Is Ireland Brexit-ready? Inside Dublin’s bid to win financial services power from London

Monday 30 January 2017 5:00 am Share Is Ireland Brexit-ready? Inside Dublin’s bid to win financial services power from London It was reported last week, for example, that Barclays has settled on Dublin as its main hub inside the EU, with 150 jobs moving to the city.Read more: How Dublin is quietly winning the Brexit battleCharm offensiveAlthough not confirmed by the bank, news of Barclays’ post-Brexit plans will be welcomed by the Irish government, which has been working furiously in recent months to lure parts of the UK’s financial services market to the nation.Ireland’s charm offensive intensified last week when senior politicians addressed financial services bosses from across Europe and the world.Speaking at the European Financial Forum event at Dublin Castle last Tuesday, Prime Minister Enda Kenny declared Ireland “Brexit-ready”. Riding the airport shuttle bus through Dublin’s financial services centre on a sunny January afternoon, and looking forward to a pint of Guinness at the journey’s end, the prospect of the City of London losing jobs to Ireland doesn’t seem too upsetting.Located to the east of the city on the River Liffey, the financial centre is a home for the offices of Citigroup, PwC and BNP Paribas. And, with the UK heading for a hard Brexit, a number of other financial services groups could be heading for the Irish capital. William Turvill “Ireland is, and will continue to be, a committed and enthusiastic member of the European Union,” he reassured attendees. “Our people understand the many benefits that EU membership brings to our country. My message to you is that Ireland’s IFS [international financial services] sector is Brexit-ready. We are well prepared for the changes that Brexit will bring.”On the same stage as executives from Blackrock, Citigroup, Credit Suisse and JP Morgan, financial services minister Eoghan Murphy and Mary Mitchell O’Connor, minister for jobs, enterprise and innovation, pitched in as well. And finance minister Michael Noonan also made a surprise appearance at the end of the day.The message from Dublin, in a nutshell, was: We did not want Brexit. It presents challenges for Ireland. The UK will remain a global financial services hub. But Ireland’s financial services sector stands to gain from the UK losing access to the Single Market.What does Ireland want?In 2015, the Irish government set out ambitions to grow its IFS sector from 35,000 to at least 45,000 people under a scheme called IFS 2020. And the UK’s vote could provide a significant boost.“We’d be confident of getting the 10,000, and everything else that we get above that will be seen as a plus,” financial services minister Murphy tells City A.M. “There were plans to launch [IFS 2020] abroad. But once Brexit happened, we basically doubled or tripled the number of cities that we were going to hit, and the number of things that we were going to do when we were there to maximise the opportunity to talk about Ireland’s offering post-Brexit.” whatsapp Noreen Doyle, Credit Suisse vice chair, also indicated that her firm is in “the early stages of looking” at options. “Like other banks that are non-EU members, we do have to look at alternatives outside of the UK,” she said.Doyle refused to be drawn on which locations were being looked at, but Credit Suisse has experience in Ireland, having shifted prime brokerage resources from London to Dublin in 2015. She added: “So I can say that we’ve been very, very pleased with the reception that we have had in Ireland.”Read more: “Brexit-ready” Ireland sets out plans for financial services grabIs Ireland ready?Dublin is a pleasant, friendly city, the culture will be familiar to Londoners, and Guinness really does taste better in its home town. But why should companies choose the Irish capital over Frankfurt, Paris or Amsterdam?“In many ways, we think we’re an obvious choice for a firm located out of the UK,” says Murphy. “Because of things like the English-speaking language, member of the Eurozone, common law jurisdiction, similar labour laws.” Ireland is also working on improving Dublin’s school options for international incomers, building more housing and developing its commercial real estate offering.Murphy also points to Dublin’s transport links, and its close proximity to London. “We have the second busiest air route in the world between Dublin and London, it’s the busiest in Europe,” he says. “So all these factors make it so easy to relocate a portion of your business into Dublin in a seamless way to still be able to access the Single Market.”After a return flight from City Airport to Dublin, and 24 hours in the city, there is at least one hole I can pick in this argument: a train, rather than the shuttle bus or more expensive taxi option, from the airport to the centre of Dublin would be nice.“A train would be great,” admits Murphy. He says the planning and permission is in place to build one but that the funding has not yet been secured. Murphy also claims the airport bus takes 15 minutes to get to the financial services centre.In my experience, it took a little longer than that. Maybe half an hour. But this is only a small detail, and it’s unlikely to create much of a dent in Ireland’s bid to win financial services power from London. Tuesday’s conference was co-hosted by IDA Ireland, a government agency which aims to encourage international firms to invest in the country. While ministers like Murphy the nation’s push for expansion, IDA Ireland is working on the technical details behind the scenes.Kieran Donoghue, IDA Ireland’s head of IFS, reveals that the organisation has received more than 70 queries from financial services firms since June. “We’re not being opportunistic about this,” he tells City A.M. “We did not go to London in advance of June and say to groups: ‘Come to Dublin.’ We did not want a Brexit. We just didn’t believe it was in the best interests of this jurisdiction.”Who’s going?The Irish government is unlikely to be waiting long to find out whether other companies will follow Barclays into Dublin. “The [large, high-profile] companies have indicated to us that they have to take a decision by the summer,” says Donoghue.Don’t just take his word for it. James Cowles, Citigroup’s chief executive for Europe, Middle East and Africa, indicated at the conference that his firm is in the process of looking for a new home for its broker-dealer business. The firm moved the HQ of its retail and commercial bank from London to Dublin in 2015.He said the bank “will be making a decision in the first half of this year”, adding: “It’s a decision that every bank has to make and they need to do it in the first half of this year.” whatsapp read more

