Oan News (Open to Syndication)

[The_Oan_Isles]

OAN NEWS

OAN ISLES STRIVES TO ATTRACT FOREIGN TECH BUSINESSES

The High Tech and Innovation Promotion Law was passed by the National Assembly and received royal assent a few hours after. The law will allow the Oan government to offer tax breaks, labour and environmental regulatory exemptions and other benefits to foreign businesses in the high tech sector. This includes sectors such as information and communication technology, biotechnology, and so on.
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The government will be able to dedicate revenue to invest in infrastructure in special parts of the country to encourage the coalescing of tech companies in the country. It also gives the government to power to increase resources dedicated to and simplify the patent processing and protection systems, and other bureaucratic structures. The Special High Tech Panel will be responsible for advising, researching and monitoring high-tech in the country. The governments aims to lobby companies such as Cluster, Damehowe, Audelli, and so on, establish regional headquarters, laboratories and hubs that will make the Oan Isles the tech capital of the world. This process will form part of the Fou Year Infrastructure Development Initiative that will link the Oan Isles to MWPT via pipelines, roads, hydropower stations etc.

[The_Oan_Isles]

OAN NEWS

METATRON ANNOUNCES NEW PRODUCTS!
Metatron announced three new products that will hit stores in the month of may: the Stargazer and Airtouch.

• The Stargazer is spectacles/sun-glasses with augmented reality capability. The Stargazer connects to a device such as a laptop or cellphone, projecting virtual constructs broadcast by that device onto the real world.

• The Airtouch is an infrared keyboard. This device displays a size-adjustable keyboard on any surface regardless of orientation that is relatively smooth. The keyboard is available in different languages, font types and scripts. It can connect to any device.

The products mark the second major shift for the company after releasing the Aroha virtual assistant speaker. Metatron is gradually moving away from saturated consumer electronics such as smartphones, and these latest releases signify its evolution to high-end electronic products.

Both product will be available at all stores and online shopping platforms.

[The_Oan_Isles]

OAN NEWS

INCLUSION FOR AURORAN MIGRANTS

Following a vote by the National Assembly, the Emperor has signed the Recognised National Language Law. This legislation will make Salovian, Ethalrian and Staynish nationally recognised languages of the Oan Isles. This will give speakers of these languages access to additional government services and support. The move was supported by Pan-Auroran activists and legislators who believed that the silent discrimination and exclusion of immigrants from mainland Aurora should end.

The Oan Isles is generally known as a friendly welcoming place for tourists and expatriates, but refugees and low-income economic migrants from former Salovian and Ethalrian countries in Aurora struggle to integrate into society due to animosity and misunderstanding by the broader Oan public against them. Moreover, some proponents argue that making the Oan Isles more welcoming for mainland Aurorans will attract wealthy and skilled migrants to live in our country as well. Furthermore, proponents are hoping that the move with thaw the difficult and distrustful relations between the Oan Isles and the Ethalrian countries to open new opportunities for dialogue and cooperation.

TOKAPA IN TROUBLE FOR ANIMAL RIGHTS VIOLATION

The local government of the capital city Tokapa has been discovered to be culling sea birds such as seagulls around Tokapa.

Activists from the Oan Society for the Prevention of Cruelty to Animals found that sea gull populations were dropping drastically over the past 10 years and that sea gulls were mysteriously disappearing from areas of major concentrations of people (where these birds would usually be).

The Oan SPCA released a damning report stating that the Tokapa local government had killed thousands of adult seagulls and smashes their eggs. Seagull bodies had been incinerated at landfill sites and public furnaces.

The Tokapa government defended its decision stating that the seagull population was out of control, that seagulls were attacking people and pets, ripping up trash, and their guano was damaging private property. It also stated that that it tried to control the numbers in the most humane way possible (without stating what that way is).

[The_Oan_Isles]

