Uber narrows losses to $1.8bn in 2018 but revenue growth slows ahead of IPO

first_img Uber narrows losses to $1.8bn in 2018 but revenue growth slows ahead of IPO whatsapp Callum Keown Read more: Lyft to pitch fast growth to investors as IPO race with Uber intensifiesRevenue for 2018 as a whole was $11.3bn – up 43 per cent on the previous year.Full year losses narrowed, down 15 per cent from 2017, but the company still reported losses of $1.8bn, which may concern investors ahead of its eagerly-anticipated IPO.The company continued to grow its global reach, reporting that annual bookings rose 45 per cent and generated $50.2bn over 2018, including its food delivery service Uber Eats.The San Francisco-based firm filed for an an initial public offering (IPO) with the Securities and Exchange Commission (SEC) in November. Share Uber narrowed losses last year but saw revenue growth slow dramatically in the fourth quarter ahead of its IPO.The ride-hailing app said revenue grew just two per cent in the final three months of 2018 to $3bn (£2.3bn), a slowdown from the 38 per cent rise the previous quarter. “Last year was our strongest yet, and Q4 set another record for engagement on our platform,” chief financial officer Nelson Chai said.“In 2018, our ride-sharing business maintained category leadership in all region we serve.” he added.Rival ride-hailing company Lyft has trebled its reach in the past two years and now serves 600 cities in North America.Lyft is also preparing for an IPO and has been pitching its rapid growth to investors to get ahead of Uber in the race to list.As a result of Lyft’s rise, Uber’s profits from US rides have dropped and separately it has lowered driver fees in South America to ward off other rivals. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funnybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comMisterStoryWoman files for divorce after seeing this photoMisterStoryLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChattercenter_img More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsapp Tags: Trading Archive Saturday 16 February 2019 9:25 am Read more: Uber loses appeal over driver employment rightsBoth are expected to launch their IPOs later this year.“Uber needs to show it can control costs and can make money, basically provide a strong argument that its business model is not broken and that it can achieve and sustain profitability despite issues with drivers, customers and politicians,” David Brophy, professor of finance at University of Michigan’s Ross of School of Business said.last_img read more

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TMHS alum Kevin Allen attempts third run for school board

first_imgEducation | Juneau | Juneau Schools | Local GovernmentTMHS alum Kevin Allen attempts third run for school boardAugust 13, 2018 by Adelyn Baxter, KTOO Share:Kevin Allen poses for a portrait in 2016 outside the Father Andrew P. Kashevaroff Building in Juneau. Allen is running for Juneau School Board for a third time. (Photo by Quinton Chandler/KTOO)College student Kevin Allen will make a third attempt to win a seat on the Juneau School Board in the Oct. 2 municipal election.Allen, 20, graduated from Thunder Mountain High School in 2016. He previously served as a student representative to the school board during his senior year.He ran unsuccessfully for the board in the last two municipal elections, but said he decided to run again after realizing this year’s race would be different.“I realized there’s no one else signing on right now, and I thought, ‘Well jeez, this is going to be a very transformational year.’ There’s no incumbents running and there’s going to be three brand new faces on that board.”Board member Emil Mackey recently announced his plan to run for Juneau Assembly. Incumbents Andi Story and Josh Keaton are also not running for re-election. Story is focusing on her run for the Alaska House of Representatives. That leaves three seats open on the seven-member board.Two other candidates, Paul Kelly and Elizabeth Siddon, have also filed to run for school board.Allen is currently studying accounting part-time at the University of Alaska Southeast. He serves as president of the Alaska Native Sisterhood Glacier Valley Camp 70 and on the community council for the Central Council Tlingit & Haida Indian Tribes of Alaska.He said he admires the board for its style of debate and discussion, and hopes to learn about how to approach complex issues.“They’re really just listening carefully and intentionally to who they may disagree with and try their best to understand where they’re coming from. I noticed that when I was a student rep in 2016, and I just want to keep that up.”Allen hopes to focus on more collaboration with the statewide Alaska Association of School Boards, responsible spending on technology education and attendance issues, among other things.The deadline to file for Juneau’s local election was 4:30 p.m. Monday.Share this story:last_img read more

