Zimplow Holdings Limited 2012 Annual Report

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first_imgZimplow Holdings Limited (ZIMW.zw) listed on the Zimbabwe Stock Exchange under the Engineering sector has released it’s 2012 annual report.For more information about Zimplow Holdings Limited (ZIMW.zw) reports, abridged reports, interim earnings results and earnings presentations, visit the Zimplow Holdings Limited (ZIMW.zw) company page on AfricanFinancials.Document: Zimplow Holdings Limited (ZIMW.zw)  2012 annual report.Company ProfileZimplow Holdings Limited manufactures and markets a diverse range of products for the construction, infrastructure and agricultural sectors in Zimbabwe. It also manufactures and distributes metal fasteners for the mining, construction and agricultural sector, and has interests in property management and leasing. The Farming division consists of three business units; Mealiebrand, Farmec and Afritrac which oversee the manufacturing of animal-drawn equipment and tractors, and spare parts for agricultural equipment. The Mining and Infrastructure division manufactures and distributes mining equipment, spare parts and related products through four divisions; Barzem, Mealie Brand, CT Bolts and Farmec. Zimplow Holdings Limited is a marketing and distribution agent in Zimbabwe for Massey Ferguson, Valtra, Caterpillar, Perkins, Falcon, Challenger, Vicon and Monosem. Zimplow Holdings Limited is listed on the Zimbabwe Stock Exchangelast_img read more

Newrest ASL Nigeria Plc (AIRSER.ng) 2013 Annual Report

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first_imgNewrest ASL Nigeria Plc (AIRSER.ng) listed on the Nigerian Stock Exchange under the Transport sector has released it’s 2013 annual report.For more information about Newrest ASL Nigeria Plc (AIRSER.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Newrest ASL Nigeria Plc (AIRSER.ng) company page on AfricanFinancials.Document: Newrest ASL Nigeria Plc (AIRSER.ng)  2013 annual report.Company ProfileNewrest ASL Plc is a multi-sector catering company in Nigeria specialising in out-of-home food services for the hospitality, aviation, mining and corporate sectors. It is the only multi-sector catering company in Nigeria. The company’s service footprint extends to 49 countries around the world. The catering operation is extensive with over 30 000 employees turning out more than a million meals a day. Newrest ASL Plc’s client base includes: airline companies, providing menu design, skills training, logistics management, picking and packing bars and dry stores and catering for airport lounges and VIP flights; railway companies, offering catering, cleaning and logistic services to railway operators through Newrest Wagons-Lit; oil, gas and mining companies, offering catering services for remote sites; and commercial and corporate entities, handling daily meal plans and catering for functions, inhouse restaurants and cafeterias. Newrest ASL supplies and markets its own inhouse brands which includes Le RDV, Daily Break, Caffé Lindo, Sky Shop and The Lunch. Newrest ASL Plc is majority-owned by its management where over 300 managers have a combined stake in the business of 88.7%. The company’s head office is in Lagos, Nigeria. Newrest ASL Plc is listed on the Nigerian Stock Exchangelast_img read more

