CCJ Referendum Unwarranted and Divisive – Justice Minister

first_imgA referendum to determine Jamaica’s full accession to the Caribbean Court of Justice (CCJ) would be unwarranted, divisive, disruptive, inappropriate and could cost the country at least $700 million to conduct the national exercise.   This was posited by Minister of Justice, Senator the Hon. Mark Golding, at a recent JIS ‘Think Tank’,  held at the agency’s head office in Kingston. The Minister further emphasized that under Jamaica’s constitutional arrangements, a two-thirds majority vote in the House and the Senate would suffice for Jamaica to subscribe to the Appellate Jurisdiction of the CCJ. Although a signatory of the founding Treaty, Jamaica has been denied full accession to the regional court. The country’s attempt to formalise its participation was blunted in February, 2005, when the Privy Council declared that the CCJ-related companion Bills passed by the Jamaican Parliament in 2004 were unconstitutional and therefore void. The Bills would have established the CCJ as the final court of appeal in Jamaica. Following the December 2011 general elections, the new People’s National Party (PNP) Government restated its intention to have the CCJ serving in both the original and appellate jurisdictions for Jamaica, symbolizing Jamaica’s 50th anniversary of nationhood. Resolution of the matter is set to gather momentum during this legislative year. On July 28, 2012, the Government tabled three Bills in the House of Representatives, aimed at replacing the Judicial Committee of the Privy Council with the CCJ as Jamaica’s final appellate court. The Bills are scheduled to be debated in both Houses, followed by a vote for their approval. The Bills as tabled are: * An Act to Amend the Judicature (Appellate Jurisdiction) Act, which seeks to amend the Judicature (Appellate Jurisdiction) Act to repeal provisions for appeals to the Privy Council, and to exclude any appeals to the Privy Council instituted prior to implementation of the CCJ; * An Act to Amend the Constitution of Jamaica, which seeks to amend section 110 of the Constitution to repeal provisions relating to appeals to the Privy Council and replace them with provisions establishing the CCJ as Jamaica’s final court; and * An Act to make provisions for the implementation of the agreement establishing the CCJ as both a court of original jurisdiction, to determine cases involving the Caribbean Community (Caricom) and International treaties, as well as a superior court of record with appellate jurisdiction. The Justice Minister laid out a number of “practical reasons for the efficacy” of the regional court, emphasising that the nation, particularly the average Jamaican, stands to benefit greatly from accession to the CCCJ.                                                                                             “The average Jamaican cannot afford to take a case to the Privy Council… land disputes, commercial disputes, personal injury, accidents, tax disputes or criminal matters. They find it very difficult, if not impossible, to take the case beyond the local Court of Appeal,” he said. Senator Golding further explained that because the CCJ will be a “mobile court” and will utilise  information and communication technologies, it will be a more accessible and affordable court to the average person, “particularly with the employment of audio-visual technology, which allows you to fight most of the cases from right here in Jamaica.” “The court is set up with the region in mind, so there is significant investment in audio-visual and information and communications technology. Much of the work that takes place, can be done without counsels of litigants having to travel to the home base of the court, which is in Port of Spain,” he pointed out. “That saves significant cost for litigants and for governments which have cases before the CCJ. Right now, because the Privy Council is our final court, many cases that go there, which involve the Government, end up in huge invoices for English Counsels and English solicitors, which can run into many millions of dollars,” the Minister added. He also notes that going the route of the Privy Council is beyond the means of many Jamaicans, who would, in addition, require a visa to travel to England to fight their cases. “Many Jamaicans cannot get a UK visa. It’s not available as of right. It actually is a very complex (undertaking).  Many people who apply don’t get it. I think from that standpoint, it’s fundamentally inaccessible to our citizens, because they don’t have the right to go to Britain. Whether they get a visa or not is entirely a matter for the discretion of the Home Office,” the Minister told JIS News. Senator Golding argued that in this the nation’s 50th year of independence, the time has come to fully embrace the CCJ as the country’s final court of appeal. “Fifty years along, it is time for us to embrace the regional institution which has the potential to be a fantastic institution. The judges are excellent and their rulings have been illuminating and sound,” the Minister said. Senator Golding pointed out  that significant effort was put into the design of the regional court to ensure that it is free of political interference, that it is fully funded up front, so that “it is not at the behest of any regional governments to keep going operationally.” The court currently hears final appeals from three jurisdictions in the region – Barbados, Guyana and Belize. “They also have another function, which is what’s called original jurisdiction, where they adjudicate any disputes arising under the Treaty of Chaguaramas, which are really trade-related matters,” Senator Golding noted. Recently, Foreign Affairs and Foreign Trade Minister, Senator the Hon. A. J. Nicholson posited a number of reasons against the need for a referendum on replacing the United Kingdom Privy Council with the CCJ as Jamaica’s final Court of Appeal. The former Minister of Justice and Attorney General was responding to  Leader of Opposition Business in the Senate,  Arthur Williams,  who argued that entrenchment of the CCJ as the country’s final appellate court would require both political co-operation as well as a referendum. Senator Nicholson rebutted that argument, noting that for almost 80 years, none of the 39 countries (former colonies of Britain) — since Canada started the process in 1933 and which continued through to Belize in 2010 — has sought to utilise the route of a referendum to de-link from the Judicial Committee of the Privy Council and to have its own final Court of Appeal. “NICHOLSON… access to our courts — at whatever level — is one of the fundamental rights to which our people are entitled A referendum is, in essence, a general election, with a political campaign being the axis on which it spins. No country within the Westminster system of government has wished that matters relating to its judiciary be subjected or exposed to the political hustings,” Senator Nicholson said. He  explained that the non-referendum route was “not a question of not trusting the people; it is a matter of not trusting a referendum exercise to leave the country’s judiciary and judicial system unscathed.” “Neither in our constitutional arrangements nor in the judgment of the Judicial Committee is there any requirement other than that of a two-thirds majority vote to be obtained in each House of Parliament for Jamaica to subscribe to the Appellate Jurisdiction of the CCJ,” he declared. He urged opponents of the measure who insist on a referendum, “with a cost of hundreds of millions of dollars when that is not required by law or constitutionally provided for, and is, moreover, fraught with great danger to our judicial system,” to weigh the cost and reconsider.last_img read more

