Economy

NSW Treasurer Gladys Berejiklian announces $400 million abolished in business tax

Exclusive to The Middle East Online Edited by Nelly Tawil On Monday NSW Treasurer Gladys Berejiklian announced mortgage duty, share transfer duty and non-real transfer duty, worth up to $1.8 billion over the forward estimates, will be scrapped when the budget is delivered on June 21. “This is a decision we’ve been able to take because we’re a responsible government,” she said. ...

RBA rate decision: Volatility all but assured

Exclusive to The Middle East Online Edited by Nelly Tawil Australia’s economy for a majority of the past decade has been subject to a “two-speed: economy. Increasingly that divergence is making it more difficult for the RBA to set policy. Accelerated annual economic growth has shown itself with Dr. Jekyll’s side of the economy, moving towards a 30 year average ...

Shorten says Labor “won’t be dictated to by business”

Exclusive to The Middle East Online Edited by Nelly Tawil Bill Shorten has criticized Labor stalwart Keith DeLacy over his reproach of the opposition’s anti-business agenda, mocking the former state treasurer as a company director who wants a tax cut, as business leaders called for an end to class-war politics. Mr. DeLacy said the opposition’s stance on corporate tax cuts ...

Dying for gold: South Africa’s biggest ever class action lawsuit gets go ahead

EDITED BY KALAHAN DENG The most striking thing about Joseph Mothibedi is his voice — it is raspy, a metallic whisper. It’s the sound of a man slowly dying. His thin fingers trembling, Mothibedi leans over his simple hot plate and puts a tea kettle on the boil. The 58-year-old former gold miner looks reduced in his old blue work ...

CHINA AND AFRICAN POLITICS AND DEVELOPMENTS

WRITTEN BY KALAHAN DENG China is deeply involved in the African politics and developments and it is too late to stop its movement since most Africans leaders are now heading to China for financial and development help. As you can see in this article, China’s President Xi Jinping shakes hands with Zimbabwe’s President Robert Mugabe who keeps reminding Africans leaders ...

Why the wealth of Africa does not make Africans wealthy

EDITOR KALAHAN DENG Katanga province in the Democratic Republic of Congo is blessed with enormous natural wealth, including vast deposits of precious minerals such as diamonds, gold, and tantalum. Katanga saw a spectacular mining boom around the turn of the century, when President Laurent-Desire Kabila and then his son Joseph licensed international mining companies to tap its treasures. This arrangement ...

Australian Children rank low in Health and Education

Edited by Nelly T. A new UNICEF report titled the ‘Fairness of Children’ was released in Thursday revealing Australia ranked 27th out of 35 in health equality outcomes among OECD countries and 24th our of 37th in education equality results. Australia is failing to give all children the best start in life said Mega Mitchell National Children’s Commissioner. “UNICEF’s report ...

Australia’s Natural wealth doubles to $6 trillion according to ABS Data

Edited by Nelly T. According to the Australian Bureau of Statistics (ABS) the value of Australia’s natural wealth almost doubled within the last decade, rising from $3 trillion in 2006 to $5.8 trillion in 2015. This is the first time ABS has compiled the environmental and economic indicators which fuel the economy, the figures are based on Australia’s natural assets ...

Victoria’s East West Link funding unlocked

Edited by Nelly T. The Turnbull government has unlocked the earmarked federal funding for Victoria’s East West Link. Part of the $1.5 billion will go to widening the Monash Freeway, which the state government will cooperatively fund the Prime Minister hopes. A list of alternative projects that could be funded with the money allocated for the dumped East West Link ...

PM rebukes banks over treatment of customers

Edited by Nelly T. The big banks were publically reprimanded by Prime Minister Malcolm Turnbull over customer mistreatment after a series of scandals over ruinous financial advice Mr. Turnbull has urged them to redress their wrongs. The Prime Minister warned the banks that if their poor conduct and pay practices continued they will endanger their social licence. “The singular pursuit ...

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