Visiting Cape Split Is Easier Safer

first_imgNova Scotians and tourists will find it easier to visit Cape Split, now that a new parking lot has opened. In the past, visitors had to park on the side of the highway before exploring the Crown lands around Cape Split. The new parking lot will make visits safer. “Cape Split, and the nearby Blomidon and Scots Bay provincial parks are very popular with visitors from across the province and around the world,” said MLA Jim Morton, on behalf of Natural Resources Minister Charlie Parker. “We’re improving that experience with the new lot at Cape Split.” New compostable toilets will also be open soon. “The Cape Split trail is a scenic landmark here in Kings County. We are proud to be part of making Cape Split a safer and more attractive destination for our residents and travelers,” said County of Kings Warden Diana Brothers. The province is looking at how to improve the trail system around Cape Split while maintaining the natural beauty of the area. The long-term goal is to provide visitors with a better understanding of the significance of tides, geology and Aboriginal culture in the region, on both sides of the Fundy Shore and Annapolis Valley. Overnight camping at Blomidon Provincial Park can be reserved by calling 1-888-544-3434 between 9 a.m. and 11 p.m., seven days a week, or online at .last_img read more

Bus maker New Flyer moves jobs to Kentucky to meet increasing US

first_imgWINNIPEG — North America’s largest transit bus and motor coach manufacturer says it’s moving about 90 jobs from Winnipeg to Kentucky due to increasing U.S. content requirements.New Flyer spokeswoman Lindy Norris says in an email that the jobs will be transferred to its facility in Shepherdsville, Ky., in the first half of 2019.Norris says in 2015, the U.S. government passed an act that boosted its American parts content requirement for bus purchases that use federal funds.That requirement jumped from 60 per cent to 65 per cent in October 2017, and will increase again to 70 per cent in October 2019.Lindy says in order to meet the 70 per cent requirement, New Flyer has to transfer some of the high-dollar electrical components currently made in Winnipeg to the U.S.She says the company advised the Winnipeg workforce of the decision last month.“The decision was made after exhausting external supply chain options, but given the high dollar content of the electrical components there were no other viable alternatives,” Lindy said in the email.“No further transfer of work out of Winnipeg is anticipated.”NFI Group Inc., the parent of New Flyer Canada, is headquartered in Winnipeg and it says nearly 90 per cent of its revenue comes from U.S. customers.It employs more than 2,800 people in the Winnipeg area.Companies in this story: (TSX:NFI)The Canadian Presslast_img read more