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News / Spot rates tumble with excess capacity and threat of US-China trade war

first_img By Mike Wackett 23/03/2018 Container spot rates continued to slide this week as capacity issues threatened the stability of the Asia-Europe trade.And on the transpacific, a trade war appears to be on the verge of breaking out between China and the US.This week’s Shanghai Containerized Freight Index (SCFI) saw European components tumble by 5% for North Europe to $704 per teu, and by 2.3% for Mediterranean ports to $650 per teu.Spot rates on the route have now fallen for four consecutive weeks, following Chinese New Year, and several carriers, including CMA CGM and Hapag-Lloyd, have already discounted their FAK rates as they struggle to fill their ships.Analyst SeaIntelligence calculates that ocean carriers have 8.8% more slots to sell for North Europe this year, compared with 2017, and 6.5% more capacity on the Mediterranean.It said that in order to achieve a “more modest” 5% growth, which is more in line with the consensus estimated demand increases, carriers would need to pull some 9,300 teu per week of capacity to North Europe.On the basis that the average size of vessel deployed on the trade is 15,100 teu, SeaIntel suggested that it would be necessary to blank 7.4 sailings over a 12-week period to return to a state of equilibrium.For the smaller Mediterranean trade, where the average vessel size is 11,200 teu, the cull would need to be less severe, said SeaIntel, with the supply-demand rebalancing requiring a reduction of around 2,000 teu per week, equating to voiding 2.2 voyages over a 12-week term.And on the transpacific, Asia-US spot rates recorded by the SCFI crashed below a crucial psychological level this week, which does not augur well for carriers negotiating annual contract rates with BCOs.Rates from Asia to the US west coast fell below $1,000, slumping by 7% to $945 per 40ft, and for US east coast ports there was a 3.8% decline to $1,933 per 40ft.In comparison with 12 months ago, spot rates are significantly weaker: the SCFI reading for 24 March 2017 was $1,288 and $2,625 per 40ft for the US west and east coast ports respectively.However, according to freight rate benchmarking platform Xeneta, early indications from its crowd-sourced data suggests that some transpacific shippers have paid a premium on 2017 rates.But it added that shippers should be questioning their strategy in the light of the spot rate erosion.“Should they be finalising long-term contracts at a similar level to 2017, or perhaps slightly lower?” it asked.Meanwhile, BCOs may find that carriers become keen to nail down volume contracts in the light of the looming trade war between the US and China. In an endeavour to slash America’s $375bn annual trade deficit with China, President Donald Trump yesterday signed-off sweeping new tariff hikes on $60bn of hi-tech and high-end imports, targeting 1,300 separate Chinese-manufactured products.It is way too early to calculate the full impact on trade of the new import taxes, but it is likely that growth forecasts for the transpacific will need to be revised downwards.At the recent TPM conference in Long Beach, IHS Markit chief economist Nariman Behravesh identified US policy as one of the biggest risks to global trade expansion in 2018, with US president Donald Trump describing trade wars “a good thing and easy to win”.Dr Behravesh said: “There is a view in Washington that trade is a zero-sum game, but the fact is that trade wars are not a good thing and they are impossible to win.” © Katatonia82 | Dreamstime.com – Industrial view of Sea port of Limassol, Cypruslast_img read more

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Three cats rescued from Fort Myers hotel fire

first_imgAdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments Firefighters find sinking boat near Fort Myers June 11, 2021 FORT MYERS, Fla.– Fort Myers Fire Department responded to a fire at Howard Johnson Inn Wednesday morning. The hotel is just off U.S. 41.According to Fort Myers fire crews, the fire caused water and smoke damage to the second floor unit of the building. Paramedics rescued and resuscitated three cats from the fire. They all are recovering. AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments RELATEDTOPICS 7 children, 4 adults rushed to the hospital after Fort Myers crash June 1, 2021 Advertisementcenter_img Bicyclist in critical condition after getting hit by car, robbed in Fort Myers May 30, 2021 Advertisement AdvertisementTags: fort myers fire departmentiona mcgregor firesouth trail fire AdvertisementSouth Trail and Iona McGregor fire departments also assisted at the scene. No other injuries have been reported. Child rushed to the hospital after being hit by car in Lee County May 21, 2021last_img read more

