Category: World News

Carnival Stock down 14% intraday trading

| 17/01/2012 | 1 Comment
Carnival Stock down 14% intraday trading
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GFBC NEWS NETWORK

Carnival Vessel in Costa Concordia

Shares of the Miami based company, Carnival Cruises took a free fall in U.S. equities trading after officials at the company verified huge losses stemming from one of it’s ship running aground in Costa Concordia. Carnival Cruises which trades under the ticker symbol CCL, plummeted as the cost of the damages from the accident were revealed. Although the company has revealed that insurance policies would cover the losses at least $40 million will be paid out in deductible premiums to cover the losses.

 

 

 

 

 

Official also stated “The vessel is expected to be out of service for the remainder of our current fiscal year, if not longer,” said the company. “In addition, the company anticipates other costs to the business that are not possible to determine at this time.” n addition, the loss of use of the ship will likely cost the company between $85 million and $95 million during its current fiscal year, which ends Nov. 30.

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S&P downgrades EuroZone “Rescue Fund” to AA+

| 16/01/2012 | 0 Comments
S&P downgrades EuroZone “Rescue Fund” to AA+
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GFBC NEWS NETWORK
GFBC RESIZED INSERT

January 16, 2012

Standard & Poor’s Rating agency Monday has downgraded the creditworthiness of the euro zone’s rescue fund making it difficult for the fund to raise money to bailout at risk euro zone countries cheaply. Germany, the largest of four triple-A economies in the eurozone has refused to increase commitments to the fund, which will hamper the efforts to resuscitate the fledging countries in the euro zone. The euro zone bailout fund’s aim was to raise 720-billion euro secured by the guarantees of the 14 member countries that the union is comprised of.

Charts created using Strategy Trader–

US markets are closed in the remembrance of Dr. Martin Luther King’s Birthday. However, the Euro remains weak since the news of the downgrade has broken.

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Ambassador to Barbados and the Eastern Caribbean: Who Is Larry Leon Palmer?

| 16/01/2012 | 0 Comments
Ambassador to Barbados and the Eastern Caribbean: Who Is Larry Leon Palmer?
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The United States will soon have a new ambassador to the Caribbean island nations of Barbados, St. Kitts and Nevis, Saint Lucia, Antigua and Barbuda, Dominica, Grenada, and Saint Vincent and the Grenadines. President Barack Obama nominated Senior Foreign Service member Larry Leon Palmer on November 1, 2011. If confirmed, Palmer will be the first Foreign Service officer to serve in this post since President Jimmy Carter sent Frank V. Ortiz, Jr., in 1977.

The son of a minister, Palmer was born in Augusta, Georgia, and graduated from T.W. Josey High School as valedictorian in 1966. He earned a scholarship to Emory University and graduated with a B.A. in history in 1970. Shortly after graduating from Emory, Palmer joined the Peace Corps and served as a volunteer in Liberia from 1971 to 1973, teaching high school biology, science, chemistry, physics and American literature. Back in the U.S., he received an M.Ed. in African History at Texas Southern University in 1973, and then began an academic career as assistant director of financial aid at the University of Virginia from 1973 to 1974.

Returning to Liberia, he taught history as an assistant professor at Cuttington College in Suakoko from 1974 to 1976. He earned an Ed. D. in Higher Education Administration and African Studies at Indiana University in 1978 and then taught at Wake Forest University in Winston Salem, North Carolina, from 1978 to 1981.

Palmer entered the U.S. Foreign Service in 1982. He served as vice consul at the embassy in Santo Domingo, Dominican Republic, from 1982 to 1984, and then as personnel officer at the embassy in Montevideo, Uruguay, with concurrent responsibility for personnel posted to Asuncion, Paraguay, from 1984 to 1986. Returning stateside in 1986, Palmer served as staff assistant to the Assistant Secretary for African Affairs from 1986 to 1987, and then served a tour in Africa as counselor for administration at the embassy in Freetown, Sierra Leone, from 1987 to 1989.

In 1989, Palmer became a Pearson Fellow, serving as assistant to Diana Natalicio, the president of the University of Texas at El Paso, with the task of promoting the North American Free Trade Agreement (NAFTA), creating faculty and student exchange opportunities in universities throughout Mexico, and serving as university consultant for International Affairs. At the end of his two years as a Fellow, Palmer served as personnel officer at the embassy in Seoul, South Korea, from 1991-1994, and then returned to the embassy in Santo Domingo, Dominican Republic, as counselor for administration from 1994 to 1998. From 1998 to 1999, Palmer attended the State Department Senior Seminar. He returned to South America in August 1999 to serve as chargé d’affaires at the embassy in Quito, Ecuador, remaining until July 2002.

