Sale to Republic Bank will not move forward – Scotiabank

first_imgThree days after Central Bank of Guyana denied the application for Republic Financial Holdings Limited, the parent company of Republic Bank (Guyana), for the purchase/acquisition of the operations of Scotiabank in Guyana, the Canadian bank has said that it will continue business here until a solution can be made on the issue.In a brief statement, Scotiabank’s Manager – Communications and Corporate Social Responsibility (Caribbean), Cindy Mohammed said as a result of the decision communicated by the Bank of Guyana, the sale of Scotiabank’s operations in Guyana to Republic Bank will not move forward at this time.“We will continue to deliver business as usual and focus on the best long-term solution for our employees and customers,” Mohammed said in the statement.Meanwhile, President and CEO of Republic Financial Holdings Limited (RFHL), Nigel Baptiste, has since said that while the development is disappointing, “we do not dwell on disappointment. As a group, we remain fully engaged and committed to supporting the nation of Guyana through our operations there, as well as toward ensuring the success of all activities for which we have received the requisite regulatory approvals, under the proposed BNS acquisition. We appreciate the Bank of Guyana’s acknowledgement of the value of our longstanding role in the development of Guyana’s financial landscape and our continued contribution to the financial sector”.On Tuesday, Governor at the Central Bank of Guyana, Dr Gobind Ganga, told Guyana Times that the application was denied in light of concerns about “concentration” and “competition” which would have negative impacts on the country’s financial system.He stated that both banks were notified about the Central Bank of Guyana’s evaluation and position on this matter.“…to tell, more specifically, Republic Bank that we could not approve their application for the merger or acquisition of the assets because of a number of factors. But largely it would be the high level of concentration in the financial and/or banking system that would have had an impact on the health of the financial system with respect to systemic risks. In addition, with respect to cost because it would have led to lower cost efficiency meaning that competition would have been affected,” Ganga told this publication.According to Dr Ganga, had Republic Bank (Guyana) been allowed to forge ahead with its planned takeover of Scotiabank’s operations here, then this would have resulted in systemic effects.“It could cause things happening in the financial system which we could not control…we would have indicated to Scotiabank that we don’t have a problem in terms of the bank wanting to sell but we would have liked for them to look into the areas where you would not have the concentration and you have a proper, potential buyer,” he added.In late November 2018, after the proposed buyout was announced, Opposition Leader Bharrat Jagdeo had stated that Republic Bank Limited’s acquisition of Scotiabank’s operations in Guyana could be unhealthy for the local financial sector.His statements came on the heels of the Canadian-based Scotiabank announcing that it has signed an agreement to sell its banking operations in Guyana and eight other Caribbean nations to Republic Financial Holdings Limited.Last November, Republic Bank had announced that it was seeking to acquire Scotiabank operations in St Maarten, Guyana, Anguilla, St. Kitts and Nevis, Antigua and Barbuda, Grenada, Dominica, St Lucia, and St Vincent and the Grenadines.On September 7, 2019, Eastern Caribbean Central Bank (ECCB), in consultation with the ECCB Monetary Council, had approved the application for the transfer of the assets and liabilities of the Bank of Nova Scotia to the Republic Financial Holding Limited (RFHL) in Anguilla, Dominica, Grenada, St Kitts and Nevis, Saint Lucia and St Vincent and the Grenadines.last_img read more

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Everton set to welcome back key defensive duo for Manchester United showdown

first_img1 Everton defender John Stones is expected to be fit for Saturday’s visit of Manchester United.The 21-year-old, who has emerged as a key man for the Toffees since making his first team breakthrough, has missed the last two games due to a knee injury.He was also forced to withdraw from the England squad to face Estonia and Lithuania in their remaining Euro 2016 qualifiers.But Stones has now returned to training with Everton and his manager Roberto Martinez is hopeful he will start against United at Goodison Park.“I think he should be ready,” said the Spaniard.“Remember that John has been having a lot of quality work at Finch Farm and it will be a matter of just getting that match fitness.“We have still got three very important days ahead of that fixture in terms of preparation so we’ll get a better idea on Friday of where John is.“I would say medically he is ready now. He’s been joining the group and from a medical point of view I don’t think there is a concern or worry.”Everton are also set to welcome back Seamus Coleman.The full-back has not featured for the club since the 3-1 win over Chelsea in September due to a hamstring injury but played for the Republic of Ireland on Sunday.Tyias Browning has impressed for Everton in Coleman’s absence, but he is likely to make way against United. John Stones last_img read more

