The Liberian dollar is— once again— losing ground against the US dollar as consumers grow weary of visiting the market due to this situation. On the local foreign exchange market last week, the Liberian dollar was trading at L$85.00 for US$1.00, as the first quarter of 2014 draws its curtain. In January, the foreign exchange market got worse with the exchange rate hitting at L$90.00 for US$1.00.Amidst worries, consumers gave mixed reactions last week on fears that they may soon be unable to buy their needs. In a conversation with the Daily Observer’s business desk in Monrovia on Friday, Madam Hester R. Johnson, a consumer, expressed frustration over the pace at which the local currency is losing ground.“I came to the market to buy my food, but I am forced to spend more because prices have gone up. I am told that the exchange rate is the reason for the increase,” she said. Most Liberians earn their living on the Liberian dollar; as a result, depreciation of the Liberian dollar leads them to spend more money for less goods and services.While Madam Johnson and a larger segment of the population were worried about the depreciation of the Liberian dollar, others who have easy access to the US dollar were yearning for further increase in the exchange rate. “I want a higher rate for my US dollar,” insisted John G. Mulbah. Two money changers on Carey Street, Alpha Diallo and Andrew Kollie, attributed the depreciation of the Liberian dollar to huge demand from businesses, mainly from foreign business owners.“These business people need the US dollar rate intact to import their goods,” they said.Whatever the case, this situation warrants some level of intervention by the central government as the demand for the US dollar rises.The business desk following the foreign exchange market for weeks has observed that the huge demand for the US dollar is influenced by several factors as follows; the rising trade deficit being sustained by the economy where import is far higher than export.For example, the Liberian economy has to raise millions of US dollars (import payments) for rice, petroleum, clothes, cars and all of the consumable goods that importers bring to Liberia to sell.It is worth noting that most of the goods imported are sold in Liberian dollars, which have to be exchanged to US dollar before new goods are imported. The other reason is that all of the foreign companies, mainly concessionaires, are exporting unprocessed raw materials to the world market.These companies sell our raw materials in US dollars, but they don’t bring their profits back to Liberia. They shipped their profits overseas and deposit them in their foreign bank accounts and bring back only operating costs.Also to blame is the lack of or slow pace at which manufacturing is taking-off in the economy.Businesses have attributed the snail’s pace of industrialization in Liberia to the high cost of doing business in a country that has no electricity and pipe borne water. If any of these two infrastructures is available, it would be sold for the highest price probably in the world. Another key reason for the depreciation is that the government of Liberia requires the Central Bank of Liberia to maintain reserves in US dollars. This policy has, to a larger extent, limited the CBL’s ability to intervene or auction more US dollars to businesses.CBL’s 4th Quarter Exchange RateIn the 4th Quarter of 2013, the Liberian-US dollar exchange rate (on average) depreciated by 12.9 percent to L$81.88 for US1.00 at end-December, 2013, from L$72.50 forUS1.00 at end-December, 2012, the Central Bank of Liberia (CBL) says.However, when compared with the immediate past quarter, the depreciation was moderate at2.8 percent. A major factor that contributed to the pressure in the foreign exchange market, the CBL observed was largely caused by the high demand for foreign exchange needed to service rising import payments in the economy. The end-of-period exchange rate also depreciated during the quarter, moving to L$82.50 for US$1.00 at the end of December, 2013, from L$72.50 for US$1.00 a year ago.CBL’s Market InterventionAccording to the CBL, the total amount of foreign exchange sold during the 4th quarter of 2013 amounted to US$5.7 million, 60.0 percent down from US$14.3 million sold during the third quarter of 2013. With the Government of Liberia’s (GOL) external reserves accretion policy in place, the CBL declared that its intervention level declined