Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 321

Posts Tagged ‘independent’

A Cannes lancio del Militello Independent Film Fest 2019

Posted by fidest press agency su mercoledì, 8 Mag 2019

Al prossimo Festival di Cannes, il 20 maggio alle ore 14.00 presso il padiglione italiano, si terrà la presentazione dell’edizione 2019 del MIFF, Militello Independent Film Fest: il direttore artistico, il regista Daniele Gangemi, illustrerà le prime anticipazioni sulla nuova edizione di quello che si è imposto da subito come il festival indipendente più importante della penisola.
Il festival nasce in uno dei gioielli artistici della Val di Noto, patrimonio dell’Unesco ed ha immediatamente riscosso un notevole successo sia per il numero delle opere pervenute che per il pubblico presente alle proiezioni, fino a 3000 spettatori durante le serate in piazza Santa Maria della Stella.
Nel 2018 sono state più di 5000 le opere pervenute da tutto il mondo per la selezione, di cui 61 (tra lungometraggi, documentari, cortometraggi e videoclip) quelle selezionate in concorso, 26 le nazioni rappresentate. Quattro sezioni ufficiali, 27 riconoscimenti, un premio speciale (la borsa di studio di quattro settimane presso la sede di New York del Lee Strasberg Theatre&Film Institute al miglior attore), 17 le squadre provenienti da tutta Italia per partecipare al contest di cortometraggi realizzati nella cornice della cittadina nei giorni precedenti al festival, 3 coinvolgenti Master Class ed un parterre di giurati ed ospiti di primo piano.

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Alcon Debuts as Independent, Publicly Traded Company

Posted by fidest press agency su giovedì, 11 aprile 2019

Alcon, the global leader in eye care dedicated to helping people see brilliantly, announced its debut as an independent, publicly traded company and the completion of its separation from Novartis. The company’s shares begin trading today on the SIX Swiss Exchange and New York Stock Exchange (NYSE) under the symbol “ALC.”Alcon is the largest eye care device company in the world, with complementary businesses in Surgical and Vision Care. The company has a global presence in 74 countries and serves patients in more than 140, with fast-growing businesses in emerging markets. Alcon has the widest array of eye care offerings in the industry with products that can treat eye disorders at each stage of life.
Eye care is an approximately $23 billion a year market, growing at roughly 4 percent annually. Last year, Alcon had sales of $7.1 billion, including $4.0 billion in Surgical – up 7 percent from the prior year – and $3.1 billion in Vision Care – up 3 percent.
Under the terms of the separation, each Novartis shareholder or ADR (American Depositary Receipt) holder will receive one Alcon share for every five Novartis shares or ADRs they held as of the close of business on April 1, 2019, the record date for the distribution.
Alcon is headquartered in Geneva. The company has maintained a presence in Switzerland for more than 40 years and it is where the company was incorporated prior to the Novartis acquisition. Alcon’s facilities in Fort Worth, Texas, will remain a major operational center and innovation hub with a large base of employees.Alcon will continue its substantial Corporate Giving efforts, which in 2018 included $62 million in monetary and product donations. Through its charitable organizations, the Alcon Foundation and Alcon Cares, Alcon partners with hundreds of charitable organizations to help increase access to eye care, providing sight-restoring surgeries, eye exams and other services to people in underserved communities around the world. Alcon also sponsors hands-on and virtual eye care provider training and skills-transfer to strengthen the level of care, and supports its communities through charitable donations and associate volunteerism.

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IHS Markit Authorised by FCA as Independent Benchmark Administrator

