Norway SWF should be spun off from central bank, commission says

first_imgThe GPFG has doubled in size in the past five years as a result of the country’s revenue from its petroleum activities and investment returns. At the end of 2012 it had NOK3.8trn under management.Gjedrem said the two activities – central banking and investment management – differed in nature, and the scope of the tasks involved was substantial. “With two separate entities, the professional competence and the governing bodies can more easily be tailored to the task at hand,” he said.In the report it has presented to the ministry, the commission proposed that NBIM be set up as a separate statutory entity along the lines of the Folketrygdfondet, the manager of the GPFG’s smaller counterpart, the Government Pension Fund Norway (GPFN), which invests only in the Nordic region.The new entity should have a government-appointed board, the commission said. The Ministry of Finance would continue to define the fund’s investment mandate, and parliament would still approve important changes to that mandate.Gjedrem emphasised that the proposed separation had to be carried out “in a sound manner and must not in any other respect affect the framework for the fund”.Fund split ruled outThe commission cautioned against dividing GPFG into several entities, arguing this would entail extra costs and management challenges.The ministry said: “It is not meaningful in this case to create competition between government-controlled investment entities.”In neighbouring Sweden, the separation of the country’s national pensions buffer capital into several funds – the AP funds – has often been a matter of public debate.“The commission would also caution against using the fund as an instrument of foreign policy, business policy, regional policy, or environmental policy,” the ministry added.The commission also warned against the fund becoming “a government budget number two” for purposes not prioritised in the annual budget process.In order to safeguard the fund’s role in overall economic policy, however, the commission proposed that the fund’s goal was defined in the Government Pension Fund Act in a way that emphasised its function as a source of financing of the welfare state across generations. “The requirement of the highest possible return at an acceptable and carefully weighed risk level is thus of particular importance,” the commission said.The GPFG had to be a responsible investor, and its current practice of investing abroad should be established by law, it added. Gjedrem said: “This would reflect the fund’s role as a pillar for financing the welfare state and its role as a savings fund for the nation.”The GPFG is the third-largest institutional investor in the world, according to IPE’s Top 1000 Pension Funds report for 2016. Norway’s NOK8.1trn (€855bn) oil fund should be managed separately from the country’s central bank now that it has grown so big, a government commission has proposed.The Ministry of Finance announced last week that a commission set up to review Norges Bank and the Norwegian monetary system had recommended that the oil fund be managed by a separate statutory entity.Currently the Government Pension Fund Global (GPFG) – Europe’s largest sovereign wealth fund – is managed by Norges Bank Investment Management (NBIM), which is part of Norges Bank.Svein Gjedrem, chair of the commission, said: “Both central banking and investment management place greater demands on the board, senior management, and the organisation than earlier.”last_img read more

Dutch dentists to gauge interest in mandatory pension plan

first_imgThe closed Dutch pension fund for dentists and dentist consultants (SPT) and its occupational pensions association (BPVT) are to sound out the interest among members for a new mandatory pension plan.The initiative is a result of negotiations between both organisations after a dispute about the composition of SPT’s board had led to the pension fund starting court proceedings about the BPVT’s role last summer.Meilof Snijder, the scheme’s temporary chairman, said that SPT, BPVT and the occupational associations for dentists and dentist consultants “wanted to take their responsibility for pension arrangements for the occupation”.“We have received signs that younger colleagues hardly save for their pension,” said Snijder. He estimated that currently 6,000-7,000 dentists were not participating in the pension fund and depended on individual arrangements. If a new and mandatory scheme for dentists were to be established, it would be “something alongside SPT”, according to the chairman.He added that re-opening SPT would not be likely. “Approximately 70% of our participants are pensioners and our investment policy has been tuned to this situation accordingly,” Snijder said.Following a provisionary agreement in the wake of the court proceedings, the BPVT reconfirmed that it would not come up with proposals for interim board changes.The occupational pensions association has also abandoned its initial objections against SPT’s plan to increase the annual fixed indexation from 0.85% to 1.15%.The parties have also agreed that Han Bakker – an orthodontist – will take over as chair from Snijder as of 1 January.Currently, Bakker is completing the necessary courses for getting his pensions expertise up to scratch, and has reached the level for the required assessment by supervisor DNB, Snijder explained.SPT, for its turn, said it would help BPVT’s new chairman, Ward van Dijk, increase his pensions expertise.Last summer, Van Dijk succeeded Peter Czaikowsky after the latter had stepped down as chair of the occupational pensions association.Part of the new agreement involves the pension fund providing BPTV with a fixed budget, based on its agreed tasks. In the past, the BPVT often significantly overspent its budget, according to Snijder.He said that the air between the pension fund and BPVT’s new board has been cleared and calm has returned following the new and “workable” agreement.SPT, which manages €1.9bn of assets for 2,850 participants and 4,125 pensioners, was closed to new entrants in 1997.last_img read more

