Category: znpstbxhsdso

  • Inverness

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  • KPU chairman Arief Budiman tests positive for COVID-19

    first_imgHe added that he had remained at home in self-isolation since receiving the test result and that he was not experiencing any symptoms.Read also: Health Ministry COVID-19 cluster largest in JakartaArief’s family underwent swab tests on Friday morning, and Arief underwent a second test at the same time. The results are not known at the time of writing.The KPU has instructed its employees to work from home from Friday to Tuesday.“I will also perform my tasks from home using online platforms,” said Arif. He asked everyone to pray for his recovery.Arief is the latest high-ranking official to test positive for COVID-19. Maritime Affairs and Fisheries Minister Edhy Prabowo reportedly has the illness. Former deputy minister Dino Patti Djalal has also tested positive for the disease and is undergoing intensive hospital treatment. (dpk)Topics : General Elections Commission (KPU) chairman Arief Budiman tested positive for COVID-19 after undergoing a swab test on Thursday evening.“I took a swab test on Thursday evening as a requirement to attend a meeting at Bogor Palace today. The result came out positive,” Arief said on Friday, as quoted by kompas.com.last_img read more

  • Fiona Reynolds: Looking at ESG is practical not political

    first_imgDespite this momentum, my post-holiday glow quickly disappeared after reading the IPE article ‘Keep politics out of pensions’ by Daniel Ben-Ami. It seems to suggest the state of retirement incomes in the UK, particularly low balances, is due to the fact pension funds and asset managers spend too much time on ESG issues. At a more fundamental level, Ben-Ami posits that consideration of ESG issues, climate change and other external factors are in some way a drag on economic growth and hence the returns generated for beneficiaries.First, to suggest the state of UK retirement savings has anything to do with ESG considerations is clearly wrong.  For that, you need to look at policy, design and regulation. Over the last decade, we have seen a slow move away from defined benefit to defined contribution (DC) funds, and a move to provide pensions for all employees, not just the luckiest by dint of employment. We need to remember that auto-enrolment for workplace pensions only commenced in the UK in 2012 at a rate of 2%, and the system is still in transition, with an increase to 8% only coming about in 2018. There are no mandated rules for matching additional contributions, and there are no mandated portability rules. Anyone who knows anything about retirement incomes knows the average worker in a DC fund needs to make contributions of 12-15% of salary on average across his working life to be able to retire with a comfortable pension.In addition, in the UK, we see the problems of investment management fees for retirement products being too high, excessive intermediation, too many funds and too much complexity. However, a national pension system has to start somewhere, and, no doubt, some of these issues will be addressed as it matures. The establishment of NEST was a good starting point.The wider question, however, needs to be addressed. To suggest a young 25 year old joining a pension fund today doesn’t need her fund to address the long-term material risks arising from issues like climate change, environmental sustainability, resource depletion or supply-change risks is a failure to understand what will drive value creation to 2050 or 2060 when our young worker may be retiring. A quick glance at the corporate philosophy of Unilever may provide a glimpse of how a UK-listed global corporation with a diverse footprint is balancing the risks and opportunities posed by these externalities to help ensure its licence to operate, and that shareholder value remains strong in the decades to come.There are many studies – most notably from Arabesque Asset Management/Oxford University, Mercer, Harvard University and others – which present hard data to show that consideration of ESG factors actually leads to investment outperformance, which is why investors are taking keen notice. At the end of the day, these are investment issues – they are not political issues except to the extent politicians often fail to address long-term risks in markets simply because they are often focussed on short-term issues that will help their re-election.Pension funds, however, are here for the long term, investing on behalf of a multi-generational group of stakeholders trying to match liabilities over a rolling lifetime of member horizons. Many pension funds in the UK are leading the way when it comes to responsible investment – to help, not hinder, their returns.Finally, anyone who doubts the benefits of looking at ESG considerations needs look no further than Volkswagen, a once-respected company that has lost market share, reputation and shareholder value, a stark example that all investors should heed.Fiona Reynolds is managing director at Principles for Responsible Investment Fiona Reynolds, managing director at Principles for Responsible Investment, responds to recent ‘Keep politics out of pensions’ article by Daniel Ben-AmiReturning to London from a few weeks’ holiday on the beach in Australia, I was reflecting on the state of responsible investment globally and feeling that, although there is work to do, there have been some changes in perception and a renewed recognition of the value of taking a long-term view on value creation, sustainability and risk management.In December, at COP21 in Paris, we witnessed the first concrete global agreement on climate change, with more than 180 country-based climate plans submitted to the UNFCCC. What set these climate talks apart was the significant role investors played throughout the summit and the importance of institutional capital as an integral component to countries implementing the investment inherent in their emissions plans. And it is not just in the climate sector where change has been occurring. In the US, where the acceptance and implementation of responsible investment has traditionally lagged behind Europe, the Department of Labour last October came out with some clarifying statements that ESG considerations in investment decision making is consistent with fiduciary duty. This decision dovetails with a growing body of research, which demonstrates that a sustainability-focused investment agenda can lead to market outperformance.last_img read more

