Govt silent on progress report on interested investors

first_imgClosed sugar estates…$132.5 million interest past due on unused $30billion bondThe work of the Special Purpose Unit (SPU) with regard to potential investors and the progress of divestment of the four closed sugar estates is still to be revealed to the public.In November last year, the SPU had released a list of five bids that were submitted for the sugar estates of Enmore, Skeldon and Rose Hall. PricewaterhouseCoopers (PWC) closed off the bidding process for offers on the estates on October 31, 2018.Closed: East Demerara Sugar EstateDemerara Distillers Limited (DDL) was expected to submit a bid for the Enmore Sugar Estate, however, the company announced that “intense deliberation” led the company to backpedal on that consideration.The company’s primary reason for considering an offer was because of its need for molasses, of which, the company experienced a shortfall after the closure of the three Guyana Sugar Corporation (GuySuCo) estates, the release stated. DDL refused to submit a bid because it could not find a model for the Enmore estate that would fit its current investment and development strategy, in-keeping with the information memorandum governing the bidding process.PWC’s Managing Director, Wilfred Baghaloo, at that time had said he was appointed “to oversee certain aspects of the privatisation” of the three sugar estates. Baghaloo oversaw the beginning of the marketing period in July, last. This process involved the placement of advertisements in media publications in Guyana, Jamaica, Barbados, Belize and Trinidad, since those Caribbean markets comprise companies in the business of sugar production.For the estates, PWC’s San Francisco team was at that time in the process of doing a business evaluation, which is based on future cash flows and historical earnings, and an assets valuation, which will be based on the market price of individual assets driven by age, functionality and manufacture type, among other valuation criteria.Closed: Rosehall Sugar EstateBaghaloo and his team had intended, prior to the evaluation of each offer, to determine whether the bid proposals are in-keeping with the terms of the information memorandum that they were provided.Privatisation Specialist of NICIL, Shawn Persaud, at that time said the bids will be considered on the premise that they intend to utilise the estates for works in the cane industry, not limited to sugar, This, he explained, is because it is hoped that the successful awardee(s) of the leases will re-employ the skilled workers who were laid off after those estates were closed.SilenceHowever, since this year began, no word has come from the Government as to the position of those four sugar estates it had shut down which had resulted in thousands of sugar workers being left jobless.Agriculture Minister Noel Holder told this newspaper when contacted that he did not have that information, since the management and decisions made in relation to those closed estates in question are not in his domain.“Cabinet made a decision that we are going to right size the industry and just concentrate of three estates for sugar that falls under the Agriculture Minister. There was a Special Purpose Unit created under the Finance Minister to divest the four estates; Wales, Rose Hall, Skeldon and Enmore.They are looking at that, I should not pronounce on that, because that is not within my portfolio. You will have to talk to the Finance Minister for that,” he stated.Attempts by Guyana Times to contact Finance Minister Winston Jordan, proved futile.The SPU under NICIL secured a $30 billion through commercials banks, both in Guyana and the Region, as part of the diversification initiatives. The bond was secured solely by bondholders in the Government, and not against any assets of NICIL or GuySuCo.The commercial lending rate for Guyana at the time was 13.0 per cent, while the NICIL bond was issued at 4.75 per cent, which is 8.25 per cent lower than the rate that most companies borrow at in Guyana.last_img read more

