FORT SEVERN, Ont. – Paul Burke is chief of the 463-strong Fort Severn First Nation, Ontario’s most northerly community, which is located near the mouth of the Severn River as it empties into Hudson Bay. Burke, 42, opened up in a recent interview about life in the remote community.Tell me a bit about yourself?My father was a Scot who worked for the Hudson Bay company, my mother was Cree. I got hit on both sides from both worlds. I was sent to a Catholic high school of 3,000 students in London, Ont. That’s a lot for a kid to take. I used to be a heavy equipment operator and a carpenter before that.How do you envisage the future for the younger internet generation in Fort Severn?Kids nowadays operate on a New York minute. It’s gotta be now. They want what’s out there. The hard truth is we can’t have that, just because of where we are. I see their frustration. But there is an advantage to the new technology in that we can now do lots of jobs from home, even in Fort Severn. There’s nothing wrong with Fort Severn. There’s nothing wrong with living out here.What do you say to those Canadians who complain Indigenous people freeload off their taxes?Screw you, buddy. We gave up a lot, and it wasn’t voluntarily either. We wouldn’t live in houses like that if we actually had our fair share. It’s just like crumbs from the table. ‘Here you go and shut up.’ (But) people have no idea what goes on. Urbanites have no idea about daily life here. All the negative things overshadow all of the good things. You don’t hear the success stories.You are adamant that Indigenous people in communities such as Fort Severn need to become self-sustaining. Why?All the communities are stuck in a rut. I hate the idea of standing with your hand out. I want to break that dependency. You can’t make a long-term plan if you’re asking for money all the time. We know what our problems are, let us fix them ourselves. That’s how you fix the ‘Indian problem.’ The mentality is changing out there. I want to capitalize on that.Do you think you’re succeeding?My aim as chief is to impose financial discipline and make decisions for the entire community. The proportion of people on social assistance here is the lowest ever. I’m trying to ensure at least one or two earners per family. Our $2.5-million solar project is about 40 per cent complete. Fort Severn is capable of leading a project of this scale. My goal is to make our generators go quiet. I also want to encourage small-scale eco-tourism: groups of six to eight people, maybe 30 groups a year.The interview has been edited and condensed.
APTN National NewsThere are concerns that a Vancouver program meant to help prevent violence among youth is being cut because of federal budget cuts.The national program aimed at re-connecting aboriginal youth with cultural and artistic activities was recently cut in the federal budget.APTN’s Tina House tell’s us many are concerned about what that will mean for those kids who are considered at high risk and vulnerable.
Zamira Hajiyeva is subject to the first unexplained wealth orderCredit:east2west news Documents lodged at the High Court stated: “The NCA’s enquiries have not identified evidence which otherwise suggests (contrary to Home Office records) that R1 [Mrs Hajiyev] has been a succcessful businesswoman or entreoreneur in her own right or that she has received significant income from other sources.”The document went on: “There are no grounds to suspect that any income originating from Mr Hajiyev was not lawfully obtained.”Details of her lavish spending habits, which were laid bare in the court process, revealed that she had spent £16.3 million at Harrods between 2006 and 2016.NCA investigators claimed she had used 35 different credit cards issued by her husband’s bank to fund shopping sprees and on one occasion had spent £150,000 on jewellery. In a statement they said: “The decision of the High Court upholding the grant of an Unexplained Wealth Order against Zamira Hajiyeva does not and should not be taken to imply any wrongdoing, whether on her part or that of her husband.”The NCA’s case is that the UWO is part of an investigative process, not a criminal procedure, and it does not involve the finding of any criminal offence.”Donald Toon, the director for economic crime at the NCA, said: “The NCA fully supports an open and transparent justice system that helps demonstrate our determination to ensure that the UK is not seen as a soft target for the investment of illicit finance.”Where we cannot determine a legitimate source for the funds used to purchase assets and prime property it is absolutely right that we ask probing questions to uncover their origin.