Austrian pension fund VBV laments regulatory bias against derivatives

first_img“Pensionskassen are not hedge funds or high-frequency derivative traders,” he said. “They use options and futures to optimise their portfolios.”The VBV board member said limiting the use of derivatives by institutional investors risked drying up liquidity in European derivative markets.He also claimed that “politics and regulation currently do not add up in Europe”, citing long-term infrastructure investment as an example.He said budget-constrained politicians had welcomed these investments while at the same time regulators were making them “unattractive” for investors, citing risk, valuation challenges and illiquidity.He argued that, “as with any niche investment”, the question remains whether it yields enough to compensate for the “administrative effort”.“Niche investments that are not returning at least 5-6% are not attractive – even now that the interest has gone down further – because the administrative and regulatory burden remains the same,” Schiendl said. The European Central Bank’s (ECB) decision earlier this month to lower the benchmark interest rate from 0.25% to 0.15% has merely served to increase duration risk and the relative importance of interest-rate derivatives, according to Günther Schiendl.The head of asset management at Austria’s largest Pensionskasse VBV lamented what he saw as misguided and indiscriminate “regulatory bias” against all forms of derivatives, as part of supervisors’ ongoing efforts to prevent speculation.“Regulators currently are eyeing derivatives very sceptically, which is regrettable because, at the same time, everyone is talking about risk management, and for this derivatives are the best alternative,” he said.Schiendl stressed that he, too, was in favour of regulating systemic risks in OTC derivatives and agreed that many credit default swaps had “caused a lot of damage”, but he argued that options and futures traded on a stock exchange were “something different”.last_img read more

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Mauritius designates first woman president

first_imgAmeenah Gurib-Fakim is a renowned scientist and biologistThe government of Mauritius on Monday designated Ameenah Gurib-Fakim as the Indian Ocean island nation’s new president, making her the first woman to hold the ceremonial position.The appointment of Gurib-Fakim, an internationally-renowned scientist and biologist, is subject to parliament approval, due to take place on Thursday.The opposition has said it will support her appointment, making the vote a mere formality.Her inauguration is expected to take place on Friday, officials said. Gurib-Fakim, 56, will be the first female president of the island, which gained independence from Britain in 1968 and which replaced Britain’s Queen Elizabeth II as its head of state in 1992.Former president Kailash Purryag, who had been put in place by the previous government, stepped down as the island’s figurehead on Friday.Britam drops 2 directors linked to scam He had served as president since July 2012, when he was appointed by the island’s previous Labour party government of former premier Navin Ramgoolam.The previous government had fought the elections on a platform of delivering constitutional reform — notably with a divisive proposal to strengthen presidential powers.Ramgoolam himself had hoped to eventually run for the new, strengthened position. Since his election defeat Purryag has been seen as an unwanted figurehead, while Ramgoolam has been embroiled in corruption allegations that have shocked the country.Mauritius is one of the richest — and least corrupt — countries in Africa, a middle-income country of some 1.3 million people with a per capita GDP of just over $9,000 (7,200 euros).Once dependent on sugar exports, the island has built up a strong outsourcing and financial services sector, and an important tourism industrylast_img read more

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Dearborn foundation awarded $2.2 million in 2014

first_imgLAWRENCEBURG, Ind. – The Dearborn Community Foundation (DCF) awarded $2.2 million grants and scholarships in 2014.“We consider our grants and scholarships to be investments in our community,” said Fred McCarter, DCF Executive Director. “Many generous donors make all of this possible! The Foundation is here to help donors make their charitable wishes come true. We are proud to help them make a difference in Dearborn County!”One million dollars were awarded to support needs of the community in various fields of: Art, Culture and Humanities; Community and Public Benefit; Education; Environment and Animal Protection; Human Services; Public Safety; and Youth Programs. MoreThere were 200 scholarships totaling $433,675 were awarded to help recent high school graduates with their post-secondary endeavors and also to support students who are already attending college.DCF awards grants to non-profit charitable organizations that serve the residents of Dearborn County.last_img read more

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‘Bulldog Spirit’ enlisted to lift fire victims

Batesville, In. — The Batesville High School students, staff and Football Alumni will hold a benefit for the family of John and Julie Wilson Friday, September 8. The family lost their home and belongings in a recent fire.During lunch, from 11:05 a.m. to 1:15 p.m. and at the football game that evening versus Rushville monetary donations and gift cards can be dropped off. Household items and clothing can be dropped off at the BHS Guidance Office from 8:30 a.m. to 2:30 p.m. On Thursday, September 14 the Batesville middle School will hold a bake sale to benefit the family.The Wilsons have five children: Ben and Jacob, both BHS alumni; Sarah, a senior at BHS; Maggie and Luke, both Batesville Middle School students.

