zoom NYSE-listed owner and operator of tankers Navios Maritime Acquisition has seen its net income drop by 18 percent to USD 5.6 million in the first quarter of the year from USD 23.7 million reported a year earlier.The lower new income was due to a USD 20.4 million decrease in EBITDA and a USD 0.2 million increase in direct vessel expenses, partially mitigated by a USD 1.5 million increase in interest income, USD 0.7 million drop in depreciation and amortization and a USD 0.3 million decrease in interest expense and finance cost.The company’s EBITDA decreased to USD 37.4 million in the quarter ended March 31, 2017, compared to USD 57.7 million recorded in the first quarter of 2016. Navios Acquisition also said that its revenue stood at USD 64.4 million, down by 19.8% from USD 80.4 million seen in the first quarter of the previous year.The decrease was mainly attributable to the drop in market rates during the first quarter and a decrease in revenue by USD 3.8 million due to the sale of one MR2 product tanker in January 2016 and two chemical tankers in each of October and November 2016. “Our business model has two distinct characteristics. First, we seek long-term charters when available. This provides above market earnings during times in which period employment is unavailable and the spot rates are contracting. For the first quarter of 2017, Navios Acquisition’s average charter rate for its fleet was about 42% higher than the spot market average for this fleet,” Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition, said.“Second, we enjoy economies of scale through our relationship with Navios Holdings. Navios Acquisition’s operating costs were approximately 17% lower than the average of its listed peers. These efficiencies created estimated savings of USD 22.8 million in 2016,” Frangou added.Navios Acquisition currently owns 36 vessels, of which eight are VLCCs, 26 are product tankers and two are chemical tankers.As of May 16, 2017, Navios Acquisition had contracted 90.4% of its available days on a charter-out basis for 2017, expecting to generate revenues of approximately USD 183.1 million. The average contractual daily charter-out rate for the fleet is expected to be USD 17,833.
TORONTO — Home sales across the Greater Toronto Area fell nearly 15 per cent in November, compared with a year ago, as sale prices continued to see moderate growth, a suggestion that Canada’s largest city still remains a seller’s market.The Toronto Real Estate Board says there were 6,251 residential transactions recorded last month through its multiple listing service (MLS) system, down 14.7 per cent versus a year ago. On a seasonally adjusted basis, sales were down by 3.4 per cent compared with October 2018.The average sale price was up by 3.5 per cent year-over-year to $788,345. Adjusted seasonally, the average sale price was nearly flat, down by 0.8 per cent compared to October 2018.The MLS HPI composite benchmark price jumped by 2.7 per cent last month, compared with last year.TREB, which represents more than 52,000 real estate agents across the region, blamed the decline in sales to a “temporary upward shift in demand” in November 2017 prior to the new stress-test rules coming into effect.The board says the number of new listings hitting the market also fell in November, down 26.1 per cent to 10,534 from 14,260 when compared with the same month last year.“This suggests that, in many neighbourhoods, competition between buyers may have increased,” said TREB president Garry Bhaura in a release. “Relatively tight market conditions over the past few months have provided the foundation for renewed price growth.”Meanwhile, it says sale prices for lower-priced housing such as condos and semi-detached properties continued to show steady increases due to the stress tests and higher borrowing costs.Follow @LindaNguyenTO on Twitter.Linda Nguyen , The Canadian Press
New Delhi: Terming the current insolvency process and its outcomes as ‘super success, Ministry of Corporate Affairs sees total recovery amount touching Rs 2.8 lakh crore through resolutions with the settlement of two key accounts, including some others — Essar Steel, where financial creditors have approved the resolution and Bhushan Steel and Power. “The 100 cases that have been settled through resolution accounts, Rs 1.8 lakh crore have been netted which is not a small amount and the accounts sitting on margin (Bhushan Steel and Power & Essar Steel), another Rs 1 lakh crore along with some other mid-sized resolutions can come, so Rs 2.8 lakh crore out of Rs 10 lakh crore of NPA that time is not a small amount, IBC is a super success”, says MCA senior officials on the insolvency processes In case of Essar Steel, the CoC has approved the resolution process but the process got stuck after operational creditor Standard Chartered moved NCLAT for higher share from the funds. The debt-ridden steel firm had