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Banks support FTSE amid broad-based gains

Banks support FTSE amid broad-based gains

first_img alison.lock Banks support FTSE amid broad-based gains More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.com LONDON’S FTSE made strong gains today as bank shares surged and sovereign debt fears receded.Athough stocks gave back some of the day’s earlier gains by the market close, the leading index closed closed up 57.73 points or one per cent at 6,014.03.It ended a three-day losing streak and stayed ahead of the 6,000 mark. Banks led the gains, led by Barclays after chief executive Bob Diamond gave evidence to the Parliament Treasury Select Committee on bonuses.Barclays closed up 5.53 per cent at 292p on news that the UK will not levy any additional taxes on the expected £7bn bonus pool and banks will instead be asked to raise business lending by ten per cent, or £20bn.Societe Generale also issued a bullish note on the European banking sector, upgrading it to “overweight”; and Citigroup published upgraded HSBC to “buy” from “hold”, pushing shares in HSBC, Lloyds and RBS all higher. whatsapp whatsapp Capital Shopping Centres lost ground after Simon Property dropped its indicative bid, losing 2.75 per cent to 381.70p.And in the FTSE 250, home furnishings retailer Dunelm fell 5.78 per cent to 497p after reporting a tough time run-up to Christmas, with its out of town retail locations hit by snow.“After subdued trading for much of December, we have seen a return to more normal volatility this week – and this could be set to increase on Wednesday with the Portuguese bond auction and what this could mean for confidence in European sovereign states,” said Anthony Grech, head of research at IG Index.“Markets will be only too mindful of how quickly positive sentiment evaporated in November as the Ireland situation worsened, so the next couple of days have the potential for big swings in equities.” center_img Tags: NULL Miners also performed well, with Kazakhmys up 3.87 per cent to 1,612.00p. Chip-maker Arm Holdings was the FTSE 100’s biggest riser, back up after a bout of profit taking after its ground-breaking deal with Microsoft last week. It closed up 6.99 per cent to 497.50p. Builder supplies group Wolseley gained 5.93 per cent to hit 2,179p after both Citigroup and Deutsche Bank raised their price targets, Citi’s up to 3000p. Builders merchant Travis Perkins also rose in sympathy. 
Among smaller caps, Bluetooth chip specialist CSR closed far ahead as the main market’s biggest riser, up 16.01 per cent to 413p after settling a $67.5m patent infringement case brought against its subsidiary SiRF by Broadcom.Kitchen fitter Howden Joinery also rose 10.05 per cent to 116.10p on a strong Christmas trading update.Medical devices firm Smith & Nephew fell prey to profit takers after a share price spike yesterday on reports of a bid approach from Johnson & Johnson. It lost 5.9 per cent to close at 670p today. Share Show Comments ▼ Tuesday 11 January 2011 4:43 pm Marks & Spencer also fell after its latest trading update showed group sales rose four per cent in the final quarter of 2010. While analysts’ responses were generally favourable, its cautious 2011 outlook put some investors off.last_img read more

Senet Group brings in five new partners

Senet Group brings in five new partners

first_img Topics: Casino & games Marketing & affiliates Sports betting Strategy Bingo Poker Aspers, Caesars, Genting, Playtech and the Rank Group have all signed up as new partners of UK-facing responsible gambling body the Senet Group. Senet Group brings in five new partners Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: UK & Ireland Subscribe to the iGaming newsletter Aspers, Caesars, Genting, Playtech and the Rank Group have all signed up as new partners of UK-facing responsible gambling body the Senet Group.The quintet will now sit at the organisation’s quarterly CEO forum, which advises the Senet board and independent chairman Gillian Wilmot.William Hill, Paddy Power Betfair, SkyBet, GVC (Ladbrokes-Coral) and Scotbet are among the other funding partners that currently support the Senet initiative.“This is a significant statement of intent from all five companies who share the view that responsible gambling should be at the heart of our businesses,” Rank Group CEO John O’Reilly said.“The Senet Group is well placed to deliver an ambitious programme of work, and today’s announcement further strengthens the industry’s wider commitment to ensuring a safer gambling environment can be enjoyed by all customers.”Sarah Hanratty, chief executive of the Senet Group, added: “With a great many initiatives and projects underway across the gambling industry, aimed at understanding and reducing problem gambling, the sector needs to improve its ability to collaborate on the development, testing and sharing of interventions which work. “Senet is doing its part in leading and facilitating collaborative projects, and I am delighted that our new partners have chosen to recognise the importance of collective leadership on safer gambling.”Founded in 2014, the Senet Group focuses on promoting responsible gambling standards in the UK and ensuring that the marketing of gambling products is socially responsible.Ladbrokes, William Hill, Gala Coral and Paddy Power were the first four major bookmakers to support the initiative. Bingo 15th April 2019 | By contenteditor Tags: Card Rooms and Poker Online Gamblinglast_img read more

