Hospitality firm Oyo Hotels and Homes has appointed Martin HP Söderström, the chairman of DIG Investment, as a non-executive director at its European arm, Oyo Vacation Homes.
“As a mark of his trust and commitment towards the company, Martin will also buy shares worth an undisclosed amount in the parent company,” it said on Monday.
Oyo launched its European business in May 2019, focusing on vacation rentals. Vacation homes are a large and critical part of its global business and the firm will continue to expand it and invest in it, Oyo said.
In recent months, 3,400 homeowners from across Europe have joined the platform, adding more than 5,000 units to its portfolio of 140,000 homes.
As a board member, Söderström will work closely with Oyo’s management team to drive growth and offer guidance on potential merger and acquisition (M&A) opportunities. He will also help build strategic partnerships with other EU-based companies and lay out its brand positioning strategy as a thought leader in the vacation rental space, Oyo said.
“For Oyo, its customers and homeowners in the EU region, especially in the Nordics, hold immense strategic importance. Given Martin’s deep understanding of the region and strong business acumen, I am elated to welcome him as an investor and a fellow board member at Oyo Europe,” Oyo founder and group chief executive officer Ritesh Agarwal said.
Oyo’s vacation homes business is leading the road to recovery and the preference of small hotels and vacation homes over large five-star properties is leading a structural change in the hospitality industry, he said.
“We are positive that his deep experience in M&As and working with high-growth companies will add a lot of value to our growth journey in Europe, both organic and inorganic, and support us in our long-term goal of an initial public offering,” he said.
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Diplomat author Mercy Kuo regularly engages subject-matter experts, policy practitioners and strategic thinkers across the globe for their diverse insights into U.S. Asia policy. This conversation with Dr. Alexander Vuving – professor at the College of Security Studies at the Daniel K. Inouye Asia Pacific Center for Security Studies and editor of “Hindsight, Insight and Foresight: Thinking about Security in the Indo-Pacific “(APCSS 2020) – is the 254th in “The Trans-Pacific View Insight Series.”
Explain the key outcomes of the EU-China investment deal.
On the penultimate day of 2020, to fulfill a pledge they made in 2019, the top leaders of China and the European Union struck the deal, which is officially called the “Comprehensive Agreement on Investment” (CAI). It was seven years in the making with 35 rounds of negotiations, and will replace the 25 bilateral investment treaties that individual EU members signed with China before 2009. These 25 pacts secured some market access and reduced some legal uncertainty for European investors in China, but they largely accommodated China’s restrictive and highly discriminatory investment regime. Now the CAI makes a step further to broaden the access and tighten the legal framework for European investors in the Chinese market, but it falls far short of achieving a “genuine level playing field” for European businesses and workers and ensuring reciprocity in market access, a major objective set out by the European Parliament in its 2018 resolution. The CAI goes beyond market access and investment protection to include provisions on environment and labor rights protection, but with regard to forced labor and labor rights, what it has secured is just China’s promises.
In a nutshell, the CAI makes the playing field less unlevel but, at the same time, it affirms an asymmetric investment environment that strongly favors China. Seen in a larger picture, the small gains achieved by the CAI are not worth the opportunity loss it causes. By striking the deal now and not waiting a few more years, EU leaders failed to take advantage of favorable dynamics that would significantly strengthen the EU position vis-à-vis China. The EU’s size as the world’s largest market and its high level of technological development could be leveraged to obtain more reciprocity with China. The Biden transition team has indicated that the new US administration will end unilateralism and seek a united front with the EU, Japan, and other allies in its trade fight with China. These opportunities got lost with the agreement on December 30, 2020.
The impact of the CAI on the EU China strategy is large and negative. It robs the EU of a huge leverage in dealing with China. The mindset it embodies locks the EU in an asymmetric game, the end outcome of which is “China defects and the EU cooperates.” The fate of the CAI will resemble those of the Sino-British pact on Hong Kong’s “one country, two systems” and the WTO admission of China. All these three pacts share the same strategic structure. Because China’s objective in these games is geopolitical gain while that of its counterpart is China’s cooperation, the games’ outcomes conform to China’s objective. I call this situation the “peace-lover’s dilemma” because its strategic structure ensures the dominance of the more aggressive player.
