In Tunisia, the families of El Hancha’s disappeared fight to find them | Migration News

The families of 37 Tunisians from El Hancha near Sfax who went missing at sea have taken their protest to the capital over what they say is official silence about their missing relatives.

Relatives of the missing people, aged between 13 and 35, said they received phone calls from their family members on board the boat at around 2:30pm on January 11.

However, by 10pm, all contact had been lost.

The boat has remained lost since.

‘The whole of Hancha is miserable’

In the wake of the disappearance, extensive searches have been undertaken by Tunisia’s coast guard, supported by teams from Italy and Malta.

But search operations appear to have faltered, with the last official comment on the issue coming by way of a press release in mid-January.

Fatma Jlaiel, whose 25-year-old brother Ali is missing, was among the families who travelled to the Syndicat National des Journalistes Tunisiens in Tunis on Tuesday, trying to bypass officials and take their case directly to the media.

“No one has contacted us from the government,” Fatma Jlaiel, whose brother, 25-year-old Ali, is among the missing.

“The whole of El Hancha is miserable,” she told a translator. “All you hear in the street are questions about news or rumours. Everyone you meet is hollow-eyed.

The families took their demands to Tunis on February 6, 2024 [Fethi Belaid/AFP]

“Our mothers are sick. We’re constantly checking their blood pressure and sugar levels. They’re devastated.

“It’ll shortly be a month since the boat disappeared,” she said. “We’ve been receiving bits of information from here and there, but we’re doing most of the work ourselves. We’re undertaking the investigations the police are supposed to do,” she said.

Ali was one of the thousands of Tunisians who made their way without papers across one of the world’s most dangerous migratory routes.

Unable to secure regular employment at home, his most recent job had been as a nighttime security guard in Sfax, some 50km (30 miles) distant, which barely left him with enough money for coffee and cigarettes, his brother Mohammed said.

Rumours

In the absence of official information, a variety of theories are taking hold within a population starved of information and desperate for news of family members.

Rumours that the boat may have foundered off the island of Kerkennah, near Sfax, the country’s principal departure point for irregular migration, have been dismissed by relatives over a lack of evidence.

Other theories, like that the boat may have been diverted to Greece, have been investigated and dismissed by the El Hancha families.

Likewise, Tunisians in Italy have gone as far as appointing lawyers to work with authorities in scouring the detention centres where irregular arrivals are often held.

A woman picks through garbage in Kasserine, Tunisia
Poverty, police brutality and lack of opportunity have made life unmanageable for many Tunisians [File: Riadh Dridi/AP Photo]

Contacted by Al Jazeera – and stressing he had no knowledge of the case – Italian prosecutor Salvatore Vella, who deals extensively with undocumented migration, said it was unlikely the disappeared Tunisians had arrived in Italy.

“Typically, the first thing Tunisians do on arrival is contact their families,” he said. That they had not done so, he said, did not bode well.

For the El Hancha families – refusing to accept that their relatives may have been lost at sea – Libya, some 320km (200 miles) distant, remains an increasingly tantalising, prospect.

Armed gangs from western Libya have long traded in the labour of captured refugees, often intercepting convoys of undocumented Black migrants as they seek to cross into the country and bringing them to detention centres where conditions are reported to border upon the medieval.

Ali Buzriba, deputy for the Libyan coastal town of Zawiya told Italian news agency Nova that no boats from Tunisia had arrived in the region in the days after the El Hancha boat’s departure, saying that the seas had been particularly rough at that time.

In addition, Buzriba said he had contacted the head of the maritime division of Libya’s Stability Support Apparatus who also had no information on the missing boat.

Refugees attempt to cross to Italy on metal boat as they are spotted by the Tunisian coast guard, off Sfax, Tunisia, April 27, 2023 [Jihed Abidellaoui/Reuters]

Silence

Majdi Karbai, a member of parliament who is in contact with the El Hancha families, told Al Jazeera that Tunisian authorities’ silence on the issue was because of the character of Tunisian officialdom, as well as concern over the implications of any statement.

“They do not talk to the citizens, they do not talk to the press. Their concern is that this may lead to a repeat of the previous unrest at Zarzis,” he said, referring to the disturbances that followed the loss of a boat carrying 17 Tunisians from the small southern town two years ago, which eventually became a national incident.

“The families have this idea that as long as there are no bodies, their relatives are alive.”

On the phone from El Hancha, Fatma is still angry.

“We need the government’s help and that of the Ministry of Interior’s,” she said of the department with overall responsibility for the search.

