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What is Online share trading?
Online share trading is the process of buying and selling of shares through the internet on the secondary market with a view to profiting from the difference in the buying price and selling price. The share price of a stock is determined by the demand and supply of a particular share. Online share trading enjoys various advantages such as accessibility, security, convenience in tracking portfolio etc over traditional branch trading.
What is an Equity Share?
An equity share represents the form of ownership. The holder of such a share is a member of the company and has voting rights.
What returns can I expect from my investments in equity shares? What are the risks?
Equity shares are "High-Risk High-Return Investments." The major distinction of Equity investment from all other investment avenues is that while the return from many avenues such as Bank Deposits,Small Saving schemes, Debentures, Bonds etc are fixed and certain, the earnings from equity investments are highly uncertain and varied. A good scrip picked up at the right time could fetch fairly good returns else the return may be meager or it may even turn negative, i.e. the invested fund itself may be eroded. In short, if the investment in fixed income category instruments is secured and risk-free to a large extent, investment in equities and related fields could be termed as risky.
What is Dividend?
Dividend is the part of profit distributed by the company among its investors. It is usually declared as a percentage of the paid-up value or face value of the share.
What is a Bonus Share?
A Share issued by companies to their shareholders free of cost by capitalization of accumulated reserves from the profits earned in the earlier years.
A Bond is a promissory note issued by a company or government to its lenders. A Bond is evidence of debt on which the issuing company usually promises to pay the bondholder a specified amount of interest at intervals over a specified length of time, and to repay the original loan on the expiration date. A bond investor lends money to the issuer and in exchange, the issuer promises to repay the loan amount on a specified maturity date.
What is a Debenture?
It is a Bond issued by a company bearing a fixed rate of interest usually payable half-yearly on specific dates and principal amount repayable on a particular date on redemption of the debentures. Debentures are normally secured/charged against the asset of the company in favor of debenture holder.
What is a Stock Exchange ?
A Stock Exchange is a place where the buyer and seller meet to trade in shares in an organized manner. There are at present 25 recognized stock exchanges in the country that are governed by the Securities Contact (Regulation) Act, 1956.
What shares can I buy?
You can buy the shares that are listed on any of the recognized Stock Exchanges.
Whom should I contact for my Stock Market related transactions?
To be able to buy or sell shares in the stock markets a client would need to be registered with a stock broker like Geojit who holds membership in stock exchanges and who is registered with SEBI.
Am I required to sign any agreement with the broker or sub-broker?
Yes, you have to sign the "Member-Client agreement" for the purpose of engaging a broker to execute trades on your behalf from time to time and furnish details relating to yourself to enable the member to maintain Client Registration Form.
What is a Member–Client Agreement form?
This form is an agreement entered into between client and broker in the presence of witnesses wherein the client agrees (is desirous) to trade/invest in the securities listed on the concerned Exchange through the broker after being satisfied of broker's capabilities to deal in the same.
What is Buying and Selling?
There are several types of orders that you can dictate to a broker. The most common type, which is a regular buy or sell order, is called a market order. Another type of order is a limit order wherein you ask the broker to trade only if the price reaches a specific level. In a stop order, you tell the broker to sell your shares if the price drops to a certain level to prevent significant loss because if it drops to that level it is likely to drop further and your losses are likely to increase.
How do I place my orders?
Trading can be done via the phone or by coming in person to the office of Geojit or through any other facility provided by Geojit like Internet trading. The dealer (employee of Geojit who is supposed to input the investors order into the stock exchange order system) after checking the authenticity of the person calling and after checking the margin available in the account would put/enter the order into the stock exchange system.
What is meant by bullish and bearish trend?
When the market goes up it is called a bullish trend and when the market goes down it is called a bearish trend.
What is taking a position?
When you act upon a stock and buy into it, you are taking a position. A position is an amount of money committed to an investment in anticipation of favorable price movements.There are two kinds of positions : - Long positions are what most people do. When you buy long, that means you are anticipating an upward movement in the price, and that is how you profit. People usually buy stocks at prices expecting to sell them later at higher prices and hence make profits. Short positions are the tricky ones. When you buy short, you are anticipating a fall in the price and the fall is the source of your profits. The shares will be sold and when the price falls they will be repurchased and given back and the difference is the where the investor profits. Of course, the investor who borrowed the shares carries the risk of not having the price move as anticipated, in which case he may lose money in repurchasing the stocks.
What is an index?
An index is a stock-market indicator created as a statistical measure of the performance of an entire market or segment of a market based on a sample of securities from the market. An index is thus a means to evaluate the overall performance of a market or of a segment of the market. An index measures aggregate market movements. Apart from being a general market indicator, indices are used as a benchmark to evaluate individual portfolio performance. Professional money managers will always try to outperform the market, i.e. they will always try to do better than the indices. For example, if the value of a portfolio moves up by 10% while the index moved up by only 5% then the portfolio is doing better than the market. We have 2 renowned indices viz. BSE Sensitive (BSE Sensex) and S&P Nifty 50 (Nifty) BSE Sensex comprises of 30 large-cap companies. As the name suggests, it is a premier index on Bombay Stock Exchange (BSE). Nifty comprises of 50 large-cap companies on the National Stock Exchange (NSE).
What is Methodology of trades?
The market watch, i.e the screen kept open normally on the trade screen would show the following columns - Best bid price Best bid quantity Best offer price Best offer quantity Last traded price The first 2 columns as given above show the available buyers for a particular share in the stock exchange and the next 2 columns show the available sellers, and the fifth column shows the price at which the last trade took place. Hence when a investor wants to buy a share at "market price" ideally the 3rd and the 4th column would depict how many shares one can get at a stipulated price. The client can also put a limit price order which would sit in the order book till it reaches a price time priority when the trade can be executed.
Contract Note is a confirmation of trades done on a particular day on behalf of the client. It establishes a legally enforceable relationship between the client and Geojit with respect to the settlement of the trades. The Contract Note would show settlement number, order number, trade number, time of trade, quantity and price of the trades, brokerage charged, etc and it would be signed by an authorised person of Geojit.
What is pay-in day and pay-out day?
Pay-in day is the day when the broker shall make payment or delivery of securities to the exchange. Pay-out day is the day when the exchange makes payment or delivery of securities to the broker.
What is a depository?
A depository can be compared to a bank. A depository holds securities (like shares, debentures, bonds, Government Securities, units etc.) of investors in electronic form. Besides holding securities, a depository also provides services related to transactions in securities. There are two main depositories in India, namely, a) National Securities Depository Ltd. (NSDL) and b) Central Depository Securities Ltd. (CDSL), both of which are regulated by SEBI. Geojit is a Depository Participant of NSDL and will hold your securities in electronic form.
What should I do when I want to open an account with a DP?
You can approach Geojit or any DP of your choice and fill up an account opening form. At the time of opening an account, you have to sign an agreement with DP in a NSDL prescribed standard agreement, which details your and your DP's rights and duties.
What do you mean by 'Market Trades' and 'Off Market Trades'?
Any trade settled through a clearing corporation is termed as a 'Market Trade'. These trades are done through stock brokers on a stock exchange. 'Off Market Trade' is one which is settled directly between two parties without the involvement of a clearing corporation. The same delivery instruction slip can be used either for market trade or off-market trade by ticking one of the two options.
How do I deliver or receive shares to or from Geojit?
In case of sales, the investor would need to transfer the shares to the pool account of Geojit for the specified settlement number. The pool account number for shares sold on BSE is IN603287 and for NSE it is IN506594. The delivery should necessarily come from the demat account of the investor and not from any other person. Similarly Geojit would directly transfer shares bought to the account of the investor.
How do I make or receive payments to or from Geojit?
Payments to Geojit has to be made via a Account Payee cheque/Demand Draft in favor of Geojit. The payment should necessarily come from the bank account of the investor and not from any other person. Similarly Geojit would pay an Account Payee cheque in the name of the investor, which will also contain the Bank name and account number of the client.
What is a Rolling Settlement?
In a Rolling Settlement trades executed during the day are settled based on the net obligations for the day. In NSE and BSE, the trades pertaining to the rolling settlement are settled on a T+2 day basis where T stands for the trade day. Hence trades executed on a Monday are typically settled on the following Wednesday (considering 2 working days from the trade day). The funds and securities pay-in and pay-out are carried out on T+2 day.
What is an Auction?
The securities are put up for auction by the Exchange on account of non-delivery of securities by the selling trading member to ensure that the buying trading member receives the securities due to him. The non-delivery by the trading member could arise on account of short delivery. The Exchange purchases the requisite quantity in the Auction Market and gives them to the buying trading member.
What happens if I could not make the payment of money or deliver shares on the pay-in day?
In case of purchase on your behalf, the member broker has the liberty to close out transactions by selling securities in case you fail to make full payment to the broker for the execution of contract before pay-in day as fixed by Stock Exchange for the concerned settlement period unless you already have an equivalent credit with the broker. The shortages in case of sales are met through auction process and the difference in price indicated in Contract Note and price received through auction is paid by member to the Exchange which is then liable to be recovered from the client. In both the cases any loss in transactions will be deductible from the margin money paid by you.
What happens if the shares are not bought in the auction?
If the shares could not be bought in the auction i.e. if shares are not offered for sale in the auction, the transactions are closed out as per SEBI guidelines. The guidelines stipulate that "the close out price will be the highest price recorded in that scrip on the exchange in the settlement in which the concerned contract was entered into and upto the date of auction/close out OR 20% above the official closing price on the exchange on the day on which auction offers are called for, whichever is higher." Since in the rolling settlement the auction and the close out takes place during trading hours the reference price in the rolling settlement for close out procedures would be taken as the previous day's closing price.
What happens if I do not get my money or share on the due date?
In case a broker fails to deliver to you in time and make the proper payment of money/shares or you have a complaint against the conduct of the broker, you can file a complaint with the respective stock exchange. The exchange is required to resolve all complaints. To resolve the dispute the complainant can also resort to arbitration as provided on the reverse of Contract Note /Purchase or Sale Note. However, if the complaint is not addressed by the Stock Exchanges or is unduly delayed then the complaints along with supporting documents may be forwarded to Secondary Market Department of SEBI. Your complaint would be followed up with the exchanges for expeditious redressal. In case of a complaint against a sub-broker, for redressal the complaint may be forwarded to the concerned broker with whom the subbroker is affiliated.
