Australia has made history by passing a world-first law that effectively bans children under the age of 16 from using social media. The landmark decision comes in response to growing concerns about the adverse effects social media has on the mental health and well-being of young people, including rising incidents of cyberbullying, addiction, and exposure to harmful content. The legislation, which was approved by Parliament earlier this week, mandates social media platforms to enforce stricter age verification systems. These new regulations will ensure that individuals under 16 years old will be unable to create accounts or access platforms like Facebook, Instagram, TikTok, and Snapchat. Social media companies now have until early 2025 to implement the necessary changes, giving them time to adapt to the new rules. Under the new law, platforms will be given a one-year grace period to comply with the age verification requirements. Starting in 2025, social media companies will be legally required to deploy systems capable of detecting and blocking users under 16. If they fail to meet these regulations, they will face hefty fines, with penalties potentially reaching up to $50 million AUD for repeated violations. The law has placed significant pressure on social media companies, which will need to develop and integrate advanced age verification technologies to comply. US universities urge Indian students to return before Trump takes office Some platforms have already begun exploring digital identification systems and facial recognition technologies to better authenticate users' ages. However, the widespread use of such technologies has raised privacy and data security concerns. Australian Prime Minister Anthony Albanese has hailed the new law as a crucial step in safeguarding the country’s youth. He emphasised that the legislation aims to protect the mental and emotional health of children in the digital age. The decision comes after extensive research by Australian health experts, who have long warned about the dangers posed by social media for young people. Studies have shown a strong link between excessive social media use and a range of mental health issues, including depression, anxiety, and sleep disorders. China sentences journalist to 7yrs for espionage A 2023 report by the Australian Psychological Society revealed that nearly 40 per cent of teenagers reported feelings of anxiety or depression linked to their online experiences. Cyberbullying and the pressures of social comparison have been identified as major contributing factors to these challenges. By implementing this groundbreaking law, Australia has set a precedent for the rest of the world, challenging other nations to consider the long-term impact of social media on the younger generation and the steps necessary to mitigate those effects. Source: With inputs from wirers  

Thousands of demonstrators gathered outside the Georgian parliament and clashed with police for the second consecutive night on Friday, protesting the government's decision to halt talks about joining the European Union. The previous night, police used water cannons, tear gas, and pepper spray to disperse protesters in Tbilisi, the capital, after Prime Minister Irakli Kobakhidze of the ruling Georgian Dream party announced the suspension. The Interior Ministry reported that 43 people were arrested during the protests. On Friday evening, demonstrators again gathered near the parliament, with some attempting to break through metal gates. Riot police used water cannons to push the crowd back and continued to move them further away from the building along Rustaveli Avenue, the city’s main street. Some protesters built barricades using garbage bins and benches. Georgia's ruling party picks former soccer player as its presidential candidate Protests also erupted in Batumi, a port city on the Black Sea, late on Friday. The contested victory of Georgian Dream in the October 26 election, which many saw as a referendum on the country’s EU aspirations, triggered large protests and an opposition boycott of parliament. The opposition claimed the vote was rigged, alleging Russian interference to keep Georgia within its sphere of influence. President Salome Zourabichvili joined the protesters on Thursday, accusing the government of waging “war” on its own people. In a Friday address, Zourabichvili urged the police to avoid using force against the demonstrators. Although Zourabichvili holds a largely ceremonial role, she declared the election was manipulated with Russia’s help, citing Georgia’s historical ties to Russia. The government’s decision to suspend EU negotiations came shortly after the European Parliament condemned the October vote as neither free nor fair, reflecting Georgia’s ongoing democratic decline, which it attributed to the ruling party, Georgian Dream. European election observers described the election as divisive, marked by bribery, double voting, and violence. In December 2023, the EU granted Georgia candidate status, contingent upon meeting specific requirements. However, the EU later suspended progress on Georgia’s membership and reduced financial aid due to the passage of a “foreign influence” law seen as undermining democratic freedoms. European lawmakers have called for a new parliamentary election within a year under international supervision and an independent election administration. They also suggested imposing sanctions and limiting formal interactions with the Georgian government. In response, Prime Minister Kobakhidze dismissed the European criticisms, accusing EU politicians of launching a “cascade of insults” and turning the European Parliament into a tool of blackmail. He asserted that Georgia would continue its path to EU membership but would not tolerate disrespect or manipulation from European politicians. Kobakhidze also announced that Georgia would reject any EU budgetary grants until 2028. Critics of Georgian Dream, which was founded by billionaire Bidzina Ivanishvili, claim the party is growing more authoritarian and pro-Russian. The party has recently passed laws resembling those in Russia that restrict free speech and target LGBTQ+ rights. In June, the EU suspended Georgia’s EU membership application indefinitely after the parliament passed a law requiring organizations receiving significant foreign funding to register as “pursuing the interest of a foreign power,” similar to a Russian law used to discredit opposition groups.      

