Seeing things Wiseman’s way

first_imgThree filmmaking luminaries will give the Charles Eliot Norton Lectures this year, with legendary documentarian Frederick Wiseman delivering the first of a two-part talk on Monday. Agnès Varda, whose most recent film, “Faces Places,” earned her an Oscar nomination this month, and Wim Wenders (“Paris, Texas,” “Wings of Desire”) will follow in late February and early April, respectively. Hosted by the Mahindra Humanities Center, the “Wide Angle” lectures celebrate the trio’s contributions as artists and activists.Wiseman will arrive on campus having just signed an agreement with Kanopy, a free streaming platform for libraries and universities, to add his 41 films to the catalog this spring. The deal was hailed by Haden Guest, director of the Harvard Film Archive, which will screen work by Wiseman, Varda, and Wenders over the next three weeks.“Wiseman’s films need to be seen, especially by those who need to learn about the most basic institutions that change our world,” said Guest. “Anyone studying medicine should see ‘Near Death.’ Anyone teaching at a university should see ‘At Berkeley’ — not just film students — and see how necessary and urgent they are.”Wiseman, who splits his time between Cambridge and Paris, has long trained his lens on the workings of institutions, from hospitals to community centers to the military. Freedom from corporate or commercial interests has allowed him to create documentaries that run as long as six hours. His latest film is ‘Ex Libris — The New York Public Library.’“On one level, he is an extraordinary artist,” said Guest. “On another he’s a sociologist, an advocate for transparency, for the truth. He refuses voice-over or added music — all the things that are shorthand to make difficult topics palatable for audiences. Wiseman refuses all of that. He shows us how to look and watch and act and be more engaged.”Q&AFrederick WisemanGAZETTE: Happy belated 88th birthday. You seem as busy as ever. What are you working on?WISEMAN: I am trying to direct a play in Paris next year. And I am working on another documentary. The play, called “The Realistic Joneses,” is by Will Eno, an American playwright. His work has never been performed in France. I have directed several plays in Paris: “Happy Days” by Samuel Beckett, “The Last Letter,” based on a chapter of Vasily Grossman’s “Life and Fate,” and “The Belle of Amherst” by William Luce. I’ve always been interested in the theater so why not give it a whirl? I try to make my own good times.GAZETTE: You made news recently with the announcement of a deal with the streaming service Kanopy, which will make your films free to library card holders. A writer at Slate described the deal as the “cinephile equivalent of the Beatles arriving on iTunes.” What prompted this decision?WISEMAN: (Laughs) I’m flattered by the comparison, as an admirer of the Beatles. Kanopy approached me and it sounded like a good arrangement. It’s a good way to reach the university and library market. Response has been positive, and I’m glad the films will be available to people who haven’t yet seen them. It’s in my interest to have the market as large as possible, not only because I want people to see the films, but this method of distribution is a source of income.GAZETTE: “Ex Libris,” which came out last year, is the 41st film in a canon largely focused on institutions. What drew you to the New York Public Library?WISEMAN: I really didn’t know much about what libraries in general were doing until I spent 12 weeks at the New York Public Library. I was amazed at the depth and levels of services offered. Some sequences in the film deal with their efforts to digitalize their collections of books, paintings, photographs, and various other archival collections. What moved me most was the library’s effort to reach the different communities they serve. The diversity, range, and variety of programs and services offered — after-school tutorial programs, computer training, language instruction for recent immigrants, to name a few — was extremely impressive. The library is the great democratic institution, and every aspect of their work illustrated that. Someone says in the film: “Our job is to help people.” They do, and in so many different ways. All races, ethnicities, and genders are welcome.GAZETTE: What will you discuss in your Norton Lectures?WISEMAN: I’ll be talking about how I work during the shooting, editing, and post-production phases.,GAZETTE: What is your editing process?WISEMAN: In the filming, I just accumulate sequences. I find the structure and perspective in the editing. “Ex Libris” is three hours and 17 minutes in length. It took a year to edit. I have complete control over the content. Nobody sees the film until it’s finished.GAZETTE: You have been making films for more than 50 years, and speaking on college campuses for nearly as long. What do you make of today’s generation of aspiring filmmakers?WISEMAN: Sometimes I’m quite amazed at how little people have read or, when they show me their film proposals, how poorly they write. One way I make a living is giving talks at universities. It’s not uncommon that students haven’t read very much, and I don’t really understand that. I don’t know why they want to make movies if they are not familiar with the range of experiences and thoughts reading great writing can bring. How much can they have to say if they don’t have the experience of knowing how other people have written about our time or past times? The best training to become a filmmaker is to read the great poems, plays, and novels — not just study, but read and think deeply about them.This interview was edited for clarity and length.  Tickets are available starting at noon the day of each lecture. For more information on dates and times in this year’s program, click here.last_img read more

