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Ambachtsheer said a “rough estimate” was that such agency problems were lowering long-term returns by 1.5% per annum and questioned how these foregone returns would be captured.“Institutional investors around the globe, led by the pension fund sector, are well-placed to play a ‘lead wagon’ fiduciary role in driving those agency costs down by focusing the capital at their disposal on the long term,” he said.The academic said such an approach would both “foster good citizenship” and boost returns for long-term investors.In a survey conducted for the Rotman Institute, covering 81 pension fund chief executives with assets of CAD4trn (€2.2trn), respondents noted that external managers were “not really aligned with [an investor’s long-term] investing aspirations”.“While our organisation is ‘on board’ with LT investing conceptually, we are struggling to build a new monitoring and guidance framework,” a second respondent added.A third added that “material” regulatory constraints were holding back its attempts to be long-term investors.The view is shared by the Institutional Investors Group on Climate Change, which has called for a stable regulatory framework to foster long-term investment, including capital commitments to the energy market.“The not-so-good news is that the governance functions of pension organisations are generally still not at the quality level they should be, and there is still a material aspiration/implementation gap in the design and management of long-horizon investment programs,” Ambachtsheer said.Referring to the work in his letter and an upcoming academic paper on the topic, he added: “The silver lining is that neither of these challenges can be addressed without their being first clearly defined and understood.” Pension funds must play their part in driving down the costs of deploying long-term capital, a matter that is reducing the return on investment, according to Keith Ambachtsheer.In the latest Ambachtsheer letter, the director emeritus of the Rotman International Centre for Pension Management extolled the virtue of long-term investing, noting that if humanity had been unable to take a long-term view, it “would still be in subsistence societies of hunters and gatherers”.He said that, even now, there was still “better tomorrows” to be had for those investing for the long term.“But now we live in far more complex societies that suffer from ‘principal/agent’ problems in all three of its important functional dimensions: political, commercial and financial,” he said.
NewsRegional IMF growth projections for Caribbean increase by: – July 17, 2012 Tweet Share Share 11 Views no discussions Share Sharing is caring! GEORGETOWN, Guyana (GINA) — The World Economic and Financial Survey 2012 from the International Monetary Fund indicates that global growth has increased to 3.6 percent (seasonally adjusted annual rate) in the first quarter of 2012. The IMF report released on Monday said the surprising upside is that growth has moved up by quarter percentage point compared with the forecasts presented in the April 2012 World Economic Outlook. The growth projections for Latin America and the Caribbean in April 2012 stood at 3.4% for 2012 and 4.2% for 2013. However, the new projections from the IMF states that growth for the region now stands at 3.5% for 2012 and 5.1% for 2013.The IMF also noted that the upward movement was partly due to temporary factors, among them easing financial conditions and recovering confidence in response to the European Central Bank’s (ECB’s) longer-term refinancing operations (LTROs).However, growth in a number of major emerging market economies has been lower than forecast. Partly because of a somewhat better-than-expected first quarter, the revised baseline projections in this WEO Update suggest that these developments will only result in a minor setback to the global outlook, with global growth at 3.5 percent in 2012 and 3.9 percent in 2013, marginally lower than in the April 2012 World Economic Outlook, the report stated. These forecasts, according to the IMF, clearly show that downside risks continue to reflect risks of delayed or insufficient policy action. Pointing out that measures announced at the European Union (EU) leaders’ summit in June are steps in the right direction, the IMF has warned that at timely implementation of these measures, together with further progress on banking and fiscal union, must be a priority. Guyana recorded 5.4 percent growth in 2011 and the projected 4.1 percent for 2012 are clear indications of government’s resilience towards promoting the development of a more diversified productive base.An IMF regional international outlook identified Guyana among the resource exporting