“Unexplained wealth orders have the potential to significantly reduce the appeal of the UK as a destination for illicit income. Zamira Hajiyeva spent £16 million in HarrodsCredit:Moritz Wolf The woman at the centre of a McMafia style financial investigation, who spent more than £16 million at Harrods, can be revealed as Zamira Hajiyeva – the wife of a jailed Azerbaijani banker.The 55-year-old, who has lived in Knightsbridge, London, for more than a decade, is the subject of the UK’s first unexplained wealth order (UWO), amid allegations that she used stolen money to fund her lavish lifestyle.As well as spending more than £16 million in the Harrods department store over a ten year period, Mrs Hajiyeva owns a five bedroom house worth £15 million and also bought the Mill Ride golf and country club in Ascot for £10.5 million.Her husband, Jahangir Hajiyev, is the former chairman of the state-owned International Bank of Azerbaijan, who was sentenced to 15 years in jail in 2016 for defrauding the bank out £2.2billion.Her identity had been shrouded in mystery after the courts agreed to protect her anonymity throughout the UWO process.But following a challenge by the Telegraph and other media organisations, the Court of Appeal agreed to lift the cloak of secrecy.The National Crime Agency alleges that Mrs Hajiyev used fraudulent funds to purchase her home which is just a short walk from the famous Harrods department store. But her lawyers have argued that her husband was a legitimate businessman, whose wealth was the result of a number of shrewd business deals.They also argued that she could not be described as a “politically exposed person”, as required by the UWO, and that her husband’s role had been misrepresented. Official records also revealed Mrs Hajiyev owned two dedicated bays within the private Harrods car park.The court also heard that Mrs Hajiyeva owned a £35 million private jet and a wine cellar stocked with some of the world’s most expensive vintages.She had made an unsuccessful application to discharge the UWO, but her lawyers are appealing that judgment.Mr Justice Supperstone has ordered that Hajiyeva must comply with the UWO and explain how she came upon the funds used to fund the property purchases. Zamira Hajiyeva’s home is a short walk from HarrodsCredit:Paul Grover “They enable the UK to more effectively target the problem of money laundering through prime real estate in London and across the UK, and we will now seek to move further cases to the high court.” It was alleged that she paid a deposit of £4 million for the house in 2009 and had cleared her £7.4 million mortgage in just five years. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings.
A separate infection was found at the Queen Elizabeth University HospitalCredit:PA A spokesman for the health board said: “As previously reported, we have been rigorously managing a number of cases of a rare Staphylococcus aureus blood stream infection in extremely premature babies in the neonatal unit of the Princess Royal Maternity Hospital. A third premature baby has died at a hospital in Glasgow after a rare infection was found at a neonatal unit.An incident team was set up earlier this year to investigate three cases of the Staphylococcus aureus blood stream infection at the Prince Royal Maternity Hospital, following the deaths of two premature babies.The third baby has not been identified, although the health board confirmed that the “staph” infection was a contributing factor in the death.Experts admitted in February, following the deaths of two premature babies, with a third baby said to be in “stable” condition, that the source of the infection may never be found.The deaths were revealed days after a separate infection, linked to pigeon droppings, was named as a contributory factor in the deaths of two patients, including a schoolboy, at the city’s Queen Elizabeth University Hospital (QEUH).There have now been seven deaths in the NHS Greater Glasgow and Clyde area since January after patients picked up hospital-acquired infections. Alex Cole-Hamilton, Scottish Liberal Democrat health spokesman, said patients would understandably be worried about a “flurry of infection reports” in recent months.He added that Jeane Freeman, the Health Minister, must establish how the infections occurred and share that information with other NHS bodies. The blood stream infection can be passed through skin to skin contact. The bacteria is commonly found on human skin and in the upper respiratory tract, without causing any problems.Monica Lennon, Labour’s health spokesman, said the death of a third baby was “extremely sad” and the health board must be “transparent” about infections when patients have died.She added: “The Health Secretary must reassure the public and NHS staff that she has all the facts and is doing everything possible to improve infection control and safety in all of Scotland’s hospitals.” “Three babies, who were extremely poorly due to their very early birth, sadly died and infection was one of a number of contributing causes in their deaths.”Since early March, no further patients have tested positive for the Staphylococcus aureus infection.”A programme of staff and family screening was carried out, as has been previously reported. This was one of a number of steps taken to respond to this strain of Staphyloccocus aureus.”As this was an extremely rare strain which is highly resistant to the two antibiotics normally prescribed for S. Aureus, and the skin cleaning agent routinely used in hospitals across the UK, we put in place a number of further infection control measures, including the prescribing of different antibiotics and the introduction of a new skin cleaning agent.” The Health Minister Jean Freeman was urged to reassure the public that everything possible was being doneCredit:Corbis Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily Front Page newsletter and new audio briefings.
Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedAlleged mastermind in murder of elderly women arrestedOctober 8, 2017In “Crime”Anti – smuggling squad members in custody for shooting death of LabourerJuly 5, 2015In “Crime”Three men shot dead in T&T for their shoesJune 20, 2017In “latest news” (Trinidad Express) Just over a decade after his older brother was fatally shot, 16-year-old Mikeel Caesar suffered a similar fate.Mikeel CaesarCaesar was one of two persons who were shot on Monday afternoon at Plaisance Road, Laventille and he succumbed that night.According to police reports, at about 1.30 p.m. on Monday, Caesar, a pupil of the Servol Regional Training and Resource Centre, was liming with a group, which included 48-year-old Stephen La Rosa, when a white Hyundai Elantra vehicle pulled up alongside them.Several shots were fired by a man in the passenger seat of the vehicle, which then sped off. It was found about 30 minutes later along Pashley Street, Laventille with several spent shells inside.Caesar and La Rosa were rushed to Port of Spain General Hospital, where they were treated, but Caesar died at about 10 p.m. on Monday.La Rosa was shot in his left leg and was in a serious but stable condition.Speaking to the Express on Tuesday, Caesar’s mother, Ann Williams, said that her son was a hard-working and loving individual, and the family was struggling to come to terms with the incident.She said the teenager was originally from Morvant, but was recently living with his family in John John. She said, he was studying to be a mechanic. Caesar, Williams said, had two other siblings. She recalled that ten years ago, Caesar lost his older sibling under similar circumstances. Kevin Miguel Williams was shot dead on April 17, 2008.Williams, of Plaisance Road, Laventille, was shot dead while working at the “Plannings”, just off Old St Joseph Road, Laventille.In 2016, Hakim Brathwaite, of Foster Cuevado, Picton in Laventille, was sentenced to death for Williams’ murder.
Lee Vine, Managing Director of Integrated Pump Rental, cautions that dealing with dewatering activities is not as simple as merely purchasing or renting a pump. Unless there is effective groundwater control, even the best run sites could become hindered by expensive and challenging problems. This will not only cause program delays but could also have an adverse effect on health and safety.“It is essential that contractors deal with a supplier that understands dewatering applications and is able to provide the correct level of technical assistance as this will ensure that the most efficient method of dewatering is selected for a specific site,” Vine says.Integrated Pump Rental is responsible for marketing the Sykes range of dewatering pumps in southern Africa. Vine says these pumps have an established reputation for the fast and effective control and removal of sub-surface water.Sykes pumps are designed to offer robust and reliable performance and can handle high volumes of water with ease. The Sykes Primax Contractors Range of diesel driven pumps offers reliable dewatering coupled with cost efficiency. These are fully automatic priming pumps and can run dry for extended periods due to the oil bath mechanical seal assembly. This allows priming with long suction hoses and suction lifts of up to 9 m.Vine explains that as suction levels fluctuate, the pump will “snore” until the liquid is available for the pump to fully reprime itself automatically.Constructed using quality materials, the pumps are fitted with a 316 SS impeller and wear plates as standard. The pumps are capable of handling solids up to 90 mm.Vine says that Integrated Pump Rental is achieving successes across Africa with the Sykes brand and he attributes this to his team’s understanding of pumping application requirements and the Sykes pumps’ ability to meet the harsh operating conditions on the continent.
