Canadian cars turning electric without government forcing the issue industry

first_imgOTTAWA – Great Britain and France intend to bar outright the sale of any gas powered vehicles by 2040 but even one of the biggest proponents of electric cars in Canada says that’s likely an impossible goal for this country.France announced its policy in early July, followed by Britain this week, joining Norway and India as the only countries in the world with a plan to entirely phase out the sale of gas or diesel powered cars and trucks.The Pan-Canadian Framework on Clean Growth and Climate Change requires Canada to have a national strategy on zero-emission vehicles by next year and Canadian Transport Minister Marc Garneau has already signalled setting sales targets or quotas isn’t on his agenda.Matt Stevens, CEO of FleetCarma, a Waterloo, Ont., based technology company aiming to help expedite the adoption of electric vehicles, said it might be good for Canada to aim towards a phase-out date for gas powered vehicles but he said 2040 is likely too soon for Canada.Even though that’s 23 years away, Canadians drive far more trucks and SUVs than the British do, and the electric vehicle market in bigger vehicles is not as advanced as for sedans.“One of the big challenges in our market is we buy a ton of pickup trucks and a ton of minivans and a ton of SUVs,” said Stevens.More than half the vehicles sold in Canada are pickups, minivans and SUVs.There are several hybrid and electric SUV models on the market but the first electric minivan — a plug-in hybrid Chrysler Pacifica — just appeared on the market this year and there is no electric pickup truck yet.Stevens said targeting 2050 to see a phase-out of gas powered vehicles might be more realistic but he also said the market is moving there quickly already.Mark Nantais, president of the Canadian Vehicle Manufacturers’ Association, said the emissions standards Canada and the U.S. have jointly implemented are already pushing Canada towards gas-free cars.“The only way we can get (to the standards) is greater electrification,” he said.In 2011, there were only seven electric vehicle models available in Canada, said Nantais. Now there are more than 30.More charging stations are also being added for public use every month, with investments from the private and public sector, including announcements just this month of a network of stations along highways in Ontario, Manitoba and New Brunswick.“A year ago there were five non-Tesla fast chargers in Ontario and now there’s over 100,” said Stevens.Michael Hatch, chief economist for the Canadian Auto Dealers Association, said the “heavy-handed” approach is not good for anyone but thus far he has no indication from the government that quotas or phase-outs are the way it intends to go.He said incentives to get less-efficient cars off the road, help reduce the costs associated with buying electric cars and installing more charging stations are all critical and far better policy to encourage the electric car market.Quebec has introduced quotas for electric vehicle sales that will kick in next year, requiring auto dealers to sell a certain percentage of electric vehicles or buy credits to offset if they miss their targets.The Montreal Economic Institute this week issued a report that said the plan is little more than a new tax on car dealers that will drive up the cost of conventional cars, and have the greatest impact on the price of the cheapest, most efficient vehicles.Vincent Geloso, who peer reviewed the study, said even the Quebec environment department has acknowledged the quotas are going to be impossible to meet because the sales are just not there yet.Just over one per cent of cars sold in Quebec last year were electric, and the province has to increase sales to 3.5 per cent to meet the 2018 quotas. The quota rises to 22 per cent by 2025.In Canada last year about 0.6 per cent of all new cars sold were electric or electric hybrids. There are now about 32,000 electric vehicles on Canada’s roads.-follow @mrabson on Twitter.last_img read more

Morocco to Play Friendly Game against Tunisia

Rabat – The Atlas Lions will be back soon. The Moroccan national football team is set to face Tunisia for a friendly game on November 20 in Tunis.The Royal Moroccan Football Federation (FRMF) confirmed the news on Sunday. “This meeting will serve as preparation for the men of Hervé Renard.”The match will be the first friendly game for Morocco’s Atlas Lions after their praised participation in the 2018 World Cup. The last few months of 2018 will be eventful as Morocco will play several qualification games for the Africa Cup of Nations.The first game will be against Malawi on September 7. Morocco will play against Comoros on October 10 and 13. Morocco will then play against Cameroon on November 16 and a second game against Malawi on March 22, 2019.Morocco’s participation in the 2018 World Cup received international applause despite their loss in two games against Iran and Portugal. Morocco made a draw in its last World Cup game against Spain.The Atlas Lions and their coach, Herve Renard, criticized FIFA and its referees, blaming them for their elimination as the video assistant referee (VAR) was not used during Morocco’s game to review Portuguese mistakes, but it was used to grant Spain an equalizer.Still blaming VARFRMF President Fouzi Lekjaa is still angry at FIFA and the absence of VAR in Morocco’s games throughout the first phase of the World Cup.Lekjaa made his remarks on VAR during a conference to evaluate the African participation in the World Cup held on Saturday in Rabat.In the opening ceremony, Lekjaa said that “the issue of referees should not be viewed from the perspective of victims. We must be able today to make deep analyses, to have the capacity to make concrete proposals for the good of football and its future.”Lekjaa also recalled that FRMF sent a letter to FIFA to condemn referees not using VAR in Morocco’s games.On outside influences interfering in football, he said, “If the business does become dominant [in football], the fear is that talent and art will be sacrificed. It is in this logic that the introduction of new technologies at the level of referee in this case, the VAR must ensure impartiality on fields and football justice.” read more

