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Commission Approves Settlement Agreement for Former Financial Advisor

first_img comply with Nova Scotia securities laws pay an administrative penalty of $7,500 pay costs in connection with the commission’s proceedings of $1,000 be reprimanded be denied the use of exemptions contained in Nova Scotia securities laws for two years be prohibited for two years from acting as a director or officer of any issuer, registrant or investment fund manager be subject to close supervision for two years upon the grant of any category of registration with the commission complete the conduct and practices handbook course offered by the Canadian Securities Institute within six months of being granted any category of registration in Nova Scotia. The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities in the province. To view the order, visit http://nssc.novascotia.ca . The Nova Scotia Securities Commission has approved a settlement agreement with former financial advisor Michael Andrew Harrigan. Mr. Harrigan violated Nova Scotia securities laws by selling securities and providing investment advice to the public while not being registered with the commission. “Registration laws are in place to protect investors and foster fair and efficient capital markets,” said Heidi Schedler, the commission’s enforcement counsel. “Although an investor may have faith or trust in the competence of the financial advisor, it is still important for the investor to be proactive about protecting their investments by ensuring their advisor is registered with the commission.” Mr. Harrigan admitted to the wrongdoing and accepted responsibility for his conduct. The commission approved the settlement agreement and ordered him to:last_img read more

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Prison Directorate Says Zafzafi Denies Writing Letter to Rif Protesters

Rabat – The General Directorate of the Prison and Reintegration Administration (DGAPR) has denied that Nasser Zafzafi was the author of the letter published by his lawyer Mohamed Zian on Wednesday.In a statement issued Thursday, the DGAPR assured that it would file a request to open an investigation about the letter allegedly written by Zafzafi and addressed to the people of the Rif, promising to inquire about the actual source of the published message.According to the DGAPR, Zafzafi “categorically denied in a written statement all the allegations made by the lawyer mentioned [ Zian], including his claim that he received the document published on social networking.” The commission explained that it would prevent Zian from communicating with the institution’s residents, saying that the lawyer is “not seeking to serve his client’s interests, [but in] serving an agenda aimed at fomenting sedition and fueling the situation.”On Wednesday, Zafzafi’s lawyer published the controversial letter on social media, assuring the public that it was in fact issued by the arrested Hirak movement leader. The five-page handwritten letter is signed with Zafzafi’s serial number “Prisoner Number: 74823.” In the letter, the purported author greets his supporters and relatives, while paying tribute to those who still pursue the social movement “in fidelity to our ancestor Emir Mohammed Ben Abdelkrim El Khattabi, may the blessing of God by upon him. Thanking his supporters for their “civilized militancy that has been going on for more than seven months, through which they have demonstrated their sincere patriotism,” the letter continues with the alleged author insisting on his innocence and that of all Hirak detainees. “I renew the assurance of our innocence of all the accusations against us. Charges that are only fabrication and machination, whose desperate goal is to silence the voice of freedom that has arisen since the death of the martyr Mohsine Fikri,” the letter reads.Full of Qur’anic verses and lyrical metaphors, the letter calls on Zafzafi’s companions to respect the peaceful character of the movement. “I renew my advice for pacifism. Nothing other than pacifism as the only way for our claims to win. I advise you to reject violence, extremism and not to deviate from our legitimate demands.” read more

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Nearly 2 billion could be needed for housing after disaster

“More affluent people have also been affected,” he said, adding that consequently, this would have also a bearing on revenue to the government. [The Western Province approximately accounts for about 40 per cent of the country’s gross domestic product]. Finance Minister Ravi Karunanayake termed as premature any forecast of the impact of the recent floods on the country’s economy, The Hindu newspaper reported.Interacting with members of the Foreign Correspondents’ Association, Karunanayake, however, said that as per an initial estimate, $1.5 billion to $2 billion would be required for housing. Around 1.3 lakh houses were subjected to floods. “Many are redeemable but require attention as they were under water for seven days.” So far, 101 persons have died due to floods and landslides and the number of missing persons is 100. About 62,000 persons are still in relief camps. (Colombo Gazette) Pointing out that 25,000 to 30,000 houses needed to be reconstructed, he said that small and medium enterprises, numbering 25,000 to 30,000, were also affected. A comprehensive assessment had been planned in this regard. Notably, the impact of the latest spell of natural disaster was “harder” on Colombo and other parts of the Western Province. read more

