Italian government provides further details on infrastructure, SME fund

first_imgItalian media reported that the European Investment Bank (EIB) might also be asked to contribute.The long-term fund would be closed and finance SMEs as well as infrastructure projects, particularly aimed at reducing the country’s ‘digital gap’.Stakeholders are exploring how to provide return guarantees to investors – a focal point in the discussion.There is also a proposal to give tax incentives to pension schemes that subscribe to the fund.According to MEFOP, a pension think-tank owned by the Ministry of Finance, Italian pension funds are exposed to the domestic economy almost exclusively through sovereign debt.Around 92% of their assets are invested in Italian government bonds.However, some Italian institutional investors are increasing their direct exposure to the domestic economy.Last month, three casse di previdenza – Inarcassa (engineers and architects), CIPAG (surveyors) and EPPI (industrial management consultants) – created ARPINGE, a special-purpose vehicle to invest in Italian infrastructure projects.The company is currently targeting around 50 projects worth €340m over a three-year period ending 2016.In other news, in a bid to stimulate consumer spending, prime minister Matteo Renzi’s government is considering raising salaries by handing back part of employees’ Trattamento di Fine Rapporto (TFR), the deferred termination indemnity pay set aside by employers and largely used to finance second-pillar pension scheme contributions.The proposal has come under fire by employer associations and trade unions.It is feared that releasing the contribution will put companies’ balance sheets under pressure and slow the growth of second-pillar funds.Fabio Ortolani, chairman of €4.4bn chemical sector fund Fonchim, said: “The government’s intention to hand back TFR puts Italians’ pension future at risk, as well as renders liquidity for small and medium companies difficult.“Scrapping one of the main sources of financing for pension plans, which would then be financed solely by employer contributions and voluntary employee contributions, would drastically reduce pension pots and in turn retirement benefits.”However, Italy’s central bank, Banca d’Italia, and the pension regulator, Covip, are open to the possibility.Banca d’Italia’s head Ignazio Visco, speaking yesterday after an ECB meeting in Naples, said the ECB’s LTRO initiative could be used to finance bank loans to SMEs lacking liquidity as a result of the missing TFR cushion.Rino Tarelli, chairman of Covip, told Italian media today that handing back the TFR to employees “should not be considered a taboo”, and that it could potentially be done without damaging the second-pillar system.The chief executive at Italian automobile giant Fiat, Sergio Marchionne, is also backing the government’s proposal.He was quoted as saying that, despite representing a cost for the company, the measure was necessary, as it provided employees with much-needed liquidity.Elsewhere, the €690m fund for employees of Banco di Napoli has launched a search for a manager to build a portfolio of renewable energy investments that have an “alternative bond-like” profile.The selected manager will take care of the €502 defined benefit pool of the fund, which is currently actively managed and has an equity exposure of 18%.The deadline for proposals is noon, 30 October.Further information is available here. Discussions between Italy’s government and pension funds about the creation of a fund to invest in Italian SMEs and infrastructure have stepped up a gear.Further details have emerged about the vehicle, which could have a target size of €3bn-5bn and, according to Italian media, could be launched before the end of the year through the 2015 budget law.The plan is being discussed by the Ministry of Finance, first-pillar casse di previdenza and second-pillar collective pension funds.Government-owned bank Cassa Depositi e Prestiti (CdP) is also involved in the design, as it would support the fund by acquiring a minority stake.last_img read more

Marshalltown postpones World Nationals

first_imgFriday spectator admission is $15 for adults and $12 for seniors. On Saturday, admission is $20 for adults and $15 for seniors. Kids 10 and under get in free and pit passes are $30 both days. Camping is $20 a night and showers and limited electri­cal hookups will be available. The 13th annual event is a qualifying feature for the 2020 Fast Shafts All-Star Invitational ballot. IMCA Sunoco Stock Cars and Karl Kustoms North­ern SportMods both race for $1,000 to win, IMCA Sunoco Hobby Stocks for $500 to win during Friday and Sat­urday, Oct. 25 and 26 programs. More information is available from promoter Toby Kruse at 515 231-5444. The track website is www.marshalltownspeedway.com. The Thursday, Oct. 24 Cookies BBQ Sauce Kickoff to the World Nationals practice session runs from 6:30-9:30 p.m.center_img The $10,000 to win World Nationals special for IMCA Modifieds has been postponed, due to wet grounds and the resulting lack of time to get the track ready, to Oct. 24-26. Pit gates open at 4 p.m. and the grandstand opens at 5 p.m. Racing starts at 7 p.m. both nights.  MARSHALLTOWN, Iowa – Rain Wednesday plus rain Thursday equals no racing this weekend in Marshalltown. last_img read more

