Pension funds PBZ CO and Erste take over Jadran, Goran Fabris new president of the board

first_imgThe pension funds PBZ CO dd and Erste doo for HRK 199,8 million yesterday officially took over 70,74% of the shares of Crikvenica-based Jadran, which will recapitalize with HRK 200 million and invest a total of HRK 450 million.Yesterday, the General Assembly of the hotel company Jadran dd was held in Crikvenica, at which a new Supervisory Board was elected, and Goran Fabris, who comes from the position of Chief of Operations of Rovinj’s Maistra, was elected the new President of the Management Board. Business diary.”Business plans for the forthcoming period include financing the improvement of accommodation standards in order to ensure quality through conversion, renovation, reconstruction, upgrading of existing capacities and comprehensive infrastructure interventions as well as strengthening employee competencies and management capacity at all levels of the Company’s management. and destinations in collaboration with the local community, “Said Goran Fabris at the press conference.Following CERP’s decision to sell 70,74% of the Company’s shares from its portfolio, PBZ CROATIA OSIGURANJE dd for the management of mandatory pension funds and Erste doo – the company for the management of mandatory and voluntary pension funds were selected as the best bidders.last_img read more

US imposes new Iran sanctions that may spook European banks

first_imgAnalysts said the secondary sanctions may further deter European and other foreign banks from working with Iran, even for permitted humanitarian transactions.”It’s like a punch in the face to the Europeans, who have gone out of their way to indicate to the Americans that they view it as being extremely threatening to humanitarian assistance or humanitarian trade going to Iran,” said Elizabeth Rosenberg of the Center for a New American Security think tank.”They also want … to make it very difficult for any future president to be able to unwind these measures and engage in nuclear diplomacy,” Rosenberg added, alluding to the possibility that Democratic candidate Joe Biden could defeat Republican President Donald Trump in the Nov. 3 US election.Biden, who was vice president when the Obama administration negotiated the nuclear accord, has said he would rejoin the deal if Iran first resumed compliance with it.Tensions between Washington and Tehran have soared since Trump unilaterally withdrew in 2018 from the 2015 Iran nuclear deal struck by his predecessor and began re-imposing US sanctions that had been eased under the accord.The sanctions Trump has reinstated target everything from oil sales to shipping and financial activities. While they exempt food, medicine and other humanitarian supplies, many foreign banks are already deterred from doing business with the Islamic Republic – including for humanitarian deals.Washington’s latest move targeted what the Treasury described as 18 major Iranian banks, which were designated under authorities including US Executive Order 13902, which allows the Treasury Department to target entire sectors of the Iranian economy.It named them as Amin Investment Bank, Bank Keshavarzi Iran, Bank Maskan, Bank Refah Kargaran, Bank-e Shahr, Eghtesad Novin Bank, Gharzolhasaneh Resalat Bank, Hekmat Iranian Bank, Iran Zamin Bank, Karafarin Bank, Khavarmianeh Bank, Mehr Iran Credit Union Bank, Pasargad Bank, Saman Bank, Sarmayeh Bank, Tosee Taavon Bank, Tourism Bank and Islamic Regional Cooperation Bank.Topics : The United States on Thursday slapped fresh sanctions on Iran’s financial sector, targeting 18 banks in an effort to further choke off Iranian revenues as Washington ramps up pressure on Tehran weeks ahead of the US election.The move freezes any US assets of those blacklisted and generally bars Americans from dealing with them, while extending secondary sanctions to those who do business with them. This means foreign banks risk losing access to the US market and financial system.The Treasury Department said in a statement the prohibitions did not apply to transactions to sell agricultural commodities, food, medicine or medical devices to Iran, saying it understood the need for humanitarian goods. However, Iranian Foreign Minister Mohammad Javad Zarif accused the United States of targeting Iran’s ability to pay for basic necessities during the COVID-19 pandemic.”US regime wants to blow up our remaining channels to pay for food & medicine,” Zarif said on Twitter. “Conspiring to starve a population is a crime against humanity.”Iranian Central Bank governor Abdolnaser Hemmati dismissed the sanctions as political propaganda and played down their practical impact.”Rather than having any economic effect, the American move is for US domestic propaganda and political purposes, and shows the falsity of the human rights and humanitarian claims of US leaders,” Hemmati said in a statement.last_img read more