Palmer began his first ambassadorship on September 9, 2002, as ambassador to Honduras, where he served until July 2005. He was then named president of the Inter-American Foundation, an independent agency that provides grants to Latin American communities to foster economic development, serving until June 2010.

On June 28, 2010, President Obama nominated Palmer as United States Ambassador to Venezuela, and the Senate Foreign Relations Committee approved the nomination. However, in September 2010, Venezuela announced that it would not allow Palmer to enter the country because at his Senate hearing Palmer had testified that morale in the Venezuelan army was low and that members of Venezuela’s government had ties to leftist Colombian rebels. (All nations have the right to approve foreign diplomats; for example, Vatican City in 2009 rejected three American nominees for being insufficiently anti-abortion.) On December 28, 2010, Venezuela confirmed the finality of its rejection of Palmer’s nomination, and the next day the U.S. revoked the visa of Venezuela’s ambassador, Bernardo Álvarez Herrera.
Palmer and his wife, Lucille, have one son.

Source: ALL GOV

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AJC Welcomes Japan Pledge to Cut Iran Oil Imports

| 12/01/2012 | 0 Comments
AJC Welcomes Japan Pledge to Cut Iran Oil Imports
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“As Iran’s second biggest oil customer, Japan’s action will be particularly significant,” said AJC Executive Director David Harris. “Iran’s leaders must recognize that the international community is determined to impose crippling economic and financial sanctions to stop Tehran’s nuclear weapons program.”

Japan imports about ten percent of its oil from Iran, and already has begun to explore increasing the flow from other oil-producing countries.

European leaders are expected to meet in Brussels on January 23, and approve a plan for all 27 EU member states to end their imports of Iranian oil. The EU accounts for 18 percent of Iranian oil exports.

Harris praised the Obama Administration for following up with other nations after the president signed, on December 31, a law that ends all U.S. dealings with Iran’s Central Bank and with foreign entities that do business with the bank.

Increasing support for sanctioning Iran’s banking and energy sectors also comes in the wake of IAEA confirmation this week that Iran has begun enriching uranium up to 20 percent, a major step towards making uranium weapons-grade, and following the IAEA’s devastating November report on Iran’s nuclear program.

SOURCE American Jewish Committee

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AJC Condemns Muslim Attacks on Christians in Nigeria

| 10/01/2012 | 0 Comments
AJC Condemns Muslim Attacks on Christians in Nigeria
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More than 52 people have been murdered in recent days alone by Boko Haram, a Muslim sect that carried out deadly assaults on three churches on Christmas Day and countless other terrorist attacks against Nigeria’s Christian population.

“Such indiscriminate killings of Christians in Nigeria is beyond deplorable and despicable,” said AJC Executive Director David Harris. “We look to Nigeria’s religious leaders to stand together in forcefully condemning such atrocities in the name of a religious group.”

Boko Haram, which aims to install strict Shariah, or Islamic, law across Nigeria, has vowed to keep killing Christians in the multiethnic country.

In today’s attack, at least eight worshippers attending Sunday mass were killed at the Apostolic Church in Yola. More than 20 people were killed yesterday in Mubi.

The latest murderous assaults come after the Christmas Day bombings at the St. Theresa Catholic Church in Madalla and Mountain of Fire and Miracles Church in Jos, which left more than 40 worshippers dead.

“We join with the U.S. Commission on International Religious Freedom in calling on the Administration to press the Nigerians to do their utmost to put to an end this wanton violence by Boko Haram,” said Harris.

SOURCE: American Jewish Committee

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Taiwan, St. Lucia diplomatic relations remain strong: MOFA

| 10/01/2012 | 1 Comment
Taiwan, St. Lucia diplomatic relations remain strong: MOFA
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Taipei, Jan. 10 (CNA) The diplomatic relationship between Taiwan and St. Lucia remains strong, the Ministry of Foreign Affairs (MOFA) said Tuesday, amid rumors that the Caribbean state could severe ties with Taiwan within the next few weeks.