Candidates react to Trudeau blackface scandal

Local Liberal candidate Kim Huffman says she supports Prime Minister Justin Trudeau’s apology for donning blackface makeup when he was younger.“I thought it was sincere and he clearly owned up to making a mistake 20 years ago,” Huffman said Thursday.“This shows how things have changed. This photo showed up in a yearbook. Something like that would never make it into a yearbook today. This is definitely a teachable moment.”Huffman is among the candidates in Haldimand-Norfolk challenging Conservative Diane Finley, who is seeking a sixth term in the Oct. 21 election.On Wednesday evening, an 18-year-old photo of Trudeau, dressed in an Aladdin costume with his hands and face darkened, was published by Time magazine. He had dressed up for a theme gala at the private school where he taught.Trudeau apologized for having indulged in what he acknowledged was a racist act and confessed to another: wearing makeup during a high-school talent show, while performing a version of Harry Belafonte’s “Banana Boat Song (Day-O).”On Thursday morning, Global News published a video of a young Trudeau in blackface, showing him sticking out his tongue for the camera and raising his arms over his head, part of a montage of people apparently goofing around in a setting that’s hard to discern. A Liberal spokesperson said it was filmed in the early 1990s, when he was in his early 20s.Trudeau addressed the matter again at a news conference Thursday afternoon in Winnipeg.“What I did hurt them – hurt people who shouldn’t face intolerance and discrimination because of their skin colour,” he said. “This is something I regret. I should’ve understood that then and should never have done it.”Norfolk County native Jason Lietaer is a strategist in the Conservative Party of Canada war room.On Thursday, Lietaer said the blackface revelations are an embarrassment to the country.“It’s a bombshell,” he told a Toronto radio station. “It’s the No. 1 trending news story worldwide right now.”Finley condemned Trudeau’s behaviour but stopped short Thursday of calling for the prime minister’s resignation“Unfortunately, he seems to have his own set of rules,” she said.“I’m a great believer in democracy. I’m sure Canadians were shocked and disappointed when the story broke and when they saw how he reacted.“I personally don’t believe he is fit to govern. But I also think Canadians have a right and a responsibility to make that decision.”Bob Forbes, the People’s Party of Canada candidate in Haldimand-Norfolk, said it is ironic that a prime minister who has castigated the People’s Party as racist and intolerant should have a history of racial insensitivity himself.“I was quite stunned,” Forbes said. “When I first heard, I thought to myself, ‘Is this really true?’ Then social media exploded with it.“Justin Trudeau has to be one of the biggest hypocrites of all time based on what he’s said in the past compared to what’s going on right now. It’s like a bomb has exploded. I can’t imagine how difficult this must be for the Liberal campaign right now.”The New Democratic Party of Canada has yet to nominate a candidate in Haldimand-Norfolk.Brooke Martin, Green Party candidate in Haldimand-Norfolk, did not respond to an email invitation for comment by press time.— With files from Postmedia News read more

Summer demand drives Autumn van registrations

· Rolling year registrations total at 380,131 units. · Vans up 5.2% for September, up 3.3% for the rolling year. · Trucks down 23.2% for the rolling year but back to average levels. ‘Truck registrations are close to average levels again after the massive market distortion caused by Euro 4 in 2006. Van registrations continue to rise, with heavy vans taking some 66% of van and 57% of total van and truck registrations,’ said Christopher Macgowan, SMMT chief executive. ‘Medium vans show the biggest percentage rise, up 48%, while light vans show the biggest drop, down 29.2%. The rolling year total for the complete sector at 380,131 was only 0.9% down on September 2006. This shows the predicted return toward the medium-term average. And with vans and trucks helping to deliver the benefits of strong economy, we expect a complete return by the year end.’DownloadClick to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) read more

Whats It Gonna Take For Somebody To Win A Chess Game

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Given the way the championship’s scheduling works, Carlsen will play with the white pieces — and its first-move advantage — for the next two games. It will prove a critical gauntlet for Caruana’s title hopes. Here’s a visualization of how things have gone, and we’ll keep the chart below updated throughout the match. 87654321abcdefgh This is a rare move in this position at the game’s highest levels, and it’s an aggressive one — one often reserved for speed-chess games, rather than the lengthy, classically timed games of a world championship. Carlsen had faced this move with the black pieces only once before, according to ChessBase — in a 2005 game against the Dutch grandmaster Daniël Stellwagen, when Carlsen was just 14. (That game ended in a draw.) Given Carlsen’s prodigious memory for positions, it would be no surprise if he remembered that game well. And he claimed not to be troubled.“To be honest, I was pretty happy about the opening,” Carlsen said after the game.Lichess’s analysis tool calls that sixth move the “Sicilian Defence: Nyezhmetdinov-Rossolimo Attack, Gurgenidze Variation.” Gurgenidze was the Georgian grandmaster Bukhuti Gurgenidze, and “one of the most original and striking players of the Soviet era,” wrote ChessBase upon his death in 2008. The early part of Thursday’s game was striking, too. Grandmasters called it the sharpest opening they’d seen in world championship history.Generically, this sort of move, a pawn to b4, is called a wing gambit, and it can be ventured in a few different openings. White sacrifices a pawn to potentially gain an advantage in the center of the board and in the mobilization of his pieces — the claiming of territory and the arming of his troops. Indeed, it was perhaps the first time in the match that the player with the white pieces had been able to sustain anything one might be able to call an attacking advantage.Yet Carlsen was able to parry the threats. He appeared calm throughout the game, occasionally throwing one arm over the back of his chair, ever so suave in his gray suit.By Caruana’s 19th move, he was perhaps regretting that his brief advantage had fizzled. And indeed it had. He spent nearly 32 minutes on that move, head often in both of his hands, pondering the board. Carlsen and Caruana agreed to a draw after 34 moves and just over 3 hours, in the position below. The match now sits level, 2.5-2.5. 87654321abcdefgh Game 5 of the World Chess Championship began under a cloud. Not a literal cloud, though there were those in London, too. Rather it was the lingering hubbub of a published and deleted video. Since that video was released, a prominent chess writer resigned and, oddly, the event’s organizing body announced that it had hired a security firm that was ready to sweep for illicit electronic devices and deploy polygraphs on the players if necessary. Was the latter related to the video? To some other bit of intrigue yet to fully emerge? Or just because chess’s governing body is, how do you say, filled with plenty of intrigue of its own?I have no answers for you. But I do have some chess to relay. To catch you up if you’re just joining us: Magnus Carlsen of Norway is seeking his fourth world title. His challenger Fabiano Caruana of the U.S. is trying to become the first American world champion since Bobby Fischer in 1972. The pair began the day’s game tied 2-2 in the best-of-12 title match.1Wins are worth 1 point, draws 0.5 and losses 0. It didn’t end much differently.The two grandmasters started Thursday’s game with the Rossolimo variation of the Sicilian Defence — the third time they’ve opened with that sequence of moves in the match’s five encounters. But then came a lightning bolt that briefly illuminated the match. It was known as “6. b4!?”Caruana’s sixth move — his white pawn to b4 — electrified the encounter. This is what the board looked like after it struck. Game 6 begins Friday at 3 p.m. Greenwich Mean Time — that’s 10 a.m. Eastern. I’ll be covering it here and on Twitter. read more

