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September 4, 2021

Avoiding the financial perils of divorce

Avoiding the financial perils of divorce Protect your credit scoreYou might be surprised at how many financial products and agreements you share with your ex-partner.“The longer you have been together, the more tightly wound up even your basic finances will be,” says Zurich’s partnerships boss.Once you divorce, you will therefore need to build up your own credit report. Make sure you look at your independent score, and improve it if you need to, so you don’t get turned down for any future loans.Think about your pension   If your marriage has broken down, the emotional strain can take its toll. But splitting your finances can make the divorce process a lot tougher.Last year, the number of divorces among opposite sex couples increased by 5.8 per cent compared to 2015, according to figures from the Office for National Statistics. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHistory 10Vintage Toys That Can Be Worth ThousandsHistory 10UndoArticles SkillWorkers Uncovered A Secret Under The Washington MonumentArticles SkillUndoSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictUndoAuto carTop 5 best grand tourers 2021 | AutocarAuto carUndoBedtimezBaby Keeps Waking Up With Scratches, Mom Checks Camera And Makes A Phone CallBedtimezUndoHealthline: Medical information and health adviceAvoid These Bad Sleep Habits For A Better Night’s RestHealthline: Medical information and health adviceUndoHealthy GeorgeRobert Redford’s Daughter Is Probably The Most Beautiful Girl In The WorldHealthy GeorgeUndoDaily Finance StoriesRemember Monica Lewinsky? Take A Look At Her Net Worth At Age 47Daily Finance StoriesUndoFitSavage10 Stretches You Can Do at Home to Lose WeightFitSavageUndo But worryingly, stats from insurer Zurich indicate that adults who are divorced are twice as likely to have no savings or investments compared to those who are married.From a legal perspective, the divorce process is fairly straightforward, says Wendy Hopkins, head of family law at Gordon Dadds.“The law is quite simple in the sense that it deals with the income and housing needs of the person who is needy; it actually divides things equally, unless there is such a huge issue in which case a representation is made as to the inequality of contributions.”Hopkins says you should try to reach some kind of outline agreement with your spouse early on in the divorce process. Of course, emotions often run high, and if an agreement can’t be reached, it’s sensible to find a solicitor who can be objective on your behalf, she adds.While some people will hire expensive lawyers to go down the standard litigation route through the court, there are other ways you can save yourself from this huge cost burden by opting for mediation or collaborative law routes instead. whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comMan on bail for murder arrested after pet tiger escapes Houston If you are going through a divorce, thinking about your pension is probably going to be the last thing on your mind. However, consider that after property, the pension fund built up by one or both partners is often the second largest financial asset owned by a married couple.With such a huge asset at stake, it’s crucial to consider how this will be divided.Currie says it’s important that the fund is split fairly. This is particularly the case for women who depend on their husband’s provisions. Women are still more likely to be paid less than men and are more likely to take career breaks, which means there is a gap between the amount men and women receive in employer pension contributions. This could lead to a huge shortfall by the end of a woman’s working life.Where the main pension holder and breadwinner is the husband, ex-wives are often awarded a one-off lump sum or matrimonial home to manage. But the Fidelity director says substituting a regular pension income for a house might not be the wisest move given the volatility of property prices.“There are various ways of splitting a pension, and it’s important that you understand each of the options available, along with the repercussions they could have on the financial situation going forward.”It’s also worth contacting your pension provider to find out what you could be entitled to, and to make any necessary changes to payments into your pension fund.Don’t neglect protectionLife insurance is designed to give your loved ones a financial safety net if you die. But if you divorce, it’s unlikely you’ll want your ex-spouse to get a cash lump sum on your death, so make sure you check the policy terms of your life insurance cover.Some “joint life” policies include a separation option, which means that the contract can be amended to cover both parties individually.Hamilton points out that many policies also include options which allow you to increase the amount of cover you have following life events, including divorce or separation, without needing further underwriting.Taxing issuesIf you are married or in a civil partnership, you can transfer assets between you without being hit by capital gains tax (CGT). Of course, the same tax relief does not apply if you are divorced, but you have a window of time to make any adjustments to an investment portfolio.If you and your spouse have lived together, you can transfer assets between you at any time in that tax year without incurring a CGT charge.So if you’re splitting up with your partner, make sure you transfer any assets within the same tax year that you separate in order to avoid a capital gains tax liability, Currie warns, adding: “leave it too late and you will face a tax charge.”Willing to changeAny will you had in place prior to getting hitched becomes null and void. But the same rule does not apply when you divorce.This means that your existing will is unlikely to be appropriate to your new circumstances. Therefore make sure you update your will as soon as possible to ensure that your wishes will be carried out when you die.Hamilton says the first step in this process is to consider what assets are yours to pass down, and then to decide how you want these to be distributed. You might, for example, have a new partner you want to include.Splitting your assets might not be at the top of your agenda during this difficult period, but it’s important not to overlook any of these elements, because they could affect your financial security going forward.There’s no doubt that divorce can be a long and painful process. Don’t make it harder for yourself by not getting your finances in order. Katherine Denham Here are some other steps you can take to avoid a financial sting in the tail as you go through the divorce process.Seek closureFirst, you should close any joint accounts and open new ones in your name. Not doing this could complicate matters, or could even lead to your ex-spouse using your savings, warns Peter Hamilton, head of strategic partnerships at Zurich.But unravelling the various savings and investments you both hold can be tricky. Maike Currie, investment director for personal investing at Fidelity, points out that you can incur charges by selling your joint holdings and sharing the proceeds. And, of course, you incur costs again when you come to reinvest your share.However, on a positive note, Currie says this gives you an opportunity to reassess and rebalance your savings and investments. Share Wednesday 29 November 2017 12:25 pm whatsapp read more

