Financing the transition of capital-intense maritime industries is challenging, especially within a climate of geopolitical uncertainty, unpredictable markets, and competing green technologies. However, make the right moves at the right time, with the right financial partners, and the rewards can outweigh the risk. Jan Ole Huseby, Head of Global Ocean Industries at DNB, discusses how innovative new products, small steps and valuable partnerships, like DNB’s with Nor-Shipping 2025, can accelerate sustainable progress. “We don’t want to adopt a wait and see attitude to the future, we want to help enable, and steer, the industry forward.” The future may be uncertain, but Jan Ole Huseby is not. After four years as Head of Global Ocean Industries at DNB, Huseby exudes a quiet confidence, and a not so quiet ambition, when it comes to the bank’s role in the evolving business landscape. His tenure has seen a consolidation in DNB’s leading standing in shipping and traditional oil service industries, while building positions of global strength in sectors ranging from offshore wind to aquaculture. At the time of writing, DNB was easily 2024’s top provider of syndicated loans for the maritime market and is by far and away the world’s dominant lender in the seafood sector. This strength, Huseby notes, gives DNB stable foundations to develop innovative new solutions along with its clients, the most recent being the Transition Loan Framework. Jan Ole Huseby, Head of Global Ocean Industries at DNB – helping customers navigate the pathway to sustainable financing “We see this as a positive step on the pathway to sustainability,” Huseby comments, “both for customers seeking change, and for a financial industry that must support them on that journey. “We strive to be leading in finding financial solutions to our client’s needs and in meeting growing regulatory requirements”. Transition loans are a relatively new concept. They open an accessible route into sustainable financing, supporting companies that are committed to work towards decarbonization, but who may not yet qualify for traditional ‘green’ financing. “Transition loans are about creating a bridge,” explains Huseby, “allowing companies in traditionally high-emitting sectors, such as shipping, to take important first steps to reduce emissions, while still achieving the financial and reputational benefits of sustainable finance.” As such, they’re about accelerating the shift from ‘brown’ to ‘green’ for industry at large; ensuring that the transition becomes possible for all players, rather than just those capable of making headline grabbing investments in trailblazing technology. Jan Ole Huseby – working in partnership with Nor-Shipping on the new OceanInvest initiative The sustainable focus of the loans opens favourable terms – DNB itself is driving for a goal of net zero emissions from its financing and investment activities by 2050, so is strategically focused on incentivising the shift – but there are strict criteria for lenders to satisfy. This, Huseby, notes is an essential part of the deal. “Transparency is key,” Huseby emphasizes. “It’s not enough to say you’re working toward sustainability; you need to show measurable results as part of a company’s overall sustainability and transition plan. That’s why we’ve built reporting requirements into the framework. It’s about building trust—with our clients, with investors, and with the public.” Alongside the reporting, which will be verified by DNV to ensure quality and robustness of results, the product is classified as a ‘use of proceeds loan’ whereby investments must be made in reducing emissions and, where possible, the “best available” technology to achieve this. The potential applications for funds are wide ranging but include activities such as energy-efficient retrofits for existing vessels, investments in alternative, low or zero carbon fuel technologies, greener newbuilds, and services to decommission oil and gas infrastructure. Huseby is keen to stress, in a ‘big picture’ view extending far beyond any one financial product, that investments are needed in taking “practical, realistic and meaningful incremental steps today”, rather than waiting for “leaps forward” in new fuels. Nor-Shipping 2025 – bringing together the world of shipping and ocean industries to #future-proof progress He explains: “There’s a need to focus on the existing fleet, looking at how currently available, new technologies can increase efficiency, tackle emissions and also deliver commercial benefits. Transition financing fits well within this context, but it’s also about adopting the right mindset; the willingness to embrace innovation and start the sustainability journey.” Huseby says he understands a degree of inaction on the “big fuel question” as there are so many competing options, presenting owners with a tricky nut to crack when it comes to assessing the most viable solutions for their fleets. This is further complicated by the competition for green fuels, with shipping forced to take its place in the queue for supply alongside every other transitioning sector. “Which,” he notes, “makes