City warns over rights issue rip off

first_img whatsapp whatsapp Tags: NULL KCS-content INVESTMENT banks have been slammed by the City’s top institutional investors for charging unfairly high fees to companies raising capital through rights issues.An inquiry commissioned by the Institutional Investor Council, backed by the Association of British Insurers and the National Association of Pension Funds, lashes out at investment banks today for charging underwriting fees far in excess of the level of risk they face, and taking advantage of companies’ inexperience in capital markets.The Rights Issue Fees Inquiry follows criticism of credit crunch rights issues launched by companies such as housebuilder Taylor Wimpey. The fees charged were a poor use of shareholder capital and should come under a similar level of scrutiny as outgoings such as executive pay, it said.Inquiry chairman Douglas Ferrans said companies were “paying too much to ensure the deal is a success.”“These costs have increased disproportionately to the risks,” he said. “What we have seen over the period is the risks of underwriting contract quite substantially and we would have expected costs to come down.”Rights issue fees almost doubled from two per cent in 1999 to 3-4 per cent in 2009 as distressed companies were forced to raise fresh capital in risky market conditions.Shortly after the credit crisis property firm Barratt paid £27m in fees to banks advising its £720m rights issue, while builders merchant Travis Perkins paid HSBC and Citigroup £12m to underwrite its £300m issue. Business Secretary Vince Cable welcomed the inquiry’s work.“Their report calls for more transparency and competition in the capital-raising process to ensure highly inflated fees become a thing of the past,” he said. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child center_img Monday 13 December 2010 9:41 pm Show Comments ▼ City warns over rights issue rip off But investment banking sources told City A.M. last night underwriting was still highly competitive. “The danger with these reports is that it might be inferred that there is something sinister going on – but these services are being provided by a competitive industry,” one source said.RBC Capital Markets and Barclays Capital structured a £2bn rights issue for life funds group Resolution in June in which they charged full fees for only the risk they underwrote and reduced fees for the risk that was sub-underwritten. Joshua Critchley of RBC Capital Markets said: “It better aligned risk and reward for the underwriting banks. I believe that you’ll see this structure used again.” Sharelast_img read more

First Mutual Holdings Limited HY2009 Presentation

first_imgFirst Mutual Holdings Limited ( listed on the Zimbabwe Stock Exchange under the Insurance sector has released it’s 2009 presentation results for the half year.For more information about First Mutual Holdings Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the First Mutual Holdings Limited ( company page on AfricanFinancials.Document: First Mutual Holdings Limited (  2009 presentation results for the half year.Company ProfileThe Group has more than a hundred years of serving Zimbabwe by provision of economic dignity though its strategic business units. We have diverse interests in life assurance, health insurance, short term insurance; short term re-insurance; long term re-insurance; wealth management, property sector, funeral services and microfinance housed under the following subsidiaries; First Mutual Life, First Mutual Health, NicozDiamond Insurance, First Mutual Reinsurance, FMRE Property & Casualty (Botswana), First Mutual Wealth Management, First Mutual Properties, First Mutual Funeral Services and First Mutual Microfinance. First Mutual Holdings Limited is listed on the Zimbabwe Stock Exchange.last_img read more

The Co-operative Bank of Kenya Limited ( HY2013 Interim Report

first_imgThe Co-operative Bank of Kenya Limited ( listed on the Nairobi Securities Exchange under the Banking sector has released it’s 2013 interim results for the half year.For more information about The Co-operative Bank of Kenya Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the The Co-operative Bank of Kenya Limited ( company page on AfricanFinancials.Document: The Co-operative Bank of Kenya Limited (  2013 interim results for the half year.Company ProfileThe Co-Operative Bank of Kenya Limited is a financial services institution offering banking products and services for the retail banking and wholesale banking sectors in Kenya. Its full-service offering ranges from transactional banking products to access accounts, LPO financing, invoice discounting services, term loans, asset finance and letters of credit. The company also provides medical, motor, general, life, agriculture and micro-business insurance as well as treasury products, fixed income and money market products and money transfer services. The Co-Operative Bank of Kenya was founded in 1965 and its head office is in Nairobi, Kenya. The company is a subsidiary of Co-op Holdings Co-operative Society Limited. The Co-Operative Bank of Kenya Limited is listed on the Nairobi Securities Exchangelast_img read more