Customers and Partners Help Dell EMC Storage Finish Strong in 2018

first_imgi Gartner, Magic Quadrant for Distributed File Systems and Object Storage, Julia Palmer, Raj Bala, John McArthur, 18 October 2018 As 2018 comes to an end, we can all look back on it as a very successful year for Dell EMC Storage. It’s been a year jam-packed with new innovations, products, industry accolades and recognitions, and based on recent IDC Worldwide Enterprise Storage Systems Tracker data – now three quarters of share gain in a row. To achieve all of this, we came together throughout the year to execute as a unified company and bring outstanding products to market for our customers in support of their IT Transformation efforts. As a result, both channel partners and customers have recognized the excellence we bring in the development of Dell EMC Storage products.We thank our customers and partners for recognizing Dell EMC for what we deliver to you – innovative and rich feature/functionality, our best quality and reliability, and an industry-leading Future-Proof Loyalty Program – with every storage system we ship.And so, as we look back with pride on a transformative year at Dell EMC, I’d like to briefly share some of the 2018 highlights with you:Dell Inc. continues to capture share according to IDCToday IDC published its latest 2018 Worldwide Enterprise Storage Systems Tracker – a pivot table that provides market size and vendor share for hundreds of worldwide technology markets.As we talked about in our recent FYQ3 earnings, Dell EMC had a strong quarter in storage. IDC reported a 31.3% revenue share in external storage for Dell, Inc. – representing +23% year-over-year revenue growth and +2.6 points of y/y share gain. We believe our strong results in the tracker validates our track record of consistently delivering meaningful technology innovation to customers. In doing so, we can report with appreciation and pride that our storage business has achieved three quarters of consecutive share gain in the external storage systems product category.Dell EMC Storage systems win THREE CRN Product AwardsEach year CRN readers and editorial staff recognize the industry’s most innovative products in a variety of hardware and software categories. CRN also recognizes one vendor for overall excellence in technology innovation with its Editors’ Choice award. Winners are determined based on many factors including the CRN editorial board and a survey that’s sent to >4,000 solution providers who respond with direct satisfaction feedback among partners and their customers.We are pleased to announce that Dell EMC PowerMax has been named the overall winner of the 2018 CRN Product of the Year Award for storage and the 2018 CRN Technology Innovator Award for Enterprise Storage. But there’s more! CRN also named the Dell EMC Unity 650F All-Flash Array in its 2018 Product of the Year awards as the Midrange Storage subcategory winner for Technology.These product awards and overall recognition are testament to the best-of-breed technical innovation, feature/functionality, reliability and quality Dell EMC continues to deliver across our entire primary storage portfolio and affirms our commitment to invest in innovation for the future.SC5020 wins second Editor’s Choice in four monthsAgain, from our Midrange portfolio, the SC5020 secures yet another accolade for Dell EMC Storage with the 2018 Editor’s Choice from Storage Review. It’s the second year in a row the publication has selected an SC array for one of the coveted Editor’s Choice honors (SC9000 won in 2017). Plus, just this summer, the same SC5020 model was also the 2018 IT Pro Editor’s Choice. Industry acclaim for the SC Series is on the upswing! I encourage you to take a look at this detailed new Storage Review article that includes 30 charts and graphics highlighting SC5020’s phenomenal performance – as well as its “sleek” management capabilities running the latest 7.3 level firmware.Momentum for Dell EMC Isilon and ECSFor the third straight year, Dell EMC was recognized by Gartner as a leader in the 2018 Magic Quadrant for Distributed File Systems and Object Storage with its Dell EMC Isilon and Dell EMC ECS platforms. The report evaluates Distributed File and Object Storage vendors that help enterprises manage the rapid growth in unstructured data.Gartner, 2018 Magic Quadrant for Distributed File and Object StorageTo help organizations quickly ramp their AI efforts, we made some exciting announcements this year. For customers looking to leverage a pre-validated hardware and software stack for their Deep Learning initiatives, we launched the Dell EMC Ready Solutions for AI: Deep Learning with NVIDIA in August, which features Isilon All-Flash storage with Dell EMC PowerEdge Servers and Dell EMC Networking. More recently, we expanded our collaboration with NVIDIA by announcing a new reference architecture for AI featuring NVIDIA DGX-1 servers complemented with the high-performance of Isilon All-Flash storage. With a true scale-out architecture that enables high performance at PB-scale datasets, Isilon is the perfect storage platform for AI/Deep Learning initiatives.Executing on our portfolio strategyLastly, you’ve heard us say throughout the year that we need to deliver a streamlined storage portfolio that 1) is simple to understand – one product for each market segment and 2) delivers clearly differentiated products within their intended market segment – low-end to midrange to enterprise to the unstructured file and object storage segments. As Jeff Clarke Vice Chairman Products and Operations has stated, “An effective product development discipline and methodology and structure is when you streamline things for speed and velocity.” And that’s exactly what we’ve been focused on in 2018 and will continue through the next year.In 2018, we’ve successfully executed on significant portions of our portfolio simplification strategy to bring you Dell EMC PowerMax for your high-end enterprise storage needs and Dell EMC PowerVault for entry-level price-sensitive businesses. Even though these products have only been available for a relatively brief time, they are already demonstrating immense value for customers around the globe.PowerMax is off to a great start and is performing ahead of our expectations. We are winning for all the reasons that we planned: 1) NVMe done right proving that architecture matters when trying to deliver the best performance with predictability and data services; 2) PowerMax is surprising customers with its simplicity and access at lower price-points.In addition to PowerMax and PowerVault being off to strong starts, CloudIQ, our free cloud-based storage analytics and monitoring application, is becoming the umbrella over all our platforms. It has been affirming to myself and my team that feedback on our strategy is resonating well with customers, partners and analysts.Overall our strategy is working. Thank you – customers and partners alike – for helping to make 2018 a very successful year for Dell EMC Storage. Your business, loyalty, confidence, and partnership are things Dell EMC never takes for granted.I wish you and your families a very happy and healthy holiday season and New Year.last_img read more

