Planning

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Australia heading for recession after economy contracts

first_img“The economic impact will be severe. Far more severe than what we have seen today,” Frydenberg said.Authorities ordered numerous businesses shut and closed the country’s international borders to stem the spread of COVID-19, costing the economy billions of dollars but achieving success in containing the virus.Frydenberg said the negative March quarter “compared very well” to results in countries including China, France and Britain, showing the Australian economy’s “remarkable resilience”.”We were on the edge of the cliff. What we were facing was an economist’s version of Armageddon,” he said. Australia is heading for its first recession in nearly three decades after the economy shrunk in the January-March quarter, with a “far more severe” reading expected in the next three months as the effects of the virus shutdown bite.The 0.3 percent contraction was the first quarterly drop since 2009 during the global financial crisis and came as the lockdown exacerbated the impact of a prolonged drought and massive bushfires.And while it was smaller than the forecast 0.4 percent drop, Treasurer Josh Frydenberg said Australia was now on track to enter its first recession since 1991 “on the basis of the advice that I have from the Treasury Department about where the June quarter is expected to be”. “We have avoided the economic fate, and the health fate, of other nations because of the measures that we have taken as a nation.”The government has effectively bankrolled swathes of the economy — subsidizing wages and urging rent deferrals in order to keep businesses on life support until normal life returns.Millions of Australians have lost their jobs or seen hours slashed, but officials hope a three-stage approach to lifting virus restrictions will help restore the economy.National Australia Bank’s Kaixin Owyong said the economy would likely shrink 8.4 percent in the next three months.But she added that the lifting of restrictions earlier than expected “points to economic recovery beginning in the third quarter, with high-frequency indicators… showing spending is picking up as restrictions are eased”.She did, however, warn that a full rebound was some time off as borders were still closed, which will continue to hit trade.”Full recovery will also require confidence in health and economic outcomes to be restored, where households may remain cautious for some time given record job losses and with the labor market historically lagging recovery in activity,” she added. Australia has recorded about 7,200 cases and 102 deaths from coronavirus, with many regions now regularly reporting zero new daily cases.center_img Topics :last_img read more

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DMC OKs TTR’s Marine Consent to Recover and Export Iron Sands in STB

first_imgThe Decision Making Committee (DMC), appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd (TTR), has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight.The Environmental Protection Authority’s (EPA) DMC decision is the first approval for a mining proposal in New Zealand’s extensive offshore Exclusive Economic Zone under the EEZ Act 2012.“However, after hearing and considering all the evidence, submissions, reports and information, members of the Decision-making Committee did not agree in the final deliberations,” EPA said in its release.Committee Chairman Alick Shaw and Dr Kevin Thompson voted to grant consent. Deputy Chair, Sharon McGarry and Gerry Te Kapa Coates, voted to refuse consent, citing concerns over localized adverse environmental effects and tangata whenua existing interests.In accordance with the procedures adopted before the hearing began, the decision to grant consent, subject to conditions, was determined on the casting vote of Mr Shaw, as Chair of the DMC.The committee’s rationale for granting consent is set out in the over 300-page decision document and includes conditions and operating constraints to limit the scale, intensity and duration of the discharge effects of residual material to the seabed, known as sediment plume, as well as impacts on marine mammals.With the imposition of such conditions, TTR’s marine consent application to mine iron sands in the South Taranaki Bight is granted and will remain in place for 35 years.last_img read more

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Aker Solutions and FSubsea to create new firm for boosting oil recovery

