Debt Instrument – HHQH http://hhqh.net/ Sat, 27 Nov 2021 05:53:55 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://hhqh.net/wp-content/uploads/2021/07/icon-2-150x150.png Debt Instrument – HHQH http://hhqh.net/ 32 32 Young entrepreneurs https://hhqh.net/young-entrepreneurs/ Sat, 27 Nov 2021 05:53:55 +0000 https://hhqh.net/young-entrepreneurs/ By Matilda Dibakwane, Chief of Staff for the Anzisha Prize FACT: Access to finance is difficult for any entrepreneur. This is especially difficult if you are very young, with deep credibility and trust factors at play. According to Dr Adesina Akinwunmi, Executive Director of the African Development Bank Group, “young people face many institutional obstacles. […]]]>

By Matilda Dibakwane, Chief of Staff for the Anzisha Prize

FACT: Access to finance is difficult for any entrepreneur. This is especially difficult if you are very young, with deep credibility and trust factors at play. According to Dr Adesina Akinwunmi, Executive Director of the African Development Bank Group, “young people face many institutional obstacles. when looking for financing for their businesses. Often times, funding comes a bit too late, especially in today’s turbulent economic conditions. ”

The Young Entrepreneur Fund established by the Anzisha Prize is a “guaranteed follow-up” fund that will match investments in businesses led by pre-approved graduates of African Leadership Academy programs. This fund is designed to incentivize investments in young entrepreneurs in Africa through an innovative debt instrument linked to income.

In creating the Young Entrepreneur’s Fund, the program intended to design an “age-appropriate” funding model with the following five key characteristics:

  1. Simple Design – We opted for a rules-based debt instrument designed to be easy to understand, coupled with legal agreements with minimal fuss.
  2. Operate on “the borrowed trust” – the Fund issues a letter of guarantee to give credibility to the young entrepreneur that he can use to “seek out” for financing. This letter of guarantee is issued to high potential and pre-approved graduates of African Leadership Academy programs and guarantees that the fund will match any co-investment up to $ 50,000.
  3. This income-linked fund is designed to be flexible, as the entrepreneur is not required to make repayments in months when there is no income. Conversely, the entrepreneur pays at least 5% of the income generated in the months when the income increases.
  4. Structured exists: The Fund intended to offer a debt instrument as we did not want to tackle the complexities of valuing companies for equity transactions. Additionally, we found discussions about cash flow and debt servicing to be more useful for early career entrepreneurs.
  5. It takes a village: through collaborations within the ecosystem, aim to provide business start-up support beyond funding to improve the success rate of young entrepreneurs.

One of the beneficiaries of the YEF fund is Andrew Mupuya of YELI Papers who used the funding to build his own manufacturing warehouse. YELI is the first local paper bag and envelope production company in Uganda. His business has grown and employs 22 people. Its customer base includes local hospitals, retail stores, roadside vendors, supermarkets and large local flour manufacturing companies. In addition to running his growing business, Andrew found time to train over 500 people, mostly young people, in making paper bags through which 16 other projects were set up.

With this modest fund, we hope to help minimize the red tape faced by young entrepreneurs in seeking funding. Navigating the fundraising field has not been easy. However, we are determined to continue to fail.

Lessons learned from the creation of the Fund will be shared openly to help other leadership and educational institutions launch similar alumni funds. It is important to note that this is a call for potential investors to contact us by supporting one of our pre-approved candidates. Funding is currently only available to Anzisha Fellows and African Leadership Academy alumni.

This pioneering access to finance was made possible by Imaginable Futures and is managed by the Anzisha Prize. To find out more, visit anzisha.info/investors


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Alexandra Oliver-Dávila on Latino visibility in Boston, opening of the recently renovated Sociedad Latina hub https://hhqh.net/alexandra-oliver-davila-on-latino-visibility-in-boston-opening-of-the-recently-renovated-sociedad-latina-hub/ Fri, 19 Nov 2021 18:09:10 +0000 https://hhqh.net/alexandra-oliver-davila-on-latino-visibility-in-boston-opening-of-the-recently-renovated-sociedad-latina-hub/ There is a three-story brick building at 1530 Tremont St. that the Latin community of South Boston has called home for the past 50 years. Sociedad Latina, a non-profit organization, originally founded as a drop-in center for Boston’s Latino community has become an exceptional hub for youth development and civic engagement. A view of rue […]]]>

There is a three-story brick building at 1530 Tremont St. that the Latin community of South Boston has called home for the past 50 years. Sociedad Latina, a non-profit organization, originally founded as a drop-in center for Boston’s Latino community has become an exceptional hub for youth development and civic engagement.

A view of rue de la Sociedad Latina located at 1530 rue Tremont (Photo: Alessandro Clemente)

On Thursday, October 14, Sociedad Latina celebrated the end of National Hispanic Heritage Month in the backyard of the Tobin Community Center in Mission Hill, a short walk from the newly renovated Sociedad Latina building. A successful fundraising campaign has enabled the organization to finally buy its long-term location and fund a complete renovation that will expand the reach of Sociedad Latina’s positive youth development programs.

“Our young people deserve to have a state-of-the-art space and a beautiful place,” said Alexandra Oliver-Dávila, Executive Director of Sociedad Latina. “We are really excited to be able to continue the work we do with young people and to focus on optimizing our programs. “

Oliver-Dávila, with more than 20 years of active involvement in the Latin community life of Boston, led the exceptional growth of the Sociedad Latina and expanded its network of partnerships which today promotes the professional and educational development of young Latinos. from Boston. His engagement has garnered several nominations on the Powermeter 100 of El Planeta’s Most Powerful People for Latinos in Massachusetts. She discussed the success of Sociedad Latina and the struggles of Boston’s Latin community with Alessandro Clemente of Northeastern.

