APTN National NewsNunavut’s legislative assembly has come up with a plan to tackle Nunavut’s suicide crisis.The assembly created a new position minister responsible for suicide prevention.That new role comes with the familiar face of Paul Okalik, the territory’s former premier.APTN spoke with Okalik about his new role.
TORONTO — Canaccord Genuity Group Inc. has struck a deal to acquire Australian financial services firm Patersons Securities Ltd. for roughly $23 million in cash.The Melbourne-based securities business has operations in wealth management and capital markets.Canaccord chief executive Dan Daviau says the addition of Patersons is part of its strategy to increase the scale of its wealth management operations and improve its business mix in Australia.The Canadian financial services firm said the transaction was conducted through its Australian operation, Canaccord Genuity Australia.The deal is subject to various conditions, including shareholder and court approval and is expected to be completed during the quarter ended Dec. 31, 2019.Cash consideration of $25 million Australian dollars or 23.55 Australian cents per share, amounting to roughly C$23 million, will be paid upon closing. The Canadian Press Companies in this story: (TSX:CF)
Following the public sittings in Mullaitivu, the commission will record statements from the public in Mannar and Vavuniya.Gunadasa said that the commission has invited 1600 people to record oral statements over a 6 day period in Mullaitivu, Mannar and Vavuniya regarding family members reported missing during the war. (Colombo Gazette) The Presidential commission to investigate into complaints regarding missing persons began fresh public sittings in the Mullaitivu District today.Secretary to the Commission Hewa Wasalage Gunadasa said that the commission will hold sittings in Mullaitivu for three days.
Better car design has helped halve UK road deaths in the last 30 years. Fatalities have fallen despite a near doubling of cars on roads. But while accident statistics show we have some of the safest roads in Europe, there were still more than 3,300 deaths in the UK last year. In the drive to make roads safer for all users, manufacturers are designing new models with an armoury of new safety features that protect more than just car drivers and their passengers. Millions of pounds are being invested in making vehicle front ends less harmful to pedestrians, if they are unfortunate enough to be hit by the car. Models like the new Suzuki Swift show how far the industry has already come. On sale from April, the Japanese supermini won a coveted three star rating for pedestrian safety in recent EuroNCAP crash tests. The result reflects its lightweight, energy-absorbing body structure built on a completely new platform, as well as much closer work with EuroNCAP to improve crashworthiness. Of course, designing safer cars is not just a question of damage limitation – far better to prevent an accident happening in the first place, particularly for those walking or cycling. Here too, the new Swift shows a strong hand. Active safety features include a host of braking technologies in the form of four-wheel ABS, electronic brake force distribution and brake assist. These sort of features are not reflected in NCAP crash tests. Nevertheless, they are helping drivers of models like the new Swift, and other road users to stay where they belong – as far apart as possible. Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)
The Ohio State baseball team celebrates its victory against Xavier March 19 at Bill Davis Stadium. OSU won, 10-3.Credit: Sam Harrington / Lantern photographerWith Big Ten play looming, the Ohio State baseball team appears to be starting to play their best ball of the season.Playing under a gray sky for most of the evening, the Buckeyes (13-6, 0-0) came out shining and rolled to their fifth-straight victory, defeating Xavier, 10-3, Wednesday.The game featured two freshman starting pitchers on the bump with the Musketeers’ (11-7, 0-0) Trent Astle going against the Buckeyes’ Tanner Tully.Tully, starting his first collegiate game, began with a commanding five-pitch first inning. Astle wasn’t so lucky.Sophomore infielder Troy Kuhn was batting first for the Buckeyes and, on the second pitch he saw, smacked a homerun over the left field wall. The shot was Kuhn’s fourth of the year, good enough to lead the team.“I’m seeing the ball real well,” Kuhn said. “I keep getting good pitches to hit … taking advantage of other teams mistakes.”With runners on second and third and still no outs, freshman outfielder Ronnie Dawson had an RBI groundout and sophomore infielder Zach Ratcliff followed with an RBI single to give the Buckeyes a quick 3-0 lead.Astle found himself in another jam to begin the second. With the bases loaded and nobody out, sophomore infielder Jacob Bosiokovic hit a sac fly to deep center that plated two. Junior outfielder Pat Porter followed with a sac fly of his own to score another and give Tully a six-run lead to work with.The freshman responded, going five innings with five hits on no runs scored. When Tully had Musketeers in scoring position, he turned up the heat to keep them at bay.“It was good just to go in there and throw strikes and keep the defense in it,” Tully said. “I throw a little bit harder, hit my spots a little bit more (with runners in scoring position) and make sure they don’t score.”Coach Greg Beals was impressed enough with Tully’s first start to say he would probably be the Sunday starter this weekend.“There was no question in my mind he was capable of starting and capable of doing what he did,” Beals said. “To put five zeros up like that, though, was sure good to see … in our meeting tomorrow there’s a pretty good chance we decide Tanner Tully is our Sunday starter this weekend.”The Musketeers scored one in the sixth and two more in eighth to give them a chance, but the offense rose to the occasion and responded with four runs of their own in the eighth.Redshirt-senior reliever Tyler Giannonatti recorded the final four outs to give him his first save of the season and keep the Buckeyes perfect at home so far.The win streak has been an enjoyable one for the Buckeyes, but they know it isn’t time to get complacent.“We’re pretty happy (with where we are), but this is where our mission starts,” Kuhn said. “We want to come out hot.”The Buckeyes are next scheduled to Friday when the Michigan State Spartans come to town. First pitch at Bill Davis Stadium is set for 6:05 p.m.