Identify the deal’s winners and losers.
In purely economic terms, the primary winners are big European firms in various manufacturing and services sectors such as the car, chemical, telecom, and healthcare industries, banking, and transportation. Major German and French companies that already have an entrenched position in China appear to be the largest beneficiaries.
At the geopolitical level, the biggest winner is China. Although the CAI still needs to be signed by the EU members and ratified by the European Parliament, a process that can hardly be concluded before 2022, the 2020 pledge has rescued China from its retreat in the trade war with the United States. Some EU leaders may think that they have gained an advantage in dealing with the United States, but this elusive advantage is more than offset by the entrenchment of the EU’s weaker position vis-à-vis China.
The obvious losers of the deal include those who advocate for human rights and labor rights in China as well as those who advocate for repairing and strengthening the U.S.-EU transatlantic relationship. At the geopolitical level, the United States is the biggest loser.
Assess Germany’s leadership in delivering the deal and implications for Brussels’ leveraging ratification of the deal in EU member states.
Although the European Parliament made high-level transparency of the negotiations one of the preconditions for its consent, many member states “do not exactly know what is inside the deal,” as a Polish expert observed. Germany has leveraged its EU rotating presidency in 2020 and its influence in the EU bureaucracy ̶ the European Commission’s president and director-general for trade are both Germans ̶ to cut a deal that is most beneficial to some big German businesses. With the support of French President Emmanuel Macron, German Chancellor Angela Merkel was able to bulldoze the deal against some resistance within the EU. With this deal, other EU members gained a small free lunch, although they lost the opportunity to have a bigger dinner. But as they all are very hungry now, they would opt for the free lunch rather than labor to get the dinner.
How might the EU-China deal affect the incoming U.S. administration’s plans to bolster transatlantic relations and security alliances in managing China’s expanding influence across Europe?
The CAI reflects an effort by Chancellor Merkel and some other European leaders to assert the EU as a major pole in a multipolar world. A key message of the deal is “the EU is very independent from the United States.” But this assertion is applied to a wrong place. The EU and the U.S. share some common strategic and political goals: to achieve reciprocity and a level economic playing field with China, to halt China’s abuse of human rights, to discourage China’s assertiveness abroad. By cutting a separate deal with China, the EU has repeated the mistake of the Trump administration when it went solo in its trade war against China. The CAI will damage both the EU’s comparative advantage vis-à-vis China and its transatlantic alliance with the U.S.
Billionaire businessman, Femi Otedola and Founder of MRS Group, Alhaji Sayyu Dantata are some of the first set of Nigerian business leaders to pre-order the yet to be released book on Management and Leadership, ‘Strategic Turnaround’
The book, which chronicles the transformation of a strategic government agency is authored by Dr. Dakuku Peterside, the immediate past Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA).
Mr. Femi Otedola who preordered 1,000 copies at cover price for distribution to selected institutions across the country expressed his belief In the reformation of public sector institutions as an enabler for private sector performance.
In his words, “I believe in the reforms of public sector institutions for greater efficiency and effectiveness. If our public sector institutions are functioning well like their counterparts in other parts of the globe, it will lead to improvement in quality of services rendered and will strengthen the private sector to create jobs. Job creation will address poverty and accelerate development.
“I believe that what happened in NIMASA in the past four years is a success story of institutional reform which can be replicated in other agencies of government which is why I am preordering this book so that more persons can read about it and be inspired to also reform whatever government institutions they find themselves.”
On his part, Alhaji Sayyu Dantata, founding Chairman of MRS Group who has preordered 500 copies of the book wants as many aspiring leaders as possible to read the story of the transformation of NIMASA through committed and visionary leadership.
According to him, “I want as many persons as possible to read about the success story of how one of the most important agencies of government in Nigeria was transformed under a period of four years. If NIMASA can be effectively reformed then all other agencies can be reformed. Alll we need is visionary and focused leadership which Dr Peterside gave while at NIMASA”.
