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Newpaper24 - Global online News around the World cbf46d26-6af7-11e8-8f2e-7970b9e180c8_image_hires_093035 Xiamen Airways ‘epitome of China’s aviation business’, says Chinese language President Xi Jinping - NEWPAPER24  Newpaper24 - Global online News around the World cbf46d26-6af7-11e8-8f2e-7970b9e180c8_image_hires_093035 Xiamen Airways ‘epitome of China’s aviation business’, says Chinese language President Xi Jinping - NEWPAPER24

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Xiamen Airways ‘epitome of China’s aviation business’, says Chinese language President Xi Jinping – NEWPAPER24

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Xiamen Airways ‘epitome of China’s aviation business’, says Chinese language President Xi Jinping

2018-06-14 03:17:04


Xiamen Airways (XiamenAir) is likely one of the metropolis’s most profitable enterprises. The primary airline in China to function beneath the fashionable enterprise system, it has additionally been praised by President Xi Jinping because the “the epitome of China’s aviation business”.

Established in 1984, XiamenAir has develop into one of many largest airways on the mainland and the most important all-Boeing fleet provider. On Might 22, it took supply of its 200th plane: its first Boeing 737 MAX, which is provided with a number of the newest aviation applied sciences, such because the winglet and a model new engine.

Headquartered in Xiamen, XiamenAir is collectively owned by China Southern Airways (55 per cent), Xiamen Building and Growth Group (34 per cent), and Fujian Funding and Growth Group (11 per cent).

The airline can also be identified for its sturdy monetary efficiency, making income for the previous 31 consecutive years, with its complete property of exceeding 40 billion yuan

With the fast progress of China’s aviation business, the airline elevated its fleet to 100 plane in 2013, and doubled its measurement over the previous 5 years by including about 20 new planes annually. The airline now operates almost 400 home and worldwide routes.

XiamenAir launched its first intercontinental flight between Xiamen and Amsterdam in July 2015, utilizing its first Boeing 787 Dreamliner, adopted the Fuzhou-Sydney flight in November, and Xiamen-Sydney in December. Between 2015 and

2017, the airline launched 10 intercontinental flights to main cities throughout Europe, North America and Oceania, together with Los Angeles, Melbourne, New York, Seattle, Sydney and Vancouver.

The airline can also be identified for its sturdy monetary efficiency, making income for the previous 31 consecutive years, with its complete property of exceeding 40 billion yuan (HK$49 billion). Over the previous 5 years, the airline recorded a mean annual progress of 15 per cent in passenger visitors.

Final 12 months, the airline registered working income of 26.12 billion yuan, up 19.four per cent from a 12 months earlier, with income rising 22.1 per cent to 1.436 billion yuan. In the course of the 12 months, the airline carried 31.eight million passengers, up 17.eight per cent, with passenger load issue reaching 79.9 per cent, up 3.6 proportion factors.



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Sierra Leone: Audit Report 2016 – No Contract Settlement for Erection of Cell Mast On Prime of Youyi Constructing – NEWPAPER24

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Newpaper24 - Global online News around the World 1529493941_aa-logo-rgba-no-text-128x128 Sierra Leone: Audit Report 2016 - No Contract Settlement for Erection of Cell Mast On Prime of Youyi Constructing - NEWPAPER24

Sierra Leone: Audit Report 2016 – No Contract Settlement for Erection of Cell Mast On Prime of Youyi Constructing

2018-06-20 10:34:46


The 2018 Audit Common report has disclosed that there was no contract settlement for the erection of cell corporations’ masts on the roof high of Youyi constructing.

The report notes that 5 cell corporations, together with Airtel, Africell, Sensible, Comium and Datatel all erected their masts on the roof high of the 9 storey constructing with none settlement submitted for audit inspection.

The report additional noticed that solely Sensible Cell Firm made rental fee for its mast within the sum of Le32 million over a four-year interval from 2012 to 2016, including that there was no proof to determine whether or not that quantity was the precise charge that ought to have been paid for the stated interval.

“Though Comium and Datatel cell corporations had ceased operations, their masts weren’t dismantled from the constructing,” the report states.

The Auditor-Common additional really helpful that the skilled head within the Ministry of Works and Infrastructure ought to be sure that these anomalies are corrected with fast impact, and ordered the cell corporations pay their excellent quantities inside 15 days upon receipt of the report.

The report additionally really helpful that the skilled head on the works ministry ought to be sure that Comium and Datatel cell corporations take away their masts from the constructing inside 15 days of the report.

In an official response, the Everlasting Secretary within the Ministry of Works said that they had been involved and that they’ve written letters to the 5 cell corporations inviting them to a gathering to resolve the matter, including that the problem will likely be settled in response to the suggestions.

However quite the opposite, the Auditors commented {that a} copy of the letter written to the cell corporations to satisfy and resolve the matter was not submitted for verification and that the quantities owed by the cell corporations had not been recovered, thus the problem stays unresolved.

