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RJR/Gleaner netball team, a symbol of new company

first_imgThe struggles and triumph of the newly combined RJR/Gleaner netball team symbolises the trials which the amalgamated entity will undergo during its teething phase and the values required to make a successful combined company, says RJR managing director Gary Allen.The RJR/Gleaner netball team, the first team to represent the newly joint media entities, is a perfect blueprint of how to make the integration a success, says Allen.In their first season as unified partners they took the Business House Intermediate ‘B’ title and placed second behind Division One Business House winners, Scotiabank at the Florida Classic in October.Initially, the coming together of both teams presented difficulties, but team captain Jennifer ‘Jenny Jenny’ Small said with respect, discipline, hard work, team-work, and a winning mentality they achieved the ultimate locally and just fell short of the top prize internationally.Allen added that the girls are an exemplary model for the new RJR/Gleaner marriage.”It’s (team’s success) a very significant accomplishment. It is the first combined effort at anything we have done since we merged and it is the first victory as an amalgamated entity, which psychologically is very important, and this is just the first victory of many I foresee,” he said.”It has been an introductory collaboration between two companies that have come together and it’s a signal to staff that we are going to be successful.”We have come together as two huge institutions and we are going to have issues and challenges, but once we are together like the netball team and the example they set for us, we will overcome and we will be successful,” Allen added.Netball captain, Small, said fusing the teams was strenuous, but they did it through sacrifices, hard work, and incentives.”The bigger history is not only combining successfully but we are champions,” said Small.”It was difficult to put the different personalities, characters, and two teams together. It took a time and knowing each other and learning to respect each other was the biggest part.””We had conflicts and we resolved those quickly, and one thing that worked well was incentives. They got rewarded every match. There were spa treatments, supermarket vouchers and we rewarded MVPs. But I had to learn the weaknesses and strengths of everyone, let them know the team needs them and every girl felt needed and that was what we did to get one unit,” Small explained.Allen said the team and its achievement has been a big part of the integration and their positive values helped them achieve it in short order. Now they want to encourage those values in the work force and achieve the same results.The team’s success has also enhance the company’s already massive image and they intend to continue using sports as a driving force for health and wellness in the organisation.Meanwhile, Small lauded the team’s performance, especially at the Florida Classic where she felt they could have gone one better had the tournament been better arranged.last_img read more