Manchester United ‘punished’ over fixtures: Mourinho

first_imgBut the demands of the live television schedules means that clubs can have vastly different recuperation times between games in that holiday spell.Arsenal, for example, started their run of games by playing Liverpool on Friday but then do not play again until making the short journey to Crystal Palace on Thursday 28 — a recovery period of five full days.In contrast, second-placed United — 11 points behind Manchester City — play Leicester in a late kick-off on Saturday and are in action again, at home to Burnley, on December 26, offering Mourinho’s team a rest of only two days.Mourinho’s staff have made a detailed study of the respective itineraries of all Premier League clubs and, while the United manager does not claim his to be the only team adversely affected, he does believe they are being punished.“We are not the only ones,” said Mourinho. “There are other teams in the same situation as we are and Leicester is one of them in the same situation as we are.“We did the simple objective study on that and there is a big gap, a really big gap between some clubs and other clubs.“There are clearly the ones that are really privileged and there are clearly another group of the ones that are really punished by the decisions of the calendar.“And there are another group in the middle of it where I would like to be. I know I would never be in the top group but in the middle group we would like to be.”When pressed further on whether he believed he and United were deliberately being singled out, Mourinho was evasive.– Fixture pile-up –The upcoming fixture congestion will place greater stress than ever on Mourinho’s first team squad and that of all his rivals.That could mean more playing time for veteran Zlatan Ibrahimovic, who started his first game of the season in the midweek League Cup defeat at Bristol City after recovering from a career-threatening knee injury.Ibrahimovic has yet to play a full 90 minutes since his injury in April although Mourinho clearly expects him to play a significant role, either as an orthodox forward or in a number 10 role.“Yes. He is an option,” said the United boss. “He played one hour, a bit more. Could be he is ready to start the match. Ninety minutes is probably too much, it depends on the match, but I think, yes, I think he is ready to start.”Mourinho learned this week that the FA is to take no action against his club, or rivals Manchester City, for an altercation that took place in the Old Trafford tunnel following the recent derby game.A member of Mourinho’s staff was reportedly struck by milk contained in a plastic bottle. When asked whether he was pleased with the FA’s decision, he said: “You have to ask the people who hit with a bottle.”0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Manchester United’s manager Jose Mourinho’s staff have made a detailed study of the respective itineraries of all Premier League clubs © AFP/File / Geoff CADDICKLONDON, United Kingdom, Dec 23 – Jose Mourinho believes Manchester United are being “punished” by the Premier League fixture list as they embark on the busy festive period, desperately trying to cling onto Manchester City’s coat-tails.In a period that starts on December 22 and ends with the third round of the FA Cup on the weekend of January 6, all top-flight clubs will play five fixtures.last_img read more

Senegal give Africans joy in Poland win

first_img0Shares0000Senegal are playing at a World Cup for the first time since their debut tournament in 2002 and made an instant impact. Photo/GETTYMOSCOW, Russia, June 19 – Senegal recorded the first African win at the 2018 World Cup when they beat Poland 2-1 on Tuesday thanks to a deflected Thiago Cionek own goal and a terrible error by Polish ‘keeper Wojciech Szczesny.West Bromwich Albion midfielder Grzegorz Krychowiak got Poland back in the game with an 86th-minute header but Senegal hung on at Moscow’s Spartak Stadium. In a match billed as a straight fight between super-strikers Robert Lewandowski and Sadio Mane, neither scored but Liverpool striker Mane set up Idrissa Gueye for the shot that took a wicked deflection off Cionek, leaving Szczesny totally wrong-footed in the Polish goal for Senegal’s opener on 37 minutes.The west Africans doubled their lead on the 60-minute mark when the experienced Juventus goalkeeper had a moment to forget.Senegal’s Mbaye Niang celebrates a goal against Poland at the World Cup in RussiaKrychowiak put Poland in trouble with a woeful bouncing back pass, but Szczesny opted rashly to charge out of his penalty area. The speedy Mbaye Niang got in front of his defender, nicked the ball away from Szczesny and rolled it into the empty net.The goal sparked wild celebrations among the Senegalese players and incredulity among Poland’s.After a tight first half hour, it was the always-threatening Niang who was at the heart of Senegal’s opening goal.The Torino winger won the ball on the halfway line and fed Mane who rolled it sideways to Everton striker Gueye, whose shot skewed off Cionek’s leg and into the net.Senegal, the 2002 quarter-finalists, could have pressed home their advantage two minutes later but Salif Sane failed to connect with a header.Wojciech Szczesny looked crestfallen after Mbaye Niang scored following his errorMinutes after half-time, Sane was fortunate not to be sent off for a challenge on Lewandowski when he brought down the Polish striker as he charged towards goal. He escaped with a yellow card.Lewandowski curled the free kick over the Senegal wall but Khadim Ndiaye — the only African-based player in Senegal’s squad — pushed it away.Krychowiak connected with Kamil Grosicki’s cross to give Poland hope, but they were unable to make up the deficit despite four minutes of injury time.On Sunday, Senegal play Japan, who beat Colombia 2-1 earlier in the day, while Poland will face the South Americans.0Shares0000(Visited 1 times, 1 visits today)last_img read more

