Canadas oilpatch adjusts to the new normal after a year of pain

CALGARY — The stream of traffic between Cold Lake, Alta., and nearby oilfields has slowed to a trickle.[np_storybar title=”Oil industry to lose 100,000 jobs by the end of 2015 as policy uncertainties, low prices decimate sector” link=”https://business.financialpost.com/news/energy/oil-industry-to-lose-100000-jobs-by-the-end-of-2015-as-policy-uncertainties-low-prices-decimate-sector”%5D The oil and gas sector will see 100,000 job losses by the end of this year, including 40,000 direct jobs, as a combination of policy uncertainties and low crude oil prices decimates the sector, the head of the country’s oil and gas industry group says.Continue reading. [/np_storybar]“It’s definitely a noticeable slowdown,” said Mayor Craig Copeland, who has been hearing from hotels, restaurants and retailers that business is down about 30 per cent year-over-year in the oilpatch’s bedroom community.It’s not much of a surprise, with crude prices spending most of the year under US$50 a barrel and sinking below US$40 a barrel this month. Most analysts expect the doldrums to stretch well into 2016.It’s also not getting any easier to build market-opening pipelines and political upsets in Ottawa and Edmonton have put many in the industry on edge.The Canadian Association of Petroleum Producers has estimated the downturn has slashed 40,000 jobs in the sector, mostly in Alberta, and has urged political leaders to keep competitiveness top of mind as they overhaul energy policy.Copeland knows there’s not much that can be done about larger market forces. What frustrates and worries him most is the “dilly-dallying” on the pipeline front.If no new pipelines come to fruition, projects already up and running will continue to keep up their current levels of output, but companies will have a hard time justifying multibillion-dollar expansions — and hiring thousands of people to build them, said Copeland.Companies in ailing oilpatch look for ways to avoid or delay layoffsMass layoffs in Alberta surge past 18,000 workers as oil’s collapse takes tollLaid-off Calgarians losing hope as prospects dwindle and money runs short“If we can’t get a pipeline out of Alberta in the next two years, we might as well start turning the lights off soon in the province.”In November, a seven-year regulatory saga culminated with U.S. President Barack Obama rejecting the Keystone XL pipeline, which would have enabled more oilsands crude to reach Texas refineries. Its backer, TransCanada Corp., is weighing its options.TransCanada’s Energy East project to New Brunswick and Kinder Morgan’s Trans Mountain pipeline expansion to the Vancouver area are in the thick of the regulatory process and both face considerable opposition. The new Liberal government has signalled it wants to change how the National Energy Board reviews pipeline proposals, but that processes underway would continue.Enbridge Inc.’s Northern Gateway pipeline to Kitimat, B.C., remains in limbo, even though it has had a federal permit to proceed since mid-2014, with 209 conditions attached. The Liberal government, which swept to power in October, has formalized a tanker ban on the northern coast of British Columbia. Project critics see that as a deadly blow, but Enbridge has not given up and continues to work on getting B.C. First Nations on side.If we can’t get a pipeline out of Alberta in the next two years, we might as well start turning the lights off soon in the provinceEuropean energy giant Royal Dutch Shell PLC cited the pipeline pinch as one reason for abandoning its Carmon Creek project in northwestern Alberta partway through construction. It took a $2-billion charge in the process.As the oilpatch digests what it will mean to have the Liberals in charge in Ottawa, the change at the provincial level has been staggering since May, when the NDP toppled the Progressive Conservatives after more than four decades in power.Alberta last month introduced a sweeping new climate change strategy. An unlikely mix of oilsands bosses and environmental campaigners joined Premier Rachel Notley on stage as she announced a plan to cap oilsands emissions at 100 megatonnes — they’re at 70 megatonnes today — and charge a $30-a-tonne carbon tax by 2018. A panel looking into the royalties the province charges the industry is expected to release its findings in the new year.The uncertainty isn’t confined to Alberta’s borders. Indeed, prominent energy economist Peter Tertzakian — who happens to sit on Alberta’s royalty panel — says the foundation of a 150-year-old energy system is being shaken amid seemingly unrelenting global oil output and a worldwide push to cut carbon emissions.“Your biggest risk is denying that change is going on,” he told business leaders at a conference in Lake Louise, Alta., last month. “If you think that things are going back to business as usual, you’re in denial.”In late 2014 as crude prices were beginning their steep descent, Canadian Natural Resources Ltd. chairman Murray Edwards raised eyebrows when he predicted crude could dip to the US$30 to $40 a barrel range this year. At the time, the price was above US$70 a barrel.Edwards’ prediction proved correct — except the price has lingered in that range for longer than he’d thought.A year later, the billionaire oilpatch financier said the industry is adjusting to a “new normal.”“We have a lot of wind blowing in our face right now, a lot of challenge before us, and so it’s really going to cause all of us to rethink how we do business if we want to maintain a viable industry in Alberta and Canada.” read more

