Dutch government withdraws controversial merger bill

first_imgIt cited the stringent conditions attached to a merger, which would have allowed schemes to temporarily keep their assets ringfenced if the coverage ratio differed too much, allowing different funding levels to gradually converge within a five-year period.Several political parties linked their criticism to objections voiced by the sector.In October, the Dutch Pension Federation asked the government to withdraw its bill, because of the multitude of constraints set for a merger between sector schemes.It highlighted the condition that merger partners with assets above €25bn would be excluded from the proposed rules, limiting the options for small pension funds to join larger ones.Speaking to Dutch financial newspaper FD, Pension Federation director Gerard Riemen said that, under the proposed rules, six smaller schemes in the building industry would not be allowed to join the €56bn BpfBouw, the main scheme for the sector.In addition, the planned legislation required potential merger partners to be affiliated and that no more than five pension funds could merge into a new scheme.Moreover, merger partners would have to split up if their funding levels failed to converge within five years.The federation also indicated that the proposed solutions for bridging funding differences between merging schemes, and letting participants benefit from increased scale, were not workable.The Pensions Federation said it was pleased with the minister’s decision to withdraw the bill. The Dutch government has abandoned legislation aimed at enabling mandatory industry-wide pension funds to merge.In a letter to parliament, social affairs minister Wouter Koolmees said he would consider alternatives to achieving benefits of scale for sector schemes that wanted to consolidate.The decision followed fierce criticism of the proposed bill from both the pensions sector and parliament. All said that the legislation – tabled by the previous government – would make mergers needlessly complicated.Last April, the lower house of the Dutch parliament welcomed additional options for consolidation in the pensions sector, but had also made clear that the proposed legislation was the wrong instrument.last_img read more

CHEQUE PRESENTATION GOES SWIMMINGLY FOR LEENAN BAY DIPPERS!

first_imgAnnette Kelly (left) organiser of Christmas Day Swim Leenan Bay, Urris, Clonmany with Anne Marie Fogarty and Eilish Kelly (who participated in the swim) presenting the 2012 proceeds cheque of €2,200 to Palliative Care Nurse, Inishowen Louise Duddy, (right) CNS on behalf of the Donegal Hospice at the Ballylffin Lodge Spa Hotel. Annette wishes to acknowledge her thanks to all who helped and participated in the swim. Photo C Giblin.CHEQUE PRESENTATION GOES SWIMMINGLY FOR LEENAN BAY DIPPERS! was last modified: February 21st, 2013 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Christmas swimclonmanydonegal hospiceLeenan Baylast_img read more

Telkom’s $63m African expansion

first_img12 November 2008South African telecommunications company Telkom is to acquire the whole of Mweb Africa and 75% of Mweb Namibia from Multichoice Africa and MIH Holdings – both Naspers group companies – respectively, for US$63-million (about R646.8-million), as part of its strategy to expand outside South Africa.Telkom CEO Reuben September said the transaction would give further impetus to the company’s strategy of becoming a pan-African integrated service provider.“Expanding beyond the borders of South Africa provides Telkom with an opportunity to become less dependent on domestic revenue streams,” September said in a statement this week.Mweb AfricaMweb Africa is an internet service provider in sub-Saharan Africa, excluding South Africa, and also provides network access services in some countries. It is headquartered in Mauritius, with operations in Nigeria, Kenya, Tanzania, Uganda and Zimbabwe, an agency arrangement in Botswana, and distributors in 26 sub-Saharan countries.Although the company’s operations are largely focused on corporate customers, Mweb Africa’s predominantly satellite-based internet access offerings allows the company to reach a wide range of customers, many of whom are not reached by traditional fixed-line infrastructure.African expansionIn February last year, Telkom acquired Africa Online, an internet service provider active in Cote d’Ivoire, Ghana, Kenya, Namibia, Swaziland, Tanzania, Uganda and Zimbabwe, for £10.32-million.In May the same year, Telkom acquired 75% of Nigerian-based Multi-Links Telecommunications for $280-million, giving the company a strong foothold in the Nigerian telecoms market, as well as providing it with a springboard for expansion into West Africa.“This acquisition, together with Telkom’s investment in Africa Online, is expected to increase the value proposition of our product and service offerings to all customer segments in Sub-Saharan Africa,” September said.“Telkom’s position as partner of choice for connectivity and related services in Africa is expected to be strengthened.”The transaction is subject to several conditions, including regulatory approvals being obtained in certain African jurisdictions.SAinfo reporter Would you like to use this article in your publicationor on your website?See: Using SAinfo materiallast_img read more

