Fincantieri Goes All In on Vard Acquisition

first_imgzoom Fincantieri Oil & Gas, a subsidiary of the Italian shipbuilding conglomerate Fincantieri, has launched a voluntary conditional general offer in Singapore for the ordinary shares of Vard Holdings Limited not already held by the company.The company said that the offer is for the remaining 44.37% of the Vard share capital not already held by Fincantieri O&G, which is equal to over 523.5 million shares.The price per share offered to the minority shareholders will be SGD 0.24 (USD 0.17), for a maximum consideration of SGD 125.6 million (USD 89 million) in case of full acceptance.Fincantieri said that the offer will be financed through available financial resources.Fincantieri O&G currently holds around 55.63% of the Vard share capital, following the acquisition of a majority stake in January 2013 and the subsequent mandatory general offer.Listed on the Singapore Exchange, Vard is one of the largest shipbuilders of offshore and specialized vessels, with nine shipyards in Norway, Romania, Brazil and Vietnam.“The purpose of the offer is to delist Vard from the Singapore Stock Exchange and the offer is conditional upon Fincantieri O&G acquiring more than 90% of the total Vard shares. Once this condition is met, the Singapore Stock Exchange may suspend trading of the Vard shares following the close of the offer,” Fincantieri said.The offer period will end on a date at least 28 days after the day the offer document is dispatched, subject to further extensions, according to the company.last_img read more

Scrapping Boxship Candidates to Get Younger and Bigger

first_imgzoom Amid a record year for containership demolitions in 2016, which helped suppress total fleet growth close to the rate for demand, shipping consultancy Drewry said that the scrapping candidates will get younger and bigger until the market recovers.Greater scrapping is a sign of the underlying weakness in the container market, and for its benefits to be fully realised much more will need to be carried out, Drewry said.So far this year there have been three record cases of ships being scrapped just before they reach their 10-year birthday, which before accounting for cash paid by the demolition yard for the reclaimed steel, implies a write-off of nearly 60% as containerships are normally depreciated over 25 years.As of November 7, a total of 151 ships have been sold for demolition in 2016 with an average age of 19 years, significantly lower than the average of 23 years recorded in each of the previous four years.“It seems that more owners, particularly of the non-operating kind, are deciding that scrapping is the least bad option available; over chartering out ships at historically low, and loss-making, levels or paying for idling costs until a hoped-for shipping market recovery happens,” Drewry said.As well as being younger, the size of scrapped vessels is also rising sharply with the 2016 current average being 3,500 TEU, up from just over 2,000 TEU in recent years.2016 scrapping sum will be in the region of 615,000 TEU2016 is already a record year for containership scrapping with over 520,000 TEU pulled from the water by early November. At the current rate the end-year 2016 scrapping sum will be in the region of 615,000 TEU, which would represent a 38% increase on the previous annual high of 444,000 TEU set in 2013.Unfortunately for owners, Drewry is not anticipating that demand will get much above 3% over the next two years, as much more new tonnage is scheduled to arrive over the next two years than in 2016, so owners will need to scrap even harder if they want to see supply growth fall into line.With nearly 3.2 million teu of new ship capacity scheduled for delivery – split roughly equally – in 2017 and 2018, to perfectly match supply growth with our demand forecasts will require that around 1 million teu will have to be scrapped in consecutive years. To achieve this, owners will have to look for ever younger and bigger ships to send to the demolition yards.last_img read more

