City banker nabbed for M&A role at $320bn Qatari state fund

first_img City banker nabbed for M&A role at $320bn Qatari state fund whatsapp Tags: Trading Archive Qatar’s largest sovereign wealth fund has grabbed a top City of London banker to run its deal-related activities worldwide, as it moves to expand a $320bn (£246.6bn) portfolio that includes the single-largest stake in supermarket Sainsbury’s, Sky News reported. Sky said Ken McLaren, currently a managing director at Bank of America Merrill Lynch (BAML), will leave his post later this year to join the Qatar Investment Authority (QIA), one of the largest state-backed investment vehicles in the world.Read more: Uber nabs former Merrill Lynch CFO as top finance boss in race to go publicSince its launch in 2005 and a way to further monetise Qatar’s substantial gas reserves, the QIA has gradually expanded its global portfolio into a range of sectors.Its assets include stakes in mining group Glencore, the London Stock Exchange Group, Heathrow airport and in lender Barclays. It has held a large stake in Sainsbury’s since 2007, and has supported a merger between the company and its sector rival Asda.Read more: Government financed deal to sell military aircraft to Qatar takes off Sources told Sky that McLaren, who has held a variety of roles at BAML, would be focused on international investments.The QIA recently announced a leadership shake-up, with Mansoor bin Ebrahim Al Mahmoud taking over from Sheikh Abdullah Bin Mohammed Al Thani as its chief executive. center_img Louis Ashworth Share Tuesday 2 October 2018 4:48 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org whatsapplast_img read more

Mark Carney warns trade war could ‘shipwreck’ global economy

first_img Mark Carney warns trade war could ‘shipwreck’ global economy whatsapp However, he added that a global trade war and a no-deal Brexit were possibilities but not yet certainties. “I have no doubt whatsoever that in a no-deal Brexit we will need all of that money and more to respond to the immediate impacts of the disruption of a no-deal Brexit,” he told MPs. Share Speaking in Bournemouth today Carney said financial markets had recently experienced a “profound transformation” driven by growing concerns over the impact of rising trade tensions and policy uncertainty.  Bank of England governor Mark Carney today warned that a trade war could “shipwreck” the global economy.  “And that will mean there is no money available for longer-term either tax cuts or spending increases.”  Tuesday 2 July 2019 6:43 pm In the event of a no-deal Brexit, the £26bn “fiscal headroom” would need to be funnelled towards dealing with the economic disruption, he said.  whatsapp He said: “As I have sought to illustrate, whether current trade tensions shipwreck the global economy or prove to be a tempest in a teacup will have an important influence on the outlook for growth and inflation in the UK.” The chancellor has been in dispute with Conservative Party leadership hopefuls Jeremy Hunt and Boris Johnson over the true cost to the UK of leaving the EU without a deal in place. center_img Meanwhile chancellor Philip Hammond has warned that a no-deal Brexit could cost the UK up to £90bn.  Read more: FTSE 100 reaches two-month high as China trade war enters truce “The news at the weekend that the US and China agreed to restart trade talks is welcome – through as we have learned, progress today is no guarantee of progress tomorrow,” the central bank governor added.  Carney’s comments come days after US president Donald Trump and his Chinese counterpart Xi Jinping agreed a trade war truce and announced the world’s two largest economies would reopen negotiations.  Read more: No-deal Brexit would cost UK £90bn, warns Philip Hammond Hammond insisted that there is no “pot of money” to allocate towards tax cuts or additional spending. Jessica Clark Both candidates have indicated they would boost spending and introduce tax cuts, while also saying they are prepared to leave the EU without a transition deal.  Tags: Mark Carney by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funnylast_img read more

