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Pedophilia Rights!
After reading about the LGBT movement and seeing how they are slowly socially engineering for everyone to accept their lifestyle as normal, I asked myself something. "What will stop pedophiles and other sexually deviant people from wanting the same?" The answer is: nothing.
If two men and two women are seen as normal and can marry, then of course those who have attractions to minors or even animals will request the same treatment. Everyone wants "equality" right?!?
There was even a conference held to "normalize" pedophilia.
http://communities.washingtontimes.com/neighborhood/middle-class-guy/2011/aug/17/b4uact-seek-acceptance-minor-attracted-pedophiles/
B4U-ACT.org: Seeking acceptance for "minor attracted person" and pedophiles
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Photo: SQRT(UR MOTHER)
Wednesday, August 17, 2011 - Middle Class Guy by Peter Bella
Ask Peter a Question
CHICAGO, August 17, 2011—The modern age has been hailed as post-gender and post-racial. Meaning that we've grown as a society beyond petty discrimination against people on the basis of race or gender identity, and such discrimination is met with the entire wrath our legal and social institutions can muster.
If some people have their way, this modern age will soon be post-pedophilia. And playgrounds will be empty.
B4U-ACT is a Maryland-based group of mental health professionals, psychiatrists and pedophiles who want to normalize pedophilia. Instead of pejoratively calling them "pedophiles," "fiends," "deviants," "freaks," "perverts," "degenerates," "predators" or "pedophiles," they would prefer that society refer to them by the sensitive and socially-accepting term: minor attracted persons. (Daily Caller)
The groups latest symposium "Pedophilia, Minor-Attracted Persons, and the DSM: Issues and Controversies" was held today, August 17, 2011, in Baltimore, Maryland
The point of this symposium is to promote "tolerance" and "normalization." The group hopes it will lead to eventual acceptance of their peculiar desires and behaviors. It opposes treatment to change feelings of attraction to children, arguing that, "No one chooses to be emotionally and sexually attracted to children or adolescents. The cause is unknown; in fact, the development of attraction to adults is not understood.
Howard Kline, the science director of B4U-ACT, said of the existing definition, "It is based on data from prison studies, which completely ignore the existence of those who are law-abiding," adding, "The Diagnostic and Statistical of Mental Disorders (DSM) should meet a higher standard than that ... We can help them, because we are the people they are writing about."
We? What kind of science does he direct?
People in the child-protection field are intolerantly alarmed.
They're concerned that the deletion of pedophilia from the DSM will result in the decriminalization of pedophilia behaviors and force the repeal of criminal laws punishing pedophiles and protecting children.
B4U-ACT is described as "a 501(c)(3) organization that promotes dialog between mental health professionals and people with a sexual attraction to children or adolescents... "
"B4U-ACT is a unique collaborative effort between minor-attracted people and mental health professionals to promote communication and understanding between the two groups."
Freaks, fiends, degenerates, perverts, deviants and predators have their own 501(c)(3) that collaborates with the shrinks. The patients are helping run the asylum.
The goal of B4U-ACT is to demand, convince, cajole, and do whatever it takes to get the APA to revise the definition of pedophilia in the DSM. They are appalled that the current definition of "minor-attracted persons" is "inaccurate" and "misleading".
The DSM connects pedophilia with criminality. Which is, rights of the minor be damned, insensitive. The APA is not taking B4U-ACT seriously on this point. Even psychiatrists are not that crazy.
But it is worth being informed, and afraid, of this group.
What concerns B4U-ACT is the criminal stigma of pedophilia on law-abiding "minor attracted persons." The whole objective of this conference is to develop strategies and condition society "into accepting pedophiles".
"The first thing they do is to get the public to divest from thinking of what the offender does criminally, to thinking of the offender's emotional state, to think of him as thinking of his emotional state, [and] to empathize and sympathize," says child advocate Dr. Judith Reisman. "You don't change the nation in one fell swoop; you have to change it by conditioning. The aim is to get them [pedophiles] out of prison." (Emphasis mine)
Excuse me while I go hide the kid in the bunker.
Dr. Richard Kramer, B4U-ACT director of operations, wrote, "What purpose does calling someone a 'pervert' or 'predator' serve anyway, other than to express contempt and hatred? ... How is this productive? It certainly doesn't protect children. I would urge all SO [sex offender] activists to listen to their own message: Stop buying into and promoting false stereotypes. Stop demonizing a whole class of people, and start learning the facts."
Sex Offender activists? Class of people? You really can't make this stuff up.
Jacob Breslow, a graduate student in gender research at the London School of Economics, admits to being excited over the potential for exploiting the removal of pedophilia from the next edition of the DSM. In his abstract Sexual Alignment: Critiquing Sexual Orientation, the Pedophile and the DSM V, Breslow writes:
"Allowing for a form of non-diagnosable minor attraction is exciting, as it creates a sexual or political identity by which activists, scholars and clinicians can better understand Minor Attracted Persons." (Emphasis mine on purpose)
Where do we draw the line on hating the sin, but not the sinner? When does tolerance lapse into parody? When does self-accountability become more important than deviant urges?
There are some acts in this world - rape, torture, murder, and yes, pedophilia - that are hateful, and the urges to commit them are contemptible. It was once said, a long time ago, that columnists should incorporate the words fiend, pervert, degenerate, etc. as many times as they can get away with.
This is an unfortunate opportunity to obey that rule.
http://b4uact.org/science/symp/2011/index.htm
Pedophilia, Minor-Attracted Persons, and the DSM:
Issues and ControversiesWednesday, August 17, 2011
Featured Speaker: Fred Berlin, M.D., Ph.D., founder, National Institute for the Study, Prevention and Treatment of Sexual Trauma; founder, Johns Hopkins Sexual Disorders Clinic
This day-long symposium will facilitate the exchange of ideas among researchers, scholars, mental health practitioners, and minor-attracted persons who have an interest in critical issues surrounding the entry for pedophilia in the Diagnostic and Statistical Manual of Mental Disorders (DSM) of the American Psychiatric Association. The symposium will address critical issues in the following areas:
Scientific and philosophical issues related to the DSM entry on pedophilia and/or hebephilia
Effects of the DSM entry on stigma, availability of mental health services, and research
Ways in which minor-attracted persons can be involved in the DSM 5 revision process
It is crucial that the DSM be based on the most accurate and complete scientific information available, and on careful consideration of effects on the welfare of patients and society. This is especially true for the DSM entry on pedophilia; it has an enormous impact on the beliefs and practices of mental health professionals, the criminal justice system, the media, and the public. It also has a profound effect on adults and teenagers who are emotionally and sexually attracted to children or adolescents, on the availability of mental health services for them, and on relevant research.
The revision of DSM currently underway provides both the opportunity and the necessity to address fundamental issues surrounding the DSM entry for pedophilia. Numerous unresolved issues have been raised by scholars, researchers, and minor-attracted people. Controversy has arisen over scientific issues (e.g., the setting of diagnostic threshholds, the representativeness of forensic samples), philosophical issues (e.g., the definition of paraphilia, the nature of disorder, and whether hebephilia should be considered a disorder), and consequences of the DSM entry (e.g., its use in civil commitment hearings, its effects on stigma).
This symposium faciliates the interaction necessary for these issues to be addressed. The APA emphasizes that DSM revisions should involve the interaction of researchers from "diverse perspectives, disciplines, and areas of expertise" and be "sensitive to the needs of clinicians and their patients." Representatives from all of these groups will play important roles at this symposium.Social workers and psychologists who attend will receive 6.0 continuting education units (CEUs).
If you have any questions, please contact science@b4uact.org or (443) 244-9920.
Copyright © 2006–2011, B4U-ACT, Inc.
Now, they are starting to organize and start some kind of "rights" movement.
http://www.greeleygazette.com/press/?p=11517
Pedophiles want same rights as homosexuals
Posted by Jack Minor • October 15, 2011 • Printer-friendly
More from Jack Minor
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Claim unfair to be stigmatized for sexual orientation
by Jack Minor –
Using the same tactics used by "gay" rights activists, pedophiles have begun to seek similar status arguing their desire for children is a sexual orientation no different than heterosexual or homosexuals.
Critics of the homosexual lifestyle have long claimed that once it became acceptable to identify homosexuality as simply an "alternative lifestyle" or sexual orientation, logically nothing would be off limits. "Gay" advocates have taken offense at such a position insisting this would never happen. However, psychiatrists are now beginning to advocate redefining pedophilia in the same way homosexuality was redefined several years ago.
In 1973 the American Psychiatric Association declassified homosexuality from its list of mental disorders. A group of psychiatrists with B4U-Act recently held a symposium proposing a new definition of pedophilia in the Diagnostic and Statistical Manual of Mental Health Disorders of the APA.
B4U-Act calls pedophiles "minor-attracted people." The organization's website states its purpose is to, "help mental health professionals learn more about attraction to minors and to consider the effects of stereotyping, stigma and fear."
In 1998 The APA issued a report claiming "that the 'negative potential' of adult sex with children was 'overstated' and that 'the vast majority of both men and women reported no negative sexual effects from childhood sexual abuse experiences."
