Thursday 30 October 2008

Equatorial Guinea’s exiled opposition leader, Severo Moto, has been arrested in Spain after allegedly trying to transport illegal weapons

Equatorial Guinea’s exiled opposition leader, Severo Moto, has been arrested in Spain after allegedly trying to send illegal weapons to the oil-rich African nation.
The arrest was the latest twist in a tangled case that has implicated figures such as Mark Thatcher, the son of the former British Prime Minister, and Simon Mann, the Eton-educated mercenary, who is facing trial in Malabo for his alleged role in a failed 2004 coup attempt. Mr Thatcher, who now lives on the Spanish Costa del Sol, was given a suspended jail sentence after he pleaded guilty to unwittingly financing the coup attempt and breaking the anti-mercenary laws of South Africa. The arrest of Mr Moto raises questions about whether a fresh coup attempt was under way.
According to Spanish court sources, he was arrested on Monday on the orders of a judge after weapons were found in the boot of a car in the port of Sagunto, near Valencia, on March 6. Mr Moto has run a self-proclaimed government-in-opposition from Spain, where he has had political asylum since 1986. He was sentenced in absentia to 62 years in prison in Equatorial Guinea for his alleged role in the failed coup against President Teodoro Obiang Nguema. His status as a political refugee was revoked by Spanish authorities in 2005 after they accused him of using the country as a base for several coup attempts against the Government in Equatorial Guinea. The Spanish Supreme Court overturned the ruling on appeal last month, stating that Mr Moto posed no danger to Spain. Mr Moto has denied any role in the attempted overthrow of the Government. Critics have accused the Spanish Socialist Government of being too close to the regime of Mr Obiang, which is considered to have one of the worst human rights records in Africa. The former Spanish colony is the third-largest African oil producer. Equatorial Guinea issued an international arrest warrant for Mr Thatcher last month, accusing him of being a prime instigator behind the plot to overthrow Mr Obiang on behalf of Mr Moto, in return for access to the oil wealth of the country. Mr Thatcher has admitted to paying $275,000 (£128,000) to charter a helicopter used in the coup attempt. He claimed he thought that it would be used for commercial purposes.
The prosecution in Equatorial Guinea said that Mr Mann implicated Mr Thatcher in the plot. It said: “Thatcher knew all about the operation. If we can gather enough evidence we will start a case against him.” Armengol Engonga, the deputy opposition leader in exile of Equatorial Guinea, urged caution yesterday over the arrest of Mr Moto.
“As long as we don’t know what this accusation is based on and the nature of the charges, we cannot say anything,” he told the AFP news agency. Mr Obiang has called parliamentary elections for May 4, about a year earlier than expected. The trial of Mr Mann, who was arrested four years ago, is expected to begin after the vote and could be embarrassing for Britain and Spain as he seeks to show he had official support for his alleged attempt to overthrow the Government.

Saturday 25 October 2008

BANKSY Art Destroyed,Westminster Council, which has voted to remove the 23ft high piece entitled One Nation Under CCTV

Jude Law, Angelina Jolie and Christina Aguilera are among those who have been prepared to pay high prices for one of his works. Westminster Council, which has voted to remove the 23ft high piece entitled One Nation Under CCTV from a wall in Newman Street, London, said it did not want to see the art destroyed, but was trying to take a stand against graffiti.
The mural depicts a red-hooded figure painting the words "ONE NATION UNDER CCTV" on the wall, while a US-style police officer holding a camera and a brown dog look on.
Deputy council leader Robert Davis said: "We are not saying the owners need to paint over this mural as we can see it has value in the right location, such as an art gallery. "We simply want it removed from this wall and the owner is perfectly entitled to remove it and sell it if they wish. "I take the view that this is graffiti and if you condone this then what is the difference between this and all the other graffiti you see scrawled across the city? "If you condone this then you condone graffiti all over London." The price of works by the elusive street artist have soared as his popularity has increased. Last night, a Banksy oil canvas, entitled Tesco Value Tomato Soup, was sold for £117,600 - smashing its £80,000 estimate at auction house Bonhams' Urban Art sale. Last year a drawing sprayed onto steel by the street artist sold for 20 times its estimate at £288,000.
Westminster Council said it was considering removing another Banksy mural to help fund council services. The slogan "What are you looking at?" appeared overnight opposite a CCTV camera in an underpass at Marble Arch. "We are currently considering what to do with another Banksy in an underpass at Marble Arch," Mr Davies said.
"One option would be to remove it and sell it and invest that money into council services." But not everyone has been happy to find Banksy's work adorning their property. Transport for London sparked a furore when it ordered its workers to paint over a piece by the artist which had appeared outside Old Street Tube station. The image, showing a scene from Quentin Tarantino's film Pulp Fiction, with Samuel L Jackson and John Travolta holding bananas instead of guns, was thought to have been worth £300,000. Speaking at the time the company said the work created a "general atmosphere of neglect and social decay which in turn encourages crime".

