Latest updates on Key Economic Indicators:

Australian Dollar: $0.7250 USD (up $0.0030 USD)

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Oil Price (WTI): $73.76 USD (up $0.93 USD)

Gold Price: $1,809.23 USD (up $5.04 USD)

Copper Price (CME): $4.3970 (up $0.0060 USD)

Bit-coin: $50,995.30 (up 4.16% in last 24 hours)

Dow Jones: 36,030.57 at 3.19 NY time (up 276.68 points on yesterday's close)

All changes compared to 7am yesterday.

Crucial industries face 'Massive disruption' over close contact rules

Crucial industries face "Massive disruption" in coming months as more and more workers are taken out of action after being deemed close contacts, a prominent epidemiologist has warned. 

It might mean fewer items to choose from on supermarket shelves, or having to wait even longer for online shopping to arrive at your door. 

Staffing headaches emerged across many Sydney workplaces this week after a recent surge in COVID-19 case numbers, which hit a new high of 5,715 in NSW on Thursday. 

Based on available data, Professor Alexandra Martiniuk (Above) from the University of Sydney said a rough estimate put the number of close contacts somewhere between 23,000 and 80,000 for that day alone. 

Those deemed a close contact, such as someone from the same household, need to isolate for seven days and return two negative PCR tests before being allowed to return to work. 

On Thursday, NSW Premier Dominic Perrottet reinstated some restrictions after revealing 1,500 healthcare workers were in isolation after being exposed to the virus.

Indoor mask-wearing was again mandated, as were QR code check-ins and capacity limits at hospitality venues. 

While Professor Martiniuk enthusiastically welcomed the changes, she said the case numbers would likely keep climbing, albeit at a slower pace. 

She wants more attention paid to the number of staff forced to isolate across all industries, rather than the focus being primarily on ICU and hospital admissions. 

"Even if Omicron was so mild it caused zero hospitalisations, the disruption to our society and health system in terms of workers isolating is massive, especially in crucial workplaces such as food, healthcare and transportation," she said.

"Industries you don't often think of such as sewerage workers, firefighters, journalists might also find themselves struggling to have enough staff to keep going." 

Industry groups say they are bracing for the months ahead.

AstraZeneca vaccine booster works against Omicron

Reuters - Page Online : 24 December 2021 - Original article by Pushkala Aripaka - PortMac.News Summary

Pharmaceutical giant AstraZeneca has advised that laboratory studies undertaken at Oxford University suggest that three doses of COVID-19 vaccine are effective against the Omicron variant.

The study shows a booster shot of the AstraZeneca vaccine results in neutralising levels against Omicron that are broadly similar to those against the virus's Delta variant after two doses.

Pfizer and Moderna have also reported that a booster dose of their vaccines are effective against the new strain.

Majority of NSW COVID-19 cases confirmed as Omicron

9News - Page Online : 24 December 2021 - Original article by Adam Vidler, Savannah Meacham - PortMac.News Summary

New South Wales reported a record 5,715 new COVID-19 cases on Thursday, and one additional death from the Delta outbreak. Chief health officer Kerry Chant has indicated that the Omicron variant now accounts for up to 80% of the state's active cases.

She adds that people aged 10-39 comprise around 70% of Omicron cases in NSW. The state government has responded to the rising caseload by making face masks compulsory in all non-residential indoor settings from 11:59m on Thursday.

NSW will also reintroduce QR code check-ins in most settings, while hospitality venues will be subject to density limits from Monday.

ACT daily Covid record broken for second day

The Canberra Times - Page Online : 24 December 2021 - Original article by Hannah Neale - PortMac.News Summary

The Australian Capital Territory recorded 85 new COVID-19 cases on Thursday, following 58 cases on the previous day.

There are now 245 active cases in the ACT, and three people are in hospital with the respiratory illness.

Some 98.4% of eligible ACT residents are fully vaccinated. Meanwhile, long delays have been experienced at COVID-19 testing sites ahead of Christmas, while the ACT will adopt the same definition of a close contact as NSW and Victoria.

Northern Territory woman in ICU with Covid-19

Northern Territory News - Page Online : 24 December 2021 - Original article by Thomas Morgan, Bethany Griffiths, Raphaella Saroukos, Amanda Parkinson - PortMac.News Summary

The Northern Territory recorded 10 new COVID-19 cases on Thursday; this includes five new cases in the Barkly region, where lockdowns have ended in Tennant Creek and the Ali Curung indigenous community.

There have now been a total of 131 cases in the region's Delta cluster. The NT's new cases include an unvaccinated woman in her 60s who is said to be "Fighting for her life" in intensive care with severe symptoms of the virus.

Health Minister Natasha Fyles says it is a timely reminder of the need to get vaccinated, particularly for people in the Barkly region.

Tennant Creek has now entered a 'lockout' phase.

US to put nuclear subs on fast track

The Australian - Page 1 & 4 : 24 December 2021 - Original article by Cameron Stewart - PortMac.News Summary

Defence Minister Peter Dutton says the US government is supportive of a push to bring Australia's new fleet of nuclear-powered submarine into service ahead of schedule.

The first submarine under the AUKUS alliance was initially slated to be completed in 2040, but Dutton says this is likely to be brought forward to the first half of the 2030s following talks with US and UK officials.

The federal government wants the submarines to be built in Adelaide, but some strategic analysts doubt that Australia currently has the expertise and capability to build a nuclear submarine by the mid-2030s.

