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TRSDC is grooming a new breed of Saudi hospitality professionals to put the Kingdom firmly on the global tourism map

RIYADH: A few years ago, it was a bit inconceivable to see tourists in large numbers swimming in the Saudi Red Sea or marveling at the breathtaking natural habitats of nearby islands.

Frankly, the Kingdom has never been on the radar screen of potential European, American and Asian tourists as most of these visitors have preferred to vacation in more popular tourist destinations.

However, that is about to change.

The Saudi government, keen to diversify its economy and reduce its dependence on oil as its main source of revenue, has embarked on an ambitious multi-billion dollar plan to make the Red Sea a major tourist attraction.

To achieve this goal, the Kingdom established The Red Sea Development Co., which was incorporated as a closed joint stock company wholly owned by the Saudi Public Investment Fund.

The company’s main task is to develop and promote a new international luxury tourism destination that will set high standards for sustainability and bring the next generation of luxury travel.

According to the company, the development will provide unprecedented investment options and allow visitors to explore the five unspoiled treasures of the Kingdom’s west coast: the archipelago of more than 90 islands with stunning coral reefs, dormant volcanoes and pristine nature reserves.

The new destination, which covers an area of ​​28,000 km2, is located between Umluj and Al Wajh, at the crossroads of Europe, Asia, the Middle East and Africa.

Oasis of relief

Company executives are optimistic about the future and are confident that the first wave of tourists will arrive in the Red Sea at the end of 2022.

“We are preparing to welcome the world’s most discerning travelers to the Red Sea Project by the end of this year, when our first hotels open. We have made significant progress to ensure we stay on track,” Anton Bawab, chief operating officer at TRSDC, told Arab News.

Anton Bawab, Head of Operations, TRSDC

Bawab said the company had identified hotel brands and partners and announced nine of them last October.

These include major global brands such as Jumeirah, Six Senses, EDITION, St Regis, Fairmont, Raffles, SLS, Grand Hyatt and InterContinental.

“These offerings will be among 16 hotels we have planned for the first phase of development by 2023. Once completed, we will host 50 resorts offering up to 8,000 hotel rooms and over 1,000 residential properties across 22 islands and six inland sites. . The destination will also feature an international airport, luxury marinas, golf courses, and entertainment and leisure facilities,” Bawab explained.

Bawab hoped that by 2030 the number of visitors to the Red Sea would reach one million.

“By 2030, annual visitor numbers will be capped at one million to ensure we provide an exclusive experience while mitigating environmental impacts and protecting local heritage, nature and culture for future generations.

“Access will lead visitors, and visitors will lead access. To this end, we are working hand in hand with regional airlines to ensure that our international airport is accessible with frequent flights at convenient times,” he noted.

According to TRSDC estimates, by 2030 the TRSP will contribute SR22 billion ($5.9 billion) per year to the local gross domestic product, while construction and 10 years of steady-state operation will generate revenue cumulative of SR464 billion by 2044.

Cultivate local talent

TRSDC’s work does not stop there. The company has also created a talent team to prepare young Saudi nationals to work on the job creation project in the market.

One of the key people behind this team is Zehar Filemban, Senior Director of Talent Development at TRSDC.

“Our commitment to inject 70,000 jobs into the local market while engaging with the public, private and start-up sectors, will reinvigorate a thriving economy. Our mission is to redefine the relationship between luxury and sustainability while inviting the world to discover previously unknown local treasures. This will highlight the country’s credentials as an ambitious nation in the global tourism scene,” Filemban said.

Zehar Filemban, Senior Director of Talent Development

To achieve these strategic imperatives, the company strives to produce economic, environmental and social co-benefits for the entire tourism value chain.

“The global nature of the tourism industry means that we inspire growth by supporting economic sectors such as renewable energy, clean transport, low-impact building and construction, sustainable agriculture and aquaculture and wildlife management,” Filemban said.

He emphasized that TRSDC is committed to becoming an employer of choice by recruiting, developing and retaining exceptional talent, promoting Saudiization and supporting diversity and inclusion.

“In this pursuit, we will continue to facilitate knowledge transfer within local, regional and international industry; enhance professional development opportunities and nurture young Saudi talent,” Filemban said.

Preparing for the future

Filemban added that the company creates tomorrow’s changemakers through robust learning and development courses such as the annual Elite Graduate program, preparation programs in local cities, community workshops and training opportunities. and advanced mentoring.

“We do this in close partnership with industry leaders such as the National eLearning Center, Ecole hôtelière de Lausanne, Human Resources Development Fund, Saudi Academy of Civil Aviation, Saudi Academy entertainment, Tabuk University and Prince Mugrin University.”

Filemban also supervised different departments to harness the abilities of young Saudi nationals and prepare them to take on new responsibilities in the future.

“Over 600 students are currently enrolled in educational programs that support the delivery of high quality education and enhance the learning experience to meet the needs of all employees and students. Programs that vary between professional training and scholarships, in a wide range of fields, including hospitality management, airport services and technical services,” he added.