Redpath calls up Gloucester’s young guns

first_imgLATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS “They’ll be disappointed about last week because, if they lose, they rarely lose by that amount. They’ll be pretty fired up at the weekend.”“We’ve highlighted that they don’t lose very often at home and we know that we’re in for a very tough game and it could well be close. We’re going away from home to a top two club and we’ve got to front up.”“The performance will be key. As we’ve said in the past, if the performance is there then the result will take care of itself.”Gloucester Rugby:Olly Morgan; Jonny May, Tim Molenaar, Eliota Fuimaono-Sapolu, Tom Voyce; Nicky Robinson, Jordi Pasqualin; Nick Wood, Olivier Azam, Paul Doran-Jones; Will James, Jim Hamilton; Peter Buxton, Akapusi Qera, Luke Narraway (capt)Replacements: TAGS: GloucesterNorthampton Saints Injuries and international call ups mean that Gloucester Rugby Head Coach Bryan Redpath has called up a couple of his young guns for Saturday’s Aviva Premiership Rugby fixture at Northampton Saints.Redpath has tried, by and large, to keep faith with the side that defeated London Irish at Kingsholm last Friday.However, the resumption of the RBS Six Nations sees the Lawsons, Rory and Scott, named in the Scotland squad and Mike Tindall, of course, is away captaining England.In addition, Dave Lewis and Charlie Sharples both picked up knocks in the victory over the Exiles and are ruled out.As a result, Jonny May (above) and Jordi Pasqualin are named on the right wing and at scrum half respectively and England U20 scrum half Dan Robson is recalled from international duty to take his place amongst the replacements.Meanwhile, in the pack, Olivier Azam comes in for Lawson at hooker and Akapusi Qera gets the nod instead of Andy Hazell who played against Irish despite being unwell.Of note amongst the replacements are the returns to the first team squad of Dave Attwood and Henry Trinder who both made playing comebacks in the A League on Monday evening.Saints have been pacesetters in the Aviva Premiership this season but went down to a 38-8 defeat at Bath last weekend, a result which Redpath knows will give Jim Mallinder’s side all the motivation they need. Darren Dawidiuk, Yann Thomas, Rupert Harden, Dave Attwood, Alasdair Strokosch, Dan Robson, Freddie Burns, Henry Trinderlast_img read more

Archbishop of Canterbury calls for UK-based international Joint Reconciliation Unit

first_img An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Course Director Jerusalem, Israel Rector Belleville, IL Rector Smithfield, NC In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Rector Pittsburgh, PA Submit an Event Listing Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET Assistant/Associate Rector Washington, DC Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET New Berrigan Book With Episcopal Roots Cascade Books Associate Rector Columbus, GA Tags Youth Minister Lorton, VA Bishop Diocesan Springfield, IL Rector (FT or PT) Indian River, MI Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT [Anglican Communion News Service] Archbishop of Canterbury Justin Welby has called on the British government to establish a Joint reconciliation Unit to work in conflict zones around the globe. The archbishop made his call during a debate he led in the House of Lords on reconciliation.Read the full article here. Missioner for Disaster Resilience Sacramento, CA Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 Posted Dec 14, 2018 Assistant/Associate Priest Scottsdale, AZ Priest-in-Charge Lebanon, OH Submit a Job Listing Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Associate Priest for Pastoral Care New York, NY TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab Family Ministry Coordinator Baton Rouge, LA Rector Hopkinsville, KY Curate Diocese of Nebraska Rector Martinsville, VA Press Release Servicecenter_img Canon for Family Ministry Jackson, MS Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Submit a Press Release Associate Rector for Family Ministries Anchorage, AK Rector Bath, NC Director of Music Morristown, NJ Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem Rector Albany, NY Anglican Communion, Archbishop of Canterbury Curate (Associate & Priest-in-Charge) Traverse City, MI Rector Collierville, TN Rector Shreveport, LA Featured Jobs & Calls This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Rector Knoxville, TN Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Director of Administration & Finance Atlanta, GA Priest Associate or Director of Adult Ministries Greenville, SC Rector Washington, DC Cathedral Dean Boise, ID Archbishop of Canterbury calls for UK-based international Joint Reconciliation Unit Rector Tampa, FL Rector and Chaplain Eugene, OR The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group Assistant/Associate Rector Morristown, NJ AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Rector/Priest in Charge (PT) Lisbon, ME Featured Eventslast_img read more

