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UWI continue RSPL slide

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first_img NO LUCK UWI FC spiralled to their fourth successive defeat in the Red Stripe Premier League yesterday, going down 1-0 to the in-form Cavalier at UWI Bowl. Alex Marshall netted the only goal of the game, 25 minutes into the match, as Cavalier continued their streak in the opposite direction, securing their third straight win on the road. After 10 rounds of matches, UWI were sitting pretty in second place behind leaders Portmore with 17 points. However, they have since been stuck on that points total, and head coach Andrew Peart has a few issues to address. “It’s definitely a tough result. We had opportunities and we just could not find the net, and that’s the worrying thing for us, not scoring. We are conceding because of simple errors and that’s worrying for us, very worrying, but the only solution for us now is to work hard,” Peart said. He noted that although the opportunities are coming their way, they are just not putting away their chances. “Whoever the ball drops to, we are just not having any luck, and we need to score, but we also need to protect what we have. But we just have to work hard,” Peart added. Cavalier were the better team throughout the contest and controlled possession from start to finish. However, the best chance of the game fell to Patrick Brown against the run of play, but he blasted his effort over the bar from three yards. Moments later, Alex Marshall picked up a ball at the top of the area and drove a low shot past Amal Knight for the game’s only goal. In the second half, Cavalier were content to hold on to possession and frustrate their opponents, and although UWI came to life for a brief moment, they rarely threatened the visitors’ goal. After three successive away wins and 10 out of 12 points, Cavalier’s Technical Director Rudolph Speid is hoping to maintain his team’s good form throughout this round. “We were not pleased with our sixth-place position in the first round. This round, we have seven points so far, but this is the round you really have to make your mark. You cannot wait until the third round, because the third round is going to be the hardest round, where everybody is in a dogfight for the points, so the aim is to do better in the second round than we did in the first round,” Speid stated. Yesterday’s Results: Reno 1-1 Montego Bay Dunbeholden 0-1 Portmore UWI 0-1 Cavalier Humble Lion 2-2 Harbour View Tivoli Gardens 1-2 Waterhouse  Today’s Match: Arnett Gardens vs Mount Pleasant @ 8:35 p.m. – Anthony Spaulding Sports Complexlast_img read more

