Erick Thohir to shake up executives at state lenders

first_imgThe State-Owned Enterprises (SOEs) Ministry will shake up executives at three state-owned banking giants this week, Minister Erick Thohir said on Wednesday.Erick, however, brushed off concerns over the reasons for the management reshuffle beyond a regular refreshment of leaders in the nation’s top state banks. The three state lenders that are likely to see new faces in their boards of directors are Bank Mandiri, Bank Negara Indonesia (BNI) and Bank Rakyat Indonesia (BRI). “It’s normal as long as we can see someone who has great expertise,” Erick said in Jakarta during the launch of an SOEs internship program, denying the reshuffle was an “overhaul”. Bank Mandiri, BNI and BRI have all been scheduled to organize annual general shareholders meetings next week with agendas that include adjustments in corporate management, according to the banks’ disclosures made available to the Indonesia Stock Exchange (IDX).The management restructuring would be the latest in a series of state firm restructuring efforts to improve SOEs’ performances since Erick took the job in October last year.The businessman-turned-bureaucrat dismissed seven undersecretaries from their posts in November to make the ministry more efficient in accordance with President Joko “Jokowi” Widodo’s mission. The number of undersecretaries has also been reduced to three from the previous seven.”All SOEs are being ‘refreshed’. Certainly, such plans aim to strengthen them,” SOEs Ministry aide Arya Sinulingga told in Jakarta on Tuesday evening.As part of the wider government restructuring of SEOs, Deputy SOEs Minister Kartika “Tiko” Wirjoatmodjo said last Thursday that the ministry would close down or merge state-owned companies that have consistently failed to post profits.He said Minister Erick wanted to reduce the number of state-owned firms to 100 from 142 at present in order to improve efficiency.Topics :last_img read more

KPK urges ministries to improve social aid, wage subsidy recipient data validation

first_imgThe subsidy consists of Rp 600,000 in monthly assistance for four months for workers with a monthly salary of less than Rp 5 million who are registered with the Workers Social Security Agency (BPJS Ketenagakerjaan).Ida said that more than 4.8 million workers would receive the monthly subsidy from the first and second distribution phase, which is nearing completion, adding that it is currently validating the beneficiaries’ data for the third distribution wave with the BPJS Ketenagakerjaan.“We hope [the KPK] would help us with this program so that it would not miss its target. This program is meant to maintain and increase workers’ economic capabilities amid the COVID-19 [pandemic],” Ida said.KPK commissioner Alexander Marwata said that the ministry also needed to improve beneficiaries’ data validation for the program, such as by cross-checking BPJS Ketenagakerjaan data with tax records to make sure the workers really earned less than Rp 5 million a month.Furthermore, amid many forms of social aid being distributed, Alexander warned the government to prevent overlapping assistance that could cause some people to receive more than others.“This is again a matter of data, keep updating who is entitled to the assistance and who is affected worst [by the pandemic],” he said. Topics : “Data validation is indeed the key to prevent or minimize complaints like that,” Lili during a press conference on Wednesday, adding that the government needs to increase education on social aid to prevent confusion among the public.Juliari said that the complaints related to social aid distribution would be verified by the KPK and followed up by the respective regional administrations, which also had the authority to update social aid beneficiaries’ data.The Social Affairs Ministry was tasked with distributing around Rp 127 trillion of the governemnt’s Rp 203 trillion COVID-19 relief budget through several social assistance programs such as the Family Hope Card (PKH) and staple food distribution.On the same day, KPK leaders also met with Manpower Minister Ida Fauziyah, where the latter gave an update regarding the ministry’s wage subsidy program.  The Corruption Eradication Commission (KPK) has urged the Social Affairs Ministry and Manpower Ministry to improve data validation for recipients of government social aid and wage subsidies.After a meeting with Social Affairs Minister Juliari Batubara on Wednesday, KPK commissioner Lili Pantauli Siregar said that improving recipients’ data validation process was important as the antigraft agency had received 1,074 complaints related to social aid distribution as of Sept. 4.Out of the complaints that were received through KPK’s digital platform JAGA Bansos, Lili said that 500 came from people that did not receive social aid, even though they were registered as beneficiaries.last_img read more