New quality mark for promotion of payroll giving schemes

first_imgNew quality mark for promotion of payroll giving schemes Howard Lake | 15 November 2005 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving. The Institute of Fundraising has announced that a new Quality Mark scheme that recognises and rewards charities and businesses for making Payroll Giving schemes available and promoting them to staff will be launched in January 2006.The Quality Mark scheme will encourage employers to sign up to Payroll Giving and promote it to staff. Those meeting certain requirements will then be rewarded them with a certificate and use of a logo which they can use to demonstrate publicly demonstrate their commitment to good causes. Bronze, Silver and Gold Awards will be presented to those employers that achieve tiered employee participation target levels. Advertisement AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis The Institute will announce further details when the scheme is launched in January 2006.  19 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThislast_img read more

Dee J. Kelly Center offers alternative study space for students

first_imgAdam Kelley Twitter Adam Kelley TCU implements new writing contest Facebook Linkedin + posts TCU students react to an increase in drug violations Twitter Bridging the divide: TCU promotes dialogue between Christianity and Islam Adam is a senior writing major, journalism and religion double minor. He covers crime and public safety for TCU360. TCU students speak out on civil rights issues ReddItcenter_img ReddIt Students debut performances of drag personas as part of unique new course Adam Kelley Adam Kelley printAlumni Relations will be offering free food and study materials in the Dee J. Kelly Alumni Center during dead days in an effort to provide an alternative study space to the often-crowded library.“We know that finals week is a stressful time for students, so if we can do anything to make it a little bit easier, we’re happy to do that,” said Laura Gore, assistant director of alumni relations.Free blue books, pencils, highlighters, scantrons, and other materials will be provided from noon until 10 p.m. on Thursday and Friday for students to take as they please.In addition, a table will be prepared with bagels, fresh fruit, granola bars and chips further down the main hall.The Dee J. Kelly alumni center is just one of several places on campus students might not think to go to study during dead days.“I think studying on the third floor of the [Brown-Lupton University Union] is one of the best-kept study secrets on campus,” said Bernie Garces, a senior kinesiology major.“There aren’t many people to deal with, and it’s normally pretty quiet.”Senior music performance major Spiro Nicolas shared the same opinion. He said that aside from his own house, it was his favorite place to go before finals.“I like to study in the one of the meeting rooms on the third floor of the BLUU. It’s quiet and I am really able to focus,” he said.Senior nursing major Steffi Loe mentioned a small area on the second floor of the TCU Barnes & Noble as one of her favorites, as it was never crowded like the library.Other students suggested empty classrooms in the Sid W. Richardson building, the bottom floor of the University Recreation Center, and the hall connecting Beasley House to the Robert Carr Chapel. Facebook Linkedin Previous articleFrogs cruise to 73-55 victory over Prairie View A&MNext articleTCU falls to No. 3 Notre Dame, 88-72 Adam Kelley RELATED ARTICLESMORE FROM AUTHOR The College of Science and Engineering Dean, Phil Hartman, retires after 40 consecutive years Adam Kelley Condensed semester, lost week to snowstorm adding to some students stress during finals weeklast_img read more

