VICTORIA – Finance Minister Carole James says she’s optimistic about British Columbia’s bottom line even though the budget will have a smaller surplus.The 2017-18 budget has a projected surplus of $190 million, $56 million less than the NDP forecast earlier this year, James said Tuesday in releasing the province’s second quarter fiscal update.The economy is still projected to grow by 2.9 per cent.Government revenue has dropped by $283 million, largely because it has collected less in personal and corporate income tax, James said. Wildfire costs were also up by $152 million since September’s update.“I’m optimistic we’re going to continue to see the growth projections that we see and, in fact, strong growth based on the targeted investments we are putting in place in this province,” James said.She said the minority New Democrat government has proposed long-term plans to support child care and housing.“Investing in affordable housing is going to help employers who are looking to invest in B.C.,” she added.The province is forecasting a 9.3 per cent boost in retail sales and 17.3 per cent growth in exports.There were 42,296 housing starts from January to October, keeping pace with the feverish pace of recent years and well ahead of the historic average of 29,465.“All of these indicators continue to show growth,” James said.She said the previous Liberal government posted large budget surpluses of $2 billion and higher, but more should have been spent on housing, children and those in need.“Good fiscal management is making sure the economy is strong and the benefits of that strong economy are felt by all British Columbians.”Liberal finance critic Shirley Bond said the positive numbers reflect the fiscal discipline of the former government.“Although the NDP inherited a $2.7 billion surplus, they have already managed to dip into B.C.’s savings and they haven’t even fulfilled most of their major campaign spending,” Bond said in a statement.James would not speculate on the impact the government’s impending decision on the future of the Site C dam would have on the budget. The B.C. Utilities Commission has estimated cancelling the hydroelectric dam would cost about $4 billion.
DAWSON CREEK, B.C. – The City of Dawson Creek will be delivering new recycling carts to residents this month.Dawson Creek Council voted in favour of implementing a curbside recycling program in the City earlier this year, making it easier for residents to recycle household items and reduce materials sent to the landfill.“We’ve heard residents ask for curbside recycling, and a majority identified it as a priority during our recent OCP consultation process,” said Mayor Dale Bumstead. “Many Dawson Creek residents are already sorting and recycling their household waste, and the new curbside collection service makes recycling much easier and more convenient, and helps us keep more out of the landfill.” Curbside recycling collection begins the week of September 3rd. Recycling will be picked up every other week, on the same day as garbage collection, which the City says will continue to be picked up every week.The City’s current garbage collection contractor, Waste Management, will also collect curbside recycling.Recyclable materials are placed in the 360-litre recycling cart and set out beside the garbage cart every other week. A printed guide showing accepted materials, how to place carts and a collection calendar is being distributed with the carts.Recyclable materials that are allowed inside the new carts include:household paperhard plastic containers (numbered 1 to 7)foil & metal containersdisposable drink cups & lidsnewspapers & magazinescardboard boxes & boxboardgable top containers & aseptic (“TetraPaks”) cartonsnon-hazardous aerosol cans.Plastic bags, glass and foam packaging are not accepted in recycling carts.In order to save on unnecessary printing, residents are encouraged to download the Dawson Creek app, which is available for Apple and Android devices, and to sign up for schedule reminders on the City’s website. The Waste Wizard app also includes the most up-to-date disposal instructions for hundreds of household materials including items that can be included with curbside garbage and recycling, taken to a recycling depot, or special instructions for hazardous materials. For more information on the recycling program, accepted materials and to find your collection schedule visit www.dawsoncreek.ca/recycle, or download the Dawson Creek app.Missed or problem cart deliveries can be reported to the City of Dawson Creek at 250-784-3600.
