Tag Archives: Companies

Number of Turkmen textile enterprises to be transformed into joint-stock companies

Turkmenistan plans to change the organizational and legal form of its Mary Textile Factory and Türkmendokma (Turkmen Textile) Foreign Trade Enterprise into an open joint-stock company, Trend reports citing Business Turkmenistan.

Vice-Premier of Turkmenistan Chary Gylyjov during a Cabinet of Ministers meeting held online on Friday reported to President Gurbanguly Berdimuhamedov on the activities on transforming some enterprises of the Ministry of Textile Industry into joint-stock companies, the country’s official media reports.

According to the report, in order to modernize production and expand the range of products, a proposal was submitted to the Head of State to transform the Mary Textile Factory into an open joint-stock company with the Ministry of Textile Industry and the Turkmengala Cotton Spinning Factory as its shareholders.

The Vice-Premier also presented a proposal on privatizing the Türkmendokma Foreign Trade Enterprise and transforming it into an open joint stock company with the Ministry of Textile Industry and the Altyn Asyr Trade Center as its shareholders.


Following the report, President Gurbanguly Berdimuhamedov noted the necessity of measures to ensure favorable conditions for improving the efficiency of state property management and transforming enterprises into joint-stock companies, increasing the share of private sector in the structure of the economy, developing small and medium-sized businesses, addressing the relevant instructions to the Vice-Premier.

Presently, 60 enterprises operate under the Ministry of Textile Industry of Turkmenistan, with the 16 enterprises functioning as joint stock companies.

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This post originally posted here Trend – News from Azerbaijan, Georgia, Kazakhstan, Turkmenistan, Uzbekistan, Iran and Turkey.

Bukayo Saka calls out social media companies for ‘not doing enough’ to stop racial abuse

Arsenal winger Bukayo Saka has spoken out for the first time since missing the decisive penalty in England’s Euro 2020 final defeat to Italy on Sunday. Following the Wembley showdown, Saka, Marcus Rashford and Jadon Sancho received a torrent of abuse on social media and have now all responded.

In an emotional statement across his social media accounts, Saka has thanked the masses of well-wishers for the support after his final heartbreak.

The 19-year-old also sent out a clear message to social media giants Instagram, Twitter and Facebook, urging them to do more to prevent the abuse he, Sancho and Rashford received on the back of Sunday’s clash.

He said: “I have stayed away from social media for a few days to spend time with my family and reflect on the last few weeks.

“This message won’t do it justice how grateful I am for all the love that I have received, and I feel that I need to thank everyone who has supported me.

“It was an honour to be part of an @England squad that leads by example, they are brothers for life and I’m grateful for everything that I have learnt from every one of the players and staff who worked so hard.

“To help that team reach our first final in 55 years, seeing my family in the crowd, knowing what they’ve given up to help me get there, that meant everything to me.

“There are no words to tell you how disappointed I was with the result and my penalty. I really believed we would win this for you.

“I’m sorry that we couldn’t bring it home for you this year, but I promise you that we will give everything we’ve got to make sure this generation knows how it feels to win.

“My reaction post match said it all, I was hurting so much and I felt like I’d let you all and my England family down, but I can promise you this.. I will not let that moment or the negativity that I’ve received this week break me.

“For those who have campaigned on my behalf and sent me heartfelt letters, wished me and my family well – I’m so thankful. This is what football should be about.

“Passion, people of all races, genders, religions and backgrounds coming together with one shared joy of the rollercoaster of football.

“To the social media platforms @instagram @twitter @facebook I don’t want any child or adult to have to receive the hateful and hurtful messages that me Marcus and Jadon have received this week.

“I knew instantly the kind of hate that I was about to receive and that is a sad reality that your powerful platforms are not doing enough to stop these messages.

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This post originally posted here Daily Express :: Sport

Norwegian Cruise Line Holdings is suing over the law that prohibits companies from requiring customers and employees to give documentation of Covid vaccination

(CNN) — Norwegian Cruise Line Holdings is suing Florida’s surgeon general over the state’s law that prohibits companies from requiring customers and employees to provide documentation of Covid-19 vaccination status.

According to the complaint filed Tuesday, NCLH says the lawsuit is a “last resort” because Florida had indicated it would prevent the company from “safely and soundly resuming passenger cruise operations” next month. It described the state law as an “anomalous, misguided intrusion.”

CNN has reached out to the Florida Department of Health for comment.

The NCLH complaint names Surgeon General Dr. Scott Rivkees in his capacity as “the responsible state official.”

