On September 26th, the United Nations HeForShe movement is convening world leaders, global CEOs, activists and celebrities to introduce groundbreaking solutions to achieve gender equality around the world.Her Majesty Queen Rania, Hashemite Kingdom of Jordan, Award-winning Actress and UN Women’s Global Goodwill Ambassador, Anne Hathaway, and Actor and Activist, Winston Duke are set to issue a global call to action for gender equality during the Summit. Musical Artist MILCK is also scheduled to perform.Leading up to the Summit, Actor and HeForShe Advocate Mark Consuelos is launching the #MorePowerfulTogether campaign featuring major landmarks globally including the Empire State Building and CN Tower, Toronto. These buildings will turn off half of their lights on the evening of September 24th – creating a visual metaphor that illustrates the power lost when the world excludes half its population – women – from society, economies and communities. For full list of participating buildings, click here.Created by UN Women in 2014, the HeForShe solidarity movement has so far mobilized 1.7 million men as advocates for gender equality, generating more than 1.3 billion conversations on social media.WHERE: Cipriani 42nd Street, 110 E 42nd St, New York, NY 10017WHEN: Sept 26th | 10:00 A.M– 12:00 P.M. ET
The joint UN-African Union peacekeeping mission in Darfur, known as UNAMID, has received reports this week that Sudanese military planes bombed an area near Kutum, a town in North Darfur state. Fresh clashes have also been reported in the area around Tine in West Darfur and along the border with Chad.In a statement issued by his spokesperson, Mr. Ban said he takes the reports very seriously and he “calls on all parties to refrain from hostilities, to respect the spirit of the ceasefire recently declared by the Government of Sudan and to cooperate with UNAMID in investigating these reports.”Last week Khartoum announced an immediate ceasefire between its forces and the many rebel movements in Darfur, where fighting has raged since 2003 and led to the intervention of UNAMID to quell the violence and humanitarian suffering.An estimated 300,000 people have been killed in Darfur over the past five years because of fighting between rebels and Government forces, while another 2.7 million people had to flee their homes. The Sudanese military has been supported by militiamen, known as the Janjaweed, who have been accused of human rights abuses in their attacks on villages and other civilian targets.The UN and AU’s Joint Chief Mediator for Darfur, Djibril Bassolé, is in the region this week as part of his efforts to try to re-energize the peace process.While in El Fasher, the capital of North Darfur and the headquarters of UNAMID, Mr. Bassolé has met with the leadership of the United Resistance Front (URF), a rebel group, and with Minni Minawi, a leader of a faction of the Sudan Liberation Army (SLA/M) and now an Assistant to the Sudanese President.Meanwhile, the latest report of the Panel of Experts established by the Security Council to monitor the arms embargo in Darfur details how all parties to the conflict continue to carry out “flagrant violations” of the embargo.“Within Darfur the actions of all sides make it clear that a military solution to the conflict has been chosen over any substantive engagement in peace talks,” the panel wrote. “Attempts to bring the warring parties to the negotiating table or to broker ceasefires have failed.“The Darfur armed groups have further fragmented and insecurity continues to increase and is largely unaddressed. Offensive military over-flights continue with impunity and both the major armed groups and the Sudanese army have continued to carry out attacks.”The panel recommends that the Security Council consider widening the embargo’s coverage to include the entire territory of Sudan and neighbouring Chad and northern Central African Republic (CAR) as well.The group of experts also called for UNAMID and other peacekeeping or protection forces operating in the region to be given a more robust mandate and greater resources to better enforce the embargo, and for the panel’s capacity itself to be enhanced so that it can conduct more in-depth investigations into alleged violations. 19 November 2008Secretary-General Ban Ki-moon today urged all sides to the Darfur conflict to refrain from hostilities as the United Nations tries to verify “troubling reports” of aerial bombings by Sudanese military forces and renewed fighting in recent days across the war-torn region.