Given hopes to keep Grealish in green

first_img “But you know he’s another bright talent and he’s Irish, and these are the ones we have to watch for the future.” Manager Martin O’Neill certainly is watching, although he is determined not to exert too much pressure at a time when speculation has suggested West Ham midfielder Mark Noble could declare for Ireland after being overlooked by England once again. Asked about the situation, O’Neill said: “I think John O’Shea might have made a comment today which I would wholeheartedly agree with: you have to want to play for the country and if that’s the case, then the encouragement would be there. “But at some stage or an other, if you are indecisive about something, well I’m not so sure that that augurs brilliantly for stuff. From my own viewpoint, that’s how I would look at it. I want players who really do want to play. “Now, you can understand young Grealish at this minute, 18 years of age maybe having decisions to make one way or the other. I don’t really want to put that sort of pressure on, but I am talking about established players who have played for some time. “Now if Mark Noble decides that England isn’t for him and really genuinely wants to play, then I will genuinely have a look at it. But we will see.” Asked if he had tried to talk the promising Birmingham-born youngster into committing himself to the Irish cause, the keeper said: “Yes, every day! “He’s a big talent. He came on yesterday against Hull and he was fantastic. We all hope he comes and plays for Ireland. “He is meeting up with the under-21s this week and I think the key is not to put too much pressure on him. Himself and his dad are going to be making that decision, maybe over the next number of months. “Ideally, we would like him straight away because I feel he is good enough to play straight away, because he is a really talented player. Hopefully we can keep him in the green jersey.” The teenager played the final 15 minutes of Villa’s 2-1 Barclays Premier League victory over the Tigers, which saw him receive some rough treatment as he went through his repertoire. Given said: “I think three of them were booked for tackling him. He is very nifty, he is very quick with the ball. He can invite defenders and players on to him, and he is so skilled and he moves the ball so quickly. He’s a real talent.” Midfielder David Meyler, one of three Hull players among the senior Republic squad which trained in Malahide on Monday, was impressed by what he saw from Grealish. He said: “They played very well the first half and we came out and the manager wanted us to get stuck in and get into their faces. Young Jack dwelt on the ball two or three times for long enough for one of our lads to have a swing at him. The 18-year-old Aston Villa midfielder is currently at the centre of a tug of war between Ireland and England and has asked for more time to make his decision as he emerges as a genuine talent. Grealish is on duty with the Republic’s Under-21s this week, and 38-year-old club-mate Given is hoping he can be persuaded to continue to wear the green jersey. Republic of Ireland veteran Shay Given is convinced starlet Jack Grealish is ready to play senior international football now. Press Associationlast_img read more

The Latest on Parkland: Lawyers, Video Games, and An Inheritance

first_imgThe Broward County public defenders who are representing Parkland shooting suspect Nikolas Cruz made an unexpected request on Wednesday afternoon. They are asking to withdraw from the case, claiming that the suspect will soon inherit more than $432,000 from his late mother’s life insurance policy.Under Florida law, public defenders are only allowed to represent defendants who cannot afford to hire private attorneys.Broward Public Defender Howard Finkelstein says his office learned about that law earlier this week.Although victims’ families could also potentially make a claim for some or all of that money, judges will make a final decision about who gets it.Meanwhile, the father of one of the Parkland victims is taking issue with information his attorney discovered in Cruz’s mental health records.Andrew Pollack’s 18-year-old daughter Meadow was one of those killed at Marjory Stoneman Douglas High School. He is suing Henderson Behavioral Health, whose therapists counseled Cruz.Pollack’s attorney, David Brill, learned from the mental health records that Henderson’s therapists allowed Cruz to play violent video games as a way to deal with aggression.He says the therapists also gave Cruz a punching bag to let out steam.Brill alleges in the lawsuit that, “the facility knew or should’ve known Cruz suffered from a mental illness and was a threat to others.”In court documents, the attorney for Henderson Behavioral Health counters that counselors did not have any involvement or contact with Cruz for more than a year before the massacre, and therefore could not have prevented it.last_img read more

Carjacking Suspect in Critical Condition After Crashing into Police Cruiser

first_imgOne person is in custody, after police say he ran from them and carjacked a vehicle in Fort Pierce on Saturday.Officers responded to a theft call in the 2500 block of South U.S. Highway 1 at about 11:26 a.m.When they encountered the suspect, 28-year-old Michael John Ginger of Stuart, he fled on foot, carjacked an occupied vehicle, and pointed his gun at an officer.One of the officers fired his weapon in an effort to stop Ginger, but did not strike anyone.According to police, Ginger then drove the vehicle south along U.S. Highway 1, where it ended up spinning out of control and colliding with a police cruiser.The carjacking victim, who was not in the vehicle when it crashed, experienced non-life threatening injuries. She was treated and released from the hospital.Ginger is in critical condition at Lawnwood Regional Medical Center, and charges are pending against him.No officers were injured.The incident remains under investigation.last_img read more