Levi dela Cruz steps out of Salado’s shadow to lead Chiefs

first_imgLevi Dela Cruz. Photo by Tristan Tamayo/ INQUIRER.netIt’s no secret that Arellano will live and die by Kent Salado this NCAA Season 93.But it doesn’t mean that there’s no contingency plan for the Chiefs.ADVERTISEMENT SEA Games: PH’s Alisson Perticheto tops ice skating short program SEA Games in Calabarzon safe, secure – Solcom chief LATEST STORIES LIST: Class, gov’t work suspensions during 30th SEA Games Trending Articles PLAY LIST 00:50Trending Articles02:02Chief Justice Peralta vows to lead by example, bares 10-point program01:31Go: Search for ‘perfect, honest man’ to lead PNP still on01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games WATCH: Streetboys show off slick dance moves in Vhong Navarro’s wedding Catriona Gray spends Thanksgiving by preparing meals for people with illnesses Don’t miss out on the latest news and information. Brace for potentially devastating typhoon approaching PH – NDRRMC Enter 22-year-old Levi dela Cruz.The diminutive Davaoeño playmaker has bid his time playing behind the spitfire guard all season long but he stepped out of the shadows on Friday to help Arellano nab the 87-81 come-from-behind win against St. Benilde.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutDela Cruz exploded for 24 points, 12 coming in the fourth quarter in the Chiefs’ huge fightback against the Blazers, on top of four assists, three rebounds, and a block.But the transferee credited his breakout performance to coach Jerry Codiñera, who has put a premium on team defense.center_img UPLB exempted from SEA Games class suspension “All they’re asking me is to do defense and pressure on the backcourt. Our offense will come. We’re not rushing things, but today, I think I was a little more aggressive because I was confident with the work I’m putting in after our practices,” he said.Dela Cruz has thrived in Codiñera’s frantic system with the Chiefs’ speedy backcourt that include Salado and Marwin Taywan able to terrorize the opposing team’s guards may it be on offense or defense.“I’m used to running teams like this, playing in transition so I believe I fitted quickly to the system,” he said, looking back at his previous stops in NU and UST before arriving in Arellano last year.Dela Cruz relishes his time with Salado the most, noting that the lead Chief has undoubtedly been “a role model” for him.“It’s really all Kent. He’s our senior. All I want is to do my role whenever I’m on the floor,” he said.ADVERTISEMENT MOST READ View comments San Miguel overcomes Globalport behind Santos’ heroics For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. But one good game isn’t enough, and Dela Cruz knows that he has to sustain this good showing if he wants to find his niche in Codiñera’s rotation moving forward.But more importantly, he and the Chiefs must exhibit poise in their drive to the Final Four in the second round.“We’re all positive. Coach Jerry encourages us to not be down, not get caught up by the losses and criticisms, and to stay positive,” he said.Arellano finishes its first round schedule in a Finals rematch against San Beda on Tuesday. Read Next LOOK: Venues for 2019 SEA Gameslast_img read more

Austin relishes second basketball life as part of Gilas

first_imgAnd if there’s one thing his sickness taught him, it’s to take every single minute with a renewed passion. “I wasn’t even supposed to be playing basketball so it’s a second go around for me,” said Austin Thursday at Meralco gym. “It’s a second go-around for me so I take every day very seriously.”FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games opening“I know what it’s like to have the game of basketball taken away from you so I’m not taking anything for granted.”Austin averaged 12.1 points, 6.9 boards, and 2.4 blocks per game in his time with Baylor and these types of numbers was what attracted the likes of Chot Reyes to take notice of the 7-footer. Lacson: SEA Games fund put in foundation like ‘Napoles case’ MOST READ Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Trump signs bills in support of Hong Kong protesters Celebrity chef Gary Rhodes dies at 59 with wife by his side “Each day is a new day for me to get better somehow, some way.”Sports Related Videospowered by AdSparcRead Next Don’t miss out on the latest news and information. Robredo should’ve resigned as drug czar after lack of trust issue – Panelo ONE: Eustaquio won’t let foe use him as stepping stone NATO’s aging eye in the sky to get a last overhaul LATEST STORIES Celebrity chef Gary Rhodes dies at 59 with wife by his side Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Hotel says PH coach apologized for ‘kikiam for breakfast’ claim View comments Photo by Tristan Tamayo/INQUIRER.netIsaiah Austin had the sad reality of never realizing his NBA dream after Marfan Syndrome sidelined him for two years. More than three years after the NBA selected him as an honorary player, Austin gets to wear the Philippine colors as part of Gilas Pilipinas. ADVERTISEMENTlast_img read more

