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Should I buy BP shares to profit from the rising oil price?

Should I buy BP shares to profit from the rising oil price?

first_img Enter Your Email Address Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! The price of barrel of Brent crude oil rose to $68 on Friday, a level not seen since before the coronavirus pandemic. Shares in oil and gas giant BP (LSE: BP) are responding and BP’s share price has risen by 25% over the last month.Despite this gain, BP is still down by more than 20% compared to a year ago. I think this popular dividend stock could still be cheap, so I’ve been considering whether to buy the shares for my portfolio.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…OPEC caution could help BPThe oil price got a big boost last week when Opec leaders Saudi Arabia and Russia agreed not to increase production to reverse last year’s cuts.Travel bans last year caused oil demand to collapse, but a recovery appears to be underway. By showing caution now, I suspect Opec is trying to ensure oil stays above $60 per barrel. That’s a level which generates comfortable profits for most big producers.Higher oil prices should certainly be good news for BP. The London-based group has promised to cut its oil and gas output by 40% by 2030. Instead of investing in production growth, BP will be diverting cash from oil sales into renewable projects and debt reduction.My analysis suggests extra cash from selling oil at higher prices could speed up the group’s transition.BP share price: why I’m temptedI don’t expect the oil market to return to the kind of frenzied boom we saw in the noughties, when oil hit a record high of $148. But I do think this unloved market has plenty of gas left in the tank.One thing I’ve learned over the years is that the oil price always overshoots. Last year we saw prices fall too low — the oil price briefly went negative. As the world recovers from the coronavirus pandemic, I expect to see a period of strong performance.City analysts appear to share this view. Consensus forecasts suggest BP’s profits will bounce back to $6.3bn in 2021, before rising 47% to $8.6bn in 2022. Based on BP’s share price at the time of writing, these projections price BP at 14 times 2021 earnings, falling to a P/E of 9.5 in 2022.What could go wrong?However, there are a couple of problems that might stop me buying BP shares. One is that the company’s plan is to pay a fixed dividend for the foreseeable future. Any extra cash is expected to be used for share buybacks rather than dividend growth.In general, I prefer to invest in dividend stocks where the payout is linked to earnings. Otherwise, the impact of inflation means the real value of the payout falls over time.I’m also worried about the future profitability of the business. As I mentioned earlier, big production cuts are planned over the next year. I don’t yet know how successfully BP will be able to replace this lost income with profits from renewables.I can see a real risk that BP’s share price will stay lower for longer in this uncertain environment. Despite the tempting 4.8% dividend yield, I think there are better options elsewhere. I won’t be buying BP shares at the moment. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Our 6 ‘Best Buys Now’ Shares Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Roland Head | Sunday, 7th March, 2021 | More on: BP Roland Head has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.center_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images. “This Stock Could Be Like Buying Amazon in 1997” Simply click below to discover how you can take advantage of this. Should I buy BP shares to profit from the rising oil price? See all posts by Roland Headlast_img read more

Black woman freedom fighter, Ramona Africa, discusses MOVE and surviving the 1985 bombing

Black woman freedom fighter, Ramona Africa, discusses MOVE and surviving the 1985 bombing

