RBA won’t automatically follow US, Canada on interest rate rises: Lowe

first_imgRBA Governor Philip Lowe.RESERVE Bank Governor Philip Lowe has given the clearest sign yet that Australia will not automatically follow the United States and Canada in raising interest rates.He told the Anika Foundation Luncheon in Sydney today that Australia was “better placed” than others to allow for financial stability considerations to be taken into account when setting monetary policy.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoMr Lowe said a low inflation, low unemployment, low interest rate environment did pose medium-term risk given conditions were attractive to investor borrowing.But, he said, Australia’s monetary policy framework was better placed to deal with that than some others.“Elsewhere in the world, some central banks are now starting to increase interest rates and others are considering when to withdraw some of the monetary stimulus that has been put in place,” he said.“This has no automatic implications for monetary policy in Australia. These central banks lowered their interest rates to zero and also expanded their balance sheets greatly. We did not go down this route. Just as we did not move in lock-step with other central banks when the monetary stimulus was being delivered, we don’t need to move in lock-step as some of this stimulus is removed.”He said RBA’s decisions would “continue to be made within the framework of our medium-term inflation target” of between 2 and 3 per cent. “We are seeking to do this in a way that supports sustainable growth in the economy and that best serves the public interest.”last_img read more

ABP warns of ‘significant’ contribution rise in coming years

first_imgThe pension fund voiced its support for the new pensions contract without guarantees – allowing for earlier pension increases in good times, but also for reductions in periods of economic headwind – that is currently being fleshed out in the wake of the pensions accord.UnderperformanceThe board said it was not entirely satisfied with last year’s net result of 16.8%, as both equity and alternatives had failed to meet their respective benchmarks, and outperformance had declined over the past years.It credited the “volatile” investment conditions last year for failing to produce an optimal result.Underperformance amounted to 0.4 percentage points in total, with equity developed countries (-1.7%) and alternatives (-3.8%) in particular falling short of the norm portfolio.Private equity, infrastructure, commodities and hedge funds underperformed 6.8, 3.5, 0.9 and 0.7 percentage points, respectively, returning 22.3%, 13.3%, 16.5% and 7.1%, respectively.ABP noted that overweighting of alternatives had caused its active asset allocation policy to deliver negative results.Cumulative outperformance over the past five years had been 2.6 percentage points, largely thanks to private equity, credit and equity emerging markets. Cumulative extra returns over the past 10 years amounted to 8.2 percentage points, it said.In 2019, the civil service scheme had started implementing a three-year strategic investment plan, aimed at an asset mix of 60% securities and 40% fixed income holdings.It said it was meant to increase the focus on the real economy, including private equity, infrastructure and property, citing “better returns and diversification benefits”, and adding that the asset classes also fitted within its ESG policy.It added that the new investment approach was also aimed at benefiting from growth in emerging markets.The pension fund reported that its 25% interest hedge on its liabilities had contributed 1.8% percentage point to its overall result.In contrast, it had lost 1.4 percentage point on its partial cover of the main currencies. It attributed the result largely to the appreciation of the US dollar relative to the euro.CostsThe civil service scheme reported asset management costs of 57bps, including 24bps for performance fees, and said it spent 9bps on transactions. Administration costs per participant amounted to €68.It reported that its inflation compensation in arrears had increased to more than 19%.ABP has 3 million participants and pensioners, affiliated with 3,595 employers. It closed 2019 with total assets of almost €466bn. Its funding level of 95.8% at the time had dropped to 93% at the end of March.Looking for IPE’s latest magazine? Read the digital edition here. The €420bn Dutch civil service scheme ABP said its participants had to prepare for significantly higher contributions in the coming years, as pensions provision had become too expensive for the current arrangements.In its annual report for 2019, it said the current premium of 24.9% was too low given the low interest rates and the expected lower returns.It also said its board had already decided to gradually reduce the discount rate for the scheme’s future expenses from the current 2.8% to 2% as of 2023.It added that the social partners of unions and employers would get the opportunity to gear pension arrangements to the new financial reality, and that it would decide on next year’s contribution level in November.last_img read more

