Djoko’s clandestine return to Indonesia has implicated three high-ranking police generals, who were removed from top positions in the force for their alleged facilitation of Djoko’s travel within the country.Bareskrim Civil Servant Investigator Supervisory and Coordination Bureau head Brig. Gen. Prasetyo Utomo has been named a suspect by the police for allegedly issuing forged travel letters for Djoko.Indonesian Anti-Corruption Community (MAKI) chairman Boyamin Saiman previously urged authorities to trace the flow of funds in the case, suggesting there was more to be discovered.“We could look into additional alleged bribery surrounding the case if he were to open up,” Boyamin said during an interview with Kompas TV on Thursday.Corruption Eradication Commission (KPK) acting spokesperson Ali Fikri said the antigraft body had offered help to the police track the flow of funds in the case. “We have communicated and coordinated with Bareskrim through our deputy [head] of prevention.”Topics : “We will proceed with our investigation related to the issuance of travel recommendation letters and […] the alleged flow of illicit funds [pertaining to his flight],” Bareskrim head Comr. Gen. Listry Sigit Prabowo said during a televised press briefing on Friday.Djoko escaped the country to Papua New Guinea in 2009, a day before the Supreme Court sentenced him to two years in prison and ordered him to pay more than Rp 546 billion (US$54 million) in restitution for his role in the Bank Bali corruption case.He managed to returned to Indonesia in early June to file a request for a review for his conviction. He reportedly filed the documents after obtaining a new electronic ID card and passport and having his Interpol red notice status lifted.Read also: Court drops fugitive Djoko Tjandra’s case review plea after consecutive no shows The National Police will investigate allegations that a flow of illicit funds allowed graft fugitive Djoko Soegiarto Tjandra to evade law enforcement for more than a decade.Police arrested Djoko in Malaysia on Thursday in what authorities called “a planned operation”. He had spent 11 years on the run.After being questioned at the headquarters of the National Police’s Criminal Investigation Unit (Bareskrim), Djoko was detained at a police facility in Salemba, Central Jakarta.
Pension liabilities at Switzerland’s listed companies are set to increase by 4% over the first quarter, as the continued drop in interest rates both in Switzerland and globally impacted funding, according to estimates by Towers Watson.The consultancy said the decline brought funding levels down to around 80% for companies in the Swiss Market Index (SMI), according to the latest Swiss pension risk study.At year-end 2014, funding levels still stood at 84% based on international accounting standards IFRS or US-GAAP, as liabilities increased by 18% over the course of the calendar year.Bond yields in Switzerland dropped by around 23 basis points over the first quarter of 2015, while some 10-year bonds from the euro-zone, the US and UK yielded up to 35 basis points less. Overall, Towers Watson estimated a 25 basis point drop in bond yields in the pension plans, with an average duration of 15 years.“The continued drop in interest rates increases the incentives for companies to de-risk their pension plans,” the consultancy noted in a press release.It added the application of IAS19 led to a higher volatility in companies’ accounts compared to the previous year, which could be decreased by taking less risk in the asset allocation.Last year the average discount rate applied to SMI pension plans stood between 1.9% and 2.2%, according to Towers Watson.As per year-end 2014, the companies with the highest funding level were Credit Suisse (101.6%), Swiss Re (97%) and UBS (95.8%).
The €3.1bn pension fund of Dutch insurer Delta Lloyd has significantly decreased its strategic allocation to government paper and bonds of semi-government organisations in favour of covered bonds and credit.In its annual report for 2016, it said it had reduced its bond holdings from 70% to 50% of its matching portfolio, which comprises approximately 90% of its entire assets.Government bonds and semi-government paper generated combined returns of 8.3%, but the pension fund said it expected that covered bonds and credit would yield better returns combined with a limited credit risk.It raised the allocation of both favoured asset classes from 15% to 25% of its liabilities portfolio. The matching portfolio – comprising allocations to fixed income funds run by Delta Lloyd Asset Management, as well as interest swaps – returned a net result of 11.3%, an outperformance of 2.4 percentage points against its benchmark.The scheme’s return portfolio, with the remaining assets in equity and property funds, delivered 7.7%, falling 1.6 percentage points short of its benchmark.The Delta Lloyd Pensioenfonds attributed the disappointing result largely to the Delta Lloyd Asset Management’s Blue Return and European Participation funds, which had “significantly underperformed”.The scheme said that equity – spread over emerging markets, worldwide equity and value stocks – had produced 7.5%, while real estate gained 9.7%.It also indicated that, following an asset-liability management study, it had decided to increase the equity stake to at least 20% of its entire portfolio.The pension fund returned 10.4% from its entire portfolio last year.The Delta Lloyd pension fund also stated its intention to continue independently for the time being. Its sponsoring company was recently taken over by NN Group.“With an coverage ratio of 127.3% at June-end, we are in good financial shape, and therefore there is no reason to change things for the moment,” said Theo Krekel, the scheme’s director.He said the board was still assessing the possible effects of the takeover. The scheme’s five-year contract for administration with Delta Lloyd Life Insurance concluded last year, while its existing contract for pensions provision with the sponsor expires in 2020.The Delta Lloyd scheme closed the year with a funding ratio of 124%, which was more than sufficient for a full indexation of 1% for workers who follow the salary index, and 0.32%, drawn on the consumer index, for deferred members and pensioners.Last year, the pension fund spent 11 basis points on asset management and 1 basis point on transactions.It explained that it is solely invested in funds, some of them actively managed, and that it had hardly concluded any transactions.The scheme has 3,895 active participants, 5,965 deferred members and 3,495 pensioners.
