Tuesday, May 5, 2015
Non-professional handling of LNG
There is no doubt about the benefits of the usage of LNG by diesel-based power plants, industry, fertilisers and the transport sector.
However, the handling of its import and supply-chain mechanism by the government, its various agencies and companies, has been far from professional.
The government deserves the credit for arranging a port terminal to transfer the imported LNG into the domestic natural gas system within the committed schedule, but it has so far failed to finalise its buyers, payment mechanism and the LNG purchase arrangement.
Various ministries and their subsidiaries were found wanting in putting in place supply-chain arrangements and legal agreements while the LNG terminal was being constructed for almost a year
Even the operating license to the terminal operator and the terminal completion certificate have yet to be issued by the Oil and Gas Regulatory Authority (Ogra) and the Port Qasim Authority respectively, despite the arrival of two LNG shipments through the floating storage and regasification unit (FSRU). And the LNG has subsequently been sold without any legal cover.
The ministries of finance, water and power, ports and shipping and petroleum and natural resources and their subsidiaries were found wanting in putting in place supply-chain arrangements and legal agreements while the LNG terminal was being constructed for almost a year. They started the consultations when the terminal was nearing completion.
They then started the process of finding quick-fix solutions to a very serious business, knowing well that previous attempts to import LNG had failed over the last 10 years owing to procedural weaknesses that resulted in at least $10bn in losses to the nation.
Meanwhile, the government has accepted a suggestion from Ogra’s executive director litigation that “instead of amending the Ogra Ordinance to bypass the requirement of a public hearing, LNG should be defined as a petroleum product so that its price could be set by Ogra under a formula”.
The ECC has approved Ogra’s request, amending the Petroleum Products (Petroleum Levy) Ordinance 1951 (PL ordinance) to declare regassified LNG (RLNG) as a petroleum product. Its price can now be fixed on a monthly basis, just like petrol and diesel.
Likewise, the Schedule II of the ordinance can also be amended to include Sui Northern and Sui Southern gas companies as oil companies.
Based on the same argument, natural gas could also be defined as a petroleum product and its consumer prices could also be set without a public hearing. This seems to be in contrast with international definitions and practices and existing laws in the country.
Section 7 of the PL ordinance empowers the federal government to make amendments and modifications in the schedules as it thinks fit. A petroleum product has been defined as any petroleum product specified in the first schedule.
Plain reading of the schedule says the law’s framers had restricted the powers of the government to add only petroleum products having nomenclature defined in the schedule. The government has not been empowered to declare any product as a petroleum product. It has to meet the requirements of the nomenclature as laid down in the schedule and the international market.
Petroleum products are primarily produced by refining crude oil and in some cases by processing natural gas. But none of the products produced by processing crude oil can be re-converted to crude oil by any known process.
Natural gas is primarily methane, and LNG is also mainly methane liquefied under pressure and at low temperatures. If Ogra can be asked to notify LNG prices in exercise of powers conferred by Section 6(2) (r) of the Ogra Ordinance 2002, then it can also be asked to notify consumer prices of natural gas by adding the words ‘natural gas’ in the schedule.
This will take care of all the problems that the SSGC and the SNGPL have been facing for the last three years in meeting the regulatory requirements of the Companies Ordinance and being able to pass on the cost of high un-accounted for gas to consumers. Nowhere in the world is LNG or natural gas called a petroleum product.
Meanwhile, the Pakistan State Oil is still without a licence to import or market LNG or RLNG. Being an oil marketing company, its first two imports would need to be separately given some legal cover by amending sections 22 and 23 of the Ogra law, which requires a company to have a license before transmitting, distributing or selling natural gas or operate any LNG facility.
It also seems that a new form of regulatory capture is being put in place when Ogra is without a quorum and its executive directors are willing to upgrade themselves as members.
Published in Dawn, Economic & Business, May 4th, 2015
Never Mind Oil, Iran’s About to Shake the World Pistachio Market
Oil? Possibly, but there’s a second industry that could be even more disrupted by a nuclear pact between Iran and the west: pistachio nuts.
Iran has far more clout in the market for cocktail nibbles than it does in crude trading. While it ranks only as the world’s seventh-largest oil producer, the Middle Eastern country vies with the U.S. to be the biggest pistachio grower.
As with oil, Iranian sales of pistachios to the U.S. and Europe have been hampered by sanctions. As the talks between Washington and Tehran to resolve the decade-long nuclear dispute head toward the June 30 deadline for a final agreement, traders are predicting lower prices.
“The new supply will have an impact,” said Hakan Bahceci, chief executive officer of Hakan Agro DMCC, a grain, nuts and pulses trading house based in Dubai.
