Norway says it is committed to helping Sri Lanka put in place data based management of ocean resources, which will enable Sri Lanka to better monitor its fish stocks.The Ambassador of Norway to Sri Lanka and Maldives, Thorbjørn Gaustadsæther noted the importance of sharing research findings with other Sri Lankan stakeholders both in the public and in the private sector to make informed decisions related to oceans and fisheries. Norwegian Research Vessel Dr. Fridtjof Nansen successfully completed an ecosystem survey in the coastal waters of Sri Lanka from June 23 to July 16, 2018. The survey was part of the EAF-Nansen Programme implemented by the Food and Agriculture Organization of the United Nations (FAO) in close collaboration with the Institute of Marine Research, Norway and funded by the Norwegian Agency for Development Cooperation (Norad). He also reiterated the importance of Sustainable Development Goal 14 (SDG 14) on conserving and sustainably using the oceans, seas and marine resources to achieve Sri Lanka’s economic growth. He expressed these views at an event held by the National Aquatic Resources Research and Development Agency (NARA) and Institute of Marine Research, Norway (IMR) to launch the main research findings of the survey carried out by the Norwegian Research Vessel Dr. Fridtjof Nansen in Sri Lanka in 2018. The survey was a result of Sri Lanka – Norway bilateral agreement to provide technical assistance to improve management of the fisheries sector in Sri Lanka and it provided training for Sri Lankan scientists and post survey data analyses.The aim of the survey last year was to carry out a marine resources survey around Sri Lanka with the expectation that the survey should provide Sri Lanka with up-to-date data, which will be useful for future management of the country’s fisheries resources.Ms Nina Brandstrup, FAO Representative in Sri Lanka said, “the successful completion of this programme in Sri Lanka is a testament to the longstanding relations between FAO, the Government of Norway and Sri Lanka. The findings of the survey will be an important baseline for FAO in supporting Sri Lanka achieve sustainable management of fisheries resources amidst mounting pressures such as climate change and pollution.” The visit of the RV Dr. Fridtjof Nansen was also an opportunity to highlight the longstanding development cooperation between Sri Lanka and Norway, especially in the field of fisheries, which started in 1971. The Norwegian fisheries cooperation with Sri Lanka includes fisheries management, research and education, and private sector development. From 2013 to 2017, NOK 11.1 million (approx. 1.3 million USD) has been disbursed for these activities. P. Harrison, Minister of Agriculture, Rural Economy Affairs, Livestock Development, Irrigation and Fisheries and Aquatic Resources Development and Dilip Wedaarachchi, State Minister, Ministry of Fisheries and Aquatic Resources Development also highlighted the importance of the resource survey and its findings to take necessary management decisions.K. D. S. Ruwanchandra, Secretary of the Ministry of Agriculture, Rural Economy Affairs, Livestock Development, Irrigation and Fisheries and Aquatic Resources Development, representatives of IMR, NARA, National Aquaculture Development Authority of Sri Lanka and a number of other government officials were present at the event. (Colombo Gazette)
Wells Fargo CEO preparing to apologize to Senate committee by Ken Sweet, The Associated Press Posted Sep 19, 2016 5:26 pm MDT Last Updated Sep 19, 2016 at 6:29 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email NEW YORK, N.Y. – Wells Fargo CEO John Stumpf plans to apologize to Congress and the American public on Tuesday after allegations that bank employees opened millions of unauthorized accounts to meet aggressive sales targets.The mea culpa comes in prepared testimony for Stumpf’s appearance before the Senate Banking Committee. The Associated Press obtained a copy of the prepared remarks, in which Stumpf says he is “deeply sorry” the bank failed to fulfil its responsibility to customers. He also apologized for “violating the trust” of customers and not doing more sooner to address the causes of “this unacceptable activity.”Stumpf had been facing criticism after an interview last week in which he implied that retail banking employees were to blame, and the prepared remarks seem to indicate a shift in tone.The CEO, who had been hailed for expertly navigating Wells Fargo through the financial crisis and keeping Wells out of toxic mortgages, is facing a crisis at the bank that may exceed what it faced then. Some activists have called for Stumpf to resign. One banking industry analyst said Stumpf’s pay should be cut, and for the executives involved with the consumer bank to be required to pay back part of their pay or bonuses.“I accept full responsibility for all unethical sales practices in our retail banking business, and I am fully committed to doing everything possible to fix this issue, strengthen our culture, and take the necessary actions to restore our customers’ trust,” according to the prepared testimony.California and U.S. regulators fined San Francisco-based Wells Fargo & Co. a combined $185 million last week for allegedly opening millions of bank accounts without customer authorization, moving money into those accounts, and even creating fake email address to sign these customers up for online banking. The consumer banking giant has said it plans to eliminate the sales targets by Jan. 1.In his prepared testimony, Stumpf lays out various ways he says Wells Fargo has improved its corporate culture and can avoid similar problems. This includes new compliance training programs, contacting all customers with inactive accounts to see if they really did open the accounts, and requiring consent from a customer before his or her credit is looked at for a new credit card.Stumpf is expected to appear twice in front of Congress. The House Financial Services Committee has announced that it plans to conduct an investigation into Wells Fargo’s sales culture, and to have Stumpf testify later this month._____Ken Sweet covers banking and consumer financial issues with The Associated Press. Follow him on Twitter at @kensweet.