Negotiations for hijacked Saudi oil tanker begin

Thursday, November 20, 2008

Vela International Marine, the Saudi Arabian company that owns the MV Sirius Star oil tanker which was captured by pirates on November 15, has begun negotiations with the Somali pirates.

The Saudi Foreign Minister Saud al Faisal said that talks had begun, but he did not say whether a ransom would be paid. Vela International Marine, which is owned by state-owned Saudi Aramco, would only say it is “working toward [the crew’s] safe and speedy return.”

“We do not like to negotiate with pirates, terrorists or hijackers,” said Saud al Faisal in Rome, after speaking with Franco Frattini, the Foreign Minister of Italy.

Dubai-based television network Al Jazeera broadcast an audiotape of a man who said he was with the pirates. He identified himself as Farah Abd Jameh.

“Negotiators are located on board the ship and on land. Once they have agreed on the ransom, it will be taken in cash to the oil tanker. We assure the safety of the ship that carries the ransom. We will mechanically count the money and we have machines that can detect fake money,” the man said. He did not mention any specific amounts for the ransom.

We do not like to negotiate with pirates, terrorists or hijackers.

The British Foreign Office released a statement Wednesday which identified two of the crew as chief engineer Peter French and second officer James Grady. The rest of the 25-man crew are from Croatia (1), Poland (2), Philippines (19) and Saudi Arabia (1). They are all reported to be safe.

Foreign Secretary David Miliband said that the Royal Navy was coordinating a European response.

Dominique Montecer, the director of operations at GEOS Group, a corporate risk management firm, cast doubt on a military response.

“Everything is possible but it would take extraordinary means and organization, and the risk of an ecological disaster is very high. They are sitting on a bomb,” Montecer said.

“It’s certainly a very complex environment to work in — a Liberian-flagged vessel, owned by a Saudi company, in Somali waters, with so many different nationalities on board,” said Lt. Nate Christensen of the United States Navy when asked about the possibility of taking back the Sirius Star by force.

“Shipping companies are already making decisions not to go through the Gulf of Aden, and making the decision to take the much longer route around the south of Africa,” said Peter Hinchcliffe, marine director of the International Chamber of Shipping. “And with the increase in intensity of attacks, that is something that is going to be much more frequent. It’s adding let’s say an average of two weeks to the passage time.”

Since the capture of the Sirius Star, pirates in the Gulf of Aden have taken at least three other ships. These include a Chinese ship carrying wheat, a Greek bulk carrier, and a Thai fishing vessel.

The International Maritime Bureau reports that Somali pirates currently hold 14 ships along with an estimated 250 crew members. Since January, there have been over 30 hijackings in the area, while another 60 ships have been attacked.

Among the ships still held is the Ukrainian cargo ship MV Faina, which has a cargo of 33 Russian T-72 battle tanks, as well as other weapons. The Faina was hijacked on September 25.

Meanwhile, the Indian Navy has reported that it encountered and destroyed what it called a pirate “mother ship” on Tuesday. India dispatched frigate INS Tabar last month to protect its merchant shipping in the Gulf of Aden. The pirate vessel reportedly threatened the Indian frigate after it was hailed.

Several NATO members, as well as Russia, India and Malaysia have all sent warships to the region to protect merchant shipping in the area. The Combined Task Force 150, formed as a multinational coalition in the War on Terrorism, was restructured in 2006 to aid in anti-piracy efforts.

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Commonwealth Bank of Australia CEO apologies for financial planning scandal

Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

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Essential Factors That Can Greatly Help You Choose Your First Safety Boots

Submitted by: Larry Mundson

If you are working in an environment like construction sites, mines and refineries, industrial plants and chemical factories, chances are your risk of getting injured is highly possible because of the risky working conditions you have. That is why it very important to be prepared for this kind of jobs to avoid accidents in the future. Among the list of protective gears you should have, one the most important are the safety shoes, which, as the name suggests, gives your toes protections and safety.

