China, India agree to reduce tensions after deadly clash

first_imgHe added that ways to reduce frictions in the Ladakh region opposite Tibet “were discussed and will be taken forward by both the sides”.The source gave no further details, but the clashes followed an earlier agreement to disengage struck in early June after weeks of rising tensions that included several brawls.The June 15 violence took place around 4,500 meters above sea level in the Galwan valley, where both sides accuse each other of encroaching on their respective territory.China has said it suffered casualties but has not given more details. Indian media reports suggested there were more than 40 casualties on the Chinese side.The meeting between military commanders came ahead of virtual talks between the foreign ministers of India, China and Russia later Tuesday, ostensibly to discuss the coronavirus. China and India have agreed to reduce tensions a week after clashes on their disputed Himalayan border left 20 Indian troops dead in brutal hand-to-hand fighting.The June 15 battle, reportedly fought with fists, clubs and rocks, was the first time troops have been killed on their border since 1975 and marked a major deterioration in ties between the two Asian giants.Chinese foreign ministry spokesman Zhao Lijian said that after talks between the top regional military commanders on Monday, both sides “agreed to take necessary measures to promote a cooling of the situation”. The Press Trust of India said the meeting was between Lieutenant General Harinder Singh, commander of the 14 Corps, and Major General Liu Lin, commander of the Tibet Military District.”The holding of this meeting shows that both sides want to deal with their disagreement, manage the situation and de-escalate the situation through dialogue and consultations,” Zhao told a regular news conference.The two sides “exchanged frank and in-depth views” and “agreed to maintain dialogue and jointly committed to promoting peace and tranquility in the border areas”, Zhao added.There was no official comment from New Delhi but an Indian army source said that after the meeting, reportedly lasting almost 11 hours, that there was a “mutual consensus to disengage”.center_img Topics :last_img read more

UK roundup: Total UK Pension Plan, PIC, LCP, Aon, Mercer

first_imgThe Total UK Pension Plan has agreed to insure more than 60% of its liabilities with Pension Insurance Corporation (PIC) in the UK industry’s second largest bulk annuity deal.The pension plan, which has a total of £2.6bn (€3.2bn) in liabilities, agreed to insure £1.6bn with PIC, covering pensioner liabilities.The deal surpasses the £1.5bn buyout arrangement for the EMI Group Pension Fund, also agreed with PIC.Earlier this year, the ICI Pension Fund arranged a £3.6bn buy-in with two separate insurers, accounting for a third of its liabilities. Chair of trustees for the pension scheme, Iain McCombie, described the deal as complex, but he said the arrangement remained favourable to the sponsor and the scheme.LCP, the consultancy that advised the pension fund and sponsor, said the number of £1bn+ deals would increase this year, with the potential for more than £10bn in bulk annuity business by year-end.Mayor Brown, the law firm, also advised the trustees of the scheme.In other news, Aon, the US insurance group, has said it completed a five-and-a-half-year, £400m arrangement to allow a sponsor to offer surety bonds to its pension scheme.A surety bond is an arrangement between a sponsor and insurance company that guarantees the pension fund receives payment in cases such as company insolvency or missed payments in deficit recovery plans.The sponsoring company, a FTSE 100 firm, put in place the surety bond as part of the scheme’s funding strategy.Aon Risk Solutions team leader Mark Holt said the arrangement was a market first.“It has brought together eight major insurance companies in the largest syndication the UK surety market has ever seen,” he added.Lynda Whitney, partner at consultancy and subsidary Aon Hewitt, said the surety bonds offered a new option for employer-scheme funding, one that did not strain working capital.And finally, the deficits of defined benefit (DB) pension funds in FTSE 350 firms grew to £113bn over the month of May, according to analysis from Mercer.The small increase of £2bn, on an IAS 19 basis, leaves scheme funding at 85%.Assets also grew over the month, by £8bn, leaving total assets at £583bn, and liabilities at £686bn.Senior partner in Mercer’s retirement business, Ali Tayyebi, said May was reminiscent of April, where total liabilities increased despite a rally from assets.“Again, a fall in long-dated corporate bond yields was the driving factor behind the increase in liability values,” he said.last_img read more

