Financial institutions fined

According to reports, the eu who have been investigating foreign exchange spot trading in relation to a cartel of banks have imposed total fines of €261 million on four banks; ubs, barclays, royal bank of Scotland and hsbc who decided to settle, and fined credit suisse who did not cooperate €83 million.

Reportedly, the investigation is the sixth enquiry into the financial sector since 2013, concluding the third leg into foreign exchange spot trading. According to reports, a foreign exchange spot transaction is an agreement between parties to buy stocks, bonds or commodities in a currency and sell in another on an arranged date. Reportedly, the collusive activity has undermined the integrity of the financial sector at the expense of the european economy. According to a report, forex the digital foreign exchange market has a daily volume of €6.6 trillion. Reportedly, the investigation revealed that some traders in charge of forex spot trading coordinated trading strategies through an online chat room called ‘sterling lads’.

Russian gas, a solution?

According to a report, the u.s. are considering whether to sanction companies working on the Nord stream 2 Russia to eu pipeline. Reportedly, Nord stream 2 could double Russian gas to Germany, providing inexpensive energy as the country makes the transition from coal and nuclear energy.

Reportedly, according to a spokesperson for icis, intelligence analysing european gas has said capacity auctions will be watched intently by the market for any signal concerning flows from Russia. According to the report, the regions biggest supplier said it aims to continue refilling european storage sites. Reportedly, uk natural gas prices have increased from 50 pence per therm in April to £2.30 per therm.

Two suicide bombings in Uganda

Reportedly, two suicide bombings in November in Kampala resulting in the closure of the Ugandan parliament have been attributed to islamic state central Africa province, known locally as the allied democratic forces. According to the report, the attacks were followed by the Ugandan and Congolese armies staging air and ground strikes against adf camps. Reportedly, the adf are one of the deadliest armed groups fighting for control of mineral resources in the Democratic Republic of the Congo, includes gold and uranium.

New covid variant

According to a report, it could take weeks to identify how effective current vaccines are on a new covid variant named omnicron, that has a new spike protein.

Reportedly, antibody tests should not be used on infected or recently infected persons, it takes from one to three weeks following infection for antibodies to develop. According to reports, studies show that naturally acquired immunity is more effective against variants than vaccinations, which contain a single antigen or toxin to induce an immune response.

According to a report, infected people may be asymptomatic, with regard to pcr tests, the cycle threshold number numder tells how many cycles through the pcr machine were required for a positive result. Reportedly, twenty or so cycles indicate a relatively high viral load, 35-40 cycles could be very little virus at all.

New bilateral treaty

According to reports, the quirindale treaty, essentially negotiated this year has been signed by France and Italy this morning.

Reportedly, according to a late draft of the treaty, a theme is cooperation in a partnership of foreign policy, cloud computing and macroeconomics. According to a report, France first suggested the pact in 2017. Reportedly, former prime minister Matteo Salvini clashed with France over Libya.

The western presence in the Sahel

According to a 1980 report, Africa’s resources were listed as diamonds, 75% of world’s supplies, gold 70%, platinum 46%, copper 20% and uranium more than 20%. According to the report, while these resources were concentrated in southern countries, gas, oil, phosphates, iron and uranium were located in north Africa, the western Sahara and the Sahel.

The Sahel stretches from the Atlantic ocean to the Red Sea, from Senegal, Gambia, Mauritania, Mali, Burkina Faso, Niger, Nigeria, Chad, Central African Republic, South Sudan, Sudan, Eritrea and Ethiopia.

Reportedly, in 1912 the plan for the organisation of the Sahel identified an administrative and military arrangement. According to the report, the area encompassed the Sahara, Libya, southern Algeria, Niger, Mali and Burkina Faso. Reportedly, the area was extended following the discovery of two important oil fields in 1956 in eastern Algeria. The Algerian war for independence from France ended in 1962. According to a report, the french wanted to maintain their interests in the area, including control over Saharan oil reserves. Reportedly, Algeria ceded to france certain air bases, terrains, sites and military installations sites including facilities for underground nuclear testing in the Sahara.

Reports from the Sahel are of nationalist agendas contrary to western interests and the ambitions of al qaeda, jihad activity and problems with water supplies. According to a report, in 2002 the u.s. created a combined joint task force for the horn of Africa, the trans Sahel counter terrorism innitiative in 2005 and the Africa command in 2008, resulting in military training for Africans and counter terrorism partnerships in Uganda, Ethiopia, Tanzania, Kenya, Morrocco, Algeria, Mauritania, Senegal, Tunisia, Libya, Mali, Burkina Faso, Nigeria, Niger and Chad.

The oil industry

According to reports, following opec repeatedly ignoring requests to pump more oil, the u.s. are releasing millions of barrels from reserves. Reportedly, the organisation for petroleum exporting companies emerged in 1960, and was founded by Saudi Arabia, Kuwait, Iraq, Iran and Venezuelia, it now has 13 members who account for 44% of global oil production and 81.5% of the world’s proven oil reserves.