Men’s Tennis Defeats Denver, 5-2

first_img Box Score 5. Finley Hall (DU) def. Pedro F. Del Valle (DEN) 6-4, 3-6, 6-3  Print Friendly Version 2. Ben Wood/Finley Hall (DU) def. Jorge Nunez/Mattia Ros (DEN) 6-3 DES MOINES, Iowa – The Drake University men’s tennis improved to 3-0 in Summit League play as the Bulldogs topped the defending league champions Denver, 5-2, Sunday at the Roger Knapp Tennis Center. The Bulldogs travel to Minnesota on Friday, Feb. 23 at 6 p.m. and then squares off against Penn on Saturday to close out the weekend. Drake 5, Denver 2Feb 18, 2018 at Des Moines, Iowa (Roger Knapp Tennis Center)  The Pioneers managed to get on the board with a victory on court No. 6.Hands pushed Drake’s lead to 3-1 as he earned a straight set win at No. 2, while Clark clinched the Bulldog victory after breaking Nunez for the 6-3, 6-4 win at No. 4 singles. Story Links Singles competition The doubles point came down to just a few points with the Bulldogs coming out on top. Ben Wood and Finley Hall defeated Denver’s Jorge Nunez and Mattia Ros 6-3 at No. 2 doubles, while the other two matches went into tiebreakers. The Pioneers took court No. 1, while juniors Tom Hands and Ben Clark edged Denver’s Pedro Fernandez Del Valle and Eric Morris, 7-3 in the tiebreaker to give Drake the ever-important doubles point. 2. Tom Hands (DU) def. Eric Morris (DEN) 6-3, 7-6 (7-6) Match Notescenter_img 3. Matt Summers (DEN) def. Barny Thorold (DU) 3-6, 6-4, 6-4 “The guys came out with high energy and took the doubles point. The doubles point could have gone either way with two matches going into tiebreakers,” said Drake head coach Davidson Kozlowski.”It was a very hard fought doubles point and set the tone and got our guys reenergized for singles.” 1. Matt Summers/Jesse Ruder-Hook (DEN) def. Vinny Gillespie/Barny Thorold (DU) 7-6 (7-3) Doubles competition 3. Tom Hands/Ben Clark (DU) def. Pedro F. Del Valle/Eric Morris (DEN) 7-6 (7-3) 1. #120 Vinny Gillespie (DU) def. Mattia Ros (DEN) 6-3, 6-2 6. Ignatius Castelino (DEN) def. Freddie Powell (DU) 6-4, 6-2 Drake’s Vinny Gillespie put Drake up 2-0 with an impressive 6-3, 6-2 win at No. 1 singles. Drake 10-4, 3-0 (Summit) 4. Ben Clark (DU) def. Jorge Nunez (DEN) 6-3, 6-4 Order of finish: Doubles (2,1,3); Singles (1,6,2,4,5,6)last_img read more

West London Pole Vault girl wins South of England Under-15 title

first_imgWest London Pole Vault squad member Stephanie Broomhead, from Harrow, won the South of England Under-15 Championships in 3.36 metres.It was a new personal best and cemented her place as the number one in her age group in the UK.West London Pole Vault coach, former British champion Ellie Spain said: “Steph is a dedicated, hardworking and talented young athlete.“She is a testament to the fact that hard work plus ability equals success and has a bright future ahead of her in the sport.”Click here for more information about West London Pole Vault.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 Follow West London Sport on TwitterFind us on Facebooklast_img read more

