Spotted Worlds Largest PCTC Arrives at JAXPORT

first_imgThe US Jacksonville Port Authority’s (JAXPORT) Blount Island Marine Terminal welcomed Höegh Target, the largest Pure Car and Truck Carrier (PCTC) in the world, on September 30, 2016. To mark the occasion, JAXPORT Executive Vice President and Chief Commercial Officer Roy Schleicher presented Captain She Wei Jun with a plaque on the bridge of the ship.The 8,500 CEU (car equivalent units) vessel, owned by Norwegian RoRo shipping company Höegh Autoliners, arrived at JAXPORT through the newly expanded Panama Canal locks.Earlier this month, the Höegh Target became first Neo-Panamax vessel to call Port Freeport, Texas.The Höegh Target is the first in a series of six Post-Panamax vessels under the Höegh Autoliners’ New Horizon design.Jacksonville is one of the nation’s busiest ports for total vehicle handling. Last year, JAXPORT moved nearly 657,000 vehicles, the largest volume since JAXPORT set an auto volume record in 2007.Image Courtesy: JAXPORTlast_img read more

"Spotted Worlds Largest PCTC Arrives at JAXPORT"

MHI Eyes Uncharted Waters on Its Way to Sustainable Growth

first_imgzoom Japan’s Mitsubishi Heavy Industries is set to enter uncharted territory starting from 2018 as the company aims to achieve sustainable growth.With its expanding activities in Japan, but also across Asia, the Americas and the rest of the world, MHI said it needs to continue to develop solutions that respond to global needs and “take on the world’s toughest challenges.”Together with expansion, the company aims for a future of sustainable development, as outlined in the UN Sustainable Development Goals.“MHI now stands at a crossroads in our evolution. We must create a new way forward that combines our core engineering strengths with revolutionary new advancements in IT and digital communications,” Shunichi Miyanaga, MHI President and CEO, said.Based on these fundamental guidelines, the company expects 2018 to be the first step towards a new stage of sustainable growth.With only three months remaining in the final year of MHI’s 2015 Medium-Term Business Plan, MHI informed that it has fallen short in reaching the financial targets set in the plan, despite implementing a number of measures.“While this is certainly disappointing, I want all of us to continue to make progress toward better results in the future,” Miyanaga added.The company will continue to make progress on the issues that remain. In May 2018, MHI is scheduled to release its new Medium-Term Business Plan, when it will take “the next step toward our new phase of sustainable growth.”last_img read more

"MHI Eyes Uncharted Waters on Its Way to Sustainable Growth"

CMHI Lays Keel for SunStone Ships Expedition Cruise Vessel

first_imgzoomImage Courtesy: CMHI Shipbuilder China Merchants Heavy Industry (CMHI) held a keel laying ceremony for a new expedition cruise vessel, being built for Miami-based SunStone Ships on June 12.With a Polar Class 6 notation, the vessel, named Greg Mortimer, is being constructed at the China Merchants Heavy Industry (CMHI) yard in Haimen.Featuring a length of 104.3 meters and a beam of 18.4 meters,t he vessel will be operating for Aurora Expeditions.The ship can accommodate a total of 255 persons, including crew. For expedition cruises in the polar regions, the vessel will take on 120 passengers.Norwegian ship designer Ulstein designed the polar class, X-BOW expedition cruise vessel, and provided the equipment package for one vessel and options for additional nine units.The equipment package includes the bridge system, ULSTEIN COM and integrated automation system ULSTEIN IAS and ULSTEIN POWER, and site team support to ensure the vessel delivery time.last_img read more

"CMHI Lays Keel for SunStone Ships Expedition Cruise Vessel"

Better TCE Rates Push Dorian LPGs Revenue Up

first_imgzoomImage Courtesy: Dorian LPG Gas carrier owner and operator Dorian LPG has witnessed an increase in revenues in the second quarter of fiscal year 2018, driven by an improvement in time charter equivalent (TCE) rates.The company said that its revenues for the quarter ended September 30 reached USD 40.8 million, rising by 17.5 percent from USD 34.7 million reported in the same period a year earlier. The increase is primarily attributable to a rise in average TCE rates and fleet utilization.Namely, TCE rate for the company’s fleet increased to USD 20,973 for the quarter from USD 18,015 earned in the same period in 2017.Dorian LPG also managed to shrink its net loss to USD 8.2 million, compared to a net loss of USD 11.9 million reported a year earlier.“Demand for VLGCs increased during our fiscal second quarter driven by increasing export volumes and end-user demand. This improvement is reflected in higher fleet utilization during the quarter and improvement in achieved TCE rates,” John C. Hadjipateras, Chairman, President and Chief Executive Officer, said.“While additional VLGCs scheduled for delivery in 2019 negatively impacts supply, we believe the market has become more balanced… We believe that we are well positioned to deliver strong cash flows throughout the market cycle as a result of our low leverage, no near-term debt maturities and a best-in-class fleet.”last_img read more

