Author: Admin

Thursday, July 14, 2005

First Active has become the first financial institution to offer 100% mortgages in the Republic of Ireland. The bank previously offered 100% financing to professionals in finance and medicine, but is now to offer this product to anyone who can afford to meet the repayments.

The development is a huge boost for first time home buyers who have been struggling to get on the Irish property market in recent years due to the rapid increase in house prices. A typical first time buyer in Dublin with 92% financing would normally have to put down a deposit of €20,000-€30,000 in cash, but now have the option to produce no deposit.

First Active has said that 100% mortgages will be available across its entire range of mortgage products.

Note however that this is not necessarily an entirely positive development.

The United States and most of Europe have experienced a housing price bubble in recent years. A bubble occurs when buyers purchase a property not because its price is appropriate for its actual value but because they expect the price to significantly rise in the short term permitting resale with a profit.

In other words, the prices people pay for properties becomes divorced from the real value of the property; the purchase is speculative and depends purely upon the expectation that people will continue to buy properties in this way (e.g. without proper consideration of their real value).

The terrible weakness in this is that when the market corrects itself and prices fall to a level where properties are being priced at their actual realistic value, anyone holding a property loses a great deal of money, since the price they paid does not reflect the actual realistic value of the property.

This kind of shock to the housing market is extremely undesirable. Significant write downs in the value of property often significantly depress the economy as a whole.

Less than 100% mortgages force buyers to invest a significant amount of money in the act of purchasing their house, which tends to discourage purely speculative purchasing, thus helping to mediate house price bubbles.

With 100% financing, anyone who can meet repayments can speculatively purchase a property. This naturally encourages pricing bubbles.

Monday, December 18, 2006

A state of emergency was declared Sunday for the U.S. state of Washington by governor Christine Gregoire, as additional reports of storm-related casualties surfaced. The state National Guard has been deployed to aid in distributing supplies.

Thousands were still without power in the coastal and Puget Sound regions, though most urban areas were back with power as late as Sunday afternoon, and outages were mostly contained to rural and unincorporated areas. Puget Sound Energy reported that roughly 500,000 energy customers out of the 700,000 who lost power were back in service by Sunday evening. Seattle City Light, the city’s independent municipal utility, reported only 18,000 customers still without power as of Monday morning, down from a peak of 175,000.

Four additional deaths related to the post-storm power outage had been reported as of Monday, bringing the total number of casualties to eight. A man in Gig Harbor was electrocuted by a downed power line while walking his dog. Another man in Spanaway died when an unattended candle caused a house fire.

Two died from carbon monoxide poisoning in separate incidents related to use of combustion devices indoors. Roughly a hundred additional cases of non-fatal carbon monoxide poisoning were reported from people using generators or grills indoors. News radio stations and authorities warned the public to stay away from downed power lines and not to use grills indoors. Dr. Neil Hampson at Virginia Mason’s hyperbaric unit, where a number of victims were being treated, warned it could be “the worse case of carbon monoxide poisioning in the country”.

On Monday, four new carbon-monoxide deaths were reported in a family of five in Burien due to an indoor generator. In Canada, which had some damage from the week’s storms, two southern British Columbia carbon monoxide deaths were also reported. Despite continued warnings, hospitals are still seeing cases of carbon monoxide poisoning, including a family in w:Shoreline, Washington which was taken to the hospital after they reported symptoms due to their indoor grill. Neighbors of the Burien family suggested that noise concerns are leading people to place noisy generators indoors.

The massive power outage left many stores and gas stations unable to operate. Some businesses opened with the help of backup generators, conserving power by foregoing heat and refrigeration, exterior lighting, and half the interior lighting. Most stores had run out of “D” size batteries, the most common size for flashlights, as well as firelogs and other essentials. Gasoline shortages were reported throughout the area, with one man selling excess fuel for as high as $15 per gallon, over 5 times the average retail price.

The Red Cross set up shelters throughout King and other affected counties for those without power or food. Hotels reported no vacancies as whole families took shelter in powered hotels, especially in Seattle. Restaurants also reported brisk business as people sought out a hot cooked meal. Tons of perishable food were expected to have become unsafe after the prolonged outage disabled refrigerators and freezers both in homes and stores.

Many of those without power visited nearby friends and family living where power had been continued or restored, while others traveled out of the area to places that had not been affected. The widespread outage made long-distance traveling treacherous on some major routes, with roadway lighting, cellular towers, and services disabled by the outage.

