How to coach foreign talent

first_imgAs an expanding European Union Brings a new pool of talent to employers inthe UK, Margaret Kubicek asks how foreign workers are bring prepared to dotheir jobsThe chronic skills shortage facing UK employers, particularly in sectorssuch as construction, health and hospitality, is showing no signs of abating.It’s not surprising, then, that many employers are looking abroad to expandtheir talent pool – something that will become easier with the accession of 10new countries to the European Union last month. A recent survey by recruitment specialists Barkers, found that while only 39per cent of employers had firm plans to recruit from accession countries, morethan double that amount – 72 per cent – see enlargement of the EU as a steptowards a greater global flow of labour. This suggests that training will takeon an increasingly international dimension. We ask what employers need toconsider when planning training for overseas recruits. Yvonne WimbletonAssistant director of nursing, Guys and St Thomas’ NHS TrustAll nurses that we recruit from overseas must undertake a period ofsupervised practice for up to six months to get up to speed with regulatoryguidelines and the framework of practice within the NHS. They also have cultural diversity training covering communication skills –not English language, but body language, eye contact, those sorts of things.The police also come in and talk about personal safety and the main elements ofrisk here that might not be an issue in their home country. General advice is given on opening a bank account or registering with a GP.And there’s time built in for discussion of issues – it’s all very wellbuilding a structured training programme, but they need to be able to askquestions that may seem daft but are essential in terms of settling in. Nurses also have mentors on the wards who are responsible for discussingprofessional issues and we also have clinical facilitators who take on apastoral role. Our last group had an ‘away-day’ of leadership training led by a managementconsultant to get them used to working as a team. In various countries, nursesare used to following the doctors’ orders, but we’re trying to teach them thatthey are responsible for their own practice. Nick IslesAssociates director, The Work FoundationTraining will need to address how you are going to integrate people fromdiverse backgrounds into a multicultural environment, like the constructionindustry. Arguably, you need some sort of inclusion strategy. For example, youmay want to provide English language lessons, but there’s also the need formore sophisticated cultural training. John GuthrieHead of international management development, Hilton GroupAs part of the Hilton online university, we’ve joined forces with a globalonline English language provider called Global English. There are a number of team members throughout the world who are givenlicence to learn English online. That’s a tremendous life skill. Language isthe glue that binds us together, and it gives a great opportunity to overseasworkers to progress their careers within the company. Louis ArmstrongCEO, Royal Institution of Chartered SurveyorsA skills shortage in many UK industries is here to stay, for better orworse. Demographic and economic factors mean that industry will relyincreasingly on controlled immigration of labour and skills from abroad to fillthe gap. This is inevitable and indeed desirable if the Government’s infrastructureand housing targets are to be met. The construction industry would do itself ahuge favour by helping employees learn the language of the country in whichthey are to live and work. This would result in a safer and more productiveworkforce and should be devised to cover the specialised technical andprofessional communication required by a particular industry. Robert PeasnellManaging director, Barkers LondonTraining should include an understanding of social issues that most of ustake for granted. Integrating workers from abroad is going to involve inductingthem culturally into the UK and just helping them settle in a bit more easily.You’ve got this inevitable cultural adaptation that’s going to have to takeplace and to a degree, that mitigates against [foreign workers] being seen as aquick fix to fill skills gaps. Employers will need to assist with things likefinding a place to live, helping them open UK bank accounts – almost a ‘Welcometo the UK’ pack. It’s a lot of basic, almost administrative, support, but it’sgoing to help them focus on doing their job. Sue LabettCorporate services manager, Oxfordshire Fire and Rescue ServiceIt can be quite difficult to carry out the mandatory health and safety trainingfor foreign workers. It may take longer than usual and because of the legalrequirement, you may need to provide an interpreter. You need to be very particularwhen you’re undertaking that kind of training that everyone understands itfully. It’s about being flexible as an employer, for example, allowing a longerprobation period. We’re taking more care, doing more checking and includingmore exercises for overseas workers in the process. Related posts:No related photos. Comments are closed. Previous Article Next Article How to coach foreign talentOn 1 Jun 2004 in Personnel Todaylast_img read more

