We can’t let financial inclusion become just another buzzword

first_img City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. We can’t let financial inclusion become just another buzzword Friday 18 January 2019 9:13 am whatsapp whatsapp Over the last decade, the world has made significant progress towards universal financial inclusion.Today, traditionally underserved individuals have greater access to financial products than ever before. And with mobile networks reaching more than 90 per cent of the population in developing nations, digital payments – a key on-ramp to financial inclusion – are becoming easier.The next chapter of financial inclusion will require us to focus not just on access, but on usage, and ultimately on financial health and security. We won’t see progress towards those goals achieved if new accounts aren’t used.On usage, we still have distance to travel.Globally, one fifth of bank or mobile money accounts are inactive, without a deposit or withdrawal over the past year. While developing markets like China, India, Kenya, and Thailand have achieved account access upwards of 80 per cent, usage still falls short. Overall, developing markets have been slow to close the usage gap with high-income countries.Without usage, we risk financial inclusion joining the pile of failed solutions and becoming just another buzzword. The first place to look is among the organisations that drive economic activity at the base of the pyramid: telecommunications providers, agribusinesses, consumer goods companies, apparel companies, and energy firms. They sell to, buy from, and employ millions of underserved individuals and small businesses which are still left out of the formal financial system.Not only do these organisations play a critical role today, but they have a vested interest in seeing the digitalisation of their business models going forward. They stand to benefit from the tools – more efficient digital payments – as well as the outcome – greater financial inclusion.The final step is to get the ecosystem working together for mutual benefit. “If you want to go fast – go alone. If you want to go far – go together.” This oft-cited African proverb summarises the need to approach financial inclusion efforts collaboratively.Regardless of an ecosystem’s maturity or composition, the private sector must work with governments and civil society to create enablers for success. There remains a great need to invest in infrastructure that enables acceptance of payments, as well as education and financial literacy to help people on their journey to financial security and health.As a market organiser with decades of experience shaping ecosystems responsibly and fostering productive business environments, we believe in the power of digitalisation to realise social impact. Opinion Share There are therefore three key things we must do to ensure that inclusion delivers on its promise.First, we need to build robust eco-systems that enable scale. To achieve our collective goal of financial inclusion for all, we must deepen our work with stakeholders such as civil society institutions, multilateral organisations, government bodies, and private sector financial institutions.All of these have played and will continue to play a tremendous role in financial inclusion, including by building out the ecosystems necessary for individuals to find it convenient and compelling to use their new access.Next, we need to broaden our aperture and look beyond the traditional stakeholders to a wider cast of actors, reaching deeper into the real economy. There is an opportunity to work more closely with the private enterprises that are present in the lives of people living on less than $2 a day – and to do so in a manner that strengthens the path from financial access to financial health and security. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal Pastmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyPaws ZillaLily From The AT&T Ads Is Causing A Stir For One ReasonPaws Zillabonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.com By working with a broad range of stakeholders – traditional partners like banks, less traditional partners including microfinance institutions, and new partners such as enterprises in the real economy – we can accelerate and expand real financial inclusion. Mike Froman More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Tags: Trading Archivelast_img read more

