What We Are Reading Today: Britain’s Orchids

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Updated 07 December 2021
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What We Are Reading Today: Britain’s Orchids

Authors: Sean Cole & Mike Waller

Covering all 51 native species and 12 of uncertain origin, as well as hybrids and variants, Britain’s Orchids is an engaging, intuitive and in-depth identification guide to all the orchids of Britain and Ireland at all stages of development, from first emergence to setting seed.

Drawing on the authors’ extensive field experience and the latest scientific research, the book uses multiple techniques to help both beginner and more advanced orchid enthusiasts to identify even the most difficult plants. It is beautifully illustrated with watercolor paintings by talented artist Sarah Stribbling, and features more than 1,200 evocative, instructive and detailed photographs.


Rebuilding bombed Gaza homes may take 80 years, UN says

Updated 6 min 35 sec ago
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Rebuilding bombed Gaza homes may take 80 years, UN says

  • In a best-case scenario in which construction materials are delivered five times as fast as in the last crisis in 2021, re-construction could be done by 2040
  • Palestinian data shows that around 80,000 homes have been destroyed

GENEVA: Rebuilding homes in the Gaza Strip could drag into the next century if the pace follows the trend of previous conflicts, according to a UN report released on Thursday.
Nearly seven months of Israeli bombardment have caused billions of dollars in damage, leaving many of the crowded strip’s high-rise concrete buildings reduced to heaps, with a UN official referring to a “moonscape” of destruction.
Palestinian data shows that around 80,000 homes have been destroyed in a conflict triggered by Hamas fighters’ deadly attacks on southern Israel on Oct. 7. Israeli strikes have killed tens of thousands of Palestinians.
The assessment, released by the UN Development Programme, said Gaza needs “approximately 80 years to restore all the fully destroyed housing units.”
However, in a best-case scenario in which construction materials are delivered five times as fast as in the last crisis in 2021, it could be done by 2040, the report said.
The UNDP assessment makes a series of projections on the war’s socioeconomic impact based on the duration of the current conflict, projecting decades of ongoing suffering.
“Unprecedented levels of human losses, capital destruction, and the steep rise in poverty in such a short period of time will precipitate a serious development crisis that jeopardizes the future of generations to come,” said UNDP Administrator Achim Steiner in a statement.
In a scenario where the war lasts nine months, poverty is set to increase from 38.8 percent of Gaza’s population at the end of 2023 to 60.7 percent, dragging a large portion of the middle class below the poverty line, the report said.


Doubts grow over Gaza truce plan

Updated 13 min 21 sec ago
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Doubts grow over Gaza truce plan

