Conoil Plc ( Q12015 Interim Report

first_imgConoil Plc ( listed on the Nigerian Stock Exchange under the Energy sector has released it’s 2015 interim results for the first quarter.For more information about Conoil Plc ( reports, abridged reports, interim earnings results and earnings presentations, visit the Conoil Plc ( company page on AfricanFinancials.Document: Conoil Plc (  2015 interim results for the first quarter.Company ProfileConoil Plc is a petroleum exploration and production company in Nigeria that extracts, produces and sells crude oil as well as supplies a range of lubricants and household and liquefied petroleum gas for use by the domestic and industrial sectors. The company supplies what is referred to as White products, which is premium motor spirts, aviation turbine kerosene, dual purpose kerosene, low-pour fuel oil and automotive gasoline/grease oil. Products in its lubricant range include transport lubricants, industrial lubricants, greases, process oil and bitumen. Products in its liquefied petroleum gas range include liquefied petroleum gas sold in bulk, gas-packed, cylinders and valves. Established in 1984 and formerly known as Consolidated Oil Nigeria Limited, the company changed its name to Conoil Producing Plc. The company has exploration licenses for 6 highly prospective blocks in the Niger Delta which it acquired and paid for after competitive bidding rounds organised by the Federal Government of Nigeria. Conoil Producing has discovered hydrocarbon offshore southeast of Niger Delta and initial logging interpretations is looking promising. Conoil Plc’s head office is in Lagos, Nigeria. Conoil Plc is listed on the Nigerian Stock Exchangelast_img read more

Forget gold and Bitcoin. I’d buy crashing UK shares in a Stocks and Shares ISA right now

first_imgForget gold and Bitcoin. I’d buy crashing UK shares in a Stocks and Shares ISA right now I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. UK shares may yet experience a further market crash as uncertainty surrounding factors such as Brexit and a second wave of coronavirus builds in the second half of 2020. While this may naturally cause some investors to focus their capital on other assets such as Bitcoin and gold, the long-term prospects for FTSE 100 and FTSE 250 shares appear to be bright.Through buying a range of bargain stocks today in a tax-efficient account such as a Stocks and Shares ISA, you could obtain strong growth in the long run as a stock market recovery takes hold.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…The past performance of UK sharesInvesting in UK shares is never an easy task. One of the biggest challenges facing any investor is overcoming a natural urge to avoid buying stocks when they are priced at their most attractive levels.For example, in previous economic crises investors have often sold or avoided the stock market in favour of other assets. While this may have been a sound short-term move in some cases, over the long run it can mean that such investors miss out on the stock market’s eventual recovery.Therefore, while it may feel unnatural to buy UK shares when their risks are elevated, it can mean that you are able to obtain the most attractive prices. And, with the stock market having always recovered from its very worst recessions and bear markets, adopting a buy-and-hold strategy can prove to be very profitable over the long run when you are able to purchase high-quality companies at a discount to their intrinsic values.A simple approachOf course, it is currently too soon to know what the long-term outcome of the coronavirus pandemic and lockdown will be on a variety of sectors and UK shares. Therefore, adopting a simple strategy could be a logical move. This may mean that investors diversify across a range of sectors and purchase companies with solid balance sheets. Furthermore, they may wish to invest through a tax-efficient account that is cheap to administer and simple to manage, such as a Stocks and Shares ISA.Certainly, this plan may not produce returns that are as high in the short run as other assets such as gold and Bitcoin. However, the past performance of the stock market suggests that a long-term recovery for indexes such as the FTSE 100 and FTSE 250 is very likely. Through using a tried-and-tested approach that focuses on buying and holding shares to minimise risk and still allows for high returns as the economy and stock market recover, you could generate surprisingly strong returns.Therefore, with the threat of a second market crash and political challenges such as Brexit still looming, now may be the right time to go against your instincts and buy cheap UK shares. Over time, they could produce high returns that improve your financial prospects. Our 6 ‘Best Buys Now’ Shares Image source: Getty Images Enter Your Email Address Simply click below to discover how you can take advantage of this. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Peter Stephens | Sunday, 2nd August, 2020 Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. “This Stock Could Be Like Buying Amazon in 1997” See all posts by Peter Stephenslast_img read more

Agui House / ALTS Design Office

first_imgArchDaily Architects: ALTS Design Office Area Area of this architecture project “COPY” Agui House / ALTS Design Office Year:  ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Save this picture!Courtesy of ALTS Design Office+ 20 Share ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Projects CopyAbout this officeALTS Design OfficeOfficeFollowProductWood#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesHousesJapanPublished on March 05, 2014Cite: “Agui House / ALTS Design Office” 05 Mar 2014. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogMetal PanelsAurubisCopper Alloy: Nordic BrassCompositesMitrexPhotovoltaic Solar Cladding – BIPV CladdingPanels / Prefabricated AssembliesTechnowoodPanel Façade SystemArmchairsUniForArmchair – ParigiLouvers / ShuttersBruagShading Screens – Perforated Facade PanelsAluminium CompositesSculptformAluminium Façade BladesCultural / PatrimonialIsland Exterior FabricatorsSeptember 11th Memorial Museum Envelope SystemWire MeshJakobWebnet in a Gymnasium in GurmelsDoorsLinvisibileLinvisibile Pocket Door | MareaPaintKEIMMineral Paint for Concrete – KEIM Concretal®-WLouversReynaers AluminiumSolar ShadingHandlesFormaniFitting Collection – ARCMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Photographs 2014 Year:  Photographs:  via ALTS Design OfficeSave this picture!Courtesy of ALTS Design OfficeText description provided by the architects. This house features an engawa, which means that the space between the interior and the exterior are horizontally arranged, as commonly seen in classic Japanese architecture. In this project, we tried to create a verstatile space so that the inhabitants can live even better lives. Save this picture!Arrangement Floor PlanThe site in the southeastern corner allows the engawa to connecting to living room which opens to an exterior space. Pillars and walls obscure the boundary between interior and exterior, as seen in shrines and temples. Save this picture!Courtesy of ALTS Design OfficeThis “in-between” acts as a buffer while protecting interior space against external elements.Save this picture!Courtesy of ALTS Design OfficeProject gallerySee allShow lessThink Space Launches Latest Competition: Environment / SubtractionArchitecture NewsCenter for New Technologies / Francisco MangadoSelected Projects Share 2014 Area:  121 m² Area:  121 m² Year Completion year of this architecture project Japan CopyHouses•Japan Agui House / ALTS Design OfficeSave this projectSaveAgui House / ALTS Design Office Houses “COPY”last_img read more

