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Gauteng, Economic Hub of South Africa, Contributes 35% To The National Economy
Global economic crisis has affected value of South African currency immensely. Amid such economic hardships, Gauteng province has recorded growth above the national average and 35% contribution towards national economy. Gauteng province premier, David Makhura has revealed the information while delivering his State of The Province Address.
US Labor Department Orders Fenox to Pay Back-Wages To 56 Mislabeled Interns
Businesses in the US are in a common practice to to classify workers as interns in order to pay them well below minimum wage or nothing at all. Detection of such practice from a venture fund provider appears to be the first of its kind since US Department of Labor accuses Fenox with the malpractice. The regulator has instructed Fenox to pay back-wages to 56 so-called interns.
Haim Saban, Launches $100 Million Venture Fund For Israeli Startups
Saban Ventures Fund is a newly launched fund aiming to offer investment to the selective business startups in Israel. The venture fund has been launched by Israeli-American media magnate Haim Saban. He is also familiar as one of the major financial contributors to the Hilary Clinton’s election campaign fund.
John Tsang To Deliver Hong Kong Annual Budget
Hong Kong Financial Secretary John Tsang to deliver annual fiscal budget. Hong Kong is predicted to announce surplus while still holding on to conventional approach.