Phoenix Investment Company Limited ( 2016 Abridged Report

first_imgPhoenix Investment Company Limited ( listed on the Stock Exchange of Mauritius under the Financial sector has released it’s 2016 abridged results.For more information about Phoenix Investment Company Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Phoenix Investment Company Limited ( company page on AfricanFinancials.Document: Phoenix Investment Company Limited (  2016 abridged results.Company ProfilePhoenix Investment Company Limited is an investment holding company that works through two segments; insurance and corporate, to provide life insurance products and general financial services. The company controls Phoenix Beverages Limited as its subsidiary which deals in the manufacturing, distribution and sale of beverages. Phoenix Investment Company Limited is listed on the Stock Exchange of Mauritius.last_img read more

How I’d invest after the worst stock market crash in 10 years

first_img I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address Image source: Getty Images. The recent market crash brought to an end a global bull market that had lasted in excess of 10 years. While it’s likely to have caused significant paper losses for many investors, it presents a buying opportunity for those individuals who have a long time horizon.Through purchasing a diverse range of businesses with solid fundamentals, you can capitalise on the stock market’s future growth potential. It recovered from its previous crash in 2008/09 to produce new record highs, and is likely to do likewise over the coming years.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Recovering from a market crashThe recent market crash caught almost all investors by surprise. However, it’s not without precedent. The global stock market has experienced several sudden downturns in its history.A common theme among them is that the stock market has always produced a rally that leads to new record highs. Certainly, that may seem unlikely in the recent aftermath of the 2020 market crash. However, the same could have been said during the global financial crisis and during any other previous downturn.Investors who’ve the self-discipline to buy undervalued stocks after a market crash can generate high returns in the long run. In fact, market downturns often offer the best value opportunities due to weak investor sentiment.A diverse range of sectorsAfter the recent market crash, it’s unclear which sectors will produce strong growth in the coming years. Sectors such as retail, travel & leisure, mining, energy and many others face trading conditions that are exceptionally difficult to accurately predict. They may experience a fast return to pre-coronavirus operating conditions, but may equally have limited opportunities for growth.Therefore, investing across a broad range of sectors could be an effective means of benefitting from the stock market’s recovery while limiting overall risk. Due to weak investor sentiment, many industries that offer long-term growth potential contain companies with wide margins of safety.Through holding a variety of them, you can reduce your reliance on a small number of businesses for your returns in what may prove to be an unpredictable investing environment.Solid financesBuying companies with solid finances after a market crash may also prove to be a sound move. They may be better able to cope with a period of economic weakness than their peers. They could even expand their market position at the expense of rivals that have less robust finances.Through identifying businesses with large cash balances, access to banking facilities, and debt levels that are serviceable even with reduced revenue in the short run, you can build a stronger portfolio that has less overall risk.It may also produce higher returns as you invest in companies that could have a higher chance of prospering in what may prove to be a period of weaker global economic growth. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. How I’d invest after the worst stock market crash in 10 years Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. “This Stock Could Be Like Buying Amazon in 1997” Peter Stephens | Sunday, 12th July, 2020 See all posts by Peter Stephenslast_img read more