Martin Keown hails Arsenal star Gabriel Martinelli and slams ‘lucky’ Freddie Ljungberg

first_imgSaka rescued a draw for Arsenal (Picture: Getty)‘As a young coach I wouldn’t have even bothered going to a back three. I wouldn’t have been certain I understood it well enough.‘I would have picked the same players to say “when you work with me you work hard, you’re not staying back home relaxing, this is now about work ethic”. There needs to be a change in mood.‘That’s gone from Freddie, he’s limped through tonight. You can’t turn a tap on and off so quickly. But they’re going to be seeded, so that’s really good news.’MORE: Napoli to submit £21m transfer offer for Lucas Torreira if Arsenal reject loan dealMORE: Owen Hargreaves predicts Man Utd and Arsenal will not finish in the Premier League top four Martinelli’s introduction from the bench changed things for Arsenal (Picture: Getty)‘And while Freddie is in charge, he should be implementing that change at Arsenal.’Ljungberg fielded a young side, making nine changes from the side that beat West Ham at the start of the week.The interim coach also reverted to a back three against Standard and Keown was bemused by Ljungberg’s decision-making.‘I was so disappointed with the lack of desire and hunger from the team. Keep it simple,’ he said. Advertisement Advertisement Ljungberg made nine changes for the game against Standard (Picture: Reuters)Martin Keown blasted ‘lucky’ Freddie Ljungberg and hailed Gabriel Martinelli as a true leader for Arsenal following their 2-2 draw with Standard Liege in the Europa League.Arsenal qualified for the last-32 of the competition thanks to the draw, but were losing the game 2-0 before Martinelli entered the fray in the 69th minute.Martinelli, who scored on his full Premier League debut on Monday, sparked a fight-back from Arsenal and set up Bukayo Saka to score the equaliser.Keown was dismayed by Arsenal’s desire in the game and slammed Ljungberg for making so many changes.ADVERTISEMENTHe’s made one, and now he’s scored one! 🔥Bukayo Saka with a lovely one-two before placing it into the bottom corner 👌Lovely finish from the youngster…— Football on BT Sport (@btsportfootball) December 12, 2019 Martin Keown hails Arsenal star Gabriel Martinelli and slams ‘lucky’ Freddie Ljungberg Metro Sport ReporterThursday 12 Dec 2019 8:36 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link289Shares Comment ‘One thing you need when you’re a manager is luck and Freddie Ljungberg was very lucky tonight,’ Keown said on BT Sport.AdvertisementAdvertisement‘The game changed when Martinelli came off the bench tonight. 69th minute, a young player, a desire and a work-rate you’d except from the senior players.’‘I didn’t see a role model in that team. He came on and changed it,’ he continued.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘The older players were a long time getting to that level for Arsenal.‘I think Freddie Ljungberg should have kept it simple. He should have played a back four, pretty much the same team he played the other night.‘There was too many changes. We need to get back the desire and hunger from the players.last_img read more

Developer fills in the gaps

first_imgBuyers will have the choice of a number of house designs at Lexington Albany Creek More from newsParks and wildlife the new lust-haves post coronavirus21 hours agoNoosa’s best beachfront penthouse is about to hit the market21 hours agoIts debut comes after the launch of two other Ausbuild sites – Harrington and Hampton Rise at Bridgman Downs.“There is a segment of the market who are actively seeking these infill boutique developments,” Ausbuild joint managing director Matthew Bell said.“Last year we embarked on a high-end boutique project at Gumdale, in Brisbane’s southeast, called Enclave. There were only 40 lots in the development but it was a beautiful, leafy spot in an established prestige area and we knew it would sell well.“However, when we went to market, we were blown away when just under half sold in the first two weeks. It showed there was a very distinct market for boutique communities that were done well.”Lexington Estate on Greensill Rd is situated in a natural green setting close to established amenities.Mr Bell said the estate’s proximity to the Chermside retail and transport hub was also an attractive quality for buyers.The lots at Lexington are between 260sq m to 434sq m, and have been packaged with brand new designs from the company’s Refined Living range.With house and land packages available from $464,200, and the extension of the $20,000 First Home Owners Grant until June 30, Mr Bell predicted strong early sales.Land prices within the estate start from $269,000. An aerial of Lexington Albany Creek (bottom centre)Queensland builder Ausbuild has turned its sights towards ‘infill development’ opportunities across the southeast, with buyers seeking out intimate housing estates.The company’s latest venture is the 40-homesite Lexington Estate at Albany Creek, which was recently launched.last_img read more

