RelatedIMF Agreement No Panacea – PM Golding RelatedIMF Agreement No Panacea – PM Golding IMF Agreement No Panacea – PM Golding Finance & Public ServiceDecember 13, 2009 RelatedIMF Agreement No Panacea – PM Golding Advertisements FacebookTwitterWhatsAppEmail Prime Minister, the Hon. Bruce Golding, has said that the pending International Monetary Fund (IMF) agreement, will not be a panacea for Jamaica’s economic problems.Giving the main address at the 10th anniversary celebrations of Mega Mart Stores, held at Catherine Hall, Montego Bay, St. James, on December 12, Mr. Golding explained that there is at present a shortfall in Government revenues, which cannot be covered by the IMF loan agreement.“When the IMF agreement is concluded, there are some people who make the mistake of believing that this is some panacea, that this will solve the problem, that there will be a lot of money flowing in. We are seeking to get US$1.2 billion, and it is not a panacea. That US$1.2 billion is going to stop at the Bank of Jamaica, not one penny of that is going to go to the Ministry of Finance, that’s the nature of IMF arrangements,” the Prime Minister said, pointing out that the money cannot be used for budgetary support, it is for balance of payment support.Prime Minister, the Hon. Bruce Golding (second left), with Chairman of the Sandals Group, Mr. Gordon ‘Butch’ Stewart (left); Chairman and Chief Executive Officer of Mega Mart Wholesale Club, Mr. Gassan Azan, (second right), and Minister of Industry, Investment and Commerce, Hon. Karl Samuda (right), at the 10th Anniversary celebrations of Mega Mart Stores, at Catherine Hall, Montego Bay, St. James, on December 12.He argued that the IMF support is critical to the day-to-day operations within the country, as it is filling the gap that has been left by the shortfall in foreign exchange earnings being experienced by the country.“Those funds are being provided to enable us to pay for the oil that we import, to pay for the medicines that we import, to pay for the raw materials that our manufacturers need, because the funds that we normally use to pay for those things are no longer flowing in the way that they used to flow,” he noted.The Prime Minister identified Bauxite and Remittances as areas in which the country has lost over US$800 million in foreign exchange inflows.Turning to the revenue side of the economy, Mr. Golding pointed out that the IMF loan will not be replacing any losses incurred, and that the problems presented by revenue shortages will have to be dealt with through measures put forward by the Government.Prime Minister, the Hon. Bruce Golding (second right), is greeted by a member of staff of Mega Mart Wholesale Store, as he tours the establishment, which is located in Catherine Hall, Montego Bay, St. James, on December 12. Occasion was the 10th Anniversary celebrations of the store.He outlined that despite efforts by the Government to cut its expenditure by approximately $7 billion, Government revenues at the end of October were running at some $18 billion below projections. This, he said, worked out at an average of approximately $2.5 billion per month within the fiscal year.“We have sought to address this problem by tightening up on expenditure,” he said, adding that there have been numerous appeals for funds, to which the Government has not been able to respond because of the revenue shortfall.He pointed out that the IMF is insistent that the country must show its ability to deal with its revenue problems before the loan agreement is signed.Prime Minister, the Hon. Bruce Golding (right), examines an item as he tours the Mega Mart Wholesale Store, located in Catherine Hall, Montego Bay, St. James, on December 12. Occasion was the 10th Anniversary celebrations of the store. To the Prime Minister’s right is Chairman of Mega mart, Mr. Gassan AzanThe Prime Minister said the delay in signing the IMF agreement is due mainly to two factors, “the effort that we have had to make, the work that we have had to do to configure a programme that satisfies that particular requirement; and secondly, the care that we have had to take to make sure that we are not signing an agreement simply to satisfy IMF conditionalities. We must be looking at what is necessary to put our house in order.”Mr. Golding emphasised that unless the country’s housekeeping is put in order, there will not be any possibility of an economic environment to encourage investments.
