Class of 1991

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PREMIUMIndonesia stands firm on omnibus bill amid mounting withdrawal requests

first_imgLog in with your social account Google Forgot Password ? omnibus-bill omnibus omnibus-law Airlangga-Hartarto Joko-Widodo Jokowi Jokowi-administration puan-maharani house-of-representatives politics investment business Facebook LOG INDon’t have an account? Register here Topics : Linkedin Despite the growing public outcry surrounding the much-touted omnibus bill on job creation, the government is standing firm on its plan to pass the bill amid demands from experts to withdraw the bill over its many problematic provisions.Coordinating Economic Minister Airlangga Hartarto said the government acknowledged the debate in the public sphere over the bill. But he claimed that any protests should be addressed to the House of Representatives and not to President Joko “Jokowi” Widodo’s administration as the government had submitted the draft bill to the lawmakers.“The House’s task is to deliberate the bill and to engage in public participation, which will occur during hearing sessions. So please, go to the House if you are looking for any compromise,” Airlangga said during an exclusive interview with The Jakarta Post in Jakarta on Monday….last_img read more

RBA defuses fears over $360b in interest-only home loans expiring

first_imgNumerous commentators have warned that the end of interest-only periods could be disastrous for Australian housing — something the RBA has now dismissed.Mr Kent said what was different now was that “many households have already switched willingly in 2017 in response to pricing differentials, and lending standards were tightened further in recent years”.“This could affect the ability of some borrowers to extend their interest-only periods or to refinance to a P & I loan with a longer amortising period so as to reduce required payments on the loan.”Many borrowers made provisions ahead of time for the rise in required repayments, with half of owner-occupier loans holding prepayment balances of more than six months of scheduled payments, according to RBA data.“For the household sector as a whole, however, the cash flow effect of the transition is likely to be moderate. The effect on household consumption is likely to be even less. This is because some interest-only borrowers will be willing and able to refinance their loans,” Mr Kent said.More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours ago“Also, many others have built up a sufficient pool of savings, or will be able to redirect their current flow of savings to meet the payments, or have planned for, and will manage, this change in other ways.”Among the options open to borrowers was to “negotiate an extension to their interest-only period with their current lender or refinance their interest-only loan with a different lender” or refinance into a new P & I loan with a longer term to reduce payments.“A large majority of borrowers would be eligible to alter their loans in at least one of these ways,” Mr Kent said. “Any such refinancing will reduce the demands on a borrower’s cash flows for a time. However, it is worth noting that by further delaying regular principal repayments, eventually those repayments will be larger than otherwise.” RBA Assistant Governor Christopher Kent (L), in a file picture with RBA Governor Philip Lowe (C) and Deputy Governor Guy Debelle. Picture: AFP Photo/Peter Parks.Those who had not built up savings ahead of time or were unable to refinance their loans were “in the minority”, he said, and “more importantly, most of them appear to be in a position to service the additional required payments”.“The available data, and our liaison with the banks, suggest that there are only a small minority of borrowers who will need to reduce their expenditure to service their loans when their interest-only periods expire.”The final option for some interest-only borrowers was to consider selling their properties to repay their loans, he said.“Difficult as that may be — most notably for owner-occupiers — doing so could free up cash flow for other purposes. It would also allow them to extract any equity they have in the property.”He said there would a small percentage of borrowers — the most vulnerable being owner-occupiers, with high loan-to-valuation rations — needing assistance to manage the transition.“Over the past year, some banks have reported that there has been a small deterioration in asset quality. For some borrowers this has tended to be only temporary as they take time to adjust their financial affairs to cope with the rise in scheduled payments.“For a small share of borrowers, though, it reflects difficulty making these higher payments. That share could increase in the event that an adverse shock led to a deterioration in overall economic conditions.” FREE: GET THE COURIER-MAIL’S REAL ESTATE NEWS DIRECT TO INBOX FOLLOW SOPHIE FOSTER ON FACEBOOK The Reserve Bank of Australia believes the vast majority of interest-only loans will have smooth transition to their next setting. Picture: AAP Image/Dean Lewins.THE Reserve Bank has estimated that $360b in housing loans will hit the end of their interest-only periods in the next three years, but downplayed fears saying so far the transition has been smooth.RBA Assistant Governor (financial markets) Christopher Kent told a Housing Industry Association Breakfast in Sydney this morning that the smooth transition from interest-only loans — which made up 40 per cent of housing credit at its height in 2015 — was “likely to remain so” given several years of tighter lending standards.“The substantial transition away from interest-only loans over the past year has been relatively smooth overall, and is likely to remain so. Nevertheless, it is something that we will continue to monitor closely.”He said “around two-thirds of interest-only loans in the Reserve Bank’s Securitisation Dataset are due to have their interest-only periods expire by 2020”, which meant around $120 billion of interest-only loans rolling over to principal and interest loans each year over the next three years.“This annual figure is equivalent to around 7 per cent of the stock of housing credit outstanding,” a figure that he said “appears large” but was “not unprecedented”.“At the end of 2016, a similar value of loans was due to have their interest-only periods expire in 2017.”last_img read more

