PREMIUMGovt to spend $37b stimulus by year end through new programs, simpler bureaucracy

first_imgsocial-safety-program stimulus-package government-spending healthcare COVID-19 Linkedin Log in with your social account The government is looking to disburse Rp 534.98 trillion (US$37.04 billion) in COVID-19 stimulus funding in the remaining months of the year, through proposed new programs and streamlined bureaucracy in an attempt to rescue the pandemic-hit economy.The new stimulus programs range from a continuation of existing programs such as fund placement in banks, electricity discounts and the Family Hope program, as well as new programs intended to spur economic growth and boost people’s purchasing power, according to Finance Minister Sri Mulyani Indrawati on Monday.The new proposed stimulus programs, totaling Rp 126.2 trillion, will be financed from reserves and budget reallocations from the government’s COVID-19 stimulus package of Rp 695.2 trillion.“We will redesign the stimulus to maximize its impact and to allow the economy to recover faster, while also simplifyin… Facebook LOG INDon’t have an account? Register here Topics : Google Forgot Password ?last_img read more

Switzerland’s Profond creates CIO role for more in-house control

first_img“We are active in more areas and investing more ourselves,” he added.  “For all these reasons, we decided we need internal co-ordination, which we feel will give us more control.“We felt the progress and changes we want to make can be achieved more easily with our own CIO.”As of the end of December 2015, Profond had around CHF6bn (€5.4bn) in assets under management, compared with less than CHF1.5bn some 10 years ago. The scheme has around 1,800 companies as members.When asked what changes Profond had in mind, Meyer said “there is no master plan as such” but that part of the point of hiring a CIO was to have someone inside the foundation to develop the scheme’s thinking on investment strategy.“The CIO will be the main motor behind this,” he said, adding that a core responsibility would be to oversee the investment process and the related organisational structure.Whether there will be other personnel or organisational changes remains to be seen, Meyer said.“Our focus,” he added, “is to think about substance.” Swiss multi-employer pension scheme Profond has created the position of CIO, with Christina Böck of AXA Investment Managers appointed to the new role.Böck has been at AXA for more than 15 years, most recently as head of solution strategists for Central Europe, and CIO Switzerland at AXA in Zurich.She will join Profond in mid-August, reporting to the board of trustees.Olaf Meyer, head of the board of trustees at Profond, told IPE the decision to hire a CIO was a reflection of the scheme’s growth and its increasingly complex investments.last_img read more

Pensioenfonds VNU shakes up fixed income allocation

first_imgDutch scheme Pensioenfonds VNU halved its stake in government bonds to 12.5% last year in favour of a range of alternative fixed income assets.In its 2016 annual report the fund said it had moved into mortgages, asset-backed securities (ABS), government-backed bonds and private loans.VNU raised its strategic stake in residential mortgages to 7.5% and increased its ABS holdings to a similar percentage.It said it expected the adjustments would generate better returns against an almost unchanged risk profile. For the same reason, the pension fund took a 7.5% stake in the Aegon Government-Related Investment Fund (GRIF), which invests in government-backed or government-related bonds as well as private loans.The changes applied to the €174m of pension assets managed by Aegon Investment Management for the Pensioenfonds VNU. The assets cover €57m of liabilities, chiefly for indexation for pensioners and deferred members.VNU said it would bear the longevity risk for the €57m of assets “as a hedge through longevity swaps would be too expensive and complicated”.In addition, the scheme has insured €438m of liabilities through a guarantee contract with Aegon, based on assets with a market value of €277m.The board said it had persuaded Aegon to also invest 15% of the insured liabilities in the insurer’s Government Related Investment Fund, at the expense of investments in Aegon’s Core Government Bond Fund and European Credit Fund.The pension fund – which reported an overall annual return of 6.7% and had a funding of 123.8% at May-end – said it wanted to remain independent, rather than merge with another scheme.It argued that a feasibility check had shown that, with its current coverage and investment policy, it would be able to keep on granting inflation-linked increases for a long period.It also pointed out that, because its pensions were largely insured, supervisor DNB had agreed that it could grant full indexation based on a funding ratio of 113.4%, rather than the usual regulatory minimum of 125%.The scheme’s US sponsor, marketing research firm The Nielsen Company, showed a preference for defined contribution pension schemes, VNU said. This meant the Dutch defined benefit fund could ultimately face closure to new entrants.Pensioenfonds VNU has more than 3,000 pensioners and 2,150 deferred members but just 230 workers.Last year, its administration costs were €323 per participant. It spent 0.3% and 0.03% on asset management and transactions, respectively.last_img read more

There’s No Such Thing As A Perfect Man

first_imgLifestyleRelationships There’s No Such Thing As A Perfect Man by: – March 1, 2012 63 Views   no discussions Sharing is caring! Share Tweetcenter_img Share Share Photo credit: geniusbeauty.comGuys might think us ladies are always on the lookout for the perfect man. But, as it turns out, there is no ideal guy. In a study conducted by Remington, of 2,000 women, most ranked their partner as only 69 percent “perfect.” See? We got off that crazy train a long time ago. Now it’s your time. There’s no such thing as the perfect women, either.They say perfection is in the eye of the beholder, blah blah. But really, as cheesy as this sounds, the only thing you can be perfect at is being yourself. It’s really your only viable option, if you’re playing a numbers game, because every woman is looking for something different.We aren’t that fond of guys trying to be perfect, either. We don’t want to feel inferior. And we especially hate it when guys try to be someone they’re not. If you’re not that hilarious, laugh harder at our jokes instead. If you’re not that introspective, stop telling us about the boring book you just read. If you’re bad at sports, show us how great you are at trivial pursuit. You don’t have to be the perfect guy, you just have to be perfect for us.Even if you try to mimic all the big-ticket traits that females usually fall for, you could still easily end up with the dreaded “great on paper” label. It roughly translates into: A guy who is successful, driven, good-looking, funny, friendly, and single, but with something missing. That something is chemistry. And a relationship without a spark is eating turkey bacon for breakfast-it seems normal, but you’re still just faking it.by Naomi PierceyMen’s Healthlast_img read more