RK Metalurg have made the one of the biggest success in the sports history of Macedonia by beating FC Barcelona 31:29 (15:11). Barca have lost the first match in this season, at the same place where Spanish champion lost point at the beginning of the EHF CL campaign against Vardar. Lino Červar prepared perfectly his team for the battle with Spanish and European handball giant. Metalurg had +5 in 53rd minute (26:21), but Barca managed to get back in the match and put home team under pressure in front of 7.000 fans.At the end with one player less on the court, Georgievski scored the winning goal 20 seconds until last whistle for a big celebration – 31:29…firstname.lastname@example.org ← Previous Story Zagreb’s anger on Veszprem: No fair play in Harkov – Handball anti-propaganda! Next Story → Kielce smash Wisla at the end! barcelona hdnabllEHF CLhandballRK Metalurg
If we were able to somehow pull a technology journalist from 1999 into the present day, this poor soul would be unable to believe Apple was still in business, let alone that it was the most valuable company of all time. Yes, you read that right. Apple is now worth more than any other company has ever been worth. It turns out people really like iPhones.Apple is now worth over $623 billion, which is just a little more than the previous record of $620 billion. That record was from 1999, and it was set by none other than Microsoft. It’s also worth noting that 1999 was in the middle of the tech bubble when almost all stocks were overinflated.In the late ‘90s, Apple was floundering after allowing its software to stagnate. A succession of throwaway CEOs were brought in in an effort to reclaim the glory Apple enjoyed in the ‘80s. As it happens, all Apple needed was to bring a little bit of the ‘80s back to the boardroom. Steve Jobs came back on board after building Pixar and started trying to salvage the company he founded.Jobs could be prickly and aggressive, but the products he wanted to make were made. Sometimes that meant a failure like the Mac G4 Cube, but other times it was an iPhone. Products like the iMac, iPod, iPhone, and iPad have catapulted Apple’s stock price into the stratosphere. At the same time tech companies like Facebook and Groupon are faltering in a big way.Rumors indicate that Apple is preparing to launch a new version of the iPad with a smaller 7-8-inch screen to compete with Amazon and Google. This will be the first major launch since Steve Jobs’ death, but the markets are clearly optimistic that Apple has been forever imbued with the ethos of Jobs.via Reuters
Stay on target Scientists Discover a New Way Volcanoes FormWorld’s Longest Salt Cave Discovered in Israel For quite some time, humans have been mystified by the possibility of worlds beneath our feet. That is what makes Tolkien (and Tolkien-inspired) dwarves so compelling. Their curiosity is natural. If you’re there, might as well explore and see what the depths hold. And, for the first time, a team of scientists has mapped a sizable chunk of what lies just under our planet’s surface.In what has been dubbed the “Atlas of the Underworld,” the team has studied and documented the movement and history of the tectonic plates. For those that don’t recall their sixth grade science classes, the Earth’s surface is made up of dozens of giant slabs of rock that sort of float on top of the liquid-ish mantle — a massive region of molten rock that separates the crust (where we, and all of our pretty stuff sits) from the core of the planet. Because the mantle churns and twists, these plates of rock get slid around all over. When they collide, we get earthquakes and mountains. When one gets pushed under another, we can get volcanoes. Because of that, and because of how important our understanding of these slabs is to our knowledge of Earth’s broader history, the team has now published a paper in the journal Tectonophysics describing their findings.“Now we can trace not only how plates move over the surface, but how they sink to the core-mantle boundary,” Douwe van Hinsbergen, an associate professor of theoretical geophysics at the University of Utrecht, told Gizmodo. “That’s the cool thing for me—we can learn about the physics inside the Earth.”The Atlas took more than 17 years to compile, and has been assembled from countless records and studies all over. Collectively, though, it uses data tacked from subterranean sonar — the same type of tech used in submarine scanners — to essentially listen as sound waves traveled through the earth. Then, as the waves hit different types of rock, researchers could tell what those regions were composed of, based on how much the original sound wave changed.This, for the first time, allowed them to show that plates pushed under the crust can stretch more than a thousand miles below before they melt. This is fascinating, particularly because it allows us to trace certain kinds of geological activity back even further. Melted rock is harder to study — it’d get churned up and lost in that liquid, underground soup of stone. But solid pieces allow us to walk to clock back.The Atlas shows, for example, the history of the Bitterroot plate, which sets about a hundred miles below Washington State. Because of its positioning, researchers were able to connect it to a burst of volcanic activity about 50 million years ago. Plus, it’s kind of amazing that after so long, enough of the plate remains notable un-meltified so that we can observe it.“If you look at the first world atlas in the 16th century, that was a pretty good job but it looks different from our atlas today,” van Hinsbergen told Gizmodo. “I think it will look a bit different in 10 or 20 years. We’ll probably find slabs here and there.”Let us know what you like about Geek by taking our survey.
