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Posts Tagged ‘delay’

Authorities in Haiti delay final vote results

In Uncategorized on December 20, 2010 at 6:28 am

PORT-AU-PRINCE, Dec 19, 2010 (AFP) – Electoral authorities in Haiti announced late Sunday they had decided to delay publication of final presidential election results until the Organization of American States finishes its probe of the controversial vote.

The results were initially expected on Monday, but the Haitian Election Council said it had decided to “postpone publication of the results of the first round of voting until the contentious phase of the electoral process is over and an OAS mission requested by President Rene Preval finishes its work.”

Haiti’s chaotic election was carried out last month amid widespread allegations of fraud and the disenfranchisement of thousands of people, who either couldn’t get the necessary papers to vote or weren’t on the register.

Preval has asked the OAS to assist Haitian authorities in verifying the results of the vote.

Preliminary results of the first round of balloting have placed opposition candidate Mirlande Manigat in the lead with 31 percent of the vote. She is followed by ruling party candidate Jude Celestin who had 22 percent.

Source: SGGP

Tropical storm set to delay Gulf oil fix

In Uncategorized on July 23, 2010 at 3:17 am

NEW ORLEANS, Louisiana (AFP) – A tropical storm barreling towards the Gulf of Mexico has forced the evacuation of ships, personnel and a key drilling rig, prolonging the region’s three-month environmental and economic nightmare.

“Due to the risk that Tropical Storm Bonnie poses to the safety of the nearly 2,000 people responding to the BP oil spill at the well site, many of the vessels and rigs will be preparing to move out of harm’s way beginning tonight,” US oil spill chief Admiral Thad Allen announced.

“This includes the rig drilling the relief well that will ultimately kill the well, as well as other vessels needed for containment. Some of the vessels may be able to remain on site, but we will err on the side of safety.”

Officials have said the evacuation of the drilling rig will lead to a delay of up to 12 days in the final operation to plug BP’s runaway well, but Allen sought to play down those concerns.

“While these actions may delay the effort to kill the well for several days, the safety of the individuals at the well site is our highest concern,” he said.

“We are staging our skimming vessels and other assets in a manner that will allow us to promptly re-start oil mitigation efforts as soon as the storm passes and we can ensure the safety of our personnel.”

Allen decided the cap holding back the torrent of crude for the past week would stay on, providing some respite for those in the Gulf region struggling to cope with the huge economic impact of the disaster.

NASA handout image shows the oil slick (centre) caused by the BP Gulf of Mexico oil spill. AFP/NASA file

There had been fears the cap would have to be opened up or even removed because nobody would be on site to monitor any pressure anomalies in the well or oil seepage on the sea floor.

But Allen said he had ordered BP to make sure their remotely operated vehicles (ROV’s) which do the crucial monitoring for oil leaks and other anomalies are the last to leave when the storm arrives.

“As I stated earlier today, I have directed BP to continue with the well shut in procedure while the work to kill the well is temporarily suspended,” he said.

“I have also directed BP to take measures to ensure the vessels operating the ROV’s are the last to leave, and the first to return in order to maximize monitoring of the well.”

Latest forecasts show the storm hitting the area on Saturday morning and likely to pass by early Sunday.

Crucial work to concrete in the casing on the relief well will now be postponed until the giant drilling rig can return.

After that sets, a process expected to take up to a week, officials hope to perform a “static kill” to plug the well by injecting heavy drilling mud and cement through the cap at the top.

The final operation to cement the reservoir once and for all through the relief well would be expected five to seven days after that.

The evacuation was a huge blow for local residents who already see efforts to choke off the well as too little too late, with hundreds of miles of coastline already fouled.

The five US states along the Gulf of Mexico could lose 22.7 billion dollars in tourist revenue over the next three years because of the spill, a study showed Thursday.

A vast swath of the Gulf has also been closed to commercial and sport fishing since the BP-leased Deepwater Horizon rig sank on April 22, two days after an explosion that killed 11 workers.

But US officials reopened Thursday one third of those fishing grounds after no oil was seen in the area for 30 days and tests revealed the fish there were not being polluted.

Oil industry jobs in the region were also hit by President Barack Obama’s decision to impose a moratorium on new deepsea drilling — a move fiercely opposed by local leaders.

If an upper estimate of over four million barrels is confirmed, what is considered one of America’s worst ever environmental disasters would also be the biggest accidental oil spill ever.

After three frustrating months marked by several botched attempts to contain the leak, BP finally sealed the well with its new cap last Thursday and no significant amount of oil has entered the sea since.