Amnesty ‘deeply concerned’ about Alberta’s plans to fight oil industry foes

first_img“Amnesty International is also gravely concerned that these initiatives, and the rhetoric surrounding them, feeds into a worsening climate of hostility towards human rights defenders — particularly Indigenous, women and environmental human rights defenders — exposing them to intimidation and threats, including threats of violence,” the letter to Kenney states. CALGARY — Amnesty International says it’s “deeply concerned” about the Alberta government’s plans to fight back against oil and gas industry critics.Alex Neve, secretary general of the human rights group’s Canadian branch, has written a letter to Alberta Premier Jason Kenney.In it, Neve urges Kenney to abandon his “fight back strategy” as currently envisioned.- Advertisement -The strategy includes a public inquiry into foreign funding of environmental groups and a $30-million war room to take on critics through ads and social media.Neve writes that Amnesty is worried those initiatives undermine and violate a range of Alberta’s human rights obligations under the Charter of Rights and Freedoms and international law.He says those include freedom of expression, freedom of association as well as the rights of Indigenous peoples and gender equality.Advertisement The Canadian Presslast_img read more

Exclusive – Cech set for Chelsea exit if Courtois is handed No.1 spot, claims Bosnich

first_imgFormer Chelsea goalkeeper Mark Bosnich believes Petr Cech will leave the Blues this summer if he is forced to play second fiddle to Thibaut Courtois.The Belgian youngster has returned from a three-year loan spell at La Liga winners Atletico Madrid, having joined the west London club in 2011.Cech has been ever-present at Stamford Bridge during that time, winning the FA Cup, Champions League and Europa League titles in the process.But Courtois is expected to be handed the No.1 shirt at Chelsea, following his exploits with the Spanish giants, and that could mean the end for the Czech shot-stopper, according to Bosnich.“Petr Cech has been fantastic in the ten years he’s been at Chelsea,” he told the Alan Brazil Sports Breakfast show. “It’s very difficult, for a man of his age, not to be playing though.“Courtois is probably the best young goalkeeper in the world at the moment.“Cech is 32 years of age, he won’t be happy just being sat on the bench. He’ll have to leave.” 1 Petr Cech and Thibaut Courtois last_img read more

Sergio Ramos update: ‘Man United target 100 per cent wants to leave Real Madrid’

first_imgManchester United target Sergio Ramos does want to leave Real Madrid – despite his mum saying otherwise.The defender is not just after a monster pay rise, instead he has become frustrated with the constant criticism from Real’s fans and life under the spotlight in the spanish capital as a Galactico.Spanish paper Marca, the sports paper most closely affiliated with Real, claims the World Cup winner has carefully considered his career and is now 100 per cent set on ending his time at the Bernabeu.Initially the player was angling for a new contract but the ongoing wrangle with club president Florentino Perez has left him feeling alienated and unwanted and he has been particularly put out by he and his brother and agent Rene being labelled money-grabbers.Ramos is also a close friend of club legend Iker Casillas who he feels has been poorly treated by the club in recent seasons – particularly with their public pursuit of United goalkeeper David De Gea. 1 Sergio Ramos last_img read more


