Saudi hosts G20 financial leaders amid coronavirus alarm

first_imgGeorgieva said the economic impact could see a “V-shaped” trajectory, with a sharp decline in China’s GDP followed by a sharp recovery.She warned the situation could have more dire consequences for other countries as the impacts spill over.The virus has now claimed 2,345 lives in China, cutting off transportation and forcing businesses to close their doors.China has said it will not be sending any leaders from Beijing for the Riyadh gathering but the Chinese ambassador in the kingdom will instead lead a small delegation.”We have been closely watching the developments of the virus and assessing its potential effects on economic growth,” a senior US Treasury official told reporters.”We expect ministers and governors will discuss the global economic outlook, particularly as it relates to the coronavirus outbreak.”The G20 organizers will also host a ministerial-level symposium on international taxation on Saturday, focused on the challenges arising from the digitalization of the global economy.The symposium will be attended by US Treasury Secretary Steven Mnuchin along with a host of other financial leaders.The Saudi presidency will see it host world leaders for a summit in Riyadh from  November 21 to 22.It will hold more than 100 events and conferences in the run-up to the summit, including ministerial meetings, organizers say.Human rights groups have urged G20 member states to exert pressure on the kingdom over its intensifying crackdown on dissent, which has seen women activists, journalists and political dissidents jailed. Finance ministers and central bank governors from G20 nations meet in the Saudi capital Saturday for a two-day gathering to discuss the global economy and the risks from the coronavirus epidemic.Aside from an action plan to shield the world economy from the impact of the outbreak, financial leaders from the world’s top 20 economies are also expected to discuss ways to achieve a fairer global taxation system for the digital era.”Finance ministers and central bank governors will discuss global economic outlook and possible policy responses to support growth and safeguard against downside risks,” G20 organizers said in a statement. “In addition, they will discuss the priorities of the Saudi G20 Presidency under the theme ‘realizing opportunities of the 21st century for all’… including the tax challenges arising from the digitalization of the economy.”The meeting in Saudi Arabia, the first Arab nation to hold the G20 presidency, will be chaired by the kingdom’s finance minister Mohammed al-Jadaan and central bank governor Ahmed al-Kholifey.The meeting comes amid growing alarm over the new coronavirus as Chinese authorities lock down millions of people to prevent the spread of the disease, with major knock-on effects for the global economy.The impact of the epidemic may be short-lived but it comes as the global economy remains “fragile”, IMF chief Kristalina Georgieva told a gathering in Riyadh on Friday.center_img Topics :last_img read more

Arsenal explain why William Saliba loan for French Cup final collapsed

first_img Metro Sport ReporterWednesday 1 Jul 2020 9:20 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link624Shares Comment Arsenal explain why William Saliba loan for French Cup final collapsed Advertisement Saliba was set to play in the French Cup final (Picture: Icon Sport via Getty)‘As William is returning from injury, we asked that St Etienne follow a clear training plan with William in close collaboration with us, to ensure he is fully fit for the start of next season.‘To our surprise we were unable to reach agreement to this plan which was proposed by our medical experts, and we are simply not prepared to risk the welfare of an Arsenal player. ‘While it was not our primary concern, and ultimately not relevant as our training plan was not accepted, we also expected not to be financially disadvantaged by extending the loan. This was also not acceptable to St Etienne.  ‘We know this is a disappointment for William but he understands we are working to protect his long-term interests and those of Arsenal.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalThe statement from St Etienne read: ‘AS Saint-Etienne was pleased to learn yesterday Tuesday that Mikel Arteta, Arsenal coach, was ready to leave William Saliba at the disposal of the club until the final of the Coupe de France, July 24.‘William Saliba had been training for several days with Claude Puel’s group and was obviously very enthusiastic about the idea of ​​finishing his course in Green with such a match.‘Alas, ASSE, which simply wanted the extension of the initial loan until July 24, could not find an agreement in the evening with Arsenal to allow the defender to properly prepare and play this meeting, the English club imposing absolutely unacceptable sports and financial conditions.’ Advertisement Saliba will not play in the French Cup final (Picture: Getty)Arsenal have given their explanation for the collapse of William Saliba’s loan extension, revealing that Saint-Etienne refused to follow their training programme. St Etienne released a statement attacking the Gunners for their ‘unacceptable’ demands to allow Saliba to play in the French Cup final later this month. Saliba has been on loan at the Ligue 1 side this season and was hoping to turn out for Claude Puel’s side against Paris Saint-Germain in the final of the Coupe de France on July 24.But after a deal collapsed to allow him to participate and St Etienne put out a public attack on the north London club, Arsenal have responded with their own clarification.AdvertisementAdvertisementADVERTISEMENT‘Throughout our discussions with St Etienne, our aim has been to protect the welfare of William Saliba as well as the interests of Arsenal Football Club, while honouring the terms of the loan,’ a statement read. ‘Despite the loan ending on June 30, we were willing to find a way for William to play in the [French] cup final on July 24, despite having no contractual obligation to do so. last_img read more