countries of the Caribbean, and by extension, the most outstanding economic performer of recent years.In reports from the Caribbean Development Bank (CDB) Guyana was again acclaimed as one of the principal drivers of growth in the Caribbean.Global growth weak through 2012The baseline projections in the latest update incorporate weaker growth through much of the second half of 2012 in both advanced and key emerging market economies, reflecting the setbacks to the global recovery. The projections assume that financial conditions that policymakers will follow up on the positive decisions agreed upon at the June EU leaders’ summit and will take action as needed if conditions deteriorate further.In view of a stronger-than-expected first quarter outcome, weaker global growth in the second half of 2012 will primarily affect annual growth in 2013 through base effects.In the near term, activity in many emerging market economies is expected to be supported by the policy easing that began in late 2011 or early 2012 and, in net fuel importers, by lower oil prices, depending on the extent of the pass-through to domestic retail prices.Global consumer price inflation is projected to ease as demand softens and commodity prices recede. Overall, headline inflation is expected to slip from 4½ percent in the last quarter of 2011 to 3–3½ percent in 2012–13.The global recovery remains at riskAmong low-income countries, those dependent on aid, face risks of lower-than-expected budget support from advanced economies, while commodity exporters are vulnerable to further erosion of commodity prices.On the positive side, oil price risks have abated in recent months, reflecting the interaction of changes in prospective market conditions and perceived geopolitical risks.Supply conditions have improved due to increased production in Saudi Arabia and other key exporters, while demand prospects have weakened and are subject to downside risks. With geopolitical risks to oil supply widely perceived to have declined, risks to oil price projections appear more evenly balanced now, while those around prices of non-oil commodities tilt downward, the report stated.Caribbean News Now
Chelsea will try to sign a goalkeeper this summer because Frank Lampard is not convinced Kepa Arrizabalaga has a future as his long-term No 1 at Stamford Bridge. Several clubs in Spain have expressed an interest in signing Arrizabalaga but Chelsea want to get back as much of the world-record £71m they paid for him two years ago as possible. Chelsea are looking at a list of goalkeepers including Jan Oblak, Andre Onana and Nick Pope. Atletico Madrid have said that Oblak is not for sale so Chelsea would have to pay his £110m release clause to get him. Onana would be the cheaper option. He wants to move to the Premier League and Ajax will listen to offers.Advertisement Pope established himself as one of the best goalkeepers in the Premier League this season, keeping 15 clean sheets at Burnley. Lampard is expected to start Willy Caballero in goal for Saturday’s FA Cup final against Arsenal, after he replaced Arrizabalaga for the crucial final game of the season with Wolves. read also:‘We are not arrogant’ Klopp replies Lampard Caballero has started all of Chelsea’s FA Cup games this season except the 2-0 win against Liverpool in March. Chelsea conceded 54 goals in the Premier League this season, more than any other side in the top half of the table. FacebookTwitterWhatsAppEmail分享 Loading… Promoted Content14 Hilarious Comics Made By Women You Need To Follow Right NowPretty Awesome Shows That Just Got CanceledBirds Enjoy Living In A Gallery Space Created For ThemWorld’s Most Delicious Foods6 Ridiculous Health Myths That Are Actually TrueWhich Country Is The Most Romantic In The World?Couples Who Celebrated Their Union In A Unique, Unforgettable WayThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime10 Legendary Historical Movies You Should See5 Of The World’s Most Unique Theme Parks10 Risky Jobs Some Women Do
TNS’ position is a better one than that of Crusaders, though. The Northern Irish side were hammered 4-1 away to Albanian club Skenderbeu. Bakary Nimanga got the home side going (15) before veteran Hamdi Salihi added a second (34). Jordan Owens pulled a goal back three minutes after the half-time break, but Bernard Berisha made it three and Salihi made it two for the night. Press Association A second-half goal from Adam Gyurcso condemned TNS to a 1-0 home defeat in their Champions League qualifier with Videoton. The Welsh side held their own in the second qualifying round first leg, but were undone 13 minutes from time. Hungarian outfit Videoton will now fancy their chances of progressing through when the sides play out the second leg in a week’s time.
