National Well-Being Improves

first_imgRelatedNational Well-Being Improves National Well-Being Improves DevelopmentFebruary 28, 2012Written by: Allan Brooks Advertisements FacebookTwitterWhatsAppEmail RelatedNational Well-Being Improvescenter_img RelatedNational Well-Being Improves Story HighlightsThe latest key indicators of national well-being: ‘health status; education status and labour force quality’ under the Vision 2030 Jamaica – National Development Plan’, has revealed that tertiary level enrolment for 2011 recorded a 3.1 per cent increase over the previous year.Meanwhile,thelabour force quality quarterly survey, showed a 2 per cent improvement, while immunization coverage for children showed a marginal decline over the previous year.This was outlined in the Planning Institute of Jamaica’s (PIOJ) recent Health Status Report. The latest key indicators of national well-being: ‘health status; education status and labour force quality’ under the Vision 2030 Jamaica – National Development Plan’, has revealed that tertiary level enrolment for 2011 recorded a 3.1 per cent increase over the previous year.Meanwhile,thelabour force quality quarterly survey, showed a 2 per cent improvement, while immunization coverage for children showed a marginal decline over the previous year.This was outlined in the Planning Institute of Jamaica’s (PIOJ) recent Health Status Report.“In Education, the gross enrolment rate of students at the tertiary level for the academic year 2010/2011 has increased to 35.9 per cent, based on preliminary figures, up by 3.1 percentage points compared to the academic year 2009/2010,” the report stated.The PIOJ attributed the significant increase in tertiary enrolment in a single year to “an increase in the access to and number of tertiary educational institutions and programmes in Jamaica.”With respect to the quality of the labour force, the report stated that “an average of 23.2 per cent of the total labour force having vocational or professional certification based on the quarterly labour force surveys for 2011, (achieving) an increase of 2.0 percentage points from the previous year.”With respect to the immunization coverage for children, the report stated that for children between zero and 11 months the immunization covering tuberculosis, polio, diphtheria, pertussis and tetanus respectively, declined slightly to an average of 93.9 per cent in 2011, based on preliminary figures. This is down 0.8 percentage point from an average of 94.7 per cent in 2010.The report added that the immunization coverage for children between 12 and 23 months for covering measles, mumps and rubella (MMR) also fell slightly to 86.5 per cent in 2011, down 0.6 percentage point from 87.1 per cent in 2010.last_img read more

Panalpina opens in Murmansk

first_imgLocated on the Cola Peninsula, in close proximity to Shtokman Gas Field Development, and being the major hub for international air and ocean traffic, Murmansk is the ideal location for Panalpina to develop its logistics infrastructure.The Shtokman Gas Field Development is the world’s largest natural gas field and since 1992 Sevmorneftegaz, a joint venture of Russian energy companies Gazprom and Rosneft, has been holding the licence to operate the field.The field is of strategic importance for Gazprom and will become a resource base for Russian pipeline gas as well as liquefied natural gas exports to the Atlantic Basin markets.As a major player in the Oil & Gas market, Panalpina will concentrate on provision of services to the leading international and Russian companies from its new office including seismic companies, drilling contractors, supply and support vessel operators, oilfield service and supply companies, engineering companies and offshore construction companies.”We are confident that with our strong market position in air and ocean freight combined with a focused approach to logistics and supply chain management solutions and extensive local knowledge, Panalpina will establish itself as the leading player in this strategic area,” says Stefan Karlen, managing director of Panalpina Russia.last_img read more

Eurotunnel wins protection from its creditors

first_imgHAVINGPOSTPONED a decision expected on July 25, the Tribunal de Commerce in Paris finally agreed on August 2 to grant Eurotunnel’s request made on July 11 for protection from holders of debt with a face value of £6·2bn. The Group, including 17 related entities, is now barred from paying interest or repaying debt for six months. The court can also extend the period of protection. On August 16 Standard & Poor’s downgraded £240m of senior bank loans to ’D’ (default) because interest due was withheld. But Eurotunnel is not insolvent. Results for the first half of 2006 show an operating margin of £161m, and it could have met all its obligations until January 2007 before running out of money. For now the court has appointed two judicial administrators who will try to secure agreement from the Group’s Joint Board and its quarrelling creditors on a restructuring plan that will reduce the debt to around £2·9bn. Eurotunnel believes this to be the highest level that can be serviced out of future operating profits.The basis for this restructuring is expected to be a plan tabled at 23.00 on July 12 by Eurotunnel’s Chairman & Chief Executive Jacques Gounon. Negotiations collapsed early on July 13 because the two creditor groups represented by the Ad Hoc Committee for middle-ranking debt and Deutsche Bank for the junior bondholders could not close the gap between them.Immediately after protection was announced, Eurotunnel claimed ’there is now a convergence of view amongst principal creditors’ that the July 12 proposal ’will lead to a reconciliation of their positions.’ Since then there has been silence.Meanwhile, Eurotunnel confirmed on July 27 that it had settled a long-running dispute with the railways over the share of its operating costs they are obliged to pay. While this is helpful, concern is mounting over the future of rail freight. After peaking at 3·14million tonnes in 1998 it is now barely half that, despite the fact that the British government is paying all of the UK’s share of the Minimum Usage Charge for freight which ends on November 30.The UK’s Rail Freight Group warned last month that ’in three months the current charging structure for rail freight through the Channel Tunnel stops and there is no indication as to what will replace it.’ While RFG believes ’nobody is expecting massive subsidies’, it deplores the absence of ’any talking or engagement, even by the European Commission; surely they have a duty to try and ensure that a Trans-European Network route does not close?’last_img read more