An assessment of the banking system’s performance

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first_imgThe composition of Guyana’s financial sector include the banking system, the New Building Society (NBS), trust companies, finance companies, asset management companies, pension schemes and the insurance companies. The commercial banks, however, dominate the financial sector; and hence, in today’s feature, I have narrowed my focus on the banking system, to begin with.The Bank of Guyana’s half-year report for June 2017 revealed that Net Domestic Credit declined by 4.4 per cent to G0.2 billion, when compared to a 5.4 per cent reduction for the corresponding period in 2016. The net credit position to the Central Government improved G.06 billion to G.6 billion as well, while the public enterprises’ deposits fell by 32.6 per cent to G.067 billion. Credit to the Private Sector fell to 6.9 billion or 1.0 per cent on account of reduction to all sectors except the real estate mortgage, mining, construction and engineering sectors and other services.Net foreign assets of the banking system contracted by 1.1 per cent to US1.9 million at the end of June, 2017 from US1.3 million for the corresponding period in 2016. This outturn was on account of a reduction in the net foreign assets of the Central Bank, despite the net foreign assets of the commercial banks experiencing an increase of 3.2 per cent to US7 million.Turning to the liquidity profile of the banking system, total liquid assets of commercial banks amounted to G2.637 billion, which fell by 7.4 per cent below the period ended December, 2016. This outturn was on account of a reduction in the level of excess reserves held by the commercial banks. Excess liquid assets to required liquid assets ratio was 46 per cent for the period ended June, 2017 when compared to 57 per cent for the corresponding period. Total reserves deposited with the Bank of Guyana stood at .4 billion as at June, 2017, representing a reduction of 12.1 per cent from the level recorded at the end of December, 2016, reflecting a reduction in deposits at the commercial banks.Non-Performing LoansTotal non-performing loans (NPLs) stood at G$30 billion as at the end of June, 2017, representing 12.6 per cent when compared to the corresponding period, from $26.6 billion in 2016. This level of non-performing loans represents 15.7 per cent of the total loans, of which commercial banks’ total loan portfolio stood at $142.7 billion as at June, 2017. Though other indicators, as highlighted earlier, would have shown that the banking system remained relatively sound, such that the statutory liquid assets were in excess by 93.5 per cent or $78.52 billion and net income before tax stood at $7.7 billion. Given that the level of non-performing loans is one that could pose a serious threat to the soundness of the commercial banks’ portfolio, this indicator ought not to be taken lightly. Interestingly, the IMF Country Report for Guyana (2017) highlighted the fact that one domestic bank (alone) accounts for half of NPLs, though it has extended only a fifth of loans.The banking system has certainly been weakened against this backdrop, especially when looked at historically. Meaning, in the last seven years — 2010 to present — the level of non-performing loans has increased at an alarming rate: 309 per cent, from $7.307 billion in 2010 to $29.945 billion in June 2017. This outcome therefore merits the question: what are the determinants of non-performing loans? The answer is twofold; wherein the causations are stemmed from macroeconomic conditions and a bank’s specific factors.The rapid deterioration in commercial banks’ assets quality could lead to substantial losses and reduction of capital buffers. Increases in NPLs would not only increase banks’ vulnerabilities to further shocks, but also limit their lending operations, with broader repercussions for economic activity. This is evidenced by the fact that, indeed, lending has contracted during the period under review, as highlighted earlier, and as a consequence other sectors have recorded deteriorated performances as well, compared to the corresponding periods and recent years.Further, the increases in NPLs have a significant impact on credit as a share of GDP, real GDP growth, unemployment, and inflation in the periods ahead, thus validating the notion that a healthy and sustainable growth cannot be achieved without a sound and resilient banking system.Finally, citing an IMF working paper (2013) with respect to policy implications, “first, given the adverse effect of NPLs in the broader economy, and also in view of the significant contribution of bank-level factors to NPLs, there is merit in strengthening supervision to prevent a sharp build-up of NPLs in the future, including by ensuring that banks avoid excessive lending and maintaining high credit standards.”Beyond this, given that high levels of NPLs pose a burden on the economy, inter alia through limited bank lending, the need for a swift, orderly clean-up of banks’ portfolios is highlighted.last_img read more

Breach to be sealed soon

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first_imgMahaicony backlands floodingBy Shemuel FanfairAfter weeks of flooding, farmers and residents in the backlands of Mahaicony, East Coast Demerara, are slated to get relief asPumping floodwaters out of the farmlandsrehabilitation works on a breached dam in Strath Campbell along the Perth Canal are expected to commence shortly.This comes in light of a report recently carried in Guyana Times which highlighted that hundreds of acres of farmlands were flooded via the unrepaired breach during high tide.Information reaching this publication indicated that the Mahaica/Mahaicony/Abary Agricultural Developmental Authority (MMA-ADA) has secured equipment and will visit the area to begin rehabilitation by Thursday.MMA-ADA General Manager Aubrey Charles, when contacted on Tuesday, confirmed this and further explained that some months after the said dam was constructed, it settled and its height was as a consequence decreased.“After the settlement, the height of the dam was below the designed level,” Charles explained.Aubrey CharlesThe General Manager also said that the recent spring tide overflow caused soil erosion which facilitated the widening of breaches which were responsible for the heavy levels of flooding.“We also learnt that not too far from there, another section of the dam has eroded, so it’s two portions of the dam eroded,” Charles stated.According to the official, he visited the area some three weeks ago, but because of the “soft” terrain of the area, it is difficult to transport machines to rectify the problem. To this end, Charles pointed out that he could not give a specific date for when the works would be completed.One farmer with knowledge of the dam had told Guyana Times that indeed the current conditions would hinder the completion of the rehabilitation works. As the breached sections of the Perth Canal are currently unrepaired, farmers in the Branch Road Mahaicony backlands are still battling flooding even though the high tide has decreased.Farmers, who are still flooded, related that they were suffering as the dam now needed some amount of dry weather to be repaired. They expressed their frustration over the fact that the recent El Niño period was the ideal time to have done the repairs, but nothing was done to assist them. Now that the rainy season has started, they lamented the fact that they have to suffer losses.They stand to lose hundreds of acres and millions of dollars. To prevent a complete destruction of the rice crop, the farmers have the costly undertaking of pumping water from the fields every time the tide goes out.Meanwhile, while the floodwaters at Company Dam, New Providence have receded, residents fear that the next spring tide will again cause major flooding, which would destroy their plants and threaten the safety of the children who use outside toilets and traverse the area to get to and from school.last_img read more

