11 events to accompany Smithsonian exhibition in Essex | News | gloucestertimes.com Gloucester Daily Times
11 events to accompany Smithsonian exhibition in Essex
Tag: FUND
increased tourism taxes could help fund facility at Lane Events Center – The Register-Guard
increased tourism taxes could help fund facility at Lane Events Center The Register-Guard
Waikato events secure $3m in Government funding
Among the events that received funding in the first round was the Middle-Earth Halfling Marathon, staged at Hobbiton Movie Set. Photo / Supplied
A total of 34 events across the Waikato, Rotorua, Taupō and Ruapehu regions will receive nearly $3 million in funding from the Government’s Thermal Explorer Regional Events Fund.
The fund was set up by the Ministry of Business, Innovation and Employment to support and provide new domestic visitation opportunities for the events and tourism sectors which have been severely impacted by the Covid-19 pandemic.
Regional tourism organisations from across the country have been appointed as facilitators of the fund.
Last year’s round of funding supported 15 events in the region with $1.6m while the latest allocation gives $1.3m to 19 events.
The events receiving funding support are a mixture of new and existing ones from diverse interest areas including business, sport, fitness, trail running, cars, music, and culture.
In total, the 34 events are predicted to attract over 300,000 people, with two-thirds being visitors from outside each host region. Some events have three-year funding agreements while others have received a one-year investment to boost their development.
Among the events that received funding in the first round was the Middle-Earth Halfling Marathon, staged at Hobbiton Movie Set at the end of April this year.
This inaugural event drew in 2500 people including 1000 competitors, some of whom dressed in costume. They ran or walked one of two distances around the picturesque village of Hobbiton, either the halfling (21.1km) or the eleventy-first (11.1km).
Middle-Earth Halfling Marathon event director Matt Reilly, of The Events Agency, says the Thermal Explorer funding enabled the event to get off the ground.
“The support gave us the seed funding necessary for us to be able to confidently move forward with developing what proved to be a successful event even in its first year and will only grow in the years to come.
“We’re already out there inviting runners and their supporters to mark their calendars for next year’s Middle-Earth Halfling Marathon.”
Other events that secured funding include New Zealand’s Fitness Festival and hunting and outdoor expo Sika Show, both set to take place at Mystery Creek in October, the Waitomo Trail Run in November and the Hamilton Gardens Arts Festival in February and March next year.
The Thermal Explorer Event Investment Panel that facilitates the fund is made up of eight members and Hamilton & Waikato Tourism is the lead entity.
Hamilton & Waikato Tourism chief executive Nicola Greenwell says the regions and event organisers are “immensely excited” about the opportunities made possible through the funding.
“The support allows the funded events to be developed, positioned and marketed to be or become an iconic or anchor event for the host region, growing exponentially each event, attracting out-of-region visitation, encouraging economic benefit and boosting capability in our events sector.”
Greenwell says the focus will now be on developing events sector capability across the Thermal Explorer regions.
“The ongoing upskilling of our events sector will best position the events being staged in our regions to be extraordinarily successful and sought after – not only by our local communities but also visitors to each of our regions.
“We’ve already held some well-attended capability-building workshops and webinars and we are expanding these along with other development initiatives.”
For more information on the Thermal Explorer Regional Events Fund and to view the full list of funding recipients, visit the Hamilton & Waikato Tourism website.
Should recent events at Axis Mutual Fund worry India’s retail investors?
India’s seventh biggest mutual fund house, Axis Mutual Fund, suspended two fund managers last Friday pending the completion of an investigation it has been conducting over the last two months.
(VO 1)
While the nature of the irregularities was not revealed, media reports say the fund managers were allegedly involved in front-running the trades of the mutual fund on their personal accounts.
Front-running is a dubious market practice in which an insider — who is privy to a big future transaction by a fund or big investor — takes advantage of the information. Large orders usually move a stock’s price and the insider buys shares just before the big order hits the market and sells them once the price moves up. It can adversely affect the investor in the fund and is banned in India. Several cases of front running have come to the fore earlier too.
Last year, Sebi had taken action against three dealers of Reliance Securities for front-running the trades of Tata Absolute Return Fund, an alternative investment fund.
In 2006-07, the markets regulator found that an equity dealer at HDFC Mutual Fund was passing on trading information to an outsider entity.
