GBTI records $1.4B in profit for 2018

first_img– reduction as income from interest fallsThe Guyana Bank for Trade and IndustryIts profits are reduced compared to the previous year’s, but business is still good for the Guyana Bank for Trade and Industry (GBTI).The Bank made $1.4 billion in profits for the 2018 fiscal year.This is according to GBTI’s financial statements for the year ended December 31, 2018. According to the statements, this $1.4 billion in profits came after tax. It is still, however, less than what the Bank made in 2017.According to the Bank’s statements, it made $1.5 billion in 2017, thus making 2018’s figure a 4.93 per cent reduction. The Bank disclosed that its income from interest fell by 8.62 per cent, going from $5 billion in 2017 to $4.6 billion in 2018.In total, the Bank’s assets came up to $107.5 billion, with total liabilities of $91.3 billion. Its assets include case resources of $21.3 billion, loans and advances of $43.3 billion and $6.8 billion in property and equipment.“At December 31, 2018, the Bank and group investments amounted to $33.619 billion and $33.623 billion respectively. The group’s investments consist of structured financial instruments valued at amortised cost.“Property and equipment is stated at a netbook value of $6.8 billion and $6.886 billion for the company and group respectively. No revaluation of property and equipment was done during the year,” the Bank noted.Back in 2017, GBTI had had to contend with the multimillion-dollar fraud allegedly perpetrated against it by gold dealer Siddiqui Rasul, who allegedly defrauded the Bank of some $941 million.GBTI Chairman Robin Stoby had subsequently told shareholders that the Bank would recover the $941 million lost in a fraudulent transaction allegedly conducted by Rasul. Stoby had said that while, in the short term, the Bank would have to make provisions for the loss, affecting earnings for that year, the Board’s intention was to make an insurance claim for the money, in addition to conducting civil proceedings in an attempt to recover as much of the funds as possible.Rasul, owner of SSS Minerals Trading, was on April 3, 2017, charged with six counts of fraud, wherein it was alleged that between March 21 and March 22, 2017, at Bartica, with intent to defraud, he obtained from GBTI $96 million, $290 million, $89 million, $45 million, $298 million and $138 million by falsely pretending that he had cash in a Citizens Bank account to honour cheques that he had written.last_img read more

Corning beats Red Bluff in county rivalry

first_imgCorning >> The hardwood version of the Tehama County Shootout filled the South Gym at Corning High Tuesday night as the defending section champion Cardinals hosted the Red Bluff Spartans boys, with Corning coming out on top 62-44.The Spartans started strong, matching Corning’s intensity and using their speed to finish the first up 8-7.“Early on, we weren’t taking advantage of the offensive opportunities we had and we were giving them too many second chances on the offensive glass,” Cardinals …last_img

Africa’s branding challenge highlighted

first_imgA youth panel discusses their vision of AfricaBrand South Africa chairperson Anitha Soni, speaking at the Brand Africa Forum in Johannesburg on Thursday, challenged African nations to co-operate in developing strong country brands to improve the continent’s global competitiveness.Soni told a gathering of more than 300 government, business and civil society representatives at the Sandton Convention Centre that this would require better cooperation and information sharing among African countries.David Haigh, Founder and CEO of Brand Finance PLCHosted by Brand South Africa and the Brand Leadership Academy and featuring several high-profile local and international speakers, the 2nd annual forum sought to harness African and global wisdom and experience to find home-grown solutions to improving the continent’s image and reputation.Brand Africa founder and chairman Thebe Ikalafeng, addressing the forum, said that a key to increasing Africa’s growth was to be found in “in stimulating and growing thriving African and global businesses and brands in Africa,” which in turn required a better understanding of local environments.Founder and Chairman of Brand Africa Thebe Ikalafeng‘Brand equity’ counts in tough timesBrand South Africa CEO Miller Matola said that, in times of economic uncertainty such as the world is presently undergoing, “brand equity” would attract direct foreign investment.“The return on risk is obviously a factor which will be taken into account, but a country’s reputation for financial excellence and maturity will be the real driving factor,” Matola said.Zimbabwe Deputy Prime Minister Arthur Mutambara told delegates that the benefits of nation branding were immense, “as they have both financial and non-financial implications.“But it is critical to ensure that the country brand transcends political affiliation,” Mutambara said. “Our politicians need to be aware that, as nation brand ambassadors, they have to sacrifice political gain in lieu of the greater brand, the country.”Mutambara said that in order for Africans to gain international respect, the continent as a whole had first to excel.‘Country branding is not by accident’“Country branding is not by accident. It is a strategic, holistic engagement which is a long-term commitment, at least 20 years. Only then can we claim success on all levels, personal, national and continental.”He also highlighted the need for African countries to create pockets of excellence both to foster economic growth and development and to improve international competitiveness.Other speakers at the forum included international economist Dambisa Moyo, author of Dead Aid and How the West was Lost, Malik Fal, managing director of Endeavour, and Vijay Mahajan, author of Africa Rising.Dr Vijay MahajanDuring his keynote address on the BRICS group of fast-growing emerging economies, Vijay Mahajan stressed the significance of Africa as a new market that could not be ignored.“Africa is richer than you think, and it is certainly not a ‘media dark’ continent,” Mahajan said. “In light of this, the BRICS economies [Brazil, Russia, India, China and South Africa] have both a direct and indirect role to play in Africa’s continued growth and development.”SAinfo reporterlast_img read more

