Monday, June 30, 2014

State Bank of India (SBI) and Bank of Baroda (BoB), two of the largest public sector banks of India, proposed on Saturday their gold deposits should be allowed to count toward their state-mandated cash reserve ratio (CRR) or statutory liquidity ratio (SLR).

Arundhati Bhattacharya, the chairperson of SBI, made the proposal at a Gem & Jewellery Export Promotion Council event held in Mumbai on Saturday. She said the need for gold deposits to become more liquid has increased because gold import is putting a strain on the country’s current account deficit. S. S. Mundra, Chairperson and managing director of BoB, agreed and said it would help bringing gold into the more productive sectors of the economy.

Bhattacharya added SBI has no longer any incentive to run its gold deposit scheme as it cannot fully deploy the assets, noting SBI is the party most involved with gold deposits in India. G. S. Sandhu, Union financial services secretary, also at the event, responded that the government is looking for ways to monetize the gold held by the public, as import of gold can strain the current account deficit and foreign exchange reserves.

Currently, the Reserve Bank of India has set the CRR at 4% and the SLR at 22.5%. SLR is the portion of deposits that must be invested in recognized safe securities and assets.

Thursday, April 9, 2009

Protests which began Monday escalated to a riot on Wednesday consisting of over 10,000 people in Chi?in?u, the capital of Moldova, protesting the results of Sunday’s 2009 Moldovan parliamentary election, which showed an apparent, narrow victory for the Communist Party (Partidul Comuni?tilor din Republica Moldova, PCRM). Demonstrators claim the victory was the result of electoral fraud.

The demonstration escalated to a “flash mob” of between 10,000 to 15,000 communicating via online tools like email, micro-blogging tool Twitter, and social-networking website Facebook. “We sent messages on Twitter but didn’t expect 15,000 people to join in. At the most we expected 1,000”, said Oleg Brega of the activist group Hyde Park.

Police deployed tear gas and water cannons, and fired blanks into the crowd. The rioters threw stones at the riot police and took control of the parliament building and presidential office. A bonfire was built out of parliamentary furniture and all windows below the 7th floor were broken.

Approximately one hundred protesters and 170 police officers are reported as injured. There have been conflicting reports as to whether a female protester died during the altercation.

193 protesters “have been charged with looting, hooliganism, robbery and assault,” said an Interior Ministry spokesperson. This announcement sparked another protest by those demanding the release for those detained.

There is wide speculation about who was to blame for the rioting.

President Vladimir Voronin has expelled the Romanian ambassador from Moldova, blaming Romania for the violent protests. “We know that certain political forces in Romania are behind this unrest. The Romanian flags fixed on the government buildings in Chisinau attest to this” said Voronin. “Romania is involved in everything that has happened.“ Voronin also blamed the protests on opposition leaders who used violence to seize power, and has described the event as a coup d’état.

Protesters initially insisted on a recount of the election results and are now calling for a new vote, which has been rejected by the government. Rioters were also demanding unification between Moldova and Romania. “In the air, there was a strong expectation of change, but that did not happen”, said OSCE spokesman Matti Sidoroff.File:Dorin Chirtoaca.jpg

“The elections were fraudulent, there was multiple voting” accused Chi?in?u mayor Dorin Chirtoac? of the Liberal Party. “It’s impossible that every second person in Moldova voted for the Communists. However, we believe the riots were a provocation and we are now trying to reconcile the crowd. Leaders of all opposition parties are at the scene,” said Larissa Manole of the Liberal Democratic Party of Moldova.

The Organisation for Security and Cooperation in Europe (OSCE) proclaimed the PCRM to have won 61 seats in initial counts, enough to guarantee a third term in power for Voronin, who has held the position since 2001. But the Central Election Commission has received evidence of election violations, according to RIA Novosti, and upon recounts conducted of disputed polls, the commission reported that the Communists achieved 49.48% of the Moldovian vote, giving them 60 parliamentary seats — one short of the total needed to win the presidential election. “The electoral commission also granted opposition parties permission to check voter lists, fulfilling one of their chief demands,” said Yuri Ciocan, Central Election Commission secretary.

