Month: August 2020


IMF commends St Kitts and Nevis’ growth

first_imgThe International Monetary Fund (IMF) has commended St. Kitts and Nevis’ strong economic performance amidst a difficult global economic backdrop.  St. Kitts and Nevis’ economy achieved 3.2 per cent growth in 2016.“Notwithstanding a difficult international environment, St. Kitts and Nevis’ economy grew at a modest pace in 2016 and it is expected to grow again in 2017 for the fifth consecutive year,” Ms. Inci Otker, the IMF mission chief on the 2017 Article Four (IV) Consultation to St. Kitts and Nevis, said.“Its growth performance in fact exceeded the average growth rate achieved by its peers in the ECCU region, which is quite impressive,” the IMF official also said of St. Kitts and Nevis’ economic performance in relation to the eight-member Eastern Caribbean Currency Union (ECCU) comprising Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.Ms. Otker continued: “The country’s strong economic performance owes a lot to the robust Citizenship-by-Investment inflows and their spillovers to the economy, as well as the overall prudent macroeconomic policies of the government.”The IMF mission chief for the Article IV Consultation held in St. Kitts and Nevis added that, “The [St. Kitts and Nevis] authorities actually made significant efforts to strengthen the Citizenship-by-Investment program, especially in a very challenging regional and global environment.  They have strengthened the due diligence process with dedicated resources and also global collaboration, which is essential to reduce the integrity and security risks and preserve the program’s credibility, and we are especially happy that there is also the intention to avoid a race to the bottom.”The IMF team led by Ms. Inci Otker visited St. Kitts and Nevis between April 18th and May 3rd as part of the routine Article IV Consultation to the country.last_img read more


Burden of proof shifted to prosecutors in Stand Your Ground cases

first_imgFlorida has passed a law that spells out that prosecutors, and not defendants, have the burden of proof in pretrial “stand your ground” hearings.Republican Governor Rick Scott signed a bill Friday that will force prosecutors to prove during a pretrial hearing that defendants weren’t acting in self-defense when they committed an act of violence. The law took effect as soon as Scott signed it.Before Friday, the burden of proof in pretrial hearings was on defendants. The Florida Supreme Court issued a ruling in 2015 that made that clear. Republican lawmakers responded to the ruling by pushing the bill Scott signed.Only four of the other 21 state “stand your ground” laws mention burden of proof – Alabama, Colorado, Georgia and South Carolina – and all place it on defendants.last_img read more


Chandimal pleads not guilty

first_imgSri Lanka captain Dinesh Chandimal will face charges of changing the condition of the ball at the end of the ongoing cricket Test against West Indies. He plans to contest the allegations after pleading not guilty.The International Cricket Council (ICC) announced Sunday that Chandimal had been charged at the close of the third day on Saturday under Article 2.2.9 of the ICC Code of Conduct, relating to “changing the condition of the ball in breach of clause 41.3 of the ICC Standard Test Match, ODI and T20I Playing Conditions” by “unfair” means.Caught in the act by TV footage“The officials laid the charge after television footage from the final session’s play on Friday appeared to show the Sri Lanka captain taking sweets out from his left pocket and putting these in his mouth, before applying the artificial substance to the ball which the umpires viewed as an attempt to change its condition,” the ICC statement said.“Video evidence will be used in the hearing, which will also be attended by the match officials as well as members of the Sri Lanka team management.Faces fines and other penaltiesIf Chandimal is found guilty, he faces a fine of between 50 per cent to his entire match fee, or two suspension points or three to four demerit points.The controversy unfolded early on the third day when umpires informed Sri Lanka the ball would be changed and West Indies would be awarded five penalty points, due to the altered condition of the ball.Sri Lanka took issue with the assertion and refused to take the field, leading to play eventually starting at 11:30 am, half-hour before scheduled lunch interval.A statement from Sri Lanka Cricket late Saturday said it would “take all necessary steps to defend any player, in the event any unwarranted allegation is brought against a member of the team.”last_img read more