Rs 42,000 crore coming from the resolution plan of global steel major ArcelorMittal. JSW Steel had revised its offer for Bhushan Power & Steel from Rs 11,000 crore to Rs18,000 crore and later to over Rs 19,000 crore which the CoC had approved. And it is not just resolution process-led recoveries, the official said pre-resolution processes have also yielded results in 6,500 cases netting Rs 3 lakh crore on dead assets. “6500 cases settled involving claims of close to Rs 3 lakh crore where they have been have settled before admission. And now after 12 (A) has been introduced, another 100 cases which are at stages of 90% CoC approval are moving towards out of court settlements. Both (in and outside resolutions and NCLT) are happening. About 500 cases have got settled through the court process and 6,500 cases settled even before admission”, said the officials. Section 12 (A) of IBC allows for a withdrawal of an insolvency application if 90% of the creditors’ committee (CoC) by voting share approving it. MCA officials dismissed the notion of high haircuts through resolution process. They said: “It (IBC) is super success. There should not be any brouhaha over haircuts. Will anybody pay more than what is the value? Suppose an asset is used for 20 years, there is nothing more to it, there is a Rs 50,000 crore loan, liquidation value is Rs 1,000 crore, so you get (the creditors) Rs 1,000 crore only.” “Wherever a resolution has taken place, creditors are getting 200% of the liquidation value. So definitely value maximisation is the context, demand and supply will fix the value”, the officials said.
By Sana ElouaziRabat – Israeli authorities have just approved more than 1,100 new settler housing units in the West Bank, Peace Now NGO, which monitors settlement building, said in a statement on Thursday.Approvals were given on Wednesday by a defense ministry committee authorized to oversee settlement construction. “The government is attempting to destroy the possibility of a two-state solution and the prospects of peace,” Peace Now NGO said.“This agenda runs counter to Israel’s national interest, as well as the interests of everyone who seeks a peaceful future in the region,” the statement adds.The 1,122 housing units approved on Wednesday are at various stages in the process. Hagit Ofran of Peace Now told AFP that three hundred and fifty-two homes received final approval, while the others are at an earlier stage in the process.Following this decision, the European Union called on Israel on Thursday, to reconsider its plans to build new homes in the West Bank, recalling that any settlement activity is “illegal” and likely to undermine the viability of the two-state solution to the Israeli-Palestinian conflict.“The position of the European Union on Israeli settlement construction and related activities is clear and has not changed; any settlement activity is illegal under international law and undermines the viability of the two-state solution and the prospect of lasting peace, “said an EU spokesperson for Foreign Affairs in a statement.“The EU expects the Israeli authorities to reconsider and revoke these decisions,” the statement adds.Saeb Erekat, the secretary general of the Palestine Liberation Organisation, lambasted Israel’s move and said that it “continues with its plan to bury all the chances of a political settlement.”Erekat added that Israel is being “encouraged” by US President Donald Trump especially after he formally declared Jerusalem as Israel’s capital, move that has been condemned by the international community as unproductive, dangerous, and against international law.
28 February 2008Urging further measures to end the deadly tensions that erupted after disputed presidential elections in Kenya, Secretary-General Ban Ki-Moon warmly welcomed the agreement on principles for a coalition Government announced in Nairobi today. “The ‘Acting together for Kenya’ agreement marks a breakthrough toward resolving the crisis and gives hope to the people of Kenya for a return to democratic stability in their country,” Mr. Ban’s spokesperson said in a statement.The Secretary-General commended President Mwai Kibaki and Raila Odinga, the rivals in the disputed vote, for the spirit of compromise they demonstrated in reaching the accord, and paid tribute to former UN Secretary-General Kofi Annan and the Panel of Eminent African Personalities for their mediation efforts. The focus, Ms. Montas said, now must be on implementing the agreements reached thus far and coming to further accord on the longer-term issues which this crisis have brought to the forefront in Kenya. “Every effort should be made to involve the people of Kenya at all levels in the process,” she added. “Even as today’s agreements are celebrated, urgent attention is also still required to lessen tensions in the communities and to overcome the serious humanitarian situation in the country.”
