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FEU sets record for most 3s with 18, but 42 attempts ‘way too much’

first_imgJapan ex-PM Nakasone who boosted ties with US dies at 101 LATEST STORIES QC cops nab robbery gang leader, cohort View comments Read Next Blue Eagles fend off Maroons, close in on UAAP elims sweep Kammuri turning to super typhoon less likely but possible — Pagasa “We relied too much on our offense,” Racela told reporters after FEU’s 87-84 loss. “In the fourth quarter, we didn’t really have to score, we just had to make stops.”READ: NU keeps Final 4 bid alive, pulls rug from under FEUFEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutThe Tamaraws eclipsed the previous record set by the University of the Philippines Fighting Maroons earlier in the season when they hit 16 triples in a stunning win over the De La Salle Green Archers two months ago.But what stood out for Racela was FEU attempting 42 threes. For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. “We fell in love with the 3-point shot, 42 attempts is way too much, way too many,” he said. “I told them at the half, the defense will win it for us but it didn’t happen that way in the second half.”FEU wasted a golden opportunity to close in on a Final Four berth and instead will have to take the longer trip to the big dance.READ: FEU ‘lost discipline’ in 4th in loss to Ateneo, says Racela “We were up and we let it slip away and now we made it harder for ourselves we have to win our game against Adamson on Saturday,” Racela said.“It’s getting slimmer but we still have a chance. We just have to win on Saturday with a little help from Ateneo. But there’s nothing we could do but to focus on Saturday. I know this is a devastating loss, but we cannot be too low.”ADVERTISEMENT MOST READ Brace for potentially devastating typhoon approaching PH – NDRRMC Stronger peso trims PH debt value to P7.9 trillion CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Archers, Eagles favorites to win UAAP Season 80 PLAY LIST 02:36Archers, Eagles favorites to win UAAP Season 8002:49La Salle, FEU put ugly offseason brawl behind: ‘Let’s forget what happened’00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Photo by Tristan Tamayo/INQUIRER.netOvershadowed in Far Eastern University’s loss to National University on Wednesday was that the Tamaraws set the UAAP record for most 3-pointers made in a game with 18.Ironically, FEU head coach Olsen Racela thought his team’s record-setting performance also caused its downfall.ADVERTISEMENT Don’t miss out on the latest news and information. John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding Typhoon Kammuri accelerates, gains strength en route to PHlast_img read more

SL and Pak boards begin probe after expose

first_imgSri Lanka Cricket (SLC) and Pakistan Cricket Board (PCB) on Tuesday began investigations into the television sting operation which alleged that the umpires were willing to fix T20 matches. The channel showed video clips purportedly taken by their undercover reporters, in which the umpires were shown to be allegedly willing to give certain decisions in exchange for money. A SLC official said that they are studying the tapes of the sting operation. SLC chief executive Ajith Jayasekara said there has been no official communication from the International Cricket Council on allegations that Sri Lankans were among six international umpires willing to fix matches. He said the local anticorruption unit will work with the ICC in the investigations. The six umpires, who are purportedly shown in the TV sting willing to fix matches , were Nadeem Ghauri and Anees Siddiqui of Pakistan, Nadir Shah of Bangladesh, and Gamini Dissanayake, Maurice Winston and Sagara Gallage of Sri Lanka. PCB also said it has launched investigations into the matter. “We are in contact with ICC and carrying out a detailed investigation into the matter. We have sought the details involved in the matter. For us it is just a TV report and it is too early to say anything,” a PCB spokesman was quoted as saying by ESPNCricinfo. “The PCB maintains that we have a zero-tolerance policy towards any kind of corruption in cricket at any level.” The Board of Control for Cricket in India (BCCI), on its part, said since no Indian umpire was involved, it would wait for the ICC to complete its investigations. “The ICC has to take a call on it. They (ICC) will be taking appropriate action. As far as we are concerned we will take action as we deem fit,” senior BCCI official Rajeev Shukla said. “Our job is to keep the game clean. The BCCI takes strong and immediate action whenever such cases come up.” Ghauri said in Lahore that he was innocent. “I was approached by some TV channel from India who asked me to do an interview through Skype. They did ask me about the fixing stuff but I had nothing to say on the topic,” Ghauri told reporters. “They asked me to come to India and be part of their TV shows but I said I would come only if they sponsored my visit, but we didn’t reach any agreement.” Dissanayake, meanwhile, outrightly rejected the accusation.”I reject all allegations. This is an attack on the entire Sri Lankan umpiring fraternity by an external force,” he told reporters in Colombo. He said that he had already written to local cricket authorities and is open to thorough investigation in order to prove his innocence. Soon after the sting operation was beamed on Monday night, the ICC said it would investigate the matter and asked the channel to give any information which can assist in the probe. “The ICC and its relevant members have been made aware of the allegations made by India TV this evening and calls on the station to turn over any information which can assist the ICC’s urgent investigations into this matter,” the world body had said.advertisementlast_img read more

JTB Endorses Ocho Rios Seafood Festival

first_imgStory Highlights The Jamaica Tourist Board (JTB) has endorsed the 12th annual Ocho Rios Seafood Festival, signing on as a major sponsor of the event to be held on August 5.A Senior Advisor for the activity, Roderick Bailey, told JIS News that having the JTB on board can best be described as “the icing on the cake, and a guarantee that this year’s event will be the biggest we have had so far”.Speaking at a recent Jamaica Information Service (JIS) ‘Think Tank’ at Fisherman’s Beach, Ocho Rios, Mr. Bailey also revealed that the event will be headlined by the trio of reggae and dancehall icons, Bounty Killer, Agent Sasco and Tifa.“The Ocho Rios Seafood Festival is arguably one of the biggest culinary shows in Jamaica. Having the JTB on board is not only a major boost, but can be viewed in the context that we are ready to take this event to another level,” he said.He argued that not only has the event gone “from strength to strength”, but also that the festival has shown enough to make it comparable to any of the other summer events.“In 2007, the first year of the festival, over 15,000 persons were in attendance, while in 2008, in spite of heavy rains, we managed to draw a crowd of over 10,000. We have been increasing the attendance tally steadily over the years, and there is every reason to believe that this might be our biggest year yet,” Mr. Bailey said.He noted that tourism stakeholders, as well as the business community in Ocho Rios, have thrown their weight behind the event.“There was a time when Ocho Rios was devoid of quality entertainment. Fortunately, those days are long gone as the Ocho Rios Seafood Festival with its family-oriented theme has changed all of that. The town and by extension the entire St. Ann is ready for what we feel will be the blockbuster event of the summer,” Mr. Bailey said.The  event will be held at the Turtle River Park in Ocho Rios. Gates will open at 10:00 a.m. and admission is $1,500 for adults and $500 for children. Presold tickets, $1,000 for adults and $300 for children, will be available in Ocho Rios at Great House Pharmacy, Total Gas Station and New Ocho Rios Pharmacy.Children  under 12  can ride free all day on the attractions that will be provided. The Jamaica Tourist Board (JTB) has endorsed the 12th annual Ocho Rios Seafood Festival, signing on as a major sponsor of the event, to be held on August 5. “The Ocho Rios Seafood Festival is arguably one of the biggest culinary shows in Jamaica. Having the JTB on board is not only a major boost, but can be viewed in the context that we are ready to take this event to another level,” he said. The  event will be held at the Turtle River Park in Ocho Rios. Gates will open at 10:00 a.m. and admission is $1,500 for adults and $500 for children. Presold tickets, $1,000 for adults and $300 for children, will be available in Ocho Rios at Great House Pharmacy, Total Gas Station and New Ocho Rios Pharmacy.last_img read more