Gang evolution does not match common perceptions

first_imgFacebook Grains to grocery: One bread maker brings together farmers and artisans at locally-sourced store Abortion access threatened as restrictive bills make their way through Texas Legislature Tori Knox Teenage pregnancy rates remain high in Tarrant County Tori Knox + posts Tori Knox Facebook Twitter Fort Worth’s cat population remains steady Linkedin printHandkerchiefs, bandanas and baggy jeans are no longer the unofficial uniform for gang-bangers. Gangs no longer lay claim to a particular side of town.Gang violence in Fort Worth was at its peak from the 1980s until the early 2000s. Over time, the violence has decreased and the traditional gang-banger lifestyle no longer exists.NARCOTIC SALESThe public’s common understanding of gangs has become obsolete, according to Fort Worth police gang experts.The evolution of crime is seen in gangs’ almost exclusive moneymaking focus, said Steve Groppi, a Fort Worth police officer who has worked with the gang unit since 1992.Gangs are most actively involved in narcotic sales. The main drug in Fort Worth is methamphetamine, said Brian Hall, director of Comin’ Up, a gang-intervention program.The American dream, the goal of a comfortable lifestyle, appeals to gang members, former leader of the Fort Worth west side Crips Abdul Chappell said.“[Gangs are a way] to acquire the American dream. [It was] the way we saw people around us doing it,” Chappell said.That shortcut to making money is the driving factor in gang activity today, Jesus Alaniz Fort Worth Police Department sergeant and Gang Enforcement Team Two supervisor said.“It’s all about money and cars,” he said. “It’s living the fast life.”Gangs and narcotics are tied together, Chappell said. “Here is access to [making money] by selling dope, or being involved with this particular crew.”In the 1980s and 1990s, gangs resembled less of a hierarchy organization than today, Alaniz said.“It was a brotherhood,” Chappell said.Over time, the brotherhood structure has been replaced with a culture similar to organized crime, Groppi said.The culture is now heavily influenced by drug cartels, Hall said.The lifestyle typically migrates from California.“Everything starts there,” Alaniz said.But, despite the California influences, Fort Worth has its own persona and lifestyle, Hall said.“The traditional way is gone,” Hall said. “Gang lifestyle from before is kind of cliché to the younger generation. They don’t want to be that gangbanger that their dad was or their uncle was.”THE CLOTHESIn the 1980s, gangs began to wear colors as a way of claiming their affiliation, said Chappell.When colors began to be used as identifiers, Hollywood also began to glamorize gang activity, Chappell’s journey into the gang lifestyle began when he stole his mother’s car and drove to California in hopes of meeting N.W.A. and Eazy-E so he could join Ruthless Records.N.W.A. was one of the figures in the sub-genre gangsta rap, which has become more popular over time.Now, artists like Go Yayo, are commonplace on YouTube and gang members are following those examples, Chappell said.“They actually believe that all that stuff is going on, like I believed Eazy-E and the N.W.A was really doing what they were [showing],” Chappell said.The mainstream acknowledgement and glamorization of gangs has coincided with the focus on making money.There has been a huge shift in the way gang members show their affiliation, Hall said. Colors aren’t worn anymore. The Crips and bloods are no longer wearing blue and red from head to toe, he said.During the height of gang violence, identifying gang members was easy because, for example, Crips would be wearing blue or Bloods would be wearing red, Alaniz said.Back in the day, if a Crip wore red he or she would be involved in a fight, but gang members no longer adopt that type of behavior, Hall said.“It’s not like it used to be anymore, where clothing was such a huge thing,” Groppi said.Now, it is not uncommon to see a gang member wearing skinny jeans, compared to the baggy and low-hanging pants gang members previously wore, Hall said.“Gang members have now, I would say, a more open mind as far as accepting different lifestyles and fashion subcultures,” Hall said.TERRITORY BORDERS ERASEDJust as colors were affiliated with specific gangs, cities were split into territories that were associated with a specific gang.The territories caused common turf wars during the peak of gang violence in Fort Worth, Groppi said.“At one point the west side was into it with everyone,” Chappell said.The territory wars contributed to the common drive-by shootings in the 1980s and 1990s, Groppi said.But today’s money-centric gang lifestyle has displaced the territory system and battles.Territories and making money don’t mix, Alaniz said.“You’re not going to get a pension for being a gangster,” Chappell said. “You’re not going to get a Social Security check. You’re not getting no kick back. Nobody’s going to help you when you become disabled. These things we understood and we accepted.”Now, current gang members don’t accept the financial realities of the traditional gang lifestyle and have adapted, Alaniz said.Gangs are now transient, retired police officer Luther Perry said.“Territories are bad for business,” Alaniz said.Selling drugs isn’t the same as it used to be, Chappell said. “Everyone and their momma sells drugs now.”Making money means working in teams. “It’s common to see gang members from different gangs driving with each other, hanging out with each other and it seems like a lot of the rivalries have been put aside in furtherance of making money,” Alaniz said.Part of making money is blending in, Alaniz said.“They realize, ‘I could make money doing this, but I can’t bring attention to myself,’” Groppi said.The loss of the color and tradition makes gang membership less obvious to an untrained eye than it was 20 years ago, Alaniz said.Before, gangs’ graffiti tags and writings on walls were in plain sight. Graffiti was used as a way to tell what sort of gang activity was happening in the area, but that has also changed, Hall said.“It went from walls on the street to Facebook walls,” Hall said.The color of a handkerchief or bandana is no longer a clear indicator of what gang an individual is affiliated with. Las Vegas Trail no longer divides gang territories.As making money and drug sales have become the focus of Fort Worth gangs, Alaniz said, “They have adapted.” Tori Knox ReddIt Linkedin Murder Worth no more? Fort Worth set to elect first new mayor in 10 years Saturday ReddIt Previous articleThousands of people march through downtown Fort Worth for human rightsNext articleWomen’s basketball lands Oregon transfer Jayde Woods Tori Knox RELATED ARTICLESMORE FROM AUTHOR Twitter National Night Out increases community safety Tori Knox read more

