Iceland further relaxes capital controls for pension funds

first_imgIcelandic pension funds will be able to invest ISK20bn (€141m) overseas over the first four months of 2016, after the country’s central bank further relaxed strict capital controls in place since 2008.The bank said the exemption, which applies to second and third-pillar funds, would be allocated to schemes based on their overall size and contribution levels as of the end of 2014.The bank added that the exemption would benefit the local economy, as it allowed the ISK2.9trn pension sector to diversify holdings, reducing the risk of instability when capital controls are completely lifted. A pension fund’s size will be given a weighting of 80%, while annual inflows will be given a weighting of 20% when deciding how much of the quota to allocate to individual funds. The split marks a slight change from the first ISK10bn exemption granted in July last year, when it was 70% in favour of total fund size.Gunnar Baldvinsson, managing director of €1.2bn pension fund Almenni, said the announcement pointed towards an improving Icelandic economy.“Foreign currency inflows in 2015 and a reduced uncertainty about the balance of payments following creditors’ approval of compensation proposals from the failed banks’ estates have created the scope to authorise pension funds to invest further in foreign-denominated financial instruments,” he said.LBI, the group managing the estate of Landesbanki following its collapse during the financial crisis, said this week it had settled all remaining accepted claims against the estate.Baldvinsson said he understood the central bank would be lifting investment restrictions “gradually”.“On the other hand,” he added, “we expect the [central bank’s] announcement to be the first of many to allow pension funds and other local investors to invest abroad for this year and the coming years, given that the current economic situation will not deteriorate significantly.”The Icelandic pension sector has been limited to investing in the domestic economy since the introduction of capital controls, put in place in the wake of the 2008 banking collapse.While domestic investment opportunities are available, such as last year’s financing of a silicon metal plant in the country’s North, pension investors have previously lamented the increased risk caused by such a geographically concentrated portfolio – with pension assets standing at 146% of Icelandic GDP, according to the OECD.The funds have channelled inflows into the mandatory system towards private equity and real estate but were also able to gain exposure to overseas currency through domestic bond issuances denominated in other currencies.last_img read more

BCSC, Ziemke blaze new trails in education

first_imgBaresville, In. — The Batesville Community School Corporation has been credited as the model for a bill that would create collaborative relationships that meet the needs of all students, a growth mindset set around silos of scalable excellence so all Hoosier students can find pathways of success.The program is referred to as the Coalition of Continuous Improvement School Districts. In other words, make a variety of options available to meet the needs of traditional and non-traditional students by leveraging resources and expertise in the community.However, traditional evaluation standards have to be adjusted to accommodate the needs of all students. Lawmakers, including Batesville Republican Cindy Ziemke have proposed House Bill 1398 to change regulations so the program will be certified.Students also have access to the Transfer General Education Core. The program allows students to enter college as a sophomore by completing basic required college curriculum and saving tuition costs.last_img read more

FL Legislature Passes Bill to Help Opioid Lawsuits

first_imgThe bill, if it passes, would allow Moody to track opioid sales. She would be able to see the cities, counties and zip codes where the drugs are sold, as well as the patient’s birth year. However, patient information will be protected. A bill to help Florida Attorney General Ashley Moody sue drug manufacturers and pharmacies is on its way to Governor DeSantis’ desk.The state’s Senate unanimously passed a bill on Friday giving Moody access to information in Florida’s prescription drug data base to help build her case against opioid manufacturers and pharmacies that the state believes oversold pain pills and did not prevent illegal sales.TY Sen. Pres. @BillGalvano, House Speaker @RepJoseOliva, @ChrisSprowls, @AmberMariano, @TomLeeFL and every member of the Fla. Legislature for voting unanimously for HB 1253. This bill will strengthen our efforts to hold those responsible for fueling the opioid crisis accountable. pic.twitter.com/jbWbS4hNyR— Fla. AG Ashley Moody (@AGAshleyMoody) May 3, 2019last_img read more