A cryptocurrency entrepreneur who bought a piece of conceptual art consisting of a simple banana, duct-taped to a wall, for $6.2 million last week ate the fruit in Hong Kong on Friday. Chinese-born Justin Sun peeled off the duct tape and enjoyed the banana in a press conference held in The Peninsula Hong Kong, one of the city's priciest hotels, in the popular shopping district of Tsim Sha Tsui. “It tastes much better than other bananas. Indeed, quite good," he said. “Comedian,” by Italian artist Maurizio Cattelan, was a phenomenon when it debuted in 2019 at Art Basel Miami Beach, as festivalgoers tried to make out whether the single yellow piece of fruit affixed to a white wall with silver duct tape was a joke or a cheeky commentary on questionable standards among art collectors. At one point, another artist took the banana off the wall and ate it. The piece attracted so much attention that it had to be withdrawn from view. But three editions sold for between $120,000 and $150,000, according to the gallery handling sales at the time. Last week, Sun, founder of cryptocurrency platform TRON, made the winning bid at the Sotheby’s auction in New York. Or, more accurately, Sun purchased a certificate of authenticity that gives him the authority to duct-tape a banana to a wall and call it “Comedian.” At the time, Sun said in a statement that the piece “represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.” "I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture,” he said. The South China Morning Post reported the banana he ate on Friday was bought in Hong Kong. Sun on Tuesday announced on X he had invested $30 million in World Liberty Financial, which was launched by U.S. President-elect Donald Trump in September as his family's cryptocurrency venture. Sun said in the post that his platform, TRON, is “committed to making America great again and leading innovation." Following his investment in Trump's venture, he became an advisor of World Liberty Financial. Last year, Sun was charged by the U.S. Securities and Exchange Commission with fraud and other securities law violations. In response, he said on X the complaint “lacks merit."

Wage inequality has decreased in about two-thirds of all countries since 2000, says a new report released by the International Labour Organization (ILO) on Thursday. Despite this positive trend, significant wage inequality persists worldwide. ‘The Global Wage Report 2024-25: Is wage inequality decreasing globally?’ finds that since the early 2000s, on average, wage inequality, which compares the wages of high and low wage earners, decreased in many countries at an average rate that ranged from 0.5 to 1.7 percent annually, depending on the measure used. The most significant decreases occurred among low-income countries where the average annual decrease ranged from 3.2 to 9.6 percent in the past two decades. Wage inequality is declining at a slower pace in wealthier countries, shrinking annually between 0.3 and 1.3 percent in upper-middle-income countries, and between 0.3 to 0.7 percent in high-income countries. ILO to launch new report highlighting wage trends, inequality today Moreover, even though wage inequality narrowed overall, decreases were more significant among wage workers at the upper end of the pay scale. Real wages rose globally but regional differences persist The report also finds that global wages have been growing faster than inflation in recent times. In 2023, global real wages grew by 1.8 percent with projections reaching 2.7 percent growth for 2024, the highest increase in more than15 years. Such positive outcomes mark a notable recovery when compared to the negative global wage growth, of -0.9 percent, observed in 2022, a period when high inflation rates outpaced nominal wage growth. However, wage growth has been uneven across regions, with emerging economies experiencing stronger growth than advanced economies, the report finds. While advanced G20 economies registered a decline in real wages for two consecutive years (−2.8 percent in 2022 and −0.5 percent in 2023), real wage growth remained positive for both years in emerging G20 economies (1.8 percent in 2022 and 6.0 percent in 2023). Regional wage growth patterns varied considerably Wage workers in Asia and the Pacific, Central and Western Asia, and Eastern Europe experienced their real wage increases at a faster rate than those in other parts of the world, according to the report. "The return to positive real wage growth is a welcome development," said ILO Director-General, Gilbert F. Houngbo. Bangladesh ranks 9th among countries at the highest risk of climate-induced disasters: ILO Report "However, we must not forget that millions of workers and their families continue to suffer from the cost-of-living crisis that has eroded their living standards and that wage disparities between and within countries remain unacceptably high." Persistent wage inequality Despite recent progress, high levels of wage inequality remain a pressing issue. The report shows that globally, the lowest-paid 10 percent of workers earn just 0.5 percent of the global wage bill, while the highest-paid 10 percent earn nearly 38 percent of this wage bill. Wage inequality is the highest in low-income countries, with close to 22 percent of wage workers there classified as low-paid. Women and wage workers in the informal economy are more likely to be among the lowest paid. This finding reinforces the need for targeted actions to close wage and employment gaps and ensure fair wages for all wage workers. Wage inequality is relevant in all countries and regions. Globally, however, one in every three workers is a non-wage worker. In most low- and middle-income countries the majority are self-employed workers, who can only find opportunities to earn a living in the informal economy. It is for this reason that the report broadens its analysis to include the self-employed in the case of low- and middle- income countries. As a result, measured labour income inequality increases significantly in these regions, as compared to that measured based only on wages from wage workers. "National strategies to reduce inequalities require strengthening wage policies and institutions," says Giulia De Lazzari, ILO Economist and one of the main authors of the report. "But equally important is to design policies that promote productivity, decent work and the formalization of the informal economy." Strengthening wage policies to reduce inequality The study emphasizes the need for targeted policies to foster inclusive economic growth. The report concludes that reducing wage inequality requires both strong wage policies and structural support for equitable growth. By addressing these challenges countries can make real progress toward reducing wage gaps and promoting fair, sustainable, economic growth for workers worldwide. Key ILO recommendations include: Setting wages through social dialogue: wages should be set and adjusted through collective bargaining or agreed minimum wage systems involving governments, workers and employers. Taking an informed approach: wage-setting should take into account both the needs of workers and their families and economic factors. Promoting equality, and equal opportunity of treatment and outcomes: wage policies should support gender equality, equity and non-discrimination. Using strong data: decisions should be based on reliable data and statistics. Addressing root causes of low pay: national policies should reflect each country’s specific context and address the causes of low pay such as informality, low productivity and the under-valuing of jobs in sectors such as the care economy.

