Tag Archives: government

The multi-million dollar master returns to South Australia | Instant News


South Australian Tourism Commission

In another coup for the state, South Australia has secured the rights to host the 2023 Australian Masters Games – attracting participants from around the world for an eight-day sports festival that is expected to inject more than $ 12 million into the state’s economy.

More than 70 venues across the state will host some 45 sports and 9,000 athletes, providing a boost to local businesses.

AMG is Australia’s largest multi-sport participating event. South Australia has hosted the event seven times since 1989. The State Government, through the South Australian Tourism Commission, is the main sponsor of AMG 2019.

“This event has previously yielded good results for South Australia, with the 2019 Olympics providing an economic gain of $ 11.9 million for our state, and bringing thousands of competitors to South Australia,” the Prime Minister said.

“This is yet another event that will put our state on the map globally, and showcase all that South Australia has to offer.

“This game will also provide a much needed boost to local businesses, inject millions of people into the economy and support our recovery from the global Corona virus pandemic.

“Nearly 70 percent of AMG 2019 attendees come from states and abroad, with competitors coming from all states and territories. We also have participants from 25 countries, and even though it is still a few years away, we hope to keep attracting visitors from abroad. “

AMG provides sports competitions and social interactions for people over the age of 30. AMG is open to anyone who meets the age requirements for the sport of their choice.

It does not impose qualification standards, with the aim of encouraging life-long participation in the sport. In addition to a busy sports schedule, the Olympic program includes a wide range of social events, providing a festival and lively atmosphere for Adelaide competitors and visitors.

“We know the participants come here to have fun competing, playing on team sports, or eyeing PB in their sport of choice, but they both like to get out and explore roadside bars, wineries, restaurants, and exciting outdoor activities. fun. “

The president of AMG event owner, Confederation of Australian Sport, Mr Rob Bradley said he was thrilled that Adelaide was hosting the 2023 Australian Masters Games.

“South Australia has hosted AMG more often than any other state and is arguably the spiritual home of Masters Sport in our country,” he said.

/ Public Release. Material in this public release comes from the original organization and may be point-in-time, edited for clarity, style and length. view more here.

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Cushman & Wakefield: The Impact of COVID-19 on Swiss Real Estate | Instant News


The COVID-19 case count was out of control so the Federal Government decided to take further action. The number of customers per square meter in shops has been reduced, there is a two-household rule for private meetings and restaurant visits, and now there are various restrictions for ski resorts. In addition, the Federal Government continues to advocate working from home.

Housing

Net yields for Swiss residential properties have remained stable during the COVID-19 pandemic. Vacancy rates in major cities such as Zurich and Geneva remain very low with stable average rental prices of CHF / sq m 330 in Zurich and CHF / sq m 370 in Geneva. Interest rates are expected to remain low until at least the end of 2021, which makes residential properties in sought after locations still a profitable investment for pension funds, other institutional investors, and wealthy private investors.

Office

The office markets in Zurich, Geneva and Basel remained stable during 2020. Prices fell slightly in the middle of 2020 but jumped again towards the end of the year. The vacancy rate in Geneva remained the same (5%), office space in Basel increased slightly from 1.8% to 2.2% and in Zurich the vacancy rate fell from 1.4% to 1.1%. The median rent per square meter is CHF 360 in Zurich, CHF 240 in Basel and CHF 470 in Geneva. In suburban locations and locations with weaker infrastructure, the impact of COVID-19 is visible. Economic prospects as well as the increasing demand for a modern work environment make this location less desirable. Potential tenants at peripheral locations are very price sensitive, which causes prices to drop.

Retail

The rental price for retail space on the Zurich highways increased to CHF / m2 440 from CHF / m2 400 at the start of the year. Retail properties in the cities of Basel, Lausanne, Berne and Geneva also saw a slight increase in rental prices. Non-food retail spaces that are located within walking distance of the highway and on the outskirts are experiencing a decrease in demand resulting in lower prices.

In short, the demand for real estate with stable cash flow in a good location remains high among Swiss investors. Net yields for residential, CBD offices and highway retail properties were almost unchanged. The results for offices and retail in secondary locations have increased markedly.

October 29

The number of new COVID-19 cases has increased almost exponentially over the past few weeks, and to date, the federal government in Switzerland has decided on some additional measures that will have a drastic impact on everyday life.

