What does the Scotiabank acquisition mean for Guyana?

first_imgDear Editor,By now it should be clear that Scotiabank Guyana and eight other Caribbean territories have been bought/acquired by Republic Financial Holdings Ltd, a Trinidadian based company and the transfer/integration is being held back by regulatory requirements and consensus. People, both staff and citizens are seeing this as a shock. Some may be saying that this is business as usual and it’s how the corporate world works. What is being overlooked is the significance this will have to the Guyanese economy and people.There are a few who happen to glance at the underlying strategy and are asking important questions as to why would Scotiabank do this. Why would the bank sell assets significantly under the market value? Why sell to RBL and not another foreign bank trying to enter the Caribbean market? Surely first world banks would have paid more for such a profitable opportunity. Why leave Guyana when they are on the verge of significant oil revenues?To answer this, you need to use the age-old cliché of ‘follow the money’. Who has the most to gain from this acquisition? Who were the players involved in the negotiation of this deal, specifically for Guyana? How is this going to impact business and the economy?If you dissect the acquisition into small bits, it is clear that the ultimate winners of this is the twin Island Republic of Trinidad & Tobago. When the acquisition is completed, RBL Guyana will own more than 50% of the banking market in Guyana. Think about that for a second. All your loans, credit, debt and other facilities will be controlled by RBL and in turn all the profit generated will be moved from Guyana and enter Trinidad.The Private Sector of Guyana is already highly controlled by Trinidadian entities, which means that Trinidadian businesses locally will be doing further business with a Trinidadian owned bank. Additionally, when the oil money starts to flow, most of those monies will more than likely be channeled through RBL. The Guyanese people will be further cut out of the possibility of having the “better life” promised as money generated from the local economy keeps going to Trinidad.Who were the key players involved in the acquisition that we know of? From the Guyana end, both Scotiabank and RBL Guyana are headed by Trinidadians. At the Trinidad end, more Trinidadians. Is this all a coincidence? What about the government and hierarchy of Trinidad, who by the way are going through a strong economic recession at present, did they have knowledge? Is this their way of attempting to control Guyana’s oil sector? Again, follow the money and the answers always becomes clear as day.Interestingly enough, the government of Antigua & Barbuda have taken a strong stance against the acquisition. They are insisting that Scotiabank sell to a “local bank” more than likely to save themselves from what will happen to Guyana, i.e. the further drain of wealth from the country.What will our Guyanese government do? As it happens, they themselves have begun to ask questions but will they take a similar stance and see pass the smoke and mirrors Trinidad has erected? What will the Ministry of Labour do? Will they advocate for Scotiabank staff members who do not want to be a part of this transition fiasco to get their well-earned and deserved severance? What about the customers who do not want to move their facilities to RBL or the customers who Scotiabank have convinced over the years to move their facilities from RBL to Scotiabank, what are they supposed to do? What about specialty products like Mastercard or Scotia’s Internet banking, what competitive alternatives are available to the loyal customers?Only time will tell, but the wise know that money always supersedes what is right and just. Fortunately, integrity is something that money can’t buy and we Scotiabankers are full of integrity. This opinion is being shared so that the People of Guyana can begin to ask questions of their own. One People, One Nation, One Destiny. What impacts us at Scotiabank will impact us all…ConcernedScotiabankerlast_img read more

