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Two months earlier, the tourist turnover realized last year was exceeded

first_img “The fact that more than two months earlier we exceeded the tourist turnover achieved in the whole of last year is an excellent result of Croatian tourism and a clear confirmation that this tourist year, despite all challenges, was excellently implemented by the entire Croatian tourism sector. We are optimistically entering 2020, which will also be demanding, and our primary goal will be to maintain Croatia’s competitive position in Europe, but also to further position ourselves in new distant markets, ” said the director of the Croatian Tourist Board Kristjan Staničić, adding that we will end October with ten percent growth compared to the same month last year, which testifies to the better affirmation of Croatia as a destination that offers much more than sun and sea. So far this year, most overnight stays were realized from the markets of Germany, Croatia, Slovenia, Austria, Poland, Italy, the Czech Republic and Great Britain, while, looking at destinations, most overnight stays were realized in Dubrovnik, Rovinj, Porec, Split, Medulin, Umag, Vir, Mali Lošinj, etc. Observing the results achieved by type of accommodation, most overnight stays were realized in household facilities (38,8 million), hotels (24,4 million) and camps (18,8 million). According to the first data of the eVisitor system, which contains tourist traffic realized in the commercial and non-commercial segment and nautical charter, in Croatia on today, October 25, 19.722.582 arrivals (+ 5%) and 106.162.242 overnight stays were realized. ), which exceeded the tourist turnover realized in the whole of 2, when 2018 arrivals and 19.719.329 overnight stays were realized. center_img “This result is proof that the Government of the Republic of Croatia is seriously approaching the development of tourism and considering innovative ways of conducting tourism policy, but also confirmation of the synergistic action of all stakeholders in the tourism system, public and private sector, and especially tourism workers.” would be possible. This year will be remembered as a turning point in which the entire tourism legislation was changed, and I believe that in 2020, when the new tourism laws will be applied, we will work even better and more sustainably, ” concluded Tourism Minister Gary Cappelli.last_img read more

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SKK Migas lowers oil and gas targets, seeks fiscal stimulus

first_imgA government upstream oil and gas agency has caved in to global economic pressures, revising down Indonesia’s production and earnings as first quarter production falls 9.6 percent below target.The Upstream Oil and Gas Special Regulatory Taskforce (SKK Migas) announced a 4 percent cut to production on Thursday to 725,000 barrels of oil per day (mbopd) this year from the initial target of 755,000 mbopd.SKK Migas also cut the gas production target by 14.2 percent to 5,727 million metric standard cubic feet per day (mmscfd) from 6,670 mmscfd. Indonesia’s Finance Ministry has revised down the country’s economic growth projection to 2.3 percent, the lowest since 1999, and many multinational oil and gas companies, including major investors in Indonesia such as Medco Energi, ExxonMobil and BP, have slashed their annual capital expenditure plans by about 30 percent.SKK Migas expects upstream oil and gas revenue to be 38 percent lower than expected at US$19.96 billion, assuming that the Indonesian Crude Price (ICP) – as projected by the Finance Ministry – averages $38 per barrel this year. The ICP was last recorded at $34.23 per barrel in March.Due to falling revenue, Indonesia’s non-tax state revenue from the oil and gas industry is projected to reach only $6.7 billion, 53.7 percent lower than initial expectations.SKK Migas plans to lobby the government and regional administrations to introduce a fiscal stimulus and cut bureaucratic red tape for upstream oil and gas companies respectively.Despite the lost income, SKK Migas deputy for business development Sulistya Hastuti Wahyu said oil and gas companies had not furloughed employees.“So far, there have been no requests sent to SKK Migas from oil and gas companies to terminate employment (PHK) in relation to COVID-19” he said.The oil and gas industry, which is a major contributor to Indonesia’s non-tax state revenue, has an advantage over most other industries as it is exempt from mandatory workplace closure under large-scale social restrictions (PSBB).SKK Migas said Indonesia’s first quarter oil and gas ready-to-use production, also known as lifting, was 1,749 mboepd, which is 90.4 percent of the state budget target.Taskforce data shows that, out of the top 15 oil producers, Jakarta-based Medco EP Natuna exceeded its target by the widest margin (117.6 percent) while Kuala Lumpur-based Petronas Carigali fell below its target by the widest margin (71.4 percent). The former produced 15.08 mbopd and the latter 9.19 mbopd.Out of the top 15 gas producers, London-based Premier Oil exceeded its target by the widest margin (111.2 percent) while Jakarta-based Pertamina Hulu Energi Jambi Merang missed its target the widest margin (72.1 percent). The former produced 239 mmscfd and the latter 94 mmscfd.Topics : “We are dealing with falling oil prices and a weak rupiah,” said SKK Migas head Dwi Soetjipto in a video conference about the industry’s first-quarter performance. “We are also struggling to tackle the spread of COVID-19.”Many such companies face lower productivity, delivery delays and slower mobilization times due to coronavirus emergency measures, all which were implemented to curb the spread of COVID-19 in Southeast Asia’s hardest-hit country in terms of reported fatalities.“We are looking for ways out so that changes don’t turn out that big,” added Dwi.His statement signals that SKK Migas has backtracked from a previous commitment “to ensure production targets are not affected by falling prices” – a commitment announced on the eve of an oil price crash on March 9. The world’s economic outlook has spiraled since that day.last_img read more