At the Feb. 7 Board of Clark County Commissioners meeting, giddy members of the Aging Readiness Task Force celebrated the approval of the Clark County Aging Readiness Plan and encouraged commissioners to let them form a Clark County Commission on Aging.Buoyed by their work on the task force, the volunteers wanted to keep doing their part to help implement a plan for accommodating the “silver tsunami” of Baby Boomers.Sure! commissioners said. Why not? The county already has a youth commission, Commissioner Steve Stuart said. Why not a commission for non-youth?On Feb. 8, commissioners heard one reason why not.During a work session on the county’s “reconfiguration” efforts to bring revenues in line with expenses, commissioners were reminded that while enthusiastic volunteers might want to put in their time for free, there’s still a cost.Environmental Services Director Kevin Gray and Karen Streeter, an Environmental Services manager, gave a presentation titled: “Evaluating Functionality and Effectiveness of Commissions, Advisory Boards and Technical Advisory Committees.”Gray and Streeter are on a team of eight county employees tasked to identify regulatory processes that, if adjusted, could save the county significant money.
Tuckerman Babcock, of Soldotna, is the new chairman of the Alaska Republican Party.Tuckerman Babcock, a long-time Republican strategist and former aide to Gov. Wally Hickel, is the new chairman of the Alaska Republican Party.Babcock won the spot at the state GOP convention in Fairbanks today. He beat Fairbanks attorney Ann Brown.Convention participants also changed party rules to end the term of the prior chair, Peter Goldberg, at the end of the convention, this afternoon. That means Babcock will be a delegate to the National Republican Convention in Cleveland in July.Goldberg, though, still gets to be a delegate to Cleveland, because he won another office: National Committeeman. That officeholder is also an automatic national delegate. (The term doesn’t start right away, but outgoing national committeeman Ralph Seekins agreed to step aside early.)Babcock will go to the convention in Cleveland as a delegate for former candidate Marco Rubio. (Per state party rules, the five Rubio delegates will be the first among the Alaskans to be “unbound” and free to vote their will.) Babcock says he’s not sure whether he’ll ultimately vote for Ted Cruz or Donald Trump, but he says he will not support an alternate candidate.Babcock is a 1978 graduate of Anchorage’s Steller Alternative High School. He is also the son-in-law of former state senator Lyda Green of Wasilla.