What are the additional charges other than brokerage that can be levied on the investor?
The trading member can charge: Securities Transaction Tax. Service tax as applicable. Transaction charges levied by NSE, Stamp duty and other charges directly attributable to the transaction. Note : The brokerage and service tax is indicated separately in the contract note.
How are margins paid?
Exchange prescribes margin rules from time to time, which currently are calculated on the Value at Risk model. Margins are to be paid by the investor before placing the order.
What are the rights of the investor?
The right to get - Proof of price/brokerage charged, Money/shares on time, Statement of Accounts and Contract Note from trading member.
What are the obligations of the investor?
The obligation to - Sign a proper Member-Constituent Agreement Possess a valid contract or purchase/sale note Deliver securities & make payment on time Provide Margin before trade
What are the various kinds of accounts that I need to trade via Internet with Geojit?
Three kinds of accounts are required to be able to trade on-line. They are: E-Broking account with Geojit Depository Participant (DP) account with Geojit Bank account which has developed an interface with "Geojit" i.e. designated banks like HDFC Bank, UTI Bank, Citi Bank.
What are the tax implications of investing in Indian equities?
Tax rates on investments gains are categorized as long term & short term capital gains. Long term capital gains Long Term investments that are held for more than 12 months are termed as long term capital assets. Profit on sale of such assets is termed as long term capital gain (LTCG) which as per the latest Budget notification will attract nil tax. Short term capital gains Shares that are held for less than 12 months are classified as short term capital assets which as per the latest Budget notification will attract 15% tax.
Who is a Portfolio Manager?
Any person who pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of securities or the funds of the client, as the case may be is a Portfolio Manager. Geojit is a SEBI Registered Portfolio Manager (Reg. No.INP000000316) that offers Discretionary Portfolio Management Services to Residents who can invest a minimum of Rs.10 lakhs and for Non-Residents who can invest a minimum of Rs. 25 lakhs.
What is the function of the Capital Market?
Capital Market enhances capital formation in the economy and comprises of - Primary Market is a place where new offerings by Companies are made either as an Initial Public Offering (IPO) or Rights Issue. Secondary Market is a market where securities are traded after being initially offered to the public in the Primary Market and/or listed on the Stock Exchange. Majority of trading is done in this market which comprises of equity market and debt market.
Attention Investor
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Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing
Geojit Financial Services Ltd., Registered Office: 34/659-P, Civil Line Road, Padivattom, Kochi-682024, Kerala, India
Phone: +91 484-2901000. Website: www.geojit.com.
For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com, For compliance officer: compliance@geojit.com.
Corporate Identity Number: L67120KL1994PLC008403, SEBI Stock Broker Registration No INZ000104737, Research Entity SEBI Reg No: INH200000345, Investment Adviser SEBI Reg No: INA200002817, Portfolio Manager: INP000003203, Depository Participant: IN-DP-325-2017, ARN Regn.Nos:0098, IRDA Corporate Agent (Composite) No.: CA0226.
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Pre-Session Mid-Session End-Session Market Beat Quick Review Hot Pursuit Stock Alert Economy News Foreign Market Corporate Results Other Markets
Market Commentary - Pre-Session
Stocks may see firm opening
SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 96 points at the opening bell.
Global markets:
Overseas, Asian stocks traded mixed on Tuesday as investors await remarks from U.S. President-elect Joe Biden's nominee for Treasury secretary, Janet Yellen.
On the coronavirus front, the head of the World Health Organization warned Monday of a "catastrophic moral failure" due to unfair vaccine rollouts.
The U.S. stock market was closed on Monday in honor of Martin Luther King Jr. Day.
Domestic markets:
Back home, benchmark indices ended with steep losses on Monday, extending fall for the second straight session. Rising coronavirus cases across US, Europe and China weighed on investors' sentiment. The barometer index, the S&P BSE Sensex, dropped 470.40 points or 0.96% to 48,564.27. The Nifty 50 index lost 152.40 points or 1.06% at 14,281.30.
Foreign portfolio investors (FPIs) bought shares worth Rs 650.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 42.51 crore in the Indian equity market on 18 January, provisional data showed.
Market may open lower
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 29 points at the opening bell.
Overseas, Asian stocks are trading mixed on Monday as investors in the region reacted to Chinese economic data releases, including the country's GDP print for the fourth quarter.
China reported GDP rose 2.3% last year as the world struggled to contain the coronavirus pandemic. Gross domestic product grew by 6.5% in the fourth quarter from a year ago, official data from National Bureau of Statistics showed. However, Chinese consumers remained reluctant to spend, as retail sales contracted 3.9% for the year. Retail sales for the fourth quarter rose 4.6% from a year ago.
Markets in the U.S. are closed on Monday for a holiday. US stocks fell on Friday as traders weighed President-elect Joe Biden's $1.9 trillion stimulus plan along with the latest earnings from some of the biggest U.S. banks.
The Dow Jones Industrial Average closed 177.26 points lower, or 0.6%, at 30,814.26. The S&P 500 dipped 0.7% to 3,768.25, and the Nasdaq Composite slid 0.9% to end the day at 12,998.50.
Among major banks, JPMorgan reported better-than-expected earnings. Wells Fargo and Citigroup posted earnings that beat analyst expectations.
Back home, domestic equity benchmarks declined sharply on Friday, led by broader selling pressure. The barometer index, the S&P BSE Sensex, dropped 549.49 points or 1.11% to 49,034.67. The Nifty 50 index lost 161.90 points or 1.11% at 14,433.70.
Foreign portfolio investors (FPIs) bought shares worth Rs 971.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 942.07 crore in the Indian equity market on 15 January, provisional data showed.
Weak opening likely
Budget session:
The Union Budget 2021-22 would be presented on February 1. The Parliament session would be starting from January 29, and would be held in two phases. Subject to exigencies of government business, the session is likely to conclude on 8 April 2021.
Overseas, Asian stocks were mixed on Friday as investors regionally reacted to the release of U.S. President-elect Joe Biden's $1.9 trillion coronavirus rescue package.
U.S. President-elect Joe Biden on Thursday revealed details of a $1.9 trillion coronavirus rescue package. Biden's proposal, called the American Rescue Plan, includes some familiar stimulus measures in the hope of sustaining families and companies till vaccines are widely distributed. Some of the proposed measures include stimulus checks as well as unemployment support.
Shares of Chinese smartphone maker Xiaomi plunged in Friday after U.S. President Donald Trump's administration placed the firm on a blacklist of alleged Chinese military companies.
In US, stocks fell slightly on Thursday, with tech shares declining, as traders awaited the unveiling of a potentially big economic stimulus package.
Sentiment got a boost earlier in the session as trial data published late Wednesday showed that Johnson & Johnson's one-dose coronavirus vaccine is safe and generates a promising immune response.
Investors kept an eye on Federal Reserve Chair Jerome Powell, who struck a dovish tone in comments at a virtual symposium with Princeton University. Powell said the U.S. central bank is not raising interest rates anytime soon and rejected suggestions the Fed might start reducing its bond purchases in the near term.
Meanwhile, Donald Trump became the first president in U.S. history to be impeached twice when the House voted 232-197 on Wednesday to charge him with inciting riots at the Capitol.
Back home, the domestic equity benchmarks reversed early losses and ended with decent gains on Thursday. The barometer index, the S&P BSE Sensex, added 91.84 points or 0.19% to 49,584.16. The Nifty 50 index gained 30.75 points or 0.21% at 14,595.60.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,076.62 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 188.10 crore in the Indian equity market on 14 January, provisional data showed.
Market may open slightly higher
Overseas, Asian stocks are trading mixed on Thursday as investors await the release of Chinese trade data for December.
On the coronavirus vaccine front, trial data published Wednesday in the New England Journal of Medicine reportedly showed Johnson & Johnson's one-shot Covid vaccine is safe and appears to generate a immune response in both young and elderly volunteers. J&J's vaccine candidate, which only requires one dose, could simplify logistics for health-care providers. The two vaccines currently authorized by the Food and Drug Administration from Pfizer-BioNTech and Moderna require two doses about three to four weeks apart.
In US, the S&P 500 and Nasdaq Composite closed slightly higher on Wednesday, led by tech shares, as traders kept an eye on interest rates, the political uncertainty coming out of Washington and a still raging pandemic. President-elect Joe Biden is expected to release details on his economic plan on Thursday.
The S&P 500 index gained 0.2% to end the day at 3,809.84, and the tech-heavy Nasdaq advanced 0.4% to 13,128.95. The Dow Jones Industrial Average closed just 8.22 points lower, or 0.03%, at 31,060.47.
Meanwhile, turmoil in Washington continues with the House on Wednesday impeaching U.S. President Donald Trump for inciting the attack on the U.S. Capitol last week.
Back home, the domestic equity barometers ended almost flat after a volatile session on Wednesday. Select autos and PSU banks advanced while pharma and financial stocks lagged. The barometer index, the S&P BSE Sensex, was down 24.79 points or 0.05% to 49,492.32. The Nifty 50 index added 1.40 points or 0.01% to 14,564.85.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,879.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,370.17 crore in the Indian equity market on 13 January, provisional data showed.
Indices may nudge higher in early trade
On the macro front, the Index of Industrial Production (IIP) contracted 1.9% for November 2020, data released on Tuesday showed. The factory output in the country had grown at 3.6% in October. India's Consumer Price Index (CPI) eased to 4.59% in December from 6.93% in November.
Overseas, Asian stocks are trading mixed on Wednesday morning trade as investors watch for developments on the coronavirus front. In corporate news, Hong Kong-listed shares of Lenovo jumped after the firm announced Tuesday a proposed issuance and admission of Chinese depositary receipts on the Shanghai Stock Exchange's Science and Technology Innovation Board.
The Japanese government is set to expand the state of emergency to more areas on Wednesday, as per reports. That comes after Japanese Prime Minister Yoshihide Suga recently declared a state of emergency in Tokyo and three other areas in a bid to stem a rise in coronavirus infections. Meanwhile, local Chinese authorities in regions near Beijing are reportedly stepping up restrictions on social activity following a rise in new coronavirus cases.
In US, stocks closed along the flatline on Tuesday as traders weighed higher rates, possible stimulus and political turmoil.
Investors will watch for developments from Washington, with the U.S. House set to push ahead with efforts to remove President Donald Trump from office over his role in sparking last week's deadly attack on the Capitol. U.S. Vice President Mike Pence, however, said Tuesday night he will not remove Trump from office. The developments came just days ahead of President-elect Joe Biden's inauguration on January 20.
Back home, the domestic equity benchmark ended near the day's high on Tuesday. The barometer index, the S&P BSE Sensex, jumped, 247.79 points or 0.50% to 49,517.11. The Nifty 50 index added 78.70 points or 0.54% to 14,563.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 571.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,334.50 crore in the Indian equity market on 12 January, provisional data showed.
Stocks may see soft start
On the COVID-19 vaccine front, Bharat Biotech reportedly inked a purchase agreement with the Government of India on January 11 to provide 55 lakh doses of COVID-19 vaccine Covaxin at Rs 295 per dose. The pharma firm will be providing its coronavirus vaccine directly to 12 states, and the process will be completed in two days by January 14. Dispatches will begin from Hyderabad starting January 12. Bharat Biotech will be providing 38.5 lakh doses of the COVID-19 vaccine in stage 1 and 16.5 doses in stage 2.
