Future EIOPA stress tests could examine carbon asset risk

first_imgFuture European stress tests of the pension sector are set to examine climate-related risks, following a recommendation by the European Systemic Risk Board (ESRB).Pension funds could also face upper limits on their exposure to high-risk carbon assets, if regulation were adapted in the wake of any stress test results, the board said.The ESRB examined the potential risk resulting from a late low-carbon transition, arguing that belated awareness of the importance of reducing emissions could see an “abrupt” introduction of constraints on the use of high-carbon energy sources.It also suggested that such a shift would increase systemic risks due to the decline in value of carbon-intensive assets and the impact of sudden changes in energy usage. As a result, the report – ‘Too late, too sudden: Transition to a low-carbon economy and systemic risk’ – proposed that future stress testing of the financial sector by the European Supervisory Authorities, such as the European Insurance and Occupational Pensions Authority (EIOPA), incorporate the risk of its ‘hard landing’ scenario.“In particular,” the report adds, “the ESRB macroeconomic scenario [drafted for future stress tests] could incorporate an upward shock in the price of non-renewable energy sources, causing a negative impact on aggregate demand while at the same time ‘turning off’ any positive balance-sheet effects for energy producers and accounting for country specificities.”It also suggests that dedicated carbon stress tests could be conducted to determine the most important systemic risksAs a way of dealing with the risks associated with carbon emissions, the board suggested investors subject to capital charges could see tailored capital surcharges based on the carbon intensity of their holdings, or that there could be upper limits on assets “highly vulnerable” to a rapid transition.EIOPA’s inaugural pension fund stress test exposed the defined benefit sector to two scenarios, including one looking at the impact of a commodities shock.The supervisor’s chairman, Gabriel Bernardino, said it planned to conduct further stress tests in two years, allowing the ESRB to devise its next potential scenario in 2017.,WebsitesWe are not responsible for the content of external sitesLink to ESRB report ‘Too late, too sudden’last_img read more


first_imgILOILO City –The Department of Transportation (DOTr) has dropped the plan to totally phaseout old public utility jeepneys (PUJ) by July 2020. Local transport groupswelcomed the move. But they have some reservations. He added: “Lain gid ya kon kami gapasad. Mabal-annamon ang ibutang nga mga materyales.”/PN Should theyfail to submit their petitions, their routes will be opened to applicationsfrom cooperatives that were able to modernize their units, the DOTr stressed. “We are happy,”according to Raymundo Parcon, president of the Iloilo City Loop Alliance This did notsit well with local transport groups. “Diin nga region may pinakanami mag obrasang jeep? Indi bala diri saIloilo? Kompara mo sa mga kompaniya sangmga salakyan nga haruson isa ka tuig nagakalkal na tungod nga mass producedila. Ti karun magkwa kami sang P2.4million nga salakyan, maglab-ot twoyears basi madagdag na kaha ya,” saidParcon. Passengers wait for their turn to board this jeepney in Barangay Buhang, Jaro, Iloilo City. The jeepney is the core of Philippine public transport. It started as remodeled army vehicles left behind by US forces after World War II. IAN PAUL CORDERO/PN Through Sen.Grace Poe who chairs the Senate public services committee, Parcon’s grouppressed for the following: However, hesaid, there are some points they want to raise to the national government. Jeepney driversare actually not against transport modernization, stressed Parcon, and they infact formed the Western Visayas Transport Cooperative (WVTC) to procure modernjeepneys as required by DOTr. * to considerPUJ rehabilitation instead of purchasing modern but cost-prohibitive PUJs “Imbes nga buligan kami sang gobyerno, daw gina-threaten pa kami,” said Parcon. “We are fortransport modernization. But we want to protect individual jeepney operators,too. The program should not lead to the displacement