Mens Basketball Kyle Young gives Ohio State spark in return against Penn

Ohio State sophomore forward Kyle Young defends during the Buckeyes’ 74-70 win against Penn State on Thursday at the Schottenstein Center. Photo: Ethan Clewell | Senior Lantern ReporterEven when active on the roster, sophomore forward Kyle Young’s impact wasn’t obvious.Before going down with a stress fracture in his right leg against Maryland on Jan. 18, Young averaged 7.3 points and 4.8 rebounds per game, starting in 12 of the 17 games to begin the season.But in his return to the team on Thursday, Young proved his value late down the stretch.Ohio State head coach Chris Holtmann didn’t even expect to play him as much as he did.“I was worried about his conditioning,” Holtmann said. “In my head, I thought 15 minutes, potentially, depending on foul trouble.”Fifteen minutes turned to 25 minutes, but again, Young’s statline didn’t stand out — six points and six rebounds, albeit while going 3-for-3 from the field.Without the exciting numbers, Young’s plays down the stretch of the game are what gave Ohio State just enough to pull out a 74-70 win against Penn State, a team it hasn’t defeated in the past three tries.Young found himself with the ball at the basket with his team down one point and just over a minute to go. Instead of rushing the shot opportunity, Young exhibited patience, waiting for junior forward Lamar Stevens to come down after the block attempt, leaving the sophomore forward an open layup, putting the Buckeyes up 71-70.“I thought his shot-fake finish was big there late, showed great poise,” Holtmann said. “[Young] rebounded it well, played with activity, you know, that’s who Kyle is, we’ve missed that.”Ohio State would not give that lead up the rest of the game, which again was assisted by Young.This time on the defensive end, it was Stevens attacking the basket with Young defending. Again, Young got the better of him, blocking Penn State’s leading scorer with 38 seconds to play.“I know he was hungry to be back, so he didn’t need too much motivation to come into the game and give his all,” freshman guard Luther Muhammad said. “We just told him to come in, continue to play his game and just play within the team and he had to do good and he did.”Young’s indent on his team can be situational. But when he has chosen to take an opportunity, he has proven to be reliable.During Big Ten play, games in which the Buckeyes are 5-6 as opposed to their 10-1 nonconference record, Young has remained a consistent presence.Ohio State is shooting 43.8 percent as a team in conference play, but Young has made 23 of his 27 attempts in seven games, good for 85.2 percent from the field, highest on the team of anyone besides redshirt junior forward Danny Hummer, who is 1-for-1.Moving forward, while the Buckeyes continue to look for answers due to a small roster, Young could be the difference maker when the time is needed.Against Penn State, he proved to be exactly that, even after a four-game absence.Junior forward Andre Wesson didn’t even think Young was ready to play yet.“When he said he was playing, I was like ‘You’re playing?,’” Wesson said. “He came in, didn’t miss a beat, he was still out there doing his job, rebounding, being another key part of our defense with blocking shots and everything, so it was good to see.“ read more

Nasa découvrez en vidéo le test du système déjection de la capsule

first_imgNasa : découvrez en vidéo le test du système d’éjection de la capsule Orion Nouveau-Mexique, États-Unis – Le système d’éjection d’urgence de la capsule Orion a été testé jeudi dernier au Nouveau-Mexique. L’opération s’est déroulée avec succès. Orion est un vaisseau d’habitation mis au point depuis 2006. A la base, il devait permettre d’envoyer des astronautes sur la Lune d’ici 2020, dans le cadre du programme Constellation. Cependant, le 1er février 2010, Barack Obama annonçait l’abandon de ce programme : Orion doit depuis devenir le “canot de sauvetage” de l’ISS (Station spatiale internationale).Le système testé permettra de “projeter la capsule dans laquelle se trouveront des astronautes en cas de mauvais fonctionnement de la fusée porteuse lors de l’ascension sur orbite ou d’incendie sur le pas de tir avant le lancement” explique l’AFP.Grâce à ses capacités et sa technologie plus avancée que les autres systèmes d’éjection conçus jusqu’alors, le dispositif mis au point pour Orion a pu, lors d’un test, projeter le vaisseau à une vitesse de 720 km/h. Pour ce qui est de la descente, elle s’est faite à une vitesse de huit mètres par seconde, grâce au déploiement de parachutes conçus pour freiner la chute de la capsule. Pour découvrir la vidéo de ce test : https://www.maxisciences.com/nasa/test-du-systeme-d-039-ejection-de-la-capsule-orion_art7266.htmlLe 10 mai 2010 à 12:12 • Emmanuel Perrinlast_img read more

Un puits romain presque intact découvert en Angleterre

first_imgUn puits romain presque intact découvert en AngleterreDécrivant leurs travaux sur le site Internet Archaeology, des chercheurs britanniques ont mis à jour, près de la ville de York en Angleterre, un puits de conception très élaborée, datant de la fin de la période romaine. À l’occasion de fouilles préalables à l’agrandissement du campus de l’Université d’Heslington, près de York (nord de l’Angleterre), les archéologues de l’Université de la même ville ont mis au jour un puits romain pratiquement intact. D’après eux, ce dernier a probablement été utilisé durant plusieurs décennies entre la fin du IVe et le début du Ve siècle. À lire aussiMaladie de Charcot : symptômes, causes, traitement, où en est on ?Mais contrairement aux autres dispositifs anciens d’approvisionnement en eau de la région (notamment ceux de l’âge du Bronze), celui-ci relève d’une conception sophistiquée. En effet, placé en haut d’une colline, il a bénéficié de techniques de maçonnerie nouvelles pour l’époque. Les blocs de pierre, probablement extraits de carrières calcaires situées à 30 km de là, ont été équarris et courbés sur leur surface extérieure et assemblés soigneusement. La base du puits est en forme de cuvette et composée de dalles de calcaire triangulaires fixées directement sur l’argile naturelle. La technique employée suggère une grande compréhension de la structure du sous-sol. La construction intègre cependant (symboliquement ?) un ornement provenant du toit d’une bâtisse plus ancienne. Par ailleurs, le puits contenait plus de 1.000 pièces de poterie romano-britannique, et autant de fragments d’os d’animaux (moutons, bovins, chevaux, cerfs et chien) dont certains portent des traces de boucherie. “Il y a suffisamment de preuves pour indiquer que certains de ces éléments (assez ordinaires) ont été délibérément placés dans le puits de façon symbolique”, conclut ainsi l’archéologue Steve Roskams.Le 13 juillet 2013 à 10:58 • Maxime Lambertlast_img read more

