Australian Open | Djokovic defeats an injured Federer and will play his 8th final

first_imgNole and Roger settled their 17th confrontation in majors, fifth in Melbourne, in situations of bodily inequality and that was decisive. The Swiss arrived very punished, with greater than 12 hours of play and very exhausting video games wherein he was about to lose, whereas the highway to the Belgrade idol had been simpler and had lasted nearly two hours and a half much less. Federer knew it and tried to shock him out with an aggressive, nearly suicidal recreation that labored for him whereas he held his physique. He dazzled an viewers, as all the time delivered to his determine, and put himself with a hopeful 4-1 begin and then an thrilling 5-2, though Djokovic put issues in his place by profitable three straight video games and matching the sport. The tiebreaker was reached and Federer’s resistance ended. The following two units have been dominated by the winner, with a break in every of them. Let’s see who stops him now. He goes for his eighth title in Australia, the 17th Grand Slam and by the way, to attempt to recuperate the primary, which will be his if he wins on Sunday. Outcomes of the boys’s workforce of the Australian Open. Chapter 50 of one of many best rivalries within the historical past of tennis, which is maintained by Novak Djokovic and Roger Federer For 14 years after they first met in Monte Carlo, he was very conditioned by the bodily state of the Swiss. He arrived with doubts in regards to the discomfort in his proper thigh that ballasted him in his match in opposition to Tennys Sandgren, when he raised seven match factors to maneuver to the semifinals of the Australian Open. “Most respect for Roger for going out to play in the present day, as a result of he was clearly injured, “Djokovic stated after profitable in three units (7-6 (1), 6-4 and 6-Three in 2h: 18) to the winner of 20 Grand Slams, who will not be capable to add 21 this 12 months in Melbourne. The Serbian will play for the eighth time the final of the event in opposition to Dominic Thiem or Alexander Zverev, who will face this Friday (09:30, Eurosport). The match for the title will be Sunday on the similar time. Djokovic is already the participant who has most occasions reached the final spherical of main aussie, forward of Bromwich, Crawford and Emerson, who did it seven occasions. It will be the 26th of the Balkan in Grand Slams. His victory, as well as, was the 30th in opposition to a top-5 in matches of the very best degree, greater than anybody in historical past, forward of the 29 of Federer and Nadal.last_img read more

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Thompson embracing new responsibility

first_imgMONTE CARLO, Monaco:With several of the island’s top female sprinters nearing the end of their careers, double sprint champion at this year’s Olympic Games, Elaine Thompson, says she feels an added sense of responsibility to continue Jamaica’s sprinting success.Thompson won gold medals in the 100m and 200m in Rio de Janeiro to pick up from the 200m bronze that she took home a year earlier at the World Championships in Beijing to shoot to the top of international female sprinting, making her the latest in a line of world-beating Jamaicans.”Looking back at all the sprinters that we have had over the years, we have always dominated, and so to be that upcoming person, I do think I have a responsibility,” Thompson told reporters ahead of last night’s IAAF Athletics Awards here.”Everybody wants to be Elaine, and I know I have a lot to do and a lot to deliver. I am a motivation to the children, who I know are looking up to me, so I know I have to be that person. Everyone was looking up to Shelly (Shelly-Ann Fraser-Pryce) and Veronica (Campbell-Brown), and now they are looking up to me, and so I know I have that responsibility,” Thompson said.Motivated to work harderThe sprinter, who also topped the Diamond Race for the 100m title last season, underlined that athletes like Fraser-Pryce and Campbell-Brown played a significant role in motivating her to push towards her athletics ambitions and is cognisant that her success will have a similar impact on those to come.”I always wanted to do track and field, and to make the Olympic team was also a big dream. I look up to so many athletes such as Veronica Campbell-Brown, Merlene Ottey, Shelly-Ann Fraser-Pryce, and also being among so many talented people at the MVP Track Club, which has so many Olympic medalists there, made me also want to be like them, to be hungry; it motivated me to work harder,” Thompson said.The 24-year-old pointed to a change in lifestyle, such as less partying, and the guidance of her coach Stephen Francis as the turning point in her career.”The Elaine I was two years ago, I am not the same Elaine right now. I am a role model, now so everyone is looking up to me, so my life has changed in that sense. I’m can’t go anywhere that I feel like or do certain things because all eyes will be on me so I have to be careful of the things I do and say,” said Thompson.Thompson became only the seventh woman in history to win an Olympic sprint double with her winning time of 21.78 seconds being the third-fastest winning time at the Games.last_img read more

