Symptoms of a currency crisis? (Part 1)

first_imgToday’s article seeks to set the stage for a scholarly discussion on the symptoms of a currency crisis in the context of whether the Guyanese economy is experiencing any such symptoms at this point in time and what are the likely consequences of such. A currency crisis may be defined as a speculative attack on the foreign exchange value of a currency, thereby leading to sharp depreciation or forcing authorities to sell foreign exchange reserves and raise domestic interest rates to defend the currency (Glick, 2011). Analysts and other public commentators alike have often times highlighted the state of the international foreign reserves held with the central bank which has been depleted over the years. As the data illustrated in the tables above revealed, foreign reserves held with the Bank of Guyana declined from US825.2M in 2012 to US$506.8M as at the end of the first quarter in 2018, representing a depletion in the reserve of US$318.4M over this period or 38.5%. At the same time, the total banking system net foreign assets deteriorated by US$251.2M or by 24 % over the same period.Space precludes further discussions on this topic for today hence, next week the author shall continue this discussion by using today’s article and data from the illustrations presented as the basis. In this regard, the broader dimensions and economic problems in Guyana’s context will be examined.*The Author is the holder of a MSc. Degree in Business Management, with concentration in Global Finance, Financial Markets, Institutions & Banking from a UK university of international standing.last_img read more

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CR7 mum stopped with Sh6.01m in bag

first_img0Shares0000The mother of Cristiano Ronaldo, the highest-paid footballer in the world, was stopped by Spain’s civil guard from returning home to Portugal with 55,000 euros in her handbag.MADRID, June 9- The mother of Cristiano Ronaldo, the highest-paid footballer in the world, was stopped by Spain’s civil guard from returning home to Portugal with 55,000 euros (Sh6,061,805.31) in her handbag, it emerged Monday.Dolores Aveiro, the Real Madrid star’s 61-year-old mother, had been waiting to take a flight out of Madrid late April when her hand luggage was inspected and the cash discovered, a spokeswoman for the Civil Guard said. The 55,000 euros ($62,000) was way over the 10,000 euros (Sh1,102,146.42) that passengers are allowed to take out of Spain without declaring the transfer.The offending 45,000 euros (Sh4,959,658.89) were seized, pending justification for it from Aveiro, the spokeswoman said Monday.Ronaldo’s mother, who is very close to the Portuguese international, committed no offence but merely an infraction, she added.Ronaldo is the highest-paid footballer in the world, according to Forbes magazine, which estimated his 2014 income at $52 million (46 million euros).0Shares0000(Visited 1 times, 1 visits today)last_img read more

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DONEGAL WOMEN IN BUSINESS TO LAUNCH NEW WEBSITE AND ONLINE DIRECTORY

first_imgTONIGHT at the Clanree Hotel in Letterkenny, the women in Business in County Donegal will launch their fresh new brand, website & online directory and host an evening of “Meet the Donegal Women in Business” showcase. The network committee would like to extend an invitation to anyone who would like to come along on the evening.The event, which will be officially launched by Minister Joe McHugh, is FREE of charge & there will be a large number of businesses networking & displaying on the night. There are some spaces still available and if you are interested in coming along or having a stand on the night, call Rachel on 0749160735 or email info@donegalwomeninbusiness.com.We will have ladies from all industry sectors & of all age groups sharing their experiences with you about how the network benefits them and the networking on the night will be invaluable.Donegal Women in Business was set up 14 years ago to support all women who work in business and who own or manage a business in the county.With over 200 members, the Network is all about helping their members succeed. It supports members by: Giving shared learning and best practice through regular seminars and workshops, providing opportunities for businesses to promote themselves, being a source of information, holding regular networking events, enabling members to build up useful business contacts. The network run a number of seminars/workshops/breakfast meetings throughout the year. It’s not all work though, the Network also runs a number of social events, which provide a welcome diversion from daily business life and are a great way to have some fun while getting to know other members!The Network is open to all women with an interest in business. If you are interested in joining the Network, please contact: Rachel Wasson, Denise McClintock or Grace Ann McGarvey by email to info@donegalwomeninbusiness.com or follow us on Facebook and on Twitter. Looking forward to seeing you there. DONEGAL WOMEN IN BUSINESS TO LAUNCH NEW WEBSITE AND ONLINE DIRECTORY was last modified: October 13th, 2014 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)last_img read more