HALIFAX — Nova Scotia’s Liberal government finally moved on a contentious piece of labour legislation Tuesday, effectively imposing a wage package on the province’s 75,000 public sector employees and drawing a fiery response from the union representing the majority of them.Premier Stephen McNeil said the proclamation of the Public Services Sustainability Act was being done in the “best interests of Nova Scotians,” but the union president called that insulting.“It’s the arrogance of this government that just really cooks my goose,” said Jason MacLean, president of the Nova Scotia Government and General Employees Union (NSGEU).The act was passed in December 2015 to ensure third party arbitrators could not bind the government to wage settlements. At the time, McNeil promised it would not be brought into force until it was needed.The government’s move came two weeks after the Nova Scotia Government and General Employees Union (NSGEU) — the province’s largest — filed for arbitration on behalf of nearly 8,000 civil servants after last-ditch conciliation talks broke down. Those workers included corrections, child welfare and court employees.The new act would also cover thousands of other workers, including those in health care who are yet to reach new deals with the province.“I’ve made it very clear that an unelected, unaccountable arbitrator will not determine the taxpayers’ ability to pay,” McNeil told reporters.The act doesn’t end arbitration but does limit arbitrators from making awards that exceed the wage guidelines.It sets a wage pattern of three per cent over four years that will allow increases of one per cent in the third year of the contract, followed by 1.5 per cent in the fourth year and 0.5 per cent on the final day of the package.A retirement allowance is also frozen retroactive to April 1, 2015. The so-called public service award is a lump sum payment for retiring workers with at least 10 years of service.New employees will no longer be eligible for the payment under the government’s change.MacLean lashed out at the government’s move, even though he said he wasn’t surprised by it.“You have Stephen McNeil who I believe is a snake, and then you have (labour relations minister) Mark Furey who is basically the dishonourable middle man. These guys are taking control of where labour goes,” MacLean said in an interview.MacLean pointed out his union members are also taxpayers who will now have less money to spend as the province struggles with a sputtering economy.“And now he (McNeil) took away their public service award which is adding insult to injury because it is something that was freely and collectively bargained,” he said.McNeil said the act will be referred to the Nova Scotia Court of Appeal under the Constitutional Questions Act to obtain an opinion.He said the government is confident the law will stand up to constitutional scrutiny.“We believe the constitution says that everyone is entitled to open and free collective bargaining. We believe we’ve gone that process. We have been at the table many times with our (bargaining) units,” he said.MacLean said the union would wait to see how the Nova Scotia court rules, adding that the union also stands ready to mount a Charter of Rights challenge before the Supreme Court of Canada.“The NSGEU will not rest and they will make this government miserable,” said MacLean.The act exempts groups that already have agreements, including judges, doctors, physician residents, teachers, and about 15,000 management and non-union positions.McNeil was asked whether he believed his party’s re-election May 30 was an endorsement of his approach to the labour file.“This has been an endorsement on the direction of our government. We also know that Nova Scotians wanted our government to live within its means and they believe the approach that we were doing was a positive one.”Progressive Conservative Leader Jamie Baillie said the government’s move is part of “an expensive game.”“We are now condemned to years of legal costs,” Baillie said. “Millions of dollars that’s not going to go to doctors or health care because the government couldn’t get the job done in the normal way and has resorted to this kind of gamesmanship.”NDP critic Susan Leblanc said the government’s court referral signals a lack of confidence in legislation that she said will further sour labour relations in the province.“It basically says we don’t want to go any further in these negotiations, this is what we want, this is what’s going to happen, we’re allowed to do this, we are going to push it through. It’s a bullying tactic.”Earlier this year the government drew the ire of more than 9,300 public school teachers when it ended a 16-month contract dispute by passing legislation that imposed a contract settlement.The bill also gave teachers a three per cent wage increase over four years and froze their long service award retroactive to July 2015.It came after teachers had previously rejected three tentative agreements.