DryShips Winds Down 2016 with Cut Loss

first_imgzoom Greece-based ship owner DryShips reported a full-year net loss of USD 198.6 million for 2016, considerably lower from a net loss of USD 2.8 billion seen in 2015. For the fourth quarter of 2016, the firm posted a net loss of USD 77.5 million, against USD 527.6 million loss recorded in the same period of 2015.The loss includes equity in losses of Ocean Rig, according to the firm’s data.Revenue for the full-year period was USD 51.9 million, compared to USD 969.8 million posted in 2015. Additionally, revenue for the last quarter of 2016 amounted to USD 12.8 million, against USD 23.7 million.As disclosed, no revenues from drilling contracts and lower voyage revenues led to the reduced total revenue.Voyage time charter equivalent (TCE) was much lower in 2016 and stood at USD 3.658, compared to USD 9,171 in 2015.Due to the prolonged market downturn in the drybulk segment and the continued depressed outlook on freight rates, DryShips started discussions last year with its lenders regarding the firm’s debt facilities.In December 2016, DryShips’ chairman and CEO George Economou took over the majority of the firm’s debt. A company controlled by Economou has become the lender of record under DryShips’ USD 85.1 million syndicated loan previously arranged by Germany’s HSH Nordbank.Last month, DryShips completed the USD 200 million common stock offering, raising USD 198 million that will be used to renew the company’s fleet and pursue investments in different shipping segments.“We are pleased to have put 2016 behind us. Having now restored our balance sheet and successfully raised over USD 300 million in new equity in the last 12 months, DryShips is in a unique position to opportunistically acquire vessels at prices close to historic lows,” George Economou, Chairman and Chief Executive Officer of the Company, commented.DryShips owns a fleet of 13 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1 million tons, 1 very large gas carrier (VLGC) newbuilding and 6 offshore supply vessels.last_img read more

Navios Holdings Sees Red Ink

first_imgzoom Greek shipping firm Navios Maritime Holdings widened its net loss in the first quarter of 2017, reaching USD 48.7 million, compared to a net loss of USD 7.5 million posted in the same period a year earlier.In the three month period ended March 31, 2017, the company’s revenue dropped to USD 95.3 million from USD 101.5 million seen in 1Q 2016.Furthermore, adjusted EBITDA for the quarter decreased to USD 17.5 million from USD 30.6 million recorded in the same period last year.“I am pleased with our results for the first quarter, in which we recorded revenue of USD 95.3 million, EBITDA of USD 17.5 million and net cash from operating activities of USD 28.6 million. We also ended the quarter with USD 138.2 million in cash, while having no committed growth CAPEX or any significant debt maturities until 2019. In a recovering market, we are positioned to enjoy substantial free cash flow from an increase in charter rates,” Angeliki Frangou, Chairman and Chief Executive Officer, commented.During the quarter, Navios Maritime Partners agreed to acquire the entire container fleet consisting of fourteen ships from Rickmers Maritime Trust. As informed, the acquisition of the first five 4,250 TEU boxships is expected this month.Additionally, the company formed Navios Containers, a Marshall Islands firm, which intends to sell around USD 15 million of its shares for aggregate gross proceeds of about USD 75 million.In late April, Navios Holdings reached a deal with FSL Trust Management, the trustee-manager of First Ship Lease Trust, to acquire a major share in the company. Definitive agreements are expected to be reached by September 30, 2017, according to the company.“The strength of Navios Holdings’ sponsorship allowed Navios Partners to grow significantly by raising USD 100 million in the first quarter and entering into an agreement to acquire the RMT fleet. In addition, it allowed Navios Containers to raise USD 75 million of gross equity proceeds in its initial capitalization. Navios Holdings also agreed to acquire control of the FSL Trust which owns 22 vessels,” Frangou added.In 1Q 2017, Navios Holdings agreed to sell two Handymax vessels, Navios Ionian and Navios Horizon for USD 11.8 million. The company said the vessels are collateral to its 7.375% First Priority Ship Mortgage Notes due in 2022.What is more, the company refinanced one of its existing debt facilities securing a 2010-built Capesize vessel with a USD 15.3 million new bank loan.In May, Navios Logistics acquired two product tankers, Ferni H and San San H for USD 11.2 million which Navios previously operated under capital lease with an obligation to purchase in 2020. The remaining capital lease obligation was terminated after the acquisition of the vessels. The acquisition of the two product tankers was financed with a USD 14 million five-year term loan.Currently, Navios Holdings controls a fleet of 66 operating vessels of which 40 are owned and 26 chartered-in. The company’s fleet has a total tonnage of 6.7 million dwt.last_img read more

