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first_imgNew Delhi, May 30 (PTI) National football team goalkeeper Gurpreet Singh Sandhu has achieved a historic feat as he became the first Indian to feature in a top-tier league match in Europe by turning out for his Norwegian side Stabaek FC. The 24-year-old Indian kept a clean sheet in his first Tippeligaen (Norwegian Premier League) start for Stabaek FC, helping them claim a dominant 5-0 triumph over IK Start in an away league match last night. Sandhu, who signed for Stabaek FC in 2014, has not played in the Tippeligaen till yesterday though he has already featured in five matches in the Norwegian Cup. He has thus far played second fiddle to Ivorian goalkeeper Sayouba Mande who is the first choice Stabaek FC goalkeeper. The Punjab lad took to Twitter to share his excitement after the match. “Proud to become the First Indian ever to start in a Top Division League game in Europe!!!!,” Sandhu tweeted. “Facing @ikstart tonight before the International break kicks in, need to finish on a good note @Stabaek #Tippeligaen,” he wrote. In many parts of Europe, league matches are over by this time of the year but the Norwegian top-tier league is held from March to November due to climatic reasons. Sandhu has been the number one goalkeeper in the Indian team since Stephen Constantine took over last year, with the English coach preferring him to veteran Subrata Paul. Sandhu will directly join the national football team in Laos where India are playing their play-off match of the 2019 Asian Cup Qualifiers on June 2. Bengal footballer Mohammed Salim played for Scottish top-tier side Celtic FC in 1936, but most probably he did not feature in the premier division. Records about Salims two-month sojourn in Scotland are sketchy. After Indias Independence, former captain Bhaichung Bhutia played for English third division side Bury FC in 1999-2000 and current national skipper Sunil Chhetri played for the B team of Sporting Lisbon in 2012. PTI PDS ATK KHSadvertisementlast_img read more

first_imgThe announcement was made at a dinner with the three Australian teams in Mudgee on Tuesday night and the trio will lay a wreath at the Mudgee ANZAC Day ceremony on Wednesday morning. 2012 marks the 10th year that Hilder has represented Australia, having debuted at the 2002 Trans Tasman Series in Coffs Harbour. She has won three World Cup titles and has 37 Australian caps to her name. Roberts has 35 appearances in Australian colours, taking part in three World Cups and winning titles in 2003 and 2011. Rose has been a manager for the Australian Men’s Open, Australian Men’s 30’s and Australian Men’s 35’s teams since 1997, with 74 Australian caps to his name. Touch Football Australia would like to congratulate Kylie, Steve and Gary on being named as the Australian Flag Bearers.  Stay tuned to the website to hear what each of our flag bearers had to say about receiving this honour.last_img read more

first_imgTORONTO – Police say three people believed to be victims of a scam targeting Chinese students have been located.Toronto police say they believe the disappearances were linked to a scam in which Chinese students are told to go into hiding and stay off social media or their relatives in China will be hurt.Police allege the families in China are then contacted and told that the student has been kidnapped, and are then asked to pay a large ransom.Investigators say Juan Wen Zhang, 20, who went missing on Nov. 8 in Toronto was located on Saturday in Montreal.They say Yue (Kandy) Liu, 17, who disappeared on Nov. 10, was found Sunday in Kirkland, Que.And Ke (Jaden) Xu, 16, who was last seen in on Nov. 9, was located on Monday morning in Ontario.Const. Caroline de Kloet said Monday that the investigation into who contacted the students is ongoing.Loved ones notified police that the students were missing, De Kloet said.Police say one of the victims became aware of the scam when she turned her phone on in the Montreal area.last_img read more