France’s Fonds de Réserve pour les Retraites (FRR) and three insurers are joining a UN-convened group of asset owners pushing for investment portfolios to be carbon neutral by 2050.With FRR, Axa, Aviva, and CNP Assurances, the Net Zero Asset Owner Alliance, which was launched in September at a UN climate summit, will count 16 members.Eric Usher, head of the UNEP Finance Initiative, said: “The addition of four significant asset owners signals growing commitment by investors to align their portfolios with the ambitious 1.5°C target that goes beyond even the level of ambition reflected in the Paris Agreement.“Concerted investor action led by the Alliance signals to financial markets that making entire portfolios net zero carbon is now clearly on the agenda.” Yves Chevalier, executive director at FRR, said the Net Zero Asset Owner Alliance was aligned with its recently updated responsible investment strategy , which “ushers in a new phase that will drive ambition further by increasing accountability at all portfolio levels and involving the entire financial management ecosystem to underline the leadership role assumed by the FRR over many years”.Axa’s joining the alliance forms part of a new phase in its climate strategy. Unveiled this week, it includes the insurer doubling its target for environmentally-friendly investments to €24bn by 2023, and investing in transition bonds, a new asset class it conceptionalised to support companies shifting towards less carbon-intensive business models – as opposed to green bonds, which Axa said are designed to finance projects that are already “green”.Axa also said it would be completely exiting the coal industry by 2030 in OECD and EU countries, then in the rest of the world by 2040.Members of the Net-Zero Asset Owner Alliance commit to transitioning their investments to net-zero greenhouse gas emissions by 2050 “in support of a global economy that delivers emissions reductions in line with scientifically determined targets”.They are to ramp up engagement with investee companies and convenors of the alliance also said it will “use its powerful voice to engage with governments and ask them to urgently increase their Nationally Determined Contributions ambitions”.Nationally Determined Contributions are the post-2020 actions that countries signed up to the Paris Agreement commit to outlining and communicating.Citing an Emission Gap report published by the UN Environment Programme this week, the convenors of the Net Zero Asset Owner Alliance said G20 nations collectively account for 78% of all emissions, but seven of them do not yet have policies in place to achieve their current NDCs, “let alone strategies for transformative climate commitments at the breadth and scale necessary”.
