Category: mqmfhyxg

Norwegian roundup: KLP, transfers, Finanstilsynet

first_imgNorwegian pension fund KLP saw an influx of 150 corporate and 16 local authority pension scheme transfers in the third quarter of this year following the withdrawal of major providers from the public sector pensions market.In interim results, the public service pensions giant said the transfers, which took place between July and September, represented NOK10.4bn (€1.2bn) of funds, and brought the total new membership inflow this year to 132,000 individuals.The transfers are a continuing effect of the decisions by Storebrand and DnB Livsforsikring to withdraw from the public occupational pensions market, leaving KLP as the only provider in the sector.However, Norwegian public bodies also have the option of setting up their own pension funds for staff. In June, KLP predicted its membership would grow by a total of 150,000 in 2014.It said that, of the 18 municipalities that still have their pension scheme with other providers, 16 of these had asked KLP to make them an offer with a view to transferring on 1 January 2015.Sverre Thornes, chief executive, said: “This migration represents one of the biggest ever influxes of new members to KLP’s pension schemes.”He said the company was responding to the changed market situation with continued focus on value creation through good returns, low costs and good service.KLP reported an overall return from January to September of 4.9% but said equities made almost nothing in the last three months of the period.Over the whole of the nine months, equities, short-term bonds and property were the primary contributors to the positive return.Total assets grew to NOK470bn from NOK399bn at the end of December.The nine-month return compares with 4.5% in the same period last year.Meanwhile, the Norwegian Financial Supervisory Authority (Finanstilsynet) warned that Norwegian pension funds and life insurers faced major challenges in the next few years, despite making strong returns so far this year.In its 2014 financial trends report, the supervisor said rising stock prices and capital gains on bonds had brought good results for pension institutions so far this year. “However,” it added, “the institutions face major challenges in coming years.”Low interest rates are making it difficult for them to secure a return above the guaranteed minimum rate, it said.“Although the volume of defined contribution pensions is rapidly growing, the bulk of life insurers’ liabilities still consists of contracts providing a guaranteed annual return,” the report went on.Other problems facing the sector are low interest rates, the effects of Solvency II regulation and rising longevity, it said.When Solvency II takes effect in the EU on 1 January 2016, it will bring substantially higher capital charges for a number of life insurers, Finanstilsynet said.“The latter must either reduce risk or increase their capital to meet the new requirements,” it said.Noting that the directive amending Solvency II – Omnibus II – allowed some relaxation of the requirements because of the difficulties facing many life insurers, the Norwegian supervisor indicated it would take advantage of this leeway.“Finanstilsynet has recommended applying some of these relaxations to Norwegian life insurers to give them more time to adapt to the new capital requirements,” it said.last_img read more

Friday people roundup

first_imgPensions-Sicherungs-Verein, UBS Asset Management, Transparency Task Force, Legg Mason, Standard Life InvestmentsPensions-Sicherungs-Verein (PSV) – Marko Brambach will be joining the board of the €5.5bn rescue fund for pension schemes in Germany and Luxembourg as of 1 January 2017. He replaces Hermann Peter Wohlleben, who will be retiring at the end of December after more than 20 years of service for the statutory body. Brambach is general counsel at insurance company Talanx, and head of the legal and tax department for Talanx’ retail business in Germany. He holds several non-executive director positions at Talanx subsidiaries that provide workplace pension scheme solutions, such as HDI Pensionskasse AG and HDI Pensionsfonds AG. Transparency Task Force (TTF) – Jackie Beard, director of manager research services, EMEA at investment research and rating firm Morningstar, has been named an Ambassador for the TTF, a campaign group aiming to increase transparency in the financial services, with a strong focus on fees. Beard has been at Morningstar since 2008.UBS Asset Management – Tim van Duren has been appointed executive director, with responsibility for institutional sales in Benelux and Denmark. He joined from Schroders, where his most recent role was as product manager for insurance-linked securities. Legg Mason – Andy Sowerby has been appointed head of Australia for the asset manager, with responsibility for building and managing the company’s local fund business there. Sowerby had been with Legg Mason affiliate Martin Currie for the past 11 years, as executive director for sales, marketing and client service. Before that he was at Investec Fund Managers. Sowerby replaces Annalisa Clark, who retired as head of Australia in July 2016.Standard Life Investments – Marc Brammer and Sophie Rahm have been hired as responsible investment analysts. Brammer joins from Inflection Point Capital Management, having previously been at MSCI Inc, and Rahm joins from Schroders. They will report to Amanda Young, head of responsible investment.last_img read more