Child abuse action plan already slammed

first_img3 News 23 Aug 2012The Government’s “action plan” to tackle child abuse and illness is being described as a rehash of previously-announced goals which avoid the real issues. Social Development Minister Paula Bennett, Health Minister Tony Ryall and Education Minister Hekia Parata launched the Supporting Vulnerable Children Action Plan at Parliament on Wednesday.It includes:* halting the rise in child abuse by 2017 and reducing current levels by five per cent* increasing infant immunisation rates to 95 percent of eight-month-olds by December 2014* reducing the incidence of rheumatic fever by two-thirds by June 2017* increasing participation in early-childhood education to 98 percent in 2016.The policies are not new – their funding was announced in the May budget.….Labour has replied with a statement from three of its senior MPs – social development spokeswoman Jacinda Ardern, health spokeswoman Maryan Street and early childhood education spokeswoman Sue Moroney. “This shows the Government is out of ideas and is desperately trying to avoid the real issues facing parents and children,” they said. “It’s ambulance at the bottom of the cliff stuff… the Government is focusing on intervention rather than prevention.” The MPs say the government isn’t dealing with the rising cost of early childhood education that cuts thousands of children out the system and isn’t tackling the causes of illnesses like poor quality housing. “Until it does, initiatives such as this will be little more than words and good intentions,” they said.http://www.3news.co.nz/Child-abuse-action-plan-already-slammed/tabid/1607/articleID/266453/Default.aspxlast_img read more

The Dominica Council on Ageing to strengthen ties with Martinique Affiliates

first_imgLocalNews The Dominica Council on Ageing to strengthen ties with Martinique Affiliates by: – August 9, 2011 78 Views   no discussions Tweet Share Sharecenter_img President of the Dominica Council on Ageing. Photo credit: GIS NewsThe Dominica Council on Ageing (DCOA) is seeking to strengthen ties with one of its affiliates; Que Vivre Verra Association’, of Martinique, a collaboration that has been existing since 2008.Members of the French Association over the weekend, made their fifth visit to the island, where they were hosted by members of the Dominica Council on Ageing.President of the DCOA, Mr Evander Joseph said that during their short stay on the island, the group will have the opportunity to socialize with the DCOA members and enjoy the peace and tranquility of Dominica.“The purpose of being here is to be with us, to socialize, to enjoy the peace and tranquility of Dominica. Basically we are here, all of us for three main purposes; to renew and further strengthen the ties with the council on ageing, to discover some of the touristic delicacies offered by the Nature Island and with the Que Vivre Verra Association; to have a collaborative and mutually beneficial action,” said Joseph.President of the French Affiliate group, Madame Caroline said that the group has indeed been here five times; they came to Dominica in 2005 on two cruise ships and two other times they stayed at Chez Ophelia which is owned by one of the active members of DCOA.She said that although there were a few hiccups that prevented them from visiting the island between 2008 and now, she would like to assure the DCOA they are still in high spirits and their friendship is still strong.She explained, “it is largely due to the fact that there were some events that were dramatic and unforeseen that prevented us from visiting Dominica. I would like to assure you that the Que Vivre Verra Association is not dead! We are willing to develop the partnership that we have entered into since 2008. There are many ways of exercising a partnership and I want to indicate that we will do it in an original fashion”.DCOA Inc was established in 1993 and registered under the Companies Act in 2004 as a non-profit organization. Its mandate is to empower older persons in Dominica through promoting and facilitating implementation of the United Nations Principles of Older Persons and to address issues, which adversely affect older persons in the society.DCOA Inc.’s constituency base is with individuals or groups of older persons and other groups concerned with care of older persons, both here in Dominica and on the regional and international circuit.Members of the council include Ministries of Government (Health and Social Security and Community Development and Gender Affairs), corporate members, such as other NGOs and businesses, and honorary members who are chosen on account of service provided to the organization. DCOA currently has approximately 25 corporate members and 18 individual members.Dominica Vibes News Sharing is caring! Sharelast_img read more

