Category: cpteh

Saudi chairs G20 crisis talks as virus threatens recession

first_imgLeaders of the G20 major economies will hold an online summit Thursday in a bid to fend off a coronavirus-triggered recession, after criticism the group has been slow to address the crisis.US President Donald Trump and Russian President Vladimir Putin will join the emergency videoconference chaired by Saudi Arabia’s King Salman, who is also under pressure to end an oil price war with Moscow that has roiled energy markets.The talks come as the global death toll from COVID-19 soared close to 21,000 and over 3 billion people were locked down in their homes. WHO chief Tedros Adhanom Ghebreyesus urged G20 nations to offer support to “low and middle income countries”, including from Sub-Saharan Africa.This week, French President Emmanuel Macron and his Chinese counterpart Xi Jinping pushed for an emergency G20 summit to limit the impact of the pandemic.French presidential sources said the virtual meeting would focus on “coordination on the health level” as well as sending a “strong signal” to financial markets over efforts to stabilise the global economy. ‘Missing in action’ With world leaders divided, the meeting stands in contrast to the G20 summits following the 2008 financial crisis, when the group swung into action to mobilize assistance for vulnerable countries.”The G20 is missing in action today, unlike 2008,” said Ian Bremmer, president and founder of the Eurasia Group.Talk of global coordination has yet to resonate under the isolationist US presidency of Trump.On Wednesday, US Secretary of State Mike Pompeo took aim at China, saying the top diplomats of the Group of Seven agreed with him that Beijing was waging a “disinformation” campaign about the pandemic.At the G7 talks, a day before the G20 summit, Pompeo alleged Beijing was engaged in a social media campaign that included conspiracy theories that the US was behind the virus, first detected in the Chinese metropolis of Wuhan. “If G20 leaders can put politics aside and reach a collective G20 agreement, countries have a better chance of success or of delivering more stimulus than on their own,” Markus Engels, from the Global Solutions Initiative, told AFP.”Coordination among the G20 sends a strong message of unity and confidence, both of which are urgently needed now.”Crude oil prices — hammered by the outbreak’s impact on demand as well as by a price war between Saudi Arabia and Russia — are also expected to be at the centre of the discussions.Riyadh faces pressure from Washington to row back on its decision to hike production and offer the biggest price cuts in two decades, in retaliation for Russia’s refusal to tighten supply as the virus saps demand.On Wednesday, Pompeo urged Saudi Crown Prince Mohammed bin Salman to “rise to the occasion” and “reassure global energy and financial markets”.The G20 members will be joined by leaders from other affected countries including Spain, Jordan, Singapore and Switzerland, Riyadh said.Leaders from international organizations such as the United Nations, World Bank, the World Health Organization (WHO) and the World Trade Organization (WTO) will also participate. “As the world confronts the COVID-19 pandemic and the challenges to healthcare systems and the global economy, we convene this extraordinary G20 summit to unite efforts towards a global response,” the king of Saudi Arabia, which currently holds the G20 presidency, said on Twitter.The meeting, expected to be held at 1200 GMT, comes as the world’s 20 most industrialized countries scramble to defend their virus-wracked economies amid forecasts they will likely plunge into recession this year.On Wednesday, the financial ratings agency Moody’s estimated the G20’s overall gross domestic product would contract by 0.5 percent, with the US economy shrinking by 2 percent and the eurozone by 2.2 percent.While wealthy nations including the US have unveiled mammoth stimulus packages, there has so far been no collective action plan from the G20, and concerns are mounting for poorer countries without access to capital markets and adequate health facilities. Topics :last_img read more

Swiss BVK defends cuts in technical parameters as ‘necessary’