13 November 2008Greek Cypriot and Turkish Cypriot leaders made good progress today in talks on the judiciary as part of broader United Nations-sponsored negotiations aimed at reunifying the Mediterranean island, a top UN envoy said. Greek Cypriot leader Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat will meet again on Monday to discus deadlock-resolving mechanisms, Secretary-General Ban Ki-moon’s Special Adviser for Cyprus Alexander Downer told a news conference in Nicosia after today’s session.Meanwhile their representatives and officials will hold further talks tomorrow on a range of issues that the leaders have referred to them. In May, the two leaders committed to a partnership that will comprise a Federal Government with a single international identity, along with a Turkish Cypriot Constituent State and a Greek Cypriot Constituent State, which will be of equal status.“They are working through the governance and power-sharing chapter and identifying issues,” Mr. Downer said, dividing these into three areas: agreement, disagreement but short-term prospects for negotiating, and significant disagreements to be discussed at a later stage.Governance and power sharing are central to resolving the problem of Cyprus, where UN peacekeepers have been deployed since March 1964 to prevent further fighting between the Greek Cypriot and Turkish Cypriot communities. Mr. Downer said he had no plans to increase the meetings from once to twice a week, nor did he feel that setting a deadline for conclusion would help.“I think the important thing is that they maintain momentum. Obviously there will be easier issues and more difficult issues, so the momentum won’t be straight-line momentum, but nevertheless they need to maintain momentum and not lose momentum,” he noted. “I think to set themselves official deadlines would actually make the process more difficult rather than easier.”
14 January 2009A senior United Nations official in the Democratic Republic of the Congo (DRC) called on one of the major militia forces engaging in deadly violence in the eastern region of the country to put down its arms and work towards a lasting peace. The Secretary-General’s Deputy Special Representative for the DRC Ross Mountain made his remarks after visiting a camp in South Kivu province set up to help combatants of the Mai Mai militia join the process of Demobilization and Disarmament and Reintegration (DDR). “The Mai Mai must understand that it is the moment to bring peace to the country and prosperity to their families,” said Mr. Mountain, adding that he was “pleasantly surprised” by the installations of the camp which can already accommodate up to 400 ex-fighters. He was also encouraged by the work of the Amani programme in managing the DDR of Mai Mai groups in South Kivu.The Amani programme was created to implement the January 2008 peace accord between the Government and rebels in the eastern Kivu provinces, apply the process of disengagement and affect the Nairobi communiqué, the November 2007 agreement under which the DRC and Rwanda have agreed to work together against threats to peace and stability in the region.Meanwhile, on-going talks between the DRC Government and the mainly Tutsi rebel militia Congrès national pour la Défense du people (CNDP) in Nairobi are aimed at ending the ongoing conflict centred in the east of the country, which has uprooted an estimated 250,000 people since late August, on top of the 800,000 already displaced mostly in North Kivu province.Other armed groups, including the Mai Mai, had been involved in the deadly violence – threatening a humanitarian crisis that could spiral out of control – some of which have been along ethnic lines.
Earlier this week, an inter-agency assessment team heard reports from many internally displaced persons (IDPs) of an attack in South Darfur on 23 February, when some 26 people were killed while travelling to Salakoyo, the UN Advance Mission to the country (UNAMIS) said.The UN, together with an African Union (AU) monitoring force, has been struggling to broker a peace accord and bring humanitarian relief to the area, where a UN-appointed inquiry commission says massive war crimes and crimes against humanity have occurred.In southern Sudan, where a peace accord in January ended Africa’s longest civil war, UNAMIS reported that there was a high risk of a measles outbreak in Ezo County and a vaccination campaign is under way.