Taiwan’s official diplomatic relations with 12 sovereign states located in the Central and South America are “very stable,” said Jaime Wu, director-general of the MOFA’s Department of Latin American and Caribbean Affairs.

The remark came amid suspicions that the new St. Lucia government, which took office after the general election late last November, might switch diplomatic recognition to China.

Kenny Anthony, the island nation’s new prime minister, had previously accused Taiwan’s Ambassador Tom Chou of influencing St. Lucia’s election by supporting the then-ruling United Workers Party (UWP) and added he would review the diplomatic relations with Taiwan after taking power.

“After the election, Anthony had announced in public that he would maintain relations with Taiwan,” said Wu, clarifying worries about the diplomatic jeopardy.

However, when asked if the ministry intended to replace Chou, Wu gave a more conservative answer.

The director-general said that evaluations are held regularly and a personnel reshuffle will be made under necessary conditions.

St. Lucia first established diplomatic ties with Taiwan in 1984 but switched recognition to China in 1997.

In 2007, after 10 years of relations with Beijing, the ruling UWP

Source: Focus Taiwan

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Kim’s last gift to N Korea: loads of fish

| 24/12/2011 | 5 Comments
Kim’s last gift to N Korea: loads of fish
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SEOUL, South Korea (AP) – The people of North Korea’s capital have received a special gift from recently deceased leader Kim Jong Il: loads and loads of fish.
North Korea’s state-run Korean Central News Agency has reported that Kim was concerned about the supply of fish in Pyongyang, and had looked into the matter the day before he died. North Korea announced Monday that he died of a massive heart attack on Saturday.

North Korea's flag is flown at half-mast at the North Korean Embassy to mourn the death of North Korean leader Kim Jong Il in Beijing, China, Friday, Dec. 23, 2011. (AP Photo/Eugene Hoshiko) Source: AP - Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The report, issued late Friday, said Kim’s young son and heir, Kim Jong Un, “took all necessary measures to truck fresh fish to the capital city in time and supply the fish to the citizens, even in the mourning period.”

North Korea is in official mourning until after Kim’s funeral Dec. 28-29.

North Korean media have been flowing with eulogies for Kim Jong Il, who ruled the country for 17 years after the death of his father, North Korea’s national founder and eternal President Kim Il Sung. Both Kims were the object of intense personality cults.

With Kim Jong Un poised to extend the Kim family dynasty into an additional generation, North Korea is quickly building the mythology by emphasizing his bloodline and the Kim family legacy, from its roots as revolutionaries fighting the Japanese to their spiritual role as protectors of the North Korean people.

The state media has broadcast constant scenes of public mourning, with women and children wailing, soldiers bowing before Kim’s smiling portrait and senior officials lining up to view his body, which is on display in a glass case at the same funeral palace where his father’s embalmed remains are on view.

North Korea has also claimed Kim’s death generated a series of spectacular natural phenomena, creating a mysterious glow atop a revered mountain, cracking a sheet of ice on a lake with a loud roar and inspiring a crane to circle a statue of the nation’s founder before perching in a tree and drooping its head in sorrow.

The reports have stressed how the North Korean people are deeply indebted to the largesse of their leaders, despite the deepening political isolation and economic hardship they have faced in recent years, including severe famines and shortages of electricity, food and other necessities.

“Leader Kim Jong Il is always with us as we have respected Comrade Kim Jong Un identical to him,” KCNA quoted Song Hye Yong, a 42-year-old woman, as saying as she carried “a bag full of fish in her hand.”

The report also quoted Kim Jong Hwa, a saleswoman at a grocery in the central district of the city, as saying she was deeply touched by leader Kim Jong Il’s gift of fish to the people.

“All of citizens are deeply moved by his deep care,” she said.

Despite initial jitters over possible instability, officials in Seoul and Washington are calling the political transition in North Korea smooth so far. There have been no outward signs of unrest on the streets or unusual troop movements along the borders.

The North, however, is highly sensitive to what it sees as outside threats.

Its government-run website, Uriminzokkiri, has slammed South Korea for putting its military on alert, calling that move an “insult” to a nation in mourning.

