Latest news with #Authority
Libya Observer
2 hours ago
- General
- Libya Observer
New archaeological discovery northeast of Benghazi uncovers Roman cemetery and settlement
The Libyan Antiquities Authority has announced the discovery of a significant archaeological site northeast of Benghazi, known as Haqfat Lusaeq. The site includes ancient inscriptions, a cave cemetery, and the remains of a Roman settlement. A joint team from the Benghazi and Tokra antiquities offices conducted a field visit to document and record the location. During their exploration, they found inscriptions and carvings etched into the cave walls, indicating that the cave was used as a burial site in various historical periods. Nearby, they identified remnants of a Roman settlement, including the foundations and walls of several ancient buildings. An old olive press was also found at the site, supporting evidence of agricultural and commercial activity during the Roman era. Field investigations revealed the name of the Roman settlement to be Grosin, named after a nearby valley. According to the Authority, this discovery adds valuable insight to the mapping of Roman urban distribution in eastern Libya. Tags: Libyan Antiquities Authority Archeological Sites
Time of India
8 hours ago
- Business
- Time of India
Review Gardenia debt plan, Noida Authority urges UP govt
Noida: Noida Authority has decided to write to the state govt to reconsider its order allowing Gardenia Aims Developers to clear a portion of its dues through proceeds generated from the auction of 122 sealed flats in its Sector 46 project. The Authority said that if allowed, the move would contradict a cabinet-approved policy for stalled projects, which requires defaulting builders to deposit 25% of dues before accessing relief measures. At a meeting on June 14, the Authority board, after examining various aspects of the govt's May 29 order, said that it conflicted with the provisions of the rehabilitation plan for stalled projects decided in Dec 2023. The govt order, under Section 41(3) of the Uttar Pradesh Urban Planning and Development Act, allowed the builder to use proceeds from the auction of 122 sealed flats in Gardenia Glory in Sector 46 to fulfil this 25% requirement. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida In 2009, Gardenia Aims was allotted 51,719sqm. The builder deposited around Rs 60 crore against a premium of Rs 151 crore. However, the project faced delays, with only 20 of 21 approved towers completed. Of the 1,586 approved units, just 551 received occupancy certificates by Oct 2019. By Dec 2023, total dues stood at Rs 692 crore, with a Rs 130 crore Covid-related rebate. On March 13, 2024, the Authority demanded Rs 140.5 crore (25% of recalculated dues), but no payment was made. On June 5, 2024, the Authority ordered the auction of 122 sealed flats and cancelled the lease of a separate 150-acre commercial plot. The builder secured a stay from a commercial court in Noida on June 19, 2024, prompting the Authority to approach the Allahabad HC. The case remains sub judice. Separately, the builder filed a revision petition. On May 29, the principal secretary of the industrial development department ruled that the Authority could proceed with the auction. The plot would then be restored without fees, and zero-period benefits would be considered per the Dec 2023 policy. Any shortfall would be borne by the builder. Importantly, this order also directed the Authority to decide on the builder's proposal within one month. In response, the builder submitted a written proposal and appeared for a hearing before the addition al CEO. They also urged the Authority that it withdrew its earlier case from the commercial court. The Authority then wrote to the govt, stating that any action on the builder's proposal would require guidance from its board, which sought reconsideration of the govt order.
Time of India
21 hours ago
- Automotive
- Time of India
100 acres for EV manufacturing cluster near Noida International Airport
Yamuna Expressway Industrial Development Authority (YEIDA) has given in-principle approval to allot 100 acres of land in Sector 8 to the Electric Vehicles Manufacturers Welfare Trust for setting up a dedicated cluster for EV autorickshaw and two-wheeler production, along with component manufacturing. YEIDA CEO Arun Vir Singh said that land acquisition work is currently in progress. The Letter of Intent (LoI) for the allotment, which was issued on Thursday, is subject to the approval of the Invest UP Empowered Committee, state policy guidelines, and other applicable regulatory norms. The CEO added that the Trust has informed the Authority that over 150 units associated with it intend to set up manufacturing facilities . This initiative is expected to provide a major boost to the region's manufacturing sector. The Authority has already allotted land for various parks and clusters in the area, including the Medical Device Park, Toy Park, Apparel Park, Data Centre, IT Park, and the recently approved Electronics Manufacturing Cluster 2.0. YEIDA officials also said that a start-up manufacturing EV batteries for two-wheelers, including Royal Enfield, will be allotted 10,000 sqm in the 206-acre Electronics Manufacturing Cluster-2 (EMC-2) in Sector 10. Havells has already been allotted 50 acres here as the anchor company, and three other major firms have also secured plots. Neenjas Electric has been issued a Letter of Intent for manufacturing electric vehicle chargers, LED lighting panels, and related solar-based technologies in Sector 10. Founded in 2021, the start-up is based in Noida and operates manufacturing units in Greater Noida. Last week, Dixon Technologies secured 22.5 acres in EMC 2.0, becoming the third company to join the hub. Officials said Dixon received the LOI to set up a manufacturing unit for mobile phones, consumer electronics, telecom equipment, lighting products, and white goods. LOIs were also issued to two other companies – Ascent-K Circuit and Aurionpro ToshiAutomatic Systems – for setting up units under the central govt's scheme. The 206-acre cluster has seen strong interest from top industrial players, officials added. YEIDA officials confirmed that the land acquisition process in Sector 10 is also ongoing.
