POLITICS & POLICY

Oil Blocks in Tanzania Up For Licensing

At least 16 oil offshore blocks in East African Tanzania will be put up for oil exploration licensing beginning September, according to a geologist at state-run Tanzania Petroleum Development Corporation.

Asylum Seekers in Australia Down 9%

While asylum seekers globally are on the rise, in Australia their numbers went down by 9 per cent in 2011, a report by the UN Refugee Agency released on Wednesday said.

Beach Energy Targets $364M in Bond Rights Offer

Adelaide, South Australia based oil and gas producer Beach Energy will be undertaking a convertible bond rights offer to generate a total of A$345 million or $364 million to fund its various project initiatives in the next two to three years, including a fully underwritten 1 for 8 entitlement offer to raise A$195 million and an offer of senior unsecured convertible notes to raise about A$150 million.
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Cooper Brewery Seeks End to Woolies, Coles Duopoly

Cooper Brewery Chairman Glenn Cooper called for new laws to stop the duopoly in the supermarket industry and protect local owners of farmlands. He specifically blamed Woolworths and Coles, which have engaged in a price war to the detriment of Australian farmers

Global Markets Overview - 03/28/2012

U.S. stocks erased a little bit of Monday's sharp run-up in a late-day drop led by declines in energy and financial stocks. While Monday's action had the look of end-of-quarter/month window dressing, Tuesday looked a little more like investors taking some money off the table after a strong run in the aforementioned sectors.

Gillard Government Gears for Australia Century in Asia

Treasurer Wayne Swan gave Australians a glimpse into the Gillard government's new policy direction on Asia in a speech he delivered on Wednesday at the Australia China Business Council in Melbourne. Mr Swan called on Australia's business community to make an inspired decision and create greater links with Asia.

Australian Dollar Outlook - 03/28/2012

Bell FX Currency Outlook: The Australian Dollar has opened lower this morning following a fall in Chinese Industrial Profits yesterday, which was the first drop in profits since 2009.

India, Determined to Reach 795 MT of Coal by 2016

India's total coal output by the 2016-17 financial year has been forecast to jump 43 percent to 795 million tonnes (MT) from the estimated 554 MT in the current fiscal year, India's Minister of State for Coal told Parliament on Monday.

Latest Newspoll Survey Adds Up to Labor Woes

The Queensland vote over the weekend pointed to a likely Labor humiliation come the national elections next year and today that spectre was further supported by the latest Newspoll survey, which showed Prime Minister Julia Gillard succumbing to defeat from the gathering Coalition storm.

Australian Stock Market Report - Morning - 03/27/2012

MORNING REPORT (7am AEDT)In a speech to business economists Fed Chairman Bernanke confirmed that the Fed still believes that accommodative policy is needed to make further progress in lowering the unemployment rate despite being encouraged that the rate has fallen to 8.3pct - "conditions remain far from normal, as shown, for example, by the high level of long term unemployment."

Global Markets Overview - 03/27/2012

U.S. stocks surged Monday, largely erasing last week's losses, after a speech by Federal Reserve Chairman Ben Bernanke signaled the central bank is committed to a monetary policy that's helped buoy stocks for three years. The Dow Jones Industrial Average rose 130.67 points, or 1%, to 13,211.40. The S&P 500 Index gained 16.07 points, or 1.2%, to 1,413.18.

A Question Australia Might Have to Answer

Can you imagine, for one horrifying second, a world with no sushi and no vodka? We can't. We can imagine a Hell of such description, yes. A fire and brimstone purgatory of infinite and unbearable pain. But not a world...at least not one in which we'd choose to live.

Australian Stock Market Report - Midday 3/26/2012

Last week the Australian share market ended lower closing out a hard week for investors. However this morning the market seems a bit brighter thanks to higher commodity prices over the weekend and no negative news hitting the screens. At lunchtime in the East, the All Ordinaries Index (XAO) is higher by 4pts to 4,364.

GE Supports Australian Governments Carbon Tax

General Electric backed the Australian carbon tax, which the government will start to collect on July 1. GE said on Monday that it would allocate more funds to pursue carbon reduction technologies.

Australian Stock Market Leads - 03/26/2012

The positive leads from global markets led by the rise in the U.S. equities Friday have not provided enough boost to prop up the sentiment in the Australian stock market early on Monday.

Australian Stock Market Report - Morning - 03/26/2012

MORNING REPORT (6am AEDT)US new home sales eased from a 318,000 annual rate in January to 313,000 in February, below expectations for a result near 325,000. But the weekly Economic Cycle Research Institute index rose from 125.1 to 125.7.European shares recorded small gains on Friday. But key indices ended the week sharply l

Global Markets Overview - 03/26/2012

Companies including drugstore operator Walgreen Co. (WAG) and electronics retailer Best Buy Co. (BBY) are scheduled to report their latest quarterly results this week. A former MF Global Holdings Ltd. (MFGLQ) employee is expected to appear before a U.S. House subcommittee this week to answer questions about the transfers of millions of dollars before the failed broker-dealer's bankruptcy filing.

Obama Threatens Rare Earth Trade War Against China - But Why?

In the spirit of election season political posturing, the Obama White House has announced that it is filing a trade lawsuit against China for restricting exports on rare earth metals and other materials used in the production of touchscreen mobile phones, military weapons, laptop computers, and various other high-tech devices.

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