City faces a Brexit ‘nightmare’ unless a deal is done by Christmas, says new lord mayor

first_img The new lord mayor of London has said banks and insurers will face an “administrative nightmare” unless a Brexit deal is secured by Christmas.Former Barclays executive Peter Estlin told the Sunday Times that there was a “huge amount” of anxiety in the City despite recent suggestions that the Prime Minister was closing in on a deal. whatsapp Alexandra Rogers Earlier this month City minister John Glen said he was “extremely confident” the two sides would reach an “imminent deal” for the financial services sector, but his comments were downplayed by Treasury sources who said a deal was still being worked out.Estlin said: “It’s not done until the fat lady sings. If we don’t have real clarity by Christmas we have to work to protect consumers and households, particularly on this side of the Channel but also in Europe.”Figures released by the European Commission earlier this week predicted UK growth could drop to just 1.2 per cent next year, making it the slowest-growing EU member alongside Italy.The commission’s forecasts for 1.2 per cent GDP growth in the UK over the next two years differ from the Office for Budget Responsibility’s prediction of 1.6 per cent growth next year and 1.4 per cent growth in 2020. City faces a Brexit ‘nightmare’ unless a deal is done by Christmas, says new lord mayor More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Sunday 11 November 2018 12:45 pm whatsapp Share Tags: Brexitlast_img read more

Division 4 football glory for Portlaoise against Graiguecullen

first_img Previous articleManager Brennan heralds Laois fans as attentions turn to 2020Next articleWorld’s first plastic waste to wax plant opened in Portlaoise LaoisToday Reporter WhatsApp Division 4 football glory for Portlaoise against Graiguecullen Here are all of Wednesday’s Laois GAA results Home Sport GAA Division 4 football glory for Portlaoise against Graiguecullen SportGAAGaelic Football Facebook GAA Pinterest Colm Doran got the game’s first point for Graiguecullen but that would be the only time that they would lead.The sides did trade scores in the opening 20 minutes but Portlaoise got a run on Graiguecullen with points from Chris Lynch, Jack Fennell, Fearghal Fennell and David Finn to take a 0-10 to 0-4 lead at the break.Graiguecullen needed goals on the resumption of play to force their way back into the game and they were given the perfect opportunity when they were awarded a penalty.However, Portlaoise keeper John Hannify was equal to the task as he made a brilliant save from Peter Brannigan’s spit kick to keep him out.This spurred on Portlaoise and they finished the game with goals from Fennell and Moore to seal the win.Portlaoise now look towards the Junior ‘A’ championship, while Graiguecullen are out against O’Dempsey’s in the ‘C’ championship on Tuesday.SCORERS – PORTLAOISE: Fearghal Fennell 1-5 (0-1 free), Ian Moore 1-1, Jack Fennell 0-2, Thyge Ryan, Ben Conroy, Chris Lynch, Andrew Dowling, Jack Reddin, Liam McGovern, David Finn and Mikey Nerney 0-1 each GRAIGUECULLEN: Mark Doogue 0-3, Peter Branagan 0-2, Shane Aylward, Ian Bradley, Brian McDermott and Colm Doran 0-1 each.PORTLAOISE: John Hannify; Kevin Phelan, John Delaney, Brian Dunne; Eoin Rochford, Aidan McGovern, JP Seale; Chris Lynch, Mikey Nerney; Jack Reddin, Jack Fennell, Ben Conroy; Fearghal Fennell, Andrew Dowling, David Finn. Subs: Fintan Walsh, Liam McGovern, Kieran Drea, Niall Carey, Bryan Naughton, Ian Moore, Eoin Carey, Thyge Ryan, James Nerney, Gavin Fitzpatrick, Joey Delaney, Malachy McNulty, Brian GaynorGRAIGUECULLEN: Don Scully; Donal Hurley, Wayne Humphreys, Daithi Hurley; Kevin Smith, Liam O’Brien, Shane Aylward; Barry Regan, Ricky Lawler; Conor Hogan, Dale Byrne, Alan Byrne; Colm Doran, Peter Branagan, Mark Doogue. Subs: Brian McDermott, Ian Bradley, Conor Hayden, Stephen AlsyburyReferee: Eric Ward (Portarlington)SEE ALSO – Laois Ladies set to play All-Ireland championship match in O’Moore Park TAGSACFL Division 4Portlaoise RELATED ARTICLESMORE FROM AUTHOR By LaoisToday Reporter – 15th July 2019 center_img Twitter WhatsApp GAA Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory Twitter GAA Portlaoise ACFL Division 4 winners Portlaoise 2-16 Graiguecullen 0-9ACFL Division 4 FinalPortlaoise had 13 points to spare over Graiguecullen in the Division 4 football final on Saturday evening in Timahoe.This was a battle between the third string teams in each club and it was the first of three adult league finals that Portlaoise will compete in this year.Second half goals from Fearghal Fennell and Ian Moore did the trick for Portlaoise but in truth they were well on top by that stage. Facebook Pinterest 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