Redaction House / Johnsen Schmaling Architects

first_imgArchDaily ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Redaction House / Johnsen Schmaling ArchitectsSave this projectSaveRedaction House / Johnsen Schmaling Architects United States “COPY” Houses “COPY” CopyHouses•Oconomowoc, United States Year:  2014 Architects: Johnsen Schmaling Architects Year Completion year of this architecture project center_img CopyAbout this officeJohnsen Schmaling ArchitectsOfficeFollowProductsWoodConcreteBrick#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesOconomowocHousesUnited StatesPublished on November 20, 2014Cite: “Redaction House / Johnsen Schmaling Architects” 20 Nov 2014. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogFaucetshansgroheKitchen Mixers – Aquno Select M81Vinyl Walls3MVinyl Finishes in HealthPartners Regions HospitalPartitionsSkyfoldWhere to Increase Flexibility in SchoolsCoffee tablesBoConceptMadrid Coffee Table AD19SkylightsLAMILUXFlat Roof Exit Comfort DuoMetallicsTrimoMetal Panels for Roofs – Trimoterm SNVSkylightsVELUX CommercialModular Skylights in Atelier Zimmerlistrasse OfficeStonesNeolithSintered Stone – Iron Moss – Iron CollectionCeramicsTerrealTerracotta Facade in Manchester HospitalWoodBlumer LehmannConsulting and Engineering in Wood ProjectsGlassBendheimLuminous Mirrored GlassWire MeshTwentinoxMetal Mesh – Golf Romeo 7More products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Redaction House / Johnsen Schmaling Architects Year:  Photographs ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Save this picture!© John J. Macaulay+ 15 Share 2014 photographs:  John J. MacaulayPhotographs:  John J. MacaulaySave this picture!© John J. MacaulayRecommended ProductsDoorsSky-FrameInsulated Sliding Doors – Sky-Frame ArcWindowsOTTOSTUMM | MOGSWindow Systems – BronzoFinestra B40WindowsJansenWindows – Janisol PrimoEnclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsText description provided by the architects. The Redaction House is a compact home for a fiber artist and her young family, an unapologetically contemporary addition to a long necklace of large, prosaic spec homes surrounding a small lake in suburban Milwaukee.  Built on a narrow sliver of land that had been considered unsuitable for new construction because of its limited size and prohibitive zoning restrictions, the house is a case study in architecture’s ability to exploit the perceived constraints of a challenging context, offering genuine design solutions that address fundamental issues of privacy, density, and life embedded in the bromide aesthetics of suburbia.Save this picture!© John J. MacaulaySitting on a stepped brick podium carved into the site’s existing slope, the main program is consolidated in a simple two-story wood cube, a deliberately introverted structure designed to  function as an optic filter that focuses on the site’s limited lake vista while editing out views of the built-up context around it.  Approaching the house from the street, a path leads into a linear entry courtyard, an outdoor antechamber surrounded by a slotted brick wall whose decreasing perforation begins the careful process of visual redaction.  At the end of a courtyard, the transparent front door frames an unencumbered view of the lake beyond.  Inside, strategically placed floor-to-ceiling apertures alternate with solid walls, taking advantage of sightlines that are desirable and screening those that are not.  The rooms are grouped along the perimeter of the family’s central gathering space, a two-story living hall where the apertures are stacked vertically to open up views into the sky and the bluff’s deciduous foliage. Save this picture!Floor PlanThe carefully restrained exterior material palette is locally sourced and limited to wood from northern Wisconsin and brick from Illinois.  The main body of the house is clad in horizontal cedar, complemented by strips of dark-stained vertical cedar between the deeply recessed apertures.  Here, narrow painted boards create an unexpected filigree of colors, a subtle nod at the polychrome threads that characterize the fiber artist’s own work. Save this picture!© John J. MacaulayThe building envelope is insulated with soy-based closed-cell expanding foam, yielding extraordinary R-values in walls and roofs of 35 and 55, respectively.  The home’s green roofs further increase the roof’s insulation value; more importantly, they minimize stormwater runoff to improve long-term bluff stability and the lake’s water quality.  Excess stormwater is collected in an on-site raingarden , where it can slowly percolate into the ground.Save this picture!© John J. MacaulayProject gallerySee allShow lessPeter Rosegger Nursing Home / Dietger Wissounig ArchitektenSelected ProjectsCoalimex / G8A Architecture & Urban PlanningSelected Projects Share Projectslast_img read more

