Tag Archiv: Maahier

Morocco assumes rotating presidency of UfM parliamentary assembly

Lisbon- Morocco assumed, on Tuesday in Lisbon, After Portugal, the rotating presidency of the parliamentary assembly of the Union for the Mediterranean (UfM) for a one year mandate.The rotating presidency was entrusted to Morocco following the 11th plenary session of the assembly held under the theme “Immigration, Asylum and Human Right in the Euro-Mediterranean Region” and which was attended by MPs from over 40 UfM member states.Speaking on this occasion, speaker of the house of representatives Rachid Talbi Alami lauded the success of the 11th plenary session of the assembly which offered the occasion to debate challenges facing the Mediterranean zone. He also praised the mobilization of all UfM parliaments which attended this session and their support for the Union’s action to serve stability and peace in the region.Morocco was also represented in this session by speaker of the house of advisors Mohamed Sheikh Biadillah and a delegation representing the members of the two houses. read more

Burundi Security Council calls on rebels to take serious approach to peace

The Council President, Ambassador Stefan Tafrov of Bulgaria, said in a press statement that the 15-member body deplored the continuing conflict, and firmly condemned the massacres that were committed in the Gitega region.”They expressed grave concern about the continuation of hostilities in [Burundi], as a result of the obstinate refusal of the rebel groups to negotiate,” Ambassador Tafrov said. Council members “call on the rebels to seize this opportunity to achieve a negotiated settlement to the conflict, within the framework of the Arusha process.” The rebels were also called on to demonstrate good faith and the will to achieve an agreement by taking a serious approach to the negotiations.The statement also reiterated the members’ full support for the mediation efforts of South African Vice-President Jacob Zuma and President Omar Bongo of Gabon, as well as efforts by Tanzania, to achieve an end to the fighting. “They hope that the cycle of negotiations starting today at Dar es Salaam, under the chairmanship of Mr. Zuma, will finally lead to an agreement,” Ambassador Tafrov said.Council members recalled the need for increased mobilization of the donor community so that past commitments were respected, according to the statement, which called this funding an essential condition for the success of the ongoing peace process.The members also stressed the need for emergency budgetary assistance for the transitional Government in Burundi so as to enable it to cope with the exceptional situation it was currently experiencing, Ambassador Tafrov added.In a private meeting yesterday, Council members heard a briefing by Therence Sinunguruza, the Minister for Foreign Affairs of Burundi. read more

TSX advances solid earnings from Suncor Energy raise expectations for sector

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TSX advances, solid earnings from Suncor Energy raise expectations for sector by Malcolm Morrison, The Canadian Press Posted Apr 29, 2014 6:21 am MDT The Toronto Stock Exchange Broadcast Centre is shown in Toronto on June 28, 2013. THE CANADIAN PRESS/Aaron Vincent Elkaim TORONTO – The Toronto stock market closed higher Tuesday as a strong earnings report from oilsands giant Suncor Energy (TSX:SU) raised expectations for other energy companies reporting this week.The S&P/TSX composite index climbed 52.2 points to close at 14,583.11.Suncor posted operating earnings of $1.79 billion, or $1.22 per share, widely beating the average analyst expectation of 93 cents and its shares were up 3.05 per cent to $42.60.The Canadian dollar was up 0.62 of a cent to 91.32 cents US.A better than expected earnings season pushed New York’s Dow Jones industrials up 86.63 points to 16,535.37.The Nasdaq gained 29.14 points to 4,103.54 and the S&P 500 index climbed 8.9 points to 1,878.33.After the close, social network company Twitter reported earnings per share, ex-items, showing it broke even, better than the three cent a share loss that had been expected. Revenue of $250 million beat expectations of $241 million but its shares fell about nine per cent in after hours trading, giving back Tuesday’s advance of 4.64 per cent, amid a slightly weakerthan expected revenue forecast.U.S. corporate earnings are currently expected to grow by 1.4 per cent in the period, compared with growth of 5.2 percent in the same period as a year earlier. Two weeks ago, companies were expected to report a decline in earnings.Investors also looked to the U.S. Federal Reserve, which wraps up its two-day meeting Wednesday. Policy-makers are expected to further trim the central bank’s bond-buying program and provide further insight into the state of the world’s biggest economy.Traders will also look for further indications of when the Fed might start to raise short-term interest rates, which have been near zero since the financial crisis.Suncor’s performance helped send the energy sector up 1.6 per cent as June crude in New York rose 44 cents to US$101.28 a barrel.Traders will be taking in earnings from other heavy hitters in the sector this week, including Cenovus (TSX:CVE), Imperial Oil (TSX:IMO) and Canadian Natural Resources (TSX:CNQ) amid a sharp change in the fortunes for these companies.One of the improvements revolves around a sharp narrowing in the price between oilsands crude, known as Western Canadian Select, and West Texas Intermediate, a lighter crude used as the U.S. benchmark.“That narrowing has gone from roughly $31 at the end of the fourth quarter last year to $21, so that’s a 33 per cent improvement right there,” observed John Stephenson, portfolio manager at First Asset Funds.He also pointed out that the Canadian dollar weakened in the quarter.“So you have an industry where you’re getting revenues in U.S. dollars and paying expenses in the lower Canadian currency, so you’re making a spread there. And there’s a record number of deals and activity happening in the oilsands year to date.”July copper was down two cents to US$3.07 a pound and the base metals sector rose 1.13 per cent.Gold faded $2.70 to US$1,296.30 an ounce and the sector was up about one per cent.In other corporate developments, Quebecor Inc. (TSX:QBR.B) shares were 62 cents lower to $26 with the announcement that its president and chief executive is retiring. Robert Depatie, who was promoted to the post last May when Pierre Karl Peladeau stepped down, announced Monday that he was retiring for health reasons. read more