Pandemic to cause ‘immediate effect’ on INPS financial sustainability

first_imgThe COVID-19 pandemic will likely have an impact on the financial sustainability of the Italian pension system, in particular on the Istituto Nazionale di Previdenza Sociale (INPS), the main entity of the country’s public retirement system.Andrea Scaffidi, head of retirement for Italy at Willis Towers Watson, told IPE that the drop in contributions caused by the unemployed, salary cuts, and the increase in expenditure for INPS’ social security pay outs “will certainly generate an immediate effect on the financial stability of the institute, exposed to bigger expenses and lower income”.INPS may see its performance worsen with the need to finance its deficit.In general, Scaffidi added, the consequences of a macroeconomic crisis relate to the financial and the social sustainability of a pension system. Such effects usually progress slowly. INPS’ operating results in 2019 stood at -€7.2bn, with a deficit of €10.9bnFor pension funds, unemployment and wage cuts, among other things, have had and will certainly have effects on assets and net contribution flows.“This will imply a different investment capacity that has led and could lead to a drop in earning opportunities because of a lack of new resources to be used during a phase of reduction in the values of the securities, even if the main markets have had a ‘V shape’ performance” he said.Contributions in Casse di Previdenza, which are linked to salaries and income of self-employed enrolled in the Casse, will suffer a contraction and realistically the number of new members will be further impacted, Scaffidi said.INPS officials did not comment by time of publication.To read the digital edition of IPE’s latest magazine click here. This is true especially for the Italian system, which after its 2012 reform operates as a “contributory” system, Scaffidi added.INPS had already recorded negative results before the pandemic started to hit Italy hard in February and March of this year.Its operating results in 2019 stood at -€7.2bn, with a deficit of €10.9bn, and an allocation for legal reserves worth -€3.7bn, according to INPS’ latest financial statement.Paradoxically, according to Scaffidi, the financial situation at INPS will not in turn have an impact on pensioners.Reductions in pensions contributions during the crisis, however, will generate negative effects “pro-quota” on future benefits for pensioners, alongside a lack of, or limited, appreciation of the individual contributions based on lacklustre GDP growth.Contributions are reassessed annually according to the growth of GDP, and therefore of the country’s economy.“The financial sustainability of INPS is very worrying,” Scaffidi said, adding that aside from general taxation, INPS will need “a different plan for expenditures for pension or welfare benefits”.last_img read more

Report: RasGas postpones layoffs amid Qatar rift

first_imgFor illustration only; Liquefaction facilities at Ras Laffan (Image courtesy of Qatargas)Qatari LNG producer RasGas has reportedly pushed back a round of job cuts after the diplomatic crisis which erupted between Qatar and several of its Middle East neighbors in early June.Staff at the LNG producing giant were told earlier this year that they would be laid off in June, with the job cuts following last year’s decision by state-owned Qatar Petroleum to merge RasGas with Qatargas, Reuters informed on Wednesday.However, in a company email last month staff were informed that the job cuts had been delayed, the news agency reported citing two Rasgas employees as saying.It was not immediately clear whether the delay meant the entire merger had been postponed.LNG World News contacted RasGas to comment on the report. We will update the article once we receive a response.Qatar Petroleum’s chief executive Saad Sherida Al-Kaabi said in December last year the merger of RasGas and Qatargas, Qatar’s number one and two LNG producers respectively, would help to cut operating costs by hundreds of millions of dollars.Qatargas is the largest LNG producing company in the world, with an annual production capacity of 42 million tonnes per annum. RasGas has a production capacity of about 37 million tonnes a year.Both of the LNG producers are majority owned by Qatar Petroleum. US-based energy giant ExxonMobil has a 30 percent stake in RasGas.An official working at a Gulf energy company told Reuters on Wednesday that Doha was apparently postponing the layoffs because it needed to focus the attention of leaders and managers on the diplomatic crisis, which has disrupted some imports into the country.“I still think the job cuts will happen in the long run, as the Rasgas-Qatargas merger will go ahead and many of the jobs are duplicated across both organizations,” the official told Reuters.Worth mentioning, Qatar Petroleum said recently it aims to raise Qatar’s LNG production from 77 million to 100 million mt per year.The new additional volumes will be secured by doubling the size of the new gas project in the southern sector of the North Field, which Qatar Petroleum had announced last April.Qatar is facing a growing competition from a tide of new LNG sources mostly coming from Australia and the US.This move shows that Qatar is not willing to easily let go the title of world’s largest LNG exporter. LNG World News Stafflast_img read more