The biggest losers may be Californian farmers who have doubled pistachio acreage over the past ten years despite drought conditions. Pistachio production in California started in earnest in 1979 and output hit 513 million pounds last year, more than triple the harvest in 2004, according to the U.S. Administrative Committee for Pistachios.
Nut Lovers
For nut lovers, more supply would be good news: prices have risen 40 percent over the last five years due to supply shortages.
Yet, so far, the California pistachio industry is unconcerned. Bob Klein, manager of the Fresno-based Administrative Committee for Pistachios, said Iran would struggle to sell into Europe and the U.S. because of high levels of contamination from aflatoxin, a toxic chemical caused by fungus.
“I am not hearing a great deal of concern within the industry about the return of Iran,” he said in an interview. Even if prices decline a bit, farmers will still thrive in California.
“Prices had been good. Pistachios are among the most profitable perennial crops” in the U.S., he said.
The U.S. pistachio crop was worth about $1.3 billion last year. For Iran, the crop is worth more or less the same, but has more importance for the country because it’s the second-largest export of the country, behind crude oil.
Hostage Crisis
The U.S. has banned Iranian pistachios intermittently over the last three decades. The first embargo dates from 1979 following the takeover of the U.S. embassy in Tehran and the hostage crisis. The ban was lifted four years later, but re-introduced in 1987 during the Iran-Iraq war before it was lifted again in 2000.
Ten years later, President Barack Obama approved legislation that effectively blocked imports of Iranian pistachios into the U.S. again.
“Currently, you cannot import into the U.S. Iranian-origin pistachios,” said Erich Ferrari, whose Washington-based firm Ferrari & Associates has lobbied the U.S. government on behalf of commodities traders on Iran.
Other Western sanctions, designed to stop oil and gas trading, are also limiting Iran’s ability to sell pistachios in Europe because of restrictions on banking and shipping, traders said. China, India and Turkey remain big buyers, and some Iranian pistachios are finding their way into the European market from Turkey.
Southport Lane Acquires Dallas National Insurance Co.
Southport Lane, a New York-based private equity firm, completed its previously announced acquisition of Dallas National Insurance Co., a Texas-based property and casualty insurer specializing in general liability and workers’ compensation.
Under the terms of the transaction, Southport Lane will make a $50 million investment in Dallas National, raising its capital and surplus to $107.5 million, and will acquire 100 percent voting control through an investment subsidiary.
The acquisition has been approved by both the Texas Department of Insurance and the Delaware Department of Insurance. The company’s core operations will remain in Texas.
Southport Lane was advised by Sutherland Asbill & Brennan LLP. The seller was represented by Gardere Wynne Sewell LLP.
Terms of the deal were not disclosed.
Source: Southport Lane
State Regulation Worked in Red Rock/Foster Jennings Case: Oklahoma Commissioner
The circumstances surrounding the liquidation of a small Oklahoma insurer highlight the concern over how effectively state insurance regulators are able assess potential buyers of insurance companies, according to a recent report in the Wall Street Journal. But Oklahoma’s insurance commissioner says he disagrees with that assertion.
Tying the collapse of Red Rock Insurance Co. indirectly to the failed insurance holdings of a young Wall Street financier, the authors of “Bogus Stamps, Phony Bonds Backed Failed Insurer,” published on April 20, state: “The unusual circumstances behind the Red Rock liquidation, together with the Burns case, reinforce concerns about the ability of state regulators to screen out unsuitable buyers of insurance companies.”
Oklahoma Insurance Commissioner John D. Doak said, however, that the Oklahoma Insurance Department’s policies and procedures worked as they were supposed to in the Red Rock case.
“State based regulation of insurance provides an orderly and effective procedure, consistent with due process, to screen out unsuitable buyers of insurance companies,” he said.
In the WSJ article, authors Mark Maremont and Leslie Scism acknowledge that Alexander Chatfield Burns and his failed private equity firm/insurance empire, Southport Lane Management LLC, had no direct involvement with Red Rock Insurance, which is in liquidation in Oklahoma.
But Maremont and Scism wrote that two executives — Andrew B. Scherr and Scott W. Hartman — who through their financial services holding company, Foster Jennings Inc., bought the entity that became Red Rock did have business ties to Burns.
Scherr “now runs the remnants of Mr. Burns’s former firm, in which he was an executive and minority partner,” and Hartman “was involved in a financing arrangement that Foster Jennings had with Mr. Burns’s company, which ended in 2012,” the WSJ article stated.
Scherr and Hartman’s purchase in 2013 of the bankrupt Oklahoma insurer, BancInsure, which was later re-named Red Rock Insurance, was based on the representation that they would invest some $30 million in capital into the company.
Oklahoma Commissioner John Doak
BancInsure, which insured community banks, was already in serious trouble when Foster Jennings bought it. Due to the collapse of so many small banks during the economic downturn, the company suffered big losses that depleted its surplus and was in danger of being taken over by regulators at the time of the acquisition.
