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.

Thursday, May 27, 2010

A US Coast Guard official said today that BP’s latest effort to plug the Gulf of Mexico oil spill has been successful in slowing the amount of oil leaking from the well.

The official, Admiral Thad Allen, said that the procedure, known as a “top kill” operation, has been able to block some of the leaking oil at the source, the top of the damaged well. The operation involves pumping material into the well to plug the leak before cement is used to permanently seal the leak. Allen said the operation has “been able to force mud down and not allow any hydrocarbons to come up.”

BP hasn’t confirmed the success of the top kill operation, saying only that the “operation is proceeding as we planned it,” and that there had been no major incidents thus far. Although the possibility of failure is still present, experts say that the longer the procedure continues, the less likely it will be that anything goes wrong.

The procedure began yesterday afternoon, after diagnostics on the damaged equipment on the ocean’s surface indicated that it could withstand the added pressure of the mud being pumped into the well. Although engineers involved with the operation wore concerned that the pressure of the mud might not be able to overcome that of the oil, that has thus far not been the case.

Separately, a group of US scientists announced new estimates of how much oil was flowing from the well, ranging from 12,000 to 25,000 barrels a day, far higher than BP’s original estimate of 5,000 barrels a day, a figure which BP warned was possibly inaccurate.

In a press conference Thursday afternoon, US president Barack Obama also announced new measures in response to the spill, which include:

• Suspending off-shore test drilling for six months
• Extending the moratorium on issuing drilling permits for an additional six months
• Cancelling the sale of leases for off-shore drilling.

In statements, Obama criticized the “scandalously close relationship” between government officials and oil companies in the past, saying that the Mineral Management Service, which is the agency responsible for monitoring off-shore drilling, had been corrupt for years.

Saturday, July 23, 2011

File:Anders Behring Breivik (Facebook portrait in suit).jpg

A gunman, identified by Norwegian media as Anders Behring Breivik, has shot and killed at least 85 people at a youth camp on the island of Utøya in Norway. The 32-year-old man has been charged with both this attack and an explosion in the capital city of Oslo, which killed at least seven people. Police searched Breivik’s apartment in Oslo overnight and have been interrogating him.

Breivik is reported to have arrived at the camp dressed as a police officer, telling children to gather around him for protection before systematically shooting them. It is not yet known whether he acted alone; police say there are no concrete reports of a second gunman, but this cannot be ruled out.

The camp was organised by the Workers’ Youth League (AUF), which is affiliated with the Norwegian Labour Party. A number of sources, both inside and outside of Norway, are speculating that an opposition to the Labour Party’s immigration policies, especially regarding Muslims, was Breivik’s motivation for the attacks.

Islam is the second largest religion in Norway, after Christianity, and Breivik’s comments on the political website Document.no, where he posted using his real name between September 2009 and October 2010, expressed anti-Islamic sentiments. He described the religion as a “hate ideology” ^{((no))Norwegian language: ?hat-ideologier} and compared it to Nazism. His Twitter account was used to post only a single comment, quoting social liberal philosopher John Stuart Mill: “One person with a belief is equal to the force of 100 000 who have only interests”.

Norwegian Prime Minister Jens Stoltenberg, who described the island as “a youth paradise turned into a hell”, reports that a number of children have not yet been located. He, and the families of some of the children killed, met with King Harald V of Norway, his wife Queen Sonja, and their son Crown Prince Haakon, and was said to have been “deeply touched” by the meetings.

He also said that it is “too early to speculate” about the shootings, and that the police should be allowed to continue with their investigations before people “jump to any conclusions”.

Breivik, who ran a farm, reportedly recently purchased six tonnes of fertiliser, which is speculated to have been involved in the making of the Oslo bomb.

The island of Utøya is closed to the public, and an official at the British embassy in Oslo does not recommend travel to the immediate area of central Oslo where the bomb was detonated. However, she is not discouraging travel to Norway, nor to Oslo.

Wednesday, September 7, 2005

One year ago today, September 7, 2004, the Wikimedia Commons project was presented to the public. Wikimedia Commons, or simply Commons, is a repository for multimedia files that include images, videos, computer animations, and music as well as spoken texts. They currently count more than 232,000 such files.

All of Commons content is published under a free licence, so the use of its files is permitted outside the project itself. Its main mission is to provide the international Wikipedias with images. Like Wikipedia, the Commons is based on a simple wiki principle that permits every user to contribute and change content. The project is organized into so-called gallery pages, and/or by adding files into categories organized in multiple topics that help facilitate the speedy location of desired files. Often it exists already a direct link from the Wikipedia page to the corresponding page in the Commons.

The Wikimedia Commons proposal was originated by the German Erik Möller, (Eloquence), in March 2004. Eloquence was until recently the Chief Research Officer of the Wikimedia Foundation. Up until the launch of Commons, it was time consuming to use material from one Wikipedia language project in a sister project of a different language. Each file had to be uploaded into each language edition of Wikipedia, and be described and licensed again. The goal was to reduce this redundant effort into one upload, which it can be said that this was successful.