Pedophilia has already been granted protected status by the Federal Government. The Matthew Shephard and James Byrd, Jr. Hate Crimes Prevention Act lists "sexual orientation" as a protected class; however, it does not define the term.
Republicans attempted to add an amendment specifying that "pedophilia is not covered as an orientation;" however, the amendment was defeated by Democrats. Rep. Alcee Hastings (D-Fl) stated that all alternative sexual lifestyles should be protected under the law. "This bill addresses our resolve to end violence based on prejudice and to guarantee that all Americans, regardless of race, color, religion, national origin, gender, sexual orientation, gender identity, or disability or all of these 'philias' and fetishes and 'isms' that were put forward need not live in fear because of who they are. I urge my colleagues to vote in favor of this rule."
The White House praised the bill saying, "At root, this isn't just about our laws; this is about who we are as a people. This is about whether we value one another -- whether we embrace our differences rather than allowing them to become a source of animus."
Earlier this year two psychologists in Canada declared that pedophilia is a sexual orientation just like homosexuality or heterosexuality.
Van Gijseghem, psychologist and retired professor of the University of Montreal, told members of Parliament, "Pedophiles are not simply people who commit a small offense from time to time but rather are grappling with what is equivalent to a sexual orientation just like another individual may be grappling with heterosexuality or even homosexuality."
He went on to say, "True pedophiles have an exclusive preference for children, which is the same as having a sexual orientation. You cannot change this person's sexual orientation. He may, however, remain abstinent."
When asked if he should be comparing pedophiles to homosexuals, Van Gijseghem replied, "If, for instance, you were living in a society where heterosexuality is proscribed or prohibited and you were told that you had to get therapy to change your sexual orientation, you would probably say that that is slightly crazy. In other words, you would not accept that at all. I use this analogy to say that, yes indeed, pedophiles do not change their sexual orientation."
Dr. Quinsey, professor emeritus of psychology at Queen's University in Kingston, Ontario, agreed with Van Gijseghem. Quinsey said pedophiles' sexual interests prefer children and, "There is no evidence that this sort of preference can be changed through treatment or through anything else."
In July, 2010 Harvard health Publications said, "Pedophilia is a sexual orientation and unlikely to change. Treatment aims to enable someone to resist acting on his sexual urges."
Linda Harvey, of Mission America, said the push for pedophiles to have equal rights will become more and more common as LGBT groups continue to assert themselves. "It's all part of a plan to introduce sex to children at younger and younger ages; to convince them that normal friendship is actually a sexual attraction."
Milton Diamond, a University of Hawaii professor and director of the Pacific Center for Sex and Society, stated that child pornography could be beneficial to society because, "Potential sex offenders use child pornography as a substitute for sex against children."
Diamond is a distinguished lecturer for the Institute for the Advanced Study of Human Sexuality in San Francisco. The IASHS openly advocated for the repeal of the Revolutionary war ban on homosexuals serving in the military.
The IASHS lists, on its website, a list of "basic sexual rights" that includes "the right to engage in sexual acts or activities of any kind whatsoever, providing they do not involve nonconsensual acts, violence, constraint, coercion or fraud." Another right is to, "be free of persecution, condemnation, discrimination, or societal intervention in private sexual behavior" and "the freedom of any sexual thought, fantasy or desire." The organization also says that no one should be "disadvantaged because of age."
Sex offender laws protecting children have been challenged in several states including California, Georgia and Iowa. Sex offenders claim the laws prohibiting them from living near schools or parks are unfair because it penalizes them for life.
Posted by Sacerdotus at 1:50 PM
Labels: APA, Children, Human Rights, Kids, LBGT, Pedophile, Pedophilia, Psychology
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Clashes have killed at least 19 since demonstrations began two weeks ago, initially in protest against bread prices tripling but rapidly evolving in to anti-government rallies.
President Omar al-Bashir. Photo/File
Deadly protests that have grown across Sudan in recent weeks are the biggest threat to President Omar al-Bashir's iron-fisted rule since he swept to power in a 1989 coup, experts said.
Rights group Amnesty International has put the death toll at 37 and United Nations Secretary General Antonio Guterres has called for an investigation.
"These demonstrations and the anger that animates them are much stronger than any we've seen in recent years," said Eric Reeves, a senior fellow at Harvard University who has been tracking Sudan's politics and economy for two decades.
"The shortage of bread ... and outrageous price increases is perhaps the greatest source of immediate popular anger, and there is nothing that can alleviate the problem," Reeves told AFP.
Protests erupted when the government raised the price of a small loaf of bread from one Sudanese pound to three (from about two to six US cents).
Several buildings and offices of Bashir's ruling National Congress Party (NCP) were torched in the initial violence.
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Bashir, wanted for genocide by the Hague-based International Criminal Court over a conflict in Darfur, came to power in a coup backed by Islamists that toppled prime minister Sadiq al-Madhi and his democratically elected government.
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NISS agents regularly arrest opposition leaders, activists and journalists who voice anti-regime opinions.
Dilapidated economy
Bashir, 75, took control at the height of a brutal north-south civil war that only ended in 2005. Oil-rich South Sudan seceded in 2011, becoming the world's newest nation state.
Separate conflicts between Sudanese forces and rebels in Darfur, Blue Nile and South Kordofan states have also killed hundreds of thousands of people and displaced millions.
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Inflation has soared to 70 percent while shortages of bread and fuel have hit the capital and other cities.
"The economy has been collapsing for almost a decade ... but the regime functions as a kleptocracy and maintains power only through national budgets that are wildly skewed to military and security service expenses," said Reeves.
"I think the anger we've seen will not dissipate."
The ongoing protests are more widespread than those in January 2018 and September 2013.
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Investment News: RBS, Direct Line Insurance, Foxtons & more
Posted by theinvesmentman in ACCRA, Africa, banks, BC Partners, Business, Direct Line, European Union, Foxtons, Get rich quick, Ghana, Insurance, investment, japan, Jardine Lloyd Thompson, London, RBS, Royal Bank of Scotland, The Royal Bank of Scotland Group, Uncategorized, United States, usa
ACCRA, Accra International Conference Centre, Africa, BC Partners, Business, Direct Line, European Union, Foxtons, ghana, Insurance, Japan, Jardine Lloyd Thompson, John Kufuor, Kwame Nkrumah, London, RBS, Royal Bank of Scotland, The Royal Bank of Scotland Group, Trevor Manuel, United States
London equities are taking a breather today after yesterday's post-Fed surge, and The Trader Dominic Picarda is looking for further strong direction.
RBS (RBS) has offloaded a further 300 million shares in insurance group Direct Line Insurance (DLG) at 210p a share, banking £630m in the process. This is a continuation of the sale mandated by the European Union under state aid rules. RBS still holds 454.7m shares or 28.5 per cent of Direct Line, which will continue to be an overhang on the shares. We reiterate our sell recommendation on Direct Line.
Insurance specialist Randall & Quilter Holdings (RQIH) has announced a 3.4p a share special dividend for investors in a move which will also result in a reduction in the company's share capital. We keep our buy rating.
Simon Thompson recommendation Trading Emissions (TRE) has informed investors that its Braziliam subsidiary is facing a possible write down on its investment in biodiesel business Bionasa, which it owns 25 per cent of. The company is experiencing financial difficulties which Trading Emissions is still hoping will be resolved to allow its plant to recommence production, but there is no guarantee this will happen.
Estate agency Foxtons (FOXT) has confirmed the pricing of its initial public offering at 230p a share, which will value the company at £649m. The offering will raise £390m, of which £55m is for the business and £335m for shareholders including BC Partners and directors. Conditional dealings commenced this morning and the shares are trading at 280p.
Tanfield (TAN) has announced the disposal of its powered access division via a 'staged acquisition' which will see Xtreme Manufacturing of Nevada take on the working capital requirements and the business placed into a new entity which Tanfield will retain a 49 per cent share of. Dependant on future performance Tanfield will be paid preferred interest which will, over time, reduce its holding to 30 per cent.
Insurance broker Jardine Lloyd Thompson (JLT) is to acquire the reinsurance business of Towers Watson for $250m and merge it with its own JLT Re reinsurance business.
Recruiter Matchtech (MTEC) is raising £4.1 from a placing of a little more than 1m shares. It has also appointed Brian Wilkinson as its executive chairman.
Skyepharma (SKP) has been awarded approval for two bronchial drugs, Flutiform and Relvar Ellipta, in Japan.
Malaysian mobile messaging business MacroMacc (MACC) started trading on Aim this morning after raising £475,000.