These were the largest Manhattan real estate loans in April

first_img Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Share via Shortlink Tags ManhattanMortgagesReal Estate Finance From left: 909 Third Avenue, 79 Fifth Avenue, 240 West 37th Street and 27 East 62nd Street (VNO, Cercone Exterior Restoration, Google Maps)The 10 largest Manhattan real estate loans recorded in April totaled about $790 million, less than half of March’s total.Once again, the commercial mortgage-backed securities market produced the month’s largest loan: a refinancing for a Midtown office tower on top of a USPS warehouse. It was also the month’s only loan of more than $100 million.Here were the borough’s largest real estate loans in April:1) You’ve got mail | $350 millionVornado Realty Trust secured a $350 million refinancing for 909 Third Avenue from Citi Real Estate Funding, Bank of America and BMO Harris. The property has a 490,000-square-foot warehouse at its base, which serves as the United States Postal Service’s main mail processing facility in New York City. Major tenants in the office tower include advertising firm IPG DXTRA, pharmaceutical company Forest Laboratories and wealth management firm Geller & Company.2) Flatiron funds | $62 millionCitibank provided a $62 million refinancing for 79 Fifth Avenue, an 18-story office building in the Flatiron District owned by A&R Kalimian Realty. Tenants at the property include French consulting firm Capgemini and the New School. The financing replaces $45 million in debt held by Wells Fargo and adds a $17 million gap mortgage.3) (tie) Signature move | $60 millionRay Yadidi’s Sioni Group refinanced the 10-story office building at 240 West 37th Street in the Garment District with $60 million from Signature Bank. The building’s tenants include the German intelligence platform Atheneum Partners and digital marketing agency Likeable Media. Isaac Chetrit reportedly owns a stake in the property as well, having teamed up with Yadidi to buy it in 2007 to avoid a bidding war.3) (tie) MacAndrews mortgage | $60 millionBank of America provided $60 million to refinance the office building at 27 East 62nd Street in Lenox Hill, owned by Ron Perelman’s MacAndrews & Forbes. The former 30-unit rental building was converted into offices in 2018, and received a $110 million loan from Citibank that year. Perelman’s firm also sold two properties on the same block to the Chapman Group for $35 million last month.5) Escape ladder | $51 millionR&B Realty Group staved off the foreclosure of two Midtown office buildings at 28 West 36th Street and 32 West 39th Street with a $50.8 million loan from Ladder Capital. The financing paid off two defaulted loans that Signature Bank had sold to Maverick Real Estate Partners, which were the subject of a lawsuit in February. According to the suit, rent collections at the properties had fallen below 40 percent due to the pandemic.6) Canaan collateral | $48 millionOrix Real Estate Capital provided a $48 million loan to Avenal Development & Construction for the Canaan IV Towers at 95 Lenox Avenue in Harlem, a 322-unit family low-income apartment complex subsidized by HUD. Signature Bank previously provided a $11 million loan for the property in 2014.7) Condo cash | $48 millionTegor Property S.A., a Swiss corporation that owns unit #ST76 at the Time Warner Center, refinanced the residential condo with $47.8 million from Citibank. The société anonyme acquired the unit for $43 million in 2003, according to property records, and received a $37.5 million mortgage from JPMorgan Chase in 2011.8) Cathay construction | $43 millionCalifornia-based Cathay Bank provided $43 million in construction financing for Eastern Star Development’s 80-unit condo project at 300 West 30th Street in Chelsea. The Flushing-based developer, led by Anthony Hu, acquired the former Chelsea Riff Hotel for $27.5 million in 2018. The firm is also behind the 182-unit Star Tower condo project in Long Island City, where closings began in 2019.9) Friedman finance | $39 millionRobert Friedman’s Friedman Management secured a $38.5 million refinancing from Sterling National Bank for a portfolio that includes a 121-unit co-op at 50 East 8th Street in Greenwich Village, a 57-unit rental building at 401 West 22nd Street in Chelsea, a 48-unit rental property at 404 East 75th Street on the Upper East Side, and the non-residential portion of a 16-story mixed-use property at 360 West 22nd Street in Chelsea.10) Carter conversion | $33 millionRaith Capital Partners provided a $33 million financing package to Jason Carter’s Carter Management for a condo conversion project at 305 East 61st Street in Lenox Hill. Carter acquired the former storage facility out of bankruptcy for $51.4 million last fall. The prior owner, Mitchell Marks, had targeted a total sellout of $105 million for the eight-unit condominium.last_img read more

