Dutch political group tables legislation for higher discount rate

first_img50Plus, the Dutch political party for the elderly, has tabled a bill that would allow pension funds to use a discount rate for liabilities of at least 2% during the next five years.Currently, pension funds must discount liabilities against market rates with the application of an ultimate forward rate of 2.8%, which translates into a discount rate of approximately 1.2%.The party launched its initiative in order to prevent schemes cutting pension rights after having been underfunded for a consecutive period of five years, as required by the new financial assessment framework (nFTK).Clarifying the proposal, Martin van Rooijen, a candidate MP for 50Plus for the parliamentary elections next week, said that the 2% rate would automatically be cancelled as soon as the European Central Bank (ECB) stops its programme of quantitative easing. The ECB today decided to maintain its programme, which will see it purchase €780bn worth of bonds by the end of the year.The five-year period suggested by the party matches calculations of the Netherlands Bureau for Economic Policy Planning (CPB), which found that the effect of a 2% discount rate on the various generations of workers and pensioners would be limited.Van Rooijen, who is currently a senator for 50Plus, also referred to Han de Jong, chief economist at ABN Amro Bank, who recently argued in favour of a higher discount rate.According to De Jong, it would be “historically absolutely unique, if pension funds would not achieve higher returns than 1.2% on a properly diversified investment portfolio”.In other news, John Kerstens, MP for the labour party PvdA, warned against reducing the accrual limit, as several political parties promise in their election manifestos.During a meeting of KPS, the lobbying organisation of pension specialists, he argued that employers and unions need support from their rank and file for adjustments to the pensions system.In his opinion, this won’t happen if politicians start interfering with the level of tax-friendly accrual, which is currently capped at an income of €103,317.The left-wing green party GroenLinks along with the religious right-wing parties ChristenUnie and SGP have all announced that they would decrease the tax-facilitated accrual, while socialist party SP said the issue was “negotiable”.The Pensions Federation made clear that it was still too early to comment on the issue, as the manifestos of the 15 parties likely to win seats following the election varied too widely.PGGM, the pensions provider for the €185bn healthcare scheme PFZW, indicated that the plans to limit tax-friendly accrual were ill thought-through and would undermine support for the pensions system.Meanwhile, the PvdA and the liberal democrat party D66 said they wanted to reduce the income level subject to mandatory pensions accrual.However, Pieter Omtzigt, MP for the Christian democrats CDA, rejected the plan of PvdA and D66, arguing that this would come at the expense of solidarity between higher and lower paid workers within companies.last_img read more