Posted by fidest press agency su mercoledì, 11 luglio 2018

IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced that it has been approved by the Financial Conduct Authority (FCA) as an authorised benchmark administrator under the European Benchmark Regulation (BMR), which aims to bring greater transparency and consistency to financial benchmarks.This authorisation allows market participants to continue referencing the broad range of financial and commodity indices from IHS Markit under BMR. The FCA’s authorisation also confirms BMR compliance for IHS Markit Index Administration Services clients, and recognises independent benchmark administration as a valid alternative for self-administrators under BMR.“Across our indices franchise, we strongly support the objectives of BMR in promoting the integrity and transparency of benchmark indices,” said Aram Flores, managing director and global co-head of financial indices at IHS Markit. “Financial institutions rely upon IHS Markit indices as the gold standard for market indicators, and as we continue to expand our leadership in this space, we will continue to deliver innovation and excellence.” “IHS Markit has invested a significant amount of resources in BMR compliance, and when appointed as an independent benchmark administrator, we can provide a compliance alternative to clients, which allows them to retain ownership of their indices, and avoid inherent conflicts of interest,” said Mark Schaedel, managing director and head of Index Administration Services at IHS Markit. “In addition, as an independent administrator, IHS Markit can provide endorsement for non-European indices which require access to the EU market.”IHS Markit provides a diverse set of proprietary benchmarks and tradable indices across assets, including iBoxx bond indices, iTraxx and CDX indices for credit default swaps, OPIS refined oil product indices and IHS McCloskey Coal indices used in commodity markets.As an early adopter of the International Organization of Securities Commissions (IOSCO) principles for financial benchmarks, IHS Markit has committed to applying BMR protocols ahead of the regulation’s transitional period ending in 2020.

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Independent boards are trusted more by lenders who then let firms borrow more for longer

Posted by fidest press agency su mercoledì, 17 giugno 2015

The more independent directors a company’s board has the more debt with longer maturity lenders are willing to give a firm, according to warwick_campus_2_large.Under the watchful gaze of a strict board the firm’s management are also far more likely to be careful with the company’s cash flow. Such a level of control can help abate the agency cost of debt – the increase in the cost of debt when the interests of debtholders and management diverge – and therefore benefit all stakeholders suggests Onur Tosun, Assistant Professor of Finance at Warwick Business School.Dr Tosun said: “Stronger internal monitoring via a more independent board of directors mitigates both debt agency and the issue of managers holding more power and influence than the board, plus it means companies have more debt with longer maturity.“This better governance acts as a control mechanism on the CEO which benefits all the stakeholders. It also increases long-term debt and resolves cash flow problems.”Without an independent and strong board overseeing the CEO lenders have used short-term debt as a potent controlling tool to keep them in check.Dr Tosun added: “Short-term debt can be a powerful tool to monitor management and deter them from taking risks without worrying about the consequences by enabling lenders to detect the CEO’s risky behaviour. They can then renegotiate the terms of the debt for higher returns or simply pull out as the short-term maturity of the debt basically gives the lender check points to evaluate how the CEO is using the money.“Therefore, the maturity structure of debt can substitute strong corporate governance, or vice versa, in terms of managerial control. When one increases, the other can decrease. In the presence of a powerful board with efficient control of the firm lenders don’t necessarily have to restrict themselves to short-term debt as monitoring the management is done by that strong independent board.“Consequently, lenders may become more willing to issue longer term debt as firms have more independent and stronger boards.”For the paper Internal Control and Maturity of Debt – a working paper yet to be published – Dr Tosun and Lemma Senbet, of the Robert H Smith School of Business, looked at the debt of 1,300 US firms between 1996 and 2009. In 2003 new regulations were introduced requiring companies to have a majority of independent members on their board of directors, called the Sarbanes-Oxley Act (SOX Act), so the researchers looked at the firms seven years before and six years after the act.
The study found the average maturity of the firm’s debt was about three years and three months, while the average number of independent members on the board was 65 per cent.Between 1996 and 2002 board independence increased by about two per cent, to 48 per cent, but right after the new act independence jumped 17 per cent to 65 per cent and kept rising up to 78 per cent by 2009.Although short-term ratio debt generally increased from 35 per cent to 38 per cent before the new act, it started to decline rapidly to 31 per cent afterwards.Dr Tosun added: “This reversed relation between these two variables around the new act clearly exhibits the impact of the corporate governance changes via the board independence after 2002 on the debt maturity decisions in the firms. We also looked at firms where the CEO is also chair of the board or has certain powers over the board and this relation with debt was again strong, but when lenders issued debt that converted into shares in that company the relation broke down as there was no need for a more independent board.”Before the SOX Act, the annual mean value of long-term debt ratio and weighted average maturity decreased from 51 per cent to 47 per cent and from 3.15 to three years, respectively, but after it both measures increased quickly. Long-term ratio debt rose to 56 per cent, while weighted average maturity increased to 3.4 years, denoting a rise in long-term debt and a fall in the short-term debt ratio.“The relationship between board independence and the maturity structure of debt has never been researched before,” said Dr Tosun. “We provide findings that could solve both the moral hazard of CEOs – managerial agency – and the divergence of interests between the debtholders and the CEO over debt – debt agency.“Our findings indicate that firms have debt with longer maturity as board independence increases and internal monitoring becomes stronger. Interestingly the results are even stronger for conglomerate firms.”