"European banks are five times more exposed to emerging markets than American and Japanese banks,"

"European banks are five times more exposed to emerging markets than American and Japanese banks," said Stephen Jen of Morgan Stanley. "Pressures on emerging market economies therefore could have a particularly negative boomerang effect on European banks." Concerns have suddenly shifted from liquidity and bad balance sheets to exposure to economies like Bulgaria, Latvia and Romania, where currencies are declining and economies faltering. In the last week, Eastern European currencies have slid by around 10.0%. The central banks of Hungary and Denmark have sought to prop up their currencies by raising interest rates, but the sell-off of emerging market currencies continued on into Friday. (See "Flight To Dollar And Yen.")
"Currency is what people are focusing on now because it can exacerbate the problem of nonperforming loans," said Pedro Fonseca, a senior analyst at Keefe, Bruyette & Woods. If, for example, a Polish borrower's mortgage is in Swiss francs, but they are earning Polish zloty, then they are more likely to default on the payments of their house if the zloty depreciates. Many European banks will now pull back on making these so-called FX loans, which are linked to low-yielding currencies like the Swiss franc. Such lending is popular among the Western European banks that dominate Eastern Europe, making up 52.0% of all lending in Hungary and 54.0% in Romania.

Croatian police continue to examine the crime scene of two murdered journalists in Zagreb.

Croatian police continue to examine the crime scene of two murdered journalists in Zagreb. Ivo Pukanic and Niko Franjic died after a bomb was placed under their car. The recent wave of mafia style attacks has prompted Croatia’s Prime Minister to act. Prime Minister Ivo Sanader said: ‘‘There is no need to declare a state of emergency in Croatia, but we will introduce extraordinary measures.’‘Pukanic, the owner of leading independent newspaper Nacional, had been targeted before in April, but escaped unhurt when a gunman opened fire outside his house. However Nacional, which often ran stories on organised crime, reported Pukanic believed he would be killed.
Earlier this month the daughter of a prominent Croatian lawyer was also murdered after being shot in the head. Croatia has been warned to tackle organised crime and corruption with the violence threatening to scupper its bid to join the EU.

Alexander Kindred,was arrested after HM Revenue & Customs (HMRC) officers intercepted him at Dover docks in Kent

Alexander Kindred, 55, of Glennturret Terrace, Perth, Scotland,sentenced to three and a half years in prison
He was arrested after HM Revenue & Customs (HMRC) officers intercepted him at Dover docks in Kent on April 26 last year.They discovered 4,229,200 cigarettes among the crates of biscuits, which he claimed had been loaded into the vehicle in Germany to be transported to the UK.A jury at Maidstone Crown Court heard that the revenue evaded on the tobacco amounted to £580,000.HMRC spokesman Bob Gaiger said: "We will not hesitate to take action against those dealing in smuggled goods and evading duty."This sentence will serve as a deterrent to others. Selling smuggled tobacco products is not a harmless tax fiddle - it cheats the Government of revenue, which can be used to fund vital public services, and jeopardises the trading of law-abiding tobacconists."

Russian regulators have halted Google's attempt to acquire one of the company's major online advertising firm.

Russian regulators have halted Google's attempt to acquire one of the company's major online advertising firm.Google may have broken through American and European governmental opposition to its high-profile mergers in the past, but a new attempt to partner with a Russian company has left the company stymied by Moscow. According to the New York Times, Russia’s antitrust authorities nixed Google’s attempt to acquire online advertising firm Begun on Friday.The proposed merger would have given Google access to a network with 40,000 advertisers across 143,000 Russian Web sites. The Federal Antimonopoly Service put a stop on the deal, but didn’t provide many details as to why, besides a generic desire to foster competition.“We are very disappointed to hear that FAS has come to this decision,” Google said in a statement, according to the Times. “We strongly believe that this acquisition will enable us to significantly improve opportunities for Russian users, advertisers and publishers as well as the entire industry.”Google had previously overcome the scrutiny of both American and European regulators to seal a deal with advertising firm DoubleClick in both respective markets.

Russia's wealthiest 25 individuals have collectively lost $230bn (£146bn).