Brisbane’s strong prestige market secures spot on top 100 for first time

first_imgAmong luxury homes currently on the market in Brisbane is 50 Dauphin Terrace, Highgate Hill, for $11m. Picture: Realestate.com.auA STRONG performance in Brisbane’s prestige property market has seen the city shoot up the world rankings, overtaking Melbourne for price growth in the luxury home market.Knight Frank will today reveal that Brisbane, for the first time, has earned a spot in its Prime International Residential Index (PIRI 100), which tracks the movement of luxury residential prices in the world’s top 100 cities.“The PIRI 100 is now in its 12th year, however this is the inaugural inclusion of Brisbane in the index,” Knight Frank’s Australian head of residential research Michelle Ciesielski said.Five Australian cities earned spots on the index, with Brisbane (31) falling just behind Sydney (30) but well ahead of Melbourne (41) in terms of price growth, according to The Wealth Report 2019. 10. For sale — 90 Virginia Avenue, Hawthorne How a 1940s cottage transformed From pensioner to multi-millionaire 4. Sale by negotiation — 10 Morgan Street, Ascot LUXURY HOMES NOW ON THE MARKET 5. Price on application — 23 Killara Avenue, Hamilton The result is due to a three per cent increase in values in Brisbane’s prestige market last year, with Sydney just ahead with 3.1 per cent growth.Melbourne recorded 2.2 per cent growth, while Perth and the Gold Coast shared 42nd position with 2.1 per cent growth in their respective luxury markets.Last year, Sydney and Melbourne were ranked 9th and 14th respectively. 8. Auction — 39 Griffith Street, New Farm 10 Morgan Street, Ascot, is currently for sale by negotiation.Mr Adcock said interest from wealthy buyers was coming predominantly from Chinese buyers, interstate migrators and expats keen to return home to Brisbane after living abroad.Of the Chinese buyers, he said about half of those were from mainland China and Hong Kong and local Chinese buyers upgrading from the likes of Sunnybank to be close to the city, schools and universities. More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours ago23 Killara Avenue, Hamilton — one of the largest private landholdings in the area — is currently for sale.“There is still a large percentage of local upgraders the big interest in the high-end market is really coming from those groups (interstate and overseas),” he said.“They are happy to splash the extra cash to secure a property.”Ray White New Farm principal Matt Lancashire agrees, saying he expects Brisbane to rank even higher next year. He completed 19 sales last quarter, averaging $3.2 million.“The Brisbane prestige market used to sit over $2 million but now its $3 million plus and a $5 million is the norm, a $10 million sale is also no longer an anomaly. Currently for sale in Brisbane is this riverfront home at 121 King Arthur Terrace, Tennyson. This Brisbane riverfront mansion at 90 Virginia Avenue, Hawthorne, is for sale and is on a large 1,619sq m block.Ms Ciesielski said the PIRI 100 focused on the top five per cent of the market by value. She said the Australian prime market continued to track above the global average of 1.3 per cent for luxury residential price growth over the year to December 2018.Australia has also retained its position as the third most popular country for those planning to buy prime residential property globally in 2019 — behind the US and the UK, according to The Wealth Report Attitude Survey. (Source: realestate.com.au)center_img 1. $11 million — 50 Dauphin Terrace, Highgate Hill 47 Hazelmere Parade, Sherwood, is among sprawling homes for sale in Brisbane.“We have a lot of wealth in Brisbane, old money and new, and I have 30 year olds on my books with $5 million to spend, no problem.“Personally, I think 2019 will be the year for high-end sales in Brisbane.”Both men said they had a database of wealthy buyers just waiting to pounce on the perfect trophy home, with some in the $10 million-plus price range.“Buyers are seeing good value in the Brisbane prestige market,” Mr Adcock said. 7. $6.7 million to $7 million — 17 Julius Street, New Farm Record breaking sale penned for skyhome 33B Harbour Road Hamilton, goes to auction at 6pm on Tuesday March 26.Brisbane’s strong result was not a surprise to two of Brisbane’s leading luxury residential agents, with both expecting another year with big sales.“I have seen a complete resurgence in wealthy buyers,” Jason Adcock of Adcock Prestige said. “Just in the last seven days I have sold three multimillion-dollar properties in the $2 million to over $3 million bracket, and have offers on four other properties that I am hoping to finalise in the next 24 hours.” MORE REAL ESTATE NEWS 3. Auction — 33B Harbour Road, Hamilton 9. By negotiation — 47 Hazelmere Parade, Sherwood 6. Sale by negotiation — 47 Longman Terrace, Chelmer 2. For sale — 121 King Arthur Terrace, Tennyson NRL captain’s push for side hustlelast_img read more

Trump confirms death of IS leader Baghdadi

first_imgRussia opened up its airspace for theraid and Kurdish allies gave some helpful information, according to Trump, whowatched the operation unfold with Vice President Mike Pence and others.(Reuters) “Last night the United States broughtthe world’s No. 1 terrorist leader to justice,” Trump added. Under Iraqi-born Baghdadi’s rule,Islamic State – which at one point controlled swathes of Syria and Iraq – wasresponsible for gruesome attacks against religious minorities and fivecontinents in the name of a form of ultra-fanatical Islam.   Islamic State leader Abu Bakr al-Baghdadi killed himself during a daring overnight raid by elite United States (US) special operations forces in Syria, US President Donald Trump said on Sunday. AP photo/Al Furqan/DWcenter_img WASHINGTON – United States (US)President Donald Trump announced that Islamic State leader Abu Bakr al-Baghdadikilled himself during a daring overnight raid by elite US special operationsforces in Syria.  Baghdadi died alongside three of hischildren by detonating an explosives-laden vest when he fled US forces into adead-end tunnel during the attack, which took place in the Idlib region innorthwest Syria, Trump said on Sunday. last_img read more

