4 Jul

News / Air freight industry failed its high-paying customers in a fourth quarter of ‘complete mayhem’

first_img The fourth quarter of last year was “complete mayem”, as an unprepared air cargo industry failed its customers.Russi Batliwala, CEO of Chapman Freeborn, berated the “unreliable” air cargo industry for letting down shippers, who were also forced to pay high rates.Claiming the industry had failed, he told delegates at Air Cargo India in Mumbai this morning: “The fourth quarter was complete mayhem. Availability was extremely limited. We’ve got people like Airbus and Boeing, IATA, legacy carriers, but we failed.“We were caught with our pants down. Airlines were not prepared for the major upturn. There were no extra crews, aircraft were in maintenance, there were less freighters operating – as an industry we weren’t prepared. By Alex Lennane in Mumbai 20/02/2018 “It wasn’t just freighters but bellies too. Why? We all knew it was coming. There had to be room for ecommerce too.”He added it was not just the airlines that misread demand. “Some airports weren’t prepared. There were many instances of aircraft being delayed, or half loaded – there were not enough resources to handle the cargo. Some airports couldn’t take extra freighters, and some handlers couldn’t handle the demand.“Low cost carriers were prioritised, and while there was a move to secondary airports to get the planes in and out, the airports weren’t prepared. The handlers didn’t have enough staff.”While most in the air cargo industry have expressed relief at the demand, and joy at high rates after a long time in the doldrums, Mr Batliwala pointed out that it had not been good for the customer.“The industry was ill-prepared. How did that happen? And yet the shippers had to pay more.”The problems, mostly in Europe, were compounded by bad weather and industrial action, he added.“I think we did very badly. There was no Plan B. Everything came to a stop.”He urged India, possibly on the verge of significant growth in air cargo and hoping for 20% growth rates, to learn from the mistakes of its western counterparts.“India – are you prepared for these swings? Can you learn from these mistakes? Do you have the infrastructure? Volatility in this industry is proven.”Glyn Hughes, cargo chief for IATA, agreed that “growth does come with challenges”.“A 0.2% rise in trade is significant volumes to air.”Hemanth DP, COO of Aerocommercial cargo for GMR Airport, responded: “We are taking steps to get there. We are adding terminals, perishable facilities and unlike Europe we do not discourage freighters from flying to primary cities.” Although, he acknowledged, “some airports to need to catch up”.Keku Gazder, CEO of AAI Cargo Logistics, said investment was at the top of the list for Indian airports, while Dheeraj Kohli, vice president of Unisys, said that no one could be ready until there was a backbone of data to support the industry.last_img read more

23 Jun

Pfizer wins appeal against record price-gouging fine set by U.K. antitrust watchdog

first_img What is it? @Pharmalot Pfizer wins appeal against record price-gouging fine set by U.K. antitrust watchdog Spencer Platt/Getty Images By Ed Silverman June 8, 2018 Reprints Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. Log In | Learn More STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Ed Silvermancenter_img Tags drug pricinglegalpharmaceuticalsSTAT+ In a boost for Pfizer (PFE), a U.K. appeals tribunal ruled against an antitrust watchdog that had fined the big drug maker and a small generic company for alleged price gouging in connection with an epilepsy pill. As a result, the case was referred back to the U.K. Competition and Markets Authority for further consideration, although the agency may appeal the decision.Here’s the back story: In late 2016, the CMA had fined Pfizer and Flynn Pharma a record $113 million for deliberately exploiting their dominant market positions by jacking up the price of the epilepsy drug. In explaining the decision, the agency maintained the companies caused the U.K. National Health Service to unnecessarily pay “excessive” prices. Pfizer’s share of the fine was $106 million. Both companies had appealed. What’s included? About the Author Reprints Pharmalot Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED [email protected] GET STARTEDlast_img read more