Star Files Aaron Tveit in ‘BrainDead'(Photo: Michael Parmelee/CBS) View Comments Brace yourselves, Tveiter-tots. According to TV Line, the Aaron Tveit-led BrainDead has been canceled by CBS and will not be returning for a second season.The D.C.-set series about politics and extraterrestrials, which also starred Tony winner Nikki M. James and featured Megan Hilty and Beth Malone, premiered over the summer to an underwhelming 4.6 million viewers and a 0.7 demo rating. After a month of broadcasting on Mondays, the show got moved to Sunday nights and by the end of its run was struggling to garner 2 million viewers and a 0.3 demo rating.Will your Broadway boyfriend come back to, well, Broadway? They still haven’t announced who’s playing Chris in Miss Saigon… Aaron Tveit read more
Scorpio Bulkers completed a private placement of 33,400,000 new ordinary shares of $0.01 par value at a subscription price of NOK 53.50, raising approximately $300 million in gross proceeds (the Private Placement). The proceeds from the Private Placement will be used to partly finance construction of a series of fuel efficient dry bulk vessels and for general corporate purposes.The Company recently reached agreements with ChengXi Shipyard CO. Ltd. (ChengXi), Dalian COSCO KHI Ship Engineering Co. Ltd. (DACKS), and Nantong COSCO KHI Ship Engineering Co. Ltd. (NACKS) for the construction of a minimum of 11 and up to 14 dry bulk vessels for approximately $27 million each.The vessels range from 61,000 to 64,000 DWT (Ultramax vessels) designed for the carriage of dry bulk commodities. Of the first 11 vessels, 2 will be delivered in the first quarter of 2015, 1 in the second quarter of 2015, 5 in the third quarter of 2015, 2 in the fourth quarter of 2015, and 1 in the first quarter of 2016.RS Platou Markets AS acted as Sole Manager in the Private Placement.[mappress]Source: scorpiobulkers, September 25, 2013 read more
I am disappointed to read of the Legal Services Policy Institute’s suggestion that training contracts be scrapped and that students qualify immediately upon completion of the LPC (see  Gazette, 24 September, 1). I am sure all solicitors presently practising, whether as long in the tooth as me, or more recently qualified, will agree that the training period in practice is the most valuable part of the qualification process. Theory is all very well, even when the LPC is as practical as it now is, but it cannot fully prepare you for life at the coal face. In these days of focus on risk, and the pressures upon the PII of many firms, this would be a retrograde step for the profession and the public. The suggestion that less qualification is needed for reserved work, such as advocacy, than for unreserved transactional and employment advice work, cannot be universally true. We should be careful to guard the quality and consistency that the code and professional pride should protect. Frances Coulson, Managing partner, Moon Beever Solicitors, London read more
Ballybacon Grange are into the Munster Junior A Hurling Semi Final.It’s after they claimed victory over Kenmare GAA this afternoon.Full time 5-24 to 1-04 Photo © Tipp FM
UKGC hails ‘delivered efficiencies’ of its revamped licence maintenance service August 20, 2020 UKGC launches fourth National Lottery licence competition August 28, 2020 StumbleUpon Related Articles Speaking on the Health Service Journal‘s ‘The Bedpan’ interview series, Bill Moyes, Chair of the UK Gambling Commission (UKGC) has warned NHS leadership of side-lining problem gambling as UK public health issue.Having chaired the UKGC since 2016, Moyes is the former founding Executive Chairman of ‘Monitor’ the independent regulator for NHS’ trusts.In the interview, Moyes breaks down gambling addiction as a broad-ranging issue, in which UK health stakeholders have to improve knowledge of the illness and its triggers.“Even within mental health trusts” Moyes states, lack of awareness and training will mean that “quite often the focus will be on the co-morbidities to gambling rather than gambling itself” Moyes details to HSJ.Taking on board NHS and Public Health England (PHE) pressures, Moyes details that it is now ‘desirable and timely’ for the UK health service to examine problem gambling ‘starting with primary care’.Moyes points to changing attitudes with regards to gambling, which sees the public beginning to take on board the ‘very serious damage gambling addiction can do’ including its potential to “wreck families and careers”.Moyes addresses NHS leaders as the UK government commits to confronting problem gambling concerns, as part of a £21 billion NHS shake-up, which will see UK gambling health stakeholders open specialist treatment clinics in Leeds and Lancashire, improve gambling addiction networksHighlighting a key concern, Moyes underlines that ‘quite a lot of work’ is needed to find out what exact role the NHS should play in tackling problem gambling, and how effective treatment can be rolled-out across the service’s network of clinics, surgeries and trusts.