  • Israel still waiting for Hamas’s response to the latest proposal

GAZA: Doubts grew on Thursday over the fate of a Gaza truce plan that, as the week began, had raised hopes of an end to nearly seven months of war between Israel and Palestinian Hamas militants.
Israel was still waiting for Hamas’s response to the latest proposal, said an Israeli official not authorized to speak publicly.
Mediators have proposed a deal that would halt fighting for 40 days and exchange Israeli hostages for potentially thousands of Palestinian prisoners, according to details released earlier by Britain.
Any such deal would be the first since a one-week truce in November saw 80 Israeli hostages exchanged for 240 Palestinian prisoners.
The war started with Hamas’s October 7 attack on southern Israel that resulted in the deaths of 1,170 people, mostly civilians, according to an AFP tally based on Israeli official figures.
Israel estimates that 129 captives seized by militants during their attack remain in Gaza, but the military says 34 of them are dead.
Israel’s retaliatory offensive, vowing to destroy Hamas, has killed at least 34,596 people in Gaza — mostly women and children — including 28 over the past day, according to the health ministry in the Hamas-run territory.
Much of Gaza has been reduced to a grey landscape of rubble. The debris includes unexploded ordnance that leads to “more than 10 explosions every week,” with more deaths and loss of limbs, Gaza’s Civil Defense agency said on Thursday.
Hampered aid
Humanitarians are struggling to get aid to Gaza’s 2.4 million people, hundreds of thousands of whom have fled to Rafah, the territory’s southernmost point, the United Nations says.
Senior Hamas official Osama Hamdan told AFP late Wednesday that the movement’s position on the truce proposal was “negative” for the time being.
The group’s aim remains an “end to this war,” senior Hamas official Suhail Al-Hindi said — a goal at odds with the stated position of Israel’s Prime Minister Benjamin Netanyahu.
Regardless of whether a truce is reached, Netanyahu vows to send Israeli troops into Rafah against Hamas fighters there. US officials reiterated their opposition to such an operation without a plan to protect the civilians.
US Secretary of State Antony Blinken has urged the Islamist movement to accept the truce plan.
“Hamas needs to say yes and needs to get this done,” Blinken said Wednesday while in Israel on his latest Middle East mission.
In early April there had also been initial optimism over a possible truce deal, only to have Israel and Hamas later accuse each other of undermining negotiations.
Following a meeting with Blinken, Israel’s opposition leader Yair Lapid insisted that Netanyahu “doesn’t have any political excuse not to move to a deal for the release of the hostages.”
Netanyahu faces regular protests in Israel calling on him to make a deal that would bring home the captives. On Thursday protesters set up over-sized photos of women hostages outside Netanyahu’s Jerusalem residence. In Tel Aviv they again blocked a highway.
Israel protests
Demonstrators accuse the prime minister, who is on trial for corruption charges he denies, of seeking to prolong the war.
Fallout from the Gaza fighting has spread throughout the Middle East, including to the Red Sea region where commercial shipping has been disrupted.
US and allied warships have regularly shot down suspected drones and missiles fired by Iran-backed Yemeni rebels who say they act in solidarity with Palestinians.
Criticism of the war has intensified in the United States, Israel’s top military supplier.
Demonstrations have spread to at least 30 US universities, where protesters have often erected tent encampments to oppose Gaza’s ever-increasing death toll.
Talks on a potential deal to pause the bloodiest-ever Gaza war have been held in Cairo involving US, Egyptian and Qatari mediators.
Mairav Zonszein, senior analyst at the International Crisis Group think-tank, said he was pessimistic Hamas would agree to a deal “that doesn’t have a permanent ceasefire baked into it.”
A source with knowledge of the negotiations said on Wednesday that Qatari mediators expected a response from Hamas in one or two days.
The source said Israel’s proposal contained “real concessions” including a period of “sustainable calm” following an initial pause in fighting, and the hostage-prisoner exchange.
The source said Israel’s withdrawal from Gaza remained a likely point of contention.
Egypt’s mediation
Egypt was involved in a flurry of calls “with all the parties,” the country’s state-linked Al-Qahera News reported, citing a high-level Egyptian official who spoke of “positive progress.”
Martin Griffiths, the UN aid chief, this week said “improvements in bringing more aid into Gaza” cannot be used “to prepare for or justify a full-blown military assault on Rafah.”
The US military since last week has been building a temporary pier off Gaza to assist aid efforts. The pier is now more than half finished, the Pentagon said on Wednesday.
In Khan Yunis city near Rafah, foreign aid and borrowed equipment helped to “almost completely” restore the emergency department at Nasser Medical Complex, said Atef Al-Hout, the hospital director.
Intense fighting raged in mid-February around the hospital, which Israeli tanks and armored vehicles later surrounded.
Israel’s army on Thursday said that among strikes over the previous day, a fighter jet hit “a military structure in central Gaza.”
Witnesses and an AFP correspondent on Thursday reported air strikes in Khan Yunis and artillery bombardment in the Rafah area, while militants and Israeli troops battles in Gaza City to the north.
Also in north Gaza, workers unloaded boxes of aid at Kamal Adwan hospital where Alaa Al-Nadi’s son lay motionless in the intensive care unit, his head almost completely swathed in bandages.
Nadi, her own arm bandaged after they were wounded in a strike, feared the hospital’s power could go out, cutting the boy’s oxygen and killing him.
“I call on the world to transfer my son for treatment abroad. He is in a very bad condition,” she said, breaking down in tears.


