Economy

Philippine Embassies in Jordan, Kuwait, Syria Alleged as Prostitution Dens for OFWs in Distress, Sex in Exchange for Repatriation

Philippine Embassies in Jordan, Kuwait, Syria Alleged as Prostitution Dens for OFWs in Distress, Sex in Exchange for Repatriation

Officials in the embassies of the Philippines located in Jordan, Kuwait and Syria have been alleged to have formed prostitution rings to sexually abuse female distressed overseas Filipino workers (OFWs) in exchange for their repatriation.

The northern part of Queensland state in Australia could be in for a possible tsunami threat after a group of researchers discovered a collapsing sea floor at the Great Barrier Reef.

Make or Break, Australia Maintains World Heritage Site Status for Great Barrier Reef But Only Until 2014, Unless…

Australia was able to preserve the World Heritage Site status for its renowned Great Barrier Reef, but only for until 2014. And unless Canberra can present concrete ways and measures to satisfy UNESCO on how it plans to protect the reef, the World Heritage Site status could easily be changed and included into the body's list of endangered places next year.

File photo of an employee counting U.S. dollar banknotes as yuan banknotes are seen at a branch of the Industrial and Commercial Bank of China in Huaibei

Australian Dollar Outlook - 19 June 2013

Bell FX Currency Outlook: The RBA minutes released yesterday leaves the door open to further cuts in interest rates.

The Pressure is Building in China’s Economy

Yesterday we discussed how financial conditions were becoming tighter across the globe as markets responded to US Federal Reserve Chairman Bernanke's attempts to pull back on the scale of quantitative easing. Right now, the Federal Reserve is monetising around $85 billion per month in Treasuries and mortgage backed securities.

Inside Ben Bernanke’s Doomsday Device

Those who think the world is warming up should visit Edinburgh. It is a city made of stone. Yellow stone. Brown stone. Almost black stone. Almost every building is built of stone. And the entire city sits on a rock.

Lisa Ho

More Australian Jobs on the Line as Fashion Label Lisa Ho Closes, Holden Mulls Cost Cutting

Even if the country's unemployment rate went down to 5.5 per cent for May, some Australian workers may not feel secured in their jobs as companies continue to close or put in place cost-cutting measures that may result in some workers losing their means of livelihood.

Devalued Pound Hurts Egyptians While Morsi Government Dithers

The Egyptian currency has lost 8 percent against the dollar in 2013, and the embattled government is out of ideas on what to do.

G8 leaders

G8 Agrees 'Lough Erne Declaration' on Tax Evasion Crackdown

Declaration includes call for tax authorities to share information and stop company profits being shifted around to avoid taxation.

Rising Housing Costs Drove U.S. Inflation Higher By 0.1% In May, Gasoline Price Flat, Food Costs Drop

The change in the price of goods and services purchased by consumers rose in May by 0.1 percent.

US Housing Starts In May Rose To 974,000, Below April's Revised Level Of 1,005,000 But Higher Than Analyst Expectations

U.S. housing starts rose to 950,000 in May, but not at April's level.