Source: SGGP

Australia’s Qantas lets passengers delay flights to Thailand

In Uncategorized on May 18, 2010 at 9:06 am

SYDNEY, May 18, 2010 (AFP) – Australia’s Qantas Airways on Tuesday let passengers delay trips to Thailand or bypass the country without penalty as deadly violence escalates in the capital Bangkok.

The airline made the offer “due to continued civil unrest/political tensions in Thailand”, a statement on its website ( said.

Armed soldiers stand behind barbed wire after they restricted access to an area on the fringes of the anti-government protest site in downtown Bangkok on May 18, 2010. AFP photo

Passengers who have already bought tickets can defer trips in and out of the country, bypass Thailand as a stopover port and even change destinations at no extra charge, Qantas said.

Thirty-eight people have been killed and 279 wounded over the past five days as political clashes turn parts of central Bangkok into a war zone.

Source: SGGP

Taliban could benefit from Afghan vote delay: US

In World on September 11, 2009 at 5:45 pm

A top US envoy warned in an interview broadcast Friday that a long delay in resolving controversies surrounding Afghan elections will only play into the hands of the Taliban and Al-Qaeda.

Richard Holbrooke, who is President Barack Obama‘s pointman for Afghanistan and Pakistan, was asked by the BBC whether it could create an unstable environment if counting from the August presidential election took months.

“I don’t think you’re going to have a process that’s drawn out that long, at least I hope not,” Holbrooke told the BBC in an interview.

“The beneficiary of that would be the Taliban and Al-Qaeda, and I need to underscore that… the beneficiary of any delays of the sort you’re talking about would be the Taliban and Al-Qaeda, and everybody understands that.”

US Special Representative to Pakistan and Afghanistan, Richard Holbrooke (second left) talks with electoral staff at a polling station in Kabul in August

The US State Department has said it could take months to determine the results from the August 20 election and sort through all the allegations of irregularities during Afghanistan’s second-ever direct presidential election.

Despite allegations of fraud and other abuses, Holbrooke said the process had to be supported and that scrapping the election was “out of the question”, saying the United States had been prepared for disputes over the poll.

“I agree that there were major irregularities in many areas and the election complaints commission is looking at those. We always knew there would be problems,” Holbrooke told the BBC.

“A re-run of the whole election? Ain’t going to happen,” he said.

Afghanistan’s vote monitoring body on Thursday ordered for the first time that ballots be scrapped from 83 polling stations finding “clear and convincing evidence of fraud”.

So far, President Hamid Karzai is on track to win a second term in office with more than 54 percent of the votes that have been released so far.

Holbrooke paid tribute to Karzai’s main rival Abdullah Abdullah — trailing with less than 30 percent of the vote and who has alleged massive state-engineered fraud tried to buy the leader a second five-year term.

“He’s proved in this election that he’s a good politician with a formidable national base and I think he’s going to be a big factor in Afghanistan politics in the future whatever happens,” Holbrooke said.

Source: SGGP

Firms urged to delay IPOs as market spirals downward

In Uncategorized on November 28, 2008 at 4:13 pm

HA NOI — Firms planning to go public are being urged by securities experts to delay offering shares until the market reverse its current downward trend.

They point to the experiences of a number of enterprises that have listed shares in recent weeks, only to see values plunge on the opening day of trading.

Shares of PetroVietnam Financial (PVF) hit the floor on the first day they were listed on the HCM City Stock Exchange (HOSE), falling from their reference price of VND30,000 to VND24,000. The shares have continued to slide, ending the day yesterday at only VND16,700.

Shares of Deo Nai Coal (TDN), Cao Son Coal (TCS) and Veterinary Medicines Joint Stock Co (MKV) all plunged when they joined trading at the Ha Noi Securities Trading Centre (HASTC) last Friday.

Despite the negative signs, Phuc Hung Construction Investment and Ex-import Co and Vung Tau Oil and Gas Trading and Service Co have both registered to list shares.

While an IPO allows enterprises to raise capital in the short term, poor performance of shares undercuts an enterprise’s viability in the long run.

The head of the State Securities Commission’s Market Development Division, Nguyen Son, suggested investors consider carefully whether to approve an enterprise’s listing plans at shareholder meetings, as falling share values would have an impact on their interests.

Earlier this month, the commission also asked HOSE and HASTC to more carefully consider, whether to accept listing applications from enterprises in a move to protect the rights of investors and avoid negative impacts on the market during the current global economic downturn.

It recommended that HOSE and HASTC scrutinise the applications of any enterprises, which had posted losses in the third quarter of this year or which lacked capital reserves as required by regulations.