substantially at end-2013 giving rise to immense pressure on the exchange rate during the quarter. On an annual basis, the total foreign exchange sold during the quarter dwindled by 67.4 percent.Money Market DevelopmentsOn the other hand, however, the money market operations in the economy gained momentum at the end of 2013. On behalf of the government of Liberia, the CBL conducted three 91-day T-bill (Treasury bill) auctions valued at L$320.5 million at a weighted average discount rate of 1.88 percent.The CBL reported that the amount of L$379.5 million (at a discount rate of 2.11 percent) representing the total value of previous quarter’s T-bills issued was redeemed in the quarter and those issued during the 4th quarter, 2013 are expected to be redeemed in the 1st quarter of 2014.“It should be noted that the primary motivation of the T-bill program is to service government of Liberia’s short-term expenditure need,” the Bank noted.In November 2013, the Bank disclosed that it conducted an auction in CBL bill redeemable in 182 days which aimed at sterilizing the excess Liberian dollar liquidity in the banking sector.At a weighted discount rate of 2.44, the CBL bill was issued at the value of L$1,130 million compared with L$1,197.5 million (with 91-day maturity) issued in the preceding quarter.The low cost of borrowing (low average weighted discount rate) reflects excess liquidity in the system, which the CBL said it intends to sterilize.The levels of oversubscriptions in both the T-bill and CBL’s bill auctions during the quarter ended December, 2013 reduced substantially to, L$145.8 million and negative L$870 million, compared with L$324.6 million and L$416.7 million, respectively, in the preceding quarter, indicative of the gain made by CBL in reducing excess Liberian-dollar liquidity in the system. The introduction of Liberian-dollar-denominated assets, the CBL has said is a positive measure toward de-dollarization in line with West African Monetary Zone’s (WAMZ) single currency drive.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
The Senate has ratified through concurrence with the House of Representatives 14 ECOWAS Conventions or Protocols signed by the Government of Liberia. The articles were submitted to the Legislature by President Ellen Johnson Sirleaf last August. Protocols ratified included the one establishing an ECOWAS Criminal Intelligence and Investigation Bureau, which was formulated against the backdrop of various forms of crimes across West Africa and their effects on the socioeconomic development of countries in the sub-region. According to the document, CIIB as a specialized institution of ECOWAS is tasked with preventing and combating crimes across the sub-region, with the main objective of enhancing effectiveness and cooperation of competent authorities in member states to prevent and combat transnational crimes and other related offenses. Also ratified is the protocol to fight against corruption, which aims to promote and strengthen the development in each state effective mechanisms to prevent, suppress and eradicate corruption. The protocol seeks to intensify and revitalize cooperation among states with a view to making anti-corruption measures more effective and promoting harmony and coordination of national anti-corruption laws and policies.The now recessed Senate also ratified the Democracy and Governance Supplementary to the protocol relating to the Mechanism for Conflict Prevention, Management, Resolution, Peace Keeping and Security. It seeks to supplement the protocol relating to the Mechanism for Conflict Prevention, Management, Resolution, Peace Keeping and Security signed in Lome, Togo on December 10, 2001. The supplementary protocol contains new provisions that address issues relating to the prevention of internal crises, democracy and good governance, the rule of law and human rights. The lawmakers on the eve of their four-month break also concurred with the House of Representatives on an agreement on the cooperation in criminal matters between the police of member states of ECOWAS. This agreement came against the backdrop of the increase in crime and the need to put in place stringent measures to address “this serious mayhem which constitutes a serious threat to the security, peace and stability of countries in the region,” the release indicated.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