Forget gold and Bitcoin! I’d follow these 3 simple steps to get rich and retire early

Forget gold and Bitcoin! I’d follow these 3 simple steps to get rich and retire early

first_img Enter Your Email Address The price rises of gold and Bitcoin could attract many investors to them at the present time. After all, they made gains of 15% and 90% respectively in 2019, and have maintained their upward momentum so far in 2020.However, there may be a superior means of generating a retirement nest egg, which provides a passive income in older age. Through buying a diverse range of undervalued FTSE 100 dividend shares, you could obtain a more attractive risk/reward ratio than buying gold or Bitcoin. In the long run, it could improve your chances of obtaining financial freedom in older age and may even help you to retire early.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…Low valuationsThe track record of all assets shows that buying low and selling high has generally been an effective strategy through which to generate profits. As such, buying undervalued FTSE 100 shares could prove to be a better idea than purchasing gold or Bitcoin, since they may offer better value for money at the present time.The uncertain prospects for the UK and European economies, as well as political risks in the US, mean that many sectors across the FTSE 100 contain stocks that have valuations that are considerably below their long-term historic averages. By contrast, gold is close to a seven-year high, while Bitcoin’s lack of fundamentals mean that it is impossible to accurately value. As such, the FTSE 100 could offer superior value for money compared to the precious metal and virtual currency.Dividend stocksWhile gold and Bitcoin do not provide an income, the FTSE 100 contains around 25 companies that offer yields above 5%. Therefore, an investor could build a portfolio that has a yield in excess of 6%, or even higher, depending on the stocks they choose to purchase.The reinvestment of dividends has historically contributed a significant proportion of the index’s total returns. As such, focusing your capital on companies that have high dividend yields that are affordable and have the potential to rise at a faster pace than inflation in the coming years may be a worthwhile means of improving your long-term returns.DiversityDiversifying across a range of FTSE 100 shares could be a sound means of not only reducing risk, but also exposing your portfolio to strong growth areas in a range of geographies and sectors. With the cost of buying shares having fallen significantly in recent years, building a diverse portfolio is now more accessible to a wider range of investors.Although gold and Bitcoin may have risen in recent months, factors such as a future increase in US interest rates and regulatory change could impact negatively on their performances. As such, from a risk/reward standpoint, now may be the right time to focus your capital on a diverse range of undervalued income shares within the FTSE 100. “This Stock Could Be Like Buying Amazon in 1997” See all posts by Peter Stephens Image source: Getty Images 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. 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. Peter Stephens | Wednesday, 19th February, 2020 Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. 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. Forget gold and Bitcoin! I’d follow these 3 simple steps to get rich and retire early Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!last_img read more

Forget gold and Bitcoin. I’d choose these two quality shares to make me a fortune

Forget gold and Bitcoin. I’d choose these two quality shares to make me a fortune