“All we’ve been given is a phone number to call when we hear news from our sources. That’s what we do: call the police ourselves to say that our children might be at a certain place.”

“We need to know where our flowers are,” she said, referring to her term for the missing passengers, “We need our government to do its job and look for our precious kids. We’re devastated.”

More than 97,000 people crossed the Mediterranean from Tunisia to Italy in 2023, according to the UNHCR, the majority of those transiting through Tunisia from sub-Saharan Africa. Of those, at least 2,500 are thought to have died.

The true number is likely far higher.

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S Africa’s Ramaphosa renews call for Gaza ceasefire, Palestinian state | Politics News

In annual State of the Nation Address, President Ramaphosa addressed domestic issues and Israel’s war on Gaza.

South African President Cyril Ramaphosa has reaffirmed his country’s commitment to helping secure a ceasefire in the war on Gaza and an eventual two-state solution between Israel and Palestine, during his annual State of the Nation Address.

Speaking before lawmakers at Cape Town City Hall on Thursday, the president said that “guided by the fundamental principle of human rights and freedom”, South Africa had taken up the Palestinian cause “to prevent further deaths and destruction in Gaza”.

South Africa has filed a case at the International Court of Justice (ICJ) in The Hague accusing Israel of genocide in Gaza. Last month, the court issued an interim ruling, saying it has jurisdiction to hear the case and ordering Israel to take all measures to prevent genocidal acts.

“We have welcomed the ruling of the International Court of Justice that Israel must take all measures within its power to prevent acts of genocide against Palestinians,” Ramaphosa said in his address.

“We condemn the killing of civilians on all sides and call on all parties involved in the conflict to commit to a peace process that will deliver a two-state solution,” he added.

Al Jazeera’s Fahmida Miller, reporting from Johannesburg after the address, said South Africa thus far considers its case at the ICJ “a success”.

“Ramaphosa had said that there really is no conflict across any part of the world that is intractable and can’t be resolved through negotiations, and that’s what he said when dealing with the issue of the war on Gaza and saying that South Africa was firmly behind the Palestinian people … and that they would use all diplomatic and legal methods to continue that fight and bring a ceasefire and a two-state solution to that region,” our correspondent added.

30 years of democracy

This year is a key election year for South Africa. Ramaphosa’s governing African National Congress (ANC) has led the country since the first democratic election after the end of apartheid took place in 1994.

Though historically dominant, the ANC is struggling in the polls, and many analysts say it will for the first time get less than the 50 percent parliamentary majority it has won in past elections.

On Thursday, the third-largest opposition party, the Economic Freedom Fighters (EFF) also boycotted the State of the Nation Address after its leader and deputy leader were suspended from parliament for storming the stage during last year’s address.

Ramaphosa, 71, used his address to highlight how far the country has come since the end of apartheid.

“Ramaphosa used the occasion to talk about some of the progress that has been made over the past 30 years,” Miller said. “The ANC is going through a very difficult time. The governing party in South Africa, many would say, has failed millions of South Africans in that little has changed, but the ANC would say something different.”

“Ultimately [Ramaphosa] used the speech to try and highlight what the governing party has done over the past three decades, and to try to get South Africans to come out to the polls, and try and sort of renew their hope in the party, try and fix some of the difficulties the party has experienced,” she added.

Ramaphosa also spoke about the steps his government has taken to address the country’s prolonged energy crisis. “We are confident that the worst is behind us and the end of load shedding is finally within reach,” he said using the local term for blackouts.

He also pledged thousands of new jobs, saying his government “made significant progress on measures to grow the economy, create jobs and reduce poverty”.

Without naming him, Ramaphosa also took a swipe at his predecessor Jacob Zuma, 81, who last month was suspended from the governing party after backing a breakaway party that threatens to take votes away from ANC.

Listing the challenges South Africa has faced in recent decades, Ramaphosa said “perhaps the greatest damage” to the nation was inflicted by the period of massive corruption that marked Zuma’s rule.

“For a decade, individuals at the highest levels of the state conspired with private individuals to take over and repurpose state-owned enterprises, law enforcement agencies and other public institutions,” he said.

“Billions of rands that were meant to meet the needs of ordinary South Africans were stolen.”

South Africans are expected to go to the polls sometime between May and August this year.

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America’s underemployment problem | Business and Economy

New York City, USA – Makalah Monroe works at an Outback Steakhouse in Laurel, Maryland. She is a student and the only one in her household with a car. By any account, Monroe has a full plate of responsibilities that she is working hard to keep up with. She works full-time and yet struggles to get by.

“I often leave an eight-hour shift with only about $60 in hand,” Monroe told Al Jazeera.