Filemban insisted that people are the company’s greatest assets and are at the center of its organizational development, supported by its education and learning systems.
On May 19, TRSDC took another key step towards nurturing young Saudi talent by signing the second agreement with the Human Resource Development Fund to deliver high-quality training programs. HRDF Managing Director Turki Aljawini visited the site to sign the new agreement and familiarize himself with the project site.

This partnership will create a substantial pipeline to support and equip 1,000 young Saudis with the knowledge and expertise to start a successful career at TRSDC in various fields such as hospitality, tourism security and information technology.

eager to learn

The students also shared their business experience and closely followed the progress of the work.

Lojain Labban, a student at Prince Mugrin University on a TRSDC scholarship program, heard about the program through a Twitter personality who advertised the host scholarship, and this sparked her interest.

Lojain Labban, scholarship student

“I honestly had no idea what I was getting into, I didn’t know much about the major, but it seemed like a fantastic opportunity with one of the biggest companies in the Kingdom,” Labban said. .

She expressed her admiration for the project and was even more impressed by the officials’ determination to attract tourists to the Red Sea.

“I love that they are developing parts of Saudi Arabia that will soon become one of the best places for tourism; they are creating a tourist hotspot here. You don’t have to look far to see luxury vacation spots. It helps the whole and the Saudi citizens themselves to really explore and appreciate the beauty of the Kingdom,” Labban said.

Abdulrahman Hamid Alshithiwani, a high school student from Umluj, was also among the young Saudis who saw work progress in the Red Sea.

“First of all, I am proud of this finest achievement because they have set themselves a very ambitious goal, and it is in my region that I was born and raised. And to know that I am part of a giga-project that will capture the world’s attention by 2030,” said Alshithiwani.

He believes that these projects will provide a huge number of job opportunities in many fields such as hospitality, renewable energy, aviation, environment and much more.

“This project will take us to another level that will allow us to be competitive and excel in these markets,” concluded Alshithiwani.

Can cutting excise duties on petrol and diesel save India from stagflation? Sun, 22 May 2022 06:42:37 +0000

Throughout the past year, the central government and the Reserve Bank of India (RBI) maintained that inflation was transitory. But with the Russian-Ukrainian war showing no signs of waning, the Center finally bit the inflation bullet.

On Saturday, Finance Minister Nirmala Sitharaman announced a series of measures that should provide a safety net for India’s poor, under pressure from continued rising prices.

Chief among them was a reduction in the central excise duty on petrol and diesel. The Center announced that excise duty on petrol would be reduced by Rs 8 per litre, while excise duty on diesel would be reduced by Rs 6 per litre. With this, petrol will be cheaper by Rs 9.5, while diesel will be cheaper by Rs 7.

The government’s announcement comes days after retail inflation in India in April hit an eight-year high of 7.79%. Food prices soared as the longer-than-expected Russian-Ukrainian war disrupted global supply chains.

To combat rising inflation, the RBI announced a contrarian rate hike in early May.

Rising inflation, high unemployment and depreciating currencies have created a vicious cycle that could very well dismantle the fragile recovery that economies have been witnessing in a post-COVID world.

Concerns about stagflation are not lost on the world’s major economies.

Stagflation is a state of the economy defined by high inflation, low growth and high unemployment. And India seems to be on the cusp of this incident.

Several experts in India fear that the RBI’s call to switch to a high interest rate regime will impact growth. Shortly after April’s inflation figures were released, India’s finance secretary, TV Somanathan, said “the rate of economic growth is likely to slow down if the central bank raises interest rates,” anticipating days difficult for the economy. His concern is similar to what preoccupies governments around the world.

China, the world’s second largest economy, is also struggling. Observers point to an 11.1% year-on-year contraction in its retail sales in April, coupled with a 2.9% contraction in industrial production, were clear indicators that the dragon economy was experiencing the case. school of stagflation.

Worrying Times Ahead

Earlier this month, the US Federal Reserve announced its biggest interest rate hike in more than two decades to control rising prices. He raised the interest rate by half a percentage point, to a range of 0.75% to 1%. Inflation in the United States is at its highest level in 40 years and steeper increases are expected in the future.

April inflation in Germany was 7.40%, its highest in 41 years, and March inflation in the UK was 7%, its highest in 30 years. Italian inflation in April was at 6.2%, its highest level in 31 years.

In its April outlook, the International Monetary Fund (IMF) said: “War-induced commodity price hikes and widening price pressures have led to inflation projections of 5. 7% for 2022 in advanced economies and 8.7% in emerging and developing economies — 1.8 and 2.8 percentage points higher than forecast last January.”

fear of stagflation

India’s industrial production (IPI) growth remained subdued at 1.9% in March, compared to an increase of 24.2% a year ago, mainly due to the weak base effect. PII growth was 1.5% in January and February amid the third wave of Covid. It was only 1% in November and December of last year. With the RBI expected to raise interest rates by around 50 to 100 basis points over the next few quarters, demand is expected to fall, forcing companies to cut production further.