first_imgForget gold and Bitcoin. I’d choose these two quality shares to make me a fortune Andy Ross | Thursday, 13th August, 2020 | More on: CCC PZC Simply click below to discover how you can take advantage of this. Our 6 ‘Best Buys Now’ Shares 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. 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. 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. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!center_img Andy Ross owns no share mentioned. The Motley Fool UK has recommended PZ Cussons. 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. Enter Your Email Address Image source: Getty Images “This Stock Could Be Like Buying Amazon in 1997” Although the price of gold and Bitcoin may be rising, I think there are quality shares on the FTSE 350 which could make any investor more money. Two examples would be companies some investors may be unfamiliar with: Computacenter (LSE: CCC) and PZ Cussons (LSE: PZC).A high quality share with growth potential Turning first to Computacenter. The share price is past where it was pre-Covid, which is quite the bounce-back. I think this in part due to the wider appeal of technology stocks in these times. That’s not to say though that Computacenter isn’t a good company in its own right. In my view it is.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…Back in July, Computacenter said adjusted profit before tax in the first half turned out to be “substantially ahead” of the same period last year.On top of this, although 2020 is difficult to predict, the year should be one of “material progress” according to the board. This follows on from a record-breaking 2019. The reasons for optimism are the demand for services, the current managed services opportunity pipeline and the strength of its customer base. All in all then, the shares have significant tailwinds which are helping push up the share price in the short term. Looking further into the future is difficult but I see no reason why the trends we’re seeing now will lessen. I expect Computacenter to be able to rewards shareholders for a long time to come.A quality share bought by a leading fund manager Shares in PZ Cussons, owner of brands such as Imperial Leather and Original Source, haven’t quite bounced back to where they started the year. But I think the share, on a trailing P/E of 15 and with a dividend yield over 4%, offers a potentially rewarding combination of income and growth potential.Its advantages are diverse market exposure, a wide range of brands and exposure to emerging markets, in particular Nigeria. Exposure to the populous African nation has been a double-edged sword for the group. It is though, a potentially huge growth market.Highly rated fund manager Nick Train has bought the shares. That was back in late 2019. He likes companies in the FMCG sector and PZ Cussons is much cheaper than some of the other shares he owns such as Unilever and Diageo. It also, like those other groups, has the recognisable brands, which is something else it’s known that Train likes.Like Unilever, PZ Cussons has been hit by Covid-19. This has particularly hit its beauty brands. It expects to meet its profit expectations but these will be at the lower end of its forecasts. Like Train, I’d be prepared to buy and hold these shares. I think there’s room for operational improvements and long-term potential from the brands the group owns. See all posts by Andy Rosslast_img read more

Sainsbury’s to support Comic Relief for six more years

Sainsbury’s to support Comic Relief for six more years

first_img Howard Lake | 16 December 2011 | News Tagged with: Comic Relief corporate  75 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Supermarket Sainsbury’s has committed itself to support Comic Relief for a further six years. It is the charity’s largest corporate partner and has raised nearly £60 million since 1999, almost 10% of the money raised by the UK public for Comic Relief over the past 12 years.The ongoing partnership should see Sainsbury’s, its staff and customers, raise a further £50 million through three more Red Nose Days and three Sport Reliefs.This year Sainsbury’s customers and staff raised a record £11.4 million for the charity through merchandise sales and fundraising. Sainsbury’s staff alone raised over £2 million.Speaking at the announcement at Sainsbury’s in Cromwell Road, West London, comedian Lenny Henry said: “This new deal marks something truly incredible! £100 million pounds is an insane amount of money and having seen firsthand where every penny goes, I am so proud to be a part of this, it’s going to change a lot of lives.”Comic Relief chief executive, Kevin Cahill, said: “For one company to help raise £100 million will be truly historic.”Sainsbury has committed itself to raising £400 million for charitable causes by 2020.As part of its 20 by 20 sustainability plan, Sainsbury’s aims to have raised £400m for charitable causes by 2020.www.comicrelief.comPhoto: Lenny Henry. © Jeff Spicer/Comic Relief Sainsbury’s to support Comic Relief for six more yearslast_img read more