Overseas, Asian stocks were trading mixed on Tuesday after shares on Wall Street pulled back overnight from all-time highs.
US stocks fell on Monday as investors assessed equity valuations and the outlook for more Covid-19 relief stimulus, along with ongoing political turmoil.
Tensions were high in Washington again to start the week as House Democrats introduced an article of impeachment on Monday against President Donald Trump for inciting the mob attack at the Capitol. The lower chamber plans to vote on the article sometime this week. Multiple Cabinet-level officials have quit since the riot, with President-elect Joe Biden set to be inaugurated on January 20.
Back home, domestic equity benchmarks jumped to end near the day's high on Monday, supported by rally in IT and auto shares. The barometer index, the S&P BSE Sensex, jumped 486.81 points or 1% to 49,269.32. The Nifty 50 index gained 137.50 points or 0.96% to 14,484.75.
Market may open higher
Overseas, Asian stocks are trading mixed on Monday, with South Korean stocks surging again on the back of big gains last week. Shares in South Korea's auto sector surged again on Monday following reports that Hyundai Motor and Apple are set to sign a partnership deal on autonomous electric cars. Markets in Japan are closed on Monday for a holiday.
In US, Wall Street scaled new highs on Friday as hopes of more stimulus from Washington were bolstered after U.S. President-elect Joe Biden said his economic package will be in the trillions of dollars.
In economic data, the US economy shed jobs for the first time in eight months in December. Nonfarm payrolls decreased by 140,000 jobs last month, the Labor Department said on Friday. Data for November was revised up to show 336,000 jobs added instead of 245,000 as previously reported.
Back home, the equity market ended with robust gains on Friday, mirroring strong global cues. The S&P BSE Sensex, jumped 689.19 points or 1.43% at 48,782.51. The Nifty 50 index rallied 209.9 points or 1.48% at 14,347.55.
Foreign portfolio investors (FPIs) bought shares worth Rs 6,029.83 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,372.54 crore in the Indian equity market on 8 January, provisional data showed.
Market may see gap-up start
On the macro front, the central government projects the country's economy to contract by 7.7% in the current fiscal year 2020-21, as per the first advance estimates of gross domestic product released by the National Statistical Office on 7 January 2021.
Overseas, Asian stocks are trading mixed on Friday trade after stocks on Wall Street cruised to new record highs overnight. Shares of South Korean automaker Hyundai Motor soared following reports of a deal between the firm and Cupertino-based tech giant Apple on developing electric vehicles and batteries.
In US, stocks rose to all-time highs on Thursday as the U.S. Congress confirmed the election of Joe Biden as president early Thursday, a day after supporters of Donald Trump invaded the U.S. Capitol. Thursday marked the Nasdaq's first-ever close above 13,000. It was also the first time the Dow and S&P 500 ended a session above 31,000 and 3,800, respectively.
Traders continued to focus on the possibility for additional fiscal aid after the Democratic party secured a slim majority in the Senate, giving it control of both congressional chambers.
Sentiment on Wall Street also got a boost after the Institute for Supply Management said its index for nonmanufacturing activity in the U.S. rose to 57.2 in December from 55.9 in November.
Back home, the main equity indices closed mildly lower on Thursday. The S&P BSE Sensex, fell 80.74 points or 0.17% at 48,093.32. The Nifty 50 index fell 8.90 points or 0.06% at 14,137.35.
Foreign portfolio investors (FPIs) bought shares worth Rs 382.30 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 989.50 crore in the Indian equity market on 7 January, provisional data showed.
Indices headed for firm opening
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 78.50 points at the opening bell.
Overseas, Asian stocks are trading mixed on Thursday after the Dow Jones Industrial Average surged to an all-time high overnight despite unrest in Washington.
In US, the Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.
Stocks closed off their highs as pro-Trump rioters stormed the U.S. Capitol and caused Congress to suspend proceedings to confirm the election of Joe Biden as president. The Capitol was finally secured late Wednesday afternoon, and Congress resumed the process of counting electoral votes and confirming President-elect Joe Biden's victory.
Back home, market ended with modest losses on Wednesday. The barometer index, the S&P BSE Sensex, dropped 263.72 points or 0.54% at 48,174.06. The Nifty 50 index slipped 53.25 points or 0.38% at 14,146.25.
Foreign portfolio investors (FPIs) sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 380.41 crore in the Indian equity market on 6 January, provisional data showed.
Market may open on flat note
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 3 points at the opening bell.
The Union Budget for 2021-2022 will be presented on February 1 and President Ram Nath Kovind will address a joint sitting of both the Houses of Parliament on January 29.
Overseas, Asian stocks are trading mixed on Wednesday as investors anxiously awaited results of U.S. runoff elections that would determine the legislative balance of power in the world's largest economy.
A private survey showed services sector activity in China expanding at a slower pace in December, with the Caixin/Markit services Purchasing Managers' Index coming in at 56.3. That compared against November's reading of 57.8.
US stocks ended higher on Tuesday in choppy trading, ahead of the outcome of the Senate runoff elections in the battleground state of Georgia, which will determine the balance of power in Washington.
Investors also looked ahead to two key elections in Georgia, which will determine whether Republicans can hold on to control in the Senate. Many fear that increased tax rates and more progressive policies could weigh on the market if Democrats gain control of the Senate. However, such an outcome could create an opportunity for a bigger and faster spending package.
In U.S. economic data, the Institute for Supply Management said its manufacturing index rose to 60.7 in December — its highest level since August 2018 — from 57.5 in November.
Back home, domestic indices ended with modest gains on Tuesday, led by strength in IT, banks and financial shares. The barometer index, the S&P BSE Sensex, gained 260.98 points or 0.54% to 48,437.78. The Nifty 50 index added 66.60 points or 0.47% to 14,199.50.
Foreign portfolio investors (FPIs) bought shares worth Rs 986.30 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 490.03 crore in the Indian equity market on 5 January, provisional data showed.
Stocks may slide in early trade
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 105 points at the opening bell.
Overseas, Asian stocks are trading mixed in Tuesday trade following an overnight drop on Wall Street as fears surrounding the coronavirus pandemic lingered.
US stocks dropped on Monday, the first trading day of 2021, amid concerns about global coronavirus cases and the Georgia runoff elections.
Investors are keeping eye on Tuesday's Senate runoffs in Georgia, which could have a big impact on incoming U.S. President Joe Biden's economic policies.
In the U.K., Prime Minister Boris Johnson imposed a national lockdown on England to curb the spread of the new coronavirus variant. As part of the new restrictions, people can only leave their homes for essentials, work if they can't from home and exercise. Most schools will also move to remote learning, including universities.
Back home, domestic equity benchmarks closed with strong gains on Monday. The barometer index, the S&P BSE Sensex, gained 307.82 points or 0.64% to 48,176.80. The Nifty 50 index rallied 114.40 points or 0.82% to 14,132.90.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,843.22 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 715.21 crore in the Indian equity market on 4 January, provisional data showed.
Indices may open on firm note
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 119 points at the opening bell.
Meanwhile, the Drugs Controller General of India (DCGI) on January 3 reportedly granted restricted emergency use authorisation for the Serum Institute of India (SII)'s 'Covishield' and Bharat Biotech's 'Covaxin' vaccines against COVID-19, the disease caused by the novel coronavirus. The 'Covishield' vaccine, developed by University of Oxford and pharmaceutical giant AstraZeneca, is being produced in the country by the Serum Institute. Bharat Biotech has developed 'Covaxin' – India's first indigenous vaccine against COVID-19.
Overseas, Asian stocks are trading mixed on Monday as the first trading day of 2021 kicked off.
A private survey released Monday showed Chinese manufacturing activity expanding in December, with the Caixin/Markit manufacturing Purchasing Managers' Index (PMI) for the month coming in at 53.0. That compared against November's reading of 54.9. The 50-level in PMI readings separates expansion from contraction.
The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) rose to a seasonally adjusted 50.0 in December from the previous month's 49.0 and a preliminary 49.7 reading.
Investors are cautiously watching runoff elections in Georgia for two U.S. Senate seats on Tuesday that will determine which party controls the Senate.
Back home, domestic shares clocked modest gains on the first day of the calendar year 2021. The barometer index, the S&P BSE Sensex, gained 117.65 points or 0.25% to 47,868.98. The Nifty 50 index added 36.75 points or 0.26% to 14,018.50.
Foreign portfolio investors (FPIs) bought shares worth Rs 506.21 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 69.40 crore in the Indian equity market on 1 January, provisional data showed.
Local stocks are likely to begin the first trading session of calendar year 2021 on a positive note.
Overseas, Asian stocks are shut today on account of New Year.
In US, Wall Street advanced on Thursday as investors closed the book on a turbulent year of pandemic, recession and recovery. All three major indexes gained ground, with the Dow and S&P 500 picking up steam in the session's final minutes to exit 2020 at record highs.
Back home, domestic equity barometers ended near the flat line on Thursday. The S&P BSE Sensex, added 5.11 points or 0.01% to 47,751.33. The Nifty 50 index lost 0.20 point to 13,981.75.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,135.59 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 257.64 crore in the Indian equity market on 31 December, provisional data showed.
Market expected to open on flat note
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 3 points at the opening bell. Trading could be volatile as traders roll over positions in the F&O segment from the near month December series to January series. The December 2020 F&O contracts expire today, 31 December 2020.
Overseas, Asian stocks are trading mixed on Thursday. Markets in Australia, Singapore and Hong Kong are set to close earlier than usual on Thursday due to New Year's Eve. Markets in Japan and South Korea are closed on Thursday for a holiday.
China on Thursday said its factory activity expanded in December. The country's official manufacturing Purchasing Managers' Index (PMI) for December came in at 51.9, according to data from the National Bureau of Statistics. That was a slight decline compared to November's reading of 52.1. Still, the December figure was above the 50-level that separates expansion from contraction.
In US, stocks closed higher on Wednesday, with the Dow Industrials nudging up to a record, as investors looked towards an improving economic outlook in 2021 on the back of COVID-19 vaccine rollouts and hopes for even more fiscal support.
On the coronavirus front, the vaccine developed by the University of Oxford and AstraZeneca received authorization on Wednesday for emergency use in the U.K. Still, the U.K. government outlined plans on Wednesday to impose stricter coronavirus restrictions on millions of people across England as a new strain of the virus spreads across the country.
Back home, domestic equity benchmarks ended with decent gains on Wednesday, rising for the sixth consecutive session. The barometer index, the S&P BSE Sensex, added 133.14 points or 0.28% at 47,746.22. The Nifty 50 index advanced 49.35 points or 0.35% to 13,981.95.
Stocks likely to open higher
Overseas, Asian stocks are trading mixed on Wednesday after major indexes on Wall Street snapped their multi-day winning streaks overnight.
In US, stocks slipped on Tuesday after reaching fresh all-time highs as traders weighed the possibility of even more fiscal stimulus being approved by Congress. All three of the major averages hit record highs at the open.
Back home, domestic equity benchmarks settled with decent gains on Tuesday, extending their uptrend for the fifth trading session. Positive global cues and robust FII inflows supported buying. The barometer index, the S&P BSE Sensex, rose 259.33 points or 0.55% to 47,613.08. The Nifty 50 index added 59.40 points or 0.43% to 13,932.60.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,349.53 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,010.50 crore in the Indian equity market on 29 December, provisional data showed.