Deaths in Laois – Saturday, January 18, 2020

first_img Twitter Facebook Facebook Deaths in Laois – Saturday, January 18, 2020 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin TAGSDeaths in Laois Previous articleLocal mother opens up about her experience of first water birth of the year in LaoisNext articlePortlaoise Panto Group gearing up for their 36th performance LaoisToday Reporter Pinterest GAA By LaoisToday Reporter – 18th January 2020 Twitter News Pinterest Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Electric Picnic Home Deaths Deaths in Laois – Saturday, January 18, 2020 Deaths WhatsApp WhatsApp Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Below are the recent deaths in Laois.Ar Dheis De go raibh a anam.William HughesOaklawn, Portlaoise, Laois / Johnstown, KilkennyHughes, Oaklawn, Portlaoise and late of Johnstown, Co. Kilkenny. William, beloved husband of recently deceased wife Ann and dearly loved mum to Karen, Jane, Annette and Niall. Cherished grandfather to his ten grandchildren. Deeply regretted by her loving family, sisters Pam O Sioráin, Elma Corcoran and Eileen Way, sons in law Simon, David and Andrew, daughter in law Jacinta, nephews, nieces, relatives and friends.Reposing at Keegans funeral home from 5pm on Sunday evening with rosary at 6pm. Requiem Mass at 12 noon in St Kieran’s Church, Johnstown, on Monday morning, followed by interment in Johnstown Cemetery.Patricia (Pat) KELLY (née Grehan)Clonskeagh, Dublin / Mountmellick, LaoisKELLY (née Grehan) Patricia (Pat) (Clonskea and formerly of Mountmellick, Co. Laois) January 15, 2020 – in her 103rd year, peacefully, in the loving care of the Staff of St. Michael’s Ward, St. Vincent’s University Hospital, Elm Park, and in particular, geriatrician, Dr. O’Shea and his colleagues. Pre-deceased by her husband Eddie and her grandson Garrett. Very deeply regretted by her daughter Cepta, son Michael, daughter-in-law Mary, grandchildren Aisling, Síofra, Etáin and Olwen, her great-grandsons Garrett and Vince (California), nephews, nieces, cousins, her extended family, loyal neighbours, friends and her wonderful carers.Reposing at Rom Massey & Sons Funeral Home, 6 Cranford Centre, Stillorgan Road, Dublin 4, D04 X446 (opposite U.C.D. flyover) on Saturday evening, January 18, from 6pm to 8pm. Funeral Mass on Monday, January 20, at 10am at the Church of St. Thérèse, Mount Merrion. Burial afterwards at Mount Jerome Cemetery. Family flowers only, please. Donations, if desired, to a charity of your choice.Paddy (Patrick) RankinKiloughan, Stradbally, LaoisPaddy (Patrick) Rankin, Kiloughan, Stradbally, Co. Laoise, suddenly, at his home on 15th January 2020. Predeceased by his parents George and May, brothers, Jimmy and Sean.Sadly missed and fondly remembered by his sister Carmel and his brother George, sister-in-law, nieces, nephews, extended family, neighbours and friends.Reposing at his nephew, Brian and Nora’s home at Loughteague. (R32NC59) from 3pm on Saturday with recital of the Rosary at 8pm. Removal on Sunday morning at 9.30am to arrive at The Holy Cross Church, Ratheniska, for 10am Requiem Mass, interment to follow in S.S. Peter and Paul’s Cemetery, Portlaoise.Michael (Mickey) WhelanBallyhegadon, Donaghmore, LaoisMichael (Mickey) Whelan, Ballyhegadon, Donaghmore, Co. Laois. Ex Donaghmore Creamery. January 16th 2020. Peacefully at Portlaoise Regional Hospital. Predeceased by his sister Noreen. Deeply regretted by his sisters Mary and Patricia, his brother Joe, nephews, nieces and a wide circle of friends.Reposing at O’Sullivan’s Funeral Home, Rathdowney on Friday evening from 3pm