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(E) Nada Khodlova and Public Urban Ritual Experiment
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Among performers is also second generation Croatian, NADA KHODLOVA. PURE generously contributes to many not-for-profit groups with their performance. Sunday July 17 2005: Simultaneous Performances in 7 U.S. Cities Processions in 7 US Cities on the anniversary of when PURE first went public in 2004. A group of 32 dancers and musicians known as PURE (Public Urban Ritual Experiment) will process through the streets of lower Manhattan on Sunday July 17th as part of an event that involves simultaneous performances in 7 U.S. cities including Chicago, Detroit, Dallas, Houston, Lafayette-IN, Traverse City, MI. How it began ... PURE was founded in New York one year ago by a group of dancers and musicians committed to promoting community and peace through publicly sharing their art outside of traditional performance venues. PURE's commitment to community is also reflected by the diversity of its dancers (who are all women) and its musicians (both men and women). The group is made up of a mix of professional and amateur performers of all ages, races, and sizes, with varied backgrounds and experience, who have come together united by a common goal. After the group's debut on July 17, 2004, people around the U.S. and the world were inspired by the power of PURE's message. Multiple PURE branches have started up around the U.S. over the past year and interest continues to grow. On July 17th all the national branches will dance simultaneously with the New York PURE branch in their home cities. The New York PURE route traces through lower Manhattan on Sunday, July 17th from 3 p.m. to 5 p.m. starting at the East Coast Memorial in Battery Park and ending at City Hall. The event will feature a procession of dancing and drumming as well as a series of site specific choreographies. The group will visit a series of sites in downtown Manhattan that are significant to the early development of New York City as well as its history of immigration and cultural diversity. These sites will include the National Museum of the American Indian, the World Trade Center site, City Hall Park, and several locations in Battery Park between the East Coast Memorial to WWI & WWII veterans and the Irish Hunger Memorial. Visit www.puredance.org for exact route information for all the branches... The theme of cultural diversity is central to PURE's mission. Kaeshi Chai, professional dancer and PURE facilitator, explains, "Throughout the ages and across cultures, dance and music have drawn people together both spiritually and physically. In our own city, PURE participants aim to bring attention to the power of community through ancient traditions of dance and ritual. The fluid blending of Middle Eastern, Chinese, Romani (Gypsy), Israeli Folk, Flamenco and Indian dance movements in our choreographies is representative of the world solidarity we seek to affirm in the PURE experience." The history of New York City as a haven and meeting place for immigrants from around the world is an important example of cultural tolerance. The city has also been the site of much cultural misunderstanding and violence, most tragically displayed on September 11, 2001. PURE hopes to remind spectators of this rich history and the responsibilities that go along with it. "We want to inspire individuals to take a moment and reflect on what they can do or give in the spirit of peace," says PURE percussionist and musical director Brad MacDonald. "In the long run, each small gesture contributes to the strength and solidarity we all hope for in our local and global communities."
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(E) Doors Art Presents Zana Markelson July 28, New York
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(E) 39th International Folklore Festival, Zagreb, July 20-24, 2005
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A POSTCARD FROM ZAGREB IN JULY: WORLD AT PALM
39th International Folklore Festival, Zagreb, July 20-24, 2005 Springtime Customs in North-Eastern Croatia and its' Parallels / Queens and Related Customs
ZAGREB, Croatia; July 2005 – In only few days, beginning July 20th , the Croatian capital Zagreb will become lively again in sounds, colors and richer in forms cultivated in traditional customs all over the world. A postcard from Zagreb in July reads – variety, perception saturated with archetypes and symbols speaking through unbiased experience of folk arts – and ever so since 1966, the year of the first International Folklore Festival in Zagreb.
Nearing it’s 40th anniversary next year, IFF in Zagreb expects over thousand programme participants from all over the country and the world. While there is 29 Croatian ensembles and solo performances, the rest of the world is very well represented by 18 performances of folk dance and music, so different as those from Sweden and Oman, Russia and Egipt, Ireland and Turkey, Check Republic, Bulgaria, Italy, Latvia, Hungary, Macedonia, Romania, Spain and closer connected to Croatian customs, Bosnia and Hercegovina. And all that all over the city, in the representative old town squares, palaces and churches, as well as on the grand stage on the main city square, Trg Bana Jelačića.