of individual operatorsdue to the consolidation of their units into transport cooperatives,” saidParcon. * to extend thetransition period of the modernization program for another three to five years.center_img DOTr is lettingold jeepneys remain on roads as long as they pass the motor vehicle inspectionsystem or roadworthiness test. Modern jeepneysare required to have, among others, Euro 4 engines that meet the European Unionemission standards on harmful chemicals (such as toxic sulfur, benzene andcarbon dioxide, etc.), Global Positioning System, automatic fare collectionsystem, dashboard camera, speed limiter, and closed-circuit television camera. He appealed tothe government to let individual jeepney operators buy their own Euro 4 enginesand built the body (kaha) of theirjeepneys instead of outright purchasing a modernized jeepney that costs P2.4million. But under thisrevised timetable, PUJ operators whose units have passed the road worthinesstest will be granted a provisional authority (PA) only that is valid for oneyear. After a year, their units will have to undergo the test again. To apply for aPA, the DOTr said operators must submit a petition for consolidation of unitsfor a transport cooperative in June 2020 as well as a petition stating theirintention to join the modernization program. “We will followthe DOTr criteria for modern jeepneys. We want to have compliant units, too,because we want to officer the public better service,” said Parcon. DOTr said theJune 2020 deadline was scrapped because very few jeepney operators across thecountry have modernized mainly due to financial constraints.  of Jeepney Operators and Drivers Association. Their group isespousing that individual PUJ operators be allowed to modernize their ownunits. Despitedropping the plan to phase out old jeepneys by June 2020, DOTr will still pushthrough the modernization program. “Kon kami mabakal sang makina, kami mapasad sang kaha,malab-ot lang guro sa P1.5million,” said Parcon, stressing that Iloilo jeepney builders are known for thegood quality of their work. Thegovernment’s move to modernize jeepneys aims to improve public transport safetyand minimize air pollution.last_img read more

Menna, Two Newcomers First To Announce In Red Bank Race

first_imgMenna told The Two River Times he was grateful to the party for reaffirming its support for him.“The committee and the local party recognizes that stability has been good for Red Bank,” he said this week. “Although all of us have had our differences on the municipal council on various policy issues, we look to maintain a pretty steady progressive and civil outlook.” RED BANK – Borough Democrats jumped out of the gate early to announce their candidates for the 2018 municipal election, a list that includes a longtime incumbent and two under-30 residents new to politics.At an annual mini-convention held on Feb. 26, Mayor Pasquale Menna overcame a primary challenge and was nominated to run for a fourth term for the mayor’s seat. Political newcomers Hazim Yassin and Kate Triggiano were both picked to run for two seats available on the Borough Council.Ed Zipprich, who is both the Borough Council president and Red Bank Democratic Committee chairman, said this year’s meeting was the first contested convention in over 20 years.Menna has been mayor since being first elected in 2006. He had received public support from many voting Democrats, including new state Sen. Vin Gopal and state Assembly members Eric Houghtaling and Joann Downey (D-11), who all represent Red Bank. Menna was challenged by Ben Forest, a West Side resident, local activist and longtime member of Red Bank Board of Education. Forest subsequently endorsed the party ticket. He said Red Bank is going through a thorough “municipal review” as it looks to solidify its place in Monmouth County, which consistently leans to the right politically.