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An Upper Mesozoic island-arc–back-arc system in the southern Andes and South Georgia

first_imgThe Upper Jurassic–Lower Cretaceous strato-tectonic belts of the southern Andes and South Georgia, 2000 km apart, can be correlated and explained as the products of an island-arc–back-arc system. From the Pacific Ocean to the Atlantic, these belts, which exhibit structural and metamorphic differences, are: (1) a pyroclastic belt developed on an ensialic volcanic arc; (2) a back-arc flysch sequence underlain in the southern Andes by a basic complex with oceanic affinities; this was intruded into continental crust as a result of sea-floor spreading which created a marginal basin; (3) a slate sequence deposited on a continental shelf. The pyroclastic and marginal basin belts and the adjacent part of the continental shelf were folded and uplifted during the early Upper Cretaceous, whereas the foreland part of the continental shelf assemblage underwent deformation during the early Tertiary.last_img read more

Residents snapping up next stage in $200 million coast development

first_imgDawn at Vantage Gold CoastThey’ve dipped their toe in the water at Vantage and decided they love it but would like a larger apartment now that they have been made available in Dawn,” Mr Litfin said.“The other early buyers in Dawn are those who missed out on the three previous releases and have keenly awaited this next stage of Vantage.”Many of the apartments in the 15-level Dawn will capture spectacular views east across the neighbouring Royal Pines Resort to the Gold Coast skyline beyond. Other apartments in the development have views over the Vantage parkland setting, the Royal Pines golf course and the hinterland. Vantage Gold CoastMore from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours agoDeveloper Rayjon brought forward the release following the sellout of the initial three buildings — Dusk, Eve and Scape — and the 100 per cent settlement of sales in Dusk and Eve.Dawn’s two-bedroom apartments will range in size from 119sq m to 145sq m asking $495,000 for 130sq m, while the three-bedroom residences will span between 183sq m and 221sq m, asking $945,000 for 183sq m.Each apartment will have large format tiled flooring in the living area, European appliances, ducted air conditioning and two car parking spaces, with three-bedroom apartments being offered with timber flooring.Dawn residents will also have exclusive access to a residents’ lounge on Level Two, and many will have their own storage area in the basement.Mr Litfin said the dominant buyer profile was downsizing owner-occupiers from across the Gold Coast. The next stage of Vantage Gold Coast, Dawn, has just launched to the market offering even more spacious apartments as part of its $200 million masterplanned community.THE first three releases were a sellout, so it’s no surprise that the fourth building in this $200 million masterplanned community is already being snapped up, and by existing residents. Vantage Gold Coast, a masterplanned parkland community at Benowa is offering 113 two and three-bedroom apartments in the east-facing Dawn building, with six already gone to early bird buyers.Knight Frank Queensland head of project marketing Chris Litfin said several existing Vantage residents had decided to purchase in Dawn to secure the larger apartment format.center_img Vantage Gold Coast“They are attracted to Vantage’s spacious and thoughtfully designed apartments, the superb array of leisure facilities already in place and the convenient, central location at Benowa,” he said.Mr Litfin said Vantage’s ongoing sales success reflected recent Urbis research revealing the rise of coastal fringe suburbs such as Benowa as apartment hot spots on the Gold Coast.“These are areas that offer luxury apartment living within easy reach of the beach but at a more affordable price point,” he said.“We’ve experienced even more market traction since the completion of the neighbouring shopping centre, which includes a Coles supermarket, restaurants, cafes, specialty shops and services.”Vantage is set amid a two-hectare oasis featuring a swimming pool, gym, barbecue decks, resident lounge and intimate breakout areas.When complete, more than 70 per cent of Vantage’s Ross Street site will be dedicated to open space.last_img read more

Swiss collective pensions vehicles get green light for equities boost

first_imgSwiss collective pension investment foundations (IFs) – Anlagestiftungen or fondations d’investissement – will in future be allowed to hold more than 50% of their assets in equities given the low-interest rate environment, according to a new draft law.Pension funds are also to be given more say in board decision-making at the foundations.Under current regulations, IFs offering mixed portfolios have to keep their equity allocation below 50% and are also restricted in diversifying into alternative asset classes.A new legal draft put forward by the Swiss federal government for consultation is now set to change this. The changes to the law governing the foundations – the ASV (Anlagestiftungsverordnung) – would allow them to have an equity weighting of more than 50% and also raise the cap on alternative assets to 25%.The federal government said these steps had become necessary in the current market environment.“The low interest rate environment has led to greater demand for investment vehicles with higher equity allocations, for example in the 1e plans,” Joseph Steiger, deputy divisional head for occupational pensions at the Federal Social Security Office (BSV), told IPE.“With the planned new regulation Anlagestiftungen can better serve these demands,” he added.Other proposals include allowing direct investments in alternative assets.In a statement, the BSV said that changes to the legal framework would help IFs compete with fund providers.The Anlagestiftung association KGAST welcomed the proposals, saying in a preliminary statement on the legal draft that changes had been long overdue and a problem since the law was passed back in 2012.“It has always been incomprehensible why Anlagestiftungen,which are operating for Pensionskassen, are disadvantaged in their investment options compared to their own investors – most of this will now be amended,” KGAST said.The association promised a more detailed assessment as part of the consultation phase, which ends on 14 December.Another major area of regulatory overhaul for the foundations is governance, with pension funds set to be given more say in the decision-making process.Steiger noted: “The aim is to strengthen the position of investors in general.”He said there were no particular cases which had triggered these amendments.“But the new regulation can help with clarifications in case of conflicts”, he said.Investment foundations – vehicles in which Pensionskassen pool their assets to invest in certain funds or direct investments – have exisited since the 1960s, but it was only in 2012 that a unified legal framework for these vehicles was created.Demand had increased in recent years, especially for real assets.Some focus on single asset classes such as real estate or infrastructure, while others offer mixed portfolios.last_img read more

