first_img[Video: Jarrett Morgan]With just a few of the many artists performing at Frendly Gathering this year, it’s clear why the lauded music festival has become such a staple of the Northeast. Its lineup boasts a staggering array of artists from a number of genres, tapping nationally renowned and critically acclaimed artists to head the bill. Moving down the lineup, there’s no sacrifice in quality, with the musicianship across all the artists on the bill sure to delight any music fan. Frendly Gathering will return to Sugarbush (Mt. Ellen) in Waitsfield, Vermont, this summer from June 28th to 30th. The long-running, fan-favorite festival will host the return of Twiddle, in addition to performances by Greensky Bluegrass, The Devil Makes Three, Nahko & Medicine For The People, Kamasi Washington, Trevor Hall, Emancipator, Kat Wright, Spafford, and many, many more. For more information and tickets, head to Frendly Gathering’s website here. Frendly Gathering has become a fan-favorite music festival in the Northeast, with the event returning this year to Sugarbush Resort in Waitsfield, Vermont, from June 28th to 30th. This year, the long-running festival will host the return of Vermont’s own Twiddle, in addition to performances by Greensky Bluegrass, The Devil Makes Three, Nahko and Medicine For The People, Kamasi Washington, Trevor Hall, Emancipator, Kat Wright, Spafford, and many, many more. Highlighting the festival’s meticulous attention to curating a diverse, quality lineup, from top to bottom, its selection of artists in 2018 excels. (For more information and tickets, head to Frendly Gathering’s website here.)Vermont’s homegrown jam gurus of Twiddle will be heading Frendly Gathering’s bill on Friday, June 29th. Furthermore, on Thursday, June 28th, the festival will host a collaborative performance featuring Twiddle’s Mihali Savoulidis and Nahko Bear of Nahko and Medicine for the People during a special headlining set. Plus, given the ties between Frendly and Twiddle, the festival is likely to see the members of the group sit-in across the weekend, like when Mihali sat in with Big Gigantic in 2016.[Video: Frendly Presents]The band has become a staple of Frendly Gathering over the years, with the members of Twiddle becoming close to the festival’s founders, pro-snowboarders Jack Mitrani and Danny Davis. Twiddle has grown with the festival, slowly rising the ranks of the jam scene as the festival has consistently expanded each year. Most recently, Twiddle has been gaining increasing renown for their ties with Grateful Dead bassist Phil Lesh—Lesh and his son Grahame sat in with Twiddle during the band’s first-ever headlining performance at the legendary Red Rocks Amphitheatre, and the next night, Mihali returned the favor, coming out to join Phil Lesh & The Terrapin Family Band for encore.[Video: Josh Woodby]While Twiddle is a staple of Frendly Gathering, the festival’s headliners are primarily artists who have not previously performed at the lauded Northeast event. For example, on Saturday, June 30th, the boys from Greensky Bluegrass will make their debut at Frendly Gathering, closing out the event with their own headlining performance. The band has become one of the most famous and loved modern, progressive bluegrass acts in the country, with a rabid contingent of fans nationwide. Much of this comes from the band’s adventurous spirit and defiance of tradition, highlighted in their fiery improvisation and genre-spanning influences. In addition to their extensive songbook of originals, the band frequently incorporates tastes from other genres, crafting bluegrass-inspired renditions of songs from beloved artists like Phish, The Grateful Dead, Dawes, Prince, Bruce Springsteen, and many more.Greensky Bluegrass – “When Doves Cry” – <[Video: Hyphytek]Another headliner new to Frendly Gathering is Kamasi Washington, the contemporary jazz saxophonist, composer, producer, and bandleader. Washington is the face of a new wave of modern jazz artists, who have earned critical acclaim and reignited mainstream popularity for the genre. The depth and complexity of his sound is highlighted on albums like 2017’s audiovisual masterpiece, Harmony of Difference, and his sprawling 2015 effort, The Epic. However, outside of his own solo work, Kamasi has gained renown for his many collaborations, which range from sit-ins with String Cheese Incident and Vulfpeck at the famed Red Rocks Amphitheatre to studio work with Herbie Hancock, Thundercat, and others.Kamasi Washington – “Street Fighter Mas”[Video: KamasiWashington]While Frendly Gathering boasts an exceptional lineup of headliners—also including Nahko and Medicine for the People, The Devil Makes Three, and Trevor Hall—the festival truly shines with its collection of artists as a whole. The