Rodolphe Saadé Takes Chairmanship at CMA CGM

first_imgzoom French shipping major CMA CGM has made a new step in group governance as it appointed Rodolphe Saadé to the position of Chairman of the Board and Chief Executive Officer of the company.CMA CGM’s Board of Directors met on November 24 to decide the change in governance of the group. In accordance with the wish of Jacques Saadé and after having reunited the positions of CEO and Chairman of the Board, the board has decided to appoint Rodolphe Saadé to the new position.“To prepare the future, last February 7 I appointed Rodolphe Saadé to the position of Chief Executive Officer. His strategy has delivered very good operational and financial results,” Jacques Saadé said, adding that this is why he has decided “to entrust to Rodolphe the chairmanship of the group in addition to his current responsibilities as CEO.”“My father’s decision is an historic one for our group which became a key global player under his chairmanship,” Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said.“I will pursue with determination the development of our group and strengthen its position as a leader,” he continued.In its third quarter 2017 financial results, CMA CGM said that its consolidated net income reached USD 323 million in the three months ended September 30, up from USD 219 million seen in the prior quarter.During the quarter, volumes carried by CMA CGM experienced a strong growth of 11.6%, compared to the same quarter of 2016, as the company carried close to 5 million containers in the three-month period. The change was mainly driven by the strong growth in volumes carried through OCEAN Alliance, on the Asia-USA and Asia-Europe routes, as well as on most of the North-South and Intraregional routes.The increase in freight rates seen at the beginning of the year continued through the quarter as well, enabling a rise of 14.4% in average revenue per container carried. As a result, revenues in the third quarter of 2017 surged by 27.7% to USD 5.7 billion.In October and November, the group issued a new bond for an amount of 750 million EUR which proceeds will be used for the early redemption of vessel secured debt and the 2019 NOL bond, CMA CGM said.Operating performance for the full year 2017 is expected to show a strong improvement over that of 2016.last_img read more

Just in time for the Bachelorette premiere on May 28 come Canadian

center_img Think of the ways that wine is connected to The Bachelor and Bachelorette franchise: the stars nearly always have a glass of the stuff on hand during dates on the ABC reality shows and fans have been known to imbibe as they watch.Consider the drinking games last season alone: “Quick, take a swig every time Arie Luyendyk, Jr. kisses someone!”Now, for those who like homogeneity in their lives, you can drink a Bachelor-branded wine while watching The Bachelorette when it debuts May 28. LEAVE A REPLY Cancel replyLog in to leave a comment Advertisement Twitterlast_img

Freak show comes to town

first_imgKryder, mysterious and anonymous, with his dwarf sidekick – the classically-trained Dokta Kaotika – and a circus freak show entourage is all set to hit the city on Saturday at Kitty Su. Kyoas Entertainment brings this out-of-the-box producer to the Capital to give the party people a taste of the epic Miami monster anthem. Tiesto signed Kryder’s track (K2) to his Musical Freedom label and played it consistently in his sets during his North American tour. Also Read – ‘Playing Jojo was emotionally exhausting’K2 was successfully promoted during the Miami Winter Music Conference, receiving massive support from the likes of Swedish House Mafia, as one of the key WMC tracks. Kryder has a deep, underground edge; progressive house overlaid with trance chords. Millennium Post caught up with the man himself before he gets busy. Here are excerpts from the conversation…When did you start with this career? Tell us about yourself!It started a long time ago as a hobby and with a genuine passion for dance music, I then took to DJing when I was 12 , landing my first residency when I was 15 ! At 17 I took a diploma in music tech in London, At 20 years old I moved to Ibiza for a season. I’ve been involved in dance music most of my life. Also Read – Leslie doing new comedy special with NetflixHow has the journey been? Tell us about the best and the worst times so far.Best times are obviously getting to travel around the world and do something I love, meeting new people , playing to amazing crowds , worst times are not  experiencing it without the people you love.How do you like the music scene in India?This will be my first time in India so its hard for me to comment on that but I’ve heard great things !What songs top your own playlist right now? Define your music philosophy for us. I really like high energy house music I’m currently hammering my new track Aphrodite which is coming out soon on Axwells Axtone Records, plus a remix on a track called H8rs made with Tom Staar which will be out soon on size records, It always goes down well.How has the party music scene changed from the time you started?It’s got a lot bigger maybe that’s because I’m seeing it in different countries now but it’s also gone full circle it started off very underground in warehouses , then moved into big clubs and festivals and now people are throwing warehouse parties again !Do you see a change in the music trend across the world? After EDM what do you think is going to be the next big thing in music?Let me look into my crystal balls….. haa hopefully the whole EDM explosion will open up the doors for people to explore more underground and up coming artists and support smaller independent record labels.Is this the first time you are performing here in India? What are you expecting from the crowds?Yes this is my first time and I’m really looking forward to it, a few of my friends have played in India and have only said great things about the scene over there, so I’m very excited.last_img read more

New York Regulator Lays Out Tweaks to Bitcoin Rules

first_img Listen Now This story originally appeared on Reuters Hear from business owners and CEOs who went through a crippling business problem and came out the other side bigger and stronger. Problem Solvers with Jason Feifer New York state plans to soften proposed rules for virtual currencies such as bitcoin, its banking regulator said on Thursday, after receiving a round of public comments.Start-up companies dealing in the budding technology could get a two-year partial waiver from complying with the full set of rules to help them continue their business, New York Superintendent of Financial Services Ben Lawsky said.The revised rules for obtaining the so-called BitLicense, which will be posted for a new round of comments in the coming days, would reduce the record-keeping requirements to seven years from 10 in the original proposal.Companies applying for a license also could count virtual currencies toward their capital requirements, Lawsky said.The new rules would not apply to software developers, individual users, customer loyalty programs and gift cards, currency miners, nor to merchants accepting it as a payment, Lawsky said in a speech in Washington.Unlike conventional money, bitcoin is independent of control or backing by any government – something its advocates like but that has also led to calls for more oversight and raised questions as to how to treat it for tax purposes.Bitcoin started circulating in 2009 and is accepted as payment by a small but increasing number of companies. Huge swings in its value and incidents where clients lost millions of dollars have hurt its reputation.(Reporting by Douwe Miedema; Editing by Bill Trott) 2 min read December 18, 2014last_img read more