23 Jun

Blueprint Medicines partners with Roche to develop and sell genetically targeted cancer drug

first_img What’s included? Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Log In | Learn More Scanning electron micrograph of a cultured lung cancer cell. Anne Weston/Francis Crick Institute via Wellcome @adamfeuerstein Blueprint Medicines is partnering with Roche to develop and market a cancer drug near approval for use in patients with tumors that test positive for a specific genetic mutation.The drug at the center of the deal is a pill called pralsetinib, created and developed by the Cambridge, Mass-based biotech to target solid tumors with alterations to a gene called RET. Blueprint has already submitted pralsetinib to the Food and Drug Administration and European regulators seeking approval to treat patients with RET-driven, non-small cell lung cancer. STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. What is it? Blueprint Medicines partners with Roche to develop and sell genetically targeted cancer drug Biotech center_img GET STARTED About the Author Reprints Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+. First 30 days free. GET STARTED By Adam Feuerstein July 14, 2020 Reprints Adam Feuerstein [email protected] Senior Writer, Biotech Adam is STAT’s national biotech columnist, reporting on the intersection of biotech and Wall Street. He’s also a co-host of “The Readout LOUD” podcast. Tags BostoncancerSTAT+last_img read more

18 Jun

Great West Lifeco proft rises in Q4

Canadian banks to focus on growth, spending and buybacks after strong second quarter Facebook LinkedIn Twitter Laurentian Bank reports $53.1M profit in Q2, beats expectations Great-West Lifeco Inc. (TSX:GWO) has reported a more than one-third increase in its fourth-quarter net income, citing among other things a big after-tax gain from funds freed up from a litigation reserve. Winnipeg-based Great-West, a subsidiary of the Power Financial Corp (TSX:PWF), said net earnings attributable to common shareholders were $624 million or 65 cents per diluted share in the three months ended Dec. 31. Related news Share this article and your comments with peers on social media That compared with $465 million or 49 cents per diluted share in the same 2010 period. Total income in the three months ended Dec. 31 was $8 billion, up from $5.2 billion. Premium income was $4.3 billion, versus $4.6 million in the prior-year period. For the full year, net earnings attributable to common shareholders was $2 billion or $2.11 cents per share on total income of $29.9 billion, compared with net earnings of $1.6 billion or $1.69 cents per share on total income of $30.1 billion. During the quarter, Great-West said it reduced a litigation provision established in the third quarter of 2010, increasing after-tax net earnings of common shareholders by $223 million. The company also established a provision for $99 million after tax in respect of the settlement of a litigation relating to the company’s investment in a U.S.-based private equity firm. The net impact was an after-tax gain of $124-million or almost 13 cents per share. Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Its consolidated net earnings include the profits of several companies including The Great-West Life Assurance Company, Canada Life Financial Corp., London Life Insurance Co. and Putnam Investments LLC. Great-West has operations in Canada, the United States, Europe and Asia. Consolidated assets under administration as of Dec. 31 exceeded $502 billion, up $15 billion from Dec. 31, 2010. Canaccord reports record revenues, drops proposal to acquire RF Capital Keywords EarningsCompanies Great-West Lifeco Inc. read more

18 Jun

ESMA adopts temporary measures on CFDs and binary options

first_img Related news Aussies join binary options ban Keywords CFDs — Contracts for difference,  Binary optionsCompanies European Securities and Markets Authority Share this article and your comments with peers on social media “The measures ESMA has taken today are a significant step towards greater investor protection in the EU,” says Steven Maijoor, ESMA chairman, in a statement..“The new measures on CFDs will, for the first time, ensure that investors cannot lose more money than they put in, restrict the use of leverage and incentives, and provide understandable risk warnings for investors. ESMA’s prohibition on the marketing, distribution or sale of binary options to retail investors addresses the significant investor protection concerns caused by the characteristics of this product,” Maijoor adds.The restrictions will be in effect for three months, during which ESMA will monitor and assess the impact of these measures, and consider whether to extend them for a further three months. FCA bans offshore firms for fake celeb endorsementscenter_img The European Securities and Markets Authority (ESMA) has finalized new measures to bolster investor protection by banning trading in binary options for retail investors and setting certain restrictions on trading in contracts for difference (CFDs), the authority announced on Friday.Both efforts are subject to short transition periods. The prohibition on the marketing, distribution, or sale of binary options to retail investors takes effect on July 2. The restrictions on the marketing, distribution and sale of CFDs to retail investors (which includes leverage limits, margin restrictions, and a ban on certain incentives) kicks in on Aug. 1. OSC sanctions binary options enabler James Langton Facebook LinkedIn Twitterlast_img read more