Meetings in public spaces and private events are now limited to 15 and 10 people, respectively, and masks have to be worn almost everywhere.

Sports and cultural activities are limited to some extent which makes them largely impossible. Nightclubs must be closed and there is a curfew from 23.00 to 6.00, universities should switch to distance learning, and working from home is strongly recommended.

The appetite for real estate investing remainshigher, also driven by Swiss pension funds and insurance companies whose cash surpluses increased during the first lockdown.

We’ve seen a lot of traction on transactions related to property types including:

  • residence;

  • mixed use; and

  • commercial / industrial including development.

Investors still look at the core office, but currently there are only smaller properties on the market. We expect most of the ongoing deals to close before the end of the year – now that being used to the pandemic situation most investors have experience on how to deal with it.

The demand for office space from occupants fluctuates, with some companies still securing large spaces for the foreseeable future, while others are now focusing on more flexibility.

August 19

The pandemic COVID-19 outbreak caused the most serious decline in economic activity in Switzerland in more than four decades. Although there are signs of easing in the business situation, there is still a measurable drop in demand.

Swiss economic development will continue to depend on the pandemic. In the updated scenario, the leading Swiss Institute of Economics predicts that output will shrink by 4.9% this year, based on the assumption that the possible increase in new infections in the winter months can be contained.

However, the Swiss economy weathered the crisis relatively well compared to other European countries, with the GDP growth rate for 2021 estimated at 4.1%. Residential real estate and certain core products are crystallizing as safe havens for investors, and the importance of new asset classes such as Data Center be elevated.

August 5

Switzerland has had very few new COVID-19 cases since mid-May, so by June most of the restrictions had been lifted. As the number of cases increased slightly in July, it is mandatory to wear masks on public transport and self-quarantine for ten days after entering Switzerland from high-risk areas. Business continues as usual.

The corporate invaders are bringing people back to their offices (with and without social distancing) and there is debate as to whether they will try to reduce their existing footprint. While we have several examples of companies placing excess space in the market, this appears to be related to the difficult economic situation and decreased business turnover compared to implementing alternative workplace strategies.

Office and retail activities are on the rise again as tenants with expired leases are looking for attractive opportunities. Even with slightly less than usual demand, due to low supply, the main German-speaking Swiss centers show a paradoxical increase in market rents in certain sub-markets (eg Zurich CBD). However, the disparity in office vacancy rates and market rental rates is expected to widen between city and suburban locations.

The funding situation of Swiss institutional investors has not changed, and they are still looking to invest in both core and core + real estate with a home bias. The big deal that started before COVID is now continuing, with the sale of the 53,000 square meter Glatt Center in Zurich and other significant deals having been announced recently.

23 April

Last Thursday, the Federal Council announced plans for a ‘way back’ to a ‘new normal’:

  • April 27: some shops can be reopened, such as: hairdresser, DIY / garden center, flower shop

  • May 11: all retail stores can be reopened, schools too

  • June 8: the university will reopen, as well as a museum and zoo

The borders are still more or less closed, people are still told to stay at home and work from home. There is no set date for reopening the restaurant, bar, coffee shop and sports facilities. This says about 75% of Swiss companies are still working normally.

The commercial real estate market began to react to the economic slowdown. Landlords with restaurants and shops in their portfolios face a lot of pressure to reduce rents or even waive rents. We see that the retail real estate sector and the hospitality and leisure industry are temporarily near ‘dead’. In the office market, we see transactions go further as if nothing has changed and others are delayed or even stopped. In the investment market we see that the transaction process has not started, some are postponed, some transactions are still closed.

April 16th

Since last week, lock entry Switzerland has extended to 26 April. Schools, universities, shops (grocery store, gas station still open) and restaurants remain closed.

April 9th

In Switzerland, the lockdown was announced on March 13. Schools, universities, shops (grocery store, gas station remain open) and restaurants are closed at least until April 19. People were told to stay at home. Offices, construction sites and factories are still functioning – although everyone is asked to work from home whenever possible.


The authorities have developed several packages to try to help those affected by the actions being taken by the Federal Council (Bundesrat). As:

  • Loan

  • short working time for all sectors

The commercial real estate market began to react to the economic slowdown. Landlords with restaurants and shops in their portfolios face pressure to reduce rents or even waive rents – at least until the end of the closure.

Although some landlords are already facing difficulties obtaining leases for commercial space, the real estate industry has not reacted so far.