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GAA CHAMPIONSHIP: ST MICHAELS AND FOUR MASTERS DRAW AS NAOMH CHONAILL OVERCOME BUNDORAN

first_imgSt Michaels and Four Masters must do it all again after the sides drew 0-9 to 0-9 at O’Donnell Park this afternoon.A last minute point from Michael Doherty salvaged a replay which is due to take place at MacCumhaill Park next Wednesday.St Michaels will be the more disappointed as they failed to capitalise on a 0-6 to 0-3 lead. There was controversy when Barry Monaghan was dismissed after getting a second yellow card and will miss the replay.Naomh Conaill easily overcame Bundoran 1-10 to 0-5 with a goal from Brick Molloy.The seaside team did rally in the second half with three points in succession but Martin Doherty’s side never really in trouble.Glenties now join Dungloe in the semi-final draw after they beat Glenswilly at O’Donnell Park yesterday afternoon. The third team in the semi-final pool will be known after St Eunans and Killybegs do battle in he second game at MacCumhaill Park. GAA CHAMPIONSHIP: ST MICHAELS AND FOUR MASTERS DRAW AS NAOMH CHONAILL OVERCOME BUNDORAN was last modified: October 14th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:bundoranfour mastersGAA ChampionshipNaomh ChonaillSt Michaelslast_img read more

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Liverpool starlet leaves Anfield to join French club on loan

first_imgLiverpool starlet Sheyi Ojo has signed a new contract with the Merseyside club, before joining French club Reims on a season-long loan.The 21-year-old has left Anfield for the fourth loan move of his Reds career. All the best at @StadeDeReims this season.👊https://t.co/r6Y0MFBtUi— Liverpool FC (@LFC) August 30, 2018Now the England Under-21 cap will fight for regular action at French club Reims, who have six points from their first three Ligue 1 matches.Born in Hemel Hempstead, Ojo first attracted attention as a young teenager in the MK Dons academy, before switching to Liverpool aged 14. He previously enjoyed spells with Wigan, Wolves and Fulham.Ojo has made 13 first-team appearances for Liverpool, scoring once.A statement on Liverpool’s official website read: “Sheyi Ojo has today signed a contract extension with Liverpool and joined Stade Reims on loan for the remainder of 2018-19.” 21-year-old Sheyi Ojo will spend this season in Ligue 1 center_img 1 Getty Images – Getty last_img read more

