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Recent World Bank data provides another endorsement of Prime Minister Anthony Albanese ’s economy, as Alan Austin reports. EXPORTERS FOUND 2023 to be a tough year. They were hit badly by low global economic growth, supply chain disruptions due to regional wars and high transport costs. Of the 35 advanced countries in the Organisation for Economic Cooperation and Development ( OECD ) who reported last year’s exports to the World Bank , only three increased exports relative to gross domestic product (GDP) over 2022. Of these, Australia’s expansion was the strongest. This is another global win for the Albanese Labor Government. It follows the strong fiscal results recorded by the International Monetary Fund here and on employment as analysed here by I A colleague Stephen Koukoulas . These achievements stand in stark contrast to the ever-increasing list of the world’s worst outcomes that piled up under the Coalition. World Bank affirms Australia’s ascendancy The World Bank’s development indicators show export and import outcomes for 138 economies from 1974 to 2023. A surge in Australia’s exports occurred from 1984 through to 2001 as a result of the Hawke/Keating Administration freeing up the economy. See chart below. (Data source: World Bank ) From just $22.0 billion in sales to trading partners in 1983, the year Bob Hawke won office, exports surged to $76.9 billion by 1996 when Labor under Paul Keating lost office, then continued to climb to $123.4 billion by 2001. That was an impressive 22.2% of gross domestic product (GDP) — an all-time high. The Rudd Government then hit another high of 23.0% of GDP in 2009, when total annual exports clicked over $200 billion. Trade surged again in 2023 as the result of Labor’s commitment to regional collaboration , restoration of fractured relationships with neighbours, cutting tariffs and better economic management overall. The World Bank measured Australia’s 2023 exports at a record 26.7% of GDP. Australia returns as global leader As was shown during the disastrous Global Financial Crisis of 2008 to 2013, Australia’s Labor Party has an extraordinary gift for navigating troubled international waters. Of the 35 advanced OECD member economies for which the World Bank has recorded last year’s export volumes, 17 experienced a decline. These include normally robust economies Ireland, Germany, the United Kingdom, Netherlands and Belgium. Only 18 increased their exports over the previous year. Just four managed an improvement of more than 5%. Australia ranked third with 6.5% behind Denmark and Costa Rica. See chart below. (Data source: World Bank ) Australia ranking third in the OECD on exports growth in 2023 contrasts with ranking 16th out of the 35 members under the Coalition in 2017, 19th in 2018 and dead last in 2021. Labor’s winning courtships Australia has recently signed or affirmed trade deals with the United Kingdom , India , Thailand , New Zealand and the United Arab Emirates , and has strengthened trade alliances elsewhere. Exports to Bahrain surged from an average of $982 million each year through the Coalition period to an impressive $1,921 million in the twelve months to September this year. Bahrain buys alumina, meat, dairy products and wheat. Mexico, which imports Australian cereals and other agricultural products, was even more impressive. Sales over the eight Coalition years from 2014 to 2021 averaged $346 million per year. This surged in the year to September 2023 to a thumping $952 million, which was almost equaled in the year to September 2024, at $934 million. Other countries currently buying record values of Australian goods include the USA, Switzerland, Hong Kong, Indonesia, Brunei, Fiji and the United Arab Emirates. Trump's tariffs and their effect on the Australian economy Trump's tariffs will hurt the Australian economy and lead to trade tensions. Rupert seeking Rudd’s removal The mainstream newsrooms know Australia’s economy is now advancing strongly and rapidly climbing the global tables. They are determined to conceal this from their audiences so that the corrupt and incompetent Coalition can return to serve the rich and powerful corporate sector. Sadly, this is normal. What is abnormal is the current frenzied campaign by Rupert Murdoch ’s global media to undermine Australia’s relations with the USA, discredit the Labor Government and destroy the career of former Prime Minister Kevin Rudd . News Corp , with the help of Australia’s craven Opposition Liberal Party and other media organisations, including ABC News , is lobbying to get Albanese to sack his Ambassador to the USA, or the incoming Trump Administration to expel him. Recent headlines at Sky News include: ‘ PM must decide whether