Daily Archives: April 5, 2017

Regulatory reform leads to financial independence – Argus Leader – Sioux Falls Argus Leader

Posted: April 5, 2017 at 5:11 pm

Rep. Kristi Noem, U.S. House of Representatives 11:02 p.m. CT April 3, 2017

For many, preparing for Tax Day only highlights just how much of a persons paycheck is redirected straight into the federal governments bank account.

The truth is our tax returns only tell part of the story. Federal regulations add thousands of dollars more in hidden costs every year for South Dakota families. Ive heard from many that enough is enough and I agree. So regardless of if its tax or regulatory reform, Im focused on giving you more financial independence.

One of the first places Im looking to save you money is on your taxes. Last year, I helped outline a simpler and fairer tax code. In totality, the plan is estimated to save the average family $4,600 per year, according to analysis done by The Tax Foundation. On top of that, they expect the plan would help grow the economy by 9.1 percent over the next 10 years, which translates into more jobs and higher wages.

The way were proposing to do this may save more than money. Under our plan, tax returns may be simple enough to fit on a postcard, hopefully saving taxpayers the 6 billion hours we collectively spend doing our taxes each year.

Like I mentioned before, there are also hidden costs the federal government imposes. Today, almost 25 percent of a new family homes final cost is dealing with regulations to build that home. Under Obama-era motor-vehicle regulations, the cost of a new car could spike almost $3,000 by 2025. Meanwhile, regulations on everything from lightbulbs to dishwashers could increase consumer costs by as much as $1,600. And it just keeps adding up from here!

Already, President Trump and Congress have worked together to delay, repeal or dismantle more than 90 regulations put in place by President Obama. But more must still be done. In addition to dismantling the unnecessary regulations piece-by-piece, Ive supported legislation to make it much more difficult to impose these massive regulations in the first place.

Just days into 2017, the House passed a bill I co-sponsored that would require any major regulation to be approved by Congress. If enacted, it would be an unprecedented check on federal bureaucracy.

After eight years under President Obama, I think too many have accepted a status quo that leaves less money in your pocket and puts more decisions in the governments hands. Whether its regulatory reform or tax reform, there is a path forward that gives you more freedom and financial independence. Ultimately, thats the path I will always pursue.

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Regulatory reform leads to financial independence - Argus Leader - Sioux Falls Argus Leader

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Young South Canterbury speed skaters hunting medals in Australia at Oceania Championships – The Nelson Mail

Posted: at 5:10 pm

STU PIDDINGTON

Last updated17:48, April 4 2017

JOHN BISSET/FAIRFAX NZ

South Canterbury will be well represented at the Oceania championships in Brisbane(from left, at rear) Ella Benson, Sophie Lowen, Keaton Swindells, Jan Kuepper, Leah McDonald and Ariana Snook, (front, from left) Charli Nevin, Roshean O'Connor and Charlotte Clarke.

South Canterbury speed skaters will form the basis of the 26-strong New Zealand team to compete at the 2017 Oceania championships in Brisbane.

Ten junior and cadet skaters from Timaru will be vying for titles over Easter.

Last year in an impressive performance South Canterbury skaters won more Oceaniatitles than the whole Australian team.

It could however be a tougher prospect this year with the Australianshavinghome advantage on the roads of Brisbane.

Also South Canterbury will only have under 20 and under 14 representatives, withsenior sprinter Dale Christofferson away.

Christofferson is in Europe for amonth competing in some big races in France andGermany, plus the Slovenia national championships.

Five of the six junior girls are from South Canterbury, along with the well performed Renee Teers from Wanganui.

Leah McDonald is the defending junior champion over1000m, 10,000m points and marathon and will be favourite again having had some impressive performances in the build-up.

Arianna Snook is another juniorlooking for titles after winning the open 10,000m and20,000m road races at the New Zealand championships in Auckland inJanuary.

Snook is however recovering from a recent compartment syndrome operation on both legs and is not 100 per cent fit but is still likely to be in the mix.