first_imgThe spread of subsea boosting technology has been hampered by cost and complexity. Conventional systems require a large amount of topside equipment on a platform or FPSO, including electric variable speed drives and supply systems for barrier fluid hydraulic oils. They also typically require several kilometers of hydraulic umbilicals between the pumps and the platform. This increases cost in the form of engineering and hardware spend.Aker Solutions stated that the pump-module solution from FASTSubsea leverages FSubsea’s Hydromag technology, which is a unique combination of the world’s most powerful Permanent Magnetic coupling with an embedded hydrodynamic variable speed function, and Aker Solutions’ MultiBooster semi-axial impeller design, which has proven best-in-class pressure generation capabilities.This system has built-in variable speed function and is barrier-fluid-less, which reduces capex cost with up to 50 percent. It unlocks opportunities with platforms that have no additional topside space but still can reap the economic benefits of increased recovery with subsea boosting system, Aker Solutions explained.Aker Solutions and FSubsea will each hold a 50 percent of the outstanding shares in FASTSubsea and the board of directors will consist of an equal number of Aker Solutions and FSubsea representatives.Alexander Fuglesang acts as Managing Director of FASTSubsea and Bastiaen van der Rest as Technology and Operations Manager.The company’s “topside-less” multiphase pump will be marketed towards subsea integrators and operators directly, as well as through Aker Solutions. FSubsea will continue to market Omnirise product range directly to the marketplace and Aker Solutions will continue to market LiquidBooster and MultiBooster product ranges directly to the marketplace.Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options. Norway’s Aker Solutions and its compatriot FSubsea have agreed to create FASTSubsea to help operators increase oil recovery in “a faster, simpler and more environmentally friendly way.” Aker Solutions said on Wednesday that multiphase subsea pumping technology has the potential to increase oil recovery rates by more than 20 percent, but cost, space limitations and sometimes complex solutions mean multiphase pumps are installed in fewer than 30 of the world’s 1,500+ offshore fields.With FASTSubsea, this is about to change, according to the two companies.Aker Solutions said  that the new company combines its multiphase hydraulic technology with FSubsea’s Hydromag technology to create the world’s first “topside-less” multiphase boosting system.The pump-module solution being developed by FASTSubsea can cut capex by half and enable subsea boosting at fields where there is no available topside space. Getting more out of existing wells reduces CO2-emissions per barrel.“Creating FASTSubsea enables us to increase our speed to the market, reduce risk and reduce investment in multiphase test facilities,” said Alexander Fuglesang, CEO of FSubsea, who will take on the role of Managing Director of FASTSubsea.“Combining Aker Solutions’ subsea systems expertise and multiphase test facility with FSubsea’s Hydromag technology and lean mindset will benefit both companies, said John Macleod, Aker Solutions’ Chief Technology Officer.“FASTSubsea has the potential to become a valuable addition to our portfolio of boosting recovery solutions.”The agreement is subject to approval from the Norwegian competition authorities. Boosting subsea boostinglast_img read more

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Arteta moves to bring Bergkamp back to Arsenal

first_img Loading… Arsenal’s boss, Mikel Arteta, is moving to bring Dennis Bergkamp back to the club. According to The Sun of UK, the Dutchman is being eyed for the role of the assistant coach after Freddie Ljungberg’s exit. Bergkamp, 51, would jump at the chance of a Gunners return and boss Arteta is hoping to bolster his backroom staff with a figure who commands instant respect from the current players. And no one is more revered than former Invincible Bergkamp, who spent 11 years at the club and has his own statue outside the Emirates. Arteta considered asking ex-Arsenal midfield partner Santi Cazorla to become part of his team.Advertisement read also:Arsenal Talisman Aubameyang shows off Supercars collection But those plans were scuppered when the Spaniard signed for Qatari team Al Sadd to extend his playing career. Bergkamp has been coaching on a volunteer basis with Amsterdam minnows Almere City since being axed as assistant manager of Ajax three years ago. Now he is eager for a permanent coaching position and has made no secret of his desire to become a Gunner again. FacebookTwitterWhatsAppEmail分享 center_img Promoted Content10 Places On Our Planet Where The Most People Live2020 Tattoo Trends: Here’s What You’ll See This YearPlaying Games For Hours Can Do This To Your Body10 Most Evil Female Characters In Disney MoviesEver Thought Of Sleeping Next To Celebs? This Guy Will Show YouThe 10 Best Secondary Education Systems In The WorldThe Highest Paid Football Players In The WorldBest & Worst Celebrity Endorsed Games Ever Made7 Of The Wealthiest Universities In The WorldYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime11 Strange Facts About Your Favorite TV ShowsThe Funniest Prankster Grandma And Her Grandsonlast_img read more

