The government has stated it will not sell sovereign debt papers with a zero coupon rate to Bank Indonesia (BI) as part of its efforts to close the widening state budget deficit despite pressure from lawmakers to do so.Finance Minister Sri Mulyani Indrawati said the government and the central bank were still discussing instruments that could be used to step up the country’s response to the pandemic, adding that this did not include zero-coupon bonds.The instruments would have to allow BI to “share the burden, but in the medium [and] long term we still continue to maintain the credibility of fiscal and monetary authorities in managing macroeconomic discipline in Indonesia,” Sri Mulyani said as quoted by Reuters on Tuesday. “We are seeing a dramatic increase in the budget deficit that will be a burden for the next 10 years, so sharing the burden with BI is key to managing the coronavirus without increasing the fiscal burden on development programs,” Sri Mulyani said recently.Indonesian lawmakers are putting pressure on the central bank to purchase zero yield government bonds in a bid to reduce the government’s burden.House Budget Committee chairman Said Abdullah urged BI on Friday to buy government bonds with a zero coupon rate to take part in “burden sharing” to help bolster the economy.Golkar Party lawmaker M. Misbakhun, separately, pushed the central bank to play a significant role in addressing the economic impacts of the crisis, noting that the country’s debt would rise significantly so that it could provide fiscal stimulus.“The mounting debt must be reduced with a low interest rate,” Misbakhun said in a statement on Tuesday. “Government bonds yields are currently 7 to 8 percent […] we need government bonds with a zero yield that can be bought specifically by Bank Indonesia.”Center of Reform on Economics (CORE) Indonesia research director Piter Abdullah, meanwhile, stressed the importance of prudent monetary practice.“The idea that the central bank should buy zero yield bonds is too extreme,” he said. “Unlike other investors, BI is not a profit seeker, so it would make sense for it to buy bonds with lower yields to lower the government’s burden, but again, not at zero yield.”Topics : She said the government and BI focused their discussion on finding a “very fine balance” so as to maintain prudent policy making, with the central bank called on to broaden its focus beyond inflation and rupiah stabilization.The central bank can now buy government bonds directly in auction using a market rate and as a buyer of last resort, as stipulated in Law No. 2/2020. Previously, BI could only buy government bonds on the secondary market.BI purchased up to Rp 166 trillion (US$11.75 billion) in government bonds on the secondary market during the first quarter of 2020 to stabilize the rupiah and another Rp 26.1 trillion to support budget financing needs, boosting the central bank’s ownership of government bonds to Rp 445.4 trillion.With the government having allocated Rp 695.2 trillion for fiscal stimulus to address the impacts of the coronavirus crisis on the economy and public health, it expects the budget deficit to reach 6.34 percent of GDP this year, more than double the prior legal limit of 3 percent.
Van Vledder said F&C’s proposals for improving strategic advice convinced Architectenbureaus it was the right partner, adding that, of the 24 potential candidates, three had been invited to tender for the contract.The contract will run for an indefinite period, but the scheme’s intention is to stay with F&C for 3-5 years.Van Vledder said Avida International acted as adviser during the tendering process.To further improve the board’s countervailing power, it has also appointed Triple A Risk Finance as additional adviser for asset-liability management.Willem Jan Boot, the pension fund’s chairman, said: “Among our targets were a proper insight into risks and management of risks, as well as limiting our dependence on parties we have contracted out our asset management.”Ben Kramer, CFO at F&C’s Netherlands, added: “The current economic climate has triggered a growing interest among institutional investors for an engaged partner that pro-actively advises the board and is critical if necessary. “Following the appointment of F&C as fiduciary manager, the pension fund’s board can now focus on essential issues, such as strategy and risk management.”F&C – recently taken over by the Bank of Montreal (BMO) Global Asset Management – has €100bn in assets under management.Its fiduciary proposition comprises advice, asset-liability management, asset allocation, derivatives management, the selection of institutional managers and advice on socially responsible investment. The pension fund has 7,065 active participants, 26,885 deferred members and 11,970 pensioners affiliated with more than 1,800 companies.Architectenbureaus, which had to cut pension rights by 2.8% last year, reported a coverage ratio of 109.4% at July-end.As a result of a decline in its sector, the number of active participants fell by 19% last year, and the board has indicated that it was expecting a further decrease in 2014. Architectenbureaus, the Dutch pension fund for architectural staff, has appointed F&C Netherlands as fiduciary manager for €3.2bn of its €3.5bn in assets. The scheme wanted to improve its asset management by separating fiduciary management from asset management and reporting and control, according to trustee Roeland van Vledder.He added that general asset management – and the management of Architectenbureaus’ 10% property allocation – would remain with PGGM and Syntrus Achmea Real Estate, respectively.“We wanted to separate the advisory role from the asset manager, by mandating F&C with strategic advice, hedging policy, the management of balance risk and monitoring the asset manager,” said Van Vledder, who is also chairman of the pension fund’s investment committee.