first_imgIn July, the CHF28bn (€23bn) pension fund covering 470 employers and 114,000 employees and pensioners in total, had decided on various measures to come into effect from 2017.It pointed out those were necessary to “stop the current transfer of assets from active members to pensioners” which amounted to CHF450m last year.The discount rate applied to active members’ assets (“technischer Zins”) will be cut from 3.25% to 2%, which automatically leads to a cut in conversion rates.From 2017, a man retiring at 65 would be subject to a conversion rate of 4.82% – applied to calculate a life-long pension from his assets – whereas currently a rate of 6.20% is applied.In order to maintain their current pension payments in retirement, employers and employees would have to make additional contributions with the BVK considering compensation measures for the transition phase.Further, the fund would switch from periodic tables to generation tables to calculate longevity as the latter provided ”a more meaningful comparison”, the fund noted in a press release.The fund explained the timing was necessary as “from 2017 the baby boomers will retire”, which will put further pressure on the financing of the BVK.But the union argued the additional financing, at least some of it, should have come from the canton rather than an increase in contributions and a cut in pension promises.According to the VPOD the announced changes are the BVK “cowtowing to the canton”.In the July meeting, the board of trustees also decided not to directly file any lawsuits against the canton of Zurich regarding the corruption scandal around the year 2008.At the time, the BVK was still run by the cantonal authorities but the pension fund noted various expert assessments did not yield any definite damage sum for wrongful investment decisions made during those years.Therefore, the BVK has now come to an out-of-court agreement with various financial service providers.In a statement, the pension fund stressed these decisions were aimed at “closing the chapter” on the corruption scandal. Switzerland’s BVK, the pension fund for employees of the canton of Zurich, may see recent changes to technical parameters scrutinised by the local regulator after civil servants’ union VPOD said it was considering a complaint.In an open letter, the union has criticised the BVK for the “radical” changes to come into effect from 2017 which “endanger the level of pension [payments] put down in the pension funds’ founding document”.However, in a response sent to IPE, the BVK stressed the cuts has been approved by the trustee board which was “equally comprised of representatives of employers and employees”.A BVK spokesman noted the changes have been explained to the members and that they were “understanding the decision with hardly any criticism being voiced”.last_img read more

OWC 2018: New Markets for Offshore Wind

first_imgThe offshore wind industry is expected to grow to 120GW total installed capacity by 2030. In North-West Europe, the North, Irish and Baltic Seas are relatively shallow and have sandy bottoms. While most seas in the world have rock-like bottoms and deeper waters.Other global regions also have to deal with volatile weather changes, such as hurricanes. Next to that, rules and regulations could potentially prove challenging for companies wanting to do business in new markets. Much of this growth will take place in Europe but there will also a considerable increase in capacity in North America and Asia.This session takes a closer look at growth markets and newcomers and the business opportunities they bring together with Liz Burdock, Executive Director at Business Network for Offshore Wind USA, and Edgare Kerkwijk, Board member at Asia Wind Energy Association in Singapore and Stefan Lettink, Director Wind at Royal IHC.Offshore Wind Conference 2018Are you ready for the new dawn for offshore wind? Come to OWC 2018 and discover how you and your company can prepare for the new industry standards. Read the full programme and book your tickets.OWC is held as part of Offshore Energy Exhibition & Conference; find our more on the event and full conference program via read more

New water project to open doors in Petit Savanne

first_imgLocalNews New water project to open doors in Petit Savanne by: – April 11, 2011 Sharing is caring! Tweet Share Sharecenter_img 18 Views   no discussions Hon. Dr. Kenneth Darroux. Photo credit: 1.5 million dollar water project in Petit Savanne is expected to boost opportunities in that community.That’s the word coming from Parliamentary Representative for the Petit Savanne constituency Dr. Kenneth Darroux.Darroux made the remarks at the official commissioning of that project in Petit Savanne on Friday.“The construction of a brand new road to the intake has made available lands for possible village expansion and vehicular access to agricultural land. In fact we are looking at a site in that area for the possible construction of a resource center,” Darroux said.According to him, although the project has been long in coming, the project “is very beneficial to the people of the Petit Savanne community.He said further that work has already begun on a project geared at improving the water supply in Bagatelle.“These are the signs of a working government and one that cares about the needs and quality of life of its people in spite of the financial difficulties that we might be facing,” he added. Dominica Vibes News Sharelast_img read more

Hillforest re-opening soon

first_imgAURORA, Ind. — Hillforest Victorian House Museum will re-open for its 61st touring season on Saturday, April 1.The 1855 fully restored Victorian home of Thomas and Sarah Gaff in Aurora, offers guided tours Tuesday through Sunday from 1 – 5 PM.Admission is $10 for anyone age 14 and up, or $4 for children ages 7 -13.Kids 6 and under are free. Hillforest’s featured exhibit is “Bags, Bonnets, and Baubles,” a display of antique and vintage ladies hats, purses, and jewelry.Hillforest is a National Historic Landmark and one of Dearborn County’s top tourist attractions.last_img