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Governor Wolf Signs Historic Liquor Reform Bill

first_img June 08, 2016 Bill Signing,  Economy,  Government That Works,  Liquor Reform,  Press Release,  Results Harrisburg, PA – Today, Governor Wolf was joined by legislators to sign a historic liquor reform bill that will enhance the customer experience by providing greater convenience and satisfaction.“This is truly a historic day for Pennsylvania and the most significant step the commonwealth has taken to reform our liquor system in 80 years,” said Governor Tom Wolf. “I want to commend leaders and members from both parties in the House and Senate for coming together to pass this legislation, and today, I am proud to sign it into law. As I have always said, my goal is to modernize the sale of liquor and beer in Pennsylvania and this reform package finally brings Pennsylvania’s wine and spirits system into the 21st century.”“As the author of the final version of this bill, I am extremely grateful that all sides were able to set aside partisanship and unite around a plan that truly puts the consumers first,” said Senator Chuck McIlhinney. “I would also like to thank the Governor for reaching a compromise that puts the citizens of Pennsylvania ahead of politics.  The reforms included in this bill are measures that consumers have requested for years, and I appreciate the fact that we were able to reach a compromise that responds to the most pressing concerns we hear from community residents.”This bill:Removes Sunday restrictions and state-mandated holidays.Enhances customer loyalty programs and opens up coupons at state stores.Provides options for flexible pricing to allow state stores to offer special discounts and sales.Allows restaurants and hotels to sell up to four bottles of wine for take-out.Allows grocery stores that currently sell beer to sell up to four bottles of wine.Allows for direct shipments of wine to people’s homes.And makes permanent gas stations’ ability to sell 6 packs.“This historic legislation is a tremendous leap into bringing Pennsylvanian into the 21st century,” said House Speaker Mike Turzai, the prime sponsor of the legislation.  “This privatization bill will bring consumers the added choice and convenience they have been asking for since Prohibition.”“Pennsylvania has taken a huge step to finally provide consumers with more convenient ways to purchase wine and spirits,” said Representative Paul Costa said. “There will be more options for one-stop shopping to get what they need. Making smart changes at the state’s Fine Wine and Good Spirits Stores will also help to maintain thousands of existing jobs and increase revenue to begin closing our huge budget gap.”All of these improvements will enhance the customer experience by providing greater convenience and satisfaction and increase much-needed revenue to help balance our budget.Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf SHARE Email Facebook Twittercenter_img Governor Wolf Signs Historic Liquor Reform Billlast_img read more

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Romanian second-pillar pension funds surge in size, profitability