Prominent Biologist Espouses Darwinian Racist Views

first_imgThe history of evolutionary thought includes many aspects modern evolutionists would rather forget, such as racism and eugenics.  Old ideas that blacks are evolutionarily inferior have cropped up again, though, not from some redneck schoolhouse but from the co-discoverer of the DNA structure.  James Watson, outspoken secular humanist, let loose with some comments about racial inferiority that set off a firestorm, reported The Independent (UK).  Watson was promoting his new book Avoid Boring People: Lessons from a Life in Science, which includes this statement:There is no firm reason to anticipate that the intellectual capacities of peoples geographically separated in their evolution should prove to have evolved identically.  Our wanting to reserve equal powers of reason as some universal heritage of humanity will not be enough to make it so.His comments to a London newspaper made it clear who he had in mind:Dr Watson told The Sunday Times that he was “inherently gloomy about the prospect of Africa” because “all our social policies are based on the fact that their intelligence is the same as ours – whereas all the testing says not really”.  He said there was a natural desire that all human beings should be equal but “people who have to deal with black employees find this not true”.Watson tried to clarify that he did not mean blacks should be discriminated against, but did not back away from his “scientific” claims.  Civil rights groups are studying his remarks and expressing extreme displeasure.  Fox News also reported on some of the aftermath.    Science wrote in 1990, according to The Independent article, “To many in the scientific community, Watson has long been something of a wild man, and his colleagues tend to hold their collective breath whenever he veers from the script” (cf. 08/24/2003).  But Watson himself made it clear in the quotes above that his opinions were inextricably tied to views on human evolution that he must feel are fairly typical among scientists.Update 10/19/2007:  The Guardian reported that Watson apologized for his remarks.  “To all those who have drawn the inference from my words that Africa, as a continent, is somehow genetically inferior, I can only apologise unreservedly,” he said.  “That is not what I meant.  More importantly from my point of view, there is no scientific basis for such a belief.”  Yet parts of his statement seem to put the blame on his listeners: “I cannot understand how I could have said what I am quoted as having said.”  The article also notes that “Prof Watson’s statement did not clarify what his views on the issue of race and intelligence are, but he hinted that he had been misquoted.”  He said, “I am mortified about what has happened,” but none of his apology explicitly took responsibility for earlier statements or explained what he really meant by them.  The article quotes some of the heated response his remarks instigated.  See also: Live Science.Update 10/24/2007:  Watson has been “suspended from administrative duties” at Cold Spring Harbor Laboratory (Long Island, NY) because of his remarks about race.  [email protected] reported that this may indicate the end for Watson: senior US colleagues said things like “It is a sad and revolting way to end a remarkable career,” and “He has failed us in the worst possible way.”  See also the BBC News and a commentary on MSNBC that said Watson appears to have a foot-in-mouth gene.    An Editorial in Nature 10/25 entitled “Watson’s Folly” was similarly unsparing, but regretted that this episode might hinder the “openness and critical debate” scientists need when dealing with controversial subjects – including the “sensitive task of unravelling differences between the world’s population groups, all the while acknowledging that ‘race’ is an emotive and unscientific word.”  The editorial blamed Watson for “sheer unacceptable offensiveness” that can lend “succour and comfort to racists around the globe,” yet was just as concerned about the chilling effect his remarks will have on scientific inquiry, such as “investigating the equally sensitive genetics of ‘desirable” traits, such as cognitive ability.”    The editorial acknowledged such investigations can lead to abuses: “Asking such questions has always been controversial, given the potential for abuse of the outcomes demonstrated by the history of eugenics.”  But it agreed with a point Watson himself was trying to make: “Scientists explore the world as it is, rather than as they would like it to be.”  This presupposes that scientists are not subject to biases like other investigators – an assumption some would point out was used just as readily by abusers of the past.Update 10/25/2007:  Watson, age 79, has retired under a cloud of disgrace from his position at Cold Spring Harbor Laboratory, reported the BBC News.  He said his resignation was more than overdue.  “The circumstances in which this transfer is occurring, however, are not those which I could ever have anticipated or desired.”Watson’s apology does not go far enough.  The same reporters who hound politicians to apologize for a controversial statement should press Watson to give a full accounting of what he meant to say, and should demand he take complete responsibility for his remarks, not blame his listeners.  His apology sounds like the joke about a brat whose mom tells him, “Did I hear you call your sister stupid?  Tell her you’re sorry!”  He dutifully walks over to Susie and says, “Sis, I’m sorry you’re stupid.”    Read Watson’s apology carefully, and you see him shifting the blame to others for misquoting or misinterpreting him.  Fine; we all get misunderstood.  Tell us, then, Jim, what you really think about black people and their intelligence, and explain whether you still believe tens of thousands of years of evolution has made some races more intelligent than others.  Tell us whether society should treat all people as equal or not.  Tell us on what evolutionary basis a government should say that people have inalienable human rights.    Two books should be read by anyone who doubts the influence of Darwinian thinking on racism: The Mismeasure of Man by Stephen Jay Gould, and From Darwin to Hitler by Richard Weikart (info).  Darwinists in past days put a black man in a zoo (article), categorized black people as closer to apes than to Europeans (article), did experiments rigged to show racial superiority of Europeans and males (article), and committed actual genocide in Namibia (article) and Tasmania (article) because of evolution-based racism.  While evolutionists could argue that Darwinism does not imply racism, many evolutionists used alleged primitive peoples as evidence that human evolution was true.    The “script” that Watson veered from has been modified to expunge those incriminating episodes, but every once in awhile they emerge again, because they are a natural outgrowth of evolutionary beliefs that have different people groups evolving separately for tens of thousands of years or more.    Biblical creationists, by contrast, believe that all people are of one race – the human race.  We are all one family, descended from one original pair, and related once again through Noah and his offspring just a few thousand years ago.  While abilities (both cognitive, artistic, physical and intellectual) can vary substantially even within one biological family, we are all one race, one family, one blood, and one creation.  We are each individually equally precious in God’s sight and worthy of equal dignity as creatures made in His image.  Choose what kind of worldview you want governing our world.(Visited 42 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