Rumours mount despite Jose claims

first_img Mourinho has for weeks insisted January is not the month for buying the players he needs and that Chelsea will only make a move if circumstances dictate the time is right. Prior to last week’s FA Cup win at Derby, he said: “The market is open, but for us, almost closed.” And before the defeat of Crystal Palace in mid-December, he said: “The market opens in January, but as I was saying, I don’t think we will be there, buying or selling. “If something happens it will happen (with) one player because the occasion was very good. “We always thought to try the best with this team and wait for the right moment to improve the squad and be strong.” Gone are the days when owner Roman Abramovich writes a blank cheque, and the Blues must cope with a £49.4million loss in their most recent annual results in an era of Financial Fair Play. Mourinho has dismissed a move for Gonzalo Higuain of Napoli and believes the “killer” striker he covets is not available at this time of year. He insisted he would be sticking with Fernando Torres, Samuel Eto’o and Demba Ba. Ba has had opportunities limited and been repeatedly linked with a switch away, including to his former club West Ham. Inter Milan’s Colombian winger Fredy Guarin has been linked with a move to Stamford Bridge, but Chelsea are hardly short in the forward-thinking-midfielder department, even if Kevin De Bruyne is allowed to leave. Belgium forward De Bruyne is eager to move amid reports linking him with Wolfsburg; all that stands in the way is the not insignificant hurdle of a fee being agreed. Chelsea face Hull on Saturday amid speculation Jose Mourinho is planning to be active in the transfer market despite the manager’s protestations to the contrary. Mourinho wants De Bruyne and Juan Mata, who have struggled to adopt the work ethic he has asked for, to fight for their places. Mata has indicated he is prepared to but should the Spanish playmaker or De Bruyne be sold, Chelsea may reinvest the funds. One player who has coped well with Mourinho’s demands is Willian, the Brazil forward who Chelsea snatched from under the noses of Tottenham in August. “The last few matches have gone very well and in each match I’m looking to do better,” Willian told Chelsea TV. “I’m looking to keep up good form until the end of the season.” Chelsea have won four of their last five games, conceding one goal, but will be wary of Hull, who beat Liverpool at the KC Stadium in early December and Fulham 6-0 in their most recent home match. Chelsea played some of their best football of the season against Hull in Mourinho’s first match of his second spell in charge in August and the Portuguese will hope for a similar showing on Saturday. Press Associationlast_img read more

Poyet determined to play

first_imgDiego Poyet is determined to establish himself in Slaven Bilic’s West Ham side in the forthcoming season. Press Association The 20-year-old joined the Hammers from Charlton last summer but has only played three times in the Premier League. He spent a spell out on loan at Huddersfield last season but could find first-team opportunities easier to come by at Upton Park this year as Bilic looks to lead his side into the Europa League group stages. center_img Poyet turned out for West Ham in their 3-0 victory over Andorra minnows FC Lusitans in their first qualifying round tie on Thursday night. And the Uruguay Under-20 international, son of former Chelsea and Tottenham ace Gus Poyet, wants to stay put and stake his claim for a prominent role in Bilic’s plans. “My preference is to want to be at West Ham,” he said when asked if another loan move may be on the cards. “That is where I want to be and that is where I want to play. If the manager tells me ‘Look you are better off going out on loan and get some games’ then I will respect him for that and I will do that. But until I am told to leave I am not going anywhere. “If you are a young player and not playing then soon as there is a new manager, the thing you want to do is impress. In a way to get into his good books and he trusts you. “That is the important thing. If you are young but the manager trusts you, it doesn’t matter how old you are. He has faith in you, he is going to play you, or at least give you a chance.” With the Europa League fixtures and the hope of further runs in the FA Cup and Capital One Cup, Poyet believes he and a number of other young players at the club will be given their opportunities to shine. “It depends how far we get in things like cups and Europa league,” the midfielder said of his chances of playing more regularly. “He (Bilic) might give a chance to some of the young players. We were unfortunate last season as we lost the capital one cup against Sheffield United early on so it was difficult. Hopefully fingers crossed some youngsters will get the chance to play.” last_img read more

Gosia Wlaszczuk plays well on offense, but it’s not enough for Syracuse in loss to Pittsburgh