The Observer announces 2020-2021 department heads

first_imgSix new and two returning department heads will complete The Observer’s 2020-2021 Editorial Board, incoming Editor-in-Chief Maria Leontaras announced Saturday.The eight editors will join Leontaras as well as incoming Managing Editor Mariah Rush and Assistant Managing Editors Maeve Filbin, Claire Rafford and Sara Schlecht in directing the editorial responsibilities of the paper.Juniors Hayden Adams, Ryan Israel, Mia Marroquin, Diane Park and Serena Zacharias and sophomores Ellie Dombrowski, Nelisha Silva and Allison Thornton will lead their respective departments beginning March 16.Adams will be filling the role of Sports Editor. A junior from Lexington, Kentucky, Adams is majoring in physics and film, television and theatre while pursuing a minor in Journalism, Ethics and Democracy. Now in his second year in the department, Adams has covered football, volleyball, fencing and hockey, as well as men’s and women’s basketball and soccer. He currently resides in Zahm House.Israel, a Stanford Hall resident hailing from Detroit, Michigan, and currently studying abroad in London, England, will take over as Scene Editor. A connoisseur of all things arts and culture, Israel has spent his time at the paper as a critic and reporter covering music, movies, television and campus events. Israel is majoring in sociology and television.Marroquin, a Holland, Michigan, native, will take on the role of Saint Mary’s News Editor. Marroquin is majoring in communication studies with minors in PR and advertising and Spanish. She has written for The Observer since her sophomore year and has covered a range of topics including Miss Kenya USA’s visit to the College, access to grief and loss support groups on campus and new dining services initiatives.Park has designed for The Observer since her freshman year and became the Graphics Editor last year. Continuing her position as department editor, Park is excited to contribute her creative background to The Observer. Studying industrial design, sociology and a minor in digital marketing, she hopes to lead new creative content with her design team.Zacharias, a native of Mequon, Wisconsin, will take over as Notre Dame News Editor. A neuroscience and behavior major and Journalism, Ethics and Democracy minor, Zacharias has written for the Notre Dame News department since her freshman year. Throughout her time with the paper, she has reported on a number of events, including co-founder of Black Lives Matter Opal Tometti’s visit to campus, the 2020 student body government elections and James Mueller’s mayoral election, in addition to writing features on a variety of topics such as Notre Dame low-income student admission experiences.Dombrowski, a New York City, New York, native, will serve as Social Media Editor. A program for liberal studies major, she has written for Viewpoint and served as the newsletter manager. As the newsletter manager, Dombrowski has covered a variety of topics, including the Iowa caucuses. She enjoys listening to The 1975, reading any and all books, cuddling with cats and drinking too much coffee. Dombrowski is currently a resident of Lewis Hall.Silva, a native of Las Vegas, Nevada, will take over as the Viewpoint Editor. She is majoring in English and global affairs, concentrating in civil and human rights, with a minor in the Hesburgh Program for Public Service. Silva currently works as a copy editor for the department and serves as the vice president of Pasquerilla West Hall. She will be studying abroad at Trinity College in Dublin during the fall semester.Thornton will be returning as Photo Editor. At Saint Mary’s she is studying environmental studies and anthropology and is a native of South Bend, Indiana. Thornton is currently studying abroad in Maynooth, Ireland. She has photographed many events during her time at the paper, including the Camping World Bowl football championship this past season.Tags: department editors, Editorial Board, Observer editorial boardlast_img read more