Sabyasachi Kar, RBI chair professor at the Economic Growth Institute, played down fear of high interest rates on growth last week. “There will be a dampening effect on growth. However, as long as it is limited to reversing the measures taken to deal with the pandemic, the slowdown will be mainly due to fiscal consolidation and its effect on growth. It may not be a very big effect.”

Unlike the West, which is not used to dealing with high rates of inflation, India has brought this phenomenon under control over the past two decades. With 80 crores of its population getting free food grains under the central government sponsored scheme, much of India’s population is sheltered from high food prices.

Likewise, unlike China, India appears to have experienced the worst of the Covid lockdowns which negatively impacted India’s growth.

India had recorded a growth of 8.5% in the second quarter of the last financial year, but it slowed down to 5.4% in October-December 2021. According to the Ministry of Statistics and Program Implementation, the India’s GDP growth for FY22 is expected to be 8.9% this year.

“We are not in a situation of stagflation at the moment. Growth may be lower than anything previously expected, but it is still likely to be closer to the odd 7 percent. Inflation is high for multiple reasons. There would be some control on that front, but to assume it would quickly revert to the RBI-mandated 4% would be unlikely,” said Devendra Pant, chief economist at India Ratings and Research.

The red flag

Although things don’t look so bleak at the moment, India’s growth had already slowed before the pandemic. The RBI’s low interest rate regime has allowed the economy to approach the pre-pandemic level of private consumption.

But the fiscal expansion coupled with external factors has heated India’s economy, fueling fears of consumer destruction in the country. A recent survey by Local Circles on the issue of inflation highlighted that expensive commodities have had an impact on the household budget of Indians. The government, until last month, was only focused on growth, despite the high inflation rates that have been recorded in recent months. But fears of a political backlash also occupied the minds of the Center which has earned substantial revenue by maintaining high excise duties on petroleum products in the past.

Retail inflation in India is at its highest level in eight years. Retail sales inflation in April was 7.79%, down from 6.97% in March. The rise in prices was observed in all major commodity groups. Inflation for cereals and products reached its highest level in 21 months, that of vegetables in 17 months and that of spices in 17 months. Consumer food price inflation jumped to 8.38%, its highest level in 17 months.

The secondary impact of rising fuel prices has also started to trickle down to other goods and services. Inflation for miscellaneous goods and services jumped to 8.03%, its highest level in 115 months. The category has experienced 23 consecutive months above 6% inflation. Inflation in health services has remained above 6% for the past 16 months. Education inflation hit a 23-month high of 4.12% in April.

To control food inflation, the government banned the export of wheat from the country. Indonesia’s decision to lift the ban on palm oil exports is also likely to help the government control commodity prices.

While the Centre’s decision to reduce excise duties on gasoline will certainly reduce inflation over the next few quarters, it would be interesting to see how the fall in government revenue will affect its ability to invest in the economy. country in the current fiscal year.

If growth slows due to the Centre’s reduction in capital spending, its decision to control inflation may not yield the desired results.

Low Pressure Casting Machine Market Statistical Forecast, Trade Analysis 2022 – WELTOP MACHINERY, Wanfeng, Sinto, OTTO JUNKER, OSAKA GIKEN, Nanjing Boqiao Machinery, LPM Group, Lian an Machinery Technology, Kurtz Ersa, Jiangsu Tianhong Machinery, Italpresse Gauss, ISUZU MFG , Fill Fri, 20 May 2022 11:09:24 +0000

New Jersey, USA, – Accuracy Reports published new research on Global low pressure casting machine covering the micro level of analysis by competitors and key business segments (2022-2029). Global Low Pressure Casting Machine explores in-depth study on various segments like opportunity, size, development, innovation, sales and global growth of key players. The research is carried out on primary and secondary statistical sources and consists of qualitative and quantitative details.

Some of the Major Key Players profiled in the study are WELTOP MACHINERY, Wanfeng, Sinto, OTTO JUNKER, OSAKA GIKEN, Nanjing Boqiao Machinery, LPM Group, Lian an Machinery Technology, Kurtz Ersa, Jiangsu Tianhong Machinery, Italpresse Gauss, ISUZU MFG, Fill

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Various factors are responsible for the growth trajectory of the market, which are studied extensively in the report. In addition, the report lists down the restraints that threaten the global Low Pressure Casting Machine market. This report is a consolidation of primary and secondary research, which provides market size, share, dynamics and forecasts for various segments and sub-segments considering macro and micro environmental factors. It also assesses the bargaining power of suppliers and buyers, the threat of new entrants and product substitutes, and the degree of competition prevailing in the market.

Global Low Pressure Casting Machine Market Segmentation:

Low Pressure Casting Machine Segmentation by Type:

Low Pressure Casting Machine Segmentation by Application:

Automotive industry, textile machinery, aerospace industry

Key aspects of the market are illuminated in the report:

Summary: It covers summary of most vital studies, global Low Pressure Casting Machines market increase rate, humble circumstances, market trends, drivers, and issues along with macro pointers.