Laurentian Bank is accelerating its growth as it further beefs up its B2B Trust subsidiary by acquiring AGF Management’s trust operations for $415.5 million, its second large deal in six months.The move follows last November’s $165-million purchase of the MRS companies from Mackenzie.“We firmly believe that by acquiring AGF Trust we are putting in place yet another building block to solidify Laurentian Bank’s future,” CEO Rejean Robitaille said Wednesday during a conference call.The deal will improve the bank’s performance by increasing the scale of its operations, optimizing its efficiency and increasing net interest income and margins, said Robitaille.“It leverages B2B Trust’s solid base of business, lifts its already strong scale and efficiency to an even higher level and in one fell swoop expands B2B Trust’s network,” he told analysts.The addition of the Toronto-based trust also diversifies the bank’s portfolio and profitability.Last year’s acquisition of MRS has helped to offset weakness in the B2B Trust main business. Excluding MRS, the trust’s companies revenues were down four per cent and income was off 13 per cent in the first half of the year.“Without the acquisition of MRS, B2B revenue would be down and it’s almost all due to margin compression,” added Francois Desjardins, head of B2B Trust.During the second quarter, MRS contributed $10.7 million of B2B Trust’s $39.8 million of revenues. It also earned $10.6 million.AGF Trust will add $3.1 billion of loans and $2.9 billion of deposits, raising B2B Trust’s total loans and deposits to $22.1 billion. The number of clients will increase 25 per cent to 750,000, while 300 employees will be added.Laurentian Bank (TSX:LB) is paying net book value at closing for AGF Trust of about $242 million in cash. It will also repay $109.5 million in subordinated debt and the $64 million preferred share from AGF Trust to AGF Management Limited.AGF is expected to add $28 million to $30 million to 2014 net income. Pre-tax integration costs are expected to be $30 million to $35 million and will largely be incurred in 2013.AGF Trust provides guaranteed investment certificates and other savings products and lends money for investment and real-estate deals. It’s represented by 20,500 financial advisers and 1,050 mortgage brokers across Canada.B2B Trust, which will absorb AGF Trust, will continue to offer similar products through a total of more than 27,000 advisers.The deal gives AGF Management a war chest of $615 million including lines of credit to hunt for global acquisitions as it looks to strengthen its core investment management business.AGF Management (TSX:AGF.B) says it will use money from the sale and its line of credit to grow its investment management business.“There are a number of organizations today that are looking to exit the investment management business that we feel it’s an extremely exciting period frankly in our industry despite the challenges today,” Blake Goldring, AGF’s chairman and chief executive officer, said during a separate conference call.The wealth-management and mutual fund industry has been going through a period of consolidation, with the survivors using their increased economies of scale to overcome thinner margins and investors’ caution during volatile times.One of the biggest deals in recent years, Scotiabank (TSX:BNS) acquired full ownership of DundeeWealth Inc. by spending about $2.3 billion for the shares it didn’t already own. That deal was announced in 2010 and completed last year.About the same time, AGF purchased Acuity Funds, a mid-sized independent player, in a $325-million deal that increased the companies’ combined asset base by about 16 per cent.Goldring told analysts Wednesday that the strong Canadian dollar will help AGF’s expansion efforts, especially in the United States.Barclays Capital analyst John Aiken said in a research note that the transaction is a slight positive for AGF but doesn’t solve the challenges facing its main asset management business.“Not only does it dispose of operations that we considered non-core at best and a distraction to management at worst, it increases its cash position allowing for greater strategic alternatives for its core, asset management operations,” he wrote.