The continuous rise in value of the Indian Premier League

Updated 19 min 11 sec ago
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The continuous rise in value of the Indian Premier League

In the aftermath of the Punjab Kings’ record chase of 262 runs on April 26, team captain Sam Curran, remarked that the Indian Premier League “(is) becoming a bit like baseball, isn’t it?”

This was likely a moment that opponents of the IPL had predicted and feared — and, conversely, one that proponents of the IPL and T20 cricket in general relished.

T20 cricket is in line with the age of fast food. Instantly consumable, quickly forgotten and underpinned by mass advertising and high-profile personalities. Around the world, its sponsors include KFC for Australia’s Big Bash League, the very title encapsulating the format’s frenzy.

In England, the Hundred has a five-year deal with KP Snacks. Given governmental policy to reduce consumption of products that are high in fat, salt and sugar, the partnership has drawn criticism.

Meanwhile, in South Africa, SA20’s title sponsor is Betway, one of a growing number of betting companies associated with cricket. In the IPL, there is a myriad of sponsors. The title one, Tata, is paying $300 million between 2024 and 2028. Then there are three associate partners — My11Circle, Angel One and RUPay — plus an official broadcaster in Star Sports, official digital streaming partner JioCinema, official strategic timeout partner CEAT and an umpire partner in Paytm.

Each franchise team has a plethora of principal partners, associate partners, media partners and merchandise partners. These represent a broad range of different industry sectors which boost the brand value of the franchises. According to brand valuation consultancy Brand Finance, the value of the ten franchises at the end of the 2023 season ranged from $43.7 million to $87 million. The estimated brand value of the IPL was $10.7 billion.

Estimates of brand value are derived differently by different bodies. This is because brands are not tangible assets — they are subject to beliefs, perceived reputation, trust and experience. Their value lies in how consumers associate with the brand and how it influences their behavior. Attempts to quantify these factors require measurable elements such as trademarks, logos, taglines, visual assets, digital assets, customer retention and social media engagement levels.

Since it began 17 years ago, the IPL has generated all of these in abundance. Along with experience and engagement within the stadiums, an exponential growth in viewership reached close to 500 million unique viewers in 2023. The new media rights regime in 2024 has created further growth, with the Disney Star Network acquiring broadcast rights for all IPL matches in 2024. Live broadcast of the first 18 attracted over 400 million viewers, a 17 percent like-for-like increase over 2023. 

There is a big shift in live streaming, with Viacom’s JioCinema awarded digital streaming rights in the 2024-27 cycle. In 2023 it streamed the entire IPL season for free on its mobile app and website, a feature continued into 2024. The move took many by surprise but enabled it to set a record for the highest concurrent viewership for a live-streamed event — some 32 million viewers tuned in to watch the final. Now, digital streaming appears to be gaining momentum over traditional TV broadcasting with IPL viewers, depending on market segment. This can only increase as technology advances and accessibility improves.

As a result, brand value estimates after the 2024 edition are likely to be affected. Close inspection of existing estimates reveals the different methodologies in use. Cost-based valuations focus on how much it has taken to build the brand. Market-based valuations take account of how much sales of similar brands have raised. Income-based valuations focus on how much money the brand brings into the organization compared with non-branded similar products for services. Customer-based valuations analyze existing customers and predict future consumption patterns.

Another approach is the relief from royalty method, used by global investment bank Houlihan Lokey. This calculates value based on hypothetical royalty payments that would be saved by owning an asset rather than licensing it. In 2023, this produced a brand value estimate for the IPL of $3.2 billion — a difference of some $10.7 billion compared with other estimates. The methodology also produces different estimates of the franchise brand values. In this case, they are in a higher range of $83 million to $212 million, with a slightly different ranking.

