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HARARE， Oct. 21 (Xinhua) -- Zimbabwe is set to commission the Victoria Falls International Airport， which has just finished renovation， in November， a government official said Friday.

 

The government had initially set the commissioning for May but failed to meet the deadline due to delays in construction.

 

Speaking at a budget meeting for a parliamentary committee on transport， Permanent Secretary in the Ministry of Transport and Infrastructure Development Munesu Munodawafa said the expansion of the airport had now been completed.

 

Work to upgrade and expand the airport by China Jiangsu International began in 2013 and was financed through a-150-million-U.S.-dollars loan from the Export-Import Bank of China.

 

The renovation and expansion project will increase the airport's passenger handling capacity to 2 million per year， up from 500，000.

 

Part of the airport infrastructure， including the new international terminal building， runway and control tower， became operational in December 2015.

 

The project was done in two phases. The first phase involved the construction of a new terminal building， a 4-km runway， conversion of existing 2.2-km runway into a taxi way and construction of a road network and a car park.

 

A new fire station and control tower was also constructed under the first phase.

 

The second phase involved renovation， upgrading and conversion of the old terminal building into a fully-fledged domestic terminal.

 

After upgrading and expansion， the airport is expected to attract more airlines from the world and bring closer to tourists Zimbabwe's prime tourist destination -- the famed Victoria Falls.

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BEIJING Cheap Air Max 95 , Jan. 4 (Xinhua) -- The central parity rate of theChinese currency renminbi, or the yuan, weakened 123 basis pointsto 6.5043 against the U.S. dollar Thursday, according to the ChinaForeign Exchange Trade System.

 

In China's spot foreign exchange market Cheap Air Max 97 , the yuan is allowed torise or fall by 2 percent from the central parity rate each tradingday.

 

The central parity rate of the yuan against the U.S. dollar isbased on a weighted average of prices offered by market makersbefore the opening of the interbank market each business day.Enditem

 

 

Unwrapping Bankruptcy

Posted by nick_niesen on October 29th, 2010

 

Bankruptcy is a choice many consider when faced with unmanageable multiple debts. But finance experts agree that declaring oneself bankrupt should be an indebted individual's last resort to meet his dues. It may free a person's mind from the pressure of paying his debts but it can also seriously damage the person's morale and credit history for a long time. Aside from this, people who declared themselves bankrupt are often met with hostility by the people around them. But as an option to reduce financial burden, bankruptcy is still worth considering.

 

By filing for and declaring oneself bankrupt Cheap Air Max 270 , a debtor's relationship with his creditors is adjusted. Many of his debts are forgiven and he is also allowed to keep some properties labeled as exempt items. However, all of his valuable properties are sold off and the proceeds are distributed among his creditors. As a result, some of his debts can be paid in full or just partly. If most of his valuable properties (i.e. house, car) are named as collateral for any debt such as mortgage or a car loan Cheap Air Max 90 , the proceeds from the selling of these items are used to pay these specific debts. Only the balance or excess is used to pay off the other debts. In a sense, bankruptcy fulfills two ojectives: it frees the debtor from paying his debts and ensures that all assets are distributed among the his creditors.

 

Bankruptcy happens in two ways: voluntary or involuntary. Declaring oneself bankrupt is categorized as voluntary whereas being forced into declaring bankruptcy by creditors is involuntary. Lawyers who specialize in finance cases advise debtors to cooperate in cases of involuntary declarations. There are also different types of being bankrupt. One is filing for a straight bankruptcy wherein all your properties are sold to pay off debts and the other is arranging for a repayment plan to avert foreclosure or repossession of properties. People whose debts are incurred by temporary setbacks (sickness, divorce) are usually considered for the partial type.

 

Although being bankrupt does lighten one's financial burden, it also has drawbacks. First Cheap Nike Air Max Shoes , the debtor loses all control over his properties and assets. Any business the debtor owns is closed and all its employees are dismissed. Second, his credit accounts are closed such as loans, credit cards, and bank accounts. Also Cheap Air Max Shoes , bankruptcy remains in a person's credit history for 10 years which can seriously damage his credit reputation. Third, his bankrupt state is made public by advertisements in local papers. In addition, the bankrupt individual must inform every person he deals with about his bankrupt state unless after he is discharged. As a result, the bankrupt often faces hostility Cheap Nike Air Max , or prejudices in terms of business or professional opportunities.

 

Finance experts generally recommend assessing financial situations before filing for bankruptcy. It is often the case that debtors declare bankruptcy without first exploring other options to settle their debts. However, if it is unavoidable, they advise debtors to seek professional help such as financial advisors or finance lawyers to help them understand the process and its effects. Debtors need to pay court application fees, but if they cannot afford it Cheap Air Max , there are non-profit legal aid organizations that are willing to help.

 

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