Australian Salvation Army officer killed while fundraising

first_img In a sad reminder of the need to include safety briefings for all involved in public fundraising activities, a Salvation Army officer has been killed while collecting from door to door. Mr Peter Dominish was hit by a car in North Sydney while collecting for the Red Shield appeal.In a sad reminder of the need to include safety briefings for all involved in public fundraising activities, a Salvation Army officer has been killed while collecting from door to door. Mr Peter Dominish was hit by a car in North Sydney while collecting for the Red Shield appeal. The car reportedly veered off the road before hitting Mr Dominish. Read Car kills Salvation Army volunteer on doorknock by Joseph Kerr at The Sydney Morning Herald. Advertisement Have you reviewed your safety briefings and policies for volunteers and staff? Relevant publications from the UK Fundraising Bookshop include the Good Employment Guide for the Voluntary Sector, and The Health and Safety Handbook. These are listed in the management section of the bookshop.  13 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 28 May 2001 | News Australian Salvation Army officer killed while fundraising About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving.last_img read more

Bookings on National Trust working holidays up 50% on last year

first_img Howard Lake | 1 March 2012 | News Tagged with: Trading Volunteering The National Trust reports that bookings for its working holidays have increased by 50% compared to this time last year. The activity holidays have been running for 45 years, and enable people to get out in the fresh air and help conserve the country’s natural environment.The holiday activities include surfing while repairing footpaths in Devon, planting trees and photographing Snowdonia or dry-stone walling alongside Hadrian’s Wall in Northumbria.The National Trust puts the growth down in part to the growing number of Britons who are choosing to holiday within the UK due to the economic downturn.The Trust’s Head of Holidays, Marianne Wanstall, said: “We’re really focused on providing unique experiences; our most popular choices are those with activities at their core, such as cycling, surfing, sailing, bush craft or photography. One of the real positives is the range of participants, from young to old, and we’re delighted that there’s been a major growth in our family holiday packages.”Working holidaymakers join 60,000 people who volunteer regularly for the National Trust across England, Wales and Northern  19 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Bookings on National Trust working holidays up 50% on last year AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving.last_img read more

£1,000 prize for the small business with the biggest heart

first_img  43 total views,  1 views today Howard Lake | 28 September 2016 | News “In many of these cases the businesses concerned do not court publicity for their efforts, which is why is inviting the beneficiaries of the good deed to nominate their small businesses with a big heart in the first round of applications.  Charities, other benefactors and employees of the small businesses can also put their organisations forward”.Entries and nominations for the Small Business, Big Heart Award are now open.  44 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis14 £1,000 prize for the small business with the biggest heart Tagged with: Awards corporate About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis14 One small business in the UK that helps its local community or organisations in remarkable ways will win £1,000 for charity in a competition run by, the website for business sales and strategic support.Charities and voluntary organisations can nominate their best small business supporters for the award.The Small Business, Big Heart Award regional winners will each be presented with their award at the Small Business Saturday Bus Tour when it comes to their nearest town.  The overall winner will be announced in January 2017 and receive £1,000 towards a good cause of its choice.Rufus Bazley, Marketing Director at said:“The award is not for a business that has simply written a large cheque, we’re looking for those business folk who have an on-going relationship with people in need in their communities who they help in any number of ways.  It could be supporting staff with time off for voluntary work, it may be offering apprenticeships and training to people who couldn’t otherwise get on the career ladder, it may even be outreach work with organisations that need the skills, time and input from the business that they could not afford to pay for themselves.”He added: Advertisementlast_img read more

Pearson launches maths app to help Syrian refugee children

first_imgMain image: Khaled* studies at a school in eastern Amman which is the first to receive the educational Space Hero app. By Ahmad Muhsen/Save The Children Pearson has launched a maths and Arabic learning app in Jordan as part of its partnership with Save the Children. With support from the Jordanian Ministry of Education, the app will help Syrian refugee children living in the country catch up with their schooling.The app, “Space Hero” (Batl Al Fada’a), is an extension of Save the Children and Pearson’s ‘Every Child Learning’ partnership, which works to improve education for Syrian refugees and local children affected by the Syrian conflict in Jordan.  The app was designed by Beelabs and developed by Pearson, in collaboration with refugee and Jordanian children and aims to help these children improve their academic results and build resilience. It also supports a broader Save the Children-led in-school programme focusing on teacher professional development, enhancing school-community relations, after-school learning and psychosocial support.The project will be launched in three boys’ schools for the 2017-2018 academic year, and then scaled up for the 2018-2019 academic year to an additional five schools, four of which will be girls’ schools. The app can also be found on the Google Play store to download for free.Screenshots from Space Hero app Tagged with: app corporate refugees Commit to predictable multi-year funding for education in refugee responsesImprove collaboration and develop innovative partnershipsUse technology as an enabling tool in pursuit of education outcomesKate James, Chief Corporate Affairs and Global Marketing Officer of Pearson, said:“Refugee children are the doctors, farmers, teachers, and scientists of the future – jobs that hinge critically on gaining the skills we know quality education delivers. We all have a responsibility to build awareness and advocacy of refugee displacement as a global humanitarian crisis, and ultimately, reach the learners who need our help the most.” About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis12  229 total views,  3 views today  230 total views,  4 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis12 Kevin Watkins, Chief Executive of Save the Children, said:“Save the Children is proud to be launching this ambitious programme with Pearson. If we want to make the biggest difference for children, we must harness the expertise of partners to ensure the world’s most vulnerable are given the chance to learn in safe and secure environments. This programme will improve the delivery of education in Jordan and give both Syrian refugee and Jordanian children the chance to fulfil their potential.”Save the Children and Pearson have also launched a new report with UNHCR, called Promising Practices in Refugee Education, which sets out 10 critical recommendations for improving global refugee education policy and practice to ensure vulnerable refugee children and young people can access the quality education they need. Amongst the recommendations are practical solutions including: Advertisement Pearson launches maths app to help Syrian refugee children Melanie May | 29 September 2017 | Newslast_img read more

