Sachin must open at Cup, say legends

first_imgCricket legends on Wednesday gave a unanimous verdict over whether Sachin Tendulkar should open or bat in the middle order in the 2011 ICC Cricket World Cup beginning February 19. They also believed Team India had a good chance to come up trumps.  “For the 14 years (out of his 22 years of international cricket), he has opened for India. His track-record says he has been the best batsman as an opener,” former captain Kapil Dev told Headlines Today, adding, “Let him continue to do that.” “His experience at the top will come handy for him to tackle pressure, but it is up to the captain to discuss this issue with the man himself if he wants him to bat down the order,” former batsman Sanjay Manjrekar said. “I think we have enough players in the middle order to change gears. Tendulkar should bat at the top,” said former captain Sourav Ganguly. The greats also appeared optimistic about India’s chances at the Cup. “We have a very good team, but someone will have to play extraordinary innings to win games,” said Kapil. For Manjrakar, India’s prospects look bright as the opponents at the 10th WC are not that strong as compared to earlier editions. However, Sourav cautioned against complacency, saying “On paper it’s a strong team, but winning the Cup is quite different.”last_img read more

Yuki to play first singles as team gears up to face World No.2 Serbia

first_imgIndias Yuki Bhambri trains in Bangalore on Thursday, a day before the Davis Cup World Group play-off tie against Serbia.On the eve of its World Group play-off tie against Serbia, the Indian team looked a happy bunch. Playing against Serbia, who are ranked second in the world and finished runners-up last year, not many would have given India a chance to make their way into the top-16.But with Serbia without their three most experienced and prominent players, the Indian team is relishing an opportunity to go through to the next stage.For that to happen, a lot will depend on the two singles matches that will be played on Friday. Yuki Bhambri and Somdev Devvarman will have to punch above their weight if India are to cause an upset.Yuki has been drawn against Serbia’s Dusan Lajovic, who has been playing well, while Somdev, ranked 144th, will be up against young Filip Krajinovic.On Saturday, India’s formidable doubles pair of Leander Paes and Rohan Bopanna will take on Nenad Zimonjic and Ilija Bozoljac.On Sunday, Somdev is scheduled to play the first reverse singles against Lajovic, while Yuki will play Krajinovic. The teams can, however, change the players for the fourth and fifth rubber until one hour before the matches.India’s non-playing captain, Anand Amritraj, sounded pleased with the fact that Yuki will open the campaign as both his singles players wanted to play first on the opening day. “Both Somdev and Yuki wanted to play first, so we are happy, whoever is playing the first match,” said Amritraj, who will be seen in a jacket that he wore when India reached the final of the 1987 Davis Cup.advertisementIndia had decent success in the Davis Cup, reaching the finals three times – in 1966, 1974 and 1987. But since then, India haven’t been able to repeat their historic feats.Doubles has always been India’s strong point but singles is where they have faltered, which is why their success rate has been affected. India come into the tie on the back of some good wins against Chinese Taipei and Korea, whom they beat 3-1 in an away tie.Serbia are in this position after losing to Switzerland in the World Group first round, in which they were also without the services of World No.1 Novak Djokovic. Somdev understands his responsibilities being the top-ranked singles player in the Indian team. “It is not about who plays first. Every single point in the match or the tie, for that matter, will be important. Filip has had the best season of his career. I am doing pretty well so I will put my best foot forward tomorrow,” said Somdev.The bounce because of the high altitude here will also be a factor as it will be difficult to control the shots. The ball is likely to fly past quicker through air and that is where Yuki, who is the more aggressive of the two Indians, may have to pay more attention.The tie will be played in the evening under lights here, although Indian captain Amritraj said both teams would have preferred morning starts.”Personally, I would have opted to play in the morning, and in Davis Cup, normally, matches are played in the mornings. However, both the teams agreed to the wishes of the organisers here and we are ready for it,” said Amritraj.Yuki is scheduled to play his reverse singles match against Krajinovic and the two know each other quite well. They haven’t played against each other in many years but they used to train together at the Nick Bollettieri academy.last_img read more

Fancied red lions shoot for second straight win

first_imgDA eyes importing ‘galunggong’ anew Philippine Arena Interchange inaugurated Hontiveros presses for security audit of national power grid Far Eastern has lost key players in Prince Orizu, Richard Escoto, Arvin Tolentino and Jasper Parker.In other matches, Colegio de San Benildo battle Marist in the first of the three 11-Under division games starting 8 a.m.San Beda takes on Don Bosco at 9 a.m., while La Salle Greenhills locks horns with Xavier at 10 a.m.In the lone high school match, the Perpetual Help Junior Altas go up against La Salle Greenhills at 5:45 p.m.Sports Related Videospowered by AdSparcRead Next Powered by fantastic freshmen, La Salle looks poised for a special season after dethroning UP View comments The Pirates dispatched of pesky College of St. Benilde, 78-69, while Adamson will be coming into the game fresh from an 89-65 annihilation of Emilio Aguinaldo College.The Pirates still retain the core, which went to back-to-back NCAA Finals and are still formidable even after Perez joined the PBA late last year as the No. 2 pick in the Draft.Adamson looked impressive with their new additions in former Arellano Junior Chief Aaron Fermin and former Baby Falcons stars AP Manlapaz.In the third seniors game, Letran faces debuting Far Eastern University in the 4 p.m. match.The Knights gave first year head coach Bonnie Tan a victory in his return to the tournament after a 78-67 win over rebuilding Jose Rizal University.ADVERTISEMENT MOST READ LATEST STORIES SEA Games hosting troubles anger Dutertecenter_img San Beda, with its solid core one of the favorites in the Filoil Flying V Preseason Cup, shoots for its second straight win along with three other sides as action resumes on Friday at Filoil Flying V Centre in San Juan.Coming off an impressive 75-66 victory over retooled University of the Philippines in the inaugurals, the Red Lions, the three-time defending NCAA champions, slug it out with Mapua in the 11 a.m. contest and are again tipped as the favorites.ADVERTISEMENT Ethel Booba twits Mocha over 2 toilets in one cubicle at SEA Games venue Panelo: Duterte ‘angry’ with SEA Games hosting hassles Private companies step in to help SEA Games hosting PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH 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 Games02:11Trump awards medals to Jon Voight, Alison Krauss Cayetano: Senate, Drilon to be blamed for SEA Games mess Mapua had a debut to forget as the Cardinals were blown off the floor by Centro Escolar University, 84-65, in a fight-marred match on Monday.Donald Tankoua scored a game high 24 points and had 11 rebounds in leading the Red past a UP team that has been beefed up by the acquisition of Ricci Rivero and Kobe Paras.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logisticsAdamson, Letran and Lyceum, playing without CJ Perez for the first time, are the other squads shooting for win No. 2.The Falcons and the Pirates, powers in their respective leagues, part ways in the 2 p.m. contest. Don’t miss out on the latest news and information. last_img read more