Romania’s second-pillar pensions to become voluntary

first_imgIn June, newly appointed finance minister Ionuţ Mişa announced that the mandatory system would be abolished, then retracted his statement a few hours later by claiming there was some “confusion”.In mid-August the prime minister stated that the system, which the government claimed produced a lower return than that from the first pillar, was up for review, with options including cutting the 5.1% contribution rate to 2.5%, or even 1%.Another proposal, abolishing the 2.5% management fee charged by pension management companies would push them into the red, according to the Romanian Pension Funds Association (APAPR).According to the 2008 law that established the second pillar, the contribution rate was due to have risen to 6% by 2016.However, last year the rate was increased from 5% by a meagre 0.1 percentage point, and has remained unchanged in 2017.Both the European Commission and International Monetary Fund have criticised successive governments’ backsliding on the contribution rate, partly because of Romania’s poor demographic outlook.As a result of the shrinking labour force the dependency ratio is projected to rise from 1:1.3 in 2014 to 1:2.5 by 2032.As of the end of July, according to the FSA, the second pillar had 6.93m members and assets under management of RON37.2bn (€8.1bn), of which around 93% is invested domestically.According to the APAPR the pension funds hold around 14% of Romanian government bonds, making them the second biggest investor after banks.In the case of Bucharest Stock Exchange equity, second-pillar funds rank as the single biggest investor, accounting for 10-15% of turnover.In response to the latest announcement, the APAPR stated that the second pillar remained the best means of ensuring the highest pensions for the workforce, especially those on lower wages, and called for the prime minister to consult with the relevant actors. Romania’s mandatory second-pillar system is to become voluntary as of 2018, according to the country’s prime minister.In an interview on 7 September with television station Digi24, Mihai Tudose did not specify whether second-pillar members would have to opt in or out of the second pillar, but he said the government would advise members on what it considered the best route for them depending on their salary.He also emphasised that there was no question of the system being “nationalised”, a contentious term in Romanian financial politics. In April pensions regulator the Financial Supervision Authority (FSA) fined NN Pensii, the biggest of the second-pillar providers, while sanctioning and fining its then CEO, for informing its clients that the system was set to be nationalised.Tudose’s announcement follows months of speculation over the fate of the second pillar following the centre-left Social Democratic Party’s victory in the December 2016 elections.last_img read more