Lady Cats Win Against Lady Tigers

first_imgThe Lady Wildcats Golf team was back in action tonight for the first time in over a week. They took on the Lawrenceburg Tigers at Brook Hill Golf Club. They were able to continue their undefeated season with another dominating win 178-225.Dana Branstetter was low medallist with a score of 39. Other Lady Wildcats scores. Kendyl Brack-45, Abby Orschell-45, Maggie Brack-53, Gracie Graf-49, Aslan Hill-60, Jade Allen-56, Camryn Brewer-52, Sam Ebrens-54, Erin Hesselbrock-56.“Although we have been off for over a week we still came out tonight and performed well on Brook Hills back nine. It was good to get out and play a different course than what we are used to so we can prepare for going on the road to our conference tournament this weekend.” Wildcats Coach Marissa Mears.last_img read more

Sneijder: Inter Milan can win Coppa

first_imgWesley Sneijder feels Inter Milan are ready to win the Coppa Italia. “There’s very little to do [in Serie A]. Juventus continue as clear favourites to win the title. They have the best team and develop with every season. read also:‘I could’ve been like Messi, Ronaldo but didn’t feel like it’ “You think their run is over but they manage to bring in new players who make the difference and find the right incentives to continue winning.” FacebookTwitterWhatsAppEmail分享 Promoted ContentA Hurricane Can Be As Powerful As 10 Atomic Bombs9 Facts You Should Know Before Getting A TattooBirds Enjoy Living In A Gallery Space Created For Them10 Risky Jobs Some Women Do7 Of The Wealthiest Universities In The World8 Superfoods For Growing Hair Back And Stimulating Its Growth7 Universities In The World Where Education Costs Too Much6 Best ’90s Action Movies To Watch TodayThe Models Of Paintings Whom The Artists Were Madly In Love With14 Hilarious Comics Made By Women You Need To Follow Right NowWhy Do So Many Digital Assistants Have Feminine Names & Voices?A Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This Day The Nerazzurri sit nine points behind league leaders Juventus, but have one game in hand. However, they also remain in the Coppa. “I hope Inter will advance and win the Cup,” he told Il Mattino. “I think the time to win has arrived.Advertisement Loading… last_img read more

LIVE BLOG: Minnesota vs. Wisconsin

first_imgWith a win Tuesday night, the Wisconsin Badgers will build on a streak Bo Ryan’s built since his first year in Madison – a top-four finish in the Big Ten.The No. 15 Badgers (21-8, 10-6) host the Minnesota Gophers (17-12, 5-11) at the Kohl Center, where a victory will guarantee UW of finishing no lower than fourth in the conference, as well as hand the school a first-round bye in next weekend’s Big Ten Tournament in Indianapolis. Wisconsin first faced Minnesota back on Feb. 9 in Minneapolis, where a determined Gophers squad forced overtime before the Badgers escaped The Barn with a 68-61 win. Now, the Badgers are riding high after Sunday’s upset win at Ohio State, while the Gophers have lost five straight.Fellow Herald Sports editor Elliot Hughes and myself will be live at the Kohl Center all game long to keep you updated on the live blog below, as well as on Twitter @BHeraldSports. Thanks for following along, and have a great Tuesday night.<a href=”http://www.coveritlive.com/mobile.php/option=com_mobile/task=viewaltcast/altcast_code=443a37310b” >Minnesota vs. Wisconsin</a>last_img read more

Trapp Quits PSG for Former Club

first_imgGerman goalkeeper Kevin Trapp completed his return to Eintracht Frankfurt on Wednesday after signing a five-year deal with the club he left to join Paris Saint-Germain in 2015.The 29-year-old Trapp spent last season on loan at Frankfurt after falling further down the pecking order in Paris following the arrival of Gianluigi Buffon.Reports in Germany said the transfer fee was around seven million euros for Trapp, who helped Eintracht reach the semifinals of last season’s Europa League. Kevin Trapp Following Buffon’s decision to rejoin Juventus this summer Trapp was expected to serve as back-up to first-choice goalkeeper Alphonse Areola at PSG.Trapp, who has three caps for Germany, won two Ligue 1 titles with PSG as well as both the French Cup and French League Cup three times.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