Banking regulators revised guidelines include financial stress test on buyers

TORONTO — Canada’s banking regulator said Tuesday it is going ahead with a new stress test for home buyers who don’t need mortgage insurance, who will soon have to prove they can make their payments if interest rates rise.The move is expected to reduce the maximum amount buyers will be able to borrow to buy a home, even if they have a down payment of 20 per cent or more, starting Jan. 1.The Office of the Superintendent of Financial Institutions set out final guidelines on the changes to its residential mortgage underwriting guidelines Tuesday, the broad thrust of which are similar to what it had proposed in a draft consultation in July that had been criticized for potentially increasing costs and limiting access to mortgages for some buyers.However, the regulator did tweak the calculation of the qualifying rate for uninsured mortgages to address concerns that using the contractual rate plus two per cent could lead borrowers to seek out shorter terms.“We didn’t want to create an artificial incentive for borrowers to shorten terms because of the regulation,” superintendent Jeremy Rudin told reporters.Would-be homebuyers will need to prove they can still service their uninsured mortgage at a qualifying rate of the greater of the contractual mortgage rate plus two percentage points or the five-year benchmark rate published by the Bank of Canada. An existing stress test requires those with insured mortgages to qualify at the Bank of Canada benchmark five-year mortgage rate.Phil Soper, chief executive of Royal LePage, said most first-time buyers were probably already subject to a stress test, but buyers looking to move up to a larger home may be affected.“Someone who is using the equity in their home to move from say a condominium to a detached home because they have had a baby or another baby, they may not be able to do that,” he said.Soper said the change has increased the risk of a market correction, where home prices reset lower.“I don’t expect that, but the risk certainly increased today.”Other changes include restrictions on co-lending, or bundled mortgages — in which federally regulated lenders pair up with unregulated providers to finance a property — aimed at ensuring financial institutions do not circumvent or appear to circumvent rules that limit how much they can lend. Federally regulated financial institutions must also establish and adhere to loan-to-value ratio limits that are updated as housing markets and economic dynamics evolve.“We certainly see the risks that are caused by high household indebtedness, by the high house, property values in some markets… and the risks posed by potential changes in interest rates,” Rudin said.The government has tightened mortgage rules several times in recent years including a change last year that expanded stress tests to all insured mortgage applications. Meanwhile, the Bank of Canada has raised interest rates twice in the past few months to the current overnight lending rate of one per cent.Rudin also said he would consider revisiting OSFI’s uninsured mortgage stress test down the line and adapting it as circumstances change.“We are prepared to revisit that if there is an evolution in interest rates over time,” he told reporters. “But right now I would expect it to be durable, because it is well lined up with the comparable test … for insured mortgages.”TD Bank senior economist Brian DePratto said data for August showed insured mortgages were down 4.5 per cent compared with a year earlier, while uninsured mortgage credit grew 17.3 per cent.“While this is partly related to the rising prices of Canadian real estate, with more and more of it priced above the insurance caps, it also likely reflects the skew stemming from the past stress test requirements,” he wrote.“As such, today’s change, alongside the explicit guidance around co-lending arrangements, will together help address the shift as far as those borrowing from federally regulated institutions.”David Madani, senior Canada economist at Capital Economics, estimated that using a traditional 25-year amortization the changes reduce the maximum house price a buyer can afford by about 15 per cent.“Needless to say, these latest mortgage rule changes will have a negative impact on house prices and household wealth,” Madani wrote in a note to clients.Rudin reiterated Tuesday that OSFI was aware the stricter guidelines for uninsured mortgages could have unintended consequences, such as sending borrowers towards more risky lenders that are out of the regulator’s purview.“We can’t control what we can’t control,” he said.“Our mandate is focused on the safety and soundness of the federally regulated institutions… It isn’t something that we favour but it isn’t something that we have an authority to prevent.”A spokesperson for Ontario Minister of Finance Charles Sousa said Tuesday it was “too soon to determine the impact of the stress tests imposed by the Federal government.We support measures that reduce risks for consumers and improve Canada’s long-term growth and competitiveness.”— With files from Craig Wong in Ottawa and Shawn Jeffords in Toronto read more

Approval of Somalias new cabinet a green light for action says UN

“The Parliamentary approval was a bright green light,” the Special Representative of the Secretary-General for Somalia, Michael Keating, said today in a news release.He noted that with a healthy mix of experienced leaders and relative newcomers to the political stage, the new cabinet will make a vital contribution to the efforts of President Mohamed Abdullahi Farmaajo and Prime Minister Hassan Ali Khaire. In a recent statement, the Prime Minister had highlighted the need to eradicate poverty, build up Somalia’s security services to combat the scourge of terrorism, and expedite the constitutional review process that will lay the foundations for the holding of one-person, one-vote elections in 2020. For his part, Mr. Keating added that 27-Minister cabinet includes six women, the largest number of female ministers ever to be named to a Federal Government cabinet is a positive step towards empowering Somali women in the political affairs of the country. “The United Nations and international partners look forward to working closely and fruitfully with the President, the Prime Minister and the new cabinet as they tackle the many political, economic, security and humanitarian tasks facing Somalia today,” he said. read more

New Sandvik underground trucks with much cleaner emissions reduce ventilation needs and