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Plants Are Clever

first_imgThey may be stuck in the ground, but plants know how to get what they need.  How do creation and evolution explain this?Plants and DesignSunscreen:  “They bask in the sun for hours, but just like us, plants need to protect themselves from damaging ultraviolet rays,” a piece in New Scientist begins.  “Now we know how they do it.”  Science Daily describes what Purdue scientists found:Biochemical tests have shown that plants produce special molecules and send them to the outer layer of their leaves to protect themselves. These molecules, called sinapate esters, appear to block ultraviolet-B radiation from penetrating deeper into leaves where it might otherwise disrupt a plant’s normal development.Dimmer switch:  Plants are able to quickly switch their photosynthesis machinery between sunny and shady conditions.   How fast? “Switching on a dime,” PhysOrg says.  Even a passing cloud demands that “The response has to be extremely swift.”  How is it carried out?  It involves several stages.  The first stage was shown by researchers at Carnegie to involve a protein named KEA3 as part of the “built-in machinery” to handle fast switching:Under full sunlight, the energy from excess absorbed photons is intentionally dissipated by the plant as heat. But if the incident light is blocked by a cloud, the plant must switch from dissipating excess photons as heat to harvesting as many photons as possible. Advanced analytical techniques demonstrated that KEA3 acts to accelerate the switch from the full-sunlight-adapted mode to the shade-adapted mode. This rapid response to light intensity makes the first stage of photosynthesis more efficient.Metamorphosis:  We all know about the dramatic change from caterpillar to butterfly, but plants undergo a metamorphosis of their own.  Described in Current Biology, the changes in leaf shape as a plant grows from embryo to adult was thought to be an example of Haeckel’s Biogenetic Law or Recapitulation Theory, i.e. that an organism relives its evolutionary history as it grows (“Ontogeny recapitulates phylogeny”).  Wrong; that idea “fell out of favor,” Daniel H. Chitwood writes.  Instead, it’s due to a carefully choreographed process, involving those little RNA molecules that were hardly understood a decade ago:A new study by Rubio-Somoza et al. reported in this issue of Current Biology mechanistically links the developmental clock and leaf morphogenesis through small RNAs and their targets, explaining the characteristic increases in serration and complexity of successive leaves seen so often in plants.Somehow, these regulatory molecules are tied to the developmental clock like triggers on a timing device.  The small RNAs regulate not only individual leaves, but leaf shape changes over time.  This finding opens up whole new areas for research, Chitwood concludes.  If evolution plays any role in changing leaf shape over eons, it seems to do it independently of this “feed-forward mechanism,” he says; “evolutionary changes in overall leaf shape versus timing-dependent changes may be separate.”Probiotics:  Plants can use a little help from their microbes, too.  Scientists at the University of Washington found through controlled experiments that microbes help plants, from grasses to tall trees, withstand pesticide toxins, PhysOrg reports.  Harmless microbes called endophytes take up residence in the inner tissues of plants:In nature, endophytes have a welcomed, symbiotic relationship with plants. In polluted soil, for instance, if the right endophytes are present they consume toxins coming up through plant roots. The endophytes get fed and the plant gets help neutralizing pollutants that could kill it.The scientists found this interesting; “Our approach is much like when humans take probiotic pills or eat yogurt with probiotics to supplement the ‘good’ microbes in their guts.”Reverse engineering function:  Students and professors at Louisiana State U figured out the relationship between two enzymes involved in photosynthesis.  Once again, evolution was never mentioned in the PhysOrg report as essential to understanding their research.  “Without photosynthesis or oxygen, basically all recognizable life that we see in our landscape would be gone: no animals, no plants,” one professor said.  In order to understand the “mechanics” of photosynthesis better, the team found out how two enzymes, PsbP and PsbQ, interact.  The grad student used store-bought spinach for the lab experiments.  Once they identified the enzymes, they designed a computer model to study the interaction.  A pithy analogy with a designed artificial machine helped the team understand the process that gives life to the world:The two proteins are like parts of a car that enable oil to reach the engine. In plants, the “oil” is calcium and chloride and the “fuel” is water and sunlight. The structure of PsbP and PsbQ facilitates the efficient use of calcium and chloride in a plant, enabling it to produce oxygen.Their paper made it into the Proceedings of the National Academy of Sciences.  Did the abstract mention evolution?  Yes—but only in the sense that living plants “evolve” (i.e., emit) oxygen every day through their photosynthetic machines.  Their research, focused on structure and function, provides “a framework for understanding the organization of these subunits within the higher plant photosystem.”Plants and EvolutionSeveral recent news items discussed evolution.  Has anything been found to demonstrate increases in genomic information in plants that Darwinism requires to distinguish it from creation?Salt tolerance:  Researchers at Utah State studied the salt tolerance and drought resistance of different species of maple trees, primarily for the purpose of understanding which ones could thrive better in brackish habitats, such as cities where treated waste water is used for irrigation.  