The proposal of the Law on Maritime Property and Seaports was presented

first_imgAs the goals of the new Law on Maritime Property and Seaports, which was presented today at the session of the Tourist Business Council of the Croatian Chamber of Commerce by State Secretary in the Ministry of the Sea, Transport and Infrastructure Maja Markovčić Kostelac, the need for maritime property as a specific concession object was clarified. which meet investors-concessionaires and potential concessionaires in practice and respect for the maritime domain as an ecologically and touristically important element of Croatia’s identity in Europe and the world. “We have high expectations from this law, as well as from the Law on Tourist Land, as the flywheel of a new investment cycle in tourism. Currently, the law in some segments does not take into account the situation on the ground, and there is a legal mess regarding concessions because it is not harmonized with the Law on Concessions. Another problem we face is of a land-book nature. Based on the views received so far by the members of the Croatian Chamber of Commerce on the draft law, there are opposing views, but we hope that, guided by the principles of economic efficiency and sustainability, we will reach a compromise., “Said the Vice President of the Croatian Chamber of Commerce for Agriculture and Tourism Dragan Kovačević, emphasizing that the Croatian Chamber of Commerce will submit the collected opinions to the Ministry and that from now on the sessions of the Tourist Business Council will be thematically conceived with regard to current segments of the tourism sector.State Secretary Maja Markovčić Kostelac pointed out the Law on Maritime Property and Seaports as the most important for economic development and preservation of the sea and coast as the most important resources, along with the Maritime Code and the Law on Harbor Master’s Offices as a remnant of the Ministry’s legislative framework. announced the recent opening of a public hearing on the proposal.Hotel & Marina Nautica, Novigrad / Photo: Photo: Ziga Intihar”With the proposal of the Law, we want to increase the competitiveness of the economy, reduce administrative barriers and achieve a balance in all this, given the need for simultaneous protection of resources. The zero point in this is the determination of the border of the maritime domain and the acceleration of the process of registration of the maritime domain. The new Act sets a three-year deadline for determining the maritime domain boundary for the entire coast. Competence for determining the border is transferred to the units of regional self-government, and an urgent procedure for registration is prescribed, “Said Markovčić Kostelac.Markovčić Kostelac also touched on the issue of illegally constructed buildings on the maritime domain, which the goal is to legalize if they are not contrary to the spatial plan of a certain area. She also pointed out the maritime inspection as one of the weak points, whereby the new law would expand the powers of the existing inspection, and give new ones to communal and port wardens.For the economic use of maritime property, two institutes are established, concessions and permits. Markovčić Kostelac pointed out the possibility of introducing only a permanent part of the concession fee for individual concessions, and based on the conducted zoning of the coast, the initial amounts of the concession fee for each individual economic activity and zone will be determined. Revenues from licenses on the maritime domain are divided equally in half With the aim of raising the competitiveness and efficiency of ports open to public traffic, the Port Authority becomes responsible for the direction and traffic of cargo and passengers with the basic goal of economic growth of the port it manages. Investments in the port should be exempted from paying the utility fee by the new Law, and in terms of revenues from the concession fee, the fee for maritime property paid by boat owners for personal needs would be abolished. Revenues from the concession fee would be divided as follows: 35% in favor of the budget of the local self-government unit, 35% in favor of the regional self-government, and 30% in favor of the state budget. Revenues from licenses on maritime domain are divided so that 50% goes to the budget of the local unit, and 50% to the budget of the regional self-government. After the presentation of the bill, during a discussion with representatives of the tourism sector, State Secretary Markovčić Kostelac pointed out the issue of granting concessions for beaches as allocating a large area to one business entity can have a negative effect on the rest of the economy and the whole place.Representatives of the sector, specifically hoteliers and camp owners, pointed out that the beach directly in front of the facility is a key part of their offer and maintaining the desired categorization. As one of the solutions, they proposed the introduction of the right to a certain advantage to the concession, and pointed out the problem of expiration of concessions, where representatives of hoteliers and camps proposed that in upcoming tenders can be valued concessionaires who have previously managed certain maritime assets and invested into him.last_img read more