Danica Patrick was ‘sad to inform’ her fans on Tuesday, that her and husband Paul Hospenthal are divorcing after seven years of marriage.Patrick made the announcement through her Facebook page hours after posting a video to thank fans for voting her the most popular driver on NASCAR’s mid-tier Nationwide Series circuit.“I am sad to inform my fans that after seven years, Paul and I have decided (to) amicably end our marriage,” she said. “This isn’t easy for either of us, but mutually it has come to this. He has been an important person and friend in my life and that’s how we will remain moving forward.”Hospenthal, a physical therapist, met Patrick while treating her for a non-racing injury. They were married in 2005.The news comes as Patrick just finished her first full season in NASCAR, after leaving IndyCar. She ran the full Nationwide schedule and 10 Sprint Cup races.In nine Cup starts, Patrick had her best finish earlier this month, finishing 24th at Texas and running every lap for the first time. Patrick has been involved in wrecks or plagued by maintenance issues in her past races.Tony Gibson, Ryan Newman’s former crew for Stewart-Haas Racing, played a big part in Patrick’s success in her last two races ath the end of the season. He helped her to finish 10th in Nationwide points, surpassing Sara Christian’s 1949 record of finishing 13th in the Cup series. Gibson plans to become Patrick’s full-time crew chief starting next year.Patrick’s notoriety has declined since the beginning of her career in IndyCar. There was talk that her appeal had dwindled with advertisers, but Go Daddy has pledge their allegiance with Patrick. The website domain provider will continue to use her in commercials during next year’s Super Bowl. They have also committed sponsor her during the Cup schedule next season.
The weapons retrieved A number of knives were seen spilling out of the suspect’s backpack. One appeared to be a large kitchen knife and another a flick-knife. Two police forensic officers, wearing crime scene suits, combed through the evidence. They took photographs of the contents of the bag, before taking them away for further examination.Several knives and what looked like paper or tissue were all put into a separate bag or box. When it came to the brown rucksack lying on the floor, the officer opened it ‘gingerly’.It is not clear if police knew he was carrying weapons when the decision was made to stop him. What did the police have to say?Scotland Yard said:A man has been arrested in Whitehall this afternoon, at approximately 14:22, following a stop and search as part of an ongoing operation.The man was arrested in Parliament Street, junction with Parliament Square, by armed officers from the Met’s Specialist Firearms Command.The man, aged in his late twenties, was arrested on suspicion of possession of an offensive weapon and on suspicion of the commission, preparation and instigation of acts of terrorism. Knives have been recovered from him.He is being detained under the Terrorism Act and is in custody in a south London police station.Detectives from the Counter Terrorism Command are continuing their investigation, and as a result of this arrest there is no immediate known threat.Who is the suspect?The 27-year-old man, dressed head to toe in black, was walking among a crowd of tourists and workers in Parliament Street when he was wrestled to the ground by armed police officers. He has been named by the BBC as Mohammed Khalid Omar Ali. Forensic police were seen inspecting them. Credit:Heathcliff O’Malley It is understood that the suspect’s family had become concerned about his behaviour and reported him to the authorities several weeks ago. Investigators believe he was about to launch an attack. Scotland Yard said the arrest occurred as part of an “ongoing operation” by detectives from Counter-Terror Command and the investigation is still continuing.Three knives and a rucksack were seen on the ground following the arrest.Here is what we know so far.Family reportedly ‘tipped off’ policeParliament staff were told by security sources that the man’s family tipped off police, Sky News’ Chief Political Correspondent Jon Craig reported. Police pick up a knife at the scene after a person was arrested following an incident in Whitehall in LondonCredit:Lauren Hurley/PA Wire The ‘lone wolf’ suspect had been under close surveillance when counter-terrorism officers ordered his immediate detention as he came within 300 yards of the gates of the Prime Minister’s residence.It is understood that the suspect’s family had become concerned about his behaviour and reported him to the authorities several weeks ago. Investigators believe he was about to launch an attack.No one was injured during the incident but eye witnesses described a struggle between the 27-year-old and police as armed officers and plain clothes police surrounded the area at around 2.30pm.A security source told Reuters that the man, from London, was known to counter-terrorism officers and MI5 before his arrest. A suspected jihadist with carrying a rucksack packed with knives was arrested in Westminster after police were reportedly tipped off by his family.The 27-year-old man, who is believed to be called Mohammed Khalid Omar Ali, was arrested under the Terrorism Act – just yards from the scene of last month’s Westminster attack.The suspected terrorist was heading towards Downing Street when he was dramatically arrested by armed police, security sources have told The Telegraph. The source said: “He was under surveillance and he was stopped while walking away from Parliament Square and up Whitehall towards Downing Street.”A senior policing source said: “This is someone who was known and under surveillance. He was being watched very closely. He had been travelling on the London Underground and we understand he had exited the Tube at St James’s Park station before walking in the direction of Whitehall and Number 10.“At some stage an alert went out to all the teams in the area and the order was made to pick him up.” What does Theresa May have to say?Prime Minister Theresa May was on a tour of a factory in Chesterfield at the time and praised the police and security services for preventing another terrorist strike at the heart of British power. Forensic Officers looking at knifes at the scene Credit:Yui Mok/PA Wire Mrs May said: “It shows that our police and intelligence and security services are on the alert, as they always are, looking to keep us safe and secure. “We owe a huge debt of gratitude to these people, many of whom are unseen, unheard, yet the job they do day in, day out to keep us secure is a really important one and we should thank them for it.”A spokesman for London Mayor Sadiq Khan said: “Mr Khan is hugely grateful to the police for their swift, decisive and professional actions. He is hugely relieved there have been no casualties.” Staff in Parliament told by sec sources police were tipped off about man arrested in Whitehall by his family, which probably saved his life.