The Scope spoke with Oliver-Dávila to learn more about Sociedad Latina’s mission and the issues facing the Latin community in Boston. The following conversation has been edited for length and clarity.

Photo: courtesy of Sociedad Latina

Can you present to our readers the Sociedad Latina, its mission and its evolution in recent years?

It was founded in 1968 in South Boston, and it was originally primarily a Puerto Rican welcome center hosting softball leagues and social events. Ten years later, the organization moved to Mission Hill, which has been its residence ever since, and has moved into several buildings until the latter. We’ve been there for about 30 years and we bought it three or four years ago; we just finished renovating it. We have moved from a welcoming and social club-type organization to working specifically with young people, focusing on what was called at the time peer leadership, the idea that young people train others. youth. Work preparation, education, civic engagement, and arts and culture are the four areas of our organization.

Last month, the Sociedad Latina hosted an event on Tremont Street to celebrate Hispanic Heritage Month and the newly renovated location. What was this celebration about and what does rue Tremont represent for the Sociedad Latina?

Every year, because we focus on arts and culture, we have a whole month of events during Latin Heritage Month, and we do all kinds of things. Usually we have live bands. We are very attached to music. We have a music club where young people learn to play an instrument, write music and write lyrics. They learn composition, they learn sound engineering, they learn vocal performance. Usually we do a lot of artistic activities. We bought the building a few years ago, and it was a big deal because Mission Hill has changed so much; it has become gentrified and it has been run by students, especially for some of the colleges that are over-enrolling and do not have enough housing for their students. So that pushed up the price of rental housing, which was taken over by students and displaced families. We feel lucky because we’ve been there for over 30 years, and it’s our home.

What are the biggest challenges for the Latin community in Boston?

So much. I think the biggest challenge is the under-representation of Latinos in decision-making spaces across all sectors. We commissioned two reports focused on the city of Boston, the city government in particular, and the under-representation in leadership positions in City Hall and on all boards, commissions and task forces. If you look at health care, if you look at higher education, if you look at philanthropy, Latinos are not in the decision making arenas.

The other thing is income inequality. Wall Street 24/7. [website] ranked all states for income inequality, and Massachusetts was No.1 for Latino income inequality. So I’m scared for Boston. It means losing a very important population in terms of diversity, language [and] culture. Our public school system is failing our Latino students because they are misguided about higher education. They are in debt and take out loans that can just drown them. The students then leave and have a debt and continue their education elsewhere without repaying the loan. The community college can absolutely play a role. It’s not that they’re a bad thing, but it’s a challenge that our students take between six and eight years to graduate, and many of them don’t even get a bachelor’s degree.

You mentioned a gap between the Latin American community and the rest of the people of Boston. Do you attribute it to low household incomes or do you think there is systemic discrimination against the Latin American community?

I think it’s those two things. I think there is racism in everything we do and in every policy. I don’t think there are enough people who have historical awareness and understanding, and it comes back to my point of under-representation. If you don’t have community members sitting at the table while policy decisions are being made, then you have unintended consequences for that population. I think so, that part is generational poverty, but I mean, who benefits Latinos and people of color from not being in a position of power? It only supports the white supremacist structure we live in.

Is Boston a Racist City?

Yes it is.

Have you been the victim of discrimination in your life, both as an ordinary person and as a public figure?

Yes, I did, and I still face it today. Growing up, it happened when I moved to Boston. It was my first experience with racism, and it was just very ugly and disturbing. Being harassed and harassed was no fun. I faced him all the time in different ways. I went to meetings with foundations where board members asked me if I was racist because I work in a Latino organization and stupid things like, “Do you know how to cook rice and beans? ? Well, I don’t know how to cook rice and beans. I am from Argentina and we do not eat rice or beans.

It’s things like that all the time. It’s in my work, in certain circles where I can get an idea and put it forward and the room is silent. I am bringing up something about racism, and it is silent. People don’t want to deal with this. In most of the circles I am in, I am usually one of the only, if not the only Latin American woman. They just ignore what I have to say, ride over it. Sometimes Latino women aren’t even included in the conversation. Maybe it was a month ago that I was in a store with my daughter and people thought we were trying to steal something; it was ridiculous. I’m a grown woman. It’s a constant. It’s very exhausting, and I know I’m not the only person who feels this way. People of color are exhausted and Boston is a really tough place that won’t admit it’s racist.

Does Sociedad Latina have an important project or event to come in the coming months?

We focus on hydroponics and just do more work with families and teach them how to grow their own vegetables at home with hydroponic systems. We continue our work on sexual health and education of young people on sexually transmitted diseases, healthy relationships and education of parents on the HPV vaccine. We’re working on something called myCAB, which is my career advancement plan. [The plan is for middle and high schoolers and] to get young people to think about where they want to go in the future and what to do. We are asking for more guidance counselors in schools, more mental health counselors and fewer police officers. We are working to ensure that restorative justice is embraced by the Boston Public School. And then we’ll have a ribbon cut again in the spring or fall to celebrate our edifice.

Sign up for our monthly newsletter on the most important social justice issues in Boston right now.


