Wholesale – Karolingische Klosterstadt http://karolingischeklosterstadt.com/ Mon, 21 Nov 2022 22:02:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 http://karolingischeklosterstadt.com/wp-content/uploads/2021/05/karolingische-klosterstadt-icon-150x150.png Wholesale – Karolingische Klosterstadt http://karolingischeklosterstadt.com/ 32 32 Virginia Wine Distributor Steely Can Wine Launches Fourth Wine, Expands Wholesale Operations http://karolingischeklosterstadt.com/virginia-wine-distributor-steely-can-wine-launches-fourth-wine-expands-wholesale-operations/ Mon, 21 Nov 2022 22:02:00 +0000 http://karolingischeklosterstadt.com/virginia-wine-distributor-steely-can-wine-launches-fourth-wine-expands-wholesale-operations/

Sonny’s Songria joins Deacon Red, Kid Chardonnay and Rosé Darling

Steely Can Wine’s new wine is Sonny’s Songria, a sweet red wine blend named for the bassist from Richmond, Va., tribute to yacht rock, Three Sheets to the Wind

With hints of citrus and spice, Sonny’s Songria is a fun and intense wine that pairs well with all things holiday. It’s best served slightly chilled, much like that time between Thanksgiving and New Years.

—Gregg Brooks

RICHMOND, VIRGINIA, USA, Nov. 21, 2022 /EINPresswire.com/ — Just in time for the cooler fall weather in November, Steely Can Wine has added a fourth wine to its lineup, a light sweet red blend and refreshing called Sonny’s Songria.

Gregg Brooks, Team Manager, says, “With a burst of citrus and spice and all-natural ingredients, Sonny’s Songria is a fun, intense wine that pairs well with all things holiday. It’s best served slightly chilled, much like that time between Thanksgiving and New Years.

Sonny’s Songria is the first Steely Can Wine release that verifies a band member’s name instead of referencing one of the bands that feature prominently in the repertoire of Richmond’s yacht rock tribute, Three Sheets to the Wind, which envisioned the wine business in 2021. After the band’s terse bassist Sonny Pockett, wine conjures up images of 1980s Miami’s club scene – when to roll up the sleeves of your linen jacket and wearing sunglasses at night was a must, and unbuttoning the first two buttons of your linen shirt was a good start. The wine label’s neon and palm tree aesthetic, designed by creative director Adam Stockton, helps set the mood.

Also this month, bandmates and “wine takers” officially launched their wholesale operation – yet another way to get their wines into the mouths of thirsty fans. The full range remains available for shipping and delivery from the Steely Can Shop, but now customers on both sides of the James River in Richmond can pick up the brightly colored cans from two local businesses: Barrel Thief Wine & Provisions on Patterson Avenue in Richmond. West End and Outpost Market on Forest Hill Avenue on the south side of town.

For store owners and restaurateurs interested in selling the wines, there is also a wholesale contact form on the Steely Can Shop site.

The cans each hold 375ml of wine, or half a standard bottle. “There is no shortage of canned wines with clever and humorous names, but we looked at our crowd and saw a market for wines that would have been just as appropriate to drink on a California beach in 1978 as to drink by the sea. pool, river or fireside in 2022,” says Brooks, whose work as a private label wine brand developer was a catalyst for the band’s side project.

Brooks had all the knowledge of the wine industry, and other members of the group brought their own expertise as creative directors, digital marketers and sales professionals, so all the pieces naturally came together. in place. While Steely Can Wine may have started out as a little prank between fun-loving band members dreaming up humorous names for canned drinks, it didn’t take long for the band to realize that their idea of canned wine had legs.

The full Steely Can Wine line also includes:

Rosé Darling: Central Coast CA / 13% ABV / 2021 / Aromas of fresh strawberries and tropical fruits, with light citrus notes. Some light floral notes, with bright fruit flavors and minerality. A clean finish with lively acidity.
Kid Chardonnay: Central Coast CA / 13% ABV / 2021 / All steel fermentation. Tropical fruits with hints of pineapple on the nose, crisp mouthfeel with lingering acidity and hints of white peach.
Deacon Red: Lodi CA / 14% ABV / 2020 / Dark garnet color, intense aromas of blueberry with hints of cassis and black cherry on the palate. Full-bodied and well-balanced with a long lingering finish.