Analysis of the study: Covers major companies, vital market segments, the scope of products offered in the global Low Pressure Casting Machines Market, years measured, and study points.

Company profile: Each well-defined company in this segment is selected based on products, value, SWOT analysis, capacity, and other important characteristics.

Manufacturing by region: This global Low Pressure Casting Machines report offers data on import and export, sales, production, and key companies in all regional markets studied.

Market Segmentation: By Geographical Analysis

The Middle East and Africa (GCC countries and Egypt)
North America (United States, Mexico and Canada)
South America (Brazil, etc)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)

The cost analysis of the Global Low Pressure Casting Machines Market has been performed while considering manufacturing expenses, labor cost, and raw materials along with their market concentration rate, suppliers and the price trend. Other factors such as supply chain, downstream buyers, and sourcing strategy have been assessed to provide a comprehensive and in-depth view of the market. Buyers of the report will also be exposed to market positioning study with factors like target customer, brand strategy and pricing strategy taken into consideration.

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Key questions answered by the report include:

  • Who are the leading market players in the Low Pressure Casting Machine Market?
  • Which are the major regions for dissimilar crafts expected to witness astounding growth in Low Pressure Casting Machines Market?
  • What are the regional growth trends and major revenue-generating regions for the Low Pressure Casting Machine market?
  • What will be the market size and growth rate by the end of the forecast period?
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Global Low Pressure Casting Machines Market Research Report 2022-2029

Chapter 1 Low Pressure Casting Machines Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 – Global Low Pressure Casting Machines Market Forecast

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Last credibility check: random manual audit Tue, 17 May 2022 16:00:00 +0000

Was there fraud in the presidential and vice-presidential election? At least 1,800 vote counting machines (VCMs) broke down on D-Day, affecting 1.44 million voters. Comelec’s count was exceptionally fast. One hour after the close of the poll, 8:02 p.m., its transparency server recorded 20.05 million votes, or 37.96% of the votes cast (80.38% participation, or 52.81 million out of 65.7 million). registered voters).

Immediately, the votes of the two leading presidential candidates stabilized at a ratio of 68:32 and continued until the end of the count. Possible in a landslide. But also at 8:02 p.m. a flat curve emerged all the way in the close contest between the third and fourth contenders. Same with the top two VP candidates. Highly unlikely, mathematicians cite the law of large numbers.

Given the varying bailiwicks and voter patterns by region, candidate curves are expected to fluctuate first and then flatten out in the end. Foolish to claim that pre-election polls showed such results. Elections validate polls, not the other way around.

Yet this is not evidence of fraud. At best, these are just hints.

But put aside partisan passions. Forget who won or lost. Hear what IT and election experts are saying. Voters will see that May 9 was a flawed automated election – again. As in 2010, 2013, 2016 and 2019, the provisions of the Automated Electoral Systems Act (AES) were not respected.

This law provides an unbroken chain of safeguards and processes. “But there were too many gaps,” says Nelson Celis, PhD, of AES Watch. Among these were:

(1) Digital Signatures – On March 23, Celis and National Press Club President Paul Gutierrez filed suit with the Supreme Court. “Order Comelec to assign digital signatures (access codes) to the three electoral inspectors per constituency.” This was after Comelec said only those in Metro Manila, Cebu City and Davao City would be assigned access codes from the Department of Information and Communications Technology’s list. In the rest of Luzon, Visayas and Mindanao, only presidents were to receive access codes, not the other two. For authentication, three digital signatures must be entered to start each of the 106,000 VCMs and transmit election results (ER). With only one signatory, any fraud can occur within the compound. The SC issued no mandamus.

(2) Monitoring Ballot Printing and SD (Secure Digital) Card Formatting – Citing pandemic restrictions, Comelec banned monitoring by party officials and election observers until 70 % of ballot papers have already been printed. Pray that the ballots will not be tampered with. A Filipino IT worker showed up at Comelec on March 22 when he was refused entry to witness the formatting of the SD card in the VCM warehouse. No action taken, Celis said.

(3) Documented results – Article 11 of the AES law requires Comelec to publish six conclusions 90 days before E-day or February 9. These are: field test and mock election; audit of AES software accuracy, functionality and security controls; review of VCM source code, forwarding router, consolidation/soliciting system; certification that the source codes are kept in escrow at the Bangko Sentral; certification that the source codes examined are those used by the equipment; and a continuity plan to avoid election failure during voting, counting or consolidation. Comelec decided not to release them until May 6, three days before E-Day, saying some findings had only been received the day before. He issued the resolution on May 11, two days after E-Day; links to results cannot be opened or viewed. No Filipino computer expert could examine it.

(4) Core, Backup and Transparency Server Source Code Review – A reputable international body must certify source codes, in this case Pro V&V of America, 90 days prior to eDay. Comelec is to release the details for review by Filipino experts as it did in 2010 with then-certifier SysTest Labs. Only then can Comelec issue a trusted version or executable file to run the VCMs and servers. Comelec released a trusted version in January and revised it in February. Source code reviews continued through April. “Reviews say there were third and fourth revisions,” Celis remarks.