Resident speaks Bring in Bahamian Police raids have to happen

first_imgFacebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, TCI, February 6, 2017 – More should be done to curb crime and one resident we spoke to today is calling for reinforcement from outside of the country; Edith Skippings said to bring in The Bahamas.   “They don’t know the local people here, so they need not have any favoritism or be afraid to approach people or homes and look for these thieves here in the Turks and Caicos Islands.  We really need to get to the bottom of this.”While a tender is out for CCTV to come for the down town area, there are several initiatives the public believes ought to happen including random raids of houses where illegal firearms may be kept and where they may be on sale for as low as a few hundred dollars.   Skippings said the situation is way out of control. “To put this situation under control, and show the people that are causing all this crime and sadness here in the Turks and Caicos that we mean business.”#MagneticMediaNews #BringinBahamianPolice Related Items:#BringinBahamianPolice, #magneticmedianews Facebook Twitter Google+LinkedInPinterestWhatsApplast_img read more

San Diegans brace for sticker shock at the pumps Wednesday

first_img KUSI Newsroom San Diegans brace for sticker shock at the pumps Wednesday SAN DIEGO (KUSI) — November 1 is D-Day at the gas pumps. It is the day the Governor-led, 12 cents per gallon gas tax hike goes into effect in California.There is no question California’s roads and infrastructure are in need of repair, but the debate includes how to fund the billions needed.Some ask the question why can’t Sacramento find the money from the taxes Californians already pay, including from the already-high cost at the pump. But Gov. Jerry Brown says the backlog is too huge.Wednesday, gasoline prices will go up 12 cents per gallon — 20 cents per gallon for diesel. The increase occurs at the same time California is changing over to the winter blend of fuel, when gas prices typically decrease.“It stinks — passed without anybody saying anything,” Terri Ryan said. “Aren’t we already paying too much? We didn’t have a chance to vote on it.”“We should have a say and we should revisit sometime soon hopefully,” Darren Taplin said. “I’m also hoping somebody takes a second look because I also heard money isn’t going where they say it’s going.”Upset California drivers have an ally in state Assemblymember Travis Allen, who is running for governor and leading an initiative to get the tax repealed.“Less than 70 cents on the dollar, less than 70 percent will go to our roads, and of that most for mass transit and bike lanes, not a penny for new roads so if you don’t like it now, tomorrow you’ll like it even less when you are paying even more money for it,” Allen said on Good Morning San Diego Tuesday.The initiative won’t take effect anytime soon though. The gas tax will be in effect until at least January 2019.  KUSI Newsroom, Posted: October 31, 2017 October 31, 2017 Categories: Local San Diego News FacebookTwitterlast_img read more

USO San Diego Stars and Stripes Gala to honor our military

first_img 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 SettingsUSO San Diego’s 77th Annual Stars and Stripes Gala: For Love of Country honors and supports our active duty military personnel and helps provide them with much-needed services.The signature gala has emerged as one of the top five gala events in San Diego and celebrates the strong, enduring relationship between San Diego and our Armed Forces.Gala entertainment for the evening includes Two Time Tony Award winner Brian Stokes Mitchell. A powerful baritone, Stokes has been one of the central leading men of the Broadway theatre since the early 1990s. He won the Tony Award for Best Actor in a Musical in 2000 for his performance in Kiss Me, Kate.For the second year, Joe Emerson, National Anthem Singer, Painter, and TV personality will lend his remarkable talents to the galaUSO San Diego is chartered by Congress, but takes no federal or state funding and relies on the generosity of the community to help make a difference in the lives of military personnel and their families.The organization provides services to more than 220,000 active duty military members and their families 365 days a year at its award-winning Neil Ash USO San Diego Airport Center and downtown San Diego facility.It connects these dedicated warriors to home, community and country; from transitioning, to deployed troops, to the wounded, injured and fallen. Its programs include family dinners, much-needed food distribution; and services for families in crisis. May 5, 2018 John Soderman, KUSI Newsroom, Categories: Good Morning San Diego, Local San Diego News FacebookTwitter John Soderman, KUSI Newsroom center_img USO San Diego Stars and Stripes Gala to honor our military 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 Settings Posted: May 5, 2018last_img read more