As he briefed reporters in Geneva, Rupert Colville, spokesperson for the UN Office of the High Commissioner for Human Rights (OHCHR) said the unanimous adoption on 9 October of a law establishing the national body marked a significant step forward towards eradicating torture in Tunisia. Tunisia, he said, is the first country in the Middle East and North Africa to create such a national preventive mechanism, after ratifying in June 2011, the Optional Protocol to the Convention against Torture, which provides for the creation of such a preventive mechanism against torture in each State Party. The mechanism, the National Body to Prevent Torture, will be independent and have broad jurisdiction, including the power to visit all places of detention. Mr. Colville said that it should become operational as soon as the law is published, and ensure the respect and implementation of procedural safeguards for those deprived of their liberty. “The Subcommittee on Prevention of Torture, the biggest UN committee and the only one with a visiting mandate, will provide assistance and advice to that newly-established body,” he said. Under the Optional Protocol, the Subcommittee not only plays an advisory role, but also has unrestricted access to all places of detention in States that had ratified the Protocol. “Its experts visited police stations, prisons, detention centres, mental health and social care institutions and other places where people were, or might be, deprived of their liberty,” Mr. Colville added. He went on to say that the OHCHR Office in Tunisia – established two years earlier in the wake of the revolution – had played an important role in the establishment of the national body through debates and consultations, which brought together Tunisian Government actors, including the Ministry for Human Rights and Transitional Justice, and key non-governmental actors, including national and international civil society organizations. Mr. Colville reiterated that the adoption of the law is an important milestone during the ongoing transition in Tunisia, “and in particular in the effort to bring the country in line with international rule of law and human rights norms and standards.”
· Over the year-to-date the supermini and lower medium segment markets have contributed the largest volume to the market’s growth, but they, along with the mini segment, recorded a sharp decline in August volumes. MPV, dual-purpose (SUV), executive and luxury saloon segments have sustained their strong growth momentum. Market cools, ahead of further weakening expected in second half of 2010. · August will be the lowest volume month of 2010, and typically only accounts for 3.3% of annual sales ahead of the plate change in September. Last August over 16,000 cars or 25% of the market was reportedly through the scrappage scheme. · The Ford Fiesta was the best selling model in August and the year-to-date. DownloadClick to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) · Registrations fell 17.5% in August to 55,305 units compared with scrappage-fuelled 2009.· Decline marks second consecutive fall, a pattern expected to continue through to year end.· Volumes, however, are up 13.2% to date against last year, at 1,300,413 units. · Full year forecast suggests 2010 registrations will finish at 2m, up 1.2% on 2009. “New car registrations were down 17.5% in August and conditions will remain challenging through the rest of the year,” said Paul Everitt, SMMT chief executive. “The industry enjoyed a better than expected first half of the year and, despite the difficulties, SMMT is forecasting that new car registrations will close just ahead of 2009 figures.” · Diesel-fuelled cars once again saw their market share reach a new high, of 52.6% in the month, in part reflecting the drop in petrol-fuelled car registrations. · Over the first seven months of 2010 the market remains 13.2% above 2009 with private and fleet volumes up by a similar amount. In August, as in July, the fleet market continued to recover whilst private volumes fell away from the scrappage-fuelled levels of 2009. · The market for new ‘60’ plate cars is expected to decline by around 10% in September, from 367,929 units last year. The market is forecast to slow from the current annual running rate of 2.146 million units to 2.018 million units by the end of the year.