The main theme this year is Springtime Customs in North-Eastern Croatia (Slavonija, Srijem, Baranja) and its' Parallels. It brings into the focus some most peculiar of customary springtime processions and rituals: The Walk of Queens, quite distinctive for the region, but not without parallels in other parts of Croatia and some other neighboring countries (especially among Croats in Vojvodina, Hungary and Posavina in northern Bosnia). The scientific research also found some corresponding examples in folk tradition of Check Republic, Bulgaria, Macedonia and Romania, and they are included in to make a picture more complete.
The custom itself has ancient origins, and is pointing to almost magic, pre-Christian meaning, but remained in practice until recently, around Christian holydays in Spring (Cvjetnica – Spasovo – Duhovi). In the mid 20th century and through the 21st, it was conserved and stylized, then purified and renewed in the work of local folklore ensembles. The figures of Queens are beautiful, decorated with cultures of vegetation, flowers, feathers, in some cases even golden coins «dukati». And they carry swords, or sables, or wooden counterparts of it - but, not for fighting, most probably to show the power and victory of renewal and fertility. Sometimes, there are also women in the walk, called Kings; in some localities they were found differently decorated, but somewhere they are looking just the same as Queens. No strong argument for now, why is that so.
Other interesting and attractive programs show different themes.
World music concert and club sessions – The Sounds and Echoes of Ireland – featuring Éamon de Barra (Ireland), The Flooks (UK), The Skelligs, The Slip, Ciotóg, Belfast Food (Croatia), followed by workshops on Irish music and traditional instruments;
Church folk singing: To Patron Saints in Slavonia, Women and Croatian Traditional Music, Review of Šokci’s folk costumes, dance workshop “Sheikhat, the professional dancers of Morocco�, and workshop of great tradition and popularity among visitors, Dance With Us.
Scientific research and a lot of work on the terrain of the experts of the Institute of Ethnology and Folklore in Zagreb, is always in the background of the IFF, thus providing some difference from other great folk festival in Croatia. As the Artistic director, Zorica Vitez, PhD., stressed last year at the press conference, the perception of the folklore is rapidly changing , and this Festival strives to meet the point. So, in this time, it is not the procession of “Radićevciâ€? in folk costumes as it once used to be, and not without sense, but rather a meeting point of different cultures, somewhere in the middle of the road, here in Croatia. The audience is always confronted with some new element in “the old thingâ€? with the purpose to bring forth fresh evidence in dynamic multicultural sphere.
That is one more reason for the audience in Zagreb to remain faithful and very interactive leaving no doubts that - if the weather hopefully won’t make pranks - any tourist in Zagreb in July is welcome in the atmosphere of good amusement and joyous impressions. (I.Stipetic)
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(E) Andronico Luksic Man of summits
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Andronico Luksic Manof summits 
Andronico Luksic, chairman of this year's APEC CEO Summit, talks to Ruth Bradleyabout conquering mountains - in business and in life
May 2005 For Chilean businessman Andronico Luksic, summits are very much on the agenda this year. In May, satisfying along-standing ambition as a mountaineer, he stood at the summit of Mount Everest. Thismonth, in what promises to be one of the crowning glories of a successful business career, he will chair the APECCEO Summit in Santiago. And, to top off the year, he plans to tackle yet another summit nextmonth - Mount Vinson in the Antarctic. Luksic is not a typical Chilean businessman. While many of his colleagues sport MBAsfrom prestigious US universities, Luksic unassumingly admits to being a 'collegedropout'. And, despite chairing Banco de Chile, Chile's largest locally-owned bank, he is a fundamentally shy man,who prefers a low profile and rarely gives interviews. But he commands an enormous respect that has itsroots partly in his perseverance - the quality that helps him to conquer summits.The