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Independent investigation

Posted by fidest press agency su martedì, 2 giugno 2015

amsterdamWhile the banks asserted that their consultants found nothing that would warrant the suspension of the project, they failed to mention that their own independent accountability mechanism was undertaking an investigation of the project. Indeed, by that time, the banks had already seen a draft of the ICM’s report with findings that the project was not in compliance with its own policies. “We were surprised to find out about the role of the banks in influencing the national process, as this is in contradiction to their assertions that they are not in a position to intervene in national decision-making.” said Anouk Franck, senior policy advisor at Both ENDS, based in Amsterdam. “They should now show their commitment in coming to a solution and start taking FPIC seriously, in the case of Barro Blanco, where due to delays in tackling the issue, the banks might need to accept losses on their loan. And they need to find ways to assure themselves FPIC is obtained where relevant, for example through human rights impact assessments.”
The handling of the complaint was a lengthy and at times frustrating process. GENISA refused to cooperate with the ICM and provide them with access to project documents, leading the banks to conclude a secret side agreement with GENISA. The secret side agreement superseded the publicly available procedures of the ICM and allowed GENISA to review the draft and final investigation reports before they were shared with complainants. “FMO and DEG are more concerned with protecting the interests of their client than they are with protecting the rights of those affected by the projects they finance,” said Kris Genovese, senior researcher at the Centre for Research on Multinational Corporations (SOMO). “It’s a tragic irony that banks asked the consent of the company to publish the ICM’s investigation report, but didn’t ask consent of Ngöbe-Buglé for the project.”
The Barro Blanco project was registered under the Clean Development Mechanism, a system under the Kyoto Protocol that allows the crediting of emission reductions from greenhouse gas abatement projects in developing countries. “As climate finance flows are expected to flow through various channels in the future, the lessons of Barro Blanco must be taken very seriously. To prevent that future climate mitigation projects have negative impacts, a strong institutional safeguard system that respects all human rights is required,” said Pierre-Jean Brasier, network coordinator at Carbon Market Watch. “The opportunity to establish such a necessary safeguards system is now, ahead of the Paris agreement, to put the respect of human rights on top of the UNFCCC agenda.”The ICM will monitor the banks’ implementation of corrective actions and recommendations. Meanwhile, the M10 expect FMO and DEG to withdrawal their investment from the project and ask that the Dutch and German governments show a public commitment to ensuring the rights of the affected Ngöbe-Buglé. At the same time, the banks should refrain from putting pressure on the Panamanian government.

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Solar electricity for Italy: GP JOULE opens solar park in the Friaul region