The No. 15 Ohio State field hockey team will square off with No. 8 Michigan State for first place in the Big Ten.The Buckeyes will head to East Lansing for their meeting with the Spartans Friday at 3 p.m.OSU is currently second in the Big Ten with a 3-1 conference record and the Spartans are alone in first with a 3-0 record. The winner will have the inside track to winning the Big Ten regular season championship and earning the number one seed for the conference tournament.Senior goalkeeper Lindsay Quintiliani and junior forward Jena Cacciatore have both stressed that winning the Big Ten is the team’s top goal this season.“We’re very confident this is our year,” said freshman forward Berta Queralt. A win over Michigan State would be a crucial step toward achieving that goal, she said.MSU holds the slight edge in the teams’ recent meetings, winning three of the last five. Both teams are riding hot streaks coming into Friday’s matchup. The Spartans are currently on a seven-game win streak, while the Buckeyes bring in a four-game win streak and have won 10 of their last 11.While the rankings seem to favor the Spartans, statistics are on the side of the Buckeyes. OSU leads the Big Ten with six shutouts this season — twice as many as the Spartans. Along with shutouts the Buckeyes are also atop the conference in goals against average with 1.38.The Buckeyes also edge out the Spartans in assists, due in large part to Queralt, who leads the Big Ten with 12.Queralt and forward Maria Briones have been named Big Ten Freshman and Offensive Player of the Week respectively. It is the second week in a row the teammates received the awards.Following Friday’s game, OSU will return home to face No. 13 Duke Sunday at 1 p.m. The game is Senior Day for the Buckeyes, as it is their final home game of the season.The Buckeyes will look to stay hot at home, where they are 8-1 this season, but a victory Sunday will be no easy feat.The Blue Devils enter the weekend with an overall record of just 8-7. However, their record is not a representation of their talent. Duke has played nine ranked opponents in their 15 games this season, including four games against the nation’s top three teams. Because of Duke’s tough schedule they have remained ranked in the top 20 all season.The Buckeyes are 2-3 this season against ranked opponents. The next two games will serve as a chance for OSU to prove it is among the nation’s elite.
FIFTEEN YEARS AGO the world promised to halve the number of people living in extreme poverty, send every child to primary school, and reduce the number of children dying before their fifth birthday and the number of women dying while giving birth. The goals, known as the Millennium Development Goals, should be achieved this year.Now the UN is discussing what comes next – what new global goals should be set to help millions of people to escape poverty and hunger.An agreement to include two new goals – on inequality and climate change – could transform lives, save our planet and leave our children a world that’s capable of sustaining them into the future. An historic opportunity is on the horizon. If countries agree on a common framework so much more can be achieved.Described as unrealistic and unattainable, the original MDGs were first dismissed as requiring too much progress too fast. Yet, since their adoption, the goal of cutting in half the proportion of people living in extreme poverty has been met.A major omission in the original targetsThe MDGs were effective; both in their simplicity and their focus. Yet the twin challenges of inequality and climate change can derail years of progress if we don’t act now to deal with them.By concentrating wealth and power in the hands of a few, inequality robs the poorest people of the support they need to improve their lives. And as climate change devastates crops and livelihoods, it undoes poor people’s efforts to feed their families.A plan for addressing inequality was a major omission in the original MDGs. We know that global poverty is declining, but income inequality is soaring and billions of people are being left behind by economic growth.In proposing a standalone goal to reduce income inequality, we back the proposal by former Chief Economist to the World Bank and Nobel Prize winner Joseph Stiglitz that the income of the top 10 per cent should be no more than that of the bottom 40 per cent.Recently, Oxfam revealed that the world’s 85 richest people have as much wealth as the poorest 3.5 billion. That figure was recently revised. Now the richest 66 have the same as the bottom half of humanity.Ignoring inequality again will undermine the struggle to eliminate poverty and injustice both at home and in developing countries. We can only lift up those at the bottom if we aim to dilute the extreme wealth at the top.Climate change is devastating cropsAt the same time, climate change is threatening to undo progress made in confronting poverty over the last decade. More than 800 million people face hunger because of changing weather patterns. Through its devastating impact on crops and livelihoods, climate change is predicted to increase that number by as much as 20 percent by 2050.We propose dedicated goals on climate change and energy, food and hunger, water, and risk, as well as integrating targets to reduce global warming throughout the framework. Action on climate change in the framework for development after 2015 could create significant political momentum and increase ambition for a strong global climate deal.We cannot hope to end extreme poverty if we don’t tackle the economic, political and social inequalities that are adversely affecting the poor at home and abroad.If we get it right, a bold new framework for global development next year, together with agreement at the UN climate talks in Paris, could provide the impetus for a transition to a more equal world – a world without the scourge of poverty and climate change.Jim Clarken is the CEO of Oxfam Ireland.Read: World’s wealthiest 85 people own same amount as half the global population