September 4, 2021

City Moves for 17 May – Who’s switching jobs at Capital One, Project Etopia and Investcloud?

first_img City Moves whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm Oraclebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStoryPost FunThe Deadliest Snakes Ever Found On The PlanetPost Fun Today’s City Moves includes Capital One, Project Etopia and Investcloud.Capital OneCapital One UK has announced the appointment of Helene Brichet as UK chief financial officer. Helene has spent over 20 years in the financial services sector working in senior leadership positions for international organisations. She joins Capital One from EVO Payments, where she was chief financial officer of Europe with responsibility for improving the financial management of its operations across eight countries. She spent over 16 years at Visa Europe in various senior finance and commercial roles, including as head of corporate strategy and most recently as head of strategic partners and corporate development. Helene has also served as group financial controller at Barclays and started her career at PwC in financial audit. She graduated from the London School of Economics and holds an MBA from EDHEC Business School. Helene joins Capital One effective immediately.Project Etopia More From Our Partners Man on bail for murder arrested after pet tiger escapes Houston homethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comColin Kaepernick to publish book on abolishing the policethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Modular house builder Project Etopia’s main investor Lord Stanley Fink has joined the firm’s board as its chairman in a declaration of intent over the future of the company. The move signals Lord Fink’s determination to help drive the developer forward with co-founder Joseph Daniels after the firm passed a number of key milestones in recent months. The new hands-on role for former Conservative party treasurer Lord Fink — until recently chairman of investment manager ISAM Europe — will help the company achieve its growth ambitions as an off-site construction specialist.InvestcloudWill Bailey has been appointed as chief strategy officer at global fintech firm Investcloud, with a focus on product expansion. The newly-created role will see Will head up development on emerging product initiatives. This includes leading a strategic product team to apply the latest technology – from augmented intelligence to machine learning – across functions such as financial planning, client relationship management, and financial literacy. He will also take on the role of a client advisor, providing strategic support to Investcloud clients. Will, a member of the Investcloud team since the company’s founding in 2010, will relocate from the London office to San Francisco, where his knowledge of the Bay Area and technology expertise will provide important perspective for the role. Previously, Will led Investcloud’s Europe, Middle East and Africa expansion as executive vice president of Europe and innovation. He will work alongside other executive team members globally to shape the Investcloud business, product strategy and support the firm’s growth. center_img City Moves for 17 May – Who’s switching jobs at Capital One, Project Etopia and Investcloud? Share Friday 17 May 2019 12:13 am Tags: City Moves whatsapplast_img read more