“However, we underscore that this transaction does not solve any of the issues facing AGF in its asset management business. We still believe that the volatility in the markets will keep investors on the sidelines, negatively impacting gross and net sales levels as well as investment performance.”He said AGF would need to buy back about 20 per cent of its shares to reduce the hit from a reduction in the trust’s earnings.Blake said AGF has delivered “considerable value” since it acquired Chancellor Trust in 1988, which remained focused primarily on the prime mortgage business until 2000. But a strategic review last fall led AGF to decide to exit the trust business and recognize in B2B Trust a “formidable competitor” that shares the same vision.DBRS Rating Service said the acquisition by Laurentian (TSX:LB) is consistent with its strategy to build scale and distribution in its B2B Trust (B2B) business. But it said the second deal in months raises some concerns about the pace of integration.“However, our concerns are partially mitigated by the fact that the bank’s first acquisition, MRS Trust and related companies, which closed in November 2011, appears to be progressing on schedule with its integration plan,” it said in a report.On the Toronto Stock Exchange, AGF Management’s shares closed at $12.24, up 52 cents or 4.4 per cent in Wednesday trading. Laurentian’s stock gained $1.11 or 2.69 per cent to $42.35. by Ross Marowits and David Paddon, The Canadian Press Posted Jun 6, 2012 5:30 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Laurentian Bank accelerates growth with AGF Trust purchase, second in six months
Fearing spreading violence, world leaders to build coalition against Islamic State militants AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Lara Jakes, The Associated Press Posted Sep 3, 2014 1:31 pm MDT WASHINGTON – World leaders, nervously eyeing a growing threat from Islamic State militants, will seek to build a united front this week against the violent extremist group and keep it from creeping beyond its borders.Yet international plans to counter the Islamic State group — with combined military might, diplomatic pressure on abetting partners and economic penalties — pale in comparison to the extremists’ ruthlessness and command of the swath of land it controls across parts of northern Syria and Iraq. For the second time in as many weeks, Islamic State militants released a video showing the beheading of an American journalist, and governments from Britain to Saudi Arabia to Australia warned of the potential of their citizens joining the fight — and then bringing the violence back home.“Our objective is clear, and that is to degrade and destroy ISIL so that it’s no longer a threat,” President Barack Obama said Wednesday during a visit to Estonia, using an alternate acronym for the Islamic State. He later headed to Wales for an annual meeting of leaders of the NATO military alliance.Separately, during an appearance in Maine, Vice-President Joe Biden declared that the U.S. will pursue the militants to “the gates of hell.”In Wales, British Prime Minister David Cameron said he was considering joining a nearly monthlong U.S. airstrike campaign in Iraq against the Islamic State group, adding to military aid that London has already approved.“We’ll always ask ourselves what is in our national interest,” Cameron said, according to Britain’s Guardian newspaper. “Not ruling things out, but going forward in a deliberate, sensible, resolute way.”And in the Mideast, the United Arab Emirates called for a co-ordinated international effort to tackle the “global scourge” of terrorism, raising particular concern about the threat posed by Islamic State fighters.The heightened urgency reflected fears that the Islamic State was growing stronger in its quest to create a caliphate territory in the Mideast and systematically kill any who resist. The group is considered even more merciless toward its enemies than the al-Qaida terror network, and intelligence officials across the world warn that it may soon seek to seed its violence beyond its declared borders.So far, the Islamic State has beheaded two American journalists it held captive for what the militants called payback for more than 120 U.S. airstrikes on its assets in northern Iraq since Aug. 8. Journalists James Foley and Steven Sotloff were two of what the State Department has described as “a few” Americans still being held hostage by the group. The Islamic State also had threatened to kill a British man it is holding hostage.In a statement Wednesday, a family spokesman said Sotloff dedicated his life to portraying