Anyone who keeps a close eye on the indie gaming scene knows that there’s one title everyone has been desperately waiting for. It’s called Fez and is being developed by Polytron and Phil Fish.The game has already won the Excellence in Visual Art award at the Independent Game Festival, but that was back in 2008 and we still don’t have a release date. However, Phil Fish was on hand with an almost complete game at PAX East 2011 to tell everyone it’s nearly done.As you’ll no doubt agree, the game is looking fantastic from the trailer above. While a multi-platform release was hoped for it now looks as though the game will only ever appear on Xbox Live Arcade. Polytron consists of two people, and as is pointed out in the interview below, targeting another platform would add months of development time for them. I think everyone just wants to play the game as soon as possible and therefore think it’s the right decision.The unique gameplay feature in Fez that has everyone intrigued is the 3D nature of the world. While it remains a 2D platformer, the world can be rotated allowing for some interesting level design and navigation puzzles. Polytron has also gone for a non-hazardous approach to gameplay meaning there are no enemies, no boss fights, and dying does not have any penalties.Fish describes the game as a Mario-Zelda hybrid with an open world environment for you to explore that’s reminiscent of how Metroid games are laid out. If it comes anywhere close to the quality of those games then I doubt Polytron will find it hard to get funding to port this game over to PS3, PC, and maybe even the Wii.We are almost as excited as the Destructoid interviewer about this game and can’t wait to get in on our 360s.
A lecture on challenge of climate change entitled Who’s Afraid of Climate Change? will be presented by Dr Nick Dallas PhD (Chemistry), BA, B.Com (UniMelb) on Thursday 6 September at the Greek Orthodox Community of Melbourne and Victoria at 6:45 pm. Climate change is looming as the greatest challenge facing humanity this century. A few years ago when Australia lost its pariah status by signing the Kyoto Protocol, there appeared to be considerable goodwill by the Australian public on the need for action. This goodwill has dissipated significantly as witnessed by the public opinion backlash before the introduction of carbon tax legislation, global uncertainties and cost of living pressures have unnerved citizens as other concerns take priority. An overview of the climate change challenge will be presented where risks, uncertainties and possible solution pathways will be outlined and assessed. For more information and to attend this lecture email email@example.com Facebook Twitter: @NeosKosmos Instagram
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Our sister sites PCMag and IGN have excellent guides up, so you can find out exactly what’s happening.Note: Terms and conditions apply. See the Amazon site for more information.For all the Prime Day deals, check out TechBargains.Our commerce group sources the best deals and products for the Geek Deals posts. We operate independently of Editorial and Advertising and may earn a percentage of the sale, if you buy something via a link on the post. If you are interested in promoting your deals, please contact us at firstname.lastname@example.org.
Galaxy Entertainment Group has released details of its under-construction Galaxy International Convention Center (GICC), described as Asia’s most technologically advanced event facility.Scheduled to open in early 2021 as part of Galaxy Macau’s Phase 3 development, GICC will cover 40,000 square meters of MICE space including a 10,000-square meter exhibition and conference hall. It will also be home to the 16,000-seat Galaxy Arena for concerts and sporting events.Details of GICC were unveiled this week at IBTM China – a MICE and business travel exhibition in Beijing – with Galaxy highlighting the venue’s advanced facilities, immersive technology, state-of-the-art audio-visual and lighting, latest communication system and flexible event space catering to multiple configurations and set-ups.The 10,000-square meter exhibition hall is notable for its lack of pillars, while other spaces will include an auditorium seating 650 guests for keynote sessions, ceremonies, performances and product launches; a banquet hall seating 2,400 guests; a 4,000-square meter conference hall consisting of three partitionable spaces; a ballroom catering for over 1,000 guests; a selection of dining options and a luxury lifestyle hotel with over 700 rooms.“We are honored to introduce state of the art MICE and Arena facilities to attract new visitors and complement the Macau Government’s vision of diversifying the economy and developing Macau into a World Center of Tourism and Leisure,” said Galaxy Entertainment Group Chairman, Dr Lui Che Woo.The opening of GICC will see Galaxy go head-to-head with Sands China when it comes to Macau’s MICE industry, with the new facility set to provide a long-awaited alternative to the expansive Cotai Expo at The Venetian Macao. Galaxy Arena will also provide another option for large-scale shows which have traditionally been limited to Sands’ 15,000 seat Cotai Arena.GEG Director of Operations Development for New Resorts, Scott Kreeger (third from left), with other dignataries at the launch of Galaxy International Convention Center and Galaxy Arena in Beijing.