On the picket line

first_imgSolidarity with Philadelphia sanitation workers Even though trash has been piling up on Philadelphia streets during this steamy summer, there’s acknowledgment between city officials and the sanitation workers’ union, American Federation of State, County, and Municipal Employees Local 427 of District Council 33, that it’s because many workers have been calling out sick because of COVID-19. Some have tested positive; others have been quarantining due to on-the-job exposure; others don’t have reliable childcare. Or there may just be more household trash now. Juliana Feliciano Reyes pointed out in an Aug. 4 Philadelphia Inquirer article that the workers were fighting for hazard pay and better protective equipment even before the pandemic. But now people are acting in solidarity with them — randomly passing out water as trucks come by, buying T-shirts to help workers purchase protective equipment and cleaning supplies, and posting signs supporting them. Reyes observed, “It’s a sign of how the narrative around work has shifted, especially during the pandemic. Americans have been witnessing the reality faced by many workers — low wages, few protections — as those risking their lives on the job speak out about unsafe working conditions.” She added, “Sanitation workers in particular have been at the forefront of this moment. Like their counterparts in Philadelphia, workers have protested in Pittsburgh and in Raleigh, N.C. In New Orleans, sanitation workers have been on strike for nearly three months. The Black Lives Matter uprisings have only bolstered the efforts, as many sanitation workers are Black men.”California workers demand testing before Disney parks openThe Coalition of Resort Labor Unions, an alliance of 12 unions representing 17,000 workers at Disney theme parks in Anaheim, Calif., has been carrying on a struggle for months over safety measures for its members who were furloughed March 13. It sent Gov. Newsom a compelling letter protesting the July 17 reopening of Disneyland Park and Disney California Adventure Park. That has since been delayed indefinitely. Disney did agree to certain ground rules — two weeks sick pay for confirmed cases of COVID-19, though workers have to apply for state disability after that; workers must conduct a daily at-home coronavirus assessment with a thermometer supplied by Disney; members who must work within 6 feet of visitors will be provided a plastic face shield. (Orange County Register, June 25)But the company refuses to do daily testing for cast members, claiming, “The existing COVID-19 testing is not viable as a screening tool and not recommended by the [Food and Drug Administration] to be used in this way,” according to Disney Labor Relations Director Bill Pace. But, as an Aug. 3 Daily Beast article points out, that’s totally opposite the testing regime used in the National Basketball Association’s Bubble at Disney World in Orlando. Players and select staff are given daily COVID-19 tests that can catch and contain any outbreaks; so far they’ve been very effective. While not commenting on the NBA Bubble, another Disney spokesperson noted, “We’ve adopted new protocols for face coverings, health screenings, cleaning and disinfecting, training and more.” Meanwhile a select number of “veteran members” returned to their jobs July 9 in Anaheim’s Downtown Disney District, an outdoor shopping and dining complex, even though they are uncertain about their safety. One District worker has tested positive since the reopening, according to Andrea Zinder, president of the Food and Commercial Workers (UFCW) Local 324, which represents Downtown Disney employees. The worker began self-isolating after receiving the news on July 24. The situation calls for the longtime union slogan, “An injury to one is an injury to all.”Workers at nonprofit join union Aug. 5 Staff at the Congressional Progressive Caucus Center joined the Nonprofit Professional Employees Union on Aug. 5. When the CPC Center requested voluntary recognition from management, it agreed to move forward with the process. “We believe in unity and equity and have dedicated our careers to serving and fighting for justice,” said representatives of the CPC Center Union. “We believe that unionizing will help uphold the CPC Center’s values and commitment to empowering and strengthening communities of all backgrounds across the nation.” The CPC Center states that it works to “identify and develop solutions to build a more just, equitable and resilient nation.” (NPEU, Aug. 5) FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

TCU alumna organizes eating disorder walk

first_imgReddIt The 109 Facebook ReddIt Fort Worth braces for more severe weather Linkedin The 109 The 109 Grains to grocery: One bread maker brings together farmers and artisans at locally-sourced store printThe non-competitive mile walk was organized by TCU alumna Lauren-Ashton Shepheard, who wants to help people with eating disorders in Tarrant County to find resources they need.Shepheard said she had an eating disorder, athletic anorexia, during some of her time at TCU.“Unfortunately, there was not a lot of support when I tried to find help.” the Fort Worth native said. “I am fortunate and thankful to say I have been recovered for two and a half years now.”“This is my way of trying to make sure no one else has to feel the way I did when I needed help and had a hard time finding it,” she said.Proceeds from the walk will benefit the National Eating Disorders Association and The Elisa Project.Shepheard found the NEDA after she graduated from TCU through doing research about eating disorders and learning how she could volunteer on the issue.Based in New York City, NEDA is a non-profit that aims to support those affected by eating disorders and their families.They campaign for “prevention, improved access to quality treatment, and increased research funding to better understand and treat eating disorders,” according to NEDA’s website.According to NEDA, 20 million women and 10 million men suffer from a clinically significant eating disorder at some time in their life.“The treatment cost of an eating disorder in the US ranges from $500 to $2,000 a day,” according to their website.Proceeds will also go to the The Elisa Project, which also focuses on prevention and public awareness of eating disorders.The organization was formed in honor of Elisa McCall, a college student who committed suicide after suffering from an eating disorder and depression. She had recorded in her diary that she wanted to help people who were suffering from what she was.Shepheard said she wanted to make sure that The Elisa Project was included so funds from the walk could stay in Fort Worth.“It was very important to me to see an impact here in the community as well as what I could do nationally,” she said.Some proceeds given to The Elisa Project from the walk will go towards Tarrant County schools to support students who struggle with these disorders.NEDA has exceeded their Fort Worth goal of $10,000. Their leading sponsors include McCallum Place Eating Disorder Centers, Children’s Health Medical Center, Laureate Eating Disorders Program, PMG, Capital Grille, Juice Junkies and Vanity Room.Other ‘in-kind contributions’ have come from Summits Hot Yoga, Bikram Yoga and Sinaca Studios.The opening ceremony will begin at 9:15 a.m. and will start the walk off with a yoga session and motivational speakers, including Fort Worth television producer and host Janeé Hill.Hill said she also struggled from an eating disorder earlier in her life.“There is hope of walking in freedom from eating disorders, and if you are struggling, there is a community of support and resources available,” she said.Once they cross the finish line, walk participants can listen to music provided by a DJ and join in activities such as games and face painting.Organizers of the Fort Worth NEDA Walk are hoping it can become an annual event.“Through awareness and education, I believe we can make a difference in so many lives with the prevention and effective treatment of eating disorders,” Shepheard said. “If there’s hope, then we’ve achieved our goal.”Libby Vincek is a public affairs reporter for The 109. Email her at [email protected] Twitter Fort Worth set to elect first new mayor in 10 years Saturday Linkedincenter_img Let me start off by saying Texas State is a good offensive team. There is no doubt about that. But on several occasions, this “lowly” FCS team made the mighty Frogs’ defensive secondary look just plain silly. What was, despite what any coach will say, scheduled as a tune up game for Clemson turned out to be quite the challenge for the Frogs.The Frogs’ secondary better step up and make the adjustments needed for good coverage, or TCU doesn’t stand a chance against a good Tiger offense this Saturday. The 109 Previous articlePanthers seek first district win in home openerNext articleOrganizers: Eating disorder walk exceeded expectations The 109 RELATED ARTICLESMORE FROM AUTHOR Facebook Abortion access threatened as restrictive bills make their way through Texas Legislature Twitter Stories from the polls: Election Day in The109! The 109 + posts TCU athletes are “SPARK-ing” an interest in Fort Worth area students TCU athletes are “SPARK-ing” an interest in Fort Worth area studentslast_img read more