New Delhi: Punjab Chief Minister Amarinder Singh on Thursday urged Union Road Transport and Highways Minister Nitin Gadkari Minister to clear the ring road projects in the state’s major cities. He also sought early release of the third instalment of the Rs 3.72 crore grant for the Mohali Hitech Metal Cluster and implementation of SFURTI in Hoshiarpur, an official spokesperson said. Also Read – National Herald case: Officer bearers of Congress were cheats, Subramanian Swamy tells court Advertise With Us Calling on Gadkari here, Amarinder Singh sought his intervention to clear the state’s pending projects and approvals under his department, and also invited him to visit the state to help revive the micro, small and medium enterprises. Gadkari assured the Chief Minister that all issues related to the state pending with his ministries would be looked into and addressed at the earliest. Also Read – Dehydrated elephant being given treatment Advertise With Us According to the spokesperson, Amarinder Singh informed the Minister that the state had already conveyed its consent to bear 50 per cent cost of land acquisition for construction of ring roads around major cities of Mohali, Chandigarh, Ludhiana, Jalandhar, Patiala, Sangrur and Bathinda. The ministry had already approved the ring road around Bathinda, he added. Advertise With Us The Chief Minister also sought the Union Ministry’s approval of funds to the tune of Rs 636.45 lakh for appointment of technical consultants for the ring roads project to work out the alignments needed for the roads. Amarinder Singh also urged Gadkari to facilitate expeditious clearance of the Delhi-Amritsar-Katra Expressway project, for which the Union government has already approved under the plan for constructing 800 km of expressways under the Bharatmala Scheme Phase-I. The state had requested the ministry time and again for early start of this project but so far even the alignment has not been frozen upon, he lamented. The Chief Minister said under the Micro and Small Enterprises Cluster Development Programme, due to increase in cost of setting up of Common Facility Centres, the grant should be increased to Rs 20 crore per centre and also the mandatory 10 per cent share of the state government may not be insisted upon.
Kolkata: A youth identified as Asif Gazi (35) was hacked to death by a woman on Tuesday morning at Bashirhat in North 24-Parganas.The woman and her two associates were reportedly beaten up by local residents before they were handed over to the police. According to sources, the woman identified as Maruva Bibi lives at Matia in Bashirhat. Her husband Azizul Dafadar, who is a cook, lived in Kolkata. Bibi claimed that Gazi was a Bangladeshi resident and he worked in a local bheri. Also Read – Rs 13,000 crore investment to provide 2 lakh jobs: MamataShe said he frequently disturbed her as he knew that her husband lived in Kolkata most of the time. She further said Gazi told her to leave her husband and get intimate with him. Dafadar’s mother claimed that her son and daughter-in-law used to reside in a house near her home. When Dafadar used to leave home for work, Gazi used to visit her with an intention to have physical relationship with her. On Tuesday morning, Bibi along with Dafadar and one of his friend arrived at Kholapota More in Bashirhat on a bike where Gazi was having tea at a roadside tea stall. Also Read – Lightning kills 8, injures 16 in stateBibi went to Gazi and started interacting with him. After a few minutes, she allegedly started slapping him. When Gazi tried to defend, Bibi took out a knife and started stabbing him. Local residents rushed to stop Bibi from attacking Gazi and managed to nab all three of them and snatch the knife. Gazi was declared brought dead after he was rushed to a local hospital. Bibi and her two associates were manhandled by the local residents. The trio was assaulted in front of the police. Later, three of them were arrested. It is suspected that Bibi stabbed Gazi as he harassed her. Cops are trying to find if there is some other angle in the case.
Source = Park Hotel Group Park Hotel group debuts first Destination hotelPark Hotel group debuts first Destination hotelDestination Singapore Beach Road is Park Hotel Group’s first Destination hotel under its third and latest brand. As a select service midscale brand, Destination hotels will focus on quality and affordable accommodation in prime, central locations.Stylish yet comfortable, affordable yet authentic; these are the hallmarks of the Destination brand that panders to savvy business and leisure travellers who appreciate value, efficiency and independence. Each Destination hotel is designed to fulfil just that; by placing guests at the centre of their destination and empowering them with the freedom to plan their city stay while offering what matters to them most at the best value.“We are extremely proud of our very first Destination hotel which is also the Group’s sixth hotel in Singapore. The brand fills a gap in the midscale category especially in Asia where customers are looking for a high-quality, contemporary, consistent and fresh experience at a great value for customers, while at the same time delivering strong returns to our owners.” said Mr Allen Law, Chief Executive Officer of Park Hotel Group.Destination Singapore Beach Road is the perfect launch pad to exploring major business, entertainment and shopping hubs such as the Central Business District(CBD), South Beach Avenue, Bugis Junction and the Singapore Sports Hub. A short stroll from Nicoll Highway MRT Station and just next to Golden Mile Complex, the hotel is also close to the eclectic charms of Arab Street’s heritage buildings, restaurants and shops.Accommodation comes in the form of 300 Queen, Twin, Triple, Family and Accessible rooms. Featuring key offerings such as complimentary Wi-Fi, an invigorating rain shower, and handcrafted mattresses from renowned British brand Hypnos, the rooms are functional, fuss-free and offer all that guests need for a good night’s rest. The Family rooms, equipped with a queen-sized bed, comfy pull out bed and a sofa bed can accommodate up to 2 adults and 2 children without having to sleep on rollaways.If food is the best way to learn about a city and its culture, then dining at Folklore, located on Level 2 of the hotel, would not disappoint. Embodying the best of Singapore heritage cuisine, diners will be able to savour robust flavours of local cuisine incorporating Chinese, Malay, Indian, Eurasian and Peranakan.Other facilities include a rooftop swimming pool with panoramic views of Singapore’s breath-taking cityscape.
