Johnson to woo businesses with extensive tax breaks

first_imgJohnson’s pitch is to relieve the burden on businesses. As part of his plans, business rates would undergo a “fundamental review”. He will say that leaving the European Union with a deal will mean businesses can focus on “spurring innovation, creating jobs, stimulating growth”. Many in the business community have been skeptical of Johnson’s commitment to corporate Britain since he was reported to have said “f*ck business” when asked about industry concerns over Brexit. Johnson will say today: “Let’s not beat around the bush, big business didn’t want Brexit. You made that clear in 2016 and this body said it louder than any other.” Labour leader Jeremy Corbyn is also speaking at the CBI conference. He could be in for a frosty reception after his plans to nationalise internet provider BT Openreach went down badly in the City. Read more: Boris Johnson’s Conservative party opens up 17-point poll lead Boris Johnson to woo businesses with extensive tax breaks He will also promise to reduce business rates, cut taxes on the construction industry, and review research and development tax credits. whatsapp Harry Robertson MANCHESTER, ENGLAND – NOVEMBER 15: Prime Minister Boris Johnson addresses his supporters prior to boarding his General Election campaign trail bus on November 15, 2019 in Manchester, England. (Photo by Frank Augstein-WPA Pool/Getty Images) Prime Minister Boris Johnson will today offer British companies a series of tax cuts and breaks as he seeks to mend his relationship with the country’s firms. He will unveil plans to create a “climate apprenticeship programme” that Labour say will deliver 320,000 apprenticeships in England during its first term in government. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyMisterStoryWoman files for divorce after seeing this photoMisterStoryzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past Factorybonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamaNinjaJournalistMichael Jordan’s Divorce Settlement Has Finally Been Revealed.NinjaJournalist “But what is also clear is that what you want now – and have wanted for some time – is certainty.” whatsapp Read more: Jennifer Arcuri blasts Boris Johnson for treating her like a ‘one night stand’ In a speech to the annual CBI conference in London Johnson will pledge to cut the taxes of more than half a million smaller businesses by raising the national insurance allowance from £3,000 to £4,000. (Image credit: Getty) Tax relief on the purchase, building or leasing of a structure would be increased by one per cent. The Conservatives would also review the scope of R&D tax credits and increase the rate by one per cent, Johnson will say. Share Corbyn is set to focus on reforming the apprenticeship levy, a concern of businesses, and tackling climate change. Monday 18 November 2019 8:29 am More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comConnecticut man dies after crashing Harley into live bearnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comlast_img read more

Man in bear costume reported harassing bears on Chilkoot River

first_imgShare this story: Public Safety | Southeast | WildlifeMan in bear costume reported harassing bears on Chilkoot RiverAugust 13, 2015 by Emily Files, KHNS Share:A brown bear sow with two cubs crossing the Resurrection River near mile 3 of the Seward Highway. Seward, Kenai Peninsula, Alaska. (Photo by Dan Logan/ Flickr CC)A man dressed in a bear costume was reported to state troopers this week for harassing a sow and bear cubs on the Chilkoot River.Mark Sogge with the Alaska Department of Fish & Game in Haines says their Chilkoot Lake weir technician witnessed and wrote a report about the incident.Technician Lou Cenicola reported that around 7:30 p.m. Monday, a man in a “realistic-looking” bear costume ran through a group of people standing on the side of the road bear-watching. The man ran “waving and jumping” up to the weir gate, trying to get the attention of a sow with cubs. Cenicola says the man in the costume got within 5-10 feet of the cubs.Cenicola reported that he ran toward the man to stop him, telling him he could be cited for wildlife harassment. The man then left without identifying himself. Sogge says Cenicola did get the man’s license plate number, and Fish & Game reported the incident to state troopers.Troopers Spokesperson Megan Peters says they know about the incident and are investigating. No charges have been filed.Sogge says getting that close to bear cubs when their mother is present could have ended tragically. He says wearing a bear costume will not deter a mother bear from attacking a person if she thinks her cubs are threatened.last_img read more