Unicredit’s Mustier rules himself out of running for HSBC role

first_imgMonday 24 February 2020 11:29 am Goodbody analysts said this morning that “interim chief executive Noel Quinn was the architect of a strong strategy recalibration… and it is very difficult to see an outsider come in to inherit this very detailed strategy”. whatsapp Mustier phoned HSBC chairman Mark Tucker on Sunday to say he was no longer interested in the role and would remain at Unicredit, the Financial Times reported.  Last week, Quinn unveiled HSBC’s most radical strategy overhaul in years alongside the bank’s annual results.  Unicredit chief executive Jean Pierre Mustier has ruled himself out of the running to be the next boss of HSBC, as the hunt to find a leader for Europe’s largest lender enters its seventh month.    Italy’s biggest bank said this morning that Mustier had confirmed he would remain in role, following reports last night that he had ruled himself out of the top job at rival HSBC.  Anna Menin whatsapp HSBC has been searching for a new permanent chief executive since the abrupt departure of John Flint in August. Quinn, who had led HSBC’s commercial bank, was immediately appointed as his interim replacement.  At the time, Tucker said the bank would name a permanent successor within six months to a year.  Mustier has ruled himself out of the running to take over the top job at HSBC (AFP via Getty Images) Also Read: Unicredit’s Mustier rules himself out of running for HSBC role Under the plans, the lender will cut 35,000 jobs over the next three years and will shed $100bn of assets, as well as overhauling its corporate structure.  Unicredit’s Mustier rules himself out of running for HSBC role A spokesperson for HSBC said the recruitment process “remains ongoing”. Mustier had been identified last week as the preferred external candidate for the role, establishing him as the main contender to interim chief executive Noel Quinn, who has led HSBC since August.  “We said it would take six to 12 months and we continue to work towards that timescale,” they added. More From Our Partners Kansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org HSBC came under criticism from some shareholders and analysts last week for announcing a major restructuring programme without clarity on who would lead the bank through the process.  Share Mustier has ruled himself out of the running to take over the top job at HSBC (AFP via Getty Images) Mustier has ruled himself out of the running to take over the top job at HSBC (AFP via Getty Images) Also Read: Unicredit’s Mustier rules himself out of running for HSBC role Show Comments ▼ Tags: HSBC Holdingslast_img read more

We need a carbon border tax to get Britain to net zero

first_imgThis statistical sleight of hand is a serious problem. It allows the government to pat itself on the back, while hiding emissions off the balance sheet. If the UK is sincere about genuinely getting to net zero, it must think of how to square this circle. The fact that eight new interconnectors are due to come online by 2027 — supplying perhaps a fifth of our electricity — only underlines this. We need a carbon border tax to get Britain to net zero Eamonn IvesEamonn Ives is a researcher at the Centre for Policy Studies. He tweets @EamonnIves. whatsapp Applied to electricity imports, the tax would be levied on the basis of the exporting state’s electricity generation mix and its respective carbon intensity. For a country like France, which generates much of its electricity from nuclear power, the tax would be relatively low. For one like the Netherlands, which won’t phase out coal until 2030, it would be higher.  Share Opinion While delegates won’t convene at the UN’s annual climate change conference until mid-November, the government needs to consider now how it can showcase leadership on climate action.  The Centre for Policy Studies seldom advocates for higher taxes, but there is good reason to support this one.  Much of that success has been down to cleaning up its energy sector. Britain now has a flourishing wind power industry, which generates a sizeable portion of its electricity needs. Indeed, owing partly to this, the grid went without coal-generated power for more than 18 continuous days between May and June last year.  The solution we propose is a carbon border tax.  Tuesday 17 March 2020 4:30 am Second, carbon taxes of all sorts are — rightly — hailed by economists as the easiest and most efficient way to tackle global warming. Climate change is, fundamentally, a market failure, in that more carbon dioxide is produced than is socially optimal. Even hard-nosed free-marketeers can be sympathetic to taxes in order to price in negative externalities. A carbon border tax could also prevent the ill-advised “solutions” of the left from gaining traction.  The government will reintroduce controversial subsidies for onshore wind farms as it looks to meet carbon reduction targets. (Getty Images) First, British electricity is already taxed through the carbon price floor, which levies an £18.08 charge for every tonne of carbon dioxide created in the process of generating electricity. Introducing a carbon border tax would simply level the playing field between domestic and imported electricity. But modelling of energy flows during the so-called “coal-free fortnight” shows how the largest share of interconnector electricity would have come from the Netherlands, which produced 535.8 gigawatt hours of coal-fired power over that period. Alas, impressive as the run was, Britain still depended on coal — albeit indirectly — for energy.  Or so it would seem. In fact, a new paper from the Centre for Policy Studies explains how, even then, the UK was reliant on electricity produced by burning coal.  whatsapp COP26 is a critical moment, both for the environment and for Britain to stand tall on the international stage. The government must be bold, and there are scarcely few better places to start than by introducing a carbon border tax on our electricity imports. Show Comments ▼ Main image credit: Getty City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Undersea cables, known as interconnectors, provide Britain with power generated elsewhere. As ministers cannot trace exactly how each unit of imported electricity is produced, power from interconnectors are largely omitted from official statistics.  Later this year, the eyes of the world will be on the UK as it hosts COP26.  by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funnybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comArticles SkillThe US Built A New Submarine The World Is Afraid OfArticles SkillHeart of Cars40 Of Today’s Funniest MailboxesHeart of CarsGuerilla InsuranceA Cliff Collapsed In The Grand Canyon And Unearthed This…Guerilla InsuranceCrafthoughtThis Is What’s Going To Happen In 2021 – Nostradamus Predicted It Centuries AgoCrafthoughtJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAL&C MagazineOne photo that almost destroyed teen gymnast’s life L&C Magazine The UK starts from a position of strength. In 2019, it became the first major economy to legislate for a net-zero target for greenhouse gas emissions, and can also boast the fastest rate of decarbonisation among G20 nations this century. last_img read more

