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Brewers love crafting a wide array of beers, but over time, beer drinkers have gravitated dramatically toward two key factors – hoppiness and drinkability.Total Energy Services Inc. ( OTCMKTS:TOTZF – Get Free Report ) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 8,400 shares, an increase of 68.0% from the November 30th total of 5,000 shares. Based on an average daily trading volume, of 5,500 shares, the days-to-cover ratio is currently 1.5 days. Total Energy Services Price Performance Shares of TOTZF stock opened at $8.25 on Friday. The stock has a 50-day simple moving average of $7.93 and a 200 day simple moving average of $7.28. Total Energy Services has a fifty-two week low of $5.72 and a fifty-two week high of $8.71. Total Energy Services Company Profile ( Get Free Report ) Read More Receive News & Ratings for Total Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Total Energy Services and related companies with MarketBeat.com's FREE daily email newsletter .
Shares of MTB Metals Corp. ( CVE:MTB – Get Free Report ) hit a new 52-week low during trading on Friday . The stock traded as low as C$0.01 and last traded at C$0.02, with a volume of 475000 shares. The stock had previously closed at C$0.02. MTB Metals Price Performance The stock has a market cap of C$1.88 million, a P/E ratio of -0.50 and a beta of 0.63. The stock’s 50 day simple moving average is C$0.02 and its two-hundred day simple moving average is C$0.02. MTB Metals Company Profile ( Get Free Report ) MTB Metals Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company explores for gold, silver, lead, zinc, copper, and other deposits. The company was formerly known as Mountain Boy Minerals Ltd. and changed its name to MTB Metals Corp. in March 2023. See Also Receive News & Ratings for MTB Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MTB Metals and related companies with MarketBeat.com's FREE daily email newsletter .For decades, ring girls like Sydney Thomas have been iconic figures in boxing , walking the ring with confidence and flair. Recently, influencers have stepped into the spotlight, joining the ranks of models at major fights. But now, their biggest competition might not even be human. AI influencers are coming for their crown, and the creator of Lily Hayes —the breakout AI star of Instagram—believes it’s only a matter of time before they crash the ring. Speaking to The Daily Star, Lily’s creator shared their vision for the future: “ Technology is moving so fast and sports organisations, who are inherently innovative, are beginning to embrace AI Influencers.” “Lily has built an incredible fanbase over the past 12 months, and boxing is a really exciting opportunity for her to break into the mainstream.” Lily Hayes' creator “ Ring Girls have always been a massive part of boxing, but the interesting thing about AI Influencers becoming Ring Girls is fans can actually connect with them online, 24/7 , and in multiple languages in the lead up to, during, and after the event.” “There's some big fights touted for 2025, including Tyson Fury vs Anthony Joshua at Wembley or in Riyadh so we'd love to get Lily on that card.”Trent Williams' wife, Sondra, says their son was stillborn
NoneNEW DELHI: The government has cancelled the auction of 11 critical mineral blocks in the fourth round due to poor response. While no bids were received for four blocks, the remaining seven mines got less than three technically qualified bidders, according to the annulment notice. The four blocks which include tungsten and glauconite, are located in the states of Chhattisgarh and Arunachal Pradesh. "Since there were nil bids received....the auction process for four mineral blocks stands annulled," the notice said. Critical minerals, such as cobalt, copper, lithium, nickel and rare earths, play crucial roles in the production of clean energy technologies, ranging from wind turbines to electric vehicles. "Since there were less than three technically qualified bidders...the auction process of these seven mineral blocks stands annulled," the notice said. The government had earlier cancelled the auction of three critical mineral blocks in the third round, 14 blocks in the second round, and 14 in the first tranche of critical minerals as the response was lukewarm. The government had earlier said that 24 critical and strategic mineral blocks have been sold in four rounds of auction. "Out of 48 blocks put to e-auction, 24 have been successfully auctioned, including four mining lease (ML) and 20 composite licenses (CL) blocks," the mines ministry had said. India is all set to launch a Critical Mineral Mission in the upcoming year to secure vital resources for green energy and technology. The initiative involves government, industry, and research collaboration, focusing on acquiring overseas assets like lithium and cobalt, particularly in Australia, and boosting domestic mining through auctions and roadshows. With a series of high-profile roadshows abroad along with plans to acquire critical mineral assets in Australia, India is set to woo international investors and make its mark on the global mining map. The countries are now racing in a bid to secure these vital resources, which include lithium and cobalt, through a complex web of policies and alliances, realising that critical minerals are the new lifeblood of the 21st-century economy. According to an estimate by the World Bank, by 2050, the production of minerals, including lithium and cobalt, will need to increase by nearly 500 per cent in a bid to meet the growing demand for clean energy technologies. At the same time, the International Energy Agency foresees that the rise in electric vehicles and battery storage will speed up the demand for these minerals at least 30 times by 2040. Critical minerals are also the backbone of the semiconductor industry. As the country pushes to become a global hub for semiconductor manufacturing -- a sector that is likely to reach one trillion dollars globally by 2030 -- the need for a stable supply of critical minerals becomes even more urgent. Semiconductors, tiny chips that power everything from smartphones to electric vehicles, depend heavily on materials like silicon, cobalt, and rare earth elements, in addition to access to technology.