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Almost one in two Mozambican children remain mired in extreme poverty –

The analysis finds that while the country shows potential to meet the Millennium Development Goals (MDGs) related to poverty reduction, child mortality and maternal health by the target date of 2015, the social and economic benefits of the last decade have not been distributed evenly among Mozambique’s estimated 10 million children.About 49 per cent face severe water deprivation, which means they only have access to surface water – such as rivers – for drinking, or they live more than 30 minutes away from a usable source.Almost as many lack easy access to basic sanitation, including a communal toilet or a latrine, and one in four aged between seven and 18 years old have either never been to school or do not currently attend.The problems are worst in rural areas, where almost two out of three children live in extreme poverty, those households headed by a woman and for Mozambique’s 1.6 million orphans, who have often lost their parents to AIDS-related illnesses.Launching the report in the Mozambican capital, Maputo, the Secretary-General’s Special Envoy for Humanitarian Needs in Southern Africa, James Morris, said the report was important because it provided the most comprehensive picture yet of the state of the country’s children. read more

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Oil reaches 50 a barrel but analysts still expect rough ride

Oil reaches $50 a barrel, but analysts still expect rough ride AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email (Stock photo: FreeImages.com) The price of oil topped $50 U.S. a barrel in trading Thursday morning, something that hasn’t been seen in months.Chief Petroleum Analyst with EnPro International Roger McKnight calls it a significant psychological barrier for producers, especially for those in the oil sands.“So, that’s getting close to the number where things get a little more attractive to carry on producing the oilsands crude. The thing that sort of concerns me is this just a bubble that’s about to burst because the OPEC meeting is on June 2,” he said.He fears the price of oil could tumble again if OPEC members can’t agree to cut back their production next month.However, McKnight still believes the price of crude has to rise in the coming months to offset the increase in consumption brought on by the summer driving season south of the border. by Posted May 26, 2016 7:34 am MDT read more

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Eradicating sexual violence in conflict not a mission impossible – UN senior

“As daunting as the road ahead is, I do not think eradicating sexual violence in conflict is a mission impossible,” the Secretary-General’s Special Representative on Sexual Violence in Conflict, Zainab Bangura, told reporters in Geneva.“We have the tools to combat this scourge, but we need the political will to implement the relevant Security Council resolutions and a commitment from governments to enforce them,” she added.Ms. Bangura outlined six objectives she will pursue in her new capacity. They consist of: addressing impunity and justice for victims; protecting and empowering affected women; strengthening the political will for implementing Security Council resolutions pertaining strategies to combat and prosecute sexual violence; coordinating the response of the international community to sexual violence; understanding rape as tactic of war; and encouraging local and national ownership of the problem and its solution.“Sexual violence in conflict needs to be treated as the war crime that it is,” she said. “It can no longer be written off or treated as an unfortunate collateral damage of war or unavoidable byproduct of political strife.” Ms. Bangura also noted that sexual violence in conflict is no longer a gender issue as men and boys are increasingly becoming victims of sexual violence in conflict situations. In particular, she said, her office is monitoring the situation in Libya and Syria, where sexual violence has been used to get testimonies and information.Ms. Bangura stressed that the problem is not particular of one region, but is recurrent all over the world. “This is not only a women’s issue and it is a global issue. It is occurring in Serbia, Cambodia, Sudan, Sri Lanka, Colombia, and Nepal, among others,” she said.In addition, the Special Representative underlined that the focus must shift from the victim who is stigmatized by society to the perpetrator.“We must work with national governments. We must allow them and force them to take leadership in this to be able to build a national framework that will be able to ensure that the cases are prosecuted and the victims have their day in court. Let us put the light on the perpetrators not the victims,” Ms. Bangura said, noting that to do this it will be necessary to build capacities to investigate sexual violence, train magistrates to prosecute these sexual violence crimes, and help countries build legal frameworks. She added, “The message for perpetrators must be ‘there is no hiding place in the world. Wherever you are we will get you.’” read more

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Ohio State mens lacrosse focused on not looking past Marquette