A look at the process Canada follows in response to an extradition

first_imgOTTAWA — Canada’s Department of Justice, through its International Assistance Group, helps Canadian and foreign police and prosecutors by extraditing people to face prosecution or sentencing in the country in which they are charged or convicted.The Extradition Act provides Ottawa with the legal basis to extradite people located in Canada who are sought by an extradition partner. Those partners include:— Countries, such as the United States, with which Canada has an extradition agreement (a bilateral treaty or a multilateral convention);— Countries with which Canada has entered into a case-specific agreement; or— Countries or international courts whose names appear in the schedule to the Extradition Act.In all cases, the conduct for which extradition is sought must be considered criminal in both the requesting country and in Canada.There are three key stages to the Canadian extradition process:— The justice minister must first determine whether to authorize the start of extradition proceedings in the Canadian courts by issuing what’s known as an “Authority to Proceed.”— Once an Authority to Proceed has been issued, the Canadian courts must determine whether there is sufficient evidence to justify the person’s committal for extradition. When someone is committed for extradition, the justice minister must personally decide whether to order the person’s surrender to the foreign state.— Someone sought for extradition may appeal their committal and seek judicial review of the minister’s surrender order — a process that can play out for months or even years in the courts.(Source: Canadian Department of Justice)The Canadian Presslast_img read more

January home sales in Greater Toronto Area down 22 per cent from

first_imgTORONTO – The number of homes sold in the Toronto region in January was down 22 per cent compared with a year ago, when the area was experiencing a short-term spike in prices that prompted the Ontario government to cool the market last spring.The Toronto Real Estate Board says Greater Toronto Area realtors reported 4,019 home sales for January through the Multiple Listings Service, compared with a record 5,155 sold a year ago.Last month’s average selling price was also down, falling by 4.1 per cent to $736,783 from $768,351 a year ago.“It is not surprising that home prices in some market segments were flat to down in January compared to last year. At this time last year, we were in the midst of a housing price spike driven by exceptionally low inventory in the marketplace,” said Jason Mercer, TREB’s director of market analysis.On a month-to-month basis, the number of GTA home sales was down 18 per cent from 4,904 in December but the average price improved somewhat from $735,088 in December — which was the second-lowest month in 2017.The number of new listings last month increased to 8,585, up 17.4 per cent from January 2017 but still the second-lowest in a decade for the month of January.The real estate board said Tuesday that it expects several measures taken at the provincial and federal level will have a smaller impact on the market as the year progresses.The Ontario government introduced a set of measures in April of last year aimed at cooling the market. Separately, the Office of the Superintendent of Financial Institutions introduced a new financial stress test for buyers that federally regulated lenders must apply as of Jan. 1.The real estate board’s 2018 outlook, released Jan. 30, anticipates the pace of sales will pick up in coming months — a message that was repeated Tuesday with the January report.“It is likely that market conditions will support a return to positive price growth for many home types in the second half of 2018,” Mercer said.“The condominium apartment segment will be the driver of this price growth.”In January, the number of condos sold in the region were down 21.9 per cent from last year but the average price for this housing category was up 14.6 per cent to $507,492.Meanwhile, sales volume and prices for townhouses, semi-detached and fully detached houses were all down.The biggest decline was in the average price of fully detached houses in the surrounding 905 area code, where the average price dropped by 12.0 per cent to $879,048. In the 416 area code, the average fell 3.9 per cent to $1,283,981.last_img read more

MEG Energy reports 48 million loss despite 56 bitumen price increase

first_imgRevenue came in at $919 million, compared with $721 million in the year-earlier quarter, beating analyst expectations of $651 million.MEG’s loss included a net foreign exchange gain of $78 million and a loss on hedging contracts of $230 million.Its net earnings in the first quarter of 2018 included a $318-million gain on the sale of its half interest in the Access Pipeline, a net foreign exchange loss of $108 million, and a loss on hedging of $76 million.MEG bitumen production was 87,100 barrels per day in the first quarter, down from 93,200 bpd a year earlier (and its capacity of 100,000 bpd) due to the Alberta government’s production curtailment program that began Jan. 1, the company said.However, it said sales averaged 89,800 bpd as it shipped stored barrels to take advantage of higher prices. CALGARY, A.B. – Oilsands producer MEG Energy Corp. is reporting a larger-than-expected first-quarter net loss despite a rise in revenue as its average price for blended bitumen rose by 56 per cent compared with the fourth quarter of 2018.The Calgary-based company says it lost $48 million or 16 cents per share in the three months ended March 31, compared with a profit of $141 million or 47 cents in the same period a year ago.Analysts had expected a loss of 13 cents per share, according to Thomson Reuters Eikon.last_img read more

Baseball player pipeline runs from Arizona to Buckeye State

Ohio’s erratic, day-to-day weather conditions are nothing like the sunny, cactus-filled deserts of Arizona. The two states are separated by almost 2,000 miles and the Rocky Mountains, so it’s no shock the climates are quite different. However, when five Arizona natives willingly leave the year-round warm weather to play baseball in the often-unpredictable climate of Columbus, it’s surprising. Ohio State sophomore Jaron Long and juniors Greg Solomon, Tyler Giannonatti, Brian King and Kirby Pellant all left “The Grand Canyon State” to play baseball two time zones away for the Buckeyes and coach Greg Beals. “I just came because I wanted to get out of Arizona,” Solomon said. “I wanted to come to a D-I university that had a good program.” Solomon, a catcher, was the first of the five to make the decision to come to Columbus when he left Paradise Valley Community College in Phoenix after the 2010 season. As a junior college transfer, he said he wanted to go somewhere where he knew he could play and at least have the opportunity to start. He said he felt OSU was a good fit because then-starting OSU catcher Dan Burkhart was leaving for the pros and Beals was taking over for retiring OSU coach Bob Todd. Solomon started 46 games last season for the Buckeyes and has started 24 of OSU’s 35 games this season. The other four “Arizona Buckeyes” transferred just a year later from junior colleges as well. Pitchers Long, Giannonatti and infielder Pellant, all transferred from Chandler Gilbert Community College in Chandler, Ariz., while King came from Paradise Valley like Solomon. “I feel like I should get some sort of finders fee for these guys,” Solomon said with a grin. “I mentioned (King) to the coaches last year and I don’t know if they had already thought about going out there, but I feel like I was the instigator of these guys.” King, a pitcher for the Buckeyes starting eight games this season with a 5.08 ERA and 3-3 record, acknowledged it was easier making the decision to come to OSU knowing his junior college battery-mate was already there. The same can be said of Giannonatti and Pellant, who not only went to the same junior college, but also won the 2009 Arizona Class 5A state championship together at Corona del Sol High School in Chandler. “(OSU) came out and they offered me and they offered (Giannonatti), and it was like, ‘If he’s going, I’m going,”” Pellant said. Beals said it definitely helps the recruiting process when players are recruited in pairs. “They’re coming a long way from home, it’s nice to have a little bit of a comfort zone there,” Beals said. “It helps that they know they’ve got a buddy here or they’ve got another buddy coming with them.” Long, a three-game winner with a 2.31 ERA, was the last of the five to sign with the Buckeyes. He said knowing that Pellant and Giannonatti were already committed to OSU made his decision easier, and he is glad they were here when he arrived. “When you come to a school this big and you don’t really know anyone, it’s intimidating,” the Buckeye pitcher said. “But you have these guys that you’ve been friends with, so until you find new people to hang out with, you’ve got somewhere you can go with people you already know.” When the two prominent baseball programs in Arizona don’t come calling, the state’s high school baseball players are not left with many options. “In Arizona, there’s two schools: Arizona and Arizona State,” Beals said. With eight national championships between them, The University of Arizona and Arizona State University have rich baseball histories and many of the state’s high school players dream of playing for the storied programs. But when they’re not offered the opportunity, they can feel slighted, like Pellant. “If you don’t go there or get offered there, you kind of have a hatred toward them,” OSU’s team leader in steals (19) said. “That’s what makes you want to leave Arizona to get somewhere else.” For many, the platform “to get somewhere else” is Arizona’s junior college baseball. “If you don’t go to one of those two schools, a lot of kids go to junior college,” Beals said. “It is such more of a prominent avenue for high school kids there than it is here in the Midwest.” “The JUCO baseball out there is good competition,” Pellant said. “Guys are getting drafted every year and it draws a lot of universities out there. OSU heard about it and went out there.” The five players said they are happy that OSU gave them the opportunity and said coming to Columbus was the right choice, aside from maybe the weather, they all said jokingly. They said at times, they can’t believe they’re playing for a school like OSU. “Ohio State comes out and recruits you and it’s kind of like, ‘Dang! OSU wants me,’” Giannonatti, who’s yet to appear in a game this season, said. “You see (OSU) on every channel every day, it’s a big school. It’s almost an honor to come here.” Solomon said being a Buckeye has made him notice things he didn’t before. “Whenever I go back to Arizona, I notice the ‘Block-O’ more than I did, before I saw it everyday,” Solomon said. “Knowing that there’s people all over rooting for you, I think is pretty cool, and I’m glad that I got to come here.” Pellant agreed and said it’s awesome knowing there are Buckeye Nation fans everywhere that love them. “They don’t know you, you don’t know them, but they support you every minute of the day,” Pellant said. “That’s special.” The “Arizona Buckeyes” have been a vital part of OSU’s team this season. Pellant and Solomon, the only everyday players of the five, have started a combined 59 games for the Buckeyes while Long and King are part of OSU’s improved starting rotation, each winning three games. read more