Irish schemes face new funding requirements in pensions bill

first_imgIrish companies will be forced to give 12 months’ notice before ceasing contributions to their pension schemes under a proposal published this week by Ireland’s Department of Social Protection.If a company wants to shut a scheme in deficit, the proposed law would require it to enter into funding negotiations with trustees within the same 12-month period.The laws form part of the Irish government’s Social Welfare and Pensions Bill 2017, covering reforms of Ireland’s defined benefit (DB) pension rules and its social benefits system.Fianna Fáil’s Willie O’Dea and the Labour Party’s Willie Penrose have both tabled proposals for similar DB reform in recent months. Pressure has been building on the government and the regulator, the Pensions Authority, to reform DB rules to stop companies from abandoning their schemes, particularly in light of the high-profile closure of the Independent News & Media pension fund last year.Announcing the bill, Leo Varadkar, minister for social protection, said: “It is particularly important that the proposals relating to DB pension schemes are brought into effect as soon as possible, and we will strive for a constructive debate in the Oireachtas [Irish parliament].”The bill includes a rule requiring DB trustees to submit a funding proposal to the Pensions Authority within six months of an actuarial valuation. The Pensions Authority would also have the power to impose a schedule of contributions to fund a deficit if a plan is not submitted or fails to meet the required standard.Varadkar said he aimed to get the bill enacted by parliament before it takes its summer break from 20 July.The full draft bill is available here.last_img read more

IPE Conference: Solving the corporate gender imbalance

first_imgAvivah Wottenberg-Cox, CEO, 20-first“Whatever you think of this kind of research – and I know it’s hotly debated especially in financial circles – there’s been a whole slew of it,” she added.The data was starting to have an impact on a number of companies, nudging them into trying to address the topic more substantially, Wittenberg-Cox said.“Right now the question for a lot of companies is are they good at attracting, retaining and promoting what is now the majority of educated talent on the planet,” she said, noting that 60% of university graduates were now female.Wittenberg-Cox said that in most of the companies her firm was consulting – particularly large, multi-national organisations – the intake levels of staff were well balanced.“But then what happens is, as you go up the leadership ranks into management roles, the percentage of women begins to drop and the percentage of men begins to rise,” she said.“The percentage of women in finance companies followed this trend exactly,” she said. However, Wittenberg-Cox added that the pattern differed between public sector and private sector companies within finance. Senior managers at companies are in the best position to correct gender imbalances that exist in the staffing of businesses internationally, according to a poll of pensions industry attendees at the IPE Conference in Prague.Avivah Wittenberg-Cox, chief executive of international consultancy 20-first, told the conference: “If you want a gender balance, it becomes a leadership and management skill to be built up much more than a diversity problem to be fixed.”Asked what they believed was the “key lever for making real change”, 61% of delegates gave the answer “leadership teams”.Some 24% of respondents said individual managers across the company constituted the primary tool for change, while 12% said women managing their own careers held responsibility. A further 4% answered that women’s networks were the most important element. Wittenberg-Cox described the rise of women within economies and companies as having a “world-changing impact”.There was now a large amount of academic research that correlated bottom-line performance at companies to the gender balance within executive teams, she said.last_img read more

