Month: February 2008
OPEC freezes oil output amid cooler prices
OPEC freezes oil output amid cooler prices
(AFP) 1 February 2008
VIENNA – OPEC left unchanged its oil production ceiling on Friday, snubbing US demands for an increase as the cartel focuses on supporting prices which have fallen 10 percent since the start of the year.
‘We all agreed to keep things as they are,’ Nigeria’s Minister of State for Energy, Odein Ajumogobia, told reporters following conclusion of OPEC’s meeting in the Austrian capital.
Saudi Arabia, the oil cartel’s most influential member and the world’s biggest producer of crude, said on going into the meeting that it saw no need to change official output of the Organisation of Petroleum Exporting Countries.
‘Had there been a need to take any measures concerning supply and demand, we would have taken them. But the current situation shows that the market fundamentals are sound,’ Saudi Arabian Oil Minister Ali Al Nuaimi told the pan-Arab daily Al Hayat in an interview published on Friday.
OPEC, which pumps 40 percent of world oil, decided to keep official daily output at 29.67 million oil barrels.
A freeze is be a snub to the United States after President George W. Bush recently urged OPEC to increase output to help bring down high oil prices that stunt economic growth and fuel inflation.
However, lower oil prices are not welcomed by crude producers as their export income drops.
Since striking a high above 100 dollars at the start of the year, the price of oil has slid owing to fears of a US recession and a global economic slowdown. But crude futures are still almost double the level of a year ago.
A US recession would dent demand for crude in the world’s biggest energy market and send oil prices sliding further, OPEC fears.
Kuwait’s acting oil minister, Mohammed Al Aleem, had said Thursday that the 13-member OPEC was ‘a little worried about the impact of a slowdown or a recession in the United States’ on oil prices.
‘The price, for the time being, has been going a little bit down,’ he said.
‘Within three weeks, it’s been about 10 dollars. We have to see why, what the problem is, and whether it’s going to continue at the same pace.’
New York’s main oil futures contract, light sweet crude for delivery in March, was 41 cents lower at 91.34 dollars per barrel following OPEC’s output decision.
This compared with a record high of 100.09 dollars reached on January 3.
‘We have no option now’ but to hold output, Qatar’s Minister of Energy and Industry Abdullah bin Hamad Al Attiyah had said on his arrival in Vienna on Thursday.
‘We are very concerned about the world economy … The American economy will (influence) oil prices,’ he told reporters.
OPEC’s meeting on Friday was an extraordinary get-together that was scheduled at the group’s last official gathering on December 5 in Abu Dhabi.
There, OPEC decided against increasing production, insisting the market was well supplied and that high prices were caused by speculative activity, not a reaction to the demand and supply situation.
The next OPEC meeting is due next month in Vienna.
OPEC comprises Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.
Iraq is the only member without an output quota owing to unrest in the country, while analysts say OPEC is in fact producing above its official ceiling by about 180,000 barrels of oil each day.
Sarkozy: Low on dignity, high on humanity
Sarkozy: Low on dignity, high on humanity
27 Jan 2008, 0047 hrs IST,Shashi Tharoor for TIMES OF INDIA
It is curious that even in the Indian media, the build-up to the visit this week of France’s president Nicolas Sarkozy focused quite so obsessively on his personal life. Had he secretly married the Franco-Italian model-singer Carla Bruni? Was he going to bring her to New Delhi as First Lady?
Such were the questions that dominated press articles about the impending arrival in India of a major political figure – and that was odd, not merely because there were more important things worth analysing on Franco-Indian relations, but because the Indian press has traditionally drawn a discreet veil over the private lives of our politicians.
Indeed the disconnect between what our journalists and editors claim to know about politicians and what they are willing to write about is rather striking. Members of the media talk quite openly (at least in living-room gossip) about things that in other countries would be the basis for investigative exposes.
I remember a very senior editor telling me, many years ago, about the alleged habit of a certain distinguished Scheduled Caste cabinet minister, while on tour around the country, of having Brahmin girls procured in each location for his nocturnal pleasure. When I asked why, if this was common knowledge, the editor’s own paper had never reported it, he looked quite startled and said, “We don’t do that sort of thing, my boy.”
So, journalists will tell you quite cheerfully that a certain former prime minister had lived most of his adult life in a menage-a-trois with his lady love and her complaisant husband, while continuing with a straight face to describe him as a bachelor. A senior minister lives openly with a political colleague, but she is described only as his party’s president, never as his companion. This is the Indian way: the private lives of public figures are deemed to be their business, not the public’s. And perhaps that is how it should be.
After all, that was how it used to be in the West; the sexual peccadilloes of assorted American presidents were simply not discussed until the Lewinsky scandal blew the veil off the Clinton White House.
In France, too, presidents were understood to be discreetly pursuing their extra-marital interests, but the press never discussed such stories; it was only upon the death of president Francois Mitterrand, for instance, that it was revealed he had maintained a long-time mistress and had had a daughter by her, whose appearance at his funeral was the first public acknowledgement of her existence. President Sarkozy’s own relationship with a well-known journalist – who even lived with him when his wife briefly left him – was never reported. So, what has happened to change all that?