Difficult for Lionel Messi to remain with Barcelona: Father Jorge Messi

first_imgBARCELONA: It will be difficult for Lionel Messi to remain at Barcelona after he made public his desire to leave the Spanish club, his father and agent Jorge Messi said on Wednesday as he arrived in the city to negotiate his son’s future.After flying in on a private jet, Jorge Messi is expected to meet club president Josep Maria Bartomeu later on Wednesday to discuss his son’s future, Spanish media reported. A club spokesman declined to comment. The six-times world player of the year insists he has a clause in his contract that allows him to leave on a free transfer – a claim disputed by Barcelona and La Liga, who say the Argentine can only leave if a rival club is willing to pay a 700 million euro ($830.20 million) buyout clause. “I don’t know, I know nothing,” Messi’s father told Spanish TV channel Cuatro when asked if the 33-year-old would leave the only club he has played for professionally. But when pressed if it would be hard for him to remain, he said “yes”. And asked how he sees Messi’s future at Barcelona, he replied “difficult, difficult.” He dodged questions on whether Manchester City would be a good option for his son. A move to Manchester City would allow Messi to link up with his former Barcelona coach Pep Guardiola. “I don’t know, there’s nothing yet,” he said, adding he had not had any discussions with Guardiola, who enjoyed trophy-laden years as Barcelona manager with Messi in his pomp. Messi did not show up on Monday for the first training session of the season under new coach Ronald Koeman. Meanwhile according to a report on Wednesday, Messi is set to join Manchester City in a massive five-year deal worth 700m euros. The 33-year-old preferred the move to City over other top clubs was the chance to play in the English Premier League and also reunite with former Barca coach Pep Guardiola.(Agencies) Also Watch: Watch: Patient Being Taken to Hospital in Hand Cartlast_img read more

Iowa State seeks revenge on Texas Tech

first_imgLEADING THE CHARGE: The Red Raiders have been led by Jahmi’us Ramsey and Kyler Edwards. Ramsey is averaging 14 points while Edwards is putting up 12 points and 4.2 rebounds per game. The Cyclones have been led by sophomores Tyrese Haliburton and Rasir Bolton, who have combined to score 27.5 points per outing.JUMPING FOR JAHMI’US: Ramsey has connected on 44.8 percent of the 116 3-pointers he’s attempted and has made 7 of 15 over the last three games. He’s also made 64.3 percent of his foul shots this season.YET TO WIN: The Red Raiders are 0-5 when they score 61 points or fewer and 17-4 when they exceed 61 points. The Cyclones are 0-9 when they fail to score more than 68 points and 11-6 on the season, otherwise.PASSING FOR POINTS: The Red Raiders have recently used assists to create baskets more often than the Cyclones. Iowa State has 43 assists on 79 field goals (54.4 percent) across its previous three contests while Texas Tech has assists on 54 of 79 field goals (68.4 percent) during its past three games.DID YOU KNOW: The sturdy Texas Tech defense has held opponents to just 63.2 points per game, the 29th-lowest in Division I. Iowa State has given up an average of 72.6 points through 26 games (ranked 234th, nationally).___ February 21, 2020 Associated Press For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.comcenter_img Share This StoryFacebookTwitteremailPrintLinkedinRedditTexas Tech (17-9, 8-5) vs. Iowa State (11-15, 4-9)James H. Hilton Coliseum, Ames, Iowa; Saturday, 6 p.m. ESTBOTTOM LINE: Iowa State seeks revenge on Texas Tech after dropping the first matchup in Lubbock. The teams last faced each other on Jan. 18, when the Red Raiders outshot Iowa State from the field 54.3 percent to 35.7 percent and made six more 3-pointers on the way to a 72-52 victory. Iowa State seeks revenge on Texas Techlast_img read more