Shaun and Stephanie Noffke are saving for a deposit for their first house. Photo: Steve Pohlner.HOUSING affordability in Brisbane has peaked, but there are still more areas where it is cheaper to buy than rent a home than in any other capital city in the nation.A new report by ANZ and property analyst CoreLogic reveals household incomes have risen faster than home values in the Queensland capital over the past decade, making it easier to get into the housing market.Over the past 10 years, Brisbane’s median home value has risen by 1.6 per cent per year, while household incomes increased by 2.5 per cent per annum. RELATED: Growth star suburbs revealed The suburbs of Paddington and Petrie Terrace are seen with the Brisbane CBD skyline in the background. Image: AAP/Darren England.And the amount of household income required to service a new mortgage in Brisbane has not been this low since 2003. According to the report, it is cheaper to buy than rent a home in nine locations — Springwood-Kingston, Inner Ipswich, Ipswich Hinterland, Beenleigh, Beaudesert, Browns Plains, Forest Lake-Oxley, Loganlea-Carbrook and Springfield-Redbank. Darwin and Hobart both had three suburbs where it was cheaper to buy than rent, while Perth and Adelaide had two, Canberra and Melbourne had one and Sydney had zero.ANZ senior economist Felicity Emmett said the fact Brisbane had the highest number of areas where it was cheaper to buy than rent suggested it could attract more potential home buyers to Queensland.“That does suggest that for aspirational buyers, Brisbane should be quite desirable, and it probably underlines the fact we are seeing quite strong interstate migration into Queensland,” Ms Emmett said. ANZ senior economist Felicity Emmett.She said there seemed to be a consistent pattern across all capital cities that it was still “much more affordable” in the outer rings. “The areas most affordable in Brisbane are Springfield and Ipswich, compared to unaffordable areas like Indooroopilly and Mount Gravatt,” Ms Emmett said.“It clearly reflects the fact there are more services and infrastructure in those inner areas, so it does make it slightly more difficult to get into those suburbs.“The most expensive area (in greater Brisbane) is Bribie-Beachmere, so clearly coastal areas continue to generate a premium in terms of prices.“I think the gap between the inner and outer ring highlights that there is a role for government and a role for better infrastructure, which would help make some of those areas that are quite affordable more accessible for workers.”But it appears the affordability party could be over for house hunters.Housing is becoming less affordable across all capital cities, except Perth and Darwin, according to CoreLogic. Apartment buildings are seen in the Brisbane suburb of South Brisbane. Image: AAP/Darren England.In the three months to the end of October, home values in Brisbane rose 1.1 per cent — a significant turnaround from the first half of the year when they were in decline.In fact, home values are correcting so quickly that CoreLogic predicts Brisbane is on track to fully recover by March 2019 — the second strongest capital city market set to bounce back after Melbourne. RELATED: Shock numbers point to new property boom CoreLogic research director Tim Lawless said Brisbane had suffered a mild correction in comparison to some other capital cities, so that it put it on track for a faster recovery.“Brisbane is showing the next fastest recovery time frame (after Melbourne); not because values are rising rapidly, but mostly because the correction in values across Brisbane was quite shallow (down 2.9 per cent from peak to trough),” Mr Lawless said. CoreLogic research director Tim Lawless.Mr Lawless said market conditions had “fundamentally shifted” in the second half of this year, which would impact affordability going forward.“While household incomes are likely to have nudged higher, dwelling values are once again rising at a faster pace than incomes across many regions of the country,” Mr Lawless said. “As our affordability measures are updated to reflect conditions post June 2019, we expect to see housing affordability once again becoming more challenging for Australians who don’t own a home.”Ms Emmett agreed.“It looks as though we’ve seen the peak in affordability for most capital cities — certainly Sydney, Melbourne and Brisbane,” she said. “As we look further out, we’re likely to see an increase in prices given the combination of lower interest rates, better access to credit and more certainty around taxation arrangements for investor housing.“It just highlights the challenges policy makers are facing in trying to address some of these issues.” Housing affordability has reached its peak in all capital cities, except Perth and Darwin, according to CoreLogic. Photo: Brett Wortman/Sunshine Coast Daily.Shaun and Steph Noffke have been saving a deposit to buy a house in Brisbane for the past 10 years and have been in the market for the past two years.Shaun, a building designer, and Steph, an interior designer, would like to buy in Holland Park in Brisbane’s south, but have already had eight serious attempts at securing a contract dashed.“Most of the time we’ve been basically outbid by investors,” Mrs Noffke said. “It’s a good area so obviously lots of people are wanting to get in there.” This house at 18 Curlewis St, Holland Park West, is for sale for offers over $1.225m.They have had to increase their deposit by $50,000 to realistically secure a property in their suburb of choice. “We started with low expectations originally,” Mrs Noffke said.