Chennai: Led by the former captain of the Indian national side Mahendra Singh Dhoni, Chennai Super Kings (CSK) beat Royal Challengers Bangalore (RCB), led by Dhoni’s successor and current skipper Virat Kohli, by seven wickets in the opening encounter of the Indian Premier League (IPL) on Saturday.Batting first, RCB were bowled out for 70 in 17.1 overs in which Parthiv Patel top scored with 29 off 35 balls. Harbhajan Singh (3/20 in 4 overs), Imran Tahir (3/9 in 3 overs) and Ravindra Jadeja (2/15 in 4 overs) shared the wickets. Dwayne Bravo also chipped in with a wicket. In reply, CSK scored the runs in 17.4 overs with Ambati Rayudu scoring 28. RCB in defeat maintained their inglorious record against CSK and also had the ignominy of ending with the sixth lowest total in the league. Skipper Dhoni’s move to open with Harbhajan paid rich dividends as he removed rival skipper Virat Kohli (6) in the fourth over and RCB never recovered from that early blow.
Superintendent of Police N.M. Mylvahanan, who was supervising the investigation, has ordered a detailed probe stating that “it has serious dimensions.” The seized fake Indian currencies were of very high quality and the source of the counterfeit notes had to be ascertained, he had said. The police have detained Robert, a fisherman in Mandapam, for interrogation. He had lent his ‘vallam’ (country boat) for drug trafficking, police said.Interrogation of the accused revealed that five more people — two in Thangachimadam, one in Pamban and two in Madurai — were involved in the racket and special teams had fanned out to nab them, Ms. Maheswari said. The police identified the other accused as Veeramurugan (23), Vicky alias Venkatesh (23) from Madurai, and Rajan (42) and Siva (31) from a refugee camp at Batlagundu in Dindigul district. Siva had been staying in the camp since 1999, while Rajan arrived in Tamil Nadu in 2007, the police said. Muneez alias Murugesan, the prime accused who had smuggled ganja and received Rs. 9.5 lakh in fake Indian currency notes in the denomination of Rs. 1,000 from one Amaran, a drug peddler in Sri Lanka, was among the five arrested on Tuesday and remanded in judicial custody, the DSP said. Indian police have arrested five people including two Sri Lankans over a fake currency and drug trafficking racket, The Hindu newspaper reported.After stepping up the investigation,a special team, led by K. Maheswari, Deputy Superintendent of Police (Kilakarai), arrested five people, including two Sri Lankan Tamils, who were either involved in drug trafficking or circulating fake Indian currencies with a total face value of Indian Rs. 9.5 lakh.
Emoji have become more personliased in recent years Credit:Emojipedia Emoji with darker skin tones are helping people feel included on social media, researchers have found, as they call for even more diversity in the little cartoons.When the inclusive emoji were first introduced in 2015 there were fears that the icons could be used inappropriately or abusively, and could even stoke racial tensions.But when researchers analysed a sample of a billion tweets they found that most people who choose to personalize the colour of their emoji do it to make it more aligned with their own skin tone.And even in tweets where the selected skin tone was different from that of the user, posts were found to be mostly positive.The researchers, from the University of Edinburgh have called for even more options to personalise characters to a greater degree.Alexander Robertson, of the University of Edinburgh’s School of Informatics, said: “This result should encourage the addition of more emoji options for self-representation – adding to those that have been recently made available, such as red hair.“I would expect to see options like more combinations of skin and hair colour (at the moment the number of combinations is restricted, for example you can’t have blonde hair and darker skin) and perhaps a wider range of skin tones than the current five.” The study found that users with darker skin, according to their Twitter profiles, were most likely to modify their emoji, while users with light skin were less likely to make any changes. This underlines the importance to users of being able to express their identity online, researchers say. Almost half of modified emoji used a light skin tone, because most users are white, the study found.The darkest skin tones were used least throughout most regions of the world, even in Africa, perhaps reflecting the lack of internet access in developing regions.Dr Walid Magdy, of the University of Edinburgh’s School of Informatics, who led the research, said: “The introduction of skin tone choices for emoji has been a success in representing diversity and their extensive use shows that they meet a real demand from users.”The study, by scientists at the University of Edinburgh,will be presented at the 12th International AAAI Conference on Web and Social Media in Stanford, California, in June. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings.