U.S. detains, tortures Philippine activist

U.S. detains, tortures Philippine activist

first_imgProtesters picketed the Portland, Ore., ICE office on April 20. Passing traffic supported them with honks, thumps up and raised fists. The demonstration was called by ICHIRP, Gabriela and Anakbayan and supported by Workers World Party.Jerome Aba, a 25-year-old peace activist from Mindanao, the Philippines, was detained Apriil 17 for 28 hours in isolation at the San Francisco International Airport by U.S. Customs and Border Protection. Despite showing a valid visa, Aba suffered physical and psychological torture and was denied the right to a lawyer before being sent back to the Philippines.“The whole time we were outside the CBP office, the CBP implemented torture tactics used by the CIA in places like Guantánamo Bay, not something we expect to happen at an airport on U.S. soil, right here in the SF Bay Area,” said Terry Valen, president of the National Alliance for Filipino Concerns. (facebook.com/ichrp.pnw)Aba came to the U.S. to participate in the “Stop the Killings Speaking Tour: The People’s Caravan for Peace and Justice in the Philippines.” He is the national chairperson of Suara Bangsamoro and co-chair of Sandugo Movement for Moro and Indigenous Peoples for Self Determination.The caravan will travel to six major cities from April 20 through May 11. It will expose the human rights violations in the Philippines through testimonies from Filipino people who have witnessed grave abuses by the U.S.-backed Rodrigo Duterte regime.According to Valen, “The CBP lied in an apparent cover-up of their torture of Jerome. The reason for his detainment was very political, not an ‘unspecified problem’ or ‘very common glitch’ with his visa. They knew about his advocacy for Indigenous and Moro people and accused him of being a terrorist.“The only food they gave him had pork, in blatant disrespect to his Muslim religion, and they restricted water for him to drink. We are outraged and will continue to stage protests calling for Justice for Jerome!”Demonstrations to protest Aba’s treatment and demand his return took place in Washington, D.C.; New York City; Portland, Ore.; and Chicago, and will continue in a number of cities.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Purdue Announces Soybean Research Center

Purdue Announces Soybean Research Center

first_img Purdue Announces Soybean Research Center SHARE Home Indiana Agriculture News Purdue Announces Soybean Research Center Previous articleSurvey Says: Beef Checkoff Pays offNext articleAg Vocab Gary Truitt Facebook Twitter Facebook Twittercenter_img SHARE Purdue Announces Soybean Research Center By Gary Truitt – Aug 8, 2014 Jay AkridgeIt was Purdue Day at the Indiana State Fair on Friday, and the Purdue School of Agriculture took the opportunity to announce a new soybean research center.   Purdue Dean of Agriculture Jay Akridge said the new center will bring together soybean  research from a variety of different disciplines with the goal of engaging in new research efforts that are not being made now and will likely result in new soybean research breakthroughs, “This kind of collaboration will spur research in new areas and will make connections that we are not currently making.”  During a press conference at the Glass Barn at the Indiana State Fair, Akridge said that Purdue’s work with the soybean industry is important because soybeans are a major crop in Indiana, where farmers last year produced 264.7 million bushels, fourth highest in the nation, on 5.2 million acres. This year, Indiana farmers planted 5.5 million acres in soybeans. That value chain, Marshall Martin noted, links research in such areas as animal and human nutrition sciences; food science; aquaculture; plant pathology; economics; engineering; genetics and breeding; agronomic production practices; and entomology.Marshall MartinThe Soybean Center will formally begin operations in the fall. Marshall Martin, senior associate director of agricultural research, assistant dean of agriculture, and a professor of agricultural economics, was appointed as the center’s founding director for two years. Martin told HAT the focus will  be to improve the profitability of soybeans all along the value chain, “With more than 40 faculty and staff members at Purdue whose work in some way involves soybeans, we are pooling our resources to help tackle some of the complex challenges affecting the efficiency and profitability of the soybean industry as well as the food nutrition needs of the public.” That value chain, Martin noted, links research in such areas as animal and human nutrition sciences; food science; aquaculture; plant pathology; economics; engineering; genetics and breeding; agronomic production practices; and entomology.Jane Ade Stevens, David LoweIndiana soybean farmers will play a role in this new center, as funding from the soybean checkoff will continue to fund new research efforts.  David Lowe, President of the ISA, says the Indiana soybean checkoff has invested over $10 million in soybean research at Purdue since its inception, “Bringing together all of the faculty whose work touches on soybeans under one umbrella will allow us to ensure that our checkoff investments at Purdue are used efficiently and in the best interest of Indiana soybean farmers.”   A major component of the center’s activities will be the involvement of the soybean industry. “The creation of the Purdue Soybean Center will allow us to build upon the solid working relationship the Indiana Soybean Alliance has with the university and expand our opportunities to collaborate on important issues affecting our farmers and the entire soybean industry,” said Jane Ade Stevens, CEO of the ISA.last_img read more