first_imgFormer U.S. political prisoner Ramona Africa is the Minister of Communication for the MOVE Organization and a Philadelphia-based organizer with the International Concerned Family and Friends of Mumia Abu-Jamal. She is also the only living survivor of the1985 MOVE bombing, when the FBI and Philadelphia police dropped two C-4 bombs on her organization’s home, killing 11 people. Read along as we discuss the history of MOVE and what it means to be a freedom fighter.Part 1: Former U.S. political prisoner, Ramona Africa, discusses Mumia Abu-Jamal’s incarceration, U.S. prisons and Donald TrumpLamont Lilly:  Ramona, thank you for sitting down and sharing your time with me. For those who may be unfamiliar, what is the MOVE Organization? Who founded MOVE, and what is the organization about?Ramona Africa: The MOVE Organization is a revolutionary organization founded by a Black man named John Africa. John Africa brought people together from all different backgrounds, nationalities, religions, etc., and gave us one common revolutionary belief. (tinyurl.com/mslchoj)  That belief is in the sanctity and importance of all life, on all levels — without exception.  And it is that uncompromising belief and uncompromising commitment to life that has put us in direct conflict with the system that we’re living under, a system that doesn’t care anything about life — whether it’s the air, the water, the soil that feeds us. They don’t care.  But as members of MOVE, we are committed to life.We were animal rights activists long before that term was ever invented.  We were environmentalists before that term was ever invented. Everything that John Africa taught us has come full circle.John Africa had even coordinated a raw food diet for us. He put us in touch with what our natural diet is. People said we were crazy, that we were going to get sick and make our children sick. “You can’t eat raw food like that.  You have to cook it,” they would say. Now, what do we see some 45 years later? You see raw food restaurants, from the West Coast to the East Coast. You see nutritionists now teaching the benefits of raw food.  (tinyurl.com/maun9pn)John Africa even encouraged MOVE women to have babies naturally, at home. He would tell us: “When you’re pregnant, you’re not sick. You don’t need a hospital to do something as natural as giving birth.”  No other species of life goes to a hospital to have a baby.LL:  You’re so right, Ramona. I’ve never thought about it like that.RA:  Another thing, in terms of composting, there’s a new movement going on around this now. Well, MOVE was composting 45 years ago. But when we composted, people went crazy. But today, they put a cute little word on it called “composting,” and all of a sudden, it’s the “green” thing to do. We were also homeschooling 45 years ago. (tinyurl.com/lxph8gu)LL:  When did you become a member of MOVE? What period of life was this for you? How did joining MOVE change your life?RA:  [Laughing] Oh wow, Lamont! That’s a story within itself. I went to Catholic school during my high school years. I had begged my mother to transfer me to a public school, but she wouldn’t do it because she wanted me to have what she perceived as a “good education.” She was also telling me to be a doctor, be a lawyer, be anything you want to be. So I went with that and decided to focus on the legal system. When I graduated from West Catholic High, I ended up going to Temple University and took up a pre-law curriculum. (tinyurl.com/jakg7bg)It was in my last semester at Temple that I started a work-study program because I needed the money to pay for school. I got hired at Community Legal Services, a free legal aid agency. They assigned me to the housing unit. You can’t work in the Philadelphia housing unit without being an advocate for the poor. That’s when I first started getting active in the community. That period marked my first arrest at the Philadelphia City Council. I eventually had to go to court for that arrest and met a brother named Mel there. We exchanged numbers, and he would call me and tell me things that were going on. He called me one day and asked if I wanted to go to a meeting to plan a MOVE demonstration.I lived in West Philadelphia all my life. I had heard about MOVE, but I didn’t really know about MOVE. So I went to the meeting with him. We were supposed to go out that night after the meeting, but I got so wrapped up in the meeting, I wouldn’t go anywhere [laughing]. I was really impressed.The second time I was arrested, the sentencing judge gave me 60 days in the county jail, the “house of corrections.” But you know what? I tell everybody I owe that judge a nod of thanks — a million thank yous because she sent me to the county jail for two months — up close and personal with MOVE women. That was the best thing she could have ever done for me.  When I walked out, there was no turning back. I wanted to be like MOVE women and became a member.LL:  Do you remember the exact year you joined?RA:  Yes. It was 1979.LL:  It sounds like you found a higher level of thinking and self-fulfillment. It sounds like MOVE really provided a new sense of wholeness and purpose for you.RA: Yes, for me, but my mother had some issues. She was a beautician by trade, and obviously the first thing that struck her was my hair. She had a problem with my hair because from the time I was knee-high, she would quote “do my hair” by washing it, pressing it, straightening it and curling it.  So, when I let my hair grow and lock on its own, oh my goodness.  [laughing] She wasn’t too happy about that.This was after the Black Power Movement and long before the current period of being Black and unapologetic. (tinyurl.com/l3nuqbt)  A lot of sisters are rocking “naturals” now, but that wasn’t the case in 1979 and 1980. She also took issue with me not going to law school. I didn’t even go to my graduation at Temple University when I finished undergrad.LL: You mentioned “the system” earlier and what it had done. Can you take us back to May 13, 1985?  