first_imgUNDERCOVER PSNI officers have seized three mortars and arrested two men travelling from Donegal to carry out an attack in Derry.The old Letterkenny Road has been closed for a number of hours as the operation continues and Gardai and the PSNI say it will remain closed overnight.The van was intercepted in the Brandywell area. More than 100 families had to be evacuated from their homes as part of an operation which is understood to have involved a cross-Border operation involving Gardai and PSNI officers.Bomb disposal experts are spending the night examining the mortars.SDLP politician Pat Ramsey confirmed that he believed the interception of the southern-registered van was a result of an undercover operation.“One can only say that in the circumstances it would appear to be a good bit of intelligence by the police and that is most welcome,” he said. “These bombs were in transit somewhere, possibly to cause mayhem, if not murder, in our city.”Local families were evacuated to a community centre and to Celtic Park.It’s thought the would-be bombers were traced across the Border during an intelligence-led operation.Donegal Daily has been told the two men arrested are senior dissident republicans.A third man was arrested in a follow-up operation early this morning. BREAKING NEWS: COPS SEIZE DONEGAL BOMB TEAM ON WAY TO DERRY ATTACK was last modified: March 4th, 2013 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:BREAKING NEWS: COPS SEIZE DONEGAL BOMB TEAM ON WAY TO DERRY ATTACKlast_img read more

Children discharged from hospital following weekend Aura incident

first_imgTwo children have been discharged from Letterkenny University Hospital following Saturday’s incident at the Aura Leisure Centre.The two young boys spent Saturday night in LUH – one of them in the hospital’s intensive care unit – after an incident that saw water from the Aura swimming pool’s filtration system leak back into the pool.Six children presented to LUH with various symptoms and the two boys were detained due to respiratory issues and with irritated skin, caused by a reaction to the water. One of the boys was kept in ICU on Saturday night with the other in the paediatric ward.The two were discharged on Easter Sunday afternoon.Up to 60 children were assessed and treated on site after the incident at around noon on Saturday.Initially, the hospital’s emergency plan was put in place with staff called in, before being deactivated a short time later. Over a dozen emergency service vehicles attended the scene.Parents praised the action of staff members on-site at the Aura Leisure Centre for their prompt evacuation of the complex.Yesterday, management at the Aura apologised for what they said was a ‘misleading statement’ issued on Saturday night, which claimed that all children had been discharged.“The safety and wellbeing of the children in question is of our utmost concern,” the statement read.A parent, who was in the viewing gallery at the time, described witnessing ‘a green liquid spraying into the pool’. “My three children were in the pool and my son said he was diving when he saw a dark fluid coming out in the pool under the water,” one mother told Donegal Daily.A statement from the Aura explained: ‘An issue arose where backwash (which is pool water that is contained in the filtration system) leaked back into the pool which caused some cloudiness and gave rise to foul odours.’Children discharged from hospital following weekend Aura incident was last modified: April 26th, 2019 by Chris McNultyShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:auraAura Leisure Centreemergency servicesICUintensive careletterkennyLetterkenny University Hospitalluhlast_img read more