September 4, 2021

Irish central bank: No-deal Brexit would see growth plummet

first_img The Central Bank of Ireland has warned that a no-deal Brexit could shatter the country’s economic growth and cost its economy 34,000 jobs. A shopper passes the Central Bank of Ireland headquarters in Dublin on December 11, 2013. Ireland takes a major step on December 15, 2013 when it becomes the first rescused eurozone country to exit a bailout programme but the path to full recovery remains littered with challenges. AFP PHOTO / PETER MUHLY (Photo credit should read PETER MUHLY/AFP/Getty Images) Read more: Growth falters as UK house prices stuck in ‘Brexit limbo’ whatsapp Irish central bank: No-deal Brexit would see growth plummet (Image credit: Getty) “Exports would fall due to an immediate and large reduction in demand from the UK.” “As a result,” it said, “by the end of 2020 our estimates suggest that there would be around 34,000 fewer jobs in the economy compared to the level of employment that could be realised in a no-Brexit scenario.” Read more: Boris Johnson visits Northern Ireland for talks to resolve power-sharing agreement The Bank said there would be “heightened stress in financial markets” and “disruption at ports and airports as border infrastructure is unable to cope with the new customs requirements”. In its quarterly bulletin the Bank said growth in a no-deal scenario would be just 0.7 per cent in 2020, compared to 4.1 per cent if Brexit did not happen.center_img Harry Robertson A Number 10 spokesperson said Johnson’s “clear preference is to leave the EU with a deal, but it must be one that abolishes the backstop”, a device which seeks to prevent a hard border returning to the island of Ireland. Wednesday 31 July 2019 11:55 am Share The warning comes as new prime minister Boris Johnson ramps up preparation for a no-deal Brexit in an attempt to force the European Union back to the negotiation table by scaring them with the prospect. Ireland – whose GDP was £324bn in 2018 according to official figures – stands to lose the most out of the EU states from a no-deal Brexit. Yesterday Johnson told Irish Prime Minister Leo Varadkar on a phone call that Britain will leave the EU on 31 October “no matter what”. whatsapp Yet Varadkar yesterday restated the EU’s position that it will not re-open the deal it struck with Theresa May’s government, leaving the two sides at loggerheads as time runs out. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orglast_img read more

July 4, 2021

News / Shippers hit lack of port workers and containers as lines add congestion surcharges

first_img By Mike Wackett 03/11/2020 Shippers around the world face huge supply chain challenges from port congestion and an acute shortage of containers.And one carrier source The Loadstar spoke to today said the problems “will get worse”.“There are so many pinch points building now and they will only get worse before the holiday season and may well run until Chinese New Year [in February],” he warned.The New Zealand port of Auckland is the latest in a long line of container hubs to see its shipping community slapped with a port congestion surcharge.MSC said today that, effective a B/L date of 9 November, it would impose a $300 per teu congestion surcharge on all imports to Auckland from Europe, Turkey and Israel, and imports from China, Japan and South-east Asia, although this has been labelled as a PSS (peak season surcharge).“Delays and wait times for vessels to berth in Auckland are being reported between 10 to 13 days,” said MSC. “The congestion is due to a lack of workers,” claimed the carrier.The action by MSC follows months of crisis at the North Island port, partly attributed to a stronger-than-expected peak season, which has caused disruption at many ports around the world after the sudden contraction in demand at the beginning of the pandemic.Australian ports are suffering from a huge build-up of empty containers, estimated in excess of 50,000, particularly at Sydney where recent industrial action has hit repositioning of equipment to Asia.Shipowner and vessel operator industry body Shipping Australia said that, while some of its members were looking at the option of using sweeper vessels to help evacuate boxes, issues with berthing congestion, compounded by the scarcity of ad hoc charter vessels, were hindering these efforts.And Hapag-Lloyd, the first transpacific line to suspend bookings of agricultural products from North America in order to reposition equipment to the more lucrative Asian export market, said the entire industry was facing an “historic challenge” for its container control systems.According to its director of global container logistics, Nico Hecker, container availability and utilisation across its network is coming under “enormous and unprecedented pressure”.He said: “We are currently seeing a ‘black swan’ event and experiencing the strongest increase in 40ft demand, following one of the strongest decreases in demand ever. Both happening within just six months.”Mr Hecker added that it was “hard to believe” that in early July the carrier had some 600,000 teu of empty equipment, for which it was seeking cheap storage, whereas the current 350,000 teu empty fleet – classified as “sitting on the ground” – would “hardly cover two weeks of export volumes”.Apart from looking at every opportunity to either purchase or lease equipment – the leasing market is currently ‘sold out’ – the carrier is also reducing the number of days shippers can pick up containers for export loading, said Mr Hecker.“We have to reduce empty idle times, which means that the container availability for exporters is now seven to eight days before the ship arrives.” Photo 66271833 © Rafael Ben Ari – Dreamstime.comlast_img read more