In April, Gov. Ron DeSantis signed an executive order banning the use of Covid-19 passports in the state. The order prohibited any government entity from issuing vaccine passports and blocks businesses from requiring any such documentation.
Senate Bill 2006 was signed into law on May 3, making that executive order official. “In Florida, your personal choice regarding vaccinations will be protected and no business or government entity will be able to deny you services based on your decision,” DeSantis said.

The cruise line, though, wants documentation that all passengers and crew members have been fully vaccinated.

“The upshot places NCLH in an impossible dilemma as it prepares to set sail from Florida: NCLH will find itself either on the wrong side of health and safety and the operative federal legal framework, or else on the wrong side of Florida law,” the complaint says.

NCLH is set to resume cruises from Florida on August 15 “in a way that will be safe, sound, and consistent with governing law,” the complaint says, citing regulations set by the US Centers for Disease Control and Prevention.

“The risk of transmission of COVID-19 among the unvaccinated in the close quarters of cruise ships coupled with the effectiveness of COVID-19 vaccines in preventing the spread of COVID19 and in reducing the deaths caused by COVID-19 makes transmission of information about COVID-19 vaccines a matter of life and death,” the complaint says.

NCLH is asking the court to suspend Florida’s prohibition, according to the lawsuit, filed in US District Court for the Southern District of Florida.

In May, NCLH CEO Frank Del Rio said Florida’s law could cause the company to move its ships elsewhere.

“At the end of the day, cruise ships have motors, propellers and rudders, and God forbid we can’t operate in the state of Florida for whatever reason, then there are other states that we do operate from, and we can operate from the Caribbean for a ship that otherwise would have gone to Florida,” he said during the company’s quarterly earnings call.

The CEO described the issue over the Covid regulations as a “classic state versus federal government issue.” He added, “Lawyers believe that federal law applies.”

Norwegian Cruise Line Holdings Ltd. operates three cruise lines: Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises.

CNN’s Theresa Waldrop contributed to this report.

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This post originally posted here CNN.com – RSS Channel – HP Hero

Biden to warn US companies of risks of operating in Hong Kong

The Biden administration will this week warn US companies of the increasing risks of operating in Hong Kong as China asserts greater control over the financial hub.

According to three people familiar with the message, those threats include the Chinese government’s ability to gain access to data that foreign companies store in Hong Kong and a new law that allows Beijing to impose sanctions against anyone that enables foreign penalties to be implemented against Chinese groups and officials.

President Joe Biden is planning to issue the warning and impose more sanctions this week in response to Beijing’s crackdown on the pro-democracy movement in Hong Kong and the genocide the US has accused Beijing of committing against Muslim Uyghurs in Xinjiang.

On Tuesday, the US will update a warning that the Trump administration issued on Xinjiang last year, according to five people familiar with the decision. The business advisory will stress the legal risks that US companies face unless they ensure that their supply chains are not implicated in forced labour in Xinjiang.

The decision was driven partly by the view that companies were not taking the issue seriously enough.

“The point of the advisory is to stress [that] if you do not exit these supply chains you run a risk of violating US law,” said an official who did not want to be named. “We want to make clear to the business community . . . that they need to be aware of reputational, economic and legal risk of their involvement with entities involved in human rights abuses.”

While Biden is intensifying the Trump administration’s focus on Xinjiang, the move will mark the first time a US administration has issued a business advisory in relation to Hong Kong.

A person familiar with the matter said there had been dissent within the administration, with some officials concerned that the warning would discourage US companies from operating in a critical financial centre. But more hawkish officials argued successfully that companies needed to grasp the nature of the risk of doing so.

In a separate event, Biden may impose more sanctions against Chinese officials in Hong Kong, according to a person familiar with the discussions. The warning will mention recent events such as the forced closure of Apple Daily, the pro-democracy tabloid owned by Jimmy Lai.

Zhao Lijian, China’s foreign ministry spokesperson, criticised the planned US moves as “typical double standards and political manipulation”.

“Hong Kong’s Basic Law clearly protects foreign investors’ rights and interests,” he told a press conference on Tuesday, referring to the territory’s mini-constitution. He added that any attempt by Washington to “use Xinjiang as a leverage” was “doomed to fail”.

Last week, the US commerce department added 14 Chinese companies to its export blacklist, accusing the companies of involvement in human rights abuses and surveillance in Xinjiang. Beijing denounced the move as an “unreasonable suppression” and vowed to respond with “necessary measures”.