​Alecta sees likely insolvencies speeding shift to alternatives

first_imgAlecta may complete its multi-year plan to double its alternatives allocation sooner than thought – given the likely increase in opportunities as businesses fall victim to the pandemic’s economic damage, according to the SEK960bn (€90bn) fund’s chief investment officer.The pension fund – Sweden’s largest – took the decision to lift its exposure to alternative investments to 20% of the total portfolio from 8% soon after its new CIO Hans Sterte arrived from Skandia two years ago.The rationale for the asset allocation shift is that it should enable Alecta to maintain the same level of return in the overall portfolio, but with a lower level risk.Hans Sterte, Alecta’s CIO and deputy chief executive officer, told IPE: “A few years back, the Alecta portfolio consisted of public equity, fixed income, credit and real estate, but by adding a few assets classes we hope to reduce the risk but at the same return.” So far, the asset segment has increased to a 12% weighting, with most of that in the form of real estate – the only type of alternative investment Alecta held when Sterte took on the role.From here, property is to increase to 15% of the overall portfolio, with a 3% allocation to infrastructure and 2% private debt slice completing the targeted 20% alternatives allocation.Up to now, the timescale for this mammoth asset allocation shift was five years from the time it started, meaning there should still be four years to go.“That’s the plan, but as the market is changing very rapidly, it is going to be very opportunistic,” Sterte said.“We are only going to buy when its right to buy, however in volatile markets there is no problem in going a bit more quickly and we are flexible,” he said.Sterte said that unfortunately, the effect of the COVID-19 pandemic is not going to disappear in a short space of time.“At the beginning, it is more of a liquidity problem for companies, but available liquidity – including that from central banks – is not going to last as long as the partial lockdowns,” he said. Hans Sterte, Alecta’s CIO and deputy CEOEventually, Sterte predicted, it will become a solvency problem, which will provide openings for Alecta, with its appetite to stock up on alternative assets.“If you look back to the financial crisis of 2008 and 2009, the best opportunities appeared in 2009, so we don’t need to be in a hurry,” he said, but added that Alecta may step in to help some businesses in the second half of this year.To meet the 20% alternatives allocation target even at the size of Alecta’s total portfolio at the end of 2019, the Stockholm-based firm – the main provider of Sweden’s ITP occupational pension – would need to make a further €7bn of investments.The fund is open to making new alternatives investments in Sweden, the rest of Europe and the US, but has does not have a pre-defined preference for the completed portfolio’s geographical allocation.“It will depend on where we find the opportunities,” said Sterte, adding that right now these have been discovered to a greater extent abroad.Alecta is doing deals both directly and within investor clubs, as well as investing via unlisted funds, he said.“In Sweden, where we are at home, we generally prefer to invest directly, and this is also the case in Europe, which we know a bit more about than further away, though we do fund and club investments there too.“In the US, we can use both fund and club investments,” Sterte said.Because investment in direct real estate, infrastructure and private debt is a more intensive activity in terms of human input, Alecta has been busily hiring.As a result, the investment department has now grown to 55 from the 45-person operation it was two years ago.As part of its expansion into alternatives, Alecta announced this month it has linked up with Dutch asset manager PGGM to co-invest in credit risk sharing (CRS) transactions.In January, the pension fund revealed it is building up two platforms to invest directly in Swedish residential lending and European infrastructure debt.To read the digital edition of IPE’s latest magazine click here.last_img read more