"Better TCE Rates Push Dorian LPGs Revenue Up"

ABP Thor Shipping Ink New 10Year Contract

first_imgzoomIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license Port operator Associated British Ports (ABP) has announced a new agreement which sees Thor Shipping & Transport commit 10 years to the Port of Hull.In addition, ABP has invested GBP 6 million (around USD 7.7 million) into Thor’s 10-acre leased terminal, allowing substantial infrastructure improvement works and an additional 2.5 acres of container storage space.As part of this investment, a hybrid GBP 3.5 million Liebherr harbor crane will arrive in March 2019 to bolster eco-friendly operations, the port said.Since July 2014, Thor has trebled its tonnage through the two-berth terminal on King George Dock. It has a regular container and breakbulk service from its own shortsea operator – Sunline – connecting the UK with the East Coast of Sweden twice a week.The company also facilitates vessels three times a week to Zeebrugge and a breakbulk liner service every fortnight from Finland and Iceland.“This agreement shows that both ABP and Thor are confident in committing to support the Humber region for a substantial amount of time, so much so, it’s double the length of the previous contract agreed in 2014,” Chris Green, ABP Port Manager for Hull and Goole, commented.This year, Thor hopes to see its strongest performance yet and expects to handle one million tons of cargo. In addition to containers, Thor’s other core business concerns steel and timber which boost the efficiency of the operation and reduce carbon footprint.“We look forward to continually building upon our international trade and transport links, helping to put the Humber on the map as a key gateway for trade. It will enable us to realise and sustain future growth opportunities,” Thomas Bryan, Thor Shipping and Transport Managing Director, said.last_img read more

"ABP Thor Shipping Ink New 10Year Contract"

Parking Lot Paving for Peggys Cove

first_imgVisitors to Peggys Cove, one of Canada’s most popular tourism sites, will be greeted by an upgraded parking surface as a result of a paving tender called by the province. The Department of Transportation and Public Works’ tender calls for repaving of the Peggys Cove parking lot to be completed during the current construction season. This paving project is part of a larger enhancement program underway in Peggys Cove. In support of recommendations made in the Peggys Cove Assessment Study, the Department of Tourism, Culture and Heritage is investing $834,000 for work that includes the creation of an interpretive program and enhancements to the visitor information centre. “Since Peggys Cove hosts more than 600,000 visitors every year the parking lot is a very busy spot,” said Michael Baker, acting Minister of Transportation and Public Works. “Peggys Cove is Nova Scotia’s most recognizable tourism symbol and it’s essential that we keep it in top shape.” The Department of Transportation and Public Works’ highways division manages more than 23,000 kilometres of roads in Nova Scotia. It maintains 4,100 bridges and operates seven provincial ferries. Staff provide services from district offices in Bridgewater, Bedford, Truro and Sydney.last_img read more

"Parking Lot Paving for Peggys Cove"