Jagdeo welcomes impartial COI into 20022009 crime spree

Opposition Leader Dr Bharrat Jagdeo is not only open to a Commission of Inquiry (COI) into the crime spree that occurred under his presidency, he is in fact urging that the government launch the inquiry and uncover the political authors responsible.Opposition Leader, Dr Bharrat JagdeoDuring a press conference on Saturday, Jagdeo called out the government on the question of the COI.However, he noted that if this COI is to be launched, it must be with impartial and reputable adjudicators.Jagdeo also questioned the President’s delay in launching the COI, considering the fact that a number of other COI’s were ordered.Moreover, he noted that members of his former administration are willing to provide assistance to the inquiry.On Friday, Minister of State Joseph Harmon hinted at Government’s intention to establish a COI to probe the circumstances of the spate of murders, which were witnessed between the period 2002-2009.Harmon had posited that the Coroner’s Inquest Act requires an inquest be held for any unnatural death.The Minister said those Guyanese who have lost their families during the Lusignan and Bartica massacres and other mysterious killings deserve closure.The victims of the 2008 Lusignan MassacreThe 11 victims of the Lusignan massacre which occurred 10 years ago were yesterday remembered at an inter-faith service coordinated by the Indian Action Committee (IAC).In the feature address, Former Chairman of the Ethnic Relations Commission, Bishop Juan Edghill, spoke on the strength of the Lusignan community, considering the irreconcilable damage that has been done to the community.Edghill also said that he welcomes the COI, “the country needs to know what happened here. This country needs to know who are the intellectual authors of what transpired here. I look forward to an independent inquiry that is not directed by political influences,” he added.Social Cohesion Minister Dr George Norton who also spoke at the event said that even though the heinous and cowardly act happened a decade ago, the terrible loss of life is still difficult to fathom. He said, however, that he admires the strength of the victims’ relatives, who are coping with an indelible loss.On January 26, 2008, gunmen stormed into Grass Field, Lusignan, opening gunfire on sleeping residents. At the end of the 15-minute ordeal, Shazam Mohamed, Clarence Thomas, his son, Ron 11, and daughter, Vanessa 12; Mohandai Gourdat, 32, and her two children; Seegobin, four years old, and Seegopaul Harilall, 10; Shalem Baksh, 52; Rooplall Seecharan, 56, his daughter Raywattie Ramsingh, 11, and his wife, Dhanrajie, called ‘Sister’, 52 were all dead.Those injured in the ordeal were Howard Thomas 19; Nadir Mohamed, 48, and five-year-old Roberto Thomas.The motive of the vicious attack is still unclear; however, the actions were claimed by the notorious killer Rondell ‘Fine Man’ Rawlins, who is now dead. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedLindo creek CoI being held “in camera” – HarmonFebruary 22, 2018In “latest news”Assassination Plot CoI will destroy morale of the Force – Opposition LeaderJuly 28, 2017In “Crime”Lindo Creek CoI postponed as daughter of massacre victim loses consciousnessMarch 15, 2018In “latest news” read more

A bright future predicted for aluminium producers supplying Chinas demand

first_imgAluminum demand in China is expected to grow by 15% in 2010 on the back of revivals in the construction and automobile sectors, www.chinamining.org reports. According to reports, aluminium’s long-term prospects are good as China is still heavily into urbanisation and its metal intensive growth is likely to continue for many years to come. About 65% of aluminum consumption is in the east and mid south of China. The urbanisation of the northwest and the southwest has great potential for aluminum demand.In the short-term, overcapacity, plenty of inventories and re-opening of smelters due to facilities returning to profitability will cap any upswing in aluminum prices, www.chinamining.org says. However, the current average cost of the Chinese smelters is $2,000/t and is rising further due to increases in bauxite, alumina, coal and power prices. These cost push factors provide a strong floor for aluminum prices.LME aluminum is expected to trade at between $2,000/t and $2,400/t in FY11 and analysts feel that the FY11 average will be $2,200.Indian aluminum producers are best placed with captive bauxite, alumina and power and are insulated from across the board cost increases to a large extent. In the pure aluminum space, Nalco is set to benefit. It is one of the cheapest aluminum producers and has volume upside of 30% in both aluminum and alumina due to brownfield expansion.last_img read more