Wynn terminates negotiations to take over Australias Crown Resorts

first_img RelatedPosts Hong Kong Jockey Club cites “serious integrity concerns” in complaint over Crown Resorts-owned betting exchange Wynn Resorts shares favored over Wynn Macau: analysts Wynn Resorts says it has ceased its pursuit of Crown Resorts after news of a potential US$7.1 billion acquisition of the Australian casino operator broke on Tuesday morning.In a statement released overnight, Wynn spokesman Michael Weaver said, “Following the premature disclosure of preliminary discussions, Wynn Resorts has terminated all discussions with Crown Resorts concerning any transaction.” Wynn Resorts to undergo internal restructure as part of refinancing plan Load More Wynn’s withdrawal follows confirmation by Crown Resorts that it was in confidential discussions with the US-based gaming industry giant.As reported by Inside Asian Gaming early Tuesday, Wynn Resorts had submitted a takeover proposal to Crown to test whether the Australian-listed company’s shareholders would be willing to pursue a takeover deal.In a filing to the Australian Securities Exchange shortly afterwards, Crown revealed that the proposal suggested an acquisition of Crown by Wynn via scheme of arrangement that would see 50% paid in cash and the remaining 50% in Wynn shares.“The proposal currently contemplates acquisition consideration with an implied value of AU$14.75 per share with the exchange ratio being fixed, using a volume weighted average price for Wynn shares, immediately prior to the announcement of an agreed transaction,” Crown explained.“At the date of the proposal, the volume weighted average price of Wynn shares implied an exchange ratio of 0.042 Wynn shares per Crown share. The terms of the consideration are yet to be agreed.”Crown added that it had not yet considered Wynn’s most recent proposal and that any potential takeover would depend on a recommendation by the Crown board and Wynn obtaining all necessary approvals.“The discussions between Crown and Wynn are at a preliminary stage and no agreement has been reached between the parties in relation to the structure, value or terms of a transaction. There is no certainty that these discussions will result in a transaction,” Crown said.Crown Resorts operates Crown Melbourne and Crown Perth and is currently developing its luxury AU$2.2 billion Crown Sydney at Barangaroo, due for completion in 2021.The company has had some prior dealings with Wynn, having sold the company a 34.6-hectare parcel of land adjacent to Wynn Las Vegas on the Las Vegas Strip in December 2017 for AU$300 million. The site had previously been purchased by Crown to build its now defunct integrated resort concept, Alon Las Vegas.last_img read more

New poll says DunleavyBegich spread is under 5 percent

first_imgRepublican Mike Dunleavy, left, and Democrat Mark Begich are the two main candidates for governor. (Photos by Rashah McChesney/Alaska’s Energy Desk)New poll results show a much closer race for governor after independent Gov. Bill Walker suspended his campaign.Listen nowPollster Ivan Moore of Alaska Survey Research found Republican Mike Dunleavy is leading Democrat Mark Begich by 4.6 percent, 48.3 percent to 43.7 percent.The poll was taken Friday through Monday.Dunleavy led in a poll taken a week earlier by 17 points, in a three-way race that included Begich and Walker.Moore’s latest poll results say that 5.3 percent of voters plan to vote for Walker, even after being told that Walker ended his campaign and endorsed Begich.The poll results say that if Walker actively campaigned for Begich, it wouldn’t help him. Begich lost ground to Dunleavy in a question about how Alaskans would vote if Walker actively campaigned for Begich, talking particularly about the gas line.Libertarian candidate Billy Toien was not included in the poll.last_img read more

President PM pay homage to Bangabandhu

first_imgPresident Abdul Hamid and Prime Minister Sheikh Hasina on Tuesday paid deep homage to Father of the Nation Bangabandhu Sheikh Mujibur Rahman at Dhanmondi. Photo: Prothom AloPresident Abdul Hamid and Prime Minister Sheikh Hasina on Tuesday paid deep homage to Father of the Nation Bangabandhu Sheikh Mujibur Rahman as the nation is observing the 42nd anniversary of his martyrdom in a somber mood, reports news agency UNB.President Hamid and PM Hasina paid tributes to the architect of the independence by placing wreaths at the portrait of Bangabandhu in front of Bangabandhu Memorial Museum at Dhanmondi Road No. 32 in the capital in the morning.The day is being observed as the National Mourning Day.As part of the state programmes, at first the President and then the Prime Minister laid wreaths separately at the portrait of Bangabandhu. After placing the wreaths, the President and the Prime Minister stood in solemn silence for some time showing respect to the great leader.A smartly turned out contingent of Bangladesh Armed Forces gave state salute at that time, while the bugle played the tune of grief and somber to the last post.A munajat was offered seeking the eternal peace of the departed souls of the 15 August carnage.Bangabandhu, his spouse Sheikh Fazilatunnesa Mujib, his three sons—Sheikh Kamal, Sheikh Jamal and Sheikh Russell, and most of the family members of three close relatives of Bangabandhu—were killed in cold blood on 15 August 1975 by a cabal of army men.Two daughters of Bangabandhu—Prime Minister Sheikh Hasina and Sheikh Rehana—escaped the carnage as they were abroad at that time.Sheikh Rehana, the youngest daughter of Bangabandhu, Speaker Dr Shirin Sharmin Chaudhury, Chief Justice SK Sinha, cabinet members, Prime Minister’s advisers, senior leaders of Awami League and 14-Party and senior government officials were present.Speaker Dr Shirin Sharmin Chaudhury and Chief Justice SK Sinha followed the President and the Prime Minister in paying tributes to Bangabandhu.Later, Sheikh Hasina, also the President of Awami League, flanked by party’s General Secretary Obaidul Quader and senior leaders, placed wreaths at the portrait of Bangabandhu on behalf of the Awami League.After paying the tributes to Bangabandhu, the Prime Minister along with her sister Sheikh Rehana visited the historic residence of Bangabandhu at Dhanmondi Road No. 32 which witnessed the world’s most barbaric carnage on this day 42 years ago.Sheikh Hasina and Sheikh Rehana stayed for some time in the house which now has been turned into Bangabandhu Memorial Museum.Later, the Prime Minister went to Banani Graveyard where her mother Bangamata Fazilatunnesa Mujib, Sheikh Kamal, Sheikh Jamal and Sheikh Russell and other martyrs of 15 August were laid to the eternal rest.Sheikh Hasina and Sheikh Rehana placed floral wreaths and spread petals on their graves.She also offered fateha seeking the eternal peace of the departed souls of the martyrs of 15 August.last_img read more