Former President George W Bush’s visit may cause traffic disruption

Former President George W Bush’s visit may cause traffic disruption

first_img Previous articleHarper Lee, ‘To Kill a Mockingbird’ author, dead at 89Next articleResidents find furrier Valentines to love Chandler Highfill RELATED ARTICLESMORE FROM AUTHOR Grains to grocery: One bread maker brings together farmers and artisans at locally-sourced store Linkedin Twitter printCommuters could experience some congestion while driving near TCU next week.Former President George W. Bush will be the keynote speaker at TCU’s 14th annual Investment Strategies Conference on Friday.The conference will include two different functions. The first is a series of morning sessions in the D.J. Kelly Alumni Center off Stadium Drive. Later that day will be a luncheon where the former president will give his keynote address held in the Brown-Lupton University Union.TCU Police Sgt.  Kathy Moody said TCU and Fort Worth police will be working that day to keep traffic flowing smoothly.“There will be two police officers assisting with crossing Stadium Drive during the lunch hour,” Moody said. “There will be restricted access to the BLUU Ballroom area, but the goal is to not cause a disruption to student activities.”In addition, two visitor parking lots will be closed for the day and designated for “trustees and distinguished guests,” Moody said.Fort Worth police Sgt. Steven Enright said the route of the former president’s procession can’t be released due to security concerns. Chandler Highfillhttps://www.tcu360.com/author/chandler-highfill/ + posts Chandler Highfill Chandler Highfillhttps://www.tcu360.com/author/chandler-highfill/ Facebook ReddIt Chandler Highfillhttps://www.tcu360.com/author/chandler-highfill/ ReddIt FW Parking app receives warm reception Abortion access threatened as restrictive bills make their way through Texas Legislature Chandler Highfillhttps://www.tcu360.com/author/chandler-highfill/ Fort Worth set to elect first new mayor in 10 years Saturday Twitter The109: Former President George W. Bush’s visit may cause traffic disruptions Linkedin Facebook Cliburn in Sundance Square Former President George W Bush’s visit may cause traffic disruptionlast_img read more

Investigative radio reporter arrested in Madagascar

Investigative radio reporter arrested in Madagascar

first_img The 2020 pandemic has challenged press freedom in Africa May 10, 2017 – Updated on May 11, 2017 Investigative radio reporter arrested in Madagascar Reports RSF_en News Credits : Fernand Cello at the 16th Francophonie Summit, november 2016 / Private News Fernand Cello, whose real name is Avimana Fernand was arrested on the evening of 6 May as he left a private clinic in the capital, Antananarivo, where he had been receiving treatment during the previous few days. The individuals who carried out the arrest identified themselves as gendarmes.An investigative reporter for Radio Jupiter, a radio station based in the southern city Ilakaka, Cello is well-known for having exposed the existence of an illegal sapphire mine in Ilakaka and had only recently emerged from four months in hiding. The charges brought against him include “defamation”, “spreading false news”, “inciting hatred” and “endangering state security”. It is not known to what specific alleged actions by Cello they refer. An additional charge of “stealing chequebooks” has been filed against him by Maherlla, a privately-owned power company based in Ilakaka that was accused by Cello in August 2016 of cheating its clients.“We condemn the use of such methods by the Madagascan authorities, who would rather harass an investigative journalist than confront the conflicts of interest and corruption that are eating away at the nation, RSF said. The long list of accusations brought against Fernand Cello shows that their aim to put a stop to his investigative reporting altogether because he has been hitting the target. We call for his release and the withdrawal of all the charges.” Cello went into hiding in December 2016 after getting death threats and after the army raided Radio Jupiter and confiscated its transmitter. Shortly before the raid, Cello had – in broadcasts and in posts on social networks – accused Gondwana, a mining company owned by government allies, of operating an illegal sapphire mine. Radio Jupiter was previously silenced in August 2016 when the local power company Maherlla turned off its power suppler after Cello accused it on the air of colluding with Ilakaka’s mayor to cheat consumers.On 21 April, the ministry of mining finally ordered Gondwana to suspend operations for contravening the mining code. It was this decision that persuaded Cello to come out of hiding.Madagascar is ranked 57th out of 180 countries in RSF’s 2017 World Press Freedom Index. MadagascarAfrica Condemning abuses Judicial harassmentImprisonedFreedom of expression News Follow the news on Madagascar Receive email alertscenter_img Madagascar : Sabotage silences TV channel that criticized coronavirus measures RSF urges Madagascar to let journalists cover Covid-19 freely Organisation to go further MadagascarAfrica Condemning abuses Judicial harassmentImprisonedFreedom of expression Help by sharing this information November 27, 2020 Find out more Reporters Without Borders (RSF) condemns combative radio journalist Fernand Cello’s arrest on seven outrageous charges, requests his immediate release and calls on the Madagascan authorities to stop persecuting him. April 30, 2021 Find out more April 16, 2020 Find out morelast_img read more

