Steve Kerr impressed with Warriors’ reserve centers in Game 3 win

first_imgClick here if you’re unable to view the photo gallery on your mobile device.PORTLAND — Steve Kerr’s Damian Jones experiment exploded in his face.Jones had played just three minutes and 12 seconds since Dec. 1, when he tore his left pectoral against the Pistons. He returned in Game 1 of these Western Conference Finals after more than five months sidelined and played a minute and 42 seconds of garbage time before playing a mere minute and a half in the third quarter of Game 2.Kerr started …last_img

How Bambi Gave Rise to Moby Dick

first_imgThe title of this entry, in Kipling Just-So Story format, is only slightly modified from an article from The Guardian, titled, “How Bambi evolved into Moby-Dick.”  This is not a joke; check on the link and see.    The article is about the latest fossil claimed to be ancestral to whales.  Hans Thewissen (Northeastern Ohio College of Medicine) has spent many years trying to trace an evolutionary path to whales from artiodactyls (even-toed ungulates, a group of mammals including deer, cattle, sheep, goats, giraffes, pigs, and camels).  This was the subject of a chapter in the PBS Evolution series, “Great Transformations,” in 2001 (see review on ReviewEvolution.com).  Thewissen’s latest candidate missing link is a raccoon-size deer-like fossil animal found in Kashmir; the discovery and analysis was published in Nature.1  The Guardian was ebullient in its certainty that this is the link:The landmark finding represents a long-sought ‘missing link’ in the 10m-year [10 million year] journey that saw ancient land mammals evolve into modern cetaceans, a group that includes whales, dolphins and porpoises.”    Scientists have long known that whales are mammals whose ancient ancestors walked on land, but only in the past 15 years have they unearthed fossils that shed light on the creatures’ dramatic evolutionary history.  The latest discovery, named Indohyus, is the first whale ancestor known to have lived on land.On what basis did Thewissen and his team think this fossil had anything to do with whales?  The teeth are “similar to those of aquatic animals,” and the bones suggest a heavy stance like that of hippos.  The bones around the inner ear look similar to those of cetaceans, the article claims.  That’s about all the data this article mentioned, yet the certainty that this represents the missing link continued:The evolutionary path of the whale is one of the most extraordinary on record.  In less than 10m years, the whale’s ancestors completely transformed as they shifted from a four-legged life on land to a life in the ocean.    The first whales, Pakicetidae, emerged around 50m years ago and resembled land mammals rather than the giant marine creatures of today.  These evolved into large, powerful coastal whales, or Ambulocetidae, that had big feet and strong tails.  Later, whales lost their hind limbs and hair and developed powerful tail fins and flippers.One difficulty is that this fossil “overturns a previous assumption that the ancestors of whales were already carnivores before they left land for a life beneath the waves.”  Being a herbivore, what was it doing in the water?  Thewissen thinks it was acting like the modern mouse deer of Africa, which escapes from eagles by diving under the water for up to four minutes.    To reinforce the missing-link message of Indohyus, the article stuck it to the creationists:Fred Spoor, an anthropologist at University College London, said the significance of the latest find was comparable to Archaeopteryx, the first fossils to show a clear transition between dinosaurs and birds.  “For years cetaceans were used by creationists to support their views because for a long time the most primitive whales known had bodies that looked like modern whales, so there seemed to be this enormous gap in evolution.  But since the early 1990s, there’s been a rapid succession of fossils from India and Pakistan that beautifully fill that gap,” he said.    “The tables are turned now because we have fossils that show that dramatic transition step by step.  Cetaceans are almost the only group that has made such a rapid change from a land environment to an aquatic one.  “Unlike sealions and seals, which still spend some time on land, cetaceans are completely committed to the water now, and it had an enormous effect on their physiology.  They had to change everything.”This last sentence, they had to change everything, makes it sound as if the whales directed their mutations with the goal of becoming aquatic – that is most certainly not what the evolutionists mean.  