Brazil World Cup grounds up for sale following cash flow problems

first_img Brazils World Cup stadium in Natal is up for sale as the company that owns it is suffering from cash flow problems following a corruption scandal.Natals Dunas arena is being sold by owner Grupo OAS, with the company also trying to sell the 50% share it owns of the Fonte Nova arena in Salvador.The company has struggled for months with the impact of a corruption investigation at state-controlled oil company Petrobras, which undercut the builders access to financing.An economic downturn, government austerity and a slumping currency has also taken its toll, leading to Grupo OAS to announce it is selling its stakes in football venues and other businesses to focus on the core construction business.OAS spent $187m (£126.2m) on completely rebuilding the old Fonte Nova arena in Salvador and $134m on the new Dunas arena. The Fonte Nova hosted six games in the 2014 tournament and the Dunas arena four.The announcement was the latest in a string of bad news for Brazilian football post-World Cup.Earlier this week Esporte Club Bahia, one of the biggest clubs in Salvador, said they were abandoning plans to use the Fonte Nova because they felt the owners did not respect their fans. Closelast_img read more

Karnataka SSLC Results 2019 Amused Twitterati ask how Haasan Ramanagara topped chart

first_img22Kodugu78.8180.68 (18)77.09 (9)78.93 (18)86.90 (18) 7Managaluru86.7385.56 (4)82.39 (2)88.01 (3)89.35 (8) Hassan first in #SSLCResult2019How?????Kids:students and teachers effortsMens:Rohini sinduri mam planLegends: Revanna Anna nimbus effect#SSLC #SSLCResult2019 Hassan from 7th place to 1st place Ramnagar from 17th place to 2nd place. Not only me, everyone are shocked seeing this. Looks Suspicious !! ಏನಲೇ ಪಾ ಇತರಾಗು ಪೋಲಿಟಿಕ್ಸ್?? Karnataka #SSLCResult2019 6Chitradurga87.4680.85 (16)72.64 (19)73.19 (29)85.95 (19) 27Bagalkote75.2872.70 (25)64.53 (33)85.71 (7)77.20 (30) 25Vijayapura77.3683.23 (9)72.23 (20)70.57 (31)75.70 (31) 16Kopal80.4580.43 (19)76.05 (11)75.92 (26)71.91 (33) 33Raichur65.3368.89 (29)69.69 (30)82.19 (11)87.03 (17) 5Udupi87.9788.18 (1)84.23 (1)89.52 (2)93.37 (1) 20Chikkaballapur79.6968.20 (31)70.13 (28)80.92 (14)82.58 (27) RankDistrict20192018201720162015 12Sirsi84.6778.06 (21)80.09 (4)85.24 (9)91.52 (4) 15Chamrajanagar80.5874.46 (24)75.66 (12)75.59 (27)89.04 (11) 4Uttara Kannada88.1288.12 (2)79.82 (5)87.84 (4)92.87 (3) 9Davanagere85.9481.56 (15)75.33 (14)78.43 (19)87.15 (16) Sudeep shetty‏ @sudeeps58085243 34Yadgiri53.9535.54 (34)74.84 (16)68.57 (32)85.06 (22) 18Tumkur79.9282.97 (10)68.15 (32)76.10 (23)88.96 (12) 19Haveri79.7576.76 (23)70.46 (26)74.55 (28)85.59 (21) Rahul‏ @Raul98126235 CM of #Karnataka is from #Hassan, so that district topped the state….!! Currently he is an MLA from #Ramanagara , so that district topped second! Hence, Where there is Kumaranna, that place emerge at the top of table! #hdk #stateresult #SSLCResult2019 #SSLCResults2019 #sslc 2Ramanagara88.4980.78 (17)78.55 (6)81.74 (12)89.62 (7) 14Chikkamagaluru82.7672.47 (26)74.40 (18)86.29 (5)83.91 (26)center_img 24Belagavi77.4384.77 (6)71.20 (25)81.09 (13)87.39 (14) Hassan and Ramanagara dist as toppers. This shows this CM has not even left the education system clean. Corruption in ever corner. Mr CM dont play politics on SSLC Results. Never expected CM can utilize his powers to this level. Shame on u CM 26Bang North76.2177.37 (22)71.44 (24)80.52 (15)84.90 (23) 1Haasan89.3384.68 (7)69.58 (31)75.94 (24)87.21 (15) 32Bang South68.8372.03 (27)69.92 (29)72.80 (30)78.50 (29) Indudhar haleangadi @Amchi_dosth Sunil Bariyanda‏ @Sunil_Bariyanda 31Gadag74.0567.52 (32)75.62 (13)64.09 (33)66.74 (34) 3Bang Rural88.3482.17 (14)77.03 (10)89.63 (1)91.10 (5) 17Mysore80.3282.90 (11)72.03 (21)85.56 (8)89.13 (10) 11Madhugiri84.8185.55 (5)71.84 (22)80.25 (16)88.12 (13) Rahul Bekanalakar‏ @RahulMurgod Hassan 1st.. Ramnagara 2nd something fishy #SSLCResult2019 29Bidar74.9660.71 (33)62.20 (34)75.93 (25)80.24 (28) 21Shivamogga79.1378.75 (20)75.07 (15)77.57 (22)85.71 (20) 23Bellari77.9882.73 (12)74.65 (17)56.68 (34)84.70 (24) 8Kolar86.7183.34 (8)78.51 (7)78.19 (20)89.20 (9) Durga Ramdas Kateel‏ @durgaramdas Karnataka SSLC Result 2019 results declared [Representative Image]NARINDER NANU/AFP/Getty ImagesKarnataka SSLC results are out and Haasan and Ramanagar have landed in the first and second places in 2019 district-wise ranking list. Karnataka