Ambachtsheer sets out path to new Dutch pension system

first_imgKeith AmbachtsheerI understand you have been handed the challenging task of solving your country’s current pension puzzle. It may interest you to know I was given the same task by the Koninklijke Vereeniging voor de Staathuishoudkunde in 2014. The resulting paper was titled Taking the Dutch Pension System to the Next Level: A View from the Outside, and presented in Amsterdam in December 2014. I thought you might appreciate a brief summary of my recommendations.Explaining why there is a Dutch pension puzzle is not difficult. The emphasis in your very large pillar 2 (i.e. workplace-based) pension sector on solvency has had a counterproductive effect on plan participants: less rather than more trust in the pension system. Why? Because young workers believe they are overpaying in relation to the future benefits they are accruing. At the same time, recent asset shortfalls uncovered by complex balance sheet solvency calculations have led to actual cuts in pension payments to retirees. So ironically, current measures to ensure the long-term solvency of your pillar 2 pension schemes are causing both the young and the old to lose faith that the system operates in their interest. In terms of that famous Dutch concept of ‘solidarity’, measures intended to increase it are actually having the opposite effect.     So how to solve this problem? A good first step is to recall Albert Einstein’s dictum: “Make things as simple as possible, but no simpler.” If people are going to trust a pension system, they must understand it. For many Nederlanders, their workplace pension schemes don’t pass the Einstein test: they have become far more complex than they need to be. A good second step is to recall why Dutch academic Jan Tinbergen was the first recipient of the Nobel Prize in Economics in 1969. He showed that the number of economic goals must be matched by the number of economic instruments designed to achieve them. In pension economics, there are two goals: (1) affordability and (2) safety. Achieving the first goal requires an investment instrument that generates high investment returns over the long-term (higher investment returns mean lower contribution rates). Achieving the second goal requires an instrument that matches projected pension payments with assets of similar duration and inflation sensitivity, while also pooling longevity risk. Jan Tinbergen, winner of the 1969 Nobel Prize for EconomicsSource: Anefo/Croes, R.C. This dual Tinbergen pension scheme structure solves the noted problems of the current Dutch unitary structure, which attempts to achieve both affordability and safety goals with just one instrument. The predictable result is collective schizophrenia, with both the young and the old unhappy. The cure is to adopt the dual Tinbergen structure, where separate instruments focus on long-term wealth-creation in one, and on delivering a lifetime pension in the other. The wealth-creation instrument is a collective investment fund that aspires to generate a competitive long-term rate of return net of all expenses. The safety instrument is a collective ‘fair value’ balance sheet that promises to pay a predictable lifetime stream of pension payments to participants. Over the course of their working lives, scheme participants begin by accumulating units in the wealth-creation instrument, and eventually shift these accumulations into the safety instrument as they approach retirement. This can be done automatically, or through participant intervention if they so choose.             While I believe the Tinbergen solution to the Dutch pension puzzle passes the ‘as simple as possible, but no simpler’ test, its implementation will require strong political leadership and a strong dose of national ‘solidarity’. Pension schemes will have to take three steps: (1) Establish operational wealth-creation and payment safety pools, (2) divide total scheme assets into individual member components, and split each member’s total component into allocations to the two pools based on a simple age-related formula, and (3) give participants the option to adjust those ‘default’ weightings to better reflect their personal preferences for wealth-creation and payment safety if they so choose.         Executing these 3-step processes will be challenging and time-consuming. However, the end-prize will be worth it: renewed national trust in the fairness and sustainability of the best pillar 2 pension system in the world.   Yours truly,Keith Ambachtsheer Here is the full English text of Keith Ambachtsheer’s letter to Wouter Koolmees, titled: A solution for the Netherlands pension puzzle.Dear Minister Koolmees,center_img Successful reform of the Netherlands’ pension system will require “strong political leadership and a strong dose of national solidarity”, according to influential pensions consultant Keith Ambachtsheer.In an open letter to the new Dutch social affairs minister Wouter Koolmees, first published in IPE’s sister publication Pensioen Pro, Ambachtsheer – who was born in Rotterdam before his family emigrated to Canada – explained how the principles of Dutch economist and Nobel Prize winner Jan Tinbergen could be adopted in an overhaul of the Dutch system.Redesigning the system was a major part of political party manifestos during this year’s election, and debate has continued throughout the industry as to how a new pensions contract for workplace benefits could be constructed.However, the timeline for the proposed reform has been pushed back and a number of the Netherlands’ biggest schemes have voiced concerns about some of the changes.last_img read more