If evolutionary theory was useful to them, they didn’t mention it in PhysOrg‘s press release.  After all, the maples are still maples; even creationists would agree that organisms can vary within their kind.  A similar study on salt tolerance among popular varieties of daffodils was performed at Loyola University, PhysOrg says, for similar purposes, and with similar conclusions.Color changes:  Pentstemons are red, penstemons are blue; evolving red color is irreversible, too.  What does it take to evolve a red flower from a blue one?  According to Oxford University researchers reported by PhysOrg, it involves breaking things.  Knocking out a single enzyme caused the vivid blue color of one species to turn red over time.  But the process is like Humpty Dumpty:While blue can change to red, in this case, evolution always drives down a one-way street, as reverse changes of red to blue are not observed.“Evolutionary shifts from blue to red flowers in Penstemon predictably involves degeneration of the same particular flower pigment gene, suggesting there are limited genetic ‘options’ for evolving red flowers in this group,” said Wessinger. “However, it is lot [sic] easier for evolution to break a gene than to fix one, so we suspect that reversals from red to blue flowers would be highly unlikely.“The scientists described 13 varieties of red flowers that “occurred by independent evolutionary events, showing a relatively simple, predictable genetic change behind the evolution from blue to red penstemons” – in other words, the red species broke the blue enzyme in different ways.  There are more ways to break an engine that to build one that works, for sure.  While the experiments explain how the red variety came to be, it doesn’t explain how the blue enzyme originated in the first place.Evolutionary potential:  Go forth and evolve, invaders!  Another article on PhysOrg reports that after centuries of change, some invasive weeds have still not evolved to their full potential (whatever that might be).  In this first-ever project to track the evolution of an introduced species, Australian scientists think that the Oxford ragwort is getting better at thriving in its new habitat, but let’s face it; it’s still the same species it was over 200 years ago.  Only its location has changed.Genome duplication:  When the cows munch, duplicate!  Gene duplication is often touted as a major means of driving evolution (especially in plants), but evolution didn’t get much mention in a piece on Science Daily.  “Their study is the first to show that a plant’s ability to dramatically rebound after being cut down relies on a process called genome duplication, in which individual cells make multiple copies of all of their genetic content.”  In other words, duplication appears to be a built-in response to stress, according to scientists at the University of Illinois who “pondered its purpose.”  Duplication allows the plant to respond more vigorously after being cut down or chewed on; “The researchers suspected that genome duplication was giving the plants the boost they needed to overcome adversity.”  This newfound “purpose” seems poised to give geneticists a new way to look at genomes.  Maybe those extra copies of the genomic library indicate that a species was stressed out in the past.Forest evolution:  “Tracing the evolution of forest trees” is the headline of an article on PhysOrg.  Don’t expect to learn much about evolution in it.  The information provided by the National Science Foundation begins with this embarrassing admission by evolutionist Elizabeth Stacy at the University of Hawaii:There are at least 60,000 identified tree species in the world, “but we know next to nothing about how they got here,” Elizabeth Stacy says. “Trees form the backbone of our forests, and are ecologically and economically important, yet we don’t know much about how speciation happens in trees.”Wasn’t speciation the puzzle that Charles Darwin solved?  Even though Stacy thinks that her state of Hawaii is “like its own planet, its own evolutionary experiment,” her findings were more about ecology and conservation than evolution.  “To really think about long-term conservation, we need to be aware of these evolutionary processes,” she said, more as a sermon than a science presentation.  It’s not clear why evolution, a blind, pitiless, indifferent process, would cause human beings to care about trees, if people evolved, too.In order to appear busy in her outdoor Darwin laboratory, Professor Stacy used genomic divination “to try to unravel the very shrouded evolutionary history of Metrosideros in Hawaii,” not thinking that the most ardent creationist would have no problem with variation among “closely related trees” within a created kind.  Thinking like Darwin apparently gives her happy feelings as she passes on the faith to the next generation.  “Because we are in this amazing evolutionary laboratory, I think we excel in engaging our students with authentic research experiences outside.”This explains why most evolutionists are political liberals.  We reported a psychologist’s conclusion that liberals operate more on emotion than reason, compared to conservatives (11/09/14).  We have just seen Elizabeth Stacy swooning with rapture over evolution, even though the design features of living things are beyond her comprehension. It would only take a few minutes to show her a video clip about ATP synthase, the molecular machine that spins at 23,000 RPM in the leaves of those trees, to force her to confront the reality of complex specified information.  Would that hard data bring her out of her Darwin trip?  Unlikely.It’s not clear, moreover, why an evolutionist would get chills over Darwinism.  What does she think on her pillow at night?  “All this beauty and variety and apparent design came about by blind, pitiless indifference; isn’t it wonderful!”  Sweet dreams. (Visited 59 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