Harris County Treasurer Defends His Office After Employees Arrest

first_imgPhoto via Twitter @HarrisCountyDAO Harris County District Attorney Kim Ogg.Harris County Treasurer Orlando Sanchez said District Attorney Kim Ogg‘s call for an independent financial audit of his office is out of line because he said there are already such audits underway.“Not one red cent of county money was ever used and it’s not been alleged that it was used and, in fact, we are routinely audited by the auditor’s office,” said Sanchez. Photo via click2houston via HCSOGregory Lueb, 56, was charged with theft.Authorities arrested Harris County Assistant Treasurer Greg Lueb last week for stealing some $30,000 from a credit union account through check fraud. Sanchez also criticized Ogg’s representation of crimes, calling them ‘alarmist’. “The District Attorney created the impression there was public money involved in this nefarious activity one of my employees was involved in,” said Sanchez.In a statement, Ogg defended her call for an audit, saying Lueb had access to agency funds and a desire to steal.“County leaders are obligated to protect taxpayer money; it is our job to be vigilant and perform our due diligence,” said Ogg.“That can be done by taking a look at other accounts to make sure all money is accounted for and once that is done, then we can ensure taxpayers their money is indeed safe.”Sanchez fired Lueb as soon as he found out about the investigation – a day before Lueb’s arrest last Thursday. Sanchez said he wished either the District Attorney or the Sheriff had notified him about ongoing investigations of Lueb to take action sooner.  Sharelast_img read more

Snow has fallen in areas surrounding Ladysmith

first_imgWebsiteWebsiteWebsite WebsiteWebsiteWebsite WebsiteWebsiteWebsite There has been snow in surrounding areas, as predicted by the South African Weather Service, bringing with it an icy-cold breeze blowing through Ladysmith.Snow has fallen over most of the mountain ranges in KZN, with the Drakensberg covered in a thick white blanket.Social media is a hive of activity, with everyone wanting to catch a glimpse of the “white winter wonderland”.Also read: Weather warning: Cold and possibly wet conditions in store for Ladysmith todayAlso read: Icy weather expected for Ladysmith as cold front approaches, with snow predicted in some areasAlso read: Snow predicted to start falling from today, bringing cold weather to Ladysmith Also read previous snow stories: Avoid travelling in areas where snow may fallAlso read previous snow stories: Snow on the mountains brings in the coldSnow-gazers, however, need to be careful that they don’t get trapped in snowbound areas. In addition, people are warned not to go into private properties or damage farm fences.There are many areas open to the public where the snow can be viewed.So, enjoy the cold weather and be safe when travelling on the roads.Click to receive news links via WhatsApp. Or  for the latest news, visit our webpage or follow us on Facebook and Twitter. Join us there!last_img read more

Biker injured in crash near Ladysmith

first_imgWebsiteWebsiteWebsite WebsiteWebsiteWebsite WebsiteWebsiteWebsite A motorcyclist was involved in a crash this morning (July 24) near the Tugela River.It is alleged that the biker lost control and veered off the road.Emergency officials responded to the scene.Also read: Well-known Ladysmith biker dies in crash on Bergville roadAlso read: 2 injured as vehicle rolls near Ladysmith’s Indoor Sports Complex Also read: Taxi crashes into Ladysmith home after collisionThe driver sustained slight injuries and was treated by paramedics at the scene.Click to receive news links via WhatsApp. Or  for the latest news, visit our webpage or follow us on Facebook and Twitter. Join us there!last_img

