Tuesday, March 26, 2013

Last Tuesday, AusAID Australia and the World Bank’s Global Environment Fund (GEF) reached an agreement to give the government of Kiribati US$5 million (AU$4,779,000, NZ$5,985,000, €3,885,000) to install solar panels around the country capital, located on the Tarawa atoll. According to Business Desk of the Brunei Times, AusAID promised AU$3.2 million in funding, while GEF promised US$1 million. The country was the first in the Pacific to make a deal with the World Bank.

The funding was part of a US$530 million (NZ$635 million) package announced at yesterday’s Pacific Energy Summit in Auckland involving New Zealand and the European Union, Australia, the Asian Development Bank, the European Investment Bank, the Japan International Cooperation Agency, the World Bank Group, and the United Arab Emirates. Also at the summit yesterday, New Zealand’s Foreign Affairs Minister Murray McCully had announced a national commitment of USD$54,262,000 (AU$51,861,000 NZ$65 million, €42,178,000) to Pacific region energy solutions, of which US$8,348,000 (AU$8 million, NZ$10 million, €6,483,000) would be specifically earmarked for renewable energy and improved energy efficiency in the Cook Islands, Kiribati, Papua New Guinea, Samoa, Tonga, and Tuvalu.

Kiribati is heavily dependent on diesel fuel for most of the energy available on the national power grid, which supplies power to half Kiribati’s population of 110,000. In addition, a third of the country’s population lacks access to electricity. Once installation of the solar panels is complete, they are estimated to reduce diesel consumption by 230,000 liters (60,760 gallons) a year and give access to the electricity to some parts of the population that currently have no electricity. The European Union already has committed €100 million to sustainable energy in the region, with €10 million of that coming as a result of an announcement made last week.

In a press release about the news, Kiribati President Anote Tong was quoted as saying, “Kiribati faces big challenges it is remote, it is at risk from the effects of climate change, and it is vulnerable to economic shocks. […] Shifting Kiribati’s focus to reliable solar energy will provide a more secure, more sustainable power source for the country’s people.” Radio New Zealand International quoted Tong as saying, “It’s the first time we are doing this. We’re excited at the prospect of even substituting fossil fuel to a small extent at this stage. What the system being envisaged will only produce around 500 kilowatts, but this is the beginning of what I hope will be a pattern, the trend in the future.”

The European Union’s Fiji-based head of operations for the Pacific region, Renato Mele, supported alternative energy solutions like solar power for the region, but said that solar power had limitations because climate and environmental conditions sometimes meant batteries required to power the panels had a life of only 12 months, compared to other climates where batteries normally last five years. This created the potential to drive up standard operating costs. Mele has also noted these additional costs though are still lower than the cost of diesel power.

One News Pacific Correspondent Barbara Dreaver noted, “Governments will be able to put the money they (currently) spend on diesel into things like education and health.”

Monday, December 11, 2006

There are suppositions that the US Democratic Congress may re-establish the luxury taxes, which were already once introduced in the 1990s. The suppositions resulted in the National Association of Watch and Clock Collectors commissioning a report on various tax issues.

Material goods such as jewelry, watches, expensive furs, jet planes, boats, yachts, and luxury cars had already been subjected to additional taxes back in 1990. After 3 years these taxes were repealed, though the luxury automobiles tax was still active for the next 13 years.

Rodderick A. DeArment, a representative of law firm and lobbyist Covington and Burling, guided the report. The report outlined the fact that, in 1993, the Congress did not collect as much money from the luxury taxes as it had predicted. It also stated that although its ravaging effect on employment in several industries was sensible, “the turnover that occurred in Congress made it possible for the new group to learn the same lessons again”.

The luxury tax could produce unpredictable effects for the watch industry and the report was meant to inform the members of this branch about the effects of these taxes on this luxury goods’ industry.

Wednesday, May 5, 2010

Protestors in Greece, rallying against austerity measures, have clashed with police in the capital of Athens.

Some people participating in the rally — attended by thousands of teachers and students — threw stones at riot police, who responded by employing pepper spray, although the BBC described the protests as being generally peaceful. Demonstrators say that a recent austerity proposal, which is to include pension cuts and an increase in taxes, will adversely affect the education sector.

Teachers, along with hospital workers and public servants, have started a two-day strike over the measures. Also present were 150 members of the armed forces, who protested having their bonuses lowered.

Meanwhile, earlier on Tuesday, approximately a hundred demonstrators with the Communist Party broke through locks at the Acropolis and hung up banners saying: “Peoples of Europe — Rise Up”.

Communist Member of Parliament Nikos Papaconstantinou commented: “We want to send a message to the farthest reaches of Greece and Europe. Similar measures that eliminate social security are taken across Europe. But popular anger will rattle imperialist organisations.”

The austerity plan comes shortly after the Greek government said it would introduce spending cuts to obtain a loan package by the EU and International Monetary Fund, aimed at helping Greece recover from a financial crisis.