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Published 20:57 IST, December 29th 2024 In 2024, the world lost several prominent figures whose deaths left a lasting impact across business, politics, music, and culture. The year 2024 saw the loss of some of the world’s most influential figures, from business leaders and politicians to musicians and cultural icons. These individuals had left a huge impact in their respective fields, and their deaths resonated deeply with people around the world. Here is a look at some of the most significant personalities who passed away in 2024, along with their contributions that shaped the world. Ratan Tata: The Iconic Industrialist Who Transformed India Ratan Tata, the former chairman of the Tata Group, passed away on October 9, 2024, leaving behind a monumental legacy. Tata was instrumental in making Tata Group a global leader in industries ranging from steel to automobiles. Under his leadership, the company made major acquisitions, including the purchase of Jaguar Land Rover and Corus Group. Beyond his business success, Tata was known for his philanthropic efforts, particularly in healthcare, education, and rural development. His commitment to corporate social responsibility made him a beloved figure in India and around the world. Liam Payne: One Direction Star Who Advocated for Mental Health Liam Payne, the British singer and former member of the globally successful boy band One Direction, tragically passed away on October 16, 2024. Payne rose to fame in the early 2010s with One Direction, which became one of the best-selling music acts in history. After the band went on hiatus, Payne pursued a solo career and continued to influence the music industry. He was also an advocate for mental health awareness, using his platform to raise awareness about the importance of mental well-being, especially for young people. His death left fans around the world mourning the loss of a talent and a voice that had inspired millions. Alexei Navalny: Putin's Main Opponent, Dies in Prison Alexei Navalny, Russia's top opposition leader, passed away at the age of 47 in February while imprisoned in the Arctic. His death was announced by the prison facility on February 16. Navalny had been serving a 19-year sentence for extremism charges. In December, he was transferred from a prison in the Vladimir region to a high-security penal colony called IK-3, also known as "Polar Wolf," located in the northern town of Kharp. From NFL Star to Courtroom Drama: OJ Simpson, Ex-NFL Star, Dies at 76 OJ Simpson, the former NFL player who gained worldwide fame, passed away on April 10 in Las Vegas at the age of 76. He died surrounded by his children and grandchildren, according to a statement from his family. While Simpson was known for his football career with the Buffalo Bills and the San Francisco 49ers, he became even more famous for his involvement in a high-profile murder trial. In 1994, Simpson was charged with the brutal murders of his ex-wife, Nicole Brown Simpson, and her friend, Ronald Goldman. His trial, which began in June 1994 and ended in October 1995, concluded with an acquittal, though the case continued to make headlines around the world. Beloved ‘Prof. McGonagall’ Dame Maggie Smith: A Legendary Career Celebrated Dame Maggie Smith, beloved for her roles as Professor McGonagall in Harry Potter and the dowager Countess of Grantham in Downton Abbey , passed away at the age of 89 on September 27. She was a legendary actress who won two Oscars, four Emmys, and a Tony Award. Her career, which started in the 1950s, touched the lives of millions. Maggie Smith was first nominated for an Oscar in 1965 for her role as Desdemona in Othello and won her first Oscar in 1969 for playing a school teacher in The Prime of Miss Jean Brodie . Other notable performances include her role as Lady Bracknell in The Importance of Being Earnest , in the play Three Tall Women , and in the film Gosford Park . In 1990, Maggie Smith was knighted by Queen Elizabeth and became a Dame. Indian Fashion Icon Rohit Bal Passes Away at 63: A Legacy of Bold Elegance Indian fashion mourns the loss of one of its greatest visionaries, Rohit Bal, who passed away on November 1, 2024, after battling a heart ailment. The celebrated designer died at the age of 63 in a Delhi hospital, just weeks after showcasing his final collection, "Kaaynaat: A Bloom in the Universe," at the FDCI x Lakmé Fashion Week. Born in Srinagar, Rohit Bal studied at Delhi University’s St. Stephen's College before pursuing his passion at the National Institute of Fashion Technology (NIFT). He launched his own label in 1986, quickly rising to prominence in both Indian and international fashion circles. Known for his distinctive love of whites, blacks, off-whites, and golds, as well as his bold motifs and luxurious fabrics, Bal became a defining force in the industry. Referred to as "poetry" by fellow designer Gaurav Gupta, his designs were graced by international stars like Uma Thurman, Pamela Anderson, Cindy Crawford, and Naomi Campbell. Bal’s final runway show, defying conventions as always, featured iconic figures like 1990s supermodel Sheetal Mallar and actress Ananya Panday, with music from legends such as Kate Bush and Madonna. Quincy Jones: The Music Legend Who Redefined Pop and Jazz Quincy Jones, the iconic US musician who revolutionized pop music through his collaborations with Michael Jackson and others, passed away on November 3 at the age of 91. Over a remarkable 65-year career, Jones—known as 'Q'—became a trumpeter, bandleader, arranger, composer, and producer, earning 28 Grammy Awards. A tireless workaholic, he shaped timeless jazz with Miles Davis, produced hits for Frank Sinatra, and brought together the star-studded lineup for the legendary 1985 charity song "We Are the World." Zakir Hussain, Tabla Maestro and Global Music Icon Died Leaving a Timeless Legacy Zakir Hussain, the iconic tabla maestro, passed away on December 16 in San Francisco at the age of 73, following a battle with idiopathic pulmonary fibrosis, according to his family. Known worldwide for his mastery of the tabla, Hussain's influence transcended borders, earning him reverence and admiration from music lovers globally. Born on March 9, 1951, in Mumbai, Hussain's early passion for tabla led him to collaborate with musical giants such as Ravi Shankar, Ali Akbar Khan, and Shivkumar Sharma. His collaborations weren’t limited to classical legends—he also