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Gov’t Defers WAEC to 2016

first_imgThe national exams administered annually to 9th and 12th graders by the West African Examination Council (WAEC) has been deferred by the Ministry of Education (MOE) to 2016. In the absence of 2015 WAEC exams and exam results there will be no promotion or graduation for the two classes. At the Ministry of Information regular Thursday press briefing in Monrovia, the new Education Minister, George Werner, said the decision not to promote 9th and 12th grades in the condensed school year is intended to enable the students to be fully prepared for the 2016 exams, which will be administrated next May.He explained that 9th and 12th graders, who paid their WAEC fees for the 2015 October exams have already been credited for the May 2016 exams, despite the new academic school year for the country. According to Minister Werner, during the second half (semester II) of the 2015/2016 school year, the 12th graders will be taught a curriculum designed to consolidate their learning and maximize their performance onWAEC as well as teach appropriate life and career skills.He said already, his administration has distributed the new textbooks, supplementary workbooks and instructional materials to schools in the various counties. He added that during the August and September break, the MOE will provide teachers with training and instructional materials. The training will take into account the 2015 condensed school year.In a related development, Minister Werner said a US$3.2 million Ebola Emergency Fund from the World Bank has been allocated to the MOE for the procurement and distribution of secondary textbooks for students from 10th to 12th grades in public schools from now to October.He disclosed that his administration will also train 4000 teachers in public schools in the use of the textbooks and associated curricula. Textbooks for grades 10 to 12 in the six core subjects of Mathematics, English, Economics, Biology, Physics, and Chemistry will be in Liberia soon for distribution. The Minister said the school calendar for Early Childhood Development (ECD), basic and secondary schools will revert to the normal cycle with the 2015 condensed school year. The school year will end on July 31 this year.Minister Werner said students in grades one to eighth, 10th and 11th may receive promotion on the basis of attainment, which includes the school’s judgment of the students’ performance if they have met the learning objectives for promotion.The Minister maintained that all students will begin the 2015/2016 school year with books and the teachers will obtain new instructional and supplementary materials.This will include additional training for teachers with the intention to ensure that the students and teachers are better equipped and supported compared to what it used to be in the last ten years.“MOE is resetting the school year to the original cycle and rapidly making improvements during a short school break. This policy will provide a solid foundation for full recovery of teaching and learning, with students having more time in school to learn. Our teachers will be prepared and better supported,” he asserted.According to him, many of the children in the rural areas were finding it very difficult to be in school during this rainy season, especially for poor rural children and their families.He emphasized that the structural integrity of some of the schools have been so badly compromised that students have been evacuated to nearby makeshift facilities in which there are no basic facilities such as running water, latrines, etc.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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Restored St. Lima is reborn

first_imgSIMI VALLEY – The restored Saint Rose of Lima Church, the city’s oldest house of worship, was rededicated Friday near the entrance to Strathearn Historical Park. The church, with its new stained-glass window, is expected to attract more visitors to the park, including couples who want to get married in a quaint, historic setting, even though it no longer has a religious affiliation. “I think it’s absolutely beautiful,” said Pat Havens, a local historian. “It’s such a beautiful view as you enter the park. … The interior woodwork is spectacular.” The restoration project cost about $200,000, with part of the money coming from the Simi Valley Historical Society, part from the Rancho Simi Recreation and Parks District, and part from the city, plus volunteer work from the Knights of Columbus and others. Other funds came from people who made donations to have names placed on bricks outside the church by the rose garden. The church “just oozes charm,” said Judy Pepiot, vice president of the historical society. “You know at a glance it was a church, and it reflects the different congregations that have attended it over the years.” But Pepiot said it is important to remember it is no longer an official church as part of any religious group. The old building was first dedicated at Third Street and Pacific Avenue in August 1902 as the Presbyterian Church of Simi, when it originally cost $1,862 to build. By 1910, Catholic services were also being held there, and it was purchased in 1912 by the Diocese of Monterey-Los Angeles and dedicated in 1913 as the Chapel of St. Rose of Lima, according to Havens’ book, “Simi Valley, A Journey Through Time.” The original 60-seat church was expanded to seat 160 in the 1940s. In 1964, a modern 900-seat St. Rose of Lima Church was built at its current site on Royal Avenue, and in 2002 the old church was moved to Strathearn Historical Park. To get it ready for Friday’s dedication at the historical park, the church was upgraded to modern earthquake standards and to allow better access for the disabled. A new stained glass window was installed last week. The park now includes a 200-year-old Spanish adobe, an 1892 ranch house, an old library, one of the city’s first houses from the 1880s Simiopolis tract, a Victorian gazebo, a barn with antique farm equipment and an old barber shop recently moved there in need of renovation. “The park district has worked to obtain as many historical buildings as we can (in the historical park),” said Colleen Jansen, a spokeswoman for the park district. “We’ve now created a small town, so people can come to the site and learn about the history of the community by walking through the original buildings, seeing the antiques and feeling the history surrounding them. That’s so much more meaningful than just reading about it or looking at pictures.” eric.leach@dailynews.com (805) 583-7602160Want 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