KAKO Cobras and Kamarang Tunnel Tigers were crowned male and female football champions respectively when the Upper Mazaruni District Games concluded on Sunday night in Jawalla Village in Region 7 (Cuyuni-Mazaruni).Both teams needled Paruima Village (male and female teams) 1-0 to lift the 2019 Upper Mazaruni District Cup trophies.On Saturday night, the home team, Jawalla Village, defeated Kaikan Village (male and female teams) to win both third place trophies.The females won 2-0 and the males 1-0.Fifteen villages took part in the football competition this year, including Jawalla, Waramadong, Chinoweing and Abou in Group A; Sanjuan, Quebanang, Phillipai and Arau in Group B; Kamarang, Kako, Isseneru and Wax Creek in Group C and Paruima, Imbaimadai, Kaikan and guest side, the District Sports Council 11 in Group D.The teams battled in three rounds before the quarter-finalists were decided.The 2019 Games, which started on August 4, attracted over 800 participants as the villages also competed in volleyball, cricket, archery, athletics, and table tennis.The aquatic competition was cancelled due to high water and strong current.Meanwhile, it was announced last weekend that Kako Village would be the host of the 2020 Games.
The dated cafeteria at the Sunshine Mission-Casa de Rosas, a nearby women’s shelter, turns out one hot meal per day for its residents — but rarely is that meal as bountiful as Wednesday’s Thanksgiving meal will be.For the second year in a row after a brief hiatus, USC occupational therapy graduate students will volunteer their time at the mission, located at the corner of Hoover Street and Adams Boulevard, to put on a Thanksgiving dinner for the residents. This year, 20 students will go to the shelter and about 20 others will be helping with the planning, funding and food — far more than last year.Ray of sunshine · Constance Hamilton works the reception desk at Sunshine Mission-Casa de Rosas. Hamilton also lives at the mission. – Dieuwertje Kast | Daily TrojanThe dinners used to be an annual occurrence, but were halted in 2004 because of issues with the mission’s director, residents say.“They used to do it in the past, but the lady that was before us, she didn’t want nobody to be here … So she kind of, like, pushed them away,” said Teryl Warren, a resident of the complex for 13 years.Last year, occupational therapy students decided to bring the tradition back. Celso Delgado, the previous program coordinator and current residential advisor for Centennial Apartments, a building specifically for graduate occupational therapy students, led the push to reinstate the dinner, and is leading the charge again this year.Delgado, now a doctoral student in the occupational therapy program, remembered the dinner from several years back and said he was surprised to learn that it hadn’t been put on since 2004.“I was a master’s student in occupational therapy back in 2005, and when I was, I was the RA for this building back then,” Delgado said. “It was traditional to have that dinner at the Sunshine Mission, and … whoever the RA was, one of their responsibilities was to run it.”About two weeks ago, Delgado began contacting his residents to gauge their interest in again putting on the annual Thanksgiving supper. After receiving an overwhelmingly positive response, Delgado began to delegate jobs to his residents.To finance the event, Delgado sought funds from multiple sources, including URSC, Graduate, Upperclassman and Family building government and the Graduate and Professional Student Senate.With the occupational therapy department donating four turkeys and most of the volunteers supplying one dish that they will prepare at home and bring to Casa de Rosas potluck-style, the Thanksgiving dinner is a collaborative effort.Chrissy Kim, a graduate student studying occupational therapy who will participate in the event, said she is excited to be involved and tried to get as many people involved as possible.“As the Community Service chair of the Graduate and Professional Student Senate and being an OT student, I tried to utilize my position to get as many graduate students of other disciplines involved into this great event,” Kim said. “Graduate students tend to stick to their discipline and are primarily involved in events hosted by their departments, but the community is best served by multi-disciplinary talents.”Yecica Robles, the mission’s manager, said she is grateful for the work of the occupational therapy students, as the mission would be unable to host the dinner otherwise.“The building is just going through hard times right now, financially,” Robles said.Robles said Sunshine Mission has seen all of its government funding cut in recent years. The mission now relies on donations and revenue generated from the $306 monthly rent that residents of the Casa de Rosas complex’s single-occupancy apartments are charged.Because of its limited funds, Sunshine Mission cannot currently afford to house any women in the upstairs portion of the main building. When times were better, women in need were offered accommodations for 30 to 90 days, allowing the women sufficient time to get back on their feet.Casa de Rosas, a 55-unit residential complex configured to resemble a motel, was built in 1893 and has been designated a Historical Landmark by the City of Los Angeles.The closely related Sunshine Mission has been operated from Casa de Rosas facilities since 1942, but its operations are distinct from Casa de Rosas’ in that the emergency housing and transitional living facilities Sunshine Mission provides to as many as 30 single homeless women are free of cost for up to 90 days.