Emissions of the gas in the UK and the rest of the EU in 2017 were the equivalent of putting an extra 1.3million cars on the road.”As renewable projects are getting bigger and bigger, we have had to use it within wind turbines specifically,” Costa Pirgousis, an engineer with Scottish Power Renewables, told the BBC.”As we are putting in more and more turbines, we need more and more switchgear and, as a result, more SF6 is being introduced into big turbines off shore. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings. “It’s been proven for years and we know how it works, and as a result it is very reliable and very low maintenance for us offshore.”In the UK, Ofgem, the energy regulator, says it is working with companies to try to limit leaks of the gas.”We are using a range of tools to make sure that companies limit their use of SF6, a potent greenhouse gas, where this is in the interest of energy consumers,” an Ofgem spokesperson told BBC News. The most powerful known greenhouse gas has been leaking into the Earth’s atmosphere due to the green energy boom, it was reported on Friday night.Sulphur hexafluoride, or SF6, is widely used in the electrical industry to prevent short circuits and accidents.It is 23,500 times more warming than carbon dioxide (CO2), and just one kilogram warms the Earth as much as 24 people flying London to New York return.The drive to use mixed sources of power, including wind, solar and gas, rather than coal as fuel has resulted in a rise in the number of electrical devices that use SF6, the BBC said.A study from the University of Cardiff found that across all transmission and distribution networks, the amount used was increasing by 30-40 tonnes per year.
Dean Bombac is back to Pick Szeged! After two only average seasons in the system of Talant Dujshebaev, one of the best playmaker of the VELUX EHF Champions League decided to come back to Szeged, where he played his best handball until 2016, when he moved to Polish PGE Vive Kielce.Bombac signed three years contract with the Hungarian champions. The 29-years old Slovenian will play alongside compatriot Stas Skube.Bombac also played at RK Cimos Koper, HC Dinamo Minsk, French Aix. ← Previous Story EHF Congress: EHF EURO 2024 to Germany, EURO 2022 in Hungary/Slovakia and Balkans Next Story → “Tunisian hammer” Amine Bannour to Dinamo Bucuresti! Dean BombacPGE Vive KielcePick Szeged
Pollution : les poissons du Rhône et de la Seine contaminés aux PCBFrance – Les dernières analyses réalisées par l’Office national de l’eau et des milieux aquatiques (Onema) ont mis en évidence une importante pollution aux PCB dans la Seine, le Rhône, mais aussi la Marne. Le ministre de l’Environnement Jean-Louis Borloo a annoncé une prochaine interdiction de consommation des poissons peuplant ces fleuves.Les Robins des Bois dénoncent une pollution “catastrophique en ce qui concerne la Seine en amont de Paris, en aval et dans la capitale”. D’après l’association, les analyses de l’Onema sont particulièrement inquiétantes en Île-de-France, où la Seine et la Marne sont polluées aux polychlorobiphényles (PCB). Le Rhône est lui-aussi fortement contaminé.Ces produits chimiques, dont l’utilisation est interdite depuis 1987, sont présents dans la majorité des rivières françaises. Persistants, ils s’accumulent dans les sédiments et les chairs des poissons. Potentiellement dangereux, les PCB sont considérés comme des perturbateurs endocriniens qui peuvent provoquer des troubles du développement chez l’enfant, mais aussi de la fertilité et du système immunitaire. “A Paris 12e, les