The UK’s financial markets regulator is seeking feedback on market structure and regulation to assess whether they reinforce short-termism.The Financial Conduct Authority (FCA) published a discussion paper on primary capital markets in the UK and how they can most effectively meet the needs of issuers and investors.One focus of the paper is potential barriers to the provision of capital for growth, especially for early-stage science and technology companies. The FCA said it “would be useful” to explore the extent to which current market structures and regulation reinforce a short-term focus in issuers and investors, thereby hindering the provision of “patient capital”.The FCA said that discussions with “pre-IPO” companies indicated a need for technical changes to be made to listing rules, but also “raised the question of whether a more fundamental reassessment might be valuable, focusing particularly on ways in which different forms of primary market structure and regulation might better support scale-up and patient capital, which are particularly crucial for early-stage science and technology companies”. It cited concerns that the UK’s primary equity markets were proving less effective at providing a means for companies to raise capital for further growth and development. The regulator said there have been significant changes in secondary capital markets, such as a shift towards algorithmic trading strategies and the separation of primary from secondary markets. These changes were seen by some as having eroded the effectiveness of the primary markets and having led to a focus on short-term trading rather than long-term investment considerations, the FCA said.Market regulation is seen by some as contributing to such a short-term focus, with “trends in market structure and market regulation […] seen by some to be mutually reinforcing”, it added.However, it also said that these views were not shared by all, and that “some stakeholders point to the Financial Reporting Council’s Stewardship Code and the establishment of the Investor Forum as recent improvements to the effectiveness of primary markets in supporting a more patient approach”.“Nonetheless, we are keen in this DP [Discussion Paper] to explore some of the themes that have emerged in this area,” it added.The FCA also asked for feedback as to whether alternative market structures could support “a more patient, long-term approach”, such as a transitional market to sit between fully private and fully public markets.The regulator asked long-term investors to indicate how they value different aspects of the current public equity market model, such as corporate transparency, investor stewardship, corporate governance requirements, or the ability to trade.The FCA also asked for views on whether there is a role for a UK primary debt multilateral trading facility, to encourage more overseas companies to raise debt finance in the UK.The FCA’s discussion paper can be found here.
Its location on the Tomas ConfesorHighway, a major highway traversing Panay Island, makes the airport accessiblefrom all parts of Iloilo and Panay by road, while its proximity to thecurrently defunct Panay Railways network could potentially link the airport tothe rest of Panay by rail. Designed to accommodate 1.2 millionpassengers a year over a decade ago, it is poised for expansion as it nowserves 2.4 million passengers annually. *services, facilities and things to do “It is one step closer to bringingcomfort, safety and convenience to one of the busiest airports in the country,”said Arroyo. Classified as an international airport, the Iloilo Airport is the first airport in both Western Visayas and the island of Panay to be built to international standards, and it is also considered to be the primary gateway into the region. Located in Cabatuan, Iloilo, it has a 13,700-square-meter main passenger terminal. It is divided into three levels: arrivals and baggage claim on the first floor, check-in on the second floor and departures on the third floor. IAN PAUL CORDERO/PN *comfort (gate seating, rest zone availability, etc.) *cleanliness Getting the DILG onboard was a crucialstep for the proposal to be forwarded to the National Economic and DevelopmentAuthority, explained Arroyo. Meanwhile, Singapore’s Changi Airporttopped the 2019 Sleeping In Airports’ 10 best airports (overall) as well as itslist of top 20 best airports in Asia. *customer service Travellersrank their experiences based on the following factors: Runway lights and an InstrumentLanding System were installed, making the airport capable of supportinglow-visibility and night landings under any weather condition. “Top airports have a lot in common:plenty of seating, rest areas, a good amount of food options, helpful staff andefficient check-in, and security procedures. Some airports go above-and-beyondwith perks like in-terminal movie theatres and gardens,” according to thesleepinginairports.net website. *“sleepability” The Iloilo Airport, located inCabatuan, Iloilo, has a 13,700-square-meter main passenger terminal. It isdivided into three levels: arrivals and baggage claim on the first floor,check-in on the second floor and departures on the third floor. During a visit to the airport in Maythis year, Arroyo announced that CAAP secured the support of the Department ofInterior and Local Government (DILG) to proceed with the expansion. *navigation and ease of transit The current airport complex consistsof a single runway, various administrative and maintenance buildings,waste-sorting and water-treatment facilities, a power-generating station, acargo terminal, and a main passenger terminal. ILOILO City – The Iloilo Airportranked 18th in the 2019 Sleeping In Airports’ “Best Airports in Asia” list, theCivil Aviation Authority of the Philippines (CAAP) announced. According to Arroyo, the departmentsof Transportation, Labor, and Justice already signed the CAAP Board Resolutiongranting Original Proponent Status (OPS) to the unsolicited proponent for theIloilo Airport expansion. Three jet bridges protrude from thepassenger terminal above a 48,000-square-meter apron, enabling the airport tohandle up to six aircraft simultaneously. Classified as an internationalairport, the Iloilo Airport is the first airport in both Western Visayas andthe island of Panay to be built to international standards, and it is alsoconsidered to be the primary gateway into the region. It opened to commercialtraffic on June 14, 2007 with then President Gloria Macapagal-Arroyoinaugurating it. CAAP, she said, may now proceed tosubject the proposal to a Swiss Challenge [third parties would be allowed tomake better offers to the unsolicited offer made by the original proponent;then the original proponent gets the right to counter-match any superior offersgiven by the third party]. The goal is to ensure that the government gets thebest offer. “We expect that more Philippineairports will be included (in the list) next year. The survey for the 2019 listwas done until September. We have airports that were built just recently,” saidCAAP spokesperson Eric Apolonio. The Iloilo Airport has one primary2,500-meter runway 45 meters wide. It can support wide-bodied aircraft such asthe Airbus A330, Airbus A340, Airbus A350 XWB, Boeing 777(with reduced payloadfor the -300 series or -200 series), Boeing 767, Boeing 757, Antonov An-124Ruslan, McDonnell Douglas MD-11and Boeing 787. *immigration / security Sleeping In Airports is a travellers’guide and resource website (sleepinginairports.net). It conducts an annual surveyasking travellers to rate airports worldwide based on their overall airportexperience. *food options Photo by IAN PAUL CORDERO/PN Only one other Philippine airport madeit to the list – the Mactan Cebu International Airport which placed 16th. “I would like to extend my sincerestcongratulations to CAAP for finally getting the green light to start theexpansion of the airport,” said Arroyo. Other airports in the Asia list wereSeoul Incheon Airport, Tokyo Narita Airport, Osaka Kansai Airport, TaipeiTaoyuan Airport, Hong Kong Airport, Kuala Lumpur Airport, New Delhi Airport,Jakarta Airport, Tokyo Haneda Airport, Mumbai Airport, Bangkok Suvarnabhumi Airport,Bangalore Airport, Ho Chi Minh City Tan Son Nhat Airport, Hyderabad Airport, DaNang Airport, Islamabad Airport, and Kunming Airport. (With a report from the Philippine News Agency/PN)
0Shares0000AFC Leopards head coach Rudolf Zapata. Photo/RAYMOND MAKHAYANAIROBI, Kenya, Jul 11 – AFC Leopards head coach Rodolfo Zapata says the club will be a force to reckon over the next two seasons considering the investment they have made with bringing in young players into the squad.Among the players who landed at the den in the June transfer window included the Thika United trio of Eugene Mukangula, Said Tsuma and Saad Musa while midfielder Edward Seda returned to the club after a stint at Mathare United with striker Alex Orotamal arriving from Rwanda. “We need to fight for the league title this year, but also, we are building a powerful team for the next two seasons. We need to be patient especially with the new players who need to adapt, but I know that if we keep this project then we will dominate football because AFC is a big team,” the tactician said.AFC Leopards fans celebrating. Photo/RAYMOND MAKHAYAAFC is placed fourth in the Kenyan Premier League standings and despite sitting a massive 14 points behind eternal rivals and leaders Gor Mahia, Zapata says he will not give up the chase for the league title.Ingwe were 1-0 winners over Sony Sugar over the weekend and the win was an encouragement for Zapata that his side can challenge for the crown.“I am very happy with the players because we performed very well and created many opportunities to score. Even the last game we lost 3-0, we still played very well and created more chances than the home team. We should continue in this way,” the tactician added.-Sofapaka warns Gor-Sofapaka bench led by head coach John Baraza (center). Photo/RAYMOND MAKAHAYAMeanwhile, Sofapaka head coach John Baraza has warned Gor Mahia they will not relinquish the fight for the league title easily, despite being nine points behind the leaders who have a three-game deficit.Sofapaka beat Mathare United 3-2 over the weekend to narrow the gap and Baraza who won the title with Batoto ba Mungu as a player in 2009 says they will push on with their focus left on winning their matches.“The league is still open. As much as Gor have those matches at hand, they will have to fight for the points on the pitch. This is football; anything can happen. We still have a lot of hopes and ours is just to keep winning our games and see what happens at the end,” Baraza said.Sofapaka have a five point deficit between them and third placed Bandari FC and Baraza is confident that at worse, if their league ambitions do not come to fruition, they will ensure the worst they finish is second.Sofapaka’s Pistone Mutamba in action against their Mathare United clash. Photo/RAYMOND MAKHAYAMeanwhile, Mathare United who earlier on in the season looked like title favorites, have fizzled away winning only one of their last 12 games, drawing eight and losing three.Despite the poor run, head coach Francis Kimanzi remains confident his charges can bounce back to winning ways though fighting for the league title now seems like a far-fetched dream as they lay 15 points behind the league leaders.“Of course you have to get worried when things do not go your way but I know our win is coming. We have to work on our mistakes especially minimizing the defensive errors and ensure we are better in scoring. That’s the only way we can rise back,” Kimanzi mentioned.The tactician was disappointed in the 3-2 defeat to Sofapaka noting that they gave away cheap goals through defensive errors and has called on his team to up their game as the league enters the business end.0Shares0000(Visited 1 times, 1 visits today)