first_imgRomania’s second-pillar pension funds have surged in asset size and profitability this year.According to data from the Private Pension System Supervisory Commission (CSSPP), the pension regulator, the total net asset value of the eight second-pillar funds totalled RON12.8bn (€2.9bn), a year-on-year rise of 45.6% in Romanian currency terms.Over this period, the number of members grew by 3.2% to 5.95m.Most of the asset increase is due to the government’s maintaining this year’s planned rise in the contribution rate, from 3.5% of gross wages to 4%. Catalin Ciocan, executive secretary of the Romanian Private Pension Funds Association, said: “Out of the RON4bn increase in net assets, 73% represents the contributions directed to the second pillar, and the difference (RON1.05bn) is explained by the investment performance of the funds.“The total performance since the system’s inception remains very strong: the funds posted a net annualised average return of 11.7%, meaning a net gain (net assets minus gross contributions) of RON2.28bn since their inception in 2008.”Current legislation for the second pillar – which since 2008 has been mandatory for those up to 35 years old and voluntary for those between 35 and 45 years – envisages yearly increases in the contribution rate.The government has still to finalise the 2014 Budget.“In the short term,” Ciocan added, “the most important action to support the continuation of these very good results would be to increase the contribution rate to 4.5%, and we are waiting for official confirmation from the government.”According to CSSPP, the weighted annual average return rose over the year from 6.2% to 10%.The strong performance of the funds is largely due to their heavy investment in state bonds – an average 76% as of the end of September – which saw prices rise significantly this year.Profitability has also been impressive.As of the end of June, total profits grew by 43% year on year to RON440.4m.ING, with the biggest fund by assets and membership, recorded the highest profit, of RON146.7m.In the case of the smaller, third-pillar pension fund system, in operation since 2007, assets grew by 35.2% to RON750.1m and membership by 8% to 305,796 as of end September.Returns for the balanced funds rose from 5.3% to 9.6%, and those for the higher-risk dynamic funds from 5.3% to 10.5%.The total profits of the 10 funds grew by 7.8% to RON22.4m as of end June.last_img read more

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Wednesday people roundup

first_imgAmundi – Fabrice Bay has been appointed as a senior portfolio manager on a global equities strategy at the French asset manager. Bay will now report to Nicholas Melhuish, head of global equities. He joins from Martin Currie. Before then, he worked at GLG Partners as a hedge fund manager and had roles with Deutsche Wealth and Asset Management in equity portfolio management. He will be based in London.Investec Asset Management – Matthew Oakeley has been appointed as chief technology officer, joining from rival manager Schroders. Oakeley will develop the company’s technology used by clients. He will report to COO Kim McFarland.LCP – Caroline McGowan has joined the UK consultancy as a senior consultant in its defined contribution (DC) business. McGowan joins in September from rival Hymans Robertson, where she was principal of DC provider relations. McGowan will help build LCP’s DC solutions business, focusing on member interaction.Kames Capital – Carly Norris has been appointed institutional relationship manager at the asset management firm, joining from Janus Capital International. Norris will join the eight-person institutional business team and be responsible for maintaining client and consultant relationships and business development. At Janus, she was consultant relations manager on its institutional sales team. JP Morgan Asset Management, Russell Investments, Grant & Eisenhofer, APG, Insight Investment, Mediolanum Asset Management, Amundi, Martin Currie, Investec Asset Management, Schroders, LCP, Hymans Robertson, Kames Capital, Janus Capital InternationalJP Morgan Asset Management – Sorca Kelly-Scholte is to join the asset manager at the end of the month as head of pensions solutions and advisory for the EMEA. Kelly-Scholte joins from Russell Investments, where she was managing director of client strategy and research. At JPMAM, she will be responsible for a London-based team focusing on advising institutional investors and conducting research on investment issues.Grant & Eisenhofer – Guus Warringa has joined the investment law firm after leaving Dutch pension fund manager APG. Warringa was instrumental in lawsuits by ABP – APG’s client – against Goldman Sachs, JP Morgan, Morgan Stanley, Deutsche Bank and Credit Suisse over the alleged mis-selling of collateralised debt obligations. He spent seven years at the firm, leaving as general counsel. Prior to this, he was general counsel at Euronext in Amsterdam.Insight Investment – Lloyd Thomas has joined the asset manager as a multi-asset portfolio manager, joining from Mediolanum Asset Management. He joins the London office and will work on the multi-asset strategy group’s ‘broad opportunities’ strategy. He spent six years at Mediolanum before moving to Insight and will report to Matthew Merrit, head of multi-asset.last_img read more

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WinGD dual-fuel engines chosen for CMA CGM LNG newbuilds

first_imgWinterthur Gas & Diesel (WinGD) said that the French shipping line CMA CGM has chosen WinGD dual-fuel low-speed engine to power its nine newbuilds.The 12-cylinder X92DF engines will power a series of nine LNG-fueled containerships, each with a capacity of 22,000 TEU, making them the largest containerships ever ordered, WinGD said.The vessels ordered by CMA CGM will be built at the yards of Hudong-Zhonghua Shipbuilding and Shanghai Waigaoqiao Shipbuilding.They are due to enter service in 2020 on routes between Asia and Europe and are designed to have the potential to sail complete Asia-to-Europe voyages on liquefied natural gas (LNG).CMA CGM previously selected its compatriot GTT to design cryogenic tanks for nine LNG-fueled containerships, with 18,000 cubic meter bunker capacity.Bureau Veritas has been selected to carry out the classification of the vessels.last_img read more