OAN NEWS

WHY DID THE OAN ISLES INVEST 20 BILLION KRB IN MWPT?
HOW DINOSAUR JUICE IS GETTING US IN TROUBLE
By Imani Lucim
The views expressed in this article are those of the author and not of Oan News nor of the government of the Oan Isles
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Firstly, because the discovery of oil suddenly meant that the Oan Isles had way more money that before. But the second and most important reason is that the Oan Isles has a crisis on the horizon.
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It all started when the Oan Isles annexed the Kohatu Isles. Oil was discovered off the coast. The Oan Isles had the technical expertise, and money to invest in exploration and extraction. Moreover, by making Royal Caven Petroleum from Peregrinia its main partner, it leveraged the existing economies of scale that Royal Caven had. These things allowed the Oan Isles to benefit a lot more quickly from the oil trade than other countries would have.
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Secondly, the total cost of running the Kohatu Isles is much lower for the Oan Isles than to the income it makes from oil. Thus, the country has been awash with money from selling oil to foreigners. The new jobs which were created quickly made the average Oan person wealthier as businesses reduced oil-related costs like polymer inputs, petrochemicals and fuel for industrial processes. And more profits resulted in higher wages for the average worker.
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So the Oan economy got a new injection of money in a very short period of time. Which is usually a good thing. But not in this case. As Oans had more money, they could spend more on goods and services and on investments with most people putting their money in houses and other property. The Oan government is scared that 2 major problems will emerge: hyperinflation and a housing crisis.
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When the demand for housing increases, the price for houses increases which increases people’s net worth. Which is great. However, this is only because of speculative investment rather increase in economic production. The Oan government calculated that at some point in the future, economic growth will slow down but the rate of increase in property prices will outpace income growth. Moreover, industries which benefited from oil may decline so some people may lose their jobs. So, the government is scared that there will be a lot of people in the future who won’t be able to afford all the houses bought up by people today.
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Why can’t they just build more? If you know anything about the Oan Isles is that there isn’t a lot of space. The government calculates that the country can only support a certain amount of people before mass deforestation takes place and only a few more before we run out of liveable space altogether.
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Also, The Oan government doesn’t really want housing prices to go down too much. High housing prices mean that the average home owner gets wealthier doing nothing. This is important in making Oans among the wealthiest citizens on an average net asset value basis. This further disincentivises the government to release more land for construction.
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The issue of hyperinflation is this: if people are spending more on daily commodities, prices will go up. And it’s much easier for prices to go up than come down. When the housing crisis happens, the inflation crisis will happen too. This will make life in the Oan Isles much more expensive to live in than it is now. Furthermore, by that time, Oans would have gotten used to a really good standard of living from foreign imports, so some industries will struggle against these imports and shut down long before the Great Housing and Inflation Crisis hits.
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Thus, the solution is take all that excess money and put it somewhere safe in a way that will make money for the Oan Isles in the long term. Thus, the Oan Isles is going on an investing spree. To both “save” the money, while “spending” it somewhere else.
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Why choose MWPT? MWPT is really close and similar to the Oan Isles (and they low-key want it back). Moreover, MWPT enables the government to create jobs for Oans in another country, which will incentivise them to move and spend some of their money buying houses there. Hence, the Oan government is investing in infrastructure. This includes housing developments. Won’t it lose all those productive people to MWPT and even Great Morstaybishlia? No. (a) Because MWPT is right next door so, people will often visit and send money to relatives and (b) the Oan Isles just pays better on average.
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On one hand the government keeps its citizens comfortable and wealthy and on the other it sheds the excess population and generates investment income from all the rent and economic activity that infrastructure usually brings. And it basically stores that money in assets like infrastructure which aren’t easily convertible into cash so there won’t be a whole of cash in that economy so there won’t be a quick increase inflation back home.
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They also didn’t want people getting used to oil and all the (virtually free) stuff it got them, so this way they avoid a social crisis as well once the dinosaur juice runs dry.
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Although 20 billion kiribs sounds like a lot of money, which it is, I wonder whether it’s all that much. Out of a GDP of approximately 788 billion KRB, 5 billion a year over 4 years, will be spent by the Oan Isles, with the government only paying roughly 2 billion KRB. I wonder: is it enough? Luckily for the Oan Isles we will be tapping the dinosaur juice faucet for a very long time

[The_Oan_Isles]

OAN NEWS
HOW DID OANS BECOME SOME OF THE WEALTHIEST CITIZENS IN THE WORLD
Imani Lucim
The views expressed in this article are those of the author and not of Oan News nor the government of the Oan Isles
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By stealing oil from the Kohatu Isles. Through 2 things: retirement annuities and property.
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The Oan Isles does not have the highest GDP per capita in the world. And it’s only the 4th highest in the UNAC. But the wealth we are referring to is not GDP per capita. GDP per capita is measure of the total goods and services produced per person, which indirectly measures the resources enjoyed and productivity produced by people of a nation. Wealth on the other hand refers to the value of assets that people own.
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In the Oan Isles, the government passed the Compulsory Retirement Savings Law which made it compulsory for every citizen in the country to put away a little bit of their money every month into a government-approved retirement fund. These funds invested the money into the economy. Coupled with the tax cuts that retirement investment funds received, these funds have accumulated incredible wealth. However, Oans can only access that money when they retire around the age of 65. So, per capita, Oans have vast amounts of wealth (it’s just sitting in retirement funds). Other countries have tried similar schemes to varying levels of success, but the Oan Isles is unique in that the contribution is lifelong, starts as soon as someone is working, continues throughout their life even if they change or lose jobs, and cannot be withdrawn for any reason at any point in their life.
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The Oan Isles is also a small island nation with a lot of mountains and forests, so there isn’t a lot of habitable space. When you remove industrial and agricultural land, a tiny fraction of our already small territory is dedicated to houses for people to live in. When the supply of houses is relatively constrained and the demand is high prices are naturally going to go up. Thus, a basic commodity like shelter suddenly becomes a store of value, bringing wealth to the owner.
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The government recognized this and decided to help as many of its people become home owners. They could increased the supply through reclamation which would make housing more easily available to lower and middle income people. They did do this. But it wasn’t the only thing. Increasing supply too much can bring the price too low. And the great thing about property is that even in an economic slowdown, the decline in the value of housing is much lower than the decline in the buying power of cash, so it’s a much safer way to spend money than on commodities or speculative investments (which have their place).
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Instead, the Oan government passed the Promotion of Homeownership Law. This law allowed banks to issue loans for longer periods, so that people spent less of their monthly salary paying their mortgage. This made housing within reach of most people. Secondly, the Oan government gave people who couldn’t afford the down payment an interest free loan to cover that amount. The loan is payed back very slowly and in tiny increments. Moreover, the oil boom (discussed in the previous article) made Oans have more money to buy houses.
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A happy side effect of adopting the Kirib as our currency is that the value of assets in the Oan Isles increased by a massive amount because the previous Oan currency - the Oan dollar - was greatly undervalued.
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As a result prices for housing remained high while being in reach of most Adults. Hence, the Oan Isles has a home ownership rate of 98%. The chances of a freshly graduated Oan getting a house within 5 years of working is insanely high because of this. So that’s why Oans have a mean wealth of 500,000 KRB and a median wealth of 200,000 KRB. Thus, they are among the wealthiest citizens in the world.

