The oil spill that took place after two ships collided near the Ennore Port on Saturday has now spread along Chennai’s famous Marina Beach, reported The New Indian Express. Black patches were created on the shore because of the oil spill. While two submersible pumps were used by the Coast Guard to remove oil, workers and local people used buckets to scoop out oil from the shore since there was no other equipment at hand, reported The Times of India.
A large number of turtles and hatchlings were also found dead near Ernavour and some were washed on to Marina Beach. Environmental experts said the spill could have a long lasting impact on marine life. The area is known for Olive Ridley turtles, which nest on local beaches between January and April every year.
Tamil Nadu Pollution Control Board, Darya Ship Management and Kamarajar Port have been held responsible for damage to the environment, The Times of India report added.
Private companies have been invited to bid for the cleanup work as the Coast Guard lacks the technical expertise to do it. Fishermen around Marina complained that they found it difficult to take their boats into the sea because of the thick oil deposits. The fishermen have demanded compensation for loss of livelihood. The smell of the oil also troubled neighbourhoods along the beach, and the rocks on the coast were coated in sludge.
Early on Saturday morning, two vessels – MT Maple carrying LPG and MT Dawn Kanchipuram carrying petrol and lube oil – collided near Kamarajar Port. A statement from Kamarajar Port had then claimed that there was no damage to the environment, or casualty or injury.
Thought leaders and finance industry experts come together to create leaders of tomorrow
An exclusive course gives a select group of eight enterprising individuals a unique opportunity.
Moving from a mid-level to a leadership role is more than just a designation change. It is a transition that requires the development of key leadership skills including a larger overview of the industry one is a part of. According to an HBR study, as top executives make the transition to occupy leadership roles, having a strategic perspective of an industry is critical to becoming a good leader.
Especially when it comes to the world of finance, this strategic perspective is all the more important given the increasing volatility in the global economy due to political and economic developments. This is evidenced in the fact that in 2016, the global economy expanded only by 2.3%, down from 2.7% in 2015. Shifts in global economic power, technological breakthroughs and demographic and social change are major factors that influence financial policies and regulations.
To help keep the finance industry professionals ahead of the curve in the face of such challenges, Standard Chartered has partnered with Chevening, a UK based organisation, to create the Chevening - Standard Chartered Financial Services Fellowship. This programme focuses on industry insights, knowledge sharing and provides exposure to the workings of the international financial markets. Eight professionals from across various disciplines and industries with potential to become leaders in the financial industry have been selected to be a part of the exclusive course. The tailor-made programme, which will be conducted at King’s College, London, will focus on specialist skills such as risk-management, actuarial sciences, financial regulation and aims to deliver these through a holistic approach.
Immediately after British voters decided to leave the EU, the British pound suffered a 7.6% drop against the dollar. This seismic pound-dollar move caused by geo-political uncertainty is one of the many examples that highlights the importance of having a thorough understanding of how global developments can impact economies. The programme is designed to familiarise participants with the impact of such large-scale movements. While the focus is on examining regulatory and organisational implications of Brexit for the finance industry, the course also includes a study of EU’s financial architecture in the post-Brexit world. Course participants will visit the trading floors of major banks in Canary Wharf, the London Stock Exchange, and travel to The European Commission in Brussels and the European Securities and Markets Authority (ESMA) in Paris. With several companies operating across international boundaries, the experiences provided in this course will enrich them with an in-depth understanding of finance from an international perspective.
Networking with experts
The participants will have numerous opportunities to interact with experts from the Brexit Department; lawmakers, and regulators from the EU and experts from leading financial institutions. These networking opportunities are built in throughout the duration of the course, to enable the sharing of knowledge and industry insights.
Innovation and disruption
Almost all aspects of finance – from retail banking to investments – are being reimagined by digital breakthroughs. For instance, arecent report by Santander, Oliver Wyman and Anthemis estimated that blockchain technology could cut banks’ infrastructure costs for cross-border payments, securities trading and regulatory compliance by $15bn-$20bn a year from 2022. The course includes such modules that focuses on emerging financial innovations such as crowd-funding and blockchain and examines the ways in which they are disrupting the financial world. It aims to equip the participants with the ability to navigate the fast-evolving digital ecosystem.
The fellowship includes lectures by some illustrious faculty members of King’s College such as Dr. Leone Leonida, Co- Director MSc in Banking and Finance, who has published studies on Early Warning Systems and Banking crisis in low-income countries; Professor George Kapetanios, a published authority in econometrics and finance; Professor Jan Dalhuisen, whose research interest lies in International finance; and Professor Takis Tridimas, an authority on economic and monetary union and banking law. Bringing insights from a wide spectrum of financial and economic applications, the faculty will guide the course participants through the eight-week course and impart knowledge to develop the financial leaders of tomorrow.
Standard Chartered’s partnership with the UK government to deliver a holistic financial services leadership programme is part of their commitment to strengthen the global finance community by identifying and training future leaders of the industry. With a 150-year history in some of the world’s most dynamic markets, Standard Chartered, through its partnership with Chevening, aims to facilitate skill development and provide a platform to encourage cross-border engagement and learning. On completion of the fellowship, the participants will return to their respective professions with knowledge and skills that will enable them to further advance their organisation as well as the industry at large.
For more information on the Chevening-Standard Chartered Financial Services fellowship, see here.
This article was produced by the Scroll marketing team on behalf of Standard Chartered and Chevening and not by the Scroll editorial team.