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first_imgClannadDONEGAL band Clannad are to be presented with a lifetime achievement accolade at the BBC Radio 2 Folk Awards, one of the world’s most glittering music prizes for the genreThe family act, who made their debut in 1973, said they were “absolutely honoured” to be recognised.Folk singer Martin Carthy, who has been performing for 50 years and recorded more than 40 albums, will also be given a special award. The awards, marking their 15th anniversary, will be held at London’s Royal Albert Hall on 19 February.Clannad, which comprises siblings Moya, Ciaran and Pol Brennan and their twin uncles Noel and Padraig, shot to fame with their theme to TV drama Harry’s Game in 1982.The Gaoth Dobhair family haven’t looked back since.Their younger sister was recruited to the band in the late 1970s and went on to have an internationally successful career as solo star Enya. “We are really looking forward to being part of the big night at the Royal Albert Hall,” added the band, who will also perform at the awards ceremony.Their previous accolades include a Grammy for the best new age album in 1999, while they won a career achievement honour at the Ireland’s Meteor Awards in 2007. CLANNAD TO GET LIFETIME ACHIEVEMENT AWARD was last modified: February 8th, 2014 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:BBCClannadRadio 2 awardslast_img read more


Concern expressed for elderly support in Budget 2020

first_imgDisappointment has been expressed today (Tues) that there has not been further support for older people in Budget 2020.ALONE, the organisation that supports older people to age at home, said they were ‘frustrated’ that there has not been further support in the areas of pensions and home supports while welcoming initiatives such as the increase to the living alone allowance. “The decision to deny older people any increase to their pension is hugely frustrating,” Seán Moynihan, ALONE CEO, said. “Many people assume that older people have their financial needs met by their state pension. Financial hardship is often a hidden issue among older people, yet it is the third most frequent reason older people contact ALONE.“In 2017, more than 63,000 people over 65 were experiencing enforced deprivation.“In order to deliver financial security to older people, the pension needs to be benchmarked against 35% of average earnings, which would require an increase of at least €7-€9 to the state pension this year and in the coming years.”  Concern expressed for elderly support in Budget 2020 was last modified: October 8th, 2019 by Shaun KeenanShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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Arcata girls shutout Del Norte

first_imgThe Arcata Tigers made easy work of the visiting Del Norte Warriors on a wet, rainy field in the first round of the Humboldt-Del Norte League girls soccer tournament with an 8-0 victory Tuesday afternoon in Arcata.The Tigers (12-6-1) jumped out to an early lead with a spectacular first-half goal from freshman midfielder Annie Macdonald. Macdonald’s goal would be the first of many for a Tigers squad that was firing on all cylinders on Tuesday.Arcata was able to keep the Warriors (4-11) off …last_img read more

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London fund to invest in BEE

first_img2 February 2006London-based firm Blackstar Investors is to help fund black economic empowerment (BEE) deals in South Africa to the tune of £35-million (R380-million), signalling that foreigners are growing increasingly comfortable with investing in the country and in empowerment financing, Business Day reports.This is in sharp contrast to five years ago, when a first round of empowerment deals in mining battled to find foreign support.“It shows foreign understanding of empowerment and the risks and rewards that go with financing it has grown,” says Business Day.The company’s local arm, Blackstar Managers, is to identify opportunities for investment. Blackstar, listed on London’s alternative AIM market, is the first fund of its type and an “endorsement” of the BEE process by leading members of the international investment community, managing partner Andrew Bonamour told the newspaper.He said a number of institutions and hedge funds had invested in Blackstar, including Fidelity, Eton Park, Merrill Lynch Schroder and JP Morgan. The company was previously known as Illuminator plc.Bonamour told Business Day that international hedge funds had a mandate to invest a portion of their capital in emerging markets.BusinessMap director Reg Rumney said empowerment charters and the Department of Trade and Industry’s recently released empowerment codes had given foreigners a lot more investment certainty. Empowerment deals worth R40- to R50-billion were struck in 2005.“Certainly there is a role for private equity financing because there is an enormous amount of activity,” Rumney told Business Day.Blackstar expects to finalise its first transaction later in February, putting forward the capital needed by empowerment partners to buy a stake in a company operating in the resources sector.Bonamour said Blackstar was aiming at providing a percentage of financing required for empowerment deals up to about R25-million. Blackstar plans to play an active role in managing investments and will help its black partners with due-diligence studies and reporterlast_img read more