T&T Government defend decision to close oil refinery

first_imgThe Trinidad and Tobago government Monday reiterated its position that it was necessary to close down the refinery of the state-owned oil company, PETROTRIN, insisting that the company was losing billions of dollars annually.Finance Minister Colm Imbert, delivering the TT$51.7 billion budget to Parliament, said that the government had agreed that following a “comprehensive assessment and analytical review of its operations” to shut down the refining and marketing business unit of PETROTRIN)Imbert said that all the major plant upgrades failed – from the gas optimization plant to the ultra-low sulfur diesel complex and the gas-to-liquids plant – all experiencing substantial cost overruns in the process. The cost of these upgrades has loaded the company with an unsustainable debt burden estimated at TT$12 billion of which TT$5.780 billion is due in August 2019.He said over the years, the survival of the company was only possible through the non-payment of TT$3.5 billion in taxes and royalties, in breach of the law, and the procuring of government guarantees in the amount of TT$1.5 billion for loans from financial institutions which have significantly increased the public debt.“This has placed a severe burden on the Treasury and on taxpayers, especially in view of the fact that PETROTRIN extracts 40,000 barrels per day of taxpayers’ oil, at a value of six billion dollars per year, for which taxpayers receive no benefit.”Imbert said that despite the fact that PETROTRIN is tottering on the brink, as recently as last month, PETROTRIN approached the Ministry of Finance for financial support by way of another government guarantee in the amount of US$56 million to purchase a cargo of crude oil, since the shipper refused to discharge the cargo without a guaranteed letter of credit.He said the latest financials for the company are illustrative of a looming crisis which if left unresolved would have a serious impact on the national economy.last_img read more


European League Preview: Manchester City, Liverpool Set For Etihad Stadium Cracker, Mbappe Poised For…

first_imgAction returns in the top European leagues following the international break as a result of the FIFA World Cup qualification matches.The stage is set for intriguing matches in England, Italy, Germany and France, the weekend preceding the commencement of the UEFA Champions League.ENGLANDManchester City and Liverpool are involved in an early kick off at the Etihad Stadium, a cracking game which surely will set the tone for the rest of the weekend games in England.Pep Guardiola has seen his team fail to convince in all departments this season after a record breaking summer expenditure.Kyle Walker is available after serving a one-match suspension, while Raheem Sterling misses out due to a one-match ban.Philippe Coutinho and new signing Alex Oxlade-Chamberlain are available for Liverpool selection and it will be interesting to see just how the duo fit into Jurgen Klopp’s selection on game day. Whatever you doing on Saturday, you can’t afford to miss this cracker!Champions Chelsea are guests of Leicester City at the King Power Stadium, in a game of little importance on paper at this stage of the season, but could go a long way in determining Chelsea’s fate in retaining the title at the end of the campaign.Eden Hazard should make his return from an injury layoff after coming through the international games for Belgium, while Danny Drinkwater could bizarrely make his Chelsea debut against a team he departed a week ago. Considering Leicester City’s superb home form since February, this tie should be a close call.League leaders Manchester United are away to Stoke City, in their bid to make it four successive wins and clean sheet this season. Bet365 Stadium hasn’t been the easiest ground for any visiting team, Arsenal the latest side to find out three-weeks-ago.Jose Mourinho has often made his displeasure known about the international break in the past, and his Red Devils side should avoid complacency against the Potters, otherwise, the outcome could be stories that touch the hearts. GERMANYHamburg appears reborn this season and will be put to test against seventh-place RB Leipzig; last terms surprise package.Hamburg struggled in the bottom end of the table for much of the past two campaigns, but have started brightly with successive wins this term, rising as high as third-place on the log. They should take advantage of their form and midweek European commitment for Leipzig when they clash on Friday night.Hoffenheim are home to Bayern Munich on Saturday evening, a game of massive importance to both teams.Bayern Munich with all their superiority must be wary of a deceptively good Hoffenheim team, who are aware a result improves their fourth-place.We keep our fingers crossed as regards the outcome of the game, but we can expect goals at both ends. ITALYThe biggest game in the Italian Serie A this weekend takes place at the Stadio Olimpico between Lazio and AC Milan. TheThe visiting Rossoneri have revamped the old guard and are looking a completely different team, more like what the Milan fans were accustomed to seeing in the past three decades.Lazio surprisingly failed to win at home against newly promoted SPAL but redeemed themselves with an away win at Chievo.This could be the first massive test for AC Milan’s expensively assembled squad, but we expect them to pass with flying colours.center_img FRANCETable topping Paris Saint-Germain are away to bottom side, Metz on Friday night, as French Ligue 1 action following a two-week international break.The major attraction for the capital club and global audience should be the potential attacking partnership of the trio of Neymar, Edison Cavani, and Kylian Mbappe, in a game Mbappe expectedly should make his PSG bow.Metz are clearly unfortunate to be the side that Unai Emery’s men take-on, and we should expect their four games losing streak to be extended by a number.Champions Monaco are in a neck-neck battle with Nouveau Riche PSG for the title this season. Both teams are level on 12 points and 14 goals scored, second-place Monaco only trailing by an inferior goal difference.Monaco are away at 17th-place Nice and should expectedly do the needful against the home team who lost at home to newly promoted Troyes.RelatedStat Attack (Weekend Preview)December 22, 2017In “England”Premier League 2020-21 Fixtures: Battle of Nigerians On Opening WeekendAugust 20, 2020In “England”UEFA Charge Liverpool Over Manchester City Bus AttackApril 5, 2018In “England”last_img read more


