SA firm scores with Virgin Atlantic deal

first_imgTDF will also be participating in the International Sales Person of the Year Awards (ISPY) later this year, with a view to winning more accolades that prove the company’s strong relationship with its concessionaires’ crew. It also holds the rights to the American Express Foreign Exchange franchise in South Africa. Concessions other than Virgin Atlantic currently under TDF management include TAAG Angola Airlines, South African Airways, Kenya Airways, South African Express, Interair and Air Mauritius. South African company Tourvest Duty Free (TDF) has had its contract to manage the in-flight duty-free sales of Virgin Atlantic Airways renewed until 2014, the second renewal since the company first won the contract in 2004. “TDF’s success in managing in-flight duty free concessions is underwritten by a philosophy based on partnership, technology, integration, innovation and world-class practices,” said Grimsley. Focus on tourism “We are looking to provide Virgin Atlantic customers with an enhanced product, offering even more choices such as a range of in-flight snacks to complement those already on offer.” 13 August 2010 TDF has won the prestigious Frontier Award for the Best In-flight Retailer of the Year five times since the company’s inception in 1999, with its latest success in the most recent adjudication last year. Award-winning services SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material The contract covers Virgin Atlantic’s entire route network consisting of long-haul flights from the United Kingdom to North America, the Caribbean, Africa, the Middle East, Far East and Australia. “This focus on service standards and world-class processes ensure that the commercial benefits to our partners continue to be significant.” “We are extremely pleased to continue our partnership with one of the best global brands in the world. We’ve achieved many milestones together and having our commitment recognised is naturally rewarding,” TDF chief executive Selwyn Grimsley said in a statement this week. TDF forms part of the travel retail division of the Johannesburg-based Tourism Investment Corporation (Tourvest), which is involved in a wide range of tourism related activities, from designing and marketing international holiday packages, to providing in-house travel management to companies; and running stores and restaurants targeted at travellers.last_img read more

