SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates AE, ENLC, SKGR, EVGR on Behalf of ShareholdersThe lush river valleys of El Zaino y La Arenosa in western Panama, home to hundreds of families that eke out a living farming, fishing and raising cattle, could soon be submerged by a massive man-made reservoir designed to ensure the viability of the Panama Canal in the face of a changing climate. Tres Hermanas, with its farms, two schools, churches and a medical clinic, is one of dozens of towns that would disappear in the next six years if the state-owned Panama Canal's ambitious $1.6 billion project goes ahead. Residents are divided: some do not want to leave, while others are focused on getting fair compensation if they are forced to move. If they are not satisfied, recent history suggests public opposition could endanger the entire project. While the Rio Indio dam project was first proposed two decades ago, more extreme weather in the last decade, including a severe drought in the past year that restricted vessel traffic on the canal, has lent greater urgency to the proposal. The canal accounts for 3.1% of the Central American country's gross domestic product. The waterway, which allows up to 14,000 ships to cross per year, accounts for 2.5% of global seaborne trade and is critical to U.S. imports of autos and commercial goods by container ships from Asia, and for U.S exports of commodities, including liquefied natural gas (LNG). "The Rio Indio reservoir project would be the most complete solution (to more frequent droughts) in a 50-year horizon," the canal's deputy administrator, Ilya Espino de Marotta, told Reuters in an interview in October. The project still needs to pass a long approval process including a public consultation, discussion by the cabinet and the National Assembly's final green light. Panama's President Jose Mulino has said the discussion will be completed next year, but the shipping industry is watching with some trepidation after delays and suspensions of major projects in recent years, including a controversial mining contract with Canada's First Quantum Minerals. After broad public opposition, the Supreme Court last year declared the contract unconstitutional, and the government ordered the mine to be closed. Although the number of people facing relocation for the dam is relatively small, they are backed by an activist group called Countrymen Coordinator for Life, which was instrumental in blocking First Quantum's mining contract. Cesar Petit, senior economist at BancTrust & Co, an investment bank specializing in emerging markets, said there was political consensus in Panama behind the dam project but the government would need to establish a credible plan for compensating people who will be displaced and affected in nearby areas. "There are significant risks that the project to build the multipurpose reservoir on the Rio Indio will be postponed or suspended indefinitely," Petit told Reuters. "The communication strategy of the benefits of the plans and an adequate incentive and compensation program for those affected will be key to successfully implementing this plan." Jose Icaza, minister for Canal Affairs, told Reuters the government understands the "anxiety and concerns" of residents. "Our priority is not to impact the living conditions and the peace of the basin's residents, and for this reason we will continue to work directly with them to meet their needs as we move forward with the construction project," he said. The Panama Canal Authority aims to create a massive dam 840 meters in length and 80.5 meters in height to secure freshwater for its locks. It says the reservoir's 1.25 billion cubic meters of water would allow up to 15 additional vessel transits per day during the dry season, and help provide drinking water to Panama's growing 4.5 million population. Unlike the Suez Canal, which does not have locks, the Panama Canal relies on fresh water to operate three sets of locks that allow ships to cross between the Pacific and Atlantic oceans through a 50-mile artificial waterway. If it wins approval, the dam is expected to be completed by 2030 or 2031, but the clock is ticking: Last year was the third driest in the waterway's 110-year history. The second driest was 2015. Meteorologists forecast Panama will face more severe droughts and faster water evaporation due to higher temperatures in the future. A Supreme Court ruling in July returned to the canal authority a geographic area that almost doubles its territory. It can now be used to expand business and secure water sources, including the dam. According to an initial survey by the canal, the project would demand the relocation of some 2,260 people, and would impact at least partially an additional 2,000 people in the reservoir zone. A census to count more accurately how many