Sophie Lowen is also back after a long term shoulder injury, sustainedfrom a kayaking accident, but after winning threenational titles should also be a good chance of a podium finish.

The Kiwi juniors will face a tougher assignment however as three Australians girls gained valuable experience at last year's junior world championships, while New Zealand had no female representatives.

In the junior men the talented Jan Kuepper should be more competitive as it his second year in the grade.

Keaton Swindells made a clean sweep of the cadet boys' races last year, but the 15-year-old steps up into the junior grade and will face competitors up to fouryears older than himself.

Upper Hutt's Hadley Beech Upper Hutt and Sam Portchfrom Palmerston North will alsorace in the junior men's grade.

In the cadet girls (under 14), Ella Bensonstarts out as favourite after winning two titles last year, with the other title holders moving up into the junior ranks.

Charli NevinandRoshean O'Connor are both determined competitors and could feature prominently in the longer events.

Palmerston North's Serenity Griffith is likely to be a contender in the sprints while three Nelson skaters,Holly Ward, Lydia Stack andOcean Collinson-Smith make up the seven-strong cadet girls team.

Timaru's experienced Bill Begg will coach the team with Rebecca Smith fromWanganui his assistant.

The South Canterbury presence in the team is completedwith managerChristene Swindells and Lisa Snook as her assistant.

-Stuff

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Basketball ‘+’ creating waves of change across Oceania – FIBA

Posted: at 5:10 pm

04/04/2017

Oceania

Timor-Leste 'Mum's a Hero' Program

SOUTHPORT - With the United Nation's International Day of Sport for Development and Peace fast approaching, we take a look at FIBA's Basketball '+' program.

Active in five (5) nations throughout Oceania and Asia, this program uses basketball as a community development tool. Each nation has its own key social objectives but the overall goal is to improve peoples lives through basketball.

Since its inception in 2014, Basketball '+' has helped thousands of people across the Pacific and Asia realise their love for the game and the power it has to positively affect their lives.

Basketball '+' in Fiji launched the 'Hoops for Health' (H4H) and 'Mum's a Hero' programs focusing on the awareness and prevention of non-communicable diseases (NCD) plus increasing female participation. In the programs 21-months of activity, Basketball Fiji has touched the lives of 24,565 participants. From school children to local mothers, basketball has served as tool for the people of Fiji to improve their lifestyle, health and community.

"Before Hoops for Health I stayed home most of the time and was never interested in outdoors activities," said Fijian Mum's a Hero participant, Miri. "Having a proper diet was never important to me [after participating in Mums A Hero] I now involve myself with outdoors activities in order to keep fit and stay healthy for my family."

Mum's A Hero program in Lautoka, Fiji

Basketball Fiji H4H school visit in Nehru

The Kiribati Basketball Federation's (KBF) H4H program teaches school children and the local community about the risks of NCD's and how this can be prevented. Kiribati's coaches have made a difference to all 7,550 participants who have joined them on court and in the classroom to learn and share their passion for basketball.

The KBF also use 3x3 basketball as a way to keep people fit and active. Many people who have never played basketball are discovering a great love for the sport; the KBF has even helped people who lost their love for the game many years ago, find it once again.

One such person is H4H participant Muieraoi who can be found at almost every KBF H4H event.

"At first I only played hoop for fun," said Muieraoi. "Now through the Hoops for Health program, I am starting on having this mentality as I have to play for my health. I managed to influence my two elder brothers to play the game not only for fun but also if they value their lives or health. I found myself happy as I get to know lots of people or players from other clubs.I haven't missed any basketball functions I get involved more and forget other influences like alcohol as I set my target to be thebest basketball player in three years."

Kiribati's Hoops for Health program keeping the local community active

Women of Kiribati enjoying a H4H session

Basketball '+' is still very new in Papua New Guinea but the community has embraced the program wholeheartedly. PNG is a proud nation full of passionate people, many of whom are big basketball fans. This is shown in the 3,131 participants the program has seen in just its first 8-months.