Fuel has become one of Bolivia’s most scarce resources, with long queues of vehicles stretching for kilometers outside gas stations across the country. Some drivers wait for days to buy just a few gallons of diesel, unless the station runs out of fuel altogether. People like Victor García, a 66-year-old driver, now spend their days eating, sleeping, and socializing around their parked trucks, unsure of when they will be able to refuel. The ongoing fuel shortage is happening against the backdrop of plummeting foreign currency reserves, making it difficult for Bolivians to find U.S. dollars at banks or exchange houses. Imported goods that were once readily available are now scarce, exacerbating the crisis. The fuel shortage is deeply affecting the economy, disrupting daily life, commerce, and agriculture, while driving up food prices. Public frustration has boiled over into protests, with citizens demanding action from President Luis Arce ahead of next year’s elections. “We want effective solutions to the shortage of fuel, dollars, and the increase in food prices,” said Reinerio Vargas, vice rector of Gabriel René Moreno Autonomous University, as hundreds of residents and truckers took to the streets of Santa Cruz to voice their anger. Similar protests, with people chanting “Everything is expensive!” have erupted in the capital, La Paz. Many Bolivians feel that Arce’s government is in denial about the severity of the crisis. Despite repeated promises to resolve the shortages, including a recent commitment to fix the fuel situation in 10 days, the situation remains unchanged. As the government’s deadlines come and go, the exchange rate for the U.S. dollar on the black market has surged nearly 40% higher than the official rate. The country, once a rising economic star in South America due to its natural gas exports, now finds itself grappling with dwindling fuel production. Bolivia spends around $56 million a week importing fuel from countries like Argentina, Paraguay, and Russia. The fuel shortages are also affecting farmers, making it difficult to transport goods and operate essential machinery, particularly during the crucial planting season. The price of basic food items, such as potatoes, onions, and milk, has doubled in recent weeks, fueling inflation that now ranks among the highest in the region. Bolivians are cutting back on spending, and many are struggling to afford basic necessities. Angela Mamani, a 67-year-old grandmother, described how she couldn't afford to buy vegetables for her family at El Alto’s open-air market. At the same time, a government budget proposal for 2025, which includes a 12% increase in spending, has faced backlash from lawmakers and business leaders, who warn it could lead to more debt and inflation. Meanwhile, the ruling party is divided, with Arce locked in a battle with former president Evo Morales for the presidency in the 2025 elections. Morales’ supporters recently staged a 24-day protest that blocked major roads, causing billions of dollars in losses for the economy. Although the protests have been dispersed, Arce’s government continues to blame Morales’ blockades for the ongoing fuel crisis. In the face of all this, many Bolivians are calling for change. “People don’t live off politics; they live day to day, off of what they produce and what they earn,” said Geanina García, a 31-year-old architect, struggling to find affordable food in El Alto.