17 Jun

Quality must be Central to Production – MITEC Director General

first_imgQuality must be Central to Production – MITEC Director General UncategorizedJuly 29, 2006 RelatedQuality must be Central to Production – MITEC Director General Advertisements RelatedQuality must be Central to Production – MITEC Director Generalcenter_img FacebookTwitterWhatsAppEmail Director General in the Ministry of Industry, Technology, Energy and Commerce, Karlene Francis, has charged business operators in the Small and Micro Enterprise (SME) sector, to institute quality assurance measures in order to enjoy better levels of international acceptability of their products.Stressing that the Ministry was aiming “to create the best possible climate for our businesses to improve the quality of their products and services and to ensure that there is a robust quality infrastructure that support business excellence,” Miss Francis implored businesses to focus on quality in their production systems.The Director General was delivering the main address at the Quality Jamaica ISO (Project International Standards Organization) 9000/14000 and HACCAP (Hazard Analysis and Critical Control Point) awards ceremony for the training of standards certification trainers held at the Knutsford Court Hotel yesterday (July 28).She said quality assurance was crucial as Jamaica sought to participate in international trade, protect consumers, and nurture domestic industries. “This programme is a critical building block for the certification of Jamaican business that conforms to international standards. It seeks to provide a cadre of auditors, trainers and consultants for the implementation of IS0 quality management systems in SMEs,” Miss Francis said.She stressed that small businesses especially needed to be certified so as to derive the economic benefits which were, according to global research, well established.Miss Francis implored more businesses to become compliant by capitalizing on the training available through the Bureau of Standards Jamaica (BSJ) Quality Jamaica Project.To date, a total of 17 companies have implemented quality management systems under the project, and are now advancing to the higher certification levels of ISO 9001/2000 and 14000/2000 environment system. The Caribbean Producers group received the award for the Most Committed SME to have completed HACCAP certification.Stating that the small business sector was a vital engine for national development, contributing approximately 56 per cent of global Gross Domestic Product and employing up to 90 per cent of the global work force, Miss Francis emphasized that having a fully certified SME sector would augur well for the Brand Jamaica concept, as well as contribute to the country’s bottom line in the future.“According to projections, [SMEs] will be responsible for the bulk of the 134,000 jobs that will be needed in Jamaica by the year 2007,” she said.Miss Francis also pointed out that standards certification was becoming increasingly necessary for the country’s ability to compete on the global market.Stating that the European Union had made “HACCAP certification mandatory for all suppliers seeking to export fresh produce and processed foods,” Miss Francis emphasized that this was an indication of how important it was for local companies to implement and be guided by internationally recognized quality foods safety, and environmental standards.“By employing ISO 9000/1400 and HACCAP systems, our SMEs will be able to improve the quality of their products and services and gain access to these overseas markets. It has been proven that business that have these systems operate more efficiently and are able to reduce production time and cost,” she said.Meanwhile, Deputy Representative at the Inter-American Development Bank (IDB), Oscar Spencer, implored businesses to take advantage of grant funding for staff training towards ISO-9000 and HACCP certification.Stressing that as Jamaica sought to penetrate the ready-to-eat food markets, consistent, compliant and reputable food safety standards was paramount, Meanwhile, Managing Director of Jamaica Producers Limited, Dr. Marshall Hall, warned against having less than optimum quality products entering or leaving Jamaica for domestic markets.He insisted that “Jamaica being a tourist-oriented country, must regard environmentally friendly processes as the normal way to do business. The order to do this must be routine and comprehensive,” he said.Dr. Hall pointed out that whilst getting standards certifications was important, maintaining them was even more valuable to Jamaica’s ability to compete with other countries with similar products.Some 118 persons were certified as consultants in this phase of the ISO 9000/1400 and HACCAP certification project. RelatedQuality must be Central to Production – MITEC Director Generallast_img read more