June 23, 2021

One foot out the door, Medicare chief launches Twitter barrage to defend the ACA

first_img About the Author Reprints STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Log In | Learn More What is it? What’s included? One foot out the door, Medicare chief launches Twitter barrage to defend the ACA @RachelHBluth Tags insuranceMedicaidMedicarepolicy GET STARTEDcenter_img Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED By Rachel Bluth — California Healthline Jan. 19, 2017 Reprints Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Politics Rachel Bluth — California Healthline Andy Slavitt, outgoing head of the Centers for Medicare and Medicaid Services. Andrew Harnik/AP Government bureaucrats are not often Twitter celebrities. But Andy Slavitt, head of the agency that runs Medicare and Medicaid, is making a name for himself with a barrage of fiery tweets in defense of the Affordable Care Act, breaking with the traditionally mute posture taken by federal employees.As the Act — known as Obamacare — is coming under attack by the new Republican-controlled Congress and incoming Trump administration, Slavitt, acting administrator of the Centers for Medicare & Medicaid Services, isn’t being shy online.last_img read more

June 20, 2021

All of Monday evening’s Laois GAA results as Barrowhouse take step closer to promotion

first_img Community WhatsApp Pinterest TAGSBarrowhouse Facebook RELATED ARTICLESMORE FROM AUTHOR Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ Community Rugby Five Laois monuments to receive almost €200,000 in government funding Ten Laois based players named on Leinster rugby U-18 girls squad Twittercenter_img Pinterest By Steven Miller – 18th June 2018 Previous articleLeinster Final Memory: Dublin deny Laois in ’85Next articleREVEALED: Selection committee to find next Laois hurling manager confirmed 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. All of Monday evening’s Laois GAA results as Barrowhouse take step closer to promotion Midlands Park Hotel Under-15 Football League Division 1Graiguecullen V Portarlington 6.30pmSEE ALSO – Leinster Final Memory: Dublin deny Laois in ’85 Facebook WhatsApp Home Sport GAA All of Monday evening’s Laois GAA results as Barrowhouse take step closer… SportGAAGaelic Football Twitter Barrowhouse have taken a big step towards reaching the semi-finals of the Laois ACFL Division 2, thanks to their 0-8 to 0-5 win over Park-Ratheniska this evening.Following on from their win over Ballyfin on Saturday tonight’s  win moves them on to 14 points and level with Courtwood in joint second. Barrowhouse’s remaining game is against Clonaslee on Wednesday evening in what will be their third game in five days.A win in that game would earn Barrowhouse top spot ahead of St Joseph’s, a final place and automatic promotion to Division 1B next season.Clonaslee are still in contention but need to beat Barrowhouse by at least 15 points to advance.There was also underage games down for decision this evening.Laois Shopping Centre ACFL Division 2 Barrowhouse 0-8 Park Ratheniska 0-5Midlands Park Hotel Under-13 Hurling League Division 1 Castletown Slieve Bloom 6-5 Rathdowney Errill 3-9Camross V Abbeyleix St Lazarian’s 6.30pmBorris in Ossory Kilcotton V Portlaoise 6.30pmThe Harps 5-9 Clough-Ballacolla 2-5Midlands Park Hotel Under-13 Hurling League Division 2Raheen Parish Gaels 2-2 Mountrath 2-8Park Ratheniska-Timahoe V Clonaslee St Manmans 6.30pmlast_img read more