Javid confirms National Insurance cut from April

first_imgThe threshold at which people start paying NICs will be raised by more than 10 per cent to £9,500, according to new legislation laid in parliament today. The Institute for Fiscal Studies argues that the largest proportional gains will go to middle-income and upper-income earners. Households nearer the bottom typically would get a larger share of their income from benefits, which meant they would not feel as much of an impact. Show Comments ▼ Javid confirms National Insurance cut from April Javid said: “We’re determined to do what we promised and put more money into the pockets of ordinary hard-working people. That’s why we’re starting this government as we mean to go on, by cutting their bills. Share Thursday 30 January 2020 4:28 pm Catherine Neilan whatsapp Sajid Javid, Chancellor of the Exchequer, leaves Downing Street (Getty Images) Chancellor Sajid Javid has today confirmed the government will raise the threshold for National Insurance contributions (NICs) from April, saving the average worker more than £100. The government claim it is key to their promise of “levelling up” the country. However critics point out it is not the most effective ways to do so. “We want everyone to feel that they can contribute to the new chapter we are opening for the economy and our country, because under this Government work will always pay.” A typical employee will save around £104 in 2020-21, while self-employed people, who pay a lower rate, will have £78 cut from their bill. whatsapp It was one of the centre points of the Conservative manifesto on tax cuts, announced by the Prime Minister somewhat on the hoof during a Q&A following one of his many campaign speeches. last_img read more

Partying Before the Emmys

first_imgCJ Wilcox (Clippers), Victor Black (Mets), and Two Feet Project Founder Nate YokersCatherine Guidici Lowe and Two Feet Project Founder Stephen IshmaelParty guests in the wine cave at RivabellaJulian Morris and Jai Khanna (Brillstein Entertainment Partners)Todd Spiewak, Jim Parsons, and Richard Lovett at CAATony Goldwyn and Anna Musky-Goldwyn at CAAJerry Weintraub and Kevin Tsujihara at CAASofia Vergara and Joe Manganiello at CAA I hope you haven’t been trying to get into your favorite restaurant this week, because many are booked for Emmy parties. Here were two worth a looksee…My first stop was at Rivabella for a Two Feet Project fundraiser. Founders Steven Ishmael, Nate Yokers and LA Board member Evan Kirkpatrick threw a dinner that took up all available space in the restaurant’s gorgeous brick wine cave. The org promotes positive change in Kenya where 60% of the population is under 25-years-old. Who was among the philanthropic crowd eating really good lasagna? There was a NY Met (Victor Black) and a Clipper (CJ Wilcox) and actor-types like Josh Henderson, Patrick Sane, Julian Morris and Catherine Guidici Lowe.Over at Bouchon in Bev Hills, CAA held its annual pre-Emmy bash that hit SRO around 10ish—when people began pouring out onto the balconies to celebrate. And the best-looking couple award? It has to go to newbie lovebirds Sofia Vergara and Joe Manganiello. Check out the pic, just don’t stare at it too long—it’s like staring into the sun. You may go blind. Who else popped by? Eric Stonestreet, Jerry Weintraub, Tony Goldwyn, Diane Kruger, Whitney Cummings, and Jim Parsons, among others.I will be Tweeting (@karimozena) backstage at the Emmys and inside the Governors Ball on Monday and will give you even more scoop on Tuesday morning—STAY TUNED…  Two Feet Photographs by Araya Diaz / Getty ImagesCAA photographs by Alex J. Berliner, Brandon Clark and Benjamin Shmikler / ABImages     TAGSBouchonCAAEmmysJoe ManganielloRivaBellaSofia VergaraPrevious articleSeptember 2014Next articleTexas Brewery Releases 99-Pack of BeerKari Mozena RELATED ARTICLESMORE FROM AUTHORWill Any of the Hollywood Agencies Touch Trump?Philip Righter’s Basquiats Were as Fake as His Origin Story. How the Masquerade UnraveledThe Writers Guild and CAA Have Struck a Deal to Reunite Writers and Their Agents Awards WatchCelebrityUncategorizedPartying Before the EmmysHitting the pre-Emmy parties, from an intimate gathering for do-gooders to CAA’s SRO bashBy Kari Mozena – August 25, 2014742ShareEmailFacebookTwitterPinterestReddItlast_img read more