Connecticut bishop will not stand for Anglican Consultative Council chair

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first_img Priest Associate or Director of Adult Ministries Greenville, SC Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Tags Rector Albany, NY AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Priest-in-Charge Lebanon, OH New Berrigan Book With Episcopal Roots Cascade Books Assistant/Associate Rector Morristown, NJ By Mary Frances SchjonbergPosted Apr 12, 2016 Rector Tampa, FL Rector Bath, NC Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET Associate Priest for Pastoral Care New York, NY Associate Rector Columbus, GA ACC16, Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Brother Tupper, TSSF says: Rector/Priest in Charge (PT) Lisbon, ME Youth Minister Lorton, VA Curate Diocese of Nebraska Canon for Family Ministry Jackson, MS Rector Washington, DC April 18, 2016 at 4:28 pm Thank you Ian. May God bless you with peace and all good. You have been a midwife for the Anglican Communion and for me. I love you. Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem Alda Morgan says: Rector Pittsburgh, PA Pamela Payne says: Christopher Lo says: Comments (5) Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Bishop Diocesan Springfield, IL Rector Shreveport, LA Associate Rector for Family Ministries Anchorage, AK Assistant/Associate Priest Scottsdale, AZ Mary Frances Schjonberg says: TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab Connecticut Bishop Ian Douglas, Episcopal Church bishop member of the Anglican Consultative Council, to a tablemate during a recent session of the ACC-16 meeting in Lusaka, Zambia. Photo: Mary Frances Schjonberg/Episcopal News Service[Episcopal News Service – Lusaka, Zambia] Diocese of Connecticut Bishop Ian Douglas, one of the Episcopal Church’s three Anglican Consultative Council members, said April 12 that he would not stand for election as its chair.Douglas, who had been widely expected to seek the office, sent a letter about his decision to the members of the ACC Standing Committee who were at that group’s April 6-7 meeting.“While I pray that I can continue to be of service to the Anglican Communion in some new way in the future, I believe that my not pursuing election as chair of the ACC at this time will best facilitate our walking together in unity as the Anglican Communion, and that is my highest priority and my greatest hope and prayer,” Douglas said in his letter.Douglas is ending his term on both the ACC and Standing Committee at the close of the ACC-16 meeting. The ACC elected Douglas in 2009 to be one of its representatives on the Standing Committee.In his letter, Douglas, noting the end of his term, said he pledged his “ongoing support and prayers” for the Standing Committee members new and old, and for the secretary general of the Anglican Communion. “God bless the Anglican Communion in our diversity and common service to God’s mission in Jesus through the power of the Holy Spirit,” he wrote.A majority of the leaders of the communion’s 38 provinces – known as primates – during their January gathering called for three years of “consequences”  for the Episcopal Church in response to the 78th General Convention’s decision to change canonical language that defines marriage as being between a man and a woman (Resolution A036) and authorize two new marriage rites with language allowing them to be used by same-sex or opposite-sex couples (Resolution A054).The primates said that they were “requiring” that for those three years the Episcopal Church not serve on ecumenical and interfaith bodies, not be appointed or elected to an internal standing committee, and “that while participating in the internal bodies of the Anglican Communion, they will not take part in decision-making on any issues pertaining to doctrine or polity.”Douglas said in an interview April 12 that his decision not to run was “not in response to the primates’ communique per se.”“Rather, my discernment has been directly informed by the relationships I enjoy here in the ACC and my commitment to fostering the unity of the Anglican Communion.”At the close of its April 6-7 meeting, the Standing Committee of the ACC issued a report affirming “the relational links between the Instruments of Communion in which each Instrument, including the Anglican Consultative Council, forms its own views and has its own responsibilities.”In a statement issued April 11, Bishop Josiah Idowu-Fearon, secretary general of the Anglican Communion, acknowledged that no ACC member can be prevented from nomination to the Standing Committee. “However during their first day in session,” wrote Idowu-Fearon, “Archbishop Justin presented a report to the ACC of the Primates Meeting. As promised he requested the ACC to work with the primates for the welfare of the whole Communion.”Nominations for ACC chair close midday on April 13 and the election is set for April 15. The nominations for vice chair and Standing Committee members close on April 16 with the elections coming April 18.Douglas, who was a General Convention four-time deputy before he was elected bishop of Connecticut in 2009, served on the design group for the 2008 Lambeth Conference of Anglican bishops and has been a member of the Inter-Anglican Standing Commission on Mission and Evangelism and a consultant for Theological Education in the Anglican Communion. Former Archbishop of Canterbury Rowan Williams awarded Douglas the Cross of St. Augustine, the highest honor in the Anglican Communion, for his work on the Lambeth Conference. More information about Douglas is here.Before the next meeting of the Anglican Consultative Council, expected in 2019, the Episcopal Church’s Executive Council will elect the church’s bishop member of the ACC. The Rev. Gay Clark Jennings, president of the House of Deputies, is the clergy member and Deputy Rosalie Ballentine of the Diocese of the Virgin Islands is the lay