The Army’s Net Zero Energy Mission

first_imgOn August 1, the U.S. Army public affairs office in Hawaii published a feature story about the service’s new conservation initiative, which is aimed at preserving natural resources and making energy efficiency key to strategies for housing construction and improvements in transportation and general operations.“One thing that I admire about the Army is that we are full of extremely creative individuals,” Katherine Hammack, assistant secretary of the Army for installations, energy and environment, told the press officer at U.S. Army Garrison-Hawaii last month.In many cases, the Army will rely on the ingenuity and know-how of its soldiers to develop and deploy conservation strategies, although some of the more complex and large-scale energy saving initiatives will involve military and civilian experts. Among the most high-profile of these will be the U.S. Military Academy at West Point “Net Zero Installation” project – a series of facility upgrades that will include the installation of renewable-energy systems, advanced lighting and power monitoring systems, barracks upgrades, a biomass system, and the construction of a new barracks to net-zero-energy performance standards.An airtightness requirementArmy standards for airtightness, as adopted a few years ago by the U.S. Army Corps of Engineers, are already very high for both renovations and new construction. The Army Corps’ HVAC commissioning procedures include air-barrier testing that show building envelope leakage rates of no more than 0.25 cubic feet per minute per square foot of building envelope, when tested at 75 Pascals. This is no small challenge. As noted in “Controlling Air Leakage in Tall Buildings,” an article published in 2009 by the American Society of Heating, Refrigerating and Air-Conditioning Engineers, the Army is getting a lot of practice at identifying potential air-barrier deficiencies in building shells at the “pre-design” stage of a project, which allows the design-build team to address the issues and meet the leakage-rate requirement in a timely and cost-effective way.The need is thereIt won’t be cheap, but it is a good time to act because many of the barracks at the fortress-like academy are overcrowded, and the campus, perched high above the west bank of the Hudson River, near Highland Falls, New York, is exposed to extreme weather during the winter. Construction of the new barracks – the first built on the campus since 1972 – is scheduled to begin in 2013, and will cost about $131 million.Initial investment in West Point’s barracks project is coming from energy-saving specialist Noresco, which so far has awarded the school $25 million in Energy Savings Performance Contracts (ESPCs) – partnerships between energy service companies and federal agencies. Supervised through the Department of Energy’s Federal Energy Management Program, the partnerships allow energy service companies such as Noresco to conduct comprehensive energy audits for a federal facility, identify improvements to save energy, design and construct a project that meets the agency’s needs, and arrange the necessary funding.One advantage to ESPCs, the DOE notes, is that they allow federal agencies to move forward on energy saving projects without committing large amounts of their own capital upfront, and without special congressional appropriations. The energy service company’s obligations are extensive, however, since it must guarantee that the improvements will generate enough energy cost savings to pay for the project over the term of the partnership contract. Contract terms up to 25 years are allowed, and additional cost savings after the contract ends accrue to the federal agency.last_img read more

