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Approval of ELTIF framework ‘essential for sustained recovery’

first_img“The investment gap and financial crisis present us with the challenge of solving the tricky equation of maximising economic growth, increasing financial stability, removing barriers to cross-border investment, ensuring consumer protection and enhancing competition all at the same time,” Lamassoure said.For her part, Linklaters’ senior lawyer Silke Bernard flagged up the opportunities in responsible investing for the “exciting” vehicle.She predicted there would be a lot of interest from investors for infrastructure projects considering social and responsible investment matters – such as schools and hospitals.Monica Gogna, partner at Ropes & Gray, said the ELTIF’s approval by Parliament showed Europe was keen to remain “at the forefront of innovation” in the investment management sector.“The development of this regulation and the implementing rules surrounding it will definitely be ‘one to watch’ as the industry starts to map out opportunities where this new structure may be used,” she said. The ELTIF, aimed at both institutional and retail clients, was highlighted by Hill as the first step towards the CMU during the commissioner’s confirmation hearings.Proponents of the ELTIF have long spoken out in favour of its long-term capital being deployed with socially responsible investment (SRI) in mind.Natixis Asset Management previously told IPE it was in favour of enshrining SRI within the fund’s framework, requiring asset managers to comply with certain ESG principles or disclose that they had opted against such an approach. The European Parliament’s approval of the European Long-Term Investment Fund (ELTIF) framework has been welcomed by the industry and parliamentarians as the first step towards building the Capital Markets Union (CMU).The ELTIF, meant as a conduit for patient capital, was first mooted in 2012 when the European Commission considered how it could better channel long-term capital into the economy.Jonathan Hill, commissioner for financial stability, said the vehicle would help fund infrastructure projects “essential for a sustained recovery”.Alain Lamassoure, the French MEP overseeing the framework’s passage, said it would boost both long-term investment and help bring about the launch of the CMU, one of Commission president Jean-Claude Juncker’s cornerstone policies.last_img read more

