Business travel may never fully return, hurting hotel stocks, Morgan Stanley says

first_img– Advertisement – – Advertisement – (This story is for CNBC PRO subscribers only.)Business travel may never return to its pre-pandemic levels, hurting hotels over the long term, Morgan Stanley said Friday in a note to clients.The firm’s analysis is based on an October survey of around 200 corporate travel managers who oversee $8 billion in travel spend. The managers said they believe travel spend in 2021 will be 53% below 2019’s levels, and that beginning in 2022, 22% of meetings will be conducted virtually. Grand Hyatt at SFOSource: SFO Airport – Advertisement –last_img

The pain stops the excessive apartmentization

first_img“The law says that we may prepare new construction zones when the existing ones from the spatial plans reach the level of 80 percent of construction. As we are very close to that percentage, the municipality will soon have to find new construction zones within which we will allow construction, but as we do not want these areas to experience the fate of apartmentization, the municipality has the opportunity to adjust construction conditions to certain types of construction.”, Said Marinkovic. He notes that the idea arose after the municipality realized that they would have to adopt new spatial plans because their previous construction zones were mostly filled. As they point out from the Municipality of Bol, the idea is to allow the construction of a building with a ground floor and a maximum of one floor, but with special attention to the proportion, where special focus will be on horticulture or under the slogan smaller buildings with large green areas. The Mayor of Bol, Tihomir Marinković, explained that the municipality plans to allocate future construction zones in the area of ​​the administrative unit for two specific types of construction. Namely, these are smaller apartments for workers and luxury villas with a ground floor and a maximum of one floor. One of them is Bol on Brač, which is the first administrative unit in Croatia with the initiative to limit the possibility of building tourist apartments. The reason for this is the example of certain local self-government units whose infrastructure practically broke under the burden of Zimmer Frei, reports Jutarnji list. Source / photo: Jutarnji list; Pixabaycenter_img In the Municipality of Bol, there were a total of 2018 beds in 8.300, but it is not known how many of them refer to beds in private accommodation. A good part of these beds are hotel beds, mostly those from the Bluesun group. Last year, the municipality made a total of 102 thousand arrivals and over 600 thousand overnight stays. One form of construction is housing for workers, and the other form of construction is luxury villas that could be used for housing or rent, but which, in order to prevent high density of housing, will mean less construction on larger plots of land. Some local self-government units have decided to shift the burden of the fight against apartmentization to themselves, when the state has been refusing to do so for years. last_img read more

Indosat turns to profit after booking loss in 2018

first_img Topics : “As we move forward, we aim to continue to play a leading role in Indonesia’s digital ecosystem and deliver further improvements in our services and customer experience that will create value for our stakeholders,” said Al-Neama.Indosat plans to set aside a capital expenditure of between Rp 8.5 trillion and Rp 9.5 trillion this year to support its efforts to reach a growth target that is “in line with market revenue growth”.The company has taken further steps to improve its financial situation by laying off 677 employees as part of changes to its organizational structure. It aims to be more agile and focus on customers and market demand.Indosat director and human resources chief Irsyad Sahroni said in a statement on Thursday that 90 percent of the laid-off workers had agreed to the compensation packages offered by the company. He made the statement following a visit by the House of Representatives Commission IX overseeing manpower on the same day.“We told [the commission] that our business reorganization has run according to the plan and has been well accepted by the affected employees, [that the company has] taken fair steps in line with prevailing regulations and has communicated directly and transparently with all employees during the process,” Irsyad said.“This was a difficult [decision] to make but necessary for Indosat Ooredoo to survive and grow.”However, Indosat workers’ union conveyed a different message, saying it “is thankful and warmly welcomes the House Commission IX and the Manpower Ministry’s joint decision to ask Indosat Ooredoo’s management to halt the lay-offs”.“The Indosat workers’ union calls on Indosat Ooredoo’s management to […] to find the best solution for the employees and the company in accordance with prevailing laws and the collective working agreement,” the union said in a statement on Thursday. It also sold 3,100 telecommunications towers to PT Dayamitra Telekomunikasi (Mitratel) and PT Professional Telekomunikasi Indonesia (Protelindo) in an all-cash transaction amounting to Rp 6.39 trillion.“This sale will support Indosat Ooredoo’s strategic plan to further improve our network experience, thus [improving our services] to customers,” Indosat CEO Ahmad al-Neama said in a statement on Thursday.“We have invested to expand our 4G network coverage and improve our performance. These steps have contributed to an increase in our subscriber base and data traffic volume.”Stocks of the company, traded at the Indonesia Stock Exchange (IDX) with the code ISAT, fell by 4.6 percent on Thursday against the Jakarta Composite Index’s (JCI) loss of 2.5 percent. The stocks have lost almost 37 percent of their value in the last year, Bloomberg data showed.center_img Publicly listed telecommunications provider PT Indosat booked a significant profit in 2019 after recording a loss in 2018, thanks to tower sales and improvements in its cellular business.Indosat recorded a net profit of Rp 1.56 trillion (US$111.2 million) throughout 2019, bouncing back from a loss of Rp 2.43 trillion in 2018. The company pocketed Rp 26.1 trillion in total revenues or higher, almost a 13 percent year-on-year (yoy) increase as its cellular business grew robustly.Last year, Indosat’s cellular business pocketed Rp 20.7 trillion in revenue or a 14.7 percent yoy jump as data traffic soared by more than 71 percent.last_img read more