Last Updated: 2nd January, 2020 23:06 IST World Title Triumph Was Unexpected Success: Humpy India’s newest world champion Koneru Humpy says it was a dream to win a world title but the triumph in the blitz format surprised even herself as she was always a contender in the classical format. Press Trust Of India COMMENT Written By LIVE TV WATCH US LIVE First Published: 2nd January, 2020 23:06 IST India’s newest world champion Koneru Humpy says it was a dream to win a world title but the triumph in the blitz format surprised even herself as she was always a contender in the classical format.Humpy capped 2019 in a stunning fashion since she made a comeback to the sport this year after starting a family.”This is my first world title. People were expecting me to become a world champion for a long and it really came unexpectedly. I was not favourite in the rapid tournament. I finished well in the final standings and it went into the tie-break,” Humpy told PTI after returning from Moscow.She had finished 12th in the blitz event that followed the triumph in a rapid format.The Vijayawada-based Humpy said she has unfinished business in winning the world title classical format and she will strive to achieve that.She had lost in the world championship final in classical format to Hou Yifan in 2011.”I was always the contender but I did not become the champion. I came close to it. I will continue playing and fighting for that. It will come when it has to. It is a totally different challenge for the classical world title. You need different types of skills for different formats. I will continue to give my best to realise that one big goal.”About being away from the game and what motivated her to make a comeback, the 32-year old, who has a two-year-old daughter, said she had never quit the sport.”I always wanted to come back and it was planned. Once she (my daughter) was born, I thought after she was one-year-old, I decided to start playing tournaments. But, of course, the first few tournaments were bad performance for me.”Obviously with a break, playing at a higher professional level, it is expected that it is not easy to succeed. From January onwards, I started doing well. I started off with Gibraltar and did pretty well there.”Her major victories were in the women’s Grand Prix in September in Russia and joint first finish at Monaco Grand Prix. She was also the best foreign player in the Chinese League, where she remained unbeaten.”Overall, I had a good performance in the year (2019) with a gain of 30 rating points in classical and around 45 points in rapid.”Humpy, who has won multiple world titles in the age-group events, said she would be playing the Grand Prix finals in May in Italy apart from various other tournaments.The Indian ace, who admires boxer Mary Kom and tennis legend Serena Williams for their stupendous performances after childbirth, said looking after her daughter while making comeback became easy with the help of her family.”My parents and in-laws stay in the same place. It is a 10-minute drive, so it is easy for me to send the baby to them while I am working. It is manageable, said Humpy, who was tipped to be a world champ by many including the legendary Viswanathan Anand.”Right now, it is time to enjoy this memorable win,” she signed off. SUBSCRIBE TO US FOLLOW US
Photo: © lionsrugby.com Peter O’Mahony will captain the British and Irish Lions rugby union team against the Maori All Blacks on Saturday.Fellow Ireland international Johnny Sexton starts ahead of England’s Owen Farrell at fly-half just a week before the first Test against New Zealand.In a 15 that head coach Warren Gatland’s previously said would be close to the one that’ll run out at Eden Park, England hooker Jamie George is also handed a start.
Liverpool’s first Premier League title in their history was confirmed on Thursday when Chelsea beat Man City 2-1 at Anfield.The Reds had beaten Crystal Palace the previous night to put themselves on the verge of clinching the title.It was sealed when the final whistle blew at Stamford Bridge, confirming Liverpool’s 19th top-flight title.Fans around the world waited eagerly for that whistle after Chelsea took a 2-1 lead, as apparently did the players.A video shared by BBC Sport showed Liverpool players in a celebratory mood as they counted down the seconds to the referee’s last blast.Although the countdown was anticlimactic, as the match went on past the added six minutes, the players were not perturbed as they waited with baited breath.The final whistle prompted screams of joy and some singing as the Anfield club became champions of England again.See the video below;