Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 316

Posts Tagged ‘plans’

Deal struck on Clearing houses’ recovery and resolution plans

Posted by fidest press agency su martedì, 30 giugno 2020

Central counterparties (CCPs) should have detailed recovery plans with a harmonised set of tools for restoring their finances with no cost to taxpayers.A deal between the EP the Council negotiating teams struck on Tuesday evening provides a harmonised risk management system, designed to enable CCPs in difficulty to continue clearing services while minimising the risk that taxpayers might have to bail them out.CCPs sit between buyers and sellers of stock, bonds or derivatives and shoulder the risks of a transaction party default. Due to the growing value and volume of the transactions they handle, they have in recent years become systemically important and are often deemed “too big to fail”.Negotiators agreed to distinguish between a “default event” when one or more clearing members fail to honour their financial obligations and a “non-default event” such as a business failure incurring losses. They want CCPs to draw up comprehensive and effective plans for dealing with both cases. The main goal of a recovery plan is for a CCP to continue providing clearing services without any public financial support.CCPs are already obliged to hold capital and their clearing members contribute also to a default fund. In case of default of a clearing member, CCPs should use their own resources (skin in the game) and may require other financial contributions from non-defaulting members before the authorities step in.Additionally, MEPs introduced prohibition or restriction of dividends and bonuses in case of a default event caused by mismanagement. Such a provision for sound risk management that would keep CCPs’ capital available in case of recovery.Finally, negotiators agreed, following the EP team’s insistence, to introduce an additional, pre-funded second skin in the game to be used after the default fund, which would be further defined by ESMA. This proportional and risk-based requirement for additional funds would further contribute to the protection of taxpayers and increase the incentive for sound risk management.Member States where a CCP is established must designate one or more resolution authorities (such as national central banks or competent ministries), which would decide that a CCP is failing or likely to fail, and would be empowered to apply a combination of the resolution tools.Negotiators agreed on a closed list of resolution tools including cash calls (additional contributions) to non-defaulting members twice as big as a default fund, variation margin gains haircutting – reduction of the value of any gains payable by CCP to non-defaulting members, sale of business and government stabilisation tools as a last resort. They also envisaged a review clause in order to re-assess the list.
Resolution should aim not to incur greater losses for shareholders, creditors, clearing members and direct clients of the CCP than they would have incurred in the case of non-intervention and insolvency of the CCP – compliance with “no creditor worse off” principle.Negotiators agreed that when a CCP in a non-default case reduces payments to non-defaulting clearing members and clients it should recompense them, once its health is restored, through cash payments or ownership in future profits.
Additionally, it was agreed that contractual arrangements allowing clearing members to pass losses on to their clients in case of the resolution should also include, on an equivalent and proportionate basis, the right for clients to any compensation that clearing members receive. These provisions should also apply to indirect clients.Some technical work on the text is now under way by the services of the three institutions. Afterwards the agreement reached by the EP negotiating team will have to be approved by the ECON committee and a plenary vote. The Council also has to confirm it.

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Deal on ECI extensions: plans for additional flexibility approved

Posted by fidest press agency su lunedì, 29 giugno 2020

The draft legislation will retroactively extend time limits for the collection, verification and examination phases of European Citizens’ Initiatives affected by COVID-19.Following last week’s adoption by the European Parliament of amendments containing improvements on the original Commission proposal, negotiators from the three EU institutions reached an informal agreement on Thursday afternoon, largely based on Parliament’s position.Parliament’s proposed improvements focused on lowering the thresholds required for the Commission to further extend the temporary measures if the situation remains difficult in September. The necessary threshold will be reduced from a majority of member states originally foreseen (or states representing more than 35% of the Union), to a quarter of EU countries. Another key change is the option for ECI organisers to participate remotely in hearings or meetings, if they choose to do so.After the meeting, rapporteur Loránt Vincze (EPP, RO) said: “We have concluded this process with remarkable swiftness and good cooperation, serving the interests of European citizens. In this way, we are ensuring that the most important EU mechanism for participatory democracy is protected and that ECI organisers are supported in their efforts through legal clarity and flexibility”.
The informal agreement, once endorsed by the Council, will have to be tabled at Constitutional Affairs Committee. Thereafter, the proposal is expected to become legally binding through votes in Parliament’s plenary and in the Council. Parliament aims for the process to be finalised by July. These temporary measures, once adopted, will stay in force until the end of 2022.

