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first_imgThe Board Chairman of the Liberia Electricity Corporation (LEC), Ian Yhap, has disclosed that the turbine at Mt. Coffee Hydropower Plant, which has the capacity of 22 megawatts, will finally come on line on Thursday, December 15.Announcing the development yesterday at the Information Ministry’s regular Thursday press briefing on Capitol Hill in Monrovia, Yhap said testing of the first generating unit of the Mount Coffee Hydropower Plant in Harrisburg is ongoing in Caldwell to ensure that the inauguration of the 22-megawatt turbine on December 15 is successful. According to him, engineers from Mount Coffee Hydropower Plant and LEC are working now to have electricity on Bushrod Island from the hydro.When distribution on Bushrod Island is completed, he said, “We will now start to distribute power to other parts of Monrovia. As we speak today, serious work is ongoing and things remain in control.” Chairman Yhap said the second turbine, also with a capacity of 22 megawatts, will come on by February 15, 2017, with the remaining two turbines coming on after four months. “We want to thank the government and partners for the support. We want to also thank all the engineers for working tirelessly to ensure that we have power as scheduled,” Chairman Yhap said.Meanwhile, he said the board of LEC has appointed a new management team that is energetic, hardworking and motivated to steer the affairs of the corporation from January 2017.“We need to develop the capacity, because Liberians have not been managing such a system for many years. We have also called on our international partners to help in building our capacity. We have some new things now in LEC and everyone is going through the learning process,” he said. The first phase of the reservoir impoundment (filling the reservoir with water) of the Dam Project was successfully completed on October 19 this year. On October 15, the spillway gates were gradually closed in order to increase the water level in the reservoir, he said.Currently, the water level has increased to 28.5 meters above sea level, which is just 0.5 meters below the maximum operating level. During the testing exercise, he said customers may experience brief and periodic interruptions in power supply. The testing will continue up to December 15, when the first operations of the hydropower plant are officially inaugurated by President Ellen Johnson Sirleaf.Meanwhile, the LEC management has issued an apology for any inconvenience as a result of this exercise and has asked for the support of the Liberian people leading up to this very important milestone for the nation. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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first_imgTHE REVENUE Commissioners have announced €13.2 million in fines and back taxes issued against 72 people or businesses across the country.Four of those who have paid back taxes and/or paid fines are from County Donegal.They are: * Gerard Diver, Cashel, Gortahork, (builder), who paid more than €45k in taxes and more than €24k in penalties and interest. Total paid €70k.* John McConnell, Main Street, Ballybofey, (butcher) who paid more than €24k in taxes and more than €45k in penalties and interest. Total paid €69,888.* Rhona McLoughlin, 16 Upper Main Street, Buncrana (publican) who paid more than €35k in tax and more than €17k in penalties and interest. Total paid €52,323.* John McCrudden, 2 St Mary’s Road, Buncrana (plumber) who paid €77k in taxes and €31k in penalties and interest. Total paid to the Revenue was €108,359.The settlements were made between July and September this year and officially published by the Government. FOUR DONEGAL PEOPLE NAMED IN TAX DEFAULTERS LIST was last modified: December 6th, 2010 by gregShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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first_img Black Knight Financial Services First-lien originations Purchase originations 2016-09-05 Seth Welborn in Daily Dose, News, Origination September 5, 2016 659 Views Lenders Not Shying Away from Moderate-Credit Borrowerscenter_img Share While borrowers with pristine credit are still getting a majority of purchase loans, lenders are showing signs that they are willing to let borrowers with “moderate” credit in on the action, according to Black Knight Financial Services’ Mortgage Monitor for July 2016 released Tuesday.Two-thirds of purchase lending in the second quarter of 2016 went to borrowers with credit scores of 740 or higher, which is little-changed over-the-year, the number of “moderate” credit borrowers (those with credit scores between 700 and 739) increased by 13 percent.“This segment has seen the highest rate of growth over the last three quarters, and now makes up 19 percent of all purchase originations,” Black Knight Data & Analytics EVP Ben Graboske said. “On the other end of the spectrum, sub-700 score borrowers now account for only 15 percent of originations, with less than five percent going to borrowers with scores of 660 or below. Both of these mark the lowest share of low credit purchase lending seen dating back to at least 2000.”Purchase originations made up 57 percent of all first-lien lending during Q2, totaling $297 billion—a leap of 52 percent from Q1 (largely due to seasonality) and the highest level, both in terms of volume and dollar amount, in nine years.Overall, Q2 was the strongest quarter for mortgage originations in three years, according to Black Knight. A combination of continued purchase origination growth and refinance activity spurred by low interest rates resulted in $518 billion in first-lien originations during the quarter. Curiously, refinances did not increase at near the same rate as purchase originations over-the-quarter despite a decline of 15 basis points.“While purchase originations jumped more than 50 percent from Q1, refinances saw only an eight percent increase over that period, and were actually down from the same time last year, despite the number of potential refinance candidates outpacing 2015 by over one million in every month since March,” Graboske said. “That said, refinance lending has risen for three consecutive quarters and accounted for $221 billion in originations in Q2.”Click here to view the entire Black Knight Mortgage Monitor for July 2016.last_img read more

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