“I think that I have the vision as well as the historical background of being involved in some of these issues to try and deal with these new challenges, at least for a few more years,” Menna said, alluding to addressing af fordable housing obligations and finding the right solution to Red Bank’s downtown parking shortages. “I can help prepare the groundwork for others to take the mantle.”Menna has been a consistent face of Red Bank Democratic politics for years. He served on the Borough Council for 18 years prior to being elected as mayor 12 years ago. Seeking his fourth term, Menna has never faced a primary challenge and has also only faced a general election challenge once – that was in 2006 against Monmouth County Freeholder John P. Curley, a Republican.Should Menna win a fourth term, he would tie former mayor Edward J. McKenna Jr., his predecessor, as Red Bank’s longest-serving mayor.Menna is a lawyer with Red Bank offices and holds a number of political appointments, most notably as the attorney for the Borough of Matawan.Joining Menna on the ticket this year are Yassin and Triggiano, two local activists turned first-time candidates.Yassin is a 28-year-old resident of Branch Avenue who serves as an alternate on the borough Planning Board. He works as a financial representative for the United Wealth Group, based in Monmouth Junction. Last year he served as the president for the American Muslim Action Network and before that was a spokesman for the Islamic Society of Monmouth County, located in Middletown. He’s also treasurer of the Red Bank Borough Education Foundation, which provides STEAM grants to teachers. Yassin said he became an activist last year while working on Gopal’s state senate campaign, which translated to this push to run in Red Bank. He said his two main issues are focused around supporting education services and revitalizing Red Bank’s downtown.“We need to be smarter about how we’re developing and be smarter with how we interact with the business community,” he said. “I don’t think we’ve done a good enough job of building that bridge with RiverCenter,” Red Bank’s business district organization.Yassin also said he’s heard from residents that shopping in the downtown has become too expensive and he’d like to inquire about “bringing some of those lower-cost stores in” to make “a better experience for everybody.” Mayor Pasquale Menna was picked by local Democrats to again lead the ticket and run as mayor for a fourth consecutive time in 2018. If Menna wins, he would tie his successor, former mayor Edward J. McKenna Jr., as Red Bank’s longest tenured mayor. Photo by Jay CookBy Jay Cook | Triggiano, his running mate, has been a familiar face at local progressive events and happenings. She’s a 29-year-old homeowner on Leighton Avenue. Triggiano works as an organizer for Clean Water Action, an environmental advocacy group. She also serves as the chair to the borough’s environmental commission and is on the Red Bank Zoning Board.Triggiano hopes to be “a bigger part of the conversation and the future of our town,” while focusing on issues important to her: environmental work, infrastructure improvements and looking to strengthen Red Bank.“Having all of your residents being comfortable in your town is important,” she said. “I don’t think that’s an East Side/West Side thing, I think that’s a Red Bank thing. If any part of our community feels under attack or unwelcome, I would stand for them.” ON THE OTHER SIDE OF THE AISLEWhile Red Bank’s Democrats have already decided their game plan, the borough Republicans are still crafting theirs, said Michael Clancy, chairman of the Red Bank Republican Committee.“We’re still in the process of figuring that out,” he said this week. “I can’t comment on who it’s going to be yet, but we’re still in discussions about what we’re going to do.”While they have until early April to officially file petitions, those candidates could be the two incumbent Republicans on the Borough Council – Mark Taylor and Michael Whelan, elected in 2015. Clancy said they both have expressed interest in running again.Clancy also said “it’s a possibility” the Republicans will put a candidate up for the mayor’s race, something they haven’t done for 12 years.“There’s potential talks about running somebody up against (Menna),” he added, declining to say who the candidate could be.This article first appeared in the March 8-15, 2018 print edition of The Two River Times.last_img read more