England coach suffers injury

first_imgEngland manager Gareth Southgate had his right shoulder dislocated while running on Wednesday.The squad had a scheduled day off from training and Southgate suffered the injury near England’s base in Repino. This is coming after Southgate celebrated acrobatically after Harry Kane sealed a 2-1 win over Tunisia in England’s opening World Cup game on Monday.“The doc has made it clear that punching the air is not an option,” said Southgate via BBC.“I might not be celebrating any goals as athletically in future,” he added.Jadon Sancho, Borussia DortmundCrouch: Liverpool could beat Man United to Jadon Sancho Andrew Smyth – September 14, 2019 Peter Crouch wouldn’t be surprised to see Jadon Sancho end up at Liverpool one day instead of his long-term pursuers Manchester United.Southgate, who is wearing a sling, was treated at a nearby hospital with the assistance of team doctor Rob Chakraverty.Southgate won the League Cup with both Aston Villa and Middlesbrough and captained Crystal Palace to win the First Division championship in 1993–94. He also played in the 2000 FA Cup Final for Villa and the 2006 UEFA Cup Final for Middlesbrough.Southgate made 57 appearances for the England national team between 1995 and 2004, featuring in the 1998 FIFA World Cup and both the 1996 and 2000 European Championships. His playing career ended in May 2006 at the age of 35, and after more than 500 league appearances.He served as manager of Middlesbrough from June 2006 until October 2009, then managed the England U21 team from 2013 to 2016, before becoming the England national team manager in 2016.last_img read more

Ban On Distilleries Serving Cocktails Approved By Board

first_imgThe board received over 540 letters from residents during the open public comment period including Senator Peter Micciche (R-K-Pen) that in a letter along with other state legislators states: “I am writing to urge you to support Alaska’s 10 distilleries’ efforts to continue to produce value-added Alaskan products by serving drinks in their respective tasting rooms.”   The ABC Board approved the proposal at its meeting on January 24, the proposal defines “the distillerys product” as a distilled spirit made or distilled in the licensed facility, and also clarifies that a licensee may provide other non-alcoholic products (mixers and garnishes) but may not combine them with a distilled spirit. The two-drink limit at all distilleries will remain in effect. The new rule goes in effect 30 days after Lt. Governor Byron Mallot signs the new regulation. However, under the new proposal, licensed distilleries may provide mixers, and they may sell alcohol distilled on site, but it will be up to the customer to mix them into a single drink. Facebook0TwitterEmailPrintFriendly分享Last updated on January 25th, 2018 at 10:49 amThe Alaska Alcoholic Beverage Control Board approved a proposal that forbids distilleries from serving mixed drinks. The state of Alaska has 10 licensed distilleries, all of which have previously testified that mixed drinks served in approved tasting rooms are key parts of their individual business plans. Story as aired: Audio PlayerJennifer-on-ABS-distillary-ruling-1.mp3VmJennifer-on-ABS-distillary-ruling-1.mp300:00RPdlast_img read more

With Growth Comes Many Competitors

first_imgDigital magazine vendors will tell you that their growth has been phenomenal—anywhere from 25 to 50 percent a year for the last two to three years. That’s one good reason why the industry has gone from a handful of pioneers four or five years ago to an explosion of low-cost solutions.“There have to be 20 of what I call the ‘flash guys,’” says Cimarron Buser, VP, marketing and product planning for Texterity. “They get a flash program and write a piece of code that will work for a magazine, but the publishing industry needs a lot more than ‘whiz-bang’ technology.”It probably does look easy to produce a digital magazine—just take a PDF and give it a page flip—but a lot more goes on in the background, according to Nxtbook Media marketing director Marcus Grimm. The technology offered by the large vendors integrates with search engines, provides tracking data for the magazine, and is more feature-rich than the products that a lot of the smaller companies offer. Not so fast, say some of those that offer the simpler solution. While Olive Software, which has been in the business for seven years, is a full-service vendor with major publisher clients, vice president of marketing Nicole Miller points out that small publishers with low-circulation magazines or newsletters need a low-cost, easy way of producing something other than a PDF. “We’ve taken our platform and made it easy for a client to upload a PDF and receive a URL within minutes that links to an online digital document. It’s primarily just a flipper,” she says, “but they can then e-mail the link to their subscribers or post it on their Web site.” Proliferating Digital ProvidersIn the last few years, the number of digital-magazine suppliers has exploded. Some ofthe current players in the market, either with their own solutions or working with partners.Advanced Publishing • Bango • Blue Toad • Brown Printing • Cadmus/Cenveo • CDS • Creel Printing • Dirxion • DMG Inc. • E-Book Systems • iDigital Edition • Imirus • Just Systems • Lane Press • LinkPath • Magazooms/Alqemy • NewsStand • Nxtbook Media • Olive Software • Pressmart • ProofItOnline • Publishers Press • Qmags • Quebecor World • Sheridan Magazine Services • Texterity • Zendition • Ziniolast_img read more

Today only Save 300 on unlocked Galaxy Note 9 Expired

first_imgJuan Garzon / CNET Patience is not only a virtue, it’s a money-saver. The Samsung Galaxy Note 9 debuted last summer with a list price of $1,000 and has stayed pretty steady ever since. Good thing you decided to wait.Today only, from 3 p.m. to 9 p.m. PT (6 p.m. to midnight ET), Samsung is having a flash sale: $300 off the unlocked Note 9 when you apply promo code 300SAMSUNG at checkout.See it at SamsungThe Note 9 features a mammoth 6.4-inch screen, 128GB of storage and Samsung’s fairly awesome S-Pen.I’m not an Android guy, but of course my colleagues have you covered: For a deep dive into the phone’s pros and cons, look no further than CNET’s Galaxy Note 9 review. Phones 3:29 The Cheapskate News • Grab an unlocked Samsung Galaxy Note 9 for $719 Galaxy Note 9 looks stunning in these photos Sprint Review • Note 10 launch could still give Note 9 sales a jolt $799 CNET may get a commission from retail offers. Galaxy Note 9 is a superphone through and through See It Samsung $999 Tags See It See It This is another great reminder that phones with sky-high prices will eventually see discounts — often soon after launch. (The brand-new Galaxy S10 Plus saw a nice deal just yesterday.) I’ll bet your patience is feeling especially virtuous right about now.By the way, if you can ask your wrist to be patient as well, the Samsung Gear Fit2 Pro will be $75 off on Monday. Stay tuned for a separate post about that deal. $999 Mentioned Above Samsung Galaxy Note 9 (128GB, ocean blue) 72 Photos Best laptops for college students: We’ve got an affordable laptop for every student. Best live TV streaming services: Ditch your cable company but keep the live channels and DVR. Samsung Galaxy Note 9 See it Preview • Four days with the Galaxy Note 9: Here’s the good and bad so far Best Buy Now playing: Watch this: 8 Share your voice Verizon Wireless Comments CNET’s Cheapskate scours the web for great deals on PCs, phones, gadgets and much more. Note that CNET may get a share of revenue from the sale of the products featured on this page. Questions about the Cheapskate blog? Find the answers on our FAQ page. Find more great buys on the CNET Deals page and follow the Cheapskate on Facebook and Twitter! $799last_img read more