Localising national history

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first_imgDear Editor,I am currently preparing a paper on “Combating decay during Indian indentured servitude in nineteenth century Caribbean” to be presented at the South Asian annual conference at the University of Wisconsin, Madison, later this month to coincide with the theme of the conference: DECAY.Then I saw a remarkable piece in Guyana Times “Slain Martyrs of 1872 Devonshire Castle Uprising remembered September 29.” This is a rarity and the organisers must be commended for bringing this historical event into the present.Guyana Times must be thanked for publishing it. What a win-win situation.I attended conferences where some presenters presented on this uprising but I have not seen coverage on it locally, at least from the community itself. I also understand that so much was said but only so much can be covered by GT.In this regard, I have one question. I see that the martyrs’ names appeared to be all males. Were Indian women involved in this uprising? Were Indian women involved in leadership roles during this uprising? I am curious since the roles of Indian women during indenture have been marginalised.It is about time we bring them out from the margins and place them into the mainstream. It is also about time that our national history, our national events like this one be localised across the country.Lomarsh Roopnarinelast_img read more

World Cup brings global trail of carnage

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first_img“We want peaceful celebrations. We must reject violence,” said the mayor, Gustavo Petro. About 3,000 street fights were reported to police after the win in the city of eight million people.In France, migrant Algerian fans poured onto the streets of Paris and other big cities after their country beat South Korea 4-2 on Sunday.At least 28 people were arrested by police who fired flash balls to break up unruly crowds and in some cases were pelted with stones, police said. Dozens of cars were burned.Alcohol is causing other World Cup tragedies. A drunken Mexican fan jumped off a cruise ship deck to his death after his country drew with Brazil. The ship was taking 3,500 Mexicans between the Brazilian cities of Fortaleza and Recife.Hardly a country has escaped fallout from World Cup binge drinking.Nepalese police have caught hundreds of football fans drinking and driving after staying up all night to watch World Cup matches.Police in the Himalayan nation’s capital, Kathmandu, seized the licenses of more than 400 fans in one week, said Basanta Pant, spokesman for the Kathmandu Traffic Police Division. That is twice the weekly average.Authorities have deployed 100 extra personnel to stand guard at main intersections until 4:00am, ready to stop beer-fuelled fans.Some 5,200 cases of drunk driving were reported in China in the first three days of the World Cup, a 65% increase over the figure during the 2010 tournament, the official China Daily newspaper reported.Traffic police will “conduct selective tests during daytime to keep hungover motorists off the roads,” added the report.– China’s fake sick notes –A time difference of up to 12 hours between China and Brazil has also given Chinese wheeler-dealers a lucrative opportunity to sell fake sick notes to World Cup fans staying up all night.A search on Chinese search engine Baidu showed thousands of results for vendors providing photocopies of hospital certificates with official stamps and doctor’s signatures in their “product catalogue”.World Cup absenteeism — what the British famously call “throwing a sickie” — is a widespread problem around the world.Shamsuddin Baradan, executive director of the Malaysian Employers Federation, which represents the employers of about a third of the country’s private sector work force, said employers were concerned about lower productivity and increased absences.“The first week you may not feel anything but by the second, third and fourth week, we expect quite a high degree of negative impact,” he told AFP, urging employees to be “selective” in the games they watch to reduce damage.An earlier federation survey found that 56% of its members said they had been hit by absenteeism or productivity losses during the 2006 World Cup in Germany.In Britain, the employment law specialists ELAS said that “‘World Cup fever’, the mystery illness that strikes once every four years” could cost the country’s economy up to four billion pounds ($6.8 billion).Its survey of 1,500 workers revealed that 13 per cent plan on “throwing a sickie” to watch matches and 43 per cent would take planned or unauthorised time off.In Paris, Arnaud Monthlery, owner of a small restaurant, said that five of his nine staff failed to turn up the day after France beat Switzerland 5-2 on Friday night.“As a fan I’m happy that they won. As a businessman I’m worried that this good form good last,” he commented.In Australia most of the games are played in the middle of the night. Fans’ feelings were expressed in one Twitter comment: “MESSAGE TO ALL EMPLOYERS: Please be patient with weary staff today. They have endured a night of sporting drama.”0Shares0000(Visited 1 times, 1 visits today) 0Shares0000PARIS, June 24- The hangover goes around the globe like a Mexican wave — a trail of destructive and sometimes deadly celebration is left after every win and the World Cup ‘sickie’ has become an epidemic.Bogota’s mayor ordered a ban on alcohol sales during Colombia’s World Cup matches after nine people died in fighting and car accidents sparked by the country’s 3-0 win over Greece.last_img read more

