5 things to know: 3 July 2019
5 things to know: 3 July 2019
03 JULY 2019 9:20 AM

From the desks of the Hotel News Now editorial staff:

  • Two Sri Lankan officials arrested over hotel blasts
  • STR: Every day is not like Sundays for July Fourth
  • IMF’s Lagarde gets nod for Europe’s central bank
  • US manufacturing hovers just above contraction zone
  • Superpowers responsible for huge share of global waste

Two Sri Lankan officials arrested over hotel blasts: Authorities in Sri Lanka have arrested two top officials for allegedly failing to act on evidence that they claim could have avoided the terrorist attacks on hotels and churches in the Indian Ocean island in April that resulted in the deaths of more than 250 people, according to national newspaper Colombo Telegraph.

Pujith Jayasundara, Sri Lanka’s inspector-general of police, and Hemasiri Fernando, former secretary to the minister of defence, have denied the allegations. The 21 April attacks targeted religious centers and four hotels—Cinnamon Grand, The Kingsbury and Shangri-La Colombo and The Tropical Inn.

STR: Every day is not like Sundays for July Fourth: Hotels in the United States across the Independence Day holiday can expect small gains in average daily rate, even if occupancy dips a little as a result of the Fourth of July falling on a Thursday this year, according to Hotel News Now contributors M. Brian Riley and Brannan Doyle, with STR’s Market Insights group. (STR is the parent company of Hotel News Now.)

A Thursday, though, is better than a Monday, Tuesday or Wednesday, when occupancy dips noticeably, Riley and Doyle write. But hotels see the greatest performance boost when the holiday falls on a Sunday.

IMF’s Lagarde gets nod for Europe’s central bank: The current managing director and chair of the International Monetary Fund, Christine Lagarde, has been nominated for the position of president of the European Central Bank. If her nomination is accepted, she will become the first woman to hold the important role, the BBC reports. She also was the first woman to run the IMF, a role she began in 2011.

The position is vacant due to the stepping down of Mario Draghi, the current president who was also elected to his post in 2011. The tenure of the presidency is an eight-year non-renewable term.

U.S. manufacturing hovers just above contraction zone: The Institute for Supply Management’s latest manufacturing index numbers have shown a slip in the important economic indicator from 52.1 to 51.7, with analysts saying that while numbers posted above 50 show economic expansion, this provides little room to maneuverer, The Wall Street Journal reports.

The data, analysts added, comes as a “part of a broader picture of softening activity in global manufacturing,” with peer analyst firm IHS Markit on 1 July saying similar softness is occurring in European manufacturing.

Superpowers responsible for huge share of global waste: Damning numbers have emerged in a report by global-risk analyst Verisk Maplecroft, which states that China, India and the U.S. are responsible for 39% of global waste. China and India, the report says, make up more than 36% of the global population and generate 27% of its waste, while the U.S., with 4% of the global population, contributes 12% of global waste, making it the worst offender per capita.

Verisk Maplecroft measured the problem both in terms of waste generation and recycling. Its report stated that only 16% of annually produced waste is recycled, but that “China, Malaysia, Thailand and Vietnam have all banned, or are set to ban, imports of solid waste, including a host of plastics.” Of the countries recorded, Australia and Saudi Arabia come out the best.

Compiled by Terence Baker.

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