Same-sex ‘marriage’ devastation spelt out

first_imgNZ Catholic Newspaper 5 October 2015Having same-sex marriage enshrined in law can have catastrophic consequences for the family as an institution, as well as for religious freedom.Leading American author and researcher on public policy on marriage, Ryan T. Anderson, gave this warning at the Family First Forum on August 24 at the Life Convention Centre in Auckland.Mr Anderson, who works at the Heritage Foundation in the United States wrote a book, The Future of Marriage and Religious Liberty, in response to the US Supreme Court’s June 2015 ruling on marriage.“The state is in the marriage business not because it’s a sacrament or a covenant or a religious institution. Not because it cares about consenting adult romance. The state is in marriage because the union of a man and a woman can produce a child, and those children deserve both a mum and a dad,” he said.The legalisation of same sex marriage, he said, will have at least four negative consequences, the first of which is that it makes mothers and fathers replaceable.“We now have no institution left in society that upholds the ideal that every child deserves both a mother and a father. In fact, saying that a child deserves a mum and a dad will increasingly be seen as bigotry,” he said.Second, he said, there will be no end to the redefinition of marriage. “The best way to illustrate this is to simply introduce you to three new words that activists and scholars in the US have developed to describe where they would see marriage next,” he said. read more

Aussie Open: Injured Federer saves seven match points in stunning comeback

first_img Loading… Roger Federer produced one of the most stunning fightbacks of his career as he booked his spot in the semi-finals, saving seven match points to beat Tennys Sandgren in five sets.Advertisement Federer, the 20-time Grand Slam champion from Switzerland, was forced off court for treatment midway through the third set, moments after failing to break Sandgren from 0-40 down – a game in which he was handed an audible obscenity code violation.When given his warning he confronted a line judge and umpire Marijana Veljovic, visibly aggravated.The true reason for the 38-year-old’s frustration soon became clear when he trudged off court for a medical timeout. When he returned, his movement was clearly inhibited as Sandgren raced into a 2-1 lead.Sandgren – the 28-year-old tennis player called Tennys from Tennessee – got tight as he approached the finish line, hitting three unforced errors as Federer saved three match points on serve at 5-4 in the fourth set.Four more came and went for Sandgren in the breaker – in which he bizarrely took a knee to his calf from a sprinting ball kid at a change of ends – and world No. 3 Federer recovered from 6-3 down to level the match.He required more treatment, this time on court, at the end of the fourth set with his upper right thigh seemingly the problem area. Promoted Content7 Of The Wealthiest Universities In The World6 Incredibly Strange Facts About Hurricanes10 Risky Jobs Some Women DoHere Are The Best Movies Since 1982 You Should Definitely SeeWhich Country Is The Most Romantic In The World?Best & Worst Celebrity Endorsed Games Ever MadePortuguese Street Artist Creates Hyper-Realistic 3D GraffitiThe Highest Paid Football Players In The WorldThe Very Last Bitcoin Will Be Mined Around 2140. Read More5 Of The World’s Most Unique Theme ParksA Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This DayWho Is The Most Powerful Woman On Earth?center_img Read Also:  Aussie Open: Nadal sacks emotional Kyrgios to hit  QuarterfinalsUltimately it was to be Federer’s day, as it has been on so many occasions in the past, and he avoided the worst defeat, by ranking, during his 20 years at the Australian Open.It was the latest Houdini act from Federer – who was down 8-4 in a fifth set tiebreak against John Millman in the third round – and he will face either seven-time champion Novak Djokovic or big-serving Canadian Milos Raonic in his 15th semi-final in Melbourne.FacebookTwitterWhatsAppEmail分享 It was far from vintage Federer. He required a great deal of help from his American opponent, whose nerves got the better of him whenever he came close to securing the win, but he showed remarkable grit and determination to hang in there before winning 6-3 2-6 2-6 7-6 (10-8) 6-3 in little over three-and-a-half hours – all while struggling with injury.last_img read more