with rosary at 8pm. Funeral Mass on Saturday at 11am in The Church of The Holy Trinity, Rathdowney followed by burial in Killasmeestia Cemetery.Tom LodgeRathmoyle, Abbeyleix, LaoisPeacefully in the care of the Regional Hospital Portlaoise. Deeply regretted by his loving sisters Ann (Crowe), Norrie (Roach), Betty (O’Brien) and Jean (Behan), brothers-in-law, sisters-in-law, nephews, nieces, relatives and friends.Reposing at the Chapel of Adoration, adjoining The Church Of The Most Holy Rosary, Abbeyleix, on Thursday from 5pm, with Rosary at 7.30pm. Removal to The Church Of The Most Holy Rosary, Abbeyleix, for 11am Requiem Mass on Friday. Burial afterwards in the adjoining cemetery.REST IN PEACENancy Mc Menamin (née Lalor)Redhill, Ballyroan, LaoisBeloved wife of John and devoted mother to Mairead and Eamon , cherished grandmother to Jaye, Charlie, Lee, Ellie, Ronan and Noah. Sadly missed by Richard and Patricia, sisters-in-Iaw Mena and Susan, brothers-in-law Eddie and Michael, her much loved nieces, nephews, neighbours and a wide circle of friends.Reposing at her daughter Mairead home in Ballinlough Ballyroan from 3pm. on Thursday and Friday with prayers at 7.30 pmon both evenings. Removal to St. Patrick’s Church, Ballyroan on Saturday morning for 12 noon Requiem Mass. Burial afterwards in St. Patricks Cemetery.House private on Saturday morning by request.Rest in peace.Brigid (Bridie) DoodyRidge Rd, Portlaoise, LaoisIn her 95th year. Much loved aunt of Audrey, George, Jean, Paddy, Ger, Ena, Billy and Mary. Deeply regretted by her loving family ,cusions, extended family, relatives and a large circle of wonderful friends and neighbours.May She Rest In PeaceReposing at her home on Thursday from 12:00 noon with rosary recital at 8:00pm. Removal on Friday at 9:30am to arrive at SS Peter & Paul’s Church for 10:00am Requiem Mass. Interment afterwards in SS Peter & Paul’s Cemetery.Michael J NolanWicklow Town, Wicklow / Portlaoise, LaoisMichael J. Nolan of Wicklow Town, formerly of Nolan’s Shoe Shop and Portlaoise who passed away Sunday, 12th January, 2020 in his 90th year, peacefully in the care of Blainroe Lodge Nursing Home. Beloved husband of the late Pauline. He will be sadly missed by his sons Tony and Niall, daughters Corinna and Vivienne, brothers Jim and Bob, sister Rita, daughters in law Rose and Pauline, sons in law Paul and Keith, grandchildren, extended family and friends.Michael will repose at Flannery’s Funeral Home, Bachelors Walk, in Wicklow Town, from 6pm until 8pm on Tuesday, January 14th. Funeral Mass in St Patrick’s Church, Wicklow Town on Wednesday morning, January 15th, at 10am followed by interment in Rathnew Cemetery.Mae (Mary) Holohan (née Jones)Sarto Road, Naas, Kildare / Portlaoise, LaoisFormerly of Grattan Street, Portlaoise, Co. Laois. Surrounded by her loving family in the kind and gentle care of the staff of Ashley Lodge private nursing home. Beloved wife of the late Paddy and mother of Mary (Conway), Evelyn (O’Sullivan), Noel, Geraldine (Burke), Patrick and Ken (Kenneth). Deeply missed and remembered by her loving family, daughters-in-law, sons-in-law, grandchildren, great-grandchildren, cousins, nephews, niece, relatives, neighbours and all who knew and loved her.Reposing at the George Mullins Funeral Home, Kilcullen Road, Naas on Tuesday from 5pm with Prayers at 7pm. Removal on Wednesday at 9.20am to arrive at the Church of the Irish Martyrs, Ballycane, Naas for Funeral Mass at 10am followed by Burial in St. Corban’s Cemetery, Naas.SEE ALSO – Deaths in Laois – Friday, January 17, 2020 RELATED ARTICLESMORE FROM AUTHORlast_img read more

