Dalmatian Cuisine

Dalmatian Cuisine is without any doubts a real gourmet cuisine, with remarkable tastes. The Dalmatian Cuisine is characterised by fish specialities: a barbecue fish that can be tried out on fish picnics or at fishermen’s nights, specialities with sea fruits and other sea foods that can be tried in various Taverns and Restaurants on Čiovo, in Trogir and all over Dalmatia. Characteristic ingredients of the Dalmatian cuisine are different aromatic herbs, garlic, and domestic olive oil, produced throughout Dalmatia. There are also other very tasty and very popular foods and products of Dalmatia, like Dalmatian Prosciutto and the Cheese from island Pag, known worldwide for their exquisite taste and quality.

In the Middle Ages, during the Venetian Rule and the times of Ottoman Empire, the city of Dubrovnik was also an independent Republic. In those times Dubrovnik was one of the largest cities in Europe, together with Florence and London, and it had 40000 citizens. The Republic of Dubrovnik functioned independently, had its own laws and its own political system, which strongly prohibited corruption and violence and successfully kept economic and trade relationships with other empires and countries. In the times of the Ottoman EmpireDubrovnik managed to retain its independence although it had to pay a certain fee to the Turks for peaceful transit and trading. In the 17th century Dubrovnik was hit by a large earthquake that destroyed the largest part of the town. The Republic of Dubrovnik lost the status of a republic in the 19th century, when the French and Napoleon conquered this part of Dalmatia. After Napoleon came the Austro Hungarian Rule and Dubrovnik continued to struggle to regain its independency. Finally, in the 20th century, in 1941 Dubrovnik was declared a town of the Independent Country Croatia, which was then a part of The Kingdom Yugoslavia. In the 20th century, in 1991, Dubrovnik had to defend itself from the Serbs from Montenegro, who brutally attacked the town, wanting to occupy it and to expand the “Big Serbia” to its territory. Although much was destroyed during the battles in Dubrovnik, the town did not fall and its territory was defended. Finally, thanks to UNESCO, which listed Dubrovnik as a world cultural heritage in 1979, Dubrovnik was rebuilt. The Old City Walls and all the other beautiful notabilities of Dubrovnik reclaimed their original beauty and charms. Dubrovnik is very popular for the City Walls, the old town inside these walls, and especially for the famous street Stradun. Stradun is popular for the various manifestations being held there throughout the whole year, which are visited by tourists from all over the world. On Stradun there are many stores, souvenir shops, monuments, notabilities, museums, café bars, restaurants and many more. One side of the city walls looks towards the sea and the other side is directed towards the mainland. Between the walls and the Stradun there are many small tight passages, stairs and roads with stone houses in old medieval style. The construction of The City Walls of Dubrovnik stretched from the 13th and until the 17th century. Fortresses and forts built in the walls also date from different centuries. The City Walls are 1940m long and 25m high. Your visit to Dubrovnik should absolutely connote a walk around the City Walls or you cannot say that you’ve really experienced Dubrovnik. This very special and popular tourist destination possesses an amazing beauty and an unbelievably interesting history, both of which should be experienced. It is up to you to visit Dubrovnik and explore it. In the Middle Ages, during the Venetian Rule and the times of Ottoman Empire, the city of Dubrovnik was also an independent Republic. In those times Dubrovnikwas one of the largest cities in Europe, together with Florence and London, and it had 40000 citizens. The Republic of Dubrovnik functioned independently, had its own laws and its own political system, which strongly prohibited corruption and violence and successfully kept economic and trade relationships with other empires and countries. In the times of the Ottoman Empire Dubrovnik managed to retain its independence although it had to pay a certain fee to the Turks for peaceful transit and trading. In the 17th century Dubrovnik was hit by a large earthquake that destroyed the largest part of the town. The Republic of Dubrovnik lost the status of a republic in the 19th century, when the French and Napoleon conquered this part of Dalmatia. After Napoleon came the Austro Hungarian Rule and Dubrovnik continued to struggle to regain its independency. Finally, in the 20th century, in 1941 Dubrovnik was declared a town of the Independent Country Croatia, which was then a part of The Kingdom Yugoslavia. In the 20th century, in 1991, Dubrovnik had to defend itself from the Serbs from Montenegro, who brutally attacked the town, wanting to occupy it and to expand the “Big Serbia” to its territory. Although much was destroyed during the battles in Dubrovnik, the town did not fall and its territory was defended. Finally, thanks to UNESCO, which listed Dubrovnik as a world cultural heritage in 1979, Dubrovnik was rebuilt. The Old City Wallsand all the other beautiful notabilities of Dubrovnik reclaimed their original beauty and charms. Dubrovnik is very popular for the City Walls, the old town inside these walls, and especially for the famous street Stradun. Stradun is popular for the various manifestations being held there throughout the whole year, which are visited by tourists from all over the world. On Stradun there are many stores, souvenir shops, monuments, notabilities, museums, café bars, restaurants and many more. One side of the city walls looks towards the sea and the other side is directed towards the mainland. Between the walls and the Stradun there are many small tight passages, stairs and roads with stone houses in old medieval style. The construction of The City Walls of Dubrovnik stretched from the 13th and until the 17th century. Fortresses and forts built in the walls also date from different centuries. The City Walls are 1940m long and 25m high. Your visit to Dubrovnik should absolutely connote a walk around the City Walls or you cannot say that you’ve really experienced Dubrovnik. This very special and popular tourist destination possesses an amazing beauty and an unbelievably interesting history, both of which should be experienced. It is up to you to visit Dubrovnik and explore it....https://www.youtube.com/watch?v=w6270WSA1fk