member. Jennings is attending her second meeting and Ballentine her first. ACC members serve for three meetings.Read more about the Anglican Consultative CouncilThe ACC is one of three Instruments of Communion, the others being the Lambeth Conference of Anglican bishops and the Primates Meeting. The archbishop of Canterbury (who is president of the ACC) is seen as is the “Focus for Unity” for the three instruments.Formed in 1969, the ACC includes clergy and lay people, as well as bishops, among its delegates. The membership includes from one to three persons from each of the Anglican Communion’s 38 provinces, depending on the numerical size of each province. Where there are three members, there is a bishop, a priest and a lay person. Where fewer members are appointed, preference is given to lay membership.The council meets every three years or four years and the Lusaka meeting is the council’s 16th session. The first meeting was held in Limuru, Kenya, in 1971. The ACC last met in late 2012 in Auckland, New Zealand. The ACC has not gathered in Africa since its ninth meeting in Cape Town, South Africa, in 1993.The roster for ACC16 is here.Ongoing ENS coverage of the ACC is here.The House of Deputies News page is also posting stories about the meeting.Tweeting is happening with #ACCLusaka.– The Rev. Mary Frances Schjonberg is an editor/reporter for the Episcopal News Service. The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Featured Jobs & Calls Connecticut bishop will not stand for Anglican Consultative Council chair Cathedral Dean Boise, ID April 12, 2016 at 2:56 pm As noted above in the second paragraph under the label “Read more about the Anglican Consultative Council,” the membership includes from one to three persons from each of the Anglican Communion’s 38 provinces, depending on the numerical size of each province. Where there are three members, there is a bishop, a priest and a lay person. Where fewer members are appointed, preference is given to lay membership. The ACC constitution is here http://www.anglicancommunion.org/media/39479/the-constitution-of-the-anglican-consultative-council.pdf Anglican Consultative Council Director of Administration & Finance Atlanta, GA April 12, 2016 at 2:17 pm Since the Constitution of the Anglican Consultative Council is not available from the hyperlink provided at http://www.anglicancommunion.org/structures/instruments-of-communion/acc/acc-16/participants.aspx, could some please educate me as to why there is a discrepancy in each autonomous provinces’ membership of the ACC. I always thought that each autonomous province sent along a Bishop, Priest and Lay person to ACC meetings. However, I see from the roster provided that most provinces did not send “one of each” specie. Furthermore, when a member is marked “unable to attend,” does the constitution of the ACC prohibit a substitute to be sent to represent that church?Does “absent” simply indicate a boycott of the meeting? Curate (Associate & Priest-in-Charge) Traverse City, MI Missioner for Disaster Resilience Sacramento, CA Rector Belleville, IL Rector Martinsville, VA Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET April 12, 2016 at 5:55 pm Bishop Ian Douglas has supported and worked for the health and work of the Anglican Communion throughout his ordained ministry. I suspect that few Episcopalians have the breadth of ties and first-hand knowledge of the Communion that he does. Hence, his refusal to stand for chair of the ACC surely looks like an informed, faithful decision. Being part of a corporate body often includes internal disagreements and no struggle is more painful than a “civil war”, disagreements within the family. We’re going through…and have been going through for some time…one of those civil wars now. I think our stand (i.e. that of TEC vis-a-vis the presence of LGBT members) on the issues is the right one, the faithful one. But, we are part of a body and as such, we need not change our stand (Although we might do well to ponder our attitudes toward our stand and those who disagree with us.), but neither can we be surprised or indignant if our sisters and brothers who disagree (being in the majority) are less than happy with it and ask us (or require us,,,it;s not clear to me which) to back off for a while, reconsider, or….Again, reading the statements of the opposing African archbishops, I think there is no homogeneity there either. One expresses pain and puzzlement that the TEC has rejected Anglican tradition and teaching on the issue of marriage. Another sees conspiracies and active malice in our position and intentions. Both seem to have thought that we are required to reconsider our position, which isn’t likely…as we’ve been considering it since at least 1979! But I hope that we honor our Communion ties by responding with some humility and grace, and it seems to me that Bp. Douglas has done just that….as had the Presiding Bishop. In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Assistant/Associate Rector Washington, DC This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Submit a Press Release Comments are closed. Submit a Job Listing Director of Music Morristown, NJ Featured Events Rector Smithfield, NC Rector and Chaplain Eugene, OR Rector Collierville, TN Rector (FT or PT) Indian River, MI Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Anglican Communion, The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group Course Director Jerusalem, Israel Submit an Event Listing Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 April 13, 2016 at 2:26 am Ms. Morgan: Thank you for a thoughtful and reasoned comment. Bishop Douglas is obviously well-qualified to lead the ACC, and his gracious statement does him honor. A little humility would behoove all parties, and Bishop Douglas sets a fine example. Family Ministry Coordinator Baton Rouge, LA Rector Knoxville, TN Press Release Service Rector Hopkinsville, KY last_img read more

