Italian government to ‘help’ pension funds invest in domestic economy

first_imgItaly’s finance minister Pier Carlo Padoan has made a commitment to help create the conditions for “spontaneous” investment by pension funds in the Italian economy.Speaking at a conference hosted by government-backed pension think tank MEFOP in Rome, Padoan said the government wanted to act as “facilitator” to make sure institutional investors met the demand for finance from Italy’s corporate sector.Padoan, who is heading the EU finance ministers’ council Ecofin as Italy takes the EU presidency for the next six months, spoke of “market failure” in Italy as, he says, “there is no investment in assets with specific duration or in specific sectors or geographies – this is not a problem that only concerns Italy, as Australia, as head of the G20 in 2014, has also put it at the top of its agenda.”He added: “I will make sure the ministry I represent makes all the effort and provides all help needed to foster spontaneous investment by pension funds in the economy. Government action can facilitate the creation of new markets, in full respect of the autonomy of investors.” Mauro Maré, MEFOP chairman and professor of finance at Università della Tuscia, cited data from pension regulator Covip showing investment in Italian listed companies from pension funds amounted to 0.9% of overall assets in 2013.Total assets for the sector (including first-pillar casse di previdenza) topped €170bn at the end of last year.Maré proposed a solution where pension funds would set up by themselves a fund for investment in the real economy, with an ad-hoc governance structure.Other solutions being discussed is having state bank Cassa Depositi e Prestiti borrow money from pension funds and redistribute it to firms.Italy has also created ‘minibonds’ to facilitate the issuing of credit by SMEs, although the market has failed to grow.However, experts at the conference expressed conflicting opinions on whether Italian pension funds should be compelled to finance the domestic economy.Some are worried that, if the government dictates what assets pension funds invest in, it would be equivalent to nationalising them.The recent nationalisation of pension assets in Hungary and Poland were mentioned as examples of what could happen if pension funds were influenced too greatly by the government.Nicola Rossi, professor of economics at University of Rome Tor Vergata, said: “Forcing pension funds to invest in the real economy would be the same as taxing them, so the government may as well tax them. That is a lot easier.”Padoan added: “Expropriation, taxation, financial repression, obligation are words that I would never use to describe the relationship that politics wants to have with institutional investors.“The problem is how to favour a global environment for investors that incentivises investment in the long term, for instance, in infrastructure. As EU president, Italy is particularly concerned with this shortfall.“Therefore, it has asked that investors who are already investing for the long term are used better, and that a system of incentives and rules is created so that, ultimately, there is more spontaneous investment in these assets.”Padoan reiterated that the country’s debt was “sustainable” and praised the reforms of the first pillar undertaken by his predecessors.He said: “The Italian pension system has taken many steps forward in recent years with a series of reforms, which have been recognised internationally from institutions such as OCSE.“In terms of public debt, there are many indicators today showing that Italy, especially the sustainability of welfare expenditure in the long term, is among the best-performing countries.“The only way of keeping debt sustainable in the long term is growing because, without growth, we will fall back into a debt crisis. This is why Italy has pushed for growth to be a priority. All EU partners agree wholeheartedly, and this priority has been confirmed officially.”As his tenure at Ecofin began, Padoan’s goal has been to convince his peers to put economic growth at the top of the list of priorities for the Commission in the months to come.He said: “Growth has not been a priority for the past years, as the EU has focused on other issues.”Panellists at the MEFOP conference, which focused on the sustainability of the pension system and its role within the economy, warned that demographic and economic forces in Italy were making the old grow older and richer, while young people struggled to find economic stability and faced the prospect of not having a public pension.They said Italy should think about comprehensive welfare reform to avoid “intergenerational conflict”, which would include further changes in the first pillar system and stimulate growth in the second pillar.last_img read more