Android phones can be security keys now

first_img Mobile Security 2 Share your voice A physical security key on top of an Android phone. Josh Miller/CNET Security keys are an effective way to keep your accounts secure from hackers, but they suffer from a major challenge: They’re inconvenient.Not a lot of people want to buy and carry an extra key or Bluetooth fob just for logging in — which is why most two-factor authentication is done through text messages, even though it’s less secure. Up to 90% of Gmail users don’t even use 2FA, a Google software engineer revealed in 2018. Convenience is a big hurdle, and Google is hoping to solve that by making your phone the security key. It’ll have the same functionalities as a physical security key but won’t require you to carry an extra device to keep your accounts safe. That means that like a security key, your phone will warn you if an imposter website is trying to steal your password. Unlike using SMS or authenticator codes for logging in, security keys have to verify that the website you’re logging in on is legitimate. The updated security feature is coming only to Android devices versions 7 and up, which account for about 50% of all active users, according to Google’s distribution board. For now, it’s working only on Google’s Chrome browser and with Google accounts, but the company expects to expand availability. “This is a natural evolution of the standard. Just as some security keys only worked with Chrome initially and moved to other browsers, we’re seeing the same thing happening here,” said Christiaan Brand, a Google product manager for identity and security. You can set up the security key on your phone by going to your settings on Google and selecting 2-Step Verification. From there, you need to click on Add a Security Key and choose your phone as a device. School of phishPhishing attacks are common and often hard to spot, fooling even seasoned politicians. Security keys help prevent hackers from getting into your accounts because even if your password were stolen, an attacker would have to have the physical key to log in. “We’re solving the problem of someone thousands of miles away trying to steal your password,” said Sam Srinivas, Google Cloud’s product management director. “With this, someone has to be within 100 feet of you to try to attack you.” When Google first released its own Titan Key, it cost $50 for a set, and Brand said the company was hoping to eventually drive the cost down to less than $10. 07-titan-keyLast year, Google released its own Titan Security Key in both a USB and Bluetooth version. Sarah Tew/CNET By turning Android devices into security keys, Google is essentially giving them out for free. That much coverage could make it easier for more people to start using security keys, said Conor Gilsenan, a security researcher at All Things Auth.Over Christmas, the security expert said, he bought his family members security keys, but it took more than two hours to set up all these devices. “This is such a big deal,” Gilsenan said. “Being able to utilize the phone that you already have removes an entire barrier to better forms of two-factor authentication for the average internet user.”Brand said the phone security keys meet the FIDO authentication standard, which means any websites allowing for that standard will work with your phone as a security key. That includes websites like Facebook, Twitter and GitHub. Convenience is keyBrand is hoping the launch will convince other pages to accept phones as security keys.The technology works by connecting your phone and your computer’s Bluetooth when you’re logging in on a Google account. You’ll be prompted with a message on your phone to verify the log-in once they’re connected. While they’re using Bluetooth to communicate, the two devices don’t have to pair with each other, Brand said.”We devised a new standard on top of Bluetooth to make sure that these don’t need to pair,” he explained.There have been criticisms of using Bluetooth in security keys, because the wireless protocol could be open to security vulnerabilities. When Google announced its Bluetooth security fob last year, Yubico CEO Stina Ehrensvard released a statement saying Bluetooth didn’t have the same security standards as NFC and USB.Brand said Google had the capability to let your phone function as a security key through a USB cable but decided against it. “We’ve done user studies, and asking a user to have a cable ready that’ll fit both their devices almost takes away all the convenience of using their phone,” he said. Still, even with all the convenience of phones, Brand and Srinivas recommend having a second, backup USB key. That way, if you ever lose your phone or the battery’s dead, you can still log in. Now that half of all Android devices can function as security keys, the new challenge will be getting people to actually use them that way. Security keys have a lower adoption rate than 2FA as a whole, but the convenience will likely draw more people to better protect their accounts. “You don’t have to plug it in, and you don’t have to buy a new device, since you already have the phone,” Gilsenan said. “The bigger challenge is communicating to people that they actually need 2FA.” Tags Comments Googlelast_img read more

Prakash Raj on antiTamil comments Its deliberately misquoted with bad intentions

first_imgPrakash Raj.PR HandoutPrakash Raj was facing the wrath from a section of Tamils for his alleged anti-Tamil stand. However, the timely clarification has put an end to the controversy which could have landed him in major trouble in Kollywood.According to Tamil media, Delhi Chief Minister Arvind Kejriwal had claimed that over 500 Tamil students were studying in Delhi University and taking away the opportunities of Delhiites. He promised to change the scenario if voted back again to power.Prakash Raj, who is campaigning for Arvind Kejriwal in Delhi, reportedly backed Delhi Chief Minister’s views. On reminding him about working him in so many Kollywood movies, the veteran actor allegedly claimed that he was from Karnataka and not Tamil Nadu.From Tamil Nadu Chief Minister Edappadi K Palaniswami to BJP leaders, many politicians condemned his comments, while netizens attacked him for being ungrateful to their state in spite of getting good opportunities to work in Kollywood. Many asked him to apologise or get banned from working in the Tamil film industry.However, producer Dhananjayan quickly came to Prakash Raj’s rescue and tweeted, “Is it true @prakashraaj sir? Did you speak like this? I hope it’s not true & you were misquoted. In India Students from anywhere can study & make a career. No one can restrict that. I made my career studying at #Mumbai & ever grateful. So is the case of thousands studying here ✍️ [sic].”Responding to the post, Prakash Raj thanked him for the clarification and claimed he never made such a statement. “YES .. Dhananjayan… thank you for clarifying with me …. I NEVER SAID THAT. .. it’s DELIBERATELY MISQUOTED WITH BAD INTENTIONS.. SHAME on those who stoop to this level ..[sic],” the actor tweeted.Prakash Raj was born and brought in Karnataka but rose to become a popular actor by working in Tamil and Telugu films.last_img read more