people will be affected is expected to be completed in January, Espino said, while some infrastructure work by Panama's government, including a bridge that could accommodate heavy equipment, is visible in the Tres Hermanas area. Panama's ministry of Public Works said in a release the bridge is intended to be used for cars and people to cross the Rio Indio. "There is already a start," Espino said, referring to planning linked to the project's technical aspects. "But of course, the most complicated part is the process of resettling people. These are conversations that have to be held individually with each family." STAY OR GO? Three lawyers and activists from community groups said the Rio Indio plan would have a "high environmental impact" due to deforestation and loss of biodiversity in regions including Capira, west of Panama City. The project, which includes a $400 million budget for its social component, mainly relocations, has divided residents. Some are willing to sell their land and move, while others want to fight the project. "No farmer wants to live in a slum," said Dilubino Agraje, who represents the Rio Indio communities at Countrymen Coordinator for Life. The organization is pressing for more details about the relocation plans. "We were born and raised here. If we leave, it is not because we want to, but because we'll have to," said 60-year-old Paulino Alabarca, a rice farmer born in Tres Hermanas, while riding through the town on his horse. A different plan to transfer water from an existing reservoir fed by the Bayano river that could be finished sooner and would not require family relocations was analyzed and discarded by the canal's administration years ago because of location and higher costs, Espino said. From an environmental damage point of view, the Rio Indio project could have a greater negative impact and few positive benefits that could not be obtained otherwise, said Professor LeRoy Poff, an expert on aquatic ecology from Colorado State University, referring to displacement of people and livelihoods, damages downstream for the fish and for the forests. "There is a real importance, as we go forward amid climate change, in maintaining healthy rivers, because they have the greatest potential to respond to changing environments," he added. The Bayano alternative is gaining traction among many communities, including Tres Hermanas. "There are means for them to leave us alone," said Alabarca referring to that project. But it could bring different complications as it would involve negotiations with power provider AES Panama, a company jointly owned by the state and U.S. AES Corp that owns and operates the Bayano hydroelectric infrastructure, according to lawyers studying that project. AES Panama "is not currently in any process of selling its stakes," it told Reuters in an email. "However, fully understanding the issue and its importance for the country, it is in the best disposition and open to talk to the state to evaluate and reach fair agreements." Canal minister Icaza said the Rio Indio project was imperative for the canal's survival and "the most viable option." Espino said she thinks both projects will be needed in the long run. "Climate change has really ruined the natural navigation channels that existed," she said. The recurrence of the El Niño weather phenomenon has accelerated to every three years, extending Panama's dry season and exhausting much of the water resources in the country with the fifth most rainfall in the world. Its next occurrence, expected in 2027, will be a challenge for the canal again since the Rio Indio project is not expected to be ready before 2030, the canal's chief, Ricaurte Vasquez, told Reuters. In preparation for the next drought, the canal has changed its reservation model, is calling on shippers to consolidate cargoes and is preparing water recycling measures. In recent years, the expansion of housing near the waterway has intensified the canal's competition with its surrounding communities for freshwater, said Panama City-based environmentalist Raisa Banfield. "The canal exists and the canal must operate as efficiently as possible," Banfield said. But, she added, there needs to be a balance. "The question is... How much are we going to sacrifice to continue passing ships, and more ships and bigger ships?"Video: Mumbai man climbs onto taxi, alleges hit-and-run