Roche partners with Arrakis Therapeutics to develop drugs that target RNA

first_img Scientists at Arrakis Therapeutics are working to develop oral medicines that can target RNA. The startup signed on Swiss pharma giant Roche as its first strategic partner. Arrakis lab Biotech Log In | Learn More About the Author Reprints STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Last year, Arrakis Therapeutics announced early but important progress toward a drug-development goal long thought to be a biotech fantasy: the creation of oral medicines that can target RNA, the messenger-like molecules that turn genetic instructions into proteins.On Wednesday, the Waltham, Mass.-based startup checked another box on its list of milestones: signing on its first strategic partner, the Swiss pharma giant Roche, which will pay $190 million upfront to license Arrakis’ technology. The two companies will work together to develop a new class of pills with potential to block the RNA machinery that makes disease-causing proteins. Tags Bostondrug developmentSTAT+ Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. What is it? What’s included?center_img Adam Feuerstein GET STARTED Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+. First 30 days free. GET STARTED Roche partners with Arrakis Therapeutics to develop drugs that target RNA Senior Writer, Biotech Adam is STAT’s national biotech columnist, reporting on the intersection of biotech and Wall Street. He’s also a co-host of “The Readout LOUD” podcast. @adamfeuerstein By Adam Feuerstein April 8, 2020 Reprints [email protected] last_img read more

Alex Trebek’s widow Jean offers thanks for support

first_imgAdvertisement AdvertisementThey married in 1990 and had two children.The former Jean Currivan told People magazine in 2019 that they began their relationship as friends.“There was just this deep sensitivity about him with a gruffy exterior,” she said of her husband. “I kept thinking, he’s 24 years older than me … but there was something that just kept drawing me to him.” AdvertisementTags: Alex TrebekJean Trebek More ‘Jeopardy!’ guest hosts announced, including Katie Couric and Aaron Rodgers January 14, 2021 Four more names added to Jeopardy! guest host roster February 3, 2021 ‘Jeopardy!’ releases final message to longtime host Alex Trebek January 11, 2021 Their love affair lasted for decades, and in 2019 the “Jeopardy!” host sang his wife’s praises to People.“I’m pretty satisfied with my life,” he said. “But my wife Jean and I have been together almost 29 years, and I was thinking about President Bush when he died, and all the comments about his life about what a nice guy he is, and how he and his wife had been together 73 years. I thought, oh my gosh … if I’d just met Jean in my 20s we could have had a longer life together.”The-CNN-Wire™ & © 2020 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. RELATEDTOPICS Alex Trebek gave Thanksgiving message in ‘Jeopardy!’ show filmed before he died November 27, 2020 AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments (CNN) — Jean Trebek is grateful for the support in the wake of her husband’s death.Alex Trebek died Sunday after battling pancreatic cancer. He was 80.His wife posted their wedding photo on Instagram and a message to her followers.“My family and I sincerely thank you all for your compassionate messages and generosity,” she wrote. “Your expressions have truly touched our hearts. Thank you so very, very much. AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments Advertisementlast_img read more

Gov. DeSantis orders three Florida buildings to fly flags at half-staff in honor of Rush Limbaugh

