POLITICS & POLICY

The ‘Arab Spring’, which continues its rattling campaign in the Middle East and North African regions, may have finally triumphed in Yemen as its president abandoned all defiance and agreed to a deal that would pave the way for his gradual exit from power.

Seeing Australia's potential as a vast, emerging economy, the Industrial and Commercial Bank of China (ICBC) gears to provide more banking services to its growing clientele by opening branches in Melbourne and Brisbane next year.

It looks like that securing a deal with the Australian Green Party on the newly House-approved mining tax came with a heavy price for banking customers, Australia’s banking alliance said.

The Australian sharemarket is a touch lower at lunch with the All Ordinaries index (XAO) down by only 0.1 pct or 3 pts to 4122.8. This an impressive performance for local shares considering that global markets took a battering overnight with European stocks trading at their lowest levels in 7 weeks after a failed bond auction by the Germans (this is one of the ways that governments raise funds).

Don't expect spending on the pentagon to decrease. Not with US national security at stake. And not with China posing an ever- greater threat.

The details of the $100-million pay-off between the Greens and the Labor government in exchange for the former's support of the mining tax are no longer secret.

Hong Kong-based holding company, CITIC Pacific Ltd., expressed disappointment that Australia included magnetite iron ore in the list of minerals contained in its proposed minerals resource rent tax (MRRT).

Aviation seems to be the key to improving the economy, and Dubai is no exception. The city in the United Arab Emirates has plenty of things going on with its logistics and aviation industry, propelling it to be a global logistics and aviation hub in short time.

Following reports of arranged marriages that recently involved a young Australian girl, the federal government said on Wednesday that it plans to put a stop to the practice it calls as tantamount to sex slavery.

Russia warned the United States on Wednesday that it could be inviting trouble with the latter’s plan of stationing missiles sites in Europe, purportedly as a form of deterrence and defence against the growing nuclear capability of Iran.

It was a mammoth oversight too expensive to ignore.Vale SA, presumably eager to capture a big chunk of the world's global demand of iron ore from the world's biggest consumer, jumped on the gun sometime in 2008 and worked to build its own fleet of commodity ships that will carry iron ore to China from South America. Its Vale Brasil has been recognized as the biggest commodity ship ever built.

The Steel Authority of India Ltd. (SAIL) on Tuesday announced India's steel demand will likely grow to only 6 per cent in 2012 as demand from the automobile and construction sector is restrained by higher interest rates.

Bell FX Currency Outlook: The Australian dollar is lower again this morning as investors continue to pour into the traditional "safehaven" of the USD.

From Craig James, Commsec Chief EconomistMORNING REPORT (8am AEDT) US jobless claims rose by 2,000 to 393,000 in the last week. The 4-week moving average of claims which is a better gauge of labour market trends fell to the lowest levels since April. US consumer sentiment rose from 60.9 to 64.1 in November. The most improved aspect was that consumers anticipated healthier jobs growth.

From Stan Shamu, Markets Strategist, IG MarketsGlobal markets extended their losses overnight on deepening concerns about the European debt crisis, after a poorly-received German debt sale. Germany failed to find buyers for 35% of the bonds it offered at an auction. There was also a swathe of disappointing economic data, with European services and manufacturing output shrinking for a third month, US durable goods orders falling and unemployment claims topping forecasts.

Everyone has their own version of a Thanksgiving feast. For some it's Turkey and stuffed cheesy potatoes, others its sweet potato mash and fixings, a lot go for both.

China's think tanks are on it again. Long before the 20th century fiscal crisis happened, the country's brilliant economists and analysts had long prepared the Asian country to counter possible ill effects of a slowing down economy. Proof of that had shown China's continuing resilience compared to the Eurozone's impending financial crash.

Shares locally could not recover throughout the day and the daily chart for the market resembled the downward slope of a relatively large hill. The All Ordinaries index (XAO) was down by 0.16 pct at the start of trade only to extend its losses by market close to 1.9 pct or 78.4 pts to 4125.8.

A preliminary survey by HSBC into China's manufacturing activity indicated the sector posted a fall in output in November, and that it could be its sharpest since March 2009.

Afghanistan's much touted abundant mineral deposits and reserves, it seems, could pose more as a problem than a solution to address its long-standing political and economic woes.

Polar ice sheets have accelerated their retreat while global temperatures added up 1.4 degrees Fahrenheit since the onset of frenetic industrial activities, prompting scientists to suggest that time may be running out to arrest the ill-effects of climate change.

Australian miner Northern Minerals had announced the discovery of heavy rare earth elements (HREE) at all four prospects of its Browns Range Project in northern Western Australia. It said its Wolverine prospect yielded the most outstanding HREE discovery.

Nisio Gomes, a 59-year-old Indian chief and shaman of the Guarani Kaiowa tribe, was murdered by a group of heavily armed men in front of his community last Friday.

While the Australian Industry Group (AiG) recognizes the importance of road safety, the group opposes the planned establishment of a Road Safety Remuneration Tribunal.

Could the plans of China Nonferrous Metal Mining (Group) Co Ltd (CNMC) to increase its investment plans in Zambia assuage the mindset of the locals that the Asian country violates labor rights and laws?

It seems that the Australian government will most likely win the legal battle filed against it by Philip Morris as experts predict they have the legal edge because intellectual property rights agreements give governments the right to pass laws to protect public health, reports said.

The Australian sharemarket is losing ground for the fourth straight day with the All Ordinaries index (XAO) down 0.7 pct or 29 pts to 4175.2. Almost all sectors are lower with the utilities managing to rise a touch at lunch.

Queensland mines are poaching workers from the banking and retail sectors in a bid to fill up vacancies in the state's thriving mining industry.

Aussie business owners' dissatisfaction with the Federal Government has soared to a three year high with the majority of Aussie SMEs (56%) now dissatisfied, up from 31% in August 2010. This is the highest dissatisfaction level recorded by the Business Monitor since June 2008, accprding to the latest research from the MYOB Business Monitor Special Report released on Wednesday.