(5) Checking Emergencies against Transparency Server – Enclosure ER count must agree 100% with Transparency Server as all came from the same 106,000 VCM. But due to shortcomings in the above four processes, there might be variations. Watchdog Parish Pastoral Council for Responsible Voting reported a 1.6% difference between its tally and the Comelec server. This represents 1,696 constituency VCMs or 1,356,800 votes. Could there be more, asks former DICT secretary Eliseo Rio.

(6) Random Manual Audit (RMA) – Ballots in 759 constituencies, one per district or 607,200 votes, must be manually checked against ERs. These must be chosen publicly by tambiolo after the ballot. Constituency inspectors must then begin audits, observed by party representatives, watchdogs and voters. Since 2013, the selection has taken place behind closed doors. This Comelec 2022 did it through an automated random selection program in a laptop. Celis and Rio doubt that the ARSP source code has been revised. The RMA takes place at a location in Manila. Comelec gave the field offices two to five days to send the ballot boxes. Who will transport the boxes? Are they properly sealed and padlocked? The supervisor of the RMA, watchdog of the National Citizen Movement for Free Elections, does not know the logistics firm; nor does it contain the padlock keys. “Teacher-listeners are in a bubble; they are incommunicado,” says Namfrel chairman Gus Lagman, also a former Comelec commissioner.

All of this undermines the credibility of the 2022 election.

But there is a remedy. Publicly re-select the 759 constituencies. To shorten the time, prepare a tambiolo for each region. Open the audit to the public.

Buy-Sell Q&A: Where the Automotive M&A Market is Heading Mon, 16 May 2022 13:13:58 +0000

Q: Are there any risks that dealers need to be aware of that could impact their profitability and valuations?

A: The short-term threat we see is the possibility of a recession. Some economists are predicting that we will likely have a recession in 2023, which would reduce demand for vehicles and potentially hurt the incredibly high vehicle profits dealerships enjoy today. As earnings fall, valuations also fall.

In the Haig Q4 2021 report, we highlighted some mid- to long-term threats that dealers will need to consider:

Tesla and other new entrants: Tesla has now become the number one luxury brand in the United States, and its next product launch, the Cybertruck, is aiming at the hearts of domestic brands. Other new entrants, such as Rivian Automotive and Lucid Motors, are also entering the market, as well as new brands launched by traditional OEMs, such as Polestar. These new entrants are likely to experience mixed results in the market, but there is a good chance that competing dealerships across the country will lose customers and profits as a result. Perhaps a greater threat to dealerships is that new entrants may push traditional OEMs to impose the agency model on dealerships (see below).

The agency model: Traditional OEMs have found that millions of customers are willing to go to a website, order a vehicle and wait for it to be delivered. And these OEMs are also seeing that they no longer need to produce millions of vehicles for dealer stock lots, guess which vehicles customers will actually want, and then advertise and provide incentives in order to encourage customers to buy the vehicles. Their profits per vehicle are much higher when they only produce what customers want to buy. And finally, they see that retailers are making huge profits. This new set of facts is causing a number of OEMs to reconsider their relationships with their dealers and consumers. Ford’s plan to split into two divisions, the Model e division which will only produce electric vehicles and the Blue division which will only produce internal combustion engine (ICE) vehicles is an example of a potential agency model in game. Customers looking to purchase an electric vehicle will need to order from Ford’s Model e website.

It does not appear that customers will be able to purchase Model e vehicles directly from dealerships. This is a profound change as the OEM will now set, instead of “suggest”, retail prices and the OEM will be the point of contact with customers. The customer can choose which dealer will deliver the vehicle, but the price will be determined by Ford, who will also decide how much to pay the dealer. The buyer will become Ford’s customer, rather than the dealer’s customer. This agency model, where the dealer becomes an agent and not a retailer, is common in other parts of the world. We understand that dealers in these regions make much less profit than dealers in the United States. And Ford isn’t the only one to think so. OEMs have envied Tesla’s market valuation that relies in part on this direct-selling model.

Electric vehicles: Some dealerships are concerned that electric vehicles require far fewer parts and maintenance than ICE vehicles, which will hurt their service departments.

Consolidation: Although still a very fragmented industry, automotive retail consolidation accelerated in 2020 and 2021. Groups like Lithia Motors, Group 1 and Asbury Automotive Group bought dozens of stores to expand their nationwide network of dealerships, along with digital retail tools that will allow them to sell and serve customers who prefer online shopping. These car groups and other dealerships are increasingly convinced that large scale will matter more in the future than in the past. They plan to offer consumers a greater selection of vehicles and more ways to shop than smaller dealerships can offer. If successful, they will gain market share and delight their OEM partners and shareholders. Their gains would come at the expense of smaller dealers who cannot match these capabilities. Haig Partners offers potential solutions to resellers for each of these issues. But due to space constraints, we cannot explain them in detail here. However, you can read more about these remedies on pages 14 and 15 of the Haig Q4 2021 report. These risks are real. However, dealers are very resilient and we expect them to find ways to mitigate these risks. We are still optimistic about the franchise system.