Russia's wealthiest 25 individuals have collectively lost $230bn (£146bn). Tycoons like Oleg Deripaska - Russia's richest man and friend, we now know, of British politicians - have seen their fortunes vaporised. On paper, Roman Abramovich, the Chelsea FC owner, has suffered a $20.3bn wipeout. Alisher Usmanov, the Arsenal shareholder-tycoon has lost $11.7bn, Bloomberg estimates. Analysts say that private jets could soon be going for bargain basement prices, while some super-rich are scrambling to sell off their villas in Sardinia and Surrey. In Moscow, elite nightclubs have relaxed their strict entry rules - there aren't enough customers. The capital's top restaurants, meanwhile, have stopped accepting credit cards.Not that Russia's oligarchs are in the mood for entertaining. Since hosting Peter Mandelson and George Osborne on his yacht in Corfu this August, Deripaska has slithered into a classic Westminster political scandal. The aluminium magnate's British-related woes do not stop there: a former business partner, Michael Cherney, is suing him for $4bn in the high court. Rumours suggest he's even been forced to lay off his servants. A spokesman said Deripaska does not comment on private matters.
The twilight of the oligarchs is closely linked to the meltdown in Russia's stock market. Since May, Russia's RTS index has lost 71% of its value. It is no secret that Deripaska borrowed money from western banks using shares in his companies as collateral. The share price crashed; the banks then asked for their cash back. Deripaska is now in danger of being sucked into a black hole of debt. Others have money stuck in Iceland.Is, then, the era of the oligarch now over? Not everyone agrees with this thesis. But it does seem that Russia's rich are experiencing a moment of historical catharsis. After a giddy decade characterised by the acquisition of yachts, football teams, villas in Kensington, west London and the South of France, and even submarines, there is a distinct sense that Russia is moving into a different, more chastened, epoch. "My stocks were worth $1bn. They're now worth $300m. OK. So what?" says billionaire Alexander Lebedev, sitting on a brown leather sofa in his comfortable three-storey Moscow townhouse. Lebedev, a Russian businessman and former KGB agent unkindly nicknamed the spy who came in for the gold, is unperturbed by his loss of fortune. Until recently, he had $3.1bn - and was 39th on Forbes' list of Russia's top 100 billionaires. "It doesn't make any difference to my life," he says.Lebedev is also a former deputy in the Duma and a member of Russia's beleaguered intelligentsia. He says he has survived the crisis that has been aggravated by Russia's war in Georgia better than many of his peers. They took generous loans from Russian banks, bought shares, and then took out more loans from western banks against the value of these shares - a pyramidal arrangement that is now collapsing. Asked how Russia's oligarchs are bearing up, Lebedev is almost puckishly cheerful. He says: "They are suffering." He adds: "I think material wealth for them is a highly emotional and spiritual thing. They spend a lot of money on their own personal consumption."Lebedev is a patron of the arts and last week met Tom Stoppard, John Malkovich, and Kevin Spacey to discuss a new Chekhov festival in Crimea, Ukraine. In general, he is scathing of oligarchs as a class - describing them as a bunch of uncultured ignoramuses. "They don't read books. They don't have time. They don't go to exhibitions. They think the only way to impress anyone is to buy a yacht," he observes.Does he think the crisis might make Russia's elite reconsider their arguably solipsistic lifestyle and values? Lebedev thinks not. "[Friedrich] Nietzsche once said that when something doesn't kill you it makes you stronger. But it isn't applicable in this case," he says. Most oligarchs were not very interested in social injustice, he points out.This spring Forbes magazine estimated that Russia has 110 billionaires - a record. The top 100 had a combined wealth of $522bn - almost four times higher than in 2004, it said. (At the same time 18.9 million Russians live below the poverty line, federal statistics suggest.) According to Lebedev, some members of this exclusive list - known as the golden 100 - are now down to their last $100m, the über-rich equivalent of skid row. "Worst hit are the property developers," he says.

Paris Hilton is planning a permanent move to London.


Paris Hilton is planning a permanent move to London.
The hotel heiress is currently in the British capital filming her new TV show Paris Hilton’s My New BBF (British Best Friend). And she is ready to leave Hollywood for good and settle down in the UK.
She told friends, “I love it here, I am going to move here permanently. I have already been here for one month and am much, much happier here.
“I love guys with English accents. I have met a really cute English guy, but its early days.”
I can hear many people rejoicing with this piece of news. I am not rejoicing, just so you know. Do you honestly think the UK is going to allow Paris to move to London?
So maybe she didn’t commit a crime, but really, allowing Paris to move to London is like waging war to the UK.

Friday 24 October 2008

National Police officers received a tip off that the group was transferring ‘hashish’ in a van to the United Kingdom

The gang were stopped by National Police officers after they received a tip off that the group was transferring ‘hashish’ in a van to the United Kingdom. According to the National Police, they carried out operation ‘Rostel’ in a bid to stop the gang, after they discovered that there was an organised group based in south-east Spain who had managed to smuggle a large quantity, thought to be about a tonne, of the drug through a Murcian port. They said that they suspected the drugs were bound for the UK and that they expected it to be transferred in vehicles through France and across the Channel. Police discovered a member of the group getting ready to load a van at a villa in Garruchal, where one of the gang’s main members resides and following extensive investigation, they raided a house in the Benijófar area. They arrested three people at the house in Benijófar and found a van outside the house containing 500 kilograms of hashish. Later, following a judicial court order, the National Police raided the house in Garruchal and arrested two more people, as well as seizing a Russian manufactured pistol and removing a luxury car from the property for further investigation.

Wednesday 22 October 2008

1kg of heroin, Cleveland Police stopped a Vauxhall Vectra driving from North Yorkshire towards the Guisborough area and arrested the driver.

Officers from Cleveland Police stopped a Vauxhall Vectra driving from North Yorkshire towards the Guisborough area and arrested the driver.
A search of the vehicle discovered 1kg of heroin. At the same time, on Sunday afternoon, officers stopped a BMW on the A19 near Crathorne, near Yarm, before raiding addresses in Guisborough, Redcar and Middlesbrough, where cash and more drugs were found. In total, nine people were arrested for conspiracy offences, four males – three teenagers and a man in his 40s – and one woman in her 40s, have been released on bail pending further inquiries. The four men initially arrested, were charged with conspiracy to supply heroin and were remanded to appear at Langbaurgh East Magistrates’ Court. Detective Inspector Dave Mead, of Cleveland Police, said: “This was a very pleasing outcome to our investigation.

Tuesday 21 October 2008

CONSTRUCTION worker who was sexually harassed has been awarded a total of €49,700 by the Equality Tribunal.