  • US Business Roundtable: A victory for the good guys?

    first_imgCapitalism needs rejuvenating if we want to be able to tackle the problems of the world today. That means re-examining what may have been seen as fundamental beliefs.Yesterday’s statement of corporate purpose issued by the US Business Roundtable – a grouping of the CEOs of a large proportion of the leading companies in the US – may prove to be a key stepping-stone. The new Statement on the Purpose of a Corporation explicitly states: “While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders.”The CEOs recognise a duty to shareholders by committing to “generating long-term value for shareholders, who provide the capital that allows companies to invest, grow and innovate”. But they end the statement with the words: “Each of our stakeholders is essential. We commit to deliver value to all of them, for the future success of our companies, our communities and our country.”Stakeholders vs shareholders Source: The Aspen InstituteJP Morgan Chase CEO Jamie Dimon speaks at an Aspen Institute event in 2018The Business Roundtable is made up of 188 CEOs from some of the biggest companies in the US. Its board of directors includes JP Morgan Chase’s Jamie Dimon, General Motors’ Mary Barra, IBM’s Virginia Rometty, Walmart’s Doug McMillon and S&P Global’s Douglas Peterson.Founded in 1972, the organisation played a key role in the development of free trade agreements between the US, Canada and Mexico.In a press release announcing the new Statement on the Purpose of a Corporation, Dimon said: “The American dream is alive, but fraying. Major employers are investing in their workers and communities because they know it is the only way to be successful over the long term. These modernised principles reflect the business community’s unwavering commitment to continue to push for an economy that serves all Americans.”center_img Nobel prize-winning economist Milton FriedmanNobel Laureate Milton Friedman promoted the idea of the supremacy of shareholder value maximisation over all other objectives. In a 1970 article in the New York Times, he argued that “there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud”. Academics and business leaders have been promoting Friedman’s view as a cornerstone of capitalism for decades.The Business Roundtable went so far as to formally proclaim this philosophy this in a statement of corporate purpose in 1997, stating: “The paramount duty of management and of boards of directors is to the corporation’s stockholders. The interests of other stakeholders are relevant as a derivative of the duty to stockholders.” For proponents of ESG investing, this stance is an anathema. Friedman argued that companies should not “make expenditures on reducing pollution beyond the amount that is in the best interests of the corporation or that is required by law in order to contribute to the social objective of improving the environment”.The support of the Business Roundtable for Friedman’s philosophy has been a critical element of the argument that shareholder value maximisation should override obligations to other “stakeholders” – which, of course, means everyone else impacted directly or indirectly by a company’s activities. There are three strands to the debate around stakeholders’ and shareholders’ interests, and advocates of ESG need to follow all three.(1) Legal frameworksAs economists such as Friedman and Harry Markowitz would argue, the objective of maximising shareholder value is subject to the constraint that it has to be within the law. As companies have to act within the law, it is up to politicians to set the framework and rules by which companies can operate. As such, lobbying for policy changes that fall under ESG plays a key role.(2) SentimentThis is arguably the primary driver for incorporating ESG criteria: individuals – and, increasingly, the institutions they work for – believe it is the right thing to do. Or, more cynically, they believe that unless they join the bandwagon of “virtue signalling” their ESG credentials, they will lose out. While cynicism plays a part, the end results can still be positive.(3) Academic evidenceEconomics is not a science with immutable laws. It is the study of human behaviour, particularly the behaviour of crowds. Human behaviour is not governed by pure self-interest, but also includes ideas such as altruism, and posterity – concerns over timescales way beyond any individual lifetime.Friedman’s philosophy has led to a damaging road for economic theory. It needs to go back to basics. As Adam Smith argued: “Markets are sustained not merely by incentives of gain or loss, but by laws, institutions, norms and identities, and without those things they cannot be adequately understood.” If the new stance of the US Business Council – supporting the interests of all stakeholders – means anything at all, beyond representing a change of sentiment, it should be reflected eventually in the legal framework governing corporate activities and academic theory. Economists take note!The Business Roundtablelast_img read more

