Bank of England pushes back date for changes to Sonia, an alternative to Libor for some contracts

Sonia is based on the amount of unsecured overnight sterling transactions which are brokered in London each day. It is considered by some to be a good alternative to Libor for underpinning contracts, the latter’s reputation having been tainted by claims it was regularly rigged in the years leading up to the financial crisis. Read more: Bank of England: Sorry, vegans. We’re keeping the polymer £5 noteThe Bank, which is running an ongoing consultation into how Sonia should be determined in a bid to lessen the chances it could be manipulated, also today proposed using a trimmed mean approach. With this method, the rate would be based on the mean average of brokers’ figures but outlying numbers would be dropped from the final average calculation.At the moment, Sonia is calculated using a volume-weighted mean.Read more: The Bank’s lack of diversity is fuelling dangerous self-confidenceIn a consultation paper released last October, the Bank, which has been responsible for overseeing the rate since last April, proposed using a volume-weighted median. However, some of the respondents noted this measure could cause the rate to shift drastically if the sample pool of rates was very diverse on any particular day. whatsapp Share Bank of England pushes back date for changes to Sonia, an alternative to Libor for some contracts Thursday 16 February 2017 2:35 pm whatsapp Hayley Kirton The Bank of England today announced it was delaying changes to the way a key interest rate benchmark is calculated.The Old Lady of Threadneedle Street was due to implement changes for how the Sterling Overnight Index Average (Sonia) is calculated by the end of this year, but announced this morning the new calculations would instead be put in place in March or April 2018. Read This NextIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamourWhat Causes Hair Loss? Every Trigger ExplainedVegamourSmoking and Hair Loss: Are They Connected?VegamourThis Is How Often You Should Cut Your HairVegamourWant Thicker Hair? Follow These 12 StepsVegamourHow Often Can You Dye Your Hair?VegamourTips & Tricks for Styling Thin HairVegamour16 Foods to Grow Your Healthiest Hair EverVegamour read more

Hiring intentions climb at financial services firms as Brexit nears

first_img With the latest Brexit deadline just over a month away, firms around the UK are looking to hire new staff at the fastest rate in nine months to help them deal with the transition, according to the latest employment outlook survey from staffing firm Manpower Group. Yet Hick warned that companies are employing people who can be laid off later rather than making longer-term investment decisions. Harry Robertson “Within the last few months we have seen the top City law firms dramatically raise starting salaries for newly qualified solicitors to the £100,000 mark. In some cases, earnings can be as much as £140,000 in US law firms.” Firms in the finance and business services sector intend to take on new staff at the fastest rate in over a year as they ready themselves for the 31 October Brexit deadline, a survey has shown today. Read more: BoE chief economist cautions against interest rate cut with employment high James Hick, managing director at Manpower Group Enterprise, said a key driver of hiring intentions among finance and business services firms was “organisations planning and having to manage their Brexit plans”. whatsapp “That is really reinforced by the productivity numbers,” he said. “Growth in output per hour has really been very sluggish… but jobs growth keeps growing.” Hiring intentions climb at financial services firms as Brexit nears Meanwhile, low levels of unemployment and competition over top candidates has seen starting salaries in professional services balloon, with some law firms offering £140,000. “A lot of that comes into tax planning,” he said, “for example for a lot of the large London, City-based organisations.” “It underlies that point that [firms] continue to hire not invest… short term it’s good news, long term it’s very bad news.” whatsapp “For example, they may be operating in different countries, setting up in different territories, or coming out of different territories for one reason or another.” Read more: Boris Johnson warned of ‘Hurculean task’ over no-deal Brexit trade deals “Law firms have capitalised on the uncertainty created by Brexit and are resorting to significant increases in salaries of their newest talents to stave off competition,” Hick said. Tuesday 10 September 2019 12:45 am Share A rise in hiring intentions combined with low unemployment has seen some professional services firms ratchet up their starting salaries to attract their desired candidates. last_img read more