However, it emphasised that pension funds would still have to check the details and correct them if necessary.The watchdog added that it would also allow pension funds to use its online portals to announce collective value transfers and to update details about their organisation.The working group had also called for DNB to review the appropriateness of its surveys, related communications, and the division of roles between DNB and other supervisors.In a response, the regulator said it would improve its communication about the purpose, approach and goals of surveys and information requests.The Pensions Federation said it was positive about the supervisor’s plans.However, it said that it wasn’t yet able to judge whether they would have an impact on pension funds’ annual costs of indirect supervision, which are estimated to be in the millions of euros. Dutch pensions regulator De Nederlandsche Bank (DNB) has promised to reduce pension funds’ supervisory burden by using its existing data to complete digital information requests.It said it would also take into account holiday periods by relaxing reporting deadlines.DNB responded to suggestions from a working group of representatives of the financial sector, including pension fund trade body the Pensions Federation, which had asked for better planning, more automatisation and better proportionality.In a letter, the supervisor said that it expected to start filling in the basis data of schemes and their trustees later this year.
Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 “This 90ft cruiser is advertised for sale for $1.25 million but included in the sale of the property for $5.9 million,” Ms Mills said. “We wanted to sell the luxury lifestyle with the property.”The residence, at 68 The Promenade, is set on a 991sq m waterfront block with 27m of water frontage.“This home is suited for the buyer who loves to entertain and also enjoys their own space and privacy with multiple living zones,” Ms Mills said.“Choose between staying at home with the gorgeous open-plan design with soaring high voids, or escape for the weekend on the 90ft luxury yacht.“It’s not often you get the opportunity to buy this grand home with the luxurious lifestyle to match.” It has a seemingly endless list of luxury features including a theatre, rumpus room, jacuzzi, resort-style pool, boat ramp, pontoon and jet ski dock.More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoMs Mills said selling property during the COVID-19 pandemic meant her agency had to think outside the box when it came to marketing. “We’ve had to adapt and come up with different angles to get properties sold,” Ms Mills said.“It’s the new way of selling.”The first inspection for the property is on Sunday and Ms Mills said she was expecting strong interest.“The owners have purchased elsewhere and are extremely motivated to sell and ready to move on,” she said.“This property looks to be great value for a potential buyer.” Home built by pokies heir has jaw dropping twin pools 68 The Promenade, Isle of Capri, is on the market for $5.9m including the million-dollar cruiser.A GOLD Coast vendor is throwing in a yacht with the sale of his mega mansion in the hope it will seal the deal.Carlie Mills of Amir Prestige is marketing the six-bedroom mansion on the Isle of Capri at $4.9 million. For an extra $1 million, the buyer can also secure the 1995 Azimut 78 Flybridge. MORE: Massive mega mansion record price revealed
Turkey’s defense ministry said 228militants were killed so far in the attacks. ISTANBUL – Turkey pounded Kurdishmilitia in northeast Syria for a second day on Thursday, forcing tens ofthousands of people to flee and killing at least dozens of people in across-border assault on United States (US) allies. Fire burns and smoke billows out in border town Tel Abyad, Syria on Oct. 10. REUTERS/REUTERSTV The Syrian Observatory for HumanRights, meanwhile, said at least 23 fighters with the SDF and six fighters witha Turkish-backed Syrian rebel group were killed.(Reuters) The SDF have been the main allies ofUS forces in the battle against Islamic State (IS) since 2014. They have beenholding thousands of captured IS fighters in prisons and tens of thousands oftheir relatives in detention. The offensive against the SyrianDemocratic Forces (SDF) led by Kurdish YPG militia, which began days afterTrump pulled US troops out of the way, opened one of the biggest new fronts inyears in an eight-year-old civil war that drew global powers.