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Tourism and travel plans: Committee welcomes Commission’s package to overcome COVID-19 crisis

Posted by fidest press agency su lunedì, 18 Maggio 2020

The European Parliament’s Transport and Tourism Committee has been insisting since March on a strong and coordinated EU-wide action to overcome this crisis.On behalf of the Tourism Task Force, I would like to underline that the tabled proposals are necessary tools to relaunch tourism in Europe in a harmonised way. It is crucial to reassure citizens that tourism and travelling will be possible and safe this year.
The package presented today is historic: the Commission took the first steps towards a coordinated European approach on tourism – a real EU tourism strategy -, which is needed now more than ever. We need a long-term vision that is smart and sustainable, with a dedicated budget line as well as a mechanism to manage crises.Parliament’s Transport and Tourism Committee MEPs remain strongly committed to EU recovery plans and are happy to contribute to organising the European Tourism Summit in September. We should use this crisis to redesign tourism across the EU. Tourism must become sustainable and responsible. Supporting local tourism should be a matter of priority.On passenger rights, I welcome the recommendation on vouchers and reimbursements. Consumers cannot be doubly victimised by this crisis and have to be able to choose freely between reimbursements and attractive vouchers.Last but not least: reopening the borders should be possible only if the public authorities have made sure the risk of a new wave of COVID-19 cases is low. Once borders reopen, there cannot be any discrimination to free movement and the process has to be based on clear criteria. Reopening borders only between certain areas solely for economic gain will be unacceptable.”

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Horizon8 Opens European Headquarters in Cork with Plans for up to 50 Jobs

Posted by fidest press agency su martedì, 10 dicembre 2019

Horizon8, an innovative, technology solutions company today opens its European headquarters in Cork, Ireland. Formerly called HengTian, the Company was created in 2004 as a strategic partnership between Boston based State Street, and Hangzhou based Insigma Technology and Zhejiang University. The new office in Cork will mark the first European office for Horizon8 adding to the company’s North American presence in Boston.An Tánaiste (Deputy Prime Minister), Simon Coveney, T.D. commenting on the opening said: “This announcement is great news for Cork and indeed Ireland. With up to 50 jobs planned, Horizon8 is placing a significant vote of confidence in the Irish Market and further demonstrates our competitive position in attracting Foreign Direct Investment. All of these roles will be for high-skilled workers, including engineers, developers and business consultants. As a Government, we have been committed to making sure that there is a strong pipeline of job opportunities outside of Dublin and today’s announcement reaffirms this.”
Robert Williams, Chairman of Horizon8 said: “We are delighted to launch our European headquarters in Cork. The re-branding of HengTian to Horizon8 as well as the new office opening marks the next step in the evolution of our global business. Through our presence in Ireland we are ideally placed to serve a growing international client base, building on the successful work we have carried out over the past 15 years.” Commenting on the opening, Patrick Horgan, Managing Director of Horizon8 in Europe, said: “For Horizon8, Cork offers us access to a deep talent pool, European connectivity and most importantly a location which is surrounded by best in class academic institutions. Through our collaboration with University College Cork, we are committed to driving R&D innovation in Ireland. We look forward to building our presence here in the coming years and creating jobs but also new, cutting-edge solutions for our customers around the world.” Since its inception, Horizon8 has developed a suite of capabilities and solutions across professional services, data analytics, AI and blockchain technology, working with clients across a multitude of sectors.