Returning home from a tough road trip to Jacksonville with a 2-0 record, the Ohio State men’s lacrosse team will set its sights on this weekend’s home matchup with the Marquette Golden Eagles. Led by senior attacker and captain Logan Schuss’ nine goals over the past two games, the Buckeyes’ offense has been flying high this season, averaging 11.5 goals per game in the first two games of the season. It also earned Schuss Eastern College Athletic Conference Offensive Player of the Week honors. Sophomore midfielder Jesse King, who scored two goals Sunday against Jacksonville, said he looks to continue that trend against Marquette. “I think it’s our whole offense, we are slowly starting to come together and build that chemistry between us,” King said. “I know we have the first two lines, that everyone is very capable of scoring.” Two areas in which the Buckeyes struggled during the preseason were winning groundballs and turnovers, and coach Nick Myers said he put a heavy focus on those issues heading into the year. The coach’s message has apparently sunk in as OSU leads its opponents 59-45 in groundballs won. “Groundballs is a stat that speaks to extra possession, that speaks to an effort level, that speaks to a tenacity that certainly we pride ourselves on,” Myers said. “That’s a key component to our success.” A win Saturday is much needed for OSU, which hopes to capture as many wins as possible before what might be a touch stretch in the month of March. Five of the Buckeyes six games in March are against teams ranked in the top 11, including current No. 3 Notre Dame and No. 1 Loyola (Md.). Freshman attacker Carter Brown knows the schedule ahead will be rough, but isn’t overlooking an inexperienced Golden Eagles squad. “We got the board ‘beat Marquette’ in the locker room, just stick to our next game,” Brown said. “Coach has done a great job, telling us just don’t look past our next opponent.” For OSU it is harder to prepare for a team like Marquette, who is in its first season as a program. “I think people underestimate the ability with a first-year program,” Myers said. “It’s a little unsettling knowing they haven’t played and that we have no film. We have very little preparation, and I know they have film on us.” The Buckeyes are scheduled to take on the Golden Eagles at 1 p.m. on Saturday at the Woody Hayes Athletic Center. read more

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Catherine Corless says more human remains are likely to be buried under

first_img Catherine Image: Niall Carson/PA By Órla Ryan Catherine Wednesday 8 Mar 2017, 11:42 AM Mar 8th 2017, 11:42 AM 79 Comments 17,480 Views Image: Niall Carson/PAcenter_img Share812 Tweet Email1 Updated 3.40pmCATHERINE CORLESS HAS said she believes more remains of babies and children are likely to be buried under a playground near the former site of a mother and baby home in Tuam, Co Galway.Galway County Council (GCC) has said there is no record to indicate any human remains were discovered during the construction of a housing estate adjacent to the former Bon Secours home in the 1970s.In a statement to TheJournal.ie, the local authority also said there are no records of the discovery of human remains during the subsequent development of a playground at the site.The council added that all relevant records have been made available to the Commission of Investigation into Mother and Baby Homes.Speaking to TheJournal.ie today, Corless said the housing estate is “in the outlying area” but she believes remains are buried under the playground, based on maps she has examined.I really believe they have to be under that as well. There are bodies there, in coffins, from what I gather from the research I’ve done.Corless said it’s likely no remains were found during the construction of the playground as it wasn’t necessary to dig very deep, just level out the ground.“I know when they were building they found no bones … They wouldn’t have found anything as the dig didn’t go that deep, the coffins would be buried down so many feet.”Vindication On Friday, amateur historian Corless was vindicated by the Commission’s confirmation that a significant number of children’s bodies were found at the site in a structure which appears to be “related to the treatment/containment of sewerage and/or wastewater”.During her research, Corless got a map of the site dating from the late 19th or early 20th century – when the building had been used as a workhouse.By overlaying a map of the site as it looks today, she discovered that the place where bones were discovered by two boys playing in 1975 correlated exactly with where a sewage tank had been located during the building’s workhouse days. The tank had been put out of use in the 1930s when it stopped working.The scale of the issue would likely not have been uncovered were it not for Corless’s tireless research, which found that 796 children died at the home and were not given an official burial place. Her work led to the recent excavation of the site.An initial stratigraphic study was carried out at the Tuam site in October 2015 which identified an area of interest, which was then excavated between November 2016 and February 2017.Scientific analysis found the remains are of children who died aged between 35 foetal weeks and two to three years.It is understood there are currently no plans to carry out further excavations in the area.‘Understandable emotion’A spokesperson for GCC said, on foot of Friday’s announcement, “All households living in the immediate vicinity were engaged with on a one-to-one basis, where possible, and a leaflet drop in the extended area, covered approximately 120 homes.The statement continued:The council is conscious that time is required to allow families, the local community and all with a personal connection to the site, to deal with the understandable emotion associated with the confirmation of the discovery of human remains, by the Commission.“The council, recognising that there are varying views, is committed to facilitating an appropriate consultation process with the local community, about the future of the site. The timeline for the consultation process will, of necessity, be influenced by the continuing work of the Commission, the statutory role of the coroner and the potential for involvement by other authorities.“The council recognises that the confirmation, provided by the Commission was, and will continue to be, the cause of upset, being particularly difficult for all with a personal connection to the site. The council will continue to approach the issue with sensitivity and compassion, while continuing to support the work of the Commission and all relevant parties.”Read: She was right: How Catherine Corless uncovered what happened in TuamWatch: ‘We took their babies and gifted them, sold them, trafficked them and starved them’ Short URL Catherine Corless says more human remains are likely to be buried under Tuam playground Galway County Council has said no remains were found when the housing estate and playground were being built. Tweet thisShare on FacebookEmail this article https://jrnl.ie/3276296 last_img read more

