Ravello, stunning hilltop town is famous for its stunning views and beautiful gardens, and is a popular day trip for those staying in Sorrento or on the Amalfi Coast. During the summer months, however, people often stick around until the evening, when the concerts of the Ravello Festival begin. Most performances take place at the beautiful Villa Rufolo, often with those famous views as a backdrop. You can buy tickets online or at the box office in Piazza Duomo. With thanks and courtesy Ciao Citalia. Laura Weeden in Inspiration
Unique Pied-à-Terre or Investment Opportunity
Property for Sale in the 7th Arrondissement
Saint Germain des Près Penthouse Terrasse
Size: 38 m2 (with 50m2 terrace) 7th Arrondissement
Property Type: Apartment. Bedrooms: 1 Bathrooms: 1. Floor: 5th (6th US)
Reduced! Penthouse Apartment with Large Terrasse
A unique penthouse apartment with a large terrasse right in the heart of the chic 7th arrondissement, five minute walk from Musée Rodin and Le Bon Marché. On the 5th floor with a elevator of a well maintained building, the apartment offers a large open living space, open kitchen, dressing room, shower room and a spectacular 50m2 terrace. Bathed in sunlight with unobstructed views over parks (facing south) this property makes a luxurious pied a terre or a high income rental investment (estimated rental value 3900 euros per month) after a light decoration. Courtesy & with thanks Susie VingtParis
The Bolchoi Ballet comes to the Royal Opera House, Covent Garden, London for three 3 weeks from 25th July 2016
GIOVANNI SOLDINI AND THE MASERATI TRIMARAN. SIGHTS SET ON THE ROLEX MIDDLE SEA RACE, CO SPONSOR UnipolSai Assicurazioni.
The Italian yachtsman aboard the trimaran Maserati Multi70 for the 2016 season. With sights set on Rolex Middle Sea Race and RORC Transatlantic Race.
The 2016 season is getting underway on something of a high note for Giovanni Soldini and his partners with the move from their previous monohull to the new Maserati Multi70 trimaran. This faster, more modern craft will allow Soldini and his crew to tackle new records and compete in prestige competitions of the likes of the Rolex Middle Sea Race in October and the RORC Transatlantic Race in November.
Flanking Giovanni Soldini this new season are Maserati, returning as main sponsor for the fifth consecutive year, and UnipolSai Assicurazioni which will be playing a more prominent sponsorship role in the project than last season. Also renewing their support as official challenge suppliers are: Ermenegildo Zegna for clothing and Boero Bartolomeo S.p.A. which supplies hull paint and enamels.
After an extremely busy and satisfying three years that saw them clock up an impressive number of nautical miles with the monohull Maserati VOR70, Soldini and his team will henceforth be sailing aboard Maserati Multi70, a cutting-edge, very high performance trimaran capable of making extremely fast speeds. Stretching 21.2 metres in length and 16.8 in the beam with a 29-metre mast, Maserati Multi70 can rise up off the water on her rudders and foils, significantly reducing her wetted surface area to the benefit of performance. The trimaran was originally penned by the VPLP (Van Peteghem Lauriot-Prévost) studio and optimised by Team Gitana in collaboration with Guillaume Verdier.
“We are just starting to discover Maserati Multi70’s potential. The passage from Lorient gave us our first taste: it was a positive and very enlightening experience,” commented Giovanni Soldini.
“This craft’s innovative character is all down to her appendages. Team Gitana transformed the starboard side with an L-foil and got her flying but always in sheltered waters.
We are now trying to find out if and how it is possible to do the same in a moderate swell. Clearly that will involve a lot of research and development work that we’ve only just begun but what we’ve seen so far is really enthusing us already”.
Three challenges are scheduled for this season: a Monaco-Porto Cervo record attempt, the Rolex Middle Sea Race and RORC Transatlantic Race.
In September, Maserati Multi70 will be on stand-by in Monte Carlo for the perfect weather window for an attempt to set a new multi reference time between Monaco and Porto Cervo, a 195-nautical mile route. The current record is held by the monohull Esimit Europa 2 which covered the distance in 10 hours, 13 minutes and 42 seconds in 2012, making an average speed of 19 knots.
The second challenge of the season is also the most important as the Rolex Middle Sea Race is one of the great classic offshore races. Launched in 1968 and now on its 37th outing, it has attracted some of the leading names in international sailing over the years. The 608-nautical mile route starts and finishes from Malta and involves an anticlockwise circumnavigation of Sicily with the Aeolian Islands, the Egadi Islands, Pantelleria and Lampedusa to port of the fleet. The current race record was set by Rambler (USA) in 2007: she covered the 608 nautical miles in 47 hours, 55 minutes and 3 seconds.