Manju Rani enters quarters, Bamboriya loses in WC

first_img SUBSCRIBE TO US LIVE TV First Published: 7th October, 2019 21:41 IST Suman Ray Manju Rani (48kg) made a memorable debut as she advanced to the quarter-finals and is one step away from winning a medal for the country while Manju Bamboriya (64kg), the other debutant boxer, went down 1-4 in her opening game at the Women’s World Boxing Championships at Ulan-Ude, Russia today.Rani, sixth-seeded pugilist in the light flyweight category blanked Venezuela’s Tayonis Rojas 5-0 in the round of 16 to register an encounter with the top seed, Kim Hyang Min in the next round.READ: ICC Women’s ODI rankings: India stay second behind AustraliaManju Bamboriya goes down The Haryana boxer prevailed superior while both the boxers approached defensive gameplay. Silver medalist at the prestigious Strandja Memorial Tournament, Manju landed a few but clean punches compared to her opponent to pick the judges node unanimously. Manju Rani will face her South Korean opponent on October 10. However, in the second and last bout of the day, Manju Bamboriya (64kg) put up stiff resistance only to go down against fourth seed, Angela Carini of Italy in a split verdict of 1-4.On Tuesday, six-time World Champion, Mary Kom will start her campaign against Thailand’s Jutamas Jitpong in the 51kg category. The third-seeded Indian had a bye in the first round and will take the ring aiming to win her 7th World Championship Gold. The other match will be played by Saweety Boora (75kg), she will face Commonwealth Games gold medalist and second-seeded Welsh women Lauren Price. Both the boxers will be eyeing a quarterfinal spot.READ: LaLiga results: Real Madrid stay on top, Barcelona climb to secondJamuna Boro Gives India Winning Start At The World Boxing C’shipIndonesia President’s Cup gold medallist Jamuna Boro (54kg) marked her debut with an impressive win as Indian women boxers began their campaign on a high note at the AIBA Women’s World Championships in Ulan-Ude, Russia, on Friday.Jamuna started her first-round cautiously but eventually gained momentum. The Indian pugilist displayed sheer dominance from the second round onwards. Using her height to advantage, the Assamese boxer unleashed a flurry of punches to blank Mongolia’s Michidmaa Erdenedalai 5-0.READ: Andy Murray climbs over 200 spots in the latest ATP world rankingsREAD: Kento Momota wins Korea Open, beats Chou Tien-Chen 21-19, 21-17 Written By WATCH US LIVEcenter_img Video Player is loading.Play VideoPlayMuteCurrent Time 0:00Loaded: 0%Duration 0:00Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio TrackQuality LevelsFullscreenThis is a modal window. This video is restricted from playing on your current domain Error Code: PLAYER_ERR_DOMAIN_RESTRICTED COMMENT Last Updated: 7th October, 2019 21:41 IST Manju Rani Enters Quarters, Bamboriya Loses In WC Manju Rani advanced to the quarter-finals and is one step away from winning a medal while Manju Bamboriya went down 1-4 in her opening game Session ID: 2020-09-09:ddd00d0dc2de2248d708ba0e Player Element ID: video_player_5f584e5957a6b OK Close Modal DialogBeginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreen FOLLOW USlast_img read more

“Dede Ayew won’t have a fixed position in Black Stars”- Kwesi Appiah

first_imgBlack Stars head coach, Kwesi Appiah, has hinted strongly that his captain, Andre Ayew, will not have a definite position in the team and that the player will be deployed based on plans and tactics.The question of Ayew’s position has dominated certain conversations about the team especially since the player has scored on a rather consistent basis for his clubs and the national team in the last few years.Since the 2014/ 2015 season, Ayew has scored 36 club goals with most of them coming from areas in and around the penalty area. This has led to observers calling for Ayew to be played a second striker instead of as a winger.However, Appiah, in answering questions from journalists after Ghana’s 1-0 victory over Kenya in the final AFCON qualifiers, stated that the player could function in a variety of roles so there was no need to use him in a single role.“If you have been watching Andre’s matches, for years now, he has not been playing behind the striker. He has always been playing as a winger.The thing is that there are players who have qualities such that you can always move them around.Moreso, when you are going for an AFCON tournament, you do not depend on players who can only play in one position.Andre can play on left, right and behind the striker but how we use him will depend on the tactics being used. That will determine how we move players about in the team.”Andre Ayew has scored for Ghana in the 2010, 2012, 2015 and 2017 AFCON tournaments. In the 2015 AFCON, he emerged as top scorer of the tournament with 3 goals.last_img read more

Brazil 2014 Draw: Appiah ready to play any team

first_imgGhana’s Black Stars coach James Kwesi Appiah has claimed that he is not particular about any team as FIFA gets set to conduct the draw for the 2014 World Cup on Friday, December 6.“First it is good we have qualified for the World Cup which [was] the main aim at the start of the qualifiers. For me, I’m open to facing any team at the World Cup as we cannot determine who and who we want to play against,” Appiah told JOY Sports“All 32 countries have equal opportunities of doing well because they are the best from the different continents of the world at the moment. Same goes for Ghana. I believe we have a team that can do well and go as far as the final.“Our concern right now is to do well at the World Cup next year. The World Cup is always a big stage to show what you’re capable of doing as a player and as a team. But right now we will concern ourselves with preparing for the World Cup rather than bother about who our opponents will be.“We welcome any team we are drawn against and we will be prepared to give our best,” Appiah concluded.Ghana have been placed in pot three alongside Africa’s four other representatives,Cote d’ Ivoire, Nigeria and Cameroon.The FIFA World Cup draws will hold in Bahia on Friday while the finals will run from June 12 to July 13, 2014.last_img read more