festival has pulled artists from a huge range of genres, ensuring that there’s a little something for everyone. With everything from jam to soul to electronic to funk and the many spaces in between represented, this year, the independent festival has curated a truly diverse lineup from top to bottom.Kat Wright, the sultry and soulful songstress, will represent the local contingent, returning to the festival along with other regional acts like Twiddle and others, during her set on June 29th. Previously described as “a young Bonnie Raitt meets Amy Winehouse,” Wright has consistently astounded audiences with her powerful vocals. A captivating performer with a dynamic songbook, her catalog is rooted in soul though draws influence from good old-fashioned rock ‘n’ roll and funk, as well as less suspecting genres, like hip-hop and jam.Kat Wright – “All About You” & “Come Dance” – Otis Mountain Get Down 2016[Video: Otis Mountain Get Down]Another exciting addition to Frendly Gathering’s lineup is Spafford, the Arizona-based jam act. In recent years, the band has witnessed a truly astounding rise within the jam scene—the group’s meteoric ascent is made all the more astonishing given that the group only recently began touring outside the Southwest, yet continues to sell out increasingly larger venues each tour. Best known for their immense improvisational abilities, Spafford has gained fans for their fearless and relentless jamming, setting themselves apart with their extended, unrehearsed jams that can span an hour in length.Spafford – “The Postman” – The Fillmore – Detroit, MI – 2/4/2017center_img [Video: SpaffordMusic]While Frendly Gathering’s lineup consists of many incredible live bands and artists, the festival has ensured that electronic music is represented. However, keeping in the lineup’s attention to musicality above all else, the festival has tapped Emancipator for a Saturday performance. Emancipator is one of the most lyric producers of our time, offering sonically rich, thoughtful, and complex tracks that range from downtempo and ambient to trip-hop and beyond. A musical mind through and through, Emancipator frequently works live instrumentation into his performances, inviting violinist Ilya Goldberg to tour with him in the past and forming his live band, Emancipator Ensemble.Emancipator Ensemble – Red Rocks Amphitheatre – 5/27/2018last_img read more

first_imgBy David Emory StooksburyUniversity of Georgia Athens, Ga. –- An extremely dry May is setting low rainfall records across Georgia. May is traditionally one of the drier months, with rainfall normally averaging 3 to 4 inches across the state.No rain was recorded in May in many places from near Macon to south of Albany. University of Georgia weather stations recording no rain in May in this area were Arabi, Camilla, Cordele, Jeffersonville and Newton.With little to no rain in May, drought conditions in the lower Flint River Valley and middle Georgia have deteriorated very fast. Much of this region will be reclassified on Monday as being in extreme drought.May rainfall set preliminary record lows at Camilla (0.00 inches), Cedartown (0.80), Macon (less than 0.01), Plains (0.00 tied 1962), Rome (0.22), Tifton (0.02) and Valdosta (0.20 tied 1920).Total April and May rainfall set preliminary record lows at Alma (0.42 inches), Camilla (0.58 tied 1986), Cedartown (2.36), Plains (0.35), Rome (0.35), Tifton (0.02) and Valdosta (0.65).More recordsRainfall totals for March through May set preliminary record lows at Alma (2.39 inches), Atlanta airport (5.07), Camilla (2.08), Macon (3.59), Plains (2.32), Rome (2.40), Tifton (1.90) and Valdosta (0.69).Based on preliminary data, June 2006 through May 2007 rainfall set record lows for that period at Alma (29.82 inches) and Rome (31.97).UGA weather stations with less than 0.25 inches of rain in May were Alapaha (0.16 inches), Alma (0.19), Arabi (0.00), Attapulgus (0.19), Byromville (0.13), Byron (0.03), Cairo (0.24), Calhoun (0.06), Camilla (0.00), Cordele (0.00), Dawson (0.01), Dixie (0.02), Eatonton (0.17), Fort Valley (0.17), Homerville (0.18), Jeffersonville (0.00), Moultrie (0.06), Newton (0.00), Plains (0.02), Sasser (0.13), Shellman (0.03), Tifton (0.01), Ty Ty (0.08), Unadilla (0.18), Vidalia (0.01) and Vienna (0.12).Since the planting season started in full force April 1, several UGA weather stations have had less than 2 inches of rain. These are Alapaha (0.40 inches), Alma (0.20), Attapulgus (0.61), Brunswick (1.41), Cairo (1.00), Calhoun (1.23), Camilla (1.56), Dixie (0.48), Douglas (0.37), Eatonton, (1.11), Fort Valley (1.46), Griffin (1.88), Homerville (0.24), Moultrie (0.24), Nahunta (0.80), Rome (1.62), Savannah(1.29), Skidaway Island (1.87), Statesboro (1.77), Tifton (0.46), Ty Ty (1.02), Valdosta (1.15), Vidalia (0.71) and Woodbine (1.32).Outdoor wateringThe entire state remains under the level-2 outdoor water-use schedule. Outdoor watering is allowed from midnight to 10 a.m. on Sundays, Tuesdays and Thursdays at odd-number street addresses and on Mondays, Wednesdays and Saturdays at even-number addresses. It’s banned all day on Fridays.Several local water authorities have further restricted outdoor watering.Get updated drought information at www.georgiadrought.org. The state drought Web site includes information on how to deal with the drought.The University of Georgia automated weather stations may be accessed at www.georgiaweather.net. This UGA network has 71 automated weather stations statewide.