Higher production, divestments boost Petrobras’ 3Q result

first_imgBrazil’s Petrobras reported an increase in 3Q net income, largely reflecting the increase in oil and gas production and the capital gain from the sale of fuel distributor BR Distribuidora.Net income attributable to Petrobras’ shareholders for the quarter was R$9,1 billion, up from R$ 6,6 billion in the third quarter of 2018.Petrobras said that in 3Q, the sharp drop in Brent was mitigated by the good operating performance and by the increase in pre-salt share in total production (60.4% of oil production in the quarter).According to the CEO Roberto Castello Branco, oil and gas production reached a record level of 3.0 MMboed in August, when a daily record of 3.1 MMboed was also reached, and the cost of the lifting of pre-salt oil dropped to only five dollars a barrel.“The ramp-up of the new platforms significantly influenced production growth, with pre-salt accounting for 60.4% of Petrobras’ total oil production in Brazil…Pre-salt cash cost (lifting cost) reached an unprecedented level of US$ 5.0 per boe, which contributed to the company’s average lifting cost averaging less than US$ 10 per boe (US$ 9.7 per boe),” the CEO said.In 3Q19, investments in the Exploration and Production segment totaled US$ 1.9 billion, down from $3.4 billion a year ago.According to data shared by Petrobras, 50 percent of its oil product exports went to the U.S., while 64 percent of its crude oil exports went to China.Debt reduced but still heavyCommenting on  Petrobras’ debt, the CEO said: “Petrobras’ gross debt reached US$ 90 billion on 9.30.2019 against US$ 101 billion at the end of 2Q19, which happened to be equal to Argentina’s current foreign debt… However, we have to recognize that much remains to be done, we are only at the beginning of a journey with many importantobstacles to overcome. We are still a heavily indebted company with high costs in an industry that faces major challenges in a global scenario of rapid changes and growing interdependence between different economic activities.”“Recognition of our deficiencies increasingly encourages us to work towards becoming the best energy company in generating shareholder value, focused on oil andgas, with safety, respect to people and to the environment.”Petrobras concluded the public offering of BR Distribuidora shares in July, which, together with the cash inflow from the Pargo cluster sale, signed in 2018, resulted in a cash inflow of US$ 2.9 billion in 3Q19. In addition, Petrobras has signed contracts for the sale of shallow and terrestrial water fields for a total of US$ 213 million.“These transactions, although of low values relative to the total of the portfolio of divested assets, are of paramount importance for efficient portfolio management and cost savings, as they are non-core assets. These sales have contributed to our total US$ 15.3 billion in total signed and completed divestment transactions by 2019 to date,including transactions signed in 2018 and completed 2019,” Petrobras said.Offshore Energy Today StaffSpotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.Also, if you’re interested in showcasing your company, product, or technology on Offshore Energy Today, please contact us via our advertising form, where you can also see our media kit.last_img read more

Chelsea ‘open talks with Jadon Sancho’ ahead of summer switch

first_imgBut the signing of the Morrocan has not stopped Frank Lampard’s men from pursuing 19-year-old England international Sancho.Liverpool, Manchester City and Manchester United have also been credited with an interest in the Dortmund winger, who has scored 13 goals and recorded 13 assists in 20 matches this season.But the report claims Chelsea have stolen a march on their Premier League rivals in a bid to secure the boyhood Blues fan’s signature.France Football also claim that Dortmund could receive a club-record fee for players sold for Sancho. Read Also: Bayern Munich star Alaba dreams UCL revenge against ChelseaThe Bundesliga side sold fellow winger Ousmane Dembele for an initial fee of £89.5million in the summer of 2017.But a move to the Premier League for Sancho this summer could see that fee superseded.Sancho’s excellent form this season continued on Friday night as he netted Dortmund’s second in their 4-0 win against Eintracht Frankfurt.FacebookTwitterWhatsAppEmail分享 The Blues brought in Ajax midfielder Hakim Ziyech earlier in the week to strengthen their creative options for next season. Chelsea have opened talks with the representatives of in-demand Borussia Dortmund star Jadon Sancho, according to France Football.Advertisementcenter_img Loading… Promoted ContentWhat Is A Black Hole And Is It Dangerous For Us All?9 Facts You Should Know Before Getting A TattooThe World’s 7 Most Spectacular Railway StationsGreatest Movies In History Since 1982Couples Who Celebrated Their Union In A Unique, Unforgettable Way10 Risky Jobs Some Women DoA Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This DayWho Is The Most Powerful Woman On Earth?10 Hyper-Realistic 3D Street Art By OdeithIf Zodiac Signs Were Women: Amazing Artwork By Vivien Szaniszlo10 Of The Most Successful Female Racers To Know AboutHere Are The Top 10 Tiniest Mobile Phones On The Planet!last_img read more