Free-trade deal to speed exports to India

The Australian - Page 1 & 2 : 24 December 2021 - Original article by Geoff Chambers - PortMac.News Summary

Trade Minister Dan Tehan has identified free-trade agreements with India and the European Union as key priorities for the federal government in 2022.

Australia and India have agreed to fast-track negotiations over a comprehensive free-trade deal, with Tehan set to hold a virtual meeting with India's Commerce Minister Piyush Goyal on 4 January.

India is currently Australia's seventh-largest trading partner, and two-way trade between the two nations totalled $24.3bn in 2020.

Labour market avoids US malaise

The Australian - Page 7 : 24 December 2021 - Original article by Patrick Commins - PortMac.News Summary

Data from the Australian Bureau of Statistics shows that about 90% of employed people say they intend to remain in their current job for the next 12 months.

However, National Skills Commissioner Adam Boyton says the low unemployment rate and rising job vacancies may encourage more workers to find a better job in 2022.

He adds that people often change jobs in order to get a higher wage.

Meanwhile, EY chief economist Jo Masters says there appears to be no evidence that the 'Great Resignation' trend in the US is being replicated in Australia.

Fight for secret documents behind 'Robo-debt' decision

The Age - Page Online : 24 December 2021 - Original article by David Estcourt - PortMac.News Summary

IT expert Justin Warren is continuing to seek access to confidential cabinet documents regarding the federal government's ill-fated 'Robo-debt' scheme for welfare recipients.

Warren had sought access to 13 such documents under Freedom of Information laws, and the Australian Information Commissioner ruled in 2019 that he was entitled to access 10 of them.

However, the lawyer representing the government has told the Administrative Appeals Tribunal that releasing the documents would threaten the ability of public servants to provide cabinet with "Frank and comprehensive" advice.

Lift in health premiums smallest in 21 years

The Australian - Page 2 : 24 December 2021 - Original article by Adeshola Ore - PortMac.News Summary

Private health insurance premiums will increase by an average of 2.7% from 1 April, compared with an average rise of 2.74% in 2021. Health Minister Hunt say the incremental increase in premiums will help take pressure off the public hospital system.

Private health funds had initially sought a higher increase, but Hunt recently asked them to reconsider and downwardly revise this.

Several large health funds have advised that their premium increases will be deferred until later in 2022.

Buyer beware: fixed rates to rise

The Australian - Page 13 & 18 : 24 December 2021 - Original article by Richard Gluyas - PortMac.News Summary

National Australia Bank recently increased its fixed-rate home loan interest rates for the second time in less than a month.

Fixed rates were the lowest in the Australian market in the first half of 2021, but a series of increases in recent months has resulted in variable rates being the lowest.

Fixed rates are expected to rise again in 2022, although increased funding costs are unlikely to have much impact on variable rate home loans.

Spanish-Australian duo mull massive offshore wind projects

The Australian Financial Review - Page Online : 24 December 2021 - Original article by Elouise Fowler - PortMac.News Summary

Energy Estate has revealed plans for a joint venture with Spain-based BlueFloat Energy to develop three wind farms off the coast of Australia.

The offshore projects will have a combined capacity of 4,300 megawatts and will be located off the coast near Newcastle and Wollongong in New South and Gippsland in Victoria.

The former two projects will feature floating technology, while the Gippsland wind farm will use fixed technology.

The joint venture will consider additional sites in Victoria, South Australia and Tasmania.

Prime investors back Seven takeover

The Australian - Page 17 : 24 December 2021 - Original article by Valerina Changarathil - PortMac.News Summary

About 99.9% of Prime Media Group's shareholders have voted in favour of a $132m takeover bid from Seven West Media.

Prime Media chair Cass O'Connor says the endorsement of the deal is an "Overwhelmingly positive outcome" for shareholders of both groups.

Seven CEO James Warburton says the company is committed to expanding its regional affiliate's local news coverage.

The merger is expected to be completed in February.

Rio Tinto to pause $3.3b lithium mine in Serbia

The Australian Financial Review - Page Online : 24 December 2021 - PortMac.News Summary

Environmentalists in Serbia have targeted Rio Tinto in recent weeks over its proposed lithium project.

Rio Tinto has received another setback after the local municipal assembly scrapped a plan to allocate land for the project.

Media reports have suggested that Rio Tinto intends to put the $US2.4bn lithium project on hold while it engages in a public dialogue regarding the mine.

ASX hits the brakes on Syrah's Tesla surge

The Australian - Page 17 : 24 December 2021 - Original article by Nick Evans - PortMac.News Summary

Shares in Syrah Resources were placed in a trading halt on Thursday, after the stock rallied in response to the announcement of a deal to supply graphite to Tesla.

Syrah advised that the electric car and energy storage battery maker has agreed to buy the bulk of the processed natural graphite that will be produced at its proposed active anode material plant in Louisiana.

A small plant is already operating at the site, but Syrah has yet to make a final investment decision on a full-scale plant.

ASX - US gains, gold help lift stocks

The Australian - Page 21 : 24 December 2021 - Original article by Alex Druce - PortMac.News Summary

The Australian sharemarket posted a solid gain on 23 December, with the S&P/ASX 200 adding 0.31% to close at 7,387.6 points.

National Australia Bank rose 0.6% to $28.71, Pilbara Minerals was up 2.9% at $2.81 and Magellan Financial Group rallied 5.2% to finish at $20.96.

However, Bega Cheese shed 10.3% to end the session at $5.04 and Afterpay was down 2.4% at $85.40.