[The_Oan_Isles]

OAN NEWS

CURRENCY WARS

Governor of the Bank of the Oan Isles, Pauro Toangakau, has announced that he will ask the Auroran Central Bank to issue a formal complaint against Packilvania for artificially under valuing its currency, the Packilvanian dinar. He has also proposed that the ACB should explore using monetary policy to strong-arm the PCB into revaluing its currency at market-appropriate rates.

The Packilvanian Central Bank has often adopted an unfair currency exchange regime that has undermined industries in smaller countries through an increase in the influx of cheap low-quality low-value added imports from Packilvania.

The PCB has undermined competitive trade by unfairly leveraging the enormous size of its economy and focus on low-cost goods to undervalue the Packilvanian dinar. This is particularly harmful as many nations maintain trade deficits with Packilvania which is notorious for imposing unfair import tariffs to stifle the import of goods. Furthermore, Packilvania continues to place unfair restrictions on foreign companies wishing to set up shop on Packilvanian soil.

This unfair and uncompetitive behavior results in a dead-weight loss for society that cannot be tolerated.

[The_Oan_Isles]

OAN NEWS

COMPLAINT REQUEST AGAINST PACKILVANIA SUBMITTED TO THE ACB
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Governor of the Bank of the Oan Isles, Pauro Toangakau has announced that the Bank submitted a request to the Auroran Central Bank in Tarov, Tivot to submit a formal complaint of currency manipulation to the Packilvanian Centrall Bank in Bingol, Packilvania. 
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How do you know if a country’s currency is undervalued? Well a currency is not just a medium of exchange, but it is a store of value. This means that even if two currencies can be exchanged for a certain nominal amount, the real price lies in the value of goods and services that equivalent units of the two currencies can afford. The former is the nominal exchange rate while the latter is the real exchange rate.
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When a country exports goods, other countries have to pay it in its own currency. If you want to buy something from Packilvania, you must sell your kiribs to the Packilvanian Currency Exchange Bureau for a certain auction price. Because Packilvanian dinars are worth approximately 100 dinars per kirib, this makes you feel like your kirib is worth a lot more than the dinar. But, because Packilvania is an export-driven nation, it makes a large profit from selling goods and services to foreign nations. Thus, other nations usually make a loss. This means they have to borrow money to pay back Packilvania. Moreover, borrowing dinars from the PCB is much more expensive than buying them. Therefore, because lots of people are demanding dinars to pay debts to and buy goods from Packilvania, the price of a dinar should go up. 
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However, whenever the price goes up, the PCEB makes more dinars available so that it looks like the supply of dinars has increased to meet the increased demand, keeping the price at or below the usual amount. This makes you want to buy more goods and services from Packilvania because the price seems so low. But the net cost to your economy through the loss of industries that struggled to compete with the superficially low prices of Packilvanian goods as well a the debt used to afford these imports means that your country loses from this whole situation.
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This is the reason that the Oan central bank is unhappy about what Packilvania is doing. But in truth, is it really unfair? Packilvania has the right to control its currency just like any other currency and if they happen to benefit form their economy’s huge size, that’s capitalism for you. The issue is that when the PCB borrows kiribs, they basically make a profit because the Kiribzone pays them a higher rate of interest than it charges. This is the case with all developed countries because developed countries can’t afford high interest rates. So, the Kiribzone feels like the PCB is taking advantage of this whole situation. It’s like a cycle that never ends and is bad for the kiribzone. Some people think this whole debacle is exaggerated, because at the end of the day, people in the kiribzone live much better lives than people in Packilvania so it doesn’t matter how much the kirib or dinar are really worth.

