Australia: Minimum wage increased almost every year
Highest minimum wage in Australia - OECD Australia has the highest minimum wage in the developed world, according to the Organization for Economic Co-operation and Development (OECD). Its after-tax rate of $9.54 per hour is followed by Luxembourg with $9.24 and Belgium with $8.57. "They have a high minimum wage. And interestingly...
Property investment can’t help fight income inequality
I was surprised to read that real estate developer City Developments (CDL) suggested that property investment could help fight income inequality ("CDL: Property investment can help narrow income gap"; last Thursday). It seems that CDL, like most developers, is hoping that the Government will tweak its property cooling measures...
China’s factory activity contracts for third month
(Photo: Getty Images) (20 May) - China's manufacturing sector contracted for a third straight month in May as output shrank at the fastest rate in a year, a private survey showed on Thursday. The HSBC flash Purchasing Managers' Index (PMI) came in at 49.1, weaker than the 49.3 print forecast by Reuters but better than the 48.9...
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