Brisbane housing market to be “back on the map” in 2019, analyst says

first_img8. Paddington 7.9% 4. Wilston 3.5% 8. Highgate Hill 2.1% Brisbane’s housing market is set to turn a corner in 2019, one analyst predicts. Image: AAP/Darren England.BRISBANE’S housing market is on the cusp of turning a corner after years of treading water, with 2019 set to put the Queensland capital “back on the map”.One of the city’s leading property analysts predicts next year will be a “gamechanger” for the residential sector, with rents set to rise, sales volumes to increase and unit supply to be eaten up.Ahead of a presentation to the Urban Development Institute of Australia today, Place Estate Agents residential research director Lachlan Walker has revealed the suburbs he believes will benefit the most from capital growth in the year ahead. RELATED: How to beat Brisbane’s median by $200k 6. Teneriffe 2.5% 10. New Farm 7.8% 6. Greenslopes 8.3% 10. East Brisbane 2% 4. Teneriffe 8.7% 3. Toowong 3.9% Mr Walker said Brisbane residential sales volumes had been declining year-on-year for the past four years, but that was about to change.“It’s been tough out there, but 2019 could see us turn around and put us back on the map,” Mr Walker said.“Six months ago, there was not a positive news story to be seen (about Brisbane’s housing market), but we’re back on the radar.“We’ve had 12-18 months of oversupply, but that’s getting soaked up, so expect rents to improve and vacancies to decline.” 5. Highgate Hill 8.3% CoreLogic capital city home value changes as of the week beginning November 12, 2018.It comes as Brisbane is leading the nation in all four property performance indicators, according to the latest figures from property researcher, CoreLogic.It was the only capital city to record an increase in home values over the past week, month, year-to-date and 12 months.More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agoWhile home values in the other mainland capital cities headed south, houses and units in Brisbane edged higher — defying the downturn gripping the country’s housing market.CAPITAL GROWTH FOR HOUSE RESALES IN 2018 Suburb Average annual capital growth rate1. East Brisbane 11.7% 9. Windsor 2%center_img 5. New Farm 2.8% 2. Fortitude Valley 11.3% 2. Hawthorne 4.2% 7. Albion 7.9% 7. St Lucia 2.1% 3. Coorparoo 9.8% 9. West End 7.8% (Source: Place Estate Agents)CAPITAL GROWTH FOR APARTMENT RESALES IN 2018 Suburb Average annual capital growth rate1. Herston 4.5% The site of the Queen’s Wharf development in Brisbane’s CBD.“These are gamechangers for Brisbane and I think we’ll see huge amounts of growth in those regions,” he said.“Areas like Woolloongabba through to Coorparoo will come into its own.“And areas like Albion will see some stronger growth.“Generally, I think the east and west corridors will remain strong and the higher end suburbs on the river in the west will continue to perform — it is pure, owner-occupier, high quality stock.” MORE: Inside Brisbane’s grandest homes Lachlan Walker, residential research director for Place Estate Agents.Mr Walker said the city’s relative affordability compared to other capital cities, low unemployment rate and pipeline of infrastructure projects were also working in Brisbane’s favour.“All those things indicate things are going to start to improve over the next 12 months,” he said.“A lot of commentators had been suggesting Brisbane would see huge price falls — that hasn’t happened.“We haven’t seen any real price change, apart from a slight increase in houses, and units haven’t collapsed — we’re pretty resilient.”With projects such as the $3.6 billion Queens Wharf development, the Howard Smith Wharf precinct and Cross River Rail in the pipeline, suburbs in the vicinity are set to benefit in 2019, according to Mr Walker. Over the past 12 months, the best suburbs for capital growth for houses were East Brisbane, Coorparoo, Teneriffe, West End, New Farm, Greenslopes and Albion.Among the worst performers were St Lucia, Kelvin Grove, Newmarket and Windsor.The top performing suburbs for unit capital growth in 2018 included Hawthorne, Toowong, New Farm, Teneriffe and St Lucia.Suburbs where there had been a significant increase in new apartments scored the worst for capital growth over the past year, such as Bowen Hills, Dutton Park, Woolloongabba and West End. (Source: Place Estate Agents)last_img read more

Firms team up to develop first LNG-fueled shallow-draft pushboat design

first_imgRApide 2800-G LNG pushboat; Image courtesy of Robert AllanConsulting naval architectural firm Robert Allan and engine manufacturer MTU Friedrichshafen have developed the first LNG-fueled shallow-draft pushboat design.Robert Allan said that the vessel was based on the shallow-draft RApide 2800-Z2 pushboat that currently operates on the Amazon river system.The vessel design template was modified to suit a complete LNG propulsion system with two 746 kW MTU 8V4000M55R-N Tier III gas safe main engines. The new LNG pushboat design is named RApide 2800-G.Apart from the engines, MTU also acts as the system integrator, which means that MTU will also provide an LNG tank system and an integrated ship monitoring, LNG control, and safety systems.While keeping the existing hull shape, the design was reconfigured to allow the installation of the LNG tank while still providing adequate space for other machinery and the crew.The lower crew cabins, mess, and galley moved up a deck, and the deckhouse was enlarged. To ensure redundancy, there are two independent tank connection spaces attached to the LNG tank, one for each engine.For continuous operation on a river system, the design accommodates a crew of 14, with master and chief engineer having single cabins and double cabins for the balance of the crew.According to the company, natural gas is quickly becoming the “fuel of choice” for the maritime industry, not only for its potential in reducing environmentally hazardous gas emissions but also for its reduced cost when compared to other fossil fuel-based alternatives.<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span><span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span>last_img read more

Kiwi binge drinking condemned by Presbyterian Church

first_img3News 18 July 2015The Presbyterian Church has made a public statement condemning New Zealand’s binge-drinking culture and calling for effective government policies to combat it.Moderator of the Presbyterian Church, the Right Rev Andrew Norton, says the church isn’t against alcohol and the community must play a role in providing alcohol-free activities for young people.But he says the drinking age should to be increased to 20 and effective government policies that reduce the availability of alcohol are needed.Council by-laws that address alcohol consumption are also important.“A big part of the problem is that binge drinking has become normalised in New Zealand,” he said in a statement. read more