first_imgSandvik Mining has launched two new underground trucks in the market. It says “the new TH550 and TH540 are the first in the underground mining world to offer energy-efficient and low-emission EPA Tier 4i/EURO Stage IIIB engines. Compact and agile, they offer the biggest payload per envelope size and empty vehicle weight.” The new TH550 and TH540 are based on ‘the old workhorses’, Sandvik T50 and T40, which Sandvik says “were widely regarded as the best underground trucks in the market.” The all-new TH trucks were born as a result of comprehensive research, customer feedback and modern thinking. One of the main advantages of these trucks is the optional Tier 4i/IIIB engine that consumes less fuel, produces fewer emissions and has better torque characteristics for trucks than its predecessors. Currently, the TH550 and TH540 are the only trucks in the market available with these engines.“If these engines were left running, for example, in the centre of some large city, the exhaust fumes coming out of the engines would be cleaner than the air they took in from the city. These trucks can thus provide a healthier environment for all personnel working underground,” says Tomi Pikala, Marketing Support Manager at Sandvik MiningThe TH550 and TH540 are engineered and designed with special emphasis on environment, health & safety (EHS), productivity and reliability. New features, such as the possibility to conduct all daily maintenance from ground level, offer enhanced safety and usability. Operator comfort and overall productivity are improved with a remodelled cabin featuring a new ergonomic, vibration-reducing seat, a new dashboard, a new control system screen, automatic gear shifting and adjustable climate control.While the Tier 4i/IIIB engines cut operational costs through lower fuel consumption, a substantial reduction in ventilation requirements provides even greater savings. Uptime hours are increased with practical, time-saving features such as a large tank capacity, centralised ground level maintenance and easily cleanable radiators. The new cooling system, even safer electrical wiring, new steering cylinders and durable tires, combined with the other new features, are designed to increase operating hours per year and extend the overall service life of the trucks. As a result, increased uptime and prolonged service life provide the ultimate in productivity.last_img read more

Hazard still wants to reach the top four

first_imgChelsea managed to beat Swansea 1-0 away from home and it was a crucial win for them as they managed to stay in the race for the top four finish – and Hazard still believes in achieving it.The Belgium international spoke about his side’s chances of playing the Champions League next season as they are trailing on the top four places but they still have got a chance of reaching them.The former Marseille player spoke about his team’s ending of the season as he said, according to Mourinho is sold on Lampard succeeding at Chelsea Tomás Pavel Ibarra Meda – September 14, 2019 Jose Mourinho wanted to give his two cents on Frank Lampard’s odds as the new Chelsea FC manager, he thinks he will succeed.There really…“It was important to keep momentum. We are in good form, we are winning tough games, so now we have three games to left play in the league and then we will see what’s happened at the end.”“Of course, we want to reach the top four, it’s not depending only on Chelsea, but we can do it if we are like we were against Swansea if we keep fighting together.”“We are in the race. Like I said, we have three games to play, we play Liverpool so that is a big game for us next week, so now we can prepare for that game and we have one week to be ready for this big game.”last_img read more

Jury continues deliberating in trial of navy man charged in fatal bridge

first_img 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) – Jury deliberations will continue for a third day Tuesday in the trial of a Navy petty officer accused of driving drunk on a transition ramp to the San Diego-Coronado Bridge and plummeting over the side and into Chicano Park below, killing four people.Richard Sepolio, 27, is charged with gross vehicular manslaughter while intoxicated, DUI and reckless driving for the Oct. 15, 2016, deaths of Annamarie Contreras, 50, and Cruz Contreras, 52, a married couple from Chandler, Arizona; and Hacienda Heights residents Andre Banks, 49, and Francine Jiminez, 46. Seven other people were seriously injured.Closing arguments concluded last Thursday in Sepolio’s trial.Attorney and true crime writer Aleida Wahn attended the Sepolio trial and said she is currently writing a story about the case. Wahn stopped by Good Morning San Diego to discuss the trail.Deputy District Attorney Cally Bright told jurors during closing arguments that Sepolio chose “to drive irritated, impaired and impatient,” leading up to the crash. Prosecutors argue that in addition to having drinks prior to getting behind the wheel, Sepolio was arguing with his girlfriend over the phone just moments before losing control of his truck on the bridge.Sepolio testified he was driving on the transition ramp — a route back to Coronado that he had driven more than 90 times before — when he sped up to merge in front of another car and lost control.The defendant said he remembered being on top of a freeway barrier looking down, then waking up in the park and being pulled out of his truck. Sepolio said his memory was mostly “cloudy” about what happened after his truck plunged into the crowd below.On the stand, he denied arguing with his then-girlfriend on the phone just before the crash, but admitted on cross-examination that he’d just left from a lunch with a female Navy colleague where “the idea was to go out and have a good time.” Sepolio testified he had a glass of alcoholic cider and a glass of wine at lunch before heading back to Coronado.As his closing argument began, defense attorney Paul Pfingst said multiple breath and blood tests showed that Sepolio was not under the influence of alcohol the day of the crash. One blood sample was taken to a California Highway Patrol office and wasn’t tested for a year, Pfingst told the jury.“They took his blood and they destroyed it … and they say it’s no big deal,” the defense attorney said.Sepolio faces at least 23 years and eight months in prison if convicted of all charges. Updated: 8:59 AM KUSI Newsroom, Posted: February 5, 2019 Jury continues deliberating in trial of navy man charged in fatal bridge crashcenter_img KUSI Newsroom Categories: Good Morning San Diego, Local San Diego News FacebookTwitter February 5, 2019last_img read more