Houlihan Lokey also undertook a valuation of the IPL’s value as a business, based on the standard discounted cash flow technique. This amounted to $15.4 billion in 2023, an increase of 80 percent over 2022. Most of this can be attributed to the renewal of the media rights deal covering 2023-2027, worth three times more than the 2017-2022 cycle. It is reasonable to assume that, given the year-on-year increases in viewership, the IPL will be able to command even more enhanced terms in the next cycle.

Intuitively, this makes the use of DCF techniques understandable. Under normal circumstances, the IPL can be reasonably sure of its future revenue streams. Once they are expressed in terms of present values, investors can assess what rate of return they are likely to achieve. Ultimately, returns on investment and profits are more important to stakeholders than differences in brand valuations, although the franchisees remain committed to brand enhancement through fan engagement, association with star players and top sponsors. 

Since 2008, the IPL has established itself as a global phenomenon and it has done so in a relatively short time. It attracts millions of fans and viewers, providing instant entertainment. All the signs are that it will continue to grow through increased sponsorship, viewer numbers and media rights income which, in turn, proliferates advertising revenue for the media. This is big business and looks unstoppable, but it may morph into a caricature of the game from which it took its roots.


Comedian Stephen Colbert defends pro-Palestine college campus demonstrators after Trump attack

Updated 20 min 1 sec ago
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Comedian Stephen Colbert defends pro-Palestine college campus demonstrators after Trump attack

  • Comedian said protests should be allowed to continue as long as they are peaceful
  • Trump claimed 2017 white nationalist rally in Charlottesville was ‘nothing’ in comparison to pro-Palestine college protests

LONDON: American comedian Stephen Colbert has defended pro-Palestinian college campus demonstrators, countering recent criticism from former President Donald Trump.

Last week, Trump likened the student rallies to the 2017 white nationalist rally in Charlottesville, Virginia, claiming the latter was “nothing” in comparison.

On his “Late Show” segment, Colbert expressed solidarity with the protestors who are urging their institutions to cut ties with companies profiting from the conflict in Gaza.

The host said that peaceful protests “should be allowed,” rebuking Trump for “downplaying one of the darkest chapters in American history.”

He added: “Now even if you don’t agree with the subject of their protests, as long as they are peaceful, students should be allowed to protest. It’s their First Amendment right.”

The former “The Colbert Report” star criticized the response of both university officials and law enforcement to recent events at Columbia University, denouncing the use of heavily armed police and threats to call in the National Guard as a “classic de-escalation tactic.”

Trump, however, praised law enforcement’s handling of the situation, commending New York City’s police force.

Colbert’s remarks coincided with the deployment of riot police at Columbia University’s Hamilton Hall, resulting in the arrest of numerous pro-Palestinian students who had occupied the building.

The raids drew condemnation from advocacy groups such as Jewish Voice for Peace and UN Special Rapporteur Francesca Albanese. New York City’s mayor reported the arrest of 282 students.

Subsequent clashes between pro-Palestinian groups, counter-protestors, and law enforcement erupted at other campuses across the US.

Meanwhile, Brown University in Rhode Island reached an agreement with protesters on Tuesday, marking what appears to be the first time a US college has agreed to vote on divestment in response to the protests.


Saudi Arabia open to financing up to 75% of certain industrial projects, says minister

Updated 25 min 45 sec ago
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Saudi Arabia open to financing up to 75% of certain industrial projects, says minister

RIYADH: Saudi Arabia is open to providing up to 75 percent of financing for certain industrial projects, a minister has revealed in a bid to incentivize foreign investment and private sector players.

During his discussion with several Qatari investors on the sidelines of the 52nd meeting of the Gulf Cooperation Council Industrial Cooperation Committee in Doha, Bandar Alkhorayef, the Kingdom’s minister of industry and mineral resources, highlighted the vast opportunities that Saudi Arabia’s untapped mining potential provides to global investors. 

According to a release on X, he reaffirmed that in addition to the incentives provided by the industrial and mineral wealth system and the multiple sources of financing, the prepared infrastructure in more than 36 industrial cities around the Kingdom offers a sum of qualitative capabilities such as the production of prefabricated factories and long-term rentals.