By Angelos AnastasiouIN A DRAMATIC last-minute intervention last November, reminiscent of plot twists found in Hollywood dramas, a highly profitable gaming company doled out €40 million to buy a 30 per cent ownership stake in the then-undercapitalised Hellenic Bank.On the face of it, internet gaming companies, no matter how successful, and banks make for peculiar bed fellows.Buying a bank is no simple task, not least because it’s an expensive sport, nor because running one is hard, tricky business.As banks pose systemic risks to national – and even regional – economies, whoever wants to control them is heavily scrutinised, closely monitored and tightly regulated by competent authorities.Entities buying banks typically fit a standard profile, which usually includes prior involvement in money markets or financial industries.World of Tanks is one of Wargaming.net’s most popular gamesWargaming.net is an international online gaming developer, created by Belarus-born founder and CEO Victor Kislyi in 1998, registered and headquartered in Cyprus that has seen huge success over the years.As suggested by its name, the publisher focuses on a series of war scenarios in which over 70 million gamers – as of 2013 – are challenged to make use of their military strategy prowess in order to progress through a series of levels.The Massive Assault franchise was the company’s ticket to the big league, and World of Tanks heralded its entrance to the gaming elite. It currently employs over 2,000 employees globally, and 2012 profits exceeded €6 million.“Wargaming considers Hellenic Bank a very good investment opportunity,” director Vangelis Georgiou told local press back in November, explaining that the gaming giant had been seeking a strategic partnership with a banking institution in Cyprus or abroad because its registered users pay for their gaming subscriptions through their bank accounts.But if it had been looking to buy a bank, the world never realised.When Wargaming made its move to enter Hellenic, the first eyebrows were raised not because of the company’s apparently dissonant area of activities, but because it was made at the eleventh hour, helping yank the lender back from the brink of nationalisation.Earlier, an offer by American hedge fund Third Point had been made for a stake in Hellenic – €40 million for 30 per cent.By itself, this would have significantly diluted existing shareholders’ holdings and grant the Americans major shareholder status – they would effectively run the bank. But in a surprising twist, two local entities promptly joined in to counter balance the distribution of ownership.Demetra Investments, a local investment vehicle mostly owned by the now state-owned network of co-operative banks, offered €20 million for 15 per cent, and Wargaming put down double – matching Third Point’s offer.All three bids were accepted by Hellenic, and the lender’s shareholding map reflected the development.A serious investment by a foreign entity would normally be hailed as excellent news, but Cypriot media instead seemed to focus on the dilution of the Cyprus church’s stake in Hellenic. The church, previously the biggest shareholder, has long had a strong grip on the bank.Archbishop Chrysostomos was eager to keep Hellenic Bank in Cypriot handsFollowing the dramatic developments, some were quick to turn their eye to Archbishop Chrysostomos, whose business prowess has often been cited as one of the reasons Hellenic never found itself in the deep, like the two major banks that had caused the banking system to implode.It had not been in need for a government bailout, it had never tapped Central Bank-provided emergency funding, nor had its depositors been forced to participate in its recapitalisation via ‘haircuts’ or otherwise.“Following extensive research, we have found that Hellenic Bank was the best option because it has not had to resort to the government for capital, nor seize deposits for recapitalisation,” Georgiou said. “The bank’s strong brand in the Cyprus market was considered, and we believe it has significant potential, given that its basic shareholders hold large liquidity reserves and are able to support its needs.”Shrewd businessman and religiously prudent as he may be, Chrysostomos had also voiced another concern in the past, relating to Hellenic.To him, it seemed that the bank remaining in “Cypriot hands” was of the utmost importance, and because it was registered in Cyprus, Wargaming could be considered a local entity.