Tottenham Hotspur Faced with Fresh UEFA Champions League Rescue Mission

first_imgLondon: Tottenham’s miserable start to the season shows little sign of improving quickly, but prior to Red Star Belgrade’s visit on Tuesday, Spurs can take some solace from the fact they are in a better position in the Champions League than they were 12 months ago.Defeats to Inter Milan and Barcelona saw them travel to PSV Eindhoven for what manager Mauricio Pochettino described as a “must-win”. After a 2-2 draw in the Netherlands, Pochettino admitted his side’s Champions League campaign was “nearly over.” Yet, eight months later, the Argentine had led Tottenham to their first-ever Champions League final.The hangover from defeat to Liverpool in that final in Madrid has been long and sobering. Spurs have won just three of their opening 12 games in all competitions this season.Chances of a first trophy under Pochettino in the League Cup have already gone after an embarrassing exit on penalties to fourth-tier Colchester and they are already five points off the pace just for a place in the Premier League’s top four.However, Pochettino admitted that the most damaging defeat of all came last time out in the Champions League when Bayern Munich ran riot in the second-half to leave London 7-2 winners.”After Bayern Munich, our confidence was on the floor,” said Pochettino after a 1-1 draw at home to the Premier League’s bottom club Watford on Saturday.The heaviest defeat ever suffered at home by an English side in European competition may have had a lasting effect, but it is not terminal to Tottenham’s chances of again pulling themselves off the canvas and into the Champions League last 16.Beat the Serbian champions at home on Tuesday and they will move into second place in Group B, as long as Olympiakos don’t shock Bayern in Greece.SPENT FORCE?Doubt has been cast over Pochettino’s capability to rouse another response from largely the same group of players into his sixth season in charge.He certainly does not have troubles to seek. Captain Hugo Lloris is sidelined until 2020 leaving substitute goalkeeper Paulo Gazzaniga to hold the fort at the back.Centre-back pairing Jan Vertonghen and Toby Alderweireld look to heading towards the end of their Tottenham careers with both the Belgians’ contracts expiring at the end of the season.Christian Eriksen has also been in and out of the team with the Dane also likely to leave next summer if not before in January.New signings Ryan Sessegnon and Giovani lo Celso are not yet close to a return to first-team action after lengthy injury layoffs and club record buy Tanguy Ndombele was left on the bench for the visit of Watford after an inconsistent start to his Spurs career.However, Pochettino was encouraged by his side’s response in the second half against the Hornets as they fought back from 1-0 down to level thanks to Dele Alli’s first goal since January.”It was so important in the way that we achieved the point in the end, the team was fighting, we showed character,” said Pochettino.”We have quality but when you are in this type of situation the most important thing is the character you need to show.”Talent is after, you need to fight and you need to run and you need to be strong in your mind, the effort is double.”When everything is good you fly, when everything is going against you need to be so strong and you spend a lot of energy.”Red Star’s visit will give another indication as to whether Pochettino’s men have the energy to rise again or really are a spent force. bayern munichRed Star BelgradeTottenham Hotspuruefa champions league First Published: October 22, 2019, 2:27 PM IST Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.last_img read more

Shardul Thakur slams Indian Premier League after being benched at Kings XI Punjab

first_imgIndian Premier League was conceptualised by the Board of Cricket for Control in India as the platform for young Indian cricketers to make the plunge into top-tier cricket. The league off course has proved to be launchpad for quite a few cricketers. (Full Coverage|Points Table) However, Mumbai pacer Shardul Thakur hasn’t seen the brighter side of the lucrative league. Signed in 2014 by Kings XI Punjab, Shardul has played only one game in three seasons so far. Shradul’s hopes of making it big this season were high after a hugely successful Ranji Trophy campaign. The young Mumbai pacer played a crucial role in Mumbai’s 41st Ranji Trophy triumph as he picked up 41 wickets at an average of 24.51. Picking up eight wickets in the final against Saurashtra, Thakur finished as the sixth highest wicket-taker in the tournament. The 2016 performance was no surprise as Shardul was one of the most consistent bowlers for Mumbai in the last three Ranji seasons. In the 2014-15 season, Shardul was the joint highest wicket-taker with 48 wickets at 20.81. Irked after being perennially benched by the Kings XI franchise, Shardul took to Twitter to express his frustration.Will play a semifinal t20 game tomorrow for my club payyade sc..playing a game after 2 months..ipl has done wonders .. Certainly Shardul Thakur (@imShard) May 6, 2016Kings XI have had a torrid time this season. After managing to win only two games from eight matches, they are languishing at the bottom of the table. Also, they were forced to axe South Africa star David Miller as captain mid-way through the tournament. India Test opener Murali Vijay, who replaced Miller, started with a bang leading Kings XI to win over Gujarat Lions on May 1. However, Kings XI’s failed to keep up the momentum as they were outclassed by Kolkata Knight Riders at the Eden Gardens in their last match. advertisementlast_img read more