The Basketball Federation of Papua New Guinea (BFPNG) is keeping up with the demand for basketball in country by introducing the H4H, Twilight Basketball, Daytime Community Hoops and most recently Pikinini Hoops programs. Each of which target different sections of the community but all focus on a healthy lifestyle and positively impacting youth social behaviour in PNG.

"It's about much more than just promoting Basketball," stated BFPNG Chief Executive Officer Joel Khalu. "It is about utilising the sport to make a positive impact on the community. We're creating an avenue for kids to get off the streets and into a positive environment, where they can play sport for free and get educated on various ways to live happier and healthier lives."

PNG's Pikinini Hoops program

H4H visit toSt Joseph's International Catholic College in PNG

Timor-Leste's 'Mum's a Hero' program encourages more females to participate in basketball activities and feel empowered. The program is aimed at mothers in communities who can have an impact on the habits of their families.

Timor-Leste's 'Mum's a Hero' program bringing basketball to the community

Timor-Leste Coaches encourage everyone to get involved in the game

Vanuatu's H4H program seeks to use basketball as a tool to combat NCDs. In this case, Vanuatu's H4H coaches help educate Vanuatu's youth of the food the body does and doesnt need plus the benefits of a healthy diet and regular exercise.

"I came to know about Hoops for Health when I started working with Vanuatu Basketball Federation (VBF)," recalled VBF H4H Coordinator, Annie Obed. "I've heard about non-communicable diseases (NCDs) and the risks, but I never thought of using basketball las a tool to advocate NCDs is all about lifestyle choices. If I made the right choice now I will benefit from it later."

Vanuatu's H4H program community visit

VBF Vila East Primary School visit

FIBA's H4H and 'Mum's a Hero' programs are made possible by Australian Government funding through the Pacific Sports Partnership Program.

FIBA

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9 athletes off to Oceania tourney – Saipan Tribune

Posted: at 5:10 pm

Northern Marianas Athletics will be sending nine athletes and two officials to Fiji this summer to participate in the 2017 Oceania Area Championship.

Micronesian Athletics Championship (2016) Outstanding Female Athlete Zarinae Sapong leads Team CNMI and will be joined by Beo Ngirngochor, Traven Quitugua, Jerald Castillo, Daniel Calvo III, Riella Ann Billy Ichiou, Chloe Salvosa, Annalei Santos, and Jamie Pangelinan.

Sapong won two gold medals, one silver, and two bronzes in the MAC held in Pohnpei last year, getting her two golds in the 100m and 200m sprints. In Fiji, which will hold the Oceania Area Championship in Suva from June 29 to July 1, Sapong will also compete in the womens open divisions 100m and 200m runs. Her best times in the two sprints are 13.35 seconds (100m) and 27.87 seconds (200m).

Ngirchongor and Ichiuo are also entered in the open field with the former participating in three events200m (23.58 seconds), 400m (52.74 seconds), and 400m hurdles (1:00.89). Ichiuo, who will be representing the Commonwealth for the first time, will race in the 100m (13.89 seconds) and 200m (25.77) and will also compete in the javelin throw.

In the U20 division, the CNMI has three entries in Castillo, Calvo, and Salvosa. Salvosa, who won two gold medals (javelin throw and long jump) for the Commonwealth in last years MAC, this time will only do the long jump (4.16m) for the field events, but has two runs to her schedule as she will join the 100m (13.72 seconds) and 200m (28.21 seconds) races in Fiji.

Castillo, who topped the 100m in last years MAC, will also participate in the two sprints where his best times are 11.37 seconds (100m) and 23.93 seconds (200m), while Calvo is entered in the 100m run (11.78 seconds) and long jump (5.44m).

For the U18 contest, Quitugua and Pangelinan will both race in the 100m and 200m, while Santos has two throwing eventsshot put (9.63m) and discus (29.37m). Pangelinans best time in the 100m and 200m are 14.82 seconds and 33.03, while Quitugua has faster records with her 11.72 seconds and 24.44 seconds.

