The Australian sharemarket was improving for almost the duration of the session and at one point was close to 1 pct higher. In the last two minutes of trade, shares pulled back by just a few points with the ASX 200 index down 0.1 pct or 3.1 pts to 4214.8.
It won't be long before a Chinese flag hovers over at the Arctic.China, the world's second-largest economy and stronghold of the world's supply of rare earths, has just gained legal access into the Arctic region after Denmark opened the gate for the Asian nation to create a strategic foothold in the area, particularly in Greenland.
Opposition Leader Tony Abbott has reiterated on Thursday his plans of pulling out some $500 million worth of subsidies committed by Prime Minister Julia Gillard to the Australian car industry if the Coalition assumes government power.
The International Monetary Fund (IMF) is seeking to further fatten its existing resources, a move that according to IMF managing director Christine Lagarde will provide sufficient buffer in the event a serious downturn will develop from the ongoing Euro crisis.
The question looming amid the maddening eurozone financial crisis now is, will the BRIC (Brazil, Russia, India and China) nations consider lending a helping hand to a world that has yet to officially and formally recognise its economic hold in the global market today?
The initiative pitched by Europe on resolving the threats of space junks that litter over Earth's atmosphere gained conditional nod from U.S. Secretary of State Hillary Clinton this week.
Liberal MP Christopher Pyne called on Prime Minister Julia Gillard to clarify speculations that the change of speakership in the House last year had her prior knowledge, contrary to her earlier claims that shift came as a surprise for the Australian Labor Party leadership.
Amidst the talks of same-sex marriage bill in Australia getting introduced, three well-known and well-loved Australian celebrities – Hugh Jackman, David Stratton, and Oscar-winner Lizzy Gardiner – gave their support to the cause by signing a marriage equality declaration that has been warmly received by same-sex marriage advocates.
The continuous power disruptions brought by the unreliable power supply in Tanzania have seriously affected the gold production yield of African Barrick Gold (ABG), with fourth quarter 2011 figures sliding 11 per cent. This development caused the unit of the world's largest gold producer, Barrick Gold Corporation, to miss its full year 2011 production targets by 2 per cent from a year ago.
On Wednesday, January 18, 2012, NaturalNews.com went "dark" to protest SOPA, the "Stop Online Piracy Act" that is actually a thinly-veiled government censorship effort.
The Australian sharemarket is gaining for the third time this week at lunch, with the All Ordinaries index (XAO) up 0.3 pct or 12.4 pts to 4293. Most sectors are improving however the defensive telcos are pulling back slightly. Australian shares were up by around 0.5 pct prior to the release of some worse than expected employment numbers this morning.
Bell FX Currency Outlook:
The Australian Dollar remains above USD 1.0400 as US equity markets ground higher following the release of sound US economic data and plans by the IMF to bolster funds for bail-out requirements.
Overnight gains posted on the S&P and most of Europe's stock markets are providing a good starting point for Australian markets on Thursday after a flat finish yesterday.
U.S. stocks pushed toward six-month highs as home-builder sentiment hit its highest level since 2007, and generally positive corporate earnings bolstered shares.
The Australian sharemarket gained a little ground for the second time this week, with the All Ordinaries index (XAO) managing to edge higher by a very modest 0.1 pct or 2.9 pts to 4280.6. The mining sector was the day's star performer while the financials held the market back most significantly.
Bangladesh, in a bid to generate 2,000 megawatts (MW) of electricity to ensure future power supply, has announced it will place on the market invitations for international tenders to help the country build four more coal-fired power plants.
China has registered a minimal expansion of 8.9 percent in the last quarter of 2011, giving away signals that the dreaded slow down predicted by economists could finally descend in 2012.
Its official fourth-quarter growth rate may have been its slowest in more than two years, but China's remains the economy to beat.
American think tank Heritage Foundation released last week the 2012 Index of Economic Freedom with Hong Kong on top of the list. The report is a measure of economic freedom or the ease of doing business in 179 countries based on a 10-point criteria.
Australians will be celebrating Australia Day on January 26, a public holiday in Australia.
The study on the mouth spray Sativex has been the talk of the town most recently as it can possibly change how withdrawals from marijuana are treated. And with all the buzz going about the prospects of the medicine, can this be the very thing that can push the legalization of cannabis?
Apparently irked over China's slow progress in developing the Belinga iron ore deposit, the government of West African nation Gabon has been reported mulling to transfer the mine's exploration and ownership rights to BHP Billiton Ltd., in what could be a winning moment for the latter as it works to branch out its main production base away from Western Australia's Pilbara region.
The Australian sharemarket is losing ground for the second time this week, with the All Ordinaries index down 0.1 pct or 4.8 pts to 4272.9. This is despite gains from both European and U.S markets overnight.
Posco of South Korea, the world's third-biggest steelmaker, prompted by heating competition from rival Asian steelmaking countries China and India, as well as the United States, on Tuesday announced it is in talks to increase its ownership control in the Roy Hill iron ore project in Western Australia.
Same-sex marriage is a hot topic that everyone has an opinion on. While some people wanting to legalize same-sex marriage in Australia, others don’t even want to hear from it. With a gay union bill in the works of being introduced, what does it actually take to have it passed?
Same-sex marriage is a hot topic that everyone has an opinion on. While some people wanting to legalize same-sex marriage in Australia, others don’t even want to hear from it. With a gay union bill in the works of being introduced, what does it actually take to have it passed?
The South Australian Supreme Court overturned on Tuesday a ministerial approval given to Argonaut Resources (ASX: ARE) to drill for copper, gold and iron-oxide in parts of Lake Torrens and Andamooka Island.
U.S. imposed sanctions on China's state-run Zhuhai Zhenrong Corp, along with two other firms, for trading refined oil products to Iran.
The acceptance of gold as a reserve requirement held by Turkish banks led to a rise of holdings of the yellow metal. In November, Turkey added 63 tonnes of gold, which boosted the purchase of gold by 41.3 per cent. It was the largest increase in gold buys that month.
The pokies pre-commitment scheme championed by Independent MP Andrew Wilkie could soon fizzle out following the reported pull out of supports for the gambling reform proposal, media reports said.