8 Must-Follow Video Essay Editors

first_img5. Vashi NedomanskyVashi Nedomansky is an editor who has worked with with talented filmmakers like Jerry Bruckheimer, Michel Gondry, and John Landis. He is also a member of Shane Hurlbut‘s team at the Hurlblog. Nedomansky’s video essays are great at tackling specific techniques, like camera movement, framing, and the use of music. 2. Jacob T. SwinneyJacob T. Swinney has made quite a name for himself for his video essays and supercuts. He has since become a contributor for several sites, including Slate, IndieWire, and Fandor.The topics Swinney covers are wide, often focusing on one particular element a director often uses. He often makes supercuts of Quentin Tarantino and Paul Thomas Anderson’s work. His other video essays focus on singular elements  like silhouettes, POV shots, lens flares, and fading to white. Vashi also has great pieces on general filmmaking, like the composite of a television script with the final edited sequence. Did we leave your favorite supercut editor off the list? Let us know in the comments below. 4. Rishi KaneriaRishi Kaneria‘s video essays stand out from the others because they often focus on color. These pieces are wonderfully edited and heighten your senses by examining how filmmakers use color for contrast to capture your attention. Kaneria recently shifted focus to another filmmaking staple often not featured — props.Why Props Matter focuses on the objects used to enhance storytelling. Another great addition to these video essays are the incredibly elaborate breakdowns in the descriptions on each video’s page. 6. Leigh SingerLeigh Singer has made several video essays for IndieWire’s Press Play, a source for some of the best video essays available. While there aren’t nearly as many video essays on Singer’s page as others on this list, these videos are still very worthwhile. Each video essay features scenes from tons of different films, so you can easily see how techniques like POV or slow motion have been used over the years.center_img 8. Criterion CollectionWhile not curated by one editor, the Criterion Collection features work made for Criterion. The page contracts many great editors to create video essays on the historical filmmaking icons in the Criterion catalog. The Criterion Collection even features exclusive videos from previously mentioned editors, like kogonada. 7. Andy Schneider & Jonathan Britnell (Burger Fiction)Unlike the other detailed video essays previously listed, Andy Schneider & Jonathan Britnell of Burger Fiction are going for laughs. This makes their supercuts a whole lot of fun to watch. Not all of their supercuts are specific to film or theory, but they do provide plenty of entertainment. They also have a new video posted every Monday. Every filmmaker can learn from these amazing compilations and supercuts. Here are the video essay editors who are creating the best clips.Becoming a filmmaker requires you to study the work of others. That’s truly the best way to hone your skills. These editors have studied countless films themselves, and have created some absolutely stunning work that is engaging, entertaining, and educational. Let’s take a look at editors who are creating the best video essays for others to study and enjoy.1. Tony Zhou (Every Frame a Painting)The Every Frame a Painting series has only been around for a year, yet it is possibly one of the most popular video essay series out there. That’s because Tony Zhou does a masterful job of editing these pieces and his overall storytelling is phenomenal. Not only does Zhou often narrate his pieces, he often uses incredible archive interviews.There’s a good chance you have seen many of his video essays, and thanks to those who donate to his Patreon page, he’s able to continue making these great pieces. Some of his best work examines comedy. Here are a few of my favorite comedic video essays from Tony Zhou. 3. kogonadaThe video essays of kogonada probably show up in your Vimeo feed often, because plenty of these video essays have gone on to become Vimeo Staff Picks. Kogonada has often contributed to the illustrious Criterion Collection as well as sites like Sight & Sound.These video essays frequently dive into the works of popular filmmakers like Stanley Kubrick, Wes Anderson, and Quentin Tarantino. What sets kogonada apart from others, are the video essays on foreign filmmakers like Robert Bresson and Yasujirô Ozu.last_img read more