At least 13 people lost their lives in eastern Uganda as landslides engulfed 40 homes across six villages, according to relief officials on Thursday. The Uganda Red Cross Society confirmed the recovery of 13 bodies while rescue efforts remain underway. Local media reports suggest the death toll could climb to 30. Rescuers recover 20 bodies from flash floods and landslides on Indonesia's Sumatra island Triggered by heavy rains on Wednesday night, the landslides struck the mountainous Bulambuli district, an area prone to such disasters. On the same day, the prime minister’s office issued a disaster alert, highlighting that severe rainfall had disrupted major roads nationwide.

Russia is engaged in a massive missile and drone attack against Ukraine’s energy infrastructure Thursday, officials said, as fears mount about Moscow’s intentions to devastate the country's power generation capacity before winter. “Attacks on energy facilities are happening all over Ukraine,” Energy Minister Herman Halushchenko said in a post on Facebook. He added that emergency power outages are being implemented nationwide. Explosions were reported in Kyiv, Kharkiv, Rivne, Khmelnytskyi, Lutsk, and many other cities in central and western Ukraine. The head of Ukraine’s presidential office, Andrii Yermak, said in a Telegram post that Russia had stockpiled missiles to strike Ukrainian infrastructure and wage war against civilians during the cold season. “They were helped by their crazy allies, including from North Korea,” he wrote. Over 280,000 households in the northwestern Rivne region are currently without electricity because of the attack, said the regional head, Oleksandr Koval. There are also interruptions to water supplies in affected areas. Some schools in Rivne city have been instructed to study remotely Thursday. There were also strikes on the bordering Volyn region, where 215,000 households have no electricity, said the head of administration, Ivan Rudnytskyi. All critical infrastructure that lost power has been switched to generators. Russia to use new missile again in 'combat conditions': Putin Local officials ordered opening the “points of invincibility” — shelter-type places where people can charge their phones and other devices and get refreshments during blackouts. In Kyiv, where the air raid alert lasted over nine hours, missile debris fell in one of the city’s neighborhoods, local officials said. No casualties were reported.  

The International Labour Organization (ILO) will unveil the latest edition of its Global Wage Report today (3:30 pm Dhaka time). 'The Global Wage Report 2024-25: Is wage inequality decreasing globally?' provides a detailed look at wage trends around the world and in different regions, highlighting changes in wage inequality and real wage growth. It explores key challenges workers face globally and sheds light on patterns of income differences between and within countries, said the ILO. The ILO Director-General, Gilbert H. Houngbo, and Rosalía Vázquez-Alvarez, ILO Economist and Wage Specialist, will present the report at an online press briefing.  

South Korea’s central bank on Thursday lowered its key policy rate for the second straight month and said the country’s economy will grow at a slower pace than it initially anticipated. Following a meeting of its monetary policymakers, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 3%. The bank lowered its outlook for the country’s economic growth from 2.4% to 2.2% for 2024 and from 2.1% to 1.9% for 2025. It was the second straight month that the bank took steps to lower borrowing costs and expand money supply, despite the lingering effects of high inflation and alarming levels of household debt, as concerns grow about a faltering economy. The bank had also slashed its policy rate by a quarter percentage point to 3.25% in October, which presented its first rate cut since May 2020, when the economy was grappling with the COVID-19 pandemic. The bank said the country’s trade-dependent economy is facing growing uncertainties in global economic trends and inflation, which it said could be impacted by the policies of the new U.S. government led by Donald Trump and ongoing geopolitical conflicts. 'Everything is expensive!' Bolivia faces a shocking economic collapse Since winning reelection, Trump has vowed to slap huge new tariffs on foreign products entering the United States, including those from Mexico, Canada and China, which he insists will create more domestic jobs and shrink the federal deficit. The Bank of Korea said South Korea’s economy has been losing its growth momentum amid weak domestic consumption, slowing exports and decreasing employment. “Going forward, domestic consumption will see a mild recovery, but the recovery in exports is likely to be weaker than initially anticipated due to intensifying competition and strengthening of protectionist trade policies in key industries,” the bank said in a statement.  