joined forces with Western stars like The Beatles, Yo-Yo Ma, Charles Lloyd, Mickey Hart, and John McLaughlin. Hussain was a recipient of numerous prestigious awards, including the Padma Bhushan, Padma Vibhushan, and Padma Shri. He also won two Grammy Awards with Mickey Hart, and in March 2024, he made history by receiving three Grammys in one night for his work with John McLaughlin’s band 'Shakti' and collaborations with Béla Fleck, Edgar Meyer, and Rakesh Chaurasia. Survived by his wife Antonia Minnecola, daughters Anisa and Isabella Qureshi, his brothers Taufiq and Fazal Qureshi, and sister Khurshid Aulia, Hussain’s passing marks the end of an era, but his timeless contributions to music will continue to inspire future generations. Former PM and Architect of India's Economic Reforms: Manmohan Singh Former Prime Minister Manmohan Singh, aged 92, passed away at AIIMS Delhi on December 26 after being admitted in critical condition. Known as the architect of India’s economic transformation, Singh’s reforms as Finance Minister in 1991 helped steer the country out of a severe financial crisis. Singh, who served as Prime Minister from 2004 to 2014, began his government career as an economic advisor in 1971, later serving as the Reserve Bank of India (RBI) Governor. His leadership during India's pivotal economic reforms remains a defining moment in the nation's history. A scholar with degrees from Cambridge and Oxford, Singh was India’s first non-Hindu Prime Minister, taking office in 2004. He is survived by his wife, Gursharan Kaur, and three daughters. Born on September 26, 1932, in pre-partition Punjab, Singh's legacy of humility, principles, and visionary leadership continues to inspire leaders globally. Tributes have poured in from across the world, with leaders such as US President Joe Biden and French President Emmanuel Macron mourning his loss. Reflecting on Their Legacies As 2024 draws to a close, the passing of these figures has reminded the world of their lasting influence. While their deaths have left an irreplaceable void in their communities and industries, their legacies continue to inspire future generations. Their contributions to society, whether through innovation, art, politics, or social change, will be remembered long after their passing. Get Current Updates on India News , Entertainment News along with Latest News and Top Headlines from India and around the world. Updated 20:57 IST, December 29th 2024None
NoneKendrick Lamar surprises with new album 'GNX' LOS ANGELES (AP) — Kendrick Lamar gave music listeners an early holiday present with a new album. The Grammy winner released his sixth studio album “GNX” on Friday. The 12-track project is the rapper’s first release since 2022’s “Mr. Morale & The Big Steppers.” Lamar’s new album comes just months after his rap battle with Drake. The rap megastar will headline February's Apple Music Super Bowl Halftime Show in New Orleans. The 37-year-old has experienced massive success since his debut album “good kid, m.A.A.d city” in 2012. Since then, he’s accumulated 17 Grammy wins and became the first non-classical, non-jazz musician to win a Pulitzer Prize. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Ancient meets modern as a new subway in Greece showcases archaeological treasures THESSALONIKI, Greece (AP) — Thessaloniki, Greece’s second-largest city, is opening a new subway system, blending ancient archaeological treasures with modern transit technology like driverless trains and platform screen doors. The project, which began in 2003, uncovered over 300,000 artifacts, including a Roman-era thoroughfare and Byzantine relics, many of which are now displayed in its 13 stations. Despite delays caused by preserving these findings, the inaugural line has been completed, with a second line set to open next year. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. At least 19 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 19 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 167,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat sent to restaurants nationwide. Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli, which can cause life-threatening infections. No illnesses have been reported outside of Minnesota. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration. Actor Jonathan Majors’ ex-girlfriend drops assault and defamation lawsuit against once-rising star NEW YORK (AP) — Jonathan Majors’ ex-girlfriend has dropped her assault and defamation lawsuit against the once-rising Hollywood star after reaching a settlement. Lawyers for Majors and Grace Jabbari agreed to dismiss the case with prejudice Thursday. Jabbari is a British dancer who had accused Majors of subjecting her to escalating incidents of physical and verbal abuse during their relationship. Representatives for Majors didn’t respond to emails seeking comment Friday. Jabbari’s lawyer said the suit was “favorably settled” and her client is moving on with “her head held high.” Majors was convicted of misdemeanor assault and harassment last December and sentenced to a yearlong counseling program. Hyundai, Kia recall over 208,000 electric vehicles to fix problem that can cause loss of power DETROIT (AP) — Hyundai and Kia are recalling over 208,000 electric vehicles to fix a pesky problem that can cause loss of drive power, increasing the risk of a crash. The recalls cover more than 145,000 Hyundai and Genesis vehicles including the 2022 through 2024 Ioniq 5, the 2023 through 2025 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. Also included are nearly 63,000 Kia EV 6 vehicles from 2022 through 2024. The affiliated Korean automakers say in government documents that a transistor in a charging control unit can be damaged and stop charging the 12-volt battery. Dealers will inspect and replace the control unit and a fuse if needed. They also will update software. Christmas TV movies are in their Taylor Swift era, with two Swift-inspired films airing this year Two of the new holiday movies coming to TV this season have a Taylor Swift connection that her fans would have no problem decoding. “Christmas in the Spotlight” debuts Saturday on Lifetime. It stars Jessica Lord as the world’s biggest pop star and Laith Wallschleger, playing a pro football player, who meet and fall in love, not unlike Swift and her boyfriend, Kansas City Chiefs tight end Travis Kelce. On Nov. 30, Hallmark will air “Holiday Touchdown: A Chiefs Love Story.” Instead of a