Spotlight on Gold Coast house that offers luxury living in a new light

first_imgBut anyone jetting past on their boat will be pretty jealous of this backyard.It exudes kerbside appeal thanks to a contemporary facade, which combines a range of materials and features a gatehouse entrance with a glass door and walkway across a pond. From the water, the ultimate entertainment area is on show. A sunken lounge area with built-in seating and a bench, mood lighting and a gas fire pit is the ultimate area to relax or host guests. It connects to the barbecue and dining zone with feature pendant lighting and a marble bench. These areas make the most of the property’s 19.3m of river frontage. The pool is tucked away on one side of the property.A second outdoor entertainment zone is tucked around the corner and sits beside the solar-heated pool, creating a peaceful and private spot. The resort-style home is just as spectacular inside. An open-plan living, dining and kitchen area is zoned at the rear of the ground floor with large, glass sliding doors creating an effortless flow to the outside. The main bedroom with a walk-in wardrobe, ensuite and outdoor shower is on the ground floor along with a study, laundry and media room. The main bathroom and remaining three bedrooms are on the second floor, one of which features a walk-in wardrobe and ensuite. The luxury home has plenty of kerbside appeal. All eyes are on 12 Alaska Ave, Broadbeach Waters.BE swept away on a lavish tropical holiday everyday at this modern waterfront house. From Balinese-inspired bathrooms to an outdoor entertainment zone, which would rival that of a five-star resort, the Broadbeach Waters property is a family’s dream. The house at 12 Alaska Ave makes a statement from both the street and water. MORE NEWS: Hefty price tag attached to fitness queen’s house Hello outdoor entertaining!More from news02:37International architect Desmond Brooks selling luxury beach villa10 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago It has a price tag of more than $1.995 million.Owners Kylie and Dennis Bastos, who live at the property with their two children Tali, 11, and Luka, 13, moved to the Gold Coast to lap up the sunshine. “Our house has a unique feel about it,” Ms Bastos said. “From the moment you walk in, it has a calm, resort feel about it. “You feel like you’re on holiday.” Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:20Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:20 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreen6 Australian wow homes that have just sold01:20 The four-bedroom house is sprawled across two levels. Ms Bastos said she had many favourite parts of the home, including stone basins that were shipped from Bali. However, the backyard would be hardest to beat. “The clincher is when you walk out to the back area, we have a very wide aspect of the river looking up to Nerang River,” she said. “It’s a beautiful location — sitting out on the back space having a glass of wine, watching the world go past with dolphins in the water. “Plus, we have a lovely private pool area. “On the canal, a lot of the pools are on the water but ours is on the side of the house so we get sun the whole day and its very private.” The family are regretfully selling to relocate back to Melbourne for work. “I just love living here, I pinch myself every winter,” Ms Bastos said. The four-bedroom house is on the market through Christine Tucker of Harcourts Coastal with a $1.995 million price tag. MORE NEWS: First-home buyers have the upper handlast_img read more

DOST, ISAT-U to make ‘hablon’ facemasks

first_imgCurrently, Muyong said they could not determine yet the volume of face masks that they would produce. In a previous interview, DOST-6 director Gelonga said the conversion of yarn into facemasks has a double purpose. Gelonga noted that the yarn being used is made of 100-percent Iloilo cotton, mostly produced from Leon town. He said they are coordinating with community-based weavers in Miag-ao for the yarn to be woven into textiles. “Our target is within the month of June we can produce textiles. Gradually, we can have samples of facemasks. I believe DOST will also be helping us in the production of this through financial support,” he said. The RYPIC, funded by DOST’s Philippine Textile Research Institute (PTRI), is housed inside the Miag-ao campus of ISAT-U. ILOILO City – Facemasks made of hablon fabric woven using locally-produced yarn will soon be made available to the public through a collaboration between the Department of Science and Technology (DOST) Region 6 and the Iloilo Science and Technology University (ISAT-U). Muyong added that amid the coronavirus disease 2019 (COVID-19) pandemic, one of their concerns is how to help the local weavers, hence the project, which would also enable weavers to earn extra income. “We are planning to use the yarn to produce washable facemasks to be distributed to Iloilo. We talk(ed) about it with Director (Rowen) Gelonga and DOST will support financially as well as ISAT- U,” Muyong said. ISAT-U president Dr. Raul F. Muyong said the Regional Yarn Production and Innovation Center (RYPIC) in Miag-ao, Iloilo has “more than enough yarn ready for weaving.” “ISAT-U has a local partner in Iloilo that produces facemasks. We can also tap seamstresses in Miag-ao to help us produce face masks,” he said. “It’s not only livelihood and employment opportunities but actually producing PPE (personal protective equipment) to help our citizenry,” he said. Workers of the center temporarily stopped production during the lockdown but Muyong assured of a sufficient supply of yarn. “We have plans to set our university as an example. We will be the first to use our products of local fabrics out of our RYPIC facility,” he said. (PNA) He added though that the masks would also be sold to offices so the center could earn an income. Yarns produced by the RPYIC are made of 70-percent cotton and 30-percent piña fiber. Apart from facemasks, Muyong received a letter from PTRI director Celia Elumba asking if they can produce faculty uniform and other textile needs of the university out of the yarn that is being processed at the RYPIC.last_img read more

