POLITICS & POLICY

Australia may well sit back and relax as its mining sector will continue to support its economic stability in the next five years at least.Latest data from the 'Mining Industry Major Projects - October 2011' report of the Bureau of Resources and Energy Economics (BREE) showed committed capital investment into the country's already booming resources industry grew 34 per cent to A$231.8 billion (US$229.8 billion) in the six months ended Oct. 31.

A two-minute video to promote gay marriage produced by Australian lobby group GetUp has gone viral in YouTube. Since it was posted on the video sharing site on Sunday, the video had almost 1.9 million views as of Tuesday noon.

Australia could soon face legal woes once the country’s leadership insists on shipping uranium to India, an international law expert suggested on Tuesday.

Global markets rallied overnight as European leaders drafted a framework for a bailout fund for the region. Strength shown in the Asian session resonated in the US and Europe, as investors got a chance to react to the positive developments from the weekend. Investors are increasingly optimistic that European leaders will draft a comprehensive bailout plan which involves better fiscal integration, plus insure bonds of debt-stricken countries with guarantees of 20% to 30%.

The European financial crisis has cut Australia's budget by $20 billion. However, Treasurer Wayne Swan, who will release on Tuesday the midyear budget review, forecasts a return to surplus.

US new home sales rose by 1.3pct in October - marking the fastest pace of growth in five months. The supply of new homes on the market eased modestly from 6.4 to 6.3 months' supply. The Dallas Fed Manufacturing Index rose from 2.3 to 3.2 in November.

2011 was a great, overly-fashionable year for Kate Middleton, and here are some of her most memorable looks.

The Duchess had undergone some treatment for her pearly whites, and this explains her slightly crooked, 'un-American' smile.

The Duchess of Cambridge has become one of the most followed fashion icons of this year, and here's a style guide so everyone can dress like a royal as well.

China Guangdong Nuclear Power Co. have struck an agreement with Namibia's Epangelo Mining Co. to try to secure a ten per cent stake in Husab, the world's fourth biggest uranium deposit.

China has no plans to lift the limitations it set on its property market. At least not yet.

After a very tough week and a half the Australian sharemarket has managed to hold onto the majority of its gains for the duration of the session. The All Ordinaries index (XAO) jumped 1.7 pct or 68.2 pts to 4125.8. All sectors improved today with the big banks the standout performers of the day.

The rare earth metals (REM) earlier discovered from the Kwale project in Kenya's coastal region have been found to extend beyond the 30 meters reported earlier, giving estimations the country has the potential to earn more than the Sh270 billion anticipated from the project

More and more mining companies are scrambling to join the rare earth metals (REM) bandwagon. And the faster they get to produce the elements and sell to the market, the better the global demand will neutralize away from China's hands.

Insider trading is apparently on the rise in Australia. The Australian Securities and Investments Commission (ASIC) disclosed on Monday that it in investigating 35 alleged insider trading cases.

George Bauk, managing director of Northern Minerals, said a number of resource companies have been closely monitoring the shire of Halls Creek in outback Western Australia after it was discovered the area abounds in rare earths minerals (REM).

Libya's new government is sending arms to Syrian rebels trying to oust President Bashar al-Assad as the Arab League approved an economic embargo on his government for killing protesters.

Education authorities and parents of non-Norwegian students in Norway were shocked to learn that a high school in Oslo was segregating ethnic and white students to prevent Norwegian students from transferring to other schools.

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.