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New university ‘a milestone for SA’

first_img20 September 2013 South Africa is about to start building its first new university since 1994. The Sol Plaatje University in Kimberley in the Northern Cape will welcome its first students in 2014, marking a milestone in the transformation of education in the country. Construction of the R6-billion university is set to start this month and is expected to be completed by 2015. Speaking at the official launch of the university on Thursday, Higher Education and Training Minister Blade Nzimande said the institution would be “a powerful symbol of the country’s democracy, inclusiveness and growth. “Sol Plaatje University is an integral part of government’s programme of expanding access to higher education and growing knowledge production and the innovation capabilities of our nation,” he said. The university is expected to enrol about 5 000 students, starting with about 150 students during the first intake in January 2014. Lecturers and students will have access to the most advanced communications platforms and processes, with well-equipped libraries, knowledge resources and laboratories forming part of the university’s research and scientific infrastructure to support its niche areas of specialisation. According to the Department of Higher Education and Training, one of the university’s specialisations will be heritage studies, including interconnected academic fields such as museum management, archaeology, indigenous languages and restorative architecture. Intellectual, journalist, linguist, politician, translator and writer Sol Plaatje (1876-1932), whom the university is named after, was the author of Mhudi (completed in 1920, published in 1930), the first novel by a black South African. He was also a prominent campaigner for the rights of black people, and a founder member and first general secretary of the South African Native National Congress, which would become the African National Congress (ANC). Sol Plaatje is one of two new universities being developed in the country – work is also under way on Mpumalanga University, which will have campuses in Nelspruit and Siyabuswa. South Africa currently has 23 universities. These include six universities of technology, which focus on vocationally oriented education, six comprehensive universities offering a combination of academic and vocational diplomas and degrees, and 11 traditional universities offering theoretically oriented university degrees. However, none of these is located in either Mpumalanga or the Northern Cape, making these the only provinces in the country that are not home to a university. Source: SAnews.gov.zalast_img read more

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Cow size: Increasing mature body weight of the United States cow herd