Ecommerce policy confusion Tech giants put their investment plans on hold

first_img IBTimes VideoRelated VideosMore videos Play VideoPauseMute0:00/1:19Loaded: 0%0:00Progress: 0%Stream TypeLIVE-1:19?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio Trackdefault, selectedFullscreenThis 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. COPY LINKAD Loading … Is Jeff Bezos and Amazon set to take over the world? The logo of India’s largest e-commerce firm Flipkart is seen on the facade of the company’s headquarters in Bengaluru, India July 7, 2017. REUTERS/Abhishek N. ChinnappaGlobal technology giants operating in India have put their investment plans on hold amid confusion over the existing e-commerce policy and data protection laws. The industry is waiting for the government to clear the confusion over a series of issues. According to Business Standard, public policy teams of Amazon, Flipkart, Facebook, and TikTok have plans to meet senior officials of the Union Finance Ministry, Department for Promotion of Industry and Internal Trade (DPIIT) and Union Information Technology Ministry to understand the e-commerce policy.In February, the Modi government had released the draft national e-commerce policy, proposing to set up a legal and technological framework for restrictions on cross-border data flow, and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad. Now, with a new government taking charge within a week, the industry is gearing up for clearing the air around the draft. A senior public policy advisor of one of the biggest e-commerce companies in India said “a lot of questions remain unanswered.The e-commerce policy talks more about data protection. The changes companies had to make due to the tweaks in the foreign direct investment (FDI) policy are still affecting businesses. We need to understand what exactly the new government would do on these issues.” APThe industry raised its concerns over the draft especially on the data-localisation which eventually would raise the operating cost of the e-commerce companies. He further added “the problem is that the government is not even allowing us to process the data offshore. If that stays, it would affect businesses a lot.”This particular clause has led to these companies defer their investment plans in India. A senior vice-president of a technology firm further added, “We need to know what the policies are. There is too much to and fro happening on that front. Till the time we have crystal clear policies, the investment might not happen.” After the e-commerce policy introduction, many of the products offered by these companies disappeared from their websites. In all, more than 400,000 items that account for nearly a third of Amazon’s estimated $6 billion in annual sales in India disappeared temporarily from the local version of the company’s service, as Amazon complied with new e-commerce rules imposed by the Indian government. In contrast, Snapdeal, an Indian online marketplace that was hurt by earlier price wars with Amazon and Flipkart, also cheered the policy changes while urging the government not to grant the companies more time to comply. Closelast_img read more

Two held for TMC leader Nirmal Kundus murder

first_imgKolkata: Two persons have been arrested for the murder of Trinamool leader Nirmal Kundu, who was shot dead in Nimta on Tuesday evening. Chief Minister Mamata Banerjee is set to visit his family on Thursday.On Tuesday night, police detained a person identified as Suman Kundu, who admitted that he hired a contract killer to murder Nirmal. After interrogating him, cops nabbed the contract killer Sujoy Das from Uttarpara. According to sources, Suman was a Trinamool worker in Nimta. He joined the BJP a few months ago before the Lok Sabha elections. Also Read – Rs 13,000 crore investment to provide 2 lakh jobs: MamataThe police said Suman had some personal and political rivalry with Nirmal. On Wednesday, it found from a CCTV footage that Nirmal was having a chat with some local residents when two persons on a bike fired two shots at him and fled. After observing the footage, cops were sure that an expert shooter was involved in the crime as the youth in CCTV footage was seen using a small firearm and he shot the TMC leader on a speeding bike. During preliminary investigation, the police came to know about the rivalry between Nirmal and Suman. During questioning, Suman confessed to crime and said he had hired Sujoy, who belonged to Burwan in Murshidabad. Cops found his mobile number and tracked him down from Uttarpara by using his phone location. Police claimed that they were not sure about the motive behind the murder but Trinamool leadership claimed that he was being threatened and targeted by the BJP as he was an active Trinamool member. Also Read – Lightning kills 8, injures 16 in stateNirmal was actively involved in poll-related work in Birati and Nimta areas. He was known to all and confronted the BJP in his area. “We have arrested two persons in connection with Nirmal’s murder. A few more persons might be involved in the incident. A search is on to nab them. A single-shoter and three rounds of bullet have been seized from the contract killer. To ensure that the bullet was fired from the seized firearm, ballistic test will be done,” said Ananda Roy, Deputy Commissioner (DC), Zone II of Barracakpore Police. MP from Dum Dum constituency Saugata Roy, said: “The BJP was targeting Nirmal as he was an active worker of Trinamool.”last_img read more