The language in use on the project’s Main Page is English because it is an international project, but many information pages exist in multiple languages. Judging by the experience of other Wikimedia Foundation projects, it is only a question of time before further localization occurs at Commons. This will make it easier for users with fewer skills in foreign languages to also contribute files.

The content in the Commons is growing at a rapid pace. Within the last month alone, the number of images and other files has grown by more than 43,000. This represents a 22,7 % increase in relation to the prior month. While the Wikipedia projects usually compare themselves with the more widely known encyclopedias like Britannica and Brockhaus, a competitor Commons would likely be considered the huge commercial photo archives like Getty Images and Corbis, who possess more than 70 million images each. In relation to them, the Commons is very small at the moment. However, most of the important buildings and landmarks world wide are already featured in its database.

Like other Wikimedia Foundation projects, the Commons face certain challenges and problems. Sometimes people upload offensive images. The community has had to establish clear criteria about which content is acceptable, and which is not. There should not be unfair censorship. Obvious transgressions can be pointed out by anybody, and they are usually deleted rapidly by the administrators.

A sensitive topic is copyrights, and the rights of the owner of the pictured images. International rules have not yet been made compatible. In certain ways, the Wikimedia Foundation opens new territory in the area of intellectual property. Before Commons, it was almost exclusively a domain of professionals to publish images who were well aware of the legal issues. Now it is possible for huge numbers of photo amateurs to publish. Like with offensive content, obvious violations of copyright are deleted the moment they are brought to notice of the administrators. However, it is quite possible there will be an upcoming international debate if the free publication of certain content, e.g. images of national heritage objects, is in the overwhelming public interest. In cases such as this, private interests which might prevent publication are of lesser importance.

The contribution of Wikimedia Commons to a wide array of issues in research, reporting, education, tourism or others, at a global scale, is difficult to fathom at the moment. Most likely though the impact will be gigantic.

Sunday, February 12, 2006

Michelle Kwan, a figure skater on the United States Olympic team, has pulled out of the Olympic Games because of a groin injury. According to a newsbreak bulletin on NBC, she injured her right hip abductor muscle in a fall during practice on Saturday. The muscle pain continued to worsen and at 2:45am she went to the team doctor. The team doctor determined this was a serious injury and Michelle made the decision to pull out of the Olympics and give the alternate Emily Hughes the chance to skate.

Emily Hughes was contacted at 8:45pm Eastern time that she would be needed at the Games. She is scheduled to fly to Italy on Sunday. Emily Hughes is the younger sister of Olympic medalist Sarah Hughes.

Monday, September 7, 2015

The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008.

Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past three months stand at 221,000, compared to March-May’s 189,000 monthly average. Over the past twelve months, job growth has averaged 247,000 per month.

Average hourly earnings rose 0.3 percent, or 8 cents, marking the largest increase in earnings in seven months. Hourly earnings had risen by 6 cents in July. Wages have risen by 2.2 percent over the past year.

Job growth in August was primarily concentrated in the health care and social assistance, financial activities, and professional and business services sectors. Those three areas of the economy added a combined 108,000 jobs. Food service and drinking places employment increased by 26,000 over the month, and other economic sectors saw employment hold steady. Manufacturing, on the other hand, saw employment decline by 17,000 in August. A stronger dollar and worldwide economic weakness make US exports less desirable, leading to a flattening in manufacturing employment so far this year after steadily rising in the early years of the US economic recovery.

The solid overall job gains led analysts to slightly raise expectations for a decision by the Federal Reserve to raise interest rates this month. Investors raised the likelihood of a September rate increase from 26 percent before the jobs report to 30 percent, and stocks dropped by over one percent on Friday. “The payrolls data is certainly good enough to allow for a Fed rate hike in September,” said Deutsche Bank’s head of currency strategy, Alan Ruskin. “The big question is still whether financial market volatility will scupper the plans.”

“This is the first time the market has looked at a Fed meeting and really has no idea what the Fed is going to do,” said Mark Kepner, a New Jersey equity trader with Themis Trading. “Right now you’re looking at the overall uncertainty and that’s what’s hanging on the market. I don’t think this number in and of itself changes how somebody’s going to vote.”

Friday, April 11, 2008

Wikinews held an exclusive interview with Jeremy Hanke, editor of MicroFilmmaker Magazine. The magazine, which is free to read online, was started as a resource for the low budget moviemaker and features book, independent film, equipment and software reviews as well as articles on film distribution, special effects and lighting.

He says that one of the goals of the magazine is to “connect low-budget filmmakers via a feeling of community, as many…..often compete so viciously against one another in film festivals for coveted “shots” with Hollywood, that they can quickly forget their similarities.”

When asked if films made on a shoestring budget can really compete with those made for millions of dollars, he replied, “no…yes…and absolutely. Allow me to explain.” And so he does in the interview below.