The nine CNMI athletes will be joined in Fiji by Rangamar and NMA general secretary Robin Sapong. The Commonwealth bets will be up against the representatives of the host country, American Samoa, Cook Islands, the Federated States of Micronesia, Fiji, Kiribati, Guam, Marshall Islands, Nauru, Norfolk Islands, Palau, Tahiti, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu, and powerhouse New Zealand and Australia.

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Where Heroes of the Storm stands in Oceania – The Roar

Posted: at 5:10 pm

Heroes of the Storm has enjoyed much success in America, Europe and Korea, dominating the playing field. Australia is now starting to emerge as a region to watch.

Until recently, there was not much available for those who wanted to go pro in Australia. Community-run events were scarce and dependent on those often juggling other commitments.

Australian New Zealand Heroes was a great initiative to kick start a community presence in the region.

Founded by dynamic duo Micheal Disconcur Roberts and Nicole Neri Roberts, they focused on bringing Heroes of the Storm to life down under.

Another organisation committed to the cause and stepping in was Gamestah, an Australian esports event organiser and broadcaster. Between ANZ Heroes and Gamestah, the community suddenly had competitions brought to life and a way for teams to stay connected. Also, as of last year, Blizzard ANZ shifted its attention towards seeing how they could best support this emerging esports community.

The Ember Series format for semi-pros, launched by Gamestah in June 2016, featured weekly matches with cash prizes up for grabs. ANZ Heroes in partnership with Blizzard ANZ also featured a cash prize competition in the form of King of the Hill a weekly best-of-one-match series.

ANZ Royal Rumble was a solo sign-up tournament organised by ANZ Heroes in conjunction with Morton, a long-term community member and player who previously used to organise these free agent tournaments for fun in the early days of ANZ Heroes of the Storm. This tournament had an emphasis on fun over prizes, as your team would be generated randomly, with the aim to have all rankings of players distributed equally.

One huge announcement by Blizzard ANZ last year, on the back of all these community initiatives, was to give our region a proper competitive environment. Blizzard finals were announced, with the road to finals in the form of qualifiers being organised and streamed online by ANZ Heroes and Gamestah.

The finals would be played out at the Electronic Sports League Sydney studio and all the action would be broadcasted live online.

These competitions saw some great teams forged and others crumble. Negative Synergy was one such team that looked to be destined for greatness after winning finals, and then disbanded after their first international showing. Four ex-members of the team created the fittingly named team Reborn and, more recently, Nomia, who have proven they are the team to beat now in ANZ with an almost flawless match history.

On an International level were doing well too. The Grand Master leaderboards for the Americas region features our talent in JimJam, Arcaner, robahdobah, AgainstTime, and AeternaNyx at the time of writing.

Some local Grand Master players have even taken on the challenge of playing on other regions servers to achieve the same rank. This is done to challenge themselves further and develop as better players, with each region favouring a slightly different take on the meta and playstyles. It shows that we have some amazing talent right here in our ranks that are eager to become the next Nomia.

Nomia are currently the team to beat. They are the go-to favourites in ANZ, with an impressive track record, only dropping one game in qualifiers last season. Its good to see in the Gamestah Season 2 qualifiers they have also dropped one game to date to Mortons List.

This is a good thing because teams taking games off them proves they are being challenged. This means that all teams involved can push themselves to go even further and improve their quality of gameplay.

Since I started getting involved in Heroes of the Storm locally, the experience and quality of teams has rapidly improved. Blizzard ANZ supplying community prizes in the forms of skins is a nice gesture to ensure participation does not go unrewarded, as it is a daunting task to begin from the bottom. They have also shown that they are ready to shake things up with their recent announcement of Heroes of the Storm 2.0, acknowledging how far the game has come since its launch.

Heroes of the Storm in Australia and New Zealand has had a turbulent ride. This season has shown that Blizzard ANZ and ANZ esports organisations are willing to put in the time for any players that are serious about representing our region.

Nomia, Mortons List, Lleyton Hewitt FC and TrumpSports are all in the leaderboards for the Gamestah Season 2 qualifiers, time will tell how they fare.

