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Monday, January 24, 2005

Riga, Latvia — The Central Bank of Lithuania announced that it plans to adopt the common European currency, the euro in 2007, and replace its national currency, the litas.

Lithunia intends to introduce the use of the euro as an official currency on January 1, 2007, where it will be used alongside the litas until January 15. From January 15, the euro would become the only official means of payment.

Lithuania joined the European Union in 2004, and like the other new member states, it is obliged to adopt the euro when it is ready. However, in order to adopt the euro, a country must be part of the EU’s Exchange Rate Mechanism II (ERM II) for at least two years. During that time, the currency must not fluctuate more than 2.25% in relation to the euro. Additionally, the budget deficit should be under 3% of gross domestic product.

Lithunia became part of ERM II in June 2004, meaning that the earliest it could join the euro would be in June 2006. However, its target is 2007, which, at the present moment, seems to be achievable, considering the country’s low inflation and budget deficit. The litas has been pegged to the euro, since February 2002, at a rate of 1 euro = 3.45 litas.

So far, only 12 out of the 25 members of the European Union have adoped the euro. However, in the next decade, it is expected that most, if not all, of the ten new member states will adopt the currency. Lithuania is expected to be the first to adopt the currency, in 2007. Estonia and Slovenia, which are the only other new member states that are part of ERM II, are also expected to join the common currency at this time.

Larger countries like Hungary, Czechia and Poland, which are not yet part of ERM II, may have to wait until 2010 at least, due to their large budget deficits.

Lithuania has been one of the most enthusiastic new member states concerning European integration. Besides its early adoption of the euro, it was the first country in the EU to ratify the European Constitution.

Wednesday, July 21, 2021

Wikinews correspondent J.J. Liu spoke with Technological University Dublin (TUD) senior lecturer at the School of Surveying & Construction Management, Dr Lorcan Sirr on Friday regarding the supply of housing in the Republic of Ireland and relevant parallels across the rest of Europe, as well as recent developments by the government and private sector that are causing a rise in rents and home prices in the Irish real estate market.

Dr Sirr is a regular contributor to The Irish Times and has provided commentary to Irish radio station Newstalk, national broadcaster Raidió Teilifís Éireann (RTÉ) and various other publications. In addition to being a chartered planning and development surveyor and assessor to the Society of Chartered Surveyors, Dr Sirr is a Peace Commissioner and former external examiner for the Galway-Mayo Institute of Technology, according to his profile on Worky.

Dr Sirr was a lecturer and former head of research for the Faculty of the Built Environment at the Dublin Institute of Technology, which entered a merger with two partner institutes to become TUD January 1, 2019. He received his bachelor’s degree in estate management at the University of Greenwich, United Kingdom, and master’s degree in urban design and PhD in town planning at the University of Manchester. He has a second master’s in literature from KU Leuven, Belgium, and speaks French.

Saturday, October 23, 2021

China property giant Evergrande Group wired USD83.5 million in interest owed in an offshore bond from September 23 on Thursday, temporarily averting default, according to a Reuters source and Chinese newspaper Securities Times.

The wire to a Citibank fiduciary account following a 30-day grace period came after assurances by various members of the Chinese government, Reuters reported. At a Beijing forum Wednesday, Chinese Vice Premier Liu He described the risks as controllable, and chairman of the China Securities Regulatory Commission Yi Huiman said that while authorities needed to curb excessive debt more broadly by “improv[ing] the effectiveness of the constraint mechanism on debt financing”, the matter would be dealt with properly.

Once China’s top real estate developer, Evergrande had accumulated approximately USD305 billion in liabilities, two per cent of the Chinese gross national product, after “dwindling resources” cut its value by 80%, according to Reuters. September data revealed Chinese home sales by value fell by nearly 17% year-on-year, according to The Guardian, and fears over its default led to a slowdown in China’s third quarter GDP growth to a year low of 4.9%. Two sale negotiations with rival developers Hopson Development and Yuexiu, valued at USD2.6 billion and USD1.7 billion, respectively, were suspended, reportedly due to a lack of consent by the government of Guangdong province currently overseeing Evergrande’s restructuring.