Response to Vietnamese newspaper’s criticism of 2013 Netizen Prize

first_img VietnamAsia – Pacific RSF_en April 7, 2021 Find out more Help by sharing this information April 27, 2021 Find out more In an article published online on 14 March, the Vietnamese daily Nhan Dan criticized the fact that the 2013 Reporters Without Borders Netizen Prize was awarded to the Vietnamese citizen-journalist and blogger Huynh Ngoc Chenh. Like his compatriots Ta Phong Tan and Nguyen Hoang Vi, Chenh was singled out for his defence of freedom of the media and information in Vietnam and for the courage he showed in using his website for the free and constructive expression of diverse opinions about political and social issues in his country.This is Reporters Without Borders’ response to the various criticisms and comments expressed in the Nhan Dan article:We are surprised by the contradictory position that the article takes on the very idea of international organizations awarding prizes. It talks of “national pride” in connection with certain international awards but describes those that do not meet with its approval as “political interference.”This comment reflects what seems to be Nhan Dan’s leading concern. According to the article, “the country’s image” is more important than the positive effect of blogs that win international awards, the information they help to provide to the Vietnamese people, their presentation of a political vision different from the party’s, and a public democratic debate online, which would not have existed if all the space for expression and information had been left to the country’s only permitted political party.When they write about Vietnam’s political and social problems (which the Nhan Dan article does not try to deny), Chenh, Tan and Vi are not sullying Vietnam’s image. On the contrary, they are improving it and, above all, they are offering the hope that a society that is democratic, informed and free of arbitrary censorship and control of ideas may one day emerge in Vietnam.There is no need to respond to far-fetched theories about an international coalition of media, NGOs and governments seeking at all costs to “sabotage the Vietnamese authorities.” But we would like to reiterate our vision of freedom of expression and information, two fundamental freedoms covered by the Universal Declaration of Human Rights.These two freedoms include the right to criticize any political entity, the right to provide information about, and comment on, any event or situation, and the right to cover sensitive subjects such as bauxite mining, territorial disputes between Vietnam and China, and the actions the Vietnamese government takes on these issues.In countries where media freedom is more or less respected, the media constantly criticize the authorities, make fun of them or turn them into objects of satire without being accused of trying to destabilize the country or overthrow, the government. This is even the case when they publish erroneous information about senior officials.Those who legitimately try to use these rights in Vietnam risk being jailed for years. We deplore the criminalization of their activities and, in particular, the almost systematic use of article 88 of the criminal code against those who try to provide their fellow citizens with independent news and information.By awarding the 2013 Netizen Prize to Chenh, we are also paying tribute to the courage of the 31 bloggers and citizen-journalists currently in prison and we are sending the message that freedom of information is much more important than any artificial “image of Vietnam” that the current authorities try to promote.In the long run, it is defence of this freedom that will contribute most to improving international respect for Vietnam. In the meantime, is there any hope that Nhan Dan will be allowed to publish this response?Read the French translation of the Nhan Dan article, posted online on 14 March : Three more independent reporters arrested in Vietnam to go further News Receive email alerts Organisation Follow the news on Vietnam News March 22, 2013 – Updated on January 20, 2016 Response to Vietnamese newspaper’s criticism of 2013 Netizen Prize News Related documents French translation of the Nhan Dan articlePDF – 110.05 KB News April 22, 2021 Find out more Vietnam sentences journalist Tran Thi Tuyet Dieu to eight years in prison RSF laureates support jailed Vietnamese journalist Pham Doan Trang VietnamAsia – Pacific last_img read more

