Vittorio Hernandez

Farmers in 10 of Murray-Darling Basin's 23 communities would allow the flooding of their lands' easement covering more than 1 million hectares.

A former whaling captain warned that Japan's annual whale hunt in Antarctica could hurt Australia's $300-million-a-year whale-watch industry.

Australians who want to buy computer games could purchase these items at a lesser cost at retailer Harvey Norman. The lower cost is made possible by removing the general sales tax (GST).

Local stocks once again ended in the red today, as investors remain cautious about buying equities in the lead up to the end of the calendar year and due to more uncertainty in the Eurozone. The All Ordinaries Index (XAO) closed down 48pts or 1.2pct to 4142.8 while the S&P/ASX 200 Index (XJO) fell 48.7pts or 1.2pct to 4090.8.

Mission Australia will hold its 36th yearly Christmas Lunch in the Park (CLIP) at Wellington Square Park in East Perth on Dec 25. The lunch, considered Perth's biggest Christmas Day charity event, is for isolated and lonely people and those without a family to spend the season with.

The digital divide between younger and older Australian would be felt in how they would send their Christmas greetings to loved ones and friends.

The Regional Rail Link Authority of Victoria announced on Thursday the award of $1.6-billion rail contracts to three bidders. The Leighton Group, Lend Lease and UGL won the bid to build a part of the $5.3-billion Regional Rail Link project.

New Zealand Prime Minister John Key and his senior cabinet members will attend the yearly Australia-New Zealand leaders meeting to be held in Australia on January 27-29.

Australia will purchase from the United States 10 military planes and other equipment worth $950 million. The Defense Security Cooperation Agency informed the U.S. Congress on Wednesday on the sales of C-27J aircraft, missile warning systems and radar.

The local share market opened lower this morning after a negative sessions on overseas markets. European markets were held back by uncertainty over the European Central Banks (ECB's) new bond program and the U.S. markets hit by large downward revisions to existing home sales.

The Western Australian government rejected on Wednesday the application of LD Operations to run a coal mine at Osmington hear Margaret River.

Australians drank less beer in 2011 causing a 6 per cent decline in domestic beer consumption. Despite this development, brewer Coopers expanded its market share by 1.5 per cent and produced a record 62.9 million litres of beer.

It was a bad year of Australia's insurance industry which had to pay out more than $4 billion in insurance claims due to the natural calamities that battered the country in 2011.

Overseas investors hold one third of the new Australian apartment market. That's about 13,000 apartments in 37 projects spread across Australia, said property group CBRE.

The long-awaited Christmas rally finally came true for investors today, who were willing to buy equities following a strong showing on offshore markets in the wake of positive economic data out of both the US and Germany. All sectors on the local share market recorded growth, with the All Ordinaries Index (XAO) firmer by 83pts or 2pct to 4190.

Australian mining giant BHP Billiton (ASX: BHP) announced on Wednesday that it has agreed to sell its 51 per cent stake in the Chidliak diamond exploration project in Canada to Peregrine Diamonds (TSX: PGD).

The local share market is seeing a broad based recovery today, thanks to strong leads from US and European markets overnight on positive economic data. The All Ordinaries Index (XAO) is up 81.4pts or 2pct to 4188.5 mid-session.

A survey showed that 20 per cent or 1 in 5 of young Australians favor a cancellation of the annual Christmas celebration. The young people cited the yearend holiday season as the reason behind their increased depression, loneliness and family tension.

Australian banks reminded customers on Wednesday that Dec 24 until Dec 27 are bank holidays. That means that payments between the banks and other financial institutions would not be processed during the four-day period.

Analysts forecast two more overnight cash rate cuts by the Reserve Bank of Australia (RBA). By how much will the cut be and when will it be made depends on the impact of the European recession and its effect on global growth, particularly in China.

Local stocks closed modestly lower today, which was a fairly encouraging outcome given falls in offshore markets and a warning from the European Central Bank that 2012 would be another tough one for the global financial sector. Once again, volumes were low as investors decide to stay out of the market in the lead up to the end of the calendar year. The All Ordinaries Index (XAO) fell 7pts by close to 4107.

Majority of Australians will have as their New Year's resolution to keep fit. Expected to cash in from this personal promise are gyms, fitness centres and personal trainers.

More kids aged 6 to 13 are receiving money as Christmas gifts instead of boxed presents. Market research firm Roy Morgan, in a report released on Tuesday, said 66 per cent of young Aussies get cash as Christmas present, up from 62 per cent in 2007.

Despite her last-minute effort, billionaire Gina Rinehart lost her bid to keep secret the family's legal battle over its $10-billion wealth.

Orica (ASX: ORI) seeks to end Wesfarmers' (ASX: WES) monopoly in the manufacture of explosives in Western Australia by planning to build a $700-million ammonium nitrate plant in Pilbara through a joint venture with U.S. energy firm Apache.

Woodside Petroleum (ASX: WPL) sought permission for the West Australian (WA) government to postpone its decision on the proposed and controversial $30 billion Browse liquefied natural gas (LNG) project to 2013 from mid-2012.

Australian supermarket giant Woolsworths (ASX: WOW) bought 31 pubs worth $500 million across New South Wales.

Stocks of Billabong International Limited (ASX: BBG) fell 34 per cent after the Gold Coast firm forecast lower earnings for the first half of the financial year and issued a profit downgrade due to the chilly summer weather.

Yanzhou Coal Mining of China is in an $8-billion merger talks with Gloucester Coal of Australia. In anticipation of the takeover, Gloucester (ASX: GCL) will halt trading on its stocks on Tuesday.