brèmes et les gardons dépassent de 3 à 5 fois le seuil réglementaire de conformité. A Nanterre, 90% des poissons analysés, anguilles et gardons, sont impropres à la consommation. A Gargenville, les anguilles ne doivent pas être consommées, ni par les pêcheurs, ni par leurs voisins, ni par les chats ; la contamination moyenne des anguilles est de 8 fois le seuil réglementaire” avertissent les Robins des Bois.Le ministre de l’Environnement Jean-Louis Borloo a annoncé son intention d’interdire prochainement la consommation des poissons contaminés pêchés dans la Seine et le Rhône. Le ministre a précisé que cette interdiction ne concernera que la consommation, et pas la pêche.Le 4 juin 2010 à 17:27 • Emmanuel Perrin
Tuesday 08/06Audio PlayerTuesday-0806.mp3VmTuesday-0806.mp300:00RPdKPBSD Students Awarded Alaska Communications 2019 Summer Of Heroes, Citizens Invited To Help Count Belugas In Kenai, Kasilof Rivers Facebook0TwitterEmailPrintFriendly分享The KSRM News Department compiled some of the top stories from this past week. Friday 08/09Audio PlayerFriday-0809.mp3VmFriday-0809.mp300:00RPdManager Vs. Mayor, It’ll Be Up For The Voters To Decide, Dunleavy Signs Reduced Capital Budget Into Law Monday 08/05Audio PlayerMonday-0805.mp3VmMonday-0805.mp300:00RPdFour Killed In Weekend Plane Crash Near Girdwood, Alaska Marine Highway System Has Resumed Regularly-Scheduled Service, Two Men Drown In Kasilof River Over The Weekend, Fire Danger Remains ‘High’ With Warmer Temperatures Thursday 08/08Audio PlayerThursday-0808.mp3VmThursday-0808.mp300:00RPdBurn Suspension In Effect For Kenai Peninsula Borough, Borough Will Ask The Voters On Whether Or Not To Raise The Cap On Sales, Recall Dunleavy Event Turns Focus On Recall Knopp Campaign Wednesday 08/07Audio PlayerWednesday-0807.mp3VmWednesday-0807.mp300:00RPdInvocation Ordinance Pulled From Assembly Meeting Agenda, Dunleavy Has No Immediate Plans For Another Special Session, Wildlife Troopers Offer Tips for Hunters As Hunting Seasons Open Statewide
Hyderabad: Eminent speakers at a round table spoke against the NMC bill of the NDA government and demanded that it be scrapped in view of several disadvantages. Telangana Doctors Federation held a round table meet on “Effects of NMC bill on present Health System” at Basheer Bagh Press club on Monday. Telangana Jana Samithi (TJS) chief Prof Kodandaram said the NMC is a ploy of the Centre to take all powers and control of the medical and health sector in the country. Also Read – Man tied up to a tree and thrashed in Nalgonda for harassing woman Advertise With Us He felt States would lose their autonomous hold on health after the new policy comes into effect. Prof Haragopal felt that Centre resolved to privatise medical education without bothering about views of stakeholders. He warned that if brakes were not applied on Centre now (in NMC bill issue), the same strategy would be applied by the NDA government to take control of other sectors also. Also Read – With 61 feet high, Khairatabad Ganesh claimed to be tallest idol in India Advertise With Us Janasena leader and retired CBI JD Laxminarayana felt that rules needed to be framed in such a way that NMC bill should benefit everyone. He called upon stakeholders and intellectuals in the society to frame rules and submit it to the Centre. BC Sankshema Sangham national president R Krishnaiah was highly critical of the Centre for its decision to give authority to private medical colleges to fix fees on 50 per cent of seats, which he said would seriously affect meritorious students from poor financial background.