Mount Sentinel off to provincials once again, make 26th straight appearance after bouncing Crowe and Stanley Humphries at zone finals

first_imgIn 1985, Microsoft Corporation released the first version of Windows, Windows 1.0; compact Discs are introduced to American Consumers and the Mount Sentinel Wildcats won the West Kootenay High School AA Boy’s Volleyball zone.Twenty-six years later, technology has changed but the same school is being represented at the Provincial AA Volleyball championships.The Wildcats booked its 26 consecutive trip to the provincials by defeating Trail’s J. Lloyd Crowe Hawks and the Rockers of Stanley Humphries during the zone finals Wednesday at the Mount Sentinel gymnasium.The Cats posted straight set wins over both teams.Mount Sentinel enters the tournament, set for two weeks time at UBC Okanagan gymnasium in Kelowna, up a few rungs on the ranking ladder after posting wins over Kimberley’s Selkirk Storm and Prince Charles Comets of Creston during the recent Mount Baker Tournament in Cranbrook.Selkirk is ranked 12th while the Comets are locked in tenth spot.“Mt Sentinel has now moved up in the rankings and is playing some of their best volleyball of the year heading into to the Provincials,” said head coach Glen Campbell.Leading the Cats is senior striker Zach Grigg.The Grade 12 player won the Spike Competition in Cranbrook and has been recruited heavily by colleges and universities.Grigg has been recognized at one of the top five high school players in [email protected]last_img read more

Wade, Chirico pace Bombers to 5-1 win over Rockers

first_imgThe Bombers looked strong on the home pitch at Lakeside, scoring early and often.Naomi Perkins scored the other goal for the Bombers.”There was amazing mid field work by Allie Zondervan and Abbie Bourchier-Willans while keeper Tara Yowek  was outstanding in the net,” said coach Val Gibson.The winner of Tuesday’s semi final advances to meet the Rossland Royals in the West Kootenay Final Thursday (October 25) at Pass Creek.The zone winner qualifies for the B.C. High School AA Fieldhockey Championships in Burnaby.The loser plays a backdoor game into the provincials against Fraser Valley No. 2 in Kelowna October 30. Sarah Wade and Chiara Chirico each scored twice sparking the  L.V. Rogers Bombers to a convincing 5-1 decision over the Stanley Humphries Rockers in West Kootenay Fieldhockey League action Wednesday afternoon at the Lakeside Pitch.The game was a preview to the West Kootenay semi final set for Tuesday at Pass Creek in Castlegar.last_img read more

Team Cranked Up captures The Nelson Daily Team Fundraising award at Scotia Bank MS West Kootenay Glacier Challenge

first_imgFor the second year in a row, Cranked Up team of Maggie Mulvihill and captain Sheri Allarie won the award, raising more than $3400.The total fundraising total for the Scotia Bank MS West Kootenay Glacier Challenge is $83,100.The West Kootenay Glacier Challenge, which happens over two days, see participants ride around the Kokanee Glacier in the Selkirk Mountains, from New Denver to Slocan, to Kaslo, and back to New Denver with an overnight in Nelson. The Cranked Up team of Maggie Mulvihill and Sheri Allarie cranked it up once again to claim The Nelson Daily Team Fundraising Award during this past weekend’s Scotia Bank MS West Kootenay Glacier Challenge.Scotia Bank MS West Kootenay Glacier Challenge raises money for the West Kootenay MS Society to fund local programs and services for people affected the disease as well as to support critical research for improved treatments and to find a cure.last_img read more

Harry Kane matches European goal record as he hits new milestone

first_img 1 tense Sky Sports presenter apologises for remarks made during Neville’s racism discussion And upon scoring the double he passed legendary forward Martin Chivers’ European tally (22) and equalled Jermain Defoe’s record (23).All of Defoe’s goals came in the Europa League, while Kane has hit 13 in 14 Champions League games, adding to his 10 in Europa League ties.The 25-year-old, though, has reached the haul in more games than both Defoe and Chivers having made 45 appearances, compared to the former’s 35 and the latter’s 32. Tottenham Hotspur superstar Harry Kane has hit another milestone in his stunning career after a brace against PSV Eindhoven in the Champions League.The striker’s vital goals saw him reach 150 in all competitions for the north London club – the fifth player in their history to manage the feat. latest RANKED BEST OF The average first-team salaries at every Premier League club in 2019 Most Popular Football Stories gameday cracker whoops Top nine Premier League free transfers of the decade revealed center_img Boxing Day fixtures: All nine Premier League games live on talkSPORT SORRY Gerrard launches furious touchline outburst as horror tackle on Barisic sparks chaos scrap Did Mahrez just accidentally reveal Fernandinho is leaving Man City this summer? Arsenal transfer news LIVE: Ndidi bid, targets named, Ozil is ‘skiving little git’ LATEST Green reveals how he confronted Sarri after Chelsea’s 6-0 defeat at Man City Every time Ally McCoist lost it on air in 2019, including funny XI reactions Tottenham Hotspur superstar Harry Kane celebrates scoring his second against PSV Eindhoven. After the game, Kane told reporters: “Jermain might not be too happy about that one if I overtake him but I’ve always said I’ve learnt a lot from Jermain, especially at the club growing up.“Obviously he was a fantastic goalscorer at the club so to be level with someone like him is a nice achievement.” Liverpool news live: Klopp reveals when Minamino will play and issues injury update last_img read more