Tickets Now On Sale for The Library, Directed by Steven Soderbergh

first_img Show Closed This production ended its run on April 27, 2014 View Comments Ready to examine your relationship with the truth? Tickets are now on sale for the world premiere of Scott Z. Burns’ The Library. Directed by Oscar winner Steven Soderbergh and starring Chloe Grace Moretz, the off-Broadway show will play a limited engagement March 25 through April 27. Opening night is set for April 15 at the Public’s Newman Theater. After Caitlin Gabriel (Moretz) survives a deadly shooting at her high school, she struggles to tell her story to her parents, the authorities and anyone who will listen. But there are other narratives that gain purchase in the media and paint her in a different light. The play asks us to examine our relationship to the truth and the lies that claim to heal us. Acting in films since she was only five years old, Mortez’ credits include The Amityville Horror, Kick-Ass, Let Me In, Hugo, Dark Shadows, Carrie and Kick-Ass 2. She will soon be seen in The Equalizer, Dark Places, Laggies and If I Stay. The Library Related Showslast_img read more

Is compassion fatigue an issue for judges?

first_img June 1, 2004 Regular News Is compassion fatigue an issue for judges? Is compassion fatigue an issue for judges? Judge Michael A. Town “How do you deal with it?” “Isn’t it depressing?” “Doesn’t’s it eventually get to you?” Judges are asked these questions regularly. Folks know that most judges hear a variety of cases which are often emotional, sad, and at times, profoundly tragic. At the beginning of my judicial career, my response to such questions was that I not only enjoyed my job, but also found it important and interesting work. While that is certainly true, there is more. A recent study shows that these cases do take their toll on us and can also impact our families and friends. Repeatedly hearing cases involving child custody, divorce, child abuse, mental illness, homicide, and domestic violence do affect us in many ways. At times these cases resonate within us and can wear us out. Some judges, however, thrive on the energy of the courtroom and the issues and emotions generated. These judges serve for many years and find being a judge not only a true “calling” but engaging and rewarding.This article is about compassion fatigue and whether it is a real and palpable phenomenon for judges. And, if it is for those of us who wear the black robes and are surrounded by the accoutrements of our office, how must it be for the advocates, counselors, shelter workers, attorneys, and other court staff? What is it like for the broader community members who participate as litigants, jurors, and witnesses and hear the very same evidence?There is a substantial body of literature on compassion fatigue in social workers, police, and emergency relief workers. Interestingly enough, there is precious little written on the effect these cases have on the lawyers and judges who hear them. When I was asked by Dr. Peter Jaffee to contribute to an article to be published in the fall 2003 issue of the Juvenile and Family Court Journal about a study involving compassion fatigue and vicarious trauma in judges, I readily agreed. I am glad that I did. The process of collaborating and coauthoring the article with two psychologists and an experienced family law attorney provided me with insight and respect for the phenomenon of compassion fatigue in judges. I also came to respect those judges who persevered and even thrived in this often-stressful environment. The Study: What Does It Say? This may be one of the first studies of compassion fatigue in judges. My colleagues surveyed over 500 judges attending various domestic violence conferences across the country regarding the effect their court calendars had on them. One hundred and five judges responded (54 percent male and 46 percent female) and the results were significant and disconcerting, with 63 percent of the judges reporting one or more symptoms identified as work-related compassion fatigue. Judges with seven or more years of experience reported higher levels of externalized symptoms such as anger or hostility. Interestingly, female judges reported a greater incidence of compassion fatigue including internalized symptoms (73 percent female judges versus 54 percent male judges). Seventy three percent of the judges reported one or more coping or prevention mechanisms focusing on personal, professional, and social strategies. The judges who participated averaged 51 years of age and averaged 10 years of judicial experience. Eighty one percent of the responders heard some criminal cases, with 54 percent hearing domestic relations and civil court work, and 30 percent hearing some juvenile court matters as well, totaling over 100 percent due to varied or mixed calendars. The data bears thoughtful discussion, discernment, and hopefully some substantial follow-up. What is Compassion Fatigue? Compassion fatigue in judges is the result of vicariously becoming worn down and emotionally weary from hearing about and dealing with situations where people have been physically and emotionally injured, hospitalized, and all too often killed. These are litigants who suffer “on our watch,” so to speak. These cases have a way of creeping into our lives, and that is only natural if the judge cares about and is engaged in his or her work. In thinking about the subject, I have come to understand that these cases affect us in many ways. For me, the volume and nature of the cases can sometimes be overwhelming. Indeed, even one case can be devastating, and most of my colleagues can recall a profoundly tragic individual case even though it occurred years ago.The symptoms of compassion fatigue in judges are fairly predictable. Some judges reported internalized symptoms including sleeplessness, eating disturbances, increased anxiety, depression, and hypervigilance. Others reported external symptoms including becoming increasingly angry, irritable, and intolerant of others. Some judges reported increased fearfulness and security consciousness, the inability to make prompt decisions (procrastination), and increased difficulty focusing or concentrating. Some judges felt quite ambivalent and, therefore, anxious about critical decisions that were close calls. While most people experience one or more of these emotions or behaviors at some point in their lives, the frequency and acuity of the symptoms seem to elevate when we are responsible for the lives of others. Of great interest to me was our finding that