Hurricane Recovery Report Oct 2

first_imgEMERGENCY MEASURES ORGANIZATION–Hurricane Recovery Report, Oct.2 When power returns to your home make sure your refrigerator comes on and that the inside temperature goes down as power surges may affect the operation of your refrigerator. Continue to buy small portions of food. Do not stock your fridge until power is permanently restored. When purchasing food either at a restaurant or grocery store ask questions about the storage or freshness of food and remember to check dates on packaging. It is important to prepare green bins for discarding food products immediately. Clean out any brush and dirt. Remove spoiled meats from their packaging and then wrap in newspaper, put in cereal boxes or similar type of material and place in your green bin. During this time it is important to wrap waste in packaging to absorb wetness and odour. Regular green bin pickup is on schedule and local municipalities will notify of any changes in this procedure. Wash your hands when discarding food as high levels of bacteria may be present. If a food does not appear normal in odour, colour or consistency do not consume it. Questions about food safety can be directed to 902-424-1173. Agriculture and Fisheries Minister Chris d’Entremont is in Ottawatoday meeting with Federal Agriculture Minister Lyle Vanclief todiscuss the impacts of Hurricane Juan and mad cow disease on NovaScotia’s agriculture industry. They will also discuss theflexibility of federal-provincial assistance programs. The Department of Justice’s Maintenance Enforcement Program (MEP)offices are back in operation and staff will be processingsupport payments as quickly as possible. The Supreme Court FamilyDivision in HRM remains closed due to damages to the building.Cases will be rescheduled or transferred to the Law Courtsdowntown. As previously announced, all schools in HRM, Colchester and EastHants will remain closed until at least Monday, Oct. 6. Officialsare assessing the situation school by school to ensure thatbuildings and property are safe for the return of students andstaff. An update on school openings will be issued by Sunday,Oct. 5 at 1 p.m. EMO advises Nova Scotians interested in the disaster financialassistance program that further information on the program willbe available soon. The public is asked to be patient as thecleanup process and power restoration continues. The government of Nova Scotia is extending the deadline forrecent and current government job competitions to help people whocouldn’t apply this week or who may have experienced technicaldifficulties applying online. More information about the Hurricane Juan recovery efforts andcontact numbers can be found on the Web site or through public inquiries. That number is902-424-5200 in Halifax or toll-free 1-800-670-4357. -30-center_img While restoration of power remains the primary focus, governmentstaff and emergency volunteers are also ensuring that health andsafety needs of Nova Scotians affected by Hurricane Juan arebeing addressed, Ernest Fage, Minister responsible for theEmergency Measures Act, said today, Oct. 2. Ninety per cent of Nova Scotia Power Inc. (NSPI) customers shouldhave power restored by tonight. The utility is working with theEmergency Measures Organization (EMO) to identify areas ofpriority that need to be addressed. “Co-ordinated provincial, municipal and federal efforts to assistNova Scotia Power in that essential work continues,” said Mr.Fage. “Work crews and EMO staff appreciate everyone’s patienceand co-operation during this difficult time. The cleanup is goingas quickly as possible with 1,200 military personnel workingdaily to remove debris.” Military personnel cannot work in areas where there are downedwires without NSPI personnel in attendance. The minister said the vast majority of Nova Scotia businesses areresponding in a generous and community-minded fashion. “In thoserare cases where someone may be taking advantage of the situationfor personal gain, we will investigate, and where deemedappropriate, prosecute.” To help speed repairs, the Department of Environment and Labour’spublic safety division has streamlined the approval processrequired to reconnect electrical masts and meters to buildings. As of today, health officials say there has been a 25 per centincrease in emergency department activity in HRM. Wait times fortriage patients at the QEII Health Sciences Centre are from fiveto six hours. Throughout the QEII region, about 120 additional inpatient bedshave been established to house relocated patients. About 30 long-term care and transitional care patients have been relocated toother facilities and 47 patients of Point Pleasant Lodge arebeing temporarily housed at CFB Stadacona. Home care is beingprovided on a priority basis. The Department of Health encourages seniors who need help to callthe Continuing Care toll-free line at 1-800-225-7225. The Red Cross is also helping seniors in public housing and low-income families by providing nonperishable food items inpartnership with the Metro Food Bank and Metro Housing Authority.Youth groups and Dalhousie University students are alsovolunteering. Diapers and baby formula are being provided toFamily Resource Centres. Community barbecues were held at 12public housing units in partnership with the Metro Food Bank andlocal businesses. The Red Cross will provide food to thoseaffected in the Truro area. The Department of Community Services reports that all IncomeAssistance offices are now open. Cases are being assessedindividually, and income assistance clients will be able to getup to $50 per family and $10 for each child to purchase food forthe next few days until power is restored. New applicants will beassessed the same way. Several Metro Regional Housing Authority buildings remain withoutpower. The Red Cross is delivering water to these buildings againtoday. Agriculture and Fisheries inspectors are visiting restaurants inColchester and Pictou Counties to ensure food safety. As power isrestored to households and businesses, the Department ofAgriculture and Fisheries offers the following tips:last_img read more