Genel planning to invest more in Kurdistan oil

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapWatch President Biden Do Battle With a Cicada: ‘It Got Me’ (Video)The WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap Express KCS by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesGameday NewsNBA Wife Turns Heads Wherever She GoesGameday Newszenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirror whatsapp Genel planning to invest more in Kurdistan oil Sharecenter_img Friday 7 August 2015 4:46 am whatsapp Show Comments ▼ GENEL Energy’s shares took a hammering yesterday as the company reported that profit had more than halved in the six months to 30 June.The share price dropped by over 10 per cent at one stage, and closed down by 12.91 per cent at 379.50p. The Kurdistan-focused oil company’s pre-tax profit dropped to £31.4m in the first half of the year, down from £70.7m, despite revenue growing from £192.1m to £199.3m.Production was up during the period, climbing from 63,000 barrels of oil equivalent per day (boepd) to 88,800 boepd.Genel boss Murat Ozgul said the firm’s operating performance during the first half was “strong”, and highlighted the announcement made by the Kurdistan Regional Government (KRG) on Monday, in which it made a public commitment to pay international oil companies on a sustainable basis from September.“These regular and predictable payments will allow Genel to fully capitalise on our strategic opportunities,” Ozgul added. “We remain committed to the Kurdistan Region of Iraq and will continue to invest in our existing oil fields while moving our major gas fields forward to development, creating significant value for both Genel and the KRG.” Tags: NULLlast_img read more

News / Carriers ditch constant chase for market share in a quest for profits

first_img Zim’s return to the black in Q2, the carrier’s first net profit since Q317, confirms a trend of container lines giving up their chase for market share in favour of profitability, according to analyst Lars Jensen.“Zim has followed the path of trading lower market share for improved yield,” he said.The Israeli carrier posted a Q2 net profit of $5m, despite a year-on-year volume decrease of 5.3%.  But its liftings consisted of better-paying cargo, evidenced by average rates per teu jumping 9.5%.“The results from Zim reaffirm a trend we have been seeing from a number of carriers. In a low-growth market, possibly verging on recession, this is an eminently sensible approach,” said Mr Jensen.He added that Zim attributing its recovery in part to its extended cooperation with the 2M alliance was also significant.“It underscores the development in the deepsea markets that , to be successful in these commoditised trades, you must have scale – not just in terms of vessel size, but also in frequency.”With the Q2/H1 reporting season almost complete, with only CMA CGM and Cosco of the carriers that report their results still to come, there are signs that carriers are indeed adopting a “more sensible approach” in their growth strategies.“The real litmus test for all the carriers pursuing this approach,” said Mr Jensen, “will be whether they are able to maintain capacity discipline in the face of negative volume development when a recession hits. Will they pull out vessels sufficiently quickly to prevent a sharp drop in rates?”Meanwhile, commenting on the Zim results, Alphaliner noted that despite the return to profitability, the carrier’s shareholder equity remained in deficit to the tune of $256m at the end of June.“Since 2018, Zim has recorded cumulative net losses of $2.59bn,” added the consultant. By Mike Wackett 29/08/2019last_img read more