compassion fatigue seems to peak at the seven-year mark during the judge’s tenure. Efforts to address this well before the seven-year mark are obviously in order. Coping Strategies As discussed, 73 percent of the judges reported some effective coping strategies beyond what some jokingly referred to as “golf and alcohol” at the end of the day or work week. Some of these are obvious and others more subtle. On a personal level, judges found that physical activity, rest, relaxation, and positive social contacts were most helpful. Others found professional improvement quite important. Examples might include ongoing professional education, collegial gatherings and discussions including mentoring sessions, and professional reading. Some judges found that writing articles, sitting on judicial improvement committees, and public speaking about the judiciary were ways to channel their energy constructively. Ironically, we as judges seem to take responsibility for our personal lifestyles, but have difficulty with external factors out of our control, including judicial administration and normal family milestones or developments. Interestingly, our spouses report that we suffer more symptoms than we are willing to self-report. Does that sound familiar?Colleagues from around the country tell me that poorly run courts, inefficient judicial administration, and systemic glitches not only hurt judicial morale but also certainly exacerbate compassion fatigue. Judges want some assurance that what they do has built-in checks and balances, and they are not simply “winging it.” building in redundancy measures or contingency plans in high-risk cases, judges might have more confidence in what they do. One example in my view would be domestic violence fatality reviews. These reviews can be an essential part of normal systemic reviews and improvements, as is the case in hospital administration with morbidity and mortality reviews. It seems obvious that improving litigant safety will improve judicial morale and reduce future compassion fatigue.Our study suggests that judges follow the ABCs of compassion fatigue prevention and avoidance: (1) awareness; (2) balance; and (3) connection. In my view, awareness is the most critical factor because we have all seen professionals, including judges, who work long hours, have a very cluttered office and car, and no time for normal pursuits. Often, poor physical health and a problematic family life accompany this. Can we leave work by 5 p.m. on a daily basis? Do we regularly take files home? Do we have healthy outside interests? In short, have we established both personal and occupational work boundaries?Balance and connection are equally important. Judges find strength in their communities, their cultures, their faith, their colleagues, and their families. A healthy sense of humor seems helpful. Of particular interest to me after over 25 years on the bench are effective communication skills. Being an active listener and gently confirming the factual positions and emotional stances of the witnesses, attorneys, and litigants assures us that we continue to be engaged in truly listening and discerning the right decision. Judges who develop their own unique style and “voice,” which is effective, authentic and real, appear to be more satisfied over the long term. Being positive, civil, and courteous seems to go a long way according to many judges. It is a matter of each judge’s own personal style and their particular community’s judicial culture. Conclusion Judges suffer from compassion fatigue as a result of continually hearing cases where people are physically and emotionally devastated. Awareness of the phenomenon and symptoms by the judge, their families, and their staff seems critical. Judges who are alert to compassion fatigue can make every effort to avoid it by establishing clear boundaries and acquiring key coping skills. The judge can balance the rigors of their work by identifying and connecting with key people, as mentors or sounding boards, and by utilizing some of the methods other professions find helpful.Judicial administrators need to be aware of compassion fatigue and provide serious, not token, systemic support, particularly in cases where there is a risk of serious injury or death. In my view, thoughtful systemic death reviews are a necessity, as they give judges some sense that the system is self-correcting and geared to establishing a culture of safety. That way, the judge can continue to hear these risk-laden cases professionally without constantly worrying that “the other shoe will drop.”In my view, judges need to periodically “take stock” of themselves and realize that this kind of work is not for everyone. They should be willing to rotate into other less stressful calendars, taking sufficient time off for a break or sabbatical. They must candidly and regularly reassess being a judge and, hopefully by the seven-year mark, consider a careful self-assessment and possibly reinventing themselves as a judge or in another role. These are all well-established options in other professions, but exceedingly difficult where becoming and being a judge is perceived to be the pinnacle of one’s career.The bottom line is that judges must continually attend to their physical and emotional health in a rigorous and disciplined way by utilizing all of the proven techniques employed by other professions. The judiciary and the individual judges are often society’s last outpost of accountability, intervention, and hope for families and children in distress. Surely, we must consider holding ourselves personally accountable while at the same time holding others legally responsible. Judge Michael A. Town is presently assigned to the Criminal Division of the Circuit Court in Honolulu, Hawaii, and often lectures on subjects such as the unified family court, domestic violence, alternative dispute resolution, therapeutic, preventative, and restorative justice. He can be contacted at [email protected] This column originally appeared in the National Domestic Violence Fatality Review Initiative Newsletter . The column is published here under the sponsorship of the Quality of Life and Career Committee. The committee’s Web site is at www.fla-lap.org/qlsm. The Quality of Life and Career Committee, in cooperation with the Florida State University College of Law, also has an interactive listserv titled “The Healthy Lawyer.” Details and subscription information regarding the listserv can be accessed through the committee’s Web site or by going directly to www.fla-lap.org/qlsm.last_img read more