Ribeirão Preto Residence / Perkins+Will

first_img Area:  7534 ft² Year Completion year of this architecture project Ribeirão Preto Residence / Perkins+WillSave this projectSaveRibeirão Preto Residence / Perkins+Will Houses Projects Ribeirão Preto Residence / Perkins+Will Year:  2018 ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Brazil CopyHouses, Sustainability•Ribeirão Preto, Brazil “COPY”center_img ShareFacebookTwitterPinterestWhatsappMailOr Clipboard “COPY” CopyAbout this officePerkins+WillOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesSustainabilityRibeirão PretoBrazilPublished on May 06, 2019Cite: “Ribeirão Preto Residence / Perkins+Will” [Residência Ribeirão Preto / Perkins+Will] 06 May 2019. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodPanel Façade SystemRailing / BalustradesMitrexIntegrated Photovoltaic Railing – BIPV RailingMetal PanelsAurubisCopper Alloy: Nordic BrassHanging LampsVibiaHanging Lamp – VOLConcreteKrytonCrystalline Waterproofing – KIMSkylightsLAMILUXGlass Skylight FE PassivhausPorcelain StonewareCosentinoSurfaces – Dekton® Chromica CollectionBricksFeldhaus KlinkerThin Bricks – ClassicGlassDip-TechDigital Ceramic Printing for Interior DesignWoodStructureCraftEngineering – FootbridgesAluminium CompositesCymat Technologies Ltd.Bundang Doosan Tower – Alusion™ Stabilized Aluminum FoamTable LampsRoss GardamDesk Lamp – OraMore products »Save想阅读文章的中文版本吗?巴西住宅 Ribeirão Preto / Perkins+Will是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Photographs Photographs:  Leonardo Finotti Manufacturers Brands with products used in this architecture project Manufacturers: AutoDesk, Brich marmores e pedras nobres, Deca, Mazer marcenaria, Riberbond, TresunoArquiteto Responsável:Fernando VidalProject Team:Fernando Vidal, Julia Paoliello, Natália Martins, Fred Zara, Flavia Henriques e Rodrigo GianoniEngineering:Rocha ConstrutoraLandscaping:Rodrigo OliveiraCollaborators:Dulce Ferraz (Design de Interiores)City:Ribeirão PretoCountry:BrazilMore SpecsLess SpecsSave this picture!© Leonardo FinottiRecommended ProductsDoorsVEKADoors – VEKAMOTION 82GlassLibartLeanTo Retractable StructuresWoodSculptformTimber Click-on BattensWoodLunawoodThermowood FacadesText description provided by the architects. Located in São Paulo’s countryside, Ribeirão Preto Residence was designed to house a young couple and their two children. Save this picture!© Leonardo FinottiPerkins+Will’s studio in São Paulo took the challenge of building a one-story house, as requested by the residents, on an accentuated sloped terrain. The architects divided the program in two volumes, placing them in an L-shaped layout. The first block holds the main entrance and is destined to the social areas. Placed in the therrain’s highest portion, the first volume acts as a shield to the second one, located at the lot’s lower section and designated to the private uses, creating an even more private ambiance. The distribution also allows access to the gardens by every room in the house, providing a full nature-connected experience, and improved insulation and ventilation in all areas.Save this picture!© Leonardo FinottiSave this picture!Planta – Primeiro pavimentoSave this picture!© Leonardo FinottiRaw concrete, warm wood, metallic structures and glass combined to a lush green landscape create the project’s modern, yet welcoming design. Transparency in the glass walls and the presence of a natural material such as wood increase the constant contact with nature. To complete the biophilic experience the designers added a green roof on top of the second volume. The detail also improves thermal, an important matter since the local weather is quite warm.Save this picture!© Leonardo FinottiFinally, an overhanging structure pool was placed over the declivity, completing the view from both.Save this picture!© Leonardo FinottiProject gallerySee allShow lessGuest House 8q / 3370 StudioSelected Projects”Terra Nullius” Thesis Addresses the Israeli-Palestinian Conflict in the Middle EastArchitecture News Share ArchDaily Save this picture!© Leonardo Finotti+ 25Curated by Matheus Pereira Share Architects: Perkins+Will Area Area of this architecture projectlast_img read more