CASE distinguished service awards 2001

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AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis CASE distinguished service awards 2001  15 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 6 February 2001 | News Advertisement CASE members have until 16th February to nominate fellow fundraising/development colleagues at their institution for the CASE Distinguished Service Awards. Find out more from CASE. About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. read more

Institute of Fundraising warns of spoof email in its name

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first_imgThe Institute is warning its members of the existence of an email message circulating in the name of ‘John Adam’, who claims to be the Director of the Institute.The Institute uses the front page of its website to confirm that “this email is fraudulent and there is no association between the Institute and this correspondence.” It advises recipients to ignore the contents of the message and delete it.Sadly such fraudulent or spoofed emails are not uncommon. There is very little organisations can do about them except warn likely recipients and encourage them not to act on them or add their domain name to any spam filter system they have. Advertisement  15 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Institute of Fundraising warns of spoof email in its name AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Digital Howard Lake | 18 March 2005 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

Cold Wet Weather Slows Indiana Planting Progress

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first_img Cooler temperatures in Northern Indiana along with strong weekend storms and increased precipitation in Central and Southern Indiana slowed planting progress, according to Greg Matli, Indiana State Statistician for the USDA’s National Agricultural Statistics Service. The beginning of the week was mild, but gave way for moderate to heavy rainfall through the weekend. Much of the precipitation occurred from Central Indiana downward, bring severe weather in some areas. Statewide average temperatures were slightly above normal at 58.9 degrees. Statewide precipitation was 1.82 inches, above normal by 0.92 inches. There were 2.8 days available for fieldwork for the week ending May 1, down 1.2 days from the previous week. Cold Wet Weather Slows Indiana Planting Progress SHARE Facebook Twitter Home Indiana Agriculture News Cold Wet Weather Slows Indiana Planting Progress Wheat jointing was 71% in the North, 82% in Central, and 90% in the South. Wheat headed was 4% in the North, 10% in Central, and 25% in the South. Despite the cooler temperatures and excess moisture in some areas, wheat condition ratings remain high. There have been some aerial applications on headed wheat to defend against stripe rust and head scab.While hay fields and pastures continue to look lush, growth for hay has slowed down slightly this week. Some hay fields are close to a first cutting provided they dry out. Alfalfa seedings are near completion. Livestock is in excellent condition and are almost all out on pasture. SHAREcenter_img Facebook Twitter By Gary Truitt – May 2, 2016 Soybeans planted was 5% complete in the North, 8% in Central, and 4% in the South. Plantings have been spread throughout the state as farmers are able to finish up corn planting. Previous articleFinal Indiana Avian Influenza Quarantine Lifted; State Achieves Free StatusNext articleA New Name, but Still No Progress on Labeling Bill Gary Truitt Regionally, corn planted was 25% in the North, 34% in Central, and 28% in the South. Corn planted remains far ahead of last year and the five year average. Cooler air and soil temperatures over the past week have some growers concerned about successful seed germination in the newly planted crop. On the other hand, the increased rainfall and hail storms in Central and Southern Indiana that came in over the weekend posed a risk for emerged corn. Any crop damage to corn is unknown at this time.last_img read more