Most major roadways which were closed during the storm were reopened on Friday. The 520 Floating Bridge over Lake Washington, a major conduit to the technology-rich Eastside, sustained minor damage. Amtrak, which had halted its Cascades service, resumed Saturday evening. Sea-Tac Airport resumed operations with a reduced flight load, after a transient power outage on Friday disabled the airport radar and caused all planes to be grounded until it was repaired.

Tuesday, September 11, 2012

London, England — In an interview with Samoa’s Chef de Mission at the London Paralympics, Julie Tuala said she hopes to get a powerlifting program under way in Samoa following the London Games.

The Samoa Paralympic Committee, she explained, with assistance from the Oceania Paralympic Committee is submitting a grant request to acquire the equipment necessary for a powerlifting program in Samoa; equipment costs around A$18,000 to A$20,000 used, and is specifically built for paraplegic competitors who need to be strapped down when lifting. If Samoa is successful in getting the money for the equipment, the next challenge will be finding money to cover the cost of freighting it to Samoa. Tuala and the nation’s athletics coach have previously held raffles, run events at a golf club, and run bake sales to assist in covering costs for developing disability sport in the country and look to do it again if they can get the grant. The last grant the International Paralympic Committee gave for the region for the equipment did not include Samoa.

According to Tuala, equipment costs are a major barrier to participation in the development of disability sport. Samoan London Paralympian Leitu Viliamu needs a new leg as she has outgrown hers. A high quality leg like the one worn by Oscar Pistorius can cost upwards of AUD$10,000 per leg. Viliamu and fellow Samoan Paralympian Milo Toleafoa only acquired real running shoes for the first time when they arrived in London.

Samoa has primarily sent athletics competitors to past Paralympics because of the cost factor.

Sunday, August 21, 2005

A robotic system at Stanford Medical Center was used to perform a laparoscopic gastric bypass surgery successfully with a theoretically similar rate of complications to that seen in standard operations. However, as there were only 10 people in the experimental group (and another 10 in the control group), this is not a statistically significant sample.

If this surgical procedure is as successful in large-scale studies, it may lead the way for the use of robotic surgery in even more delicate procedures, such as heart surgery. Note that this is not a fully automated system, as a human doctor controls the operation via remote control. Laparoscopic gastric bypass surgery is a treatment for obesity.

There were concerns that doctors, in the future, might only be trained in the remote control procedure. Ronald G. Latimer, M.D., of Santa Barbara, CA, warned “The fact that surgeons may have to open the patient or might actually need to revert to standard laparoscopic techniques demands that this basic training be a requirement before a robot is purchased. Robots do malfunction, so a backup system is imperative. We should not be seduced to buy this instrument to train surgeons if they are not able to do the primary operations themselves.”

There are precedents for just such a problem occurring. A previous “new technology”, the electrocardiogram (ECG), has lead to a lack of basic education on the older technology, the stethoscope. As a result, many heart conditions now go undiagnosed, especially in children and others who rarely undergo an ECG procedure.

Saturday, May 14, 2005

Dinamo Moscow came into agreement with FC Porto on a deal bringing two stars of Portugal’s national team, Maniche and Costinha into the Russian club. Their transfer cost was 16 and 4 million euros respectively, making this the most expensive transfer deal in Russian football. The head of Dinamo’s board of directors, Alexey Fedorychev, is among the wealthiest Russian businessmen and he is responsible for making the money available to the club. Another Dinamo transfer target is the Greek footballer Seitaridis, also playing for Porto, but this deal has not yet been confirmed.

Meanwhile, in a Russian Premier League match Saturday with Amkar Perm Dinamo Moscow suffered its fourth defeat in a row 1-2, dropping to 9th place. Amkar (one of the poorest teams in Premier League) on the other hand, won the second match in a row. Despite conceding an early goal, Amkar was able to fight back, score from a penalty and secure a slender lead to win the away game.

Despite numerous signings between seasons and hiring a new coach, Oleg Romantsev, Dinamo’s performance is far from the best. Last season saw them at 14th place (out of 16), barely avoiding relegation, and the start of a new season isn’t promising either. It is yet to be seen, whether the new signings can help the club join the ranks of the top RPL teams, such as Lokomotiv Moscow and CSKA Moscow.

Wednesday, July 11, 2007

The Supreme Court in Libya has upheld the death sentence for five Bulgarian nurses and a Palestinian medical intern condemned for infecting 426 children with HIV. Just one day ago, a deal to free the foreign medics was announced.

The six defendants were not present at the court ruling, while family members of the children rejoiced when the judge confirmed the verdict. “This is a victory for the Libyan judiciary system. We are awaiting the execution of the death sentence,” said Al-Monseif Khalifa, a lawyer for the plaintives.