IPL 2019: Why Virat Kohli has been unable to do what Rohit and Dhoni do so often

first_imgAnother edition of the Indian Premier League (IPL) came to an end on May 12 when Mumbai Indians’ Lasith Malinga foxed Chennai Super Kings’ tailender Shardul Thakur on the last ball of the final to steal a 1-run victory for MI.This was Rohit Sharma’s 4th IPL trophy as a captain, surpassing MS Dhoni’s 3 trophies with CSK. On the other hand, India and Royal Challengers Bangalore captain Virat Kohli endured another disappointing season as the side couldn’t qualify for the playoffs for the 3rd year in a row.While Rohit and Dhoni’s fairytale with the IPL is very well documented with a total of 7 trophies amongst them, Kohli’s case is pertinent as to why a popular international captain is failing to mirror that success in the cash-rich T20 league. When analyzed together, these 3 IPL skippers can provide us the clues to the question: How to (not) win the IPL?MS Dhoni – Been there, done that Courtesy by BCCIMatches as captain – 174Won – 104Win% – 60.11IPL titles – 3Arguably one of the greatest white-ball cricketers ever, MS Dhoni proved his captaincy credentials as soon as he took over the reins of the Indian team for the inaugural World T20 in 2007. The rest, as they say, is history as he led not just the national side to one trophy after another but also CSK to 3 IPL trophies.In this day and age of never-ending influx of data and analysis in cricket, especially in the IPL, Dhoni and his team have been consistently proving everyone wrong by reaching the playoffs in every single season they have played. Whether it’s India or CSK, any team that Dhoni leads, ends up being moulded in the image of Dhoni. A master tactician himself, Dhoni has seen it all and acheived all that was on offer on the international stage and the IPL. But the beauty of Dhoni and his team lies in the fact that despite the proliferation of numbers and analysis in the IPL, they are not particularly fond of stats.advertisementOften ridiculed for being the oldest side in the IPL, Dhoni knows that ‘with age comes experience’.”Our age is (out) there, you can Google it. But you just can’t beat experience in any sport”: Dhoni’s teammate Dwayne Bravo said during IPL 2019.Another defining feature of Dhoni’s captaincy in the IPL has been trusting a fixed core group of players while building the team around them. The likes of Bravo, Suresh Raina, Ravindra Jadeja, Faf du Plessis and Shane Watson have long been identified by Dhoni as his key players and the franchise sticks with them each year showing their trust in the players. The players on their part seem to extract the most out of their potential while playing under ‘the best captain in the world’ – in the words of Bravo.Dhoni also realises that in a format as cruel as T20, one needs to back such players even if they are going through a rut. This was reflected perfectly when CSK continued with Watson as their opener despite him failing in the 1st 10 matches of the season. In the next one, the Australian was adjudged the Man of the Match as he hit a rollicking 96 to win the game for his side. Later in the final against Mumbai, Watson again proved his worth when he took CSK to within a touching distance of the win.But the fact that separates Dhoni as a captain from the rest is his trust of instincts. Dhoni knows that no matter how much planning you put into your preparation, in the end, it’s going to be actual human beings who have to execute those plans. If they can’t, you are set to fail. Dhoni’s focus is on players performing according to the situation and their own strengths and weaknesses. Whether its taking the game deep into the final over or using spinners in the powerplay as well as at the death, these decisions have Dhoni’s cricketing smarts written all over them. Dhoni’s instincts are one of the main reasons why he remains one of the legends of the IPL.Rohit Sharma: Friendly neighbourhood ‘Hitman’ Courtesy by BCCIMatches as captain – 104Won – 60Win% – 58.65IPL titles – 4Since Rohit took over the captaincy of MI, they have come a long way from being also-rans to 4-time winners of the IPL. Having trumped Dhoni’s CSK 4 times out of 4 this season, Rohit Sharma has now proved that when it comes to the IPL, he is as good a captain as anyone else.advertisementBut in contrast to Dhoni, Rohit and his team rely a lot on analytics and stats. Take the example of how MI plotted the downfall of Kolkata Knight Riders’ Andre Russell in a league fixture in Mumbai.In Rohit’s own words after the win: “Malinga has never bowled around the wicket to any batsman. So, he came and bowled to Andre Russell, and he got him out. That was sheer planning. We went through his videos as well to see what sort of movements he creates when he bats, so we thought coming round the wicket will be an ideal option for him and bowl that bouncer. That’s an example I gave you, but overall what I want to say is strategies and planning do help and we’re very good at what we do here.”Rohit’s reliance on stats is to the extent that he often has one or more back-up plans ready if the 1st strategy backfires. As any success story teaches us, such a guarded and well-planned approach is sure to yield favourable returns sooner or later.For Rohit Sharma though, winning matters and also requires taking tough decisions. The exclusion of crowd favourite Yuvraj Singh from the playing XI after the 1st few games was notable this year as Rohit chose to bank on the youthful exuberance of Ishan Kishan instead of the 37-year-old former India all-rounder.What has been particularly exceptional about Rohit’s leadership is his faith in the younger players. Apart from Kishan, the way Rohit used Rahul Chahar throughout this season was nothing short of a masterstroke. Even in the final, Chahar’s figures of 1/14 of his 4 overs were worth their weight in gold even though it was overshadowed by the efforts of Jasprit Bumrah and Lasith Malinga.In Sachin Tendulkar, Mahela Jayawardene, Zaheer Khan, Shane Bond and Robin Singh, Rohit Sharma also has probably the richest support staff -purely in terms of cricketing acumen – among all IPL teams. They make smart choices at the auctions and maintain a relaxed atmosphere while preparing players to execute strategies under real-life match situations. Rohit, on his part, concurs.”We do believe in each others’ ability and we do believe in planning strategies,” Rohit said during the IPL.”Luckily for me, I have a staff around me which is so good at that, in terms of planning and making those crucial decisions and strategies. Because I am a firm believer in having planning. Whatever game you play, you have to go with a plan and have some sort of strategies around the opposition. I’ve seen IPL from close quarters, you need to be a little dynamic.”Virat Kohli – What not to do at IPL Courtesy by BCCIMatches as captain – 110Won – 49Win% – 47.16IPL titles – 0India’s 2nd most-successful Test captain has struggled, to say the least, in the IPL and did so once again this season. It seems what works for Kohli at the Test level – his aggression – proves to be his undoing in the IPL. The difference being that while leading India in Tests, he has the country’s best talent at his disposal and his sustained aggression can at times wear the opposition down, as it did against Australia a few months ago. Come the IPL, Kohli’s aggression is laid threadbare when his bowlers bowl wayward lines and the batsmen play rash shots.advertisementYou could argue that the problem starts at the auction itself and you wouldn’t be far from the truth. RCB have always been found out due to the lack of a balanced side. While before the last auction they lacked a disciplined fast bowler in their lineup, the middle-order sans AB de Villiers looked out of sorts as well. But still somehow they ended up with the likes of Umesh Yadav, Mohammed Siraj and Navdeep Saini – all good pacers but also prone to leak runs on any given day. Though in the batting department, the addition of Shimron Hetmyer raised hopes.But the hope soon turned into despair as RCB went on a six-match losing streak beginning from their opening game debacle against CSK. And once the slide started, the continuous chopping and changing meant that only 8 RCB players got to play 10 or more matches in IPL 2019. Moeen Ali, who is known for his ball-striking ability was terribly underused and often found himself coming in to bat when a handful of deliveries were left in the innings. Hetmyer got to play just 5 games. Tim Southee featured in just 3. The dependence on Kohli and AB continued while other batsmen failed to rally around the talismanic duo.Just before the start of IPL 2019, Kohli was asked if he felt bad about not winning the tournament even once. His reply was: “You mean IPL? I don’t really care whether I am judged on this or not.” The fact of the matter is that whether Kohli cares or not, he still is the captain of an IPL team and looks, in all likelihood, to remain in the post in the near future. It is then pertinent for the captain to at least ‘care’ about winning or losing. The way Rohit has carved a legacy for himself while leading MI, one wonders what is stopping Kohli from doing the same.Maybe Kohli needs to take a leaf out of his senior Dhoni. After all he still takes his counsel on the field during India matches. Maybe Kohli needs a pause. Maybe he will be better served with more sane voices in his ears as Rohit has at MI. Both RCB and Kohli have got to take a moment and decide what kind of legacy they want their team to take forward after 12 trophy-less years. Is it going to be ‘plain aggression’ and ‘fighting fire with fire’? Or, will they finally start making smart choices at the auctions?Will Kohli be willing to back his most trusted bowlers, no matter the amount of stick they receive in one game? Will Kohli be willing to back his batsmen despite failures? Most importantly, will Kohli stop living in denial and actually start caring about the IPL? Unless the answers to these questions are in affirmative, there is no light at the end of the tunnel for RCB.Also Read | How India’s World Cup-bound players fared in IPL 2019Also Read | Perfect Endgame: How MI served revenge cold in IPL 2019 final to CSKAlsO Read | IPL 2019 final was paisa vasool for fans but CSK players heartbroken: Harbhajan SinghAlso See:last_img read more

Maersk Line ISS to Enhance Papa New Guinea Coverage

first_imgzoom Danish shipping company Maersk Line and UK-based maritime services provider Inchcape Shipping Services (ISS) plan to expand their Papa New Guinea coverage by adding two new ports of call, starting from March 2017. In addition to the existing ports, Port Moresby and Lae, the duo will add direct calls to the ports of Madang and Wewak.“Our vessels will call Port Moresby-Lae-Madang-Wewak on each voyage through Papua New Guinea,” the firms said.Additionally, Maersk Line and ISS said that Rabaul and Kimbe will continue to be serviced with domestic coastal relay from Lae.More details about the enhanced service will be provided closer to the launch date in March, the two companies added.last_img read more

Discussion about the upcoming fight between Brazeau and Trudeau

first_imgAPTN National NewsTerry Marcotte knows all about stepping in the ring to fight for a cure.He competed a few years ago.Marcotte joined APTN National News anchor Michael Hutchinson to discuss the upcoming fight between Conservative Senator Patrick Brazeau and Liberal MP Justin Trudeau.last_img