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COP17 starts in Durban

first_imgPresident Jacob Zuma, Minister of Inter-national Relations and Cooperation MaiteNkoana-Mashabane, Minister of Water andEnvironmental Affairs Edna Molewa, andDeputy President Kgalema Motlanthe wavetheir caps in support of COP17.(Image: GCIS) Deputy President Kgalema Motlanthecompleted a three-kilometre walkalong Durban’s beachfront to raiseawareness about rising sea levels.(Image: GCIS)MEDIA CONTACTS • Sifiso JacklasAccount Manager, COP17The Communications Firm+27 82 302 9990Wilma den HartighThe much-anticipated COP17 climate change conference, considered one of the world’s most important events, got underway in Durban in KwaZulu-Natal province this morning.The 17th Conference of the Parties (COP17) to the UN Framework Convention on Climate Change (UNFCCC) starts today and ends on 9 December.The conference has brought together experts from around the world to discuss solutions to the increasing threat of global climate change.About 20 000 people are expected to gather in Durban to take part in the climate talks, among them heads of state, government representatives, international organisations, entrepreneurs, businessmen, academics, activists and NGOs.Conference outcomesThe main goal of the discussions is to advance the implementation of the UNFCCC and the Kyoto Protocol, as well as the Bali Action Plan, agreed on at COP13 in 2007, and the Cancun Agreements, reached at COP16 last year.“We have come a long way since Copenhagen and Cancun. Durban must take us many steps forward towards a solution that saves tomorrow today,” said President Jacob Zuma, welcoming the delegates to COP17.Many expect that the Kyoto Protocol is likely to dominate the talks, as 2012 marks the end of the first commitment period for the treaty that was signed in 1997.The Kyoto Protocol currently places legal obligations on nations, with the exception of the US, China, India and Brazil who are not signatories to the treaty, to reduce greenhouse emissions by 5.2%.Christiana Figueres, executive secretary of the UNFCCC, is confident that governments have come to Durban understanding the importance of the Kyoto Protocol.“I therefore strongly believe that there will be an effort to move into a second commitment period,” Figueres said, speaking at a media gathering in Durban ahead of COP17’s opening day.Minister of Environmental Affairs Edna Molewa said that the need to renew and revise the Kyoto Protocol has become urgent.Deputy President Kgalema Motlanthe, who completed a three-kilometre walk along Durban’s beachfront over the weekend to raise awareness about rising sea levels, said South Africa was hoping to get a legally binding agreement during the COP17 negotiations.In a statement, Motlanthe said that solutions to climate change require global input.“The Kyoto Protocol can come to an end and that’s a good reason why there should be another endorsement. No single nation can tackle climate change, we need a coordinated effort,” he said.Southafrica.info reports that President Jacob Zuma said it was crucial for COP17 to ensure that the Cancun Agreements, which included the establishment of a Green Climate Fund, became operational.Important for AfricaMolewa said although Africa has contributed least to the build up of greenhouse gases globally, the adverse effects of climate change would be felt most severely on the continent.According to Molewa, the average African generates about 13 times less greenhouse gases than his counterpart in North America. In 2007, the continent accounted for less than 4% of the world’s total greenhouse gas emissions.However, without mitigation and adaptation measures these figures could increase.She said that Africa needs more sustainable development with new, clean technologies to avoid the environmental mistakes of the developed world.“Considering that 550-million people in Africa do not have access to electricity, there is enormous scope for Africa to become a world leader in renewable energy sources,” she said.Such developments can reduce the vulnerability of African societies, and even ensure that Africa becomes climate resilient.Global cooperation and accountabilityMolewa said that a response to climate change requires global cooperation and accountability.“The South African government recognises its role as the major contributor to greenhouse gas emissions on the continent. We are responsible for 38% of Africa’s total emissions,” she said.South Africa intends to change this.The National Climate Change Response White Paper outlines government’s commitment to reduce carbon dioxide emissions by 34% below a business as usual trajectory in 2020, and by 40% in 2025 before stabilising emissions in absolute terms, and ultimately reducing them.The African Union has partnered with South Africa to ensure that the African Pavilion at COP17 effectively presents the issues of climate change that Africa is grappling with.“The impacts of climate change know no border, and it has been a driving force for cooperation between African governments,” said Molewa.More climate change awarenessThe UN’s Figueres told reporters that there is growing momentum amongst rich and developing nations to take action against global warming.Developed countries have passed more legislation and governments are businesses are also raising awareness about climate change.In a BuaNews report, Figueres said it is encouraging to see governments and civil society taking action.“Durban should mark the next milestone in the climate talks. We expect that many of the issues that leaders agreed on in Mexico will find a way of being implemented here,” she said, “and these include the Green Climate Fund and other matters.”last_img read more

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An ISP Offers A Cloud for India – More Like AOL, Less Like the Open Web

