Wednesday, April 25, 2012

According to Israeli Prime Minister Benjamin Netanyahu, the termination of a natural gas contract between Egypt and Israel is a business matter and not a political issue between the two counties. Netanyahu’s statement on Monday backs away from other officials’ earlier responses to the action.

Egyptian Natural Gas Company announced Sunday, April 22 that it will stop supplying Israel with natural gas over a disagreement about payments. The company’s leader claims the other side is in “breach of contract” as Gasco has not been paid for what has already been delivered.

In 2005, Israel and Egypt, under former president Hosni Mubarak, signed a 15-year trade deal whereby Egypt would supply natual gas at a discounted rate to the Israelis. Tensions between the two countries have made Israel cautious about relying on Egypt for its energy. Since the 2011 Egyptian revolution, the pipelines for transporting natural gas from Egypt to Israel have been damaged up to 14 times.

When this decision was broadcast on Sunday night in Egypt, commentators for Egyptian news services discussed whether this decision was a blatant contractual infringement, a necessary commercial move, or an attack on the original peace treaty between Egypt and Israel made at Camp David in 1978.

In Israel, Yuval Steinitz, the finance minister, said, “This is a dangerous precedent that diminishes the peace treaty [between the two countries].”

Avigdor Lieberman, foreign affairs minister, had called on Egypt to reverse the decision and prevent the contractual dispute from escalating into a political issue. Since Netanyahu’s more recent comment, Lieberman has also backed away from characterizing the issue as a political dispute.

Egypt’s natural gas exports once made up 40 percent of Israel’s natural gas reserves, but Israel has looked for other options as the political atmosphere in Egypt changed. Israel is developing its own offshore fields, and it has begun to import other types of “dirty fuels,” like gas and diesel. As a result, Israeli consumers have seen a nine percent increase in electricity costs and Israel is preparing for the possibility of blackouts.

Thursday, February 7, 2008

Croatia’s sea and transport ministry said the UND Adriyatik, a Turkish freight ship caught fire in the Adriatic Sea 13 nautical miles west of the town of Rovinj on the early morning hours of February 6, 2008. An SOS was launched at 4.04 local time. It said that the 193-metre long ship was sailing from Istanbul in Turkey to Trieste in Italy and was carrying 200 trucks and nine tons of dangerous material, in addition to between 100 and 200 tons of ship fuel, causing fears of environmental damage. An official said Croatian fire-fighting planes and ships were trying to extinguish the blaze. As the fire started inside the ship, there was no way of extinguishing it from the outside. The ship’s 22 crew members and nine passengers were rescued by the Greek ship Ikarus Palace that was sailing nearby and were on their way to Venice.

There were fears of an explosion if the fire was to reach the fuel tanks. Also, the water currents were pushing the ship towards the Croatian coast. However, reports said the fire was diminishing by the end of the day.

Thursday, March 22, 2018

On this Sunday, Sydney, Australia experienced its hottest March day in 35 years. Temperatures reached 40.5°C at Sydney Airport. This followed the two hottest March months in 1983 and 1965 whose maximum temperatures were 41.2°C and 41.1°C respectively, according to post-1940 climate data provided by Australian Bureau of Meteorology (BOM). The hot temperatures were caused by north-westerly winds which brought heat from the inside of the continent.

At the beaches any sea breeze was countered by north-westerly winds, and beach-side areas experienced 39°C. BOM reported NQ and NNW winds 20km/h to 40km/h with 40-60km/h gusts.

BOM recorded maximum temperature of 40.5°C at Sydney Airport (AP) weather station, Weatherzone reported. Wikinews obtained data from BOM that contained maximums for every 10 minutes that confirmed the maximum between 15:30 and 15:40 on the day. Wikinews also observed the temperature of 40.7C via a weather station at a residential property at 17:50 Sunday afternoon.

The present record occurred on March 18, more than a week later than the 1965 and 1983 records that had happened on the March 6 and March 9 respectively, according to the climate data published online at the BOM website.

On the hot Sunday, an out-of-control bushfire took place in Tarraganda and Tathra near Bega, southeast New South Wales. The bushfire damaged “dozens” of homes and crossed the Bega river on Sunday afternoon, The Guardian reported. New South Wales Rescue Fire Service issued an emergency warning to residents in Tathra, advising people to seek shelter.

NSW Fire Rescue Service declared total fire bans and fire weather warnings in 11 areas of the state: Greater Sydney, Greater Hunter, Illawarra/Shoalhaven, Far South Coast, Monaro Alpine, Southern Ranges, Central Ranges, North Western, Lower Central W Plains, Sthn Slopes and the Eastern Riverina.

Tuesday, August 23, 2011

A former Marsh & McLennan Cos. executive has hit former New York Governor Eliot Spitzer with a $60 million defamation lawsuit over an online magazine article regarding an insurance bid-rigging scandal.

William Gilman, a former Marsh managing director, filed a complaint last Friday in the U.S. District Court in Manhattan, over allegations Mr. Spitzer defamed him in a Slate article published a year ago. A copy of the complaint was made public on Monday.

Gilman, who had a final insurance fraud charge dismissed in January, said Spitzer acted with “actual malice” by suggesting that he was guilty of crimes of which he was never accused.

Although he wasn’t named in the article, Mr. Gilman complained that Spitzer defamed him by writing that “Marsh’s behavior was a blatant abuse of law and market power: price-fixing, bid-rigging and kickbacks all designed to harm their customers and the market while Marsh and its employees pocketed the increased fees and kickbacks.”

“While Mr. Spitzer’s statements do not refer to Mr. Gilman by name, Mr. Gilman is readily identifiable as the subject of the defamatory comments,” said the complaint. “Mr. Spitzer was well aware of his own allegations as attorney general and the resolution of those allegations in favor of Mr. Gilman and yet, recklessly disregarded these facts.”

In 2004 Mr. Spizter, then the state’s Attorney General, announced an investigation into the practices at Marsh & McLennan, particularly fees paid by insures to brokers who place business with them. Gilman, who worked for the company at the time, was charged in 2005 with 37 counts of insurance fraud. Gilman’s final charge was dropped last January.

“I haven’t seen the lawsuit and so will not comment on it,” said Spitzer. “The illegalities rampant at Marsh & McLennan leading to their fine of $850 million and the multiple judicial findings of illegality are clear from the public record.”

Mr. Gilman is now seeking at least $10 million in compensatory damages; $20 million in general damages, including damage to his reputation; and $30 million in punitive damages.