Celtic linked Awoniyi nears switch to Bundesliga outfit

first_img Greek side PAOK Salonika recently decided against tabling a bid for him and he has also been linked with a move to Scottish champions Celtic. But according to German daily Bild, the striker is expected to be on his way to Bundesliga with Union Berlin. It has been claimed that the German top tier outfit are close to working out an agreement to sign him from Liverpool. Loading… Promoted Content9 Facts You Should Know Before Getting A Tattoo12 Marvel Superheroes When They Were Kids6 Incredibly Strange Facts About HurricanesThe Best Cars Of All Time7 Ways To Understand Your Girlfriend BetterThis Guy Photoshopped Himself Into Celeb Pics And It’s HystericalThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreBest & Worst Celebrity Endorsed Games Ever MadeA Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This DayA Hurricane Can Be As Powerful As 10 Atomic Bombs2020 Tattoo Trends: Here’s What You’ll See This YearTop 10 Most Romantic Nations In The World Read Also: Bayern Munich thrash Schalke 8-0 in historic Bundesliga startIt is likely to be a loan deal and Awoniyi is ready to move to the Bundesliga again, where he made 12 appearances last season for Mainz.Interestingly, Union Berlin sold Sebastian Andersson earlier in the window and are working to sign the Nigerian as his replacement.FacebookTwitterWhatsAppEmail分享 Celtic linked Nigerian forward Taiwo Awoniyi is close to agreeing on a loan move to Bundesliga outfit Union Berlin from Liverpool. Liverpool signed the former Flying Eagles forward in 2015, but five years on he is yet to play a game for the Reds and has been on loan spells at FSV Frankfurt, NEC Nijmegen, Mouscron and Gent, with obtaining a work permit an issue. He spent last season on loan in the Bundesliga with Mainz and ahead of next month’s transfer deadline, Liverpool are again looking for a solution for the Nigerian.Advertisementlast_img read more

Time change this week

first_imgIt is that time of year where we “Spring forward” and move our clocks ahead one hour.  Daylight Savings time makes its changes at 2 am this Sunday, March 8.last_img

Gerrard: Reds must sign up Rodgers

first_img That the club find themselves in a title race less than two years after Rodgers took over with the Reds in eighth is a remarkable feat and while the manager himself is remaining cool on their bid for the championship and his new contract, Gerrard is in no doubt. “He has been a revelation. He keeps tinkering and tweaking formations, making little changes to personnel and pulls it off,” said the England captain. “He is a young coach who has earned the right to become Liverpool manager and from week to week he is improving and he has been an absolute breath of fresh air to this club. “I never judge a player, a manager or a member of coaching staff before I have actually met them face-to-face and when you see them day to day I have been absolutely blown away by the sessions, by his maturity in the job. “I am learning off him every day. When you become a more experienced player you look to see how the manager does – if he does the same things. “He has been fantastic for myself and I am sure the (other) players will echo what I am saying. “We are absolutely delighted he is here and I just hope there is a lot of movement in Boston (the home of principal owner John W Henry) now as we speak because they have got to get him signed up as soon as possible. “When players are in this situation with a year to go you want to keep hold of them so desperately, the club react really quickly and get it sorted, and for me I think he deserves a very long contract here and I think he is perfect for this club.” The Reds boss has just over a year left on his current agreement, although there is an option for a 12-month extension. Such has been the progress this year it seems inevitable the Northern Irishman will be rewarded with a longer, more lucrative deal. Sunday’s 3-0 demolition of arch-rivals Manchester United at Old Trafford – their first since 2009 and only the 16th league success at the ground in 118 years – was just another indicator of the strides being made. Rodgers faced a testing six months when he took over from club icon Kenny Dalglish in the summer of 2012 but since January last year the club have been on an upward curve which shows no signs of slowing. Having introduced his own style of working, relying on high-tempo pressing and increased possession of the ball, he and his side are now reaping the benefits. And Gerrard thinks the belief he has given the squad has been key. “He manages every single player. He knows we have different characters in the dressing room,” added the 33-year-old. “His one-on-one management is the best I have known. He makes you go out on to the pitch feeling a million dollars, full of confidence and belief. “When you play for Liverpool you have to accept pressure, take it on the chin and perform, but when you have a manager who is making you feel good and who is not scared of giving you a good one-to-one telling off as well he has the perfect ingredients.” Gerrard said a tightly-knit squad was also helping them get through testing situations, scenarios which will increase in frequency as the second-placed Reds try to haul in leaders Chelsea. The Blues are four points ahead of Liverpool, having played one match more, and still have to visit Anfield. “The manager is very keen on team spirit, togetherness,” said the midfielder. “When you’re working together and trying to achieve things together it’s important you stick together and you laugh and enjoy it as you go along. “But you can only get that togetherness and happiness when you do that dirty work, you work hard for each other and you go that extra mile and that is what these players are doing for each other. “We have had our difficult times and at the moment we need to enjoy the way we are playing and try to continue it and try to bring success because that is how eventually we will be judged.” Liverpool captain Steven Gerrard has called on owners Fenway Sports Group not to waste any time in giving manager Brendan Rodgers a new contract. Press Associationlast_img read more