He said that the preordered copies would be distributed to selected public universities and libraries accross Nigeria.
Six other notable business leaders have also preordered several hundred copies of the book, which according to the publishers, Safari books, will be released at a public presentation on 28 January 2021.
Strategic Turnaround is a book written in simple narrative and expository style that tells the story of the major reform initiatives adopted to transform NIMASA from a non performing agency to a global brand that is alive to its regulatory and promotional mandate. It is a detailed account of Management and leadership principles that were applied to turnaround NIMASA in such a short period.
A petition calling for the Government to negotiate a visa-free cultural work permit with the European Union has attracted more than 250,000 signatures.
The UK’s new post-Brexit travel rules, which came into force at the beginning of the year, do not guarantee free travel in the EU for artists and other creatives.
The petition calls for the Government to reach an agreement with the EU for artists to be able to perform across its 27 member states without the need for a work permit.
(Matt Crossick/PA)
Industry bodies, including trade group UK Music, have previously said that artists who have to secure visas for every country they visit may face extra costs.
The petition’s creator Tim Brennan, a freelancer, said: “The UK has a huge music/event touring industry which has suffered immensely due to Covid.
“After the end of the transition period, we face further hardship when trying to tour the EU on a professional basis with potentially each country asking for its own visa that would be valid only for one trip.
“As a freelancer I and many like me travel through the EU countless times a year on different tours and events. This will become impossible due to cost and time if we do not have visa-free travel.”
Parliament will consider the issue for a debate as it has reached the threshold of more than 100,000 signatures.
The petition reached the 250,000 signature threshold on Monday afternoon.
Louis Tomlinson (Ian West/PA)
Musicians including One Direction’s Louis Tomlinson, former Boyzone star Ronan Keating and singer-songwriter Laura Marling have previously encouraged their fans to support the campaign.
Last week Cabinet Office minister Lord True said talks with Brussels over visa-free travel for artists were “unlikely” to restart in the near future.
A spokeswoman for the Department for Digital, Culture, Media and Sport said: “Short-term visitors to the EU can continue to join business meetings, receive training, and attend sporting and cultural events, amongst other permitted activities, without requiring a visa.
“Some member states may allow other types of travel visa-free, so people should check the rules of the country they are travelling to.
“The UK pushed for a more ambitious agreement with the EU on the temporary movement of business travellers, which would have covered musicians and others, but our proposals were rejected by the EU.
“We recognise that there could be some additional processes for those working in creative industries, but we have ensured that the visa application processes for longer-term business travel will be transparent, to provide certainty and clarity.”
Portugal’s government will foster “political and legislative steps” to combat hate speech, incitement to violence and the processes of radicalisation on social networks during its presidency of the Council of the European Union, the minister for foreign affairs said on Monday (11 January).
“There is a very important element linking the issue of democracy with the issue of digital transition which is precisely the need to combat hate speech, incitement to violence, the processes of radicalisation which take place through social networks,” said the minister, Augusto Santos Silva, who is also a minister of state, number two to the prime minister. “There are several political and legislative steps that can be taken and we will stimulate these steps.”
Santos Silva, who was speaking at an online conference of presidents of COSAC (Conference of Specialised Bodies on European Union Parliamentary Affairs) organised from Portugal’s parliament, mentioned in particular “the beginning of the discussion of the Digital Services Act, which has a very important digital media regulation component.
“I am talking about the Digital Assembly that will take place in Lisbon and that we hope it will approve the Lisbon declaration on digital democracy with a purpose,” he said answer to representatives of the parliaments of the EU’s 27 member states, who attended the meeting by videoconference. “I speak of the line that is being well taken in the Justice and Home Affairs Council, namely against hate speech, and I speak …of the need for the EU to advance its digital strategy in the way that it knows how to …and which sets it so well apart from other blocs or countries, notably China.”
The minister stressed that the EU’s way of “going digital” in the economy, but also in public administration and public services, is “always mindful of the scrupulous respect for citizens’ rights [and] the need for digital transformation to take place within the framework of liberal democracies [such as in the EU] and “not to serve as an instrument for abuses of power by public authorities against citizens’ rights.”
