North Korean dictator Kim Jong-Il died on Monday, leaving the future of his totalitarian state in doubt.
The continuing human smuggling cases require efforts coming from Australia and its regional neighbors to finally put an end to such unfortunate occurrences that already killed many would-be immigrants.
Some 15 new oil and gas fields in Indonesia are expected to go online in 2012, with total expected production at 1.15 million standard cubic feet per day (mmscfd) and 32,200 barrels of oil per day (bpd), the country's energy regulator said on Sunday.
Effective Jan. 1, China will start implementing a modified Vehicle and Vessel Tax Law that imposes a corresponding higher tax levy for vehicles with an engine size of 2 liters and above.
At least two people died after an overloaded boat believed to be making its way to Australia with hundreds of asylum seekers from the Middle East has sunk in heavy seas off the main island of Java over the weekend, ABC reported.
U.S. stocks fell Monday after European Central Bank President Mario Draghi made cautious comments on the state of Europe's economy and as bank stocks sagged in expectation of tighter capital standards.
Bell FX Currency Outlook:
The death of North Korea's leader, Kim Jong-II has brought further uncertainty to an already fragile market. As a result, the AUD and equity markets were lower
across the board.
Local stocks were hammered today, as investor sentiment was dampened by more concerns about the Eurozone and as the death of North Korean dictator Kim Jong Il added to global uncertainty. The All Ordinaries Index (XAO) fell 105pts or 2.5pct to 4113.9.
In a bid to lessen the impacts of coal ash into its surrounding environment, China's biggest coal producer had started building a facility that will make coal ash converted into alumina.
Britain's banking system is set to undergo major overhauls that London aims to implement by 2019, reports said.
As steel mills in China, the world's top buyer of iron ore, continue to suspend buying sprees due to a weak domestic demand, this has impacted spot prices of the raw material to plummet on Monday.On the Shanghai Futures Exchange, the most traded May steel rebar contract dropped to $650 per tonne on Monday, down 0.76 per cent from the previous close. On Friday, iron ore index with 62 per cent Fe grade .IO62-CNI=SI slid 1.27 per cent to $132.1 per tonne, its lowest since Nov. 30.
Are we there yet?Prices of gold, long considered by most as a safe haven investment possession against economic uncertainty and rising inflation, will decline further below $1,500 per ounce over the next three months, according to a poll made by Reuters of 20 hedge fund managers, economists and traders.
About 4,000 litres of sulphuric acid leaked on Friday from the Foreshore Road Plant of Orica in New South Wales (NSW). It was the sixth industrial accident to hit the chemical manufacturer since its Kooragang Island plant suffered a carcinogenic chemical spill over the Newcastle suburb of Stockton in August.
Despite earlier indications that China and India are inserting their footholds on Afghanistan's mining resources, Afghan officials have hinted that Australia's involvement in the Asian county's mining industry is also very much desired.
India, the world's biggest hoarder of gold in 2010, has apparently slowed down on its buying binge of the yellow metal.
America officially closed a costly war that raged for more than nine years, killed some 4500 U.S. service members and dried out hundreds of billions from the United States Treasury.
The Australian share market has started the trading week on a dismal note, after global ratings agency Fitch placed Belgium, France, Cyprus, Ireland, Italy, Slovenia and Spain on credit watch and left France on negative credit watch. At lunchtime in the East, the All Ordinaries Index (XAO) is down more than two percent with selling across the board.
Iranian engineers outwitted their American counterparts over the global positioning system (GPS) technology employed on Tehran's recently captured unmanned spy drone.
The Parliament may be in hiatus for the holidays but it appears Prime Minister Julia Gillard may not necessarily relish the break as she needs to map her strategies come resumption of sessions next year and one of those is staying in power, reports said.
Bell FX Currency Outlook:The Australian Dollar has opened trading this morning just below parity, after an uneventful offshore session on Friday.
Improving the competitiveness of the Australian economy will be fundamental to making the most of opportunities for engagement with the world's growth hub of Asia, Business Council of Australia President Tony Shepherd said.
The Australian sharemarket managed to remain a touch higher for the whole session and ended 0.5 pct or 21 pts stronger to 4218.8. Almost all sectors improved however weakness from the energy, consumer discretionary and I.T sectors held back the gains.
You would think such a scene would happen only in medieval fiction, but early this week, a woman convicted of practicing "witchcraft and sorcery" was beheaded in the Kingdom of Saudi Arabia. Practicing "witchcraft and sorcery" is a capital offense in Saudi Arabia.
India's Gems and Jewellery Export Promotion Council said the country's exports of gem and jewellery will be able to maintain its growth forecast at 15 percent for the 2011-2012 fiscal year.
China is eyeing the African countries of Benin, Mali, Chad and Burkina Faso to help the world's second-largest economy develop its cotton-planting operations.
Some 30,000 non-Arab Libyans plan to return next week to their town, which they abandoned due to reprisal attacks by anti-Gaddafi militias.
Prices of iron ore will average $150 per metric tonne from 2012 to 2015, research and investing company Goldman Sachs & Partners Australia Pty Ltd said.
Lara Giddings slammed union leaders, accusing them of spreading baseless speculation that David O'Byrne is strategizing a change in leadership following reports that Tasmania’s business lobby stresses tough budget measures should be maintained even with a change of Premier.
Petronet LNG Ltd. is about to embark on a fund-raising campaign to gather funds that will support the expansion plans on its Dahej liquefied natural gas (LNG) terminal in the state of Gujarat.
Victoria police investigating the alleged hacking of the Labor Party's database of supporters in November 2010 searched the computers of three reporters from "The Age" inside the newspaper's office instead of confiscating the machines on Thursday.