first_imgRelated Posts We are winding down the long holiday weekend here in the United States but on the other side of the world, the news cycle is in full gear.And so the story about a new cloud service in India caught our attention as it demonstrates how the cloud is reaching millions of people who have no access to a computer nor a credit card. It also is illustrative of how the cloud will be more for a global community of mobile users who access a service that is more like AOL than the open Web.Sify Technologies is a a large Indian Internet service provider. It’s so large that it is planning to lay undersea cable between Delhi and Singapore for better connected networks between India and the economically powerful city state.The company is a powerhouse on par with our very largest telecommunications companis in the United States. But its customers do not live in suburban tract houses with desktops and laptops for Mom, stepdad and the kids. The Sifi customer has a mobile phone.They go to cyber cafes to connect to the Internet. They live in rural communities.And so that is why Sifi is launching “Sify mylife,” a suite of cloud-based applications for the millions of people in India who do not own computers nor have Internet access. It’s an interesting play as the service leverages the cloud but in many ways is more akin to the American Online we knew in the mid-1990s. It seems fitting that millions of people would be drawn to a service that give them access to the Internet. Just like AOL did, millions of people can get access to the Sify service. But now the availability is of a different flavor with SaaS type services such as spreadsheet applications and word processing.Sify will offer the service through its network of 1,200 cyber cafes. The cafes are operated as a franchise. They use the company’s broadband connections for Internet access. Sify will also offer a hardware device to other cyber cafes in India that will be equipped with the software. That gives the service additional significance. Again, as we have seen before, hardware is becoming so affordable that to create a branded device makes sense as a way to create a controlled experience in the cloud. We’re in the first generation of cloud-based devices that will serve as ways to conduct commerce all within the network of one provider, not the open Web.According to Computerworld, the cloud service will offer applications that allows people to purchase travel tickets, entertainment and educational services. People may use Sify to pay bills online without using credit cards.. How? Customers will pay cash to the people running the cyber cafe, making it a viable service for the millions of people in India who do not have credit cards or do not feel comfortable with paying online a credit The service is targeted at the large number of people who do not have credit cards or aren’t comfortable making credit card payments online.Computerworld:“About 52 million urban Indians were active internet users in September last year, according to a report released jointly by the internet and Mobile Association of India (IAMAI), and research firm IMRB International. Active users are defined as those who used the Internet at least once a month. About 37 percent of these users accessed the Internet through cyber cafés, according to the report. The percentage of people who use cyber cafés is expected to be higher in rural areas.” Sify will also team with software developers to launch storage services and applications on the platform.The Sify mylife service is a contrast to how the cloud is being marketed in the United States. Consumer services like Sify became obsolete with the advent of the open Web. But in India, the Internet is not as widely accessed as it is here in the United States. But people still do want to use online services. Sify may very well fill that gap. alex williams A Web Developer’s New Best Friend is the AI Wai… Top Reasons to Go With Managed WordPress Hosting Why Tech Companies Need Simpler Terms of Servic… 8 Best WordPress Hosting Solutions on the Market Tags:#cloud#cloud computing#news#saas last_img read more

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ACCA vs. BPI: The Brouhaha Over Energy Audit Standards