first_imgShare Facebook Twitter Google + LinkedIn Pinterest There has been a 30% increase in cow mature size over the last 30 years. From 1975 to 2015, cow numbers have decreased by 35%, but beef production has been maintained at a level similar to 1975. In response to the low cow numbers, carcass weights have increased. These relationships suggest that the progeny of small cows, similar to the weights observed in the 1950s and 1960s, would not have the potential to produce the carcasses necessary to maintain beef production at the current level with the number of cows currently in the national beef cow herd, unless they take part in a postweaning growing period.This phenomenon is explained by the increased productivity per calf in the progeny of the United States cow herd. The average hot carcass weight in 2014 was 38% greater than 1975, averaging 870 pounds in 2014 compared with an average hot carcass weight in 1975 of 630 pounds.Use of growth promoting technology has contributed to a portion of the increase in carcass weight. Anabolic implants increase ADG by 21%, body weight at slaughter by 128 pounds, and hot carcass weight by 55 pounds. Additionally, β-adrenergic agonists increase body weight at slaughter by 18 to 24 pounds but increase hot carcass weight by 35 to 42 pounds. These growth promoting technologies only account for about 97 pounds of the 240 pounds increase in hot carcass weight, thus much of the increase in beef production per calf is likely linked to the use of EPDs and genetic selection for greater yearling weights, which in turn increases mature size. Beef production is more efficient because of technology advances in growth promotants, feed milling, and feed additives in the last 30 years.The average cow slaughter weights have increased from 1,047 pounds in 1975 to 1,369 pounds in 2005. This increase in cow bodyweight is tied to the genetic changes of the cow herd. For instance in the Angus breed the average yearling bodyweight of bulls and heifers has increased by 7.9 and 5.7 pounds per year since 1972 and selection for yearling body weight and weaning body weight have strong correlation with mature size.A 30% larger cow requires 22% more daily maintenance energy and will consume 22 to 28% more forage dry matter daily, decreasing cow carrying capacity of the farm or increasing input costs associated with pasture management, supplementation, and stored forages. Increased hay production and grazing strategies An indication of increased intensification of cow-calf production is displayed by the increased hay production over the last 40 years. The increased use of the round baler and other hay production technologies since the early and mid-1970s has lowered the labor requirement and increased the convenience of hay production and thus the total amount of hay produced. The OARDC-EARS research station at Caldwell was a location for much of this research (Check out Page 83 of this 1972 OARDC Research Summary). At the same time, forage management strategies (stockpiling and strip grazing) were being developed to reduce reliance on stored forages for wintering beef cows (Check out Page 1 of this 1970 OARDC Research Summary).Environment and cow size Research from the 1960s and 1970s indicates that in limited resource environments (Western Plains States for instance), the reduced efficiency of larger cows may be a limiting factor to the economics of production, whereas in less restricted environments (higher rainfall environments such as the humid states or in Dry Lot Feeding Systems.) mature cow size may not be a significantly limiting factor. ImplicationsIntensification has occurred through increased feeding of hay and stored forages, which increases the expense of maintaining the cow herd due to machinery, fuel, labor, and fertilizer costs. There are forage management strategies that can be used to reduce or replace the need for stored forages. For example, rotational grazing increases harvest efficiency of grazing livestock and can help maintain plant populations of clovers or other desirable forage species that lack persistence under continuous grazing management. Stockpiling of perennial pastures during the late summer for use during the fall and early winter can be utilized. Readers can checkout other grazing strategies at the OSU Forage Team Website.last_img read more

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Championship Title Icing on Cake for Atherton Committee

first_imgOne of North Queensland’s smallest affiliates came up trumps against two of North Queensland’s strongest in two divisions last weekend at the 2013 North Queensland Open & Senior Regional Championships in Townsville, as Atherton’s Women’s Over 34 side claimed the title in their division with a spectacular 3-2 victory over Townsville Castle Hill, and the Atherton Women’s Open side earned a hard-fought victory over Gordonvale 6-5 to claim the Women’s Open Tier 2 title.After mixed results during early round games while combined with the Women’s Under 26 division, including an 11-1 loss to Townsville’s Women’s Under 26 side and a 5-1 victory over Mackay’s Women’s Over 34, the strength and experience of the Atherton Over 35’s side led them to a confrontation with division heavyweights Townsville Castle Hill on Sunday afternoon.The Atherton Women’s Open side weren’t so lucky, having a rough time finding points during round games, but eventually meeting a young but experienced Gordonvale side in the final of the Tier 2 division.The victories were all-the-more sweeter for Atherton, knowing that not only is it the first time that sides from Atherton have attended the annual NQ Championships since 2010 but that they came from an affiliate of less than three hundred players.After an absence from the annual NQ Championships since 2010, Atherton not only fielded the winning Women’s Under 34 and Women’s Open Tier 2 sides, but also fielded a Men’s Over 39 side who narrowly missed out on a spot in their division’s final, thanks in no small part to the efforts of a devoted committee that has worked tirelessly over the last few years to return strength to the representative levels of the sport in the Tablelands area.Adding to the glory of the Women’s Under 34 title, Atherton referees Karli Riesen and Adam Hogan were recognised for their efforts on the weekend, receiving Most Promising Female and Male referee awards respectively.Thank you to Kerrod Hall from North Queensland Touch for providing the content.Related LinksIcing on Cake for Athertonlast_img read more