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Real Madrid, Arsenal deadlocked in Ceballos talks

first_imgReal Madrid midfielder Dani Ceballos is no closer to confirming where he will be playing next season, with his future in the Spanish capital uncertain. Ceballos spent the 2019-20 season on loan at Premier League side Arsenal, and despite the Gunners willingness to keep him at the club, no deal has been reached.Advertisement The Spanish international has remained open to the potential of either returning to Madrid, or remaining in London, with his first team opportunities set to be limited at the Santiago Bernabeu. Read Also: Dutch FA demands €5m from Barcelona to appoint KoemanAccording to reports from Mundo Deportivo, Los Blancos are frustrated at Arsenal’s unwillingness to meet their €45m asking price, with Arteta rumoured to be angling for another loan deal, with an option to buy in 2021.Former club Real Betis have also been linked with a move for the 24-year old, however, they are also likely to prefer an initial loan move instead of a full transfer in the coming weeks.FacebookTwitterWhatsAppEmail分享 Loading… Promoted Content7 Black Hole Facts That Will Change Your View Of The Universe10 Irresistibly Gorgeous Asian ActressesCan Playing Too Many Video Games Hurt Your Body?Birds Enjoy Living In A Gallery Space Created For ThemYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeCouples Who Celebrated Their Union In A Unique, Unforgettable Way6 Interesting Ways To Make Money With A DroneThe 10 Best Secondary Education Systems In The World7 Reasons Why You Might Want To Become A Vegetarian7 Mind-Boggling Facts About Black Holes10 Risky Jobs Some Women Do9 Facts You Should Know Before Getting A Tattoolast_img read more

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Kaleb G. Norton

first_imgKaleb G. Norton passed away suddenly on Saturday, September 28, 2019.  He was 17 years old.  The son of Laura M. Kennelly was born on August 29, 2002 in Indianapolis.Like most boys his age, Kaleb was a typical teenager who loved to laugh, have fun and spend time with his friends. Growing up in the small town of Batesville, Kaleb was involved in youth sports like football and basketball.  He was a confirmed member of Holy Family Church in Oldenburg. Kaleb used to spend time on the farm riding his 4-wheeler and of course, playing video games on his x-box with his buddies.  In the last year he had taken a real interest in music.  He had started writing songs and making music developing his own ‘studio’ in the basement where he could work on his tracks.  His infectious laughter and bright smile will be truly missed by his loving family and friends.Kaleb is survived by his dear mother, Laura Kennelly; devoted grandmother, Judy Leising; grandfather, Kevin Kennelly; sister, Makayla Kennelly; uncle Ryan (Rebecca) Kennelly and aunt Tonya (Luke) Lindsell; his cousins, Caroline, Aubry, Eliza, Conner, Cooper and Carly; in addition to other great-aunts, great-uncles, cousins and numerous friends.Visitation will be Wednesday, October 2, 2019 from 3:30-7:30pm at Meyers Funeral Home.  Mass of Christian Burial at 10:00am on Thursday, October 3rd at Holy Family Church in Oldenburg.  Online condolences www.meyersfuneralhomes.com.last_img read more

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Three debutants in Golden Jaguars 23-man squad to face Belize