Zoopla delivers record number of appraisals to agents

first_imgHome » News » Zoopla delivers record number of appraisals to agents previous nextProducts & ServicesZoopla delivers record number of appraisals to agentsZoopla announces that it delivered record levels of appraisal leads to its agent members in the first half of 2015.JUNGLEdrum16th July 20150571 Views Zoopla Property Group’s (ZPG) appraisal tool, which allows homeowners to directly contact prospective local agents to arrange a valuation of their property, delivered record levels of appraisal referrals to ZPG members in the first half of 2015, according to ZPG.ZPG reports that since January, prospective vendors and landlords have already sent in excess of 135,000 enquiries to ZPG member agents requesting appraisals, up 40 per cent on the corresponding period in 2014, and potentially worth in the region of £100 million in fees, based on Zoopla’s calculations, from resulting instructions so far this year.Given that the vast majority of property searches now start online, it is perhaps unsurprising that more prospective vendors are using the ZPG appraisal tool to contact local agents about selling their home.“Home movers are increasingly using our websites to identify and select local agents for valuation purposes,” said Jon Notley (left), Commercial Director at ZPG.Mr Notley says that these figures demonstrate his firm’s ongoing commitment to aiding its members in their efforts to winning new valuable business.He added, “Any agent not on our platform and therefore not visible in our unique appraisal tool will be losing out on these valuable leads and instructions as well as missing out on insight into those in their local market who are looking to move. The record level of appraisal leads and instructions we are delivering once again highlights the exceptional value we offer our members.”Only last week, Zoopla Property Group (ZPG) launched its Real-Time Listings Service, enabling its members to send updates to property listings on ZPG websites within minutes of being updated on the agent or developer’s system or website. The service has been launched initially with Property Software Group (PSG), starting with Alto and will be followed by the roll-out across other PSG products Jupix, CFP and Vebra Live over the coming weeks.Commenting on the Real-Time Listings Service, Jon Notley said, “We are delighted to be launching our Real-Time Listings Service. In a world where consumers expect instant updates, this service offers our members the chance to stay ahead of the competition and ensure their listings go live within minutes of the instruction. We look forward to rolling this out over the coming months.”portal Jon Notley Real-Time Listings Service online agents agents appraisal referrals Zoopla July 16, 2015The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Speech: UKRI Research and Innovation Infrastructure Roadmap launch