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Backyard a target for speeding vehicles

first_imgThe Neighborhood Traffic Safety Alliance meets at 7 p.m. on the third Tuesday of every month (excluding December and summer months) at Vancouver City Hall, 415 W. Sixth St. NTSA Chair Ross Montgomery said the May 20 meeting is the last chance for residents to bring up a traffic safety problem in this year’s budget cycle.For more information, contact Montgomery at montre2ecs@aol.com or 360-892-1968. The program is limited to those living in Vancouver city limits.NTSA is a pilot program, and it’s unknown whether it will continue in 2015. Learn more online.The first time someone drove through Ryan Euverman’s fence, it might have been a fluke.The second time, the vehicle that flew through his backyard fence stopped when it hit a play structure his daughters use. The third time, a driver hit the fence in broad daylight. But the fourth time? That was probably the worst.That’s when a vehicle speeding down Southeast 168th Avenue in Vancouver’s Bennington neighborhood failed to make the 90-degree turn near Euverman’s backyard. It was about 11 p.m. on a Sunday last November. The vehicle took out the fence on the south side of his property, barreled through the length of his yard, took out the north-side fence and crashed into his neighbor’s house, damaging a bathroom.last_img read more

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Teen skateboarder fatally hit by truck in Fort Lauderdale

first_imgFORT LAUDERDALE, FLA. (WSVN) – A 15-year-old boy has died after he was hit by a truck in Fort Lauderdale.According to Fort Lauderdale Police, the teen was riding a skateboard on Northwest Ninth Avenue and West Sunrise Boulevard when a truck backed into him, just after 8:30 p.m., Sunday.Fort Lauderdale Fire Rescue crews rushed the victim to an area hospital, where he succumbed to his injuries.Police have shut down Northwest Ninth Avenue in both directions between Sunrise Boulevard and Northwest 12th Street as they investigated.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.last_img

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Filmmaker Documents Emotional Toll Of Caring For Alzheimers Patients

first_imgLocal filmmaker Mary Katzke of Affinity Films, has taken on the subject of family members caring for loved ones with Alzheimer’s Disease. Katzke says she started out documenting friends in the sandwich generation: Those with careers, children at home and also caring for aging parents but she focused in on five families dealing with Alzheimer’s because of the emotional toll of caring for a family member who may not recognize you. One of those caregivers is Janet Burts, who has been caring for her mother since her father passed away in 2010. Katzke says in a state with the fastest growing elder population per capita of any other, exploring the individual decisions that each family has to make is timely.Download Audiolast_img

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2 muggers injured in RAB gunfight

first_imgTwo muggers sustained injuries in an exchange of gunshots with a team of the Rapid Action Battalion (RAB) in front of a market in Azimpur area of the capital on Tuesday afternoon, the elite force claim.RAB-10 director and additional deputy inspector general (DIG) of police Shahabuddin Khan told Prothom Alo, “A few members of a mugging gang were waiting inside two private cars that had stickers of police intelligence in front of the market.”Two ‘muggers’ were injured in an exchange of gunshots with a RAB team in Azimpur of Dhaka. Two pistols and bullets were seized at the scene. Photo: Hasan Raja“When the RAB men challenged them, they fired gunshots aiming the elite force members, prompting them to retaliate. The incident left two of the muggers injured while the others managed to flee the scene,” he added.The RAB boss further said the injured were taken to Dhaka Medical College Hospital and they both are out of danger.Two pistols and bullets were seized.Earlier on 13 July, two people were injured in a “gunfight” with RAB men near the Dhakeswari temple in the city.Later, one succumbed to his injuries at a hospital.last_img read more