first_imgARCADIA, Calif. (March 4, 2015)–America’s top rated older horse, once-beaten Shared Belief, towers over a field of 13 older horses set to compete in the 78th running of the Grade I, $1 million Santa Anita Handicap presented by San Manuel Indian Bingo & Casino at a mile and quarter this Saturday.With his only defeat coming as the result of a controversial start in the $5 million Breeders’ Cup Classic on Nov. 1, Shared Belief comes off a facile win over reigning Horse of the Year California Chrome in the Grade II, 1 1/8 miles San Antonio Invitational on Feb. 7, his ninth win from 10 career starts.A 4-year-old Kentucky-bred gelding by Candy Ride, Shared Belief has tactical speed, tremendous heart and has proven himself at 1 ¼ miles, as he was an impressive 2 ¾ length winner of the Grade I Pacific Classic, run over synthetic polytrack, on Aug. 24 at Del Mar.A 1 ½ length victor over California Chrome in the San Antonio, he hit the wire with his ears pricked and it appeared regular rider Mike Smith had plenty in reserve. Owned in-part and trained by Jerry Hollendorfer, Shared Belief is based at Golden Gate Fields on the East San Francisco Bay, with Hollendorfer’s wife, Janet. As is his custom, Shared Belief worked Tuesday morning with Russell Baze up, covering a half mile in 50.80, and vanned to Santa Anita Wednesday morning.Hollendorfer, who won the 2008 Big ‘Cap with Heatseeker, will be bidding for his second win in America’s longest continually run “Hundred Grander,” while Smith, who won the race in 2013 & ’14 with Game On Dude, will be seeking an unprecedented third consecutive Big ‘Cap win.In addition to Hollendorfer, Shared Belief is owned by Jim and Janet Rome’s Jungle Racing, LLC, KMN Racing, LLC, Alex Solis II, Jason Litt and George Todaro. Shared Belief, who ended up running a very respectable fourth, beaten 3 ¾ lengths in the Breeders’ Cup Classic, has earnings of $2,332,200.Trainer John Sadler seeks his first-ever Santa Anita Handicap win with Louisiana invader Hard Aces, who comes off a rousing four length minor stakes win going 1 1/16 miles at Fair Grounds in New Orleans on Jan. 17. The 5-year-old horse by Hard Spun earned a career-best 104 Beyer Speed figure and was sold privately to Sadler’s main client, Hronis Racing, LLC. A winner of five races from 19 starts, Hard Aces has a stalking style and will be trying 1 ¼ miles for the first time. He’ll be ridden by Victor Espinoza and he has earnings of $215,145.The formidable trainer/rider combination of Richard Mandella and Gary Stevens will combine forces with Argentine-bred Catch a Flight, who comes off a neck victory in a 1 1/8 miles allowance test at Santa Anita on Feb. 13. A 5-year-old horse by Giant’s Causeway, Catch a Flight, who was a 7 ½ length allowance winner going 1 3/16 miles in Brazil a year ago, will make his third stateside start in the Big ‘Cap and he appears on the improve for Mandella, who has thought highly of him since his arrival last fall.A physically imposing bay, Catch a Flight has seven wins from 12 starts. Should he win on Saturday, Catch a Flight would provide Mandella with his fourth Big ‘Cap win, while Stevens would get his fifth.Trainer Neil Drysdale’s Chilean-bred Bronzo, who was ridden by Stevens in his last two starts on Jan. 10 and Feb. 7, will be handled for the first time by Tyler Baze on Saturday. A Group I winner in Chile 10 months ago, this 6-year-old gelding made his U.S. debut three starts back in the Grade I Breeders’ Cup Dirt Mile on Oct. 31, rallying from off the pace to finish fourth, beaten seven lengths by eventual Eclipse Champion miler Goldencents.   Owned by Don Alberto Stable, Bronzo has two wins from three starts at a mile and a quarter and is 22-11-1-4 overall with earnings of $303,002. It’s expected Bronzo will lag early in the Big ‘Cap and hope to come running late.THE REMAINDER OF THE BIG ‘CAP FIELD: DYNAMIC SKY–Although this 5-year-old Canadian-bred has raced on turf in his last eight starts, he’s in good form and his connections, trainer Mark Casse and jockey Corey Nakatani, must be respected. Nakatani, who won back to back Big ‘Caps with Lava Man in 2006-07, has become a solid fit with Casse, who came to California on a full-time basis this past summer. A graded stakes winner on turf, distance is no question for this long-fused son of Sky Mesa, and one of his five career wins