Laois set to back Jim Bolger in GAA Presidential election at Congress

first_img Twitter Pinterest Laois set to back Jim Bolger in GAA Presidential election at Congress WhatsApp News Facebook Twitter Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role TAGSGAA PresidentJim Bolger Electric Picnic organisers release statement following confirmation of new festival date By LaoisToday Reporter – 28th February 2020 Pinterest Previous articleLaois man awarded Young Volunteer of the Year by the Ladies Association in Croke ParkNext articleWATCH: Laois Transition Year students team up with nursing home for Buddy Project LaoisToday Reporter Home Sport GAA Laois set to back Jim Bolger in GAA Presidential election at Congress SportGAA RELATED ARTICLESMORE FROM AUTHOR Facebook Laois GAA Congress delegates will vote for Carlow native Jim Bolger in the Presidential election this weekend.There are five candidates in the hunt to succeed John Horan – Jim Bolger (Carlow), Jarlath Burns (Armagh), Larry McCarthy (Sligo/New York), Jerry O’Sullivan (Cork) and Mick Rock (Roscommon).The winner will serve as the 40th GAA President and will occupy the role from 2021 to 2024.Bolger is very well known in Laois as he works as a Health and Safety Adviser for Laois County Council.Although a native of Carlow, Jim lives in Killeshin where his two sons, Shane and Ross play football.Shane is currently a member of Mike Quirke’s Laois senior football squad while Ross made appearances from the bench for the Laois U-20s in recent wins against Westmeath and Kildare last week.A member of GAA Management committee, Bolger is also the outgoing Leinster GAA chairman.Bolger was born in Hackettstown in Carlow and is a member of the Clonmore club.A former inter-county player and selector with Carlow, Bolger was elected Leinster GAA chairman in January 2017, replacing John Horan, and has served in the role since then.He previously filled the roles of treasurer and vice-chairman in the Leinster Council.His deputy, Offaly’s Pat Teehan, was elected as his successor last month.Speaking to RTE News ahead of this weekend’s Congress, Bolger says that costing and governance are top of his agenda.He said: “The objective is to ensure that our volunteers can think more strategically and not be preoccupied with fund-raising and the challenges around fund-raising and keeping teams going.“We know the cost of running inter-county teams, which is astronomical really, and I think it’s not sustainable from my perspective.“And from the GAA’s perspective, it’s definitely not sustainable to fund inter-county teams to the levels we are at present.”However, he is the current outsider in the field with odds of 20/1.Armagh’s Jarlath Burns in the favourites at 8/11 while Mick Rock (5/2), Larry McCarthy (3/1) and Jerry O’Sullivan (14/1) are also ahead of Bolger in the betting.SEE ALSO – Local forecasters predict ‘Storm Jorge’ to hit at weekend Electric Picnic WhatsApp Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Electric Picnic last_img read more

