Tag Archiv: Nyah

Fairfax Financial sells large stake in Reitmans for about 22 million

TORONTO — Fairfax Financial Holdings Ltd. says it has sold its stake in clothing retailer Reitmans Ltd. for about $22.2 million.Toronto-based Fairfax, led by investor Prem Watsa, says it sold nearly 7.4 million Class A non-voting shares representing about 14.8 per cent of outstanding shares for $3 each.The sale is the result of a substantial issuer bid by Reitmans announced in June to purchase for cancellation of up to 15 million outstanding shares.It comes nearly six years after Fairfax increased its stake by acquiring two million shares for $6.35 per share, that increased its total holdings to almost 7.1 million shares.Montreal-based Reitmans is a ladies-wear apparel retailer founded in 1926 that operated 594 stores in Canada under the Reitmans, Penningtons, 80 Addition Elle, RW & Co. and Thyme Maternity banners.It has been closing stores as it adjusts to competition from U.S. retailers that has hurt sales while increasing its e-commerce business.Reitmans shares, which have fallen from $20 in 2010, gained 3.3 per cent to $2.79 in Wednesday trading on the Toronto Stock Exchange. Companies in this story: (TSX:RET.A)The Canadian Press read more

1164 work permits issued in 2016 Felix

Minister of Citizenship, Winston Felix who has direct responsibilities for the Department of Citizenship within the Ministry of Presidency (MOTP) told the Department of Public Information/Government Information Agency (DPI/GINA)  that there are ten countries that citizens routinely apply for work permits in Guyana.Minister of Citizenship, Winston Felix“For the pass year we issued one thousand one hundred and sixty-four (1,164) work permits to nationals from 10 countries; Chinese, Americans, Cubans, Indians, British, Trinidadians, Canadians, Venezuelans, Jamaicans and Brazilians. Those are the top ten”, Minister Felix explained.Felix said that as much as Guyana is lacking certain human resources, an orderly migration process for these citizens is a priority for the department.The minister added that marriage and Guyanese whose children are born out of Guyana are some of the leading areas for citizenship applications in Guyana.“We have two hundred and thirty-six (236) foreign nationals who have obtained Guyanese citizenship. Some by marriage and some by ordinary residency, meaning those that have been living in Guyana for the prescribed period,” Minister Felix added.Between 2012 and 2014, Guyana issued just over two thousand three hundred work permits, with Brazilian workers receiving 2147 (two thousand one hundred and forty-seven) of the total.Felix says while the David Granger Administration intends to accommodate foreign investment, it would not do so at the expense of Guyanese workers. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedHomestead settlement being established for Venezuelan migrants- FelixJuly 30, 2018In “latest news”Guyanese burdening immigration system by overstaying- FelixMarch 8, 2017In “latest news”Citizenship Ministry granting temporary amnesty to illegal foreign nationalsFebruary 21, 2018In “Business” read more