Shareholder’s Agreement for air Jamaica/Cal merger to be signed April 30

first_imgRelatedShareholder’s Agreement for air Jamaica/Cal merger to be signed April 30 FacebookTwitterWhatsAppEmail KINGSTON — As the transition period for the merger of Air Jamaica Limited (AJL) and Caribbean Airlines Limited (CAL) draws to a close, a Shareholder’s Agreement is expected to be signed on April 30, Minister of Finance and the Public Service, Hon. Audley Shaw has revealed. In his Budget Debate presentation in Parliament yesterday, the Finance Minister noted that the one-year transition period, which began May 1, 2010 was necessary to ensure that control of AJL’s operations was successfully transferred to CAL, while allowing the time necessary for the Trinidad and Tobago-based company to secure the necessary licences and properly integrate the operations. “As of today, we have so far had a successful operation, and CAL has secured the rights to fly from Jamaica to North America, and has made significant progress in integrating both operations into one, while maintaining the strong Air Jamaica brand,” Minister Shaw said. He noted that the impending merger has been beneficial to the country as there has not been any disruption to airlift capacity, and the Government has avoided accruing additional losses from Air Jamaica. Minister Shaw further noted that the Government also received a refund of some US$2.4 million on external payables “based on the fact that we made efforts to liquidate expeditiously.” “It should be noted that last fiscal year, the Government budgeted US$204.3 million (J$17.6 billion) to pay out certain external payables, and we paid out only US$163 million (J$14.1 billion). We were therefore able to apply the difference to pay off a long-term loan and thereby save hundreds of thousands of US dollars in interest payments,” he noted.  Minister Shaw further informed that by the end of April 2011 the Government would have returned four of the six leased aircraft, based on negotiated early returns, which has saved the country significant future liabilities. The Finance Minister’s presentation was themed: ‘From Stabilisation to Growth’. Shareholder’s Agreement for air Jamaica/Cal merger to be signed April 30 ParliamentApril 29, 2011 RelatedShareholder’s Agreement for air Jamaica/Cal merger to be signed April 30 RelatedShareholder’s Agreement for air Jamaica/Cal merger to be signed April 30 By ALECIA SMITH, JIS Reporter Advertisementslast_img read more

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Microsoft seeks Skype boost with Swing acquihire

first_img Google taps retail with NYC store Devices Related Saleha Riaz Alianza sobre IA entre Nokia y Microsoft Previous ArticleAfghanistan, Indonesia drop WhatsApp ban threatsNext ArticleXiaomi moves into Western Europe AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 07 NOV 2017 Authorcenter_img Employees of Swing Technologies, maker of a photo app called SWNG, will join Microsoft’s Skype team to boost its imaging technology and customer experience expertise.In a statement, Microsoft’s corporate VP for Skype, Amritansh Raghav, said Swing brings “an impressive track record of delivering great user experiences and brand design around the technology they develop.”Tommy Stadlen, Swing’s co-founder (pictured, right), said: “This is a unique opportunity for the team to bring our ideas to a global audience…We believe in the power of brands and technology, so the Skype mission and values resonate strongly with us.”Swing is based in San Francisco and New York with the mission “to reimagine the photograph.”Its debut SWNG app allows users to create interactive “living photos” including 3D selfies and slow-motion videos: many of its senior employees have been recruited from Apple and Instagram.Swing is backed by investors and individuals including Twitter co-founder Biz Stone.The move is likely a wider revamp of Skype which is moving from just a calling app to a messaging app with features such as the recently announced Cortana integration. Nokia makes AI move with Microsoft Home Microsoft seeks Skype boost with Swing acquihire Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters – creating content, writing blogs and reports as well as conducting feature interviews…More Read more Tags MicrosoftSkypelast_img read more

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Loosening the green belt: a challenge no politician wants to take on

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