What happened that day?RA: The first thing that people should be aware of is that the bombing took place on Monday, May 13, but the cops came out en masse, surrounding our home, on Mother’s Day, Sunday, May 12. They laid siege on our home, supposedly because neighbors were complaining about us. What MOVE was saying was that we weren’t denying that some neighbors had complaints about us, but name one community in this entire country where some neighbor doesn’t complain about the other.Not only that. When has this government ever cared about Black folks complaining about their neighbors? When did that start? Anyone who believes that is foolish. All you have to do is talk to the Osage residents who still remain there on Osage Avenue. Ask them who they’re complaining about now. They’ve been complaining about the government for the last 31 years because the U.S. government did them wrong. And they’re still pissed about it. Obviously, the U.S. government does not care about Black folks complaining about their neighbors or anything else for that matter. So that “complaining” excuse was just a lie.They came out there in May of 1985 to kill us, to kill MOVE — to silence our righteous protests, our unrelenting fight concerning the unjust imprisonment of our family members, the MOVE 9. [They were arrested under the false charge of killing a cop on Aug. 8, 1978.] That’s why the cops came out. (tinyurl.com/lotfuf9)They started just like they did in August of 1978, with the fire department [who take an oath to run into burning buildings and save lives]. But in May of 1985, they worked with the cops to kill off life, to kill off the MOVE organization. Firefighters turned on water hoses against us, with each hose pumping out 10,000 pounds of water pressure per minute. They had four of those hoses; that’s 40,000 pounds of water pressure per minute. This water was being pumped out for hours, but there was no fire.When that didn’t drive us out, they breached 3-inch holes in the connecting walls of our house. They wanted to blow holes into the walls to insert tear gas. At least that’s what they said. When they finished exploding what they claimed were 3-inch holes in the wall — the whole front of our house was blown away. So, when they started inserting tear gas, a lot of it was just coming right back out. That’s when they opened fire on us, and according to them, shot 10,000 rounds of bullets in on us in the first 90 minutes. They had to send to their arsenal for more ammunition.We were all in the basement. We heard this loud noise that shook the whole house. There was still a lot of tear gas in the house that had not found its way out yet, and it started getting a little warmer in there.As the smoke and gas got thicker, we were like, “Wait a minute, this is something else.” We were listening and could hear the tree in the back of our house crackling as if it were on fire. That’s when we realized that our house was actually on fire. We immediately tried to get our children, our animals and ourselves out of that blazing inferno. But at the point that we were trying to come out and could be seen trying to come out, the cops opened fire on us, forcing us back in.We tried several times to get out, but each time we were shot back into the house. This was a clear indication that they didn’t intend for any of us to survive that attack. But finally, like the third time, we knew that we would either choke to death and be burned alive, or we were going to be shot to death. So, we made one more attempt at it, to get out. I was closest and got outside the door. I got Birdie out.  Everybody was lined up to come out after us.It was not until they took me into custody and to the local hospital that I was looking for the rest of my family, but nobody came in. I’m in the hospital and wondering what was going on. I didn’t find out until I left the hospital and was taken to the police administration building [to the homicide unit]. Only then did I find out that there were no other survivors other than me and my young brother, Birdie Africa. (tinyurl.com/kfypm5n) The police were contemplating charging me with the murder of my family.LL: Are you serious?  That’s ridiculous!RA: Absolutely ridiculous! They charged me with everything they did: possession of explosives, arson, causing a catastrophe, attempted murder, simple and aggravated assault. But the charges and warrant they came at me with were all dismissed when I was able to challenge them in the pretrial. They eventually dropped those charges. Oh, and I forgot. They also threw in “terroristic threats,” which was ridiculous.LL:  So let me get this clear, Ramona. You survived two bombings, the bullets, the fire hoses, the tear gas. You’re out of the hospital, and the next thing you know you’re in the police department being charged with attempted murder and arson?RA: Yep. Yes, I was. And that was another eye-opener for me because when all the charges and the warrants that they came at me with were dismissed, it seems like anything that came from these bogus warrants would have to be dropped as well. If their reasons for being out there were invalid, then how could anything that was a result of their presence be valid? But they were never going to drop all the charges on me.LL: Did you serve time for any of those charges?RA: Yes. I did. First of all, I had a $4.5 million bail. $4.5 million! I was in jail from May 13 of 1985 until May 13 of 1992 because I was convicted of “rioting,” if you can believe that. I was sentenced to 16 months and seven years. When my 16-month minimum was up, I was told by the parole board that they would parole me, but only if I agreed to sever all ties with MOVE.  Sever all ties! And I wasn’t about to do that. Instead of being released at 16 months, I did the whole seven years.  (tinyurl.com/kty4waf)   .LL: Eleven people died May 13, 1985.  Excuse me — were murdered! You mentioned children earlier. How many children died in that bombing?RA:  Five children and six adults! And not one single official on any level was ever held accountable, ever charged with a single crime against MOVE. But yet, you have the MOVE 9 being called murderers and being imprisoned for 38 years, working on 39 now. Meanwhile, the people that murdered 11 of my family members — publicly on May 13 of 1985 — not one of them was ever held accountable.LL: The last question, Ramona, is in reference to the current movement that we’re actually living with right now — the Movement for Black Lives.  (tinyurl.com/lrb9p5d) As a new generation accepts the baton of mass resistance, freedom fighting and Black struggle, what words of advice would you share?RA: The first and most important thing is to never stop. Don’t ever stop pushing and fighting. Don’t ever give in! Be consistent. Don’t allow yourselves to be disillusioned. Don’t allow anyone or anything to buy you off. Don’t allow yourselves to be compromised or co-opted — because trust me — they will try.  ou can definitely believe that!This system will come at you with all kinds of things. All kinds!  But if you fall for it, you’re done. You’re done, and that’s what they bank on. They bank on people flaring up for an instant and then fizzling out.One last thing I really want the young people to remember. We do this work out of love, not hate. Love for life and the people. Long live John Africa!  Long live the revolution!  Ona move!Lamont Lilly was the 2016 Workers World Party, U.S. vice presidential candidate. In 2015, he was a U.S. delegate at the International Forum for Justice in Palestine in Beirut, Lebanon. He is also an activist and organizer in the Black Lives Matter movement.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Human rights blogger arrested in Saudi Arabia

