IMF, World Bank say ready to address economic challenges of coronavirus

first_imgThe outbreak is plunging the world economy into its worst downturn since the global financial crisis more than a decade ago, the Organization for Economic Cooperation and Development warned on Monday, urging governments and central banks to fight back to avoid an even steeper slump.Finance ministers from the world’s seven largest economies (G7) are expected to hold a conference call on Tuesday to discuss measures to deal with the economic impact of the coronavirus outbreak, four sources told Reuters.The IMF said it had an array of facilities and instruments in its tool kit to help countries respond to the economic impact of the coronavirus.The Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI), which can provide emergency financial assistance to member countries that can be quickly disbursed, was used in 2016 to help Ecuador after a major earthquake. The International Monetary Fund and the World Bank on Monday said they stood ready to help member countries address the human and economic challenges of the fast-spreading coronavirus outbreak, including through emergency funding.In a joint statement, the two institutions said they were focused especially on poor countries where health systems are weakest, and urged member countries to strengthen their health surveillance and response systems to contain the virus.“International cooperation is essential to deal with the health and economic impact of the COVID-19 virus,” the statement said, referring to the acronym for the virus. It said both the IMF and World Bank were fully committed to supporting these efforts. Topics :center_img The IMF can also augment existing lending programs to accommodate urgent needs related to the outbreak. For instance, it provided extra funds to Guinea, Liberia and Sierra Leone in 2014 to fight the Ebola outbreak.It also has grants for debt relief that can help the poorest countries address disasters and can provide support through new stand-by financing arrangements. In addition, it can help countries expand their capacity to deal with the outbreak.On Thursday, IMF spokesman Gerry Rice told reporters that the Fund had not received any requests for assistance.Somali Finance Minister Abdirahman Duale Beileh told Reuters last week in an interview that many African countries were anxiously monitoring the spread of the flu-like virus, which has infected more than 89,000 people worldwide and killed over 3,000, mostly in China.“Everybody is concerned. We are just hoping that it doesn’t come to us. If that thing comes to Africa, we’re all dead because we don’t have the facilities,” Beileh said on Friday.last_img read more

Indonesia raises $1.5b from government bonds to fund fiscal deficit

first_imgIndonesia has raised Rp 22 trillion (US$1.51 billion) from government bonds issuances as of Tuesday as it moves to fund the fiscal deficit and the country’s COVID-19 response.The government received total bids of Rp 72.78 trillion – from an indicative target of Rp 20 trillion – from both domestic and foreign investors, which means the bonds were oversubscribed by 3.6 times. The bonds series have varied maturity periods of five to 20 years, said Finance Ministry director for government debt securities Deni Ridwan.“Investor confidence in the government bonds has increased,” Deni said in a statement on Wednesday. “The rising participation from foreign investors and the high level of banking liquidity amid slowing credit demand have bolstered incoming bids.” The big appetite of investors has lowered the weighted average yield for the bonds compared to the previous auction. The five-year benchmark bonds, for instance, now offer a yield of 5.94 percent versus 6.29 percent in the previous issuance, while the 10-year bonds have a 6.81 percent yield from the previous 7.05 percent.The 15-year and 20-year bonds offer a yield of 7.28 percent and 7.4 percent from the previous 7.54 percent and 7.56 percent, respectively.The government plans to raise Rp 35 trillion to Rp 40 trillion from bonds issuances every two weeks throughout the remainder of the year as it seeks to raise a total of Rp 990.1 trillion in the second half of the year to fund the fiscal deficit.The government expects the state budget deficit to reach 6.34 percent of gross domestic product (GDP) as it allocated Rp 695.2 trillion for its COVID-19 response to strengthen the healthcare system and rescue the economy, which is expected to shrink 0.4 percent under a worst case scenario or grow 1 percent under a best case scenario this year.The country’s financial markets have also been hit by the coronavirus pandemic, with foreign investors dumping Rp 122.4 trillion in Indonesian assets as of July, according to the ministry’s data. The selling spree has weakened the rupiah exchange rate and caused a spike in yields of government debts earlier this year.Bank Indonesia agreed earlier this month to buy Rp 397.5 trillion worth of government bonds in a burden sharing scheme to fund healthcare and social safety net programs amid the coronavirus pandemic. The central bank will fully bear the costs of the bonds.The burden-sharing scheme between the central bank and the government is expected to start this week and last until this year end.Topics :last_img read more