The White House is also considering a policy that would allow Hong Kong citizens in the US to remain after their visas expire if they face potential political persecution in Hong Kong. But that policy is being debated and is not expected to be part of the package of actions to be announced this week.

The warning will reverberate in the sizeable US business community in Hong Kong. The American Chamber of Commerce in the city has more than 1,200 members and 282 US companies based their regional headquarters there in 2020.

US companies have been unnerved about the passage of a national security law a year ago, partly because it would allow Beijing to access data stored on servers in Hong Kong. More recently, companies have become alarmed by the possibility that China could apply the counter-sanctions law, which allows for the seizure of assets, in Hong Kong.

While a decision on whether to provide asylum to Hong Kong citizens in the US had not been finalised, any such development would anger Beijing, which is hostile to foreign governments such as the UK and Canada offering shelter to those escaping political persecution.

Beijing has not prevented Hong Kong residents from taking up the British National (Overseas) visa programme, but it has made it harder for those who do so to redeem their retirement savings.

The White House and state department declined to comment on the imminent actions on Hong Kong.

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These are OUR waters! Argentina launches Falklands power grab – UK companies targetted

The Argentine secretaries of Energy, Dario Matinez, and of the Malvinas, Antarctica and South Atlantic, Daniel Filmus, said they will notify the three companies of the sanctions issued towards them for commercial activities in the disputed waters.

Argentina claims they did not have the authorisation of the its government, who claim the British Overseas Territory as theirs.

Mr Filmus said: “These companies are not authorised to operate nor have they requested any type of authorisation.”

The secretaries said they “were committing a crime in Argentina” and the three companies continued to participate in exploratory and exploitation works.

The oil companies are Chrysaor Holdings Limited and Harbor Energy Plc, which are based in Britain, and the Israeli company Navitas Petroleum LP.

They have a period of several days to respond to Argentina but if they don’t the country will proceed with their disqualification.

Any disqualification would prevent them from participating for a period of five to 20 years in bidding processes to operate in waters off the Argentine continental shelf, officials said.

Between 2011 and 2015, eight other companies from different countries have already been sanctioned.

This means they cannot operate in Argentina and others areas through a criminal complaint.

READ MORE: ‘Falklands will ALWAYS be ours!’ Argentina issues furious threat

Mr Filmus added that the “action that Argentina is taking is supported by declarations from multilateral organisations such as the Latin American Energy Organisation (OLADE) and the G77 + China, which have defended United Nations resolution 2065 for a bilateral negotiation as a form of final and peaceful resolution of the dispute with the United Kingdom”.

According to the Argentine government, several oil companies have no interest in participating in exploratory activities in the region while the dispute between the UK and Argentina persists.

Last week, Argentina demanded the Falkland Islands be given to them as it is their “inalienable goal” to gain sovereignty over the South Atlantic territory.

In June, Buenos Aires took its claim over the Falkland Islands to the UN Decolonisation Committee.

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Now, Argentine Defence Minister Agustin Rossi has declared: “Malvinas are an inalienable goal.”

He said that there is “an inalienable objective of the national government” in recognising the geopolitical importance of the Falkland Islands.

The defence minister emphasised the advancement of the militarisation process in achieving this.

Argentina and Britain fought a war in 1982 for dominance of the archipelago, in which the South American country was defeated.

The conflict lasted 74 days and ended with an Argentine surrender on June 14, returning the islands to British control.

In total, 649 Argentine military personnel, 255 British military personnel, and three Falkland Islanders died during the hostilities.

Diplomatic relations between the United Kingdom and Argentina were restored in 1989 following a meeting in Madrid, at which the two governments issued a joint statement.

In 1994, Argentina adopted a new constitution, which declared the Falkland Islands by law as an Argentine province.

However, the islands continue to operate as a self-governing British Overseas Territory.

Additional reporting by Maria Ortega

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Author: Steven Brown
Read more here >>> Daily Express :: World Feed

KKR steps up pursuit of UK companies amid buyout frenzy

KKR steps up pursuit of UK companies amid buyout frenzy

KKR is expanding its operations to target more takeovers in the UK, as the record-breaking pursuit of British companies by private equity groups reignites a debate over the role of the buyout industry in the economy.

One of the world’s largest private equity groups will set up a new team of five dealmakers to focus on buying British companies, the heads of its European buyouts business said in an interview with the Financial Times.

“The idea is to have a few more British people covering British companies from a relationship perspective than we have in the past,” said Mattia Caprioli, co-head of KKR’s European private equity business.

There will be “dedicated people covering the UK proactively as a main job”, he added. Its London staff are moving to a larger office in Mayfair’s Hanover Square.