How affiliates can tee up some profits at the Masters 2017

first_img StumbleUpon Share Share Submit Rightlander tackles non-compliant affiliates with Fast Track report April 7, 2020 Related Articles Tipping resource Betting Gods has encouraged major affiliates to promote its Golf Betting Expert in the run up to the first major of the golfing year at Augusta National (6-9 April).Over £100,000 was paid out to affiliates of Betting Gods in 2016, which includes the likes of Honest Betting Review, Tipsters Review, GeeGeez, Cash Master, Winners Odds and Geeky Gambler. The company, which was founded by Darren Moore in 2014, is set to break records this year having paid out over £10,000 in January alone.Golf Betting Expert is a stand out tipster on the Betting Gods professional in-house and third party tipping service, which has extended its reach in Europe after a successful move into the Maltese sports betting market at the end of 2016. The website is now available in English, Maltese, French, German, Italian, Polish, Portuguese and Spanish language versions.Given that affiliates of Betting Gods are paid 50% commission on each sale for the life of any subscription, Moore believes it is worth promoting the subscription of a golf specialist that has made a monthly profit of £469.85, using £10 stakes with an 8.81% Strike Rate and ROI of 60.34% since January 2016.Moore commented: “For fans of sports betting with the necessary discipline and patience, golf betting easily represents the most simple form of making money. Our Golf Betting Expert sends just one set of tips each week, but is easily our top performing tipster with a long-term return on investment that is simply unheard of in most betting circles.“We find that golf betting attracts investment savvy bettors, and for big events such as the Masters there’s always plenty of liquidity in the markets for everyone to capitalise on this fascinating opportunity regardless of experience level.“For affiliates with access to these kind of bettors/investors, Golf Betting Expert is one of the simplest services to promote in the Betting Gods portfolio, and can guarantee a recurring revenue share for many years.”Recent successes for the Golf Betting Expert include Cody Gribble’s breakthrough victory at the Sanderson Farms Championship, Sam Brazel’s first European Tour win in Hong Kong, Jon Rahm’s three-stroke victory at the Farmers Insurance Open and SSP Chawrasia’s successful title defence in India earlier this month.Betting Gods is one of the sponsors of SBC’s Betting on Football Conference at Stamford Bridge. Find out more about this year’s event by clicking here. Betsson rolls out new Group Affiliates site August 7, 2020 Affiliate concerns: Maintaining trust in the modern market July 9, 2020last_img read more

Wellington Police Notes: Friday, Sept. 5 – Sunday, Sept. 7, 2014

first_imgSunday, September 7,2014•12:15 p.m. Alyssa D. Leon, 31, Wellington was issued a notice to appear charged with criminal trespass.•3:48 p.m. Bal Krishan Sharma, 67, Haysville, was issued a notice to appear charged with speeding 53 mph in a 40 mph zone.•9:37 p.m. Officers investigated an aggravated assault in the 500 block of W. Harvey.•9:31 p.m.  Officers investigated a suicidal threat. Saturday, September 6, 2014•12:27 a.m. Officers investigated disorderly conduct and battery in the 700 block of S. Washington.•12:44 a.m. Jayvon T. Whiteneir, 34, Wellington was arrested, confined and bonded, on charges of disorderly conduct.  •7:30 a.m. Officers investigated a non-injury accident, hit and run, in the 1100 block of N. A. involving an unknown•8:59 a.m. Officers took the report of found clothing and miscellaneous items in the 300 block of N. Plum.•10:47 a.m. Rebecca M. Supon, 34, Wellington was arrested, confined and bonded on charges of operating a motor vehicle without insurance and failure to wear seatbelt.•1:12 p.m. Officers investigated criminal damage to a sign in the 100 block of W. Lincoln.•3:13 p.m. Scott L. Patterson, 20, Wellington was issued a notice to appear charged with no seatbelt.•4:47 p.m. Shante Nmi Carrillo, San Diego, Calif. was issued a notice to appear charged with speeding 39 mph in a 20 mph zone.•5 p.m. Jamie L. Jackson, 39, Wellington was issued a notice to appear charged with no seatbelt.•5 p.m. Holly J. Jackson, 38, Wellington was issued a notice to appear charged with no seatbelt for a front passenger.•5 p.m. Norman S. Morris, 36, Wellington was issued a notice to appear charged with no seatbelt for a front passenger. Wellington Police Notes for Friday, Sept. 5 to Sunday, Sept. 7, 2014:Friday, September 5, 2014:•7:59 a.m. Ronald H. Hale, 63, South Haven, was issued a notice to appear charged with speeding 58 mph in a 40 mph zone.•9:30 a.m. Officers took a report of found fishing poles at the Wellington Lake.•9:56 a.m. Officers investigated harassment by telecom device by a known suspect in the 700 block N. Blaine, Wellington.•10:44 a.m. Officers took a report of found drivers’ license in the 1000 block W. 8th, Wellington.•11:20 a.m. Officers took a report of found jewelry in the 200 block W. Harvey, Wellington.•4:43 p.m. Officers investigated a non-injury accident,hit and run, at 16th and Day, involving a vehicle operated by Haley N. Goodman, 25, Wellington and fixed objects(stop sign and pole) owned by the city of Wellington.•4:43 p.m. Haley N. Goodman, 25, Wellington was issued a notice to appear charged with leaving the scene of an accident.last_img read more

A sex party and a 6am car crash – which PL rule breakers make our Covidiot XI?