first_imgA conversation with Glenn Hourahan of ACCAI spoke with two people involved with the letter: Glenn Hourahan, PE, of ACCA and David Karmol of the International Code Council (ICC).Mr. Hourahan told me that they’d spent hundreds of hours of staff time reviewing and commenting on BPI 1100 and he felt like they got no traction in the process. He also said that, “We need one standard, not two.” Rather than allowing BPI to develop that standard on their own, however, he said, “The only reason we came out with 12 is that it became obvious that there was a bad standard being dropped on the street.”About the letter, he said, “It doesn’t really matter who wins in the end. We had to send a message to ANSI.” According to Hourahan, there were probably ten more organizations that wanted to sign but couldn’t.As we talked further, another interesting point came out. “DOE [The U.S. Department of Energy] is the 800-pound gorilla. They’re waiting for 1100 to get ANSI certified so they can put their seal of approval on it,” Mr. Hourahan said. He then told me that he thought the DOE would like BPI’s standard better because it’s easier. (See below for more on the DOE connection.) Is this all about the DOE’s Home Performance with ENERGY STAR program?Mr. Hourahan brought up the DOE when I spoke with him, calling them the 800-pound gorilla, and he was most likely referring to the Home Performance with ENERGY STAR (HPwES) program. This program has been around for nearly a decade and is undergoing an extensive rewrite of the guidelines. I know a lot of people, both inside and outside the DOE, involved with working on the new guidelines, so I spoke with one of them recently. He wanted to remain anonymous, though, because he works with both sides in this debate.One of the first things he said is that it’s not true that DOE will give a “seal of approval” to BPI only. Yes, he thinks the DOE would like to see BPI’s standard get approved, but they also want ACCA involved. He also said the DOE would like to have only one standard to work with, but “It’s not likely to occur, so they’re trying to find a way to make the standards complementary and not be conflicting.” Also important is that they would like both standards to reflect the HPwES guidelines.My HPwES source also said that the plaintiffs would probably have a difficult time proving their claims. The actual problems were probably just BPI oversight, he said, echoing what I heard from BPI. Although he values ACCA and their work, “The idea of revoking ANSI SDO status is crazy. It seems like an inappropriate way to go about things.” David Karmol of ICCWhen I spoke with ICC’s David Karmol yesterday, he sounded extremely frustrated. “We have trouble filing comments with BPI,” he said. “They changed their process midstream.” One aspect he mentioned in particular was that he couldn’t leave a comment on the standard as a whole. If he wanted to do that, he had to enter that comment into every comment box throughout the whole document.Another complaint he raised was that BPI 1100 would have requirements that are in direct conflict with building codes. Although he couldn’t think of any specific examples, he said they were mainly related to safety. Who are the thirteen signatories?The thirteen organizations that signed the letter include five standards development organizations and eight “materially affected organizations.”The five Standards Development Organizations (SDOs):Air Conditioning Contractors of America (ACCA)Air Movement and Control Association InternationalAmerican Gas AssociationInternational Code Council (ICC)Air Conditioning, Heating, and Refrigeration Institute (AHRI)The eight materially affected organizations:American Public Gas AssociationNational Propane Gas AssociationHeating, Air-conditioning and Refrigeration Distributors InternationalNorth American Technician Excellence (NATE)Institute of Heating and Air Conditioning IndustriesPlumbing-Heating-Cooling Contractors AssociationNational Air Filtration AssociationRefrigeration Service Engineers SocietyAs mentioned above, RESNET is not a signatory on the letter, but they’re involved peripherally in that they helped ACCA develop their Standard 12, and the RESNET logo is on the cover of that standard.Also, the letter indicates no organization as the primary one. They’re divided only by those that are SDOs and those that aren’t. However, the e-mail sent to ANSI came from Glenn Hourahan at ACCA, and it looks to me like ACCA is the main instigator.Mr. Hourahan of ACCA, however, says that’s not so. He wrote in an e-mail to me, “It was the letter of 13 organizations where ACCA was a signer to the letter. Additionally, ACCA was not the one who suggested the letter … but, rather ACCA was approached by others to join the effort.” If that’s the case, who is the instigator? Their beef with BPIThe day after the RESNET conference ended, I received a copy of the letter in my e-mail from an anonymous source unaffiliated with any of the organizations involved. The thirteen organizations above signed this letter to “respectfully request the withdrawal of BPI’s Accreditation as an SDO.”The points given in the letter are:BPI’s On-line Tool Hinders the Due Diligence ProcessBPI Does Not Identify its Consensus BodyBPI’s Development and Oversight Committees Lack BalanceBPI’s non-Adherence to ANSI Procedures Precludes Due ProcessBPI Review Instructions Impedes Due ProcessBPI Concurrent Reviews Caused Widespread Confusion and Hindered Due ProcessBPI Guidance Limits Due ProcessBPI Appeals Procedures Obstructs Due Process“Due process requirements for American National Standards have been subverted by BPI at every point in its standards development process,” they wrote. A