(David Emory Stooksbury is the state climatologist and a professor engineering and atmospheric sciences in the University of Georgia College of Agricultural and Environmental Sciences.)last_img read more

first_imgThe Vermont Retail Association (VRA) and Efficiency Vermont have launched a new partnership to help Vermont’s retailers become more energy efficient and save money. On Wednesday, August 3rd the two organizations will host a breakfast meeting to introduce the program to businesses in Montpelier and Central Vermont. The meeting will take place from 8 a.m. to 10 a.m. at VRA’s offices 148 State St. in Montpelier.  Persons interested in attending should RSVP to Ceil Stryzminski of VRA by phone at (802) 839-1931 or by email at [email protected](link sends e-mail). ‘We’re very excited to work with Efficiency Vermont in support of our members,’ stated Tasha Wallis, VRA’s Executive Director. ‘This is a golden opportunity for retailers in the capitol and central Vermont area to save energy and money and strengthen their bottom lines at the same time.’   Centerpiece of the event will be a presentation by Susan Thompson, Efficiency Vermont Planning and Development Manager dedicated to the retail market. Thompson will explain how the new partnership can help retailers. Benefits include recommendations for energy efficiency improvements in businesses, as well as financial assistance in the form of standard rebates.  VRA Marketing and Public Relations consultant James Tabor will offer a brief presentation tailored specifically to the needs of area businesses. Working with Efficiency Vermont has produced significant immediate benefits for Vermont retailers as well as long-term dividends. Bonnie Hawley, a Rutland florist who is also president of VRA’s Board of Trustees, recently worked with Efficiency Vermont to make her store more energy-efficient. ‘Efficiency Vermont helped me determine that the store’s lighting was using far too much energy,’ said Hawley. ‘They provided the information I needed to make my lighting upgrade a reality and were very easy to work with. The financial incentives were helpful to get the project done. I’d highly recommend them to every retail business owner.’  About the Vermont Retail AssociationFor more than 40 years, VRA (www.vtretailers.com(link is external)) has helped thousands of Vermont businesses do business better. Any Vermont business is welcome to join. VRA’s mission is serving the needs of Vermont businesses with a wide variety of programs, services, benefits, and advocacy in Montpelier. About Efficiency VermontEfficiency Vermont (www.efficiencyvermont.com(link is external)) was created by the Vermont Legislature and the Vermont Public Service Board to help all Vermonters reduce energy costs, strengthen the economy, and protect Vermont’s environment. Efficiency Vermont is currently operated by Vermont Energy Investment Corporation (VEIC), an independent organization under contract to the Vermont Public Service Board. VEIC is a Vermont-based nonprofit organization founded in 1986.last_img read more

first_imgWhile some laugh, others with the help of Black Egg open new markets and grow. Provocative? Yes, of course, but the most important thing is not PR but the fact.After the last article on the topic Black Egg business model, a big debate has opened that continues even today, and the biggest debate is that the Black Egg is a synonym for cheap accommodation, which is certainly a misconception. On the contrary, Crno Jaje is an excellent channel for promotion and sales, and they cooperate with the strongest hotels in Croatia. Then there is certainly something in that “Black Egg”, if the strongest hotels in Croatia see their interest, right?”We have been recognized by the strongest hoteliers in Croatia, and this fact only shows that Crno jaje is not a synonym for cheap accommodation, but as an excellent sales channel and a smart modality of work for the largest hoteliers. They know when, how and how to use Black Egg as a sales platform. ” Hrvoje Bujas, the owner of Crni Jaj, pointed out and added