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ADARA announces expansion into the Nordics and plans for further European growth

Posted by fidest press agency su sabato, 9 novembre 2019

ADARA, the leader in predictive traveller intelligence, today announces its expansion into the Nordic market for the first time, with the appointment of Jonas Jonsborg as Regional Manager, Nordics ADARA. In addition to the hire, ADARA also announces new recent data partnerships with Momondo, HotelsCombined and Cheapflights, which will further bolster its presence in Europe and support brands in the region. Comprising over 850 million monthly unique traveller profiles across more than 200 leading travel brands, ADARA’s travel data co-op offers a holistic view of traveller behaviour and preferences along the entire customer journey. Since expanding into the region in 2013, ADARA has established a strong presence in Europe with the appointment of Curtis Nishijima as Managing Director, EMEA in 2018 and with key hires in the UK, Germany, France and Spain. ADARA has also seen an increase in its EMEA data profiles of 38% year on year, furthering bolstering their data presence in the region.Building on the success in these markets, ADARA is now strengthening its presence in the Nordics, one of the fastest-growing travel markets in EMEA. Tourism in the Nordics has seen a significant rise in recent years; since 2014 the region had an annual growth of 6% – 8.5% in the number of hotel nights. The expansion seeks to enable travel brands and agencies to tap into the increased demand by tourists to and from the Nordic region by offering holistic data insights that can be used to create personalised marketing campaigns based on the complete view of the traveller.The depth and applicability of ADARA’s data go beyond the travel and tourism industries. Other sectors in the Nordics such as luxury retail, financial services and automotive can also take advantage of ADARA’s understanding of traveller purchase behaviour and ADARA can provide these brands with solutions that improve marketing performance and help achieve deeper personalisation using actionable data.In his new role, Jonas will spearhead ADARA’s expansion into the Nordic markets, drawing on his extensive understanding and experience in data and advertising technology. Jonas has previously held executive positions at Adform, Microsoft, Meetrics and Audience Project.

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Plans to double the funding of the Internal Security Fund (ISF) designed to support EU

Posted by fidest press agency su giovedì, 21 febbraio 2019

Countries in the area of security were backed by Civil Liberties MEPs on Tuesday. The reinforced Internal Security Fund (ISF) will focus on tackling terrorism, violent extremism, radicalisation, organised crime and cybercrime and assisting and protecting victims of crime. MEPs emphasized that while national security remains solely a competence of the member states, protecting it requires cooperation and coordination at EU level. Civil Liberties Committee MEPs agreed on a €2.5 billion budget in current prices (€2.2 in 2018 prices) for the Internal Security Fund for 2021-2027. This more than doubles the fund’s 2014-2020 budget. Of the agreed budget, 60 % will be allocated to member states. The remaining 40 % of funds will be reserved for unforeseen security challenges, allowing for rapid response to emergencies and the channelling of funds to the member states that need them most.The new Internal Security Fund will:
improve and facilitate the exchange of information between law enforcement and judicial authorities of the member states, other relevant EU bodies like Europol and Eurojust as well as with non-EU countries and international organisations;
improve and intensify cross-border coordination and cooperation, including joint operations in relation to terrorism and serious and organised crime with a cross-border dimension;
strengthen the capabilities of EU countries to combat and prevent crime and to tackle radicalisation; and help to develop a common intelligence culture by supporting mutual trust, understanding and learning, the dissemination of know-how and best practices among the intelligence services of the member states and with Europol.
Next steps The draft report was adopted by 44 votes to 10, no abstentions. The Full House will vote on the draft report in the first March Strasbourg session, ahead of the negotiations with the Council.

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World Choice Investments Reveals Growth Plans