Kevin Rudd is “capable” of handling Australia-U.S. relations ’ ; and ‘ New call to sack Australia's U.S. ambassador over Kevin Rudd's record of “slagging off” Republican nominee Donald Trump ’ . The campaign is now global, with Murdoch’s New York Post declaring: ‘Australia’s U.S. Ambassador Kevin Rudd faces calls to resign over disparaging anti-Trump comments’. As comedian and social analyst Jordan Shanks explains brilliantly here , News Corp is seeking revenge for Rudd’s earlier crusade in Australia, together with former Coalition PM Malcolm Turnbull , to restrict the damage done by Murdoch’s continual malicious lies . Facts and figures confirm Murdoch’s minions are continually lying to you News Corp in Australia systematically distorts the ‘news’ it publishes, this time on bankruptcies. News Corp has dredged up critical comments Rudd made before he became Ambassador, including that Trump was “the most destructive president in history” , “a traitor to the West” , “a village idiot” and “incompetent” . Harsh, yes, but accurate. Chances of Murdoch succeeding are low given Trump’s closest buddies have been far more scathing of him. These include JD Vance , Elon Musk , Lindsey Graham and Marco Rubio . Clearly, Trump loves converts. Rudd is certainly capable of a form of words to heal any rift, if there was one. So we will see what happens when Trump takes office. Meanwhile, Australians can be mightily satisfied with Ambassador Rudd’s achievements so far. Exports to the USA hit a thumping $6,210 million in the September quarter, up 24.3% on the same period two years ago and an all-time high for any quarter. Now that’s what should be reported! Alan Austin is an Independent Australia columnist and freelance journalist. You can follow him on Twitter @alanaustin001 . This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Australia License Support independent journalism Subscribe to IA. Related Articles ‘Labor big spenders’ myth can finally be laid to rest Cost of Australia's wildlife destruction immeasurable Good global citizenship benefits everyone, especially the good global citizen Albanese Government covers for Coalition in ASIC corruption probe CARTOONS: 'Made in Australia' is trending POLITICS MEDIA INTERNATIONAL ECONOMICS ALBANESE GOVERNMENT World Bank Australian economy Auspol OECD International Monetary Fund IMF Labor Party exports Global Financial Crisis Share ArticleBASEBALL Major League Baseball American League BOSTON RED SOX — Set their 2025 Major League coaching staff: Alex Cora (Manager), Ramón Vázquez (Bench Coach), Andrew Bailey (Pitching Coach), Pete Fatse (Hitting Coach), Ben Rosenthal (Assistant Hitting Coach), Kyle Hudson (Third Base Coach/Outfield Instructor), and Charlie Madden (Bullpen Catcher) will resume their roles on the staff. Jason Varitek will serve as Game Planning and Run Prevention Coach. José Flores has been named First Base Coach/Infield Instructor. Parker Guinn has been hired as Catching Instructor/Bullpen Catcher. Chris Holt was named Bullpen Coach on November 14, 2024. Dillon Lawson was named Assistant Hitting Coach on October 27, 2024. National League ATLANTA BRAVES — Agreed to terms with OF Carlos D. Rodríguez on a one-year contract. Hired Hugh Quattlebaum and Carlos Méndez to the major league coaching staff as assistant hitting coaches. CHICAGO CUBS — Agreed to terms with C Matt Thaiss on a one-year contract. COLORADO ROCKIES — Agreed to terms with LHP Lucas Gilbreath on a one-year contract. LOS ANGELES DODGERS — Agreed to terms with RHP Dustin May on a one-year contract. NEW YORK METS — Agreed to terms with 1B Joey Meneses and C Jakson Reetz on minor league contracts. SAN DIEGO PADRES — Agreed to terms with INF/OF Tyler Wade on a one-year contract. BASKETBALL National Basketball Association UTAH JAZZ — Signed F David Jones to a two-way contract. FOOTBALL National Football League NEW YORK GIANTS — Released QB Daniel Jones. PHILADELPHIA EAGLES — Signed LB Ochaun Mathis to the practice squad. Released LB David Anenih from the practice squad. Placed DL Bryce Huff on injured reserve. SEATTLE SEAHAWKS — Activated DB Rayshawn Jenkins from injured reserve. TENNESSEE TITANS — Placed DB L'Jarius Sneed and LB Jack Gibbens on injured reserve. HOCKEY National Hockey League BOSTON BRUINS — Recalled C Marc McLaughlin from Providence (AHL). Reassigned C Georgii Merkulov to Providence. NASHVILLE PREDATORS — Recalled D Adam Wilsby from Milwaukee (AHL). NEW YORK RANGERS — Reassigned C Jake Leschyshyn to Hartford (AHL). TORONTO MAPLE LEAFS — Recalled D Philippe Myers from a conditioning loan from Toronto (AHL). Placed LW Matthew Knies on injured reserve. Signed C Alexander Nylander to a one-year contract. VEGAS GOLDEN KNIGHTS — Signed C Brett Howden to a five-year contract extension.
Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollarCanada will not offer additional funding to Northvolt, government source says
NoneTaylor Swift concert suite sells for $290,000 at Vancouver auction Four B.C. charities combined raised more than one million dollars by auctioning off four suites to see Swift Glen Korstrom Dec 2, 2024 1:15 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Taylor Swift is currently working her way through the U.S. leg of her Eras tour which she promises will have international dates, will Vancouver be included? @taylorswift/Instagram Listen to this article 00:04:36 Taylor Swift's concerts at Vancouver's BC Place Dec. 6, 7 and 8 are continuing to help local charities. The BC Children's Hospital Foundation on Saturday night (Nov. 30) auctioned 15 tickets to a private suite at one of the Taylor Swift Vancouver concerts for $290,000 – an impressive amount of money but it was not the most that a B.C. charity has garnered for a suite during one of Swift's concerts. The VGH UBC Hospital Foundation on Oct. 19 raised a staggering $320,000 from a winning bid at its Vitality Gala live auction for 15 private suite tickets to see Swift sing in Vancouver. The BC Children's Hospital Foundation's weekend windfall at its Crystal Ball gala did, however, better some other B.C. charities that auctioned off tickets at suites to see Taylor Swift. The Victoria Hospitals Foundation at its Visions Gala Nov. 16 netted $260,000 by auctioning off a 15-person suite to see Swift. The BC Cancer Society was the first local charity to auction off a 15-person suite to see Swift. It raised $125,000 for that suite during an action at its Daffodil Ball in April. Combined, those four suites generated more than $1 million for the charities. PavCo, which operates BC Place, gifted the suites to be auctioned off, PavCo senior manager of marketing and communications Jenny McKenzie told BIV. “For every concert that comes through, we have a certain number of suites and tickets that [we get as] part of our partnership with that tour,” she explained. PavCo sometimes gives tickets and suites to what she called “stakeholders” related to PavCo, but the organization also donates access to suites and tickets to charities, she said. McKenzie said that PavCo has long had an informal system in place to provide suites and tickets to charities, and this year formalized what it is calling its BC Place Community Benefit Program. “By donating tickets, BC Place enables charities to raise critical funds while offering unforgettable experiences to their supporters,” she said. She added that the program reinforces PavCo’s role as a catalyst for positive change and social impact. The Canuck Place Children’s Hospice is another charity that has cashed in on excitement about Taylor Swift. It sold two sets of tickets—eight in total—to a Taylor Swift Vancouver concert for $46,000 at its November 2 Gift of Time Gala auction, which raised more than $1.63 million in support of Canuck Place. Toronto-based telecom Rogers Communications Inc. (TSX:RCI-B) is a presenting sponsor of the Canadian leg of Swift’s Eras tour, which includes six shows in Toronto and three in Vancouver. Because it is a presenting sponsor, it has access to many tickets for internal use. Some of those tickets are being given away to forge customer loyalty while others are being given to charities, Rogers’ senior manager of communication in Western Canada, Leann Yutuc, told BIV. Rogers has been giving away 35 pairs of tickets each week to different Rogers customers who enter draws, she said. “Specific to charities, we have given tickets to BGC Canada, Jays Care, Big Brothers Big Sisters Toronto and Canucks for Kids to distribute to their beneficiaries,” she said. Canucks for Kids received 40 tickets with those going to deserving families to attend a Taylor Swift concert, Yutuc said. Swift has been a vocal supporter of food banks and that has spurred fan Heidi Van Schaik to launch a Canada-wide initiative dubbed Tay It Forward. Waterloo, Ont.-based Schaik has set a goal to raise $1.3 million for Canadian food banks, with that amount chosen because 13 is said to be Swift’s favourite number, and it is one she has reportedly drawn on her hand before performances. Schaik is encouraging fans to make $13 donations, with the campaign slated to end December 13. A wide range of businesses in Vancouver are also cashing in on the Taylor Swift concerts . [email protected] @GlenKorstrom glenkorstrom.bsky.social See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up Related Vancouver charities cashing in on Taylor Swift concert craze Nov 14, 2024 4:00 PM Vancouver fans will enjoy 5G network upgrades at BC Place Nov 22, 2024 2:04 PM Taylor Swift mania an economic gift for Vancouver businesses Nov 12, 2024 4:30 PMNone