Scots battle to victory

first_imgScotland produced an incredible defensive display to beat Ireland 12-8 and break their Irish Murrayfield hoodoo. Referee Wayne Barnes was heavily involved in a opening that burst into life when Luke Marshall powered between two weak tackles before sending a long pass to left wing Keith Earls. Earls was held up just short of the line and then Brian O’Driscoll was kept out in virtually the same spot. Finally Ireland, who had dominated the preceding 35 minutes, were off the mark courtesy of a Jackson penalty that came after the Scottish line had been vigorously tested. The try the Irish desperately needed arrived through Gilroy three minutes after the break with the strength of Sean O’Brien cracking the Scottish defence to start the move. Full-back Rob Kearney was heavily involved before the ball was slipped to Gilroy on the blindside and the Ulster wing span before touching down. Jackson missed the conversion and then a penalty, contrasting with Laidlaw who slotted three points from in front of the posts. Scotland were playing with far greater conviction and urgency, with Sean Maitland almost wriggling through, and when Ireland’s scrum crumbled Laidlaw landed a second penalty. The momentum of the game had shifted completely and suddenly it was Scotland who were in control, a fact rewarded when Laidlaw nudged them ahead for the time as the final 15 minutes beckoned. Substitute David Kilcoyne conceded a penalty and Laidlaw obliged, and a grandstand finish was set up when the Scots infringed in front of the posts and Ronan O’Gara kicked for the corner. The stage was set for Ireland to snatch victory, but O’Driscoll ran into his own player and Scotland were awarded a five-metre scrum. Press Associationcenter_img Declan Kidney’s men had not lost in Edinburgh since 2001 and looked set to extend that record as they dominated the first half, with possession statistics nearing 80%. But after 55 minutes they had just a Paddy Jackson penalty and Craig Gilroy’s unconverted try to show for their dominance. That allowed Edinburgh scrum-half Greig Laidlaw to kick his side back into contention and ultimately onto success with four perfect penalties. last_img read more

Parker’s double gives GSA playoff win over Bucks; EHS baseball, Bucksport softball advance