Burundian government steps up offensive against freedom of information

In recent weeks, the government has been tightening its grip on the media outlets and journalists that are still operating in Burundi despite the ongoing situation of virtual civil war.With the leading privately-owned news radio stations still closed since 14 May, the government has now turned its sights on Iwacu, a privately-owned weekly that is regarded as moderate and professional and is the only independent newspaper to have kept publishing throughout the turmoil. Iwacu has been the target of virulent attacks by presidential media adviser Willy Nyamitwe, an official who has assumed an increasingly important and radical role on the Burundian political stage in recent months.In a Facebook post on 2 September in response to an interview he disliked, Nyamitwe described Iwacu’s journalists as “tricksters” and “swindlers” – charges that have not been taken lightly by Iwacu editor Antoine Kaburahe because of the chaos still prevailing in Burundi.In a reply on Iwacu’s website, Kaburahe accused Nyamitwe of “trying to prepare public opinion in advance in order to justify a future action,” and pointed out that his newspaper, like any responsible media outlet, had a duty to question what the authorities do. September 11, 2015 – Updated on January 20, 2016 Burundian government steps up offensive against freedom of information Jean-Claude Ciza, a journalist who used to work for RTNB and now works with Radio France Internationale and Belgian broadcaster RTBF, was savagely beaten with a steel bar in Bujumbura on 4 September by Désiré Uwamahoro, a police officer named in UN reports as one of Burundi’s leading human rights violators.At the moment of the attack, Ciza was speaking by telephone with RTBF’s Burundi correspondent, for whom he had been providing a report on the situation in the Bujumbura district of Musaga.Ciza said Uwamahoro asked him to reveal the location of journalists working for Radio Isanganiro, Bonesha and Radio-Télé Renaissance and the location of RFI correspondent Esdras Ndkikumana.“There were lots of you around during the demonstrations but now you are all alone in the field so here is your lesson in how to behave,” Uwamahoro said as he began to hit him. At no point did the stunned Ciza try to flee, not even when Uwamahoro stepped back for a moment because another intelligence officer told him he had been ordered to shoot Ciza if he tried to run away.Jimmy Elvis Vyizigiro – a journalist working for the France 24 programme “Les Observateurs” and for Benevolenjia, a Dutch NGO that produces radio content promoting reconciliation – was attacked in his home on 27 August by four masked intruders who pinned him to the ground and beat him as they searched for the documents he had collected for a report about technical flaws in the electoral process. “We know you are a journalist – give us what you are doing on the elections,” his assailants said, burning his arms when he refused to cooperate. They finally left, taking documents and his audio recorder, camera and computer. Vyizigiro described how he was tortured in a video interview for Iwacu. Since then, he had been in hiding.RFI and AFP correspondent Esdras Ndikumana was arrested and then badly beaten on 2 August. Several sources say it was Désiré Uwamahoro (the previously named police officer) who ordered his arrest.More than a month later, this act of violence remains unpunished even though, in a statement posted on Twitter, the president’s office said it wanted to “urgently determine the circumstances of these acts worthy of a bygone age so that those responsible can be prosecuted and punished according to the law.” Extraordinary violence Reports “Instead of trying to butter up the government, Iwacu does what it is supposed to do, playing a role guaranteed by the constitution,” Kaburahe wrote. “The president still talks about ‘democracy’ so our work should not get his media adviser’s back up. Democracy means a wide range of media outlets. Conflicting opinions are a sign of good democratic health.”Kaburahe’s analysis is clearly not shared by the Burundian authorities, who have been intensifying their crackdown on journalists with both national and international media outlets.“We continue to pay close attention to the tragic events in Burundi, where NGOs and the United Nations are documenting the violence that the authorities are deploying against journalists,” said Clea Kahn-Sriber, the head of the Reporters Without Borders Africa desk. “It is illusory to imagine that you can forcibly control the media with complete impunity. Those responsible will one day be called to account. Now that the necessary institutions have been established, normality must be restored and the spiral of violence must end. This is the duty of a democratic government, which is how the Burundian government likes to consider itself.” to go further Crédit Photo: Prestation du gouvernement burundais, août 2015 ©IwacuWilly Nyamitwe © Organisation November 27, 2020 Find out more No suspect has ever been arrested although the beating took place in the presence of many witnesses at the headquarters of the National Intelligence Service.Judicial harassmentJournalists who took the risk of remaining in Burundi or returning after having fled at the height of the violence have been the targets of judicial harassment and abusive legal proceedings by the authorities with the apparent sole aim of increasing the pressure on them.They include Gérard Nibigira, RPA’s correspondent in the central city of Gitega, who was summoned by the local prosecutor’s office on 28 August and accused of insulting the president. When presented to the court, none of the witnesses confirmed the accusation.The targets have also included Emmanuel Ndayishimiye, Bonesha FM’s correspondent in the northern province of Muramvya. His home was surrounded on the night of 24 August by about ten policemen who finally carried out a search of the house in the early hours.The head of the National Intelligence Service, which ordered the search, said it received information that Ndayishimiye, who had returned from Kigali the day before, had arms in his home. Nothing was found.Continuing media vacuumThe privately-owned radio stations closed by court order after the 13 May coup attempt have still not been able to resume operating, ostensibly because of two ongoing investigations, one into the damage they sustained and the other into the pro-coup messages allegedly broadcast by all of Bujumbura’s privately-owned news radio stations (Radio Isanganiro, Bonesha FM, RPA and Radio-Télé Renaissance) except pro-government Radio Rema.In interview for the Infos Grands Lacs website, presidential spokesman Willy Nyamitwe said there was no guarantee that these radio stations would be able to reopen in the near future. As grounds, he cited the needs of an investigation, although it has made no visible progress since its launch nearly four months ago. Four Burundian journalists complete 12 months in arbitrary detention BurundiAfrica News Follow the news on Burundi News Receive email alerts Radio-Télé Renaissance director Innocent Muhozi said he did not think the judicial authorities had the power to decide whether or not the radio stations would be allowed to resume operating.In an interview for the website of Radio Isanganiro, he said: “We all know how these radio stations were closed (…) I think they were destroyed and closed by the security services and as long as these security services continue to have a bigger say than the legitimate political entities (…) we will have a problem.”The prolonged closures are having a big financial impact on these radio stations. The manager of one of the closed stations said that, if a solution was not found soon, the staff would have to be laid off temporarily. Some of the stations continue to post content on their websites, but this is not seen by most the public in Burundi, where the Internet penetration rate is still low.This grim picture contrasts with the image that the government is trying to protect. A new government PR campaign is spotlighting the 15 or so radio stations that continue to operate in Burundi. But they are all entertainment, religious or pro-government stations.The Burundian government news agency has, for example, published a dispatch about a visit by the vice-president to Gitega-based Star FM, which was awarded a laptop for its election coverage. Other radio stations based in the provinces continue to operate but only reach a very local audience. They include Radio Umoco FM in Ngozi.An international observer said these provincial pro-government radio stations not only now monopolize the airwaves but are also increasingly free to broadcast extremist messages with complete impunity because the National Council for Communication, which regulates the media, does not have the resources to monitor the provincial radio stations.The level of media freedom in Burundi, once often cited as a regional example, has gradually declined since 2013, when an increase in restrictive laws and acts of intimidation against journalists began.Ever since it was announced the President Pierre Nkurunziza would seek a third term, the authorities have been cracking down openly on the media and most of the country’s journalists have fled abroad. Those that stayed mostly live in hiding to avoid being located and arrested by the intelligence services.The slim hopes raised by the appointment of a new cabinet in August soon evaporated and the few remaining observers in Bujumbura describe a state of virtual civil war with Kalashnikov gunfire and grenade explosions being heard every night and nocturnal arrests now the rule.Several civil society representatives and politicians have been killed or have been the targets of assassination attempts.Burundi is ranked 145th out of 180 countries in the 2015 Reporters Without Borders press freedom index. October 21, 2020 Find out more Help by sharing this information The 2020 pandemic has challenged press freedom in Africa RSF_en News BurundiAfrica Burundian appeal court upholds prison sentences for four journalists June 5, 2020 Find out more read more