Pakistani soldiers patrol on a street next to welcoming posters of Saudi Arabian crown prince Mohammed bin Salman in Islamabad on 17 February, 2019. Photo: AFPSaudi Arabia’s powerful crown prince arrives in Pakistan on Sunday, the start of an Asian tour during which he will seek lucrative contracts and demonstrate he still has allies five months after the Khashoggi killing.Mohammed bin Salman, widely known as “MBS”, is expected to land in the capital Islamabad in the late afternoon and stay in Pakistan until Monday.His trip comes amid high tensions in the region: India and Saudi Arabia’s arch-rival Iran — both bordering Pakistan — have accused Islamabad of backing militant groups which have carried out bloody suicide attacks on their soil in recent days.After Pakistan, MBS will travel to India, where he will meet prime minister Narendra Modi and petroleum minister Dharmendra Pradhan.He is expected to finish the trip with a visit to China on Thursday and Friday.Two short stops initially scheduled for Sunday and Monday in Indonesia and Malaysia were postponed on Saturday without explanation.The Asia trip comes five months after the murder of journalist Jamal Khashoggi, a fierce critic of MBS, at the Saudi consulate in Istanbul ignited a diplomatic crisis.Riyadh initially denied the murder, then gave several conflicting accounts of Khashoggi’s death, and now claims he was killed in an unauthorised operation.Turkey said Friday it has not yet revealed all the information it has uncovered in the extraordinary case, which launched a global wave of revulsion and has profoundly tarnished the image of the kingdom, especially that of the crown prince.But for analysts, the Asia tour — the largest outing on the international scene for the crown prince since his participation in the G20 summit in Argentina last December — is a timely demonstration to the West that he still has friends in rising Asia.- ‘Not a pariah’ -He “wants to demonstrate that he is not an international pariah”, said James M. Dorsey, a researcher at the S. Rajaratnam School of International Studies in Singapore.It is a matter of proving that he still has “international access and he can function… as the most senior representative of Saudi Arabia beyond the king”.Li Guofu, director of Middle East studies at the China Institute of International Studies, a government-affiliated think tank, noted that the Khashoggi case continues to cause indignation in Western countries, so visiting them would have been “inconvenient”.”Not travelling to the West does not mean that he cannot come to the East. Saudi Arabia is also making strategic adjustments, and Asia is the new main direction of Saudi diplomacy,” he said.Asian countries, he added, “have an important special characteristic — that is, we don’t interfere in the internal affairs of other countries”.The prince’s trip also includes an important economic component.”China is the largest buyer of Saudi crude, and Saudi Arabia’s other largest clients are all Asian: India, Japan, South Korea,” said Dorsey.”Asia is a source of inward investment into Gulf energy and infrastructure investment; and the future growth of the global economy will be in Asia,” said Karen Young, an analyst with the American Enterprise Institute.Saudi Arabia is not the only Gulf state to pivot east, she added — for all of them, it is a “logical shift”.- Taliban ‘in Islamabad’ -As for Pakistan, where MBS will begin his tour and which is facing a serious balance of payments crisis, it hopes its old ally will throw the struggling economy a lifeline, specifically in the form of a $10-billion investment in a refinery and oil complex in the southwest of the county.Prime minister Imran Khan has already visited Saudi Arabia twice since coming to power last summer.The crown prince’s visit to Islamabad will also apparently coincide with possible new talks between the Taliban and the United States on Afghanistan.The militants announced the discussions would be held in the Pakistani capital on Monday, adding they would also meet Khan. But the US said it has not been invited and Pakistan has not confirmed talks are being held that day.Saudi Arabia and Pakistan are both involved in a months-long push led by Washington aimed at ending the conflict in Afghanistan.It was not immediately clear if MBS would participate in any further discussions on the topic Monday.
Share Neil Leifer/ Courtesy of Sports Illustrated Content ManagementCarl Lewis at the 1984 Olympics, during which he won four gold medals.The Olympic games — including the 2018 Winter Olympics currently underway in PyeongChang, South Korea — have always existed against the background of all kinds of societal change and turmoil — from the buildup to World War II in the 1930s, to the Civil Rights movement of the ’50s and ’60s, to the Black Lives Matter movement of today.And that turmoil and change often overlapped into the games, from Jesse Owens winning gold in front of Adolf Hitler at the 1936 games in Berlin, to the Black Power salute from the Olympic podium in 1968.To discuss the history of black athletes at the Olympics, Houston Matters host Craig Cohen talks with nine-time Olympic gold medalist Carl Lewis, and Dr. Billy Hawkins, a professor at the University of Houston’s Department of Health and Human Performance.Michael HagertyHouston Public Media’s Eddie Robinson talks with nine-time Olympic gold medalist Carl Lewis.Our conversation is part of Houston Public Media’s Legacies initiative, in partnership with Houston’s historically black universities, Prairie View A&M and Texas Southern.MORE: Houston Public Media’s Eddie Robinson talks with nine-time Olympic gold medalist Carl Lewis.