Coutinho heads back to Barca after Bayern loan spell

first_img Promoted ContentTop 9 Scariest Haunted Castles In Europe11 Movies That Changed The Way We Think Of CGI Forever8 Superfoods For Growing Hair Back And Stimulating Its GrowthBest & Worst Celebrity Endorsed Games Ever MadeThese Are The Best Stargazing Locations You Can Find On EarthDid You Notice How Natural Simba’s Movements Looked In The Movie?8 Shows That Went From “Funny” To “Why Am I Watching This”10 Hyper-Realistic 3D Street Art By OdeithWho Is The Most Powerful Woman On Earth?Which Country Is The Most Romantic In The World?Insane 3D Spraying Skills Turn In Incredible Street ArtThe Highest Paid Football Players In The World Bayern Munich formally bid farewell to Brazil playmaker Philippe Coutinho on Wednesday after his year-long loan deal from Barcelona expired with the newly-crowned European champions declining, as expected, to sign him permanently.Advertisement Loading… “With his creativity and excellent technique, he livened up our game in this triple-winning season,” said Bayern chairman Karl-Heinz Rummenigge, who made it clear last month they would not bring Coutinho to Munich permanently.center_img Read Also: JUST-IN: Lionel Messi could stay at Barcelona until 2021“Making any further investments of this magnitude in these difficult economic times… are also difficult for us,” Rummenigge said in mid-August.However, Coutinho seems to have a future in Barcelona. New head coach Ronald Koeman reportedly phoned him on Monday to assure the Brazilian he is part of his planning for the coming season.FacebookTwitterWhatsAppEmail分享 The 28-year-old rebooted his career in Bavaria after a frustrating period in Barcelona following his high-profile transfer from Liverpool in 2018.Coutinho netted 11 goals, creating nine more, in 38 games for Bayern, including scoring twice in the 8-2 mauling the Germans handed his club Barcelona in the jaw-dropping Champions League quarter-final.He also came on as a second-half replacement in Bayern’s 1-0 win over Paris Saint-Germain in the Lisbon final. Coutinho struggled to make the starting side in Munich once Bayern head coach Hansi Flick replaced Niko Kovac last November, preferring Thomas Mueller in the attacking midfield role at the Brazilian’s expense.Having paid 8.5 million euros ($10 million) to have Coutinho on loan, Bayern opted not to use the buy option of 120 million euros.last_img read more

Top-Ranked Argonauts Fall in Conference Final

first_img Share Top-Ranked Argonauts Fall in Conference Final April 22, 2007ARKADELPHIA, Ark. – Playing without Gulf South Conference Player of the Year Diego Zorzi (Buenos Aires, Argentina), top-ranked West Florida fell short in their quest for a three-peat at the Carpet One/GSC Championships. Fifth-ranked Valdosta State (13-5) defeated West Florida (23-3), 5-2 to claim their sixth GSC Championship.Valdosta State avenged a regular season loss in February to the Argonauts. West Florida also won the previous two conference titles with wins in the championship match over Valdosta State.Valdosta State opened the match by winning two of the three doubles matches. It was the first time this season that West Florida had failed to win at least two doubles matches. Dante Bottini (Buenos Aires, Argentina) won for the Argonauts in the first position, but Valdosta State was victorious in singles in the third, fourth and sixth positions to claim the championship title.West Florida will advance to the NCAA Division II South Region Tournament on May 3-4. The Argonauts are currently ranked first in the south region and are expected to host one of two tournaments in the south region. Seedings will be announced on Wednesday.RESULTS#1 Singles: #6 Dante Bottini (UWF) def. Michael Andreo (VSU), 6-3, 6-1#2 Singles: #38 Nicolas Barrientos (UWF) vs. Joerg Ekkenga (VSU), unfinished#3 Singles: Thomas Provost (VSU) def. Eduardo Cavasotti (UWF), 4-6, 6-0, 6-2#4 Singles: Leos Jelinek (VSU) def. Luis Arboleda (UWF), 6-4, 6-3#5 Singles: Luiz Bernardi (UWF) vs. Benjamin Cattan (VSU), unfinished#6 Singles: Nikolas Overkemping (VSU) def. Mark McGuigan (UWF), 7-5, 6-4#1 Doubles: D. Bottini/N. Barrientos (UWF) def. Dominik Hansen/L. Jelinek (VSU), 8-3#2 Doubles: J. Ekkenga/N. Overkemping (VSU) def. E. Cavasotti/L. Bernardi (VSU), 8-5#3 Doubles: M. Andreo/T. Provost (VSU) def. L. Arboleda/Vivian Chhetri (UWF), 8-6<>Print Friendly Versionlast_img read more