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NYTimes.com Home |Business Day| Video

For the latest updates, go to NYTimes.com/DealBook

FRIDAY, AUGUST 7, 2015

TODAY'S TOP HEADLINES

M & A Shell to Sell Stake in Chinese Lubricant Supplier Tongyi

INVESTMENT BANKING ANZ Bank Shares Drop Most Since 2008

PRIVATE EQUITY Salesforce Ventures and Microsoft Join Informatica Buyout

OFFERINGS Irish Finance Minister Eyes Return of AIB Capital Ahead of I.P.O.

VENTURE CAPITAL Tencent and Google Capital Invest In Indian Healthcare Start-up Practo

LEGAL/REGULATORY Citigroup's Sale of OneMain to Springleaf Hits Antitrust Obstacle

For the latest updates, go to NYTimes.com/DealBook

BY AMIE TSANG

ACKMAN'S BET ON MONDELEZ SALES By building up a $5.5 billion stake in Mondelez International, William A. Ackman is wagering that Mondelez could be persuaded to sell itself, Michael J. de la Merced and Alexandra Stevenson write in DealBook. The investment that Mr. Ackman's Pershing Square Capital Management has made also highlights the widespread belief that the food sector is ripe for consolidation.

Mr. Ackman is said to like the aggressive cost-cutting measures announced by the Mondelez chief executive, Irene Rosenfeld, according to a person with knowledge of Mr. Ackman's thinking. Another person briefed on Pershing Square's move to build up a stake said the firm believes Mondelez must continue to cut costs or consider a sale.

The cuts it has already made followed months of pressure from another activist investor, Nelson Peltz, who had built a stake of more than $1 billion in the company. He had wanted Mondelez to merge with PepsiCo's Frito-Lay snack business, but later dropped the campaign and joined the Mondelez board.

With costs already reduced, analysts think Mr. Ackman must be pushing for a sale. Traditional manufacturers are under pressure to improve their performance with health food manufacturers biting and new, smaller businesses cutting into their market share. Combining and getting bigger is seen as a natural defense. It would help shed expenses and give manufactureres more negotiating leverage with retailers, helping them to gain more space on supermarket shelves.

Mr. Ackman may have to wait for a sale, though. Kraft Heinz, one possible buyer, only recently closed the deal that created the food giant. PepsiCo, another possibility, has shown no interest in a huge acquisition to bolster its snack business.

THE NEVER-ENDING LAWSUIT A civil lawsuit accusing Muarice R. Greenberg, the former chief executive of the American International Group, and another former company executive of accounting fraud, passed the 10-year mark with no trial in sight, Randall Smith reports in DealBook. It was brought in 2005 by Eliot L. Spitzer, the New York attorney general, and has been exasperatedly described by the presiding judge, Charles E. Ramos, as "a series of seemingly never-ending motions and appeals."

Some legal experts say the case shows how a wealthy defendant with a high-powered legal team can run circles around state lawyers and the state court system.

One of the reasons the proceedings have taken so long is because the New York court system allows so-called interlocutory appeals of decisionsmade by the presiding judge before a trial begins. In this case, the defending team has appealed five decisions made by Justice Ramos and two by an intermediate-levels appeals court. It has also sought testimony from 48 witnesses, compared with the state's eight.

David Boies, the litigator leading the defense, denies stalling on a case in which the presiding judge has repeatedly ruled in favor of the state.

One former state regulator noted that any strategy of delay might echo A.I.G.'s business strategy when Mr. Greenberg was at the helm: The company had a reputation for fighting claims and being slower to pay than other insurers.

Other legal experts have also pointed out that the slow pace of this case has not been helped by Mr. Spitzer's successors as New York attorney general, Andrew M. Cuomo and Eric T. Schneiderman, who have not made efforts to speed up proceedings.

WHY DISCLOSING C.E.O. PAY MIGHT BRING CHANGE All past attempts to rein in outsize executive pay have failed. So why does anyone expect a different outcome from the Securities and Exchange Commission's new rule requiring disclosure of the gap between the earnings of chief executives and rank-and-file workers, asks Gretchen Morgenson in the Fair Game column.

Although many companies' pay ratios are expected to be astronomical, Brian Foley, an independent compensation consultant in White Plans, said the way the S.E.C. required the calculations to be made would probablyunderstate the true pay gap. The calculation relies on summary compensation tables in the annual proxy statement and does not include what executives have built up in their retirement plans.