Meta plans to build $10B spanning undersea internet cableDaily Post Nigeria N500b unclaimed funds abandoned in TETFUND — House of Reps Committee Home News Politics Metro Entertainment Sport News N500b unclaimed funds abandoned in TETFUND — House of Reps Committee Published on November 30, 2024 By Daniel Chibuike The House of Representatives Committee on TETFUND and other Services has disclosed that more than five hundred billion naira allocated to various benefitting institutions have remained unclaimed with the Fund. This disclosure was made by the Chairman of the Committee, Miriam Odinakachukwu Onuoha when she led lawmakers on a courtesy call to the Abia State Governor, Alex Otti in Umuahia. Onuoha explained that the House has created a separate Standing Committee on TETFUND to ensure better accountability and for judicious utilization of the amounts released. She said the House has relaxed some of the stringent conditions causing the delay, providing an opportunity for the committee to speak with benefitting institutions. “The committee paid a courtesy call and oversight visit to TETFUND on 30/5/2024 and discovered that the funds yet to be utilized were over 500 billion that had been allocated to beneficiary Tertiary institutions and we probed further and found out that there were divergent reasons for this stalemate and accumulation of funds. Onuoha said they were consulting with the affected states and institutions to find out the reasons for the accumulation. She noted that Abia is one of the states with accumulated unclaimed TETFUND resources for tertiary education but promised that her committee will work with the Abia State government and Tertiary institutions to ensure that the State gets the right slice of the TETFUND intervention. Responding to the Committee, Governor Alex Otti said his administration would do everything possible to reclaim funds belonging to Abia State which have not been assessed, saying that the money is needed to fix the ruins in the state’s education sector. Otti said his quest to bring education to an acceptable standard in the state made his administration allocate 20% of the 2024 Abia budget to education alone. Related Topics: Reps tetfund Don't Miss Shun violence, vices that can tarnish your family image – Mogaji of Okugbaja You may like Reps to hold national dialogue on LG autonomy next week Reps to hold special session on Tinubu’s tax bills Reps confirm Oluyede as Army Chief Unfreeze NSIPA account for payment of N81bn stipends to N-Power beneficiaries — Reps to FG MTEF: Reps to probe non-remittance of N8.8trn, $2bn by NNPC Ltd under petroleum subsidy scheme Chief of Army Staff: Reps Committee grills Oluyede behind closed door Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media LtdNo. 7 Tennessee gives up 1st 14 points before rallying to rout Vanderbilt 36-23
NoneFLAGSTAR FINANCIAL, INC. NAMES LEE SMITH AS CHIEF FINANCIAL OFFICER
MEXICO CITY — It would take years, if ever, for Mexico to accomplish what incoming U.S. President Donald Trump is demanding to avoid tariffs: stemming the flow of migrants and drugs over the border. That’s why Mexican President Claudia Sheinbaum’s efforts to avoid a full-blown trade war might be more about doing enough for both sides to claim success. Even a quick phone call — two days after Trump threatened 25% tariffs against his southern neighbor — seemed to change the tone: Trump said on social media that the Mexican president agreed to “stop people from going to our Southern Border, effective immediately.” Sheinbaum, meanwhile, assured her constituents that she touted to Trump Mexico’s existing approach to migration, which she stressed respects human rights, and that a new deal to collaborate would avoid new tariffs, without providing specifics. The whole exchange was reminiscent of Trump’s first term, when he threatened to send troops to shut down the border and then-President Andres Manuel Lopez Obrador responded by sending the national guard to help apprehend migrants. The move had a limited immediate effect, but sent a strong image that proved enough to at least avert tariffs of up to 25% on all imports from Mexico. Trump’s threats have a “dual objective,” said Palmira Tapia, a political scientist currently working for the government of the State of Mexico. The U.S. president-elect, she said, is simultaneously