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Super Salah shines as Liverpool hit Roma five

first_img0Shares0000Mohamed Salah ripped apart his former club with two goals and two assists as Liverpool beat Roma 5-2© AFP Oli SCARFFLIVERPOOL, United Kingdom, Apr 24 – Mohamed Salah came back to haunt former club Roma in spectacular style with two goals and two assists as Liverpool stormed towards the Champions League final with a 5-2 semi-final, first-leg win at Anfield on Tuesday.Roberto Firmino also scored twice and Sadio Mane netted Liverpool’s other goal to make up for missing a series of gilt-edged chances as the scoreline did anything but flatter the hosts. Roma produced one of the finest comebacks in Champions League history by overturning a 4-1 first-leg deficit against Barcelona in the quarter-finals.They will need to do the same in the return leg on May 2, but the visitors were at least given a lifeline when Edin Dzeko and Diego Perotti grabbed two vital away goals in the final 10 minutes.Liverpool will rue their missed chances and poor late defending, but remain well on course for a first final in 11 years.Mohamed Salah celebrating his second goal. Photo/COURTESYThe hosts’ early rhythm was disrupted when Alex-Oxlade Chamberlain was stretchered off with a nasty-looking knee injury, which could threaten his World Cup dreams with England.Moments later, the visitors were inches away from the opener when Aleksandar Kolarov’s long-range strike slipped through the grasp of Loris Karius and came back off the crossbar.However, Liverpool soon settled and should have put the tie beyond doubt before half-time.Mane blazed over when clean through on goal and then skewed wide when teed up by Firmino.Salah’s first sight of goal then brought a smart save from Alisson before Mane’s frustrating night continued as he was flagged offside when he did put the ball in the net from Andrew Robertson’s low cross.– Unselfish superstar –Despite scoring twice, Mohamed Salah kept celebrations muted against his former club. Photo/GETTYRoma have now lost their last four Champions League away games — shipping 13 goals in the process — and were punished by the man they sold to Liverpool for what now seems a bargain 42 million euros (£37 million, $52 million) last year.Nine minutes of the first half remained when Salah picked the ball up just inside the Roma area and was given far too much time by Juan Jesus to cut inside onto his favoured left foot and curl the ball with unerring accuracy into the top corner.The chances continued to come for the hosts, but unfortunately for Jurgen Klopp not all of them fell the way of Salah as Dejan Lovren headed a glorious opportunity against the bar before Alisson got down to parry Georginio Wijnaldum’s powerful strike.Brazilian number one Alisson has been in stunning form but even he was powerless as Salah struck again in first-half stoppage time with a trademark dinked finish over the advancing ‘keeper.Chasing a first ever Champions League hat-trick, Salah would have been forgiven for going for goal as he bore down on Alisson once more 11 minutes into the second period.But he showed why he is considered one of the game’s more unselfish superstars by squaring for a relieved Mane to convert from close range.Substitute Diego Perotti’s late penalty gave Roma hope ahead of the second leg© AFP Filippo MONTEFORTESalah wreaked more havoc five minutes later when he sped past the helpless Jesus and pulled the ball across goal for Firmino to tap home.Firmino then rose highest head home James Milner’s corner to take Liverpool’s fearsome front three’s combined tally for the season to 88.Roma’s night seemed to be summed up when midfielder Kevin Strootman and coach Eusebio Di Francesco became engaged in a blazing row after the fifth goal went in.However, Klopp’s decision to withdraw Salah 15 minutes from time backfired as the tie swung back Roma’s way in the final stages.Firstly, with nine minutes left, Dzeko slotted home his 21st goal of the season as Lovren got caught underneath the ball.Moments later, Anfield was stunned when Milner was punished for handball inside the area and Perotti coolly slotted home the resulting penalty.0Shares0000(Visited 2 times, 1 visits today)last_img read more

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COMPUTER PROGRAMMER WHO LEFT WOMAN TERRIFIED AFTER BREAK-IN PAYS VICTIM €500

first_imgA computer programmer who broke into a woman’s flat in Letterkenny leaving her terrified has been ordered to pay his victim €500.Cheevers left woman terrified after break-in to flat.Conal Cheevers, 37,  broke into the woman’s flat at Apartment 2, Greenfield, Pearse Road by smashing the bathroom window and removed cosmetics on May 2nd last. After hearing the noise, the terrified woman called Gardai and Cheevers, of Bru na Grudan, Castletroy, Co Limerick was caught nearby.The woman appeared at Letterkenny District Court and told Judge Paul Kelly that she was “still scared staying there at night.”Solicitor Patsy Gallagher said his client, who was charged wit trespassing, had an unblemished record, was extremely drunk on the night and couldn’t remember breaking into the flat.Judge Kelly ordered Cheevers to pay a total of €750 – €250 for the broken window and a further €500 to the victim.He then dismissed the charges.COMPUTER PROGRAMMER WHO LEFT WOMAN TERRIFIED AFTER BREAK-IN PAYS VICTIM €500 was last modified: May 19th, 2015 by StephenShare 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:break-inConal CheeversdonegalflatLetterkenny Courttrespasslast_img read more