it all the more important to take whatever smaller, but still very meaningful, steps we can take now. We need to take a holistic view and act accordingly. Luckily, from DNBs perspective, we have the privilege of working with globally leading, forward-thinking owners that are as committed to progress as we are. Working together we can have a strong collective impact on this major issue.” The mention of collective impact pivots Huseby onto the subject of Nor-Shipping. DNB has once again committed itself as one of the two Main Partners for the week-long exhibition and event programme, taking place 2-6 June 2025, and, in a fresh initiative for Nor-Shipping’s 60th anniversary, as a key contributor to the new OceanInvest conference. OceanInvest, which joins a packed knowledge sharing programme including headline events such as the Ocean Leadership Conference, The International Ship Autonomy and Sustainability Summit, and the Nor-Shipping Offshore Wind Conference (amongst others), will create a forum looking at next generation investments in sustainable ocean business opportunity. An objective that dovetails perfectly with both Nor-Shipping’s main theme of #Future-Proof and DNB’s decarbonization ambitions. “We are trusted partners,” Huseby notes, “to Nor-Shipping and our customers of course, but also to the wider industry, as shown by our active participation in endeavours such as the Poseidon Principles, Responsible Ship Recycling Standards (RSRS), the Getting to Zero Coalition, and the Norwegian Green Shipping Programme.” He continues: “We have supported the industry for more than 100 years, since the age of tall-ships, and look to translate that long expertise into advisory services and collaborations that help steer shipping and ocean developments along a responsible and profitable path. OceanInvest feeds into that mission, providing a platform for knowledge sharing, discussion and inspiration that will help businesses not just with investment decisions, but with the value they can unlock from them. “It’ll be fascinating to engage with the Nor-Shipping audience on such a focused initiative.” Although there’s still some months to go, Huseby hints that new approaches to releasing capital for projects that tick both the environmental and business efficiency boxes are bound to be a key subject for discussion, as will wider trends and geopolitical developments influencing this most global of sectors. “There’s a lot of uncertainty facing the world at present,” he states, “but the need to change is the one thing that remains clear. “With the right investment strategies we believe our customers can take control of that transformation, and seize opportunities, rather than being steered by it. We’re here to help in that respect – both through initiatives such as Transition Loans, and physical arenas like Nor-Shipping. “We are fully committed to playing our part in a brighter future for ocean business... you can be absolutely certain of that.” Source: Nor-Shipping 2025VANCOUVER, British Columbia, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or “the Company”) today releases its updated Mineral Reserve and Mineral Resource (“MRMR”) estimates as of September 30, 2024. “Our updated Mineral Reserves estimate provides a solid foundation and underpins our production profile over the next decade and beyond,” said George Burns, President and CEO. “We were pleased to increase our Mineral Reserves by approximately 2% overall, driven by increases at the Lamaque Complex and Efemcukuru that extends Reserve mine life significantly and complements our already long mine life assets at Skouries, Kisladag and Olympias. The Lamaque Complex Mineral Reserve increased by 45%, driven primarily by the declaration of an Inaugural Mineral Reserve at Ormaque of 619 thousand ounces. This follows a solid track record of successfully replacing Mineral Reserves since acquiring the asset in 2017 and sets up the Lamaque Complex for the long-term with two underground mines with significant Inferred Mineral Resource conversion potential and exploration upside.” “In addition, at Efemcukuru, we increased Mineral Reserves by 23% resulting in an extension to the mine life by an additional two years to an updated life of mine of eight years. Efemcukuru has been a reliable producer since 2011, and our team remains committed to exploring opportunities to extend mine life further. During 2025, our focus will continue to be on extending the mine life at our existing operations and testing near-mine exploration targets, while seeking a discovery from our highly prospective portfolio of early stage exploration targets in Canada and Turkiye.” Mineral Reserves Update The Company’s Proven and Probable gold Mineral Reserves totalled 11.9 million ounces as of September 30, 2024, an increase of approximately 2% from the previous MRMR statement from September 30, 2023. The complete MRMR table and notes can be found at the end of this release. (1) The Company’s total MRMR excludes Mineral Reserves at its non-core Romanian asset (Certej). As disclosed in the Q3 2024 Managements Discussion & Analysis, the Certej