At least 3 dead after 6.5 magnitude earthquake rocks Mindanao anew

first_img Meanwhile, no one was trapped after Eva’s Hotel in Kidapawan City also collapsed due to the quake. Part of a wall at the Gaisano Grand Koronadal in South Cotabato was heavily damaged but no one was reportedly hurt./PN MANILA – Atleast three persons were killed after a 6.5 magnitude earthquake jolted Tulunantown in Cotabato Thursday morning – the same area wherea strong tremor killed at least eight people and wounded more than 300 otherson Tuesday. This hotel in Kidapawan City is in near collapse after a 6.5 magnitude earthquake hit Mindanao on Thursday morning. Impacts are currently being monitored after structural damage in several buildings were reported in the region caused by the powerful quake. CONTRIBUTED PHOTO National Disaster Risk and Reduction Management Council spokesperson Mark Timbal said that the temblor felt yesterday was not an aftershock of the previous earthquakes that struck the region. According to theOffice of Civil Defense 12, the three fatalities were from Makilala town inNorth Cotabato. As of this writing, the number ofwounded individuals cannot be determined yet as rescue operations are stillongoing. Meanwhile, due to the Thursday’s quake, nine people sustained injuries after Ecoland 4000 condominium building in Davao City sustained heavy damage. They were all brought to the hospital due to minor injuries. The said building is a five-story structure; its ground floor, where the carpark was located, collapsed. The front portion of the building also sustained huge cracks with some glass windows broken.center_img He added: “What we have received here is that ipinapakita nito na high ang seismic activity doon sa area, may mga fault na present sa area. They have shown activities lately,” he added. In Digos City, Davao del Sur, two workers were injured after a portion of the ceiling and canopy of a store collapsed. They were retrieved from the rubble and were rushed to the hospital. The Philippine Institute of Volcanology and Seismology (Phivolcs) a “destructive” Intensity VII shaking was felt in Tulunan; Kidapawan City; Sta. Cruz, Matanao, Bansalan, and Magsaysay in Davao del Sur. A “very strong” Intensity VI was also experienced in Tampakan, South Cotabato. “According to our contacts in PHIVOLCS, this is a separate incident. This is not connected. It is a separate incident from Oct. 29 and 16,” Timbal said in a press conference.last_img read more

Businesses urged to follow COVID health protocols

first_imgThus, she filed a resolution requesting all business establishments that are allowed to operate in the city to comply with the minimum health standards. The SP recently approved this measure during its regular seeesion.  “Some establishments failed to enforce physical distancing. They allow their customers to get inside without considering their number nor they place lanes with proper distance for queuing clients,” the councilor said. BACOLOD City – The Sangguniang Panlungsod here urged business establishments to strictly comply with minimum health standards issued by various government agencies intended to stem the transmission of coronavirus disease 2019 (COVID-19). This move came after Councilor Simplicia Distrito revealed that several establishments in the city failed to comply with the guidelines issued by the Department of Health (DOH), Department of Trade and Industry, and the Department of Labor and Employment. She also pointed out that establishments should not take health protocols for granted, saying these are among the best ways to reduce or to stop the spread of the infection. There are even pharmacies operating without plastic barriers with personnel not wearing face shields or face masks, Distrito added. DOH Administrative Order No. 2020-0015 mandates that barriers must be installed to practice physical distancing and as a way to prevent transmission of COVID-19./PNlast_img read more

December 8, 2017 Police Blotter

first_imgDecember 8, 2017 Police Blotter120817 Batesville Police Blotter120817 Decatur County EMS Report120817 Decatur County Fire Report120817 Decatur County Jail Report120817 Decatur County Law Reportlast_img

10 EPL clubs ‘reject’ Newcastle takeover by Saudi consortium

first_img An investigation by the US government has already said to have found links between BeoutQ and the Saudi government, potentially scuppering the Newcastle deal, given the scam has a negative impact on the Premier League’s commercial rights and revenue. The PIF have maintained they have no involvement in the piracy issue but that is difficult to conceive given Bin Salman’s standing within the Saudi regime. Uncertainty surrounding the deal with the Saudi consortium is now said to be unsettling Ashley, and forcing him to weigh up his options. He has another offer on the table from US media mogul Henry Mauriss, who has been inspired by the progress made by Fenway Sports Group at Liverpool, and wants to incorporate a similar model at Newcastle. Loading… Read Also: Premier League chiefs, coaches at war over June 12 restart date After the Portuguese left Real Madrid for Juventus, he said: “It was nice to play against Cristiano, he made Madrid a stronger side. I said at the beginning of the season that Madrid would miss him, as any team would. “It made a lot of Madrid fans a bit angry but that is the reality. Any team would miss him. He scores 50 goals a season and he was the key player for them, of course they were going to miss that.” FacebookTwitterWhatsAppEmail分享 Newcastle’s takeover bid is reportedly facing opposition from up to 10 Premier League clubs as Mike Ashley sweats over completion of the deal. The consortium backed by Saudi Arabian Crown Prince Mohammed Bin Salman is waiting to hear whether their £300million takeover will be passed through by the Premier League.center_img But there are growing concerns from other top-flight sides about the takeover, and they could now urge the Premier League to block the change of ownership. The Sun report that concerns are in relation to allegations surrounding Saudi’s problem with piracy. Legal documents obtained by Premier League chiefs suggest Saudi Arabia was supporting BeoutQ – a streaming platform which was found to be illegally broadcasting sporting events, including top-flight football fixtures. Former Sky Sports presenter Richard Keys has claimed that such a scam had robbed his current employers beIN Sports of “millions – possibly billions”. Should the allegations prove true, it would raise serious question marks over the credibility of the Saudi Arabian Public Investment Fund (PIF) looking to take charge of Newcastle. The takeover is already open to scepticism due to Saudi Arabia’s dismal human rights record, and the PIF still need to pass the Premier League’s fit and proper persons test. Promoted Content10 Risky Jobs Some Women Do6 Ridiculous Health Myths That Are Actually True7 Universities In The World Where Education Costs Too Much18 Cities With Neverending Tourist-Flow8 Superfoods For Growing Hair Back And Stimulating Its GrowthWhich Country Is The Most Romantic In The World?11 Items You’ve Been Using Wrong Your Whole Life11 Strange Facts About Your Favorite TV ShowsYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeBirds Enjoy Living In A Gallery Space Created For Them9 Facts You Should Know Before Getting A TattooThe Very Last Bitcoin Will Be Mined Around 2140. Read Morelast_img read more