There is no clear vision for the future, but the retail sector appears to be ‘dead’ for now, especially as all shops are closed now.

There is also uncertainty in the office market. Some transactions are running as normal while others have been postponed or even stopped completely.

In the investment market we see transaction processing not starting, some being delayed, some being closed. The pricing still looks quite high and unchanged.

Denial

Cushman & Wakefield plc publish this content on January 14, 2021 and take full responsibility for the information contained therein. Distributed by the Public, unedited and unaltered, at 14 January 2021 20:37:02 UTC

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Merkel warns Germany may need tight borders for another 10 weeks | Instant News


Photographer: Liesa Johannssen-Koppitz / Bloomberg

Chancellor Angela Merkel warned that Germany faces tough lockdown measures until the end of March if authorities fail to contain the fast-spreading variant of the coronavirus.

During a video call on Tuesday, the German leader said that emerging tensions in Britain could lead to a rapid increase in transmission rates in the country and prompt a 10-week extension of virus restrictions, according to someone on the call who did not ask. to be identified.

Germany has struggled to contain the spread of the disease despite weeks of tougher measures, including closing non-essential schools and shops and limiting contact between people. The news was first reported by picture newspaper. Chancellor Merkel declined to comment when contacted by Bloomberg.

The number of infections and deaths has nearly doubled since late November, increasing to nearly 2 million and nearly 42,000, respectively. The infection rate has risen in recent days and was at 165 cases per 100,000 people as of Tuesday, more than three times the rate the government has set it to be able to handle without broad contact restrictions.

Stubborn Plague

Germany has struggled to contain the spread of the coronavirus

Source: Robert Koch Institute


German officials are wary of a strain that can be more than 50% more contagious. Since first being detected in southeastern England in mid-December, British hospitals have been inundated with Covid-19 patients as infections spike despite vaccination rates being faster than elsewhere in Europe.

Its variants have spread to other countries, in particular Ireland, which now has one of the highest transmission rates in the world.

Read more: Surrounded UK Hospital Brings Warning to EU Lagging on Vaccines

Since German laboratories do not regularly check the structure of the virus, it is unclear how widespread the virus variants are in the country. To address this, Merkel’s government is working to provide funding and requires a laboratory to share data with the country’s RKI public health agency.

Authorities will meet on January 25 to discuss next steps in fighting the pandemic. Actions are currently set to run until at least the end of the month, but are widely expected to be extended.

The opposition Green party has called for restrictions beyond the current lockdown, including requiring people to work from home whenever possible and requiring seat reservations on commuter trains.

First Business Day 2021 In Germany's Financial Capital

Commuters waiting for trains at the Taunusanlage train station in Frankfurt.

Photographer: Alex Kraus / Bloomberg

EURO-AREA INSIGHT: Virus Faster, Economy Slower – 1Q GDP at -4%

Germany and its European Union partners began rolling out the vaccine in late December, but progress has been slow and officials say it will take months for the injections to have any real impact.

Misinformation undermined Germany’s campaign, including preventing workers in old age and nursing homes from getting injections, Bavarian state Prime Minister Markus Soeder said on Tuesday.

He said the government should consider mandating vaccination for people in close contact with susceptible individuals, adding that Germany already mandates vaccination for measles, which is much less dangerous than the coronavirus.

“This is shocking,” he told ZDF television. “It has something to do with the incredible fake news that is spreading on the web.”

– With the help of Chris Reiter, and Naomi Kresge

(Update with comments from the Bavarian state prime minister, proposals from the Green Party)

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Government lobbied to accelerate Covid vaccine launch ‘before it’s too late’ | Instant News


New Zealand|Political

Each New Zealand will be able to get a Covid-19 vaccination with 15 million doses now guaranteed with launches planned to start in the second half of next year.

The government has been urged to speed up the rollout of the Covid-19 vaccination, given the increased risk of the new variant destroying Britain and South Africa.

The National Party wants front-line workers, such as those working in managed isolation and quarantine (MIQ) facilities, to get the vaccine as soon as possible.

Party leader Judith Collins wants the Government to consider provisions for vaccines for emergency use for important border workers “before it’s too late”.

“New Zealand has fallen behind the rest of the world with its vaccine program and the Government needs to explain why,” said Collins.

The government has been approached for comment.

Yesterday, the Health Ministry revealed that there had been 31 new imported Covid-19 cases since Thursday – all in managed isolation.