the suffering of people in war zones, but was “no hero.”Family spokesman Barak Barfi told reporters gathered outside the family’s suburban Miami home that Sotloff “tried to find good concealed in a world of darkness,” and to give voice to the weak and suffering in the Arab world. Barfi said Sotloff was “no war junkie,” but was drawn to the stories of the turbulent Middle East, and his family has pledged to “not allow our enemies to hold us hostage with the sole weapon they possess — fear.”Sotloff, a 31-year-old who freelanced for Time and Foreign Policy magazines before he was captured in Syria a year ago, was also an Israeli citizen. But his Jewish faith and Israeli citizenship were not widely known before his death — in part because Israel’s military censor apparently kept a lid on the story for his safety — and his killers are not believed to have known about his background.In Washington, Obama administration officials maintained that the U.S. will not launch a ground war against the Islamic State militants. But they stopped short of ruling out airstrikes against the group in its safe haven in Syria, as the U.S. has resisted for years.Obama has “been clear that we’re not going to be limited by geography,” State Department spokeswoman Jen Psaki said. She described a range of actions being considered against the Islamic State, and noted that decisions and discussions were ongoing.Over the past day, Secretary of State John Kerry and other administration officials have reached out to leaders from Australia, the UAE, Jordan, Qatar, Saudi Arabia, Italy and Israel to discuss how to combat the Islamic State. Psaki said the discussions focused on what each country might contribute — including weapons, humanitarian aid and other resources — and noted that some nations already have.Obama “wants to build an international coalition,” Psaki said. “That’s not going to be overnight. We need capabilities from many countries.”The push also mirrors concerns that the Islamic State will lure foreigners to the fight — who will then return home to launch attacks.A compilation of government estimates shows more than 2,000 people with European passports have fought or are fighting in Syria and Iraq, with most looking to join the Islamic State group.In Australia, officials said Prime Minister Tony Abbott has mobilized public support for fighting the militants, and earlier this week singled out citizens and their supporters as a growing threat to his nation’s security.“People who kill without compunction in other countries are hardly likely to be law-abiding citizens should they return to Australia,” Abbott told Parliament on Monday.U.S. intelligence officials also believe a number of Americans seek to join the battle.The Islamic State and other extremists in Syria “threaten our people and our interests” in the Mideast, Matthew Olsen, the retiring director of the National Counterterrorism Center, told a think-tank audience in Washington on Wednesday. “Left unchecked, they will seek to carry out attacks closer to home.”___Associated Press writers Eric Tucker in Washington, Julie Pace in Tallinn, Estonia, Tia Goldenberg and Aron Heller in Jerusalem, David Fischer in Miami, Adam Schreck in Dubai, United Arab Emirates, Lori Hinnant in Paris and Raphael Satter in London contributed to this report.___Follow Lara Jakes on Twitter at: https://twitter.com/larajakesAP
Staff at the National Orthotic and Prosthetic Appliance Workshop at the Ptolemy Reid Rehabilitation Centre have benefited from a one-week training session conducted by the California based company Prosthetika.Senior Technician Collin Charles working on a quadrilateral socketProsthetika is a non-profit organisation that provides prosthetic, orthotic, and rehabilitation training and assistance in areas where such services are lacking.According to a Department of Public Information (DPI) release, a team comprising Jon Batzdorff, Director of Prosthetika along with London-based, David Nicholas, Ian Carrick of RSF International Incorporated of Canada and England-based Laura Burgess, Clinical Specialist Physiotherapist were in Guyana from April 9-13.Senior Technician of the National Orthotic and Prosthetic Appliance Workshop, Collin Charles, said that the team assisted with “manufacturing and demonstrating how to construct a different type of design socket.”Charles explained that the new socket differs vastly from that which the workshop currently