PREMIUM‘Bill will push central bank into dark age’: Experts voice concerns over BI Laws revision

first_imgFacebook Log in with your social account Linkedin LOG INDon’t have an account? Register here Forgot Password ? Experts and rating agency have voiced their concerns over the recent draft revision of the Bank Indonesia (BI) Laws, which is feared will undermine the central bank’s independence and prudence amid the economic risks the country faces during the COVID-19 pandemic.The bill, which was proposed by the House of Representatives’ legislation body, states that the central bank’s mandate will be to manage the rupiah exchange rate and inflation as well as boosting economic growth and helping to ensure sustainable job creation. The prevailing laws mandate BI to manage inflation and the rupiah exchange rate.The draft revision also scraps all existing articles stipulating BI’s independence in monetary policy making, which it was granted in the wake of the Asian financial crisis to help ensure the country had a prudent central bank. Instead, the draft revision requires… Google Topics : bank-indonesia central-bank independence monetary-policy Moodys-Investors-Service BI-Law-revision economic-growth finance-ministerlast_img read more

Pension fund for Dutch hairdressers loses 0.7% due to rising rates

first_imgThe pension fund’s 62% return portfolio produced an overall result of 7.8%, with its equity holdings (32.4%) generating a 14.8% return.US and European equities returned 26% and 20%, respectively.In contrast, the scheme lost 9% on its emerging market holdings, having recently increased the allocation at the expense of investments in Japan and Asia.Kappers’ 9.5% property portfolio returned 0.34%, while its 20.6% credit allocation delivered 2.3%.The industry-wide pension fund for hairdressers and barbers reduced its contribution from 8.6% in 2013 to 7.5% in 2014, while lowering its annual pensions accrual from 0.85% of salary to 0.81%.To raise its coverage ratio to the minimum required level of 105.3%, the scheme had to apply a 2.8% rights cut last April, following a 7% discount last year.At May-end, its funding stood at 109.7%.The board said it expected that any new funding shortfall would be eliminated under a new pensions contract based on the financial assessment framework (FTK).It added that it decided to pay its trustees and chairmen a fixed annual amount of €25,000 and €40,000, respectively.The pension fund reported administration costs of €122,50 per participant and asset management costs of 0.45% of its assets. At year-end, it had 20,750 active participants, 36,750 deferred members and 2,380 pensioners. Kappers, the €457m pension fund for hairdressers and barbers in the Netherlands, lost 0.7% on its investments last year due to the effect of rising interest rates on its fixed income holdings and interest derivatives.On balance, its 37% matching portfolio of government bonds, interest derivatives and mortgages lost 12.2%, according to its 2013 annual report. The largest loss – almost 17% – was produced by the scheme’s 28.6% allocation to government bonds and interest swaps, meant to hedge the interest risk on its liabilities.Mortgages investments, on the other hand, returned almost 7.4%.last_img read more

10 Good Reasons To Change The Anti-Smacking Law – Reason #9 – “David”

first_img“David” had malicious claims made about his parenting which resulted in serious charges being laid. He was acquitted in court BUT because he admitted that he had given occasional smacks to his sons over their lifetime, he had to go all the way to the Court of Appeal to get acquitted of these convictions – yes, for light smacking! In the process he lost his job, his money, his dignity, and worst of all, his children. And despite his eventual acquittal, the Family Court still won’t give him access to his boys. Watch and Weep. And be thankful it hasn’t happened to you….. but could it? This second short clip is this week’s example of “10 Good Reasons to Change the Anti-Smacking Law.” It’s the evidence that politicians (and the media) don’t want you to see. So take a couple of minutes to watch and judge for yourself.     In 2009, John Key ignored an overwhelming result in the Referendum and said “If I see good parents getting criminalised for lightly smacking their children for the purposes of discipline, I’m going to change the law.” Here’s the evidence. To see ALL the evidence, go to our updated and new look website www.protectgoodparents.org.nz . You can view the full documentaries “Mum on a Mission” (2014) and “My Mummy’s A Criminal” (2011). There has been over 7,000 views on Youtube already of the full documentary and the individual episodes! It’s time we held the politicians to account on a failed law which is doing more harm than good. It’s time the politicians listened to YOU!WHERE DO THE POLITICAL PARTIES STAND?last_img read more