IPE Awards: PensionDanmark scoops European Pension Fund of the Year

first_imgElisabeth Bourqui, head of the pensions management operations at Swiss technology firm ABB, was awarded Pension Fund Achievement of the Year for her team’s implementation of an advanced investment process adaptable across the company’s more than 100 defined benefit and defined contribution schemes. PensionDanmark took the top prize of European Pension Fund of the Year at Tuesday night’s IPE Awards in Prague.The €30bn pension provider was praised by the judges for its innovative use of technology in several areas, with one judge remarking that PensionDanmark “effectively operates in the future”.PensionDanmark’s advanced approach also saw the fund take home the Innovation award.Alan Rubenstein, outgoing chief executive of the UK’s Pension Protection Fund, was presented with the Lifetime Achievement Award in recognition of his work at the lifeboat scheme. Elisabeth Bourqui, ABB Group, receives the Pension Fund Achievement of the Year award from Mesirow’s Joseph HoffmanABB was also recognised as the top pension fund in Switzerland in the country awards.Also taking home Gold Awards were Sweden’s AP4 for the best Long-Term Investment Strategy, and the UN’s Principles for Responsible Investment (PRI) for Outstanding Industry Contribution. One judge said there could be “no question” about the influence of the PRI on a global level regarding the application of ESG investing.The Corporate Pension Fund of the Year award was shared between two UK schemes: HSBC and Trafalgar House. France’s ERAFP was awarded Public Pension Fund of the Year, and Spain’s Unifondo V was named Small Pension Fund of the Year.Several pension funds won a brace of awards, including the £2bn (€2.2bn) Royal County of Berkshire Pension Fund, recognised for expertise in Emerging Markets and Alternatives, and Nordic provider SEB Life & Pension, which took home the Bronze awards for both Fixed Income and Equities.The full list of award winners is as follows:Gold Awards European Pension Fund of the Year: PensionDanmarkOutstanding Industry Contribution: PRI Alan Rubenstein, PPF, receives the Lifetime Achievement Award from IPE Editorial Director Liam KennedyPension Fund Achievement of the Year: Elisabeth Bourqui, ABB Group PensionsLifetime Achievement Award: Alan RubensteinLong-Term Investment Strategy: AP4Silver Awards Corporate Pension Fund: HSBC Bank UK Pension Scheme and Trafalgar House Pension TrustMulti-Employer/Professional Pension Fund: Merchant Navy Officers Pension Fund (MNOPF)Public Pension Fund: ERAFPSmall Pension Fund: Unifondo V Pension FundSovereign Reserve Fund: ATPActive Management: AlectaPassive Management: FRRBronze Awards Alternatives: Royal County of Berkshire Pension FundEquities: SEB Life & PensionFixed Income: SEB Life & PensionCountry Awards Austria (Pensionskasse): Allianz Pensionskasse AGAustria (Vorsorgekasse): APK Vorsorgekasse AGBelgium: Pensio BCentral & Eastern Europe: Swedbank DinamikaDenmark: ATPFrance: FRRGermany (bAV): Bosch Pensionsfonds AGGermany (Versorgungswerk): Ärzteversorgung Westfalen-LippeIreland: RetireSmart (ESB Defined Contribution Pension Scheme)Italy: Fondo Pensione LaborfondsNetherlands: Pensioenfonds PGBPortugal: Fundo de Pensões Horizonte ValorizaçãoSmall Countries: Frjálsi Pension FundSpain (corporate scheme): PensionsCaixa 21Spain (multi-employer scheme): Geroa Pentsioak EPSVSweden: SPKSwitzerland: ABB Group PensionsUnited Kingdom: Strathclyde Pension FundThemed Awards Climate Related Risk Management: APG Asset ManagementDC & Hybrid Strategies: Bosch Pensionsfonds AGDiversification: Merchant Navy Officers Pensions Fund (MNOPF)Emerging Markets: Royal County of Berkshire Pension FundESG: AlectaFactor Investing: HSBC Bank UK Pension SchemeIn-house Investment Team: PGGMInnovation: PensionDanmarkPortfolio Construction: SampensionReal Assets & Infrastructure: Ärzteversorgung Westfalen-LippeReal Estate: Church Commissioners for EnglandRisk Management: Trafalgar House Pension TrustSpecialist Investment Managers: PGGM Photo credit: Miguel AlonsoIPE Editorial Director Liam Kennedy closes the evening’s proceedingslast_img read more