CONSTRUCTION worker who was sexually harassed has been awarded a total of €49,700 by the Equality Tribunal. The worker took a case under the Employment Equality Act against his former employer - "a construction company" - for whom he worked from June 1996 until April 2006.He said he was sexually harassed and that the company "treated him in a discriminatory manner and victimised him when it changed his conditions of employment, placed him on sick leave and ultimately made him redundant," said equality officer Bernadette Treanor in her report.In 2000 and 2001, he complained about sexual harassment to his foreman, who took written statements from him and the alleged harasser."The only result of the complaint was that [he] was moved to another site. The complainant is satisfied that as as result of that early incident, his employers were aware of his sexual orientation," the report states.There were further incidents in May 2005, involving a number of workers for another contractor and he complained to their foreman. The men later approached him and apologised. "After these complaints which the complainant perceived as sexual harassment, incidents continued to take place," the report adds.Later in May 2005, his own foreman asked him what was going on. A few days later, the company director arrived on site to talk to him with the foreman. He was not told it was part of an investigation or that he could have someone with him at the meeting. At the meeting, he mentioned earlier suicidal thoughts that arose because of the incidents.The next day, he was told he was no longer to work at heights and he was asked to see the company doctor and later a psychologist. In November 2005, he was put on compulsory sick leave, which continued until May 2006 when he was made redundant. The firm said it was made aware in 2005 of "serious allegations of harassment by the complainant".
Advice was sought from the Construction Industry Federation and an investigation started. The worker and alleged harassers were interviewed. The firm's director was "genuinely alarmed" about the worker's statement about suicidal thoughts.The firm said its decision to put him on sick leave was due to a recommendation from their psychologist that he should not continue working. It was later recommended that he return to work, but there was less work available. Along with 35 other employees, he was made redundant.

One in 20 Irish people and almost one in 10 young people has taken cocaine

One in 20 Irish people and almost one in 10 young people has taken cocaine, a major all-Ireland study of the use of the drug has established.Men are twice as likely to use cocaine as women and regular and even daily use of the drug is increasing, according to the drug prevalence study carried out for the National Advisory Committee on Drugs (NACD). North Dublin, where almost 16 per cent of young people reported use of the drug, emerges as the country’s cocaine blackspot, but prevalence rates are rising steeply throughout the country.Use of the drug by 15-34-year-olds has risen five-fold in the north-eastern counties over the past five years, and more than three-fold in the midlands and the west. The vast majority of cocaine users start taking their drug in their early twenties and the most popular means of obtaining it is from friends and family, the study finds. One in four people said they knew someone who took cocaine, compared to 14 per cent in the last all-Ireland survey carried out in 2002/03. The study reveals that cocaine users are taking the drug more often, with one-in-four users snorting the drug once a week and 7 per cent reporting daily use. No-one reported daily use in the earlier survey. Overall lifetime use now stands at 5.3 per cent, up from 3 per cent in the last survey. Some 1.7 per cent of respondents reported using the drug in the previous year, up from 1.1 per cent, and 0.5 per cent said they had taken cocaine in the previous month, up from 0.3 per cent. “While these figures are of concern, we should not lose sight of the fact that they are reasonably low and that any perception that ‘everyone is at it’ is far from the true situation,” commented Minister of State with responsibility for drugs strategy, John Curran. The survey also shows that cocaine use varies greatly between different regions, with the highest rates recorded in the more densely populated areas in the east of the country, roughly from Louth to Cork. “The challenge is to ensure that the lower rates are kept at such levels while the problem is tackled comprehensively in the areas of higher use. Mr Curran said the risks attached to cocaine use were often ignored or underestimated by users. “Cocaine use is linked to heart conditions, strokes and to various other physical complaints that vary depending on the route of administration of the drug. Frequent (or long-term) use of cocaine can also have a powerful effect on the user’s mental health, through depression, anxiety, agitation, compulsive behaviour and paranoia.” He defended the efforts being made to tackle drug misuse, pointing out that the over €61 million was allocated to the area in last week’s Estimates. The Government is spending over €200 million on measures aimed directly at problem drug use, he said. Almost 7,000 people were surveyed north and south for the study, which was carried out between October 2006 and May 2007.

Taxi mafia, Forced to pay a thousand kroons for a ride from the city centre to the Tallinn Airport.

Italian friends promised recently never to return to Estonia after he was forced to pay a thousand kroons for a ride from the city centre to the Tallinn Airport.
“This is daylight robbery!” said the Italian who had not asked how much the ride would cost assuming that it would be normal price for a 15 kilometre ride. When arriving and being asked to pay a thousand kroons he asked the taxi driver for a price list which said 65 kroons a kilometer. “I pay twice less at home although the distance is three times longer,” he said.Sooäär writes that the lack of interest of Savisaar’s city government to stop such daylight robbery leads one to believe that this taxi mafia is secretly funding the City Government. According to the MP, Savisaar is not understanding that such problems affect the image of Tallinn as a tourist destination. Cities that are friendly to tourists have the taxi business under control.“Taxi is almost the first point of contact and the first impression of a tourist who arrives in Tallinn for the first time. We have renovated the airport terminal, but the taxi situation is the same. I don’t know any other town in Europe where the taxi business is so out of control. Many cities have established maximum allowed tariffs, but not Tallinn. So we have Laki Takso where a kilometer costs 5.90 kroons and on the other end FIE Fiat that charges 65 kroons per kilometer. Such gap is outrageous.”Sooäär says that while otherwise the state or government should not interfere with regulating free business, the situation with the tax business is different since it affects the whole image of the country. Moreover, there are reportedly areas in Tallinn Old Town where taxi drivers that do not pay to mafia cannot wait for customers. If they do they will have their tires punctured or may be beaten up. What’s worse is that the city has no control over who taxi companies hire as driver which means that even convicted criminals or people with bad traffic record may freely operate as taxi drivers.

