Top News Of The Day:
• Beginning with some news from the Australian federal budget..
• In the Opposition Leader’s reply to the budget delivered on Tuesday evening, Anthony Albanese the head of the Australian Labor Party has criticized the Co-alition’s budget as being low in growth, wage conscious and productivity focused.
• Next up, we have an update from the quarantine system in Australia. As Australia’s Prime Minister Scott Morrison has announced that repatriation flights for up to 900 vulnerable Australian’s in India and the further close to 10000 who are stranded there will be arriving back on Australian shores starting 15th May, a quarantine system in the Northern Territory will be put to affective use.
• South Korea has plans to spend approximately $450 billion over the next ten years, in the manufacturing chips at the world’s biggest base. This sees the country join China and the US in the aim to limit global shortages of the key technology. South Korean President Moon Jae-in’s administration was briefed on Thursday from executives at Samsung, an advanced chip factory in Seoul.
• With the partial re-opening of the Colonial Pipeline yesterday, since it’s total shutdown by cyber criminals this week. A ransom of nearly $5 million has been paid to the cyber actors identified as an Eastern European group - Darkside. In earlier reports Colonial Pipeline Co, a privately owned business valued at approximately $8 billion had no intentions of paying the ransom but since the pipeline transfers oil to many major airports in the US .