Such language, however, blurs the way the Darwinian mechanism is supposed to work.  Individual members of Indohyus or cetaceans could not possibly know or care what was happening to them.  Evolution works on the genes in large populations over a long, drawn-out process involving mutations selection pressures without any goal in mind – certainly not in the minds of any individual animals.  No amount of individual striving gets passed on to the offspring – that would be Lamarckism.    The article ends with the “more work to do” theme, but includes more purpose-driven language on the part of the whales:Thewissen’s group will next study Indohyus further to learn more about its diet and habitat.  One critical change that occurred when whales took to the water involved its sense of balance and orientation.  In land mammals, this is governed by a vestibulary system in the inner ear, but whales had to adapt to moving in three dimensions, driving the evolution of a more complex system.    “This fossil completes the picture in terms of the whales’ evolution, but what’s next is to look at these other evolutionary adaptations,” said Thewissen.So the frame of the puzzle is done, and now it’s just a matter of filling in the middle.  Is that what the original paper said?  In the journals, scientists tend to be more reserved in their announcements than in the popular press.  It’s interesting that for a discovery this “dramatic” there was no review article accompanying the paper.    The abstract says that Indohyus was a “sister group” to the whales.  This means it was not on the path to whalehood, but both had a common ancestor.  Claims that whale evolution is “documented” and “strongly supported” continue in the paper, but the opening paragraph leads one to suspect that a single fossil species like Indohyus cannot be expected to solve all the problems:Phylogenetic analyses of molecular data on extant animals strongly support the notion that hippopotamids are the closest relatives of cetaceans (whales, dolphins and porpoises).  In spite of this, it is unlikely that the two groups are closely related when extant and extinct artiodactyls are analysed, for the simple reason that cetaceans originated about 50 million years (Myr) ago in south Asia, whereas the family Hippopotamidae is only 15 Myr old, and the first hippopotamids to be recorded in Asia are only 6 Myr old.  However, analyses of fossil clades have not resolved the issue of cetacean relations.  Proposed sister groups ranged from the entire artiodactyl order, to the extinct early ungulates mesonychians, to an anthracotheroid clade (which included hippopotamids), to weakly supporting hippopotamids (to the exclusion of anthracotheres.Indohyus is an Eocene artiodactyl in a group Raoellidae, which previously had no linkage to the whale line.  Thewissen et al are therefore making a radical new hypothesis.  “This has profound implications for the character transformations near the origin of cetaceans and the cladistic definition of Cetacea, and identifies the habitat in which whales originated,” they say.  “Taken together, our findings lead us to propose a new hypothesis for the origin of whales.”    New hypotheses, however, tend to create as many problems as they solve, because old assumptions get discarded.  Evolutionists have already been claiming for years that the whale evolution story is strongly supported with other fossils.  How can a specimen from a small, extinct deer-like animal wedge its way into an existing story?  It becomes necessary to juggle things around:To investigate the importance of raoellids in cetacean phylogeny, we excluded raoellids from our initial phylogenetic analysis of artiodactyls plus cetaceans.  Our data set differed from previous analyses by the addition of several archaic anthracotheres, and some corrected scores for pakicetid cetaceans.  This analysis found stronger support for hippopotamid�cetacean sister-group relations than the previous analysis, consistent with molecular studies.  However, the base of the artiodactyl cladogram is poorly resolved (see Supplementary Information for details on phylogenetic runs).This is how phylogenetic analysis is really done.  Assumptions are made, and some earlier associations get tossed by the wayside in an effort to achieve a desired amount of “consistency.”  So Thewissen and team changed the recipe and got some new flavors:In a second cladistic analysis (Fig. 2), we added the raoellids Khirtharia and Indohyus as well as several archaic ungulate groups (condylarths) and found that raoellids and cetaceans are sister groups and that they are the basal node in the Cetacea/Artiodactyla clade, consistent with some previous analyses that used different character sets.  