200 LIME WORKERS ON WAY OUT

SAT, AUGUST 31, 2013 – 12:07 AM

LIME has confirmed that 200 workers will go home next month as a result of a deal with global provider Ericsson that will see the Swedish company taking over some of the telecommunications company’s technical services.

The displaced employees will, however, get the opportunity to immediately apply for positions with Ericsson, the company said yesterday.

The news came in a Press release announcing that LIME had entered into an exclusive managed services agreement with Ericsson in an effort to restructure its operations. Under the deal, which takes effect on October 1, Ericsson will manage the external component of LIME’s fixed, mobile, Internet and data networks.

“This agreement will see 200 members of LIME’s Service Support and Delivery and associated customer support teams separating from the company at the end of September. As part of the agreement and to maintain employment levels, all of the impacted LIME employees will have the opportunity to reapply for roles with Ericsson,” the statement said.

For more on this story go to:

http://www.nationnews.com/index.php/articles/view/200-lime-workers-on-way-out/

CAYMAN REGISTERED CHINA-BASED PACKAGING MATERIAL SUPPLIER SEEKS LISTING ON TWSE

By Frances Huang From Focus Taiwan

CNA) Green Seal Holding Co. has filed an application with the Taiwan Stock Exchange (TWSE) for a primary listing on the main board, the exchange said Saturday.

A prospectus on the TWSE website shows that Green Seal is planning to issue 15 million new shares for the listing and expects to raise about NT$1.68 billion (US$56 million) from the sale of shares tentatively priced at NT$112.

The company, incorporated in the Cayman Islands and capitalized at NT$1.2 billion, said it will use the proceeds from the fund raising as working capital for future expansion and to pay down its debt.

The fund raising plan is scheduled to be completed in the first quarter of 2014, Green Seal said, adding after reducing its debt, its interest payments will drop by NT$107.7 million a year.

Green Seal said its debt-to-asset ratio is expected to fall to 18.68 percent in 2014 from an estimated 30.65 percent in 2013.

The company said the major underwriter of its share sale is KGI Securities.

Green Seal produces biaxial oriented polyamide film (BOPA film), which is largely used as packaging material to wrap frozen food, vegetables and other agricultural and fish products.

BOPA film is also used as packaging materials for medical, chemical and electronics products, the company said.

Currently, Green Seal operates a broad production base in Xiamen in Fujian province and is one of the largest BOPA film producers in China. All of its products are sold in the China market.

In 2012, Green Seal posted NT$953.59 million in net profit, or NT$9.73 in earnings per share, compared with NT$551.84 million in net profit or NT$5.63 in EPS in 2011.

In the first six months of this year, Green Seal’s net profit stood at NT$611.61 million or NT$4.90 per share.

For more on this story go to:

http://focustaiwan.tw/news/aeco/201308310021.aspx

JAMAICA GOVERNMENT URGED TO LEGALISE MARIJUANA TO IMPROVE ECONOMY

From Caribbean360

KINGSTON, Jamaica – The Portia Simpson Miller led administration is being urged to legalise and regulate marijuana as the nation’s economy could benefit from such a move.

This is according to the Executive Director of the US base Drug Policy Alliance, Ethan Nadelmann who believes that although a study has not been carried out surrounding the benefits of marijuana legalisation, anecdotal evidence suggests it could be the next big crop for the island.

“If you legally regulate marijuana, first you stop wasting tens of millions of dollars per year on enforcing a policy, secondly you reduce the opportunities for police corruption , you begin to raise tax revenue from the domestic sales of cannabis and   you can begin to recruit tourism on that basis.”

He pointed out that the United States has no credibility in lecturing any country on changing its marijuana legislations because 20 states in the U.S. has legally regulated marijuana and are reaping the benefits from it.

Meanwhile, well known Jamaican scientist, Dr. Henry Lowe believes the Portia Simpson Miller administration should take a serious look at developing the medical marijuana industry .

Lowe told an editor’s forum at the Jamaica Gleaner on Wednesday that the Government is missing out on billions of dollars, which could be earned from the wide range of cosmeceutical, neutraceutical and pharmaceutical products being developed across the world.

“I think Jamaica has got a clear leadership role in medical ganja, and I am calling on the Government of Jamaica – including the parliamentary Opposition – to take a look at this, so we can move forward and do what we need to do … because it has real potential.”

Lowe argued that while the cultivation of marijuana is illegal and most of the debate has been centred on the smoking of marijuana, emphasis must now shift to the medical and extension, economic potential for Jamaica. (CMC)

For more on this story go to: http://www.caribbean360.com/index.php/news/jamaica_news/949576.html?utm_source=Caribbean360+Newsletters&utm_campaign=c311cf4958-Vol_8_Issue_155_News8_30_2013&utm_medium=email&utm_term=0_350247989a-c311cf4958-39393477#ixzz2dV46QwFn

E-WASTE SYSTEMS LAUNCHES INITIATIVE

From American Recycler

E-Waste Systems, Inc. (EWSI) launched its first project for the Caribbean to ensure full recycling and zero landfill of electronics waste.

“This Caribbean launch venture is designed to remove electronics from landfills across the islands for processing in Ohio. The first containers are to begin flowing in the 3rd Quarter of 2013. The local municipalities will supply containers at the site. This venture will provide local governments with revenue sharing,” said Martin Nielson, founder and CEO of E-Waste Systems, Inc.

EWSI is launching this project beginning in Jamaica. EWSI will expand this opportunity to all major islands such as Puerto Rico, Virgin Islands, St. Lucia, Bermuda, Haiti and the Bahamas. Nielson added, “We have signed our first Memorandum of Understanding (MOU) and we are also inviting other local partners to join our enterprise to provide for jobs while we do the right thing for the environment.”

The current predominant means of disposal is through open dumps, bringing health and environmental problems.

Part of the problem is discarded electronics, which has become one of the fastest growing segments of the municipal waste stream in more recent days.

Martin Nielson, founder and CEO of EWSI, stated, “It would be of great appeal for local Governments to approach the e-waste disposal through the high quality standards for our company whereby we can achieve a zero landfill accompanied by proper economic recovery.”

For more on this story go to:

http://www.americanrecycler.com/0913/2288ewaste.shtml