Thames Valley losing its tech appeal

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Govt reopens migrant worker placement to boost economy amid pandemic

first_imgThe Manpower Ministry has announced that it will reopen recruitment and placement of Indonesian migrant workers in a bid to strengthen the country’s economy amid the COVID-19 pandemic.On March 20, the ministry issued a regulation to temporarily halt the placement of migrant workers in foreign countries due to COVID-19 pandemic. A new ministerial regulation, issued on July 29, lifts the restriction.“To accelerate the recovery of the national economy and seeing that several countries have also reopened to foreign workers, it is necessary for us to also reopen the opportunity for our migrant workers to work in destination countries,” Manpower Minister Ida Fauziyah said on Thursday as quoted by kompas.com. Ida said 88,973 migrant workers were ready to be sent abroad to 14 countries, namely Algeria, Australia, Hong Kong, South Korea, Kuwait, Maldives, Nigeria, United Arab Emirates, Poland, Qatar, Taiwan, Turkey, Zambia and Zimbabwe.“The potential remittances from the migrant workers is quite large and is expected to boost the economic recovery,” she said.Ida added that the government and state-owned lender Bank Negara Indonesia (BNI) would bear the costs of COVID-19 tests for the migrant workers.“I have already met with the coordinating human development and cultural affairs minister as well as the health minister to allocate some funds from the COVID-19 task force, so that migrant workers will not be burdened by the fees to meet the health protocol requirements,” she said.According to data from the ministry’s Indonesian Migrant Workers Protection Agency (BP2MI), as many as 3,742,440 Indonesian migrant workers abroad sent home a total of Rp 160 trillion (US$10.9 billion) in remittances in 2019. (trn)Topics :last_img read more

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Governor Wolf Rejects Republican Plan to Cut Education; Releases Emergency Funding

first_img Budget News,  Press Release,  Schools That Teach Harrisburg, PA – Governor Tom Wolf today rejected the Republican budget that cuts $95 million from education and is out-of-balance, while directing emergency funding for key services. Last week, Republican leaders walked away from a historic bipartisan budget agreement and passed an irresponsible budget so they could return home to their districts and take holiday vacations.“I’m vetoing the Republican plan to cut $95 million from education, and I’m also vetoing other items that they don’t pay for,” said Governor Wolf. “I’m calling on our legislators to get back to Harrisburg – back to the work they left unfinished last week. At the same time, I’m allowing emergency funding for our schools to get out. I’m also letting funding go out to our human service agencies and to our counties. But this is on an emergency basis only.”“In doing this, I’m expressing the outrage that all of us should feel about the garbage the Republican legislative leaders have tried to dump on us. This budget is wrong for Pennsylvania. And our legislators – the folks we elected to serve us – need to own up to this. They need to do their jobs. This budget is wrong for so many reasons, but especially because it does not balance, increases our deficit and fails to invest in our schools and our future.”Governor Wolf vetoed parts of the budget because Republicans did not pay for their spending and to ensure a more responsible budget, but he is taking action to ensure that schools receive money owed to them through December 31. Governor Wolf limited emergency funding to a half-year appropriation (based on the agreed-to bipartisan budget) for basic education funding, state corrections institutions and medical assistance capitation. In total, the governor released more than $23.3 billion in funding.Further, the governor rejected the legislature’s desired increases for their own funding and instead reverted their appropriations to flat funding from the previous year. Community colleges, state system institutions and other higher education lines are also limited to flat-funding from the previous year. The legislature left for vacation without passing appropriations bills for state-related universities, Penn State, University of Pittsburgh, Lincoln University, Temple University, and the Penn School of Veterinary Science, and other “non-preferred” institutions.Rejecting More Cuts to SchoolsThe Republican budget underfunds education and uses gimmicks that will actually lead to a $95 million cut in funding for our schools. Republicans continue to refuse to adequately fund Pre-K through 12 education and their budget fails to fund $305 million in school construction reimbursements. Instead, they claim to pay for school construction by issuing billions in new debt. However, since the Republican budget fails to take any meaningful steps to fix Pennsylvania’s structural budget deficit – which has already led to five credit downgrades – the commonwealth will be unable to responsibly issue any debt to cover school construction reimbursements this year and likely into the future.The Republican’s failure to provide school construction funding to local school districts and the commonwealth’s inability to responsibly issue debt will lead to a direct cost to the school districts, which will wipe out any marginal funding increases for local school districts. This means that their budget is an effective $95 million cut to school districts after years of cuts under previous Republican budgets.The Republican budget continues the trend of not only underfunding our schools but also fiscal irresponsibility that have led to massive structural deficits and multiple credit downgrades. Now, those decisions will have a direct impact on our ability to pay our bills and issue debt.To view the general fund tracking run, click here.Rejecting Status Quo Fiscal IrresponsibilityAs Governor Wolf has warned for months, Pennsylvania is facing a massive structural budget deficit as a result of years of Republican budgets that were out of balance. This multi-billion dollar deficit cannot simply be wished away. The Republican budget is not balanced and will grow the commonwealth’s multi-billion dollar deficit.This budget spends $30.3 billion dollars without sufficient revenues to pay for it. Assuming that we would certify the current year revenue estimate at the amount recommended by the Independent Fiscal Office earlier this month, if the governor signed this bill, the commonwealth would end the year over a half a billion dollars out of balance with a structural deficit of over $2.3 billion.While Republicans may claim that they have finished the job, they have not. They have not paid for the budget they passed, which would further increase our deficit that stood at $2.3 billion earlier this year. Governor Wolf Rejects Republican Plan to Cut Education; Releases Emergency Funding December 29, 2015 Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolfWatch Governor Wolf’s remarks on rejecting the Republican plan to cut education (and read the transcript of the remarks).Check out the Twitter Collection of the announcement.BUDGET ANNOUNCEMENT 12/29 SHARE Email Facebook Twitterlast_img read more