Hague and London Oil gets hold of more North Sea assets

first_imgOil and gas company Hague and London Oil (HALO) has made a deal to acquire several assets in the Dutch & UK sectors of the North Sea from ONE-Dyas (OND).JDA and Sillimanite assets map; Source: ONE-DyasAccording to HALO’s statement on Wednesday, these interests consist of 7.9% of the Sillimanite Development Unit, straddling the Dutch & UK median line in the North Sea; 0.85% of the Joint Development Area (JDA); 2.34% of the Western Gas Transmission (WGT) pipeline system, including the onshore Den Helder gas processing facilities; and, 4.167% net profit interests (NPl) on blocks in and adjacent to the JDA, from OND.HALO said it would pay a purchase price to OND of €8.85 million ($9.7M) paid in cash at the closing of the sales purchase agreement (SPA), subject to working capital adjustments between the effective date and closing of the SPA.The company said that the completion amount would be funded through existing cash resources of the company, structured finance associated with the existing and expanded portfolio or secured lending against hydrocarbon gas volumes within HALO’s portfolio.The proposed acquisition will be subject to all requisite third party, regulatory and government (eg. Netherlands & UK) approvals or waivers.The effective date of the proposed transaction will be January 1, 2019, with the completion amount paid at the time of closing. The proposed acquisition will increase HALO’s interests in the JDA and WGT to 10.80% and 11.22% respectively and a new entry with 7.9% of the Sillimanite Development Unit comprised of 11.73% Block 44/19a (UK (includes the Sillimanite West Discovery)) and 7.037% Block D12b (Netherlands).Additionally, the proposed acquisition removes a financial burden on the company’s existing JDA stake plus adding NPI on other participants in: K8, L13 and Partial Block L12. Once completed, the proposed transaction would immediately add ca. 2 mmboe of reserves and an estimated 800-1,000 boepd of production by 4Q 20.Andrew Cochran, Chairman & Interim CEO, commented: “This proposed acquisition represents a unique opportunity to add to the existing portfolio as well as expanding it within HALO’s established ‘core’ areas, including transportation & infrastructure. Sillimanite is already under development and would add materially to the company’s production profile next year as well as adding reserves immediately upon a successful closing; also, the proposed acquisition would establish HALO’s first production in the UK ahead of the Greater Pegasus Area development project.”Previously, HALO bought Tullow Oil’s gas producing assets in the Dutch North Sea through an acquisition which was completed in November 2017. The acquisition comprised interests in 12 licenses on the Dutch Continental Shelf (DCS) in the Northern Area and a suite of interests in the Joint Development Area in the western part of the DCS. The acreage spreads over 2,878 sq km which generated total net production of 2,900 boepd in 2016.In September 2018, HALO entered into an agreement for the conditional acquisition of the entire share capital of Third Energy Offshore whose portfolio includes interests in the Greater Pegasus Area (45%), and the high impact Andromeda prospect in the Southern North Sea.Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.last_img read more

