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Ground Broken for Sorrel Plant in Westmoreland

first_imgMinister of Agriculture and Fisheries, Hon. Roger Clarke, on Tuesday, June 4, officially broke ground for the establishment of a $24.8 million sorrel processing plant in Bethel Town, Westmoreland.Work on the 204-square metre modern facility, which will consist of production area, dry and cold storage, and sorting area, as well as office and bathroom conveniences, is already well underway, and is expected to be completed within three months.It will process sorrel to make jams, jellies and juices in addition to other value-added products, while significantly reducing the need for further imports for the Jamaican market.The processing facility, which will be operated by the Bethel Town Agricultural Co-operative Society, is being constructed by the Jamaica Social Investment Fund (JSIF) under its World Bank-funded Rural Economic Development Initiative (REDI).Minister Clarke, in welcoming the project, said it symbolises Government’s intention to “seriously deal” with import substitution.“This is yet another expression that this Government intends, in a very, very serious way, to deal with import substitution and to grow the agricultural sector. Why is it we have to import sorrel concentrate into this country to make drink, when sorrel can be grown almost anywhere in Jamaica?” he queried.He informed that the Ministry is working with the Mexican Government to train persons in the use of machinery to make the harvesting of sorrel easier.He noted that farmers in Central Westmoreland are already preparing lands to plant sorrel “so you had better hurry with the construction”.General Manager at JSIF, Loy Malcolm, informed that project will “transform over 120 acres of sorrel into value-added products”.“We at JSIF are happy to be a part of this and wish you all every success in this project,” she noted.Minister of State in the Office of the Prime Minister, and Member of Parliament for Eastern Westmoreland, Hon. Luther Buchanan, in his remarks, said the ground breaking exercise “means a brighter future for agricultural development in the parish of Westmoreland”.The agro-processing facility is expected to realise a 400 per cent increase in revenue for farmers, while generating employment opportunities for community members.Contact: Glenis A. Roselast_img read more

Moodys Downgrades CMA CGM due to Weakened Liquidity

first_imgzoomImage by Navingo The corporate family rating of French shipping major CMA CGM was downgraded to B2 from B1 amid the company’s weakened liquidity profile, according to rating agency Moody’s.Additionally, CMA CGM’s probability default rating was set to B2-PD from B1-PD, senior unsecured ratings were downgraded to Caa1 from B3, while the outlook was changed to stable from negative.“Today’s rating action reflects that CMA CGM’s liquidity profile has weakened materially in the last 12 months as a consequence of the acquisition of CEVA Logistics AG, although expected by Moody’s to improve somewhat in 2020,” Daniel Harlid, Assistant Vice President — Analyst and lead analyst for CMA CGM, said.The downgrade of CMA CGM’s rating follows the acquisition of CEVA Logistics, that together with the a large capex programme and difficult, albeit stable, market environment has and will continue to put pressure on the company’s liquidity profile.Given Moody’s base case, where the free cash flow generation of the company leaves very limited room for debt reduction, Moody’s now expects adjusted debt/EBITDA to be sustained above 5x and adjusted FFO Interest coverage to be sustained below 3x during the next 12-18 months.Moody’s notes that CMA GCM has historically shown “good access to capital and that there is some optionality when it comes to delay capex which would improve the current liquidity profile.”Also, Moody’s understands the company is planning to sell a minority stake in Ceva and divest terminals, both of which would improve liquidity.Nevertheless, the rating action reflects that available liquidity has decreased substantially since June 2018, when the company had USD 1.6 billion of cash on balance sheet and USD 1.2 billion of undrawn RCFs. This is in stark contrast with the liquidity position in June 2019, consisting of USD 1.5 billion (of which USD 270 million is at a Ceva level) and only around USD 280 million in undrawn RCFs.As Moody’s currently have a stable outlook on the container shipping sector, expectations on CMA CGM’s operating performance for the next 12-18 months reflects volumes growing with low single digits coupled with some further improvements in operating expenses per TEU (excluding bunker costs).This translates to a Moody’s-adjusted EBIT margin in the range of 3.5%-4.0% and Moody’s-adjusted debt/EBITDA of 5.6x-5.1x. The stable outlook is also based on a successful divestment of terminals for a total amount of at least USD 500 million.last_img read more

Closing arguments at Winnipeg trial for suspect in death of woman in

first_imgWINNIPEG — Lawyers are to present their closing arguments today at the Winnipeg trial of a man accused of killing a woman whose body was found in a barrel.Perez Cleveland, who is 46, has pleaded not guilty in the 2016 death of 42-year-old Jennifer Barrett.Court has heard that Cleveland shared a house with his adult daughter and five women who were described by one of them as “sister wives.”Four of the women testified that they experienced extreme physical abuse, surveillance and manipulation in the home.The Crown has said that Cleveland became convinced Barrett was cheating, so he tortured her for days before she was killed.The defence argued that one of the other women was jealous of Cleveland and Barrett’s relationship and acted violently towards Barrett.The Canadian Presslast_img read more