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First residents move in to new coastal spot which is proving popular with buyers

first_imgSeabright met all expectations of buyers Kyle Martin and Morgan Wall.Priced from $449,000, Seabright’s three-and four-bedroom homes have open-plan living spaces connecting with a covered patio, kitchen with stone benches and stainless-steel appliances, a double lockup garage and Colorbond roofing. Some designs also include a multipurpose family room.Seabright is a short walk to the village amenities at Jacobs Well and the boat ramp. Villa World welcomes Seabright’s new residents including first-home buyers Morgan Wall and partner Kyle Martin.VILLA World has welcomed the first residents to its popular Seabright community at Jacobs Well as sales gather pace at the northern Gold Coast development.First-home buyers Morgan Wall and her partner Kyle Martin have just settled into their three-bedroom, two-bathroom home.Ms Wall said they were attracted to the peace and quiet of Jacobs Well and its proximity to the Gold Coast and Brisbane.She said Seabright’s offering had met all the couple’s expectations for their first home.“It was new and affordable while also being in a lovely waterside location that has easy access to the M1,” Ms Wall said. Their new home has two living areas and is on a 480sq m corner block.“We’ve always lived in coastal locations, which is why we love Seabright,” Ms Wall said.“And we are now closer to our workplaces at Logan and in the Brisbane CBD.”More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North9 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoSeabright at Jacobs Well.The couple will be meeting their new neighbours soon, with all homes in stage one now complete. Both the first and second stages of the 107-home community are now sold out and stage three is about to be released to the market.Villa World development manager Peter Johnson said Seabright was one of the company’s fastest-selling projects.“The response from buyers has been overwhelming and this has prompted us to bring on the third instalment of Seabright,” Mr Johnson said.last_img read more