RBS to sell 18.2% share in Direct Line (itv.com)
Estate agent Foxtons valued at £649m (bbc.co.uk)
Scottish News: RBS to sell fifth of Direct Line (acadvertiser.co.uk)
UPDATE 1-RBS raises 630 mln stg in Direct Line share sale (uk.reuters.com)
RBS set for windfall as it moves to sell off slice of Direct Line insurer (yorkshirepost.co.uk)
Foxtons valued at £649m in 230p-a-share float (telegraph.co.uk)
RBS seeks £600m from Direct Line share sale (theguardian.com)
Foxtons float: shares jump 20pc (telegraph.co.uk)
RBS to raise £650m from further Direct Line sale (telegraph.co.uk)
RBS to sell fifth of Direct Line (belfasttelegraph.co.uk)
Ex-Factory Prices Drops
Posted by theinvesmentman in ACCRA, Africa, banks, Business, Get rich quick, Ghana, Inflation, Inflation rate, investment, Manufacturing, Office for National Statistics, Price, Uncategorized
Africa, ghana, Inflation, Inflation rate, July, July 2012, July 2013, June, Manufacturing, Office for National Statistics, Percentage, Price
by Samuel Boadi (local journalist)
Ex-Factory prices reduced from 7 percent recorded in July 2012 to 5 percent in July 2013 year-on-year representing a decrease of 2.0 percentage points.
According to Government Statistician, Dr Philomena Nyarko, who officially launched the producer price index (PPI) for July 2013, the month-on-month change in producer prices between June 2013 and July 2013 was also -0.5 percent.
Dr. Nyarko said the producer price inflation in the Mining and Quarrying subsector decreased substantially by 11.7 percent.
She noted that producer price inflation for the manufacturing sector which constitutes more than two-thirds of total industry increased to 10.9 percent from a rate of 10.6 percent in June this year adding that the rate for the utilities sub-sector decreased marginally by 0.39 percentage points in July 2013.
She further said during the 12 months period from July last year to July this year, the highest year-on-year inflation for all industry was recorded in October with 19.1 percent whiles July 2013 recorded the lowest.
Dr. Nyarko indicated that between July and November 2012, the producer price inflation fluctuated until December 2012.
She however said that from December 2012 to February 2013, the rate declined to 9.1 percent but increased steadily to record 10.6 percent in March this year and subsequently declined consistently to record 5.0 percent in July 2013.
"During the month of July 2013, eight out of the 16 major groups in the manufacturing subsector recorded inflation rates higher that the sector average of 10.9 percent", she said adding that the manufacture of furniture; manufacturing recorded the highest inflation rate of 32.2 percent while producer prices in the manufacture of electrical machinery and apparatus recorded the lowest inflation rate of -5.6 percent over the one year period.
Commenting on the petroleum sector, she said between July 2012 and December 2012, the inflation rate in the petroleum sub-sector remained relatively stable adding that it however dropped in January 2013 and subsequently rose in March 2013.
"The rate remained unchanged in April 2013 but thereafter increased steadily to record 19.3 percent in Jun2013. In July this year the rate declined to 18.5 percent due to slight declines in the prices of marine gas oil and aviation fuel.
"The afore-mentioned figures for the month of July 2013 are provisional and are subject to revision when additional data become available."
Inflation climbs to four-year high (iol.co.za)
UK inflation rate eases to 2.7 percent (jsonline.com)
London rent soars to average of £1,100 (standard.co.uk)
UK Inflation Rate Eases to 2.7 Percent (abcnews.go.com)
Inflation rate drops to 4-year low of 2.1% (manilastandardtoday.com)
Reform to cut value of annual pension by 1,500 euros in five years (elpais.com)
UK inflation rate eases to 2.7 percent (fresnobee.com)
Inflation rates continue climb in August (dailynewsegypt.com)
Inflation, rupee may force RBI to keep rates on hold (dnaindia.com)
UK inflation rate eases to 2.7 percent (boston.com)
Investment News: Gulf Keystone, Asos, Exillon, IQE, Quindell Portfolio & more
Posted by theinvesmentman in ACCRA, Africa, banks, Brazil, Business, Canada, Equities, Get rich quick, Ghana, Gulf Keystone Petroleum, ingenie, investment, Kurdistan, London, Makro, Petroleum industry, Premier Farnell, Quindell, Simon Thompson, Uncategorized, United States, United Utilities, usa
Brazil, Canada, Equities, Gulf Keystone Petroleum, ingenie, June, Kurdistan, London, Makro, Petroleum industry, Premier Farnell, Quindell, Simon Thompson, United Utilities
Equities in London have flown out of the blocks this morning after the Federal Reserve surprised everyone last night by holding off on tapering its QE3 monetary easing programme. The Trader Dominic Picarda is pleased with the news, but isawaiting a little pull back now before piling in.
Half year results from Gulf Keystone Petroleum (GKP) showed losses reducing to $26.4m as the company enters ramp up phase in production from its giant Shaikan discovery in Kurdistan. The first production facility at Shaikan PF-1 is producing 12,400 barrels of oil per day (bopd) as it builds up to its capacity of 20,000 bopd and a second 20,000 bopd production facility should be in operation by the end of the year. Meanwhile drilling is ongoing on other areas of the discovery and the field development plan has been approved. We keep our buy recommendation.
Sell recommendation. Asos (ASC) has confounded expectations with another stellar performance in the past three months which means full year profits are likely to beat expectations. The three months to August saw UK retail sales rise by 49 per cent and international sales up by 47 per cent. Total group revenues for the year were up by 39 per cent. Our recommendation is under review.
Russian oil company Exillon (EXI) has formally initiated a strategic review which is likely to lead to the sale of the company. Following interest in buying the company from founding shareholder Maksat Arip, confirmed in late July, the company has since received further expressions of interest and is now in a 'formal sales process'. We will review our recommendation in a tip update.
Simon Thompson recommendation. IQE (IQE) has issued strong half year results showing revenues up 84 per cent and cash earnings up 162 per cent at £10.5m, boosted by acquisitions. The company admits that its wireless device end markets were hit recently by uncertainty ahead of the release of the latest wave of smart phones but are expected to pick up sharply again now.
Fellow Simon Thompson tip. Global Energy Development (GED) increased its production by 16 per cent to 235,000 barrels during the six months to June but turnover fell marginally due to lower realised oil prices. The company remains focused on finding a farm out partner for its Magdalena interests in Colombia.
Booker (BOK) has reported another solid trading period for its core cash and carry business with like for like sales up 3.5 per cent in the 12 weeks to 13 September. The performance at the acquired Makro business is also showing signs of turning around. The company has opened two more branches in India, taking the total to six. Buy.
United Utilities (UU.) says trading is in line with expectations for its first half, with revenues expected to be slightly higher than the same period last year after regulatory price increases which means underlying profits will be up 'moderately'.
Insurance services specialist Quindell Portfolio (QPP) has made a further investment in telematics specialist ingenie and also taken 40 per cent stakes in two businesses it is spinning out in the UK and Canada. The company, which specialises in using telematics to set drivers' insurance costs is looking to expand its offering to the over-25's market. Simultaneously, Quindell announced a contract win in Canada for its telematics services.
Animal feeds specialist Anpario (ANP) has enjoyed another strong half year as it benefits from expansion into the US, Brazil and China. Revenues rose by 20 per cent and adjusted earnings by 28 per cent.
Electronics supplier Premier Farnell (PFL) continues to suffer from subdued end markets, with revenues growing just 0.9 per cent in the first half although a margin improvement helped total profits rise by 19.8 per cent to £38.1m.
Gulf Keystone Wins Lawsuit Over Ex-Soldier's Iraqi-Oil Claim (bloomberg.com)
Russian oil producer Exillon to explore sale (worldbulletin.net)
Gulf Keystone wins court battle over Kurdistan oilfields (theguardian.com)
Gulf Keystone wins UK court case over Kurdistan oilfield ownership (uk.reuters.com)
ingenie to Extend its Telematics Insurance Offering to Experienced Drivers and Launch in Canada (sys-con.com)
Quindell profits double as contracts flow in (thetimes.co.uk)
Hampshire firm set to create 100 new jobs (dailyecho.co.uk)
Questor share tip: Quindell Portfolio still a buy despite naysayers (telegraph.co.uk)
Should you join the rush into Aim shares? (telegraph.co.uk)
UPDATE 2-Gulf Keystone wins Kurdistan oilfield ownership court case (uk.reuters.com)
Kufuor, others call for quality leadership in Africa
Posted by theinvesmentman in ACCRA, Accra International Conference Centre, Africa, banks, BRIC, BRICS, Business, Chief executive officer, Declaration, Economic development, Federal Reserve System, Get rich quick, Ghana, Head of state, History of Africa, Industrialisation, investment, John Kufuor, Kwame Nkrumah, South Africa, St Petersburg, Sustainable development, Trevor Manuel, Uncategorized, United States, US, US Federal Reserve, usa
ACCRA, Accra International Conference Centre, Africa, BRICS, Chief executive officer, Declaration, Economic development, Federal Reserve System, ghana, Head of state, History of Africa, Industrialisation, Investment, John Kufuor, Kufuor, Kwame Nkrumah, Manuel, South Africa, St Petersburg, Sustainable development, Trevor Manuel, United States, US Federal Reserve
Former President John Agyekum Kufuor and other eminent persons have underscored the need for African countries to use stronger institutions and quality leadership to develop the continent and improve the life of its people at a lecture in Accra on Thursday September 12.