first_img MPA approves golf, XC, field hockey, soccer; football, volleyball moved to spring – September 10, 2020 Bio Latest Posts Latest posts by Mike Mandell (see all) BLUE HILL — From the moment it left his bat, Ben Parker’s hit to left-center field left little doubt.With two outs in the sixth inning of Thursday’s Class C North quarterfinal matchup, Parker, a George Stevens Academy junior, stepped up to the plate. In the midst of a scoreless pitchers’ duel between the Eagles’ Stefan Simmons and Bucksport’s Isaac Moore, a base hit to just about anywhere in the outfield would put GSA on the verge of victory.As Moore delivered on a 2-1 count with runners on first and second, Parker let it rip. The ball sailed off his bat all the way to the left-center field fence to score Ethan Vinall and Tyler McKenney, and by the time it made its way back to the infield, Parker was standing on second base clapping his hands as his teammates celebrated in the dugout.“I knew it was going to be a big hit as soon as I hit the ball,” Parker said after the game. “Sometimes it’s as simple as just going out there and finding a pitch to hit. That’s all I did.”This is placeholder textThis is placeholder textIndeed, baseball can be that simple at times, and on a day when there seemed to be little to no separation between two ace pitchers, finding that pitch to hit made all the difference.GSA’s Ethan Vinall hits a line drive during the third inning of a high school baseball playoff game against Bucksport on June 7 in Blue Hill. GSA will take on top-seeded Houlton on the road in the Class C North semifinals at 1 p.m. Saturday, June 9. ELLSWORTH AMERICAN PHOTO BY MIKE MANDELLParker’s two-out double in the sixth inning proved to be the deciding play as fourth-ranked GSA edged No. 5 Bucksport 2-0 in the Class C North quarterfinals Thursday. The win stretched the Eagles’ winning streak to five games and put the team within one win of its fourth regional title game appearance in five years.Bucksport started off the game with two base hits in the first inning but was unable to plate any runs. That was the closest either team would get to scoring in the first three frames as both pitchers dominated opposing batters in front of a packed house in Blue Hill.GSA had a chance to take the lead in the fourth inning with the bases loaded and one out, but Moore recorded a strikeout and a groundout to escape the jam unharmed. When the Golden Bucks loaded the bases themselves in the top of the sixth, Simmons made one of the game’s biggest plays when he snagged a line drive out of the air for the final out of the inning.“I knew the ball was coming straight at me as soon as it was hit, and I just had to take a stab at it and make the play,” Simmons said. “It’s just a reflex you have when you’ve been playing baseball for a long time.”In the bottom of the sixth inning, Parker took his chance. With the ball sailing almost all the way to the fence, the Eagles were able to plate not one but two runs before Simmons retired the side in the seventh to secure the victory.Simmons finished the game with seven strikeouts for GSA and added a double at the plate. Parker had a team-high two hits for the Eagles (12-5), and Marshal Lebel had the other.Sophomore Christian Chase-Hurd finished with a pair of singles for Bucksport (9-8), which had four hits as a team. Moore had six strikeouts in as many innings of work for the Golden Bucks.Bucksport’s Isaac Moore throws a pitch during the third inning of a high school baseball playoff game against GSA on June 7 in Blue Hill. Moore struck out six batters in as many innings of work in the Golden Bucks’ 2-0 loss to the Eagles. ELLSWORTH AMERICAN PHOTO BY MIKE MANDELLGSA’s next game will be on the road against No. 1 Houlton (12-3) at 1 p.m. Saturday, June 9. Although the game will be a rematch of the 2016 Class C North championship game, which the Eagles won 3-1, GSA will have to win in The County if it wants to return to the regional title decider this time around.“We’re not excited for the long ride [to Houlton], but I think we have to feel good about how we’re playing,” Parker said. “I hear they have a nice ballpark, and we’ll be ready to go out there and play.”EHS baseball, Bucksport softball advanceThe Ellsworth baseball and Bucksport softball teams took advantage of having the No. 1 seeds in their respective Northern Maine fields Thursday to advance to the regional semifinals.Ellsworth (16-1) won its 14th consecutive game with an 8-0 win over No. 8 Nokomis. Conner Wagstaff struck out a whopping 15 batters for the Eagles, who had 12 hits at the plate to breeze to a berth in the Class B North semifinals.The Eagles will be at home against No. 4 Oceanside (15-3) at 1 p.m. Saturday. A win would send the Eagles to the Class B North title game for the first time in more than a decade.In Bucksport, Kate Saunders had five strikeouts on the mound and two hits at the plate to lead the Golden Bucks to a 7-3 win over No. 8 Dexter (9-9). MaKenzie Smith blasted a home run over the center-field fence for the home team in the win.Bucksport will host No. 5 Orono (10-7) in the Class C North semifinals Saturday. The Golden Bucks beat Orono 13-1 and 17-3 in the regular season.Bucksport’s Darian Jellison tracks down a pop fly during the third inning of a high school softball playoff game against Dexter on June 7 in Bucksport. The Golden Bucks won the game 7-3 to advance to the Class C North semifinals. RICK MCHALE PHOTOElsewhere on Thursday, the Mount Desert Island and Deer Isle-Stonington baseball teams and Ellsworth softball team saw their seasons end in defeats after posting solid wins one day earlier.In Bar Harbor, third-seeded MDI fell to a 4-1 defeat against No. 6 Gardiner (14-4). Senior Alden Fournier pitched a complete game for the Trojans (12-6) in the loss.At Husson University, No. 10 Deer Isle-Stonington was unable to produce its second upset in as many days and fell 6-0 to second-ranked Bangor Christian (13-4). The Mariners (5-13) had previously defeated No. 7 Greater Houlton Christian on Wednesday.No. 13 Ellsworth put forth a valiant effort on the softball diamond but found itself on the losing side of a heartbreaker as No. 5 Foxcroft (15-3) came away with a 2-1 win. Senior Katelynn Bagley had a single and a stolen base for the Eagles (7-11) in the road defeat.center_img Mike MandellMike Mandell is the sports editor at The Ellsworth American and Mount Desert Islander. He began working for The American in August 2016. You can reach him via email at mmandell@ellsworthamerican.com. Hospice volunteers help families navigate grief and find hope – September 12, 2020 Ellsworth runners compete in virtual Boston Marathon – September 16, 2020last_img read more