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Mrs SA First Princess helps women take wing

first_imgOlwethu Leshabane joins forces with Brand South Africa as a Play Your Part ambassador. The current Mrs South Africa First Princess is also an accomplished businesswoman and thought-leader in the entertainment and media industries. Olwethu Leshabane, Play Your Part ambassador and Mrs SA First Princess, is committed to developing the role women play in growing South Africa through her position as a Play Your Part ambassador, businesswoman and head of non-profit organisation Red Wings. (Image: Olwethu Leshabane, via Facebook)Play Your Part reporterBusinesswoman, wife and mother Olwethu Leshabane, crowned Mrs SA First Princess in October 2016, is one of our new additions to the Play Your Part ambassadors, who go above and beyond in supporting the development of South Africa and its people.Born in the coastal city of Port Elizabeth and raised in Pretoria, 26-year-old Leshabane juggles the demands of motherhood and business, as well as takes an active role in the development and empowerment of women.A brand strategist, Leshabane also runs and co-owns Stanford Media, the media arm of diversified investment holding company Stanford Group.EmpowermentLeshabane, a firm believer in the immense potential that women have to change South Africa and the world, can now use her status as Mrs SA First Princess to raise awareness about women’s health issues, encourage the education of young women, and empower women socially and economically.One of her major goals, she says, is “to use the crown to make a meaningful contribution towards significantly dropping the ever-increasing statistics of women being killed or abused in relationships and marriages by advocating for tolerance in marriages”.Her position as Mrs SA First Princess, coupled with her new role as a Play Your Part ambassador, means she is well-placed to make an even bigger impact in her chosen field.“Women need to be educated, included socially, have their health made a priority, and also be given a platform economically,” says Olwethu Leshabane.Red WingsIn 2014, Leshabane started The Red Wings Project, an organisation that collects sanitary pads to donate to underprivileged young women.She believes that feminine hygiene should not exclude those who cannot afford it, and hopes to get the government and private business to work hand-in-hand with her organisation to help address the issue.“Women need to be educated, included socially, have their health made a priority, and also be given a platform economically,” she says, further highlighting the need for women to be brought to the forefront of South Africa’s growth.last_img read more

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Facebook: Again, We’re Not Doing a “Facebook Phone”

first_imgsarah perez Related Posts Why IoT Apps are Eating Device Interfaces Tags:#Facebook#mobile#news#NYT#web New rumors about a Facebook-branded phone resurfaced this week. Again, Facebook has shot them down. According to multiplepublications, mobile manufacturer HTC was readying either one or two so-called Facebook phones for launch at next month’s Mobile World Congress event in Barcelona. The smartphones would be the first to display Facebook’s branding and colors, and would offer deep integration with Facebook services.What Was the Rumor?Both BGR and City A.M. published rumors about the upcoming phones, with some hazy details on what the devices would offer. In BGR’s case, the source was a tipster who served on a recent focus group for what he or she believed was a “Facebook phone.” Based on the questions asked during the focus group session, BGR believed the new phone would offer always-on GPS and possibly automatic check-ins, location-aware coupons for Facebook Deals, a ticker-style message notification system on the device’s homescreen and more.City A.M. offered a similar report, noting that the tweaked version of Android on the phones will prominently display Facebook News Feed messages on the homescreen. It would also have integration with Facebook contacts, letting you call or email friends using the contact information they’ve stored on Facebook. City A.M. also identified the manufacturer as HTC.But a Reuters news report from today has squashed these Facebook phone rumors…. yet again. (This isn’t the first time we’ve heard reports of a Facebook-branded device, actually. But last time, the manufacturer was unknown). According to a statement made by Dan Rose, head of business development at Facebook, at a company event in London, “the rumors around there being something more to this HTC device are overblown,” he said. He also flatly denied the phones would support Facebook branding.But HTC is Doing Its Own Facebook Phone?So, wait. Rewind. HTC is launching a phone (or phones) featuring deep Facebook integration?Apparently so. “This is really just another example of a manufacturer who has taken our public APIs (application programing interfaces) and integrated them into their device in an interesting way,” Rose said, which essentially confirms that this device (or devices) do exist and that HTC is behind them.But you just can’t call it a “Facebook phone” because Facebook didn’t make the phone itself. And it’s not blue. And there’s no Facebook logo on it.The phones, the earlier reports say, will be unveiled next month. And both the older and newer reports say that two top-level Facebook engineers, Joe Hewitt and Matthew Papakipos, are involved. We’ll have to wait until next month to find out what the truth is, it seems.center_img What it Takes to Build a Highly Secure FinTech … Role of Mobile App Analytics In-App Engagement The Rise and Rise of Mobile Payment Technologylast_img read more