Heavy rainfall in Juneau causes minor flooding and prompts evacuations

first_imgJuneau | Southeast | WeatherHeavy rainfall in Juneau causes minor flooding and prompts evacuationsOctober 6, 2019 by Matt Miller and Rashah McChesney, KTOO Share:A rainbow shines over downtown on Sunday in Juneau. The city was inundated with rain over the weekend causing minor flooding, property damage and road closures. (Photo by Rashah McChesney/KTOO)Update (2:45 p.m. Sunday)There was a lot of mud, water and loose rock in the roads in Juneau on Sunday. Heavy rains caused flooding, mudslides and in one Douglas Island neighborhood, a road collapsed early Sunday morning.  Shawn Blumenshine, a Douglas Island resident checks for damage to his property on Sunday, October 6, 2019, in Juneau, Alaska. The city was inundated with rain over the weekend causing minor flooding, property damage and road closures. Blumenshine was evacuated at 3 a.m. Sunday, due to high water and the threat of a road collapse. (Photo by Rashah McChesney/KTOO)Shawn Blumenshine lives nearby. His townhome is built into the side of a hill between John Street and David Street on Douglas. He said he’s been there for about three years. Just down the hill, John Street has eroded away, causing one car to fall partially into a ditch. Early Sunday morning, Blumenshine said he heard construction workers. “And then all of the sudden, a bunch of people are banging on my door at 3 a.m. I get up and I answer, it’s about three or four city workers. They’re like, you need to leave — we’re evacuating the neighborhood. Apparently they had been trying to get my attention for awhile,” he said.They told him they were afraid they were going to lose John Street.  The whole thing took him by surprise. Blumenshine grabbed a few things and bolted out of the house. There was water in his garage. He says he walked through knee-deep water to get to his car. He said he’s never had his home evacuated before.John Street on Douglas Island where residents were evacuated Saturday, Oct. 5, 2019 due to high water and the threat of the road collapsing. (Photo by Rashah McChesney / KTOO)“I’m on the side of the hill. I’m pretty up above the water level. It’s some place where you would feel safe. I’ve never had it happen, I’ve never heard of it happening,” he said.At 3 a.m., he said he had a hard time getting anyone to answer their phones. “Everyone’s asleep like normal people,” he said.So he ended up in Auke Bay at a friend’s house.  By Sunday morning, most of the water had receded.  Blumenshine, has some mud in his garage and has someone coming out to check his foundation — other than that, he said he’s fine.But, it’s still raining.   David Levin of the National Weather Service says downtown Juneau and Douglas area got 4 to 6 inches of rain in a 24- to 36-hour period over the weekend. The Juneau police, city streets department and state Department of Transportation and Public Facilities are out checking out complaints of high water as well as mud and debris in the roads.  Thane Road was partially closed due to flooding and mudslides on Sunday, October 6, 2019, in Juneau, Alaska. (Photo by Rashah McChesney/KTOO)There’s debris on Glacier Highway between Juneau-Douglas High School: Yadaa.at Kalé, and the Egan Drive access road, and reports of standing water over portions of Egan Drive.A landslide covered a portion of Thane Road on Sunday morning. Department of Transportation crews are working with a construction company to open drainage and culverts along the road. They’ve asked residents to keep away from the area. DOT limited that road to one lane of local traffic from miles 1 through 5.Debris keeps blocking drains, putting mud and water on the roads. City streets and DOT employees were running around town clearing them.  