Carndonagh Community Hospital upgrade pushed back again

first_imgEssential upgrade work at Carndonagh Community Hospital, which was due to start in 2017, has been pushed back by yet again. The project, which was announced more than three years ago, has had no tender documents issued and no contractor appointed.The upgrade was most recently due to start in late 2019 with a completion date of 2021 following written confirmation by the Health Service Executive to the Carndonagh Community Hospital Liaison Group in March. In 2016, Minister Joe McHugh announced funding of €2.6m for the premises under the government’s 2016-21 capital plan in January 2016.Planning permission was later sanctioned for the project in 2017.Residents of Carndonagh Community Hospital were due to move to Buncrana Nursing Unit while the first phase of the upgrade got underway.The Buncrana Nursing Unit was also sanctioned an upgrade but work was due to commence there when upgrade works to Carndonagh Community Hospital had been completed. Carndonagh Community Hospital upgrade pushed back again was last modified: June 19th, 2019 by Shaun KeenanShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

Darwin Party’s Hot Air Machine Never Stops

first_imgby David F. CoppedgeAudio Player Up/Down Arrow keys to increase or decrease volume.Do Darwinians ever tire of dishing out vacuous, airy stories about things? Never; with creationists grabbing headlines, they just turn up the heat.Empirical observations are like props on a stage to Darwinians. The play is the thing; the narrative must go on, with or without props. A variety of recent news articles shows Darwinians making up stories out of thin air, using pictures of bones or strata or modern animals that have nothing necessarily to do with the narrative. It gives the public an impression that the data are driving the story, when in actuality, the opposite is the case. And when data are missing entirely, artwork or imagination can fill in the gap – or assertions that are plain lies.How dinosaurs may have evolved into birds ( The operative words are, “may have.” This article begins, “Studies of dinosaur fossils that show bird-like traits, such as feathers, light bones, air sacs and three-digit forelimbs, clarified the evolutionary kinship of birds and dinosaurs.” The example they show, however, is the bird Microraptor gui, which had feathered wings and legs and flew. It was a bird, not a dinosaur. A corrected version of the headline should say, “How birds may have evolved into birds.” But that wouldn’t fit the narrative. So on they go, using irrelevant genes as props to weave a tale about how hopping lizards evolved powered flight (see 5/22/17). Don’t worry about the names of the genes. Watch how they are used:Because the ASHCEs in genes such as Sim1 were highly conserved and therefore largely unchanged by evolution since the dinosaur era, this suggests CREs such as ASHCEs were vital in developing bird-specific traits and may have driven the transition of dinosaurs to birds.The genes distract attention from the question of how random changes in a code would generate major functional innovations.  The genes they cite didn’t even change. Something had to change to make a dinosaur flap new wings into the sky. What was it?“You don’t just partly fly, because flight requires not just having a pair of wings, but having your entire biology coordinated towards that function.” —Paul NelsonAccording to Darwinian theory, random mutations in dinosaur DNA led to powered flight. But that’s a huge amount of change! “You don’t just partly fly,” Paul Nelson quipped in the Illustra Media documentary, Flight: The Genius of Birds, “because flight requires not just having a pair of wings, but having your entire biology coordinated towards that function.” Saying that random changes “may have driven” a dinosaur to become a bird is like saying that random changes can turn a wagon into a guided drone — no intelligence required.Whales only recently evolved into giants when changing ice, oceans concentrated prey ( In this article, the Smithsonian claims that ice ages made whales grow big. According to the Darwin-drenched fossil dating scheme, the giant whales only came into existence recently. Here’s the story, which presumes evolution without demonstrating it. Watch for the storytelling words like suggest, somehow, and imagine:The research team traced the discrepancy back to a shift in the way body size evolved that occurred about 4.5 million years ago. Not only did whales with bodies longer than 10 meters (approximately 33 feet) begin to evolve around this time, but smaller species of whales also began to disappear. Pyenson notes that larger whales appeared in several different lineages around the same time, suggesting that massive size was somehow advantageous during that timeframe.