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G20 pledges pipeline of infrastructure assets to lure institutional investors

first_imgIt added that work would be undertaken to develop infrastructure further as an asset class and increase the amount of financing available to markets.The document also committed G20 members to lowering barriers to investment, boosting the pipeline of projects ready for investment and helping pair up investors and projects.As part of the initiative, the G20 will launch an infrastructure hub based in Sydney to coordinate global governments’ efforts.Against expectations, the G20 also said it supported “strong and effective action” on climate change but did not include any specific wording on cultivating a low-carbon economy.This is despite a report tabled at the G20 finance ministers meeting advising countries on how to factor climate risk into both public and private investment.Australia’s prime minister, Tony Abbott, has previously expressed a desire for the annual meeting to focus solely on job creation measures and resisted attempts by other countries to include the issue of climate change on the agenda.Those in favour of the matter being discussed in Brisbane have pointed to the need for the largest economies to reach a compromise ahead of next year’s climate conference in Paris, which aims to agree new and binding carbon-reduction targets.The Institutional Investor Group on Climate Change (IIGCC), which earlier this year called on governments to create a regulatory environment conducive to low-carbon investments, last week called for the topic of climate change to be part of the G20 agenda in Brisbane.The organisation’s chief executive Stephanie Pfeifer said leaders of the world’s largest economies should seize the momentum building in the wake of the US government’s joint announcement with China to cut carbon emissions and emphasise the importance of a global agreement.“Politicians have said the focus of the G20 is jobs, growth and security,” Pfeifer said. “Tackling climate change by moving to a low-carbon economy provides an opportunity to deliver all three.“Global investors need strong political signals about the direction of travel on climate change in order to invest in low-carbon assets. World leaders should not waste the opportunity to send these signals this weekend.”The OECD will be holding a conference on long-term investment policy in Paris on 26 November The world’s largest economies are to ensure regulation is not preventing pension funds and other institutions from investing in infrastructure under an agreement signed at the G20 summit.The meeting, held on Brisbane, Australia, saw the heads of government agree to implement the OECD’s high-level principles of long-term investment financing, which said public funding should not “crowd out” private long-term capital.In a communiqué announcing the G20 global infrastructure initiative, world leaders said they would look to increase the transparency and functioning of securitisation markets, a goal of the European Commission to attract funding to small and medium-sized enterprises.“These actions will assist in our goal to attract increased private sector financing for infrastructure investment and for small and medium enterprises,” the agreement said.last_img read more

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AP7 successful in ‘London Whale’ class-action lawsuit

first_imgSweden’s AP7 fund and its co-lead plaintiffs have reached a $150m (€138m) settlement with JP Morgan Chase, ending a 2012 securities class action over the trading and risk management activities at the heart of what has become known as the London Whale trading scandal.AP7, the government-backed default option for the premium pension system in Sweden, was lead plaintiff alongside US public pension funds from the states of Arkansas, Ohio and Oregon.Together, they have agreed to settle the class action for $150m in cash.Richard Gröttheim, chief executive at AP7, who oversaw the litigation on behalf of the scheme, said: “The settlement represents an excellent recovery for the class after more than three years of litigation. “AP7’s involvement in this matter illustrates its continued commitment to represent the interests of investors.” The settlement marks the end of a six-month mediation process and years of litigation, including the court’s certification of a class of investors.The case was initially filed in a New York district court in July 2012.The lead plaintiffs were appointed a month later and in April 2013 filed the complaint on which the mediation was based.The complaint alleged JP Morgan violated federal securities law by making false and misleading statements about the activities of its CIO and the extent of the risk posed by the so-called London Whale trades within the CIO’s synthetic credit portfolio.The complaint claimed these ultimately caused damage to investors.Carried out by a trader called Bruno Iksil, nicknamed the London Whale because of the size of his positions, the trades led to more than $6bn in losses for the US investment bank and nearly $1bn in fines from US and UK regulators.The Ohio state joint-lead plaintiff was the Public Employees Retirement System (OPERS).One of Sweden’s five buffer funds, AP1, recently announced that it was stepping down as lead plaintiff in a consolidated lawsuit against practices in so-called dark pools.last_img read more