nod to Swift, it’s an ode to family traditions and bonding, like rooting for a sports team. Hallmark’s headquarters is also in Kansas City. Top football recruit Bryce Underwood changes commitment to Michigan instead of LSU, AP source says ANN ARBOR, Mich. (AP) — Top football recruit Bryce Underwood has flipped to Michigan after pledging to play at LSU. That's according to a person familiar with the situation who spoke to The Associated Press on condition of anonymity because they were not authorized to share the recruit’s plans to join the Wolverines. Underwood pinned a post on his Instagram account, showing a post in which On3.com reported that he has committed to Michigan. The 6-foot-3 quarterback played at Belleville High School about 15 miles east of Michigan's campus, and told LSU nearly a year ago he intended to enroll there. Emperor penguin released at sea 20 days after waddling onto Australian beach MELBOURNE, Australia (AP) — The only emperor penguin known to have swum from Antarctica to Australia has been released at sea 20 days after he waddled ashore on a popular tourist beach. The adult male was found on Nov. 1 on sand dunes in temperate southwest Australia about 2,200 miles north of the Antarctic coast. He was released Wednesday from a boat that traveled several hours from Western Australia state's most southerly city of Albany. His caregiver Carol Biddulph wasn't sure at first if the penguin would live. She said a mirror was important to his rehabilitation because they provide a sense of company. Biddulph said: “They’re social birds and he stands next to the mirror most of the time.”
{ "@context": "https://schema.org", "@type": "NewsArticle", "dateCreated": "2024-12-03T23:21:46+02:00", "datePublished": "2024-12-03T23:21:46+02:00", "dateModified": "2024-12-03T23:22:40+02:00", "url": "https://www.newtimes.co.rw/article/22325/news/economy/rwanda-has-successfully-completed-imf-commitments-resident-representative", "headline": "Rwanda has successfully completed IMF commitments – Resident Representative", "description": "In October 2022, the International Monetary Fund (IMF) approved $319 million for Rwanda as the first African country and the third in the world to...", "keywords": "", "inLanguage": "en", "mainEntityOfPage":{ "@type": "WebPage", "@id": "https://www.newtimes.co.rw/article/22325/news/economy/rwanda-has-successfully-completed-imf-commitments-resident-representative" }, "thumbnailUrl": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/03/65498.png", "image": { "@type": "ImageObject", "url": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/03/65498.png" }, "articleBody": "In October 2022, the International Monetary Fund (IMF) approved $319 million for Rwanda as the first African country and the third in the world to benefit from the Resilience and Sustainability Facility (RSF). The facility was a three-year arrangement that the IMF launched to help countries tackle long-term challenges, such as climate change. As the arrangement comes to an end, The New Times’ Business Editor Julius Bizimungu spoke to Gabor Pula, Resident Representative for IMF in Rwanda to discuss lessons learnt, how the facility has enabled Rwanda to embark on reforms that will shape the economy, and how the country can strike a good balance between financing its ambitious economic agenda and managing rising debt levels. Below are the excerpts: The RSF under which the IMF approved $319 million for Rwanda in 2022 is coming to an end. What lessons have you learnt? Rwanda’s early access to the RSF was made possible by the country’s preparedness and already existing climate policies. For example, at the time of the RSF approval, Rwanda already had a comprehensive climate diagnostic, which identified priority areas for reforms that could be supported by the RSF facility. Such a detailed climate strategy ensured a head-start to RSF reform implementation. Overall, the Rwandan authorities’ performance under the RSF programme has been exceptionally strong. To demonstrate their unwavering commitment to the RSF-supported climate agenda, the authorities even accelerated the implementation of the originally agreed reform measures. As a result, Rwanda has now successfully completed all its RSF commitments, six months ahead of the initial timeline (of December 2024). Rwanda is the first and only country among our members that managed to do this, and it highlights Rwanda’s ability to accelerate reforms ahead of schedule. Close cooperation with development partners has been also key to this success. Climate investments require complex technological and financial considerations, which – due to their novelty – are challenging even in the most advanced economies of the world. Rwanda has been particularly successful in absorbing external technical expertise provided by its development partners and integrating it with home grown solutions. As a result, Rwanda has managed to develop a unique approach to catalyze climate private financing, which could serve as a blueprint for other developing countries. This unique approach combines three main components: the advanced infrastructure of Private and Public Climate Investment Facilities (Ireme and Intego) that were established already before the RSF, the transparency frameworks, such as the climate budget tagging, green taxonomy and adoption of international climate reporting standards that were developed in the context of the RSF. Finally, it includes the use of innovative climate finance instruments, which ensure affordability of climate finance for Rwandan green entrepreneurs by blending concessional resources with market-based funding. Rwanda has a climate action plan that requires $11 billion through 2030. Do the reforms being undertaken enough to enable Rwanda raise this necessary funding? Given its limited fiscal space, Rwanda needs to rely on concessional and private climate financing to implement its ambitious climate agenda. Indeed, the overall cost of implementing Rwanda’s Nationally Determined Contributions (NDCs) strategy is estimated at $11 billion, which would imply investments amounting to 7 per cent of GDP each year during the 2020-2030 period. Given Rwanda’s already elevated debt level, room for public sector borrowing is limited. Domestic efforts to mobilise revenue and improve spending efficiency will help, but they take time. This puts the focus on efforts to mobilise private climate investment. Rwanda successfully leveraged the RSF and