Maserati Multi70’s third and final challenge of the year is the RORC Transatlantic Race, which starts from Lanzarote in the Canaries on November 26 and also marks her ocean debut. The fleet will cross the finish-line at Grenada in the Caribbean after around 3,000 nautical miles of sailing.
COURTESY AND WITH THANKS MASERATI. COPYRIGHT MASERATI SpA
– JULY 10: James McDonald rides Rouleau (R) to win The Commercial Property Law By Darbys Solicitors Nursery Handicap Stakes at Ascot racecourse on July 10, 2015 in Ascot, England. (Photo by Charlie Crowhurst/Getty Images) COURTESY AND WITH THANKS CHARLIE CROWHURST/Getty Images AND ASCOT RACE COURSE
Competitive racing is at the heart of the Friday of the King George VI Weekend, 2016, with a six-race card featuring the John Guest Brown Jack Stakes that commemorates the racing legend who won at no less than seven different Royal Meetings.
The Hommage Millesime 2 is one of last year’s most complicated watches – but it never showed its face until now
Followers of Roger Dubuis could well have been forgiven for writing 2016 off as an unremarkable year. The brand’s showing at SIHH focussed almost excusively on ladies’ watches, and the attention seemed to be on glamorous new iterations of existing (albeit impressive in their own right) skeletonised calibres.
And now this: the Hommage Millesime 2. It combines – deep breath – a split-seconds chronograph, a perpetual calendar with bi-retrograde date displays and a minute repeater. The combination of chronograph, calendar and chiming functions makes it a bona fide grande complication.
And… you will never see it. Very few people will. It is a unique piece, made for the American market, and it has already been sold to a New York collector. The watch was shown at the opening of Roger Dubuis’ first New York boutique last year, in fact, but wasn’t publicised any wider.
Why so rare? Quite apart from the intensely demanding nature of producing such a watch (even non-limited grande complications tend to be counted in the single digits), the Hommage Millesime 2 is a piece unique because only one movement exists.
The Millesime project is a restoration project at heart; complicated calibres from the late 19th and early 20th century have been sourced, re-built and re-designed in a style in-keeping with the brand (and in-keeping with the fact that Roger Dubuis himself began life as a restorer of pocket watches). The project was announced with the release of a pocket watch, mid-way through 2015. This also combined minute repeater, perpetual calendar and chronograph functions with retrograde displays, and clearly follows the same aesthetic approach. Every Millesime watch has also been finished to Poincon de Geneve standards (in line with everything else the brand produces). Courtesy and with thanks QPSalon
Take a look at the movement here – a thing of beauty that reminds us of the sensational hand-wound chronographs we photographed last year. Most visible is the chronograph mechanism, with the pincer-shaped split-seconds levers in the centre of the movement. Two column wheels are used, both capped with a top plate and large screw (Patek Philippe is one other brand to cap off its column wheels; most other brands like to leave them open).
To the right of the split-seconds column wheel (near where it says “Roger” on the case) is a hammer for the minute repeater; we would expect there to be a second hammer nearby but it’s not clear where. Also notable is the large balance wheel with several fine adjustment points. When possible, we will update this piece with more information from Roger Dubuis about the movement chosen for this watch.
The movement is signed in various places, reading “1/1”, “Forty Jewels”, “RD 180” (the new designation for the restored movement) and at least one further inscription we’re not clear on.
Feature extract With thanks and courtesy SalonQP Magazine
Apartment in Paris for sale Saint Germain des Pres. 2 bedrooms, 45 square metres, 595.000 euro. 19 july 2016.
ST GERMAIN DES PRES VAVIN. PARIS LEFT BANK
Price: €595 000
Size: 45 m2
PROPERTY FOR SALE
A beautiful 2-bedroom apartment located a few minutes from the iconic Jardins du Luxembourg. A perfect candidate for a Parisian pied-a-terre or a high-income rental investment, the property has windows facing west, air conditioning, a working fireplace, ceiling fan, fully equipped kitchen and two spacious bedrooms. The apartment is situated on the first floor of a classic end of 19th century building with an elevator and a basement. The building and the apartment offer complete silence and relaxation right in the heart of historic Paris. Rental estimate: 2900 € per month.
• Full of light
• Central heating
• Air conditioning
• No renovation needed
• Building in great condition
• Direct train to Charles de Gaulle and Orly airports and Gare du Nord train station
• Perfect for pied-à-terre or high-income rental.
The 6th arrondissement is, above all things, inspiring. Saint Germain has been at the centre of French intellectual life, with scholars, artists, existentialists, bohemians, and politicians. Its shaded avenues and quiet side streets with their cheerful cafés on the Boulevard Saint‐Germain. Intellectuals and the glitterati mingle with scruffy writers at the Café de Flore and Lipp…
With thanks & Courtesy Susie Tel 0033 6 17 40 8204 at Vingt Paris Ref:EMPSU50
Croatia Govt implements new regulations on super yachts over 45 metres, SuperYachtNewsCom reports, by Rory Jackson, courtesy & with thanks.