Farm safety net loophole closed

first_imgShare Facebook Twitter Google + LinkedIn Pinterest The U.S. Department of Agriculture last week finalized a rule to ensure that farm safety-net payments are issued only to active managers of farms that operate as joint ventures or general partnerships, consistent with the direction and authority provided by Congress in the 2014 Farm Bill. The action closes a loophole where individuals who were not actively part of farm management still received payments.The changes apply to payments for 2016 and subsequent crop years for Agriculture Risk Coverage and Price Loss Coverage Programs, Loan Deficiency Payments and Marketing Loan Gains realized via the Marketing Assistance Loan program. As required by Congress, the new rule does not apply to family farms, or change regulations related to contributions of land, capital, equipment or labor.For more details, producers are encouraged to consult their local Farm Service Agency office.last_img read more

Ohio Ag Weather and Forecast, January 8, 2019

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Additional showers move over the state today. Winds will switch from the south west to the west and eventually northwest today, beginning to usher in some cooler air. However, we still will not be looking for a significant push below normal, it will just feel colder after yesterday’s exceptionally mild run. Moisture today will add up to another .3” or less, with coverage at about 50% of the state. Even though we are cooler today, we still expect all rain, where it falls.Drier weather moves in behind the front for tomorrow, Thursday and Friday. We will see clouds slowly break up tomorrow, and clouds increase again on Friday afternoon. Temps make another leg down and we will spend most of the next three days near normal (after today), but there is no significant cold air blast coming.The weather situation gets interesting Saturday. Models are in significant disagreement on what comes through. The GFS model thinks we could see 1-8 inches of snow over the state, with the worst in southern and southwest Ohio. The European model looks for very light moisture and keeps the biggest precipitation off to our south and to our west. We are adding some minor moisture into our forecast, as the Saturday period has always been the most suspect. Honestly, we should not have removed it from our forecast 24 hours ago. This system will be very track dependent, but we think that available liquid equivalent moisture will be limited to a few hundredth to a tenth or so. At this time, we are putting a coating to an inch of snow in the forecast over 70% of the state for this coming Saturday. We do not buy into the large snowstorm fearmongering at this point. Stay tuned, as this may end up being the main feature for the week, depending on track of any storm. The map at right shows one model’s early depiction of snow potential this weekend through Sunday mid morning. Again…this is just early model thoughts, not our official forecast – that will come later this week.Dry weather is back for Sunday and it holds through at least next Wednesday. High pressure dominates the early part of the week on Monday. This will come with some colder air too. However, models also are in major disagreement toward the end of the 10 day period. The euro stays dry for next Thursday, while the American model, brings snow, and some good accumulations again. The precipitation potential likely lies in how much cold air lingers over the region at the end of the 10 day window. Right now, we are leaning toward better precipitation potential for next Thursday.To kick off the extended 11-16 day forecast period, we have rain for the 19th and 20th, ending as snow on the 21st, with potentially significant accumulations. From there we remain cold with snow and flurries for the 22nd and 23rd.last_img read more

Kentucky Basketball: John Calipari Tells Colin Cowherd He Has To “Go To Church, Ask For Forgiveness” For His John Wall Criticism

first_imgJohn Calipari talks to Colin Cowherd about John Wall.John Calipari Colin Cowherd John WallColin Cowherd likes to criticize John Wall. The ESPN personality does it often on his radio show. For an in-depth look at Cowherd’s distaste for the Washington Wizards’ star point guard, you can read this by the Washington Post‘s Dan Steinberg. This morning, Wall’s college coach, John Calipari, went on Cowherd’s ESPN radio show. During his appearance, Calipari discussed Cowherd’s criticism of his former player. He doesn’t like it. The 56-year-old Wildcats’ coach joked that Cowherd has to “go to church” and “ask for forgiveness” for his Wall hate. Calipari to Colin Cowherd on John Wall hate: “You’ve gotta go to church, ask for forgiveness, let it go.”— Dan Bodner (@DanBodnerKSC) June 5, 2015Here’s video of the interview, courtesy of Sports Grid.This is why Kentucky fans love Calipari so much.last_img read more