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How sports can influence kids according to Alyssa Valdez

first_imgSerena may lack intimidation factor when she returns on tour, says Evert ADVT Above everything else, she aims to touch the youth with her talents. Valdez believes that children can learn more than being physically healthy from sports. With the ups and downs and constant learning from mistakes that comes with being involved in a team, kids can learn and put to heart being humble and respectful to the people around them.“More than being physically healthy, which everyone needs, it is important to be mentally and socially healthy as well by interacting and playing with other kids,” Valdez says, “They will learn a lot of the little things — saying thank you and sorry and a lot more.”Despite the very hectic schedule of a phenomenal athlete that goes around the world to compete and around the country to share her passion with children, Alyssa Valdez manages to stay healthy by making sure she eats right and takes FERN-C, the #1 Sodium Ascorbate non-acidic vitamin C in the Philippines, daily to get the daily vitamin boost she needs so that, in confidence, she can say “Tiwala Ako Na Kaya Ko!”Visit for more!ADVERTISEMENT Fire hits houses in Mandaluyong City Read Next MOST READ Protesters burn down Iran consulate in Najaf PLAY LIST 01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games And true enough, she is doing just that.What with the daily grind of an athlete in training for an international competition, you’d think that during her downtime she’d choose to get the relaxation she very well deserves.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutOn the contrary, she spends her spare time going around the country to give back to her fans who have supported her career.“During my off season I make sure to go around the country to meet all the aspiring volleyball players,” Valdez says, “It’s one way of giving back all the blessings and the learnings I’ve got and one way of reminding myself where I came from.” Frontrow holds fun run to raise funds for young cancer patients  LATEST STORIES Nonong Araneta re-elected as PFF president Fire hits houses in Mandaluyong City View comments When on the go Alyssa believes this: “I can do more than what I’m doing right now.”ADVERTISEMENT BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary Typhoon Kammuri accelerates, gains strength en route to PH Don’t miss out on the latest news and information. Brace for potentially devastating typhoon approaching PH – NDRRMClast_img read more

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Jaja Santiago lifts Tornadoes to second victory

first_imgDon’t miss out on the latest news and information. Cayetano dares Lacson, Drilon to take lie-detector test: Wala akong kinita sa SEA Games 1 dead in Cavite blast, fire What ‘missteps’? Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games MOST READ The national team stalwart amassed 35 points to dominate the match as the Tornadoes plucked their second straight win in as many games and hand the Lifesavers their first loss in two starts.Santiago had 30 attack points, two blocks and three aces for Foton, which was still trying to adjust to one another after a major offseason revamp.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSMalditas save PH from shutoutThe Lifesavers snatched the third set on a spike by former Foton gunner Angeli Araneta.“We relaxed in the third set and lost our service receives,” said Santiago. “But in the fourth, we brought our service game back.” WATCH: Firefighters rescue baby seal found in parking garage Heart Evangelista admits she’s pregnant… with chicken Lacson: SEA Games fund put in foundation like ‘Napoles case’ Ravena relishes chance to join SEAG-bound Gilas roster LATEST STORIES Jaja Santiago. CONTRIBUTED PHOTOThere’s no stopping Jaja Santiago Saturday night.The talented, 6-foot-5 utility hitter led Foton to a 25-20, 25-23, 23-25, 25-15 victory over Generika-Ayala in the Philippine Superliga All Filipino Conference at Filoil Flying V Centre in San Juan.ADVERTISEMENT Heart Evangelista admits she’s pregnant… with chicken World’s 50 Best Restaurants launches new drinking and dining guide Sports Related Videospowered by AdSparcRead Next View commentslast_img read more

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