first_imgVANCOUVER — A rare encounter with several juvenile bluntnose sixgill sharks in waters off Vancouver implies the population may be larger than previously thought, says a marine biologist.Chris Harvey-Clark of Dalhousie University was part of a team of researchers who used a small submarine to explore the waters about a kilometre off the coast and about 100 metres below the surface.He said they were surprised to see three juvenile sixgills, in part because the population was thought to have been reduced significantly by an experimental fishery that operated in the 1990s.“Over all the years I’ve been doing this, since the 1970s, I’ve only seen maybe two or three juveniles. I think that’s what made the experience off downtown Vancouver so amazing,” he said in an interview.“In thousands of dives I’ve done, I’ve only seen two or three juvenile sixgills. And all of a sudden, bang, in a very short period of time, you see three. To me, that was the dramatic moment that this sub dive led to.”Harvey-Clark, who is also a veterinarian, wrote about the September 2017 discovery in a paper published last month in Sea Technology.He said it’s also unusual to see juvenile sixgills, which are about one to two metres long, because the cannibalistic nature of sharks means that the younger, smaller animals are often forced to hide in deeper waters.“Juveniles of this species are rarely found at that size. It’s a highly cannibalistic species. If a big one finds a little one, they just eat it,” Harvey-Clark said.“These juveniles, almost neonatal sharks, are probably using depth as a way to segregate from other adults of their species who would eat them if they could find them.”The slow-growing, but long-lived species of shark is typically found in waters up to 2,000 metres deep and grows to five or six metres.The researchers put out bait of oily fish but the sharks also appeared to be very attracted to the metal parts of the sub. Because they’re a deep-sea shark, they detect prey based on microvolt amounts of current the bottom fish are putting out, he explained.He said it was also interesting to see that there was a lot of food for sixgills at a depth of only 100 metres.“There was lots of dogfish, lots of ratfish, tons and tons of squid species that we don’t really see much of in shallow water in that part of Vancouver,” he said.“The whole thing was illuminating about the whole life that goes on beneath the surface right off a densely populated city centre. People swimming off the beaches of Vancouver would never imagine the sharks out there.”But he doesn’t think swimmers should be too nervous about the creatures taking a bite out of them.“You don’t want to ever say that about something that gets this big. These sharks get to be a huge size. They eat everything. They have a giant mouth and saw teeth,” he added.“But there have been many, many diver encounters with this species and nobody’s ever really had an aggressive encounter with a sixgill.”He said they’re a slow-moving, relatively sedentary bottom-feeding species, and their favourite food is stuff that’s already dead.“If you want to see a sixgill really get active, some salmon offal on the bottom … That’s really what they’re after.”Laura Kane, The Canadian Presslast_img read more

Rabat – An Algerian businessman has agreed to bear the costs of the fines to the three Muslim women who were forced to pay a fine for wearing a burkini at the beach at Cannes, in southern France.A 29-year-old woman received a fine set at €38, for wearing the burkini at the La Croisette beach, on August 13. A 32-year-old woman also received a fine for the same charge, on August 14 and a third aged 57, on August 15, according to le Parisien.The burkini allows Muslim women to maintain their religious obligations at the beach by only exposing their faces, hands and feet. “Although I am personally opposed to the niqab, I believe that nobody has the right within a democracy to prevent a person from wearing the clothing of their choice, said businessman Rachid Nekkaz.  “Provided that this clothing is not a threat to freedom of others or the security of the territory.”Six other women wearing a burkini on the beach were stopped and asked to leave the beach.   They were not fined because they complied with the new law.Nekkaz  funded a “freedom defense fund” with 1 million Euros in 2010 for the payment of fines for women who wear the niqab.France banned the niqab, a full-face veil worn by more devout Muslim women, in a controversial ruling in 2004. read more

1 February 2008The United Nations High Commissioner for Refugees (UNHCR) today welcomed Nepal’s recent decision to issue exit permits to refugees from Bhutan so they can be resettled in third countries. The United Nations High Commissioner for Refugees (UNHCR) today welcomed Nepal’s recent decision to issue exit permits to refugees from Bhutan so they can be resettled in third countries.The move is “an important step towards finding solutions for over 107,000 refugees who have been in Nepal for 17 years,” agency spokesman William Spindler said.The group resettlement process has been gaining momentum in the camps since it started late last year, UNHCR has submitted the details of nearly 10,000 interested refugees for consideration by the resettlement countries. The first refugees are expected to begin departing next month.The United States has offered to consider for resettlement at least 60,000 refugees from Bhutan, and Canada has indicated it will accept up to 5,000, according to UNHCR. Australia, Denmark, the Netherlands, New Zealand and Norway have also indicated their willingness to accept refugees from Bhutan for resettlement.”While resettlement offers a welcome solution for those who voluntarily choose this option after 17 years in the camps, the UN refugee agency will continue to advocate for the option of voluntary return to Bhutan for those refugees who wish to do so,” Mr. Spindler said. read more

