Construction works on the Martabe gold and silver mine project in North Sumatra, previously owned by Australian gold and copper miner OZ Minerals, is almost complete, with gold and silver production expected to commence by the end of March, the chief executive officer (CEO) of the mine's new owner, G-Resources, said.
The Australian Capital Territory (ACT) government is so dead-bent on seeing the 2014 G20 Summit in Canberra that it has indicated its willingness to play second fiddle to Sydney to win the gig.
Australia ranked third on the 2012 Index of Economic Freedom released on Friday by U.S. think tank Heritage Foundation. Hong Kong topped the list, followed by Singapore.
China's coming leadership shifts are all part of its political routine and do not promise fundametal change, says Australian Foreign Minister Kevin Rudd.
The Australian sharemarket has kicked off the week in the red with the All Ordinaries index (XAO) down 1 pct or 41.3 pts to 4214.1. Almost all sectors are losing ground however the miners are the worst performers, down around 1.3 pct.
Although the Australian stock market was expected to be the first major market to react to the Standard & Poor's downgrade of nine European nations, the response was relatively subdued.
Bell FX Currency Outlook:
Financial markets focused on the credit downgrade of the sovereign debt of nine European nations by S & P on Friday that again highlighted the debt woes that Europe faces.
The Australian Stock Market is seen getting on a rough start but could eventually take off after a mildly positive lead from the U.S. overnight. Analysts from CMC Markets, OptionsXpress of Charles Schwabb, and IG Markets have shared market key indicators for Monday.
U.S. stocks fell Friday, but squeaked out an advance for the week, as fears of a credit downgrade of several euro-zone countries added to disappointing results from J.P. Morgan Chase.
Journalists trying to cover the year-old Arab Spring revolution mostly encounter attacks, arrests, and death. Recently, a French TV reporter, Gilles Jacquier, was added to the increasing toll of affected correspondents.
The Australian sharemarket managed to end higher for the third time this week, with the All Ordinaries index (XAO) rising 0.4 pct or 17 pts to 4255.4. This is the third time this week that shares locally improved, something which has not happened in well over a month. The XAO rose by 2.1 pct over the week adding to last week's 1.3 pct improvement.
With China back to its normal import buying of copper, prices of the raw commodity will likely surge to $9,500 a metric tonne by the second semester of 2012, the Japanese Mizuho Corporate Bank Ltd. said.
When Bill Shorten was promoted by Australian Prime Minister Julia Gillard in December 2011, political observers said the MP was given a boost to future national leadership claim.
Prices of iron ore in the world market could further rise in the next few months after exports of the raw commodity by the world's global iron ore miners have been hampered due to severe weather disturbances.
Amid weeks of environmental protests, U.S. gold miner Newmont Mining Corp. announced its $4.8 billion gold project in Peru will push through as scheduled on 2015.
Wow kids of any age with toys like robotic pets, plush viruses, and an inflatable Titanic slide.
The Victorian man punished in Saudi Arabia with lashing because he insulted the companions of Prophet Mohammed, Islam's holiest figure, arrived home in Melbourne, Australia on Friday.
The Australian sharemarket is improving for the third time this week, with the All Ordinaries index (XAO) up 0.4 pct or 15 pts to 4253.4. Almost all sectors are higher however the consumer staples and telcos are trading in the red.
The U.S. military started Wednesday verifying the origin and authenticity of a video clip showing its marines urinating on three slain Taliban fighters.
The European and U.S. stock markets took positive turns last night, which could bode well to keep Australian stock markets afloat on Friday.
Bell FX Currency Outlook:
Successful bond auctions in Italy and Spain, coupled with positive comments from ECB president Draghi improved market sentiment overnight.
U.S. stocks edged slightly higher late Thursday as the materials and industrial sectors pulled major indexes back into positive territory, erasing earlier losses that had followed three tepid readings on the state of the U.S. economy.
China's inflation rate in December eased to a 15-month low to register at 4.1 per cent, hinting of further monetary policy easing to aid the country's slowing economy.
The Australian sharemarket failed to make it three straight sessions of gains today, with the All Ordinaries index (XAO) easing by a modest 0.1 pct or 4.5 pts to 4238.4. The market's second largest sector, the miners managed to record some modest gains while the larger financial sector lost a little ground.
The global rare earths sector has a new player. On Wednesday, Deutsche Rohstoff AG, a German mining and commodity group, announced it will expand existing mining operations in the Delitzsch region of east Germany to develop an estimated rare earths deposit of 38,000 tonnes.
Anglo-Australian miner Rio Tinto Ltd., three months after a successful US$642 million ($A623 million) takeover bid for Canadian uranium miner Hathor Exploration Ltd. and its Roughrider uranium project, announced it has fully acquired ownership of the uranium company.
In an apparent testimony to its staying power, investor confidence in precious metal gold held firm on Thursday, as the world awaits the results of Spain's bond auction as well as news of an assessment meeting by the European Central Bank (ECB) of the region's fiscal meltdown.
The Australian sharemarket is largely flat at lunch, with the All Ordinaries index (XAO) down only 1.4 pts to 4241.5. The market's largest sector, the financials are up 0.2 pct with BHP Billiton (BHP) up 0.08 pct or 3 cents to $36.21 while the smaller RIO Tinto (RIO) is 0.12 pct or 8 cents higher to $64.27.
Bell FX Currency Outlook:
The AUD is slightly firmer again this morning after a night dominated by a weakening EURO, which has reached new 16-month lows against the US Dollar.
From Morrison Securities Pty. Ltd.:U.S. stocks slipped as concerns over a weakening economy in Europe prompted investors to consolidate some of the market's recent gains.