URTHQUAKE IN AXDEL
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An urthquake hit the Quartz Fern Coast city of Calcite in the Republic of Axdel. The urthquake measure 6.27 on the International Seismic Scale. 
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No major damage to property or injury and deaths were report due to the robust infrastructure. 
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Axdelian authorities originally issued a tsunami warning, but later withdrew it. 
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The Oan Departments of the Environment and of the Interior have offered support as the Oan Isles often has urthquakes and ahs become adept at dealing with them.

[The_Oan_Isles]

THE OAN ISLES CONDEMNS THE ATTACK ON ASILICA AND CALLS FOR UNAC INTERVENTION
The Oan Isles hereby formally condemns the terrorist attack which has resulted in the destruction of the government ofAsilica. This incredible attack is reprehensible and unconscionable The use of violence to achieve political ends is unforgivable. The Oan Isles will send humanitarian aid through Oan Aid to help people there. Furthermore, we will ask the UNAC to deploy the Strategic Defence Force to root out and arrest the attackers, restore order and re-establish the normal functioning of government and civil society.

We send our condolences to the families of those who have lost loved ones in this attack. We stand with the people of Asilica. May their enemies fear, for the might of the UNAC will defend the people of Asilica.

In solidarity, 
Maui Uye-Ahua,
Prime Minister of the Oan Isles

[The_Oan_Isles]

OAN NEWS
WHAT ARE THE IMPLICATIONS OF SOUTH STAYNISH INDEPENDENCE FOR THE OAN ISLES
The United Kingdom of Great Morstaybishlia and Justelvard is the foremost political, economic and strategic ally of the Oan Isles. One would rationally assume that the weakening of that ally would weaken the Oan Isles. Ironically, not necessarily.
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South Staynes is a highly developed, economically diverse and socially progressive nation that has potential to be influential on the world stage. It is already the site of major bilateral investment. For instance, the Auroran hub of Metatron’s manufacturing is located in South Staynes. Furthermore, there is considerable trade in finished goods, produce and natural resources between our two nations. The Oan Isles and South Staynes share ties through a common religion and large presence of expatriate communities.
Furthermore, it is highly likely that many of the treaties between the Oan Isles and South Staynes through the United Kingdom would be duplicated. Moreover, it is likely that South Staynes would continue to participate in bodies such as the UNAC, Auroran Monetary Fund and Kiribzone. Thus, there is bound to be continuity in economics and political life despite the disturbance of its independence.
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Could South Staynes threaten Pan-Auroran political ideology and the integration of the continent? Yes and no. Yes in that it would exacerbate existing challenges by allowing isolationists and protectionist aligned with the independence movement à greater voice in public life. However, the threats to Pan Auroran thought already exist such as Pan Ethalrian nationalism.

[The_Oan_Isles]

OAN NEWS
TERRORIST ATTACK ON MALACHITE PALACE, KOHATU ISLES
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Today, there was a terrorist attack on Malachite Palace during its opening ceremony.
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A white vehicle, believed to be a lorry, rammed into the stage. In attendance were senior government officials such as His Serene Majesty, the Emperor of Polynesia, Oahoanu, Her Royal Highness, Serene Consort Aroha, Arana Marama, Minister of Foreign Affairs, Opal Lazuli, first minister of the Kohatu Isles, and Sardonyx Tupuni, Kohatu Minister of Internal Affairs. 
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Luckily, state protection units caught wind of the attack mere minutes before the vehicle struck. Acting quickly, authorities evacuated the crowd and public in time to prevent any major loss of life. Unfortunately, one person has been injured and is currently undergoing emergency treatment. Further, there are 8 people missing, including Sardonyx Tupuni. The vehicle was filled with explosives which denoted at the steps of the building, resulting in severe damage to the central atrium.
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Fire fighters are currently attempting to put out the fires and searching for the missing 8 individuals reported missing. The nation is currently in shock. So far, no organisation has claimed responsibility or been linked to the attack. A statement was released by the Office of the First Minister of the Kohatu Isles indicating that the Emperor, royal family and other government officials are safe. Furthermore, the First Minister urges the public to remain calm, to cooperate with law enforcement and to stay away from Malachite Palace and surrounding areas until the investigative team has completed its work. She wished a speedy recovery to the injured person and urged families of the missing 8 to be patient. 
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Authorities have declined to comment and have stated that they will contact the media as soon as they have more concrete facts to share with the public. We urge members of the public not to share fake news and to come forward with any intelligence that can help authorities.