June 20, 2021

Lads selling roses, a beautiful sunset and a new full forward line – it is all in our Tweets of the Week

first_img By Sarah Cullen – 24th November 2018 Pinterest New Arles road opens but disquiet over who was invited to official opening Twitter TAGSTweets of the Week Facebook Council Another wide and very varied week for Laois people on Twitter.hope I run into everyone today just cos I like what I’m wearing— Cathal O’Sullivan (@mista_osullivan) November 19, 2018We all know those days… Pinterest Lads selling roses, a beautiful sunset and a new full forward line – it is all in our Tweets of the Week Home We Are Laois Lads selling roses, a beautiful sunset and a new full forward line… We Are Laois Twittercenter_img Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ Previous articleMoore hat-trick inspires Park Ratheniska-Spink to U-14 ‘B’ football successNext articleClassy Conroy leads Portlaoise to U-14 Hurling Championship victory Sarah Cullenhttp://www.laoistoday.ieSarah Cullen is a Journalism and New Media graduate from the University of Limerick. A Portlaoise native, she is happiest when tweeting and talking about dogs. WhatsApp RELATED ARTICLESMORE FROM AUTHOR Community Facebook WhatsApp Community Great to see the Romanians back selling roses on the main street on nights out. Guarenteed Shifts with a rose.— Ricky Maher (@RichardMaher1) November 18, 2018The boom is backWith Mezza Pizza and Zam Zam getting mentioned in @kojaque new vid, it really is a special day for the town! 🇳🇬@softboyrecords @keankavanagh— Kieran Lillis (@kieranlillis) November 17, 2018Portlaoise making it on the big [email protected] Are you by any chance from County Leash? I just saw a video that I thought was you for a few seconds…— Elle ⚪h Hell (@ElleOhHell) November 23, 2018You leave our accents [email protected] Why didn’t I ever get drafted for the Laois team in less than 3 words? 😄— John Denis Dunne (@johndenisdunne) November 23, 2018We don’t knowDoes anyone have all the lyrics to the ‘Laois Laois Laois’ chant handy? Need to learn them before the start of the league campaign— David Lawlor (@davidlawlor222) November 22, 2018We’re sure you’ll figure it out David!And now— LovingLaois (@LaoisLoving) November 22, 2018ClassWhat’s all this fuss about the All Blacks – sure t’was only an old challenge not the championship – reminds me a bit of Laois beating Kerry in a challenge in 1986 (i think) before going down to Wicklow in the real deal— John Drennan (@DrennanPolitics) November 19, 2018An interesting take on thingsNew Laois full forward line,myself and Eoin Meade from Laois and this fella qualifies through the granny rule. Great weekend at the @FEXCOAGG. Great to captain the junior @SaigonGaels to an unbeaten Saturday. Wasn’t our day Sunday but Big congrats to @SAGaels for winning it— Conor Dormer (@conordormer) November 20, 2018We’ll take yee all lads!SEE ALSO – A list of powerful GAA women operating in a man’s world Laois secondary school announces scholarship winners for new academic yearlast_img read more