NBA free agency rumors: Nikola Vucevic will commit to a 4-year, $100M deal with Magic

first_img Kevin Durant free agency rumors: Nets no longer front-runners for Warriors star Orlando made a big stride to secure its big man.According to a report from The Athletic, the Magic put together a four-year deal that will exceed $100 million and that was good enough for Nikola Vucevic. The Orlando Magic are preparing a four-year offer believed to be in excess of $90 million to their All-Star center Nikola Vucevic in hopes of completing a deal shortly after Sunday’s opening bell in free agency, league sources say— Marc Stein (@TheSteinLine) June 28, 2019According to an earlier report from The Dallas Morning News, Vucevic was eyeing $25 million per year, which is what he’ll get with the team’s newest terms.”Last, but not least, is the question of All-Star center Vucevic, who has long been reported, including by The News, as a likely Mavericks free-agent target. Sources, however, now tell The News that while the Mavericks see Vucevic as a viable fit alongside Kristaps Porzingis, Vucevic is seeking a starting salary of $25 million and thus is out of Dallas’ price range. And there is little-to-no chance of Vucevic falling into the Mavericks’ comfort-level price because his current team, Orlando, wants to keep him and because he has other suitors, particularly Sacramento and Boston.”Vucevic wrapped up his seventh season with the Magic and is coming off a career year where he averaged personal bests in points (20.8) and rebounds (12). Related News Celtics’ problems extend beyond Kyrie Irving, report says Klay Thompson free agency rumors: Warriors, star agree to 5-year, $190M max contract He is planning on committing to the offer when free agency begins 6 p.m. ET Sunday. Orlando free agent All-Star Nikola Vucevic plans to commit to a four-year, $100 million deal to return to the Magic, league sources tell @TheAthleticNBA @Stadium.— Shams Charania (@ShamsCharania) June 30, 2019A previous report hinted that the deal would exceed $90 million, which would have been under the amount the All-Star was hoping for.last_img read more

Toronto Maple Leafs name John Tavares 25th captain

first_imgThe three-season wait is over. Toronto Maple Leafs center John Tavares is the team’s new captain.MORE:  NHL predictions 2019-20: Final standings, playoff projections, Stanley Cup picks The last captain in Leafs history before Tavares was defenseman Dion Phaneuf from 2010-16. Defenseman Morgan Rielly will serve as an alternate captain for the season while forwards Auston Matthews and Mitch Marner alternate wearing the other ‘A’ on their jerseys throughout the year.Toronto Maple Leafs captains throughout team historyYEARSCAPTAIN2019-John Tavares2010-16Dion Phaneuf1997-08Mats Sundin*1994-97Doug Gilmour*1991-94Wendel Clark1989-91Rob Ramage1981-86Rick Vaive1975-81Darryl Sittler*1969-75Dave Keon*1957-69George Armstrong*1956-57Ted Kennedy*1956-57Jimmy Thomson1955-56Sid Smith1948-55Ted Kennedy*1945-48Syl Apps*1943-45Bob Davidson1940-43Syl Apps*1938-40Red Horner*1937-38Charlie Conacher*1927-37Hap Day*1926-27Bert Corbeau1925-26Babe Dye1924-25John Ross Roach1922-24Jack Adams1920-22Reg Noble1919-20Frank Heffernan1917-19Ken Randall*Hall of Fame Prior to puck drop on the 2019-20 NHL season Wednesday night, the Leafs revealed the Oakville, Ont., native as the 25th captain in franchise history. Tavares was the last player introduced, sporting the “C” on his jersey, before the team’s season-opening game against the Ottawa Senators at Scotiabank Arena.OFFICIAL: John Tavares has been named the Captain of the @MapleLeafs . pic.twitter.com/U3Ki8zFvvT— NHL on NBC (@NHLonNBCSports) October 2, 2019The team utilized Tavares’ wife Aryne, and newborn son, Jace, to deliver the good news: he was greeted by his son wearing his jersey when Toronto’s front office and coaching staff told him he would be named captain.”It’s a real honour. I won’t ever take it for granted.” #LeafsForeverThe Leaf: Blueprint Moment presented by @Molson_Canadian. pic.twitter.com/6eyYUXQhvg— Toronto Maple Leafs (@MapleLeafs) October 2, 2019″That’s a hell of a surprise,” Tavares said as Leafs general manager Kyle Dubas brought him into a room with coach Mike Babcock and team president Brendan Shanahan. He greeted his son with a kiss, saying “[The jersey] looks good on you, bud.””We don’t expect anything from you other than you just continue to be who you’ve been,” Dubas told Tavares. “It’s been a lot of discussion and it’s because of who you are and how you do things every single day, yourself and Morgan [Rielly] and the rest of the group and how you conduct yourselves day in and day out. It’s what we want as a representation of our team every single day in here and to the public. We’re just fortunate we have some willing help to share the news with you.”Tavares, 29, had the best season of his career in 2018-19 (47 goals, 88 points), his first with the Maple Leafs. He played nine seasons for the New York Islanders and served as their captain for five seasons before signing with Toronto in July 2018.last_img read more