Mandatory Physical Education Credit on the Way

first_img FOR BROADCAST: This government is moving forward on its commitment to make physical education mandatory at the high school level. Many Nova Scotia high schools will be expanding physical education programs this September, with all high schools introducing a compulsory course in September 2008, Education Minister Karen Casey announced today (February 20th). Students entering Grade 10 in September 2008 will be required to earn a physical education credit over their years in high school to graduate. The credit can be offered at Grade 10, 11 or 12 levels, or through a combination of half-credits. -30- More students will be hitting gym mats, tossing stability balls and breaking a sweat outside gym walls beginning next fall as the province puts increased emphasis on student health and fitness. Many Nova Scotia high schools will begin expanding physical education programs beginning in September, with all high schools introducing a compulsory credit requirement in September 2008, Education Minister Karen Casey announced today, Feb. 20. “This government is moving forward on its commitment to make physical education mandatory at the high school level,” said Ms. Casey. “Investing in a strong physical education program, delivered by qualified teachers, is all part of our effort to provide our students with a healthy, physically active school experience from Primary through to graduation.” Students entering Grade 10 in September 2008 will be required to earn a physical education credit over their years in high school to graduate. The credit can be taken at Grade 10, 11 or 12 levels, or through a combination of half-credits. Phys Ed is already a mandatory subject from Primary to Grade 9. Students graduating in 2011 will need a minimum of 19 credits to earn a Nova Scotia high school diploma, with the number of compulsory credits increasing to 14 from 13. Many of the province’s 98 high schools will be prepared to expand student enrolment in physical education beginning in the 2007-08 school year, and have been urged to do so by the Department. Department staff will continue to work with boards to plan and support implementation of the new physical education curriculum and new graduation requirement over the next year. “Physical education not only builds strong bodies but strong minds, as well,” said Ms. Casey. “A healthy student is better able to learn.” The minister said the extra lead time to introduce the mandatory credit will give the department and boards the time they need to resolve issues such as scheduling, facilities and staffing. The province has been working with school boards to provide quality physical education programs in schools, as well as helping promote physical activity beyond the instructional program. The department invested $560,000 this year to hire 10 additional physical education teachers in grades 3 to 6, plus another $512,000 in 2005-06 to hire Healthy Active Living Consultants to lead and support physical and health education at each board. “Schools are doing their part, but they are only part of the solution,” said Ms. Casey. “Solving the problem of youth inactivity is a shared responsibility.”last_img read more

"Mandatory Physical Education Credit on the Way"

Tender Called for Paving Louisbourg Highway

first_imgThe road between Sydney and the historic Town of Louisbourg will soon be stronger and smoother after the completion of a paving tender called by the Department of Transportation and Public Works. The tender involves repaving on Trunk 22 (Louisbourg Highway)from the intersection of Highway 125 for 6.8 kilometres to the intersection of Landry Crescent. Also included is repaving of Waterview Drive from the intersection of Coxheath Road for 0.6 kilometres to its end and on Kimar Drive from the intersection of Waterview Drive for 0.2 kilometres. “This tender call is the second in a five-year program to upgrade all of Trunk 22 between Sydney and Louisbourg,” said Angus MacIsaac, Minister of Transportation and Public Works. “The other three projects are scheduled to be completed by 2010.” The Department of Transportation and Public Works’ highways division manages more than 23,000 kilometres of roads in Nova Scotia. It maintains 4,100 bridges and operates seven provincial ferries. Staff provide services from district offices in Bridgewater, Bedford, Truro, and Sydney.last_img read more

"Tender Called for Paving Louisbourg Highway"

Immigration Minister Welcomes Auditor General Review

first_imgMinister of Immigration Len Goucher is welcoming a review of the provincial nominee program by the auditor general. The legislature’s public accounts committee voted to request the audit at its meeting today, Oct.31. “A lot of things have been said about the nominee program over the last few weeks and there continues to be some confusion,” said Mr. Goucher. “The auditor general’s examination will provide independent confirmation of the many things we’re doing well and point out any areas in which we might improve. I welcome his review and commit to fully co-operate with his staff.” The minister also said that an independent investigation was launched earlier today by the Office of Immigration. “When I took on this portfolio, I committed to being open and transparent. Late yesterday afternoon, my senior management team brought to my attention a file that could involve potential conflict of interest and an independent review is now underway. We have contracted the services of an outside auditor who has already begun his work. “A great deal of good work is being done by a small staff of very dedicated people in the Office of Immigration,” said Mr. Goucher. “But we need more than good work. We also need public confidence in our efforts to attract immigrants, just as we need public confidence in any other government program.”last_img read more

"Immigration Minister Welcomes Auditor General Review"