text:
Tom Herbert
AccountingWEB
Audit crackdown: Massive increase in fines
IRIS Software Group
Personal insolvencies hit highest level in 8 years
Lifecycle now provides specialist offshore advice
Carillion collapse raises audit and governance questions
wikimedia_commons_elliott_brown_aw
Monday's news that construction giant Carillion has filed for liquidation has raised fundamental questions of its board, auditors and the government about how this could have happened.
One of the UK government's biggest contractors, the Wolverhampton-based firm had amassed more than £900m worth of debt and a £587m pension deficit before its compulsory liquidation at the start of this week.
As late as March last year board members claimed the firm had "substantial liquidity with some £1.5bn of available funding".
However, Carillion's problems began to snowball in July when it announced it was losing money on a number of large contracts and its debts were rising. Despite this, the company continued to win government contracts, leading to criticism of Carillion's management and the government as to why those contracts were tendered for and awarded.
In July 2017 chief executive Richard Howson left the company, and between July and November 2017 Carillion issued three profits warnings and saw its shares crash by 91%.
Crisis talks with the government ended this Sunday as Carillion failed to secure the funding required to support its rescue plan, and the company filed for compulsory liquidation on Monday morning, with accountancy firm PwC appointed as administrator.
Liquidation and creditor impact
Documents seen by the Financial Times show that Carillion had just £29m in cash when it collapsed. In a document for the company's insolvency process Keith Cochrane, the company's interim chief executive stated there was so little available both PwC and EY rejected requests to be taken on as administrators amid concerns they would not be paid.
A reported 30,000 small firms are owed money by the organisation, and according to a witness statement filed at the High Court by Carillion's chief executive expected recovery for creditors in liquidation is 0.8 to 6.6 pence in the pound.
Graham Randall, partner at corporate recovery specialists Quantuma, commented that the failure of Carillion will have a "serious impact on employees and its supply chain, putting the financial future of many people and smaller businesses at risk".
"Carillion appears to have won HS2 and other government contracts after their financial difficulties emerged last year," he added, "this raises significant questions over the judgment of government officials and their handling of the due diligence process that took place when these contracts were awarded."
Carillion's UK staff working in private sector jobs could also have their wages stopped on Wednesday unless their jobs are rescued by other firms, although the government has agreed to cover those working in the public sector.
Audit criticism
Some of the criticism has also focussed on KPMG, which has audited Carillion since 1999, with experts asking whether the Big Four firm had done an adequate job.
Prem Sikka, professor of accounting and finance at Sheffield University told AccountingWEB that KPMG has some "serious questions to answer".
"Carillion's accounts for the year to 31 December 2016 received a clean bill of health from KPMG on 1 March 2017," said Sikka. "KPMG said that the company was a going concern, but barely four months later the company issued a profit warning and its chief executive was sacked.
"Overall," continued Sikka, "there are questions about the robustness of KPMG audit. What did it examine to enable it to reach the conclusion that Carillion was a going concern for the next twelve months? How thorough and independent was that examination?
According Carillion's latest filed accounts, the company's biggest asset is listed as goodwill, something Sikka expressed surprise and concern.
"How on earth do you raise new finance by offering goodwill as a security? How on earth did somebody come to conclude that the business had the ability to raise enough finance to remain a going concern?
"About £1.57bn was listed as goodwill. It's a ridiculous amount and that means there's hardly anything you can realise into cash, especially on liquidation when the whole thing is a dead loss."
Investigative powers
A statement from the Financial Reporting Council said the watchdog has been "actively monitoring this situation for some time in close consultation with other relevant regulatory bodies.
"We have powers to investigate the circumstances relating to the audit of Carillion as well as the actions of the relevant accounting professionals," continued the statement, "We are obliged to follow due process and will make a further statement on this matter shortly."
KPMG said it would "co-operate fully" with any inquiry, and said its audits had been "conducted appropriately and responsibly".
"We recognise that it is important that regulators acting in the public interest review high profile cases," said a spokesperson, "and will of course cooperate fully with any enquiries that the FRC or other regulatory agencies may make."
Commenting on the failure MP Frank Field, chair of the work and pensions select committee, said: "Carillion took on mega borrowings while its pension deficit ballooned. We called over a year ago for [The Pension Regulator] to have mandatory clearance powers for corporate activities like these that put pension schemes at risk, and powers to impose truly deterrent fines that would focus boardroom minds.
"It seems we have a new case like this every week," continued Field, "and this one is particularly disastrous, with massive job losses and 28,000 current and future pensioners at risk. I would like to ask the Government today: what more is it going to take?"
'Nothing has changed': Two years on from Carillion
Brydon audit review: 'Less talk, more action'
Grant Thornton fined for inadequate audit
Tom is a business journalist specialising in business, accounting and technology.
Read more from Tom Herbert
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By lionofludesch
I bet the directors got paid OK.
By Democratus
Yes. I'd say they got the cash and everyone else can have the goodwill.
The Construction Industry is one of the worst industries I have ever worked where suppliers and sub contractors are being used to fund projects, take the blame for other's errors, subjected to retentions which are never expected to be paid by the Contractor, or at least subject to "negotiation", where goods installed on site, even if not paid for "belong" to the Main Contractor and anyone foolish enough to ask for payment is threatened with no further work being offered and/or tied up in spurious QS challenges so that payment is not likely without a "deal".
Also requires a lot of "inverted commas" it seems.
By mr. mischief
Another well dodgy audit by the well dodgy accountants who run the profession. I expect no action to be taken whatsoever by the ICAEW or whatever other accountancy body the dodgy auditor qualified under.
Replying to mr. mischief:
By DMBAcc
Bit like MTD. Big four and CCAB Bodies well up for it and screw the rest of us who will pick up extra costs with no benefits
By Hugo McNestry
My experience in Italy was that we asked a contractor to prove that the sub contractors were paid out on the previous certified work before the subsequent certified installment payment. There was concern that the subs would have recourse to the client. The government could have done that at least. If the business needed the WC from the subs to survive it is a clear issue.
By SJH-ADVDIPMA
Massive goodwill means massive overpayment for acquisitions.
The government should create a law which sees the financial appraisals(say more than £25m consideration) of all acquisitions undertaken by listed entities audited by an accounting firm other than the main auditor.
Its easy to twiddle a few variables on dcf's to create wild values, and executives do it for various reasons mostly nefarious.
We really do have to put better barriers in, these well paid governor's are often just eye candy.
Replying to SJH-ADVDIPMA:
By Prem Sikka
"Massive goodwill means massive overpayment for acquisitions". No, it does not necessarily mean that. Goodwill is mainly there because of the primitiveness of accounting thought. Let us lo0ok at an example, a pair of shoes may sell for £50 but accountants are not used to recording the cost of the whole. they like to record costs/value of items individually. so they ask what one shoe and then the second shoe is worth. The answer may be £1 each. This formulation leads to a goodwill of £48 but there are no missing or lurking assets. In the market, assets are traded at whatever price they can fetch and buyers pay on the basis of whatever the cash flow generating potential of the collection of assets, which complement each other, may be. Accountants can't cope with that then revert to old and discredited practices. The term goodwill mystifies financial reporting and does not tell users anything about the nature of the asset/advantage used to generate cash flows. In the case of Carillion, it is doubtful that even conventional accounting logic should have enabled it to report a massive goodwill figure as it was in dire financial problems, had low margins and was technically insolvent.
https://leftfootforward.org/2018/01/carillion-was-in-dire-financial-trou...
Replying to premsikka:
Goodwill is there (in the case of purchased goodwill resulting from business acquisition) because the double entry needs to be completed, value of identifiable assets/obligations acquired are debited/credited to the balance sheet, what about the premium,if the directors insist through their calculations the amount paid is approximating npv of future cash flows, we allow that portion of expenditure to be shown as an asset, as theoretically thats what the cash bought, its still worth that if it were to be flipped. An annual impairment review should let it be, or instigate a write down. A common tactic ive seen in listed companies is the creation of exaggerated obligations (e.g constructive obligations such as provisions set aside to bring health and safety aspects of acquired sites up to date), this increases goodwill, the provisions are then quietly dropped (through income statement) to boost income in that year (a few yrs post acquisition when the auditors forgotten).
Looking at carrilions 2015 accounts the majority of their £1.6b goodwill "arising from business combinations" the accounts also detail acquisitions (rokstad and carrillionamey)where £78m was paid, and identifiable net assets were a paltry £16m, 20% of consideration. Sounds an awful deal and or foul play in identifying obligations.
What I am saying is that accounting logic is faulty. It harks back to the days when the embryonic accounting profession mainly did bankruptcy work and the emphasis was on looking at the worth/value of assets individually rather than collectively and how they complemented each other to generate cash flows. When Carillion bought other businesses it sought to acquire many economic advantages including government links, names, etc., which conventional accounting logic does not recognise as assets. so it is all lumped into a meaningful figure.
I think the initial recognition of goodwill on business acquisition is sound enough if the appraisal (and subsequent annual appraisal)of the assets value is sound (cannot carry more than an assets value), hence my comment that big deals need independent audit oversight. As you say, £1.6b biggest asset and a liquidated business= problem, my conclusion is paid too much and or abused the goodwill value to prop up paper profits.
By alan.falcondale
Same old same old,, the entrenched auditors claim they worked to the best of their abilities given the information available.
firmly believe no auditors should be able to perform audits for more than 2 consecutive terms
By davidbrewster
Well at least the Financial Conduct Authority has got something right as they do not allow licencees to declare goodwill in compliance Balance Sheets.
By artofnumbers
1. The Insolvency Service should force KPMG to pay PwC for the administration costs, no costs should be borne by the tax payer.
2. Directors' pay, dividends and bonuses immediately stopped. Think that's already happened.
3. Government accept total responsibility for it's total mishandling. Contracts should never have been cemented after the 1st profit warning last summer.
The PM's response that "they" were the customer NOT the manager, clearly shows a lack of basic knowledge.
The Government are supposed to be in charge of the Public Sector. If they are so worried about cost saving, how do they explain PFI and PF2, where the taxpayers are going to have to pay out over £200 billion over the next 20 years or so.
The knock on effect in the construction industry, especially with small limited and unincorporated businesses will be massive.
By North East Accountant
A nice little merry go round for those at the top.
Banks lend to VC's and big companies to load companies with debt and everyone (banks, big law firm, big accountants etc) makes money at every turn.
When the music stops the small company supplier and taxpayer pick up the tab and the big boys move onto the next merry go round.
My initial estimate is PWC will make over £100 million in fees out of this as "special managers".
By ASF
Carillion were well known in the industry for a number of years, for having a particularly "robust" approach to contract and cash flow management. The press makes hay over their use of such things as "reverse factoring", but these types of payment schemes have been industry-wide for decades. When the clients didn't commit to things such as 30-day payment terms, the main contractors were forced to use these schemes to generate cash flow. Also, widely spread stage payments on major contracts (as opposed to monthly valuations) only make matters worse. The headline 3% margins talked of don't help, but the whole construction world (including in foreign countries) has operated with these for a long time. I worked for US companies, and this was also the norm. QS' have a phrase "Change is your friend", meaning bid low and try to turn things around by variations on the contract. Some days it worked - some days it didn't. But, when you have very little CAPEX on your own B/S (assuming the industry rents plant from its subcontractors (which many do), the ROCE can still look quite good, when early/quick payment schemes are used, and a lot of people look at that as a measure. Free Cash Flow as a % of Turnover might have been a good measure, but only if adjusted for advance payments first. It is a very delicate balancing act, and the challenge is often to have a sufficiently large and diversified portfolio of business, to help ensure that "dogs" are more than covered by the "stars". Sad to see so many suffering for this, but not entirely a surprise. Corporate governance is a key factor in this, and of course, being held to account by the NEDs/Auditors/regulators. Monday morning quarterbacking is not a solution!
By Suntree
Enron collapse in US, resulted in Sarbanes-Oxley act being introduced and one of the big five Arthur Andersen LLP being wiped out.
One would think UK government would follow the trait and introduce legislation preventing collapse of giants of this scale leaving little people to pick up pieces and to pay for it.
Will KPMG suffer the consequences?
Quite a few bankruptcies of small contractors will follow, but are they relevant to fat cats?
Would like to see undeniable proof there was no corruption in handing Carillion overwhelming quantity of government contracts.
Putting all the eggs into one basket springs to mind.
By DJKL
It is essentially the same issue as the sub prime debacle, not being able to recognise the assets and liabilities from contracts so profit measurement is a fiction and they then do not know what is profitable to undertake and what is not.
This leads long term to the acquisition of more and more c**p on the balance sheet; more accurate and timely measurement might have stopped them digging the hole to such an extent they all fell in to it.
Why can't the Government run these contracts itself ?
Why do they have to pay some company, run by their cronies, to be middleman ?
Someone must have enough evidence to submit an SAR ...
Replying to lionofludesch:
31st Jan 2018 15:36
Two words, "Edinburgh Trams".
Now I appreciate it was not the Scottish Government running it, they merely pushed it along the track, but we have half the length of track for double what we were going to pay for the whole, Leith Walk was a shambles for years, traders on it suffered, yet trams never reached that far. Now they look like building the other bit we are eagerly anticipating more years of chaos.
This is why government/local authorities ought not to be allowed to build anything. Still, it is not much better with PFI, with a wall falling killing a pupil and a fair few schools needing to be shut (including my wife's ) whilst they worked out if the cladding was tied to the building.
Replying to DJKL:
It's never going to be much of a service if the trams get pushed along the tracks by the Scottish Government. You need electricity.
You confuse two issues. Competency and Cronyism.
Competence can be bad in the public or private sectors.
Cronyism is about giving companies run by your mates a lot of money. Who in their right minds would deal with Philip Green ?
By Knight Rider
Because the private sector will do it better and more efficiently.
Replying to Knight Rider:
I'm not seeing much evidence of that.