Angelicoussis Cracks FSRU Market with Order at DSME

first_imgzoom South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won a contract to build a liquefied natural gas floating storage regasification unit (LNG FSRU) for the Greece-based Maran Gas Maritime, part of the Angelicoussis Shipping Group.The contract includes the 173,400 cbm LNG FSRU and an option for the construction of two LNG carriers, and it carries the value of KRW 700 billion (around USD 590 million). The options could be exercised in 2017, according to DSME.The LNG-FSRU is 295m long and 46m wide and is the first LNG-FSRU to be ordered by the Angelicoussis Group. It will be constructed at the Geoje Okpo shipyard and will be delivered to the shipowner in the first half of 2020.The vessel’s design is based on the LNG-RV (LNG Regasification Vessel), which was designed for the first time by DSME in 2005.This is the second order DSME has received from the Angelicoussis Group this year. Back in June, the Greek shipowner ordered two LNG carriers, as well as two very large crude carriers from the South Korean shipbuilder.Currently, DSME is building 20 vessels for the Angelicoussis Group in South Korea and Romania.In total, the group has ordered 89 vessels from DSME since the first deal was signed in 1994.“We are grateful to Angelicoussis Group, which has decided to place order during such difficult times and showed unlimited trust in DSME,” said DSME President Jung Sung-lip. “We will do our best to win additional orders until the end of this year.”DSME has won contracts to build nine vessels and three special-purpose projects in 2016, with an overall value of around USD 1.55 billion.World Maritime News Stafflast_img read more