Marshal Norton
Wine in steel can
+1 804-874-8236
Visit us on social media:

Independent petrol retailers slash prices to attract Britons as wholesale costs drop http://karolingischeklosterstadt.com/independent-petrol-retailers-slash-prices-to-attract-britons-as-wholesale-costs-drop/ Fri, 18 Nov 2022 10:47:30 +0000 http://karolingischeklosterstadt.com/independent-petrol-retailers-slash-prices-to-attract-britons-as-wholesale-costs-drop/

Friday, November 18, 2022 10:45 a.m.

Price competition has returned to the pumps, with independent forecourts challenging supermarkets and sites supplied by oil companies with better petrol deals for UK drivers.

Latest data from car group AA reveals petrol prices have fallen to 160p per liter at smaller retailers, saving up to 8p per litre.

This comes amid falling wholesale costs, which have been weighed down by lower oil prices and a stronger pound.

AA’s findings suggest that while Asda was prepared to challenge locations with local competition, other supermarket brands were happy to charge significantly more where local rivals did not put pressure on them.

This allowed independents further afield to offer fuel at significantly cheaper prices.

Despite the price difference between independents and large retailers, average prices have been falling across the UK in recent weeks, following a 2p jump at the end of October.

After averaging 164.47p pa liter in the third week of October, petrol rose rapidly to 166.54p at the end of the month before falling back to 164.42p on Monday – yesterday it was dropped to 163.70p.

Luke Bosdet, the AA’s fuel price spokesman, said: ‘As prices at the pump generally fall, drivers who have located competitive forecourts on their journeys may well have saved 10 pence a liter of petrol compared to what they were paying a fortnight earlier.

On the other hand, diesel is still 4.4 pa liter cheaper on average in a supermarket than at non-supermarket filling stations.

Diesel prices continue to rise amid supply issues and a tight market, with a price gap of more than 20p.

A month ago, diesel prices averaged 187.08p per litre, but rose to 189.02p at the start of the week before falling back to 188.12p yesterday.

Meanwhile, there are fears that fuel taxes will be increased next March.

Tory MPs are demanding assurances from Chancellor Jeremy Hunt that he will not go ahead with a planned increase when the fuel duty cut expires next March, which is projected to add 12p a liter to gasoline and diesel.

Hunt has yet to make a decision on whether to go ahead with the hike.

The fuel tax has been frozen at 52.95 pa liter since 2011.

It was cut by five pence earlier this year to give motorists some short-term respite from soaring petrol and diesel prices.

Prime Minister Rishi Sunak unveiled the temporary 12-month cut during the spring declaration in March, when he was still chancellor.

In its latest economic forecast, the Office for Budget Responsibility calculated that the hike – which is due next March – would result in a record cash boost of £5.7billion if it materializes.

Costco Wholesale (NASDAQ:COST) Aims to Maintain Impressive Returns http://karolingischeklosterstadt.com/costco-wholesale-nasdaqcost-aims-to-maintain-impressive-returns/ Sun, 13 Nov 2022 12:18:22 +0000 http://karolingischeklosterstadt.com/costco-wholesale-nasdaqcost-aims-to-maintain-impressive-returns/

Finding a business that has the potential to grow significantly isn’t easy, but it is possible if we look at a few key financial metrics. Typically, we will want to notice a growth trend come back on capital employed (ROCE) and at the same time, a base capital employed. If you see this, it usually means it’s a company with a great business model and lots of profitable reinvestment opportunities. Therefore, when we briefly examined Costco Wholesale (NASDAQ:COST) Trending ROCE, we were very pleased with what we saw.

Return on capital employed (ROCE): what is it?

For those unaware, ROCE is a measure of a company’s annual pre-tax profit (yield), relative to the capital employed in the business. To calculate this metric for Costco Wholesale, here is the formula:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)

0.24 = $7.8 billion ÷ ($64 billion – $32 billion) (Based on the last twelve months to August 2022).

