Next BoE governor: Firms should expect coronavirus help

first_img whatsapp whatsapp Share Andrew Bailey told MPs that coronavirus was “going to be the first most pressing issue that we face”. He added that the virus is “evolving very quickly”. New chancellor Rishi Sunak, who replaced Sajid Javid in a surprise move last month, will hold a Budget on 11 March. “We must act in a coordinated fashion, we can’t let our notions of independence get in the way,” he told parliament’s Treasury Committee. The next Bank of England governor has said Threadneedle Street and the government is likely to provide loans to small and medium-sized firms to help them deal with supply chain disruptions from the coronavirus outbreak. “I think it is quite reasonable to expect that we are collectively going to have to provide some form of supply-chain finance.” Wednesday 4 March 2020 5:04 pm “What we need is frankly more evidence than we have at the moment as to how this is feeding through,” he said. (Getty Images) Also Read: Next Bank of England governor Andrew Bailey: Firms should expect coronavirus help The first financial set-piece of the new government, it will be overshadowed by the coronavirus outbreak which has now spread to more than 60 countries and dented the global economy. “We are still looking at the evidence and the precise sort of balance of what the shock is likely to be.”center_img Next Bank of England governor Andrew Bailey: Firms should expect coronavirus help Bailey said the Bank of England were, and must continue to, work together to tackle the economic fallout of the virus. He also suggested the Bank is not yet close to carrying out an emergency rate cut, as the US Federal Reserve did yesterday. “I have met the chancellor and we have talked about this,” Bailey said. (Getty Images) Traders now think it certain that the BoE will cut rates at its next meeting. More than 10 per cent of traders think it could even slash them by 50 basis points (0.5 percentage points). (Getty Images) Also Read: Next Bank of England governor Andrew Bailey: Firms should expect coronavirus help Harry Robertson Show Comments ▼ More From Our Partners Why people are finding dryer sheets in their mailboxesnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comlast_img read more

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How can insurance adapt to the losses incurred by Covid-19?

first_imgTuesday 1 September 2020 5:00 am (Getty Images) Read more: Insurance brokers slammed for conflicts of interests amid coronavirus business interruption claim disputes Nick MartinNick Martin is fund manager for Polar Capital Global Insurance Team. Ahead of Covid-19, many companies in the insurance industry were already struggling and needed to get their underwriting houses in order. The pandemic has simply added to their problems. However, there are plenty of quality insurance companies, run by strong, proven management teams. Many have been patient over the past few years, waiting for a better opportunity to deploy underwriting capital. That opportunity has arrived. Pricing momentum was building pre-Covid and is now accelerating virtually anywhere we care to look.  At the end of March/early April, there was talk of lawmakers retroactively wanting to change policy wording that would make insurance companies pay out for business interruption claims, whether there was coverage or not. This kind of retroactive conversation has since gone quiet as it flies in the face of contract law, certainly in countries like the UK and US. Covid-19 could be the largest insured loss in history. How can the insurance industry adapt? Main image credit: Getty The “known unknowns” include the major catastrophes that Mother Nature throws at us. In our view, Covid-19 is likely to become the largest insured loss in history. Our base case is a $60–70bn loss, surpassing the $50bn-plus from Hurricane Katrina alone in 2005. The worst year for insured losses was 2017, with $144bn paid out thanks to multiple hurricanes, wildfires, landslides and floods globally. The insurance industry helps customers and communities in difficult times by paying out on claims. Today’s pandemic is different from the usual hurricanes and earthquakes that non-life insurers deal with, as it is ongoing with any number of potential outcomes. Pandemics, unlike hurricanes or earthquakes, are not limited by geography or time which makes potential losses open-ended and, in the extreme, largely uninsurable.  Opinion As pandemics potentially impact everyone, there is no way to diversify risk, making pandemics incredibly difficult to insure. That is why they are routinely excluded in policy wordings. Sharecenter_img City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyNews SharperChrissy Metz Is So Skinny Now And Looks Like A Model (Photos)News SharperBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.com Tags: Alternative finance Coronavirus Insurance There will be significant insured losses from Covid-19 with obvious examples of the Olympics being postponed, Wimbledon and other sporting events being cancelled, and hundreds of thousands of travel insurance claims being made. These are the “known knowns”. whatsapp Show Comments ▼ Covid-19’s impact is shocking on so many personal, corporate, social and economic levels, but looking at the insurance sector, some of the clouds of uncertainty around Covid-19 losses seem to be lifting. Insurers today are being paid more appropriately for the risks they take on. That needs to be the case as insurance remains the oil that greases the wheels of world trade. Covid-19 has us all living through a live, catastrophic event. It is dramatic but makes the non-life insurance world a fascinating place to be. No regulator wants to see companies take on unquantifiable risks, as the whole principle of insurance is that the premiums of the many will pay for the losses of the few. last_img read more