The suspended fund managers allegedly informed brokers about stocks that they intended to buy in large quantities. The modus operandi was to benefit from a potential movement in stocks due to large orders from the fund house.
The fund house has now reassigned their responsibilities to other fund managers in seven schemes, which have combined assets under management of over Rs 7,700 crore.
A financial daily reported that a preliminary investigation pointed to front running in as many as nine stocks that led to ill-gotten gain to the tune of Rs 170 crore.
Business Standard on Monday reported that Sebi is examining allegations of front-running and other irregularities against a number of domestic fund managers.
Developments at Axis Mutual Fund have reportedly prompted Sebi to speed up the probe to ensure that there is no drop in confidence in the Rs 39-trillion domestic mutual fund (MF) industry.
Axis Mutual Fund’s MD and CEO Chandresh Nigam tried to play it down, saying the recent developments do not impact the portfolios held by any of the schemes of Axis Mutual Fund.
In a letter to investors, he said the fund house has not put any restriction on redemptions. Axis Mutual Fund manages assets worth Rs 2.59 trillion.
India has more than 2.4 crore mutual fund investors with 10.3 crore folios. Should they worry over the recent events?
According to Deven Choksey, Managing Director, KR Choksey Investment Manager, possible front-running does not impact fund management, but investors should judge based on the performance of the fund. He says, front-running is a common problem in this industry across the globe and there are existing checks and balances which will be strengthened further.
Shriram Subramanian, founder and MD of InGovern Research Services, says that retail investors need not react in a knee jerk manner but should demand more transparency from the fund house
Speaking to Business Standard, Subramanian says, investors do not need to have a knee jerk reaction to Axis MF episode, as it doesn’t seem to be a systemic issue within Axis MF. But so far Axis MF and Sebi were not forthcoming about what transpired, and investors should seek an explanation from Axis Mutual Fund. A detailed explanation is necessary from the fund house, he says.
Experts say that the Axis Mutual Fund episode should be treated as an isolated incident and retail investors should not be too worried. However, in order for the mutual fund industry to hold on to the trust it has built over decades, transparency from the regulator as well as fund houses is paramount. Sebi should also take stringent steps against front runners. Barring erring entities from markets for a short period may not be enough.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
Children’s Trust Fund observes Child Abuse Prevention Month, Activities, events around the state culminate in April 26 gathering at State Capitol
Children’s Trust Fund observes Child Abuse Prevention Month
Activities, events around the state culminate in April 26 gathering at State Capitol
FOR IMMEDIATE RELEASE: April 18, 2022
CONTACT: Bob Wheaton, 517-241-2112
LANSING, Mich. – Michigan’s Children’s Trust Fund is recognizing the importance of preventing child abuse and neglect with a month of activities that will culminate with an April 26 ceremony on the lawn of the State Capitol.
Activities and initiatives through Michigan this month will center on the symbolic blue and silver pinwheel of Prevent Child Abuse America, which serves as a visual representation that everyone plays a role in providing children with a bright future.
The mission of the Children’s Trust Fund to keep children safe and strengthen families across the state takes special significance each April for Child Abuse Prevention Month.
As the only statewide organization dedicated to the prevention of child abuse and neglect, the work of the Children’s Trust Fund – which is within the Michigan Department of Health and Human Services (MDHHS) – supports local programs and services that touch all 83 Michigan counties.
“Prevent Child Abuse America introduced the Pinwheels for Prevention campaign in 2008,” said Suzanne Greenberg, executive director of the Children’s Trust Fund. “The pinwheels are a representation of child-like whimsy and lightheartedness as well as a vision for a world where all children grow up happy, healthy, and prepared to succeed in supportive families and communities.”
The Power of the Pinwheel is the theme of this year’s pinwheel campaign. Through the 100-plus prevention partners of the Children’s Trust Fund and this year’s statewide partnership with Blue Cross Blue Shield of Michigan, supporters of preventing child abuse are planting 50,000 pinwheels in hundreds of gardens throughout the state.
The 14th annual Child Abuse Prevention Awareness Day rally is 11 a.m. April 26 on the steps of the Michigan Capitol. Featured speakers this year include MDHHS Director Elizabeth Hertel. The inaugural Inspire Award winner for volunteer service and commitment to preventing child abuse and neglect in Michigan will be presented to Sharon Barry of Barry County.