Don’t let the socialists win the argument – capitalists have solutions to inequality too

first_imgAll these ideas make sound economic sense in their own right, but they would also address poverty and inequality far more effectively than just raising taxes.  by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past Factoryzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comMisterStoryWoman files for divorce after seeing this photoMisterStorybonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost Funmaternityweek.comWilliam and Kate Have Been Told Their Fate Once Charles Finally Becomes Kingmaternityweek.com We (rightly) point out that the most important thing is economic growth – the key driving force behind increasing prosperity for everyone. The left sees wealth taxes and forced sales of property as the answer. In fact, we should be looking to the market for solutions: scrap many of the unnecessary planning regulations, and abolish stamp duty.  Main image credit: Getty LONDON, ENGLAND – OCTOBER 25: Campaigners taking part in the ‘Occupy London Stock Exchange’ protest, create an encampment in Finsbury Square on October 25, 2011 in London, England. A protest encampment in Finsbury Square been formed in addition to an ‘Occupy London Stock Exchange’ protest adjacent to St Paul’s Cathedral. (Photo by Oli Scarff/Getty Images) Inequality is a hot topic, yet those of us who support free markets are often dismissive of the issue. For example, a person’s life chances in the UK are still largely determined by where they grew up and the type of school they went to. A low quality education increases the likelihood of poor children remaining trapped in poverty and not realising their full potential. Opinion What is more, ignoring the issue suggests that free-market capitalism does not have solutions to inequality. As a result, the narrative is shaped by those on the left who call for higher taxes and more government intervention. The stakes are too high to leave the inequality debate to the left. Free-market capitalism has the answers. Now we just need to share them. These are just two examples of many. We could slash regressive taxes which hit the poorest the hardest; or reduce occupational licencing which creates hefty time and financial barriers for many jobs; or focus on reforming childcare regulations, which are so onerous (especially regarding staff-to-child ratios that are stricter than most other developed countries) that they make it too expensive for many parents to afford, preventing them from returning to work.  The left-wing solution is to close down private schools, thereby dragging everyone down to the same education level. The free market has a more effective answer: education vouchers, as suggested by Milton Friedman himself.  City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. whatsapp Ben RamanauskasBen Ramanauskas is a research economist at Oxford University. Friday 13 September 2019 4:08 am However, free-marketeers are wrong to see concerns over inequality as the preserve of those on the left. Socialism is a failed idea, and Karl Marx’s theories for how to run an economy have been proven to be disastrously wrong, with over 100 million dead. And yet, support for his ideology persists. Meanwhile, wealthy people have got even richer as the value of their property has increased. This has fomented feelings of anger and resentment, not just from the less well-off towards the wealthy, but also from the young towards older people who are more likely to own.  Don’t let the socialists win the argument – capitalists have solutions to inequality too whatsapp Given that concerns over inequality drive people to socialism, the right needs to take it seriously too. Then there is housing. The restrictive planning system in the UK has led to sky-high prices in and around urban areas. As a result, the vast majority of young people cannot afford to own their own home, with millions struggling to pay their rent.  Giving parents more choice over their children’s education has successfully increased standards across the board and helped to reduce inequality in countries that have tried it, such as one of the socialists’ favourite nations, Sweden.  But in reality, the free market offers a host of solutions. Share This will lead to more houses being built and sold, lowering prices and bringing down inequality. More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comlast_img read more

JPD: Suspect sought in Petco robbery

first_imgCrime & Courts | JuneauJPD: Suspect sought in Petco robberyJune 27, 2017 by Jeremy Hsieh, KTOO Share:The Juneau Police Department says Petco was robbed this afternoon and is seeking help finding the suspect.The robbery was at 3:22 p.m. The police posted security video of the suspect on its Facebook page Tuesday afternoon and described him as white, 25 to 30 years old, 6-foot-3 and skinny with scruffy facial hair.Police warned he may be armed with a handgun and discouraged approaching him.Call the police at 586-0600 with tips.Share this story:last_img read more

