Accor signs for three properties in Djibouti | News

first_imgWe understand there is an enormous need for new hotel investment in Djibouti and Accor’s knowledge and expertise as a global hospitality leader will help us achieve our objectives.”Located in Djibouti city, the properties will share the location with the port of Djibouti, strategically located at the crossroads of one of the business shipping routes in the world, linking Europe, the Far East, the Horn of Africa and the Persian Gulf, making it the busiest waterway in the region.“This is a development we are very excited about as Djibouti is an attractive destination for business travellers and has a central geostrategic location due to its port,” said Mark Willis chief executive of Accor Middle East and Africa. – Advertisement – “This will be a first step for us in Djibouti and we look forward to being part of the country’s overall development.”Located in Djibouti city centre, Accor plans to open the first Pullman Living project in 2023, a new build project featuring 131-keys across one, two- and three-bedroom apartments. The property will be located in the heron district, nearby the new free trade zone, embassies and high-end residential neighbourhoods.Also in the heron district, after undergoing renovation, the existing property of Les Accacias operating since 2012, will be reopened under the Novotel brand. The project is expected to be completed in 2022, after renovation with the extension of 40-keys, making a total of 110 rooms.  This property will also represent the first mid-scale branded hotel in the node, where guests will be able to enjoy the outdoor restaurant and coffee shop, a swimming pool, fitness centre and gym.The third project will reside on the conversion of a heritage building which will be transformed into a 50-key hotel by 2022. This new MGallery will be located in the CBD district and across the ministries. At the horn of Africa, bordered by Eritrea, Ethiopia and Somalia the country also houses the largest military base in Africa. With its convenient and strategic location, the hotels should expect to welcome all types of travellers, including international investors looking for long-term stay options, leisure and family travels. Accor is expanding its footprint in Africa after signing a management agreement with Kamak Investment to manage its first properties in Djibouti.As part of its ongoing development strategy to expand its presence in sub-Saharan Africa, Accor is setting foot for the first time in Djibouti, with the launch of three hotels under the Pullman Living, Novotel and MGallery brands.- Advertisement – OlderOceania winners at the World Travel Awards unveiledcenter_img – Advertisement – Initially created as a real estate agency the founder, Houssein Mahamdoud Robleh diversified the activities of Kamak Investment over the years to cover different industries including security, maintenance, temporary work and the press. During the past eight years, the Kamaj Group expanded its real estate focus and invested in the central market of Riyad of which it is the private concessionaire and acquired two hotels.“We couldn’t think of a better partner than Accor to help us renovate and manage the two properties and the extended stay project in Djibouti City”, said Houssein Mahamdoud Robleh, founder of Kamaj Investments. – Advertisement –last_img read more

Read More →

PREMIUM‘Threat to democracy’: Minor parties lambast plan to raise legislative threshold

first_img#HouseOfRepresentatives house-of-representatives general-elections #Elections parliamentary-threshold election-bill #ElectionBill LOG INDon’t have an account? Register here Topics : Google Linkedin Forgot Password ? Facebook Three political parties that control a small number of seats in the House of Representatives have objected to a plan to increase the legislative threshold for the 2024 elections, arguing that it would undermine the country’s democracy.Major parties in the House are seeking to raise the requirement to acquire seats in the House from 4 percent of the national vote to 7 percent, in a draft bill dated May 6 to revise the 2017 General Elections Law. The proposal was reportedly first drafted by the Golkar Party, which received the third most votes in the 2019 elections with 12.31 percent, and the NasDem Party, which came fifth with 9.05 percent of the vote.The Democratic Party, the National Mandate Party (PAN) and the United Development Party (PPP) – the three parties at risk of losing representation in the House in 2024 if a higher threshold is introduced – demand th… Log in with your social accountlast_img read more