first_imgHEAD COACH of the Golden Jaguars, Michael Johnson, has named three debutants – Jordan Greenidge, Anthony Jeffrey and forward, Keanu Marsh-Brown, in his 23-man squad to face Belize on Saturday, March 23, in country’s final, and what is considered as a most important qualifier for Guyana in the Concacaf Nations League, at the National Track and Field Centre, Leonora.Greenidge, 22, is a 6 feet, 6 inches tall left-footed Defender who can operate both as a Centre or Left Back. His technical development has been based at the English Premier League (EPL) team Arsenal’s famous youth Academy and has been playing professional football in Norway since 2017.Jeffrey is a 24-year-old rapid attacking player who can play as a Winger or as a main forward. A talent, also produced by EPL’s Arsenal’s Academy, Anthony has played in the English Football League for Stevenage Borough FC and Wycombe Wanderers FC.Currently a regular goal scorer in the Conference National for Dover Athletic, Anthony will add a new dimension to Guyana’s Forward line.Keanu Marsh-Brown, brother of Ronayne Marsh-Brown, is a 26-year-old seasoned forward in the English Football League, playing at Newport County.A product of Fulham’s Academy, Keanu has played for MK Dons, Oldham Athletic, Yeovil Town in England and Dundee in Scotland.Among the seasoned members of the squad re-joining the team are Warren Creavalle, Emery Welshman, Samuel Cox, Walter Moore and Gregory ‘Jackie Chan’ Richardson.This selection follows the Guyana-based team’s preparation, which has been in training for approximately eight weeks and which has had five training matches during this time, the last of which was held on Saturday at the Pierkhan Stadium, Nickerie, Suriname, where the ‘Jags’ went down 3 – 1.Tickets for the match are being sold at $1500 at the following locations: Andrews Supermarket – Aubrey Barker Road, South Ruimveldt; The Guinness Bar – Durban Street, GT; West Indian Sports Complex, Robb Street; Nice Restaurante; below Space Gym, Croal Street, GT; Pegasus Hotel Guyana; KFC Outlets – Regent Street & Mandela Avenue; Dad’s Fish Shop, Den Amstel; Patsy Food Court and Bar, Linden-Soesdyke Junction; The Fashion Box– Vendors Arcade, Bartica and at Giftland Mall.Fan jerseys are also available at the GFF Secretariat, the Guyana Pegasus and Giftland Mall at a cost of GY$5,000.Match time is set for 18:30hrs.GOLDEN JAGUARS SQUAD: Goalkeepers – Alex Murray, Sese Norville and Akel Clarke. Defenders – Sam Cox, Elliot Bonds, Terence Vancooten, Reiss Greenidge, Ronayne Marsh-Brown, Walter Moore and Kevin Layne. Midfield – Neil Danns, Clive Nobrega, Stephen Duke-McKenna, Anthony Jeffrey, Kadell Daniel, Warren Creavalle and Trayon Bobb. Forwards – Sheldon Holder, Gregory Richardson, Pernel Schultz, Marcel Barrington, Emery Welshman and Keanu Marsh-Brown.last_img read more

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Family of slain student holds peace stand-in

first_imgCommunity members lit prayer candles and laid down roses to commemorate of USC student Victor McElhaney. (Natalie Oganesyan/Daily Trojan) During the stand-in, attendees passed out flyers with information on the suspects and how to send in anonymous tips. Attendees also lit prayer candles and laid down roses in commemoration of McElhaney’s life. “I don’t know how to think of justice for Vic,” Lynette said. “We’ve got some men out there who … [have] taken guns, and they’ve taken my baby’s life. They need to be brought in to account for that action so that they can be restored. They don’t need to be at large where they can do harm to another mother’s child.” McElhaney’s parents Oakland Councilmember Lynette Gibson McElhaney and her husband Clarence McElhaney joined Price, Los Angeles County Supervisor Mark Ridley-Thomas, community activists and local nonprofit organizations in raising awareness for street gun violence. Members of Brothers Breaking B.R.E.A.D., an organization dedicated to uplifting black men at USC, and Black Student Assembly were also in attendance. On Saturday, over 50 community members gathered on the corner of Maple Avenue and Adams Boulevard, where USC student Victor McElhaney was shot and killed in early March, to call for the identification of the 21-year-old’s killers and justice for his family. “[People] spend their lives telling a story, and when they pass, they no longer get to tell that story,” Warren said. “It’s up to the people around them to tell that story for them. Although we can tell that story in our own unique ways and how Vic has affected all of us, nobody can tell it as beautifully as him. I’m asking for justice for my friend. I’m asking for some sort of peace for his family.” The day before, McElhaney was honored with a posthumous degree in music studies with an emphasis in jazz during the Thornton School of Music’s satellite ceremony. “We will not rest until this matter is appropriately resolved and these perpetrators are brought to justice,” Ridley-Thomas said. “Stop the silence to stop the violence. We’re going to say something. Do something.” Soldiers Against Violence Everywhere Center Oakland (S.A.V.E.), a nonprofit founded by Theresa Butler and Lynette that aims to end street gun violence, co-sponsored the event. The organization was started nine years ago and holds monthly stand-ins for gun violence victims in Oakland. “We’re mothers who were affected by violence, [and] yet our main message is a message of love,” Smith said.center_img Angelique Smith, mother of the late rapper Nipsey Hussle, said she wanted to spread light even in the face of immense darkness. “We are asking for your help, the community’s help to partner with us, to partner with the family in identifying the suspects,” said lieutenant Dan Thompson. “We need the public’s help,” said Los Angeles City Councilmember Curren Price. “I hope that today’s gathering sends a clear, clear message. We are committed to finding these killers and bringing them to justice. We will not tolerate fear and we are not going to tolerate folks terrorizing our neighborhoods.” “We started [S.A.V.E.] out of the church [the McElhaneys and I go to] and they have been part of it since the beginning,” Butler said. Former BSA co-director Nia Warren said Victor McElhaney, whom she had known since childhood, taught her a lot about history, social justice and love. “I see being a good person to an entirely new standard,” Warren said. “The bar is raised because [of Victor].” Warren added that she was saddened by the fact that Victor McElhaney could no longer tell his own story. In the ongoing police investigation, the Los Angeles Police Department, who was also in attendance in solidarity, said they believe the suspects are three young Latino men, who fled the scene in a four-door dark-colored sedan. To provide information about the suspects, contact authorities at the Homicide Special Section at 213-486-6890. To leave anonymous tips, call 213-486-6890 or go to www.lacrimestoppers.org.last_img read more

