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first_imgCommissioner Tamba giving details about Customs contribution to budgetThe Commissioner General of the Liberia Revenue Authority (LRA), Elfrieda Steward Tamba has disclosed that of the US$200 million Customs must contribute to the national budget, $104 million has been collected which constitutes 52% of the total contribution.Mrs. Tamba made the disclosure on Friday, January 26, 2018 in her remarks during observance of International Customs Day at the Monrovia City Hall.On July 18, 2017, the House of Representatives approved the total of US$563.6 million as national budget for 2017/2018, which lasts from the day of approval to June of the following year.Customs is government’s department responsible for collecting tariffs or duties on imported goods.In furtherance of her remarks on Customs, the LRA Commissioner General said as Customs Organizations around the world are encouraged to take stock of their work and consider other factors that enhance trade facilitation.In compliance with this duty, she noted that Customs in Liberia contributes 42% to domestic revenue in the national budget.Customs Officers assembled at the programAdditionally, she said Customs officers and brokers by extension are to ensure that collections at the various bordering points are lawful, fair and safe and free of territorial threats.Bearing in mind that Customs’ performance must be characterized by integrity in conformity with international best practices and standard, Mrs. Tamba said Liberia has commenced some transformation processes that will enhance this benchmark.Among those transformational steps taken are the introduction of new version of the Automated System for customs Data (ASYCUDA), training and testing of users of this technology (ASYCUDA), and capacity building and technical assistance provided by the European Union.The ASYCUDA technology, which Mrs. Tamba says requires the necessary infrastructures and technical support, is expected to get customers graduate from calling for declaration to using paperless technology to declare their goods anywhere via the Internet.She used the occasion to call on all stakeholders including government and international partners to render the support that will enhance the modern technology needed nowadays at Customs to ensure transparency and integrity in doing cross-border business.Regarding strides Customs and the LRA have made at some levels, Liberian businessman and keynote speaker of the International Customs Day celebration in Liberia, Amin Modad, said, “I’d be remiss if I don’t congratulate the LRA and you, our customs officers, for your evolution over the years and the role this body plays in sustaining the economy and supporting development.  Ladies and gentlemen, if you look back to the state of the Bureau of Customs 12 years ago, if you look at the level of integrity, current conditions, and dismal progress made by other agencies of government, and if you understand just how much the functioning of the Liberian Government depends on customs receipts, you will join me in recognizing that the LRA has become an example to follow.”Meanwhile, the celebration on January 26 marked the 66th International Customs Day since its launch in 1953.The day was observed under the theme, “A secure business environment for economic development.”  According to World Customs Organization (WCO) newsletter, members of the WCO are encouraged to look at how they can create an environment of businesses that will foster their participation in cross-border trade and how they can best serve the people and empower entrepreneurs.“By “secure,” we mean an environment that is enabling, safe, fair and sustainable, all wrapped into one. Such an environment will help businesses, especially micro, small and medium-sized enterprises (MSMEs), to expand their activities and create incentives for them to participate more fully in international trade, as well as encourage them to innovate, generate employment and invest in human resources, thereby boosting economic growth and raising living standards,” WCO said.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

first_imgThe opening of the Medical 5 unit at Letterkenny General Hospital is now expected to take place on Tuesday next.Letterkenny General HospitalThe 18 bed unit was due to open almost a month ago but management have blamed a lack of staff for the delayed opening.However Donegal Daily understands the unit will now open on Tuesday bringing much-needed relief to the struggling hospital. Staff at the hospital have been trying to cope under severe pressure in recent days with a number of patients being treated in corridors and on wards.The hospital was yesterday named the busiest hospital in the country by the Irish Nurses and Midwives Organisation.One staff member with two decades experience at the hospital said she had never seen the hospital so busy.  OPENING OF ‘MEDICAL 5’ TO RELIEVE PRESSURE AT LGH NEXT WEEK was last modified: July 31st, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalLetterkenny General HospitalMedical 5last_img read more

