Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the Inter-American Development Bank (IDB) remains a major source of funding for Caribbean countries. Speaking at the opening of the second annual meeting of Central Bank Governors of the IDB Caribbean Country Department’s member states, at the Jamaica Pegasus Hotel, New Kingston, on Thursday (January 17), Dr. Phillips pointed out that over the last 50 years, the IDB has approved over US$8 billion in project funding for the region, much of which has been provided at “highly concessionary terms”. He noted that in 2011, the institution provided in excess of US$900 million in loans and grant funding to the region, while pointing out that the Bank is Jamaica’s largest development partner, having provided the country with a portfolio of loan and grant-funded projects valued more than US$340 million. The Minister said the IDB also remains the Caribbean’s largest development partner, noting that it continues to play a pivotal role in a range of areas impacting regional nations. These, he pointed out, include: fiscal consolidation and debt reduction; energy efficiency and the development of renewable energy sources; infrastructural development; the building of resilience to natural disasters, so as to withstand the effects of climate change; and partnering in the necessary process of economic diversification, in order to build a competitive and dynamic regional private sector.
zoom The restructuring of the financially-troubled South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) will go ahead as Korean Development Bank (KDB) plans to inject fresh funds to support the bailout plan despite the opposition from an individual investor, the Korea Herald reports citing the bank as saying.“One investor opposing the funds is not going to stop the plan from continuing to move forward,” a KDB spokesperson is quoted as saying.The announcement was made in the aftermath of a court rejection of the appeal from a group of individual investors to the bailout plan. However, the investor is said to be planning to take the case to the top court soon, as informed by Korean media.The plan envisages, half of the shipyard’s commercial papers to be converted into equity with the rest being rolled over. DSME’s creditors Korea Development Bank (KDB) and Export-Import Bank of Korea (KEXIM) will in exchange provide the company with KRW 2.9 trillion (USD 2.6 billion).The transaction would push the debt ratio to 300%, compared to 2,732% at the end of 2016.Separately, the bank said in a press release on Monday that the management committee for the shipbuilder’s normalization, comprising experts from the shipbuilding industry, finance, restructuring, accounting and legal sector along with representatives from credit banks, held a meeting in Seoul on Monday afternoon.As disclosed, the committee will meet on monthly basis to discuss major issues regarding the company’s restructuring plan and its future effective management. The first meeting is scheduled to be held in June, the key topic on its agenda being the review of DSME’s self-initiated rescue plan and discussion of the plan’s management in 2017.KDB said in the statement that the committee plans to implement the management normalization plan “in an efficient, professional and objective manner as soon as possible.”DSME has managed to return to the black in the first quarter of 2017, following stringent self-rescue efforts which included workforce reduction and asset sales.The company’s operating profit for the period bounced back to KRW 291.8 billion compared to an operating loss of KRW 38.1 billion.A similar turnaround was reported for DSME’s net income which reached KRW 261.3 billion for the quarter ended March 31, 2017, against a net loss of KRW 3.4 billion seen in the same three-month period in 2016.World Maritime News Staff
Kolkata: Mayor Firhad Hakim inaugurated an exhibition on Gaganyaan Space Suit at Birla Institute of Industrial and Technological Museum (BITM) on Wednesday.”Earlier, I came here (BITM) when I was child. Today, I see a lot of changes here. In our days, we only knew about doctors and engineers. Nowadays, children can become space scientists. These types of exhibitions inspire children to become scientists and astronauts,” said Hakim. While Indian Space Research Organisation (ISRO) is gearing up to launch the Gaganyaan project, it has developed a space suit prototype Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari Pujaalong with other technologies. Gaganyaan, an Indian crewed orbital spacecraft intended to be the basis of the Indian Human Spaceflight Programme, is being designed to carry three people. The three astronauts will be living for five to seven days within 400 km orbit from the earth’s surface. ISRO developed the orange-coloured prototype space suit over the past two years at Vikram Sarabhai Space Centre in Thiruvananthapuram. With the ability to hold one oxygen cylinder, the suit will allow the astronaut to breathe in space for 60 minutes. “We are proud of our astronauts,” said Hakim after inaugurating the exhibition followed by West Bengal Students’ Science Seminar 2019 at BITM premises. The seminar enlightened children about Periodic Table of chemical elements and its impact on human welfare. Students’ Science Seminar is a nationwide event being organized by the National Council of Science Museums (NCSM), an autonomous organisation under Indian Ministry of Culture, every year since 1982.