Health bulletin on alcohol consumption ahead of Carnival celebrations

first_img Share Sharing is caring! LocalNews Health bulletin on alcohol consumption ahead of Carnival celebrations by: – February 16, 2012 Tweet 19 Views   no discussionscenter_img Share Share Photo credit: knowledgebase-script.comDuring this Carnival Season many Dominicans might be thinking of drinking some form of alcohol or alcoholic drink. The Ministry of health takes this opportunity to remind you of these facts about alcohol consumption. Alcohol misuse in the form of binge drinking or drinking heavily over a long periods not only harms the individual but is damaging to relationships and society in general in terms of violence and crime, drinking and driving which result in traffic accidents, injury and premature death. It affects the drinker in many different ways:1.EFFECTS ON THE BRAIN Binge drinking can cause blackouts, memory loss and anxiety. Long-term drinking can result in permanent brain damage, serious mental health problems and alcohol dependence or alcoholism. Young people’s brains are particularly vulnerable because the brain is still developing during their teenage years. Alcohol can damage parts of the brain, affecting behaviour and the ability to learn and remember.2. EFFECTS ON THE HEART Alcohol can cause high blood pressure (hypertension) increasing the risk of having a heart attack or stroke. It also weakens heart muscles, which can affect lungs, liver, brain and other body systems and can cause heart failure. Binge drinking and drinking heavily over longer periods can cause the heart to beat irregularly and has been linked to cases of sudden death. 3. EFFECTS ON THE DIGESTIVE SYSTEMThis can result in the development of:• Stomach ulcers,• Internal bleeding• Cancer of the stomach and colon4. OTHER EFFECTS Weight gain: Alcohol is high in calories. Weight for weight, the alcohol in a drink contains almost as many calories as fat. The average bottle of wine contains 600 calories while four pints of beer contains 640 calories.Sexual Behaviour: Binge drinking makes you lose your inhibitions and affects your judgement. This might make you less likely to use a condom, increasing your risk of getting a sexually transmitted infection such as gonorrhoea, HIV or result in an unplanned pregnancyAlcohol affects the parts of your brain that control judgment, concentration, coordination, behaviour and emotions. If you are binge drinking, you may be at greater risk of:• becoming a victim of crime, eg rape, domestic violence or assault;• being involved in antisocial or criminal behaviour, eg fights, domestic violence, vandalism or theft;• having an accident, eg a traffic accident, fallDuring this Carnival Season if you do drink please try and stay within recommended limits:Men – No more than 3 to 4 drinks of alcohol a dayWomen- No more than 2 to 3 drinks of alcohol a day TIPS FOR MANAGING YOUR DRINKING • Avoid drinking alcoholHowever if you do drink:• Eat before or while drinking, and avoid salty snacks, which make you thirsty.• Be assertive – don’t be pressured into drinking more than you want or intend to.• Know your limits and stick to them.• Stay busy – don’t just sit and drink.• Try not to confuse large measures of alcohol with standard measures, eg a glass of wine served at a party or at home may be much larger than the standard 125ml.• Keep track of your drinks and don’t let people top up your drink until it’s finished.• Try alternating alcoholic drinks with water or other non-alcoholic drinks. Health BulletinHealth Promotion Resource Centre, Ministry of Healthlast_img read more

James W. Sebree age, 66

first_imgJames W. Sebree, 66, of Connersville went home to be with the Lord Thursday morning, October 27, 2016 following a courageous and hard fought battle with leukemia. Jim was at his residence surrounded by his loving family.He was born June 1, 1950 in Scott County, KY, one of three sons of Stewart, Sr. and Geneva Grace Simpson Sebree and was a 1968 graduate of Scott County High School.Following high school, he enlisted with the U. S. Army and was honorably discharged in 1975. In 1977, he moved to Connersville for residence.Jim was a union finish carpenter and a proud member of the Carpenter’s Local #1016, of Muncie, IN. For over 20 years, he worked on many public works projects throughout Indiana and the Midwest such as Ball State University, many interstate bridges and road projects, and on the Fayette County Courthouse project. He had also been employed by Herman Judd Contracting, J. S. Sweet Construction, Stant Manufacturing, and Hanson Heights Farms.He was a member of the Garrison Creek Baptist Church and a leader of the Crosspointe Biker Church Men’s Bible Study. Jim volunteered with the Angel Food Ministry and participated in several domestic and International church mission projects. Jim was a member of the Connersville Jaycees and Scott County Jaycees. He was also honored by the Governor of Kentucky with the title of Kentucky Colonel.  In his leisure, he enjoyed fishing, tournament fishing, and other outdoor activities including hiking. Jim loved spending time with his family and was a devoted “Papaw.”Survivors include his wife, Linda Sue (Dietzel) Sebree, whom he married on September 4, 1998; five daughters, Katrina (Dale) Wolford of Concord, NC, Audra (Daryl) McGuire of Connersville, Emily (Quinton) Allen of Connersville, Amy Sebree of Indianapolis, and Lauren (Mark) Prifogle of Brownsburg; five grandchildren, Marlee Grace Wolford, Ella James Allen, Letti Harper McGuire, Finley Scott Prifogle and Samuel Michael Allen; two brothers, Stewart “Buddy” (Janelyn) Sebree Jr. of Evansville, IN and Rick (Cherri) Sebree, of Georgetown, KY. He is preceded in death by his parents.Funeral services will be conducted at 11 AM, Monday, October 31, 2016 at Miller, Moster, Robbins Funeral Home with Pastor Tim Fluty officiating. Burial with military honors will be held at Maple Grove Cemetery in Brookville, IN. Friends may call at the funeral home from 4 until 8 PM Sunday, October 30, 2016.Memorial contributions may be made to the Garrison Creek Baptist Church or to the Fayette County Cancer Fund.Friends may also visit anytime online at millermosterrobbins.comlast_img read more