Toure calls for stronger punishment after alleged racial abuse in Champions League tie

first_imgYaya Toure was “furious” after suffering alleged racial abuse during Manchester City’s Champions League win at CSKA Moscow and called for strong action.The City midfielder suggested lengthy stadium bans should be imposed after he was the target of apparent monkey chanting from “stupid” supporters in City’s 2-1 win at the Arena Khimki.It is not the first time he has experienced such vitriol as he and – primarily – Mario Balotelli were targeted during a Europa League game at Porto in February 2012.Porto were fined £16,700 by European governing body UEFA after that incidence – less than the £24,740 City had to pay for delaying the second-half kick-off by one minute – and Toure believes tougher sanctions are necessary.The Ivory Coast international, who complained to the referee about the issue during the match, said: “I’m not just disappointed, I’m furious.”I’m very, very disappointed about what those fans have done and I think UEFA has to take action because players with the same colour of skin will always be in the same position. “For me, as captain, I was wearing an armband which said ‘no to racism’ and I was totally disappointed.”Maybe they could ban the stadium, I don’t know, for a couple of years or a couple of months.”It’s stupid these people. I don’t know, it just happens in football. It’s unbelievable.”They’re stupid, they’re just stupid. UEFA has to take action to right it otherwise I think they will just continue.”City have confirmed they will make an official complaint to UEFA over the matter. A club representative spoke to the match delegate from European football’s governing body after the game and that action will be followed up with a written submission.The issue also raises concerns about racism ahead of the 2018 World Cup, which will be hosted in Russia.FIFA vice-president Jim Boyce called on Russian authorities to clamp down on racism.Boyce told BBC Radio Five Live: “The Russian federation has got to assure – along with the Russian government – that these incidents are put to bed because it’s happening too often.”Too much abuse has been happening in many, many parts of eastern Europe. “Eastern Europe has problems, but we have problems in other parts of the world as well.”It’s got to be eradicated and the only way is to take serious action against the people who do it – don’t allow them to watch football matches.”I’ve always said fining clubs is not a solution to this problem.”A lot of the clubs take every step they can – they can’t stop some of these idiots.”Piara Powar, executive director of the FARE Network (Football Against Racism in Europe), believes UEFA has been moving in the right direction on such matters. He said: “UEFA have changed their rules and already this season sanctions are harder than ever before.”For a first offence you face a partial stadium closure; for a second offence your stadium will be closed for a match.”It’s taken a long time to get here, but I think we are seeing some movement on the sanction side.”In terms of education, I don’t know how long that’s going to take, to educate fans like we’ve seen at CSKA.”last_img read more

FIFA set for the first stadium inspection in Russia

first_imgA joint delegation made up of FIFA and Russia 2018 LOC representatives will hold its first official inspection visit to the 2018 FIFA World Cup™ stadiums on 16-23 October.The trip will see the delegation visiting stadia in St. Petersburg, Kazan, Sochi and Moscow, in addition to going over the projects and plans in place for the construction of the remaining 2018 FIFA World Cup venues.The joint delegation includes 40 experts from FIFA, LOC, and Arena-2018 in the areas of designing and building stadia, preparing and operating competitions, security, transport, logistics, hospitality services, broadcasting, media operations, medical control, staff performance, and marketing and ticketing programs.“Running the first joint inspection of the 2018 FIFA World Cup stadia is a crucial milestone marking the transition from the design phase to operational stage of preparations for the tournament,” noted Alexey Sorokin, CEO of the Russia 2018 LOC.“The primary goal for inspection at this stage is to receive first-hand information on how design and construction is going for the 2018 FIFA World Cup stadia. That will enable FIFA, the LOC and Arena-2018 experts to report back to representatives of the host cities with their own comments on how to optimize the work going on so as to meet all FIFA requirements.”last_img read more