The Canadian Press WINNIPEG—An archive housing the national memory of residential schools is set to open its doors, but must balance concerns from survivors with educating the public about one of the darkest chapters in Canadian history.The National Centre for Truth and Reconciliation at the University of Manitoba will house millions of records collected by the Truth and Reconciliation Commission. The records _ some of which were sealed for decades _ include everything from school inspection reports to heartbreaking testimony from survivors who detailed graphic accounts of sexual and physical abuse.For survivors from across the country who have met with centre director Ry Moran, the archive is deeply personal and threatens to revictimize them if it isn’t handled carefully.Survivors who testified before the commission were allowed to dictate what part of their stories they wanted to be part of the public record. But government and church records in the archive contain personal medical information, racist language, details about family relationships and the names of survivors and their family members.“While we have a very pressing and very real mandate to make as much of the collection available as possible, we’re also being told to do no harm in the release of the information and do things in as respectful a way as possible,” Moran said in an interview.“What we’re hearing from survivors is, ‘We want Canadians to know what it was like for us in those schools, but we don’t necessarily want Canadians to have access to all of our personal, intimate details.’”About 150,000 First Nations, Inuit and Metis children were taken from their families and forced to attend the government schools over much of the last century in a bid to “take the Indian out of the child.”The last school closed outside Regina in 1996.The $60-million commission was part of a landmark compensation deal between Ottawa, the Crown and residential school survivors. It visited hundreds of communities and heard testimony from 7,000 survivors.The archive’s opening ceremonies are to be held next Tuesday and Wednesday. At the beginning, Moran said, the centre will be cautious about what records are publicly available.Public access may change over time but, for now, the wound of residential schools is still very raw, Moran said.“These, in many ways, are their records first, and it’s time to put them in the driver’s seat in terms of what happens with this material. For so long, they weren’t in the driver’s seat. It was disclosed by government agencies or not. It was locked up by the church archive or not.”Commissioner Marie Wilson said the centre’s goal is to further reconciliation—something that “can’t happen in sealed vaults.”She said there is no rush to immediately disclose all the commission’s government or church records. Names can eventually be redacted from government documents and the testimony from survivors will speak for itself.“Repeatedly, people say the most compelling part of all was hearing first-hand from survivors,” Wilson said. “We’ve got 7,000 statements. There is plenty there to satisfy the appetite of people just beginning to learn about all this.”Grand Chief Sheila North Wilson, who represents northern Manitoba First Nations, said centre is an important part of the journey toward healing. But it will take time and care must be taken not to revictimize survivors.“There is healing in looking at atrocities right in the face and then moving past it,” said North Wilson, whose mother went to a residential school. “I hope that this will help a lot of people heal.”
Facebook Twitter Google+LinkedInPinterestWhatsApp Providenciales, 06 Feb 2015 – By 12:15pm the entire State Funeral service for Hon Dr. Rosita Butterfield was over; well executed, touching, befitting and classy. At the Butterfield Mausoleum, Hon. Dr. Albray Butterfield Sr was very emotional, breaking down several times; there the Grandchildren as they tossed their red roses in with Dr. Rosie’s casket were visibly shaken by the farewell. We spoke to Albray Butterfield Jr. , her son.“I think it was a beautiful send-off and I think my mother is smiling today because I think she is very proud of the send-off that the People of the Turks and Caicos Islands and the Bahamian Government gave her. For that I say thank you to the Government, thank you to the Country, thank you to the People and thank you to the Bahamas Government and Thank you to the Royal Bahamas Police Force. Thank you.”Hundreds turned out to the service held at the down town ball park; we have posted nearly 90 photos of the event. Follow dee242649 on Instagram. Recommended for you Related Items:albray butterfield jr., Dr. Rosita Butterfield, farewell Recommendation for National Hero, Dr. Rosita named as ideal Letter to the Editor Calls for Dr. Rosie to be Named Nat’l Hero Facebook Twitter Google+LinkedInPinterestWhatsApp Humble beginnings remember for Hon. Dr Rosita Butterfield
Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppNassau, Bahamas, February 10, 2017 – Whatever it is that Loretta Butler Turner is reportedly trying to build, seems to be crumbling or at least stalled, as a new report surfaces of a political ally being at odds with the vociferous Long Island, MP. This time it is her own appointed Senator, DNA leader Branville McCartney, a fellow FNM defector who talks tough to Butler Turner and speaks frankly to the Nassau Guardian in a one on one. Electricity Cost of Service Study among the big agenda items at September 11 Cabinet meeting The confusion has elicited this from Minister Glennis Hanna Martin in the House of Assembly this week, “I’m one of those people I don’t explain much in him, and I sat and, you in Long Island, take a break man, you’ve got your hands full, don’t get in my business, don’t get in my business, you’ve got your hands full, sort out your business man, you’ve got a complicated life right now.” McCartney in reference to some comments made by Butler Turner that she was thrown under the bus by him, said that he reached out to her about the statement made in the House of Assembly. It appears to be some mix up over what he said and then what she said, after he reportedly said whatever it is that he said… not the kind of interactions Bahamians need to see so close to a General Election. Earlier this week it was reported that Neko Grant and Dr. Andre Rollins are both at odds with Loretta Butler Turner, who formed a political coup, many call it, to have Hubert Minnis removed as Opposition Leader of Business in the House of Assembly; it worked. Butler-Turner has since December 11, 2016 been Opposition Leader in the House. #MagneticMediaNews We pulled that audio (quote) from a 20-second video of Hanna Martin which is in wide social media circulation, where the Minister appears to be shutting down comments from across the aisle from the Long Island Member. Recommended for you ALERT # 2 ON POTENTIAL TROPICAL CYCLONE NINE ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY THURSDAY 12TH SEPTEMBER, 2019 AT 9 PM EDT The Luxury of Grace Bay in Down Town Provo Related Items:#magneticmedianews
Facebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, August 28, 2017 – Exuma – Millions of dollars in #marijuana were seized on Saturday in Williams Town, #Exuma and two Bahamian men are arrested but police say their arrests are just the beginning in this major investigation. It was obviously a huge haul, as the go fast boat seized in the bust was brought into Nassau and the 30 bales of marijuana were off loaded by the Drug Enforcement Unit of the Royal Bahamas Police Force.There were lots of hands on deck and Head of DEU, Samuel Butler explained that indeed it was, that the marijuana had a street value of $3.2m.#MagneticMediaNews Fyre Festival, a huge disaster Related Items:#magneticmedianews, exuma, marijuana Bahamas Police arrest two for armed robbery, 40lbs of ‘ganga’ Grand Bahama man pleads guilty in Exuma marijuana bust; four others charged in court Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsApp
(For further information please contact the RBDF Public Relations Department or visit our website: www.rbdf.gov.bs, follow us on Facebook, Twitter and view our Youtube channel) -rbdf-#GuardOurHeritage Related Items: Facebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, October 6, 2017 – Nassau – Several Officers and Marines from the Royal Bahamas Defence Force made a charitable donation to the Cancer Society of The Bahamas on Wednesday past.The group of men, which comprised Entry 20, presented a monetary donation to the president of Cancer Society, Dr. Williamson Chea, at the organization’s headquarters located East Terrace Centerville.The men of Entry 20 enlisted in the Royal Bahamas Defence Force on June 9, 1987 with a total of 65 individuals. To date, there are currently 23 active members still serving on the force. Commander Defence Force, Commodore Tellis Bethel lauds the efforts of the Officers and Marines who saw the need to support a great organization within our community.RBDF Cancer Society Photo shows: Some of the former and present members of Entry 20 making a monetary presentation to the Cancer Society of The Bahamas. From Left: Dr. Darius Anwala, Board Member Cancer Society, Stephen Pennerman, Dr. Williamson Chea, President of Cancer Society of The Bahamas, Lieutenant Commander Stephen Rolle, Chief Petty Officer Samuel Smith and Chief Petty Officer (Retired) Lorenzo Carey. (RBDF Photo by Marine Seaman Kyle Smith) Facebook Twitter Google+LinkedInPinterestWhatsApp
Chelsea Football Club manager Maurizio Sarri insists Eden Hazard can win more trophies and the Ballon d’Or if he decides to stay at Stamford Bridge.The Belgium captain leads the club’s scoring chart with 10 goals across all competition and is currently joint top scorer of the Premier League, level on goals with Pierre Emerick-Aubameyang of Arsenal.“Of course Eden for us he is a fantastic player,” Sarri said, according to Metro.“It will be very important for us if he will remain with us, it will be very important.”Maurizio Sarri satisfied despite Juventus’ draw at Fiorentina Andrew Smyth – September 14, 2019 Maurizio Sarri was satisfied with Juventus’ performance on Saturday afternoon after finishing a tough game at Fiorentina 0-0.“I think also he can win everything, also the Ballon D’Or, here without playing in Spain. ‘Chelsea will be able to win the Champions League, Belgium will be able to win the European Cup.”Hazard was absent during Chelsea’s Carabao Cup victory over Derby County on Wednesday night due to a back injury but is expected to return this weekend.Chelsea, third in the Premier League, welcome struggling Crystal Palace to Stamford Bridge on Sunday afternoon. The blues will be looking to maintain their unbeaten start to the season so far whilst putting pressure on league leaders, Manchester City and Liverpool.
This article first appears on FOLIO: sister site, min. After more than a decade as the lead digital-only fashion brand for Conde Nast and now under Fairchild Fashion Media, Style.com will put its brand on a print magazine in late October, the company announced earlier this week on its website and in media interviews. The $4.99 special issue is promising “to combine the immediacy of the digital experience with the richness of print,” according to Style.com.Read the rest of the story here.