Speaking at the John A. Kufuor Foundation's 3rd Global Development Lecture on "Africa – Emerging Economies & Globalisation" , President Kufuor said good leadership is a critical prerequisite for good governance, which in turn delivers the required environment for development. He said leadership therefore should be nurtured, and called on students to use the opportunity of schooling to interact and expand their mental horizons so that when they come out of school, they can help proffer solutions.
"We all know our continent is afflicted. Diseases, ignorance, poverty, dictatorships and so on, we need to tackle all these things and nobody is going to come from outside to do these works for us, we must do them to make our name into the developed world."
President Kufuor said when Africa has related to other continents, it has done so from a position of disadvantage, her rich mineral resources exploited and carted away, while the continent suffer the indignation and scorn of the exploiters.
Pragmatism rather than posturing is what is needed, he re-echoed words attributed to Dr. Trevor Manuel, South Africa's National Planning Commission Minister, saying it is a critical maxim that must be inculcated in the African for the work ahead.
Former President Kufuor who said the foundation aims to promote and advance leadership, good governance and development on the African continent, also pointed out that real and rounded development with high quality of life for all the people on a sustained basis is the dream of all nations.
Dr. Trevor Manuel pointed the way for Africa's economic emancipation, pinpointing the need for a collective assault on the impediments to development on a continent paradoxically wanting amidst plenty.
In African unity lies our collective strength, he said, arguing that with so many factors going for the continent, quality leadership and indigenous solutions are some of the critical ingredients required to buck the trend of underdevelopment and misery.
Capping a brilliant address laced with very practical yet highly motivating action points at the lecture at the Accra International Conference Centre, Dr. Manuel said with high growth, the experience of what works and what does not, plus the good luck of excellent commodity prices, Africa critically need leadership and a push for faster and further institutional reforms.
"Let us accelerate the pace of our work, and ensure that every African renews their self-belief. We have the development lessons to build on, we have a rich African history of successes and unrequited promises to draw from. Increasingly, we have to think of a single Africa, and flatten the sovereign impediments to that single objective. It is worth reminding ourselves of our collective capability.
"This is our moment and the questions before us are whether we understand the moment that we have created? Whether we can persuade the dissenters? And whether we can, as Kwame Nkrumah argued, it is clear that we must find an African solution to our problems, and this can only be found in African unity," he posited, drawing a long drawn cheer from the filled auditorium that included several of Ghana's ex-ministers who served in President Kufuor's administration, as well as a good number of industry chieftains.
Enumerating what he described as an important period in Africa's political economic history, Dr. Manuel said the continent's economic performance over the past decade has been stellar, reaching levels of growth not seen as consistently before. That solid performance, he said, was against the backdrop of a world economy that now in its sixth year of crisis, with no end in sight.
"In fact, the cross-border impacts of decisions in large economies globally have created a huge concern. In particular, the impact of monetary easing by the US Federal Reserve has induced huge volatility in the emerging market economies, especially amongst the BRICS. This admission is included in the Declaration of the meeting of G20 Heads of State who met in St Petersburg just a few days ago. What is important, therefore, is that we raise the quality of both the interactions and commitments by African leaders for mutual and intra-African collaboration."
Dr Manuel said the past decade offers an important learning opportunity, for during this decade-long boom for Africa, poverty rates fell, school enrolment increased, infrastructure investment spending quadrupled, exports increased and Africa received a growing share of foreign direct investment. And these positive trends come on the back of improving governance and a much sounder approach to macroeconomic management.
Africa, he said, can pat itself on the back, but at the same time, it needs to understand the contextual realities that gave rise to this growth.
"The main question is whether we can sustain these trends, deepen them, broaden them and most importantly, take more of our people along a path of rising incomes, rising employment and better living standards. Despite the positive trends, it is not self-evident that Africa will prosper. Whether we succeed as a continent will depend on the reforms we introduce to sustain growth and make it more inclusive. What we do next, may significantly alter the historical trajectory of our continent. We have to build on the growth of the past decade, and invest in industrialisation and our human capital to further expand and modernise our economies."
He said there is a need to further unlock Africa's growth potential and establish clearer, more effective links between decision-making and implementation and delivery.
Dwelling on a set of themes around which he said reforms must evolve, he said a renewed focus on regional integration; the institutional underpinnings for sustainable growth, including education, health care and the building and strengthening of accountable institutions of governance; a focus on the need for urban policy; and the need for significantly higher investment in infrastructure, and lastly, a set of issues relating to employment, economic diversification, including the need to industrialise are key.
SA Minister calls for "faster" institutional reforms in Africa (modernghana.com)
Africa needs institutional reforms – Dr Manuel (ghanabusinessnews.com)
Cleanse Akpeloo honoured (spyghana.com)
EC must not be a power onto itself – Kufuor (themaytimes.com)
Harnessing the African Diaspora in Building Capacity in Africa, Washington DC (sierraexpressmedia.com)
A future of African-led development is underway (scidev.net)
Kobby Acheampong Calls For Kufuor's Head Over GNPC Ship (spyghana.com)
Africa should develop its own democracy – de Klerk (ghanabusinessnews.com)
Open Letter To Jake Otanka Obetsebi Lamptey (spyghana.com)
Kufuor, others call for stronger institutions, quality leadership in Africa (modernghana.com)
Investment News: JD Sports, Smiths Group, Sirius Minerals, Global Energy Development & more
Posted by theinvesmentman in Africa, banks, British Isles, Business, Carillion, Federal Reserve, Federal Reserve System, Get rich quick, Ghana, investment, JD Sports, KeyBank, M&C Saatchi, Nigeria, Real estate investment trust, Smiths Group, Trader Dominic Picarda, Uncategorized, Unite Group, Universities Superannuation Scheme
British Isles, Business, Carillion, economy, Federal Reserve, Federal Reserve System, JD Sports, July, June, KeyBank, M&C Saatchi, Nigeria, Real estate investment trust, Smiths Group, Trader Dominic Picarda, Unite Group, Universities Superannuation Scheme
Equities are flat in early trading as investors await the long anticipated announcement from the Federal Reserve on tapering of its QE3 programme, and The Trader Dominic Picarda is sitting on the sidelines until the dust settles.
Retailer JD Sports (JD.) turned in a solid performance during the six months to 3 August despite continued poor trading at its outdoor businesses Milletts and Blacks. The core sports fascias saw like for like sales rise by 7.5 per cent in the UK and Ireland and operating profits leapt by 55 per cent. The company has begun expanding its sports stores in Europe. The fashion fascias performed less well with like for like sales down 2.2 per cent and outdoor fared poorly too. The two outdoor brands have been separated with management dedicated to each and further costs taken out. If JD can turn around outdoor and fashion it has a seriously strong business on its hands, we keep our buy rating.
Smiths Industries (SMIN) has posted flat results for the year to July with revenues up just 2 per cent at £3.1bn and profits flat at £498m. Emerging markets sales rose by 14 per cent and now account for 16 per cent of the whole business. Smiths continues to refocus away from government contracts and has identified further cost savings to take out. Meanwhile investors can look forward to a 30p special dividend on top of the 39.5p full year payout. Buy.
Construction specialist Carillion (CLLN) has been awarded preferred bidder status on a Canadian highways contract worth more than £100m over 12 years. We maintain our buy recommendation.
Simon Thompson recommendation. Global Energy Development (GED) has updated investors on its development plan for the Bolivar contract area in Colombia, where it has identified a substantial shale oil resource. The drilling plan has been simplified and should yield more output when in place, but it has slightly delayed discussions with potential partners.
Fellow Simon Thompson recommendation. Town Centre Securities (TCSC) has produced results on a par with last year with underlying profits of £7.3m and a net asset value of 267p, which leaves the shares at a 23.4 per cent discount. Occupancy remains strong at 98 per cent and the group's car parking business increased profits by 3.2 per cent.
Sirius Minerals (SXX) has attempted to shore up shareholder confidence after the recent delays to its planning application for its York potash project with a maiden resource estimate which indicates the potential size of the mine. The company has announced an ore reserve of 250m tonnes of polyhalite at an average grade of 87.8 per cent from just 1 per cent of the project area. This means a mine life of at least 50 years, possibly double that. Nonetheless until the permission is granted for the mine shares are likely to remain depressed.
Faroe Petroleum (FPM) announces that operator Statoil has spudded the Snilehorn exploration well in the Norwegian Sea. Faroe has a 7.5 per cent interest in the well. We keep our buy recommendation on Faroe.
London Metric Properties' (LMP) joint venture with the Universities Superannuation Scheme, the Metric Income Plus Partnership, has acquired five Wickes retail warehouses for £28m. We maintain our buy rating.
Interim results from M&C Saatchi (SAA) show a 5 per cent rise in revenues and a 13 per cent leap in underlying operating profits with revenues in the UK up by 8 per cent and like for likes in the Americas and Europe up by 24 per cent and 21 per cent respectively.