17 Jun

Citizens Security and Justice Programme Receives $682.8m

first_imgRelatedCitizens Security and Justice Programme Receives $682.8m RelatedCitizens Security and Justice Programme Receives $682.8m RelatedCitizens Security and Justice Programme Receives $682.8m FacebookTwitterWhatsAppEmail An allocation of $682.8 million has been set aside in the 2008/09 Estimates of Expenditure, currently before the House of Representatives, for the Citizens Security and Justice Programme (CSJP) in the Ministry of National Security.The Programme, which commenced in September 2001, is aimed at preventing and reducing violence; strengthening the crime management capabilities of the security forces, and improving the delivery of judicial services. Twice extended in September 2005 and March 2007, the programme is scheduled to end in September 2008.Up to January 2008, the CSJP had seen the: development of an integrated management system, linking the courts, Department of Correctional Services (DCS), and Jamaica Constabulary Force (JCF); training of 80 DCS staff members in the new Risk/Needs Assessment Instrument for incarcerated offenders; training of 128 Family Court staff members in Kingston and St. James; completion of 20 Rapid Impact projects in 13 communities; refurbishing of the reception areas at the Cross Roads, Central, and Allman Town police stations; provision of educational and training opportunities, inclusive of scholarships, to 4,000 persons; and establishment of 13 Community Action Committees (CAC), from which 135 persons were trained in organizational development and leadership skills.Other achievements included: delivery of educational, cultural, and conflict resolution services to approximately 7,000 persons in 15 communities by six Non Governmental Organizations (NGOs); renovation of community multi-purpose centres at Fletcher’s Land and Tower Hill, which have been furnished and equipped.Work is ongoing at six others, including Cassia Park and Drewsland, which are at various stages of completion. Under the programme violence prevention programmes have been implemented in six communities in St. James, and one in Westmoreland; and equipment has been provided for the St. James Resident Magistrate’s Court. Work is also currently in progress on contract to design the Department of Correctional Services’ Transformation Centre, of which the scope of works is to be expanded.Anticipated targets for 2008/09 are: substantial completion and implementation of the Integrated Management Information System; completion of the Drewsland Community Multi-purpose Centre; and renovation and equipping of the Denham Town, August Town, Waterhouse and Parade Gardens multi-purpose centres; completion of seven Rapid Impact Projects; provision of certified skills training (HEART/NTA Certification) to approximately 1,000 persons drawn from 15 communities; and delivery of educational/conflict resolution services to approximately 3,000 persons, strengthening of 10 parenting groups, and establishing four cultural groups by six NGOs.The programme will also seek to provide: tuition support to approximately 150 secondary and tertiary students, and back-to-school assistance to 150 primary school students; administrative support for 15 Community Action Committees; complete design work and commence construction/refurbishment work on the DCS Transformation Centre, and continuation of violence prevention programmes in the communities of Granville, Farm Heights, Mount Salem, Salt Spring, North Gully, and Flankers in St. James, and Russia in Westmoreland.Funding for the CSJP is being jointly provided by the Government of Jamaica and the Inter-American Development Bank (IDB).center_img Citizens Security and Justice Programme Receives $682.8m UncategorizedApril 1, 2008 Advertisementslast_img read more

17 Jun

Public Sector Customer Service Competition Launched

first_imgRelatedPublic Sector Customer Service Competition Launched RelatedPublic Sector Customer Service Competition Launched Public Sector Customer Service Competition Launched UncategorizedJuly 4, 2008 RelatedPublic Sector Customer Service Competition Launchedcenter_img FacebookTwitterWhatsAppEmail The 2008/09 Public Sector Customer Service Competition was officially launched today (July 3), at a ceremony held at Jamaica House.Minister of State with responsibility for Project Implementation and Service Delivery in the Office of the Prime Minister, Daryl Vaz, explained that the competition would allow the hard working and dedicated staff of the public sector to be rated by persons they serve on a daily basis.“The competition and activities associated with good customer service such as the Citizens’ Charter Programme is testimony to the Government’s commitment to realising the vision of a customer oriented public sector, where the needs of the customer are given priority,” Mr. Vaz said.“From time to time, many public sector workers would have received commendation from individuals for the professional manner in which they perform their duties and the respect they show to the public. This competition allows for the validation of those comments by the deliberate canvassing of views and opinions of the wider cross section of society,” he added.Mr. Vaz pointed out that the quality of service offered in the public sector must be consistent throughout every ministry and agency of Government. He also noted that public sector workers should strive to deliver the highest quality of service possible, as the customer “demands no less in this world.”The State Minister said it was well known that many areas of the public sector are still in need of a lot of improvement in relation to quality service delivery.“As Minister responsible for customer service, I yearn for the day and the sooner the better, when the first words uttered by public servants including Ministers, will inform them how, when and where to obtain quality service in good record time,” Mr. Vaz said.Meanwhile, the State Minister pointed out that so far, 108 agencies have developed Citizens’ Charters for their organisations, several of which have had those charters revised to ensure that they remain relevant to the changing needs of the society.“I urge other public sector entities to come on board as the Cabinet office stands ready to provide the necessary guidance,” Mr. Vaz said.The competition seeks to have a culture of service embedded within the public sector, as each employee is encouraged to commit to providing quality service. “It also aims to recognise and reward workers in organisations that are committed to the process, especially if we want to encourage further and continuous improvement in service delivery,” Mr. Vaz explained.Each public sector agency is eligible to participate in all categories of the competition, but only those with a Citizens’ Charter are eligible for the Best Customer Service Agency Award. Winners will be announced in March 2009. Advertisementslast_img read more