— joncraigSKY (@joncraig) April 27, 2017 Photographs taken during and after the dramatic arrest showed a bearded man, possibly of Asian or east African origin with cropped black hair, held at the scene for at least ten minutes. In one image, he appeared to be smirking for the camera.One of his hands appeared to be wrapped up in a bandage as four officers stood next to him. A Whitehall source told The Telegraph that the man, who is understood to have been born overseas but who lives in south east London, had been arrested as part on an “intelligence-led operation”. he had been followed on the Underground and is thought to have surfaced at St James’s park tube station before heading towards Westminster. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings.
← Previous Story “New Poland” ready for handball agony? Next Story → Perfect Germany smash Austria without Gensheimer France 2017Russia handball Russia will try to join upper part of handball globe at World Championship 2017 in France with coach Torgovanov on the bench and well-known faces like Atman and Dibirov in the main roles. Obviously, Russian boys are eager to make a stronger push towards after their girls marked 2016 with amazing success in Rio, where they won gold at Olympic Games.However, there is a long way to go in Group with France, Norway, Brazil, Japan and Poland.It looks that Russia are in good form after five matches in 10 days, which they ended with the smile. “Komanda” beat Belarus twice 27:22 and 31:26, while before New Year Eve Torgovanov’s boys won Riga Council Cup.Russia wins Riga Council Cup againMen’s 19th international four-team handball tournament “Riga Council Cup 2016” was won by national team of Russia for the second consecutive year.Tournament started on the 27h of December when goalkeeper Edgars Kukša played excellent game and hosts Latvia surprisingly won Belarus (23:20) while Russia in fierce battle overtook Egypt (24:23). Day later Latvians played good 1st half (13:14), but lost to Russia (19:27). First won get Belarus who scored the winning goal in the last minute over Egypt (28:27). On the last day of tournament Egypt convincingly won Latvia (30:20), bet Russia celebrated victory over Belarus (28:21).National team of Russia finished tournament with perfect 3-0 and deservedly get the winners cup for the second consecutive year and for the third time in Riga Council Cup history (2012.. 2015., 2016.). The rest of the teams concluded the tournament with one win and two losses, but better goal difference secured 2nd place to Egypt. 3rd finished Belarus, 4th – Latvia, who played without several leaders (Aivis Jurdžs, Dainis Krištopāns, Ģirts Lilienfelds and Ingars Dude).Top-scorer of the “Riga Council Cup 2016” was Dmitry Kovalev from Russia (22 goals), but MVP trophy got Egyptian Elsam Eisaa.Best players in each teamRussia – Pavel AtmanLatvia – Edgars KukšaBelarus – Vjachaslau SaldatsenkaEgypt – Yehia ElderaaTop-scorer – Dmitry Kovalev (22 goals, Russia)MVP – Elsam Eisaa (Egypt)Results: http://bit.ly/2i6SBNU Tournament table: http://bit.ly/2iGBSRr Scorers list: http://bit.ly/2hG4nNoPhotos by Romualds Vambuts
State sell-off fund TAIPED announced yesterday that it was freezing the privatization process for the majority stake in the Thessaloniki Water Company (EYATH).According to the fund’s official statement, TAIPED will re-examine the ways in which the company can be utilized following the new conditions to have emerged as a result of a Council of State verdict regarding the Athens Water Company (EYDAP) as well as the reaction from the local community.The decision of the Council of Stae plenary on EYDAP stated that the company’s privatization “renders uncertain the continuation of the supply of its affordable utility services and of its quality which is not fully safeguarded by state monitoring alone.” It added that “EYDAP services are supplied on a monopolistic basis to a large population by unique networks in the area,” which also applies in EYATH’s case.Source: Kathimerini Facebook Twitter: @NeosKosmos Instagram
By Yankuba JallowIbrahima Jallow, a legal practitioner in The Gambia has yesterday filed a case against the Government of The Gambia.Lawyer Jallow’s claim is that the former President of The Gambia unconstitutionally assented to the Legal Practitioners Act before it was passed by the National Assembly.“Acting on the powers conferred on the president of the republic of the Gambia to give assent to a bill passed by the National Assembly of The Gambia, the president of the republic of the Gambia unconstitutionally assented to Legal Practitioners Act 2015 on the 27 December 2015 before the Act was passed by the National Assembly,” Jallow said in the suit.He said acting on the powers conferred on it by the constitution of the republic of the Gambia, the National Assembly of the Gambia passed the Legal Practitioners Act 2015 on the 29 December 2015 after the Act was assented to by the president, in contravention of the provisions of section 100 of the constitution of The Gambia.Contrary to the provisions of Section 100 of the Constitution of the Gambia the National Assembly of the Gambia gazetted the Legal Practitioners Act 2015 on the 3rd February 2016 eight (8) days outside the Constitutional prescribed period. According to the litigants, the Constitutional period is within thirty (30) of assent by the president.“The act and or omission of the NAM and the president in paragraph 9, 10 and 11 are in contravention and inconsistent with the provision of section 100 of the Constitution of the Gambia,” Lawyer Jallow argued.“The act and or omission of the NAM and the president are not only unconstitutional but are procedural improper.”Jallow said an action for the declaration under section 5 of the Constitution of the Gambia can be brought against any authority or person and or the president of the republic of the Gambia in his official capacity or title by virtue of section 69 (2) of the Constitution of the Gambia.He sought for a declaration that the National Assembly acted beyond its powers by passing a bill that was assented to by the president.On the second prayer, the plaintiff sought for a declaration that the Legal Practitioners Act be void since the proper procedures as required by law weren’t followed.
