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The S&P/ASX 200 closed 37.4 points lower, down 0.49%.
At 7,628.2, the S&P/ASX 200 (XJO) concluded 37.4 points lower than its session high and 0.35% below its low. Advancers trailed decliners in the S&P/ASX 300 (XKO), a more inclusive index, by 104 to 174 points. [Read more]
💡Here are a few headlines from this morning:
Israel-Palestine Conflict Reverberates in Australian Politics. A Labour senator resigned from two parliamentary foreign affairs committees after accusing Israel of committing genocide against the Palestinian people.
Health Department Declares State of Emergency in SA Hospitals. Due to COVID-19 widespread staff illness, the health department boss declared a system-wide internal emergency in South Australian public hospitals.
Coalition Outraged at Hong Kong Democracy Defenders' Guilty Verdicts. The guilty verdicts against Hong Kong's democracy defenders today horrify the Coalition. The harsh national security laws in Hong Kong have resulted in convictions for many, including Australian Gordon Ng.
🗳️ HEADSTART
Australia Skips U.N. Tribute to Former Iranian President Raisi
Later today, the 193-member U.N. General Assembly convenes for a tribute to honor the late former Iranian president, Ebrahim Raisi.
The Background
Ebrahim Raisi, a hardliner and potential successor to Supreme Leader Ayatollah Ali Khamenei, died when his helicopter crashed in bad weather in mountains near Azerbaijan on May 19.
Australia Government
Australian officials will stay away when the UN general assembly holds a tribute to the late former Iranian president, Ebrahim Raisi, later today.
The Opposition
According to Senator Claire Chandler, the Australian Government has a moral obligation to abstain from today's repulsive UN General Assembly memorial service for the man who many Iranians refer to as the "Butcher of Tehran."
Why is this important?
This decision sends a clear message to the international community about Australia's values and principles and reflects the country's position on violations of human rights. It also draws attention to the difficult balancing act that diplomatic relations must play between nations with disparate philosophies and customs.
Our Take:
Australia's decision to abstain from the memorial service showcases its commitment to standing against human rights violations, even in the face of diplomatic pressures. It underscores the importance of holding leaders accountable for their actions and upholding universal values of justice and dignity.
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🔥 HOT COPY
Australian MPs Advocate for Human Rights Law Amid Liberal Democracies
A major advancement in the defence and advancement of rights for all Australians has been signalling by the recommendation of the Parliamentary Joint Committee on Human Rights to establish a Human Rights Act.
The Background
The committee reviewed the current safeguards for human rights, evaluated the effectiveness of the current framework, and investigated potential ways to improve rights and freedoms after a thorough investigation into Australia's human rights framework was started by the Attorney General in March of last year.
Key Findings and Recommendations:
Human Rights Act: An overwhelming 87% of submissions support the report's recommendation to enact an Australian Human Rights Act.
Policy Integration: Integrating human rights considerations into policymaking and the operations of the Australian Public Service.
Monitoring Progress: Ensuring consistent and transparent monitoring of Australia’s adherence to human rights obligations.
Education Commitment: Emphasizing ongoing human rights education to foster a culture of respect and understanding.
Josh Burns MP, Chair of the Committee :
“At the core of every decision our government and future governments make must be the promotion and protection of rights for every Australian and those in our care. A Human Rights Act will ensure that.”
“I am proud of this report because the way we ensure a fairer and more equitable Australia, far beyond my time in politics, is by enshrining Human Rights protections into law.”
“Human Rights are more than a talking point. They encompass the right for every Australian to have a safe and secure home, an adequate standard of living, a healthy environment, and the freedom to be who they are – regardless of race, religion, sexuality, gender, or ethnicity.”
“Australia remains one of the few liberal democracies without a Bill of Rights or a Human Rights Act. It’s time we start the conversation about what needs to be done so we can get there.”
“This is a piece of work I started with my dear friend and colleague, the late Peta Murphy MP. She was a passionate advocate of the need for an Australian Human Rights Act, and I hope she would be proud of this report.”
Why does this matter?
This matters because the absence of a Bill of Rights or Human Rights Act in Australia leaves individuals vulnerable to potential human rights violations without adequate legal protections.The government and society must prioritizee the discussion and implementation of these protections to ensure the fundamental rights of all individuals are upheld.