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Listing of the new financial instrument – NNF069 – SENS https://hhqh.net/listing-of-the-new-financial-instrument-nnf069-sens/ Wed, 17 Nov 2021 12:27:00 +0000 https://hhqh.net/listing-of-the-new-financial-instrument-nnf069-sens/ Listing of new financial instrument – NNF069 NEDBANK LIMITED(Incorporated in the Republic of South Africa)Registration number: 1951/000009/06JSE Alpha Code: BINBK LISTING OF NEW FINANCIAL INSTRUMENT The JSE Limited has granted approval for a new financial instrument listing to Nedbank Limited under its StructuredNote Programme dated 08 February 2019 as follows: New Instrument NNF069 Authorised programme […]]]>
                            

Listing of new financial instrument – NNF069

NEDBANK LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1951/000009/06
JSE Alpha Code: BINBK

LISTING OF NEW FINANCIAL INSTRUMENT

The JSE Limited has granted approval for a new financial instrument listing to Nedbank Limited under its Structured
Note Programme dated 08 February 2019 as follows:

New Instrument NNF069

Authorised programme size R30,000,000,000.00
Total amount in issue after this issuance R20,338,401,839.00
Instrument type Floating Rate Note
Bond Code NNF069
Nominal Issued R600,000,000.00
Issue Price 100%
Coupon 3 Month JIBAR as at 18 November 2021 plus the Margin
Margin 1.20%
Coupon Rate Indicator Floating
Trade Type Price
Final Maturity Date 18 February 2022
Books Close Date 8 February 2022
Interest Payment Date(s) 18 February2022
Last Day to Register By 17:00 on 7 February 2022
Issue Date 18 November 2021
Date Convention Following
Interest Commencement Date 18 November 2021
First Interest Payment Date 18 February 2022
ISIN No. ZAG000181785
Additional Information Senior Unsecured

The Applicable Pricing Supplement is available at:
https://clientportal.jse.co.za/Content/JSEPricingSupplementsItems/NNF069%20PricingSupplement18112021.pdf

The note relating to the new financial instruments (“Note”) will be dematerialised in the Central Securities Depository
(“CSD”) and settlement will take place electronically in terms of JSE Rules. For further information on the Note issue
please contact:

Boiketlo Mphahlele Nedbank Corporate and Investment Banking +27 11 5354086
Corporate Actions JSE +27 11 5207000

17 November 2021

Debt Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 17-11-2021 02:27:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.


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Gold reaches the top of the 15-month flag https://hhqh.net/gold-reaches-the-top-of-the-15-month-flag/ https://hhqh.net/gold-reaches-the-top-of-the-15-month-flag/#respond Thu, 11 Nov 2021 14:02:14 +0000 https://hhqh.net/gold-reaches-the-top-of-the-15-month-flag/ Since the start of the COVID-19 virus event, gold has climbed more than + 26% to highs near $ 2,090 on August 7, 2020. Yet in the past 15 months, gold has dropped in a lateral price pattern. This price rotation set up a very large Gold Pennant / Flag formation which recently hit the […]]]>

Since the start of the COVID-19 virus event, gold has climbed more than + 26% to highs near $ 2,090 on August 7, 2020. Yet in the past 15 months, gold has dropped in a lateral price pattern. This price rotation set up a very large Gold Pennant / Flag formation which recently hit the APEX of the Flag setup.

This is very important for two reasons. First, as global central banks begin to plan and prepare for a more normalized monetary policy and tackle excess credit and inflationary price concerns, the benefits of gold as an instrument of cover become more valuable. Second, after a massive rise in asset prices and an even bigger global attempt to stimulate the economy after the COVID-19 virus event, the world has never been in this scenario. Interest rates near zero, excessive amounts of money and credit around the world, asset prices showing trends close to hyperinflation, and global central banks taking very little action to address economic concerns futures.

Gold’s sparkle could grow for global investors

The luster of gold over the past 15 months has declined slightly. Global central banks, businesses and consumers have embarked on the easy money rally and have ignored the risks at hand. Today, China’s economic concerns and corporate debt problems continue to plague global markets. Investors are suddenly realizing the possibility of an increase in global risks over the past 12+ months – without abating.

Recently, China’s economic and credit / debt problems have spilled over into broader market concerns. What was previously more of a rated debt issue has become a global concern, as China’s demand for cheap credit over the past 8 years may have created the elements for a perfect storm (source: Yahoo! La finance).

I published research papers on this subject several months ago – which are still relevant today.

After reviewing some of my previous research articles, I urge you to consider a unique situation that may be occurring in global markets at this time. I think the US markets have entered a new phase of the amortization cycle (started towards the end of 2019). As the US dollar continues to try to maintain above the $ 90 ~ $ 91 level, we could enter an economic crisis in foreign markets brought on by the easy money policies of the United States over the past 12 years. past years and more. If so, then the US stock market and the US dollar could continue to show strength during a foreign market collapse – also as gold and silver start to rise.

What could happen next

This type of event will eventually spill over into U.S. markets as concerns grow about depth and cross-border economic issues if an event of economic contagion continues. Still, I think initially US assets and the US dollar may increase as global traders / investors move away from the risks of the global / Asian market and invest capital in safer US stocks and the US dollar. . This can trigger a rallying phase in the US stock market and push the US dollar above $ 95-96 briefly before traders realize the full scale and scope of this potential global crisis in the making.

This daily gold chart highlights the prolonged formation of the pennant / flag price and how gold started to see increased trading volume in what appears to be an upward price breakout. Still, gold needs to break through two key levels before considering this potential rally phase confirmed: $ 1,845 and $ 1,920.

Fibonacci price extensions show $ 2,600 as potential price target for gold

This weekly gold chart highlights a longer term Fibonacci price extension pattern. This suggests that $ 2,240 and $ 2,600 are likely to be price targets for gold if this rally continues. Many traders believe that the last 15+ months of sideways trading in gold has formed a “handle” for a larger “cup-n-handle” price pattern. Ideally, I would like to see a rally in gold above $ 1925 ~ 1940 before trying to confirm the “cup-n-handle” pattern.

My interpretation of the world markets and gold is exactly as I said above. Gold is starting to become more attractive to global investors as the Chinese debt and economic crisis continues. The risks increase if the economic contraction in China / Asia continues. Global risks are already excessive after more than 24 months of extensive world central bank functions, easy credit and rising inflation. As a result of inflation, price pressures will eat away at the profits of many companies. Slowing consumer demand could create a big hole in demand for many assets.