St. Maarten seeking to lease Prison Cells Abroad — Curacao has no space for St. Maarten Prisoners — Duncan.

first_img 328 Views   no discussions Sharing is caring! Share Philipsburg:— St. Maarten’s Minister of Justice Roland Duncan said his Ministry is seeking to lease prison cells overseas since the island’s prison facility does not have enough space to house all its criminals. Minister Duncan made the announcement on Wednesday during the Council of Ministers press briefing. The Minister also disclosed that he received a letter from Curacao’s Minister of Justice informing him that Curacao does not have space to house prisoners from St. Maarten. He said St. Maarten currently has 12 prisoners in Curacao and while they will not be sent back here, Curacao will not be accepting any more new prisoners from St. Maarten.Minister Duncan said while he is seeking to lease prison cells from Holland, this, he said will be costly for St. Maarten because prisoners cannot be transferred to Holland on regular commercial flights. “We might have to charter flights to take prisoners to Holland if we manage to secure some cells on lease.” This discussion he said will take place when the Attorney General visits Holland. He said St. Maarten will not be asking Holland for any favors or assistance, instead they are seeking to rent prison space just as Belgium did with Holland.Minister Duncan also explained that he is busy seeking space from other countries but he said he will not divulge information on which countries he is negotiating with until an arrangement is had. The Minister also announced that he is busy negotiating with some private persons on leasing another property for a new prison. Minister Duncan said he is preparing for reactions that he might get from the public regarding the location. However, he made clear that St. Maarten is producing its criminals and St. Maarten would have to deal with those criminals by housing them somewhere in the community.The Justice Minister said currently the Pointe Blanche Prison does not have enough space to house its criminals and the lack of space is hampering the judicial process. He said the court is very observant about the prison conditions since some of the current cells are not adequate.Minister Duncan said that at least 15 cells at the Pointe Blanche Prison have to be repaired to meet international standards. Besides that discussions are underway to either expand the Pointe Blanche Prison or build a new facility elsewhere. Duncan also reacted to an article published in one of the daily newspapers regarding the Dutch reaction with regards to financial assistance to St. Maarten. He said he knew from the inception that the Dutch was not willing to assist St. Maarten financially. He said recently he received a letter from the Dutch that indicated they were willing to help St. Maarten find human resources but they have no money to assist with technical assistance.The Minister agreed that St. Maarten’s Prison facility is overcrowded but this he said did not happen when the island attained its country status. “The overcrowding at Pointe Blanche has been going on for a while now. Of course the problem is one that country St. Maarten would have to deal with but the country Netherlands Antilles failed to do what they had to do. I am considering a plan for a turn-key prison system which will allow Pointe Blanche Prison to house 315 prisoners.” The Minister said if a new facility is added to the existing prison facility in Pointe Blanche then that would cost St. Maarten between 60 to 80 million guilders, with a lease cost of 67 million per year for the next 30 years.Youths in Jail.The Minister also made clear that the prison population is made up of mostly youths. He said while he read somewhere that prevention might be helpful, he is not sure if training the youths differently would make a difference. The Minister said that if people continue to buy stolen items from thieves then the island will not be able to get rid of its criminals. He said selling stolen items is a lucrative business but if the people in society stop buying stolen items, then crime will drop immensely since stealing will no longer be profitable. He said the time has come for the people to analyze themselves and wonder if they are also contributing to crime. Minister Duncan said it’s easy for the people to call on the police to capture the criminals but shortly after they would begin to complain about the inadequate prison facility.The Minister said his Ministry is also working on an early release policy which will allow the prison to release some of its prisoners depending on the crime they committed with electronic surveillance. Minister Duncan said while Electronic Surveillance is one of the possibilities used in early release programs its a very expensive way to monitor prisoners. He said that while these are some of the options that are being looked at, they have to be careful as hardened criminals who are in prison for a long period would also want to be considered for early release.Source: St. Martin’s News Network NewsPrint St. Maarten seeking to lease Prison Cells Abroad — Curacao has no space for St. Maarten Prisoners — Duncan. by: – March 17, 2011center_img Tweet Share Sharelast_img read more