“An Application for Receivership had already been filed in state court against BancInsure/Red Rock at the time Foster Jennings made an offer to purchase it,” Commissioner Doak wrote in an email to Insurance Journal. “The Department viewed the proposed acquisition as an opportunity to avoid placing the company in receivership. The Department followed the statutory procedure for approval of insurance company acquisitions in compliance with NAIC and Oklahoma standards.
“Following a public hearing, the acquisition was conditionally approved based on submitted documents and testimony under oath. A key condition to approval was the infusion of approximately $30 million dollars in liquid assets by Foster Jennings,” he said.
Foster Jennings paid $1 for BancInsure, renamed the company Red Rock Insurance Co. and changed the insurer’s focus into more general property/casualty lines.
The company reported in an October 2013 announcement that its “new strategy will involve writing business in the program distribution segment of the industry, where managing general agents and program administrators focus on insurance for specific types or classes of businesses, from commercial auto fleets and real estate agents to marinas and wind turbines.”
It didn’t exactly turn out that way. “Subsequent to the conditional approval, the Department continued to use its regulatory authority to ensure that the conditions were satisfied and the company’s assets were not depleted. On several occasions, Foster Jennings delivered evidence of ‘capital infusion,’ which the Department deemed unacceptable,” according to Commissioner Doak.
Scherr and Hartman, as Foster Jennings, “represented that they were bringing $30 million in marketable assets,” said Nestor Romero, assistant receiver for the Red Rock liquidation.
Foster Jennings said the assets were marketable securities, but because the insurance department wasn’t sure how to value them it brought in the Securities Valuation Office of the NAIC for a valuation, Romero said. The SVO couldn’t determine a value either.
Then the buyers said they had invested in another fund, which was made up of treasuries. That investment turned out to be something other than U.S. treasuries and was unsuitable from the department’s point of view, Romero said.
The WSJ article stated that some of the assets Foster Jennings tried to present to regulators involved “bonds linked to an admitted counterfeiter and a supposed $40 million stamp collection that couldn’t be authenticated.”
Red Rock ultimately realized only $5 million out of the projected $30 million.
“There was a continuing pattern of them placing assets before the department and [those assets being found] not to be representative of $30 million,” Romero said.
After several failed attempts to satisfy the insurance department’s capital requirements, a formal determination was made that the company was in hazardous financial condition. The department “imposed supervision and ultimately filed for and obtained an order of receivership and liquidation,” Doak wrote.
In December 2013, the department selected Red Rock to provide liability coverage — an Oklahoma Temporary Motorist Liability Policy — for Oklahoma drivers whose license plates were seized for failure to carry state-mandated auto insurance.
There were some policies sold under that program and a few inland marine policies sold, but otherwise “there was very, very little business” transacted at Red Rock, Romero said.
“I would have to look at the exact figures but it was very little money,” he said.
The company admitted it was insolvent in its amended first quarter 2014 financial statement and the OID moved to take Red Rock into conservatorship, saying it fit the definitions of “impairment” and “insolvency.”
Red Rock was ordered into liquidation in August 2014.
BancInsure Claims
The claims being paid today through state guaranty funds involve losses stemming from BancInsure, Romero said. “I could look at all the loss reserves but I could imagine that at the very least, probably 99.9 percent of the losses relate back to BancInsure business, not Red Rock,” he said.
The WSJ article quoted Patricia McCoy, who teaches insurance law at Boston College, as advising that capital provided by new owners of insurance companies should be placed in escrow and examined before an acquisition is completed.
Romero said the suggestion is probably a good one. Moving forward, a best practice would be to put these assets in escrow, get them valued completely and then close off the transaction, he said.
“You do have to have that valuation, not just representation but valuation, prior to the consummation of the transaction,” he said.
Commissioner Doak indicated that the department doesn’t intend to change its current policies and procedures. “No policyholders were adversely affected by the conditional approval,” he said.
Whether or not Scherr and Hartman will be subject to any penalties due to the misrepresentation of assets is “under review by the receivership,” Doak said.
Dallas National, Imperial Fire & Casualty
The WSJ has run several articles recently that question state regulators’ ability to monitor insurance company transactions funded by hedge funds and private equity.
A March 20 article, “Young Financier’s Insurance Empire Collapses,” detailed the collapse of the Burns/Southport Lane insurance empire, which included two failed insurance companies — Texas-based Dallas National and Louisiana-headquartered Imperial Fire & Casualty.
Burns had no previous insurance experience when he was approved to acquire Dallas National, a workers’ compensation insurer, and Imperial Fire & Casualty, which wrote personal lines.