Adelaide: Aiming to win their maiden Test series in Australia, India want to start the campaign on a positive note, when they face the hosts in the opening match of the four match series here on Thursday.World No. 1 India are coming on the back of some good performances at home, thrashing West Indies but were shocked by hosts Australia in the recently concluded Twenty20 International series while fifth ranked Australia had a torrid year due to controversies and poor outings. Also Read – Meghalayan mid-fielder Phrangki Buam joins ISL side FC Goa India’s overseas record is not that impressive as they lost a Test series in South Africa at the back end of last year and fell to England in a five-Test series away from home in the middle of 2018.Skipper Virat Kohli said that this time around the team is more experienced and players are fit as compared to the previous tours.The batting department is comprised of some quality batsmen like Virat Kohli, Murali Vijay, Cheteshar Pujara and Ajinkya Rahane who on their day can turn the game in their favour. Also Read – COVID-19: Football team observes ‘social distancing’ during match, loses 37-0In the warm-up game against Cricket Australia XI, Indian batsmen were on the mark as all have scored runs.India have also changed the five bowler strategy as Virat Kohli named only four bowlers for the upcoming match. The pace trio of Mohammed Shami, Ishant Sharma and Jasprit Bumrah will be complemented by off-spinner Ravichandran Ashwin.Australia, on the other hand, dropped Mitchell Marsh and handed Marcus Harris his debut in the upcoming match. Also Read – Big push to sports infra in Mizoram, gets Khelo India State CentreThe conditions here are best suited for fast bowlers and the hosts are well prepared for it with the likes of Nathon Lyon, Pat Cummins, Josh Hazlewood and Mitchell Starc.The batting department also seemed settled with Aaron Finch, Marcus Harris, Usman Khawaja, Shaun Marsh and Peter Handscomb. But the hosts will definitely miss the experienced players — Steve Smith, David Warner — who are serving bans for ball-tampering. Also Read – Manipur’s Thounaojam Kritina Devi all set to be part of the FIFA U-17 World CupWith India having struggled — specially in batting — during their previous tours to England and South Africa, skipper Kohli wants his boys to adapt quickly to the conditions.“We don’t want to wait to figure out what is happening with the conditions or the pitch. We need to read it really early and alter our game, which we couldn’t do in the last two tours,” Kohli was quoted as saying by the official website of the International Cricket Council (ICC) on Wednesday.The Indian captain also dismissed the idea that Australia will be easier opponents due to lack of experience in their current squad. (IANS) Also Read: Sports News
(REUTERS) – England captain Joe Root will miss the first Test of their three-match series against West Indies to attend the birth of his child, with Ben Stokes set to take the reins in his absence, the England and Wales Cricket Board (ECB) said yesterday.The first Test is scheduled to begin on July 8 at the Ageas Bowl and Root will leave England’s training camp today to be with his wife, Carrie, who is expecting their second child later this week.Root will also miss England’s three-day warm-up match that begins today. With the series being held in a bio-secure environment due to the COVID-19 pandemic, the 29-year-old will have to undergo a seven-day self-isolation period at home before joining the England squad ahead of the second Test at Old Trafford on July 13.Stokes, who has served as England’s Test vice-captain since his appointment in July last year, will become England’s 81st Test captain, while Jos Buttler will assume vice-captaincy duties.Durham all-rounder Stokes has matured since his well-chronicled disciplinary problems early in his career and was inspirational as England won the World Cup last year.Root previously backed the all-rounder to do a “fantastic” job in his absence, while fast bowler Stuart Broad said Stokes would have no problems stepping into the role of England skipper. Before the announcement, Stokes said he had never set a goal to become England captain but he was nevertheless looking forward to the opportunity.“If you look at Alastair Cook he was destined to be captain after Andrew Strauss and Root was destined to be captain after Cook, you know who the next one will be when one is coming towards the end of his career,” he said on Monday.“If I’m being honest, I’m not one of those who people would necessarily associate with being next England captain. But I am looking forward to the opportunity of doing it.”