Posted by fidest press agency su giovedì, 11 gennaio 2018

Pigeon-forgeWorld Choice Investments dinner attractions are stampeding into the future with plans to expand into new communities around the globe in 2018. World Choice Investments, LLC currently operates several dinner show attractions in Pigeon Forge, Tennessee; Branson, Missouri; and Myrtle Beach, South Carolina for Dolly Parton showcasing show concepts featuring live entertainment from heroic horsemanship to swashbuckling pirates. As the expansion plans take shape, the production team is hard at work updating the existing shows for 2018. “Our shows currently are identified by where they are located,” Dolly said. “Some examples are Smoky Mountain Adventures or Dixie Stampede. We also recognize that attitudes change and feel that by streamlining the names of our shows, it will remove any confusion or concerns about our shows and will help our efforts to expand into new cities.” To that end, WCI’s legacy show, Dolly Parton’s Dixie Stampede, will become simply Dolly Parton’s Stampede for the 2018 season.“There is interest in several parts of the United States and internationally to host one of our unique dinner attraction shows,” Jim Rule, World Choice Investments CEO, said. “We provide spectacular family entertainment at a great value. We continually listen to our guests and our desire to expand coupled with our desire to stay relevant in today’s changing world led us to simplify our shows’ names.” The existing locations re-open for the 2018 season from late January through early spring depending on location. About World Choice Investments: Founded in 1988, World Choice Investments, LLC, doing business as Dolly Parton’s Stampede Dinner Attraction, Pirates Voyage Dinner & Show, operates dinner attraction venues for family fun and adventure in Pigeon Forge, Tennessee, Branson, Missouri and Myrtle Beach, South Carolina. Our shows feature special effects, musical productions, live animals and a four-course family feast. (photo: Pigeon Forge)

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Civil liberties MEPs back plans to waive visa requirements for Ukrainians

Posted by fidest press agency su martedì, 27 settembre 2016

ucrainaPlans to waive visa requirements for Ukrainian citizens entering the Schengen area were approved by the Civil Liberties Committee on Monday. If approved by Parliament and Council, it will allow Ukrainians who have a biometric passport to enter the EU area without a visa for 90 days in any 180-day period, for business, tourist or family purposes. The resolution drafted by Mariya Gabriel (EPP, BG), was approved by 38 votes to 4 with 1 abstention.Ms Gabriel notes that the visa liberalisation dialogue has proven “an effective tool to promote difficult and far-reaching reforms”, particularly in the field of justice and internal affairs. Ms Gabriel points to the Association agreement between the EU and Ukraine, ratified by both Parliaments last year, and considers it a clear proof of the shared aspiration to achieve “a substantive rapprochement”.Waiving the visa obligation, she adds, will represent a concrete achievement reflecting the aspirations and commitment shown by the Ukrainian people to peace, stability and a European and reformist direction for the country.As to migration and security risks, the rapporteur underlines that the current refusal rate for EU visas for Ukrainian citizens is below 2%, while the return rate of irregular migrants, under a bilateral readmission agreement signed in 2007, is over 80%.The EU and Kiev started visa liberalisation negotiations in 2008. At the end of 2015, the European Commission concluded that Ukraine had made the necessary progress and met all the benchmarks, despite the exceptional internal and external challenges it had faced in recent years, and presented a proposal to grant its citizens visa-free access to the EU last April.
The committee also backed the opening of negotiations with the Council, by 38 to 5 , with a view to reaching a first reading agreement on the plans, and approved the composition of the negotiating team.

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Miami Properties Featured at Beijing Luxury Property Show

