Economy

Mining Council warns mining’s impact ‘invisible and just assumed’

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The mining industry needs to do more to address perceptions it doesn’t do enough to manage its environmental impact, share the prosperity it creates with the wider community or look after its staff, according to the chairperson of the… Darren Gray The Canberra Times In a speech to be delivered on Monday in Perth, Dr Guthrie will say that while Australian mining “has a strong track record in mine rehabilitation and investing in regional communities,” it needs to do more ... Read More »

UN Begins Talks on World’s First Treaty to Regulate High Seas

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UNITED NATIONS, Sep 7 2018 (IPS) – After several years of preliminary discussions, the United Nations has begun its first round of inter-governmental negotiations to draft the world’s first legally binding treaty to protect and regulate the “high seas”—which, by definition, extend beyond 200 nautical miles (370… Thalif Deen “The high seas cover half our planet and are vital to the functioning of the whole ocean and all life on Earth. The current high seas governance system is weak, fragmented ... Read More »

Freedom of Navigation and the Environment

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The US has long maintained that freedom of navigation (FON) for warships in foreign 200-nautical-mile Exclusive Economic Zones (EEZs) is essentially “absolute.” Mark J. Valencia IPP Review China and some other countries disagree and have placed some restrictions on the activities of foreign warships and aircraft in their EEZs. But the US is undermining its own position by placing restrictions on its own military’s activities, and by extension those of foreign militaries, in its own EEZ. Military activities in EEZs ... Read More »

Under pressure govt backtracks on Atif Mian appointment; removes economist from advisory council

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The Pakistan Tehreek-i-Insaf (PTI) government has asked Princeton University economist Atif R. Mian to step down from the Prime Minister Imran Khan-led Economic Advisory Council (EAC), PTI Senator Faisal Javed Khan announced on Friday. Fahad Chaudhry Dawn The decision follows mounting pressure from religiopolitical partiesagainst the appointment of Dr Mian, who is an Ahmadi. According to a tweet by Senator Javed, Mian has agreed to give up his position on the council. A replacement will be announced later, he… Minister of ... Read More »

Iran and Turkey Divert Iraq’s River Waters, Leaving Iraq on the Brink of Catastrophe

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Global attention has been focused on the strained Ethiopian-Egyptian relations due to the construction of the Renaissance Dam by Ethiopia on the Blue Nile, whose reservoir – once filled – will probably lower the… Col. (ret) Dr. Jacques Neriah Institute for Contemporary Affairs But little attention has been given to the brewing conflict over the Tigris (Dajla in Arabic) and Euphrates (Furat in Arabic) waters, both iconic rivers on which Iraq’s existence in both ancient and… Deadly riots in Iraq’s ... Read More »

A new and more efficient payments system will be a magnet for fraud. Here’s how to prepare

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Most credit card fraud takes place online or over the phone. It’s not the cards that are stolen, but the details. The Conversation, By Steve Worthington ABC The Australian Payments Network finds they are used to amass 85 per cent of the money stolen using Australian credit cards, without the need to steal the cards themselves. Usually, we are not liable for the money lost. It is reimbursed through our card provider if we have quickly reported the breach and ... Read More »

Working long and hard? It may do more harm than good

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Nearly half of people in the EU work in their free time to meet work demands, and a third often or always work at high speed, according to recent estimates. Authors: The Conversation If you are one of them, have you ever wondered whether all the effort is really worth it? Employees who invest more effort in their work report higher levels of stress and fatigue, along with lower job satisfaction. But they also report receiving less recognition and fewer ... Read More »

Construction Of TurkStream’s 2nd Leg In Russia’s Exclusive Economic Zone Over – Gazprom

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Russian energy giant Gazprom has completed the construction of the second leg of the TurkStream gas pipeline in Russia’s exclusive economic zone, the company said in a statement Wednesday. Rukhshan Mir MOSCOW (UrduPoint News / Sputnik – 05th September, 2018) Russian energy giant Gazprom has completed the construction of the second leg of the TurkStream gas pipeline in Russia‘s exclusive economic zone, the… “Gazprom’s Management Committee considered the current status of the TurkStream project. It noted that the… Construction Of ... Read More »

