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Direct Line profit slumps as major costs hit home insurance division

first_img Direct Line said it would buyback up to £100m of shares and declared a final dividend of 14.7p. Direct Line saw profit drop in 2020 as weather-related costs in its home insurance line offset a strong performance in its motor business. Weather costs increased to £43m from £6m in 2019, while gross written premiums edged 0.7 per cent lower to £3.18bn. Monday 8 March 2021 7:44 am “Turning to the year ahead, we feel confident that we can build on the momentum we’ve created and become a tech and data driven insurance company of the future with our customers at its heart.” whatsapp Also Read: Direct Line profit slumps as major costs hit home insurance division Damian Shepherd Share Also Read: Direct Line profit slumps as major costs hit home insurance division center_img The firm said operating profit fell 4.5 per cent to £522m, while pre-tax profit plummeted 11.4 per cent to £451m. “We are a business that is proud to deliver strong returns to shareholders and to challenge itself to be a force for good,” James said. Tags: Company Direct Line Insurance Group Show Comments ▼ Penny James, CEO of Direct Line, remained positive in the wake of the results. Direct Line profit slumps as major costs hit home insurance division whatsapplast_img read more


Stalling London house market falls behind Northern Ireland’s

first_img Stalling London house market falls behind Northern Ireland’s THE SCOTTISH and Northern Irish housing markets are more buoyant than the stalled sector in London, the Royal Institution of Chartered Surveyors (RICS) said today.Overall the housing market is still rising – the number of surveyors reporting rising prices outweighed those reporting falling prices by a margin of seven per cent in January.But in London, a net balance of 49 per cent said prices are on the slide.By contrast a balance of 47 per cent in Northern Ireland and 38 per cent in Scotland said prices are rising.The surveyors predicted a steady rise in prices over the forseeable future.“The volume of home starts will still fall considerably short of the number of new households being formed, let alone making a dent in the historic shortfall of housing across all tenures,” said RICS’ chief economist Simon Rubinsohn. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldLivestlyThe Best Redhead Actresses, RankedLivestlyNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach Raider Share whatsapp Tags: NULLcenter_img More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Wednesday 11 February 2015 8:49 pm Express KCS Show Comments ▼ whatsapplast_img read more


News / DB Schenker sues for $3.3bn in damages from carriers in air freight price cartel