Board Says Woman Fired Because She Was Pregnant

first_imgAn independent human rights board of inquiry has found that a Brookfield woman lost her job as an esthetician because she became pregnant. Coralyn Fleck had been working for Ashton’s Salon and Day Spa in Truro for two years when she was terminated in June 2004. In May 2004 she informed her co-workers that she was pregnant and would need to take regular breaks as part of her schedule. She expressed concern about her bookings after this because time was not being allowed for the breaks. On June 7, 2004, Ms. Fleck was admitted to hospital and suffered a miscarriage after which her doctor placed her on bed rest for a week. After informing her supervisor of the doctor’s instructions, she received a termination letter on June 9, 2004. In his decision, board chair David MacDonald noted that the reasons given in Ms. Fleck’s letter of termination did not hold up under cross examination of the salon’s owner, Pamela Dean, at the inquiry. “Ms. Dean conceded in response to questions from the board that the reference to losing business and not getting people booked was not Coralyn Fleck’s fault,” wrote Mr. MacDonald. The chair pointed out in his decision that there were no warnings or attempts to deal with concerns prior to the termination letter being sent, leading to the conclusion that Ms. Fleck was let go because of her pregnancy. Ashton’s Salon and Day Spa has been ordered to pay Ms. Fleck $8,000 in general damages on or before August 31. A complaint is referred to an independent board of inquiry when the Nova Scotia Human Rights Commission believes a prima facie case of discrimination is made after an investigation by a human rights officer. The chief judge of the provincial court selects a board chair from a roster and the commissioners ratify the nomination. The decision on the complaint is then in the hands of the independent board. Evidence collected during investigation of a complaint is presented at the hearing by the commission’s legal counsel. The complainant and respondent can make submissions and question witnesses. The board chair then decides whether discrimination has occurred. All parties have a right to appeal decisions of boards of inquiry to the Nova Scotia Court of Appeal. A copy of the decision is available on the commission’s website at .last_img read more

Halifax 2014 Draws on Global Sport Community

first_img Within the next month, Halifax 2014 will be forming an Athletes Advisory Group, whose chair will also be added to the committee. The Commonwealth Games Federation requires a minimum of 10 sports out of a total 26 possible sports to be held during the Games. Five of these sports are mandatory (athletics, aquatics, lawn bowls, rugby 7s, and netball). The remaining sports are selected by the host country as part of its bid. “Halifax has a long and proud sporting history,” said Mr. Garner. “The 2014 Commonwealth Games will showcase our sporting tradition and bring a world audience to Nova Scotia.” Mr. Garner and the sport advisory committee will work closely with the National Sport Organizations and International Sport Federations to ensure Halifax’s venues meet all technical details and standards. For the past eight years, Mr. Garner has been executive director of Events Halifax. He was the general manager of the 1997 Senior World Canoe Championships and was an executive board member for the 2003 IIHF World Junior Hockey and 2004 IIHF World Women’s Hockey championships. “Our sport team is working to ensure that we host a world class Games that will meet athletes’ needs but will also leave behind a sustainable legacy for future generations,” said Halifax 2014 CEO Scott Logan. “The 2014 Commonwealth Games will give young Nova Scotians increased opportunities and access to participate in physical activity and therefore live healthier lives.” The Commonwealth Games are an international sport and cultural event held every four years in which athletes from 71 Commonwealth nations and territories compete. In December 2005, Halifax won the right to be Canada’s candidate city for the 2014 Commonwealth Games. In competition with Glasgow, Scotland, and Abuja, Nigeria, the Halifax 2014 bid committee is now focused on developing and winning the international bid, which will be awarded by the Commonwealth Games Federation on Nov. 9, 2007, in Sri Lanka. For more information see the website at . A former athlete and Olympic coach will lead a group of sports experts on the new sport advisory committee for the Halifax 2014 Commonwealth Games Bid Committee. Frank Garner, former international level athlete, Olympic coach, chief Olympic canoe official and major sporting events administrator was named today, Sept. 8, the director of sport for Halifax 2014. Mr. Garner will head the Halifax 2014 Sport Advisory Committee which will oversee the selection of sports that will be part of the Halifax 2014 Games bid. The sport advisory committee includes bid committee representatives as well as sport administrators and experts from the local, national and international sport community. The committee members are: Larry Sengstock; director of sport, Melbourne 2006 Gary Furlong; sport officer, Halifax 2014 Betty Lou Killen; venues officer, Halifax 2014 Ken Bagnell; president Sport Centre Atlantic Jamie Ferguson; CEO Sport Nova Scotia Lindsay Hugenholtz; director of games, Department of Health Promotion and Protection Kathy Hare; director of international programs, Commonwealth Games Canada Eric Savard; bid director, Commonwealth Games Canada Rob Paradis; senior program officer, Sport Canada. last_img read more