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Hungary 0-4 Belgium: Eden Hazard excels as Red Devils reach quarter-finals

first_img1 Eden Hazard celebrates scoring Belgium’s third goal Eden Hazard put in a magnificent solo performance as Belgium secured a 4-0 victory over a resilient Hungary side to book a clash against Wales at the Euro 2016 quarter-finals.The Chelsea winger rounded off the win 10 mintues from time, having seen Toby Alderweireld open the scoring early on, and Michy Batshuayi all-but secure the result one minute prior to the third goal.Yannick Ferreira Carrasco netted in second half injury time to end the game as a rout, but Hungary leave France having captured the imagination of watching fans from the world over.The victors had the best of the first half, although they came under threat in what was arguably the most open game at the Round of 16 stage.Alderweireld’s opening goal came after a number of early chances, Lukaku and De Bruyne both going close as the Hungarian defence failed to cope with wave after wave of attacks.And it was De Bruyne who set the goal up, curling a free-kick into the area which Alderweireld headed home past the flailing Gabor Kiraly.It was no less than the Red Devils deserved, and the provider almost turned goalscorer moments later, forcing a save from Kiral with a powerful low shot.Belgium were dominating, but it was not all their play with the Magyars threatening occasionaly.Thibaut Courtois almost watched the ball roll into his own net when miskicking a back-pass, before claiming a wonderful Lovrencsics cross out the air as Szalai looked to convert.Dzsudzsak then had a low attempt saved by Courtois, and it was claer there was a lack of cutting edge amongst Bernd Storck’s team.Kiraly was their star man in the opening period, following up his early saves with an exceptional stop 10 minutes from the end of the half.De Bruyne sent a close range free-kick curling towards the right-hand post, but the veteran stopper was up to tip it onto the bar, watching on as Lukaku sent the rebound over.Somehow, the second half became even more open than the first, Hazard forcing another fine stop from Kiraly seconds from the restart.Szalai then shot over from the right side of the box, before creating the best chance the Hungarian’s had enjoyed in the game.Lively playmaker Dzsudzsak sent in a cross from the left, which the Hoffenheim man headed towards goal, watching the ball flick of Vermaelen’s body and fly agonisingly wide of the near post.It was a good spell for the Magyars, but 10 minutes in they started to lose control of the game, Belgium growing in dominance once again.De Bruyne dragged a shot wide of the post and Nainggolan fired high from outside the box, although Courtois was all that prevented Hungary grabbing an equaliser against the run of play – tipping Pinter’s deflected strike over the bar.Considering Belgium were leading, and were registering a number of chances, Marc Wilmots made the strange decision to replace Romelu Lukaku with Michy Batshuayi.However, the substitution paid off, the 22-year-old tapping home Hazard’s cross with his first touch just moments later to double the lead.That all-but secured their quarter-final spot, but the influential Hazard decided to cap his wonderful solo performance with a strike of the highest quality, dribbling from the left and sending a curling finish past Kiraly.The game was over, although Hungary looked keen to grab a consolation goal; Szalai firing over from close range when he should have hit the back of the net.The goal didn’t come, and the Magyars were dealt a further blow, Carrasco converting from just inside the box seconds from the final whistle.last_img read more

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Arsenal linked with Brazilian duo as Copa America star may leave, plus more