Airobotics Optimus drone keeping an eye on BHPs closed San Manuel copper

first_imgAirobotics revealed last week it had signed up BHP as its first customer in North America following the launch of its new Scottsdale, Arizona headquarters. Efrat Fenigson, VP of Marketing of Airobotics, provided IM with some insight into how the world’s biggest miner by market capitalisation is using the company’s autonomous Optimus drone.IM: On what operation is BHP using one of Airobotics’ automated drones?EF: Airobotics’ automated drones are currently deployed by BHP in Arizona, San Manuel in a closed mine site.Airobotics has one brand of drone – Optimus. Optimus doesn’t work as a standalone drone, it is part of a solution created entirely in-house. Airobotics automated drone solution is comprised of four major components:Optimus – an autonomous, large, high capacity drone;Airbase – a completely automated base station which houses the Optimus drone, and a robotic arm that handles the swapping of batteries and payloads;Airobotics software – integrated, dynamic software that enables users to control and manage missions with one click and analyse data in a user-friendly dashboard;Data insights – highly accurate and repeatable missions deliver actionable business insights to customers, using LiDAR, photogrammetry, video and thermal imaging.IM: For what purpose is BHP using Airobotics drones?EF: BHP is using the Airobotics solution to achieve real-time aerial insight, aimed at reducing risk and improving efficiency, performing inspections and delivering orthophotos and 3D models.IM: Why was an automated drone preferred over other drone options?EF: Standard piloted drone services are expensive, inaccurate and not always available. Our drone platform is fully automated from end-to-end, and we are the first commercial drone in the world to be certified to fly without a human operator in Israel, and currently in the process in the US.Our unique capabilities include:Multiple payloads and battery swapping – Airobotics’ system has the unique capability of swapping its own batteries and payloads, using a robotic arm. This allows for a diversity of payloads and mission types;Fully automated platform – Airobotics’ platform is able to automatically self-launch, fly as well as land, time after time, accurately. By taking the drone pilot and operator out of the equation, Airobotics enables safety assurances for enterprises;Industrial grade, durable and weather resistant platform – The Airbase is completely sealed, waterproof, durable, and corrosion resistant. More than that, the Airbase is made from a rugged, industrial grade exterior. Optimus drones can fly in rain and wind of up to 20 knots with gusts of 30 knots.Coverage and speed – Airobotics drones can cover up to a 5 km radius around the Airbase, at a speed of 10 m/s for up to 40 minutes.BHP’s in-situ copper leaching operations at San Manuel, Arizona, was shut down in 2001. It ceased underground mining at San Manuel in August 1999 due to a sustained period of low copper prices, but was producing some 100,000 t/y of copper prior to this.last_img read more

Backlash gohome for Smackdown Live tonight from Manchester

first_img Now Playing Up Next Pinterest Now Playing Up Next WWE Confirms The Shield And Ronda Rousey At Super Show-Down Now Playing Up Next WWE Smackdown Live takes place tonight from Manchester, New Hampshire. Tonight is the go-home show for this Sunday’s Smackdown-only Backlash PPV.Scheduled for the show is:* WWE Champion Randy Orton vs. Baron Corbin.* AJ Styles vs. Jinder Mahal.* Rusev returns to demand a future WWE Championship shot.* WWE US Champion Kevin Owens hosts his version of the Highlight Reel.Wrestleview.com will have live coverage of Smackdown beginning tonight at 8:00 p.m. ET.Recommended videosPowered by AnyClipWWE’s Chris Jericho Cast In Kevin Smith’s Horror MovieVideo Player is loading.Play VideoPauseUnmuteDuration 0:32/Current Time 0:03Loaded: 100.00%0:03Remaining Time -0:29 FullscreenUp NextThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Replay the list Videos Articles Jason Namako RELATED ARTICLESMORE FROM AUTHOR WWE’s Chris Jericho Cast In Kevin Smith’s Horror Movie Andrade and Elias advance to the Quarterfinals of the 2019 King of the Ring tournament Google+ Chris Jericho Facebookcenter_img Kevin Owens sends cryptic NXT messages after being “fired” on Smackdown Live Kevin Smith Twitter Now Playing Up Next WWE United States Championship match added to Clash of Champions this Sunday in Charlotte WWE Still Moving Forward With Crown Jewel Event In Saudi Arabia WhatsApp Now Playing Up Next Kevin Smith Teases Latest Addition To Cast Of Jay And Silent Bob Reboot John Oliver Takes On The WWE Videos Articleslast_img read more

OxladeChamberlain living his dream at Liverpool

first_imgAlex Oxlade-Chamberlain admitted that it was a career-changing moment for him when he decided to join Liverpool and he can’t even say how much he has been enjoying playing for the Reds.The England international joined Liverpool back in summer from Arsenal and he has been doing really well as he has found his spot in Jürgen Klopp’s starting eleven and he has been enjoying the support given by the fans.The former Gunner spoke about his feelings as he said, according to 101 Great Goals:“Even when we were doing our walk before the game (on Saturday), the buzz around the city at the moment is amazing.”divock origi, liverpoolReport: Origi cause Klopp injury concerns George Patchias – September 14, 2019 Divock Origi injury in today’s game against Newcastle is a cause for concern for Jurgen Klopp.Perhaps with one eye on Tuesday’s trip to Italy…“As a player, you can’t thank people enough for that, they are the moments you dream of as a young lad.”“To play for a club like Liverpool that has support like this and to see the appreciation from the fans, it just makes me want to go on the pitch and every time we can keep making them happy.”“I love it. It’s not hard to go and enjoy it when you go out there and you hear the fans singing.”“It’s not hard to enjoy your football here, really. It helps when your form’s going well and when the results are going for us like they are at the moment.” “We’re in a good spell at the moment, it’s really enjoyable, but we need to keep focused and I need to keep focused to keep performing at this level and improve to help the team move forward.”last_img read more