Dele Alli keen to help young teammates through lockdown

first_imgTottenham midfielder, Dele Alli, admits he’s unhappy with the UK’s coronavirus lockdown. “I wouldn’t say it’s been a good break because it was unexpected. But I’ve been missing playing, so I’m just trying to find ways to keep myself entertained and fit.” Alli added: “As a more experienced player, I’ve been speaking to the younger lads and just making sure they are alright. read also:Dele Alli opens up on mistakes and role model status “Even for myself, speaking to other people and trying to make sure I’m not in my little bubble here and that I reach out and communicate with other people.” FacebookTwitterWhatsAppEmail分享 However, Alli is making sure his younger teammates are staying positive. He admitted: “It’s been difficult. This is the longest I’ve had off from the training ground and not training.Advertisement Loading… Promoted ContentWho Is The Most Powerful Woman On Earth?The 10 Best Secondary Education Systems In The World6 Incredibly Strange Facts About Hurricanes15 Celebs You Probably Didn’t Expect To Be Cheerleaders6 Mysterious Things You Do Not Know About ChinaWho Earns More Than Ronaldo?10 Actors And Actresses Whose Careers Were Boosted By Soap Operas7 Most Asntonishing Train Stations In The WorldA Hurricane Can Be As Powerful As 10 Atomic Bombs8 Infamous Mistakes That Cost People Billions8 Superfoods For Growing Hair Back And Stimulating Its GrowthWho’s The Best Car Manufacturer Of All Time?last_img read more

Golf: Nigeria Secures Membership of Europe PGA

first_imgThe PGA of Nigeria was founded in 1969 and has a membership of 173 professionals working in around 70 golf clubs.The PGA of Nigeria membership has increased from four at its very beginning to become a well-established body that operates closely with the Nigeria Golf Federation (NGF), as well as further afield with almost ten per cent of its members working internationally in Ghana, Cameroon, Togo and Senegal.Various local state governments have begun to provide golf lessons in schools as a vehicle for youth empowerment, alleviating poverty, generating employment and helping the environment, and the PGA of Nigeria continues to work with the federation to increase this involvement.Secretary of the PGA of Nigeria, Jide Bolaji, added, “The Nigerian PGA aims to promote and develop golf, seek career development and capacity building opportunities and update its members in the profession, and we have a clear strategic plan to achieve this.“The future of golf in our country is bright and there are many opportunities to for us to develop, and now with the support of the PGAs of Europe, our future can be even brighter.“We are delighted that the PGA of Botswana and the PGA of Nigeria have taken the steps required to fulfill our membership requirements and standards for Affiliate Membership, which has taken our European and International membership to 38 countries,” said PGAs of Europe Chief Executive, Ian Randell.“In conjunction with the PGA of South Africa, we have worked with them for many years and now look forward to visiting each country and assisting their further development so that they may progress from Affiliate to Full International Member countries in the very near future. For more than two decades, we have conducted golf development activity not just in our own Member Countries, but also all over the world, particularly in the delivery of golf development expertise for The R&A in its “Working for Golf” programme, and it is fantastic to welcome these two nations formally into our membership.”In becoming Members, the PGA of Botswana and PGA of Nigeria gain access to the services and benefits of being a part of an international community of national PGAs and PGA Professionals, sharing good practice in areas such as membership, education, business, and the development of the game.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Olawale Ajimotokan in AbujaNigeria has joined the PGA of Europe as an international affiliate Member Country.It joined Botswana in becoming the latest African countries to be conferred with the PGA of Europe membership.last_img read more