UPP Standard bearer, MacDonald WentoMacDonald A. Wento, political leader of the United People’s Party (UPP), has promised a gathering of religious leaders in Ganta, Nimba County that if elected at the upcoming October polls, his government will pass a legislation making Liberia a Christian State.Mr. Wento gave the assurance when he spoke at a leadership workshop held at the Ganta branch of the Trumpet Baptist Church recently.Wento expressed disappointment at those he described as “religious leaders who denied their faith by not supporting Proposition 24,” a constitutional proposal in favor of Liberia becoming a Christian State.“As Christians, we need to stand firm and defend our faith to the glory of our Lord and Savior Jesus Christ,” he declared. “What makes one a religious leader when such person cannot defend his/her faith? Bishops and pastors who are supposed to be telling the people or their congregation to support Liberia being a Christian State are the ones who are preaching against it.”Mr. Wento explained that other religions will be allowed to practice their faith when Liberia is declared a Christian State.He said in countries where other religions dominate, the laws cannot be underestimated, “because such religions cannot deny faith, rather the members remain resolute to stand by their faith.”Wento, meanwhile, condemned the idea of a Muslim heading Liberia’s interreligious council, which he said would never happen in a Muslim dominated country for a Christian to head an interreligious council.The UPP leader blamed the government for not allotting budgetary support to churches and pastors to spread the good news of God through Jesus Christ.“In Saudi Arabia,” Wento said, “the government allots budgetary support for Muslims to spread Islam.”Meanwhile, the constitutional proposition pushing for Liberia to become a Christian State has seemingly vanished from the recommendations currently before the House of Representatives for legislative action.Proposition 24, put forward after nationwide consultations that concluded with a conference in Gbarnga, Bong County, is promoting Liberia becoming a Christian State. Amid widespread public criticism of the proposal, the Daily Observer gathered that the proposition has been removed by the House Committee on Good Governance.Many persons including prominent religious leaders have reportedly rescinded their decision to support the proposition.According to sources close to the committee, the final recommendations submitted to House Speaker Emmanuel Nuquay for onward submission to plenary for deliberation do not include proposition 24, apparently in an attempt to keep it from going to a referendum.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
A flawed FA internal review and an earlier inquiry by barrister Katharine Newton had cleared Sampson over allegations of bullying and discrimination by Chelsea Ladies striker Aluko.Former England striker Gary Lineker tweeted: “Damning and damaging for FA with total vindication of @EniAlu.”Black former Arsenal and England striker Ian Wright tweeted the FA to say: “Rome is burning!”FA chairman Greg Clarke, chief executive Martin Glenn, technical director Dan Ashworth and human resources director Rachel Brace appeared before the Culture, Media and Sport committee.Over two hours, lawmakers on the committee pulled apart the FA’s handling of the allegations that pre-empted Sampson’s dismissal last month.The officials were grilled about what checks were made on Sampson before he became England manager and why the FA was withholding half of an £80,000 ($105,000) settlement owed to whistleblower Aluko.Glenn denied a claim by Aluko that she was told she would receive the second half of the payment if she released a statement saying the FA was not institutionally racist.Aluko said the request was “bordering on blackmail”.Panel chairman Damian Collins said the FA officials should consider their positions.“Yes, I think they have to look very carefully at the evidence given,” said the Conservative politician.A third attempt at uncovering the truth found that England women’s manager Sampson had made racist remarks to Aluko (pictured, L) in 2014 and team-mate Drew Spence in 2015 © AFP/File / Geoff ROBINSHe added: “The question should be: does what you’ve seen today inspire confidence and do they understand the issues well enough to put in place the right systems to ensure it doesn’t happen again?“And I’m not convinced.”