Anchorage bar, restaurant closure throws thousands of workers into limbo

first_imgBusiness | Coronavirus | Economy | Food | Local Government | SouthcentralAnchorage bar, restaurant closure throws thousands of workers into limboMarch 18, 2020 by Nat Herz, Alaska Public Media Share:Rita Aleck, 35, served cocktails at McGinley’s Pub in downtown Anchorage. Along with the city’s other bars and restaurants, McGinley’s has been closed to in-person service by Anchorage Mayor Ethan Berkowitz. (Photo by Nat Herz/Alaska Public Media)Thousands of Anchorage residents who had jobs on Monday woke up without them Tuesday morning.That’s after Mayor Ethan Berkowitz, seeking to contain the spread of the coronavirus, ordered bars and restaurants to close to sit-down service. Now, business owners and workers are trying to figure out what’s next, after seeing their incomes cut off indefinitely with less than a day’s notice.“Decisions were made politically that they had their reasons for. But for us, it was a complete blindside,” said Jack Lewis, who co-owns and runs seven different Anchorage area restaurants. “Nobody really was prepared for it, or saw it coming.”On Tuesday, Lewis said he was stuck with some $50,000 in perishable food, some of which was delivered Monday morning.He hopes to sell as much as possible in takeout and delivery orders. But he and others in the service industry, including employees, say they’re still waiting to see what kind of assistance will be available to them.Berkowitz’s closure order runs for two weeks, but it’s far from certain that people will be able to return to work at that point.Gov. Mike Dunleavy also expanded to closure late Tuesday to cover restaurants and bars statewide.“I’m like, ‘OL, what can I sell?’” said Rita Aleck, a cocktail server who, until Monday, worked at one of Lewis’ businesses, McGinley’s Pub in downtown Anchorage. “I’m going to do the best I can to take care of myself. But I think the biggest thing is all the question marks in all the different directions. … It’s hard to know how to feel when you don’t know what’s going to come next.”In the space of a single day, nearly an entire workforce in Anchorage found itself in a similar predicament to Aleck. What’s known as the “eating and drinking” sector is responsible for yearly payroll of about $250 million and some 11,500 jobs in Anchorage, or about 8% of the total, according to Neal Fried, an economist with the Alaska Department of Labor and Workforce Development.The bar and restaurant closure is also the latest coronavirus-related blow to a state economy already reeling from low oil prices and an expected big hit to Alaska’s tourism industry.The big question around the closure is its timeline, Fried said.“If it’s two weeks, obviously the impact would probably be pretty small,” he said. “Most people believe it might be longer than that. But it’s just the uncertainty, I think, that creates the greatest difficulty. We just don’t know how long this could last.”Restaurant owners said the uncertainty is one of their biggest concerns, too.Lewis — whose businesses include BurgerFi, Krispy Kreme and Firetap Alehouse — said he hopes to get some relief, whether it’s on his existing, government-backed small business loans or his utility bills, or from his bank. What he really wants to know from policymakers soon is what that relief will look like, so he can work out his own plans.“Tell us what you’re going to do quickly. Make a decision. How do you ease the pain? Because you can carry us a little bit,” he said.The number of jobs that vaporized Monday from Lewis’ businesses alone are stark. On Tuesday, he normally would have had 140 workers on the job, but instead, he had about 35 handling takeout.Another business owner, Matt Tomter, said he had 12 workers between two of his Matanuska Brewing Co. pubs, down from nearly 150 across several locations before the closures.Laid-off workers can seek unemployment benefits from the state, which is urging people to file online.But the program is capped at about $1,500 a month — less than half of what many veteran service staff earn. And because many bar and restaurant workers don’t report all their cash tips, a big chunk of their income may not factor into their benefits.To help workers affected by the coronavirus, Dunleavy’s administration is coordinating with Alaska’s congressional delegation and state lawmakers to try to create tax credits for sick and family leave, and to loosen some of the strict qualifying standards for unemployment, said Cathy Muñoz, deputy commissioner at the Department of Labor and Workforce Development. Congress is eyeing a stimulus package that could include direct cash relief payments of $1,000 or more to each American.“This is an all-hands-on-deck effort,” Muñoz said. “We are going to get through this, and we are pulling together and getting all of the resources together to help the employer community and help the employees that are directly impacted.”Carolyn Hall, a spokesperson for Berkowitz, said in a statement that the mayor was also in touch with state and federal leaders to encourage “swift action” in response to the economic havoc caused by the coronavirus pandemic.She also pointed to announcements that city electric and water utilities had suspended shutoffs, the suspension of eviction proceedings by Anchorage courts and an “Economic Resiliency Task Force” that Berkowitz created.Aleck said she’ll be okay if Berkowitz’s order doesn’t extend past its two-week time frame. Beyond that, though, she said she’s uncertain — she’s got rent and credit card payments to make.With two decades of service experience, Aleck said she normally would have no trouble finding another job. But what if her chosen industry doesn’t exist for months?“My resume looks great to anyone in any restaurant, bar,” she said. “But the rest of the world is like: ‘What can we do with you?’”Aleck did not object to the decision to close down restaurants and bars. She said she just wants elected officials to make sure they follow through and take care of the people affected.And right now, based on the level of fear and anxiety she sees at grocery stores and on city streets, she said she’s not sure that’s happening yet.“There’s a bunch of people out here who really need to know that things are going to be handled — that we’re not going to be shut out, that we are going to be considered,” she said. “That now that they made a decision to go ahead and cut us off from each other, that they are going to help get through that decision by backing up their plan and making it work for all of us.” As COVID-19 scare looms, small businesses in Juneau brace for tough timesShare this story:last_img read more