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DONEGAL WOMAN UNVEILED AS THE NEW FACE OF TV3

first_imgMIchelle Doherty is the new face of TV3A Co Donegal woman has been unveiled as the new face of TV3’s hugely popular Xpose entertainment show.Michelle Doherty, from Glengad outside Malin Town, will take over from Aisling O’Loughlin who is on maternity leave.The Inishowen woman is no stranger to television, however. IFTA nominated Michelle has hosted popular music television shows such as When Under Ether on RTE 2 and Night Shift on Channel 6.Her passion for music and presenting led to her presenting work for Arthur’s Day, Finest Work Songs on Phantom FM and more recently, the weekday breakfast show, Pure Morning on Phantom FM.Speaking about her new role, Michelle said: “I am absolutely delighted to be a part of the team. I’ve been a huge fan of the show for years and I’m looking forward to working alongside the girls. I have always had a big love of fashion and I can’t wait for the new challenges that lie ahead.”Michelle has since expanded her horizons and pursued her passion for acting, she recently played the part of ‘Liv’ in Lenny Abrahamson’s critically acclaimed, award winning film What Richard Did and has just finished filming independent Irish film The Hit Producer where she played the lead role, ‘Katelin Ballantine’. Michelle will join Karen Koster, Glenda Gilson and Lisa Cannon from this Monday 25th November. Commenting on the appointment of Michelle, TV3 Group Head of Daytime Victoria O’Brien said: “Michelle is a great addition to the Xposé team. Her experience, her attitude and her personality will be a huge asset to Xposé. Her audition blew us out of the water and there is no question that Michelle is the one for Xposé. I know our viewers will warm to her to very quickly as she brings her own style and character to the team.”Xposé airs weekdays at 6pm on TV3.DONEGAL WOMAN UNVEILED AS THE NEW FACE OF TV3 was last modified: November 21st, 2013 by StephenShare 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:exposeGlengadMichelle DohertyTV3last_img read more

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Uganda Cup prize money increased as draws for Round of 64 are conducted

first_imgFUFA Executive Member Rogers Byamukama (left), Stanbic’s Sonia Karamagi and FUFA President Moses Magogo at Serena on Monday (Photos by FUFA Media)KAMPALA – The Stanbic Uganda Cup has been boosted by increment in Prize money for the participating teams for the 2018/19 season.This was announced at the launch of this season’s campaign at Serena Hotel on Monday.The 2018/19 edition was officially launched by the FUFA President Eng. Moses Magogo flanked by the Senior Marketing Manager from Stanbic Bank-Sonia Karamagi, FUFA Executive committee member –cum-marketing committee chairperson Rogers Byamukama, FUFA Marketing Director Esther Musoke, and Deputy CEO Humphrey Mandu among others.The prize money has been increased from Ug.shs 90M to Ug.shs 120M with the winning club smiling home with Ug.shs 40M, runners up Ug.shs 20M, semi-finalists Ug.shs 10M, quarter finalists Ug.shs 5M and Ug.shs 2.5M for each of the clubs that finish at the round of 16 stage.While addressing the media before the official launch and round of 64 draws, the FUFA President Eng. Moses Magogo re-echoed the essence of such a tournament as the Stanbic Uganda Cup in as far as rhyming with FUFA vision of being the top footballing nation in Africa as well as the mission of developing the game through competitions.“Our Vision as FUFA is to become the top footballing nation in Africa, said Magogo.“The mission is to develop the game through competitions as the Stanbic Uganda Cup. At the end of the 90 minutes, we always have winner.“I thank Stanbic Bank for the trust and confidence in us as a federation. The increased financial resource in terms of prize money is a sign of confidence that external stakeholders (as sponsors) have in FUFA. We shall organize a much better competition.“Starting at the round of round of 16, the games will be live on Television. We shall continue to sell passion and entertainment.Representing Stanbic Bank Uganda, Karamagi further hinted on the need to partner with football with a proven competition as the Stanbic Uganda Cup.“Uganda is our home. Football is more than recreation of late, said Karamagi.“We want to make this a journey to remember.We have increased the prize money from Shs. 90 Million to Shs 120M.I am so excited and cannot wait for the competition to kick off at the round of 64. We look forward a great season.Meanwhile, the draws of the round of 64 were held after the launch of the tournament.The round of 64 will kick off on 18th December 2018 and will move on until the close of the year.This season, the tournament shall be marking the 45th edition since inception in 1971. Uganda Cup 2018/19 – Round of 64 Draws:1 – Vipers Vs Rushkere Growers (Fort Portal)2 – Akadot  (Kumi) Vs Kitara (Hoima)3 – Kira United Vs St Mary’s or Makindye Cubs4 – SC Villa Vs Buganda 35 – Water FC Vs Saviour (Lira)6- KCCA Vs Amuka Bright Stars7 – Admin (Tororo) Vs Doves All Stars (Arua)8- Bumate United (Bundibungyo) Vs Ntinda United (Kampala)9 – BUL Vs Kataka10 – U-Touch (Gulu) Vs Mvara (Arua)11 – Kyetume Vs UPDF12 – Paidha Black Angels Vs Express13 – Buganda 2 Vs Edgars or Fire Fire14 – Busia Young Vs Onduparaka15 – Mbarara City Vs Maroons16 – St Stephen or Lugunjja Vs Budondo17 – Tepper (Ngora) Vs Buganda 418 – Bukedea Town Council Vs Dove19 – Tooro United Vs Entebbe FC20 – Proline Vs Light S.S21 – Western 1 Vs Kiboga Young22 – Calvary (West Nile) Vs Kabale Sharp23 – Wakiso Giants Vs Vision24 – Western 3 Vs Kirinya-Jinja S.S25 – Bright Stars Vs Western 226 – Kachumbala Rock Stars Vs Nyamityobora27 – Kireka United Vs New Villa28 – Buganda 1 Vs Koboko Rising Stars29 – Police FC Vs Boma FC30 – URA Vs JMC Hippos31 – Ndejje University Vs Kansai Plascon32 – Nebbi Central Vs Catada or Nansana FC Comments center_img Tags: FUFA Uganda Cup 2018/19Moses Magogotoplast_img read more