Human rights blogger arrested in Saudi Arabia

first_imgNews RSF_en Receive email alerts June 8, 2021 Find out more June 13, 2018 Human rights blogger arrested in Saudi Arabia Saudi ArabiaMiddle East – North Africa Online freedoms ImprisonedFreedom of expressionCitizen-journalistsInternet Saudi media silent on RSF complaint against MBS According to the Saudi NGO Al Qst, Nouf Abdulaziz Al Jerawi was arrested on 6 June, since when there has been no news of her fate. Al Jerawi, who is also a journalist, recently stopped posting on Twitter, even privately, because she had been concerned about the possibility of arrest ever since an earlier wave of arrests of women rights activists, including the blogger Eman al Nafjan in mid-May. “The Saudi authorities accuse the bloggers and journalists they jail of giving the kingdom a bad image but it is these waves of arrests that harm Saudi Arabia’s image,” RSF said. “The kingdom’s authorities are themselves wrecking the progressive image they are trying to project.” A supporter of constitutional reform in Saudi Arabia and the region’s Arab Springs, Al Jerawi has worked for several Saudi media outlets and has written about human rights violations in her blog, which currently cannot be accessed. When she reappeared on social networks in 2016 after several years of absence, she and her family received warnings that the interior ministry was watching her. She was also targeted by troll armies with the aim of intimidating her and getting her to close her Twitter account. “The situation in Saudi Arabia is so bad today that it is not enough to remain silent – you have to be pro-government,” Al Qst founder Yahya al Asiri said. According to Al Qst, women’s rights activist Mayaa al-Zahrani was also arrested on 9 June for criticizing Al Jerawi’s arrest in post. At least 11 journalists and citizen-journalists are officially imprisoned in Saudi Arabia, while more than 15 other professional and non-professional journalists are being held without any official confirmation. Saudi Arabia is ranked 169th out of 180 countries in RSF’s 2018 World Press Freedom Index. Help by sharing this information RSF joins Middle East and North Africa coalition to combat digital surveillance Reporters Without Borders (RSF) reiterates its call for the immediate release of all journalists and citizen-journalists detained in Saudi Arabia after the female blogger and human rights activist Nouf Abdulaziz Al Jerawi became the latest victim of a wave of arrests of bloggers and rights activists. News to go further April 28, 2021 Find out more Follow the news on Saudi Arabia Saudi ArabiaMiddle East – North Africa Online freedoms ImprisonedFreedom of expressionCitizen-journalistsInternet March 9, 2021 Find out more News NSO Group hasn’t kept its promises on human rights, RSF and other NGOs say Organisation Newslast_img read more