– ‘They didn’t listen’ –British sports minister Tracey Crouch said she hoped the FA “learns lessons from this whole sorry saga to ensure that all in the sport and the wider public have faith in their processes and procedures”.“We have been clear that we expect world-leading standards of governance from all our national sports governing bodies,” she added.“This is why, alongside (funding bodies) Sport England and UK Sport, we have drawn up a new code for sports governance that all publicly funded sports bodies, including the FA, must adhere to.”The FA apologised to Aluko, who attended Wednesday’s hearing in London, after Newton’s second report found Sampson had made discriminatory remarks to her and team-mate Spence.Sampson was found to have told Aluko to make sure her Nigerian relatives did not bring the Ebola virus with them when they attended a friendly between England and Germany at Wembley in November 2014.He asked Spence, who is mixed-race, how many times she had been arrested.Sampson was sacked last month after it emerged he had engaged in inappropriate behaviour with female players in a previous role.As the fallout from the Sampson affair spread, the head of the Professional Footballers’ Association, which represents footballers in the United Kingdom, chided the FA for ignoring Aluko’s concerns.“They didn’t listen to her then. They’re still not listening,” Gordon Taylor told the BBC.Glenn refused to accept the FA’s entire response was flawed, while Clarke would not apologise personally to Aluko.Labour MP Jo Stevens told Clarke his attempt to justify his actions as an example of good governance was “shambolic”.Capped 102 times, Aluko has not played for England since first complaining about Sampson, but interim head coach Mo Marley said the door was open for her.“I want to give everybody that opportunity, that if you’re playing well … and you’re getting good talent reports, then I’m in a position where I can actually explore that and look at that,” Marley said.0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Mark Sampson, the sacked football coach of the England women’s team, had been the subject of accusations of racism, harassment and bullying made by former England player Eni Aluko © AFP/File / DANIEL MIHAILESCULondon, United Kingdom, Oct 19 – English Football Association bosses faced calls to quit on Thursday over their “shambolic” handling of the Mark Sampson affair as Britain’s sports minister urged the organisation to sort itself out.A report released during a British parliamentary committee hearing on Wednesday found former England women’s coach Sampson had made racist remarks to players Eniola Aluko and Drew Spence.
Donegal GAA star Michael Murphy is set to appear on a brand new magic show which is being broadcast on Irish TV.One of Ireland’s most sought after and exciting close-up professional magicians Rodney Hogg launches on television his new six-part series tonight.Produced and filmed by Donegal man, Brendan Bradas O Donnell of Jacksonsmediatv, the 6 part series was filmed over 8 months. The first show has Donegals own star, Michael Murphy appearing, along with world class snooker players, Joe Swail and Mark Allen, Northern Ireland soccer stars, Stuart Dallas, Paddy McCourt and Niall McGinn, and each and everyone of these sports stars are amazed at the close up tricks.Promising to have viewers’ jaws dropping as he performs complex tricks on unsuspecting celebrities and members of the public, Derry magician Rodd Hogg is filmed walking about city streets as he journeys through Belfast, Dublin, Kerry, Liverpool, Manchester and London, stopping off at live venues, hotels, bars and restaurants.The popular magician’s skills are fully on display as he performs his close-up magic tricks to camera. He said: “In each episode I perform six different tricks with six different groups of people and perform an individual trick on one famous face also. Everything you see on TV is exactly as it happens.