Housebuilder Redrow (RDW) is benefiting from the buoyant conditions the sector is enjoying and has posted a 26 per cent rise in revenues in the year to June which, with improving margins, helped produce a pre-tax profit uplift of 63 per cent to £70m. Management is confident enough to reinstate the dividend at 1p a share. Weekly reservations are now running 40 per cent ahead of last year.
Eland Oil & Gas (ELA), which is trying to restart oil production on the OML40 licence area in Nigeria has reaffirmed that it expects first production to flow in October.
Unite Group (UTG) has agreed a deal with Schroder Real Estate Investment Trust to acquire a one acre site in Wembley for £7.4m on which it will build a student residence and office building through its London Student Accommodation Vehicle joint venture with a development value of £47m.
Half year results from Highland Gold Mining (HGM) showed a small increase in production to 105,630 ounces of gold and a similar increase in gold sales. The group has also reduced cash costs of production but lower realised gold prices hit profitability with net profits down from $48m to $17m.
Week ahead in business and economics: September 16-20 (telegraph.co.uk)
Millets weighs on profits as JD Sports soars (standard.co.uk)
Millets survival slows JD pace (belfasttelegraph.co.uk)
UK retailers ready to show effects of good summer (thejournal.co.uk)
Nike Air Max 95 – JD Sports Exclusives (complex.com)
You can starve on benefits in this country | Jack Monroe (theguardian.com)
Market round-up: Miner Randgold on the rise but Glencore Xstrata is in a hole (standard.co.uk)
How to Play the Spike in Gold (dailyfinance.com)
Sirius Minerals Drops on Potash Mine Planning Submission Delay – Bloomberg (bloomberg.com)
Stocks to watch on Wednesday (news.theage.com.au)
A sneak peek into Uganda's nascent PR and Adverting industry
Posted by theinvesmentman in Africa, Airtel, banks, Bharti Airtel, Business, Commonwealth Heads of Government Meeting, Get rich quick, investment, Kenya, South Africa, Uganda, Uncategorized, Warid Telecom
Africa, Bharti Airtel, Commonwealth Heads of Government Meeting, Daily Monitor, MTN Group, South Africa, Uganda, Warid Telecom
Reflex Eco Group – Uganda News
by Othman Semakula (Ugandan journalist of Daily Monitor)
In April 2011 ZK Advertising, a subsidiary of ZK Tanzania, and one of Uganda's biggest (then) advertising firm summarily closed after it lost one of its key accounts (Zain and later Airtel).
ZK had handled Zain's [which was in 2010 sold to India's Bharti Airtel] PR and Advertising budget for about 10 years, as the telecom sought to turn around its fortunes through transiting from a high end telecom to a mass market.
The sale forced a revision of a number of deals including the renegotiation of the PR and Advertising contract that was handed to Moringa Oglivy in a deal negotiated in South Africa.
Thus as it seemed Airtel thought it needed a new partner to drive its agenda as ZK had failed to substantially influence an increase in subscriber numbers that had stagnated at about three million subscribers despite a huge spend of about $8 million (Ushs20 billion) in advertising annually.
However, it should be noted that early this year Airtel acquired Warid Telecom which has driven its subscriber numbers to about 7.2 million active subscribers.
The events that followed meant that ZK had not only lost its account in Uganda but had also been deprived of huge sums of money in advertising spend in other countries including Tanzania, where the parent company later collapsed in 2012 due to huge debts and loses admittedly spurred by the loss of one of the firm's cash cows [Zain and later Airtel].
In this case ZK Uganda had lost about 70 per cent of its revenue streams that at the time would rake in about $703,125 [about Ushs1.8 billion] annually.
Airtel operates in 16 African markets and recently entered Rwanda's data market that has in the last five years registered marked improvements.
In Uganda [Airtel] at least spends in the excess of $8 million [Ushs20 billion] annually on brand image, media placement, sponsorships and public relations among others.
The above scenario is not an isolated case in Uganda's PR and Advertising industry but is a mark that defines the challenges of continuity especially when such firms lose some of their key accounts.
In 2010 QG Saatchi & Saatchi with links in South Africa and a market leader [then] in Uganda's PR and advertising sector was almost wiped off the market after the government and a section of civil society accused it of mishandling tax payers money that had been meant to promote and publicize the Commonwealth Heads of Government Meeting (CHOGM) in Kampala in 2007.
The accusations dented the firm's image forcing the exit of key accounts including MTN Uganda and Stanbic Bank both subsidiaries of MTN and Standard Bank based in South Africa respectively.
The firm had also previously handled key accounts including Gtv [which collapsed in 2008] and Woolworths, a South Africa based clothing line.
Although the firm has scrambled through the fragile tide it was in 2011 almost wiped off Uganda's market but continues to operate though as a market peripheral.
The above is a clear illustration of Uganda's fragile but profitable PR and Advertising industry.
The industry continues to register tremendous growth but there is a void with a lot of opportunities ready to be tapped into.
However, the industry is as well saturated with firms that are seemingly not up to the task.
A recent survey conducted by Daily Monitor, a Ugandan newspaper, indicates that the country has about 45 PR and Advertising firms all competing to have a share of the seemingly small corporate market.
However, majority of the above are according players just but scrambling through with many accused of being press release experts with no major impact on building brand image.
Mr Herbert Zzake, the Standard Chartered Bank Uganda head of corporate affairs and a market analyst, shares his frustration when it comes to dealing with PR and Advertising firms.
He says the two firms [though he does not name them] that he had tried to deal with seven years ago disappointed him thus the bank took a decision to handle its PR in-house.
"It was frustrating we had to physically follow them [PR firms] to accomplish the assignments with virtually no value added."
However, he adds the industry is beginning to pick the rags, which as he says was not the case ten years.
"We still have a long way to go to reach the level of our neighbours like Kenya, however, indications show the industry is on the right path to prosperity." he says.
Mr Zaake's claims are a signal that singles out and explains the challenges of Uganda's PR and Advertising industry as firms struggle to have a share of the small but lucrative corporate market.
And thus the industry has been fondly caught off guard as players employ all forms of underhand methods to suffocate free media in Uganda.
Such firms have an array of means including bribery to fix or kill sensitive stories about their clients as well maligning media managers through cutting advertising spend to critical media houses.
The above is attributed to a struggle that seeks to keep clients 'happy' as well as the need to retain or recruit new accounts in a market with a limited number of companies that have capacity to hire third party publicity and media buying.
A 2011 survey conducted by Synovate Uganda – a research firm, indicates that PR and Advertising firms in Uganda rely on about five sectors that form the bulky of the industry's publicity and advertising spend.
Data obtained by Daily Monitor indicates that MTN Uganda leads in media spend, according to the 2011 Industry Exposure survey.
The survey indicates that the telecom spends about $12.8 million [Ushs33 billion] on PR, sponsorships and advertising
Among the 20 firms surveyed the least spender was Bidco Uganda spending over $156,250 [Ushs4 billion].
Other companies including Airtel Uganda [currently merged with Warid Telecom], Orange Uganda and Mukwano Group are identified by the survey as some of the companies among Uganda's top spenders in the PR and Advertising industry.
However, it should be noted that the substantial amounts of money involved in the industry is a pivotal feature that defines ethical conduct of most PR and Advertising firms in Uganda.
For instance it's a known fact that media ethics continue to be compromised through the use of crafty and underhand methods.
However, even amidst challenges, players continue to see optimism considering the country's growing corporate sector.
In an email exchange recently, Mr Alex Rukundo, the Metropolitan Republic managing director, which currently handles MTN Uganda's PR and Advertising budget told Daily Monitor the sector continues to register progress even with a number of challenges.
He says: "I strongly believe the industry has strong potential but there will be pain, before happiness. If you compare the industry today and five years ago we have come a long way, people ought to give us some credit."
Mr Muhereza Kyamutetere, the Fireworks general manager and a market analyst echoes Mr Rukundo's optimism, saying the industry continues to see some improvements considering the fact that a number of corporate companies are finding it necessary to hire third party publicity firms to spur their brand images and development.
He says although it is still a small sector, market indications suggest a huge void that needs to be tapped into by both local and multi nationals.
Chinese top legislator pledges closer ties with Uganda (nzweek.com)
Uganda suspends Somalia peacekeepers (bbc.co.uk)
This is why Uganda Muslims where not given directors' posts in KCCA (um-bs.com)
Are you trained in first aid? It could be the difference between life and death in Uganda. Message from Uganda Red Cross Secretary General on World First Aid Day 2013 #WFAD2013 (publichealthourconcern.wordpress.com)
Uganda Teachers to Begin Nationwide Strike Monday (voanews.com)
Japanese firm to lay a 2,000 km pipeline to export South Sudan and Uganda's oil (sudantribune.com)
2013 Fall Celebration – Passport to Uganda (aidafricablog.wordpress.com)
Uganda suspends officers sent to Somalia on AU mission. (somaliswisstv.com)
Growing Controversy Over GMO Bananas in Uganda (voanews.com)
Uganda suspends 24 officers over Somalia corruption (foxnews.com)
Investment News: Debenhams, IG Group, Afferro Mining, Lloyds Banking & more
Posted by theinvesmentman in Africa, banks, Business, Company, Debenhams, Federal Reserve System, Galliford Try, Get rich quick, Ghana, IG Group, Imagination Technologies, International Mining Infrastructure Corporation, investment, japan, Lloyds Banking Group, Lloyds TSB, London, Share (finance), Uncategorized
August, Business, Company, Debenhams, Federal Reserve System, Galliford Try, IG Group, Imagination Technologies, IMG, IMIC, Japan, LLOY, Lloyds Banking Group, Lloyds TSB, London, Share (finance)
Shares are off marginally in early trading in London as investors await tomorrow's announcement from the Federal Reserve on tapering of QE3. The Trader Dominic Picarda expects some volatility over the next two trading sessions but for equities to then settle back into their upwards trend.