US – #WeeklyAddress: March 5 -11: Trump rally, local TV stations bring “Fake News” under fire

US – #WeeklyAddress: March 5 -11: Trump rally, local TV stations bring “Fake News” under fire

first_img RSF_en Trump verbally attacks news outlets and journalists during a Pennsylvania rally President Trump spoke at a congressional campaign event for Republican Rick Saccone in a conservative western Pennsylvania district on March 10, hurling multiple insults at the media. Trump called NBC news anchor Chuck Todd a “sleeping son of a bitch,” an insult he has used to demean the news anchor dating back to 2011. During the speech, the president also delivered a profane attack on CNN, calling the network “fake as hell.” The crowd joined in with enthusiastic boos at Trump’s mention of journalists and then proceeded to chant “CNN sucks!” CNN wasn’t the only network that the president targeted in his speech — he also insulted affiliations of the NBCUniversal News Group: “NBC is perhaps worse than CNN, I have to tell you. And MSNBC is horrible.” From presidential candidate to elected President, Trump has consistently spoken negatively about the media, at one point even calling the press the “lowest form of humanity.” Prior to Saturday’s rally, Trump took to Twitter on March 6 to express his dissatisfaction with the media’s coverage of recent turnovers among White House staff, including the resignations of Communications Director Hope Hicks and Chief Economic Advisor Gary Cohn within the last two weeks, labeling reports “Fake News.” Nineteen members of Trump’s staff have either resigned or been fired from the administration since he took office.Leaked script shows controversial anti “fake news” promo to be aired on Sinclair-owned TV stationsSinclair Broadcast Group, the largest broadcasting company in the country, has recently instructed its stations to denounce “fake news” stories from mainstream media outlets in a promotional campaign. Sinclair has a history of pushing right-wing politics on its affiliates. The company has been criticized in recent months for increasing pro-Trump “must-run” segments on its local stations to nine times per week. A proposed $3.9 billion deal to buy out Tribune Media that would provide Sinclair with an additional 42 television stations, leaving the company with more than 200 news television stations nationwide, has led to concerns about the future of independent journalism in the United States.The script obtained by CNN states: “Some members of the national media are using their platforms to push their own personal bias and agenda to control ‘exactly what people think’ … This is extremely dangerous to our democracy.” Other leaked documents describe the campaign as an “anchor delivered journalistic responsibility message” that they encourage stations to run frequently — during news time, not commercial time — beginning later this month. However, staffers at Sinclair have said the promos make them feel “uncomfortable.”Media denied access during Education Secretary’s visit to Parkland, FloridaMembers of the press were barred access to Education Secretary Betsy DeVos’ March 7 visit to Marjory Stoneman High School in Parkland, Florida, where 17 people were killed in a mass shooting last month. The Department of Education sent out a press release prior to her visit that stated the school visit was “closed to press out of respect for the students and faculty,” and though DeVos held a news conference following her visit, it abruptly ended after just five questions from the press. This led to criticism from some reporters, including Los Angeles Times editor and reporter Joy Resmovits.Denial of press access has been a common occurrence in the Trump administration. The most recent incident was when White House Press Secretary Sarah Huckabee Sanders threatened to ban CNN’s senior White House correspondent Jim Acosta from future press pool sprays if he attempted to ask President Trump a question during his signing of the National Defense Authorization bill on December 12, 2017. The United States ranks 43rd out of 180 countries in RSF’s 2017 World Press Freedom Index after falling 2 places in the last year. For the latest updates, follow RSF on twitter @RSF_en. to go further NSO Group hasn’t kept its promises on human rights, RSF and other NGOs say Organisation Below are the most notable incidents regarding threats to press freedom in the US during the week of March 5 – 11: June 7, 2021 Find out more Follow the news on United States News WhatsApp blocks accounts of at least seven Gaza Strip journalists News Facebook’s Oversight Board is just a stopgap, regulation urgently needed, RSF says United StatesAmericas News March 12, 2018 US – #WeeklyAddress: March 5 -11: Trump rally, local TV stations bring “Fake News” under fire Receive email alerts United StatesAmericas June 3, 2021 Find out more Help by sharing this information April 28, 2021 Find out more Newslast_img read more