“The focus is very much on the audience and their reactions and how magic can touch people emotionally and provide a real sense of wonder. So it is all about the people who watch magic because without an audience it would not exist.Rodd Hogg was awarded the title of ‘Irish Ring Close-Up Magic Champion’ by the Brotherhood of Magicians in 2013 and is a member of the prestigious Magic Circle in London.He said: “Magic is an art form and probably one of the most unique because you really connect with people and make them forget about everything going on around them.”Very much an entertainer as well as a magician, Hogg is admired for his breezy style and cheerful manner that puts those around him at ease. He even manages to incorporate a little bit of playful stealing in his act.He continued: “In a recession I’ll never go poor,” Hogg admits, sending a warning shot to anyone around him to hold on tight to their rings, watches and wallets. “I would like to highlight I always give stuff back,” he quickly said, revealing he can never resist including the stealing tricks for the looks of amazement on people’s faces when they see their watch gone from their wrist. “That reaction is priceless!”The part-time stuntman also enjoys being shackled in handcuffs under water with a limited time to escape. He concluded: “I am really excited about the show because people like to be entertained and love to be amazed. There is quite a lot of work to it because I am designing tricks never seen before. It’s about pushing yourself to the limit and seeing what you can achieve.”The six-part series starts on August 4 at 8.30pm and goes out every Thursday over six weeks. Be sure to tune in for some riveting magic and top class entertainment.‘Magic start’ to the week for birthday boy Michael Murphy was last modified: August 4th, 2016 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:Brendan Bradas O’DonnellFeaturesIrish TVMichael MurphyMusicianRodney Hogg
Thankfully the snow has stayed well east of us and the Captains Drive-In, postponed earlier this month, has been re-scheduled for this coming Sunday 12th February. Tea and biscuits will be served in the clubhouse at 11am, followed by the draw for the scramble. Stew will be served post golf. Best wishes to Captain Niall O’Donnell, Lady Capain Angela Kilgallen and President Padraic Munnelly.The recent 9 hole competition was won by Marion O’Sullivan 18 points B.O.T. Runner up was Bridget McClafferty 18 points. Some ladies apparently hoping Marion peaks too early this season!By popular demand, the weekly golf trivia and knowledge section has returned. Kicking off this week is the rule that cost Rory McIlroy his win last week. Line of Putt: The most important thing to know about the line of putt is that it only exists if your ball is on the putting green. If your ball is on the fringe, a line of putt does not exist for you.With that in mind, the line of putt is the line the player wants her ball to follow, after a stroke on the putting green.Note: The line of putt does not extend past the hole.GOLF: LETTERKENNY LADIES GOLF CLUB NOTES was last modified: February 11th, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:GOLF: LETTERKENNY LADIES GOLF CLUB NOTES
Mac Cumhaills GAA NotesGUEST TEA.As you all know, the Under 14 team will represent Donegal at this years All Ireland Feile Competition. This is a huge honour and a just reward for the these lads. They are a committed and hard working bunch of young men. We are having a fundraiser this Saturday night for the team. Its a Guest Tea, followed by a reunion of the last Mac Cumhaills team, 1988, to represent Donegal in the Football Feile. This will be a great nights craic, and there will be music etc as well. Doors open at 8.00pm with music from 10.00pm. FAMILY FORTUNES.The Grand Final of Family Fortunes was held in the club last Saturday night. We had 8 teams battle it out to see who won be crowned victorious. The final was an exciting affair between Alice Bonner’s team and Bishops Choir, lead by Pj Mc Ardle. The experience of World Champion Jason Quigley just shaded the final round for Andies to emerge as the champions. It was a brilliant nights craic. well done to all.MAC CUMHAILLS JACKPOT HITS €10,000There were no winners of this weeks Jackpot.Numbers drawn were 6,8,14 and 20.There were 6 match 3 winners.Next weeks Jackpot is €10,000.UNDER 14Well done to the Under 14 footballers who traveled to Ardara to take part in the Tomas Maguire Memorial Cup. The lads made it through to the Final were they took on Naomh Conaill. After another fine display they ran out comfortable winners. Well done lads. Many thanks to Ardara Gaa for the invitation to take part.RESULTSSenior Football.St Nauls 2-08 Mac Cumhaills 3-15Reserve FootballSt Nauls 2-08 Mac Cumhaills 4-13Third Team.Mac Cumhaills 4-02 Pettigoe 0-08A good weekend for all the adult teams. Impressive displays from Marty O Reilly and David White in their respective