News / Cargo performance attracts new focus from Cathay Pacific management

first_img The continued lack of demand for passenger services has prompted a renewed focus on cargo at Cathay Pacific – but forwarders are still tackling high rates amid a slow market recovery.According to Cathay chief customer and commercial officer Ronald Lam, the Hong Kong-based airline operated just 4% of normal flight capacity in June, up slightly on April and May, but with services still heavily constrained by border restrictions and quarantine measures.Mr Lam has said he expects Cathay to operate 10% of overall capacity this month, 7% in July, with the airline issuing a profit warning in anticipation of a “substantial loss” of about HK$9.9bn (US$1.27bn) for the first half of 2020.The carrier announced a recapitalisation plan of HK$39bn from the government and shareholders, which Mr Lam said would allow it to maintain competitiveness. By Sam Whelan 11/08/2020 “Cargo performance, however, remains strong,” he said in a message to customers on Friday.“Our freighters continue to operate around the clock and we have been using our passenger aircraft to operate thousands of cargo-only flights to keep supply chains moving and deliver essential medical and consumer supplies.The airline has also been able to dip into the charter market, for example, providing a 747 freighter for CH Robinson to transport PPE into Melbourne.“While Cathay Pacific Cargo runs a full freighter schedule, it does sometimes have the capacity to offer its aircraft to the charter market for customers who have big-volume, outsized or very urgent shipments that need to go somewhere fast, and possibly off the network,” the carrier explained.The airline is also putting greater focus on cargo from a management perspective.“Cargo continues to be a vital part of our business; ever more so in this operating environment,” noted Mr Lam. “We are therefore re-establishing a dedicated Director Cargo position on our senior leadership team as we aim to become the most customer-centric air cargo services provider in the world.”Meanwhile, airfreight forwarders are expecting a slow and gradual recovery for the remainder of the year.“The worst pressure on space is over, due to the natural decline in PPE volumes, however in selected corridors space remains scarce,” according to Scan Global Logistics.For example, Scan said the demand for PPE in the US and Latin America is still high, and therefore rates ex-Asia to North and South America remain higher than normal.“However, a moderate decline in rate levels is apparent on the majority of other trades. With this said, freight rates remain significantly higher than 2019.”The forwarder said demand was expected to be moderate in the third quarter, going into Q4, with an uptick when new product launches from tech giants such as Apple resume and “take up a lion’s share” of capacity.last_img read more