Portugal began its fourth presidency of the Council of the EU on 1 January, which is to run through the first half of 2021 to 30 June, with the motto ‘Time to act: for a fair, green and digital recovery’. It took over from Germany and will hand over to Slovenia.
HRWF/ Bitter Winter (11.01.2021) – While the bill Consolidating Respect for the Principles of the Republic (former bill on separatism) is currently being examined by a special committee of the French National Assembly, three renowned experts have just published a white paper entitled Laïcité, How to Preserve it.
To do this, the authors undertook a meticulous research in the history of secularism, examined the parliamentary debates of 1905, case law and doctrine, while contextualizing everything in order to fully understand what this law had first of all changed after almost a centenary of the Napoleonic Concordat, and how “case law on the subject has struggled to evolve while the French religious landscape has changed considerably since the promulgation of the law of 1905.”
For the authors, “The government, by wishing to strongly encourage associations of law 1901 (mainly Muslim, but not only) to join the regime of religious associations of law 1905, crosses an additional level in the state control of religions (…) Unfortunately , it’s a safe bet that this harmonization of constraints, whatever the mode of exercise freely chosen, will not be enough to cause a real change of paradigm and to encourage associations under the 1901 law to join the regime of the 1905 law.” They join in this the fears of representatives of religions heard on January 4 by the special committee responsible for examining the bill.
The authors, the jurist Frédéric Jérôme Pansier, author of more than 50 reference works in the field of law, the sociologist of religions Massimo Introvigne, author of more than 70 books and Willy Fautre, President of the NGO Human Rights Without Frontiers International, advocate in this forty-page document an approach that preserves the spirit of the 1905 law, while modernizing it to adapt it to the current religious reality in France.
The document ends with a final conclusion: “in order for the reform to achieve its goals, it is necessary to ensure that the spirit of freedom of the law of 1905 is preserved, and that the great majority of religions which do not represent a terrorist threat, do not provoke hatred or violence, can not only have access to the advantages of the status of religious association, but also that this access is facilitated, encouraged and attractive.”
Players in Sydney’s west say teams in their area cater mainly to high grade players
The number of community cricket players has risen significantly, up 12.3 per cent this season
The NSW Government says it is building training and playing facilities across Sydney
The 36-year-old, who migrated to Australia from India four years ago, says while cricket has always been a big part of his life, it’s harder than ever to find space to play in Sydney’s west.
This summer, Mr Gowda says space is so tight, he has been forced to travel over an hour from his home in Kellyville in Sydney’s north west to fields in the city’s south for a weekend match.
The opening batsman says the long commute to Carss Park Flats was his only option given there are no closer grounds available.
“I did look for cricket fields from Kellyville to Marsden Park, which is a good 15 kilometres away, but neither had any grounds,” he said.
“And I looked around Blacktown, I hardly found anything over there either.”
Mr Gowda’s teammate Mannatjot Singh also drives an hour each way, from his home in Baulkham Hills to Carss Park, to play as part of the South Hurstville Carss Park cricket team.
Mannatjot Singh says he looks forward to his Saturday cricket match despite the commute. (ABC News: Jack Fisher)
The fast bowler says the few clubs located closer to his home in Western Sydney only cater for high-grade cricketers — not social players like himself — forcing him to make the lengthy journey.
“It can be quite stressful to drive such a long way just to play one game of cricket,” says the 20-year-old IT student, who arrived in Sydney from New Delhi a year ago.
“It is quite difficult to find a place to play. A lot of people have this problem.”
While the pair lament the lack of space for community cricket in Sydney’s west, the number of participants playing community cricket is on the rise.
According to the latest NSW Cricket statistics, participation rose 12.3 per cent to 493,121 over the 2019-2020 season, up from 439,306 the previous season.
The number of young people registered surged 34 per cent last season to 16,001.
Suburbs ‘purely built for housing’
The men cheer on members of the South Hurstville Carss Park cricket team. (ABC News: Jack Fisher)
Mr Gowda isn’t surprised at cricket’s increasing popularity, pointing to the passion for the game among Western Sydney’s growing Indian community.