City of London brings out new rules to tackle wind-inducing skyscrapers

first_imgWhat was considered acceptable “business walking conditions” has now also been reclassified as “uncomfortable”, in the hope that developers will be more considerate to City workers and cyclists. City of London brings out new rules to tackle wind-inducing skyscrapers Alexandra Rogers The City of London Corporation has become so concerned about pedestrians and cyclists being toppled over in the street by the skyscrapers that adorn its skyline that it is cracking down on any potential new-builds that may cause exceptionally windy conditions at street level. The Square Mile may be famed for its financial clout and history, but in recent years it has also been known for other elements: extreme wind. whatsapp Under new guidelines, launched today, developers will be asked to test the wind impact of their new designs at the earliest possible stage, to avoid the need to retrofit wind mitigation measures, as well as carry out assessments of wind directions in wind tunnel testing.   Read more: City of London Corporation slammed for decision to ban Taiwan float from Lord Mayor’s show Read more: Bank of England boss Mark Carney pulls out of UK-China dinner Share “Wind can, in extreme cases, destabilise or push cyclists into the path of vehicles,” the Corporation said. “By testing roadways as well as pavements through wind tunnel studies or computer simulations, it is expected that the more robust assessment will lead to a safer and more comfortable urban environment for all.” David Barry, an insurance broker at Lloyd’s, said he would support the Corporation’s new measures, but added: “It’s a bit late now.”“It is incredibly windy around here, especially outside the Walkie Talkie and Cheesegrater,” he said. “There’s almost a microclimate down there. Although, in the summer, it is quite nice to have a breeze.” Tuesday 20 August 2019 10:14 am whatsapp The Walkie Talkie has been partially blamed for creating windy conditions in the City Alex Halford, an insurance underwriter who works for Liberty, said: “I’d absolutely support these measures. The wind here is ridiculous – the trees outside the Walkie Talkie fell over and had to be replaced. But it’s probably worse for the ladies trying to keep hold of their skirts.” Alastair Moss, chair of the planning and transportation committee, said: “With the number of tall buildings in the Square Mile growing, it is important that the knock-on effects of new developments on wind at street-level are properly considered. These guidelines mark another significant step that the Corporation is taking to put cyclists and pedestrians at the heart of planning in the Square Mile.” Workers near Fenchurch Street, the home of the Walkie Talkie, told City A.M. that the iconic skyscraper was one of the main culprits of the windy conditions in the City. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost FunUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndomaternityweek.comWilliam and Kate Have Been Told Their Fate Once Charles Finally Becomes Kingmaternityweek.comUndo More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orglast_img read more

