The West Australian government invited China to be an investor in its $5.94-billion Oakajee port and rail project. The venture seeks to open up a new iron ore mine site in the state's Mid-West and make it WA's second major iron ore output behind Pilbara.
Police in Afghanistan have rescued a 15-year-old girl, who had been beaten, starved and locked up in a toilet for five months by her in-laws in the northeastern Baghlan province.
US chain store sales posted firm growth in the latest week. The Johnson Redbook Retail Sales index rose by 4.3pct in the week to December 24 compared with a year earlier. For December as a whole, sales were up 3.5pct on a year ago.
The S&P 500 fell 1.3% on a forex related move, after EUR/USD traded down to an eleven-month low.Among the major averages, the Dow Jones Industrial Average fell 1.1% to 12151. The S&P pulled back 1.3% to 1249, below its 200-day moving average, while the NASDAQ dropped 1.1% to 2267.
From Morrison Securities Pty Ltd.
U.S. stocks dropped Wednesday, sending the Standard & Poor's 500-stock index back into the red for 2011, as the euro sank to an 11-month low and investors looked ahead with concern to Italy's long-term debt auction Thursday.
Fast-rising economies in Southeast Asia, Indonesia and Vietnam have taken different strategies in handling rising coal demand in the region.
China becomes first foreign nation to win rights to search for oil in war-torn Afghanistan.
China has introduced on Tuesday a pilot reform on its pricing system for natural gas. The new system links prices of domestic natural gas to imported fuels.
Brazil's Vale, the world's second biggest mining company, has announced plans to invest $12.9 billion to implement mining projects in various parts of the world in 2012.
Last Friday, the Australian Stock market closed early for the festive break at 2pm AEDT. The All Ordinaries Index (XAO) added nearly 50points. Today after a four day Christmas break the market reopened lower, at lunch The All Ordinaries Index (XAO) off 36pts, trading volumes have been light and eight out of the ten index sectors are trading lower.
With nations resorting to use cleaner fuel arising from concerns of unpredictable global weather changes, demand for liquefied natural gas (LNG) will continue to soar in 2012 and possibly in the coming years. However, the said growth may not run in parallel with LNG prices.
Prime Minister Julia Gillard has rejected suggestions that her government liberally utilised the lure of money to win support among members of the Parliament for its legislative agenda.
Australian economists forecast that the Reserve Bank of Australia (RBA) will keep the overnight cash rate below 4 per cent for 2012. The basis of their outlook is slower global growth in the first quarter of the coming year because of the European debt crisis.
Gold prices held steady on Tuesday, lingering around $1,600 an ounce, as investors remained cautious on the fate of the eurozone debt crisis a few days before a tumultuous year wraps up.
US consumer confidence hit eight month highs in December, lifting from 55.2 to 64.5. Economists had tipped a reading near 58.3. But home prices continued to fall with the S&P/Case-Shiller index down 0.6pct in October to stand 3.4pct lower than a year ago.
From Morrison Securities Pty. Ltd.U.S. stocks edged higher, putting blue chips on track for a fifth straight day of gains, as investors welcomed a better-than-expected reading on consumer confidence.
China's largest coal producer, China Shenhua Group Co. Ltd., will be building in China within the next five years the largest thermal power project in all of Asia.
The consortium of seven Indian companies, led by state-owned Steel Authority of India (SAIL), that won the mining rights to develop the huge Hajigak deposit in Central Afghanistan has requested assistance from the Indian government for $7.8 billion in state aid and loans to develop and push through with the project.
U.S. military officials have indicated willingness to share necessary information on America's operations in areas spanning the borders of Afghanistan and Pakistan in attempts to salvage strained relationship with Islamabad over a deadly air strike last month that killed Pakistani troops.
China is yet to be over its deadly tainted milk scandal because its largest dairy producer Mengniu has confiscated and removed milk cartons from local market shelves baring its label found with toxic substances.
November exports of iron ore from Brazil grew 13 per cent to 23.2 million metric tonnes over October, according to latest data from Brazil's National Union of the Industry of Extraction of Iron and Base Metals.
Exports of iron ore from India to China fell sharply in November, statistics gathered by the Indian Ports Association showed.India's major state-owned ports shipped only 480 million tons of iron ore in November, a decline of 35.4 per cent from a year ago. Iron ore shipments through Paradip, one of the largest ports on India's east coast in Orissa, plummeted 88.4 per cent to 148.6 million tons. Iron ore exports through Visakhapatnam port likewise fell 35.7 per cent to 93.3 million tons....
A British government report credits Prince William and Kate Middleton's wedding and the Queen Elizabeth and Prince Phillip's 11-day visit to Australia for the brief respite from the republican movement.
From Morrison Securities Pty Ltd:
On Friday, December 23, Wall Street and European markets rallied overnight after the number of jobless claims in the US fell to the lowest level since April 2008, in a further sign the world's largest economy is returning to health. Australian stocks rose 1.2 per cent to the highest in a week in their last day of trading before Christmas after positive data from the US boosted market optimism
With more and more nations getting more environment conscious, it is not surprising that many had resorted to use either renewable energy or clean energy to fuel their respective energy requirements. A number of nations, such as China, India and South Korea have been importing liquefied natural gas (LNG) by millions of tonnes to meet domestic demand.
Prices of rare earth elements, precious metals essential to a number of manufacturing new technologies, will continue to fall further in 2012, an analyst had said.
An 89.2 billion tonne worth coal reserve has been discovered at Sha'er Lake at China's northwest Xinjiang Uygur autonomous region. Experts said the coal reserve is Asia's largest.
Five rare earth elements fundamental in creating new technologies such as wind turbines, electric cars and efficient lighting are facing critical supply levels over the next few years.
China will continue to enjoy a more than average economic growth of 8.6 per cent in 2012, the Hongkong and Shanghai Banking Corporation (HSBC) forecast on its annual global research released Thursday.
While North Koreans are mourning their late leader Kim Jong-il, a defector from the communist country now living in South Korea felt relieve that the man responsible for killing her family and destroying her life is now dead.