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EPL: Palace, Foxes in cagey duel

first_imgRelatedPosts EPL: Vardy primed for another prolific season after brace at West Brom Klopp wins Premier League Manager of the Season award Ndidi linked with Man U move Crystal Palace vs. Leicester City Venue: Selhurst Park Kick off: 3PMTwo of the Premier League’s surprise packages so far this season face off at Selhurst Park this afternoon when ninth-placed Crystal Palace host fourth-placed Leicester City. Palace have lost just one of their last five league games going into this match, while Leicester have won four of their last five, including a record-equalling 9-0 humiliation of Southampton last weekend. Brendan Rodgers has insisted that Leicester have moved on from last Friday’s bonanza at St Mary’s, but such a result will no doubt make opposition all the more wary of a team which has quite rightly earned glowing praise so far this season. Many tipped the Foxes to push for a top-six spot this term, but few had them sitting third after 10 games and only five points behind champions Manchester City, who are also the only team to have outscored them in 2019-20. Victory today would give Leicester their best-ever start in the top flight, with their current tally of 20 points from 10 outings. Such is the standard being set at the moment that Leicester are still 11 points off Liverpool’s pace at the top of the table, but they look perfectly capable of challenging for a top-four spot this season, with three points already separating them from fifth-placed Arsenal. Manchester United and Liverpool are the only teams to have beaten Leicester in 13 matches across all competitions this season, and nine of their last 11 have ended in victory – including a 3-1 triumph away to Burton Albion in the EFL Cup on Tuesday. That made it 12 goals in their past two outings with two vastly different starting lineups but, as impressive as their attack has been, their defence has also made light of losing Harry Maguire in the summer and boast the joint-fewest goals conceded in the league so far this term. Such a record may concern a Palace side that has only averaged one goal per game in the league this season, but Roy Hodgson will nonetheless be just as happy as his fellow former Liverpool boss Rodgers with how the opening 10 weeks of the campaign have gone. The Eagles go into the weekend sitting sixth in the table, above Manchester United and Tottenham Hotspur and only one point behind Arsenal, against whom they recovered from two goals down to draw 2-2 last weekend. Granit Xhaka’s act of petulance under provocation stole the headlines in that match, but you can be sure that Hodgson fully appreciated the fightback from his side having been beaten at home by Man City a week previously. Palace’s record of one defeat in five is made all the more impressive by the fact that this will be their fourth successive game against a team starting the day in the top five – a difficult run which is almost certain to stretch to seven with Chelsea and Liverpool next up after Leicester. One cause for optimism lies in their record against the Foxes having won each of their last four editions of this fixture, scoring 13 times and conceding just once in the process, and the most recent of those wins prompted Leicester to sack Claude Puel in February. Only once before in their history – against Wimbledon from 1989 to 1991 – have Palace won five successive top-flight games against a particular opponent, but they will be expecting a completely different test against Rodgers’s Leicester this time around. Crystal Palace possible XI: Guaita, Ward, Tomkins, Cahill, Van Aanholt, Townsend, Kouyate, Milivojevic, McArthur, Zaha, Ayew. Leicester possible XI: Schmeichel, Pereira, Evans, Soyuncu, Chilwell, Ndidi, Perez, Tielemans, Maddison, Barnes, Vardy.Tags: Brendan RodgersCrystal Palace FClast_img read more

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McNair: Debut would be a dream