history of the Luksic family conglomerate which, as well as financial services, includesimportant stakes in Chile's mining and manufacturing industries, dates back to the beginningof the last century when Luksic's paternal grandfather emigrated from his nativeCroatia. After working in Chile's flourishing nitrates industry, he built up aprofitable niche importing cattle from Argentina to feed the saltpeter miners - and latercopper miners - of northern Chile's arid Atacama desert. Despite its success in Chile, however, the family has not forgotten its roots andalso has important investments in Croatia. As well as being a major player in thecountry's hotel industry, it also controls a leading tour operator. In addition, the Luksic group has some important business ties with Asia. Three Japanesecompanies - Mitsubishi, Sumitomo and Nippon Mining - are partners in its Los Pelambrescopper mine in northern Chile. And, in the 1980s, the group's Madeco copper manufacturer was the first Chileancompany - and possibly the first in Latin America - to invest in China when,along with Codelco, Chile's state copper company, it formed a joint venture with the municipalityof Beijing to build a plant to produce copper piping for use in the construction industry. Asia Inc: What do you see as the main importance of the CEO Summit from Chile'spoint of view? Andronico Luksic: Chile's presidency of APEC 2004 and the CEO Summit are an opportunityfor business and political leaders to get to know a part of the world that's not easyto reach and that they don't normally visit. And that includes not only Chile, butalso the rest of South America. Business people from Asia will be able to become better acquainted with Chile, itseconomy, its institutions and its people, in a direct and palpable way. And that'simportant because Chile can serve as a two-way platform for goods to and from Asia,not just to Chile, with its 15 million inhabitants, but also to much larger economies, like Argentina and Brazil. And,of course, most importantly, it will encourage businesses from other APEC economiesto invest in Chile and form partnerships with local businesses. That is, after all, themost profound expression of economic integration within the Asia-Pacific region.
What have been the main challengesof organising the Summit? Although it's certainly the most important business meeting that Chile has ever organised, it's been facilitated by our country's international experience and its organisational capacity. We have a committee in which I am joined by Juan Claro, chairmanof Chile's Confederation of Industry and Trade; Hernán Somerville, this year's chairmanof the APEC Business Advisory Council (ABAC); and Juan Villarzú, executive presidentof Codelco. In addition, there's an operational committee and an executive secretariat that help implementdecisions regarding the programme and logistical matters.The main challenges have beento obtain the human and financial resources required for this important Summit andto ensure the presence of the top-level business executives and political leaders we've invitedfrom around the Pacific Basin. However, I must say we've had a very good response.
What issues is the Summitgoing to focus on? We plan to concentrate on four or five main issues, and to be really productive on them: the safetyof international trade; transparency and corporate governance; human resources as the keyto competitiveness; economic reform processes; and the digital gap and its impacton the competitiveness of companies and of our respective economies.The Summit starts on Friday, Nov 19, with a luncheon at the CasaPiedra conventioncentre, where the entire meeting will take place. During lunch, the opening speech will be given by Erik Weihenmayer, the athlete andmountaineer who, although blind, climbed to the summit of Mount Everest. Over the course of the event, we also hope to be able to listen to addresses from PresidentGeorge W Bush, President Ricardo Lagos, President Hu Jintao, Prime MinisterJunichiro Koizumi, President Vladimir Putin, President Luiz Inácio Lula da Silva andformer Secretary of the US Treasury Robert E Rubin, as well as allowing time forquestions and answers, and debate.Finally, it will be my responsibility to close the Summit and introduce the chairmanof the APEC CEO Summit 2005, which will take place in Seoul.