German kayaker passes through Nome on attempt to circumnavigate North America

first_imgNation & World | Oceans | Outdoors | Sports | WesternGerman kayaker passes through Nome on attempt to circumnavigate North AmericaAugust 28, 2019 by Katie Kazmierski, KNOM – Nome Share:Freya Hoffmeister looking out at the Bering Sea from the shore near Nome. (Photo by JoJo Phillips/KNOM)Adding to a growing list of adventurers who passed through Nome this summer is Freya Hoffmeister, a German sea kayaker. She’s attempting to circumnavigate North America in her kayak, a trip she expects will take her 8-12 years.At Hoffmeister’s campsite at West Beach in Nome, the tide was high and creeping up on her.“The sea has lifted,” she said. “It pushes into the whole Norton Sound. I noticed that early on.”Hoffmeister arrived in Nome the evening before on Aug. 11 — not by flying into the city, but on her own, via sea kayak. Her last stop before Nome was Port Safety.A lofty goal is what brought her to this corner of Western Alaska: Hoffmeister is attempting to circumnavigate North America by kayak.This summer marks year three of a journey she expects will take her about a decade. This isn’t her first experience with circumnavigation.“(I started) small with Iceland, then New Zealand south, then came Australia as a first continent. (Then) South America, and in between, Ireland,” she said.This leg of the journey started mid-June in Kvichak Bay. Hoffmeister plans to reach at least Kotzebue before heading back home to Germany to rest for a few months. She will then pick up wherever she left off.Hoffmeister chronicles her journey in a detailed blog on her website. It covers everything, from paddling conditions, to which remote islands she’s found bear tracks on, to the temperament of her various paddling partners.One entry is from earlier in August, when a stranded Hoffmeister waited for the conditions to clear up near Stuart Island.“Day two of my unwanted asylum here… but besides boredom I had nothing to suffer,” she wrote. “I kept myself busy by changing my tent site for the third time, just 50 meters to the right… I went for another walk, this time out to the ocean, and felt happy I was on dry land when seeing the sea state…“I found blueberry bushes and feasted on them,” Hoffmesiter continued. “Not much more to tell for today…”Hoffmeister considers her blog not just a way for her followers to keep up with her, but also as source of inspiration.“Not necessarily to paddle all North America, but just go a bit longer, a bit harder, a bit wider, and just a bit more of whatever they are doing,” she said. “Just getting out of their comfort zone.”Freya Hoffmeister with kayaking partner Ross Elder, looking out at the Bering Sea. (Photo by JoJo Phillips/KNOM)The world-class kayaker is a solo voyager most of the time, though she’s traveled with various paddling partners (of various quality, she said) in her 20-plus years of experience. She met her current partner, Ross Elder, for the first time last week in Nome.Hoffmeister said she met Elder through less-than-extraordinary circumstances.“Just like anybody else: online, these days,” she said. “Through mutual friends, I kind of knew he had some experience and knew he’d be likely an OK person.”Hoffmeister sifted through dozens of interested applicants before settling on Elder, a Florida man whose resume boasts many competitive kayak races.Elder said he was immediately up for the challenge.“I read what she wanted, somebody to come paddle with her in Alaska,” he said. “I thought about it for a minute, and then I posted right away saying, ‘I gotta do this!’ You know what I mean? It’s like a lifetime experience.”Standing on the beach the day before the new pair was scheduled to paddle away from Nome, Hoffmeister surveyed the rough ocean tide.“I hope that it’s not looking like this tomorrow morning,” she said.The next morning, Aug. 17, brought the calmer conditions the kayakers hoped for, and the two were on their way.Hoffmeister’s blog notes her last check-in was just before Port Clarence on Aug. 21. She and Elder will complete this leg of the journey in late September in either Kotzebue or Point Hope — weather permitting.Share this story:last_img read more

Sepura radios in record revenues

first_img Sepura radios in record revenues whatsapp Express KCS SEPURA posted record revenues for the latest financial year, in results announced yesterday.Its results for the year ended 27 March showed a 12 per cent increase in takings, up to €131.2m (£93m). The Cambridge-based firm has seen a 20 per cent rise in adjusted operating profit to €15m, despite turmoil in the foreign exchange market and vulnerability from its Greek operations. Shares ended the day up 1.56 per cent per cent yesterday at 163p, on the back of the news.Chairman John Hughes said: “Our strategy to expand our addressable market has delivered a third consecutive year of record revenues and fourth consecutive year of double-digit growth.”The company is now positioning itself to compete in the US market, having shipped 217,000 radios in the last year, up 15 per cent from 188,000 the previous year.In addition, Sepura announced the appointment of Richard Smith from Imagination Technologies as its new finance chief. It designs and manufactures radio terminals, supplying businesses and governments in over 100 countries. This year it bought Teltronic for €127.5m, the largest acquisition in its 12 year history, and recently supplied the 2014 Fifa World Cup, Malaysia Airports, and Disneyland Paris. It will also work on the 2016 summer Olympics in Rio. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Tuesday 7 July 2015 11:11 pm Tags: NULL whatsapp Share Show Comments ▼ last_img read more