A car drives through mud and high water in downtown, on Sunday, October 6, 2019, in Juneau, Alaska. The city was inundated with rain over the weekend causing minor flooding, property damage and road closures. (Photo by Rashah McChesney/KTOO)Levin said he expected another inch to two inches of rainfall (web: until 4 p.m.) into Sunday afternoon. The National Weather Service has posted a flood advisory for possible minor flooding of rivers, creeks and poor drainage areas. Mudslides and debris flow are possible in steep terrain areas.The weather service cautions drivers to avoid roads that have been covered by water.Levin said the heavy rainfall was caused by a strong weather system that entered Southeast Alaska from the west and southwest. As of Sunday morning, he said Montana Creek was approaching minor flood stage. The weather service is also monitoring water levels in Jordan Creek and the Mendenhall River.   Original storyJohn Street on Douglas Island where residents were evacuated Saturday, Oct. 5, 2019 due to high water and the threat of the road collapsing. (Photo by Rashah McChesney / KTOO)This weekend’s heavy rainfall has caused swelling of rivers and streams, minor flooding of some streets, and even forced one Douglas Island resident from his home.David Levin of the National Weather Service office in Juneau says heavy rainfall was caused by a strong weather system that entered Southeast Alaska from the west and southwest. The downtown Juneau and Douglas area received four to five inches of rain in the last 24- to 36-hours. Some of the higher elevation sites received as much as six inches of rainfall.As of Sunday morning Montana Creek and was approaching minor flood stage. The National Weather Service is also monitoring water levels in Jordan Creek and the Mendenhall River.Samuel Dapcevich of the state Department of Transportation and Public Facilities (DOT) said a landslide covered a portion of Thane Road Sunday morning. SECON, a construction company that contracts with the city and state, is working with DOT to clear open drainage and culverts along the road. The road is currently limited to just one lane of local traffic.There were reports of debris on Glacier Highway between the Juneau-Douglas High School and the Egan Drive access road, and reports of standing water over portions of Egan Drive.Dapcevich said there was also a small slide on Douglas Highway between John Street and David Street.John Street on Douglas Island where residents where evacuated Saturday, Oct. 5, 2019 due to high water and the threat of the road collapsing. (Photo by Rashah McChesney / KTOO)“We saw some pictures from the John Street area on Douglas of some pavement broken up and also some debris flow activity,” Levin said.One vehicle is fully in the ditch where a portion of John Street eroded away. Another vehicle is on the edge.Shawn Blumenshine lives in the area. He said he got a knock on the door at 3:00 a.m. Sunday morning and was told he needed to gather his things and evacuate because a portion of John Street near Peter’s Lane was eroding and in danger of collapsing. He returned home to minor flooding in the garage, but no major damage.Juneau Police Department dispatcher Jake Thayer said there was water and mud that spilled onto the road at the 6100 block of Douglas Highway and some water over the road at the 3400 block. Standing water on Nowell Avenue and Sitka Street in West Juneau was reportedly caused by plugged drains.Levin said they expect another inch to two inches of rainfall until 4:00 p.m. Sunday afternoon. The National Weather Service has posted a flood advisory for possible minor flooding of rivers, creeks, and poor drainage areas. Mudslides and debris flow are possible in steep terrain areas.The weather service cautions drivers to avoid roads that have been covered by water.Heavy rain extends Gold Creek Flume Trail closureShare this story:last_img read more