redpajama_set_name: RedPajamaCommonCrawl


Born in the beautiful Pfalz region of southwestern Germany, I studied Geology at the University of Mainz, Germany, and the University of Glasgow, Scotland, receiving a Diplom (M.Sc.) in Geology in 2000 with a thesis about mass transfer and element mobility in metasedimentary rocks of the Caples Terrane (South Island, New Zealand). In 2003, I obtained a doctorate (Dr. rer. nat.) in Mineralogy from the University of Tübingen, Germany, with a thesis about petrological and isotope geochemical investigations of carbonatites, basalts, gabbros and anorthosites of the Gardar Province (South Greenland).
I held postdoctoral positions at the Institut de Physique du Globe (Paris, France), the University of Maryland (USA), and the Universities of Kiel and Potsdam (Germany). I was awarded a Feodor-Lynen research fellowship from the Alexander-von-Humboldt Foundation in 2005 and the Habilitation (Facultas Docendi) in Geochemistry with a thesis about tracking geochemical cycling using novel stable isotope systems from the University of Kiel in 2011. I was appointed lecturer in Igneous and Metamorphic Petrology at Keele University in 2015.
Past and present field areas of my research are in the Gardar Province (South Greenland), the Raspas Complex (Ecuador), the Coastal Cordillera (Chile), the Lesser Caucasus Volcanic Belt (Armenia) and the Sesia Zone (Western Alps, Italy).
I am a member of the Keele Petrology Group and of the Deutsche Mineralogische Gesellschaft, the European Association of Geochemistry, the American Geophysical Union and the Mineralogical Society of Great Britain and Ireland. Besides activities as session convener and reviewer for science foundations, I have written more than 50 reviews for scientific journals and acted as topic editor for the International Journal of Earth Science in a special volume about "Volatiles and Fluids in Subduction Zones". Since 2016, I am Chief Editor of the Journal of Mineralogy and Geochemistry (Neues Jahrbuch für Mineralogie).
Connor C, Connor L, Halama R, Meliksetian K, Savov IP. Volcanic hazard assessment of the Armenia Nuclear Power Plant site.
Rebecca Wiltshire. PhD title: The transitions in eruption styles of arc eruptions.
Sean Whitley. PhD title: Xenoliths as tracers of magmatic and intra-crustal processes at subduction zone volcanoes.
F. van der Straaten. 2008. Retrogression of eclogites to blueschists: a record of fluid infiltration during uplift in subduction zones. Unpublished PhD thesis, University of Kiel, Germany.
J. Funnell. 2017. Inferring crystallisation and emplacement processes in the Upper Zone of the Bushveld complex through analysis of magnetite and gabbronorite samples. Unpublished MGeo thesis, Keele University.
K. Mclaren. 2017. Origin of the felsic xenoliths of the Garusar cinder cone, Armenia: Implications for the mechanisms of melting in that region. Unpublished MSc thesis, Keele University.


text:
La Grande moschea è una moschea di Djenné, nella regione di Mopti, in Mali,

Lo stile architettonico è quello sudanese-saheliano, con influssi islamici. Il primo edificio risale al XIII secolo, mentre quello attuale è del 1907.

Si trova nel centro della città di Djenné e con tutta la città è dal 1988 Patrimonio dell'umanità dell'UNESCO.

Storia
Un primo edificio adibito a moschea venne costruito nella città di Djenné, nella piana alluvionale del fiume Bani, affluente del Niger, in un luogo precedentemente occupato da un palazzo.