Pan Am torch in Mississauga

With less than a month until the Pan Am Games, excitement is building all across Southern Ontario.Three thousand torchbearers will have the honour of carrying the flame across Canada and it made its way through Mississauga today.The torch will travel through 130 communities during the 41-day relay.The flame arrived in style and was carried by one of the oldest torchbearers in this year’s relay.At 94-years-old, there is not much Mississauga’s former Mayor Hazel McCallion hasn’t done.Residents braved the wet weather to catch a glimpse of McCallion carrying the torch along the Credit River.The torch will now move on to its next destination but the aftermath of the Pan Am games will last much longer.Tickets to the Pan Am games are still available. Tickets start as low as $20. read more

LAS VEGAS, Nev. – Floyd Mayweather Jr. and Manny Pacquiao proved a box office smash, even if their welterweight title fight didn’t live up to the hype.The May 2 fight obliterated the pay-per-view record, with 4.4 million buys generating more than $400 million in revenue. With a live gate of nearly $72 million and other revenue, the bout grossed more than $600 million and likely made Mayweather more than $200 million.Showtime and HBO officials reported the whopping PPV figures Tuesday, saying the fight broke the previous record of 2.48 million buys generated by Mayweather’s 2007 fight with Oscar De La Hoya by nearly 2 million buys.It also nearly tripled the record $150 million in pay-per-view revenue generated by Mayweather vs. Canelo Alvarez in 2013.“We did not anticipate this number of buys,” said Mark Taffet, who heads PPV operations for HBO. “It reinforces the notion that when you give the fans the fights they demand, they always respond.”Mayweather was the big winner both in the fight and at the bank. He was guaranteed 60 per cent of the net revenue to the promotion, while Pacquiao’s camp got the remaining 40 per cent.The total figures to be around $400 million after satellite TV and cable systems take their cut, meaning Mayweather — who is his own promoter — could walk away with $240 million for his night’s work. Pacquiao would share in the other $160 million with promoter Bob Arum.The Nevada Athletic Commission says the live gate for the fight was a record $72,198,500, far eclipsing the previous mark of $20 million set by Mayweather and Alvarez. The fight also did another $50 million or so in foreign sales, sponsorships and related income.It also sold 46,000 closed circuit seats at various MGM Grand operated hotels in the Las Vegas area at $150 a ticket, and was sold to more than 5,000 bars, restaurants and other businesses throughout the United States.However, the fight had some technical problems for last-minute buyers and was seen for free by thousands on services like Twitter’s Periscope and Meerkat, which stream video to the Internet.“To do almost twice what the prior record was and nearly triple the previous high water mark for revenue is really something,” Stephen Espinoza, executive VP and GM of Showtime Sports said. “I thought we would be doing very well if we got to 3 million buys, which would have broken the record by 20 per cent.”Mayweather won the fight by unanimous decision, and it was later revealed that Pacquiao had injured his shoulder in training. That has led to a number of lawsuits filed on behalf of people who bought the PPV, claiming they were defrauded out of their money because the injury was not revealed.Taffet said the strong interest in boxing continued with Saturday’s fight between Canelo Alvarez and James Kirkland in Houston. The fight, which drew more than 30,000 people to Minute Maid Park, was watched by an average 2.1 million viewers on HBO, the highest rating for a fight on the network in nine years.“We’re in a period of tremendous viewership for the sport,” he said. by Tim Dahlberg, The Associated Press Posted May 12, 2015 1:06 pm MDT Last Updated May 12, 2015 at 3:51 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email FILE – In this May 2, 2015 file photo, Manny Pacquiao, left, from the Philippines, trades blows with Floyd Mayweather Jr., during their welterweight title fight in Las Vegas. Pacquiao lost his biggest fight in the ring, but that won’t stop him from plotting a bigger comeback – in the political arena that is. Some fans still want a rematch because they felt cheated by the lackluster Pacquiao-Mayweather bout billed by promoters as the “Battle for Greatness,” though boxing analyst Ed Tolentino calls it the “Fiasco of the Century.” (AP Photo/John Locher, File) Mayweather-Pacquiao fight sets PPV mark with 4.4 million buys, $400 million revenue read more