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Denmark’s ISS strikes deal for UK engineer

first_img Denmark’s ISS strikes deal for UK engineer Express KCS whatsapp ISS, a leading facility services provider, yesterday bought the UK, Ireland and European operations of British technical services company GS Hall.The deal values the business at £53m, including debt and a £6m earn-out to be paid in the first half of this year depending on the business’s financial performance. Denmark-based ISS has funded the transaction through its existing debt facilities.Established in 1895, GS Hall is focused on the UK mechanical and electrical services markets, specialising in the self-delivery of services to accounts in the business service & IT and retail & wholesale customer segments. “This is the right company in the right market at the right time for us,” said ISS group chief executive Jeff Gravenhorst. “This acquisition will strengthen our ability to meet the increasing demand for integrated facility solutions where technical services is an important and deciding component for the customer in choosing the right partner. Furthermore, the acquisition will enhance our offering in energy management which is an emerging demand from our customers.” Tuesday 20 January 2015 8:14 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp Show Comments ▼ Share Tags: NULLlast_img read more

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Southwest Florida coronavirus case totals for Tuesday, Feb. 2

first_imgData per the Florida Department of Health as of Tuesday, Feb. 2. Additional case data compares to the previous update.TOTAL CASES IN FLORIDA: 1,737,640 (+ 10,533)TOTAL DEATHS IN FLORIDA: 27,269 (+140)TOTAL IN SOUTHWEST FLORIDA: 99,238 (+ 506)LEE COUNTY – 53,081 (+261) | 808 (+14) COLLIER COUNTY – 28,019 (+152) | 410 (+6)CHARLOTTE COUNTY – 9,801 (+56) | 303 (+0)HENDRY COUNTY – 4,066 (+12) | 57 (+0)DESOTO COUNTY – 3,401 (+25) | 67 (+0)GLADES COUNTY – 870 (+0) | 13 (+0) Southwest Florida coronavirus case totals for Thursday, June 3 June 4, 2021 Southwest Florida coronavirus case totals for Wednesday, June 2 June 3, 2021 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 Southwest Florida coronavirus case totals for Friday, May 28 May 31, 2021 Southwest Florida coronavirus case totals for Tuesday, June 1 June 2, 2021 Advertisement RELATEDTOPICS AdvertisementTags: Covid daily totals 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 Advertisementlast_img read more

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LISTEN: Relive every moment of Jack Nolan’s stirring Midlands 103 commentary on Laois win

first_img Jack Nolan – Photo: Paul Dargan We’re still trying to catch our breath from yesterday.The Laois hurlers sent Dublin crashing out of this year’s All Ireland championship thanks to a thrilling win.In a heroic performance, Laois led from start to finish and defied their massive outsiders tag.In what may be deemed as the biggest upset to hurling this year, Twitter at home and abroad went wild as the final result came in.Laois were outstanding – as they recorded arguably the county’s biggest hurling win since beating Wexford in the Leinster hurling semi-final in 1985.The mighty Buff Egan was even there to witness it and he was then taken for dinner, drinks and some celebratory golf by Ross King and Jack Kelly.What it all means is that Laois are into the All Ireland quarter-finals for the first time in 40 years.They’ll play Tipperary in Croke Park next Sunday at 4pm as part of a double header with the other quarter-final between Cork and Kilkenny.We are blessed in Laois to have Jack Nolan on our airwaves on Midlands 103.Jack covers the length and breadth of the country covering games and yesterday he was joined by Tipperary native Shane Stapleton on commentary.“The shock of the year!” Nolan declared at the full-time whistle.Skip to around 1:16:00 to enjoy the final few minutes of local radio commentary in this dramatic encounter.SEE ALSO – In Pictures: Incredible scenes as Laois hurlers defeat Dublin WhatsApp Facebook WhatsApp Twitter Pinterest By Alan Hartnett – 8th July 2019 LISTEN: Relive every moment of Jack Nolan’s stirring Midlands 103 commentary on Laois win RELATED ARTICLESMORE FROM AUTHOR Facebook GAA Twitter Home Sport GAA LISTEN: Relive every moment of Jack Nolan’s stirring Midlands 103 commentary on… SportGAAHurlingLaois Senior Hurling Team Previous articleDeep sadness as much beloved Laois school principal passes awayNext articleWATCH: South Korean school children show their support to Laois hurlers in hilarious video Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin TAGSJack NolanMidlands 103 Here are all of Wednesday’s Laois GAA results Pinterest Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory GAA GAA last_img read more