Premium / Supply chain radar: FedEx’s breaking bad moment

first_img LOGIN Please either REGISTER or login below to continue << Go back Premium subscriber LOGIN Subscription required for Premium stories In order to view the entire article please login with a valid subscription below or register an account and subscribe to Premium Forgotten your password? Please click here The interim results of FedEx (FDX), which reported after the bell on Tuesday, confirmed what we knew already: it’s bad out there.Just how bad, though?Daily chats Squeezed between more expensive growth and a slew of other competitive hurdles, FedEx’s easier choice is to cut costs (which it is doing) while placing less emphasis, in my view, on unadjusted non-GAAP numbers, while perhaps also ditching guidance, which was heavily cut this week.Talking of FedEx expectations and non-GAAP figures, I had a conversation earlier this week ... Password* Reset By Alessandro Pasetti 19/12/2018 Please Login New Premium subscriber REGISTER Reset Your Password Email* Email*last_img read more

How the not-for-profit Civica Rx will disrupt the generic drug industry

first_imgFirst OpinionHow the not-for-profit Civica Rx will disrupt the generic drug industry Bottles of prescription drugs are filled at the central pharmacy of Intermountain Healthcare in Midvale, Utah. Intermountain is one of the founding health care organizations of Civica Rx, which aims to make essential generic medications accessible and affordable. George Frey/Getty Images About the Author Reprints A pharma exec raised the price of antibiotic by 400 percent — and the government can’t do much about it In response to high pharmaceutical prices and their harmful impact on American consumers, President Trump has proposed lowering Medicare drug prices by tying them to the lower prices that other industrialized countries pay for the same drugs. Sen. Elizabeth Warren (D-Mass.), a 2020 presidential contender, has proposed creating a government-run pharmaceutical manufacturer to mass produce generic medicines in order to lower prices. Tags pharmaceuticals They also know what constitutes a reasonable cost. That means they can make commitments in advance to purchase specific amounts of medications from Civica Rx at predetermined prices long into the future. Not a penny of profit will be paid out. Any excess funds will be invested back into the organization to perpetuate its not-for-profit mission. Within three to five years, Civica Rx expects to offer its member hospitals up to 100 generic medicines.The company will operate on a membership model, with several levels of membership that will allow access for all hospitals, regardless of size. Members will range from small community hospitals of fewer than two dozen beds to the largest hospital systems in the nation.This membership system will ensure that Civica Rx’s long-term volume commitments will let it lock in prices that are both reasonable and transparent. The same price per unit will be offered to each hospital, and no hospital will be able to scoop up the supply.Locking in prices will ensure stability and consistency in both drug availability and cost. It also allows Civica Rx to commit to supplying its partners with the volumes of medications they need over the long term. That’s the key to enabling the company to produce specific drugs. With many health systems working together, we have the capacity to inject competition into the generic drug marketplace, an injection that is long overdue.Marc Harrison, M.D., is president and CEO of Intermountain Healthcare, based in Salt Lake City, a governing member of Civica Rx. Here’s an idea that won’t cost taxpayers a dime: a not-for-profit generic drug company that will shake up the marketplace and benefit the American people. That’s the idea behind Civica Rx, a not-for-profit company formed by three philanthropies and numerous health care organizations that represent about 800 U.S. hospitals. One of the founding health care organizations is Intermountain Healthcare, where I am president and CEO. Martin VanTrieste, the former chief quality officer for Amgen, is serving without compensation as the CEO of Civica Rx.advertisement Elizabeth Warren has a new way to lower drug prices: have the government make medicines In 2015, Turing bought the rights to Daraprim, the trade name of generic pyrimethamine, and raised its price from $13.50 a pill to $750, which boosted the cost of a normal course of treatment from about $1,350 to $75,000. An internal Intermountain Healthcare analysis indicated that a not-for-profit manufacturer can produce and sell pyrimethamine for $3.50 per tablet, which is less than 0.5 percent of the price of Daraprim after it was acquired by Turing ($750) and 25 percent of the price before the acquisition ($13.75).Two main things allow companies like Turing and Nostrum to jack up their prices: limited supplies of the drugs and the ease with which a pharmaceutical company with deep pockets can undercut anyone who’d consider investing in a competitor by drastically reducing the price long enough to put them out of business. Civica Rx’s not-for-profit model will correct that situation.With the clout of its large volume commitments, Civica Rx is creating its own market. The participating institutions know how much of each medication they need, and have records that reveal it with great precision. Marc Harrison Related: @MarcHarrisonMD The generic drug industry should cause prices for medications to drop. But lately it has been engaging in price gouging and making it difficult to obtaining some vital medications.You’ve heard the stories: a 5,000 percent increase by Turing Pharmaceuticals for one tablet of generic pyrimethamine, which is used to treat toxoplasmosis, a rare infection; a 2,800 percent price increase in a single year for digoxin, a commonly prescribed heart medication.The chief executive of Nostrum Laboratories, a generic pharmaceutical company, even argued there is a “moral requirement … to sell the product at the highest price,” as he defended a 500 percent increase in the price of nitrofurantoin, a generic drug used to treat bladder infections that is on the World Health Organization’s list of essential medicines.advertisement By Marc Harrison March 14, 2019 Reprints Related: Our company has a different moral requirement than that of Nostrum and many other generic drug companies: to put patients and their needs first.Unlike for-profit companies, Civica Rx is a public asset whose mission is to ensure that essential generic medications are accessible and affordable. These are drugs that have emerged from the patent-protection period and are in the public domain. The company will work to ensure they remain that way.Civica Rx will draw on the collective volume of commitments from its member health care organizations to serve the public good. It will initially focus on 14 hospital-administered generic drugs and expects to have its first products on the market this year.Shortly after the launch of Civica Rx in September 2018, more than 120 health organizations that represent about one-third of the nation’s hospitals contacted the company and expressed their commitment to the venture or interest in participating with it. Civica Rx is also collaborating with the U.S. Department of Veterans Affairs, which could bring its considerable buying power to the table and would likewise benefit greatly from less-expensive generic medications.The challenge is clear. Take the example of nitrofurantoin. Nostrum Laboratories raised the price of a bottle of the drug from $474.75 to $2,392, according to Elsevier’s Gold Standard Drug Database. In an interview, Nirmal Mulye, Nostrum’s chief executive, defended the quintupling of the price, saying, “We have to make money when we can. The price of iPhones goes up, the price of cars goes up, hotel rooms are very expensive.”FDA Commissioner Scott Gottlieb responded on Twitter:1/2 Regarding @FT story today @bydavidcrow; there’s no moral imperative to price gouge and take advantage of patients. FDA will continue to promote competition so speculators and those with no regard to public health consequences can’t take advantage of patients who need medicine— Scott Gottlieb, M.D. (@SGottliebFDA) September 11, 2018last_img read more