Steph Currys been average in the Finals and nobody is talking about

first_imgThe “Steph Curry love” in the media has reached restraining order levels. Any opinion of Curry, short of placing him in the stratosphere of all-time greats, is considered scathing criticism. Today, Colin pointed out the indisputable statistics that prove he’s struggling in the more physical Finals.Three games into this year’s Finals, Curry is only averaging 16 points per game, and only hitting a shade over 40% from the field. It’s a considerable drop off for the unanimous MVP, after torching the NBA for the entire regular season. If you look to the media for criticism, you hear crickets.“He’s not getting crushed for it.  The media voted him unanimous MVP. They’re invested in it.”When Michael Jordan shot a pedestrian 41% against the Supersonics in the 1996 Finals, he was still named Finals MVP. He affected the game defensively and imposed his physical will on the series. Even if the Warriors win another title, an ineffective Curry isn’t likely to be the MVP for the second year in a row. Advertisement “Never forget this game was built for big guys. They had to alter and change the rules to let the little guys have some fun.”Curry is the epitome of the modern NBA. His effectiveness is directly related to his offense, and more specifically the three. He’s doesn’t have the physical size to dominate the game defensively, or impose his physical will. Even though he and the Warriors have mastered the three, they’ve had so much success it’s made them one dimensional.“When you’re really great at something, you don’t develop other parts of your game.”last_img read more

