Second Pseudoephedrine Shipment Seized This Week

first_imgBy Dialogo June 19, 2009 Guatemala, June 18 (EFE). – Official sources informed today that the security forces of Guatemala seized a pseudoephedrine shipment valued at 17.2 million quetzals (approximately 2.2 million dollars), the second this week. A spokesperson of the Civil National Police (PNC) told EFE that the antinarcotics agents of that institution seized the drugs Wednesday night in a warehouse at La Aurora International Airport in Guatemala city. It is a cargo of 148,400 pseudoephedrine tablets, which is believed to be shipped from Bangladesh. “We are investigating the source and destination of the cargo, as well as the way in which it entered the country,” he indicated. Last Monday, antinarcotics agents seized a cargo of 17, 562,000 pseudoephedrine tablets in the port of Quetzal, on the Pacific coast. It was found in a container carried in the boat “Libra Rio”, coming from India. The cargo was valued at approximately 32,48 million dollars. The police spokesperson said that no arrests were made when both cargos were seized. Last February, the Guatemalan government prohibited the import of pseudoephedrine because of its use in the manufacture of synthetic drugs such as ecstasy.last_img read more

COVID-19: Indonesian banks face challenging time but hopes remain

first_img“If the pandemic continues in the next few months, the bad loan ratio could increase because economic activities would be disrupted for a longer period of time,” he told The Jakarta Post.Such a warning was reflected in the Deposit Insurance Corporation’s (LPS) latest data showing that loan-at-risk stood at 11 percent, chairman Halim Alamsyah said during a hearing with the House of Representatives Commission XI overseeing financial matters. The figure is higher than the 10 percent rate last year.Private-owned Bank Mayapada Internasional president director Haryanto Tjahjariadi echoed the sentiment, admitting that he expected to see an increase in bad loans as the coronavirus disease hampered economic activities in all sectors.“However, we will try to maintain our NPL ratio at around the 3 to 3.5 percent this year,” he told the Post.The rise in bad loan ratio is also expected to increase pressure on banks’ profitability, even on Indonesian banks, which are considered to be some of the most profitable in the world.“Rising NPL will increase banks’ credit costs while their margins will also decrease due to the central banks’ low interest rates,” Tarzimanov said.Bank Indonesia (BI) in March cut yet another 25 basis points off of the benchmark seven-day reverse repo rate to 4.5 percent. It also lowered the deposit facility rate to 3.75 percent and lending facility rate to 5.25 percent.Read also: COVID-19 batters Indonesia’s loan growth to record lowThe lower rates are expected to transmit into lower banks’ interest rates, affecting consumer loans, corporate loans and mortgage interest rates. This will then translate to lower net interest margin (NIM), which usually determine a bank’s profitability.Senior economist Aviliani said on Friday that banks’ NIM had already decreased in the past few years due to tight competition since the digital era.Data from the Financial Services Authority (OJK) showed that banks’ NIM ratio stood at 4.91 percent in 2019, lower than the 2016 figure of 5.63 percent.Given that the OJK has allowed more relaxed restructuring among debtors amid the pandemic, Aviliani said she expected banks’ NIM would further decrease.Last month, the OJK issued a new regulation that relaxed debt quality assessment and restructuring requirements for debtors that are hit hard by the coronavirus pandemic, allowing them to assess the quality of a loan worth up to Rp 10 billion (US$637,795) based on only the debtor’s timeliness in paying the loan’s principal and interest.“I think the NIM will significantly decline from April to June as the COVID-19 pandemic continues,” she said during an online discussion.Despite the bleak outlook, she still expressed optimism that some banks could still record profits amid the less-than-favorable conditions.“Banks that don’t rely heavily on interest income as their main revenue stream and have strong fee-based income can still book a profit despite today’s conditions,” she said.Read also: Small banks could be forced to merge under new regulation, OJK saysAlthough Moody’s expects bank profitability to decrease as they needed to increase their provision, Moody’s vice president senior credit officer Alka Anbarasu also said Indonesian banks could still survive during the challenging climate as she believed they could absorb the increase in credit costs while still supporting internal capital generation.David of BCA echoed the sentiment, saying that Indonesian banks were among the strongest in the emerging market due to the high capital adequacy ratio (CAR) percentages.“Our banks’ CAR currently sits around the 23 percent level. The rise in NPL and credit costs may cause the banks’ CAR to decline, but overall it is still stronger than most other banks in the emerging market,” he said.Topics : Its vice president senior credit officer of financial institutions group, Eugene Tarzimanov, further added during a webinar on Tuesday that the disruptions were expected to increase the bad loan ratio in the region, including Indonesia, as they weakened cash flows of small and medium enterprises (SMEs) and corporates in exposed industries, such as airlines, oil and gas and global shipping.Read also: Rating agencies downgrade Indonesian companies on debt repayment concerns amid COVID-19Although Bank Central Asia (BCA) economist David Sumual said on Wednesday that he could not determine how big the rise in the non-performing loan (NPL) ratio would be this year, he admitted that the ratio could increase further if the pandemic continued.The Financial Services Authority (OJK) recorded gross NPL ratio at 2.79 percent in February, the highest level since May last year. Loan growth, meanwhile, stood at 5.93 percent in the month, reflecting the lowest expansion since November 2009, as demand plunged. The spread of COVID-19 is expected to hit Indonesian banks’ performance this year, but analysts remain hopeful that the industry will still be resilient enough to face the challenges the pandemic is bringing to the economy.Moody’s Investors Service has downgraded Indonesia’s banking industry outlook, along with 11 other countries in the Asia Pacific region, to negative from stable over concerns of rising credit costs and declining profitability as the pandemic is disrupting the global economy.“The coronavirus outbreak has weakened global demand and is increasingly disrupting domestic economic activity,” Moody’s wrote in a report published on April 2.last_img read more