Sanctions spell boom for private shoe manufacturers

first_img News RELATED ARTICLESMORE FROM AUTHOR Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak This is “NK Market Trends,” bringing youweekly updates on the North Korean economy. For the fourth week of March, wehave reporter Seol Song Ah joining us for the show. Together, we will take acloser look at how residents are coping economically as sanctions set in andthe weather warms up. Ms. Seol, what are the hot items in the market thesedays?The private market in North Korea is notjust active in the spring, but all year round. Nevertheless, the differentseasons do influence market activity. As we head into the spring, vendors willneed to ensure they have stock that matches their customer’s needs based onthings like the weather and time of year. For example, when it warms up a bit,people start to wear different clothes, right? The market needs to take note ofthese trends and work hard to stay ahead of them. For the vendors, this is akey ingredient to success.The spring season also brings new pricesand different methods of conducting business. On today’s edition of MarketTrends, I’m going to discuss how shoe manufacturers are faring in the springmarket, with special emphasis on the regional aspect of private shoeproduction.Your point about picking the right productsto match the season is an interesting one. But didn’t you mention that thereare special regions for shoe manufacturing? I presume that if one has the moneyto step into the business, they could simply do so regardless of location. Canyou explain a little more about this? Of course, if one has the space and the seedmoney to engage in production of things like shoes, it is possible to a certainextent. The most salient hurdle for entrepreneurs is seed money andprofitability. Shoe production requires fuel, which is usually charcoal, and soacquiring that is the first step. The price and quality of charcoal in NorthHamgyong Province is different from that in South Pyongan Province. You needquite a bit of coal to produce rubber soles. Charcoal with a higherheating value (anthracite) is only mined in South Pyongan Province. If the donju (nouveau riche) in NorthHamgyong Province wanted to make shoes in the spring, they would start byinvesting and manufacturing. But for them, the price of coal  isconsiderably more expensive. Therefore, the markets in Hwanghae Province andNorth Hamgyong Province end up buying spring shoes that were produced in SouthPyongan Province wholesale. Because of this, producers in South PyonganProvince (and also nearby locations such as Sinuiju in South Pyongan) haveleveraged this strategic advantage and become famous for this sort ofmanufacturing. So it appears that this regionalspecialization is a natural result of resource availability. What kind of shoesdo the manufacturers in South Pyongan Province make in the spring? As we swing into spring, the first thingresidents begin to change is their clothes and especially their shoes. InMarch, the weather is still a bit chilly, so people wear thin winter coats, andstop wearing fur boots and winter boots.  So people begin to buy and wearsneakers, shoes, comfortable shoes, and so on, around this time of year. April 1 is back to school day. So manufacturers like to produce shoesto sell in March, so that the kids will have new shoes to wear when schoolstarts in April. Parents in North Korea remain focused ontheir kids and like to invest in their future to increase their chances ofsuccess, so they tend to buy shoes for them despite the cost. South Pyongan’sSunchon Market is considered the hottest place to buy shoes wholesale. Untilthe shoes appear at the market, the production and transportation process is soseamless, it seems as if all the steps needed have been undertaken by the samecompany. This is an illusion arising from close cooperation between the variousproducers. Because coal is included as a prohibitedexport item on the international sanctions list (UN Security Council Resolution2270), a lot of the coal that would have gone to foreign buyers is stayingwithin the country. Before the sanctions, it was quite difficult to acquirehigh energy coal, no matter how much one was willing to pay. Now that themining companies are providing high energy coal in exchange for credit, shoemanufacturers have been able to get their hands on a fuel source much more easilyand this has spurred production. I have heard that state-operated shoefactories produce shoes of an acceptable quality. Is that the case? To list a few of the state-operatedfactories, we could start with the one that Kim Jong Un recently inspected,Pyongyang Shoe Factory. There is also the Sinuiju Shoe Factory, the SunchonShoe Factory, and the Hyesan Shoe Factory in Ryanggang Province. These days, aseconomic localization and independence are emphasized, propaganda has emergedtouting the aesthetic qualities of the newest state-produced shoes to hit themarkets. The problem is that the state factories just can’t produce enough ofthem. They produce specialty products according to season, and these aredistributed according to each resident’s loyalty status, so ordinary workingfolks will rarely receive them. Also, while the state operated factoriesmake better quality shoes than the private factories, the designs have