In a statement issued by his spokesperson, Mr. Guterres said he is “closely following” developments in the West African nation as it prepares to go to polls.“[The Secretary-General] urges all parties to ensure the holding of elections that are peaceful and credible and allow for the participation of all interested stakeholders,” read the statement.“He calls on all parties to ensure respect of the rule of law and that the human rights of all Mauritanians are upheld.”According to reports, some 98 political parties are participating in the elections this year, a marked increase over the last time polls were held. read more

Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedWanted man ‘Popcorn’ shot dead in BerbiceApril 7, 2014In “Crime”Suspect in shooting, robbery of dog food vendor remandedOctober 4, 2018In “Court”Update: Mother of four shot dead, sister injuredMarch 8, 2014In “Crime” (Trinidad Express) Watermelon vendor Brandon Samaroo was shot and killed at his vending stall in Gasparillo at around noon yesterday.DEAD: Brandon SamarooSamaroo, of Tarouba Road, San Fernando was in a shed outside the Country Tavern Bar when a gunman ran up to him. Samaroo was shot in the head and died at the scene.The killer left in a waiting vehicle.The killing happened near Norman Junction and less than two minutes away from the Gasparillo Police Station which is being criticised for its slow response to a jewelry store robbery at the Gaparillo Mall on Monday.At least three criminals spent more than four minutes smashing the show cases and escaped with bags of gold. read more

first_imgAt a recent meeting, the Executive Working group of the International Council on Mining and Metals (ICMM) endorsed a proposal from CRIRSCO to become a Task Force of the ICMM for a trial period of two years. This decision is expected to be ratified by the ICMM Council in May. CRIRSCO (Committee for Mineral Reserves International Reporting Standards) aims to contribute to earning and maintaining the trust and confidence of investors and other stakeholders for its financial and operational wellbeing, by promoting high standards of reporting of mineral deposit estimates (Mineral Resources and Mineral Reserves) and of exploration progress (Exploration Results). Niall Weatherstone, CRIRSCO’s Chairman says the association with ICMM will bring CRIRSCO financial and organizational support; things it has lacked in recent years. ICMM members will part fund CRIRSCO’s annual budget and can provide administrative, secretarial and treasury support. “Above all, the ICMM offers an unparalleled influence on mining industry matters as its Council comprises 15 of the world’s major mining and metal producing companies represented at CEO level. In addition the list of 24 Association Members, including organisations such as the Mining Association of Canada and the World Gold Council, adds extra weight to issues addressed by the ICMM. “CRIRSCO brings support for ICMM in terms of promoting uniform and transparent reporting and best practice resource and reserve estimation. In the longer term, there are opportunities for CRIRSCO to influence the ICMM by incorporating many of its ideals into the sustainable development framework that the ICMM promotes and to bring closer focus on the third, economic, strand of sustainable development.” As part of International Mining’s (www.im-mining.com) focus on consultants in the December issue this year, the work of CRIRSCO will be considered, along with an examination of what all these studies mean (scoping, prefeasibility, feasibility, etc.) and how their validity is controlled. Editorial contributions are welcomed.last_img read more