Peace Gallery North presents Artists Choice art exhibit

first_imgFORT ST. JOHN, B.C. – The Flying Colours Artists’ Association is highlighting their ‘Artists Choice’ at the Peace Gallery North, opening night for the Exhibit is Friday, January 4th, 2019.This Exhibit will feature approximately 15 artists showcasing their chosen work to create an eclectic and interesting display of varying mediums and styles. Most of the art being displayed is available for purchase and you will experience varying local art from Pottery to Watercolour.Opening night starts at 7 pm and runs until 9 pm, there will be light refreshments and live entertainment. The ‘Artists Choice’ Exhibit runs until January 24th, 2019 The Flying Colours Artists’ Association is a diverse group of visual artists from the North Peace Region. The Association has been around for 10 years and is always welcoming new members, as the membership includes a diverse and interesting variety of media, subject, and style.The organization aims to provide support and educational opportunities to their community of practicing artists through the sponsorship of adult art workshops, artists’ retreats and mentoring.To find out more about the Flying Colours Artists Association CLICK HERElast_img read more

CPSE ETF: Govt eyes `3,500 cr from fifth tranche subscription

first_imgNew Delhi: The fifth tranche of the CPSE Exchange Traded Fund will open for subscription on March 19, wherein the government seeks to raise at least Rs 3,500 crore. The fourth Further Fund Offer (FFO), which would be open from March 19-22, would help the government in mopping up funds towards meeting its disinvestment target of Rs 80,000 crore for the current fiscal ending March 31. According to Reliance Mutual Fund, which is managing the CPSE ETF, the fifth tranche would open for subscription on March 19, for anchor investors. Also Read – Thermal coal import may surpass 200 MT this fiscalNon-anchor investors, including retail investors, can put in their bids from March 20-22. This would be the second CPSE (Central Public Sector Enterprises) ETF FFO in the current fiscal after Rs 17,000 crore raised November 2018. So far, the government has raised a total of Rs 28,500 crore from rounds through CPSE ETF, including the first offer in March 2014 that mopped up Rs 3,000 crore. “The CPSE ETF is trading at very attractive valuations. As on February 28, the dividend yield of the index was as high as 5.52 per cent compared to 1.25 per cent for the Nifty 50… In addition, the government is also giving a 4 per cent discount to investors,” Reliance Mutual Fund Head (ETF) Vishal Jain said. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostThe ETF tracks shares of 11 Central Public Sector Enterprises (CPSEs) — ONGC, NTPC, Coal India, IOC, Rural Electrication Corp, Power Finance Corp, Bharat Electronics, Oil India, NBCC India, NLC India and SJVN. Through the latest offer, the government aims to raise an initial amount of Rs 3,500 crore and the offer size could be raised, as per Reliance Mutual Fund. After raising Rs 3,000 through New Fund Offer (NFO) in March 2014, the government garnered Rs 6,000 crore from the first FFO of the CPSE ETF in January 2017. Subsequently. Rs 2,500 crore was mopped from the third tranche in March 2017 and Rs 17,000 crore from the fourth round in November last year. The government has raised Rs 56,473.32 crore through disinvestment till February 28, as against the target of Rs 80,000 crore for the 2018-19 fiscal.last_img read more

Inter-Creditor pact a non-starter: Debtors to SC

first_imgNew Delhi: Corporates opposing the RBI’s February 12 circular on loans resolutions have submitted to the Supreme Court that the Inter-Creditor Agreement (ICA) among banks as a possible debt resolution framework has failed to take off as the relevant institutions like LIC, HUDCO, IFCI, IIFCL, NIACL, SIDBI, GIC are not signatory to it. The companies have slammed the slow progress of the inter-creditor arrangement among the banks saying it is a non-starter due to the absence of relevant members even though the Reserve Bank of India (RBI) has endorsed its utility. Also Read – Thermal coal import may surpass 200 MT this fiscalThe ICA is seen as helping the debt defaulters to avoid bankruptcy proceedings and a possible debt resolution mechanism. The ICA is a non-starter because 49 out of 85 lenders (that is 58 per cent) have so far not signed the agreement even after the expiry of eight months, and 10 of the non signatories are government-owned financial institutions and major lenders in the Infrastructure sector –LIC, HUDCO, IFCI, IIFCL, NIACL, SIDBI, GIC, the pleaders’ their submission stated. “None of the Non Banking Financial Companies/Asset Reconstruction Companies (NBFCs/ARCs) are party to the ICA, without whom the agreement mechanism will not be effective,” the companies further added. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostThe petitioners said: “In its written submission, the RBI has endorsed the ICA as a possible debt resolution mechanism in its submissions to the Supreme Court, since it is aimed at helping debt defaulters to avoid bankruptcy proceedings and requires only 66 per cent approval of lenders.” Indian banks, who are trying to sell their troubled assets are part of the ICA. A group of banks, including public sector, private sector and foreign banks, signed an inter-creditor agreement in 2018 to push for the speedy resolution of non-performing loans on their balance sheets as per which a majority representing two-thirds of the loans within a consortium of lenders should now be sufficient to override any objection to the resolution process coming from dissenting lenders. Under ICA, minority lenders who suspect they are being short-changed by other lenders can now either sell their assets at a discount to a willing buyer or buy out loans from other lenders at a premium. The inter-creditor agreement is aimed at the resolution of loan accounts with a size of Rs 50 crore, anything above that are under the control of a group of lenders. It is part of the broader “Sashakt” plan approved by the government to address the problem of resolving bad loans. ICA Chairman Sunil Mehta is of the opinion that disagreement between joint lenders is the biggest problem in resolving stressed assets. Many debters and lenders believe that the holdout problem, where the objections of a few lenders prevent a settlement between the majority lenders, will be solved through the inter-creditor agreement. Such an agreement may persuade banks to embark more quickly on a resolution plan for stressed assets. This is an improvement on the earlier model, which relied solely on the joint lenders’ forum to arrive at a consensus among creditors. However, the companies approaching Supreme Court against the February 12 Circular on loan resolutions said this alternate mechanism is not taking off. Indian banks have been forced by the RBI to recognise troubled assets on their books, but their resolution has remained a challenge. Supreme Court has heard a bunch of petitions across the sectors — Power, Ship-building, Sugar, Telecom — opposing the RBI’s February circular. A two-judge bench of Justice Rohinton Fali Nariman and Justice Vineet Saran is hearing a bunch of petitions moved by power, sugar, and ship- building companies challenging the RBI’s circular. On February 12, 2018, the RBI had asked banks and other lenders to either execute a resolution plan for big stressed accounts or file insolvency petitions against them in the National Company Law Tribunal (NCLT).last_img read more

SC order quashing RBI circular to give relief to power cos but delay bankruptcy proceedings

first_imgNew Delhi: The Supreme Court order quashing a Reserve Bank of India circular on resolving bad debt will provide relief to power companies and lenders as well as flexibility to restructure debts but will slowdown bankruptcy proceedings, experts said Tuesday. The Supreme Court on Tuesday quashed RBI’s February 12 circular, which prescribed rules for recognising one-day defaults by large corporates and initiating insolvency action as a remedy. Also Read – India gets first tranche of Swiss bank a/c details Vishrov Mukerjee, Partner, J Sagar Associates said after the Supreme Court judgment, the RBI may have to issue revised guidelines/circulars for the restructuring of stressed assets. “There is also a question mark over existing processes which may have been completed/nearing completion,” he said. “However, with the threat of IBC proceedings mitigated, it will give some breathing space to power companies and lenders as well as flexibility to restructure debts in a manner which ensures continuity and value maximization for lenders as well as power companies.” Also Read – Tourists to be allowed in J&K from Thursday Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas, termed the ruling as a major development that shows how “proactive” the judiciary has been. “Whilst it’s too early to say but if banks voluntarily still invoke IBC – the practical impact will be minimal,” he said. ICRA senior vice president Sabyasachi Majumdar said the Supreme Court decision is likely to result in a further slowdown in the already tardy pace of resolution of stressed assets in the power sector. “This apart, the resolution process is in any case subjected to regulatory risks as exemplified in the case of the Prayagraj Power asset, where the regulator has given a recent directive for a discount in PPA tariff while allowing the shareholding change approval for the same,” he said. The RBI had on February 12, 2018, issued a circular on the resolution of stressed assets revised framework — commonly known as February 12 circular. According to the circular, lenders had to classify a loan account as stressed if there was even a day of default. The bankers had to mandatorily refer all accounts with over Rs 2,000 crore loans to the National Company Law Tribunal (NCLT) or the bankruptcy court if they failed to resolve the problem within 180 days of default. Lenders were supposed to file an insolvency application under the Insolvency and Bankruptcy Code 2016 within 15 days of the completion of the 180-day deadline. The circular also withdrew the loan resolution mechanisms the RBI had implemented, such as Corporate Debt Restructuring and Strategic Debt Restructuring. Power sector was the worst hit by the circular and so were companies in steel, textile, sugar and shipping sector. GMR Energy Ltd, RattanIndia Power Ltd, Association of Power Producers (APP), Independent Power Producers Association of India, Sugar Manufacturing Association from Tamil Nadu and a shipbuilding association from Gujarat moved different courts against the circular. The power sector argued that outstanding loans of Rs 5.65 lakh crore (as on March 2018) were a result of factors beyond their control such as unavailability of fuel and cancellation of coal blocks. The Supreme Court Tuesday held that the circular was ‘ultra vires’ — meaning it went beyond the scope of what the RBI can do when coming up with rules and regulations. Mukerjee said the Supreme Court verdict along with recent government decisions implementing the recommendations of the High-Level Empowered Committee will provide much needed respite and impetus to regulatory reform in the power sector.last_img read more