first_img German logistics provider DB Schenker today revealed that it has launched two civil litigation suits against a number of airlines convicted of anti-trust price-fixing, after failing to reach “acceptable” out of court settlements.The state-owned company believes it could be in line to receive as much as $3.3bn in damages after filing a case in New York against Air France-KLM, Martinair, Cargolux, SAS, ANA and Qantas, and a second in Cologne against Lufthansa, Qantas, Cargolux, SAS, British Airways, Swiss, LAN, Singapore Airlines, JAL, Air Canada and Cathay Pacific.Both actions cover the fuel and security surcharge price-fixing activities that took place between 1999 and 2006, for which a range of airlines have been found guilty in a number of jurisdictions resulting in a number of large fines imposed.In both jurisdictions, DB Schenker is claiming not only for damages but also for the interest accrued on those damages in the intervening period. By Gavin van Marle 01/12/2014 The company’s head of group regulatory, competition and antitrust, Christopher Rother, said that a combined award for both damages and interest could amount to as much as $1.1bn in the US – which covers all flights into and out of and around the country during the period – and $2.19bn in the German case, where the court will have jurisdiction over a number of other geographies because a certain portion of the business was conducted in Germany.While there have already been a number of class actions launched against airlines in the US by forwarders, some of which DB Schenker took part in and was awarded damages, Mr Rother said that the company had not reached any agreement with the airlines named today.“As a result of the class actions, many airlines settled with their customers. At DB Schenker we had two options – we could either accept that the award was fair and reasonable and get our share of the quota of the settlement, which we did in some cases; or in other cases we felt that the damages were not enough and we opted out of those cases.“These cases we are announcing today are those where we were unable to settle because their offers were inadequate.”The price-fixing centred on two areas of collusion – airlines agreed on the methodology and amount of fuel and security surcharges; and they also colluded not to pay “standard commissions on the surcharges they were adding to base rates”.“Litigation is not a means in itself and as a matter of principle we prefer to settle disputes with our business partners outside courts by discussion and negotiation, but the defendants refused to meet our claims and we have been left with little choice but to pursue via courts.“Also, as state-owned company we ultimately have a responsibility to the German taxpayer to have compensation for these sort of losses – it is what our employer and shareholders expect,” he said, adding he hoped the claims would also act as a “deterrence against future conspiracy”.“All our business partners should know that when they try to defraud us we won’t let them get away with it,” he said.Separately, he told The Loadstar that the cases could take “many years”, and hoped this may encourage airlines into settling earlier.“We are relatively confident that having to face two complaints in two major jurisdictions, that they will come to out-of-court settlements.”One airline named in the documents, contacted by The Loadstar, spoke on condition of anonymity and agreed that the move appeared to be a strategy to gain an out-of-court settlement.“We are really irritated at how they are doing this. They are doing a big media communication before it’s in court – they are trying to put pressure on the airlines to get a settlement,” the executive said, adding that it would have “no impact” on their day-to-day working relationship.However, he did question exactly how much damage air freight forwarders suffered, given that surcharges were passed directly to shippers.“We believe there was no real financial damage to our customers. These are extremely high figures in a low-margin industry, and they would have passed the surcharges on to their customers – so who suffered the damage, the forwarders or the shippers?“It’s a dangerous development that makes life difficult for everyone. Having legal issues is normal, but is it wise to fight such a war in the media? It’s highly unusual.”Joost van Doesburg, head of air freight policy at the European Shippers Council, agreed: “It’s surprising; they are simply not a victim of this cartel. They passed on the surcharges, and if I was a DB customer from that time I would want to know when I will be getting my money.“I don’t think this will be a popular step, and I’m surprised they’ve gone in this direction,” he said.Nonetheless, if the courts agree with DB Schenker’s assessment of the damage it has received – Mr Rother revealed that the company economist’s report on the case amounted to 3,200 pages – the impact on the air freight industry could be enormous. Company spokesman Jens-Oliver Voss said it had a 7% market share in air freight.“That gives us an indication of how damaging this price inflation has been,” said Mr Rother, which added that the cartel was “one of the biggest and best functioning cartels in business history”.DB Schenker was one of the participants of the so-called “Gardening Club” cartel. “Many European exporters and consumers of imported goods may have been harmed as a result,” said EU Competition Commisioner Joaquín Almunia at the time.Additional reporting by Alex Lennanelast_img read more


Pyongyang Accuses Life Funds for North Korean Refugees of Abducting North…

first_img Tracking the “unidentified yellow substance” being dried out near the Yongbyon Nuclear Center Analysis & Opinion By Daily NK – 2006.02.13 2:33pm AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] RELATED ARTICLESMORE FROM AUTHOR Is Nuclear Peace with North Korea Possible? SHARE Facebook Twittercenter_img Analysis & Opinion Analysis & Opinion Analysis & Opinion Pyongyang Accuses Life Funds for North Korean Refugees of Abducting North Korean Citizens HRWF Int. (01.10.2006) – Website: http://www.hrwf.org – Email: [email protected] – North Korea is accusing Mr Kato Hiroshi, secretary-general of Life Funds for North Korean Refugees (LFNKR) and six other Japanese NGO members of abducting North Korean citizens. The accusations came during the 3-day bilateral talks with Japan, which, it was hoped, would help to resolve the ongoing dispute over Japanese citizens abducted by North Korean agents during the last three decades. The talks were held in Beijing. The Japanese envoy urged Pyongyang to return the abductees, draw open the official secrecy that has long veiled the issue, and hand over the perpetrators to face justice. In response, delegate Kim Chol Ho (head of the North Korean Foreign Ministry’s Japanese Affairs Section) accused Kato Hiroshi and six other members of Japanese NGOs of abducting North Korean citizens. Kim urged the Japanese government to hand over these seven people. Each of the NGOs mentioned is actively engaged in helping North Korean refugees and escapees. Delegate Kim said the crimes by these seven are “conspiracy against the state” according to his country’s criminal code.Mr. Kato and all LFNKR members work to provide food, clothing, shelter and medicines for North Korean refugees who leave their own country seeking survival. LFNKR also provides North Korean orphans with education where possible. In some cases, North Korean escapees have sought their help in escaping from China and resettling in Japan where they will be free from the threat of repatriation. The North Korean government has now labeled this help a serious crime. Pence Cartoon: “KOR-US Karaoke”last_img read more


