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· August, 2012

Stories about Economics & Business from August, 2012

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Tracking Counterfeit Medicines in the Developing World

  30 August 2012

Some 700,000 people die annually from fake malaria and tuberculosis drugs alone. The WHO reports that the annual earnings from substandard or counterfeit drugs stand at about USD 200 billion. More important than its economic impact, counterfeit medicines pose a significant global public health problem.

Chinese Weapons Flooding Africa

  30 August 2012

Deborah Brautigam from China in Africa provided more background information about the importation of Chinese Weapons in African countries and explained the incentive of arms sale is from private sector: As we saw in the notorious Libya case, it appears that Chinese companies with their own balance sheets are “going...

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Mexico: Egg Price Hike Causes Speculation

  29 August 2012

The increasing price of eggs, a staple in Mexico, has caused speculation and malpractices, as well as discontent and suspicion among consumers. The price of a kilo of eggs has almost reached the Mexican daily minimum wage ($ 4.6 USD or € 3.66).

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Assessing Quality of Life in African Cities

  29 August 2012

One study on the quality of life in cities across the world reports that, of the ten least liveable cities, six are situated in Africa. However, another finds that the populations of certain African cities are happier than those of several European counterparts. So what exactly is the reality of quality of life in Africa's cities?

Trinidad & Tobago: Independence & Governance

  28 August 2012

Afra Raymond uses the recent firing of a junior minister in the Ministry of National Security, Colin Partap, and Trinidad & Tobago's upcoming 50th anniversary of Independence to think about issues of governance, responsibility, and fitness for high office.

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Kyrgyzstan: China Inc. Under Attack

  24 August 2012

China’s growing economic presence in Kyrgyzstan continues to be a topic for heated discussion in Kyrgyz society. In the country’s regions, this discourse is reflected in acrimonious standoffs between Chinese companies and locals, confrontations the mainstream media often fails to report on.

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Angolan Tourists Spend Big Bucks in Portugal

  24 August 2012

'Little by little we see Angolan money starting to dominate businesses and the economic sectors in Portugal.' According to a netizen this is in stark contrast to 70% of Angola's population which 'is barefoot, have empty stomachs, (and) live in a slum.'

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Portugal: The Dark Side of the National Dam Program

  23 August 2012

The dams in the Programa Nacional de Barragens (National Dam Program) will cost the Portuguese government €16 billion, to be spent on construction, subsidies and interest on loans. Together with wind farms, they are going to make Portuguese electricity the most expensive in the world.

Azerbaijan: An Alternative Energy Partner for Europe?

  22 August 2012

Baku Views, a blog on economic commentary and opinion from Azerbaijan reflects on a recent NY Times column by Paul Krugman on Europe's dependence on Russian energy, noting that with its gas pipelines projects, Azerbaijan could be an alternative, reliable energy partner. In its opening notes, the blog also compares...

Debit Cards in Myanmar

  21 August 2012

Starting September 2012, Myanmar consumers would be able to use[my] debit cards serviced by the Myanmar Payment Union. Using a credit/debit card as a mode of payment in Myanmar has never been popular though it was once introduced in 2000 but cancelled in 2002.

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South Korea: Controversial Launch of Online Music Video Rating

  20 August 2012

South Korean authorities have launched a new ratings system for music videos posted online. The new bill requires every music video (or promotional video) and even movie trailers to be rated prior to upload. Failure to comply could result in up to two years in prison or a hefty fine.

Cameroon: Contesting Magazine's “Failed States” Report

  18 August 2012

Francois-Xavier from Cameroon wrote: “Foreign policy in collaboration with the Fund For Peace has issued the eight annual failed states index and a joint photo essay which they titled Postcards from Hell. The report has stirred much controversy and citizens mostly from the countries topping the report have reacted negatively to...

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Guyana: Linden Protests Intensify

  17 August 2012

The protests in Linden, Guyana have intensified with the recent burning of buildings. Netizen commentary suggests that what began last month as a peaceful demonstration about increased electricity rates has broadened into political wrangling, while bringing to the fore serious questions about the power of the police and the military.

Nepal: KFC and Pizza Hut closed in Nepal

  17 August 2012

Chandan Sapkota informs that the closure of KFC and Pizza Hut in Nepal due to militancy shown by ad-hoc committee of All Nepal Hotel and Restaurant Workers Union-Revolutionary (ANHRWU-R) will have impact in the foreign investment in the country.

#DearEgyptAir, Better Service Please

Over the past few years it has become apparent that, if one has a loud enough voice and a big enough audience—not to mention a good sense of humor—social media can serve as a great platform for change. On Wednesday, Egyptians took to Twitter to complain—and joke—about national airline Egypt Air.

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