TCU is bowl eligible; defeats Texas 31-9

first_imgTCU rowing program strengthens after facing COVID-19 setbacks Linkedin Listen: The Podell and Pickell Show with L.J. Collier Garrett is a Journalism and Sports Broadcasting double major. He is the Managing Editor for TCU360, and his passions are God, family, friends, sports, and great food. Boschini: ‘None of the talk matters because Jamie Dixon is staying’ TCU is bowl eligible after defeating Texas, 31-9 Garrett Podell printTCU became bowl eligible Friday as they defeated the University of Texas in Austin, notching a decisive 31-9 victory for their sixth win of the season.“We got bowl eligible, and I’m very proud of this team,” head coach Gary Patterson said.Patterson is now 4-2 as a head coach versus Texas in his career. TCU improved to 3-0 against the Longhorns under their head coach Charlie Strong — giving the Frogs their first three-game winning streak over the Longhorns since winning four straight games from 1935-38.“We’re not afraid of the University of Texas, and they put their pants on the same way we do,” TCU backup quarterback Foster Sawyer said.Here are five takeaways from the game:Texas missed a number of red zone opportunitiesThe Longhorns marched all the way to the TCU 30 at the beginning of the second quarter before quarterback Shane Buechele threw an incomplete pass on fourth down. Texas kicker Trent Domingue hooked a 38-yard field goal wide right with nine minutes left in the first half. Texas had first and goal from four yards out and ran the nation’s leader in rushing yards, D’Onta Foreman, four straight times. On fourth down, Foreman was stuffed once again, but reached the ball toward the goal line but was ruled short of the end zone.“We just had to be a wall to keep a 250-pound running back out of the end zone,” TCU linebacker Ty Summers said. “Our playcalling with blitzes off the edge, it all came together.”Summers had a team-high 14 tackles, including a sack, to reach double figures for the eighth time in the last 10 games. He now has 105 tackles on the season.The Longhorns squandered a number of scoring opportunities, which allowed TCU to maintain a lead.“We survived the first half,” Patterson said. “I was very proud of them after that, and I told them that after all that to have the lead at half, we had a shot in this game.”Kenny Hill has another wildly inconsistent performance throwing the footballTCU quarterback Kenny Hill began the game in dominant fashion, marching the Horned Frogs up the field in just 2:21 on their opening drive, which he capped with a four-yard scramble for six. Hill also had 65 yards passing on that drive, hitting four different receivers. After the opening drive, Hill threw for only 15 more yards in the first half and threw an interception.D’Onta Foreman dominatesD’Onta Foreman moved into second on Texas’ single-season rushing list and eclipsed 2,000 yards rushing on the season with 165 yards rushing on 31 carries.“He got about 170 yards, but some people thought he could get 400,” Patterson said. “He’s a really good back.”Summers said even though he rushed a significant amount of yards, “it was a pleasure to play against a talent like that.”TCU runs their way onto the scoreboardWhile TCU could never find the momentum throwing the football, they beat Texas in the running game. The Horned Frog offense totaled 309 yards rushing with a number of different players contributing.Hill ran the ball 13 times for 78 yards, including two touchdowns. Hill has nine rushing touchdowns on the year, second to running back Kyle Hicks, who has 12.Trevorris Johnson chipped in with 11 carries, 68 yards and a touchdown.However, TCU’s leading rushing was true freshman running back Darius Anderson. Entering the game with only 92 career rushing yards, Anderson finished the game with 103 yards rushing on three carries, including a 70-yard scoring scamper for the first touchdown of his college career.Sawyer said that Anderson has the “it factor.”“Darius Anderson is a baller,” Sawyer said. “Everyone on this team has the next man up mentality.”KaVontae Turpin will return next week Patterson had Turpin on the sidelines during Friday’s game but said he should be back next week.Deanté Gray filled Turpin’s void admirably. Gray returned four kicks for 117 yards, including one for 57 yards, a career high. True freshman cornerback Jeff Gladney also started in place for an injured Julius Lewis.“Deanté gave us a lot, and Jeff Gladney has practiced well the past two weeks and play played this past one and against Oklahoma State,” Patterson said.Patterson said it is unknown if Lewis will be ready to play next Saturday.TCU finishes off its regular season game against Kansas State in Amon G. Carter Stadium next Saturday. Kickoff is set for 11 a.m. Facebook Garrett Podell Previous articleTCU’s quest for bowl eligibility continues against TexasNext articleDFW Canines for Veterans helps veterans cope with PTSD Garrett Podell RELATED ARTICLESMORE FROM AUTHOR TAGSgame wontext only Boschini talks: construction, parking, tuition, enrollment, DEI, a student trustee Garrett Podell Twitter Linkedin Another series win lands TCU Baseball in the top 5, earns Sikes conference award TCU baseball finds their biggest fan just by saying hello Facebook Men’s basketball scores season-low in NIT semifinals loss to Texas ReddIt Twitter + posts ReddIt Garrett Podell Garrett Podell read more

News Now 3/27/20

first_imgLogo for News Now broadcast NewsNow Staff NewsNow Staff Linkedin TCU News Now 10/28/2020 TCU News Now 4/14/2021 NewsNow Staff Previous articleWhat to watch during quarantineNext articleHoroscope: March 28, 2020: NewsNow Staff RELATED ARTICLESMORE FROM AUTHOR TCU News Now 4/28/2021 TCU News Now 11/11/2020 NewsNow Staff Facebook ReddItcenter_img Twitter Facebook ReddIt TCU News Now 11/4/2020 Twitter + posts NewsNow Staff Linkedin TCU News Now 10/21/2020 TCU News Now 4/21/2021 printAn update on commencement, new numbers on COVID-19 and the song that’s making a comeback for a good cause. last_img read more