“Cricket is a big deal in the Indian community. You can call it a religion,” he said.
Mr Gowda hopes new residential developments in the region will include designated cricket grounds so more people aren’t forced to scramble for places to play.
He would also like to see recently-completed developments in areas such as Schofields, the Ponds and Riverstone, make more space for cricket.
“What I see around my house are streets and streets of concrete replacing the horse farms, but I hardly see a place where people can come with their kids to play cricket,” he said.
“When I look at the inner-west suburbs, they have a pretty big, well-developed space for quite a lot of sports, they even have cricket grounds.
“But the suburbs [near my place in Kellyville] are purely built for housing, that’s it, nothing more.”
The cricket team train at Carss Park Flats. (ABC News: Jack Fisher)
The NSW Government said it was helping to build training and playing facilities for more than 35,000 club and community cricketers across Sydney.
It is contributing $30 million to the Cricket NSW Cricket Centre of Excellence at Wilson Park near Silverwater, due to be opened in 2022.
It has recently supported multi-sports fields in the Hills Shire, the first stage of the Fergusons Land Premier Cricket Facility in Camden.
Planning and design for three full-size cricket ovals as part of the Nepean River Trail West masterplan is underway, a spokesperson for the Department of Planning, Industry and Environment said in a statement.
For Mannatjot Singh, even though it’s a long drive to get on the field each Saturday, it’s still worth the effort.
“It’s the day I look forward to the most.”
Mr Singh and Mr Gowda say clubs closer to their homes cater for high-grade players.(ABC News: Jack Fisher)
MSNBC host Joe Scarborough claimed Monday that President Donald Trump’s supporters had “put down their Bibles” and embraced a new religion rooted in conspiracy theories.
Scarborough lashed out at the media outlets and social media platforms that had amplified Trump’s voice, arguing that they shared in the responsibility for allowing “these conspiracy theories to spread, to spread like weeds.” (RELATED: ‘Why Do You Want To Spread Violence?’: Joe Scarborough Lashes Out At Rand Paul In Angry Rant)
WATCH:
<p>“He has been been begging supporters to engage in violence against the media. And here we see them engaging in violence against the media,” Scarborough said as he showed a clip of rioters attacking members of the media at the Capitol. “Like Donald Trump has been asking them to do for five years. Engaging in violence against his political opponents.”</p> <p>Scarborough went on to argue that the people in charge of media companies and social media platforms should have seen it coming and done something to prevent Trump’s rise or curtail his influence.</p> <p>“This is what every tech company, this is what Facebook should have known was going to happen. This is on them. This is what Twitter should have known was going to happen. This is on them. This is on every media company that has promoted his hate speech. Every media company, new media company that has pushed every tweet out to 60 million people,” <a href="https://dailycaller.com/2020/10/02/joe-scarborough-rips-kayleigh-mcenany-press-briefing-hope-hicks-coronavirus/" target="_blank" rel="noopener noreferrer">Scarborough</a> continued, acknowledging his own role as a part of the media. “It’s on all of us. It’s on all of us. But it’s especially on Facebook, Twitter, now Parler and all of those companies that allowed these conspiracy theories to spread, to spread like weeds.”</p> <p>“Like a vicious cancer,” <a href="https://dailycaller.com/2020/11/25/mika-brzezinski-wants-investigations-post-mortem-trump-presidency-the-view/" target="_blank" rel="noopener noreferrer">Mika Brzezinski</a> added, and Scarborough agreed.</p> <p>Scarborough then argued that the major problem was the number of people who were getting all of their news from social media platforms and cable news channels that were “spreading the lies.”</p> <p>“That is their reality. They’ve put down their Bibles, right? They don’t read their Bibles anymore. They now read Facebook. They don’t worship Jesus Christ anymore. You can tell by their actions. Jesus said judge a tree by its fruits,” Scarborough said. “They worship Donald Trump. And their Bible is now what they read in the conspiracy theories on Facebook and on Twitter.”</p> <p>Scarborough concluded by once again turning his ire toward social media platforms, saying that people had “begged” them to put a muzzle on Trump and they had failed to do so.</p> <p>“This is what happened. This is what happened, Mark Zuckerberg. This is what happened, Sheryl Sandberg. I hope it was worth it. I hope your billions were worth it,” he said. “Jack, I hope wherever you’re, like, crossing your legs and doing yoga and taking an ice bath or a mud bath, I hope it was worth it.”</p>
President Hoyer reaffirms EIB commitment to Sahel and climate-vulnerable regions in Africa as part of Team Europe
EIB to strengthen financial and technical support for sustainable agriculture, clean energy, water, infrastructure and microfinance to create jobs and resilience
Biodiversity investment in Africa to benefit from pioneering EIB Sustainable Awareness Bonds
The European Investment Bank today announced that it aims to provide new financial and technical support to back sustainable agriculture, clean energy, water, infrastructure and private sector financing in 11 Sahel countries most vulnerable to a changing climate by 2025.