Get a Grip on Your Operating Costs By Moving to the Cloud

first_img 5 min read Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Opinions expressed by Entrepreneur contributors are their own. July 22, 2016 In the golden age of the software services company, Novell — remember? — I worked in public relations for CEO Eric Schmidt. And even back then, before talk of “the cloud,” Schmidt was spreading his vision of “One Net.”Related: 4 Entrepreneurs Trying to Bring Cloud Computing to Tech-Leery Law FirmsHe went on to build out that vision with a little startup called Google.When I started my own first company, I already shared that vision of doing business online and knew how to connect people and systems, to facilitate a “virtual company.”This approach has worked for 13 years, giving us a virtual advantage. Fast-forward to 2016, and the online cloud is now an integral part of that advantage.Why is cloud computing good business? In an Executive Summary to a recent report, Files Anywhere described some interesting, related research. That research found that 37 percent of IT professionals recently surveyed admitted feeling pressured to transition their company’s operations from a traditional capital-intensive physical model to an expense-based cloud model.No surprise there: Businesses are looking to cut overhead costs as much as possible, so they’re looking to the cloud to accomplish this.But, what about you? Are you looking for ways to keep costs down? Clearly, you’re not alone, and moving to the cloud may be your best option. “With smaller businesses, managing operational costs and requirements can slow them down,” says Gerard Szatvanyi, president and CEO of OSF Global Services. “But if [those smaller businesses] are able to define a cloud-computing strategy, they can use enterprise-class technology at a fraction of the cost.”Making that same switch could save you money too.Make a direct impact on expenses with the cloud.Moving to the cloud is not as mysterious as it once was. What was formerly considered to be faddish, trendy technology is now an industry pacesetter. New models involve tiered pricing and boutique offerings. The two features work in tandem to help clients create a custom cloud experience that suits their business needs. This makes an immediate impact on expenses.For starters, cloud-based models have a direct impact on the amount of capital that has to be spent on physical equipment. The cost of data servers, IT infrastructure and the electricity needed to operate them is pretty much a non-issue.And the money saved can be funneled into other areas where it makes more sense. This is only the first of several ways a cloud model can help with operating expenses.How the cloud impacts intangible expenses.Chances are, you will not require a full IT staff once you migrate services over to the cloud. How much could you save by having one or two part-time IT employees versus a full staffed department of five or six? Maybe some employees could work from home? This would free up office space and save money on utilities, as well.Related: 10 Big Misconceptions About Cloud ComputingThere are all sorts of indirect savings associated with moving to the cloud. Paper expenses, filing storage and time gained in efficiency are just a few. Storing documents online requires less time for an individual to physically file the document, make copies of it, find it when it is needed, etc.You have given your employee time back by his or her move to the cloud. This will make your business more efficient, allowing employees to give their full attention to the task at hand.Efficiency encourages profitable productivity.The cloud was one of the ways how Napa Valley wine company Soutirage started killing the competition. Its entire business model is cloud-based, allowing the company to grow rapidly by maintaining a laser focus. Soutirage has a handful of employees and operates above a drugstore in St. Helena, Montana.Managing partner Chadwick Meyer says, “We are singularly focused on a small number of clients who buy a large amount of wine.” The cloud, Meyer points out, lets the staff focus on those individuals because it gives them the ability to offer their product at much cheaper rates than traditional brick and mortar stores. Cloud-based models make a lot of sense when you’re a small business owner. You save money directly, by not having to make capital purchases for equipment, and indirectly, through cuts on spending for staffing.Related: How the Hassle Over Lost Documents Might Be Costing You Thousands Each YearThe cloud makes your business more efficient and greases its gears of productivity. Boutique packages allow you to create an end product that is scalable and specific to your needs. Perhaps the time is right for you, too, to consider making the switch. Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Register Now »last_img read more

Update Ladysmith Lotto winner of R58 million claims their moneyUpdate Ladysmith Lotto

first_imgA Ladysmith resident who purchased a PowerBall PLUS ticket from De Franca Spar and won a whopping R58 million in cold hard cash from the Lotto has claimed the money.The winning ticket was purchased on Tuesday, April 18.Also read: Lucky Ladysmith resident wins a whopping R14 million in LottoAlso read: Update: Lucky Ladysmith resident wins R58 million in Lotto This is the second person to win the Lotto in Ladysmith in less than 3 months.Congratulations to our lucky winner!Click to receive news links via WhatsApp. Or  for the latest news, visit our webpage or follow us on Facebook and Twitter. Join us there! WebsiteWebsiteWebsite WebsiteWebsiteWebsite WebsiteWebsiteWebsite last_img

Thomas Cook India signs MoU with Sentosa Development Corporation enters a 3year

first_imgThomas Cook India has entered into a strategic partnership with Sentosa Development Corporation (SDC), Singapore through the signing of an MoU between Mahesh Iyer – Executive Director and Chief Executive Officer, Thomas Cook (India) Ltd and Quek Swee Kuan, Chief Executive Officer, SDC. The three-year-long partnership comes in the wake of India’s emergence as the top source market for Sentosa and the third largest for Singapore. The tactical collaboration is aimed at promoting the island as the topmost destination for travellers, including those from Tier II and Tier III Indian cities. The island resort of Sentosa recognised as the Best Attraction at the Travel Weekly Asia Readers’ Choice Awards 2018 and Best Singapore Destination at the Tripzilla Excellence Awards for the second year running has always been a favourite among Indian tourists. SDC remains dedicated to adding an assortment of fresh leisure attractions to its repertoire to encourage repeat visits from Indian tourists. Speaking at the event, Quek Swee Kuan – CEO, SDC said that they were working on both short term and long term plans to help retain the island’s position as a top-of-the-mind destination for Indian travellers. He added, “For the short term, we’re repositioning Sentosa as a day to night destination for leisure, lifestyle and entertainment. We’re looking forward to working closely with Thomas Cook to see how we can curate certain experiences that will be unique to our Indian visitors.” Mahesh Iyer – Executive Director and Chief Executive Officer, Thomas Cook (India) Ltd concurred, adding that the company will focus on curating exclusive Sentosa packages across both the B2C and B2B travel sectors. He said, “Today it’s all about customisation. The holiday selling concept is undergoing a big change. It is important to understand who the customers are and what their preferences are. Our products are then going to be tailor-made to suit that market. Throughout this association, we will have different products and price points. There will be family holiday packages, packages for adventure seekers as well as millennials and solo women travellers.”He further added, “Our unerring focus on customer delight has been the cornerstone of our partnership with Sentosa Development Corporation. With experiential travel seeing significant and growing demand, Sentosa offers a perfect fit, with a plethora of engaging and enriching experiences in Singapore – a favourite with Indian holidaymakers and B-leisure segments. It is truly an honour to partner with SDC in redefining the Singapore experience via a dynamic range of Sentosa products across both our B2C and B2B markets.”The partnership will include a host of marketing activities from joint promotions, roadshows to advertising in order to promote Sentosa as an experiential destination to the Indian market.last_img read more

