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Irish AIFMs – Ready to Set Sail

The Central Bank of Ireland has set the AIFMD application filing deadline for Irish-based fund managers for February 21, 2014. This is five months ahead of the 22 July 2014 deadline set by the Directive, giving the Irish regulator sufficient time to process applications and ensure GPs are fully authorized in time.  Managers who wish to continue to market their funds into Europe must ensure they have the required processes, controls and governance in place to support their application by...

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Granito Thanks Sole24Ore for Promoting Inclusive Leadership

EACC New york Member GRANITO is honored to have been recognized in Monday's Sole24Ore newspaper's special magazine insert dedicated to "Woman, Economy and Power". We are pleased that a global publication has recognized the extraordinary efforts being made to advance the placement of women in the "C" level of major corporations, and Sole24Ore's decision to recognize this accomplishment by publishing a special 63 page insert dedicated to recognizing the talents and accomplishments of businesswomen, led by the efforts of  Hon. Lella Golfo, President of Fondazione Bellisario. The  Sole24Ore magazine gives visibility to...

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Luxembourg News Flas: Highlights of the New Government Programme

The new coalition government of Luxembourg formed after the elections held last October recently released its government programme. It is the expression of a strong commitment to further strengthen the competitiveness of the Luxembourg economy and to sustain the long-term development of its financial centre. Arendt & Medernach, one of the pre-eminent Luxembourg lawfirms and a EACCNY member would like to share with you the key measures highlighted in this programme. To download the document, please follow this link. For further information,...

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Above-average Growth in R&D Budgets in Austria in 2012

In 2012 global budgets for research and development climbed by 5.8 percent to USD 638 billion, a clear continuation of the growth trend in recent years following the economic crisis of 2009. This is the conclusion of the "Global Innovation 1000" study of the strategic consulting company Booz & Company. For the ninth straight year, the company analyzed the budgets of the 1,000 companies with the highest R&D expenditures in the world. Due to the crisis, European investments in research and...

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US CMBS Delinquency Rate Continues to Improve

The Trepp CMBS delinquency rate continued its impressive turnaround in November, which marked the sixth consecutive month of improvement. With a rate decrease of 32 basis points in November, the delinquency rate for US commercial real estate loans in CMBS is 7.66%. The Trepp delinquency rate has dropped 268 basis points since reaching an all-time high of 10.34% in the summer of 2012. As we noted last month, with only one month of data remaining in 2013, there could still be...

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IMP: New Microscopy Method Supplies 3D images

Researchers at the Institute of Molecular Pathology (IMP) in Vienna succeeded in developing a biological imaging process with an in-depth effect. This new technology is particularly suitable for sensitive and dynamic samples. The new microscopy technique developed by IMP in cooperation with the Vienna University of Technology enables a three dimensional image of the analyzed sample to be created with a single measurement. The new light microscopy method is based on converting the position information of fluorescent markets into color...

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Cayman signs FATCA Model 1 Intergovernmental Agreement with the United States

The Cayman Islands Government signed a Model 1 intergovernmental agreement with US Government on 29 November 2013. The intergovernmental agreement provides the framework for automatic exchange of tax information under the US Foreign Account Tax Compliance Act ("FATCA"). The Model 1 intergovernmental agreement and associated Cayman Islands Legislation will provide for Cayman domiciled foreign financial institutions to disclose information to the Cayman Tax Information Authority. The Cayman Tax Information Authority will implement the data-reporting framework for the automatic exchange of...

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Credit Story: November Loss Analysis: Volume and Loss Severity Bounce Back

After two months of relatively low liquidation volume, November brought a return to average levels. Liquidation volume came in at $1.2 billion in November, up from $960 million in October and $870 million in September. Volume registered on par with the 12-month moving average of $1.18 billion. Further, the majority of loans liquidated fell into the greater than 2% loss severity category. November loss severity landed at 48.10%, up considerably from October's 38.58% and above the 12-month moving average of...

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Granito: Access to Angel Investors & Other Funding Opportunities

GRANITO appreciates that regardless of how unhealthy a country's economy is, changing the place of home-country manufacturing may either not be feasible or in fact the best way to increase profits. Where locale is set, and costs are as low as possible, sales must increase, normally in a foreign territory. This often presents the need to identify new funding opportunities to support the process of internazionalization. GRANITO understands there tends to be truth in the old saying "It takes money...

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New York Suburban Office Loan Worth Watching as Lead Tenant Announces Departure

The CD 2006-CD3 deal has had its share of problems over the last seven years. To date, losses have exceeded 7% of the pool balance and the G class (the 25% that remains) is the first loss bond. Over 8% of the pool has been modified and about 9% is delinquent as of November. Given all that, it is with great reluctance that we add another loan to the list of assets worth watching. This one is the $80 million White Plains Plaza note. The...

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