[The_Oan_Isles]

OAN NEWS
KOHATUAN MINISTER ARRESTED IN CONNECTION WITH TERRORIST ATTACK
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Kohatuan Minister of Internal Affairs, Sardonyx Tupuni (who was originally reported missing) was arrested at Kohatu International Airport. 
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Minister Tupuni had allegedly excused himself from the opening ceremony of the Malachite Palace to use the bathroom, but was found at Kohatu International Airport attempting to board a private jet scheduled for take off that day. Customs Service Officials at the airport alerted the Oan Intelligence Bureau which ordered his immediate arrest. Because the incident involved a state official heading out of the country, the matter feel within the jurisdiction of the OIB. Usually the OIB only focuses on foreign intelligence operations thus speculation is rife that there may have been foreign involvement in the attack. 
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It is unclear whether Minister Tupuni was directly involved, associated with or had pre-knowledge of the events. Law enforcement officials have not announced why he was arrested or whether he will be charged with a crime. Due to the 48-hour extraordinary warrant, law enforcement and intelligence have wide powers to arrest any person and seize any documents and assets believed to be connected to the attack on Malachite Palace and the attempted assassination of our sovereign. We urge the public not to spread propaganda and disinformation surrounding these events. We will bring them to you as soon as they are made available by authorities.

[The_Oan_Isles]

OFFICIAL STATEMENT OF THE EMPEROR OF POLYNESIA

Our subjects, People of the Greater Oan Isles,
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We condemn the attack on Malachite Palace and the attempt on Our life and the lives of Our subjects and ministers. In defiance of the enemies of this nation, We are alive and well. We are fully confident that Our authorities shall apprehend the perpetrators of this attack. We call for calm and ask Our people to express the same confidence. We shall overcome. The enemies of the people of the Greater Oan Isles shall not prevail.

Your Emperor,

[The_Oan_Isles]

OAN NEWS
SERENE CONSORT, CROWN PRINCE HEAD TO GREAT MORSTAYBISHLIA
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Serene Consort Aroha and Crown Prince Moana have arrived in Great Morstaybishlia, a source at the Serene Court confirmed. 
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Allegedly, the Serene Consort and Crown Prince are going to spend time with their relatives, the Constantines,  and pay their respect to the deceased Prince Thadeus, Duke of Jubliak. 
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The Serene Court did not respond to our request for comment. 
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Rumours are circulating that they are being taken to GM to keep them safe. The Emperor is still in the Oan Isles and continues to work from the Palace of Putangitangi. Earlier, he visited the injured victim from the Malchite Palace attack. He also released a statement on Friday urging citizens to cooperate with police and encouraging us to remain confident in authorities. 
SARDONYX TUPUNI RELEASED

Minister of Internal Affairs of the Kohatu Isles, Sardonyx Tupuni has been release by order of Crown Prosecutor, Lees Tohinga.
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Following the submission papers by the office of Kohatu Social Democratic Party Chief Whip, Jasper Ray, to the Mahakatepa High Court, the Prosecutor conceded that they did not have enough evidence to prosecute and thus had him released. 
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Minister Tupuni was not formally charged with anything and the police stated that he was being kept for questioning as part of an investigation into the Malachite Palace attack in line with the broad warrant given by the Supreme Court. 
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Jasper Ray penned a scathing open letter which was published by Axdel News services in which they criticised the Oan government as using Sardonyx as a scapegoat while also attempting to remove a political opponent.

[The_Oan_Isles]

OAN NEWS
3 September 2021

NO HELP FOR HAWA
Imani Lucim

Minister of Defence for the Oan Isles, General Oahuoa Uye has announced that the Oan Isles will not intervene in the Hawa Civil War. The reason is that the Oan Isles is already dealing with serious security concerns due to the recent attempted assassination of the Emperor of Polynesia and the attack on Malachite Palace in the Kohatu Isles. Thus, the nation cannot spare scarce resources for a conflict thousands of miles away. However, the government has joined the chorus of the inept international community in condemning the Kemto and calling for peace.

Hawa is a small developing country in Gondwana. Its population consists of the majority Kemto ethnic group and the minority Rufi ethnic group. The country is currently in the midst of a Civil War fought along ethnic lines. The violence and displacement perpetrated against the Rufi by the Kemto has been described as genocide. Nacata as a nearby nation cultivated strong ties with Hawa and in part has vested interests in that nation. Coupled with its democratic system and values, it was expected to provide assistance to the people of Hawa.

Furthermore, Nacata as part of the Kuthern Commonwealth, is a means through which Kuthernburg projects strategic, economic and political power in Gondwana. Thus, the failures and successes of Nacata reflect poorly on Kuthernburg and threaten the stability of the Commonwealth. Nacata has failed to contain the situation on its own, resulting in direct involvement from Kuthernburg.

Things took a turn for the worst when Kuthern peacekeepers deployed to Hawa were killed by Kemto soldiers. The incident caused an uproar in Kuthernburg. Due to the severity of the situation, Kuthernburg has attempted to get the Peacekeeping Forces Of Urth to intervene. Negotiations for a coordinated strategy are underway, but members seem reluctant to intervene.

