Hotelest Limited (HTLS.mu) listed on the Stock Exchange of Mauritius under the Tourism sector has released it’s 2017 interim results for the first quarter.For more information about Hotelest Limited (HTLS.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Hotelest Limited (HTLS.mu) company page on AfricanFinancials.Document: Hotelest Limited (HTLS.mu) 2017 interim results for the first quarter.Company ProfileHotelest Limited is based in Port Louis, Mauritius and is engaged in the tourism and hospitality industry where, through the company’s subsidiary, Constance Hotels Services Limited, owns and operates hotels. Hotelest Limited is listed on the Stock Exchange of Mauritius.
Academy Press Plc (ACADEM.ng) listed on the Nigerian Stock Exchange under the Printing & Publishing sector has released it’s 2017 annual report.For more information about Academy Press Plc (ACADEM.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Academy Press Plc (ACADEM.ng) company page on AfricanFinancials.Document: Academy Press Plc (ACADEM.ng) 2017 annual report.Company ProfileAcademy Press Plc is an established printing company in Nigeria offering services for the printing of labels, calendars, company annual reports, books, magazines and marketing material. The company offers additional printing related services which include supply of graphic material, layout design, typesetting, artwork, photography, colour separation and binding. The Commercial printing division produces calendars, annual reports, labels, insertions, posters, handbills, invoices, waybills, deposit/withdrawal forms, account opening forms, receipts and point of sales material. Periodicals printed by Academy Press include magazines, journals, reports and seminar papers. Publications printed include educational and religious books, biographies, maps and diaries. Computer stationary printed includes listing papers, customer statements, utility bills and pay slips. Academy Press has two major subsidiaries; Academy Press Specialised Print Services, which prints documents with high security risks such as tickets, coupons, vouchers, letterheads, receipts, invoices and continuous forms for computer usage as well as bank statements, pay-in slips and bank notes; West African Book Publishers (WABP) prints high-end publications for the discerning reader. The company has offices in Lagos and Abuja in Nigeria and in Accra in Ghana. Academy Press Plc is listed on the Nigerian Stock Exchange
These shares have cut their dividends but I think they could come back stronger Andy Ross | Monday, 29th June, 2020 | More on: AV BT-A LLOY “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! It’s clear investors face challenges when it comes to getting dividends. About half of the FTSE 100’s companies have now cut or suspended shareholder rewards. However, despite the doom and gloom, I think these three shares could come back stronger once conditions return to a more normal state.A banking share forced to cut its dividendsThe first is Lloyds (LSE: LLOY). The share price has fallen nearly 50% over the last six months alone. The shares are now lower than they were five years ago. But the mandated, or strongly encouraged, suspension of bank dividends during the crisis could help Lloyds further strengthen its balance sheet. It already has a tight control on costs and has further scope for digitisation. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…The dividend suspension could also help it to partially offset the expected uptick in bad loans that will result from customers losing jobs and generally being less financially secure.Overall, I think the shares, on a P/E of nine, look too cheap to ignore right now. Yes, interest rates are very low and it’s a difficult time for banks. But I expect Lloyds, with its low costs and relatively simple business model, to come back stronger post-Covid-19.Room for improvement at this FTSE 100 giant Aviva (LSE: AV) is another share that has potential in the long term. The shares are dirt-cheap on a P/E of only a little more than four. Management also took the decision to cut the dividend, which will free up a lot of cash for the group.Again, the operating environment is difficult for Aviva. Back in May it said it expected to pay a net £160m of claims related to the coronavirus shutdown with the majority of payments being in business interruption, travel insurance and commercial lines.The UK’s biggest insurer said the crisis posed challenges to meeting its 2022 targets, warning that second-quarter sales had already been hit.UK insurers have also been ordered to offer payment holidays to customers. It’s clear that regulators are applying a lot of pressure to companies like Aviva and it’s unclear when things might improve.Yet for all these downsides, I do think Aviva can bounce back. Over the long term, I think the business can be made leaner and grow in