BC housing market shows signs of moderation assessment agency

first_imgVANCOUVER — Assessed values of some single family homes in Metro Vancouver’s once red hot housing market dropped between five and 10 per cent in the latest assessments used to determine property taxes in British Columbia.Meanwhile, BC Assessment says some property owners in the rest of the province have seen five to 15 per cent increases in their property values.The agency forecasts condominium values will increase by up to 20 per cent across B.C. this year.Commercial and industrial properties saw an increase of between 10 and 20 per cent across most of the province, with some markets around Metro Vancouver increasing up to 30 per cent. BC Assessment collects, monitors and analyzes property data.Its assessments are based on the estimate of a property’s market value on July 1 of each year and its physical condition on Oct. 31.Deputy assessor Keith MacLean-Talbot says increases in property assessments do not automatically translate into a corresponding increase in property taxes. The Canadian Presslast_img read more

Football Curtis Samuel plays like Percy Harvin

OSU junior H-back Curtis Samuel (4) rushes into the endzone for a touchdown during the first half of the Buckeyes game against Rutgers on Oct. 1. The Buckeyes won 58-0. Credit: Alexa Mavrogianis | Photo EditorIf there’s one word to define an Urban Meyer offense, it’s speed. Since being hired at Ohio State in 2012, the Buckeye offense under Meyer has finished the season twice ranked in the top 10. However, through many different players, Meyer has been attempting to reincarnate one of his greatest weapons from his time at the University of Florida.Former Florida Gator and NFL wide receiver Percy Harvin won two national championships for Meyer, alongside Heisman Trophy winner Tim Tebow, and was the No. 1 playmaker for Meyer for the better part of two seasons.From Dontre Wilson in 2013, Jalin Marshall in 2014 and Braxton Miller in 2015, Meyer might have finally found his next Percy Harvin in junior H-back Curtis Samuel.And frankly, Samuel might be better. Meyer said on Tuesday’s Big Ten coaches’ teleconference that he believes Samuel should be in the Heisman Trophy discussion with his performance through the first four games.“I think it’s a little harder for those positions to get it, in H-back,” Meyer said. “But he’s certainly having that kind of year that he should be in the conversation.”The last time Meyer had two players in the Heisman race was with Tebow and Harvin in 2008. In Harvin’s 2007 sophomore campaign, he exploded for 764 yards and six touchdowns rushing, and 858 yards and four touchdowns receiving. The next season, before he declared early for the NFL, Harvin finished with 1,304 total yards and 17 touchdowns.While Samuel has eight games left in the regular season to rack up those numbers, he’s already on pace to surpass Harvin’s junior-year stats.Samuel has 673 total yards and five touchdowns through four games this season, compared to Harvin’s 461 total yards and five touchdowns through his first four games in 2008. To be fair, Samuel has had 18 more touches than Harvin did at this point, but the two are nearly identical in average yards per touch.Harvin was all over the field for Meyer back at Florida, much like Samuel. But unlike Harvin, and Buckeyes in the past Meyer tried to put into the role, Samuel has shown the ability to run between the tackles. Redshirt junior quarterback J.T. Barrett is fairly similar to Tebow in his ability to takeover a game almost at will. Albeit in different styles, Tebow went to Harvin often, just like Barrett’s trust in Samuel.Meyer has always put trust into his quarterbacks and his playmakers, but what makes Samuel even more impressive when comparing him to Harvin is that OSU has a legitimate 1,000-yard running back in redshirt freshman Mike Weber.After the first game against Bowling Green, Weber and Samuel combined for 220 yards rushing, prompting Weber to equate the backfield duo to Lendale White and Reggie Bush, who accounted for an asstounding 3,042 rushing in 2005.At the time, it sounded ridiculous, but could it really happen? Could Weber and Samuel somehow be this good, and could Samuel be in the Heisman Trophy race?Statistically speaking, yes, both of those could happen. However, Harvin, Bush and White all performed at high levels for more than one season. For now, Samuel still has to live up to the expectations of following Braxton Miller and every other player to be named Meyer’s No. 1 playmaker.“I feel like both at receiver and at running back (I’m best utilized),” Samuel said. “I can be at running back and go against a linebacker, which is a mismatch, or I can go to receiver and be against a corner or safety, which I feel is still a mismatch.” read more