“However, we are being careful with our money as most of the houses in that area are older and need serious renovation.” The home value to income ratio in Holland Park is 6.5 and 34.8 per cent of household income is required to service a mortgage, according to the ANZ/CoreLogic report.WHERE IT IS CHEAPER TO BUY THAN RENT IN BRISBANE Region % income to pay mortgage % income to pay rent1. Springwood-Kingston 24.6% 27.7%2. Ipswich Hinterland 25.8% 27.7%3. Beenleigh 28.9% 30.7%4. Beaudesert 31.1% 32.4%5. Browns Plains 25.8% 26.4%6. Forest Lake-Oxley 28.1% 28.8%7. Loganlea-Carbrook 26.5% 26.9% 8. Ipswich Inner 23.9% 24.3%9. Springfield-Redbank 22.6% 22.8%More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours ago(Source: The November 2019 ANZ-CoreLogic Housing Affordability Report) This property at 10 Park Court, Springwood, is scheduled for auction later this month. GREATER BRISBANE’S TOP 5 MOST AFFORDABLE AREAS Region Home price to Yrs to save a % of household % of household income ratio 20% deposit income required to income required service 80% LVR to rent a home mortgage 1. Springfield-Redbank 4.3 5.7 22.6% 22.8%2. Ipswich Inner 4.5 6.0 23.9% 24.3%3. Springwood-Kingston 4.6 6.2 24.6% 27.7%4. Browns Plains 4.9 6.5 25.8% 26.4%5. Ipswich Hinterland 4.9 6.5 25.8% 27.7% (Source: The November 2019 ANZ-CoreLogic Housing Affordability Report) This three-bedroom cottage at 28 Brisbane Rd, Redbank, is scheduled for auction in November.GREATER BRISBANE’S TOP 5 LEAST AFFORDABLE AREASRegion Home price to Yrs to save a % of household % of household income ratio 20% deposit income required to income required service 80% LVR to rent a home mortgage 1. Bribie-Beachmere 8.1 10.8 43.2% 41.8% 2. Sunnybank 7.7 10.3 41% 30.5%3. Sherwood-Indooroopilly 7.2 9.6 38.4% 28%4. Mt Gravatt 7.1 9.5 37.8% 28.9% 5. Redcliffe 6.9 9.2 36.7% 33.1%(Source: The November 2019 ANZ-CoreLogic Housing Affordability Report) This four-bedroom house at 4 Lalroy St, Beachmere, is on the market for offers over $289,000.
MassLive 17 October 2017Family First Comment: Still want to soften the laws on marijuana? Of course not. Just look at the social experiment in US gone wrong.“Massachusetts voters’ 2016 Election vote to legalize marijuana for people over 21 likely contributed to the survey’s result showing fewer teenagers perceiving the drug to be a serious risk. Additionally, fewer of the surveyed teens felt their parents strongly opposed the drug, either…. studies of youthful marijuana users indicates the younger one begins regularly using the drug, the higher the likelihood of later struggles with addiction and anxiety and depression disorders.”Marijuana and e-cigarette usage among some Western Massachusetts teenagers appear to be on the up while fewer smoke tobacco, drink alcohol and use other drugs, according to a recent survey.About 31 percent of 16- to 18-year-olds surveyed reported using marijuana in the past month, up four percent over 2016, the 2017 Massachusetts Prevention Needs Assessment Survey says.The survey also showed kids, for the first time ever, reporting being exposed to marijuana advertising, and trying other forms of marijuana consumption, such as edibles, dabs and vapor pens.Meanwhile, the survey reported a modest dip of several percentage points in the use of alcohol among the same age groups.In 2017, 28 and 48 percent of surveyed 16- and 18-year-olds, respectively, reported using alcohol in the past 30 days, versus 31.5 and 50.5 in 2015 and 35 and 51.3 in 2013.The percentages using other drugs such as amphetamines, cocaine, sedatives, tranquilizers and other narcotics — always in the low single-digits in previous surveys — also fell across the board in the 2017 survey.Massachusetts voters’ 2016 Election vote to legalize marijuana for people over 21 likely contributed to the survey’s result showing fewer teenagers perceiving the drug to be a serious risk. Additionally, fewer of the surveyed teens felt their parents strongly opposed the drug, either.READ MORE: http://www.masslive.com/news/index.ssf/2017/10/survey_hampshire_county_teens.html
LYONS, Ohio – Dominator Race Products gives awards to drivers in six IMCA divisions this season, its 10th as a sponsor for the sanctioning body.The Lyons, Ohio, manufacturer gives product certificate awards for the first time, with $100 going to ninth and 10th place finishers in each of the five regions for IMCA Modifieds and to sixth through 15th place finishing drivers in point standings for the Deery Brothers Summer Series for IMCA Late Models.Ninth and 10th place drivers in national standings for Karl Chevrolet Northern SportMods and Smiley’s Racing Products Southern SportMods also receive $100 product certificates. Dominator gives $50 certificates to 11th and 12th place drivers in both regions for IMCA Sunoco Stock Cars and IMCA Sunoco Hobby Stocks.“In offering a certificate, this allows racers to choose from many of our different products that we offer such as fan shrouds, body bolt kits, wheel covers and the DOM-409 Modified valance,” said Bentley Shaw. “Dominator is looking forward to continuing our sponsorship program with IMCA.”Dominator certificates will be presented during the national awards banquet in November or mailed beginning the following week from the IMCA home office.“We adjusted the Dominator Race Products program slightly this year to allow for more flexibility for our racers,” noted IMCA Marketing Director Kevin Yoder. “They make a variety of great products for the IMCA racer and this allows the driver to select something that will improve their race program.”Information about Dominator products is available at the www.dominatorraceproducts.com website, by calling 419 923-6970 and on Facebook.