first_img The Manchester United defender has been given his first taste of top-team action at Old Trafford by new boss Louis van Gaal this season. Now he is set to follow that up by making his international debut in Glasgow when Michael O’Neill’s side take on the Scots at Hampden. Paddy McNair admits he will fulfil his boyhood dream if he earns his first Northern Ireland cap against Scotland on Wednesday night. “It’s going to be tough,” he said. “It’s a game against another home nation and both teams want to win. It won’t be a friendly. “It’s a game we can definitely win, though. We showed in the games in the qualifying group we can beat anybody. “Scotland have some very good players. I’ve played against Steven Naismith earlier on this season and you can see why people rate him so highly.” McNair can also expect to come up against another familiar face clad in Dark Blue, with former United midfielder Darren Fletcher likely to line-up for the hosts. The 31-year-old – who quit the Red Devils in January after 12 years to sign for West Brom – played an influential dressing-room role while McNair was making his way through the Old Trafford ranks. And the youngster happily admits he owes the four-time Premier League winner a huge debt of gratitude. “Darren really helped me a lot and have to thank him a lot for that,” said McNair. “When I first broke into the team he gave me a lot of advice and really did help me settle in. “When you come through at Manchester United, it is such a big club with so much pressure on you. “Darren was in the same position I’m in now at one stage so he would often come up to me before games and have a word to make sure my head was on right. “Darren is a great player and I’m very happy to see him back playing regularly with West Brom.” In the 13 games McNair has racked for Van Gaal’s side this term, he has done enough to leave the Dutchman so impressed that he reckons the Ballyclare youth could be a mainstay of the United line-up for the next decade. But McNair himself is trying not to look too far ahead. He said: “I don’t think I will really realise how good a season I have had until the end of the season when I look back at it, but so far I’m very happy. “Am I surprised at how quickly things have gone this year? Yeah a little bit. “Sometimes you just need a bit of luck to get your chance. But I was confident that once I got my chance I could take it.” Press Association The 19-year-old was forced to pull out of his first involvement with the national team last October due to injury, while he was an unused substitute a month later as the Irish lost 2-0 away to Romania. But he is expected to finally pull on the green jersey in the midweek friendly clash that will serve as a warm-up ahead of Sunday’s crucial Euro 2016 qualifier with Finland at Windsor Park. “It would be a dream come true if that happens,” said the teenage centre-half. “As a young boy it is a dream to play for your country. “I went to a few Northern Ireland games when I was very young but I don’t remember too much about them. I can remember the atmosphere and hoping that one day I would be out there as well, so if I can do that on Wednesday I will be very proud.” Wednesday’s match will be just as important to the Scots as it is O’Neill’s troops as both countries look to end their long absences from major tournaments by claiming a slot at next year’s European Championships in France. While Northern Ireland are just a point off the summit of Group F after taking nine points from the first 12 available, Gordon Strachan’s side are very much in the hunt themselves. They sit third in Group D, three points behind leaders Poland and level on seven with Germany and the Republic of Ireland. With that in mind, McNair does not expect an easy introduction to the international game. last_img read more

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Mariners Roll Against Tigers

first_img House fire in Winter Harbor – October 27, 2014 State budget vs. job creation – January 22, 2015 SULLIVAN — The Tigers outhit the Mariners 11-9 but managed just a pair of runs as the Mariners rolled to a 10-2 win on Monday.Eben Powers drove in two runs with a pair of doubles, Joe Condon tripled and singled and Evan Rollins had a pair of singles for the Mariners.Matt Boyle drove in a run with two doubles and a single and Mike Crowley doubled and singled for the Tigers. Latest Posts Latest posts by admin (see all) admin Hancock County Court News Nov. 3 thorugh Dec. 11 – January 22, 2015 Bio This is placeholder textThis is placeholder textlast_img read more

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Aru signals Tour ambitions as Froome takes yellow

first_imgBy Julien Pretot(Reuters) – Fabio Aru claimed his maiden Tour de France win yesterday, as defending champion Chris Froome snatched a yellow jersey he intends to wear all the way back to Paris.Italian champion Aru launched a blistering attack in the final stretches of the fifth stage, jumping away from the leading group with 2.3km left of the 5.9km climb at a lung-busting average gradient of 8.5 per cent.On a searing hot day in eastern France, the 2015 Vuelta champion of the Astana team became the third winner at the top of La Planche des Belles Filles, where Team Sky’s Froome came to prominence in 2012 and Italy’s Vincenzo Nibali prevailed in 2014, the year he won the Tour.“I had seen a video of Nibali’s win and I tried to do the same to see what would happen,” said the 27-year-old Aru.“I wanted to test my rivals, I did not have the stage win in mind but obviously it’s a great day.”Ireland’s Dan Martin took second place yesterday, 16 seconds behind, while Froome was 20 seconds off the pace in third, with his rival Richie Porte in his tracks.Another top contender, last year’s runner-up Romain Bardet of France, took fifth place, a further four seconds behind.“When Aru went, I still had teammates (to do the work) so I waited for the others to react. Nobody moved so I thought I had to go to see what I could do,” said Froome, who added he felt fresher than on his previous dominant rides on the Tour.DOMINANT SKYColombian Nairo Quintana, tipped as one of Froome’s main challengers, struggled to finish ninth, 36 seconds back, while Spain’s Alberto Contador limited the damage in eighth place, 26 seconds behind Aru.Froome took the yellow jersey from team mate Geraint Thomas, who could not sustain the pace on the climb’s steepest parts.Overall, three-time champion Froome leads Thomas by 12 seconds with Aru in third a further two seconds behind.Froome believes he can defend his lead until the last day in Paris, although no team has kept the yellow jersey from day one all the way to the finish of the three-week race since Eddy Merckx’s Faemimo-Faema held it throughout.“I’m used to being in that position,” he warned.While Aru emerged as the sharper climber, Porte said that the road to Paris was still very long and that the Italian would have to deal with the pressure of being tipped as a major favourite alongside Froome.“Aru slipped away a bit I’m still happy with my ride … he’s going to have more pressure – we saw it last year; he exploded in one of the last stages,” the BMC rider said.last_img read more