Were going to keep fighting

first_imgAPTN National NewsPolice swooped in Wednesday morning on a protest outside of Hamilton at an Enbridge pumping terminal.The arrests followed an injunction issued Tuesday morning against the group which is fighting the energy firm’s plans to reverse the flow of their Line 9 pipeline to bring Alberta tar sands oil east.Police arrested about 20 people, including a Six Nations member and an Anishinabe protestor.APTN’s Donna Sound visited the site on Tuesday and filed this report.last_img

Most actively traded companies on the TSX

first_imgSome of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (16,330.67, up 79.92 points)Aurora Cannabis Inc. (TSX:ACB). Healthcare. Down 58 cents, or 9.8 per cent, to $5.34 on 12.8 million shares.Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up 15 cents or 3.31 per cent, to $4.68 on 9.4 million shares.Aphria Inc. (TSX:APH). Healthcare. Down 92 cents, or 9.54 per cent, to $8.72 on 5.69 million shares.Canopy Growth Corp. (TSX:WEED). Healthcare. Down $2.89, or 8.25 per cent, to $32.15 on 5.08 million shares.Cenovus Energy Inc. (TSX:CVE). Oil and gas. Down 50 cents, or 3.85 per cent, to $12.50 on 4.62 million shares.Baytex Energy Corp. (TSX:BTE). Oil and gas. Down 15 cents, or 3.85 per cent, to $3.75 on 4.13 million shares.Companies reporting major news:Hydro One Ltd. (TSX:H). Utilities. Up 23 cents, or 1.2 per cent, to $19.33 on 2.43 million shares. The partially privatized utility named the 10 new members of its board, just over a month after the previous 14-member board resigned en masse following pressure from the newly-elected Ontario provincial government. Former CIBC executive Tom Woods will serve as the interim board chair until the position can be filled permanently.last_img read more

Site C workforce broke the 2100 mark in March

first_imgThere were 22 additional B.C. residents employed on Site C as contractors, making up 83 percent of contractors and bringing the total to 1,331. The number of Peace River Regional District resident contractors dropped from 642 to 598. The percentage of PRRD resident contractors dropped from 41 percent to 37 percent during the month.According to the rest of the statistics, there were only three temporary foreign workers employed at Site C during the month. There were also 22 apprentices, along with 256 women and 213 Indigenous workers. FORT ST. JOHN, B.C. — BC Hydro has released the employment statistics for the Site C dam during the month of March, which shows the dam’s workforce did increase during the third month of this year, though not nearly as much as it did in February.In March, there were 2,124 workers directly employed on the Site C project in some capacity. The number of contractors on site jumped by 54 compared to February to 1,611, while the number of engineers and project team members fell by 16. Photo by BC Hydro Photo by BC Hydro Photo by BC Hydro Photo by BC Hydro last_img read more

TMC unveils Jumla Meter to counter BJPs manifesto says NDA will get

first_imgNew Delhi: After the “Pradhan Mantri hisab do” campaign, Trinamool Congress unveiled “Jumla Meter” on Tuesday countering BJP’s vision document, released on Monday. Rajya Sabha MP and senior TMC leader Derek O’Brien, addressing a press conference here, pointed out 15 reasons for “how the Bharatiya Janata Party has failed to deliver on its 2014 election manifesto promises.”Countering the saffron party’s promise of strengthening labour-intensive manufacturing, the TMC asserted that unemployment rate of 6.1 per cent was highest in the last 45 years. Also Read – Uddhav bats for ‘Sena CM’On the state and centre relation for national development, the party alleged that “Federal structure is killed, where the ‘Special Category Status’ for Andhra Pradesh has been denied. In fact, inadequate funds are given for flood relief to non-BJP states like West Bengal and Kerala in the last five years.” O’brien also claimed that since the Pradhan Mantri Awas Yojana was launched, only 1.8 per cent sanctioned funds have been utilised. Even in the five years, the average agricultural growth has decreased to 2.9 per cent. The TMC leader further also said the investment in agriculture declined to 18.8 per cent in 2016-17 from 43.2 per cent in 1980-81. Also Read – Farooq demands unconditional release of all detainees in J&KEmphasising on the 2014 poll promise on black money by the BJP, TMC’s ‘ Jumla Meter’ says that “Black Money Taskforce set up by the government made no significant progress in bringing the black money stashed abroad. People named in Panama Papers are not made public, and no significant action has been taken. Demonetisation actually helped in making black money white.” O’Brien asserted that TMC’s priority after coming to power would be to ensure Assembly elections in Kashmir and passing the Women’s Reservation Bill. He also claimed NDA would fall short of a majority and win a maximum of 180 seats. “Our polls say NDA will get 180 seats. Make no mistake BJP, after May 23 TMC will be among the top three parties in Lok Sabha elections and we will come to power along with other opposition parties.” In the 2014 general elections, TMC emerged as the third-largest party with 34 seats, after BJP, Congress and the AIADMK. A three-member TMC delegation would visit the Election Commission on Wednesday at 11.30 am and will hold a press conference outside the Election Commission. They will take up the issue of NOTA button position in the VVPAT panel and the transfer of four senior police officers. On Monday, West Bengal chief minister and the party supremo Mamata Banerjee wrote to the Election Commission protesting the move of the EC.last_img read more