“The church’s first and foremost concern is that Hellenic is saved, and that it remains in Cypriot hands,” he told the press a few days before the recapitalisation offers were made.Though the archbishop seems significantly predisposed to self-aggrandising soliloquies – as in an earlier 2013 interview, when he had claimed that he single-handedly threatened Laiki Bank’s then-reigning boss Andreas Vgenopoulos away from buying up Bank of Cyprus and Hellenic Bank – the suspicion that he orchestrated counter-offers by Cypriot companies in order to neutralise a New York hedge fund from seizing control of a local bank may not be all too unlikely.But the archbishopric’s continuing serious cash-flow problems are no secret, even alluded to by its leader himself in recent public statements.Earlier this month, Third Point sought to tap the archbishopric’s holdings in Hellenic’s convertible bonds – approximately €24 million. Chrysostomos had no choice.He surrendered about a third of the bonds, helping Third Point raise its stake in the lender even further.The religious leader’s wheeling and dealing aside, a separate issue has been raised by commentators.While Wargaming has been reported as “actively participating” in various fundraisers organised by the archbishopric, indicating at least some ties, its board of directors shares members with Demetra’s board.The investment vehicle’s chairman, Nikos Michaelas, also sits on Wargaming’s board, while Georgiou has served on Demetra’s board. This, commentators argue, could be an indicator that the two entities’ decision to enter Hellenic may not have been made independently and on purely financial grounds.The decision to appoint chartered accountant Irena Georgiades – former senior aide to Finance Minister Harris Georgiades since his days as a deputy, until her appointment as Public Service Reform Commissioner a couple of months earlier – at the bank’s helm raised suspicions of political entanglements.Opposition parties voiced concern over her political past at the finance minister’s side, implying insider knowledge and influence. It is rumoured that Georgiades was Wargaming’s pick, with all other key players giving the nod, but all appointments to the board had to be approved by the Central Bank.In a news conference on Wednesday, Central Bank governor Chrystalla Georghadji confirmed that the vetting process on Hellenic’s new board had been completed and decisions were taken, declining to reveal what they were until “interested parties” had been notified.In the meantime, Wargaming is one of the very few organisations in Cyprus that has defied the economic downturn, increasing its operations and hiring staff throughout the crisis period. It has recently also acquired and moved into brand new – and impressively futuristic – office space in Nicosia.“This is a Cypriot company, with presence in 17 countries,” Georgiou said. “Following March 15 [of 2013] we did not reduce our presence, but further expanded our activities and hired new staff.”You May LikeLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoGundry MD PrebioThrive Probiotic SupplementCardiologist: This Is What Happens When You Eat GlutenGundry MD PrebioThrive Probiotic SupplementUndo Pensioner dies after crash on Paphos-Polis roadUndoCruise passenger airlifted to Paphos hospitalUndoRemand for pair in alleged property fraud (Updated)Undoby Taboolaby Taboola
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Trump publicly waded into the debate spawned by a new book, suggesting that the protein produced by the gene inhibits more complex brain development in humans as well as in mice. "With one full year of data and two partial years, yet they are contesting on all the seats in order to divide the non-CPM votes. Osomalla-Ogwuikpere road had brought a new lease of life to the area and enhanced movement from the area to other parts of the State as well as boost socio-economic activities. "The investigation is in progress. the selection pressure was as great as that for other genes known to be very strongly selected in humans, Minnesota’s minimum wage was $1. within days they found themselves appearing before a court in Ahmedabad in a 100-crore defamation case.com.
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