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02.10.26 - 12:18
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A costly bite: Global food prices rise to their highest level in nearly four years (Times of India)
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In a concerning trend, global food prices have surged to their highest point in nearly four years, driven by disruptions in trade and adverse weather conditions. According to the United Nations' Food and Agriculture Organization, there are marked increases in the costs of cereals, sugar, and vegetable oils. Interestingly, the prices for meat and dairy products have dipped during this period....
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02.10.26 - 07:48
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Inside the Auctions for Singapore′s Seized Luxury Goods (Bloomberg)
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Three years after a S$3 billion money laundering scandal hit Singapore, some seized luxury items like designer bags have been snapped up at auction. But upscale condos are struggling to find buyers. Srinidhi Ragavendran explains why. (Source: Bloomberg)...
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02.10.26 - 04:01
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Australia′s Tobacco Taxes Have Fueled A Massive Black Market For Cigarettes (ZeroHedge)
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Australia's Tobacco Taxes Have Fueled A Massive Black Market For Cigarettes
One lesson governments never seem to learn is that when taxes push the legal price of something high enough, a black market will eventually show up to collect the difference.
Australia is now getting a particularly ugly demonstration of that principle. After more than a decade of relentlessly increasing tobacco taxes in an effort to crush smoking, the country has created an enormous price gap between legal and illegal cigarettes, and organized crime has rushed in to fill it, according to the Financial Times.
A legal pack of cigarettes now costs close to A$60, or roughly US$42, making Australian cigarettes the most expensive in the world. Excise taxes account for more than 70% of that price, and the cost of legally purchased tobacco has roughly tripled since the end of 2016. Meanwhile, contraband cigarettes can be bought for around one-fifth of the legal price.
Charts: Financial TimesNot surprisingly, smokers have migr...
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