The Korean peninsula remains in a state of war because the three-year Korean War ended in 1953 in a truce, not a peace treaty. Tanks and troops still guard the heavily fortified Demilitarized Zone dividing the two sides.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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EARTHQUAKE !!!! New Zealand 5.9 strikes South Island

| 22/12/2011 | 10 Comments
EARTHQUAKE !!!! New Zealand 5.9 strikes South Island
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GFBC NEWS NETWORK
Photobucket

December 22, 2011

An earthquake of 5.9 magnitude struck near the New Zealand city of Christchurch on Friday, the U.S. Geological Survey said, but there were no immediate reports of damage or casualties.

The quake came 10 months after a 6.3 quake hit the city killing about 180 people.

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Greek government on brink as crisis grips G20 summit

| 04/11/2011 | 0 Comments
Greek government on brink as crisis grips G20 summit
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MICHAEL SETTLE UK POLITICAL EDITOR IN CANNES

4 Nov 2011
THE embattled Greek government is teetering on the brink of collapse today. It stepped back from a proposed referendum but still faces defeat in a crunch confidence vote tonight.

HARD TIMES: Protesters gathered as finance ministers fought to prevent meltdown in the eurozone. Picture: Getty Images

As the political and financial crisis gripping Athens over-shadowed the first day of the G20 summit, European leaders talked for the first time of a possible Greek exit from the eurozone to preserve the single currency.

World leaders again anxiously urged Europe to act swiftly to stop contagion spreading from its sovereign debt crisis.

Chancellor George Osborne, emerging from a longer-than- expected meeting with his finance minister counterparts, said: “There was a real sense of urgency in the room about the economic situation.”

In London, Treasury minister Mark Hoban confirmed the UK had contingency plans to deal with the potential collapse of the euro.

Source: Herald Scotland

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New UNEP Report Tracks the Changing Global Environment over the Past Two Decades

| 03/11/2011 | 0 Comments
New UNEP Report Tracks the Changing Global Environment over the Past Two Decades
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(Media-Newswire.com) – Nairobi, 1 November 2011 – The environmental changes that have swept the planet over the last twenty years are spotlighted in a new compilation of statistical data by the UN Environment Programme ( UNEP ), released today in a report entitled “Keeping Track of our Changing Environment: From Rio to Rio+20″.

The report is produced as part of UNEP’s “Global Environmental Outlook-5″ ( GEO -5 ) series, the UN’s most authoritative assessment of the state, trends and outlook of the global environment. The full GEO-5 report will be launched next May, one month ahead of the Rio+20 Conference taking place in Brazil.

UN Under-Secretary General and UNEP Executive Director, Achim Steiner, said, “Today marks the deadline for governments, business and civil society to submit their submissions for how Rio+20 can deliver a transformational outcome in terms of accelerating and scaling-up sustainable development for now seven billion people”.

“The indicator report gets us all back to basics, underlining the rapid buildup of greenhouse gases to the erosion of biodiversity and the 40 per cent increase in the use of natural resources-faster than global population growth. But the report also underlines how, when the world decides to act it can dramatically alter the trajectory of hazardous trends that threaten human well-being-action to phase-out ozone damaging chemicals being a spirited and powerful example,” he added.

“Rio+20, under the two themes of a Green Economy in the context of sustainable development and poverty eradication and an institutional framework for sustainable development, can with the requisite level of leadership trigger the necessary switches that may ensure that the balance of negative versus positive trends moves from the red into the black and that the Right to Development is enjoyed by the many rather than the few,” said Mr. Steiner.

Through data, graphics and satellite images, the UNEP report offers wide-ranging information on a number of key issues:

On population

. As the world’s population reaches 7 billion, urban population has grown by 45 per cent since 1992

. Yet the percentage of slum dwellers has dropped from 46 per cent in 1990 to a third in 2010, thanks to improved housing and sanitation

. The number of megacities with at least 10 million people has grown from 10 in 1992 to 21 last year – a 110 per cent increase

. 1.4 billion people globally have no access to reliable electricity or the power grid.

Climate change

. Global C02 emissions continue to rise due to increasing use of fossil fuels, with 80 per cent of global emissions coming from just 19 countries.

. The amount of CO2 per US$1 GDP has dropped by 23 per cent since 1992 underlining that some decoupling of economic growth from resource use is occurring.

. Nearly all mountain glaciers around the world are retreating and getting thinner, with severe impacts on the environment and human well-being.

. Diminishing glaciers not only influence current sea-level rise, but also threaten the well-being of approximately one-sixth of the world’s population.

. Sea levels have been rising at an average rate of about 2.5 mm per year since 1992.