project has been presented as a disposal group held for sale as at September 30, 2024 and as a discontinued operation for the three and nine months ended September 30, 2024. On October 7, 2024, the Company entered into a share purchase agreement to sell the Certej project. The closing of the disposition is subject to certain conditions. (2) Depletion declared here are in-situ ounces. Depletion includes the 12-month period of October 1, 2023, through September 30, 2024. Excluding depletion, the increase in Mineral Reserves is primarily attributable to additions at Kokarpinar South at Efemcukuru as well as an inaugural Mineral Reserve estimate for the Ormaque deposit within the Lamaque Complex. The following table summarizes the period-over-period changes to the Company’s Mineral Reserves: NOTE: Totals may not sum due to rounding. (1) The Company reports its MRMR as of September 30, 2024. As such, the change year over year is from October 1, 2023 to September 30, 2024. Mineral Resources Update Eldorado’s Measured and Indicated Mineral Resources (“M&I Mineral Resources”) totalled 22.0 million ounces gold, as of September 30, 2024. The Company successfully converted Inferred Mineral Resources to M&I Mineral Resources at Ormaque, within the Lamaque Complex, and at Efemcukuru. The total is offset by depletion at the other operating mines. This resulted in a 3% decrease from the previous MRMR statement from September 30th, 2023. Eldorado’s Inferred Mineral Resources totalled 6.8 million ounces as of September 30, 2024, a 10% decrease from the previous MRMR statement. Detailed MRMR disclosure tables are included at the end of this news release. The following table summarizes the period-over-period changes to the Company’s Mineral Resources: NOTE: Totals may not sum due to rounding. (1) Mineral Resources are inclusive of Mineral Reserves. (2) The Company Reports on its MRMR as of September 30, 2024. As such, the change year over year is from October 1, 2023 to September 30, 2024. (3) As disclosed in the Q3 2024 Managements Discussion & Analysis, the Certej project has been presented as a disposal group held for sale as at September 30, 2024 and as a discontinued operation for the three and nine months ended September 30, 2024. On October 7, 2024, the Company entered into a share purchase agreement to sell the Certej project. The closing of the disposition is subject to certain conditions. 2025 Reporting Schedule The Company intends to report, and host a conference call led by senior management, as set out in the table below. The Company reserves the right to amend the schedule in its discretion and will inform the market of any changes in schedule. About Eldorado Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO). Contact Investor Relations Lynette Gould, VP, Investor Relations, Communications & External Affairs 647 271 2827 or 1 888 353 8166 lynette.gould@eldoradogold.com Media Chad Pederson, Director, Communications and Public Affairs 236 885 6251 or 1 888 353 8166 chad.pederson@eldoradogold.com Notes: (1) Resource grades are reported undiluted, however resources are assessed for reasonable expectation of economic extraction by applying expected minimum mining shapes. (2) As disclosed in the Q3 2024 Managements Discussion & Analysis, the Certej project has been presented as a disposal group held for sale as at September 30, 2024 and as a discontinued operation for the three and nine months ended September 30, 2024. On October 7, 2024, the Company entered into a share purchase agreement to sell the Certej project. The closing of the disposition is subject to certain conditions. (3) Mineralized shapes based on RPEEE identified based on 2.5 g/t Au COG; within shapes material below incremental COG of 1.0 g/t have been excluded; grades are diluted by must-take material between 1.0 and 2.5 g/t Au. (4) Due to narrow veins, continued conversion of Resources to Reserves at Ormaque will reflect expected lower grades to fully represent mining modifying factors. Notes: (1) Resource grades are reported undiluted, however resources are assessed for reasonable expectation of economic extraction by applying expected minimum mining shapes. (2) As disclosed in the Q3 2024 Managements Discussion & Analysis, the Certej project has been presented as a disposal group held for sale as at September 30, 2024 and as a discontinued operation for the three and nine months ended September 30, 2024. On October 7, 2024, the Company entered into a share purchase agreement to sell the Certej project. The closing of the disposition is subject to certain conditions. (3) Due to narrow veins, any future potential conversion of Resources to Reserves at Ormaque will reflect expected lower grades to fully represent mining modifying factors. ADVISORIES AND DETAILED NOTES ON MINERAL RESERVES AND RESOURCES General Mineral Reserves and Mineral Resources are as of September 30, 2024 The Mineral Reserves and Mineral Resources were classified using logic consistent with the CIM Definition Standards for Mineral Resources & Mineral Reserves (2014) incorporated, by reference, into