Businesses including PwC, KPMG and Axa back four-week limit on unpaid internships proposed by campaign group Intern Aware

first_img Share whatsapp Show Comments ▼ Lynsey Barber Thursday 26 February 2015 7:43 amcenter_img whatsapp Businesses including PwC, KPMG and Axa back four-week limit on unpaid internships proposed by campaign group Intern Aware Some of the UK’s biggest businesses are backing a ban on internships which force young people to work for long periods of time without pay.Accountancy giants KPMG and PwC along with insurance firm Axa are putting their weight behind campaigner’s calls to place a four-week limit on internships which do not offer pay. Campaign group Intern Aware welcomed the support from businesses, which also include Pimlico Plumbers, construction firm CH2M Hill, and the PR industry trade group, the Public Relations Consultants Association (PRCA).“We are delighted that there is such strong support among business for a four-week limit to unpaid internships. We urge the Government and all political parties to adopt these proposals,” said campaigns manager Chris Hares. “For too long employers, young people and even HMRC have struggled with the ambiguous and unclear place that internships fit into the law.”Axa UK’s HR director Karan Hutchinson said its support for the campaign “would ensure a fair opportunity for everyone as they embark on their careers and allow businesses such as ours to harness the talent and skills of young people in today’s job market.”Proposals for a ban on unpaid internships which last more than four weeks gained political support after a Ten Minute Rule Motion was passed in the house of commons last year by 181 votes to 19 after being raised by conservative MP Alec Shelbrooke.Although the bill did not progress further, the issue gained support from businesses and has led to today’s backing, said Hares.Internships have no current status in law, creating a grey area as to whether interns are considered workers and entitled to receive the national minimum wage or not. This has created uncertainty for businesses seeking to comply with employment law and even HMRC when it comes to enforcement.While not a part of  KPMG and PwC’s specific backing of the limit, the Institute of Directors broadly supports the proposals for paid internships lasting more than four weeks, but warned small businesses could be put off offering the placements if costs became prohibitive.“An effective internship should be about gaining exposure to the various elements of a business, and this is perfectly achievable in four weeks. Once an internship extends beyond a month, it’s hard to justify not having a remuneration agreement in place. That said, whilst large corporates can absorb such a cost without too much burden, there will be plenty of smaller companies who could have to choose between paying an intern and not taking any on in the first place,” said head of communications and campaigns Christian May.“Living, working, and commuting in London is particularly expensive and I would encourage all employers to provide at least travel expenses for the period of an internship. If such a placement goes beyond four weeks then conversations about remuneration should take place,” he added.Intern Aware said support for the four-week limit had almost equal support from SMEs as it did from British business overall and that SMEs welcomed the clarity on abiding by employment law.The limit is supported by 65 per cent of British businesses according to a YouGov poll, while support from small businesses stands at 61 per cent.Reports from the Sutton Trust, the London Assembly Economic Committee and the Social Mobility and Child Poverty Commission have also favoured a limit on the length of unpaid internships.The backing was welcomes by employment minister Jo Swinson. “It’s good to see businesses recognising that unpaid internships exclude vast numbers of young people and are unfair, but the real issue with internships is that in many cases interns are actually entitled to the national minimum wage because they are doing a job and legally they are a worker,” she said.The department for business is due to announce the results of a review into employment law which is expected to address the grey area of internships.”The term ‘intern’ is widely used to mean various things and that’s why we’ve begun a review of employment status which will provide clarity so people know if they’re entitled to the minimum wage,” said Swinson.The Sutton Trust’s director of development and policy Dr Lee Elliott Major said paying interns who work for over a month would significantly improve access to placements and increase social mobility.Pimlico Plumbers, one of the firms to back the limit, called companies who expect interns to work without pay “reprehensible”.“This type of practice is without doubt exploitation of workers, many of whom are young and inexperienced, and in today’s job market find themselves with little choice but to work for free in the hope that they might be lucky enough to land an actual paid position,” said managing director Charlie Mullins.”This is completely unacceptable behaviour, and that’s why I’m backing Intern Aware’s call for all interns to be paid for any work period that lasts more than four weeks,” he said. 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City spin legend Brian Basham lands a top job