15 Jun

They came, they drove, they set a record

first_img RELATED TAGSMcLarenSennaSupercarLuxury CarsSupercarsLuxury VehiclesNew VehiclesSupercarsVancouver PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca ‹ Previous Next › advertisement VANCOUVER — They came, they drove, they set a record. While it’s not official yet, Hublot Diamond Rally organizers are confident that last weekend’s event at Pemberton Airport set a Guinness Book of World Record for the most luxury/supercars ever parked together on an airstrip.“Our final count was 294 luxury and supercars on the airport runway at one time,” rally organizer Craig Stowe said, adding that was also the most vehicles to take part in the rally since its inception in 2013. “I was quite shocked at that number. If I thought that we could reach 300 I would have let more people attend.” Created with Raphaël 2.1.2Created with Raphaël 2.1.2Robbie Dickson’s McLaren Senna led the record-setting charge.Sapphire Creative Created with Raphaël 2.1.2Created with Raphaël 2.1.2And also took to the runway for a drag race with the photo team’s helicopter.Low Key Collective Created with Raphaël 2.1.2Created with Raphaël 2.1.2A view from the helicopter as it prepares to take to the sky for the record-setting photo shoot.Sapphire Creative Created with Raphaël 2.1.2Created with Raphaël 2.1.2Yes, even some luxury SUVs were part of the mix.Sapphire Creative Created with Raphaël 2.1.2Created with Raphaël 2.1.2The orderly parking job was almost as impressive as the assembled vehicles. Almost.Sapphire Creative Created with Raphaël 2.1.2Created with Raphaël 2.1.2Kevin Gordon’s heavily modified 2018 Lamborghini Huracan Performante was a popular photo subject.Sapphire Creative Created with Raphaël 2.1.2Created with Raphaël 2.1.2Got a favourite?Sapphire Creative Created with Raphaël 2.1.2Created with Raphaël 2.1.2 Take our word for it: there are indeed 294 luxury and supercars assembled on the Pemberton Airport runway to set a new Guinness record.  Sapphire Creative The Rolls-Royce Boat Tail may be the most expensive new car ever “The next step to making the record official is to submit the photographic and video records to Guinness,” explained Stowe, adding, “I think we have enough photographic evidence that it cannot be denied.”As much as Stowe is pleased with that number of 294, it’s the much bigger number of 2.2 million that he is most proud of. That’s the amount raised in it seven year history for local, provincial and national charities. And he sees that number only growing in the coming years.“It’s become a strong annual event that is built into the car culture of the Lower Mainland now,” Stowe said, citing a number of reasons for its popularity. “The rally’s format is somewhat unique, it has a strong charity component, and it offers a great drive up and down the Sea-at-Sky Highway.”This year’s event also took on an international flavour, with 35 drivers bringing cars up from Washington State.    The world record attempt was the idea of Vancouver entrepreneur and supercar owner Robbie Dickson, who is a founding driver of the charity fundraising rally. Fittingly, Dickson’s McLaren Senna was at the sharp end of the assembled vehicles for the all-important helicopter-based photo shoot. Without those photos, there’d be no record. Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” Trending in Canada We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Trending Videos COMMENTSSHARE YOUR THOUGHTS See More Videoslast_img read more

14 Jun

Ralphie exhibit opens at the Heritage Center this Saturday

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Categories:ExhibitsEvents & Exhibits Published: Aug. 26, 2016 center_img Get to know your favorite buffalo this Saturday! Join us for the opening of “Here Comes Ralphie!” from 10 a.m. to 4 p.m. on Saturday, Aug. 27 at the Heritage Center. This special exhibit focuses on the early history of CU mascots and everything you want to know about Ralphie!Ralphie will be outside Old Main from noon to 1 p.m. and Chip will be at the Heritage Center from 11 a.m. to 1 p.m. The exhibit is open to the public and admission to the Heritage Center is always free.last_img read more