Posted by fidest press agency su sabato, 30 Maggio 2015

The MIAMI Association of REALTORS® (MIAMI), the nation’s largest local Realtor association with 35,000 members, promoted South Florida real estate to Asian luxury buyers at China’s leading property showcase last month. MIAMI participated in the ninth annual Luxury Property Show Beijing show from April 24-26 at the prestigious Legendale Hotel Beijing.Teresa King Kinney, chief executive officer of MIAMI, presented information on the Miami and South Florida real estate market to event attendees.More than 5,200 affluent real estate buyers and investors from Beijing and Northern China attended the invitation-only event. The 2015 LPS Beijing show featured an impressive collection of some of the world’s most exclusive and coveted luxury properties around the globe, with more than 35 participating countries.
Miami was one of 220 global cities showcased at the show. China is one of the fastest growing segments of South Florida foreign buyers, and the Asian country’s interest should only increase due to Miami’s world-famous lifestyle, leading education institutions, expansive designer shopping, strong economy, great weather, clean air, walkable districts, and secure investments.
“The presence of Chinese buyers in South Florida is definitely growing,” said 2015 MIAMI Residential President Christopher Zoller, who participated in the showcase. “South Florida has long led the nation in international real estate sales, and we feel very strongly that China, the world’s most populated country, will only increase Miami real estate sales to foreign buyers.”In addition to Christopher Zoller, EWM Realty International, the following MIAMI members participated with the MIAMI Association in LPS Beijing 2015: Indra and Haimnath Ragbir, The Keyes Company; Oscar Teran of Avanti Way; Edward Cruz & Keoloha of The Agency Luxe, Inc.; Jesse Pan of Coldwell Banker; and John Milakovic.MIAMI has facilitated several events to help its members better advertise their properties in China. In 2013, MIAMI made a market-presentation in San Francisco to a group of 100 top Chinese brokers with SouFun, which operates one of the leading real estate Internet portals in China. MIAMI also hosted a dinner last fall in Miami for the Chairman of the Chinese Real Estate Association and their delegates.‎ MIAMI members also have special pricing for their properties on SouFun, now
China is one of the fastest growing segments of South Florida international buyers, according to a recent survey conducted by the National Association of Realtors (NAR) for MIAMI. Chinese buyers represented 2 percent of all international closed sales in Miami-Dade and Broward Counties in 2014. That’s a 50 percent increase from 2012 and 2011 when China comprised 1 percent of transactions.About 81 percent of foreign clients paid all cash for South Florida properties, compared to 60 percent of international buyers purchasing homes elsewhere in the U.S., the MIAMI survey showed. MIAMI’s international clients spend a mean purchase price of $444,000 on properties, which is significantly higher than the mean purchase price $245,500 nationally.
miamiMiami is in position to increase its Chinese international investments. PortMiami, the top-ranked container cargo port in Florida with 900,000 TEUs handled each year, is in the process of deepening its channel from its current 42-foot depth to 50-52. When the $2 billion deep dredge project is completed in 2015, PortMiami will be the only U.S. port south of Norfolk, Va. that can accommodate the new, mega cargo vessels that will pass through the expanded Panama Canal. PortMiami hopes to become a transshipment hub for manufactured goods coming from East Asia.
An affiliate of China Communications Construction Company U.S. International made headlines in December when it bought a 2.4-acre Brickell site for $74.7 million. It marked the Chinese firm’s first major Miami purchase. American Da Tang Group Co. Ltd. in New York is working with CCCC as the Chinese firm’s U.S. representative on the project.While CCCC hasn’t announced plans for the Brickell site, it sits near a development being built by Swire Properties Inc., the U.S. real estate arm of the Hong Kong-based firm Swire Properties Ltd. Swire U.S. is currently building Brickell City Centre, a $1.05 billion mixed-use development.Other planned Miami projects are also recruiting Chinese investors. SkyRise Miami tower developer Jeffrey Berkowitz is looking to raise money for his project from foreign investors seeking permanent residency in the U.S. through the EB-5 visa program. SkyRise Miami is a proposed 1,000-foot high steel and glass structure that Berkowitz has called Miami’s version of the Eiffel Tower. Once completed, SkyRise Miami will be the largest observation tower in the U.S.Passed by Congress in 1990 to encourage foreign investments in the U.S., the EB-5 program grants permanent U.S. residency to investors (as well as their immediate family members) who create at least 10 domestic jobs and contribute at least $500,000 to $1 million in a U.S. business venture. About 8,000 people from China received EB-5 visas in 2014. No other country had more than 200 applicants.
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating 95 years of service to Realtors, the buying and selling public, and the communities in South Florida.

