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AFRICA : USD 360 million paid in ransom to pirates

Quality journalism requires investment. Please use the link below when sharing this article with others. 


http://shippingwatch.com/carriers/article6194367.ece





CARRIERS: 


The pirates off the coast of Somalia have received around USD 360 million in ransom, while piracy has cost the world around USD 18 billion.



 "A grotesque situation we've been through," 

says Jan Fritz Hansen of the Danish Shipowners' Association.







BY LARS FROM AND KARINA ODDERSHEDE DAHLGAARD
Published 04.11.13 at 11:39








The Somali pirates have made millions upon millions of dollars on hijacking ships, taking hostages, and demanding ransoms.





From 2005 to 2012, the Somali pirates have been paid around USD 360 million in ransom, according to a new report, "Pirate Trails," produced by World Bank, the UN Office on Drugs and Crime, and Interpol. 




The report shows that the pirates cost the world around USD 18 billion every year.




Gullestrup to testify against pirate negotiator





The actual pirates, who have perfo…

Safeway Completes Sale of Canadian Operations to Sobeys

PRESS RELEASE

Nov. 4, 2013, 11:25 a.m. EST











PLEASANTON, CA, Nov 04, 2013 (Marketwired via COMTEX) -- Safeway Inc.SWY +0.20% today announced that it has completed the sale of the net assets of Canada Safeway ULC (formerly Canada Safeway Limited) to Sobeys Inc., a wholly-owned subsidiary of Empire Company Limited, in accordance with the asset purchase agreement announced on June 12, 2013 and the consent agreement with the Competition Bureau announced on October 22, 2013.



"We are pleased to have completed the sale of our Canadian operations to Sobeys," said Robert Edwards, President and CEO. "We believe this represents a significant contribution to shareholder value."





Proceeds from the transaction of C$5.8 billion in cash (approximately C$4.0 billion aftertaxes and expenses) and $400-$450 million in U.S. tax benefits related to the exit of the Chicago market will be used to pay down $2.0 billion of debt, with the majority of the remainder to be used to buy back stock. In a…

FIRST IMAGES FROM IPO GLOBAL PINEAPPLE CONFERENCE (COSTA RICA) ...

STRATFOR ANALYSIS: CHINA & THE WINDS OF CHANGE ...

China's Inevitable ChangesGeopolitical Weekly TUESDAY, NOVEMBER 5, 2013 - 04:06 Print Text Size  Stratfor By Rodger Baker and John Minnich The Central Committee of the Communist Party of China will convene its Third Plenum meeting Nov. 9. During the three-day session, President Xi Jinping's administration will outline core reforms to guide its policymaking for the next decade. The Chinese government would have the world believe that Xi's will be the most momentous Third Plenary Session since December 1978, when former supreme leader Deng Xiaoping first put China on the path of economic reform and opening. Whether or not Xi's policies will be as decisive as Deng's -- or as disappointing as those of former President Hu Jintao -- the president has little choice but to implement them. China's current economic model, and by extension its political and social model, is reaching its limits just as it had prior to Deng's administration. The importance of the upcoming…