Calls made to abolish air tax

Calls made to abolish air tax

first_imgWhatsApp Previous articleLPYMA grounds saga continuesNext articleFour Limerick players get International call up admin Advertisement Print NewsLocal NewsCalls made to abolish air taxBy admin – February 17, 2009 573 Former mayor and independent Clare councillor Patricia McCarthy has called on the Government to abolish its new air travel tax in a bid to protect hundreds of jobs in Shannon and Dublin airports.Councillor McCarthy made the call in response to Ryanair’s pledge to reverse its decision to axe services at the airports should the Government decide to abolish the 10 euro tax.Sign up for the weekly Limerick Post newsletter Sign Up Ryanair’s recently announced its decision to reduce services at the airports with the expected loss of at least 300 jobs.  The low cost carrier has publicly blamed the negative impact of the departure tax on travel bookings as the primary reason for its move. According to councillor McCarthy, “Whether this is a manufactured excuse for withdrawing services or not, the airline has clearly said it will reverse its decision to axe services and jobs if the tax is abolished. I believe that the benefits for the economy in having these services retained at Shannon and Dublin far outweigh the benefits associated with keeping this tax in place.”The Shannon-based public representative said the Government must now immediately clarify whether it intends to remove or at least reduce the tax.“It is incumbent on Government to explain to the Irish public to what extent the air travel tax is more beneficial to the economy than the significant jobs and revenue generated by the Ryanair services in question. If the Government cannot justify this tax then it should be held accountable for the loss of these jobs,” added councillor McCarthy.center_img Linkedin Email Facebook Twitterlast_img read more

Plea In Andhra Pradesh HC Against Disbursal Of State Sanctioned Amount For Advocates’ Welfare In The Form Of Interest Based Loans [Read Affidavit]

Plea In Andhra Pradesh HC Against Disbursal Of State Sanctioned Amount For Advocates’ Welfare In The Form Of Interest Based Loans [Read Affidavit]

