FIFA to ban third-party ownership from next May

MARRAKECH, Morocco (AFP) — FIFA will ban third-party ownership of players from May 1 next year, ending a system which critics claim breeds corruption but whose advocates insist is a crucial financial lifeline for poorer clubs.

“The ban will come into force on May 1, 2015,” said a FIFA statement following a decision taken by the world body’s executive committee yesterday.

“Existing agreements shall continue to be in place until their contractual expiry. New agreements made between 1 January and 30 April 2015 will be subject to a time limit (one year maximum).”

Critics of third-party ownership have long argued that such arrangements, which players including Brazilian Neymar and Argentina’s Carlos Tevez have been subject to, can lead to conflicts of interest and possible corruption.

Supporters, however, have argued that it often enables poorer clubs to hang on to their best players by generating funds to match the wages of bigger and wealthier rivals.

View the original article here

FIFA to ban third-party ownership from next May

Jamaica now has full ownership of rare earth plant

Jamaica now has full ownership of  the Rare Earth Element Plant, following Thursday’s formal handing over of the facility to the Jamaica Bauxite Institute (JBI) by Nippon Light Metal Holding Company.
Over the next two years, the JBI will continue to receive technical expertise in bauxite red mud mineral extraction from Nippon Light. This will be a continuation of  the Japanese firm’s J$600 million investment in the Rare Earth Element Pilot Plant Project, jointly developed with the JBI. It was completed earlier this year.    
The project entailed development of  a state-of-the-art facility on the grounds of  the JBI, at Hope Gardens, St. Andrew, for the extraction of rare earth elements from bauxite residue and to determine the scope of a commercial rare earth elements extraction venture in Jamaica.                    

Commercial engagements under the project have been suspended due to unfavourable market conditions for rare earth elements, which are key components for manufacturing products such as electronic devices.

It will resume when conditions improve.

View the original article here

Jamaica now has full ownership of rare earth plant