first_imgFinancial markets website ADVFN has called in a man of many talentsUK FINANCIAL market information specialist ADVFN yesterday appointed veteran City journalist, PR guru and small business patron Brian Basham as a non-executive director. Best known for his spell as the PR adviser to British Airways during its “dirty tricks” war of words with Virgin in the early 90s, Basham has had a long, varied and illustrious career in the Square Mile. Basham began life as a financial journalist, working for the Daily Mail, The Times and The Telegraph. “To be honest, I still think of myself as a journalist,” Basham tells City A.M..After a short spell as a fund manager, he then moved into public relations in 1972, wooed by the founding father of modern financial PR, John Addey. Addey took Basham under his wing and for next four years Basham learnt from the master. He subsequently founded his own PR firm, Broad Street Group – specialising in takeover bid communications – which he grew into a £15m public company with a fierce reputation for high-profile and aggressive PR. “At one point, I was working on two or three takeover bids, earning £50,000 a week,” says Basham. But it was when working on those large corporate takeovers that Basham realised his true calling as a small business benefactor. “Working on takeovers, I eventually became disgusted at watching big companies take over smaller ones, stripping them down and selling them off bit by bit. I decided to go into small businesses as I loved the idea of helping them to achieve their potential.”So Basham turned his back on PR and started up Equity Holdings, which produced research on the hundreds of smaller companies neglected by the analysts at the big firms. After making a success of the company, he sold it on to his now- employer ADVFN. He has since bought the company back and, last July, Basham added to his business portfolio by co-founding peer-to-peer lending platform ArchOver.Basham also instigated and guided the 1998 Treasury Report into the Smaller Quoted Company Market and co-wrote Tomorrow’s Giants with former senior Treasury official Craig Pickering.But Basham was so impressed in his dealings with ADVFN that he’s now got on board with the group. “ADVFN is a very exciting company. It’s the eighth biggest financial website in the world, and it’s got massive potential,” he says. whatsapp Show Comments ▼ City spin legend Brian Basham lands a top job by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comGundry MD Bio Complete 3 SupplementTop Surgeon: This Simple Trick Empties Your Bowels Every Morning (Almost Immediately)Gundry MD Bio Complete 3 SupplementMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesComedyAbandoned Submarines Floating Around the WorldComedyNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.com Wednesday 4 March 2015 8:56 pm whatsapp Share Tags: NULL Express KCS last_img read more

Residents look south to warm up this winter

first_imgNewsEconomy News By Choi Song Min – 2015.10.30 4:08pm Facebook Twitter News SHARE North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) RELATED ARTICLESMORE FROM AUTHORcenter_img News With winter fast approaching, many NorthKoreans have already started gearing up for the cold, and with this, demand forSouth Korean hot water hoses has spiked, Daily NK has learned. “These days, using hot water heatingpowered by coal briquettes is popular,” a source in South Pyongan Province toldDaily NK on Thursday. “But it’s hard to get the hot water hoses from the Southeven if you offer high prices.” Two additional sources, one in North Hamgyong Province and one in South Hamgyong Province, corroborated this trend, noting it to be most prevalent among city dwellers.Traditionally, the average single-floorhomes or apartments of laborers and farmers are heated with coal or wooddirectly from a furnace. Once ignited, the fuel sends the heat directly throughthe floor. In the case of Pyongyang, until the 1980s homes had steel pipesrunning through the floors but would later face chronic problems such ascorrosion and loss of heat efficiency. These days, what people put the most careinto is renovating their homes to create an area of flat slabs of stones forondol (Korean floor heating system). “They create winding channels in the cementfloors and then install a plastic hose that’s the width of your pinky finger tolet hot water pass through,” he said. “Once you install the plastic hose, youneed to be able to use it for some years, so products from the South are themost popular,” the source said. “At the general market, they have ones that areproduced in Pyongyang or Hamheung as well as Chinese goods, but a lot of themcan’t withstand the heat and soon burst. Added the source, “The ones from the Southstay the same in terms of diameter, and they don’t burst open either; some saythat a bit of supply of these South Korean goods comes from the (inter-Korean)Kaesong Industrial Park, but most are imported in from China.” Families that renovate their homes forheating usually install a copper pipe of 15-20mm in the briquette heatpreserving hole that’s in the kitchen. From there, they extend a heater hose torun hot water through. This method was thought to beused in South Korean homes in the past as well. “In the past, with the direct furnaceheating system, even using five to six briquettes, people were not able todistribute the heat equally across the floor,” he said, explaining thishas helped spread the water heating system among the general public. The South Korean goods that are circulatingfor this new heating system are not specified by make, unlike handsets fromthe South, which come with particular brand recognition for Samsung. However,the goods are still known for their good elasticity and durability, settingthem apart from local or Chinese products. North Korean plastic hoses sell for500 KPW (0.06 USD) per meter, while Chinese ones go for 1,000 KPW (0.12 USD). Even though SouthKorean hoses fetch 5,000 KPW (0.58 USD) for the same length, their popularity means thesupply is never sufficient, according to the source.This trend in hot water heating is thoughtto have trickled in from China. Since the mid-2000s, new apartments in Chinahave been influenced by South Korean culture and instead of coming with thebare structure, apartments are now built with floor heating and interiordesigns modeled after the South.The change in construction practices therehave likely started to flow into the North, influencing their home heatingsystems as well. AvatarChoi Song Min Residents look south to warm up this winter There are signs that North Korea is running into serious difficulties with its corn harvest US dollar and Chinese reminbi plummet against North Korean won once againlast_img read more