Greenland’s Retreating Glaciers Could Impact Local Ecology

first_img Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. More Cool Stuff Greenland appears in this image created using data from the ITS_LIVE project, hosted at NASA’s Jet Propulsion Laboratory. The coloring around the coast of the arctic island shows the speed of outlet glaciers flowing into the ocean. Credit: NASA/JPL-Caltech/USGSA new study of Greenland’s shrinking ice sheet reveals that many of the island’s glaciers are not only retreating, but are also undergoing other physical changes. Some of those changes are causing the rerouting of freshwater rivers beneath the glaciers, where it meets the bedrock. These rivers carry nutrients into the ocean, so this reconfiguring has the potential to impact the local ecology as well as the human communities that depend on it.“The coastal environment in Greenland is undergoing a major transformation,” said Alex Gardner, a research scientist at NASA’s Jet Propulsion Laboratory and co-author of the study. “We are already seeing new sections of the ocean and fjords opening up as the ice sheet retreats, and now we have evidence of changes to these freshwater flows. So losing ice is not just about changing sea level, it’s also about reshaping Greenland’s coastline and altering the coastal ecology.”About 80% of Greenland is blanketed by an ice sheet, also known as a continental glacier, that reaches a thickness of up to 2.1 miles (3.4 kilometers). Multiple studies have shown that the melting ice sheet is losing mass at an accelerating rate due to rising atmosphere and ocean temperatures, and that the additional meltwater is flowing into the sea.This study, published on Oct. 27 in the Journal of Geophysical Research: Earth’s Surface, provides a detailed look at physical changes to 225 of Greenland’s ocean-terminating glaciers, which are narrow fingers of ice that flow from the ice sheet interior out into the ocean. The data used in the paper was compiled as part of a project based at JPL called Inter-mission Time Series of Land Ice Velocity and Elevation, or ITS_LIVE, which brings together observations of glaciers around the globe – collected by multiple satellites between 1985 and 2015 – into a single dataset open to scientists and the public. The satellites are all part of the Landsat program, which has sent a total of seven spacecraft into orbit to study Earth’s surface since 1972. Managed by NASA and the U.S. Geological Survey, Landsat data reveals both natural and human-caused changes to Earth’s surface, and is used by land managers and policymakers to make decisions about Earth’s changing environment and natural resources.Glacier flow is imperceptible to the human eye, but this animation shows glaciers in Asia moving over a span of 11 years, from 1991 to 2002. The animation is composed of false-color images from Landsat 5 and 7 spacecraft. Moving ice is gray and blue; brighter blues are changing snow and ice cover. Credit: NASA/JPL-Caltech/USGS/Earth ObservatoryAdvancing and RetreatingAs glaciers flow toward the sea – albeit too slowly to be perceptible to the eye – they are replenished by new snowfall on the interior of the ice sheet that gets compacted into ice. Some glaciers extend past the coastline and can break off as icebergs. Due to rising atmospheric and ocean temperatures, the balance between glacier melting and replenishment, as well as iceberg calving, is changing. Over time, a glacier’s front may naturally advance or retreat, but the new research shows that none of the 225 ocean-terminating glaciers surveyed has substantially advanced since 2000, while 200 have retreated.Although this is in line with other Greenland findings, the new survey captures a trend that hasn’t been apparent in previous work: As individual glaciers retreat, they are also changing in ways that are likely rerouting freshwater flows under the ice. For example, glaciers change in thickness not only as warmer air melts ice off their surfaces, but also as their flow speed changes in response to the ice front advancing or retreating.Both scenarios were observed in the new study, and both can lead to changes in the distribution of pressure beneath the ice; scientists can infer these pressure changes based on changes in thickness analyzed in the study. This, in turn, can change the path of a subglacial river, since water will always take the path of least resistance, flowing in the direction of lowest pressure.Citing previous studies on the ecology of Greenland, the authors note that freshwater rivers under the ice sheet deliver nutrients (such as nitrogen, phosphorus, iron, and silica) to bays, deltas, and fjords around Greenland. In addition, the under-ice rivers enter the ocean where the ice and bedrock meet, which is often well below the ocean’s surface. The relatively buoyant fresh water rises, carrying nutrient-rich deep ocean water to the surface, where the nutrients can be consumed by phytoplankton. Research has shown that glacial meltwater rivers directly impact the productivity of phytoplankton – meaning the amount of biomass they produce – which serves as a foundation of the marine food chain. Combined with the opening up of new fjords and sections of ocean as glaciers retreat, these changes amount to a transformation of the local environment.“The speed of ice loss in Greenland is stunning,” said Twila Moon, deputy lead scientist of the National Snow and Ice Data Center and lead author on the study. “As the ice sheet edge responds to rapid ice loss, the character and behavior of the system as a whole are changing, with the potential to influence ecosystems and people who depend on them.”The changes described in the new study seem to depend on the unique features of its environment, such as the slope of the land that the glacier flows down, the properties of the ocean water that touch the glacier, as well as the glacier’s interaction with neighboring glaciers. That suggests scientists would need detailed knowledge not only of the glacier itself, but also of the glacier’s unique environment in order to predict how it will respond to continued ice loss.“It makes modeling glacial evolution far more complex when we’re trying to anticipate how these systems will evolve both in the short term and two or three decades out,” Gardner said. “It’s going to be more challenging than we previously thought, but we now have a better understanding of the processes driving the variety of responses, which will help us make better ice sheet models.” faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyCitizen Service CenterPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Business News STAFF REPORT First Heatwave Expected Next Week Make a comment CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Science and Technology Greenland’s Retreating Glaciers Could Impact Local Ecology Details about the physical transformation of over 200 of the island’s coastal glaciers are documented in a new study, in which the authors anticipate environmental impacts. From NASA/JPL-Caltech Published on Tuesday, October 27, 2020 | 3:00 pmcenter_img Top of the News Name (required)  Mail (required) (not be published)  Website  Community News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Community News Herbeauty11 Yummy Spices For A Flat TummyHerbeautyHerbeautyHerbeauty10 Brutally Honest Reasons Why You’re Still SingleHerbeautyHerbeautyHerbeautyWant To Seriously Cut On Sugar? You Need To Know A Few TricksHerbeautyHerbeautyHerbeauty15 things only girls who live life to the maximum understandHerbeautyHerbeautyHerbeautyGet Rid Of Unwanted Body Fat By Eating The Right FoodsHerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeauty Subscribe 82 recommended0 commentsShareShareTweetSharePin it Your email address will not be published. Required fields are marked *last_img read more