Accidents do happen in workplaces and these are realities. Safety boots may not be cheap, but in the long run, and injured feet is much more expensive to heal than buying a pair of shoes that are made for durability and protection. Safety shoes come in different designs and functionality although it s main purpose it to provide safety for your feet. Their outsoles are made from different kind of compounds that can give you better traction and grip of the ground or pavement you are working in. Most of these boots are made with metal plating inside located near the tip of the shoes that gives it a hardened and more durable frame for extra protection. When you are in a construction site and you released your hammer, even it falls directly on your foot, your toes are safe from the heavy impact a falling hammer could cause. Although traditional boots are made with steel plating inside, modern technology has allowed manufacturers to create reinforcements that are made from different composite materials that makes it more lightweight but durable as well. Industrial safety and health law require the use of such boots in some industrial settings and strictly requires certification of safety boots and place the symbols outside where it is easily seen.

[youtube]http://www.youtube.com/watch?v=jmA1taEdcHo[/youtube]

Safety boots are the most durable and tough footwear you can possibly have. They are made with metal plates inside that can protect your toes from falling heavy objects or from stepping at any pointed objects that can easily penetrate any ordinary shoes. This also offers extra protection to workers working in wet environments because these are extremely waterproof. This can prevent water and other dangerous liquid substance from sipping in inside your shoes that can potentially harm your feet.

Most safety boots comes with a symbol that indicates the protection the shoe offers. A green triangle is class 1 toe cap with puncture resistant sole and the yellow triangle is class to with the same sole feature. A white square with an ohm symbol inside is best for electrical protection; Yellow Square with SD is for anti static safety and the red square with C symbol is an electrically conductive shoe. If your working environment is the forest which requires you to use chainsaws and other equipment similar to it, look for shoes with a fir tree symbol as it indicates protection from chainsaws and other bladed stuffs.

Safety footwear is necessary in protecting you from the hazards of your working environment. Accidents always happen and the most important thing is that you are properly protected from these from head to foot.

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Safety Boots

are very safe & comfort while heavy work available at http://www.michiganshoe.com

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Australian solar racing team parades at Sydney campus send-off

Friday, September 20, 2013

Australian solar racing team Sunswift paraded their fifth car, eVe, on the Kensington campus of the University of New South Wales, Sydney, yesterday. They are leaving for the 2013 World Solar Challenge this weekend. Both staff and students came to the send-off event in the early afternoon.

The vehicle route led from the biomed lawn of Michael Birt Gadrens in upper Kensington Campus down the University Mall to Anzac Parade with a few stops along the way at Commerce Courtyard and Globe Lawn. The driver, as well as the passenger, alighted as six members of the team carried eVe over the stairs of University Mall.

eVe, the latest car built by the Sunswift team, was designed for the new Cruiser class of the competition, and thus meets regulations for normal roads-worthy vehicles. While its predecessor IVy weighed under 150 kg, eVe weighs approximately 300 kg, with light carbon fiber monocoque construction and 15 kWh batteries weighing only 63 kg. However, eVe has achieved a similar drag coefficient, despite different overall shape and larger frontal area.

The 2013 Bridgestone World Solar Challenge is to take place on October 6–13, 2013.

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I’ll Have Another wins 2012 Preakness Stakes

Monday, May 21, 2012

The placement for first and second place at the 2012 Preakness Stakes could have been a replay of the Kentucky Derby earlier this month as I’ll Have Another came in first with Bodemeister behind in second. In this race, Creative Cause finished third.

By winning the Kentucky Derby and the 137th Preakness Stakes, I’ll Have Another has a chance at winning the US Triple Crown of thoroughbred horse racing. The final race I’ll Have Another would have to win is the Belmont Stakes, which will be held on June 9.

I’ll Have Another was not favored to win the Preakness Stakes and his odds were set at 3-1. Bodemeister, who was the favorite at 2-1 odds, was the speed horse again as he led the field for most of the race just as he did at the Kentucky Derby. This time, Creative Cause was following close behind in second by the time the field of horses reached the far turn. Just as in the Kentucky Derby, I’ll Have Another pushed faster in the final leg of the race. However, the Preakness Stakes finish was closer with I’ll Have Another squeezing by the pacesetter at the very end to win the race in 1:56.9.

Mexican jockey Mario Gutierrez has won his last four races with I’ll Have Another. He gave I’ll Have Another the credit for the finish, “No one put him in this race. He put himself into the race,” he said. Gutierrez said all he had to do was signal to the horse that it was time to challenge Bodemeister and the horse did the rest.