Our analysis is the first to show that raoellids are the sister group to cetaceans, resolving the biogeographic conundrum and closing the temporal gap between cetaceans and their sister.  Relations between most artiodactyl families higher in the tree are poorly resolved, and our data lack implications for the relations between these families.  Our analysis strongly argues that raoellids and cetaceans are more closely related to each other than either is to hippopotamids.This is a human line of argument – not a single, clear, uncontroversial picture emerging inescapably from the data.  Everything is inference: trying to find a pathway through scattered data points, after first assuming a pathway exists.  The reader should not picture a straight line from Indohyus to Blue Whale.  The human researchers are picking their way through a data forest with a goal in mind.  The forest is not leading them on a single yellow brick road.    Indohyus, for instance, has a thickening around its middle ear that was thought diagnostic of cetaceans.  What does this mean?  The paper presents two possibilities: either Indohyus was similar to whales, or this trait can no longer be thought characteristic of whales.  As with Tiktaalik, the data present mosaics of traits that require human judgment about what goes with what clade, and which clades are closer or farther apart.    In the paper, the team considered various groupings, but made decisions based on their own preferences: e.g., regarding one alternative tree, they said, “We do not prefer this classification because it causes instability by significantly altering the traditional content of both Artiodactyla and Cetacea.”  The team sought the most “parsimonious” tree of descent – but parsimony is a human value, not a whale value.  Not even all humans will agree what constitutes parsimony.    The team acknowledged that cetaceans and raoellids possess some synapomorphies (derived traits shared by terminal groups), but then said, “None of these features characterize all modern and extinct cetaceans; the dental characters, for instance, cannot be scored in toothless mysticetes.  In addition, all of these characters are found in some mammals unrelated to cetaceans.”  There are multiple ways to interpret the data, therefore.  The synapomorphies might indicate relationship – or, they could overthrow assumptions about which traits are diagnostic of which clades.  Clearly, this team did not attach any significance to the similarities that didn’t fit a deer-to-whale lineage.  “We attach particular importance to two character complexes that characterize basal cetaceans,” they said, but that assumes what needs to be proved (circular reasoning).    The team attached great importance to the teeth.  But Indohyus, they said, was a herbivore, and whales are carnivores; how much about relationship can be inferred from teeth of groups with very different dietary habits and behaviors?  What kind of tree would have resulted had they attached particular importance to other traits?  One can imagine other evolutionary paleontologists having their own assumptions, preferences, methodologies, and arriving at very different conclusions.     Other traits were mentioned that do not help the story of whale evolution.  The team noticed that the leg bones showed osteoporosis, which they interpreted as meaning that Indohyus was stable in the water – but not a swimmer: “We interpret the limb osteosclerosis of Indohyus to be related to bottom walking and not to slow swimming, because the limbs are gracile and not modified into paddles.”  Other mammals, however, like beaver and otters and sea lions, show more modifications for aquatic lifestyle than this creature, and no one lumps them into a whale phylogeny.  So even if the oxygen or carbon isotopic ratios in the tooth enamel show a probability the creature lived a good part of its time in the water, how much can this tell us about its evolutionary path?  As a matter of fact, the team decided the diet of Indohyus was significantly different than whale diet.    So here is the long and short about this creature:Indohyus was a small, stocky artiodactyl, roughly the size of the raccoon Procyon lotor (Fig. 5).  It was not an adept swimmer; instead it waded in shallow water, with its heavy bones providing ballast to keep its feet anchored.  Indohyus may have fed on land, although a specialized aquatic diet is also possible.Whales do not use their bones as ballast to stay anchored to the bottom.  They do not eat vegetables.  They do not walk on four feet.  By what kind of convoluted reasoning can a raccoon-size deer be considered ancestral to dolphins and blue whales?    