Some members states especially those with vested interests or established relations have taken unilateral action in the conflict. The Kingdom of Tretrid sent soldiers to help the Rufi due to their common enmity for the Kemto. Unfortunately relations between the Rufi and Tretrid have not been inspiring. There are doubts as to the effectiveness of their cooperation.

In a surprising turn of events, Iboma has approached Kuthernburg to coordinate a response. Apparently reviled by the extent of the violence, Iboma is in discussions with Kuthernburg about a negotiated settlement with the Kemto. Talks are ongoing and we await the outcome.

The Civil war has ramifications far beyond the borders of Hawa. On one hand it tests the relationship between Kuthernburg and Nacata and the former’s control over the latter. It also tests Kuthernburg’s ability to project power outside of Novaris.

[The_Oan_Isles]

OAN NEWS
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OAN-SALOVIAN POLITICIAN ELECTED LEADER OF AURORAN PARTY UNCONTESTED

Astrana Tohinga-Vidalovich a politician from the Oan Isles of both Oan and Salovian (specifically Kostrom) ancestral heritage has been elected as the President of the Auroran Socialist Democratic Party. Ms Tohinga-Vidalovich is a member of the Auroran Parliament and she has served in multiple committees in that body. She previously served as a member of the Council of the People of the Oan Isles before the Pacifist Party put her forward as a candidate in the Auroran Parliament elections as a member of that body.

She is a qualified pharmacist with experience in pharmacological research. She possesses a wealth of professional and political experience that makes her suitable for the job. Furthermore, her multi ethnic heritage bridges gaps between cultures and nations. Her political positions include support for closer Auroran integration and storing social support for vulnerable groups.

[The_Oan_Isles]

OAN NEWS
BLUEACIAN PARLIAMENT PUSHES FOR UNAC REFORMS
Yesterday, Minke Dantuma. Member of the Blueacian Parliament for GrienLinks (which translates to Green Left in Staynish), proposed that the Parliament of Blueacia pass a motion forcing Prime Minister of Blueacia Pearson Lagonus to present a proposal to the member states of the United Nations of the Auroran Continent (UNAC) that would alter the composition of the Auroran Parliament (AP) in favour of smaller member states.

The proposal has faced criticism from a variety of social forces. The first criticism is that the Council of the UNAC provides equal representation for all member states. Furthermore, because the Council of the UNAC is vastly more powerful than the AP, it gives smaller states disproportionate influence over the UNAC.

Secondly, a change to the composition of the AP requires the passage of the treaty to amend the Charter of the UNAC (also known as the Treaty of Aura). This requires the unanimous consent of all member states. It is unlikely that larger states like Great Morstaybishlia or Axdel will agree to this proposal because it diminishes their power and influence in the organization. Thirdly it leaves much larger proportion of people in those countries without representation.

Furthermore, this proposal is unlikely to gain much traction. It is unlikely that a small country like Blueacia could offer larger nations anything that would tempt them to disenfranchise large amounts of their people from the AP. It is likely that this is a negotiating tactic to provide smaller states with more influence. As it stands, the proposal suggests that GM as the largest member state is capped at 33% of the seats and all states being guaranteed 6 seats.

[The_Oan_Isles]

OAN NEWS

The Tivot Sandwich: Why Investors Love Eating in Tarov
By Imani Lucim

The Republic of Tivot is a democratic country located in Aurora on the Horn of Caltharus that seceded from Salovia after the Auroran Imperial War. It is an upper income developed economy with a GDP of 602 billion KRB and a per capita GDP of above 32000 KRB. This small country has gained a reputation as an international hub for trade, commerce and finance with the Port of Tarov being one of the most important transshipment hubs in the world.

Tivot cultivated a robust and thriving financial services sector through its immovable political stability, low taxes for foreign companies, secretive banking legislation and investor friendly policies. This led to it attracting companies from around the world to set up shop hear. Most notably it houses the holding companies for corporations such as Café Pay and the Metatron Corporation as well as the headquarters of the Auroran Central Bank (the central bank of the Kirib Monetary Union encompassing about 20 member states). The highly sophisticated Tivot Stock Exchange lists some of the largest companies in the world.

One of the most attractive features that Tivot has is the Tivot Sandwich. The Tivot Sandwich is a term used in the accounting and financing disciplines to describe the legal framework in Tivot that enables companies that set up offices there to avoid being taxed in their home countries and the countries in which they do business. A company can set up a holding company in Tivot as a 100% shareholder. The holding company can make a loan to its child company that has interest and capital expense payments equal to or greater than its profit. This creates the legal impression that the company is running at a loss or breaking even, removing the possibility for the home government to tax it. The interest expense payments from the child company appear as income in the holding company income statement. This is the first half of the proverbial Tivot Sandwich.