“We are thrilled that our new partnership with Blue Cross Blue Shield of Michigan is giving us farther reach to expand and amplify our message for Child Abuse Prevention Month,” Greenberg said. “When we recognize that child abuse and neglect affect each of us and can unite under a common cause, we are giving hope to every child in our state and ensuring Michigan secures a stronger future.”
For information on the Children’s Trust Fund and Child Abuse Prevention Month, visit michigan.gov/ctf.
# # #
About the Children’s Trust Fund
Created by the Michigan Legislature in 1982, the Children’s Trust Fund is Michigan’s only statewide nonprofit organization solely dedicated to the prevention of child abuse and neglect. The Children’s Trust Fund serves as a voice for Michigan’s children and families and promotes their health, safety and welfare by funding effective local programs and services that prevent child abuse and neglect.
Events leading up to ex-Goldman banker’s 1MDB graft trial
NEW YORK, Feb 14 – Former Goldman Sachs (GS.N) banker Roger Ng is accused of bribery and money laundering charges in connection with the multibillion-dollar looting of Malaysia’s 1MDB sovereign wealth fund.
Here is a timeline of key events leading up to the trial.
April 2014 – Ng, Goldman Sachs’ managing director and head of Southeast Asia sales for fixed income, currencies and commodities, leaves the bank for unspecified reasons. Ng had helped the company win business with Malaysian state fund 1Malaysia Development Berhad (1MDB).
Register now for FREE unlimited access to Reuters.com
Register
July 2015 – The Wall Street Journal reports that Malaysian investigators have traced nearly $700 million from entities linked to 1MDB to bank accounts in the name of Malaysian Prime Minister Najib Razak. He denies the allegations, calling the reports “political sabotage.”
February 2016 – Tim Leissner, senior Goldman Sachs investment banker and chairman of its Southeast Asia business, leaves the bank. Leissner had helped arrange the sale of U.S. dollar bonds for 1MDB. The bank drew criticism from Malaysian politicians over the hefty amount it earned from these transactions.
July 2016 – The U.S. Department of Justice files lawsuits seeking to seize dozens of properties tied to 1MDB, saying that over $3.5 billion was misappropriated. The funds were used to purchase high-end real estate, jewelry and artwork, and finance the production of the Hollywood film “The Wolf of Wall Street,” the lawsuits allege.
July 2018 – Najib is arrested by Malaysian authorities on charges linked to the 1MDB scandal. He had led the country for nearly a decade and recently lost a bid for reelection.
November 2018 – U.S. prosecutors in Brooklyn unveil criminal charges against Leissner, Ng and Malaysian financier Low Taek Jho, alleging they conspired to launder money and bribe government officials in Malaysia and Abu Dhabi through the 1MDB bond offerings. Leissner pleads guilty to conspiracy charges and agrees to forfeit $43.7 million. Ng is detained in Malaysia.
December 2018 – Malaysia files criminal charges related to the scandal against Goldman Sachs, Leissner, Ng, Low and other individuals.Low has not been arrested by U.S. or Malaysian authorities.
May 2019 – Ng is extradited to the United States and pleads not guilty to criminal charges.
August 2019 – Malaysia files criminal charges against 17 current and former directors at subsidiaries of Goldman Sachs as a result of its 1MDB probe.
July 2020 – Najib is convicted of corruption and sentenced to 12 years in jail.
October 2020 – Goldman says it will claw back $174 million in executive compensation and pay $2.9 billion to settle with the U.S. Department of Justice and other U.S. and overseas regulators over its role in the scandal. The bank’s Malaysia subsidiary pleads guilty to conspiracy in a U.S. court.
December 2021 – A Malaysian court upholds Najib’s conviction on corruption charges over the 1MDB scandal. He says he will appeal the decision to Malaysia’s top tribunal.
Feb. 8, 2022 – Chief Judge Margo Brodie selects 12 jurors and six alternates to hear the case, which is estimated to last five to six weeks.
Feb. 14, 2022 – Opening arguments begin.
Register now for FREE unlimited access to Reuters.com
Register
Reporting by Jody Godoy in New York; Editing by Richard Chang
Our Standards: The Thomson Reuters Trust Principles.