Haig Partners offers potential solutions to resellers for each of these issues. But due to space constraints, we cannot explain them in detail here. However, you can read more about these remedies on pages 14 and 15 of the Haig Q4 2021 report.

These risks are real. However, dealers are very resilient and we expect them to find ways to mitigate these risks. We are still optimistic about the franchise system.

XAU/USD sees no decisive bet at the open on the formation of a triangle Sun, 08 May 2022 21:54:33 +0000
  • The price of gold could swing below $1,900 as investors focus on US inflation.
  • The rise in the US NFP boosted the odds of a giant rate hike in June.
  • US inflation is seen as lower at 8.1% vs. 8.5% previously.

The price of gold (XAU/USD) is expected to open on Monday and will likely perform subdued on runaway catalysts favoring a rate hike by the Federal Reserve (Fed) in June. Inflation will persist longer due to rising fossil fuel prices and high commodity costs due to the multiplier effects of helicopter money and the Russian-Ukrainian war. Today, US non-farm payrolls (NFP) optimism bolstered the odds of a massive rate hike by the Fed in June.

The US central bank raised its interest rate by 50 basis points (bps) in May to tame decades-long inflation. Now, strong job creation in the US economy at 428,000, well above the consensus of 391,000, bolstered another 50 basis point rate hike in June. The jobless rate was unchanged at 3.6% and, according to the report, it was led by gains in recreation, hospitality, manufacturing, transportation and warehousing.

It seems possible that a tight labor market will push up the labor price index and that higher household incomes will lead to much higher inflation in the US economy and eventually impact oil prices. gold.

This week, US inflation will remain in focus, which is expected to land at 8.1% versus a previous print of 8.5% on an annual basis. A weaker inflation impression may reduce the chances of a giant rate hike, but general inflation is still higher, necessitating another mega rate hike.

Gold technical analysis

The precious metal forms a symmetrical triangle chart pattern on an hourly scale, which signals indecision in the sentiments of market participants. The 20-period exponential moving average (EMA) at $1,882.16 overlaps prices, signaling consolidation ahead. Meanwhile, the Relative Strength Index (RSI) (14) is hovering in a range of 40.00-60.00, which advocates directionless movement.

Gold hourly chart

In Ballot States, BJP Deploys Winning Strategy – Communal Riots Sat, 07 May 2022 02:30:09 +0000

New Delhi: If anyone had any doubts about whether communal violence can be the most potent tool to secure an electoral majority, the clashes between Hindus and Muslims in contending states over the past two months may have it. to be determined.

Over the past two decades, extremist saffron groups have used low-level communal riots to polarize large swathes of Hindus against minorities to secure electoral victories in various parts of India. Compared to what was seen in the aftermath of the 2002 anti-Muslim riots in Gujarat, or even the 2013 Muzaffarnagar riots which left scores dead and families ruined, the initial noise around these low intensity riots often fades. The media and civil society tend to weigh communal clashes in terms of the number of deaths and serious injuries.

What is often buried as a result of these low-intensity communal clashes are crucial aspects of displacing minority communities in an environment laden with majority aggression. The 2013 Muzaffarnagar riots in western Uttar Pradesh, which immediately bolstered the electoral prospects of the Bharatiya Janata Party (BJP) in the region, led to the displacement of at least 60,000 Muslims in western the PU. Their uprooting was such that the riots practically caused a demographic transformation in the region. Muslims were forced to ghettoize – further – into already enclosed dwellings while large numbers of Hindus, regardless of caste group, claimed village lands that were not theirs at the time. origin.

File photo of police officers in riot-hit Muzaffarnagar in 2013. Photo: PTI/File

These riots mostly become the first seeds sown by majority forces who want to harvest hatred between communities.

Even as some political sections of the minority community defend their rights in the face of such aggression, Hindutva organizations in most of the riot-affected towns and even in neighboring areas are waging a concerted campaign to further alienate Muslims. of the mainstream.

Over the past decade, these fringe Hindutva organizations have received support from elected MPs, MPs and other BJP leaders. Some BJP leaders were seen stoking communal passions in the aftermath of the riots instead of creating situations to control rage. A malleable media, meanwhile, supported the campaign only to undermine what is known as “secular common sense”.

Most would agree that such impunity is driven by BJP leaders and other Hindutva activists directly to the highest levels of the saffron party. After all, Prime Minister Narendra Modi and Union Home Minister Amit Shah – who have both run the BJP’s affairs in recent years – have not been shy about showing their dislike of Muslims in the countryside. elections and political initiatives.

Such an aggressive campaign only helps the BJP leaders protect the main provocateurs from the riots – in most cases they are militants of extremist groups like Bajrang Dal, Sri Ram Sene and others. A concerted Hindutva campaign is clearly aimed at achieving consensus among Hindus, who in different circumstances may not have bothered to think on communal grounds.