Norman: “Why not? What happened?”Cam: “Come on, bro.”Kuechly: “What?”Cam: “You can’t tell.” [Laughter] “Damn, Luke. What the f–k? Who team you on?” Advertisement HBO’s Hard Knocks is the top dog in the NFL team documentary game, but only follows a team through the end of training camp. Amazon’s All or Nothing embeds with a team for the entire season, which obviously produces some funny moments.One of the funnier scenes from this years’ episodes with the Panthers involves Cam Newton and Luke Kuechly hopping on a Facetime call with ex-teammate Josh Norman before the two teams met in Week 6. During the call, Norman casually asks about tight end Greg Olsen’s injury status, Before thinking, Kuechly gladly discloses that Olsen is out for the game, resulting in everyone cracking up that Kuechly coughed up the info so easily:Norman: “Hey, is [Greg] Olsen playing this week?”Kuechly: “Nope.” Don’t ever tell Luke Kuechly anything. Absolutely nothing. Gave it up WITHOUT HESITATION. 😂 😂Hilarious convo between Cam, Luke & ex-teammate Josh Norman pic.twitter.com/IqSw1kcI0v— Warren Sharp (@SharpFootball) July 19, 2019
Posted by << Previous PostNext Post >> Friday, November 3, 2017 Travelweek Group CORIPPO, SWITZERLAND — It takes a village to build a hotel, as one dwindling town in Switzerland has just proven.Corippo, situated in the mountainside in the district of Locarno, has seen its population dwindle to just 13 people. In an effort to bring much needed tourism dollars to the town, it has decided to transform itself into one giant resort, with rooms, reception and a restaurant built into its existing buildings. The village squares, town hall and church will reinvent themselves as public areas where guests can mix and mingle.To maintain its Old World charm and rustic feel, décor will remain traditional yet stone cottage bedrooms will be upgraded to include modern amenities. There are also plans to add a museum and activities like cooking lessons for guests.The plans have already garnered high praise from the Swiss hotel association Gastrosuisse, who awarded the town with the ‘Hotel Innovation Awards’ for 2017.More news: Honolulu authorities investigate arsons at 3 Waikiki hotels; no injuries reportedWe imagine a mad rush of bookings when the hotel opens in spring 2018 because, well, booking an entire village is just the coolest thing ever. Tags: Switzerland This entire Swiss village will become one really cool hotel
Tags: Air Canada, boeing, Refund Air Canada offers full fee waiver for passengers on 737 Max flights Share Wednesday, March 13, 2019 Travelweek Group Posted by MONTREAL — Air Canada says it will comply immediately with Transport Canada’s safety notice closing Canadian airspace to Boeing 737 Max aircraft operations until further notice.Air Canada’s cancellation and rebooking policies are in place with full fee waiver for affected customers.Air Canada says: “We are working to rebook impacted customers as soon as possible but given the magnitude of our 737 Max operations which on average carry 9,000 to 12,000 customers per day, customers can expect delays in rebooking and in reaching Air Canada call centres and we appreciate our customers’ patience.”Customers are further advised to check the status of their flight on aircanada.com prior to going to the airport.Air Canada adds: “We fully support this decision and will continue to work with Transport Canada towards resolution of this situation as soon as possible.” << Previous PostNext Post >>
The head of the Cyprus Central Bank (CBC) on Monday said she had had to stop looking into bad loans held by Politically Exposed Persons (PEPs) because she “got scared” when police seized her computers and questioned her.In parliament, Chrystalla Georghadji recalled that in 2015 she began gathering data on PEPs who had bad loans with Cypriot banks.In March of that year, someone leaked to the press a list of MPs and their loans at Bank of Cyprus.It showed that out of the 37 MPs listed, 19 owed the bank a total of €51.2m and 13 of those had Non-Performing Loans (NPLs) totalling €35.3m.At the time, furious MPs spoke of an attempt by the Central Bank to blackmail lawmakers through leaks to the press with information about their loan arrears.In May, following a complaint filed by independent MP Zaharias Koulias that his personal data had been violated, police entered the Central Bank with warrants to search the premises.According to Georghadji, when she went to her office one day she found a yellow police tape plastered around it.“The police told me they were seizing my computer. It is a serious matter, there was a criminal investigation, and my mea culpa was that perhaps I got scared.”She was later deposed by the CID.Her computer was subsequently returned to her when none other than Mario Draghi, head of the European Central Bank, intervened on her behalf.