Therefore, Costco Wholesale has a ROCE of 24%. That’s a fantastic return and not only that, it tops the 8.8% average earned by companies in a similar industry.

Check out our latest analysis for Costco Wholesale

NasdaqGS:COST Return on Capital Employed November 13, 2022

Above, you can see how Costco Wholesale’s current ROCE compares to its past returns on capital, but you can’t tell much about the past. If you’re interested, you can check out analyst forecasts in our free analyst forecast report for the company.

What is the return trend?

In terms of Costco Wholesale’s ROCE history, that’s pretty impressive. The company has employed 72% more capital over the past five years, and the return on that capital has remained stable at 24%. Now considering the ROCE is an attractive 24%, this combination is actually quite attractive because it means the company can consistently put money to work and generate those high returns. If Costco Wholesale can continue like this, we would be very optimistic about its future.

On a separate but related note, it’s important to know that Costco Wholesale has a current liabilities to total assets ratio of 50%, which we would consider quite high. This effectively means that suppliers (or short-term creditors) finance a large part of the business, so just be aware that this may introduce some elements of risk. Ideally, we would like this to decrease, as this would mean fewer risky bonds.

In conclusion…

In summary, we are pleased to see that Costco Wholesale has accrued returns by reinvesting at consistently high rates of return, as these are common characteristics of a multi-bagger. And long-term investors would be delighted with the 223% return they’ve received over the past five years. So while the stock may be more “expensive” than it used to be, we believe the strong fundamentals warrant this stock for further research.

If you want to further research Costco Wholesale, you may be interested in knowing the 1 warning sign that our analysis found.

If you want to see other businesses earning high returns, check out our free list of companies earning high returns with strong balance sheets here.

Valuation is complex, but we help make it simple.

Find out if Wholesale Costco is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

Kellogg Company and Associated Wholesale Grocers Team Up to Donate Thousands of Dollars to Food Banks Feeding America http://karolingischeklosterstadt.com/kellogg-company-and-associated-wholesale-grocers-team-up-to-donate-thousands-of-dollars-to-food-banks-feeding-america/ Thu, 10 Nov 2022 18:52:57 +0000 http://karolingischeklosterstadt.com/kellogg-company-and-associated-wholesale-grocers-team-up-to-donate-thousands-of-dollars-to-food-banks-feeding-america/

KANSAS CITY, Kan. – Kellogg Company and Associated Wholesale Grocers, Inc. (AWG) donated $25,000 to food banks in the Feeding America network. The donation was made through AWG Cares, the charitable foundation run by AWG employees.

“We share Associated Wholesale Grocers’ commitment to helping ensure families are fed and thriving, and we’re proud to stand with them in supporting our communities,” said Daniel Nazario, vice president, accounts at sale, Kellogg Company. “We are thrilled to support Feeding America with this donation – it’s part of our Better Days pledge to advance sustainable and equitable access to food for 3 billion people by the end of 2030.”

Kellogg’s began considering a charity campaign with AWG in early 2021. With both companies supporting hunger relief efforts, teaming up in a joint effort was an obvious choice. Combining friendly sales competition between AWG’s eleven fulfillment centers, this creative campaign was the first of its kind for the AWG Cares employee charitable foundation in 2021. Now in its second year, the two companies are delighted to increase the total donation to Feeding America this year.

Donations were made to a Feeding America food bank in each region where AWG has a distribution center. Donations were based on sales of selected Kellogg’s items during a contest period. The fulfillment center with the highest gross sales volume received a $10,000 donation to their local food bank. Second place received $5,000 and third place received $2,000. The remaining eight fulfillment centers all received a $1,000 donation in their region, making the entire AWG trade area the winners.

“We are thrilled to partner with the Kellogg Company for the second year in a row in a wonderful campaign to support hunger relief efforts in the communities served by AWG Member-Retailers and Teammates,” said said Lori Turner, president of AWG Cares, the employee-run charitable foundation company. “We are truly honored to see the impact our AWG Cares Foundation is having in helping our communities by partnering with like-minded businesses like the Kellogg Company.”