Promoting Caribbean Tourism on a Global Market

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp Related Items: Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, TCI, November 15, 2016 – Dr Lisa Indar, Head, Tourism and Health Programme at CARPHA, met with the Secretary General and executive members of the United Nation World Tourism Organization at the World Travel Market on Wednesday 9 November in London.  At the meeting, Dr Indar presented the concept and objectives of the Tourism and Health Programme to this international body, taking the opportunity to bring global recognition to the programme and advocate for assistance and collaboration.  She also met with officials of Public Health England (PHE) to discuss strengthening collaboration for improving the detection and response to travel related public health events, thereby contributing to enhancing global security.The World Travel Market is one of the largest gathering of global tourism stakeholders for the promotion of tourism, as the Caribbean is touted as the most tourism-dependent region in the world, this was an excellent opportunity to meet stakeholders and raise the profile of the Region as a premier tourist destination.With the Caribbean facing Health, Safety and Environmental Sanitation (HSE) threats, including disease outbreaks, resulting in declined tourism arrivals, safety and health are key aspect to tourism growth and sustainability.  Representation at this event also allowed for meeting with global health and travel and migrant health officers of Public Health England and the promotion and strengthening of collaboration with respect to the Caribbean Travel and Health Network (CATHNet), which aids in early reporting and response to illnesses among visitors from the United Kingdom.The CARPHA Tourism and Health Programme is being funded by the Inter-American Development Bank (IDB) and highlighting the positive impact of the Tourism Health Project as a vehicle for an enhanced safer and healthier Tourism product can help to give the Caribbean a marketing edge over other countries and regions.last_img read more

UBI conducts meet to review performance of branches in Nellore

first_imgNellore: Union Bank of India (UBI) has conducted a meeting in city on Saturday on consultative and ideation process at the regional level with the branch managers. Officials, who addressed the meeting said that the aim of the consultative process is to understand performance of the branches and opportunities available in the respective command areas. Also Read – Fit India rally held in Vijayawada Advertise With Us The special areas of discussions were initiatives required for doubling income of the farmers, enhancing the credit to small business houses, empower women and SC/ST entrepreneurs, Jal Shakti, support for blue and green economy, and credit to Swacchtha related issues. The bank has 187 branches across the State and 60 are under Nellore region, officials informed. Branches in Nellore have extended credit aggregating to Rs 181.7 crore under MUDRA, YOJNA, and Rs 223 crore under agriculture and allied activities. Field General Manager (GM) from Bengaluru B Srinivasa Rao, Nellore Regional Head SR Manivannan, heads of 60 branches spread across 6 districts were present.last_img read more

PM gives away Ekushey Padak to 21

first_imgPrime minister Sheikh HasinaPrime minister Sheikh Hasina on Wednesday distributed coveted Ekushey Padak-2019 among 21 eminent citizens for their contributions to their respective fields, reports UNB.The prime minister handed over the Ekushey Padak, the second highest civilian award in Bangladesh, to the awardees or their family members at a function organised by the cultural affairs ministry at Bangabandhu International Conference Centre in the city.Professor Halima Khatun (posthumous), lawyer Golam Arif Tipu and professor Monowara Islam got the award for their role in the Language Movement.Subir Nandi, Azam Khan (posthumous) and Khairul Anam Shakil won the award for their contributions to music while Lucky Enam, Suborna Mustafa and Liaquat Ali Lucky for performing arts.Sayeda Khanam and Jamal Uddin Ahmed were honoured with the award for their contributions to photography and fine arts respectively while Khitindra Chandra Baishya was given the Ekushey Padak for his role in the Liberation War.Biswajit Ghosh and Mahbubul Haque were conferred the award for their research while Pranab Kumar Barua was awarded for his contribution to education.Rizia Rahman, Imdadul Haq Milon, Ashim Saha, Anwara Syed Haq, Mainul Ahsan Saber and Harishankar Jaladas received the award for contributions to language and literature.Each recipient got a gold medal, a certificate and a cheque for Tk 200,000.State minister for cultural affairs KM Khalid presided over the function.Cabinet secretary Mohammad Shafiul Alam read out the citations of the award recipients, while acting cultural affairs secretary Abu Hena Mostofa Kamal delivered the welcome speech.last_img read more

Network18 slips to sharp Rs 27cr quarterly loss

first_imgNetwork18 Media and Investments on Wednesday reported a consolidated net loss of Rs 27.42 crore for the second quarter ended September 30. The company had registered a consolidated net loss of Rs 36.46 crore in the same period a year ago. Network18’s total income from operations for this quarter stood at Rs 795.1 crore. It was Rs 736.12 crore during the same period of the previous fiscal.last_img

VIDEO Cubs Ian Happ launches home run on the first pitch of

first_imgIan Happ says “WELCOME TO 2018!” pic.twitter.com/A5Dcb4jVRR— Adam Lichtenstein (@ABLichtenstein) March 29, 2018 Cubs centerfielder Ian Happ got the 2018 season started in a hurry when he launched a bomb on the first pitch of the 2018 season Marlins’ starter José Miguel Ureña. Right before the pitch, Cubs announcer Jim Deshaies mentions that Happ had 7 spring training home runs and could take a home run cut if he got a first pitch fastball. He got a fastball.This wasn’t exactly the start Derek Jeter was looking for in his first year running the fish.Ian Happ kicks off #OpeningDay with a leadoff homerun off Jose Urena on the first pitch of the 2018 season 😳pic.twitter.com/z6CFuLRFdo— Def Pen Sports (@DefPenSports) March 29, 2018last_img read more