Jackpotjoy Plc debuts on London Stock Exchange

first_img Luckbox outlines final TSXV roadmap July 29, 2020 Related Articles Share The London Stock Exchange (LSE) welcomed its latest gaming/betting listed enterprise Jackpotjoy Plc this Wednesday.Debuting on the London exchange as the ‘world’s largest online bingo operator’ Jackpotjoy Plc, formerly Toronto TSX-listed Intertain Group closed its first day of LSE trading securing a share price of 645p.Headed up by new Chief Executive Andrew McIver, JackpotJoy had first stated its intentions of listing on the London exchange last August. The firm’s new leadership recognised that the company needed to be closer to its main European markets by moving its listing to the LSE.Since September 2016, JackpotJoy governance has been preparing the firm and its investors for its planned LSE migration, launching a share swap and buy-back program for its TSX investors.Following its debut on the LSE, Andrew McIver commented that Jackpotjoy had entered a new phase as an industry operator.“We are delighted to have completed these truly transformational transactions. The London listing will provide us with access to a large, liquid and international market that is home to a number of our global gaming industry peers and a majority of our online gaming peers”“This exposure to a broader market with extensive sector knowledge and familiarity is expected to contribute over time to a fuller and more appropriate valuation of our business. The listing of exchangeable shares on the TSX is also a significant benefit to a large group of our existing Canadian shareholders and is expected to facilitate a shareholder-friendly migration to London of all trading in our shares.” Share Submit Luckbox raises CAD $3.8m ahead of TSX IPO June 12, 2020 StumbleUpon Sportech highlights new client wins under lockdown June 26, 2020last_img read more


Paddy Power & Lucky Generals continue ‘You Beauty!’ UK campaign

first_imgShare Related Articles FSB selects Glenn Elliott as new COO August 12, 2020 Share Paddy Power continues its ‘You Beauty!’ campaign, celebrating sports ‘unsung heroes’. This weekend the Irish bookmaker launched its latest ‘You Beauty! The Bus Driver’ campaign advert featuring a long-suffering coach driver and his woes at having to ferry unruly football fans.Launched last November, ‘You Beauty!’ continues Paddy Power’s TV marketing guidance under long-term creative agency Lucky Generals. The UK advertising campaign was the first launched by the bookmaker following the completion of its £7 billion merger with competitor Betfair (completed February 2016).Having undertaken a restructure of its joint marketing resources, London agency Lucky Generals currently acts as the creative lead for FTSE-listed Paddy Power Betfair. In August 2016 Lucky Generals, launched its first Betfair TV campaign ‘Ready?’ in time for the start of the new English football season.Reaction to Lucky Generals work for Paddy Power has been positive with UK marketing news sources pointing that the agency is likely to be pushing the bookmaker towards a new creative direction following its multi-billion merger with Betfair, as Paddy Power Betfair now seeks a more ‘mature brand’ for betting audiences. Flutter moves to refine merger benefits against 2020 trading realities August 27, 2020 ‘Deal maker’ Rafi Ashkenazi ends Flutter tenure  August 27, 2020 StumbleUpon Submitlast_img read more