Less than one in 10 (8%) employer respondents who have seen their wage bill increase following the introduction of the national living wage have reduced aspects of their reward package, such as paid breaks, overtime or bank holiday pay, in response to this, according to research by the Resolution Foundation.The survey of 500 organisations, conducted in early June 2016, also found that 35% of respondents have seen an increase in their wage bill this year because of the national living wage.The national living wage came into effect in April 2016. The mandatory £7.20 an hour rate applies to staff aged 25 and over.The research also found:6% say the national living wage has increased their wage bill to a large extent.16% of respondents expect the national living wage to increase their wage bill at some point in the future.14% of respondents who have seen an increase in their wage bill have employed fewer staff, offered fewer hours or slowed recruitment.12% of respondents have invested in technology in response to the introduction of the national living wage.15% of respondents have invested in more training for staff.Around a third (36%) of respondents have increased their prices as a short-term reaction to the national living wage, and 29% have taken lower profits.Conor D’Arcy, policy analyst at the Resolution Foundation, said: “The national living wage has already delivered a welcome pay boost to millions of workers. The big question has been how employers would respond. The evidence so far is that firms have absorbed some of the impact on their wage bill, while passing on a share of those rising costs to consumers through higher prices.“Encouragingly, evidence of workers seeing their hours cut or even losing their jobs has so far been relatively limited. The challenge now is for firms to continue to respond positively to the national living wage, particularly by raising productivity.“Brexit is likely to reshape the landscape in which many low-paying sectors operate. This means that the expertise of the independent Low Pay Commission is more important than ever, and ministers should carefully heed their advice.”
FORT LAUDERDALE, FLA. (WSVN) – Fort Lauderdale Police have arrested nine people for looting a Fort Lauderdale shoe store as well as a pawn shop during Hurricane Irma’s approach up Florida.“Going to prison over a pair of sneakers is a fairly bad life choice,” said FLPD Chief Rick Maglione in a statement. “Stay home and look after your loved ones and be thankful they are all safe.”Investigators said the burglary happened at Simon’s Footwear, located at 801 West Sunrise Blvd., sometime Sunday.SWAT and several police cruisers responded to the scene, Sunday afternoon.Police remind everyone that looters will be prosecuted to the fullest extent of the law.A curfew is in place for Broward County from 7 p.m. Sunday night to 7 a.m. Monday, in part to prevent such criminal acts.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
PEMBROKE PINES, FLA. (WSVN) – Police have arrested a soccer coach at a Pembroke Pines school after he allegedly sent messages and photos of a sexual nature to a female juvenile.7News cameras captured 38-year-old Owen Gayle as he was taken into the Broward County Jail, Friday night.He has been charged with transmission of harmful material to a minor, solicitation, unlawful use of a computer and promoting sexual performance of a child. Soon after, investigators said, Gayle delivered inappropriate messages and pictures that were sexual in nature.Police said the victim notified another soccer coach, who in turn contacted Pembroke Pines Police. He was taken into custody at around 4:45 p.m. on Friday.Shortly after his arrest, officials said, Gayle admitted to all charges and was taken to the Broward County Jail in Fort Lauderdale. We are asking parents to please speak with your children in regards to Mr. Gayle. He offered additional private soccer lessons via Soccer Elite Training, First Touch Academy, and the City of Weston AYSO Select Program. Call 954-431-2200 w/ any info. https://t.co/RtBji8QEuZ 2/ pic.twitter.com/eQFwrgRYuI— Pembroke Pines PD (@PPinesPD) November 24, 2018Investigators urged any other people who may have also had similar involvement with Gayle to come forward.If you have any information on this case that could help police, call Broward County Crime Stoppers at 954-493-TIPS. Remember, you can always remain anonymous, and you may be eligible for a $3,000 reward. ATTENTION PARENTS: Owen Gayle was arrested today on charges of Solicitation of a Minor. At the time of arrest, the suspect was associated w/ Somerset Academy as the head soccer coach. Due to his position, Mr. Gayle worked in close proximity with minors. https://t.co/RtBji8QEuZ /1 pic.twitter.com/r7bMTjiIYY— Pembroke Pines PD (@PPinesPD) November 24, 2018According to investigators, Gayle and the victim met when she volunteered with the boys’ soccer team at Somerset Academy, where he is the head soccer coach and she is a student.Police said the suspect, who uses WhatsApp to share practice and game details with team members, used the app to reach out to the victim. Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
JNTU: State secretary of BJYM Vijeet Varma called on JNTU-H Vice-Chancellor Venugopal on Thursday and appealed to him to conduct an advanced supplementary examination for failed B.Tech first year students and to give 18 credit score. He said due to their inability to secure the credit score, about 4,000 students were forced to remain in the first year. Varma stated that holding of an advanced supplementary examination would benefit the students in saving one academic year. Several students accompanied the BJYM leader during the meeting.