NBA suspends season after Jazz player tests positive for coronavirus

first_img Loading… Utah Jazz center Rudy Gobert reportedly tested positive for coronavirus Upon learning the season was being suspended, Cuban immediately walked over to the bench to let the team officials know.“It is not about basketball and money. This is exploding to the point where I think about the families. We are making sure we are doing this the right way,” he said.“The idea that a couple of players have it… it is stunning.”Earlier NBA team owners and league officials had been wrestling with how to manage in the face of the outbreak, considering not only postponing games, but also playing in empty arenas.The Golden State Warriors had confirmed they would host the Brooklyn Nets on Thursday in San Francisco behind closed doors after San Francisco city officials announced a two-week ban on all gatherings of more than 1,000 people.The league-wide decision was made after the confusing scenes in Oklahoma City, where Jazz and Thunder players took the court to warm up, but shortly before the scheduled tip-off were sent to their locker rooms and police began to clear the Chesapeake Energy Arena.Fans were told only that the game was postponed due to “unforeseen circumstances” before they were herded out of the arena.Gobert’s teammate Emmanuel Mudiay was also listed as suffering from an undisclosed illness on the team’s injury report.– ‘Unprecedented’ –Six NBA games were scheduled for Wednesday. Four were underway when the game in Oklahoma City was called off, and a later game between the New Orleans Pelicans and Kings was also cancelled. The decision was made because one of the officials had worked a Utah game earlier in the week.“It’s unprecedented,” Detroit coach Dwayne Casey – whose Pistons fell to the 76ers in Philadelphia – said of the decision to suspend the season. “I think it’s the prudent thing to do.”Miami Heat coach Erik Spoelstra said the virus outbreak is much bigger than basketball.“Stunned,” Spoelstra said after his team lost to the visiting Charlotte Hornets.“It’s a very serious time right now. I think the league moved appropriately,” added Spoelstra.Cuban said he was thinking of the safety and health of his family members.Read Also: Tension as Juventus star tests positive for coronavirus“This is global pandemic. Peoples’ lives are at stake. I am more worried about my kids and my 82-year-old mother than when we play our next game.”Cuban spoke directly to the Mavs’ players after the game, telling them to remain in Dallas and don’t invite friends in from out of town.“We expect you to stay in Dallas and I was very specific to say who you talk to, is very important. Bringing people in from out of town because you have down time is not going to work.”FacebookTwitterWhatsAppEmail分享 The NBA suspended the season Wednesday after a Utah Jazz player tested positive for the new coronavirus, prompting a game to be abandoned just before tip-off. General view of NBA ball during a game between the Milwaukee Bucks and Detroit Pistons in February. The league has temporarily suspended its season after a Utah Jazz player tested positive for COVID-19 The test result was reported as Utah’s game against the Thunder in Oklahoma City was about to begin. The game was abruptly postponed and the players were effectively quarantined in the locker room area. The league said the affected player, believed to be French defensive standout Rudy Gobert, was not at the arena and was being treated by health officials in Oklahoma City. “The NBA is suspending game play following the conclusion of tonight’s schedule of games until further notice,” the league said. “The NBA will use this hiatus to determine next steps for moving forward in regard to the coronavirus pandemic.” The Jazz issued a statement saying the player had flu-like symptoms but initially tested negative for influenza and a respiratory infection. The decision was made to test again for COVID-19, for which he tested positive. “A preliminary positive result came back right before tip-off of the Utah Jazz-Oklahoma City game,” the Jazz statement said. “The decision was correctly made by the NBA to postpone the game.”center_img The league and the team have declined to name the player, but Denver Nuggets coach Mike Malone told reporters he believed it was Gobert, who was listed first as questionable for the game and then as out with illness. “Rudy Gobert. You think it is not going to affect us, we are NBA,” said Malone. “One of our players has the coronavirus. “Who knows what that means for their team and the other teams that have been with them.” – ‘This is crazy’ – Gobert angered members of the Jazz media on Monday when he deliberately touched every microphone at a news conference, in what appeared to be a show of bravado about the disease. Team owners had been discussing Wednesday how the league should respond to the coronavirus outbreak. Dallas owner Mark Cuban was sitting courtside at the Mavericks’ game against the visiting Nuggets when he got the news on his phone. “I thought this is crazy. It can’t be true,” Cuban said. “It is like out of a movie. Unreal.” Promoted ContentSome Impressive And Almost Shocking Robots That ExistThe Highest Paid Football Players In The World6 Ridiculous Health Myths That Are Actually TrueCan Playing Too Many Video Games Hurt Your Body?Top 10 Tiniest Phones Ever Made10 Risky Jobs Some Women DoThese TV Characters Left The Show And It Just Got BetterBirds Enjoy Living In A Gallery Space Created For ThemThe Very Last Bitcoin Will Be Mined Around 2140. Read More7 Ways To Understand Your Girlfriend Better7 Non-Obvious Things That Damage Your Phone7 Reasons It’s Better To Be A Veganlast_img read more