The tips and tricks you need to know to help get your home loan approved

first_imgYou may be spending money just because you can. But in the eyes of a lender, if you spend all of your money then there’s no way you will be able to make any additional repayments. Upon any loan application being received, it is likely you will be asked to list your expenses. Please note, this isn’t something you can just make up as the lender assessing you will check your day-to-day account over the past six months to make sure your story checks out. That’s why it’s super important to have a budget that you stick to.MORE: Why Coast home prices are bucking national trends More from news02:37International architect Desmond Brooks selling luxury beach villa14 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoMORE: Apartment sales at two-year high Avoid unnecessary debt! The importance of stability Pay your bills on time Did you know you can buy your personal credit file online? Once you’re in possession of it, you will be able to view every inquiry that has ever been made on you, many of which may come as a surprise. On your credit file, you will see loans listed that you didn’t even take out, but may still be affecting your credit rating. The benefit of having your credit file is that you can see how the bank will review and assess you – except now you can answer the questions before they make assumptions. Furthermore, your credit file will highlight any outstanding loans or defaults you may have, the latter of which will remain on record for five years. While inconvenient, this isn’t a deal breaker if it can be explained from the outset. If it comes as a surprise, you risk your loan applications being automatically declined. Try Saving as much cash as you can will show lenders you can manage money. It goes without saying that banks enjoy being repaid quickly. Therefore, if you’ve paid off any loans faster than required this is viewed upon admirably. Make sure that, at the very least, you always pay on time and you don’t miss any payments throughout the entire term of any loan that you have. Save cash regularly More and more house hunters are struggling to get home loan approvals because banks are tightening their lending criteria.SCRIMPING and saving for a deposit used to be one of the toughest parts of buying a house but securing a loan is well on its way to claiming the title.More and more house hunters are struggling to get loan approval because banks are tightening their lending criteria.Finance and property expert Ayda Shabanz, who has been in the industry more than 15 years, couldn’t remember a more difficult time to get a loan.“It doesn’t matter if it’s a personal, home or car loan – unless you know exactly what the bank is going to assess your application on, you’ll find it difficult because the criteria for lending has changed,” she said.She said the trick to getting approval was good money management.These are her tips to help buyers prepare when applying for a loan. Check yourself before you wreck yourself Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenStarting your hunt for a dream home00:51center_img Maintain good loan conduct We lead busy lives and our time poor nature makes it very easy to forget to pay a bill. But if you’re applying for a loan soon, it’s really important to be on top of all of your bills, especially repayments to credit cards and other existing loans. Lenders are obliged to check your credit history and one of the latest queries I’m seeing is around late payments on cards or over limit fees. Let me make it crystal clear – moving forward, banks will be extremely hesitant to extend a loan or credit if you can’t pay your current cards on time. Increase the chances of your loan application being approved by setting up automatic payments and reminders, which will help you fulfil your end of the repayment deal. If you’re privileged enough to be able to avoid being in debt, don’t be in debt. I say this because when it comes to home and commercial loans, it’s best to not have any unsecured debit in your name. By avoiding personal loans, car loans and credit cards, you make your borrowing power stronger. Also, most people have credit cards with large limits that they don’t use, but they don’t understand that lenders calculate the limit you have, regardless of what you actually use, and this can affect your borrowing capacity. You may think this isn’t a loan but don’t be fooled because it is classified as credit. Always remember that each time you apply for Afterpay or Zip Pay, you’re effectively getting a loan, which is recorded on your credit file. This is viewed unfavourably by banks because it implies that you’re already struggling to afford your lifestyle. Banks want to be sure that you’re stable. Stability is demonstrated through your employment history and how long you’ve lived at the same address. To help the chances of your loan application being processed, lenders will look favourably upon those who have maintained the same residential address for two years plus. It also helps to have been in the same job for 12 months or longer. However, if you’ve just got a new job in the same industry that you’ve been in for several years that pays more money, this won’t affect you provided that your probation period is over. Get familiar with your credit file Use Zip Pay and Afterpay Cautiously! I can’t emphasise this point enough: save, save and save some more. Each payday, you should be consistently saving the same amount in a separate account to prove that you have the ability to manage money. Typically speaking, banks will want to see a historical pattern for a minimum of six months but depending on the type of loan you’re after, this desired period may even be longer. Lenders are looking for proof that you can afford the loan comfortably, regardless of what you earn. Lenders look favourably upon people who have lived at the same address for two years or more.last_img read more