Womens gymnastics Ohio State tops No 11 Michigan Washington and Kent State

The Ohio State women’s gymnastics team snagged another win with an overall score of 195.8 after their home quad-meet against No. 11 Michigan, Washington and Kent State on Saturday evening.The team started strong in their first rotation event on vault, scoring a total of 49.12. Junior Alexis Mattern received the highest score and career best of 9.9, tying for first on vault with Michigan’s Olivia Karas.“Person after person, and being the sixth person up on vault, it’s, it’s kind of tough,” Mattern said. “So you have to wait and watch your teammates, and you just wait in the wings until it’s your turn. And for me to do the vault that I’ve been training all week, right in the moment, when it really counted, was just really great to start that off.”The Buckeyes gained the lead after the first rotation and continued with momentum to the second event on uneven bars. Sophomore Kaitlyn Hofland placed second overall with a score of 9.85.After the third rotation on beam, OSU still held the lead before entering their fourth and final event on floor.“As much as we try not to focus too much on the scores, we could see that we were still in the lead going into the last event,” Hofland said. “Floor is a strong event for us. It’s a fun event. It’s an awesome event and we knew we all could do it.With the team placing first in their Saturday meet and Mattern finishing third in the all-around with a 39.125, Ohio State received their first conference win against Michigan.“To beat them at home when all the odds were really stacked against us just means so much more, especially because we worked so hard,” said Mattern.After riding a wave from their second victory, the team said it won’t take the win for granted. A few minor performance issues were seen during the meet, such as two girls receiving a one-tenth point deduction for stepping out of bounds on their floor routines.Although coach Carey Fagan took these performances as something to improve upon in preparation for their next meet on Jan. 28 against Iowa, she holds a strong positive outlook for the coming meet and the season as a whole.“Starting off in the conference 1-0 is going to be huge for my team, and beating — Michigan is a great team,” said Fagan. “They’re historically strongest in the conference, so I think the confidence that my team will get knowing that they compete with the best will really set us up for the rest of the season.” read more

Emery delighted with win against tough Huddersfield

first_imgUnai Emery has revealed his happiness as Arsenal fought hard and long to break down a resilient Huddersfield Town in their 1-0 win at the Emirates.Lucas Torreira’s acrobatic goal in the second half was enough to hand Arsenal all three points as they struggled to break the deadlock and Emery is delighted as the Gunners extend their unbeaten run to 21 matches.“Tough match for us,” Emery told Sky Sports.“I wanted to play with more rhythm in the match but they were moving with a slow rhythm and with all the passion we needed to play this [type of] match and at the end of it, we are happy with this victory.Premier LeaguePremier League Betting: Match-day 5 Stuart Heath – September 14, 2019 Going into the Premier League’s match-day five with a gap already beginning to form at the top of the league. We will take a…“It’s been a very big week for us and we wanted to win today for our supporters. We wanted to play better with a different rhythm in the match but we couldn’t do that because there were a lot of stoppages in the 90 minutes.“It’s not just [difficult] for us, also for the opposition. Their plan was to play a very slow rhythm, go one-to-one in all the positions, which was not easy for us, and then a lot of long balls, second actions and a lot of stoppages in the match. For me, today was a very good victory in a very tough match.”last_img read more

Marcelino confirms Chicharito wants to play for Valencia

first_imgAs the transfer market maintains its course at the end of January, manager Marcelino has confirmed that ‘Chicharito’ is keen in a Valencia move.With striker Michy Batshuayi not living up to the expectations for Valencia, it was only natural that manager Marcelino started looking for a proper replacement such as West Ham United’s ‘Chicharito’ Hernandez.The Mexican player has a sweet memory at Mestalla during his Manchester United days, he scored the winning goal against Valencia and left a very good impression with all the Spanish fans who right now would love to have him come back to La Liga.The striker already knows what it is to play in Spanish football after he played a season on loan for Real Madrid, he became very important for Los Blancos when Carlo Ancelotti was still the manager of the club but fell short as the squad only made it to Champions League semifinals and didn’t win La Liga trophy.Hernandez still left a great image amongst all Spanish football fans, they like the idea of having him back scoring goals for Valencia and the club’s manager just revealed that the player is keen on making the shock move from English football.But there are a set of problems that prevent him from coming.Chicharito se atascaLINK PODCAST ➡️ https://t.co/iwmJfN0wGK🦇 Garay, Batshuayi y Chicharito, los tres nombres del mercado🗣RP Marcelino y entrenamiento Valencia🐸 Defensa en cuadro para el Pizjuán 👥Tertulia con @DavidFerriis8, @PardoD_, @DCampoy10 y @sanchis14 pic.twitter.com/cGIDNJInQ8— Radio Marca Valencia (@RMValencia) January 25, 2019The first situation that ‘Chicharito’ will encounter is the fact that manager Manuel Pellegrini is still not sure about Marko Arnautovic’s future, if the forward leave then Hernandez won’t have a chance to leave the Hammers with virtually no strikers.The second problem is the deal that West Ham United wants for the Mexican, they are keen on him to leave but only for a definitive transfer and not a loan like Valencia would like.But as the clock keeps ticking for Valencia and ‘Chicharito’ himself, the Spanish club is quickly running out of options and they obviously don’t want to only keep Michy Batshuayi after becoming one of the club’s biggest flops in recent memory.Marcelino is open to the possibility of selling the Belgian striker, but he also knows that striking a good deal for him will be quite difficult as he currently belongs to Chelsea and the Blues don’t want anything to do with him.Marcelino, ValenciaReport: Marcelino speaks out after Valencia sacking George Patchias – September 13, 2019 Marcelino says he knows why he was sacked by Valencia.Speaking for the first time since he was dismissed by Valencia, after only three games…Valencia is in a tight spot right now and this sets back Hernandez’s chances to return to the Spanish La Liga.Este día Marcelino García Toral, entrenador del Valencia, confirma que si están buscando los servicios del mexicano.“Chicharito quiere venir, pero es complicado, West Ham solo contempla la venta”.Medios en Inglaterra informan que Valencia puso 8 millones. pic.twitter.com/4PO1yi6gDz— Fútbol al Momento (@2Futalmomento) January 25, 2019During a press conference this Friday ahead of Valencia’s Derby against Villarreal at Mestalla, manager Marcelino spoke about the Mexican striker and two other players who may or may not leave the club during the winter.“‘Chicharito’ is an option for us because he doesn’t really play much at his club and he is keen on coming to play for Valencia, but we have a complicated situation on our hands,” said Marcelino on Marca.“Keeping three strikers is not something we are looking for. The little information I get, suggests that West Ham United only contemplates selling ‘Chicharito’.”“As far as other transfers, I don’t have the certainty that Ezequiel Garay will leave the club in any case. I don’t see my self in any scenario that doesn’t include Valencia keeping Garay until June 30.”“With Batshuayi, I think that nothing is impossible. I can’t discard any possibility. Batshuayi staying at the club is very unlikely.”“If it was up to Valencia and the player he would be gone by now, but there is a third involved club who has his rights. I think that this situation will resolve itself in the finals days of the transfer window,” he concluded.“Chicharito quiere venir al Valencia” lo confirma Marcelino García Toral técnico del equipo Che, en rueda de prensa. pic.twitter.com/VChJcr52gB— Fernando Cevallos (@FerCevallosF) January 25, 2019Would you like ‘Chicharito’ to complete his transfer from West Ham United to Valencia? Please share your opinion in the comment section down below.last_img read more