Meb runs final NYC Marathon to cheers, collapsing at finish

first_imgOSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson Meb Keflezighi of the United States approaches the finish line of the New York City Marathon in New York, Sunday, Nov. 5, 2017. (AP Photo/Seth Wenig)NEW YORK — Meb Keflezighi left it all on the course in his final New York City Marathon, blowing kisses and giving the thumbs-up to the adoring crowds in Central Park before collapsing at the finish line.Wearing his signature “MEB” bib, the 42-year-old Keflezighi led the pack early and finished 11th on Sunday in his 26th and final marathon in the city where he made his 2002 debut.ADVERTISEMENT MOST READ Perkins arrives to Phoenix practice way before call time, but still not the earliest Jake says relationship with Shaina ‘goes beyond physical attraction’ It’s too early to present Duterte’s ‘legacy’ – Lacson Trending Articles PLAY LIST 00:50Trending Articles01:30Volunteers spread Christmas cheer to migrant children01:54SEA Games: Tabugara delivers wushu gold for PH02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award “What a day for America,” Keflezighi said. “I heard she won at 24 (miles). I think I did a jump with both hands in the air.”NYC marathon race director Peter Ciaccia called this “the Mebathon.” He surpassed the great Grete Waitz of Norway with his 11th appearance here. Throughout his career, Keflezighi has produced eight top-10 finishes in New York.Five days after the bike path terror attack killed eight people near the World Trade Center, more than 50,000 runners from 125 countries and all 50 states ran through the various ethnic neighborhoods of the five boroughs.Keflezighi was ahead at Mile 7. He wound up about five minutes behind winner Geoffrey Kamworor of Kenya.Keflezighi’s dramatic victory at the 2014 Boston Marathon came a year after the deadly bombings there. He triumphantly broke the tape with the names of three victims and a slain police officer written on his bib, finishing in a personal-best time of 2:08:37.ADVERTISEMENT “Meb is Meb. There’s nobody quite like him,” she said. “It’s been a joy getting to know him through our sport. If this is in fact his last marathon, he’ll continue to be very involved in the sport at every level.”The face of American long-distance running, who became more familiar through Skechers shoe commercials, says he’ll coach, run as a pacer and work with youth through his MEB Foundation.“The marathon, you can’t act it,” he said. “From Mile 1 all the way, you have to get there somehow. That’s what life is. I hope I’ve been a good ambassador of the sport.”Sports Related Videospowered by AdSparcRead Next Jo Koy: My brain always wants to think funny LATEST STORIEScenter_img “He was part of healing Boston after the bombings,” Flanagan said. “His performance meant the world to me and to the people who helped raise me. So today, I thought, just be like Meb.”Keflezighi was brought to tears this week upon hearing he’d receive the Abebe Bikila Award. It’s for outstanding contribution to the sport of distance running, handed out by the New York Road Runners.“Growing up without television, electricity or running water, probably the first athlete I ever heard about was Abebe Bikila,” he said. “The second athlete was Pele.”Keflezighi and his family immigrated to Italy and then San Diego to escape Eritrea’s war of independence from Ethiopia. Bikila, a two-time Olympic marathon champion from Ethiopia, set a world record while running barefoot in the 1960 Rome Games.“Sports were something, when I didn’t speak a word of English, it got me the thumbs-up,” said Keflezighi about his teen track performances in the U.S. “It’s self-esteem, that you belong to something.”A four-time NCAA title winner primarily in the 5K and 10K at UCLA, he vowed his first NYC marathon would be his last after hitting the wall in mile 21. But Keflezighi’s long-distance career took off when he won silver at the 2004 Athens Olympics, the first U.S. man since Frank Shorter in 1976 to win a medal in the marathon.He broke his hip at the U.S. Olympic trials in 2007 in Central Park, a race where friend and training partner Ryan Shay collapsed and died of a heart attack. He followed that sadness with a 2009 NYC Marathon win.Keflezighi is one of 10 children who maximized their potential in the United States, becoming doctors, lawyers, nurses and engineers.“My dad first taught me that hard work beats everything and never judge a book by its cover,” he said. “You do the best you can do, get the best out of yourself. Sports, Nelson Mandela says, unites us more than anything else.”Joan Benoit Samuelson, who won gold at the first women’s marathon at the 1984 Los Angeles Olympics, says Keflezighi has left a “unique legacy.” Kiss-and-tell matinee idol’s conquests: True stories or tall tales? Jake says relationship with Shaina ‘goes beyond physical attraction’ Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scene Steam emission over Taal’s main crater ‘steady’ for past 24 hours Coco’s house rules on ‘Probinsyano’ set Race officials, his wife and young daughters lifted him off the pavement after a 26.2-mile effort that lasted 2 hours, 15 minutes, 29 seconds.“It was a beautiful victory lap to be up in the front,” said Keflezighi, whose goal was to finish in the top 10. “Emotions get to you.”FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSFederer blasts lack of communication on Australian Open smogMore than 70 friends and family were on hand to witness the final bow of the only runner to win an Olympic medal and the New York and Boston marathons. Keflezighi became a U.S. citizen in 1998, a decade after his family left war-torn Eritrea.In 2009, he became the first American man since Alberto Salazar in 1982 to win the NYC marathon. On Sunday, his friend Shalane Flanagan of Boston became the first American woman in 40 years to win the event. Don’t miss out on the latest news and information. View commentslast_img read more