Chief Minister HD Kumaraswamy hails from Haasan district and was elected as the MLA from Ramanagara constituency. His connection with both the areas has fuelled rumours on social media.Karnataka Secondary Education Examination Board (KSEEB) had conducted the SSLC (Secondary School Leaving Certificate) examinations in March and April and 8.41 lakh students had appeared for the class 10 exams. On Tuesday, the board declared its results and the total pass percentage stood at 73.70.The pass percentage of the SSLC in 2018 was 71.93. Many people across the state are happy with this increase in class 10 results. But what has surprised some is the top spots in the district-wise rankings of pass percentages.Haasan and Ramanagara, which never made it to the top five ranks, have landed in first and second spots in the district-wise rankings of SSLC results this year. This development has amused some social media users, who feel something fishy about the ranks and CM Kumaraswamy’s link.Some took to Twitter to express their doubts and concerns. Scroll down to read some Twitter comments.Here is the table detailing the SSLC pass percentage and (ranks) of various districts in the last five years.RankRankDistrictDistrict2019201920182018201720172016201620152015Rank1DistrictHaasan201989.33201884.68 (7)201769.58 (31)201675.94 (24)201587.21 (15)Rank2DistrictRamanagara201988.49201880.78 (17)201778.55 (6)201681.74 (12)201589.62 (7)Rank3DistrictBang Rural201988.34201882.17 (14)201777.03 (10)201689.63 (1)201591.10 (5)Rank4DistrictUttara Kannada201988.12201888.12 (2)201779.82 (5)201687.84 (4)201592.87 (3)Rank5DistrictUdupi201987.97201888.18 (1)201784.23 (1)201689.52 (2)201593.37 (1)Rank6DistrictChitradurga201987.46201880.85 (16)201772.64 (19)201673.19 (29)201585.95 (19)Rank7DistrictManagaluru201986.73201885.56 (4)201782.39 (2)201688.01 (3)201589.35 (8)Rank8DistrictKolar201986.71201883.34 (8)201778.51 (7)201678.19 (20)201589.20 (9)Rank9DistrictDavanagere201985.94201881.56 (15)201775.33 (14)201678.43 (19)201587.15 (16)Rank10DistrictMandya201985.65201871.57 (28)201771.73 (23)201677.98 (21)201589.78 (6)Rank11DistrictMadhugiri201984.81201885.55 (5)201771.84 (22)201680.25 (16)201588.12 (13)Rank12DistrictSirsi201984.67201878.06 (21)201780.09 (4)201685.24 (9)201591.52 (4)Rank13DistrictChikkodi201984.09201887.01 (3)201780.47 (3)201686.00 (6)201593.32 (2)Rank14DistrictChikkamagaluru201982.76201872.47 (26)201774.40 (18)201686.29 (5)201583.91 (26)Rank15DistrictChamrajanagar201980.58201874.46 (24)201775.66 (12)201675.59 (27)201589.04 (11)Rank16DistrictKopal201980.45201880.43 (19)201776.05 (11)201675.92 (26)201571.91 (33)Rank17DistrictMysore201980.32201882.90 (11)201772.03 (21)201685.56 (8)201589.13 (10)Rank18DistrictTumkur201979.92201882.97 (10)201768.15 (32)201676.10 (23)201588.96 (12)Rank19DistrictHaveri201979.75201876.76 (23)201770.46 (26)201674.55 (28)201585.59 (21)Rank20DistrictChikkaballapur201979.69201868.20 (31)201770.13 (28)201680.92 (14)201582.58 (27)Rank21DistrictShivamogga201979.13201878.75 (20)201775.07 (15)201677.57 (22)201585.71 (20)Rank22DistrictKodugu201978.81201880.68 (18)201777.09 (9)201678.93 (18)201586.90 (18)Rank23DistrictBellari201977.98201882.73 (12)201774.65 (17)201656.68 (34)201584.70 (24)Rank24DistrictBelagavi201977.43201884.77 (6)201771.20 (25)201681.09 (13)201587.39 (14)Rank25DistrictVijayapura201977.36201883.23 (9)201772.23 (20)201670.57 (31)201575.70 (31)Rank26DistrictBang North201976.21201877.37 (22)201771.44 (24)201680.52 (15)201584.90 (23)Rank27DistrictBagalkote201975.28201872.70 (25)201764.53 (33)201685.71 (7)201577.20 (30)Rank28DistrictDharwad201975.04201882.21 (13)201777.29 (8)201685.71 (10)201584.54 (25)Rank29DistrictBidar201974.96201860.71 (33)201762.20 (34)201675.93 (25)201580.24 (28)Rank30DistrictKalaburgi201974.65201868.65 (30)201770.24 (27)201679.02 (17)201574.97 (32)Rank31DistrictGadag201974.05201867.52 (32)201775.62 (13)201664.09 (33)201566.74 (34)Rank32DistrictBang South201968.83201872.03 (27)201769.92 (29)201672.80 (30)201578.50 (29)Rank33DistrictRaichur201965.33201868.89 (29)201769.69 (30)201682.19 (11)201587.03 (17)Rank34DistrictYadgiri201953.95201835.54 (34)201774.84 (16)201668.57 (32)201585.06 (22) 30Kalaburgi74.6568.65 (30)70.24 (27)79.02 (17)74.97 (32) 10Mandya85.6571.57 (28)71.73 (23)77.98 (21)89.78 (6) 13Chikkodi84.0987.01 (3)80.47 (3)86.00 (6)93.32 (2) 28Dharwad75.0482.21 (13)77.29 (8)85.71 (10)84.54 (25)last_img read more