Videos: Louisville Owned SportsCenter’s Top 10 Plays After Dominating Syracuse

first_imgDonovan Mitchell throws down dunk against Syracuse..Twitter/@theACCDNMidway through the second half of Wednesday night’s 72-58 home win over Syracuse, the Louisville Cardinals were doing whatever they wanted on offense. The dominant display was heavily featured on SportsCenter this morning, where the Cardinals had three of the Top 10 plays of the day.First up, at No. 7, this beautiful behind-the-back assist by Chinanu Onuaku.Nanu droppin’ dimes. pic.twitter.com/7MFnoY0qRb— LouisvilleSportsLive (@LvilleSprtsLive) February 18, 2016Next, at No. 4, another Onuaku assist—this time to Jaylen Johnson for a powerful alley-oop.It’s like Louisville found a “if you make the other team cry they have to let you play in the tournament” loophole pic.twitter.com/m4kMWmXva4— Mike Rutherford (@CardChronicle) February 18, 2016And finally, Louisville took home the top play, with this ferocious alley-oop from Damion Lee to Donovan Mitchell.If you look close enough, you can see a smile on Donovan Mitchell’s face as he slams this one home for @GoCards!https://t.co/xlTSYEXZ08— ACC Digital Network (@theACCDN) February 18, 2016That one was just mean. Mitchell liked it so much, he made it the header photo for his Twitter profile. donovan mitchell twitterIt’s been a rough few weeks for the Cardinals. Last night’s big win had to be pretty cathartic.last_img read more

Mens hockey looks to bounce back against Bowling Green

OSU players celebrate after the Buckeyes first goal of the game against Miami (Ohio) Oct. 11 at the Schottenstein Center. OSU lost, 6-2.Credit: Matthew Homan / Lantern photographerComing off the wrong side of a two-game sweep at the hands of Miami (Ohio) this weekend, the Ohio State men’s ice hockey team is looking to bounce back as it travels to Bowling Green State University for a one-game bout.Despite giving up a combined 12 goals in their two losses against the Redhawks in coach Steve Rohlik’s first series at the helm of the team, the Buckeyes (0-2-0) are optimistic about their matchup with the Falcons (0-1-1).Junior forward Max McCormick said Bowling Green and OSU are “hard-nosed teams,” so the game is going to be a battle.“We didn’t let (being swept by Miami) get us down,” McCormick said. “We’re getting better every day and that’s our mindset, so we’re staying positive and we’re going into Bowling Green to get a win.”Despite the positive attitude, senior forward Alex Szczechura said playing away from Columbus will pose a challenge the team must overcome.“They’ve always been a hardworking team,” Szczechura said. “In their home rink, they’re a tough team to play. So coming into (Tuesday’s) game, we really just want to work hard and keep things simple, keep battling on the ice.”McCormick noted that penalties and maintaining possession were two issues the Buckeyes faced against Miami, among other things.“We really need to take care of the puck,” he said. “We worked on some things in the (defensive zone) and the neutral zone this week in practice and we brushed up on some things in the power play.”OSU is 12-1-3 against the Falcons in the teams’ last 16 meetings.The Buckeyes are slated to take on the Falcons Tuesday in Bowling Green, Ohio with the puck set to drop at 7:07 p.m. read more

Ranieri We deserved more

first_imgFulham manager Claudio Ranieri is left disappointed after their 1-1 draw with Wolves as they lost their lead in the late stages of the game.After a goalless first half, Ryan Sessegnon put Fulham ahead in the 74th minute, but with five minutes to go, Wolves midfielder Romain Saiss scored from close range after a shot rebounded off a defender.“We are a little disappointed because I think we deserved more from the first half because we created more than them,” Ranieri told the club’s website.“In the second half, after we scored a goal, they found a solution.“I’m satisfied with our performance, as we worked hard against a good team. It was a tactical match today.Premier LeaguePremier League Betting: Match-day 5 Stuart Heath – September 14, 2019 Going into the Premier League’s match-day five with a gap already beginning to form at the top of the league. We will take a…“Mitrović had a chance to win the match. In this moment, we need to continue to stay together and be positive.“When a team is bottom, everything goes against this team, but we are stronger than this. We want to react in every circumstance, in every match.“If we continue to fight, train well, understand the tactical movement, we’ll do better.“We try to find a solution, but if you continue to fight, you can change things. If you lose hope, you lose everything.“I believe in my players. For this reason, I believe we can make something good.”last_img read more