What do business people travellingto Chile for the Summit stand to gain? The CEO Summit always produces some very interesting networking and, this year, given thatso many people will be travelling from so far, we're trying to maximise opportunitiesfor making contact not only with Chileans, but also with colleagues from other partsof the region. That's why we've invited people from, for example, Brazil, Argentina, and Venezuela -countries that aren't necessarily members of APEC but which make us, as a continent, muchmore interesting to Asian businesses. And we've organised parallel programmesboth before and after the Summit for different leisure, cultural and tourist activities. Ialso have the impression that most of our guests are going to take the opportunityto visit two or three other countries. You're also one of Chile's representatives in ABAC, which set anambitious agenda for this year in terms of increasing its effectiveness. How has that playedout?ABAC has worked very well this year under the chairmanship of Hernán Somerville. It hasintroduced numerous procedural reforms that make it more efficient. It has energeticallypromoted the issue of liberalising trade through the Doha talks in the frameworkof the World Trade Organization. This is, without doubt, the most important issueof the year for APEC and the global economy. We've also given priority to analysing free trade agreements between APEC membereconomies, the issue of safe trade, the facilitation of trade, and the use of English as the languageof business.It's also important to point out that, in the execution of ABAC's agenda, we havedeveloped a valuable and fluid relationship with the public sector. This relationship isalso part of the success of ABAC 2004. We have ready communication with RicardoLagos, chairman of APEC Senior Officials' Meetings, with Ambassador Milenko Skoknic, executivedirector of APEC Chile 2004, and with Ambassador Adolfo CarafÃ, director of the Asia-PacificDivision of Chile's Ministry of Foreign Affairs. We have transmitted to all of them, inour own language, the opinions that business people have about the agenda and other aspectsof the APEC process. Through your role in the CEO Summit and ABAC, you've travelled extensively, promoting Chile. What has thisshown you about Chile's international image? Chile has an excellent image in the eyes of the business people and authorities of the Asia-Pacificregion. It's seen as a serious and stable country that's good at fulfilling its undertakings. Theenormous effort that the Chilean business sector has put into globalisation isalso admired abroad. That means a great opportunity for Chile to develop as aplatform from which many opportunities geared to business in other Latin Americancountries may arise.As a Chilean businessman, what do you see as the main challenges facing the country asgrowth rebounds? Its main challenges are to reduce its international vulnerability and to maintain the high and stablegrowth that reduces social and educational deficiencies and, particularly, poverty.And specifically for the banking sector in which you're involved as president of Banco de Chile? The banking sector has made an enormous effort in terms of global competitiveness andproviding high-standard, low-cost services for its domestic and internationalcustomers. The banking industry is one of the ‘great assets' of the Chileaneconomy and its image is optimum, as is shown by the low spreads it pays for overseasresources.As a family group, what do you see as the most interesting opportunities for futureexpansion in Chile and internationally? Our investments in Croatia may have theirroot in family ties, but they're also very profitable and important. In Chile,our idea is to consolidate in the sectors in which we already operate - mining,copper manufacturing, beverages and banking - rather than diversifying. There aresome very significant opportunities in mining.
You recently climbed Everest. What was that like as a challenge? The physical and psychological preparation was very tough. And there's a point in thepreparation that's really important - forming a team. That's about being ableto face difficult moments together, without ever losing sight of the objective. That's why, during a littleover a year, we climbed various peaks of more than 6,000m in the Andes to test notonly our physical shape, but also to consolidate the team that was to face the challengeof Everest.
You've probably been asked this question a thousand times, but what did it feel liketo conquer Everest? I must say that, when I reached the summit, I shed more than a few tears; it was a reallyemotional moment and I felt deep gratitude to God and to the team that had made itpossible. I remember that all my family was in the United States celebrating thegraduation of my eldest son and the birthdays of two of my other children; I wasn't there, but they were with me and that's what was reallyimportant. I also remember thinking that my presence there showed that dreams arenot just dreams, but the starting point of a project, and that with a great dealof work, enthusiasm and perseverance, they can become reality. I would like toknow that many others feel the same way. At 50, I firmly believe that there'sno age limit on new challenges and rising to them; there's no age limit on new dreams. Isuppose what remains from that adventure is the lesson that those who do not follow their dreamsonly sleep through life.