The story of Cholmely Harrison and how Emo Court came into state ownership

first_img“But the speed with which the key to Emo Court was symbolically handed over to President Mary Robinson on behalf of the state belied its significance.“The unique and impressive Gandon-designed ediface and its idyllic gardens were formally accepted on behalf of the people of Ireland by the President and the property represents a major acquisition by the Office of Public Works (OPW) and a significant addition to its heritage portfolio.”Cholmeley Harrison had bought Emo Court in 1969 from the Jesuit Order for £42,000, who had owned it since 1929. It was a base for their novice priests.Born in Kent in England in 1908, Harrison was educated in Cambridge and went on to become a member of the London Stock Exchange in 1938 where he earned his living right up until the 1970s. He also served as a Major in the Royal Marines during World War 2.In 1931, Cholmeley-Harrison married Barbara Mary Corisande, a daughter of Lord Bellew of Meath. The couple had three daughters, but were divorced in 1948. At the end of the war, in 1945, he moved to Ireland, acquiring Woodstown House in Waterford which was a Regency villa overlooking Waterford Harbour.In the summer of 1967, Cholmeley-Harrison rented Woodstown to Mrs Jacqueline Kennedy, widow of US President John F Kennedy, and her family. However, such was the intrusion to his privacy as a result, he decided to sell the house and he acquired Emo Court.The house, though, needed plenty of attention but Cholmeley-Harrison dedicated years to the project – and at considerable cost – under the guidance of Sir Albert Richardson and Partners of London.According to the architectural historian Mark Bench-Jones, he “restored and redecorated the house most sympathetically” and “furnished it with great taste and splendour”.Emo Court was designed by the great Georgian architect James Gandon and was built in the “monumental style” of the Custom House in Dublin, beginning in 1790, for the first Earl of Portarlington who was instrumental in bringing Gandon to Ireland.The Earl died before it was finished, the second Earl had no money and so it was left to the third Earl to complete the job.According to Bench-Jones, “Emo Court only came into its own post 1969” when Cholmeley-Harrison acquired it and completed some of the work originally planned by Gandon. And when he finished the house, he turned his attention to the gardens.He was well-respected in the Emo area and provided much employment on the grounds though the Irish Times obituary on his death noted that “he was meticulous and very strict as to how the work should be carried out”.Initially the public were able to pay a fee to visit the gardens on a Sunday but in 1994, he took the decision to hand over the property to the state. Tours of the house then became popular while various walking routes – including a very scenic one around the lake – were developed and are hugely popular.Cholmeley-Harrison continued to live in an apartment on the site up until his death, just shy of his 100th birthday in 2008. He regularly attended the nearby church at Coolbanagher where he was also generous with his gifts.“The future of Emo, he felt, would be secure only if it was in State ownership and though the OPW, for lack of funds, was initially reluctant to take it over, he persisted and in 1994 he handed the house and grounds to the State, with the proviso that he could remain in an apartment there for the rest of his life,” added the Irish Times.On the day of the handing over ceremony, then aged 87, his speech was short and sweet.“I give to you, and through you to the people of Ireland, Emo Court, its contents and gardens, which is all I have to say,” was his quick few words.According to John Whelan’s report of the event, President Robinson “enthusiastically applauded Mr Cholmeley-Harrison for his generosity” and “was confident that Emo Court would represent the start of a regeneration for the entire area”.“She said that its acquisition by the OPW fitted into a broader strategy which was now fully appreciating the significance and importance of such heritage sites as Heywood, Birr, Roscrea and Kilkenny.“She spoke of the extraordinary and compelling power of such a property which had the capacity to greatly enhance the lives of all those in the community.“It was not until recently, the President said, that we have come to fully appreciate the significance of such heritage monuments as Emo Court which had an important role to play in today’s society as they draw in visitors, created employment and regenerated the community.”“I can assure Mr Cholmeley-Harrison that Emo Court is in very safe hands with the Office of Public Works,” she said.“I myself look forward to getting back here and rambling around and enjoying the house and gardens which are now a resource for the people of Ireland. We are most grateful for your dedication and generosity.”Among those in attendance on that September day were students from Emo and Killenard National Schools and guests from the community and invited dignatories.“The Earl of Rosse from Birr, Desmond Fitzgerald, the Knight of Glin and the Georgian Society and Mr Cholmeley-Harrison’s daughters – Caroline, the Countess of Inchape, and Charlotte Marsh – were also in attendance.”SEE ALSO – Weekend Read: Laois and midlands crying out for camping facilities Pinterest By Steven Miller – 5th April 2021 Facebook Twitter Previous articleLaois Hurling Memory: Offaly, the side netting and last-minute winner in 1981Next articleJohn Whelan: Celebrating the great Jim Yorke, a photographer who excelled in a different era Steven Millerhttp://www.laoistoday.ieSteven Miller is owner and managing editor of From Laois, Steven studied Journalism in DCU and has 14 years experience in the media, almost 10 of those in an editorial role. Husband of Emily, father of William and Lillian, he’s happiest when he’s telling stories or kicking a point. Electric Picnic apply to Laois County Council for new date for this year’s festival Home News Community The story of Cholmely Harrison and how Emo Court came into state… NewsCommunity Twitter Council RELATED ARTICLESMORE FROM AUTHOR Facebook Prior to that, the deal to bring the estate under the care of the Office of Public Works was negotiated by a certain Phil Hogan, then the Minister for State with responsibility for the OPW.The house and its 250 acres, including agricultural land, gardens, woodland and lake was handed over to the state on a part donation, part sale basis.“It is our intention to complete the restoration work on the house and gardens and have it open for as much access to the public as possible,” an OPW spokesperson said in mid January 1995 when John Whelan broke the story on the front page of the Leinster Express. And the story got significant coverage when the official duties took place in the autumn of that year.“It was a simple ceremony, over in seconds,” wrote John Whelan, in the first line on his report of the occasion. Emo Court This piece originally appeared on LaoisToday last September to make the 25th anniversary of Emo Court coming into state ownership.It’s arguably the most popular public attraction in Laois and last week was the 25th anniversary of Emo Court coming into state ownership.On September 27 1995, Emo Court was handed over to the state by its then owner Cholmeley Harrison. President Mary Robinson was on hand to accept it a ceremony on the grounds. Michael D Higgins – then the Minister for Arts, Culture and the Gaeltacht – was due to attend also, though had to withdraw at late notice. WhatsApp Electric Picnic organisers release statement following confirmation of new festival date TAGS1995Cholmelely-HarrisonEmo Court Electric Picnic Pinterest Electric Picnic The story of Cholmely Harrison and how Emo Court came into state ownership WhatsApp Mary Sweeney elected Cathaoirleach of Portlaoise Municipal District for next 12 monthslast_img read more