not keptup with the current trends in fashion. Even middle school students are unhappyto wear shoes that are drastically behind the newest styles. In the official general markets, high quality shoes from China and South Korea are available for purchase, butthese are quite expensive. So for consumers who are looking for a low tomid-priced pair of shoes that aren’t too out of fashion, privately-producedshoes are the way to go. I’m curious how these shoes are soldthroughout the country and what sorts of workers are employed to make theseprocesses work. Producing one pair of shoes requires awell-orchestrated division of labor. You start with the leather and rawmaterials, then recruit a rubber sole specialist, someone to take care of theshoelaces, another to make the midsole, and one more to complete the design.These sections of the process can be completed at different homes or sometimesin a factory warehouse that is rented to bring the various stages of productiontogether under one roof.Sections of the private shoe manufacturingprocess are usually undertaken by individual household units. Factory workersand students are sometimes employed by these family units. Production of therubber soles gives off noxious fumes, so the pay is doubled. Usually healthywomen are hired for this role. Students are sometimes used to puncture theholes in the fabric where the shoelaces are threaded. Thin aluminum or ironrings are then placed in these holes. Female students are said to enjoy thiskind of work and seek it out. A day’s wages is typically a kilogram of rice.This is greater than than the state nutrition guideline for adults of 700grams.  I’m wondering how all these various partsof the production process come together to form the final product. Can youplease explain that a bit?Shoe production is a process that cannot behandled by one or two people alone. As you mentioned, it is a productionprocess and therefore requires cooperation and coordination between manyparticipants. The raw materials are purchased from runners (retailers who travelto buy and sell) who acquire their goods from the Chinese city of Dandong.Instead of selling at Jonghap Market, these runners transport the raw materialsdirectly to the shoe producers. In this way, the shoe manufacturers have theirown form of infrastructure set up. The runners can sell the raw materials todozens of clients in the same region. By working together, the private shoeproducers form a fully functioning factory that can compete with state shoefactories.    The raw materials are processed into shapesfor shoes, sneakers, and student’s shoes, and then sent to final production.Rubber soles undergo the same process. The sole producers adjust their designaccording to the final producer’s demands. The various producers are all linkedup in this vast network and the final product gets sold off wholesale. China is participating in the internationalsanctions against North Korea. Considering this, do you think that it will bepossible to continue procuring raw materials from Dandong in the future? I think you hit on a very important point.The sanctions target mining, coal, and other foreign currency earning methodsfor the regime. There is nothing in the sanctions that targets the imports andexports of private businesses. Right now, dozens of container trucks streamback and forth from Dandong in China to Sinuiju in North Korea to provide NorthKorean private businesses with the resources they need to generate a profit.From there, the materials are transported to markets around the country. Whenone considers the fact that coal has suddenly become more available in thedomestic market and that the raw materials required for production are stillavailable, you might even say that the sanctions have produced a boom inprivate shoe manufacturing in North Korea. As we close, we’ll take a look at marketprices in the North.We’ll start off with last week’s riceprices, the foreign exchange rate, and other price movements. We’ve receivedreports that grain prices across multiple regions have not experiencedsignificant changes despite the international sanctions.The price of 1 kg of rice was 5,160 KPW inPyongyang, 5,090 KPW in Sinuiju, and 5,080 KPW in Hyesan. The cost of 1 kg ofcorn kernels was 2,100 KPW in Pyongyang, 2,190 KPW in Sinuiju, and 2,200 KPW inHyesan. The US dollar was trading at 8,128 KPW in Pyongyang, 8,150 KPW inSinuiju, and 8,065 KPW in Hyesan. The Renminbi was trading at 1,290 KPW inPyongyang, 1,280 KPW in Sinuiju, and 1,270 KPW in Hyesan, a little lower thanlast week.Moving along, 1 kg of pork was selling at11,500 KPW in Pyongyang, and 12,000 KPW in Sinuiju and Hyesan. Gasoline wastrading at 7,200 KPW per kg in Pyongyang, 7,180 KPW in Sinuiju, and 7,250 KPWin Hyesan. Finally, 1 kg of diesel fuel was selling at 5,500 KPW in Pyongyang,5,400 KPW in Sinuiju and 5,250 KPW in Hyesan.*This segment reflects market conditions for the week of March 21-25. SHARE News Sanctions spell boom for private shoe manufacturers AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] center_img News News Facebook Twitter By Daily NK – 2016.04.01 5:45pm There are signs that North Korea is running into serious difficulties with its corn harvest North Korea tries to accelerate building of walls and fences along border with Chinalast_img read more