“At the time there was a great deal of controversy, there was such hatred directed against me,” Georghadji said.“Prior to that, as auditor-general, I had the public’s esteem but then, after I began to check the NPLs of Politically Exposed Persons, society turned on me. I still resent that.”The Central Bank chief said she was now willing to resume her investigation.“If you agree,” she told legislators, “I shall go back to my office right now and send a circular to the banks instructing them to give us this data [on PEPs].”MPs were unmoved, some accusing Georghadji of smoke and mirrors.Diko’s Angelos Votsis said there was no need for Georghadji to issue a circular to banks. Instead, the Central Bank boss could simply hand over what data she had directly to the House speaker, and parliament would take it from there.The Greens’ George Perdikis said Georghadji was playing the victim card in order to deflect criticism of her weak leadership.“It’s a distraction move. Ms Georghadji is the great absentee. She was absent from the issue of the co-operative bank, absent in the matter of the sale of loans [to third parties].”Earlier, the Central Bank chief had dropped another bombshell out of the blue. She told the House finance committee that there are questions surrounding the legal status of the asset management company (known as Sedipes) recently set up to absorb the bad loans on the legacy co-op’s balance sheet.The co-op’s performing loans and deposits were transferred to Hellenic Bank.“I have to admit that the finance ministry is trying together with us to resolve this problem,” she said of the tenuous legal status of Sedipes.MP were riled that this was the first they were hearing of the issue, some suggesting the government had tried to cover it up.Elaborating on the NPLs in the Cypriot banking system, Georghadji spoke of a significant reduction in bad loans during 2018.In addition to the €6.8bn in bad loans removed from the system as a result of the co-op-Hellenic transaction, Hellenic sold €144m in bad loans to Β2Kapital. In addition, Bank of Cyprus was poised to complete the sale to a third party of €2.8bn in NPLs by the end of the year.But despite the progress, the stock of NPLs still remained high, accounting for as much as 30 per cent of all loans on banks’ portfolios.This, she said, was a far cry from the EU average of 3.6 per cent.And although NPLs may have been scrubbed off banks’ balance sheets, these loans have not disappeared.“Rather, they remain in the real economy, in terms of private debt which currently stands at 220 per cent of GDP,” Georghadji warned.The banker recalled previous assertions she had made, to the effect that it might take up to five years for NPLs to drop to acceptable levels.“In retrospect, and according to guidance issued by the ECB, it appears we’ll need 10 years at least to solve the NPL problem,” she remarked.On the state of the economy in general, Georghadji cautioned against complacency in the management of public finances amid improving fiscal conditions and in particular the increase in public revenues.Her warnings came as ruling Disy together with Diko in co-operation with the government, are working on a package of incentives for consistent borrowers, increases in low pensions and a reduction in consumption tax on fuel, totalling around €100 million.“Positive developments in public revenue should not lead to complacency and unreasonable increases in government spending. The public debt is still very high,” she said.She also referred to the checks being conducted by the Council of Europe’s Moneyval Commission on money laundering, noting that a poor evaluation could have “multiple impacts” on Cyprus.Moneyval’s findings are keenly monitored by credit rating agencies, foreign investors, as well as Cypriot lenders’ correspondent banks who clear transactions in US dollars. You May LikeSUVs | Search AdsThese SUVs Will Take Your Breath Away. Research 2019 Luxury Crossover SUV DealsSUVs | Search AdsUndodiscoverytheword.comGrandma Thinks She Has 3 Cats Until Grandson Notices Thisdiscoverytheword.comUndoMarie Claire | Hanacure4 Stars Who Tried The “Benjamin Button” Facial All Over Your Social FeedsMarie Claire | HanacureUndo Our View: Argaka mukhtar should not act as if he owns the beachUndoPensioner dies after crash on Paphos-Polis roadUndoThree arrested in connection with hotel theftsUndoby Taboolaby Taboola
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The presidential hopefuls will have plenty more time to speak: there are at least 7 more debates scheduled for the primary season.
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