Catena Media seeks Swedish market boost with €5 million acquisition of

first_img TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Share Catena lauds ‘record’ Q2 as casino drives performance August 19, 2020 Submit StumbleUpon LeoVegas hits back at Swedish regulations despite Q2 successes August 13, 2020 Related Articles Share Stockholm Nasdaq-listed Catena Media continues its affiliate marketing expansion by confirming that it has agreed to acquire Swedish online casino portal for a maximum consideration of €5 million.Updating investors, Catena governance stated that the acquisition would boost the firm’s position as industry leader in Scandinavian player acquisition, furthering its services to Catena client operators.In its acquisition note, Catena governance detailed that it had paid €3.5 million cash upfront to acquire and all its related assets. Catena governance has enhanced the deal to a total consideration of €5 million by attaching a two-year performance related enhancement.The acquired asset will directly contribute to Catena corporate performance as of 1 February 2017.Catena CEO Robert Andersson stated that would form an integral part to his firm’s growing gaming/betting affiliate marketing portfolio, as Catena seeks to become the outright market leader in industry player acquisition.In 2016 Catena Media began its aggressive M&A strategy acquiring leading Euorpean casino information portal for €16 million and leading UK portal for a reported £10 million.last_img read more


Partouche makes online betting comeback with BetConstruct

first_img Share FDJ’s ParionsSport launches sponsorship programme for French amateur football August 24, 2020 Share Vbet sponsors AS Monaco as Ligue 1 kicks off new season August 24, 2020 StumbleUpon Submit Winamax maintains Granada CF sponsorship despite bleak Spanish outlook August 19, 2020 Related Articles French legacy casino operator Partouche Group (Partouche) has confirmed that it will relaunch its online sports betting services utilising industry technology provider BetConstruct’s white label sportsbook solution.Confirming the deal, BetConstruct’s development team will provide Partouche a custom made sportsbook solution for the regulated French online betting market.BetConstruct’s white label provisions will open Partouche betting services to over 30,000 live markets per month, with a further 40,000 pre-match markets serviced, and 140 sports types available to customers.Founded in 1973 by Isidore Partouche, Partouche Group is considered France’s prestige gambling operator servicing + 40 land-based casinos and 7 luxury hotels.“We are welcoming this partnership with BetConstruct to attack the French online betting market. This will give us the opportunity to profit from a growing market while limiting our financial risk,” commented Partouche CEO Fabrice Paire.The BetConstruct partnership will see Partouche renter the French online betting sector, which it serviced in the mid-2000’s under the brand.“France presents a very interesting opportunity for us and joining forces with the Partouche Group as our partner is making our entrance to this market even more exciting,” said BetConstruct CEO Vahe Baloulian.last_img read more


New Dynamics…TAG Media launches ‘Paid Social’ division

first_img StumbleUpon Industry marketing and player acquisition agency TAG Media, has launched a new ‘Paid Social’ division to assist its partners with greater strategic planning and media buying capabilities.The division will be led by Tom Schurch as Head of Paid Social. A seasoned media buying and digital planning specialist Schurch joined the London-based agency this June to help build new agency dynamics for TAG Media.Schurch commented on TAG Media Paid Social services: “We aim to provide market-leading social media marketing services to compliment TAG Media’s existing service offering. Alongside the strong experience the team has in campaign strategy, buying and reporting, we will be offering exclusive products designed to specifically engage the iGaming industry’s target demographic to really put our clients ahead of their competition when it comes to user acquisition, retention, branding or a combination across social media”.Founded in 2015, by industry marketing executive Tom Galanis, TAG Media has become a prominent agency in player acquisition, affiliate marketing and media buying for the igaming and betting sector.Current TAG Media clients include Betsson, BetRegal, Playstudios. The agency has further worked on player acquisition project and strategic planning for Coral UK, Rank Group and Leo Vegas ABTom Galanis, Director at TAG Media, commented: “With 1 in every 3 online minutes spent on social media, adding paid social media marketing to our growing consultancy business is a natural step and one we feel will bring exceptional value to existing and prospective clients and partners, from operator to affiliate. Tom brings strong expertise and will assist operator and affiliate clients in achieving results and guiding them through the ever-increasing compliance minefield that social media channels is throwing up.” Share Submit Related Articles Andy McCue returns to betting with Betsson AB June 22, 2020 GiG lauds its ‘B2B makeover’ delivering Q2 growth August 11, 2020 Betsson outrides pandemic challenges as regulatory dramas loom July 21, 2020 Sharelast_img read more