Citi Admits Role in Bad Mortgage Claims Settles for 1583M

first_imgCiti Admits Role in Bad Mortgage Claims, Settles for $158.3M February 15, 2012 458 Views in Government, Origination, Secondary Market, Servicing Acquisitions Agents & Brokers Attorneys & Title Companies Bank of America Citigroup Company News FHA Housing Affordability HUD Investors Lenders & Servicers Mortgage Fraud Mortgage Insurance Processing Service Providers 2012-02-15 Ryan Schuettecenter_img The mortgage subsidiary for “”Citigroup””: settled claims that it misrepresented government-backed loans Wednesday by agreeing to pay HUD $158.3 million in damages.[IMAGE]The payout means that “”CitiMortgage””: acknowledges that it qualified nearly 30,000 bad loans for government insurance, a move that bilked the “”Federal Housing Administration””: (FHA) out of millions of dollars as more than 30 percent of the mortgages went into default.The settlement resolves a suit filed by the civil fraud unit at the office of the U.S. attorney for Manhattan.””For far too long, lenders treated HUD’s insurance of their mortgages like they were playing with house money. In fact, they were playing with other people’s money and other people’s homes,”” U.S. Attorney “”Preet Bharara””: said in a statement.””We are pleased that, with today’s settlement, CitiMortgage has [COLUMN_BREAK]accepted responsibility for its conduct and agreed to pay damages in an amount that will significantly compensate HUD in this case for losses to the FHA insurance fund,”” he said.””Mark Rodgers””:, a spokesperson for Citigroup, said in a statement that the financial institution felt “”pleased”” to settle the suit.””We take our quality assurance processes seriously and have pro-actively undertaken process improvements to ensure that they are as robust as possible,”” he added.The settlement marks the third civil fraud suit filed by Bharara’s civil fraud unit. Last summer it sued “”Deutsche Bank””: and Mortgageit, Inc. over $386 million in FHA insurance claims, followed by Allied Home Mortgage Corp. in November for $834 million in civil fraud cases.It also follows the unprecedented $25-billion mega-settlement from last week that secured concessions from mortgage servicers in exchange for immunity in certain cases.Last week “”Bank of America””: likewise chose to settle allegations of misrepresentation levied against the Countrywide Financial Corp. unit it acquired in 2008.Patrick Burns, a spokesperson with “”Taxpayers Against Fraud””:, a nonprofit based in Washington, D.C., tells us he thinks the settlement is a “”good”” one.He says that he thinks there will be more cases and settlements to follow from banks.””Preet Bharara is going after fraudsters with a claw hammer,”” he adds. “”He’s a fairly tough customer and I think he’s done well.”” Sharelast_img read more