The winning horse is owned by financier J. Paul Reddam and trained by Doug O’Neill.

The Pimlico Race Course in Baltimore, Maryland was filled with a crowd of 121,309 to watch the Triple Crown hopeful. The last horse to win the Triple Crown was Affirmed in 1978.

THE HORSES

According to the official Pimlico website, the horses that competed this year in the Preakness Stakes by starting position include:

1. Tiger Walk is owned by Sagamore Farm, trained by Ignacio Correas IV, and was ridden by Ramon A. Dominguez.

2. Teeth of the Dog is owned by J.W. Singer. The thoroughbred is trained by Michael Matz and the jockey was Joe Bravo.

3. Pretension was the winner of the 2012 Canonero II Stakes. The horse is owned by Kidwells Petite Stable, trained by Christopher W. Grove, and was raced by Javier Santiago.

4. Zetterholm is owned by Winter Park Partners, trained by Richard E. Dutrow, Jr., and ridden by Junior Alvarado.

5. Went The Day Well is owned by Team Valor International and is trained by H. Graham Motion. His jockey was John Velazquez. This team won last year’s Kentucky Derby race with Animal Kingdom, and they took Went The Day Well to the 2012 Kentucky Derby.

6. Creative Cause is owned by Heinz Steinmann and trained by Mike Harrington. His jockey was be Joel Rosario. Creative Cause was part of the field at the Kentucky Derby, too.

7. Bodemeister, winner of the Arkansas Derby at Oaklawn Park, is trained by Bob Baffert. He is owned by Zayat Stables and his jockey was Mike Smith.

8. Daddy Nose Best was the winner of the Sunland Derby at Sunland Park and the El Camino Real Derby at Golden Gate and raced in the 2012 Kentucky Derby. He is owned by Cathy and Bob Zollars, trained by Steve Asmussen. His jockey was Julien Leparoux.

9. I’ll Have Another was the winner of the Kentucky Derby at Churchill Downs. He is owned by financier J. Paul Reddam, trained by Doug O’Neill and ridden by jockey Mario Gutierrez.

10. Optimizer is trained by D. Wayne Lukas, owned by tobacconist Brad Kelley of Bluegrass Hall LLC and ridden by Corey Nakatani. This horse raced also raced in the Kentucky Derby.

11. Cozzetti is trained by Dale Romans and was raced by Jose Lezcano The horse is owned by Albaugh Family Stables.

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Kenya government fires health worker strikers over failure to ‘report back to work’

Saturday, March 10, 2012

The Kenyan government has dismissed 25,000 striking health workers, mostly nurses, citing failure to heed government orders to recommence work and concern for the welfare of hospital patients. Speaking on behalf of the government, Alfred Mutua stated the workers were dismissed “illegally striking” and “[defying] the directive … to report back to work”, which he called “unethical”. The government asks that “[a]ll qualified health professionals, who are unemployed and/or retired have been advised to report to their nearest health facility for interviews and deployment”, Mutua stated.

The workers, who had been on strike for four days, were wishing to have improvements made to their wages, working conditions, and allowances. The strikes have caused a significant number of Kenyan hospitals to cease operations. According to Kenya Health Professionals Society spokesperson Alex Orina, the average monthly wage plus allowances for health workers in Kenya is KSh25,000 (£193, US$302 or €230) approximately. With an increasing number of reports of patients neglected in hospitals emerging, two trade unions met with the Kenyan government yesterday and negotitated a return to work, although a significant proportion of demonstrators defied the agreement, The Guardian reported.

Orina told Reuters the dismissals were “cat-and-mouse games, you cannot sack an entire workforce. It is a ploy to get us to rush back to work, but our strike continues until our demands are met”. Frederick Omiah, a member of the same society, believed the government’s actions would “make an already delicate and volatile situation worse”, expressing concern that demonstrations may continue in the capital Nairobi, amongst other locations. Kenya Medical Practitioners, Pharmacists and Dentists Union chairperson Dr. Victor Ng’ani described government actions as “reckless”.