University of Plymouth Leads New Study of Lyme Bay MPAs

first_imgScientists from the University of Plymouth are leading new research using acoustic tracking technology to explore the importance of offshore aquaculture and Marine Protected Areas (MPAs) to commercially important species. The research will focus on Lyme Bay, off the south coast of England, which is home to the UK’s largest offshore rope cultured mussel farm, operated by Offshore Shellfish.Lyme Bay is also home to an MPA, located to the east of the mussel farm, which has been protected from scallop dredging and trawling for 11 years, resulting in the recovery of biogenic reef habitats.Senior research fellow Dr Emma Sheehan and her team at the University have been using underwater surveys to assess the ecological effects of the MPA since 2008, and the offshore mussel farm since the beginning of its development in 2013.By excluding bottom towed fishing, and introducing food and shelter, the farm has created biogenic reef habitat that attracts fishes, crustaceans, sponges and sea weeds, including several economically important species that could benefit the wider fishing community.Through the new Response of Predators to Protection and Enhancement (ROPE) project, funded by the European Maritime and Fisheries Fund, the team will tag and track multiple commercial species including sea bass, brown crab, lobsters and crawfish. The aim will be to compare the relative habitat value of the mussel farm to the protected reefs in the MPA.Dr Simon Pittman, ROPE Research project manager, said: “In the UK and worldwide there is increasing interest in the role of the ocean in sustainable food production and how best to manage ocean spaces for multiple uses. The mussel farms in Lyme Bay are located close to an MPA and locally important fishing grounds making it the ideal setting to get a better understanding of the ecological and economic implications.”Dr Sheehan, ROPE Project lead, added: “This project presents a unique and exciting opportunity to look at the effects of habitat enhancement resulting from offshore aquaculture development. Very little is known about the ecological consequences of offshore aquaculture, despite calls for a move towards offshore development and a recent emphasis on Blue Growth in the UK. Aquaculture is listed as one of the key development sectors and this study will support the evaluation of offshore aquaculture in sustainable management of the ocean.”The Response of Predators to Protection and Enhancement (ROPE) project is funded through a grant of £187,545 from the European Maritime and Fisheries Fund (EMFF).last_img read more

Applications for Judicial Review on IPO matter filed.

first_img Sharing is caring! LocalNews Applications for Judicial Review on IPO matter filed. by: – April 12, 2011 Senior Counsel Athony Astaphan, this morning in an interview with Dominica Vibes News, confirmed that applications were filed at the Court for judicial review on appointment of Dave Bruney to the Integrity in Public Office Commission. “I can confirm that at 3:42 pm on 11th April, 2011 an application for leave to apply for Judicial review and for interim remedies and injunctions and orders were infact filed. We are now waiting to hear from the court on whatever decision or directions will be made on the hearing of that application. ”He further explained the purpose of the letter which was issued to the President on Friday 8th April, 2011, “The President cannot do anything, but as a matter of courtesy we had a duty to inform His Excellency the President of what we intended to do. He is bound by the Constitution to act in accodance with the advise he receives either from the Prime Minister or the Leader of the Oppositon on matters of this kind. That is why we are also seeking to challenge the reccomendation made by the Leader of the Opposition as well as the decision of the President.”Copies of documents will also be made available to the Chairman of the IPO as a matter of courtesy or if directed by the Court.We will continue to monitor the developments and provide updates as they become available.Dominica Vibes News Share Tweetcenter_img Share 16 Views   no discussions Sharelast_img read more

