The Bank of Korea, South Korea's central bank, for the second time this year, raised its holdings of gold in November as part of measures to diversify its portfolio of foreign exchange reserves. In a statement on Friday, the Bank of Korea said it purchased 15 tonnes of gold for $850 million in November, four months after it bought an initial 25 tonnes for $1.24 billion between June and July, its first over a span of 13 years.
You know what they say: the bigger they are, the harder they fall.
Former New South Wales Minister Ian Macdonald admitted to the independent Commission Against Corruption on Thursday that he spent two hours with a sex trade worker at a top Sydney hotel.
It is highly likely that come Saturday, majority members of the Australian Labor Party would throw their support behind Prime Minister Julia Gillard, who advocates for a conscience vote that will determine the ruling party's unified stand on same-sex marriage.
The Philippines has announced it would be needing at least $600 million in investment funds for its planned offering of 30 coal exploration projects.
Tanzania welcomed visiting former U.S. President George W. Bush and his wife Laura Thursday, ignoring a call by Amnesty International to arrest him for U.S. torture of suspected terrorists during his term.
Mackay Conservation Group is opposing the planned expansion of the Abbot Point coal port north of Townsville in Queensland. The group is against the increase in number of coal terminals to nine from the current three because of the impact of the expansion on waterways and communities within a 500-kilometre radius of the port.
British American Tobacco (BAT) asked Australia's High Court on Thursday to declare a plain cigarette packaging law as unconstitutional and invalid for violating its trademark.
Vietnam will slash its coal exports by 18.2 per cent next year from this year's projected shipments to 13.5 million tonnes in order to save supplies for domestic consumption in anticipation of new thermal power plants going online in the next few months.
Employees of Fremantle walked off their jobs on Friday dawn as scheduled as part of their move to improve working conditions and seek a 6 per cent salary increase over the next three years.
Amidst protestations and applause, Australia is set to strictly rein in on tobacco marketing within its borders come next year as the country imposes its plain cigarette packaging laws that aim to strip the products of their sleek images, thus giving consumers straight-forward information on the substances they puff in to their system.
Anglo-Australian miner Rio Tinto Ltd. has succeeded in its $654-million takeover bid for Canadian uranium miner Hathor Exploration and its Roughrider uranium project after rival bidder Canadian Cameco Corp. backed out of the bidding war.
Bell FX Currency Outlook:
The Aussie dollar remained steady overnight holding onto the huge gains it made yesterday; opening around USD1.0230 this morning, up from a low of USD1.0150 during the offshore session.
From Morrison Securities:
U.S. stocks were little changed in afternoon trading Thursday, a day after a blowout rally, as headlines from Europe kept traders on the defensive but strength in the technology sector limited losses. The Dow Jones Industrial Average shed 6 points, or 0.1%, to 12049 recently, shaving off a sliver of the previous session's 490-point surge.
Take a look at some of Middleton's best and worst spectator hats and judge if she looks like a princess or an ornament.
A new round of anxieties will likely occur in all nations and global markets as China released its official manufacturing index showing a drop in November, by all means an indicator that the world's second-largest economy is suffering a contraction for the first time since its last under-50-percent reading in nearly three years.
Eco Oro Minerals of Canada announced Wednesday it had intersected high-grade gold and silver from its Angostura gold deposit, located in northeastern Colombia.
Russia's biggest steelmaker, OAO Severstal, announced it is set to separate Nord Gold N.V. subsidiary from its integrated steel operations, as well as possibly list the latter in the London Stock Exchange.
In a report, the Royal Couple has been named by Canada's 'Maclean's' as the top newsmakers of the year with their highly-publicized appearances.
Immigration Minister Chris Bowen says Australia should increase its refugee intake by 50 per cent, the Herald Sun reports.
China, largest consumer of the world's total energy output, will raise for the first time in two years prices for industrial power and thermal coal in a bid to ease power shortages and lower financial pressure on power companies.
Industrial disputes filed by employees and workers in Australia rose to 66 during the September period resulting in more working days lost and industries paralyzed, according to the Australia Bureau of Statistics (ABS).
The Senate Committee of Rural Affairs and Transport recommended on Wednesday the suspension of all new coal seam gas (CSG) projects in areas where it would tap into the Great Artesian Basin. The 12 recommendations are based on the potential of CSG ventures to contaminate underground water.
China accused Australia and the United States Wednesday of reviving Cold War policies with their enhanced security arrangement that will deploy U.S. Marines in Australian territory.
In a study presented at the 17th U.N. conference on climate change in Durban, South Africa, an alliance of environmental groups warned that efforts will be in vain as long as banks are willing to finance expansion of the coal industry, one of the world's biggest sources of greenhouse gases.
The two West Australia power firms signed supply contracts on Wednesday with gas suppliers. The deal would boost gas security for residents.
The current slump in the global prices of rare earth metals (REM) is a more than open indication the global market is now poised for a renewed growth demand in the sector, Nicholas Curtis, chairman of Lynas Corp., explained to shareholders at its annual meeting on Wednesday.
A naval officer accused of physical abusing a female subordinate informed a military court on Wednesday that his actions were justified by intent to instill discipline and were executed with full consent of the subject sailor.
Exports of rare earth metals (REM) from China stood at only 11,000 tonnes from January to September, accounting for only 40 per cent of the overall export quota for 2011. Latest figures likewise showed a 65 per cent fall year on year.
The Australian sharemarket is gaining for the fourth consecutive day with the All Ordinaries index (XAO) currently up around 2.2 pct. This makes it the fourth consecutive session of improvements locally and means that Australian shares have jumped by around 5 pct so far this week. All sectors are currently trading higher.