With credit card, phone and insurance bills piling up, her current pay is just not cutting it for her. Often, she has to decide which gets paid and what has to wait.

“I usually have to call the car and insurance companies and tell them I either need to pay late or pause payments entirely,” she added.

Monroe is like the millions of Americans whose financial situation hinges on the outcome of the US presidential election. President Joe Biden is set to focus on a number of economic wins during his first term, including record job growth, low unemployment and tumbling gas prices, among other key economic indicators that have made it evident that the US economy is on the upswing.

But the incumbent president, his Republican opponents, third-party candidates and Biden’s longshot Democratic challengers face the harsh realities of underemployment in the United States.

However, with significant economic growth, the question is: Do Americans like Monroe have a better chance for social mobility under the eventual Democratic nominee – most likely Biden – or the most likely Republican nominee, former President Donald Trump?

According to data compiled by the Economic Policy Institute, underemployment sits slightly below 7 percent – the lowest since the agency began tracking the data in 1990. When Trump left office, underemployment was at more than 14 percent. After a peak in March 2021, there has been a steady decline since.

“Since the recovery from the COVID-19 pandemic, unemployment has declined pretty steeply and quickly,” said Lonnie Golden, professor of economics and labour-human resources at the Pennsylvania State University.

Cost-of-living surge

While the Biden administration saw record job growth, it is not clear that the new jobs in question are well-paying sustainable jobs that meet the cost of living across the US.

“In the last year, we’ve seen an uptick in the way the Bureau of Labor Statistics measures the number of people working part-time but would prefer to be working full-time hours,” said Golden.

“These figures kind of mask the extent of underemployment for people because they’re seeking a second job for more income,” she added.

Despite the economic gains, child poverty is up 137 percent, and average rent prices have surged nationally.

According to a new report out from Zillow, the percentage of income needed to rent a median-price apartment in the US jumped by 40 percent since before the start of the COVID-19 pandemic.

In some cities, it is even higher.

In Miami, Florida, renters need to spend 43 percent of the average income to afford a median-price rental apartment. The minimum wage in Miami is $12 an hour.

Nationally, the minimum wage’s buying power peaked in 1968 and has not kept up with the cost of living since.

According to a report by the Federal Reserve Bank of New York, the number of those underemployed is much higher – 33 percent among college graduates. That is because its metric considers graduates working jobs that do not require a college degree.

Amid the recovery, much of the consistent job gains were in the leisure and hospitality sector – an industry that is notorious for low wages.

“The low wage pool is what’s growing the American workforce,” Saru Jayaraman, founder of One Fair Wage, told Al Jazeera.

Jayaraman asserts that Biden, who historically is more pro-worker than his Republican challengers, could do much better strategically if he fully embraces issues about payment.

“It’s getting harder and harder to tell workers to vote for a Democrat who will raise wages when that doesn’t happen,” Jayaraman said.

However, during the last election cycle, Biden did follow through on many of his promises.

One of Biden’s first actions as president was to raise wages across the board via the Raise the Wage Act. But that did not pass as the bill was blocked by Republicans. Biden, however, was able to raise the minimum wage for all federal contractors. The US government is the nation’s biggest employer.

Biden has not acted on abolishing the subminimum wage that allows tipped workers to make a wage of only $2.13 an hour – although many states require higher direct wage amounts for tipped employees. The rest is supposed to be made up in tips – a move that is widely accepted in the food service industry and other domestic industries.

The Trump administration, however, actively tried to limit tipped wages for these same restaurant workers. The former president pushed for business owners to take control of tips and pass them along to workers as they see fit.

Proposed solutions to underemployment include a number of compounding proposals, one of which is the nonprofit One Fair Wage’s push to abolish the subminimum wage nationally.

One Fair Wages efforts have helped get wage measures on the ballot all over the country, garnering more votes than either presidential candidate.

“In 2020, more people voted for a $15 minimum wage in Florida than [the number of votes for] either Trump or Biden,” Jayaraman said.

Faults in proposed fixes

One proposed fix has been a Universal Basic Income. Americans got a taste of that in the early days of the COVID-19 pandemic when the government released one-time payments. That stimulated the economy. Consumer spending surged.

In May 2020, personal spending rose 8.2 percent from the month prior. That had the same effect during the second round of government payouts. Consumer spending ticked up by more than 4 percent in the months following the second release, which was in early 2021.

However, that was one of the many reasons why inflation soared in the years following.

Printing more money means that the individual dollar is less valuable than it once was, driving up prices. Yet wages did not grow nearly fast enough.