Surveillance agents covertly planting bugs in the homes of defectors’ relatives

first_imgNewsEconomy News North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) The North Korean authorities have reportedly strengthened their efforts toward monitoring, intimidating, and coercing the families of defectors. According to sources inside the country, security agents are desperate to accomplish goals prior to the review period for the “200-Day Battle,” and are now closely watching the families of defectors by planting bugs in their houses, while covertly monitoring neighborhoods pretending to be merchants.“Recently, provincial State Security Department and Ministry of People’s Security [police] officers have significantly intensified their level of surveillance on the families of defectors. The security agents are not only directly visiting their houses but also covertly monitoring them, disguised as ordinary merchants,” a source in North Hamgyong Province told Daily NK on November 8.“There was even a recent case where a security agent abruptly visited a house belonging to a defector’s family pretending to come for drinks, before secretly attaching a bugging device under the table,” the source said, adding that, “When a family member asked the agent, ‘Why would you install such a thing in our house?,’ the agent responded by saying, ‘I don’t know anything.’”“Sometimes bugging devices can be found hanging on bicycles. As such devices appear, the families of defectors are coming under a lot of psychological pressure.”“Under such circumstances, defectors’ families are responding with advice such as, ‘We must check our house after anyone other than a family member visits.’ They are also telling each other to be cautious in speaking and behavior, so as not to be caught by the security agents who are likely to be monitoring them.”He further explained that these security agents are not only strengthening their surveillance and control over the families of defectors but are also using methods of coercion as well. This is because if a defector can be persuaded to return to North Korea, it is recorded as a significant achievement for the agent and a propaganda coup.A source in Ryanggang Province reported that recently, State Security Department agents have been visiting the families of defectors and saying things like, “Tell your family member to come back; they will be forgiven.” But most people doubt such claims, aware of the intensified surveillance for all involved if a defector is indeed to return.“The security agents are desperate to rack up achievements before the review of the ‘200-Day Battle’ which will be held until December 17. It seems likely that different methods of persuasion, intimidation, and surveillance will be employed depending on circumstances,” another source in South Pyongan Province added.The North Korean regime is known to intensify its surveillance of defectors who return, after using them for regime propaganda, as a second defection would reflect badly on the authorities. Therefore, returned defectors are required to make frequent reports, and are placed under constant surveillance, even on holidays. News SHARE US dollar and Chinese reminbi plummet against North Korean won once again Surveillance agents covertly planting bugs in the homes of defectors’ relativescenter_img Kang Mi JinKang Mi JinKang Mi Jin is a North Korean defector turned journalist who fled North Korea in 2009. She has a degree in economics and writes largely on marketization and economy-related issues for Daily NK. Questions about her articles can be directed to [email protected] RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter By Kang Mi Jin – 2016.11.10 3:47pm News Proposal to shift “general markets” to “specialized markets” finds little support among N. Korean leaderslast_img read more