that they cooperate with Valamar, Maistra, Toplice Sv. Martin, Supetar Waterman Resort and many others.At the moment, my focus is on their campaign for Martinje, which is interestingly not limited to Zagorje, so here is the reason for a new story. “Martinje, which was actually just an event limited to Zagorje and Međimurje, we put it together as an offer and a nice package so we sell arrangements from Istria, Kvarner, Zagorje, Međimurje, Podravina, Moslavina, Banovina, all the way to Slavonia and Baranja, I hope and Dalmatia next year “Hrvoje Bujas points out and adds that Crno jaje has placed completely new products on the market in the last seven years or reengineered the existing one.We all know that the most important base for continental tourism is the domestic market, ie domestic guests as a basis. That’s why it’s great for me to see continental destinations wake up slowly and be proactive. Yes, it is a difficult and long way to success, but everything starts with the first step and branding.An excellent channel for the promotion of continental tourism and weekend events This is exactly the kind of promotion that continental tourism needs. Weekend trips as a starting point to get to know the hidden and unexplored interior, ie continental Croatia. What to do for the weekend? Experience Slavonia, Zagorje, Lika and everything is well packed in various Dolska motifs. From local gastronomy, active vacation to wellness.Experience the sound of the forest, the river, the silence of the golden plain, etc.… We have as many motives for the play on words as we want. But first and foremost we have to make tourist arrangements, and offer them to the market. Both to the agencies and to the target group through promotion. We need to send a call to be discovered. This is the first prerequisite.A great example is Baranja, which has positioned itself as the best destination in Slavonia. If someone had told you five years ago that people would get in the car for the weekend from Zagreb on their way to Baranja, they would have said that he was crazy. But this is exactly what is happening, and everything is accompanied by a great response of business team building in Baranja. Crno Jaje certainly played a big role, where Baranja positioned itself through all their channels for years, as well as campaigns on Nova TV and Dom TV, with which Crnja jaje collaborates and places certain campaigns, and where Baranja was constantly spinning and jumping out of the pate.And the numbers prove that the thing works. As Bujas points out, no one can fill a hotel in seven days like we can, there is no tool on the market other than Black Egg. “This year, over 500 arrangements for Martinje were sold, whether it was a one-day trip or a package of two nights, an increase of 30% over last year.. “Here’s another example that immediately popped up at first glance. This is the Sv. Martin Spa campaign, where the offer for 3 nights and New Year’s Eve is 3121 kn. And it’s not that cheap, is it? Have a full hotel for three days + extra spending, great calculation. On the other hand, who wouldn’t love to have their hotel filled for the New Year, St. Martin’s Day or any other event in their own organization?”We have rebranded the approach to the organization of New Year’s Eve, we currently have as many as 50 offers, many completely different from standard offers on the market, such as Welcome to Wellness & evening with Nena Belan in Sveti Martin or for the first time since Croatian independence New Year’s Eve 2019 in Hotel Imperial Park in Vodice with a beautiful evening with Goran Karan, and in other hotels also perform Škoro, Suhodolčan… This year we expect over 100 offers for the New Year, and sales growth of a further 10%.”Says Bujas and adds that Crno Jaje wants to provide its customers with a new and unique experience at a good price, and partners on the other hand, in a fast way and with a strong TV campaign on NovaTv and DomaTv to fill all their capacities.If you ask me how to fill a hotel out of season or sell a weekend with an overnight stay with some content I definitely recommend Black Egg as one of the tools. Finally, in addition to sales, there is also a segment of large media reach and destination positioning, which is a great value in the long run and with a combination of other promotion channels.The market is growing and developing, as is the competition fighting for the same guests in the domestic market. If you want to grow you have to find various ways to reach the target group because the noise in communication is getting bigger and bigger day by day. More and more hotels are organizing New Year’s Eve and various weekend packages as motives for arrival. From wellness weekends for guests to rest their body and soul, organization of concerts, sports events, to various gastronomic tours.In any case, whether you like Black Egg or not (btw it’s not even important in business, but the account balance at the end of the month) is the fact that thanks to this business model sold out a lot of restaurants, hotels, events, stories… Market competition is open , let the better, more skilful and creative win.RELATED NEWS:last_img read more