Read More →

Regions have yet to prepare post-pandemic economic recovery plan: BPKP

first_imgYusuf also said that regional leaders should prepare “a regional incentive scheme” to accelerate the recovery of the virus-battered economy in the country’s regions.Many regional leaders have said that the pandemic, which has brought many economic activities nearly to a halt due to mobility restrictions, resulted in a severe decrease in regional income.Read also: COVID-19: Jokowi urges ministry to reach out to poor families amid uneven aid distributionJakarta, for instance, saw budget revenue shrink by 47 percent in May, while Gorontalo reported a decrease of 17.5 percent in April. Yusuf also urged regional administrations to be more active in collecting data and registering local businesses affected by the economic crisis, as well as to prioritize economic aid for micro, small and medium enterprises (MSMEs) not covered by the central government’s assistance program.He also outlined several problems facing post-pandemic recovery in the regions, including issues with the procurement of health equipment and materials.“The specifications of the equipment and materials ordered usually don’t match the Health Ministry’s standards; they have no distribution permits, the goods are hard to procure, and their price often fluctuates,” Yusuf said.“Furthermore, the specifications of the goods received are often not what was ordered. Besides, the procurement of health equipment and materials is still taxed.”Yusuf said the BPKP along with regional internal auditors would supervise and assist in the purchase of health equipment. However, he urged provincial administrations to ensure that the procurement fits their particular needs.Read also: COVID-19 crisis exposes holes in social aid disbursementThe BPKP also found that hospitals in some regions still had trouble claiming reimbursement for COVID-19 patient treatment, as many of them had yet to understand the rules stipulated in Health Ministry Decree No. 238/2020.Yusuf estimated that only 30 to 40 percent of funds allocated by the central government for COVID-19 care reimbursement had been used up.“Regional administrations should coordinate with representatives of the BPKP and the Health Care and Social Security Agency (BPJS Kesehatan) office in their respective region to expedite the reimbursement of claims,” he said.The BPKP had also integrated social aid recipients data from multiple sources, including regional social aid and the central government’s Family Hope Program, to help solve the incomplete data problems that had riddled social assistance distribution.Topics : The Development Finance Comptroller (BPKP) has found that many regional administrations have not yet prepared adequate programs and measures to mitigate the economic impact of the COVID-19 pandemic.In a discussion with several governors on Wednesday that was hosted by the Corruption Eradication Commission (KPK), BPKP head Muhammad Yusuf Ateh urged regional leaders to draft economic recovery plans for their respective areas, including details on funding sources.The financial sources for the programs may include the state budget, the central government’s regional incentive funds (DID) and special allocation funds (DAK) or borrowing from central authorities, he said.last_img read more

Read More →

Long-awaited PNO Media, PGB merger thrown into doubt

first_imgPNO and PGB have been in talks over a far-reaching cooperation – including a merger – for several years now.Even at the end of last year, PGB still fully expected PNO to join its ranks, creating a new pensions giant.It considered the end of 2013 as a “logical moment” for the merger, as all pension funds must raise their funding to the government’s minimum of 105% by then.Currently, PGB’s coverage ratio is 103%, whereas funding at PNO was languishing at 99.6% as of the end of August.Earlier this week, Timeos, the exclusive pensions provider for PGB, announced that it changed its status from independent foundation into a PGB-owned company, “in order to fully focus on the scheme for the printing industry”.The provider, which initially had the intention to actively acquire clients for pension provision, said: “This is the best way for creating the necessary scale of PGB.”Theo Flach, a spokesman at PGB, added: “Timeos’s decision fits within our current philosophy that autonomous growth of PGB offers more potential for widening our basis than extension through the provider.”According to Flach, PGB has recently invested in a new and flexible administration system for its pension provision at Timeos.The pension fund for the printing industry is developing into a multi-sector fund, including participants from the cardboard and chemical industry and the rubber sector.After several new pension funds joined PGB recently, it saw the number of participants increase by 15% to more than 98,000 during the past year and a half. The possible merger between the €4.1bn media scheme PNO and the €14bn pension fund for the Dutch printing industry (PGB) has been thrown into doubt after PNO elected to suspend consultations.Ton Tekstra, chairman at PNO, told IPE: “We want to review our strategy. It might be possible the desired benefits could be achieved without joining PGB.”Tekstra declined to elaborate what those benefits might be, but he did say a cooperation with PGB was still an option, “as we operate in the same sector”.He said he expected PNO to clarify its strategy by next spring.last_img read more

Read More →

​Swedish pensions agency finds no value gain for fund switchers

first_imgThe number of people making at least one change of fund in a year had decreased since 2011, it reported, while the number of people with their own portfolio – as opposed to those saving via the system’s Såfa default option run by national pension fund AP7 –  had remained relatively stable in the period.Analysing the relationship between overall investment performance and an individual saver’s behaviour in switching between funds, the pensions agency said: “There is no clear connection between the number of fund changes and the value development in the account.”Sets of data in the report for 2019 on its own, as well as for the period since an individual had entered the system, both showed value development to be relatively evenly distributed in all categories of fund changes, and that there was no clear link between increased activity and increased value development.“Further analysis is required to investigate any possible relationships,” the agency said.The report showed premium pension savings grew by 28.5% on average in 2019 for savers with their own portfolio, while Såfa accounts had increased by an average of 30.7%.However, by the end of April the market value of premium pension savings in 2020 had fallen by 9%, the agency reported.To read the digital edition of IPE’s latest magazine click here. The Swedish Pensions Agency, which runs the country’s first-pillar premium pension system of individual accounts, has said in its latest report that it finds no link for savers between switching funds frequently and value creation.In its new 2019 report on the SEK1.5tn (€141bn) system, the authority (Pensionsmyndigheten) also said people had become less active in exercising their freedom to change in and out of investment funds, with only 3.9% of participants making any switches in 2019 compared with 4.5% the year before.The findings may be seen as supporting arguments in favour of reducing the number of private funds being offered to the public on the system’s funds marketplace (fondtorget) platform – a development which is happening as part of Sweden’s ongoing reform of its premium pension system.In the report, the agency said: “In a longer perspective, the number of fund changes has been declining since a decade ago.”last_img read more