Mutua said the health workers were “no longer employees of the government” and had been eliminated from the payroll. While Ng’ani told the BBC of difficulties with finding other workers as skilled and experienced, Mutua reportedly stated that this would not be an issue. “We have over 100,000 to 200,000 health professionals looking for work today,” Mutua commented. “There will be a lag of a day or two … but it is better than letting people die on the floor, at the gate, or suffer in pain”.

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Services Offered By Commercial Hvac Contractors In Glendale

byadmin

Commercial HVAC contractors in Glendale offer a wide range of different services to commercial clients. Commercial HVAC systems are significantly more advanced. They are designed primarily for use in larger buildings with the outer unit usually installed on the roof. Like any other building appliance, HVAC units also require adequate maintenance from time to time if you want them to continue working normally. If you don’t get the unit serviced at least once a year, it will start causing issues and may not work properly. Here are some of the services that commercial HVAC contractors offer.

Gas and Electric Heating Installation

Whether you have an electric or a gas heater, they are both equally difficult to install. Unless you have experience with installing such systems and have been qualified for service, you shouldn’t try meddling with these systems on your own. Instead, you should call commercial HVAC companies such as Gonzales Heating and Cooling for installation. When you contact HVAC contractors for the job, they will ask certain details such as the model of the HVAC system. They will give you a quote for the costs of service after taking such factors into account.

Plumbing Issues

If you run a business, you will obviously want everything to go as smoothly as possible in the workplace. However, if you are constantly facing plumbing issues, not only will it affect productivity but it will also cost a lot of money in repairs. Many commercial HVAC contractors offer a full suite of plumbing solutions to business owners. Whether you are facing serious drainage issues or wish to upgrade the plumbing fixtures installed in your place of business, you can call the HVAC contractors. They will send over qualified plumbers to handle the job and get the work done in a short timeframe.

Man charged with attempted murder in £40 million London jewel heist

Sunday, September 6, 2009

24-year-old Aman Kassaye, of no fixed abode, is to face a charge of attempted murder for his alleged role in an armed robbery that netted £40 million ($65 million) worth of jewelry from a London store.

Kassaye is the seventh man to be charged, and is also facing prosecution for conspiracy to rob the Graff store in New Bond Street, false imprisonment, and using a handgun to resist arrest. He will appear at Wimbledon magistrates court on Monday.

The other six men have already been remanded in custody until October 23, when they will appear at Kingston Crown Court. All are facing charges of conspiracy to rob, and two of them are also charged with a firearms offense.

43 diamond rings, watches, and bracelets were taken from the store. The theft occurred when two armed and suited men walked in and took an employee hostage. It has been reported they used prosthetic masks made from liquid latex but police have not confirmed this. Amateur footage also shows a shot was fired. No-one was injured.

The robbery is one of the biggest the United Kingdom has seen. After the crime a string of getaway vehicles was used, with police believing several more offenders assisted with this stage of the plan. Although The Telegraph claims no stolen property has yet been recovered, this is also unconfirmed by police.

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Sweden’s Crown Princess marries long-time boyfriend

Monday, June 21, 2010

Sweden’s first royal wedding since 1976 took place Saturday when Crown Princess Victoria, 32, married her long-time boyfriend and former personal trainer, Daniel Westling, 36. The ceremony took place at Stockholm Cathedral.

Over 1,200 guests, including many rulers, politicians, royals and other dignitaries from across the world, attended the wedding, which cost an estimated 20 million Swedish kronor. Victoria wore a wedding dress with five-metre long train designed by Pär Engsheden. She wore the same crown that her mother, Queen Silvia, wore on her wedding day 34 years previously, also on June 19. Victoria’s father, King Carl XVI Gustaf, walked Victoria down the aisle, which was deemed untraditional by many. In Sweden, the bride and groom usually walk down the aisle together, emphasising the country’s views on equality. Victoria met with Daniel half-way to the altar, where they exchanged brief kisses, and, to the sounds of the wedding march, made their way to the the silver altar. She was followed by ten bridesmaids. The couple both had tears in their eyes as they said their vows, and apart from fumbling when they exchanged rings, the ceremony went smoothly.

Following the ceremony, the couple headed a fast-paced procession through central Stockholm on a horse-drawn carriage, flanked by police and security. Up to 500,000 people are thought to have lined the streets. They then boarded the Vasaorden, the same royal barge Victoria’s parents used in their wedding, and traveled through Stockholm’s waters, accompanied by flyover of 18 fighter jets near the end of the procession. A wedding banquet followed in the in the Hall of State of the Royal Palace.