North Korea requires assistance to improve agricultural infrastructure

first_img RELATED ARTICLESMORE FROM AUTHOR SHARE Analysis & Opinion AvatarJo Hyon, PhD, Kyungnam University Tracking the “unidentified yellow substance” being dried out near the Yongbyon Nuclear Center Facebook Twitter Analysis & Opinion Analysis & Opinion center_img Is Nuclear Peace with North Korea Possible? Analysis & Opinion Farmers on the Chilgol Vegetable Farm in Mangyongdae District, Pyongyang. Image: Yonhap News AgencyThe expected harvest from the Paeksong Farm in Pyongsog, a major barley producing region, is only expected to reach half of the state-set agricultural yields. Although the state-set yields are always higher than the actual harvest, the state still takes away its set amount as the compulsory recipient of 30% of whatever is harvested. Paeksong Farm is not the only farm in the region in dire straits: 13 other local farms are in difficulties as well. The People’s Committee and farmers business committee members decided on the expected crop yields for a second time in late October, but the harvests did not even meet the first expected harvest yields that were decided upon. Agricultural officials were criticized in early September for having reported harvest estimates that were too low, which led the local Party apparatus, People’s Committee and even the prosecutor’s office to readjust the yield estimates. The readjustment, however, only led to an even lower yield estimate than the first. The process of deciding on expected harvest amounts is a regular policy process in North Korea’s farming communities during the fall harvest season. There has been, however, some changes that are worth mentioning. In the 1970s and 1980s, agricultural officials inflated their expected harvest amounts in an attempt to gain praise from the central government. In the 1990s, however, the entire situation on the ground changed. In accordance with the state’s plans to purchase the harvest (whose estimates had been inflated) most of the harvest was used for the military, so farmers took the grain seeds that remained for themselves. Moreover, there was a halt in the supply of manure, pesticides, spare parts for farm equipment, plastic film and other supplies required for agriculture, so the farmers had to sell their harvested rice in the markets to pay for farming materials. This created a situation where the authorities tried to create as low estimates of the harvest yields as possible so that the central government would not take as much. This year, the authorities expected that the harvest would be lower than in the past years and predicted as a result that grain prices would increase, so they are now trying to obtain as much of the fall harvest for use during the winter as possible. Some farmers are even trying to obtain potatoes through private business as they continue their own harvesting in the fields. Kim Il Sung said during a Workers’ Party of Korea (WPK) general plenary in 1976 that “We can become rich if we produce 10 million tons of grains. Honestly speaking, even 5 million tons of grains would be more than enough for us to live. If we produce 10 million tons of grains then the entire population can eat their fill and we can save a lot of food.” However, during the Kim Jong Il era, the amount of grain harvested fell to 2 million tons before recovering gradually. The Food and Agricultural Organization of the United Nations (FAO) estimated last year that North Korea’s total grain production was 5.15 million tons. It thus appears that Kim Jong Un’s move to reduce the size of farm work units (pojon tamdangjae) has had some effect. North Korea has a total agricultural area of 1.91 million jongbo (approx 18.9 million square meters). So what is the most fundamental issue the country is facing? The issues are the poor state of the agricultural infrastructure and the inflexibility of the existing agricultural management methods.North Korean agriculture is based on the socialist collective management system. Ownership is possessed by the collective, but there is no autonomy permitted amongst the farmers because agricultural management runs through collective farm business committees. In other words, agriculture in North Korea is managed through unilateral orders and control in accordance with state plans. The implementation of the “vegetable garden responsibility system” has created some change in this management structure, but this new policy has not led to a shift towards a management structure where the autonomy of the farmers has been properly guaranteed. The policy has led to some changes in the production structure, but the agriculture system is still led and controlled by the state through collective farms. Farmers are treated as little less than robotic units of labor. North Korea’s agricultural infrastructure is in a poor state of affairs and needs to be reformed. The poor state of infrastructure has made farms vulnerable to natural disasters and inefficiencies. The state authorities need to work on creating an infrastructure that allows proper cultivation of farmland, steady access to water for farm use, and efforts to address erosion. A comprehensive agricultural policy for economic development must be implemented. North Korea, however, doesn’t have the technology or money to do this itself. It will need support from the international community and South Korea. North Korea’s regions need to implement a comprehensive development support project that links together agriculture and livestock, reforestation, health with nutrition, residence with public welfare, and energy and infrastructure. This plan would allow the regions to manage the storage, manufacture, distribution and sale of agricultural products while encouraging them to make decisions on production goals dependent on market demand. In tandem, a highly-efficient agricultural production “base” would be constructed on the basis of a “ringed circulatory production system” that takes advantage of the complex management of agriculture, livestock and forests and other natural resources. The provision of the technology, materials and food required to meet success in the early stages, along with the implementation of an autonomous management responsibility system later on would guarantee the stable production of food. Inter-Korean cooperation and exchanges in the areas of agriculture and livestock would allow North Korea to become the site of an experiment to intensify economic growth on the Korean Peninsula, and would play a comprehensive role in developing local economies. It would also be important to implement a program in each region, rather than on a national scale, to invigorate the development of agriculture, livestock, forests and fishing. Short-term humanitarian needs in North Korea must be met by South Korea at all times, but the strengthening of North Korea’s ability to develop its farmland is the most fundamental way to improve the country’s economic situation. It would also be the best long-term strategy to eradicate North Korea’s poor food situation and ensure quality of life. Fundamentally resolving North Korea’s “right-to-life” issues in its farming regions is the most important way to improve human rights in the country.*The author is originally from North Korea. By Jo Hyon, PhD, Kyungnam University – 2018.11.08 2:45pm North Korea requires assistance to improve agricultural infrastructure Pence Cartoon: “KOR-US Karaoke”last_img read more