The AWG Cares Employee Charitable Foundation was established in 2017. Since its inception, the foundation has given more than $400,000 to charities focused on three critical areas: hunger and homelessness, research, and medical supplies and disaster relief.



At Kellogg Company (NYSE: K), our vision is a good and just world where people are not just nourished but fulfilled. We’re creating better days and a place at the table for everyone with our trusted food brands. Our beloved brands include Pringles®, Cheez-It®, Special K®, Kellogg’s Frosted Flakes®, PopTarts®, Kellogg’s Corn Flakes®, Rice Krispies®, Eggo®, Mini-Wheats®, Kashi®, RXBAR®, MorningStar Farms® and more. Net sales in 2021 were nearly $14.2 billion, comprised mostly of snacks as well as convenience foods like cereals, frozen foods and noodles. As part of our Better days from Kellogg’s® ESG strategy, we tackle the interconnected issues of wellbeing, climate and food security, creating better days for 3 billion people by the end of 2030. Visit www.KelloggCompany.com.


Associated Wholesale Grocers, Inc. (AWG) is the nation’s largest cooperative food wholesaler for independent supermarkets, serving more than 1,100 member businesses and more than 3,400 locations in 31 states from 9 wholesale divisions. AWG’s consolidated current sales are approximately $10.8 billion. In addition to its cooperative wholesale operations, the Company also operates subsidiaries that provide certain property development and supermarket services, print and digital marketing services, as well as health and beauty care, general merchandise, specialty/international foods and pharmaceuticals. For more information, visit www.awginc.com or follow @AWGCorporate on Twitter.

Grovara Food Week brings export/import experts and industry leaders to Dubai to help brands build distribution partnerships during Dubai Global Connect http://karolingischeklosterstadt.com/grovara-food-week-brings-export-import-experts-and-industry-leaders-to-dubai-to-help-brands-build-distribution-partnerships-during-dubai-global-connect/ Mon, 07 Nov 2022 19:34:00 +0000 http://karolingischeklosterstadt.com/grovara-food-week-brings-export-import-experts-and-industry-leaders-to-dubai-to-help-brands-build-distribution-partnerships-during-dubai-global-connect/

PHILADELPHIA CREAM, November 7, 2022 /PRNewswire/ — Grovara, the wholesale export and import marketplace for consumer brands, has brought together a range of experts from export/import leaders and industry innovators to Grovara Food Week at Dubai Global Connect (DGC) on November 9 to 11 in dubaihelping participating North American brands expand their international sales capability across the Middle East.

The Trade Mission is a partnership between Grovara and DGC, a permanent wholesale marketplace that facilitates business between international buyers and sellers and is a key pillar of that of Dubai efforts to return to its roots as a regional and global trading hub. Luis Alfonso de Alba, from Mexico ambassador to the United Arab Emirateswill deliver a keynote address.

“We have established a framework for brands to learn and start building overseas distribution in dubai at Grovara Food Week thanks to Grovara’s many partnerships and our own expertise here and around the world Middle East“says the co-founder and CEO of Grovara Abu Kamara.

Fifteen export-ready brands, representing a diverse range of products from promising, innovative or well-established healthier food and beverage manufacturers and spanning many trending categories, are looking to establish distribution partnerships in the region and boost their international sales channel. Grovara’s list of panelists includes leaders from government, data, logistics, technology and manufacturing.

“Grovara Food Week is a perfect opportunity for North American natural product brands to get to know each other and learn from Middle East retail,” says Pierre Guyer, President and Founder of Athena Marketing International, a leading export marketing, business development and sales management firm that has helped hundreds of North American brands expand overseas. “All participants will also share resources to facilitate trade and the growth of their respective businesses.”

Guyer will be part of a session focusing on what companies and exporters need to know about doing business in the Middle East/North Africa Region with the panelists Makram MalaaebCEO of Kuwait Agro; Feda Saimua, partner at Emirates Snacks; and Manish KeshwaniGrowth & Alliances Director at TLM International.