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Manny Pacquiao sued after shoulder injury claims

first_imgManny Pacquiao has been sued by two boxing fans for millions of dollars after claiming that the boxer and his team had failed to disclose his shoulder injury to the Nevada Athletic Commission prior to his May 2 match against Floyd Mayweather Jr. as required by law.The lawsuit, filed by Stephane Vanel and Kami Rahbaran,”on behalf of all persons who purchased tickets; purchased the pay per view event or who wagered money on the event,” claims damages for those who “were victimized by the Defendants’ failure to disclose his injuries before  his fight against Floyd Mayweather in Las Vegas.The Nevada Athletic Commission (NAC) says Pacquiao, 36, did not declare the injury on a pre-fight questionnaire.But the fighter says he was transparent and a treatment plan had been agreed. Pacquiano has been sued for 5 million dollars.The lawsuit comes on the heels of a Monday report by the Associated Press that said Francisco Aguilar, Chairman of the Nevada Athletic Commission , was investigating why Pacquiao checked “no” when asked to disclose if he was injured.Koncz later shouldered the blame saying, “I checked it. It was just an inadvertent mistake.”Meanwhile, undefeated boxer Floyd Mayweather has said that he is willing for a rematch against Pacquiao after the Filipino boxer gets treated for a shoulder injury.Mayweather won last weekends richest boxing world title showdown, before Pacquiao disclosed that a shoulder injury hampered his performance.Pacquaio and Top Rank released a joint statement Tuesday regarding the shoulder injury, but said nothing regarding the lawsuit. Manny Pacquiao has been sued for 5 million dollars for allegations of lying about his shoulder ijurylast_img read more

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Leicester beat 10-man Southampton 9-0

first_imgRelatedPosts EPL: Vardy primed for another prolific season after brace at West Brom Vardy signs one-year Leicester contract De Bruyne wins Premier League Player of the Season Leicester City on Friday equalled the biggest ever win in Premier League history with an 9-0 hammering of Southampton.Ayoze Perez and Jamie Vardy both hit hat-tricks as Brendan Rodgers’ side moved second with the biggest ever away win in the history of the league.They are five points behind unbeaten leaders Liverpool after the landmark win but will drop back to third on Saturday if Manchester City beat Aston Villa.Channels TV. Tags: Ayoze PerezBrendan RodgersJamie Vardylast_img read more

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Schalke goalie Nubel joins Bayern

first_imgRelatedPosts Club’s server collapses over ticket demand for first Bundesliga game in 11 years Bayern Munich fans undergo Super Cup coronavirus tests Suarez agrees Atletico terms Bayern Munich have signed goalkeeper Alexander Nubel as a long-term replacement for captain Manuel Neuer. The Bundesliga Champions announced on Saturday they had agreed to sign Nubel on a free transfer from Schalke and that he will join the club officially on July 1. Bayern Munich beat the likes of Barcelona, Atletico Madrid and AC Milan to Nubel’s signature. In a statement posted to the club website, Munich said: “Bayern and Nubel have agreed this transfer in the past days. “The 23-year-old goalkeeper’s contract with Schalke runs until June 30. Nubel arrives in Munich without a transfer fee and on a five-year-deal.” Current stopper Manuel Neuer, 33, has recently come out and explained that he has no intention of “fading” into the distance at the club, via Marca. Nubel has been tipped to take Neuer’s place for both club and country – with the significant age gap of ten years a primary factor for this transfer. Schalke – the club Neuer also joined Bayern from – had been attempting to get Nubel to extend his contract and had even made the former Germany under-21 goalkeeper their team captain. He turned down the club’s offer to extend his contract in December. Nubel, who joined Schalke as a youth player from Paderborn, has made 35 Bundesliga appearances in his career.Tags: AC MilanAlexander NubelAtletico MadridBayern MunichBundesligaManuel Neuerlast_img read more

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