first_imgNikki Fried tells offices to ‘disregard’ order to lower flags for Rush Limbaugh February 23, 2021 Conservative radio personality Rush Limbaugh has died at 70 February 18, 2021 AdvertisementLimbaugh passed away in his home on Feb. 17 at 70 after battling lung cancer. In 1988, he began “The Rush Limbaugh Show,” which became one of the most prominent of its kind in conservative media. Former President Trump awarded Limbaugh the Presidential Medal of Freedom on February 4, 2020. He holds recognition in both the National Radio Hall of Fame and the National Association of Broadcasters Hall of Fame.Reactions from both sides of the aisleBefore officially announcing his order, the governor had floated the idea around of having the whole state fly its flags at half-staff. His sentiment was met with vitriol and support, as many regard Limbaugh with disdain or favor depending on personal political views. Rep. Debbie Wasserman Schultz (D-Florida) called the governor’s decision “an embarrassment to Florida,” before he officially made the order. Gov. DeSantis ordered only three Florida buildings to fly their American flags at half-staff in memory of Rush Limbaugh, a conservative media icon. DeSantis announced the order Tuesday night, which includes the Palm Beach County Courthouse in West Palm Beach, the Town Hall of Palm Beach and the State Capitol in Tallahassee. The duration will last from sunrise to sunset on Wednesday, Feb. 24. After DeSantis’ announcement, Palm Beach County Commissioner Melissa McKinlay refused the order, saying the court house flag will not be lowered on Wednesday. Some Florida educators disagree with DeSantis requiring flags at half staff for Rush Limbaugh February 23, 2021 RELATEDTOPICS “Although Rush Limbaugh was a significant public figure, he was also an incredibly divisive one who hurt many people with his words and actions. I cannot and will not support the lowering of flags in his memory,” McKinlay tweeted. Governor DeSantis says he’ll order flags flown at half-staff in honor of Rush Limbaugh February 23, 2021 “Rush Limbaugh weaponized his platform to spread racism, xenophobia and homophobia across the nation,” she said in a tweet. “His constant hateful rhetoric caused untold damage to our political landscape.”Florida Agricultural Commissioner Nikki Fried, who many speculate will make a bid for the governor’s seat in the 2022 election, also expressed disdain. “The flag of the United States of America is a sacred honor that pays respect to fallen heroes and patriots. It is not a partisan political tool. Therefore, I will notify all state offices under my direction to disregard the Governor’s forthcoming order to lower flags for Mr. Limbaugh – because we will not celebrate hate speech, bigotry, and division. Lowering the flag should always reflect unity, not division, and raising our standards, not lowering them,” Fried said.Others felt strongly that Limbaugh’s long trail-blazing career deserved a half-staff response around the country. “I’m calling on Joe Biden to order flags to be flown at half-staff in honor of Rush Limbaugh,” freshman Rep. Lauren Boebert of Colorado said in a tweet Friday.Christian Ziegler, vice chairman of the state’s Republican Party, tweeted in response to Fried that apparently “Conservative Cancel extends post-death.” Robin Vos, the Republican speaker of the Wisconsin State Assembly, also shared on Twitter a letter he sent to Wisconsin Gov. Tony Evers asking him to lower flags throughout the state in honor of Limbaugh.Many have accused Limbaugh of being controversial, bigoted and racist, though those claims never got in the way of his career. “Rush is the GOAT — of radio, of conservative media and of inspiring a loyal army of American patriots,” the governor said in a statement after his death. “We don’t know who will succeed Rush as America’s anchorman, but we do know that nobody will ever replace him.”It should be noted, American flags have already been order to fly at half-staff in honor of the 500,000 people who died from COVID-19. That order ends on Friday at sunset. AdvertisementTags: Rush Limbaugh AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 commentsDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 commentslast_img read more