Budget Bulletin 2009 Debt Management Plan

first_img As the economy grows, the government has a greater capacity to service debt without sacrificing program delivery. -30- NOTE: For further 2009-10 budget information, see the Department of Finance website at www.gov.ns.ca/finance . Stimulate the economy Government will undertake its largest infrastructure investment, Building for Growth. In the next three fiscal years, the province will increase capital spending to leverage federal dollars and stimulate economic growth. These infrastructure investments will cause debt to rise. The province of Nova Scotia will change its approach to debt management to respond to the current fiscal and economic circumstances. A new Debt Management Plan will be introduced as part of the 2009–10 budget. In the midst of a worldwide economic downturn, Nova Scotia’s revenue sources are declining, and additional funds are needed for core programs such as health, education, and social services. Under the new debt plan government will: The Provincial Finance Act will be amended to support the Debt Management Plan of 2009 and modify provisions of the 2005 Debt Reduction Plan that were enshrined in legislation. Government will set new debt reduction targets for the years ahead. The goal is to keep debt at a level that is affordable for the size of the economy and resume debt reduction once the economy improves. Debt Reduction Background Nova Scotia has implemented a number of financial measures in the last eight years, first to slow the growth of its debt and then to produce large enough surpluses each year to reduce it. In 2005, the government adopted the Debt Reduction Plan, placing debt management along with balanced budgets as a central priority of fiscal management. Some provisions of the plan were given force by amendments to the Provincial Finance Act. The act was amended to ensure that a payment of $830 million from the government of Canada for the offshore offset would be earmarked to go to debt reduction. The 2005 Debt Reduction Plan also included a policy commitment to have the debt decline beginning in 2007–08, which was met. Government later made a policy commitment to put funds received from the Crown share payment on the debt. Government has managed the debt portfolio prudently. Gross debt-servicing costs have declined, and after remaining U.S. dollar funds were hedged in 2007, the foreign currency exposure went to zero from 72 per cent in 1995. Debt Management Plan, Four Components The Province of Nova Scotia will introduce a Debt Management Plan in 2009 to replace the Debt Reduction Plan of 2005. It has four components: Maintain fiscal discipline Balanced budget legislation will continue. Government must take a very strategic and disciplined approach to keeping expenses down, while maintaining or increasing revenues to balance the budget in years ahead. As part of this discipline, government is choosing not to run an operating deficit to finance stimulus measures. A higher base of operating expenses continues into future years, is very hard to reverse, and makes debt reduction targets more of a challenge.center_img Set debt-management targets The 2009 Debt Management Plan sets new debt management targets that are focused on keeping the level of debt sustainable and affordable for the Nova Scotia economy. Amend legislation The Provincial Finance Act will be amended to facilitate the introduction of the 2009 Debt Management Plan. borrow money in the next three years to pay for much-needed infrastructure and stimulate the economy use some specific funds previously earmarked for debt reduction to fund programs and services The Offshore Offset Revenue Expenditure Act changes Nova Scotia’s unique definition of deficit, which prevents offshore offset payments from being used as revenue to calculate whether the provincial budget meets the balanced budget requirements. The changes mean that offshore revenues may be used as revenue as they would normally be under standard accounting practice, and as they are in all other provinces.last_img read more

Moy Park expansion to create over 500 jobs at three Northern Ireland

first_imgFOOD MANUFACTURER MOY Park has announced a multi-million pound expansion that will create 528 jobs at three of its facilities in Northern Ireland.Today’s job boost is on top of 100 jobs recently created.The expansion, worth £170 million (€210 million), will see new process lines, an innovation centre, and a financial services centre, across sites in Dungannon, Craigavon and Ballymena.Northern Ireland’s Enterprise, Trade and Investment Minister Arlene Foster said today’s announcement was a “huge boost of confidence in Northern Ireland”.“We have been able to demonstrate to international investors like Marfrig [Group, of which Moy Park is part of] that we will work with them to ensure Northern Ireland is the right European location to successful grow their business.Marfrig CEO Sergio Rial said he is committed to growing the company’s operations in Northern Ireland.Moy Park is currently enjoying a little bit of international expose, with the well-known Irish brand appearing on advertising hoardings at the World Cup.Read: Yes, in case you’re wondering that is Moy Park chicken advertising at the World Cup >last_img read more