E.U. Commission President José Manuel Barroso remains hopeful that the medics will receive clemency. “We regret that these decisions have been made, but I also want to express my confidence that a solution will be found,” Barroso told the European Parliament.

Bulgarian President Georgi Parvanov called for a quick solution. He said the verdict came as no surprise, and expressed his hope for a swift final solution. The case will now move to the Supreme Judiciary Council which will hear the case on Monday, according to Libya’s Foreign Minister, Mohammed Abdel-Rahman Shalgam. The Council is headed by the Justice Minister of Libya.

Late Tuesday, the Gaddafi Foundation, a non-profit run by the son of Libya’s de facto leader Muammar al-Gaddafi, said a deal had been reached to free the health workers. The head of the Association for the Families of the HIV-Infected Children, Idriss Lagha, also said announced that a deal could be reached soon.

After the verdict today, Salah Abdessalem, a spokesman for the Gadhafi International Foundation for Charity Associations, reconfirmed to the Associated Press that a settlement to free the detainees still exists, which he said was acceptable to all parties and would end the crisis, without giving further details.

Unnamed officials who wished to remain anonymous disclosed the deal would involve financial compensation in exchange for the death sentences being commuted to a prison sentence, according to the Associated Press. E.U. officials say the European Union would agree to establish a fund of tens of millions of dollars to pay for the children’s future medical care. Bulgaria and the European Union are calling it humanitarian aid instead of compensation, which would imply that their citizens would be guilty.

The convicted nurses and medical intern began working in the El-Fath Children’s Hospital in Benghazi in 1998, and were arrested and jailed one year later when over 400 children were found to be infected with HIV -over 50 have died since. They were sentenced to death in 2004, and again after a retrial last December which came after an international outcry about the affair.

A scientific report by professors Luc Montagnier (one of the original discoverers of the virus causing AIDS) and Vittorio Colizzi used as evidence for the defence in the case said that the virus causing AIDS was widely spread in the hospital before the health workers even arrived, and that the infections were due to negligence and poor hygiene procedures in the Benghazi hospital. The prosecution introduced a report of Libyan scientists saying that this was not the case. The detainees have said that they have been tortured to make confessions.

Wednesday, August 31, 2005

A Rhode Island district court has frozen all the US assets of the Palestinian Authority (PA), prompting Palestinian finance minister Salam Fayyad to request the aid of US Secretary of State Condoleezza Rice.

The frozen assets include US holdings in an investment fund worth $1.3 billion, which was used to finance economic development, and $30 million from the Palestinian Monetary Authority.

The ruling was passed upon the PA when they refused to compensate the relatives of a Jewish couple shot dead by members of Hamas in 1996.

US citizen Yaron Ungar and his wife Efrat were killed while returning from a wedding near the West Bank, when their car was shot at repeatedly, killing the couple. Three Hamas militants were jailed as a result.

A lawsuit was filed in 2000 against the Palestinian Authority, the PLO, Hamas, and Yasser Arafat in Rhode Island.

Yasser Arafat hired lawyer and former attorney general Ramsey Clark as his defense. In the case, Clark argued that the PA was a sovereign state, and that it deserved immunity from prosecution accorded to most countries. The court disagreed with this, and in 2004 they ruled that Palestine is not a state, and ordered them to pay the Ungars $116 million. A federal appeals court upheld the verdict in March.

The head of Washington’s PA office, Hasan Abdul Rahman said that his office had been “paralysed” by the verdict.

“It paralyzes the function of the office, and I think that is the intention of the plaintiffs.” he told Associated Press shortly after the decision, and called upon the US administration to intervene.

Tuesday, April 30, 2019

Wikinews attended the sixth annual Mini Maker Faire in Tyler, Texas, United States on Saturday. Similar to a giant science fair, the event featured a variety of science, engineering and technology projects and items.

An array of technologies were on hand including 3D printers, drones, and various other physics devices. The owner of the Make Crate subscription service stated her company’s products place a strong emphasis on teaching young people about technology and coding. A traditional blacksmith was also on hand displaying metal working techniques.

Numerous Maker Clubs from an array of local schools were on hand, displaying a broad swathe of tech projects. A group of amateur hobbyists diplayed a model of the deck of the aircraft carrier, the USS Ronald Reagan with a solenoid device hooked up to launch paper airplanes.

• A volunteer hangs signage in preparation for the Mini Maker Faire in Tyler, Texas (April 2019) Image: Paul Budd.

• A parking sign showing the Discover Science Place logo. Image: Paul Budd.

