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Monday, December 14, 2009

The government of Abu Dhabi in the United Arab Emirates has agreed to give US$10 billion to its neighboring emirate, allowing the state-owned Dubai World conglomerate to repay its immediate debt obligations. Dubai says more than $4 billion of the injection will be given to Dubai World’s property firm, Nakheel, to repay its Islamic bond that matures Monday. The remaining funds will go towards additional expenses.

News of the last-minute bailout caused Asian stocks to rebound and pushed European shares up, which saw gains for a third straight session. Markets in the UAE also rose, with Dubai’s index moving up by 10 percent and Abu Dhabi’s jumping by seven percent. Despite the good news, Algebra Capital Managing Director Dino Kronfol says Dubai is not out of the woods yet. “This is not something that is going to be resolved in a matter of weeks. It’s going to take some time,” Kronfol said. “It’s going to involve restructuring and we’ll have to see how that transpires. But nonetheless, this is a positive development today.”

The situation is completely different from just a few weeks ago, when Dubai World shook up global markets by asking for a standstill on its $26 billion debt. The government of Dubai made matters worse when it announced it would not guarantee the state-owned company’s bills.

Dubai World’s creditors still need to approve the standstill and effectively have until December 28 to make a decision. That is when the grace period of Nakheel’s bond ends. The government of Dubai has issued a new law allowing the conglomerate to file for bankruptcy if its restructuring is not successful. But Kronfol says, if the process focuses on necessary aspects, it will succeed.

“If the restructuring actually deals with Dubai’s contingent liabilities,” Kronfol said, “as a long-term solution, this actually really will help put the whole debt situation of Dubai behind us and really allow the markets to look more positively at 2010 and beyond.”

Government sources say Dubai World’s restructuring process could include asset sales, but they would be limited to the Nakheel and Limitless companies and not include Istithmar World, which owns U.S. Luxury retailer Barneys.

Wednesday, November 8, 2006

Wal-Mart Canada’s first three supercenters opened in Ancaster, London and Stouffville, Ontario.

The idea originally started in the United States in late 2005 and was announced that it would be arriving in Canada.

Flat screen TVs suspended from the ceiling will feature a television network, featuring fashion shows of Wal-Mart’s clothing lines, TV commercials featuring brands the retailer carries, and corporate messages.

With an expanded selection of electronics, hardware, home and housewares, the Wal-Mart supercentre could be compared to Future Shop, Home Depot, Home Outfitters, Shoppers Drug Mart, and Fortinos. The supercentre has wider aisles, higher ceilings, clear signage, and cash registers in selected departments such as electronics and clothing.

“Our goal is to become the one-stop shop for customers,” said Mario Pilozzi, chief executive of Wal-Mart Canada. “You see how fresh that is today? We are going to maintain that freshness in these stores.”

Wal-Mart’s Canadian supercentres are more sophisticated then their U.S. counterparts, because Canadian grocers have created higher expectations among the average consumer, company officials say.

However, Wal-Mart openings are controversial in many communities. Activists claim they can be detrimental to local economies, driving out locally owned businesses, lowering wages, and leading to suburban sprawl.

Wal-Mart already has plans to open fourteen new supercentres in 2007, of them Scarborough, Sarnia, Brampton and Vaughan will be early in the year.

Friday, November 6, 2009

Residents of the suburb of Minyama, Australia have come to a compromise with restaurant chain McDonald’s.

A 24 hour store was planned for the suburb but the fast food giant backed down agreeing that the store will only open overnight on Fridays and Saturdays. Every other day it will be open from five in the morning to eleven at night.

As part of the compromise, a walkway connecting the suburb’s main road to the residential area near the new McDonald’s has been closed off. “They will all be restricted to Nicklin Way,” said John Meyer-Gleaves, a spokesperson for protest group Say No To McDonald’s, referring to late night customers.

The group also managed to get a higher wall placed between the store and the residential area to cut noise and light pollution.

In December, Sunshine Coast Regional Council knocked backed the then-proposed store with mayor Bob Abbot expressing concern about its proximity to a residential area.

