“Tourism is a key economic activity in Europe. Short-term rental accommodation offers suitable solutions for tourists and new sources of income for people. At the same time, there are concerns about the impact on local communities. ”said Thierry Breton, European Commissioner for the Internal Market. Source: SkiftPhoto: Pixabay Two lobby groups for the sector – EU Travel Tech and the European Family Tourism Association – welcomed the move and expressed hope that data sharing would contribute to more comprehensive tourism statistics across Europe, provide public authorities with a better understanding of economic co-operation and support evidence-based policies. When the first series of data becomes available this year, it will be better understood where the market is. The data will include the number of nights booked and the number of guests. The European Commission, the EU’s executive arm, said the agreement would protect the privacy of both guests and hosts. Airbnb, Booking.com, Expedia Group and Tripadvisor have signed an agreement on data exchange with the European Union, reports Shift. The agreement means that reliable information on the short-term rental market will be published through the statistical office Eurostat. This is the first time that short-term rental competitors are coming together to share global market data. Airbnb and other platforms have waged a leading battle across Europe over the accelerated expansion of urban rents. Cities like Amsterdam and Barcelona have imposed restrictions, and many have expressed concern about the impact on house prices.
Norway’s sovereign wealth fund – the world’s largest owner of equities – made its second highest return in percentage terms ever last year, topped only by the bounce back that followed the global financial crisis in 2009.Releasing annual results for the Government Pension Fund Global (GPFG) this morning, its manager Norges Bank Investment Management (NBIM) presented a picture of a fund now more heavily dominated by the stock of tech giants Apple, Microsoft and Alphabet, and finally having reached its strategic allocation to equities.Yngve Slyngstad, NBIM chief executive officer, said in its latest annual report: “2019 brought a record-high krone return of NOK1.692tn (€164bn), and the percentage return was the second-highest in the fund’s history, topped only by the rebound from the financial crisis in 2009.”The return of 19.9% for the year follows the 2018 loss of 6.2%, but is still below the 25.6% return the fund achieved in 2009 after the 23.3% loss it suffered the year before. The market value of the fund, which was created to invest Norway’s oil revenues, increased to NOK10.1tn at the end of 2019 from NOK8.3tn a year before, mainly on its investment returns, but also because of an NOK18bn transfer of capital from the government and the effect of the krone depreciating against several major currencies during the year, which added NOK127bn, NBIM reported.The net contribution into the oil fund from the government comes after 2018’s inflow, which followed a two-year period when for the first time the government was making net annual withdrawals from the fund.Of the GPFG’s three main asset classes, equities returned 26% last year, unlisted real estate investments produced 6.8% and fixed income investments generated 7.6%.The fund beat its benchmark by 0.23 percentage points, the Oslo-headquartered manager reported, saying stock picking had been the biggest single contributor to this outperformance.The executive board said in the annual report that of the three main categories of investment strategies the fund used, fund allocation had contributed negatively to the relative return, while security selection and asset management both contributed positively.“The single largest contribution to the relative return in 2019 came from internal security selection in equity management,” the board said.In terms of the three asset classes, the board said real estate management had made a negative contribution to the relative return, while both equity and fixed income management had made positive contributions in 2019. Yngve Slyngstad, chief executive officer at NBIMNBIM’s allocation to equities surged during the year to 70.8% from 66.3% at the end of 2018, while bonds declined to 26.5% of the GPFG from 30.7%. Unlisted real estate dipped to account for 2.7% of the fund from 3% in 2018.This level of equities exposure brings the sovereign wealth fund up to the strategic allocation to equities in its benchmark index of 70%, which was set in 2017.The fund boosted its equity investments particularly in the last two months of 2018 when stock markets around the world were falling, NBIM revealed a year ago.The oil fund’s holdings of technology giants ballooned in 2019, the annual report showed, with the top two increasing their size lead over the fund’s other top 10 equity investments.Investments in Apple jumped to NOK125bn at the end of last year including both equities and bonds, up from NOK70bn a year before, while holdings in Microsoft equities and debt rose to NOK106.9bn from NOK67bn.These holdings were much larger than the fund’s third biggest corporate exposure of NOK78.4bn to Alphabet, whereas in 2018 the gap between the second and the third on the list had been much narrower at around NOK4bn.
Chelsea have appointed former Liverpool managing director Christian Purslow as their new head of global commercial activities. Press Association Purslow joined Liverpool in June 2009, succeeding Rick Parry, with the aim of bringing more revenue to the club although his role changed when then owners George Gillett and Tom Hicks decided to sell the club The businessman then helped the sale process to the group led by current Reds owner John W Henry before stepping down from his role in October the following year. He remained as a non-executive director and special adviser until February 2011. The 50-year-old will lead the Blues’ attempt to expand their brand around the world as they seek to become a growing force on and off the field. “The club believes Mr Purslow has the vision and the leadership qualities to help us achieve these plans,” said a short statement on Chelsea’s website.