Rate Of Interest For Pendente Lite And Future Period

first_imgColumnsRate Of Interest For Pendente Lite And Future Period Pragati Aggarwal26 Sep 2020 4:30 AMShare This – xThis article is primarily in relation to the Original Applications (OAs) filed by banks and Financial Institutions (FIs) in Debt Recovery Tribunals (DRTs) under the provisions of Recovery of Debt and Bankruptcy Act, 1993 (RDB Act, 1993) Pendente Lite period means the period from the date of filing of the suit upto the date of judgment. Future period means the period from the date…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThis article is primarily in relation to the Original Applications (OAs) filed by banks and Financial Institutions (FIs) in Debt Recovery Tribunals (DRTs) under the provisions of Recovery of Debt and Bankruptcy Act, 1993 (RDB Act, 1993) Pendente Lite period means the period from the date of filing of the suit upto the date of judgment. Future period means the period from the date of judgment upto the date of realisation of the decretal amount. Nowadays banks and FIs are filing OAs in DRTs under the provisions of RDB Act, 1993 for recovery of huge amounts running into thousands of crores of rupees. In view of the same, the element of Rate of Interest has assumed a great importance. Most of the times, OAs filed by the banks and FIs are decreed for the claim amount but the interest for the pendente lite and future rate of interest is awarded at a rate lower than the contractual rate and that too on simple basis instead of on compound basis. RDB Act, 1993 vide Section 19(20) provides about the payment of interest for pendente lite and future rate of interest as below – “(20) The Tribunal may, after giving the applicant and the defendant an opportunity of being heard, pass such interim or final order, including the order for payment of interest from the date on or before which payment of the amount is found due upto the date of realisation or actual payment, on the application as it thinks fit to meet the ends of justice.” Before discussing the legal aspects of the above issue, let us understand the significance of the pendente lite and future rate of interest by a few illustrations. Suppose an OA with a claim of Rs. 100 crores is decided by DRT in 6 years. The bank has claimed pendente lite and future period interest at the rate of 16% with quarterly rest and while deciding the above OA, the DRT grants only 12% interest per annum on simple basis. The calculation of interest for the pendente lite period in the above illustration are given in the following table – Principal Amount Rs. 100.00 crores Principal Amount Rs. 100.00 crores Compound Interest @ 16% per annum for 6 years with quarterly rests Rs. 156,33,04,164.89 Simple Interest @ 12% per annum for 6 years Rs. 72,00,00,000.00 Total Amount (A) Rs. 256,33,04,164.89 Total Amount (B) Rs. 172,00,00,000.00 Pecuniary Loss A – B = Rs. 84,33,04,164.89 Apart from the above pecuniary loss which had already occurred due to grant of reduced rate of interest on simple basis, the said loss is of a continuing nature accruing every month so long as the decretal amount is not realised in entirety. The severity of the pendente lite and future interest can be explained by another illustration where the pendency of the OA was for comparatively a longer period. Though RDB Act, 1993 vide section 19(24) stipulates that all possible efforts shall be made for disposal of the OA by DRTs within a period of 6 months, but the same is not happening and there are thousands of cases which are decided after periods of 5, 10, 15, 20 and even more than 20 years. There is one live matter which had been filed in Delhi High Court in 1986 and upon coming into force of RDB Act, 1993, the said matter was transferred to DRT-I, New Delhi. The said matter has already completed 34 years but is still pending for the adjudication. Now suppose, an OA with a claim of Rs. 50 crores is decided after pendency of 15 years and the DRT awards simple interest @10 % instead of the contractual rate of interest i.e., 15% with quarterly rest. The effect of reducing the pendente lite and future rate of interest from 15% with quarterly rest to 10% on simple basis is being explained in the following table Principal Amount Rs. 50.00 crores Principal Amount Rs. 50.00 crores Compound Interest @ 15% per annum for 15 years with quarterly rests Rs. 405,25,66,804.71 Simple Interest @ 10% per annum for 15 years Rs. 75,00,00,000.00 Total Amount (A) Rs. 455,25,66,804.71 Total Amount (B) Rs. 125,00,00,000.00. Pecuniary Loss A – B = Rs. 330,25,66,804.71 Generally speaking, the DRTs do not give any detailed reasoning for reducing the pendente lite and future rate of interest and/or making the same on simple basis as against the compound interest. It appears that the Hon’ble Judges while determining the pendenlite and future rate of interest do not apply their mind to the pros and cons of the same and perhaps are not aware of the fact that by so doing, they are going to cause loss of several crores of rupees to the banks and FIs and at the same time are granting unmerited financial bonus of corresponding amounts to the defaulters of the banks and FIs. Section 19(20) of RDB Act, 1993 which has been quoted above does not confer any discretion on the DRT to reduce the pendelite and future rate of interest but at the same time the said provision also does not stipulate that the DRT shall be bound to award pendente lite and future rate of interest at contractual rate only and that too on compound basis. Hence, there is a grey area and the tribunals pass the orders regarding pendente lite and future interest absolutely as per their discretion. In Central Bank of India v. Ravindra & ors. AIR 2001 SC 3095 (a Constitutional Bench decision), it has been held that the Expression “the principal sum adjudged” occurring in s. 34 CPC includes the amount of interest charged on periodical rests and capitalized with the principal sum actually advanced. It has been further held that “award of interest pendente lite and post-decree is discretionary with the court as it is essentially governed by s. 34 of CPC dehors the contract between the parties……………..The discretion shall be exercised fairly, judiciously and for reasons and not in arbitrary or fanciful manner.” It has been held in several cases that in the commercial loans, the pendente lite and future interest should be awarded at contractual rate (which comprises the rate of interest as well as the compounding rests) as a general rule and any reduction may be granted by the court in pendente lite and future interest only in exceptional cases for reasons to be recorded in writing. The Hon’ble Delhi High Court judgment in the matter of Canara bank vs. Marshall Cycle & Ors 1998 SCC OnLine Del 89 has held as under:- “It appears that the preponderance of authority is in favour of the view that when the borrower has promised to pay a particular rate of interest and avail the credit and on default by borrower, when an action is commenced ending in decree, the proper exercise of discretion would be to grant interest at the contractual rate from the date of suit till the date of realization. To reduce or deny interest would amount to penalizing the creditor for approaching the court and encouraging the debtor to deliberately and unjustly prolonging the litigation and this should be the ordinary rule” Further the Hon’ble Delhi High Court in Syndicate Bank vs. M/s W.B. Cements Ltd. 1988 SCC OnLine Del 254 has held that – “Para 14. …..The grant of interest at a rate less than the contractual rate, as matter of rule, will amount to giving a premium to those who trade upon the money of others. The defaulting borrower, in my opinion, cannot be given the benefit of the reduced rate of interest as a matter of rule only because the bank had to resort to legal recourse on account of non-payment by the borrower except of course in exceptional circumstances. The existence of exceptional or special circumstances will depend on the facts and circumstances of each case…… In my opinion, in commercial transaction, grant of interest at the contractual rate ought to be the rule and grant of interest at reduced rate a rare exception…..” The Hon’ble Gujarat High Court in the matter of Union Bank of India v. Narender Plastics 1990 SCC OnLine Guj 65 has held as under- Para 7: “The trial court ought to have realized that contractual rate of interest should be the rule and departure is a rare exception. This is so because ordinarily the court can not and would not vary the terms of contract arrived at between the parties. The mutual rights and obligations arising out of the contract are required to be respected and enforced by the courts. The court cannot and would not vary the terms of contract and impose a new contract on the parties. This is the basic underlying principle contained in the provisions of S. 34 of C.P. Code.” Para 8: “It is true that the court has discretion to make departure from the aforesaid ordinary rule. But such cases would be only those in which it manifestly appears to the court that the contract is unfair and unconscionable and its enforcement would be shocking to the conscience of the court.……..In cases wherein the amount advanced is to be recovered by public financial institutions, if the courts were to determine the “reasonable” rate of interest, it would be extremely hazardous and it may even lead to disastrous consequences. The task of managing the public money has been entrusted by the nation to the Bankers. It is not entrusted to the courts. Therefore, ordinarily it would not be proper for the courts to arrogate to themselves the task which is not assigned to them…….If the course adopted by the trial court is to be confirmed and if the Bankers are required to take “flexible and pragmatic” approach, it would be an invitation to the traders and businessmen to make defaults in making payments and enter a deal with bank officers……..If this course were to be approved, the honest debtors who are sincere and regular in making payment would be hit by dishonest and unscrupulous people.