Square Mile lags behind Orkney Islands to clinch the slowest internet in Britain

first_img Square Mile lags behind Orkney Islands to clinch the slowest internet in Britain Friday 9 November 2018 6:09 pm August Graham Companies, meanwhile, can often afford to front the costs to bring in new technology, while residents are instead turning more and more to mobile alternatives.Although other areas of London have better speeds than in the Square Mile, no boroughs in Inner London made the UK’s top 100.RS Components, which drew on data from Ofcom, said internet access is vital for the economy, but that despite recent investment “the UK is still struggling to bridge the gap between those with sufficient internet access and those without.” Homes in the City of London have the slowest internet in the country, with speeds even in the remote Orkney Islands outstripping the square mile, a study has shown.Residential fixed-line broadband speeds average 15.1 megabits per second in the City, almost seven times slower than York, which is the fastest in Britain. whatsapp whatsapp Share This puts the Square Mile at the bottom of the pile, behind the Orkney Islands, with 17.6 Mbps, Powys in Wales, with 20 Mbps, and Argyll and Bute on the west coast of Scotland, RS Components found.York, where speeds average 102.9 Mbps, is the fastest in the country, followed by North East Lincolnshire and West Dunbartonshire.The government announced in July it would boost rural communities with a £45m investment to improve broadband speeds.The money will be given to local communities where speeds of 30 Mbps or more are not available or planned.Those who live in the City of London, unlike businesses, are often forced to deal with slower internet speeds, as it is difficult to replace old copper lines in the densely populated area. Tags: Trading Archivelast_img read more

News / With new ULCVs on the horizon, another Asia-Europe loop was ‘inevitable’

first_img By Mike Wackett 21/01/2019 The CMA CGM AMERIGO VESPUCCI in the port of Rotterdam With its member lines receiving a large number of newbuild ULCVs this year the addition of a seventh loop between Asia and North Europe by the Ocean Alliance was “inevitable” said Drewry.While the 2M rival alliance has opted to accommodate six extra newbuild ULCVs into its network revamp by slowing vessel speeds and cutting port calls in order to allow more buffer time in schedules and thereby to improve reliability, it would appear that the Ocean Alliance had little choice other than to expand its offering from later this year suggested the consultant.The Ocean Alliance partners – CMA CGM, COSCO/OOCL and Evergreen – are responsible for 62% of the approximate 460,000 teu of ULCV deliveries stemmed for this year noted Drewry, with the Chinese state-owned carrier due to receive 12 19,200-21,200 teu vessels in the first half of the year alone.“No amount of slow steaming could hide all of that new tonnage and a new standalone Ocean Alliance service was inevitable,” said Drewry.Moreover, a stunning 620,000 teu of new ULCV tonnage is slated for delivery in 2020, including big orders placed by HMM, Evergreen and CMA CGM.And rumours have been recently circulating in the industry that Cosco subsidiary OOCL is about to place an order at a Chinese yard for six 23,000 teu LNG-ready ULCVs.However, carriers also now have sufficient power and influence over desperate Asian shipyards to defer deliveries significantly should they need to.Publishing the details of the Ocean Alliance’s new loop, as part of the VSA’s revised network commencing in April, OOCL said last week that the extra Asia-North Europe loop would allow “room for growth”.“With the addition of the new Loop 7 product, the increased frequency between Asia and North Europe will allow for greater loading flexibility, confidence on service commitments, as well as room for growth through the extended network coverage,” said OOCL.The average number of dedicated Asia-North Europe services has declined dramatically over the past decade from a high of 40 in 2012 to just 18 currently, while during the same period of time the average size of vessel deployed on the trade has jumped from just under 10,000 teu to 16,148 teu.However, Drewry also believes that there is further scope for ULCVs to be introduced on the route given that eight of the current Asia-North Europe loops continue to operate with sub-ULCV size ships.It added that only five out of the 18 services currently deploy 12 vessels – which it expects eventually to become the norm on the route – and reasoned that there were still opportunities to upsize or phase more units into the existing loops of the alliances.The decision is also related to the forthcoming higher bunker costs associated with IMO 2020 low sulphur regulations, prompting carriers to maximise slow steaming to conserve fuel across their networks, suggested Drewry.“The amount of ULCVs arriving over the next few years is an unwanted legacy from a period when carriers were over confident in the market and possibly misguided in the benefits those ships offer,” said Drewry.“Nonetheless, we believe they will be able to mitigate the capacity inflation by delaying deliveries and slowing services.”last_img read more