first_imgCondé Nast Traveler points out that Hvar is an excellent destination to visit all year round, especially due to warm summers and mild winters, and points out the well-known Hvar statistics – that this is the sunniest island in Croatia, with more than 2800 hours of sunshine a year. This world-renowned magazine also highlights the rich historical heritage of the town of Hvar – highlighting the 13th-century Fortica Fortress as an unavoidable cultural monument. Also, the editors write about the famous harvest of Hvar lavender, which becomes one of the main attractions in the summer months. Along with Hvar, the five best islands include the Greek islands of Crete, Paros and Mykonos, and the Danish island of Bornholm. “This award is a kind of crown to our successful season behind us. We are honored to be in the company of the world’s best islands – this is a reward for all tourist stakeholders in our city and our island. In the Tourist Board of the town of Hvar, in the post-season we continue to position our town on the world map of year-round destinations with a diverse offer, and we believe in further tourist growth. “points out Petar Razović, director of the Hvar Tourist Board. More than 600.000 readers around the world participated in the selection of the best through various categories. The best hotels and resorts, airlines, villas, spas, airports, cruisers and tour operators, cities and islands were chosen. “We are extremely proud of the recognition we received. Being in such a selected company is a confirmation of year-round flawless work and providing services in accordance with the highest standards in tourism. I am extremely honored that the hotel guests recognized this and voted for us at this year’s Readers’ Choice Awards, ”  said hotel director Igor Tabak. In the category of resorts, the hotel Amfora from Hvar took the title of one of the 30 best resorts in Europe.  Photo: Sunny Hvar The world’s leading travel magazine Condé Nast Traveler has published the results of the Readers ’Choice Awards. The island of Hvar received another international recognition, a great award from the readers of the renowned magazine Condé Nast Traveler, whose votes ranked it at the very top of the best islands in the world and brought the title of the best island in Europe! The island of Hvar was named the best island in Europe in 2019. Hotel Amfora is located in a quiet bay near the center of Hvar with an unobstructed view of the Paklinski islands, which makes it a unique resort on the island of Hvar. Recognized for its spectacular cascading pool and diverse offerings, it is an ideal choice for couples, families and holding business meetings, congresses, conferences and exclusive events, writes Condé Nast Traveler.last_img read more

first_img“What the boys did so far is exceptional but it is not over,” said Klopp.”We did not expect the number of games we won. It was never easy and it will never be easy, so now let’s carry on.”Klopp has long been an advocate of a winter break amid the gruelling English campaign to give his players a chance to rest and recuperate.But a two-week break earlier this month appears to have disrupted the Reds’ rhythm. Liverpool manager Jurgen Klopp insisted the title is not won yet after his side were beaten for the first time in 45 games in the Premier League as Watford thrashed the European champions 3-0 on Saturday.Klopp’s men still enjoy a 22-point lead at the top of the table and need a maximum of four wins from their remaining 10 games to secure a first league title for 30 years.However, defeat at Vicarage Road continues a downturn in form as they sneaked past relegation-threatened Norwich and West Ham in their two previous league games and lost the first leg of their Champions League last 16 tie to Atletico Madrid. “Shape, form is not something we can take for granted. We fought against each every feeling in the body. We fought against everything and that’s why we have that amount of points,” added Klopp.”The biggest surprise for me is that Watford is fighting to stay in the league. Now is the moment when everybody is fighting like crazy.”We don’t think it is the biggest catastrophe in world football. We feel the defeat really and now we have the chance to show the reaction again.”Ismaila Sarr was the star for Watford as the Senegalese struck twice in six minutes at the start of the second half and