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Ambode, Making Lagos Africa’s Sports Hub

first_imgWhen His Excellency, Governor Akinwunmi Ambode assumed office in May 2015, he assured Lagosians of re-energised road map for sports development during his tenure in office.He emphasised on a vision to use sports as a catalyst for the growth and development of the economy. “Sport is a catalyst for tourism and it is my strong belief that we must continue to support sports as a means of allowing us to develop the mental capabilities of younger ones and Lagos State is ready to do that,” the governor said recently.Looking back from 2015 till now, there is no doubt that Governor Ambode has not been paying lip service to what he promised. The governor has indeed matched his words with action. Stakeholders in Nigerian Sports will also testify that Lagos State, under Governor Ambode, has been using sports to keep the youth busy with a different set of competitions, both on the local and International levels. While the state has been hosting and organising sporting competitions and tournaments on a regular basis, the Government of Akinwunmi Ambode has also made sure that series of international Sports Classics take place in Lagos, the Centre of Excellence.International Classics such as ITTF Seamaster Nigeria Open (table tennis), PSA Squash Classics, International Badminton Classics and other events such as the Governor’s Cup Lagos Tennis Championships now known as ‘Lagos Open Tennis Championship’ are regular annual competitions that Lagos State organises. Governor Ambode has personally attended the finals of some of these events.The Access Bank Lagos City Marathon is another sporting event that has put Lagos on the world sports map. The tournament has in three years of existence, attained International Amateur Athletics Federation (IAAF) Bronze Label status and has become one of the major African marathon races on the IAAF calendar. On the Local scene, the Government of Akinwunmi Ambode has been using School Sports as the foundation to unearth and groom young athletes to boost the pool of athletes in the state. Many school sports championships have been staged in sports such as Gymnastics, Hockey, Swimming, Handball, Deaf School Sports and Traditional Sports under the able watch of the Lagos State Sports Commission headed by Dr. Kweku Adedayo Tandoh.In the area of sports facilities development, Governor Akinwunmi Ambode has also scored himself remarkable high marks. The focus includes the provision of sports facilities in districts, communities andneighbourhoods, increased attention to schools sports for the discovery and development of athletes etc. It came as no surprise that the governor approved the remodelling of Agege Stadium, nicknamed ‘The Soccer Temple’. Onikan Stadium is now undergoing massive reconstruction to expand the facility and turn it into world-class sports and entertainment edifice. The sports-loving governor is about fulfilling his campaign promise of giving the people of Ajegunle a new Maracana Stadium.Still fresh in the memory of Lagosians was #mylagosmyfootball# World Cup Viewing Centres at designated centres across the state. The vision the governor had was to bring the Russia 2018 FIFA World Cup Finals to Lagos for the people to be part of it. All matches of the Mundial were shown live at centres at Campos Mini Stadium Lagos Island, Teslim Balogun Stadium Surulere, Abesan Playground Alimosho, Naval Barracks Ajegunle, Bishop Aggrey Youth Center Mushin, Epe Recreation Center, Ikorodu Town Hall Ikorodu andBadagry Grammar School Badagry.In the area of administration, sports in Lagos State is in capable hands as Governor Akinwunmi Ambode has chosen technocrats to oversee that sector. The appointment of Dr. Kweku Adedayo Tandoh as the Executive Chairman of the Lagos State Sports Commission is clearly a “round peg in a round hole”, so are those of Mr. Babatunde Bank-Anthony as Director-General and other competent men and women as members of the Sports Commission Governing Board. The governor has also carefully chosen men and women of proven integrity to the Board of the newly created Lagos State Sports Trust Fund, where former Deputy Governor of Lagos State, His Excellency Otunba Femi Pedro is the Chairman.Within a short period of time, Governor Akinwunmi Ambode has made his presence felt in the area of sports and he continues to invest heavily in sports development for the future of the youths of Lagos State.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

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