B.C. man fined $65,000 for selling U.S. securities

IE Staff The commission panel concluded that the structure of the transactions was a transparent scheme to avoid compliance with securities laws. Global 8 has been cease traded in British Columbia. Dyer sold the Global 8 securities through Pacific Ocean Resources Corporation, a Langley-based company that he owns. Dyer and his company are not registered to sell securities in B.C. Pacific Ocean was also sanctioned. The panel also found that Dyer never met any of the investors, but illegally telephoned them at their residences. The panel prohibited Dyer from buying and selling securities and acting as a director or officer of any issuer for 10 years. The panel also prohibited Dyer, for the same period, from becoming or acting as a registrant or promoter, from acting in a management or consultative in connection with the securities market, and from engaging in investor relations activities. Dyer was ordered to pay a $65,000 fine. A British Columbia Securities Commission panel has sanctioned a Richmond resident for breaking securities laws by selling securities for a U.S. company without registration. In December 2011, a commission panel found that Donald Verne Dyer raised US$836,000 from 83 investors from across Canada and the U.S. for Global 8 Environmental Technologies Inc., a Nevada company quoted on the U.S. over-the-counter markets that has never filed a prospectus in B.C. Companies British Columbia Securities Commission Facebook LinkedIn Twitter Share this article and your comments with peers on social media read more


Building Stronger Aboriginal Communities

first_imgBuilding Stronger Aboriginal Communities VIC PremierThe Andrews Labor Government is putting more shovels in the ground and building the infrastructure that will keep Aboriginal communities strong.Minister for Aboriginal Affairs Gabrielle Williams was in Heywood today to announce $8.3 million to be shared by 14 Aboriginal organisations, helping them build their dream infrastructure projects and improve the lives of their communities.Among the successful projects, Winda-Mara Aboriginal Corporation has secured $1.5 million to build a new health centre at Heywood, providing standalone health services, dental, allied health and clinical services to address significant shortages in Aboriginal health care in the area.Gunditjmara Aboriginal Cooperative will get $1.5 million to redevelop the front of its main headquarters in Warrnambool.Nairm Marr Djambana will get $1.2 million to renovate its facilities and repurpose them into a neighbourhood hub design so that they are more accessible, while the Victorian Aboriginal Health Service will receive $976,000 to upgrade its facility in Preston.Boosting the quality and safety of community buildings makes it easier for organisations to do their work and provide services, while also making them more accessible and attractive for people to visit and come together as a community.The Aboriginal Community Infrastructure Program has delivered 39 projects since it was established in 2017, including early learning centres, social housing and other upgrades.Beyond bricks and mortar, it also funds the development of feasibility studies where Aboriginal organisations can undertake a formal analysis of their infrastructure needs and bring their vision to life.Aboriginal organisations can apply for more funding early next year.As stated by Minister for Aboriginal Affairs Gabrielle Williams“We’re empowering Aboriginal organisations across Victoria to identify, design and develop their own infrastructure projects that will benefit their communities, but also help deliver sustainable economic outcomes.” “We all need and deserve a safe place to come together – this program is about securing that for all Aboriginal Victorians.” /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:Aboriginal, Andrews, AusPol, Australia, building, community, Government, Gunditjmara, health services, Heywood, infrastructure, Minister, outcomes, quality, sustainable, Victoria, Warrnambool, Williamslast_img read more