“Our panel will share some of our learnings, both successes and failures, and the do’s and don’ts of exporting your brands to overseas markets,” says Guyer. “We will also share our deep expertise in the Middle East markets and understanding the complex regulatory and import requirements needed to enter these new markets.

Other sessions include:

For more information about Grovara Food Week, visit Grovara.com.


Grovara enables an easy global wholesale experience as the only B2B online marketplace for export/import. With only 1 in 10 brands selling overseas, Grovara facilitates global commerce with a lightweight, technology-driven platform that provides tools for automation and intelligence. Grovara leverages visibility, discovery, and an intuitive user experience to facilitate transactions and management, creating a streamlined path to dynamic global growth potential. With its headquarters at philadelphia cream and offices at Mexico and dubai, Govara supports thousands of CPG products and thousands of buyers in over 50 countries. For more information or to join the curated ecosystem, please visit Grovara.com.

Alyssia PortéeMarketing director
[email protected]

SOURCE Grovara

]]> BT Wholesale brings EE’s mobile connectivity to its partners http://karolingischeklosterstadt.com/bt-wholesale-brings-ees-mobile-connectivity-to-its-partners/ Thu, 03 Nov 2022 11:02:21 +0000 http://karolingischeklosterstadt.com/bt-wholesale-brings-ees-mobile-connectivity-to-its-partners/

BT Wholesale has announced that it is making EE connectivity available to its partners on a direct and wholesale basis via the EE mobile SIM card.

Due to launch in early 2023 upon completion of trials, members of BT Wholesale’s Partner Plus program will be able to sell EE SIM cards and provide customers with 4G and 5G connectivity.

In an announcement, the company said the move will strengthen resellers’ ability to support the evolving all-IP needs and go-to-market strategies of end users. It also supports the abandonment of legacy voice configurations and helps prepare businesses for the next PSTN outage coming in 2025.

“We are constantly striving to make it easier for each other to do business, and for that it is essential to ensure that we provide what our partners want,” said Gavin Jones, Director of Channel Partners at BT Wholesale. “For many, it was EE mobile. Allowing resellers to sell EE mobile SIM cards is the latest proof of our commitment to helping our partners thrive.

The upcoming PSTN shutdown has accelerated the need for businesses and individuals to move away from legacy setups. Scheduled for 2025, the event will see the UK’s traditional telephone network shut down, with traditional telephony products being pulled from the shelves. Every phone line in the country, whether personal or business, will then be IP-based.

As companies move away from these legacy voice services, Jones said the company’s goal is to provide partners with “complete convergence” between fiber, cloud voice and mobile.

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“The EE mobile SIM card is another way to provide unparalleled access, but partners need it,” he continued. “Ultimately, this helps resellers maximize relationships as customers take more control of their digital destiny.”

EE was the first network provider to launch 5G in the UK and now claims that over 50% of the UK population can use its 5G services. The company said it now aims to extend coverage to 90% of the UK landmass with 5G by 2028, with on-demand and on-demand solutions.

“Making EE SIM cards available through a wholesale model means partners can offer customers the power of the UK’s best mobile networks and largest fixed broadband networks,” Jones said.

“The pandemic has taught the channel that we need to be more flexible in our approach, and that is reflected in our launches. We provide our partners with flexibility and choice so they can pass this on to their customers as they accelerate their own digital journeys.

The move is the latest in a series of channel developments for BT Wholesale. Last year, the company launched WHC Express, a cloud-based phone system for businesses with ten or fewer employees to help them make and receive calls on fixed and mobile devices.

It also unveiled Broadband One, its end-to-end managed service that enables partners to provide small businesses with connections of up to 1Gps over FTTP and SoGEA.