first_img7SOME Premier League stars just can’t seem to obey the government guidelines to stay indoors and observe social distancing during the coronavirus pandemic.From a kickabout at a public park to hosting a wild sex party, the rule-breaking has been wide-ranging, to say the least.⚠️ Read our coronavirus in sport live blog for the latest news & updates7But which players – and even managers – are guilty of breaching the Covid-19 lockdown rules?Check out some of the biggest offenders, below…GOALKEEPER – David OspinaThe former Arsenal goalkeeper – now at Napoli – was spotted at a supermarket in Italy, despite the nation’s advice to stay indoors at all costs.RIGHT-BACK – Serge AurierThe Tottenham full-back shared a video of himself training with team-mate Moussa Sissoko, before swiftly deleting it, having already been given a slap on the wrists for pulling a similar stunt earlier this month.CENTRE-BACK – Kyle WalkerThe Man City star ignored the coronavirus lockdown by hosting a three-hour sex party with a friend and two call girls in his flat. Walker later apologised for his indiscretions.7 Aurier recently shared a video of himself and Sissoko breaking lockdown rules7 Walker hosted a sex party with a pal and two escortsCENTRE-BACK – David LuizThe Arsenal defender was spotted enjoying a kickabout with pal Granit Xhaka in Southgate, London – with a dog-walker saying: “They were having a great time, not a care in the world.”LEFT-BACK – Ryan SessegnonThe Spurs defender was spotted training at a London park with team-mate Sissoko.CENTRE-MID – Moussa SissokoAnother Spurs name on the list, Sissoko has been caught twice now – once with Aurier and another time with Sessegnon. Three strikes and you’re out, Moussa!CENTRE-MID – Granit XhakaThe former Gunners captain – who told fans to “f*** off” earlier this season – was seen playing football in a public area alongside Luiz recently.7 Jack Grealish ignored government advice by attending a party and then crashing his car7 Nicolas Pepe kicked a ball around with others outside, and was exposed by a WhatsApp postCENTRE-MID – Jack GrealishThe England hopeful crashed his car not long after a 4am party – and that came just hours after urging fans stay indoors during lockdown.RIGHT-WING – Nicolas PepeThe Arsenal winger, wearing a grey tracksuit and black trainers, casually joined in a game on an astroturf pitch in Colindale’s Graham Park on April 15 – and was slammed by Arsenal.LEFT-WING – Oumar NiasseThe Everton star was stopped while driving his £100,000 Mercedes-Benz without a seatbelt and with a pal and two girls inside. Unmarked police sent him packing with a warning.Give now to The Sun’s NHS appealBRITAIN’s four million NHS staff are on the frontline in the battle against coronavirus.But while they are helping save lives, who is there to help them?The Sun has launched an appeal to raise £1MILLION for NHS workers.The Who Cares Wins Appeal aims to get vital support to staff in their hour of need.We have teamed up with NHS Charities Together in their urgent Covid-19 Appeal to ensure the money gets to exactly who needs it.The Sun is donating £50,000 and we would like YOU to help us raise a million pounds, to help THEM.No matter how little you can spare, please donate today herewww.thesun.co.uk/whocareswinsappealMOST READ IN FOOTBALLTHROUGH ITRobbie Keane reveals Claudine’s father was ’50-50′ in coronavirus battleTOP SELLERGavin Whelan has gone from League of Ireland to David Beckham’s InstagramPicturedAN EYEFULMeet Playboy model and football agent Anamaria Prodan bidding to buy her own clubI SAW ROORodallega saw Rooney ‘drinking like madman’ & Gerrard ‘on bar dancing shirtless’ExclusiveRIYAD RAIDMan City’s Riyad Mahrez has three luxury watches stolen in £500,000 raidNEXT STEPJonny Hayes set to move to English Championship having been let go by CelticREF RELEASEDChampions League ref Vincic released by cops after arrest in prostitution raidKEANE DEALEx Man United youth ace David Jones says Roy Keane negotiated a contract for himNICE RONCristiano Ronaldo goes on family bike ride with partner Georgina Rodriguez & kidsREF RAIDChampions League ref Vincic ‘arrested in raid into drugs and prostitution ring’STRIKER – Alexandre LacazetteThe Arsenal forward had his Audi washed by a car valeted on his driveway on Monday, with a passer-by saying: “I was shocked to see them so close.”SUBS – Mason Mount & Declan RiceThe Chelsea midfielder apologised to boss Frank Lampard after being spotted having a kickabout in public with West Ham ace Rice.MANAGER – Jose MourinhoThe Spurs boss was slammed after appearing to lead a training session in a North London park.7 Alexandre Lacazette got close to a valeter who he asked to clean his car despite the lockdownSimon Jordan calls Mesut Özil an ‘easy target’ amid Arsenal wage cut rowlast_img read more