Handle HMDA With Care

first_img Consumer Financial Protection Bureau Home Mortgage Disclosure Act 2016-01-15 Staff Writer Handle HMDA With Care January 15, 2016 686 Views in Daily Dose, Government, Headlines, Newscenter_img In October 2015, the Consumer Financial Protection Bureau (CFPB) finalized the Home Mortgage Disclosure Act (HMDA) adding more to the data point requirements burden on lenders and vendors.Michael Flynn, a partner in Goodwin Procter’s Financial Institutions Group sat down with MReport to explain how the HMDA rule is shaking up the mortgage industry and advises on how to cope with the changes.MReport: How are lenders are held accountable for the actions of their vendors under the CFPB?Flynn: There’s two different kinds of vendors to think about. First, there are the vendors who supply the platforms such as origination platforms or document platforms that lenders use to generate mortgages. To break that down further, you can look at how the lender relates to those vendors and how the regulators relates to them. Clearly, if there is a problem with the vendor’s system so that the data the lender needs to pull together can’t be pulled off of the third-party platform system, the lenders Is going to be looking at the vendor both in terms of any problems with regulators and in terms of contractual obligations of the vendor to the lender in order to get the vendor to fix the system quickly. If any vendor is having a problem in that area, that vendor is going to have some real issues in the market—this would not be a good thing for the vendor, obviously.The regulators would potentially look at such a problem in two different ways. First, looking directly at the vendor, regulators may think that certain vendors have serious problems and will then put pressure perhaps the vendors, if possible,  and on the lending community to say if you use this vendor you may want to look out for these problems and hold the vendor accountable. This then makes it the lender’s problem to pay attention to the vendor’s product in order to avoid a vendor management issue with the regulator. The other, more direct, way the regulators can approach such a problem is just to say whatever bad data is produced by the vendor system that feeds into the lender’s data required by HMDA, the lender is going to be accountable.  It’s unlikely that a regulator will just accept a lender saying, “Oh my vendor did it” or “It was my vendors fault.” In certain circumstances, it certainly should help that a lender is actively managing its vendor,  but even active vendor management does not relieve a lender of its HMDA obligations.The other type of vendors are third-party originators. If a lender is dealing with a third-party originator, the regulators, particularly the CFPB, might have more direct interest in those vendors. To the extent the new HMDA data shows particular fair lending issues with specific third party originators, regulators may focus on both the lender and the third party originator, raising a different focus vendor management.MReport: What institutions will be most affected by the HMDA regulation?Flynn: It goes in two directions. It will affect new players that will be under these rules for the first time.  Those institutions will include a fair share of non-depository, non-bank lenders, who under the new rules, would have to start reporting if they do a specific numbers of closed-end or open-end mortgage-secured loans. Some of these institutions previously had to report HMDA data, but large numbers of them did not.  If these are smaller institutions, its obviously a big cost issue for them relative to their size and available resources.Other institutions that have a different kind of problem are the bigger originators. There are at least 25 new data points that are going to have to be reported on and at least 12 more of the exisiting data points are modified. Let’s just take the 25 new ones. If you are a lender doing 2 million loans per year, you’ve now got 50 million more opportunities to make a data mistake, whether it is entering a wrong number or having a system problem. The scale of the problem is greater for big lenders, even if it just considering the amount of time it takes to get such large systems up and running. But it is also a bigger problem for these larger institutions because a glitch in the system could cause very large numbers of affected loans and a lot of incorrect data. The other issue for larger lenders is that if a system fix is needed, the system could be much larger than the system of a smaller institution. This could be a real strain on these lenders.MReport: What types of vendors will most likely to face increased regulatory scrutiny in the near future?Flynn: I think third-party originators will certainly get more scrutiny partly because data identifying them and an originator is going to be more regularly gathered now.  This will give regulators and other parties the opportunity to identify their lending patterns more accurately.   As discussed previously, I n terms of vendor liability, the data generated by vendors whose platforms are used by lenders to originate loans or to gather data from originations are, given the volume of data that will be reported, going to face heavy scrutiny from the lenders who use them. They are going to face contractual pressures from their customers, the lenders, to make their systems and data collection work really well.MReport: How will HMDA affect consumers?Flynn: If in fact, there are lenders that are engaged in fair lending violations, the increased HMDA data will make it easier to identify such behavior.  If regulators or others identify such problems (or if lenders self-identify such problems), lenders will be incentivized to correct their behavior. This should increase access to credit for consumers who were wrongly being denied such access.The other the new reverting requirements might help consumers is that the increased amount and types of data may show which lenders are most likely to deny credit based on type of loan, credit background, and other factors.  This might help consumers to choose carefully who they borrow from. If this occurs, it could also affect the market as a whole as lenders see which lenders themselves study this data. 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GUADALAJARA Mexico – Officials of the State of Ja