Energy

. Tracking energy trends since 1992, the report indicates that the contribution of renewable energy ( including biomass ) to the global energy supply stood at an estimated 16% in 2010.

. Solar and wind energy accounted for only 0.3% of the total global energy. Increased recognition of the need to move towards low carbon, resource efficient energy solutions can be seen in the 540% increase in investments in sustainable energy between 2004 and 2010.

. Due to the decreasing prices of the technologies and adoption of new policies, growth in biodiesel as a renewable energy source has jumped 300,000 per cent, use of solar energy has increased by nearly 30,000 per cent, wind by 6,000 per cent and biofuels by 3,500 per cent.

Resource Efficiency

. The global use of natural resources rose by over 40 per cent from 1992 to 2005. The report warns that unless concerted and rapid action is taken to curb and decouple resource depletion from economic growth, human activities may destroy the very environment that supports economies and sustains life.

Forests

. Despite the net reforestation now seen in Europe, North America and Asia Pacific, ongoing forest loss in Africa and Latin America and the Caribbean means that global forest area has decreased by 300 million hectares since 1990.

. The annual 20 per cent rise in the number of forests receiving certificates for sustainable forestry practices shows that consumers are exerting influence on timber production. However, only around 10 per cent of global forests are under certified sustainable management.

. A growing percentage of the world’s forests are one that have been replanted-an area equaling the size of a country like Tanzania.

Food Security and land use

. Food production has risen by 45% since 1992. These increased yields are heavily reliant on the use of fertilizers, which as well as enriching soil fertility, can also have a negative impact on the environment, such algal blooms in inland and marine waters.

. Land used for organic farming is growing at an annual rate of 13 per cent.

Drinking Water

. The world will meet, or even exceed, the Millennium Development Goals target on access to drinking water; indicating that by 2015 nearly 90 per cent of the population in developing regions will have access to improved sources of drinking water, up from 77 per cent in 1990.

The data compiled also indicates that environmental target-setting works best for well-defined issues such as phasing out leaded gasoline or ozone-depleting substances.

The Montreal Protocol on Substances that Deplete the Ozone Layer, for example, used mandatory targets to phase-out the pollutants that were damaging the planet’s protective shield.

Over 90 per cent of all ozone-depleting substances under the treaty were phased out between 1992 and 2009. Similarly, only a small number of countries still use leaded gasoline and they are expected to make the switch over the next year or two.

Other facts and figures from the report include:

. 13 per cent of the world’s land surface, 7 per cent of its coastal waters and 1.4 percent of its oceans are protected.

. There is a growing concern that the oceans are becoming more acidic. This could have significant consequences on marine organisms which may alter species composition, disrupt marine food webs and potentially damage fishing, tourism activities.

. The ocean’s pH declined from 8.11 in 1992 to 8.06 in 2007.

. The number of tanker oil spills recorded has declined in 20 years.

. Biodiversity has declined by 12 per cent at the global level and by 30 per cent in the tropics.

. Eco-tourism is growing at a rate three times faster than traditional mass-tourism.

. Plastics production has climbed by 130 per cent.

The UNEP publication also notes that many environmental issues, which were only emerging in 1992, are now firmly part of mainstream policymaking in many countries.

Some examples include:

. New Multilateral Environmental Agreements and Conventions which have been established or entered into force to address emerging global environmental issues.

. The greening of economy has taken off as a viable pathway of low-carbon, climate resilient and resource efficient economic development.

. Carbon Trading has put a monetary value on Greenhouse Gas Emissions.

. Recycling, or processing waste into new resources, is becoming policy and practice in many countries.

. Commercialization of renewable energy, with biofuels, solar and wind energy production growing.

. Chemicals Management has led to the banning of a number of deadly chemicals.

. Organic Products and eco-labeling are growing thanks to consumer demand.

. Nanotechnology is growing, especially in the fields of energy, health care, clean water and climate change.

The authors of the report point out that the lack of sufficient, solid data and monitoring systems to measure progress remains an obstacles to achieving the environmental goals set by the international community. The report highlights the missing pieces in our knowledge about the state of the environment, calling for global efforts to collect scientifically-credible data for environmental monitoring.

The Eye on Earth Summit, to be held in Abu Dhabi next month, presents one such opportunity, where scientists, policymakers and governments will work together to define the key challenges and solutions related to environmental data access and sharing.

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