OSFI seeks comment on draft LICAT guideline

first_img OSFI issues revised guideline for insurance companies’ securitization exposures Share this article and your comments with peers on social media Advocis takes stand against new Saskatchewan tax on life insurance James Langton Related news OSFI previews new capital rules for seg fund risk Keywords Life insurance industryCompanies Office of the Superintendent of Financial Institutions Facebook LinkedIn Twitter Federal financial regulators are proposing to introduce the first wholly new capital model for the life insurance sector in the past 25 years. The Office of the Superintendent of Financial Institutions (OSFI) on Thursday released for comment a draft new capital adequacy guideline for federally regulated life insurance companies. The Life Insurance Capital Adequacy Test (LICAT) guideline will replace the existing life insurance capital test, known as the Minimum Continuing Capital and Surplus Requirements (MCCSR) guideline, which was introduced in 1992. OSFI developed the LICAT “to better align capital and risk measures with the economic realities of the life insurance business,” the regulator says in a statement. The regulator indicates that it doesn’t expect the new model to increase the overall amount of capital that firms must hold, but that certain businesses may require more capital under the new model, which will likely cause insurers to re-evaluate their business lineups. The proposed new model, which OSFI aims to adopt in 2018, “takes into account lessons learned from the financial crisis, recent developments in financial reporting standards, actuarial standards, economic and financial practice, and international trends in solvency frameworks,” OSFI adds. It was developed in consultation with the industry, Quebec’s Autorité des marchés financiers (AMF), and Assuris, the industry contingency fund. “The LICAT guideline represents an evolution in OSFI’s regulatory capital expectations,” says Deputy Superintendent Mark Zelmer, in a statement. “It is consistent with OSFI’s mandate to protect policyholders and other creditors while allowing life insurers to compete and take reasonable risks.” The LICAT guideline introduces material changes from the existing MCCSR guideline, OSFI explains, and that the capital ratios established under the new model will behave differently than in the MCCSR. For example, some available capital components are of higher quality in the new LICAT guideline compared to the MCCSR approach, items that are subject to write-downs during periods of stress have been re-evaluated, and the base solvency buffer aims to be more sensitive to elements of credit, market, insurance and operational risks, OSFI says. Other major changes include a new charge for interest rate risk; a new credit for risk diversification; and, the introduction of a solvency ratio, set at 100%, instead of a capital ratio, set at 150%. Comments on the draft guideline are due by May 9. Photo copyright: miluxian/123RF OSFI proposing revisions to insurers’ capital ruleslast_img read more

E-Learning Project Enhancing Educational Environment at DeCarteret College

first_imgRelatedE-Learning Project Enhancing Educational Environment at DeCarteret College RelatedE-Learning Project Enhancing Educational Environment at DeCarteret College RelatedE-Learning Project Enhancing Educational Environment at DeCarteret College E-Learning Project Enhancing Educational Environment at DeCarteret College EducationMarch 3, 2009center_img FacebookTwitterWhatsAppEmail The e-Learning Jamaica Project has been enhancing the educational environment at deCartertet College in Mandeville, Manchester.Speaking with JIS News on Monday (March 2), e-learning coordinator at the school, Hans Stevens, said that under the project, the school was given 15 laptops, document cameras, scanners, television sets, camcorders, 70 personal computers equipped with CD-ROM drives and flat screen monitors.“Currently at deCarteret College, we have 70 PC computers equipped with CD-ROM drives and flat screen monitors, and they are networked to one server. These 70 machines spread across two labs, one with 41 machines and the other with 29 machines,” he said.He added that the computer labs have also been equipped with air conditioning units and that, under the project, furniture for the labs are to be provided.Mr. Stevens said that the use of the equipment during lesson delivery has heightened students’ interest in learning, and has also made lesson preparation much easier for teachers.“The teachers and the students are enjoying using the equipment. The attendance seems much more on the students’ part, because they seem very, very interested in having the equipment in the classroom to enhance their learning. The teachers find it more convenient to use the equipment in the classroom to enhance the handling of their lessons,” he said.There are two sets of training going on: e-learning is training the teachers in ICT (Information and Communication Technology) so that they can deliver effectively and efficiently in the classroom using the equipment; others are receiving systems administration training, to be able to manage and manipulate the equipment at the school.Head of the Mathematics Department, Marlon Britton, who is also a systems administrator, said that as part of the e-learning training, they are taught to train other staff members how to use the equipment properly. Many teachers are now able to handle and care the equipment, with relative ease.The e-Learning Jamaica Project is a collaboration between the Ministry of Education and the Ministry of Telecommunications and Mining, to implement and utilise information and communication technologies (ICTs) in grades 7-11 of the approximately 165 high schools in Jamaica. This will help, to enhance the teaching/learning process and improve the level of passes in the school-leaving examinations. Advertisementslast_img read more