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Man Who Aided Baltimore Hospital Patient Discharged in Gown Shocked

first_imgBALTIMORE (AP) — The man who said he came to the aid of a woman discharged from a Baltimore hospital wearing only a gown and socks on a cold winter’s night, says he was left outraged and stunned at how she was treated.This Tuesday, Jan. 9, 2018, still image taken from video provided by Imamu Baraka shows a woman discharged from a Baltimore hospital wearing only a gown and socks on a cold winter’s night. Baraka, identified in local reports as the person who sought to help the woman, told The Associated Press he was so angry he decided to record Tuesday night’s events on cellphone video, fearing no one would believe him if he reported a woman being left at a bus stop like that. (Imamu Baraka via AP)Imamu Baraka, identified in local reports as the person who sought to help the woman, told The Associated Press he was so angry he decided to record Tuesday night’s events on cellphone video, fearing no one would believe him if he reported a woman being left at a bus stop like that.“I saw the unthinkable: another human in a wheelchair being wheeled out in the dead of cold,” he said in the phone interview Thursday evening.He described frigid temperatures in the 30s and a cold wind blowing at the woman’s hospital gown, exposing her to the elements.Baraka, who said he has a psychotherapy practice in a building across the street from the Maryland Medical Center Midtown Campus, said he rushed back to his office, retrieved his cellphone, returned and hit “record” while growing increasingly angry.As a medical professional, the psychotherapist said he sought to keep his emotions in check even as he repeatedly challenged those who had wheeled the woman out to the street in the dark.“At first I was shocked. I couldn’t believe what I was seeing. And I move beyond that to the next level from being shocked. I became … irritated and fearful for the young lady. And then I became angry,” he recalled.He added he failed to get satisfactory answers as he tried to help the woman.Of those who brought her outdoors, he said: “I asked them three times, I asked them specifically, ‘Are you going to leave this lady out here like this?’ They kept walking. They then went inside of the building.” He said he went and asked a security guard outside the hospital for a supervisor and was told “I am the supervisor.”Rebuffed, he said, he then went and tried to help the woman shelter in the bus stop while calling 911 for an ambulance. He said he asked the arriving ambulance crew where they would take her, and they replied “back to the hospital.”Recalled Baraka, “I said, ‘Are you kidding me, they just dumped her on the curb.’”It wasn’t immediately clear what happened to the woman after she was driven back toward the hospital. But the hospital confirmed in a statement that the woman was discharged that Tuesday night.This Tuesday, Jan. 9, 2018, still image taken from video provided by Imamu Baraka shows a woman discharged from a Baltimore hospital wearing only a gown and socks on a cold winter’s night. Baraka, identified in local reports as the person who sought to help the woman, told The Associated Press he was so angry he decided to record Tuesday night’s events on cellphone video, fearing no one would believe him if he reported a woman being left at a bus stop like that. (Imamu Baraka via AP)Dr. Mohan Suntha, president and CEO of University of Maryland Medical Center Midtown Campus, told a news conference on Thursday afternoon that the hospital had “failed” after the video posted on Facebook showed the unidentified woman mumbling and appearing disoriented in frigid weather outside. Suntha also said there were no excuses for what happened to the woman.“We believe firmly that we provided appropriate medical care to a patient who came to us in need, but where we absolutely failed, and where we own that failure, is in the demonstration of basic humanity and compassion as a patient was being discharged from our organization after having received that care,” he said.He added that the woman wasn’t mistreated while in the hospital’s care and that the incident was isolated and that hospital officials were conducting an extensive internal review.Said Suntha, “We do not believe that what occurred Tuesday night in any way defines who we are as an organization. There has been a lot of conversation since this incident came to light.”last_img read more