Far from the madding crowd

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

Cesc Fabregas singles out Bukayo Saka for special praise in Arsenal’s draw with Man Utd

first_imgAdvertisement Cesc Fabregas singles out Bukayo Saka for special praise in Arsenal’s draw with Man Utd Comment Advertisement Saka celebrates after setting up Aubameyang’s equaliser at Old Trafford (Picture: Getty)The youngster – who scored and assisted twice in the Europa League against Frankfurt – had Arsenal’s best chance of the first half, prompting a fine double save from David de Gea, and could have scored in the second.AdvertisementAdvertisementADVERTISEMENTHe appeared to have the beating of veteran Ashley Young throughout, with his pace threatening constantly, while he assisted Pierre-Emerick Aubameyang’s equaliser – and Fabregas believes his old club might have unearthed a gem.‘Saka is a player. Eighteen years old and showing great maturity,’ he tweeted, also posting a clapping hands emoji.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityWhile Fabregas was excited by what he saw from Saka, he seemed decidedly less impressed with the quality on show from both teams in what was a largely uninspiring match lacking in quality.‘Thoughts on the game so far without using a bad word? Try to be creative,’ he added.18y 25d – Bukayo Saka is the youngest player to ever start a @premierleague match between Manchester United and Arsenal. Stage. #MUNARS— OptaJoe (@OptaJoe) September 30, 2019center_img The youngster was a real bright spark for the Gunners at Old Trafford on Monday (Picture: AFP)Former Arsenal midfielder Cesc Fabregas was quick to praise the precocious talent of Bukayo Saka in a largely uninspiring performance for the Gunners in their draw with Manchester United.Unai Emery’s side went behind on the stroke of half-time to a ferocious Scott McTominay strike, with the quality of the goal in stark contrast to the sub-par play that had preceded it.Both teams seemed to struggle in the wet and slippery conditions at Old Trafford on Monday night, but the 18-year-old Saka was a rare bright spark for the visitors. Metro Sport ReporterMonday 30 Sep 2019 10:02 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link911Shares Things certainly livened up in the second period, with Aubameyang latching onto a neat pass from Saka and levelling the scores after his effort had initially been ruled out for offside by the linesman – though VAR showed he was clearly onside.The game became more open-ended after Aubameyang’s equaliser, with United pressing to try and find a winner, though the spoils were shared; the result moves Arsenal up to fourth, while United are in 10th place.More: Manchester United FCRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseEx-Man Utd coach blasts Ed Woodward for two key transfer errorslast_img read more

Governor Wolf Announces Shell Cracker Plant Coming to Pennsylvania

first_img Economy,  Jobs That Pay,  Results,  Statement Harrisburg, PA – Governor Wolf released the following statement after he was notified by Shell that they would build their ethane cracker plant in Pennsylvania:“Over the past four years, the Commonwealth of Pennsylvania has worked with Royal Dutch Shell to finalize plans to construct an ethane cracker plant in Western Pennsylvania, and this morning I was notified that Shell has taken the final step to move ahead with this game-changing plant and create thousands of jobs in Pennsylvania.“The commonwealth began its efforts on this project in 2012, and I would like to thank former Governor Tom Corbett and his Secretary of Community and Economic Development C. Alan Walker for all of their efforts to bring the plant to Western Pennsylvania.“Since first taking office, I have worked in close collaboration with my Secretary of Community and Economic Development Dennis Davin, the Pittsburgh Regional Alliance, local officials in Western Pennsylvania, and Royal Dutch Shell to make the proposed plant a reality. The commonwealth engaged the company with the goal of creating jobs, spurring economic development, and taking the next steps to connect the energy industry with long-term, sustainable economic growth.“My administration is committed to creating jobs in the energy industry through responsible, well-regulated extraction and long-term, creative industrial growth. We have worked to develop strategies for safe and responsible pipeline development that brings resources to markets and facilities and we have prioritized the Shell plant to show the world that Pennsylvania is a leader in energy manufacturing and downstream production.“The success of this project is part of a much-needed, longer term plan to translate our abundant resources to make Pennsylvania a leader in downstream production. The commitment of the Shell cracker plant in Western Pennsylvania is an important step toward this goal.“This critical effort spanned four years, and two administrations, and today I want to congratulate all of those involved, including both Republican and Democratic officials, and thank Royal Dutch Shell for providing this unique and exciting economic development opportunity to the people of Western Pennsylvania.”# # #Like Governor Tom Wolf on Facebook: June 07, 2016 Governor Wolf Announces Shell Cracker Plant Coming to Pennsylvaniacenter_img SHARE Email Facebook Twitterlast_img read more

