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Australia backs $2.9 bln urea plant with low-cost finance

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Australia backs .9 bln urea plant with low-cost finance

MELBOURNE, Sept 30 (Reuters) – The Australian authorities has agreed to supply a low-cost mortgage of A$220 million ($143 million) to privately owned Perdaman to construct a A$4.5 billion urea plant in Western Australia, the nation’s sources minister mentioned on Friday.

Perdaman plans to construct a 2-million-tonnes-a-year urea plant, aiming to export about half the output to the Asia-Pacific area, Brazil and america, whereas the remainder will assist minimize Australia’s dependence on fertiliser imports, the federal government mentioned.

The federal government mortgage will come from the Northern Australia Infrastructure Facility and provides to A$255 million in two earlier loans backing infrastructure to service the urea challenge.

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“This challenge will probably be transformational for Western Australia … and safe native farmers’ entry to fertiliser that’s important to making sure meals safety,” Minister for Sources and Northern Australia Madeleine King mentioned in an announcement saying the mortgage.

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Perdaman has lined up a contract to purchase fuel from Woodside Power Group’s (WDS.AX) Scarborough challenge as feedstock for the urea manufacturing.

The challenge is being constructed on the Burrup Peninsula, the place an indigenous group has raised issues in regards to the impression emissions from the plant might have on historical indigenous rock artwork.

Surroundings Minister Tanya Plibersek in August rejected a request from two indigenous girls to dam Perdaman from beginning building on the urea plant, nonetheless earlier this month she launched a overview of the impression of trade on the traditional rock artwork on the Burrup Peninsula.

That overview should provide you with suggestions on whether or not to order new safety for indigenous heritage on the peninsula. There is no such thing as a deadline for that overview.

King mentioned on Friday Perdaman’s challenge has been designed utilizing the “greatest obtainable expertise to minimise emissions” together with utilizing solar energy.

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($1 = 1.5399 Australian {dollars})

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Reporting by Sonali Paul; Modifying by Christian Schmollinger

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Mayer Brown Hires Structured-Finance Pro From White & Case – Law360

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Mayer Brown Hires Structured-Finance Pro From White & Case – Law360

By Ashish Sareen ( January 2, 2025, 6:10 PM GMT) — Mayer Brown LLP announced on Thursday that it had hired a senior structured-finance lawyer from White & Case LLP in London to add to its strengths representing clients in the private capital market….

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Would an artificial-intelligence bubble be so bad?

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Would an artificial-intelligence bubble be so bad?

A little over a decade ago Seth Klarman, a hedge-fund titan, worried that an asset-price bubble was emerging. He identified Tesla as one of the firms best exemplifying exuberance in the market. At the time, Elon Musk’s electric-vehicle company was worth around $30bn. Today its stockmarket value is $1.3trn.

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Shamsud Din Jabbar’s tragic decline: $120k job, debt, failed marriages and radicalization behind New Orleans attack | World News – Times of India

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Shamsud Din Jabbar’s tragic decline: 0k job, debt, failed marriages and radicalization behind New Orleans attack | World News – Times of India
Despite his relatively high-paying position, Jabbar’s life was marked by financial turmoil that escalated during his second divorce in 2022.

Shamsud Din Jabbar, the 42-year-old behind the deadly New Year’s Eve attack in New Orleans, had a stable job as an employee at the prominent accounting firm Deloitte, reportedly earning an annual salary of $120,000. However, despite his relatively high-paying position, Jabbar’s life was marked by financial turmoil that escalated during his second divorce in 2022.
A high-earning professional struggling with debt
New York Post reports reveal that Jabbar, who had a background in IT and military service, was deeply in debt. In emails to his ex-wife’s lawyer, Jabbar admitted to owing over $27,000 in overdue home payments and stated he was at risk of foreclosure. Furthermore, he confessed to racking up more than $16,000 in credit card debt while paying court fees and expenses for a second home. His real estate business, which he had hoped would provide a financial lifeline, had suffered a staggering loss of more than $28,000 the previous year.

A fall from stability to squalor
Jabbar’s personal life took a dramatic turn after his second divorce. He had been married twice and had faced ongoing financial struggles, including child support disputes with his first wife, who sued him in 2012. Despite his job at Deloitte and his military service, Jabbar’s financial issues pushed him to a breaking point.

In the years following his military service, Jabbar’s situation deteriorated, and he found himself living in a dilapidated trailer park in Houston, Texas. The once-promising professional now lived in squalor, surrounded by sheep and goats in his yard. His neighbors, many of whom were Muslim immigrants, knew little about him, with one describing Jabbar as a “simple person” who kept to himself, reported the Post.
From military service to terror
Jabbar’s journey from a decorated military veteran to a terrorist suspect is as complex as it is tragic. He served in the US Army for over a decade, deploying to Afghanistan, where he worked as an IT specialist. He left the Army in 2015 as a staff sergeant after serving both active duty and as a reservist. Despite the stability of his military career, Jabbar struggled with personal and financial issues that seemed to worsen over time.

In a 2020 YouTube video promoting his real estate business, Jabbar portrayed himself as a dependable and trustworthy Texan. However, in the months leading up to the New Orleans attack, he reportedly became more isolated and radicalized. The FBI revealed that Jabbar had made references to the Quran and was reportedly influenced by ISIS ideology, a connection underscored by an ISIS flag found on the truck he used during the attack.

A deadly attack on New Year’s eve
On New Year’s Day, Jabbar carried out a premeditated terror attack, driving a rented Ford F-150 truck into a crowd on Bourbon Street, killing 15 people. Following the attack, he exchanged gunfire with police officers and was killed during the confrontation. Authorities confirmed that Jabbar had an ISIS flag on his vehicle, and law enforcement is continuing to investigate potential accomplices.
Jabbar’s financial struggles, marital issues, and apparent radicalization have painted a picture of a man who spiraled from a successful career and military service to a life of financial ruin and violent extremism.

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