This was not the first time that Buttler had been Mankaded, having been on the receiving end during the Edgbaston ODI between England and Sri Lanka in 2014 where Sri Lanka offspinner Sachithra Senanayake ran him out. Even for Ashwin, this was not the first time. In the 2012 tri-series in Australia, the offspinner had mankaded Sri Lanka’s Lahiru Thirimanne but the appeal was withdrawn by the-then captain Virender Sehwag. The actions of Ashwin in the Mankading of Buttler has drawn sharp criticisms from England players on social media and in several media outlets. Some former Australia players, including Rajasthan Royals mentor Shane Warne have criticised the actions of Ashwin. But, what does the Mankading law state? The old vs new law The old rule, in the wake of the Senanayake mankading was titled in this way. Law 42.15: Bowler attempting to run out non-striker before delivery The bowler is permitted, before entering his delivery stride, to attempt to run out the non-striker. Whether the attempt is successful or not, the ball shall not count as one of the over. If the bowler fails in an attempt to run out the non-striker, the umpire shall call and signal Dead ball as soon as possible.In April 2017, the Marylebone Cricket Club (MCC) tweaked the rules and cleverly changed the title of the law related to Mankading, which stated that it was the batsman’s fault in case he got mankaded. The new law 41.16 notes: “If the non-striker is out of his/her ground from the moment the ball comes into play to the instant when the bowler would normally have been expected to release the ball, the bowler is permitted to attempt to run him/her out.” Was Ashwin right? Technically, if one goes by the word of the law stated in the MCC playing conditions, Ashwin is NOT wrong. The criticism comes from the potentially grey area of ‘expected to release’ the ball. Many experts have pointed out that Ashwin should have warned Buttler. However, in the new laws, it is not necessary for the bowler to warn the batsman. In previous instances, the bowler had to warn the batsman that he was moving out of the crease. The problem with the criticism of Ashwin is that England and Australia players have used the Spirit of the Game argument when it comes to other issues like walking. The Ian Bell dismissal in Trent Bridge against India in 2011 was out but many said it was against the Spirit of the Game. The controversy was only avoided when MS Dhoni withdrew the appeal. The unfortunate thing about the Spirit of the Game argument is that it has been used according to the ideology of convenience by all nations. If it does not suit their narrative, then the rule is bad for the game. However, the rule exists and Ashwin stuck to the rules. Cricket must be an equal contest between bat and ball. When a batsman takes a few steps out of the crease so that he can take the run easily, it should technically be unfair to the bowler. Cricket is fast becoming a batsmen’s game and the bowlers are getting sidetracked. It is about time that one rule works in the favour of the bowlers. DISCLAIMER: The opinions expressed by the author in this article are personal. News Nation does not purport to reflect the opinions or views of the organisation or its members. This was the first mankading incident in IPL history.This was the second mankading incident in Twenty20 history.Kings XI Punjab won for the first time against Rajasthan Royals at Sawai Mansingh stadium. highlights For all the Latest Sports News News, Indian Premier League News, Download News Nation Android and iOS Mobile Apps. New Delhi: The controversial mankading of Jos Buttler by Ravichandran Ashwin in the IPL 2019 encounter between Rajasthan Royals and Kings XI Punjab at the Sawai Mansingh stadium has become a major talking point. The cricketing world is divided about Ashwin’s actions, with many supporting him while a fair majority are criticizing his actions. The incident itself was not pleasant television viewing. Buttler was batting brilliantly and on 69, he was guiding Rajasthan Royals to a win. However, in that split moment, Ashwin realized that Buttler was out of his crease and he broke the stumps to run him out in controversial fashion. Buttler, normally a calm cricketer, was livid. When the match ended with Kings XI Punjab emerging victors by 14 runs, there was no eye contact between Buttler and Ashwin. Paddy Upton, the head coach of Rajasthan Royals, exchanged words with Ashwin. In the post-match press conference, Ashwin reiterated that he had done nothing wrong. “It’s there within the rules of the game. I don’t understand where the spirit of the game comes, naturally if it’s there in the rules it’s there. I don’t understand the point of sporting or sportive in that point because it’s rules. What applies for one man does not apply for everyone else,” Ashwin said. Upton, though, was blunt in his criticism. “I think R Ashwin’s actions tonight speak for him and represent him. When I looked in the eyes of his teammates, I’m not sure it represented his teammates. We’ll leave it up to the IPL fans to decide if that’s the kind of thing they want to see, and we’ll leave it up to the cricket world to judge R Ashwin’s actions tonight,” Upton said with anger.