Drake, DeVolder score IMCA Modified feature wins at Santa Maria Nationals

first_imgIMCA Modified career win number one for Shane DeVolder came on night two of the Santa Maria Nationals. The May 27 victory paid $1,200 and put DeVolder on the Fast Shafts All-Star Invitational ballot. (Photo by Tom Macht, www.photofinishphotos.com)SANTA MARIA, Calif. (May 26-27) – Logan Drake raced back to victory lane on opening night while Shane DeVolder earned his career first IMCA Modified feature win on night two of Santa Maria Raceway’s Memorial Weekend Nationals.Drake, also a 2017 winner at Santa Maria, led the last 10 circuits in winning Saturday’s 25-lapper. DeVolder regained the lead with two turns around the track left in Sunday’s main, also 25 laps. Both events paid $1,200 and put the winners on the Fast Shafts All-Star Invitational ballot.Robby Sawyer started on the Saturday pole flanked by Austin Burke and the first seven laps ran in that order. The third-starting Drake took over second on lap eight and moved to the extreme high groove to take the top spot from Sawyer on lap 15.The only caution of the event came on lap 20. Drake led the final five laps for his first feature win of year and was followed across the stripe by Sawyer, Clay Daly, D.J. Shannon and Cody Laney.No stranger to victory lane at Santa Maria Raceway, Logan Drake topped the opening night Nationals feature for IMCA Modifieds. He earned a Fast Shafts All-Star Invitational ballot berth along with a check for $1,200. (Photo by Tom Macht, www.photofinishphotos.com)“Santa Maria is only about 20 minutes from home but this was only the fourth time we’ve been able to race there this year. We’ve just been so busy at work, Drake said. “If you’re going to win a big race, it’s nice that this is the one. Just about everybody in California was here.”After an early exit with a broken axle on Saturday, DeVolder grabbed the early lead on Sunday ahead of Alex Stanford. A series of yellows slowed action before settling down with DeVolder continuing to lead Stanford and Sawyer. Brad Pounds moved into third before the next caution.Stanford took the lead on lap 17 and pulled away from DeVolder and Pounds before running afoul of lapped cars with two laps remaining and was backwards on the backstretch and out of the race.  DeVolder led the final pair of laps to win his first-ever Modified feature.“It was awesome,” said DeVolder, 16 years old and a junior-to-be at Design Tech High School in Redwood City. “I had raced here before in a Karl Chevrolet Northern SportMod but just once in a Modified. Winning so soon in my rookie season is just unbelievable.”Sawyer was the runner-up and Pounds took third. Austin Burke and Drake completed the top five.Michael Johnson was the $1,000 winner of Sunday’s Northern SportMod feature.Kollin Hibdon started on the pole and led a pair of laps before a rash of cautions slowed action. Austin Frye moved into second around Parker Maccianti before Hibdon spun in front of the pack for another yellow.Frye led a pair of laps punctuated by more yellows with the eighth starting Johnson using the upper groove to take the lead at the halfway mark.  Fifth row starting Jason Nation zoomed into second with five laps remaining.Johnson ran to the win ahead of Nation, Frye, Gary Dutton and Kyle Wood as Bakersfield Speedway-based cars dominated the field.May 26 Feature ResultsModifieds – 1. Logan Drake; 2. Robby Sawyer; 3. Clay Daly; 4. D.J. Shannon; 5. Cody Laney; 6. Alex Stanford; 7. Brad Pounds; 8. Jerry Flippo; 9. Austin Burke; 10. Roger Holder; 11. Cody Burke; 12. Randy Brown; 13. Ryan Daves; 14. Clint Reichenbach; 15. Austin Rodarte; 16. Chett Reeves; 17. Dylan Thornton; 18. Trevor Fitz-Gibbon; 19. Brad Prows; 20. Kenny Kirkpatrick; 21. Brandon Hoekstra; 22. Shane DeVolder; 23. Jarod Fast; 24. Levi Kiefer.May 27 Feature ResultsModifieds –  1. DeVolder; 2. Sawyer; 3. Pounds; 4. Austin Burke; 5. Drake; 6. Holder; 7. Brown; 8. Steve Noland; 9. Cody Laney; 10. Reichenbach; 11. Shannon; 12. Daves; 13. Daly; 14. Kirkpatrick; 15. Austin Rodarte; 16. Reeves; 17. Aaron Rodarte; 18. Stanford; 19. Fitz-Gibbon; 20. Prows; 21. Flippo; 22. Burke, 23. Fast; 24. Carla Laney.Northern SportMods – 1. Michael Johnson; 2. Jason Nation; 3. Austin Frye; 4. Gary Dutton; 5. Kyle Wood; 6. Patti Ryland; 7. Brent Curran; 8. Austin Manzella; 9. Brylon Holder; 10. Donnie Hampl; 11. Aaron Farrell; 12. Wayne Coffman; 13. Matthew Mayo; 14. Parker Maccianti; 15. Kollin Hibdon; 16. Kevin Johnson; 17. Matthew Hagio; 18. Fred Ryland; 19. Paul Harris; 20. Joey Claborn; 21. Austin Williams; 22. Brendon Frye; 23. Dylan Potter; 24. Mike Dean.last_img read more