Latest news with #DevelopmentFund
Irish Independent
30-05-2025
- Business
- Irish Independent
Extra bedroom accommodation space sought at former hotel in Mayo
Ballinrobe Civic Arts & Amenity Company have lodged an application to Mayo County Council to reconfigure the ground floor, first floor and second floor as accommodation space. This includes the addition of two bedroom in the downstairs area formerly occupied by the restaurant. The Valkenburg Hotel had been closed for some time when it was acquired by the Ballinrobe Town Hall Committee in 2020 for €305,000 at public auction in 2020. In 2022, over €4.8 million was committed by the Department of Rural and Community Development under the Rural Regeneration and Development Fund to develop a multi-purpose space capable of providing accommodation and staging major shows and public gatherings. KSN Project Management have been appointed as project design team for the development. It had originally been planned to construct a new two-story town hall facility on a site on The Neale Road before The Valkenburg Hotel was placed on the market. The hotel has stood in Ballinrobe since the 1820s and is listed as a protected structure by Mayo County Council. It is said to have operated the first petrol pumps in the town in the 1920s. The hotel was acquired by the Langan family in 1973, who operated the facility for several decades. As well as a restaurant and six ensuite bedrooms, the Valkenburg also boasts a nightclub and copious public car parking spaces. It has been used for indoor gatherings on a limited basis in recent years. Activities including Irish dancing, yoga, training courses, club meetings, rehearsals, St Patrick's Day celebrations and the Ballinrobe Christmas Market took place there in 2024.
The Star
26-05-2025
- Business
- The Star
Penang records RM78.2mil surplus revenue as of May
Chow at the Penang State Assembly Building with other assemblymen.— ZHAFARAN NASIB/The Star PENANG has recorded a surplus of RM78.2mil in revenue as of May 20. Chief Minister Chow Kon Yeow said the figure was derived from the state's revenue of RM374.4mil compared with its RM296.2mil expenditure. The state's income comprised RM98.7mil in tax revenue, RM250.8mil in non-tax revenue and RM24.9mil in non-revenue receipts, he added. With the surplus, the state's consolidated fund account stood at RM235.5mil. Speaking during the state legislative assembly held at the Penang State Assembly Building in Light Street, George Town, Chow said the expenditures included RM170.2mil for grants and fixed charges (including contributions to the Development Fund). A total of RM71.3mil was spent for emoluments, RM48.7mil for services and supplies, RM3.7mil for assets and RM2mil for other expenses. 'Based on the breakdown, non-tax revenue was the main contributor, comprising 67% of the total state revenue. 'This included income from land premiums, service fees and investment revenue. Lim said Penang's homeless transit centre has provided aid to almost 500 people since it opened in September 2023. 'Tax revenue remained an important component of the revenue structure, comprising almost 26%. 'Non-revenue receipts such as loan repayments and various other receipts contributed about 7%,' said Chow who is also state finance, economic development, land and communications committee chairman. The House also heard that the Penang Welfare Department (JKM) spent over RM500,000 last year to operate the state's homeless transit centre on Jalan CY Choy in George Town. Penang social development, welfare and non-Islamic religious affairs committee chairman Lim Siew Khim (PH-Sungai Pinang) said the centre had provided aid to almost 500 people since it opened in September 2023. She said the centre's total operating cost in 2024 alone was RM532,519. 'The expenditure included RM246,830 for staff salary, allowances and incentives and RM158,189 for security guard services. 'Cleaning and maintenance contracts, including repairs to fire extinguishers, CCTV systems and water pumps cost RM93,332. 'A total of RM34,168 was spent for office management such as the purchase of office supplies, utility bills, rental payments, and raw materials,' she said, adding that the centre was managed by seven JKM officers. From September 2023 to April this year, Lim said 498 homeless people have been sheltered at the centre. 'Between January and April this year, 79 people were rescued from across all five districts in Penang,' she said. The centre provided temporary shelter and functioned as a welfare plus recovery support centre to help the homeless rebuild their lives. 'The centre with 78 beds should not be deemed effective only when it is full. 'Out of the 498 people rescued, 151 of them have gotten jobs,' said Lim. Earlier, Ong Ah Teong (PH-Batu Lanchang) had asked about the financial report of the centre while Lee Boon Heng (PH-Kebun Bunga) asked on the number of homeless people who have been rescued and placed at the centre.