News / Danaos profits and recharters on the up as liner ‘purple patch’ continues

first_img Ocean carriers and containership owners are in the midst of the richest vein for the liner sector in over a decade. The shipping lines are confidently predicting record earnings for the first quarter, with the expectation that the current profitability purple patch will continue at least as far as Q2, underpinned by sky-high spot rates, and beyond that boosted by annual contract rate increases being reported of 75% over the year before. Meanwhile, the shipowners that lease well over half of their ships to carriers have locked-in strong profits for at least the next two years, given the length of the fixed-term period charters being agreed. “In the fourth quarter of 2020, we witnessed the most outstanding turnaround in the container industry for as long as I can remember,” said veteran Danaos chief executive John Coustas. He was commenting during the Greek shipowner’s Q4 and full-year 2020 earnings presentation yesterday. “We have concluded 27 re-charterings over the past three months, for periods of 12-24 months, at rates between two and three times the rates of the expiring charters,” said Dr Coustas. He added that in re-fixing the ships, Danaos had covered over 90% of its fleet’s operating days this year and a “significant portion” of 2022 at much higher daily hire rates. The charter extensions would see its 2020 operating revenue of $462m exceeded “by at least $100m”. Indeed, the shipowner has agreed charter extensions on just under half of its 58 vessels in the past three months, with for instance Zim extending its charter of the 4,250 teu panamax Zim Sao Paolo by two years, with the hire rate rocketing from $8,300 to $21,150 a day. “Now everyone is focused on whether the current market strength is sustainable, and for how long,” said Dr Coustas. “Although there have been new orders placed, the current orderbook is at historically low levels. Since there is a two-year lead time for new orders to hit the water, supply growth should be moderate for the next couple of years.”Danaos reported net income for 2020 from the charter of its fleet of ships, ranging in size from 2,200 teu to 13,100 teu, of $153.6m, up from $131.3m in the previous year, with much of the estimated extra $100m in revenue for this year going straight to the bottom line. The shipowner said it had received $3.9m from the receivers of bankrupt Hanjin Shipping as part of its $600m claim for unpaid charter hires when the South Korean carrier collapsed in 2016. Moreover, Danaos said it had seen its bond holdings in carriers Zim and HMM, negotiated as part of their financial restructures, increase in value in keeping with the lines’ improved profitability – its 10m shares in the Israeli carrier are now valued at $205m, after its recent successful listing on the NYSE. Meanwhile, Danaos carrier client Hapag-Lloyd yesterday advised the market that its earnings, based on its preliminary figures, would be much higher than expected for the first quarter, with an ebitda of “at least $1.8bn” compared to $517m in Q1 20. With January voyage results in, and February and March estimates based on firm bookings, Hapag-Lloyd is expecting to outperform its Q4 profitability by a staggering 50% in Q1 this year. Lars Jensen, of SeaIntelligence, said the announcement provided “the first quantified view on the current market strength from a major carrier”. The Zim Luanda, one of Danaos’ Panamax vessels on hire to Zim By Mike Wackett 17/02/2021last_img read more

Coronavirus: No new deaths and 14 new cases as more positive news on vaccine front