came on dirt.PATRIOTICANDPROUD–Also trained by Casse, he was a sharp second in a pair of Grade II turf stakes, the Hollywood Turf Cup and the San Gabriel Stakes on Nov. 27 and Jan. 3. However, he flattened out through the stetch in the Grade II San Marcos Stakes at 1 ¼ miles on turf Feb. 7. Although winless from four tries on dirt, the 6-year-old Proud Citizen gelding has proven effective at 1 ¼ miles and beyond on both turf and synthetic.COOL SAMURAI–This lightly raced 4-year-old gelding comes off a good second place finish in a one mile allowance behind stakes winner Midnight Hawk on Feb. 6 and has done little wrong for the “Zenyatta connections” of owner/breeders Jerry and Ann Moss and trainer John Shirreffs. Although he’s been a attentive to the pace in his last three starts, Cool Samurai rallied from far off the pace to break his maiden going a flat mile in his second start on Dec. 27, 2013, and new pilot Aaron Gryder may opt to employ similar tactics when trying a mile and a quarter for the first time on Saturday. He’s 6-2-2-1 overall with earnings of $112,750.SR. QUISQUEYANO–A winner of the 1 1/8 miles Sunshine Millions Classic versus Florida-breds on Jan. 17 at Gulfstream Park, this 5-year-old horse by Exclusive Quality earned a career best 102 Beyer Speed figure and will thus make his Southern California debut in the Big ‘Cap. Trained by Florida-based Peter Walder, Sr. Quisqueyano has an impressive overall resume of 29-8-6-3, with earnings of $713,560. Owned by Loooch Racing Stables, Inc., he’ll be ridden for the first time by Joe Talamo.MORENO–Dedicated front-runner has been idle since well beaten in the Breeders’ Cup Classic Nov. 1, a race in which he was slammed hard at the break and taken out of his preferred, pacesetting game. A Grade I winning 5-year-old gelding by Ghostzapper, he’s a fresh and potentially dangerous horse who could try to steal away on a lonely lead. An upset winner of the Grade I, 1 1/8 miles Whitney Stakes at Saratoga four starts back on Aug. 2, he has an overall mark of 23-3-7-3. Owned by Southern Equine Stables, LLC and trained by Eric Guillot, Moreno has earnings of $1,834,940.CRIMSON GIANT–By any accounting, he’s a giant enigma, as his lone win came 57 starts back on Nov. 6, 2011. A 6-year-old California-bred gelding by Formal Gold, Crimson Giant comes off the best race of his career, a nose defeat in a third condition one mile allowance on Feb. 20. Trained by Charlie Stutts and owned by his breeder, Bryan Carney, Crimson Giant earned a career-best 88 Beyer Speed figure when ridden for the first time by apprentice Brandon Boulanger. A maiden $40,000 claiming winner on Nov. 6, 2011, the ever-busy Crimson Giant, who will be making his seventh start of the current Winter Meet, is 66-1-5-15 overall with earnings of $172,642.IMPERATIVE–Although he earned more than $1.2 million last year following a $50,000 claim on Dec. 21, 2013, this 5-year-old gelding by Bernardini has tailed off badly of late, as he’s lost his last three races, the Grade I Breeders’ Cup Classic on Nov. 1, the Group I Champions Cup in Japan on Dec. 7, and the Grade II San Antonio Invitational on Feb. 7, by a combined 33 ¼ lengths. Trained by George Papaprodromou and owned by KM Racing Enterprise, Inc., he has two third place finishes from four tries at 1 ¼ miles and would seem best suited if he can get a stalking trip. Imperative is 22-3-4-3 overall with earnings of $1,340,870.YOU KNOW I KNOW–Trainer John Sadler’s “Avis” choice, he basically split the field in the nine-horse San Antonio on Feb. 7, finishing 8 ½ lengths behind Shared Belief. He gets in light with 115 pounds and will be ridden back by newly turned journeyman Drayden Van Dyke. Well beaten by Shared Belief two starts back in the Grade I, 1 ¼ miles Pacific Classic on Aug. 24, he was third, beaten 8 ½ lengths, in the 2013 Pacific Classic. A deep closer, he’ll hope for a fast early pace. Owned by Chacon and Mangini, Jr., the 6-year-old gelding by Simon Pure is 25-5-1-6 overall with earnings of $398,355.DIAMOND BACHELOR–An impeccably bred 4-year-old colt by War Front, he has yet to meet expectations. A good second two starts back on turf in the Grade II, 1 ¼ miles San Marcos Stakes Feb. 7, he exits a disappointing