produces, which is the quadrilateral socket.The workshop which produces roughly over 100 prosthesis and orthosis limbs now have staff who are trained to produce the issuance metal container socket.Melroy Pyle shows off his new arms (Adrian Narine image)This socket is said to be the world’s most adjustable socket. Its adjustability lies at the fingertips, with advanced pressure distribution. It is made from state-of-the-art fabrics with a superior design customised to suit the client.During the visit by the Prosthetika team, five persons benefitted from the new limbs. Two received above the knee prosthesis and two others required ankle foot orthosis (AFO).Melroy Pyle, a 37-year-old who lost his lower arms in a dreadful accident received the elbow prosthesis. All patients to date are overjoyed with their new limbs and have begun the journey to regain their mobility. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Related$50M school for Ptolemy Reid children commissionedJanuary 20, 2014In “Local News”Ptolemy Reid Centre celebrates 50 yearsDecember 11, 2017In “latest news”Concacaf Nations League Countdown: Golden Jaguars to face Suriname’s Senior Men’s team in training matchMarch 5, 2019In “latest news”
Cummins will debut four new engines for EPA Tier 4 Interim and EU Stage IIIB emissions regulations at Bauma 2010 in Munich, Germany from April 19-25. The ‘4 More For Tier 4′ engine reveal will take place from 10.15 am on stand 319/410 in Hall A4 on the first day of the show and will mark the debut of Cummins’ next generation of four-cylinder QSB3.3 and QSB4.5 engines for compact equipment, together with a first showing of the all-new QSX11.9 and QSX15 heavy-duty engines. The Tier 4 Interim engines will be displayed at Bauma as complete air-intake to exhaust aftertreatment systems, with all key technologies integrated by Cummins.The compact 3.3-litre and 4.5-litre QSB engines extend across the 56 kW to 119 kW power range, enabling OEMs to standardise four-cylinder installations with common Tier 4 Interim engine architecture. The all-new 11.9-litre and 15-litre QSX engines cover a broad 224 kW to 447 kW power band. The heavy-duty duo share the same performance-enhancing technology for Tier 4 Interim, such as Cummins’ new XPI common-rail fuel system.“Bauma is one of the world’s biggest equipment shows and offers an ideal opportunity for Cummins to present our four latest Tier 4 Interim engines to the industry,” said Hugh Foden, Executive Director, Cummins Off-Highway Business. The company says the four-cylinder QSB engines and the heavy-duty QSX engines bring a new power capability to the equipment industry for Tier 4 that goes beyond achieving very low emissions. They will realise up to 5% higher fuel efficiency and improve productivity with faster engine response. “Additionally, our single-system approach, from air-intake to exhaust aftertreatment, enables easier machine integration for OEMs,” added Foden.The four new engines will join the previously shown QSB6.7 and QSL9 MidRange family at the Cummins booth to complete a wide 56 kW to 447 kW power lineup for Tier 4 Interim.
Oculus Preview • Oculus Rift review: Welcome to the future 2020 Kia Telluride review: Kia’s new SUV has big style and bigger value Get Your Local Price 2020 Hyundai Palisade review: Posh enough to make Genesis jealous News • Oculus Rift S gets May 21 release date in Microsoft Store Review • Oculus Touch: The best VR controllers ever More about Oculus Rift $740 Share your voice CNET may get a commission from retail offers. 1 That VR headset is definitely more affordable than a real-life rally car. Dirt Rally 2.0 Fancy yourself an international rally champion, blasting sideways down gravel roads all across the world? Well, you’ll soon be able to feel like you’re doing it for real because Dirt Rally 2.0 will be available for virtual reality racing on the Oculus Rift.Dirt Rally 2.0 arrives on Feb. 26. On Friday, developer Codemasters confirmed on Twitter that the rallying game will also be offered on the Oculus Rift. While there are no further details, it’s safe to say that experiencing the game in VR should be a wild ride — you’ll be able to turn your head to look all around (probably not the best idea while going 120 mph over a blind summit).The game’s predecessor, Dirt Rally, also offered a virtual-reality experience that launched two years ago. Dirt Rally 2.0 promises “rebuilt and improved handling” and