Province to Invest in Health Care

first_imgThe departments of Health and Health Promotion and Protection have confirmed that budgets for hospital-based services will increase in 2009-10. The information has been shared with districts to allow for business planning for the new fiscal year. All nine health authorities and the IWK Health Centre will receive a four per cent increase to operational or non-wage budgets, as well as full funding for wage and benefit increases. The Department of Health has provided the district health authorities and the IWK with consistent increases in operational funding since 2003-04. In addition to the four per cent increase, another $10 million will be provided for medical equipment. “Despite challenging economic conditions, investing in our health system is the right thing to do for Nova Scotians,” said Health Minister Karen Casey. “We are pleased that we were able to continue to provide new money in this difficult financial climate. We know other provinces have not been so lucky. “And we are pleased to be providing a specific amount for replacing or adding new equipment because maintaining our facilities is extremely important.” The nine districts receive operational funding for public health and addictions services from the Department of Health Promotion and Protection. The nine districts and the IWK receive all other operational funding from the Department of Health. “We worked hard this year to protect as much funding as possible for public health and addictions services in the district health authorities,” said Health Promotion and Protection Minister Pat Dunn. “We are continuing to invest in quality programs and services to help more Nova Scotians be healthy and safe.” Nova Scotia is one of the only provinces to provide increases to the health system while balancing its provincial budget. District health authorities and the IWK Health Centre received $1.398 billion in 2008-09 for health-care budgets, including wages and benefits.last_img read more

"Province to Invest in Health Care"

Traffic Advisory Halifax Regional Municipality

first_imgHALIFAX REGIONAL MUNICIPALITY: Highway 102, Paving Near Airport Repaving of the northbound lanes of Highway 102 may cause delays for drivers approaching the Robert L. Stanfield International Airport from Halifax. Work is taking place from south of Exit 5A (Aerotech Park) to Exit 6 (airport). Two of the three northbound lanes on Highway 102 will remain open during peak hours but traffic will be reduced to one lane daily from 10 a.m. to 2 p.m. Access to the airport via Bell Boulevard will be maintained at all times. All three lanes will remain open during the July long weekend from 3 p.m. Wednesday, June 30 until 6 a.m. Monday, July 5. The project is scheduled for completion at the end of July. Drivers heading to the airport should travel with care and give themselves extra time during the construction period. Local Area Office: 902-424-6144 -30-last_img read more

"Traffic Advisory Halifax Regional Municipality"

Province Celebrates Diversity Social Inclusion with Grants

first_img increasing knowledge and awareness of physicians and staff toward members of the transgender and gender non-conforming community in Capital District Health Authority working with African Nova Scotian communities in Antigonish and Guysborough to better understand issues for health promotion and protection, and how to address them developing pride employee resource group activities in Cape Breton District Health Authority Health information for Nova Scotians in diverse cultural groups will be easier to understand and more relevant because of provincial investments. “Part of what makes our province special is our diversity and the different populations who call Nova Scotia home,” said David Wilson, Minister of Health and Wellness. “These grants help ensure that we integrate cultural and social diversity in our day-to-day work.” The Diversity and Social Inclusion Grants are available to all district health authorities, the IWK and provincial programs, to support health care delivery that respects a diverse population. The guidelines are for health care professionals and partners who include cultural identity and unique needs into health information, programs and services. “This grant helps us deliver programs that provide an inclusive and safe environment for all our patients, families, staff and physicians,” said Cybelle Rieber, prideHealth co-ordinator. “This year, we will use the grant to replace signage on over 200 single-stall washrooms in our facilities across the district to include a transgender symbol.” This year, $155,000 will be given to the health authorities and IWK for projects including: For more information on the province’s cultural competence guidelines, visit www.gov.ns.ca/health/primaryhealthcare/diversity.asp .last_img read more

"Province Celebrates Diversity Social Inclusion with Grants"

Panel Urges Nova Scotians to Act Now to Improve Education System

first_img The survey, discussion guide and submission information are available at http://novascotia.ca/review . The deadline for submissions is Friday, June 13. The panel looking for views on education has issued a challenge to all Nova Scotians: if you want change, get involved. Myra Freeman, chair of the Minister’s Panel on Education, launched the challenge today, May 8, while visiting students at Prince Andrew High School who were filling out the education review survey. Ms. Freeman encouraged the teachers and students to spread the word among their peers. “This is the first opportunity in 25 years for Nova Scotians to effect change in the education system,” said Ms. Freeman. “We want everyone including students, parents, educators and community members, to help us shape the future of education in Nova Scotia.” The Ivany Report challenged Nova Scotians to think differently and the review is one of the first opportunities Nova Scotians have to express their personal opinions on changes that need to happen. Panel members also led discussion groups around the province using the guide that was developed to help gather feedback. Gordon MacInnis led a session at a library in Sydney with parents and business leaders, Donna O’Connell led a session in Amherst with students from Amherst Regional High School, and Tina Dixon met with community members in Bear River. They are encouraging all Nova Scotians to do the same. “The guide will enable like-minded groups to come together to identify issues and bring them forward to the panel,” said Ms. Freeman. “I challenge students, teachers, parents and guardians, community and business partners, education groups and others to meet as a group to talk about the school system.” The guide provides a series of questions and conversation starters and each section includes facilitator notes, discussion questions and space to record input. Summaries of group discussions can be sent to the panel by e-mail or post. Nova Scotians can also share comments, ideas and feedback by e-mailing educationreview@gov.ns.cacenter_img phoning 1-844-424-3777 tweeting at @NSEdReview mailing them to the Minister’s Panel on Education c/o Department of Education and Early Childhood Development, P.O. Box 578, Halifax, N.S., B3J 2S9.last_img read more