seventh place run in a 1 ¼ miles turf allowance Feb. 27. Although he has yet to validate his $570,000 2-year-old in training sale purchase price, he has plenty of natural speed and will be ridden by Martin Pedroza, who pulled off a 50-1 shocker in the 1989 ‘Big Cap with Martial Law. Trained by Patrick Biancone, Diamond Bachelor has two wins from 17 starts and earnings of $189,270.The complete field for the Santa Anita Handicap, to be run as the 11th and final race Saturday, with jockeys, weights and morning line odds in post position order: Cool Samurai, Aaron Gryder, 114, 30-1; Diamond Bachelor, Martin Pedroza, 114, 50-1; Sr. Quisqueyano, Joe Talamo, 115, 10-1; Dynamic Sky, Corey Nakatani, 117, 15-1; Shared Belief, Mike Smith, 125, 3-5; Moreno, Santiago Gonzalez, 121, 6-1; Patrioticandproud, Elvis Trujillo, 116, 20-1; You Know I Know, Drayden Van Dyke, 115, 30-1; Crimson Giant, Brandon Boulanger, 114, 50-1; Imperative, Kent Desormeaux, 117, 30-1; Bronzo, Tyler Baze, 117, 10-1; Catch a Flight, Gary Stevens, 114, 12-1, and Hard Aces, Victor Espinoza, 115, 12-1.last_img read more

Fluffballs in Space Shouldn’t Exist

first_imgA rubble-pile asteroid has such low density it should have disintegrated, but it’s doing just fine.A near-earth asteroid named 1950 DA is barely holding itself together, astronomers have found.  In Science Magazine, Eric Hand asks “Why hasn’t this asteroid disintegrated?”Planetary scientists have found an asteroid spinning too fast for its own good. The object, known as 1950 DA, whips around every 2.1 hours, which means that rocks on its surface should fly off into space. So apart from gravity, some other sticky force—identified in a new study—must help to hold the asteroid together.Nature gives an even more graphic description:Our logical concepts for how asteroids should behave have taken another knock, as evidenced in a paper by Rozitis et al. on page 174 of this issue. The researchers establish that a kilometre-sized, near-Earth asteroid known as (29075) 1950 DA is covered with sandy regolith (the surface covering of an asteroid) and spins so fast — one revolution every 2.12 hours — that gravity alone cannot hold this material to its surface. This places the asteroid in a surreal state in which an astronaut could easily scoop up a sample from its surface, yet would have to hold on to the asteroid to avoid being flung off.Scientists’ best explanation is that atomic forces called van der Waal’s forces are providing the edge over gravity alone, otherwise this body should be too flimsy to exist.  These are the same atomic forces thought to allow geckos to stick to walls and ceilings.  Stephen Lowry discusses this force on The Conversation.Nature explains why this is significant: “Although this image of fairy-castle asteroids is entertaining, the implications of these measurements are far-reaching…. ”The evident stability of such a strange body as 1950 DA exposes our ignorance of how the geophysics of asteroids works in the microgravity regime, with its current state being difficult to reconcile with classical views of how rubble-pile bodies form from catastrophically disrupted parent bodies. Although Rozitis et al. lay out a plausible story for the current state of 1950 DA, the development of a complete theory of microgravity geophysics could have significant consequences, beyond this single case, for our evolving understanding of asteroids and the Solar System.This finding will also impact plans to disrupt near-earth asteroids that some day find themselves with our planet in its cross-hairs.  Astrobiology Magazine says that trying to disrupt a large rubble-pile asteroid might create several dangerous bodies out of one.  These small, sticky asteroids might be the most dangerous, New Scientist warns.  Lowry thinks that disrupting one might allow centrifugal forces to overtake the van der Waals force (which only acts over small distances), resulting in complete disintegration of the body.  Those are questions for governments to worry about if one is ever discovered on an impact trajectory.  The question for now is: how long can these bodies exist in a tenuous balance of forces?This is a worthy class of objects to study for possible age determinations: how long can a body like this exist before disrupting by encountering other bodies?  This one seems in a delicate balance.  One would think after very long it would disintegrate, with all the solar and planetary disturbances at work.  How many rubble-pile asteroids are there?  Can dust come together like this?  Many questions need new thinking, since the standard story was caught unprepared. (Visited 20 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