upgraded graphics. As ever, you’ll be able to drive a wide range of rally cars, with virtual tracks including locations in the US, New Zealand, Australia, Spain and Poland. It’ll also offer FIA Global Rallycross cars and courses. And as you can see in the trailer below, the cars and environments are gorgeously modeled.Dirt Rally 2.0 is available to preorder now for the PC, Xbox One and PlayStation 4. If you’re an Oculus Rift owner, though, you’ll have to wait just a little bit longer before you can dive into the virtual-reality world of rallying. Tags More From Roadshow Comment Car Games and Apps Video Games Mentioned Above Oculus Rift + Touch 2020 BMW M340i review: A dash of M makes everything better
The is no winner as yet in the North Slope Borough’s mayoral election, and officials indicate there may be a run-off election. With absentee and questioned ballots still to be counted, not one of the seven candidates has received the required 40 percent of the ballot.Download AudioCharlotte Brower (Photo courtesy of the Arctic Women’s Summit)The Borough’s election on Tuesday was held to find a someone to fill out the term of former Borough mayor Charlotte Brower, who was recalled in a special election in April. Charlotte Brower was criticized for spending Borough money on her family, while the Alaska Public Offices Commission fined her almost 35 thousand dollars for campaign finance violations.Despite her ousting, Charlotte Brower is seeking re-election. Tuesday’s vote talley shows that another former Borough mayor, George Ahmaogak, Sr., leads, with Harry Brower, Jr, running second and acting Borough mayor Mike Aamodt trailing third.The absentee votes will be counted on June 14. If none of the candidates receives 40 percent of the ballot, a run-off election must be held within 40 days.
Infosys co-founder N R Narayana MurthyREUTERS/Bobby YipFinally, the sublime moment came to the India’s second largest software exporting company, when Infosys co-founder N R Narayana Murthy said stability is back at Infosys and ‘all is well’ under the chairmanship of Nandan Nilekani.”Absolutely, all is well. Remember, in my speech with the investors, we said that now we have Nandan as the chairman, we can all sleep well. He is a very organised person,” Murthy told ET Now on the sidelines of the award function at their Bengaluru Campus.Co-founder Nandan Nilekani took the charge as the non-executive chairman of Bengaluru-based IT major after its first non-founder CEO Vishal Sikka quit on August 18 citing ‘criticism from the co-founders over strategy and compensation.’However, last month, Murthy raised his concerns and said that he was “disappointed” as the board has still not addressed questions that he raised about poor governance and excessive severance payments.”I stand by every question on poor governance raised in my speech to Infosys investors dated 29 August 2017. The fact remains that none of these questions has been answered by the Infosys board with the transparency it deserves. I am disappointed,” Murthy wrote in the statement on October 25.The 71-year-old industry veteran was at the Infosys headquarter on Wednesday to announce the winners of Infosys Science Foundation awards along with non-executive chairman Nandan Nilekani and other founders.Murthy further told ET Now that, “His (Nilekani) strength is the simplification of complex ideas. There are lots of complexities and he has his hands full. Let’s leave it to him and let’s keep quiet so that he can do his job well.”Last month after declaring the quarterly result, Nilekani declared that the company had found no evidence of wrongdoing in the $200 million acquisition of Israeli firm Panaya back in 2015.”Let me say that the investigations were regarding the (Panaya) matter and we’ve said that there is no merit in the allegations of wrongdoing,” Nilekani said.On making the investigation public, which is one of the demands raised by Murthy, Nilekani said, “Publishing additional details of the (Panaya) investigation would inhibit the company’s ability to conduct effective investigations on any matter in the future.”When the reporter asked about the next chief executive officer (CEO), Murthy said: “Nandan himself has been a CEO and he knows what he requires and there is no need for advice.”After the unceremonious exit of Vishal Sikka in mid-August, the software major has been aggressively looking for a CEO to lead the company from the front.