managed to secure an extra EUR 300 million with the help of bilateral and multilateral partners, on top of the RSF’s $319 million contribution. However, this amount is still only a small portion of the total financing needed to implement Rwanda’s climate agenda. In this context, Rwanda must continue its efforts to mobilise concessional and private climate resources. The IMF has said that Rwanda needs to accelerate the development of green projects and lending operations. What are these projects and why is it important to accelerate them? The RSF-supported reform measures helped address impediments to concessional and private climate flows to Rwanda. Private climate inflows to Rwanda, similar to other low-income countries, have been constrained by low risk-adjusted returns, persisting information asymmetries, and market size disadvantage. To overcome these obstacles and establish incentives for private capital, Rwanda needs strong legal frameworks, governance and data disclosure standards guiding its climate investments. As an example, Rwanda’s new climate budget tagging system and green taxonomy will strengthen investor confidence by mitigating their concerns about greenwashing. In the next step, these newly developed taxonomies will be used to identify private and public investment projects that can strengthen the economy’s resilience to climate shocks. Rwanda is also a pioneer in this area among developing economies. Ireme Invest has started its lending operations with a total value of its green projects pipeline estimated at about $30 million over the 2024-25 period. The scaling up of the pipeline is challenging, as both the Rwanda Development Bank and businesses need time to strengthen their understanding of the technical requirements for climate investments. To address this obstacle, Ireme Invest has established a Project Preparation Facility managed by the Rwanda Green Fund (FONERWA). Rwanda’s Public Green Investment Facility (Intego) has also identified public investment projects at the total value of $34 million. A well-developed project pipeline should play a critical role in mobilising additional resources to finance Rwanda’s ambitious climate agenda. The IMF has a 3-year Policy Coordination Instrument that ends next year. The aim was to support the government to build on the progress in macroeconomic, fiscal, and financial reforms. Have any of these reforms happened? Under the Policy Coordination Instrument (PCI), the Rwandan authorities put together a medium-term reform plan for the 2022-25 period to ensure macroeconomic stability, advance fiscal consolidation, strengthen monetary policy transmission and deepen financial markets, and build socioeconomic resilience. The PCI is a non-disbursing arrangement, which means that the IMF does not provide financial support related to the programme. We support the authorities in the design of their reform plan, provide technical assistance to build institutional capacity, monitor the implementation of the reforms and report on their progress. The benefit of such a non-disbursing arrangement for the authorities is what we call the IMF’s “seal of approval” of their policies. It provides assurances for development partners and financial markets that Rwanda’s macroeconomic policies are sound. Rwanda’s performance under the PCI has been broadly strong. Key achievements under the PCI include the introduction of more efficient and transparent frameworks to manage public investments, formulation of a medium-term spending rationalisation strategy, gradual deepening of the interbank and foreign exchange market to strengthen monetary policy transmission and the launching of the dynamic social registry, which is a state-of-the-art system that will allow for better targeting of social protection benefits. In December 2023, the authorities also requested a 14-month financing arrangement under the so-called Stand-by Credit Facility (SCF) to help them preserve foreign exchange reserves, which came under pressure following an increase in the import bill, due to high food imports and the reconstruction after the devastating floods last year. As a result of the recalibration of macroeconomic policies, the $260 million total financing under the SCF, and its catalytic effect that allowed Rwanda to secure additional concessional financing mainly from the World Bank, foreign exchange reserves have now stabilised at comfortable levels. The IMF has previously indicated that Rwanda faces fiscal risks from state-owned enterprises. What are these risks and how can they be mitigated? Besides raising more revenues, fiscal consolidation can be achieved via more efficient spending. Rwanda has limited resources, and it is critical that those limited resources are not wasted and put in the most productive use possible. Enhanced transparency is key to scrutinise the use of resources, and so it is an important achievement that the Ministry of Finance started to publish the list of major public projects and their selection criteria on its website. In a similar vein, state-owned enterprises (SOEs) need to be managed efficiently. This means several considerations. First, the authorities need to revisit which SOEs are critical for the functioning of the economy, and which are the SOEs that could possibly be replaced by the private sector. Second, the corporate governance of remaining SOEs needs to be improved. Finally, it is important that any financial support provided by the budget to SOEs, in the form of direct subsidies and guaranteed loans for example, are fully accounted for. At the end of the day, the authorities will need to ensure that budget resources are not subsidising loss-making activities in SOEs. What about the forex exchange market, has Rwanda made reform progress? With regard to the exchange rate, the central bank did a good job so far in managing pressures on its FX reserves. The exchange rate was allowed to depreciate since early 2023, which was necessary to facilitate the much-needed external adjustment. Similar to most developing countries, Rwanda’s imports exceed its exports, which implies that the demand for foreign currency is larger than its supply. The trade deficit puts the exchange rate under pressure, unless it is fully financed by capital inflows, such as remittances, foreign direct investment, or concessional borrowing. Continued exchange rate flexibility will be critical to help absorb external shocks and support the current account