Very simply, the president himself has opened his private life to public scrutiny. He has not merely conducted a romance with a media figure; he has flaunted it, taking his lady love (a model and singer) on overseas visits and being photographed with her, visiting tourist sites, holding hands, embracing. The media, invited to indulge its prurience, has lapped it all up.
But what our press seems to have missed in reproducing foreign news agency copy about the president’s indiscretion (and its negative effect on his standing) is the simple possibility that Sarkozy’s actions fit perfectly with a deliberate strategy to transform his office. What Nicolas Sarkozy has systematically done since his election is to take the French presidency, long known for its grandeur and its distance from the people – a presidency occupied by older men who rarely deigned to give press conferences and who would never have been praised for their accessibility – and to reboot it.
And what a reboot this has been. Superficial commentary has called Sarkozy “President bling-bling” and “the People magazine President”, but what he has done is to harness the power of popular imagery to the popularisation of his office. He has personalised the presidency, hyperactively launching and announcing his own initiatives in a dizzying array of fields, but if the presidency is a person, that person must transcend the presidency, or at least its familiar rituals and trappings.
Sarkozy has humanised his office by televising his presidential and personal life; instead of adapting himself to the presidency, he has adapted the presidency to himself, individualising his political power in an increasingly individualist society. The proliferation of media in the 21st century has made voyeurs out of every citizen. Sarkozy is the first major office-holder to realise this, and to cater to it for his political purposes.
To get on the front page with Carla Bruni is as relevant as making headlines with a State visit; the presidency is no longer a symbol, it is a flesh-and-blood man. Sarkozy gives the media just enough to make them more interested than they ever were in any of his predecessors, but not so much as to devalue his office (hence the secrecy about his marriage itself). It is almost as if Princess Diana was holding Tony Blair’s job.
This has, paradoxically, strengthened the presidency in France; in the Information Age, the French president is omnipresent in the information media. In speeches, press conferences, restless trips at home and abroad, interviews and meetings, he sets the agenda, announces policies, and takes initiatives that challenge established orthodoxies; the French now talk of “hyperpresidentialisation”. Sarkozy’s self-exposure fits into the plan; by revealing so much of himself, he reduces the distance between the presidency and the people.
Democracies increasingly like citizens to believe they have control of their own destinies by placing them in the hands of leaders they can relate to. Sarkozy is no remote seigneur; he is “one of us,” with his own passions, disappointments, needs. Conducting a public romance may have reduced the dignity of the presidency, but Sarkozy is president for an era in which dignity is less important than humanity. And few presidents have shown themselves to be as human, in every sense of the term, as Nicolas Sarkozy.
Police rescue two window cleaners stuck outside building’s 13th floor

Police rescue two window cleaners stuck outside building’s 13th floor
By Marten Youssef, Staff Reporter GULF NEWS Published: January 31, 2008, 17:20
Abu Dhabi: The Abu Dhabi police team undertook an unconventional and daring rescue on Thursday of two men who were stuck outside the 13th floor while washing the building’s windows.
The authorities blamed a power failure on the two men being stuck.
“We had four options. We could try to put electricity back to the building. We could try to reach them with our ladders, through the roof or pull them through the window,” Fabian Dyck, a member of the rescue team said.
Hundreds of people watched the rescue attempts outside the Union Bank building on Electra Street. After three failed attempts to reach the two stranded workers using the ladders of fire brigades, the rescue team decided to pull the men through the nearest window.
Third attempt
“This is the third time we tried to reach them but our ladders are just too short,” Dyck said.
Just eight metres shy of reaching the two stranded men, the rescue team changed their strategy and handed harnesses to the workers as they pulled them through the window of one of the residents.
The two men were rescued and taken by ambulance to a nearby hospital. Police said there were no physical injuries to the men.
Dubai gets new crown prince – His Highness Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum

Dubai gets new crown prince – His Highness Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum
DUBAI: Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the brother of Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum, has been appointed as Crown Prince, an official decree said in Dubai on Friday.
Vice President and Prime Minister of UAE Sheikh Mohammed bin Rashid Al Maktoum issued a decree in his capacity as the Ruler of Dubai, appointing Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum as the Crown Prince of Dubai, the official Emirates news agency said.
Sheikh Mohammed also named Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and Sheikh Hamdan bin Rashid Al Maktoum as Deputy Rulers of Dubai with effect from Friday.
The new crown prince is presently Chairman of the Dubai Executive Council, which oversees Dubai Government entities.
Born on 14 November, 1982, Sheikh Hamdan studied at the Rashid Private School, Dubai. After graduation, he went to UK’s Sandhurst Royal Military Academy.
He has attended specialized courses at the London School of Economics and the Dubai School of Government.
Sheikh Hamdan is also the president of Dubai Sports Council, Dubai Autism Centre and the Sheikh Mohammed bin Rashid Establishment for Young Business Leaders.
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