Founded in 1976 by Henry Kravis and George Roberts, KKR helped shape the modern private equity industry and manages about $ 367bn in assets.

A combination of Brexit and the pandemic have depressed valuations in Britain, prompting private equity groups to snap up companies there at the fastest pace in history. Buyout groups have bought or announced bids for 366 UK companies so far this year, the most for a comparable period since records began in the 1980s, according to figures from Refinitiv.

The latest in the wave of deals came over the weekend when an investor group led by US investment manager Fortress agreed a £9.5bn deal for supermarket group Wm Morrison in what would be the country’s largest leveraged buyout since KKR bought Boots in 2007.

“There’s more value at a high level in the UK than there is in other markets,” Caprioli said. Companies in the FTSE 100 index are valued at similar multiple of their earnings as they have been for years, he said, whereas valuations have risen in many other countries.

Caprioli, who alongside Philipp Freise was promoted to co-head of KKR’s European private equity division in 2019, said the group was “not that focused” on buying listed companies in the UK, however, because such deals were “difficult” compared with acquiring privately owned businesses.

As part of its UK push, the group is hiring Michaela Wood, an investment director at rival buyouts group CVC Capital Partners, to join the new team, people familiar with the matter said.

KKR’s rivals are taking similar steps. Blackstone has hired Alexander Walsh, a managing director at TowerBrook Capital Partners, as a partner to focus on UK private equity deals, a person familiar with the matter said. Carlyle last year appointed Simon Dingemans, GlaxoSmithKline’s former chief financial officer, to oversee UK buyouts

The rise in dealmaking has sparked a fierce row with some fund managers saying the industry is buying up businesses too cheaply. The UK’s Daily Mail newspaper has launched a campaign against what it calls “ruthless” and “predatory” dealmaking.

Freise described the reaction as “absolutely normal”, adding that “we saw it in Germany 2001 to 2005 [when a senior Social Democrat politician likened the industry to locusts], we saw it in the François Hollande period [in France] . . . and we’re now seeing it arriving in the UK”.

The UK is “finding its new role in the world” after Brexit, he said. “With that comes a lot of uncertainty, and it’s only right to ask questions about the various participants in that change . . . With greater uncertainty in terms of safe jobs [and] the role of the City, comes greater scrutiny.

“So I think you see us, as leaders of the private equity business, entirely appreciative of the need to communicate and be transparent.”

He said a backlash from shareholders over takeover bids was “welcome” because “that’s their job”.

Freise and Caprioli said they had already been prepared to hunt bargains as the pandemic plunged the world into crisis last year.

“We were prepared for a dislocation, for a correction,” Caprioli said. “We had a playbook — a book, literally.”

On the first day of the shift to remote working in the spring of 2020, he said, its dealmakers “had their target list [and] the only difference was, before, the market price had been 20 per cent, 30 per cent, 40 per cent ahead. And suddenly we were in business”.

During a hectic period, KKR struck deals for French hospitals company Elsan, Spanish telecoms operator MasMovil, and US cosmetics maker Coty. The group spent about twice as much last year as it usually would, Freise said.

Shares in KKR and many other listed private equity groups are trading at all-time highs, as investors funnel ever-larger sums into the industry, boosting fee income.

“Private equity came out stronger as an industry, you know, through Covid,” Caprioli said.

Author: Kaye Wiggins and Arash Massoudi in London
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GB News week 2 advertiser list in FULL as companies defy 'woke cancel culture'

GB News has suffered some significant blows in the 12 days since its launch. The network immediately started forfeiting advertisers, with campaigning from organisations such as Stop Funding Hate pressuring companies. But while recent figures show GB News viewership has plummeted, some companies have stuck by the channel.

Which companies are still advertising with GB News?

Despite early efforts from pressure groups, GB News still has a wealth of advertisers.

Roughly 30 companies have stayed on with the fledgling network.

They include several corporate behemoths such as Sainsbury’s, Microsoft and Virgin Media.

READ MORE: Brits have little time for political correctness or ‘culture wars’

GB News chairman Andrew Neil was amongst those to criticise the advertising boycott on his channel.

In a monologue on the show, he criticised “cranks” and “agitators” trying to drive down the network’s popularity.

He told his viewers: “They have all taken the knee to Stop Funding Hate.

“It is important they – and you – realise to whom they are in thrall.”