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Agent: Barton wants Marseille move

first_imgJoey Barton’s agent Willie McKay has told a French radio station the midfielder is keen to complete his proposed loan transfer to Marseille.A possible move for Barton came up for discussion when QPR expressed an interest in buying Marseille’s Cameroon international Stephane Mbia, who has been in talks with the R’s.McKay told RMC: ”Joey wants to play in Marseille this season. We are negotiating, but nothing is done for now.“I don’t want to comment more with respect for [Marseille coach] Jose Anigo and the president Vincent Labrune.”Follow West London Sport on TwitterFind us on Facebooklast_img read more

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SAA, Virgin Australia deal opens new stops

first_img10 February 2014 South African Airways (SAA) and Virgin Australia, one of Australia’s largest domestic airlines, have entered into a new codeshare agreement, the airline said in a statement on Thursday. SAA flies daily between Johannesburg and Perth with the new partnership offering SAA customers expanded access across Australia to domestic destinations such as Melbourne, Brisbane, and Adelaide, as of 11 February. SAA acting commercial general manager Kendy Phohleli said: “Through the codeshare agreement with Virgin Australia, our valued customers will gain new travel choices to primary markets across Australia via Virgin’s extensive network and hubs in Perth and Melbourne, providing seamless travel, and earning of miles through the Voyager frequent flyer programme. “In addition customers travelling to Africa from Australia using Virgin Australia services will have access to the most comprehensive network on the African continent.” Virgin Australia has been an interline partner of SAA since July 2010 where the two airlines had a commercial agreement to handle those customers travelling on both airlines. SAA is now expanding this relationship into a codeshare agreement. “We are looking forward to strengthening our partnership with Virgin Australia through this new codeshare agreement,” Phohleli said. SAinfo reporter and SAAlast_img read more

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South African citizens get free access to national parks

first_img15 September 2015This week, all South Africans with a valid identification document can enjoy free access to most of the country’s national parks during the 10th annual South African National Parks (SANParks) Week. The week runs from 14 to 20 September.This initiative, a partnership between First National Bank and Total South Africa, was opened by Environmental Affairs Minister Edna Molewa, with the theme “Know Your National Parks”. It was launched at Marakele National Park in Limpopo.National Parks Week was set up following the realisation that the majority of South Africa’s citizens were not visiting the country’s wildlife reserves, according to Fundisile Mketeni, the chief executive officer of SANParks. The reason for the week, Mketeni said, was to cultivate a culture of pride in all South Africans.“SANParks started this campaign to encourage all South Africans, especially those from the communities around the parks, to share in what SANParks envisions to be ‘the pride and joy of all South Africans and the world,’” he said.Source: SANparkslast_img read more

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