Tiote apologises for derby debacle

first_imgNewcastle midfielder Cheick Tiote has apologised to the club’s fans after suffering the worst day of his career against Sunderland. Saturday’s 3-0 derby defeat at St James’ Park, the second in succession the Magpies have suffered at the hands of their arch-rivals, left the Ivory Coast international on rock bottom. Alan Pardew’s men now face the task of attempting to bounce back at Stamford Bridge at the weekend as they look to complete an unlikely double over Chelsea, and even that would go only some of the way towards saving Tiote’s pain. The 27-year-old said: “All I can say to them [the fans] is sorry for this defeat again because we cannot accept that. “It’s two seasons now we have been beaten by Sunderland at home and this is the worst, worst thing in my career, so I just want to say sorry to them. “That’s football, we need to focus on the next game now.” Newcastle began life without star man Yohan Cabaye – and perhaps more pertinently, without the replacement Pardew had insisted he needed after owner Mike Ashley and director of football Joe Kinnear failed to land either Clement Grenier or Remy Cabella – in depressing fashion. Without the Frenchman’s invention, they created little of note and with leading scorer Loic Remy also missing through suspension, the scraps which did come their way went begging. They fell behind with just 19 minutes gone when Fabio Borini converted a penalty following Vurnon Anita’s trip on Phil Bardsley, and Sunderland never looked back. Adam Johnson’s seventh goal in as many games arrived just four minutes later after goalkeeper Tim Krul could only parry Jack Colback’s deflected shot, and Colback wrapped up the victory 10 minutes from time with another emphatic finish. Supporters already furious at Cabaye’s sale and the lack of transfer activity thereafter were apoplectic by the time the final whistle sounded with one having earlier made his way onto the pitch to berate Pardew at close quarters. The 52-year-old later stoically avoided any criticism of the men above him, but that did little to calm the storm surrounding the club after a third derby defeat in a row for the first time since 1923. Social media sites were awash with condemnation of the regime on Saturday evening with the Mike Ashley Out Campaign – the organisation’s title needs little explanation – urging opponents to unite in a show of force. Pardew, however, was simply concentrating on the task of finding a way to deal with Cabaye’s departure. He said: “It hurts us all. Don’t think because we are not Geordie, it doesn’t hurt us. We know how much it means to our fans. It’s a shocking day for them and a shocking day for us. “Really and truly, we have to go back to basics about how we are going to play because with two key players out – and if you put Colo [skipper Fabricio Coloccini] in that, three – in terms of how we score goals, we are going to have to find a different way.” In the wake of a 2-1 defeat at the Stadium of Light on October 27, the Magpies went on to win in five of their next six Barclays Premier League fixtures, a run which included victories over Chelsea, Tottenham and Manchester United. Asked if they could respond in similar fashion this time around, Pardew said: “The fixtures are a lot tougher, I’d be very surprised if we can do that. “But certainly a reaction, to have a bit more – have the fight, yes, for sure, but have the composure to play, which deserted us today.” Tiote too knows a trip to Chelsea may not represent the ideal opportunity to attempt to repair the damage of a poor, poor day, but he and his team-mates will travel hoping to do just that. He said: “It’s going to be hard, but we have got a chance. We have some good players in the squad, so if we do the right things, we have a chance to win. “It’s going to be tough because Chelsea are a good, good, good, good team. But if we do the right things, we have got a chance to win.” Press Associationlast_img read more