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19 days agoJuventus boss Sarri: Maybe people thought I was dumb…?

first_imgAbout the authorCarlos VolcanoShare the loveHave your say Juventus boss Sarri: Maybe people thought I was dumb…?by Carlos Volcano19 days agoSend to a friendShare the loveJuventus boss Maurizio Sarri says he’s proving himself flexible after victory over Inter Milan.Sarri had started the game with the 4-3-3 he made his trademark at Napoli and Chelsea, but moved to a 4-3-1-2 at Juventus – similar to the Empoli model.He stated, “Maybe people thought I was dumb… They just had to pay attention. I started with a system at Empoli, then changed it completely. I went to Napoli with one system and transformed it for three years.“I went to Chelsea and played what looked similar, but was in fact a completely different interpretation of it. You have to adapt your tactics to the characteristics of the players.”Sarri fielded Gonzalo Higuain, Paulo Dybala and Cristiano Ronaldo together, but only for nine minutes.“At that moment, we were dominating the game and it would’ve been unjust in my view not to win, so we tried that out for a little while.“However, I got the sensation from the touchline that the momentum was turning the other way, so I changed again.” last_img read more

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CEO says PCDF has Accomplished Mission

first_img “We are extremely proud of our accomplishments and the contribution that the Fund has been able to make to Jamaica’s overall development in all areas,” the CEO said. Chief Executive Officer (CEO) at the PetroCaribe Development Fund (PCDF), Dr. Wesley Hughes, says the PCDF has accomplished its mission, and will be integrated into the Ministry of Finance and the Public Service as of March 31, 2019. Speaking at a JIS ‘Think Tank’ on March 15, Dr. Hughes said that all assets and a small amount of liabilities will be transferred to the Ministry, and the Fund, as a separate entity, will cease to exist. Story Highlights Chief Executive Officer (CEO) at the PetroCaribe Development Fund (PCDF), Dr. Wesley Hughes, says the PCDF has accomplished its mission, and will be integrated into the Ministry of Finance and the Public Service as of March 31, 2019.Speaking at a JIS ‘Think Tank’ on March 15, Dr. Hughes said that all assets and a small amount of liabilities will be transferred to the Ministry, and the Fund, as a separate entity, will cease to exist.“We are extremely proud of our accomplishments and the contribution that the Fund has been able to make to Jamaica’s overall development in all areas,” the CEO said.“We are most proud of our contribution to the debt buy-back arrangement in 2015, and the significant reduction of the debt-to-GDP ratio as a result of that operation, which contributed greatly to the macroeconomic stabilisation of the country,” he added.The CEO explained that Jamaica had a debt to Venezuela of approximately US$3.2 billion, and through the Ministry, the Government negotiated with Venezuela to repay US$1.5 billion, almost 50 per cent discount.For his part, Investment and Treasury Manager, PCDF, Bob Russell, said that during the life of the loan, the PCDF has been 100 per cent successful in repaying the Petroleos de Venezuela South America (PDVSA) debt, having never missed a single loan payment.He highlighted, further, that PDVSA even sent officials to look at Jamaica’s debt management model, as it was one of the most successful models within the PetroCaribe agreement.The Fund, which was established in 2006 as a Public Body, was dedicated to lending to self-financing public bodies for human capital development, offering assistance to the Ministry of Finance for domestic debt refinancing as well as lending to reduce Jamaica’s dependence on fossil fuel.Additionally, the CEO stated that another mandate of the Fund was the provision of grants for housing, school sanitation, assistance to children in the inner-city communities and investment in infrastructure, such as the Port in Falmouth; renovation of the Norman Manley International Airport and the downtown markets, and Highway 2000.The Fund’s establishment resulted from an agreement between Venezuela and a group of countries in the Caribbean and Central America due to the significant increase in oil and the attempt to find a way to ameliorate the impact of this increase on these countries.last_img read more

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