“I’m pretty sure I’m the only councillor who already has a 24-hour McDonald’s in my division, we have enough issues with that one, and this is overkill,” Councillor Chris Thompson, Division 4 in the Sunshine Coast Regional Council, had said about a 24 hour seven day a week store at Minyama.

The 24-hour McDonald’s in Councillor Thompson’s division, Mooloolaba, is part of a larger complex and does not back onto residential premises.

Sunday, April 4, 2010

Pakistani security forces, aided by artillery and tanks killed 38 Taliban insurgents today in two separate attacks near the Afghanistan border in the Orakzai district of the North-West Frontier Province of the country, according to government officials.

Security men say that Orakzai, located to the southwest of Peshawar, became a Taliban stronghold since the army led offensives against other Taliban areas in different parts of northwest Pakistan.

An army checkpoint in Sayd Khalil Baba village was attacked by militants early on Sunday. However, security troops killed 26 insurgents with artillery fire, according to Samiullah Khan, a senior administrative official in the area. Sajid Khan, another government official of Orakzai told the Reuters news agency that scores of militants attacked the checkpost in the village on Sunday morning. “They used rocket-propelled grenades, mortars and machine guns, but our soldiers’ response was quick and tough,” he added. Ten militants were wounded in this attack according to the latter, who is based in Kalaya, the district’s principal town.

Within hours, a military convoy was ambushed by Taliban attackers in an adjoining village. At least a dozen insurgents were killed in this attack, according to local authorities. Officials said only Pakistani soldier was injured in the attack. There was no confirmation of the figures provided by administrative officials available news agencies, as journalists are prohibited from entering the area.

Security officials claimed around 250 militants have been killed in several clashes in the Orakzai district. Pakistani Taliban leader Hakimullah Mehsud was believed to have control over this region. The latter is thought to have been killed in an U.S. drone strike in January this year.

Sunday, March 11, 2007 The Malta Labour Party (MLP) wins this year’s round of local elections, in which the turnout was 68 per cent, which could have been higher perhaps had it not rained all day yesterday.

The Malta Labour Party wins an absolute majority of around 53 per cent and the Partit Nazzjonalista (Nationalist Party) 43 per cent, with the rest of the votes going to Alternattiva Demokratika (AD) and independent candidates.

In 2004, the last time elections were held in the same localities, the MLP won 50.2 per cent of the vote, with the Nationalists securing 46.4 per cent and AD 1.5 per cent.

The elections held in one-third of Maltese localities, in 22 localities out of 69 localities. These localities are 16 in the island of Malta: Birgu (Città Vittoriosa), Qormi (Città Pinto), Siggiewi (Città Ferdinand), Attard, Birzebbugia, Floriana, Gharghur, Gzira, Hamrun, Luqa, Marsaxlokk, Mosta, Paola, Safi, Santa Lucija, Swieqi, and in 6 localities on the island of Gozo: Kercem, Munxar, Qala, San Lawrenz, Xaghra, and Zebbug (Gozo). The largest locality in this round is Mosta and the smallest locality is San Lawrenz.

According to the Maltese Ministry for Justice and Home Affairs, local council elections are held every three years, on the second Saturday of March.

Thursday, October 21, 2010

The new British coalition government has warned local authorities in the United Kingdom not to provide tax breaks to branches of the Church of Scientology. After an investigation by The Guardian newspaper revealed that several local authorities have granted Scientology tax breaks worth over a million pounds, Secretary of State for Communities and Local Government Eric Pickles intervened to urge councils to end the practice.

Pickles noted in a statement that Scientology was not officially recognised in the UK as a religion or a registered charity and was not eligible for tax relief. Pickles commented, “I do not believe the majority of the public would want their own council to be giving special tax breaks to such a controversial organisation.”

The minister’s intervention followed the disclosure by The Guardian that at least four local authorities have given Scientology lucrative tax discounts on branches in their areas. These included:

• The City of London Corporation, which gave an 80% tax exemption worth £1.3 million to the flagship Scientology centre in the City of London. The corporation justified the exemption on the basis that Scientology could be considered to be a charity either for the advancement of religion “or other purposes beneficial to the community”. It said that it feared being sued by the organisation if it discontinued the exemption.