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The Heritage unveil new €3 million refurbishment and rebranding in glittering gathering

first_img Pinterest RELATED ARTICLESMORE FROM AUTHOR By Aedín Dunne – 8th November 2019 Facebook Facebook Here are all of Wednesday’s Laois GAA results The Heritage’s new brand positioning captures everything that guests want from their own perfect escape.Chief Executive of FBD Hotels & Resorts, David Kelly, and General Manager of The Heritage, Ger Alley, officially re-launched the hotel in a glittering gathering.As part of the refurbishment, The Heritage upgraded the ground floor bar and restaurant of the hotel, as well as the afternoon tea space and ballroom.Another major part of the refurbishment was the spa and leisure centre, which is one of the largest such dedicated spaces in Ireland, boasting 7,000 square metres of treatment rooms, as well as a thermal suite and leisure facilities.Host for the evening was legendary broadcaster Marty Whelan, with live music from The Late Late Show band, The Camembert Quartet.Following a sparkling drinks reception, guests sampled a selection of canapés taking inspiration from the current A la Carte menu at The Heritage.General Manager Ger Alley said: “This is an important moment for The Heritage.“Getting to this point today wouldn’t have been possible without the support and energy from the team here at the hotel.“It’s incredible to see so many people coming out to support the re-launch of the hotel this evening.This is an exciting time for The Heritage, and we look forward to welcoming existing and new guests to the hotel in the coming future.” WhatsApp GAA 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin TAGSKillenardThe Heritage Home News Business The Heritage unveil new €3 million refurbishment and rebranding in glittering gathering NewsBusiness The Heritage unveil new €3 million refurbishment and rebranding in glittering gathering Pinterest Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory GAA SEE ALSO – Animal charity returns to Laois hunting for happy homes for rescue hens  GAA Previous articleLaois’s favourite type of takeaway revealedNext articleFamous Dublin nightclub no longer for sale as it is taken off the market by Laois owner Aedín DunneAedín graduated from University of Limerick with a degree in Journalism and New Media. She is a proud Townie with a passion for all things sports and doesn’t like to speak about the 2016 blip in Portlaoise’s bid to 10-in-a-row. The Heritage, formerly The Heritage Killenard, completed its €3 million investment, unveiling new refurbishment and rebrand in a ravishing event last night.Special guests from the world of entertainment, sport, and business joined General Manager, Ger Alley, and his team to celebrate the official re-launch of The HeritageThe major ground floor refurbishment showcases new age décor with opulent luxury to reflect the new brand positioning Twitter WhatsApp Twitterlast_img read more

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Laois man shortlisted for prestigious Teaching and Learning Research Fellowship

first_img Pinterest Laois man shortlisted for prestigious Teaching and Learning Research Fellowship By Alan Hartnett – 22nd May 2020 Home News Laois man shortlisted for prestigious Teaching and Learning Research Fellowship News WhatsApp Twitter Electric Picnic Dr Barry Ryan A Laois teacher has been shortlisted for a prestigious Teaching and Learning Research Fellowship.Dr Barry Ryan, a native of Wexford lives in Portarlington with his wife Teresa (nee McEvoy), who is originally from Portlaoise.Dr Ryan is a lecturer in Biochemistry and Programme Director at TU Dublin (formerly DIT) and has been shortlisted alongside nine others for one of Ireland’s most prestigious national individual teaching and learning awards in higher education.He is an award-winning and research-active applied scientist with a proven expertise in the practitioner use of, and leadership in, evidenced-based pedagogies in modern higher education settings.Barry is passionate about the practical implementation of research informed teaching and in supporting others in their personal development in this area.His teaching and learning philosophy promotes creation to empower and centralise all students across all levels within undergraduate curricula.He is concurrently a Senior Fellow of the Higher Education Academy and a Chartered Science Teacher.Speaking about the Teaching and Learning Research Fellowship, Dr Barry Ryan, said: “It is an honour to be shortlisted for the inaugural Irish National Forum for the Enhancement of Teaching and Learning Research Fellowships.“These Fellowships recognise sustained commitment to teaching and learning practice and scholarship and will shape and inform the direction of Higher Education in Ireland.“It is a great personal achievement to be considered for this Fellowship in light of ongoing developments in this space by our excellent colleagues.”The final fellowship winners will be announced later this summer.Best of luck Barry!SEE ALSO – Laois man scoops big job with British and Irish Lions ahead of 2021 Tour TAGSDr Barry RyanTU Dublin Facebook WhatsApp Previous articleCalls for Coronavirus testing for all residents and staff at Laois’s four Direct Provision CentreNext articleBREAKING: New Laois music and arts festival rescheduled to 2021 Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival RELATED ARTICLESMORE FROM AUTHOR Electric Picnic organisers release statement following confirmation of new festival date Facebook Twitter Pinterest News Electric Picnic Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role last_img read more