No hiding place for Eddie Jones and Twickenham is getting restless

first_img Twitter Quick guide England v South Africa at Twickenham Share on Twitter Since you’re here… … we have a small favour to ask. More people, like you, are reading and supporting the Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we made the choice to keep our reporting open for all, regardless of where they live or what they can afford to pay. Whether we are up close or further away, the Guardian brings our readers a global perspective on the most critical issues of our lifetimes – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. We believe complex stories need context in order for us to truly understand them. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We hope you will consider supporting us today. We need your support to keep delivering quality journalism that’s open and independent. Every reader contribution, however big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. Rugby union Reuse this content The Breakdown: sign up and get our weekly rugby union email. Is this, ultimately, reason to panic unduly? As Jones well knows from his days in charge of Japan, reputations are largely made or shattered at World Cups. It remains his belief that everything else is essentially a stepping stone. Maybe, but only if the Rugby Football Union is still employing him next September. There are those at Twickenham, including some senior figures, who are already weary of the Jones era and will shed few tears when it is time to part company.This was not the anticipated legacy when Jones arrived but, latterly, the head coach has resembled a frustrated angler for whom the fish have stopped biting. The final bill for last summer’s losing tour in South Africa was apparently far in excess of the supposed budget and the expensive hiring of John Mitchell also prompted internal RFU disquiet. No one disputes Jones’s expertise as a turnaround specialist but sustaining that initial success remains a work-on. Take this week’s hiring of Will Carling as a leadership mentor: if it works then fair play but there is more than a whiff of headline-grabbing short-termism about it. If Owen Farrell needs any advice on elite captaincy it would be far easier – and cheaper – to call his father. Key clashesForwards: Maro Itoje v Eben EtzebethItoje and his second-row partner George Kruis offer the only experience in England’s pack. Itoje needs to reproduce his club form for England against Etzebeth, who seems revitalised after an injury-ravaged year.Backs: Owen Farrell v Handré PollardAs he finally gets a shot at 10, Farrell will be hoping for a first win as a fly-half against the Boks. Pollard (pictured) is a solid defender and tactical kicker and has been the first choice under Rassie Erasmus. England rugby union team Share on Pinterest Brad Shields’ long England journey goes to Twickenham via Wembley The teamsEngland: Daly, Nowell, Slade, Te’o, May, Farrell, Youngs; Hepburn, Hartley, Sinckler, Itoje, Kruis, Shields, Curry, Wilson.Replacements: George, Moon, Williams, Ewels, Mercer, Care, Ford, Ashton.South Africa: Willemse, Nkosi, Kriel, De Allende, Dyantyi, Pollard, Van Zyl; Kitshoff, Marx, Malherbe, Etzebeth, PS du Toit, Kolisi, Vermeulen, Whiteley.Replacements: Mbonambi, T du Toit, Louw, Snyman, De Jager, Papier, Jantjies, Esterhuizen.Referee: Angus Gardner (Australia)Kick-off: 3pm GMT Show Share on LinkedIn Photograph: Steve Haag/Action Plus Head-to-headOverall record: England 14 wins, South Africa 25 (plus two draws)Last five meetings:2018: South Africa 10-25 England2018: South Africa 23-12 England2018: South Africa 42-39 England2016: England 37-21 South Africa2014: England 28-31 South Africa Share via Email Read more Was this helpful? Read more Thank you for your feedback. ‘Some senior RFY figures are already weary of the Eddie Jones era, and will shed few tears when it ends’ Photograph: David Rogers/Getty Images On the flip side neither Faf de Klerk nor Willie le Roux, who add so much pace and zip to South Africa’s game, are available on this occasion. The Springboks are mortal, with scant Test experience at scrum-half and not much more in the back three. As New Zealand proved recently, the Boks are also not entirely immune to a last quarter comeback.It is quite possible to imagine England surging back from a shaky start, setting up a breathless photo-finish in a contest potentially shaped by a contentious refereeing decision. If, instead, it is an embarrassing procession and Jones’s key-note selections fall flat, November at Twickenham could be a dark and stormy month. Will it be boom or bust for England’s patched-up contestants? Spin the wheel and place your bets. features Hide Support The Guardian South Africa rugby team What a vindication of Jones’s methods it would be if they were to skip back from Portugal, reproduce all those nifty Algarve training moves in the cooler surroundings of Twickenham and rock the Boks with their quick thinking, accurate execution, tactical acumen and desire. What if Farrell dominates at No 10, Ben Te’o and Henry Slade click from the outset and the unfamiliar back-row trio of Brad Shields, Tom Curry and Mark Wilson outplay their opposite numbers? It would suggest Jones still has the Midas touch and restore the public faith and trust which might otherwise crumble away.It makes for a tantalising afternoon all round. If Maro Itoje has a stormer and Farrell kicks his goals, a thrilling England victory would totally alter the autumn mood music. Just as likely, on the balance of probabilities, is that Malcolm Marx and Eben Etzebeth will flex their world-class muscle, Damian Willemse will be confirmed as a shimmering new running talent and Aphiwe Dyantyi will supply further evidence of his finishing ability. Eddie Jones Autumn internationals Share on Messenger Not all of this, clearly, can be laid at Jones’s door. Coaches, even obsessive ones, are not immune to freak injuries or ill luck, as underlined by Manu Tuilagi’s late withdrawal from the bench with a minor groin strain. Given England have already lost the reassuring armour plating of Billy Vunipola, Mako Vunipola, Courtney Lawes, Joe Launchbury and Nathan Hughes, Jones must have run over a black cat somewhere.That said, England’s supporters are starting to ask questions they would prefer not to be considering with the 2019 World Cup just over the horizon. What happens, regardless of injuries, if South Africa’s power game endures and England end up well beaten on the opening weekend of the Quilter autumn series? Next up are New Zealand, still the world’s No 1 ranked side. Another loss to the All Blacks and Jones’s England could be staring at seven defeats in their last eight Tests, with Japan and Australia to come. The words “fortress” and “Twickenham” have not been seen in the same sentence for a while. The ultimate nightmare for England, further injuries aside, would also involve Mitchell’s new defensive structure being repeatedly sliced open, Kyle Sinckler enduring a tough day in the scrums opposite the energetic Steven Kitshoff and the Australian referee Angus Gardner repeatedly pinging the hosts at the breakdown. Territorial supremacy will be vital, particularly in the first quarter. If there is one area South Africa will be mighty keen to examine it is England’s defensive maul in their own 22. Pinterest Unless Jones is saving his best until last, the RFU also risks inheriting a gaggle of globe-trotting assistants, stunting the growth of English-reared coaches aside from Steve Borthwick and enduring another below-par World Cup. Which is why a positive start on Saturday matters so much. Beat South Africa and stand up to the All Blacks and Jonestown becomes a happy-clappy place once again. If, alternatively, England start limply, their new combinations struggle and the crowd grows impatient, it will be harder to pacify those wondering how many clothes the emperor is actually wearing.Unfairly fine margins? Inflated expectations at odds with reality? Possibly. Jones is hardly the first England coach to suffer from the conflicting interests of club and country. But let it be remembered England are still the best resourced rugby nation on the planet. No other nation could have spent this past week training in foreign climes with no expense spared. The players do look impressively fit but, frankly, so they should. Rather more pertinent, even more so than Saturday’s result, is how they collectively perform. Share on Facebook Sometimes international sport feels less like a game than a game show. Supply the right answers under pressure and you can stay. Get it wrong and you are gone. Entertain before the ad break or get the hell out of town. Twickenham, once the spiritual home of English restraint, is as obsessed these days with instant gratification as anywhere else.Nor does it help that English rugby union is currently hostage to a crazily spinning wheel of fortune. As recently as 10 months ago Eddie Jones was a world class boss and the future was shiny bright. And now? The Springboks, staring into the abyss before Rassie Erasmus’s intervention, cannot wait to get stuck into one of the least settled red rose packs of modern times. Facebook Share on WhatsApp South Africa captain Siya Kolisi strives for more after All Blacks win Topicslast_img read more