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New China, US, EU post-2020 plans reduce projected warming – Climate Action Tracker

Posted by fidest press agency su martedì, 9 dicembre 2014

Lima_Peru_01Lima. For the first time since 2009 the Climate Action Tracker has calculated a lower projected warming over the 21st century than before – because of the new proposed post-2020 actions from China, the US and the EU. However, this is still not enough to limit warming below 2˚C. The Climate Action Tracker is an assessment by four research organisations: Climate Analytics, Ecofys, NewClimate Institute and the Potsdam Institute for Climate Impact Research, assessing government pledges and actions against what’s needed to limit warming below a 2°C increase above preindustrial levels, and against the goal of bringing warming below 1.5°C by 2100. Today’s update was released at the climate talks in Lima. If China, the United States and the European Union, who together comprise around 53% of global emissions, fully implement their new, post-2020 plans, they would limit global temperature rise to around 3˚C by 2100, between 0.2˚C and 0.4˚C lower than it would have been prior to their announcements. These announcements are more ambitious than previous commitments, and represent significant progress, but remain insufficient to limit warming below 2˚C. “China, the US and the EU are proposing additional action that, if implemented, would reduce projected warming to around 3degC, which is better than it would have been but still substantially above the almost universally-agreed goal of holding warming below 2°C,” said Dr Louise Jeffery of the Potsdam Institute for Climate Impact Research. “In the context of increasing momentum towards a global agreement to be adopted in Paris in 2015, this represents a very important first step towards what is needed,” said Bill Hare, Executive Director of Climate Analytics.“Tempering this optimism is the large gap that remains between the policies that governments have put in place that will lead to warming 3.9°C by 2100, compared to the improvements they’ve made in their promises.“These new developments indicate an increasing political will to meet the long-term goals, and it is encouraging that the EU and US are putting their pledges closer to a direct path to their 2050 goals, rather than relying on delayed, rapid action post-2030,” said Hare.
“We estimate that China will likely achieve its 2020 pledge and the objectives stated for 2030, reaching 20% share of non-fossil fuels in a manner that is consistent with peaking CO2 emissions by 2030. Levelling emissions off after 2030 has a major positive effect on global warming in the 21st century,” said Niklas Höhne, Founding Partner of the NewClimate Institute.“However, China’s post 2020 emissions levels remain unclear and difficult to quantify – an important point when considering rules and ways to measure the climate action governments have to table next year on the way to Paris.“China’s peak by 2030 falls somewhat short of a 2°C pathway. However, if emissions peak just five years earlier, this could make a very big difference and move them very close to a 2°C pathway,” said Höhne.He noted that with its current and full implementation of its proposed policies, the US appears likely to meet its 2020 goal of 17 percent. However, further measures will be needed to meet its newly-proposed 2025 goals.The EU’s current policies put it on a good trajectory toward meeting its 2020 target. However, with current policies the EU is not on track to meet its more ambitious conditional target of 30% emissions reduction below 1990 levels by 2020 and the 40% reduction target by 2030.The Climate Action Tracker noted that Governments like India could take further action. Recent discussions indicate that India could be considering putting forward in 2015 a peak year for emissions between 2035 and 2050 which, depending upon the level at which this peak occurred, could be consistent with a 2°C pathway.In today’s update, the CAT has also assessed multiple countries and made them available on its website.The assessments find that China, the EU and Brazil’s currently implemented policies will be sufficient to meet their pledge, even though the all of these pledges could be much improved.Japan, Russia and Ukraine are also achieving their pledge, but this is primarily due to the lack of ambition in their targets. At the other end of the scale, Australia, New Zealand and Norway are far away from achieving their pledges. Most other countries also still have to implement additional policies or purchase international emission units to achieve their pledges.“There is considerable diversity between countries both in terms of the ambition level of their reduction pledges and the actual translation of these pledges into policy action on the ground. If all countries followed the leading country on both tasks, the goal of limiting warming to below 2˚C could be within reach,” says Professor Kornelis Blok, Director of Science at Ecofys.Of the 22 countries the Climate Action Tracker analysed, only five are projected to meet their 2020 pledges, with 13 exceeding (an assessment of the remainder has not been possible). Very few of the pledges are consistent with limiting warming below 2°C. The overview below shows, for the first time, the emergence of a decline in emissions (if pledges to 2050 were fully implemented) compared to the previous continuous increase in a pathway based on current policy projections. This decline, however, is still small. (photo font Wikipedia)