Singer collected payments from 33 wealthy parents through his Key Worldwide Foundation, a nonprofit that allegedly worked to conceal bribes made to college coaches and an athletic official as donations. The bribery scam helped the children of celebrities, executives and professors gain admission to universities like USC, UCLA, Yale University and Stanford University. Two USC parents are among the 13 who agreed to plead guilty for their involvement in the college admissions bribery scheme, an attorney for one of the parents said in a statement Monday. Bay Area real estate developer Bruce Isackson and Davina Isackson are accused of paying over $600,000 to help their two older daughters gain admission to UCLA and USC, according to FBI documents. According to the FBI documents, the Isacksons paid over $15,000 to Singer to have a proctor change their younger daughter’s ACT scores in 2017. Singer also contacted former USC senior associate athletic director Donna Heinel for help admitting the Isackson’s younger daughter as a fake crew recruit. “Our duty as parents was to set a good example for our children and instead we have harmed and embarrassed them by our misguided decisions,” the statement read. “We have also let down our family, friends, colleagues and our entire community. We have worked cooperatively with the prosecutors and will continue to do so as we take full responsibility for our bad judgment.” The parents will plead guilty to one count of conspiracy to commit mail fraud and honest services mail fraud, and Bruce Isackson will additionally plead guilty to one count of money laundering conspiracy and a count of conspiracy to defraud the Internal Revenue Service. “Among many factors investigators could consider in reviewing each case are any developments in the criminal cases, including plea deals by parents,” USC wrote in an updated statement Monday. Other parents indicted in the FBI investigation who will plead guilty include actress Felicity Huffman and marketing guru Jane Buckingham. Buckingham allegedly paid mastermind William “Rick” Singer to have a proctor take her son’s ACT with the hopes of getting her son admitted to USC. Former assistant soccer coach Laura Janke created a profile claiming the Isackson’s daughter had previous competitive crew experience, and Heinel informed the family in December 2017 that their daughter would be admitted as a student-athlete, according to FBI documents. After their daughter was officially admitted to USC in Spring 2018, the Isacksons paid $250,000 to the Key Worldwide Foundation, part of which was also paid to Heinel, according to the documents. USC previously announced in a statement that it is conducting a case-by-case review of any students who could be associated with the admissions scandal. The accounts of the students connected to the bribery scheme have been placed on hold, preventing them from withdrawing from the University or requesting transcripts. They cannot register for classes until they agree to participate in their case review. Heinel and water polo coach Jovan Vavic were terminated from their positions in March when the investigation revealed their alleged involvement in the scheme. Janke left USC in 2014. In a joint statement released by attorney David Willingham, who represents Davina Isackson, the couple apologized for their involvement in the scandal and said they will cooperate with law enforcement. USC parents Bruce and Davina Isackson are among 13 parents who have agreed to plea guilty in the college admission bribery case. (Sasha Urban/Daily Trojan)
Manchester United is the most valuable football club in Europe, being worth about 3bn euros (Â£2.6bn), according to business services group KPMG.The Europa League winners top KPMG’s analysis of top sides’ “enterprise value”, putting it ahead of Spanish giants Real Madrid and Barcelona.The study analysed broadcasting rights, profitability, popularity, sporting potential and stadium ownership.In the study of 32 teams, English clubs dominate, filling six top 10 places.KPMG’s Global Head of Sports and the report’s author, Andrea Sartori, said the overall value of the football industry had grown over the past year. “While this is partially explained by football’s broadcasting boom, the internationalisation of the clubs’ commercial operations, their investment into privately-owned and modern facilities, and overall more sustainable management practices, are also key reasons for this growth,” he said.“In terms of media rights value, the English Premier League sits comfortably at the top of European leagues, although other major leagues have outlined well-defined strategies to compete for the attention of global fans.”But Mr Sartori said clubs were unable to influence their broadcasting income individually, given the collective nature of most deals.This year, 10 clubs were valued in excess of 1bn euros (Â£867m), two more than in 2016.Tottenham Hotspur and Italy’s Juventus were the new entrants to this elite group, with Tottenham ousting French club Paris Saint-Germain from 10th position.Despite Premier League dominance, Spain was the only country with two clubs reporting an “enterprise value” above 2bn euros, namely Real Madrid and Barcelona.The report is based on financial and non-financial information from the 2014-15 and 2015-16 football seasons.TOP 10 EUROPEAN CLUBS(By ‘enterprise value’)Â§ Manchester United -3.09bn eurosÂ§ Real Madrid – 2.97bn eurosÂ§ Barcelona – 2.76bn eurosÂ§ Bayern Munich – 2.44bn eurosÂ§ Manchester City – 1.97bn eurosÂ§ Arsenal – 1.95bn eurosÂ§ Chelsea – 1.59bn eurosÂ§ Liverpool – 1.33bn eurosÂ§ Juventus – 1.21bn eurosÂ§ Tottenham – 1.01bn eurosSource: KPMGShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram
AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersThe league offered a window into what this should look like this week. A report from ESPN cited a list of phrases the NBA and NBPA agreed can be used on the back of jerseys once competition resumes for the first four nights of games. They range from general (“Justice” and “Equality”) to pointed (“I Can’t Breathe”). ESPN also reported the players were dissuaded from wearing the names of prominent victims of police violence, such as George Floyd and Breonna Taylor, over concern that families could be offended.Sign up for Home Turf and get exclusive stories every SoCal sports fan must read, sent daily. Subscribe here.Jersey messages could be simply a first step to swaying the NBA’s audience into taking a more active interest in the causes their favorite players care about. Other leagues have sometimes grappled with how players speak out on social issues — the NFL’s dealings with Colin Kaepernick are just starting to thaw — but NBA players largely seem to believe the league has their interests at heart and will lend its platform for these causes.“I just think the NBA, we lead,” Jared Dudley said. “I think Adam Silver to me is the best. He’s trying to make it right, trying to bring awareness front and center.”The agreement between the NBA and NBPA notably contained language reinforcing the league’s commitment to helping Black Americans. While much of the structure has yet to be hammered out, the NBA has said it intends to increase hiring and representation in off-court facets of business, include more Black-owned businesses in commercial dealings, and create a foundation to pour resources in Black communities, from where the majority of its players come.Related Articles Activism in the NBA is not new. One of the most high-profile vocal athletes ever recently met virtually with the Lakers to remind them.In an online town hall meeting with players, Kareem Abdul-Jabbar talked to the team about his background, which included boycotting the 1968 Olympics over unequal treatment of Black people in the United States, and continues to this day with public cries for reform of college athletics. While the move for social reform is experiencing a crescendo in many realms of the United States, including the NBA, the words of the former Laker to the current generation reminded them social change is not like a championship — it’s not achieved in a single season.“This isn’t going to change in a month, probably won’t get changed in a year,” Alex Caruso said of his takeaways from the town hall. “It’s going to be time and time again where you’re going to have to step up, be courageous, use your voice and try to make an impact and change lives for the better.”The NBA’s renewed push for political and social causes is a reflection of its players, a majority of whom are black and several of whom have described intensely personal experiences with race and racism in America. As the NBA continues along its path to a July 30 restart, the causes players care about will be interwoven throughout: police brutality, prison reform, voting rights and more. Trail Blazers beat Grizzlies in play-in, earn first-round series with the Lakers “(It’s about) what can we do individually and what can we do as a unit to make change,” he said. “I think the more people we have, the more minds we have, the more ideas and thoughts we can come up with to kind of change the world and change what’s going on.”It’s likely that players aren’t the only ones representing the issues they care about. Frank Vogel said NBA coaches had discussed an equivalent to jersey messages, but details had not been finalized.Like many details about the restart, much is still in the works. But the conversations happening and the possibilities have excited many of the players who will be attending, NBPA president Chris Paul said recently.“I think that’s what makes me so excited about our league,” he said. “I’ve now been on the Executive Committee I think since my third year in the league, and to see the type of input and the ideas that guys have so that we can build awareness, we can spotlight on some of these Black-owned businesses. I’m excited for what we can do that’s a lot bigger than the game.” Trail Blazers, Grizzlies advance to NBA play-in game; Suns, Spurs see playoff dreams dashed Newsroom GuidelinesNews TipsContact UsReport an Error While factions of players publicly questioned last month if the NBA was committed enough, and if a return to basketball could help distract from the momentum of social justice causes, most of those concerns seem to be largely assuaged. Anthony Davis said he believed that players would be able to bounce ideas off of one another in Orlando as well. Lakers, Clippers schedules set for first round of NBA playoffs How athletes protesting the national anthem has evolved over 17 years Lakers practice early hoping to answer all questions