“We might imagine that whales just gradually got bigger over time, as if by chance, and perhaps that could explain how these whales became so massive,” said Slater, a former Peter Buck postdoctoral fellow at the museum. “But our analyses show that this idea doesn’t hold up—the only way that you can explain baleen whales becoming the giants they are today is if something changed in the recent past that created an incentive to be a giant and made it disadvantageous to be small.”While we might congratulate these evolutionists for backing away from chance, their replacement explanation makes no sense at all. How can animals understand an incentive? And why are there still small and medium-sized whales today? If this “incentive” were a law of nature, then every animal would evolve to giant size. Their prey, krill, could also evolve to become giants so that baleen whales couldn’t eat them. No matter what happens, the answer is the same: “it evolved.” The explanation is a distraction from the much larger issue: how did a four-footed land animal evolve into a creature that spends its entire life in the water? For the problems with that, you’ll have to watch Illustra Media’s documentary, Living Waters: Intelligent Design in the Oceans of the Earth.Darwin was right: Females prefer sex with good listeners ( We reported May 31 that evolutionists have no explanation for the origin of sex. But given that sex does exist, now what? Eager to prove that her hero Darwin was right, Dr. Nerissa Hanink begins by singing his praises: “Almost 150 years after Charles Darwin first proposed a little-known prediction from his theory of sexual selection, researchers have found that male moths with larger antennae are better at detecting female signals.” Large antennae on moths are the props of her story. Hanink calls on experts who agree, one of them affirming that “Darwin’s theory of sexual selection is well supported by thousands of studies.” Supported, that is, except by the studies that do not, which we have covered often. For instance, peahens do not stare at the exotic feathers of male peacocks, as predicted by Darwin. But in the Darwin Party’s theater, no critics are allowed to interrupt the play.Well, what about those male antennae? Here’s her story line, told with a crescendo of enthusiasm, as she leans on the opinions of Australian biologist Mark Elgar:“But Darwin also proposed that sexual selection can favour males who are better at detecting and responding to signals from females, including chemical signals like pheromones. So males with sensory structures that can better detect female signals may have the edge in finding them in order to mate and pass on their genes.”But [Elgar] says this idea has been largely overlooked until now.Consider for a moment how surprising it is that Darwinians have had over 150 years to look at this, but they largely overlooked it until now. Why? It’s about time. Hanink looks at the research of a grad student, who conducted some tests, and did find that male moths with bigger antennae were able to detect smaller amounts of pheromone. Take time out to celebrate Darwin again: Take it away, Dr. Matthew Symonds:“Our data are consistent with Darwin’s 1871 prediction that sexual selection favours exaggerated sensory receptor structures like antennae,” says Dr Symonds.“As evolutionary biologists, it’s very rewarding to be able to support a long-standing idea, originally floated by Darwin, that hasn’t attracted much attention,” he says.Once again, ask if this is a law of nature. The title, remember, is that “males that are good listeners apparently make attractive mates.” If so, then men should have elephant ears, shouldn’t they? And big noses and huge eyes, to sense all the signals that women are sending out? And why are there any moths left with small antennae, after tens of millions of years of evolution? Is bigger always better? Evolution could have made existing antennae more sensitive without getting bigger, and the Darwin narrative would still work.Hanink extends the Darwin story further. She claims that females determine the size of male antennae. They choose to give off less pheromone, so that “high quality” males with bigger antennae will come to mate because they are more fit. But that is a non-sequitur. Carrying around large antennae is costly to the male. It could well be that it makes the male less fit. The moth with the smaller antennae could just follow the weight-encumbered male, and whiz by to get the female.These three examples show that, for Darwinians, empirical observations can become mere props to support a predetermined narrative. Without the props, the story works just as well, because whatever happened, “it evolved” — praise be to Charles Darwin. The evolutionary story distracts from the important questions, turning everyone’s eyes to all the sound and fury that signifies nothing, much like an air dancer that takes the driver’s eyes off the road.Video Player Up/Down Arrow keys to increase or decrease volume.Thanks to J. Beverly Greene for this animation made especially for CEH. All rights reserved.(Visited 588 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