then teed up Troy Deeney to add a third.The comprehensive scoreline had the added bonus of edging Watford out of the relegation zone by one goal ahead of Bournemouth.However, after slipping back into the bottom three following a fine start to his reign, Hornets’ boss Nigel Pearson is all too aware of the importance of backing up a famous win for the remainder of the season.”It’s such an important win for us. But it is one win,” said Pearson.”They are such an outstanding side, we had to get our performance right and I thought we thoroughly deserved the win.”We threatened with the ball and defended with discipline, energy and commitment. That’s been the message from day one.”It’s in our own hands, and we have to deliver that performance week in, week out.”Topics :last_img read more

first_imgLegal & General – L&G’s bulk annuity and longevity insurance business has appointed John Towner in the new role of head of origination. He joins from Redington, where he advised both pension trustee boards and corporate sponsors on their investment, funding and risk-management strategies. Before then, he worked at Barclays Capital and Deutsche Bank.Mercer – Uwe Buchem has been named business leader for retirement at the consultancy’s German, Austrian and Swiss (DACH) business. He is replacing Mercer’s regional chief executive Achim Lüder, who stepped down from the role to focus on his other responsibilities. Buchem joined Mercer in 2002 and, in 2004, was promoted to market leader for Germany for health and benefits. He began his career at insurance group Debeka and internet insurance business Censio.Monument Group – The investment fund placement agent has appointed Karl Adam as director in the London office. He will have investor coverage responsibility for German-speaking Europe and some UK-based investors, focusing on building relationships with new institutional investors and general partners in the region. He joins from Citi Private Bank, where he was vice-president. Aviva Investors – Louise Kay has been appointed global head of sales. She will be responsible for leading global sales efforts across institutional and wholesale, including global consultants. Kay has held senior roles at Standard Life Investments and Aegon Asset Management UK.KNEIP – Keith Dingwall has been appointed to the new role of head of new business. Before joining KNEIP, he worked for 13 years at State Street Bank and International Financial Data Services in Luxembourg. Before then, he worked for a decade in JP Morgan Asset Management’s operations in the UK and Luxembourg.Pemberton – The independent asset management group, backed by Legal & General and focused on private debt and direct lending, has appointed Jürgen Breuer to head its operations in Germany, Austria and Switzerland. Breuer previously established and led leverage and acquisition finance businesses for Dresdner Bank and West LB in Germany.Comgest – Arnaud Cosserat has been appointed CIO, succeeding Vincent Strauss, who will remain chief executive at the asset manager. Cosserat joined Comgest in 1996 as a portfolio manager covering European equities. He has spent the past two years in the position of deputy CIO.Kames Capital – Mark Benbow has been appointed to the fixed income team as an investment analyst. He joins from Scottish Widows Investment Partnership, where he was an analyst on the global equities team.Invesco PowerShares – Michael Huber has been appointed to the newly created role of business development director for Germany and Austria. Previously, he covered institutional clients for Luxembourg-based asset manager Assenagon. He has also worked at Goldman Sachs Group. ING Investment Management, Cardano Risk Management, Schroders, KAS Bank, Aegon Asset Management, Legal & General, Redington, Mercer, Monument Group, Aviva Investors, KNEIP, Pemberton, Comgest, Kames Capital, Invesco PowerSharesING Investment Management – Bart Oldenkamp has been appointed to the Integrated Client Solutions team at ING IM, soon to become NN Investment Partners. The manager said Oldenkamp would focus on strategic business development, working with institutional clients as well as the investment management teams to “optimise” ING IM’s solutions offering. He joins from Cardano Risk Management, a specialist risk and investment management boutique based in the Netherlands and the UK, where he was a member of the management board. Before then, he held various positions at ABN Amro Asset Management in Amsterdam and Chicago.Schroders – Theo van der Meer has been appointed senior adviser in the Netherlands. He will focus on providing specific pension scheme guidance and governance to Schroders’ institutional clients in the region. Prior to joining Schroders, he held the position of managing director within global