Mozambique

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first_img Reports MozambiqueAfrica April 28, 2020 Find out more Receive email alerts Mozambique: Case of missing Mozambican journalist referred to UN He was killed driving home from his office through the centre of the capital, Maputo, by two gunmen who blocked the way and opened fire, killing him at once and seriously wounding his driver. Cardoso had been investigating the disappearance of 144 billion meticais (just over 7 million euros) from the Mozambique Commercial Bank (BCM). Metical had followed the scandal closely and expressed surprise at the lack of any enquiry. It had also mentioned the names of three powerful local businessmen, the Satar brothers and Vicente Ramaya.On 28 February the following year, the interior minister announced the arrest of several suspects in the case and a few days later arrested Momade Abdul and Ayob Abdul Satar, as well as Vicente Ramaya, who had been the head of the BCM’s Maputo office. At the end of May, six people had been charged in the case.On the night of 1 September 2002, one of the six suspects, Anibal Antonio dos Santos Jr. (“Anibalzinho”) escaped from Maputo’s top security prison. The police gave no immediate explanation, but there had been recent public concern about the disorganised prison system. In August, Momade Abdul Satar, one of the alleged organisers of the killing, was put in solitary confinement after he was found to have a mobile phone. On 3 September, three senior police officials working at the prison were arrested. The official version of Anibalzinho’s escape was that he had walked out through the door of his cell. But this had three locks on it, to which only the police had keys. A few days later, eight more police officers were arrested.The pro-government weekly Domingo called on 8 September for interior minister Almerino Manhenje to resign and at the end of the month, the independent weekly Mediafax accused him of being involved in the escape, saying he had direct control over the prison’s security.Two years after the murder, on 18 November, the trial of five of Cardoso’s alleged killers began in a special courtroom inside Maputo prison (to guard against incidents) and the judge, Augusto Paulino, was given special protection. Journalists were allowed to attend the hearings.The next day, one of the defendants, Manuel Fernandes, accused Nyimpine Chissano, son of President Joaquim Chissano, of having organised the murder. The president announced that justice had to be done and that the trial must continue even if his son’s name had been mentioned. Another defendant, Momade Abdul Satar, said on 20 November that on Nyimpine Chissano’s orders, he had paid Anibalzinho to kill Cardoso. On 25 November, the suspected triggerman, Rashid Cassamo, also accused the president’s son of being the brains behind the murder.The younger Chissano was summoned on 5 December and denied to the court he was involved. The six defendants were sentenced on 31 January 2003 to jail terms of between 23 and 28 years. The chief state prosecutor said Chissano’s possible involvement in the murder was being investigated.Links:Commission on Computer Technology Policy (in Portuguese)The online daily Metical (in Portuguese, by subscription)The independent weekly Mediafax to go further June 18, 2003 – Updated on January 20, 2016 Mozambique Help by sharing this information July 3, 2020 Find out more Organisation MozambiqueAfrica News The 2020 pandemic has challenged press freedom in Africa November 27, 2020 Find out more News The Internet is steadily growing despite the country’s poor phone lines. The killers of journalist Carlos Cardoso, editor of the daily paper Metical, which was distributed only by e-mail or fax, were given prison sentences in 2003.The Internet is catching on among Mozambicans but most people still use cybercafés to log on to it. The main towns have good Internet facilities and websites are not under threat of closure, censorship or monitoring. In fact the government is trying to expand Internet use and has set up a commission on computer technology policy under prime minister Pascoal Mocumbi.The government does not politically harass Internet users or the rest of the media. However, the good record has been married by one serious episode – the murder on 22 November 2000 of Carlos Cardoso, publisher of the online newspaper Metical, which was only distributed by e-mail and fax. News Follow the news on Mozambique Joint letter to Mozambique’s president about journalist’s disappearance RSF_en last_img read more