Taal ashfall eyed as soap ingredient

first_imgBoracay Women Producers Cooperative chairman Maria Ninfa Desiree Segovia says that the cooperative plans to use ash fall produced by the Taal Volcano as ingredient to the soap they are projecting to produce. YOURHOSPITALITYHEROES.COM A cooperative in the world-famousIsland, BWPC claimed that that the ash fall could serve as an ingredient to thesoap they are projecting to produce. BORACAY– The Boracay Women ProducersCooperative (BWPC) plans to ask the Department of Science and Technology inhelping them gather the ashfall produced by the Taal Volcano last month. The Taal volcano recently produced tonsof ashfalls in the provinces of Cavite, Batangas and in Mindoro. According to the website,ashfall benefits the skin. Among those cited were blood disenfection; bilesecretion; aid oxidation reactions in the body; protection of protoplasm cellsand synthesis of collagen (one of the main proteins needed for the structuralintegrity of the skin)./PN “Right now, we are using thepowdered drift wood as main ingredients for our soap. We sell the soap toseveral resorts here, according to Maria Ninfa Desiree Segovia, chairman of theBWPC. So far, the cooperative uses debris fromfallen trees and branches brought by Typhoon Ursula in December last year asingredients. Rain water is also utilized as part of the process. last_img read more

Elvin E. “Nip” Miller

first_imgElvin Eugene “Nip” Miller, 98 of Moores Hill passed away Tuesday March 14, 2017 at Ripley Crossing in Milan. Nip was born in Manchester Twp. on Thursday May 9, 1918 to Earl and Cora Jane (Gillmore) Miller. He married Martha (West) Miller May 18, 1946 and she survives. Nip was a local building contractor and developer.  He was a member of the Moores Hill Methodist Church, former town board member, and he belonged to the Realtor Association for many years. Nip was very active in his church, and he helped get the Senior Citizen building built in Moores Hill.  Nip enjoyed traveling to many places.Nip is survived by wife: Martha Miller of Moores Hill; Sons: Gerald Miller of Moores Hill; Ronald (Cindy) Miller of Lawrenceburg; Daughter: Dorothy (Ted) White of Milan; 6 Grandchildren: Denise (Scott) Smith, Dale (Jill) Miller, Dean Miller, Ronnie Miller, Stephanie (Gary) Lauber, Rob Wetzler.  15 Great-Grandchildren, 5 Great-Great-Grandchildren.  He was preceded in death by his parents, 5 brothers, 2 sistersFuneral services will be at 1PM Saturday March 18, 2017 at Sibbett-Moore Funeral Home, with Rev. Ted Hamrick officiating.  Burial will follow in Forest Hill Cemetery.  Visitation will be Saturday March 18, 11AM-1PM also at the funeral home. Memorials may be made to the Moores Hill Methodist Church, Moores Hill Life Squad, Ripley Crossing Activity Fund. Sibbett-Moore entrusted with arrangements, 16717 Manchester Street., Box 156, Moores Hill, IN 47032. (812)744-3280.  Go to to leave an online condolence message for the familylast_img read more