The second half of the sandwich is that the child company can repay the holding company for the loan in intellectual property such as patents. These are valued according to projected royalties and income from their rent and use in the production of goods. By repaying the holding company in IP, the holding company assumes oweneeship of the IP and generates revenue from the royalties it receives as income from the child company and other companies that rent the IP. This makes the second half of the sandwich. Furthermore, the holding company can write off these IP repayments as bad debts if the projected royalties reach below a certain threshold. This expense lowers the taxable income of the holding company. Coupled with the fact that the United Nations of the Auroran Continent (of which Tivot is a member state) does not allow nations to be taxed twice, only the Tivot tax rate will actually apply. Given that Tivot’s corporate tax is next to nothing compared to other UNAC states, investors can make incredibly handsome profits from their ownership of these holding companies.

Some investors go further and have a triple layer sandwich whereby the holding companies own the physical assets used by the child company and loan them to the child company. The child company pays for the use of the physical assets. This also lowers its taxable income in the home state and takes advantage of the low tax rates in Tivot. Investors who really know their stuff will have a quadruple layer sandwich. This is when the holding company is owned by a trust or charitable organization. Rather than paying out dividends to natural persons, the holding company pays out to the trust. The trust then manages the assets for the welfare of the investor concerned. Trusts are exempt from a lot of taxes but there are strict rules about how the trust can spend this money. This means that the investor can place themselves as the trustee using the trust to live luxuriously.

There are some controversies about the Tivot Sandwich some of them justified and others not. For instance, there are legitimate reasons to avoid double taxation: it keeps a company that generates income in one country from being taxed in its home and operations state. This encourages multinational business and commerce especially because most commercial transactions are not carried out in the domicile nation. Secondly, the ownership structures of corporations exists as part of the fundamental character of corporations as juristic persons. As natural persons they can and should be able to legitimately own assets in other nations including other companies. Tivot’s low income has attracted businesses and raised employment in that nation.

Some of the criticisms are justified such as that sometimes rich people set up these structures and take advantage of the loopholes in tax legislation to become even more rich on the backs of their workers. Again this is a reasonable and valid argument. However, I would argue that people becoming rich does not inherently make a system bad or good as wealth and income differences are natural results of capitalist systems. A more interesting question is whether Corporations and the rich are contributing their fair share to the taxes of each nation.

Ankther question is whether the concentration of capital in holding companies leads to the inefficient allocation of capital. This is questionable and may be relevant in some cases. In some cases the money makes its way back to the financial system when it is reinvested or loaned out. Another question is whether income inequality breeds social instability. This is a relevant questions but what is more interesting is how relevant is this complaint given that most UNAC nations are highly developed and globally connected. It’s not a case of rich vs poor but super rich versus moderately rich. Another query is whether trusts are being exploited, but the truth is that trusts are useful in protecting the wealth of their beneficiaries which can include orphaned children and other worthy causes. In light of this, there is a lot of nuance to this discussion and it really depends on the situation.

[The_Oan_Isles]

OAN AND AURORAN CENTRAL BANK TUSSLE OVER CAFÉ PAY

The Auroran Central Bank and Oan Central Bank are in a fight about the status of Café Pay.

The Auroran Central Bank sent a complaint to the Oan Central Bank about Café Pay earlier today. They complained that Café Pay’s virtual cash service was undermining the stability of the Kirib and that the Oan Central Bank should either order the closure of the virtual cash service or order Café Pay to apply to be a bank.

Some background: the Café Pay Virtual Cash services allows users to load virtual cash (in any currency including the kirib) into a wallet on their phone using their bank card. They can pay other users from their phone. Whereas other Café Pay products facilitate transactions between users through banks, virtual cash does not go through banks.

According to the ACB’s logic, Café Pay is acting like a bank. It is holding deposits of users and paying them out on demand. Because Café Pay is not a bank, it is not forced to meet the fractional reserve requirements of banks.

Fractional reserve requirements ensure that the bank has a minimum amount of currency on hand at all times of people want to withdraw money.

Oan regulators feel that this classification is unnecessary. According to them, Café Pay is a technology company not a financial services company. According to them, Café Pay is not acting like a bank because a bank also loans out the deposits. Café Pay does not loan out the deposits of users. Furthermore, deposits in different currencies are not convertible into other currencies via the Café Pay Virtual Cash app. According to them, Café Pay is just doing the same thing that physical cash does using virtual mediums.

The fight between the banks is ongoing…

[The_Oan_Isles]

Baby Snatchers: A Story of the Oan Isles’ Darkest Secret
By Imani Lucim

Writing this story is not easy. I am trembling as my fingers hit the keys on my keyboard. My chest is full and my eyes are pregnant with tears. I am very proud of the life I built in this country and of the opportunities I got ever since I immigrated here many years ago. I feel as much Oan as someone who was born here or who is of native Oan descent. For that reason, the shame I feel is that much more searing.