Emilio Di Caterino, had become an informant. Di Caterino and his wife and three children are already in the witness protection programme

More and more important mobsters are turning state's evidence, the DNA said. Oreste Spagnuolo, one of a killing squad suspected in 15 murders over the last five months, ''inflicted a major blow'' to the clan when he decided to help the police earlier this month, investigators said. The DNA is confident of turning more Camorristi, they said. On Monday that another clan member, Emilio Di Caterino, had become an informant. Di Caterino and his wife and three children are already in the witness protection programme, it said.Camorra clan Italy has sent the army against is feeling ''hunted'' as turncoats desert it, Italian anti-Mafia police said on Monday. Hundreds of police and troops are stopping the Clan dei Casalesi from going about its business, the Anti-Mafia Directorate (DNA) in Naples said. ''They feel hunted and are having trouble on the ground,'' the DNA said.
The suspected leader of the Casalesi murder squad, Giuseppe Di Setola, heads the police's most wanted list. Despite his reputation for being the mob's top hitman, Di Setola is still trying to convince police he is in fact blind, the DNA said. They said he had sent a letter to a local newspaper claiming to be an innocent bystander, accompanied by a photo showing him with a bandage over one eye and leaning on a walking stick. ''He's trying it on again,'' the DNA said. The brutal empire of the Casalesi was exposed in a book by writer and journalist Roberto Saviano, who said last week he would have to leave Italy to escape their threats.Six Nobel Prize winners - Dario Fo, Mikhail Gorbachev, Gunter Grass, Rita Levi Montalcini, Orhan Pamuk and Desmond Tutu - wrote an open letter to his newspaper La Repubblica on Monday. They urged the Italian state to do more to protect the author of 'Gomorra', saying ''it is intolerable for this to happen in Europe in 2008''.

International Monetary Fund believes that more banks in the European Union could fail

The International Monetary Fund believes that more banks in the European Union could fail as efforts to raise additional capital begin to slow.According to the IMF's annual review of the European economies released on Tuesday, the need for banks to rely more on government support will grow as investors and sovereign wealth funds show less inclination to put money into banks and volatile money markets.

Three banks belonging to the Greek buyout firm Marfin Investment Group said they will not participate in the government's bail out.

Three banks belonging to the Greek buyout firm Marfin Investment Group said they will not participate in the government's 28 billion euro ($37.09 billion) bank rescue plan.The three are the first Greek banks to respond officially to the conservative government's plan, worth up to 11.4 percent of its GDP, to help lenders ride out the global financial crisis, although Greek banks had little exposure to toxic assets."Marfin Popular Bank (MRBr.AT: Quote, Profile, Research, Stock Buzz), Marfin Egnatia Bank EGMr.AT and Investment Bank of Greece do not need and do not intend to use any state aid of any nature whatsoever," they said in a statement.Banking sources said on Tuesday many Greek banks would not participate in the plan until they see the exact terms, although they welcomed it as a future safeguard.A senior finance ministry official said the draft bill with all details would be submitted to parliament by the end of the week. The plan enables the state to guarantee capital market loans and buy preferred shares in banks, while it sets a ceiling on banking executives' salaries, the ministry has said."There is a willingness from all banks to participate in this plan," said the official, who requested anonymity. "Our aim is to facilitate the economy in the future."
In other countries, banks participating in similar plans have had to give up their independence and limit executive salaries.

HSBC announced a $607m (£351m) deal in Indonesia yesterday which allows Britain's largest bank to double its presence in the world's fourth-most popu

HSBC announced a $607m (£351m) deal in Indonesia yesterday which allows Britain's largest bank to double its presence in the world's fourth-most populous nation.
The arrangement to buy an 88.9% stake in Bank Ekonomi follows frenzied speculation that HSBC would buy a troubled investment bank or bail out one of Britain's banks. Instead, it defied the rumours and stuck to its preference of making acquisitions in emerging markets. It is able to fund the deal from its own resources.
The transaction is the latest illustration of the banks' divergent approaches to dealing with a crisis that has forced Lloyds TSB, HBOS and Royal Bank of Scotland to raise capital from the government. Barclays, however, has bought the Wall Street businesses of collapsed Lehman Brothers in a signal it is determined to expand in the face of market adversity. Alex Potter, banking analyst at Collins Stewart, believes three strategic strands are developing. The first is the move by strong banks such as HSBC and French bank BNP Paribas to conduct deals in the mayhem. BNP Paribas is now the largest retail bank in Europe after buying assets from the distressed Dutch-Belgian combine Fortis.The second are those banks hunkering down for the financial crisis by taking government support and the third are the "select few that fall between the two - which externally look weak but have internal confidence", said Potter. Barclays, which has avoided the government-backed bail-out of the banking sector by promising to raise funds in the private sector, falls into this category.Sandy Flockhart, chief executive of HSBC in Asia, stressed HSBC was not moving to buy distressed assets. "This is not a bust bank or a bank with problems behind it. It's a conservative, well-managed bank and in view of that it should be easier to take it through to the next stage," said Flockhart.

The International Monetary Fund believes that more banks in the European Union could fail as efforts to raise additional capital begin to slow.

The International Monetary Fund believes that more banks in the European Union could fail as efforts to raise additional capital begin to slow.According to the IMF's annual review of the European economies released on Tuesday, the need for banks to rely more on government support will grow as investors and sovereign wealth funds show less inclination to put money into banks and volatile money markets.

Prudential speculation that the insurer is working on a potential deal to buy part of US insurance giant AIG.