UK firm secures Urban Outfitters relationship with UKEF support

first_imgUK firm secures Urban Outfitters relationship with UKEF support About the transaction: Rustin and MalloryRegionWorcestershireSectorFashionExport locationUSAUKEF supportExport Insurance PolicySelling vintage and printed women’s fashion, Rustin and Mallory are an experienced exporter selling wholesale to customers in the USA, Europe and Australia as well as retail sales through their website.Since the start of 2020, their exporting business has soared. 35% of their profits now come from overseas, up from 15% at the start of the year, enabling them to double their staff numbers at their warehouse in Bromsgrove, Worcestershire.Their biggest overseas customer is Urban Outfitters, who have been clients for 15 years. However, financial uncertainty caused by the COVID-19 pandemic caused them to lose insurance cover, putting this longstanding relationship at risk.Thankfully, their financial provider Bibby Financial Services put them in touch with UK Export Finance (UKEF), the UK’s export credit agency, who were able to quickly provide the required insurance to enable Rustin and Mallory to keep trading.Harvey Morrison, Financial Controller at Rustin and Mallory, said:Without UK Export Finance’s help we could have lost one of most important customers.UKEF was extremely supportive and obtaining the insurance policy from them was quick and easy. Now we can keep selling to Urban Outfitters, supplying British fashion to the US market.Phill Potter, Senior UKEF Export Finance Manager, added:The COVID-19 pandemic has seen demand for our export insurance policy triple, as UK companies look to continue trading overseas. UKEF is here to support exporters like Rustin and Mallory to win overseas contracts, fulfil orders and get paid through these difficult times.Get the Exporters’ EdgePutting the right finance and insurance in place can give you the exporting edge, helping you to win contracts, fulfil orders and get paid.Tell us about your business(Photo by Mike Mozart on Flickr. Used under Creative Commons). /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, British, business, covid-19, Europe, Export, finance, financial services, Government, insurance, market, Morrison, U.S., UK, UK Government, website, wholesalelast_img read more

Flooding assistance left Houston residents on uneven ground

first_img Published: March 3, 2020 • By Kelsey Simpkins Flood insurance, FEMA assistance, and access to low-interest loans are all part of disaster recovery, but there are restrictions on who can receive disaster funds and loans, how they can be used, and complicated paperwork to boot. This could be part of why lower-income residents struggled more significantly after Hurricane Harvey.   This is the first study of its kind to test for inequalities in access to FEMA grants. Previous studies from Hurricane Katrina, which hit New Orleans in 2005, found that financial effects from hurricane flooding are mild and temporary – but these results clashed with anecdotal news reports which chronicled financial devastation for some residents.The researchers wanted to know, could that also be true for Hurricane Harvey?  So they broke down the data from Hurricane Harvey, comparing multiple variables, including insurance coverage, home values, income, and location.  “When we started breaking things down along these lines, we saw there are actually massive effects on certain groups of people,” while other groups remain unscathed, said Gallagher. Inequalities in assistance  Hurricane Harvey hit Houston in late August 2017 as a Category 4 storm, during one of the five worst hurricane seasons since 1960. Over the course of a week it dumped 51.88 inches on the Houston metropolitan area and submerged over a quarter of the city, causing $125 billion in damages—second only to Katrina. But because 80% of flooding in Houston wasn’t within its mapped 100-year floodplain – and homeowners are only required to have flood insurance if their property falls within this boundary—only 17% of homes affected were covered by insurance. Fewer than 90,000 Texans made claims after the storm in a city of 2.3 million. After flood insurance, there are two main assistance options for victims of flooding. Federal Emergency Management Association (FEMA) assistance and low-interest disaster loans from the Small Business Administration (SBA). FEMA assistance is meant to be based on your disaster-related losses, and the researchers didn’t expect to find any inequalities in access to FEMA assistance. Yet while an average of 29% of housing units on flooded blocks registered, they found that 80% were denied or not eligible for FEMA assistance. When the damage exceeds 50% of a home’s value, you’re supposed to participate in a buyout program or sell it, instead of do repairs. The cheaper your house is, the more likely this is to happen. FEMA money is also earmarked for certain things. If you spend rental funds instead on transit, for example, you may be denied future assistance or be asked to return all funds, according to Gallagher. Finally, paperwork issues that require legal aid are huge hurdles for some residents, preventing a resident from receiving assistance – even if they qualify for it. The Small Business Administration also offers low-interest disaster loans that can be used to repair and replace property, homes and businesses. Eligibility, however, is based on one’s credit score and ability to repay, which were the most common reason loans were denied.  Houston homeowners who were struggling financially before Hurricane Harvey were the most likely residents to end up in a worse financial position after the storm, suggests a new study by researchers from the Leeds School of Business at CU Boulder. While doing a deep dive into the financial data around Houston residents’ recovery, they found inequalities for lower-income residents in access to federal disaster assistance and loans, and a significant rise in their bankruptcy rates.In the six months after the hurricane, they found a 30% increase in bankruptcy rates and a 35% bump in the share of household debt that is delinquent among financially fragile homeowners who flooded, but lived in areas that were not expected to. This was not the case for many other residents, including renters, and homeowners who were financially secure prior to the storm. Residents in lower-income neighborhoods also commonly received less disaster assistance, even if they qualified for it.  “The more we dug into things, the more we realized that the wealthier you are, the more assistance you’re getting. You’re more likely to have insurance—and come out of the storm seemingly doing just fine. Compared to this other group of people that seems to really need help,” said Emily Gallagher, co-author of the paper and assistant professor in the Leeds School of Business.“In allocating a limited pool of resources, the way we’re handing it out seems to be distorted.” Policy implications Some Houston residents, mainly renters and homeowners who were financially well-off prior to the storm, actually benefited in some ways—either from the disaster assistance money or being able to refinance their mortgage. “While you have a lot of pain happening among certain groups, some groups actually benefit from these storms,” said Gallagher. “That surprised me.”Present policy responses are therefore not mitigating the burden of natural disasters on financially fragile households, and unless addressed, this will continue to be an issue in areas affected by natural disasters in the future. The researchers recommend that policymakers consider: making insurance premiums more affordable for low-income households; improving the accuracy of floodplain maps; addressing price discrimination for SBA loans; loosening restrictions on the use of FEMA funds, and expanding buyout programs.Additional co-authors of this study include Stephen B. Billings of the Leeds School of Business at CU Boulder and Lowell Ricketts of the Federal Reserve Banks of St. Louis. Categories:Business & EntrepreneurshipHealth & SocietyNews Headlines A Marine, a member of the Texas Highway Patrol and Texas State Guard escort a couple to higher ground, Houston, Texas, Aug. 31, 2017. (Credit: U.S. Department of Agriculture)  Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail U.S. Customs and Border Protection, Air and Marine Operations along with multiple other agencies and good citizens provide support to communities impacted by Hurricane Harvey in Beaumont, Texas on August 30, 2017. (Credit: U.S. Customs and Border Protection)  A house in Houston shows visible damage after flooding. (Credit: Getty Images)last_img read more