SA awards R51bn rail upgrade contract

first_img7 December 2012 The Passenger Rail Agency of South Africa (Prasa) has named the Gibela Rail Transportation consortium, led by French company Alstom, as the winner of a multi-billion rand contract to design, manufacture and supply new trains and wagons for the country’s massive railways overhaul. “The ageing fleet combined with rapidly growing passenger need has led Prasa to focus on scaling the rolling stock investment as part of a broader strategy to acquire modern technology to meet changing demands,” Prasa chief executive officer, Lucky Montana, said in a statement on Wednesday. “The Prasa rolling stock fleet renewal programme is the catalyst for the transformation of Metrorail services and public transport as a whole.” Current Metrorail operations in Gauteng, Durban, Western Cape and Eastern Cape are serviced by 4 638 coaches, and approximately 90% of the rolling stock in operation dates back to the late 1950s.Intensified efforts to invest in rolling stock “The average age of the current coaches is 39 years, while the lifespan of railway rolling stock is of the order of an average 46 years,” Montana said. “Prasa has in the past two years intensified its efforts to invest significantly in new rolling stock over the next 20 years, with the first trains expected to be delivered in 2015.” The programme is looking to acquire 7 224 electrical multiple units, with an estimated investment of R123-billion over a period of 20 years between 2015 and 2035. It has been divided into three components: 5 256 vehicles to meet existing rail passenger demand on the current network until 2020; 456 vehicles to satisfy growth in rail passenger demand on the existing network until 2030; and a further 1 512 vehicles to meet long-term rolling stock needs as part of future expansion. Of seven groups to submit bid responses, the Gibela consortium led by Alstom and including local engineering company Actom was selected as the preferred bidder.‘Investing in development’ “While the urgent challenge to improve passenger services remains primary, the rolling stock fleet renewal programme has been designed to achieve a number of key government objectives,” he said. This includes the “delivery of quality services to citizens, revitalisation of South Africa’s rail engineering industry through local manufacturing and ensuring local content as part of government’s Industrial Policy Action Plan, employment creation, skills development and broad-based black economic empowerment”. SAinfo reporter As the preferred bidder, Gibela will offer 3 600 vehicles delivered over a 10-year period from 2015 to 2025 at an expected cost of R51-billion; maintenance, spares supply and technical support over 18 years from 2015 to 2033; and 8 088 direct jobs created. Gibela will also spend R797-million on skills development initiatives, R746-million on enterprise development in the rail sector and R273-million on socio-economic development contributions. A target of local content of 69% by the second year of the project was also set, in addition to preferential procurement policies such as R32.8-billion to be spent on subcontracting to black empowered entities, R5.3-billion on subcontracting to qualifying small enterprises and exempted micro enterprises and R1.6-billion on entities owned by black women.last_img read more

Ohio Ag Weather and Forecast, February 19, 2019

