But old Siegmund knew all about private banking.
Former US Treasury Secretary Timothy Geithner visited Singapore last week in his new role as president of global private equity fund Warburg Pincus and his presence hardly raised a ripple of interest. No wonder, writes MSC Newswire's Peter Isaac.
Singapore has taken over from Switzerland as the home of private banking with the added impetus of becoming the centre of Chinese private banking too.
Driven out of Switzerland by a Franco-US led purge on anonymous accounts, the private banking sector and its customers have settled in the orderly city state and have been joined in this surprisingly verdant sanctuary by their Chinese contemporaries uncertain of the continuing sanctity of their perch in Hong Kong.
In fact Geithner (pictured above) was in town to launch there the Singapore branch of Warburg Pincus whose local management declare that Singapore will be their new Asian “hub and spokes.”
Warburg Pincus is descended from the old E.M Warburg & Co famous for an-inter family struggle centred on the right to use the Warburg name. The feud was led by the head of the London branch of the family, Siegmund Warburg. In the end the row became moot when the New York family bank was effectively sold to Pincus.
Siegmund Warburg (pictured below) was famous for his collection of business aphorisms. One of these seemed to have anticipated the current emphasis on private banking.
According to the late Siegmund Warburg’s maxim there are only three types of men who can keep a secret............“There is the man who tells his wife. There is the man who does not tell his wife. Then there is the man who forgets what the secret was in the first place. “
From the MSCNewsWire reporters' desk Wednesday 27 Ju;y 2016
EMA is calling the Electricity Authority’s (EA) proposed pricing regime changes a regional tax by stealth.Under the proposed changes, EMA’s members are facing significant increases in their electricity pricing with no right of recourse.
Auckland customers will foot a near $80 million dollar increase, Whangarei customers face a 58% increase, and customers based further north in Kaitaia, Kerikeri and Kaikohe face an increase of 121%. Members in Eastern Bay of Plenty also face significant increases.
Other areas isolated from the national grid and needing assistance with regional development, such as Westland, are the big losers while the main beneficiaries appear to be the big South Island generators and the already heavily government subsidised aluminium smelter at Tiwai Point.
“This is a tax by stealth on our members, and for some of them it will severely impact their business,” says Kim Campbell, CEO, EMA.
“There are peverse outcomes where changes to electricity pricing will take more out of areas such as Northland than the Government provides to the region in economic development initiatives.”
Small to medium sized businesses in Auckland face increases of $1500 per annum, and those needing high voltage connections (such as schools or hospitals) may be paying an additional $22,000 per annum.
“Other members who are large scale energy users are looking at multi-million dollar increases,” says Mr Campbell.
“We challenge the thinking behind this proposal, which appears to be more about subsidising Meridian and Tiwai Point who coincidentally benefit by $80 million, rather than sound policy for the national good. We dispute the thinking that Auckland, in particular, is getting a superior service and therefore needs to pay more than other parts of the country. The grid has already been paid for, and we believe the EA should maintain its current pricing regime, which distributes costs across the board.”
More than half a million people will be employed in construction-related occupations by 2021 in support of New Zealand’s building boom, Tertiary Education, Skills and Employment Minister Steven Joyce and Building and Housing Minister Dr Nick Smith say.
The ministers today released the National Construction Occupations Projections report, which shows construction-related occupation numbers are expected to hit 539,500 in the next five years, up 10 per cent from 2015.
“The construction industry was the largest contributor to annual employment growth last year, with 27,500 more people employed,” Mr Joyce says. “232,000 people now work directly in the construction industry, while a much larger group of 490,000 people work in construction-related occupations.
“The occupations expected to experience the largest growth in the next five years are electricians (14 per cent), plumbers (13 per cent) and civil engineering professionals (11 per cent).”
Dr Smith says the forecasts are based on the National Construction Pipeline Report 2016, and draw on information from the 2013 Census.
“The total value of building and construction work forecast by 2021 is expected to top $200 billion. We’re building more than ever before, and the workforce to support this boom continues to grow,” Dr Smith says.
Mr Joyce says the Government is actively supporting the industry to train more skilled workers to meet the demand for new housing and construction. Budget 2016 announced a further $14.4 million over four years for 5,500 more apprentices by 2020, along with $9.5 million for Maori and Pasifika Trades Training. The new funding will help meet projected skill shortages in high-demand industries such as construction and infrastructure.
“In 2015, there were almost 38,000 people training in construction-related fields through apprenticeships and industry training, Maori & Pasifika trades training, polytechs, universities and private providers, and trades academies. This is an increase of 18 per cent over the last four years. In 2011 less than 32,000 people were in training for construction-related occupations,” Mr Joyce says.
The ministers also launched an interactive web tool which forecasts demand for construction workers to 2021.