Study analyzes role of mobile software in the future Internet

first_img Explore further One method for advancing network services in the future Internet consists of combining mobile agents with an evolutionary framework. In these methods, the mobile agents must decide for themselves the best course of action to take in order to handle users’ requests most effectively, with the results of the decision impacting their survival. Currently, these methods are far from being practically implemented since they lack a basic theory of the migration behaviors of mobile agents on a large scale. In a new study, Yongsheng Ding and Lei Gao from Donghua University in Shanghai, China, have performed a macrodynamics analysis of mobile agents’ migration behaviors, which could provide a fundamental basis for the development of a more ubiquitous future Internet. Their study will appear in a future issue of IEEE Transactions on Systems, Man, and Cybernetics – Part A: Systems and Humans.“We think the work is significant in being the first to conduct the macroanalysis of large-scale mobile agent migrations,” Gao told PhysOrg.com. “The study not only favors the design of composite services in a type of self-organizing network architecture, but also benefits the future deployment of an Internet-scale mobile agent system that holds myriads, hosts, and migratory movements of mobile agents.”Previous studies have predicted that the future Internet will have vast numbers of these mobile agents that can effectively handle users’ requests. As Gao explains, mobile agents could have significant advantages compared with stationary agents, especially for mobile devices.“Due to the resource limitation of mobile devices, agents are sent to some nodes/devices with rich resources for doing some tasks that have high requirements for resources, and then they bring the results back,” Gao explained. “Mobile agents can automatically suspend their executions on one host and migrate to another to resume their computations without tedious and slow network communication.”As the researchers explain in their study, mobile agents can be considered in terms of an evolutionary framework: When a mobile agent performs a service, it gains a reward. The more rewards a mobile agent has, the longer it survives, while agents that run out of rewards die. So mobile agents evolve and become more effective at handling users’ requests. They have several abilities to maximize their usefulness, such as adapting to changing environments, manipulating objects, and learning from past experiences. They also have the ability to replicate themselves individually or reproduce “children agents” with other mobile agents. T-Mobile and Samsung revealed the Galaxy S 4G More information: Yongsheng Ding and Lei Gao. “Macrodynamics Analysis of Migration Behaviors in Large-Scale Mobile Agent Systems for the Future Internet.” IEEE Transactions on Systems, Man, and Cybernetics – Part A: Systems and Humans. To be published. Citation: Study analyzes role of mobile software in the future Internet (2011, March 22) retrieved 18 August 2019 from https://phys.org/news/2011-03-role-mobile-software-future-internet.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Copyright 2010 PhysOrg.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed in whole or part without the express written permission of PhysOrg.com. (PhysOrg.com) — Although it’s difficult to predict what the future Internet will look like, it’s probably safe to say that certain trends we’ve seen during the past decade will continue. This means that the Internet will become further integrated into our daily lives, becoming more ubiquitous, available, autonomous, and mobile. The engineers who are guiding the Internet in this direction are doing so by developing mobile agents, which are pieces of software that can autonomously migrate from one computer to another and interact with each other. In the researchers’ model, mobile agents that perform the same or similar services (e.g., performing a credit card transaction or providing GPS data) would form a community, or “niche.” In these niches, mobile agents can learn from their surrounding environment, improve their performance, and gain more rewards. Depending on user demand, these niches can grow or shrink. The researchers’ model shows that the number of mobile agents in all niches eventually stabilizes, so that the average growth rate of the total mobile agent population reaches zero. By understanding the macroproperties that emerge from the behaviors of a large number of autonomous mobile agents, the researchers hope that they can design improved network services with more advanced features. This kind of modeling is still in its infancy, and the researchers hope to continue improving these models, and eventually apply them in the future Internet.“We believe the future Internet will be hundreds of times faster than the current one,” Gao said. “We envision the future Internet as a global integrated platform for communication, education, entertainment, business, and other human activities. Network services are required to be highly available, ubiquitous, highly secure, self-managing, and adaptable to dynamic network environments and user requirements. The characteristics of the future Internet we envision resemble the self-organizing and the self-healing properties of natural ecosystems that have evolved over billions of years. The harmonious properties of natural ecosystems have shown us a promising way to build the future integrated platform.”last_img read more

Feluda and Byomkesh to dominate screens this Christmas

first_imgThe festival season in Kolkata is going to see a crop of new detective films in Bengali- a Byomkesh Bakshi thriller and a Feluda flick. Double Feluda is an upcoming thriller directed by acclaimed director Sandip Ray, son of the iconic film director Satyajit Ray.Occasion? Feluda was created by the acclaimed Oscar-winning director 50 years ago and son Sandip Ray’s latest Feluda film is based on this popular Bengali sleuth’s many exploits. This film also marks the comeback of veteran actor Sabyasachi Chakraborty as Feluda (after Royal Bengal Rahasya in 2011) and Saheb Bhattacharya, as his assistant Topshe.  Also Read – Add new books to your shelfThe film is scheduled to be released in mid-December. Two stories, ‘Samaddarer Chabi’ and ‘Golokdham Rahasya’ are going to be packed in this thriller. The popular character Jatayu of other Feluda stories and films will probably be missing from these films. Just a year after hitting the silver screen with the popular Har Har Byomkesh, director Arindam Sil will be back once again with a revamped Byomkesh Bakshi – Byomkesh Pawrbo- starring Abir Chatterjee in the lead role.  Also Read – Over 2 hours screen time daily will make your kids impulsiveBased on Sharadindu Bandhopadhyay’s classic series, the cerebral Bengali sleuth Byomkesh Bakshi will be revealing his daring side as he pulls off some daredevil stunts in the Dooars forest where the story is set. A new riveting case sees Bakshi playing investigator in Santagola which has become a hub of the illegal weapons trade. The Bengal Government requests the sleuth to track down the culprits but as soon as Bakshi starts his investigation, he zeroes in on few well-known people of this city, who turn out to be possible suspects. However, he realises that these men are powerful and  he will never be able to search their warehouses and mills. In the meantime, a demented man named Amrito claims that he has seen a strange, horse-riding figure roaming around the jungle. Amrito is sent to the jungle to observe this phenomenon. The very next morning, his bullet ridden dead body is found inside the jungle. As Byomkesh delves deep into the case, a lot of well-respected men gets unmasked.Director Arindam Sil explains why going back to this particular series is important to him, “Byomkesh Bakshi is one character in Bengali literature whose depth lies in the multiple layers of his persona. Though he is a deep thinker, a ‘Satyanweshi’ yet his unflinching courage, righteous nature and dauntless spirit make him stand apart from the rest”. The key attractions of the film, says Sil, are the  beauty of the Dooars forest where the film has been extensively shot, the backdrop of the Tebhaga movement of 1948 and superb acting by an  eclectic cast, including Abir Chatterjee (Byomkesh), Sohini Sarkar, Ritwick Chakraborty, Rajatava Dutta, June Maliah, Sayantika Banerjee, Kaushik Sen and other accomplished character actors of Bengali cinema. Releasing on December 12, the film is bound to face off with the Feluda release but Sil is confident about his success, “I am my own competition. Also, if Sandip Ray is liberal enough to give me rights to making another Feluda film, I’m game”.  The film has been produced by Shree Venkatesh Films and Surinder Films while Sandip Ray’s Double Feluda has been produced by Eros International.last_img read more