Hughes: We are still going strong

first_imgStoke boss Mark Hughes revelled in the Potters silencing their critics both on the pitch and in the stands during Saturday”s victory over Southampton. Hughes revealed earlier this week that Stoke’s chances of qualifying for Europe via the Fair Play League were being harmed because their fans regularly sing Tom Jones’ 1968 hit ‘Delilah’. The Stoke manager said UEFA did not take kindly to the chanting of the song as it apparently created an intimidating atmosphere at the Britannia Stadium. The Stoke supporters defied UEFA and belted out the chant on Saturday and their team also upset the odds by beating one of the top teams in the league. Morgan Schneiderlin put Saints ahead in the first half, but Stoke hit back through Mame Diouf after the break and Charlie Adam completed a 2-1 victory with his volley six minutes from time. Hughes had once again defied the critics who said Stoke’s season was set to fizzle away into nothing. “I think people felt Southampton were the team that had most to play for, that’s not what we felt within the club,” the Stoke manager said. “We lost three games and drew one of the last four, but we saw again today we have a real resolve and determination to finish the season off strongly. “We have matched the most wins in the Premier League by a Stoke team. We talked about that before the game. “We have another home game to come so we will look to exceed the figure for the season. “We have goals and targets we’ve talked about for a long time and they are very much on so we are really excited by where we are.” Just like his boss, Adam has spent much time over the last few years fending off accusations that he is nothing but a brute. He went some way to answering those critics with a stunning 65-yard goal against Chelsea. And he showed superb quality to nip the ball away from Sadio Mane and fired a powerful volley past Kelvin Davis for the winner on Saturday. Hughes has been disappointed Adam’s efforts over the last few weeks have not been lauded by the critics. “Maybe Charlie has not had the credit he deserves,” Hughes said. “But I’m sure when he is sitting by his log fire with his slippers on when he’s as old and as grey as me he will be able to enjoy that time and time again.” Davis had handed Stoke their equaliser on a plate when he misjudged the flight of Steven Nzonzi’s shot, which smacked off the angle and fell straight to Mame Diouf, who swept in from close range. Saints boss Ronald Koeman refused to castigate his 38-year-old goalkeeper though. “I call it unlucky,” the Dutchman said. “I will have to watch it back. I don’t know if it was a cross or a shot, and maybe the wind was part of the difficulty for Kelvin.” Koeman cut a disappointed figure after the match, knowing that Southampton’s Champions League hopes had taken a huge blow. Hughes was the polar opposite. He chortled when asked whether he had bought Jones’ greatest hits CD for his car in light of the revelations from UEFA. “It’s on loop,” he said with a smile. Press Associationlast_img read more

Taylor still hungry for titles

first_img The 28-year-old won an action-packed bout with Bulgaria’s Denitsa Eliseeva to move into the last eight and insisted despite five world titles and an Olympic crown she has plenty of motivation to extend her reign. Taylor said: “I’m hungrier than ever – I want to leave a great legacy and continue to win every major championships and I think it’s always great to have new challenges. “I think I have a lot to prove to the young boxers and I am looking to stamp my authority on them. It’s great to see so many young female boxers coming through and the talent out there is outstanding.” Taylor showed no ill effects from a recent wrist injury as she calmly picked off the veteran Eliseeva, who set a furious pace in a vain attempt to derail the Bray fighter in the early stages. But Taylor’s sharpness saw her catch the eye of the judges in all four of the rounds to set up a last eight meeting with Ida Lundblad of Sweden. Taylor added: “I’m nervous before every fight but I think those nerves are important. The pressure in every competition is the same and the first fight is always hard but I think you’ll see I’ll be a lot sharper next time.” Ireland light-welterweight Dean Walsh also advanced to the quarter-finals after coming on strong in the later part of the contest to edge out Russia’s Maxim Dadashev via split decision. Katie Taylor pronounced herself “hungrier than ever” to maintain her dominance at the top of the women’s world lightweight division after making a successful start at the European Games in Baku on Sunday.center_img Press Associationlast_img read more