Surging virus in French African outpost reveals inequalities

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first_img Facebook View of the village of M’tsapere in Mayotte island, Saturday Feb.6, 2021. It’s the poorest corner of the European Union, and was the last to receive any coronavirus vaccines. Welcome to the French Indian Ocean territory of Mayotte, where virus cases are suddenly spiking to their highest levels since the pandemic began, and demand for ICU beds is more than triple supply. (AP Photo/ Sony Ibrahim Chamsidine) MAMOUDZOU, Mayotte (AP) — Mayotte’s main tourist office stands nearly empty, a lonely tropical outpost overlooking a people-less port. Its only hospital, however, is overwhelmed. The demand for intensive care beds is more than quadruple the supply, as medical workers fight to contain the French Indian Ocean territory’s worst coronavirus outbreak yet. The Mayotte islands are the poorest corner of the European Union, tucked between Madagascar and the mainland coast of Mozambique in southern Africa – and were the last spot in France to receive any coronavirus vaccines. Local authorities feel forgotten and say their difficulties in fighting the virus reflect long-standing inequalities between France’s majority-white mainland and its far-flung multiracial former colonies. The French army is sending in medical workers and a few ICU beds, and President Emmanuel Macron’s government pledged Wednesday to step up vaccine deliveries. But the aid will only go so far on the islands where masks are a luxury, where nearly a third of the region’s 300,000 people have no running water and where a new lockdown is suffocating livelihoods. “We used to work at the big market to sell things, to have money to feed our families,” said Ahamada Soulaimana Soilihi, a 40-year-old father of six living in a shantytown in Mayotte’s capital city of Mamoudzou. Then last week, authorities shut down Mayotte’s economy, ordering people to stay home to combat fast-growing cases of the virus variant dominant in South Africa. “How can we live without work, without being able to move, without anything?” Soilihi asked. While ocean waves lap empty beaches and police patrol the quiet streets of Mamoudzou’s business district, many people in Soilihi’s Bandrajou neighborhood seem unaware of lockdown rules or social distancing measures. Clusters of children play barefoot on the dusty ground, girls carry buckets on their heads to fetch water from a collective pump, an older woman at an informal street stall braids a younger woman’s hair. Almost no one wears a mask. Health workers acknowledge there’s no easy solution. The virus is attacking Mayotte in a “brutal and rapid” way, Dominique Voynet, the head of the regional health service, told The Associated Press. “All indicators are getting darker and darker … people are dropping like flies.” Mayotte’s weekly infection rate is now nearly four times higher than the national French average. The territory has registered 11,447 virus cases since the pandemic began — a third of them over the past two weeks — and at least 68 deaths, double the per capita virus death rate nationwide. Many cases and deaths are believed to go uncounted. That made it all the more disappointing that Mayotte was the last French overseas region to get a vaccine shipment, a month after the first doses landed in Paris, more than 8,400 kilometers (5,000 miles) away. “We were equipped much later than other (French) regions, to my great dismay,” Voynet said. The French Foreign Legion delivered the super-freezer needed to store Mayotte’s initial deliveries of 950 doses of Pfizer-BioNTech vaccines. More shipments have trickled in, and the territory has so far vaccinated 2,400 people, or less than 1% of its population. In Paris, government spokesman Gabriel Attal initially argued that Mayotte’s young population – just 4% are over 60 – meant the region was a low priority for vaccination, noting its “demographic and geographic realities which are obviously different” from the mainland. But now that infections are raging, France’s central government is increasingly worried. Doctors are transporting several ICU patients per day to nearby Reunion island. The French military on Sunday flew in medical workers. The regional health service is organizing water deliveries to encourage the poorest to stay home. Many Indian Ocean islands and countries on Africa’s mainland are facing similar — or worse — outbreaks and vaccine delays. Madagascar, with 27 million people, does not yet have vaccines. Mozambique, with 30 million people, has imposed a curfew to battle a surge driven by the variant dominant in South Africa, and doesn’t have any vaccines either. Neither do the nearby Comoros islands for its population of 850,000. The largest country in the region, South Africa, with 60 million people, has reported more than 1.47 million cases, including over 46,800 deaths. Its health minister announced Wednesday the government will be giving out the as-yet unapproved Johnson & Johnson vaccine to health care workers after a small test showed that the AstraZeneca vaccine offers only minimal protection against the variant dominant in the country. Mayotte lawmaker Mansour Kamardine doesn’t understand why his homeland is in such dire straits. When the rest of the Comoros islands chain voted in the 1970s for independence from France after a century-and-a-half of colonial rule, Mayotte residents voted overwhelmingly to stay French. Today, Mayotte has the same administrative status as any region on mainland France — one of the world’s richest countries. The territory uses the euro as currency and is represented in the European Parliament. A 2003 law promises “liberty, equality and fraternity” to all people on France’s overseas lands. But when the virus hit, “Mayotte was forgotten,” Kamardine told the AP. “We are far from the eyes, we are far from the heart” of French power. He wrote to the government to plead for more permanent ICU beds, to no avail. The whole territory has just 16. Mayotte is among nine territories – mostly French – with a special status in the EU as an “outermost region,” which have access to development funds aimed at reducing the economic gap with the European continent left over from colonial times. But with Europe now facing its own vaccine woes and protracted economic crisis, Mayotte’s prospects look dim. Piles of red plastic Coca-Cola chairs collect dust in a Mamoudzou cafe, shaded by palm trees, where a sign points toward Tokyo, 11,230 kilometers (nearly 7,000 miles) away. Metal grates hide storefronts. Business travel and tourism have plunged as the pandemic wears on. At the Caribou restaurant, bar and hotel, Chaima Nombamba manages the takeout counter — the only piece of the business still allowed to operate. The hotel shut down because of “a flood of cancellations.” Most of the restaurant staff is on temporary unemployment — a French government coronavirus program that those in the informal economy don’t enjoy. “Yes, the health crisis is very serious, and there is a deadly impact for some of us. But is it the moment to punish small businesses, notably our sector of activity, which is really hit hard, which is being killed bit by bit by little fires?” she asked. “We don’t know what tomorrow will bring. We can’t make plans or anticipate certain things because it’s changing every day,” she said. “So where is the solution?” ——— Angela Charlton reported from Paris. Andrew Meldrum in Johannesburg contributed to this report. WhatsApp Previous articleAccess Your Home Equity with A Home Co-InvestmentNext articleXenex Announces DEACTIVATE Handheld Disinfection Device; Proven to Destroy SARS-CoV-2 on Surfaces in 30 Seconds Digital AIM Web Support TAGS  WhatsApp Pinterest Pinterestcenter_img Surging virus in French African outpost reveals inequalities Facebook Local NewsUS NewsWorld News Twitter By Digital AIM Web Support – February 10, 2021 Twitterlast_img read more