NRL-TFA Strategic Alliance Activation Conference a success

first_imgStaff from the Touch Football Australia (TFA) national office, state offices, New South Wales Touch Football and Queensland Touch Football and their regions converged on NRL Central last week to take part in the NRL-TFA Strategic Alliance Activation Conference. The staff spent two days in Sydney learning more about the two organisation’s partnership and ways the two sports can work together to become Australia’s largest sporting community. The conference included overviews of both sports, structure and operation of game development, relationship objectives and implementing local partnership plans, as well as interaction with key specialist areas including welfare, media, interaction and alignment of school programs as well as sport education. NRL Chief Executive, David Smith and NRL Head of Football, Todd Greenberg also spoke to the group at different stages of the conference about their excitement of the alliance. Touch Football Australia Chief Executive, Colm Maguire said the conference was an ‘outstanding success’. “The conference truly opened people’s minds to the opportunities we have to really change the sporting landscape.  To have the vast majority of the employed staff throughout Australia in the room, contributing to the direction and ultimately buying into our strategy was energising.”  “The contribution of all attendees will further guide the direction of our alliance and we hope it gave a deeper level of understanding to why TFA have progressed this partnership.  Both Dave Smith and Todd Greenberg conveyed the excitement they have for what can be achieved and the benefit of working in a true partnership.  We all now have a responsibility to make this partnership work and I am certain that when we do, it will be the most incredible outcome for both Rugby League and Touch Football.””I thank all presenters and attendees for the commitment to the conference,” Maguire said. Related LinksNRL-TFA Conferencelast_img read more

9 months agoFC Andorra coach Gabri: Ownership won’t hurt Pique’s Barcelona form

first_imgFC Andorra coach Gabri: Ownership won’t hurt Pique’s Barcelona formby Paul Vegas9 months agoSend to a friendShare the loveFC Andorra coach Gabri Garcia insists Barcelona defender Gerard Pique’s form won’t be influenced by his club ownership.Pique quickly moved for the former Barca coach to take charge of Andorra after buying the club.”I do not think it will affect his play, Gerard is a person who handles a lot of things and this is just another one,” said Gabri. “Of course, it is not only he who is in this project, since there are more people behind him, he delegates to fully prepared people. “Gerard has never been off centre and this time he will not either.” About the authorPaul VegasShare the loveHave your saylast_img

Milaha Launches Its 1st European Service

first_imgzoomAbdulrahman Essa Al-Mannai, Milaha CEO; Image Courtesy: Milaha Qatar-based maritime transport and logistics company Milaha has launched the new Black Sea Express Service (BSX) — the company’s first European service linking the Mediterranean and the Black Sea. The new direct feeder service will be connecting Greece, Turkey, Georgia and Russia and will initially be served by two vessels with a 1,700 TEU capacity and 300 reefer plugs.It will have the following port rotation: Piraeus (Greece) – Kumport (Istanbul) – Poti (Georgia) – Novorossiysk (Russia) – Piraeus (Greece).According to Milaha, the new service will cater for Russian and Turkish regional trade, while also linking Greece with multiple locations in the Black Sea region, further enhancing the company’s portfolio of international maritime and logistics services.Milaha’s President and CEO Abdulrahman Essa Al-Mannai highlighted that the introduction of the new service reflects the company’s success in expanding its coverage into new markets, amid rising demand for its services.“This latest addition to our feeder services will complement our existing coverage in the Black Sea region and expand our reach to the Mediterranean Sea,” he said.Milaha currently calls twelve ports directly and serves more than 20 ports via its liner services in the Middle East, Indian Sub-continent, South East Asia and Europe.The company’s fleet currently comprises 66 vessels with a total fleet value of USD 792.07 million, VesselsValue’s data shows.Related:Milaha to Upgrade Its Mesaieed ShipyardMilaha Joins Forces with Oracle Cloud to Transform Its Businesslast_img read more