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This Oregon company wants to build electric cars in Costa Rica

first_imgRelated posts:Costa Rica to host third International Sustainable Building Congress Kiva, Viogaz offer microloans for biodigesters in rural Costa Rica Costa Rican researchers develop new climate change-resistant beans MOPT: Half of San José’s traffic lights will be solar-powered by year’s end In early September, some of the people seemingly best placed to help Costa Rica reduce emissions from transportation — the Achilles heel of the country’s carbon neutrality goal — held a forum at the Jade Museum in downtown San José to talk about how to do it.On the panel was the author of a bill that would cut taxes on electric cars imports, a representative from the Costa Rican Electricity Institute and one from a consortium of public bus companies. Vice Minister of Energy Irene Cañas was also there.But for believers in the private sector’s superior ability to effect change, there was a surprise guest at the end. During the question-and-answer period, Karla Hill stood up and announced that she had just moved her business to Costa Rica from Oregon and planned to manufacture affordable electric cars for the local market and beyond.Hill said Costa Rica’s commitment to renewable energy, its army-ditching history and its ambitious goal of becoming carbon-neutral by 2021 inspired her to move the company, Venus Motors, to Costa Rica to help the country sever its ties with fossil fuels once and for all.“We believe Costa Rica can show Latin America and the rest of the world what can happen if you embrace the change,” Hill said in an interview near her home in Brasilito, Guanacaste.Hill said the newly-registered Venus Motors Costa Rica plans to convert gasoline or diesel engines to electric and build its own electric cars, starting with its signature “Veep.”The company eventually wants to set up 10 small assembly plants around the country. It’s starting with two: in Grecia, Alajuela, and Filadelfia, Guanacaste. Hill said some 45 people would be employed at each plant.She said the company’s goal is to begin assembling cars in March.From Venus Motors 1.0 to 2.0In the U.S., Venus Motors occupied a niche of the niche electric car industry. The Bend, Oregon-based company builds electric components for the custom vehicle industry, along with the Veep, a jeep-like, all-electric car.Hill said there are over 300 car shops in the U.S. equipped to build cars using Venus’ engine and drivetrain.She hopes the company can make a big impact in a small country like Costa Rica. “We can be a drop in the bucket in the U.S. but we can make a real difference in Costa Rica.”Hill said she was inspired by a recent TED talk given by Monica Araya, a Costa Rican environmentalist and founder of Costa Rica Limpia, which seeks to empower citizens to “green” the country’s future. But Hill’s dream of moving to Costa Rica was seeded much earlier.She read a book in 1989, “The Greatness in the Smallness” by Hungarian philosopher and healthy living guru Edmond Bordeaux Székely.Székely — after translating ancient texts, penning dozens of books, traveling all over the world and founding the renowned health spa Rancho La Puerta in Baja California, Mexico — retired to Costa Rica in 1975, according to a new documentary about his life. He died here in 1979 at the age of 74.“The Greatness in the Smallness” is a tribute to Costa Rica’s democratic history and its achievements in education and health care.“I was inspired,” Hill said of the book. “I wanted to live in a country and pay taxes in a place where they’re not fighting wars over oil and they’re doing worthwhile things with their taxes.”Hill said she’s had her sights set on Costa Rica ever since. But she promised herself that she wouldn’t come as a tourist.So when Grupo Solaris, a Costa Rica-based firm that provides solar and LED lighting, reached out to Venus Motors about bringing its Veep car to Costa Rica, Hill decided to bring the whole company down.Glen Nickerson, business development director for Grupo Solaris, said the company was looking for an electric vehicle producer to complete the company’s array of renewable energy products and services. It settled on Venus because of the flexibility of the company’s vehicle design — multiple body styles can be attached to the rolling chassis — and because of its promise in making electric vehicles affordable.“Venus has the target market models that can be assembled simply using commonly available tooling to keep the final price at a reachable level,” Nickerson said via email.Hill emphasized the ease of working on the cars they produce, saying the parts involved “are recognizable by any mechanic in the world.”“We can ship these components anywhere and teach someone how to put them together,” Hill said.Costa Rica’s car-making historyCosta Rica certainly isn’t known as a vehicle manufacturing hub. But the country does have some experience in the field.In the 1970s, the GM “Amigo” was built here, part of the firm’s attempt to establish itself in developing countries by offering inexpensive, locally-made “Basic Transportation Vehicles” or BTVs.Fast-forward to the present: Grupo Purdy Motors, the local Toyota importer, began assembling Hino trucks here this year.At first, Hill said, Venus Motors will import most of the components needed to build electric vehicles from the company’s suppliers in the U.S. But Venus hopes to source components as close to Costa Rica as possible in the future, she said.Venus Motors is looking to open a shop in Sarchí — renowned for its locally made wood and leather furniture — that would employ craftspeople to make interior upholstery for the company’s vehicles.As for the price tag, Hill said Venus Motors can make electric cars for a baseline $30,000 with financing options. Car owners can charge their cars through a regular 110-volt electrical outlet at home and avoid gas stations — and gas prices — altogether.Electricity is much cheaper than gasoline in Costa Rica, and it comes almost entirely from renewable sources.“This is the only place we can plug a vehicle in and have it be a truly clean energy vehicle,” Hill said.A bill making its way through the Legislative Assembly could give the electric car market here a boost by exempting electric cars and their components from an array of import taxes and offering perks like free parking.The bill also calls for setting up electric car charging infrastructure around the country. But it is currently stalled while legislators debate whether to include tax breaks for hybrid electric-gas vehicles and hydrogen-powered vehicles, among other issues.Venus Motors Costa Rica is still in the early stages of setting up shop here. But come this time next year, Hill hopes there will be Venus electric cars on Tico roads.“We’re going to help Costa Rica meet its carbon-neutral goal by 2021,” Hill said. “This is going to be a model that other people stand up and notice.” Facebook Commentslast_img read more