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Today is the easy part of the forecast. High pressure is passing by to the north this morning, moving across southeast Michigan and ending up over Lake Erie and north central Ohio by mid to late morning. We should see sunshine for at least part of the day, but clouds will be increasing this afternoon ahead of our next storm complex. This storm is growing in intensity and will be putting down wet snow back in the central plains and MO valley today.A strong winter storm moves into the eastern corn belt overnight tonight and tomorrow. We have potential for accumulation of heavy, wet snow at the outset of this system, before action turns to rain. From US 30 northward, we are looking for a coating to 3 inches. South of US 30, we see 3-6 inch potential. However, here is the problem. We also have a concern about ice sneaking in over central Ohio too, as action changes from snow to rain through the day. We think the threat is lower here than back west in Indiana, but we are not ruling it out.  Our main concern is warm air coming in faster at higher elevations than at the surface, and that creating some freezing rain. That would lessen the potential for the 4 or 5 or 6 inch snow totals but open up a whole lot of other problems. So, we are saying to be on the lookout for Ice. It can be a mess either way. The entire state is changed over to rain by midday, and then we can add another .25”-.75” of liquid before everything is done Thursday morning. The total liquid equivalent precipitation for this event will be from .3”-1.5” over the entire state, which the map shows at right.We are dry for Thursday and Friday and should see some sunshine for that period. However, precipitation is back for Friday night through the weekend. Friday night through Saturday we see rain mostly over the southern part of the state, from US 50 southward. Farther north we see just clouds, or even clouds and some Saturday sun. But, from Saturday night through Sunday midday, we have a second, much stronger wave of moisture coming. Rain can be from .5”-2” over 100% of the state. The heaviest rains come around midnight Saturday night through Sunday morning.We turn partly sunny Sunday afternoon, and it will be windy. Then we put together several nice days from Monday through next Wednesday, with near normal temps and low winds. The next batch of precipitation we are watching rolls in overnight nest Wednesday night into Thursday early morning, bringing .25” to .5” of moisture with 70% coverage. There is a chance that some of that rain ends as snow Thursday morning, with a change to windy, much colder air. That may even allow some flurries to linger all day over far north and northwest Ohio next Thursday.A quick moving system brings snow for next Friday, a coating to 2 inches. Then for the extended period, we have a nice weekend to start off March: mixed clouds and sun, right on into Monday, the 4th. However, we finish the extended period with a massive rain maker Action may start on Tuesday the 5th with 1-3 inches of wet snow, but then snow turns to rain and through Wednesday the 6th we can see cumulative rain totals at half to 1.5” over 100% of the state. It will be an impressive early March storm.last_img read more

Jaguar Land Rover slash prices of Land Rover Discovery Sport, Range Rover Evoque by up to Rs 4.08 lakh in India

first_imgTata Motors-owned Jaguar Land Rover (JLR) has slashed prices of its two models in India by up to Rs 4.08 lakh to take on German rivals.The company has cut the price of diesel-powered Land Rover Discovery Sport by Rs 4.08 lakh to Rs 43.8 lakh from the earlier price of Rs 47.88 lakh (ex-showroom Delhi).Besides, it has also reduced price of Range Rover Evoque diesel by Rs 3.25 lakh to Rs 45.85 lakh from Rs 49.10 lakh earlier.Range Rover Evoque”Land Rover cars are increasing in popularity and in order to expand the reach of this iconic brand, we have revised and re-positioned the prices of some of our products,” JLR India Managing Director Rohit Suri told PTI.The move would help the company make its products competitive and thus enabling more customers to join the Land Rover family in India, he added.Land Rover Discovery SportThe two vehicles compete with the likes of Audi Q3, Q5, Mercedes GLC, GLE and BMW’s X3.JLR sells a range of models through 24 authorised outlets in the country.ALSO READ:Jaguar pairs the F-TYPE with its new 2.0-litre Ingenium petrol motorALSO READ:JLR unveils new Range Rover Velar, Jaguar I-PACE ConceptALSO READ:Dealers start taking bookings for diesel Jaguar XE in Indialast_img read more