Daily Archives: July 27, 2013

Egypt not to follow austerity measures

Egypt: Egypt’s new finance minister, Ahmad Galal has said the country’s interim government will seek to avoid major austerity measures and instead work to stimulate the economy by improving security and pumping in new funds, Reuters has reported. The government inherits a budget deficit that since January has been running at around $3.2bn a month, almost half of all state spending. “One of the important tools to deal with the budget deficit is stimulating the economy,” Galal told reporters at a briefing. “We will seek to pump more new funds into the economy and not follow austerity measures. We do not want to increase taxes sharply, that is if we increase them at all, and we do not want to lower spending in a way that will slow a revival of the economy,” the minister said. [AMEInfo.com]

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British energy firm reports lower output in Egypt

Egypt: The UK’s third-largest natural-gas producer, BG Group has said posted a 3% drop in earnings in the second quarter to $986m from $1bn a year earlier, as output declined in Kazakhstan and Egypt, Bloomberg has reported. While operations off Egypt haven’t been affected by recent civil unrest, the crisis remains a “primary concern and will continue to be so as the political, social and business environment evolves,” CEO Chris Finlayson said. BG’s gas-export volumes in Egypt fell 2.4% to 59.8 million barrels of oil equivalent (657,000 barrels a day), as reservoirs depleted and more supply was diverted to the domestic market to meet demand. Liquefied natural gas deliveries shrank 17% to 2.4 million tonnes, the firm said. [AMEInfo.com] read more

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Texas Monthly: Maybe Animals Just Need Quality Time With Friends

At the International Exotic Animal Sanctuary near Fort Worth, a self-trained behaviorist is using a method known as emotional enrichment to improve the lives of animals in captivity. read more

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A Race to Save the Orange by Altering Its DNA

Growers turned to genetics in hopes of building a tougher orange tree. But what intervention would the public accept? read more

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Dot Earth Blog: A Closer Look at That ‘North Pole Lake’

A flurry of Web discussion of a “North Pole lake” misses some important points. read more

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Virginia Johnson, Widely Published Collaborator in Sex Research, Dies at 88

Ms. Johnson and William H. Masters helped make the frank discussion of sex in postwar America possible if not downright acceptable. read more

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George Mitchell, a Pioneer in Hydraulic Fracturing, Dies at 94

Mr. Mitchell, who on a hunch began drilling shale rock formations, is credited with creating an unexpected natural gas boom in the United States. read more

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Bits: I’m Still Waiting for My Phone to Become My Wallet

It’s long been predicted that consumers would be able to wave their cellphones to buy everything from clothes in a department store to beers in a bar. Why isn’t it happening? read more

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Siemens CEO to leave following profit warning

MUNICH (Reuters) – Siemens Chief Executive Peter Loescher is to leave the company, four years before the end of his contract, after the German engineering group this week issued its second profit warning this year. read more

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Renesas plans to close major chip plant in Japan: sources

TOKYO (Reuters) – Japan’s Renesas Electronics Corp plans to close a system LSI chip plant in northern Japan that makes chips for Nintendo Co Ltd’s Wii game consoles and other consumer electronics, after failing to find a buyer for the facility, sources familiar with the matter said on Saturday. read more

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Famed hacker Barnaby Jack dies a week before hacking convention

Barnaby Jack, a celebrated computer hacker who forced bank ATMs to spit out cash and sparked safety improvements in medical devices, died in San Francisco, a week before he was due to make a high-profile presentation at a hacking conference. read more

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US zoo to breed endangered rhino siblings

In a desperate bid to preserve a critically endangered species, a US zoo is taking the controversial step of trying to mate brother and sister captive Sumatran rhinoceroses. read more

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All animals are equal, but some are more equal than others

There is one rule for ‘them’ and another completely different rule for the rest of ‘us.’ read more

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Egypt: More than 70 dead in clashes at Morsi rallies

At least 74 supporters of Egypt’s ousted Islamist president have been shot dead during clashes with security forces, officials said. read more

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