little backgroundRESNET and BPI offer certifications for people who want to be home energy auditors, under various names: home energy rater, building analyst, envelope professional, home energy survey professional, and more. ACCA is one of the main trade associations for HVAC contractors.ACCA has a standard for doing energy audits on existing homes. It’s called ACCA Standard 12 and was approved by ANSI.BPI has been working on getting ANSI approval for its existing homes energy auditing standard, BPI Standard 1100. Probably the biggest news I heard at the 2013 RESNET conference this year was that the Air Conditioning Contractors of America (ACCA) and 12 other organizations had asked the American National Standards Institute (ANSI) to have the Building Performance Institute‘s (BPI) accreditation as a Standards Development Organization (SDO) revoked. Really!That was big news. This year, RESNET combined its conference with ACCA’s, and that was great. The HVAC industry is critical to the success of fixing existing homes and building new homes that perform as they should. I know there’s always rivalry among organizations that are doing work in the same arena, but I didn’t expect to see one organization in our fold taking on another in such dramatic form.Before we get into this, let me say that I have connections to several parties involved. Energy Vanguard is a member of ACCA, and we’re a BPI Test Center, too. I also write articles for ACCA’s IE3 magazine and have been asked to speak at ACCA’s Building Performance Forum in Austin this year. We also are involved with energy codes, although we have no formal affiliation with the International Code Council, and we’re a RESNET accredited training provider and quality assurance provider. RESNET isn’t listed on the letter, but they helped ACCA to develop Standard 12 (see next section). ANSI’s response to the letterZarker referred to an appeal because ANSI responded to the letter by saying that they would take no action on it, as it was not filed in accordance with their procedures. I asked ACCA if the group intends to pursue the matter, and Mr. Hourahan responded to my request with this statement:“So, as initially, a follow-up response to ANSI is really up to the group to execute. And, like all things involving diverse groups with diverse pressures on individuals’ times, responding on a redirected letter to ANSI is on a schedule of its own. There is even a thread of discussion that the initial, errantly-directed letter to ANSI … albeit, not publicly released by any of the 13 (to my knowledge) … may have achieved an objective of indicating concerns and allowing an opportunity for better engagement by all parties.” BPI’s responseI also spoke with people on the BPI side. In a conference call with BPI’s CEO Larry Zarker as well as staff members John Jones and Leslie McDowell, I was told that they don’t understand how the thirteen organizations can make such claims. If BPI really violated ANSI’s due process as badly as the letter states, they asked, how could they have gotten accredited by ANSI in the first place?Regarding the vetting process of BPI 1100, Ms. McDowell said, “We responded in good faith to each of the 511 comments we received in the first round. It did take us a while because there were so many.” According to BPI, the vast majority of those comments came from ACCA, and one of their big problems with BPI 1100, they believe, is that, although BPI responded to all the comments, they didn’t make all the revisions that ACCA wanted.Another interesting thing that I learned in this call is that this is not the first time that ACCA has filed a formal complaint against BPI. On the two previous occasions, ACCA’s complaints were dismissed. The second of those was heard by a three-person panel, all of whom were members of ACCA. I believe at least two of them are also involved with BPI.The BPI folks on the call indicated to me that they know their process isn’t perfect, but their approval as an SDO and the documents that support it are all in compliance with ANSI guidelines. They feel that working with ANSI to iron out any wrinkles in the process is the best way to go about this, not having their SDO accreditation revoked.BPI feels that they will survive this complaint, if it goes further. “Should they file an appeal, we are ready. We feel very ready to talk about them, point by point,” Mr. Zarker said. Can’t we all just get along?Wow! Is your head spinning? Mine is — and not just because of all the acronyms and abbreviations! Here we have one group of organizations going after another organization, fighting over whose standard for energy audits of existing homes will win out. ACCA wants to have only one standard, and theirs is already published. BPI wants to get theirs published and then ‘harmonize’ the two.Another point of contention is that ACCA says BPI 1100 is too easy. BPI says that ACCA 12 is too difficult and expensive.This sounds like a perfect situation for compromise to me. BPI, like any organization, has its problems. So does ACCA. Each, however, brings value to the table to make energy audits, and thus homes, better. There’s a lot of work to do to analyze and improve existing homes. I think this kind of kerfuffle isn’t the best use of time and resources. Let me give the last word here to BPI’s Larry Zarker, who said: “We should figure out ways to collaborate and cooperate across industry sectors. This will become mainstream and we want to make sure the work is done well.” Allison Bailes of Decatur, Georgia, is a speaker, writer, energy consultant, RESNET-certified trainer, and the author of the Energy Vanguard Blog. You can follow him on Twitter at @EnergyVanguard.last_img read more