The process of consolidating Hindus through low-level communal riots and an ensuing hate campaign appears to be the only usable tool for the Modi-led BJP – which also promises development for all – to secure electoral victories at present.

A clear model

A look at the communal riots over the past two months clearly indicates a trend.

First, in all these riots, Hindutva agents were the primary provocateurs.

The incitement could have been anything – aggressive rallies in front of mosques, a sectarian meme, a social media post or a skirmish between individuals who were given a common color, making almost all riots appear as one. organized attempt to sow hatred among the communities.

Secondly, all the riots took place during festivities which attracted maximum attention from Hindus. Ram Navami, Hanuman Jayanti, Eid – all these festivals became a rallying point for Hindutva aggressors to unleash minor or major attacks on Muslims.

Third, most of the states that have witnessed these low-level riots are those where legislative elections are scheduled for later this year or next year. Gujarat, linked to the polls, saw communal riots in three cities. The Jahangirpuri riots happened ahead of Delhi’s municipal elections this year. Following a particularly intensive communal campaign by the BJP, northeast Delhi saw its worst communal riots immediately after the Aam Aadmi party won an overall majority in the last assembly elections.

Congress-led Rajasthan, which has been rocked by riots in Alwar and Karauli, and more recently Chief Minister Ashok Gehlot’s own constituency of Jodhpur, will also head to the polls in 2023.

Karnataka’s Hubballi, who is heading to the polls in 2023, witnessed communal riots last month during a Hindtuva WhatsApp chat.

Similarly, Madhya Pradesh, which will have assembly elections next year, has seen multiple communal clashes at Hindutva rallies.

UP Chief Minister Adityanath, meanwhile, appeared to be making decisive decisions. His tweets (here here and here) indicated a zero tolerance policy for all forms of rioting. UP had seen a number of low-level riots in the run-up to Assembly elections earlier this year, but Adityanath’s message after his second victory appears to be directed at those who bought his “law and order” – seen by opposition parties as a whistle to brand other parties as supporting disbelievers among Muslims.

Fourth, the riots occurred in places where opposition forces have significant electoral strength. Take for example Himmatnagar, Anand and Khambat in Gujarat, where Hindu-Muslim clashes occurred. All of these constituencies are constituencies where the Congress lost the last Assembly elections to the BJP with marginal votes.

Similarly, most of the riots in Madhya Pradesh took place in the Nimaad region, where the Congress performed surprisingly well in the last parliamentary elections. The Khargone riots became the tipping point for the start of a larger Hindutva campaign in the state.

The questionable idea, as the diagram shows, is to boil the common pot in our minds until the election.

A political strategy

The BJP’s selective outrage at the Ashok Gehlot government also shows a carefully planned political strategy. Most BJP leaders blamed the Gehlot government for failing to contain the communal clashes and accused it of having “appeased” the Muslims at the expense of the security of the Hindus. In fact, they aggressively pushed that line on TV talk shows and elsewhere.

It resembles the days when the BJP blamed the government of Mulayam Singh Yadav in Uttar Pradesh during the Muzaffarnagar riots in 2013, despite ample evidence that Hindutva forces had carefully engineered the anti-Muslim violence. The saffron party used the riots to mount a broader campaign against the Samajwadi party’s alleged ‘pro-Muslim’ policies and failure on the law and order front – a campaign the BJP has strongly backed. supported even in the recently concluded assembly elections in 2022.

In BJP-ruled states like Karnataka, Madhya Pradesh and Gujarat, Saffron party leaders have refused to utter a single word against top ministers while unilaterally blaming Muslims for inciting the riots.

Most BJP leaders in Gujarat have maintained the argument that the state has never seen a single communal riot since 2002 and that only the BJP could guarantee such a peaceful state. That such a peace was achieved at the cost of total silence of Muslims in the state was not an important issue for them – in fact, some of them are proud of the fact that Muslims have effectively “shown their place in Gujarat.

Riots in Ahmedabad, March 1, 2002. Credit: Reuters/Arko Datta/Files

Riots in Ahmedabad, March 1, 2002. Photo: Reuters/Arko Datta/Files

However, it seems that after narrowly escaping defeat in the last parliamentary election, the BJP has once again adopted its tried and true political formula of riding a “wave of hate” to secure an election victory. One only wonders how those BJP leaders and saffron party supporters who boasted of being part of a riot-free state would justify three successive riots over the past month.

Many expected the prime minister to break his silence on successive incidents of communal violence over the past month. However, to harbor such an expectation would be to negate the community ecosystem he helped create and now protects in a deeply organized way.

Recently, the Union Home Ministry informed parliament that there were 3,399 cases of communal or religious riots in the country between 2016 and 2020. Overall, there were more than 2.76 lakh cases of riots during this period – an alarming number. All were what we now call low-level violence.

Like the “smart” governance advocated by Modi, it seems the BJP he leads has also adopted a smarter way of riding communal horses to secure election victories.