first_imgAnd of course, at a global scale there are a different set of challenges, ones crying out for solutions grounded in technology, science and research: from climate change to how to deploy automation and AI to antimicrobial resistance.To shape the future, we need a planI am of the view that if you want to shape the future, you need to do more than worry. You need to act, and for that you need a plan.Part of having a plan involves having goals. This is why in the government’s Industrial Strategy has set out a number of grand challenges: areas of societal, global importance where we believe technology and innovation can help us solve some of the most pressing problems facing the world.It is also why we have set out a commitment to encourage investment in R&D. In other fields, the government has set clear targets as a sign of our aspiration. We show our commitment to our country’s security by spending the NATO target 2% of GDP on defence. We show our commitment to our international obligations by spending the UN aid target of 0.7% of GDP. And now, in the Industrial Strategy White Paper, we are signaling our commitment to the future of our country and the world through our goal to increase UK R&D spending to 2.4%. This is an ambitious target: an increase of two-thirds. We have begun this process with the biggest increase in public R&D funding for 40 year, ensuring that public spending on R&D will rise in every year of this parliament to around £12.5 billion in in 2021/22.As part of this investment in R&D, I’m pleased to announce – in addition to the launch of the Infrastructure Roadmap – the allocation of £70m through the ‘Accelerating innovative healthcare and medicines’ challenge of the Industrial Strategy Challenge Fund. This investment from government and industry will speed up patient access to new medicines and improve treatments for our ageing society. It will also support new virtual reality projects to help patient recovery. This will see three new Advanced Therapies Treatment Centers opened across the UK in Birmingham, Newcastle and Manchester.We will be announcing further details of the second wave of challenges within the Industrial Strategy Challenge Fund shortly. This new funding will support challenges to allow us to: Despite concerted efforts over a decade to improve business-university links, business R&D remains disappointingly low by international standards. (Some say we lack the critical mass of institutions that sit between business and research that are more common in countries like Germany or Korea.) Importance of achieving a good result for science from Brexit, both in terms of European research funding and in terms of the welcome the UK offers to the world’s best minds. Transform construction and food production Use technology to create the audiences of the future for our creative industries A strong suspicion that we are not making the most of the country’s potential when it comes to research talent. Whilst the total number of women professors are growing, HESA stats shows that in one third of universities the proportion of women professors has declined in the last five years. There are more black cleaners and porters than lecturers and professors. Develop the technologies and services to support a society that ages healthycenter_img Prosper from the energy revolution Thank you to the Royal Society for hosting us today. Speaking as a new science minister, there is nothing that reminds you of Britain’s awe-inspiring history of scientific excellence like a visit to the Royal Society.The photos of generations of distinguished fellows evoke the UK’s great tradition of research. The current fellowship is a list of global stars in discipline after discipline – a reminder that British science has a remarkable present as well as a great past. The sheaf of stats that you receive as a new minister bears this out – and I have rapidly learnt about exotic data like Field-Weighted Citation Indices – the moral of which is that when it comes to science, Britain continues to punch above its weight.I’ve also learnt that our research strengths go beyond the scientific remit of the Royal Society to fields of arts, humanities and social sciences. If the watchword of principle of 21st Century innovation is STEAM – Science, Technology, Engineering, Arts and Maths – then the British research base is well positioned for success. After ten days in the job, it’s hard to think that if you are going to be a science and research minister anywhere, Britain is the place.But I’m also well aware that when it comes to research and innovation, the UK faces its fair share of challenges.Already I have heard some clear messages from you and your scientific colleagues about areas that need more work. Use data improve early diagnosis of disease Pioneer technologies in Next generation services and quantum technologies And we will continue this new approach to mission-driven innovation by launching an expression of interest for Wave 3 of the ISCF.Openness the worldTo tackle these challenges effectively, we will need to work together with the best and brightest from around the world. Science and innovation are global enterprises. Bill Joy, the founder of Sun Microsystems, famously said “no matter who you are, the smartest people mostly work for someone else”; this is true for companies, but it is also true for countries. British science is at its best when we collaborate deeply with other countries, and welcome researchers to the UK.To this end, we are working to deepen our research and innovation ties to other countries – such as the historic agreements we have recently signed with the US and China.It also means securing the best possible relationship with the EU after Brexit. I am deeply conscious of the importance of Horizon 2020 and future framework programmers to research in the UK and the huge benefits we have reaped from participation in programmes like the ERC. We are working hard to secure a good research and innovation agreement with the EU after Brexit, and I can confirm that I have already had cordial discussions with Commissioner Carlos Moedas, and will be sitting down with him and other EU science ministers in Bulgaria next week, as my first foreign trip in the job.UKRI and its strategic roleHaving goals is a necessary part of having a plan, but not a sufficient one. You also need to capacity to carry out the plan, and to work out how you are doing. This is where UK Research & Innovation comes into the picture.The establishment of UKRI was, from the point of view of science and research, the central part of the reforms set out in the Higher Education and Research Act. (At this point, I must acknowledge my great debt to my predecessor in this role Jo Johnson, for stewarding this major reform through Parliament, and to discussing it with so many of you here.)UKRI matters because it can fund research and innovation in a mindful, considered and strategic way. Because it brings together the seven Research Councils, it will be better able to bridge the gap between the sciences, social science, and arts & humanities. Because it connects Innovate UK together with the Research Councils, it will improve the links between research and innovation. The first two waves of the Industrial Strategy Challenge Fund, which is financing R&D in fields with important business applications, suggest that these links are already bearing fruit.And by linking Research England to the research councils, it will enable us to carefully consider and better align our funding for specific research projects with the quality related research funding stream. Research