Small CLO Managers May Have Trouble Complying With Risk Retention Rule

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first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Small CLO Managers May Have Trouble Complying With Risk Retention Rule Data Provider Black Knight to Acquire Top of Mind 2 days ago While several strategies have reportedly emerged to help small CLO managers who may be having trouble complying with the new risk retention rule, which was finalized in October 2014, but how effective these strategies are in achieving that goal remains uncertain, according to an announcement from Fitch Ratings.While the number of issuers in the CLO market increased by 65 percent in 2013, with 47 new mangers entering the market from the start of 2013 until October 2014, Fitch said it expects the number of small CLO managers to decline this year due to industry consolidation in anticipation of the risk retention rule going into effect in 2016.Investors of CLOs of smaller managers must also consider that smaller managers with limited resources may underutilize governance, risk management, investment processes, and operational controls. Smaller CLO managers may also be more vulnerable to business concentration and smaller asset bases, and they may lack a clear distribution network, according to Fitch.To address these considerations, the market increased the number of backup managers added to less experienced issuers of newer CLOs, which in many cases are large, frequent CLO issuers. These backups are expected to be named as replacement mangers when a breach is committed, or where there is “cause” as defined in the collateral management agreement, according to Fitch. The effectiveness of using these backup managers remains a question mark, however, since regulators have not stated whether the backup managers will be subject to the risk retention rule.”In our view, new managers with adequate administration capabilities, thorough indenture review procedures, advanced portfolio setup procedures and strong modeling tools can limit these operational risks,” Fitch said in the announcement. “We recommend investors monitor managers’ compliance with their investment guidelines.”The risk retention rule was originally proposed in August 2013 and finalized in October 2014. The final rule defines a qualified residential mortgage (QRM) and exempts securitizations of QRMs from the risk retention requirement, and it aligns the QRM definition with the CFPB’s definition of a qualified mortgage. Agencies must also review the definition of a QRM no later than four years after the rule’s effective date respective of the securitization of residential mortgages – and every five years thereafter. Additionally, each agency can request a review of the QRM definition at any time under the new rule.The final rule was issued jointly by several government agencies, including the Federal Reserve, FHFA, HUD, and FDIC. It is scheduled to go into effect one year after publication in the Federal Register for residential mortgage-backed securities and two years after publication for all other types of securitization. Tagged with: CLO Managers Collateralized Loan Obligations Risk Retention The Best Markets For Residential Property Investors 2 days ago Share Save Previous: Wisconsin Representative Continues CFPB Reform Efforts With Series of Proposals Next: Senate Banking Committee Chairman Calls for More Accountability from Fed The Week Ahead: Nearing the Forbearance Exit 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago CLO Managers Collateralized Loan Obligations Risk Retention 2015-03-06 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Home / Daily Dose / Small CLO Managers May Have Trouble Complying With Risk Retention Rule Subscribe The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea March 6, 2015 927 Views  Print This Postlast_img read more