annuities like rival Legal & General is doing.A riskier FTSE 100 shareMy third share is a more risky one and it’s BT (LSE: BT). It has suspended its dividend for the first time since its 1984 privatisation. The cut was far from unexpected though.It could be argued that management had already tried to delay a cut for too long. Now coronavirus has given it a clear excuse to suspend the dividend. I’m optimistic about the shares because the dividend frees up cash for BT to invest. It should also give it a little more leeway with the regulator, with which, under the previous CEO, it was locking horns.I do expect BT shares to come back stronger. I’m reassured that the professional investors at Merchants Trust think the situation in the telecoms industry is improving. They bought shares back in March, which I think is a good sign. Andy Ross owns shares in Lloyds Banking Group, Merchants Trust and Legal & General. The Motley Fool UK has recommended Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. See all posts by Andy Ross
Why I think the BAE share price is a steal Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Our 6 ‘Best Buys Now’ Shares Enter Your Email Address Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. See all posts by Tom Rodgers “This Stock Could Be Like Buying Amazon in 1997” The BAE Systems (LSE:BA) share price is now 28% cheaper than its 2020 peak. And I think the FTSE 100 stalwart could offer me remarkable long-term value at these levels. Let me tell you why. Demand for BAE products remains extremely strong. Given BAE’s size and strength, its sales numbers are mind-bogglingly high. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…On 12 November 2020 for example, BAE announced it had won a £1.2bn contract to engineer components for 38 Eurofighter Typhoon combat aircraft for the German Air Force. Military intelligenceAs well as being a reliable income stream to bolster the BAE share price long term, the military is an important sector because world governments are continually innovating and upgrading their systems. This only allows BAE to sell products consistently year after year. It also means that BAE is able to re-engineer battlefield tech to develop new product lines. Let’s take drones, for example. BAE’s unmanned aerial vehicles were first developed as combat systems with a £185m investment in 2013. That produced the Rolls-Royce engine-powered Taranis drone.Out of that innovation today we have the BAE Systems PHASA-35, an aerial craft that flies in the upper reaches of the earth’s atmosphere and can be used to boost communications networks, help beam 5G to the ground, or aid disaster relief efforts worldwide.It’s not very snappily named, but it is an impressive piece of kit. With a 35-metre wingspan and a solar-powered electric engine, the PHASA-35 can remain in flight for 12 months at a time. And it might sound like sci-fi, but as the BBC reported in November, Germany plans 5G drone trials by 2024.BAE share price futureThe BAE share price is trading at a particularly cheap P/E ratio of 10.3, well below the FTSE 100 average. So now could be a great time for me to buy in for the long term.The company also offers a plump 5% dividend yield, which I really like. I wrote almost exactly 12 months ago that the BAE share price represented the best of UK defence prospects. While the shares have dipped 10% from that point in time, my view has not altered one iota. That’s because the future looks strong. The $2bn buyup of Raytheon’s Airbone Tactical Radios division gives BAE more chance to expand its US division. And the US is one of the world’s largest military spenders. Flying aheadMore than half of the FTSE 100 delayed dividends in the face of Covid-19. And the BAE share price was hit when the defence giant did the same in April. But I saw this as a prudent cost-control measure with all the uncertainty around.However, defence contractors qualified as key workers throughout the pandemic. So orders still flowed throughout the period and factories continued operating. And I believe BAE has seen off the worst of the disruption. A November trading update revealed underlying earnings per share were better than expected. “Demand for our capabilities remains high with order intake ahead of our original pre-Covid planning,” the company noted. So it was no surprise to me when 2019’s 13.8p final dividend returned in full in September. CEO Dr Charles Woodburn also raised the 2020 interim dividend by 4.4% to 9.4p per share. This is due to be paid on 30 November. In an uncertain world, an investment in BAE is an increasingly attractive and sensible option, in my view. It’s on my watch list. Tom Rodgers | Friday, 13th November, 2020 | More on: BA Image source: BAE Systems Simply click below to discover how you can take advantage of this. TomRodgers has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.