“Only a few years ago, it used to be that one in three Americans working full time lived in poverty. We are inching closer to one in two,” Jayaraman said.

The Department of Labor for its part is taking steps to address massive shifts in the economic makeup of the US. In September, the department announced a $57m grant to expand job training programmes, including in large population centres like New York, California, Illinois and Ohio.

The move is aimed at helping those who are underemployed pivot into high-demand and expanding industries related to addressing climate change and staffing up the US’s infrastructure projects.

While the programme is expected to have widespread effects, the Labor Department says it will help about 10,000 workers.

It also comes alongside a wave of unionisation efforts across big businesses like Amazon to even small independent coffee shops. Several companies and trade have successfully lobbied for higher wages and fairer contracts.

That, however, came from empowered workers in individual sectors rather than overarching policies from Washington.

The Biden administration has been largely supportive of unions that have called for fairer contracts like the United Auto Workers, for instance.

Movement, however, is slow. Wage increases are often staggered marginally over several years. The required wage increases for federal contractors were unilaterally implemented by executive order in April 2021 – three months into Biden’s presidency. It took effect a few weeks ago.

But as Washington hypothesises over a myriad of potential solutions, people like Monroe still have rent and electricity bills piling up.

“I’m basically living paycheque to paycheque right now,” Monroe said.

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Why are farmers protesting across Europe? | European Union News

Demonstrators are denouncing EU policies that they say could drive them out of business.

Furious farmers across the European Union are driving their protests home to their countries’ leaders.

They say EU policies, which national governments must enforce, could put many of them out of business.

And more demonstrations are planned in their revolt against high costs, EU climate change policies, food imports and support for Ukraine.

So, what political impact could their actions have?

Presenter: Adrian Finighan

Guests:

Michael Fitzmaurice – independent member of the Republic of Ireland’s Dail (parliament), and an advocate for farmers and rural communities

Francisco Guerreiro – an independent member of the European Parliament with the Group of the Greens and European Free Alliance

Pieter Cleppe – a European policy analyst, and editor-in-chief of the news website BrusselsReport.eu

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In Pakistan, old hopefuls jostle to turn around struggling economy | Business and Economy News

Pakistani voters head to the polls on Thursday amid a deep-seated economic crisis. Inflation is hovering at 30 percent, close to 40 percent of people live below the poverty line, and the debt-to-gross domestic product (GDP) ratio has climbed to 72 percent. Pakistan’s new government will have to contend with these and an ageing public infrastructure.

“We have power outages every day for two hours,” says Muhammad Waqas, a janitor from Islamabad. “In the summer, when it’s hot, you sit idly and suffer.”

As with other state-owned firms, the inability of successive governments to invest in Pakistan’s National Transmission and Despatch Company has left it prone to failure.

More recently, the COVID-19 pandemic and energy supply challenges dampened Pakistan’s growth prospects and constrained efforts to diversify its export base away from low-value-added products – such as cotton and rice – to higher-value goods.

In late 2022, meanwhile, monsoon floods displaced eight million people and cost the country $30bn in damage. The loss of cotton crops ravaged the country’s textile industry, a key source of exports. In all likelihood, Pakistan’s growth rate fell into negative territory in 2023.

Pakistan, which imports much of its food and fuel, consistently records large trade deficits. Owing in part to elevated commodity prices, foreign exchange reserves dwindled to less than one month of imports last May, leading to shortages of vital goods.

The following month, Islamabad narrowly avoided default after it secured a $3bn loan from the IMF – its 23rd fund programme since 1958. However, the lending package came with strict conditions and unpopular reforms.

As part of the deal, the government agreed to impose new taxes on its faltering power sector. It also agreed to lower utility subsidies, which led to sharp hikes in electricity prices, hitting poorer households particularly hard.

Inflation, which reached nearly 30 percent in December, has been climbing since the start of last year after Pakistan’s central bank agreed to liberalise its exchange rate as part of a pre-existing IMF programme. Once exchange controls were dropped, the value of the currency fell sharply.

The Pakistani rupee was Asia’s worst-performing currency in 2023, depreciating by roughly 20 percent against the US dollar. “We think the rupee will continue trending down slightly,” said Krisjanis Krustins, a director at Fitch Ratings. “This will lower Pakistan’s current account deficit as goods from abroad will become more expensive, compressing import levels.”

According to the State Bank of Pakistan, the country posted a balance of payments surplus of $397m last December.

Krustins told Al Jazeera, “Pakistan’s goods imports fell by 27 percent in the last calendar year. As for exports, they continue to be held back by limited human capital and poor infrastructure. So, corrections in the trade account have had a depressing impact on the economy.”