Bojana PopovićBudućnost PodgoricaEHF Trophy ← Previous Story Kristian Kjelling plays Play Off in Qatar! Next Story → The result of the draw for the V Beach Handball WC in Oman! In Podgorica, Bojana Popovic wins sixth EHF Champions League (Slagelse, Viborg HK and Buducnost). One of the best handball players ever already decided that this will be her last proffesional season. She still have a big challenge with Montenegrian National Team, who has to qualify for the Olympic Games in London. Despite wish of all the fans that Bojana prolongs contract with Buducnost and don’t leave handball, she knows that it is time for the end:– It was enough talks about end of my career. It is really a time to say godbye in the best possible moment. In the last 10 years, I won 7-8 big trophies and it’s time for withdrawal. It is a time for teams, which are spending a lot of money year by year, to win something. It is not fair to invests such a huge amounts, but nothing to win. I think that happiness followed me through career. Knowledge? Probably not in that measure, but trophies always went with me. Tnahks to happiness. I hope that she will stay in Podgorica – says Bojana Popovic to Balkan-Handball.com read more

first_imgAnyone curious as to why Greeks were fascinated to built temples or want to know the secrets of Corinth? Two seminars for students and scholars on the classical world are being offered by the Department of Archaeology on 7 and 21 August. The first entitled “Why did Early Greeks Build Temples?” will look at the ways in which temples changed their purpose over the years. The seminar will draw on extensive new discoveries and studies over the past decade to explore how and why the notion of a temple widely emerged. It will feature examples predominantly from the Corinthian Gulf. The second entitled “Pindar and Corinth” will look at why the famous and wealthy city of Corinth doesn’t have much to show for itself in terms of archeological findings. The seminar will study Pindar’s ode to a Corinthian victor (Olympian 13) as a way to uncover the city’s daily life, the role of elite families and the attitudes towards public displays of wealth. For those interested, the seminars will be in the CCANESA Lecture Theatre, Madsen Building, Eastern Avenue, University of Sydney. The first lecture is on Tuesday 7 August at 3.00pm and the second will be Tuesday 21 August at 3.00pm. Drinks are provided and the seminars are free and no bookings are required. Facebook Twitter: @NeosKosmos Instagramlast_img read more

first_img Posted: April 15, 2018 Elizabeth Alvarez Antique Center closing in Ocean Beach to make way for Target Express store 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek  . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsOCEAN BEACH (KUSI) — The Newport Avenue Antique enter in Ocean Beach is closing Sunday.In it’s place will be a Target Express store, which residents have been fighting against coming to the small beach community.Ocean Beach residents who are opposed to the corporate chain coming to their town will have to take a new approach, boycotting the store.KUSI’s Elizabeth Alvarez was live in Ocean Beach with the story. April 15, 2018 Categories: Good Morning San Diego, Local San Diego News FacebookTwitter Elizabeth Alvarez, last_img read more

first_imgHyderabad: Telangana High Court on Wednesday cleared the appointment of 1857 FBOs (Forest Beat Officers). Earlier there was a stay on it. PccF & Forest Department has thanked Chief Minister K. Chandrashekhar Rao for permitting filling up of 67 posts of FRO (Forest Range Officers), 90 posts of FSO (Forest Section Officers) and 1857 posts of FBO (Forest Beat Officers) This is highest ever recruitment in the forest department. With these recruitment after several decades (in combined state also), the Forest Department will be gaining 100 per cent staff strength.last_img read more

first_imgSix Bangladeshi children, including three girls, returned home through Benapole check post in Jessore on Monday night after serving one year jail term in an Indian prison, reports UNB.The returnees are Sakib, 10, son of Jewel, Akash Sheikh, 7, son of Amirul Sheikh, Romeem Sheikh, 10, son of Ali Sheikh, Tina Mondol, 12, daughter of Alauddin, Jesmin Akter, 12, daughter of Billal Hossain, Roksana, 13, daughter of Morsed Ali, hailing from Chittagong and Narail districts.Indian police handed them over to Benapole immigration police.Omar Sharif, officer-in-charge of Benapole check post police, said that the returnees entered the Indian territory one and half years back without valid documents through Jessore border points in search of good job.Later, Indian police arrested them from Kolkata and a case was filed against them.Later, an Indian court sentenced them to one year imprisonment and sent them to Kolkata Central Jail.Apurbo Hasan, officer-in-charge of Benapole Port police station, said they handed them over to human right organisation – Rights Jessore – to return them to their respective families.last_img read more