The report additionally states that the bodily verification of Youyi Constructing and its environs revealed that there was common breakdown of the elevator within the east wing of the constructing whereas the one on the west wing had been out of use for over a yr with out repairs.

“There was no upkeep contract for the elevators,” the report states, including that stairs and corridors contained in the constructing aren’t correctly saved as cleansing was irregular.

The Auditor-Common’s report really helpful that the Everlasting Secretary ought to be sure that the elevators are repaired to keep away from additional harm, with a upkeep contract developed and signed for the elevators inside 15 days of receipt of the report.

The report additionally recommends that the Everlasting Secretary ought to guarantee common monitoring of the constructing with unannounced visits to test the cleansing standing of Youyi Constructing.

In his official response, the Everlasting Secretary stated: “This was on account of the contract settlement with the current contractor, Mr. Klin, which has expired, and that the Ministry is presently on the procurement course of for the award of one other contract to a profitable bidder which is able to assist to curb the sanitation concern at Youyi Constructing and its environs”.



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Sensex, Nifty rise, snap two days of losses – NEWPAPER24

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Newpaper24 - Global online News around the World 1529491186_ Sensex, Nifty rise, snap two days of losses - NEWPAPER24

Sensex, Nifty rise, snap two days of losses

2018-06-20 10:16:21

(Newpaper24) – Indian shares ended larger on Wednesday regardless of lingering commerce tensions between the USA and China that roiled markets in earlier classes, with index heavyweight Reliance Industries Ltd and monetary shares main the gainers.

A dealer reacts whereas buying and selling at his pc terminal at a inventory brokerage agency in Mumbai, June 29, 2015. Newpaper24/Danish Siddiqui/Recordsdata

The broader NSE Nifty closed up 0.58 % at 10,772.05, whereas the benchmark BSE Sensex ended 0.74 % larger at 35,547.33.

HDFC Financial institution Ltd and Housing Growth Finance Corp Ltd rose for a second straight session, whereas shares of oil-to-telecom conglomerate Reliance Industries hit a report closing excessive.

Reporting by Vishal Sridhar in Bengaluru; Modifying by Biju Dwarakanath

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ECB has misplaced independence in wake of debt disaster: Panicos Demetriades – NEWPAPER24

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Newpaper24 - Global online News around the World 103460402-RTX270P4.1910x1000 ECB has misplaced independence in wake of debt disaster: Panicos Demetriades - NEWPAPER24

ECB has misplaced independence in wake of debt disaster: Panicos Demetriades

2018-06-20 07:44:00


The European Central Financial institution (ECB) has misplaced its independence after gaining further powers following the 2011 sovereign debt disaster, a former member of its Governing Council has instructed CNBC.

authorities over the monetary disaster that then was going down within the nation. Media reviews on the time advised that the Cypriot authorities believed the central financial institution of Cyprus had made errors that led to a banking and subsequent monetary collapse.

Demetriades instructed CNBC that he had acquired dying threats and needed to depart his put up and Cyprus.

Talking with CNBC in a telephone dialog Monday, Demetriades stated: “(ECB) President (Mario) Draghi has made his private mission to do ‘no matter it takes’ to save lots of the euro and he is been according to that. However that is created some unintended penalties, such because the erosion of central financial institution independence, particularly within the periphery.”

In July 2012, Draghi claimed he would do “no matter it takes” to revive the euro zone financial system and save the euro. In keeping with Demetriades, this led to a common notion that governments might do what they wished, and that the ECB can be there to rescue their financial system, it doesn’t matter what.

As a consequence, central financial institution governors — who’re appointed by nationwide governments and have a seat on the ECB desk — would do no matter it takes to guard their nationwide financial system, he stated.

Demetriades added that this erosion of independence “began in Cyprus on account of the unprecedented banking disaster in 2013… and continued in Slovenia and Latvia, extra just lately.”

In 2016, Slovenian authorities investigated the nation’s central financial institution chief Bostjan Jazbec for “legal abuse of workplace” and seized paperwork that contained ECB data. Extra just lately, the central financial institution governor of Latvia, Ilmars Rimsevics, was ousted following allegations of corruption. He claimed he was the sufferer of a concerted marketing campaign by a number of banks.

“It is very telling what occurred to the Latvian governor, if you wish to eliminate your governor, you simply want some critical allegations and you may get it executed over a weekend,” Demetriades instructed CNBC.

“The buildup of further powers within the wake of the disaster, corresponding to financial institution supervision and financial institution decision, that are inherently extra political, has created a backlash in opposition to central financial institution independence.”

The ECB didn’t need to touch upon the problem when contacted by CNBC. However in response to its web site, “the political independence of the ECB is instrument to its major goal of sustaining value stability.”

Europe’s central financial institution was given further powers within the wake of the debt disaster that shook the continent to make sure a stronger monetary stability. These included overseeing the stability sheet of the euro space banks and requesting further capital if wanted.

Arguably, the enlargement of powers has elevated the stress on central bankers, who now should take care of extra than simply guaranteeing the appropriate degree of inflation.

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