ACVs new Travel Advisory Board will make company a better partner says

first_img Share Friday, September 2, 2016 Cindy Sosroutomo << Previous PostNext Post >> TORONTO — “Ask questions. A lot of them.” This is the single most important lesson that Craig Landry has learned in his first eight months as President of Air Canada Leisure Group (ACLG). Although having already been part of the Air Canada family for the past 22 years, Landry admits that stepping into his new role from his previous post as Vice President of Marketing was a “big change,” especially since as President, he now oversees two major arms of the company: Air Canada Vacations (ACV) and Air Canada Rouge.“The tour operator business is an inherently commercial business so you’re dealing with product and pricing, distribution and marketing, but the context and challenge of business is very different from what I’ve done previously,” he says. “Rouge is also a big departure because it’s very operational. It’s about integrating new aircraft into the fleet, getting those aircraft retrofit and entry into service, recruiting large numbers of flight attendants and pilots, and getting them properly trained and qualified. And with the rapid expansion that we’ve been in, the operational requirements are very heavy and significant. There’s been a lot to learn and a lot to do.”So you ask questions, a lot of them, because according to Landry, “this business is moving very quickly and we aspire to change with the times, and the only way you get to do that is by being curious.”More news:  Air Canada’s global sales update includes Managing Director, Canada & USA SalesIt is this sense of curiosity and desire to learn that has perhaps inspired ACV to launch a brand new Travel Advisory Board. Beginning this month and managed by Vice President of Sales and Partnerships George Platanitis, the Board is expected to include anywhere from 20 to 30 members across the country who will provide insight into relevant industry issues.“We understand that the perspective on our product, the market and on consumers is different in different parts of the country, so it’s important that we have representatives from the west coast, central Canada, eastern Canada and so on,” adds Landry. “The idea is to bring together a group of folks and ask them to help us be a better partner to them. It’s very clear in our mind that when the travel agency community is successful, then we as a business is successful.”Landry, who says that approximately two-thirds of Air Canada Vacations’ bookings are made by travel agents, anticipates a number of issues to be brought up by the Board, primarily regarding ways to improve agent interaction. “One of the things we hear from the travel agency community,” he says, “is that agents are looking for us to make their lives as easy as possible, and we are of the same mindset.”More news:  Transat calls Groupe Mach’s latest offer “highly abusive, coercive and misleading”ACV’s Sales Team has sent out invitations to chains, consortia and independents in the hope of acquiring 20-30 members in total. Launching this month, the company plans to share the names of board members on Sept. 7, the first day of its cross-country Product Launch.The Board will meet monthly for the first six months, after which it will meet quarterly at ACV’s Toronto and Montreal offices and via conference calls.To read the full article, check out the Sept. 1 issue of Travelweek, click here to see the digital edition.To subscribe to Travelweek, click here. ACV’s new Travel Advisory Board will make company a better partner, says Landry Tags: Air Canada Vacations Posted by About Latest Posts Cindy SosroutomoDeputy Editor at TravelweekCindy is Deputy Editor at Travelweek and has worked for the company since 2007. She has travelled to more than 50 countries and counts Kenya, Morocco, Thailand and Turkey among her favourite destinations. Latest posts by Cindy Sosroutomo (see all) Frustrations mount over elusive consumer-pay model: Will it ever happen? – July 16, 2019 “It’s in everyone’s best interest to stay open”: Beaches Turks & Caicos will not close in 2021 – May 15, 2019 Putting “Partners First”: NCL’s CEO lauds agents and the new Norwegian Joy – April 29, 2019last_img read more

Pals Kiara Baird and Derry mum of three Maria Wall

first_img Pals Kiara Baird and Derry mum of three Maria Wallace killed in car crash in Ballybofey, Co Donegal in 2016A drunk-driver who killed two women, including a woman from Derry, in a horrific car crash blamed one of the women for driving the car.Dermot Dowd has appeared at Letterkenny Circuit Court after pleading guilty to causing a crash which resulted in the deaths of friends Kiara Baird, aged 19 and mum of three Maria Wallace, from Derry, aged 38.The two pals died when Dowd, 24, ploughed into a lamppost on the outskirts of Ballybofey in September, 2016. Ms Wallace was still breathing and was also rushed to hospital but died a short time later from her injuries.Dowd, of Donegal Road, Ballybofey, pleaded guilty to dangerous driving causing the women’s deaths, dangerous driving, drink-driving, driving without insurance and driving without a license.The court heard how both women had been studying a course with the Education Training Board (ETB) and had decided to go for a couple of drinks in Bonner’s Bar in Ballybofey on the afternoon of September 21st.They met Dowd in the bar and they began drinking together.Around 4 pm, all three got into Ms Wallace’s car and CCTV footage showed Dowd having a number of near misses before travelling out the Glenfin Road.A couple of minutes later he was to lose control of the car, hit a footpath and then strike a lamppost.Dermot Dowd leaving Letterkenny Circuit Court. (North West Newspix)Garda forensic evidence revealed that after it had rained, the road became dry and that weather was not a factor in the crash.Ms Wallace’s car was also in a serviceable condition and was not a factor in the crash on the road which is governed by a 60 kmph speed limit.The families of the two dead women sat in court listening to the harrowing details of how their loved ones died.Maria Wallace’s mum Mary McGonagle’s victim impact statement was read into court.She said that all she wanted was justice for her daughter.“For me there is no pills or operation I could have to heal my broken heart.“All I do now is stand beside Maria’s grave and cry alone.“I would have given anything to keep my coffin in her room to be near her and I still wish I could,” she said.In a victim impact statement, Kiara Baird’s mother Tracy told how they had moved from Dublin to Donegal to start a new life as they felt their neighbourhood was getting rough.She told how her daughter was a little naive and innocent and took people at face value but how she had the most beautiful smile and was always so happy.She said her life had changed forever since she lost her first-born child.“There will always be a big part of me missing with her gone. I really could never express how much I miss and love her, and how lost we all are without her.“I have lost people in my life who I have truly cared about, but the loss of Kiara was nothing I have ever experienced.“It’s like something broke into my chest and just ripped out my heart,” she said. ShareTweet Further victim impact statements were read on behalf of Kiara’s dad Andrew Blake while a poem by Maria’s brother Michael was also read out.Sitting in a grey tracksuit, the accused man sobbed throughout the case.His barrister Mr Colm Smyth, SC, said his client had often wondered why he was not killed in the accident.“He is troubled by the fact that he survived this accident and his two passengers did not.“He accepts full responsibility and that he needs to be punished.“But regardless of the sentence, he will be doing the sentence for the rest of his life,” he said.The court was also told that Dowd has 30 previous convictions for a range of offences including theft and the sale and supply of drugs but has no convictions for traffic offences.Judge John Aylmer adjourning sentencing until this Friday.DRUNK DRIVER WHO KILLED DERRY WOMAN AND HER FRIEND CLAIMED ONE OF THEM WAS DRIVING was last modified: January 31st, 2018 by John2John2 Tags:center_img Dowd had downed several drinks before driving out the Glenfin Road, losing control of the car and striking a lamppost.When Gardai rushed to the scenes, they found the two victims had been thrown from the Citroën C3 car just after 4pm in the afternoon.Dowd initially told Gardai at the scene that Ms Wallace had been driving the car.He was rushed to Letterkenny General Hospital but Kiara Baird died at the scene. ballybofeyDERMOT DOWDDRUNK DRIVER WHO KILLED DERRY WOMAN AND HER FRIEND CLAIMED ONE OF THEM WAS DRIVINGgardaiKIARA BAIRDletterkennyMARIA WALLACElast_img read more