Traders should prepare for a period of price volatility by the end of 2021 as these issues continue to resolve. My technical analysis suggests that this rally could continue until early January 2022. My cycle analysis indicates that a price trend change could begin after around January 18th. Yet I also believe that this potential gold rally is only just beginning and global worries could escalate as the US stock market recovers. This is because global traders are piling up in US assets / stocks while trying to avoid economic / debt issues in other parts of the world.

Gold will continue to react to this new worry and fear as it invades the minds of traders. Gold’s luster will likely continue to grow – which could push gold above $ 1950 before the end of 2021. Time will tell.

You want to know more ?

Follow my research and find out how I use specific tools to help me understand price cycles, configurations, and target price levels. Over the next 12-24 months, I expect significant price fluctuations in the US stock market and other asset classes around the world. I think markets are starting to move away from the phase of continued recovery in central bank support and could form a reassessment phase as global traders try to identify important next trends. Precious metals will likely start to act as a suitable hedge as caution and concerns cause traders / investors to turn to metals.

Please take a minute to visit www.TheTechnicalTraders.com to learn more about our Total ETF Portfolio (TEP) technology, and it can help you identify and trade better industry configurations. We have built this technology to help us identify the strongest and best trade setups across all sectors of the market. Every day, we deliver these configurations to our subscribers along with TEP system transactions. You owe it to yourself to see how easy it is to trade 30% to 40% of the time to generate incredible results.

Chris Vermeulen

www.TheTechnicalTraders.com

For an overview of all of today’s economic events, check out our economic calendar.


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Shilling slip adds Sh139b to Kenya’s debt in five months https://hhqh.net/shilling-slip-adds-sh139b-to-kenyas-debt-in-five-months/ https://hhqh.net/shilling-slip-adds-sh139b-to-kenyas-debt-in-five-months/#respond Tue, 09 Nov 2021 06:00:05 +0000 https://hhqh.net/shilling-slip-adds-sh139b-to-kenyas-debt-in-five-months/ Imagine leaving the banking room on an afternoon in June of this year after confirming that your outstanding loan is 100,000 Sh. But five months later you are told that you now owe the bank 103,440 Sh. “How is it possible?” you wonder loudly. To that, the bank teller said curtly, “Your loan was in […]]]>

Imagine leaving the banking room on an afternoon in June of this year after confirming that your outstanding loan is 100,000 Sh.

But five months later you are told that you now owe the bank 103,440 Sh.

“How is it possible?” you wonder loudly.

To that, the bank teller said curtly, “Your loan was in US dollars, remember? “

Then it hits you. In June, one dollar stood at 107.85 Sh. It was still weak against the pre-pandemic exchange rate of 102.4, but today it is trading at a staggering sh111.5 against the greenback.

Our borrower here might as well be Kenya. Thanks to the weakening of the shilling against the dollar, Kenya’s external debt, even before including new borrowing, swelled by 137.76 billion shillings.

At the end of June, the country’s foreign debt, in dollars, stood at 37.23 billion dollars.

With the exchange rate then at 107.85, this put the country’s external debt at Sh4.015 trillion.

Suddenly the shilling was in free fall, with most analysts unable to give a precise and conclusive reason.

At the time of going to press yesterday, one dollar stood at 111.59 shillings. This means that Kenya’s external debt has since swelled to Sh4.154 trillion. A volatile exchange rate puts pressure on public finances as the country now needs more local currency to repay a foreign loan, especially if it is denominated in US dollars. “The fear of a weakening shilling inflating the country’s external debt is at the heart of the Central Bank of Kenya’s (CBK) obsession with the currency,” said one analyst, who requested anonymity.

Stabilizing the exchange rate so as not to make the country’s debt expensive is one of the reasons the CBK is intervening in the market.

The regulator insists it is only entering the market to smooth out the rough edges – the volatility that could lead to a financial crisis.

But analysts believe that with a little financial discipline, the country would have avoided this additional debt burden and used the money for other basic needs such as security, health care or education.

It is even worse that much of Kenya’s debt (nearly seven-tenths) is in dollars.

At the end of June of this year, the country’s total debt stood at 7.71 trillion shillings, an increase of 1.02 trillion shillings from 6.69 trillion shillings in the same month. ‘last year.

This means that the government has borrowed an average of 2.8 billion shillings per day, which experts say may hurt ordinary Kenyans if the trend continues.

Since March of last year, when the country recorded its first case of Covid-19, the government has borrowed 1.4 trillion shillings.

The Treasury argued that high borrowing since March of last year reflects difficult conditions brought on by the Covid-19 pandemic, which has squeezed state revenues. In one of its documents, the National Treasury attributed the increase in the stock of public debt to the increase in disbursements intended for budget support, Covid containment measures, the financing of ongoing development projects. and new and fluctuating exchange rates.

However, critics point to corruption and waste for contributing to inflated spending, resulting in excessive borrowing.

Debt denominated in foreign currencies accounted for 51.2% of total debt, a situation that protects the country from exposure to currency risks is moderate, according to the Treasury.

“The government is doing everything it can to minimize its external exposure to exchange rate fluctuations by selecting the optimal risk minimizing the currency composition of the debt. This was made possible by reducing the reliance on US dollar-denominated debt and encouraging exports of goods and services, ”the Treasury said.

The proportion of foreign debt held in US dollars fell from 67.3 percent in June of last year to 66 percent in June.

But that’s still high for a border market economy like Kenya’s, according to Sara Wanga, head of research at AIB Capital, an investment bank.