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Liverpool Unveil Anfield Redevelopment Plan

first_imgLiverpool Football Club has unveiled its stadium expansion plans with detailed proposals for the expansion of its Main Stand and outline proposals for expansion of its Anfield Road Stand. Public consultation and exhibitions on the proposals are scheduled for this week and Liverpool are asking for residents, fans and local businesses to give their views as part of its planning application, which they expect to submit in the summer.The exhibition shows the detailed design proposals for the redevelopment of the Main Stand which could add an additional 8,500 seats taking the Main Stand capacity to nearly 21,000 and overall Anfield capacity to around 54,000.The scheme will include a two-storey podium and a carefully designed cloister which will become the new home for the Hillsborough Memorial.The outline proposals for the Anfield Road Stand provide for an increase in its capacity of around 4,800 seats.Ian Ayre, Liverpool FC managing director, said, “As part of our proposed stadium redevelopment project, we have unveiled the detail of our ambitious plans for an expanded Main Stand and Anfield Road stand and are embarking on a consultation process which will shape and inform our planning application. “In order to move forward with our expansion plans we need to have certainty that we can navigate the complex planning process and secure the support of the community, local home owners, businesses and other key stakeholders. This consultation exercise is an important part of this process.”We started this journey just over 18 months ago and a lot of work has already been done, there is still an incredible amount to do, but good progress has been made so far and we are proud to be able to unveil our plans.”Liverpool, under the ill-fated stewardship of former owners Hicks and Gillett, had planned to build a new stadium at Stanley Park. Those plans were scrapped in favour of redeveloping their current home, Anfield and a wider regeneration of the Anfield area in conjunction with the local council and Your Housing Group.Following this consultation process, Liverpool FC expects to refine its plans and submit a planning application to the City Council during the summer.If consent is granted, construction work on the proposed Main Stand could begin early next year and it could be complete in time for the 2016-17 season. Mayor of Liverpool, Joe Anderson, said: “This is another important step in our ambitions to transform the Anfield area, bringing new jobs, investment and housing. “The overall regeneration of Anfield will see £260m invested in the local community and will deliver hundreds of jobs – Liverpool Football Club’s proposals for the stadium are a key part of this.”We are all committed to delivering a brighter future for Anfield and the club’s exhibition is a clear signal that real progress is being made with all our plans.last_img read more

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Nhyira Fm Community Gala: Ahinsan crowned champions

first_imgThe  maiden edition of  Nhyira Fm’s Community Gala saw  team Ahinsan crowned as champions on Saturday in Kumasi.The three-day football competition attracted 16 communities in the Kumasi Metropolis who competed for supremacy at the Asem School Park.The grand finale witnessed Ahinsan Community defeating the Suame Community by 2-1, to run home with a giant trophy and a cash prize of GHC2, 000 whiles Suame settled for GHC1, 000 for placing second. But the most cheered team,the Tech community, had to settle for the third slot after they beat Adum on penalties. Tech took home GHC500 for placing third.Prince Anaman of Ahinsan was adjudged the Best Player of the entire competition.   Community members who trooped to the park were excited to be part of a live broadcast of the station’s Power Sports programme at the competition grounds.Business Development Manager for Multimedia Kumasi, Jim Aglah, said the gala was part of Nhyira Fm’s commitment to add value to community life and excite listeners through the game of soccer and promised that the event will be organized regularly following the successes  attained in the  maiden edition  in terms of  patronage by the various communities.last_img read more

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