Posted by fidest press agency su mercoledì, 8 gennaio 2014

san_besso_colle_borra (1)Udine Solar energy made in Reußenköge – the power plant project planners GP JOULE have connected a solar park with a total performance of 26.5 Megawatt up to the grid in the Friaul region in the north of Italy. The park consists of 6 sections which are located near Udine, the capital of the region Friuli Venezia Giulia. The eco-electricity generated in the solar parks secures the supply of 7,300 households.This park is one of three parks which GP JOULE has already built in Italy. GP JOULE intends to expand especially in the Power Purchase Agreement (PPA) business all over the South-European area. For this purpose PV systems are installed for industrial, commercial and private customers. The consumer concludes a direct agreement with the producer. Usually, this energy price is much more favorable than that one of the communal energy supplier. Energy prices in Italy rank among the highest ones in Europe. The suppliers increasingly introduce electricity tariffs depending on the time of the day: Thus, during the day, when there is a high demand, the electricity is particularly expensive. Especially in a sunny country like Italy, the installation of PV systems producing electricity at constantly decreasing prices gets more and more attractive.“The expansion of the PPA business helps to put our business on a better, less volatile basis,” explains GP JOULE managing director Ove Petersen. “The objective is to extend our service portfolio by a further important pillar and to make us more independent of the further development in Germany.” The concept of direct marketing is becoming more important in particular in Italy. In the middle of 2012, the new promotion act “Conto Energia V” entered into force, which reduces the energy feed-in tariffs for solar systems significantly. The total amount of aid for photovoltaic is now limited to 6.7 billion Euros. Roof systems receive preferential treatment, ground-mounted systems will get feed-in tariffs only in conversion areas. If the amount of subsidy is used up, the promotion of solar energy production will end for new parks in Italy. Similar to Germany, the feed-in tariff for existing parks is paid for 20 years.

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Britain’s biggest independent solar power installer

Posted by fidest press agency su lunedì, 19 marzo 2012

London, (PRNewswire) Britain’s biggest independent solar power installer, EvoEnergy, is bringing a message of optimism to the industry when it attends the Ecobuild Exhibition at the Excel Centre in London this week.
The company is enjoying strong commercial sales and a growing share of the market for domestic installations. EvoEnergy has completed major contracts across the country including solar installations at King’s Cross Station, Wandsworth Town Hall and Police Station and the Nottingham Tennis Centre.Tom Craig, Head of Marketing, said; “We are extremely optimistic about the future for our industry. There’s no doubt that it has been through a difficult time, but now we have some clarity from the government and can see how the industry is going to develop.”The company is looking to increase its share of the domestic market by offering roof and ground mounted solar power systems and also offer home owners heat pumps and solar thermal installations.Tom Craig said; “It’s the first time we’ve exhibited at the Ecobuild exhibition and we’re really looking forward to getting to know contractors, architects and suppliers and meeting them face to face. We want to use the conference to build on the strengths of the EvoEnergy brand. We’ll be able to give expert advice and comment on the industry. We’ll also be able to give quotes to commercial customers and homeowners.EvoEnergy is holder of three of the industry’s most prestigious awards including the Renewable Energy Association’s Installer of the Year.It has a nationwide operation and has carried out installations from the Orkney Islands to Penzance.
ThromboGenics Enters Into Commercialization Agreement for Ocriplasmin With Alcon Outside the United States
Leuven, Belgium, (PRNewswire) ThromboGenics to concentrate on realizing ocriplasmin’s significant commercial potential in the U.S. ThromboGenics to receive €75 million upfront and a further €90 million in potential near-term payments. Additional milestones bring the total of up-fronts and potential milestones to €375 million
ThromboGenics will receive royalties on net sales of ocriplasmin that are commensurate with a product that has successfully completed phase III development and that has been filed for regulatory approval Alcon plans to introduce ocriplasmin in more than 40 countries worldwide ThromboGenics retains all U.S. rights to ocriplasmin and will commercialize the product itself in the U.S. Ocriplasmin is currently under review by the European Medicines Agency as the first pharmacological treatment for symptomatic Vitreomacular Adhesion (VMA) including macular hole, a debilitating eye disease

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For Democracy and Conflict Resolution