Don’t want to engage with ‘clever’ Kohli on the field, says Matthew Wade

first_imgMELBOURNE: Australia wicketkeeper-batsman Matthew Wade feels engaging with Virat Kohli on the field only gets the better out of him and that is why he will try and refrain from trying to get under the India skipper’s skin when the two teams clash later this year.India, under Kohli in the 2018/19 series, became the first Asian side to beat Australia in a Test series in their own den. The series featured stellar performances from batsmen Cheteshwar Pujara, Rishabh Pant and Kohli and the fast bowling battery featuring Jasprit Bumrah, Mohammed Shami and Ishant Sharma. The four Tests of this year’s much-anticipated Border-Gavaskar are scheduled to be played at Gabba, Adelaide Oval, MCG and the SCG respectively starting December 3. Wade, who wasn’t part of the Australia squad that conceded the Test series last time India toured Down Under, also stated that couple of players in the Indian dressing room thrive off confrontation energy on the field and make it work in the team’s favour. “I’ll go out and play the way I like to play. We certainly don’t go out chasing it. If it comes our way then you deal with it out on the field,” Wade told reporters via video conference as per ESPNcricinfo. “Virat is very clever in the way he uses his words or his body language, so they (India) use it as an advantage. To be honest I don’t want to engage too much into that, I know they thrive off that energy which comes from two (confronting) players. They are probably as good at doing that as anyone in the world at the moment, so it’s something I might stay away from this time,” he added. Wade also spoke about the prospect of playing matches behind closed doors in the wake of coronavirus pandemic. He stated that players don’t mind it once the game begins but it does feel different while walking out and there is no one present in the stands to cheer them on. IANS Also Watch: OIL Authorities Say Efforts on To Control the Firelast_img read more