"Panel Urges Nova Scotians to Act Now to Improve Education System"

Nova Scotia First in Canada to Unveil Project CTO Plaque

first_imgPremier Stephen McNeil recognized Project CTO’s work to commemorate internments in Canada during, and immediately after, the First World War. The first of 100 plaque unveilings planned across the country today, Aug. 22, was held at the Cumberland County Museum and Archives in Amherst at 11 a.m. The project is sponsored by the Ukrainian Canadian Civil Liberties Association and the Canadian First World War Internment Recognition Fund. “Ensuring freedoms and legal protections for all residents of our country is a hallmark of a strong and healthy democracy,” said Premier McNeil. “The unveiling of these plaques across Canada reaffirms the commitment of Canadians to a more peaceful world where the rights of all individuals and communities are respected. “I would like to thank the Ukrainian Canadian Civil Liberties Association and the Canadian First World War Internment Recognition Fund for making this possible.” Marking the centennial of the start of the war and the War Measures Act, Project CTO is unveiling the plaques across the country at 11 a.m., local time, to raise awareness of the first time Canada imprisoned people of ethnic heritage it considered a threat during a time of conflict. The plaques are being unveiled in churches, cultural sites, museums and other public spaces across the country. They encourage Canadians to remember the victims of the internment operations who were branded “enemy aliens.” They included people of Armenian, Croatian, German, Hungarian, Serbian and Ukrainian heritage. More information about Project CTO is available at www.uccla.ca and www.internmentcanada.ca .last_img read more

"Nova Scotia First in Canada to Unveil Project CTO Plaque"

Support for Survivors of Sexual Assault Expanded

first_img For more information on the program, visit http://www.novascotia.ca/sexualassaultlegaladvice . Survivors of sexual assault will have access to 11 more lawyers providing free, independent legal advice. A federal-provincial pilot project gives assault survivors up to four hours of free legal advice. Eleven lawyers from across the province are being added, for a total of 19 lawyers providing advice. “Survivors of sexual assault need support,” said Justice Minister and Attorney General Mark Furey. “By expanding the program, we’re ensuring individuals have better access to the important advice they need, and from someone they feel comfortable working with.” The expanded coverage also includes enhanced diversity, with lawyers from the Cantonese, LGBTQI+, Indigenous and African Nova Scotian communities. The lawyers are from Sydney (2), Port Hawkesbury, Truro, Chester and Halifax (6). All have received specialized training. Since the program launched in November 2017, 71 individuals have signed up to access the free legal advice. 211 Nova Scotia, operating independently from government, provides intake, information and administration of the certificates for the program and helps clients access these legal services. Nova Scotia has been working on several initiatives to respond to the needs of survivors of sexual assault. They include: hiring two special prosecutors in the Public Prosecution Service who are dedicated to sexual assault cases conducting police audits to ensure police have the appropriate capability to investigate sexual assaults launching the domestic violence court in Halifax Regional Municipality last_img read more

"Support for Survivors of Sexual Assault Expanded"