Can’t get to the shops? You can download the digital edition of Rugby World straight to your tablet or subscribe to the print edition to get the magazine delivered to your door.Follow Rugby World on Facebook, Instagram and Twitter. Tendai Mtawarira on facing the British & Irish LionsTendai ‘Beast’ Mtawarira will go down in history as one of the most accomplished players of the professional era. Last year, the South Africa prop retired after winning a British & Irish Lions series, a Tri-Nations, a Rugby Championship and a World Cup over the course of an 11-year stint with the Springboks.Fans in the northern hemisphere may remember Mtawarira as the destroyer of English tightheads. He powered through Dan Cole in the 2019 World Cup final to give his forwards an edge and set the tone for a famous South African victory.Ten years earlier, he out-scrummaged the more fancied Phil Vickery to help the Boks win the set-pieces and ultimately a crucial first Test against the Lions.“It felt surreal running out onto that field to face the fabled Lions,” Mtawarira says. “I was desperate to make a mark as one of the youngest guys in the Bok team.“A lot was said in the media before the first Test about how they wanted to destroy us in the scrum. They saw that John Smit (the Springbok captain, who played most of his career at hooker) was starting at tighthead and that a young, relatively unknown player in myself was starting at loosehead. They thought they saw an opportunity – and ultimately they underestimated us.“And you know what? We took it personally,” Mtawarira adds, before breaking into one of his booming laughs.“I remember sitting there in the change room before the game. The front-rowers were getting fired up. Bismarck du Plessis told me that this was my moment to shine.“The training that week had been so intense, especially around the scrums and collisions. We were going out there to be as physical as possible. By the time that first whistle blew at Kings Park, I was ready to get stuck in. I unleashed the beast, so to speak, from the very first collision.”Head to head: Tendai Mtawarira prepares to pack down against Phil Vickery in the first Test (Getty Images)Mtawarira reveals that the plan was to go after Vickery at the scrum from the outset. The Boks felt that Vickery was the key to the tourists’ set-piece success. If they could nullify the tighthead, they could control the contest.“We’d done out homework on Vickery. He went into that series as pretty much the best tighthead on the planet. We knew we’d be in trouble at the scrum if he was allowed to settle and to get into a strong position to win the hit.“So we looked to disrupt him. I got a strong bind and used everything I had to get under him. While I was going after Vickery, Bismarck did his best to block the other front-rowers from lending Vickery assistance on that side.“We really surprised them as a unit. We did that at the first scrum, and at the second. We did it again, and again. They had no response. We grew in confidence as the contest progressed and the rest, as they say, is history.”Gary Gold – the current USA head coach – served as the Springbok forwards coach between 2008 and 2011. He still gets goosebumps when he’s asked to talk about the day that Mtawarira took down an England legend at Kings Park.“I’ve been coaching for more than 20 years. In all that time, I haven’t witnessed a bigger game-changing moment than when Beast destroyed Vickery in that first Test,” says Gold. Thumbs up: Tendai Mtawarira celebrates South Africa’s series victory over the Lions in 2009 (Getty Images) The World Cup-winning Springbok prop reflects on the 2009 series with Jon Cardinelli – and offers his travel tips for visiting fans LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS “He set the tone for us at the scrum and that went a long way towards winning the game. Vickery was subbed early in the second half. It was a massive win within a win, and we rode the momentum into the next match to clinch the series.“I can’t remember who was named the official Man of the Series, but for me Beast was right up there.”The countdown to the next instalment of this epic battle has begun. For the third time in the professional era, the Boks will go into a Lions series as world champions. The side from the north will be keen to prove a point.While it remains to be seen who will come out on top, a special level of intensity, says Mtawarira, will be guaranteed.“I grew up in Zimbabwe watching South African rugby and the Super Rugby tournament in particular,” he says. “When the Lions toured in 1997, I watched the games closely. Back then, I had my heart set on becoming a loose forward. Gary Teichmann and Bob Skinstad were my heroes.“What struck me about the matches between South Africa and the Lions was the brutality of it all. It seemed to be on another level to anything else in rugby.“Scott Gibbs ran over Os du Randt at one point in that series. It was something I struggled to process: a centre running over a loosehead prop! So that’s how the Lions were built up in my mind from a young age, and why I had so much respect for them going into the 2009 series.”The big man still follows the local game closely. Prior to lockdown, he attended Super Rugby games at Kings Park to support the Sharks – a team he represented for the duration of his professional career.“I can’t wait to see the Sharks tackle the Lions at Kings Park,” he says of the tour fixture scheduled for 10 July 2021. “That’s still a few months away, and already there’s a big buzz about it at home and up north. It’s going to be truly special.”Tendai Mtawarira’s South Africa travel tips for Lions fans“Nothing beats a day out at one of the beaches on the East Coast,” says Mtawarira, a long-time Durban resident and a father of two.“My favourite spot is out at Ballito (50km north of Durban). I often take the kids and the dogs out there for some fun in the sand and waves.FIND OUT ABOUT THE LIONS RUGBY TRAVEL PACKAGES FOR THE 2021 TOUR“The weather is warm the year round in this part of the world. I’m sure that the tourists will take advantage when the Lions come to town. Closer to home, the Umhlanga area boasts golden beaches as well as a number of bars where one can enjoy a cold one after a long, warm day.“There’s plenty to do around Kings Park. Adrenaline junkies will love the Big Swing at Moses Mabhida Stadium across the road. We often go to uShaka Marine World on the beachfront. There are a number of water activities for the kids as well as a world-class aquarium.”