Chrome 18 adds software GPU for lowend hardware graphics boost

first_imgGoogle Chrome has added a number of GPU-related features in the past several releases. If you’re running a fairly new system, chances are good that your graphics hardware can take advantage of things like WebGL and hardware accelerated rendering. Those of you with an older GPU aren’t so lucky — at least not with Google Chrome 17.An addition to the Chrome 18 beta aims to deliver a much-improved graphical experience even on outdated hardware. Google has leaned on the software rendering pros at Transgaming, whose SwiftShader software GPU is capable of 3D performance that’s on par with an AMD Radeon 5550. It’s not going to deliver true modern GPU performance of course, and your results may vary, but it should still offer a substantial improvement over previous versions of Chrome. Theoretically, it’ll even offer you Chromebook users a boost: SwiftShader’s reported 3DMark score is around nine times that of the Intel GMA3150.Transgaming claims that SwiftShader is about 100 times faster than current software alternatives, and it supports multiple processor architectures. That could allow Google to build similar improvements into the recently launched Chrome for Android. If the GPU in your desktop or laptop isn’t already supported by Chrome, SwiftShader should automatically kick in. If you’re the curious type and want to see how it functions even though your hardware is supported, you can do so by adding a pair of command line switches to Chrome:–blacklist-accelerated-compositing and –blacklist-webgl. Not sure how to add command line switches? Check out the video below.More at the Chromium Bloglast_img read more

Carlsbad Police address resident concerns after stabbing death of woman

first_img KUSI Newsroom 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 SettingsCARLSBAD (KUSI) – More than 200 Carlsbad residents packed a meeting by Carlsbad Police tonight. They were there to raise their concerns after the murder of a 63-year-old woman, stabbed fifty times during a home invasion last week.KUSI’s John Soderman has more on this story.Presentation from the meeting: http://www.carlsbadca.gov/civicax/inc/blobfetch.aspx?BlobID=38048 Carlsbad Police address resident concerns after stabbing death of woman Categories: Local San Diego News FacebookTwitter March 20, 2019 Posted: March 20, 2019 Related story:Two people plead not guilty in fatal stabbing of a Carlsbad womanVictim identified in Carlsbad home invasion, murder Here’s a quick recap from @CarlsbadPolice Chief Gallucci (a little noisy in the room). Thx to our amazing and caring community for coming out tonight. https://t.co/c7xJ5I5ZTv— City of Carlsbad, CA (@carlsbadcagov) March 21, 2019 KUSI Newsroom, last_img read more

Washougal seeks schools bond

first_imgThe Washougal School District is preparing to ask the community to support a multimillion-dollar bond measure that would fund the construction of three new schools. The proposal addresses some of the district’s most pressing needs for heightened security and more space for a growing student body, Superintendent Dawn Tarzian said. In all, the package would include $52 million to $62 million worth of projects for the district, and it would go before voters next year. Tarzian expects the school board to finalize the proposal at its 6:30 p.m. meeting Tuesday at Gause Elementary School, 1100 34th St., Washougal. The largest piece of the package is a proposal to replace Jemtegaard Middle School and build an additional K-5 elementary school on the site. In 2008, voters rejected a $55 million bond measure with a similar plan to build a shared elementary and middle school campus where Jemtegaard stands at 35300 S.E. Evergreen Highway. The new proposal for a shared campus is estimated to cost anywhere from $46.5 million to $54 million, depending on how large the two schools would be. The middle school could be built large enough for 650 students and the elementary could house as many as 450, said Joe Steinbrenner, the district’s facilities director.last_img read more

Tom Cruise lights the fuse on two new Mission Impossible movies

first_img 4 Cruise will shoot Mission: Impossible 7 and 8 back to back with director Christopher McQuarrie. McQuarrie also directed the last two entries, 2015’s Rogue Nation and 2018’s Fallout, which was acclaimed by critics and fans with a Metacritic score of 86 and the highest box office in the franchise’s history.Before stepping back into the M:I series, Cruise will return to another earlier hit for high-flying sequel Top Gun: Maverick in 2020.  2019 movies to geek out over Summer 2021 and Summer 2022 pic.twitter.com/V6SNvZx2La— Tom Cruise (@TomCruise) January 15, 2019 77 Photos Comments TV and Movies 2019 sci-fi and geeky movies to freak out about Your mission, should you choose to accept it, is to look forward to not one but two new Mission: Impossible movies.Tom Cruise has confirmed that the seventh and eighth films in the stunt-packed action series will be released in summer 2021 and summer 2022. By that time, he’ll be just a year shy of his 60th birthday — but that probably won’t stop him pulling off more outrageous stunts. Tags Share your voice Now playing: Watch this: 2:15last_img read more