Even if it spent more time in water than the modern mouse deer, many mammals are accustomed to water: moose, bears, water buffalo, and of course otter and beaver – why are they not in the race to become whale ancestor?  The researchers even admitted that “The great evolutionary change that occurred at the origin of cetaceans is thus not the adoption of an aquatic lifestyle.”  They pinned all their inference on diet: “Here we propose that dietary change was the event that defined cetacean origins,” they said – but that is a radically new proposal from what they said before, because Indohyus eats plants, and whales don’t.  By all measures, it seems this new creature is even further removed from whale ancestry than the last candidate.    Their ending paragraph summarized the just-so story of how Bambi evolved into Moby Dick:Our working hypothesis for the origin of whales is that raoellid ancestors, although herbivores or omnivores on land, took to fresh water in times of danger.  Aquatic habits were increased in Indohyus (as suggested by osteosclerosis and oxygen isotopes), although it did not necessarily have an aquatic diet (as suggested by carbon isotopes).  Cetaceans originated from an Indohyus-like ancestor and switched to a diet of aquatic prey.  Significant changes in the morphology of the teeth, the oral skeleton and the sense organs made cetaceans different from their ancestors and unique among mammals.This is, as they themselves said, only a “working hypothesis” at best.  Compare that with the triumphal announcements in the The Register quoted at the beginning of this entry: “The tables are turned now [against the creationists] because we have fossils that show that dramatic transition step by step.”Update 12/26/2007: Science Now reported on the Thewissen claim, but ended with an alternative: “Another analysis, in press at Cladistics, suggests that an extinct group of carnivorous mammals, called mesonychids, were more closely related to cetaceans.”  Mesonychids looked less like Bambi and more like the Big Bad Wolf.  The only similarity seems to be that they were equidistant from Moby Dick.1.  Thewissen, Cooper, Clementz, Bajpai and Tiwari, “Whales originated from aquatic artiodactyls in the Eocene epoch of India,” Nature 450, 1190-1194 (20 December 2007) | doi:10.1038/nature06343.Will evolutionists actually tell lies to push their beliefs?  Yes—you saw it right here.  Fred Spoor told you that Archaeopteryx represents a clear transition between dinosaurs and birds, when he knows full well it appeared too late in his own evolutionary timeline to be a missing link (10/24/2005).  The big lie in the Nature article, and in the popular press, was to portray this fossil discovery as a great victory for evolution, and a step-by-step sequence showing the whole ancestry.  It is no more victory than picking up a spent lottery ticket on the dusty ground and thinking it is a missing link to riches.    Philosophers of science could have some good banter about the logic of discovery – whether they discovered something true to nature in the data, or imposed their own experiences and preferences on the data.  Clearly, this team decided to pick and choose a few traits from a fossil they preferred over other problematical ones, and from these to weave a whale of a just-so story with which to dupe the public and shoot the creationists.  Well, their shot only hurt as much as a blast of bad breath in the face, that’s all.  You know what to expect from National Geographic, and you got it: “Whales Evolved from Tiny Deerlike Mammals, Study Says.”  The bigger the whopper, the better; have it your way, NG (10/24/2004).  Not to be left behind in the Whopper Olympics, the BBC News trumpeted, “Whale ‘missing link’ discovered.”    This is the mess of things that Charlie Darwin left in his wake when he allowed the magicians and storytellers into the once noble halls of science (12/22/2003 commentary).  It’s time to clear house and clean up.  Send the whole lot of them back to school to learn some history and philosophy and ethics, and make them sign a commitment to speak the truth, the whole truth and nothing but the truth.  That would solve most of the problems in the contentious creation-evolution debate.    Bambi to Moby Dick—incredible.  PhD scientists actually believe that?  They want that taught in the schools?  We need a new word that means to laugh and cry at the same time, because this whale of a tale deserves a whopping blubberfest.  Maybe the word howl will do.  Perhaps this is why the humpback whales are howling.(Visited 47 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

