Saturday, August 3, 2013

Abu Dhabi Energy Firm TAQA Swings To 2Q Loss

Reuters

DUBAI, July 31 (Reuters) ? Abu Dhabi National Energy Co (TAQA), the state-owned oil explorer and power supplier, swung to a loss in the second-quarter weighed down by derivatives and hedging exposures and a slump in income from its oil and gas business.

TAQA, 75 percent owned by the government of Abu Dhabi, reported a net loss of 172 million dirhams ($46.83 million) for the quarter ending June 30, compared with a profit of 447 million dirhams in the corresponding period in 2012, the company said in a bourse statement.

Revenue for the quarter was 2.1 billion dirhams, lower than the 2.6 billion dirhams generated in the prior-year period.

The company posted a loss of 114 million dirhams due to changes in fair value of derivatives and hedges in the quarter. This compares to a gain of 80 million dirhams in the second quarter of 2012.

Total oil and gas revenues declined by 18 percent in the first half of the year to 4.8 billion dirhams for the first half 2013, due to lower production in the U.K. North Sea and softer pricing in Europe for oil.

The state-owned utility has investments in the energy and power sector in the Middle East, India, Africa, the U.K. and north America.

Its shares were trading down 3.1 percent on the Abu Dhabi bourse at 0745 GMT following the results announcement. ($1 = 3.6730 UAE dirhams)

(Reporting by Praveen Menon; Editing by Dinesh Nair)

Copyright 2013 Thomson Reuters. Click for Restrictions.

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Source: http://www.rigzone.com/news/oil_gas/a/128122/Abu_Dhabi_Energy_Firm_TAQA_Swings_To_2Q_Loss?rss=true

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Friday, August 2, 2013

French bakers urge the French to eat more bread

But the Monitor's Europe bureau chief finds that baguettes, like all things, should be taken in moderation.

By Sara Miller Llana,?Staff writer / July 31, 2013

The New York Times has a fascinating story this week on the French penchant for bread ? or rather the country?s declining penchant.?

Skip to next paragraph Sara Miller Llana

Europe Bureau Chief

Sara Miller Llana?moved to Paris in April 2013 to become the Monitor's Europe Bureau?Chief. Previously she was the?paper's?Latin America Bureau Chief, based in Mexico City, from 2006 to 2013.

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?The average Frenchman these days eats only half a baguette a day compared with almost a whole baguette in 1970 and more than three in 1900,? the paper reports.

What? I would never guess that from the line at the bakery right down the street, which is always long, and often out the door.

But the story does go a long way to clear up some mysteries that I?ve been encountering on an anecdotal basis here.

In my adult life, eating white bread has been naughty. It?s wheat or nothing, with slices of baguette something just reserved for a special dinner out.?So it was with a degree of glee that I moved here and saw virtually everyone munching off the tips of baguettes while walking down the street. If they can do it, so can we!

And that we did. One of the first things that made us laugh when we moved to France was walking into the kitchen in our temporary apartment and finding that our two-year-old had grabbed a baguette from the table and proceeded to chow down.

Except, it?s now been four months and, unfortunately, a few extra kilos.

I always think of the book ?French Women Don?t Get Fat,? which purports that, among other things, women can eat what they want here because they are slowing down and thoroughly enjoying it.

But I?ve come to learn that they also eat minuscule proportions. When you eat French food ? croissants, buttery sauces, chocolate tarts, and yes, baguettes ? like an American, you are in trouble.

It just so happens that we woke up to this revelation this very week and banned baguettes ? as well as the sweets from the bakery ? from our house. It?s going to be a two-week trial, with the goal of incorporating it back into our lives at much smaller volumes (i.e., we do not need to be eating two baguettes a day between three, one of whom is a toddler).

It?s decisions as such that are apparently worrying the?Observatoire du Pain, the baker?s lobby, which the Times reports recently launched a campaign to draw the French back to bread, as a cheap and healthy option ? and part of simply being French.?

?Coucou, tu as pris le pain?? (?Hi there, have you picked up the bread??) is the campaign?s slogan. Modeled on the American advertising campaign ?Got Milk?? the bread slogan was plastered on billboards and inscribed on bread bags in 130 cities around the country.???

The campaign?s Web site,?www.tuasprislepain.fr, explains that ?France is a ?civilization of bread? and this food is part of the traditional meal ?? la fran?aise.' ?

Bread is described as healthy and useful in avoiding weight gain. ?It is rich in vegetal protein and fiber and low in fat; glucides are a source of energy,? the Web site says, using the French word for carbohydrate.

If people on diets want ?to avoid giving in to something with fat and sugar, bread is there,? it says. ?Its satiating effect allows you to wait for the next meal.?

The campaign reads a bit like desperation, but I don?t think the bread and pastry makers of France need to worry just yet. France, the Times reports, still enjoys the world?s highest density of independent bakeries. And even if the number, 32,000, is down from 54,000 in 1950, there are still too many bakeries for one bread-loving family to easily resist.?

Source: http://rss.csmonitor.com/~r/csmonitor/globalnews/~3/h_Gs7sW3Sfs/French-bakers-urge-the-French-to-eat-more-bread

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A Look Into What The Manning Verdict Means For The Tech Industry

bradley-manningThe long-running trial of Wikileaks whistle-blower Pfc. Bradley Manning came to a key (if preliminary) conclusion this week, with Judge Denise Lind announcing a verdict that contained both good and bad news for Manning: He has been found innocent of the very serious charge of "aiding the enemy," but guilty of 19 other lesser counts. His sentencing for these crimes has yet to be determined. It's a situation that has captured the interest of many people but has especially meaningful implications for the tech industry (and the people who use its products), so it was a big pleasure to have Rainey Reitman stop by the TechCrunch TV studio this week to help elucidate what it all means. As the co-founder and COO of the Freedom of the Press Foundation and a full-time staffer at the Electronic Frontier Foundation, Reitman has been keeping close tabs on the Manning case since Manning's leaks of classified U.S. military documents first came to light back in 2010 -- in fact, in her spare time she founded the Bradley Manning Support Network to help support Manning in his trial. There are few people more well-versed in all aspects of this subject than she.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/cDQ6twnww9Q/

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Two firms where Rutgers President Robert L. Barchi serves as adviser do business with N.J.'s medical school

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COLUMBUS, Ind. - Mayor Kristen Brown will host a booth at Saturday's Columbus Fa...

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