REUTERS/Pawan KumarMaking steel has been a good way of burning through money in the last few years, even on the positive tides of good domestic demand. But the pressure on debt-saddled Indian steel firms, who are on target to overtake Japan in a few years, is being aggravated by the rising squeeze on their operating margins, volatile raw material costs and inventory pile-ups. Another flank is now brought up by the banks who are focussed on resolving their stressed assets in the steel, infrastructure and cement sectors, instead of lending to new projects.The slow progress on steel projects has crimped capital expenditure to a point where projects are getting stranded – a queer paradox when the 90-95 million tpa (tonnes per annum) industry is targeting capacities at 300 million tpa of steel by 2025-30.The profits, when they do show up, are being expended on repaying bank debt or in fresh capex, while demand for finished steel has stayed relatively weak at 3 percent in 2016-17. A market where smaller, unorganised players, — who often fashion steel products from scrap and the automobile aftermarket –, are posing stiff challenges to the established players and thinning down their profit margins, is as daunting to the banks as the prospect of their big steel borrowers running into debt traps, mostly inextricable.As of March 2017, the gross non-performing advances ratio or bad loans ratio of banks stood at 9.6 per cent. This means that for every Rs 100 in loans lent by banks, Rs 9.6 was not being repaid by the borrowers. The top 12 accounts of banks, — which, by no coincidence, comprise steel companies — alone constitute a quarter of the gross non-performing assets (NPAs) marked down at Rs 8 trillion on their books.These are the dozen companies referred by the Reserve Bank of India (RBI) for fast-track resolution under the new Insolvency and Bankruptcy Code (IBC).Protectionist vantage pointsDomestic steel companies have been functioning on operating margins hit by lower prices and use of high-cost coking coal inventories. Unwinding 2-3 months of inventories will take time and costs which might hit EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) per tonne by 4-5 percent in the coming two quarters. Subdued domestic demand has been offset, only by attempts to increase export sales. Raghavendra NNo meaningful respite is seen on the cost front, while India’s steel production is quite on target. Steel prices for flat products declined by Rs 1,500-2,000 per tonne quarter-on-quarter to June this year, while long product prices increased by Rs 800-1,000 per tonne. In addition, export prices of hot rolled coil fell by Rs 4,000 a tonne quarter-on-quarter.Domestic steel demand remains weak with 4 percent growth to 13.8 million tonnes in the April–May period of 2017. Uncertainty over GST implementation led to weak sales in the month of June 2017 as well. The demand has been particularly weak for long products due to subdued construction activity as offtake of bars, rods and structural products have been flat year-on-year at 6.9 million tonnes. Export sales have provided respite. India’s consumption of total finished steel rose 4.6 per cent in the April-June 2017 period, aiding 4.6 percent growth in production for domestic steelmakers.China, being the world’s steel supplier, is in a position to impact steel supply and demand in the global market significantly. While steel prices were maintained at a steady peg throughout 2015, China’s overcapacity riled the market, inhibited domestic demand and forced prices down in 2015. Goska Kafel, an analyst for research firm MarketLine, says, “China has been exporting its overcapacity below its costs to the rest of the world, adding pressure to other regions which also face overcapacity issues.”This led to a new wave of protectionism, where the enactment of tariffs and duties by other countries and regions could likely have the negative long-term impact of allowing protectionism to become the standard, which may allow inefficient steel producers to have a safe haven.The rising protectionist trend against Chinese steel in India, has not helped revive domestic demand. But the same trend in other regions has helped boost India’s steel exports to countries hit by rising domestic demand in the Chinese market since the beginning of 2017. This is to the Indian steel sector’s advantage, but cannot be milked for long. The New Steel Policy 2017 investment target of Rs 10 lakh crore to realise capacity of 300 mtpa by 2030-31 must be embarked upon with caution, keeping in mind the overcapacity migraines which the Chinese faced.Most steel companies have been heavily leveraged with there being a long period of increase in their working capital cycles, which were also led by inflation and the economic slowdown. Stranded projects, some of them dependent on costly imported LNG, have led to capex plans being stymied in the initial leg of the working cap cycle.The government’s reduction of import duty on LNG has revived demand marginally, though not adequately enough to justify capital expenditure targets. This implies that asset-heavy steel businesses which banks need for strong loan growth would be fairly subdued.Subduing steel Cut to the state of high exports, high inventories, wafer-thin margins, falling price-to-earnings ratios and high debt at Big Steel: why were steel stocks going at such high prices for years on end? The only explanation is that investors were, against all odds, pretty enthused about the party raging on. But the mood has turned significantly downbeat as things turned serious quarter upon miserable quarter (see chart below).The