Hyundai Veloster redesigned for 2019 – and it packs a punch

first_imgRELATED What is it? A much-needed remake of Hyundai’s lopsided — the South Korean company calls it asymmetrical — hatchback.Why does it matter? The Veloster plays in the sport compact segment that is the Young Turk’s stepping stone to a mature automobile. To sell 37-year-old Bob with one screaming kid (and another on the way) his first sedan or full-sized SUV, you first have to sell 28-year-old Bob something that stimulated his loins in a different way. Hence the Veloster’s importance.When is it coming? Spring 2018 for the standard Veloster, and the Veloster N – more on that later – should arrive by the end of 2018. advertisement COMMENTSSHARE YOUR THOUGHTS Created with Raphaël 2.1.2Created with Raphaël 2.1.2 2019 Hyundai Veloster Trending in Canada RELATED TAGSHyundaiVelosterDetroitDetroit Auto ShowNews Should you buy it? That depends. If you’re thinking the Veloster Turbo — even its top-flite R-Spec guise — is a Honda Civic Type R competitor, then you’ll likely be disappointed. If you’re looking for a slightly offbeat sporty — but not sports — crossover then the Veloster has a lot going for it. Base versions get a new version of Hyundai’s 2.0-litre, uhm,“Nu” engine, this one running the Atkinson cycle for better fuel economy. That limits its maximum horsepower to 147 horses, but there is 132 lb.-ft. of torque available. Created with Raphaël 2.1.2Created with Raphaël 2.1.22019 Hyundai VelosterDerek McNaughton, Driving Created with Raphaël 2.1.2Created with Raphaël 2.1.22019 Hyundai VelosterDerek McNaughton, Driving Created with Raphaël 2.1.2Created with Raphaël 2.1.2Derek McNaughton, Driving Created with Raphaël 2.1.2Created with Raphaël 2.1.2Derek McNaughton, Driving Created with Raphaël 2.1.2Created with Raphaël 2.1.22019 Hyundai VelosterDerek McNaughton, Driving Created with Raphaël 2.1.2Created with Raphaël 2.1.22019 Hyundai VelosterDerek McNaughton, Driving Created with Raphaël 2.1.2Created with Raphaël 2.1.22019 Hyundai VelosterDerek McNaughton, Driving Created with Raphaël 2.1.2Created with Raphaël 2.1.22019 Hyundai VelosterDerek McNaughton, Driving Created with Raphaël 2.1.2Created with Raphaël 2.1.22019 Hyundai VelosterDerek McNaughton, Driving We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Full coverage of the 2018 North American International Auto Show Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” The top-line 1.6-litre turbocharged “Gamma” four-cylinder remains much the same, pumping out 201 horsepower at 6,000 rpm and 195 pound-feet of torque as low as 1,500 rpm. Both engines come standard with a six-speed manual but, while the base 2.0L gets a six-speed automatic, the Turbo gets Hyundai’s own seven speed dual-clutcher.All Veloster get a torque-vectoring front differential and all-wheel independent suspension — MacPherson struts and rear multi-link system. The R-Spec gets a quicker steering box and more substantial sway bars — 24-millimetre front and 19-millimetre rear for less body roll. And for those that really like to play silly buggers, there’s more traction thanks to a set of gummy 225/40R18 Michelin PS4 Summer Performance tires.But the real news is the launch of the new Veloster N, that pumps a turbocharged 2.0-litre turbo-four in the Veloster’s engine bay. Its 275 horsepower may not quite match the Civic Type R’s 306 ponies but it certainly puts a little velocity in the — and I really didn’t mean this as a pun-ish play of words — Veloster. There’s also 260 lb.-ft. of torque, available as low as 1,450 rpm, distributed to the tarmac by something called a N Power Sense Axle design that, Hyundai says, features zero-scrub radius for more precise steering, better on-centre stability and increased steering linearity.Befitting its hot hatch status, the N also offers multiple driving modes including Normal, Sport, N, Eco and N Custom which all customize engine throttle response, engine speed rev-matching, tuning of the N Power Sense active differential, damping in the adjustable suspension, and even the vehicle stability control system’s yaw-control characteristics.Many pundits — including some of the less than sensitive amongst our own editorial team — have long denigrated the Veloster as a pale imitation of a hot hatch. The introduction of the N has more than put those complaints to rest. ‹ Previous Next ›last_img read more