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LCSO examining gas pumps for skimmers after increasing number of devices found

first_imgLCSO among law enforcement agencies deploying officers to Texas, Arizona June 16, 2021 RELATEDTOPICS Lee County deputies arrest five men for Island Vista robbery June 4, 2021 LCSO deputies investigate Words With Friends “romance scam” June 16, 2021 AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments AdvertisementIn 2019, lee county commissioners passed an ordinance requiring gas station owners to put locks on all of their pumps to prevent people from planting skimming devices.  While the law has helped, it hasn’t eliminated the problem completely.“I think they should be coming out more frequently checking on them,” Lazicki said.Earlier this month 3 skimmers were found in a week. This has lead to LCSO and the Department of Agriculture and Consumer Services inspecting the pumps themselves. AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments “We are going to make certain we do everything we can to make certain we stop fraud, prevent fraud and lessen your chances of being a victim of a crime,” Lee County Sheriff Carmine Marceno said.“It’s a big problem these days especially with gas prices on the rise and people not working because of this coronavirus,” Lazicki said.The safest way to pay for your gas is inside with cash but if you’re paying at the pump don’t use a debit card, deputies say your safest bet is a credit card with a chip device. Advertisement AdvertisementTags: Department of AgricultureLCSOlocal Advertisement Gateway neighborhood break-ins caught on camera June 3, 2021 FORT MYERS, Fla.– Did you see deputies while you were pumping gas today? LCSO’s Economics Crime Unit inspected more than 300 gas pumps at more than 30 gas stations across the county on Thursday. They’re doing this because there has been an uptick in skimming devices being found on gas pumps.“We paid cash today,” said Jessica Lazicki. She does this to avoid being scammed.“People are getting ripped off and their accounts are being drained,” Lazicki said.last_img read more

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Joe Mallon Motors Car of the Week: 181 Skoda Oktavia from just €50 per week

first_img Pinterest Joe Mallon Motors Car of the Week: 181 Skoda Oktavia from just €50 per week Twitter This is another Exceptional Offer From JOE MALLON MOTORS.Why buy from Joe Mallon Motors? Confidence, peace of mind, reassurance.Price: €16,000Registration: 181 D 12765Previous Owners: 2Engine Size: 1.6 litreTransmission: ManualMileage: 67,000 kmColour: BlackFuel Type: DieselBody Style: Saloon Home Motors Joe Mallon Motors Car of the Week: 181 Skoda Oktavia from just… Motors News Electric Picnic organisers release statement following confirmation of new festival date This week’s Car of the Week from Joe Mallon Motors is a 181 Skoda Oktavia.With a finance option in place, this car could be yours from €50 per week.This car is priced at €16,000. Twitter Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Facebook By LaoisToday Reporter – 17th November 2020 Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role WhatsApp WhatsApp Previous articleDeaths in Laois – Tuesday, November 17, 2020Next articleNew Labour Bill ‘would protect employees working from home’ LaoisToday Reporter RELATED ARTICLESMORE FROM AUTHOR Facebook TAGSJoe Mallon MotorsSkoda Oktavia Pinterest Electric Picnic Electric Picnic You can check out the finance arrangements you can avail of on this car here. SEE ALSO – Check out the new Joe Mallon Motors website herelast_img read more

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SEC adopts, proposes new rules