The web application - http://constructionprojections.mbie.govt.nz - enables people to check forecasts for 62 construction occupations nationwide, enabling better workforce planning by construction firms and encouraging expanded training by education providers.
More than half a million people will be employed in construction-related occupations by 2021 in support of New Zealand’s building boom, Tertiary Education, Skills and Employment Minister Steven Joyce and Building and Housing Minister Dr Nick Smith say.
The ministers today released the National Construction Occupations Projections report, which shows construction-related occupation numbers are expected to hit 539,500 in the next five years, up 10 per cent from 2015.
“The construction industry was the largest contributor to annual employment growth last year, with 27,500 more people employed,” Mr Joyce says. “232,000 people now work directly in the construction industry, while a much larger group of 490,000 people work in construction-related occupations.
“The occupations expected to experience the largest growth in the next five years are electricians (14 per cent), plumbers (13 per cent) and civil engineering professionals (11 per cent).”
Dr Smith says the forecasts are based on the National Construction Pipeline Report 2016, and draw on information from the 2013 Census.
“The total value of building and construction work forecast by 2021 is expected to top $200 billion. We’re building more than ever before, and the workforce to support this boom continues to grow,” Dr Smith says.
Mr Joyce says the Government is actively supporting the industry to train more skilled workers to meet the demand for new housing and construction. Budget 2016 announced a further $14.4 million over four years for 5,500 more apprentices by 2020, along with $9.5 million for Maori and Pasifika Trades Training. The new funding will help meet projected skill shortages in high-demand industries such as construction and infrastructure.
“In 2015, there were almost 38,000 people training in construction-related fields through apprenticeships and industry training, Maori & Pasifika trades training, polytechs, universities and private providers, and trades academies. This is an increase of 18 per cent over the last four years. In 2011 less than 32,000 people were in training for construction-related occupations,” Mr Joyce says.
The ministers also launched an interactive web tool which forecasts demand for construction workers to 2021.
The web application - http://constructionprojections.mbie.govt.nz - enables people to check forecasts for 62 construction occupations nationwide, enabling better workforce planning by construction firms and encouraging expanded training by education providers.
Demand from Korean travellers wanting to tour the South Island has led to a new charter service for the coming summer.
From December 2 to January 28, Asiana Airlines will fly a weekly service between Incheon, Seoul and Christchurch Airport, to bring 2500 visitors to the South Island.
The airport's Chief Commercial Officer - Aeronautical, Justin Watson, says the nine weeks service is a direct response to requests from South Korean travel agents.
"The Korean travel agents consistently get requests for direct flights to the South Island, so eight of them have worked Asiana to put the charters together," he says.
"The flights have just gone on sale and are getting good uptake, with high interest from visitors wanting to travel outside the main centres to see the lakes, mountains, glaciers and open spaces of the South Island.
"Like us, the agents know how much Korean travellers want to visit the South Island. It's not the first Korean airline to fly here, but will be the first time Asiana has flown to New Zealand."
Statistics show that in the 12 months to end of June, 21,000 Korean visitors flew into Christchurch. That's up 29% on the previous year and higher than the national growth rate of 24%.
Asiana Airlines will operate a Boeing 777-200ER aircraft on the charter flights, as part of the airline's global reach to 24 different countries and 74 cities.
A Christchurch Airport press release July 26, 2016
Despite widespread agreement that real-time aircraft tracking must be at the top of the air transport industry’s list of priorities, the adoption of tracking solutions continues to be slower than everyone would like. ICAO’s mandate that airlines must adopt 15-minute position reporting as standard will not be implemented until November 2018, while from January 2021 aircraft will need to satisfy the Standards and Recommended Practices (SARPS) on “distress” tracking, which means aircraft location must be reported at least every minute when an aircraft is in distress.
Offering its thoughts on the 2018 deadline, IATA, which has liaised closely with ICAO on the development of the aircraft tracking standards, told FTE in a statement: “The November 2018 tracking requirement was arrived at through the ICAO process with involvement from all stakeholders. In order to achieve it, we are working through the Normal Aircraft Tracking Implementation Initiative 2 (NATII 2) to now create guidance material to help airlines and regulators to implement the tracking standard. The recently adopted Standards and Recommended Practices and the newly proposed risk-based SARP to complement the existing Standards, will become effective from March 2017, giving the industry 18 months to assess where they are, in order to comply with the November 2018 deadline.”
Not everyone is happy with these timeframes, though, and as has been widely reported, Emirates President Sir Tim Clark labelled the slow rate of progress a “disgrace” at this month’s IATA AGM. While Clark’s strong words highlight the frustration felt by many both within and outside of the industry, it is important to note that in some areas more urgent action is being taken to address the need for real-time tracking. For instance, the Civil Aviation Authority of Singapore (CAAS) announced three months ago that all Singapore-based airlines must meet the 15-minute aircraft position reporting standard by 1 July 2016.
