CBI files FIR in CWG consultants’ case

first_imgFormer Commonwealth Games Organising Committee chairman Suresh Kalmadi.There is more trouble for the Commonwealth Games Organising Committee. The Central Bureau of Investigation has registered an FIR in the Games consultants’ case. Headlines Today had reported how Suresh Kalmadi-led OC had appointed 35 consultants including Congress leader Shashi Tharoor, who had been paid hefty amounts for consultancy and other services but they hardly did any work. The CBI is now investigating how much money was spent by the CWC OC on these consultants, who were also given high profile designations in addition to huge sums of money. Raids in overlay contracts’ case Meanwhile, the CBI continued its crackdown on the overlay contracts given out for CWG projects. On Thursday morning, it carried out raids at twenty places, including fifteen in Delhi, two in Mumbai and one in Kolkata. This comes after the registration of three new cases in connection with the renovation of Shivaji and Talkatora stadia for the October 2010 Games. Among those the CBI raided were NDMC chief architect S.S. Gupta and offices of Raja Aederi, consultants who had the contracts for renovation of CWG stadia.last_img read more

JFLL Being Repositioned as Central Adult Education Institution

first_img The Ministry of Education, is strategically repositioning the Jamaican Foundation for Life-Long Learning as the central agency for adult education in the country.Portfolio Minister, Hon. Rev. Ronald Thwaites gave this indication during a reception at the Terra Nova Hotel in Kingston on Wednesday, September 11, to formally introduce the new Executive Director of the foundation, Merris Murray.“Its role is going to be far more comprehensive than has been conceived in the past and it needs to occupy a place of prominence in the minds of all of our people who must turn to the foundation for expanding their education at any time of their lives,” he stated.Rev. Thwaites said that of particular focus is that some 140,000 youth are unemployed partially because they are not sufficiently educated; and are not certified to occupy jobs that are available or will become available.He noted that equipping people with levels of literacy and numeracy to enable them to seize opportunities for further education or to become productive citizens is paramount to the national development agenda.“Advancing education at whatever level and stage of life, is in fact the most important investment that one can make in one’s individual future and national success,” Mr. Thwaites said.He noted that the JFLL’s flagship programme – the High School Diploma Equivalent, will give many people who did not complete their secondary education the opportunity to do so.“This is a platform from which beneficiaries can re-launch their career goals. Jamaica has to offer its citizens second chances, in order for all of us to succeed,” he said.Rev. Thwaites said the JFLL will need to collaborate with various agencies, in and outside of the education sector to effectively carry out its mandate. “It is anticipated that the delivery of the High School Diploma Equivalent Programme will be done in collaboration with agencies such as the HEART Trust NTA and the Jamaica Library Service whose island wide network computer facilities are most appropriate,” he said.Congratulating the new Executive Director on her appointment, Rev. Thwaites said “her wide experience in the education sector as well as her involvement in small business facilitation makes her most suitable for this appointment.”The JFLL began as JAMAL Foundation in 1973.It operates 29 Adult Education Centres (AEC) with 100 volunteer AECs across Jamaica, and partners with other agencies and programmes to change lives by offering educational opportunities for all persons of all ages. Story Highlights Of particular focus are the 140,000 unemployed youth Its role is going to be far more comprehensive than has been conceived in the past Equipping people with levels of literacy and numeracy to enable them to seize opportunities for further educationlast_img read more

Seaspan Closes USD 1 Bn Portfolio Financing Program

first_imgzoomImage courtesy: Unsplash/Cameron Venti Hong Kong-based containership owner and operator Seaspan Corporation has closed its new USD 1 billion portfolio financing program. The program consists of pari passu ranking senior secured loan facilities, guaranteed by Seaspan, including a USD 200 million revolving credit facility (RCF) and an USD 800 million term loan facility.Seaspan said that the program can be increased to USD 2 billion through additional commitments under the RCF and TLA, execution of additional secured loan agreements and/or issuing private placement notes, in each case with a corresponding expansion of the collateral pool.This move provides Seaspan with the flexibility to add, substitute and remove vessels during the term. The program will initially consist of a portfolio of 36 vessels.Net proceeds from the program would be used to repay 12 secured credit facilities, for general corporate purposes, and may be used in part to finance the acquisition of vessels, Seaspan concluded.last_img read more