Telltale Games rises from its grave

first_imgTelltale Games is back from the dead.   Telltale Games Telltale Games, which shut down last year, is back like a zombie from The Walking Dead games it made. LCG Entertainment, along with several investors, purchased the remnants of the studio and will bring it back to life, according to a press release Wednesday. The new Telltale has plans to re-release its catalog of games as well as develop new content. “All of us were big fans of the games Telltale created, as we strongly believe in games as a storytelling medium and nobody did it better,” Jamie Ottilie, CEO of the new Telltale Games, said in the press release. “Even now, when you see a game with strong narrative, it’s always compared to Telltale, so it’s no surprise that players and industry colleagues alike mourned the studio’s closure. We believe there is still so much life to the brand and its franchises, and we look forward to building upon thecompany’s storytelling legacy.”Known for its adventure games, Telltale made a big splash in 2012 when it adapted The Walking Dead and went on to win multiple awards. The developer adapted other franchises such as Game of Thrones, Batman, Minecraft: A Story Mode, Tales from the Borderlands and The Wolf Among Us based on the Fables comic. 41 Photos Now playing: Watch this: Post a comment So what games will Telltale return? Well, that’s a tricky question. LCG Entertainment didn’t announce any games and said the situation with the various licenses was “the most complex aspect of the deal.” The Telltale Games website shows that The Walking Dead, Minecraft and Borderlands licenses also returned to their respective publishers Skybound, Microsoft and Gearbox Software. The company still has the license for Batman and The Wolf Among Us as well as one of its original titles, Puzzle Agent. LCG Entertainment also says it’s in talks with former Telltale staff to bring them back on board. Telltale announced a sudden mass layoff in September 2018. citing a lack of sales. It kept 25 employees to handle its final projects, but then in October the rest of the staff was laid off. The company was then completely shut down in November. Originally published 5:45 a.m. PT.Update, 6:13 a.m. PT : Adds background details. The Sega Genesis Mini is so rad Tagscenter_img Gaming Share your voice 4:21 The best new gaming laptops, ranked 0last_img read more