ArchDaily Tappen / Joliark CopyAbout this officeJoliarkOfficeFollowProductsGlassSteelConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingStockholmHousingResidentialSwedenPublished on January 24, 2015Cite: “Tappen / Joliark” 24 Jan 2015. ArchDaily. Accessed 11 Jun 2021.
ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/599884/stone-house-chrofi Clipboard “COPY” CopyHouses•Tarro, Australia Structural Engineer: Projects DW Knox & Partners Save this picture!© Brett Boardman+ 18 Share Save this picture!© Brett BoardmanText description provided by the architects. Stone House is the alteration to a single storey vernacular house in the rural landscape setting of northern NSW Australia. The original house was built with local materials and craftsmanship. Over the years various additions were made to the house exhibiting the different layers in its occupation.Save this picture!© Brett BoardmanRecommended ProductsDoorsJansenDoors – Folding and SlidingWoodGustafsWood Veneered Wall & Ceiling PanelsMetallicsTECU®Copper Surface – Classic CoatedEnclosures / Double Skin FacadesFranken-SchotterFacade System – LINEAThe brief was to renovate the house within a limited budget whilst offering better living arrangements for a humble complementary house for guests to stay near by rather than loading the main site with accommodation.Save this picture!Exploded IsometricOur proposal was to reinstate value with little intervention; with this in mind we had two design strategies.Save this picture!© Brett BoardmanOne was the idea of preservation; wherever possible elements of the building fabric would be salvaged but only to reveal its qualities in a meaningful way. We identified four building elements worth preserving. The stone wall was providing protection and privacy from the main road. The internal masonry walls were defining rooms at the rear of the house. The expressed timber ceiling provided a unifying canvas within the whole house. The concrete floor offered a calming palette to the house.Save this picture!© Brett BoardmanSecond was the idea of addition. Given the budget limitations, the additions had to be singular and multifunctional. A ‘breathable’ facade frame was the response. The frame was inserted along the whole length of the building. The new facade had a number of uses. It allowed supporting the roof rafters along the length of the building hence both creating a open plan arrangement that would enjoy the beautiful district views as well as enabling a strong connection to the extensive backyard.Save this picture!Floor PlanThe new facade is composed of glazed sliding doors fitted with flyscreens to mitigate the impact of insects very common in this sub-tropical climate. Lastly, a set of retractable slatted blinds was integrated to provide both shade from the afternoon sun and security during unattended seasons.Save this picture!© Brett BoardmanStone House combines these two design ideas into a simple calming palette; within the house all walls and floors were kept to neutral tones to reveal the exposed timber rafters as the only feature of the interior. The shell of the house merges the existing stone work with the new ‘frame’ creating a whole new and most importantly a clear relationship to the landscape beyond.Save this picture!SectionProject gallerySee allShow lessUNESCO Reveals Winning Scheme For The Bamiyan Cultural Centre In AfghanistanCompetition ResultsHow Aluminum Composite Materials Have Evolved To Meet Strict Building StandardsMisc Share “COPY” ArchDaily Architects: CHROFI Area Area of this architecture project Area: 160 m² Area: 160 m² Photographs Cedar Creek Constructions Builder: Australia photographs: Brett BoardmanPhotographs: Brett Boardman Stone House / CHROFISave this projectSaveStone House / CHROFI CopyAbout this officeCHROFIOfficeFollowProductsWoodSteelStone#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesTarroHousesAustraliaPublished on February 19, 2015Cite: “Stone House / CHROFI” 19 Feb 2015. ArchDaily. Accessed 11 Jun 2021.
AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 3 March 2000 | News Tagged with: Digital Individual giving Research / statistics The Mozambique appeal has already raised over £3 million.Last night’s TV appeal by Bob Hoskins for the Disasters Emergency Committee’s appeal for Mozambique has generated over £3m from 92,000 callers in just five hours. Read Cash pours in for floods appeal at BBC Online.The Disasters Emergency Committee is once again accepting donations online [The appeal closed on 18 April 2000]. Advertisement 29 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis DEC launches Mozambique emergency appeal About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.