RelatedPosts Sevilla claim sixth Europa League title Inter Milan beat Shakhtar to reach Europa League final UEL: Lukaku, Eriksen take Inter Milan past Getafe into last eight Romelu Lukaku scored his 25th goal of the season as Inter Milan drew with Sassuolo in a six-goal thriller.Francesco Caputo slotted mid-table Sassuolo ahead, and Lukaku equalised with a penalty. Alexis Sanchez set up Cristiano Biraghi to give Inter the lead but then substitute Ashley Young conceded a penalty which Domenico Berardi scored.Borja Valero and Sassuolo’s Giangiacomo Magnani scored late tap-ins before Inter had Milan Skriniar sent off.Inter’s Roberto Gagliardini hit the crossbar from close range and former Manchester United and Everton striker Lukaku also had a goal disallowed for offside in an entertaining match.Six former Premier League players featured for Antonio Conte’s Inter during the game.Their slim title hopes are probably now over, sitting eight points behind leaders Juventus in third. —Tags: Borja ValeroFrancesco CaputoRomelu LukakuSassuolo
Bruce did his best to steer clear of the controversy during the early part of the Barclays Premier League season but admitted after Sunday’s 3-1 win over Liverpool that he would seek talks with Allam to try and ease tensions. Returning to the topic ahead of Wednesday’s visit to table-topping Arsenal, Bruce reiterated the need for a solution but attempted to paint a more sympathetic picture of his boss than Allam’s own comments might have inspired. “We can’t let it be a distraction and to be fair I’m fed up talking about it already; I think that goes for most of us,” said Bruce. “The only thing I would say in defence of the chairman is some people don’t realise he’s pumped millions into a hospital here (in Hull) for cancer research. He’s also paid £600,000 to buy a scanning machine for that hospital. “He’s only got the best interests of the club at heart. I have to tell that to all the supporters. “It’s not a situation where he’s come from afar just to buy a Premier League club – he’s been here for 45 years. “He’s helped rugby teams, he’s helped North Ferriby United…the amount of work he’s done for the community is remarkable. “I think he bought Hull City because he didn’t want Hull without a football team. “It’s a shame to be talking about these things because all the good work he has done is being soured by this name change. “But there has to be a resolution and a way forward from it because it can only escalate and get worse.” That Bruce was forced once again to turn his attentions to the off-field unrest must have been a significant frustration after seeing off high-flying Liverpool. A similar result at the Emirates, while even tougher to achieve, would surely be impossible to bump down the agenda but Bruce is under no illusions about the challenge that awaits his squad. “Absolutely they can win the league,” he said of the table-topping Gunners. “We’re a third of the way through so why can’t they? They’ll be like anybody else, hoping their big players stay fit, but when you look at their squad they’re a match for anybody. “The problem with Arsenal is how do you set up against them? They’re fluid in their movement and their interplay. They interchange positions…where does Jack Wilshere play? Where does Mesut Ozil play? “There’s a freedom that makes it very, very difficult. “Mr Wenger, who I’ve got the hugest respect for, has produced another fantastic football team who are going to be there or thereabouts and in (Aaron) Ramsey they’ve got the outstanding player in the Premier League.” Reminded that Hull memorably upset Arsenal on their own patch in their maiden Premier League season – when goals from Geovanni and Daniel Cousin secured a 2-1 win – Bruce added: “I remember it vividly, let’s hope we can repeat that.” Hull manager Steve Bruce offered a stirring defence of owner Assem Allam but remains desperate for the unseemly row over the club’s name to go away. Allam has provoked fury among supporters with his proposals to rebrand the side as Hull Tigers, a move that would see the 109-year-old name of Hull City AFC abandoned. The Egyptian businessman has hardly helped his cause with some unguarded public pronouncements, culminating with his suggestion that those who have taken to chanting ‘City Till We Die’ could “die as soon as they want”. Press Association
A verdict is on some of the counts in the sexual assault trial of former movie producer Harvey Weinstein.Weinstein is accused of sexual assaulting two women. He was found not guilty on two counts of predatory sexual assault and rape in the first degree. He has claimed the encounters were consensual.Harvey Weinstein found guilty on two charges, acquitted on others, in the disgraced movie producer’s New York sexual assault case https://t.co/NdP9T5KD6r— The Washington Post (@washingtonpost) February 24, 2020