  • Bob McCoskrie: Gay community cannot redefine marriage

    first_imgDominion Post 26 October 2011Deborah Russell says the state has no business in the marriage game, but then argues that the state should redefine marriage to allow same-sex marriage.Marriages are a matter of significant public concern, as the record of almost every culture shows. If it weren’t for the fact that sexual intercourse between a man and a woman leads to children and brings with it a further obligation to care for those children, the notion of marriage would probably never have existed.Marriage encourages the raising of children by the mother and father who conceived them. On average, children raised by their biological parents who are married have the best outcomes in health, education and income, and by far the lowest involvement with the criminal justice system.Russell then argues that denying same-sex marriage is “discriminatory” and “reinforces the power of traditional churches by endorsing their morality”. READ MOREhttp://www.stuff.co.nz/dominion-post/comment/5849413/Gay-community-cannot-redefine-marriagelast_img read more

  • Lending collector robbed

    first_imgThe suspect – who was still unidentified– choked her and pointed a bladed weapon at her then grabbed her bag containingthe cash. Police said the victim, who was onboarda Honda motorcycle, was collecting money from their customer on Cameroli Streetwhen an unidentified assailant suddenly rode on her back. Police have yet to arrest to suspect,who fled after the incident./PN BACOLOD City – Cash amounting to P60,000was stolen from a lending collector in Barangay 35. Hazel Cabigonay complained of havingbeen robbed around 11:20 a.m. on Dec. 3. last_img read more

  • Twisters Get Victory Over Eagles

    first_imgOA at Jac-Cen-Del (4-12)OA          4 (10) 34 0           21   13   1JCD         3  0     313            10    6     1For OA: Adam Huber 1-4, 3 runs, rbi, 2 bb; Andrew Oesterling 3-3, 4 runs, 2 rbi, 3 bb, 2 doubles; Matt Sedler 2-4, 3 runs, 5 rbi, bb; Michael Hoff 1-2, run, rbi, 2 bb; Dalton Mooney 2-3, run, rbi, bb; Zach Wegman  1-4, 3 runs, 2 rbi, bb; Patrick Thompson 0-2, run; Jordan Stenger 0-0, run; Christopher Hautman 2-3, run, rbi; Riley Schebler 0-1, run; Zach West 1-1, 2 runs,  2bb, rbi.OA Pitching: Andrew Oesterling  2.1 IP, 6 runs, 5 earned, 2 hits, 2 k, 5 bb, hbp    Win; Zach Wegman 1.2 IP, 1 earned run, 1 hit, 1 k, hbp; Hunter Sullivan 0 IP, 3 earned runs, 2 hits, 1 bb; Riley Schebler  1 IP, 0 runs, 2 hits, 1 k.OA Varsity Record: 2-2     Next game: Saturday (4-14) vs. Indpls. Scencia   DH.Courtesy of Twisters Coach Doug Behlmer.JV-OA vs. Union County (4-11)UC          214 2 (10)            19   8OA          200 00                   2     3   3For OA: Pros Moorman 0-2, run, bb; Riley Schebler 1-2, run, rbi, bb; Abe Peetz 0-1, bb; Chris Hautman 1-2; Connor Bellamy 0-1, bb; Nick Hoff 0-1, bb, rbi; Dempsy Bohman 1-1.OA Pitching: Owen Hudepohl   2.3 IP, 6 runs, 5 earned, 2 hits, 6 bb,  1 k    Loss; Race Carle  .2 IP, 3 earned runs, 6 bb; Abe Peetz  1 IP, 6 earned runs, 5 hits, 3 bb; Chris Hautman   1 IP, 4 runs, 3 earned, 2 bb, 2 k.OA JV Record: 0-2Courtesy of Twisters Coach Doug Behlmer.last_img read more

  • Prabudial Ramdial Memorial Golf Open on this weekend

    first_imgPRABUDIAL Ramdial Memorial Golf Open, sponsored by Vish Trading Inc., is on this weekend at the Lusignan Golf Course.The tournament, according to a release from the Lusignan Golf Club (LGC), proves that everyone can make a difference in the lives of others.Since 2010, the family of Prabudial Ramdial, under the direction of Vish has been a generous sponsor of the Lusignan Golf Course.This tournament holds a special place in the Club’s history because of the strong bond and friendship that existed between recent LGC vice-president Brian Hackett of Scotiabank and Prabudial, according to Vish Ramdial who vowed to continue to support the club in the coming years.Vish, after visiting the course, said he sees the attraction his father had for golf and has elected to become a member himself after hitting a few shots. He now wishes to call the tournament the ‘Speedy Memorial Open’.Vish has generously agreed to donate four brand new electric golf carts after becoming enthused about the plans for expansion, which include a women’s social club, school and university programmes, fine dining and weddings etc.The 8th annual tournament will feature prizes for 1st to 3rd places, Best Gross and Nearest to The Pin.last_img read more