The commission also said that the two exchanges were authorised to deny registration by such enterprises or delay approval until fourth-quarter financial statements were available. —

Outcry over delay in shrimp project

In Uncategorized on November 17, 2008 at 10:22 am

KHANH HOA — An incomplete shrimp raising project in Cam Thinh Dong Commune, Cam Ranh Township, central Khanh Hoa Province worth VND40 billion (US$2.3 million) has caused a public outcry after prolonged delays have left farmers with no means to earn a living.

The project was given approval from the provincial People’s Committee back in July 2000. It was to cover 160ha in the commune and receive money from the Ministry of Fisheries.

The first phase of the project was completed in 2001 at a total cost of over VND17 billion ($1 million) and was divided into five contract packages to build basic facilities, including 44 ponds, 44 drains and a pump station.

Four out of the five contract packages were completed by late 2003.

Problems started with the last contract package to build a pump station and steel water pipeline at an estimated cost of over VND2 billion. Khanh Phuong Ltd Co from Nha Trang City were in charge of construction.

After extensive delays, building work was finally wrapped up in 2007, although it had been scheduled for completion in early 2004.

Tran Van Ot, deputy head of the economic bureau of Cam Ranh Township said the company had asked to change construction material from steel to cast iron because of rising steel prices so it had taken more time for the company to get a licence from the provincial People’s Committee. There had also been hold ups with procedures to apply for the installation of a pump station in neighbouring Ninh Thuan Province, he said.

The problem was that the completed stages of the project were gradually falling into disrepair. Pump stations and drains and tens of hectares of ponds were now becoming overgrown with weeds, many locals said.

But their complaints were falling on deaf ears, said Doan Cong Nhan, chairman of the Cam Thinh Dong Commune’s People’s Committee. “Local authorities and people living in the project area have complained to authorised agencies many times about the issue but received no reply.”

Hundreds of local farmers had to leave their farms for land to be cleared for the project. Many were promised jobs on the large-scale farm but now they have to find alternative ways to earn money.

“My family had 1,800sq.m of water surface for shrimp raising, which earned us VND50 million ($2,900) each year but since the project was started, we have no land for production and must do temporary jobs like bricklaying, fishing or raising cows to have enough to eat,” said local farmer Doan Cong Lam.

Do Manh Hung, a farmer who had raised shrimp in the area for more than 10 years, said his family got VND13 million ($764) in exchange for their land. The project management board also promised they would get jobs once the plan was fully operational.

“The management board promised to give us 1,800sq.m of water surface so we could raise shrimp again once the project was put into operation,” he said.

An official from the communal People’s Committee said authorities have planned to transfer the project to Thong Thuan Seafood Company in Ninh Thuan Province. —

Official confident in State enterprise equitisation despite delay

In Uncategorized on August 20, 2008 at 2:59 pm

Hanoi (VNA)- Deputy Head of the Enterprise Renewal Department Nguyen Trong Dung has reiterated the Government’s resolution to boost the equitisation of State-owned enterprises (SoEs) despite slow progress made in the recent past.

He said his agency is awaiting the Prime Minister’s approval for its new plan on SoEs equitisation to speed up the tempo and ensure the quality of the process.

The move asks responsible agencies to reconsider the proportion of shares for foreign strategic partners and revise relevant policies in favour of the target enterprises.

A recent survey conducted on 1,600 one year and odd old SoE-turned joint-stock companies has shown that their charter capital increased 58.6 percent on average, revenues up 48 percent, profits 331 percent and employees’ incomes, almost 52 percent.

However, the recent past witnessed a huge reluctance for equitisation among corporations and consortiums, which experts blamed on the sluggish stock market and high inflation.

Statistics released by the Enterprise Renewal Department revealed that so far this year just 10 of 45 State-owned corporations and economic groups on the Government’s list for this year’s equitisation have started their process. Many of them have delayed their equitisation and initial public offerings (IPO) schemes in the wake of the diving stock market, high inflation and bank loans interest hikes.

Dung acknowledged the failure of the relevant pricing policy which offers the same prices of shares for both individual investors and strategic partners. The policy has failed to draw investments from potential investors, especially foreign partners with financial, management, technological and market power, he said.

In fact, in addition to the Vietnam Garment and Textile Group which has submitted an official proposal for postponing equitisation timetable till 2009, many other groups such as the Vietnam Industrial and Commercial Bank, mobile phone giants Mobifone and Vinaphone and the Vietnam Airlines are open to an option of delaying their equitisation schemes till next year.

Despite all above difficulties, SoEs equitisation will continue in an effort to renew enterprises and improve their competitive edge and performance as well as to draw foreign investment, emphasised the official.–