In spyware case, 18 million users were affected

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first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWhy these photogenic dumplings are popping up in Los AngelesSpyware can track a computer user’s Internet surfing habits or collect personal information without their knowledge. In this case, technology titans Microsoft Corp. and Google Inc., along with anti-spyware firm Webroot Software Inc., helped the government by analyzing the malicious software codes and files. The FTC tapped Microsoft because the pop-ups claimed to be from the world’s largest software maker. Google was brought in because an affiliate of the defendants allegedly operated a blog that offered music files to other blogs, but instead infected them with the Enternet code, Spivack said. “PC manufacturers say that 50 percent or more of their support calls are spyware-related,” said Joe Wilcox, an analyst with Jupiter Research. Webroot researchers last month reported that 89 percent of consumer PCs were infected with an average of 30 pieces of spyware. The Boulder, Colo.-based company has identified more than 527,000 malicious Web sites, an increase of 100,000 compared with the first quarter. Many consumers still don’t use anti-spyware programs or do not keep them updated, and others do not realize they’re downloading malicious software when they sign up at various sites to send greeting cards or install a new search toolbar, Wilcox said. WASHINGTON – Federal regulators said Thursday that 18 million computer users worldwide – half of them in the United States – were affected by malicious spyware allegedly distributed by parties that agreed the day before to a $2 million settlement. Analysts and government officials said huge hurdles remain in containing the problem. The Federal Trade Commission’s settlement against two California companies and three individuals was the second-biggest ever made by the agency, bringing the running total to about $8 million in settlements with more than a dozen companies over the past two years. “In terms of breadth and perniciousness … this was probably the most widespread infection we’ve dealt with,” said Mona Spivack, lead attorney on the case. The FTC’s settlement involved Enternet Media Inc., Conspy & Co. Inc., Lida Rohbani, Nima Hakimi and Baback Hakimi. Microsoft and Webroot offer anti-spyware programs and numerous companies sell anti-spyware programs, including McAfee Inc., Trend Micro Inc., CA Inc., and Symantec Corp. In the settlement announced this week, the FTC alleged that the defendants’ Web sites caused “installation boxes” to pop up on computer screens offering free music files, cell phone ring tones, photographs, desktop wallpaper and song lyrics.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

AFC Bournemouth v Liverpool confirmed line-ups

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first_imgEddie Howe’s Bournemouth host a Liverpool side looking to keep up with the Champions League spots in the Premier League’s 4:30pm kick off. In the fixture last season, the home side miraculously overturned a 3-1 deficit to win 4-3 in what was one of the most entertaining games of the 2016/17 season. Another win would be greatly welcomed for the Cherries as they lie just a point above the relegation zone, while the visitors will be looking to bounce back from two disappointing draws against Everton and West Brom respectively. So how do the teams line-up? Scroll down to see the confirmed teams. Bournemouth XI: Begovic, Adam Smith, Francis, Ake, Daniels, Ibe, Lewis Cook, Surman, Pugh, King, DefoeSubstitutes: Boruc, Steve Cook, Gosling, Arter, Afobe, Stanislas, Fraser Liverpool XI: Mignolet, Gomez, Lovren, Klavan, Robertson, Henderson, Wijnaldum, Oxlade-Chamberlain, Salah, Coutinho, Firmino Substitutes: Karius, Milner, Mane, Lallana, Ings, Solanke, Alexander-Arnold 1 Bournemouth have won two of their four league games at home this campaign last_img read more