Porter, Nelson win Merced IMCA features

first_imgMERCED, Calif. (June 20) – Ryan Porter won the 20-lap Xtreme Motor Sports IMCA Modfied fea­ture Saturday at Merced Speedway.Michael Shearer and Bob Williamson shared the front row for the feature, and Shearer set the early pace. Bill Egleston and last-starting Porter were soon in the lead battle. The third generation in his family to race at Merced, Porter soon grabbed the lead and sped home to his second win of the season.Egleston got his title hopes back on track with a second ahead of the steady Shearer.After coming as close as second this year, hard charger and two time hobby stock champion Bruce Nelson bested a 14 car Karl Chevrolet Northern SportMod field for his first win of the season at Merced.Nelson had his hands full early with Jared Tickel jumping out to an early lead through a myriad of early yellows. However, Nelson made the low groove work well enough to take the lead by lap six of the 20-lap event.Once in front, Nelson led the rest of the way and brought it home to a well earned victory.  Tickel settled for second and Mark Odgers outdueled point leader Josh Hensley for third.Merced will be dark for a couple weeks before returning for the Ted Stofle Classic the second week­end of July.  Sanctioned Modifieds and SportMods headline that event.last_img read more

IMCA Modified Madness at Davenport pays $2,000 to win

first_imgKyle Brown is the defending winner of Davenport Speedway’s IMCA modified Madness 50 special. (Photo by Alan Goacher)DAVENPORT, Iowa – A top prize of $2,000 and a berth on the ballot for the Fast Shafts All-Star Invitational are at stake Friday, May 19 at Davenport Speedway’s IMCA Modified Madness 50 special.The main event pays a minimum of $100 to start. IMCA Speedway Motors Weekly Racing National, Side Biter Chassis North Central Region and Allstar Performance State points, but no track points will be awarded.There is a $50 entry fee.Pit gates open at 4:30 p.m. and the grandstand opens at 5 p.m. Hot laps are at 6:15 p.m. with racing to follow.Spectator admission is $15 for adults, $13 for seniors and students, and free for kids ages 12 and under. Pit passes are $30.IMCA Late Models and Karl Chevrolet Northern SportMods are also on the Friday program, racing for all points.More information is available at the www.davenportspeedway.com website or by calling 563 340-4079.last_img read more

Blues close gap on leaders

first_img Jose Mourinho believes it is not possible to compare the talents of any of his strikers with the individual brilliance of Manchester City’s Sergio Aguero or Luis Suarez of Liverpool and the Portuguese is frustrated at their goal return. But Torres scored the opener in a win which means Chelsea could go top of the Premier League at Christmas with victory over Arsenal at the Emirates Stadium on December 23. Palace harassed and harangued Chelsea early on, so much so that the Blues could not string a meaningful period of possession together. When they did the warning was there for the Eagles, as Julian Speroni saved Ramires’ volley. Moments later, the goalkeeper turned a stinging shot from another Brazilian on to the post, but Willian’s effort rebounded for Torres to pounce and tuck in. Branislav Ivanovic and Essien shot off target as Chelsea continued to pile the pressure on Palace, who were forced into an early change when Kagisho Dikgacoi was replaced by O’Keefe. Cameron Jerome forced Cech into a save as the Chelsea defence backed off before the visitors equalised through former Arsenal striker Chamakh. David Luiz rushed out from defence towards Jason Puncheon, who found Joel Ward on the left and Chamakh found space as marker John Terry lost his man and the Moroccan clipped the ball in beyond Cech. Palace’s joy did not last for long as Willian fed Hazard, who cut in dangerously before teeing up Ramires on the edge of the area. The midfielder took one touch before curling a sumptuous right-footed effort into corner. Hazard tried to create another when he evaded Mariappa, ran along the byline and set up Willian, but his deflected shot was easily saved, causing Mourinho to kick a bag in his technical area in frustration. If anyone expected Chelsea to cruise in the second half, Palace had other ideas. Puncheon had a shot saved on the counter attack after escaping the attentions of Azpilicueta before his dangerous cross from a free-kick saw Damien Delaney head straight at Cech. Delaney made a well-timed tackle to deny Ivanovic in the area before Mourinho turned to Oscar, who replaced Mata. The Brazilian could not spark Chelsea into action and instead the Blues had to rely on Cech to stay in front after Jerome found O’Keefe, whose first shot was excellently saved and his second blocked by Ivanovic before the ball was scrambled clear. Delaney headed wide from a corner moments later after escaping the attentions of Chelsea’s defence, who appeared vulnerable. Ramires fluffed a golden opportunity for a third. Oscar won the ball from two Palace defenders, but Ramires could not decide whether to shoot or pass to three of his waiting team-mates. Speroni made three saves in quick succession to deny substitutes Andre Schurrle and Demba Ba, as well as Ramires, but in the end the failure to find a third did not prove costly as Chelsea triumphed Torres netted his second Premier League goal of the season – the fifth by a Chelsea striker and the Spain man’s first since his winner in the October defeat of Manchester City – after 16 minutes. While Chelsea’s strikers are struggling for goals, Marouane Chamakh’s hot streak continued as he scored for a third straight game to equalise and show some of the failings present in Mourinho’s defence. Palace, who had won their previous two games, had parity for just six minutes as Ramires struck from the edge of the area, after being set-up by the impressive Eden Hazard, to restore the hosts’ advantage. Those expecting Chelsea to romp away with the points and fire a warning to both Arsenal and Manchester City were mistaken and the hosts were indebted to Petr Cech when the goalkeeper saved from substitute Stuart O’Keefe. Despite the shaking foundations, still Stamford Bridge remains a fortress, as Chelsea extended their unbeaten home run in the league to 16 games and Mourinho’s home league record to 68 undefeated. Chelsea won at Arsenal in the Capital One Cup earlier this season and now have to put the Gunners clash to one side as first they play at Sunderland in Tuesday’s quarter-final. Torres and Ramires were included as two of five changes following the unconvincing midweek defeat of Steaua Bucharest. Michael Essien, Juan Mata and Cesar Azpilicueta, preferred to Ashley Cole, all started against a Palace side showing one enforced change from the 2-0 defeat of Cardiff, with Adrian Mariappa replacing Dean Moxey at right-back. Fernando Torres and Ramires were on target as Chelsea moved within two points of Barclays Premier League leaders Arsenal with a 2-1 defeat of Crystal Palace. Press Associationlast_img read more