I have a secret to share For the last 43 years I

first_imgI have a secret to share. For the last 43 years, I have been an educator—first traveling all over the world conducting training classes and now through the written word. You’ve probably heard the adage: when the student is ready to learn, the teacher shall appear. The counterpoint to that line of thinking is that you can teach all day long, but it makes little difference if the other person does not want to learn. I agree for the most part, but that doesn’t mean educators should sit around waiting for a magic teaching moment. A good educator knows it is his job to grab people’s attention. So here I sit at my computer, trying to find the magic words to motivate our readers to explore a subject that might be a little scary, but it’s also the best avenue I know of to prevent our life savings from being wiped out in either a high inflationary or a deflationary market. OK, here goes: regular people like you and me should consider internationalizing some of our assets. I hope folks don’t stop reading at the last sentence, thinking this does not apply to them. There is something about the subject of internationalization that turns off a lot of people. I hear comments like: “I’m not leaving this country. My family is here.” Or “That’s for ultra-rich people, drug dealers, and Tina Turner.” Or the one I find really frightening, “I’m keeping my money right here where it is safe and protected by the government.”The Most Powerful Thug I have quizzed many investors who have internationalized a portion of their financial assets, and there is one common line of thought among them. As a government grows, it needs to confiscate a larger portion of private wealth to support its bureaucracies. It also needs to reallocate private wealth to bribe voters and stay in power. It finds ways to “enhance revenue,” as opposed to shrinking its bloated bureaucracy. Hell, our government probably spends a few million tax dollars on a politically connected public relations firm to come up with euphemistic terms like that. Governments are parasites; they must siphon wealth from the producers to survive. For a government to siphon off wealth efficiently, it must know where the wealth is, set up ways to take it, and have a strong enough police force to make sure citizens comply. The intention is to make it easier to pay up than go to jail. Even people with modest nest eggs are constantly looking for ways to legally protect their wealth. Lawyers love it, since it means citizens need a variety of trusts and complicated legal avenues for minimizing taxes. That’s part of the game. As governments press on, the stakes escalate, taxes increase, and we have to escalate our efforts to protect ourselves. Look to New Jersey or France—which recently passed “millionaire taxes” to facilitate going after the super-wealthy. A year later both governments found that the tax revenue they received from the ultra-wealthy had dropped even though they taxed at a much higher percentage of their earnings. What happened? The wealthy moved and took their money with them. Frankly, I’m amazed that the political class seemed so surprised. Instead of more tax dollars coming in, they ended up with fewer. The next move—look for additional ways to “enhance revenue.”Thugs Steal Land Have you heard of the term “eminent domain?” It means that the government has the legal right to confiscate your property for public use. For generations, it meant that if the government was building an airport or school, it could force a property owner to sell needed land to the government. Here in the United States, the Fifth Amendment limits the federal government’s ability to exercise that right. Americans put up with eminent domain because most of us have never had to deal with it. In 2005, the Supreme Court vastly expanded when eminent domain could be used. The Kelo decision allowed a Connecticut city to take private property and transfer it to another private owner as part of the city’s comprehensive economic redevelopment plan. In short, the definition of “public use” is running wild. Just look to the suburban towns in Cook County, Illinois, where private citizens were forced to sell their old Archie Bunker-type houses to the government. Then the government re-sold them to a politically connected developer who built a large condominium complex. Why did they do that? If 20 houses are torn down and 100 condominiums are built in their place, the government increases its tax base and increases “revenue enhancement” by 400% or more. Is this really a public use, or government use?Thugs Steal Gold Additionally, the government has targeted specific assets to confiscate. President Roosevelt confiscated gold by executive order in 1933. When he issued the order, gold was $20/oz. in round numbers. He made it a criminal offense to own gold to “encourage” citizens to comply with the law and redeem their gold for paper money. The price of gold from the Treasury was then raised to $35/oz. Those people holding fresh cash from the government took a huge hit to their wealth virtually overnight. In effect, the US government legally stole wealth from the private sector with the stroke of Roosevelt’s pen. It would be foolhardy to think something like that couldn’t happen again. A recent Casey Research special report on Obamacare makes it clear that seniors may be forced to go offshore for health care that we may be denied in the US. Should my wife Jo or I need a hip replacement or a heart procedure, I don’t want any delays because I have to find a way to move money offshore to pay for the care. Better safe than sorry. We can protect our nest egg by making it more difficult for a confiscatory government to steal it. The government makes more rules, and prudent investors have to look for ways to legally work around them and protect themselves. Offshore investing offers one of the best means to do just that. Of course, the US government doesn’t make it easy. Under the guise of the Patriot Act and the war on drugs, our government has instituted a series of forms demanding that US citizens report all of their foreign assets on a regular basis. In addition, it is escalating its demands on foreign banks to share data with it even though doing so may be in violation of the laws in the local country. Because of the hassle, a lot of foreign banks are getting rid of US clients. Bingo! That’s exactly what our government wants them to do to us. The federal government is frantically escalating its efforts to identify and locate all assets belonging to US citizens all over the world. If you don’t supply the information, there are criminal penalties. It is watching—as Edward Snowden recently pointed out. And it also owns the police force—as Mr. Snowden quickly found out. Prudent people who understand the game will take steps while they still can to legally move some of their assets out of their home country, just like the people of New Jersey and France have done. The government likes to label those who do so as “selfish tax evaders” and “cheats” to discourage us from protecting ourselves. Always comply with the law. Report and pay taxes on your income, but use every legal avenue to protect your nest egg, or you could lose it.Added Benefits to Internationalization Not all of the reasons for going international are defensive. Offshore investments not only offer good investment choices that are not available in the US, they can also provide a tremendous advantage for protecting against inflation. When the dollar inflates, its buying power drops in relation to other currencies. Inside my offshore Roth IRA, I have investments denominated in eight different foreign currencies. As the value of the dollar decreases—which it has for the last 100 years—owning assets denominated in a currency that is increasing in value can offset those effects. I bought a stock on a foreign exchange that could have been bought here in the US. When I sold it for a nice gain, I realized that not only did I take a gain on the stock, I also had an additional profit due to the foreign currency increasing in value against the USD. My goal today is to help our readers understand why a lot of investors, even with smaller portfolios, are looking outside the US to protect themselves and their nest eggs. Internationalizing some of our assets is a darn good insurance policy. How many get-togethers have we had where friends expressed concern about the government and the direction the country is going? The next step in the government chess game will be instituting capital controls, like Argentina has already done. That means the amount of money citizens can take out of the country will be tightly controlled by the government. If we wait until that happens, it will be too late. While Jo and I have no plans to move out of the country—after all, our grandchildren are here—we think it’s plain old common sense to hold some of our investments internationally. In addition to good investment opportunities, we just feel safer because we are better protected from inflation, deflation, or outright confiscation. —- I decided to write this article after reading a new Casey Research special report, Going Global 2013, and quickly realizing that it applied to my readers and myself. I liked that the report covers how small investors can easily get started and discusses investments we can make even if we want to keep our money closer to home. The report also shows us how we can find and open accounts—including an IRA—all around the world, and details more sophisticated foreign trusts and legal ways for larger investors to pass their wealth down to future generations. It even offers steps we can take from our own home to store physical gold in safe jurisdictions like Singapore and Switzerland. Unlike most of the material I read on internationalization, which is written for ultra-wealthy investors (by someone who is trying to garner their business), this report is written for you and me. While most of us will never progress beyond Chapter 8, we can progress to our personal level of comfort and protect our nest egg accordingly. I’ve worked out an arrangement with the authors so you can purchase Going Global 2013and get a free three-month subscription to Money Forever. During your free three months, you’ll receive three issues, have access to all the research on the investments in our portfolio, and access to all of our special reports, like the popular monthly income plan, Money Every Month. Click here for more about Going Global 2013 and this special offer. If this sounds right up your alley, plan to check out the August issue of Money Forever—we have a terrific interview with Nick Giambruno, senior editor of International Man, lined up. Nick’s perspective only amplifies why folks like you and me should take advantage of international investing, and he answers some of the questions that may have popped into your mind as you read this article. Money Forever subscribers should look for the issue in their inboxes on Tuesday, August 20.On the Lighter Side The NFL season will soon arrive. It held its annual Hall of Fame game last week, and this weekend we have a full slate of preseason games. If you are a football fan, I urge you to add a trip to the Pro Football Hall of Fame in Canton, Ohio to your bucket list. I spent a good bit of time walking around the museum, relating childhood memories to Jo. At one time, I had Bears season tickets. It always griped me that the franchise made season ticket holders pay full price for two preseason games or they lost the right to buy the tickets for the regular games. Football, like most professional sports, may receive a rude awakening if our economy does not improve. The Tampa Bay Buccaneers were Super Bowl champions a decade ago and bragged that they had 57,000 people on their season-ticket waiting list. Now they have a hard time filling their stadium, and many of their home games are blacked out locally as a result. On a happier note, I am still receiving colorful emails from our readers about their career encores. Thank you to everyone who took the time to write in. If you have ideas to share and you have not yet dropped me a line, please send your story my way. I plan to share some of your ideas in Money Weekly towards the end of the month. And finally… As long as we are focusing on the government, here are some clever political quotations provided by Courtenay W. We hang petty thieves and appoint the great thieves to public office.—Aesop, Greek slave & fable author. Politics is the gentle art of getting votes from the poor and campaign funds from the rich by promising to protect each from the other.—Oscar Ameringer, “the Mark Twain of American Socialism.” Until next week…last_img read more