Prudential shares jumped by 22% yesterday on speculation that the insurer is working on a potential deal to buy part of US insurance giant AIG.
The Pru's shares had slumped by almost 30% in two sessions at the end of last week, amid worries that an economic downturn could put pressure on insurer solvency. The Financial Services Authority had helped to stoke the anxiety by admitting it was in discussion with insurers over the issue. An FSA briefing note had raised concerns over "weaknesses" in the calculation of capital ratios.Yesterday Standard Life shares rallied by 4.4% and Legal & General by 3.4% though Aviva shares were flat.
But investors cheered the hope that the Prudential was interested in raising money to fund a potential deal, rather than to bolster its balance sheet. They also hope that the insurer will reassure on its trading position when it publishes third-quarter new business figures today.Asia has been the growth engine for Prudential in recent years as the UK disappointed, and acquiring a major operation in the region would help to offset a slowing in the pace of organic growth.The plan is thought to involve Middle Eastern and Chinese investors taking a 20% stake worth over £1bn in the company to help it finance a bid for the Asian business of AIG, which had to be rescued by the US government in a £49bn bailout last month.Mark Tucker, chief executive, was reportedly holding talks with AIG over the potential acquisition last week. But analysts said he could face opposition to the deal from other potential buyers including French insurance giant Axa and Holland's ING.Meanwhile, ING yesterday became the latest European bank to seek government funding, after agreeing to a 10bn (£7.8bn) cash injection as well as scrapping executive bonuses and its year-end dividend.Following a weekend of intense negotiations, after seeing its share price crash by over 25% on Friday and the partial nationalisation of rival Fortis two weeks ago, ING sought help to shore up its core capital and restore investor confidence.It is now thought that insurer Aegon may be looking to strengthen its solvency, after becoming the only institution apart from ING to admit that it was "looking at" the Dutch government's announcement that it was ready to pump 20bn (£15.6bn) into its financial institutions. Aegon UK employs 3000 in Edinburgh.Most of the smaller listed Dutch financial companies have indicated that they did not plan to ask for capital support. ING, which has a major savings business in the UK, has this month taken over the savings accounts of Iceland' s Heritable Bank and Kaupthing Edge.ING's chief executive Michael Tilmant said: "The market environment has changed over the last two weeks and the expectations for capital levels have changed following massive capital injections in financial institutions worldwide."

Bank Failures in Iceland Cause UK Council Delay Funds for Genome Analysis Center

Norfolk County Council last week postponed to November its plan to award a £1 million grant toward the center — which would be the first of its kind in the UK — after it learned how much of a £32.5 million investment in three failed Icelandic banks it will lose.

Russia, Iran and Qatar, holders of more than half of the world's natural gas, agreed to form a ``gas troika'' for joint exploration and production

Russia, Iran and Qatar, holders of more than half of the world's natural gas, agreed to form a ``gas troika'' for joint exploration and production, OAO Gazprom said.
``We have agreed to create a technical committee, and one of its missions will be to review projects that can be implemented in a trilateral way,'' said Alexei Miller, chief executive officer of Russian gas exporter Gazprom. Miller spoke to reporters in Tehran after talks today with Iranian Oil Minister Gholamhossein Nozari and Qatari Oil Minister Abdullah bin Hamad al-Attiyah.

Monday 20 October 2008

Tamboskaya mafia organisation Vladislav Reznik being investigated on the orders of a Spanish judge


Vladislav Reznik, a deputy of Putin's United Russia party and the chairman of the State Duma Financial Markets Committee, is being investigated on the orders of a Spanish judge for alleged links to the Tamboskaya mafia organisation.The gang is accused of a series of serious crimes including murder, kidnap, arms and drugs trafficking, money laundering and racketeering and has been mentioned in connection with match fixing UEFA cup games.A luxury villa belonging to Mr Reznik in the exclusive La Toro resort on the island of Majorca was raided by the Guardia Civil who seized computers, files, and works of art including paintings and sculptures.
Cars, including a Mercedes SL 600, a Toyota SUV and a Renault Clio, were also confiscated from the property, which is reportedly protected by a sophisticated security system.Mr Reznik, who was not at his Spanish home at the time of the raids, is being investigated over his supposed connections with fellow Russian Gennady Petrov, the suspected kingpin of an international crime organisation that allegedly used a network of Spanish registered companies to launder money earned through illicit activities.Petrov, who also has a property on the Balearic Island, was arrested in June along with more than a dozen others as part of the ongoing Operation Troika, led by Spanish Judge Balthasar Garzon.It has emerged that Mr Reznik, who declared earnings of $47m in 2006, bought his Majorcan villa – named Casa Artemis – from Petrov several years ago and the pair were regular seen together on the island.According to local sources, Mr Reznik was a well known member of the island's Russian billionaire elite and regularly attended services at Majorca's Russian Orthodox Church and played alongside Petrov in golf tournaments held exclusively for Russian visitors at the local club.It is thought that Judge Garzon is seeking an international arrest warrant for Mr Reznik but is being thwarted by his immunity as a Senator of the Russian state.