matches. Well done lads.FIXTURESSenior/ Reserve Football.Home to Glenfin Sunday 15th June 1.30/ 3.00 pm throw in.Third Team.Away to Glenswilly Sat 14th 7.30pm throw in.UNDER 10 FOOTBALLWell done to all the Under 10’s who played at the weekend. We had 4 teams out again. The Green teams traveled to Castlefin for their matches were they had good wins against Robert Emmetts and St Marys Convoy. The White team made the trip to Buncrana were they played in atrocious weather. They had good results against Glenswilly, Buncrana and Red Hughes. Many thanks to Robert Emmetts and Buncrana for the games and food afterwards.BINGOThe Bingo is on in the Villa Rose hotel this week. All very welcome. GAA NEWS: MAC CUMHAILLS LOTTO JACKPOT NOW AT €10,000 was last modified: June 9th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:GAAMac CumhaillsNoticesSport
AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREBlues bury Kings early with four first-period goals “Ed was always there to listen and open his arms to all walks of people and help them,” said Brockovich, who goes by Brockovich-Ellis, lives in Agoura Hills and still works for the Masry and Vititoe law firm in Westlake Village. She said she was with Masry the night he died and plans to attend both memorial services. “I’m going to miss him so much. … I can’t express my appreciation,” she said. “He wanted all people to know that they had a friend. He held up so much on his shoulders but he enjoyed opening his heart and his being to other people.” Masry’s family asked that memorial contributions be made to the American Diabetes Association, www.diabetes.org; or the National Kidney Foundation, www.kidney.org. THOUSAND OAKS – A private memorial service will be held Tuesday for attorney and former Thousand Oaks Mayor Edward Masry, and a public tribute will take place in January. The public event is set for 6 p.m. Jan. 5 at the Fred Kavli Theater in the Thousand Oaks Civic Arts Plaza, 2100 Thousand Oaks Blvd. Masry 73, died Monday of complications of diabetes. He and his self-trained legal assistant, Erin Brockovich, became famous for winning a $333 million settlement for more than 600 residents of Hinkley, Calif., a saga showcased in the Academy Award-winning movie “Erin Brockovich.” 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
IS it you?Someone out there has a €258,528 winning lotto ticket – and hasn’t claimed it.The winning ticket was an €8 quick pick and was bought at Robert Kee Eurospar in Laghey on Sunday, July 28 for the EuroMillions draw on Tuesday, July 30. But so far no-one has come forward to claim the prize!So search the sofa, wreck the car, empty that handbag or wallet – it could be YOU!Shopkeeper Desmond Kee said: “It’s a lovely sum of money and I do hope whoever won it comes forward.” IS IT YOU? €250,000 LOTTO TICKET BOUGHT IN DONEGAL STILL NOT CLAIMED! was last modified: August 14th, 2013 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:000 LOTTO TICKET BOUGHT IN DONEGAL STILL NOT CLAIMED!IS IT YOU? €250
Steve Sidwell’s 19th-minute goal gave underdogs Fulham a shock lead against the champions.The Whites got men behind the ball and defended well before scoring with their first attack of the match.Lewis Holtby chipped the ball forward and Sidwell sneaked in unmarked to fire home from 10 yards.Robin van Persie then missed a great chance to equalise for Manchester United when he blazed over after being found by Rafael’s right-wing cross.Former United coach Rene Meulensteen selected a surprising line-up on his return to Old Trafford.The Fulham boss, whose side are bottom of the Premier League, opted for Muamer Tankovic. 18, as a lone striker, with Holtby supporting the Swedish youngster from midfield.Record signing Kostas Mitroglou was not in the matchday squad but deadline day arrival Johnny Heitinga is making his debut and Ryan Tunnicliffe, recently signed from United, was also given a starting place.Sidwell is captaining the side, with Scott Parker and Brede Hangeland both among Meulensteen’s substitutes.Manchester United: De Gea, Rafael, Smalling, Vidic, Evra; Mata, Carrick, Fletcher, Young; Rooney, van Persie.Subs: Lindegaard, Ferdinand, Giggs, Valencia, Kagawa, Januzaj, Hernandez.Fulham: Stekelenburg; Riether, Burn, Heitinga, Riise; Tunnicliffe, Sidwell, Kvist, Richardson; Holtby, Tankovic.Subs: Stockdale, Hangeland, Kacaniklic, Duff, Cole, Parker, Bent.Follow West London Sport on TwitterFind us on Facebook