high default rate among the steel corporates has indeed compelled public banks to put a standstill clause to fresh demands for funds as a means to conserve capital, while reducing damage to their balance sheets in the medium term and addressing impairment-related issues. Raghavendra NNon-performing loans of banks have increased 55 percent since fiscal 2015, while risk-weighted assets (RWA) growth has been manageable at 2 percent, thanks to better capital utilisation by banks and a $4 billion capital infusion in 2016-17 by the government. A loan is categorised as a non-performing advance once repayment from the borrower is due for 90 days or more.PSU banks have slowed down RWA growth to approximately 3 percent year-on-year compared to 5 percent in 2015-16, according to Kotak Capital, which expects a 6 to 37 percent quarter-on-quarter decline in consolidated EBITDA for steel companies due to lower operating margins and seasonally lower volumes.There still appears to be no real consensus on the serviceable portion of steel debt or how banks will right-size this debt, and take huge haircuts, if necessary. Bank balance sheets could be battered further, if the steel companies go into liquidation, entailing steep haircuts of 80-90 per cent. Will this finally rid the steel sector of its debt overhang and resolve the NPA issue even partly?There is still some room for targeted lending to promising projects even if the investment cycle and loan demand has slowed down in specific cases. But the watchword for banks will continue to be extreme caution; and, astute focus on recovering their investments — without alienating their clients in the steel sector who, in a bid to raise capital, might diversify their credit base into commercial paper or non-convertible debt bonds. That wouldn’t help the branding of banks as the beacon-lights of commerce.Distressed debt needs to be addressed with a clear revival plan and shareholder interest in mind. For a start, a big part of corporate India needs to clean up its act, and urgently.
No related posts. The Social Security System, or Caja, on Tuesday announced an investment of ₡148 million ($29,000) in diagnostic and treatment equipment for patients with cervical cancer, one of the top three causes of death in Costa Rica.Caja Executive President Ileana Balmaceda said “with this equipment the institution increases care for women and improves early diagnosis of lesions in the cervix, to reduce the incidence and mortality of cervical cancer.”The equipment was distributed to the Caja’s 12 hospitals.Cervical cancer is the third most-common type among women in Costa Rica. Of every 100 women diagnosed with cancer, 21 suffer from skin cancer, 19 from breast cancer and 13 from cervical cancer. It is also third in terms of mortality rate (7 percent), behind breast cancer (15 percent) and stomach cancer (13 percent). Facebook Comments
Related posts:Bernie Sanders’ CAFTA reversal pledge worries Costa Rica businesses Most Mexico policymakers warn against raising rates before US For Mexicans, the Donald Trump candidacy is getting scarier Budget woes threaten Mexico’s reputation as a conservation leader MEXICO CITY – Millions of Mexicans pay for everything from food to medicine with cash from relatives working in the U.S. Now, the money may allow them to get car loans in a country where a large swath of the population has no access to credit.Japan’s Nissan Motor Co. and its local financing arm said this month they will start granting loans to Mexicans who use their family in the U.S. as co-signers and who can show they get remittances on a regular basis.The move makes credit more readily available in a nation where more than half of residents work in jobs that aren’t taxed by the government, making it difficult for millions to prove earnings and banks loath to lend. Only 39 percent of Mexicans even had bank accounts in 2014, compared with 94 percent in the U.S., according to data published by the World Bank in April.“If banks just get to those potential customers that can have a regular income in a formal job, the credit is going to remain kind of small and saturated in those areas,” Alexis Milo, Deutsche Bank AG ‘s chief Mexico economist, said from Mexico City. “There’s a big number of potential customers that are untapped.”The lending program, known as “Sin Fronteras” (No Borders), gives Nissan, already the nation’s most popular car line, access to potential customers at a time when auto sales are soaring. The financing push also comes as migrant workers in the U.S. take advantage of the slumping peso to send more money back to their relatives. In the year through November, remittances totaled $22.6 billion, the most since 2008, according to the central bank. The U.S. is historically the source of more than 95 percent of that money.These funds have drawn the ire of Donald Trump, the Republican Party front-runner for president. He’s threatening to impound them as part of an immigration policy that includes compelling Mexico to pay for a wall along its border with the U.S. to prevent illegal entry. BBVA Bancomer SA estimates that most of the money comes from undocumented workers. Mexicans in the U.S. can already make mortgage payments to state-backed Infonavit from north of the border, according to the lender’s website.Mexico’s peso gained 0.1 percent Monday as of 12:10 p.m. in New York, paring its decline over the past 12 months to 20 percent.Andrés de la Parra, the chief executive officer of Nissan-backed lender NR Finance Mexico SA, estimates that more than 24 million people in the U.S. send money to relatives in Mexico. The 4,000 to 5,000 loans