Time of India
a day ago
- Automotive
- Time of India
100 acres for EV manufacturing cluster near Noida International Airport
Noida: Yamuna Expressway Industrial Development Authority (YEIDA) has given in-principle approval to allot 100 acres of land in Sector 8 to the Electric Vehicles Manufacturers Welfare Trust for setting up a dedicated cluster for EV autorickshaw and two-wheeler production, along with component manufacturing. YEIDA CEO Arun Vir Singh said that land acquisition work is currently in progress. The Letter of Intent (LoI) for the allotment, which was issued on Thursday, is subject to the approval of the Invest UP Empowered Committee, state policy guidelines, and other applicable regulatory norms. The CEO added that the Trust has informed the Authority that over 150 units associated with it intend to set up manufacturing facilities. This initiative is expected to provide a major boost to the region's manufacturing sector. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida The Authority has already allotted land for various parks and clusters in the area, including the Medical Device Park, Toy Park, Apparel Park, Data Centre, IT Park, and the recently approved Electronics Manufacturing Cluster 2.0. YEIDA officials also said that a start-up manufacturing EV batteries for two-wheelers, including Royal Enfield, will be allotted 10,000 sqm in the 206-acre Electronics Manufacturing Cluster-2 (EMC-2) in Sector 10. Havells has already been allotted 50 acres here as the anchor company, and three other major firms have also secured plots. Neenjas Electric has been issued a Letter of Intent for manufacturing electric vehicle chargers, LED lighting panels, and related solar-based technologies in Sector 10. Founded in 2021, the start-up is based in Noida and operates manufacturing units in Greater Noida. Last week, Dixon Technologies secured 22.5 acres in EMC 2.0, becoming the third company to join the hub. Officials said Dixon received the LOI to set up a manufacturing unit for mobile phones, consumer electronics, telecom equipment, lighting products, and white goods. LOIs were also issued to two other companies – Ascent-K Circuit and Aurionpro ToshiAutomatic Systems – for setting up units under the central govt's scheme. The 206-acre cluster has seen strong interest from top industrial players, officials added. YEIDA officials confirmed that the land acquisition process in Sector 10 is also ongoing.
Business Wire
2 days ago
- Business
- Business Wire
KBRA Assigns AA Rating to Alaska Municipal Bond Bank Authority General Obligation and Refunding Bonds, 2025 Series Three; Affirms Related Ratings
NEW YORK--(BUSINESS WIRE)--KBRA assigns a long-term rating of AA to the Alaska Municipal Bond Bank Authority General Obligation and Refunding Bonds, 2025 Series Three. KBRA also affirms the long-term rating of AA for the Authority's outstanding General Obligation Bonds. KBRA additionally affirms the long-term rating of AA+ for the State of Alaska's General Obligation Bonds as well as the long-term rating of AA for the State's Appropriation Bonds. The rating Outlook for each obligation is Stable. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives Essentiality of underlying loans for local government financing needs and mechanisms for State support of Authority Bonds. History of full and timely payment of Authority Bonds without reserve draws or State support. Precautionary appropriation by the State each year since 2009 to replenish Authority DSRFs in the event of draws. Credit Challenges State support payment backstop mechanism is a moral obligation pledge, though the standing appropriation for reserve replenishment and other features mitigate this risk. Rating Sensitivities For Upgrade Upgrade of the State GO rating. For Downgrade Downgrade of the State GO rating. Failure of the Legislature to proactively provide the Authority its annual standing appropriation for reserve replenishment. To access ratings and relevant documents, click here. Methodologies Public Finance: U.S. State Annual Appropriation Obligation Rating Methodology Public Finance: U.S. State General Obligation Rating Methodology ESG Global Rating Methodology Disclosures A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1010115