$39.8 Million Allocated for ‘T21’ National Development Plan

first_imgA total of $39.8 million has been allocated to the Planning Model Development and National Development Plan ‘T21’ in the 2013/2014 Estimates of Expenditure.The project, which is being implemented by the Planning Institute of Jamaica (PSOJ), seeks to prepare a long-term National Development Plan, along with 31 sector plans, which would result in Jamaica achieving developed country status by 2030.Other objectives include the development of a Medium Term Social Economic Policy Framework (MTF) for period 2009 to 2012; develop a planning model, which is responsive to the changing structure of the economy; and establish a framework for the implementation, monitoring, evaluation and communication of the National Development Plan.As at February 2013, 30 sector plans were completed in collaboration with task force groups; National Development Plan and MTF completed and tabled in Parliament followed by widespread distribution of both documents to stakeholders; while a Cabinet submission was prepared for approval of the plan and Ministry Paper submitted to Parliament.In addition, public consultations were conducted across the island; presentations made to public and private sector bodies, trade unions, civil society groups, and to the Opposition.Other achievements include: upgrading of the Vision 2030 Jamaica website; 47,000 copies of the popular version of the National Development Plan were printed and 26,000 copies distributed islandwide; completion of four quarterly progress reports and finalisation of two-year progress report; while 10 of 18 Thematic Working Groups (TWGs) were established to monitor and evaluate implementation of the plan.Anticipated targets for the 2013/2014 fiscal year include: printing and dissemination of three-year Vision 2030 Jamaica report; widespread distribution of MTF to stakeholders; to establish and support operation of Technical Monitoring Committee (TMC); and printing and dissemination of new MTF for 2012/2013 to 2014/2015.The project is being funded by the Government of Jamaica and the Caribbean Development Bank (CDB). It began in February 2006 and is scheduled to be completed by December 2014.The House of Representatives is to consider the Estimates of Expenditure beginning on Tuesday, April 9. RelatedNo Let Up in NHT Housing Provisions $39.8 Million Allocated for ‘T21’ National Development Plan InformationApril 9, 2013Written by: Latonya Linton Story HighlightsA total of $39.8 million has been allocated to the Planning Model Development and National Development Plan ‘T21’ in the 2013/2014 Estimates of Expenditure.The project, which is being implemented by the Planning Institute of Jamaica (PSOJ), seeks to prepare a long-term National Development Plan, along with 31 sector plans, which would result in Jamaica achieving developed country status by 2030.Other objectives include the development of a Medium Term Social Economic Policy Framework (MTF) for period 2009 to 2012; develop a planning model, which is responsive to the changing structure of the economy; and establish a framework for the implementation, monitoring, evaluation and communication of the National Development Plan. FacebookTwitterWhatsAppEmail center_img RelatedArchives Critical to Jamaica’s History RelatedJIS Jamaica 50 Photo Album Wins International Award Advertisementslast_img read more