Money laundering in Dubai will be difficult for Indians now read to

first_imgRepresentational image of cash theft.PixabayDubai has planned to impose a new value-added tax (VAT) which will not only make money laundering more costly but compliance with the tax regulations will also leave a paper trail.The United Arab Emirates (UAE) will commence the new VAT regulation from January 1, 2018, at the rate of 5 percent and other Gulf Cooperation Council (GCC) members which include Kuwait, Saudi Arabia, Oman and Qatar will also impose the VAT but a year later, Economic Times reported.According to Economic Times, for years, paper transactions between the newly formed companies in UAE were shown as genuine business deals to legitimise undisclosed, untaxed income.Soon after changing black money to white money, the funds collected were then parked with banks in Dubai or invested in other countries or would come back to India as foreign direct investment in the Indian companies.Now such transactions from one company to the other will now attract a VAT of 5 percent. Further, the entities will also have to maintain a regular book of accounts for any transactions.”Besides higher cost of operations on account of VAT, entities in Dubai will be forced to maintain regular books of accounts. This will enable UAE authorities to monitor their activities and track the transaction trail,” said Dilip Lakhani, senior chartered accountant.”Till the time other creative and ingenious ways are discovered, VAT can go a long way in curbing money laundering,” he added. How does money laundering happen?The money laundering typically includes a chain of companies. For instance, firm A which receives funds through undisclosed and untaxed income initially transfers the money to firm B on the grounds of false invoices. Then, firm B, in turn, enters into a similar deal with firm C.Once the money is transferred to firm C, companies A and B shut down to remove the trail and no records would remain to find out if the companies actually existed.However, now with the implementation of the new tax system on transactions, this easy transferring of money will not be possible due to VAT registration and tax payment records of A and B that will always remain as a proof even if the companies cease to exist. An artist’s impression of Dubai’s “The Tower” that would be the world’s tallest tower. [Representational Image]Emaar Properties/Handout via REUTERSFurther, according to recent reports even European Union’s (EU) finance ministers adopted a blacklist of 17 jurisdictions deemed to be tax havens, including UAE and Bahrain in an attempt to fight worldwide money laundering.The countries on the blacklist are barred by EU institutions for any international financial transactions and also any transactions involving them could be subject to closer scrutiny.”There will be some amount of disruption in UAE starting Jan 2018. Considering that UAE has been blacklisted by EU, all steps are being taken to comply very seriously with various guidelines,” said Mitil Chokshi, senior partner at chartered accountant firm Chokshi & Chokshi.last_img read more