first_imgThe transfer window is set to open on Friday, July 1 and Arsenal are set for a busy one.Granit Xhaka has already arrived in a £30million move from Borussia Monchengladbach, but there is surely set to be more business done by Arsene Wenger.The Frenchman will be keen to better 2015/16’s second place finish and to do so he will need to bolster his squad, which needs some additions.So, what is the latest gossip? Click the right arrow above to find out the most recent Arsenal transfer rumours… 6 6 6 Gabriel Jesus (Palmeiras) – European clubs, including the Gunners, have been given a boost as they look to land the 19-year-old forward. His agent Christian Simoes has revealed moving continents would be ‘fantastic’ for the player but insisted Palmeiras ‘won’t give any discounts’. David Ospina – Relegated to back up following Petr Cech’s arrival at the Emirates, Besiktas are offering the Chilean an escape route out of Arsenal. An impressive Copa America campaign means interest is high in his signature and the Turkish side could make a £3m bid after originally baulking at the sum. Gabriel Barbosa (Santos) – Nicknamed Gabigol, due to his scoring exploits, the 19-year-old is interesting the Gunners but they will have plenty of rivals, including Serie A side Fiorentina who have bid £25m for his services. He was part of the Brazil squad who were recently humbled at the Copa America by Peru. Gonzalo Higuain (Napoli) – The Argentine striker has just two years left on his contract in Serie A and his agent has revealed he will not be putting pen-to-paper on a new deal at the club. President Aurelio De Laurentiis has, though, insisted the only bid that will be accepted is one which meets his release clause. 6 Sofiane Boufal (Lille) – Click the right arrow above for more Arsenal transfer rumours… – According to the Guardian, Arsenal, along with Chelsea and Southampton are going to hold talks with the player’s agent as they ponder a move for his services. Reports in France suggest Antonio Conte wants the player at Chelsea but the Gunners and the Saints are willing to scupper this deal, with the player valued at £25m. 6 Hector Bellerin – Juventus have confirmed the signing of Dani Alves, and now rumours are surfacing again Barcelona will move for Hector Bellerin to replace the outgoing Brazilian. The right-back has three years left on his current contract and Arsenal may be buoyed by the news the Catalan giants’ sporting director Robert Fernandez has revealed he wants to see Aleix Vidal, Sergi Roberto and Douglas. 6last_img read more

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Jamie Carragher: Steven Gerrard didn’t fancy MK Dons job, but he WILL be a boss

first_img Steven Gerrard and Jamie Carragher Steven Gerrard’s move into management is only “a matter of time” according to former team-mate Jamie Carragher.The ex-Liverpool and England captain is understood to have turned down the chance to take over at MK Dons after his playing contract with the LA Galaxy expired.Carragher, a close friend of Gerrard, believes the opportunity came too soon after his move back from the United States but he thinks it will not be that long before the 36-year-old does take his first steps in management.“I don’t think that’s going to happen now going there, I just don’t think he fancies it (MK Dons),” Carragher said during a Twitter Q&A on Sky Sports’ Monday Night Football show.“He’s turned it down now but the fact he spoke to a club shows it will only be a matter of time.“I just think it’s come too early; six or 12 months down the line there would have been a good chance of it happening.“I don’t think he is fully ready yet. That’s not to say he couldn’t do the job but maybe he wants to see if he can get more experience and he is still getting his coaching badges.”Gerrard has not yet made any decision on whether he wants to extend his playing career for a while longer or take up coaching full-time.Liverpool manager Jurgen Klopp has previously stated there will always be a place for him back at his former club.Although a specific role has never been mentioned a position at youth team level would be most likely should Gerrard decide to go back.But Carragher felt the fact his long-time friend was already looking at first-team options elsewhere was a credit to his former team-mate.“I think it’s great he’s making noises about going into management,” he added.“We’ve all been criticised for not going into that and going on TV if you like.“If he’d have taken the job it would have been a good decision in terms of the club.“Alex Ferguson always used to say ‘Don’t pick your club, pick your chairman’.“That chairman (Pete Winkleman) gave Karl Robinson plenty of time, gave Roberto Di Matteo and Paul Ince a chance.“I think the chairman more than the club probably would have enticed him.“But he’s only just got back from the States, his family didn’t go over fully so it would be a big move to move down to Milton Keynes with the kids in school, that type of thing.” 1last_img read more

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Chelsea to close Drinkwater deal, Wimmer set for Stoke, Mustafi joining Inter?