USC now looks to Stanford

first_imgAfter a 49-31 win over Western Michigan in a blistering Coliseum on Saturday, USC shifted its focus to beating Stanford on Tuesday. In his post-practice press conference, head coach Clay Helton praised the upcoming opponent. “Having a chance to watch them the past few days, it’s the same thing as usual,” Helton said. “It’s a very well-disciplined, very physical team under [head coach] David Shaw.” The Trojans’ first Pac-12 game will be a big test and will tell a lot about where the team stands at the moment. Darnold looks to bounce backIn what was hyped up to be the beginning of redshirt sophomore quarterback Sam Darnold’s Heisman campaign, the quarterback had what he considered a bad day. While Darnold threw for 289 yards, he also threw two interceptions.“I think my emotions kind of got the best of me there,” Darnold said. “I thought I made the right decisions but I just need to put the ball in a better placement.” While Darnold wishes he had some throws back, he’s moved on, focusing on preparing for Stanford instead. “The thing I love about Sam Darnold is that he’s always so hard on himself,” Helton said. “He’s a perfectionist and wants to do better.”Defense Looks to Step Up After receiving praise all spring and fall camp, USC’s defense struggled out of the gate. Helton cited mental mistakes that contributed to their poor defensive performance. “We had some alignment errors, lost gap control and then we missed a tackle or two out in space,” Helton said. “If you combine any of those three things, it’s going to make for a hard day, but we let all three of them happen.” Junior running back Bryce Love will lead the Stanford rushing attack, and USC’s defense must find answers after giving up 263 rushing yards to the Broncos. USC’s defense let its frustration spill over into Tuesday as a handful of scuffles broke out. Junior cornerback Isaiah Langley and redshirt freshman wide receiver Tyler Vaughns got into it after a whistle, and then later on redshirt freshman wide receiver Josh Imatorbhebhe mixed it up with sophomore cornerback Jack Jones.“I know defensively they’re mad,” Helton said. “They’re ready to play. They have a pride about playing good physical football and that wasn’t them on Saturday.” After the extra pushing and shoving, Helton called his team to huddle up. “This field is about competition,” he said. “But I just wanted to remind them to make sure that we’re making good decisions in games and not a decision that will cost us 15 yards.” Repeat the Running Game After gaining 232 yards on the ground in the season opener, the Trojans look to continue their success running the ball. Junior running back Ronald Jones II led the group, but the coaching staff emphasized that the depth of the group is an asset. Freshman Stephen Carr broke off a long touchdown run in his USC debut, redshirt freshman Vavae Malepeai was productive when he had the ball and the coaches also trust junior Aca’Cedric Ware. “We feel really good about having four running backs that we can hand the ball off,” Martin said. “They are a really close knit group. No one is mad about the other guy getting balls and reps. They’re all playing and we’re really happy about where we are at the running back position.” Rankings Slip The latest AP Rankings came out on Tuesday. The new rankings have the Trojans falling from No. 4 to No. 6 in the country. Stanford’s rank stayed at No. 14. Injury ReportAfter suffering a knee contusion in the first half against Western Michigan, junior offensive lineman Chuma Edoga fought through pain and finished the game. On Tuesday, he was limited in practice. Helton said he will most likely be available on Saturday, but won’t see the same number of snaps. Redshirt sophomore tight end Daniel Imatorbhebhe played but was still a little banged up on Saturday. As he gets healthier, Helton says he will be integrated more into the passing game. Freshman safety Bubba Bolden is doubtful after injuring his knee on Saturday.last_img read more

Deeper Integration…Sky Betting & Gaming extends platform partnership with NYX Gaming

first_imgShare Related Articles GambleAware donations top £10m for 2019/20 April 21, 2020 StumbleUpon Submit Flutter finalises TSG merger agreement May 5, 2020 Share Perelman fund reviews majority shareholding in Scientific Games July 16, 2020 Updating the market, Sky Betting & Gaming (SB&G) has confirmed that it has extended its lead platform provider partnership with NYX Gaming’s OpenBet systems.The renewal of partnership follows the successful launch of Sky Bet Italia in Q4 2016 on the OpenBet platform. NYX detailed that moving forward it would support SB&G’s international market initiatives, building a full roadmap of activity to support the rollout of new features and functionality working alongside the operator’s sportsbook team.The partnership will further see a deeper integration of NYX’s Open Gaming System (OGS) with SB&G’s UK and Italian online casino properties. NYX OGS aims to deliver 36 new gaming titles to SB&G properties per year and giving its partner access to over 1000 games titles.In 2016, SB&G acted as a deal funding co-partner for NYX Gaming £270 million acquisition of leading industry sports betting platform provider Openbet.Richard Flint, CEO of Sky Betting and Gaming, commented on the extension: “NYX Gaming Group, via OpenBet, has been an integral component of our business since day one, the performance and stability of the platform.“NYX Gaming Group, via OpenBet, has been an integral component of our business since day one, the performance and stability of the platform is key to our best-in-class customer experience.“Enhancing that customer experience is a core focus for Sky Betting and Gaming and the strengthening of the relationship with NYX is another big step towards our objective to build the best casino in the market.“NYX is a premium developer and we are thrilled to be able to offer their highly popular games to our players, giving our customers more options alongside our own proprietary games.”A pleased Matt Davey, CEO of NYX Gaming Group, backed Richard Flint’s statement: “We’re pleased to announce a strengthening of our relationship with the team at Sky Betting and Gaming, and to further support their impressive growth.  “This partnership is significant to NYX, representing a firm endorsement of the group as a whole, and emphasising the vital role it plays for the industry’s most successful operators around the world.“It also reaffirms NYX’s commitment to building our partnerships and maximising the relationships across a number of different areas to deliver optimum value to our clients. The closer we work with customers to develop our relationships, the better we can tailor our products to deliver improved growth for our respective businesses.” Work will also begin work to integrate Core Gaming’s casino content into NYX’s casino offering. This will give Core access to over 200 operators and the full-suite of tools and technology through NYX’s OGS platform.”last_img read more