Bangladesh hesitant on IPS

first_imgUS president Donald Trump’s aide Lisa Curtis Lisa Curtis. Photo: CollectedWashington has not yet tabled a formal proposal to Bangladesh as to how the latter could be a part of its Indo-Pacific Strategy.Dhaka will take its time, despite it being a priority issue for US president Donald Trump’s aide Lisa Curtis, who had recently visited Bangladesh.During her meetings with foreign minister AH Mahmood Ali and foreign secretary Md Shahidul Haque, Lisa Curtis broached the issue, but on both occasions, she was told that Bangladesh would see the documents first and then make a move, diplomats say.Lisa Curtis, deputy assistant to the US president and senior director for South and Central Asia at the National Security Council, visited Bangladesh in the first week of March.During her visit, she put focused on the Rohingya crisis, Bangladesh’s inclusion in IPS and the upcoming national elections.However, during her talks with the prime minister’s security adviser Tarique Ahmed Siddiqui, she stressed strengthening security ties between the countries and procurement of arms from the US. She wanted to meet prime minister Sheikh Hasina, but she was given a cold shoulder. The PM’s international affairs adviser Gowher Rizvi met her instead.While speaking on the IPS and Bangladesh’s inclusion, Lisa mentioned the joint declaration by US president Trump and Indian prime minister Narendra Modi that had wanted Bangladesh to be a part of the instrument.When asked, foreign secretary Md Shahidul Haque said, “Yes she did say that the Trump administration wants Bangladesh in the IPS. But we have told her that we need to look into the details. So, we have asked them how the US will implement this and what role Bangladesh will play.”Former Bangladesh ambassador to the US, M Humayun Kabir, said, “I think there is a negative aspect to this policy, which is to contain China. The US wants to serve their own interests, but we have to make it a win-win situation. We have to see how this will benefit us. Besides, it has to be competitive not combative. Both the US and China are our close allies, so we better wait and see what happens.”China now has access to South Asia through the deep seaports in Pakistan and Sri Lanka, which has certainly become a concern for the US. The Bangladesh visit of Chinese president Xi Jin Ping in 2016 and his pledge to make huge investments have further intensified the concern. So, there is no doubt that IPS is just another means to keep China in check.However, the US cannot rival the huge investments China has been flaunting. It is uneasy over the increasing ties between the two Asian countries.But Bangladesh has made it clear that it will be with nations that help it in its development. The way the US is moving forward with the IPS, Bangladesh has to make a move, sooner or later.Experts say Bangladesh will take time and analyse the situation before committing to the IPS.Over the last decade, US has further strengthened its ties with Bangladesh in combating terrorism and militancy and Lisa Curtis expressed her satisfaction to this end.During her meeting with Tarique Ahmed Siddique, the prime minister’s security adviser, Lisa stressed defense and security cooperation between the nations. She also recommended buying arms from the US.She stressed faster exchange of information between the countries to better combat terrorism. If both the parties can exchange list of suspects, it will make the fight easier, she said. Dhaka said it has to be done within a legal framework.Tarique sought US help to augment the ability of Bangladesh’s defense forces.Major General (retd) ANM Muniruzzaman, a prominent security analyst and president of research organisation Bangladesh Institute of Peace and Strategic Studies (BIPSS), told Prothom Alo, “The policy the US is talking about has to have more clarity. For our own interest we want to work with everyone. We cannot join an initiative that goes against anyone. We have to make the best use of our geographical position cashing in on the changes that are imminent in relation to maritime cooperation. But first we have to take stand on principle, deciding which way we should go.” *This piece, originally published in Prothom Alo print edition, has been rewritten in English by Quamrul Hassan.last_img read more

Jewish studies center opens in Berlin

first_img Parents, stop beating yourself up BERLIN (AP) – A new Jewish studies center is opening in the German capital to facilitate research into Jewish-Christian and Jewish-Islamic relations, Holocaust remembrance, and other aspects of Jewish history and life.The German Education Ministry is funding the new Center for Jewish Studies Berlin-Brandenburg with (EURO)6.9 million ($8.6 million) in support for teachers and research over five years.Berlin’s Free University said the center opened Wednesday as part of a joint project with the city’s Humboldt University, the Berlin Technical University and the University of Potsdam. The Abraham-Geiger Kolleg rabbinical seminary and the Moses Mendelssohn Center for European-Jewish Studies are also involved. Both are affiliated with the University of Potsdam. New high school in Mesa lets students pick career paths Top Stories 4 ways to protect your company from cyber breaches More Valley freeways to be closed this weekend for improvements Sponsored Stories center_img Think Tank analyzes the second round of Democratic debates In addition to promoting research, the center will also be used for the academic training of rabbis and cantors.(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) 3 international destinations to visit in 2019 Comments   Share   Meghan McCain to release audiobook on conservatism, familylast_img read more

Ousted Egypt leaders sons on trial for trading

first_img Comments   Share   Prosecutors say the two, along with seven others, made 2 billion Egyptian pounds in illicit gains through actions that violated stock market regulations. The nine are accused of conspiring to buy 80 percent of Al Watany Bank of Egypt and then selling it, knowing a Kuwaiti bank was about to buy it.(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.) 3 international destinations to visit in 2019 Top Stories Meghan McCain to release audiobook on conservatism, family More Valley freeways to be closed this weekend for improvements Arizona families, Arizona farms: providing the local community with responsibly produced dairycenter_img Think Tank analyzes the second round of Democratic debates CAIRO (AP) – The ousted Egyptian president’s two sons have pleaded not guilty to charges of insider trading at the beginning of their trial in Cairo.The two _ Gamal, once seen as heir apparent to his father, Hosni Mubarak, and businessman Alaa _ were acquitted of corruption charges on June 2. They remained in custody for the insider trading trial, which opened Monday.The case was adjourned to Sept. 8 to allow defense lawyers to read the file. New high school in Mesa lets students pick career paths How do cataracts affect your vision? Sponsored Stories last_img read more