first_imgHere are the top transfer-related stories in Monday’s newspapers…Liverpool have made an enquiry to sign Monaco’s Thomas Lemar for a club record fee of £55million. (talkSPORT)Chelsea will continue negotiations with Leicester City over a move for Danny Drinkwater. The Premier League champions have offered £25m for Drinkwater but the two clubs’s valuations are still too far apart for agreement and Leicester are understood to want something approaching £40m. Chelsea remain hopeful that a deal can be struck in the next few days. (Daily Telegraph) Crystal Palace are delaying selling winger Andros Townsend to Leicester City while they continue to assess the knee injury to Wilfried Zaha. (Daily Mail)After being dropped to the bench against Liverpool, Arsenal defender Shkodran Mustafi looks set to join Inter Milan. Mustafi arrived at the Emirates Stadium last August in a £35million move from Valencia, but now looks set for a loan move. (Daily Mail)Kevin Wimmer is due in Stoke ahead of a medical on Monday and £18million move from Tottenham. Stoke have agreed a deal with Spurs made up of an initial £15m fee with a further £3m due in add ons. (Daily Mirror)Jurgen Klopp has left open the possibility of Divock Origi going out on loan – if Liverpool get some new arrivals in the last few days of the transfer window. (Liverpool Echo)Chelsea forward Loic Remy is wanted by Spanish side Las Palmas and Italian side Cagliari. (Daily Mail)West Bromwich Albion have made a £10million move for Fenerbache’s Josef de Souza. The 28-year-old is a defensive midfielder who has three caps for his country and can also fill in at right-back. (Daily Mail)Celtic are expected to announce the re-signing of Manchester City winger Patrick Roberts on Monday. (Daily Mail)Former Liverpool goalkeeper Pepe Reina appeared to bid farewell to Serie A side Napoli in the wake of their 3-1 win over Atalanta. The 34-year-old has been linked with a move to French giants Paris Saint-Germain and after their victory on Sunday, the ‘keeper waved to supporters at Stadio San Paolo. (Daily Mail)Swansea City will offer £13million for Wilfried Bony at Manchester City and are keen on Bournemouth’s Benik Afobe. (Daily Mail)Dwight Gayle could be on his way out of Newcastle as Rafa Benitez prepares to sell him to raise funds for new signings. (The Sun)Fulham are trying to pip Middlesbrough to Brentford’s Spanish midfielder Jota. The Bees have set an asking price of £8million, with Boro having failed with a bid of £4.5million. (The Sun)last_img read more

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Rugby: Finn Valley Rugby Club compete at U12 blitz in Randalstown

first_imgPictured are the seven girls ae who took part in their first Rugby blitz at U-12 level for Finn Valley Rugby Club in Randalstown recently.Most of them didn’t know what a scum was six weeks ago!Not only did they take part, but in three matches they narrowly lost the first one 6-5 to Ballymoney, drew the second match 5-5 with Ballymena and triumphed 6-4 against Banbridge in the final match. Believe it or not, they wanted to play more after that.  Definitly a team to watch for the future.Rugby for all as well as beginners are on Saturday morning at the Finn Valley centre Stranorlar.Boys aged 9-12 at 10.00am and girls 9-12 at 11.00am or Contact Allen McCrea 0863325955Rugby: Finn Valley Rugby Club compete at U12 blitz in Randalstown was last modified: November 5th, 2019 by Shaun KeenanShare 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)last_img read more

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Ron Goldman’s father sues O.J. Simpson