News of Evergrande’s remittance caused its shares to rise by as much as 7.8% this morning after a two-week pause in trading for the anticipated sale of 50.1% in Evergrande Property Services Group, and offering some reprieve for bondholders, according to Reuters. Portfolio manager at GaoTeng Global Asset Management James Wong, interviewed by The Guardian, called the news “a positive surprise”, adding “[i]f Evergrande pays this time, I don’t see why it won’t pay the next time.” Jun Rong Yeap for IG Asia pte., interviewed by Bloomberg, said the report “overturned” the narrative “that Evergrande will face difficulty in securing cash ahead”.

Further missed payments are due October 29 and November 11 after similar 30-day grace periods; including yesterday’s USD83.5 million, nearly USD280 million is owed to bondholders.

Stocks have been down for many major Chinese developers: Reuters Wednesday reported year-to-date stock prices fell 87.8% for Sinic Holdings, currently in Fitch Ratings’ ‘restricted default’ after failing to make an October 18 bond payment valued, according to The Guardian, at USD246 million; 80.2% for Evergrande itself; 78.3% for E-House, 58.5% for Fantasia Holdings and 54.6% for Kaisa Group, which defaulted in 2015 and had bonds reach record lows.

Estimates of the Chinese real estate market’s size range from 16 to 25% of the Chinese gross domestic product, according to The Guardian. Chinese President Xi Jinping’s aim to transform the country’s economy from one of debt-fuelled “inflated” growth to one of improved “quality and returns” included imposing regulations on developers that limited their capacity to borrow. A Guardian comment piece from economist George Magnus published on October 15 made reference to China’s “ghost cities” and “rampant credit creation” that has given rise to high vacancy rates and the “financialisaton of housing”.

Thursday, May 25, 2017

On Tuesday, British actor Roger Moore, best known for portraying Simon Templar of the 1960s series The Saint and the spy character James Bond, died in Switzerland at the age of 89.

Before his death, Moore fought recently diagnosed cancer. His family confirmed his death on Twitter saying, “It is the heaviest of hearts, we must share the awful news that our father, Sir Roger Moore, passed away today. We are all devastated.”

Other stars paid tribute to Roger Moore via Twitter, including Russell Crowe, Michael Ball, Mia Farrow, Boy George, and Duran Duran, who sang the eponymous theme song for Bond film A View to a Kill featuring Moore as Bond.

Moore was born in Stockwell, South London an only child to his working-class parents on October 14, 1927. During World War II, he and his mother mostly stayed in Amersham, 25 miles from London. Moore left grammar school in 1943 to work.

Moore’s father, a detective sergeant, came to the home of film director Brian Desmond Hurst that had been robbed. Moore was introduced by his father to Hurst and then started his acting career in summer 1944 as an extra in the film Caesar and Cleopatra. Impressed, Hurst helped Moore gain extra parts in two other films and then paid for Moore’s acting studies at the Royal Academy of Dramatic Arts.

Moore was assigned to the National Service in 1945 and then, after training, was ranked captain. Afterwards, he appeared in modeling engagements, like appearance in Women’s Own magazine.

Moore arrived in the United States in 1953 and then signed a contract with Metro-Goldwyn-Mayer (MGM) for mainly supporting roles. He portrayed the male lead in 1956 film Diane. He first appeared on television as the titular character of the late-1950s ITV series Ivanhoe. He later appeared in some western series, like Maverick from 1960 to 1961, replacing James Garner as the lead of the series.

Moore then portrayed Simon Templar, stealing from rich antagonists, in the ITV series The Saint. The series ran 118 episodes from 1962 to 1969. Due to his contract for The Saint, Moore was prevented from being cast as James Bond for the 1962 film Dr. No, which stars Sean Connery, the first actor to portray Bond.