La costruzione fu ordinata nel 1240 da Koi Kunboro, prima che Djenné divenisse una delle principali città dell'impero del Mali dopo Songhai. La moschea originale ospitava uno dei centri di insegnamento islamico più importanti dell'Africa durante tutto il Medioevo

Il conquistatore di Djenné Amadou Lobbo (1818-1893) la fece demolire, ritenendo che il palazzo dal quale era stata ricavata fosse troppo ricco per ospitare una moschea: dell'edificio originario demolito resta solamente un recinto con le tombe dei capi locali.

Una ricostruzione identica dell'originale edificio venne completata nel 1896 e fu in seguito nuovamente demolita per essere ancora ricostruita con l'edificio attuale. La costruzione di questo iniziò nel 1906 e fu probabilmente completata nel 1907 o 1909. I lavori di costruzione furono diretti dal capo della corporazione dei muratori di Djenné, Ismaïla Traoré, quando Djenné apparteneva al territorio dell'Africa Occidentale Francese: fu probabilmente il governo coloniale francese che aiutò la ricostruzione della moschea, insieme a quella della vicina madrasa dal punto di vista sia finanziario sia economico.

Tecnica di costruzione
L'edificio in adobe o terra cruda, è costruito con il sistema djennè-ferey, il metodo di costruzione tradizionale, consistente in una sovrapposizione di palle di terra cruda ancora bagnata, che ricopre il ruolo sia di mattone che di legante. Questa tecnica si differenzia da quella del toubabou-ferey, introdotta dagli occidentali, con la fabbricazione di mattoni crudi seccati, tenuti insieme da terra cruda ancora bagnata come legante.

Descrizione
La moschea ha una pianta quadrata, di 75 m di lato, con un'altezza di 20 m. Il tetto è sostenuto da 90 pilastri ed è dotato da 104 fori di aerazione. La moschea può contenere mille persone.

La quibla è rivolta ad est, in direzione di La Mecca e si affaccia all'esterno sulla piazza del mercato di Djenné. Sporgono da esso tre grandi minareti a pianta rettangolare, e 18 contrafforti. I minareti presentano scale a chiocciola che conducono alla piattaforma sommitale e sono coronati da un cono sormontato da un uovo di struzzo.

I muri presentano da 40 a 60 cm di spessore, in proporzione alla loro altezza e dunque al loro peso. Sono costituiti da mattoni di terra cruda, chiamati "ferrei", collegati da un legante e rivestiti da uno strato, entrambi sempre in terra cruda: in tal modo l'edificio presenta forme delicatamente arrotondate. Dei fasci di rami di palma sono affondati nella profondità dei muri per assorbire le microfessure derivanti dalle diverse reazioni del materiale ai cambiamenti di temperatura e di umidità, dando all'edificio l'aspetto a istrice caratteristico. Le pareti in terra isolano durante la giornata l'interno dell'edificio dal calore più forte, assicurando la regolazione termica con le notti più fresche. Dei gocciolatoi costituiti da tubi in terra sporgono dal bordo del tetto, consentendo di gettare l'acqua piovana lontana dai muri.

La metà dello spazio interno è coperta, mentre l'altra è un cortile di preghiera scoperto. Il tetto è rivestito da 90 pilastri in legno ripartiti su tutta la superficie. I fori di aerazione sul tetto sono rivestiti da cupolette in ceramica che impediscono alla pioggia di entrare, ma che possono essere ritirate quando la temperatura dell'interno diventa troppo alta.

Una seconda sala di preghiera è sistemata in un recinto chiuso ad est, dietro la parte coperta, delimitata da muri esterni verso nord, sud ed ovest, ed è circondata da arcate. I muri dell'arcata tra la sala coperta e la corte di preghiera sono aperti da aperture voltate di 15 m di altezza, che permettono la vista dell'interno e la circolazione delle persone.

Il rischio di danneggiamento per le acque piovane o per le inondazioni annuali del Bani, fu la principale preoccupazione del capomastro che diresse la costruzione: la moschea è stata per questo motivo elevata su una piattaforma sopraelevata con una superficie di 5.625 m²

Aspetti culturali
Tutta la comunità degli abitanti di Djenné prende parte attiva alla manutenzione della moschea, nel quadro delle festività annuali: i lavori sono condotti con metodi tradizionali e al suono della musica. Questa manutenzione regolare è resa necessaria dalle caratteristiche di fragilità del materiale utilizzato per la costruzione, che subisce una forte erosione per l'azione combinata della pioggia, dell'irraggiamento solare e dei cambiamenti di temperatura, che provocano spaccature. Nei giorni che precedono le feste, viene preparata una grande quantità di rivestimento, con diverse giornate di lavoro: questo intonaco pastoso deve essere periodicamente mescolato, compito svolto dai bambini che vi giocano dentro. Quindi i giovani si arrampicano sulle pareti della moschea, aiutati dai ponteggi permanenti costituiti dai fasci di rami di palma inseriti nel muro, e procedono a coprire completamente i muri con un nuovo strato di materiale di rivestimento, che viene loro portato da altri uomini. Le donne portano l'acqua necessaria alla fabbricazione dell'intonaco o per gli uomini che lavorano. Tutto il procedimento è diretto dai membri eminenti della corporazione dei muratori, mentre gli anziani, che essi stessi hanno compiuto in passato la medesima opera, sono seduti al posto d'onore e assistono all'intera operazione.

Altri progetti

Collegamenti esterni

Moschee del Mali
Architettura del Sahel
Djenné

redpajama_set_name: RedPajamaWikipedia


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F1 2013 Classic Edition Upgrade DLC
By VELOCIPEDE, January 15, 2014 in F1 2013 by Codemasters
You can now expand F1 2013's classic content with the Classic Edition Upgrade DLC! The bundle combines both the 1990s Car Pack and the Classic Track pack, providing you with all the extra content found in the original F1 2013: Classic Edition. The bundle contains 6 classic F1 cars, 2 iconic circuits, and a host of legendary F1 drivers to race as. And don't forget, you can race classic and modern cars on any circuit in the game: fancy racing Mansell's 92 Williams around Abu Dhabi? You can! Or how about Vettel's 2013 RB9 on Imola? You can!
F1 Classics: 1990s Pack
1992 Ferrari F92 A – Jean Alesi & Ivan Capelli
1992 Williams FW14B – Nigel Mansell & David Coulthard
1996 Ferrari F310 – Michael Schumacher & Gerhard Berger
1996 Williams FW18 – Damon Hill & Jacques Villeneuve
1999 Ferrari F399 – Eddie Irvine & Jody Scheckter
1999 Williams FW21 – Ralf Schumacher & Alain Prost
F1 Classics: Classic Tracks Pack
Imola, former host of the the San Marino Grand Prix
Estoril, former home of Portuguese Grand Prix
The F1 2013 Classic Edition Upgrade DLC is available now from $12.49/£9.69/€11.99 on the Xbox LIVE Marketplace, PlayStation Store and Steam.


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Gaza horse riders compete again as coronavirus curbs eased
Dressmakers keep Palestinian tradition alive in refugee camp in Jordan
George III's gold Breguet watch to be auctioned in London
Slovenia wins its first Michelin stars
Designers fashion a go-slow future for catwalks and collections
Thailand's roving dog groomer back in business
Need a bit more human contact? So do London Zoo's gorillas
They call it puppy love: Lockdown Britain sees surge in demand for dogs
The future is orange: Campari tests selling Aperol in China
Britain's Banksy depicts U.S. flag on fire in Floyd tribute
News Talkz
Home/Health/Anti-vaping advocates push to raise minimum age for nicotine: "The addicted mind justifies some crazy things"
Anti-vaping advocates push to raise minimum age for nicotine: "The addicted mind justifies some crazy things"
"The addicted mind justifies some crazy things," said Matt Murphy. The 19-year-old got hooked on nicotine in high school, and what began as experimentation with vaping turned into an addiction.
"That snowballed into me having a neurochemical dependency on it without me even knowing," he said.
His addiction followed him to college: "I would be studying in the library and I would have to bike back to the dorm, like, every 20 minutes."
E-cigarette use among middle and high school students is rising sharply.
E-cigarette use among middle and high school students is rising sharply. In 2018 nearly five percent (or one in 20) middle school students reported trying e-cigarettes within the last 30 days. That's up from less than 1 percent in 2011.
Among high schoolers, that number jumped from 1.5% in 2011 to more than 20% in 2018.
And that kind of jump has doctors and health officials concerned.
"Nicotine is one of the most addictive chemicals known to man," said Dr. Sharon Levy. "And we know that some kids are getting addicted with really just a handful of uses. Nicotine can interfere with memory and can interfere with learning, particularly in younger individuals."
Teens addicted to vaping face lack of treatment options
Eighteen-year-old high school senior Sarah Ryan said she knows very few young people who haven't been exposed to this issue, whether through themselves or through their friends. "These products are used by kids at every age," she said.
She calls herself an anti-tobacco and vaping activist, who wants the legal age to buy these products raised to 21. "These products shouldn't be a part of high school culture," she told CBS News medical contributor Dr. Tara Narula. "And 18-year-olds are still in high school. So, if the age to purchase tobacco was 18, then it has a bigger influence in a younger set of people. Because even if you're not 18, and you're 16, you hang out with 18-year-olds. And those 18-year-olds might be using the product."
Dr. Narula asked, "Why do you think it's been so hard to get this kind of legislation passed in the rest of the country?"
"I think that there's just the same arguments about, 'Well, if you're old enough to die for your country, why can't you buy a cigarette, or smoke or vape or whatever have you?'" Ryan replied.
But that is beginning to change. Nine states have passed legislation to raise the legal age for tobacco and vaping products to 21, and hundreds more cities, counties and towns have as well.
The latest state to do so is Illinois; yesterday, Gov. J.B. Pritzker signed a bill increasing the limit from 18 to 21.
And on Thursday, Congressman Robert Aderholt (R-Ala.) introduced a bill that would make 21 the legal age nationwide, the Stopping Consumption of Tobacco by Teens (SCOTT Act).
Dr. Levy said, "The younger you are when you start using a substance, the more vulnerable you are to becoming addicted. And that's because as the brain develops, it just becomes a little bit more resistant to the neurologic changes that are associated with addiction."
Matt Murphy kicked his habit nine months ago, and has become an anti-nicotine advocate himself. His biggest message to teens thinking of vaping? "It is way easier to prevent than it is to stop," he said. "If you never dig yourself a hole, you never have to climb out of the hole. Just don't start digging."
Juul, which makes up about 75 percent of the U.S. e-cigarette market, told CBS News it "strongly supports" raising the buying age for tobacco and vaping products to 21. Juul said one of the biggest problems is sharing by legal-age peers.
The company said it will continue to work with lawmakers to reduce youth-use rates.
Britain plans social media watchdog to battle harmful content
Weather may halt Tuesday launch
Coronavirus Task Force update on COVID-19 response – watch live stream today
U.S. likely to see 50,000 COVID-19 deaths by weekend
Texas says its ban on abortion is over
2 pet cats test positive for COVID-19 in New York, USDA says
Democratic debates 2019: Schedule, candidates, start time, watch online stream, on TV, for the first DNC debate of 2020 election season
Ford Explorer recall: Toe link suspension issue causes Ford recalls of 1.3 million Explorer SUVs, F-150 pickups, Taurus, , Flex and Lincoln vehicles
Beef recall: More than 62000 pounds of raw beef products recalled nationwide due to E. coli risk
Khachaturyan sisters in Russia killed father, charged with murder
Texas mayor Richard Molina arrested, charged with voter fraud
News From All Over World
Russia will follow US footsteps and abandon INF treaty, Putin says
Trump administration withdraws from U.S.-Russia nuclear weapons treaty
Ohio deputy killed, another injured during overnight standoff
Botswana offers U.S. a valuable lesson about achieving racial harmony
Accused drug lord allegedly had sex with underage girls