Statement from Chief Public Health Officer of Canada on February 10, 2021

first_imgStatement from Chief Public Health Officer of Canada on February 10, 2021 From: Public Health Agency of CanadaOn February 10, 2021, Dr. Theresa Tam, Canada’s Chief Public Health Officer, issued the following statement on COVID-19.February 10, 2021 | Ottawa, ON | Public Health Agency of CanadaAs COVID-19 activity continues in Canada, we are tracking a range of epidemiological indicators to monitor where the disease is most active, where it is spreading and how it is impacting the health of Canadians and public health, laboratory and healthcare capacity. The following is the latest summary on national numbers and trends, and the actions we all need to be taking to maintain COVID-19 at manageable levels across the country.Since the start of the pandemic, there have been 810,797 cases of COVID-19, including 20,909 deaths reported in Canada; these cumulative numbers tell us about the overall burden of COVID-19 illness to date. Though many areas continue to experience high infection rates, it is important to remember that the vast majority of Canadians remain susceptible to COVID-19. As well, the emergence and spread of certain SARS-CoV-2 virus variants /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Canada, coronavirus, covid-19, disease, Government, health, healthcare, infection, Ottawa, pandemic, public health, viruslast_img read more

3 UK CEO says O2 deal will address “imbalance” in market

first_img David Dyson, CEO of 3 UK, believes there is a “significant imbalance” in the UK operator market and “fundamentally disagrees” that four operators in the country is a good thing, Financial Times (FT) reported.He was speaking in support of his company’s £10.5 billion acquisition of O2, which has not received support from the country’s regulator, Ofcom. The deal is awaiting approval from Brussels, although the European Commission may take a hard line on the matter.Dyson said that “after 13 years of fighting incredibly hard, 3 UK has 10 per cent market share and is still subscale in an industry where scale is really important to be sustainably competitive”. The merger would up this market share to around 40 per cent.“We have shown that we have always used our spare capacity to drive competition. We have been hamstrung over the past two years and I can’t wait to get on the front foot,” he said, adding that the operator is running out of capacity on some UK sites.Dyson believes consumers and the government would agree with his stance, given the ‘not-spots’, reliability of networks and state of 4G rollout in the country.He also said BT, with its acquisition of EE, and Vodafone UK are making things hard for smaller rivals because they have control of more spectrum.“The deal means faster speeds and more capacity. The merged group drops an additional 25 per cent of capacity into the UK market,” he commented.Separately, FT said 3 UK will stick to existing network-sharing arrangements after the merger, addressing concerns that the deal will upset the current balance where operators have combined their masts into two networks — one used by 3 UK and EE, and the other by O2 and Vodafone.“The merger is about the smallest operator taking control over our future. It’s in our DNA to compete. We just want a level playing field,” Dyson said.Last week, 3 UK owner CK Hutchison pitched three promises to the European Commission in a bid to gain approval for its bid.These included not raising prices of voice, text or data for five years; investing £5 billion in that period; and enabling “other meaningful competitors” to enter the market using its network. Tags Español AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 15 FEB 2016 Author Saleha Riaz Previous ArticleGoogle opts out of upcoming US spectrum auction – reportNext ArticleVodafone’s contribution to the public purse drops Home 3 UK CEO says O2 deal will address “imbalance” in marketcenter_img Telefónica refuerza la seguridad de las cadenas de bloques Luz verde a la fusión entre Telefónica y Liberty Global en el Reino Unido Related Telefonica bolsters blockchain security Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters – creating content, writing blogs and reports as well as conducting feature interviews…More Read more 3 UKCK HutchisonDavid DysonO2Telefonicalast_img read more