Tune in on Tuesdays 8pm to catch the running season 2 qualifier series.

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KQ clinches open-sky deal with Seychelles – The Star, Kenya

Posted: at 5:09 pm

National carrier Kenya Airways has secured unlimited frequency of flights to Seychelles, boosting the airlines turnaround strategy.

KQ has signed a memorandum of understanding with the Seychelles Tourism Board, which will allow the national carrier increase its weekly flights to five from the current four.

Seychelles Tourism, Civil Aviation, Ports and Marines minister Maurice Loustau-Lalanne said Kenya Airways is, however, free to increase its flights to any number depending on its capacity.

"Kenya Airways is not restricted it can go even to seven or more. This is an open agreement," Lalanne said during the signing of the deal at the Ministry of Transport.

The agreement is expected to promote tourism and boost intra-Africa trade, officials said.

The agreement is also anchored on aspiration to strengthen the airline presence in Seychelles. Increased frequency will increase KQ's revenues, a boost to its ongoing recovery strategy as it strives to return to profitability.

"This partnership will also underscore the important role that Kenya Airways plays in the African economy development, specifically creating vital linkages between the continent and the international market on which tourism and other key sectors depend on and thrive, " Kenya Airways outgoing chief executive Mbuvi Ngunze said.

Lalanne challenged KQ to ensure it has cargo capacity to handle exports and imports between the two countries, which could be boosted by the renewed bilateral trade agreements.

Seychelles targets to export hundreds of tonnes of fish to Kenya, while it will seek to import flowers, vegetables and meat products, which they presently import from New Zealand, Australia and Brazil.

Transport CS James Macharia affirmed the government's commitment to support Kenya Airways recovery strategy.

He said the government is also keen to secure more bilateral agreements.

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IMF Staff Completes Visit to Seychelles – International Monetary Fund

Posted: at 5:09 pm

April 4, 2017

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMFs Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.

An International Monetary Fund (IMF) staff team led by Mr. Wendell Samuel visited Victoria from March 22April 4 to conduct discussions on the 2017 Article IV consultation and the sixth review under the Extended Fund Facility (EFF) [1] Arrangement with Seychelles.

At the conclusion of the visit, Mr. Samuel issued the following statement:

Macroeconomic performance continued to be strong in 2016. Economic growth reached 4.5 percent, reflecting increased tourist arrivals, stronger output in the fishing industry, and expanding credit to the private sector. Helped by low commodity prices and a stable exchange rate, inflation (year-on-year) was negative throughout 2016. The external current account deficit remained largely unchanged, while net international reserves exceeded the program target by US$14 million. Supported by lower than budgeted capital outlays and strong tax revenue growth, the 2016 primary fiscal surplus reached 3.4 percent of GDP, comfortably exceeding the program target. The end-2016 reserve money ceiling was missed by a very narrow margin, due to stronger-than-expected growth in foreign currency deposits.

With continued foreign investments and rising arrivals in the tourism sector, the growth outlook for 2017 remains positive. The rising trend in international fuel prices since late 2016, along with fiscal measures in the 2017 budget, could put pressure on inflation and on the balance of payments. International reserves are expected to remain at an adequate level, anchored by strong macroeconomic policies. Downside risks to the outlook stem largely from the external sector.

In view of the fact that the 2017 budget is supported mainly by one-off revenue measures, the mission discussed permanent fiscal measures in 2018 that would help secure the medium-term debt reduction target. It stressed that inability to contain fiscal spending pressures could undermine governments efforts to sustain strong fiscal primary surpluses and jeopardize medium-term public debt reduction goals. The team concurred with the authorities about the need to address structural weaknesses and promote inclusive growth, including through further diversification in the context of the Blue Economy initiatives, improving the business climate, and strengthening the state-owned enterprise sector. The central bank should continue to maintain a flexible exchange rate while limiting foreign exchange interventions to the extent needed to avoid excess volatility and preserve reserve coverage at an adequate level. At the same time, the bank is called upon to remain vigilant to inflationary pressure stemming from rising international commodity prices and fiscal measures in the 2017 budget.