first_imgGUADALAJARA, Mexico – Officials of the State of Jalisco, including the Pensions Institute of the state (IPEJAL) and investment firm Rasaland (RLD) presented a $183 million dollar real estate project before the State’s Governor, Emilio Gonzalez, according to a press release received by Elite Traveler.The projects marks the continued strength of Mexico for elite travelers looking for real estate investments. Among investors and businessmen, the group presented the creation of the joint investment trust fund for the development of the real estate project in Chalacatepec, on the coast of Jalisco, in the heart of Costalegre, two hours from the Puerto Vallarta International Airport, consisting of almost three thousand acres of land and five miles of beachfront paradise. The federal and state government has already planned the construction of highways and the expansion of existing roads to facilitate access to the area. The project will generate 8,300 jobs.Jalisco State Governor, Emilio Gonzalez, expressed his satisfaction with the process of the project stating that: “What we are witnessing today is something historic and extraordinary. This is something that Jalisco had not yet accomplished in the past and a lot of things had to happen so that we could reach this moment. We are thrilled to now be able to give Mexico and the rest of the world the construction of a sustainable tourism project, linked to natural resources, the community, and the sustainable market,” said Gonzalez.Allen Sanguines, the President of Rasaland, highlighted the work of the University of Guadalajara, the Ministry of Environment and Natural Resources as well as the Ministry of Environment for the Sustainable Development of Jalisco, who all collaborated and worked together diligently with local authorities, in order to meet local ecological codes.last_img read more

While Russians elsewhere in the EU are flooding home in Cyprus they

first_imgCyprus, and Limassol in particular, is proving immune to the exodus of Russians living in the EU who returned to their home country in 2016, spurred on by what they say is a growing anti-Russian climate within the European bloc.According to recent reports in Russian news outlets, about 30,000 Russians left the EU in 2016, reaching 150,000 when those living in former Soviet republics were included in the figures of those Russians returning home.A major reason is a recent government incentive-laden programme aimed at luring Russians back home, but also, according to Sputnik news, “the constant psychological pressure of anti-Russian sentiment in many EU nations, which rose dramatically three years ago as a result of the crisis in Ukraine”.“The level of Russophobia has reached a level where in Prague you see cars with anti-Russian signs, and on the street you might get a rebuke if you speak in Russian,” a Russian woman named Natalia, who had lived in the Czech Republic for almost 20 years, told Izvestia newspaper.For a whole variety of political, economic and cultural reasons, this rising trend has passed Cyprus by. Around 40,000 from Russia and the former Soviet republics now live in Cyprus, and about 75 per cent of those in Limassol.The director of the Cyprus Russian Business Association Andy Nathanael told the Sunday Mail that relations between the two countries are excellent.Mila Levinskaya has lived in Cyprus for the past 14 years“In our case, we don’t feel that [anti-Russian sentiment] at all. There are magnificent people here and everyone feels welcome,” said Russian born Mila Levinskaya who works at the same association and has lived in Cyprus for the past 14 years.“This is a very friendly, Russian-oriented country.”Asked if she had ever felt there had been an anti-Russian climate on the island she said “absolutely not. I had the option to go back to Russia some time ago but Cyprus is my chosen home.”“I don’t think we have this in Cyprus at all. In fact, the opposite is true. Limassol has a thriving community of Russians,” Natasa Pilides, director of Cyprus Investment Promotion Agency, told the Sunday Mail.The island was quick to adapt to the large community who first started to migrate here in significant numbers in the late 1990s.While many Russian children attend either the government schools or English-speaking private institutions, Limassol also boasts three Russian schools with a total of 600 students, two nurseries and 20 educational centres. In the Kalogirous area of the city, a Russian church is being built.The Russian Commercial Bank (RCB) was also set up in Limassol in 1995 and has since expanded with branches in Nicosia, Paphos and Luxembourg, with representative offices in London and Moscow.Nathanael lists the modern infrastructure and the port as major factors why Limassol is such a magnet. Many observers also acknowledge the role played by former mayor Andreas Christou in developing ties with Russian cities, particularly St Petersburg.Apart from obvious attractions such as the climate and business incentives that Cyprus offers, a major reason why Russians aren’t leaving the island is the positive stance of Cypriots towards Russia.“Compared to other European societies, Cypriots sympathise with Russia not only due to the extensive activity of Russian businessmen that benefits Cypriot economy, but also due to the cultural bond that connects the two Christian Orthodox nations,” Dr Michalis Kontos, lecturer in international relations at the University of Nicosia, told the Sunday Mail.“Russian citizens seem to feel like home in Cyprus, even after the bail-in decision that was imposed on the Republic by the Eurogroup in March 2013 and severely affected Russian deposits in Cypriot banks.”Indeed, this month marks four years since the 2013 haircut on deposits after Cyprus turned to the EU for financial assistance to recapitalise the Bank of Cyprus and Laiki Bank. The deal struck by the troika of lenders – the European Commission, the European Central Bank and the International Monetary Fund for a €10billion bailout resulted in Laiki Bank closing down and depositors deprived of their savings except the government guaranteed amount of €100,000.A levy of 47.5 per cent was imposed on Bank of Cyprus uninsured deposits.Although some Russians ended their business dealings with Cyprus, Nathanael said, others stayed as ultimately “they realised this was a political decision taken in Brussels.”In addition, Cyprus’ attractive tax regime at 12.5 per cent corporate tax remains a strong allure coupled with “an excellent services sector with lawyers and accountants and a good standard of living,” he added.Natasa Pilides, director of the Cyprus Investment Promotion AgencyAccording to Pilides, Russians aren’t leaving now for much the same reasons they didn’t leave after the haircut – the excellent professional relationships with trusted advisors, the ease of doing business on the island, the fact that Cyprus is now EU jurisdiction, the proximity of the island with Russia combined with a high quality of life and nice weather are key factors in the strong business relationship between the two countries, she told the Sunday Mail.History of course has played a significant role in cementing the ties between the two countries.According to Nathanael, it began during the Soviet era when Cyprus would export agricultural products and import military equipment.During that time, many Cypriots studied there, and Pilides adds the importance of the double tax treaty the two nations had at the time. Even when the Soviet Union collapsed, relations still remained strong. It was to Russia after all that in 2011, the communist run government of Demetris Christofias turned to for a €2.5 billion loan.Although trade between Russia and Cyprus is now at a standstill due to EU-imposed sanctions on Russia over the turmoil in Ukraine and the annexation of Crimea, parliament last year passed a resolution calling on the government to work towards ending the sanctions on Russia.Although it served no practical purpose, it sent a message to Russia that it had support. The 17 MPs of ruling Disy at the time had abstained from the vote and it was passed by 33 votes in favour.Tourism provides another boost to the Russian presence. In 2016 when Cyprus hit a record number of over three million arrivals, Russian tourists, now the island’s second largest market after the UK, had increased 49 per cent since the previous year to 780,000 visitors.And the formalities are easy. Obtaining a tourist visa to visit Cyprus can now be done via email. Levinskaya said it was not unusual for Russians to visit on holiday, see how Russia-friendly the country is and then decide to re-locate here.In Europe generally, the numbers of those heading back to Russia are expected to increase, according to Vladimir Olenchenko, member of the European Research Centre of the International Relations Institute of the Russian Academy of Sciences, particularly after the Brexit vote and the migrant crisis.“The unstable policy of the future in the EU, connected with a serious migration crisis, also has an impact,” he told the news outlet VestnikKavkaza in a recent interview. “The UK’s determination to withdraw from the European Union is also a problem. As a result, the economic factor and the pressure of migration are forcing migrants from Russia and other European countries to return to their homeland.”An office in Limassol displays the Russian and Cypriot flagsSuch a gloomy forecast has no resonance with Irina Mouraitova, who has been living in Limassol for the past 15 years.She said that although some individuals might have been hostile towards her – Russian women are not always seen in the best light by Cypriot wives and others that resent how important speaking Russian has become for prospective employers – her overall experience has been very positive.“I know a few that left during the banking crisis but it’s stable now and I don’t experience any problems,” she said.“Now it is easy for someone to adjust, there are many, many Russians living here, particularly in Limassol. You can find Russian food and things written in the Russian language.”For Levinskaya, religion is also incredibly important. “I think many Russians prefer Cyprus because they are both Orthodox. In the Turkish side that is Muslim, there are not many Russians like here.”You May LikeLuxury Crossover SUV I Search AdsThese SUVs Are The Cream Of The Crop. Search For 2019 Luxury Crossover SUV DealsLuxury Crossover SUV I Search AdsUndoFigLeaf Beta AppFigLeaf brings You 3 Easy Steps to Privacy on Your Terms…FigLeaf Beta AppUndoTruthFinder People Search SubscriptionOne Thing All Liars Have in Common, Brace YourselfTruthFinder People Search SubscriptionUndo Concern over falling tourism numbersUndoTurkish Cypriot actions in Varosha ‘a clear violation’ of UN resolutions, Nicosia saysUndoIsraeli rape suspects freed, woman who alleged assault arrested (Updated)Undoby Taboolaby Taboolalast_img read more