Government Surplus Items Keep On Working

first_img All profits are used to help reduce pay down the provincial debt. Surplus items are distributed under the authority of the Surplus Crown Property Disposal Act. The 10 categories of surplus items listed in the report are: Almost $900,000 was returned to the provincial treasury in 2006-07 through the province’s annual disposal of surplus Crown property. The province’s Surplus Crown Property Disposal Report was tabled today, Dec. 3, in the legislature. It outlines how surplus materials were disposed of during the 2006-07 fiscal year. “Most of the items on this list have been very well used,” said Murray Scott, Minister of Transportation and Infrastructure Renewal. “But even after things wear out and standards change, we do our best to make sure that nothing useful goes to waste.” The Computers for Schools Program, a partnership that keeps older computers working, is the main beneficiary. Through this program hundreds of thousands of dollars worth of used computer equipment continues to be put to use. The province is the second largest donor to the program. The list of donated equipment includes 1,570 computers, 1,397 keyboards, 1,262 monitors, 469 printers, and 587 computer mice. The equipment will be refurbished and put into schools throughout Nova Scotia. “Instead of ending up in landfills, these computers are continuing to be useful,” said Mr. Scott. “These machines may no longer be suitable for critical government functions but they will be of great value in a school environment.” In addition, a wide range of additional surplus equipment such as chairs, tables, desks, and filing cabinets are donated by request to non-profit and community groups. Among the less common items donated were ornamental plants (to the Camp Hill Veterans Memorial Building, QEII Health Sciences Centre), a lawn tractor and a robotic arm. There were 108 organizations that received items. Along with detailing the above donations the report also outlines the $898,065.08 in net revenue raised by surplus sales. Below raised by gross surplus sales: disposed real property (i.e. land and/or buildings) VHF asset disposal initiative items sold at public auction heavy equipment sold at public auction items sold through public tender items donated to non-profit, non-government agencies material sent for recycling computer equipment for the Computer for Schools program scrap waste surplus equipment used in school renovations and construction $485,878.37 in the sale of surplus land was also the largest revenue generator $472,715 through the department’s auction of heavy equipment $64,506.21 through the auctions of other surplus equipment The full report is available on the Transportation and Infrastructure Renewal website at .last_img read more

Finance Minister Baker Meets with Counterparts in Ottawa

first_imgFinance Minister Michael Baker is in Ottawa today, Dec. 12, for a meeting of federal, provincial and territorial finance ministers. This is the first official duty for Mr. Baker since he took leave in November for hip-replacement surgery. “I am looking forward to discussing some of the economic and financial issues facing Nova Scotia and the rest of the country,” said Mr. Baker. “Everyone is affected by factors like the high Canadian dollar and it’s important for the federal government to hear provincial views on such matters.” The meeting will be hosted by federal Finance Minister Jim Flaherty. He will be joined by Bank of Canada Governor David Dodge, who will talk about monetary policy to deal with the rising dollar. Mr. Baker will outline some financial priorities for Nova Scotia, such as more federal assistance to promote productivity growth and more incentives for frontier energy exploration. Mr. Baker will resume his duties as Finance Minister when he returns to Halifax on Thursday.last_img read more