The central government’s proposed Rs 28,000 crore infusion in seven public sector banks (PSB) will reportedly help ease the economy’s liquidity. However, the cash infusion is unlikely to help the banks likely to be hit by the massive loan waivers that some state governments have announced.The newly elected Congress party governments in Rajasthan, Madhya Pradesh, and Chattisgarh have announced sweeping agricultural loan waiver programmes triggering concerns it could disrupt the lending cycles.While the state governments that announce agricultural loan waiver schemes eventually reimburse the banks, the delay could disrupt the banking cycles, experts say.The books of these banks are already under strain because of massive provisioning for bad loans, and the new capital infusion will only help them breathe more easily.The Reserve Bank of India’s norms of prompt corrective action has been putting pressure on these banks to make adequate provisioning for suspect loans.The Arun Jaitley-led Finance Ministry has been pressuring the RBI to take a number of steps to ease the liquidity that has squeezed the economy and reduced growth numbers when the government of Prime Minister Narendra Modi is entering an election year.Among the lenders likely to benefit are the Central Bank of India, United Bank of India, UCO Bank, Bank of India, Bank of Maharashtra Oriental Bank of Commerce and the Syndicate Bank, according to a report in the Economic Times.According to the report, Bank of India may receive the highest recapitalization amount of Rs 10,086 crore, followed by Central Bank of India (Rs 1,678 crore). The United Bank of India will benefit to the tune of Rs 2,159 and OBC Rs 5,500 crore.The Bank of Maharashtra’s share is expected to be Rs 4,498 crore and UCO bank’s Rs 3,056 crore, the reports says, adding the Syndicate Bank will be recapitalised with Rs 1,638 crore.Reports in early December quoted Finance Minister Arun Jaitley as saying that the government the total capital infusion for the financial year 2018-19 would be Rs 1.06 lakh crore with Rs 41,000 to be made available soon, according to a report in the Business Standard. The first three months of next quarter is likely to see massive fund flows to banks as the government hopes to reignite job growth ahead of the elections likely by the middle of the year.The current budget provided an estimated Rs 65,000 crore which has fallen short of the requirement as banks have faced a sharp jump in non-performing assets, sources said. So, the Finance Ministry sought Parliament’s approval through secondary supplementary demands for additional funds for banks’ recapitalisation.Jaitley then said the process of recognising NPA that began in 2015 had made considerable headway.
White cane, white stick, guide cane — however you refer to it — the traditional cane for the visually impaired has long been in need of a high-tech makeover. And now it has one, with technology inspired by bats, which can “see” in the dark using echolocation.Yes, a cane that uses sonar-like technology to see its environment and help people with visual impairments get around more safely. Far out, right?Enter the SmartCane, developed by computer scientists in Delhi, India. It’s not a cane in and of itself. Rather it’s a small, lightweight electronic device that attaches to the handle of a typical guide cane.Related: This Mighty Exoskeleton Can Give You Superhuman Strength (Sort Of)The nifty, double speaker-outfitted plastic attachment emits long (9-foot) and short (6-foot) ultrasound waves. As users wave the cane from left to right when they walk, the ultrasonic beams bounce off of and identify obstacles in the user’s path, particularly above knee height, a critical ability that old-school guide canes annoyingly don’t have.When someone or something is in the user’s way, the SmartCane vibrates to tactilely tip off the user to (insert lurking danger here, trees, moving cars, etc.), ideally in time to avert awkward and potentially dangerous collisions.Related: Google Is Developing an Ingestible Cancer-Detecting PillSo, yeah, it works pretty much the same way bats cluck echolocating chirps to find their way and their prey in the dark, only the device doesn’t sound as, well, scary.A similar add-on device, the UltraCane, was invented in 2011 in the United Kingdom. In a lot of ways, it works like the SmartCane, with some slight differences. Both smart cane attachment devices can be used indoors and outdoors. And their aim is the same: To keep the visually impaired on the right — and more importantly safe — path. Here’s a look at the UltraCane: Related: It’s a Bird. It’s a Plane. No, It’s a Flying Car (Finally)! October 30, 2014 Growing a business sometimes requires thinking outside the box. Register Now » Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global 2 min read