Delek committed to developing Aphrodite field

first_imgBy George PsyllidesIsrael’s Delek Drilling is committed to developing the Aphrodite gas field, its CEO said on Friday, in line with its strategy of supplying the Cypriot and Egyptian markets with natural gas in the fastest and most efficient way.“We already started the process of marketing the gas into those markets and we have long discussions with potential buyers for this gas and we are fully committed in developing the reservoir,” Delek Drilling CEO Yossi Abu said after a meeting with President Nicos Anastasiades.Aphrodite, located in block 12 of Cyprus’ exclusive economic zone (EEZ), is licensed to a consortium made up of US-based Noble Energy, Delek, and Avner.Last June, the consortium submitted plan on how to develop the reservoir. The government was expected to submit its comments on Friday.“We and the government are working very closely together in order to do that as fast as possible and as efficient as possible” he noted.Commenting on the recent discovery of a massive gas field off Egypt’s coast by Italian ENI, Abu said it was a positive development.Last weekend, ENI announced that its gas discovery at “Zohr Prospect”, could hold a potential of 30 trillion cubic feet of gas, the largest gas discovery ever made in Egypt and in the Mediterranean Sea.“We are seeing a very positive outcome of the discovery of ENI in Egypt,” Abu said, adding that this heightened the attention on Eastern Mediterranean gas and enhanced the potential for more oil and gas discoveries in the region.Abu said there was also more potential for more discoveries of oil and gas off Cyprus’ shores.“The discovery in Egypt brings us to a place that we assess the Egyptian market and the need for gas in this market,” he said. “We see more potential in the local market of Egypt for more demand for natural gas.”The needs and the demand for natural gas in Egypt is around 60-70 bcm a year, and according to Abu, there was also a place for natural gas from the Cypriot discoveriesAsked about Delek’s interest in acquiring 19.9 per cent of Noble Energy’s shares in block 12, Abu said they were discussing the matter with the American company.Noble holds 70 per cent of the shares in the consortium with Delek and Avner each holding a 15 per cent share.You May LikeDirectExposeWorld’s First Surviving Octuplets Are All Grown Up. Look At Them 9 Years LaterDirectExposeUndoIcePopMan Notices A Strange Hole In This Lake, So He Gets A Drone, Flies It Inside And Captures ThisIcePopUndoSenior Living | Search AdsCheap Senior Apartments in Rowland Heights Are Turning HeadsSenior Living | Search AdsUndo Pensioner dies after crash on Paphos-Polis roadUndoCruise passenger airlifted to Paphos hospitalUndoThree arrested in connection with hotel theftsUndoby Taboolaby Taboolalast_img read more