Moore eventually became the third actor to portray Bond, and his first Bond film was the 1973 film Live and Let Die. He would appear again as Bond in six more films: The Man with the Golden Gun, 1974; The Spy Who Loved Me, 1977; Moonraker, 1979; For Your Eyes Only, 1981; Octopussy, 1983; and A View to a Kill, 1985.

In 1991 Moore became a UNICEF goodwill ambassador. His UNICEF work earned him Commander of the Most Excellent Order of the British Empire (CBE) in the late 1990s. He was knighted in 2003 for that.

Throughout 2000s, Moore performed voiceovers in mostly animated films and made appearances in some other live-action films, like the 2002 film Boat Trip, portraying a gay man resembling Bond. Then he wrote his 2008 autobiography My Word Is My Bond and other books, including memoir One Lucky Bastard and Bond on Bond.

Moore married four times, to four different women. He was survived by his fourth wife, Danish-Swedish multimillionaire Kristina “Kiki” Tholstrup, and his three children.

Monday, May 21, 2012

Bruce, Canberra — This past week, an overstocked Australian Opals, the women’s national basketball team, prepared for the 2012 Olympic Games in London with a weeklong training camp at the Australian Institute of Sport (AIS) to be used to help narrow the nineteen member Opals squad down to the twelve that go to the Games, and provide players who rarely play together an extended period of time to play together in order to improve on court dynamics.

Camp started on Sunday, with players arriving from hometowns around Australia including Cairns, MacKay, Gladstone, Brisbane, Adelaide, and Melbourne.

The defending champions, the United States women’s national basketball team, are perceived as the Australian Opals’ main competitors. In the last three Olympic Games the Opals got silver medals. In each of these cases the United States got first place. Coach Carrie Graf said “thinking about the US too soon in inappropriate”, “Our focus is first and foremost, game by game winning our pool”. Amongst the Australian Opals’ competitors in the pool are Brazil, Russia, and Great Britain. Carrie Graf said Great Britain “will put up a fight on home turf” but there is a “world class [AIS] facility” and “world class medical support staff” supporting the team.

Australian Opal player Penny Taylor recently suffered injury from a torn anterior cruciate ligament, meaning she cannot play Olympics this year. In regards to the situation player Lauren Jackson, who is going into her fourth Olympics, said “you would never wish that upon anybody.” She says as a team they have to “move on, move through that” and “come together” to pick up their offence and defense. Despite the loss of one of their key players she says “we definitely have the talent there” and the team is all “on the same page.” She feels “pretty confident” and speaks of “very exciting” times ahead. Jenna O’Hea is going into her first Olympics with the team. She is still “pinching” herself and says she is taking it “day by day”.

A typical day at the camp might start with a 7.00am – 8.30am breakfast at the AIS Dining hall, before one and a half or two hours of court, gym, or swimming training. The middle of each day might consist of media meetings, medical checks, team meetings, and time to practise shooting. Around 12.00pm, the players meet to eat lunch and recover from the morning. The afternoon typically consists of more training, and some scrimmage games. Players usually finish around 7.00pm for dinner, and perhaps a massage.

The nineteen players in attendance this week at training camp were Suzy Batkovic, Abby Bishop, Elizabeth Cambage, Rohanee Cox, Cayla Francis, Kristi Harrower, Laura Hodges, Natalie Hurst, Lauren Jackson, Rachel Jarry, Kathleen MacLeod, Jenna O’Hea, Samantha Richards, Jennifer Screen, Belinda Snell, Marianna Tolo, Kristen Veal, Carly Wilson, and Hanna Zavecz. Basketball Australia has named fifteen players that are to attend the second phase of the camp: Suzy Batkovic, Abby Bishop, Elizabeth Cambage, Kristi Harrower, Laura Hodges, Lauren Jackson, Rachel Jarry, Kathleen MacLeod, Jenna O’Hea, Erin Phillips, Samantha Richards, Jennifer Screen, Belinda Snell, Marianna Tolo, and Hanna Zavecz.