Watch: Youngstown State Wins FCS Semifinal On Absurd Catch Off Defender’s Back

first_imgA Youngstown State player makes an absurd catch.Twitter/@YahooDrSaturdayWe’ve had some awesome bowl games tonight, but none had a finish anything close to how Youngstown State won tonight’s FCS semifinal against Eastern Washington.With six seconds remaining, and the Youngstown State Penguins down 38-34 to the Eastern Washington Eagles, quarterback Hunter Wells found tight end Kevin Rader for a game-winning touchdown. Rader, amazingly, catches the ball off of the back of EWU linebacker Ketner Kupp.Youngstown State great Ron Jaworski calls it the greatest catch in FCS history. I’m admittedly not well-versed enough to back him up on that, but it certainly has to be on the shortlist in Penguins program history.The greatest catch in FCS history sends @YoungstownStFB to Frisco!!#GoGuins @SportsCenter #TopTen ? pic.twitter.com/Rx3uFhLgoP— Ron Jaworski (@jawsespn) December 18, 2016This is Youngstown State’s game-winning catch pic.twitter.com/H9zTg5Ws6D— Dr. Saturday (@YahooDrSaturday) December 18, 2016The three-seed Penguins face the four-seed James Madison Dukes, who pulled a massive upset of FCS powerhouse North Dakota State on Friday night. Bo Pelini has done a pretty impressive job in elevating YSU after his tumultuous ouster from Nebraska.last_img read more

Billy Jealousy’s Adrenaline Junkie

first_img Smart Practices for Drinking With the Environment in Mind How Does a Vasectomy Work: Your No-Frills Guide to Getting Snipped We woke up this morning to quite a shock. It wasn’t the snow on the ground or the cat hurling in the bed (don’t ask), rather the scrub we used in the shower.Adrenaline Junkie is the new energizing scrub from the amusing, yet dedicated grooming line, Billy Jealousy. Although sold as a face scrub we use it all over. The peppermint oil got our blood buzzing, the jojoba esters wiped away dead skin and city grime and the sunflower glycerides provided a natural moisturizer rich in fatty acids, the only kind of fat we need this morning, minus bacon.If you aren’t familiar with the line, Billy Jealousy was founded in 2004 (we were at the launch party, we don’t remember much) and has been an anchor in the men’s grooming market focusing on science and nature to provide awesome products that sell world wide. They also get points in the charity field – a portion of the sale of every product goes to one of their favorite organizations such as Big Brothers, Big Sisters and Green Corps. All of the products are also PETA approved.We suggest using this product a couple of times a week (not more as a scrub isn’t good for the skin on a daily basis) and of course any time a hangover is involved. How to Choose the Right Dress Shirt 10 Best Whiskies for Irish Coffee Why Mental Health Matters (and Why It’s Time to Change Our Perspective) Editors’ Recommendations last_img read more

Gener8 Maritime Nets USD 259 Loan for Its Chinese VLCCs

first_imgNew York-headquartered tanker shipping company Gener8 Maritime, Inc. has entered into a senior secured credit facility for up to USD 259.6 million of debt financing for its Chinese VLCC newbuilding program to be drawn in connection with the deliveries of the first four of the company’s six Chinese new buildings.Financing is being provided by Citibank, N.A., The Export-Import Bank of China (CEXIM), and the Bank of China (BOC).“We expect to close on financing for the remaining two vessels in 2016. These agreements represent a key strategic milestone for our company as we continue to expand our fleet,” said Gener8 Maritime’s Chairman, Peter Georgiopoulos.The Chinese newbuild facility closed on November 30, 2015, with the first drawdown being used to refinance the October 21, 2015 term loan facility with Citibank. The facility has a margin over LIBOR of 2.0%, and a 15 year amortization profile.Pursuant to the Chinese newbuild facility, the debt financing will be secured by four Gener8 Maritime Chinese VLCC newbuildings, the Gener8 Strength, Gener8 Supreme, Gener8 Success and Gener8 Andriotis.Leonidas Vrondissis, Gener8 Maritime’s Chief Financial Officer, added, “We believe the company is well positioned to focus on the deliveries of these newbuilds and to continue to execute upon our strategy laid out during our IPO. We believe that the ability to raise close to USD 2 billion in financing during 2015 demonstrates the commitment and support we have from our lenders and their belief in the prospects of our industry.”Gener8 Maritime has a fully-delivered fleet of 47 vessels, including one time-chartered-in VLCC. Gener8’s owned fleet is comprised of 18 VLCC newbuildings and 28 vessels on the water, with a total carrying capacity of over 11.1 million deadweight tons (DWT), and average age on a DWT basis of less than 6 years upon delivery of the newbuildings.last_img read more

Liberals Senate representative tries to keep infrastructure bank in budget bill

first_imgOTTAWA – The Trudeau government’s representative in the Senate is attempting to derail a motion aimed at carving the Liberals’ proposed infrastructure bank from its broader budget bill, thus delaying its creation.Peter Harder is calling on the Speaker of the Senate to disallow an independent senator’s motion to split the infrastructure financing agency from the Liberals’ 300-page budget implementation act.Harder says the motion is out of order because it would create two financial bills — and he argues that the Senate is constitutionally prohibited from initiating a money bill.Senate Speaker George Furey will have to rule on Harder’s point of order.Independent Sen. Andre Pratte introduced the motion Wednesday in a bid to allow the upper chamber more time to debate the contentious infrastructure bank proposal.The government’s proposed, $35-billion infrastructure bank has faced considerable scrutiny related to concerns over how it would be governed and the level of risk it could put on the backs of taxpayers.Pratte has said a number of senators are prepared to support his motion to delay the creation of the bank, which is central to the government’s long-term economic plan.The government designed the infrastructure bank to use public funds as a way to leverage billions more from private investors to pay for new, large-scale projects, such as rail lines, bridges and transit systems.last_img read more