England’s work with the other UK funding bodies and the Office for Students will help UKRI in its consideration of the sustainability of the research base, a joined up skills and talent pipeline and an approach to innovation which captures the strengths of each of the devolved nations.Just as important will be UKRI’s ability to make strategic funding choices. Sir John Kingman (who I was delighted to see appointed as substantive UKRI chair last week) argued that UKRI should aspire to provide a “strategic brain” for research funding, looking right across the UK landscape. This strategic brain would complement the existing processes of the research councils and Innovate UK, and would help ensure that funding opportunities were not overlooked because they fall afoul of disciplinary boundaries, and that important emerging areas are prioritized.The infrastructure roadmap – an example of what UKRI can doA good example of the kind of prioritization that UKRI makes possible is the Infrastructure Roadmap that we are here to initiate today, an initiative where the UK will want and need to play on a global scale. As you know far better that I do, good science and effective innovation depend not just on brainpower and funding but on the right infrastructure.Some of this is big, imposing physical kit: from linear accelerators and data centers to research stations, Met Office super-computers and, of course, Boaty McBoatface. Some of it is rather more intangible: such as carefully-collected longitudinal data sets or institutions like the Catapult centers, which are as much about networks and know-how as they are about physical buildings.The roadmap will survey the state of the UK’s research and innovation infrastructure, and use this mapping to inform the prioritisation of future investments.This matters. If we let our infrastructure decay, research and innovation suffer. In his superb book, “England and the Aeroplane”, historian of science David Edgerton describes how a lack of appropriate wind tunnels and testbed was one of the factors that caused Britain’s aerospace industry, which was at the cutting edge of technology at the end of WW2, to fall behind that of the US. But if we can invest strategically in new infrastructure, we can open up new vistas for research, especially as digital technologies are changing the way research works in discipline after discipline. An example of this is the Structural Genomics Consortium, based at the University of Oxford, is a great example of how open science has been used to spur on innovation in drug discovery. Currently funded by 13 public and private organisations, the consortium takes an open and innovative approach to intellectual property, which allows the industrial partners to collaborate and maximise the impact of the researchI hope that the Infrastructure Roadmap will be a sign of things to come from UKRI. There is huge potential for UKRI to build on the promising work that has been done by the Research Councils, Innovate UK and HEFCE in recent years to improve how we use data to understand the research base, to investigate promising areas, and to record the impact both of research itself and of the ways we fund research. There is also a great opportunity for UKRI to improve how we communicate research and its benefits to the general public, who after all pay for what we do and have a right to know about it – especially if we want to win popular support for greater public funding of research.This work will be led by Professor Mark Thomson, the new Executive Chair of the Science and Technology Facilities Council. I am delighted to announce Professor Thomson’s appointment today; he will be a great asset to STFC, reinforcing the UK’s reputation as being world-beating in this exciting and ever-evolving area of science.Mark will take over from STFC Chief Executive Brian Bowsher at the beginning of April when UKRI comes into being. I’m sure we would all like to take the opportunity to thank Brian for his sterling work at the helm of STFC over the last year and congratulate him for his OBE in the New Year Honours.Sir Mark and I will be speaking more about the future of UKRI in the weeks and months leading up to its formal launch on 1 April. I am hopeful that it will live up to its promise of being the most exciting research funder in the world.Encouraging optimism, and the limits of planningHaving spoken about the importance of having a plan, I’d like to conclude with a few words of humility. One thing I know is that plans that are too rigid generally don’t survive contact with reality.The best plans are dynamic, not dictatorial, and allow room for chance and for change. The same is true when it comes to the government’s vision for research and innovation.To encourage innovation, it is not enough to increase investment and to set challenges. We also need to provide the freedom that innovators and optimists need to thrive. In the world of business, this means creating the conditions for new entrants to and competing with old established firms. It means improving access to finance for the best new businesses to scale up.It means making sure that our regulators and the rules they make are tech-savvy, and responsive to new ways of doing things. We should draw on examples like the Human Fertilisation and Embryology Authority, where informed, proportionate regulation, devised with public consent, created the conditions where research and investment could flourish, safe from both over-zealous legislators and public backlash.And it also means ensuring there is space for serendipity in research. As the sociologist Robert Merton pointed out over sixty years ago, major breakthroughs arise unexpectedly or obliquely. No doubt many of you will recognize this from your own research. Shatterproof glass, penicillin, cancer chemotherapy, and vulcanized rubber are just a few examples of how the most important discoveries are sometimes the most unexpected. Alongside challenge-led funding pots like the Industrial Strategy Challenge Fund, we believe it is essential to continue to fund curiosity- driven research generously. And we will continue to support a diverse funding system, which values the role of the UK’s impressive research charities, and recognizes the importance of QR funding in allowing institutions to invest in their own ideas and capabilities.Providing freedom and encouragement for innovators and independent thinkers is essential for the future of research and for the future of the country.ConclusionLet me conclude by congratulating UKRI beginning their infrastructure roadmap.Rising to Global expectations – It will be welcomed in much, if not all, of the UK’s S&R community; but there are global expectations, and we are being watched carefully to see how this great new organisation works – just what will be different for those wanting to work with UK researchers and innovators that will be ensure the UK is hugely attractive to others?As we celebrate rising R&D spend from HMG, how will UKRI balance the need to clear accountability (which suggests plenty of process and rules) with creating the space I have just referred to for creativity and invention?Launching in April 2018, UKRI will be critical – ensuring the UK maintains its world leading position in research and innovation. It will catalyse a more strategic, agile and interdisciplinary approach to addressing global challenges and play a key role in helping the UK strengthen its competitiveness as part of the new Industrial Strategy.If you want to shape the future, it helps to have a plan. UKRI and its infrastructure roadmap is part of that plan.last_img read more

