‘Buyers strike’ is over, post-election stock rally has legs

first_img“There’s been a buyers’ strike for the last three weeks to cash,” but now that money is beginning to work its way back into stocks and helping propel the major U.S. equity indexes higher, Lee said on “Halftime Report.” “There’s been $4.5 trillion on the sidelines. Retail raised a lot of cash. People were really stressed into this. Now we have less uncertainty. Still uncertainty, but less and that’s why we’re rallying.” (This story is for CNBC Pro subscribers only.)The rally on Wall Street after Election Day may have momentum to continue into the end of the year, Fundstrat Global Advisors founder Tom Lee told CNBC on Wednesday.While the presidential race between President Donald Trump and Democratic challenger Joe Biden has not been decided, Lee said investors still have more clarity now than they did in the weeks preceding the election.- Advertisement – A trader works on the floor of the New York Stock Exchange.Adam Jeffery | CNBC – Advertisement – – Advertisement –last_img read more

Adris bought Hotel Marjan in Split

first_imgAfter more than ten years of agony, the Marjan Hotel in Split was finally sold to the Adris Group for HRK 324 million. Željko Kerum bought the Marjan Hotel in 2005 through a tender. He paid 170 million kuna, three times more than the requested 57 million kuna. Less than four years later, a contract was signed with the Hilton, while Kerum became mayor a few months later. The works on “Marjan” were soon interrupted, and in 2015 everything ended with the bankruptcy of the company “Adriatic. The purchase of Adris was expected, since in December 2017 Adria resort, a company within the Adris group, concluded an Agreement on the sale of all receivables with associated mortgages on real estate owned by the bankrupt company Adriatic dd from Split. So that another investor interested in the Marjan hotel appeared, then he should additionally buy receivables from Adris, which was unlikely. Namely, yesterday until midnight was the deadline for submitting bids through the Fina electronic public auction, and only one bid was received from Adris, writes Jutarnji list. The sale has been waiting for four years, as long as the bankruptcy proceedings of “Adriatica” last in the Commercial Court in Split, in whose portfolio this unfinished building on the West Coast is. As previously announced, Adris will invest an additional two billion kuna in the tourist part of the Group by 2021, which will put 95 percent of hotel capacity at the highest level of supply.last_img read more

UNWTO: Call for innovators and entrepreneurs to accelerate the recovery of the tourism sector

first_imgParticipants should be able to show how their ideas can help tourism in response to COVID-19. Ideas must also be tested and ready for expansion, with a business plan and potential to be implemented in several countries. Faced with an unprecedented challenge, the World Tourism Organization (UNWTO), with the support of the World Health Organization (WHO), calls on innovators and entrepreneurs to propose new solutions so that the tourism sector can recover from the coronavirus pandemic (COVID-19). Ideas that are ready to implement Call “Healing solutions” was launched in collaboration with the WHO and further enhances the joint response of the wider United Nations system to COVID-19. This global call calls on entrepreneurs and innovators to provide their ideas that can help the tourism sector to mitigate the impact of the pandemic and accelerate recovery efforts. The call is specifically aimed at finding ideas that could immediately make a difference: for destinations, for companies, and for public health efforts. The competition has started and entries close on April 10, 2020. Winners “Healing Solutions for Tourism Challenge” they will be invited to present their ideas to representatives of more than 150 governments. They will also enjoy the UNWTO access network, which includes hundreds of startups and leading companies from across the tourism sector. “Tourism is the sector that has hit COVID-19 the hardest. Our response must be strong and united. We must also embrace innovation. I invite all entrepreneurs and innovators to ideas that have been developed and are ready to be implemented to share them with us. We especially want to hear ideas that will help communities recover from this crisis, economically and socially, as well as ideas that can contribute to the public health response, ”said UNWTO Secretary-General Zurab Pololikashvili. With millions of jobs at risk because the pandemic is hitting tourism harder than any other sector, the United Nations specialized travel agency has incorporated innovation into its broader response to the pandemic. The UNWTO is working closely with the WHO to mitigate the impact and put tourism at the center of future recovery efforts, and to work closely with governments and the private sector to strengthen cooperation and international solidarity. Source and photo: Ulast_img read more