The EIB financing and technical support will enhance the impact of the Great Green Wall initiative to improve biodiversity in the Sahel and better tackle climate and environmental challenges facing the region. Targeted high-impact investment will enable more inclusive economic growth and strengthen resilience in the region to foster peace and stability.
EIB President Werner Hoyer outlined the expected strengthened engagement to back high-impact investment essential to create jobs, improve economic opportunities and increase access to clean energy and water during the One Planet Summit for Biodiversity hosted by French President Emmanuel Macron in Paris earlier today.
“Communities across the Sahel are threatened by climate change, increasingly frequent droughts and floods, and unreliable and limited access to energy, water and food. The European Investment Bank, as part of Team Europe and member of the Sahel Alliance, recognises the need to scale up investment that tackles these challenges, delivers sustainable development and improves stability in the region. The EU Bank is pleased to join African and international partners in ensuring that the Great Green Wall biodiversity initiative improves lives and opportunities across the Sahel. Looking ahead, the EIB expects to back transformational public and private sector investment in 11 Sahel states most vulnerable to climate change as part of our commitment to accelerate high-impact investment across Africa. This will complement our broader strategic engagement across Africa and 58 year track record of backing transformational investment on the continent.“ said Werner Hoyer, European Investment Bank President.
President Hoyer addressed the One Planet Summit for Biodiversity alongside the Prince of Wales, President of the African Union Commission and heads of the French Development Agency, African Development Bank, UN Food and Agriculture Organisation and United Nations Convention to Combat Desertification.
Working with African partners to unlock high-impact investment across the Sahel
During his address to the One Planet Summit for Biodiversity President Hoyer highlighted the impact of recent EIB support for water investment in Mali and Niger, clean energy across West Africa and private sector support with local microfinance and banking partners.
The EIB is currently supporting projects to address land degradation and enhance access to finance by rural communities and small holders in Mali and Ethiopia, and to redress and prevent soil erosion in Nigeria, all initiatives that provide a model for successful biodiversity investment elsewhere in Africa.
EIB harnessing global capital markets to support biodiversity investment
Future EIB investment for sustainable agriculture and environmental projects across Africa will benefit from the EIB being the first international financial institution to issue bonds to support biodiversity investment.
This week the EIB, the world’s largest supranational bond issuer and pioneering of green bonds, will include biodiversity in the eligibility of the established EIB Sustainable Awareness Bonds.
Supporting the Great Green Wall initiative to improve lives and opportunities in the Sahel
The Great Green Wall initiative aims to restore Africa’s degraded landscapes and transform the lives of people living in the Sahel. The 11 countries selected as intervention zoned for the Great Green Wall are Burkina Faso, Chad, Djibouti, Eritrea, Ethiopia, Mali, Mauritania, Niger, Nigeria, Senegal and Sudan
The European Investment Bank is the world’s largest international public bank and owned directly by the 27 European Union member states.
The EIB Group has recently adopted its Climate Bank Roadmap to deliver on its ambitious agenda to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and to deliver more than 50% of EIB finance for climate action and environmental sustainability by 2025. As part of the Roadmap, all new EIB Group operations will also be aligned with the goals and principles of the Paris Agreement from the start of 2021.