The One Push Forecasting Rule

first_img Essential Reading! Get my 2nd book: The Lost Art of Closing “In The Lost Art of Closing, Anthony proves that the final commitment can actually be one of the easiest parts of the sales process—if you’ve set it up properly with other commitments that have to happen long before the close. The key is to lead customers through a series of necessary steps designed to prevent a purchase stall.” Buy Now When you miss your sales forecast or goal, there is almost always a deal or two (or three) that pushed, prospects that didn’t sign the contract by the end of the quarter. Leaving aside the fact that planning to close a deal at the end of the quarter is a bad idea and providing you no margin should you or your client experiences a surprise, a client pushing a deal once means one thing and pushing it three times is something different.In one scenario, something unexpected happens, and your dream client doesn’t keep the commitment they made before the quarter ended. In other cases, the client demonstrates a pattern of not keeping promises and pushing things forward. These two varieties mean something different when it comes to forecasting.One PushIt can be disappointing to have a deal you were counting on push into the next quarter. It can be much more discouraging when you have done everything right, controlling the process, gaining agreements for next steps, and keeping the whole process on track for you and your dream client. Despite your best efforts, some deals are going to push.Your dream client’s lawyers ended up dealing with a large, unexpected acquisition that required their time, and they didn’t even look at your contract. Maybe you could have controlled getting your paper to them earlier, but you had no way of knowing they would have been unavailable.Maybe your primary contact needed two people from executive leadership to approve your proposal, one of whom decided to elope and left the country for two weeks, leaving you without a signed contract.Your client is struggling with a client of their own, and they couldn’t devote the time or resources to you or your proposal and contract. The deal may be important to both you and your dream client, but the timing is more important to you—especially when you are trying to make your number at the end of a quarter.Fair enough. The deal pushed. Many have pushed before. Many will push in the future, despite my best effort at providing a framework for controlling the process and gaining all the commitments in a way that improves your effectiveness in this area.No more pushy sales tactics. The Lost Art of Closing shows you how to proactively lead your customer and close your sales. Every Commitment PushedSome clients push deals forward more than once. They provide clues that should cause concern on the part of the salesperson and the sales manager forecasting the deal. This second variety of deal-pushers is more prevalent and more concerning than those that push a single time because the patterns emerge early.Meetings get pushed. And then they get pushed again. Stakeholders who are supposed to be engaged are moved to other projects. Other stakeholders are unable to make meetings. The executive sponsor who should care the most about the opportunity is never available to meet with you or your team. Every stakeholder you have met seems to behave as if everything is a fire drill.It’s not uncommon for a meeting to be moved. It is unusual for the same meeting to move two or three times—if the meeting is important to the people who are attending. Nor is it uncommon for stakeholders to move into new roles or new projects, but when the replacement for that role isn’t available for weeks or months, you have a hint as to what real timelines might be. In larger deals, the absence of an executive sponsor by itself may be enough to suggest that your deal may not be as a high a priority for your client as it is for you.When the pattern you perceive is that your client misses many deadlines, cancels a lot of meetings, reschedules meetings, and generally works in reactive mode, you should not be surprised when these things happen at the end of the quarter. In many cases, these prospects or dream clients don’t even know it’s the end of the quarter (unless they’re salespeople).Forecasting DealsThe likelihood that a deal that has pushed once comes in during the next quarter is high. The odds of a deal with a client that has a pattern of not being able to keep their commitments is far less certain.Some sales managers and sales leaders do bad math when they forecast, relying on the stage in their sales process as a guide to forecasting. Many make the mistake of believing that the fact that a client has a contract and made a commitment to sign it is enough to forecast the deal confidently. Later, they are disappointed when these deals push.In many cases, the experience pursuing the deal provided substantial evidence the deal was likely to push. The pattern of behavior on the client’s side offers a better indication as to when the deal will close than the stage in the process.You are going to work with prospects and dream clients who are going to experience events and go through stages where it is difficult to get things done. Your role is to help them as much as you possibly can, taking into account that they’re struggling. If you want to help them, the best thing you can do is learn to control the nonlinear process that is the sales, buying, and change.The One Push RuleIf a deal pushes once with a prospect who has a history of keeping their commitments, forecast it (if it doesn’t break your heart and cross the line the second day of a new quarter).If a deal pushes more than once, pursue it, but leave it off of your forecast, especially if there is a pattern that suggests your dram client is struggling to keep their commitments.last_img read more

Odisha forest dwellers panic in wake of order

first_imgLakhs of people residing in Odisha’s forested regions are panicked over possible eviction from their homeland in the wake of the Supreme Court’s recent order on the Forest Rights Act. A total of 1,45,524 applications seeking recognition of Individual Forest Rights (IFR) have been rejected in the State by the Supreme Court.“The State government must come to our rescue and help review our applications immediately,” said Khageshwar Majhi of Gadiajore village under Nuapada district, whose application has been rejected.Activists, however, felt that four months may be too little time to complete verification, re-verification or review process pending with the State government.“Lack of sufficient evidence has been found to be the cause of rejection in 50,492 applications. People residing in forest areas belong to the lowest strata of society. They have no knowledge of documenting their properties. Under this circumstance, considerate view should be taken while reviewing their claims,” said Y. Giri Rao, a leading activist for people’s right on forest resources. He said the statutory time frame provided for the review of rejected applications at the gram sabha, sub-divisional and district levels would take around 200 days.last_img read more