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Australia Increases Minimum Wage To $915 Per Week For Lowest Paid Workers

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Effective July 1, 2024, Australia’s Fair Work Commission has raised the national minimum wage to $915.90 per week, equivalent to $24.10 per hour, representing a 3.75% increase.

This adjustment aims to protect workers’ purchasing power amidst economic changes and inflation, benefiting both Australian employees and international workers on visas.

The annual wage review ensures fair compensation for the country’s lowest-paid workers, setting a new minimum weekly wage of $915.90.

These updated rates apply to all employees under the Fair Work Act 2009, starting from the first full pay period on or after July 1, 2024.

For employers, meeting or exceeding these wage standards enhances their ability to attract and sponsor skilled overseas workers. This adjustment is particularly pivotal for occupations covered by Modern Awards, which dictate industry-specific minimum pay rates and conditions.

Ensuring compliance with these updated wage requirements is crucial for employers navigating Australia’s visa sponsorship landscape. Stricter checks during visa processing will ensure adherence to Australian labour laws, underpinning fair employment practices.

Primarily benefiting workers in sectors like retail, hospitality, cleaning, and social care, this increase shows the Fair Work Commission’s commitment to addressing cost-of-living challenges while mitigating inflationary pressures.

Annually reviewing minimum wage rates considers various economic factors, including inflation and living costs. This year’s adjustment aims to support low-income earners amid Australia’s economic landscape, reflecting ongoing efforts to maintain financial equilibrium.

In July 2023, a 5.75% increase preceded concerns about inflation, which has since moderated to a two-year low of 3.4%. As inflation trends downward, the Reserve Bank of Australia anticipates further stabilization in the near term.

Australia’s upward adjustment in minimum wage benefits both domestic workers and international job seekers. By elevating wage standards, Australia reinforces its appeal as a preferred destination for skilled professionals, fostering a robust labour market and economic stability.

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MOHBAD: Late Singer’s Family Conducts Fresh Autopsy

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The family of late singer Mohbad (born Ilerioluwa Oladimeji Aloba) has ordered a second toxicology test to uncover the truth behind his mysterious death on September 12.

Following his burial the next day, Mohbad’s body was exhumed on September 21 for an autopsy, which was conducted on the same day.

However, in May, it was revealed that the pathologist conducting the autopsy informed the coroner that Mohbad’s body had decomposed by the time the test was performed, potentially compromising the results.

The new toxicology test aims to provide clarity on the circumstances surrounding his death.

The pathologist also said the cause of the singer’s death could not be ascertained.

Mohbad’s autopsy result from the Lagos State University Teaching Hospital (LASUTH) showed that “no significant gross finding” could be attributed to the singer’s death.

The toxicology “revealed the positive finding of Diphenhydramine, an anti-histamine; however, this concentration was not in a fatal or lethal range”.

Last month, the Aloba family rejected the autopsy result while also demanding an independent post-mortem and toxicology test.

In a statement on Tuesday, Monisola Odumosu, a member of Aloba’s legal team, said a two-part autopsy is being conducted on Mohbad.

She disclosed that the first phase had been carried out last week while the second part involved “a toxicology and histology test”.

The lawyer added that the procedure was witnessed by Joseph Aloba, Mohbad’s father, and a pathologist representing Wunmi, the late singer’s wife.

“The second autopsy as requested by the Aloba family and ordered by the Magistrate of the Coroner Court, Ms. T.A. Shotobi, was conducted on Friday, July 19, and Saturday, July 20, 2024. This autopsy is a two-part exercise, with the first part now completed,” the statement reads in part.

“If the cause of death cannot be determined from this initial examination, the second part will proceed, involving a toxicology and histology test on the necessary samples already obtained.

“This comprehensive procedure, conducted last Friday, was witnessed only by Mr. Joseph Aloba, the forensic pathologist appointed by Mr. Joseph Aloba and his team, legal representatives of both Mr. Joseph Aloba and  a pathologist appointed by Wunmi Aloba to observe the procedure.”

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Nigeria’s Foreign Reserves Now $37bn, Up By $2bn In 18 Days — CBN Governor Cardoso

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The country’s foreign exchange reserves have surged to $37.05 billion as of July 18 according to the Central Bank of Nigeria (CBN).

CBN Governor Yemi Cardoso announced this development during a press briefing on Tuesday, following the 296th Monetary Policy Committee (MPC) meeting in Abuja.

The reserves experienced a significant boost, rising by $2.35 billion from $34.70 billion at the end of June to $37.05 billion in just 18 days.

“As of July 18, 2024, external reserves stood at US$37.05 billion, compared with US$34.70 billion as of June 2024. This represents 11 months of import cover for goods and services,” Cardoso said.

However, according to data published by CBN and seen by TheCable, Nigeria’s foreign reserves stood between $35.93 billion as of July 18, and $36.23 billion as of July 22, less than what Cardoso presented.

On July 18, CBN approved the sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,450 per dollar to meet the demand for invisible transactions.

Days after, CBN said foreign currencies worth $106.5 million were sold to authorised dealers.

CBN said the aim is to improve supply in the FX market in tandem with its price stability mandate.

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President Tinubu Signs South-East, North-West Development Commission Bills Into Law

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President Bola Tinubu has officially signed into law the South-East and North-West Development Commission bills.

The South-East Development Commission bill was sponsored by Deputy Speaker Benjamin Kalu, who represents the Bende Federal Constituency of Abia State.

After passing through the Senate and House of Representatives, the bill was transmitted to the President in June for his assent.

With the signing of the bill into law, the Commission will now receive funding to execute various projects in the South-East geopolitical zone.

The allocated funds will be used to address environmental challenges such as erosion, as well as reconstruct and rehabilitate roads in Abia, Enugu, Ebonyi, Imo, and Anambra states.

This move is expected to bring significant development and infrastructure improvements to the region.

In a statement issued by Levinus Nwabughiogu, his chief press secretary, Kalu expressed appreciation to the president for signing the bill into law.

The deputy speaker said the commission will “rehabilitate Igbo land” and foster unity among the people.

Tinubu also signed the north-west development commission bill into law.

Jibrin Barau, deputy senate president and sponsor of the bill, said the signing of the proposed legislation is a “testament” to Tinubu’s “commitment to addressing the challenges facing the north-west geopolitical zone and indeed all parts of the country”.

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