Posted by fidest press agency su domenica, 17 ottobre 2010

World-renowned architect Daniel Libeskind has been chosen to design a landmark building in the UK to house a new international institute working towards democracy and conflict resolution around the globe. The new Institute for Democracy and Conflict Resolution (IDCR) at the University of Essex will build on the University’s 40 years of practical and academic expertise in the field of human rights, justice and governance, and become an international beacon for democracy.
It will be the largest purpose-built institute for independent research and policy analysis in these areas, drawing on Essex’s experience as the top ranked University in the UK for social science research.
Daniel Libeskind, who won the competition to design the master plan for the new World Trade Center site in New York, has designed the Jewish Museum in Berlin, the Imperial War Museum North in Manchester, and the Danish Jewish Museum in Copenhagen. He received a Master’s degree in the history and theory of architecture at the University of Essex in the 1970s.
Daniel and his wife Nina Libeskind have a passionate interest in work which promotes democracy and conflict resolution, and have pledged their support to the University’s fundraising campaign for the Institute. Professor Todd Landman, Director of the IDCR, said: “The focus of this newly-formed Institute will be unique in combining rigorous social scientific research and policy analysis with practical experience and attention to democracy, human rights and justice. “We are delighted that Daniel Libeskind has been chosen to design the iconic building we need to expand and develop our embryonic work. The building will evoke a powerful reaction from visitors, while conveying the seriousness and purpose of an international institute.”
Experts from the University of Essex have held a number of key positions in the United Nations including the UN Special Rapporteur on Torture, the UN Special Rapporteur on the Right to Health, senior adviser to the UN High Commissioner for Human Rights, and member of the UN Human Rights Committee. The University’s legal experts have conducted cases in Strasbourg, establishing far-reaching precedents that have shaped the jurisprudence of the European Court of Human Rights. The University’s Human Rights Centre, which was awarded the Queen’s Anniversary Prize in 2010 for its work in advancing human rights, has trained more than 1,500 students from more than 100 countries. They too work for international organisations including the United Nations, the Council of Europe, the Organisation for Security and Co-operation in Europe (OSCE) and non-governmental organisations including Amnesty International and Human Rights Watch. Essex graduates also work in the field in conflict-torn countries including Bosnia, Kosovo, Nepal and Sudan. http://www.essex.ac.uk

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CEC Presidium to meet in Warsaw

Posted by fidest press agency su mercoledì, 21 aprile 2010

Warsaw, Poland, 25-27 April 2010 The progress of the implementation of the Conference of European Churches (CEC) Central Committee’s working priorities set after the 12th CEC Assembly in Lyon, France, in July 2009, will be one of the main areas of discussion during the meeting of the CEC Presidium on the 25th-27th of April.  The Presidium will receive reports on recent and future activities of CEC from the Acting General Secretary, Rev. Prof. Viorel Ionita, from the Senior Management Team and from its different working areas: the Church and Society Commission, which deals with European affairs; the Churches in Dialogue Theological Commission, and the Churches’ Commission for Migrants in Europe (CCME), an independent body which is in the process of integration with CEC. This Presidium is being hosted by the Polish Ecumenical Council and is being held during a sorrowful and difficult time for the Polish people. On Tuesday the 27th of April, the CEC Presidium will be meeting with representatives of the CEC member churches in Poland. We wish to dedicate our work and our prayers at this particular time to all those who suffer the loss of their loved ones and for God’s care for the people of Poland.
The Conference of European Churches (CEC) is a fellowship of some 120 Orthodox, Protestant, Anglican and Old Catholic Churches from all countries of Europe, plus 40 associated organisations. CEC was founded in 1959. It has offices in Geneva, Brussels and Strasbourg.

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Creation Wealth Pack (IWP)

Posted by fidest press agency su lunedì, 4 gennaio 2010

Dubai, Uae Majlis Partners, a wealth management and family business advisory firm announces the creation of a one-of-a-kind Inspirational Wealth Pack (IWP). The IWP was created in response to Sheikh Mohammed bin Rashed Al Maktoum’s directive to remain focused and to continue to build upon the previous achievements of the UAE. The IWP consists of individual, easy-to-read cards that share interesting stories, inspirational quotes, and financial advice from Western, Middle Eastern, and Asian leaders, businessmen, entertainers, and academicians. The quotes are from sources including the UAE leadership (Sheikh Zayed bin Sultan al Nahyan and Sheikh Mohammed bin Rashid Al Maktoum), world class businessmen (Warren Buffet and Andrew Carnegie) and entertainers (Oprah Winfrey and Bob Hope). All of the quotes are meant to inspire leadership and challenge one’s assumptions about how to live a successful and rewarding life. The thoughts are based on seven basic values and principles – themes that are beautifully presented in a sturdy box for display on top of the reader’s desk or bureau. The themes are Wisdom and Wealth, Money and Investing, Success, Legacy, Leadership, Education, and Charity. Majlis Partners is an independent, privately-owned, wealth management and family business advisory firm focused on connecting businesses and institutions in the Middle East, Africa, and Asia to business opportunities, financial investments, and other principals from around the world. For more information, please visit http://www.majlispartners.com