Neville says England can win the womens World Cup

first_imgThe national team manager believes his team has what it take to win the 2019 FIFA Women’s World Cup this summer in France.Phil Neville started working as England women national team manager in 2018.And he set his objectives very high, as he wants to win the 2019 FIFA Women’s World Cup with the Lionesses this summer in France.“It’s probably going to be the most open World Cup in terms of who’s going to win it. And we’re preparing to make sure we have to be at our best,” Neville was quoted by Sports Illustrated.“I said on day one I want to win the World Cup. That wasn’t me being arrogant or big-headed, that was the challenge I set myself and for my group of players.”“At Canada 2015, we came third. So progression is to get to the final, progression is to become better than third,” he added.Jadon Sancho, Borussia DortmundCrouch: Liverpool could beat Man United to Jadon Sancho Andrew Smyth – September 14, 2019 Peter Crouch wouldn’t be surprised to see Jadon Sancho end up at Liverpool one day instead of his long-term pursuers Manchester United.“USA are the No. 1 favorites. You’ve got to say France are No. 2 because they’re the home nation.”“You can never rule out Germany – we played them in SheBelieves last year and they were physically a fantastic side,” he explained.“So we’ve got to be at our very best. But so too have USA, France, Germany.”“I went to an awful lot of games – I still do now, of course – and met a lot of people in the Women’s Super League (WSL), women’s football, the managers, players etc.”“But you’re judged on your results and I felt as if, the minute we beat France 4-1 in my first game, up until then people were waiting for me to fail,” he continued.“And then we beat France – with the style of football that we played – and all of a sudden, it had almost put it to bed. From then onwards it felt as if I could start relaxing a little bit and not have to prove to people every minute of every day that I’m going to know about women’s football.”last_img read more

Live Major StokeonTrent roundabout expected to remain closed all day

first_imgA major roundabout is set to remain closed for the rest of the day and one person has been taken to hospital following a collision. The Heron Cross roundabout, just off the A50 near Fenton , is expected to remain closed for most of the day following an incident at around 9am this morning. Police officers revealed the road is likely to need resurfacing due to the amount of fuel that has been spilt onto the highway. Read MoreOne person trapped and major roundabout ‘partially closed’ due to overturned vehicle A Staffordshire Police spokesman said: “A lorry has tipped over on the A50 Heron Cross roundabout, causing a large fuel spillage. “Unfortunately the road will need to be resurfaced due to the amount of fuel, meaning the roundabout is expected to remain closed for the rest of the day. Please avoid the area if possible.” Fuel spillage on the Heron Cross roundabout (Image: Staffordshire Fire and Rescue Service) Firefighters also attended the scene this morning with crews from Longton, Hanley, and Cheadle freeing a casualty from the lorry’s cab. Read MoreCity road cordoned off due to fire in abandoned flats We will bring you more on this story in the live news feed below. Want to keep up to date with the latest traffic and travel news?Each day Stoke-on-Trent Live journalists bring you the latest news on the roads and railways across Stoke-on-Trent, North Staffordshire, South Cheshire and further afield to help keep you on the move. For the very latest updates on roads including the M6, A500, A50 and more, visit our dedicated traffic and travel news channel here. We also run a live news feed each weekday, which you can access on our website’s homepage from 7am to 9pm from Monday to Friday. And for more as-we-get-it updates on the roads across the region and beyond, join The Sentinel’s traffic and travel Facebook group here.20:12Heading #A50 #HeronCross roundabout #Fenton? Please be aware the roundabout remains closed following this morning’s collision. Extensive spillage and damage to the road surface. Our contractors continue to carry out these emergency repairs. Please plan ahead.— Highways England (@HighwaysWMIDS) June 18, 201818:19Recovery operations and load transfer from overturned HGV remain ongoing on the #A50 #Heroncross roundabout #Fenton #Staffordshire. The A50 / #A5007 west roundabout remains closed and resurfacing will take place when recovery completed. Expect protracted closure. pic.twitter.com/7KeWXXG2Ph— Highways England (@HighwaysWMIDS) June 18, 201815:05Temporary road surface to be put in placeThe southern side of the roundabout is closed, whilst cleanup of 200 litres of fuel takes place. The road surface will need removing and a temporary one will be in place later today. Traffic from the Eastbound A50 can still use the roundabout. 13:54Drivers urged to find alternative routeTraffic is very slow in Fenton with problems remaining on Baths Road Eastbound between A5005 / A50 / Foley Road (Longton / Blurton) and A5005 The Strand / A50 Times Square. Drivers are urged to find an alternative route due to the accident.13:29500 litre spillageHighways England has revealed more than 500 litres of fuel was spilt on the carriageway.12:14INRIX updateA50 Heron Cross Roundabout Westbound exit slip road closed at A5007 Victoria Place Fenton (Heron Cross / Fenton). Traffic is coping well.The exit slip road from the Westbound A50 onto the Heron Cross Roundabout above the motorway is closed to assist a lorry that has overturned on the roundabout.11:39Highways England update11:16INRIX traffic updateA50 Heron Cross Roundabout blocked, slow traffic at A5007 Victoria Place Fenton (Heron Cross / Fenton), congestion to A50 / Upper Normacot Road. On the roundabout.Lorry has overturned on the roundabout affecting traffic heading from A50 towards Fenton. Traffic is not helped as it was using this route as a diversion for a closure on Uttoxeter road in Longton. 11:1611:00Firefighters work on the overturned lorry (Image: Stoke Sentinel)10:53A fuel spillage meant the Heron Cross roundabout off the A50 had to close. (Image: Highways England)10:52Pictures from the scene (Image: Highways England)Police officers and fire engines have been tackling the incident.10:46Driver hospitalisedStaffordshire Fire and Rescue service revealed the driver has been taken to hospital.A spokesman said: The driver is now on his way to Royal Stoke Hospital. There is a large amount of diesel on the road and this will take some time to clear. The road is expected to be shut for the majority of today. Please avoid the area.last_img read more

You wont believe what this man was fined for in Singapore

first_imgYou won’t believe what this man was fined for in Singapore Monday, May 27, 2019 SINGAPORE — If you’ve got clients heading to Singapore, you may want to warn them of the country’s strict litter laws.How strict? An unidentified man was just fined S$300 (approximately Can$295) for shooting two rubber bands that landed on a public road.The National Environment Agency (NEA), which issued the ticket on May 23, accused the man of throwing rubber bands in a public place, an offence under Section 17(1)(A) of the Environmental Public Health Act.“NEA enforcement officers observed a man walking towards his vehicle and shooting two rubber bands, on after the other, into the air,” the agency said as reported by Channel News Asia. “The rubber bands landed on the public road. Our officers thus informed him of the littering offence and issued him an enforcement ticket.”The NEA also added that the man “was cooperative throughout officers’ engagement with him.”This incident comes on the heels of another similar situation in which two men were fined S$300 each for leaving behind beverage cans at Singapore’s Woodlands MRT station.More news:  Venice to ban cruise ships from city centre starting next monthAccording to the NEA, “public littering has environmental consequences” and that “keeping our environment clean by not littering is a gracious and socially responsible thing to do.” Posted by Share Travelweek Group << Previous PostNext Post >>last_img read more

Related LBIA hopes to launch new flights to Europe

first_img RelatedLBIA hopes to launch new flights to European destinationsLeeds Bradford International Airport has said it hopes to secure new flights to Germany, Switzerland and ScandinaviaIslamabad flights at Leeds Bradford AirportDirect flights to Islamabad will soon be available from Leeds Bradford International AirportRyanair to add two new flights at Leeds BradfordRyanair has announced two new cheap flights to Spain from Leeds Bradford International Airport. Pakistan International Airlines will increase its number of flights to Islamabad from Leeds Bradford International Airport from two to three times a week.The increase will come into effect on March 30th, just eight months after the route was introduced.Pakistan International said that an increased demand from passengers in the Bradford and Yorkshire region is the reason behind the decision to launch an additional weekly flight.Tony Hallwood, Leeds Bradford’s commercial and aviation development director, said that the airport had been working alongside local business tourism and cultural organisations to “guarantee the success” of the flight.”We are delighted that the significant demand from the Yorkshire region is now being satisfied with an additional weekly flight,” he said.Manx2 said in January that it had enjoyed a 15 percent increase in demand for its flights to the Isle of Man from Leeds Bradford in the first two weeks of 2009 compared to the same period last year. ReturnOne wayMulti-cityFromAdd nearby airports ToAdd nearby airportsDepart14/08/2019Return21/08/2019Cabin Class & Travellers1 adult, EconomyDirect flights onlySearch flights Maplast_img read more