Our Take:
Australia must address these gaps in legal protections to prevent discrimination and ensure equal treatment for all individuals. By enacting comprehensive human rights legislation, the government can demonstrate its commitment to upholding the rights and dignity of every person within its borders.
🛒 MARKET EDGE
Australian Beef Exporters are back in Business in China
Agriculture Minister Murray Watt said Beijing lifted the suspensions on [specific date], allowing five major Australian beef exporters to resume Chinese exports.
Senator Watt told ABC News Breakfast: “Five Australian beef processing sheds or operations are banned. Five processing operations were removed from trade bans after two. This benefits cattle farmers, meat processors, and their workers.”
The Background
Queensland and NSW are home to the meatworks. Before the 2020 trade war lockout, Australia traded $1 billion in beef. Australian agriculture exports over 70% of its production, and China is a key trading partner.
National Farmers Federation
The NFF President, David Jochinke, welcomed the reinstatement of export approvals for five Australian meat processing facilities into China today.
This reinstatement is another important step towards improving our trading relationship with China, one of Australia's major partners.
This follows March's welcome wine import restriction lift.
"We thank Ministers Don Farrell, Penny Wong, and Murray Watt for their tireless work to resolve these suspensions. " Jochinke said.
Why does this matter?
This matters because China is a significant market for Australian meat and wine exports, and the reinstatement of export approvals will help support the economy and agricultural industry. It also demonstrates progress in resolving trade disputes and strengthening diplomatic relations with China.
Our Take:
Australia must maintain strong trade relationships with key markets like China while also diversifying to support economic growth and stability. The efforts of individuals like Farrell, Wong, and Watt are instrumental in ensuring the resolution of trade issues for the benefit of Australian industries.
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🌎 World Tonight
🇭🇰 Hongkong .A court convicted 14 pro-democracy activists in Hong Kong's biggest national security case on Thursday, saying their unofficial primary election plan would have undermined the government's authority and created a constitutional crisis.
🇪🇸 Spain. The Spanish parliament passed a controversial amnesty law that pardons hundreds of Catalan independence supporters.
🇺🇸 United States . Donald Trump's hush money trial jurors return for a second day of deliberations on Thursday, scrutinising two high-profile witnesses as they decide the fate of the first U.S. president criminally charged.
🇮🇷 Iran. The June 28 presidential election to replace Ebrahim Raisi, who was killed in a helicopter crash earlier this month with seven others, began a five-day registration period Thursday in Iran.
🇺🇦 Ukraine. US President Joe Biden is under pressure to let Ukraine attack Russia with West-supplied weapons.
🏅VIEWPOINT 360
AI can be a tool to help the oppressed
By Shafiullah Anis and Juliana French, Monash University Malaysia in Kuala Lumpur
The debate on AI ignores marginalised communities who stand to benefit most. Instead, AI can empower them, fight injustice, and level the playing field.
The debate around AI's impact often resembles a dystopian movie — job losses, privacy invasions, and superintelligent machines taking over. But amid these anxieties, a crucial voice is missing: that of marginalised communities.
These communities, facing systemic oppression and limited access to resources, are rarely part of the conversation. They are the ones who would stand to benefit most from responsible AI development. [Read more]
📰 Good News, Inspiring, Positive Stories
Australia's Leadership in Tobacco Control Lauded by WHO
On the eve of World No Tobacco Day on 31 May, WHO Regional Director Saia Ma'u Piukala said “Australia's leadership in tobacco control is both commendable and inspiring”.
At the World Health Assembly in Geneva, Mark Butler, Minister for Health and Aged Care, hosted high-level talks on e-cigarettes and vaping.
The landmark meeting was held before World No Tobacco Day, which this year focuses on protecting children from tobacco industry interference.
The meeting featured a new WHO report, ‘Hooking the Next Generation: how the tobacco industry captures young customers’, which called for Member States to act quickly on e-cigarettes.
Minister Butler chaired a roundtable discussion with other Health Ministers and senior foreign health officials to discuss countries' mutual challenges and successes in combating vaping harms and strengthen the global response.
Governments are following Australia in banning or restricting
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