first_imgPahela Baishakh (Bangla New Year-1422) was celebrated in with traditional festivities and gaiety at the Bangladesh High Commission on April  14. Eminent Dhaka-based Lalon exponent Farida Parveen enthralled the audience with her performance. Dignitaries of the Indian government, Ambassadors and Diplomats from various countries, cultural activists, Bangladeshi expatiates and students enjoyed the programmes at the Moitree Hall of the High Commission in the evening. Also Read – ‘Playing Jojo was emotionally exhausting’Magsaysay award winner Farida Parveen rendered her famous traditional bengali religious music, ‘Baul songs’, before the applause of the packed audience. Eai Padma, Eai Meghna, Eai Jumuna; Se Akhon Ghumta Pora Kajol Bodhu, O-He Doyaban, Barir Kache Aarshee Nagar among others were sung by her. Besides, Gazi Abdul Hakim rendered Bangla folks flute music. ASM Reza (dholak), Debendranath Chatterjee (tabla player, music director and rhythm composer) and Delwar Hossain (dotara) accompanied him on the stage. The celebration was rounded-off with a traditional Boisakhi.last_img read more

first_imgBandizip 6.0 is out with new interface by Martin Brinkmann on March 27, 2017 in Software – 27 commentsBandizip 6.0, a new version of the archive software for Windows, has been released featuring a new user interface, and other changes.I switched to Bandizip in 2014 as it supported features that 7-Zip, the program that I used up to that point, failed to introduce much needed features quickly enough.The company responsible for Bandizip released beta versions of the program in 2016, and you may want to check out the first look article that I wrote back then as things have not changed all that much since then.Bandizip 6.0Bandizip 6.0 is offered as a portable version for 32-bit and 64-bit versions of Windows, and as an installer. The latest version is not compatible with Windows XP. Only option that you have is to keep on using Bandizip 5.x on devices running the operating system.Installation is straightforward. Please note that the option to send usage statistics and crash reports is enabled when you install the program. You can disable it during setup on the same page that you can change the installation path on.The installer changed, and it appears that it requires an Internet connection during installation. You can still download and run the portable version instead which does not have the requirement.The program opens with a new start screen if you start it without loading archives at the same time. You can disable this new screen with a click on View > Start Screen.The program interface has changed, but not dramatically. You get a new color scheme and icons, but the general layout and look and feel remained the same.Note that you may change the color scheme used by the program under Settings > Color.The menu icons in the toolbar offer the same features, and the archive listing uses the traditional two-pane interface. You may also change the toolbar’s look and feel to the classic design by selecting View > Toolbar Old from the menu bar at the top. The result looks like this when you do:Another option that you have is to reduce the size of the toolbar menu to small. This is only possible for the new design though. You find the option under View > Toolbars > Small.The left side of the interface lists the folders, if available, and the right the actual file content. You may run operations using the toolbar menu, the right-click context menu, or keyboard shortcuts.As far as new features are concerned, there are a handful. Bandizip 6.0 supports the new archive formats ZPAC and LZIP, and you may notice that extraction and compression tasks perform faster in the new version. The beta version history listed support for MS Compound and ARC formats as well. Another new feature that is not mentioned in the final release history is support for creating GX/XZ archives.A quick test with fairly large archives revealed that this is indeed the case, at least when it comes to extracting archives on the system.The release history page lists a new console program, and a new command line command as well, but fails to go into details. The new console program is bc.exe which you find in the program folder. You may use it to run commands directly without opening the program UI. The application replaces the 7z.exe program that Bandizip used in previous versions.Changes not mentioned on the release history page include a new listing of recently opened files under File > Recent Files, and an option to change the file listing from the details view to icons or list view instead.These replicate the two Windows Explorer view styles. The icon view mode displays files as icons with the name listed underneath the icon, the list view file names and icons as a list instead. Both modes don’t display other information such as the file size.Closing WordsBandizip 6.0 ships with additional features, and better performance when it comes to extracting archives and creating new archives. Some users may not like the new interface, but you can adjust it somewhat using the View menu, for instance by enabling the classic look of the toolbar there.Now You: What’s your take on the new Bandizip 6.0?Summary12345 Author Rating3.5 based on 13 votes Software Name Bandizip 6.0Operating System WindowsSoftware Category ProductivityLanding Page https://www.bandisoft.com/bandizip/ Advertisementlast_img read more

