· August, 2012

Stories about Economics & Business from August, 2012

Tracking Counterfeit Medicines in the Developing World

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.

30 August 2012

Chinese Weapons Flooding Africa

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:...

30 August 2012

Hungary: Shantytown Destroyed to Help Real Estate Investment

Some 45-50 people have been living in their makeshift shacks in the abandoned woods of District X in Budapest. Some of the residents have built up self-supporting farms, but in June 2012 the local municipality started to move them out, which is not a unique phenomenon in Hungary's capital.

29 August 2012

Mexico: Egg Price Hike Causes Speculation

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).

29 August 2012

Assessing Quality of Life in African Cities

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?

29 August 2012

Trinidad & Tobago: Independence & Governance

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,...

28 August 2012

Kyrgyzstan: China Inc. Under Attack

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.

24 August 2012

Angolan Tourists Spend Big Bucks in Portugal

'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.'

24 August 2012

Portugal: The Dark Side of the National Dam Program

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.

23 August 2012

Debit Cards in Myanmar

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...

21 August 2012

South Korea: Controversial Launch of Online Music Video Rating

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.

20 August 2012

Guyana: Linden Protests Intensify

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.

17 August 2012

Nepal: KFC and Pizza Hut closed in Nepal

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...

17 August 2012

Russia: Millions of Taxpayer Rubles Earmarked for Facebook “Likes”

RuNet Echo

Earlier this week, Aleksei Navalny took aim at a pending state tender for advertising services to aid the state-owned broadcasting company The Voice of Russia. The dispute surrounding VoR and its Facebook marketing strategy reveals much about how Russians understand online popularity, particularly their low faith in the very concept.

17 August 2012

#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.

15 August 2012