Pak releases 55 Indian fishermen five civilians as goodwill gesture

first_imgKarachi: Pakistan on Monday released 55 Indian fishermen and five civilians as a “goodwill gesture” amidst tension between the two countries after the Pulwama terror attack, according to a media report. The Indian fishermen and citizens, arrested in Pakistan, were released from Karachi’s Malir jail, the Express Tribune reported. The released prisoners were taken to the Karachi Cantonment Railway Station under heavy security, where they boarded the Business Express for Lahore, the report said. Also Read – 2019 most peaceful festive season for J&K: Jitendra SinghAs a goodwill gesture amid tension with India, Pakistan had announced to release 360 Indian prisoners, including 355 fishermen and five civilians, during April, the report added. Fifty-five of the men were arrested for illegal fishing in Pakistan’s territorial waters, while the other five were detained for crossing the border illegally. All of them were taken to Lahore in a train where they are expected to be handed over to the Indian authorities at Wagah border. Also Read – Personal life needs to be respected: Cong on reports of Rahul’s visit abroadOn April 7, Pakistan released first batch of 100 fishermen and another 100 were released on April 14. According to the Edhi Foundation, a non-profit social welfare organisation in Pakistan, Rs 5,000 was given to the fishermen by the foundation and they will send them to Wagah Border via special buses. According to the lists exchanged by both sides in January, there are 347 Pakistani prisoners in Indian jails, 249 of whom are what the spokesman described as civilians and 98 fishermen, the report said. Pakistan’s announcement to release the fishermen came amidst escalating tensions between India and Pakistan after a suicide bomber of Pakistan-based Jaish-e-Mohammed (JeM) terror group killed 40 CRPF personnel in Jammu and Kashmir’s Pulwama district on February 14.last_img read more

Football Redshirt freshman quarterback Matthew Baldwin enters name in transfer portal

Redshirt freshman Matthew Baldwin (12) throws a pass down the field in the first half of the 2019 Spring Game on April 13. Gray beat Scarlet 35-17. Credit: Casey Cascaldo | Photo EditorAfter entering spring camp expecting to battle with sophomore Justin Fields for first-team quarterback reps, redshirt freshman Matthew Baldwin has entered his name into the transfer portal. Ohio State confirmed the report Thursday. Lettermen Row was first to report.In the Spring Game, Baldwin completed 20-of-36 passes for 246 yards, throwing two touchdowns and two interceptions. Fields finished the game completing 4-of-13 pass attempts for 131 yards and a touchdown, adding a rushing touchdown with 38 rushing yards. Baldwin spent his first season with the Buckeyes overcoming an ACL injury he suffered in the 2017 Texas 6A State Championship game when he was at Lake Travis High School.As spring practice continued, Fields and Baldwin split first-team reps, and Baldwin was confident in is chances of playing time. “Now Tate leaves and Justin comes in,” Baldwin said. “I guess he is kind of chasing me.”With the loss of Baldwin, Fields and redshirt senior Chris Chugunov are the only quarterbacks on scholarship for the Buckeyes. Sophomore quarterback Danny Vanatsky is also on the roster as a walk-on. read more

Rony Lopes believes Portugal is confident

first_imgThe Portuguese forward thinks his team is ready to get a win against Italy in the 2018-2019 UEFA Nations League seasonThe Portugal national team is set to debut in the 2018-2019 UEFA Nations League season, but they will have a difficult opponent in front: Italy.The Azzurri already debuted on the competition and salvage a 1-1 draw against Poland in Bologna.And now they will play against the Portuguese in Lisbon.For forward Rony Lopes, Italy is good, but Portugal is better.Cristiano Ronaldo, JuventusSerie A Betting: Match-day 3 Stuart Heath – September 14, 2019 Considering there is a number of perfect starts so early in the Serie A season, as well as a few surprisingly not-so perfect ones….“We are confident,” the 22-year-old striker told the media as reported by Football Italia.“The fact Italy drew with Poland gives us even more belief and motivation to top the group. Italy is a good team with good players, but Portugal is ready to win.”“This team has a bright future ahead of it, as there’s a lot of quality and young players happy to learn from the experience of the elders,” he continued.“Cristiano [Ronaldo] is the best player in the world and it’d be a privilege for me to play by his side. It’s not happened yet, but I hope it will do soon,” he said.last_img read more