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This post originally appeared on Daily Express :: UK Feed

GPs are fighting NHS plans to share your medical records with private companies next month

As it stands, all 36 GP surgeries in the London Borough of Tower Hamlets have agreed to withhold the data when collection begins July 1, 2021. An email calling on colleagues to mirror the protest has now been circulated to some 270 practices in England, The Guardian has reported.

Doctors believe the automatic siphoning of NHS medical records, including details on mental and sexual health data, criminal records, and more, will undermine trust between patients and their GP, Dr Ameen Kamlana, who is based in Tower Hamlets and taking part in the protest, has claimed.

“There’s an immense amount of good that can come from responsible and secure use of public data, public health records,” Dr Kamlana told The Guardian. “However, our issue here with this particular proposal is that it’s been rushed through. There has been no public information campaign to inform the public about the plans, and in order to allow them to decide for themselves whether they are happy about it.

“Essentially what’s being asked for here is people’s entire health record, so everything that we’ve coded in people’s records from the time of their birth to the time of their death, including their physical, mental and sexual health, including their health-related concerns with family and work and including their drug and alcohol history. Essentially all your most intimate private details of your life is being asked to be handed over and we were concerned that the public aren’t aware of what’s being done.”

Not included in NHS Digital’s upcoming database will be patient’s full addresses, any images or videos taken during private consultations, or legally restricted data, such as IVF treatment or gender reassignment.

NHS Digital says that anything in your records that could be used to directly identify you will be scrambled before it’s uploaded from your local GP practice. However, the organisation admits this process is completely reversible – NHS Digital will hold onto the code that unscrambles the data to its original state.

It claims that it will only ever reverse the anonymised data to reveal the identity of the patient “if there was a lawful reason to do so and it would need to be compliant with data protection law”. However, privacy campaigners have criticised the plans as “legally problematic”.

The records of 55 million patients in England compiled next month will then be made available to academics and commercial third parties, privacy campaigners have claimed. These records will be used for research and planning, with NHS Digital claiming that records “decide what new health and care services are required in a local area, informs clinical guidance and policy, and supports researching and developing cures for serious illnesses, such as heart disease, diabetes, and cancer.”

If you’d like to be omitted from the database, there is still time to remove your NHS records. To be exempt from the data-grab, you’ll need to fill out a form and submit it to your GP.

If you don’t do this before the deadline, which is June 23, 2021, your medical records will become a permanent feature of the NHS Digital database. Opting out after June 23 will still work, but will only apply to future data – any historic data will still be available to researchers, academic and commercial partners of the NHS. You can find the form required to opt out here.

Advocacy group MedConfidential, a privacy-focused group that has been pivotal in raising the alarm, told the Financial Times: “They’re trying to sneak it out, they are giving you six weeks nominally and if you do not act based on web pages on the NHS digital site and some YouTube videos and a few tweets, your entire GP history could have been scraped, never to be deleted.”

Speaking to Express.co.uk, a spokesperson for NHS Digital spokesperson said: “Patient data is already used every day to plan and improve healthcare services, for research that results in better treatments, and to save lives. During the pandemic, data from GPs has been used to benefit millions of us: helping to identify and protect those most vulnerable, roll out our world-leading vaccine programme, and identify hospital treatments, which have prevented people dying from covid.

“We have engaged with doctors, patients, data, privacy and ethics experts to design and build a better system for collecting this data. The data will only be used for health and care planning and research purposes, by organisations that can show they have an appropriate legal basis and a legitimate need to use it. We take our responsibility to safeguard patient data extremely seriously.”

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This post originally appeared on Daily Express :: Tech Feed

A Texas economic incentive offers massive tax breaks to companies

Author: Duncan Agnew
This post originally appeared on The Texas Tribune: Main Feed

Bullion banks hold mining companies hostage by manipulating metal prices – RT’s Keiser Report

Author: RT
This post originally appeared on RT Business News

Max Keiser interviews Craig Hemke of TFMetalsReport.com about the prices of gold and silver being unable to signal anything, thanks to interventions in price discovery.

They agree that the silver mining industry is “in the pockets” of the regulators and the Federal Reserve, “and they do what they want them to do.”

The bullion banks hold the mining companies hostage because miners need cash flow for production, says Hemke. He explains that the miners sell their product to the banks which give them cash, and then the banks take the product and keep it for themselves. The firms “routinely withhold production because they know the price has been ridiculously manipulated lower.”

The expert suggests that if people want to diversify out of dollars, they could buy some physical metal. “That makes sense… And if we could all kind of make a practice of doing it, kind of roughly at the same time… then we could really make an impact on how this system is structured,” he says.

For more stories on economy & finance visit RT’s business section