National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Sample preparation, analytical techniques, laboratories used, and quality assurance and quality control protocols used during exploration drilling programs are done consistent with industry standards and independent certified assay labs are used. Mineral Reserves are included in the Mineral Resources. The Mineral Reserves and Mineral Resources are disclosed on a total project basis. Measured and Indicated Mineral Resources which are not Mineral Reserves, do not have demonstrated economic viability. With respect to “Inferred Mineral Resources”, there is a great amount of uncertainty as to their existence and uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of a “Measured Mineral Resource”, “Indicated Mineral Resource” or “Inferred Mineral Resource” will ever be upgraded to a higher category. Additional information on the Kisladag, Efemcukuru, Olympias, Skouries and Lamaque mineral properties mentioned in this news release (all of which are considered to be material mineral properties to the Company) are contained in Eldorado’s annual information form for the year ended December 31, 2023 and the following technical reports for each of those properties, all of which are available under the Company's profile at www.sedarplus.com and www.sec.gov : Qualified Persons Simon Hille, FAusIMM, Executive Vice President, Operations and Technical Services, is the “qualified person” under NI 43-101 responsible for preparing and supervising the preparation of the scientific or technical information contained in this news release and verifying the technical data disclosed in this document relating to our operating mines and development projects, unless otherwise noted. Additional qualified persons have approved disclosures for specific properties as detailed in “Mineral Reserve Notes” and “Mineral Resource Notes” below. Jessy Thelland, géo (OGQ No. 758)., Director Technical Services Lamaque, a member in good standing of the Ordre des Géologues du Québec, is the qualified person as defined in NI 43-101 responsible for, and has verified and approved, the scientific and technical disclosure contained in this news release for the Quebec projects. Cautionary Note to US Investors Concerning Estimates of Measured, Indicated and Inferred Resources There are differences between the standards and terms used for reporting mineral reserves and resources in Canada, and in the United States pursuant to the United States Securities and Exchange Commission’s (the “SEC”). The terms Mineral Resource, Measured Mineral Resource, Indicated Mineral Resource and Inferred Mineral Resource are defined by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and the CIM Definition Standards on Mineral Reserves and Mineral Resources adopted by the CIM Council, and must be disclosed according to Canadian securities regulations. These standards differ from the requirements of the SEC applicable to domestic United States reporting companies. Accordingly, information contained in this news release with respect to mineral deposits may not be comparable to similar information made public by United States companies subject to the SEC’s reporting and disclosure requirements. Mineral Reserve Notes Eldorado reports Mineral Reserves in accordance with CIM Definition Standards. Mineral Reserves for the operating sites (Efemcukuru, Kisladag, Olympias, and within the Lamaque Complex – Ormaque and Triangle) were determined using a long-term gold price of $1,450/oz while Mineral Reserves for the Skouries and Perama Hill projects were determined based on a $1,300/oz gold price. A reserve test is undertaken every year to confirm future undiscounted cash flow from reserve mine plan is positive. Qualified Persons The following persons, all of whom are qualified persons under NI 43-101, have approved the disclosure related to the Mineral Reserves for the projects noted below contained within this release: Mineral Resource Notes Eldorado reports Mineral Resources in accordance with CIM Definition Standards. All Mineral Resources are assessed for reasonable prospects for eventual economic extraction (RPEEE). The Resource cut-off grades or values (e.g. gold equivalent) are determined using a long-term gold price ($1,800/oz) and modifying factors derived in the resource to reserve conversion process (or by comparison to similar projects for our resource-only properties). These values are then used to create constraining volumes that provide limits to the reported Resources. Resource grades are reported undiluted from within the constraining volumes that satisfy RPEEE. At Efemcukuru, mineralized shapes based on RPEEE identified based on 2.5 g/t Au COG; within shapes material below incremental COG of 1.0 g/t have been excluded; grades are diluted by must-take material between 1.0 and 2.5 g/t Au. Due to the presence of narrow veins, any future potential conversion of Resources to Reserves at Ormaque will reflect expected lower grades to fully represent modifying factors associated with mining. Open Pit Resources used pit shells created with the long-term gold price to constrain reportable model