Bielema applauds Evridge, Brinkley

first_imgJEFF SCHORFHEIDE/Herald photoThe Wisconsin football team quickly dug itself into a 14-point hole Saturday against Marshall. Monday, head coach Bret Bielema attributed much of that to his players being overly excited to take on their opponents from Conference USA.“Marshall did some good things and were able to capitalize on it,” Bielema said in his weekly press conference. “We definitely took a life lesson forward. In retrospect, our guys may have been overly hyped up; they really wanted to do well. The very first penalty was Daven Jones on a push after the play. I doubt we’ll have that issue again.”He also sees it as a positive for the future.“What [we] were able to do was not start off on the greatest of terms [on] offense, defense and special teams,” the coach continued. “It reminded me a lot of our game against Illinois two years ago, my first season [as head coach]. We were down 17 points in that game and were able to come back. [Saturday] showed me the same resiliency that they displayed in that game and how that propelled us later into the season that year.”The Badgers did not lose a game following that 2006 victory over the Illini en route to finishing the season 12-1.Game balls go to…Quarterback Allan Evridge’s 308-yard passing performance Saturday was enough for him to receive accolades from his coaching staff, but the other game balls went to some less familiar faces.With two interceptions against Marshall, sophomore cornerback Niles Brinkley split the defensive honor with middle linebacker Jaevery McFadden, who now has 20 total tackles in his first two starts.“I knew he’d be productive,” Bielema said of McFadden. “Your middle linebacker is a guy who you hope has the most tackles, just because he should be in a position to make more plays from sideline to sideline. Jaevery is still working on the finer points of that position, but he is active, he is fast and that allows him to make a lot of plays.”Junior Prince Moody gathered the recognition for his hard work on special teams.“[Prince is] a guy that can really run,” Bielema said of the Columbus, Ohio native. “He plays [cornerback] but hasn’t been able to develop what we need to there, but because of his athletic ability, we felt he could be a good special teams player for us and really was evolving into that last year, but pulled his hammy. He’s been relatively injury-free, and he’s made two big plays (one in each game) in the kicking game on punt coverage [this season].”The fountain of youthIn only two games thus far, nine true freshmen (Brendan Kelly, Brady Ewing, Brad Nortman, Antonio Fenelus, Kevin Claxton, Devin Smith, Kevin Zeitler, Jake Current and Jake Byrne) have seen playing time, seven of whom have started on two or more special teams units. In addition, seven redshirt freshmen (Patrick Butrym, Josh Oglesby, Nick Toon, Mario Goins, John Clay, Philip Welch and Louis Nzegwu) have seen the field.“There is a learning curve we’ve got to go through,” Bielema noted. “But for me as a head coach, we’re a senior-dominated team; we’ve got a lot of seniors playing for us. But the exciting part is, those are 16 guys that are playing for the first time and getting some pretty good reps.”Injury updatesThe Badgers have been without arguably their biggest playmakers on both sides of the ball: senior tight end Travis Beckum and senior outside linebacker Jonathan Casillas. Both seem on the verge of playing Saturday at No. 21 Fresno State.“Travis practiced all yesterday and really felt that he was just a couple days away last week,” Bielema said. “I saw him in the training room [Monday] morning, and he was all excited about the way he felt.”Casillas practiced Sunday and was cleared for full participation for today’s practice.last_img read more

Charles Barkley on Kevin Durant’s injury: ‘They shouldn’t have put that man out there’

first_imgCharles Barkley was disappointed in the Warriors’ decision to let Kevin Durant play in their 106-105 Game 5 win in the NBA Finals.Golden State’s star forward went down with an Achilles injury in the second quarter of Monday night’s contest, and Barkley blames the team and media for pushing him toward a premature return from injury. Speaking on ESPN’s “Get Up” Tuesday, Barkley referenced several articles questioning Durant’s dedication to the Warriors, as some expect him to decline his player option this summer and test the free-agency waters. But ultimately it was Golden State’s decision to clear him. “I blame the Warriors for KD getting hurt and I don’t care what they say about it.”Charles Barkley brought the heat, saying the Warriors shouldn’t have played Kevin Durant in Game 5— Get Up (@GetUpESPN) June 11, 2019″I blame the Warriors for KD getting hurt and I don’t care what they say about it,” Barkley said. “They shouldn’t have put that man out there. You know how I know it? Because he blew out his Achilles.”Durant hadn’t played since Golden State’s Game 5 win over the Rockets in the second round of the playoffs, where he suffered a calf sprain. His Monday appearance marked his first in 32 days. Barkley responded to speculation that the Warriors star might have rushed himself to help his teammates, who were down 3-1 in the championship series. Related News Kawhi Leonard reacts to Kevin Durant’s Injury: ‘I feel bad for him’ Durant was productive during his time on the court, though. He scored 11 points on 3-of-5 shooting in just 12 minutes before exiting the game. His Tuesday MRI should reveal the severity of his injury.”I don’t believe there’s anybody to blame, but I understand this world. If you have to, you can blame me,” Warrirors president of basketball operations Bob Myers told reporters.Game 6 of the NBA will tip off Thursday at 9 p.m. ET at Oracle Arena.center_img “I don’t think you can ever leave it up to a player,” Barkley said. “Players always want to play. But I think if you ask any rational player — Damon (Jones), Jalen Rose, Jay Williams — to put a guy who hadn’t played basketball in over a month into Game 5 of the Finals and have some type of move around the day before, I don’t think that’s fair to that man. And you saw the result.” Knicks trade rumors: Some within organization ‘uncomfortable’ with dealing major assets for Anthony Davislast_img read more