first_imgNews UpdatesPlea In Andhra Pradesh HC Against Disbursal Of State Sanctioned Amount For Advocates’ Welfare In The Form Of Interest Based Loans [Read Affidavit] LIVELAW NEWS NETWORK11 Aug 2020 5:41 AMShare This – xA Circular issued by the Bar Council of Andhra Pradesh providing loans to Advocates in need amid the pandemic and consequent lockdown, has been challenged before the High Court as illegal and arbitrary. Advocate Syed Ziauddin, practicing at the Andhra Pradesh High Court, has contended that the Council’s decision to release the State sanctioned amount of Rs.25,00,00,000/- in the form…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginA Circular issued by the Bar Council of Andhra Pradesh providing loans to Advocates in need amid the pandemic and consequent lockdown, has been challenged before the High Court as illegal and arbitrary. Advocate Syed Ziauddin, practicing at the Andhra Pradesh High Court, has contended that the Council’s decision to release the State sanctioned amount of Rs.25,00,00,000/- in the form of “loans” to the Advocates is irrational and violative of principles of natural justice. On July 8, 2020, the Andhra Pradesh Government issued an order with respect to release of Rs.25,00,00,000/- towards Trust for Welfare of Lawyers. As per the order, the said amount was to be utilized for the welfare of the needy Advocates, as selected by the Committee under the Chairmanship of Advocate General, along with 4 Bar Council members selected by him in consultation with the Chairman, Bar Council of Andhra Pradesh. The Petitioner has submitted that in complete derogation of this stipulation, the State Bar Council has decided to provide loans to the needy advocates, out of the abovementioned amount released by the Government, at chargeable interest. Also Read: Advocates, Doctors, CAs Now Covered Under MSME Loan Scheme It is submitted that the Council is offering loans of (i) Rs.10,000/- chargeable interest of 5% and (ii) Rs.20,000/- chargeable with interest of 9%. Aggrieved by this departure, the Petitioner has contended: As can be seen from the GO, there is no scope and jurisdiction for the Bar Council to issue the circular towards loan and imposing interest and also repayment;Wording of the GO is clear that a Committee is to be formed by the Advocate General. Thus the Bar Council does not have any jurisdiction to issue the circular and it is only the Committee constituted by the Advocate General who shall issue such circular;Wording used in the GO is that the amount is released towards the Trust for Welfare of Lawyers. In fact a trust has to be formed and the said Trust has to decide the same or in the alternative, the committee Constituted under the Advocate General shall do such exercise of distribution of amounts to the Advocates;Section 6(2) of the Advocates Act, 1961 clearly states that Bar Council shall provide assistance and not loan. The wording there used is only Assistance and not loan. In case of Assistance, there cannot be any repayment;The amount released by the Government is towards “Assistance” of Advocates and not towards “trading the money” as if it’s a commercial Bank. The plea therefore seeks suspension of the Circular issued by the Bar Council and constitution of a Welfare Trust for the purpose of Andhra Pradesh Advocates Welfare. Click Here To Download Affidavit Read Affidavit Next Storylast_img read more

Damage caused to property during Raphoe burglary

Damage caused to property during Raphoe burglary

first_img Facebook By News Highland – October 27, 2020 Google+ News, Sport and Obituaries on Monday May 24th Damage caused to property during Raphoe burglary Important message for people attending LUH’s INR clinic Pinterest WhatsApp Homepage BannerNews Twitter Arranmore progress and potential flagged as population grows Facebookcenter_img Nine til Noon Show – Listen back to Monday’s Programme WhatsApp Pinterest Damage has been caused to a television during a burglary in Raphoe last week The incident happened on Castle Street last Tuesday between 5-5.30pm.The homeowner had left the house unsecured and it was later discovered that someone had been in the house while it was vacant and damage was caused to a television upstairs.A set of drawers upstairs was disturbed but nothing was taken from the house.Gardai are hopeful that someone may recollect having seen something as it occurred during such a short timeframe.If anyone observed any activity in the area or if anyone has any information that will assist Gardaí then please call Letterkenny Gardaí on 074-9167100. RELATED ARTICLESMORE FROM AUTHOR Twitter Previous articleFast food van targeted twice in one weekNext articleGardai investigating ‘very unusual incident’ in Ballybofey News Highland Loganair’s new Derry – Liverpool air service takes off from CODA Community Enhancement Programme open for applications Google+last_img read more

ITskills demand grows by quarter

ITskills demand grows by quarter

first_imgRelated posts:No related photos. ITskills demand grows by quarterOn 11 Jul 2000 in Personnel Today Previous Article Next Article Comments are closed. The second most important skill is creativity (65 per cent this year and 48 per cent five years ago), says a report due from Henley Management College this month.Fifty-four per cent are looking for e-commerce awareness compared with 4 per cent in 1995.The other main skill sought by employers, according to the report, E-Business Management in the New Economy, is strategic awareness – 54 per cent, as against 31 per cent previously. • 01491 571454 www.henleymc.ac.uklast_img read more