Cosco Shipping Leasing to Raise Cash for Loan Repayment

first_imgzoom China-based Cosco Shipping Leasing is looking to raise CNY 2.02 billion (USD 318.2 million) through the issuance of asset-backed securities.The company plans to use the proceeds from the proposed issuance to repay its loans.The securities, which will be listed on the Shanghai Stock Exchange, will be divided into senior and subordinated classes, according to a release by the company’s parent, Hong Kong-listed Cosco Shipping Development.The senior classes would be in the principal amount of not more than CNY 1.86 billion, which will account for 92.04% of the proposed issuance and will be issued to qualified investors in the PRC, while the subordinated class would be in the principal amount of not more than CNY 161.1 million, or around 7.96% of the proposed issuance and will be subscribed by Cosco Shipping Leasing.The securities will have a term of not more than four years and will be backed by the creditor’s rights and collateral interests of Cosco Shipping Leasing pursuant to certain finance leases.The completion of the issuance is subject to, among other things, the obtaining of the no objection letter to be issued by the Shanghai Stock Exchange.last_img read more

Authorities worried about cases of legionnaires disease in Quebec town

first_imgGRANBY, – Quebec public health officials are trying to determine the source of contamination that is causing an abnormally high number of cases of legionnaires’ disease in a town east of Montreal.They say say seven cases have been confirmed in Granby and that an eighth person is being evaluated.Health teams are looking for the source of the contamination in a specific area of the town, which is about 85 kilometres from Montreal.The public health service in the region has also reported three cases in Sherbrooke, but says there is no connection between the two outbreaks.In 2012, an outbreak of legionnaires’ disease led to the deaths of 13 people in Quebec City. Overall, 181 people were affected.A cooling tower in a building was identified as the source of the contamination.last_img

Canada sending peacekeepers to Mali aviation task force there up to 12

first_imgOTTAWA – Canada will be dispatching an aviation task force to the troubled West African nation of Mali as part of a United Nations peacekeeping mission, a senior government official said Friday.The government source said the task force will be in Mali for up to 12 months and an official announcement on the deployment will be made Monday.It will be Canada’s first peacekeeping mission in Africa since the early 1990s when troops were sent to Rwanda and Somalia.Mali has been in turmoil since a 2012 uprising prompted soldiers to overthrow the country’s president. The power vacuum that was created led to an Islamic insurgency and a French-led war that ousted the jihadists from power in 2013.However, insurgents remain active and the UN has seen its multinational peacekeeping force in the region suffer more than 150 fatalities since its mission began in 2013.In terms of troop numbers, Canada is currently at a historic low for participation in peacekeeping missions. Canada had a total of 43 peacekeepers deployed around the world at the end of December, the most recent UN numbers indicate, down from 62 in November.The decline, largely the result of a reduction in the number of Canadian police officers deployed to Haiti, means Canada has fewer peacekeepers in the field than at any point since the 1950s.The deployment to Mali will help fulfil a pledge Prime Minister Justin Trudeau made in November during a peacekeeping summit in Vancouver.The prime minister unveiled a package of measures, which include offering up to six helicopters and two transport aircraft, plus their associated pilots and support personnel, as well as a 200-strong quick reaction force to the UN.Trudeau also pledged $21 million to help double the number of women deployed on peacekeeping operations around the world, which he emphasized as critical to bringing peace and stability to conflict-ridden areas.last_img read more

Courtesy Calls at Government House

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, October 13, 2017 – Nassau – Her Excellency, Dame Marguerite Pindling, Governor General (centre) welcomed Executives of the National Junkanoo Committee in a Courtesy Call at Government House on Wednesday, October 11, 2017.Pictured from left: Ellery Deveaux, Junkanoo Co-ordinator, Ministry of Youth Sports & Culture; Kishlane O’Brien, Co-Chair, National Junkanoo Committee; H.E. Dame Marguerite Pindling; Nicole Sutherland-King, Legal Representative, National Junkanoo Committee; and Vernon Rolle, Parade Management & Task Force, National Junkanoo Committee.(BIS Photo/Letisha Henderson) Minister Ricardo Miller (seated centre left) and the Children’s Ministry paid a courtesy call upon Her Excellency Dame Marguerite Pindling, Governor-General (seated centre), at Government House on Wednesday, October 11, 2017.(BIS Photo/Letisha Henderson) Facebook Twitter Google+LinkedInPinterestWhatsAppcenter_img Related Items:last_img read more