Saturday, January 26, 2008

A 16-year-old male from Novato, California has been arrested in Tennessee over allegations he intended to hijack a commercial passenger airliner in the United States.

The boy, who was unnamed due to his age, was a passenger on board Southwest Airlines Flight 284 from Los Angeles to Nashville on Tuesday, with his parents reporting him missing at 11:30 am the same day. Although he remained calm throughout the flight and made no hijacking attempt, authorities report he had handcuffs, duct tape and yarn inside the aircraft cabin with him. Although his arrest was only made public on Friday, it is reported that he was detained immediately on reaching Nashville International Airport.

George Bolds, a spokesman for the Federal Bureau of Investigation (FBI) said that the items were “suspicious” and that the boy had informed the FBI he had indeed intended to hijack the aircraft. An FBI agent told reporters that he felt the plot was ill-conceived, saying “His plan had a low probability of success.”

The FBI also conducted a search of his home on Thursday, finding in his room “a photograph of the inside of a small aircraft, something you’d find in a bookstore.”

Subsequent to his arrest he pled guilty on Friday to a “delinquent act,” according to local officials. A juvenile court judge ordered him to be returned to California for continued perusal of that charge as well as others set to be made. He is currently in Davidson County Juvenile Detention Center in Nashville.

Authorities believe that the teen was suicidal, but the FBI dismissed earlier reports alleging that he intended to crash the airliner into a Hannah Montana concert in Lafayette, Louisiana.

Wednesday, September 6, 2006

The American Academy of Pediatrics (AAP), in the September 2006 issue of its journal Pediatrics, supports the use of dairy by lactose intolerant children.

Dr. Melvin B. Heyman, author of the article, says that just because a child is lactose intolerant, does not mean that they should avoid dairy altogether. Many lactose intolerant people can consume small amounts of dairy.

Heyman says that dairy consumption is important, especially for children, because of its high calcium content. The calcium is, in turn, important for stengthening growing bones. “If dairy products are eliminated,” the article says, “other dietary sources of calcium or calcium supplements need to be provided.”

Lactose intolerance is a condition, present in the majority of human population above the age of infancy, due to which the body cannot tolerate lactose, a sugar present in milk and other dairy products. Lactose intolerance causes a range of unpleasant abdominal symptoms, including stomach cramps, bloating, flatulence and diarrhea.

As lactose intolerance is inherent, its prevalence varies by ethnic group. For example, while only 12% of American Caucasians have it, its prevalence is 75% among African Americans, 93% among Chinese, 60%-80% among Ashkenazi Jews,and 100% among American Indians. Many people do not realize that they have this condition simply because they have eaten dairy all their lives and view the symptoms of lactose intolerance as “normal”.

Physicians Committee for Responsible Medicine (PCRM) has long stated that the risks of consuming dairy far outweigh the benefits. According to PRCM’s fact sheet, called “Parents’ Guide to Building Better Bones”, there are many healthy ways of getting enough calcium and promoting bone health. Many foods contain calcium, not just dairy. Also, it is important to consider the amount of calcium absorbed, not just the amount of calcium present in a food. For example, more than three times as much calcium is absorbed from one serving of Total Plus cereal as from one serving of 2% milk.

PCRM promotes a strictly vegetarian diet. Despite its name, it claims only 5 percent of its members as physicians. PCRM has also been accused of having links with animal rights “extremists”, in particular Jerry Vlasak, a former PCRM spokesman who called for the murder of scientists who use animals in research.

The report in News-Medical.Net says that Ann Marie Krautheim, with the National Dairy Council, a dairy lobbying group, says

she hopes the report will educate parents on how to continue to include dairy in the diets of children sensitive to lactose and also help improve their nutrient intake. Krautheim says calcium-fortified beverages and other foods which seek to provide an alternative source of calcium, do not provide an equivalent nutrient package to dairy foods such as milk, cheese and yogurt.

This last statement, however, that dairy products are superior to calcium-fortified foods, is not supported by the article in Pediatrics.