POLITICS & POLICY

The Australian sharemarket is gaining for the first time in seven days after a tough week for shares globally. The All Ordinaries index (XAO) is up 1.9 pct or 76.3 pts to 4133.9. All regions of the market are currently improving with the two largest sectors (the miners and financials) leading the charge higher.

Grain growers in Western Victoria are advised to be vigilant in fighting off the extent of snail contamination that could hamper grain harvests this season.

Labor Senator Matt Thistlethwaite proposed at the New South Wales (NSW) Young Labor Conference on Sunday for the state to replace the celebration of Queen Elizabeth's birthday on the second Monday of June with a day off that recognizes Australian values.

Australia maybe benefiting most from its mining boom, anchoring its economy to remain resilient in spite of the current global financial meltdown, but its explosion has definitely created an imbalance in the government's handling of priority infrastructure projects in the country.

Lawyers of Sirhan Sirhan, the convicted killer of former senator Robert F. Kennedy, are seeking his release and a new trial claiming he did not shoot the victim.

Federal Treasurer Wayne Swan has asserted that Australia will find ways to fill in the void of the impending $7 billion budget shortfall by May, vowing that he is ready to implement painful measures in order to reach the goal he had pledged earlier this year.

Food Standards approved the application of the Winemakers Federation of Australia (WFA) to use in their production of wines an additive used also in toothpaste and laxatives manufacturing.

Bell FX Currency Outlook: The Australian Dollar traded below 0.9700 on Friday as European sovereign debt issues continued to dominate the market's attention but has regained lost ground early today.

U.S. stocks eased lower Friday, capping the Dow Jones Industrial Average's worst Thanksgiving week performance since markets began observing the holiday in 1942.

MORNING REPORT (7am AEDT) Italian retail sales fell by 0.4pct in September - the fifth straight decline. French consumer confidence fell from 82 to 79 in November.

Rio Tinto and Chinalco joint venture (JV) for exploration in China - Chinalco Rio Tinto Exploration Co. Ltd. (CRTX) - has been officially registered as a business in China.

Metals X Ltd., developer of the Wingellina Nickel-Cobalt Project, had verified it has held preliminary talks with South Korea's Samsung C&T Corp. for a possible $2.2 billion investment into the project.

The Federal Government's announcement on Friday that it plans to introduce retrospective legislation to reverse consolidation tax laws rolled out only last year, further erodes the integrity of the tax system, The Tax Institute said.

Businesses in China engaged in electronic trading such as commodities, artifacts and precious metals are in for a deep scrutiny as the federal government launched a major campaign to clean and consolidate the country's numerous exchanges in order to regulate the market and prevent financial consequences.

So far, this certainly has been the sort of month we could have done without. The focus has been firmly fixed on any developments or headlines regarding Europe. Borrowing costs for European governments have remained at unsustainable levels and France's AAA credit rating has come until considerable scrutiny. The All Ordinaries index (XAO) fell by 1.4 pct or 57.7 pts to 4057.6.

Japan, veering away from nuclear usage following the radiation breakout of its Fukushima plants early this year, will be importing more of the liquefied natural gas (LNG) type to address its power requirements.

Japan's Mitsubishi Corp. has agreed to buy Murchison Metals Ltd.'s 50 per cent stakes in the West Australian Oakajee Port and Rail Project for A$325 million (US$314.9 million), gaining full control of the mine along with its port and rail projects.

Half of all companies listed on the Australian sharemarket are losing ground at lunch. The All Ordinaries index (XAO) is down significantly by 1.3 pct or 52.7 pts to 4062.6. Despite there still being well over 200 companies that are higher and another 334 currently flat, most of the big players are being hit hard today.

The Association of Southeast Asian Nations (ASEAN) invited both U.S. and Russia to attend the East Asia summit, where leaders from 18 nations discussed territorial claims in the South China Sea, democratic reforms in Myanmar, natural disasters, currency, trade and other issues.

The National Broadband Network (NBN) roll out is heading the right direction, according to NBN Co chief executive Mike Quigley and more will be accomplished once its $11 billion deal with Telstra Corporation gains approval from the competition watchdog.

Notwithstanding Rupee prices of gold striking record highs of late, gold imports of India could still reach 1,000 tonnes for 2011.

Major economies need to contribute in resolving the European financial crisis, including Australia, which according to Reserve Bank of Australia (RBA) governor Glenn Stevens, is set to absorb significant impacts of spillovers from Europe.

Australian rare earths developer Arafura Resources had backed out from a planned $74 million share sale as the continuing instability in the global markets have affected the company's share prices.

China's continued crackdown to clean and regulate its rare earths metals (REM) sector have produced a list of the first 15 REM enterprises that have passed the environmental protection check-up and obtained clearance to operate.

Prime Minister Julia Gillard is bound to enjoy more sleep in the weeks ahead as a new ally was installed as House Speaker on the last day of Parliament session, further boosting her chances of running a full term, experts said.

Federal Treasurer Wayne Swan cleared on Friday SABMiller’s $9.9 billion takeover of Australian beer icon Foster’s, leaving only one brand as the country’s wholly-owned brewery.

The Duchess might be one of the most fashionable icons of the present world, but it doesn't mean she does not have her bad days when it comes to style.

Bell FX Currency Outlook: The Australian dollar traded near a seven week low during yesterday's session as ongoing concerns over the European and US situation weighed.

Ahead of a political debate sponsored by The Courier-Mail in Queensland, leaders in the Australian state have laid out their vision for the coming years.