Dallas National (which Southport transferred to Delaware and renamed Freestone) is now in liquidation in Delaware; Imperial was seized and sold by Louisiana regulators.
A Texas Department of Insurance spokesman told Insurance Journal that “Dallas National reported satisfactory financial results prior to 2011 and maintained adequate policyholder surplus. In 2011, Dallas National reported material reserve development which resulted in a net loss for the year. However, TDI did not have any major solvency concerns at the time of re-domestication.”
TDI also said of the Southport Lane/ Dallas National transaction that “TDI followed its normal processes for the review and approval of acquisitions of control.”
The WSJ quoted Louisiana Insurance Commissioner Jim Donelon as saying his agency “let its guard down” in 2013 in approving Southport’s purchase of Imperial
UN envoy heads to France, Saudi Arabia to revive Yemen talks
United Nations: The UN envoy for Yemen, Ismail Ould Cheikh Ahmed, will travel to Paris later Tuesday on his way to Riyadh to try to re-launch peace talks, UN officials and diplomats said.
It will be the Mauritanian diplomat´s first trip to the region since he took up the post as peace envoy for Yemen less than two weeks ago.
The envoy replaced Jamal Benomar, who resigned after losing support from Gulf states when Yemen´s Shiite Huthi rebels pushed ahead with an offensive.
Talks collapsed after the Huthis seized the capital Sanaa and advanced on Aden, forcing President Abedrabbo Mansour Hadi to flee into exile to Saudi Arabia.
Ould Cheikh Ahmed will hold talks in Paris on Wednesday and travel to Saudi Arabia the following day, diplomats told AFP.
But a visit to Yemen has yet to be scheduled, UN officials said. The envoy discussed his challenging mission with US officials in Washington on Friday, just as US Secretary of State John Kerry was preparing for a trip to Saudi Arabia.
International concern is growing over the civilian death toll from the Saudi-led air campaign that has also severely crippled deliveries of fuel, food and medicine.
A coalition led by Saudi Arabia launched the air war on March 26 to prevent the Huthi rebels from taking the entire territory and to restore Hadi´s authority.
Hadi has proposed holding talks between his country´s rival political forces in the Saudi capital on May 17, Qatar´s foreign minister said.
UN efforts to resume peace negotiations for Yemen have run into hurdles over disagreements on the venue for the talks, with Gulf countries insisting they be held in Riyadh.
Iran and other countries have said they could be held in neutral territory, and some have suggested Geneva as the venue.
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Clinton draws contrasts with Republicans on immigration
WASHINGTON : Democratic presidential frontrunner Hillary Clinton called Tuesday for a plan to regulate some of the 11 million illegal immigrants in the United States, striking a direct contrast to her Republican adversaries.
The former secretary of state and ex-first lady has long backed an overhaul of the US immigration system, especially for youths raised in the United States who dream of coming out of the shadows.
"We can´t wait any longer for a path to full and equal citizenship," Clinton told a roundtable at a Las Vegas high school in some of her most expansive comments on what looks set to be a major talking point in the 2016 race to the White House.
"This is where I differ with everybody on the Republican side. "Make no mistake, today not a single Republican candidate announced or potential is clearly and consistently supporting a path to citizenship, not one.
"When they talk about legal status, that is code for second-class status." About 27 percent of the population of Nevada, the state home to Las Vegas, is Hispanic.
Some of the participants in the discussion were undocumented immigrants, people who were only provided temporary visas or whose parents are undocumented.
The hot-button immigration issue is currently stalled in Congress. Both Democrats and Republicans agree that the large undocumented immigrant population and breaks in the visa quota system make immigration reform crucial.
An overhaul that would have regulated millions of immigrants passed in the then Democrat-held Senate in 2013, but it was blocked in the Republican-majority House of Representatives.
A huge influx of minors from Central America brought the issue back to the fore, with Republicans insisting no reform was possible until the border with Mexico was reinforced.
Obama used an executive order to bypass a hostile Congress and drive through measures to protect about four million undocumented foreigners from deportation in November.
But in February, just before the measures were to go into effect, a Texas judge issued an emergency injunction until a trial on their legality could be held.
Clinton said she backed Obama´s approach. "If Congress continues to refuse to act, as president I will do everything possible under the law to go even further," Clinton said.
Pakistani cueist Hamza Akbar to turn professional
KARACHI: Pakistan’s newly crowned Asian Snooker Champion Hamza Akbar is looking forward to make his mark on the professional circuit in England.
“By virtue of winning the Asian crown I have qualified for the professional circuit,” he told reporters after a reception hosted in his honour by Pakistan Billiard and Snooker Association (PBSA) here at the Karachi Club Annexe on Sunday.
He said as per the ruling he can play on the World Professional Billiards and Snooker Association (WPBSA) circuit for two years.
