Latest updates on Key Economic Indicators:

Australian Dollar: $0.7150 USD (up $0.0040 USD)

Iron Ore Jan Spot Price (SGX): $127.15 USD (up $2.75 USD)

Oil Price (WTI): $71.41 USD (up $2.75 USD)

Gold Price: $1,789.08 USD (down $1.76 USD)

Copper Price (CME): $4.3495 (up $0.0470 USD)

Bit-coin: $48,664.76 (up 3.99% in last 24 hours)

Dow Jones: 35,486.89 at 3.26 NY time (up 554.73 points on yesterday's close)

All changes compared to 7am yesterday.

Biden orders Aid From Military and 500 Million Tests

The president is set to unveil his initiatives, which also include creating new federal testing sites and deploying federal vaccinators, in a speech on Tuesday.

President Biden will announce new steps on Tuesday to confront a staggering surge in coronavirus cases, including readying 1,000 military medical professionals to help at overburdened hospitals, setting up new federal testing sites, deploying hundreds of federal vaccinators and buying 500 million rapid tests to distribute free to the public.

The measures, outlined to reporters Monday night by two senior administration officials who spoke on condition of anonymity, come as coronavirus caseloads are rapidly rising around the country, particularly in the Northeast, fueled by the highly infectious new Omicron variant — just as Americans prepare to gather for Christmas.

The 500 million tests that the administration intends to purchase will not be available until January, the senior officials said, adding that the government intends to create a website where people can request that tests be sent to their homes, free of charge.

It was not immediately clear where the tests would come from.

The plan for new federal testing sites will debut in New York City, where several new sites will be running before Christmas. And Mr. Biden intends to continue using the Defense Production Act, officials said, to accelerate production of tests.

The plan has a more urgent tone than the winter pandemic strategy that Mr. Biden announced three weeks ago at the National Institutes of Health, just days after the new variant was discovered in South Africa.

At the time, he promised that the 150 million Americans with private health insurance would be able to get reimbursed for at-home Covid-19 tests starting in mid-January, said his administration would improve access to booster shots and imposed new testing requirements for international travelers.

But that plan — and Mr. Biden’s broader response to the Omicron variant — has drawn criticism from public health experts, who say the president has focused too heavily on vaccination as his central strategy.

Many have called on him to be more aggressive about testing as a means of slowing the variant’s spread — including possibly sending rapid tests to the homes of every American, free of charge.

China accuses Australia of 'Violent' interference in Five Eyes response to Hong Kong election

The Guardian Australia - Page Online : 22 December 2021 - Original article by Daniel Hurst, Vincent Ni - PortMac.News Summary

Australia's relationship with major trading partner China have become further strained in the wake of the recent election in Hong Kong.

Australia and other members of the 'Five Eyes' intelligence alliance issued a joint statement expressing concern about the outcome of the election, which will result in Hong Kong's new legislature being dominated by pro-Beijing candidates.

China has responded by strongly condemning the joint statement; it has also accused Australia of "violently" interfering in China's internal affairs, while noting that Australia has in turn been highly critical of other countries for alleged foreign interference.

Call for calm: 'Rampant' Omicron not as severe

The Australian - Page 1 & 4 : 22 December 2021 - Original article by Geoff Chambers, Michael McKenna, Jess Malcolm - PortMac.News Summary

Prime Minister Scott Morrison has ruled out the reintroduction of lockdowns to combat COVID-19, arguing that the nation must shift from a "Culture of mandates" to a "culture of responsibility".

The snap meeting of the national cabinet on Wednesday will receive updated modelling from the Doherty Institute; according to its worst-case scenario, about 200,000 people in Australia could become infected with the Omicron variant each day by late January unless action is taken to curb its spread.

However, infectious diseases expert Peter Collignon says overseas evidence suggests that the new variant does not result in higher rates of hospitalisation or death than the Delta strain.

Seven-day infection warning as NSW Covid cases surge

The Daily Telegraph - Page Online : 22 December 2021 - Original article by Lauren Ferri - PortMac.News Summary

New South Wales reported a record 3,057 new COVID-19 cases on Tuesday; there are 284 people in hospital state-wide with the respiratory illness, and 11 of the 39 people in intensive care are on ventilators.