first_imgHome News Coronavirus: No new deaths and 14 new cases as more positive news… News Electric Picnic Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Coronavirus: No new deaths and 14 new cases as more positive news on vaccine front Electric Picnic Electric Picnic organisers release statement following confirmation of new festival date WhatsApp Facebook Pinterest By Alan Hartnett – 29th July 2020 Twitter Twitter Facebook RELATED ARTICLESMORE FROM AUTHOR TAGSCoronavirusCovid-19 Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Previous articlePortarlington youngster nominated for Republic of Ireland Women’s U-16 Player of the Year AwardNext articleIn Pictures: Right craic in Barrowhouse for this year’s Cul Camp Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. News WhatsApp There have been no new Coronavirus death reported today – meaning 1,763 is the death toll in Ireland still.While there has been a total of 14 new cases of Coronavirus have been diagnosed in Ireland today.That means there is now a total of 25,943 confirmed cases of COVID-19 in Ireland.Dr Ronan Glynn, Acting Chief Medical Officer, Department of Health, said; “11 of today’s cases were close contacts of confirmed cases and half of these had no symptoms.“If you are concerned that you have been in contact with a confirmed case please come forward for testing. Do not wait for symptoms to emerge.“There are now 8 confirmed cases of COVID-19 in our hospital system, the lowest number since early March.“However, across Europe the pandemic appears to be accelerating once again. We have an opportunity to avoid a similar scenario here.“We must take it by focusing once again on keeping our distance, washing our hands, wearing face coverings and continuing to make safe decisions that will protect ourselves, our friends, our families. No one is safe unless everyone is safe.”Positive Update on VaccinesUS biotechnology company Moderna’s Covid-19 vaccine induced a robust immune response and prevented the coronavirus from replicating in the noses and lungs of monkeys, according to a study in the New England Journal of Medicine.The fact that the vaccine prevented the virus from replicating in the nose is seen as particularly crucial in preventing it from being transmitted onward to others.The same outcome did not occur when the vaccine being developed by AstraZeneca and Oxford University was tested on monkeys, though that vaccine did prevent the virus from entering the animals’ lungs and making them very sick.See Full Report HereImportant information Symptoms of Covid-19 include:CoughShortness of breathFeverBreathing difficulties.Further resources:The HSE: Official advice on the coronavirus in Ireland. This is being updated based on the number of confirmed cases and how the virus spreads in Ireland.The Department of Foreign Affairs: Official advice on where to avoid travelling to. Also a resource for those who are abroad.The World Health Organization (WHO): The UN agency on global public health publishes statements and daily situation reports based on the latest data.European Centre for Disease Prevention and Control (ECDC): The EU agency on the number of cases, deaths and how it’s spreading in Europe.The Johns Hopkins University map: A heat map of the confirmed cases across the world.A helpline for older people who are concerned about the coronavirus has been launched by Alone. The number is 0818 222 024, and it’s open Monday to Friday, 8am-8pm.SEE ALSO – Laois men appointed to key roles in An Post and Bank of Ireland Pinterestlast_img read more

Kim and Ri Touring Rungra

first_img News News SHARE [imText1][imText2][imText3][imText4][imText5][imText6][imText7][imText8][imText9][imText10][imText11] North Korea tries to accelerate building of walls and fences along border with China Facebook Twitter Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak By Daily NK – 2012.07.26 12:11pm center_img News AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] Kim and Ri Touring Rungra RELATED ARTICLESMORE FROM AUTHOR There are signs that North Korea is running into serious difficulties with its corn harvest News last_img read more

Obama previews U.S. tax reforms

first_img The White House says that the planned changes to the capital gains tax will almost exclusively impact the top 1% of income earners, and will address a basic unfairness in the current system. “Most middle-class retirees spend down their assets during retirement, which means they owe income taxes on whatever capital gains they’ve accrued. But the wealthy can often afford to hold onto assets until death – which is what lets them use the stepped-up basis loophole to avoid ever having to pay tax on capital gains,” it says. By closing this loophole and subjecting billions of dollars to capital gains tax, the government says that its proposals will unlock capital for productive investment. Among numerous other measures, Obama is also planning to propose retirement savings reforms that would require every employer with more than 10 employees that does not currently offer a retirement plan to automatically enroll their workers in an individual retirement account (IRA). It would also provide tax cuts for auto-IRA adoption, and for businesses that choose to offer employer plans or switch to auto-enrollment. And, it would propose to expand access to employer savings plans to part-time workers. The plan would also prohibit contributions to, and accruals of additional benefits in, tax-preferred retirement plans and IRAs once balances reach about $3.4 million. Finally, the proposal would impose a seven basis point fee on the liabilities of large U.S. financial firms. Namely, the 100-odd firms with assets of more than US$50 billion. “The president’s proposal would attach a cost to leverage for the largest financial firms, leading them to make decisions more consistent with the economy-wide effects of their actions, which would in turn help reduce the probability of major defaults that can have widespread economic costs,” the White House says in a statement. The U.S. securities industry is condemning the idea of a new levy on large financial firms. the president and CEO of the Securities Industry and Financial Markets Association (SIFMA), Kenneth Bentsen, Jr., said, “The imposition of a special, sector-only tax on the vast array of financial institutions captured by the president’s proposal under the guise of further limiting excessive risk completely ignores the changes this administration, Congress, regulators and industry have implemented over the past six years. “Tax rules are often blunt instruments, and the tax code is not the place for a broad, new, and duplicative financial regulatory regime. ‎This $110 billion targeted tax increase on America’s most productive financial institutions could have far-reaching unintended consequences that will curtail economic growth and job creation while negatively impacting the allocation of credit and the provision of financial services to individuals and institutions,” he added.‎ Keywords United States James Langton Related news U.S. congressman introduces residency-based tax bill Ahead of tonight’s State of the Union address, U.S. President Barack Obama, is previewing a series of tax reforms that will be unveiled in that speech, including measures to close loopholes for the wealthy, bolster retirement savings, and impose a tax on large financial firms. Obama announced a plan that, he says, is designed to eliminate loopholes that let the wealthiest individuals and big corporations avoid paying their fair share in taxes, and to help middle-class families. Among other things, he’s proposing to raise the capital gains tax rate to 28%, and to close what he says is the “single-largest capital gains loophole”. He will also propose a new fee on borrowing by the biggest financial firms; and, introduce a plan for automatic retirement savings. center_img White House, Congress agree on $2 trillion virus rescue bill Share this article and your comments with peers on social media US adds 1.8 million jobs in a sign that hiring has slowed Facebook LinkedIn Twitterlast_img read more