NBA coach visits Bucksport

first_imgMaine native and NBA coach Steve Clifford speaks to Bucksport High School students Tuesday.BUCKSPORT — Maine native Steve Clifford is living proof that where you’re born and raised doesn’t determine your path to success.Clifford, who was born in Mattawamkeag and began his basketball coaching career three decades ago with the Woodland Dragons in Baileyville, is now head coach of the Charlotte Bobcats in the National Basketball Association.At the invitation of his brother, Dan, who is principal at Bucksport High School, Clifford spent Thursday morning sharing basketball anecdotes, a little of his own history and words of inspiration with students there.Clifford still recalls his debut as Woodland coach, facing off in Bucksport against a team that went on to win the Eastern Maine Class B championship.This is placeholder textThis is placeholder textIt was hardly an auspicious beginning.“We got smoked,” he recalled, drawing an eruption of laughter from his audience.But he went on to emphasize that those early experiences helped shape the life and career he enjoys today.“It’s not where you’re from, it’s your approach,” said Clifford, noting that there are thousands of athletes across the country with as much talent as those you watch on TV.It’s their approach to being the best they can be that sets them apart, he said.This year saw Clifford guide the Bobcats, owned by basketball great Michael Jordan, to only their second playoff appearance in 10 years. He finished fourth in voting for NBA Coach of the Year.Find in-depth coverage of local news in The Ellsworth American. Subscribe digitally or in print. Is this the kind of government we deserve? – July 10, 2017 Latest posts by Hugh Bowden (see all) Bio Hugh BowdenExecutive EditorHugh writes editorials, covers Hancock County sports and helps out where needed in The American’s editorial department. When he’s not on the sidelines, he enjoys playing jazz and tennis. hbowden@ellsworthamerican.comcenter_img Latest Posts GSA surges in 4th to win Northern Maine title – February 26, 2017 Like he did in the ’60s, Noel Paul Stookey sings out in troubling times – December 27, 2017last_img read more