Nova Scotia Celebrates Tourism Week

first_imgNova Scotians are reminded of the importance of our tourism industry and are encouraged to get out and enjoy their favourite things to do in Nova Scotia during National Tourism Week from Monday, June 2 to Sunday, June 8. “We want to celebrate this industry for its continuing contribution to our economy and also for how it enriches our daily lives here at home,” said Bill Dooks, Minister of Tourism, Culture and Heritage. “During Tourism Week, we hope Nova Scotians will think about getting out to enjoy all the great things our beautiful province has to offer this summer.” Tourism contributes $1.3 billion annually to Nova Scotia’s economy and employs over 33,000 people in all areas of the province. About 65 per cent of tourism revenue is export earnings, or money spent here by visitors from outside the province, Nova Scotians are also important supporters of the industry. Advertisements running during the week encourage Nova Scotians to take in everything from the province’s culinary delights and traditional music, to its rich history and world-renowned natural wonders. The ads also mention the charm and character of Nova Scotians who bring it all to life. “Nova Scotians are known for being friendly, genuine and hospitable — it is something we take great pride in and it’s part of our brand that we sell to the world,” said Mr. Dooks. “Tourism is everyone’s business. Every little thing — a smile, helpful directions, fabulous food or great service — shapes a visitor’s experience, so as we open our doors to over a million tourists this summer, let’s go out of our way to be welcoming.” Also, during Tourism Week, on Thursday, June 5, Nova Scotia Archives and Records Management will launch a new online exhibit highlighting the history of tourism in Nova Scotia. For a list of activities taking place across the province during Tourism Week or to plan a Nova Scotia vacation, visit .last_img read more

Halifax Takes the Torch

first_imgThe Canada Games torch was officially passed to Halifax today, Aug. 29, as the flame was extinguished at the 2009 Canada Summer Games in Prince Edward Island. Dartmouth kayaker Hannah Vaughan received the torch on behalf of the Halifax 2011 Canada Games. Ms. Vaughan won three medals for Team Nova Scotia during the second week of the P.E.I. Games. Ms. Vaughan trains on Lake Banook – a key piece of the legacy left behind from the 1969 Canada Summer Games, the last Canada Games held in Halifax-Dartmouth. Everyone attending or watching the closing ceremonies on television were invited to come to Halifax in 2011 to compete, contribute, and celebrate the 2011 Canada Winter Games. “Success at the end of the day for the 2011 Games will be about delivering an event that puts the entire community at the core of the experience, not only athletes, but fans, volunteers, coaches, sponsors, community leaders and the general public,” said Jean-Paul Deveau, chair, 2011 Games. Athletes, fans, residents, and well-known people such as Sidney Crosby and Premier Darrell Dexter participated in a video played at the closing ceremonies, promoting the 2011 Games with the theme of “What will you bring?”. The video can be found online at Select staff and volunteers from the Halifax 2011 Canada Games Host Society attended the P.E.I. Summer Games from Aug. 15-29 to observe everything from results to accreditation and accommodations in preparation for the Winter Games. “We’ve taken away some great lessons from P.E.I. and we will work hard over the next year and a half to first and foremost put on an exceptional sporting event,” said Chris Morrissey, CEO, 2011 Games. “We want to make these Halifax Games unique and special for everyone involved.” The 2011 Canada Winter Games will be the largest multi-sport event in Halifax’s history and the city’s first Canada Winter Games. More than 2700 athletes will come to compete in over 20 sports, attracting thousands of visitors, VIPs, officials and media. Beyond the impact on the sporting community, the Games are expected to create about $80 million for the local economy. More information on the Games can be found at read more

Province Expanding Safety Division

first_imgThe province is expanding its occupational health and safety division as part of ongoing efforts to improve workplace safety. A new outreach unit and 12 new positions are being created to focus on education, enforcement and compliance. These positions include senior directors, outreach and compliance staff and an engineer. These are in addition to the five new safety inspectors the province is hiring to help with more targeted inspections. “Our vision is to make the safety branch even stronger,” said Labour and Advanced Education Minister Kelly Regan. “This is another step in making Nova Scotia a safer place to work. We need to support our staff so they can support Nova Scotia workers and employers.” These changes, and several others, are being made as part of the province’s workplace safety strategy and align with the auditor general’s recommendations to improve the province’s health and safety services. The province is also working with industry to ensure officers are getting to more high-risk workplaces, improving compliance processes, and hiring a prosecutor who will focus solely on occupational health and safety.last_img read more

