POLITICS & POLICY

Beijing Vows Stiff Penalties for Bohai Bay Oil Spills

Amidst the public apology issued on Wednesday by U.S. energy giant ConocoPhillips, over oil spills in Bohai Bay, Beijing has ordered a thorough investigation of the affected area to know the exact damage to the environment, reports said.
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Legal Experts: Following the Boss' Instructions - HR Managers Beware

In our December 2010 article (see issue 8.12), we discussed the activities of the Fair Work Ombudsman, the independent regulatory agency that investigates complaints involving suspected contraventions of the Fair Work Act 2009 and its predecessor, the Workplace Relations Act 1996, as well as breaches of awards and agreements.

China Reviews Arms Sales Policies

China plans to adjust its procedures for selling weapons to other countries after news came last week that state-owned arms manufacturers were selling arms to Col. Muammar el-Qaddafi's government in July.

U.N. Peacekeepers Accused of Raping 18-year-old Male in Haiti

The alleged victim, Johnny Jean, and his mother, Rose Marie Jean, told Haitian radio stations he had been raped by Uruguayan marines and provided testimony to a judge in the southern town of Port-Salut, where the incident allegedly took place on July 28.

Australia Recovers, Posts GDP Gains in June Quarter

Australia had a barrelling finish on the second quarter, thanks much on soaring economic activities fuelled by the mining sector, according to the latest report issued by the Australian Bureau of Statistics (ABS) on Wednesday.

South Africa to Ban Liquor Ads to Stem Violence

Having one of the world's highest crime rates,South Africa has revealed plans to ban alcohol advertising in an attempt to curtail violence driven by excessive drinking, the health minister said.

RBA's Stevens: Mining Boom Will Not Ease Down Difficulties Ahead

More good news will be generated by the resources industry but these could be drowned out by continuing pressures seen outside of Australia and the country’s strong dollar is not helping the domestic situation at all, these according to Reserve Bank of Australia (RBA) governor Glenn Stevens.

APRA Timetable for Basel III Seen as Vote of Confidence for Australian Banks

While the global financial sector was talking about the threat of another banking crisis across Europe, the Australian Prudential Regulation Authority (APRA) released on Tuesday a discussion paper that said the regulator would put in place Basel III capital requirements two years ahead of the 2015 deadline.

China Admits Gaddafi’s Forces Visited for Ammunition

The Chinese government through its Foreign Ministry Spokeswoman Jiang Yu has validated Libyan opposition spokesman Abdel Raham Busim’s statement that earlier this year, communist China accommodated Muammar Gaddafi’s forces in hope to purchase firearms and other high-caliber guns following the Libyan rebellion, reports said.

Don Argus Claims Labour Party’s Failings in Managing the Economy

The federal government wanted it the easy way but Australians in general will have to pay the painful price for such monumental blunder, this according to banking stalwart Don Argus, who also warned on Monday that retreating local production, would in the long run hurt the economy.

Gillard’s Approval Rating Plummets to Record Low

Australian Prime Minister Julia Gillard’s popularity drops to record low in an opinion survey released on Tuesday. The same Newspoll results happen to be the sixth in a row to show Opposition Leader Tony Abbott as preferred prime minister over Gillard. The latest poll results prompted Newspoll CEO Martin O'Shannessy to say Labor would lose as many as 40 seats if an election was held today.

RBA Maintains Benchmark Rates at 4.75%

The Reserve Bank of Australia retained the 4.75 percent interest on Tuesday. The bank's Monetary Board cited the volatility which hounds the world financial markets as the reason why it kept the rates which had been unchanged since November 2010.

Is the RBA Carefully Maintaining Australia's Economic Balance?

Fears of internal inflationary pressures and redounding volatility of global markets prompted Australia's central bank to keep the country's cash rates at its current level of 4.75 percent for the ninth straight meeting on Tuesday. This is still the highest among developed nations across the globe trudging with the slow economic recovery.

PM Gillard may Tap Pacific Islands Forum for Asylum Seekers

Deputy Opposition Leader Julie Bishop has contributed an interesting idea to the asylum seeker debate in the wake of Prime Minister Julia Gillard leaving for the Pacific Islands Forum. Ms Bishop has suggested that the PM should use this particular trip to explore the possibility of Nauru taking asylum seekers.

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