5 more Aklan villages ‘cleared of illegal drugs’

first_imgThere are now 11 barangays in Kalibo who are in drug-clear status after Old Buswang, New Buswang and Bakhaw Norte satisfied the parameters of the committee composed of the Department of Health, the Philippine National Police, Philippine Drug Enforcement Agency and the Department of Interior and Local Government on Feb. 27. BORACAY – Five more villages in the towns of Malay and Kalibo in this province have recently been declared free from illegal drugs. A drug cleared barangay is previously classified as drug-affected, then subjected to drug clearing operations and eventually declared free from any illegal drug activities. Village officials from five barangays in Kalibo, Aklan attend the checking of the documents of their respective villages by the Philippine Drug Enforcement Agency-Aklan at the DILG office of the province on Feb. 26. Their villages were cleared of illegal drugs on Feb. 27. PDEA REGION 6 The barangays of Yapak, Manocmanoc andBalabag in Boracay Island and six more barangays in mainland Malay have notbeen given the green light so far.(With areport from Akean Forum/PN) Other drug cleared barangays in Malaytown are Kabulihan, Nabaoy, Sambiray, Cogon, Dumlog and Naasug. In mainland Malay, meanwhile, there weretwo more barangays that were cleared of illegal drugs. They were Barangay Balusbosand Barangay Motag, according to the 19th regional oversight committeedeliberation in Iloilo City. The parameters were the active involvement of barangay officials in anti-drug activities and other programs, no drug laboratories, marijuana cultivation sites, drug dens, protector, financier, and drug pusher/user and the non-availability of drug supply in the barangays under the Dangerous Drugs Board (DDB) Regulation 3 Series of 2017, or Strengthening the Implementation of Barangay Drug Clearing Program. The other drug free barangays in thetown of Kalibo are Tinigaw, Caano, Mobo, Bakhaw Sur, Linabuan Norte, Briones,Nalook and Mabilo. The barangays of Poblacion, Andagao, Pook, Estancia andTigayon, on the other hand, are yet to be cleared of drugs.last_img read more

Still plenty left to play for

first_imgMarch Madness is finally here. With most conferences gearing up for their leaguetournaments this week, one of the greatest months in the sports world isfinally here. While there is a lot going on this month from spring trainingto NBA teams battling for playoff positioning to even the women?s hockey teammaking a run at a third-straight NCAA championship, college basketball is thestar of the month.And what a good month this is shaping up to be.A lot is on the line this week for teams across the country.Whether it?s teams making a case for being a No. 1 seed in the tournament orsome storied basketball programs like Syracuse, Kentucky and two-time defendingchampion Florida fighting to be included in the field of 65, it should be anexciting weekend for college basketball fans.While there will be a lot on the line across the countrythis week, there still is a lot on the line for five Big Ten teams entering theconference tournament. The Big Ten right now has four locks to make the tournamentin Indiana, Michigan State, Purdue and Wisconsin, but all will be fighting toposition themselves to get a better seed and a location close to home. Ohio State, last year?s national runner-up, has the most tofight for this weekend. The Buckeyes will most likely need to get at least oneand probably two wins in Indianapolis to make the field of 65. Getting winsover Purdue and Michigan State in the final week of the regular season willcertainly help OSU, but if the team bows out Friday, it will more than likelybe on the outside looking in. Michigan State is a lock to make it to the tournament, butthey have been one of the most inconsistent teams in the conference all year.You never know what Spartan team you are going to get: the one that managedonly 42 points at Wisconsin or the one that put up 103 at home against Indianaa couple of days later. A strongshowing in Indy will give MSU a better draw in the tournament.The same can be said for Indiana, a team that is 3-2 sinceKelvin Sampson resigned and almost lost to last-place Northwestern. Whileearlier in the season the Hoosiers looked like it would make a deep run comeMarch, it no longer seems that way. However, by winning the Big Ten tournament,Indiana could regain that swagger it had earlier in the year and be poised tomake a deep run once again. Purdue probably has the least on the line of any teams thisweekend. Yes, it can improve its seed, but the biggest thing Purdue can do ismake its case as being the best team in the Big Ten this year. The Boilermakersfell just short of at least sharing a conference crown, but should they win thetournament this weekend and possibly beat Wisconsin for the third time thisyear, Purdue could make a strong case as being the best team in the conference.Despite winning the regular season title, Wisconsin stillhas a lot to play for as well. If the Badgers make it to the championship gamethis week, and certainly if they win it, they will more than likely be given aNo. 2 seed again in the tournament. UW could join Michigan State (1999),Illinois (2005) and Ohio State (2007) as the only schools to win both theregular season and tournament titles. Wisconsin might also have a shot at getting revenge againstPurdue, should the two teams meet in the championship game, and it could alsohave a shot at breaking the school record for wins in a season set lastyear. If UW were to win thetournament title that would give it 29 wins on the year, the Badgers would onlyneed one win in the NCAA tournament to tie and two wins to break the record.Whatever happens this weekend for the Badgers and the restof the Big Ten, I know one thing for sure ? this will just be the start of anexciting time for college basketball fans.  Greg is a senior majoring in communication arts. Let him know how you think the BigTen tournament will shake out at gschmitz@badgerherald.comlast_img read more