first_imgManeuvering to undermine the emboldened opposition, outgoing congress president Diosdado Cabello has pledged to designate 12 new supreme court justices before the new lawmakers are sworn in.Recommended: Chávez’s other disciple, Diosdado Cabello, rises as Venezuela unravels under MaduroTorrealba and Guevara said it will take four to six months to implement broad economic measures. Among their priorities are relieving shortages of goods, reducing crime and decentralizing municipalities.‘Acting very badly’In a way, the opposition’s dilemma is its dizzying array of options. It can use its supermajority to change the constitution, impeach ministers, push for a referendum on removing the president and make the country ungovernable. If Maduro’s government cooperates, it could work with congress to make economic changes that could bring down inflation, narrow the budget deficit and restore growth.“What you have to keep an eye on in the coming weeks is how the government acts, to see if they send any signals of dialogue or not,” Colette Capriles, a political science professor at Simón Bolívar University in Caracas, said. “So far, they’ve been acting very badly.”Many of the economic changes required to tackle the world’s fastest inflation and mounting shortages of everything from rice to medicines require the executive branch to act first, according to Bank of America economist Francisco Rodríguez.“I can’t see how Maduro can run a functioning government with these rules if he continues adopting a confrontational stance,” he said. “The only stable solution here is to have a coalition government.”The opposition congress will also work on an anti-corruption law and already has teams of lawyers in Andorra, Switzerland, the United States and China tracking down accounts with illicit funds, Ángel Alvarado, a deputy-elect affiliated with the Primera Justicia opposition party, said in an interview. It will also seek to cut back on subsidized oil shipments to Cuba and other Caribbean countries and will review existing agreements with China, he said.The stakes are high, not only for the political movements but for the country. The economy is forecast to shrink 10 percent this year, and inflation is spiraling above 100 percent. The price of oil, which accounts for 95 percent of exports, hit new lows last week, depriving the government of more funds and threatening to exacerbate food shortages.“If the government does not assume the responsibility for the economic issues, we’re going to pass from an economic crisis to a humanitarian one,” said Julio Borges, an opposition congressman widely seen as the next speaker of the assembly.Opposition leader Guevara said that while he represents the more radical wing of the opposition groups, everyone seems impatient.“The victory was so large, I think even some of the more conservative ones could change their minds,” he said. “There’s an agreement. We’re going to see if the government works with us and comes to an understanding. We’re going to set a period and give them a chance. If they don’t work with us, we’ll remove them.”Andrew Rosati contributed.© 2015, Bloomberg News Facebook Comments Related posts:Chávez’s other disciple, Diosdado Cabello, rises as Venezuela unravels under Maduro Showdown looms for Venezuela, as protest leader Leopoldo López vows new march Opposition coalition wins control of Venezuela’s National Assembly: What that means Venezuela’s dynastic diplomacy puts a Chávez at the UN CARACAS, Venezuela — After 16 years of rubber-stamp impotence, the Venezuelan opposition plans to use its overwhelming electoral victory to free political prisoners — including its most charismatic leader — and offerPresident Nicolás Maduro six months to take painful economic steps or face removal.Moving to take advantage of the two-thirds supermajority they won in congressional elections this month, opposition leaders say a top goal when they take office in January is removing fear from millions who depend on the socialist government for work or housing. In a first step, lawmakers say they want to give state-housing residents deeds to their apartments so that they won’t face political expulsion.“We’re going to legislate so that state policies stop being a mechanism of extortion and blackmail,” Jesús “Chúo” Torrealba, leader of the opposition alliance, said in an interview. “We don’t want beneficiaries of social missions to be able to be blackmailed by any government.”In a separate interview, Freddy Guevara, head of one of the key opposition parties, said the first step will be the release of political prisoners, including Leopoldo López, the Harvard- educated former mayor of the Chacao district of Caracas.López was sentenced in September to almost 14 years in a military jail for inciting violence during a wave of anti-government protests that left 43 people dead and hundreds injured last year. López says he was falsely accused, and his case has become a cause celebre for human-rights groups demanding his release. If he emerges from prison, he is widely seen as a presidential contender.Despite all the opposition plans, this is uncharted territory. Since Maduro’s predecessor, Hugo Chávez, was elected in 1998, and their socialist party has held the presidency, there has been no opposition to speak of. So although the constitution gives a supermajority in congress enormous power, wielding that power may be difficult, especially since Maduro controls ministries and security services.So far, Maduro hasn’t sounded very cooperative. He has told voters on television, “chúpate tu cambio” (go suck your change), threatened to hold back housing assistance and said he would never surrender the revolution Chávez began. Some fear he is seeking confrontation; others suspect stagecraft.“We’re still not sure if Maduro is putting on a show or if he’s really going to take this attitude going forward,” said Guevara.last_img read more

