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Brownfield use pressure grows

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Extreme drought triggers water crisis in East Nusa Tenggara

first_imgThe agency has been regularly distributing clean water to residents of the five villages in order to mitigate the water scarcity.Read also: BMKG warns of extreme weather during transition to rainy seasonAuthorities also urged villagers to only use clean water for drinking and bathing.“The clean water comes from tanks owned by the Rote Ndao BPBD and [an unidentified] third party,” said Deskiel.Several other villages in the regency have also requested Rote Ndao administration’s assistance in providing clean water. Deskiel went on to say that authorities were trying to fulfill those requests as soon as possible. (nal)Topics : Five villages in Rote Ndao regency in East Nusa Tenggara (NTT) are suffering from clean water shortages as a result of extreme drought.Deskiel Haning of the Rote Ndao Disaster Mitigation Agency (BPBD) said the five villages were Holulai, Nentenaen, Meoain, Lifuleo and Pukuafu. They had experienced extreme drought for more than 60 days.“The water crisis has been ongoing since July,” he said on Tuesday, as quoted by kompas.com.last_img read more

Joseph Mariathasan: Green shoots for European ABS?

first_imgLast week however, saw a major development that at least attempts to create a stimulus for European securitisation. The European Parliament, the Council and the Commission agreed on a package that set out criteria for “simple, transparent, and standardised securitisation” (STS).The parties are hoping that a swift implementation of the securitisation package could unlock up to €150bn of additional funding for the real economy. The deal is seen as one of the cornerstones of the Capital Markets Union (CMU), the Juncker Commission’s pivotal project to build a single market for capital in the EU. The intention is to aid the transfer of risk from the banking sector, as securitisation enables banks to transfer the risk of some exposures to other institutions or long-term investors, such as insurance companies and asset managers. This would allow banks to free the capital they set aside to cover for risks of those exposures and hence allow them to generate new lending to households and small businesses. The STS designation attempts to solve a key issue for institutional investors such as pension funds and insurance companies: how to differentiate the more questionable deals that may have complex risks hidden in them from the straightforward stuff? For the more questionable stuff, the capital charge should be punitive, but the problem is how do you differentiate? How do you define what is good? The STS designation provides that seal of approval.As the EU Commission is keen to emphasise, the new legal framework bears no relation to the securitisation of sub-prime mortgages created in the US that contributed to the financial crisis. They are anxious to ensure that opaque and complex sub-prime instruments are not bought unwittingly by unsophisticated institutional investors.This (alongside a business strategy by financial firms of originating securitisations purely to distribute the whole product to third parties) was arguably a key factor in the global financial crash. By imposing high risk retentions on issuing banks together with a badge of comfort in the STS designation, regulators hope to avoid a repeat of the excesses seen in the US securitisation markets pre-2007.European ABS participants have been frustrated by the slow progress in reopening these markets. European ABS never suffered from the losses seen in the US and, to that extent, market participants believe EU authorities have overreacted.Global risk retention rules had suggested that sponsors/originators should retain a minimum of 5% risk exposure to align interests with investors. The European Parliament, however, had decided to increase this to 20% for all European deals. Such a figure would have dramatically reduced the efficiency of ABS as a funding tool relative to alternatives such as covered bonds.It now looks as though agreement has been made to adhere to global standards, at least in this respect. However, the new regulations restrict participation in EU markets only to EU regulated financial institutions. That rules out US companies and also European corporates from securitising trade receivables.More intriguing for the future may also be the question of how the EU’s securitisation markets will develop post Brexit, given that the UK has always had the largest ABS markets in Europe. Securitisation in Europe should be a key financing tool for generating growth in the European economy.Unfortunately, the global financial crash in 2007-08 was induced by sub-prime losses in the US, which tarred securitisation across the globe. Regulators in Europe clamped down heavily on securitisation by imposing onerous capital and risk retention requirements. Total issuance shrank from €419.2bn in 2007 to €96.4bn in 2016, according to the Association for Financial Markets in Europe (AFME).Europe has always suffered from a less enthusiastic perception of asset-backed securities (ABS) compared to the US. As one ABS expert recounted, in the 1990s there was a strong feeling that it was an asset class that only institutions in trouble would utilise. The view was often that strong entities didn’t need such assets.It appears that underlying sentiment remained in place throughout the growth of the market. When the crisis hit and the poster child for the disruption was the US sub-prime market, it was not difficult for those holding that view to tar the whole European ABS market with the same brush. This has been a major contributor to the punitive regulatory environment seen over the past decade.last_img read more