VingDirect and bLoyal Announce Strategic Partnership to Strengthen Winery Loyalty

first_imgEmail AdvertisementSanta Rosa, CA – VingDirect and bLoyal today announced they have forged a strategic partnership providing a cohesive integration of the companies’ platforms used to focus on growing winery direct to consumer sales.As part of the partnership, VingDirect and bLoyal will provide wineries with an easily accessible view of their direct to consumer business by channel and customer type enabling wineries to quickly see opportunities to increase sales to customer segments.“Today’s announcement of our partnership is a great example of our dedication to helping wineries build their direct to consumer business,” said Tammy Boatright, president of VingDirect. “Through bLoyal’s platform which incents the capture of customer information and loyalty engagement, we’re able to help wineries create strategic and targeted marketing efforts that deliver results. ““We are excited to be partnering with Tammy and her team at VingDirect.  We share a common goal of helping wineries grow their direct to consumer business,” said Rob Carney, CEO of bLoyal.  “VingDirect’s marketing services and dashboards integrated with bLoyal provide wineries with the actionable insight needed to build loyal wine customers.”Armed with the tools to easily capture more customer information through bLoyal, VingDirect will provide consulting, training and automated dashboards to help wineries increase wine sales.About VingDirectVingDirect is focused on helping wineries grow direct to consumer sales. VingDirect dashboards provide wineries with a view of actionable metrics, automatically fed from the winery POS and wine club software systems. The benchmarking dashboard is the only one in the wine industry and allows VingDirect members to benchmark their tasting room performance against their winery peers.About bLoyalbLoyal delivers winery loyalty technology, automation, and integration across direct to consumer channels to help wineries maximize customer lifetime value.  The bLoyal platform integrates with winery platforms and systems to bring customer interactions into one place so wineries can grow their customer base, dynamically engage and strengthen customer relationships, and optimize loyalty programs through deeper customer insight.Advertisement TAGSbLoyalVingDirect Previous articleAfternoon Brief, Feb 12Next articleAfternoon Brief, Feb 13 Press Release Facebook Twitter ReddIt Linkedin Home Industry News Releases VingDirect and bLoyal Announce Strategic Partnership to Strengthen Winery LoyaltyIndustry News ReleasesVingDirect and bLoyal Announce Strategic Partnership to Strengthen Winery LoyaltyBy Press Release – February 13, 2014 31 0 Share Pinterestlast_img read more


Review of Green Paper on Sports Policy Progressing Smoothly – Neita Headley

first_imgReview of Green Paper on Sports Policy Progressing Smoothly – Neita Headley SportFebruary 21, 2012 RelatedReview of Green Paper on Sports Policy Progressing Smoothly – Neita Headley FacebookTwitterWhatsAppEmail Minister with responsibility for Sports in the Office of the Prime Minister, Natalie Neita-Headley, says a review of the Green Paper for the revised National Sports Policy is progressing smoothly. She said the consultation process is being co-ordinated by a team, headed by the Hon. Michael ‘Mike’ Fennel, which has volunteered its services and time to assist with ensuring that the process takes place quickly. “We have really given ourselves until June. The sports policy did not get the benefit of a thorough process of consultation, so we are actually working backwards. We are now ensuring that the ideas that came out of the policy document, initiated earlier in the 2000s, will be incorporated in what is going to be the final paper that is going to be the policy document,” the Minister told JIS News in an interview last week. Mrs. Neita-Headley pointed out that  the vision and ideas of Prime Minister, the Most  Hon. Portia Simpson Miller, will be incorporated in the document. “She has a great passion for sports, and the policy will also incorporate some of what I think is going to be very important in ensuring that we see sports as a business here in Jamaica and not just as something for a good time,” she added. According to the Minister, the policy will not only ensure that the country “earns tremendously” from the sporting industry, but that it appeals to all facets of  “who we are, our recreation, our community development and our career development.” Meanwhile, Mrs. Neita-Headley said she will be focusing on improving conditions at the G.C. Foster College of Physical Education and Sports in St. Catherine. Recently, ground was broken at the College for the construction of the first international standardised baseball field in Jamaica.   She informed that the establishment of a proper sports museum, a wellness centre for athletes and sport goods manufacturing are among the areas of focus for the development of sports. Mrs. Neita-Headley said the Ministry will be working quickly on the re-establishment of a National Sports Council, which will serve as an Advisory Board to all sporting agencies. “There’s no cohesive or harmonious body that is pulling it all together and I think that is one of the first things that we can accomplish,” she added. By E. Hartman Reckord, JIS PRO RelatedReview of Green Paper on Sports Policy Progressing Smoothly – Neita Headley RelatedReview of Green Paper on Sports Policy Progressing Smoothly – Neita Headley Advertisementslast_img read more