RHTY&SC dedicates award to Patron and sponsors

first_imgGUYANA’s leading youth and sports organisation, the Rose Hall Town Youth and Sports Club (RHTY&SC), M.S, on Thursday last received the prestigious Guyana Cricket Club-of-the-Year 2016 when the Guyana Cricket Board hosted its annual awards ceremony at the Umana Yana.This is the fifth occasion that the RHTY&SC, M.S, has won the Club-of-the-Year award, having previously done so in 2004, 2005, 2009 and 2010.Club Secretary/CEO, Hilbert Foster, hailed the award as a well-deserved one as every member of the 26-year-old organisation worked beyond the call of duty to make sure that the RHTY&SC, M.S, fulfilled its mandate.The Club during 2016 successfully completed a record 453 programmes/activities after setting itself a target of 300 and Foster hailed the Club-of-the-Year award as the icing on the cake.On the cricket field, the Club produced a total of 17 national cricketers at the junior and senior levels: Kevin Sinclair, Sylus Tyndall, Kevlon Anderson, Assad Fudadin, Royston Crandon, Eon Hooper, Marian Samaroo, Dian Prahald, Erva Giddings, Shemaine Campbelle, Meliane Henry, Sheneta Grimmond, Shabika Gajnabi, Aleema Arokuim, Deborah Vanderstoop, Plaffina Millington and Roshana Lynch.Fudadin also played for the West Indies while Campbelle and Giddings represented the West Indies Female Team. Additionally, the following RHTY&SC, M.S, members played in the GCB three-days cricket tournament:Collis Butts, Clinton Pestano, Rajiv Ivan, Jason Sinclair, Shawn Perriera, Fudadin, Crandon, Hooper, Kevlon Anderson and Keon Sinclair.On the cricket field, the club ended 2016 as defending champions of the Tenelec 50-over tournament, Tenelec Under-15, New York Business Group Under-19, Berbice River Bridge 50-over, Busta Champion of Champions 40-over and reached the final of the NBS Second Division competition.The Under-19 team is also awaiting the final of the Memorex tournament.Off the field, the cricketers of the eight cricket teams were busy with their personal development programmes and among the major programmes/projects successfully completed were the opening of the H.D. Hoyte Memorial Family Recreational Park, the annual Cricket academy, Annual Youth Review Magazine, hosting of the 46th anniversary of Rose Hall Town, Bakewell Christmas Village 2016, Beharry Say No/Say Yes Campaign directed to 60,000 youths in Berbice, GUYOIL Traffic Education Campaign, Republic Bank Educational Summer Camp, Youth Career Fair, Gregory Gaskin Memorial Berbice Sports Award, Children Mash Parade, Ansa Mcal Award of Excellence and Dolphin Award of Excellence.The Club would also like to extend congratulations to Shemaine Campbelle for being voted Female Cricketer-of-the-Year 2016 and Kevin Sinclair for being Best Under-17 bowler for 2016.Congratulations are also extended to Bhaskar Yadram, who represents the RHTY&SC at the junior level in Berbice when he is not playing for his home Club, Enterprise. RHTY&SC junior cricketers Kevin Sinclair, Sylus Tyndall and Kevlon Anderson were also honoured for being members of the victorious junior national team.The long-serving Club Secretary/CEO,Mr Foster, who has supervised over 6000 programmes at the RHTY&SC over the years, noted the 2016 Club-of-the-Year is always available to share its vast experience with other Clubs and to assist them to develop.The Management and members of the RHTY&SC, M.S, would like to dedicate the prestigious award to Club Patron, H.E President David Granger, all residents of Guyana’s smallest township and the official sponsors of its cricket section – Farfan and Mendes Ltd, Bakewell, Metro Office Supplies, Gizmos and Gadgets, Pepsi (DDL) and TCL (Guy), who sponsor the annual cricket academy.Special mention must also be made of Mings Products and Services, Food for the Poor (Guy) Ltd, Sheik Mohamed Sports Shop, Hand-in-Hand Insurance, Mike’s Pharmacy, Factory Price, Ansa McAl, Busta, Scotia Bank, Kings Jewellery World, Goodwood Racing Service and the National Sports Commission for their input into the Club’s Cricket Programme during 2016.last_img read more