  • Opponent preview: What to know about Florida State

    first_imgIn the midst of its second two-game slide of the season, Syracuse (3-4, 0-3 Atlantic Coast) travels to Doak Campbell Stadium on Saturday to play Florida State (3-4, 2-3 ACC). The Orange are winless in five trips to Tallahassee, with their last contest there a 27-24 nail-biter in 2017. Both teams come into Saturday’s contest having lost two straight games, although the Seminoles’ losses came against two of the top teams in the ACC in Clemson and Wake Forest.Here’s a look at Florida State before it kicks off with Syracuse:All-time series: FSU leads, 10-2Gambling odds: As of Friday afternoon, Florida State is an 11-point favorite and the game total is 59.The last time they met: Last year SU took down the Seminoles for the first time since 1966. In that game, Floyd Little led the Orange to a win in Archbold Stadium. Last season, Syracuse led just 6-0 at halftime but then-redshirt freshman Tommy DeVito saw extended playing time for the first time in his career and led SU to three second-half touchdowns to ultimately defeat Florida State, 30-7. Aside from running for a three-yard touchdown in the third quarter, DeVito also threw a touchdown to Ravian Pierce from the same distance. After defeating Western Michigan and Wagner in the first two games of the 2018 season, Syracuse’s victory over the Seminoles served as its first statement victory of the 10-win campaign. AdvertisementThis is placeholder textThe Florida State report: The Seminoles have been largely mediocre this year, ranking near or below the middle of the pack in most team statistics. They rank ninth in the ACC with an average of 28.6 points per game but are even worse defensively, allowing 30.7 points per game — second-worst in the conference. The heartbeat of FSU’s offense is Cam Akers, its starting running back. The junior has rushed for over 100 yards on four separate occasions this season, including last week against Wake Forest when he combined for 199 yards and two touchdowns from scrimmage. Akers ranks 12th in the country in rushing yards (773) and leads the ACC in touchdowns. Quarterback James Blackman missed some time this season with a knee injury and was replaced by Wisconsin transfer Alex Hornibrook, but Blackman is back healthy and under center for the Seminoles.Defensive tackle Marvin Wilson leads the way defensively for FSU, ranking third on the team in tackles, second in tackles for loss and second in sacks this season. While he’s had a successful season individually, the Seminoles have struggled defensively as a unit. Aside from allowing the second-most points per game in the ACC, they’re also among the worst in sacks, penalties and yards allowed. How Syracuse beats Florida State: Do what it did last year and stop Akers. The back accumulated just 60 yards from scrimmage against the Orange last season, part of a dominant defensive effort by SU in which it held the Seminoles to 240 yards of offense and gave FSU quarterback Deondre Francois fits in the backfield all day. Containing Akers will certainly be the foremost priority for Syracuse.But perhaps more important for the Orange is the play of its offense. If Syracuse wants to beat Florida State, it’ll have to put points on the board and find some consistency offensively, something it’s struggled to do all season. Even against an underperforming Seminoles defense, that’ll be difficult for an SU squad whose quarterbacks are both banged up and offensive line has been amongst the worst in the country. But if the offense can get going and start producing with any semblance of consistency, it bodes well for not only Syracuse’s chances of taking down FSU but the remainder of the season.Stat to know: 17 — games since SU last held a power five team to single-digit scoringIt’s been 405 days since Syracuse defeated the Seminoles last season, the last time the Orange held a power-five opponent to fewer than 10 points. SU has also yet to defeat a power-five team since its Camping World Bowl victory over West Virginia 10 months ago. It’s certainly been one of the stronger parts of the team this year, but even the Orange defense has taken a number of steps back since its peak last season. Player to watch: Cam Akers, running back, No. 3Akers is one of the best running backs in the country and has added to his repertoire this season, having caught three touchdowns thus far. He’s already set career-highs in receiving touchdown and yards, and is on pace to nearly double his previous career-high in catches. Fresh off one of the best games of his career, Akers figures to give SU fits all day. Comments Published on October 25, 2019 at 10:19 pm Contact Eric: erblack@syr.edu | @esblack34 Facebook Twitter Google+last_img read more