Fuel is rapidly becoming one of Bolivia’s scarcest commodities. Long lines of vehicles snake for several kilometers outside gas stations all over Bolivia, once South America’s second-largest producer of natural gas. Some of the queues don’t budge for days. While frustration builds, drivers like Victor García now eat, sleep and socialize around their stationary trucks, waiting to buy just a few gallons of diesel — unless the station runs dry. “We don’t know what’s going to happen, but we’re going to be worse off," said García, 66, who inched closer to the pump Tuesday as the hours ticked by in El Alto, a bare-bones sprawl beside Bolivia's capital in the Andean altiplano. Bolivia's monthslong fuel crunch comes as the nation's foreign currency reserves plummet, leaving Bolivians unable to find U.S. dollars at banks and exchange houses. Imported goods that were once commonplace have become scarce. The fuel crisis has created a sense that the country is coming undone, disrupting economic activity and everyday life for millions of people, hurting commerce and farm production and sending food prices soaring. Mounting public anger has driven crowds into the streets in recent weeks, piling pressure on leftist President Luis Arce to ease the suffering ahead of a tense election next year. “We want effective solutions to the shortage of fuel, dollars and the increase in food prices,” said Reinerio Vargas, the vice rector of Gabriel René Moreno Autonomous University in the eastern province of Santa Cruz, where hundreds of desperate truckers and residents flooded main squares Tuesday to vent their anger at Arce’s inaction and demand early elections. In a similar eruption of discontent, protesters shouting “Everything is expensive!” marched through the streets of the capital, La Paz, last week. Bolivians say Arce's image has suffered not only because of the crisis but also because his government insists that it doesn't exist. “Diesel sales are in the process of returning to normal,” Economy Minister Marcelo Montenegro said Tuesday. Arce has repeatedly vowed that his government will end the fuel shortages and lower the prices of basic goods by arbitrary deadlines. On Nov. 10, he again promised he would “resolve this issue” in 10 days. As the deadlines come and go, the black market currency exchange rate has risen to nearly 40% more than the official rate. Arce's office did not respond to interview requests. “The queues are getting longer and longer,” said 38-year-old driver Ramiro Morales, who needed a bathroom after four hours in line Tuesday but feared losing his place if he went searching for one. “People are exhausted.” It’s a shocking turnaround for the landlocked nation of 12 million people that was a South American economic success story in the 2000s, when the commodities bonanza generated tens of billions of dollars under the nation’s first Indigenous president, former President Evo Morales. Morales, Arce’s one-time mentor, is his present-day rival in the fight to be the ruling party’s candidate next year. But when the commodities boom ended, prices slumped and gas production dwindled. Now, Bolivia spends an estimated $56 million a week to import most of its gasoline and diesel from Argentina, Paraguay and Russia. Economy Minister Montenegro on Tuesday pledged that the government would continue providing fuel subsidies that critics say it can’t afford. Banners from two years ago boasting that Bolivia’s inflation is the lowest in South America still greet tourists arriving at El Alto International Airport. Now, inflation is among the highest in the region. Fuel shortages prevent farmers from getting their produce to distribution centers and markets, triggering a sharp price hike for food staples. Last week in La Paz and neighboring El Alto, hungry Bolivians jostled in long lines to buy rice after much-delayed shipments finally arrived from Santa Cruz, the country's economic engine some 850 kilometers (528 miles) away. With the diesel shortage affecting everything from the operation of tractors to the sourcing of machinery parts, the shortage is also hurting farmers during the crucial planting season. “Without diesel, there is no food for 2025,” said Klaus Frerking, the vice president of the Eastern Agricultural Chamber of Bolivia. The prices of potatoes, onions and milk have doubled in El Alto’s main wholesale food market in the past month, vendors said, overshooting the country’s nearly 8% inflation rate. Nervous Bolivians are cutting back on their consumption. “You have to search a lot to find the cheapest food,” said 67-year-old Angela Mamani, struggling to pull together meals for her six grandchildren at El Alto's open-air market Tuesday. She planned to buy vegetables but didn’t have enough cash and went home empty-handed. This week, Arce's government presented a 2025 budget — with a 12% increase in spending — that drew backlash from lawmakers and business leaders who said it would lead to more debt and more inflation. While the governing Movement Toward Socialism party tears itself apart in the power struggle between Arce and Morales, both politicians have seen the economic morass as a way to strengthen their positions ahead of 2025 elections. Canada is already examining tariffs on certain US items following Trump's tariff threat “They deny there are problems. They blame external contexts and conflicts,” said Bolivian economic analyst Gonzalo Chávez. Morales' supporters last month launched 24-day protest partly targeting Arce’s handling of the economy that blocked main roads and stranded commercial shipments, costing the government billions of dollars. Security forces broke up the rallies almost a month ago. But on Tuesday, Arce's government continued to blame Morales' blockades for spawning the ubiquitous fuel lines. “We need change,” said Geanina García, a 31-year-old architect scouring the grocery hub of El Alto for cheap deals — a once-routine errand that she said had turned into a nightmare. “People don’t live off politics, they live day to day, off of what they produce and what they earn.”