OSC settles allegations of trading misconduct

first_img PwC alleges deleted emails, unusual transactions in Bridging Finance case BFI investors plead for firm’s sale High angle view of mallet eyeglasses legal book in courtroom andreypopov/123RF A corporate director has agreed to sanctions after admitting to violating securities rules by twice selling shares in the company where he served as a director ahead of a planned offering.The Ontario Securities Commission (OSC) approved a settlement with Martin Bernholtz, a former director with Titan Medical Inc., which will see him make a $225,000 voluntary payment after he admitted to violating the public interest. Bernholtz will also pay $75,000 in costs, and accept a seven-year ban on serving as a director and a three-year trading ban. According to the settlement, in 2016 Bernholtz twice sold shares of Titan ahead of planned public offerings by the firm.“Had Mr. Bernholtz not sold the shares in advance of the announcements, those shares would have been worth, in total, approximately $133,000 less in the days following the two announcements,” the OSC hearing panel noted in its reasons.It also found that the trading violated the firm’s insider trading policy.According to the settlement, Bernholtz “sold the Titan shares to permit him to buy into the offerings to show support for Titan but did not sufficiently consider the risks of selling in the circumstances.”The settlement noted that he acknowledged he should have complied with the company’s insider trading policy. He accepted that “the more prudent course of conduct would have been to not trade Titan securities in advance of the [offerings],” it said. James Langton Mouth mechanic turned market manipulator Keywords EnforcementCompanies Ontario Securities Commission Share this article and your comments with peers on social media Related news Facebook LinkedIn Twitterlast_img read more

MX consults on investigative powers

first_img Mouth mechanic turned market manipulator Related news Share this article and your comments with peers on social media tax inspector investigating financial documents through magnifying glass, forensic accounting or financial forensics, inspecting offshore company financial papers, documents and reports. 123RF The Bourse de Montréal Inc. (MX) is launching a consultation on rule changes that aim to more clearly set out its investigative process.The exchange’s regulatory division has published a set of proposals designed to improve the fairness, efficiency and transparency of its investigations by spelling out its procedures directly in the rules. BFI investors plead for firm’s sale Among other things, the proposals set out the powers of the regulatory division when conducting an investigation. They also detail the rights and obligations of the anyone who receives an information request as part of a regulatory investigation.Currently, the rules include provisions that enumerate some of the regulatory division’s powers and cover the general obligations of respondents during an investigation.The MX said that it has received questions from the industry seeking clarity on these issues, so it’s now seeking to detail them more clearly.The proposals are out for comment until July 31. James Langton Keywords EnforcementCompanies Montreal Exchange PwC alleges deleted emails, unusual transactions in Bridging Finance case Facebook LinkedIn Twitterlast_img read more