BREAKING: First Electric Picnic acts are announced

first_imgHome Lifestyle Entertainment BREAKING: First Electric Picnic acts are announced LifestyleEntertainment BREAKING: First Electric Picnic acts are announced RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter Picnickers snapped up the early bird tickets within four hours of going on sale a few months ago, yet again demonstrating the unwavering popularity of Ireland’s favourite music and arts festival – Electric Picnic.Electric Picnic 2019 will see an increase in capacity of 2,500 bringing the capacity to 57,500 and with 600 acres on the beautiful Stradbally Estate music fans can look forward to some brand new areas.Other acts announced to perform at the festival include: Echo & the Bunnymen – Courtney Barnett – Parquet Courts – Mitski – Miles Kane – Freya RidingsMØ – Amelie Lens – Maceo Plex – Kölsch – Sam Fender – Sons of KemetYves Tumor – Serpentwithfeet – Shura – ALMA -Kero Kero Bonito – Let’s Eat GrandmaBodega – Cavetown – Georgia – Sea Girls – Sasami – G Flip – Heavy LungsSEE ALSO – In Pictures: €3,400 raised for Oesophageal Cancer Fund in Portlaoise on Lollipop Day Previous articleFormer RTE newsreader calls on Laois businesses to support Daffodil DayNext articleDelay on Kolbe Special School new building is a ‘disgraceful treatment of children’ Siun Lennonhttp://heresosiun.blogspot.ie/2016/09/the-lekkie-piccie-experience.htmlSiún Lennon joined LaoisToday in a full-time capacity after studying Journalism and New Media in the University of Limerick. She hails from Rosenallis and her interests vary from news, sports and politics. By Siun Lennon – 13th March 2019 Pinterest Pinterest Facebook Twittercenter_img GAA WhatsApp Here are all of Wednesday’s Laois GAA results It’s the moment we’ve all been waiting for – the first lineup for Electric Picnic 2019 has been announced.The Strokes, Florence and the Machine, Hozier and The 1975 are all headlining the festival.Dermot Kennedy, Billie Eilish, Jess Glynn, Christine and the Queens, Four Tet and Years and Years will also be appearing over the three days.Another exciting announcement was the new addition of a brand new 8,000 capacity mega-stage for electronica and dance music.‘FREETOWN’ will be on the land where the Oscar Wilde Campsite was. Construction will get underway shortly to create a whole new town within the festival.This year the Electric Picnic team used a screen to announce the lineup to stop media leaking names of acts early – in previous years a poster was always used.Tickets for the three day music festival in Stradbally went back on sale on December 3 and they are now gone in record time – around 15 minutes.Such was the demand for tickets back in September that all Early Bird, Loyalty Tickets, Family Camping, Family Campervan and Campervan tickets sold out the day they went on sale. GAA GAA TAGSElectric PicnicElectric Picnic 2019 Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory WhatsApp 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

”Discrimination Based on Money is Worse Than Gender Discrimination” (I)