blocks. Underground Resources were constrained by volumes whose design was guided by a combination of the reporting cut-off grade or value, contiguous areas of mineralization and mineability. Eldorado’s Mineral Resources are inclusive of Reserves. Mineral Resource Reporting and demonstration of Reasonable Prospects for Eventual Economic Extraction: The Mineral Resources used a long term look gold metal price of $1,800/oz for the determination of resource cut-off grades or values. This guided execution of the next step where constraining surfaces or volumes were created to control resource reporting. Open pit-only projects (Kisladag, Perama Hill, Perama South, and Certej) used pit shells created with the long-term gold price to constrain reportable model blocks. Underground Resources were constrained by 3D volumes whose design was guided by the reporting cut-off grade or value, contiguous areas of mineralization and mineability. Only material internal to these volumes were eligible for reporting. Projects with both open pit and underground Resources have the open pit Resources constrained by either the permit (Skouries), and pit shell, or by an open pit/underground economic crossover surface, and underground Resources constrained by a reporting shape. (1) Mineralized shapes based on RPEEE identified based on 2.5 g/t Au COG; within shapes material below incremental COG of 1.0 g/t have been excluded; grades are diluted by must-take material between 1.0 and 2.5 g/t Au. Qualified Persons The following persons, all of whom are qualified persons under NI 43-101, have approved the disclosure related to the Mineral Resources for the projects noted below contained within this release: Cautionary Note about Forward-looking Statements and Information Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipates”, “believes”, “budget”, “continue”, “estimates”, “expects”, “forecasts”, “foresee”, “future”, “goal”, “guidance”, “intends”, “opportunity”, “outlook”, “plans”, “potential”, “strive”, “target” or “underway” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “can”, “could”, “likely”, “may”, “might”, “will” or “would” be taken, occur or be achieved. Forward-looking statements or information are by their nature based on a number of assumptions, that management considers reasonable. However, such assumptions involve both known and unknown risks, uncertainties and other factors which, if proven to be inaccurate, may cause actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements or information. Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to: our Mineral Reserves and Mineral Resources; long term prospects for the Lamaque Complex, the sale of the Certej project; exploration opportunities to extend the life of mine at Efemcukuru; 2025 focus on extending mine life, testing near-mine exploration targets and seeking a discovery from prospective early-stage exploration targets; the filing of a new technical report for the Lamaque Complex, the disclosed outlook on long term metal prices; and generally our strategy, plans and goals. We have made certain assumptions about the forward-looking statements and information, including assumptions about: our ability to obtain all required approvals and permits in a timely manner and our ability to comply with all the conditions that are imposed in such approvals and permits; timing of filing of a new technical report for the Lamaque mineral properties; timing, cost and results of our construction and development activities, improvements and exploration; the future price of gold and other commodities and the global concentrate market; exchange rates; anticipated values, costs, expenses and working capital requirements; production and metallurgical recoveries; Mineral Reserves and Mineral Resources; our ability to unlock the potential of our brownfield property portfolio; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables (including fuel, explosives, cement, and cyanide); the impact and effectiveness of productivity initiatives; the time and cost necessary for anticipated overhauls of equipment; expected by-product grades; the use, and impact or effectiveness, of growth capital; the impact of acquisitions, dispositions, suspensions or delays on our business; the sustaining capital required for various projects; and the geopolitical, economic, permitting and legal climate that we operate in (including disruptions to shipping operations and related impacts). Even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, risks relating to our operations in foreign jurisdictions (including disruptions to shipping operations) development risks at Skouries and other development projects; community relations and social license; liquidity and financing risks; climate change; inflation risk; environmental matters; production and processing; waste disposal; geotechnical and hydrogeological conditions or failures; the global economic environment; risks relating to any pandemic, epidemic, endemic or similar public health threats; reliance on a limited number of smelters and off-takers; labour (including in relation to employee/union