that NR Finance hopes to make in 2016 under the new program “is taking just a small sample of this great demand and potential market that exists,” he said.The remittance-backed loans will carry an annual interest rate of 18 percent, de la Parra said. The weighted average interest rate on car loans from banks tracked by Banco de Mexico was 12 percent in August 2014, according to the most recent available data.Vehicle sales in Mexico jumped 19 percent last year to a record 1.35 million. The market is only going to get bigger, Deustche Bank’s Milo said. He estimates Mexicans should be buying 2 million cars a year, based on the nation’s population and income level.In a bid to give Mexicans greater access to bank loans, President Enrique Peña Nieto signed into law two years ago sweeping legal changes that included bolstering the nation’s credit bureaus.The Nissan loan program “is something we’re going to see more of in the future,” said Benito Berber, a strategist at Nomura Holdings Inc. “The fact that low-middle class and the low-income population are not in the banking system” is a very important reason “why this could be successful.”© 2016, Bloomberg News Facebook Comments
Tourism Australia managing director Andrew McEvoy said claims of mismanagement at the Ayers Rock Resort were potentially damaging the reputation of Australia’s indigenous tourism attractions. The Indigenous Land Corporation (ILC) has requested Prime Minister Tony Abbott launch a Parliamentary Inquiry into disputes surrounding the management of Ayers Rock Resort. ILC chairperson chairwoman Doctor Dawn Casey emphasised that losses of this magnitude were unprecedented in Indigenous Affairs and raise questions concerning the quality of the corporate governance which allowed the acquisition to occur. “The fact that they have taken indigenous employment from zero to over 200 has been a key factor in that growth, as has the physical improvement in the facility – most notably the conference facilities.” Outgoing Voyages boss Koos Klein has accused the ILC of attacking its own asset and damaging business relationships, staff morale and the resort’s reputation as an iconic tourism choice. “Visitors to our country are looking for genuine Indigenous attractions and experiences, provided by Aboriginal Australians – and that is what Ayers Rock Resort does so well,” Mr McEvoy said. Source = ETB News: P.T. “The current ILC Board is committed to addressing the financial challenges it inherited with the purchase of the Ayers Rock Resort and will ensure that the highly successful Indigenous employment and training initiatives at Yulara are protected to the maximum extent possible,” Dr Casey said. ILC subsidiary, Voyages Indigenous Tourism Australia, purchased the property in 2010 for AU$317 million and have since reported losses of over AU$100 million, including a AU$62 million write down in the value of the resort in 2012-13, The Australian reported.
Los Angeles Rams wide receiver Robert Woods celebrates his touchdown against the Houston Texans during the second half of an NFL football game Sunday, Nov. 12, 2017, in Los Angeles. (AP Photo/Jae C. Hong) Derrick Hall satisfied with D-backs’ buying and selling TeamWinsLossesTiesPoints ForPoints Against The Cardinals also suffered significant injuries, losing starting left tackle D.J.Humphries and safety Tyvon Branch for the year.Stat of the Game: The rushing total mustered by Peterson truly told the story. Arizona head coach Bruce Arians made it perfectly clear heading into the game that Peterson is the focal point of the offense, yet his longest run was only 9 yards. Peterson became just the 18th player to have less than 30 yards in a game with more than 20 carries since 1950.He Said It (Arizona): “We knew this would come down to a game of big plays, and we didn’t make enough. Obviously, Russell made a great play when he was trying to throw it out of bounds and that was probably the deciding factor in the game.” — Arizona head coach Bruce Arians.He Said It (Seattle): “Everybody did their job. Sound gap discipline. Just attacking the ball, attacking him, and attacking everything.” — Defensive tackle Sheldon Richardson on how the Seahawks stopped Peterson.What’s Next: The Cardinals hit the road to take on the Houston Texans Sunday while the Seahawks get an extra day of preparation for their Monday night matchup against Atlanta at CenturyLink Field. Los Angeles Rams 33, Houston Texans 7The Rams struggled through the first 30 minutes against the shorthanded Texans, building a 9-7 halftime lead. Then, they exploded in the third quarter.Jared Goff threw three touchdown passes in an 8 minute span, including a 94-yarder to Robert Woods to start the scoring surge. It was the longest Rams’ offensive touchdown since 1964. With 1:33 left in the the third quarter, Goff hooked up with Sammy Watkins on a 17-yard score to put the Rams up 23-7.That score didn’t remain on the board for long. On Houston’s next play from scrimmage, Tom Savage was strip-sacked by Samson Ebukam and Tyrunn Walker scooped it up and returned it to the Texans’ 12-yard line. Goff hit Woods with another touchdown on the next play.Stat of the Game: The Rams have won three straight games by more than 25 points and lead the NFL in point differential at +134.He Said It: “We’re playing with confidence right now and that’s a good place to be. We can go through some drives like that early on — we never want to — ultimately, we were just shooting ourselves in the foot a lot with penalties and negative plays.” — Quarterback Jared Goff on winning despite his team’s slow start. 