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<?php

namespace Imbo\Exception;

/**
 * Configuration exception - thrown if the configuration provided to a module is invalid or missing.
 *
 *
 * @author Mats Lindh <mats@lindh.no>
 * @package Exceptions
 */
class ConfigurationException extends RuntimeException {}

redpajama_set_name: RedPajamaGithub


Find out why the guys from Beer Country love this style of beer.
We LOVE beer. Not in in a sunflowers and puppies kinda way. It's more of a GIVE-US-ALL-THE-BEERS-YOU-HAVE kinda way. Yup, this river of malted barley, water, hops and yeast runs way, way deep. From lagers and pilsners to ambers, stouts and IPAs, our well-oiled journey is a hop-fuelled rollercoaster hell-bent on uncovering South Africa's best beers.
Our mission is to make sure you never again worry about picking the beer that may or may not start your eye twitching and have you growling like a grizzly gnawing on a cactus. Today we're talking about my favourite beer - Amber Ale.
A great amber ale gives you a warm, fuzzy feeling in the depths of your soul. It's like getting the girl and riding off into the sunset. These ales can be anything from light amber to deep red - a colour they get from the malted barley used in the mash. Lightly roasted or caramelised malts give you lighter colour ales, while the heavier malts start you on the path to the dark side.
It's no joke when they say sugar and spice and all things nice, and ambers are chock-full of flavours from light caramel to burnt sugar. Throw a hop-profile on top of that, which can be anything from a tropical nectar kick to a citrus uppercut, and you have a knockout combo. American ambers tend to be hop-forward (aromatic, crisp and bitter) with a malty backbone, while the English versions put the warm malt profile front and center, which rounds the corners and makes for a slightly bitter finish.
Ambers pair perfectly with most food cooked over the coals. But for some next-level beer pairing, try them with bon-fires on the beach, Johnny Clegg tunes or dusty Karoo landscapes! Yup, not only is it tasty, it's versatile. As for the braai, I'd recommend some serious BBQ ribs, the kind that make your guests scream, "Holy smokey baby-backs Batman!" Wash 'em down with a tasty amber and see how the sweet, roasted malts in the beer play perfectly with the thick, smoked caramelisation of the ribs.
These tasty beverages mean business while not taking themselves too seriously. Internationally they have names like: Ambergeddon, Red Hoptober, Fire & Blood, Ginger Twin, Red Rock and Hello-my-name-is-Amber. Locally get your hands on some excellent offerings like: Devil's Peak Woodhead, Jack Black's Lumberjack and Citizen Alliance to name a few.
Get your tickets to the Cape Festival of Beer NOW, and check out all the amazing beers under one roof. Alternatively, order a case or three online.
Mash: The first step in the brewing process, where milled grain (malted barley) and water is combined and heated in the Mash Tun, allowing the enzymes to convert the starches in the grains to sugars, and giving the liquid (called the Wort) it's colour.
Written by: Beer Country, two of the thirstiest guys on the planet - Greg and Karl. Follow their fire-side journey as they crack open the brew culture of South Africa, discovering awesome beers and cooking great food along the way. This hoppy adventure is coming soon to a TV near you!


Whoa! This was a beautiful dessert! I loved it, but more importantly, my girlfriend loved it! This was her 39th birthday cake that I made for her. She requested a chocolate and mint cake and gave me freedom to work my magic and come up with something amazing for her.
I like to think that I succeeded.
Carrie and have have been friends since 1998! We are the same age and have similar interests. We've been there for each other over the years and I am so happy to have such a great friend.
We first met working at a small town airport. I was a poor flight instructor at the airport (and working a second job there) and she took a second job on the weekends there. We became fast friends (mainly because there aren't many gals hanging out at airports) and eventually she got her private pilots license with me as her instructor.
We've been through boyfriends, vacations, birthday's, ups and downs, and my daughter even calls her Aunt. Since our joint 30th birthday, we've been in discussion about our quickly approaching 40th birthday bash. I want to go to NYC… we'll see where we end up.
She's a Thanksgiving baby and as a result, she's usually back home with her family that time of year. She's also had her fair share of birthday pie, but hasn't had a real birthday cake in the past 4 years. I wanted to do my best to make her feel special for her final birthday in her 30's.
Wouldn't you love to get this cake for your special day? I know I would!
And easy roll cake with Mint Chocolate Chip Ice Cream and Ombre Cream Cheese Mints.
Preheat the oven to 400°F. Spray 15-1/2 x 10-1/2 x 1-inch jelly-roll pan with nonstick cooking spray. Line with parchment paper; spray again.
Sift together flour, cocoa and baking powder.
In a stand up mixer, beat the eggs, sugar and vanilla until pale in color, about 5 minutes. Fold in dry cocoa mixture; spread batter into prepared pan. It will be thin.
Bake 5 - 7 minutes or until top springs back when touched lightly in center. Flip the cake onto clean towel dusted with powdered sugar and remove the paper. Roll up cake with towel from short side. Cool completely on wire rack.
Carefully unroll the cake spread about 3 cups of the Mint Chip Ice Cream on to the cake. Re-roll the cake (without towel) leaving the seam-side down.
Whip the cream, cocoa and sugar until soft peaks form. Trim off the edges, frost the frozen cake and attach the Cream Cheese Mints. Keep the cake frozen until ready to serve.
Thanks! A show-stopped dessert always the end goal!
This looks SO tasty!! Thanks for linking up with Show Stopper Saturday!
It was AMAZING! We loved it!
I love this Karyn! This are being featured at Best of the Weekend on my blog tonight!
AWESOME! I always appreciate the feature 🙂 Thanks!
What a beautiful cake. Love all the embellishments on top! Yum! Visiting from The Pin Junkie!
Thanks! The Roses on top make a huge difference to the cake. I think it's a perfect girly cake!


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collapse Tell us about your work
If you're involved in threatened species conservation work, we'd like to hear from you.
Complete our surveys
Most questions in our short surveys involve ticking the box that best describes the type of work you are doing and where you are doing it. The surveys takes no longer than five minutes to complete.
Academics and researchers
If you're researching threatened species at either an organisation or independently, please fill in this short survey to tell us about your work.
Complete survey
Land managers and conservation groups
If you're a land manager, conservation group, or other non-government organisation please fill in this short survey to tell us about your work.
How will your information help?
Information you provide:
will help the NSW Department of Planning, Industry and Environment develop a comprehensive overview of threatened species conservation
may influence future decisions about threatened species management in NSW.
Visit help save our threatened species for opportunities to volunteer or join a local conservation group.
You can also contact us and let us know how you, your school or community are involved in saving our threatened species.
The information you provide in this form will be used only for the purpose for which it was collected. By submitting this form you consent to the storage, use and disclosure of your personal information in accordance with our privacy policy.
The Department of Planning, Industry and Environment must comply with the NSW Privacy and Personal Information Protection Act 1998 which regulates the collection, storage, quality, use and disclosure of personal information.
For more information see our privacy page.
Page last updated 26 November 2019
Saving our Species 2016-2021
The NSW Government is investing $100 million over five years in saving more threatened animals and plants from extinction. The funds are allocated from 2016 to 2021 to Saving our Species, NSW's leading threatened species conservation program.