International Unions support fight to save sugar workers’ jobs

first_imgAs Government moves forward with plans to scale down the sugar industry, a few international bodies have expressed solidarity with the Guyana Agricultural and General Workers Union’s fight to safeguard the employment of thousands of workers.The Agro-Industrial Workers’ Union (AIWU) of the Russian Federation stated its commitment to the local union’s advocacy, and urged GAWU to inform the relevant authorities that AIWU and its one million members support the fight to save the local sugar industry.Executive Member of the People’s Progressive Party/Civic (PPP/C) and former Government Minister, Anil Nandlall, addressing a small gathering to observe Enmore Martyrs Day“We stand with you in your advancement of a plan for the sugar sector which focuses on the needs of workers and their communities and wish you every success in preventing privatisation and job destruction. Please convey our union’s solidarity to your members and please feel free to notify the authorities in Guyana that you have our support in your struggle,” AIWU stressed.Similar solidarity sentiments were shared by the Amalgamated Trade Union of Swaziland (ATUSWA).stalwart Harry Persaud Nokta and other party members make their way to lay wreaths in homage to the five Enmore Martyrs during the Annual wreath laying ceremony at Le Repentir Cemetery“We stand with you in your advancement of a plan for the sugar sector which focuses on the needs of workers and their communities and wish you every success in preventing privatisation and job destruction,” ATUSWA Secretary General Wander Mkhonza noted.Meanwhile, The Hindustan Unilever Ltd (PPF) is also in support of GAWU’s measures to protect jobs in the local sugar industry.“We stand with you in your advancement of a plan for the sugar sector which focuses on the needs of workers and their communities and wish you every success in preventing privatisation and job destruction,” Kripanath Sonowal, President of the Hindustan Unilever Ltd (PPF) Worker’s Union Doom Dooma in India, stated.On Wednesday, Opposition Leader Bharrat Jagdeo in a meeting at Enmore, East Coast Demerara, called on all Guyanese and people living in the sugar belt to continue to fight to save the industry. The Enmore Sugar Estate is slated for closure by yearend and sellers in the area have stated that they are already feeling the impact of the imminent closure.The Opposition Leader highlighted to the gathering the dangers that lay ahead for the 10,000 workers who stood to lose their jobs and their families.Jagdeo added that the closure of the industry has the potential to affect close to 50,000 people, and, in his view, it was a “political, discriminatory decision on the part of the Government”.Jagdeo reiterated that the sugar industry could be sustained and become viable if more attention was placed on fixing the current problems. He also recalled that between 1976 and 1996, sugar made a huge contribution to the Treasury in the form of the sugar levy.Finance Minister Winston Jordan in his presentation of the 2017 Budget had indicated the status quo of the sugar industry could neither be sustained nor maintained.Jordan had explained that based on the structure at that time, the industry would require Government’s support to the tune of $18.6 billion and $21.4 billion for the years 2017 and 2018 respectively. The Minister had explained that based on the Commission of Inquiry (CoI) into the sugar industry, it was concluded that any money injected into the industry in its current state was money wasted.last_img read more

Odds are it will be star-filled day

first_imgThe lineup for the Toyota Pro/Celebrity race during the Grand Prix of Long Beach is set, with NASCAR Craftsman Truck Series drivers Mike Skinner and Todd Bodine among the pros and George Lucas and Martina Navratilova among the celebrities. Hollywoodwagers.com posted odds of winning the race – soley for entertainment purposes – for the celebrities entered. It would have been more interesting to list the odds of how many people would recognize the celebrities in a grocery store. Joshua Morrow, an Emmy Award- nominated actor who plays Nicholas Newman on “The Young and the Restless,” is 8-1. It’s 10-1 he’ll crash in the race. It’s 15-1 he’ll suffer a life-threatening injury. It’s 25-1 he’ll have amnesia as a result of the accident. And it’s 250-1 his evil twin, Joshua Tomorrow, will enter the race next year with a diabolical scheme to take out the other drivers. Kelly Hu, an actress and former fashion model, credited as the first Asian American to win a Miss Teen USA title and who is on the TV show “In Case of Emergency,” is 10-1. Her odds drop to 5-1 if she has to race while talking on her cell phone. There’s probably a little Toyota homecooking going into these odds. Fellow model and TV personality Kendra Wilkinson from the E! reality TV series “The Girls Next Door,” is listed at 25-1, the biggest longshot in the race. What’s Hollywoodwagers.com got against Playboy models? Are they that much better racers than Miss Teen USA winners? Robin Quivers, radio personality and Howard Stern’s partner on his satellite radio show, is 12-1. It goes up to 50-1if she has to listen to Stern’s radio show while racing. Lucas is 15-1. That’s if he doesn’t use the force. His odds of winning are even if does. Even if he loses, he still has a chance to win by using the Jedi mind trick on the race officials. Chris Klein, better known as the ex-boyfrend of Katie Holmes, is a middle of the road pick at 14-1. It’s 1,000-1 Holmes’ current main squeeze, Tom Cruise, will show up in his “Days of Thunder” getup. The drivers will be racing Toyota Scion tCs in the Pro/Celebrity race April 14. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!center_img Navratilova is the favorite among the celebrities. She is listed at 6-1. Still not sure how tennis translates into auto racing, but apparently Hollywoodwagers.com thinks stick shifts and tennis rackets are in the same class. Dave Mirra, a professional BMX rider and former host of MTV’s “Real World/Road Rules Challenge,” is 7-1 to win the race. It’s 70-1 that MTV will play a music video before the Long Beach Grand Prix begins. last_img read more