distribution at Barclays in London. He has also held senior roles at Fidelity, Vanguard, NIB Capital, Robeco and AMRO Bank.KAS Bank – The custodian has appointed Alexander van Ittersum as market manager for the pension fund markets in the Netherlands, Germany and the UK. His responsibility is to increase activities in core markets by identifying market trends and customer needs, and translating them into new products. Before joining KAS, Van Ittersum worked at Aegon for six years, initially as product development manager with Aegon Global Pensions’ cross-border asset pooling, and later as proposition manager with Aegon Asset Management. Before joining Aegon, he was product manager for Robeco and relationship manager at Euronext.last_img read more

first_img“In addition, the MiFID II portfolio manager or its third country sub-adviser which operates an RPA must be able, at all times and based on its own internal allocation/budgeting process, to identify vis-à-vis its own clients the amount spent on research with a particular third country broker-dealer.”In a related announcement today, the US regulator confirmed that US-based asset managers and broker-dealers would not be in breach of US law when complying with MiFID II’s cost unbundling requirements.The Securities and Exchange Commission (SEC) said it would grant a 30-month window for managers to find a way to unbundle research costs from trading costs for European clients, while still complying with US rules.In the US, asset managers usually pay for brokerage services and research through a “bundled” commission payment, which runs contrary to MiFID II rules. Investors had expressed concern that they could lose access to “valuable” research, the SEC said.SEC chairman Jay Clayton said the “no-action relief” was designed in conjunction with European regulators and the European Commission.The SEC said in a statement: “Subject to various terms and conditions: broker-dealers, on a temporary basis, may receive research payments from money managers in hard dollars or from advisory clients’ research payment accounts; money managers may continue to aggregate orders for mutual funds and other clients; and money managers may continue to rely on an existing safe harbour when paying broker-dealers for research and brokerage.”During the 30-month period, which begins on 3 January when MiFID II is implemented in Europe, SEC staff will monitor the impact of the European rules in order to decide on what (if any) longer-term action is needed.Andrew Bailey, chief executive of the UK’s Financial Conduct Authority (FCA), said: “In supervising the MiFID II inducements and research provisions, and cross-border practices by firms in this area, the FCA will focus on ensuring investors’ interests are advanced.“Arrangements which comply with MiFID II and other jurisdictions’ rules, while enabling EU firms’ continued access to research produced by US and other non-EU jurisdictions, are likely to be the best way of serving investors.”According to IPE’s list of the biggest 120 managers of European institutional assets, 54 are based partially or wholly outside of the EU in countries such as the US, Switzerland, Canada and Australia. Non-EU managers can continue to bundle trading costs and research costs as long as the two are distinguishable from each other, the European Commission has said.The Commission today published guidance detailing how MiFID II rules on the provision of investment research would apply to non-EU managers with clients inside the bloc.In a statement, Valdis Dombrovskis, the Commission’s vice-president for financial services, said the guidance would provide “greater clarity” on the new requirements.The guidance states: “The MiFID II portfolio manager or its third country sub-adviser which operates a [research payment account, or RPA] is responsible for managing its research budget based on a reasonable assessment of the need for research and subject to appropriate controls, which include maintaining a clear audit trail of payments made to research providers.last_img read more