Ween Will Perform In Hollywood For The First Time Since 1996

first_imgNewly reunited and rocking, the beloved Ween continues to add shows to their 2016 tour schedule in piecemeal fashion. Today, the band has added a new date to their touring schedule, hitting the Hollywood Palladium in Hollywood, CA on October 13th! Ween had previously announced two nights at the Bill Graham Civic Auditorium on October 14-15, so this new Hollywood date will be the start of the band’s California road trip this fall.The show marks Ween’s first appearance in Hollywood since 1996, so you can expect to see Gene and Deaner living it up like the fabulous celebrities they are!Tickets for the new Ween show go on sale this Friday, August 19th, at 10 AM Pacific Time, with a pre-sale beginning on August 16th at 10 AM Pacific. The password is FIESTA, and you can find that sale information here.last_img read more

Brain food for your 2020 marketing plan

first_img“Marketing is changing” is a common phrase these days. With each new technology, social networking app, and payment platform, the ways we connect with current and potential members changes rapidly.No marketing plan is the same and no credit union is the same because no membership base and communities are the same.  It is important to start marketing planning with data and trends and knowing your members and community better than any of your competitors.But it is also important to start by asking yourself some shrewd questions as you determine your strategies and tactics to ensure success with your credit union’s marketing in 2020:How will you reach someone who spends a premium in every channel they can to not have any commercials or advertising to them (music and TV streaming services, etc.)How do you advertise to someone who is burning the candle at both ends and can’t possibly think of anything else right now?How do you make your brand relevant to help make your target member’s day better? Life easier?How do you develop your member experience across all channels to accomplish ease while delivering on your credit union’s brand elements and personality?The answers to these questions will help inform your plans and also ensure that your credit union will truly stand out as the financial services hero that it is.Best wishes for a fabulous 2020 and beyond! 31SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Amanda Thomas Amanda is founder and president of TwoScore, a firm that channels her passion for the credit union mission and people to help credit unions under $100 million in assets reach … Web: www.twoscore.com Detailslast_img read more

House prepares to consider CUNA-backed MDI, cybersecurity bills

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » CUNA wrote House leadership this week in support of two bills that are expected to be considered on the House floor in the coming days, the Expanding Opportunities for Minority Depository Institutions Act (H.R. 5315) and the Cybersecurity and Financial System Resilience Act (H.R. 4458).H.R. 5315 would codify the Treasury Department’s mentor protégé program to encourage collaboration between Minority Depository Institutions and large financial institutions.“MDI credit unions represent and important way in which credit unions are fulfilling their mission by advancing financial inclusion and well-being for minority and underserved communities,” wrote CUNA President/CEO Jim Nussle. “Today, MDI credit unions represent approximately 10% of all credit unions and serve approximately 3.9 million members (representing 3% fo all credit union members…[the Treasury’s mentor protégé program] represents a valuable resource for MDI credit unions because it offers an opportunity to bolster their sustainability.”last_img read more