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Liberty Global: Virgin Media Ireland Announces Wholesale Deal with VodafoneVirgin Media Ireland and Vodafone Ireland have today entered into a wholesale network access agreement, which will see Vodafone offer… http://karolingischeklosterstadt.com/liberty-global-virgin-media-ireland-announces-wholesale-deal-with-vodafonevirgin-media-ireland-and-vodafone-ireland-have-today-entered-into-a-wholesale-network-access-agreement-which-will-see-vodafo/ Thu, 27 Oct 2022 11:37:13 +0000 http://karolingischeklosterstadt.com/liberty-global-virgin-media-ireland-announces-wholesale-deal-with-vodafonevirgin-media-ireland-and-vodafone-ireland-have-today-entered-into-a-wholesale-network-access-agreement-which-will-see-vodafo/

Virgin Media Ireland and Vodafone Ireland have today entered into a wholesale network access agreement, which will see Vodafone offer its customers fixed line broadband services using Virgin’s super-fast fiber broadband network Media.

Thanks to this new wholesale network access agreement between the companies, Vodafone customers will now have more choice and can benefit from Virgin Media’s expanding fiber network which runs through 1 million premises across Ireland, offering broadband speeds of 1 Gbps (gigabits per second).

Virgin Media is currently advancing a €200 million project to upgrade its network over the next three years, which will enable it to support speeds of up to 10 Gbps. It has already upgraded over 150,000 premises to fiber on the Virgin network.

Tony Hanway, Managing Director of Virgin Media Ireland, said: “We are very pleased to provide network access opportunities for other operators for the first time and welcome Vodafone as our first wholesale network partner. All systems are working as we continue to expand our network nationwide and bring ultra-fast fiber optic connectivity to over 240,000 homes by the end of 2022 and over 1 million homes by the end of 2022. ‘by 2025. Our entry into the wholesale market will support more competition while improving service delivery for consumers, businesses and communities across Ireland. »

Amanda Nelson, CEO of Vodafone Ireland said“As Ireland’s largest fibre-to-the-home provider and the fastest growing broadband provider over the last 12 months, we are always looking for new and innovative ways to deliver the best products and solutions to our customers.Our new broadband partnership with Virgin Media means that Vodafone customers will be able to take advantage of their Fiber to the Premise network, while continuing to switch to fiber across the country.

“Having recently celebrated 21 years in Ireland, we look forward to supporting our customers and businesses across the country for the long term, ensuring balanced regional development and a resilient and strengthened economy. Partnerships such as this demonstrate our continued focus on our significant network investment strategy, as we seek to continually upgrade and refresh our capabilities in Ireland.”


Liberty Global plc published this content on October 27, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on October 27, 2022 11:36:14 AM UTC.

]]> CCTV script 10/24/22 http://karolingischeklosterstadt.com/cctv-script-10-24-22/ Mon, 24 Oct 2022 03:43:00 +0000 http://karolingischeklosterstadt.com/cctv-script-10-24-22/

– This is the script for CNBC’s financial report for China’s CCTV on October 24, 2022.

How to survive this coming winter is the main concern of millions of Eastern Europeans right now. Since the Russian-Ukrainian conflict earlier this year, wholesale electricity prices in some Eastern European countries have skyrocketed.

Although electricity prices in September fell slightly compared to August, they are still at high levels. In Hungary, wholesale electricity prices are €390.42/MWh, or around 2,789 RMB, and in Slovakia and Bulgaria: €386.52/MWh; and €375.13 per MWh, respectively.

Some analyzes suggest that fuel poverty rates will increase significantly in many Eastern European countries, such as Hungary, Slovakia and Bulgaria. The concept of energy poverty refers to people who do not have enough energy to make a difference in their lives, such as not being able to heat their home in winter or cool their home in summer. Economists fear that if energy and food prices continue to rise, many people will fall into poverty and those already below the poverty line will fall into extreme poverty.

Due to high energy prices, many Eastern European governments are focusing on heating issues rather than environmental issues such as climate change.

In Hungary, for example, logging rules have been relaxed and an increase in lignite mining has been ordered. Lignite is the most polluting fossil fuel due to its high sulfur content. And now lignite is not only a fuel for Hungarian power plants, but is also used by many households for heating.

In Sofia, the capital of Bulgaria, people are hoarding firewood and the price of firewood has gone from 100 leva per cubic meter to 180 leva currently.