So what's the bigger challenge: Everestor the CEO Summit? The CEO Summit. As chairman, it's not only my reputation that's at stake, but thereputation of my country and its business people; that's why it's so importantto achieve a really excellent event. If I hadn't made it to the summit of Everest, theworst that would have happened was that a few friends would have laughed at me. If theCEO Summit doesn't do well, it's the country that suffers; but if I do well there, it's a triumphfor all of us who organised it. It's a different type of responsibility and Ialso feel that it's not only on behalf of Chile, but also of South America.
After the CEO Summit, what are the next summitson your personal agenda? In the short term, I'd like to conquer the highest summit of each continent or, inother words, to complete the seven-summit circuit. I've already climbed Aconcagua inSouth America, Kilimanjaro in Africa, and Everest in Asia. And later this year, I'mgoing to make a second attempt at the Vinson Massif in the Antarctic. I was there in 2003, but we were beaten by bad weather. That's the list but,more importantly, I'd like to stress that I have a very serious interest in mountaineering and that,more than a sport, it's simply a way of life.
http://www.asia-inc.com/May05/APEC_man_may.htm
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(H) Opci sabor 15,16,17 Rujna u Zagrebu
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Opci sabor 15,16,17 Rujna u Zagrebu Broj: 01-37/05. Porec,7.srpnaj 2005. godine.
Dr Ante Lausic
POZIVAMO VAS NA OPCI SABOR DOMOVINSKIH I IZVAN DOMOVINSKIH PRIPADNIKA HRVATSKOG NARODA Koji ce se odrzati dana 15,16 i 17. rujna 2005. godine u Sabornici Republike Hrvatske, Trg Svetog Marka broj 6. u Zagrebu sa pocetkom u 11.oo sati. Tijekom trodnevnog rada predvidjeno je da se obrade slijedece teme:
1. Analiza postojeceg gospodarskog i politickog stanja u Hrvatskoj :
2. Odnos Domovinske i Iseljene Hrvatske te aktivnije ukljucivanje iseljenistva u gospodarske, financijske, znanstvene i dr. tokove u zemlji;
3. Hrvatska i europske integracije te moguci utjecaj hrvatskog iseljenistva na poboljsanje postojeceg polozaja kroz utjecaj u drzavama gdje zive i rade;
4. Odbori Hrvatskog Svjetskog Sabora (organizacija, formiranje, ukljucivanje i dr.)
5. Ostvarivanje punog zajednistva Domovinske i Iseljene Hrvatske, rasclamba postojeceg stanja te problem i nacini prevladavanja istih
Postovani!
Svjesni svoje uloge I vlastite odgovornosti u procesu priblizavanja domovinske i iseljenje Hrvatske, Hrvatski Svjetski Sabor organizira ovaj skup sa zeljom da se na njemu, na jedan konstruktivan i nadasve domoljuban nacin otvoreno progovori o problemima u drustvu i zajednici, te ujedno iznadju i predloze rjesenja koja bi omogucila da jedinu nam domovinu Hrvatsku izgradjujemo kao pravnu, socijalnu i pravednu drzavu, u kojoj ce Hrvati izvan hrvatske imati znacajno mjesto kao integralni dio Hrvatskog nacionalnog bica. Organiziranje Opceg Sabora, s druge strane, potaknuto je i nepovoljnim tendencijama u hrvatskom drustvu i gospodarstvu koje ozbiljno prijete da ogranice ili dovedu u pitanje nacionalni suverenitet. Na ova goruca pitanja aktualna vlast i oporba ne pruzaju dovoljno kvalitetna rjesenja te je stoga hrvatsko iseljenistvo pozvano da usmjeri ovaj “brod� u mirnije vode i luke, odredi smjernice kojim drustvo i drzava u narednom periodu treba ici rukovodeci se cinjenicom da ziveci u uredjenim drzavama zapadne demokracije upravo Iseljnistvo spoznaje vrijednosti pojedinih institute, te mogucnosti njihove primjene na hrvatsku zbilju danas. Za razliku od drugih skupova i organzacija, Hrvatski Svjetski Sabor posebno istice svoju apoliticnost, smatrajuci da u suvremenim drustvima (al i u zemljama u tkz. tranzicijama kao sto je nasa) nema mjesta nikakvim podjelama, a posebice ne onima na politickoj osnovi. Volja i zelja da se doprinese ocuvanji i boljitku jedine nam domovine Hrvatske, upucuje nas na potrebe zajednistva i to kako u domovini, tako i u iseljenistvu. Stoga, na Opci Sabor su pozvani, i rado vidjeni, svi oni kojima je domovina u srcu i smatraju svojom nacionalnom, moralnom i ljudskom obvezom da pripomognu domovini u ovometrenutku. Ukoliko ste i na trenutak dvojili, odbacite sve sumnje i predrasude i prikljucite nam se, jer samo tako moci cemo ostvariti ono isto zajednistvo koje nas je krasilo u vrijeme domovinskog rata kada je Domovinska i Iseljena Hrvatska znala odgovoriti na svoju povjesnu odgovornost. Tada, kad je kao Feniks, iz pepela, nikla najljepsa drzava na svijetu, domovina Hrvatska.