J-E boys beat Skaneateles; Marcellus gets win at Cazenovia

first_imgNo one on the Eagles could produce much except for Waldron, who poured in 19 points. The next-highest scorer, Meili, had just six points, with Holbrook held to four points.Skaneateles lost, too, upended 69-41 by a Bishop Ludden side that had stewed for five days after a last-second defeat to “Holy War” rival Christian Brothers Academy.Hot out of the gate, the Gaelic Knights amassed a 45-25 lead by halftime, and spread things around, too, putting four players in double figures.Mykell Kaigler led with 15 points, but Jarin Beauford (14 points), Grant Baker (11 points) and Nazier Kinsey (10 points) were close behind, overcoming 17 points by the Lakers’ Nate Fouts as Jack Whirtley added eight points.J-E wasn’t the only one with a big league win last Tuesday. Marcellus ventured to Cazenovia and, buoyed by its defense, took out those other Lakers 47-40.Though 9-4 going into the game, the Mustangs lacked a high-quality road win, but after it trailed 14-12 through one period, it methodically contained Cazenovia the rest of the way and then built its margin in the final minutes.Luke Ingianni and Tristan Jarvi led Marcellus with 13 points apiece. Jared Sammon had nine points, with Ryan Sammon and Cory Cangemi each getting six points. Cazenovia lost despite 16 points from Alex Moesch.Back home Friday night to face Christian Brothers Academy, the Mustangs could not generate much of an attack in a 53-34 loss, held to five points in the first quarter and unable to recover from that early slump.Not to be forgotten in all this, Westhill won twice last week, starting Tuesday with a trip to Phoenix that resulted in a 68-35 romp over the Firebirds.Continuing to diversity its attack, the Warriors saw Elliott Rouse lead the way, earning 18 points, just ahead of James Kelley’s total of 15 points. Zechariah Brown got 12 points as Luke Gilmartin and Rusden Bryant had six points apiece.Then the Warriors handled Mexico 60-35 two nights later for its seventh win in eight games, getting four players to score in double figures.Kelley set the pace thanks to 16 points. Brown and Rouse each got 15 points, with Liam Sanborn getting 12 points as the Warriors geared up for a Monday showdown with Solvay, whom it lost to on Jan. 2.Share this:FacebookTwitterLinkedInRedditComment on this Story The sight of Jordan-Elbridge boys basketball players and students celebrating on the court last Tuesday night gave a small indication as to just how important its 53-48 victory over Skaneateles was on several levels.Short-term, the Eagles had knocked off a neighbor and rival who had beaten them plenty in recent years. Long-term, it showed that J-E could again prove difficult to knock off once the Section III Class B playoffs roll around.It was close all the way through, Skaneateles up 28-25 at halftime, but the Eagles using a big third quarter to inch in front, 43-42, and then containing the Lakers well in the final minutes to hang on. Tags: boys basketballJ-EMarcellusskaneatelesWesthillcenter_img Dakota Holbrook, with 11 points, led a well-balanced J-E attack. Tyler Waldron and Alex Pond each had 10 points, while Myles Town and Jeremy Meili got nine points apiece.Looking for another big win at Bishop Grimes Friday night, the Eagles instead ran into a desperate Cobras squad and took a 72-48 defeat.Grimes had lost four in a row, and raced out 38-21 on J-E by halftime, continuing to add to that margin as Joe Wike (13 points), Jack Gutchess (12 points) and Ian Denton (11 points) led the way.last_img read more