Voronin will step down in May, however his party could elect a successor with 61 parliamentary seats without any votes from outside parties as well as amend the Constitution. With the PCRM garnering 60 seats, the opposition will have a voice in the presidential election for a new successor.

The western part of Moldova was a part of Romania from the Romania’s independence until the region was detached by the USSR in 1940 to form the Moldavian Soviet Socialist Republic. On independence in 1990 the country sought union with Romania but the eastern, Russian- and Ukrainian-inhabited areas of the country declared themselves independent from Moldova and formed the state of Transnistria and movement toward union was halted.

Moldova is Europe’s poorest country, where average income is less than $250 (£168) a month. The country’s neighbours are Romania and Ukraine. Romania is a European Union (EU) state.

Wednesday, June 30, 2021

Earlier this month, Wikinews spoke with University of Sussex professor of economics L. Alan Winters regarding the decision of the United Kingdom to leave the European Union (EU) in the 2016 Brexit referendum and the subsequent negotiations leading up to and following the EU–UK Trade and Cooperation Agreement of December, which he has researched extensively. In a call, a Wikinews correspondent spoke with Professor Winters about recent developments in UK trade policy to learn more about his observations.

Winters is professor of economics at the University of Sussex, as well as founding director and fellow of the UK Trade Policy Observatory (UKTPO). His career spans over 15 years, including as chief economist at the Department for International Development, director of the Development Research Group of the World Bank, CEO of the Migrating Out of Poverty Research Programme Consortium and advisor for the Organisation for Economic Co-operation and Development, the Commonwealth Secretariat, the European Commission, the European Parliament, the United Nations Conference on Trade and Development, the World Trade Organization and the Inter-American Development Bank.

Three reports where Winters is listed as an author were used as reference during the interview: “COVID-19 will reinforce the Brexit shock”, “The Costs of Brexit” and “Taking stock of the new UK-EU Trade and Cooperation Agreement: governance, state subsidies and the level playing field”.

Winters was awarded the title “Companion of the Most Honourable Order of the Bath”, styled C.B., on June 16, 2012 as part of the 2012 Birthday Honours.

Monday, March 17, 2008

Corrado Giustozzi, who has written many books, in addition to being an Information security consultant for many Italian law enforcement agencies, was recently interviewed for Wikinews in Italian, as part of Wiki@Home. A translation of an abridged version of the interview can be found below.

Friday, August 18, 2006

Web.com, a web-hosting and online services company, has released its second quarter financial results and associated statements – and it’s clear that the company has experienced both the ups and downs of executing on its goals.

On the upside, the company achieved an industry-first achievement of securing a non-exclusive license agreement with Hostopia.com Inc. last month. The agreement granted Hostopia rights to two of Web.com’s patents over five years on a non-transferable basis. The specific licensed patents were U.S. Patent numbers 5,680,152 and 6,789,103 and broadly cover methods for website building and web hosting control panels. Importantly for revenues, the license agreement states that Hostopia will pay Web.com a royalty equal to 10% of their gross U.S. retail revenues for five years.

On the downside, the company failed to deliver on the expected and announced acquisition of Houston-based WebSource Media – a business offering “easy and affordable built-to-order websites”. The announced acquisiton was to have added about $9 million in annual revenue to Web.com.

However, according to published reports from Web.com, the company filed to rescind its acquisition of WebSource media just about one month after the announcement. This action was taken after the Federal Trade Commission filed a sealed action in the United States District Court for the Southern District of Texas against WebSource Media, L.L.C. and its members – alleging unfair and deceptive acts and business practices prior to the acquisition.

In a press release issued by Web.com, President and CEO Jeff Stibel discussed the effects of the rescinded acquisition on the second quarter resutls, “Web.com continued to drive subscriber growth across its core website and web services plans by refining our sales and marketing efforts and working closely with strategic distribution partners. While we had unfortunate news about an acquisition we made during the quarter, the company has moved on and is working on further solidifying its position as a leader in the industry.”

On the financial side of the report, Web.com reported that total revenues for the quarter were $12.1 million, down from $12.3 million in the first quarter of 2006. The second quarter marked the last quarter of recognizing Verizon revenues (a deal that was initially cancelled in December 2004 and terminated in the second quarter of 2006).