Retailer Debenhams (DEB) has seen performance remain on track in the past 10 weeks which has helped contribute to like for like sales growth of 2 per cent for the year to August which should deliver profits in line with expectations. Online is a bright spot with sales up by 46 per cent. We keep our buy rating.
IG Group (IGG) grew group revenues by 15 per cent in the three months to end August, driven by a strong pick up in Europe, where revenues surged by 31 per cent, and the UK, up 16 per cent. Japan and Australia were more subdued. We retain our buy recommendation.
The shareholders of Afferro Mining (AFF) have voted in favour of the takeover offer by International Mining Infrastructure Corporation (IMIC) which should clear the way to completion of the transaction in the coming weeks. We continue to advise investors to hold for now.
Galliford Try's (GFRD) strong full year results reflect the buoyancy of its house building operations with pre-tax profits rising by 17 per cent despite a 2 per cent reversal in overall revenues. The company reported a 16 per cent increase in reserved, contracted or completed sales at the year end to £450m. The construction order book is flat at £1.7bn. Buy.
Corporate litigation and patent investment specialist Juridica (JIL) has taken a $2m strategic stake in intellectual property creation business ipCreate and formed a strategic alliance with the business. IpCreate specialises in helping patent holders monetise their patents. We keep our buy on Juridica.
Burford Capital (BUR), which provides investment capital for litigation, has enjoyed a bumper six month performance, growing pre-tax profits by 65 per cent to $9.7m. Meanwhile a ramp up in activity in the UK market means the business has written $150m worth of new business during the first half, more than it booked in the whole of 2011 and 2012 put together. We maintain our buy recommendation.
The government managed to rapidly offload a stake of around 6 per cent in Lloyds Banking Group (LLOY) to institutions as it tested the water for offloading the rest of its stake, which still accounts for around one third of the business. An accelerated book build was opened and closed rapidly at the end of the trading day yesterday with institutions snapping up £3.2bn worth of shares at 75p each in quick fashion.
Housebuilder Crest Nicholson (CRST) timed its return to the equity markets earlier this year almost to perfection, coming just as the housing market began to accelerate again. This is reflected in today's trading statement which shows reservations up 46 per cent year on year in the period since 1 May. All planned 2013 completions have been covered by sales and reservations and forward sales total £145m, almost double the level recorded this time last year.
Imagination Technologies (IMG) says trading remains in line with expectations and that the current performance supports forecasts of £30m-£35m in licensing revenues, or up to £43m including the MIPS acquisition. The company is also guiding towards shipments of more than 650m units in for the full year, or 1.35bn including MIPS.
Advanced Computer Software (ASW) says it expects to report results in line with expectations with revenues up by 74 per cent and profits 67 per cent higher at no less than £22m.
Max Petroleum (MXP) reported mixed results from appraisal wells in Kazakhstan with the BCHW-3 well on the Baichonas West field proving uncommercial but the UTS-16 confirming the presence of hydrocarbons and being put on production.
Starting gun fired on sale of Lloyds shares (yorkshirepost.co.uk)
UK: Government sells £3.21bn slice of Lloyds Banking Group (eadt.co.uk)
UK to Sell Stake in Lloyds, Five Years After Bailout – Bloomberg (bloomberg.com)
Government sell-off of Lloyds has begun (metro.co.uk)
Government kicks off Lloyds sale (theguardian.com)
Lloyds share sale makes £60m for government (theguardian.com)
UK government kicks off Lloyds sale (irishtimes.com)
UK to sell part of Lloyds bank stake (bigpondnews.com)
Government sells 6% of Lloyds stake for £3.2 billion (thetimes.co.uk)
IN DEFENCE OF HISTORY
Posted by theinvesmentman in ACCRA, Africa, Ali Mazrui, Business, Business and Economy, ECOWAS, Get rich quick, Ghana, Government, investment, Kumasi, Kwame Nkrumah, Nigeria, Uganda, Uncategorized, United States, University of Ghana, US, usa
ACCRA, Africa, Ali Mazrui, Business and Economy, ECOWAS, ghana, Government, Kumasi, Kwame Nkrumah, Nigeria, Uganda, United States, University of Ghana, USA
By Akwasi Agyeman-Dua (Local Journalist & Media and Advocacy Advisor)
History is defined as "The study of past events, particularly in human affairs". The eminent Kenyan scholar, Professor Ali Mazrui, many years ago (in the early 1970's) in an article in the "Transition" Pan-African magazine then published in Uganda, wrote, "I am not a historian but like the rest of us, I am a product of history. I therefore take interest in what men have done in the past and the causes and consequences of those past actions".
He goes on to say that, "Reading our own history is of course, quite fundamental but never enough. We must also read the history of others, discover the sources of their achievements and the causes of their failures". History in every aspect of life is indispensable in reviewing the past, confronting the present and predicting the future.
History is as old as the beginning of creation and mankind. Its lessons are good for progress and human development. History is about people, men, women and children. It's about good people and bad people; dictators and philanthropists; sportsmen/women, etc. It is about families, groups and nations. It is about what people have done and may likely repeat in the future. There is a popular axiom which says, "History repeats itself".
The great good book, the Bible, tells us that there is nothing new under the sun. As a school discipline or social study course, history appears boring to many people. It entails a lot of reading and sometimes memorizing of important dates. However unless anybody or group of persons are serious with their history, they are likely not going to make a serious headway with their future. Mrs Coretta King of the USA was right in saying that "As a nations honours its heroes and heroines, it interprets its history and destines its future". The USA and many developed countries have very learned history scholars who try to study their country's past historical issues and document current events. Ghana could sometime ago boast of eminent historians like Professor Adu Boahen and Dr. Kofi Buah. We still have some historians and history scholars working on the quiet in this country. They include Profs. Irene Oddoteye and Akosua Perbi, who are associated with the University of Ghana, Legon. They and others like them ought to be supported in their work of recording the country's current history.
Scholars and governments in developing countries must review their attitude to the study and utilization of history in advancing national development goals. It has been said that "Experience is a good teacher". History is full of experiences and the wise person would learn from experience while a fool would not and could thereby suffer serious consequences. History can help shape the values of a family, an organisation, a school or nation. Our educational system must be well-rounded to ensure that we groom our people to compete realistically on the global market as Africans and not as half-baked and seemingly second-rate Westerners.
We all have to consider and confront our history, as individuals or groups of persons, from nations to groups of nations like the ECOWAS, Africa Union or the UN. Always remembering that "It is only the fool who would not learn from experience". The Ghanaian Akan proverb says, "Tete wo bi ka, tete wo bi kyere" (Literally translated "Our forebears have something to tell us and teach us"). Prof. Ali Mazrui admonishes that "We study history in order to understand ourselves. But we should also study it to be wiser, more humane, less rash, certainly less brutal and often with an eye on the future". "A word to the wise is enough", so said the wise old man/woman in your village and mine.
AKWASI AGYEMAN-DUA
P.O. Box C991
Cantonments, Accra
E-mail: aadua061@yahoo.com
Futuristic Folklore in James Town, Ghana (africasacountry.com)
Ghana's NHIS is a model for Africa – Sylvester Mensah (modernghana.com)
The slave forts of Elmina in Ghana (travelstreet.wordpress.com)
Russian Chief Justice injured in motor accident in Ghana (modernghana.com)
IU and MMWC in Ghana (jasonbairdjackson.com)
Pioneering African Game Development Studio Rebrands from Leti Games to Leti Arts (letiarts.wordpress.com)
Our Premier League -GHPLLIVE (jamessowah.wordpress.com)
UK lauds Ghana's leading role in sub-region (ghanabusinessnews.com)
Zimbabwe To Part Take In Wafu Tournament In Ghana (spyghana.com)
Kojo Bonsu Should Call His Cronies To Order (thechronicle.com.gh)
Investment News: Sirius Minerals, Genel Energy, French Connection & more
Posted by theinvesmentman in ACCRA, Africa, banks, Business, china, CLS Holdings, DNO International, Energy, FlyBe, Genel Energy, Get rich quick, Ghana, investment, Kurdistan, Petra Diamonds, Tom Albanese, Turkey, Uncategorized, Vedanta Resources
Business, China, CLS Holdings, DNO International, Energy, FlyBe, Genel Energy, July, Kurdistan, Petra Diamonds, Tom Albanese, Turkey, Vedanta Resources
Equities have leapt out of the blocks this morning following news of Larry Summers' withdrawal as a candidate for the next chairman of the Federal Reserve, something The Trader Dominic Picarda is pretty happy about.