Appointed Croatian agent mandatory for vessels over 45m
By Rory Jackson
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The Croatian government has implemented a new regulation that requires all superyachts over 45m to appoint a local agent, should they wish to cruise in Croatian territorial waters. This new regulation is an extension of the European Union’s Directive 2002/59/EC, a directive that previously only applied to commercial vessels in Croatia.
Directive 2002/59/EC aims to improve maritime safety, port and maritime security, environmental protection and pollution preparedness by efficiently monitoring maritime traffic and transport. The implementation of Directive 2002/59/EC in Croatia requires vessels, now including yachts over 45m, to be monitored by the Croatian Maritime Information System (CIMIS), which can only be used by registered Croatian marine agents.
This latest iteration of European maritime law could not come at a less opportune moment with the Mediterranean season in full swing. Had the change been implemented before the season began, headaches may well have been avoided.
“As of now, if a superyacht over 45m arrives at any Croatian port without an agent, the customs office will not grant it clearance,” explains Dorijan Dujmic, a representative from BWA’s Croatian office.
This small, and otherwise benign, change of regulation should, in theory, cause very little disruption to the Croatian superyacht market. However, this is dependent on charter brokers, yacht management teams and captains being informed in a timely and concise manner to ensure errors are avoided in Croatian waters and the necessary agencies are contacted in advance. With thanks courtesy SuperYachtNewsCom Rory Jackson.
EU finance ministers get tough with Italian bank trying for third bailout
EU rules forbid troubled Tuscan bank Monte dei Paschi from receiving state aid, but its collapse would cause a political crisis for prime minister Matteo Renzi
Monte dei Paschi di Siena Bank in Siena. Shares in the bank have fallen by 80% in the past year. Photograph: Giuseppe Cacace/AFP/Getty Images
Stephanie Kirchgaessner. With courtesy and with thanks
Friday 15 July 2016 00.03 BST Last modified on Friday 15 July 2016 07.19 BST
The idea of modern banking was born in Siena in 1624, when the Medici Grand Duke decided to guarantee accounts held at Monte dei Paschi, the world’s oldest bank, with the proceeds of pasture he held in the Maremma in south-western Tuscany.
Nearly 400 years later, the principle established by the Tuscan ruler – that account holders and investors are protected by the state – lies at the heart of a crisis at Monte dei Paschi di Siena (MPS) that is worrying financial markets around the world.
Analysis Quiet crisis: why battle to prop up Italy’s banks is vital to EU stability
Forget Brexit or Grexit, €360bn of bad loans within a fragmented Italian banking sector could be the biggest threat of all
The country’s third-largest lender has already been bailed out twice in modern Italian history but is likely to need a third multibillion-euro intervention by the Italian government – a move that would need Brussels to break new rules designed to prevent such taxpayer bailouts after the 2008 global financial crisis.
So the question of who will pay for the inevitable rescue of MPS, whose share value has fallen 80% over the past year, has yet to be answered.
Three weeks after the news that Britain has voted to leave the European Union shocked the markets, a debate over the fate of MPS and the economic and political repercussions of inaction is raging from Rome to Brussels and Paris to Berlin.
The welfare of thousands of Italian households is at stake, as well as the political fortune of Italy’s prime minister, Matteo Renzi, who is facing the toughest political challenge of his career. It is also testing Italy’s credibility among foreign investors.
“There is no way they will let the bank go and create a systemic effect,” said Wolfango Piccoli, co-president of Teneo Intelligence. “The mechanics are still unclear but there will be a third bailout of Monte dei Paschi.”
The bank’s financial problems are neither new nor surprising. According to the IMF, Italian banks have €360bn (£300bn) of non-performing loans – loans that are likely to turn into bad debts – mostly taken out by small Italian businesses battered by years of recession. Italy returned to growth in 2015 but the improvements are only modest and this week the IMF said the country’s GDP was not likely to return to pre-crisis levels until the mid-2020s.
Unlike the US, Spanish and Irish financial crises, the Italian banking crisis is not the result of a speculative property bubble. While other issues have exacerbated the turmoil at Monte dei Paschi’s – including a poorly judged €9bn acquisition – the primary reason the bank is in trouble is because it doled out billions of euros in loans to small businesses at a time when the scale of the recession facing Italy was gravely underestimated.
From 2007 to 2013, Italy lost about a quarter of its industrial production and tens of thousands of companies collapsed. In 2013 more than 150 shops closed every day. Construction and home sales slumped and none of the sectors has recovered fast enough.