Gold Coast unit block attracts plenty of interest

first_img109 Seagull Ave, Mermaid Beach. 109 Seagull Ave, Mermaid Beach.A MERMAID Beach unit block is attracting plenty of interest among potential developers.Agent Peter Howarth of John Henderson Professionals Mermaid Beach said the 558sq m property at 109 Seagull Ave was within 150m to the beach.“We have more than 200 inquiries, four expressions of interest and two offers already,’’ said Mr Howarth.“The land area is oversized for Mermaid Beach and it has a wide 32m street frontage on Heron Ave and 17m street frontage on Seagull Ave.”More from news02:37International architect Desmond Brooks selling luxury beach villa17 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago109 Seagull Ave, Mermaid Beach.“Subject to council approval, you could design four, three-storey villas on the site, with all potentially have water views along Heron Ave.”Mr Howarth said the corner block was currently home to four strata-titled units, but they were now being sold in one line.“There is one, two-bedroom unit and are three one-bedroom units in the existing building,’’ said Mr Howarth. “This means the buyer will have a holding income while they develop plans for the site.”last_img read more

Varma ploughs €200m into ESG-themed ETF

first_imgCredit: Rachel FixsenVarma’s head office in Helsinki, Finland“Alternatives are needed for exclusion-based products,” said Sallinen. “Many investors on their own may lack the resources to thoroughly look into companies for exclusion purposes.”The index that the ETF is based on uses the expertise of a five-person sustainability advisory committee to help construct the portfolio. The committee includes Tomas Franzen, former chief investment strategist at AP2, and Gustaf Hagerud, a former deputy chief executive of AP3.Vesa Syrjäläinen, responsible investment analyst at Varma, also sits on the panel.LGIM said that, guided by the committee, the fund would exclude companies that become less responsible but also account for those firms that become more responsible, which might otherwise be missed by static or sector-based exclusion policies. Varma’s move follows a similar investment by fellow Finnish pension insurer Ilmarinen, which had a hand in developing its own ESG ETF. In May, it invested €750m in an ETF it worked on in collaboration with iShares, with the fund subsequently listed on the US stock market. Ilmarinen has also developed ETFs with Lyxor and DWS. Finnish pensions insurer Varma has invested €200m in a European equity exchange-traded fund (ETF) it helped develop and whose exclusions will be guided by a largely Nordic committee.The €45.8bn pension insurer said the ETF – the L&G Europe Equity (Responsible Exclusions) fund, listed on the London Stock Exchange – was created jointly with Legal & General Investment Management (LGIM) and index investment company Foxberry. Timo Sallinen, senior deputy president of investments at Varma, said: “We could not find an investment product that suited our ESG criteria for responsible investment, so we decided to develop one in collaboration with LGIM and Foxberry.”Varma said the new fund would select investments based on how well companies take into account environmental, social and governance issues in their operations. The fund will also exclude all tobacco and weapons companies, as well as firms that produce high emissions or hold significant fossil fuel reserves. The pension provider also said the new fund would exclude all companies that have breached international agreements or committed human rights violations, such as through the use of child labour.last_img read more