Compliance: CFPB issues policy statement on ‘Compliance Aids’

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The Consumer Financial Protection Bureau (CFPB) announced last week it intends to establish a new category of materials that are similar to previous compliance materials but will now be designated “Compliance Aids.” According to the CFPB, this designation will provide the public with greater clarity regarding the legal status and role of the materials released.Currently the CFPB issues resources under such designation as: small entity compliance guides, instructional guides for disclosure forms, executive summaries, summaries of regulation changes, factsheets, flow charts, compliance checklists, frequently asked questions and summary tables.Regulated entities are not required to comply with the Compliance Aids themselves. Regulated entities are only required to comply with the underlying rules and statutes.Rather, Compliance Aids will present requirements of existing rules and statutes in a manner that is useful for compliance professionals, other industry stakeholders and the public. They may also include practical suggestions for how entities might choose to go about complying with those rules and statutes, but may not address all situations. continue reading »last_img read more

Landlords race to wire up European space

first_imgWould 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 newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

Danareksa expects equity fundraising, opportunities for recovery next year

first_imgGlobal and domestic pharmaceutical firms are currently working toward developing a vaccine for the coronavirus, which is expected to be ready for commercial use in 2021.Due to slower-than-expected budget disbursement caused in part by red tape, the Indonesian government will accelerate healthcare spending, including disbursing incentives to medical workers, by allowing regions to verify and directly decide who will receive incentives.The government has earmarked Rp 87.55 trillion (US$5.9 billion) from the state budget to strengthen the healthcare system, including Rp 65.8 trillion for COVID-19 management.The Jakarta Composite Index (JCI), the Indonesia Stock Exchange’s (IDX) main gauge, has lost 19.82 percent of its value so far this year following a global stock market crash in March caused by investors’ concerns over the pandemic’s impacts on the global economy.  Brokerage firm PT Danareksa Sekuritas has suggested that there is a huge potential for equity fundraising next year as it projects the economy to start recovering from the pandemic.Investment banking director Boumediene Sihombing said on July 16 that the firm expected the equity market to recover given that there were concerted efforts to battle the pandemic.“There are opportunities for recovery in the development of vaccines and expedited health budget realization,” he said during a webinar. Topics :center_img According to market player projections, the JCI will likely end the year at between 5,000 and 5,500, a wide range that shows how difficult it has been to predict market movements as pandemic-related risks will likely continue to create volatility.The government expects the economy to shrink 0.4 percent this year under a worst-case scenario or grow 1 percent in a best-case scenario, with the economy tipped to contract 3.8 percent in the second quarter. It expects growth of between 4.5 percent and 5.5 percent next year.Boumediene is also upbeat on the market’s prospects for initial public offerings (IPOs) in the second half of the year.He said companies that were engaged in the poultry, media, consumer, telecommunications and tower provider sectors could potentially enter the equity market earlier than companies in other sectors.