Parliament Passes Contentious Agricultural Bills For Inter-State Trade, Contract Farming [Read Bills]

Parliament Passes Contentious Agricultural Bills For Inter-State Trade, Contract Farming [Read Bills]

first_imgTop StoriesParliament Passes Contentious Agricultural Bills For Inter-State Trade, Contract Farming [Read Bills] Akshita Saxena20 Sep 2020 3:58 AMShare This – xThe Parliament today cleared the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 and the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020, by voice vote. The Bills have set off widespread farmers’ protests who fear that shall not be paid the Minimum Support Price. However, both the Agriculture Minister and the…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?LoginThe Parliament today cleared the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 and the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020, by voice vote. The Bills have set off widespread farmers’ protests who fear that shall not be paid the Minimum Support Price. However, both the Agriculture Minister and the Prime Minister have assured that the Bills do not affect the mandate of MSP. The Bills, already in force as Ordinances, were passed in the Rajya Sabha on September 17, 2020 and cleared today by the Lok Sabha, however amid utter chaos and opposition. They seek to facilitate intra-state and inter-state trade of farmers’ produce and execution of agreements between farmers and buyers, prior to the production/ rearing of any farm produce. Parliamentary Debate The Bills were widely opposed in the Upper House for their potential of abuse by the private sector, leading to further exploitation of the farmers. With respect to Bill for ‘Contract Farming’, the Members apprehend that the Private sector may ‘bulldoze’ the farmers into entering unfair contracts, for prices below MSP. They asked the Government why the farmers were not getting ‘Remunerative prices’ and why the Bill did not guarantee a Minimum Support Price. Significantly, farmers have been protesting across the country, fearing that they will not be paid Minimum Support Price (MSP). However, Agriculture Minister Narendra Singh Tomar has clarified that these bills would not have any impact on the MSP mechanism, which would continue as it is. The Prime Minister has also addressed the farmers and assured that MSP shall not be abolished. During the debate, it was highlighted that in case of non-performance of Contract by the private sector, farmers shall be susceptible to prolonged litigation against big corporates, having deep pockets. Other key issues raised during the debate are listed thus: Parliament is not competent to enact a legislation on the subject of Agriculture since it falls under the State List at Entry No. 14 under Schedule VII of the Indian Constitution. Bills have the effect of privatizing the agricultural sector which will be detrimental to the farmers’ interest in the long run; privatization invites black marketing, hoarding and profiteering. Bills will not help to cut down middlemen as they will continue to operate in the form of ‘sponsors’ for Contract Farming. Bill allows farmers to trade all over the country but there is no provision to bring buyers in the market (amid a dying economy). Farmers have minimal bargaining power and there’s a massive potential for exploitation by powerful, profit-oriented private sector companies. By de-regularizing the agricultural sector, the Bill diminishes state control which not only affects the state Government’s revenue but also renders them incapable to regulate in case the private sector resorts to unscrupulous practices. The Dispute Resolution mechanism proposed by the Bills is very discriminatory towards the farmers. A member highlighted that whereas the farmers have been given only a 30 days window to file their appeals before the Appellate Authority, the Companies get 60 days. Responding to the debate, Tomar assured that the legislations will benefit the farmers by increasing competition among traders, thereby enabling them to bargain at a higher price. Further, the farmers shall have an elaborate market as they will be able to trade freely anywhere in the country. On involvement of private sector in agriculture, the Minister said that it shall enhance farming as farmers will gain access to better infrastructure and modernised services. He said that the bill will ensure that many services will reach small farmers. So far as the Dispute Resolution mechanism is concerned, he explained that the Sub-Divisional Magistrate will ask both the parties in dispute to appoint two panch each who try to reach a solution. However, in case the dispute is not resolved. The SDM will resolve the issue himself. He further said that in case the matter goes to the court and an unfavourable order is passed against the farmer, then he shall be liable to pay only the actual disputed amount and that his land/ property shall not be attached. Tomar also added that the contracts signed under this law will also have a provision that if prices at time of sale are more than what was agreed to at the time of contract, then the farmers will get a certain percentage of the additional profit. Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 This Bill permits sale and purchase of farmers’ produce at remunerative prices through ‘competitive alternative trading channels’ to promote efficient, transparent and barrier-free inter-State and intra-State trade of farmers’ produce outside physical premises of markets notified under various State legislations. Trade of farmers’ produce It permits trade of farmers’ produce outside: physical premises of market yards under the state APMC (Agriculture Produce Marketing Committee) Acts other markets notified under the state APMC Acts. Such trade can be conducted in an ‘outside trade area’, i.e., any place of production, collection, and aggregation of farmers’ produce including: (i) farm gates, (ii) factory premises, (iii) warehouses, (iv) silos, and (v) cold storages. Electronic trading It permits electronic trading of scheduled farmers’ produce in the specified trade area. To give effect to the same, following entities may establish and operate an electronic trading and transaction platform: companies partnership firms registered societies (having PAN) farmer producer organisation agricultural cooperative society Market fee abolished It prohibits state governments from levying any market fee, cess or levy on farmers, traders, and electronic trading platforms for trade of farmers’ produce conducted in an ‘outside trade area’. Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020 This Bill seeks to provide for a national framework on farming agreements that empowers farmers to engage with agri-business firms, processors, wholesalers, exporters or large retailers for farm services and sale of future farming produce at a mutually agreed ‘remunerative price’. Farming agreement The Bill provides for a farming agreement between a farmer and a buyer prior to the production or rearing of any farm produce. Minimum period of agreement: one crop season/ one production cycle of livestock Maximum period of agreement: five years (unless the production cycle is more than five years)) No farming agreement shall be entered into by a farmer in derogation of any rights of a share cropper. Pricing of farming produce The price of farming produce and process of price determination should be mentioned in the agreement. For prices subjected to variation, a guaranteed price for the produce and a clear reference for any additional amount above the guaranteed price, including bonus or premium, must be specified in the agreement. Registration Authority The Bill establishes a Registration Authority to provide for e-registry and for registration of farming agreements. ] Dispute Settlement The Bill also provides for conciliation and dispute settlement mechanism for settlement of disputes under the farming agreement. Resolution Process The Conciliation Board shall have a fair and balanced representation of parties to the agreement. At first, all disputes shall be referred to the board for resolution. If the dispute remains unresolved by the Board after thirty days, parties may approach the Sub-divisional Magistrate for resolution. Right to Appeal Parties will have a right to appeal to an Appellate Authority against decisions of the Magistrate. Both the Magistrate and Appellate Authority will be required to dispose of a dispute within thirty days from the receipt of application. Penalties The Magistrate or the Appellate Authority may impose certain penalties on the party contravening the agreement. However, no action can be taken against the agricultural land of farmer for recovery of any dues. Linkage of farming agreement with insurance or credit The Bill provides that a farming agreement may be linked with insurance or credit instrument under any scheme of the Central Government or the State Government or any financial service provider to ensure ‘risk mitigation’ and ‘flow of credit’ to farmer or Sponsor or both; These Bills are being read together with the Essential Commodities (Amendment) Bill, 2020 which allows the central government to regulate the supply of certain food items including cereals, pulses, potatoes, onions, edible oilseeds, and oils, under extraordinary circumstances (such as war and famine). The Government may impose stock limits on agricultural produce, only if there is a steep price rise (100% rise). The Bills will now be tabled before the President for his assent. Click Here To Download Bill [Free Trade & Commerce] Click Here To Download Bill [Contract Farming] Next Storylast_img read more