Posted by Travelweek Group Monday, August 29, 2016 NEW YORK — The vast majority (95%) of Virtuoso travel specialists say they have seen active, adventure and specialty travel sales rise within the past 12 months. The same percentage sees demand for this style of travel increasing in the next two to three years.All survey respondents are advisors and preferred partners taking part in the Virtuoso Active and Specialty Travel (VAST) program.The top adventure destinations gaining in popularity are Iceland, Galapagos/Ecuador, Costa Rica & Chile/Patagonia (tie), New Zealand, Peru, Cuba, Antarctica, Arctic/North Pole, South Africa and Australia.“Adventure travellers are broadening their horizons beyond well-known European cities to seek new frontiers off the beaten path,” says the luxury travel specialist. “Latin America is especially popular, as active travellers can experience their desired combination of nature and culture there. Remote, unspoiled destinations such as Antarctica and the Arctic are also sought after by upscale adventurers.”The top activities preferred by active and specialty travellers are hiking/trekking, biking, kayaking, small-ship expedition cruising, food and wine, safaris/wildlife viewing, walking, photography, scuba diving and arts and culture.More news: Sunwing offers ultimate package deal ahead of YXU flights to SNU, PUJIn terms of demographics, the largest number – 41% – of adventure travellers are between 50 and 65, says Virtuoso. Almost one-quarter (24%) are between 35 and 50; 21% are 65+ and 14% are under 35. Couples, including honeymooners, are the most common type of adventure traveller. They are followed by immediate families, friends travelling together, solo travelers and multigenerational family members.Driving adventure travel’s popularity, as cited by respondents, are the desire to commune with nature, checking experiences off a bucket list and spending quality time together on family and multigenerational trips. Today’s older travellers are also more active due to improved longevity and health.Respondents also provided their top tips for adventure travel: “Challenge yourself by stepping out of your comfort zone and being open to new activities”; “Familiarize yourself with the culture of the destination by meeting interesting locals”; “Look at the world in a new way: gain a fresh perspective and possibly even change an opinion”; “Travel now, because some of these destinations are changing fast and may not be in this state in just a few years” and “Don’t try to do too much. Keep travel distances manageable and build in rest days and free time.”More news: War of words between Transat, Group Mach ramps upThe survey, conducted between February and April 2016, received input from 125 advisors and partners participating in the Virtuoso Active and Specialty Travel (VAST) program. Demand for adventure travel soars, especially to Iceland, Ecuador, Chile: Virtuoso survey Tags: Adventure Travel, Chile, Ecuador, Iceland, Virtuoso << Previous PostNext Post >>
Share Friday, January 4, 2019 Tags: British Columbia, Canada, Snow Storm, Weather About Latest Posts Alex Keerma Latest posts by Alex Keerma (see all) WestJet adds to network, nonstop flights between Austin and Calgary – May 3, 2019 Senior Travel Advisor – Peterborough Office – April 12, 2019 “I didn’t know she was married”: Kimpton’s social experiment inspires new themed rooms – March 6, 2019 By: The Canadian Press Two day storm departs B.C., but leaves flooded roads, avalanche danger behind << Previous PostNext Post >> VANCOUVER — Rainfall, wind, snow and winter storm warnings have been lifted for all of southern B.C. after a powerful system swept across the province leaving flooded or snow-clogged roads in its wake.On Vancouver Island, torrential downpours forced flood watches or high streamflow advisories for several waterways and the deluge also prompted a boil water advisory for all users of the Comox Valley water system, including residents of Courtenay and Comox.The Comox Valley Regional District says in a news release that severe rainfall has caused turbidity levels at a back-up pump station to rise above acceptable thresholds, triggering the need for the boil water notice.Environment Canada says the two-day storm dropped as much as 100 millimetres of rain on Port Alberni and parts of eastern Vancouver Island, equivalent to an entire month of rainfall, while more than 50 millimetres fell Thursday at Vancouver International Airport.In the mountains, Avalanche Canada says heavy snow has created a “high” possibility of slides on south coast and Vancouver Island mountains, as well as through most of east-central and southeastern B.C., meaning very dangerous avalanche conditions exist.More news: Rome enforces ban on sitting on Spanish StepsAn “extreme” avalanche ranking, which means natural and human-triggered avalanches are certain, remains posted for some regions along the Alberta/B.C. boundary throughout Jasper National Park and in the alpine and treeline regions of Banff, Yoho and Kootenay national parks.