According to reports, the seven sisters were British and u.s. oil companies who largely controlled oil production in the middle east. Reportedly consisted of anglo Iranian oil company, became bp; royal dutch shell, the largest non state owned energy company in the world; standard oil company of California, gulf oil and texaco, all now chevron; standard oil company of New Jersey/esso, now exxonmobile; and standard oil company of New York, now part of exxonmobile. According to a report, the surviving companies, known as the supermajors once controlled 85% of the world’s oil reserves. Reportedly, the seven sisters were able to exert power over third world oil producers due to political influence.

Tigray

According to a report, the u.n. are relocating families of international staff in Ethiopia, though not personnel, due to conflict in the Tigray region. Reportedly, the war began in November following independent elections in Tigray. According to the report, the government suspended funds to the region in October.

Reportedly, Eritrea became a seperate nation in 1993, but a boundary dispute in the Tigray region resulted in Eritrea invading Ethiopia in 1998. According to reports, u.n. mediation led to intervention in 2000, consisting of military observers, inspectors and the establishment of a military cooperation commission. Reportedly, a 2002 peace innitiative demarked disputed territories along colonial lines, most given to Eritrea, Ethiopia didn’t recognise the ruling.

Reportedly, a 2018 peace agreement arbitrated by a u.n. cartographer reinforced the 2002 territorial ruling. According to a report, the Ethiopian prime minister was awarded the nobel peace prize for his work in ending the conflict. Reportedly, only two have declined the nobel peace prize, Jean Paul Satre, nominated for his work on behalf of freedom and truth, and Le Duc Tho, a Vietnamese politician.

According to a report, following news that the Tigray people’s liberation front are advancing, prime minister Abiy Ahmed said, Let’s meet at the front.

Hazards of nuclear

Reportedly, the five permanent members of the u.n. security council plus Germany are to meet representatives from Iran in Vienna on Monday in an attempt to revive the Iran nuclear deal, known as the joint comprehensive plan of action

According to a report, Iran began mining and enriching uranium during the late nineteen eighties. Concentrated uranium is necessary for nuclear fuel. Reportedly, fission occurs when the nucleus of an atom splits or shatters, a chain reaction occurs and water is used to deaccelerate the process. Reported hazards are uranium depletion and spent fuel which is high level radio active waste. According to the report, the safe management and storage of spent nuclear fuel is a difficult problem for any country using nuclear power.

Reportedly, there are 129 commercial nuclear reactors in the u.s. According to the report, spent fuel is stored in pools of water that absorb radiation, and pre cooled spent fuel is stored in tanks filled with inert gas. Reportedly, more than 17,500 metric tons of nuclear waste is stored in Illiois and Pensylvania, and 12,000 metric tons in the states of New York and North and South Carolina.

Man dies on Temple Mount

According to a report, a man died and two civilians were injured in an attack in Jerusalem on Sunday morning. Reportedly, the attacker, possibly formerly of Gaza lived in the Shuafat refugee camp, east Jerusalem.

The deceased was 26 year old Eliyahu David Kay. According to the report he had been living in Israel since 2017, his parents had recently joined him and he was employed at the western wall as a security guard. Reportedly, two civilians were injured, Rabbi Zeev Katzenelmbogen, and yeshiva student Aaron Yehuva Imergreen who is in a serious condition. According to the report, two police officers opened fire on the attacker who died.

Reportedly, Fadi Abu Shkaydam who had been attending the Al Aqsa mosque daily, fired shots from a submachine gun near an entrance to the Temple Mount. According to the report, his wife and son were said to have left the country several days before the attack. Reportedly, hamas have taken responsibility for the attack, saying, Israel will pay the price for the iniquities it commits against Al Aqsa mosque, Silwan, Sheikh Jarrah and elsewhere. Silwan and Sheikh Jarrah are predominantly Palestinian neighbourhoods in Jerusalem.

The village of Silwan is thought to be built on the site of the city of David. The Temple Mount was the site of the first Jewish temple, built by King Solomon. According to biblical script it contained the ark of the covenant and the tablets of stone. Reportedly, the temple was destroyed by Babylonians around 587 bc. According to biblical narrative, a second temple was built on the site by returnees from Babylonian exile around 516 bc, which was reportedly destroyed by roman soldiers around 70 ad.

According to reports, the site was expanded and the temple restored in 37 bc by Herod, of Greek Arabian descent and a roman client king. Reportedly, only four walls remain from the period including the western wall, thought to be closest to the holy of holies where the ark of the covenant was placed, the most sacred site in Judaism. The arab conquest of 634/38 resulted in the building of the dome of the rock on the site of the original temple and the Al Asqa Mosque to the south.

The temple Mount has been the site of Palestinian protests and clashes with the police over Israeli policies in contested areas, raising the question of why Israel doesn’t substantiate peaceful co-existence under Israeli law in all territories.