Its a problem that has come seemingly out of nowh

first_imgIt’s a problem that has come seemingly out of nowhere. Over the last five years a worrisome number of low-income countries have racked up so much debt they are now at high risk of being unable to pay it back — with potentially devastating consequences not just for their economies but for their citizens, many of whom are already living in extreme poverty.That’s the sobering finding of a report by the IMF. And it’s got some prominent experts calling for urgent action. Among them is Masood Ahmed. Twenty years ago, as a top official at the International Monetary Fund, he spearheaded a historic agreement to wipe the slate clean for 36 poor countries that were being crushed by their loan interest and repayment bills. NPR spoke with Ahmed — who is now president of the Washington, D.C., think tank Center for Global Development — to find out how this latest debt debacle was set in motion, why it has him so alarmed, and what can be done to avert it. (This conversation has been edited for length and clarity.)Just how far and how fast has this problem spread?To get a sense, says Ahmed, consider that of the 59 countries the IMF classifies as “low-income developing countries,” 24 are now either in a debt crisis or at high risk of tipping into one. “That’s 40 percent of poor countries,” says Ahmed, “and it’s nearly double the number five years ago.”Those in most trouble include two countries that have already defaulted on some of their loans: the Republic of Congo and Mozambique. Ahmed notes that these are not loans taken out by individual citizens. “This is money borrowed by governments,” he says. “So the definition of a debt crisis is that they are not able to meet their obligations. They are already unable to pay the interest on their debt or to keep to the repayment schedule they had agreed to.”Four more countries are also already considered in “debt distress” because even though they haven’t outright defaulted they’ve reached a point where they are making only intermittent loan payments or cutting deep into their operations budget to pay off their debt. These are Chad, Eritrea, Somalia, South Sudan, Sudan and Zimbabwe. The remaining 16 are considered at high risk of falling into debt distress soon based on the IMF’s analysis of the amount of debt they’ve taken on compared with how much income their economies can actually be expected to generate in the near future. These too are mostly countries in sub-Saharan Africa such as Ghana, Zambia and the Central African Republic. But the list also includes seven nations from other regions, such as Afghanistan, Haiti, Tajikistan and Yemen.What happens when a country can’t pay its debt? What are the consequences for ordinary citizens?Ahmed notes that even extremely poor countries offer all sorts of services to their citizens — keeping public order, maintaining health clinics and schools, providing food to people at risk of famine, investing in new infrastructure that can help grow the economy and so on. And even before reaching the point of actual default, governments with unsustainable levels of debt must begin diverting ever more of their budget away from such services so they can meet their debt payments.The most vulnerable citizens are often the first to suffer. “For instance, people who show up to their local [public] health clinic that is already only open once a week may now find that it also doesn’t have medicines,” says Ahmed. “Or that school that was going to open this year to meet the needs of a particular neighborhood, it gets postponed.”So this is very much an on-the-ground crisis. “It’s easy for us to think of these as abstract financial numbers. But it’s very important to recognize that behind these numbers are the lives of people who are already living in very difficult circumstances.”And what if a government does default?It gets far worse because the entire economy can be thrown into paralysis. When a government can’t meet its existing debt obligations, explains Ahmed, “that makes it very hard to access new money.” Lenders that provide this type of financing aren’t going to want to throw good money after bad. And to keep up daily operations, governments need continual access to credit. Ahmed adds that these operations often include not just the provision of services to citizens but business activities that generate much of a government’s income — extracting and exporting natural resources like copper or oil, for instance. These kinds of operations can become impossible without day-to-day credit. “Just like for a small business, you need to be able to borrow on a day-to-day basis for your cash flow,” he says.And as the day-to-day turns into year-to-year?The consequences can be just as debilitating, says Ahmed. Once a country has defaulted it can forget about taking out loans or floating bonds to fund investments in infrastructure or other measures that would help grow its economy long term. Pretty much every type of lender that poor countries rely on is going to balk. This includes even international financial organizations, such as the World Bank, whose mission is to provide poor countries with low-interest loans or outright grants to help them develop. The thinking of officials at the World Bank, says Ahmed, is going to be, “I don’t want the money to just go to another creditor.”And so a kind of deadly feedback loop could be created: The country’s debts would prevent its economy from creating the growth needed to pay off those very debts.What about that massive debt forgiveness for 36 countries that you helped broker back in the 1990s — the “debt relief” campaign made so famous by celebrities like the rock star Bono. Wasn’t that agreement supposed to end debt crises like these once and for all?Yes, says Ahmed. And for about 10 years the agreement was, in fact, remarkably successful. All sides had recognized their sins — the governments of the borrowing countries that had taken on the excessive debt and also the lenders that had pushed what had been in many cases clearly unsustainable loans — including governments of rich countries like the U.S., commercial banks from those countries and even the IMF and World Bank. In exchange for writing off the debt everyone vowed to be more responsible.”But after a decade, memories start to get cloudy,” says Ahmed. “And these commitments are, of course, not binding. If a country wants to go out and borrow money, they’re going to go out and borrow.”And in recent years a whole new class of lenders emerged to offer up easy credit — most notably the government of China and various associated Chinese banks and development agencies. “You had Chinese financial institutions and China as a country really expanding its presence and its financial role in developing countries,” says Ahmed. “I find really striking [that] between 2013 and 2016 China’s share of the debt of poor countries increased by more than the share of all these traditional lenders [who had made the loans back in the 1990s] put together.”Another factor: In the years since the 2008 financial crisis, interest rates in wealthier countries have been stuck at very low levels. “So people who have assets and want to invest their money all wanted to look for opportunities.” These include managers of investments funds, pension funds and the like from wealthy countries. They had not historically been major sources of financing for poor countries. But in recent years they started snapping up bonds issued by African countries — whose economies at the time seemed to be growing at a healthy rate. These bonds offered much higher rates of return than bonds from wealthy nations.Surely the borrowing nations also face some responsibility?”Some countries quite frankly just took advantage of the availability of money,” says Ahmed. He points to cases of outright fraud and corruption in Mozambique, Moldova and Gambia — in which government officials borrowed money on behalf of their nations, then apparently pocketed it for themselves.Then there are cases of countries that derive most of their income from exporting a few commodities — for instance, Zambia, which relies on copper. In recent years, the prices for many commodities fell sharply and stayed flat — depressing their national income.”Suddenly you find that what you thought was a level of debt you could manage is harder to maintain,” Ahmed says. Adding to the problem, instead of cutting their national budgets to account for the lost revenue, these countries turned to borrowing to make up the difference.And then there were the cases of simply less-than-ideal management. “I’m thinking of countries like Ghana and Ethiopia,” says Ahmed, “where they just felt, you know, people are willing to give us the money, let’s do it.” And then they failed to use the money for productive investments. “In many of these countries about half the increase in borrowing was not associated with an increase in investment. It was just used to spend more on current spending, things like salaries.”So is there a fix?Ahmed says it’s clear some kind of debt restructuring and forgiveness is going to be needed. It will require getting all the creditors to the table to agree on the terms. “And that is not an easy thing to do.”Back in the 1990s it took years of grinding negotiations. This time around the process is likely to be even more complicated because so many of the creditors are new to the game. “The IMF is still a very good place from which to have this conversation,” he says. But it is essential to bring in China and let it play a leadership role.Given the challenges, this effort needs to start now, he says. Yet there seems to be a lack of urgency among world leaders. While IMF officials will be discussing the debt issue in Washington this Saturday as part of their annual spring meetings, it’s just one of a host of topics on the agenda.What’s more, while the amount of debt involved may be crippling to poor countries, it’s just a drop in the bucket of the global economy. This debt crisis is not going to cause a worldwide financial meltdown. So unlike the classic debtors in financial crises who benefit from being too big to fail, these nations could find themselves too poor to warrant a bailout. Copyright 2018 NPR. To see more, visit http://www.npr.org/.last_img read more