OSC charges Tiffin Financial with unregistered trading

first_img Court orders probation for trading ban violation Share this article and your comments with peers on social media James Langton Facebook LinkedIn Twitter ASC sanctions violation of cease trade order Keywords Cease trade ordersCompanies Ontario Securities Commission center_img Related news The Ontario Securities Commission (OSC) has levelled quasi-criminal charges against a Toronto man, and his company, alleging that they traded in securities without registration or a prospectus. The OSC said Tuesday that Daniel Tiffin and Tiffin Financial Corp. (TFC) have been charged with one count of trading without registration, one count of trading in securities without a prospectus, and one count of trading in securities when they were prohibited from trading by an OSC cease trade order that was issued on December 22, 2009. Man charged with violating OSC order The allegations have not been proven, and the first court appearance in the case is scheduled for June 10 at the Ontario Court of Justice in Newmarket, Ont. In the meantime, they remain subject to a cease trade order prohibiting them from trading in securities. The OSC says that the charges come following an investigation by its Joint Serious Offences Team (JSOT), which is a partnership between the OSC, the RCMP Financial Crime program, and the OPP Anti Rackets Branch.last_img read more

TSX ends lower

first_img Keywords Marketwatch Share this article and your comments with peers on social media Related news S&P/TSX composite hits highest close since March on strength of financials sector Toronto stock market dips on weakness in the energy and financials sectors David Hodges center_img The currency’s move higher came in the wake of a report by Statistics Canada that the economy created 78,600 net new jobs in December and the unemployment rate fell to its lowest point in more than 40 years. On Bay Street, the S&P/TSX composite index was down 63.50 points to 16,349.44 after setting record closes in the last two trading sessions. “Today seems to be one of these days where the reflationary, more pro-cyclical sectors are sort of taking a pause after a strong run into the end of the year and the start of the year — namely energy and materials,” said Patrick Blais, a managing director and senior portfolio manager at Manulife Investments. South of the border it was another record finish on Wall Street, as technology companies rose sharply. The Dow Jones industrial average climbed 220.74 points to 25,295.87. The S&P 500 index added 19.16 points to 2,743.15 and the Nasdaq composite index advanced 58.65 points to 7,136.56. U.S. stocks rose for the fourth day in a row Friday to start 2018 with their longest new-year winning streak in eight years. Less promising, however, were U.S. Labor Department figures which showed that American employers added 148,000 jobs in December — a solid gain but a bit less than experts expected. On the Canadian corporate front, shares of Telus Corp. were down 15¢, or 0.32%, to $47.13 at the close of markets. The communication services company is buying the western operations of AlarmForce Industries from Bell Canada. Telus will pay about $66.5 million to acquire about 39,000 customer accounts in British Columbia, Alberta and Saskatchewan — representing nearly 40 per cent of the total AlarmForce customer base in Canada. In commodities news, the February crude contract was down US57¢ to US$61.44 per barrel and the February natural gas contract fell US9¢ to US$2.80 per mmBTU. The February gold contract gained US70¢ at US$1,322.30 an ounce and the March copper contract was down US3¢ to US$3.23 a pound. With a file from The Associated Press The Canadian dollar surged to its highest level in more than three months after the country’s jobless rate hit a four-decade low, as the main benchmark of the Toronto Stock Exchange fell. The loonie closed at an average trading value of US80.63¢, up 0.73 of a U.S. cent on Friday — its highest level since Sept. 26. TSX gets lift from financials, U.S. markets rise to highest since March Facebook LinkedIn Twitterlast_img read more