Premium New Zealand golf destination opens luxury lodge

first_imgImage credit: The Kinloch ClubNew Zealand’s newest luxury accommodation in a premium golfing destination has opened on the shores of Lake Taupo – a spectacular outdoor playground in the heart of the North Island.For a dream golfing break, the much anticipated Lodge at Kinloch offers a collection of one bedroom suites and two-bedroom villas styled for contemporary luxury, comfort and pleasure and set in a sublime lakeside landscape.The Lodge at Kinloch opened in mid January and is a major new premium leisure development just 20 minutes by road from the tourist town of Taupo or a one-hour drive from the thermal resort town of Rotorua.Designed by New Zealand architect Andrew Patterson, who is renowned for his cutting edge style and architectural storytelling, the villas and suites sit alongside the magnificent Jack Nicklaus Signature Golf Course overlooking Lake Taupo – New Zealand’s largest lake and the central geographic feature of this active volcanic region.Image credit: The Kinloch ClubFamed New Zealand lodge interior designer Virginia Fisher has worked her magic inside and out, creating a gorgeous setting for guests to relax in. Keeping in tune with her trademark style, expansive spaces, huge log fireplaces, vista windows, furnished terraces and stunning details create a truly exquisite environment.“My vision was a baronial feel of lush textures – velvet, fox fur, brass and copper – but upon modern calm of whitewash, light and airy,” Ms Fisher said.An onsite world-class restaurant sources produce from the private owner’s farm and adheres to the ‘estate to plate’ philosophy where possible. Top wines from New Zealand and around the world complement the cuisine as the team at Kinloch cut no corners to provide guests with premium service.The Lodge at Kinloch’s spa facility specialises in therapeutic sports massage and organic wellness treatments. Excellent entertainment facilities, tennis courts, an infinity pool (opening late summer 2016) and a state-of-the-art gym means there is always something to do.Image credit: The Kinloch ClubThe internationally renowned golf course, the jewel in the Kinloch crown, showcases a design philosophy that aims to enhance the natural environment. With the addition of the new accommodation, Kinloch will create new heights for a golfing escape or a romantic weekend away in an unforgettable New Zealand setting.The Lodge at Kinloch – a sister property to the acclaimed Treetops Estate near Rotorua – will provide an excellent base for a holiday discovery of New Zealand’s scenic and recreational diversity.Lake Taupo is a mecca for water sports, boating and fishing, mountain biking, and lies within easy reach of winter skiing in Tongariro National Park or walking the famed Tongariro Alpine Crossing.For the serious sportsman, there is seasonal fly fishing in some of the world’s best trout streams and wild game hunting. Nearby Treetops Estate offers signature eco wilderness experiences, and easy access to the thermal wonders and Maori culture of Rotorua.The official opening of The Lodge at Kinloch was held on 15 January 2016. The Lodge at KinlochSource = Tourism New Zealandlast_img read more

