Mines closed as Cyclone Yasi tears into NE Australia

first_imgWednesday 2 February 2011 8:28 pm whatsapp CYCLONE Yasi slammed into the north east coast of Australia last night, hitting the city of Cairns at about midnight, causing mass devastation and the closure of coal mines and a huge copper refinery in the area.Copper prices jumped to a record high of nearly $10,000 (£6,171) a tonne yesterday, fuelled by tight supplies and optimism over growing demand. Any further disruptions to supply would add pressure to the price, although Harry Colvin of Longview Economics warned against hysteria.“Australia only accounts for around five per cent of the copper supply,” he said. “Sentiment is really high at the moment, so price fluctuations are mainly just the ebb and flow caused by demand and risk appetite.”However, the storm saw BHP Billiton close two of its coalmines in the area with an annual capacity of more than six million tonnes.Australia has already seen its coal and food industries hammered by severe floods this year, and its sugar crop is likely to be the biggest casualty from the cyclone.Queensland accounts for almost all raw sugar shipments from Australia, the world’s third-largest exporter.“Certainly what happens in Australia will affect prices in the global market,” a sugar dealer in Bangkok said. Queensland’s Canegrowers estimated yesterday that industry losses could exceed A$500m (£311.5m), including possible cyclone damage to infrastructure. The category five cyclone, which could be the most powerful tropical storms to hit the coast since records began, has brought 185 mile-per-hour winds and a tidal surge of up to seven metres. whatsapp KCS-content Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ Share Mines closed as Cyclone Yasi tears into NE Australia last_img read more

Norway’s NBO attacks TV ad ban plans

first_img News that the Norwegian government has moved to finally close the loophole allowing offshore operators to advertise in the country has been greeted with dismay by the trade association representing these companies, Norsk Bransjeforening for Onlinespill (NBO).However, NBO Secretary General Carl Fredrik Stenstrøm added, while it was disappointing, it was not surprising. He argued in favour of a shift to a more liberal regulator model as opposed to attempting to maintain a monopoly for gambling.“[It is] disappointing that the authorities do not recognise the development we see in other countries where a license model has been implemented – where accountability is at the centre,”  Stenstrøm said.It was announced late in February that the Norwegian government is to table amendments to the Broadcasting Act. This will allow the Norwegian Media Authority to order Norwegian TV distributors and internet providers to prevent marketing by offshore operators.Currently the Broadcasting Act’s jurisdiction only extends to TV stations in Norway, rather than those broadcasting into the country from other countries. For years unlicensed operators have used this to promote their products in the country, despite state-owned Norsk Tipping and Norsk Rikstoto being the country’s only licensed operators.Stenstrøm said rather than attempting to crack down on offshore activity, Norway should instead work towards developing a new regulatory model to regulate private operators.He pointed out that today only Norway and Finland maintained monopolies over gambling in the European Union.“If you are able to defend a monopoly, it is on the grounds of consumer protection,” he said. “According to [Norwegian regulator] Lotteri-og stiftelsestilsynet, there are 250,000 Norwegians using my members’ services outside Norway. We know there are more – but let’s say 250,000.“It [would] be much better to give these players good tools to be able to regulate their gambling through [a self-exclusion system].“In Sweden, 48,000 have already used this service after 12 months, a success for those who want to limit their gambling and a success for public health,” he said.However, a report by Olso Economics on behalf of the Norwegian Sports Federation and addiction treatment body ExtraStiftelsen Health and Rehabilitation warned against opening up the market to private operators.Published in August last year, the report claimed that this move could see players shift from the state-operated, low-risk lottery products to higher risk verticals such as online casino. Furthermore, it said, as activity moved from the state-owned sites to private operators, there could be a significant reduction in funding for good causes.NBO current counts Betsson, Kindred Group, Cherry’s ComeOn and Gaming Innovation Group as members. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 9th March 2020 | By contenteditor Email Address Norway’s NBO attacks TV ad ban plans Legal & compliance Subscribe to the iGaming newsletter Tags: Mobile Online Gambling News that the Norwegian government has moved to finally close the loophole allowing offshore operators to advertise in the country has been greeted with dismay by the trade association representing these companies, Norsk Bransjeforening for Onlinespill (NBO). Regions: Europe Nordics Norway Topics: Legal & compliance Marketing & affiliateslast_img read more