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Tourism attractions in Turkey

first_imgTurkey is a country with 97% of it’s territory in West Asia and the Middle East, with a small section in Southeastern Europe separated by the Turkish Straits. At the crossroads of civilizations, the country has a number of ancient ruins.Source: World Travel Guideslast_img

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Moodys downgrades Coop baseline credit assessment to ca

first_imgMoody’s Investors Service on Tuesday downgraded the baseline credit assessment of the state-owned Cyprus Cooperative Bank to ‘ca’ from ‘caa2,’ citing a shortfall in provisions rendering a capital increase necessary.It also placed the bank’s ‘Caa2’ long-term, local and foreign currency deposit ratings on review “with direction uncertain,” Moody’s said in an emailed statement. It did the same also with the bank’s long-term ‘Caa1(cr)’ counterparty risk assessment (CRA) and affirmed its ‘Not-Prime’ short-term deposit ratings and ‘NP(cr)’ short-term CRA.The outcome of the bank’s decision to seek an investor to either acquire it as a fully licenced lender or buy its assets or part of them will determine the review, Moody’s said.“The extent of any capital raised, or the credit profile of the acquirer of the bank’s assets and liabilities will be key drivers of the direction of the resulting rating action,” it said adding that the bank, owned to over 99 per cent by the government, has a predominantly retail focus in loans and deposits.“Moody’s says that the two-notch downgrade of the bank’s baseline credit assessment to ‘ca’ from ‘caa2’ reflects the rating agency’s view that the bank has a provision shortfall which will have to be filled either through a capital increase, with funds coming from private investors or the government, or through the sale of all or part of the bank’s assets and liabilities,” Moody’s said. “Although Cyprus Cooperative Bank currently satisfies all of its regulatory requirements, the bank’s capital shortfall stems from weak solvency and limited progress to date in tackling its asset quality issues”.The bank, which struggles with a 59 per cent non-performing loan ratio, “down slightly from its peak of 60 per cent,” has a provision coverage, ie the amount of provisions compared to total non-performing loans, of 45 per cent, Moody’s said.“Accordingly, (the) Cyprus Cooperative Bank’s capital buffer, with a ratio of tangible common equity to risk weighted assets at 11.3 per cent as of September 2017, is vulnerable owing to its high provision gap,” the rating company added.Moody’s said that in the event of the bank significantly increasing its capital or reducing its delinquent loans, it would upgrade the baseline credit rating. On the other hand, it would downgrade it if it was placed into liquidation.“The deposit ratings could be downgraded if the bank is unsuccessful in its efforts to find an investor or the credit risk profile of an acquirer of the bank’s assets and liabilities is weaker than the bank’s current deposit ratings,” Moody’s continued. “The deposit ratings could be confirmed or upgraded if there is a capital infusion or improvement in the bank’s coverage of non-performing exposures, or if the bank is acquired by an entity with a credit risk profile in line with or stronger than that of (the) Cyprus Cooperative Bank”.You May LikeSidiario.comFind out what foods make you smell badSidiario.comUndoHistory DailyPhotos From The Past Show A Different Side To HistoryHistory DailyUndoSaving with George for Bokksu3 Reasons This is The Most Fun Subscription BoxSaving with George for BokksuUndo Two days of music to dance toUndoMayors lobbying president to prevent local govt mergersUndoProtest outside the House over foreclosures lawUndoby Taboolaby Taboolalast_img read more

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