STUDENT SPOTLIGHT Wilmingtons Brenden Ross Named To Deans List At Norwich University

first_imgNORTHFIELD, VT — Brenden Mark Ross, of Wilmington, was named to the Dean’s List for the Fall 2018 semester at Norwich University.Full-time undergraduate students, who earned a semester grade point average of at least 3.0 and had no failures in the previous Fall or Spring semester are awarded Dean’s List honors.About Norwich UniversityNorwich University is a diversified academic institution that educates  traditional-age students and adults in a Corps of Cadets and as civilians. Norwich offers a broad selection of traditional and distance-learning  programs culminating in Baccalaureate and Graduate Degrees.Norwich University was founded in 1819 by Captain Alden Partridge of the U.S. Army and is the oldest private military college in the United States of America. Norwich is one of the nation’s six senior military colleges and the birthplace of the Reserve Officers Training Corps (ROTC).(NOTE: The above announcement is from Norwich University.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedWilmington’s Halliday Named To Dean’s List At Norwich UniversityIn “Education”STUDENT SPOTLIGHT: 3 Wilmington Students Named To Dean’s List At Regis CollegeIn “Education”STUDENT SPOTLIGHT: 5 Wilmington Students Named To Dean’s List At University Of MaineIn “Education”last_img read more

State Rep Ken Gordon Joins Middlesex County Restoration Center Commission

first_imgBEDFORD, MA – State Representative Ken Gordon (D – 21st Middlesex), who represents Precinct 3 in Wilmington, has officially been named to a commission tasked in part with breaking the cycle of arrest and incarceration for those with mental health and/or substance use disorders in Middlesex County.The Massachusetts Legislature established the 11-member Middlesex County Restoration Center Commission in 2018 to develop a plan for creating a restoration center in Middlesex County. The center would help expand community capacity for treatment while supporting law enforcement diversionary efforts.Co-chaired by Middlesex Sheriff Peter J. Koutoujian and President and CEO of the Massachusetts Association for Mental Health Dr. Danna Mauch, the commission includes State Senator Cindy Friedman (D – Fourth Middlesex), and representatives of the judiciary, as well as public and behavioral health stakeholders.“Rep. Gordon brings valuable insight and experience to this process,” said Sheriff Koutoujian. “His voice will be critical as we seek to break the cycle of incarceration and produce better outcomes for those in our communities with mental health and substance use disorders.”“Representative Gordon has a leadership track record in addressing the special needs of persons with behavioral health conditions through community stakeholder engagement and targeted program initiatives,” noted Dr. Mauch.  “His contributions will be instrumental in crafting feasible solutions to the problem of overrepresentation of people with these conditions in our jails.”“I’m thrilled that Rep. Gordon have joined the Middlesex County Restoration Center Commission,” said Senator Friedman.  “His background and experience will provide valuable insight to our commission and will help us in our continued effort to establish a restoration center to improve the lives of those with behavioral health needs and reduce unnecessary incarceration throughout the county.”“It is an honor and a tremendously valuable experience to contribute to this worthy commission and to work with [Bedford Police] Chief Bongiorno who adds an important voice in representing the law enforcement community,” added Rep. Gordon.(NOTE: The above press release is from the Middlesex Sheriff’s Office.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedMiddlesex County Restoration Center Commission Holds Inaugural MeetingIn “Police Log”State Rep. Ken Gordon To Hold Office Hours At As Good As It Gets On September 7In “Government”State Rep. Ken Gordon Provides Updates On State Budget; New Shuttle Bus Service; Hanscom Air Force Base & MoreIn “Government”last_img read more

