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2014 Soccer World Cup Will Have Positive Impact on Brazilian GDP

first_img The 2014 soccer World Cup in Brazil will have a positive impact of 1.5 percentage points on that country’s gross domestic product (GDP) over the next three years, with the direct creation of at least 250,000 jobs, according to the bank Itaú Unibanco. The institution presented a study on the economic effects of hosting the World Cup, the first to be held in Brazil since 1950. Itaú Unibanco’s head economist, Illan Goldfajn, affirmed that public and private investment for the event will spur GDP growth and open the way to even greater expansion of the Brazilian economy over the long term. “The direct spending impact, both infrastructure and private-sector spending, accounts for 1 percent of GDP, and the remainder comes from the multiplier effect,” Goldfajn said. The Brazilian federal government has a budget of 20.6 billion dollars for investments in stadiums, airports, and transportation and communications infrastructure, among other areas directly linked to the World Cup. Private investment is concentrated in the tourism sector, chiefly in the construction of new hotels. The Brazilian Central Bank estimates GDP growth of 4 percent in 2011. Last year, the Brazilian economy grew approximately 7.5 percent. By Dialogo August 15, 2011last_img read more


Three WNBA games set for Wednesday night postponed following shooting of Wisconsin Black man

first_imgThree WNBA games set for Wednesday night postponed following shooting of Wisconsin Black man August 26, 2020 Associated Press center_img Share This StoryFacebookTwitteremailPrintLinkedinRedditBRADENTON, Fla. (AP) — Three WNBA games set for Wednesday night postponed following shooting of Wisconsin Black man.last_img


Unibet ‘chess proposition’ triggers Norway drama

first_img A potential tie-up between Norges Sjakkforbund (NSF) – Norway’s Chess Federation – and online bookmaker Unibet may turn into a political showdown for multiple national stakeholders.Norwegian media reports that NSF has been approached by Kindred Group Plc’s flagship sportsbook property Unibet, offering the federation a NOK 50 million (€5m) partnership – Norwegian Chess’ biggest ever sponsorship.Reacting to the news, NSF has been ordered by TV 2 (Egmont Group) to reject the ‘controversial proposal’, as the broadcaster seeks to bring the 2020 Chess World Cup to the South Western city of Stavanger.Working alongside Norway’s Ministry of Culture, TV 2 governance is reported to be preparing its Stavanger 2020 bid, seeking to host Norway’s biggest ever chess event and further cashing-in on the popularity of Chess Grand Master Magnus Carlsen.A potential NSF-Unibet partnership will likely jeopardise TV 2’s bid, as Norway has outlawed the promotion of ‘foreign unlicensed operators’ by national media incumbents.Nevertheless, Norway’s vague laws on marketing have allowed Unibet to approach NSF, with a sponsorship offer that is reported to be twice the value of TV 2’s World Cup offering.Kjell Madland, Chairman of NSF, has stated that the federation notes media and political concerns, but that Unibet’s significant proposal will be reviewed in the interest of Norwegian Chess development.Should NSF move forward with Unibet’s offer, it will likely come head-to-head with gambling regulator Lottstift, during a period in which it has enforced its ‘toughest stance on restricting remote gambling operators’.Unibet is prepared to undertake Chess’ biggest sponsorship to date, with the online bookmaker highlighting the success of its lead sponsorship of the 2018 FIDE World Chess Championship in London between Magnus Carlsen vs American Fabiano Caruana.An epic encounter featuring 51-hours of play across 12 drawn matches, Carlsen Vs Caruana drew worldwide audiences, with Unibet stating to SBC that the FIDE Championship had been one of its ‘most successful sponsorships ever‘.Speaking to national media, Trine Skei Grande – Norway’s Minister of Equality & Culture – detailed that his department would not seek to influence NSF decision with regards to partnering with Unibet, but warned that NSF events could be restricted in promotion as Norwegian Chess’ governing body is a subordinate of the Norway Sports Federation. Kindred marks fastest route to ‘normal trading’ as it delivers H1 growth July 24, 2020 Share Related Articles Share StumbleUpon Submit Norway’s Ministry of Culture seeks to end gambling’s triple guardianship  June 30, 2020 Unibet backs #GoRacingGreen as lead racing charity  July 28, 2020last_img read more