Columbus Crew draw English Premier League team Crystal Palace FC

The Columbus Crew hosted English Premier League team Crystal Palace F.C. in an international friendly at Crew Stadium Wednesday and a game with unlimited substitutions resulted in a 2-2 draw between the American and British sides.Forward Adam Bedell drew first blood for the Black and Gold on an arching assist by defender Eric Gehrig in the 15th minute, but the opposition was not deterred as Palace’s Glenn Murray equalized with a 36th minute strike.The final 10 minutes of the first half saw the visiting Eagles engage a tighter defensive stance of contesting for possession, likely inspired to battle after their forward evened the game for them.“From the start, they sat back a little bit. That’s just the way that they, that’s just their game plan,” Bedell said after the game, speaking to what the Premier League squad did differently from the Major League Soccer defenses the Crew face every week. “A good block of eight, good defending … MLS teams, when the game’s 0-0, you just play. You don’t see that, that block of eight very often so I think that was the big difference.”Another Crystal Palace goal by substitute midfielder Jake Gray in the 70th minute of play occurred following a scuffle in the box, during which Crew goalkeeper Matt Lampson pled his case for having been interfered with on the play. The goal stood to give the guests the 2-1 lead after they had been threatening in transition for the majority of the evening.One of the Crew’s three defensive halftime substitutions saw a homegrown player from Bexley, Ohio, in Ross Friedman get his first career action in a Black and Gold kit when he came in for fellow defender Chad Barson.Friedman, 22, had been playing for the USL-PRO affiliate Dayton Dutch Lions but got the call to suit up as a Crew reserve against a top-flight international team.“I think going out at Dayton and trying to do the little things right — not slacking in any way — you know, prepares me for situations like this,” Friedman said. “This opportunity proves to show we can get called at any point. Situations happen and you’ve got to be ready. So I felt happy with my preparation and I’m ready to build off of it.”Columbus notched an 80th minute goal, however, to tie the game once more.Crew center midfielder Agustin Viana delivered a lofting assist from 35 yards away and his attacking counterpart, Daniel Paladini, fought to contact the ball in midair for the equalizing header. The tie game endured through two minutes of second-half stoppage time.“Adam (Bedell) was fantastic. He had a great header and Danny (Paladini) made a nice run trying to get midfielders running into the box. I was pleased over all,” Crew coach Gregg Berhalter said.Berhalter, who played as a defender for Crystal Palace from 2001-02, added that “the defending could have been a bit better.”The game marked the first of three stops on Crystal Palace’s American tour before the Premier League season kicks off in August.The Crew are slated to resume MLS play when they travel to Foxboro, Mass., to take on the New England Revolution in a crucial Eastern Conference matchup Saturday.Kickoff is slated for 7:30 p.m. read more

Track and Field Kendall Sheffield breaks 60meter record in Ohio States final

In the final meet before the Big Ten Indoor Track and Field Championships, the Ohio State men’s and women’s track teams placed in the top two spots of 25 different events in the Buckeye Tune Up on Friday at French Field House, highlighted by Kendall Sheffield’s record-breaking sprint. Men’s recapSheffield, the Ohio State football team’s cornerback, broke the Ohio State’s 60-meter dash record and the French Field House record with a time of 6.663. The previous team record held by Jonathan Burrell and was 6.665. “It feels great to break the record,” Sheffield said. That time currently puts him at 24th in the nation. With his goal being one of 16 competitors at the national championships in March, Sheffield will have to trim off 0.03 of his time to earn a bid.Junior Coty Cobb reached the 5.41-meter mark on the pole vault for a personal record and stand as qualifier for nationals with one competition remaining. This was the goal for Cobb heading into this meet, and before he even landed on the pit, he was already celebrating what he had accomplished.“I was trying not to celebrate too hard and get ready for the next jump,” Cobb said.Cobb’s teammate senior Cole Gorski, whose personal best 5.47 meters is currently inside the top 16, had a disappointing day, but still finished second at 5.12 meters.The next jump was at 5.49 meters, or 18 feet, a mark that would’ve placed Cobb inside the top 10 in the nation. The closest he came to jumping that height was on his first attempt, when his body grazed the bar just enough to dislodge it.With one meet remaining before the national indoor championships, the No. 20 Ohio State men’s team has six athletes currently qualified, including top long jump qualifier Zach Bazile.Women’s recapIn throwing, junior Sade Olatoye finished second in weight throw at 22.61 meters. The distance would have broken her previous record she held at the French Field House had it not been already surpassed by Cincinnati’s senior Annette Echikunwoke, who recorded a 24.78-meter throw, the best in the nation so far this year.Olatoye did go on to win shot put with a throw of 16.78 meters.Freshman Anavia Battle continues to lead the Buckeyes’ sprinters, this time winning the 60-meter dash with a time of 7.43. Although she didn’t compete in the 200-meter dash, Ohio State didn’t have any trouble with the event for freshman Syaira Richardson finished first with a time of 24.69. Freshman Brooke Mangas got her first collegiate first place finish in high jump. She won with a jump 1.63 meters. In a rematch at pole vault from last week’s Music City Challenge meet, Cincinnati’s junior Brooke Catherine finished first at 4.11 meters ahead of senior Madison Roberts, who finished second at 4.01. Ohio State sophomore Megan Hoffman finished fourth (3.91).Ohio State heads off to the Big Ten Indoor Championships next weekend in Geneva, Ohio. read more