Seniors Get Duped in Pigeon Drop Scam

first_img Make a comment Subscribe Top of the News Business News Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Seniors should be wary of people claiming to have found large sums of cash and wanting to share in their sudden fortunes.In the pigeon drop scam, con artists befriend victims in public and claim they have found money in a bag, envelope or handkerchief and offer to split the proceeds. They then ask seniors for “good faith” money to demonstrate their commitment to sharing the funds.The thief places a portion of the money in another bag and gives the bag to the senior to hold. While the senior is distracted, the thief switches the bag, leaving the unsuspecting victim with paper shreds or other worthless filler.By the time the senior checks the bag, the scam artist is gone.Tips:• Do not talk to strangers who claim to find cash or valuables• Do not give anything to a stranger as an indication of “good faith”• Immediately report any found property to local law enforcementFor more information on scams that target seniors, go to the Elder Abuse/Financial Fraud pages of the District Attorney’s website ( or Your email address will not be published. Required fields are marked * Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Herbeauty5 Things To Avoid If You Want To Have Whiter TeethHerbeautyHerbeautyHerbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeauty6 Strong Female TV Characters Who Deserve To Have A SpinoffHerbeautyHerbeautyHerbeauty7 Reasons Why The Lost Kilos Are Regained AgainHerbeautyHerbeautyHerbeauty8 Easy Exotic Meals Anyone Can MakeHerbeautyHerbeautyHerbeautyA Mental Health Chatbot Which Helps People With DepressionHerbeautyHerbeauty 0 commentsShareShareTweetSharePin it center_img Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Community News Name (required)  Mail (required) (not be published)  Website  First Heatwave Expected Next Week Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPasadena Water and PowerPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Public Safety Seniors Get Duped in Pigeon Drop Scam Published on Friday, May 27, 2016 | 11:25 am Community News More Cool Stufflast_img read more