Two sentenced for making child porn

first_imgOfficials in Rigby, Idaho have sentenced two people to 15+ years in prison for making child porn with a 4-year-old.32-year-old Joseph Lavern Harris and 28-year-old Elizabeth Dawn Evans were sentenced Tuesday after officials discovered video and images during an investigation.It is unclear what led authorities to investigate the pair, however, it was reported that Harris appeared in the film with the child and that investigators discovered several sexually explicit images of the child on electronic devices that belonged to Evans.Officials also found a list of people that Harris desired to have sex with. The 4-year-old girl was number 5 on the list.During a police interview, Evans admitted that the list was his, but says that he wanted to engage in sexual acts with the child when she came of age.He also denied appearing in the video with the child but later admitted that he could tell it was him in the video due to his tattoo but says he was under the influence of narcotics and the time and does not remember the incident.Both have been sentenced for crimes related to owning and making child pornography. Harris was sentenced to 25 years, while Evans was sentenced to 15 years.They will both also be required to register as sex offenders.last_img read more

Thurston County Breaks Ground on 2018 Fish Passage Barrier Removal Projects

first_imgFacebook20Tweet0Pin0Submitted by Thurston County Board of CommissionersThurston County has pioneered a fish passage barrier removal program that has become a model across Washington. On Monday, July 16, 2018 the County broke ground on one of five fish passage barrier removal projects scheduled for completion at the end of this year.John Hutchings, Thurston County Commissioner District One, summed up the significance of the project, saying “This is for everyone, because everyone is impacted by this major effort of conservation.”Over the next several months, Thurston County Public Works will replace a culvert, located on Hunter Point Road near Steamboat Island, with a pre-fabricated bridge that will open the waterway and allow for the passage of salmon and other fish species.“It is absolutely marvolus to be here today and give back to mother nature,” said Bud Blake, Chair for the Board of County Commissioners. “Thurston County is the first county to proactively address fish passage barriers.”Thurston County has been working to develop a program to restore fish passage habitat since 2016, allocating $4 million from the Real Estate Excise Tax to begin the process. In March 2018 the Board approved work to begin on five fish passage barrier removal projects.Hunter Point is one of those five fish passage barrier removal projects slated for completion in 2018. Other approved projects include: installation of pre-fabricated bridges at Troy Drive SE and Flumerfelt Road SE; upgraded stream crossings with fish passable structures at 26th Avenue NE; and Waddell Creek Road SW at Pants Creek.Gary Edwards, Thurston County Commissioner District 2, spoke briefly about why the investment in fish passage barrier removal is so important. He invited a young woman who was at the groundbreaking ceremony with her baby to join the Commissioners.“This is who we’re doing this for; that is what our future is all about,” he said. “This youngster might only be representative of about 30% of our population, but is 100% of our future.”Also in atttendance at the groundbreaking were tribal leaders from the Squaxin Island Tribe. The County worked closely with the Tribe and other neighboring tribes in selecting the fish passage barrier projects to pursue in 2018.County Engineer Scott Lindblom mentioned the County met with resource agencies and members of the Squaxin, Chehalis, and Nisqually Tribes to gather their input on the proposed projects. Lindblom said, “Their feedback has been extremely valuable to us in selecting which projects to pursue in 2018.”Squaxin Island Tribal Council Chairman Arnold Cooper spoke about the Tribe’s partnership with the County and said, “Working together is the only way we can get stuff like this done. It’s a joint effort. It doesn’t matter who you are or where you’re from, these projects benefit everyone… because the importance of salmon is critical for everyone. We’re helping generations down the road.”Squaxin Island Tribal Council Vice-Chair Charlene Krise gave a blessing over the project before the groundbreaking.“We pray a blessing for all the workers who will work on this project, and we pray a blessing for all the salmon that will be running through these creeks in the future.”In addition to its partnerships with the tribes, Thurston County Public Works used a comprehensive prioritization process to help identify the fish passage barriers that would maximize return on investment for fish habitat.“There are many fish passage projects we would like to accomplish, but we have to be strategic in our approach with the funds allocated each year,” said Lindblom.Thurston County maintains nearly 3,000 culverts to prevent roadway and inland flooding. There are an estimated 336 fish barrier culverts based on existing culvert data and information from the Washington Department of Fish & Wildlife.You can find a short video of the ground breaking ceremony at https://youtu.be/3KCdFGd8GyA.last_img read more