Roundup

first_imgThe following incidents were reported in the USC Dept. of Public Safety incident report summary between Friday, Feb.28, and Saturday, March 1. Crimes against a personat 5:05 p.m. on March 1, a student reported to DPS that her roommate had pushed her and hit her with a loaf of bread during an argument. The second student denied making physical contact with the reporting student when questioned by DPS officers but admitted to throwing bread at her. Temporary housing was consequently arranged for the reporting student due to ongoing problems with her roommate.Crimes against propertyat 3:00 p.m. on Feb. 28, the property manager of 2727 Menlo Ave. reported to DPS that the building was damaged by water when students who resided at the location left water overflowing.at 6:13 a.m. on March 1, DPS officers detained a suspect who was seen carrying a locked bicycle on 27th Street and Figueroa Street. The officers were unable to locate the owner of the property so the bike was impounded at the DPS office and the suspect was released at the scene.Miscellaneous incidentsat 12:30 a.m. on March 1,  DPS officers responded to an intoxicated non-USC female who chipped a tooth outside of the Sigma Alpha Epsilon fraternity. An Los Angeles Fire Department Rescue Ambulance unit was requested but the woman declined transportation for medical treatment. The officers concluded that the female was unable to care for herself and could not locate anyone to care for her. As a result, she was arrested and transported to Metropolitan Detention Center for booking.last_img read more

Senatorial tickets present at first-ever USG election forum

first_imgAfter each ticket introduced its platform at the forum, audience members asked questions and clarified legislation propositions before moving on to the next candidates. The tickets discussed topics like mental health treatment funding and sustainability, as well as transparency and accountability with USG and the University administration. Senate candidate Quinn Cunniff, a sophomore majoring in accounting, seeks to make changes in USG’s structure to increase accountability. Cunniff is skeptical about USG’s ability to perform in a transparent manner, and wants to represent students who think similarly. According to USG bylaws, Senate candidates may run individually or in a group. Tickets with two or three candidates can campaign together on similar platform points, but each candidate is ultimately still competing against the others to be one of the 12 USG senators. During the voting period, a total of 20 candidates will be listed on the ballots individually. Only one incumbent candidate, sophomore Gabriel Savage, is running for re-election. The Undergraduate Student Government held its first-ever Senate Forum at Grace Salvatori Hall Thursday. The event gave student voters the opportunity to learn more about the 11 senatorial tickets running for office. Sara Tamadon, a sophomore majoring in social sciences, said some audience members thought the forum could have been a longer event. “I think that I translate a lot of the sentiment of what the students feel like,” Cunniff said in an interview with the Daily Trojan. “There’s a reason turnout is so low. It’s because people don’t have … faith in the student government.” “There’s a large disconnect between what people who are not in USG think about the school, what people in USG think and then what the administration does as a result of that,” Rosenthal said. “It’s really unfortunate that [the candidates] didn’t have enough time … some of the candidates were rushed,” Tamadon said. “They were definitely all well-prepared. I felt I had a good solid sense of all of the [candidates] who came to speak. I now feel like I have a better idea of who I’m going to vote for.” “Corruption ends with transparency, and I will provide that,” Cunniff said. “This forum is very instrumental in helping students make a decision because this allows students the opportunity to ask their questions directly,” Houston told the Daily Trojan after the forum. “[The candidates’] platform points on the [USG] website are pretty vague, so this is a great opportunity to get some elaboration on their points.” The forum was moderated by juniors Rosa Wang and Montana Houston. Houston emphasized the importance of USG introducing the event. Many of the tickets addressed the connection between USG and the student body. Sophomores Hailey Robertson and Ben Rosenthal and freshman Julian Kuffour, who are running on a ticket together, spoke about the need for communication between USG and the undergraduate population. Student voters had the opportunity to hear about the 11 tickets’ platforms at the inaugural Senate Forum at Grace Salvatori Hall Thursday before voting begins Feb. 5. (Valerie Taranto/Daily Trojan)last_img read more