Sunshine Stars Accepts Sanctions, Pleads for Leniency

first_imgPresident of Sunshine Stars FC, Otunba Tajudeen Akinyemi has communicated in writing the club’s decision to accept the recent disciplinary measures imposed on the club by the League Management Company (LMC) including three points deduction for repeated offence of fans’ unruly conduct and hostility towards match officials.In their response to the Summary Jurisdiction notice issued by the LMC last Friday, Tunde Ogunja, who signed on behalf of the club acknowledged that all the infractions listed by the LMC were valid but pleaded that the points deduction be revisited.Sunshine Stars Management also apologized for the incident noting that it ‘regretted the action of an isolated miscreant occasioning harm perpetrated (sic) against the Referee and one of the Assistants on their way to the dressing room after the conclusion of the match…”. “Sir, it must be stated that the Management of Sunshine Stars FC condemn in strong terms this type of barbaric attitude and will never associate itself with such group of isolated individuals who are out to destroy our prestigious league with conducts that are capable of bringing the league into disrepute”, Ogunja wrote in the letter to LMC.The Club also assured the LMC that it had already acted in collaboration with the State Football Association and Security agencies to identify and apprehend the culprit, pledging to ensure that he is prosecuted.In appealing for mitigation of the disciplinary measures, Sunshine Stars management acknowledged that all the charges and previous sanctions cited by the LMC were valid but however, pointed to the fact that it happened in previous administrations of the club.“Therefore, with all due respect, we plead with the league body to give the current President a chance to redeem its image”, they further requested.While undertaking to pay in full the compensation of N.5m to the injured match official, the club entered a plea for the LMC to waive the three point deduction.Chief Operating Officer of the LMC, Salihu Abubakar said the response is being studied and thus, I cannot make any comments at this point”.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Betsson AB sees no home comforts closing tough 2019

first_img Related Articles LeoVegas hits back at Swedish regulations despite Q2 successes August 13, 2020 Submit Publishing its full-year 2019 results, Stockholm-listed online gambling group Betsson AB details that it has achieved its strategic goals in a year of tough industry challenges and corporate adjustments.Tougher operating conditions within its Nordic home markets and the Netherlands see Betsson record a 5% decrease in group revenues to SEK 5,173m / €493m (FY2018: SEK 5,419m).Lower group revenues would be further frustrated by an operating margin drop to 16% (2019: 22%) as Betsson posts an 28% operating EBIT decline of SEK 865m / €82m (FY2018: SEK 1,193m).Closing its full-year 2019 accounts, Betsson governance declares a corporate net income of SEK 787m representing a 27% decrease on 2018’s corresponding SEK 1,078m.Despite 2019’s negative outcomes, Betsson President & CEO Pontus Lindwall remains optimistic on the firm’s underlying strategy, closing a year of tough adjustments for all industry incumbents.“We are proud to report a 2019 full-year operating profit of SEK 865 million,” he said. “This shows that Betsson has the ability to run a profitable business, even during a year of challenges. Despite a notch in the growth curve, our ambition is to grow more than the market, organically and through acquisitions.”A regional breakdown of Q4 2019 trading saw group revenues in the Nordics decline 32% to SEK 450m (Q4 2019: SEK 659m) alongside Western Europe revenues decreasing to 15% to SEK 387m (Q4 2019 SEK 455m).In its Q4 statement, Betsson details that local taxed revenues primarily attributed to Sweden and Italy had increased by 41% to SEK 464m (Q4 2019 SEK 330m), corresponding to 36% of group revenues.Countering multiple tax adjustments, Betsson governance details that it continues to ‘review its business models’ to adapt to market realities, whilst in-turn evaluating ‘new market opportunities in order to grow revenues and earnings’.Lindwall added: “During the fourth quarter we made a minor strategic acquisition and continue to analyse several opportunities, both in locally regulated markets and in markets that will be regulated. By further increasing the geographical distribution, we can reduce the impact of temporary downturns in individual markets.” Share Share Betsson outrides pandemic challenges as regulatory dramas loom July 21, 2020 Spelinspektionen reminds operators of AML responsibilities July 2, 2020 StumbleUponlast_img read more

Lionel Messi, others undergo surprise drug tests

first_imgLionel Messi and his fellow Argentinian World Cup squad members were subjected to an unexpected anti-doping test on Tuesday, a day after the squad convened for the start of a training camp in the Buenos Aires suburbs.According to Argentine sports channel TyC Sports, six FIFA-appointed doctors were sent to the team’s training base in Ezeiza, where players were forced to train inside due to the cold, foggy conditions.Lionel MessiMidfielders Fernando Gago and Ever Banega trained separately from the rest of the squad with the pair still working their way back from injury.Meanwhile Angel Di Maria, who helped Real Madrid win the Champions League final on Saturday, touched down Tuesday in Buenos Aires before taking a private jet to his hometown Rosario. He is scheduled to join the group at the end of the week. Two-time world champions Argentina, who haven’t been past the quarter-finals since the 1990 World Cup, will play debutants Bosnia in their Group F opener on June 15.The South Americans have also been drawn alongside Iran and African Cup of Nations champions Nigeria.last_img read more