The state's toll from the Delta variant outbreak has risen by two, with the deaths of a fully vaccinated man in his 80s and an unvaccinated woman in her 70s; both are said to have had underlying medical conditions.

Meanwhile, NSW health authorities have stressed that many people can contract the coronavirus up to seven days after being exposed to it.

Mask rules may be tightened for Boxing Day Test

Herald Sun - Page Online : 22 December 2021 - Original article by Peter Rolfe, Shannon Deery, Tom Minear - PortMac.News Summary

Victoria recorded 1,245 new COVID-19 cases on Tuesday, and six additional deaths from the Delta outbreak.

However, there were no new cases of the Omicron variant, while there are now 13,355 active COVID-19 cases statewide.

Meanwhile, the national cabinet meeting today is expected to agree to a mask mandate for major sports events such as the upcoming men's Ashes Test at the Melbourne Cricket Ground.

The match is expected to proceed with no crowd limits, but spectators are likely to be required to wear a face mask at all times when they are not in their seats. These rules are also likely to apply at the Sydney Test, which begins on 5 January.

QLD cuts isolation period to seven days

The Australian - Page 4 : 22 December 2021 - Original article by Mackenzie Scott - PortMac.News Summary

Queensland recorded 86 new COVID-19 cases on Tuesday; there are now 269 active cases in the state, including 61 people with the Omicron variant.

Meanwhile, the state government has advised that the quarantine period for fully vaccinated close contacts of people who have tested positive for COVID-19 will be reduced from 14 days to just seven at 1.00am on Wednesday.

Chief health officer John Gerrard says the change will bring Queensland in line with the national standard.

The quarantine period had been slated to be reduced on 1 January.

Earlier booster may cut protection

The Australian Financial Review - Page 4 : 22 December 2021 - Original article by Tom Burton - PortMac.News Summary

Several state governments want the interval between the second and third doses of a COVID-19 vaccine to be further reduced in order to increase immunity against the Omicron variant.

This interval has already been reduced from six months to five, and the Australian Technical Advisory Group on Immunisation will consider a further reduction.

However, virology researcher Stuart Turville from the Kirby Institute warns that doing so may leave people less protected from the Omicron strain.

Novavax's Covid-19 vaccine could be a game changer for anti-vaxxers

Herald Sun - Page Online : 22 December 2021 - Original article by Maria Bervanakis - PortMac.News Summary

The European Union has approved the use of Novavax's protein-based COVID-19 vaccine for people aged 18+.

Protein-based vaccines have been safely used for decades, which may increase the vaccine take-up rate among people who have been hesitant about getting an mRNA-based vaccine like those of Pfizer and Moderna.

Clinical trials have shown that the Novavax vaccine has an efficacy rate of around 90 per cent, with only mild or moderate side effects.

The Australian government has ordered 51 million doses of the vaccine, which has yet to be approved by the Therapeutic Goods Administration.

Push for probe into fake Covid certificate scam

The Australian - Page 5 : 22 December 2021 - Original article by Ewin Hannan - PortMac.News Summary

A casual employee was stood down by O&M Pty Ltd in mid-October after failing to provide evidence of his COVID-19 vaccination status, as required under a directive from the Victorian government.

The employee took the matter to the Fair Work Commission, and contended that he had supplied proof of his vaccination on 22 November.

However, FWC deputy president Richard Clancy says it appears that the employee may have supplied a fake vaccination certificate that was obtained online.

Clancy said this could be a matter of extremely serious public policy concern, and may warrant further investigation by the relevant public authorities.

Tribunal quashes work-from-home hopes

The Australian Financial Review - Page 3 : 22 December 2021 - Original article by David Marin-Guzman - PortMac.News Summary

Queensland's Industrial Relations Commission has rejected a human resources adviser's appeal against a decision to block her from working remotely on a permanent basis.

Queensland Health had ruled in October that the HR adviser's job required her to be on-site at short notice if required, so it would not be feasible for her to relocate to New South Wales to be with her partner.

This is despite the fact that the adviser had been solely working remotely since the onset of the COVID-19 pandemic.