• Westminster City Council granted 80% rates relief to the Scientology Celebrity Centre in the Bayswater district of London. This saved Scientology £165,303 over the past ten years, though as of July 2010 the centre is no longer in use. The council determined that Scientology was a “non-registered charity” that is “beneficial to the community”.

• Birmingham City Council awarded the Church of Scientology Religious Education College an 80% tax discount on the grounds that the property was an educational institution.

• The City of Sunderland gave the Church of Scientology’s branch in the city tax relief worth £30,000 over five years.

Camden London Borough Council refused to disclose whether and how much tax relief had been granted to the Scientology branch in the London Borough of Camden. Other local authorities, including Manchester City Council and Mid Sussex District Council, said that they charged Scientology the full commercial rate.

In response to The Guardian report, Eric Pickles issued a statement saying that Scientology should not receive privileged tax status and did not deserve to do so, “Tolerance and freedom of expression are important British values, but this does not mean that the likes of Church of Scientology deserve favoured tax treatment over and above other business premises. The Church of Scientology is not a registered charity, since the Charity Commission has ruled that it does not provide a public benefit. Nor are its premises a recognised place of worship. Councils may award charitable relief. They should take into consideration the Charity Commission’s rulings when weighing up whether to do so. I do not believe the majority of the public would want their own council to be giving special tax breaks to such a controversial organisation.”

The controversy was the latest in a series of disputes involving Scientology’s tax status in the UK. Scientology is not officially recognised as a religion. The Charity Commission for England and Wales rejected an application in 1999 by Scientology for charitable status, ruling that its activities did not meet the “public benefit” test. However, in 2000 Scientology obtained exemption from Value Added Tax (VAT) on the grounds that its services were educational and non-profitable. It successfully sued HM Revenue and Customs for the return of £8 million in overpaid VAT.

A spokesman for the Church of Scientology told The Guardian, “Scientology is very popular with those who have visited our churches, met with Scientologists and observed or utilised our numerous community activities that effectively address drug abuse, illiteracy, declining moral values, human rights violations, criminality and more. Local council authorities, government bodies in this country and many others, and the European court of human rights have all recognised the religious nature of Scientology or the fact that Scientologists are actively helping those in their communities as a direct reflection of their religious beliefs.”

Birmingham City Council told the local Sunday Mercury newspaper, “We have noted Mr Pickles’ comments and will take them on board.”

Sunday, December 7, 2008

Sunshine Coast, Queensland, Australia — The Sunshine Coast Regional Council has formally ratified the rejection of the 24 hour McDonald’s in Minyama. The decision comes after council rejected the proposal earlier this week at a general committee meeting.

McDonald’s forwarded an 11th hour compromise to deputy mayor Tim Dwyer in order to overturn the decision. The compromised had included reducing the opening hours to 6am to 10pm Sunday to Thursday and until 12am Friday and Saturday.

Local member of federal parliament Peter Slipper has said that any new development be given serious and honest consideration to the various potential impacts on the community.

“It is important that any new development, including fast food outlets, give serious and honest consideration to the various potential impacts of the project on the community. This is important as society strives to balance the need for development with the need to support the lifestyle choices and wishes of residents,” said Mr Slipper in an e-mail to Wikinews.

Local residents who had opposed the development had support from local councilor Chris Thompson. “We already have a 24-hour McDonald’s at Mooloolaba, only one kilometre away, and there are already [anti-social] issues at that site,” he said.

Councillors ratified the rejection unanimously. McDonald’s will now fight the decision in court.

Sunday, December 7, 2008

Sunshine Coast, Queensland, Australia — The Sunshine Coast Regional Council has formally ratified the rejection of the 24 hour McDonald’s in Minyama. The decision comes after council rejected the proposal earlier this week at a general committee meeting.

McDonald’s forwarded an 11th hour compromise to deputy mayor Tim Dwyer in order to overturn the decision. The compromised had included reducing the opening hours to 6am to 10pm Sunday to Thursday and until 12am Friday and Saturday.

