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Tuesday, July 3, 2007

New currency notes are being introduced in Ghana today. The new currency, to be called the Ghanaian cedi, replaces the previous cedi which has been in circulation since 17 February, 1967.

The Ghanaian cedi will be exchanged at 10,000 old cedis to one new Ghanaian cedi. The exchange rate against the U.S. dollar starts at GH¢0.92 to one U.S. dollar. The new ISO code for the currency is GHS, and the new symbol, GH¢.

The change, which was originally scheduled by the Bank of Ghana to start on July 1, 2007, will instead start on Tuesday July 3, as the original date is Ghana’s Republic Day.

Monday, July 2, was declared a public holiday as the actual Republic Day fell on a Sunday. July 3, is thus the first day that the currency will be available to the public as banks open to the general public. This is because ATMs were shut down over the weekend so that the currencies could be checked and replaced in all of them nationwide. The old and new currencies will be used concurrently until the end of December 2007, when the old currency will cease to be legal tender.

This is the third Ghanaian cedi to be introduced in the country since 1965.

A compilation of brief news reports for Monday, February 5, 2007.

Sunday, February 18, 2018

On Thursday, Phil Scott of Vermont became the fourth governor in the United States to sign an executive order requiring all companies providing Internet access to state agencies to abide by net neutrality for all customers in his state. He said he did this because Vermonters rely on Internet access without blocking, throttling and paid prioritization, threatened by the December 14 decision of the US Federal Communications Commission (FCC) in the matter of “Restoring Internet freedom”. The first state governor to challenge the FCC in this way was Steve Bulllock of Montana, who did so on January 22. Andrew Cuomo of New York followed two days later. Philip Murphy of New Jersey signed a similar executive order on February 5. These four executive orders differ in details, but all require that state agencies purchase Internet access services only from companies with an enforceable commitment to net neutrality for all customers in their state.

This is part of a flurry of state-level net neutrality actions. The New York State Assembly introduced bill A01958 on January 17, 2017, three days before the inauguration of Donald Trump as President of the United States, anticipating action by him to overturn the 2015 “Title II Order” that made net neutrality enforceable in the US. Two other bills were introduced into the Washington House of Representatives in the ten days before the official decision of Trump’s FCC on this issue. In addition to these, 63 other state-level responses by net neutrality supporters were documented by Fight for the Future (FFTF) by February 16, 2018, including at least 27 bills introduced into the legislatures of 17 states with others reportedly under consideration.

These bills are in addition to the lawsuit filed on January 16 by the Attorney General of New York on behalf of 21 states and the District of Columbia claiming this FCC decision was “arbitrary, capricious, and an abuse of discretion within the meaning of the Administrative Procedure Act” (APA) of 1946 and other grounds. These states were New York, California, Connecticut, Delaware, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Mississippi, New Mexico, North Carolina, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington state. New Jersey reportedly later committed to join the suit.

These four executive orders are the only actions on FFTF’s list of actions by net neutrality supporters that seem immediately enforceable. All others require approval by democratic bodies. The four executive orders might be challenged in courts as conflicting with “Preemption authority” claimed by the US Federal Communications Commission’s “Declaratory ruling, report and order” adopted December 14 and released January 4. The FCC order was described by dissenting Commissioner Clyburn as “Destroying Internet Freedom” rather than “Restoring Internet Freedom” as the order is titled. She wrote that this order “will put profits and shareholder returns above what is best for” consumers.

Tuesday, January 1, 2008

Today at midnight, the Republic of Cyprus and the Republic of Malta, both small island states in the Mediterranean and former British colonies, adopted the euro as their official currency; less than four years after their accession to the European Union. Because Cyprus and Malta are in different time zones, Cyprus adopted the euro one hour before Malta did the same. In both countries the euro was welcomed with outdoor celebrations, including a fireworks display in Malta’s capital Valletta. According to the BBC Cypriot Finance Minister Michalis Sarris has said the euro “will benefit consumers and businesses alike because of the eurozone’s low inflation, low interest rates and large market.”

The BBC reports that Cypriot and Maltese leaders “made symbolic withdrawals of euros from cash machines just minutes into the New Year.” TIME reports that Maltese Prime Minister Lawrence Gonzi had to wait a little while before getting his hands on the new currency because “an automated teller machine did not work when Gonzi tried to withdraw euros, and he was obliged to use a different ATM.”