In Romania, where more than half of the population uses firewood for heating, the government not only issues vouchers to subsidize the purchase of firewood, but also limits the price of firewood to help households ordinary people to reduce their energy expenditure. The non-profit WWF has warned this will increase illegal logging.

In Poland, where some 2 million households are affected by a coal shortage, Jarosław Kaczyński, Poland’s deputy prime minister, has told people to burn “everything except tires” for warmth.

All of these actions will lead to more air pollution, which will affect people’s health.

Solid fuels like firewood emit many harmful pollutants, such as fine particles that affect lung development and aggravate asthma and heart disease.

A mayor in Slovakia said his city was “going back 50 years” in terms of heating methods and pollution, and suddenly people didn’t care about smog and haze anymore. There is now a difficult choice to be made in Eastern European countries between home heating and air pollution.

EU summit divided over wholesale gas price cap | European Union http://karolingischeklosterstadt.com/eu-summit-divided-over-wholesale-gas-price-cap-european-union/ Thu, 20 Oct 2022 19:21:00 +0000 http://karolingischeklosterstadt.com/eu-summit-divided-over-wholesale-gas-price-cap-european-union/

European leaders laid out their differences over how to respond to the energy price shock at a summit devoted to the war in Ukraine and its aftermath.

Leaders are meeting for the second time in two weeks to discuss the difficult issue of energy price caps, amid demand for action against soaring gas prices following the invasion of Ukraine by Russia.

Under strong pressure from Paris, Rome and Madrid, the European Commission proposed a mechanism to prevent “extreme volatility and excessive prices” by blocking gas transactions above a certain level. But the EU executive said this “correction mechanism” was only a last resort “if needed”, below the price cap demanded by 15 member states.

Inspired by the common purchase of vaccines during the Covid crisis, the commission wants countries to team up to buy gas, increasing their leverage over sellers.

While the joint gas purchase proposals have received broad support, the price cap plans are deeply divisive.

Germany, Europe’s biggest economy and biggest consumer of gas, backed by the Netherlands, fears that any attempt to cap prices could backfire if tankers loaded with liquefied natural gas instead sail to Asia.

“LNG carriers currently sitting off Spain would sail to Japan and Korea,” German government sources said. The commission’s idea of ​​setting a “dynamic” price cap, which would put European prices ahead of Asian prices, has also led these countries to worry about alienating allies like Japan and South Korea.

Arrived at the top, the German chancellor, Olaf Scholz, launched a conciliatory note: “It is clear that the prices of gas, oil and coal must fall. Electricity prices must come down. And this is something that requires a common effort from all of us in Europe.

Diplomats downplayed expectations of a price cap agreement emerging at the summit, pointing to the technical complexities, as well as the political challenge of designing a common policy for 27 countries with vastly different energy mixes.

Before Vladimir Putin’s invasion of Ukraine, the EU got 40% of its gas imports from Russia, but today that figure has fallen to 7.5%. Some Central European Member States still receive relatively large quantities of Russian gas, while others, Cyprus and Sweden, use no or very little gas in their energy mix.

France, Italy, Spain and Poland are among 15 member states that have pushed for some form of price caps and accused the Commission of being too slow to react to the crisis.

The impasse over the price cap is worsening relations between Berlin and Paris, with a regular Franco-German ministerial council scheduled for next week postponed until January. Emmanuel Macron played down the decision to delay the meeting, saying he still wanted to “preserve European unity” and the Franco-German alliance. But he made his displeasure with Berlin clear, saying: “It’s not good for Germany or for Europe that they isolate themselves.”

The French president said he had “two very simple objectives”, lowering the price of gas and “absolutely preserving our unity”.

Since the EU launched a series of emergency plans to save energy, gas prices in Europe have fallen from summer highs. But many EU insiders fear the winter of 2023-24 could be even more trying, increasing political pressure for price action.

Latvian Prime Minister Krišjānis Kariņš, a supporter of the cap, said: “If we can reduce the cost of imported energy, it will help poor and rich countries. Although he added that the best solution would have been “if we had never had a dependency on Russia”.