By the Numbers Survey Shows Best Investment Markets Q3

first_img Agents & Brokers Attorneys & Title Companies Investment Investors Lenders & Servicers Processing Service Providers 2011-09-14 Abby Gregory September 14, 2011 421 Views Share Numbers between the second and third-quarters of the year lend an in depth look at the real estate markets to invest in now. According to a recent survey from “”HomeVestors of America, Inc.””:http://www.homevestors.com/ and “”Local Market Monitor, Inc.””:http://www.localmarketmonitor.com/, now is the time to buy in some of the nation’s most compromised areas.[IMAGE]The HomeVestors-Local Market Monitor series evaluates the best regions around the U.S. in which to buy rental property, and the results, while not surprising, give investors and real estate professionals valuable forecasts for the approaching quarter. The latest data reveals that around 14 percent of single-family residential properties are maintained as rental products, and the company’s survey seeks to demonstrate the key locations yielding a high risk-return premium, calculating the top 20 investment cities in the country.The top 10 cities making the list for the third-quarter include Las Vegas, Nevada; Detroit, Michigan; Orlando, Florida; Warren, Michigan; Fort Lauderdale, Florida; Bakersfield, California; Tampa-St. Petersburg, Florida; Phoenix, Arizona; Stockton, California; and West Palm Beach, Florida. All of the metro areas highlighted by the HomeVestor-Local Market results boast a risk-return premium of more than 2 percent above the national average, based on a 5.4 percent U.S. average during the third-quarter. Las Vegas and Detroit have exceptionally high numbers, with a 5 percent and 4.3 percent besting of the national average respectively. Rounding out the top 20 listing are Atlanta, Georgia; Bradenton-Sarasota, Florida; Rochester, New York;[COLUMN_BREAK]Forth Worth, Texas; Dallas, Texas; Syracuse, New York; Jacksonville, Florida; Fresno, California; Tuscon, Arizona, and Memphis, Tennessee. Each of the cities in the lower half of HomeVestor’s peak 20 have a risk-return premium that falls 1.4 percent or more above the country’s average.Ingo Winzer, president and founder of Local Market Monitor, Inc., said of the new statistics, “”A sharper than expected fall in recent home prices, which are down almost 5 percent in the last year, has led us to lower expectations for future prices. ├âÔÇÜ├é┬áAt the same time, however, higher inflation and slow but steady job growth should boost future rents. ├âÔÇÜ├é┬áThe desirability of investing in rental properties is therefore positive. ├âÔÇÜ├é┬áIn fact, the national average risk-return premium has ticked up ever so slightly from 5.3 percent to 5.4 percent since last quarter. The future relative returns for large markets suggest that Las Vegas and Detroit are still very risky, highly speculative markets that could have a big payoff only if the local economy rebounds faster than we expect. ├âÔÇÜ├é┬áSafer but still advantageous markets include Dallas, Fort Worth and Atlanta. ├âÔÇÜ├é┬áThe most interesting markets are in Florida and Arizona, where home prices have still not bottomed out but rents will eventually be supported by renewed population growth; investors in these markets must take a long-term view but will be rewarded if they can tolerate high vacancies for a few years.””Elaborating on Winzer’s statements, HomeVestors’ co-president David Hicks commented, “”What we’re seeing in the marketplace reinforces the results of the latest ranking. ├âÔÇÜ├é┬áOur franchises in West Palm Beach, Atlanta, Phoenix, Dallas, Fort Worth and Tucson all report a marked increase in investor interest in rental property opportunities. ├âÔÇÜ├é┬áInvestors are recognizing the potential for homes in these markets to produce above-average financial returns.”” ├âÔÇÜ├é┬áThe HomeVestors-Local Market Monitor “”Best Markets to Invest in Rental Property”” data is released quarterly, and a lengthier top 100 investment market list is available online. Dallas-based HomeVestors has been in business since 1996 and is the first real estate franchise investment company in the U.S.; Local Market Monitor offers real esate forecasting, specializing in market valuation, long-term risk, and investment perspective.center_img in Data, Government, Origination, Secondary Market, Servicing, Technology By the Numbers: Survey Shows Best Investment Markets Q3last_img read more

Treasury Undersecretary Discusses GSE Recapitalization

first_img If you’re hoping to see the beleaguered Fannie Mae and Freddie Mac adequately recapitalized, you’re going to have to wait another two decades or so. But Mary Miller, the Department of the Treasury’s undersecretary for domestic finance, is hoping to find another way.As she put it at Friday’s National Housing Conference Annual Policy Symposium in Washington, D.C., the current system of taxpayer-funded GSEs simply doesn’t work.Miller painted a rather grim picture of the GSEs, saying the entities have shut out far too many otherwise-credit-worthy borrowers by making lenders reluctant to lend and by putting the risk squarely on taxpayers’ shoulders. Miller’s portrait of the American housing market design shows a badly flawed system in which the average taxpayer will get the bill if the market were to crash again. This, she said, would happen despite the federal government’s significant presence in the housing market, which includes ongoing funding of the GSEs.But any perceived health in the current system is a false security, Miller said. The profitability of the GSEs in the past two years has, after all, “been driven by income from their retained portfolios, which benefit from being funded through Treasury capital … at low rates the private market cannot obtain,” she said.These portfolios remain significant sources of income for entities such as Fannie and Freddie. However, the GSEs are required to shrink their portfolios by 15 percent per year, meaning that the GSEs will not be able to replicate the levels of revenue they’ve achieved over the past two years. “In short, adequately recapitalizing the GSEs would take longer than many realize or would admit,” she said.To make “a fairer and more sustainable housing finance system” will take a lot more than simply refilling the coffers of Fannie and Freddie—which, she said, would take at least 20 years to do. In the meantime, unless the design of the system is changed, there is little more to go on than crossed fingers that nothing goes wrong until the 2030s.The cornerstone of this new design should begin with a return of private capital to the center of the system, Miller said. President Barack Obama has embraced this same idea since his first term, saying that the GSE’s current model simply allows private shareholders and executives to benefit at the expense of taxpayer losses. The new housing finance system must also provide borrowers widespread access to safe, responsible products, including 30-year fixed-rate mortgages, she said.Whatever happens will take a lot of work and a lot of patience. “There is no quick-fix solution around this,” Miller said. “Only legislation can protect taxpayers by responsibly winding down the GSEs and replacing them with a system where a government guarantee is transparent and explicitly priced.” in Daily Dose, Government, Headlines, News, Secondary Market Treasury Undersecretary Discusses GSE Recapitalization Sharecenter_img June 16, 2014 540 Views Fannie Mae Freddie Mac Treasury 2014-06-16 Scott_Morganlast_img read more