[Loan Moratorium & Interest Waiver] “Highest Level Expert Committee Convening Meetings & Will Take Holistic Decision In Two Weeks”: Centre Tells SC, Interim Order To Continue [Read Order]

first_imgTop Stories[Loan Moratorium & Interest Waiver] “Highest Level Expert Committee Convening Meetings & Will Take Holistic Decision In Two Weeks”: Centre Tells SC, Interim Order To Continue [Read Order] Sanya Talwar9 Sep 2020 11:36 PMShare This – xThe Centre informed Supreme Court on Thursday that an Expert Committee at the highest level had been constituted in order to take a decision on the issue of moratorium extension, interest during moratorium, interest on interest and other related issues. Solicitor General Tushar Mehta sought two weeks time in order to place on record a comprehensive affidavit in this regard before a bench…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Centre informed Supreme Court on Thursday that an Expert Committee at the highest level had been constituted in order to take a decision on the issue of moratorium extension, interest during moratorium, interest on interest and other related issues. Solicitor General Tushar Mehta sought two weeks time in order to place on record a comprehensive affidavit in this regard before a bench of Justices Ashok Bhushan, R. Subhash Reddy & MR Shah .Court granted the Solicitor General two weeks to place on record the requisite affidavit detailing and observed that interim orders shall continue till the next date.”…..In view of the aforesaid, we are inclined to grant two weeks to file appropriate affidavit. We make it clear that we shall consider different prayers made by petitioners on the next date”Further to this, Court noted directed that all decisions taken by the RBI, GOI or the banks should be placed before the Court for consideration.Bench was hearing plea(s) seeking extension of the Covid19 induced loan moratorium & waiver of accruing interest.When the hearing began, SG sought deferment of the hearing for two weeks. This led to submissions on behalf of various stakeholders, sectors & individual borrowers, whereby they insisted on issuance of interim orders for protection. Though the bench was inclined to pass interim orders initially, with respect of charging of interest on interest on loans during moratorium, it did not do so and listed the matter for further consideration on September 28. Senior Advocate CA Sundaram submitted that banks had now started debiting stating that there is no moratorium. “They say although we will not declare you NPA, your liabilities have started”. 6 months interest being debited,” he added.Senior Advocates Kapil Sibal & Rajiv Dutta expressed concerns of the Real Estate Sector and the individual borrowers respectively and batted for interim orders.Dutta: Important to remember that people are suffering. Imperative to make a statement for the Centre on non-charging of interest on interest.Sibal: (in context of Real Estate industry): Downgrading taking place and RBI has been protecting the downgrading.Senior Advocate Harish Salve made submissions on behalf of IBA and urged the court to not pass interim orders. Solicitor General Tushar Mehta also pointed out that the arguments were being made in an adversarial context and that this would prejudice not only various sectors but could have devastating consequences. Next, the bench enquired Salve about the charging of penal interest on loans during moratorium. Salve replied by stating that there was no default interest which was being accrued and that only compound interest was. “The entire banking structure works on compound interest and that is what is being done,” he said.Sibal refuted this and said that contracts operate in normal situations and that this was no normal condition. In light of the aforementioned,  case stood adjourned.The Supreme Court on September 3 protected those accounts from being declared as Non-performing Assets (NPAs) which were not classified as NPAs on August 31 till case is disposed off.Advocates Shivani Khanwilkar, Saloni Shah, Manhar Singh Saini and Samit Shukla (from DSK Legal), Ashish Virmani, Abhimanyu Bhandari, Vinayak Bhandari, Ashok Lambat & Vishal Tiwari also appeared for Petitioner(s) Background:The bench was hearing a plea filed by an Agra resident Gajendra Sharma, who has sought a direction to declare the portion of the RBI’s March 27 notification “as ultra vires to the extent it charges interest on the loan amount during the moratorium period, which create hardship to the petitioner being borrower and creates hindrance and obstruction in ‘right to life’ guaranteed by Article 21 of the Constitution of India”.Earlier, the Supreme Court had said there was “no merit in charging interest on interest” for deferred loan payment instalments during the moratorium period announced in wake of the COVID-19 pandemic & that once moratorium is fixed, it should serve the desired purposes and the government should consider interfering in the matter as it could not leave everything to banks.The petitioner has sought a direction to the government and the RBI to provide relief in repayment of loan by not charging interest during moratorium period.On June 4, the top court had sought the Finance Ministry’s reply on waiver of interest on loans during the moratorium period after the RBI said it would not be prudent to go for a forced waiver of interest risking financial viability of the banks.The apex court had said there are two aspects under consideration in this matter – no interest payment on loans during the moratorium period and no interest to be charged on interest.It had observed that these are challenging times and it is a serious issue as on the one hand, moratorium is granted and on other hand, interest is charged on loans.On May 26, the top court had asked the Centre and the RBI to respond to the plea challenging levy of interest on loans during the moratorium period.The RBI in its reply has told the court that it is taking all possible measures to provide relief with regard to debt repayments on account of the fallout of COVID-19 but it does not consider it prudent to go for a forced waiver of interest, risking the financial viability of the banks it is mandated to regulate, and putting the interests of the depositors in jeopardy .The RBI said the March 27 circular announcing moratorium was later modified on April 17 and May 23 by which the moratorium period was extended by another three months that is from June 1 to August 31, 2020 on payment of all instalments in respect of term loans (including agricultural term loans, retail and crop loans).”It is submitted that regulatory dispensations permitted by the Reserve Bank of India vide the aforesaid circulars dated March 27, 2020 which subsequently stood modified on April 17, 2020 and May 23, 2020 were with the objective of mitigating the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic and to ensure the continuity of viable businesses. Therefore, the regulatory package is, in its essence, in the nature of a moratorium/deferment and cannot be construed to be a waiver,”sThe RBI had said that in order to ameliorate difficulties faced by borrowers in repaying accumulated interest for the moratorium period, on May 23 it had announced that in respect of working capital facilities, lending institutions may, at their discretion, convert the accumulated interest for the deferment period up to August 31, 2020, into a funded interest term loan (FITL) which shall be repayable not later than March 31, 2021.Click Here To Download Order[Read Order]Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Sum of cash stolen from car in Strabane last night