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TRENDS OF THE GAME COACHING BREAKFAST A SUCCESS

first_imgMore than 120 people turned out for Touch Football Australia’s inaugural ‘Trends of the Game’ breakfast at the Coffs Harbour Ex-Services Club this morning. The breakfast was hosted as part of TFA’s commitment to facilitating innovation in the sport and working towards securing the 2009 Youth World Cup and the 2011 World Cup. Australian Women’s Open coaches Kerry Norman and Dean Russell kicked off proceedings with a presentation analysing areas of the game that Australian players at all levels need to focus on as well as the type of characteristics selectors are looking for in elite squad members.Norman and Russell also presented some video footage to display the strengths of the Australian Women’s Open team and the way they claimed the 2007 World Cup. Australian Men’s Open Coach Tony Trad was next to take the floor, clearly illustrating some of his successful 2007 World Cup team’s tactics. Trad gave a fascinating insight into the processes that have been implemented over the past five years in evolving the sport in this country.  Australian Mixed Open assistant coach Karley Banks gave a presentation outlining the differences between domestic and international Mixed Touch Football as well as outlining some of the changes that need to be made to reverse the Mixed category results of the last World Cup. Australian Mixed Open Captain Tony Eltakchi supplied comic relief as usual, and support for the contention that Mixed is a pivotal genre of the game that needs to be spotlighted in the future to ensure development of the game continues.TFA Director of Coaching Dennis Coffey then made a presentation about technical aspects of player positioning as well as encouraging a uniform model of coaching throughout Australia. TFA National Director of Referees Lou Tompkins concluded the forum with a discussion of current attitudes in referring and requirements of top-level whistleblowers. The gathered throng then participated in question time with the coaches on the panel.Australia’s elite coaches through the National High Performance Program are offering their advice to budding coaches by spending time in the sub boxes of teams who request their input. The Trends of the game breakfast was very informative and well received by the crowd who braved the early morning start to listen to some of the best coaches in the business impart their knowledge to assist coaches to increase their knowledge of Elite level coaching.last_img read more

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10 months agoBologna coach Inzaghi: Emotional facing Ancelotti

first_imgBologna coach Inzaghi: Emotional facing Ancelottiby Carlos Volcano10 months agoSend to a friendShare the loveBologna coach Filippo Inzaghi is looking forward to facing Carlo Ancelotti’s Napoli.Inzaghi played for Ancelotti at AC Milan.”Facing Carlo will be really emotional,” Inzaghi said in his pre-match Press conference.“He’s a great man and we have a strong and emotional bond. We’ve always had a wonderful relationship.“However, I hope I can make him feel sad, after all the joy I brought him throughout my career…” About the authorCarlos VolcanoShare the loveHave your saylast_img

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10 months ago​PSG star Rabiot considers Tottenham ‘below’ his level

first_imgTagsTransfersAbout the authorAnsser SadiqShare the loveHave your say ​PSG star Rabiot considers Tottenham ‘below’ his levelby Ansser Sadiq10 months agoSend to a friendShare the loveParis Saint-Germain star Adrien Rabiot does NOT want to join Tottenham.Per ESPN FC, a source close to the player has said that he sees Spurs as “below” his level.The 23-year-old central midfielder is seemingly destined to leave PSG, as he cannot agree on a new contract.And it is reported that Barcelona want to sign him on a free transfer in the summer.But no agreement is final. And other clubs have an interest, including Juventus and Spurs.PSG wanted to keep Rabiot, but his wage demands of €10 million a year proved too steep.But the developments have annoyed PSG chairman and CEO Nasser Al-Khelaifi, who is unhappy the saga has dragged and that PSG will lose another homegrown talent. last_img read more