I got an anonymous tip off last year in January about how there is an adoption agency in the Oan Isles that may be involved in the trafficking of children from poor countries on mainland Aurora like Volova, Nilovia and Thalria. Running with this story took editorial guts the likes of which I have never had. My editor and I sat around the table wondering what to do with the information that we had been given. We thought about alerting authorities, but there was so little evidence we did not want to raise a needless furor from a prank call. But the source was a trusted one, so we decided to look into it.

I travelled to Tauranga a te Toka. I expected to find a dingy dark establishment with a creepy person lurking behind a skull on a desk. Instead, they were all wearing fancy Oan clothes and smiled with perfect teeth. Their tattoos were so perfect, I could smell the cosmetic surgery bill lingering in the atmosphere. So, I was taken aback that there was a possibility that this place was hiding something nefarious. I pretended like I was looking to adopt a child. They ran me through the process and everything looked above board.

I started Goggling sources and I came up empty. So, I took a sabbatical in the later half of 1020 AU (2020 CE). I decided to travel to Volova. I arrived in Novugdidi and met a contact for adoption agencies at the Volovan government. I told them I want to adopt a child, but I am facing challenges in the Oan Isles. The man was suspicious but I stuck with my story for weeks and the man eventually came round. He showed me to an adoption agency in Novugdidi. They walked me through the process, but I was emphatic that the normal process would not work for me. The man charged me 20,000 KRB to “find me a baby” and forge the relevant documents. At this point we alerted the Oan embassy in Tuvaltastan (which also functioned as the embassy for Volova). The embassy alerted the Auroran Security Agency. They assisted me and gave me security and helped me conceal my identity. They also gave me a hidden mic that I took with me.

He took me to a small town in the middle of the Great Auroran Desert. In this small town, they led me to an old building where people in dark suits were standing around. A woman in dirty old clothes came through holding a small object wrapped in blankets. She was as white as milk with eyes as black coals. A stout friendly looking white woman presumably working for whoever this was, took the baby from this lady who I had not been allowed to speak to and handed it to me. I looked at this poor beautiful creature as white as snow. I looked at it and nearly said, “This child is much too light for me”, only to realise that I was a pale white woman originally from Salovia (and that’s on colourism I have to battle with, but that’s a story for another day).

Instead, I said the baby is adorable. They gave it back to its mother and told me that I have to pay an additional 50,000 KRB. I was at a cross-roads, but I decided to plough ahead, much to the irritation of the ASA handlers who didn’t want to put me in harms way, but I was in too thick and too dead-set on figuring out the truth. I then decided to follow through. Yesterday, as I was writing about the tussle between the Oan and Auroran Central Bank, and they gave a call on an unknown number. I was told to meet someone at a cafe opposite the street where the Oan adoption agency was located. I alerted my ASA handlers who alerted alerted Oan police who followed me and miced me. I recognised the man I met as being from that agency. I recoiled in shock, but kept my cool. His smile was as white as snow, hair sleek, arms burly and clothes dripping. And yet the putrid smell of child trafficking stuck on him like the fumes of a landmine.

He handed me the documents and told me to fetch the baby from an upmarket hotel in Tokapa. I met another one of those fancy men from the Oan adoption agency. They handed me the baby as ordered. Oan police captured the men as they were leaving and raided the Oan adoption agency’s offices at midnight capturing documents and they are making arrests as you are reading this. I will be writing more about this and analysing what this means. But I am exhausted and disgusted, more information will come through.

[The_Oan_Isles]

Freedom International condemns the sale of “only source of food for Nekomimis” in Nystatiszna

Freedom International vehemently condemns the sale of the Two Penguin Seafood company in Nystatiszna to Kæra’zna. The government of Nystatiszna provides canned fish as food aid to the highly impoverished Nekomimi of Nystatiszna. The sale of the seafood company will make it impossible for Nekomimi to get access to their primary source of food aid. Freedom International calls upon the international community to impose financial and travel sanctions on President Ayo Hoshi and other senior government officials of that country until a solution is found. We also call on the international community to provide the Nekomimi with food aid to alleviate the horrendous food situation that they are subjected to. This deprivation of food of a marginalized and stigmatized social group coupled with the historic discrimination they have experienced at the hand of this government borders dangerously on ethnic cleansing. While we reserve that epithet for the most atrocious sapient rights violations, this action by the Nystatisznan government is nefarious and highly destructive.
Freedom International calls for investigation of child trafficking, commends Imani Lucim

We would like to commend the incredible work done by Oan News journalist Imaji Lucim in unveiling a complex web of adoption agencies operating in the Oan Isles and in various mainland Auroran countries such as Volova to illicitly provide children for adoption in the Oan Isles. We also commend the officers of the Auroran Security Agency and the Oan police who assisted in the discovery and capture of officials involved in this diabolical conspiracy. The fact this is happening is a great shame and brings into question the effectiveness of our law enforcement and public administration agencies in preventing this crime from taking place at all. Thus, we call upon the government to establish a commission of inquiry to uncover the full extent of this practice and to hold its contrivers accountable.