Chinese stock markets plunge after tax increase
Wednesday, May 30, 2007 The Shanghai Stock Exchange building at Shanghai‘s new Pudong financial district. Image: Manuel Pajer. In trading Wednesday, the Chinese stock markets plunged after the government tripled a tax on securities transactions. The so-called stamp tax was raised from 0.1% to 0.3% in an effort to cool the rapidly rising market. The Shanghai Composite Index of A-shares fell 6.5%. The CSI 300 fell 6.8%, with over half of the listed companies falling the single day limit of 10%. The market has already doubled in value this year, after rising 130% in 2006. It is estimated that some 300,000 new brokerage accounts are opened on an average day. Novice investors are reportedly sinking their life savings into the market. Meanwhile, the World Bank raised its forecast for GDP growth for China in 2007, from 9.6% to 10.4%. “The stamp tax is the latest gesture by the Chinese government…
Metropolitan Police to sell New Scotland Yard
Wednesday, October 31, 2012 The iconic revolving sign. Image: ChrisO. The Metropolitan Police — the police force for the Greater London area — has announced they may sell their headquarters, New Scotland Yard, in order to cut costs. They are trying to reduce their £3.6 billion annual budget by £500 million, following cuts by the coalition government. If the sale of New Scotland Yard goes ahead, the Metropolitan Police would move to a new location on the Embankment in the Curtis Green building, formerly the site of Cannon Row Police Station. Other proposals have been raised including selling off other property assets and closing police counters during off-peak hours, but officer numbers are to be maintained. New Scotland Yard famously has a three-sided rotating sign that turns 14,000 times per day. John Tully, chairman of the Metropolitan Police Federation, which represents the interests of police officers, said it is “regrettable”…
Iranian International Master Dorsa Derakhshani discusses her chess career with Wikinews
Tuesday, April 14, 2020 Dorsa Derakhshani in Baku, 2017 (Image: Gibraltar Chess Festival) In February 2017, the Iranian Chess Federation announced two teenage chess players, Dorsa Derakhshani and her younger brother Borna Derakhshani, were banned from representing the national team. The federation announced their decision although Dorsa Derakhshani had previously decided and informed the chess federation she did not wish to play for Iran. Dorsa Derakhshani is currently 21 years old and holds the International Master (IM) as well as Woman Grand Master (WGM) titles. Her brother, Borna, plays for the English Federation and holds the FIDE Master title. Dorsa Derakhshani was banned since she did not wear a hijab, an Islamic headscarf, while competing at the Tradewise Gibraltar Chess Festival in January 2017. Under the laws of Islamic Republic of Iran, hijab is a mandatory dress code. Her brother Borna Deraskhsani was banned for playing against Israeli Grand Master…
Nepal Parliament passes resolution to curb King’s power
Thursday, May 18, 2006Prime Minister of Nepal, Giriraj Koirala proposed in Parliament a resolution which is aimed at drastically curtailing the monarch’s powers. According to the resolution, the King will be stripped of his status as the Supreme Commander of the Royal Nepal Army (which is to be renamed as the Nepal Army Cabinet). Portions of the Nepalese national anthem that praise the King have been cut. The proposal also aims at cutting down on the King’s allowance and his right to be exempted from paying taxes. The government which is currently referred to as the “King’s administration” will henceforth be known as the “Nepalese Government”. The resolution also changes Nepal’s status from that of a Hindu nation to a secular one. The King’s Advisory Council will no longer exist and his security will be taken care of by Parliament. The King will also now no longer have the privilege…
Reflections, Lichtenstein, two new exhibitions at Edinburgh’s Modern One
Saturday, March 14, 2015 This weekend saw the opening of two new exhibitions at Edinburgh’s National Gallery of Modern Art. Wikinews attended Thursday’s press preview for the event where a full contingent of the capital’s press turned out to see the striking collection of paintings, photographs, and other works. Presented below are a selection of images captured at the preview. REFLECTIONS: A Series of Changing Displays of Contemporary Art, billed as a showcase of a “diverse range of internationally-renowned contemporary and modern artists” is to display major works from the Gallery’s permanent collection, alongside important loans. Alongside this broad range of works, a three-room display of pieces on-loan from the Roy Lichtenstein Foundation — with a dramatic painted steel relief, ‘borrowed’ from the Tate in London — runs from March 14 through to January 10 next year. Admission to both exhibitions is free; being located in Dean, to the north-west…