adjustment.", "author": { "@type": "Person", "name": "Julius Bizimungu" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }The past two years have marked the two highest increases in water rates and fees by the Erie County Water Authority, and next year will be no different. The water authority board last week unanimously approved an across the board 11% hike in its rates and fees, the second highest percentage increase in decades. Authority officials say the median residential water bill will rise by $40 a year, though they use a lower annual water use estimate than other local water utility companies. And if you're wondering when water users might get a break, the answer from water authority leaders is probably not for a long time. The Erie County Water Authority is sharply raising rates and fees again. And no one thinks that pattern is going to change anytime soon, particularly with new federal mandates for lead pipe removal. The Erie County Water Authority provides water to more than 550,000 users throughout most of Erie County but not the City of Buffalo. The 11% hike falls just short of the 12% increase in 2023, which was the highest recorded jump since at least 2000, when The Buffalo News began tracking rate changes. The officials say ratepayers will face a growing burden over the coming decade because of an ambitious effort to upgrade the county's aging water system and meet expensive, new unfunded mandates by the Environmental Protection Agency to replace lead and galvanized steel pipes. The authority's push to improve the county's largest water network means customers will be paying more than 50% more than what they paid for water five years ago, which significantly outpaces inflation. And authority executives expect the sharp increases to continue for a decade or more. "I have to be honest you," said authority Chairman Jerome Schad. "I don’t see how we aren’t going to be in that spot." The authority's operating costs have fallen by a little under 1%, said Chief Financial Officer Joyce Tomaka, but it's project construction costs are climbing by 17%. Here's more context to the most basic questions regarding the increased water costs. Q: Why are costs going up so much? For each of the past two years, water authority officials attributed higher costs to spikes in chemical prices, power and contracts with third-party contractors. This year, Tomaka said supply costs have leveled off or fallen, but the federal government's new Lead and Copper Rule has thrown a heavy burden on all water utilities, which must identify and replace all lead lines within the next 10 years. Galvanized steel pipes, which can also absorb lead, must be replaced within the next 13 years. The new EPA rules also require more testing of drinking water and require that communities take action sooner to protect people from water-based lead exposure. ECWA officials say they estimate that the rules will require the replacement of roughly 30,000 lines. For next year, the authority plans to spend $16 million as part of its "Get the Lead Out" program. The authority did receive a $20 million grant from Gov. Kathy Hochul in 2023, and another $960,000 from Sens. Chuck Schumer and Kirsten Gillibrand this year. Schad said without those grants, the increased costs to customers would be even higher. The typical customer will pay $484 a year for water, a 7% increase. In 2023, the Buffalo Water Board raised the bill paid by the typical residential customer by $41 a year, or 10%. The Lead and Copper Rule is not deterring the water authority from taking steps that leaders say they must to make critical improvements to the authority’s aging plants, lab technology, pumping stations, water lines and residential water meters. That will add another $66.8 million to construction costs. Schad said keeping water costs low used to be the overriding priority of the authority, but as a result, it has spent less on maintenance than other comparable water systems. Having cheap water is less important to the local economy than having access to a reliable and safe water system without interruption and outages, he said. Consultants for the authority agree that the current rate structure is fairest to residential consumers, who represent the bulk of all water authority customers, he said. Compared with other major upstate counties and cities, ECWA's water costs may be the highest next year, except for the City of Buffalo, which has a concentration of older water lines. Within the county, however, 20 other local governments – primarily rural villages and towns – have higher rates than ECWA, which delivers water to most suburban communities. Q: So how much will I be paying this year? Pull out your calculator. The Water Authority charges two costs to water users. One is a rate charged for every 1,000 gallons of water used. Next year, the water rate for residential customers will rise from $4.64 per thousand to $5.15 per thousand. So if you accept the water authority's average water usage figure of 56,000 gallons a year, you'd multiply 56 by $5.15, to get $288.40. If you have a family with children, expect to pay more. If you live alone, expect to pay less. But that's not all. Since 2011, the water authority has also been charging customers a flat quarterly "infrastructure fee." That fee has risen from $27.72 per quarter to $30.78. Multiply the new quarterly fee by four and you'll get $123.12 a year, for a total annual water bill of $411.52, an increase of $40.80 over what the average residential customer paid this year. Note that the ECWA calculates average water usage by taking it's three highest residential water usage months of April through June, and using that as a quarterly average that amounts to 56,000 gallons, according to Tomaka. That is low compared with the Buffalo Water Board, which estimates residential usage at 70,000 gallons per household. That's more in line with what the ECWA calculated as its average water usage three years ago. Of course, the higher the average water usage figure, the bigger the average water bill looks. Commercial customers, who pay a much heftier quarterly infrastructure fee but a lower water rate, will also see an 11% increase across the board. Get Government & Politics updates in your inbox! Stay up-to-date on the latest in local and national government and political topics with our newsletter. Reporter {{description}} Email notifications are only sent once a day, and only if there are new matching items.