SA’s free streaming radio player

first_img11 March 2008South Africans at home and abroad can now easily use the internet to listen to and even record their favourite local radio stations, thanks to a free, small and easy-to-use programme, “AmaRadio”, that was created by local developer Gary James.Based in Somerset West near Cape Town, James, the owner of a software company called StrategyOnline, last year developed an audio engine, which his company sells to other software developers.The idea for a small, easy-to-use programme through which one can listen to online radio feeds came about as a result of his wife wanting to listen to a Sydney, Australia based radio station over the internet, as well as his aversion to proprietary media players.ConvenientJames points out that while AmaRadio is only about four megabytes in size, players such as Windows Media Player and iTunes weigh in at over 40 and 50 megabytes respectively.With James’ audio engine being capable of playing streaming feeds, he decided to develop a homemade player through which one could listen to online radio stations and various other audio streams over the internet.“Then last week, I wrote an article for my clients explaining how I built this little programme for my wife, using my company’s audio engine,” James told SAinfo this week. “That article sparked the idea to build AmaRadio for South African radio stations.”Over the past weekend, James released a new version of the player, which allows the user to record streaming feeds straight to their hard drives in MP3 format.“In the near future I’ll be adding the ability to schedule recording, so at the start of the week you’ll be able to tell it to record 5FM on Tuesday, from 6pm until 7pm for example,” he explained. “That way, users will be able to listen to their favourite shows when it’s convenient for them.”FreewareJames said his plan was for AmaRadio to always be free software, even though his company could not afford to spend a huge amount of time on a project that did not generate income.Income would be generated from advertisers, radio stations and corporates, rather than from the users themselves.“I suppose there is always the possibility of keeping the free version, and then releasing a paid-for version that has extra features, [such as] the ability to synch directly with an iPod, more advanced scheduling capabilities and more options for how it records stations,” he added.Six hours’ workHe said that he built the first version of AmaRadio last week, in the space of about six hours. With the majority of South African computer users using various Microsoft operating systems, AmaRadio currently works only on various Windows platforms“If there is enough interest, we will look into building versions to support Mac and Linux, though this could be in several months’ time,” James said.Over the past three days, he said the product had received plenty of attention, mainly through several South African blog and technology enthusiast sites, and over 200 people had already downloaded the small piece of software.“I announced AmaRadio on my blog, and within 24 hours had received numerous e-mails from users who loved the product,” James said. “Not bad considering it was released three days ago, and we haven’t done any advertising!”SAinfo reporter Want to use this article in your publication or on your website?See: Using SAinfo materiallast_img read more

WikiLeaks Nominated for Nobel Peace Prize

first_imgaudrey watters Tags:#news#NYT#web A Web Developer’s New Best Friend is the AI Wai… WikiLeaks has been nominated for the 2011 Nobel Peace Prize, according to the Norwegian politician behind the proposal.The nomination of WikiLeaks was put forward by parliamentarian Snorre Valen, saying that the site was “one of the most important contributors to freedom of speech and transparency.”“By disclosing information about corruption, human rights abuses and war crimes, WikiLeaks is a natural contender for the Nobel Peace Prize,” Valen said.That statement, of course, contradicts the narrative that the U.S. government has been promoting – that WikiLeaks is a threat to international peace and security. And a nod from the Nobel Committee, if it does choose to honor WikiLeaks with the Peace Prize, would not only enflame Washington but would likely serve as the latest in a series of controversial awards, having given President Obama the Peace Prize in 2009 shortly after his inauguration and jailed Chinese pro-democracy activist Liu Xiaobo the award last year.Expanding the Definitions for Peace Prize NomineesAccording to Alfred Nobel, who established the prize in his will, the award should go to “the person who shall have done the most or the best work for fraternity between nations, the abolition or reduction of standing armies and for the holding and promotion of peace congresses.” The nomination of WikiLeaks is a nod to the expanding definition of what constitutes “peace” for the Prize Committee. It’s clearly not just the absence of war, but a more complicated definition that includes human rights activism, for example. But it’s also notable that it isn’t Julian Assange, the founder of WikiLeaks, who has been nominated, but rather the site itself. That’s an indication not just of the importance of the whistleblower website itself, but also of the role of the Internet in social change and social justice movements – as tools for communication, collaboration, and mobilization.The Nobel Committee accepts nominations from members of all national parliaments, professors of law or political science, and previous winners. It declined to comment on the WikiLeaks nomination or on any of the other proposals it received. The 2011 Nobel Peace Prize winner will be announced in October. Top Reasons to Go With Managed WordPress Hostingcenter_img Related Posts Why Tech Companies Need Simpler Terms of Servic… 8 Best WordPress Hosting Solutions on the Marketlast_img read more