Sujoy Ghoshs Badla beats Kahaanis week 1 box office collection mints USD

first_imgBadla box office collectionYouTube ScreenshotThe recently released movie Badla has hooked the nation with it’s intriguing and thrilling content.Sujoy Ghosh’s murder mystery starring Amitabh Bachchan and Taapsee Pannu, leaves the audience on the edge of the seat. Like Kahani shocked everyone with its brilliant thriller climax, Badla too offers a story full of twists and turns.As Badla completed its week 1 at the box office, the Sujoy Ghosh directorial has surpassed the collection of his last outing Kahaani by raking in Rs 38 crore at the Indian box office. Kahaani had garnered Rs 23.79 crore in its first week.Globally, the film has collected USD 2.45 million (few territories yet to report) in its first week.Post engaging the audience in the lucrative run of Kahani, Badla has been minting moolah at the box office presenting equally captivating, if not more, murder mystery.The crime thriller revolves around Taapsee Pannu’s character Naina who is stuck in a murder case.Playing Badal Gupta, a lawyer to Naina, Amitabh Bachchan has recreated the magic of Pink.Also starring Amrita Singh, Tony Luke and Manav Kaul in supporting roles, Badla has been gauging appreciation for the remarkable performances.Badla is presented by Red Chillies Entertainment in association with Azure Entertainment, Co-produced by Gaurav Verma and produced by Gauri Khan, Sunir Kheterpal and Akshai Puri , the crime thriller is directed by Sujoy Ghosh, starring Amitabh Bachchan and Taapsee Pannu in the lead roles is running successfully in theaters.last_img read more

Is the SaudiRussian oil agreement another false dawn

first_imgOil futures spiked by over 1.5% on Monday (5 September) after Saudi Arabia and Russia – two of the worlds leading oil producers – said they would work towards seeking solutions aimed at stabilising global crude supplies.With both countries collectively pumping over 20m barrels per day of oil between them, a statement issued at the G20 summit in China calling for cooperation to support oil markets by Moscow and Riyadh saw global benchmarks extend Fridays gains supported by Russian President Vladimir Putins comments.At 13:15 pm BST, the Brent front month futures contract was up 1.51% or ¢76 to $48.02 per barrel, while the West Texas Intermediate was up 1.69% or¢ 75 to $47.49 per barrel.Despite the statement being low on details, Russian Energy Minister Alexander Novak and his Saudi counterpart Khalid al-Falih made clear their desire to support the stability of the oil market ensuring a stable level of investment in the long term.Novak added that the agreement was a historic moment between OPEC members, among whom Saudi Arabia is the largest of oil producers, and non-members, where Russia leads the way.Saudi Arabia and Russia, along with other OPEC and non-OPEC producers, are scheduled to hold talks in Algiers on the sidelines of the International Energy Forum due to be held from 26 to 28 September.Analysts at Vienna-based JBC Energy said the announcement appeared to be on the cards for much of the weekend. It follows a meeting between Russian President Vladimir Putin and Saudi Deputy Crown Prince Mohammed bin Salman on the fringes of the G20 meeting in China.Market got further [demand-side] clarity, after China released data for its strategic petroleum reserve of crude oil, showing that the reserve had reached a level of 233m barrels at the beginning of 2016, up 43m barrels from mid-2015.Analysts at ABN Amro said the development was indicative of the fact that yet another verbal intervention by major producers was needed to trigger a recovery towards $50 per barrel.If oil prices remain too low ahead of the [September] producers meeting, there is a risk that at some point Russia and Saudi Arabia actually need to act. That would probably be the last thing they want as long as Iran is raising output.Away from the oil market, precious metals headed higher after disappointing US non-farm payroll (NFP) data saw the immediate risk of a US interest rate hike recede.At 1:06pm BST, Comex gold for December delivery rose 0.28% or $3.70 to $1,330.40 an ounce. FXTM research analyst Lukman Otunuga said gold benefitted as dollar bulls were left empty handed by Fridays NFP report.Soft US jobs data may have provided a strong reason for the Fed to remain on standby in September. For December to be a live meeting for the Fed to break the tradition of central bank caution, US data may have to repeatedly exceed expectations. Nonetheless, gold is zero yielding and the dollar connect makes it quite vulnerable to rate hike speculations.Finally, Comex silver futures were 0.85% or ¢16 higher at $19.53 an ounce, spot platinum was up 0.78% or $8.31 to $1,072.15 an ounce.last_img read more