Updated: FSRA offers guidance on unlocking LIRAs and LIFs during Covid-19

first_img Related news The FSRA guidance noted that, generally, money held in pension plans, LIRAs or LIFs is required to be used to provide a retirement income and is inaccessible for any other purpose. However, there are a variety of exceptions under which money may be withdrawn.Pension plan membersUnder the PBA, pension plan members may be able to unlock money from their DB plans in limited situations of shortened life expectancy. Eligible individuals considering taking such a step should contact the administrator of the plan for available options, FSRA advised.Terminated members whose benefit remains in the planAn individual whose employment and plan membership has ended, but who has left their pension benefit in the plan (as opposed to having transferred it out), may still have the option of transferring the value of the pension to a LIRA or LIF, depending on the terms of the plan and the individual’s age.Once the value of the pension benefit is transferred to a LIRA or LIF, money may be accessible in certain circumstances. Notably, if a terminated plan member is eligible and elects to transfer to a LIF, they are then able to unlock up to 50% of the amount transferred into the LIF, but only within the first 60 days after the transfer.Terminated members whose benefits have already been transferred to a LIRA or LIFUnder the PBA, specified amounts of money may be unlocked from LIRAs and LIFs under existing “financial hardship” unlocking rules, which “are administered by the financial institution that holds your LIRA or LIF (not FSRA), and they are flexible enough to apply to many situations resulting from Covid-19 pandemic,” according to FSRA’s guidance.There are four categories of potential financial hardship: medical expenses; arrears of rent or debt secured on a principal residence (such as a mortgage); first and last months’ rent; and low expected income.FSRA gave an example of a LIRA or LIF owner who has fallen behind on rent after being laid off as a result of Covid-19. That individual could apply to their financial institution to unlock enough money in the LIRA or LIF to pay the rent arrears and 12 months’ worth of future rent, as long as they have been given a written demand by the landlord to pay the arrears.LIRA and LIF owners may apply for one unlocking application per category of financial hardship per individual. However, medical expenses allow for withdrawals related to multiple individuals.“Covid-19 financial hardship could lead to permitted unlocking under multiple categories – for example, an individual who is unlocking due to rent arrears may also qualify for unlocking due to low expected income,” according to FSRA’s guidance.In the guidance, FSRA said that it won’t object to financial institutions or administrators proceeding without a witness on a financial hardship unlocking form if the individual making the application is unable to get a witness to sign the form in their physical presence. However, FSRA indicated that institutions or administrators might require supplementary processes, such as virtual witnessing, to address liability risk.If funds available under “financial difficulty” categories are insufficient, an individual with a LIRA may transfer an amount to a LIF, if they are eligible to do so, and then have the opportunity to unlock 50% of the value of the LIF during the 60-day window, says Lea Koiv, president of Lea Koiv & Associates Inc. in Toronto and a tax, pension and retirement planning specialist. Koiv points out that a LIF can be applied for as early as Jan. 1 of the year preceding the year in which the member would have been able to draw a retirement pension.However, “consideration has to be given to whether those in financial difficulty […] should access funds in a locked-in plan,” Koiv said. Accessing money from LIRAs and LIFs may have adverse tax and long-term retirement planning consequences, she said.Indeed, FSRA pointed out in its guidance that money withdrawn from a LIRA or LIF will need to be included in taxable income in the year withdrawn and is subject to withholding tax. In addition, withdrawn amounts no longer receive creditor protection under the PBA. Finally, financial institutions may charge a fee to unlock accounts.Individuals considering unlocking a LIRA or LIF, Koiv said, should also keep in mind that withdrawing amounts from a LIRA or LIF may affect access to other government benefits, if a higher net income for the year leaves them ineligible for those benefits. Unlocking LIRAs or LIFs may also mean cashing out of investments at a time when market values are depressed; individuals will lose out on the opportunity to benefit from a recovery and build savings for their retirement, Koiv said.The FSRA guidance suggested that anyone considering unlocking money from a LIRA or LIF should “obtain independent financial and/or investment advice to discuss your personal circumstances.” Keywords Pensions,  Coronavirus Covid vaccine-sharing discussions to dominate G7 summit talks Virtual meetings to continue post-pandemic in B.C. Facebook LinkedIn Twitter Ontarians experiencing financial difficulty resulting from the Covid-19 pandemic may be able to access money from their company pension plans, their Locked-in Retirement Accounts (LIRAs) or their Life Income Funds (LIFs) if they are eligible under the rules governing their pension plans or under Ontario’s Pension Benefits Act (PBA).Last week, the Financial Services Regulatory Authority (FSRA) of Ontario offered guidance to pension plan sponsors, administrators and advisors, as well as current and former members of pension plans, in regard to questions they may have about their plans during the pandemic. Rudy Mezzetta Desjardins posted big gains in Q1 Share this article and your comments with peers on social media Couple getting financial retirement advice from consultant at home alexraths/123RFlast_img read more