June 19, 2021

Energy and Economy Cooperation Working Group

first_img News Energy and Economy Cooperation Working Group SHARE On the 7th at Panmoonjeom, the Economy and Energy Cooperation Working Group of the Six Party Talks officially entered discussion about the economic and energy aid that’s worth 950,000 tons of heavy oil that will be given accordingly with the North Korea’s nuclear disarmament process that is the secondary phrase of the February 13 Agreement with North Korea. This meeting was to establish a roadmap for economic, energy and humanitarian aid that’s worth 950,000 tons. Such is following the nuclear disarmament process after our government completed giving 50,000 tons of heavy oil as the North stopped the operation of the Yongbyun nuclear facility on the 14th, July. Following this, on this day the participating representatives of the working group from North and South Korea, U.S., Japan, China and Russia held the first meeting at the House of Peace on South Korea’s side in Panmunjom and entered negotiation to prepare each country’s response action at the level of North Korea’s actions of nuclear disablement and listing of nuclear programs.At this conference, the core of discussion topics was to discuss which aid items to draw out from each country that corresponds to 950,000 tons of heavy oil and when it will be provided to North Korea. Due to this, actions to negotiate what North Korea “wants” and what each country “can” give will be carried out.On this morning at the conference where everyone gathered, it is reported that China followed South Korea to express its intent to give 50,000 tons of heavy oil during the middle of the month. In the case that China leads the aid of 50,000 tons of heavy oil, each country only needs to give economic energy and humanitarian aid worth 900,000 tons of heavy oil. The February 13 Agreement enumerates that economic, energy and humanitarian aid worth 1mn tons of heavy oil will be provided if North Korea gave up nuclear weapons. Thus, North Korea left the possibility open that the items provided could be general items and not heavy oil.Realistically, North Korea’s tanks for storing heavy oil are for 50,000 tons of oil per month so even if [countries] wanted to, it is impossible to give all the heavy oil. Thus, as North Korea has mentioned at the last Six Party of heavy oil storage facility ground confirmation and development center equipment aside from heavy oil as a response procedure, it seems that this could be made concrete.However, even if each country decides on a list of items to send to the North to support, it is not an easy problem to draft a specific roadmap as to when and how.First during the secondary phrase, North Korea must “report a list of all nuclear programs that exist and deactivate all nuclear facilities” in an ordinary fashion. As this level takes at least 5-6 months of time, work must be carried out in a divisive way to provide North Korea an incentive and to induce a deactivation approach.Korea had previously suggested a “System of Heavy Oil Gift Certificates” at the six parties’ chief delegates meeting to achieve the goal of “disarmament by the end of the year” to make a written promise instead of waiting for a response action every time North Korea carries out a specific level of action. This is from the judgment that if North Korea waits for each country’s response actions at every level, an amount of time would be delayed as well.If North Korea accepted this proposal easily, the providing method and time for the response action would not be hard to reach an agreement but experts predict that there is not a high possibility of such case. In such situation, the working group will not be able to compile an agreement proposal and with only a rough frame, a detailed roadmap will be completed in the Six Party talks planned for early September.On one hand, it was reported that a government official asserted that among the North’s representatives included an authority that manages energy problems and claimed that a detailed agreement process is prepared. Also, as it was introduced that a U.S. Office of Management and Budget related authority was included in the representative team, it is known that there is an intention to give energy aid to the North.Chun Young Woo, our Six Party delegate of the Economy and Energy Cooperation Working Group said at opening remarks at the conference that “If North Korea carries out denuclearization processes for a secondary phrase, this conference will draft a aid schedule and formula according to 950,000 tons of heavy oil that will be provided.”Also, he claimed, “At this conference, our role is to make a proposal that is pragmatic and has a high effectiveness of correlating duties. At the end of many obstacles, the Six Party Conference process is gaining movement again and the skepticism is disappearing. Facebook Twitter AvatarPark Hyun Min News News center_img By Park Hyun Min – 2007.08.10 1:49pm Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak News RELATED ARTICLESMORE FROM AUTHOR There are signs that North Korea is running into serious difficulties with its corn harvest North Korea tries to accelerate building of walls and fences along border with Chinalast_img read more

June 19, 2021

MSS cadres summoned to Pyongyang for investigation

first_img MSS cadres summoned to Pyongyang for investigation Facebook Twitter RELATED ARTICLESMORE FROM AUTHOR News AvatarChoi Song Min NewsEconomy By Choi Song Min – 2017.03.29 2:51pm News center_img North Korea’s Organization and Guidance Department has been reportedly summoning high-ranking Ministry of State Security cadres from each province to Pyongyang for interrogation following the purge of Kim Won Hong, the former head of the surveillance organ, which is currently under fire for abuse of power and spurious reporting practices.“The MSS’ unchecked activities has earned them an investigation by the Organization and Guidance Department of the Korean Workers’ Party (OGD). The interrogations have been conducted for a month with a significant number of high-ranking executives being demoted, dismissed, or disappearing altogether,” a source in South Pyongan Province told Daily NK on March 23. “MSS executives across all ranks nationwide have been summoned to Pyongyang for investigation. Many at the director and manager level have been released after drafting a self-critical essay. Others are less fortunate and have either been immediately dismissed or detained,” the source said. This has prompted many MSS officials, facing their own impending demise, to draw anxious parallels to past situations like the downfall of Kim Pyong Ha and the Shimhwajo case.Kim Pyong Ha was the first head of state security back in the early 1970s who executed or detained numerous administrative and Party cadres. He then reportedly took his own life when Kim Jong Il sent the OGD after him for straying from the Party’s orders. In the wake of the incident, the security body saw its authority greatly diminished.Now, concerns are rife among those affiliated with the MSS, a source in Pyongyang said. “Many fear the entire organization will be restructured or even dissolved, and there are rumors that even more officials will be dismissed, considering people’s heightened resentment toward the MSS,” he explained.“Some MSS officials even have plans to extract themselves from the organization altogether and find a more ‘stable’ line of work.” News US dollar and Chinese reminbi plummet against North Korean won once again SHARE North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) Proposal to shift “general markets” to “specialized markets” finds little support among N. Korean leaderslast_img read more