“This raises concerns about Kenya’s debt sustainability. As the shilling continues to depreciate, this will continue to be a problem, ”Wanga said.

The share of euro external debt rose to 19.4 percent at the end of June of this year, from 18.0 percent in June of last year.

At the end of June, 6.3% of foreign debt was denominated in Japanese yen, 5.6% in yuan, 2.5% in pounds sterling, while other currencies represented 0.2%.

Borrowing from commercial banks (syndicated loans) and Chinese loans such as standard gauge railway construction and Eurobonds increased the share of Kenyan dollar denominated loans.

The depreciation of the shilling against the greenback has thus given nightmares to the Treasury mandarins.

“If your exchange rate is not stable, then you have this immediate effect on your debt payments,” said Ndoho Wahoro, managing director of Euclid Capital and former managing director of public debt management.

The solution, which the Treasury has started to implement, is to stop commercial borrowing.

“Before you can start building underwater, at least plug the hole,” Ndoho said. Unfortunately, the judgment mainly concerns syndicated loans, which are granted by a group of banks.

“He (the government) still wants to go for the Eurobond, which is also a commercial market,” Ndoho explained.

The government, which recently issued its fourth Eurobond, may not sever ties with the debt instrument as it still believes it has a good reputation.

There is a lot of liquidity in the market that he thinks he can tap into for cash management purposes.

“The euro-bond will always be more attractive to governments than even the multilateral one because it is not subject to any conditions. It’s a purely commercial arrangement, ”added Ndoho.

Just over half of the country’s public debt (Sh4.01 trillion) is foreign loans largely from multilateral lenders and sovereign bonds such as the Eurobond.

The remaining 3.7 trillion shillings is domestic, which the government obtains largely by issuing treasury bills, short-term government debt, and longer-term treasury bonds.

The government of President Uhuru Kenyatta has now borrowed 5.82 trillion shillings in the eight years since 2013.

That’s nearly five times what former President Mwai Kibaki borrowed in 10 years – 1,200 billion shillings – from June 2003 to June 2013.

President Kenyatta insists that most of the borrowed money was used to grow the economy, which is reflected in the expansion of GDP, or the measure of the national cake, of 4.3 trillion shillings. in 2012 to 10.3 trillion shillings at the end of last year. .


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Minnesota Democrats Heed Election Warning Signs As Mid-Terms Approach https://hhqh.net/minnesota-democrats-heed-election-warning-signs-as-mid-terms-approach/ https://hhqh.net/minnesota-democrats-heed-election-warning-signs-as-mid-terms-approach/#respond Sat, 06 Nov 2021 19:20:35 +0000 https://hhqh.net/minnesota-democrats-heed-election-warning-signs-as-mid-terms-approach/ Minneapolis residents decisively defeated a Progressive-backed amendment to overhaul the police department on Tuesday, placing the city in the midst of a political calculation for Democrats as voters across the country rejected other candidates and left-wing causes. In Seattle, a Republican led the race for city prosecutors against a Democrat who had been a strong […]]]>

Minneapolis residents decisively defeated a Progressive-backed amendment to overhaul the police department on Tuesday, placing the city in the midst of a political calculation for Democrats as voters across the country rejected other candidates and left-wing causes.

In Seattle, a Republican led the race for city prosecutors against a Democrat who had been a strong advocate of abolishing the police service. In Buffalo, NY, the Democratic mayor appeared to win as a written candidate after losing in the primaries to a Democratic Socialist Party candidate who was in favor of ending the police department. New York City voters overwhelmingly chose a moderate Democrat and former police captain Eric Adams as their next mayor.

At the same time, Republicans surged in Virginia and had a strong performance in deep blue New Jersey, emboldening conservatives in Minnesota who presented Tuesday’s results as an indicator in a nation frustrated with rising inflation. , crime and the long tail of the pandemic.

“I hope my colleagues recognize, especially those who come from deep blue urban neighborhoods, that it’s great to represent people like you maybe do in your neighborhoods, but to ignore neighborhoods like the mine, and ignoring the rural neighborhoods in this country, is doing the nation itself a terrible disservice, ”said US DFL Representative Dean Phillips, who represents a suburban district of Minnesota last week. . “And a terrible recipe for electoral success.”

The police problem does not go away

Even though Republicans applauded Minneapolis residents for voting against the Policing Amendment, they foreshadowed the problem would not go away for Democrats in 2022 again.

“They are the ‘fund the police’ party and voters will not forget that,” said US Representative from Minnesota Tom Emmer, who heads the House’s Republican campaign arm.

Democrats are struggling to decipher the message sent by voters who also approved sweeping rent control measures and largely rejected Conservative attempts to take control of school boards in the Twin Cities suburb.

“Still a divided country”

“It’s a reminder that we’re still a fairly divided country, and I don’t think Democrats have helped each other by the endless bickering over major infrastructure bills in Washington,” said Jeff Blodgett, an agent for Washington. longtime DFL who was the former president. Director of State to Barack Obama in Minnesota for two election cycles.

This message was echoed by a wide range of Democrats in Minnesota last week as they sifted through the election results. Opposition to ex-President Donald Trump has maintained their disparate coalition in 2020 long enough to elect Joe Biden and put the party in power in Washington, but it has since frayed as factions wrangle over it. party agenda for the future.

The debate over the future of public safety in Minneapolis has divided Democrats in Minnesota, with prominent leaders such as Governor Tim Walz and U.S. Senators from Minnesota Amy Klobuchar and Tina Smith opposing the measure, while the US Representative Ilhan Omar and Attorney General Keith Ellison actively campaigned for his passage.

Walz said state and local work around public safety and police reform has been going on for a long time and is not going to be resolved by the ballot issue in Minneapolis.