“One of the things I will be encouraging the public health contributors to do is to try to [analyse] what kind of interventions are appropriate in which circumstances and to get a sense of what is cost effective. We’ve got to be realistic about that. We’ve got to understand the economic impact of gambling harm and we’ve got to try to get some balance between what we spend on that and intervention, prevention and treatment. I think there’s also quite a lot of work to do to find out what kind of messaging works.“This is a serious attempt to come together and tackle [the] problem. We want the NHS to be really thoughtful about the kind of things it should and could offer for different types of problem gambling.” Submit Winning Post: Swedish regulator pushes back on ‘Storebror’ approach to deposit limits August 24, 2020 Share Share read more
Submit StumbleUpon Flutter moves to refine merger benefits against 2020 trading realities August 27, 2020 Related Articles Share Bundesliga return offers May boost for German betting market June 16, 2020 Share PokerStars moves to refresh global appeal with ‘I’M IN’ August 18, 2020 Flutter Entertainment Plc has this afternoon confirmed that it plans to sanction a private placement of 8 million corporate shares made available to ‘institutional investors’.The enlarged FTSE100 gambling group seeks to raise a further £850 million in working capital, strengthening its liquidity to take advantage of the short and long-term opportunities presented by a disrupted marketplace.Confirming the placement, Flutter governance details four key areas, where the company aims to accelerate its growth.Flutter highlights the rapid expansion of its US presence as its top corporate priority, in which the company will move to significantly advance its joint venture partnership with FOX Sports across all US regulated markets.As US joint-venture partner FOX Corporation has committed to securing an increase in its Flutter Plc equity as part of the placement.Lachlan Murdoch, CEO of Fox Corporation said: “FOX is bullish about the opportunities in the digital sports wagering market. FOX Bet has shown strong growth since launching last fall, and we look forward to continuing that success with our partner, Flutter. FOX’s investment in Flutter underscores our confidence in Flutter’s business and its management’s ability to continue to drive leadership in the U.S. market”At an operating level, Flutter details that the placement will help the company secure quicker enlargement co-synergies with The Stars Group Inc. The FTSE firm aims establish its competitive advantage across all online gambling product categories (poker, casino, sports betting and Exchange wagering).Flutter underlines that the £850 million placement, will ‘secure early finance cost savings’ for an enlarged group, in which governance aims to de-leverage the firm’s balance sheet earlier than projected lowering long-term interest payments.Closing its statement, Flutter adds that a stronger balance sheet will help the firm navigate and capitalise of COVID-19 opportunities, in relation to unknowns on the timing of sports return’, market regulations and economic uncertainties.“The group believes that the current operating environment is likely to result in longer-term changes to the sector landscape which will lead to further opportunities. The placing will better position the group to move quickly to capitalise on such opportunities should they arise, accelerating its four-pillar strategy and consolidating its market leadership positions,” Flutter explained.Earlier this afternoon, Flutter presented its Q2 trading statement in which the enlarged company recorded a 10% increase in group revenues, despite being forced to close its entire UK retail betting presence read more