Akbar said he will be directly placed in the main draw and will be joining the circuit in July after event in Iran.
Hamza Akbar he was eagerly looking forward to rub shoulders with top professionals of the world. He said he had to finish among the top 64 in next two years on the WPBSA to continue playing on the professional circuit.
The 21 years old is the second Pakistani after Muhammad Yousuf to win the continental title after a lapse of 17 years.
Dazzling Hamza defeated former IBSF World Snooker Champion Pankaj Advani of India 7-6 to win the title for Pakistan at Kuala Lumpur (Malaysia).
“It was always my dream to win the title and my hard work paid dividend,” the country’s new snooker prodigy told reporters.
He thanked Almighty for achieving his objective after being 4-5 down.
“Despite being behind I played my normal game and kept reciting Holy Quran and Darood Sharif and that helped me to win the title,” he remarked.
He dedicated his victory to his whole family including his grandmother, coaches, friends and well wishers and the PBSA.
Akbar expressed the hope that Pakistan Sports authorities will provide long standing cash incentives to players for their achievements for the country including former IBSF World Champion and World Team and 6 Red Asian champion Muhammad Asif and Muhammad Sajjad.
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Amir Khan wants Mayweather fight
LAS VEGAS: Britain´s former two-time light-welterweight world champion Amir Khan has said he wants to be the next opponent for Floyd Mayweather after watching ringside as the American outpointed Manny Pacquiao in the Las Vegas superfight on Saturday.
Mayweather kept his unbeaten record with a unanimous points victory over Pacquiao in a welterweight unification showdown that failed to live up to all the pre-match hype, but fully highlighted the winner´s superb defensive skills.
Mayweather said after the fight that he would only get in the ring once more - in September - and Khan, 10 years younger at 28, believes he is ideally placed to be the American´s final opponent.
"I think the fight is there," Khan told BBC Radio Five Live´s Sportsweek programme.
"I spoke to Len Ellerbe, his manager, I saw him in the media room and he came over to say ´hi...he´s ready when you are´.
"I think Mayweather´s team are wanting the fight. But then - on the other hand - I´ve even spoken to Manny´s team and they said the same thing. (They said), ´Look Amir, I think it´d be good to have the fight between you and Manny next´.
"So, I´m in a position where I could fight either guy but I think Mayweather´s the one I want, because I really believe I have his number."
The Bolton boxer, with 30 wins and three losses to date in his career, is in action later this month in New York taking on Chris Algieri, but he hopes to get in the ring with Mayweather later this year or early in 2016.
"I think it would be an amazing fight, one that boxing fans all around are talking about because I really believe size is a big factor between me and him and the speed and the power as well. I really believe I have his number."
Early reactions to the richest fight in boxing history were mixed with Oscar de la Hoya, a former rival of both Mayweather and Pacquiao saying on Twitter: "Sorry boxing fans" and "call me old school but I like the fans getting their money´s worth by watching an action packed fight."
Former Irish champion Barry McGuigan agreed saying on his Twitter site "boringly one-sided"
Others though praised the boxing skills of Mayweather as he took his unbeaten streak to 48 wins over 19 years.
Former world heavyweight champion Mike Tyson, who had picked Pacquiao to win told Sky Sports: "It´s him. It´s who he is. It´s just his time at the moment."
Britain´s Lennox Lewis on Twitter said: "If U can´t catch it you can´t hit it #Maypac that pretty much sums up the fight."
Frank Bruno hailed Floyd Mayweather as a supreme "craftsman" of the boxing ring.
"In this generation you have to go very, very far before you can be a skilled craftsman, businessman, technician, professional and a king in knowing his craft," he told BBC Radio 5 Live´s Sportsweek programme.
"As a boxer you´ve got to admire him, he´s got to go down as one of the greats."
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Mayweather defeats Pacquiao in ‘fight of the century’
LAS VEGAS: Floyd Mayweather defeated Manny Pacquiao by unanimous decision on Saturday in their long-awaited welterweight world title showdown.
In a bout branded boxing´s latest “Fight of the Century” Mayweather took his unblemished record to 48-0 adding the Filipino great´s World Boxing Organization title to his World Boxing Association and World Boxing Council crowns.
Pacquiao fell to 57-6 with two drawn, never able to mount the kind of sustained aggressive attack he needed to earn the decision.
Even so, Pacquiao said he thought he did enough to earn the victory.
“I thought I won the fight,” he said. “He didn’t do nothing.”
In fact, Mayweather did what he does best, skillfully thwarting Pacquiao’s offense.
Although his punches didn’t come in the bunches that Pacquiao’s did, there were plenty of telling blows.
Ringside judge Dave Moretti scored the bout 118-110 for Mayweather, while judges Glenn Feldman and Bert Clements both scored it 116-112 for the American.