Roma edge ahead of Liverpool in race to sign ex-Premier League star

first_imgRoma have edged ahead of Liverpool in the race to sign wantaway Barcelona defender Thomas Vermaelen.The former Arsenal skipper has struggled to make an impact at Barca since he left the Emirates two summers ago and has been told he is free to leave.Liverpool were favourites to land the Belgium international but have failed to stump up a suitable bid to prise him away from the Nou Camp.And now, according to Gazetta dello Sport, Liverpool’s dithering has allowed Roma to leapfrog them in the race to sign Vermaelen.The Italian club are on the hunt for a central defender this summer and are set to make contact with Barca this week to see how much it will take to agree a transfer. Barcelona defender Thomas Vermaelen 1last_img read more

Thierry Henry accepts new role days after Bordeaux move falls through

first_imgThierry Henry has been appointed the Belgium assistant manager’s job just days after rejecting the chance to become Bordeaux boss.The Arsenal and France legend was in negotiations with the Ligue 1 club for weeks. highlights Every current Premier League club’s best kit from the past decade However, these talks broke down and Belgium manager Roberto Martinez confirmed on Friday that he was moving Henry up from being his second assistant coach to No.2 on his backroom team.Henry, 41, replaces Graeme Jones, who made a return to club football earlier this summer to work as Darren Moore’s assistant at West Brom.The former striker began coaching at Arsenal’s academy but was offered a job in the Belgian set-up in 2016.After being a big part of the Red Devils’ World Cup campaign this summer where they reached the semi-finals – a best ever World Cup performance from the Belgians –  it was thought Henry would move on to become a No.1 in his own right. Latest Football News 2 Bordeaux were keen to hire Henry to replace Gus Poyet – with old Arsenal team-mate Gilles Grimandi tipped to be his deputy.However, a lack of transfer funds prevented the move from happening and persuaded Henry to extend his time working under Martinez.Henry’s first game in his new role sees Belgium play Scotland in an international friendly at Hampden Park next Friday.This will also mark a return to Hampden for former Scotland winger Shaun Maloney – who is a new recruit onto Martinez’s coaching staff. Forbes list reveals how much Mayweather, Ronaldo and Messi earned this decade MONEY Best clips, calls and talkSPORT moments of 2019, feat Hearn, McCoist and more possible standings England’s most successful clubs of the past decade, according to trophies won gameday center_img Tottenham v Brighton LIVE: talkSPORT commentary and team news for Boxing Day opener smart causal RANKED Henry turned down the chance to become the manager of Bordeaux 2 silverware Every Championship club’s best signing of the decade, including Taarabt and Dack How the Premier League table could change after the Boxing Day fixtures Top nine Premier League free transfers of the decade Henry and Belgium finished third in Russia impact last_img read more

FOUL-MOUTHED FINN HARPS FANS BRANDED ‘A DISGRACE’