New program to provide 600 Tasmanians with aged care and disability support training

first_imgNew program to provide 600 Tasmanians with aged care and disability support training Jeremy Rockliff,Minister for Education and TrainingThe Tasmanian Government is committed to ensuring we have the skilled workforce to meet the needs of our growing businesses as part of our plan to secure Tasmania’s future.Applications will open this Saturday for the new training fund, announced in the Premier’s State of the State address, to skill people to work in the growing Aged Care and Disability Support sectors as part of our $20.5 million package to help Tasmanian workers into jobs.The new Rapid Response – Careers in Aged Care and Disability Support will provide skills and career pathways for 600 Tasmanians. It comes in response to a key recommendation of the Premier’s Economic and Social Recovery Advisory Council (PESRAC) Report.Community services and health is the state’s largest employing sector (16 per cent of total employment in 2020) and is projected to grow by 11 per cent by 2024.The main focus of the Rapid Response Skills Initiative is to transition unemployed and underemployed workers to areas with emerging employment opportunities in the aged care and disability sectors.The program will provide fee free funding for individuals to gain skills through the Certificate III in Individual Support which is recognised as the critical qualification in the Aged Care and Disability sectors.Endorsed Registered Training Organisations are eligible to apply with applications closing on Friday, 23 April 2021. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:aged care, AusPol, Australia, career, community, community services, council, disability, disability sector, education, employment, Government, Minister, Premier, Skills, TAS, Tasmania, Tassie, workforcelast_img read more

Ram is bringing back the ‘Warlock’ factory custom

first_img The 2019 Ram 1500 Classic Warlock ditches the wood and gold stripes, but does offer “Warlock” hood and bed decals, powder-coated front and rear bumpers, 20-inch semi-gloss black wheels and a one-inch lift kit.Also part of the package is the Rebel’s R-A-M grille, black fender flares and blacked-out badging and headlight frames; a Sport hood is optional.“The Ram Classic 1500 Warlock is proof positive that value never goes out of style,” said Reid Bigland, President and CEO, FCA Canada.“With its sinister monochromatic exterior, award-winning interior and great price, this mean machine is certain to resonate.” FCA Canada took the covers off of the reborn Ram 1500 Warlock at the Toronto’s auto show this Valentine’s Day, resurrecting a decades-old badge from back when Dodge used to make “Adult Toys.”That’s what the automaker once called its line of trucks for young buyers that wanted a machine with a cool custom look—that wanted to have a little fun, even if they were all growed up.From 1976 through ’79, for example, Dodge’s Warlock offered buyers a trick pickup that came from the factory with “bucket seats, fancy wheels, fat tires,” and real oak sideboards along the bed, all finished with gold pinstriping. Created with Raphaël 2.1.2Created with Raphaël 2.1.2 The 2019 Ram 1500 Classic Warlock  Handout / FCA Canada RELATED TAGS1500RamPickup TruckTorontoNew VehiclesToronto & GTAToronto CIAS We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. COMMENTSSHARE YOUR THOUGHTS Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” ‹ Previous Next › advertisement Trending in Canada The Ram 1500 Classic Warlock will come in either 4×4 Quad Cab with the 6’4” cargo box; or in a Crew Cab 4×4 with the 5’7” cargo box. With the Pentastar V6, it’ll start at $51,715; and with the HEMI $53,615.While the ’70s Warlocks came generally in black, when the new one goes on sale later this spring, it’ll be available in any colour. last_img read more