Sagicor, Rotary Club and Dominica Diabetes Association to host public lecture

first_imgLocalNews Sagicor, Rotary Club and Dominica Diabetes Association to host public lecture by: – March 1, 2012 12 Views   no discussions Share Tweet Sharecenter_img Share Sharing is caring! Sagicor Company Limited has collaborated with the Rotary Club of Dominica and the Dominica Diabetes Association on educating the public on the threat posed by the emerging epidemic of Chronic Non-Communicable Diseases – CNCD’s.Photo credit: manhattanpodiatry.comThese three organizations have collaborated to host a public lecture and discussion on the topic “Diabetes and the foot” on Thursday evening at the Fort Young Hotel.A news release issued by the organizers indicates that Chronic Non-Communicable Diseases – CNCD’s is one of the leading causes of deaths in Dominica. Data from the Health Information Unit reveals that diabetes is the third leading cause of both morbidity and mortality in Dominica.The public lecture and discussion was therefore organized to educate the public on the threat posed by the emerging epidemic of CNCD’s. The lecture will be delivered by Ms. Anna Evans, a research podiatrist of Ipswich Hospital in the United Kingdom and will focus on diabetic foot and its devastating effects on the individual, the family and society as a whole. Ms. Evans has been recruited by the Rotary Club of Dominica and will be attached to the Primary Heath Care Services for two months to provide to the District Health Teams in setting up foot care clinics.The news release also states that “statistics reported by the Ministry of Health reveal an increasing trend in the incidents of lower limb amputations” therefore Sagicor believes that “to reverse the upward trend in diabetes related complications it is important to hold conversations with people at all levels of society”.The organizers are hopeful that this lecture will compliment the ongoing efforts by the Ministry of Health and other stakeholders for the “benefit of the Dominican population as a whole and people living with diabetes”.The general public is invited to the lecture which is free of charge.Dominica Vibes Newslast_img read more

Negros records 26 firecracker injuries

first_imgAt least 26 persons, including 11minors, have been injured during the New Year celebrations across NegrosOccidental, including the capital of Bacolod, as of Wednesday morning. Most of the victims sustained burns,while several others suffered blast injuries, it added Despite the number offirecracker-related injuries in the province, the Department of Health saidthey recorded a 35 percent drop in firecracker injuries nationwide this yearcompared to last year./PN Another victim, a 40-year-old man fromthis city was injured in both legs when a can filled with stones and afirecracker exploded, causing the stones and debris to become shrapnel. It was also noted that most of thevictims were minors or those under the influence of liquor. BACOLOD City – As the New Year 2020 rolled in on Wednesday, hospitals inNegros Occidental saw the arrival of patients injured by firecrackers one afterthe other. The number of people injured byfirecrackers is also expected to rise as the records do not include thosebrought to various private hospitals in Negros Occidental.center_img Meanwhile, records from Bacolod CityPolice Office (BCPO) showed they recorded three incidents offirecracker-related injuries in their jurisdiction, while the Negros OccidentalPolice Provincial Office released data taken between December 24 and January 1showing 23 firecracker-related injuries. NOCPPO’s record also showed thatmishandling of firecrackers was the commonly caused of the incidents. One victim from Bacolod also sufferedblast injuries after the “Five Star” he was holding got stuck in hishand and exploded. Based on records released by theCorazon Locsin Montelibano Memorial Regional Hospital (CLMMRH), 16 people werebrought to the hospital between Tuesday and Wednesday after suffering injuriesfrom firecracker use. The same record of CLMMRH showed thatone victim had lost a finger after, while another patient which originated fromHinigaran suffered burn injuries in his eyebrow and parts of his face.last_img read more

Girls Golf Regional Results At New Castle

first_imgHamilton Southeastern won The Girls Team Regionals at New Castle. Columbus North and New Palestine placed 2nd and 3rd respectivelly to advance to The State Finals.Connersville placed 10th and Batesville 16th.Lindsey Hackleman of Connersville individually qualifies for The State Finals.Girls Golf Regionals at New Castle (9-27)The Girls Golf State Finals woll be on Saturday (10-4) at The Prairie View Golf Course in Carmel.Courtesy of The IHSAA.last_img