Chewbacca: Officially the World’s Hottest Wookie Cover Star!
May 4, (now dubbed Star Wars Day #starwarsday #maythe4thbewithyou) may be over for another year, but news, photos and gossip from the Star Wars camp are still rolling in.
We've always felt strongly that a Wookie should get a magazine cover and in the run up to the December release of The Force Awakens, Vanity Fair have led the way as their June issue cover boasts Chewbacca, Hans Solo and newcomers to the franchise Rey and Finn.
The cover photo and the on-set photos were taken by VF photographer Annie Leibovitz and have already taken the internet by storm in just the few hours they have been released. Fans of the forthcoming trilogy have been piecing together clues to establish who and what they cast are playing (see here for the latest casting news).
Lupita Nyong'o to play a CGI character?
Here's the Character Lupita Nyong'o Plays in 'Star Wars: Episode VII' + Jar Jar Binks Dead? http://t.co/em10rWn6JRpic.twitter.com/wULetozPL5
— Shadow And Act (@shadowandact) May 4, 2015
Is Adam Driver a baddie?
Do you sense a disturbance in the Force? New #StarWars photos have arrived #MayThe4thBeWithYouhttp://t.co/ucR1NoRN8S pic.twitter.com/Sb9dVurBmR
— VANITY FAIR (@VanityFair) May 4, 2015
Watch the behind-the-scenes video.
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The issue is out on Friday 8th May.
Princess Charlotte’s birth certificate released
Princess Charlotte's birth certificate has been released. The document states the Duke andDuchess of Cambridge's occupation as "Prince and Princess of the United Kingdom".
It also includes where both William and Kate were born (Paddington and Reading respectively).
The certificate includes the princess's full name - Charlotte Elizabeth Diana of Cambridge and is signed by Alison Cathcart, the Deputy Registrar of Westminster Register Office, who also registered Prince George's birth.
Today, the Queen got to meet her new, three-day-old great-grand-daughter for the first time.
The couple's "usual address" is stated as Kensington Palace, London, and the Duke signed the certificate as "William".
Kensington Palace released a statement saying: "The Duke and Duchess of Cambridge have formally registered the birth of Princess Charlotte. The Duke of Cambridge signed the birth register at Kensington Palace this afternoon witnessed by a registrar from Westminster Register Office."
Princess Charlotte's birth register document will be kept at the Westminster Registration Office.
AT 9.09AM, WE WROTE:
The Duke and Duchess of Cambridge have named the new royal princess Charlotte Elizabeth Diana, Kensington Palace has confirmed.
Her official title will be 'Her Royal Highness Princess Charlotte of Cambridge'.
Charlotte was born at 8.34am on Saturday morning and weighed 8lbs 3oz. Her name is a nod to her family on both sides - Charlotte is the feminine of William's father, Charles and it's also Pippa Middleton's middle name, while Elizabeth and Diana are obviously William's grandmother and late mother's names.
Charlotte means "free man" traditionally and was the 17th most popular girl's name last year, according to BabyCentre.
Princess Charlotte isn't the first royal with the name; England's Queen Charlotte was the wife of George III. The couple also had a daughter they named Charlotte.
But don't expect there to be a rush of Charlottes anytime soon.
"It's a lovely name but we're expecting to see fewer babies being called Charlotte in the coming months," said Sasha Miller, International Managing Editor of BabyCentre.
"Parents don't want to be labelled as having been influenced by others in their baby name choice, particularly by such a high-profile family. That was a pattern we saw very clearly after the birth of Charlotte's older brother in 2013; the name George quickly dipped in popularity in BabyCentre's naming charts. New parents who had been thinking of naming their baby Charlotte, may well now be thinking again."
SOURCE: BABYCENTRE
ON SATURDAY 2 MAY 2015, WE WROTE...
Wow! The Duchess of Cambridge gave birth at 8.34am and 10 hours later, she's carrying her newborn princess and taking her home. Yep, they'll be home in time for Britain's Got Talent. Good work!
Kate looked gorgeous as she stepped out of the Lindo Wing at St Mary's Hospital in West London wearing a yellow Jenny Packham dress.
Earlier today, Prince William arrived at the hospital with Prince George - who looked as adorable as ever.
Prince William looked incredibly excited about the arrival of he and the Duchess of Cambridge's baby daughter.
The Duke of Cambridge told the waiting paparazzi and fans that the couple were "very happy" with the new arrival before driving away in a Range Rover.
The as-yet unnamed baby girl will be fourth in line to the throne, behind her grandfather Prince Charles, who is "absolutely delighted" by the news, her father Prince William and brother Prince George.
EARLIER, WE WROTE...
Rejoice! Kate Middleton has given birth to a baby girl.
