AUD Markets News 

Asian stocks poised for cautious trade on the back of weak sentiment

“South Korea’s Kospi was trading lower by about 0.15 percent” writes Eustance Huang for cnbc.com. Stocks in Asia were trading cautiously in morning trade on Monday following a report suggesting further turmoil for the markets in 2019, and after a Wall Street sell-off on Friday.The heavily-weighted financial subindex fell nearly 1 percent, with shares of Australia’s so-called Big Four banks seeing declines.Meanwhile, Australia’s ASX 200 was trading at around 0.03 percent higher, with the sectors in mixed territory. Source: cnbc.com Share This:

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AUD News 

Australia recognizes West Jerusalem as Israel’s capital: PM Morrison

“Australia now recognizes West Jerusalem, being the seat of the Knesset and many of the institutions of government, is the capital of Israel,” Morrison said” writes Midwest Communications Inc for 95kqds.com. SYDNEY (Reuters) – Australia formally recognizes West Jerusalem as Israel’s capital, reversing decades of Middle East policy, but will not move its embassy there immediately, Prime Minister Scott Morrison said on Saturday.He confirmed Australia’s support for a two-state solution with a Palestinian capital in East Jerusalem. Source: 95kqds.com Share This:

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AUD News 

Pacific nations urge Australia to abandon coal within 12 years

“Pacific countries vulnerable to climate change have urged Australia to abandon coal power generation within 12 years, and to prohibit new coal plants or expansion of existing plants” writes Ben Doherty for theguardian.com. But its perceived political intransigence on climate, particular its commitment to maintaining, and even expanding, coal power generation, is alienating it from Pacific neighbours – historic allies, many of which are low-lying atoll nations experiencing the effects of climate change most acutely.As the COP24 UN climate talks in Poland remained stalled over an unwillingness from major emitters…

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AUD News 

Australia gave endangered birds to secretive German ‘zoo’, ignoring warnings

“Multiple emails from the Australian environment department to ACTP, obtained under freedom of information laws, reveal concerns that exported birds, or their offspring, would be sold” writes Philip Oltermann for theguardian.com. In paperwork submitted to the environment department in 2017, the organisation said it had facilities in five other countries, including one in the Netherlands. Source: theguardian.com Share This:

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AUD Markets News 

Asia stocks fall after China reports weaker than expected trade data

“Stocks in Asia traded lower Monday morning following significantly weaker-than-expected Chinese trade data released over the weekend” writes Eustance Huang for cnbc.com. Japan’s Nikkei 225 fell more than 2 percent in early trade while the Topix index dropped 1.88 percent.Over in Australia, the ASX 200 fell 1.71 percent earlier in morning trade to touch lows not seen since Dec. 2016, with almost all sectors seeing losses. Source: cnbc.com Share This:

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AUD News Oil Regulators 

Asian stocks take a breather after days of declines

“That was a rebound from Thursday, when the index saw declines amid a broader sell-off across the Asia Pacific region” writes Eustance Huang for cnbc.com. Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day.The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively. Source: cnbc.com Share This:

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AUD News 

Australia goes full tilt toward encryption bill

“Why it matters: The bill gives law enforcement the ability to compel tech firms to circumvent encryption in their products to aid law enforcement” reports axios.com. The original bill was marketed as one that gives law enforcement access without the creation of back doors or mass surveillance, and indeed it specifically bans “systemic surveillance.”. Australia is a member of the Five Eyes alliance along with the U.S., U.K., Canada and New Zealand, and the bill is seen by many as a stepping stone toward new encryption laws in other nations. Source:…

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AUD News 

Oz passes cyber snooping laws with global implications…

“Brushing off warnings from tech giants that the laws would undermine internet security, MacGibbon said they would be similar to traditional telecommunications intercepts, just updated to take in modern technologies” writes Glenda Kwek for yahoo.com. National cyber security adviser Alastair MacGibbon said police have been “going blind or going deaf because of encryption” used by suspects.There has been extensive debate about the laws and their reach beyond Australia’s shores in what is seen as the latest salvo between global governments and tech firms over national security and privacy.”We now have…

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AUD News 

Australia passes bill to force tech firms to hand over encrypted data

“When it becomes law, Australia will be one of the first nations to impose broad access requirements on technology firms, after many years of lobbying by intelligence and law enforcement agencies in many countries, particularly the so-called Five Eyes nations” writes Min Read for reuters.com. SYDNEY (Reuters) – Australia’s parliament on Thursday passed a bill to force tech firms such as Alphabet Inc’s Google (GOOGL.O), Facebook FB.N and Apple (AAPL.O) to give police access to encrypted data, the most far-reaching such requirements imposed by a western country.The bill provides for…

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