first_imgSyracuse senior Gosia Wlaszczuk set the ball high for fellow senior Silvi Uattara. The tall hitter strode up and pounded the ball hard into the floor, turning to her teammates as the crowd went wild. The Pittsburgh frontline dropped their heads, and Pittsburgh libero Angela Seman laid sprawled on the ground.This shot — a lofting set from Wlaszczuk, followed by a resounding kill from an SU hitter — has been all too common of a sight for opposing teams this season. The Orange ranks 12th in the Atlantic Coast Conference in kills, and many can be traced back to Wlaszczuk.Friday night was no different.The Orange setter tallied 40 assists, but it wasn’t enough for Syracuse (12-4, 3-2 ACC), as it fell, 3-1, against the Panthers (13-4, 3-2). Many of the assists went in the direction of freshman Santita Ebangwese, one of SU’s top offensive powers so far in 2015. Ebangwese finished with nine kills.“I know that (Gosia) is really consistent, and when I call for the ball, I know it’s going to be there,” Ebangwese said, “And I can choose to make good decisions (with it).”AdvertisementThis is placeholder textWlaszczuk was active early, shifting from the frontline to the back mid-play.At one point in the second set, the versatile senior launched a serve over the net, and within seconds was back in position, lofting a set to senior Monika Salkute, who sent home the kill.“I’m glad all of my hitters were on the high level today,” Wlaszczuk said, “I have to see my hitters when they have a hot hand.”The senior reached the 1,000 career assist mark in the UConn Invitational at the beginning of the season, and has been focusing on her consistency throughout the 2015 campaign.One of the key consistencies in her game has been spreading the ball to her teammates.For the entirety of the four-set match, Wlaszczuk piled on the assists, handing them out to each of her hitters. The Orange finished with 43 kills, spread over six hitters.“After every set, I try to look at the numbers,” Wlaszczuk said, “I’m trying to hit my hitters equally.”Uaatra saw her third 10-plus kill game in the last four, ending with 12 total.In the third set, the Orange pushed a comeback, led by a number of key sets from Wlaszczuk. But it never fully materialized for SU, as the Panthers took the set after a brief timeout.Wlaszczuk tallied her 40th and final assist late in the fourth set.In the end, the Orange was unable to find its footing against the Panthers, dropping its second ACC game of the season. However, the consistency from Wlaszczuk and her leadership on the court couldn’t be undermined by head coach Leonid Yelin.“I always compare it to football,” Yelin said, “Without a quarterback, even with a great offense, you have no team.” Comments Published on October 9, 2015 at 10:40 pm Contact Matt: Facebook Twitter Google+last_img read more

Syracuse basketball recruiting: Turkish 7-foot star Omer Yurtseven picks North Carolina State over the Orange

first_img Comments Published on May 16, 2016 at 1:01 pm Contact Sam: | @Sam4TR Class of 2016 Turkish center Omer Yurtseven picked North Carolina State over Syracuse and Utah on Monday morning, according to multiple reports.The 17-year-old star visited Syracuse on May 4 and turned down a lucrative contract from his club team, Fenerbahçe, in order to achieve his goal of playing college basketball, according to Yurtseven also told Scout that he’d spoken with 15 schools, including Atlantic Coast Conference rivals North Carolina and Miami.The 6-foot-11, 230-pound big man recently scored 91 points and snagged 28 rebounds in a single U-18 game against Turkey. He went 34-for-49 from the field, attempting nearly 70 percent of his team’s shots and hitting five 3-pointers.He is a consensus five-star recruit and graded as a 99 in’s composite ratings. has Yurtseven projected to go as the No. 14 pick in the 2017 NBA Draft.Yurtseven averaged 9.8 points and 8.7 rebounds per game in nine games during the FIBA U18 European Championships last summer. The Orange’s last signed foreign recruit was Belgium’s Kristof Ongenaet, who played a limited role in his two seasons from 2007-09.AdvertisementThis is placeholder textHere’s a highlight video from Yurtseven in last year’s European Championships:center_img Facebook Twitter Google+last_img read more

Minister tapping into business of sports

first_imgSports Minister Olivia ‘Babsy’ Grange says her ministry will be looking to pick up on a feasibility study conducted in partnership with the United Nations Educational, Scientific and Cultural Organization (UNESCO) in 2007 in an effort to make sports a serious foreign-currency earner.In an interview with The Gleaner following welcome home celebrations for the island’s teams to the Carifta swimming and track and field championships, at the VIP Lounge at the Norman Manley International Airport earlier this week, the minister outlined that she hopes to market Jamaica as a sports tourism destination and training facility.”When I became minister in 2007, I had submitted a proposal to UNESCO to do a pre-feasibility study on Jamaica as a training facility for various sporting disciplines. That pre-feasibility study was funded and was actually done by someone from the University of Technology (UTech). The results were submitted to UNESCO and they were about to fund the feasibility study when we demitted office; and so we are gonna pick up where we left off, because I know that Jamaica is a brand and we should exploit that brand,” she outlined.”We can be that training facility, we can be the centre of sports tourism, the centre of culture tourism and we can be the centre of a creative industry, where Jamaica can say to the world, here we have the facilities. We have the infrastructure and we have the people with the skills to be able to provide what you need. Come to Jamaica,” she pointed out.last_img read more