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Debate on plans to use EU Passenger Name Record (PNR) data to fight terrorism

Posted by fidest press agency su mercoledì, 12 novembre 2014

commissione europeaA draft law that would oblige airlines to hand EU countries the data of passengers entering or leaving the EU, in order to help fight serious crime and terrorism, will be discussed with the Commission and Council in the Civil Liberties Committee at 11.30. Debate on the EU Passenger Name Record (PNR) proposal, tabled in 2011, has gained momentum due to worries that Europeans returning home after fighting for the so-called “Islamic State” could pose a threat to the EU’s internal security.The EU PNR proposal, presented by the Commission in February 2011, would oblige air carriers to provide EU countries with the data of passengers entering or leaving the EU for use in preventing, detecting, investigating and prosecuting serious crime and terrorist offences.The draft directive was rejected by the Civil Liberties Committee in April 2013 by 30 votes to 25. MEPs voting against questioned the necessity and proportionality of the proposed EU scheme to collect airline passengers’ data, while those voting in favour highlighted its potential added value for EU counter-terrorism policy. In June 2013, Parliament decided in plenary session to refer the matter back to the Civil Liberties Committee.Debate on the proposal has gained momentum due to concerns over possible threats to the EU’s internal security posed by Europeans returning home after fighting for the so-called “Islamic State”. On 30 August 2014, the European Council called on Parliament and Council to finalise work on the EU PNR proposal before the end of the year.PNR data is information provided by passengers and collected by air carriers during reservation and check-in procedures. It contains several different types of information, such as travel dates, travel itinerary, ticket information, contact details, and means of payment used.

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On Fiat’s Strategy and Plans for Russia

Posted by fidest press agency su venerdì, 2 marzo 2012

Fiat 131

Fiat 131 (Photo credit: JoRDaN-YeaH!♦♣♥♠)

London. The Russian SUV segment looks really promising – sales are expected to increase by 87% by 2018, surpassing the 1 mln mark and capturing around 25% share of the light vehicle market (increasing from current 22-23%). That is the reason why most of the global OEMs look at this segment with high interest. Hence Fiat’s plan to start local production of Jeep brand makes perfect sense. Although being economically challenging (it usually takes 5-6 years for an automotive factory to start paying off initial investment, and by that time Russia will decrease its imports tariff on new cars significantly from 30% in 2012 to 15% by 2019 as a result of joining the WTO) local production will also allow Fiat to support its dealership network, which is crucial to support its long term growth in Russia. ZIL also seems to be an interesting partner for Fiat in terms of LCV production. Favorable location, experience in commercial vehicle segment, high availability of unused production capacities and government support are the key factors which should make this cooperation successful and to strengthen Fiat’s position in a light commercial vehicle segment in Russia. Fiat’s international strategy is to boost sales outside domestic boundaries, to be less dependent from sluggish Italian and Central European markets and be able to exploit the expansion of BRIC countries, especially Russia. It is Fiat’s aim to heavily invest in the Jeep brand to reinforce his image in Europe, capitalising the international recognition and the expertise of the iconic brand in SUV and CUV model segments. Jeep already started the renewal of its range with the brand new Grand Cherokee, which is helping Fiat-Chrysler group to have higher margin sales in Premium SUV segment. The production in Russia will be a very good opportunity to extend Jeep sales internationally.It will also be possible for Fiat to complete the offering by launching a new low cost C-Sedan and new models to the current range of already successful LCV vehicles. Overall, both Fiat and the Russian automotive industry should be able to benefit from this cooperation, yet it will depend on Fiat’s strategy in the Russian market which is becoming really challenging as key global OEMs already set their foot in this lucrative market.Pietro Boggia and Vitaly Belskiy represent the Automotive & Transportation practice at Frost & Sullivan, global consultancy.
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company’s Growth Partnership Service provides the CEO and the CEO’s Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit

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Fukushima and nuclear power in Europe