Ruling on Monday after an emergency hearing at Belfast High Court, judge Mr Justice McAlinden rejected loyalist activist Jamie Bryson’s application for leave for a full judicial review hearing against Northern Ireland Secretary Hilary Benn. The judge said Mr Bryson, who represented himself as a personal litigant, had “very ably argued” his case with “perseverance and cogency”, and had raised some issues of law that caused him “some concern”. However, he found against him on the three grounds of challenge against Mr Benn. Mr Bryson had initially asked the court to grant interim relief in his challenge to prevent Tuesday’s democratic consent motion being heard in the Assembly, pending the hearing of a full judicial review. However, he abandoned that element of his leave application during proceedings on Monday, after the judge made clear he would be “very reluctant” to do anything that would be “trespassing into the realms” of a democratically elected Assembly. Mr Bryson had challenged Mr Benn’s move to initiate the democratic consent process that is required under the UK and EU’s Windsor Framework deal to extend the trading arrangements that apply to Northern Ireland. The previously stated voting intentions of the main parties suggest that Stormont MLAs will vote to continue the measures for another four years when they convene to debate the motion on Tuesday. After the ruling, Mr Bryson told the court he intended to appeal to the Court of Appeal. Any hearing was not expected to come later on Monday. In applying for leave, the activist’s argument was founded on three key grounds. The first was the assertion that Mr Benn failed to make sufficient efforts to ensure Stormont’s leaders undertook a public consultation exercise in Northern Ireland before the consent vote. The second was that the Secretary of State allegedly failed to demonstrate he had paid special regard to protecting Northern Ireland’s place in the UK customs territory in triggering the vote. The third ground centred on law changes introduced by the previous UK government earlier this year, as part of its Safeguarding the Union deal to restore powersharing at Stormont. He claimed that if the amendments achieved their purpose, namely, to safeguard Northern Ireland’s place within the United Kingdom, then it would be unlawful to renew and extend post-Brexit trading arrangements that have created economic barriers between the region and the rest of the UK. In 2023, the UK Supreme Court unanimously ruled that the trading arrangements for Northern Ireland are lawful. The appellants in the case argued that legislation passed at Westminster to give effect to the Brexit Withdrawal Agreement conflicted with the 1800 Acts of Union that formed the United Kingdom, particularly article six of that statute guaranteeing unfettered trade within the UK. The Supreme Court found that while article six of the Acts of Union has been “modified” by the arrangements, that was done with the express will of a sovereign parliament, and so therefore was lawful. Mr Bryson contended that amendments made to the Withdrawal Agreement earlier this year, as part of the Safeguarding the Union measures proposed by the Government to convince the DUP to return to powersharing, purport to reassert and reinforce Northern Ireland’s constitutional status in light of the Supreme Court judgment. He told the court that it was “quite clear” there was “inconsistency” between the different legal provisions. “That inconsistency has to be resolved – there is an arguable case,” he told the judge. However, Dr Tony McGleenan KC, representing the Government, described Mr Bryson’s argument as “hopeless” and “not even arguable”. He said all three limbs of the case had “no prospect of success and serve no utility”. He added: “This is a political argument masquerading as a point of constitutional law and the court should see that for what it is.” After rising to consider the arguments, Justice McAlinden delivered his ruling shortly after 7pm. The judge dismissed the application on the first ground around the lack consultation, noting that such an exercise was not a “mandatory” obligation on Mr Benn. On the second ground, he said there were “very clear” indications that the Secretary of State had paid special regard to the customs territory issues. On the final ground, Justice McAlinden found there was no inconsistency with the recent legislative amendments and the position stated in the Supreme Court judgment. “I don’t think any such inconsistency exists,” he said. He said the amendments were simply a “restatement” of the position as set out by the Supreme Court judgment, and only served to confirm that replacing the Northern Ireland Protocol with the Windsor Framework had not changed the constitutional fact that Article Six of the Acts of Union had been lawfully “modified” by post-Brexit trading arrangements. “It does no more than that,” he said. The framework, and its predecessor the NI Protocol, require checks and customs paperwork on goods moving from Great Britain into Northern Ireland. Under the arrangements, which were designed to ensure no hardening of the Irish land border post-Brexit, Northern Ireland continues to follow many EU trade and customs rules. This has proved highly controversial, with