first_img ”Discrimination Based on Money is Worse Than Gender Discrimination” (I) Analysis & Opinion RELATED ARTICLESMORE FROM AUTHOR Analysis & Opinion [imText1]Daily NK, through in-depth interviews with five female defectors residing in China, got a glimpse of the lives of North Korean women. These are women who defected as early as 10 years ago and as late as the end of last year. From 1997 to 2006, a 10-year range, these women who crossed the Tumen River testified that “in Chosun (North Korea), women’s lives have been completely broken down.” Despite the fact that women lead the significant economic role of overseeing over 90 percent of the family’s livelihood, they have to suffer unfair treatment in the family. But since year 2000, women’s lives have undergone many partial changes. ※ Interviewees– Kim Young Soon (23)—defected in 2003, withdrew from Pyongyang High-Tech University– Ahn Mi Ran (43) – defected in 2003, born in Hoiryeong, North Hamkyung, escaped organ sales– Che Kyung Ja (35)—defected in 1997, born in Hamheung, South Hamkyung, married Korean-Chinese husband– Lee Eun Hee (39)-defected in 2000, born in Shinuiju North Pyongan, worked as a “runner” (broker)– Kang Soon Nhuh (40) – defected in 2002, born in Hyesan Yangkang, escaped organ sales◆ Money decides the lives of North Korean women = The standard that classifies the quality of women’s lives in North Korea is of course money. Even though North Korea is a figurehead “socialist country,” the widening income gap between each citizen strips away such an appearance. If the Party and the high-ranked military leaders who receive a generous provision from the North Korean administration or the up and coming wealthy people, who were able to increase their money through trade, belonged to the upper class, a majority of citizens who depend on provisions or small-scale jangmadang (market) sales are in a situation of having to be content with three meals. Kim Young Soon, who was exposed to many friends with upper-class parents at Pyongyang High-Tech University, said, “There was a daughter of the Party’s high-ranked leader in our class who, before coming to our school, was isolated from regular people and did not know the reality of North Korea very well. She thought most people lived like her.” The daily life of North Korea’s high-ranked, which Ms. Kim relayed, is entirely different from the reality we know. She inserted, “On one hand, I was angry, but amazed, too. In North Korea, the difference between standards of living is bigger than gender discrimination. I cried a lot during my college years.” ”That friend thought everything was according to what she knew, so she would say whatever she wanted to say without reservation. When she went home, she mixed honey, milk powder, and egg yolk to massage her face. She told us stories which were hard for me to understand, such as daily applying a face whitening cream which cost 6,000 won each.””Every Sunday, she would go to a private house with her mother and receive facial massage, a rubdown, and a straight perm. She said that she would eat strawberries in the middle of winter and keep ice cream bought from the foreign market in the refrigerator so she could eat it whenever she wanted. She also told us to eat pig feet to soften the skin. (Laughter) From umbrellas to boots to clothes, she used all foreign goods. She bragged that her mother bought a Korea-made mixer. Before, Japanese-made products were used a lot, but now, they use a lot of Korean-made goods, too.” The standard of living of North Korean upper-class female students, which she relayed, was an extent even shocking to the reporter. “The children of the leaders even get double eye-lid surgery and nose jobs and braces for their teeth. They use all Korea-made make-up. They do not tell us where they got these goods, but I heard in passing that they purchase them illegally. If you use good make-up, your face definitely becomes prettier. Among these students, there was even the unwritten law that they not use products below a certain price.”She said that upper-class students are not content with their current wealth and fervently hunt for a husband in order to participate in an even higher economic rank. “Men who pursued them were sons of foreign exchange stores or university chancellors. They showed me the presents that these men gave, such as leather-bound books and dolls. I asked, “you must be so happy,” to which she replied, “I want to live with a man who is better-off than me.” I asked further, “is this not sufficient to marry him?” and she said, “at this level, I am bound to envy those who are wealthier. I came to college so that I can marry better with my diploma. I want to live abroad.” Compared to that, school life for Ms. Kim, whose parents farmed in the countryside, were tear-filled. She told us, “My parents would send 40,000 won each time from the village, but after paying for books and school fees and meals, I would run out of money. College students cannot think about earning money, because they are restrained by a fixed schedule. However I ended up splitting the money that my parents sent, I could not help but spend it.” ”In college, it was most difficult because of socks. Female students had to wear skirts, but each pair of stocking cost 2,000 won. Even if there are holes, I could not conceive buying a new one, so I wore it stitched up or turned inside out. For shoes, I wore pitiful ones from China and even recycled that. I like ice-cream, but because expensive ice-cream is sweet and makes you want to eat it over and over, I would buy 50 won ones that had saccharine added to ice when I had a craving.” Of these factors, the thing that was most unbearable for her was not ability or performance but the climate of North Korean colleges that one can only earn recognition with money and power. “When exam period came, I studied to death to earn a perfect score. But the daughter of a Party’s leader had a mediocre result on the test, but would receive a perfect score after offering a bribe worth a pack of cigarettes. I could not stand it,” she expressed with vexation. On one hand, Lee Eun Hee, who said she visited Pyongyang many times to do business, explained, “Pyongyang does not just have well-to-do people. The wealthiness of the Party area where party leaders live is a well-known fact, but in the neighborhoods of Sunkyogu or Daesunggu which are made up of single-story houses, most people get by from what they make daily.”Ms. Lee equivocated, “In one of the families I knew, the husband was not working while trying to find a job and the wife was in charge of the home. They could not even receive provisions, so they tried to sustain their livelihoods through jangmadang sales, but it was difficult to even earn 3000 won per day. They had one rice meal a day and the rest, noodles. In that neighborhood, everyone’s situation was about the same, so not even a single family had color TV. Our youngest daughter was in the 3rd grade in high school and always chanted words of hunger. Her father cooked the remainder of the dog meat that the next door neighbor left behind and when I saw them devouring that…” Kim Young Soon, who went to help out at a farm in the Yellow Sea region during college, gave all her clothes upon seeing the miserable situation in the country. “They lived in dilapidated shacks eating corn soup. I closed my eyes seeing people live this way in a region that is famous for being the production center for rice. After farming, all provisions would run out after a month or two due to material costs and military rations. They could not even go to trade anywhere and had to live in starvation.” Because it is such an extremely poor environment, women’s lives cannot even be talked about. “People in the countryside do not even know the word shampoo. When we washed our hair, they would ask us what it is. Because soap is expensive, they would pour lye into sardine oil to make their own soap. When you do laundry with that, your entire clothes smell like sardines. They wash their face with that kind of soap.” Ms. Kim said regretfully, “On the other hand, friends who live well use shampoo-and- conditioner-in-one which is made in Japan. Nowadays, they say they usually use Korean shampoo. If they wash hair with that, the scent lasts long…” (continued) Facebook Twitter Pence Cartoon: “KOR-US Karaoke” Is Nuclear Peace with North Korea Possible? center_img Analysis & Opinion By Yang Jung A – 2007.04.19 11:39pm Tracking the “unidentified yellow substance” being dried out near the Yongbyon Nuclear Center Analysis & Opinion SHARE AvatarYang Jung A last_img read more