Houston City Council Approves Funding For Buyouts Of Homes That Flooded In

first_imgAlvaro ‘Al’ Ortiz/Houston Public MediaThe Houston City Council has approved an agreement with Harris County that will allow its Flood Control District to buy out several houses that got flooded during the Memorial Day flood of 2015.The Houston City Council approved Wednesday an agreement with the Harris County Flood Control District to provide it with up to $10.6 million in federal funding it has at its disposal so that the District buys out about 57 houses that were flooded during the Memorial Day flood of 2015.The homes are located in the neighborhoods of Braeburn Glen, Glenburnie and Cashiola, and Langwood.According to the City, these neighborhoods are low and moderate-income areas.The buyouts will be voluntary and, after the houses are demolished or removed, the properties could be repurposed as parks, gardens and playing fields.Additionally, the goal of the buyouts is to restore the floodplains to their natural function for stormwater storage.Houston Mayor Sylvester Turner talked about the agreement with the County after the City Council’s meeting and said that “there are thousands more homes that are subject to buyouts.”“We need to do it, handle it,” added Turner “in a very strategic fashion, and we need to kind of factor in all of the strategies that will be required to make the city more resilient.” Sharelast_img read more

In The Trade War With China Texas Is On The Front Lines

first_img Share “There are businesses in Texas that have been quite clear that the additional costs they’re going to face from these tariffs will mean they’re going to have to curtail investment, they will have to potentially lay off workers, and ultimately, they’ll have to pass on those prices to consumers in some form or fashion,” Banning says.But the effects will be felt beyond businesses who trade with China, Banning says.“Really, no corner of Texas is going to be untouched by this,” he says “if this trade conflict lingers.”Written by Shelly Brisbin. U.S. Department of Lbor/Wikimedia Commons (Public domain)Toyota’s Texas manufacturing plant.U.S. tariffs on Chinese goods took effect at midnight, Friday. China immediately announced its own tariffs in response. As a trade war between the U.S. and China heats up, Texas meat producers and other exporters are due to take a hit.KUT-Austin’s Mose Buchele reports on how a good deal for consumers is a bad one for sellers of Texas beef and pork. He says Texas doesn’t export much beef to China, because U.S. beef was banned there until last year. But China does eat a lot of pork from the U.S. With China levying tariffs on U.S. pork, less of the meat will be exported, and its domestic price will go down. Cheaper pork means a good deal for consumers, especially in comparison to beef. If we eat more pork, we’re likely to buy less beef, and that’s bad for Texas cattle producers.Tom Benning, Washington bureau reporter for the Dallas Morning News told Texas Standard Host David Brown that it’s worth remembering China has taken actions in the past that have hurt U.S. businesses and earned enmity across the political spectrum.“In recent years, China has flooded the global market with excess steel,” Banning says “and that’s where we get these steel and aluminum tariffs that have been in effect for a few months now. And we’ve documented the impact on Texas and beyond. Second… Most everyone agrees with President Trump that China has long flouted conventions on trade practices, whether it’s with intellectual property rights or other issues.”Despite Chinese provocation, many, including Gov. Greg Abbott, oppose the new tariffs on Chinese goods. And at least one Texas company, Sim-Tex, is suing the Trump administration over the tariffs.Banning says Texas is the number one exporting state in the U.S. Harris and Tarrant counties are among the five counties nationwide with the greatest exposure to fallout from the trade war.last_img read more