REINSW: unintended consequences of NSW Government’s Property Tax Reform

first_imgREINSW: unintended consequences of NSW Government’s Property Tax Reform With the dust settling on yesterday’s announcement that stamp duty would be phased out and replaced with another tax, the Real Estate Institute of NSW (REINSW) has shone a light on some of the unidentified – or unconsidered – impacts of the proposal.Not least that the announcement could adversely affect the market until an outcome of the proposed reform is known, said REINSW CEO Tim McKibbin.“It is clear that the way property is taxed is in need of reform, because the burden it places on home buyers is extreme. Stamp duty has always been a major culprit, but a switch to a ‘land’ or ‘property’ tax which doesn’t ever go away is hardly a more palatable option for many people already finding it hard to afford a property,” Mr McKibbin said.“Trading one punitive property tax for another is not tax reform as suggested. The REINSW fully supports a meaningful dialogue in relation to tax reform but yesterday’s announcement that stamp duty is to be replaced by land tax at some point in the future does not represent consultation.“The community has not been given any details upon which to make decisions for the largest investment most of us will ever make,” he said.There have been many solutions put forward in the past to combat the adverse impact of stamp duty. One solution advocated for purchasers to have the opportunity to pay stamp duty over time, rather than in full at the time of acquisition. Under this proposal, Government still collects stamp duty revenue while purchasers avoid the ongoing burden of a land tax.“While removing a tax is always welcomed, can the community be confident that once land tax is established and part of our accepted taxation environment, that Government will not reintroduce stamp duty?” Mr McKibbin said.“Industry pleas for a reduction in stamp duty in the past have been met with determined resistance from Government, which has always maintained that reducing stamp duty will simply push house prices up, because purchasers will have additional money.“Hypothetically, if Government’s assumption is correct, the impact on prices will be interesting to monitor, because house prices are determined not by vendors but by purchasers in competition. These purchasers will have finance available, which otherwise would have been put towards stamp duty, but which instead can be used to compete on acquisition price. So, if the hypothesis is correct, the purchaser will not save any money, but will be burdened with land tax for life.“There are other concerns with the proposal which could skew Government’s intentions for reform, which we understand to be about improving housing affordability for people while maintaining Government’s revenue stream from property.“Housing affordability is not magically improved by the exchange of one property tax for another. As it stands, around 40% of the cost the consumer pays for new property is taxes and charges levied by all three levels of Government.“Affordability is all about supply. Instead of switching between property taxes, Government has the opportunity to focus on the impediments to supply if genuine improvements in affordability are to be unlocked,” Mr McKibbin said.Mr McKibbin said there’s a very real risk that people who had been actively looking to buy property may put those plans on hold until they get clarification of the specific details of what the reform will look like in reality.“Optimistically, this won’t occur until mid-next year at the earliest. Until then, we run the risk of buyers maintaining a wait-and-see approach,” Mr McKibbin said.“In the past 24 hours, REINSW members have cited numerous examples of purchasers who, as a result of the announcement, now plan to abandon their search for a property in the immediate term.“Real estate has experienced a delicately poised rebound in recent times. The importance of this in an economic sense can’t be understated. Measures that put the brakes on transactional activity could have a devastating impact on the economy, given the disproportionate contribution property consumers make to the state’s finances.“On the other side of the transaction are people who already own their home who, on the basis of this announcement, may simply decide to stay where they are and avoid a different new tax altogether.“The industry remains steadfastly against stamp duty but is the option of a land tax really the lesser of two evils? At least with stamp duty you pay it once, albeit a large amount. Land tax is an ongoing burden.“True reform would result in people not incurring a tax burden for the simple necessity of maintaining a roof over their heads,” McKibbin said. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:acquisition, affordability, community, dialogue, environment, Government, home buyer, housing affordability, industry, Investment, land tax, NSW, property, real estate, Real Estate Institute of New South Wales, REINSW, stamp dutylast_img read more

