LNG tax relief welcomed by government and industry alike

first_imgPremier Clark says “independent research” shows the potential of a total industry investment of $175 billion and up to 100,000 new jobs if five LNG plants are built.“This measure will allow companies investing in new facilities that liquefy natural gas to create jobs and economic growth, while recovering their investment more quickly,” MP Zimmer writes. “It will also encourage investment in facilities that liquefy natural gas to supply emerging international and domestic markets.”There are currently 19 LNG proposals in B.C. – 10 of which have received export approval by Canada’s National Energy Board.There has yet to be a singe LNG proponent to come forward with a final investment decision.Advertisement “This is great news for the creation of LNG jobs in British Columbia, and great news for Canada,” writes Premier Christy Clark. “We have been working with the federal government and industry for some time to achieve this outcome, and I am pleased they have delivered today.”The new tax relief is a capital cost allowance rate of 30 per cent for equipment used to liquefy natural gas and 10 per cent for infrastructure at the export facility.Prince George-Peace River MP Bob Zimmer says he’s been an advocate of an LNG tax relief for some time now.- Advertisement -“This is personally something that I have been working hard on and to see it come to fruition is extremely rewarding,” MP Zimmer writes. “I would like to thank the Prime Minister for his commitment to the LNG industry and to the people of British Columbia.”This tax relief will be available for capital assets acquired after February 19, 2015 and before 2025.“[This] announcement by the federal government encourages the development of a robust LNG industry in British Columbia,” President of the BC LNG Alliance David Keane writes. “…The B.C. LNG Alliance and its members will continue to work with First Nations and stakeholders to ensure there are policies and programs in place that enable our industry to reach its full potential.”Advertisementlast_img read more

The Sandals Foundation Partners With The Salvation Army Red Cross to Assist

first_img Related Items:#magneticmedianews, The Sandals Foundation Facebook Twitter Google+LinkedInPinterestWhatsApp Sandals Foundation Delivering Emergency Relief In Turks & Caicos Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsAppTurks and Caicos, September 11, 2017 – Providenciales – Beaches Turks and Caicos, the largest private employer on the island with a staff of 1850, today sent representatives on the ground in TCI to assess the Hurricane damage on the island and see how best they can help with relief efforts.The Foundation arm of the Resort company, Sandals Foundation has so far partnered with the Salvation Army and The Red Cross TCI to raise funds and assist with donations across the islands, while continuing the promote hurricane relief efforts internationally.“My team and I did an assessment of the island, it looks pretty depressing. It’s really sad to see the condition of the damages and people looking so destitute and so sad, but our goal is to bring some sort of relief in any measurement”, Public Relations Director of the Sandals Foundation, Eleanor Kryzanowski stated.“We’re also targeting local churches cause I know the churches are doing a lot for the community as well. So we’re hoping to work with a lot of those religious leaders and organizations just to bring some relief to the communities that we may not be able to directly touch”, she added.The Sandals Foundation says their goal is to touch as many lives as possible and bring relief to the islands in the best way they can.last_img read more

Rinspeed Microsnap shrinks down for CES 2019

first_img Share your voice Concept Cars Electric Cars Auto Tech Rinspeed MicroSnap is a tiny, do-it-all electric pod Self-driving cars Last year at CES 2018, Rinspeed showed off its wild Snap concept, which blended autonomy with a hot-swappable “skateboard” platform. Rinspeed must have invented a shrink ray in the last year, because at CES 2019, it’s a fair bit smaller.Say hello to the Rinspeed MicroSnap, the latest concept from the wild minds behind the Swiss vehicle design house. Building on last year’s Snap, the MicroSnap shrinks the whole concept down to the size of a Renault Twizy, a European-market electric two-seater. Like its big-boy brethren, the MicroSnap’s platform is meant for fast swapping of the pods on top, which can be used to transport people or goods, depending on need.So why shrink it? Rinspeed says it’s to accommodate the explosion of online ordering, including fresh groceries. By making its concept small enough, the MicroSnap can focus on targeted deliveries that ensure fresh food arrives fresh. That idea works for human transportation, as well, offering direct routes without wasting time dealing with multiple parties.Enlarge ImageIt’s ready for both work and play, just not at the same time. Rinspeed “Customers increasingly want prompt deliveries and many passengers are unwilling to use shared taxis, which have to take time-consuming detours by design,” said Frank M. Rinderknecht, owner of Rinspeed, in a statement.Rinspeed never stops at the design stage with its concepts. The MicroSnap has been thought through from soup to nuts. It can display digital license plates, and the exterior lights use different colors to communicate different concepts to pedestrians. The human-transport pod can track a rider’s health and change the interior lights to improve the mood. There’s a 49-inch curved LED screen offering interaction for riders. There’s even an iris scanner to recognize occupants. It’s also 5G-capable, because of course it is.As you might expect, the Rinspeed MicroSnap is entirely electric. All the wear-and-tear components are relegated to the “skateboard” platform at the bottom, and Rinspeed says that they can be swapped in and out relatively quickly. As for the actual pod swapping itself, Rinspeed also create a robot assembly that uses articulating arms to remove and replace pods depending on what the concept needs to do next. It’s some real pie-in-the-sky stuff, but that’s what CES is all about. 2020 BMW M340i review: A dash of M makes everything better More From Roadshow 2020 Kia Telluride review: Kia’s new SUV has big style and bigger value Self-driving cars: Stay up to date on all the latest news in autonomy.CES 2019: Check out our favorite gadgets from the show in this constantly updating gallery. 0 Post a comment 41 Photos CES 2019 2020 Hyundai Palisade review: Posh enough to make Genesis jealous Tagslast_img read more

RMZ waiting for clarity on dividend distribution tax before IPO

first_imgRMZ Corp, real estate developer and investor, would wait for signals from the government on dividend distribution tax (DDT) before finalising its initial public offering (IPO), a senior company executive said on Thursday.”We are looking for clarity on the dividend distribution tax and stamp duty in the (upcoming) Union Budget based on which we will decide on how and when to get listed,” the executive told IB Times Media on the condition of anonymity.”India is our first priority for listing and if it does not work out, we will look at Singapore,” he added.In India, dividend is tax-free at the hands of shareholders but the company that distributes dividend is liable to pay tax to the government. “This comprises DDT of 15 percent along with a surcharge of 12 percent and education cess of 3 percent (inclusive of surcharge). Provisions exist to remove the cascading effect of DDT in a holding company-subsidiary relationship,” according to a KPMG note.The Budget session of Parliament will begin from 23 February and end on 13 May, 2016. The railway budget will be presented on 25 February and the union budget on 29 February. The economic survey will presented on 26 February.Bengaluru-based RMZ hopes to close FY2016 with lease rentals of $200 million and is currently outperforming the market in terms of rentals.”Rentals are growing in the range of 5 percent to 7 percent every year overall, but we are growing at a rate of 10 percent to 12 percent,” the executive said, attributing it to “premier” locations of the company’s office properties and better asset management.The executive said further that the company would be investing about $500 million in the next 12 to 18 months to take its current 20 million sq ft office property portfolio to 80 million sq ft by 2021.Qatar Investment Authority (QIA) has an investment of about $300 million and Barings Private Equity Partners has invested about $100 million in RMZ Corp.RMZ Corp’s office properties are located in Bengaluru, Chennai, Pune, Mumbai and New Delhi.The company recently purchased Essar Group’s Equinox Business Park in Mumbai for about $360 million, according to a Business Standard.last_img read more