Dutch Prime Minister Mark Rutte, who predicted a long night ahead, suggested there was little hope for a breakthrough on the price cap. He said: ‘It will probably be about asking the commission to further evaluate a few options and generally agree on things like joint purchases.’

But even the joint procurement plan has drawn criticism from right-wing nationalist governments in Poland and Hungary, which are allergic to strict EU surveillance. Warsaw and Budapest are resisting the idea of ​​making participation in common public procurement mandatory, which EU officials say is essential for the system to work.

Polish Prime Minister Mateusz Morawiecki renewed his government’s longstanding criticism of Germany, saying: “In theory, cheap Russian gas was supposed to be a blessing for the German economy. In practice, it has become a curse for all of Europe.

Ahead of the meeting, Hungarian Prime Minister Viktor Orbán tweeted: “Brussels latest plan on joint gas supply reminds me of the time we bought vaccines together. Slow and costly,” he said, anticipating a “huge debate” at the top.

Meanwhile, Germany faced a backlash from environmentalists when a leaked document emerged showing Berlin was in favor of developing new gas fields. The EU should “work with countries that have the capacity to develop new gas fields, within the commitments of the Paris climate agreement,” said the leaked document seen by the Guardian.

Greenpeace called the idea ridiculous. “The deepening of Europe’s long-term dependence on gas will not help people heat their homes this winter, it will only make the climate crisis worse,” the NGO said.

The heated debate follows sharp criticism of Berlin’s planned €200bn (£174bn) ‘energy shield’, which will subsidize electricity for households and businesses to mitigate the loss of cheap Russian gas.

EU critics say the plan is unfair and risks distorting the EU’s single market because member states without such deep coffers cannot support their consumers in the same way.

German officials believe critics were not always aware of the details and argue the actions are similar to those taken by other countries, such as France and the Netherlands.

SC plans to allow wholesale funds to gain exposure to alternative assets http://karolingischeklosterstadt.com/sc-plans-to-allow-wholesale-funds-to-gain-exposure-to-alternative-assets/ Mon, 17 Oct 2022 23:59:05 +0000 http://karolingischeklosterstadt.com/sc-plans-to-allow-wholesale-funds-to-gain-exposure-to-alternative-assets/

KUALA LUMPUR: The Securities Commission (SC) plans to allow the wholesale funds market to gain exposure to alternative assets such as digital assets, investment accounts and investment notes.

This follows the liberalization of measures for exchange-traded funds and private pension schemes (PRS) last month, allowing retail funds to have exposure to invest in digital assets and investment accounts, said SC Chairman Datuk Seri Awang Adek Hussin.

“As one of our oldest and largest market segments, the unit trust industry must first and foremost adapt to changing demand.

“The search for yield has shifted investor preferences from traditional products to alternative assets and sustainable and responsible investments (SRI).

“Going forward, this trend is expected to continue, alongside new product innovations and a higher interest rate environment,” he said at the annual convention of the Federation of Investment Managers. Malaysian Investments (FIMM) and Industry Education Series.

Awang Adek also announced that its training and development arm, Securities Industry Development Corp, will introduce SRI certification for market professionals in 2023.

The certificate will build capacity in the industry, especially those involved in fund distribution, such as unit trusts and PRS consultants, Bernama reported.

“Better equipped intermediaries will increase investor confidence and participation in the SRI asset class.

“After the pandemic, retirement adequacy has become an urgent national concern. It also presents an opportunity to improve PRS offerings, through a better understanding of investor behaviors, and to narrow the retirement savings gap,” he said.

Amid growing demand, he reminded market intermediaries to continue to act in the best interest of their investors.

“The SC will not hesitate to take legal action in the event of misconduct by consultants. In fact, we have imposed penalties of over RM4mil from 2020 to 2022.

“In terms of conduct, the SC acted against consultants for failure to explain the unitary trust fund marketed, for providing performance guarantees, unauthorized transactions on client accounts and the dissemination of false or misleading information “, he noted.

He said FIMM, as a self-regulatory organization, must also continue to hold “bad actors” accountable.