S&P: Uljanik Could Cost Croatia Up to 1% of GDP

first_imgThe financially troubled shipyard Uljanik could cost the Croatian government up to 1% of its gross domestic product, according to a report by Standard & Poor’s ratings agency.“Although we believe that contingent fiscal risks are contained, some state guarantees could be activated and fall on the government’s balance sheet,” S&P said.“In particular, the resolution of the troubled Uljanik shipyard, which is currently in search of a strategic investor and could otherwise face bankruptcy, could cost the government up to 1% of GDP. The precise cost however depends on the final scenario, and the possible finalization of ships under construction.”The rating report comes only days after Croatian shipbuilder Uljanik Group revealed its intention to sell 3. Maj shipyard in an effort to raise the much-needed funds.However, the group informed that there are currently no legal procedures underway for the spin off of the shipyard, as the struggling company continues its search for much needed funds.Uljanik added that no formal steps would be made on the matter until the restructuring program for Uljanik Shipyard is adopted.The company was forced to restructure amid a downturn in the global shipbuilding industry coupled with rising competition on the Asian continent.World Maritime News Stafflast_img read more

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Woman Accused of Performing Illegal Sex Act on Robert Kraft Arrested

first_imgAccording to her arrest report, Mingbi was captured on video performing illegal sex acts on at least a half dozen other men.Mingbi is facing several charges including offering to commit prostitution and deriving support from prostitution.She appeared in Palm Beach County court Tuesday morning.One of two women, who Jupiter Police say provided sex acts to New England Patriots owner Robert Kraft, appears in court. @KChapmanCBS12 has the latest at noon. https://t.co/M2AZuMfGjK pic.twitter.com/naBJj3sod0— WPEC CBS12 News (@CBS12) April 23, 2019 The Jupiter day spa worker accused of performing an illegal sex act on New England Patriots owner Robert Kraft is under arrest.58-year-old Shen Mingbi was booked into the Palm Beach County Jail on Monday.According to the Jupiter Police Department, a hidden surveillance camera recorded Mingbi performing a sex act on Kraft at Orchids of Asia Day spa on Jan. 19. Afterward, he paid her and another spa worker, 39-year-old Lei Wang, in cash, police said.And prosecutors say they have the video to prove it and want a judge to make it public later this week.#BREAKING: Spa worker accused of performing sex act on Robert Kraft, others, arrested https://t.co/buABrD5Q4D pic.twitter.com/NKGyIu32Gl— WPTV (@WPTV) April 23, 2019 It is unclear if prosecutors are trying to flip Mingbi and have her testify against Kraft who has plead not guilty to misdemeanor solicitation charges and demanded a jury trial.last_img read more

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