Go back to the enewsletter Theres no better time

first_imgGo back to the e-newsletterThere’s no better time to walk in the Dolomites than in spring and autumn, when – outside of the high summer season – the hiking routes are quieter and temperatures are milder. The only decision to make is whether to go in spring to see the wild flower meadows or in autumn when the landscape turns a golden hue. Or to go twice, given that Adler Dolomiti has some great walking offers in both seasons.Adler Dolomiti in Ortisei, the capital of Val Gardena, provides the perfect base from which to explore the Dolomites, not least because two guided walks are offered every day by the hotel on a complimentary basis. The routes of these hikes changes daily, so one day you could be enjoying a gentle four-and-a-half hour walk across Europe’s highest pastures and the next you could be experiencing wonderful panoramic views on a demanding and varied ascent in the direction of Rasciesa.Whichever route you take, it will form a part of the 13,000 kilometres of natural, well-marked trails in the region that lead through apple orchards, along irrigation channels, Alpine mountain paths and sweet chestnut groves, and across high meadows, while affording stunning views of the Dolomites’ pinky-grey craggy limestone peaks and virgin forests that pepper the landscape. Wildlife is abundant too – it’s possible to see marmots, eagles, white partridges and chamoix.It is really not surprising that the Dolomites, a UNESCO World Heritage Site since 2009, are one of the world’s best-loved walking areas. The dramatic scenery and wide range of routes on offer, from easy hikes to the challenging via ferrata (literally, iron roads, which were created during the First World War to assist troop movement) make this region a perfect destination for a wide range of guests from families through to experienced hikers.Returning to the Adler Dolomiti after a hard day’s exertions, guests can enjoy complimentary use of the hotel’s 9000 square metres of private parkland and the largest wellness facility in the Dolomites, with three distinct zones: Dolasilla for beauty and vitality, Aguana where the pools, including thermals, are located, and AdlerFit with a full programme of activities – yoga’s always popular for stretching out muscles after a long hike uphill.The Adler Dolomiti’s Spring is in the Air and Autumn Sunshine Walking Specials are valid from 12 May to 18 June and from 18 September to 4 December 2016, respectively, and include:Two daily guided hikes – a main hike and an easy-going leisure hike – with in-house guides Thaddäus and PauliA packed lunch when there is no mountain hat at which to stop for lunch en routeBackpacks, telescopic poles and maps provided free of chargeA hearty snack on your returnPhoto service by downloadOne wine tastingThe Spring in the Air packages also include two lift tickets per person per stay.Prices start from Euros 425 (approx £335) for a three-day weekend break rising to from Euros 911 (approx £720) for a week-long stay, per person sharing a double room on a half-board basis, with the possibility to book four or five night packages as well.Go back to the e-newsletterlast_img read more