relations, the Greek transformation, employee misconduct, key personnel, skilled workforce, expatriates, and contractors); indebtedness (including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and change in credit ratings); government regulation; the Sarbanes-Oxley Act; commodity price risk; mineral tenure; permits; risks relating to environmental sustainability and governance practices and performance; financial reporting (including relating to the carrying value of our assets and changes in reporting standards); non-governmental organizations; corruption, bribery and sanctions; information and operational technology systems; litigation and contracts; estimation of Mineral Reserves and Mineral Resources; different standards used to prepare and report Mineral Reserves and Mineral Resources; credit risk; price volatility, volume fluctuations and dilution risk in respect of our shares; actions of activist shareholders; reliance on infrastructure, commodities and consumables (including power and water); currency risk; interest rate risk; tax matters; dividends; reclamation and long-term obligations; acquisitions, including integration risks, and dispositions; regulated substances; necessary equipment; co-ownership of our properties; the unavailability of insurance; conflicts of interest; compliance with privacy legislation; reputational issues; and competition. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Information Form & Form 40-F filed on SEDAR+ and EDGAR under our Company name, for a fuller understanding of the risks and uncertainties that affect our business and operations. The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States.
Campaigners called for voters to be given a say over who replaces Senedd politicians booted out of office for bad behaviour under a proposed system of recall. Jessica Blair, director of the Electoral Reform Society (ERS) Cymru, supported calls for a recall system to allow voters to remove misbehaving politicians between elections. But Ms Blair said voters should have a say over the replacement, warning an element of personal accountability will be lost with the Senedd’s new “closed-list” electoral system. From 2026, people will vote for parties rather than individuals as Wales ditches first past the post in favour of a full form of proportional representation, with no by-elections being held. Ms Blair said: “This idea of replacing someone with the next person on the list, it could be ... from the voters’ perspective ... seen as a party being rewarded for bad behaviour.” Giving evidence to the Senedd’s standards committee, she added: “This shouldn’t be necessarily about parties keeping control, it should be about voters having their say.” Labour’s Mick Antoniw pointed out it is the person, not the party, that has transgressed. But Ms Blair said: “That could also reflect badly on the party or the way a party’s handled it, so I don't think it's necessarily as clear cut, as this is one person’s actions.” She told the committee that three of the four UK Parliament by-elections triggered by recall petitions since 2019 were won by a different party. She said: “Parties can be punished for an individual’s bad behaviour or it could be a reflection of changing political support post election. There doesn’t seem to be a real case for retaining that party’s seat, especially three years after an election, for example.” The standards committee will make recommendations on how a recall mechanism should work in Wales as part of its inquiry on Senedd members’ accountability. Hannah Blythyn, who chairs the committee, asked witnesses whether the circumstances for recalling a Senedd member should be the same as Westminster. Ms Blair suggested the triggers – a custodial sentence of less than 12 months, a suspension of at least ten sitting days, or an expenses offence conviction – make a good starting point.ESTERO, Fla. (AP) — Sydney Shaw scored 20 points and made four 3-pointers, JJ Quinerly added 14 points and No. 12 West Virginia handed Boise State its first loss, 82-47 on Saturday in the Gulf Coast Showcase. West Virginia advances to the championship game on Sunday, while Boise State plays for third place. The Mountaineers have started 8-0 in back-to-back seasons after last year's 11-0 beginning. Quinerly also had three steals to help West Virginia reach double figures in that category in every game this season. The Mountaineers also forced 20-plus turnovers for the eighth straight game. Boise State was held to just six points in the first and third quarters. West Virginia went on two 10-0 runs in the first quarter to build a 16-point lead. The Mountaineers led by double figures the rest of the way. It was 45-23 at halftime then Quinerly scored four straight points to begin a 9-0 run that ended in a 32-point lead. Freshman Jordan Thomas, coming off her first career double-double, had 10 points and six rebounds for West Virginia. Elodie Lalotte scored 11 points for Boise State (7-1). Teryn Gardner addd 10. West Virginia was coming off an 89-54 victory over High Point on Friday to begin the tournament. The Mountaineers led by as many as 39 points and forced 22 turnovers in that one. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up . AP women’s college basketball: and