Dozens of airlines have also taken a proactive approach and SITAONAIR told FTE that around 40 carriers have now adopted its FlightTracker product, which uses existing equipment and re-purposes air traffic control data to provide consistent monitoring throughout the flight. Other suppliers are also active in this space. Panasonic Avionics announced earlier this month that it is now offering global tracking to all Satcom customers, which it says will enable it to “seamlessly enable flight tracking on over 1,500 aircraft, and we expect to extend this capability to over 3,500 aircraft over the short term”. Meanwhile, Rockwell Collins offers flight tracking via its ARINC MultiLink service and the Aireon Aircraft Locating and Emergency Response Tracking (ALERT) service is undergoing tests with the Irish Aviation Authority and is due to go live in 2018.
Whose responsibility is flight tracking?
As Paul Gibson, Portfolio Director, AIRCOM, SITAONAIR, explained to FTE, there are still some questions to be answered before real-time aircraft tracking becomes the norm rather than the exception. “I think there are a couple of issues,” he started. “One is I think there’s some debate in the industry about whether tracking is the responsibility of the air navigation service providers or the airlines. I think that debate hasn’t been fully resolved yet so I think to some extent at least the airlines are saying if it’s a safety issue then that’s what ATC is for. But the ICAO recommendation for 15-minute tracking was aimed at being something that the airlines would be expected to meet. The other thing is – and this is an issue we’re trying to help with – the lack of clarity on the technology and how it can be implemented easily. The OEMs – Boeing and Airbus – are looking at additional hardware on the aircraft in future generation of aircraft that could help with tracking. Our position has been that the tracking technology already on the aircraft is just not very easy for the airlines to use effectively. That’s the problem that we’ve been trying to solve.” Gibson explained that a wide variety of technologies exist to track aircraft, including ADS-B, ADS-C and ACARS, and SITAONAIR has tapped into these to create its own flight tracking service. However, he stated: “Ultimately, the solution will include some new equipment on the aircraft.”
He continued: “One of the issues is, and it’s kind of ironic, that the industry is rightly very focused on safety and has a lot of regulation and processes around it to keep that safety record. The ironic part is this means that something like putting a new tracking device on an aircraft doesn’t happen quickly. There’s a lot of procedure and regulation to go through before that can happen. From an airline perspective it’s very expensive and takes a very long time to install new technology onboard the aircraft. Also, from an airline’s point of view it’s reasonable for them to wait for the industry to have a standard for that equipment on the aircraft before they deploy it widely. Ultimately, that technology would need to include some kind of battery-powered back-up, because the tracking technology that is on the aircraft today is obviously reliant on the main power buses, so if for whatever reason those power buses are interrupted, then you lose the tracking, which is arguably the time when you most need it.”
SITAONAIR, Gibson explained, is now exploring how it can leverage the broadband connectivity on connected aircraft to stream data – such as engine data and aircraft health data – based on a trigger from FlightTracker. “It’s not reasonable to do that on current satellite technology all the time from all aircraft,” he said, “but it’s certainly something you could do when you need to.”
Clearly, industry suppliers are making concerted efforts to help improve and drive uptake of real-time flight tracking, but with the implementation of ICAO’s flight tracking standard not coming into effect until late 2018, it seems there is only so much that can be achieved before then. All things considered, the implementation date cannot come soon enough.
Source: FutureTravelExperience June 2016
South Korea’s largest and financially-troubled shipbuilder Hyundai Heavy Industries Co. obtained an order for a combat support ship from the navy of New Zealand - the first order in the kind in 30 years.
The Korean shipbuilder announced that it Monday signed a contract for the construction of a combat logistics ship of 23,000 tons at full load designed mainly to carry oil for battleships. The final agreement was signed in Wellington, New Zealand by Kim Jung-hwan, an executive in charge of shipbuilding business of the Korean company, and Helene Quilter, Secretary of Defense of New Zealand.
The Korean shipbuilder was selected as a preferred bidder in December last year upon beating bidders from Germany and Spain. Negotiations panned out for seven months. The contract is estimated to be worth $350 million.
The support ship would replace Endeavor, a 12,000 ton naval tanker delivered to the navy of New Zealand in 1987. The shipyard will begin the construction in February 2018 and deliver the vessel by December 2019.
Hong Kong-based Swiss-Belhotel will open its first Australian property in Brisbane on 1 November, 2016.
Located at 218 Vulture Street South Brisbane, the Swiss-Belhotel Brisbane is in close proximity to the CBD, international sporting facilities, Brisbane Convention & Exhibition Centre and three large hospitals.