Messi blasts Barca bigwigs after stars agree pay cut

first_imgRelatedPosts Vidal lands in Milan to complete move from Barca to Inter Barca president Bartomeu says he won’t go to war anymore with Messi Messi wins court case against cycling company over logo Lionel Messi has hit out at Barcelona’s bigwigs for their handling of pay cut measures at the Nou Camp. The Catalan side, like the majority of sporting organisations around the globe, are looking for the best way to handle the financial ramifications of the coronavirus pandemic. Laws in Spain allow the club to apply for an ERTE, which means they can impose a temporary pay cut of up to 70 per cent on their employees during these unprecedented times. Messi and his teammates will take the deduction but the law would have meant non-playing staff also had to accept the same cut. The Argentine though released a statement on his Instagram which stated the club’s employees would retain the entirety of their salary. It read: “Beyond the reduction of 70% of our salaries during the state of alarm, we are also going to make further contribution to ensure that the employees can continue to be paid 100% of their salaries for as long as this situation lasts.” But the statement also showed mounting tension at the club with Messi also writing about how the players were willing to take a pay cut, yet a negotiation seemed so hard to come by. Media leaks had made it seem as if the squad were opposed to reducing their income, which the Argentine maintains is not the case. “A lot has been written and said about the football first team at FC Barcelona, when it comes to the players’ salaries during this state of alarm,” the statement opened. “First of all, we would like to clarify that we have always been willing to apply a wage cut, because we understand perfectly that this is an exceptional situation and we are ALWAYS the first to help the club when we have been asked to. “Indeed, we have often done so on our own initiative in those moments in which we have considered it important or necessary. “For that reason, we cannot help but be surprised by the fact that from within the club there are those trying to put us under the microscope or apply pressure for us to do something that we have always been clear that we would do, “In fact, if an agreement has taken a few days to be reached it is simply because we were seeking a formula to help the club and also to help its employees in these very difficult times. “If we did not speak publicly before, it was because our priority was to find real solutions that could truly help the club and also those who are going to be most affected by this situation.”Tags: ERTEFC BarcelonaLionel MessiNou Camplast_img read more

Baldwinsville field hockey has no. 4 playoff seed

first_imgHaving missed a chance to get to the .500 mark, the Bees, at 7-9, awaited its playoff announcement. It arrived on Sunday, with the Bees realizing that it would have to win three times to earn a sectional title.The opening-round game has no. 4 seed B’ville against no. 5 seed Auburn. Win there, and the Bees would challenge top seed Fayetteville-Manlius in the semifinals, with the other semifinal pitting no. 2 seed Rome Free Academy against no. 3 seed Cicero-North Syracuse. The finals are Nov. 3 at Vernon-Verona-Sherrill.Share this:FacebookTwitterLinkedInRedditComment on this Story Now the Section III Class A playoffs are at hand, and Baldwinsville, eager to take back the sectional crown after Cicero-North Syracuse grabbed it in 2018, must find a scoring spark somewhere.That didn’t happen in last Tuesday’s match against Section IV powerhouse Vestal. Trying everything it could, the Bees attempted to limit damage, but still saw the Golden Bears beat them 5-0.It was a case of Vestal eventually wearing down B’ville’s defense. The score was only 1-0 at halftime before the Golden Bears got away, despite 11 total saves from Sarah Smiley and CaraVredenburg. Tags: Baldwinsvillefield hockeylast_img read more