“People want to see results”

The former teacher, who is running for a second term next fall, expects public safety and education to be the main issues in the midterm elections.

“People want the job done, they want to see tradeoffs, they want to see real results,” Walz said.

Some prominent Minnesota Democrats have pushed back on what Tuesday’s results mean for 2022, including Ellison, who slammed Republicans for offering voters red herrings on police and other issues.

He said Democrats should stand up for what they believe and not be put on the defensive by the distractions offered by Republicans. The Minnesota attorney general’s office is on the ballot in 2022, but Ellison has not officially declared he is running again.

Time spent on distractions

“Republicans are blaming you for everything their pollster last came up with,” Ellison said. “And then you spend your time trying to explain it, when what you really should do is say it’s nonsense, but let me tell you what makes sense.”

Progressives and moderates have expressed frustration that the Democratic Party has not been able to address some key political priorities. The failure of the police ballot measure and opposition from the main Democrats could reduce turnout in populated and LDF-rich urban areas next fall, said Kenza Hadj-Moussa, head of public affairs for the organizing group progressive TakeAction Minnesota.

“Between… maintaining the status quo, spreading misinformation and doubling down on what Republicans are going to say anyway, they’ve done next to nothing to get young people out, especially young people of color,” he said. she said, noting that key political issues like student debt cancellation and paid family leave policies could shake things up for many voters.

But the battles for statewide office and control of the Minnesota Legislature are also fought in the suburbs, which has helped empower Democrats over the past two election cycles, but oscillated between parties.

Suburbs are not all the same

Republicans in Virginia have done better than expected in the suburbs in speaking out about “parenting choice” and concerns about racial teachings in schools. In Minnesota, several lists of conservative candidates have attempted to take control of school boards by opposing masking and questioning racial equity policies.

Only a handful of those school board candidates won and the majority of school referendums passed, signaling a different mood in suburban Minnesota, said DFL Party Chairman Ken Martin. But he warned the party has yet to learn from the frustrations Republicans have exploited in Virginia and New Jersey. “People vote for their wallets and they vote for their anxieties and we have to meet their needs,” Martin said.

“There are clear lessons to be learned about what voters are reacting to right now. It would be foolish of us not to learn them.”

“They may be projecting confidence now looking at some of last night’s election results in Virginia, but it was a very close race,” Luna said of the Republican nominees. “A lot can change in the next six months to a year.”

Editor Hunter Woodall contributed to this report.


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Fourth Live Update from Stimulus Control: California Stimulus, Social Security 2022, Medicare, Child Tax Credit … https://hhqh.net/fourth-live-update-from-stimulus-control-california-stimulus-social-security-2022-medicare-child-tax-credit/ https://hhqh.net/fourth-live-update-from-stimulus-control-california-stimulus-social-security-2022-medicare-child-tax-credit/#respond Sat, 30 Oct 2021 04:39:11 +0000 https://hhqh.net/fourth-live-update-from-stimulus-control-california-stimulus-social-security-2022-medicare-child-tax-credit/ Safety nets kept US uninsured rate during pandemic – HHS Enrollment in a health insurance program administered by the United States government Medicaid during the Covid-19 pandemic increased by 16%, with more than 11 million additional Americans enrolled, the Department of Health and Human Services said on Friday. Safety nets like Medicaid and the reopening […]]]>

Safety nets kept US uninsured rate during pandemic – HHS

Enrollment in a health insurance program administered by the United States government Medicaid during the Covid-19 pandemic increased by 16%, with more than 11 million additional Americans enrolled, the Department of Health and Human Services said on Friday. Safety nets like Medicaid and the reopening of registrations via the Affordable Care Act helped stabilize uninsured rates even though millions lost employer-linked health insurance coverage as the pandemic shook the economy, the department said.

“The Covid-19 pandemic has turned our lives upside down in many ways, but today’s report shows that we have made significant progress in protecting the health of Americans,” said HHS Secretary Xavier Becerra. The pandemic has disrupted the federal surveys the HHS relies on for coverage estimates, the agency said in a health insurance coverage tracking report. He added that lower response rates, especially among low-income and younger respondents, may have affected the accuracy of his estimates.

The data showed a stable uninsured rate in 2020, with estimates ranging from 8.6% to 9.7% of the population, about 28 to 31.6 million people. About 30 million U.S. residents were uninsured in 2019, before the pandemic, show federal surveys. The rate of uninsured was significantly higher in Hispanic populations at 18.3%, residents of States That Have Not Expanded Medicaid Coverage at 17.6%, people below the poverty line at 17.2%, and Black populations at 10.4%, according to Friday’s report.

Addressing these disparities is a top priority for President Joe Biden’s administration, the department said. Data precedes online health insurance enrollment period market created by ACA, also known as Obamacare, for 2022, is scheduled to open on Monday and close on January 15.

About 2.8 million people have taken out health insurance on the government website Healthcare.gov after Biden reopened registrations for a special period from Feb.15 to Aug.15 in part because of the pandemic. The Democrat ran in 2020 with a promise to reduce growing inequalities, including expand access to health care and affordable drugs amid a pandemic that has killed more than 745,000 people so far.

Biden presented a negotiation social spending plan Thursday to Congress and voters. It extends the ACA premium tax credits until 2025 and adds coverage of hearing fees for people 65 and over, but lacked in particular Health Insurance and Extensions of Medicaid Coverage as well as the reform of drug prices.