Moodys upgrades RCBs deposits rating to B1 from B3

first_imgMoody’s Investors Service said that it upgraded the foreign-currency deposit rating of RCB Bank by two notches to B1 and its baseline credit assessment to b2 citing its strong solvency and the expected continuation of its links to Russia’s state-owned VTB Bank, owner of 46.3 per cent of its shareholding.“The outlook on the long-term deposit ratings was changed to stable reflecting Moody’s expectation that the bank’s financial fundamentals will remain broadly unchanged over the next 12-18 months,” the rating company said in an emailed statement on Tuesday. The upgrade came five days after the bank announced that Russia’s Otkritie Financial Corporation sold its shareholding to a company controlled by RCB’s chief executive officer Kiril Zimarin who increased his stake to 49.9 per cent.“The upgrade of the baseline credit assessment to b2 from b3 reflects RCB Bank’s strong solvency, reflected in high capital and low levels of problem loans as well as Moody’s expectation that the bank will continue to grow its standalone business and strengthen its franchise,” Moody’s said. “Although currently most of RCB business stems from its links with VTB, with more than 60 per cent of RCB Bank’s loans guaranteed by VTB, RCB Bank has been strengthening its stand-alone franchise over the last few years. Moody’s expects the bank to gradually grow further its standalone operations both with foreign customers based in Cyprus and to a lesser extent with Cypriot customers”.The rating company added that following the reduction of VTB’s shareholding from 60 per cent in 2014 to now 46.3 per cent, “RCB continues to have strong ties with VTB which were tested during the financial crisis in Cyprus”.Moody’s said that the ratio of the bank’s shareholder equity to total assets rose to 5.8 per cent in December from 4.6 per cent twelve months before, RCB’s tier 1 capital ratio and non-performing loans ratio stood at 20.8 per cent and 0.8 per cent respectively, compared to around 46 per cent in the banking system.You May LikeFigLeaf Beta AppHow to Become Fully Anonymous Online in Less Than 3 Minutes? Better safe than sorryFigLeaf Beta AppUndoYahoo SearchResearch Compact SUVs. New SUVs May Make You Want To Trade Yours In Today – See For Yourself!Yahoo SearchUndoGundry MD PrebioThrive Probiotic SupplementTop Cardiologist: Throw Out All Your Gluten Now (Here’s Why)Gundry MD PrebioThrive Probiotic SupplementUndo Pensioner dies after crash on Paphos-Polis roadUndoTurkish Cypriot actions in Varosha ‘a clear violation’ of UN resolutions, Nicosia saysUndoRemand for pair in alleged property fraud (Updated)Undoby Taboolaby Taboolalast_img read more

Parliament accepts Anastasiadess referral of insolvency law

first_imgBy Stelios OrphanidesParliament on Friday accepted President Nicos Anastasiades’s referral of the law on the treatment of bankrupt persons passed by the House on June 28, the Cyprus News Agency (CNA) reported.Anastasiades referred the law back to parliament on the grounds that it conflicted with the constitution by affecting enshrined creditor rights, and was legally problematic as it had a retroactive effect.In his decision to refer the law, the president cited its unimplementability with respect to persons for whom a receivership order was issued and unnecessary for rightfully-reinstatedpersons.The law was proposed by Costis Efstathiou of the socialist Edek party, Michalis Giorgallas of Solidarity and independent MP Anna Theologou.In his letter to parliament, Anastasiades said the law would have granted to persons against whom receivership orders were issued, similar rights to those of bankrupt people who were subsequently rightfully reinstated or had the receivership order cancelled based on the provisions of the law’s article 31A which was meanwhile abolished.Anastasiades said that the referred law could not be implemented because with the cancellation of the receivership order, a reinstatement would be impossible as the affected person would cease to be bankrupt.In addition, a person who had a receivership order cancelled was responsible to manage his or her assets and repay debts and therefore has no movable or immovable PROPERTY in receivership or verifiable debts that could be forgiven.The referred law also negatively affects creditors rights, by relieving a debtor years after the issue of an order cancelling the latter’s bankruptcy, Anastasiades argued. A creditor who applied for the cancellation of a receivership order before 2015 did so having in mind that the debtor would continue to owe to creditors, he added.As the law had a retroactive effect, the president continued, this affected rights that pre-existed, including the creditor’s property rights. Furthermore, the liability of a debtor is the product of a contract which is a right enshrined in article 26 of the Constitution, with article 23 protecting all property rights, including real and financial assets, Anastasiades said.You May LikeLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoSmart Tips DailySeniors With No Life Insurance May Get A $250,000 Policy If They Do ThisSmart Tips DailyUndo Pensioner dies after crash on Paphos-Polis roadUndoThree arrested in connection with hotel theftsUndoCypriot tycoon launches ‘Bank of Cannabis’Undoby Taboolaby Taboolalast_img read more

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