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a month agoNaby Keita chose not to travel with Liverpool for win at Sheffield Utd

first_imgNaby Keita chose not to travel with Liverpool for win at Sheffield Utdby Paul Vegasa month agoSend to a friendShare the loveNaby Keita chose not to travel with the Liverpool squad for victory at Sheffield United.The Reds saw out a nail-biting 1-0 win after Gini Wijnaldum’s strike bobbled through the legs of Dean Henderson in the Blades goal.Keita, who starred in Liverpool’s 2-0 win over MK Dons on Wednesday, was not part of the squad which travelled to Yorkshire for the lunchtime kick off.The Liverpool Echo says despite making his comeback from injury midweek, the midfielder elected to stay behind at Melwood to work on his fitness.Before Wednesday, Keita had not featured for Liverpool in five months, and Jurgen Klopp is taking extra precautions in order to ensure the 24-year-old makes a full recovery. About the authorPaul VegasShare the loveHave your saylast_img read more

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Coutinho flourishing in Neymars shadow Roberto Carlos says

first_imgRoberto Carlos recently admitted Philippe Coutinho is blooming, even though he is still under Neymar’s shadow, and might prove a key player for Brazil in the World Cup.Despite the fact that the Barcelona star scored twice in Brazil’s three games in Russia and Neymar did so only once, Neymar is still under the spotlight of the global media.Roberto Carlos, who won the World Cup in 2002, thinks if that continues, Coutinho can easily keep up the good work and even step out of the shadow.“Philippe is in a very good moment, in Barcelona and in the Brazilian team,” Carlos said, according to Sportskeeda.Neymar responds to PSG criticism with a stunning winner Tomás Pavel Ibarra Meda – September 14, 2019 Despite all the backlash he got today at Parc des Princes, Neymar responded by scoring a stunning winner vs Strasbourg.We all knew that Neymar’s…“He’s a very important player for Brazil, because the pressure is all on Neymar, then Coutinho shows up. The Brazilian team have a very strong chance to win this World Cup.”“Neymar is gettting better. He’s relaxed. He’s recovered well from his injury. He’s a very important player for Brazil. He is very calm, that is the most important thing. When he is calm I know that he can offer much more.”He also went on to advise the Brazilians to not underestimate Mexico and there is no easy games from the upcoming ones as well.last_img read more

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Legislature Is Looking At Potentially Borrowing 1 Billion To Pay Oil Debt

first_imgStory as aired: Audio PlayerJennifer-on-oil-tax-lending-bill.mp3VmJennifer-on-oil-tax-lending-bill.mp300:00RPd Facebook0TwitterEmailPrintFriendly分享The Alaska Legislature is considering a proposal that would allow the state to borrow up to $1 billion from global markets in order to cover the debt it owes to oil and gas companies. According to BlueCrest CEO Benjamin Johnson the $525 million project for BlueCrest has spent roughly $400 million and is expecting the other $125 million back from the state. But, the company has only received $27 million back in tax credits, and caused the company to take an ‘operational pause’ in order to obtain additional funding. Senate Bill 176; “An Act establishing the Alaska Tax Credit Certificate Bond Corporation; relating to purchases of tax credit certificates; relating to overriding royalty interest agreements; and providing for an effective date.” Companies like BlueCrest who started their Cosmopolitan project out in Anchor Point based on a partnership proposed by the state in 2014. The state promised billions of dollars in tax credits to smaller oil and gas companies between 2003 and 2017. But when petroleum prices plunged, the state could no longer afford to pay the credits. According to text written within the bill the debt is estimated to be be closer to $1 billion once the expected applications are submitted this year. SB 176 remains in the Senate Resources Committee as of this morning. Governor Walker signed HB111, a bill ending cash credits, into law at the end of July in 2017. The state has been paying only the minimum amount on what it owes in tax credits to companies for the past several years, but as of December 31, the state owes $806 million in credits.last_img read more

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