first_img Keywords Exempt market,  High frequency tradingCompanies Securities and Exchange Commission New exemption aimed at savvy investors in Alberta, Saskatchewan The final rules provide for two tiers of offerings. Tier 1 offerings allow firms to issue up to US$20 million in a 12-month period, with a maximum of $6 million offered by selling security-holders that are affiliates of the issuer. Tier 2 offerings, which impose additional disclosure and ongoing reporting requirements, allow firms to offer up to $50 million, with a maximum of $15 million from affiliated selling security-holders. “These new rules provide an effective, workable path to raising capital that also provides strong investor protections,” said SEC chair, Mary Jo White. “It is important for the commission to continue to look for ways that our rules can facilitate capital-raising by smaller companies.” The final rules also provide for the preemption of state securities law registration and qualification requirements for securities offered or sold to “qualified purchasers” in Tier 2 offerings. Tier 1 offerings will be subject to federal and state registration and qualification requirements. Commenting on the final rules, William Beatty, president of the North American Securities Administrators Association (NASAA) and Washington Securities Director, expressed concerns about the role for state regulators under the new exemption. “We appreciate that all five commissioners recognize the efforts of state securities regulators and NASAA to successfully implement a modernized and streamlined coordinated review program for Regulation A offerings to help small and emerging businesses raise investment capital. The program has been lauded for effectively streamlining the state review process that promotes efficiency by providing centralized filing, unified comments, and a definitive timeline for review,” Beatty said. “However, it appears that the SEC has adopted a rule that fails to fully recognize the significant benefits of this program to issuers and investors alike. We continue to have concerns that the rule does not maintain the important investor protection role of state securities regulators and must look more closely at the final rule as we evaluate our options,” he added. The rules will be effective in 60 days. Closing a regulatory gap To enhance regulatory oversight of HFTs and other prop trading firms, the SEC proposed a rule Wednesday that would require dealers that are active traders in off-exchange markets to become members of a self-regulatory organization (SRO). The amendments would narrow an exemption from SRO membership that was initially adopted to accommodate exchange specialists that did limited hedging, or other off-exchange business. However, it has since become taken advantage of by prop traders and HFT firms. The proposed amendments would amend the exemption to target the firms that it was originally designed for by eliminating the current prop trading exemption and replacing it with a more focused exemption that applies to off-exchange trading by a floor-based dealer that is solely for hedging the risks of its floor-based activities. The SEC says that the amendments would enhance regulatory oversight of active proprietary trading firms, such as HFTs. “This proposal embodies a simple but powerful principle of the federal securities laws – the protection of investors and the stability of our markets require that trading is overseen by both the commission and a strong self-regulatory organization,” said Mary Jo White, SEC chairwoman. “Today’s proposed rules would close a regulatory gap by extending oversight to a significant portion of off-exchange trading.” The SEC will seek public comment on the proposed rule amendment for 60 days following its publication. Facebook LinkedIn Twitter James Langton BFI investors plead for firm’s salecenter_img PwC alleges deleted emails, unusual transactions in Bridging Finance case Related news Share this article and your comments with peers on social media U.S. securities regulators Wednesday adopted rules to bolster the exempt market and proposed a new rule to enhance regulatory oversight of high frequency traders (HFTs). In a bid to facilitate access to capital for smaller companies, The U.S. Securities and Exchange Commission (SEC) adopted final rules that update and expand an existing prospectus exemption for smaller issuers, known as Regulation A. The revised exemption, which was mandated the JOBS Act, will allow smaller companies to sell up to US$50 million of securities in a 12-month period, subject to eligibility, disclosure and reporting requirements. last_img read more

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CSA extends approval for CanPX

first_img Share this article and your comments with peers on social media Fed to weigh further options for aiding U.S. economy in peril James Langton Fund managers invited into BoC backstop Shining a brighter light on bond markets With plans to bolster bond market transparency in the works, securities regulators have given debt reporting firm CanPX Inc. a six-month extension as an approved information processor. The Canadian Securities Administrators (CSA) is extending CanPX’s status as the information processor until June 30, according to a CSA notice issued Dec. 29, 2015. The CSA is planning to expand transparency in the fixed income markets with the Investment Industry Regulatory Organization of Canada (IIROC) taking over as the “information processor” for bond market data, and eventually publishing trading data for all corporate bonds, subject to a delay in disseminating that data and caps on the volume reported. Initially, the major investment dealers will be required to report to IIROC later this year, with that requirement extending to all dealers in mid-2017. See: Bringing sunshine to the bond market The regulators are currently analyzing the comments received on their initial proposals, and that they expect to publish additional information about their plans in the first quarter of 2016, the CSA notice says. CanPX has been an information processor for corporate debt securities since 2003, although its regulatory approval for that role was set to expire on Dec. 31, 2015. CanPX currently reports data on approximately 450 securities, subject to volume caps; and its data is disseminated hourly. The Investment Industry Association of Canada (IIAC) has argued that CanPX should not be killed off by the CSA’s plans for enhancing market transparency. See: Keep CanPX: IIAC In his latest industry letter, Ian Russell, IIAC president and CEO, notes that if CanPX loses its status as a regulated information processor, “dealer participation in CanPX will likely fade bringing with it an end to the CanPX corporate bond transparency service. This may also cause CanPX to shut down its government bond transparency service resulting in less transparency in government bond markets.” The IIAC has also expressed concern that the CSA’s plan to mandate transparency for all bonds may ultimately undermine liquidity, particularly in securities that are already relatively illiquid, such as high yield issues. Instead, the industry association argues that the “optimal approach” to improving bond market transparency, “would seem to be an amalgam of the proposed transparency approach based on the new IIROC surveillance system, and the existing CanPX transparency system.” To that end, the IIAC proposes that CanPX should retain its status as an approved transparency system; and, suggests that it should continue to publish data on Canadian government securities and certain corporate securities, alongside the new IIROC reporting system. Keywords BondCompanies Canadian Securities Administrators, CanPX Inc. Facebook LinkedIn Twitter Related news last_img read more