Tagged with: Awards Funding Howard Lake | 7 April 2009 | News 21 total views, 2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis £43,000 Andy Ludlow Awards 2009 open for entries The Andy Ludlow Homelessness Awards 2009 are now open. Organisations tackling homelessness in London now have a chance of winning a share of £43,000, nearly double last year’s prize money.Run by London Councils, the Awards are designed to recognise projects that improve services to homeless people, prevent homelessness, or tackle disadvantage caused by homelessness.They are open to registered social landlords, borough housing and social service departments, NHS trusts and voluntary organisations across the capital.The winner will receive £20,000, with £10,000 going to two runners-up and a further £1,000 going to the remaining three shortlisted projects.This is the 11th year that the Awards have been run. They are funded by all 33 London authorities together with sponsorship from Communities and Local Government, the London Housing Foundation, and Shelter.The Awards were established in 1998 in memory of Andy Ludlow, former director of Housing and Social Services in the London Borough of Haringey.Last year’s winner was Streetwise Opera, a charity working to improve the lives of the capital’s homeless people through music.The closing date for entries is 20 May 2009.www.londoncouncils.gov.uk/ludlow About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.
Philadelphia: March 16 protest against Santander Bank’s role in Puerto Rico’s extreme fiscal crisis.Santander Bank of Spain is deeply implicated in the current Puerto Rican economic crisis. On March 16, several activists from the Philadelphia-Camden Boricua Committee picketed the bank’s Erie Street branch in Philadelphia to hold Santander accountable. Protesters handed out fliers with the following key points on “Why Santander Bank owes reparations to the Puerto Rican people?” (Some points below from the activists’ information sheet were lightly edited.)Why can’t Puerto Rico fix the problem? As a “territory” of the U.S., Puerto Rico is actually a colony with absolutely no sovereignty in any aspect — political, social, economic or trade. Therefore, it cannot restructure its debt! Everything the Puerto Rican government dictates can be dismissed by the U.S. Congress.Current situation in Puerto Rico: Puerto Rico is immersed in the worst economic and social crisis in its history. There is a “public” debt of over $73 billion that the government cannot pay because of a stagnant economy. Most of this illegitimate debt has been caused by municipal bonds that ambitious bondholders, like hedge fund firms from Wall Street, bought because the resulting huge profits (sometimes more than 700 percent of original value) were triple tax-exempt. Now these wealthy vultures want to get their promised profits by squeezing the working people of Puerto Rico, where poverty and hunger have increased because of the debt crisis.On the island, 58 percent of children below the age of 18 live in poverty, and one out of every four people suffers from hunger or food insecurity. An average of 3,000 people — mostly youth — migrate every month to the U.S. because of the lack of employment. The island Puerto Rican population is decreasing while U.S. billionaires move there to take advantage of tax-exempt laws. Puerto Rico is becoming a paradise for the U.S. rich, and the native population will become their servants. (U.S. Census Bureau 2009-10, Department of Agriculture)To “fix” the lack of payment [of debt] by the Puerto Rican government, the U.S. Congress enacted the PROMESA law to impose a fiscal control board to act as a collection agency to pay bondholders. This board met March 13 to discus a fiscal plan for Puerto Rico. The resulting austerity plan will be the destruction of Puerto Rico and its people. Among the measures are a 20 percent reduction in workdays, a 10 percent reduction in pensions, cuts to the public University of Puerto Rico’s budget, cuts to health care, school closings, etc.Complicity of banks like Santander: Two of the fiscal control board members were not only executives of Santander Bank, but also presidents of the Development Bank of Puerto Rico, the entity that manages the government’s budget and bonds. These men, Carlos M. Garcia and José Ramón González, “built Santander Securities, the bank’s municipal bond business, which established itself as a leading bond underwriter coinciding with the growth in Puerto Rican public debt. This business brought in substantial fee income for the bank. … GDB [the Government Development Bank of Puerto Rico] became increasingly reliant on questionable financial engineering techniques. … Santander helped the Commonwealth [of Puerto Rico, i.e., the government] issue risky debt deals that relied on controversial features. These generated more fee income for Santander’s underwriting business.” (tinyurl.com/lx7kq9s)Puerto Rico’s economy has been developed to satisfy U.S. corporations’ interests. The only status that can help Puerto Rico become sovereign and build its future on behalf of its people is as an independent republic. That is why the U.S. has always persecuted and repressed the people who defended independence for Puerto Rico and [tried to] make people believe that Puerto Rico can survive only with the “protection” of the U.S. But facts are there to see: After a century of U.S. intervention and occupation, Puerto Rico is worse off than ever and its people are in deep poverty!FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this