first_imgQuebecor World, one of the world’s largest printers, has reached an agreement with its creditors that it says will allow the company to emerge from bankruptcy protection.The agreement, Quebecor said, is based on the terms of a consolidated restructuring plan that is intended to recapitalize and “substantially deleverage” the company from its pre-filing levels. Quebecor filed for bankruptcy protection in January 2008. The announcement came one day after Quebecor World’s deadline for $400 million (Canadian) in a rescue financing deal with Tricap Partners passed without an agreement.Quebecor said it plans to file an official plan of reorganization in Canada and in the U.S. by the end of April. The company also said it hopes to exit creditor protection as early as mid-July.”This is very positive, especially because it is a concensus agreement by all the creditors committees and is an important step in the company’s progress to exit creditor protection in July with a strong balance sheet—and as a strong player in our industry,” spokesperson Tony Ross told FOLIO:. In connection with the restructuring, Quebecor said it anticipates having to arrange exit financing at levels below its current debtor-in-possession financing facility.Last month, Quebecor reported a net loss from continuing operations of $943.9 million for 2008 compared to a net loss from continuing operations of $1.8 billion in 2007. The results included $165.9 million in taxes.last_img read more

first_imgWILMINGTON, MA — Now that school is open, the Wilmington Student Support Services Department would like to inform interested people about the services provided under State and Federal Special Education regulations.A variety of services and programs are available to students between the ages of 3 and 22 who have been suspected to have educational difficulties, social/emotional concerns, and/or physical challenges. This law provides for in-depth child evaluations, and appropriate treatment and support services.The Student Support Services Department would like to emphasize the availability of programs and services for 3 and 4 year olds as well as children between the ages of 16 and 22.  Support services available to all school age children include: pre-school programs, counseling as well as remedial instructional programs at all schools.For more information about rights and services, contact your building principal or the Student Support Services Department at 978-694-6032.(NOTE: The above announcement is from Wilmington Student Support Services.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedSuperintendent Reorganizes Student Support Services Department; Special Education & Nursing Depts. To BenefitIn “Education”Wilmington Public Schools Receives $750,000 Grant To Improve The Health Of Its StudentsIn “Education”NOW HIRING: Wilmington Public Schools Hiring Coordinator Of Special EducationIn “Education”last_img read more

first_imgFinance Ministry officials had said the government could raise about 10-15 per cent of the proposed Rs 7.1 lakh crore government borrowings this fiscal through sovereign bonds. TwitterThe Prime Minister’s Office (PMO) wants the Finance Ministry to re-look the idea of issuing foreign currency overseas sovereign bonds and critically examine issues raised by former bankers and economists before taking any call on implementing the budget proposal.The PMO has asked the ministry to seek more consultation from stake-holders before proceeding with any plans. Finance Ministry officials had said the government could raise about 10-15 per cent of the proposed Rs 7.1 lakh crore government borrowings this fiscal through sovereign bonds.The chief architect of the proposed bond was the former Finance Secretary Subhash Chandra Garg and he had a lone supporter in this campaign. Chief Economic Adviser Krishnamurthy Subramanian had said this is the right opportunity for India to raise funds through overseas sovereign bonds at a much cheaper rate, compared with those in the domestic market.Garg has since been moved to the Power Ministry and the sudden move just after the Budget presentation and its approval by Parliament is being seen by many paying the price for pushing the idea of foreign money into India by a government led by a largely nationalist, right-wing party where the ‘swadeshi’ card evokes sentiments. The former Finance Secretary is being seen as hurting such sentiments, while former RBI Governors and other experts shot down the idea as risky.The opposition to the proposed bond is widespread. The government should not issue foreign sovereign debt without getting into larger public consultations, and the many arguments it has given in favour of issuing such securities do not hold, Rathin Roy, member of the Economic Advisory Council to the Prime Minister, had recently said.He said government should pay attention to what several former Governors of the Reserve Bank of India are saying, the sovereign liabilities are in perpetuity.Roy also dismissed the contention that such bonds are cheaper after the hedging costs are added. Noting there was a reason why the country hadn’t issued overseas debt for 70 years, he had said that Brazil, Argentina, Turkey, Greece, and Indonesia had all paid a price for foreign currency sovereign borrowings.”I have grave concerns about this proposal on grounds of economic sovereignty, and about the macroeconomic consequences… the government should instead look at relaxing the rupee bond limits for foreign portfolio investors,” Roy said.Former RBI Governors Raghuram Rajan, C. Rangarajan and Y.V. Redy and former Chief Statistician Pronab Sen had also raised concerns over the Finance Ministry’s proposal.Rajan has said that any plan to issue foreign currency debt has no real benefit and is fraught with risks. A global bond sale won’t reduce the amount of domestic government bonds the local market has to absorb and the country should worry about short-term “faddish investors buying when India is hot, and dumping us when it is not”, he had written in a newspaper column.Rangarajan has said that borrowing in foreign currencies may expose the economy to risks as the rupee’s depreciation or current account deficit cannot be contained in the long run. Former Finance Minister Yashwant Sinha has said that even in the face of the 1991 balance of payment crisis, the government did not go for sovereign bonds.The main fear is as they argued it could create long-term economic risks by exposing the government’s liabilities to currency fluctuations.All of these experts had suggested issuing rupee bonds instead of foreign currency bonds.In an interaction with IANS, Ashiwini Mahajan, the co-convenor of the RSS-affiliated Swadeshi Jagran Manch (SJM), said: “About 95 per cent of the experts are saying the move is risky. The average depreciation in the rupee is 6.23 per cent in the last few years. The overseas rates of interest is 3.25 per cent, so together it makes 9.5 per cent.”In India, the government borrows at 6-7 per cent. So how the foreign currency bonds are cheap? The whole idea of a sovereign bonds is bad idea for any other country, not just for India. Everywhere the sovereign borrowing has led these countries into the debt trap, into the vortex of debt. It is a risk not worth taking. It is a foolish idea.”The benchmark 10-year bond yield rose as much as 11 basis points to 6.55 per cent after the news of a rethink of the proposal, as market participants fear this may boost government borrowing in the domestic market.Finance Minister Nirmala Sitharaman, in her maiden Budget speech on July 5, had announced: “India’s sovereign external debt to GDP is among the lowest globally at less than 5 per cent. The government would start raising a part of its gross borrowing programme in external markets in external currencies. This will also have beneficial impact on demand situation for the government securities in domestic market.”Garg had told Indian business leaders last week that the overseas debt move was part of efforts to bring down real interest rates for Indian firms, and to help the economy grow faster.last_img read more