unionists arguing the system threatens Northern Ireland’s place in the United Kingdom. Advocates of the arrangements say they help insulate the region from negative economic consequences of Brexit. A dispute over the so-called Irish Sea border led to the collapse of the Northern Ireland Assembly in 2022, when the DUP withdrew then-first minister Paul Givan from the coalition executive. The impasse lasted two years and ended in January when the Government published its Safeguarding the Union measures. Under the terms of the framework, a Stormont vote must be held on articles five to 10 of the Windsor Framework, which underpin the EU trade laws in force in Northern Ireland, before they expire. The vote must take place before December 17. Based on the numbers in the Assembly, MLAs are expected to back the continuation of the measures for another four years, even though unionists are likely to oppose the move. DUP leader Gavin Robinson has already made clear his party will be voting against continuing the operation of the Windsor Framework. Unlike other votes on contentious issues at Stormont, the motion does not require cross-community support to pass. If it is voted through with a simple majority, the arrangements are extended for four years. In that event, the Government is obliged to hold an independent review of how the framework is working. If it wins cross-community support, which is a majority of unionists and a majority of nationalists, then it is extended for eight years. The chances of it securing such cross-community backing are highly unlikely.Are the Chiefs lucky or that good?
Dr. Oz agrees to stop promoting health and wellness products if confirmed: TransitionNicole Velez weighed 244 pounds at her heaviest in November 2023. The 31-year-old who works in a members' lounge at a Florida airport struggled with self-confidence. A 60-minute outpatient procedure helped her lose over 100 pounds because it curbed her appetite. Advertisement This as-told-to essay is based on a conversation with Nicole Velez, 31, from Tampa. It has been edited for length and clarity. My job is welcoming members to Delta Airlines' Sky Club lounge. Advertisement "Are you new here?" customers often ask. "No," I'll reply. "I've checked you in many times before." They can't believe that I'm the same person I was 11 months ago. It's because I've lost 109 pounds after a non-surgical procedure. My portion sizes are about a quarter of what they used to be. I feel full after eating much smaller amounts. My new figure has given me a lot of confidence and a new lease on life. Advertisement I tried every diet in existence My weight has been up and down my whole life. I started dieting at 9. It was triggered by an unkind comment from a boy while I was rollerblading up and down a hill. "Wow, you're fat and you can rollerblade?" he said. I went home and looked in the mirror. In my mind, I saw a large person staring back at me. I regretted raiding the fridge for pizza and eating sugary cereal with sweet, condensed milk. But I couldn't stop myself as an emotional eater. As I got older, I realized I could get through a 4,000 calorie meal and remain hungry. Over the years, I tried every diet under the sun. In my 20s, I lost 60 pounds but regained it within months with an extra 20 pounds on top. Advertisement I suffered aches and pains, despite my young age. My back hurt. Everything hurt. I had to slide out of bed because I was too heavy to pull myself up. Then, last year, at 244 pounds — far too heavy for my 5ft 6in frame — I was diagnosed with pre-diabetes . It was a shock. "I either have to change my ways, or this disease will kill me," I thought. I looked for solutions on the internet. I chance upon the non-surgical procedure Bariendo , which cost me $11,000. It was approved by the FDA in 2022. Advertisement The weight came off quickly Bariendo is an hour-long endoscopic that shrinks the stomach by 70%, causing a reduced capacity to take in food. The experts told me it alters gut hormone signaling, leading to reduced appetite and increased feelings of fullness. Related stories I took one day off work and followed a clear liquid diet . I lost exactly 45 pounds in 45 days. Then I graduated to protein shakes and regular food, including raw, vegan meals. I make sure to drink at least a gallon of water a day. The weight came off quickly. I now weigh 135 pounds. I went from a size 18 to a size 0 and had to buy a new wardrobe. Best of all, my bloodwork showed I was no longer pre-diabetic. Advertisement My confidence is much better. I have a good social life. I can swim and rollerblade again. I'm happier than I've ever been since that boy's thoughtless comment in 1991. Do you have an interesting story to share with Business Insider about weight loss? Please contact this reporter at jridley@businessinsider.com .