Only Canadian woman to have name engraved on Stanley Cup Sonia Scurfield

first_imgCALGARY – Sonia Scurfield, the only Canadian woman to have her name engraved on the Stanley Cup, has died at Foothills Hospital in Calgary at the age of 89.Her death was announced late Thursday by Sunshine Village ski resort, which is owned by her family.“It is with a heavy heart that we relay the passing of Sonia Scurfield, the matriarch of the Scurfield family,” the ski resort wrote on Facebook. “She will be sorely missed.”Born Sonia Onishenko in September 1928, she married Ralph Scurfield in Edmonton in 1954.The family purchased Sunshine Village in Banff National Park in 1981 and turned it into a winter ski destination.Ralph Scurfield was also one of the founding owners of the Flames when they brought the team to Calgary from Atlanta in 1980. His wife took it over after he died in an avalanche while heli-skiing in 1985.“After the funeral, my mother said, ‘You have to go to the game,’” Scurfield, who had cancer, recalled in a recent interview with Sportsnet. “Everybody was mourning his death and, if I went then, we’d all cry together.”The Calgary Flames won the Stanley Cup in 1989 and, as a co-owner, Sonia Scurfield’s name was added to hockey’s holy grail.On the plane ride home from Montreal after the win, someone cut the locks off the Stanley Cup’s case and brought the trophy onto the plane.“The plane went crazy,” then-Flames captain Lanny McDonald told Sportsnet in the same video. “Everyone had their pictures taken with the Cup and one of the coolest pictures was of Sonia Scurfield and the other owners — and you could see they are on the plane.”Scurfield said in the interview that it was an unforgettable trip home to Calgary.“That ride home, I’ll never forget,” she said. “It was a feeling you’d never expect and you’d never get again.”Scurfield, who gave up her ownership share in the Flames in 1994, also raised seven children in Calgary.In a statement released Friday, the Flames organization said it is deeply saddened by Scurfield’s death.“Sonia lived a life of devotion to her family and her community,” said Flames president and CEO Ken King. “The Scurfield family was an important part of bringing the NHL to our city and we will be eternally grateful.“We will miss Sonia’s friendship, wisdom and support.”last_img read more

Man accused of killing four people in Fredericton to make court appearance

first_imgFREDERICTON – A Fredericton man accused of killing four people, including two city police officers, in a shooting spree last month makes his second court appearance today.Matthew Vincent Raymond faces four counts of murder in the deaths of Const. Sara Burns, Const. Robb Costello, Donnie Robichaud and Bobbie Lee Wright.The police officers and civilians were gunned down Aug. 10 outside an apartment complex in the New Brunswick capital.Court documents say the incident ended after police shot the alleged gunman in the abdomen.During Raymond’s first court appearance, his lawyer said they were unable to proceed with the case because the defence was still awaiting disclosure _ or release of the findings of the police investigation.It’s expected the lawyers may have to ask for another delay.last_img read more

Stratford Festival launches 100million campaign for the new Tom Patterson Theatre

first_img Facebook Advertisement Advertisement Advertisement TPT Landscape – Hariri Pontarini Architects The campaign is co-chaired by Ophelia Lazaridis and Dr. M. Lee Myers, with the Honourable Michael Meighen serving as Honorary Chair.“This campaign will permit us to create a stunning new facility, fund the centre’s new and expanded programs, and ‎ultimately strengthen a very important part of Canada’s cultural heritage,” says Dr. Myers, a cardiac surgeon at the London Health Sciences Centre. Dr. Myers first joined the Stratford Festival’s Board of Governors in 2002 and was Board Chair from March 2010 to 2012. She is currently a member of the Board of Governors, a director of the Festival’s Foundation Board and Chair of the Campaign’s steering committee and campaign cabinet.“I am inspired by what the Festival has accomplished and even more energized for the future with this new theatre centre,” says Ophelia Lazaridis, who was a member of the Festival’s Board of Governors from 2007 to 2014, serving as Chair of the Education and Archives Committee. “I am particularly enthusiastic to support the Festival’s efforts to expand the youth audience and applaud the advances in education initiatives that will be made possible at the new Tom Patterson Theatre. That is why I have pledged $10 million to this campaign.” Ophelia Lazaridis has been a key supporter of the Stratford Festival for more than a decade.Michael Meighen, a lawyer and retired Senator, was a member of the Festival’s Board of Governors from 1986 to 1997, serving as Board Chair from 1996 through 1997. He was Chair of the Festival’s Act III campaign to renew the Festival Theatre from 1995 to 1997. “Members of the Meighen family have been supporters of the Stratford Festival for three generations,” he says, “and we are proud to be involved with this newest project, which will see the Festival in an excellent position to remain a world leader in theatrical production and cultural tourism.”Also serving as core members of the campaign are: Dan Bernstein (Westport, CT), Sylvia Chrominska (Toronto), Robert Gorlin (Northville, MI), Beth Kronfeld (Chicago), Rick Orr (Stratford), Dr. Cecil Rorabeck(London, ON), Carol Stephenson (London, ON) and Donald Woodley (Mono Township, ON).“We are so grateful to Lee, Ophelia, Michael and the entire campaign team for the dedication and expertise they bring to this project,” says Mr. Cimolino. “We are also indebted to Tim MacDonald, Chair of the Building Committee, who is guiding us so well in the process, and our Board Chair, Dan Bernstein, who, in addition to leading the global search for the architect for this wonderful new theatre, was our remarkable first lead donor.”Mr. Bernstein and his wife, Claire Foerster, have pledged $10 million to the campaign. “Claire and I take great pleasure in supporting this important project at a theatre that has meant so much to our family over the years,” says Mr. Bernstein, who is Senior Strategist and Director of Bridgewater Associates in Westport, Connecticut. “The Stratford Festival is a remarkable theatre company with vast capabilities not only in performance and production, but also in theatre education, new play development and cultural digital content.”The Festival has also been promised $20 million in funding from the federal government and $20 million from the Ontario government. In addition to the leadership gifts from Ophelia Lazaridis and from Dan Bernstein and Claire Foerster, a further $10 million in pledges has already been received – with details to be announced in coming weeks – so the campaign has already reached 70% of its goal.The Stratford Festival is one of the world’s leading theatres and the largest classical repertory company in North America, presenting a seven-month season of about a dozen plays in four venues. It offers an immersive experience that not only reflects society but also acts as an influential force within it, providing a crucible for artistic and intellectual exploration, an arena for engagement and interaction, and a centre for education and global outreach.At the beginning of their joint tenure in 2013, Mr. Cimolino and Ms Gaffney introduced three new initiatives that have shown tremendous growth and now require space of their own in order to flourish: the Stratford Festival Laboratory for the development of new work and theatre practices; the Stratford Festival Forum, which offers about 150 events each season to shed light on the themes of the plays as reflected in society today; and the Festival’s digital initiatives, which include Stratford Festival HD, which is capturing all of Shakespeare’s plays on film over a period of 10 years. The new theatre centre will house all of these projects, along with outreach programs developed and led by the Festival’s Education Department.At the heart of the centre will be a jewel-box theatre with all of the character and intimacy of the existing Tom Patterson auditorium, but with greatly expanded production and patron facilities.For 46 years, the Tom Patterson Theatre has been housed in a City-owned facility originally built in the early 20th century as a curling rink. Though a much-loved creative space, with a distinctive thrust stage wrapped in close embrace by the audience around it, the theatre suffered from cramped and uncomfortable seating, poor accessibility and limited production capabilities. The structure has been deemed by the Festival’s engineers to be at the end of its viable life.“The new auditorium will expand upon the magical qualities of the existing Tom Patterson Theatre,” says Mr. Cimolino. “It will be uniformly intimate. It will have vastly improved acoustics and a much greater sense of comfort for audience members. It will take the strengths of the current theatre and make them bespoke – tailored with the finest materials and craftsmanship.“Our architect, Siamak Hariri, has designed an inspiring space, which we believe will be the best theatre room in North America, a space worthy of the exceptional work that has always been produced in this well-loved theatre. We hope it will be a shining example of legacy architecture, like the Sydney Opera House or the Guggenheim Museum in Bilbao, Spain – but on a smaller scale suitable to our beautiful riverside setting.”The auditorium at the heart of the new centre will be clad in softly lime-washed masonry and surrounded by a veil of shimmering glass, hung with thin bronze mullions. A two-acre terraced garden, beautiful enough to be a landmark in itself, will stretch from one end of the site to the other.The theatre will have a slightly larger capacity and longer season. Together with the expansion of Forum, education and digital offerings, it is estimated that the new centre will generate an additional $14 million per year in economic activity, on top of the $134 million already generated annually by the Festival as a whole.“Just as the creation of the Festival transformed our city 65 years ago, this new theatre will add great depth and opportunity to our community,” says Ms Gaffney. “The expanded education and Forum activities will help us to develop new audiences – including the important youth market – and the beautiful auditorium will open wonderful creative avenues, setting us apart from other world-class theatres and helping us to attract visitors from around the globe.”center_img LEAVE A REPLY Cancel replyLog in to leave a comment Login/Register With: STRATFORD, ON – Artistic Director Antoni Cimolino and Executive Director Anita Gaffney are excited to announce the launch of The Spirit of the Tent: A Campaign for the New Tom Patterson Theatre Centre. To mark the launch, Ophelia Lazaridis has announced a gift of $10 million. TPT Landscape – Hariri Pontarini Architects TPT Lobby – Hariri Pontarini Architects TPT Model – Hariri Pontarini Architects Garden view – Hariri Pontarini Architects Night view – Hariri Pontarini Architects Stage view – Hariri Pontarini Architects. The $100-million campaign will provide the capital for a stunning new facility, designed by acclaimed architect Siamak Hariri of Toronto-based Hariri Pontarini, along with a fund to support the long-term viability of the centre and the programs it will house.“This is a big day for Stratford,” says Mr. Cimolino. “We are so grateful to Ophelia for coming forward with such a remarkable gift for this important project. The Tom Patterson Theatre is one of our most treasured creative spaces, but one that is woefully inadequate for the calibre of performance and experience our patrons have come to expect. This campaign will allow us to turn it into a facility befitting the founder whose name it bears. Together with our artists, staff and most generous donors, we look forward to rekindling the infectious spirit that Tom Patterson inspired 65 years ago, a spirit that awakened a belief in Canadian creativity and changed the cultural landscape of this country.” Twitterlast_img read more