Recent job losses have lifted the official unemployment rate to a record high of 8.5 percent, pitching an additional 8.4 to 9.1 million people into poverty.

‘Structural issues’

Separately, Pakistan has long suffered from “structural issues”, says Tariq Banuri, professor of economics at the University of Utah.

“For starters, Pakistan’s growth rate is not high enough to absorb its rapidly expanding population. It’s also one of the world’s worst performers on tax collection. Agricultural landowners are exempt from income tax, and there’s no capital gains tax on real estate.”

Successive governments have stopped short of imposing robust tax legislation for fear of upsetting powerful business interests, Banuri said. “But that may change this year because of the debt situation,” he added.

Islamabad’s failure to boost tax revenues and modernise state-owned enterprises has generated persistent fiscal deficits and a large debt burden. In absolute terms, external debt reached $125.7bn last year.

Looking ahead, Pakistan faces $24.6bn in external debt repayments by the end of June, the bulk of which is owed to China.

China is Pakistan’s largest bilateral creditor, and Beijing agreed to roll over $2.4bn in loans last year. Many economists expect the incoming government to try and secure longer-term financing from the IMF – its current deal expires in April.

Given the cutbacks to public spending last year, “further fiscal consolidation is unlikely”, says Yousuf Farooq, director of research at Chase Securities. “The Fund is going to try and eke out further conditions, but probably from wealthier sections of society.”

“Assuming the new government can get another IMF loan, it will struggle to repay unless it imposes new taxes on agriculture and real estate. If it can also roll over short-term contracts with longer repayment schedules, I’m hopeful that debt will fall in the near term,” he said.

In the meantime, foreign investment continues to be hamstrung by security concerns along the Pakistan-Afghanistan border. Since the Taliban returned to power in Kabul in 2021, Islamabad has accused its neighbour of harbouring fighters carrying out attacks on its soil.

Political crisis

An unfolding political crisis is also threatening Pakistan’s economic recovery. Today, Islamabad’s fragile democracy is overseen by a caretaker government following Imran Khan’s dismissal as prime minister in April 2022.

The legitimacy of the February 8 elections has been questioned as Khan is absent from the ballot sheet. He is in jail on corruption charges. And while he is disqualified from running, Khan’s approval rating stands at 57 percent, higher than any other politician.

As things stand, the head of the Pakistan Muslim League-Nawaz (PMLN) – is favourite to win. Sharif’s PMLN has assumed power four times in the past three decades, under either himself or his brother Shehbaz Sharif.

Earlier this month, the Supreme Court further weakened Khan’s Pakistan Tehreek-e-Insaf (PTI) campaign by banning the use of a cricket bat as its symbol – a serious setback in a country where millions of illiterate voters identify candidates by their party logos.

For Banuri, the economics professor, “People are right to criticise Pakistan’s political system, which is dynastic and extractive. But for all that, I remain an optimist. I think the worst of the economic crisis is behind us.”

“While I always hope tomorrow will be better than today, I do not think the main political parties will offer meaningful change. They seem to be far more concerned with getting into power,” he added.

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Analysis: India’s 2024 interim budget shows a changing economy | Business and Economy News

India’s Finance Minister Nirmala Sitharaman’s interim budget last week marked nearly 10 years of Prime Minister Narendra Modi’s government. Sitharaman showcased the government’s achievements over the past decade, rather than shower freebies, ahead of national polls due in a couple of months. A careful analysis shows the changing patterns in the Indian economy.

Sitharaman reduced the food subsidy by 3.3 percent to 2.12 trillion rupees ($25.5bn) in 2025 from 2.05 trillion rupees ($24.6bn) in the current fiscal year. The fertiliser subsidy was also reduced while keeping up capital expenditure at 1.3 trillion rupees ($15.6bn).

Keeping such spending in check allowed her to announce that the fiscal deficit would be 5.1 percent for the year ending March 2025, lower than market expectations of about 5.3 to 5.4 percent.

The “fiscal deficit was one of the most surprising things in the budget”, said Suman Bannerjee, the chief investment officer at Hedonova, a global hedge fund. “This was lower than we had expected.”

The reduced subsidy also indicates India’s “move away from agriculture towards manufacturing”, Bannerjee said.

The government had earlier announced free food supplies to India’s poorest, shielding them from potential food price rises.

In her speech, Sitharaman said the average real income has risen by 50 percent, more than 250 million people have been lifted from poverty while the economy has catapulted to the world’s fifth-largest from the 10th in the last decade.

These numbers were disputed by the opposition Congress party.