It's time to get your royal bunting out because little baby George has himself a little sister today.
The Duchess of Cambridge and her husband Prince William welcomed their second (royal) baby on 2 May 2015.
Kensington Palace revealed the news on Twitter...
An email went out to members of the media...
"Her Royal Highness The Duchess of Cambridge was safely delivered of a daughter at 8.34am.
The baby weighs 8lbs 3oz.
The Duke of Cambridge was present for the birth.
The Queen, The Duke of Edinburgh, The Prince of Wales, The Duchess of Cornwall, Prince Harry and members of both families have been informed and are delighted with the news.
Her Royal Highness and her child are both doing well."
EARLIER, WE WROTE...
Kate Middleton is in the early stages of labour and was admitted to hospital around 6am this morning. The next official announcement is likely to be that of the birth.
Prince William is by his wife's side at the private Lindo Wing of St. Mary's Hospital in West London, where he himself was born in 1982, and where the couple's son, George, was born in July 2013.
The couple's nanny Maria Borrallo, is looking after their eldest son, Prince George. The Duchess of Cambridge is thought to be over a week overdue and there is talk that she may have to be induced.
A spokesman for the couple said in a statement: "The Duchess of Cambridge has been admitted to St Mary's Hospital in the early stages of labour."
"Her Royal Highness The Duchess of Cambridge was admitted at 06.00hrs to St. Mary's Hospital, Paddington, London and is in the early stages of labour."
"The Duchess travelled by car from Kensington Palace to the Lindo Wing at St Mary's Hospital with The Duke of Cambridge."
ON 28 APRIL 2015, WE WROTE:
Prince Harry is set to miss the birth of his new niece or nephew as he flew out of London last night to return to his army job in Australia.
Kate Middleton and Prince William's second child is thought to be five days overdue and it now seems that Harry won't meet the newest member of his family until mid-May when he returns to the UK.
Harry's weekend whistle-stop tour included a visit to his brother and sister-in-law in Kensington Palace and an appearance at the London marathon on Sunday. The young prince joked that he'd like to see the couple welcome a girl.
"I can't wait to see my brother suffer more," the cheeky Prince revealed back in September when news of a second royal baby became public. "And with any luck, if it's a girl, then he'll suffer even greater. I'd love to see him try and cope with that!" he said.
Like Prince George, it seems that the second royal baby will be late.
Check back to GLAMOUR for updates on the royal baby.
ON 27 APRIL 2015, WE WROTE:
Kate Middleton and Prince William are well and truly down with the kids - the pair will be informing the world of the royal baby's arrival by sending out the news electronically. Yep, on Twitter.
#Modern.
According to reports, an email will go out to members of the media and then, "a couple of minutes later," an aide explains, the news will be announced on the palace's social media feeds, including the @KensingtonRoyal Twitter and Instagram accounts.
The information will be the sex of the baby, the time of birth and the weight.
The next piece of information will tell us when the couple and their son or daughter are leaving the hospital. And then after, once they've faced the dreaded camera, the family is expected to stay at their London home Kensington Palace for a couple of days before heading to their country residence, Anmer Hall, around 150 miles north, where they will spend much of the summer.
William is set to have two weeks' paternity leave from his new job as an air ambulance pilot, for which he re-starts training on 1 June.
As the Kate Wait rumbles on, the bookies are being inundated with bets.
A Manchester man has put £10,000 on the new royal baby being a girl - and he stands to win £15,000 if he's right.
Currently, Ladbrokes' odds are 8/15 for a girl and 11/8 for a boy.
The man, who usually bets on horse racing and football, said: "I'm not really bothered by the royals, but I'd just had a big win and my missus reckons it's a girl, so that's a good enough reason for me."
Alice is the favourite name for a new princess at 5/4 - but a poll carried out for The Sunday Times found the public's top pick to be Diana.
Other bookies' favourites are Charlotte, at 5/1 and James or Arthur if it's a boy (20/1 and 12/1).
The due date of new baby Cambridge is not known; but odds are in that it could be April 29 (the couple's fourth wedding anniversary).
ON 21 APRIL 2015, WE WROTE...
This is lovely news - Kate Middleton has someone to keep her company as she waits for baby number two to arrive. Her husband, Prince William, has started his paternity leave early after completing the first phase of his air ambulance training ahead of time, meaning he can be by his wife's side as she scolds him for putting him in this damn situation.
The Prince, who is training to become an air ambulance helicopter pilot with Bond Air Services in Norfolk, was due to remain at his and the Duchess of Cambridge's country residence, Amner Hall, in the run up to the birth of their second child.
The distance apart meant that if the Duchess went into labour while William was at work, he faced a two hour drive to London.