first_imgA LONGFORD Town fan who has travelled to matches at Finn Park for more than 15 years says he will never return – claiming a section of Finn Harps fans last week were ‘an absolute disgrace’.Longford man Brendan Connolly also insisted that the Harps fans should have been ejected from the stadium because of their foul-mouthed behaviour.He said his experience at the Ballybofey venue last Friday with his wife and young family a huge shock for them. “Having visited Finn Park on numerous occasions over the last 15 years I have had nothing but pleasant experiences of Finn Harps supporters and the Donegal public in general,” said the soccer fan.“However last Friday night the abusive and foul language directed at Longford Town and its supporters was an absolute disgrace.“This was continued throughout the match by a small section of thugs masquerading as Finn Harps supporters.”Mr Connolly said he was even more shocked that these fans were not removed from the ground. He went on: “I am not surprised in the slightest at the poor level of support Finn Harps currently have and which sees the club almost on the point of extinction, when one experiences the atmosphere that we as visiting supporters were subjected to on Friday night.“Sadly, despite the fact that I enjoyed all my previous visits to Finn Park I will not be returning with my family as a result of the experience.”* What do you think? Send your comments to info@donegaldaily.comFOUL-MOUTHED FINN HARPS FANS BRANDED ‘A DISGRACE’ was last modified: April 28th, 2011 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) Tags:abusive fanschildrenFinn Harps FCfoul languageLongford Townlast_img read more

New England foliage on summer schedule

first_imgBy Beverly Wang, Associated Press CANTERBURY, N.H. – The calendar says October, but the weather is screaming summer to millions of northern New England trees that have yet to expose their vivid autumnal colors. Visitors are pouring into the region for the traditional Columbus Day weekend peak of the fall foliage season, but instead of pinks, purples, reds and golds, there is a lot of green across the landscape. Because of warm, sunny weather across New England lately, it is taking a week to a month longer than usual for the leaves to change color in much of the region. Areas along the Canadian border, however, are at or near peak. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREThe top 10 theme park moments of 2019 “It has been warmer than average over the last few weeks and that has pushed the change in colors back a bit,” said Brendon Hoch, a Plymouth State University meteorologist. Leaves change color mainly in response to how much sunlight trees get, so as long as the sun keeps shining, trees will continue producing chlorophyll, the chemical that keeps leaves green. Elsewhere across the Northeast, unusually dry weather in parts of New York state is producing muted colors, or causing leaves to dry up and drop without changing. Neither change has kept visitors from flooding into the region for one of its biggest tourism draws. “I’m still seeing the tour buses with New York license plates coming through here,” said Phil West, who was cleaning the dirt from a pile of just-picked pumpkins from his farm in Hadley, Mass., on Thursday. Leaf-peepers were not complaining about being out in shirt sleeves and sunglasses. “I mean, England autumns are terrible. They’re rubbish,” said Andrew Farmer, 25, of Cambridge, England, who wore a T-shirt as he snapped photos this week in Canterbury, N.H., where temperatures neared 80 degrees and only the tips of the sugar maples were showing red. Bill Sakamoto of Orange, Calif., also was checking out the leaves in Canterbury. “We came here for the color, but it’s hard to time it,” he said. “It’s like going fishing – sometimes it’s not in season or the fish doesn’t come in.” Largely because people book their foliage trips months in advance, tourism officials from Maine to Massachusetts downplay “doom and gloom” scenarios for the foliage season. More than 550,000 tourists were expected to visit New Hampshire this weekend. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