The Latest: Panthers won’t have fans for their NFL opener

first_imgThe Latest: Panthers won’t have fans for their NFL opener ___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports ___Champions League quarterfinalist Atalanta says three of its players have tested positive for the coronavirus.The Serie A team says in a brief statement that all three players show no symptoms after the preseason tests and have been isolated.Reserve goalkeeper Marco Sportiello was the only Atalanta player who tested positive during the lockdown.The Italian league starts on Sept. 19. “In the spirit of adaptability, expect the NFLPA to push for modifications or updated recommendations — such as the continuation of daily testing — as the season progresses and new information becomes available,” Tretter, the starting center for the Cleveland Browns, posted on the union website. “We will continue to rely on scientific data to inform our approach for combating this virus. As the science evolves, we will evolve with it.”Tretter added he was pleased with the protocols the NFL and NFLPA agreed on for training camps. The league has reported few positive cases in the past month, though it did have 77 false positives a week ago that resulted from contamination at the testing lab.___The San Francisco 49ers have placed linebacker Fred Warner on the reserve/COVID-19 list.Warner didn’t practice on Sunday and then was placed on the COVID-19 list the following day. The list is used for NFL players who either test positive for the coronavirus or have been in close contact with an infected person. Pollard said if mitigation actions are successful, Iowa State will allow season ticket holders to attend the game against Oklahoma on Oct. 3. He said if it’s determined mitigation measures were not followed adequately at the first game, no fans will be allowed the rest of the season.___North Carolina State says its women’s soccer team won’t play this fall.In a statement Monday, the school said the decision was due to a “depleted roster, the combination of injuries and not all members of its roster returning to Raleigh this semester.” It said N.C. State has notified the Atlantic Coast Conference of its decision.Players will continue to train with a focus on playing in 2021, or for spring competition if that becomes an option. The state of North Carolina remains in Stage 2 of reopening, and further updates from the Gov. Roy Cooper are expected next week.The Panthers are hopeful at least a limited number of fans will be allowed in for the Oct. 4 home game against the Arizona Cardinals, although much of that could depend on if Cooper moves the state out of Phase 2.In a statement Monday the team said it has worked “tirelessly” since March to develop and implement a responsible, comprehensive plan to ensure fans and enjoyable and safe game day experience. The Panthers said they were confident they could safely host a limited number of fans, adding that “this is not a choice between a full stadium or an empty stadium. We have offered compromises and alternatives.”___The first four World Cup speedskating events of the 2020-21 season have been canceled because of COVID-19. The Argentine club did not say how many players were infected, but added they are in good shape. Boca says all of its players are quarantined in a hotel outside Buenos Aires.It has suspended training for the next 72 hours.___The Iowa athletic department is pausing workouts for all sports until after Labor Day following a major uptick in the number of coronavirus cases. The French league granted PSG’s request for extra days of rest, and the team’s scheduled opening game at Lens was postponed until next week.___Iowa State will allow about 25,000 football fans into Jack Trice Stadium for the Cyclones’ opener against Louisiana-Lafayette on Sept. 12.Athletic director Jamie Pollard wrote in a letter to fans on Monday that the crowd will be made up of season ticket holders only. Fans will be required to wear face coverings at all times and no tailgating will be allowed. Pollard asks that fans respect others’ wishes for physical distancing.“An important factor in the decision to allow fans is our belief that Cyclone fans are willing to adhere to our mitigation measures,” Pollard wrote. “The purpose of this letter is to ask for your support in helping create a safe environment while also providing our team an impactful home field advantage. This is an incredible opportunity for Iowa State University to showcase its ability to successfully navigate the challenges associated with large outdoor events during a pandemic.”center_img Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The NFL’s Carolina Panthers will not have fans in the stands at Bank of America Stadium for their Sept. 13 home opener against the Las Vegas Raiders due to the coronavirus pandemic. Warner is the third 49ers player to be placed on the list this summer. Receiver Richie James Jr. and running back Jeff Wilson Jr. each had short stints on the list early in training camp.___Paris Saint-Germain says two of its players are suspected of being infected with COVID-19.The French champion cites a “reassuring” state of health for the players, who were not identified. They are said to be following the required health protocols.Eight days after losing the Champions League final to Bayern Munich, PSG is not due to start the French season until Sept. 10. Associated Press The International Skating Union announced Monday that stops in Poland, Norway, Canada, and Salt Lake City, were shelved along with short-track events in Montreal and Laval, Quebec. The canceled events were scheduled for November and December.The ISU says it is evaluating a hub concept in the Netherlands as an alternative to the first four World Cups.The ISU says it’s still evaluating whether to go ahead with short-track events in Seoul, South Korea, and Beijing in December.___Boca Juniors says it has COVID-19 cases in its squad, threatening preparations for its first Copa Libertadores match on Sept. 17. August 31, 2020 The department says there were 93 positive results out of 815 COVID-19 tests taken between last Monday and Sunday. Since the return-to-campus protocol began May 29, there have been 176 positive results and one inconclusive out of more than 2,700 tests.The Hawkeyes are members of the Big Ten Conference, which announced three weeks ago that it would postpone fall sports until the spring.___NFL Players Association President J.C. Tretter is pushing for daily COVID-19 testing during the regular season.The NFL has been conducting daily testing for players throughout training camp and plans to do so through Saturday.last_img read more