Iraq Business
28-04-2025
- Business
- Iraq Business
World Bank and IMF meet with Iraqi Finance Minister, Central Bank
By John Lee. Iraqi Finance Minister, Mrs Taif Sami Mohammed, along with the Governor of the Central Bank of Iraq (CBI), Dr Ali Al-Alaq, participated in the Annual Spring Meetings of the World Bank and the International Monetary Fund (IMF), held in Washington from 20-23 April 2025. The discussions focused on global economic challenges, financial stability, and development, as well as other related issues, alongside general sessions, seminars, and side consultations. Minister Sami's participation began with a meeting with World Bank Executive Director, Mr Abdulaziz Al-Mulla, where they discussed Iraq's economic situation and the World Bank's role in supporting Iraq's reform programs, particularly in areas such as revenue maximisation, expenditure control, digitisation, electronic systems, and infrastructure and energy projects. She also met with Mrs Haila Sheikh Rouhou, Regional Vice President for the International Finance Corporation (IFC), to discuss investment barriers in Iraq and ways to address them. Key projects under IFC's supervision in the transportation, energy, and international trade finance sectors were also discussed. Sami highlighted IFC's potential support for Iraq's Development Fund projects, especially in supporting the private sector and agriculture. Additionally, the delegation, led by Minister Sami, held a high-level meeting with Mr Othman Dawani, Vice President of the World Bank for the Middle East, to review the Bank's funded projects in Iraq, particularly the rail project. The meeting aimed at overcoming obstacles to project execution and ensuring timely completion. They also discussed future government priorities, such as renewable energy, waste management, transportation (including metro systems), airports, and railways. Minister Sami participated in a ministerial meeting with IMF Managing Director, Mrs Kristalina Georgieva, where discussions centred on the global economic outlook, rising uncertainty, and its economic impact. The conversation focused on measures to enhance economic resilience, manage debt, and strengthen economic governance and the private sector to ensure regional economic stability. Mrs Georgieva also outlined IMF's humanitarian support for conflict-affected countries, including Gaza, Yemen, Syria, and Sudan. She emphasised the need for medium-term reforms, economic diversification, and the creation of financial buffers to promote fiscal sustainability and macroeconomic stability. The Iraqi delegation also met with Dr Mohamed Maait, IMF Executive Director, to discuss financial sector reforms in Iraq, and with Mr Jean Keum, IMF's Iraq mission head, to talk about the government's economic reform program aimed at bolstering both the oil and non-oil sectors while maintaining economic stability amid global economic challenges. In line with these meetings, Minister Sami engaged with the IMF's Financial and Technical Affairs Department to discuss technical support for Iraq's tax and customs authorities, particularly focusing on automation and legal amendments to improve their systems. Further discussions also included the completion of the unified treasury account and support for Iraq's pension and social security systems. The delegation also met with Mr Jihad Azour, Director of the IMF's Middle East and Central Asia Department, who reiterated the IMF's commitment to supporting Iraq's financial, banking, and monetary reform programs. These annual meetings bring together central bank governors, finance ministers, development ministers, private sector leaders, and civil society representatives to discuss global issues, including the economic outlook, poverty eradication, and effective aid. The event featured workshops, regional briefings, and press conferences focused on global economic and international development challenges. (Source: Ministry of Finance)
Express Tribune
20-04-2025
- Business
- Express Tribune
Edu boards increase registration fees
The education boards have announced a hike in the registration fees for ninth and tenth-grade students for the upcoming academic sessions of 2025 to 2027. According to the new fee structure, the total registration cost has been increased to Rs2,910, which includes the actual registration fee of Rs1,100. Additionally, the fee breakdown consists of Rs630 for processing, Rs300 for the Board Development Fund, Rs180 for a scholarship fee, and Rs200 for sports activities. In a separate charge, schools will collect Rs500 as the respective school fee. The new fee applies to both government and private schools, with institutions collecting an additional Rs300 to Rs500 for other services. The registration process is scheduled to begin without a late fee on May 29, 2025. A late fee of Rs600 will apply for registrations between May 30 and June 13. Students who are 11 years and 2 months old by August 1, 2025, are eligible for registration. The process will be conducted online, but schools will be required to submit a hard copy of the registration along with the online submission. Furthermore, students must present their B Forms as part of the registration process. Educational authorities have emphasised that these changes are aimed at enhancing the development and improvement of the education system.