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From Fundamental Rights Agency

Posted by fidest press agency su martedì, 22 dicembre 2009

The Management Board of the European Union Agency for Fundamental Rights (FRA) held elections at their 8th Meeting that took place in Vienna. The Management Board elected Ilze Brands Kehris (Latvia) as its new Chairperson and re-elected Hannes Tretter (Austria) as Vice-Chairperson. The two new Executive Board members elected at the meeting are Marie Staunton (UK) and Linos-Alexander Sicilianos (Greece). The FRA’s Management Board is composed of one independent person appointed by each Member State, one independent person appointed by the Council of Europe and two representatives of the European Commission. The Executive Board comprises the Chairperson and the Vice-Chairperson of the Management Board, two other members of the Management Board elected by the Management Board and one of the representatives of the European Commission. The person appointed by the Council of Europe may participate in the meetings of the Executive Board. The newly elected Chairperson, Vice-Chairperson and Executive Board Members will take up their duties mid-January 2010.
The FRA was established through Council Regulation (EC) No 168/2007 of 15 February 2007. It is an independent body of the EU based in Vienna. The FRA provides assistance and expertise on fundamental rights matters to the EU and its Member States, when they are implementing Community law. For more information visit http://fra.europa.eu/
The new Chairperson, Ms Ilze Brands Kehris is director of the Latvian Centre for Human Rights. She has participated in numerous research projects, the main areas of her research being minority rights, citizenship, anti-discrimination and fundamental freedoms. Ilze Brands Kehris was Vice-Chairperson of the Management Board of the European Union Monitoring Centre on Racism and Xenophobia (EUMC, the FRA’s predecessor) from 2004-2007, and was a member of the Executive Board of the FRA before being elected the new Chairperson of the Management Board. The Vice-Chairperson, Mr Hannes Tretter, is the Management Board member from Austria. He is Professor for Fundamental and Human Rights law at the University of Vienna and Director of the “Ludwig Boltzmann Institut für Menschenrechte” (Ludwig Boltzmann Institute for Human Rights). Mr Tretter is an expert on EU, Council of Europe and OSCE Human Rights protection.

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Palestine: Program of the Thirteenth Government

Posted by fidest press agency su mercoledì, 26 agosto 2009

The document presents the program of the 13th government of the Palestinian National Authority. The program, which sets out our national goals and government policies, centers around the objective of building strong state institutions capable of providing, equitably and effectively, for the needs of our citizens, despite the occupation. We believe that full commitment to this state-building endeavor will advance our highest national priority of ending the occupation, thereby enabling us to live in freedom and dignity in a country of our own. The determination of our people to end the occupation and establish our independent state underpins our confidence in their support for the goals and policies outlined in this document. It is through the support of our people that we will succeed in our mission. Through their commitment to the PLO program- the program of self-determination, the right of return and the establishment of an independent state- combined with the sense of accomplishment and self-empowerment that has started to emerge as a direct consequence of the success of the national stabilization effort over the past two years, we are confident that the Palestinian people will fulfill their national aspirations, provided, of course, that we also succeed in restoring the unity of our homeland and institutions.  We look forward to continued regional and international support to establish Palestine as an independent, democratic, progressive, and modern Arab state, with full sovereignty over its territory in the West Bank and Gaza, on the 1967 borders, with East Jerusalem  as its capital. Palestine will be a peace-loving state that rejects violence, commits to co-existence with its neighbors, and builds bridges of cooperation with the international community. It will be a symbol of peace, tolerance and prosperity in this troubled area of the world. By embodying all of these values, Palestine will be a source of pride to all of its citizens, and an anchor for stability in this region. Salam Fayyad Prime Minister (abstract)

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