ATB Financials new economic outlook to show continued decline

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email ATB Financial’s new economic outlook to show continued decline Stock photo. by Jonathan Muma Posted Jul 7, 2015 7:07 am MDT The good news is Alberta isn’t technically heading into a recession, but the bad news is the economy is still sliding in the wrong direction.ATB Financial released its economic outlook Tuesday morning.The report says Alberta’s GDP will be flat, maybe 0.4 per cent this year and a big part of that is because of struggles in the energy sector.ATB Financial Chief Economist Todd Hirsch says while this downturn isn’t as deep as what we’ve seen in 2009, it may linger around longer.“The second half of the year, things have kind of stabilized a little bit at a low level, but there’s still a lot of volatility in these oil prices and that will remain a challenge for Alberta in the second half of 2015,” he said.It’s not all doom and gloom: he says other sectors like forestry, tourism and agriculture are doing very well; in fact, cattle prices are at record highs.Hirsch says he understands the challenges of people losing good paying jobs in oil and gas, but he says the province still added 38,000 new jobs over the last year.Still, the unemployment rate is expected to rise as high as 5.8 per cent next year before coming back down in 2017. read more

Wrestling Tom Ryan eyes more dual meet emphasis in NCAA

Ohio State wrestling coach Tom Ryan addresses his team after the Buckeyes’ practice on Oct. 20. Credit: Jeff Helfrich | Lantern ReporterThe television outside of Tom Ryan’s office is often set to ESPN. Inevitably, he walks by a lot of College Football Playoff talk on the sports network. And every time he hears it, he can only think of one thing — a college wrestling playoff. This idea has been more than a thought in the mind of Ohio State’s wrestling coach. Ryan has pushed for a stand-alone, dual-meet championship tournament in the NCAA, among other things. He’s even a member of the Blue Ribbon Task Force committee, which is dedicated to developing a long-term plan for NCAA wrestling. The Blue Ribbon Task Force includes members such as North Carolina State Athletic Director Debbie Yow, NCAA executive vice president of regulatory affairs Oliver Luck and Big 12 commissioner Bob Bowlsby. The task force was formed by the National Wrestling Coaches Association. “We’ve got some big dogs involved,” Ryan said. “And they all like the sport and they all see the value in wanting to move in this direction. And because they’re involved now, things can happen.”There is currently a proposal, unanimously approved by the committee, in the works that would change college wrestling to a one-semester sport that starts during December and would end about six weeks later than usual with a dual-meet tournament. The current individual championships would stay in March. The NCAA has yet to sign off on the proposal. Ryan’s reasoning for the change stems from the idea that dual meets are more fan-friendly than longer individual tournaments. He wants to attract more interest in his sport. “I think it’s spectator-friendly,” Ryan said. “An hour and a half, an hour and 45 minutes is way better than three days in a gym, or tournaments two days in a gym. I think it’s substantially more team-oriented. I think team sports are sports that our culture follows. I think it’s important for the sport of wrestling that we value the team aspect as much as the superstar aspect.”Ohio State has experience balancing individual success with team success. The Buckeyes won a team national championship in 2015 and their current roster is home to former individual national champions and an Olympic champion in heavyweight Kyle Snyder. Ryan said the proposed changes would place importance on more wrestlers in his program, due to the fact that dual-meet wins and losses would count more in preparation for a dual-meet tournament. “I think it would add more value to more people,” Ryan said. “Because, right now if you lose a dual meet, it doesn’t hurt your chance to win the national tournament. And because of that, you’re hesitant to put all your guys in when they may be banged up or not. So, because of that, it brings less value to your guys in the room.”Ryan said most of the opposition that the proposal faces involves the timing and scheduling of the hypothetical events. He said there also are differing viewpoints on how teams would be chosen for a dual-meet tournament and how many teams would be involved. The ability of wrestlers to maintain their peak performance for an entire season is also up for discussion. Redshirt senior Nathan Tomasello seemed to be all for the proposed changes. He placed value on the ability of dual meets to attract new, casual fans to the sport. “I think it’s important to make it more of a team sport and easier to follow,” Tomasello said. “If you don’t really know wrestling that well, it’s tough to follow how people get points at national tournaments.” Ryan said wrestling is one of the few collegiate sports that actually succeeds as a business model with ticket sales, and that gives the NCAA incentive to retool the sport and maximize profit. A dual meet at the Schottenstein Center between Ohio State and Penn State drew an attendance of 15,338 just last season. Ryan drew a comparison to Ohio State football fans tuning in to Saturday’s game between Penn State and Michigan because of a vested interest in the sport and the outcome of the game. That type of heightened interest is what he desires for the sport of wrestling. “We don’t have that in wrestling,” Ryan said. “And we need it. And until we get it, we’ll continue to be a sport that’s kind of status quo instead of one that’s thriving.” read more

Kibo awards second EPC power line contract for Mbeya Coal to Power

first_imgKibo Mining PLC, the multi-asset Africa-focused energy and resource company, announces that the Company has awarded SEPCO III, Kibo’s Chinese development partner, the second lot of the Engineering, Procurement and Construction (EPC) power contract involving the construction of the Power Line that will evacuate power from the Mbeya Power Plant in the Songwe District of Tanzania to the TANESCO Mbeya sub-station.Originating from the past four weeks’ intensive engagement with the Tanzania Electricity Supply Company (TANESCO) on the development of a Power Purchase Agreement (PPA) for the Mbeya Coal to Power Project (MCPP), the company met with SEPCO III at their Qingdao corporate headquarters to:Update SEPCO III on progress with PPA negotiations;Revalidate the existing EPC contract price for MCPP;Integrate and align PPA technical requirements with EPC-contract provisions; andDiscuss broader project development co-operation with the objective to expand the existing co-operation agreement to, amongst other matters, also include the company’s Mabesekwa project in Botswana.During the above referred meetings, the company and SEPCO III also decided that sufficient progress has been made with the PPA discussions and that it would be prudent to sign Lot 2 of the EPC-contract with SEPCO III. The power line construction contract is the second lot of the EPC contractual work as outlined in the announcement dated 29 August 2017. Kibo has a longstanding relationship with Chinese company SEPCO III for the development of the Mbeya Coal to Power Plant that is of key strategic importance in reducing Tanzania’s critical power deficit.Louis Coetzee, CEO of Kibo Mining, said: “We are delighted to continue working with SEPCO III as our designated EPC partner. The signing of this second lot of the EPC is the conclusion of discussions with SEPCO III that occurred last week in China, during which several strategic decisions were taken with regard to the further development of the MCPP as well as our future strategic co-operation with SEPCO III. Together with all our development partners we are working all hours to complete the PPA as soon as possible. Over the past few weeks we have once again been reminded of the significant importance of the MCPP, both as a strategic energy project as well as a socio-economic development project, and how critically important it is to spend enough time to make sure that we get it right the first time. The PPA process is in a very sensitive phase of its development and this requires the utmost patience, consideration and discretion from all stakeholders.”last_img read more