Paris – The Louis Vuitton Pacific Series has doubl

first_imgParis – The Louis Vuitton Pacific Series has doubled in size with the addition of two boats on loaned from BMW Oracle Racing team, permitting an entry of 12 teams in sailing competition. Only one racing slot remains.“Thanks to the kind offer of BMW Oracle to lend two fully-equipped race boats we are able to expand the entry list to 12 boats,” said Louis Vuitton spokesman Bruno Troublé. The two yachts, USA ‘87 and USA ‘89 will be shipped from Valencia, Spain, to Auckland, New Zealand, where the Louis Vuitton Pacific Series will take place from January 31 to February 14.The American boats will join the Emirates Team New Zealand yachts NZL92 and NZL84 to provide two pairs of boats for match racing.“We’ve had very strong interest for this friendly event,” said Yves Carcelle, President of Louis Vuitton. “Within a week of the announcement, 23 teams expressed interest—and eight teams registered and paid their fees while three more completed their entry forms.’’The following teams have officially entered: Emirates Team New Zealand K Challenge (France) Mascalzone Latino (Italy) BMW Oracle Racing (USA) China Team (China) Team French Spirit (France) Australia First (Australia) Team Shosholoza (Republic of South Africa)The Louis Vuitton Pacific Series is being held in association with the New Zealand Government, Emirates Team New Zealand, the Royal New Zealand Yacht Squadron (RNZYS), Auckland City and Sky City Entertainment Group.last_img read more

CBC revises 2017 growth to 38 and to 34 next year

first_imgThe Central Bank of Cyprus said it expects the economy to expand 3.8 per cent this year before growth slowed down to 3.4 per cent in 2018.By 2020, growth is expected to gradually drop to 3.1 per cent, the central bank said in its economic bulletin, published twice a year.The bank supervisor, which revised its June forecast upwards by 0.7 percentage points citing a “better than expected economic performance (reflected in) the course of all major productive sectors” said growth is expected to reduce unemployment to 9.8 per cent next year, from 11.5 per cent in 2016. The jobless rate is expected to drop gradually to 7 per cent by 2020.The harmonised inflation rate is expected to accelerate to 1.3 per cent next year and in 2019 before reaching 1.6 per cent 2020 from 0.8 per cent in 2017 and minus 1.2 per cent last year.The Cypriot economy expanded 3 per cent in 2016 after emerging from a prolonged recession the previous year recording 2 per cent growth.Finance minister Harris Georgiades said on December 1 he expects the economy to expand 4 per cent this year and growth to exceed 3 per cent in 2018.“In 2017, private consumption is expected to increase 2.2 per cent after growing 3.3 per cent last year reflecting mainly an increase in disposable income, historic low interest rates, tax relieves and the reduction of immovable property tax, and improvement in employment and salaries,” the central bank said. Private consumption is expected to increase 2 per cent in 2018 and continue to rise at the same pace until 2020.Public consumption is expected to increase 3.1 per cent this year after falling 0.4 per cent in 2016, attributed partly to the increase in the number of professional soldiers in the National Guard, the central bank said. Public consumption is expected to increase 1 per cent next year and 1.9 per cent and 0.8 per cent in 2019 and 2020 respectively.Exports of goods and services which increased 3.9 per cent in 2016, is expected to drop slightly this year and rise 4.4 per cent next year. Imports are expected to increase 0.6 per cent this year after and 3.9 per cent in 2018.The central bank said a slower than expected decline of non-performing loans, considered the banks’ main problem, could negatively affect economic growth as it threatens the further decrease of private debt.Further downside risks are related to Brexit, and in particular to a deterioration of external demand for services, as a result of an unfavourable situation for the UK economy, the central bank said. While certain sectors, including tourism, could be affected, any impact would be manageable.Upside risks are related to a faster than expected implementation of investment projects, including the operation of a casino resort in Limassol and other satellite resorts in other towns, the central bank said. Also, the completion of other investment projects, including university, research and transport infrastructure, could improve the macroeconomic environment.The central bank also added that an increase in lending and the use of EU structural funds could lead to a further increase in investment in the private sector while investment in the exploitation of hydrocarbons could further improve macroeconomic prospects. You May LikeDr. Marty ProPower Plus Supplement3 Dangerous Foods People Feed Their Dogs (Without Realizing It)Dr. Marty ProPower Plus SupplementUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoYahoo SearchThese SUVs Are The Cream Of The Crop. Research Best Compact SUV CarYahoo SearchUndo Turkish Cypriot actions in Varosha ‘a clear violation’ of UN resolutions, Nicosia saysUndoConcern over falling tourism numbersUndoPensioner dies after crash on Paphos-Polis roadUndoby Taboolaby Taboolalast_img read more

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