Thursday 16 October 2008

Guardia Civil is currently investigating the discovery of a body, in an advanced stage of decomposition, in waters close to sa Foradada

Guardia Civil is currently investigating the discovery of a body, in an advanced stage of decomposition, in waters close to sa Foradada, between Deya and Soller. The body was found by a fisherman who, upon making a closer inspection of a large object he had seen floating in the water, realised that it was a human corpse and immediately called the emergency services. Units from the Guardia Civil, Maritime Rescue and Red Cross all took part in the recovery operation, which lasted some hours. Initial identification has been made even more difficult due to the fact that the body is so badly decomposed. In fact, at this stage, it is not even possible to say whether the body is that of a male or female.The corpse was taken to the Port of Soller where it was examined by judiciary and a forensic doctor. It had clearly been immersed in the sea for a long time and the Guardia Civil are presently consulting their missing persons records. The corpse has been taken to Palma where an autopsy is to be carried out

SIX Americans arrested in Torrevieja for possession of cocaine

SIX arrested in Torrevieja for possession of cocaine and for allegedly being part of a narcotics ring.According to the police, all those arrested are American and aged between 30 and 40 years. They said that the gang ringleader, known as M.V.C, had been arrested previously in 2001 for the same drug related activities. The investigation into the Americans’ activities began three months ago when two properties in Torrevieja were identified as the bases where drug operations were being conducted. When arrested, the police found several amounts of cocaine in packages of various sizes and weights, totalling over 3.5 kilograms. According to reports, it was cocaine of the purest and highest grade and worth a lot of money on the street. Once the ringleader was arrested, police carried out several more raids in the Torrevieja area, subsequently arresting five more people and several more bags of cocaine.

Tuesday 14 October 2008

Six kilos of heroin has been taken off the streets of Alicante

Six kilos of heroin has been taken off the streets of Alicante and it is one of the largest drugs hauls.It occured when a North African man was being tailed from Murcia by the police as a suspect , he was stopped and resisted arrest by dangerous driving . The drugs were discovered in his car .The last major drug bust was in 2006 when more than 20 kilos was found on a boat in Alicante . This came in from Turkey via the so called Balkan route . Heroin is now less popular than cocaine and other synthetic drugs .

Saturday 11 October 2008

Mayor built a house on non-urban land by claiming it was just a garden shed

Residents have complained that the mayor has built a house on non-urban land by claiming it was just a garden shed. According to the village’s inhabitants, Juan Jose Puchol (PSPV) had a house built of some 40 square metres, which he said was just a storeroom for tools and a DIY room, but then later installed a small bathroom and kitchen. They say the windows of the ground floor are blanked out so passers-by cannot see that it is lived in, and the upper floor windows ‘have sea views’. Properties built on land classified as ‘rural’ or ‘rustic’ must not be residential, meaning that planning permission is not available. In this respect, residents claim the mayor’s house was built without the correct legal licence. But the mayor says the council’s architects gave the green light to the construction. Residents have also complained that the mayor has ‘illegally’ built a property in the mountains nearby. They say he did so using an existing ruin and a renovation licence, but that in practice, the building is completely new and none of the existing walls has been used in the construction. According to the mayor, ‘it was just the restoration of an old farmhouse’.

Monday 6 October 2008

Google has started to take 360 degree photos of the city of Málaga as part of the internet portal’s Street View program.

Google has started to take 360 degree photos of the city of Málaga as part of the internet portal’s Street View program.A car covered in cameras has been seen taking the photos which will shortly appear on the internet.Street View was named as the most innovative product of 2007 by Time magazine, and reports are that Google are currently also filming in seven other Spanish cities, Madrid, Barcelona, Sevilla, Valencia, Galicia, Salamanca and Bilbao.Some may consider Street View more evidence of Google’s dominance of the net, while others may have privacy issues.

Friday 3 October 2008

David George Hartley, 41, from Mansfield, Notts, was sentenced to 16 years imprisonment for murder

David George Hartley, 41, from Mansfield, Notts, was sentenced to 16 years imprisonment for the murder in June, 2002, of Danish holidaymaker Paul Pedersen.
He was also sentenced to a further two years imprisonment for stealing 200 euros - then worth about £135 - from his victim after strangling him.Hartley denied the charges.The written sentence was published at the Barcelona provincial court today following Hartley's conviction by a jury of nine at the end of a five-day trial last month.Hartley met Pedersen at a campsite near Barcelona airport in June, 2002. They became friends and shared the same tent, the court heard.
"Witnesses from the campsite said they were always together," says the written sentence.On the night of June 23, the jury heard during the trial, Hartley attacked the Dane while he slept. He was strangled and 200 euros were stolen from his pocket. Hartley fled, first to Benidorm and then back to Britain.
He was arrested in Nottinghamshire in the autumn and extradited to Spain two years later. The court heard when the trial opened that Hartley had been in custody for nearly six years.
The written judgement says that the jury found it had been proved that Hartley had grabbed his tent mate's neck in a stranglehold fully aware that he was likely to kill him.The jury had also believed the testimonies of two British witnesses who said that Hartley had told them about the killing.Former girlfriend Anne Trout said that Hartley, whom the court heard was a drug user and habitual drinker, had told her he believed he had strangled a man in Spain, but was not sure.
Alan Burns told the court how Hartley confessed to him over a drink in a bar in Benidorm. Weeping, Hartley said he had strangled a man at a campsite after "an indecent suggestion" was made, Mr. Burns said.When the trial opened Hartley denied killing Pedersen and stealing his money. But he refused to testify.His defence lawyer said there was no evidence to prove the allegations and asked the jury to acquit Hartley.

residents on the Ana Maria 2 find dead body hanging from a tree only a few metres from their front doors

horrified residents on the Ana Maria 2 urbanisation in Calypso awoke to find a dead body hanging from a tree only a few metres from their front doors. The man, in his 30s, appears to have committed suicide, by hanging himself by the neck from a lower branch. One local resident said: “At 8.30, my wife walked with me to the front gate when I was leaving for work. “We noticed that the Guardia Civil had blocked off the road a little further up the hill. We were then horrified to see a body hanging from a tree only a few metres from the front of our house. “My wife burst into tears and I must admit that I felt shaken, too. We went back inside our house and when we left together an hour later the body was still hanging there. “I asked a policeman if they knew who the man was and he said they had not yet established his identity.”
Having spoken to other residents in the area, it is rumoured that the man was of Eastern European origin and may have been involved in drug trafficking and prostitution, although these reports have not been confirmed.