Kendrick Lamar surprises with new album 'GNX' LOS ANGELES (AP) — Kendrick Lamar gave music listeners an early holiday present with a new album. The Grammy winner released his sixth studio album “GNX” on Friday. The 12-track project is the rapper’s first release since 2022’s “Mr. Morale & The Big Steppers.” Lamar’s new album comes just months after his rap battle with Drake. The rap megastar will headline February's Apple Music Super Bowl Halftime Show in New Orleans. The 37-year-old has experienced massive success since his debut album “good kid, m.A.A.d city” in 2012. Since then, he’s accumulated 17 Grammy wins and became the first non-classical, non-jazz musician to win a Pulitzer Prize. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Ancient meets modern as a new subway in Greece showcases archaeological treasures THESSALONIKI, Greece (AP) — Thessaloniki, Greece’s second-largest city, is opening a new subway system, blending ancient archaeological treasures with modern transit technology like driverless trains and platform screen doors. The project, which began in 2003, uncovered over 300,000 artifacts, including a Roman-era thoroughfare and Byzantine relics, many of which are now displayed in its 13 stations. Despite delays caused by preserving these findings, the inaugural line has been completed, with a second line set to open next year. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. At least 19 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 19 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 167,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat sent to restaurants nationwide. Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli, which can cause life-threatening infections. No illnesses have been reported outside of Minnesota. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration. Actor Jonathan Majors’ ex-girlfriend drops assault and defamation lawsuit against once-rising star NEW YORK (AP) — Jonathan Majors’ ex-girlfriend has dropped her assault and defamation lawsuit against the once-rising Hollywood star after reaching a settlement. Lawyers for Majors and Grace Jabbari agreed to dismiss the case with prejudice Thursday. Jabbari is a British dancer who had accused Majors of subjecting her to escalating incidents of physical and verbal abuse during their relationship. Representatives for Majors didn’t respond to emails seeking comment Friday. Jabbari’s lawyer said the suit was “favorably settled” and her client is moving on with “her head held high.” Majors was convicted of misdemeanor assault and harassment last December and sentenced to a yearlong counseling program. Hyundai, Kia recall over 208,000 electric vehicles to fix problem that can cause loss of power DETROIT (AP) — Hyundai and Kia are recalling over 208,000 electric vehicles to fix a pesky problem that can cause loss of drive power, increasing the risk of a crash. The recalls cover more than 145,000 Hyundai and Genesis vehicles including the 2022 through 2024 Ioniq 5, the 2023 through 2025 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. Also included are nearly 63,000 Kia EV 6 vehicles from 2022 through 2024. The affiliated Korean automakers say in government documents that a transistor in a charging control unit can be damaged and stop charging the 12-volt battery. Dealers will inspect and replace the control unit and a fuse if needed. They also will update software. Christmas TV movies are in their Taylor Swift era, with two Swift-inspired films airing this year Two of the new holiday movies coming to TV this season have a Taylor Swift connection that her fans would have no problem decoding. “Christmas in the Spotlight” debuts Saturday on Lifetime. It stars Jessica Lord as the world’s biggest pop star and Laith Wallschleger, playing a pro football player, who meet and fall in love, not unlike Swift and her boyfriend, Kansas City Chiefs tight end Travis Kelce. On Nov. 30, Hallmark will air “Holiday Touchdown: A Chiefs Love Story.” Instead of a nod to Swift, it’s an ode to family traditions and bonding, like rooting for a sports team. Hallmark’s headquarters is also in Kansas City. Top football recruit Bryce Underwood changes commitment to Michigan instead of LSU, AP source says ANN ARBOR, Mich. (AP) — Top football recruit Bryce Underwood has flipped to Michigan after pledging to play at LSU. That's according to a person familiar with the situation who spoke to The Associated Press on condition of anonymity because they were not authorized to share the recruit’s plans to join the Wolverines. Underwood pinned a post on his Instagram account, showing a post in which On3.com reported that he has committed to Michigan. The 6-foot-3 quarterback played at Belleville High School about 15 miles east of Michigan's campus, and told LSU nearly a year ago he intended to enroll there. Emperor penguin released at sea 20 days after waddling onto Australian beach MELBOURNE, Australia (AP) — The only emperor penguin known to have swum from Antarctica to Australia has been released at sea 20 days after he waddled ashore on a popular tourist beach. The adult male was found on Nov. 1 on sand dunes in temperate southwest Australia about 2,200 miles north of the Antarctic coast. He was released Wednesday from a boat that traveled several hours from Western Australia state's most southerly city of Albany. His caregiver Carol Biddulph wasn't sure at first if the penguin would live. She said a mirror was important to his rehabilitation because they provide a sense of company. Biddulph said: “They’re social birds and he stands next to the mirror most of the time.”