seeking to appeal to his constituents and strengthen his hand in talks on migration, drugs and trade. Sheinbaum also faces two challenges: She now must find a way to appease Trump to avoid tariffs that could hit 11% of Mexico’s gross domestic product, while also avoiding the perception — at home, and in the White House — that she will easily bend to demands from up north. “She’s talking to Trump, but she’s also talking to the Mexican public. It has to do with giving a dignified response before her voters, but at the same time trying to stop Trump,” said Catalina Perez Correa, a researcher at the Supreme Court’s Center for Constitutional Studies. “She’s saying, ‘I’m not going to let myself be stepped on by Trump.’ She’s saving face in front of the Mexican public.” Migration reality Mexico has long been a stomping ground for the U.S. when it comes to migration policy. It’s been tasked under successive U.S. presidents with beefing up its border security, increasing highway checkpoints and removing migrants from freight trains they often board. Even though migration rose far beyond the 2019 levels in the years after Lopez Obrador’s show of militarizing the border, Mexico has remained an at-times willing partner, accepting most of the millions of migrants who were quickly turned away from the U.S. border during the pandemic. But it hasn’t always been eager to help: The Biden administration often viewed AMLO, as the former president was known, as needing frequent reminders of its expectations for him on enforcement. In 2023, Biden Cabinet officials even visited AMLO in Mexico City just days after Christmas to urge him to do more as a record number of migrants reached the border. Under pressure from the White House during the U.S. election, Mexico helped it decrease border crossings by 65% over an 11-month period starting in December 2023. To do so, Mexican authorities have been detaining migrants in the north of the country and busing them south. There, they are forced to wait until they get an official appointment to apply for asylum in the U.S. — which can take months, if it ever happens at all. It’s all resulted in more than double the number of apprehensions of undocumented migrants between January and August compared with a year earlier, although Mexico has deported few. Experts have said that’s creating a humanitarian crisis in some of the southern cities where migrants are shipped off to. It’s also ratcheting up tensions with some locals, who argue that there aren’t enough jobs or resources to accommodate the newcomers. “What they’re doing now in Mexico is militarization of the border,” said Perez Correa. To further reduce border crossings into the U.S., Mexico could either carry out mass deportations or offer more opportunities to migrants in its territory. Both scenarios seem unrealistic. Simply increasing deportations would go against Lopez Obrador’s policy — which Sheinbaum inherited — of trying to address the problems in their origin countries that pushed them to leave, and it would be an expense for Mexico. After Sheinbaum’s call with Trump, she reiterated her government offers migrants options for international protection in its territory or “voluntary or assisted return” to their countries. The second option doesn’t seem feasible either: Most people want to go to the U.S., where they expect to have higher-paying jobs, more family or community support, and greater safety than in Mexico. Chemical diversions Deaths related to fentanyl — the cheap, synthetic opioid — have reached epidemic levels in the U.S. That’s why reining in the flow of the drug was on Trump’s list of demands. Should recent history be any indication, intervention is never simple. The U.S. arrest of a Mexican alleged drug leader has led to prolonged shootouts in recent months. And in any case, some academics argue simply confiscating more drugs means traffickers learn to produce more, to meet U.S. demand. So far, Mexico has worked to improve its technical capabilities to detect illicit substances at its ports, especially precursor chemicals and fentanyl. “The Navy has provided material and personnel to all ports for the fulfillment of these tasks, the personnel have the necessary training to be able to detect these substances,” said Captain Jose Barradas in an interview at the Manzanillo port, in the state of Colima. “All merchandise that arrives is prone to review under strict security protocols.” Sheinbaum also picked former Mexico City police chief Omar Garcia Harfuch to lead a new national security strategy, a move that was read inside Mexico