“They could gain an advantage by entering the market earlier than companies from other sectors because they still have good prospects due to their minimal exposure to the pandemic’s impact,” he said. In regard to IPOs, the surge of new investors entering the bourse following the stock market crash in March is also expected to boost the market, according to Boumediene.The number of single investor identification (SID) numbers rose to 1.2 million as of May 29 from 1.11 million at the end of 2019, according to IDX data.“This proves that companies shouldn’t be worried about whether or not their IPOs will be absorbed by the market or not,” IDX assessment director I Gede Nyoman Yetna said during the webinar.Given these conditions, he suggested that companies with their sights on an IPO start preparing themselves for the opportunity to seek funding in the country’s equity market.The bourse saw 28 IPOs launch up until June, the most among exchanges in Southeast Asia, according to consulting firm McKinsey & Co.last_img read more

Virgin Australia closes budget offshoot, fires 3,000 staff

first_imgIt would also continue the suspension of long-haul international flights and retire part of its fleet, with the country’s borders likely to remain restricted into 2021.”Demand for domestic and short-haul international travel is likely to take at least three years to return to pre-COVID-10 levels, with the real chance it could be longer,” Virgin Australia CEO Paul Scurrah said in the statement.”As a business we must make changes to ensure the Virgin Australia Group is successful in this new world,” he added.United States private equity giant Bain Capital was successful in its takeover bid for Virgin Australia in late June. The deal is subject to regulatory approval and is due to be completed this month.The global aviation industry is facing its biggest crisis to date, with numerous big-name carriers seeking billions of dollars to stop them from going under, while others have gone out of business.Before the pandemic, the airline had struggled for years against larger carrier Qantas, which would have enjoyed a virtual monopoly if Virgin went out of business.Scurrah predicted that even if travel recovers to pre-pandemic levels, successful airlines will “look very different” to the way they did previously, requiring long-term capital and a lower cost base.Topics : Pandemic-struck airline Virgin Australia announced Wednesday it would close budget subsidiary Tigerair Australia and lay off 3,000 staff as it prepares to relaunch under new owners.The carrier is attempting to revive its fortunes following its decision to go into voluntary administration in April shortly after Australia closed its international borders and domestic travel plunged.Virgin Australia said in an announcement to the Australian Securities Exchange on Wednesday that it would axe its budget Tigerair Australia brand and 3,000 jobs while retaining 6,000 staff.last_img read more

Abyssal Wins Van Oord Innovation Challenge

first_imgPortuguese start-up Abyssal has claimed the first prize of the Van Oord Innovation Challenge as part of the quest for new partnerships. Out of more than one hundred submissions, the Dutch offshore contractor nominated 8 participants to the final round.Abyssal specialises in the visualisation and remote control of subsea operations using sensor data to deliver real-time 3D virtual overviews of the entire subsea environment.The will be granted an exclusive, one-year partnership contract with Van Oord.The contract should help the start-up take its business plan to the next level.Together with Van Oord, Abyssal will deploy its product in offshore projects to improve the safety and efficiency of subsea operations and help Van Oord to become a data-driven company.Luis Almeida, Technology Manager at Abyssal, said: “Abyssal is honoured and keen to start this collaboration journey with Van Oord. We share the same commitment to achieving a sustainable future using digital technologies and we are very glad to be doing it side by side with a company that brings 150 years of entrepreneurship and perseverance to the table.”last_img read more