Economy

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 ...

Australian Rates Hold at 2%

Edited by Nelly T. For the 11th time in a row the Reserve Bank of Australia (RBA) has left it’s interest rate unchanged at two percent. Apprehensions about leaving the persistently high Australian dollar rates on hold were shrugged off by the RBA who appear unconcerned. The wider market and economists seemed to expect the lack of movement. “The recent ...

800 Australians identified in Panama Papers leak

Edited by Nelly. T The unprecedented leak of more than 11 million documents from Panamanian Law Firm Mossack Fonseca has resulted in the investigation of 800 Australian residents by the Australian Tax Office (ATO). The residents were among those named in a massive leak of tax and financial records known as the Panama Papers. The information was obtained by the ...

Turnbull works to rectify health cuts

Edited by Nelly Tawil Prime Minister Malcolm Turnbull has confirmed he is working to rectify Tony Abbott’s grievous hospital funding cuts. Although he wouldn’t confirm any dollar figure, reports imply it’ll cost $5 billion. Mr. Turnbull is expected to meet state premiers and territory chief ministers in Canberra later this week to give a proposal to maintain activity-based funding and ...

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