Cattle station sold for massive $35m via online auction

first_img Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Nardoo cattle station sold for $35m under the hammer via Ray White Rural QLD.A giant Queensland cattle station has sold for $35m via online auction – the biggest price fetched under the hammer by one of the country’s leading agencies this year. Eleven bidders registered to bid on the 97,500ha Nardoo cattle station, with the first bid coming in at a whopping $20m. MORE: New weapon for property buyers Nuns sell Brisbane laundry for $27m Don Algie cracks open his land piggybankcenter_img Nardoo cattle station was the biggest under the hammer price fetched across Ray White so far this year.Bill Seeney of Ray White Longreach and Ray White Rural Queensland principal Bruce Douglas facilitated the sale that was “the highest under the hammer price across Ray White this year”.“Interest came almost exclusively from larger grazier families around Queensland,” Mr Douglas said. “It’s good cattle country and very tightly held, properties don’t come up very often in the area so buyers jumped on it.” Stunning scenery across the station.He said the property saw strong interest all the way through the sales campaign.“It was a good result, we thought it would be in that area (the price). Grazing cattle properties are exceeding expectations at the moment,” he said. The massive cattle station sold to a local Cloncurry grazier family. Outgoing owners Peter and Ann Wollett offered the property up for auction with cattle and plant machinery. The station has a carrying capacity of 8000 cattle and is located 280km northwest of Cloncurry. The classic homestead at Nardoo station.More from newsParks and wildlife the new lust-haves post coronavirus8 hours agoNoosa’s best beachfront penthouse is about to hit the market8 hours agoMr Douglas said most of the strongest interest came from large grazing families.“A lot of them are expanding their holdings, but they’re all Australian families,” he said. “The industry has definitely turned the corner with the cattle market picking up and with interest rates so low it really helps.” Among other big cattle station sales in Queensland this year according to BeefCentral was Dooruna 100 west of Moranbah which sold for $27m to Goondiwindi family the Duddys.As well, Terrica, 56km north west of Stanthorpe, sold in August to Grimwade & Gordon for $14m, it said, while Whyenbirra, 132km south west of St George sold for $4.3m to Robert Woodward in late August. LATEST QLD REAL ESTATE NEWS Auction set for epic Gold Coast mansion once listed for $45mlast_img read more

U.S. Department of Justice closes Vantage Drilling bribery probe

first_imgOffshore drilling contractor Vantage Drilling International said on Wednesday an investigation into the company’s possible violations of the Foreign Corrupt Practices Act regarding alleged improper payment in Brazil had been completed.The company said it had received a letter from the United States Department of Justice  acknowledging Vantage’s full cooperation in the DOJ’s investigation concerning possible violations by Vantage of the Foreign Corrupt Practices Act, and indicating that the DOJ has closed its investigation without any action.Vantage reminded that the investigation had been launched in 2015 from allegations of improper payments to former officials of Brazil’s national oil company Petrobras in connection with the contracting of the Titanium Explorer drillship to Petrobras.Ihab Toma, Vantage’s Chief Executive Officer, stated, “We are very pleased with the closure of the DOJ’s investigation. Vantage has been, and remains, firmly committed to conducting its operations in compliance with all applicable laws and regulations, including the FCPA.”It is the Company’s understanding that the parallel investigation by the SEC remains open at this time, and Vantage continues to cooperate with the SEC with regard to that investigation, Vantage said.To remind, in July 2015 news broke out that Brazilian police had arrested a former Petrobras official, Jorge Zelada, who allegedly received bribes related to drilling rig contracts.According to Reuters, which then cited Prosecutor Carlos Fernando dos Santos Lima, Zelada, who was a director of the Petrobras international branch between 2008 and 2012, had been accused of possibly having taken bribes on a drilling contract for the Vantage Drilling-owned Titanium Explorer drillship.Vantage denied the allegations saying there was “no evidence that would substantiate any allegation of improper activity by Vantage in connection with the award of the contract,” and any suspicion of some form of wrongdoing by Vantage was without merit.Offshore Energy Today Stafflast_img read more