"The Duke of Cambridge has completed the first phase of his in-work air ambulance helicopter pilot training with Bond Air Services earlier than anticipated," a Kensington Palace spokesperson has said. "This is due to a combination of The Duke performing well in the various modules and having very good flying conditions that allowed flight training and assessment to progress more quickly than had been planned," they added.
The Duchess is currently chilling out with her feet up at Kensington Palace - which is close to St Mary's Hospital, where she is due to give birth.
ON 27 MARCH 2015, WE WROTE...
We don't know whether Prince George will be getting a brother or a sister, but we DO know that the Duchess of Cambridge is due to give birth at some point in April.
As Kate Middleton's due date nears, there are lots of people placing bets on the name, hoping to cash in.
Punters in a Kent area have caused a surge in bets on the name of the Duke and Duchess of Cambridge's baby.
Bookmaker William Hill has slashed the odds on the royal baby being called Alice from 14-1 to 4-1.
William Hill spokesman Rupert Adams said there had been a "large volume of bets" from that area.
He told Mailonline: "Alice is the new favourite and we have seen a significant number of bets. You have to think there is good reason for the gamble."
If the baby does prove to be a girl called Alice it would not be a huge break with tradition.
Since the mid 19th century a number of royal women have been called Alice, with Queen Victoria calling her second daughter Princess Alice and the wife of the late Duke of Gloucester - the Queen's uncle - having the same name.
At Ladbrokes the name Elizabeth leads the way as the 5/1 favourite for the name of choice. This royal name is followed closely by Charlotte, Alexandra and James.
The Metro combined Ladbrokes, Paddy Power and Coral's odds for their calculations, giving Elizabeth 7/2 odds, followed by James 8/1, Charlotte 9/2 and Victoria 10/1. Five names were tied with 12/1 odds: Philip, Alice, Mary, Arthur and Diana.
The site shared some unusual bets as well, like Tyrone (100/1), Macbeth (500/1), Ringo (5001/1) and Chardonnay (500/1).
Oh, please name her Chardonnay, M-Middy...
SOURCE: METRO
ON 14 NOVEMBER 2014, WE WROTE...
We're not sure who was more starstruck, Kate Middleton or Harry Styles, when they met last night - but we reckon it was probably Harry, who, rather than sticking to a traditional royal greeting, couldn't help congratulating Kate on her bump!
The Duchess of Cambridge and Prince William met the One Direction boys at the Royal Variety Performance in support of the Entertainment Artists' Benevolent Fund at the Palladium Theatre in London, and the boys admitted they were really nervous for the meeting.
"It's the most nervous I think I've ever been in my life," Liam said, while Louis admitted: "I didn't say 'ma'am. I said, 'Hi, How are you? I'm Louis.'"
Don't worry, Louis, we'd have done the same.
"I said congratulations on the bump," Harry said. "(Though) she didn't look bumpy."
We guess Kate should take that as a compliment?
The boys also became pally with Prince William, who told them he'd been "keeping a close eye" on their career. It must be nice to have a royal fan!
ON WEDNESDAY 22 OCTOBER 2014, WE WROTE...
How lovely! Kate Middleton looked gorgeous as she arrived at the Wildlife Photography of the Year awards last night.
It was a big day for the Duchess yesterday - it was her first public appearance since her pregnancy was revealed. Kate remarked that she was pleased to be "out of the house" after suffering with Hyperemisis Gravidarum, a severe form of morning sickness.
Last night she arrived at the awards, which were held at the Natural History Museum, of whichKate is a patron. She looked beautiful in a bespoke Jenny Packham pale jade crepe full-length gown, which she teamed with nude stilettos, and Monica Vinader jewellery.
On Tuesday morning her radiant smile spoke volumes about how the Duchess felt about getting back to work this week.
Kate told guests: "I've been looking forward to getting out of the house, that's for sure."
ON 20 OCTOBER 2014, WE WROTE...
Aww, some royal baby news for you! Kensington Palace has confirmed that Kate Middleton and her husband Prince William are due in April 2015, and they are "delighted".
Will Royal Baby #2 be a headstrong Aries or a stubborn Taurus? Only time will tell…
As with her first pregnancy, the Duchess has suffered from acute morning sickness and been treated by doctors at Kensington Palace. The royal household said in a statement that theKate's condition is "steadily improving."
The statement read: "Their Royal Highnesses The Duke and Duchess of Cambridge are delighted to confirm they are expecting a baby in April 2015.
"The Duchess of Cambridge continues to be affected by hyperemesis gravidarum, but her condition is steadily improving."
Now, can we have a public holiday for the occasion? Please?
ON 13 OCTOBER 2014, WE WROTE...
Kate Middleton added an exciting new role to her royal duties today, but was unable to attend its launch today because of her severe morning sickness, or hyperemesis gravidarum.
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