How AI Helps Secure Your Finances and Other Stuff on Mobile

first_imgWhy IoT Apps are Eating Device Interfaces Modern smart gadgets and mobiles are made for your convenience. They are loaded with features even when you have not installed the applications. This article will take you to explore your smartphone in a better way and make the best use of it.How AI helps secure your finances and other stuff on mobile is essential. AI: How it’s Impacting Surveillance Data Storage Identify songs instantlyYou can try apps like sound hound to know the song you are listening to, but you don’t really have to. It’s because Google Now, Cortana and Siri can answer your voice command “what song is this?” Divyesh is working as platform like React, cross platform and Mobile app development company at Nexmobility. Use AI technology smartly to secure your financeIf you are using your mobile and have installed several financial apps that include your wallet/ bank account, or money manager/expense manager app. everyone understands and knows that these apps need exclusive security access to avoid unwanted sneaks. Most of these apps are intended with Face ID and passcode or fingerprint access of the user. If you have installed these apps, you can unlock the app using any of these available accessing options.If your phone doesn’t have such feature, you can install a third-party app like Norton app lock or app-lock by Do-Mobile lab to lock your apps. What it Takes to Build a Highly Secure FinTech … Role of Mobile App Analytics In-App Engagement These tips will make you smarter among people who still don’t have an idea about these features in their smartphone. Don’t forget to use them in front of them and let them wonder why they haven’t used them yet. Tags:#AI#Finance#Mobile Games Block the internet for an ad-free experienceBoth the iOS store and android store include thousands of free gaming apps. While most of these apps are also riddled with ads, and if you get overwhelmed with these ads, you can restrict internet access to it. Just disconnect Wi-Fi or mobile data or change app setting. iOS users can navigate to settings and find the app, tap, and disable mobile data access. Android users can find data usage in-app and disable Wi-Fi and data access. Manage SMS betterIf you are tired of receiving spam messages on your phone, you have the ability to control that spam from your smartphone. You just need to replace your stock SMS app with something like Microsoft’s SMS organizer and your spam messages will be filtered.We can even avail other useful features like- option to view your bank account balance/wallets, check train/flight status, set reminders within the app, and voice-based typing. You can create a backup of your messages to the Google drive and access them later from a different device by login to your account.Get only important call alertsEvery smartphone has “do not disturb” setting, and most of us have hardly used it. By using the DND feature, you can still answer your essential calls without putting your phone on silent. DND switches off alerts for all the apps and incoming calls- except the “starred contacts” call on the smartphone.You need to navigate to settings and click on alert slider and choose do not disturb. You can customize DND setting as per your requirement. Prepare a list of your contacts that always make your smartphone ring even if it is on DND mode. Control your computer using your phone.Apps like Spotify to YouTube are intended with some sort of remote control functionality. If you want to control your PC or laptop, try Unified Remote and Alfred and similar. Snap photos using volume buttonsSometimes you can’t click through the real picture taking button while taking the photo. If you are using a smartphone, you can click photos using the volume buttons while within the camera app. Divyesh Dharaiya Search for settingsAndroid and IOS users can search for any phone setting by looking into search options at the top of the Settings app. Related Posts last_img read more