Trojans end regular season with a bang

first_imgIf a USC football team can’t beat both, it must beat at least one of USC’s longtime rivals for its season to be considered a success in the eyes of some Trojan fans.Bouncing back · Redshirt junior quarterback Cody Kessler responded to a lackluster performance against UCLA with an excellent effort against the Irish. Kessler threw for 372 yards and six touchdowns on Saturday. – Ralf Cheung | Daily TrojanThough USC looked outmatched against crosstown foe UCLA in a 38-20 loss last week, the Trojans redeemed themselves to some degree with a dominating 49-14 victory over Notre Dame on Saturday. The highs and lows of the last two games are indicative of both the first season under head coach Steve Sarkisian and the careers of the seniors who played in the Los Angeles Memorial Coliseum for the final time.“I’m happy for this [senior] class,” Sarkisian said. “Their last game in the Coliseum is something they’re obviously going to remember for a lifetime.”Redshirt junior quarterback Cody Kessler threw six touchdowns to five different receivers, and the Trojan defense held a Fighting Irish offense that was previously averaging about 35 points per game to only two touchdowns.“All three phases were just tremendous,” Sarkisian said.The Trojans started the game on a 35-0 run. After punting on their first possession, the Trojans found the endzone on their next five. Kessler finished the day 32-40 with 372 yards and no interceptions. He at one point completed 16 passes in a row and set his career record for completions.Kessler said the team planned on running a particularly up-tempo style and that they executed the game plan excellently.“Today, it was obvious how tough it was for them to get lined up against us,” Kessler said of the fast pace. “It really played to our advantage.”Notre Dame did not advance the ball into USC territory until the second quarter. The Irish did not score until the 4:11 mark in the second half, after backup quarterback Malik Zaire had replaced starter Everett Golson.Golson finished the day 7-18 with 75 yards and one interception in the air. The dual-threat signal caller came into the game with 291 rushing yards on the season but left the game with a net -14 yards rushing after being sacked three times. The Trojans also forced one Golson fumble and finished the day with two caused turnovers.Senior linebacker Hayes Pullard said the key was for the linebackers to get pressure on Golson, something they didn’t do the week before against UCLA quarterback Brett Hundley.“We learned from last week, us linebackers weren’t going,” Pullard said. “We had to get after it and help our D-line. We prepared all week. [Defensive coordinator Justin] Wilcox had a great plan for us.”Trojan fans also got to see a backup in at quarterback for USC but under slightly different circumstances. Redshirt freshman Max Browne relieved Kessler with about 10 minutes left in the fourth quarter but did not record a passing attempt. On the Trojans’ final drive, senior Anthony Neyer, the fifth quarterback on USC’s depth chart, subbed into the game as the signal caller. He also did not record a passing attempt but did rush for five yards on two attempts.“It was awesome,” Neyer said. “It was such a blessing to be able to come into this Saturday against Notre Dame in my last game in the Coliseum and see everybody do so well.”At the final home game in the careers of the 12 seniors on the roster, the Trojans celebrated Senior Day by honoring each senior player before the game. The 12 seniors were announced individually coming out of the tunnel before the game and were met by family at midfield.The seniors honored included Neyer, Pullard, tight end/defensive end Teddy Baker, safety Gerald Bowman, center Giovanni Di Poalo, offensive tackle Nathan Guertler, kicker Andre Heidari, cornerback Josh Shaw, linebacker J.R. Tavai, tight end Randall Telfer, guard Aundrey Walker and tight end Chris Willson.Bowman recorded an interception and seven tackles, Pullard recorded three tackles — including one for a loss and a fumble recovery — Shaw recorded a tackle and Telfer caught Kessler’s sixth touchdown pass.The win concludes a tumultuous first regular season for Sarkisian as USC’s head coach. The Trojans were in contention for the Pac-12 South championship until losing to UCLA in their final conference game. In addition to a big defeat against UCLA, the Trojans lost decisively out of conference to an unranked Boston College team then lost on the final drive against both Arizona State and Utah.Sarkisian said the Arizona State loss stings particularly strongly, as the Sun Devils won the game on a miraculous “Hail Mary” pass as time expired, and Trojans would have made the Pac-12 title game if they had successfully defended that one play (with all else being equal over the season).“Those are some gut-wrenching losses,” Sarkisian said, looking back on the regular season. “It’s my job to figure that out so that doesn’t happen again.”One more win in their bowl game will leave the Trojans just short of 10 wins on the season, but Sarkisian said he would nonetheless be proud to see the 8-4 Trojans finish with nine wins. Though he said he was looking forward to next year, saying, the focus was on finishing off the season with a bowl win.“I’m proud of the way we played,” Sarkisian said. “I think it gives us a chance to head into bowl prep with a lot of confidence.”Quick HitsKessler was named the Pac-12 Offensive Player of the Week for his performance against Notre Dame. It is the third time he has won the award this season. Arizona linebacker Scooby Wright III won the conference’s Defensive Player of the Week Award, and Utah punter Tom Hackett received the Special Teams Player of the Week Award.Redshirt junior linebacker Charles Burks and redshirt sophomore wide receiver Robby Kolanz received honorable mention All-Pac-12 Academic honors.It remains unclear which bowl game the Trojans will attend. This season, the Pac-12 is affiliated with the Alamo Bowl, National University Holiday Bowl, Foster Farms Bowl, Hyundai Sun Bowl, Royal Purple Las Vegas Bowl and Buffalo Wild Wings Bowl. Based on the current conference standings, USC will likely land in either the Holiday or Las Vegas Bowl. The Trojans defeated Fresno State 45-20 in last season’s Las Vegas Bowl.Sarkisian said USC will resume practice on Friday.last_img read more