Your Leader for Garage Door Services in Boulder, CO and Nearby Areas.
One of the main functions of your garage door is to protect your house or business. If it is not functioning, your property is in significant danger. In order to support our neighbors, Smart Garage Door Service offers professional garage door services in Boulder, CO. Our office knows how much a well working garage door means to you, and we promise that we can keep yours in perfect working condition. For your installation or routine appointment, give us a ring at (720) 340-7916. We strive to ensure that your garage door is functioning better than ever. In order to accomplish this objective we work with outstanding manufacturers to provide only the best quality garage door equipment and hardware.
You cannot predict when your garage door is going to break down. If your garage door does begin breaking downing, Smart Garage Door Service is willing to help get it back in shape. Our services include inspections, repairs and parts replacement. We can help fix any type of garage door problem, including minor storm damage. Our staff is also prepared to help with all the maintenance you might need for your garage door. The tracks and pulleys of your garage door need to be washed or oiled at minimum two times annually. When you need any kind of garage door services in Boulder, CO, review our services below, or you can always call us at (720) 340-7916 to schedule an appointment.
Garage Door Opener Replacement & Repair When you need a new garage door opener, we can offer you some of the finest systems available.
Garage Door Pulley Replacement & Repair When you hear a loud grinding sound as the garage door moves, you might need to replace your pulley wheel.
Garage Door Cable Replacement & Repair It is important to maintain the cables in your garage door due to the fact they are an important safety element.
Garage Door Remote Replacement & Reprogramming Call our staff to set an appointment to reprogram your garage door remote or keyless entrance pad.
Garage Door Car Remotes Reprogramming I you've lost your car garage door remote, or it doesn't work anymore, contact us and set up a replacement.
Garage Door Rollers Replacement & Repair We provide lubrication, cleaning, replacement and repairs for your garage door rollers.
Garage Door Tracks Replacement & Repair If your garage door tracks are warped or out of alignment, contact our staff.
Garage Door Weather Seal Installation Installing weather stripping around your garage door can increase the energy efficiency of your building or residence.
Garage Door Section & Panel Replacement We provide services to repair portions of your garage door.
Garage Door Brackets Repair & Replacement If your garage door bracket breaks, it will cause significant damage to your door. Let us fortify it.
Garage Door Hinges Repair & Replacement We provide repair and installation services for the hinges between your garage door panels.
Garage Door Lock Repair & Replacement Installing a garage door lock can increase the safety of your residence or building.
Jackshaft Garage Door Openers These end mounted garage door openers free up extra storage areas in your garage.
Garage Door Replacement & Installation If your current garage door is beyond repair, let us put in a new one.
Emergency Overhead Door Repairs If you have an emergency situationwith your garage door, contact our staff.
Garage Door Maintenance & Inspection Stay on top of serious garage door concerns by allowing us to perform a routine inspection.
Garage Door Tension Adjustment We have all the knowledge necessary to fix the tension in your garage door.
Dented Garage Door Repair If your garage door is dented, set an appointment for repairs.
Garage Door Oil & Lubricration We provide services to keep your garage door working like a well oiled machine.
Stuck or Jammed Garage Door Repair When you have a stuck garage door, call our office.
Repair for Garage Door Not Closing All the Way When you aren't able to get your garage door to close, call us as soon as you can.
Crooked Garage Door Repair If your garage door is crooked, call us. We can align it.
It is imperative to resolve garage door concerns as quickly as possible because all the different elements are so directly interconnected. Waiting could end in major destruction of multiple parts of the door. Let Smart Garage Door Service help you keep on top of significant garage door concerns by completing a routine inspection every nine months. If you're interested in hiring us for your garage door services in Boulder, CO call our staff at (720) 340-7916.


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New GAA Fund To Further Responsible Aquaculture
The Global Aquaculture Alliance is launching an initiative to finance a range of projects to further responsible aquaculture and ultimately increase the availability of certified seafood production worldwide, the organization announced in early February
The Global Aquaculture Alliance is launching an initiative to finance a range of projects to further responsible aquaculture and ultimately increase the availability of certified seafood production worldwide, the organization announced in early February.
GAA Executive Director Wally Stevens made the announcement on the first day of the SeaWeb Seafood Summit in New Orleans, Louisiana, USA. Stevens is one of four speakers who addressed the future of aquaculture during the opening plenary.
GAA is creating the yet-to-be-named fund, beginning with $250,000, to support improver projects designed to make an enduring and tangible difference on the ground in the field of aquaculture.
GAA invites stakeholders to co-finance projects in line with GAA's mission of feeding the world through responsible aquaculture, including individuals, researchers, academics and industry members.
The fund is being administered by the Responsible Aquaculture Foundation. It will be managed by GAA Development Director Iain Shone, Best Aquaculture Practices Standards Coordinator Dan Lee and Matt Thompson, aquaculture project lead at the New England Aquarium.
IFFO Releases New Version of Responsible Supply Standard
Andrew Jackson, IFFO wins SeaWeb Award


The Eternity War: Exodus is the adrenaline-fuelled second novel in the Eternity War – a new SF trilogy from Jamie Sawyer, set in the same universe as his acclaimed Lazarus War novels.
For a long, hurt moment Clade Cooper – former Alliance Army Ranger, more recently turned head of the Black Spiral terrorist organisation – was back there.
Cooper spluttered, cried out. Gasped for breath like a drowning man. The burn in his chest felt so real that he put a hand there, and held it. Clutched at his own beating heart.
It's a dream. Just a dream. Nothing more.
Finally, when Cooper knew he could accept it, he sighed to the dark. Let his breathing fall into a rhythm, and was glad when the hot, dry air filled his lungs. That was the good hurt. But the nightmare lingered, a guest outstaying its welcome, and that was the bad hurt. The horror had been warm, and very wet, pervading every element of his body.
One leg out of the bunk. Foot to the cold floor. Pain crept through the limb and it took all of his strength not to scream, but the sensation was passing. Cooper rolled his body around, allowing the bedsheets to grate against his skin – causing another ripple of discomfort through the mass of scar tissue that was his flesh – and sat up.
The room around him was dark, and empty, but that didn't mean that he was alone. The place was filled with ghosts. They gnawed at the edge of Cooper's consciousness. Threatening to drag him down into the Deep.
There was a communicator beside Cooper's bunk, and it chimed once, an indicator light warning of an incoming communication. Such a simple, innocuous thing – part of everyday life aboard a starship – but it evinced a sudden reaction in Cooper. He snapped his neck around to respond. Desperately trying to stop himself from falling back into the nightmare. Into the wet. Into the shadow . . .
A face appeared on the communicator's small screen, throwing a thin light over the chamber. As much as Cooper hated to admit it to himself, he was grateful for the illumination, and glad to see the face there. It was one of his Disciples; a small, greying man, with a middle-aged face.
The Disciple's nation and planet of origin were unknown, but he had once been a doctor. That didn't matter any more, because now he had no title. It was the Black Spiral's way: none of the Disciples had any proper rank. It was, Cooper supposed, a consequence of his response – his rebellion – against the structures that had once bound him. He had known many doctors, once, but he was no longer that man.
Cooper could remember her eyes, most of all. They were almost pleading, because no one could live in that much pain. Not if they wanted to remain human.
"I am fine," Cooper growled.
Cooper reached over and activated the pain-relief system set into the bunk control console. The effect was instant: the cool spread of analgesics spreading through his dry, tortured body. He felt as though he was inflating inside his own skin, becoming more alive with each heartbeat. The nightmare's shadow quickly receded, leaving nothing more than a psychic stain. He felt a brief stab of resentment – of displeasure that he had to rely on the machines around him to live, to endure any sort of quality of life – but it was passing. Whenever Cooper slept, he did so attached to the apparatus. The machinery constantly flushed his blood of the poisons that accrued there, and was a requirement of being outside his armour. The filtering device was a fact of life, nothing more.
"Lieutenant Runweizer has reported." Runweizer was one of many agents deployed on Old Earth, within the structure itself. Like many military converts, Runweizer was less willing to give up his title than other Disciples. However, such operatives were a necessary evil. "He has visited the target's last known location," the Disciple said, but left it at that, hesitant to give the full report.
Pain relief and medical supplies, as well as other essentials for shipboard existence, were growing sparse. Another fact of life aboard the starship, and one that Cooper felt acutely. The Disciple looked on with doleful eyes. Perhaps it was the doctor in him; still seeking to understand what was happening to Cooper. That made a smile jerk at the corner of Cooper's mouth, because he didn't really understand this himself. He doubted that anyone understood what was happening to him.
The Disciple went to open his mouth, to speak some more, but Cooper cut the comm. The after-image of his grey, aged face lingered on in the dark for a second or so, then Cooper was alone again.
What had she meant to say? It had been many years since their meeting, and Cooper had often caught himself wondering what she had sought to tell him. Had she wanted him to die? To give up?
Never. While I live, their memory continues. They live.
Cooper's eyes fell to his armoured suit. It sat in the corner of the room, illuminated in its charging cradle. He couldn't remember having activated it, but that wasn't new. Increasingly, he had found the armour switching on without his permission: the wrist-comp flashing as it connected with unseen networks, the weapons systems cycling up of their own accord. It was as though the armour itself was becoming sentient, reaching out to other machines around it.
Cooper stood on pained legs and wandered to the suit. Its black plating was scratched, battered. The manpower-amplifier was an older pattern, the attenuators and strength-augmentation system partially exposed on the arms and legs. Still, every threat-marking and kill-score had been painstakingly restored: the skull-motif glared back at him from the helmet. He reached out, caressed the armour. Felt a prickle of static touch his skin, and more exquisite agony erupt inside of him.
The old gods were coming back, and they were hungry.


As a Pharmacy Technician in a growing segment of healthcare, home infusion services, you will work with cutting edge technology compounding specialized and complex therapies that are administered to patients in their homes.
Product preparation, compounding sterile products, and maintaining the pharmacy clean room suite to 797 requirements.
Documentation of IV admixture and clean room suite sterility testing.
Complete order entry and refills under the supervision of the pharmacist.
Inventory management and storage, complete appropriate documentation, such as labels, log sheets and reports.
Participate in on call rotation as indicated by staffing and business needs.
Eligible for state registration, certification or licensure per state regulations.
At least 1 year experience compounding IV admixtures as a pharmacy technician.
Basic computer skills including word processing and spreadsheet utilization.
Excellent customer service skills (written and verbal) a must.
Experience- Home infusion compounding experience preferred.
Education- Verifiable High School diploma or GED is required.
For more information on this position, please contact our office at 877-782-3334.


Join us for Celebrate the Light! featuring our choir along with 60,000 Christmas lights and laser all synchronized to the music. Friday and Saturday will feature live Christmas jazz before the presentations, and free refreshments afterwards. Free breakfast on Sunday from 9-10am.
Every evening from Thanksgiving to New Years you can enjoy our new spectacular outdoor nativity display. 15' tall, 100' wide, and with over 3,000 stunning LED lights, it will be a sight to behold!


Contemplating the crucifixion and celebrating the resurrection of Jesus.
With Friday being a family service, there will be no Children's Church.
The babies' room and the playroom will be open with visual and audio feed.
There is also an enclosed playground adjacent to the church hall.
On Sunday, there will be Children's Church as usual.
ESCCYouth will not meet on Friday evening (19 April).
There won't be an evening service on Sunday evening (21 April).
Streams Café is closed over this weekend.