Posted by fidest press agency su venerdì, 18 marzo 2011

Frost & Sullivan nuclear market experts Jonathan Robinson and Enguerran Ripert comment today on the energy crisis in Japan following the earthquake and tsunami. It is still too early to say exactly how damaging the Fukushima incident will be for the nuclear power industry, but we can speculate on the potential impact on Europe. Prior to the explosion, a number of European countries had been bringing forward plans to develop new nuclear projects – what could happen now? In the short-term, the impact is already clear. Safety checks for plants will be tightened up and life extension decisions are likely to be delayed; the talk from politicians will be of making sure existing plants are safe as opposed to discussing new units. But the longer-term impact will likely depend on how this current situation plays out. Frost & Sullivan has outlined three scenarios below.
Scenario 1: The situation is contained in the next 48 hours, the media firestorm subsides and the consensus is that the radiation impact is negligible. This is the best case scenario and gives the greatest potential for nuclear. Even under this scenario, there is a significant chance that Angela Merkel decides not to risk the wrath of the German voters in state elections through the course of the year and reverses the life extensions granted in 2009. The Italian referendum on allowing new nuclear (scheduled for June) would likely be defeated, unless it is delayed. Even a delay may not be enough; the opposition left parties that are currently tipped as most likely to form the next government are broadly opposed to nuclear and could abandon a future referendum or effectively block plans for new plants. France would reaffirm its commitment to nuclear power, Central and Eastern European countries such as Poland, Romania and the Czech Republic would push ahead with new units, following increased safety assessments. The delays caused would be minimal, given that many projects are currently on hold due to financing constraints and also lack of electricity demand caused by the economic downturn. Areva’s and other competitors’ PWR designs would gain an initial edge on BWRs.
Scenario 2: The situation is not controlled within the next 48 hours and critical radiation leaks are still a risk to the immediate surroundings. There is still no substantial evidence that the radiation will damage public health The German closure program is re-instated and Italy is almost certain to be a no for nuclear. UK public opinion starts to swing against nuclear and the government brings forward the closure dates for older reactors. Concerted opposition in the UK deters utilities from bringing new projects forward, leading to further substantial delays. The private sector’s concern over the viability of nuclear power increases substantially, making it almost impossible for state utilities that lack capital funding to find it at a price that makes projects commercially viable. Technically, reactor designs will need to carry autonomous power systems protected from external damage such as terrorist attacks and tornados and be able to run for an extended period of time without grid supply or refuelling.
Scenario 3: The situation deteriorates to a full meltdown, drawing in technical emergency support from other nuclear countries. The risk to public health increases, with significant risk of contamination within a weather-influenced radius.Nuclear projects indefinitely delayed across Europe, with even France reluctant to consider constructing any new plants. There is high political pressure on countries to close BWR reactors that are of the same age. Technically, BWRs become the focus of intense scrutiny compared with PWRs which use more internal safety loops amongst other features. Fusion projects ITer and HiPER would gain further momentum in the longer run, but would face further safety scrutiny which will further delay schedules. Research radiation absorbing materials, intelligent nanotech for specific use in a nuclear plant environment will be of increased interest, but nuclear power would still play a part of the overall global energy mix.Of course all these scenarios do not consider such factors as the future price of carbon, climate change pressures or the potential discovery of new gas deposits, all of which could benefit or derail nuclear. One thing is certain though – the future of nuclear in Europe is once again in significant doubt.

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Election of Scott Murphy to Congress

Posted by fidest press agency su sabato, 25 aprile 2009

From Obama: “I want to extend my heartfelt congratulations to Congressman-elect Scott Murphy for his victory in New York’s 20th Congressional District. With this hard fought win, Scott has shown he is willing to fight the tough battles on behalf of the people in his district. As a candidate, Scott courageously championed the economic plans we need to lift our nation and put it on a better path, and he will continue to do so in Congress.  With his proven record of creating high paying jobs and standing up for Upstate New York, Scott will bring to the nation’s capitol the change New Yorkers need”.

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