Three women thieves who targeted railway and metro stations nabbed

first_imgNew Delhi: Stay alert, while using the escalators at railway stations, female thieves can be around you. In a recent case, a joint team of Delhi Police and Railway Protection Force (RPF) busted a gang of women thieves.The accused were arrested with the help of CCTV footage at Hazrat Nizamuddin Railway station. According to RPF, on May 29, a lady passenger reported that while she was coming back from the train at Nizamuddin railway station, someone stole her pouch of jewellery worth Rs five lakh by opening her handbag’s chain, most probably at the escalator. Also Read – Cylinder blast kills mother and daughter in Karawal NagarThe complainant was called through the given mobile number. Using the CCTV footage, the suspected ladies were identified and their photographs were taken on record. “Dossier of accused ladies obtained and recce conducted on addressed mentioned in the dossier address but jhuggi had been found demolished,” an RPF officer said. Information was shared with a reliable source following which three women arrested by the joint team GRP Nizamuddin and IPF RPF Also Read – Two persons arrested for killing manager of Muthoot FinanceNizamuddin. RPF further added that all the arrested accused are habitual in theft of passengers’ belongings (TOPB) and accused in cases of similar nature of crimes at Old Delhi railway station and metro stations of Delhi area. “The modus operandi of the gang is encircling the target especially women passenger carrying handbag by women criminals with the kid in their lap. Stealing during walking or mostly at the escalator,” said an RPF official. SC Jain, Divisional Railway Manager, said that during 2019, so far nine cases of TOPB have been detected with the help of CCTV footage, by RPF personnel at Hazrat Nizamuddin post. Senior Divisional Security Commissioner (Coordination) Dr AN Jha said,”Electronic eye (CCTV) is watching all criminals. Today or tomorrow we will catch such criminals.” The team of RPF was under Security Commissioner (East) Priyanka Sharma.last_img read more

"Three women thieves who targeted railway and metro stations nabbed"

Delhi doctor detained in Kanpur kidney racket case

first_imgLucknow: A doctor of a private hospital in Delhi has been detained by the Kanpur police in connection with its probe into a kidney racket, which was busted in February, an official said Saturday. “Dr Dipak Shukla was detained in Delhi on Friday night and has been brought to Kanpur for investigation,” Superintendent of Police (Crime), Kanpur, Rajesh Yadav, told PTI over phone. Shukla is the CEO of a private hospital in Delhi and was detained by a Special Investigation Team, he said, without elaborating on details of the probe. Also Read – Cylinder blast kills mother and daughter in Karawal Nagar Eight people, including the racket’s alleged kingpin Gaurav Mishra, have been arrested in the case till now. The international kidney racket was busted on February 17. People involved in it used to remove kidney of poor people illegally and sent it for transplant into patients, including foreigners. Police have arrested Gaurav Mishra of Lakhimpur Khiri, T Rajkumar Rao of Kolkata, Shailesh Saxena of Badarpur in New Delhi, Saboor Ahmad of Kakori in Lucknow, Vicky Singh of Panki in Kanpur and Shamshad Ali of Chowk in Lucknow, Shyam Tiwari and Ramu Pandey in the case. Going by the investigations, almost all the donors have accused Gaurav Mishra of trapping them.last_img read more

"Delhi doctor detained in Kanpur kidney racket case"