Two RBC GAM funds get new versions

first_imgTessie Sanci Toronto-based RBC Global Asset Management Inc. (RBC GAM) Monday announced two new versions of existing funds in its lineup. RBC Balanced Growth & Income Fund has grown to over $900 million since inception in August 2013. The corporate class version of this fund being launched today is suitable for certain clients with non-registered investments and provides existing RBC Corporate Class clients with a lower-risk choice within the class, according to the firm. It is meant to provide portfolio stability through its diversified global asset mix and broad range of income solutions. This fund is available to individual investors through five options: Series A; Advisor Series; Series F (available through financial advisors); Series H; and Series I. Series A and the Advisor series share the same management fee of 2.09%. The fee for Series F is 0.96%. Series H has a management fee of 1.92% and the fee for Series I is 0.79%. Note that Series H and I are available to high net-worth investors with a minimum investment of CAD $200,000. RBC GAM is also launching a fully hedged, U.S. dollar version of BlueBay Global Convertible Bond Fund (Canada). This was originally launched in November 2012 and has grown to more than $1.2 billion in assets under management. BlueBay $U.S. Global Convertible Bond Fund (Canada) is meant for investors who want exposure to a portfolio of global convertible bonds, a combination of current income and capital growth potential and are seeking new U.S. dollar options for their investments, according to the firm. This fund is available to individual investors through five options: Series A; Advisor Series; Series F (available through financial advisors); Series H; and Series I. The management fee for Series A and the Advisor series is 2.15%. Series F has a fee of 1.30%. The fee for Series H is 1.86% and the fee for Series I is 1.02%. Series H and Series I are available to high net-worth investors with a minimum investment of CAD $200,000 Both of the solutions being launched today are also available to institutional investors through Series O. Facebook LinkedIn Twitter BMO to launch six new mutual funds Keywords Fund launchesCompanies RBC Global Asset Management center_img Related news Wealthsimple launches Sharia-compliant ETF Share this article and your comments with peers on social media Fidelity Investments unveils new climate-focused fund suitelast_img read more

Venard Gaudet fined and sentenced to one year of probation

first_img Keywords EnforcementCompanies Ontario Securities Commission Share this article and your comments with peers on social media Mouth mechanic turned market manipulator Related news Gaudet has been ordered to pay an $800 fine and sentenced to one year of probation with conditions after he admitted to trading without registration and issuing securities without a prospectus. The probation conditions include that he cease trading in securities and to refrain from acting as an officer or director of any issuer. In 2014, Gaudet was charged after an investigation by the OSC’s Joint Serious Offences Team (JSOT) found that he sold shares in Intrinsic Minerals Ltd. to four investors in July 2012. The OSC banned Gaudet permanently in 1991 “for his leading role” in a $12-million fraud on Osler, at which he was the chief financial officer. At the time, an OSC panel said that the conduct of Gaudet and two others in the case “was so reprehensible that we have concluded that none of them should ever again be allowed to participate in the capital markets of the province in any way.” Photo copyright: belchonock/123RF Court rules in favour of labour-sponsored venture fund against fund manager PwC alleges deleted emails, unusual transactions in Bridging Finance case Facebook LinkedIn Twitter Venard “Lenny” Gaudet of Toronto, a central figure in the collapse of Bay Street brokerage firm Osler Inc. in 1988, has been fined and put on probation after pleading guilty to two new offences, according to the Ontario Securities Commission (OSC). James Langton BFI investors plead for firm’s salelast_img read more