Pace of housing starts slows in July

first_img Facebook LinkedIn Twitter Ontario bucked a national trend that saw the pace of construction of new homes slow in July, the Canada Mortgage and Housing Corp. said Friday.CMHC’s seasonally adjusted annualized rate of housing starts fell by 9.6% in July to 222,013, compared with 245,455 in June. dbvirago/123RF Share this article and your comments with peers on social media GTA home sales down 13% between April and May: TRREB However, the decline was smaller than expected and CMHC’s six-month trend rose to 208,970 units from 205,765 units in June.Economists had estimated a seasonally adjusted annualized rate of 203,500, according to financial markets data firm Refinitiv.CMHC said housing starts in urban areas fell by 10.4% in July to 209,122 _ led by a 12% decline in multiple-unit dwellings to 162,722 units. Single detached urban starts fell 4.6% to 46,400 units.Housing starts in rural areas rose 7.9% to a seasonally adjusted annual rate of 12,891 units.The “national trend” in housing starts increased in July, despite the reduced seasonally adjusted number, said Bob Dugan, CMHC’s chief economist, in a statement.“High levels of activity in apartment and row starts in urban centres in recent months continued to be reflected in the high level of the total starts trend in July.”While seasonally adjusted urban starts in the country’s largest province increased 4.2%, they fell elsewhere led by a 43% drop in Atlantic Canada and down 15% in B.C., 9.6% in Alberta and 8.2% in Quebec.July home starts fell five% in Toronto, 23% in Vancouver and 37% in Montreal.After a 25-per-cent surge in June that was the highest level since 1990, housing starts returned to more sustainable levels in July, said Krishen Rangasamy, senior economist with the National Bank of Canada.That’s in line with the bank’s view of Canadian economic growth after a blockbuster second quarter, he wrote in a report.“That’s not to say, however, residential construction is doomed for the rest of 2019. Note that in the last 12 months, there’s been an unusually large gap developing between permit applications and housing starts, perhaps reflecting builder caution amid uncertainties with regards to the economic outlook.”Despite July’s drop, he continues to forecast that housing starts will average roughly 200,000 this year.Sri Thanabalasingam, an economist for TD Economics, said declines across most provinces were more muted than anticipated last month, standing above their year-to-date averages.“These data suggest that while residential investment is slowing, it will remain healthy in Q3,” he wrote.Homebuilding also appears more robust with solid fundamentals such as increasing population, low interest rates and rising wages suggesting that “residential investment could see sustained healthy gains through the second half of this year, he added.But Royce Mendes, senior economist at CIBC World Markets said that after a decent start to the second half of the year, there are still headwinds for the Canadian housing markets.“As a result, following healthy growth in the second quarter, residential construction could cool back down over the final six months of 2019.” Global housing prices rise amid pandemic: BIS Tougher stress tests won’t chill housing market: Scotia Related news Keywords HousingCompanies Canadian Mortgage Housing Corp. Canadian Press last_img read more