Controversy has surrounded the engagement and wedding between the Crown Princess and Westling, a “commoner”. Victoria met Westling as she was recovering from bulemia in 2002. He owned a chain of gymnasiums and was brought in to help bring Victoria back to full health. Westling was raised in a middle-class family in Ockelbo, in central Sweden. His father managed a social services centre, and his mother worked in a post office. When the relationship was made public, Westling was mocked as an outsider and the king was reportedly horrified at the thought of his daughter marrying a “commoner”, even though he did so when he married Silvia. Last year, Westling underwent transplant surgery for a congenital kidney disorder. The Swedish public have been assured that he will be able to have children and that his illness will not be passed on to his offspring.

Westling underwent years of training to prepare for his new role in the royal family, including lessons in etiquette, elocution, and multi-lingual small talk; and a makeover that saw his hair being cropped short, and his plain-looking glasses and clothes being replaced by designer-wear.

Upon marrying the Crown Princess, Westling took his wife’s ducal title and is granted the style “His Royal Highness”. He is now known as HRH Prince Daniel, Duke of Västergötland. He also has his own coat-of-arms and monogram. When Victoria assumes the throne and becomes Queen, Daniel will not become King, but assume a supportive role, similar to that of Prince Phillip, the husband of the United Kingdom’s Queen Elizabeth II.

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Hedge Funds Can Do More Than Hedge Fund Type Mutual Funds

Hedge Funds Can Do More Than Hedge Fund-Type Mutual Funds

by

Shane Flait

Hedge funds use a variety of techniques to seek an absolute return no matter what the markets do. Their performance has instigated the birth of many hedge-type mutual funds. But SEC restrictions on mutual funds limit techniques that real hedge funds rely on for their high gains.

Hedge funds (HFs) are privately offered investments that use a variety of non-traditional strategies to try to offset risk and seek a high gain irrespective of market trends. HF managers use short-selling and a variety of financial derivatives to support their strategy. They may invest in non-traditional or illiquid assets, such as loans or private equity, distressed assets, or use arbitrage techniques to capitalize on merger opportunities or perceived incorrect valuations among closely related securities.

[youtube]http://www.youtube.com/watch?v=E8D8y15pNvs[/youtube]

That\’s why HF managers must be highly skilled – certainly in their investment leveraging specialty – and are highly rewarded for good performance. Typical hedge fund fees include a 2% management fee and a 20% take on profits. With such high fees, they have to produce high returns for their investors.

The Security and Exchange Commission (SEC) doesn\’t regulate hedge funds since HF investors are restricted in number and must be financially qualified to invest in a hedge fund.

Seeking to capitalize on the allure of hedge funds, \’hedge fund\’ type mutual funds have been created. But because mutual funds are regulated by the SEC, mutual fund (MF) managers are restricted from using some of the investment techniques that real hedge funds can use. For example, they can\’t use the same amount of leverage as a hedge fund and can\’t invest in thinly traded shares.

Nevertheless, MF managers of hedge-type mutual funds use active management to hedge more against downside risks. Their strategies can produce lower correlation with other asset classes which can make them a good diversification and risk management tool in changing market environments. But, alas, less leverage and risky trading make it difficult for such mutual funds to match the best-performing hedge funds.

Morningstar tracks many hedge-type mutual funds. And so far, they\’re more expensive than typical mutual funds – but still far less costly than a top hedge fund. A typical \’hedge-type\’ mutual fund has expenses of 1.5% to 2% annually. That\’s far higher than the average 1.35% for plain old mutual funds. But it\’s still far less than the 2% management fee and 20% profit take of a typical hedge fund.

If you\’re interested in a hedge-type mutual fund, check out its purpose to see how it can complement your other investment goals. It may offer a good diversification option among your asset allocations.

Shane Flait helps you with your financial legal, tax, and retirement goals. Get his FREE report on Managing Your Retirement =>http://www.easyretirementknowhow.com/FreeReportandSignUp.htmRead his ebook: \’Wise Way to Financial Independence\’ =>http://www.easyretirementknowhow.com/WiseWayGate.htm

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