Sirius Minerals (SXX) has confirmed its adjusted plans for submission of its planning application for a proposed potash mine in the North York Moors National Park. Sirius will now pull together all the elements such as the mine itself, transport and pipelines to consider the overal environmental impact. The first elements of this will be submitted for consideration by next July.
Genel Energy (GENL) reports that its Norwegian partner DNO International has begun extensive testing of the Tawke-23 well in Kurdistan, which will further extend the hugely prospective Tawke field. Buy.
Trap Oil (TRAP) has informed investors that the production problems on the Athena field which had previously been notified, have not yet been rectified and are unlikely to be sorted out until the fourth quarter. Production has been reduced by 1,400 barrels a day as a result to 7,500 bopd, of which 1,125 bopd is net to Trap. Our recommendation is under review.
Leyshon Resources' (LRL) financial figures today reveal little, given that the business is still in exploration mode on its Zijinshan gas project in China. But the company confirmed that plans to demerge its energy assets, including the China gas interests, from its minerals mining businesses is well under way and the new business will seek an Aim listing. Buy.
CLS Holdings (CLI) has confirmed the acquisition of a portfolio of 34 properties for a total of £118.6m. The majority of the properties are rented out to the government or government agencies and the portfolio brings in £15.1m in annual rent. We keep our buy rating on CLS.
Vedanta Resources (VED) has appointed former Rio Tinto chief executive Tom Albanese as chairman of its subsidiary Vedanta Resources Holdings.
French Connection (FCCN) has reduced losses marginally to £6.1m in the half year to July as the team appointed to turn around the business begin to see some results. Revenues dropped by 6.4 per cent, due to weakness in wholesale and the UK/Europe business. Like for like sales were 4.5 per cent lower but this was partly driven by a conscious decision to shorten the sales period and sell more clothes at full margin.
Petra Diamonds (PDL) enjoyed a 27 per cent hike in revenues in the year to June and a 36 per cent rise in adjusted pre-tax profits to $122.4m. This was primarily driven by a 21 per cent increase in production over the year with the company predicting a further 12 per cent increase in the current year.
Petrofac (PFC) has been awarded a $120m contract for the operation and management of two training facilities for the staff of Malaysian national oil giant Petronas.
San Leon Energy (SLE) confirms that the first fracturing of its oil interests in Poland. Fraccing at Lewino-1G2 produced a 'small, consistent flow of burnable gas' which was described as 'very encouraging' by the company and at Rogity-1 the fraccing also produced a 'highly encouraging' flow.
Airline FlyBe (FLYB) has made some management changes as it looks to accelerate its reorganisation. Three senior managers left on Friday as a result of the decision to amalgamate the two divisions, FlyBe UK and FlyBe outsourcing solutions, into one structure.
Genel Energy says UBS excited by Kurdistan well results (theoilandgasman.wordpress.com)
Genel Announces Declaration of Commerciality for Miran (iraq-businessnews.com)
Genel Sees Kurdish Oil Output Rising in 2014 on Pipeline Exports (bloomberg.com)
Genel Energy Announces Declaration of Commerciality for Miran Field (oneiraqidinar.com)
DNO International setting records in Iraq (upi.com)
Iraqi Kurdistan opens oil trade route via Iran (worldbulletin.net)
Oil Pipeline From Kurdistan Makes Gulf Keystone Target: Energy – Bloomberg (bloomberg.com)
SMALL CAP MOVERS: Investors remain bullish (thisismoney.co.uk)
Peak oil review – August 5 (resilience.org)
Genel Energy announces half year unaudited results for the six months to 30 June 2013 (oneiraqidinar.com)
WHY GHANAIAN BANKS CAN'T FUND MAJOR OIL AND GAS DEALS
Posted by theinvesmentman in ACCRA, Africa, Amalbank, Bank of Ghana, banks, Business, China Development Bank, Get rich quick, Ghana, Ghana Commercial Bank, Ghana National Petroleum Corporation, investment, Jubilee, Minimum capital requirement, Nigeria, Shell Nigeria, Uncategorized
ACCRA, Africa, Amalbank, Bank of Ghana, China Development Bank, ghana, Ghana Commercial Bank, Ghana National Petroleum Corporation, Jubilee, Minimum capital requirement, Nigeria, Shell Nigeria
Ghana discovered oil in 2007 and actual production started in 2010 at Jubilee field in the Western Region, which is about 290km from the capital, Accra. The lead operator on the field is Tullow Ghana Limited with other partners being Kosmos Energy, Anadarko Corporation, Sabre Oil and Gas (a wholly-owned subsidiary of PetroSA) and GNPC. The field currently produces about 110,000 barrels per day (bpd) with one vessel-the FPSO Kwame Nkrumah.
Since then, a lot of other discoveries have been made on the Jubilee field. The Ghana government in May this year approved a second field-the Tweneboa-Enyenra-Ntomme (TEN) project. It will also be operated by the Jubilee partners and when it comes on stream, the partner's estimate it will produce 80,000 bpd.
According to the lead operator in the field Tullow Ghana Limited, the development of the TEN Project will require the drilling and completion of up to 24 development wells which will be connected through subsea infrastructure to a Floating, Production, Storage and Offloading vessel (FPSO).
All these upstream activities require heavy project financing before the first oil from the field is poured in 2016, as planned. It is reputed that the Jubilee partners will spend a total of $4.6billion dollars before the first oil can be poured from the TEN field. If true, this figure could be far more than the total asset base of Ghanaian banks put together. The Jubilee field infrastructure was secured mainly through international banks and other finance sources.
Secondly, Ghana whose economy is set to grow at around 7.5% this year, is building a Gas Processing Plant in Atuabo in the Western Region, about 290 miles from the capital, Accra. The total cost of the project is put at $980million and is being funded by the Chinese government through the China Development Bank (CDB). The project has delayed many times due to funding issues. Ghanaian banks were not involved in the financing ostensibly due to the substantial amount involved.
Funding infrastructure in the hydrocarbons industry (oil and gas) is very capital intensive. For instance, Shell Nigeria projects to
There are 27 universal banks in Ghana at the moment with fewer than ten being Ghanaian-owned. The rest are from other African countries notably Nigeria with the rest of the banks being foreign owned.
The Bank of Ghana increased the minimum capital requirement for all banks to GHC60million ($29.4million) in 2012. The foreign owned banks easily met this requirement because they received money from their parent banks. Although some of the indigenous banks met the minimum requirement early, others struggled and had to fall on capital placements from foreign sources before satisfying the requirement. A few takeovers and mergers took place like Access Plc acquiring Intercontinental bank, Ecobank Transnational took over TTB and Bank of Africa buying out Amalbank.
But Ghanaian banks lose out on big-ticket deals in the oil and gas industry due to their smaller scale and size.
Indigenous banks do not have bigger scale in terms of capital and asset size. This means whenever there is the need to undertake big-ticket transactions like funding the annual Ghana COCOBOD cocoa purchases or the mining sector or energy projects, the foreign-owned banks dominate.
Some of the reasons so far available for this problem are:
Low capital base/capacity of the indigenous banks
Capital-intensive nature of the oil and gas sector, especially Deepwater exploration. Jubilee partners' supposed $4.6billion investment on the TEN project is an example.
Long lead time/gestation period between licensing, exploration and actual production of oil discourages banks from long-term project financing. Shell Nigeria estimates that it takes between 10-50 years between when a company is licensed to when actual oil production takes place.
Banks have short term focus and cannot fit in with oil sector's long gestation period. They thus focus on government securities like bonds and treasury bills, and secured commercial loans to the formal sector.
What is being done about it?
The Bank of Ghana, the industry regulator, last month announced that the minimum capital requirement for new banks will be increased from GHC60million ($30million) to GHC120milion ($60million) henceforth.
This year, major international banks such as Citibank and JP Morgan indicated that they will open office in the country. This is a good development but these international banks should also invest in local banks or takeover some of them. This is because the banking industry is one of the most profitable industries in the country. The annual results of many banks released this year showed that many banks made over 100% profits. Ghana Commercial Bank for instance made a record 500% profit in the past year.
As the country's economy, the second biggest in West Africa, starts to grow, the financial sector will play a major role and banks with big balance sheets stand to be the biggest beneficiaries.