As a small archipelagic country, Seychelles is becoming increasingly vulnerable to natural disasters and to climate change. Over the long run, the economic costs of such events could be large and unpredictable. To better address these challenges, the authorities jointly with international partners need to pursue a medium-term strategy that would create additional fiscal space to undertake the necessary climate change mitigation and adaptation measures. In addition, climate change should be integrated into public financial management and options for risk sharing need to be carefully explored.

Subject to the approval of IMF Management, the IMF Executive Board is expected to discuss the completion of the review and the Article IV consultation in June 2017. The mission appreciates the high quality of the discussions and thanks the authorities for their hospitality, as well as the open and constructive dialogue.

The team met with His Excellency President Danny Faure, Minister of Finance, Trade, and Planning Peter Larose, and Governor of the CBS Caroline Abel, as well as other government officials, members of the National Assembly, and representatives of the private sector and civil society.

[1] The Extended Fund Facility under the Extended Arrangement is an instrument of the IMF designed for countries facing medium-term balance of payments problems because of structural weaknesses that require time to address. Assistance under the Extended Fund Facility features longer program engagementto help countries implement medium-term structural reformsand a longer repayment period. (See http://www.imf.org/external/np/exr/facts/eff.htm ). Details on Seychelles Extended Arrangement are available at http://www.imf.org/seychelles .

PRESS OFFICER: Andrew Kanyegirire

Phone:+1 202 623-7100Email: MEDIA@IMF.org

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MK weds in Seychelles, slams lack of civil marriage in Israel – The Times of Israel

Posted: at 5:09 pm

Israeli lawmaker Ksenia Svetlova married her fianc this week in the Seychelles, and took the opportunity to criticize the Chief Rabbinates monopoly on marriage in Israel.

The Zionist Union member of Knesset, who has been an active parliamentary proponent for civil marriage in Israel, said dryly that the only one absent from their ceremony on the Indian Ocean island was the Orthodox rabbinate, which has a monopoly on marriage in the State of Israel.

We both felt that this entity has nothing to do with our Judaism, and we were not ready to be forced on the happiest day of our lives to play according to the rules of a game that is alien to us, Svetlova wrote Monday on her Facebook page.

Israeli marriages are performed under laws inherited from Ottoman times. Citizens may only marry through their religious institutions: Jewish couples must marry through the Chief Rabbinate, and Christians, Druze and Muslims all marry through their own state-sanctioned and publicly funded religious systems.

Among Jews, only Orthodox ceremonies are recognized. This also impacts interfaith and same-sex marriages. Those who wish to marry or divorce outside the faith are forced to travel overseas for a civil ceremony, with nearby Cyprus one of the most popular options.

A poll released last month showed that 72 percent of Jewish Israelis support civil marriage and 76% of Arab Israelis favor marriage freedom in Israel, where citizens cannot legally marry outside their faith.

No one has ownership of Judaism, wrote Svetlova, and it is inconceivable that in a Jewish state one obsessive body will have an absolute monopoly on our lives!

She said she hoped Israeli couples would be able to marry however they like in the future, and wouldnt be forced to wed outside the country if they chose to do so in a non-Orthodox fashion.

I will continue to work for this purpose at the Knesset, she promised, once I get back from my honeymoon.

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Seychelles opens doors for Kenyan teachers, farmers – K24 TV

Posted: at 5:09 pm

Photo: Seychelles President Danny Faure (left) with Deputy President William Ruto at State House, Nairobi yesterday. Photo/AYUB MUIYURO

An agreement between the Kenyan and Sychelles governments has opened more job opportunities for Kenyan teachers in the Indian Ocean island nation.

Horticulture, poultry, meat and dairy farmers will also benefit from Seychelles markets, following talks between visiting President Danny Faure with President Uhuru Kenyatta at State House, Nairobi yesterday.