……..If such “flexible and pragmatic” approach is adopted by the bankers, the end product which may be delivered to the society would not be justice but it would certainly be atrocious injustice and ill-gotten gain by the defaulting debtors. All these would happen at the cost of the society. Such a course would have a dangerous portents for future justice delivery system itself.” Para 11: “It needs to be emphasized that weak financial condition should ordinarily not be the criterion for reducing the agreed rate of interest in commercial transactions. A businessman or a trader or an industrialist, who has taken loan from commercial bank or any other FI, would commit default only when his financial circumstances may not permit him to make regular payment and when he is passing through financial crisis. Default in making payment will tell upon his credit. Even one default may be precursor of major catastrophe. Whenever the bank or financial instrument is constrained to file a suit for recovery of money from defaulting debtors, in almost all cases it would be a case of weak financial position of the defaulting debtor. Therefore, weak financial position of defaulting debtor ordinarily cannot be a relevant circumstance for making departure from the rule that in a commercial transaction, the rate of interest to be awarded by the court should be the contractual rate of interest. The same view has been taken by Hon’ble Punjab and Haryana High Court in the matter of Kamlesh Bhargava Hospital and Research Centre (Pvt.) Ltd. and Ors. Vs. Debts Recovery Appellate Tribunal and Ors. reported in MANU/PH/2665/2012 – “26. It is the settled proposition of law that reduction of interest from contractual rate to a lower rate, would be permissible only in exceptional and special circumstances. So far as the present case is concerned, no such special or exceptional circumstances have been pointed out so as to enable this Court to interfere in the matter, reducing the contractual rate of interest. Even in the judgments relied upon by the learned senior counsel, it has been held that award of interest, pendente lite and post decree, is discretionary with the Court. In a given fact situation of the case, if the Court finds it appropriate to reduce the contractual rate of interest, it can exercise its discretion but the same is to be exercised judiciously. We have carefully scanned the record of the present case but could not find any sufficient reason to persuade ourselves, to agree with the contentions raised on behalf of the petitioners.” The Hon’ble Supreme Court in the matter of Punjab Financial Corporation Vs. Surya Auto Industries (2010) 1 SCC 297 has held that – “25. The High Court also committed serious error in declaring that the Appellant corporation will be entitled to charge simple interest at the rate of 10% w.e.f. 1.4.2003, i.e., after expiry of six months from the date of taking over the unit. Undisputedly, the Respondent had not challenged the terms of loan agreement. Therefore, the High Court could not have suo motu altered terms of agreement and directed the Appellant to make fresh calculation of the outstanding dues and allowed the Respondent to pay the amount as per fresh demand by selling the mortgaged property. This approach of the High Court is ex facie contrary to the law laid down in U.P. Financial Corporation v. Gem Cap (India) Pvt. Ltd. (supra) and Haryana Financial Corporation v. Jagdamba Oil Mills (supra). 26. The direction given by the High Court for review of pending cases in the light of judgment of this Court in Central Bank of India v. Ravindra (supra)is also unsustainable because, as mentioned above, the High Court was not called upon to examine the legality or otherwise of the terms of agreement entered into between the Appellant-corporation and Respondent under which the latter was obliged to pay interest at the particular rate with periodical rests. Moreover, conclusion No. 3 contained in para 55 of that judgment clearly postulates that stipulations incorporated in the contract entered into and binding on the parties shall govern their substantive rights and obligations in the matter of recovery and payment of interest.” A question has arisen as to whether in matters where the dues are secured by way of mortgage, any reduction in the rate of interest can be allowed or interest with quarterly rest can be refused. This question has been answered very succinctly by the Hon’ble Supreme Court in the matter of State Bank of India v. Yasangi Venkateshwara Rao (1999) 2 SCC 375- “8. We also find it difficult to agree with the observation of the High Court that normally when a security is offered in the case of mortgage of property , charging of compound interest will be regarded as excessive. Entering into a mortgage is a matter of contract between the parties. If the parties agree that in respect of the amount advanced against a mortgage compound interest will be paid, we fail to understand as to how the court can possibly interfere and reduce the amount of interest agreed to be paid on the loan so taken. The mortgaging of property is with a view to secure the loan and has no relation whatsoever with the quantum of interest to be charged.” It will be apposite to refer to the Judgment of the Hon’ble Supreme Court in Indian Bank vs. Blue Jaggers Estate Ltd. & Ors. (2010) 8 SCC 129 “22. The argument of the learned counsel for the respondents that the rate of interest is unconscionable, expropriatory and contrary to law also merits rejection because at no stage the respondents had questioned the terms on which loan and other financial facilities were extended by the appellant. That apart, after having enjoyed those facilities for more than one decade, the respondents cannot turn around and raise an argument based on the judgments of this Court in Central Inland Water Transport Corporation v. Brojo Nath Ganguly (1986) 3 SCC 156 and Delhi Transport Corporation v. D.T.C. Mazdoor Congress and others 1991 Supp. (1) SCC 600. It must be remembered that the respondents were not in a position of disadvantage vis-`-vis the appellant. If they so wanted, the respondents could have declined to avail loan and other financial facilities made available by the appellant. However, the fact of the matter is that they had signed the agreement with open eyes and agreed to abide by the terms on which the loan, etc. was offered by the appellant. Therefore, the doctrine of unconscionable contract cannot be invoked for frustrating the action initiated by the appellant for recovery of its dues. 25. ……The Court cannot lose sight of the fact that the bank is a trustee of public funds. It cannot compromise the public interest for benefitting private individuals. Those who take loan and avail financial facilities from the bank are duty bound to repay the amount strictly in accordance with the terms of the contract. Any lapse in such matters has to be viewed seriously and the bank is not only entitled but duty bound to recover the amount by adopting all legally permissible methods.” The Madras High Court in Dr. E. Prabakaran and Another vs. Lakshmi Vilas Bank Limited 2011 SCC OnLine Mad 563 has held that -“53…..Normally, the grant of interest at the contractual rate ought to be the General Rule However, the use of discretion to reduce the contract rate or refuse interest is an exception. To deprive or deny interest will tantamount to penalizing a Creditor for approaching the Competent Forum/Court and further will encourage the Debtor to wantonly and unfairly procrastinate the litigation. If a competent Forum/ a Court of Law is inclined to reduce the rate of interest either present or future, such reduction must be supported by valid reasons”. It is emphasised that a DRT is a creature of statute and has to dispense justice in accordance with the letter and spirit of the law. The DRT cannot travel beyond law and act as a charity institution at the cost of public money. The willful defaulters of the bank live a lavish life and reside in palatial houses, maintain several luxury cars in the names of different companies, trusts, individual relatives, etc. but because of the laxity in our legal position, they never cooperate in liquidation of bank dues. That as per existing legal provisions, no payments are required to be made by the borrowers/guarantors towards the liquidation of the claim amount or towards the interest amount accruing during the pendency of the OA. This results in a holiday for payment of monthly interest also. For example if the claim amount in a recovery application is Rs. 1000 crores, the minimum monthly interest will work out to Rs. 10.00 crores. The Borrowers/Guarantors during the pendency of recovery applications impliedly get exemption from payment of accruing interest also due to the absence of any statutory provision in the Act for payment of at least the interest component during the pendency of the Recovery Application. It is pointed out that the honest borrowers pay the interest to the banks on their loans at the contractual rate and with monthly rests. It will be a travesty of justice if those who default in repayment of loan and because of which the banks have to knock the doors of courts and tribunals are allowed any concession in the rate of interest for pendente lite and future period. Due to non-payment of bank loans by the defaulters, the cost of funds increases in the hands of bank because of which on the one hand they are compelled to charge higher rate of interest from the honest borrowers and at the same time banks also reduce the interest paid on the deposits of the public i.e. saving bank account and fixed deposit account. In this manner, the NPA percentage of the banks increases which adversely affects the rating of the Banks/Financial Institution at international level. It is the humble opinion of the author that the Section 19(20) RDB Act, 1993 is required to be amended so as to provide the following- A provision should be made requiring the defendants in pending OAs for payment of interest on the claim amount on monthly basis at least at the rate of 10% per annum which amount may be kept in an interest bearing no lien accounts which will be dealt in accordance with the final outcome of the OA. In case there are several defendants, the payment liability during the pendency of OA of each defendant should be allowed to be determined by the DRT. That as a general rule, the pendelite and future interest should be awarded at contractual rate at compound basis, but in exceptional circumstances, discretion may be given to the DRTs to reduce the rate of interest for reasons to be given in writing subject to a rider that such deduction in rate of interest shall be available only if the entire decretal amount is paid within such time as may be fixed by the DRT in its judgment but not exceeding 2 years from the date of the judgment. Views are personal only.Next Storylast_img