FPSO shutdown to cut Ghana oil production to 95,000 barrels – Tullow (ghanabusinessnews.com)
Tullow Ghana likely to takeover Tema Shipyard (ghanabusinessnews.com)
Jubilee Oil Field Shuts Down (modernghana.com)
Ghana Needs Robust Regulations For Its Financial Market (spyghana.com)
Bank of Ghana announces new minimum capital requirements for new entrants (ghanabusinessnews.com)
Bank of Ghana to raise minimum capital requirement for rural banks (ghanabusinessnews.com)
GH¢120m required to establish a new bank in Ghana (spyghana.com)
Rural Banks Minimum Capital Requirement To Shoot Up To 100% (spyghana.com)
Agotime celebrates annual Kente festival (modernghana.com)
BoG to set modalities for 100% hike in rural banks minimum capital requirement (ghanabusinessnews.com)


text:
≡Democracy Cuba
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OBAMA IN CUBA: HOW "POLITICAL PRISONERS" MADE THE MEDIA HEADLINES
by Arnold August, Havana
The Citizen, India. March 26, 2016
In the course of President Obama's visit to Cuba on March 20–22, 2016, the issue of supposed Cuban "political prisoners" took centre stage in Cuba–US relations for at least 24 hours in much of the international mainstream media. The sets of international foreign television outlets were situated on a floor of the emblematic Lonja del Comercio (the fully renovated former Stock Exchange in pre-revolutionary Cuba) overlooking Old Havana. A cacophony of phrases from the reporters about political prisoners emanated from the sets. It seemed that "Obama in Cuba" had become equated with "political prisoners." The only exception appeared to be TeleSUR, based in Caracas, Venezuela.
How did this come about? In the joint press conference offered by Presidents Raúl Castro and Barack Obama on March 21, Obama stated in reference to the discussions with the Cuban government:
"...as we do wherever we go around the world, I made it clear that the United States will continue to speak up on behalf of democracy, including the right of the Cuban people to decide their own future. We'll speak out on behalf of universal human rights, including freedom of speech, and assembly, and religion."
The tone of the US President's remarks, couched in a very diplomatic speech, was not overtly hostile and did not contain accusations as such against the Cuban government. There was no mention of political prisoners. One can say, as indeed Obama himself stated, that this is the basic narrative of the US when dealing with some countries. However, the haughty White House-lecture to Cuba on democracy and human rights, as many Cuban colleagues justifiably consider it to be, are based on the exclusive notions held by the US of democracy and human rights. They are often directed to some Third World countries on a very arbitrary basis with varying emphasis and priority depending on the affinity of these countries to US foreign policy.
President Barack Obama and CNN White House
Correspondent Jim Acosta.
After the presentations by the two heads of state in the joint press conference, the floor was opened to questions from the large number of international and Cuban journalists. Obama immediately recognized the source of the first query: Jim Acosta, the Senior White House Correspondent for CNN. As Acosta indicated in his introduction to his question directed to Raúl Castro, he is a Cuban-American whose parents left Cuba. Such a prelude may serve as credentials, in the eyes of a reporter, to ask any question. This would allow for the ensuing interrogation to be carried out despite the reporter's virtually non-existent knowledge about Cuba, which has been circumscribed by his deeply ingrained preconceived US views of Cuba.
Obama completed his remarks in this way, according to the official White House transcript:
"Muchas gracias. Thank you very much.
First question, Jim Acosta."
Acosta addressed his first question to Barack Obama, and then asked Raúl Castro:
"And, President Castro, my father is Cuban. He left for the United States when he was young. Do you see a new and democratic direction for your country? And why [do] you have Cuban political prisoners? And why don't you release them?"
Response by President Castro:
"Give me the list of political prisoners and I will release them immediately. Just mention a list. What political prisoners? Give me a name or names. After this meeting is over, you can give me a list of political prisoners. And if we have those political prisoners, they will be released before tonight ends."
This question and response then immediately travelled virtually around the globe as headline news, but centred mainly on the US as the protagonist of Cuba. The airwaves were jammed with this controversy. The issue of political prisoners completely dominated international conglomerate news on Cuba for at least 24 hours.
Obama did not have to mention political prisoners, which would have been considered by both the White House and the Cuban government a breach of protocol and diplomatic behind-closed- doors negotiations and exchanges – which is a positive feature of the new Cuba–US relations. Conveniently for the President, the CNN Senior White House Correspondent raised the question for him. However, by Obama's body language and the look on his face, he seemed to be very satisfied with the question.
Does this mean that it took place as a result of collaboration between the White House and Acosta? Obama and Acosta know each other very well. The CNN correspondent's role not only brings him regularly to the White House, but has also called for him to travel with the President on many occasions around the globe. Despite this intimate relationship, however, there is no need for them to carry out any conspiratorial agreement.
Noam Chomsky analyzed this dynamic many years ago in his groundbreaking book Manufacturing Consent, based mainly on the study of the US media. He pointed out that mainstream monopoly media are guided by:
"...the selection of right-thinking personnel and by the editors' and working journalists' internalization of priorities and definitions of news-worthiness that conform to the institution's policy."1
These journalists know exactly what to ask in press conferences, what to write and what to broadcast in order to not only maintain their jobs as correspondents, but also to climb the ladder toward ever more lucrative income and prestigious positions. For example, had Acosta asked the US President – in the multitude of news conferences at the White House touching on a wide variety of issues – about the hundreds of political prisoners in the US, would he have even been around to travel to Havana with the President? If Acosta had had this gumption and interest in human rights as practised in the US, he would not even have been "selected" – in Chomsky's words – in the first place.
In an earlier article, I wrote about Secretary of State John Kerry's visit to Cuba on August 14, 2015 to officially hoist the US flag in front of the reopened US Embassy as part of the re-establishment of diplomatic relations between the US and Cuba. One of CNN's most prestigious anchors, Jake Tapper, was sent to Cuba to cover the event. The article exposes how virtually all the television reports consisted of little more than a litany of buzzwords about Cuba being a "dictatorship" and the "Castro brothers' tyranny." This was, of course, amplified and repeated by other anchors in the US-based CNN headquarters in their treatment of this event.
In all fairness, however, one has to admit that not all CNN reporters deal with Cuba with such flagrant media disinformation that borders on hysteria. For example, Chris Cuomo, a high-ranking CNN anchor, is the brother of the current Governor of New York, Andrew Cuomo. Governor Cuomo recently visited Cuba as the head of a high-ranking political and business delegation. He thus has good and respectful relations with the Cuban government. When CNN's Chris Cuomo covered Pope Francis's visit to Cuba in February 2016, the rants by his CNN colleagues against the Cuba government and "the Castros" were not at all present. Cuomo was also part of the large delegation of CNN reporters covering the Obama visit. We can perhaps examine his reporting on another occasion. However, suffice it to write for the moment that he wore a traditional Cuban guayabera shirt, given to his father by Fidel Castro.
As for Acosta's role in Havana in March 2016 and other similar situations that unfortunately seem to be a main feature of CNN, what can one conclude? Primarily the relationship between CNN and the White House can be thought of as not that CNN has a senior correspondent in the White House, but rather that the White House has a trusted correspondent at CNN. This is a very strange situation for a country that lectures others about the need for "independent press and journalists."
With regard to political prisoners, it seems that no journalist – to the knowledge of this writer – has yet taken up Raúl Castro's challenge to furnish facts to back up Acosta's accusations. Given that the media war being waged by the US against the Cuban people is an ongoing news story, we can expect there will be more to say on the matter.
1 Edward S. Herman and Noam Chomsky, Manufacturing Consent: The Political Economy of the Mass Media
Source, The Citizen, India: http://www.thecitizen.in/index.php/NewsDetail/index/1/7236/Obama-in-Cuba-How-Political-Prisoners-Hit-the-Corporate-International-Media-Headlines
To read more articles by Arnold August on Cuba-US Relations, click here.
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…this your stress-free holiday photo shoot outfit guide for the kids. We've got you covered with some of our favorite color-coordinated outfit inspo for the littles, and in our new favorite color...indigo.
We love indi's signature deep blue hues for a twist on the classic red and green holiday palette. Consider their plaid pieces like the hand woven Matty shirt, or the Nova tee. Pair either with the Nico 5 Pocket jean for a casual and coordinated family look, and voilà...say cheese!
For indi designer and founder, Matt Aprile, indigo is more than a color. It's a vehicle for creating change within the fashion industry. Each garment is hand-made by artisans using natural indigo dye. Pieces are wearable works of art, rich in detail and thoughtfully constructed for active little ones.
…was inspired to launch the brand after having kids of his own. A 15-year career in fashion had frequently brought him to factories in countries where labor costs are low and poverty is high. "Seeing chemicals in the gutters and polluted rivers forced me to think about how the industry was impacting the lives of the children living in communities around the factories and beyond, not to mention what was going into the clothing that our children are wearing," Aprile said.
Indi is the manifestation of Aprile's desire to heal some of the wounds inflicted by fast fashion. The pieces are constructed with organic yarns and fabrics, and natural dyes to reduce pollution. Indi re-invests 20% of the cost of every garment it produces into children's education and empowerment programs. And, by working directly with artisans, the company can eliminate middlemen and pay fair wages to the people making the clothing.
Knowing what indi stands for, the whole family has even more reason to smile for that camera.


A couple of things: This is the first time anyone has said where our heroes are going to, beyond the train ticket to the city of Jostrenet. The Free Islands are halfway across the world, and were established by ex-patriots of the Great Republic at the end of the Accordance War, 50 years ago.
Hey it's a new comic! Thank you for continuing to throw money at me to make these!