Air Baltic to buy up to 60 C Series while Bombardier unveils

first_imgMONTREAL – Bombardier Inc. shares hit a new 52-week high Monday after its aerospace division got a boost from new deal for up to 60 C Series planes and unveiled two secretly developed business jets.Air Baltic Corp. will become the largest European customer of the C Series and second-biggest worldwide after it moves to a common fleet by agreeing to 30 CS300 aircraft with options and purchase rights for 30 more. That’s on top of the 20 planes it has already ordered and eight currently in operation.Based on the list price, the firm order is valued at about $3.8 billion, rising to $7.7 billion if the additional planes are orders. However, high-volume customers typically receive large discounts.Bombardier shares closed up 4.3 per cent to $4.56 in Monday trading on the Toronto Stock Exchange after the Montreal-based company also disclosed at a Geneva air show that it has secretly been developing two business jets. The new Global 5500 and 6500 will fly farther and cheaper than its existing Global 5000 and 6000s.The planes to be delivered next year will contain patented Nuage seats, updated wings and new Rolls-Royce engines.“We have to keep all our customers and get new ones. To do that you need a portfolio that is competitive or the best so for the Global aircraft there’s no question but not to have the best,” said spokesman Mark Masluch.The new planes have 500 and 600 nautical miles of additional range respectively and burn up to 13 per cent less fuel. The list prices are US$46 million and US$56 million.Flight testing of the new planes took place secretly last February in Wichita, Kan.The new business jets are largely a response to stay competitive with products from rival business jet manufacturer Gulfstream Aerospace, said David Tyerman of Cormark Securities.“Whether they have improved their position to be able to generate a lot more business or we’re just in a competitive arms race between the various players and this is just the cost of staying in the arms race, I’m not entirely clear,” he said in an interview.The new planes are already factored into Bombardier’s guidance for deliveries through 2020 and demonstrate the company’s optimism about the improving business jet market, said Benoit Poirier of Desjardins Capital Markets.“We believe this will enable Bombardier to remain ahead of its competitors in the business jet segment,” he wrote in a report.“In our view, the new aircraft launches represent a nice opportunity for Bombardier to leverage its past investments in the Global 7000 and the expertise gained with the CS100’s steep approach certification to increase its product offering and boost overall pricing.”At the same time, Bombardier renamed its largest business jet the Global 7500, from 7000, to keep in line with the other family of new planes.Meanwhile, Bombardier declined to confirm that the AirBaltic order stems from the letter of intention it announced in November coming from an undisclosed customer.Deliveries are scheduled to start in the fourth quarter of 2019.AirBaltic plans to expand its fleet to 80 CS300 aircraft by phasing out other aircraft types over the next three years, said the airline’s CEO Martin Gauss.The largest investment in Latvia’s history will help the national carrier to expand its routes after recording its most successful year in 2017, added Latvian Transport Minister Uldis Augulis.The order is a testament to the attractiveness of having Airbus as the majority partner of the C Series program, added Tyerman.“To me it’s indicative of the value of bringing Airbus into the story,” he said.Bombardier is nearing the finalization of an agreement in which Airbus will gain a 50.01 per cent control over the commercial jet program, with Bombardier and the Quebec government owning the rest.Follow @RossMarowits on Twitter.Companies in this story: (TSX:BBD.B)last_img read more