Pelagic Research Services stays on ONC task

first_imgPelagic Research Services (PRS) will again provide ROV services for Ocean Networks Canada (ONC). It will be part of the team aiding to continued work on ocean observatories for September 2020. Pelagic Research Services has just returned from a 16-day expedition supporting Ocean Networks Canada for the continuing “Wiring the Abyss” project. Equipped to perform heavy lift and fine scale manipulation of scientific instruments and sensors, PRS will also be providing subsea navigation services on this project, for both ROV tracking and precise instrument placement and recovery. With some days lost to weather, PRS had 11.5 available days to dive, completing 12 dives, with an average 11 hours off deck. “The work of ONC is vital to increasing both Canada’s and the world’s understanding of our ocean systems. PRS CEO and co-founder Edward Cassano, said: “ONC trusts PRS ability to achieve expedition objectives, which is demonstrated by our continued selection for this work.” All operational objectives completed other than those delayed due to weather.center_img PRS’ deep sea ROV system Odysseus is to mobilise on the Canadian Coast Guard ship John P. Tully for a 14-day expedition. Water depths for this project will include high-current, low-visibility environments off the Fraser River, as well as extensive operations at greater than 2200 metres in the hydrothermal vent fields. Using an integrated iXblue Inertial Navigation System coupled with a Nortek Doppler Velocity Log, PRS was able to achieve outstanding navigation results in the challenging marine environment of the Endeavour Hydrothermal Vents. This included deployment and recovery of multiple packages weighing over 2,000 pounds with complex instruments, while making dozens of connections at the Neptune observatory site. “The ROV system and team always work very well with the ONC team. The latest expedition in June resulted in little down time for maintenance and the new system upgrades to the vehicle were major operational time savers”, says Ian Kulin, director Marine Operations, ONC Working with the ship’s crew as well as the ONC team to ensure and maintain efficiency, PRS was able to deploy for 12-hour per day operations over the course of the 16-day operation, predominantly focused on deep sea. Wiring the Abyss project last_img read more

Army, rebels accuse one another of violating truce

first_imgILOILO City– Following the April 7 clash between government troops and rebels in SitioAguilan, Barangay Panuran, Lambunao, Iloilo the Philippine Army’s 3rd infantryDivision (3ID) and the New People’s Army (NPA) accused one another of violatingtheir respective unilateral ceasefire. OnMarch 25, the Communist Party of the Philippines (the political arm of theNPA), made a similar declaration and covering the same period. Therebels withdrew toward Barangay Agcarope, Janiuay town. They were believedto be from the Baloy Platoon, Central Front Committee, Kilusang RehiyonPanay of the NPA and led by Ka Kandoy. “Thesoldiers deployed in Lambunao were not fighters,” insisted 3ID spokespersonArmy Captain Cenon Pancito III. “We have no choice but to engage (the rebelsbecause we were) being attacked. Nandoonpa rin ang aming duty to protect the people.” Armysoldiers recovered from the encounter site a rifle and bullets. Theybelieved they were able to hurt or even kill some rebels, too, and this wasbolstered by reports from village residents. PrivateFirst Class Mark Nemias of Madalag, Aklan was killed. Ina statement, the NPA’s Coronacion Chiva “Waling-waling” Command claimed troopsof the Army’s 301st Infantry Brigade (IB) fired at them first.center_img TheArmy soldiers and rebels exchanged fire at around 5:45 a.m. It lasted forsome 20 minutes. Accordingto the 3ID, troops of the 301IB were in the area for COVID-19 information disseminationbut the rebels fired at them. Noso, insisted the 3ID. OnMarch 19, President Rodrigo Duterte declared a unilateral ceasefire until April15, citing the coronavirus disease 2019 (COVID-19) pandemic. “Peopleof the barangay reported have seen rebels carrying wounded or dead comrades,”said Police Colonel Paul Kenneth Lucas, director of the Iloilo PoliceProvincial Office./PNlast_img read more