New Appointment to Board of Directors

first_imgThe chair of Nova Scotia Business Inc.’s (NSBI) board of directors, Janice Stairs, today, Dec. 2, announced the appointment of Tom Hickey to the board. Mr. Hickey, an entrepreneur and business owner for 17 years, is originally from Glace Bay, where he maintains the head office for Atlantic Refrigeration and Air Conditioning, which services Atlantic Canada. Mr. Hickey is also president and CEO of T. Hickey Enterprises, which has been operating since 2001. T. Hickey Enterprises has 13 operating companies under his management. He is also CEO of Atlantic Road Construction and Paving Ltd. “We are pleased to welcome Tom Hickey to NSBI’s board,” said Ms. Stairs. “His business experience at home as well as in international markets such as the Middle East, Brazil, Mexico, and Europe will be a key asset.” In addition to his industry experience, Mr. Hickey is an active community member having volunteered in several charities including the Canadian Diabetes Association, as well as coaching his two daughters in competitive hockey. Mr. Hickey has been recognized with several awards such as being named one of Canada’s Top 40 Under 40, Eastern Canada’s Top 50 CEOs, BDC Young Entrepreneur of the Year, and Ernst and Young Entrepreneur of the Year. Nova Scotia Business Inc.’s board is made up of some of the top business minds from communities throughout the province, representing a diverse range of sectors and business interests.last_img read more

Premier Encourages Nova Scotians to Attend Remembrance Day Events

first_imgOn Remembrance Day, Nov. 11, the men and women who have served their country will be honoured across the province, and Premier Stephen McNeil is encouraging Nova Scotians to participate in events. “We live in a province with a strong and profound attachment to the military,” said Premier McNeil, also the minister responsible for military relations. “Nova Scotians deeply respect the contributions military members, both past and present, have made in serving our country.” Each year at the eleventh hour of the eleventh day of the eleventh month, Nova Scotians gather in community halls, memorial parks and at cenotaphs to observe a moment of silence and mark the sacrifice of so many. “Appreciating and remembering the brave men and women who have served this country brings families and communities together, helps foster a stronger nation and a greater appreciation of the sacrifices made for us all,” said Premier McNeil. For information on Remembrance Day events, Nova Scotians can check with their local branch of the Royal Canadian Legion or their local municipality. -30-last_img read more

BJPTrinamool clash Bengal MP Nusrat appeals for peace

first_imgKolkata: A day after violent clashes erupted between the Trinamool Congress and BJP workers in West Bengal’s North 24 Parganas in which at least eight people from both parties were feared dead, Basirhat Lok Sabha MP Nusrat Jahan on Sunday appealed for peace. According to the police, three political workers, including two from the Bharatiya Janata Party (BJP) and one from the Trinamool Congress were killed in the clash in Sandeshkhali’s Hatgachi area under the Basirhat parliamentary constituency on Saturday. Also Read – Dussehra with a ‘green’ twist The BJP, however, claimed that five of their workers were shot dead while the state’s ruling Trinamool Congress alleged that three of their men have been murdered. “The matter is being taken care of… and things are under control… we all must appeal for peace now… its not a communal affair,” Jahan, the actress turned Trinamool Congress MP said. “I stand by humanity and secularity, I am praying for the family of the people who lost their lives irrespective of which party they belong to. Humanity comes first,” she said. She also requested everybody’s cooperation. “I request my friends from media to cooperate with us. Basirhat is a sensitive zone but we will make sure the people there are safe and that they don’t suffer,” Jahan added.last_img read more

Oppn MLAs seek probe in leak of budget on FMs Twitter ac

first_imgMumbai: Opposition lawmakers on Wednesday staged a protest over the alleged “leak” of Maharashtra budget provisions on Finance Minister Sudhir Mungantiwar’s Twitter handle before presentation in the Assembly, and sought a probe into the matter. The legislators, including NCP’s Ajit Pawar, Jayant Patil and Dhananjay Munde, held a demonstration over the issue in the state legislature premises during the ongoing monsoon session. “The government leaked the budget on Twitter even before it was presented before the legislature by Mungantiwar on Tuesday. We are protesting against the government’s such irresponsible approach. We want a probe into the matter by the cyber cell,”Munde said. Chief Minister Devendra Fadnavis and Mungantiwar on Tuesday dismissed the budget “leak” charge, saying the provisions were put out on Twitter 15 minutes after the finance minister began his budget speech in the Assembly. Meanwhile, the opposition legislators also criticised the BJP-led state government over the drought situation and sought complete farm loan waiver. They also took a dig at the government for allegedly sidelining senior BJP MLA Eknath Khadse, as he approached the legislature premises to attend the session. Khadse, who was earlier considered No. 2 in the Devendra Fadnavis-led government, resigned from the cabinet in June 2016 over corruption allegations in a land deal, but he was later given a clean chit by the Anti-Corruption Bureau.last_img read more