All-electric Subaru crossover reportedly due out in five years

first_img We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. 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 Created with Raphaël 2.1.2Created with Raphaël 2.1.2 Subaru’s Viziv Future concept might provide a hint or two regarding the automaker’s upcoming all-electric crossover. ‹ Previous Next › See More Videos The Rolls-Royce Boat Tail may be the most expensive new car ever Trending in Canada RELATED TAGSSubaruNewsAutomobile ManufacturingAutomotive ReviewsCars and Car DesignConsumer CyclicalsConsumer Products and ServicesCulture and LifestyleIndustriesManufacturing SectorMasato SaitoMotor Vehicle ManufacturingNorth AmericaSubaru CorporationSubaru ForesterSubaru Outbackcenter_img advertisement The new platform, known as the Subaru Global Platform, will accomodate pretty much anything the automaker throws at it; from gasoline to all-electric powertrains, this platform eventually underpin pretty much every Subaru across the board. COMMENTSSHARE YOUR THOUGHTS Trending Videos By 2021, Subaru plans to give North America an all-electric, all-wheel-drive crossover.The word comes from Japanese newspaper Nikkan Kogyo Shimbun – hat tip to Automotive News – which suggests a source within Subaru claims the automaker is looking to release a midsize electric crossover based on the next-generation Forester or Outback.That means this new crossover will almost assuredly be based on Subaru’s new modular platform. That’s about it as far as the hard details are concerned – Subaru has remained tight-lipped on the rest of the car; company spokesman Masato Saito told Auto News that Subaru has “yet to decide on any specifics.” 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”last_img read more

Transasia Mumbai facility receives Diamond rating in ZED Quality Certification

first_img Heartfulness group of organisations launches ‘Healthcare by Heartfulness’ COVID care app Related Posts Read Article Menopause to become the next game-changer in global femtech solutions industry by 2025 The plant was assessed on 30 parameters including manufacturing infrastructure, lean concepts, 5S, kaizen, daily management practices, manufacturing process and FMEA, impact of manufacturing on environmentTransasia Bio-Medicals recently announced that it has received the Diamond rating in ZED Quality Certification from the Ministry of MSME, Government of India and the Quality Council of India for its manufacturing facility at Mumbai (Seepz). The plant was assessed on 30 stringent parameters including manufacturing infrastructure, lean concepts, 5S, kaizen, daily management practices, manufacturing process and FMEA, impact of manufacturing on the environment. The entire assessment process is very elaborate and lasted a year.The ZED Quality Certification is an initiative by the Government to encourage ‘Make in India’ and export of Indian products, through manufacturing practices, aligned towards providing products aimed at zero defect (for customers) and zero effect (on the environment). First announced by Prime Minister, Narendra Modi in 2014, the initiative is meant to raise quality levels in the MSME sector and is seen as the cornerstone of the Make in India programme.So far, 266 companies have been awarded in 23 manufacturing sectors. The extensive assessment process comprises self, desktop and site assessment and evaluates the companies on a total of 50 varied parameters. At the end of the assessment and evaluation, the final rating is provided to MSMEs based on the maturity assessment model (Bronze-Silver-Gold-Diamond-Platinum).Speaking on the achievement, Suresh Vazirani, Chairman and Managing Director said, “Transasia has been manufacturing in India from the early 1990s, much before the Make in India concept actually came into existence. Over the last forty years, our mission has always been to provide high quality diagnostic solutions that are reliable and environmentally sustainable. The quality of our products and solutions is recognised not only in India but in over 100 countries globally. As India’s no 1 IVD Company, this recognition is an affirmation of the high quality of all our products.”“While we celebrate the fact that we are the first and only IVD Company in India to win this recognition, more importantly this milestone is a testimony that we employ GMP, kaizen, lean and other innovative processes to develop technologically advanced products that are also environmentally sustainable,” he further added. Transasia Mumbai facility receives Diamond rating in ZED Quality Certification Share WHO tri-regional policy dialogue seeks solutions to challenges facing international mobility of health professionals News Indraprastha Apollo Hospitals releases first “Comprehensive Textbook of COVID-19” By EH News Bureau on September 26, 2019 Phoenix Business Consulting invests in telehealth platform Healpha MaxiVision Eye Hospitals launches “Mucormycosis Early Detection Centre” Add Comment Diamond rating in ZED Quality CertificationGovernment of IndiaIVDMake in India programmeMinistry of MSMEQuality Council of IndiaTransasia Bio-Medicals Comments (0) The missing informal workers in India’s vaccine storylast_img read more