190174260 450155223 Grace expects Greinke trade to have emotional impact 720296162 Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo What’s Next: The Rams visit the Minnesota Vikings in a matchup of two of the NFC’s best teams.San Francisco 49ers 31, New York Giants 21It took a long time, but the 49ers finally notched their first win of the John Lynch-Kyle Shanahan era.C.J. Beathard threw for 288 yards and two touchdowns and ran for another as the 49ers won for the first time since last Christmas Eve.Beathard’s first touchdown pass of the day was to speedster Marquise Goodwin — a play that covered 83 yards and gave San Francisco a 10-6 lead in the second quarter.The Giants answered. Eli Manning hit Evan Engram on a 9-yard touchdown pass just before the two-minute warning to give New York a 13-10 lead. But Beathard dialed up another big play, connecting with tight end Garret Celek on a 47-yard touchdown pass with under a minute remaining in the half.Neither team scored in the third quarter, but the Niners broke it open in the fourth on Beathard’s touchdown run and a 33-yard jaunt by Matt Breida.Stat of the Game: The 49ers racked up a season-high 188 yards on the ground, led by Carlos Hyde’s 98 on 17 carries. Breida added 55.He Said It: “I feel good. I feel very good. Didn’t know it would take this long, but it was special with the guys and I was real happy for them. Those guys have been working so hard,” — 49ers head coach Kyle Shanahan. Former Cardinals kicker Phil Dawson retires Here’s a closer look at everything that went down in the NFC West in Week 10.Seattle Seahawks 22, Arizona Cardinals 16Pete Carroll and company may as well buy a winter home in Glendale, because they sure do enjoy their time there. The Seahawks, who played in front of thousands of neon green-clad fans at University of Phoenix Stadium, improved to 4-0-1 in their last five regular-season visits to the desert.Russell Wilson threw for 238 yards and two touchdowns and the Seattle defense completely bottled up Arizona running back Adrian Peterson, who collected only 29 yards on 21 carries.The Seahawks led 15-10 early in the fourth quarter when Wilson started doing Wilson things. Facing a 2nd-and-22 from the Seattle 44-yard line, Wilson channeled his inner-Houdini by escaping pressure from Chandler Jones and Tyrann Mathieu and completed a desperation pass to Doug Baldwin that covered 54 yards and gave Seattle a first down on the Cardinals’ 2-yard line.Wilson then hit Jimmy Graham for a touchdown pass on the next play. It was the second time they hooked up for a score in the game.The win was costly, though. The Seahawks lost starting cornerback Richard Sherman for the remainder of the season to a ruptured Achilles tendon. Five other Seahawks left the game due to injury. After the first ten weeks of the 2017 NFL season, it’s clear that the NFC West is very much a two-horse race.It’s just not being run by the horses most people thought it would entering the campaign.The Seattle Seahawks, who have made the playoffs in each of the last five seasons, are right where they were expected to be.But the Los Angeles Rams, who haven’t earned a playoff spot since 2004, remain in control of the division after another blowout win. 630211165 What’s Next: The 49ers will have to wait a while for the chance to build a winning streak as they’re on their bye week.Award WinnersOffensive Player of the Week: Robert Woods, WR, Los Angeles Rams – The first-year Ram had his biggest day as a pro with 171 receiving yards and his second consecutive two-touchdown game.Defensive Player of the Week: Kam Chancellor, S, Seattle Seahawks – The intimidating Chancellor had 10 total tackles, a tackle for loss that resulted in a safety, a pass defensed and a forced fumble in Seattle’s win over the Cardinals.Special Teams Player of the Week: Jon Ryan, P, Seattle Seahawks – Ryan had a busy night, punting eight times, but averaged 49.8 per punt and pinned the Cardinals inside their own 5-yard line to start two possessions.Standings 4 Comments Share
More than 135,000 people flew from Luton during the busy end of July period, the airport has revealed.While European sunshine destinations were among the most popular at the start of the peak summer period, the demand for city breaks was also high, with flights to Barcelona, Madrid, Paris and Prague experiencing high demand.The Balearic Islands of Majorca, Menorca and Ibiza were the airport’s key holiday destinations, in addition to Spanish mainland resorts close to Alicante and Malaga.Elsewhere, the Turkish destinations of Dalaman and Bodrum and Egypt’s Sharm El Sheikh are also experiencing high number of holidaymakers, with Brits opting for the favourable exchange rate that both countries can offer.Many people also chose to book flights to Larnaca and Paphos in Cyprus from Luton Airport.Last month, Italian cheap flights carrier Wind Jet began weekly flights to Forli from London Luton.Passengers travelling to Forli will benefit from easy access to the Italian destinations of Ravenna, Rimini and San Marino.ReturnOne wayMulti-cityFromAdd nearby airports ToAdd nearby airportsDepart14/08/2019Return21/08/2019Cabin Class & Travellers1 adult, EconomyDirect flights onlySearch flights Map RelatedWind Jet to commence flights to Forli from London Luton tomorrowLondon Luton has welcomed the arrival of Italian-based Wind Jet to the airportBusy summer expected at Exeter International AirportExeter International Airport is planning to accommodate approximately 135,000 passengersThree new airlines in three months at London LutonLondon Luton has benefited from three airlines launching new flights from the airport in just three months.