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The college football regular season is coming to a close, but that means postseason games are just around the corner. The in the Big Ten Football Championship on Saturday, Dec, 7 at 8 p.m. EST in Indianapolis. Oregon had already clinched its spot in the Big Ten Championship and looks to finish off an undefeated season against Washington on Saturday evening. : Penn State rolled past Maryland 44-7 on Saturday, and got some help from Michigan when the and knocked the Buckeyes out of the conference championship. As of publication, the If you're looking for a more luxurious experience, the .June Chen Bar operators in Hong Kong hope business will improve over Christmas and New Year as tax cuts on premium alcohol have not helped boost sales significantly so far. But the overall catering sector saw business exceed expectations over the winter solstice, with revenue hitting HK$400 million, surpassing initial projections of HK$380 million, according to latest data. Bar operators say a vast number of their customers mainly drink beer, wines and cheaper spirits. Therefore, the recent cut on spirits with over 30 percent alcohol content and an import price above HK$200 is unlikely to pump up sales over the festive season, with drinkers reluctant to loosen their purse strings. "Many customers expected the cut would lead lower prices, but as most bars mainly buy liquor below HK$200 a bottle, the new measure doesn't really help us," Ken, a staff member in a bar, said. He says staff have had to explain to some incensed customers why prices have remain unchanged. Under the new structure, a duty rate of 10 percent will apply only to the portion of the bottle price over HK$200, and duty of 100 percent will still be paid on the first HK$200 of the import price. This means the more expensive the liquor, the greater the tax cut. On the import price of a HK$1,000 bottle, for instance, tax will be slashed by 72 percent from HK$1,000 to HK$280. The tax on liquor costing HK$200 or below remains at 100 percent. "Unfortunately, the current market is sluggish, and high rollers who drink spirits worth more than HK$1,000 a bottle are very rare," Ken says, adding that bars have not benefited from the new rule. People familiar with the matter say only 15 percent of the market accounts for imported spirits with a price of more than HK$200. In other words, 85 percent of all liquor is still taxed the same way. Jackie Chan Wai, the founder of Bar Pacific (8432), which has 56 outlets in the city, says the chain had not seen a noticeable increase in customers since the new rule took effect. Most of the spirits that the chain imports are priced below HK$200 and do not benefit from the cut. But spirits with prices higher than HK$200 a bottle also can't be bought at lower prices for now because orders for existing stock were made before the cuts came into effect. Bar Pacific asked its distributors whether they would drop the prices of these premium spirits but received no response. Upscale bars have faced the same problem. Jenny, who runs an upmarket bar in Tsim Sha Tsui, says after the new tax structure was launched, some peers contacted suppliers in the hope they would decrease prices, but were told that as the contracts had been already signed, the prices could not be lowered. These bars have no other choice but to complete contracts as soon as possible before ordering spirits at the lower prices. Meanwhile, bars continue to shut down amid the economic downturn, with Ken estimating that the number has plunged to 600 from 1,000 before Covid. And Chan says the number of customers has dropped by 10 to 15 percent since the reopening of the border, mainly because of locals heading north and spending their cash there. Sam, an operator of a bar in Lan Kwai Fong, says cheap spirits offered by bars in the mainland are killing business in Hong Kong. For instance, a brand of Champagne sold at HK$3,000 in the city can be bought for only 1,200 yuan (HK$1,284) in Shenzhen, he says. A weekend reveler says it only costs him a few hundred dollars eat, drink and rent a room for a night across the border while the same amount of cash would only get him a few drinks at local bar. Meanwhile, to attract customers, local bars have been holding theme nights, rolling out discounts and even hiring DJs to woo more customers. Some have come up with novel cocktails including one that combines Chinese white liquor with lemon tea. But the city's lawmakers remain upbeat. After signing the revised structure into law on December 12, the Legislative Council said it will boost sales, auction and storage of premium liquor in the city, with commercial sector lawmaker Martin Liao Cheung-kong saying it will stimulate robust development of the liquor trade. Also, wholesale and retail lawmaker Peter Shiu expects business for the catering sector this festive season will be better than last year.None
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