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Our editors will be looking ahead today to these developing stories ...

Tsang gives last policy address as chief executive

Chief Executive Donald Tsang Yam-kuen delivers his last policy address before he retires next year. Housing and the property market are expected to take up major parts of the address, which will define his political legacy. His leadership has been much criticised for failing to tackle the widening wealth gap and for unaffordable housing prices.

Australian Parliament expected to pass carbon tax

Australia's biggest business groups made a last-ditch plea for the government to recast a controversial carbon tax set to pass Parliament today, and which beleaguered Prime Minister Julia Gillard hopes will boost her fortunes. The minority government is expected to see carbon laws approved by Parliament's lower house, after a decade of debate and two previous defeats by lawmakers, then go through the upper house with the backing of Green allies. The laws will force about 500 big polluters to pay for carbon emissions through a carbon tax of A$23 (HK$175) a tonne from July next year.

Minister focuses on mainland's water shortage

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