In split vote, LA County to form new entity to tackle homelessness – Daily News Wed, 04 May 2022 01:32:51 +0000

Los Angeles County took the next step Tuesday, May 3, by developing a new entity that will be fully responsible for overseeing all homeless-related businesses in the region. County leaders also agreed to allocate funds for a ‘simplified set of strategies’ aimed at improving the regional rehousing system.

A 3-2 vote Tuesday afternoon by the Los Angeles County Board of Supervisors paves the way for the creation of a central entity to oversee and reduce homelessness in the county, adopting the commissioners’ recommendations of the Blue Ribbon Commission on the Homeless.

The commission was tasked with taking a close look at the Los Angeles Homeless Services Authority before developing recommendations “to reform the systemic dysfunction within the Los Angeles homeless services system as a whole,” the commission said Tuesday. supervisor Kathryn Barger. “And let me say, it wasn’t just about LAHSA. These were all county departments; everyone who comes into contact with homeless services.

The 2020 homeless count conducted before the COVID-19 pandemic found that more than 66,000 people were homeless in Los Angeles County, including more than 48,000 homeless.

The proposed entity was hailed by Barger, Supervisor Janice Hahn, and Supervisor Hilda Solis as a decision that would change the lives of millions. It’s also a solution, according to Barger, that allows county leaders to “give homeless people a roof over their heads, connected to support services, and off our streets for good.”

Supervisors Holly Mitchell and Sheila Kuehl cast dissenting votes in the 3-2 decision, with Mitchell saying there was “no golden ticket” in any of the guidelines.

Specifically, the seven recommendations included in the commission’s 98-page report relate to collective action, data sharing, and consolidation of the Los Angeles Homeless Services Authority Commission, the Continuum of Care Board, and the Coordinated Entry System Policy Council. in a single organ.

“There is an urgent need for us to change what we are doing or not doing to help the most vulnerable people living on our streets,” Barger said, describing the report and the rise in homelessness-related deaths as a call to action. the action. “We have known for some time that we need to make big changes.”

Barger added that there is no doubt in his mind that there is a need for a new county entity specifically tasked with addressing homelessness.

“However, I really want to be clear,” Barger said, “it’s not about creating a new cumbersome bureaucracy. It’s about creating an agile entity that will report directly to this board. It’s about create a county department that will support flexible solutions that help homeless people by meeting them where they are and helping them heal.

Solis agreed, later noting that the framework established by the Blue Ribbon Commission enables the county to build a transparent, inclusive and accountable homeless governance system.

“It’s a good roadmap in my opinion,” Solis said, “to continue investing in our cities.”

Kuehl, however, said the answer to homelessness lies in finding housing — not additional layers of bureaucracy.

“It’s more like what my grandmother used to call resetting the lounge chairs on Titanic and thinking that might save it from sinking,” she said.

Acknowledging the flaws in the system as well as “the enormous number of people who have been relocated”, Kuehl added that the current system is making a dent in the crisis and is exponentially more capable of relocating people and preventing homelessness than it was five years ago.

Mitchell wondered aloud how the county would cover the cost of creating a new entity with such varied responsibilities. Mitchell said she believes “doubling down governance” will not solve the region’s housing and homelessness crises.

Even before the six-month process to create the commission with $1 million of taxpayers’ money, the county had numerous studies and more than 500 interviews with stakeholders, “who agreed that increasing governance wasn’t the issue here,” Mitchell said.

“It’s so much easier said than done how we streamline and bring all of these departments together to make this happen like magic,” Mitchell said. “I don’t see in this process, realistically anytime soon, how this single entity is going to succeed.”

Kuehl later acknowledged that she didn’t believe Tuesday’s action would bring her peers significantly closer to achieving the county’s goal of ending homelessness.

“I just feel like when you’re faced with a bleeding wound, you don’t say let’s rebuild our hospital board and then restructure the way we dispatch the ambulance,” Kuehl said. “And if you bleed while we try some of these things, we’re sorry.”

Kuehl described many of the Blue Ribbon Commission’s recommendations as “miles away from achieving the very concrete goals we need to achieve, and may actually weaken the county’s response to the underlying causes of the roaming”.

Despite his and Mitchell’s opposition to the creation of a new entity, the five supervisors united in a unanimous vote to approve a motion crafted by Hahn that allocates funds for new strategies to be applied in the relocation system of the county.

Hahn’s measure also seeks to develop policies and tools, such as data agreements, to enable homeless management information system access between LAHSA, surrounding cities and the county.

“We’ve been doing this job for a long time,” Hahn said. “I have been frustrated by the persistence of the problem of homelessness and the human suffering that accompanies it. But there is no excuse to settle for the status quo.

Instead, Hahn argued the county should keep adjusting its strategies until it finds the most effective way to get people the help they need.

“I think these reforms will add some accountability and some coordination and I still believe that reform and accountability are two key elements to any progress we’re trying to make,” Hahn said, pointing out that LAHSA has never had the power to solve the biggest challenges. in the homelessness crisis.

The new county entity, according to Hahn, “is empowered to deal with the crisis, has the resources to do so, and is ultimately accountable for the results.”

Barger noted that the people who make up the entity will lay the groundwork for change.