POLITICS & POLICY

What do Pamela Anderson, Jeremy Piven , Marilyn Manson and Denzel Washington all have in common? They were all nerds in high school!

Egypt's reshuffled cabinet will not be sworn in until Prime Minister Essam Sharaf recovers from a drop in blood pressure and returns to work, cabinet sources told Reuters on Tuesday.

Nigeria's Afribank has called off deal talks with Vine Capital over doubts the private equity firm has the ability to raise the necessary funds to recapitalize the rescued lender, banking sources said on Tuesday.

South Africa plans to set up a state-owned pharmaceutical company, a senior official in the ruling ANC party said on Tuesday, a move that could squeeze local players in one of the world's biggest market for anti-retroviral drugs.

Moviegoers at Llandudno Junction cinema were surprised last weekend when they saw the Royal couple inch their way into their seats to catch a late screening of the comedy "Bridesmaids".

Moviegoers at Llandudno Junction cinema were surprised last weekend when they saw the Royal couple inch their way into their seats to catch a late screening of the comedy "Bridesmaids".

Australian gaming company Tabcorp has paid $410 million to run retail betting operations in Victoria, the country's second most populous state.

Hacking group LulzSec defaced on Monday the website of U.S. tabloid The Sun, posting a fake article that media mogul Rupert Murdoch had been found dead.

Australia may get a longer reprieve from upward interest rate adjustments as the latest minutes from this month's meeting of the Reserve Bank of Australia (RBA) shows.

Efforts in closing the gap between Asia's fast-rising economies and those marred in poverty should be intensified, the Asian Development Bank said.

Risk management strategy is now at the forefront of the overhaul list, according to a survey conducted at the Queensland Safety Show, held in Brisbane last month.

As investors are driven to stay on the sidelines by the US and EU debt crises, they opted for gold, the commodity hit a record high US$1,603 (S$1,953) an ounce on Monday.

Famous "Weeds" star Mary Louise Parker has revealed the reason why she didn't meet Prince William and Kate Middleton despite attending the royal BAFTA Brits to Watch event: J.Lo's aggressive perseverance.

Japan is now facing a contaminated beef scare as the radioactivity spreading from the affected Fukushima plant has not been prevented by the government.

Australia's Labour Party has felt the pangs of public dismay as its popularity plunged to its lowest, according to a survey conducted by Nielsen.

Australia's New South Wales and Queensland could make a comeback in the second half if benchmark rates remain at their current levels, the June report of CommSec State of States said on Monday.

The Duchess' first car, which she sold to a Chelsea resident, will be auctioned off on eBay and is expected to draw in as much as £30,000.

According to a source, the Royal Couple has been invited to see Harper Seven, Victoria and David Beckham's newborn baby daughter in the Beckham residence in England.

AFTERNOON REPORT (4.30pm AEST)Debt concerns in the US and Europe once again rattled local investors, with the Australian share market ending the trading week in the red. Ratings agency Standard & Poor´s today warned there is a one-in-two chance it could cut the United States´ prized triple-A rating if a deal on raising the government´s debt ceiling is not agreed soon. The deadline for the agreement is August 2nd. The All Ordinaries Index (XAO) fell 18.6pts or 0.4pct to 4542.7 while the S&P/A...

View exclusive images from Lady Gaga's sensational concert event "Sydney Monster Ball" last July 13.

The singer known to use many props to elevate her performances was attacked by several disability groups after dragging herself in a wheelchair during her Sydney concert last July 13.

Change and changing mindsets, no matter at what stage are loathed at, but at times circumstances just points to the inevitable. This is how the staunch supporters of the carbon tax in Australia perceive their advocacy in the days to come.

There have been three major disasters in the first three months of this year in the Pacific region: the Japanese quake and tsunami ranks the highest for the human and financial costs, followed by the Christchurch quakes in New Zealand and then the Queensland (and Brisbane) floods and cyclone.

MARKET CLOSE (4.30pm AEST)The Australian sharemarket fell for the third time this week, with the ASX 200 index (XJO) dropping 0.5 pct or 24.1 pts to 4490.7 while the broader All Ordinaries index (XAO) losing 0.5 pct or 21.9 pts to 4561.3. Most sectors fell today, however some modest gains from mining and energy companies helped minimise the losses.

Across Asia, regional markets are mostly lower after credit rating agency Moody's said after hours that the United States' triple-A credit rating is under review for possible downgrade. This has seen widespread caution throughout Asia, with the Kospi and Hang Seng the worst performers, down 0.8% and 0.7%. The Nikkei 225 is softer by 0.6% while the Shanghai Composite is showing modest gains of 0.1%.

Perth's state government is planning to build a public transport system around light rails and rapid transit buses which will cope with the public transport needs over the next 20 years.

The relative funding allocated to carbon capture and storage (CCS) technologies reflects how out of step Australia is becoming with the approach of the rest of the world to tackling climate change, the nation’s coal sector has criticised. The Government was allocating over $13.2 billion of funding to renewable technologies and less than $2 billion to CCS.

MIDDAY REPORT (12.00pm AEST)The Australian sharemarket is falling back today, wiping out yesterday's modest improvement. The All Ordinaries index (XAO) is down 0.3 pct or 13.9 pts to 4569.3. Most sectors are trading lower with the exception of the energy, mining and telecommunication sectors.

Gay marriage advocates and Holocaust survivors have slammed Loree Rudd, sister for former Prime Minister, Kevin Rudd, for accusing some Labour members of being brainwashed by a "global gay Gestapo".