Donoradvised fund can be used to establish charitable legacy experts say

OTTAWA — Millions of Canadians dig into their wallets and donate to charities every year, but if you want to build a lasting charitable legacy, experts say a donor-advised fund might be for you.Bibi Patel, vice-president at the Ottawa Community Foundation, says a donor-advised fund is like having your own private foundation, but without the administrative headaches.“It offers donors a chance to be involved and hands-on in their giving,” Patel says.To establish a donor-advised fund, you make a donation to a foundation that issues you a tax receipt for the initial amount. The money is then invested and gains are sheltered from tax, while you direct where grants from the fund are made.Grants can be made to organizations that are recognized by the Canada Revenue Agency as a registered charity. To see if the organization you ultimately want to support is eligible, you can check the list of registered charities on the CRA website.Patel says foundations like hers can also offer guidance regarding where your donations can go, based on your causes that you want to support.“That knowledge that we bring to the table is really valuable to donors who want to know they are doing something, but they’re not quite sure how to go about doing it,” she says. Jennifer Button, head of philanthropic advisory services at RBC Wealth Management, says donor-advised funds can be part of your tax and estate planning.If you’re facing a large tax bill from a windfall from the sale of your business, a donor-advised fund could be one way to offset some of that without having to decide immediately what charity you want to support.“Often when a client is let’s say selling a business, they’re thinking of so many things that are relevant to selling their business,” Button said.“Yes, they’ve identified they’re philanthropic, yes, they want to start with a foundation, but it might not be top of mind exactly which charity they want to support.”She says a donor-advised fund can give you the opportunity to start small and get to know a charity before making larger grants.Donor-advised funds can also be used to help establish a legacy of giving and teaching your children about the importance of giving.“It really is quite a powerful conversation,” Button said.Donor-advised funds aren’t free.The foundations that hold the money before it is granted charge a fee, generally a percentage of total assets, that goes to the administration of the fund and the related costs. The funds also carry some investment risk. If the stock market tanks, losses could reduce the amount of money that you have to give out.But Button noted that the investment options offered for donor-advised funds tend to be balanced and conservative.“You’re not typically going to get the wild swings of growth, but you’re also probably not going get the wild swings negative,” she said.Patel noted that donor-advised funds aren’t just for the rich.The Ottawa Community Foundation allows donors to establish a named fund with as little as $5,000, one of the lowest thresholds in the country.“We feel strongly that we need to make it accessible to as many people as possible,” she said.Patel also says donors can maintain their anonymity by using a donor-advised fund.“By working through us, they can retain the anonymous nature of their gift,” she said. Craig Wong, The Canadian Press read more

Bank of Canada deputy governor says flexible exchange rate helps economy

EDMONTON — Canada’s flexible exchange rate has helped the economy adjust to external shocks and contributed to low and stable inflation, a senior Bank of Canada official said Monday.Speaking in Edmonton, deputy governor Lawrence Schembri said while the central bank’s inflation target normally gets most of the attention, the value of the floating dollar risks being overlooked.“The flexible exchange rate has helped our economy adjust to external shocks, primarily changes in commodity prices,” he told Economics Society of Northern Alberta, according to a text of his remarks released in Ottawa.“Although our floating currency does not completely offset the impact of all these shocks, it has complemented the bank’s inflation target to help achieve low and stable inflation and keep our economy functioning well.”Schembri’s comments came as the central bank reviews its inflation control agreement with the federal government ahead of its renewal in 2021. The agreement includes a two-per-cent inflation target and a flexible exchange rate.“While we’re not going to alter the flexible exchange rate component of our monetary policy framework, it is incumbent on policy-makers to review even successful regimes to ensure that they are serving the best interests of Canadians,” Schembri said.Schembri said the floating loonie allows monetary policy independence and makes adjustments to external shocks easier.The benefits of a flexible exchange rate “far exceed” the costs as it contributes to policy clarity and promotes financial sector development, he said.As an example, Schembri pointed to the recent oil price shock that saw the price plunge from US$103 per barrel in the second quarter of 2014 to US$34 per barrel in the first quarter of 2016, while the Canadian dollar fell from 92 cents US to 73 cents US.He estimated that had the central bank tried to hold the loonie steady it would have had to raise its policy rate to 6.75 per cent in 2015 and by an additional quarter of a percentage point in early 2016. In reality, the central bank cut its policy rate twice and took it down to 0.5 per cent.“Those hypothetical rate increases to hold the dollar fixed would have had tremendous adverse effects on the real economy. Instead of stimulating growth with our rate cuts, our rate increases would have lowered the level of gross domestic product by $60 billion by early 2016,” Schembri said.Canada first abandoned the post-war Bretton Woods pegged exchange rate in 1950, but returned to a pegged rate for a period from 1962 to 1970 before leaving the system for good.The Canadian Press read more

WatchTSX rises Wall Street falls snapping threeday rally

TORONTO — The Toronto stock market ended higher for a fourth straight day, boosted by a rally in the price of gold.The S&P/TSX composite index climbed 64.20 points or 0.5 per cent at 12,931.36, finding support from the gold and materials sectors.The Canadian dollar fell 0.24 of a U.S. cent to 72.73 cents US.On the commodity markets, April gold was up $14.90 at US$1,226.30 an ounce, while the March crude contract was up 11 cents at US$30.77 per barrel.Oil prices fluctuated throughout the day after the latest data showed that fuel stockpiles grew last week in the U.S.Crude prices have climbed recently due to optimism over a possible deal to limit production by some OPEC nations.In other resource markets, March natural gas was down nine cents at US$1.85 per mmbtu and March copper was unchanged at US$2.07 a pound.Wall Street was negative with the Dow Jones industrial average down 40.40 points to 16,413.43.The broader S&P 500 composite index declined 8.99 points to 1,917.83, while the Nasdaq composite index lost 46.52 points to 4,487.54. read more

