11 July 2011The process aimed at attaining United Nations membership got under way today for the Republic of South Sudan as the President of the Security Council referred the application of the world’s newest country to the body tasked with examining such requests. The process aimed at attaining United Nations membership got under way today for the Republic of South Sudan as the President of the Security Council referred the application of the world’s newest country to the body tasked with examining such requests. The Council’s Committee on the Admission of New Members met this afternoon to review the application, which was submitted by the President of South Sudan, Salva Kiir, on 9 July, the day the country formally separated from Sudan and became independent.“I have the honour, on behalf of the Republic of South Sudan and its people, in my capacity as President, to submit this application for membership in this esteemed body as a full Member State,” Mr. Kiir wrote in a letter sent to Secretary-General Ban Ki-moon.“The Republic of South Sudan accepts the obligations contained in the Charter of the United Nations and solemnly undertakes to fulfil them,” added the letter, which Mr. Ban referred to the Presidents of the Council and of the General Assembly. Any recommendations for admission must receive the affirmative votes of nine of the Council’s 15 members, provided that none of its five permanent members – China, France, Russia, United Kingdom and United States – vote against the application.If the Council recommends admission, the recommendation is presented to the 192-member Assembly, where a two-thirds majority of members present and voting is necessary for admission of a new State.Should South Sudan’s application be approved by the Council and subsequently the Assembly, the country of more than 8 million people will become the UN’s 193rd member. Membership becomes effective on the date the resolution for admission is adopted by the Assembly.South Sudan’s independence is the result of the January 2011 referendum held under the terms of the 2005 Comprehensive Peace Agreement (CPA) that ended the decades-long civil war between the North and the South. In a related development, the Council today decided to close the six-year-old UN Mission in Sudan (UNMIS), which was set up to assist the parties in implementing the CPA, and called on the Secretary-General to complete the withdrawal of all its uniformed and civilian personnel, except those needed for its liquidation, by 31 August.In a unanimously adopted resolution, the Council emphasized the need for an orderly withdrawal of UNMIS following the 9 July termination of its mandate to pave the way for the new UN Mission in the Republic of South Sudan (UNMISS). The Council also requested the Secretary-General to transfer appropriate staff and supplies, including “the logistics necessary for achieving the new scope of functions to be performed,” from UNMIS to the new Mission and to the UN Interim Security Force for Abyei (UNISFA), which the Council set up last month to monitor the withdrawal of northern and southern troops from the region that is disputed by both sides. read more

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Investors should turn to retail stocks for bargains in 2014, says CIBC TORONTO – Bargain-hunters looking for value may want to consider investing in consumer stocks this year, as competition in the retail sector continues to intensify amid a lower loonie and more entrants vying for customers in an already crowded market, according to CIBC.In a note Wednesday, CIBC equity analyst Perry Caicco said that while the bank (TSX:CM) generally recommends investors focus on either “high-growth companies or more traditional companies where management is actively driving value,” it sees long-term underlying value in retail and consumer stocks.“As quarters unfold and as the challenges become apparent, (price/ earnings) multiples are likely to decline,” Caicco wrote.“But underneath it all, certain transition activities will begin to bear fruit and there could be some great bargains again among these stocks.”The note points out that the consumer staples index on the Toronto Stock Exchange has risen 53 per cent in the past two years, while the consumer discretionary index has gone up 67 per cent, mainly due to mergers and acquisitions and a number of successful real estate spinoffs.Caicco said the arrival of U.S. discounter Target changed the retail landscape in Canada, with other major players like Walmart and grocer Loblaws (TSX:L) expanding and diversifying to stay competitive.He describes this year as one of “digesting and transition” as many of these companies deal with acquisitions, increase their square footage and shift strategies to attract consumers.“Retailers are lapping a year of significant square footage growth and several got dented pretty badly. Even the multinationals like Walmart, Target and Lowe’s (especially Target) are not happy with their sales results,” he said.Competition will only increase with retailers Nordstrom and Saks set to land in Canada this year, noted Caicco, adding that some companies, like those in the grocery business, as well as Tim Hortons (TSX:THI) and Rona (TSX:RON) might be at risk during any period of transition.“We expect them (retailers) to be quite aggressive in the hunt for sales this year and everyone will have to respond or see revenues erode,” he said.“This does not necessarily ease in the second half — we believe this battle will continue all year.”This pressure could produce “unstable” earnings, which can result in share prices falling sharply, a trend seen with Loblaw late last year, Empire (TSX:EMP.A), Metro (TSX:MRU), Aimia (TSX:AIM), Rona and Dorel (TSX:DII.B).But the “slightest stumble” in profits for these retailers could also mean a shopping opportunity for bargain-hungry investors, noted Caicco. by The Canadian Press Posted Mar 26, 2014 2:00 am MDT read more