Freddie Mac: Housing is a Bright Spot for Economy

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first_img Previous: Student Loan Debt Hinders Economic Mobility Next: Are Some Housing Markets Bubbling Over? Home / Daily Dose / Freddie Mac: Housing is a Bright Spot for Economy Freddie Mac recently released its monthly outlook for September which noted that housing remains a bright spot for the U.S. economy.”The housing market remains a bright spot for the U.S. economy, with solid job gains and low mortgage interest rates sustaining the economy’s momentum in September,” says Sean Becketti, Chief Economist, Freddie Mac. “In most markets, low mortgage rates have more than offset the rise in house prices, preserving homebuyer affordability for the typical household. Homeowners are also taking advantage of low rates and house price appreciation that is increasing their home equity. The share of cash-out refinances grew to 41 percent in the second quarter of 2016, compared to 38 percent in the first quarter and 15 to 20 percent during the housing crisis.”Specifically, the report shows that Freddie Mac is anticipating the 30-year fixed rate mortgage to average 3.6 percent in 2016. This will be the lowest annual average in over 40 years. The report states that the current record low annual average was in 2012 with a percentage of 3.66. Additionally, Freddie Mac reports that falling mortgage rates from 4 percent at the end of 2015 to about 3.5 percent in the third quarter of 2016 have more than offset the rise in house prices in most markets. The report highlights that this has helped to preserve homebuyer affordability.The report also states that Freddie Mac is revising their forecast of home price appreciation to 5.6 percent and 4.7 percent in 2016 and 2017, respectively. The GSE states that this is up from last month’s forecast of 5.3 percent for 2016 and 4.0 percent for 2017. In regards to cash-out refinance activity, Freddie Mac shows this market sector to be on the rise in the second quarter, with an estimated $13.3 billion net dollars of home equity converted to cash during refinancing. This is up from $11.4 billion in the first quarter of 2016, according to the report, but noted as substantially less than the peak cash-out refinance volume of $84.0 billion during the second quarter of 2006.In addition to these points, Freddie Mac discusses the conditions of the labor market, stating that despite a disappointing August employment report, the market “keeps chugging along”. Specifically, the report shows year-over-year job gains are over 2 million and the unemployment rate remains below 5 percent. In addition, the GSE states that job gains are now being translating into some modest real income gains with average hourly earnings up 2.4 percent year-over-year. This is a reported 2.3 percent increase from last year. Finally, the GSE reports that the best signal of labor market strength in their opinion is the fact that total job openings in July were 5.9 million, the highest on record.To read the entire Freddie Mac September 2016 Outlook click HERE. Sign up for DS News Daily September 21, 2016 1,160 Views Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Economic Outlook Freddie Mac 2016-09-21 Kendall Baer Freddie Mac: Housing is a Bright Spot for Economy About Author: Kendall Baer Demand Propels Home Prices Upward 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Tagged with: Economic Outlook Freddie Mac The Week Ahead: Nearing the Forbearance Exit 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. in Daily Dose, Featured, Newslast_img read more