Next generation rigid truck tyres from Michelin

first_imgMichelin Earthmover has announced the next generation of rigid dump truck (RDT) tyres with the introduction of MICHELIN® X®TRA LOAD GRIP and the MICHELIN® X®TRA LOAD PROTECT. Hailed as the first-ever “3-star” 24.00R35 tyre size on the market, the new MICHELIN XTRA LOAD range will allow users to increase load capacity or accommodate faster speeds to maximise productivity.“It is a common worldwide practice to add side boards and lift gates to rigid dump trucks in order to increase payload capacity for optimal profitability. This demand puts incredible stress on the tyres,” said Jamey Fish, Director of Earthmover Marketing for Michelin North America Inc. “This new, robust Michelin tire range provides a solution so that the maximum amount of material can be loaded into these trucks while still delivering traction, damage resistance and increased tyre life.”The new MICHELIN XTRA LOAD tire is available for two surface applications experienced by RDTs. First the MICHELIN XTRA LOAD GRIP for soft, loose, muddy ground conditions — experienced in mining and quarrying operations on slopes and inclines, where the priority is high grip and traction. Due to a reinforced casing, the tyre has a 16% higher payload, or an increase of 9 t in load capacity per machine — a huge increase in productivity when multiplied by the number of cycles made daily. And with a tread comprising 30% more lug edges, increased grip improves braking, cornering and accelerating. The tyre has the ability to drive at 21 miles per hour due to the cooler internal running temperatures. The tyre also provides 8% more wear resistance, with more rubber in the contact patch and improved damage resistance with corrosion-isolating steel cables. This tyre replaces the Michelin XDT® and X® Traction offers.Second is the MICHELIN XTRA LOAD PROTECT for hard, sharp, abrasive conditions on flat, dry surfaces — where the priority is protection and damage resistance, conditions that are present in areas such as quarries and construction sites. This application is for customers who want to carry more load and increase the distances they carry every hour. The new highly protective and damage-resistant tread pattern contributes to a better load distribution across the contact patch. This tyre has interlocking blocks and improved heat dissipation that reduces the temperature in the tread area by up to 17 degrees F. This tyre replaces the Michelin X®QUARRY S and X®HAUL tyres offers.Productivity — as measured by TMPH — is a function of load and distance covered in an hour. For the new XTRA LOAD GRIP, the TMPH is increased by at least 20.3% in the A4 compound and 13.5% for the B compound, when compared against previous Michelin ranges. For the new XTRA LOAD PROTECT, the TMPH is increased by at least 14% in the A4 compound and 42% for the B compound, when compared against previous Michelin ranges. This extended load and speed capability will allow users to optimise machine cycles and increase productivity. Greater volume of tread rubber in contact with the ground contributes to better load distribution, improved wear resistance and an increase in tyre life.With the two tread compounds (A4 and B), dealers will also experience easier stock management.last_img read more

Mukesh Ambanis firm ditches siblings RCom in spectrum sale deal

first_imgA headline spectrum sale deal between the companies of Ambani siblings has hit a major hurdle as telecom authorities have refused to approve the transaction that had the green light of the apex court.The Depart of Telecommunication (DoT) decision on the Rs 25,000 crore deal is a major blow to Anil Ambani’s Reliance Communications (RCom), which saw the sale as a lifeline to pare its debt burden down to Rs 18,000 crore.DoT refused to approve the deal after Mukesh Ambani’s Reliance Jio in a letter on Friday refused to take responsibility for the past dues that the younger brother’s company owed the government, reports say.DoT has taken that stand that the trading rules clearly says it can ask both the parties of a spectrum sale deal or any one of them to pay the dues. As Jio imposed conditions to its commitment, DoT officials say, they cannot accept it as it goes against the guidelines.The rejection of the deal means a setback to RCom’s efforts to settle outstanding dues of about Rs 550 crore with Swedish telecom equipment maker Ericsson, which is nearly due.The Supreme Court had set a December 15 deadline for payment to Ericsson which RCom missed. The foreign firm could reinstitute insolvency proceedings against the company besides the revival of contempt of court petition against its chairman Anil Ambani.The Supreme Court order had directed DoT to approve the spectrum deal accepting a Rs 1,400 crore corporate guarantee, instead of the bank guarantee that DoT sought, as well as a piece of land as collateral from an RCom subsidiary to cover the spectrum user charge of Rs 2,947 crore, which RCom disputes.DoT took the view that in case of any issue with RCom corporate guarantee or land parcel, Jio being the buyer, would have to make the payments. But Jio has refused to give the undertaking to pick up the tab.In its letter, Jio claims the spectrum trading agreement on 122.4 MHz spectrum sale stipulates that RCom will provide bank guarantees to DoT for all disputed claims.The agreement struck in late 2017 was central to its plan to manage its Rs 46,000-crore debt.last_img read more

Officer Convicted of Killing Black Motorist Wants New Trial

first_imgBy The Associated PressWEST PALM BEACH, Fla. (AP) — The Florida police officer recently convicted of killing a stranded black motorist wants the verdict dismissed.Attorneys for fired Palm Beach Gardens officer Nouman Raja asked Judge Joseph Marx this week to dismiss the jury’s March 7 manslaughter and attempted murder conviction. They want Marx to acquit Raja of the 2015 slaying of 31-year-old Corey Jones or order a new trial.Palm Beach Gardens officer Nouman Raja, left, was comvicted in the 2015 slaying of 31-year-old Corey Jones. (Courtesy and Facebook photos)The attorneys argue the evidence doesn’t support Raja’s conviction and say Marx made errors that made the trial unfair. Such motions are common after convictions and rarely granted, but set the stage for further appeals.The 41-year-old officer is facing a minimum sentence of 25 years for killing Jones along a highway off ramp and could get life. Sentencing is scheduled for April 25.Raja is of Asian descent.last_img read more