In a move to enhance mobility and improve access to education, healthcare, and farming opportunities, the Osagyefo Ampem Foundation has entered into a five-year partnership with Trans Sahara Industries to supply electric bicycles to the citizens of the Wenchi Traditional Area in Ghana’s Bono region. This initiative aims to ease the daily struggles of students, nurses, and farmers, many of whom currently endure long walks to their respective destinations. The partnership was officially announced by Osagyefo Ampem Anyye Amoampong Tabrako III, the Omanhene of Wenchi, during the annual Yam Festival in Wenchi, underscoring the community’s ongoing efforts to improve the lives of its members. The initiative, dubbed “Our Wheels of Change,” is part of the Foundation’s broader mission to improve transportation options and access to vital services in the region. Trans Sahara Industries, a leading Ghanaian company specializing in electric micromobility solutions, has committed to donating 100 electric bicycles annually for the next five years to support this initiative. These bicycles will benefit individuals who face challenges accessing education and healthcare due to the geographic constraints of the Wenchi Municipality. The first batch of bicycles was handed over during the Yam Festival, marking the start of the collaboration. Founded by the Omanhene, the Osagyefo Ampem Foundation aims to improve the social and economic welfare of the people in the Wenchi Traditional Area and beyond. This partnership will serve as a significant step in reducing the travel burden on community members, particularly children who need to walk long distances to reach schools, as well as healthcare workers and farmers who face similar challenges. In his address during the festival, Osagyefo Ampem Anyye Amoampong Tabrako III also extended his congratulations to Alhaji Seidu Haruna, the newly elected Member of Parliament for Wenchi, following his victory in the December 2024 elections. The Omanhene pledged his full support for the new MP, urging the people of Wenchi to unite and set aside political differences to foster development in the region. This initiative not only aims to improve transportation but also represents a commitment to empowering the community of Wenchi, providing them with the tools needed to thrive in education, healthcare, and agriculture.BETHESDA, Md. , Dec. 3, 2024 /PRNewswire/ -- The Board of Directors at Lockheed Martin (NYSE: LMT) named Kevin O'Connor as the corporation's new senior vice president, general counsel and corporate secretary. Effective Jan. 13 , O'Connor will succeed Maryanne Lavan , who plans to retire. O'Connor most recently served as senior vice president and chief legal officer for Carrier. "Kevin is a proven leader who brings insight, expertise, and a shared commitment to our 21st Century Security ® vision. I look forward to working with him as we continue to prioritize strong governance and delivering more cutting-edge capabilities faster and more affordably to the United States and our allies," said Chairman, President and CEO Jim Taiclet . "Over her exceptional 34-year career at Lockheed Martin, Maryanne has made a mark on our company through her leadership, guidance and integrity. I appreciate her many years of service and wish her all the best in her next chapter." Lavan will serve as a strategic advisor through the first quarter of 2025 to help ensure a smooth transition. About Kevin O'Connor As senior vice president and chief legal officer for Carrier, O'Connor oversaw the company's legal and compliance matters worldwide. He also was responsible for government and regulatory affairs, where he developed and executed advocacy strategies to support global business growth. Prior to joining Carrier, he served as chief legal officer for Point72. Before that, O'Connor served as the vice president of Global Ethics & Compliance, UTC, and was a partner at the law firm Bracewell LLP. O'Connor is a proven leader with more than 25 years of experience, bringing to the role a strong combination of experience in government and the private sector, including at the U.S. Securities and Exchange Commission, as U.S. attorney for Connecticut and as associate attorney general of the United States , the third-ranking official at the Department of Justice. "It is an honor to join Lockheed Martin at such an exciting time in its history, when national security solutions are of paramount importance," said O'Connor. "The opportunity to work with such an incredibly talented team while continuing to ensure the highest standards in governance and compliance is truly exciting. I look forward to working with the leadership team to help advance Lockheed Martin's critical mission in this dynamic environment." About Lockheed Martin Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security ® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/lockheed-martin-names-new-general-counsel-302321622.html SOURCE Lockheed Martin
Capricorn – (22nd December to 19th January) Daily Horoscope Prediction says, take a long leap to happiness Look for options to be happy in the love affair. Your commitment at work will bring positive results. Handle your wealth smartly and health is also positive. Have a productive love affair today and you both may be involved in exciting activities. New responsibilities in the job make you stronger. Prosperity will come with good health. Capricorn Love Horoscope Today Be specific about your needs to the partner. Your lover prefers spending more time with you. Even while you are traveling; ensure you connect over the phone to share your emotions. It is good to stay away from arguments. Single females can expect a proposal today. Some Capricorns will resolve the issues with the ex-lover to go back to the old love affair. Married females will be happy to have a great day in terms of romance. Capricorn Career Horoscope Today Express your ideas freely at meetings as they will be approved. Be concerned about the team as your behavior will work out during appraisals. Some professionals will see opportunities abroad. Avoid office politics and you should be smart enough to negotiate with the team members while handling team tasks. Businessmen will sign new partnership deals which would bring in good profits today. Some students waiting for admission to a foreign university will see positive results. Capricorn Money Horoscope Today There will also be success in getting a bank loan today. Today is also good to buy jewelry or electronic appliances for the home. You can also try the fortune in stock and speculative business today. Go ahead with the plan to buy a property, or vehicle, or to renovate the home. Businesses will succeed in raising funds through promoters while some females will pick the day to even donate money to charity. Capricorn Health Horoscope Today No serious medical issue will trouble you. However, it is good to have control over the lifestyle. The second part of the day is good to join a gym or a yoga session. Meditate in the early morning to overcome stress and start the day with positive energy. Some Capricorn females will develop migraine, gynecological issues, or viral fever today. Capricorn Sign Attributes Strength: Intelligent, Practical, Trustworthy, Generous, Optimistic Weakness: Persistent, Stubborn, Suspicious Symbol: Goat Element: Earth Body Part: Bones & Skin Sign Ruler: Saturn Lucky Day: Saturday Lucky Color : Grey Lucky Number : 4 Lucky Stone: Amethyst Capricorn Sign Compatibility Chart Natural affinity: Taurus, Virgo, Scorpio, Pisces Good compatibility: Cancer, Capricorn Fair compatibility: Gemini, Leo, Sagittarius, Aquarius Less compatibility: Aries, Libra By: Dr. J. N. Pandey Vedic Astrology & Vastu Expert Website: www.astrologerjnpandey.com E-mail: djnpandey@gmail.com Phone: 91-9811107060 (WhatsApp Only)
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