Addressing a joint press conference, the two leaders also agreed to partner in other areas of development, including trade and security and the development of the blue economy. They also agreed to increase flights and cargo between the two countries.

Uhuru said his government and that of Seychelles are working on modalities on how Kenyan teachers will start offering services in Seychellois schools.

Also read: Families of 5 victims of Kakamega lightning tragedy in mourning

Just like Rwanda, Namibia and now Liberia we are hoping to conclude agreements on how our teachers will be exported to Seychelles, the President said.

On security, terrorism, piracy and the war against drugs, Uhuru said the two governments had agreed to share intelligence and ideas. He said Kenyas campaign against drug trafficking had benefitted a lot from the support of the Seychelles government.

President Faure, who is on three-day State visit, said Seychelles is interested in benefiting from Kenyas human capital especially in the education sector. His country, he said, had a lot of confidence in the quality of Kenyan teachers since a group of teachers was sent to Seychelles in 1998.

Also read: KNH doctors successfully remove knife from Wajir woman's cheek

Faure, who is visiting Kenya for the first time since he became President in October last year, said his country is ready to work with Kenya to develop its blue economy and to improve the security of its Exclusive Economic Zone.

Apart from education, we need to have more technical agreements to also tap on other areas of expertise which we can benefit from, he said. He assured Uhuru that Seychelles will support Kenya, including with consultancy services, on how to explore the fishing sector.

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KOTUG and Seabulk Awarded Contract at Bahamas – Yahoo Finance – Yahoo Finance

Posted: at 5:08 pm

FT. LAUDERDALE, FL--(Marketwired - Apr 4, 2017) - KOTUG International BV and Seabulk Towing, Inc. have been awarded a contract with Borco Towing Company Limited (a subsidiary of Buckeye Partners, L.P.) to carry out all towage operations at their Buckeye Bahamas Hub in the Bahamas.The contract will be performed through a newly formed joint venture between KOTUG and Seabulk: Kotug Seabulk Maritime LLC.

The Buckeye Bahamas Hub currently has over 26 million barrels of storage capacity and eight berths, including two VLCC-capable berths, making it the largest petroleum products terminal in the Western Hemisphere.

Kotug Seabulk Maritime LLC is deploying four new tugboats and a bunker barge to execute all Terminal Towage Operations, including Bunker Barge Assistance. The tug fleet, having commenced services as per 1st April, consists of two Rotortugs, the RT Blackbeard and RT Raptor and two Stern Drives, SD Calypso and SD Junkanoo.

The new joint venture KSM aims to leverage the impressive reputation, experience, technology, and practical "know how" of Kotug International and Seabulk Towing.

ABOUT KOTUG International BV KOTUG, family owned and headquartered in the Netherlands, is a leading towage operator offering its innovative services to ports and terminals on a global scale. With a young and powerful fleet of more than 100+ tugs, its dedicated staff and well trained crew KOTUG operates in a variety of markets including towage services in ports and at sea as well as in the salvage, offshore and dredging industry. KOTUG is committed to the highest industry standards of health, safety, environment and quality. KOTUG has adopted an active green policy. Currently KOTUG has three (3) fully classed hybrid Rotortug E-Kotug, in her fleet. More information about KOTUG: http://www.kotug.com.

ABOUT Seabulk Towing, Inc. Seabulk Towing, Inc., founded nearly 60 years ago, is recognized by the towing industry as an established leader in harbor ship assist operations and offshore towing services. Established on the basic principles of safety and service excellence, Seabulk Towing, Inc. assists petroleum and chemical product tankers, barges, container ships and other cargo vessels in docking and undocking and provides services along the Gulf Coast and southeastern seaboard port system from Cape Canaveral, Florida, to Port Arthur, Texas.Seabulk Towing, Inc. is a wholly-owned subsidiary of SEACOR Holdings Inc( NYSE : CKH ). More information about Seabulk: http://www.seabulktowing.com.

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KOTUG and Seabulk Awarded Contract at Bahamas - Yahoo Finance - Yahoo Finance

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