Frank Lampard explains why he is glad Jose Mourinho has taken the Spurs job

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first_img Arsenal transfer news LIVE: Ndidi bid, targets named, Ozil is ‘skiving little git’ on target rookie error Lampard faces the biggest test of his managerial career so far on Saturday Steve Round reveals how Mikel Arteta convinced him to join Arsenal staff Spurs investigation into alleged racial abuse of Rudiger is so far ‘inconclusive’ stalemate Frank Lampard joked that Jose Mourinho taking the Tottenham job would at least keep him off the TV as a pundit.Earlier this season, Mourinho criticised Lampard’s tactics while working as a pundit during Chelsea’s 4-0 drubbing by Manchester United.The current Blues boss told talkSPORT how they exchanged texts following the game where he ‘had a little go’.In his press conference ahead of their trip to face Man City, which is live on talkSPORT, Lampard revealed he had been in contact with his former manager again. LATEST Tony Cascarino backs Everton to sign two strikers for Carlo Ancelotti AFP PEP TALK Pep Guardiola gives Man City injury update and talks Christmas schedule Lampard also discussed other topics during his press conference, and you can read the best bits, below…On taking the Spurs job in the future“I can firmly say no. We have to respect his [Mourinho’s] right to work. I played here for 13 years, I am very proud to manage this club. I have friends who are Tottenham fans, it is not on my list.”On Man City clash“The levels they have reached have been incredible. For us to be in that position, I am pleased with. But I want more.“It’s not the end story, they are a strong outfit. I won’t make huge judgements on tomorrow, our story is three months in the making.“I had a great year at City, I go there with nothing but good feelings. But I am Chelsea manager and I want to win.”Will this match show where Chelsea are at?“Yes, in a way. We went pound for pound with Liverpool. In the so-called tougher games we have performed well without the results.” LATEST FOOTBALL NEWS “We had a couple of messages to congratulate him on his new role,” said Lampard. “I think history and results speak for themselves.“He has done that consistently. It’s what we measure him and us as managers.“It keeps him off Sky Sports for a while!“He has got a good team. They were a lot of people’s favourites to be in the race.“[Mauricio] Pochettino did a great job. They have the structure there and will be a threat. They are in the top four race. When you look at the quality, the strength they have, Kane and players like that.” appointed Liverpool transfer news live: Mbappe latest, Lille star wants to join Reds in future Chelsea fan arrested for allegedly racially abusing Heung-min Son Check out all the live commentaries coming up across the talkSPORT network this week On Chelsea’s midfield dilemma with N’Golo Kante fully fit“I want it to be a positive issue. We have [Mateo] Kovacic as well, it is great for me. It is something we have done pretty well.“We have fluidity in our midfield. I think we can use them all collectively.“You have to give Jorginho the freedom to leave his position. He has a perception for the press.”On Tammy Abraham and Mason Mount scoring for England“Brilliant for them. That is a continuation of their form. It boosts your confidence and Mason feels at home at that level.”Saturday is GameDay on talkSPORT as we bring you THREE live Premier League commentaries across our network, including Man City vs Chelsea at 5:30pm Top scorer in 2019: Messi, Mbappe and Sterling trailing Europe’s top marksman Ian Holloway thinks Arsenal have made a mistake in hiring Mikel Arteta Fulham vs QPR (Friday, 7:45pm) – talkSPORT 2West Ham vs Tottenham (Saturday, 12:30pm) – talkSPORTCharlton vs Cardiff (Saturday, 12:30pm) – talkSPORT 2Arsenal vs Southampton (Saturday, 3pm) – talkSPORT 2Man City vs Chelsea (Saturday, 5:30pm) – talkSPORTMiddlesbrough vs Hull (Sunday, 12pm) – talkSPORT 2 update Strugglers Wigan hold Blackburn to goalless draw in Championship statement latest targets 1 LIVE on talkSPORTlast_img read more