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IOSCO calls for comments on governance of OTC derivatives data

first_img Facebook LinkedIn Twitter James Langton CSA seeks changes to derivatives rules CSA delays margin requirements for OTC derivatives Related news Derivatives markets grow, ESMA reports As part of the ongoing effort to enhance oversight of the over-the-counter (OTC) derivatives markets in response to the financial crisis, the International Organization of Securities Commissions and the Committee on Payments and Market Infrastructures on Thursday issued a consultation paper on governance arrangements for OTC derivatives data.The paper forms part of an overall effort to harmonize OTC derivatives data reporting to enable regulators to aggregate market data on a global basis. Regulators are seeking aggregated global derivatives data reporting to ensure that they have a comprehensive view of OTC derivatives markets.In the aftermath of the financial crisis, the G20 pledged to ensure that all OTC derivatives contracts are reported to trade repositories, in an effort to improve transparency in these markets; with the ultimate goal of mitigating systemic risk and helping to prevent market abuse.Regulators are seeking feedback on the consultation by Sept. 27. Keywords Over-the-counter securities and derivativesCompanies International Organization of Securities Commissions Share this article and your comments with peers on social media Close-up Of Two Businessman Analyzing Graph On Digital Tablet andreypopov/123RFlast_img read more

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Public Urged to Participate in Abortion Consultations

first_imgAdvertisements RelatedPublic Urged to Participate in Abortion Consultations RelatedPublic Urged to Participate in Abortion Consultations FacebookTwitterWhatsAppEmail Minister of Health, Hon. Rudyard Spencer, has called on Jamaicans to get activity involved in the abortion consultations now underway.He said that the public’s views and recommendations will inform the deliberations of the Joint Select Committee of Parliament, which is considering the final report of the Abortion Policy Review Advisory Group.“I want you to be actively involved, I want you to participate so that we can have some fulsome discussions, and give the (Joint Select) Committee something to mull over,” he told the packed audience at the first island wide consultation held on Wednesday (Jan. 20) at the Montego Bay Civic Centre.He said that the review process has been taking place since 1975, and hopefully, the present committee will make some final recommendations, which can inform a national abortion law.Members of the Joint Select Committee were on hand to listen to and make note of the opinions and recommendations of the participants.Two more consultations will be held, and then the committee will have a chance to assess all the recommendations it has received, which will guide the relevant legislation to be drafted for implementation.Minister Spencer expressed the hope that the Joint Select Committee can finish its work and forward its recommendations within this legislative year.The World Health Organization (WHO) estimates that there are 35 illegal abortions per 1,000 women in Jamaica annually. Illegal abortions are seen as a major contributor to the increase in maternal deaths over the past eight to ten years.center_img RelatedPublic Urged to Participate in Abortion Consultations Public Urged to Participate in Abortion Consultations Health & WellnessJanuary 24, 2010last_img read more

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Construction Skills Action Plan delivering early on targets

first_imgConstruction Skills Action Plan delivering early on targets Hon Poto Williams The Construction Skills Action Plan has delivered early on its overall target of supporting an additional 4,000 people into construction-related education and employment, says Minister for Building and Construction Poto Williams.Since the Plan was launched in 2018, more than 9,300 people have taken up education or employment opportunities in the construction sector through cross-government initiatives.“This is an important milestone and a positive step towards meeting New Zealand’s current and future construction needs,” says Poto Williams.“Our priority is addressing New Zealand’s current skills shortage, so that we have the capability and capacity to meet increasing demand. By surpassing our overall target to get an extra 4,000 people into the sector, we are confident we are well on the way to creating the conditions for a high-performing construction sector in Aotearoa New Zealand.”The Construction Skills Action Plan, managed by the Ministry of Business, Innovation and Employment (MBIE), addresses issues around size and skills of the workforce to ensure the construction industry is well placed to deliver the buildings that New Zealand needs now and in the future.The Plan is a three-year programme of initiatives led by the Ministry of Social Development, Tertiary Education Commission and MBIE.“I’m also pleased to report that three of the initiatives have met their three-year targets early – Mana in Mahi has achieved more than 2,200 placements in the construction sector, Skills for Industry has supported more than 1,600 participants, and Growing Careers and Credentials has supported more than 5,200 enrolments,” says Poto Williams.“I’m proud of what this Plan has achieved so far – we are reaching into our communities to give people the support they need to build their own futures in construction.”Further initiatives to grow the capacity and capability of the workforce are being supported through the Construction Sector Accord’s people development workstream via the Accord Transformation Plan. The workstream is focussed on attracting a more diverse range of people into construction opportunities, growing the size of the workforce and supporting the upskilling of people and businesses in construction. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:building, Building and Construction, business, Commission, construction industry, education, employment, Government, industry, innovation, Minister, New Zealand, participants, Skills, Social Development, Williams, workforcelast_img read more

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