Team Tankers Pens USD 206 Mn Acquisition Deal

first_imgChemical tanker operator Team Tankers International has entered into share purchase agreements to acquire all outstanding shares in Laurin Shipping and Anglo-Atlantic Steamship Company, both engaged in the Medium Range (MR) tanker shipping sector.In combination with associated ship purchases, the total value of the deal is estimated to be USD 206 million. Upon completion of the transactions, Team Tankers will grow its fleet from 37 to 52 vessels.The deal stipulates the purchase of the MR Tosca, which was completed on February 2018, the purchase of Laurin Shipping, commercial and technical operator of MRs, the purchase of Anglo-Atlantic, a ship-owning company with six owned, three bareboat chartered and six time-chartered MRs currently and an expected purchase of three MRs currently bareboat chartered by Anglo-Atlantic set to take place in May 2018. “We have communicated to the market the need for consolidation in the chemical tanker industry.  As a first step towards further consolidation, we are pleased to announce this combination with Laurin Shipping and Anglo-Atlantic.“Team Tankers will benefit greatly from Laurin Shipping’s deep relationships, years of experience and Anglo-Atlantic’s contracted cargo coverage. We believe that the current level of asset prices in the shipping cycle provides a favorable point of entry for this investment,” Team Tankers’ Chief Executive Officer, Hans Feringa, said.“The combination of the three companies will create a focused and integrated entity with ample muscle to make the most of future market opportunities,” Laurin Maritime’s CEO Mikael Laurin said.In addition to increasing Team Tankers’ owned vessel fleet by 10 MRs, the company expects the transactions to deliver significant operational synergies.The combination of platforms is expected to result in overhead savings by providing Team Tankers with Laurin Shipping’s in-house technical management expertise which should lead to enhanced operational control of the company’s fleet.On the commercial operating front, Laurin Shipping’s dense Atlantic basin cargo network fits well with the Team Tankers’ strength in trans-Pacific chemical transportation, the company added.Team Tankers plans to finance the acquisition with the cash on hand and a new USD 220 million senior secured credit facility that will refinance the existing indebtedness of both Team Tankers and Anglo-Atlantic.The transactions are subject to the completion of the financing in question and the election of Mikael Laurin to the Team Tankers Board of Directors. The deal is expected to close by April 6, 2018.last_img read more

Jeans ferry service to make traveling easier throughout the Caribbean

first_img Share LocalNews Jeans ferry service to make traveling easier throughout the Caribbean by: – June 7, 2011 Sharing is caring! 211 Views   one comment Tweetcenter_img Share L’Express Des Iles has launced a new ferry service in an effort to meet the needs of their customers throughout the Caribbean.SAS Jeans which is expected to commence operation on 20th Octoberof this year with frequent services to Dominica, Guadeloupe, Martinique and St. Lucia all year round as opposed to L’Express Des Iles with very attractive fares.This new vessel was will consume less gas, less expensive to maintain, and less expensive to run which assists in the low fares which it will be introducing to the market. Mr. Boeme informed the press launch yesterday that although the price of gas has increased this will not affect Jeans unless the price per barel increases beyond US$100.Ian Douglas, Minister for Tourism expressed the delight of his ministry for this new service as he says it will eliminate some of the difficulties which visitors experience when coming in to the Nature Isle.“One of the key components of success to what we do is bringing people into Dominica, and brining people into Dominica means access. You will always hear us speak about access be it air access or sea access whatever means possible we can employ to bring people into Dominica because that is the measuring stick for those in the Tourism Industry….What we are doing here today is very important to us and we are very happy that you have decided to bring on this new ferry service Jeans.”Jeans will also offer weekend charters to Monsterrat, Antigua, St. Kitts & Nevis, St. Martin, and St. Vincent & the Grenadines and employ six Dominicans.Dominica Vibes News Sharelast_img read more

Beijing reinstates virus controls as cases rise

first_imgA woman and a child wearing protective face masks to help curb the spread of the new coronavirus walk by people lining up outside a health center to get the nucleic acid test in Beijing, Monday, June 15, 2020. AFP BEIJING – China reported 49 new coronavirus cases on Monday as the capital Beijing reinstated measures to contain a resurgence. Of the new cases, 36 were reported in Beijing, traced to a wholesale market that supplies much of the city’s meat and vegetables.center_img Ten of the other cases were brought from outside the country and three were found in Hebei province just outside Beijing. The National Health Commission reported 177 people in treatment for COVID-19, while 115 were in isolation and under monitoring for showing signs of the illness or having tested positive without giving off symptoms. (AP)last_img read more