How solar kits and battery lamps are replacing kerosene across Africa

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For decades, people in rural Africa have been using sooty kerosene lamps to dimly light their homes. Jörg Peters The Conversation But in recent years households, even in poor areas, have started to replace their kerosene lamps with non-rechargeable dry-cell battery driven lamps and solar kits. This is happening largely without any governmental or donor involvement. These devices are equipped with light-emitting diodes (LED) that have become significantly cheaper over the years. This has, in turn, made them a highly ... Read More »

Coast Guard interdicts lancha crew illegally fishing in U.S. waters

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Coast Guard crews from Corpus Christi interdicted a Mexican lancha crew illegally fishing in waters off the Texas coast on Sunday. KRIS Communications According to the Coast Guard, four fishermen onboard the boat were detained and turned over to Border Patrol for processing. Coast Guard also seized 113 red snapper and two sharks from the vessel. A lancha is a fishing boat used by Mexican fishermen that is approximately 20 to 30 feet long, with a slender profile, typically has ... Read More »

Chilean Navy captures Peruvian vessel fishing in Exclusive Economic Zone

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SANTIAGO – During a surveillance patrol, the Chilean Navy captured the fourteenth foreign vessel in the early hours of Friday morning, which was fishing in waters belonging to the Exclusive Economic Zone of the… The Santiago Times While the Maritime Zone Patrol Officer OPV-84 “Cabo Odger”, dependent of the Fourth Naval Zone, carried out surveillance operations, it detected a Peruvian minor vessel within the Exclusive National Economic Zone, 172 kilometers west of… The fishing vessel named “Jean Anthony” was inspected ... Read More »

Demonetisation in India: A Democracy Deficit

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Demonetisation On November 8, 2016, when the United States of America was busy electing a populist president in Donald Trump, India’s own populist prime minister, Narendra Modi came up with a unique economic decision. Shubbam Ghosh EurasiaFuture In one stroke, he invalidated two high denomination currency notes the nation had been using –  Indian National Rupee notes (INR) valued at INR 1,000 and INR 500. According to Modi and his supporters, the move was a… On August 29, 2018, almost ... Read More »

The Decade of a Rising China: 10 Years After the Financial Crisis

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It is 10 years in September since Lehman Brothers went bankrupt bringing global capitalism to the point of collapse. Jenny Clegg CounterPunch Although the crash did not finally lead to a total meltdown, it triggered a slump of 1930s proportions and for most economies the last decade has been a lost decade of low growth, low investment, low productivity, marked by debt and deficit, with virtually no improvement in real incomes for the… The stand-out story of the period has ... Read More »

Helping the Burundian People Cope with the Economic Crisis

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Burundi’s worsening economy threatens to incite further violence in an already unstable country. ICG The European Union and its member states, who have suspended direct aid to the government, must redouble efforts to ensure that their support benefits the Burundian people. What’s happening?  In the wake of the political and security crisis ongoing in Burundi since 2015, the economy has suffered a sharp decline. The economic and social progress achieved since the end of the civil war in the 2000s ... Read More »

Turkey calls on country’s religious authority in struggle to keep prices down

BURSA, TURKEY - JUNE 10: An imam leads the first Friday Prayer during the Muslim holy fasting month of Ramadan at Fatih Sultan Mehmet Mosque in Bursa, Turkey on June 10, 2016. Ali Atmaca / Anadolu Agency

As the Turkish lira continues to be hit by losses in value against foreign currencies, the government has been struggling to keep prices down, even going to the extent of using the… TM “[Islam] certainly forbids unlawful profits such as bribery, usury, speculation, black marketing and rigging prices, which challenge moral values and disrupt the peace in the society,” the weekly sermon said, according to the… Earlier this week one of Turkey’s biggest retailers, BİM, known for its cheap prices ... Read More »

Turkey might not like the West, but needs it

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When President Trump sanctioned two Turkish ministers—an unprecedented measure involving a NATO ally—and announced the doubling of trade tariffs early in August, he further aggravated the steadily deteriorating U.S.-Turkish relationship. Kemal Kirişci Brookings The moves came after the Turkish government refused to allow Pastor Andrew Brunson, who is facing spurious espionage and terrorism charges, to return to the United States. Turkey’s currency, already fragile, went into a tailspin, and has lost nearly half its value compared to the beginning of ... Read More »