“These are all problems that are well known and have existed for years. The government – not just this one but the previous one – should have acted earlier,” said Vincenzo Scarpetta, an analyst at Open Europe.
Now the collapse of Monte dei Paschi’s shares, coupled with concern brought on by Brexit and fears that the Siena bank will fail a vital bank stress test on 29 July, has forced Italy’s hand: the banks need a bailout of about €45bn – a sum that most experts argue cannot be raised from investors.
Italian banks under pressure as Popolare di Vicenza IPO fails
During years of inaction by successive Italian governments, the country’s banks missed a critical window of opportunity. They are now subject to European banking regulations that would force the bank’s bondholders to take a significant hit before the state can inject funds. About a third of those bondholders are ordinary Italians.
Renzi’s government has already had a bitter taste of how badly the crisis could go if Italian pensioners were wiped out by the new rules. Last November the prime minister passed a decree in which four regional banks were saved. While depositors and senior bondholders were protected in the deal, thousands of junior bondholders were wiped out, leading one pensioner to commit suicide and a political backlash against Renzi.
But Brussels has so far shown little interest in the domestic economic risks and the potential for political backlash.
Last month Angela Merkel, the German chancellor, said that the EU would not veer from the new rules. Renzi retorted that he was in no mood to be “given a lesson by the schoolteacher”.
Earlier this week Jeroen Dijsselbloem, the Dutch finance minister and the head of Eurogroup, the informal grouping of EU’s finance ministers, downplayed the extent of Italy’s banking woes. “There have always been and will always be bankers who say: ‘We need more public money to recapitalise our banks’ and I will resist that very strongly because it is, again and again, hitting the taxpayer,” he said.
Dijsselbloem was partly responding to Deutsche Bank’s David Folkerts-Landau, who has argued that Brussels needs a €150bn bailout to begin a major recapitalisation of European banks. Analysts in Italy have raised questions about the huge UniCredit and local banks Rimini and Cesena.
Renzi holds an important card in this fight. His Democratic party is the only major political party in Italy that has shown unwavering support for the euro and the EU. His biggest rival, the populist Five Star Movement, is gaining traction following two big wins in local elections in Rome and Turin and could displace Renzi if the prime minister fails to win a critical referendum in the autumn on his sweeping constitutional reforms. He has sworn to resign if the referendum fails.
While the constitutional reforms and the banking crisis are not directly linked, Brussels is keenly aware that support for any Renzi initiative will be guided by voters’ view of the economy.
“If Italians lose faith in the banking sector it is a huge problem because going after the banks has always been a big card of the Five Star Movement,” said Piccoli.
“If something goes badly wrong with the banks – like a run – it would potentially bring down Renzi’s government because [it has] been saying the banks are solid.”
The Guardian Stephanie Kirchgaessner. 15/07/2016. With courtesy and with thanks
Versace true to form dramatic glam chic sexy for Fall 2016.
ARQANA prepares their catalogues for the Deauville race horse sales that take place in July & August each year.
VICTOIRE DES BORDE, F.09 Antarctique x Miss Berry (lot 220 )Presented by Feancois Marie Cottin.
Présentée par François-Marie Cottin en tant que pouliche sortant de l’entraînement, Victoire des Borde a réalisé une carrière remarquable. Multiple lauréate et placée de Listed, elle a également remporté le Prix Jean Stern (Gr.2) et la troisième place du Prix Ferdinand Dufaure (Gr.1) à Auteuil. En plus de ses performances sur la piste, VICTOIRE DES BORDE possède une grande valeur résiduelle pour l’élevage puisqu’elle n’est autre que la propre sœur de la championne UTOPIE DES BORDES, lauréate du Prix Maurice Gillois (Gr.1).
Christie’s Jewels Online features a broad selection of vintage, retro and Art Deco jewelry, including designs by Buccellati, Cartier, Tiffany & Co., Van Cleef & Arpels and David Webb. With over 190 lots on offer and bidding starting below $2,000, this online auction includes an exceptional range of jewels that would make the perfect addition to any collection. June 3-13 2016. courtesy Christies. copyright Christies. with thanks.
MEXICO //mexicoworldwide.blogspot.co.uk Morgane Bravo with thanks courtesy. copyright Morgane Bravo Think Tank Europa Mexico
Madame Morgane Bravo is the President of this association, Think Tank Europa Mexico. Morgane’s blogspot is a fast moving blog of her contacts in French Diplomatic circles.
bloodspot b//mexicoworldwide.blogspot.co.uk copyright Think Tank Europa MexicoMorgane Bravo with thanks.
The OECD Forum on June 1st launched their important Latin American & Caribbean Regional Programme.
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