More Access to Computers in St. Mary

first_imgRelatedMore Access to Computers in St. Mary More Access to Computers in St. Mary UncategorizedMarch 3, 2008 RelatedMore Access to Computers in St. Mary FacebookTwitterWhatsAppEmail A Community Access Programme was officially launched at the Golden Eye Resort in Oracabessa, St. Mary on February 26, making computer service more readily available to the people of the parish.Under the programme, residents of some 30 communities will be able to access affordable computer service.The computers, which have been donated by Microsoft, will be placed at strategic locations in those communities in the custody of community organizations, such as church groups, youth groups and citizens associations.In addition to the general service, there will be a website for the St. Mary Parish Council, which will give information on the various services provided by that entity, in addition to enabling it to establish swift contact with communities and persons when necessary.The Council will be partnering with Digicel Jamaica Limited to provide the service, which will also include a short messaging service, the daily weather report and a catalogue of the telephone numbers of various citizens and organizations in the parish.Giving the main address at the launch, Minister of State in the Office of the Prime Minister with responsibility for Local Government matters, Robert Montague, described the programme as one which has the potential to place St. Mary on the cutting edge of development. He said the operation would also enable the parish to become a leader in the world of business communication.The State Minister pointed out that the programme would not only allow the people of the parish to communicate more effectively with each other and with persons in other areas of the world, but would also help to reduce the rate of illiteracy in the parish, as well as assist persons pursuing studies in various academic disciplines.Expressing gratitude to Microsoft for the generosity it has displayed in donating the computers for the programme, Mr. Montague exhorted members of the communities to make the best use of the service and implored them to ensure that its operation redounds to the social and economic advancement of those communities and enhance the personal development of the residents.Also addressing the function was Joe McKenzie, Country Manager for Microsoft, who assured the audience that phase two of the programme would be introduced shortly, in which Microsoft will be partnering with Cable and Wireless Jamaica to provide internet service for the schools in St. Mary.center_img RelatedMore Access to Computers in St. Mary Advertisementslast_img read more

World Bank and EU to Help Iraq Strengthen Public Financial Management Oversight & Accountability

first_imgWorld Bank and EU to Help Iraq Strengthen Public Financial Management Oversight & Accountability The Government of Iraq Signs Grant Agreement with the World Bank & the European Union on EU-funded ProjectBaghdad, January 24, 2021 – The Government of Iraq, the World Bank Group, and the European Union signed today a grant agreement aimed at strengthening the Government of Iraq’s institutions and mechanisms of fiscal accountability and oversight at federal and sub-national levels.The project titled “Strengthening Public Financial Management (PFM) Oversight and Accountability Institutions” will benefit from jointly implemented US$12.5 million and is part of a technical assistance grant program signed back in September 2018 with the European Union to strengthen public financial management (PFM) oversight and increase the efficiency of public service delivery.The program aims at improving PFM systems by strengthening payroll management through an IT platform. It will support transparency and accountability in the oil sector through the Extractive Industry Transparency Initiative. It will foster the anti-corruption agency which can help retrieve stolen assets and the auditor general as well as support the reform of State-Owned Enterprises. Other features will be strengthening procurement systems through e-procurement and supporting integrity in reconstruction programs. The project will also assist in further tackling revenue mobilization and fiscal federalism and can be revisited in one year to align further with government priorities.This project compliments the ongoing World Bank-financed project titled “Modernization of Public Financial Management Systems” of US$41.5 million, which aims to improve financial information management and transparency, cash management, public investment management and public procurement modernization at selected federal and governorate agencies.“Now, more than ever, the importance of a strong public financial management system is critical”, said Ramzi Afif Neman, Head of World Bank Iraq Office. “The World Bank is committed to helping equip the Government of Iraq with mechanisms of fiscal accountability that are essential for sustainable reform, creation of a positive economic impact, and the restoration of public trust in the country’s financial institutions.”“The efficient management of public finances and the delivery of services is critical in the achievement of public policy objectives, as well as for restoring the trust and social contract between Iraqi citizens and the country’s institutions”, said Martin Huth, European Union Ambassador to Iraq.The project will support economic governance reforms at the federal level and in the Kurdistan region through technical assistance to many fiscal agencies, under the guidance of the Federal Ministry of Finance and the Prime Minister’s office. The project is in line with the economic reform “White Paper” recently published by the Government of Iraq which supports the overall World Bank Group’s development objectives and portfolio in Iraq. The project is also in line with the SDGs and European Union’s development objectives. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:agreement, Ambassador, Baghdad, efficiency, EU, european, European Union, Federal, Government, industry, Investment, Iraq, Minister, Prime Minister, sustainable, World Banklast_img read more