Tribunal charge could breach human rights

Tribunal charge could breach human rights

first_img Previous Article Next Article Tribunal charge could breach human rightsOn 1 Sep 2001 in Vexatious claims, Personnel Today The Government could land itself in a legal quagmire if it attempts tointroduce charges for employment tribunal applicants, a leading employmentlawyer has warned. Levying fees while denying legal aid for employment tribunal cases inEngland and Wales is likely to lead to challenges under article 6 of theEuropean Convention of Human Rights which guarantees the right to a fair trial.”Forms of aid are available to claimants in other courts where chargingapplies, but tribunal applicants will have the worst of both worlds – fees onthe one hand and no assistance on the other,” said Rachel Dineley, partnerat Beachcroft Wansbroughs. “The Government may have done well to leave charging alone becausethere will now be an even stronger call for some form of aid, given theposition in Scotland.” The Scottish Executive introduced legal aid for tribunals earlier this yearin an attempt to head off challenges under article 6 but the Government hasshown no signs of following suit. Its proposals on reforming the tribunal system, on which consultation closesat the end of this month, made no mention of aid, but said those on benefits orin “genuine need” would be exempt from charges. Charging a”modest amount” to use the system would bring a faster and morecustomer focused service and would raise funding for improvements in thetribunal and conciliation process, DTI minister Alan Johnson said. The Government’s paper also proposed plans to make internal disputeresolution procedures compulsory and to penalise employers and employees whofail to use such grievance procedures. It was welcomed by employers who arekeen to see the number of tribunal applications reduced. Employers’ body the CBI released figures last month showing the businesscost of tribunals has risen by 50 per cent in the past two years to £633m.”We need a fair, efficient tribunal system but we also need allalternatives excluded before anyone gets near a courtroom,” said directorgeneral Digby Jones. The Industrial Society’s head of policy Patrick Burns said charging was notthe way forward as it would “discriminate against low earners and rationjustice to the better off”. He said the Government should increase fundingfor Acas. “A major expansion in Acas services would repay the Government’s investmentby curbing the tribunal explosion while helping employers install the kind ofprocedures that mean problems don’t turn into disputes,” he said. Key tribunal reform proposals– Employers must have formal disputeresolution procedure– Employers and employees must use this before recourse to law– Awards may be cut if internal procedures not followed– Tribunal applicants must pay a charge unless on benefits orin “genuine need”– Limited extensions to time limit for lodging claims where internalprocedures still in play– Fixed period of conciliation– Fast track system for certain jurisdictions such as unlawfuldeductions and breach of contract– Discretion for tribunals to award wasted non-legal costs forvexatious claims– Power for presidents of tribunals to issue practicedirections. Comments are closed. Related posts:No related photos.last_img read more

Firms consider easing burden f graduate top-up fees

Firms consider easing burden f graduate top-up fees

first_img Previous Article Next Article Firms consider easing burden f graduate top-up feesOn 13 May 2003 in Personnel Today Comments are closed. Some of Britain’s top employers are considering increasing their financialsupport for graduate recruits once universities start charging top-up fees. The annual Financial Times/Association of Graduate Recruiters (AGR) surveyreveals two-thirds of employers polled say they might offer more financialsupport to graduates. This comes in the wake of the Government’s January White Paper, The Futureof Higher Education, outlining plans to allow universities to charge tuitionfees of up to £3,000 a year. A quarter of respondents believe it likely that their organisation willincrease starting salaries, nearly 10 per cent may offer larger joining bonusesand a few say they may offer to pay off student debts accrued by employees. More than 17 per cent of recruiters think it likely they will offer morepaid internships and more than 12 per cent that they may offer somesponsorship. Carl Gilleard, chief executive of the AGR, said it shows employers areconsidering bearing some of the cost of top-up fees. “They want newrecruits to concentrate on their induction and training rather than being overworried about paying off debts,” he said. “It will be interesting to discover in time whether the remunerationpackages employers offer are going to influence graduate career choice.” www.agr.org.uk Related posts:No related photos.last_img read more