Local member of federal parliament Peter Slipper has said that any new development be given serious and honest consideration to the various potential impacts on the community.

“It is important that any new development, including fast food outlets, give serious and honest consideration to the various potential impacts of the project on the community. This is important as society strives to balance the need for development with the need to support the lifestyle choices and wishes of residents,” said Mr Slipper in an e-mail to Wikinews.

Local residents who had opposed the development had support from local councilor Chris Thompson. “We already have a 24-hour McDonald’s at Mooloolaba, only one kilometre away, and there are already [anti-social] issues at that site,” he said.

Councillors ratified the rejection unanimously. McDonald’s will now fight the decision in court.

Friday, June 5, 2009

The Labour government of United Kingdom Prime Minister Gordon Brown received multiple blows this week after a spate of resignations from the cabinet and losses in local and council elections.

As of this morning, six ministers — Home Secretary Jacqui Smith, Communities and Local Government Minister Hazel Blears, Work and Pensions Minister James Purnell, Transport Minister Geoff Hoon, Employment Minister Tony McNulty and Defence Minister John Hutton — had all handed in notices of resignation from the cabinet as fallout from the Members’ expenses scandal spread.

Mr Purnell’s resignation included an admonition for Gordon Brown to step down as Prime Minister and allow the Labour Party to choose a new leader. In his letter of resignation, Purnell told the Prime Minister “I owe it to our party to say what I believe no matter how hard that may be. I now believe your continued leadership makes a Conservative victory more, not less likely.”

However, when John Hutton, a known critic of Brown who once predicted that Brown would be a ‘Fucking disaster’^[1], resigned he gave his full backing to the Prime Minister. “I firmly believe that Gordon Brown is the right man to lead our party and our country”.

Incoming results from Thursday’s local elections also show heavy losses for Labour, with the party in control of none of the councils which have yet declared results. The last Labour-run County councils — Lancashire, Staffordshire, Derbyshire and Nottinghamshire — were all lost. In Staffordshire there was a wipeout of Labour, going from 32 council seats to just three. Another telling figure was the result from St Ives in Cambridgeshire: Labour’s candidates placed last, behind the Official Monster Raving Loony Party‘s “Lord Toby Jug”.

While the results from the 2009 European Elections, which the United Kingdom also voted in on Thursday, will not be counted until Sunday, polling before the election indicated Labour’s share of the vote could be only the fourth largest, after the Conservatives, Liberal Democrats and UKIP.

Labour’s troubles have prompted the Prime Minister to re-shuffle his cabinet, with Health Minister Alan Johnson becoming the new Home Secretary. His role of Health Secretary was taken by Andy Burnham. Tony Blair’s former spin doctor Peter Mandelson taking an expanded portfolio along with Gordon Brown’s own former title of First Minister.

Staying in their positions are Jim Murphy, the Scottish Secretary, Jack Straw, the Justice Secretary and Ed Balls, the Children, Schools and Families Secretary. Peter Hain, who resigned from the government last year returns as Welsh Secretary. Ben Bradshaw becomes the new Culture Secretary. Lord Adonis has become the new Transport Secretary, meaning that there are now two Lords in charge in major spending Government departments, and three Peers in the Cabinet. This has caused some controversy for Brown.

Drawing from the business world, Sir Alan Sugar, the hard-nosed tycoon who hosts the UK’s version of The Apprentice, has been appointed as ‘enterprise Tsar’.

There are now just three full members of the Cabinet who are women: Yvette Cooper, Baroness Royall and Harriet Harman.

Despite the setbacks, Brown said at a press conference this evening that he would “fight on” and rejected calls to step aside, saying “I have faith in doing my duty… I believe in never walking away in difficult times.”

However, even after such a dramatic day the bad news kept on coming for Brown. Caroline Flint, hitherto the Europe Minister resigned from government, attacking Brown’s use of female politicians as “female window dressing”. She accused Brown of running a “two-tier” government with an “inner” cabinet circle. Later Geraldine Smith, the Labour MP for Morecambe and Lunesdale criticized Flint saying “She should have counted to ten before she wrote that letter”.