UK universities scheme deficit climbs to £13bn with COVID-19 impact

first_imgTotal assets under management, which include its defined contribution section, amounted to £67.6bn at 31 March 2020. The scheme’s funding ratio fell from 93% to 84% over the year to the end of March.Over a five year period, investment returns for the scheme’s DB fund averaged 6.19% per annum, outperforming the strategic benchmark by 0.91%, USS reported. Bill Galvin, USS group chief executive, said: “Even before COVID-19, historically low interest rates, increased life expectancy, greater regulation, and volatile financial markets had already made promises of a set retirement income for life more expensive.“The depth of the economic shock brought about by the pandemic has highlighted the long-term challenges facing open DB pension schemes like USS; challenges that we intend to work with our stakeholders – Universities UK and University and College Union – to address through the ongoing 2020 valuation.”The 2020 valuation, which will have a strike date of 31 March, will involve revisiting the funding assumptions used in the 2018 valuation, which resulted in contribution increases starting from last October.Earlier this month Galvin wrote to USS’s sponsors to update them about the financial development of the scheme, noting that the joint negotiating committee was likely to face “difficult decisions in the autumn and over the course of the 2020 valuation”.This was on the basis of financial monitoring figures for May and April, which Galvin said showed that “events have not moved in our favour”.Its most recent monitoring figures showed that if market conditions at the end of June were read directly into the 2018 valuation’s assumptions, the technical provisions deficit would be £20.2bn, the self-sufficiency deficit £34.4bn, and the future service cost 40.1% of USS payroll.The £12.9bn deficit that USS reported today is on a technical provisions basis and based on monitoring of key financial measures since the 2018 valuation. The contributions payable to the scheme are determined based on the full actuarial valuations only. Covenant considerationsMatthew Harrison, managing director at Lincoln Pensions, said the magnitude of the projected 2020 deficit for USS was very significant.“It has often been argued that this is a sector where the longevity of the Russell Group institutions, which underpin the USS covenant, is such that deficit recovery periods could be lengthened beyond those typically seen for stronger employers in other sectors,” he said. “However, any such extension of the recovery plan period for USS would need the regulator to acquiesce and this could set an interesting precedent in a post COVID-19 environment.“Many universities have large asset bases, but for paving the way for asset-rich universities to use their balance sheets to provide enhanced security to USS members is likely to require some innovative thinking given the sector-wide nature of the covenant.”Established in 1974, USS has almost 460,000 members across 340 higher education institutions.Citing research from the Pension Protection Fund, USS said it accounts for a third (34%) of the people still actively paying into private DB schemes that remain open to new members, and almost a fifth (18.4%) of the people still actively paying into private DB schemes.Looking for IPE’s latest magazine? Read the digital edition here. The estimated funding deficit of the UK’s Universities Superannuation Scheme (USS), the UK’s largest private pension fund, grew to £12.9bn (€14.3bn) as at the end of March 2020 on the back of further falls in interest rates following the outbreak of the coronavirus pandemic.This is more than double the deficit at this time last year, which was recorded at £5.7bn.The estimated value of USS’s defined benefit (DB) liabilities on a monitoring basis climbed by 9% during the year under review, from £72.8bn to £79.4bn, according to its annual report and accounts released today.Assets in the DB fund fell by £900m to £66.5bn over the year following performance of -1.7%, compared with -5.4% for the scheme’s benchmark.last_img read more