Sewer cleaning robots Delhi minister to meet Kerala engineers

first_imgNEW DELHI: The Delhi government is mulling over roping in robots to clean sewers in the city’s inaccessible narrow lanes and Social Justice Minister Rajendra Pal Gautam will travel to Kerala in July end to talk to a group of engineers in this regard. In February, the AAP government procured 200 sewer cleaning machines, but their large size doesn’t allow them to enter narrow lanes.”In cramped areas, people still resort to manual cleaning of sewers, many times without any safety gear. Our government is committed to completely eradicating manual scavenging. Now, we are considering roping in robots developed by a Kerala-based company to clean manholes,” Gautam said. The minister said he would visit Kerala in July end and the company, Genrobotics, will give a “live demo of the robot”. Also Read – Bangla Sahib Gurudwara bans use of all types of plastic itemsThe idea was first discussed in February during a meeting with experts from IIT Delhi and the Delhi Jal Board, an official of the government’s social welfare department said. Since then, the minister has held two meetings in this regard. But due to the code of conduct during elections, the idea could not be taken forward, he said. According to the company, the robot, named Bandicoot, takes 15 minutes to clean small sewers and around 45 minutes to unclog bigger ones. It can travel up to a depth of 20 meters. Municipal bodies in Kerala, Tamil Nadu and Andhra Pradesh have already commissioned Bandicoot. They have also trained manual scavengers to operate the bots from a safe distance.last_img read more

Boy band SANAMs ode to friendship day

first_imgMumbai: The boy band SANAM band is celebrating Friendship Day with a new single, ‘Apni yaari’. The song is composed by Clinton Cerejo and written by Amitabh Bhattacharya. ‘Apni yaari’ puts the spotlight on the essence of modern-day friendships. It also highlights the bond between the band members and how they connect with fans. “When we were approached to create an original track with Clinton Cerejo on friendship, we thought it was the perfect opportunity to put into words what we feel about each other,” said Sanam Puri, lead vocalist of the popular band. Also Read – I have personal ambitions now: PriyankaFormed in 2010, the band was earlier called SQS project. In 2013, they changed the name of the band to SANAM. “The journey that we have taken together as friends has been magical. From hitting it off together at Keshav’s garage and composing songs, to winning various competitions together, having each other’s back on off days is what has kept us together. “With this track, we had a chance to re-live our ‘yaari’ moments and bring it out in the best possible way for our fans,” Samar said, of the track commemorating Friendship Day, which falls on August 4.last_img read more

Threat of economic recession looming over country Mayawati

first_imgLucknow: Expressing concern over the prevailing economic condition in the country, BSP chief Mayawati on Saturday said threat of an “economic recession” is looming over the country. “In the midst of serious issues like widespread unemployment, poverty, price rise, illiteracy, health, tensions/violence, the threat of an economic recession is looming over the country,” she tweeted. “The trader community is dejected and worried. After job cuts, they are forced to commit suicide. The Centre must take this seriously,” she added.last_img

Youre perfect Anushka comes in support of Zareen

first_imgMumbai: After Zareen Khan was trolled over showing her stretch marks on her stomach, actor Anushka Sharma came out in support of the Veer star and said that she is just perfect. Anushka took to her Instagram stories to share an appreciation post. She wrote: “Zareen you’re beautiful and brave and strong and perfect just the way you are. #Appreciationpost #lookbeyondthebody.” Zareen was heavily trolled for putting up a photograph of her wearing a crop top through which her stretch marks could be seen. She then put up a note about “embracing her imperfections with pride rather than covering them up.” Also Read – I have personal ambitions now: Priyanka”For people who are very curious to know about what’s wrong with my stomach, this is the natural stomach of a person, who has lost 15 kgs of weight, this is how it looks when it is not photoshopped or surgically corrected.” “I’ve always been someone who believes in being real and embraced my imperfections with pride rather than covering it up,” she added. She will be seen in an independent film Hum Bhi Akele Tum Bhi Akele.last_img read more