first_imgINDIANAPOLIS (AP) – Ronald Goldman’s father sued O.J. Simpson on Tuesday, seeking any money the former NFL star received for a canceled book deal and TV interview that told a hypothetical tale of how he would have killed his ex-wife and Goldman. The federal lawsuit filed in California by Fred Goldman’s Indianapolis-based attorney accuses Simpson of “fraudulent conveyance” and alleges that he created a shell corporation that received at least $1.1 million as part of the TV interview and book, titled “If I Did It.” Attorney Jonathan Polak said Lorraine Brooke Associates was created in March using the middle name of Simpson’s two children. The lawsuit calls it a “sham entity” formed to defraud Ron Goldman’s relatives by preventing them from claiming any of more than $38 million Simpson owes the family from a judgment against him in a wrongful death lawsuit. Goldman’s lawsuit seeks about $1.1 million plus punitive damages, although Polak said he believed Simpson has already spent the money he received from News Corp., the owner of Fox Broadcasting and publisher HarperCollins. Polak said the lawsuit’s true aim is to determine how the book and TV interview deals were reached. “The question in this lawsuit is not about what’s in their bank account right now,” he said. “The issue is, can we unwind this series of transactions and hold those we believe truly are responsible accountable financially?” Polak said he believes Judith Regan – who was fired last week as a publisher by HarperCollins – and Rupert Murdoch, owner of News Corp., need “to come clean” on their knowledge of how Simpson was reimbursed for the deal. Andrew Butcher, a News Corp. spokesman, said he could not comment on the possibility of Murdoch being deposed. He said News Corp. has been working with Goldman’s family to answer questions about the book deal. “From the very start, we’d offered every assistance to the family of Ron Goldman. Any information they have asked for regarding the contracts for the Simpson book, we have given them,” Butcher said. Polak said he has asked News Corp. to destroy all copies of the book, as well as copies of the interview with Fox that was to have aired. He also wants News Corp. to assign all rights to those books and interviews to the Goldman family. Butcher said News Corp. has destroyed all copies of “If I Did It” but objected to the request to assign the rights to the Goldmans. “You don’t own the rights to someone’s book in perpetuity,” he said. “It doesn’t work that way. It’s more complicated.” Simpson told The Associated Press last month that he took part in the project solely for personal profit and acknowledged that any financial gain was “blood money.” Simpson would not say how much he was paid in advance, only that it was less than the $3.5 million reported. He said the money already has been spent, some of it on tax obligations. Messages seeking comment were left Tuesday with Simpson’s attorney, Yale Galanter. Simpson was acquitted of criminal charges in the 1994 killings. In 1997, a civil court jury, using a lesser standard of proof than is required at a criminal trial, found Simpson liable for Nicole Brown Simpson’s and Goldman’s stabbing deaths. The jury ordered him to pay about $19.7 million to Goldman’s family – an amount Polak said has grown to more than $38 million with interest. Fred Goldman said in a statement that he was eager to learn who worked with Simpson on the deal. “We will not stop until we are able to shine the light of truth on those that acted in concert with him,” he said. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWhicker: John Jackson greets a Christmas that he wasn’t sure he’d see160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

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Leading journalist claims Zaha won’t join Everton this summer – despite £55m bid

first_img Wilfried Zaha may well be staying at Crystal Palace this season Getty Images ‘I’ll get him’ – Robertson further endears himself to fans with revenge vow to Mane latest However, no bids were received from clubs in Europe’s elite competition, with Arsenal the only side to show a serious interest at first.After Unai Emery saw a £40million offer for the Ivory Coast international rebuffed, Sky Sports News claimed on Sunday morning Everton made a bid of £55million for the winger.But King revealed on the Weekend Sports Breakfast just how far the deal is from being completed.“With Zaha, I’ve got to be truthful and tell you what I’ve heard,” he said. “I’ve heard that it’s not a deal that is going to happen. getty images gameday cracker Wilfried Zaha scored against Arsenal in a 3-2 win late last season “I think Zaha would be a huge outlay for Everton, never mind the transfer fee, the wages and agent fees and whatever.“I think that would take it close to £100m, it just isn’t the transfer fee you know.“And I’m not sure, if they need five players, they’re not going to use all of it on one.”Zaha’s move to the Gunners also seems unlikely given how quickly a deal for Nicolas Pepe has progressed. revealed scrap Sky Sports presenter apologises for remarks made during Neville’s racism discussion MOST READ IN FOOTBALL SORRY The average first-team salaries at every Premier League club in 2019 PAYBACK LATEST Gerrard launches furious touchline outburst as horror tackle on Barisic sparks chaos deals Boxing Day fixtures: All nine Premier League games live on talkSPORT Wilfried Zaha is NOT going to move to Everton in the summer transfer window despite reports of a £55million bid from the Toffees.That’s according to Dominic King, the North-West correspondent for the Daily Mail, who told talkSPORT ‘a deal is not going to happen’.The Crystal Palace winger stunned Eagles supporters at the end of last season by revealing his desire to leave Selhurst Park and ply his trade for a Champions League side. Liverpool news live: Klopp reveals when Minamino will play and issues injury update Arsenal transfer news LIVE: Ndidi bid, targets named, Ozil is ‘skiving little git’ 2 Man United transfer news live: Haaland ‘wants a change’, two players off in January 2 According to reports, the Lille winger is preparing to undergo a medical ahead of a £72m move to the Emirates.Napoli had agreed a deal with Lille in order to bring the Ivory Coast international to Serie A, but Arsenal hijacked the deal on Saturday morning.Reports suggest the 23-year-old will pocket £105,000-a-week in north London, joining Gabriel Martinelli, Dani Ceballos and William Saliba in putting pen to paper at the Emirates this summer.last_img read more

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