Read More →

Gold Coast property market to flourish this spring

first_imgKollosche agent Eoghan Murphy said the greener grass would hopefully give sellers confidence to put their properties on the market. “This year we have seen a lot of sellers sitting on their hands and buyers holding back trying to predict the market,” he said. “The Gold Coast is finally in a position where it is standing on its own two feet and the basic fundamentals of the market are very strong. “Our unemployment rates are one of the lowest in the country alongside one of the fastest population growth rates. Private and government funding in infrastructure is at an all-time high so I feel we will see flow pick up dramatically across all price points in the next few weeks.”Mr Murphy said buyers had big appetites but there wasn’t enough stock to please them. “For buyers, there has never been a better time to purchase a property. “The market has steadied, the outlook for the entire Gold Coast is one of the most positive in the country and money is so cheap at the moment — find your dream home and lock it in.” The Gold Coast market is set to blossom this spring. Picture: @keykodesignLIKE gardens everywhere, the Glitter Strip’s property market is set to flourish this spring. Buyers will be enticed by the warmer weather and a rise in listings is expected as the haze from the national market downturn begins to clear.And while the Gold Coast weathered the cooler conditions well, the market still has some bouncing back to do — something the experts are tipping will happen during a bumper spring selling season. MORE NEWS: Shoebox apartments get the boot as prices soar REIQ Gold Coast chairman John Newlands said there were positive times ahead for the city. Picture: Glenn HampsonReal Estate Institute of Queensland Gold Coast chairman John Newlands echoed the outlooks for spring and said the market was set to stabilise. “We have record-low interest rates, the fear of the abolishment of negative gearing has been removed and the re-election of the government has created stability in our market,” he said. “This spring should be different as we are seeing solid migration from interstate buyers as their markets have cooled.” MORE NEWS: Long search for buyer ends with eye-watering deal center_img Ray White Surfers Paradise CEO Andrew Bell said the market conditions were great for both buyers and sellers. Picture: Glenn HampsonRay White Surfers Paradise CEO Andrew Bell said spring buyers were driven by the desire to be in their new home before the New Year. “Spring is always a robust period in the real estate market as the market awakes from somewhat of a slumber during the winter months,” he said. “This spring season will vary largely because of a significant shortage of property on the market.“We are in new territory for record-low interest rates and this is definitely a period of time that buyers should capitalise on.” The Gold Coast’s overall median house price has dropped $5000 to $650,000 in the past 12 months, according to the latest CoreLogic figures. The median unit price fell just $250 to $407,000. Despite the price falls, the median figure is up by more than 9 per cent looking at three-year growth for both property types. More from news02:37International architect Desmond Brooks selling luxury beach villa10 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoHouses are spending an average of 45 days on the market; units 54 days. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:22Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:22 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p360p360p270p270pAutoA, 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 Rate1xFullscreenAndrew Winter’s spring selling tips01:23 mikaela.day@news.com.aulast_img read more

Read More →

St Louis 7/8 Girls Basketball Awards

first_imgThe 7/8 St. Louis Girls Basketball team held their awards on Monday, March 13.The award winners are as follows.7th Grade BasketballMost Improved—Lilly WonnellMVP—Emma WeberdingCardinal Award—Ava Allen8th Grade BasketballMost Improved—Olive CernigliaMVP—Grace EcksteinCardinal Award—Pam MenesesBill Giltz—Grace Eckstein   Courtesy of St. Louis Cardinals Coach Mike Burkhart.last_img

Read More →

Defective eclipse glasses reported

first_imgBatesville, In. — As people prepare for the August 21 “Great American Solar Eclipse” caution has been issued about the eyewear used to safely view the celestial event. Only select brands have been certified safe to use.To properly and safely view the event, you need solar filter glasses that are in good condition and meet the minimum International Organization for Standardization requirements or in this case ISO-12312-2. In short, to meet the standard the glasses must block 99.99 percent of the sunlight to be safe. Doctors say permanent damage to the retina could result.Retail giant Amazon recently issued hundreds of refunds to people with inferior glasses.For other options on how to view the eclipse go to eclipse2017.nasa.gov/eclipse-viewinglast_img read more

Read More →

Robin W. “Rob” Allen

first_imgRobin Wm. “Rob” Allen, 65, of Aurora, Indiana, passed away Monday December 24, 2018 in Aurora, Indiana.He was born October 20, 1953 in Dearborn County, IN, son of the late Herman Allen and Ethel (Hinman) Allen.He was an owner/operator at Don’s Wrecker Service.He was a member of Hogan Township Fire Company, and a former member of the Aurora Eagles.Rob enjoyed racing cars and watching tractor pulls.Robin is survived by his loving spouse Brenda (VanTyle) Allen and son, Chad Wm. Allen of Aurora, IN; brothers, Jim (Martha) Allen of Aurora, IN, John (Sharon) Allen of Jasonville, IN.He was preceded in death by his parents.Services will be held at the convenience of the family.Visit: www.rullmans.comlast_img read more

Read More →