Hrvatski Svjetski Sabor nije vladina, ni politicka organizacija. Glavna odrednica ove organizacije koja povezuje Domovinsku i Iseljenu Hrvatsku je “Izgradjujmo mostove izmedju nasih obala, stvorimo preduvjete da konacno postanemo jedno i da se dozivljavamo kao braca, a ne kao stranci�. Hrvatska proslost, ali i njena sadasnjost, puna je podjela. Neki u tim podjelama vide svoje interese, ali mi ih drzimo tragicnim i nepotrebnim. Moramo stvoriti kriticnu masu, i to kako brojcanu, tako i intelektualnu, koja ce jasno reci da svi oni koji na bilo koji nacin umjetno ili stvarno stvaraju podjele u hrvatskom nacionalnom bicu definitivno pripadaju proslosti.
Stoga, ukoliko su ove smjernice, i ovi stavovi, podudarni vasima, na istoj smo strani i na istome zadatku.
S posebnim zadovoljstvom napominjemo da je Hrvatski Svjetski Sabor svoju aktivnost, po prethodno naznacenim smjernicama, organizirao kroz rad svojih Odbora na cijem se celu nalaze ugledni znanstvenici, domoljubi, intelektualci raznih djelatnosti. Upravo su oni doprinijeli da se sve vise ljudi ukljucuje u njihov rad, pokazujuci time da su ti vidovi organizacije i djelovanja neophodno potrebni da se, preko njih, ostvaruje zajednistvo na svim poljima. Vise o Odborima mozete vidjeti na web stranici www.hssd.hr
Prethodno smo naveli kako je Hrvatski Svjetski Sabor nevladina udruge, pa se stime u svezi u svome radu ne oslanja na drzavne financije, vec prvenstveno na vlastite snage, entuziazam clanova i sl. To je i razlog sto Hrvatski Svjetski Sabor nije u mogucnosti financijski snositi troskove onih kojih se odluce sudjelovati na skupu, pa ce isti troskove svog boravka - snose sami. Visina kotizacije, s druge strane, nije odredjena, niti obavezna, vec je to osobna stvar pojedinaca.
Svoje diskusije, kao pismene predloske, dostavljaju se na adresu: Hrvatski Svjetski Sabor – Porec, ul. V. Gortana 2. ili na mail: hssd@hssd.hr najkasnije do 15. kolovoza 2005. god., a glede publiciranja materijala bilo bi pozeljno da isti budu dostavljeni pored hrvatskog i na engleskom jeziku.
Glede ogranicenosti kapaciteta prostorija gdje ce se skup odrzavati, molim vas da se o nazocnosti na ovom skupu odredite do 10. kolovoza 2005. godine i o tome nas izvjestite na mail ili na telefon 00385-52-431-575, 427-057, 431-427 Fax. 00 385 52 434006 Radujemo se Vasem dolasku, www.hssd.hr
KOORDINATOR: Niko Soljak, prof. ing.