David Allen Cantwell

first_imgDavid Allen Cantwell, 57 Years, of Aurora, Indiana, passed away November 5th, 2016David was born April 3, 1959 in Dearborn County, IN, son of the late Harland Cantwell and Alberta McFadden Cantwell.David enjoyed watching football. He was an avid Bengals, as well as, Cincinnati Reds fan. He enjoyed watching television, and gambling on the riverboats. Most of all, David enjoyed spending time with family.Surviving are wife; Sharon Cantwell of Aurora, IN., children; David (Jamie) Cantwell, Marlana ( Paul ) Lack and Joseph Cantwell all of Aurora, IN., step-children; Terry Smith of East Enterprise, IN., Patty (Carl) Cantwell, J.R. Smith, and John Smith all of Aurora, IN. siblings; J.R. (Donna) Cantwell of Ross, OH., Joyce Lyttle of Dillsboro, IN., Francine Engelhardt of Panama City, FL., Irma (Jeff) Underwood of Rising Sun, IN., Carl (Patty) Cantwell of Aurora, IN., Timmie (Cheryl) Cantwell of Gardners, PA., and Charles (Grace) Cantwell of Crawfordsville, IN., 19 grandchildren, and 3 step-great-grandchildren.David was preceded in death by his parents, and brothers; Terry Lynn Cantwell, and Tommy Cantwell.Friends will be received Tuesday, November 8, 2016, 5:00 pm – 8:00 pm at the Rullman Hunger Funeral Home, Aurora, Indiana.Services will be held at the Funeral Home, Wednesday at 11:00 am with Reverend Michael Lawson officiating.Interment will follow in the River View Cemetery, Aurora, Indiana. Contributions may be made to defray funeral expenses. If unable to attend services, please call the funeral home office at (812) 926-1450 and we will notify the family of your donation with a card.Visit: www.rullmans.comlast_img read more

Bulldogs Harriers Participate At EC Invite

first_imgBatesville XC traveled to East Central Saturday morning for their 11 team Invitational.  Thankfully the rain came through in the night and early morning allowing race time to be dry, but leaving the course a little wet and muddy and the air a little cooler, but still muggy. Although everyone competed together, the results were split up into “big” schools and “small” schools.As a team, Batesville’s boys won convincingly by scoring only 24 points with East Central coming in 2nd with 51 points.  On the girls side, they tied with East Central both scoring a solid 39 points, however, coming down to the 6th runner, East Central nudged ahead of Batesville to claim the victory.  The Bulldogs did claim the individual champion in each race.  Liz Loichinger led the big schools for the girls pushing ahead in the final 400 of the race and winning by 6 seconds with a time of 20:49.  Then in the boys race, after an even race through the 3K with Taylor High School’s Chase Grauel, Ean Loichinger pulled ahead to a commanding lead finishing 1st by over 20 seconds ahead of 2nd place with a time of 17:04.The Bulldogs also crowned the champion of the boys JV race as it was junior Luke Esser coming across the finish line first (20:31), 11 seconds ahead of teammate Daren Smith.  Awards were given to the top 15 in the varsity races and Batesville claimed 5 of those spots in each of the races.  Besides our champions, other award winners were: Lily Pinckley, 3rd, Sarah Ripperger and Trysta Vierling, 10th and 11th respectively, just .1 separating them and finishing off the girls were Katie Olsen, 14th. For the boys: Adam Moster, 3rd, Joshua Myers, 4th, Benjamin Moster, 6th and Dillon Murray, 10th.  On the reserve side, awards were given to the top 10, so besides Luke and Daren (1st & 2nd), Luke Nuhring, Alex Livers and Landon Gutzwiller came through in 8th, 9th, and 10th.  For the girls it was Britany Venis who raced through in 4th.  Congratulations to all award winners.  The Bulldogs did have 1 personal record broken and that was Levi Lowery.  Way to go Levi!The Bulldogs will have a week of training this week to prepare for a big meet in Indianapolis on Saturday at Ben Davis High School where they will take on many 5A schools. Good Luck!Courtesy of Bulldogs Coach Lisa Gausman.last_img read more

Speckman leads start to finish at Arlington opener

first_imgARLINGTON, Minn. (May 6)  – Matt Speckman was super in a flag-to-flag run to the B&B Racing Chassis IMCA Stock Car feature, on opening night Saturday for the 37th season at Arlington Race­way.Speckman led the distance with Chad Schroeder on his tail throughout. Dean Cornelius and Dan Mackenthun traded spots a couple times with Cornelius taking third at the end and Matt Schauer getting around Mackenthun to take fourth at the finish.Clint Hatlestad topped the MN 93 IMCA Modified feature while 95.7 the Rock IMCA RaceSaver Sprint Car checkers flew for Michael Stien.The Unhinged Pizza IMCA Northern SportMods saw two different leaders, Eric Bassett through the first seven circuits and Justin Remus the rest of the way.Eighth starting Cory Probst was quick to get back to his winning ways in the Premier Logistics IMCA Hobby Stocks and the Coors Light IMCA Sport Compacts saw a new car in victory lane as Alex Dostal led start to finish to win his first feature ever.Horejsi Graphics sponsored the best appearing car contest with the following drivers winning: Coors Light Sport Compact, Kyren Porter; Premier Logistics IMCA Hobby Stock, Matt Olson; Un­hinged Pizza IMCA Northern SportMod, Jeremy Brown; 95.7 the Rock IMCA RaceSaver Sprint Car, Trevor Serbus; B&B Racing Chassis IMCA Stock Car, Dan Mackenthun; and MN 93 IMCA Modified, Tim Pessek.last_img read more