Period of stability key to region’s recovery

first_imgNewsLocal NewsPeriod of stability key to region’s recoveryBy admin – November 25, 2010 487 Twitter Linkedin LIMERICK people are afraid to part with their money ahead of Budget 2011 as they don’t know how much will be left in their pockets, but with a general election on the horizon, hopes have been expressed by the local business community that such an eventuality could spark increased growth and stability in the region. Maria Kelly, CEO Limerick Chamber, insists it is “most important that the Government gets its budget and four-year plan through to meet the conditions of the IMF and the EU”.Sign up for the weekly Limerick Post newsletter Sign Up Her comments came after Taoiseach, Brian Cowen declared on Monday he will call a general election early in the new year, “as soon as the budget process has been seen through”. Noting that the within the next two years, a declining Limerick city centre and indeed, the economic picture as a whole, could see a return to growth, Ms Kelly told the Limerick Post that the reaction to the IMF has been somewhat peculiar.“We have been in free-fall for some time and we have never hit the bottom, but maybe now we have hit the bottom, and I hope that the political parties recognise the importance of seeing this process through and then let the people have their say in the new year”.However, Ms Kelly, adopting a positive stance, revealed she had spoken to many business owners who had acknowledged a substantial increase in their turnover, and she expressed confidence that 2011 could see a return for the majority of those that suffered at the front-line of the economy.This sentiment is echoed by Graham Byrnes, regional director at CPL, who says that he would welcome the announcement of the general election as he feels that Limerick is in need of representation at the Cabinet table. “We need stability here, and potential investors crave certainty if multinationals are to set up in the region, while allowing exporters to avail of opportunity.“Companies are hiring and we have seen an increase in demand to fill jobs, but this needs to grow once the size of this financial bail out is identified. Ireland and indeed, Limerick, has seen an increase in competitiveness as salaries and costs have fallen.“Now is the time for direct foreign investment to pick up an educated workforce. It is two years now since the Dell closure and with the support of grants and training stimulus packages, Limerick is getting back on its feet”.Commentators and the business community are embracing the announcement of a general election on the whole, citing a period of stability as the key to recovery. Facebook Advertisementcenter_img Print WhatsApp Email Previous articleCar reg gives sneak offender awayNext articleCouncil denounces ‘scurrilous’ local newspaper report adminlast_img read more

Brazilian mining company to take $1.6 billion charge, shift focus from thermal to met coal

first_imgBrazilian mining company to take $1.6 billion charge, shift focus from thermal to met coal FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Vale SA expects a total of US$3.2 billion in noncash impairment charges in its fourth quarter results this year, related to its New Caledonia nickel operation and its coal business.The Brazilian diversified miner said Nov. 26 that it expects reduced production from its New Caledonia mine for its remaining life, due to reliability issues related to production and processing operations, resulting in an impairment charge of approximately US$1.6 billion.In addition, technical issues have affected the expected yield of Vale’s coal business, leading to an additional impairment charge of approximately US$1.6 billion.Vale said it will implement a new mining plan for its coal business, aiming to prioritize higher quality ore in a bid to maximize the metallurgical coal share of the product mix and with a lower stripping ratio.Its Moatize coal mine in Mozambique will implement a new flow sheet following a three-month maintenance period in 2020, targeting increased plant productivity to a run rate of 15 million tonnes per year by the second half of next year.More ($): Vale outlines US$3.2B impairment in Q4’19 due to nickel, coal mineslast_img read more

Women’s basketball: Badgers contain Wittinger, snag their fourth Big Ten win

first_imgThe University of Wisconsin women’s basketball team (13-14, 4-11 Big Ten) defeated the Illinois Fighting Illini (10-17, 2-14) 75–67 Wednesday night at the Kohl Center. Senior Marsha Howard scored 27 points on only 14 shots while connecting from beyond the arc and at the charity stripe.As a freshman, Howard’s first bout with the Fighting Illini was rather forgettable. She tallied seven minutes and grabbed one rebound in what would be her only recorded stat. In that game, Illinois’ touted freshman Alex Wittinger scored 16 points on just 10 shots.But Wednesday night Howard, now a senior, put together one of her most complete performances to date.Women’s basketball: Badgers seek revenge against Illinois at home WednesdayJust ten days ago, the University of Wisconsin Women’s basketball team (12-14, 3-11 Big Ten) left Champaign, Illinois with a Read…“[I’m] just going out and giving it all I have every game knowing time is limited,” Howard said, as her collegiate career is winding down.Fellow senior Kelly Karlis praised Howard’s efforts in rallying the team, as the Badger defense started slipping at times in the fourth quarter.“Marsha really got us all together to stick as one team and get the job done,” Karlis said.At the other end, the Badgers limited Wittinger to just 10 points — the lowest scoring total of her career against Wisconsin. Juniors Ali Andrews and Brandi Beasley combined for 40 points, but the Illini bench was outscored by the Badgers 20-9.Women’s basketball: Badgers upset Spartans, fall to Buckeyes in Columbus in jam-packed weekendThe University of Wisconsin women’s basketball team (12-14, 3-11 Big Ten) scored a 79–62 Valentine’s Day upset over the Michigan Read…Wisconsin is now 4-1 in Big Ten play when they reach at least 70 points. A balanced scoring effort made 75 points possible.“Five players with nine or more, three players in double figures, Marsha with a double-double [and] Kelly with seven rebounds, just a lot of really good things,” Head Coach Jonathan Tsipis said.Wisconsin owned the glass, out-rebounding Illinois 42-27 thanks in large part to Howard’s 10 boards and freshman Imani Lewis’ 12 rebounds off the bench. Tsipis chose to start forward Abby Laszewski over the mainstay Lewis after missing the previous contest due to a death in the family.The Badgers are playing their best basketball as of late after their upset of No. 24 Michigan State and this win over Illinois, which now puts Wisconsin a half-game ahead of Penn State in the Big Ten standings, though the Nittany Lions hold the tiebreaker.Wisconsin travels to New Brunswick, New Jersey, to take on the Rutgers Scarlet Knights Monday night with only three regular-season games remaining. Rutgers has dropped three of their last five after starting Big Ten play 9-1. Wisconsin will look for another signature win heading into the Big Ten tournament.last_img read more