Five out of five for golden Natalie

first_img15 September 2008South Africa’s Paralympic team, after the weekend’s competition in Beijing, has won 24 medals. Incredibly, 17 of those medals are gold and the “golden girl” is Natalie du Toit, who completed a clean sweep of victories in the five events she entered.With an incredible 71 percent of South Africa’s medals being gold, the team sits proudly in seventh place on the medal table.On Sunday, Du Toit contested her final race, the 50 metres freestyle. If she was going to be beaten in Beijing it would be in the sprint because of her poor start due to the fact that she has only one leg to push off with.Paralympic recordIt was close, but Du Toit once again came out on top, winning the race in a Paralympic record 29.20 seconds to capture gold by 0.13 seconds over Russia’s Irina Gradzhdanova.Afterwards, South Africa’s flag bearer admitted to being relieved to have achieved her goal of five golds. Speaking about her performance in the 50m freestyle, Du Toit said she was frustrated by her start again, but satisfied with her finish.A day earlier, on Saturday, there was another gold medal for South Africa in the swimming pool and it came after an especially exciting final of the women’s S13 100 metres backstroke.A tie for goldSA’s Shireen Sapiro led through 50 metres, just 0.32 seconds ahead of New Zealand’s Sophie Pascoe. The Kiwi then made up the gap over the final length of the pool, but couldn’t pass her South African rival as both swimmers touched in a world record time of one minute, 10.57 seconds to both claim gold.There was also a bronze on Friday for veteran Tadgh Slattery in the men’s SB5 100 metres breaststroke.Oscar Pistorius, after winning the T44 100 metres by just three-hundredths of a second over Jerome Singleton, was a convincing victor in the 200 metres on Saturday. He finished almost a second ahead of second placed Jim Bob Bizzell in a Paralympic record 21.67 seconds. Another South African, Arnu Fourie, was sixth in 23.87 seconds.One of the best“The Blade Runner” was thrilled with his victory in front of a massive crowd and described it as one of his best ever.Having won two gold medals already, Pistorius is looking forward to his best event, the 400 metres, in which he hopes to lower his world record.There was more success for South Africa in track and field when Fanie van der Merwe set a Paralympic record in the heats of the T37 100 metres on Saturday, clocking 11.97 seconds. He then made up a big early deficit to capture gold in the final as he lowered the Paralympic record to 11.83 seconds.Double gold medallistHilton Langenhoven struck gold twice; on Friday he scored a world record 3 401 points to win the men’s P12 pentathlon and he followed that up by capturing gold in the long jump with a Paralympic record leap of 7.31 metres.Langenhoven’s winning jump gave him victory by a comfortable 25 centimetres over Osamah Alshanqiti of Saudi Arabia and and former Paralympic record holder, Oleg Panyutin of Azerbaijan, both of whom recorded 7.06 metre jumps.Ilse Hayes joined Langenhoven and Fanie van der Merwe as winners on Friday when she recorded a distance of 5.68 metres to win the F13 long jump by just five centimetres over Anthi Karagianni of Greece. Despite the narrowness of the victory, Hayes twice bettered Karagianni’s best distance.Teboho Mokgalagadi won bronze in the men’s T35 100 metres.Gold at lastErnst van Dyk, competing in his fifth Paralympic Games, finally captured an elusive gold when he won the road race for hand cycling class C on Sunday.He was made to work hard for victory by the American duo of Alejandro Albor and Oz Sanchez, who worked together to try to beat Van Dyk. The South African, though, was up to the challenge and finished the 48.4-kilometre distance in one hour, 21 minutes and 40 seconds, to edge out the Americans by one second.Afterwards, Van Dyk said: “I’ve been waiting for this for 16 years, and finally I got a gold medal.”There was more success for South Africa in road cycling on Saturday when, in the mixed individual road race CP 1/CP 2, Riaan Nel captured the silver medal.Would you like to use this article in your publicationor on your website?See: Using SAinfo materiallast_img read more

South Africa eyes Islamic bond issue

first_imgInterested service providers are expected to submit proposals by 21 December 2011, with the shortlisted bidders set to be informed by 20 January 2012. The successful bidder will also have to market the bond to investors, indicate underwriting and market-making appetite, facilitate the book building process and provide any additional services required to successfully launch the bond. “Sukuk can be structured alongside different techniques. While a conventional bond is a promise to repay a loan, Sukuk constitutes partial ownership in a debt (Sukuk Murabaha), asset (Sukuk Al Ijara), project (Sukuk Al Istisna), business (Sukuk Al Musharaka), or investment (Sukuk Al Istithmar),” the website states. 7 December 2011 Apart from providing advice, the successful bidder will be required to structure, manage and coordinate the issuance of the Sukuk. It will also be responsible for obtaining relevant regulatory approvals, as well as securing a listing for the bond both locally and internationally. According to online encyclopaedia Wikipedia, fixed income, interest-bearing bonds are not permissible in Islam, so Sukuk securities are structured to comply with the Islamic law and its investment principles, which prohibits the charging or paying of interest. According to the Treasury, the invitation is in line with its intention to diversify its funding and investor base. Complying with Islamic law “There is a great interest in the Sukuk market and this is the first step towards meeting the growing appetite for government backed Shariah compliant investments,” Treasury Director-General Lungisa Fuzile said in a statement this week. South Africa’s National Treasury has invited banking institutions to submit proposals to assist in providing advisory services and in the structuring and issuance of a government Islamic bond, or Sukuk, in both local and international markets. SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more