NHL commissioner Gary Bettman outlines new policies, changes following recent abuse allegations

first_imgLastly, the league will set up a hotline for members of an organization to report any inappropriate conduct or abusive behavior from any team personnel — including players, coaches and executives — either anonymously or with attribution. Bettman added that it will be set up similar to the NHL’s Substance Abuse and Behavioral Health hotline.”Not everyone will approve of every coach’s methods. However, there are lines that cannot be crossed — clearly physical abuse and racial and homophobic language cross the line,” Bettman said as part of his closing points. “And while we acknowledge that there may be other actions that could cross the line or fall in a gray area, we hope the program we create and its attendant consciousness-rating will help better define what is and what is not acceptable conduct and will make for a better playing and coaching environment.”Over time, we have been able to change the culture of our game as it relates to substance abuse and player safety. And while we have taken many important steps forward on diversity and inclusiveness, as well as respect and professionalism in hockey, we intend to do more and faster.” “Whether it happened 10 years ago or last week, the answer must be the same — it is unacceptable,” Bettman said of the alleged abuse.”While we may not have known, the fact is that we as a league — on behalf of ourselves, our teams and our players, coaches, organizations and fans — must respond in a clear, meaningful and appropriate manner. Professionalism and respect have always been important to the league, but it is now a particularly important time to discuss it because everyone is entitled to a respectful workplace.”MORE: Akim Aliu excited to see “big change” coming after meeting with Gary BettmanAccording to Bettman, the league “will not tolerate abusive behavior of any kind” while emphasizing the importance of inclusion in today’s game.”Inclusion and diversity are not simply buzzwords, they are foundational principles for the NHL,” Bettman said. “It’s why we initiated the Declaration of Principles and why we invest so much time and effort, along with so many resources into our ‘Learn to Play’ and ‘Hockey is for Everyone’ programs.”Bettman went on to provide an outline as to the NHL’s plan to address the situation, as was discussed with the league’s Board of Governors during a meeting.Moving forward, NHL teams must “immediately [advise]” the NHL office if they “become aware of an incident of conduct involving the NHL personnel on or off the ice that is clearly inappropriate, unlawful or demonstrably abusive, or that may violate the League’s policies.” If this rule is not followed or teams fail to report any inappropriate or abusive conduct, the team and its members “can expect severe discipline.”The release is coming off the heels of the Bill Peters scandal, in which the now-former Calgary Flames head coach was accused of directing racial slurs toward former player Akim Aliu — as reported by Aliu himself — as well as kicking former Hurricanes forward Michal Jordan and punching another player in the head during his tenure in Carolina, an allegation made by Jordan and backed by current Canes coach Rod Brind’Amour.Moving forward, the NHL is also initiating an annual training program, which will be mandatory for all head coaches, minor league coaches, assistant coaches, general managers and assistant GMs. The program will focus on “counseling, consciousness-raising, education and training on diversity and inclusion,” and will be structured by outside professionals, with the help and consolation of the NHLPA and Coaches’ association. “We will focus the programming on training and other exercises and initiatives to ensure respectful locker rooms, training facilities, games and all other hockey-related activities,” Bettman added. “And teach to ensure bystander intervention techniques, anti-harassment-anti-hazing, non-retaliation and anti-bullying best practices.”MORE: Ron Francis says he told Hurricanes about Bill Peters’ alleged abuseIf there is inappropriate conduct by club personnel moving forward, they will be disciplined by team, league or both in a manner that is “severe and appropriate and designed to remedy the situation and ensure that the conduct does not occur again,” as per Bettman. In wake of multiple abuse allegations made against a variety of NHL coaches — including Mike Babcock, Bill Peters and Marc Crawford — the NHL is taking action.League commissioner Gary Bettman announced in a press release on Monday that the league is taking steps to implement changes, new policies and new initiatives in order to address inappropriate conduct and abuse moving forward.last_img read more