The Latin Kings are the best-known among the Hispanic youth gangs that have formed in Spain among the immigrants from its former colonies.

They call themselves kings and queens. They rule over streets they have named the Inca, Aztec or Hispanic kingdom. They believe in God, honour and brotherhood. And whoever breaks the code of silence, does so at his own risk. The Latin Kings are the best-known among the Hispanic youth gangs that have formed in Spain among the immigrants from its former colonies. Gradually, Spanish police experts are beginning to understand the mentality of the street gangs born or based on models in poor and crime-infested neighbourhoods in the Americas. The Almighty Latin King and Queen Nation was initially formed to help and defend Latin American immigrants in the Chicago area of the United States in the 1940s. Its members later became involved in violent crimes. The Spanish branch of the Latin Kings was launched in 2000 by the young Ecuadorian Eric Velastegui, known as King Wolverine, who is now serving a prison sentence for rape. US leaders of the Latin Kings visiting Spain, however, have downplayed the group's violent reputation, and evidence from the north-eastern region of Catalonia suggests that such gangs have the potential of being transformed into constructive social forces. The Latin Kings' big rival in Spain are the Netas, a gang founded in the prisons of Puerto Rico in the 1970s. Other gangs include Dominican Don't Play (DDP), many of whose members come from the Dominican Republic. The Madrid DDP has begun to sell drugs and acquired firearms, the daily El Pais reported. Recently, evidence has even emerged of the presence in Catalonia of the Mara Salvatrucha and the Mara 18, Central American groups known for their extreme violence. In the Madrid region alone, the number of gang members tripled in three years to about 1,300 by 2007, police estimated. Nearly 300 of them were regarded as violent. The main gangs, which are present in several cities across Spain, are hierarchically structured, tribe-like organizations. They are characterized by mystical symbols, an ethos of religiosity and machoism, and an ideology of defending the Latin American identity against an environment perceived as racist and hostile.
The Latin Kings, for instance, wear rap-style clothes and black-and-gold bead necklaces. Their symbol of a five-point crown represents respect, honesty, unity, knowledge and love. The gangs tend to place women in a secondary role, with the Latin Kings as the only one to have a female section. Many of the gangs have a double nature, with leisure activities such as football alternating with robberies or extortion which new members can be ordered to commit as a kind of initiation rite. Dozens of gang members have been detained on charges ranging from kidnappings and threats to attacks and killings. Most of the violence takes place between rival gangs, but former members have also told courts about the beatings faced by those who break the internal rules. "We were told to pay 1,200 euros (1,700 dollars), or we'd be burned alive," two girls who had tried to leave the Latin Kings told a Madrid judge. The growth of the gangs is based on the rapid increase of Latin American immigration to Spain. The overall number of immigrants has soared from 1.8 per cent of the Spanish population in 1990 to more than 10 per cent. The largest groups include 420,000 Ecuadorians and 260,000 Colombians. "Immigrants never see their children, because they work 23 hours a day. The kids are on the street, in search of a (new) family," King Mission, a US representative of the Latin Kings, explained during a visit to Spain. Gangs like the Latin Kings also give a sense of purpose and self-esteem to youths who may come from neighbourhoods riddled with gang violence in their own countries, grew up without their parents who emigrated before them, and who are now struggling with the difficulties of adapting to a foreign culture. In 2007, Latin street gangs did not commit any killings in Spain for the first time in several years. The decline was attributed to police crackdowns and, in some regions, to attempts to integrate the gangs into Spanish society.
While the conservative Madrid authorities outlawed the Latin Kings in 2007, liberal Catalonia took the opposite approach, giving them the status of a cultural association.
Representatives of the Latin Kings and Netas even visited the regional parliament, explaining to legislators that they were planning to make joint musical recordings to bury their hostilities. International experts on street gangs have hailed Catalonia's ground-breaking approach, but it has not entirely eradicated inter-gang violence.

Wednesday 1 October 2008

Spanish police has seized seven tons of marijuana and detained five people in recent crackdowns in the southern province of Andalucia

Spanish police has seized seven tons of marijuana and detained five people in recent crackdowns in the southern province of Andalucia, provincial commissary Jose Maria Deira said Tuesday."The drug, coming from Morocco, is very pure, which has a market value of 10 million euros (about 14 million U.S. dollars),"Deira said, "it is the biggest volume seized in Andalucia this year."Deria said the marijuana was captured on two ships respectively, one ton in Cadiz on Sept. 21, and the other six tons in San Lucar de Barrameda a day later."It took several days to report the seizure because the police was trying to make more arrests and seizures," police authorities said.Deira added that all the detainees were Spanish and they would face judicial punishment.Spain is one of the main arrival points in Europe of cocaine from South America and marijuana from Africa.

Body of a woman has been found floating on a beach of La Manga del Mar Menor in Murcia.

Body of a woman has been found floating on a beach of La Manga del Mar Menor in Murcia.Lifesavers found the body of the woman on the Galúa beach around 5pm last night and alerted the Guardia Civil. There are no details about her possible identity or nationality as yet.It comes after the body of another woman was found on Monday floating in swimming pool in a water park, also in La Manga.

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