first_imgAP Photo/Eric Gay, FileFILE – In this Sept. 10, 2014, file photo, detained immigrant children play kickball at the Karnes County Residential Center, a temporary home for immigrant women and children detained at the border in Karnes City, Texas. The GEO Group, a private prison company, announced Thursday, April 13, 2017, it has won a $110-million federal contract to build in Texas the first new immigrant detention center under the Trump administration. The company said that the 1,000-bed detention facility will be in Conroe, Texas, north of Houston. It’s scheduled to open by December 2018.A private prison company announced Thursday it has won a $110-million federal contract to build in Texas the first new immigrant detention center under the Trump administration.The GEO Group said that its 1,000-bed detention facility will be in Conroe, north of Houston, and will open by the end of next year. The facility coincides with President Donald Trump’s promised expansion of immigration detention, part of a larger crackdown on immigrants in the country illegally that includes detaining people seeking asylum while they go through immigration proceedings.U.S. Immigration and Customs Enforcement already has a record of more than 41,000 detainees.The agency has also identified an additional 21,000 unused beds that it plans to use for detention, according to a memo reported Wednesday by the Washington Post. That memo notes that “ICE will be unable to secure additional detention capacity until funding has been identified.”GEO, ICE’s second-largest private prison contractor, has approximately 3,000 empty beds nationwide, according to a February investor call.Faced with a lack of funds and potentially thousands of empty beds, ICE’s move to secure a new contract with GEO surprised immigrant rights advocates.“This is totally unprecedented,” said Silky Shaw, Co-Director of Detention Watch Network, a Washington-based non-profit fighting to end immigrant detention. “Even the most recent expansion we’ve seen has been county jails and repurposing facilities that have been shuttered.”Trump has instructed ICE to detain all individuals suspected of violating immigration laws.“Aliens who illegally enter the United States without inspection or admission present a significant threat to national security and public safety,” the president said in a Jan. 25 executive order asking ICE to “allocate all legally available resources to immediately construct, operate, control, or establish contracts to construct, operate, or control facilities to detain aliens at or near the land border with Mexico.”Still, Carl Takei, Staff Attorney for the American Civil Liberties Union’s National Prison Project, said the contract was a “sign that the Trump administration’s plans are a huge boondoggle for the private prison industry,” which already operates about 75 percent of immigrant detention facilities.Takei said the new facility’s location was also striking, given that GEO already operates the 1,517-bed Joe Corley immigrant detention center in the same small town.“Frankly this surprises me … This raises the question both of how much ICE is actually planning to expand its already enormous detention system and where they’re going to get the money for all this,” Takei said. “ICE has a pretty limited amount of money and they can’t fund expanding detention in 2017 unless Congress passes supplemental appropriations.”GEO referred all questions to ICE, which did not return requests for comment.Texas getting first immigrant center built under Trump Sharelast_img read more