From Jim Rogers… to Marc Faber… to Congressman Ron

first_imgFrom Jim Rogers… to Marc Faber… to Congressman Ron Paul, this book is sitting on the desks of some of the world’s smartest thinkers…And for good reason, too.Inside you’ll find 47 ways to protect your wealth from the declining value of the U.S. DollarDiscover FIVE of those 47 ways for free, right here. Sponsor Advertisement This video clip probably got a fair amount of playing time with the JPMorgan et al crowd, the CFTC, the CME Group…and beyond.It was a pretty quiet trading day just about everywhere on Planet Earth on Monday.  The gold price got sold down about ten dollars by shortly after 10:00 a.m. Hong Kong time…and traded mostly above the $1,590 spot price mark right up until it’s low price tick of around $1,587 spot that came about five minutes before the 8:20 a.m. Eastern time Comex open.  Gold rallied from there, breaking through the $1,600 price mark around 10:50 a.m. in New York.  That proved to be its high tick of the day…$1604.40 spot…and every other rally attempt over the $1,600 spot market got quietly, but firmly turned aside.Gold closed at $1,596.90 spot…down $2.20 from Friday’s close.  Net volume was only 88,000 contracts…and about 10,000 contracts of that amount was a spread trade placed early in the Far East trading day.Here’s the New York Spot Gold [Bid] chart on its own, so you can see the micro-action around the $1,600 mark in New York trading.  Note the pre-Comex opening low…and the multiple attempts to break above $1,600 spot.  It was another day when gold’s closing price would have been much higher if left to its own devices.In Far East and early London trading, silver traded in a 30 cent price band…from around $29.50 to $29.20 spot…with its low of the day coming shortly before 1:00 p.m. London time, which was a few minutes before 8:00 a.m. in New York.  Then it looked like silver retested that low minutes before the Comex open.Ten minutes after New York began to trade, silver was back above its Friday close…and traded around that price until its spike high of $27.74 that came the same minute as gold’s high tick…about 10:40 a.m. Eastern.After that, the silver price never got above the $27.65 spot mark…and finished the electronic trading session at $27.52 spot…up a whole 3 cents from Friday.  Net volume was around 27,000 contracts.The dollar index opened where it closed on Friday…around the 81.60 mark.  It reached its Far East high [around 81.83] late in the morning Hong Kong time…and then rolled over to its low of the day [81.55] which came around 10:40 a.m. in London.  Then away it went to the upside.  The high was around 81.96 at 10:25 in New York…but 90% of the dollar index rally was in by 8:15 a.m…which was five minutes before the Comex opened for trading.  From there, the index slid a hair…and then traded sideways for the last six hours of the New York trading day, finishing around 81.87.The gold stocks sold off a bit at the beginning of the New York trading day…and their high came, naturally enough, at the 10:40 a.m. spike high in the gold price.  From there, the gold stocks got sold off to their low of the day, which was minutes before noon Eastern time.  After that they clawed their way back to almost unchanged by the close.  The good folks over at finance.yahoo.com that provide the daily HUI chart, obviously had some issues early in the day, but got them fixed in the few hours of trading.  The HUI finished down a tiny 0.11%.Most of the stocks in Nick Laird’s Silver Sentiment Index closed in positive territory, but the 3.85% decline in Pan American Silver dragged the SSI down as well…and it closed down 0.47%.(Click on image to enlarge)The CME’s Daily Delivery Report for the second delivery day in July showed that 6 gold and only 99 silver contracts were posted for delivery on Wednesday.  In silver, the biggest short/issuer was Merrill with 95 contracts…and biggest long/stoppers were JPMorgan and the Bank of Nova Scotia.  They stood for delivery on all 99 contracts issued.  The link to the Issuers and Stoppers Report is here.As of the preliminary report from the CME in the wee hours of this morning, there are about 2,400 silver contracts still open in July.There were no reported changes in GLD yesterday, but an authorized participant[s] withdrew an eye-watering 4,364,343 troy ounces of silver from SLV.  It’s hard to say whether that withdrawal was price action-related…or whether the silver was more desperately needed elsewhere.The U.S. Mint had a small sales report to start out the month of July.  They sold 2,000 ounces of gold eagles…and 269,500 silver eagles.The Comex-approved depositories reported receiving 599,997 troy ounces of silver on Friday…all of it into Brink’s, Inc.  The link to that action is here.Here’s a chart that Washington reader S.A. stole from somewhere yesterday…and it needs no further embellishment from me.  My first story of the day is on this subject.As per most Tuesdays, I have a lot of stories…and the final edit is, as always, up to you.Asia is accumulating Gold. Russia is accumulating Gold. “Backward” nations all over the world are accumulating Gold – on both an individual and a government level. While the “developed” world has developed an idea of monetary safety which turns all history on its head, the rest of the world is not going along with them. We’ll leave it to you to decide which are the credulous and which are not. – Bill Buckler, Gold This Week, 30 June 2012With such light trading volume in both metals, I wouldn’t read a lot into yesterday’s price action…although it was obvious that gold wasn’t allowed to breach the $1,600 spot price mark for more than a few minutes at a time.  Silver’s price was well contained below the $28 spot mark as well.But the story of the day yesterday was that CNBC panel discussion where all parties acknowledged that the silver market is rigged seven ways to heaven will, in my opinion, turn out to be a key moment in the history of the price management scheme in silver.  There’s no doubt it my mind that this video clip probably got a fair amount of playing time with the JPMorgan et al crowd, the CFTC, the CME Group…and beyond.  I would bet that there are forces now in play that can’t be stopped.How big a hammer blow this is may not show up in the silver price immediately, but it indicates to me that the silver fuse is definitely lit…and the end is getting closer with each passing day.As I mentioned in my Saturday column, the Friday COT report showed that the eight largest Commercial ‘traders’ in the silver futures market were short 3.27 times the net short position of 60 million ounces…a monstrous concentration held by a small handful of traders, dominated by JPMorgan.  This is what silver analyst Ted Butler had to say about it in his Weekly Review on Saturday…“It’s hard to express the true meaning in the proper words, but the ‘big 4’ now hold a short position that is 2.5 times greater than the total commercial [net] short position, an extreme level never witnessed in my memory. In many ways, even though the total amount of commercial shorts in COMEX silver has never been lower, it has also never been more concentrated than it is now. The true measure of manipulation is the level of concentration because concentration determines market control.”Well, it was an interesting trading session in the Far East on their Tuesday…and that positive trend is still in place now that London has been open for about two hours.  Gold is above the $1,600 spot price mark at the moment, but silver’s two attempts to move above $28 spot, ran into the usual not-for-profit sellers.  Gold volume is not overly heavy for this time of day, but silver volume is getting up there.  The dollar index has been pretty much ruler flat since the Far East open on their Tuesday morning.  And as I hit the ‘send’ button at 5:18 a.m. Eastern time, gold is up exactly twelve bucks…and silver is up 40 cents.Today, at the close of Comex trading, is the cut-off for Friday’s Commitment of Traders Report…and I must admit that I’m looking forward to Tuesday’s New York trading action with great interest.I’ll have a column tomorrow on the July 4th holiday…but it will be posted later in the morning, like it is on Saturday, so don’t expect it in your in-box at its usual time.last_img read more