Justice minister urged to conclude judicial proceedings that have kept Basque daily closed since 2003

first_img RSF and 60 other organisations call for an EU anti-SLAPP directive Receive email alerts Use the Digital Services Act to make democracy prevail over platform interests, RSF tells EU RSF_en News December 2, 2020 Find out more News Reporters Without Borders calls on the justice minister to conclude the judicial proceedings against the Basque-language newspaper Egunkaria that have resulted in its remaining closed for the past five years because of its alleged illegal links with the Basque armed separatist group ETA.The newspaper was shut down at the Spanish high court‚s behest on 20 February 2003, the same day that civil guards arrested 13 journalists and members of its board on suspicion of “the crime of belonging to or collaborating with the terrorist organisation ETA”.On the grounds that the group that owns the newspaper Egunkaria S.A. and Egunkaria Sortzen S.L. pursued the same goals as ETA and helped it by creating front companies, judge Juan del Olmo ordered preventive measures consisting of freezing its assets, suspending its activities and closing its premises. And he has renewed the measures every six months since 21 July 2003.”The alleged links between certain members of Egunkaria’s staff and ETA have never been demonstrated, despite five years of judicial investigation”, Reporters Without Borders said. “The Spanish government’s fight against terrorism is legitimate but it must be done without violating free expression. We point out that Basque journalists are themselves been the victims of an ETA campaign of terror against the media and some of them have been forced to work with bodyguards or to leave the Basque country”.The press freedom organisation added: “We reiterate our concern about Egunkaria’s closure, as it deprives readers of their right to news and information, and we urge justice minister Mariano Fernandez Beremejo to allow the newspaper to reopen and to get the judicial authorities to conduct a trial very soon so that they can finally reach a decision on the substance of the charges”.There are two aspects to Judge Del Olmo‚s investigation. The main one is Egunkaria‚s alleged links to ETA. The other one is alleged tax fraud.The 13 people charged in the case are Egunkaria S.A. chairman Joan Mari Torrealdai, Egunkaria S.A. chief executive Iñaki Uria, board of governors secretary Txema Auzmendi, Egunkaria managing editor Martxelo Otamendi, former Egunkaria managing editor Pello Zubiria, former Egunkaria editor Xabier Oleaga, Batasuna party activist Xabier Alegria, Egunkaria S.A. board member Joxe Mari Sors, and four office employees ˆ Ainhoa Albisu, Mikel Sorozabal, Begoña Zubelzu and Fernando Furundarena.Each of them faces combined sentences of 30 to 40 years in prison and fine of more than 30 million euros.They are charged with creating an “illegal association” and some of them are also charged with “belonging to a terrorist organisation”. They all deny all of the charges and appealed on 29 December 2004 to the second chamber of the Spanish high court. It has not yet issued a ruling on their appeal.In a report at the end of last year, a committee of international jurists said the disproportionate nature of the newspaper‚s closure and the arrests of the 13 journalists and employees constituted a violation of articles 10 and 15 of the European Convention on Human Rights. The committee also said article 129.9 permitting the closure of companies, the one used to close Egunkaria, was not applicable to media companies.Prosecutor Miguel Angel Carballo said in December 2006 that there was insufficient evidence to support the charges against the 13 suspects.Stressing their commitment to free expression, 70 Spanish parliamentarians urged Prime Minister José Luis Rodriguez Zapatero’s government to drop the case against Egunkaria on 20 October 2005.Following Egunkaria’s closure in February 2003, funds raised by means of an appeal led to the creation of another Basque-language daily called Berria in June 2003. It is edited by Martxelo Otamendi and has a circulation of 20,000. SpainEurope – Central Asia April 3, 2008 – Updated on January 20, 2016 Justice minister urged to conclude judicial proceedings that have kept Basque daily closed since 2003 Newscenter_img to go further June 2, 2021 Find out more Help by sharing this information Organisation Two Spanish journalists killed in eastern Burkina Faso April 27, 2021 Find out more SpainEurope – Central Asia News Follow the news on Spainlast_img read more