18/08/2011--LONDON--His Sovereign Majesty King Adam I has arrived in London for a ten day tour of the capital of the United Kingdom and Edinburgh, Scotland, during which he will meet with members of the Royal Family and government officials. His Sovereign Majesty will be having conversations with senior members of the Kemetian Royal Family on their role in government and charitable organizations, as well as with the Prime Minister Jolyon Lloyd-Davies of the Liberal Party, covering subjects ranging from the current financial crisis to the support of Scottish independence.
Today, the King will be travelling to Oxford to visit the Ashmolean Museum and the "Heracles to Alexander the Great" exhibit on the treasures from the ancient capital of Macedon, which has been organised by the Prime Minister of Greece and the Greek Government. King Adam I is looking forward to inspecting the objects of this ancient civilization and is interested in how they may inform the Kemetian civilization in its goals and ideals.
Thursday, August 18, 2011
Monday, August 08, 2011
Economic Downturn Hits the Kingdom
08/08/2011--FIRST CITY--Stock markets around the world fell today as the effects of Standard & Poor's downgrade of the United States was truly felt. In Kemetia, government assets invested in international markets took a severe hit, damaging the government's portfolio and financial strength.
Shares held in numerous institutions by the Government caused an overall loss of 32.72% of government resources, completely wiping out gains made earlier this year. Such a fall is estimated to amount to upwards of 1800 Db in losses, a large amount not expected to be made up any time soon, according to economic analysts.
Kemetia has managed to remain relatively unscathed by the financial crisis, due to the Kingdom's lack of a stock market and the government's choice to hold most of its assets in cash rather than equities. The Foreign Market Portfolio, officially held by the Privy Purse, has come to serve as a source for some government income, although it is not a major generator of wealth. It is unclear whether the Portfolio will remain a viable avenue for meeting expenditure given the current economic climate.
The government has so far not commented on the situation, and the absence of Finance Minister creates an awkward situation for the Lloyd-Davies Administration in this time of financial peril. His Sovereign Majesty's office told the Tribune that it was looking into the possibility of liquidating the Portfolio and moving into a more solid investment, such as gold or silver.
Shares held in numerous institutions by the Government caused an overall loss of 32.72% of government resources, completely wiping out gains made earlier this year. Such a fall is estimated to amount to upwards of 1800 Db in losses, a large amount not expected to be made up any time soon, according to economic analysts.
Kemetia has managed to remain relatively unscathed by the financial crisis, due to the Kingdom's lack of a stock market and the government's choice to hold most of its assets in cash rather than equities. The Foreign Market Portfolio, officially held by the Privy Purse, has come to serve as a source for some government income, although it is not a major generator of wealth. It is unclear whether the Portfolio will remain a viable avenue for meeting expenditure given the current economic climate.
The government has so far not commented on the situation, and the absence of Finance Minister creates an awkward situation for the Lloyd-Davies Administration in this time of financial peril. His Sovereign Majesty's office told the Tribune that it was looking into the possibility of liquidating the Portfolio and moving into a more solid investment, such as gold or silver.
Thursday, August 04, 2011
Letters Exchanged with Croatia
01/08/2011--FIRST CITY--Letters between the Governments of Kemetia and Croatia were exchanged today, with a view to further exploring relations between the two nations in regards to local government and democracy. Prime Minister Jadranka Kosor acknowledged receipt of the government's message, in which its commitment to local governance, democracy and cooperation was outlined in detail, as well as the possibility for partnerships between the countries in the future.
The Prime Minister of Croatia also notified the Government that she had forwarded the letter to the Croatian Minister of Foreign Affairs and European Integration Gordan Jandrokovic, for further consideration.
The Prime Minister of Croatia also notified the Government that she had forwarded the letter to the Croatian Minister of Foreign Affairs and European Integration Gordan Jandrokovic, for further consideration.
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