Australian directors identify workforce shortages and cyber security as top economic challenges

MarketScreener - Page Online : 22 December 2021 - PortMac.News Summary

A new survey from the Australian Institute of Company Directors shows that respondents are generally upbeat about the outlook for business and the economy.

The AICD's second Director Sentiment Index shows that workforce shortages are regarded as the top economic challenge facing Australian businesses.

Other key issues identified by the survey respondents include COVID-19, climate change and Australia's relationship with China.

Cyber crime and data security were also identified as a key concern of many respondents.

The survey of more than 1,600 directors was compiled by research firm Roy Morgan.

New Covid variant could hit RBA's plans to taper

The Australian Financial Review - Page 8 : 22 December 2021 - Original article by Ronald Mizen - PortMac.News Summary

The minutes of the Reserve Bank of Australia's monthly board meeting for December show that the central bank remains upbeat about the outlook for the economy.

The RBA does not expect the new Omicron variant of COVID-19 to "derail" the nation's economic recovery. However, the variant may affect the RBA's timetable for winding back quantitative easing.

Harvey says Australians are shopping 'Like crazy'

The Australian Financial Review - Page 17 : 22 December 2021 - Original article by Kanika Sood - PortMac.News Summary

The Australian Retailers Association recently forecast that pre-Christmas consumer spending will total $58.8bn in 2021, which is in line with 2020.

Harvey Norman is among the retailers that are enjoying strong sales in the lead-up to Christmas, with executive chairman Gerry Harvey noting that all of its stores have been very busy and demand has been strong across its product range.

Harvey adds that retailers may offer smaller discounts than usual at the upcoming Boxing Day sales, given that supply chain issues have resulted in less stock to discount.

NRL can't catch AFL in dollar stakes

The Australian Financial Review - Page 18 : 22 December 2021 - Original article by Miranda Ward - PortMac.News Summary

The National Rugby League's new five-year broadcasting rights deal with Nine Entertainment Company is similar to the deal it struck prior to the COVID-19 pandemic.

The NRL was subsequently forced to offer its broadcast partner a discount for the final two seasons of that deal, due to the impact of the pandemic. Meanwhile, the Australian Football League's broadcasting rights remain the most lucrative.

The AFL extended its current deal for an additional two years in late 2020, gaining an extra $946m from its broadcast partners.

Forrest's legal action over Facebook crypto scams

The Daily Telegraph - Page Online : 22 December 2021 - Original article by John Rolfe - PortMac.News Summary

Facebook is under scrutiny by the Australian Competition & Consumer Commission for allowing scammers to place fake advertisements on its digital platforms.

The ads feature 'Endorsements' by high-profile individuals such as Andrew Forrest and Dick Smith to promote scams that have cost some Australians their life savings.

Forrest has launched his own legal action against Facebook for allowing his name and image to be used in ads that promote online scams.

He first raised concern about the practice in April 2019, and personally wrote to Facebook founder Mark Zuckerberg about the issue in November of that year.

Event cancellations return to devastate Australia's music industry

The Guardian Australia - Page Online : 22 December 2021 - Original article by Kelly Burke - PortMac.News Summary

The rising COVID-19 caseload and the new Omicron variant have dealt a fresh blow to Australia's live music industry, which had already been hard hit by the pandemic.

The outbreak in the Hunter region of New South Wales has prompted the cancellation of a number of live shows in Newcastle, including performances by Jimmy Barnes and the Hoodoo Gurus.

Meanwhile, the live music industry has renewed its push for a government-backed insurance scheme for the sector.

Industry estimates suggest that the sector has lost some $64m in income each month since March 2020. 

ASX up 0.9% as travel stocks buoyed by PM

The Australian Financial Review - Page 30 : 22 December 2021 -Original article by Vesna Poljak - PortMac.News Summary

The Australian sharemarket posted a solid gain on 21 December, with the S&P/ASX 200 adding 0.9% to close at 7,355 points.

Rio Tinto rose 3.2% to $101.40, Magellan Financial Group advanced 4.4% to $20.56, Flight Centre was up 3.9% at $17.10.

However, Pilbara Minerals shed 9% to end the session at $2.51 and Namoi Cotton was down 8.8% at $0.465.