Ahead of the rate cut

first_imgThe Reserve Bank of India (RBI) rate cut is expected to provide a boost to the economy. Lower interest rates will help in providing support to the economy but are not the sole elixir that India needs. The focus must not be just on the immediate economic issues but on the broader target of implementing changes that have a long-lasting positive impact on the economy. Two issues that merit significant attention are: Further boosting the liquidity and depth of the government bond futures market and Consolidation of the public sector banks in India. Indian policymakers and the central bank need to start creating a roadmap for greater participation of investors to develop further liquidity in the government bond futures market in India. Further development of the market involves complicated intricacies such as a better market design that allows greater participation by a variety of investors including foreign ones. However, in the long-run the government bond futures market is indispensable to India’s financial market development. Also Read – A staunch allyIssues such as illiquid mispriced loans, incorrect pricing of credit risk, and an over-dependence on bank loans versus corporate bonds have plagued the Indian credit markets. At a fundamental level, resolving these issues requires further improvement in the liquidity of the benchmark government bond future that can effectively form the base of the market. Solutions to tide over the current credit issues are critical, but it is imperative that structural problems in the credit markets are addressed. Also Read – Cuban pathosThe primary advantage of a liquid and deep government bond futures market with increased participation by both domestic and foreign investors will be the provision of liquidity to the benchmark government bond curve, which in turn will allow other fixed-income instruments to be priced as a spread to it. Building liquidity in the benchmark government bond curve, especially in the longer end of the curve, is essential to creating robust lending markets in India. Higher liquidity in the government bond futures market will allow the development of the long-end lending instruments so crucial to infrastructure investments in India. One of the primary reasons as to why long-term lending is challenging in India is the lack of liquid interest rate hedging instruments in the longer tenures. A more robust benchmark government bond market will also expedite the development of a liquid corporate bond market. This liquid corporate bond market with active price discovery is the vital base required for better pricing of credit risk by market players. Not creating structural changes leaves us exposed to repeating the mistakes of the past. As is clearly illustrated, the greater focus on the government bond futures market will significantly assist in achieving the targets of greater long-term infrastructure, and more liquid corporate bond markets – the two objectives that are high on the priority list. The consolidation in the Public Sector Banks (PSBs) through the mergers last year is another vital issue that the government needs to continue to focus on. A multitude of government-backed banks, all of which have similar roles has been one factor that has led to significant credit problems in the economy. A look at the list of creditors in the bankruptcy courts in India throws up a myriad of PSBs, all of which mostly have the same credit exposure. The PSBs should be aggregated to avoid situations whereby lending continues unabated even as the credit quality of the borrower declines. Bank mergers are not a simple and easy process but are a must towards ensuring that poor lending practices of the past are not repeated in the future. That said, PSB mergers must always be done to create an organisation that is larger than the sum of the parts. For instance, regional synergies and diversity in the type of clients on the loan books (corporate versus retail) must all be considered to create larger, more successful PSBs. Time devoted to creating robust organisations is well worth the effort. The changes regarding creating a more liquid and functional government bond futures market and larger PSBs are all long-term changes that will deliver returns in terms of a stronger financial foundation on which to build India’s economic growth story. The government and the various stakeholders together would do well to start creating a roadmap for the efficient implementation of the much-needed changes. That said, patience will be of the essence to eventually deliver these changes. (The author heads Development Tracks, an infrastructure advisory firm. The views expressed are strictly personal)last_img read more

"Ahead of the rate cut"

Coach Igor Stimac names 25member probable list

first_imgNew Delhi: Indian football team coach Igor Stimac Friday named a list of 25 players ahead of the Intercontinental Cup, slated to kick off at the EKA Arena, Ahmedabad from July 7. Defending champions India take on Tajikistan in their first match on the opening day, while Syria and North Korea are the other two participating teams. All teams will play each other once with the top two making it to the final. Stimac stated that “all players worked really hard at the preparatory camp in Mumbai”. Also Read – Dhoni, Paes spotted playing football together”We are satisfied with the execution of work for the past ten days,” he informed. “The players worked really hard, and we are all very enthusiastic about our upcoming games,” he added. Indian Arrows defender Narender Gahlot was named in the list along with Mandar Rao Desai. The list will be pruned to 23 prior to the start of the tournament. This is the first time Gujarat is hosting a a senior men’s international competition. Stimac, who coached Croatia to the 2014 FIFA World Cup, said, “All our work has been programmed to get us in form for the qualifiers.” The 2022 FIFA World Cup qualifiers kick off in September, the draw for which is slated for later this month. Also Read – Andy Murray to make Grand Slam return at Australian Open”Once again, I will use the upcoming games in the tournament to have a look at all the players in action. Each one of them deserve the chance,” the coach explained. Stimac had summoned a list of 35 players for the preparatory camp in Mumbai which kicked off on June 25. The 10 players who were released include Vishal Kaith, Nishu Kumar, Salam Ranjan Singh, Sarthak Golui, Anwar Ali, Raynier Fernandes, Michael Soosairaj, Nikhil Poojary, Jackiechand Singh, and Balwant Singh, while Ashique Kuruniyan was earlier released from the camp. The list of 25 stay as follows: GOALKEEPERS: Gurpreet Singh Sandhu, Amrinder Singh, Kamaljit Singh. DEFENDERS: Pritam Kotal, Rahul Bheke, Sandesh Jhingan, Adil Khan, Anas Edathodika, Narender Gahlot, Subhasish Bose, Jerry Lalrinzuala. MIDFIELDERS: Udanta Singh, Brandon Fernandes, Anirudh Thapa, Pronay Halder, Rowllin Borges, Vinit Rai, Sahal Abdul, Amarjit Singh, Lallianzuala Chhangte, Mandar Rao Desai. FORWARDS: Jobby Justin, Sunil Chhetri, Farukh Choudhary, Manvir Singh.last_img read more

"Coach Igor Stimac names 25member probable list"