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China Evergrande’s EV unit soars on business change, Evergrande sinks By Reuters https://hhqh.net/china-evergrandes-ev-unit-soars-on-business-change-evergrande-sinks-by-reuters/ https://hhqh.net/china-evergrandes-ev-unit-soars-on-business-change-evergrande-sinks-by-reuters/#respond Tue, 26 Oct 2021 02:16:00 +0000 https://hhqh.net/china-evergrandes-ev-unit-soars-on-business-change-evergrande-sinks-by-reuters/ © Reuters. FILE PHOTO: The company logo is seen at the headquarters of the China Evergrande group in Shenzhen, Guangdong province, China on September 26, 2021. REUTERS / Aly Song HONG KONG (Reuters) – Shares in the China Evergrande group’s electric vehicle (EV) unit rose 5.8% on Tuesday morning, extending the gains from the previous […]]]>

© Reuters. FILE PHOTO: The company logo is seen at the headquarters of the China Evergrande group in Shenzhen, Guangdong province, China on September 26, 2021. REUTERS / Aly Song

HONG KONG (Reuters) – Shares in the China Evergrande group’s electric vehicle (EV) unit rose 5.8% on Tuesday morning, extending the gains from the previous day as the cash-strapped developer said he would prioritize growing his EV business.

China Evergrande, however, reversed its initial gains and fell more than 6%.

China Evergrande, reeling from more than $ 300 billion in liabilities, averted a costly default last week with a last-minute bond coupon payment, giving it more time to head off impending debt tightening with its next major payment due Friday.

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Victoria’s Blockstream Helps Global Adoption of Bitcoin as Legal Tender https://hhqh.net/victorias-blockstream-helps-global-adoption-of-bitcoin-as-legal-tender/ https://hhqh.net/victorias-blockstream-helps-global-adoption-of-bitcoin-as-legal-tender/#respond Sun, 24 Oct 2021 21:08:00 +0000 https://hhqh.net/victorias-blockstream-helps-global-adoption-of-bitcoin-as-legal-tender/ Thousands of Salvadorans recently took to the streets to denounce their president, Nayib Bukele, who called himself the country’s “dictator” on Twitter. Some protesters carried anti-bitcoin signs to express their displeasure with his decision to make the cryptocurrency legal this summer, a move he said would strengthen the economy and reduce his dependence on his […]]]>

Thousands of Salvadorans recently took to the streets to denounce their president, Nayib Bukele, who called himself the country’s “dictator” on Twitter. Some protesters carried anti-bitcoin signs to express their displeasure with his decision to make the cryptocurrency legal this summer, a move he said would strengthen the economy and reduce his dependence on his currency. main, the US dollar.

Bitcoin’s controversial status in El Salvador is in part due to Blockstream, a Victoria-based company founded in 2014 that builds products that allow cryptocurrency to be stored, traded, and mined. Mining is an energy-intensive procedure that uses computing power to solve complex equations and generate cryptocurrency, a process called proof of work.

Blockstream worked with the government of El Salvador to implement the infrastructure that would allow bitcoin to be adopted and help its citizens to mine it. The country has set up a mining operation near volcanoes, using geothermal energy to power its facilities.

“They had no choice but to embrace bitcoin because they are wedded to the US dollar,” Samson Mow, Blockstream’s chief strategy officer, told The Globe and Mail.

“When the United States prints money, there is a first-rate advantage for the Americans, isn’t there? They benefit from infrastructure. But for Salvadorans who use the dollar as their currency, there is nothing for them, they are just devalued … so their escape is bitcoin.

Mr Mow said other countries were interested, adding that Blockstream had spoken with an adviser to the Colombian president – although that country’s government had not announced any plans to make bitcoin legal tender.

And he says he thinks governments in Canada should support cryptocurrency as well, especially when it comes to mining.

Blockstream has been mining bitcoin in Quebec since 2017. The province offers relatively cheap renewable energy, but its electric utility has imposed moratoria on mining in the past and tightly regulates the industry.

According to the Cambridge Bitcoin Electricity Consumption Index, 3% of the computing power used for mining is based in Canada, mainly in Quebec. More and more miners have recently moved their operations to Canada, after China, which had dominated the bitcoin mining industry, recently banned the practice. However, Quebec regulations have led Blockstream to expand its mining activities in the United States, where there is less paperwork.

Adam Back, CEO of the company and a pioneer in the development of bitcoin mining, said that easing mining regulations in Quebec “will bring you a lot of investment in Quebec, which is not the richest province.

“There are a lot of ripple effects: construction, electrical engineering center, data center operators, management personnel to operate it… so it’s like the era of the gold rush and you are sitting on a gold mine and you decide not to mine it for confusing reasons.

Mr. Mow agrees.

“We could be such a wealthy nation if we decided to mine bitcoin,” he said. “I hope Canada wakes up and understands that bitcoin is a revolution – and we need to be at the forefront of that revolution.”

Blockstream has the ambition to help replace the global fiat currency system with a bitcoin-based economy. Adopting it, the company argues, would create a sort of modern gold standard, where, ideally, an asset-backed economy dampens inflation, provides stability, and takes power away from governments with a Keynesian impulse to spend heavily.

Mr. Mow argues that “money printing” is the only real lever central banks can pull to intervene in the fiat economy, an instrument of brute force that he sees as unsustainable and intended to create hyperinflation. He is concerned about the effect of heavy public spending during the pandemic and the associated inflationary risks. Adopting bitcoin, he says, could mean avoiding a debt crisis or the episodes of hyperinflation that have plagued countries like Argentina.

Dr. Back wants his business to be successful, but profits are, at least in part, a means to a bigger end.

“We’re not just trying to be successful in the business, it’s the other way around,” he said. “We’re trying to get the mission done, and making money as a business is fuel.”

Changing the economic paradigm does not come cheap. Since its inception, Blockstream has raised $ 300 million in capital to fund its operations and reached a valuation of $ 3.2 billion after its last fundraising in August. The company also holds Bitcoin on its balance sheet, and it has paid off: the price of the token has appreciated by around 10,000% over the past five years.