Newcastle legend helps fight coronavirus condom shortage

first_imgFormer Newcastle footballer Tino Asprilla says he has 3.5m condoms in stock to help out in a reported global shortage of the contraceptive. And he is offering a “two-for-one” promotion on them too. He helpfully shared a link to the wesbite for purchasers. When asked about the idea behind ‘Tino’s’ condoms back in 2016, the 50-year-old said it all started when a photograph of him accidentally flashing his penis while playing a friendly match against Chile in 1993 made international headlines. Get the latest coronavirus news, facts and figures from around the world – plus essential advice for you and your family.To receive our Covid-19 newsletter in your inbox every tea time, sign up here.To follow us on Facebook, simply ‘Like’ our Coronavirus page.After the incident, the footballer said he then became a sex symbol in Colombia and his fame kept on growing after he represented the nation in the 1994 and 1998 World Cup tournaments. He said the business plan “seemed like a good idea” and added, presumably as a joke, that the then-Colombian coach Jose Pekerman had already called him asking if he could get some. Read Also:How I stopped hit man from killing Chilavert-Faustino Asprilla Asprilla jokingly said: “He is going to put the condoms over his head when Colombia is playing a match in Barranquilla in the rain!” FacebookTwitterWhatsAppEmail分享 After hanging up his boots in 2004, the Colombian decided to move into the sexual health field, and launched his own range of condoms in his homeland. According to the world’s biggest producer, a global shortage of sheafs is looming. Malaysia’s Karex Bhd makes one in every five condoms globally. It has not produced a single condom from its three Malaysian factories for more than a week due to a lockdown imposed by the government to halt the spread of coronavirus. That’s already a shortfall of 100 million condoms, normally marketed internationally by brands such as Durex, supplied to state healthcare systems such as Britain’s NHS or distributed by aid programmes such as the UN Population Fund.Advertisement Promoted ContentAmazing Ceilings From All Around The WorldCouples Who Celebrated Their Union In A Unique, Unforgettable WayWho Earns More Than Ronaldo?Who Is The Most Powerful Woman On Earth?9 Facts You Should Know Before Getting A TattooThe Highest Paid Football Players In The World10 Largest Cities In The WorldTop 7 Best Car Manufacturers Of All TimePlaying Games For Hours Can Do This To Your Body8 Fascinating Facts About Coffee6 Incredibly Strange Facts About HurricanesA Hurricane Can Be As Powerful As 10 Atomic Bombs Loading… last_img read more

Olympics boss reluctant to hold Tokyo Games behind closed doors

first_img Read Also: Adebayo Akinfenwa gets invite to Liverpool victory parade Tokyo governor Yuriko Koike last month told AFP she would make a “120 percent effort” for the Games to go ahead, pledging the Olympics would be safe despite the pandemic. On Wednesday Tokyo moved its coronavirus alert to red, the highest level, after a resurgence of cases in Japan’s capital. FacebookTwitterWhatsAppEmail分享 “For this reason, we are working now on multiple scenarios of the organisation of the Games with regard to the health situation of which we do not know how it will be in one year from now.” Loading…center_img Banning fans from the Tokyo Olympics is “clearly something we don’t want”, International Olympic Committee chief Thomas Bach said, adding that “multiple scenarios” were under consideration for the rescheduled Games. Bach said safety was the top concern for organisers of the Tokyo Olympics, which were due to start next week but have been postponed for a year over the COVID-19 pandemic. But he clearly signalled his reluctance to hold the Games at empty stadiums, now a common sight in sport as other competitions make a tentative return from virus-enforced shutdowns. “Olympic Games behind closed doors is clearly something we do not want,” the IOC president told reporters in a video call. “So we are working for a solution of the Olympic Games which, on one hand, is safeguarding the health of all the participants and, on the other hand, is also reflecting the Olympic spirit.” Bach and Japanese Prime Minister Shinzo Abe have both warned that it would be hard to postpone the Games beyond 2021, raising the nightmare scenario of the first Olympics to be cancelled in peace time. “The first priority is about the safety of all participants of the Olympic Games,” said Bach.Advertisementlast_img read more