On the organic customer acquisition side of the equation, the company reported that net subscribers totaled approximately 148,000 for the quarter, down from approximately 149,000 in the first quarter of 2006. The reduction in the second quarter as compared to the first quarter includes the loss of approximately 3,200 Verizon subscribers. Excluding the loss of Verizon subscribers, the company added approximately 1,600 subscribers in the quarter.

Monday, October 15, 2007

Sam Brownback is perplexed. The U.S. Senator from Kansas and Presidential candidate is a Republican whose politics—he is against marriage for gay people, he is against abortion, and he has a clean image in a party tainted by scandal—should speak favorably to the party’s base. But it has not. “I’m baffled by that myself,” Senator Brownback told Wikinews reporter David Shankbone. “We haven’t been able to raise money.”

A recent poll in Iowa has put him in eighth place, with 2% supporting his campaign. “If we don’t finish fourth or better in Iowa…we’ll pull out.”

Senator Brownback’s relationship with God infuses almost every answer you find below. Although he doesn’t feel “competent” to explain why God would dislike gays, he does feel strongly that allowing two men or two women to enter into the union of marriage will destroy it for heterosexuals. Pointing to the research of Stanley Kurtz at the Hoover Institution, Brownback asserts that Northern Europeans have “taken the sacredness out of the institution.”

In the interview, Senator Brownback discusses the tug-and-pull that befalls him when his constituents show up at his office and say, “Look, I’m a conservative, but we need this bridge, we need this subsidy, we need this hospital.” Brownback feels this spending system needs to be changed; however, when it comes to energy policy, Brownback is there for his constituents. David Shankbone asked the Kansas Senator, a supporter of cellulosic ethanol, why he doesn’t support the lowering of tariffs on sugar since sugar ethanol delivers 8 times the energy output of cellulosic ethanol. Brazil, in particular, has become energy independent because of its sugar ethanol program. It’s cheaper to produce, and there is vastly more bang for the buck in sugar fuel than in corn fuel; an entire country no longer needs to import oil because of it. Federal tariffs currently make sugar ethanol too expensive in the United States. “You’re going to kill the ethanol industry here just as it gets going,” was Senator Brownback’s response. However, there is a debate over whether the process to make corn ethanol uses more energy than the ethanol itself produces.

Below is David Shankbone’s interview with Senator Sam Brownback.

Wednesday, April 13, 2022

A 17-year-old boy has died and a 16-year-old boy is in a serious condition in hospital after a fight broke out at the Royal Easter Show in Sydney, Australia, on Monday at around 8 p.m. Sydney time (10:00 UTC).

According to New South Wales Ambulance Inspector Mark Whittaker, the 17-year-old, who worked at the event, went into cardiac arrest after being stabbed in the chest in front of his parents. Paramedics performed CPR on the teenager before loading him into an ambulance. He died while being transported to Westmead Hospital. The 16-year-old suffered stab wounds to his leg and is undergoing treatment.

A 15-year-old boy was arrested at the show and was taken to Auburn Police Station for playing a small role in the stabbing, according to police. He appeared in a juvenile court and was granted bail on charges of affray, carrying a knife in public and being armed with intent.

Strike force detectives are still trying to track down others involved in the stabbing. They believe the stabbing was not a random attack, and instead was a planned confrontation between two groups.

The carnival’s adult section was closed to allow forensics teams to inspect the area.

The show’s manager Murray Wilton denied claims that event security failed. He said it was impossible to check the bags of all attendees, and they had decided to carry out random bag checks instead.

Event organisers have promised full refunds will be offered for people who no longer wish to attend the show.

Australian Prime Minister Scott Morrison gave his condolences and said: “All our kids will be going to the Royal Easter Show. My kids will be going to the Royal Easter show. We want them to be safe. This is a very distressing event. The violence that is there, that has no place. It has no place in this country. It has no place at an event where people are coming to enjoy themselves.”

Superintendent Danielle Emerton of the New South Wales Police Force has reassured people the show is still safe and asked for the public’s help to find others involved in the stabbing. She said: “We know that there were thousands of people at the show last night and we know that there’s a lot of vision that is out there,” urging anyone with information about the incident to come forward.