Some think the numbers revealed will be easy to grasp and decidedly shocking. This may energize new combatants in the executive pay fight, some of whom are likely to be more vocal on the matter than institutional investors. "The pay ratio was designed to inflame the employees," said Charles Elson, professor of finance and director of the John L. Weinberg Center for Corporate Governance at the University of Delaware.

There is also interest in using the indicator of pay ratio and incorporate it into legislation. In 2014, the California Senate proposed a bill that would have raised the state's corporate income tax to 13 percent from 8.84 percent for companies that pay their top executives over 400 times the median pay of their workers. That bill would also have lowered the tax rate to 7 percent on companies with a ratio of 25 to one. In January, five Rhode Island senators introduced a bill setting preferences for how state contracts are awarded, giving a leg up to businesses that have relatively low pay ratios of 25 to one.

It is possible, too, that some consumers may vote with their feet and choose to favor companies whose pay is fairer, if they are disturbed by the disparity between a corporate chief's pay and that of lower-level workers.

ON THE AGENDA Non-farm payroll data will be released at 8:30 a.m. Hershey holds a conference call on its second-quarter earnings at 8:30 a.m.

APOLLO'S STAKE IN AMERICAN REALTY Apollo Global Management is acquiring a majority stake in AR Global Investments for $378 million, The Real Deal reports. The move will more than double the private equity giant's real estate assets to about $27 billion. AR Global will be governed by a newly created board of directors that will include four American Realty Capital partners.

The Financial Times reports that Apollo and its rivals, including Blackstone, Carlyle and K.K.R., are increasingly focused on wealthy individuals and retail investors because their core private equity businesses face challenges and their biggest institutional investors are demanding lower fees. Many of these same clients also view new initiatives as a distraction from providing equity and growth capital.

Apollo said it was also acquiring RCS Capital, which distributes investment products to independent brokers and financial advisers to merge it into AR Global.

Contact amie.tsang@nytimes.com

MERGERS & ACQUISITIONS »

Shell to Sell Stake in Chinese Lubricant Supplier Tongyi Royal Dutch Shell has agreed to sell its controlling stake in Tongyi Lubricants in China, in the energy company's latest step to restructure its global refining business.

NYT »

IBM's deal with Merge Healthcare combines Watson's image analytics and cognitive capabilities with data and images obtained from Merge's medical imaging platform.

IBM Adds Medical Images to Watson, Buying Merge Healthcare for $1 Billion The company is investing not only money but also some of its corporate reputation on the belief that it can be a technological leader in improving health care.

DEALBOOK »

Breakingviews: Humpty Dumpty Deal-making Should Mondelez be put back together again with Kraft? Or should VMware absorb its parent EMC? It is fantasy season for all the Street's men.

NYT »

Zurich's Bid for RSA May Ignite Deal Flurry in Europe With Zurich Insurance Group on the verge of its biggest acquisition in more than a decade, Europe is poised to add to the consolidation that is sweeping the industry globally.

BLOOMBERG

INVESTMENT BANKING »

ANZ Bank Shares Drop Most Since 2008 Australia & New Zealand Banking Group shares slid the most in almost seven years after the lender reported profit that missed analysts' estimates and as it raises $2.2 billion to shore up capital.

BLOOMBERG NEWS

For the latest updates, go to NYTimes.com/DealBook

PRIVATE EQUITY »

Salesforce Ventures and Microsoft Join Informatica Buyout The two companies, partners of the enterprise software maker, will take ownership stakes in the biggest leveraged buyout of the year.

NYT »

Smaller Morsels for Private Equity Firms Although they are flush with capital private equity groups are scrambling to avoid paying high prices for a shrinking pool of large investments that might threaten future returns.

THE FINANCIAL TIMES

I.P.O./OFFERINGS »

Irish Finance Minister Eyes Return of AIB Capital Ahead of I.P.O. State-owned Allied Irish Bank's strong results puts the government in a strong position to recover the full cost of bailing it out, beginning with a return of excess capital ahead of a potential share sale.

NYT »

VENTURE CAPITAL »

Tencent and Google Capital Invest In Indian Healthcare Start-up Practo The Chinese Internet giant Tencent Holdings led a $90 million funding round for the Indian health-care information provider Practo, which brings its total amount raised to $124 million.

THE WALL STREET JOURNAL

LEGAL/REGULATORY »

Citigroup's Sale of OneMain to Springleaf Hits Antitrust Obstacle Citigroup sale of OneMain Financial to Springleaf Holdings for $4.25 billion would be a milestone in the company's yearslong effort to get smaller in response to regulators' criticism it is too sprawling to manage effectively. But the Department of Justice had "concerns" about the deal that could delay its closing.

THE WALL STREET JOURNAL

China Crackdown on Citadel Shines Light on Foreign Firms A crackdown on traders in China that included the Chicago-based Citadel has shone a light on the few foreign investors to have set up shop in a country long wary of outside influence.

THE WALL STREET JOURNAL

Aug. 7, 2015

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