Sunday school lesson continues to help those in need

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first_imgHandout Handout/Chatham Daily NewsThe boulevard that runs through the middle of Erieau was lined with food again on Sunday, continuing the tradition that began as a Sunday school lesson at St. Paul’s Anglican church to teach kids to go the extra mile. A Sunday school lesson at an Erieau church continues to benefit a combination soup kitchen and food bank in Blenheim.The boulevard that runs down the middle of Erieau was filled again with food on Sunday that was later delivered to the Word of Life Church in Blenheim to replenish the cupboards of the soup kitchen and food bank that operates on Wednesday and Friday.Kathy Noble, who teaches Sunday school at St. Paul’s Anglican church in the village located along the shore of Lake Erie, said the event began 11 years ago as a Sunday school lesson.“The whole idea is to go that extra mile,” she said. “We’re all expected to do certain things, but you can always go a little bit extra. You should always do more than what’s asked of you.”She said the first year, they lined the boulevard with pennies, which helped send some kids to camp.Noble, who used to own Eau Buoy Restaurant in Erieau, said Word of Life Pastor Tim Joyce was a regular customer. She suggested they take the Sunday school lesson and find a way to help the soup kitchen and food bank the church has operated for the past 22 years.“Between their church and our church … it’s just grown over the years,” Joyce said.She said local businesses, including OJ & Molly’s restaurant, Erieau Marina, Southside Marina and Bayview Bliss, also provide support that helps make the event a success. Handout/Chatham Daily NewsCapt. Positive and Mayor Darrin Canniff were among those helping line food along the boulevard in Erieau on Sunday. This tradition began as Sunday school lesson at St. Paul’s Anglican Church, organized by Kathy Noble, to teach kids to go the extra mile.center_img The event also raises money, through donations of $2 per foot, which generated $4,000 this year.“We’ve been empty for the last month and a half,” said Joyce, adding this donation replenishes the cupboards for the fall season.Joyce said this donation gets the food bank through to Christmas, when donations traditionally are at their highest.“It’s exciting, really exciting to see it happen every year,” he said.eshreve@postmedia.com @Chathamnews The first year, they collected 500 feet of food, and it has since grown to around more than 2,000 feet.“People who live in the village know about it and they bring their bags (of food) and set it out by the boulevard,” Noble said.She added the kids come along and start lining the food up along the boulevard so people can see it.“When something’s in a box, you don’t realize how much is there,” Nobel said. “We haven’t got a mile, yet.”last_img read more

South Africa’s Sere wind farm plugged in

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first_img17 October 2014Electricity utility Eskom has plugged its first wind farm into the national grid. The Sere wind farm, 350km north of Cape Town, is the utility’s first large-scale renewable energy project.The farm is a major step towards reducing South Africa’s reliance on coal-powered energy and is in accordance with the National Development Pan which makes allowance for renewable energy projects.While the farm has been plugged in, it will only be fully operational in March next year, when it will contribute an additional 100MW to the country’s electricity supply. At the moment it can generate 16MW of power, enough to light up 30 000 homes. Along with generating power, the project has created almost 400 direct jobs to the Matzikama community during construction. The project will also need skilled maintenance technicians over it estimated 20-year lifespan. In this same period it is expected to reduce carbon emissions by up to six million tons.Eskom is collaborating with Agence Française de Developpement, African Development Bank and the International Bank for Reconstruction and Development (IBRD), and technology company Siemens to build the farm, which upon completion will comprise 46 type SWT-2.3-108 wind turbines. Each turbine will be able to generate 2.3MW of electricity. Siemens will also assist with servicing and maintenance for five years after total completion on the farm.SAinfo reporterlast_img read more