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Rugby league star Scott Prince puts price tag on Gold Coast house

first_imgThe house was built by the couple in 2012.The four-bedroom waterfront house offers a pool, waterfront entertainment area, open-plan design and city skyline and Hinterland views. The property was built in 2012 after the couple knocked down the original house, which they spent $1.3 million on in 2008. Rugby league legend Scott Prince and his wife Kristy are seeking more than $1.775 million for their home. Picture: Tara Croser. A price tag has been added to the listing of Scott Prince’s palace.RUGBY league legend Scott Prince has revealed his price hopes for his luxury Gold Coast house, which hit the market in May. The former Gold Coast Titans captain and wife Kristy were originally going to try their luck at auction but a price tag of more than $1.775 million has since been added to the listing. The Prince family are selling to buy two new properties.The pair are selling to buy two new properties, one in Brisbane and another on the Gold Coast, to better juggle their time and work commitments. Prince works with the Brisbane Broncos and their indigenous program, while his wife works on the Coast and their two daughters attend school locally. “The girls love the school and we don’t want to uproot them and of course we all love the Gold Coast lifestyle,” Prince said when the property was listed last month. “This literally was our dream home that we designed and built with Adenbrook Homes — I am sure it will easily become someone else’s dream home.“Being on the water is what the Gold Coast is all about, it’s a great family home and also a great spot for entertaining.”Prince’s long rugby career included stints with the North Queensland Cowboys, Brisbane Broncos, West Tigers, Gold Coast Titans, indigenous All Stars and the QLD State of Origin Maroons. While Prince won’t be taking the field for the highly-anticipated clash, he is still involved heavily with the team. “Go Queensland!,” Mr Euler said. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:50Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:50 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, 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 Rate1xFullscreenNRL stars tackling the property game00:50 MORE NEWS: Gold Coast records biggest drop in sales activity across Queensland The waterfront home at 6 Garden Grove, Carrara.Scott Euler of @realty, who is marketing the house at 6 Garden Grove, Carrara, with Nicola Buchanan, said Prince had been flat out in the lead up to tonight’s State of Origin game. “Due to Scott’s business and football commitments it meant he was going to be away this weekend for the auction so we felt it was best to put it back to a private treaty,” Mr Euler said. “We have had a great mix of buyers, both local and interstate, show some interest and there are positive signs post-election, which is great for the real estate industry.“There’s a mix of young families wanting it for that space it offers with the 1424sq m block and, the jewel of the crown, the 22m water frontage.More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago“And surprisingly some older buyers too … appreciating the low-set position that it offers opposed to having stairs.” MORE NEWS: Qld wins the ‘Real Estate of Origin’last_img read more

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Statoil Gets Green Light for Heidrun Pipeline Works

first_imgStatoil has been granted consent by Petroleum Safety Authority (PSA) Norway to use a replacement pipeline between Heidrun and subsea structure E on the Heidrun field.The replacement of the Heidrun P-E pipeline is part of a project to develop and extend the life of Heidrun Nordflanken by 20 years.The new pipeline will be installed in May/June 2018, and anticipated start-up is between July and September 2018.Heidrun is a field on Haltenbanken in the Norwegian Sea, 30 kilometers north-east of Åsgard. The PDO for Heidrun Nordflanken was approved in 2000. The northern part of the field has been developed using subsea facilities.last_img read more

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‘Pusher’ falls in drug bust

first_imgThe 49-year-oldCesar Dice was nabbed in a drug buy-bust operation in Barangay Intampilan,Panit-an, Capiz. Dice – residentof Barangay Timpas, Panit-an – was nabbed after he sold a sachet of suspectshabu to an undercover officer for P500 around 12:30 p.m. on Jan. 29, policesaid. Police alsoimpounded his motorcycle. The suspect was detained in the lockup cell of thePanit-an municipal police station. ILOILO City –He allegedly sold illegal drugs. When frisked,nine more sachets of suspected shabu were recovered from Dice. Charges for violation of Republic Act9165, or the Comprehensive Dangerous Drugs Act of 2002 will be filed againstthem./PNlast_img read more

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