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North American task force tackles pandemic scams

first_imgBlock letters spelling fraud, with magnifying glass andreypopov/123RF Mouth mechanic turned market manipulator NASAA said that regulators have taken 250 actions — including administrative actions, cease-and-desist orders, referrals to other regulators, and requests to social media and online hosting companies — against these kinds of schemes.The scams uncovered by the task force include pitches to invest in limited partnerships, penny stocks, and private placements that involve purported medical technology. Also on the list are initial coin offerings and other cryptocurrency schemes, and crowdfunding initiatives.“Through the task force, state and provincial securities regulators successfully raised awareness of how fraudsters can use the pandemic to cloak schemes to steal money from unsuspecting investors,” said Lisa Hopkins, president of NASAA and West Virginia’s senior deputy securities commissioner, in a release.NASAA said that its Covid-19 task force, which involved 111 investigators representing 44 jurisdictions, “represents the largest coordinated enforcement initiative undertaken by state and provincial securities regulators.”“Fraudsters should know that the work of the task force is not over and that state and provincial securities regulators will continue to take decisive action to shut down their schemes,” Hopkins added. State and provincial regulators have exposed hundreds of fraudulent schemes seeking to capitalize on the Covid-19 pandemic, the North American Securities Administrators Association (NASAA) says.The group of regulators has reported that its Covid-19 Enforcement Task Force has detected 262 scams connected with the pandemic, including 168 investment frauds. James Langton Share this article and your comments with peers on social media Related news PwC alleges deleted emails, unusual transactions in Bridging Finance case BFI investors plead for firm’s sale Keywords Pandemics,  Coronavirus,  EnforcementCompanies North American Securities Administrators Association Facebook LinkedIn Twitterlast_img read more

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Blocked Roads Cleared in St. Mary

first_imgRelatedBlocked Roads Cleared in St. Mary RelatedBlocked Roads Cleared in St. Mary RelatedBlocked Roads Cleared in St. Mary FacebookTwitterWhatsAppEmail As efforts continue to restore normality in St. Mary, following last week’s heavy rains, the National Works Agency (NWA) is reporting significant progress in the clearing of blocked roads in a number of communities.In an interview with JIS News, Collin Morrison, Senior Communications Officer at the NWA, said the only road which remained impassable was the one between Fort George and Camberwell, which was blocked by landslides.He noted that roads already cleared were Highgate to Windsor Castle, Rio Nuevo to Lambkin Hill, Richmond to Clonmel, Broadgate to Agualta Vale and Chovey to Claremont.Mr. Morrison added that roads accommodating single lane traffic included Trinity to Little Bay, Bailey’s Vale to Free Hill, Trinity to Fontabelle, White Hall to Cumsee, Maiden Hall to Pembroke Hall, Montreal to Derry and Broadgate to Tom’s River.He urged motorists to exercise caution when using these roads, explaining that the NWA was making every effort to address the road problem in the affected communities.Meanwhile, the Ministry of Labour and Social Security has been distributing relief assistance, including mattresses, toiletries and foodstuff to affected persons, while conducting assessments of the damage and losses suffered for the purpose of facilitating government assistance to victims.Noting that this was being done expeditiously in view of the emergency situation in the parish, St. Mary Disaster Co-ordinator, Myrnel Grant, told JIS News that persons affected by the flooding should report their losses to the St. Mary Disaster Committee or the St. Mary Office of the Ministry of Labour and Social Security, in order to benefit from any assistance to be provided.She said the people of the affected communities were working together to do the necessary cleaning up in the aftermath of the flooding.Miss Grant commended the National Solid Waste Management Authority for the support it was providing for the cleaning up exercise.center_img Blocked Roads Cleared in St. Mary UncategorizedNovember 28, 2006 Advertisementslast_img read more

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