Arsenal defender suffers injury setback, set to miss EPL opener

first_img Loading… Sokratis Papastathopoulos has been unfancied by Arteta ever since he arrived as manager but the Spaniard might be forced to turn to him in the coming weeks. Luiz penned a new one-year deal at Arsenal back in June, despite a difficult start to Arteta’s tenure at Arsenal. Read Also: No more Messi chase for now, says Inter vice-president Holding, meanwhile, was expected to depart for Newcastle for the duration of the 2020-21 campaign but impressed in Arsenal’s Community Shield triumph over Liverpool. He is now a frontrunner to start against newly-promoted Fulham, but Arteta faces an anxious wait before choosing his partner in the centre of defence. FacebookTwitterWhatsAppEmail分享 Arsenal boss Mikel Arteta is sweating over the fitness of key defender David Luiz after the Brazilian sustained a neck injury. According to The Athletic, Luiz’s issue requires particular caution and he could face an extended period of time out on the sidelines. As a result, Rob Holding is expected to remain at Arsenal rather than join Newcastle on a loan deal. Luiz is expected to miss Arsenal’s Premier League opener against Fulham on Saturday in the early kick-off at Craven Cottage. Arsenal are fearful that Luiz could face an extended period of absence with the neck problem If the Brazilian Luiz, 33, is set for a prolonged absence it would be a major blow for Gunners boss Arteta ahead of his first full season at the Emirates. Shkodran Mustafi, Calum Chambers and Pablo Mari are all returning to fitness after their own injury issues while new arrivals William Saliba and Gabriel are untested in the Premier League.Advertisement Promoted Content8 Things You Didn’t Know About CoffeePlaying Games For Hours Can Do This To Your Body17 Rare Churches Underground That Still ExistWorld’s Most Delicious Foods6 Interesting Ways To Make Money With A DroneWhat Are The Most Delicious Foods Out There?Couples Who Celebrated Their Union In A Unique, Unforgettable Way8 Fascinating Facts About Coffee10 Risky Jobs Some Women Do9 Facts You Should Know Before Getting A Tattoo9 Best Movie Robots Of All Time8 Superfoods For Growing Hair Back And Stimulating Its Growthlast_img read more

Unbeaten Guyana eyeing Regional Under-19 one-day title

first_imgBASSETERRE, St Kitts, (CMC) – Guyana enter today’s final round of the Regional Under-19 One-Day Championship in pole position to take the title, after trouncing the previously unbeaten Trinidad and Tobago by eight wickets on Saturday.Playing in the sixth round contest at Conaree, Guyana easily chased down the 111 set for victory to win their fifth game and remain unbeaten in the competition.Today, the Guyanese take on Windward Islands.Opting to bowl first, they bundled out T&T for a paltry 110 off 35.4 overs, with West Indies Under-19 star Kirstan Kallicharan top-scoring with 48 off 64 balls, with six fours and two sixes.Young Windies off-spinning all-rounder, Bhaskar Yadram, claimed three for 19 while left-arm spinner Keshram Seyhodan (2-4) led three bowlers – Ashmead Nedd (2-24) and Richie Looknauth (2-27) – with two wickets each.In reply, Raymond Perez slammed 47 not out and Joshua Persaud, 44, in an up tempo 78-run stand for the first wicket.Perez faced 69 balls and counted five fours and one six while Persaud belted five fours and two sixes in a 45-ball cameo.At Warner Park, Barbados scraped their first win of the tournament when they easily got past Jamaica by eight wickets.Set 146 for victory, Barbados were guided home by Kadeem Alleyne who stoked an unbeaten 61 off 58 balls with three fours and two sixes.He put on 73 in an unbroken third wicket stand wit Marc Cyrus who made 27 not out.Opting to bat first earlier, Jamaica were carried by opener Shavar Christie whose 71 included six fours and a six and lasted 132 deliveries.In the other game at Molyneaux, Windward Islands beat ICC Americas by 50 runs.last_img read more

Premier League extends shutdown with end-date left open

first_imgBy Simon Evans(REUTERS) – English soccer will be suspended until at least April 30 due to the coronavirus crisis, but the current season can be extended indefinitely, the English game’s governing bodies said in a joint statement yesterday.The Football Association, Premier League, EFL and women’s professional game bodies, along with players and managers associations, agreed to extend the formal end-date for the 2019/2020 season in a bid to complete the campaign.“We are united in our commitment to finding ways of resuming the 2019/20 football season and ensuring all domestic and European club league and cup matches are played as soon as it is safe and possible to do so,” the organisations said following a video conference meeting yesterday.Last week all elite soccer matches in England, including the Premier League, Football League (EFL) and Women’s Super League (WSL) were suspended until April 4.With non-league, youth and amateur football having also subsequently suspended play, the English game is in a state of total shutdown.European soccer’s governing body UEFA agreed on Tuesday to postpone Euro 2020 for a year, clearing space in the calendar for domestic competitions to finish – if the public health situation allows.FA rules say the season should end by June 1, but the decision was taken to extend that into the summer. “The progress of COVID-19 remains unclear and we can reassure everyone the health and welfare of players, staff and supporters are our priority,” the joint statement said.“We will continue to follow Government advice and work collaboratively to keep the situation under review and explore all options available to find ways of resuming the season when the conditions allow.”last_img read more