first_imgItalian oil and gas major Eni has started drilling what is reportedly the first-ever deepwater offshore exploration well in Oman’s waters. Drillship Pacific Bora in Singapore waters; Source: Wikimedia; Author: Jacklee – under the CC BY-SA 3.0 licenseAccording to media reports earlier this week, Eni has started drilling Oman’s first deepwater offshore well.Sources have confirmed to Offshore Energy Today that the Italian company had indeed started its drilling operations in Oman. However, no further details have been provided.What we do know is that Eni late last year hired the Pacific Drilling-owned drillship, Pacific Bora, for one firm well in Oman. The duration of the well was estimated at 30 days. The contract included a $5 million mobilization fee and a $5 million demobilization fee and it provided for one option well.Further, the contract was scheduled to start in February and end in March 2020 with a dayrate of $190,000. The 2010-built drillship also previously worked for Eni offshore Nigeria under the dayrate of $150,000.When it comes to Eni’s offshore presence in Oman, the company is the operator of Block 52, which is an underexplored area with hydrocarbons potential located offshore in the southern region of Oman. Block 52 has an area of approximately 90,000 km2, with water depths ranging from 10 to over 3,000 meters.The Government of the Sultanate of Oman, Oman Oil Company Exploration and Production (OOCEP), a subsidiary of state company Oman Oil Company SAOC (OOC), and Eni entered into an exploration and production sharing agreement for Block 52 back in November 2017.  Eni holds a 55% stake in the block while its partners Qatar Petroleum and OOCEP hold a 30% and 15% stake, respectively.Offshore Energy Today StaffSpotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product, or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.last_img read more

first_imgInvestigate Daily 7 June 2020Family First Comment: Ian Wishart is asking all the right questions….“Investigate asked the Drug Foundation to disclose whether any money has come from foreign donors: “Can you please confirm that 1) you know the identity of all donors to the foundation, as required by law, and 2) how much money has been donated to your organisation since 1 April 2020, and 3) how much of that money since 1 April has come from overseas donors and 4) what are the identities of those overseas donors?” We also sent texts to Drug Foundation director Ross Bell’s phone. To date, there has been no response.Bell has previously taken tens of thousands of dollars in funding from overseas foundations directed by billionaire George Soros – a huge advocate for commercially selling marijuana.Other candidates include NZ-based big businesses that stand to make a financial killing if cannabis is legalised – companies like Helius Therapeutics.Investigate sent a text to Helius director Joseph Schmidt: “We are just running a story on the cannabis referendum and the important community value placed on transparency these days. How much money if any has Helius donated to the NZ Drug Foundation?” Again, only silence.So the question remains: is it acceptable in a 2020 election for shadowy foreign groups to “buy” referendum results in New Zealand?According to the Green Party, who have been heavily pushing the cannabis legalisation, a news release last December says “No”: “The Green Party welcome a law change to help protect our democracy from the influence of powerful vested interests by banning foreign donations of more than $50, Justice spokesperson Golriz Ghahraman said today.Are secret foreign groups and commercial cannabis barons interfering in New Zealand’s election this year by funneling massive currently-hidden donations through a taxpayer-funded charity?That’s the uncomfortable question being asked as the New Zealand Drug Foundation goes silent on where the money has come from to bankroll the hugely expensive TV, radio, newspaper and social media pushing a ‘Yes’ vote for cannabis legalisation.The campaign, one of the most expensive advertising sprees outside of the Government’s Covid-19 alerts, has burst onto TV screens, full page front page newspaper ads and social media, pushing cannabis legalisation “on our terms”. Set to run from 2 June until the referendum on 19 September, the campaign is estimated to cost millions – far in excess of the organisation’s $2 million budget, mostly provided by the government.The Drug Foundation at the weekend confirmed to a Facebook question that the massive advertising spend has not been funded by taxpayer money:“No taxpayer funding is used for this campaign. As a charitable trust, we also receive private grants and donations which are funding the ‘vote yes’ campaign.”Although the Drug Foundation is audited by the Charities Commission, it is not legally required to disclose its donations for the year to June 30, until 31 December 2020, and if the advertising is on standard commercial terms it won’t be payable until 20 July 2020, meaning the millions of dollars to pay for it wouldn’t have to be received by the Drug Foundation until July, meaning New Zealanders would legally have to wait until 31 December 2021 to find out who bankrolled the pro-Cannabis campaign.Investigate asked the Drug Foundation to disclose whether any money has come from foreign donors:READ MORE: https://investigatemagazine.co.nz/28234/election-tampering-nz-pro-cannabis-referendum-campaign-funded-by-secret-foreign-donors/last_img read more