first_imgHomepage BannerNews RELATED ARTICLESMORE FROM AUTHOR By News Highland – February 23, 2018 Sum of cash stolen from car in Strabane last night Facebook WhatsApp Pinterest Police in Strabane are appealing for information after a sum of money was taken from a vehicle in the Ballymagorry area last night.The incident is believed to have occurred sometime 7:45pm and 8:45pm last night.Sergeant Joni Beatty is appealing to anyone who has any information or who witnessed anything suspicious in the area to contact police in Strabane on 101 quoting reference 1344 22/02/18 or Crimestoppers. DL Debate – 24/05/21 Facebook WhatsApp Google+center_img Nine til Noon Show – Listen back to Monday’s Programme Loganair’s new Derry – Liverpool air service takes off from CODA Important message for people attending LUH’s INR clinic Previous articleLoreto, Milford win U17 Ulster Schools FinalNext articleJohn Kelly named on Irish Team for European Winter Throwing Cup News Highland Arranmore progress and potential flagged as population grows News, Sport and Obituaries on Monday May 24th Twitter Twitter Google+ Pinterestlast_img read more

Donegal expected to be worst hit with more snow forecast tonight

first_img WhatsApp Arranmore progress and potential flagged as population grows Community Enhancement Programme open for applications By News Highland – February 8, 2018 Facebook Twitter Twitter RELATED ARTICLESMORE FROM AUTHOR Previous articleDublin v Donegal Preview – Declan BonnerNext articleLYIT Ladies lose to Carlow as Roma McLaughlin hits a hat trick News Highland Donegal expected to be worst hit with more snow forecast tonight Facebook Google+center_img Pinterest Nine til Noon Show – Listen back to Monday’s Programme Google+ WhatsApp Loganair’s new Derry – Liverpool air service takes off from CODA Important message for people attending LUH’s INR clinic Pinterest Homepage BannerNews Met Eireann is warning that temperatures are set to plunge this evening, forecasting snow, frost and ice for Donegal and throughout the country.A Status Yellow snow-ice warning has been issued, beginning at 9pm tonight until 9am tomorrow morning.Scattered snow showers are forecast, with accumulation of less than 3cm.Showers are set to be more frequent in the west and north of the country.Meanwhile, Donegal County Council has said that all routes are to be gritted from 7pm this evening: Publicans in Republic watching closely as North reopens furtherlast_img read more

People skills will aid work security

first_imgRelated posts:No related photos. Previous Article Next Article Comments are closed. People skills will aid work securityOn 20 Jun 2000 in Personnel Today He believes hiring people who are able to develop interpersonal skills, such as defusing potentially dangerous situations, is vital to reducing incidents.Earlier this month the Health and Safety Commission announced a programme to reduce violence at work by 10 per cent within three years (Personnel Today, 13 June).last_img read more