Wally Lowery talks folk art with CHMS art students

first_img Pike County Sheriff’s Office offering community child ID kits Folk art is defined as art originating among the common people of a region that reflects their traditional culture, especially everyday or festive items produced or decorated by unschooled artists.Wally Lowery, a member of the Troy City Board of Education, defines folk art in a much simpler way, as “art of the heart.”Wally Lowery, a Troy folk artist, enhanced his presentation for CHMS art students Monday with original folk art paintings. Lowery is pictured with his “Pea River Fish.”Lowery, who is making a name for himself as a folk artist, was the guest speaker at Jennifer Sullivant’s art classes at Charles Henderson Middle School Monday. Email the author Sponsored Content Plans underway for historic Pike County celebration “You just never know where your art might end up,” he said.Lowery showed the students two of his original works.“In the summertime, my grandmother would put tomatoes on her window sill to ripen,” he said, holding up a painting of tomatoes in a window, a strong remembrance of both his grandmother and her way of doing things.“I like to fish and I fish a lot in the Pea River but you’d never see a fish like this one in the Pea River. It has lots of different colored spots on it. But this is the kind of fish that I would like to catch, so it’s the kind of fish that I painted. You can paint anything that you can imagine or the way you remember things.”Lowery paints on found objects, including tin and wood. He had cut small squares of tin for the students to use as their canvases.He turned the students loose to paint “something that means something” from their storehouse of childhood memories.For several of the students, it was their “firsts” that were special – a first homerun, the first Ferris wheel ride or their first surfboard wipeout. Others painted family, friends and themselves and the places they call home.Sullivant said the students enjoyed having Lowery and learning about folk art and some of the folk artists who call Alabama home. And, they had a great time painting their first folk artworks. Published 11:00 pm Monday, September 24, 2012 By Jaine Treadwell Book Nook to reopen Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthTop 4 Methods to Get Fortnite SkinsTCGThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Wally Lowery talks folk art with CHMS art students Troy falls to No. 13 Clemson Remember America’s heroes on Memorial Day Lowery showed screen images of the artwork of the local folk artists and also some images of his work.“This one is called Black-eyed Santa,” he said and related the story of a relative who would always tease him that Santa wasn’t going to come see him.“He said that Santa Claus would not bring me any presents because he beat Santa up the year before,” Lowery said, laughing. “So I painted Santa Clause with a black eye.”Lowery said his “Santa” painting was purchased on eBay by one of President Obama’s Cabinet members. Latest Stories By Secrets Revealed This Video Will Soon Be Banned. Watch Before It’s… He told the students that folk art is a visible expression of what they feel about something that they see or something they hold as a special memory.Lowery introduced the students to the art of some of the area’s most noted folk artists, Mose T., Jimmy Lee Sudduth, Charlie Lucas, Wood Long, Betty Sue Matthews, John Henry Tony, Butch Anthony and Jean Lake.“Folk artists paint what they feel,” he said. “They paint with their hearts. Folk artists have stories about their paintings because they are painting about things that mean something to them. They love to tell the stories about their art.” Skip Print Article You Might Like Senior Services offers training and experience Times are tough, jobs are scarce, and if you’re a low-income senior who needs training to go back to work… read morelast_img read more

Open access data in polar and cryospheric remote sensing

first_imgThis paper aims to introduce the main types and sources of remotely sensed data that are freely available and have cryospheric applications. We describe aerial and satellite photography, satellite-borne visible, near-infrared and thermal infrared sensors, synthetic aperture radar, passive microwave imagers and active microwave scatterometers. We consider the availability and practical utility of archival data, dating back in some cases to the 1920s for aerial photography and the 1960s for satellite imagery, the data that are being collected today and the prospects for future data collection; in all cases, with a focus on data that are openly accessible. Derived data products are increasingly available, and we give examples of such products of particular value in polar and cryospheric research. We also discuss the availability and applicability of free and, where possible, open-source software tools for reading and processing remotely sensed data. The paper concludes with a discussion of open data access within polar and cryospheric sciences, considering trends in data discoverability, access, sharing and use.last_img read more

Foxtons gifts new finance chief shares worth £150,000

first_imgHome » News » Agencies & People » Foxtons gifts new finance chief shares worth £150,000 previous nextAgencies & PeopleFoxtons gifts new finance chief shares worth £150,000Just two weeks after his predecessor left, Richard Harris has been given a ‘golden hello’ of stock options from the struggling estate agency.Nigel Lewis15th August 201901,006 Views London estate agency Foxtons has given its new finance chief a ‘golden hello’ after the company revealed that it has rewarded Richard Harris 300,000 ordinary shares.Based on its current share price of 51.6p this makes the optioned stock worth £153,000.Harris arrived to take the Chief Financial Officer seat in May from electronics firm Laird after his predecessor, Mark Berry, left by ‘mutual agreement’ for personal reasons at the end of July.As part of the deal, Berry was given three months’ salary in lieu of any bonus earned during the 2019 financial year.Five yearsHarris is being given the stock under the company’s Group Share Option Plan and will have to wait five years before he can exercise his right to sell them.He now sits on a board that still has a huge mountain to climb. Although its most recent results revealed a stabilising rather than free-falling sales business, and improved performance within its lettings division, it’s a shadow of its former self.The company’s share price has plummeted over the past five years from £2.67p a share to its current level, not helped by a string of gloomy half and full-year results that revealed significant reductions in turnover and profit as the London market contracted. Earlier this year the company recorded its first loss since 2013.Foxtons’ most recent results released at the end of last month revealed revenues down by 3.5% to £51.1 million and losses deepening to £3.2 million.Richard Harris Foxtons August 15, 2019Nigel LewisWhat’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 Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more