PRIJAVA
Kojom _________________________ rodjen/a _________ u __________ Potvrdjujem svoj dolazak na OPCI HRVATSKI SABOR koji ce se odrzati dana 17. 18. i 19. rujna 2005. godine u Zagrebu. E-mail: ___________________ Tel: ______________________ Fax: _____________________
Tema koja me najvise interesira: _______________________________________________________ _______________________________________________________ ________________________________________________________ Potpis: _______________
Molimo Vas da nakon potpisa, navedenu izjavu vratite na adresu: Hrvatski Svjetski Sabor Vl. Gortana 2 52 440 Porec
ili na e-mail: hssd@hssd.hr ili fax: 00385 52 434006
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(E) TRADITIONAL ST. MARY'S PICNIC on Aug. 7th 2005
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The TRADITIONAL ST. MARY'S PICNIC
will be held on Sunday, August 7, 2005 at Cibort Park in Bressler, PA Lamb and Pork, roasted at the picnic grounds will be available for purchase by the pound, as a dinner or in a sandwich. Baked goods include apple, cheese and cherry strudel along with other ethnic favorites. Other food items include cabbage and noodles, hot sausage, hot dogs, BBQ and much more. Continuous music from 12:00 noon until 8:00 pm will be provided by Tamburitza RRoma from Chicago, IL and The POLKA WHOOo!. There is plenty of free off-street parking and no admission charge.
If anyone needs directions to the picnic, you can contact Rudy Pavlick by e-mail at; hrvata@worldnet.att.net Sincerely, Rudy Pavlick, Secretary St. Mary's Preservation Society
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(E) Croatia's thriving funds
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Croatia's thriving funds
Fledgling Croatian pension funds are proving so successful they will soon have more money than they are allowed to invest.
Croatian pensions have been praised as a rare success story of financial reforms in the former Yugoslav republic-turned EU candidate country. But fund managers now want looser restrictions on where they can invest their growing coffers.
“Without major changes in the liquidity of the Croatian capital market, pension funds will, in the coming years, face a problem of where to invest their money,� Damir Grbavac, head of the best-yielding Raiffeisenbank pension fund, told Reuters.
Croatia launched mandatory pension funds in 2002. By the end of March this year, the four funds had net assets worth 8.5 billion Croatian kuna ($1.5 billion), about one-10th of private savings at commercial banks and roughly 4 percent of GDP.
But a thin Croatian capital market, slow privatization and few eligible shares on the local bourses have squeezed investment options.
Fund managers have to invest at least 50 percent of their portfolio in Croatian state debt and are banned from investing more than 15 percent abroad. They can also only invest in the shares of a few top-tier companies.
“Investment structure was adequately regulated when the pension reform started three years ago, but some changes seem necessary now,� Grbavac said.
Dinko Novoselec who manages A-Z, Croatia’s largest fund, said it was wise to invest at home before venturing into foreign markets, but the limit on overseas investment cannot be maintained as Croatia heads toward EU membership. Zagreb hopes to join the bloc by 2009.
“Croatia is a transitional economy which we expect to rise faster than the economies of developed countries. It should consequently bring higher yields to our members,� Novoselec said.
Fund managers and state pension fund regulator Hagena agree the capital market could develop faster if funds were allowed to take part in privatizing state assets.
Hagena proposed an amendment to the pension funds bill to allow funds to invest in more equities, including dozens of companies listed in the less transparent public companies tier of the bourse.
“If privatization through a strategic partner secures higher revenues that’s fair enough, but pension funds are eager to step in if part of the sale goes through the local bourses,� said Dragan Kovacevic, head of Hagena.
Croatia has already begun privatizing some of its big industries, like oil firm INA and state telecom operator T-HT, through direct sale to a strategic partner. The government has decided to sell another 15 percent of INA in the coming months, which would take the stake sold off to 40 percent — a move likely to please fund managers.
But it is not just mandatory funds that are gaining weight. Voluntary pension funds have also launched in Croatia, albeit with fewer assets at their disposal — 110 million kuna at the end of March.