Jordan Times
26-02-2025
- Business
- Jordan Times
Sustainable employment project creates 4,450 jobs in industrial sector
The project provides support to 129 industrial companies, training more than 2,300 job seekers and preparing them for the labour market (JT file) AMMAN — The Sustainable Employment Promotion project on Wednesday has concluded, having successfully created 4,450 job opportunities in the Kingdom's industrial sector. Implemented by the Eastern Amman Investors Industrial Association (EAIIA) in partnership with the Trade for Employment (T4E) project, the initiative was funded by the German Agency for International Cooperation (GIZ), the Jordan News Agency, Petra, reported. The project provided support to 129 industrial companies, training more than 2,300 job seekers and preparing them for the labour market, while also enhancing the skills of production supervisors across multiple firms. During the closing ceremony, Minister of Industry, Trade and Supply Yarub Qudah stressed the ministry's commitment to boosting linkages within the industrial sector to enhance the added value of national products. He noted that the Industry Support and Development Fund aims to increase product value, integrate technology, and enhance competitiveness in the local and export markets. Qudah also announced that new grant agreements under the second phase of the fund's operations are planned to be signed by the end of next month. He stated that modifications to eligibility criteria will enable more industrial firms to access support, as the fund has received over 1,500 applications. The minister underscored the need to diversify the Kingdom's export markets and maximise the benefits of free trade agreements. He praised the project's success in generating employment in export-oriented industries, calling for its replication across other industrial clusters. He also highlighted the industrial sector's role as a "key" driver of economic growth, noting that every dinar invested in industry generates a threefold return. The government is working to lower energy costs by expanding natural gas supply to industrial zones, with six additional zones set to receive connections within two years, reducing costs by 40 per cent compared with heavy fuel use, the minister said. On trade expansion, Qudah noted that the ministry is pursuing strategic partnerships, including efforts to enter African markets through a free trade agreement with an African nation. He also reiterated Jordan's commitment to boosting economic ties with Syria, particularly in reconstruction efforts. The Mafraq Development Zone, located 18 kilometres from the Jaber border crossing, has been designated as a hub for reconstruction activities, with 18,000 square metres of storage and warehouse facilities under development. Jordan has also begun supplying electricity to Syria, covering key areas such as Nassib and the customs terminal. EAIIA Chairman Iyad Abu Haltam noted that the project aimed to boost youth employment in the industrial sector while helping companies attract skilled workers and sustain employment, particularly in export-driven industries. Over its six-year duration, the project facilitated 4,450 jobs and benefited 129 industrial firms. It also trained more than 2,300 job seekers and improved production supervision across more than 30 companies. The initiative organised job fairs and networking events to support long-term employment. Abu Haltam stressed the association's commitment to expanding this experience to other industrial zones and ensuring the sustainability of its employment support unit through ongoing programmes and partnerships. Since its launch in 2018, the project has created 6,139 sustainable jobs and provided 6,366 individuals with employability training, contributing to the labour market.