Progress reported on dengue vaccine

first_imgPARIS – Trials in Thailand with a candidate vaccine for dengue, a potentially fatal mosquito-borne disease, have shown it to protect against three of the four virus strains, its French maker said last week.The first trials in humans proved the vaccine was safe and represented a key milestone in the quest for a dengue jab, vaccine-maker Sanofi Pasteur Executive Vice President Michel De Wilde said in a statement.“This is also an important development for global public health, since there is currently no specific treatment or prevention for dengue.”The World Health Organization says the disease infects between 50-100 million people every year and kills more than 20,000 – mainly in tropical and subtropical regions of Asia and Latin America, but is expanding rapidly including to parts of Europe.Researchers estimate that some 3 billion people live in regions susceptible to dengue contagion and another 20 million tourists pass through them.The disease caused by one of four virus serotypes results in fever, aches, rashes, vomiting and in rare cases death. Children are especially vulnerable.Sanofi Pasteur said its candidate vaccine was effective against three of the four virus serotypes and analyses were under way “to understand the lack of protection for the fourth.”The company conducted trials on 4,000 children aged 4-11 in Thailand’s Muang district, the results of which have yet to be published in a peer-reviewed medical journal.Larger Phase III trials with 31,000 adults and children are taking place in 10 countries in Asia and Latin America. Facebook Comments No related posts.last_img read more

40 Costa Rican businesses called out for violating consumer law on exchangerate

first_imgRelated posts:Study shows that Auto Mercado is the most expensive grocery chain in the country Coming Holy Week brings huge price spikes in seafood Central Bank president warns political campaigns to stay away from the exchange rate Telecomm regulator warns mobile carriers to reduce wait times on customer service hotlines The Costa Rican Consumers Association filed complaints against 40 businesses for allegedly using dollar prices without visibly displaying the official exchange rate and for failing to use rates set by the Central Bank.The complaints were filed with the Economy Ministry earlier this week for alleged violations of Article 93 of the country’s consumer protection law, which stipulates that all prices of goods and services displayed in dollars must be calculated into colones using only the exchange rate established by the Central Bank. That rate also must be visibly displayed at businesses.Most of the complaints – 15 – were filed against auto dealerships. Eleven complaints were filed against tourism businesses, including hotels, car rental agencies and travel agencies.Seven construction companies also were on the list, as well as seven electronics and department stores.“We also detected cases of businesses using exchange rates set by other banks, which is absolutely illegal,” said Érick Ulate, president of the consumers association.Association members monitored the companies’ advertising in print and online media, Ulate said.The exchange rate usage law went into effect last September, and Ulate said his group believes the [six-month] interim period is sufficient for businesses to comply with the regulation.“There is no justification for [businesses] to keep breaching the law,” he said.The Economy Ministry will notify offending business owners and give them 10 days to make necessary changes. Failure to comply could result in fines of up to ₡9 million ($16,700 at today’s rate).Some business owners have been trying to cash in on sustained increases in the exchange rate this year. In the last five weeks, the dollar sale price has increased by almost ₡50, and the Central Bank was forced to intervene by buying dollars to prevent an even bigger increase. The official exchange rate on Thursday was ₡536.22 for buying and ₡550.77 for selling.The Consumers Association hosts a daily talk show at 8 a.m. on Radio Actual (107.1 FM), and complaints also can be posted on their Facebook page.Ulate said posts can be made in Spanish or English, and the group can help expats and tourists with advice on how to interact with the Economy Ministry.Consumers also can file complaints directly with the Economy Ministry by calling 800-CONSUMO, or filling out a complaint form on the ministry’s website or by email at consumo@meic.go.cr Facebook Commentslast_img read more

Cypriot construction sector NPLs highest in Europe

first_imgBy Stelios OrphanidesAlmost a decade after the 2008 real estate bubble bust, Cyprus’s ratio of non-performing loans in the real estate and construction sector remain among the highest in the European Union (EU) and European Economic Area (EEA), the European Banking Authority said.The non-performing loans ratio of construction companies was 75 per cent in March down from 76 per cent in December which was in both cases the highest in Europe, the EBA said in its quarterly Risk Dashboard report on its website. That of the real estate sector stood at 39 per cent at the end of March, the third highest, down from 43 per cent in December.The construction and real estate sector in Cyprus, both benefiting from the government’s scheme which allows investors, also in real estate, to obtain a Cypriot passport or a permanent residence permit depending on the size of their investment, saw the size of their respective non-performing loans fall at the end of March to €3.2bn from €3.4bn a quarter before and to €1.4bn from €1.6bn respectively, according to EBA.The Cypriot government is also supporting both demand and supply in the real estate and construction sector via tax cuts and town planning relaxations. Debt-to-asset swaps, which resulted in banks onboarding more than €2.1bn in real property since 2015, has also helped reduce loan arrears in the island’s construction and real estate sector.Cyprus’s construction sector output rose last year 25 per cent to €752.9m compared to 2016, which is roughly one third of the all-time high of 2008. Output in the real estate sector rose 2.8 per cent to €1.6bn.The delinquent loans ratio of the construction sector in Greece was the second highest in Europe at the end of the first quarter with 67 per cent followed by Italy’s 47 per cent and Malta’s 41 per cent, according to the EBA figures. In the real estate sector, the highest ratio was Greece’s 56 per cent followed by Bulgaria’s 40 per cent.The average non-performing loans ratio in the construction and real estate sectors at the end of March in the EU and EEA was 20 per cent and 5.2 per cent respectively, the EBA said.The lowest ratios in construction at the end of the first quarter were Norway’s 0.9 per cent, followed by Sweden’s 2.2 per cent and a 3.1 per cent in Denmark, EBA said. In the real estate sector, Sweden boasted a negligible 0.1 per cent, the lowest in Europe, followed by 0.7 per cent in Norway and 0.9 per cent in Denmark.Total non-performing loans stood in March at €19.9bn or 43 per cent. They are considered a major risk for the Cypriot economy, which expanded last year 3.9 per cent and emerged in 2015 from a prolonged recession which led to a twin fiscal and banking crisis in 2013. On July 8, the parliament passed legislation amending the foreclosure and insolvency framework in an attempt to help banks improve borrower discipline and tackle strategic default.The banking sector’s exposure to construction was 19 per cent in March, which was three times the average in Europe as well as the highest, the EBA said. Exposure to the real estate sector was 16 per cent, well below the average of 27 per cent.You May LikeHealth & Human Research7 Shocking Things That Happen When You Eat Oatmeal EverydayHealth & Human ResearchUndoFood PreventThis Happens To Your Body When You Eat Oatmeal Every Single DayFood PreventUndoApartments | Search AdsSearching for a New Apartment? Your Search Just Got EasierApartments | Search AdsUndo Films and food at RialtoUndoWidowers threaten legal action over pensionsUndoLED-lighting the way by 2020Undoby Taboolaby Taboolalast_img read more