Queenslander wins national auctioneer championships

first_imgVideo Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow to bid at auction for your dream home? 01:45Queensland may have lost the State of Origin, but it was a local who hammered the competition at the national auctioneering competition.Justin Nickerson of Apollo Auctions beat competitors from across the country to win the title of 2019 Australasian Real Estate Institutes’ Auctioneering Champion. But it is not the first time Mr Nickerson has brought home the trophy.“Justin went back to back in 2016 and 2017 and his win in 2019 has equalled the record of New Zealand’s Mark Sumich for the most amount of titles,” Real Estate Institute of Australia (REIA) president Adrian Kelly said. “He is also a four-time winner of the REIQ Auctioneer of the Year award and his understanding of the auction process give him the upper hand.” Australasian auctioneer of the year Justin Nickerson. Picture: Zak SimmondsMr Nickerson was announced as the titleholder at the REIV Awards for Excellence dinner in Melbourne last night, after a tight contest between five auctioneers — Jenna Dunley (ACT), Luke Banitsiotis and Leon Axford (both from Victoria) and Clarence White from New South Wales. “The standard of the finalists was exceptionally high and the competition was very close. It is especially pleasing to see our event grow stronger each year and the diversity of talent Australasia has to offer,” Mr Kelly said. “A highlight of this year was to have a female finalist for the very first time.” The 2019 Australasian Auctioneering Championships, hosted by the Real Estate Institute of Victoria (REIV) and Real Estate Institute of Tasmania (REIV), test an auctioneer’s skill and ability to command a crowd, manage any issues at the auction and call complex bidding offers.More from newsParks and wildlife the new lust-haves post coronavirus11 hours agoNoosa’s best beachfront penthouse is about to hit the market11 hours agoJudges decided on a winner after the five finalists were tasked with “mock-selling” a property in St Kilda under the hammer. Open to the public, the annual Australasian Real Estate Institutes’ Auctioneering Championships hosted 22 auctions over two days.REIQ CEO Mercorella said the win was testament to Nickerson’s superior skills, attention to detail and high-level endurance.“Justin is a once-in-a-generation auctioneer and is certainly deserving of being crowed Australasia’s best,” she said.Queensland was also represented by David Holmes of Metro Auctions, who entered the competition for the first time this year.last_img read more

Hill Head to Portsmouth Harbor Beach Management Plan

first_imgThe Eastern Solent Coastal Partnership (ESCP) has announced that it is working on a Hill Head to Portsmouth Harbor Entrance Beach Management Plan (BMP) Study.The River Hamble to Portchester Strategy identified a 10km stretch of coastline in Fareham and Gosport as a key area for beach management.The ESCP has successfully applied to the Environment Agency for funding to develop this Beach Management Plan (BMP) which will build on the Strategy.According to ESCP, the BMP extends from Hill Head to the western tip of Portsmouth Harbor Entrance and includes Lee-on-the-Solent beach, which underwent works in 1997 (rock groynes and beach nourishment), and other key areas such as Hill Head and Stokes Bay, which have had smaller interventions in response to erosion issues.However, sustainable beach management benefits from a broader and more strategic approach and the ESCP is now developing a BMP study to reduce erosion and flood risk, and maintain the recreational benefits that the beach offers, reported the partnership.ESCP also added that a key element of this is to analyse the coastal processes over the BMP frontage and wider area, informed by 14 years of survey data.Full environmental consideration will be given when making recommendations for future operational phases of the BMP.last_img read more

Honda Manufacturing of Indiana names new president

first_imgGreensburg, In. — Honda Manufacturing of Indiana, LLC (HMIN) announced that Isao Matsuzaki is the company’s new president, effective April 1, 2018. As president, Matsuzaki is responsible for overall operations at HMIN.Matsuzaki most recently served in the production operation division at the Honda Motor Company, Ltd., Saitama Factory in Japan. He has been with Honda for 31 years, starting his career as an engineer at the Suzuka Factory, also in Japan. Matsuzaki’s career with Honda includes several assignments at Honda Automobile Thailand Manufacturing and in body plant and production planning.Matsuzaki replaces Bob Nelson as president. Nelson will move to Honda of America Manufacturing (HAM) in Ohio, as senior vice president and regional division manager of the North America E-Planning Division. Nelson joined HMIN as president in 2013.During Nelson’s tenure as president at HMIN, the Greensburg plant launched the new model Civic Sedan and CR-V, the first SUV built at the plant since it began production in 2008. Civic and CR-V are Honda’s two best-selling vehicles.last_img read more