Ginnie Mae Asks Lenders to Address ‘Churning’ Affordable Ginnie Mae homes HOUSING Lending mortgage Refinance risks 2018-02-08 Radhika Ojha February 8, 2018 684 Views Ginnie Mae, the government-owned corporation that attracts global capital into the housing finance system, has notified a small number of issuers in the Ginnie Mae multi-issuer mortgage-backed security (MBS) pool to take steps to address churning in its MBS program, the company said in a release on Thursday. Ginnie Mae’s efforts in this area have been designed to keep mortgage rates affordable for veterans and first-time home buyers, as well as to preserve the liquidity of the security around the globe. “We have an obligation to take necessary measures to prevent the lending practices of a few from impairing the performance of our multi-issuer securities, and thus raising the cost of homeownership for millions of Americans,” said Michael Bright, EVP, and COO at Ginnie Mae. Issuers who have been notified are expected to deliver a corrective action plan that identifies immediate strategies to bring prepayment speeds in line with market peers. In the event issuers are unable to demonstrate a path to improved performance, they would be restricted from accessing Ginnie Mae’s multi-issuer pools.“By addressing the anomalous performance of a few lenders, Ginnie Mae is acting to protect veterans, the broader Ginnie Mae program, the American taxpayer and the consumers we serve. We expect issuers receiving these notices to respond quickly, produce a corrective action plan and come into compliance with our program,” Bright said.“Churning” is a process where a lender solicits an existing borrower to refinance their current mortgage for a better offer with a different or the same investor. Some lenders use this practice to refinance a loan multiple times and generate profits for lenders.This notice from Ginnie Mae comes on the heels of its recent announcements on changes to its APM 17-06, Pooling Eligibility for Refinance Loans and Monitoring of Prepay Activity, and APM 18-02, Risk Parameters Applicable to Single Family Issuers programs.“We are focusing on outliers that are harming Ginnie Mae’s program, not at issuers that genuinely help support responsible lending,” Bright said. “The vast majority of our issuers fall squarely in the latter category, and we look forward to continuing to work with them to provide refinance opportunities to veterans, rural communities, and low to moderate-income homeowners.” Share in Daily Dose, Featured, News, Secondary Market
It might be great for the economy, but tourism seems to have been particularly irritating this northern summer for many European destinations.Rome, Milan, Florence, Venice, Paris, Hvar in Croatia, Athens – and now Barcelona in Spain – some of the destinations recently forced to take action to regulate tourist behaviour in the wake of their citizens’ discontent.Barcelona has joined the growing voices of anti-tourism sentiment this summer. On Tuesday, a group of protesters there slashed tyres on locked tourist bikes that sit in public bike racks and can be accessed via a smartphone app – in a deliberate act of sabotage.Last week, anti-tourism protesters in the city targeted an open-top tour bus as it pulled up outside the Camp Nou stadium of the city’s iconic football team FC Barcelona. The bus tyres were slashed, and passengers were harangued, many of them children who were distressed by the angry and unexpected assault. The attackers also sprayed the bus with the words ‘El Turisme Mata Els Barris’ – “Tourism Kills Neighbourhoods.”Locals and officials in Venice also say they are fed up with bulk tourism – cruise ship passengers taking shore excursions en masse and the culture of what Italy’s culture minister, Dario Franceschini, calls ‘eat and flee’ tourism. Europetourists