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#1 29-08-2018 02:19:16

Date d'inscription: 16-07-2018
Messages: 64

killed in mudslides in Sierra Leone

NAIROBI Cheap Jack Johnson Hat , April 18 (Xinhua) -- The Kenya shilling weakenedslightly against the U.S. dollar on Tuesday following increaseddollar demand from importers.

The local currency traded against the dollar at 103.4, data fromthe Central Bank of Kenya (CBK) showed Tuesday, down from 103.3 atthe close of last week ahead of Easter holiday.

Commercial banks, however, quoted the shilling at 103.45 astraders blamed the fall to increased dollar demand from oilimporters.

The shilling was under pressure last week forcing the apex bankto sell some dollars to strengthen it. Central Bank data indicatedthat the regulator used some 50 million dollars last week asforeign exchange reserves dropped from 8.02 billion dollars or 5.3months of import cover to 7.9 billion dollars or 5.2 months ofimport cover.

Analysts at Cytonn, a Nairobi-based investment firm, noted thatin the short-term, the shilling is being affected by retailimporters' demands and a rise in global oil prices.

However, in the long-term, the shilling would continue to comeunder pressure due to the global strengthening of the dollar aheadof a planned rate hikes in the course of the year.

Last Thursday, the shilling ended the week flat at 103.3 but ona year-to-date basis, the shilling has depreciated against thedollar by 0.9 percent. Enditem

HANGZHOU, Aug. 22 (Xinhua) -- The second mate of a Maltese cargo ship, Allan Mendoza Tablate, was sentenced to three and a half years in prison Monday in eastern China's Zhejiang Province for an accident, which left 14 dead and five unaccounted for.

The verdict was handed down by the Ningbo maritime court, and is believed to be the first criminal case ever tried in a maritime court in China.

Trial of Tablate opened in early July. The court heard that Tablate was at the helm of cargo ship Catalina in the early hours of May 7, 2016 en route from Lianyungang, Jiangsu Province to Indonesia. In spite of low visibility and difficult conditions in the East China Sea, he was found to not have kept a proper lookout, maintained a safe speed or taken effective measures to avoid other ships in the fog.

The court believed that Tablate's negligence led to the collision with Chinese fishing boat Lurongyu 58398, resulting in 14 deaths, with five others missing.

Direct losses from the accident totaled 5 million yuan (about 750,000 U.S. dollars).

Tablate gave himself up to maritime police in Zhejiang on Sept. 22 last year. The court decided to give him a lighter punishment given his voluntary confession and proactive compensation to the families of the victims.

In February China's supreme court allowed Ningbo maritime court to try maritime criminal cases. In the past, local maritime courts only heard civil cases.

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BEIJING, Aug. 28 (Xinhua) -- China's State Council has approveda merger between China's major power generator China GuodianCorporation and coal producer Shenhua Group, an official statementsaid Monday.

The two companies will be restructured to form a new energyinvestment company, the State-owned Assets Supervision andAdministration Commission (SASAC) said on its website.

The move came with little surprise, as the listed arms of thefirms had suspended trading of their stocks on the Shanghai StockExchange since early June, a move widely considered to signal amerger.

Following the announcement Monday, the listed arm of ShenhuaGroup on the Hong Kong Stock Exchange surged more than 4 percentbefore falling back slightly.

As the world's largest coal supplier, Shenhua Group had totalassets of over a trillion yuan (150.7 billion U.S. dollars) by theend of April this year. It ranked 276th among the global Fortune500 in 2017.

In the first half of 2017, China Shenhua Energy Company, thelisted arm of the group, reported revenue of 120.5 billion yuan, anincrease of 53.1 percent year on year.

With total assets of more than 800 billion yuan, China GuodianCorporation is one of the country's largest power generators withinstalled capacity of over 143 GW. It ranked 397th among the globalFortune 500 in 2017.

The merger between the two power giants was in line with thecountry's aim to cut overcapacity in the coal and power sectorsthrough restructuring state-owned enterprises (SOEs), analystssaid.

SASAC has been actively restructuring SOEs this year in a bid toimprove their efficiency, with the number of central SOEs fallingto 98 after Monday's announced merger, down sharply from 196 in2003. Enditem

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