The Cypriot pound (CYP) and the Maltese lira (MTL) will remain in use during a dual circulation period that will last until the end of this month, at which point they will cease to be legal tender. However, it will still be possible to exchange them for Euro free of charge after the end of this period. Commercial banks in Cyprus will exchange Cypriot pounds for Euro until 30 June, but only for amounts up to CYP 1000 per customer and per transaction in banknotes and up to CYP 5O in coins. The Central Bank of Cyprus will exchange coins until the end of 2009 and banknotes until the end of 2017. Maltese commercial banks will exchange Maltese lira for Euro until the end of March, with a limit for non-customers of MTL 250, whereas the Central Bank of Malta will exchange coins until 1 February 2010 and banknotes until 1 February 2018.

The single currency has replaced the Cypriot pound and the Maltese lira at a rate of one euro to 0.585274 Cypriot pound and 0.4293 to the Maltese lira, or 1.71 euro per Cypriot pound and 2.33 per Maltese lira. This conversion rate had been fixed on 10 July 2007 by Ecofin, the council comprising the finance ministers of the EU Member States.

Cyprus and Malta are the 14th and the 15th country to join the Eurozone, which already includes Austria, Belgium, the Netherlands, Finland, France, Germany, Ireland, Italy, Luxembourg, Portugal, Spain, Greece and Slovenia. All EU Member States are required to join the Eurozone once certain conditions are fulfilled, except Denmark and the United Kingdom which have negotiated a so-called opt-out that allows them not to adopt the single currency.

The Turkish Republic of Northern Cyprus, the de facto independent Turkish-controlled area in the north of Cyprus, will not join the Eurozone. Northern Cyprus is not part of the European Union and is recognised only by Turkey. As a result, the Turkish lira will remain the official currency in the north of the island; however, TIME reports that “many Turkish Cypriot merchants will also accept euros along with Turkish lira.” Cypriot Euro coins are inscribed in both Greek and Turkish.

The euro will also be legal tender in the Sovereign Base Areas, British military bases in Cyprus.

The national sides of the Cypriot Euro coins feature three separate designs for the three series of coins. The 1, 2 and 5-cent coins feature the mouflon, or wild sheep, the 10, 20 and 50-cent coins feature the Kyrenia ship, the wreck of a 4th century BC Greek merchant ship discovered in 1967 and salvaged closed to Kyrenia, and the €1 and €2 coins feature the Idol of Pomos, a prehistoric sculpture from the village of Pomos, three national symbols of Cyprus. The designs were jointly created by Tatiana Soteropoulos and Erik Maell.

The Maltese euro coins’ national sides will also feature national motifs. The 1, 2 and 5-cent coins will feature the altar of the Mnajdra temple grouping, a complex of three Neolithic temples on the southern coast of Malta and one of the oldest free-standing temple groupings in the world, the 10, 20 and 50-cent coins will feature the Coat of Arms of Malta, and the €1 and €2 coins will bear the Maltese cross, a symbol associated with an order of Christian warriors known as the Knights Hospitaller or Knights of Malta, which was based on Malta for more than 250 years after they had been given the islands by Charles V, Holy Roman Emperor. The designs of Maltese engraver Noel Galea Bason were selected after two rounds of public consultations in which people were invited to vote via SMS.

Both Cyprus and Malta have taken a number of steps to address fears of undue price rises. 7,130 Cypriot companies have subscribed to a Fair Pricing Code launched by the authorities and the Cypriot government urged companies to round their prices down. In Malta, the FAIR initiative, a fair pricing scheme, was put in place in January 2007. This scheme, which provides for administrative fines for those failing to respect their commitment, now involves 80% of all retail outlets. Malta, according to the BBC, has also signed 12 price stabilisation agreements with importers, which will last until March 2008.

In both countries, the authorities will monitor retailers to ensure they do not exploit the changeover for unfair gain by rounding up their prices, contributing to inflation.

Monday, December 8, 2008

More details have emerged over the weekend after the surprise announcement last week of Honda‘s intention to sell its Formula One racing team, Honda Racing F1. The team management, Nick Fry and Ross Brawn, have already announced confidence in their ability not only to find a buyer for the team but also to deliver the performance expected of Honda’s 2009 car. Prices as low as £1 have been put forward as possible prices tags for the Northampton based team, with Honda CEO Takeo Fukui stating that “Just to make the team possible to exist, a small price tag is acceptable”.

On Saturday the Japanese car giant said that before selling the team it was going to offer British driver Jensen Button, who had given the Honda team its only victory, a way out of his recently signed multi-million pound contract with the team so he could try to get a drive with other teams. However, Ross Brawn appears eager to retain the Briton and either retain Brazilian Rubens Barrichello or sign GP2 driver Bruno Senna, nephew of legendary racer Ayrton Senna. At an industry awards dinner, Button indicated his desire for a buyer to be found for Honda, saying any buyer would get “… a great team with excellent facilities. And with the leadership of Ross Brawn, and the whole team as they are, we can come through this and be on the grid in 2009”. Button has also spoken of his shock and pain at Honda’s decision.