Magician on Wales’s list

first_img Press Association The Breeders’ Cup Turf winner won last month’s Mooresbridge Stakes at the Curragh but was unable to reel in Noble Mission in the Tattersalls Gold Cup on his latest appearance. Jim Bolger has Leitir Mor, Parish Hall and Trading Leather in contention, but the star of the show is last year’s stunning Prix de l’Arc de Triomphe heroine Treve. The French filly was narrowly beaten by Cirrus Des Aigles on her seasonal reappearance in the Prix Ganay, but is a hot favourite to strike on her British debut under Frankie Dettori. Dank is also among 11 confirmations for the 10-furlong Group One, w hile Roger Varian has entered Hamdan Al Maktoum-owned pair Ektihaam and Elkaayed. The owner’s chief contender is the William Haggas-trained Mukhadram, who was narrowly beaten by Al Kazeem in a thrilling finish 12 months ago. Multiple Group One-winning mare The Fugue, third last year, could line up for John Gosden. Gay Kelleway’s likely outsider Zambucca completes the list. center_img Aidan O’Brien is set to rely on Magician in the Prince Of Wales’s Stakes at Royal Ascot on Wednesday. last_img read more

D-III Springfield embraces 9-year-old cancer patient

first_img Published on October 23, 2013 at 12:59 am Contact Kristin: [email protected] | @kriskross22 Facebook Twitter Google+ When Springfield (Mass.) College takes its home field, at the front of the pack is one of its most valuable team members, right next to the team captains and seniors: a 9-year-old boy, dressed in his very own uniform.Throughout the month of October, the Division III Pride is raising funds for Griffin’s Friends Children’s Cancer Fund at Baystate Health Foundation Inc. in honor of Luke Bradley. It is Breast Cancer Awareness Month, but assistant football coach Marc Riccio said the football program likes to open up its scope for more than just one form of the disease.“We like to just bring awareness to everybody and to the whole community,” Riccio said. “We brought him on the team. He has his own jersey. Sometimes, we’ll go to his school. We send him letters. He really is a member of our football team.”Bradley suffers from a form of cancer and with the help of Team Impact, a college sports adoption program for kids with life-threatening illnesses, the Pride football team has taken the boy in as their own.This time, though, the football program decided to “draft” Bradley. They gave him his own media day, and set up a press conference with all of the players and coaches in attendance. They even made him sign a contract that promised that he would eat breakfast, make his bed, listen to his parents and do well in school.AdvertisementThis is placeholder text“We gave him a locker in the locker room, and we put his name up on the scoreboard,” assistant coach Cody Flanigan said. “We tried to show him how important he was going to be to our program.”On Oct. 12, the Pride played its annual Breast Cancer Awareness Day game, this year against Hobart. Each year, the football team raises funds for a different cancer research organization.This year, Springfield decided to donate the money raised through selling pink T-shirts and souvenir helmets to the foundation where Bradley regularly receives treatments. Currently, he is in remission for his cancer.Bradley regularly comes to team practices and trains alongside the players. Sometimes he calls plays from the playbook, other times he is called on to tackle in a scrimmage.For games, Bradley is there for the coin toss and is in charge of taking the tee off of the field after kickoff. Then, he stands and cheers from the sidelines, often next to teammate and running back Andrew Alty.When Bradley was first adopted by the team, Alty had more one-on-one time with him than others because Alty was sitting out due to an injury. Since then, the two have developed a close relationship.“At first, he’s pretty shy, but once you get to know him, he’ll talk your ear off. He’ll say whatever comes to his mind, whatever is funny,” Alty said. “He’s really positive. If people are feeling down, then they’ll see him and they’ll cheer up.”Because Bradley goes to an elementary school a half an hour away, he doesn’t make it to all of the team’s practices. Sometimes, though, the team comes to him instead. The players have gone to play with him at recess or read a story to his class.They’ve built a strong bond with each other since the beginning of the football season, making him as much a part of the team as possible. And they’ve raised just less than $1,000 for his treatment center, still with a week to go in the month of October.“He does just as much for our guys, if not more than what we’re doing for him,” Flanigan said. “Our guys don’t understand, but they have an idea of kind of what he goes through on a daily basis with those treatments.“Our guys are learning a lot from him. It’s pretty special.” Commentslast_img read more