WCM names winners of Return to Bay Street Award

first_img Keywords AwardsCompanies Women in Capital Markets Joseph Bakish named 2020 winner of IIAC Top Under 40 award Share this article and your comments with peers on social media IIAC introduces judges for Top Under 40 Award hyperspeed/123RF Frank Ryan wins 2020 Distinguished New Advisor Award Leah Golob Related news The award recipients this year have each won a minimum four-month contract with a participating firm. Recipients also receive a $5,000 educational grant, a one-day workshop to help prepare them for the industry, an interviewing skills workshop, a WCM mentor and a one-year WCM membership.The 2017 award recipients and their participating firms are:> Claire Blessing (RBC Capital Markets)> Kimberly Berman (BMO Capital Markets)> Christine Darling (Scotiabank Global Banking and Markets)> Lina Dihay (National Bank Financial Markets)> Hannah Green (TD Asset Management)> Carol Lee (BMO Capital Markets)> Amandeep Minhas (BMO Capital Markets)> Christine Sauriol (RBC Capital Markets)“We are proud to recognize these eight senior-level professional women who were chosen for the Return to Bay Street program this year,” says Jeannie Collins-Ardern, WCM’s interim CEO and president, in a statement.“These women are prime examples of experienced professionals who have made an immediate contribution to the firms they joined,” she adds. “As they are approaching the end of their contracts, we at WCM offer our congratulations to each of them and are excited to follow their careers and impact on the industry.”To date, 42 women have received the Return to Bay Street Award and a large majority of winners have turned their short contracts into permanent roles in the financial services sector, the organization says. FP Canada names Lifetime Achievement Award recipient Women in Capital Markets (WCM) has announced the eight winners of its annual WCM Return to Bay Street Award, now in its seventh consecutive year.The Toronto-based non-profit advocacy organization developed the award to help professional women with senior-level experience in the financial sector return to the industry after an extended leave. Facebook LinkedIn Twitterlast_img read more

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News / Sudden new ocean freight tax in India confuses and annoys forwarders

first_img Forwarders are expressing concern and confusion, on the eve of the new budget, over the recently implemented 4.5% ocean freight tax imposed on Indian importers.The tax came into effect on 22 January, with no notice, and is applied to all shipments imported into India which are ‘pre-paid’.If shipments are booked on the basis of cost and freight (C&F) or cost, insurance and freight (CIF), the ocean freight is paid by the exporter.But the confusion – as ever –  lies with who must pay the new import tax, with forwarders complaining that they are being treated like banks. By Alex Lennane 31/01/2017 One lawyer from Chennai advised: “Where a foreign consignor has engaged a foreign shipping line to transport goods to an Indian port, the person in charge of the vessel, or his agent in India, is liable to pay [the] tax.“It may be noted that this is a peculiar situation: where the person liable to pay service tax is neither the service provider nor the service receiver, but the agent of the shipping line.”Former president of the Indian cargo agents association Bharat Thakkar told The Loadstar: “This goes against the ‘ease of doing business’ promise by the government.“It is hoped that the government of India realises this soon. The issue faced by forwarders is that they will become bankers – just like air freight forwarders – having to pay and then recover the costs from customers.”Shipping lines were quick to respond to the tax, but have given customers longer to pay.Maersk told customers: “This government notification has been introduced at very short notice and comes into effect immediately. However, considering the need for a reasonable timeframe for our customers to adapt, Maersk Line will only start implementing this new tax on invoices issued on 1 February for non-FMC, and 22 February for FMC-regulated trades, for all prepaid ocean freight shipments.”One commodity trade expert told Hindu Business Line importers may have to pay the additional tax and recover it later from foreign suppliers.A forwarder in the UK told The Loadstar he didn’t believe the tax would be levied for long, calling it a “usual money-spinning Indian revenue generating concept, with no notice, that will undoubtedly be repealed”.Mr Thakkar said Indian forwarders were making representations to the government finance department to bring in zero tax once the new Goods and Services Tax is launched in July.center_img © Nickolay Stanev last_img read more

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