June 18, 2021

Scotiabank posts higher Q4 profit

first_img Toronto-based Scotiabank said Tuesday it has submitted a binding offer to acquire Banco Bilbao Vizcaya Argentaria, S.A.’s (BBVA) interests in its Chilean banking operation, BBVA Chile, and certain subsidiaries. If the deal goes through, it would double Scotiabank’s market share in Chile to roughly 14% and make the Canadian lender the third-largest non-state owned bank in the country, it added. The bank said the transaction is in line with its strategy to increase its scale within the Chilean banking sector and the high-growth Pacific Alliance countries, which also includes Mexico, Peru and Colombia. “This is a high-quality asset bank,” Scotiabank’s president and chief executive Brian Porter told analysts on a conference call. “It’s very well run,” he said. “We think it’s a good fit of assets, and will be a good fit of people and technology.” BBVA owns about 68% of BBVA Chile — which has $29 billion in assets and has 4,000 employees at 127 branches — and its minority partner, the Said family, owns about 32%. Scotiabank added that BBVA is willing to accept the deal if the Said family does not exercise its right of first refusal under a shareholders agreement. The $2.9-billion offer came hours before Scotiabank posted fourth-quarter earnings of $2.07 billion in net income or $1.64 diluted earnings per share for the three months ended Oct. 31, up from $2.01 billion or $1.57 during the same time last year. Canada’s third-biggest lender was the first of the country’s biggest banks to report its fourth-quarter earnings. Scotiabank posted net interest income, or the profit generated from loans, of $3.83 billion, up 5% from a year earlier. Adjusting for the negative impact of foreign currency translation, fourth-quarter net interest income grew 7%. Scotiabank’s latest quarter was helped by its Canadian banking division, with net income attributable to shareholders up by 12% to $1.06 billion. Its international banking division saw an 11% rise in net income to $605 million during the period, even amidst a string of natural disasters including hurricanes in the Caribbean and an earthquake in Mexico. Still, these profit bumps were offset by a 15% drop in fourth-quarter net income in its global banking and markets division to $391 million. Scotiabank’s provision for credit losses, or money set aside for bad loans, was $536 million, down from $550 million in the same period a year earlier. “Overall, we had been anticipating a weak close to the capital markets year for the group and, at least so far, that is what we have gotten,” said CIBC analyst Robert Sedran in a note to clients. “Soft revenues held back the results this quarter.” Shares of Scotiabank were down as much as 2.45% on Tuesday to $81.43 in early morning trading in Toronto. Even still, the bank reported a nearly 11% increase in net income for the fiscal year to $8.24 billion up from $7.37 billion a year earlier. Scotiabank’s diluted earnings per share for the 2017 fiscal year rose 8% to $6.49, compared to $6 in 2016. Its key measure of financial health, the common equity tier 1 ratio (CET1), increased to 11.5%, up from 11.3% in its third quarter and 11.% in the fourth quarter last year. That strong ratio gives Scotiabank the “optionality” to deploy its capital in various ways, including acquisitions, Porter said. If the transaction to acquire all the shares of BBVA Chile is completed, Scotiabank’s CET1 would be reduced by approximately 135 basis points, it said. Scotiabank’s chief financial officer Sean McGuckin told analysts that he expects the CET1 ratio to stay above 10.5. If successful, Scotiabank expects to settle the transaction during its first quarter, which ends on Jan. 31, and close the deal in the summer of 2018, bank executives said. Scotiabank shares fell on news of the proprosed deal to $1.75, or 2.1%, to $81.73 at the closing of markets. Photo copyright: deymos/123RF TD getting new head of private wealth, financial planning Keywords Earnings,  Banking industryCompanies Bank of Nova Scotia Canaccord reports record revenues, drops proposal to acquire RF Capital Fed plays limited role in assessing climate risks for banks Facebook LinkedIn Twitter Related news The Bank of Nova Scotia is doubling down on Chile with a $2.9-billion offer to buy a majority stake in a Chilean bank, as the Canadian lender’s latest quarterly profits rose despite a drop in trading revenues, natural disasters and a flying loonie. Scotiabank CEO Brian Porter elected IIF treasurer Share this article and your comments with peers on social media Armina Ligaya last_img read more