West Indies move up to ninth in T20I

first_imgCMC – Reigning Twenty20 world champions, West Indies, have moved up to ninth in the International Cricket Council’s rankings, gaining one place after languishing in 10th for several months.Though there has been a cessation of all cricket globally due to the global novel coronavirus pandemic, the ICC revised the rankings to eliminate results from the 2016-17 period.As a result, West Indies gained three points from the ICC update to move to 229 points while Afghanistan dropped five points to slip to 228 points, and down to 10th in the rankings.After a run of poor results, West Indies found their best form last March, crushing Sri Lanka 2-0 in a two-match series in Pallekele.However, the series win was only the Caribbean side’s second in 10 outings, a run of form which had led to their steady slide down the rankings.In fact, since their capture of the T20 World Cup in India four years ago, West Indies have won just four of 15 series, excluding one-off matches.For their part, Afghanistan have won their last six bilateral series, including a 2-1 verdict in a three-match series against West Indies in India last November.Australia, meanwhile, have climbed to the top of the T20 standings for the first time since they were introduced in 2011, with England moving into second spot and India assuming third position.Pakistan, who spent the last 27 months at the top, have slumped to fourth.The T20 World Cup is scheduled to be played in Australia from October 18 to November 15 but could be scrapped as the world remains in lockdown because of the COVID-19 outbreak.last_img read more

Spanish star excelling on UW pitch

first_imgGREG DIXON/Herald photoThe No. 21 UW men’s soccer team has jumped out to one of its best starts in recent years with a 4-1-1 record. Much of its success has come from the leadership and skill of junior midfielder, Pablo Delgado.Delgado has already earned honors as Big Ten Offensive Player of the Week and Offensive MVP of this year’s Middleton Sports and Fitness Invitational. Delgado, a native of Madrid, was playing Third Division soccer when he decided to make his move to the States. With his former Spanish teammate, senior forward Victor Diaz, senior forward, at UW, Delgado decided to follow him a year later. Diaz encouraged Delgado to come to Madison, citing its great atmosphere, education and soccer program.“It’s important to have [a degree] on your back,” Delgado said. “I thought that the best thing would be to get my degree and also to play at a top level.”But that’s not to say he doesn’t miss home.“Of course you miss your family, your friends, your bed,” Delgado said. “But the life here is great. I cannot complain.”Since setting foot on campus, Delgado has gained a lot of confidence, an education and a broader view of the world.“My mind was opened. I’m open to whatever. I can go anywhere right now,” he said. Delgado has shined offensively in the beginning of the season, scoring two crucial goals and tallying three assists in his first six starts. He is also fifth in the team in minutes played. Head coach Jeff Rohrman has credited this to his work ethic and his playing in a more offensive position this year.“He has very good attacking qualities but also a willingness to work on the defensive side,” Rohrman said of his Spanish star. “And we’ve been playing him a little bit closer to the goal this year.”Delgado credits his success to being fully healthy, after an injury-ridden sophomore year, and the team’s commitment to play together.“It’s great, I feel good, but what matters is the team,” Delgado said.Diaz feels the same way.“There’s great chemistry. Everyone’s working together towards the same goal, and that’s the most important thing,” Diaz said.Delgado’s contributions not only come from helping his team on the field but off it as well. Being the oldest and most experienced member of the team, Rohrman has referred to him as “the father of the team.”“He’s a quiet leader,” Rohrman said. “He brings maturity and calmness to the group.”Rohrman has been very impressed by Pablo’s willingness to soak in all the life at Madison as well.“The academics, campus life — he’s taking full advantage of it,” Rohrman said. “He brings a real refreshing view.”last_img read more