He also revealed that so far 19 cases were linked to a new, fast-spreading strain that has spread in Britain.

“The number of cases reinforces the need for vigilance that is ongoing at the border, as Covid-19 continues to increase overseas,” the Health Ministry said.

But Collins said more than ongoing vigilance was needed to protect New Zealanders.

“It is imperative that we start vaccinating border workers and people working in managed isolation facilities as quickly as possible.”

He pointed out that the Australian Government recently launched a Covid-19 vaccine launch. Health workers, border personnel and elderly residents are at the front of the queue.

Collins wants the New Zealand Government to follow in Australia’s footsteps.

“The Kiwi is rightly asking why Australia plans to vaccinate four million people by the end of March while New Zealand won’t start vaccinating the general public until at least July.”

According to Prime Minister Jacinda Ardern, the Covid-19 vaccine will be freely available to everyone in New Zealand by the middle of this year.

But border staff and rescue workers are at the front of the queue and will get vaccines faster than anyone else.

He said the mass vaccination program would be New Zealand’s largest immunization launch in history.

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“We are moving as quickly as possible, but we also want to make sure the vaccine is safe for New Zealanders.

He said the government had reached agreements with a number of pharmaceutical companies.

The agreement guarantees access to 7.6 million doses of AstraZeneca, enough for 3.8 million people, and 10.72 million doses of Novavax, enough for 5.36 million people.

Both vaccines require two doses to be administered.

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50 fire engines, two bows awarded to Karachi by the federal government | Instant News


KARACHI: A total of 50 state-of-the-art firefighting tenders organized by the federal government have arrived at Karachi Port to upgrade the city’s fire fighting capabilities.

Sindh governor Imran Ismail, along with Federal Planning and Development Minister Asad Umar and Federal Minister for IT and Telecommunications Aminul Haq, attended a ceremony on Sunday at the port to accept fire tenders on behalf of the Karachi Metropolitan Corporation (KMC). Reports say the two bows, having the capacity to store 18,000 liters of water, are also part of the new fleet, which is being purchased by the federal government to enhance Karachi’s fire fighting capabilities.

The new fire tenders are capable of storing up to 7,000 liters of water each and are equipped with an electric water nozzle to carry out operations in multi-storey buildings. The new fire tender will assist in reducing material and human losses in the city due to frequent fire incidents. Currently, the city fire department has only 14 fire fighting units functioning out of 44, while 11 stations out of a total of 25 are functioning to respond to any unwanted situation in the city.

Speaking on the occasion, the governor of Sindh said as many as 50 state-of-the-art fire tenders and two bows were Prime Minister Imran Khan’s New Year’s gifts for Karachi. He said the procurement had enabled the federal government to fulfill its other commitments with the people. He said the federal government had spent some Rs1.4 billion on buying tenders and arcs.

Imran Ismail said it was unprecedented that such a large number of fire tenders had been purchased in one bid. He said each of the nine industrial estate representative associations in Karachi would get these two fire tenders under a public-private partnership arrangement. Saylani and Chippa, a local NGO, will also be provided with a fire engine. He said for the first three years, the federal government would look after the maintenance of these fire tenders through suppliers. He said, after that, the receiving agency would be responsible for maintaining and providing water to run the fire tender.

The governor said the federally owned Sindh Infrastructure Development Company Ltd had played an important role in procuring the fire tender. He also clarified that the fire tender procurement initiative for Karachi, was launched during the current PTI term, while the rival political party has done nothing in this regard.

Meanwhile, Federal IT Minister Aminul Haq said Sindh Governor Imran Ismail and former Karachi mayor Waseem Akhtar had jointly made efforts to procure this fire engine for Karachi. Federal Planning and Development Minister Asad Umar said the modern mass transit system will function on the Green Line section of the Bus Rapid Transit System in Karachi in July this year. He said buses for the Green Line Corridor will arrive in June this year. He said initially the Green Line service would be launched from Surjani City to Nuamaish Intersection. Asad Umar said a new railway line would also be built from Karachi Port to Pipri for the movement of goods to solve the problem of moving heavy vehicle traffic. on city streets. He said consulting services had been hired to revive the Karachi Loop Rail (KCR) and build a freight rail corridor in the city. He said the Water and Power Development Authority had started working on behalf of the federal government to carry out further work to complete the K-IV bulk water supply system for Karachi.

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