Dr Back says the company will still need more money to meet its goals.

“We could do another raise or an IPO,” he said. “People sometimes compare us to SpaceX because [we build] big plans that need to be done that no one else seems to be doing.

Mr Mow says Canada could play a key role in the bitcoin revolution. He sees the country’s regulatory landscape as hostile to cryptocurrency exchanges, many of which have chosen not to operate in Canada because they must register with provincial and territorial regulators.

Although Blockstream is not in the stock exchange business, Mr Mow says securities regulators lack sophisticated cryptocurrency knowledge. He cited, for example, the Ontario Securities Commission decision in September to ban Tether, a cryptocurrency pegged to the U.S. dollar, without providing detailed reasons for the decision.

“There is a lot of controversy around [Tether], which is manufactured, ”Mr. Mow said. “They just read the mainstream press and think, Oh, there’s something wrong with that. “

After The Globe spoke with Mr Mow, Tether was fined US $ 41 million by a US securities regulator for not having sufficient currency reserves. The move came a week after a Bloomberg report that Tether was not fully backed by U.S. dollars, as its senior executives had always claimed.

After Tether was fined Mr Mow told the Globe it was “actually a point of clarity” as the regulator made it clear that lack of reserves was a problem in the past – that he was not punishing him for his current reservations. He added that another US-indexed stablecoin is under investigation by a US regulator, but the OSC has not banned it.

“It just doesn’t make sense and it feels like the OSC is just lazily reading the headlines,” he said.

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Currie Rose Resources Announces Debt Settlement Equity Issue https://hhqh.net/currie-rose-resources-announces-debt-settlement-equity-issue/ https://hhqh.net/currie-rose-resources-announces-debt-settlement-equity-issue/#respond Fri, 22 Oct 2021 21:03:29 +0000 https://hhqh.net/currie-rose-resources-announces-debt-settlement-equity-issue/ Toronto, Ontario – (Newsfile Corp. – October 22, 2021) – Currie Rose Resources Inc. (TSXV: CUI) (“Currie” or the “Company”) announces that it intends to settle certain overdue accounts payable in the aggregate amount of $ 200,000 (the “Debt”) due to certain creditors (the “Creditor”) by issuing a maximum of 4,000,000 ordinary shares of the […]]]>

Toronto, Ontario – (Newsfile Corp. – October 22, 2021) – Currie Rose Resources Inc. (TSXV: CUI) (“Currie” or the “Company”) announces that it intends to settle certain overdue accounts payable in the aggregate amount of $ 200,000 (the “Debt”) due to certain creditors (the “Creditor”) by issuing a maximum of 4,000,000 ordinary shares of the Company (the “Settlement share”) at a reputed price of $ 0.05 per common share (on “Actions for the debt transaction”).

The debt was accrued under a contract for consulting services (the “Consultant Agreement”) entered into in July 2016 between Currie Rose Resources and a company controlled by the President and CEO of the Company (“Consultant”). The consulting contract provides for monthly fees payable to the consultant (the “Service charge”) of CA $ 10,000.

No new controlling person of the Company will be created under the Debt Transaction Shares; however, a new insider of the Company will be created due to the holding of more than 10% of the issued and outstanding shares of the Company at the conclusion of the share purchase transaction. This is a non-arm’s length transaction.

The issuance of the Settlement Shares to the Consultant constitutes a “related party transaction” as that term is defined by Multilateral Instrument 61-101 – Protection of Holders of Minority Securities in Special Transactions (“MI 61-101The Company has been exempted from the minority assessment and approval requirements of MI 61-101 for related party transactions in connection with the Debt Transaction under Sections 5.5 (a) and 5.7 (1) (a) of MI 61-101 as neither the fair market value (as determined under NI 61-101) of the subject matter of the transaction, nor the fair market value of the consideration for the transaction, insofar as it involves the Consultant, does not exceed 25% of the Company’s market capitalization (as determined according to MI 61-101).

The Company proposes to issue the Settlement Shares in order to preserve liquidity to fund future transactions. The board of directors of the company believes that the actions for the debt transaction are necessary to provide the company with a healthy balance sheet in order to attract new capital and earn new interest.

The Company obtained the approval of disinterested shareholders of the Shares for the borrowing transaction on October 21, 2021. All Settlement Shares will be subject to a four month and one day hold period. This transaction remains subject to acceptance by the TSX Venture Exchange. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The Company wishes to clarify the wording of the resolution regarding the share purchase transaction contained in the proxy and the notice of meeting in conjunction with its meeting of shareholders on October 21, 2021. The resolutions correctly state that the debt was $ 200,000 and that the issue price would be $ 0.05, but incorrectly indicated the total number of settlement shares. The Information Circular correctly identifies the 4,000,000 Settlement Shares.

For more information, please contact:
Mike Griffiths, CEO
Office: 905-688-9115
E-mail: This e-mail address is protected from spam. You need JavaScript enabled to view it.

Catherine Beckett, Director of Corporate Affairs
Office: 905-688-9115
E-mail: This e-mail address is protected from spam. You need JavaScript enabled to view it.

About Currie Rose Resources Inc.

Currie Rose is a precious metals explorer focused on identifying high value assets in Canada. Our current projects span British Columbia and Ontario with our immediate focus on the Rossland Project in British Columbia. Please visit our website at www.currierose.com.

Forward-looking statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates. Statements regarding the closing of the transaction, the expected terms of the transaction, the number of Currie Rose securities that may be issued in connection with the transaction and the ability of the parties to meet the closing conditions and receive the necessary approvals are all forward-looking information. . These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements are only valid as of the date on which they are made, and the Company does not undertake to update them publicly to reflect new information or the occurrence of future events or circumstances, unless the law does not require it otherwise.


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