“COVID and this government’s GST [goods and services tax] have dealt a double blow to the country’s poor and small businesses, which this government has not addressed,” said Manickam Tagore, a Congress member of parliament and party whip.

Demand for the country’s Food for Work programme had grown just in the last year, indicating distress among the country’s poorest, he said.

In her speech, Sitharaman said the lower fiscal deficit was also enabled by growing private investment.

“We had looked at whether private sector capital expenditure is reviving and some green shoots are being seen,” said Sunil Sinha, the principal economist at Fitch Ratings. “There is not yet a broad-based corporate investment revival but investment in steel, cement, renewables and other sectors are growing due to increased government investment in infrastructure.”

The government’s improved tax collection may also have helped reduce the fiscal deficit, Bannerjee said. Higher tax realisation had come by increasing the ambit of luxury tax, such as including restaurant spending.

While India’s economy is expected to grow at a robust 7.3 percent in the year ended March 2024, there is concern that it is urban-centric [Manish Swarup/AP]

All of this allowed the finance minister to keep to her capital expenditure allocations while keeping the fiscal deficit in check. India has been building public infrastructure such as roads, metros and ports at a record pace, driving economic growth. “She has not diluted her capex focus,” Fitch Ratings’s Sinha said.

Rural India

The finance minister also announced several schemes aimed at shoring up the rural economy such as for building rural housing, free food for the poor and boosting aquaculture.

While India’s economy is expected to grow at a robust 7.3 percent in the year ending March 2024, there is concern that it is urban-centric.

“She lives in an ivory tower. She doesn’t know the pain of the people,” the Congress Party’s Tagore said. “Across small towns, I see medium and small enterprises have closed due to the implementation of GST.”

Thursday’s budget measures could help bring the benefits of urban growth to boost the rural economy.  “Some of these are like an indirect income transfer,” said Fitch’s Sinha. “So far, the benefits of growth are accruing to the top 50 percent in urban India. Some investment had to be done so benefits could reach rural areas.”

Gender focus

The finance minister also announced several initiatives to boost women’s skill-building and entrepreneurship, including the expansion of a scheme to train rural women on skills such as bulb-making and plumbing.

Female participation in the rural workforce has been growing, although it is largely in agriculture. This is often marked by low wages and seasonal work. Acquiring such skills could help transition women to manufacturing jobs.

“Data shows that while [the] unemployment subsidy has fallen, female unemployment is down and male unemployment is up,” Hedonova’s Bannerjee said.

India has had low female participation in the workforce, with only 37 percent of women in formal employment in 2023. The finance minister said women’s enrolment in higher education, as well as STEM [science, technology, engineering and maths] courses, had risen sharply in the last decade.

India has been building public infrastructure such as roads, metros and ports at a record pace, driving economic growth [Rafiq Maqbool/AP Photo]

However, Raghuram Rajan, India’s former central bank governor, recently told the BBC that not enough attention had been paid to creating “human capital” in India.

Sinha and Bannerjee underscored that detailed employment data had not been collected in the last decade. “We are flying blind without credible data on jobs,” Rajan had told the BBC.

Renewable energy

The finance minister announced a household rooftop solar energy scheme that will allow 10 million households to claim 300 units of free energy a month. These households could also sell back the surplus energy they generate. She also announced an expansion in charging infrastructure for electric vehicles and viability gap funding for wind power projects.

India has announced a target of getting to net zero by 2070 and these schemes lay out a roadmap towards that.

“The southern states are largely self-sufficient; this will help the northern states where there is a deficit. It will also help develop wind energy, which has lagged other renewable energy,” Hedonova’s Bannerjee said.

Sitharaman also set off the poll season by announcing a white paper to be tabled in parliament, which will look at where the country was until 2014, during the previous government, and where it is now, to draw lessons from the “mismanagement of those years”.

The careful spending ahead of elections may indicate the government’s confidence. It won elections in three major states just weeks ago and Prime Minister Modi also inaugurated the Ram Temple at Ayodhya on January 22 to nationwide fanfare.

Modi said the budget hit a “sweet spot” that made capital expenditure while maintaining fiscal discipline.

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Five richest men doubled fortunes after 2020, Oxfam says as Davos opens | Poverty and Development News

Charity says billionaires $3.3 trillion richer than in 2020 as annual gathering of business elites take place.

The world’s richest five men have more than doubled their fortunes since 2020, the charity Oxfam has said, sounding the alarm about unchecked corporate power as business elites hold their high-profile annual gathering in Davos, Switzerland.