Chamber festival boosts music as a tourism draw

first_imgThis is the one event of the year that definitively proves we underestimate our tourists. Admit it, go on. We’re all a little guilty of assuming our summer visitors are merely here for the sun-soaked party season. But we’re wrong. Because a significant percentage of our yearly guests visit Cyprus for something entirely different: culture. And if there’s one event that proves our tourist trade relies on more than just sun, sea and sex, it’s this. The International Pharos Chamber Music Festival.It’s a stance the Cyprus Tourism Organisation would agree with. According to the CTO the one thing that is an intrinsic part of the local touristic experience is culture, with visitors to the island “always including arts events and galleries, festivals, museums and the like as an important part of their visit,” a spokesman said. A study in 2013 showed that 58.6 per cent of visitors said cultural tourism was an important criterion for choosing Cyprus, although only one in two had indeed gained experiences of cultural tourism.Running from May 31 to June 6 this year, the Pharos festival is a meeting place for both locals and visitors; an event which lures any number of cultured, educated tourists to Cyprus with its world-class musicians and seamless performances. Over the years, it’s attracted more than 25,000 visitors, tourists from countries as far afield as Japan and Australia who look on the festival as the highlight of their cultural calendar. In part, it’s because practically no other festival of a similar calibre is so affordable: where else in the world could you listen to pianists Yuja Wang or Sergei Babayan for a mere €15? But it’s also the locations: Carnegie Hall is all very well, but you haven’t lived until you’ve heard the musicians perform a Vivaldi Concerto in an ancient olive grove…A world-class, open-air concert venue, which plays host to relaxed and informal events and creates intimacy between artists and the audience, the Olive Grove in Delikipos is one of the festival’s two gorgeous locations. Surrounded by forest, dotted with pools of water, and illuminated by sparkling lights, the venue is perfect for sprawling on a blanket under a tree with a glass of wine while taking in the strains of a chamber orchestra. Then there’s the Royal Manor House in Kouklia, one of the finest surviving monuments of Frankish architecture on the island and a UNESCO World Heritage site. Together, these two venues make for “a unique concert experience,” says Yvonne Georgiadou, the Pharos Arts Foundation Artistic Director. “There is a mystifying, uplifting energy at both locations that almost defies description. Not only does the festival take advantage of the ambience and history of the venues, it also delivers performances at the highest level. And, as for our guests, well, we don’t even regard these visitors as tourists anymore because they have grown to be regular audience members of our festival year after year. But this is what cultural tourism is about – focused, concentrated and highly beneficial to the local community.”Of course, the festival also attracts a large local audience: both music-lovers and – most intriguingly – those who have no particular affinity for classical music, but who pull out all the stops to make sure they’re in attendance for at least one of the concerts. The reason? “Nothing is coincidental,” says Yvonne. “Any non-mainstream music genre may seem initially intimidating; it takes time to cultivate the audience’s aural perception – but we’ve been working systematically toward that direction for years. People tend to be hesitant at first, but once they enjoy a good experience, one that is both captivating and rewarding, they will revisit and gradually ask for more. In the end, they don’t just tolerate another ‘classical music’ gig, but realise that they have discovered a new world, one they truly cherish.”However, the Chamber Music Festival isn’t just about luring tourists to the island, or even developing a local appreciation for classical music: it’s also about giving back. To this end, the non-profit organisation has maintained a strong tradition of community service over the years, which includes the comprehensive educational activities programme which has been running in conjunction with the festival for 12 years now…“The first ever educational project took place in April 2006,” Yvonne reveals. “But, to be honest, it was an experience that left me quite upset: I found the students were tremendously untamed and disrespectful of what was being offered; some laughed at the artists, others didn’t pay any attention at all to what was being communicated. But you have to find ways to reach the youth, and so this is what we’ve done over the years: working around the structure of the programme by keeping the students in small activity groups and eliminating any kind of formality in the training process, creating a feeling of liberation and inspiration in the classes.”These days, Yvonne explains, the programme is seen in a totally different light: the 75,000 local students and young professionals who have benefitted from the free educational concerts, workshops, lectures, master-classes and open consultations over the years are now engaged and agreeable, viewing attendance as a unique privilege.“Our aim is not to turn all these students into professional musicians but to give them the opportunity to expand their sound worlds and communication skills,” says Yvonne. “Pharos has now been around for a generation, and has benefitted students, young professionals and music-lovers the world over. We’ve organised hundreds of concerts with the most prominent musicians in the world, made music accessible to the general public, changed perceptions and opened the way to true cultural advancement. It’s not always been an easy journey, and has required a lot of sacrifices to get where we are now, but that’s not going to stop us…”With plans in the works to expand on the festival venue at The Olive Grove, Delikipos, Pharos is moving full steam ahead. An innovative Centre for Art, Culture and Dialogue which will provide space for music and the visual arts, as well as sanctuary for artists, writers, composers, musicians and thinkers from all disciplines and backgrounds, is planned – a fitting testament to the charitable ethos of the Pharos Foundation. “In fact, I can’t imagine a better way to salute our future ventures than the debut of the brilliant Dakapp Chamber Orchestra and the exceptional world-class soloists of the Pharos Chamber Music Festival,” Yvonne concludes. “2018 is the festival’s twentieth anniversary. We’re looking forward to our many visitors over the 20 to come!”The 18th International Pharos Chamber Music FestivalFrom May 31 to June 6. For bookings and more information on the full programme of events, call 22 663 871 (Mon-Fri, 10am – 3pm) or visit www.pharosartsfoundation.org. All concerts start at 8.30pm. Tickets cost €15 / €10 (Concessions, Members of the Pharos Arts Foundation) and are available both online and from Kyriakou Fullpage Bookshops, Paphos (26 822850)You May LikeFinance BlvdSean Connery Just Turned 88 & Looks IncredibleFinance BlvdUndoZoHealthy6 Common Foods that Have Gluten You Should Avoid!ZoHealthyUndowww.quickbooksupport.netQuickbooks Support | Call us @ 1-877-227-2303www.quickbooksupport.netUndo LED-lighting the way by 2020UndoTwo of serial killer’s victims buried in PhilippinesUndoHigh temperatures increase risk of firesUndoby Taboolaby Taboolalast_img read more

Little Sierra to be bid a final farewell

first_imgA final farewell will be bid on Sunday afternoon to six-year-old Sierra Graze Seucalliuc, the youngest victim of convicted serial killer Nikos Metaxas.As is the case for all seven victims of Metaxas, the state will be shouldering the costs of the funeral service, which will be taking place more than a year after little Sierra was murdered.As per the request of Sierra’s father, after the service the corpse will be transferred to Romania for burial.Sierra was murdered by Metaxas alongside her mother, 39-year-old Mary Rose Tiburcio, on May 4, 2018.Metaxas is the first recorded serial killer on the island and is currently serving seven life sentences in the central prisons.Tiburcio was the first of Metaxas’ victims to be found in a mine shaft in Mitero on April 14 after heavy rains filled the shaft, raising the body upwards.Six-year-old Sierra was the last victim to be found on June 12 in lake Memi in Xyliatos, where a tiresome operation including divers and high-tech equipment had for months been scouring an area of the lake falsely indicated by Metaxas, who was finally taken on-scene anew and pointed to the correct area, leading to the location of the body the same day.During his conviction on June 12, Metaxas told the court that he had first strangled Mary Rose due to his belief that she was pimping out her daughter, before strangling the little girl “while thinking of the Greek genocide of 1922.” You May LikeCalifornia Earthquake AuthorityEarthquake insurance that fits your future plansCalifornia Earthquake AuthorityUndoSUVs | Search AdsThese SUVs Will Take Your Breath Away. Research 2019 Luxury Crossover SUV DealsSUVs | Search AdsUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndo Authorities release five of 12 Israeli rape suspects, seven due in court FridayUndoConcern over falling tourism numbersUndoA new way of doing businessUndoby Taboolaby Taboolalast_img read more

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