In addition to its 134 guest rooms, the property will have a corporate lounge, two banquet and meeting rooms, an indoor pool and gymasium and onsite parking.
Industry veteran, Dinah-Louise Marrs has been appointed general manager. - Meeting Newz July 26, 2016
In New Zealand those in the aquaculture industry play a vital role in protecting and developing a valuable food source. Tony Rumbold, principal of SCANZ Technologies, is one of these people and supports the work of the TED organisation in it's efforts to spread information on the challenges that the world faces.
TED is a nonprofit devoted to spreading ideas, usually in the form of short, powerful talks (18 minutes or less). TED began in 1984 as a conference where Technology, Entertainment and Design converged, and today covers almost all topics — from science to business to global issues — in more than 100 languages. Meanwhile, independently run TEDx events help share ideas in communities around the world.
The subject of this particular talk is "The Case For Fish Farming"
We're headed towards a global food crisis: Nearly 3 billion people depend on the ocean for food, and at our current rate we already take more fish from the ocean than it can naturally replace.
In this fact-packed, eye-opening talk, entrepreneur and conservationist Mike Velings proposes a solution: Aquaculture, or fish farming.
"We must start using the ocean as farmers instead of hunters," he says, echoing Jacques Cousteau. "The day will come where people will demand farmed fish on their plates that's farmed well and farmed healthy — and refuse anything less."
Why you should listen to Mike Velings a man who understands the potential for business to create durable solutions to complex world problems.
Mike Velings is the co-founder and the driving force behind Aqua-Spark, a global investment fund for sustainable aquaculture, combining a healthy financial profit with environmental and social impact. A lifelong entrepreneur, Mike has spent decades jumpstarting a range of successful businesses. Among other ventures, he co-founded Connexie, which has helped catalyze a professional employment industry across the Netherlands.
Mike naturally combines his business background with environmental and social engagement. He understands the potential for business to create durable solutions to complex world problems. With this in mind, Mike founded Aqua-Spark, an investment company that assists entrepreneurs across the globe in realizing their visions of a startup with a world-changing element. Through Aqua-Spark he has invested in a broad range of ventures over the years — both in the developed and developing world.
Mike serves on several boards and is a member of the Conservation International’s Leadership Council as well as an Honorary Global Marine Fellow.
Here in New Zealand Tony Rumbold is a person who has considerable knowledge of the Aqualculture industry. It is his passion so should there be any points that arise from this talk then he is an ideal person to have a chat with. His phone number is 09 520 2544 and email: This email address is being protected from spambots. You need JavaScript enabled to view it.
In New Zealand those in the aquaculture industry play a vital role in protecting and developing a valuable food source. Tony Rumbold, principal of SCANZ Technologies, is one of these people and supports the work of the TED organisation in it's efforts to spread information on the challenges that the world faces.
TED is a nonprofit devoted to spreading ideas, usually in the form of short, powerful talks (18 minutes or less). TED began in 1984 as a conference where Technology, Entertainment and Design converged, and today covers almost all topics — from science to business to global issues — in more than 100 languages. Meanwhile, independently run TEDx events help share ideas in communities around the world.
The subject of this particular talk is "The Case For Fish Farming"
We're headed towards a global food crisis: Nearly 3 billion people depend on the ocean for food, and at our current rate we already take more fish from the ocean than it can naturally replace.
In this fact-packed, eye-opening talk, entrepreneur and conservationist Mike Velings proposes a solution: Aquaculture, or fish farming.
"We must start using the ocean as farmers instead of hunters," he says, echoing Jacques Cousteau. "The day will come where people will demand farmed fish on their plates that's farmed well and farmed healthy — and refuse anything less."
Why you should listen to Mike Velings a man who understands the potential for business to create durable solutions to complex world problems.
Mike Velings is the co-founder and the driving force behind Aqua-Spark, a global investment fund for sustainable aquaculture, combining a healthy financial profit with environmental and social impact. A lifelong entrepreneur, Mike has spent decades jumpstarting a range of successful businesses. Among other ventures, he co-founded Connexie, which has helped catalyze a professional employment industry across the Netherlands.
Mike naturally combines his business background with environmental and social engagement. He understands the potential for business to create durable solutions to complex world problems. With this in mind, Mike founded Aqua-Spark, an investment company that assists entrepreneurs across the globe in realizing their visions of a startup with a world-changing element. Through Aqua-Spark he has invested in a broad range of ventures over the years — both in the developed and developing world.
Mike serves on several boards and is a member of the Conservation International’s Leadership Council as well as an Honorary Global Marine Fellow.
Here in New Zealand Tony Rumbold is a person who has considerable knowledge of the Aqualculture industry. It is his passion so should there be any points that arise from this talk then he is an ideal person to have a chat with. His phone number is 09 520 2544 and email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242