Sarina Wiegman, who spent time in the USA at the start of her playing career, has won all 12 major tournament matches as coach of the NetherlandsLyon, France | AFP | For just the second time in the history of the women’s World Cup, there will be female coaches on both benches for the final as Sarina Wiegman’s Netherlands take on holders the United States, coached by Jill Ellis, on Sunday.Only nine of the 24 teams present at this year’s tournament were coached by women, but the work done by Wiegman and Ellis has ensured the first final without a man on either bench since 2003.Ellis, 52, led the USA to glory in Canada four years ago and can become the first coach to win back-to-back World Cups in the men’s or women’s game since Vittorio Pozzo with Italy in the 1930s.Wiegman, meanwhile, is hoping the Netherlands can add the World Cup to the European Championship they won as hosts in 2017.That would be a remarkable achievement for someone who, like Ellis, has a schooling in soccer in the US to thank for her career trajectory.– ‘100 percent American’ –Seen as having an uncompromising management style, there can be no arguing with Ellis’s results, with the USA winning the 2015 World Cup and now becoming the first team to reach three consecutive finals.Ellis had various roles in the national team set-up before becoming coach in 2014 and seizing the chance to deliver glory to the country that provided her with an opportunity in the game.The daughter of a Royal Marines commando, Ellis was born and raised in Portsmouth in southern England at a time when football was very much considered a man’s game in Britain. She moved across the Atlantic as a teenager.“I’d had zero opportunity to play football over here, so that is really what America gave me,” she said before the USA defeated England in the semi-finals.Of her British upbringing, the Manchester United fan added: “My whole British culture growing up, still I think is with me for sure and I am very grateful for that because had I grown up in another country, maybe the passion for football would not be where it is.”While a hint of an English accent remains, Alex Morgan describes her boss as “100 percent American” now.Her team are overwhelming favourites to retain their title, but standing in her way is another woman who learned much in women’s college soccer in the late 1980s. – ‘Women need guts’ –It is three decades since Wiegman jumped at the chance given to her by Anson Dorrance to go and play at the University of North Carolina.“The year I spent there changed my life,” she said in an interview with The Coaches’ Voice website.Before that, as a girl, she has said that she had to cut her hair short to blend in playing with boys in The Hague.Dorrance led the USA to glory in the first women’s World Cup in 1991. Wiegman, meanwhile, went on to become the first Dutch footballer to win 100 caps.However, women’s football in the Netherlands was slow to develop and she was working as a PE teacher before becoming full-time coach of ADO Den Haag in 2007.In 2014 she became an assistant to the Dutch national team before taking over as head coach six months before the Netherlands hosted Euro 2017.Under her, the Dutch have won 12 games out of 12 at major tournaments. Her team’s fighting spirit is something she says comes from her American experience.“The American culture is very much about hard work and that is different to our culture,” she said after beating Sweden in the semi-finals.“If you want to win from a country like that, you need to fight and you need to position yourself and battle it out.”Wiegman also said “women need to have the guts to make choices and take risks to go for higher positions”.That attitude has paid off handsomely for her, and it is something of which her players are proud.“Seeing there are two coaches leading the women’s teams to the final, that’s something incredible and something they can be really proud of,” said defender Dominique Bloodworth.Share on: WhatsApp read more
CEST The Belgian defender was playing for Lokeren against Genk on Monday when he collapsed due to a heart attack. Sport EN Upd. at 19:23 He was taken to hospital but did not survive. Gregory Mertens has died at 24 years old. 30/04/2015 Lokeren released a statement reading: “Despite the good medical care of our own sports staff and colleagues in Genk, it soon appeared the situation was very serious. “Gregory was revived on the field and transferred to the hospital in Genk. Medical staff have done everything they could to save Gregory, but they finally had to acknowledge their impotence. “Today, Gregory died at around 1630 (local time). His family were able to say goodbye.”
CARDINIA WATERS BOWLS IT WAS a sad ending to the season for the Cardinia Waters Saturday Division 3 side on…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.