“They are still establishing themselves,� Grbavac said. “A key issue here would be to create such a tax deduction policy that would motivate employers to pay... into voluntary funds.� But Kovacevic said that before such voluntary schemes can thrive, Croatia will need to look at wider ways to stimulate its economy.
“Only in a wealthy society can people put their money aside and invest in their future through such a scheme,� he said.
Fonte: By Igor Ilic. Source: Reuters
http://www.portalino.it/nuke/modules.php?name=News&file=article&sid=12024
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(E) Croatian Ambassador Handed Credentials to Armenian FM
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CROATIAN AMBASSADOR TO RA HANDED COPIES OF CREDENTIALS TO ARMENIAN FM
18.07.2005 08:18
/PanARMENIAN.Net/ Today Croatian Ambassador to RA Neven Madey (residence in Athens) handed the copies of his credentials to Armenian Foreign Minister Vartan Oskanian, RA MFA press center reported. Vartan Oskanian congratulated the Croatian diplomat with the appointment and wished him every success. Noting the satisfactory level of the Armenian-Croatian relations the RA FM said that a great deal of work targeted at the development of trade-economic and cultural ties should still be done. The parties stressed the importance of creation of the legal basis and organization of regular consultations between the Foreign Ministries of the two states. In his turn, Mr. Madey familiarized Vartan Oskanian with the EU-Croatia relations. The interlocutors also touched upon the Karabakh conflict settlement.
http://www.panarmenian.net/news/eng/separate.php?id=14198&task=society&cat_id=1
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(E) Remi Award for Freedom from Despair - WorldFest Houston
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Remi Award for Freedom from Despair - WorldFest Houston atthe WorldFest Houston Film Festival
To our suprise we were just notified today that Freedom from Despair won a Bronze Remi Award at the 2005 WorldFest Houston Film Festival. Out of 4,500 entries Freedom from Despair was selected by an international Jury to receive a competitive Bronze Remi Award for the film's achievement in film and video production. Congratulations to the entire Freedom from Despair team for this achievement and to all the people who have supported the film!
Thank you, Brenda www.freedomfromdespair.com www.worldfest.org
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(E) Brenda Brkusic Honored by US House of Representatives
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Brenda Brkusic Honored by US House of Representatives BRENDA BRKUSIC AND HER FILM FREEDOM FROM DESPAIR RECOGNIZED ON THE CONGRESSIONAL RECORD IN HONOR OF ACCLAIMED FILMMAKER BRENDA BRKUSIC -- (Extensions of Remarks - June 24, 2005) SPEECH OF HON. DENNIS J. KUCINICH OF OHIO IN THE HOUSE OF REPRESENTATIVES FRIDAY, JUNE 24, 2005
Mr. KUCINICH. Mr. Speaker, I rise today in honor and recognition of filmmaker Brenda Brkusic. Brenda is a courageous and hard working young woman who has been identified as a visionary in the Croatian community. At the age of twenty-one, Brenda started working on the film Freedom From Despair as her student thesis at Chapman University in Los Angeles, California. Freedom From Despair explores one man's arduous journey from his homeland of Yugoslavia to the United States, and his fight for human rights and Croatian independence. It also scrutinizes the relationship between ruthless dictators, the slaughter of 250,000 people, and the silence of the mainstream media. It creatively portrays the power of the human spirit and the tenets of democracy, without preaching or the use of propaganda. Her film has been met with critical acclaim, and has garnered countless awards, including the CINE Golden Eagle award, which has previously been awarded to Steven Spielberg and George Lucas. Her peers have recognized her as an emerging talent in the film industry, and a remarkable human being. Mr. Speaker and Colleagues, please join me in honor and recognition of Ms. Brenda Brkusic, the writer, producer and editor of Freedom From Despair for her hard work encouraging human rights and personal triumph over evil. END http://frwebgate.access.gpo.gov/cgi-bin/getpage.cgi?dbname=2005_record&page=E1346&position=all
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