• A banner for the event. Image: Paul Budd.

• A large 3D printer, installed in a portable trailer from LaTorneau College. Image: Paul Budd.

• 3D printed objects on display. Image: Paul Budd.

• The Make Crate company’s banner. Image: Paul Budd.

• Maker Club for All Saints, a local school in Tyler. Image: Paul Budd.

• Disclaimer poster. Image: Paul Budd.

• An interactive display, featuring bird songs, built by students from All Saints school in Tyler. Image: Paul Budd.

• A remote controlled police and medical drone on display. Image: Paul Budd.

Tuesday, February 5, 2008

The fourth day of New York Fashion Week debuted few daring designs even from designers known for such work. With few exceptions, the overwhelming theme was “old is new” and that the ’70s were even more in fashion than the shows on Sunday suggested. Among the designers to unveil their Fall 2008 lines on Monday were Oscar de la Renta, Carolina Herrera, Betsey Johnson, Proenza Schouler and a rejuvenated Halston line, under the direction of designer Marco Zanini.

Both global warming and the slowing economy have been cited as reasons for the overwhelming use of lighter fabrics over heavier attire. Also, retro designs and continuing trends have been used in effort to save money, like the tights that were expected to go out of fashion this year. Even in the glamorous world of high-end fashion, money has been tight, and with the world economies in a collective downturn, major designers have been more wary of continuing to churn out the stream of couture designs that past Fashion Weeks have seen.

Proenza Schouler’s show took the ’70s retro theme to a fever pitch, liberally using bows on designs and debuting more retro-era wide-legged pants that were first seen in Sunday’s shows. Zanini’s Halston label also brought back the ’70s, resurrecting old designs that the founder of the line made famous. Since the designer Halston’s death in 1990, many designers have tried to take the label in different directions. Zanini’s unveiling on Monday brought the line back to its Studio 54 roots, while using trenchcoats, sheer fabrics, and cardigans to finish the ensembles with a modern twist.

Betsey Johnson also debuted old and new styles on Monday, to celebrate the 30th anniversary of her fashion label. Copies of her original 1978 one-piece bathing suit as well as some early 1980s fashions started off the show. Her new pieces, such as animal print leggings coupled with a short twill jacket, were perceived as very skintight and criticized for not representing more fuller figures. Johnson brushed off the criticism, noting, “It’s tighter and sexier, but I still believe the girl brings the sex to the clothes…You won’t look sexy in a tight, below-the-knee skirt if you don’t feel good in it.”

The lone daring designer for the day was Carolina Herrera, who discarded the furs she promoted in the Fall 2007 show to focus on a Peter Pan theme, with earth tones and bird feathers. To further the “flying Peter Pan” motif, models donned such designs as a chiffon dress with ostrich feathers and a taffeta gown with a feather waistband.

Oscar de la Renta opted for more traditional blacks, golds and grays, debuting lines for men and women in fabrics he is familiar with. Men were outfitted in tweed while women were fitted in dresses that experimented with embroidery and tulle, both shades of past collections.

New York Fashion Week runs until Friday. Among others, labels Badgley Mischka, Diesel, and Vivienne Tam unveil their newest collections on Tuesday.

Tuesday, October 7, 2008

The Icelandic internet bank, Icesave, has suspended all 300,000 of its UK customer accounts, leaving account holders in the United Kingdom unable to withdraw or deposit any funds. A message on its website posted this morning states:

“We are not currently processing any deposits or any withdrawal requests through our Icesave internet accounts. We apologise for any inconvenience this may cause our customers. We hope to provide you with more information shortly.”

The internet bank, owned by the Icelandic bank, Landsbanki (Landsbankinn), which was recently nationalised in an attempt to rescue it, has been hit by the global financial crisis. Reports from the United Kingdom suggest that the traders and city are preparing for the parent company to be declared insolvent, leaving customers to recover their monies through a financial compensation scheme being backed by the Icelandic Government. The plan will cover the first € 20,887 (Approx £16,300 / $28,720), the remainder of the customers funds being recovered through the UK’s own financial compensation system.

Following the decision to nationalise Landsbanki, the Icelandic Prime Minister, Geir Haarde, who introduced and signed the emergency legislation into law, stated:

In describing and explaining its actions in nationalising the bank, the Icelandic Financial Supervisory Authority issued this brief statement:

In response to the deepening world financial situation, the Dutch government has this afternoon increased its savers protection from €38,000 to €80,000 effective immediately, to help secure the financial status of its savers within Holland. Icesave also has a Dutch branch, icesave.nl – their website was unreachable at the time of this article.