Copyright Law to Boost Investment in Creative Industries – Senator Golding

first_imgStory HighlightsMinister of Justice, Senator the Hon. Mark Golding, says the new copyright law will provide incentive for further development of the country’s creative industries.He made the comment as he closed the debate on the Copyright (Amendment) Act in the Senate on Friday, June 26. The Bill was passed with six amendments.Senator Golding said the legislation is an important part of the “legal architecture of encouraging creative industry investment in this country,” noting that Jamaica can become a hub where people operate creative businesses. Copyright Law to Boost Investment in Creative Industries – Senator Golding JusticeJune 30, 2015Written by: Garfield Angus RelatedCCJ Will Ensure Access to Justice for Jamaicans Advertisements FacebookTwitterWhatsAppEmail center_img RelatedPublic Campaign to Discourage Irresponsible Ganja Smoking Minister of Justice, Senator the Hon. Mark Golding, says the new copyright law will provide incentive for further development of the country’s creative industries.He made the comment as he closed the debate on the Copyright (Amendment) Act in the Senate on Friday, June 26. The Bill was passed with six amendments.Senator Golding said the legislation is an important part of the “legal architecture of encouraging creative industry investment in this country,” noting that Jamaica can become a hub where people operate creative businesses.The Bill, which was passed on June 9 in the House of Representatives, extends copyright protection from 50 to 95 years, for content belonging to corporations.Authors of literary works, dramatic, and musical creations will also enjoy the added protection.Highlighting the benefits, Minister Golding said “corporate works…individual works, even the smallest creator of copyright can benefit, not only for himself, but for his family for a longer period of time.”The Justice Minister noted that Vision 2030 Jamaica has prioritised the creative industries as a key contributor to Gross Domestic Product (GDP), given the vast amount of talent in the country, and the fact that Jamaica is a global brand in music, performances, and other intellectual property (IP) works.Leader of Government Business, Senator Tom Tavares-Finson, noted that the Bill has bipartisan support, despite concerns over the 95 years protection, which might give too much advantage to foreigners.In the debate on the Bill in the House of Representatives, Opposition Spokesperson on Culture, Olivia Grange, argued that, because the extension only applies to protection in Jamaica’s jurisdiction, “what will happen is that we will, in fact, be paying out to foreign copyright holders in foreign exchange for the continued use of foreign works in Jamaica, while our own rights holders will only benefit up to the 50, 70 or 80 years that exist in other countries.”Senator Tavares-Finson also urged persons in the music industry to become familiar with the provisions of the Bill and their responsibilities.For her part, Senator Sophia Frazer-Binns said the creative industry needs the protection of the entire society, and people can show their support by not buying bootleg material.Other contributors to the debate included Senators Kavan Gayle, Lambert Brown, and Wensworth Skeffery. RelatedTicketing Small Quantities of Ganja to Reduce Clogging of Courtslast_img read more