Dear Reader Vedran Vuk here filling in for David

first_imgDear Reader,Vedran Vuk here, filling in for David Galland. First today, I’ll talk about adjusting your portfolio to minimize the damage from the political events around us. Then Bud Conrad will give us a comparison of today’s market to the Nixon-era political turmoil – it’s not pretty. Finally, I’ll touch on the youth vote in the recent election and how the US’s next generation is shaping up.Never Worry About Another Election AgainBy Vedran Vuk, Senior Analyst“Woooooooooo! Wooooooooo!” That’s what I heard all night from my neighbor’s election-night party. If the last four years are any indicator of the next four, then I’m not really sure what there is to be so excited about. Sure, some might prefer Obama a little more than Romney, and that’s fine. What confuses me is such excitement for an administration that has been such a failure.Well, my neighbor might have kept me awake Tuesday night, but I surely got him back on Wednesday morning. When I saw the market plunging 345 points on the DJIA, I’m certain he was awoken by my “Arrrrrrrgggggggg!!!!” followed by “$%#!!! #$%#%, E#%%!!!!!” Jokes aside, what a way to start the next four years. With the market crashing hard, it was one of those days where I’m glad not to be living on the top story of a high-rise.However, as the screen went red almost across the board, there was one ray of hope – gold. It was still holding its ground. With more problems ahead, the money-printing will continue and inflation will follow. And from there, gold will continue to rise. In a way, our obsession with gold at Casey Research is kind of weird. The same could be said of our readers who send us emails about inflation all the time.Think about it. We’re the ones always talking about the Federal Reserve and what the Fed is going to do next. We’re way more worried about it than almost anyone else. But should we be worried? Probably not. Well, why not? BECAUSE WE HOLD GOLD!!!! Duh!If the US experiences a hyperinflation, our subscribers are going to be the last ones in trouble’s path. In fact, it might be the greatest time of your life. While everyone’s paper assets turn into just that paper, you’ll be one of the few sitting on real wealth.The people who should be really freaking out are the ones who aren’t holding gold in their portfolios – it’s the portfolio owners who saw nothing but red after the election who need to worry.Here’s another worry to wipe out: gas prices. If you’re in the middle or upper class, you shouldn’t be complaining about gas prices. Why? Because you can do something about it! I’m going to come off as a bit of a jerk but I have to say this… every time WTI crude oil goes up, I’m a pretty happy guy. Why? Because the energy stocks in my portfolio went up as well.Am I some sort of evil profiteer? No; I realize that there is an energy problem in our society. And I don’t want to be a sitting duck when oil prices start rising yet again. I’m just doing what I have to do to protect myself – and that’s owning shares of energy companies.It’s ridiculous to just complain about gas prices and inflation – you can actually do something about these problems. Buy gold and energy companies. While these assets won’t guarantee keeping up with your personal expenses and gas prices and it can be a little tricky to match them exactly to your expenses, they are going to put you in a lot better position than those without them in the portfolio.The same goes for this election. Do you think that the US is going downhill faster than a snowball headed to hell? Well, do something about it. Invest in defensive stocks with an international base, diversify your assets overseas, and hold multiple currencies. We’re not sitting ducks here. You can take action to protect yourself from the meltdown.Does buying these sorts of assets guarantee your protection? No not necessarily, but let’s put it this way. When the economic hurricane comes rolling through, do you want to be the guy with a generator, plenty of diesel, ammo, flashlights, and weeks of food stocked up, or do you want to be the guy with three cans of tuna in the pantry and a single box of matches? When a natural disaster is coming, you have to prepare. What’s true for hurricanes is true for financial crises as well.On New Year’s Day, when the confetti is scattered on the floor and everyone is recovering from their hangovers, what do we usually do next? Make our New Year’s resolutions. Whether you’re picking up the confetti from your Obama re-election party or recovering from drinking away your newfound worries of the next morning, I want you to make a post-election resolution – much like the New Year’s one.Here it is: I will organize my portfolio and finances in such a way that I will never again have to nervously wait for the results on election night. Your hard-earned money shouldn’t depend on the voting decisions of a couple of bozos from Ohio and Pennsylvania. We can’t control everything about the world around us, but we can control far more risks than most people realize.How Far Could the Stock Market Fall?By Bud Conrad, Chief EconomistWe are heading back into a serious recession that will be similar to the crisis of confidence in 1974 with the Nixon impeachment. During Nixon’s landslide victory for a second term and the ensuing Watergate impeachment, I lived in Washington DC and watched the ensuing chaos with a front-row seat. The break-in of the Democratic national headquarters in the Watergate complex occurred before the election, yet it did not stop Nixon’s re-election.The country and Washington DC became accustomed to cover-ups and deceptive practices. Anger over Vietnam and the assassinations of respected leaders manifested into mass protests and arrests. I still remember tear-gas canisters in the streets of Georgetown. In a second, we’ll take a look at some charts showing just what this turmoil did to the stock market.Nearly 40 years later, the cover-ups haven’t stopped. Today, we have a cover-up of an assassinated ambassador and three others in Libya. If enough people ask questions – like Congressman Darrell Issa has been – about why there was weak security, we might even open a bigger can of worms, as this assassination is a bigger deal than most people realize. And again, much like with Nixon, the economic climate grows troublesome with high unemployment, growing future inflation concerns thanks to QE3, and the world economy slowing. As was the case back then, we’re a powder keg ready to blow. Remember the explosion of bad government regulations the last time around – like wage and price controls? I remember them all too well, as I was a consultant to the energy division of the Nixon administration’s Economic Stabilization Program Phase 2.Obama’s win gives a false sense of having resolved a key uncertainty. But the fundamental problems we face are bigger than one leader’s capability to solve them. No good answers are on the table for our budget deficits and endless wars. European peripheral countries struggle with 50% youth unemployment, leading to worries of money-printing and currency crisis. If we add an environmental catastrophe, such as a crop failure leading to food shortages, the world could face much bigger downturns than purely financial analysis can predict.The 1974 stock market crash was the second biggest compared to the crisis we went through in 2008. It was precipitated by political crisis more than financial difficulties. The Vietnam War and Johnson’s expansion of social services created deficits that at the time that seemed too large. Today, of course, we have political problems as well as financial problems. And this time around, the deficits don’t just seem large and unsustainable, they are too large and unsustainable. On top of that, Bernanke and Greenspan have spent every bullet in the arsenal to avoid short-term disaster. While in the ’70s we still had a box of bullets, we’re now running on empty – and the enemy is closing in on our foxhole.Since 2000, we have had two crises – one being the dot-com bubble, and the latest is the housing bubble. As the financial crisis gets worse, so will the political backlash and the disruptions in society. This scenario suggests much higher inflation, disenfranchisement of workers, and government oppression to maintain control.The chart below shows some of the effects of key moments of political turmoil on the stock market, as well as the relationship of those changes to the Purchasing Managers’ Index. This Index is one of the most reliable indicators of the country’s growth in manufacturing output and thus the growth of GDP. It comes from surveying purchasing managers as to whether the economy is improving or getting worse on a number of measures like orders, shipments, exports, prices paid, etc. The composite of these measures is provided monthly and is not revised. It is not a government number, so it is not vulnerable to manipulation to make the story fit the political agenda. It can provide an early warning of a slowing economy and can be useful for interpreting what might happen to the stock market.(Click on image to enlarge)The specifics of the Nixon-era stock collapse are shown in close-up in the chart below. It could happen again. The polarization of our factions is now back at the levels of that era, and there are no signs of it diminishing.(Click on image to enlarge)In the most recent issue of The Casey Report, I have an extensive piece on the importance of the Purchasing Managers’ Index (PMI) and other measures for the US and many others countries – some of the results may surprise you as they surprised me. The analysis led me to change my view of where our economy may be heading. For more on that, make sure to check out the latest Casey Report.Besides our own political problems, there are a whole list of countries ready to erupt into turmoil, including Libya, Syria, Afghanistan, Pakistan, Somalia, and Iran. Add the likelihood of an environmental destabilization of, say, some big crop failure to our recurring financial crisis, and the probabilities are even higher that the next year or two will be very bad on several dimensions.And that’s just half the problems on our plate. Here are a few more to consider over the next two years: the US fiscal cliff and continuing budget deficits; a collapse of the European currency union; and an Asian hard landing.There are many links between politics and money. I fear we will see some serious problems ahead because we haven’t fixed anything and the only actions our leaders seem to know how to take are to expand the money supply.The worldwide money-printing by central banks to fund government overspending is close to reaching its conclusion. When governments run out of stimulus to prop up their financial sectors and to placate the masses, then things really start to unwind.I am of the opinion that money will be inflated out of existence by corrupt governments and central bankers, so we should be buying physical assets like farmland, houses, commodities, precious metals, and energy. We should avoid bonds or any fixed-dollar return like bonds. In a way, one wishes that a single president or re-election could make all of these things go away, but that’s just not going to happen. The world’s problems are now much bigger than the presidency, and they continue to pile on in a similar way to what we witnessed during the ’70s.What’s Going on with the Kids Today?By Vedran VukIn looking to the future of the economy, we have to consider the next generation. Unfortunately, that generation just opted to vote for more government yet again, with about 60% of the youth vote (ages 18-29) going to Obama and 36% for Romney.I’m not saying that Romney was some sort of economic messiah. In fact, he was terrible as well. Rather, what I’m trying to gauge here is if the kids are waking up to the fact that the policies of the last four years have been pretty ineffective. Apparently, many haven’t caught on.You would think that this age group – that has had it pretty rough in the recession, with double-digit unemployment rates – would be the last ones to vote for Obama. Furthermore, even the college kids who have jobs often aren’t working in their fields of study. In this tough market, one would expect more angst toward the present administration.That said, the vote has slightly changed. In 2008, 66% voted for Obama and 31% for McCain. So apparently, a few of them are connecting the dots that Obama has not made them better off; or those who have moved in to voting age are more economically aware than those who remained in it or moved out of it. The even smarter kids probably connected the dots that Romney wasn’t going to do much for them either. Nonetheless, how do we explain the still-strong support for bigger government?Since I’m on the far end of the youth age group, I still have the pulse of these things, so let me share what I see going on. First of all, the 18-23 age group – college kids – are as brainwashed as ever. It’s the same story that has been around for years. They’re idealistic kids who, with their professors holding their hands, are happy to pull the lever for the left. They just don’t get how bad things are out there. It usually takes getting to the 300th résumé before that idealism behind “hope” and “change” starts to fade away.But what about the young kids like myself who have been out there in the workforce… who did fill out hundreds of job applications… what are they thinking? This is the most interesting group. In many younger friends, I see something happening similar to the polarization of war veterans.Have you ever noticed how polarized veterans’ opinions become after coming back from war? They either come back more gung ho than ever, putting a flag in the yard and supporting the most pro-war candidate or they come back the complete opposite – they see the wars as complete BS and become lifelong anti-war advocates. There are some people in the middle as well, but more often than not, soldiers seem to go the extremes of each side. When faced with traumatic life experiences, people often deal with them by going to an extreme.I see the same thing happening with this generation’s reaction to vast unemployment – they have been shell-shocked into the extremes. When times got tough, one group of kids got tougher. Many of my friends have unbelievable work ethics; they could give Third-World sweat-shop workers a run for their money. Furthermore, they’ve hunkered down by saving money and living very frugally. Their lifestyles make their Baby Boomer parents look bad. The older generation always tends to demean the younger, but in this case, there’s a portion of the current generation that’s tougher and better than the one before it. I emphasize “portion” for a reason. There’s the other portion to consider.When you’re filling out that 300th résumé, there are two ways to react. You either get tougher, or you start seeing the world as completely unfair. You can lose sight of the connection between effort and results. I understand how this can happen. There are lots of smart, hard-working kids out there who can’t land jobs. I’m not talking about the C-student sociology majors here. To many, the job market now looks like a rigged game of connections, rather than a meritocratic system. If you’re smart, hard-working, and still can’t get a job, how are you supposed to develop an appreciation for the capitalist system?These kids got tougher too, but in a much different way. They see the world as unfair. And since the world is unfair, they have no problem taking from others. Why feel bad about it? When your viewpoint has lost the connection between effort and results, everything looks like luck. To some extent, you can see their perspective. If one graduated even in 2006 or 2007, they are light-years ahead in their careers in comparison to those finishing school 2008 and later. The 2006 class got on the ladder with an entry-level job; the 2008 kids didn’t. It’s a hard case to make that the 2008 grads are lazier than the 2006 grads. The difference between the groups has a lot to do with luck.Here’s the problem with this. If wealth is seen as just the lucky circumstance of being born into better times rather than the result of effort and ingenuity, then it’s easy to not feel bad about redistribution. Despite the Obama administration’s failures thus far, this growing life philosophy is one of the reason for growing support for big government among the youth.However, there’s another side of the coin, like the Ron Paul movement. Guess who were the biggest supporters of Ron Paul’s extremely free-market views? It wasn’t the Reagan generation. An enormous amount of his support came from the youth. This is that polarization that I’m talking about. One part of the generation is Ron Paul crazy, the other is Obama crazy.Is this a good sign for the country down the road? Yes and no. It really depends what faction wins. If the fiscally responsible and hard-working part of the youth takes over in 20 or 30 years, we might see administrations that would make Ronald Reagan look like a communist. If the other side gains dominance, we might look back at Barack Obama as a free-market champion. It’s still up in the air; and the next few years are going to be instrumental in shaping this generation’s experience.Friday FunniesAnd now for a few funny political bumper stickers as we say goodbye to the 2012 campaign. I threw in a few Democrat ones and a few Republican ones, but all good enough for a chuckle. One more thing before we go: there’s a new Casey Phyle forming in Cafayate, Argentina. Anyone interested please send an email to phyle@caseyresearch.com. Thank you for reading and subscribing to the Casey Daily Dispatch. See you next week.Vedran VukCasey Senior Analystlast_img read more