first_img in Daily Dose, Featured, Government, Origination, Servicing Calls for Reform of Nonbank SIFI Supervision March 14, 2019 952 Views Compliance Compliance Costs Financial Stability Oversight Council FSOC nonbank lenders Nonbank Orignators Nonbanks SIFI 2019-03-14 Krista Franks Brockcenter_img The Senate Committee on Banking, Housing, and Urban Affairs met Thursday to discuss the Financial Stability Oversight Council’s (FSOC) criteria for designating nonbank institutions as systemically important financial institutions (SIFI). FSOC has the power to designate a nonbank as a SIFI, which comes with lengthy compliance responsibilities and costs to the designated institutions. Nonbank oversight is an important issue for the mortgage industry, which has experienced significant growth in these entities in the past several years. Nonbanks currently take up a large share of both mortgage originations and servicing. Originally, FSOC, which was created by the Dodd-Frank Act in response to the financial crisis, gave four nonbank firms the SIFI designation: AIG, Metlife, Prudential, and GE Capital. As of today, no nonbank holds the SIFI designation. Central to Thursday’s discussion was whether FSOC should shift from an entity-based designation to activities-based designation. “The nonbank designation process is arbitrary, inconsistent, and opaque,” stated Douglas Holtz-Eakin, President of the American Action Forum. He argued that the size of an institution “does not necessarily correlate to risk” and in fact, “larger organizations tend to be better diversified and more capable of absorbing systemic shock.” He also asserted that the costs of SIFI designations are significant. In terms of dollar amounts, he referred to AIG’s estimate that its de-designation as a SIFI would save the firm $150 million a year. Compliance costs for SIFI firms include compliance personnel and resources to address reporting requirements and stress tests. Those costs are ultimately born by consumers or shareholders, Holtz-Eakin said. Additionally, the capital requirements for SIFIs can restrict the “scope of business practices” and inhibit “natural vitality” in the organizations, he said. Paul Schott Stevens, President and CEO of Investment Company Institute, largely agreed with Holtz-Eakin, reiterating in his testimony a call for an activities-based designation rather than an entity-based designation from FSOC. He said that the SIFI designation is “intended to be a regulatory ‘tool of last resort.’” Policymakers are “moving in the right direction,” according to Stevens, but he also called for greater engagement from FSOC with companies prior to their designation as a SIFI, “more rigorous analysis” prior to designation, and “greater transparency to the financial markets and market participants.” The last witness at the hearing, Jeremy C. Kress, Assistant Professor of Business Law at the University of Michigan’s Ross School of Business, opposed a shift to activities-based designations, calling nonbank SIFI designations “crucial for preventing catastrophic nonbank failures.” “Proposals to replace nonbank SIFI designations with an activities-based approach are deeply misguided,” he said. “Activities-based regulation, on its own, will not prevent systemic collapses like those we experienced in 2008.” Stevens, however, countered that activities-based oversight has functioned for years in the mutual fund sector. “The idea that our regulation does not know how to deal with activities and practices and make them safe and sound and stable for the future is something that is simply unrecognizable from the point of view of our industry,” he said. Sharelast_img read more