Debbie Lee delivers State of USG address

first_imgIn this Daily Trojan file photo, Undergraduate Student Government President Debbie Lee speaks at the USG Senate meeting on Feb. 12. At the March 26 meeting, Lee delivered her State of the USG address. (Maansi Manchanda/Daily Trojan) Lee said that among the difficult questions USG has dealt with this academic year, matters of free speech and creating safe spaces on campus have been the most prominent. USG navigated backlash and protests from various student organizations and communities to conservative commentator Ben Shapiro, who spoke to students in Bovard Auditorium in October.  Lee reflected on her campaign run with USG Vice President Blake Ackerman in 2018. Lee said after careful deliberation, their election team chose the slogan “Forward Together,” a phrase which has permeated much of her presidency.   Lee, a junior majoring in political science, expressed her gratitude for the colleagues she has worked with during her time with USG. In her speech, Lee said USG comprises students dedicated to serving their community. Lee concluded her State of USG address by relaying the hope she has for the University to move forward with regard to transparency and accountability. “There are no words that can truly encompass my time in this organization and for what this year brought,” Lee said. “In three years, I have crossed paths with some of the most incredible people on campus who deeply imprinted my life … Their unwavering passion and dedication to their work and respective communities have been sources of inspiration for me daily.” “My hope is that we too as student leaders should work to overcome misunderstandings and conflicts with civility and grace, to remain steadfast in our purpose of serving others and to not point fingers … but instead uplift one another,” Lee said.  Lee said though she was proud to be a part of USG because of the organization’s tangible impact on the University, she admitted her term has faced its fair share of challenges. She cited the recent announcement of USC president-elect Carol Folt and the recent college admissions scheme as some of the challenges. “As I reflect upon our accomplishment, hurdles and growth as an organization, I recognize that much of our progress manifested when student leaders and campus partners moved forward together,” Lee said. “This year brought forth many opportunities and victories, such as the establishment of the food pantry.” “While we still have many miles to go before eliminating food insecurity and homelessness entirely, I am hopeful in knowing there is a University-wide effort to ensure students who often go unseen are fully cared for and have the resources to meet their basic needs,” Lee said.center_img “We have felt the breadth and intimate depth of each one of these challenges,” Lee said. “Even before the slew of national headlines, we have been grappling with some of the most difficult questions of our own that have always existed and perhaps still remain to be answered by future leaders of the University.” Debbie said, however, her most humbling and inspiring experiences have been speaking to students from various academic and personal backgrounds. “One year ago, I stood before you as the newly elected president, and time really does fly by,” Lee said. “So now I am grateful for this opportunity to share my reflections and thoughts as I prepare to transition out of this role.” Lee said she is proud of the Trojan Food Pantry, which was expanded from a virtual resource for students to a physical location on campus in February 2018 and has since grown to serve hundreds of graduate and undergraduate students in need.  Undergraduate Student Government President Debbie Lee delivered her State of USG address during a meeting Tuesday. During her speech, she reflected on her time serving as president since her inauguration last April, USG policies and initiatives she oversaw and recent national news regarding the challenges the University faces.  “While it is difficult to see on the front page, there are students both in and out of USG, faculty, staff and administrators who devote their time, efforts and even their lives to advocate for students and work toward a University that is values driven,” Lee said. “As the University embarks on a new journey of transition, students deserve a restoration of trust.” Lee thanked her parents, who were attendance during the meeting, Ackerman and her fellow USG members.  “To everyone who has shown me kindness and grace, when I didn’t deserve it, supported me and encouraged me along the way, and challenged my way of thinking. It is because of you that I will look back at this crazy growth-filled year with the utmost appreciation and gratitude,” Lee said.last_img read more