The five men are worth a combined $869bn after growing their fortunes at a rate of $14m per hour during the past four years, Oxfam said in its report “Inequality Inc.”, released on Monday.

Despite the growth in the fortunes of the five – LVMH chief Bernard Arnault, Amazon’s Jeff Bezos, investor Warren Buffet, Oracle co-founder Larry Ellison and Tesla CEO Elon Musk – 5 billion people have gotten poorer over the same period, Oxfam said.

Billionaires are today $3.3 trillion richer than they were in 2020, while a billionaire leads 7 out of 10 of the world’s biggest companies, the London-based charity said.

If current trends continue, the world will have its first trillionaire within a decade but poverty will not be eradicated for another 229 years, according to the anti-poverty group.

Oxfam International interim Executive Director Amitabh Behar said that nobody should have a billion dollars.

“We’re witnessing the beginnings of a decade of division, with billions of people shouldering the economic shockwaves of pandemic, inflation and war, while billionaires’ fortunes boom. This inequality is no accident; the billionaire class is ensuring corporations deliver more wealth to them at the expense of everyone else,” Behar said in a statement released with the report.

“Runaway corporate and monopoly power is an inequality-generating machine: through squeezing workers, dodging tax, privatising the state, and spurring climate breakdown, corporations are funneling endless wealth to their ultra-rich owners. But they’re also funnelling power, undermining our democracies and our rights.”

Oxfam traditionally releases its annual report on inequality just ahead of the opening of the annual World Economic Forum (WEF), launched by German engineer and economist Klaus Schwab in the early 1970s to champion “stakeholder capitalism”.

The charity said that corporations pay about one-third less in taxes than in past decades as a result of a lobbying “war on taxation”, starving governments of money that could be used to benefit the poorest in society.

Oxfam said governments should cap CEOs’ pay, break up private monopolies and introduce a wealth tax to bring in $1.8 trillion dollars each year.

“We have the evidence. We know the history. Public power can rein in runaway corporate power and inequality  – shaping the market to be fairer and free from billionaire control. Governments must intervene to break up monopolies, empower workers, tax these massive corporate profits and, crucially, invest in a new era of public goods and services,” Behar said.

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Jelena Begovic: Serbia’s tech rise in East vs West power struggle | Science and Technology

Serbian minister of science explores how the country’s growth in technology navigates the East-West rivalry.

Following the Cold War’s ideological rift, East-West rivalry persists, fuelled by advances in AI, cybersecurity, telecommunications and biotechnology.

Emerging from conflict, Serbia, once a war-torn nation, has left its pariah status behind.

Two decades after reintegration into the international community, it focuses on science and technology to bridge global divides.

Jelena Begovic, Serbia’s minister of science, technological development and innovation, talks to Al Jazeera about the nation’s advancements and its future aspirations.

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Argentina announces that it will not join BRICS bloc | Business and Economy News

The move is the latest shift in economic and foreign policy by newly elected hard-right President Javier Milei.

Argentina has announced that it will not join the BRICS bloc of developing economies, fulfilling a campaign promise by newly elected far-right President Javier Milei who has pledged to pursue closer ties with the West.

In a letter dated December 22 but released on Friday, Milei told the leaders of Brazil, Russia, India, China and South Africa that the timing for Argentina’s membership in the bloc was not opportune.

Milei said in his letter that his approach to foreign affairs “differs in many aspects from that of the previous government. In this sense, some decisions made by the previous administration will be reviewed.”

Argentina’s new president, a self-described anarcho-libertarian who has pushed forward a series of radical economic reforms since taking office in December, has said that he will pursue a foreign policy that aligns with Western countries, moving away from the previous administration’s efforts to build ties with other developing countries.

Former centre-left President Alberto Fernandez had promoted Argentina’s inclusion in BRICS as a way to foster economic relations with the bloc, whose members account for about 25 percent of world GDP. Argentina had been set to join on January 1, 2024.

Reporting from the capital city of Buenos Aires, Al Jazeera correspondent Monica Yanakiew said that Milei has already issued sweeping changes during his three weeks in office.

“He has already made dramatic changes in all walks of life, from expediting divorce procedures to deregulating prices to eliminating subsidies, everything is changing here now,” she said.

During his campaign, Milei railed against countries ruled “by communism” such as China and neighbouring economic power Brazil and said he would pursue greater alignment with “free nations of the West” such as Israel and the US in his economic and foreign policy.

However, in his letter to the BRICS leaders, Milei said that Argentina would seek to “intensify bilateral ties” in order to increase “trade and investment flows” without joining the group.