Anti-junta demonstrations grow in Bangkok
Monday, June 11, 2007 Anti-junta demonstrations in Bangkok reached their largest point yet on Saturday night, when between 10,000 and 15,000 protesters marched from Sanam Luang to the Royal Thai Army headquarters to call for the resignation of Council for National Security chairman General Sonthi Boonyaratglin. Yesterday, Sonthi, the leader of last year’s coup d’état, rejected the protesters demands, saying he would remain as chairman of the military’s governing body in the best interests of Thailand, and that he wasn’t doing the job for personal gain. “And I doubt the motives of these people who are organizing the rallies,” Sonthi was quoted as saying by The Nation newspaper. The demonstrations continued yesterday, albeit smaller, with crowds estimated at 3,000. The organizer is People’s Television (PTV), a satellite television station that supports ousted prime minister Thaksin Shinawatra. Organizers have vowed to continue the demonstrations until the junta gives up power. The…
Record number of failed banks reported in US for February
Sunday, March 1, 2009 According to the Federal Deposit Insurance Corporation (FDIC), a record number of banks for a calendar month have failed in the United States in February. A total of 10 banks failed in February, more than any other month since October of 2000. A total of 16 banks have closed this year so far, with 24 closing in 2008. If the current trend continues, the total number of failed banks will more than double in March, as compared to the total number of failed banks in 2008. The list grew after the FDIC took over the funds from the Security Savings Bank of Henderson, Nevada and the Heritage Community Bank in Glenwood, Illinois on February 27. The FDIC issued press releases for both institutions. The four branches of the Heritage Community Bank reopened on February 28 “as branches of MB Financial Bank,” stated the FDIC. The bank’s…
Mathematics summer school in Turkey threatened by authorities
Tuesday, August 14, 2007 The closure of a mathematics summer camp in ?irince, ?zmir, Turkey by Turkish authorities has drawn scorn from scientists around the world. Professor Alexandre Borovik, who organized some of the opposition, said “We are shocked to learn that the Summer School of Mathematics initiated by Professor Ali Nesin was shut down by local authorities. We found it surprising that such an esteemed mathematician such as Professor Nesin needs a specific permit each time he wants to teach math, as we saw that one of the reasons for shutting the camp down was the lack of such a permit, especially considering how this contradicts the fact that the summer schools organized every year by Professor Nesin are sponsored by The Scientific and Technological Research Council of Turkey (TÜB?TAK), Turkish Mathematics Association and many respected Turkish universities.” The school was reopened on August 10, 2007; however, Ali Nesin…
Interview with BBC Creative Archive project leader
Thursday, June 22, 2006 Paul Gerhardt, Creative Archive project leader The Creative Archive project is a BBC led initiative which aims to make archive audio and video footage available to be freely downloaded, distributed, and ‘remixed’. The project is still in a pilot stage, and is only available to UK residents, but the long-term future of the project could have a major impact on the way audiences interact with BBC content. The project is partly inspired by the Creative Commons movements, and also by a general move within the BBC to be more open with its assets. Additionally, educational audiences such as schools have expressed an interest in using BBC content within the classroom, both to watch and to create multimedia content from. So far, clips made available under the licence have included archive news footage, nature documentary footage, and video clips content designed for educational uses. “It’s done very…
Media round-up: April Fools’ Day 2008
Tuesday, April 1, 2008 Many media outlets traditionally deliberately spread hoaxes on April Fools’ Day, including notable quality sources such as National Geographic and Science. Presidents Sarkozy and Bush were victims of April Fools’ Day stories. The popular British tabloid The Sun wrote that French President Nicolas Sarkozy is to undergo stretch surgery to make him taller than his wife, Italian artist and model Carla Bruni. The report claimed the 5 foot 5 inch leader would be made 5 inches taller in one year using a method by Israeli professor Ura Schmuck. The Sun noted that during his visit to Britain last week, Sarkozy had high-heel shoes while his wife wore a pair of flat pumps. The Guardian on the other hand ran an article that suggested that Carla would head an initiative by Prime Minister Gordon Brown to bring more glamour, good taste and sophistication to the U.K. general…