Settlement payout for Caicos Pride Day Boat Seafood Pelagic Fish Study halted

first_imgMinisters advised His Excellency the Governor to approve a settlement payment in respect of losses that both companies claimed they had incurred as a result of TCIG suspending a 2 year pelagic fishing research study in 2014. Cabinet met yesterday and it was determined that we owe Caicos Pride Products Ltd and Day Boat Seafood LLC financial compensation for cancelling the pelagic fish study. Related Items: Facebook Twitter Google+LinkedInPinterestWhatsAppA major payout is now due because TCIG reneged on an arrangement and it will cost tax payers likely a heap of money. Facebook Twitter Google+LinkedInPinterestWhatsAppcenter_img Additionally, the CDB, Caribbean Development Bank was in country and in Cabinet and presented on the Medium Term Development Strategy for TCI. The Turks and Caicos has qualified to borrow up to $100 million from the CDB. The Governor, during that Cabinet meeting, was also asked to endorse the Crown Land allocation to 36 Turks and Caicos Islanders who were successful in ballots drawn on April 29 2016. The Department of Environment and Maritime Affairs or DEMA had previously granted those companies a research permit; a House of Assembly vote led by the PDM ended the study. No settlement figure was given.last_img read more

CBS Viacom to reunite in merger that creates roughly 30B company

first_imgStar Trek: Discovery is one of CBS’ flagship streaming series. CBS All Access CBS and Viacom, two television programming companies that split more than a decade ago, finalized a merger deal Tuesday to recombine, creating a single entity with about $30 billion in market value. The new company, which will be called ViacomCBS, brings brands like CBS and Showtime together with the likes of Nickelodeon, MTV, BET, Comedy Central and Paramount. A CBS-Viacom reunion is the latest in a wave of mergers and acquisitions of traditional media companies, as they try to come to grips with the scale of their emerging competitors in the tech world. Netflix and YouTube dominate eyeballs online, and companies like Apple and Amazon, with market caps hovering around $1 trillion, are delving more deeply into video programming. In response, legacy media companies are consolidating to bulk up. Following megadeals like AT&T buying Time Warner and Disney taking over Fox, CBS and Viacom become the latest to turn to M&A as they face a changing landscape where streaming’s on the rise and traditional pay-TV is slipping. (Disclosure: CBS Corp. is the parent of CNET.)During a call with analysts, executives said they hoped to bulk up CBS All Access with kids programming from Viacom, which owns Nickelodeon. Executives added that they continue to like the idea of pricing CBS All Access under $10 a month because they remain interested in driving up subscribers. One of the key motivations for combining, they said in a joint release, was streaming video. CBS and Viacom said a merged company would be in a better position to accelerate a “direct-to-consumer” strategy — industry jargon for streaming services that don’t involve any traditional TV distributor like a cable company. The companies collectively operate CBS All Access and Showtime’s streaming option, along with Pluto TV (a free streaming TV service in the US) and newcomers such as CBSN, ET Live and niche players like Noggin. They noted that the merger could give them opportunities to expand their streaming internationally. The companies also said their merger will improve opportunities in advertising and deals with distributors and create a stronger player to license their catalog to other platforms worldwide. The companies said they expect the deal, which still needs to win regulatory approval and clear other conditions, will close by the end of this year. Viacom shares will be converted into shares of CBS, with CBS shareholders owning about 61% of the combined company, and Viacom the rest.Viacom’s head, Bob Bakish, will lead the combined company as president and CEO, while CBS’s leader, Joe Ianniello, will serve as chairman and CEO of CBS proper. “Our unique ability to produce premium and popular content for global audiences at scale — for our own platforms and for our partners around the world — will enable us to maximize our business for today, while positioning us to lead for years to come,” Bakish said in a statement. Originally published August 13, 12:23 p.m. PT.Update, 2:25 p.m. PT: With comment from executives on call. Comments Tags TV and Movies Digital Media Share your voice 7 CBS Viacomlast_img read more

Railway Budget Row Ends PM Accepts Dinesh Trivedis Resignation

first_imgPrime Minister Manmohan Singh has accepted Dinesh Trivedi’s resignation as Railway Minister.The Prime Minister told the Parliament Monday that he regretted the exit of Trivedi. “Dinesh Trivedi presented a good Railway Budget. I regret his departure from the cabinet. I am forwarding Trivedi’s resignation to the President,” he said. He said that the new Railway Minister would be inducted soon.Dinesh Trivedi resigned as the Railway Minister Sunday evening after speaking to Trinamool Congress party chief and West Bengal Chief Minister Mamata Banerjee.Trivedi received lot of flaks from his party colleagues for presenting a bold Railway Budget March 16, wherein he hiked passenger fares across all classes ranging from two paise to 30 paise per km, the first hike in a decade. Angry over the fare hike, Mamata faxed Prime Minister Manmohan Singh to sack him immediately.Mukul Roy, Rajya Sabha MP and Minister of State for Shipping, will replace Trivedi as the Railway Minister.last_img read more

Air India to launch new flights to Washington Stockholm Tel Aviv and

first_imgGovernment-owned carrier Air India plans to launch new flights to Washington D.C. (USA), Tel Aviv (Israel), Stockholm (Sweden) and Africa. The airline is yet to give time schedule for when the flights will be launched. Air India’s Chairman and Managing Director Ashwani Lohani said that the airline will receive six Boeing 787 aircraft and three 777, which will join Air India’s fleet next year, The Hindu reported. The carrier requires the new aircrafts to launch international flight operations to USA, Israel and Sweden. Air India has re-launched a new app, which would allow passengers to book flight tickets, check-in and manage every aspect from their mobile devices. The app has been developed by SITA. Using the new app, passengers can obtain their flight boarding pass on their smart phones, the app developer said in a statement. In addition, the passengers would receive regular flight updates, and they could use the app for mobile boarding. From December 1, the carrier will start its Delhi-Madrid service thrice a week and is also increasing the frequency of its Bangalore-Delhi-San Francisco flight to six days a week.The new app has been termed as “sales and distribution channel for Air India. SITA has worked alongside Air India over the past few years, supporting their passenger management and distribution at every step. This new app is an extension of that relationship,” Maneesh Jaikrishna, SITA’s Vice President for India and the sub-continent was quoted as saying by the publication.The managing director said the app is a step forward to enhance earnings from e-commerce and said that the airline will soon improve its website as well. Air India market share increased 0.1 percent and the airline clocked 14.7 percent in September as against 14.6 percent in the previous month (August). It recorded passenger load factor (PLF) of 79 percent during the same month.last_img read more