UK retailer GAME keeping its Belong arenas open for now

first_imgUK retailer GAME keeping its Belong arenas open for nowUpdate: Retailer has now decided to close them until further noticeRebekah ValentineSenior Staff WriterMonday 23rd March 2020Share this article Recommend Tweet ShareOriginal story, March 18, 2020: UK gaming retailer GAME is keeping its physical store locations open for the time being, and has outlined the precautions it is taking against the spread of the novel coronavirus (COVID-19).The company has said it is providing hand sanitizer in all stores, and that it is instructing employees to clean all surfaces “regularly.”This includes the gaming stations in its Arenas, which GAME says are being fully cleaned after each use. Additionally, empty stations between players or groups are being left “where possible.”Both Arenas and regular retail stores are remaining open, but Game says it may have to vary opening times or close individual locations due to staff availability.Finally, Game has cancelled and postponed various tournaments and events across its Arena locations.Meanwhile, US gaming retailer GameStop has cancelled all its upcoming in-store events and shut down in-store gaming stations, but employees have expressed concerns that they are not being supplied sufficient cleaning products, and are being forced to use existing personal, vacation, or sick leave if ill despite the pandemic.Update, March 20, 2020: Game’s decision to remain open is “having a huge human impact” on its employees, according to one manger. Speaking with Eurogamer, an anonymous manager working for Game said staff are either having to remain at home and lose money, or go to work and risk infection of spreading the virus. “Staff are being put under immense stress as we are all worried about loss of earnings,” they said. “Obviously we don’t want to spread the virus if anyone comes down with symptoms but we are equally worried about how we are going to get by. We want to share our passion for some great releases but we’re worried about what that could mean for our health.”Staff who follow government advice to self-isolate will be entitled to statutory sick pay, which is just £94.25 per week; for context, the average price of a one bedroom flat in the UK is around £600 a month. “Many are having to grapple with the idea of staying at home and losing all income, or coming in with symptoms and risking spreading the virus because they can’t afford to self-isolate,” said one worker. The state of UK retail is already a precarious one, and earlier this year Game announced plans to close 40 stores across the country. Update, March 23, 2020: This weekend, GAME announced it has closed its Belong arenas until further notice.Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games In a statement, the retailer said the decision followed the Government’s latest measures to tackle the spread of coronavirus.”Although this is extremely disappointing, the welfare of our employees, players and communities is paramount, and we recognise that these new measures help protect that,” the company wrote.Game is working with publishers to arrange free online activities and tournaments to replace events that would have been held in Belong arenas.Additional reporting by Haydn Taylor and James BatchelorCelebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Publishing & Retail newsletter and get the best of in your inbox. Enter your email addressMore storiesResident Evil: Village is the third biggest PS5 launch so far | UK Boxed ChartsBut physical sales down over previous Resident Evil gamesBy Christopher Dring YesterdayEpic reportedly offered $200m to Sony for PlayStation exclusivesThe firm also reportedly started discussions with Microsoft and noted that securing first-party Nintendo games would be a “moonshot”By Marie Dealessandri YesterdayLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

Nigeria: high tariff not reflective of power supply

first_img Low carbon, solar future could increase jobs in the future – SAPVIA Finance and Policy BRICS RELATED ARTICLESMORE FROM AUTHOR Generation Previous articleHigh cost of a Kaplan turbine project: The ‘whys’ explainedNext articleEgypt: 4.8GW added to national grid Ashley TheronAshley Theron-Ord is based in Cape Town, South Africa at Clarion Events-Africa. She is the Senior Content Producer across media brands including ESI Africa, Smart Energy International, Power Engineering International and Mining Review Africa. Featured image: Stock An official at the Nigeria Electricity Regulatory Commission (NERC), has stressed that the proposed tariff hike will not secure a reliable power supply.NERC’s Head of Public Affairs, Dr. Usman Abba Arabi, explained that the commission was empowered under the EPSR Act to provide a cost reflective tariff, the Guardian reported.He said that tariff increase would be implemented at “an appropriate time to ensure that the electricity market remains operational,” media reported.Arabi said: “The NERC has never stated that only an increase in electricity tariff would guarantee a steady power supply in the country.“The commission’s position had been that a review was necessary due to the economic recession in the country.”Challenges affecting power supplyAccording to the official, the lack of payments received from electricity distribution companies (DISCO), and the multiple restraining court orders, placed constraints on the commission, the Guardian reported.He added that the court orders also limit the Nigerian Bulk Electricity Trading Company from enforcing the market rules on Discos and other operators, media said.The Guardian said: “Arabi explained that the other factors affecting electricity supply in the country include the inflation rate of 18.55%, the exchange rate of the naira per dollar and the current electricity generation of 4,000MW.”Workers protest against ministry decisionsIn other news, The Guardian reported that a protest broke out yesterday outside of the Ministry of Power, Works and Housing and the Transmission Company of Nigeria (TCN).According to media, members of the Senior Staff Association and Allied Electricity Company (SSAAEC) and the National Union of Electricity Employees (NUEE), were protesting against the Minister’s plans to remove TCN’s managing director, Atiku Abubakar, and replace him with Usman Gor Mohammed, who is currently on the employment of the African Development Bank. AFD and Eskom commit to a competitive electricity sector UNDP China, CCIEE launch report to facilitate low-carbon developmentlast_img read more