Domestically, Milei is also facing substantial pushback from the country’s powerful organised labour groups as he embarks on a programme of economic “shock therapy” and deregulation as Argentina reels from sky-high inflation.

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Mourning and worrying about the future in rural Egypt | Poverty and Development

Cairo, Egypt – Egypt’s grinding economic crisis is top of mind as the country waits for the results of its presidential election in which the incumbent President Abdel Fattah el-Sisi is expected to win.

For decades, Egyptians who could manage it have become economic migrants in other countries, especially in the region, a phenomenon that has accelerated notably in recent years.

Over the last year, inflation has spiked 72 percent on food products while the Egyptian pound has devalued three times. The latter has lost 50 percent of its value and is responsible for pushing many Egyptians into poverty.

In 2019, the World Bank classified 60 percent of Egyptians as either “poor or vulnerable”.

Nazlet el-Sharif

The subdued streets of the village of Nazlet el-Sharif – population about 1,000 – which sits on the Nile in Bani Suef about two hours south of Cairo, bear witness to this hardship in all its layers.

When Al Jazeera visited at the end of September, days after the Mawlid al-Nabawi commemoration of the Prophet Mohammad’s birth, the village was still in full mourning for the 74 village men who died in the catastrophic dam collapse in Derna, Libya, on September 10.

“The cafes are empty or almost empty … many families are at home mourning,” Youssef, who lives in the neighbouring village, said as he jumped off a minibus.

Yousef, 20, is from a small, mostly Coptic village near Nazlet el-Sharif. Like many young people from his village, he is a seasonal employee in Sharm el-Sheikh, a tourism hub in the Sinai Peninsula. But a decline in tourists in recent years, due to the COVID pandemic followed by security incidents in the country, has led to layoffs.

He is still luckier than others who died in the flood in Derna, where 145 Egyptians were killed.

One of the youngest men caught in the Derna catastrophe, and one of the few survivors, was 19-year-old Saad, who had only been in Libya for six weeks. He had gone there to work alongside his older brother Mostafa.

They shared a house and the hell that engulfed Derna that night. Saad was carried away by the waves but managed to escape while 25-year-old Mostafa was not so fortunate. His body has not been found yet.

The bodies of only 60 Nazlet el-Sharif men were repatriated by the Egyptian authorities for a joint funeral ceremony on September 13, attended by the governor of Bani Suef.

The families of the 14 missing men have had no closure, and did not receive the 30,000 Egyptian pounds ($969 officially and $666 on the black market) that the government gave the family of each deceased man.

Like Mostafa’s family, they are devastated by the loss of a loved one who was also their only financial support.

Many of these workers, like Saad and Mostafa, had to borrow money to be able to get to Libya in the first place, and the families had to face those debts. In the case of Saad’s family, they now have to survive on the meagre wages his father Ahmed can make as an agricultural labourer, which is as little as 100 Egyptian pounds ($2-$3) a day.

Economic crisis, political crisis

Like other villages, Nazlet el-Sharif has been sending workers to Libya for decades, mostly in the construction and maintenance sectors.

Their only choice in the country is either to head to Cairo to find whatever odd jobs they can or work as agricultural labourers like Ahmed. And so, many leave.

Remittances from abroad are a source of precious foreign currency for Egypt, which has been struggling to replenish its reserves since the outbreak of the war in Ukraine.

In 2022, remittances totalled $31.8bn, or 7 percent of gross domestic product (GDP), much higher than the income generated by the Suez Canal (around $8bn) and tourism (around $11bn) combined.

This is largely comes from 10 million Egyptian expatriates, including Saad, his brother Mostafa and many others like them.

The state of the economy has angered a lot of Egyptians who are finding it difficult to make ends meet.

However, the precariousness of the economy and the security situation in light of the violence in neighbouring Gaza means that incumbent President el-Sisi is likely to stay in office.

Competing against three untried opposition candidates, el-Sisi still has the loyalty of people like Ahmed who, despite receiving no financial assistance from the government, believes in el-Sisi. “May God grant him health and prolong his life. He has done a lot for us,” he said fervently.

Three months after the tragedy, his family is still struggling. They are still in debt and they have been unable to repay the cost of Saad’s trip to Libya. His brother Mohammad is also working in the village trying as much as he can to help the family.

Meanwhile, Saad spends more time in Cairo where he sees a therapist who helps him overcome his trauma. He started therapy a month ago and has been told by his therapist that he is not fit to work.

Mostafa’s two-year-old daughter and infant son live with his widow, who works as an assistant in the Beni Suef branch of Al-Azhar – the largest religious institution in Egypt, barely earning a living.

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