as a signal of her willingness to increase enforcement in areas where the previous administration had been more hands-off. There’s more that could be done — but it would be hard. Trying to seize these substances at ports is insufficient because synthetic drugs tend to be very small, making them more difficult to detect than traditional drugs, said Victoria Dittmar, researcher at Insight Crime. Those who produce them often innovate with their recipes and use new chemicals that are not illegal. “Mexico can open collaboration paths with the private sector, with the chemical industry, because they know perfectly well its supply chains and the vulnerable areas where there could be diversions,” she said. “This collaboration is essential.” Mexico can also work to identify intermediaries that connect fentanyl producers with chemical suppliers abroad and in the country, people who work in certain companies and are authorized to divert these substances, according to Dittmar. Still, “the main weakness is not putting demand reduction as a priority, to prevent overdose deaths,” Dittmar said. “It’s a shared responsibility. It’s not just the fault of Mexico, the U.S. or Canada, but it’s an issue that affects the entire North American region.” A senior Mexican official said that the country’s actions to address drug trafficking have moved the nation in the direction of the fentanyl crackdown that Trump is demanding. The official cited a new law that will allow for coordinated intelligence efforts that is due to be implemented next year. History repeats It’s plausible that in the medium-term Trump will lower the intensity of his threats because a trade war would be the worst case scenario for both countries, said Tapia, the political scientist. But until then, she said, “Sheinbaum is on trial as to how well she will do” relative to her predecessor, who had a respectful relationship with Trump and often praised him. One strategy that Sheinbaum could pursue: Finding ways to give Trump the appearance of political victory. That was part of the rationale behind AMLO’s deployment of the National Guard — a move Trump still talks about now. “We got thousands of Mexicans patrolling our border free of charge,” he boasted at a recent event about his relationship with AMLO. “He’s a socialist,” Trump said. “But these are minor details.” ——— (With assistance from Eric Martin, Carolina Millan and Ramsey Al-Rikabi.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.
WASHINGTON: President-elect Donald Trump on Saturday nominated Charles Kushner, the father of his son-in-law Jared Kushner, as the US ambassador to France, in the latest of several controversial picks. Kushner "is a tremendous business leader, philanthropist, & dealmaker, who will be a strong advocate representing our Country & its interests," Trump said on his Truth Social website, adding that Jared "worked closely with me in the White House." The choice is in keeping with Trump's pattern, so far, of selecting people, often wealthy, who are close to his family or of proven loyalty. Kushner is a multimillionaire real estate executive and former attorney; his son was a senior adviser during Trump's first term. Trump did not mention, however, that the elder Kushner once served jail time - a two-year sentence, most of it served in a federal prison. Kushner, who is now 70, pleaded guilty in 2004 to 18 counts of tax evasion, witness tampering and making illegal campaign contributions. The case, which was prosecuted by then US attorney Chris Christie, included sordid details, to which Kushner admitted: that he had hired a prostitute to seduce his brother-in-law, a man cooperating in a campaign finance inquiry, and then videotaped the encounter and sent it to the man's wife, Kushner's sister, to dissuade her from testifying against him. Christie, who worked on Trump's first presidential transition team and then opposed him in this year's Republican primary contests, later said Kushner had committed a "loathsome" and "disgusting crime." In 2020, Trump issued a pardon to Kushner, whose conviction had resulted in him being disbarred in three states. Nominees for key ambassadorships are often business associates of a president-elect, or major political donors. But it is rare, if not unprecedented, to name a convicted felon. The first two men to fill the prestigious Paris post were famed inventor and statesman Benjamin Franklin and a future president, Thomas Jefferson. If confirmed, Kushner would succeed Denise Bauer, a former ambassador to Belgium who was a major Democratic fundraiser and donor.