Australian stocks are in for a rough day as there are not enough leads from other markets to rally on Monday's opening, analysts say.
Prime Minister Julia Gillard issued on Friday a new directive that requires members of the cabinet to secure clearance with her office prior to their appearance on Australian newspapers.
Bell FX Currency Outlook:
The AUD tumbled on Friday from the close to 1.0800 to open just below 1.0700 this morning as financial markets became nervous before the vote on austerity measures by the Greek Parliament.
Stocks were dragged down for their worst one-day loss in about six weeks by tumult over the Greek bailout, disappointing readings on the U.S. economy and a downgrade of nearly three dozen Italian banks.
ANZ Bank announced on Friday that it will increase its variable home loan and small business interest rates by 0.06 per cent. The announcement establishes ANZ's independence for the Reserve Bank of Australia's (RBA) overnight cash rate policy which the central bank at kept on Tuesday at 4.25 per cent.
The federal government of Australia launched on Thursday a $340-million energy programme designed to provide energy efficiency to businesses, local government and communities.
On Thursday, the governments of China and Canada renewed yet again their bilateral ties over a planned sale of some $3 billion uranium yellowcake exports to the world's second-largest economy.
More jobs in Australia continue to be placed on the chopping block as the axe moves to the construction industry. Kell & Rigby, one of Australia's oldest building firms, announced on Thursday the loss of 500 jobs.
Four days after it retained the overnight cash rate at 4.25 per cent, the Reserve Bank of Australia (RBA) lowered on Friday its inflation and growth forecast for the first six months of 2012.
As a definite effect of the continuing sovereign debt crisis in the eurozone, coupled with the fiscal weakness also happening in the United States, China had braced itself for a less than favorable performance of its exports during the first month of the year.
Bell FX Currency Outlook:The Aussie traded to a low of USD 1.0740 in our session yesterday, to open at USD 1.0785 this morning with markets buoyed as Greek political leaders appeared to have come to an agreement on terms for the country's bailout.
Ever since the age of the cassette tape the media industries across the globe have been "lobbying" and "contributing" to our politics in a way many of us do not even understand.
Auckland has to re-evaluate its current style of new housing, or else it would need an extra 20,000 ha to accommodate new houses in the next three decades, reports said.
Local stocks are expected to rebound on Friday with the gains posted overnight by European and U.S. markets routing from the positive resolution of the Greek debt deal.
U.S. stocks drifted upwards Thursday as investors took stock of a Greek austerity deal and continued improvement in the U.S. labor market. The Dow Jones Industrial Average was up 21 points, or 0.2%, to 12907 in afternoon trade.
To defuse the ticking retail frenzy of grabbing the latest Apple phone- the iPhone 4S-- Chinese authorities and American-owned Apple Inc. have joined forces to tackle the problem of illegally selling the handset in China's black markets.
China is not keen to give up the fight in justifying its rare earths export policy recently thumbed down by the World Trade Organization.
The Ministry of Economy, Trade and Industry (METI) of Japan on Wednesday announced it has earmarked some $65 million in subsidies in a bid to encourage Japanese manufacturers to reduce their reliance and consumption of precious rare earth metals and minerals, as well as spur the development of new technologies, to aid in their various products and services.
The Australian sharemarket ended slightly lower today for the second time this week. The All Ordinaries Index (XAO) fell 0.2 pct or 6.6 pts to 4357.1. Most sectors gained however the weakness from the miners put the most pressure on the market overall.
Discounting objections from human rights activists related to a December riot in Kazakhstan, Germany had forged on Wednesday a rare earths and technology agreement swap with the Central Asian nation, where the European giant gains access to the latter's abundant rare earths and other raw minerals in exchange for technological advancement and investment.
The Philippines is once again engrossed in an unfolding political drama that could make or break President Benigno S. Aquino III’s reform agenda.
More than 50% came to vote on the first day of the election that is expected to end on March 3. The country has approximately 126 million qualified voters.
China has vehemently denied it had signed an agreement with Japan over its rare earths supply, and never ever will there be in the future.
The Australian Workers' Union (AWU) blamed on Thursday the Tuesday decision of the Reserve Bank of Australia (RBA) to retain the overnight cash rate at 4.25 per cent for more job losses across Australia. The union also pointed to the carbon tax as another reason why more industries are nervous.
Victoria Premier Ted Baillieu will meet on Friday with Alcoa Chief Executive Alan Cransberg in an attempt to save 600 jobs on the line. Mr Cransberg said earlier this week that the company is planning to close its Geelong plant because of the strong Australian dollar and weak metal prices.
Prime Minister Julia Gillard has reaffirmed her commitment of protecting Australia's workforce, which she said can only be effectively done by focusing the energy of the government in running the economy.
The government of Western Australia has included Methylenedioxypyrovalerone or MDPV to its list of dangerous drugs, following the lead of two earlier states that banned the synthetic substance earlier.
Increasing rates will break the social contract between Australian banks and the public, warned Greens MP and banking spokesperson Adam Bandt.
U.S. stocks pared losses to inch higher as investors digested headlines over a Greek debt-restructuring deal that would allow the euro-zone country to avoid a default.
Central Philippines has been trembled by an earthquake Monday with a magnitude of 6.8. The calamity has damaged buildings and caused landslides that covered 30 houses with soil resulting to the death of 13 people.