Ross Brawn, who was brought into the Honda team with much fan fare before the 2008 season, has spoken of his shock at finding out about the sale of the team. Brawn, who is credited with helping Michael Schumacher and Ferrari dominate Formula One for much of the last decade, indicated he was expected funding cuts and had prepared a reduced budget but hadn’t expected the full withdrawal of support that Honda announced. Brawn has also indicated understanding of Honda’s reasoning, with their sales down 40% in some markets and Honda F1’s £200m+ budget a cost they were unwilling to bear.

Though Honda has committed to providing a budget for the team until March, the budget is lower than that which had been expected and so the team has had to pull out of the crucial winter tests at Jerez. This has denied Formula One hopeful Bruno Senna another test with the team and has combined with the engine implications of Honda’s withdrawal to push the new car’s final testing from January to March, just weeks before the first Grand Prix in Australia. Ross Brawn however remains confident of competing with new Formula One frontrunners BMW Sauber and Formula One supremo Bernie Ecclestone has tipped the team as a great buy, saying “I’ve no doubt Honda would have been in top four next year without any problems. They’ve spent a lot of money to put themselves in that position so if anyone does want to be in F1 this is a team they should look to buy. It’s a big opportunity for any company that’s run efficiently to benefit”.

Wednesday, January 18, 2006File:Greenpeace Vessels Esperanza and Arctic Sun.jpg

Anti-whaling protesters have joined forces across Australia, Canada, Germany, New Zealand, and the U.S.A calling for an end to the killing of whales for meat by Japan. Greenpeace organised the international day of action as it continued its efforts to disrupt the hunting of minke whales by the Japanese whaling fleet currently in the Southern Ocean.

The day of action was being marked to protest the actions of the fleet which protesters believe violate the 1986 International Whaling Commission (IWC) global ban on commercial whaling. Japan’s JARPA Japanese Whale Research Program was allowed to operate under a Special Permit in the Antarctic according to Article VIII of the International Convention for the Regulation of Whaling. In its JARPA-2 plan, Japan plans to double its annual scientific research catch of Minke whales to 935, and to add 10 Fin whales to its quota. The International Fund for Animal Welfare states that over the next two years, Japan plans to kill 50 endangered Humpback whales and an additional 40 fin whales.

Tuesday, February 15, 2011

Prince William of Wales has selected his brother Prince Harry to be the best man at his wedding. The announcement was made by a spokesman at St James’s Palace. It has also been revealed that Prince William’s fiancée, Kate Middleton, has asked her sister Philippa to be her Maid of Honour. Prince William and Middleton will marry on April 29th of this year at Westminster Abbey.

When it was announced that William and Kate had become engaged Prince Harry commented saying that: “It means I get a sister, which I have always wanted,” and that he was “delighted”.

As well as the announcements of the best man and Maid of Honour, other plans have been released as well. The four bridesmaids have been announced as the daughter of the Earl and Countess of Wessex, Lady Louise Windsor, who is seven years old. Eight-year-old Margarita Armstrong-Jones, who is the daughter of Viscount and Viscountess Linley, and three-year-old Grace van Cutsem, the daughter of Hugh van Cutsem, who is a close friend to both William and Kate. The three-year-old granddaughter of the Duchess of Cornwall will be the forth bridesmaid.

Two page boys have been announced as William Lowther-Pinkerton and Tom Pettifer. Lowther-Pinkerton is the son of William’s private secretary while Pettifer is the son of William and Harry’s former nanny, Tiggy Legge-Bourke.

However, details of the bridesmaid dresses and page boys uniforms will not be revealed until the day of the wedding.

Thursday, December 20, 2007

Draft guidelines issued by the United States Department of Health and Human Services in November have established a series of tiers and categories for distribution of scarce vaccine in the event of pandemic flu. These guidelines give strong preference for emergency responders, military and national security personnel, and socially important occupations, such as top politicians, energy sector and communications personnel, bankers, and newborn infants. Distribution of vaccine to the elderly occupies a low priority, especially in the event of a severe pandemic with a case-fatality rate of 2% or more causing more than 1.8 million deaths. The scheme differs significantly from that proposed in Britain in 2005, which gave high priority to the elderly, noting that most of the deaths in recent years – ranging from 12,000 to 29,000 annually – were in elderly patients.

The plan is open to public comment under U.S. Federal Register guidelines until December 31.