A Tale of Neighboring Countries and Their Very Different LegalMarijuana Banking Systems

first_imgCannabis –shares Federal law all but requires legal marijuana to operate strictly in cash, while in Canada banks are helping that nation’s cannabis industry boom. 3 min read Opinions expressed by Entrepreneur contributors are their own. Add to Queue Image credit: Nastasic | Getty Images Easy Search. Quality Finds. Your partner and digital portal for the cannabis community. Next Article Keep up with the latest trends and news in the cannabis industry with our free articles and videos, plus subscribe to the digital edition of Green Entrepreneur magazine. dispensaries.com Guest Writer Springfield Bank of Illinois pulled out of working with legal medical marijuana companies in the state this month, leaving many businesses working on a cash-only basis while scrambling to find another banking partner. The bank tied the move directly to actions taken by U.S. Attorney General Jeff Sessions earlier this year, rescinding Obama-era rules that essentially kept the federal government from interfering in states where marijuana is legal.Meanwhile, in Canada, just the opposite is happening. The Bank of Montreal already is involved in two deals with legal marijuana companies and TD Bank Group is considering involvement as the country prepares to make cannabis legal nationwide this summer for both medical and recreational use.TD Bank Group CEO Bharat Masrani told The Canadian Press that national legalization is an “important data point.” He said TD Bank Group is actively studying cannabis investment in the cannabis industry. Both TD Bank Group and the Bank of Montreal are among the “Big Five” banks in Canada.Related: Baby Boomers Support Medical Marijuana but SkepticallyActions Backing WordsThe interest of Canadian banks in backing the legal marijuana industry took off in January, when the Bank of Montreal backed a $175 million stock-purchase deal to raise cash for Canopy Growth. Technically, the Bank of Montreal did the deal through a subsidiary, BMO Capital Markets, along with co-lead underwriter GMP Securities. Based in Ontario, Canopy is Canada’s largest licensed producer of medical marijuana. Importantly, they have no business dealings in the U.S.Speaking about the potential of entering deals with cannabis companies, Masrani said TD Bank Group will not consider any deals with companies that have a presence in the U.S. A few weeks after the Canopy Growth deal, BMO Capital Markets was named in a similar deal involving marijuana producer Cronos Group.Related: How to Stand Out From the Crowd: Entrepreneurial Lessons from Jeff the 420 ChefMeanwhile, In Springfield.Legal medical marijuana companies in Illinois may now have to deal in cash after the main bank for the industry, the Bank of Springfield, announced it was pulling out of the industry. The decision came after Sessions’ decision to rescind the Cole Memo.It is one of the few concrete consequences, so far, of Sessions’ actions.To be fair, the Bank of Springfield was something of an aberration. Most banks have refused to extend services to the marijuana industry because cannabis remains illegal at the federal level. Frustrated leaders in California are even considering setting up a state-run bank to serve the industry.There were about $8.5 million in medical marijuana sales in Illinois in February alone, according to state numbers quoted in the Chicago Tribune.Ross Morreale, co-founder of Ataraxia, a company that runs a cultivation facility and co-owns three dispensaries, told the Tribune: “This is the closest we’ve been to being without banks in Illinois in this industry … which isn’t good. It makes everything more difficult.”For the bank, it was a process of doing a risk assessment given Sessions’ action. The bank could not jeopardize customers working with businesses “in the legal gray zone,” a bank spokesman told the Tribune.To stay up to date on the latest marijuana related news make sure to like dispensaries.com on Facebook Free Green Entrepreneur App April 12, 2018 A Tale of Neighboring Countries and Their Very Different Legal-Marijuana Banking Systems Download Our Free Android Applast_img read more