CSA beefs up geophysical survey fleet

first_imgIn addition, a cellular-based WIFI network supplies high speed internet throughout the entire salon deck. The vessel also has all mandated HSSE gear such as EPIRB, AIS, SART, life raft, immersion suits, and locator beacons. The survey salon features an enclosed, climate-controlled cabin 7 m long by 3.5 m wide, and survey desks with three dedicated workstations. “This is a rugged, long range vessel that has been designed and outfitted with the latest technology and equipment to ensure safe and reliable operations in water depths ranging from hundreds of meters to shallow nearshore sites,” Peterson also noted. “The R/V Dolphin gives CSA the capability to perform surveys in coastal and nearshore environments to the highest specifications with a fully integrated vessel. On deck are two high speed research winches, each with 6-pass slip rings to support custom instrument interfacing. A 1,500 safe working load (SWL) articulating A-frame is located on the vessel’s transom. The latest survey fleet addition can currently simultaneously tow a Transverse Marine Gradiometer (TVG) and side-scan sonar, with an additional magnetometer concurrently operating multi-beam, single-beam, and sub-bottom profilers, and an ultra-short baseline (USBL) transceiver. A server rack contains data acquisition computers, uninterrupted power supplies, and rack-mounted instrument accessories.center_img Specifically, CSA has configured the 15-metre multipurpose vessel to support marine geophysical survey. Each winch is capable up to 1,500 lbs pull with electronic controls for local or remote operation. The vessel gets power from twin Detroit Diesel 8-71 motors and a 20 kW generator. US-based CSA Ocean Sciences (CSA) has revealed the latest addition to its coastal survey fleet, the R/V Dolphin. Kevin Peterson, CEO of CSA, said: Forward, the vessel comes with two workstations for protected species observers and/or client representatives. The R/V Dolphin’s layout includes an aft working deck, a raised wheelhouse, as well as salon area below decks.last_img read more

Raiders Kings Of Ripley County Basketball

first_imgThe Ripley County Basketball Tourney wrapped up last night at Batesville with the Boys finale.The consolation game saw The Jac-Cen-Del Eagles defeat The Milan Indians 47-34.The South Ripley Raiders captured their 8th Ripley County Tourney Crown by winning against The Batesville Bulldogs 74-64 in the championship game.The Raiders last won the title was back in 1995 when they won back-to-back crowns.Three old schools that consolidated into South Ripley won Ripley County Tourneys including Versailles with 8, Holton with 5 and New Marion with 1.The Batesville Bulldogs streak of 8 straight RC Titles came to an end.  Coach Aaron Garrett won the last 7 with former Coach Mel Siefert’s squad started the streak.Congratulations to Coach Travis Wrightsman and The South Ripley Raiders!last_img

Ruth Ann (Federle) Gehl

first_imgRuth Ann (Federle) Gehl, age 83 passed away Friday October 27, 2017 at the Waters of Batesville.  She was born on October 18, 1934 the daughter of the late Anthony and Anna (Raver) Federle in Batesville.    Ruth Ann was one of seven children that grew up in the Batesville Community.  She was a graduate of Batesville High School.After high school she met her future husband Phil Gehl and the two of them were united in marriage on July 7, 1962 and recently celebrated their 55th anniversary.  Upon Phil’s completion of military service and his return home, they purchased a farm outside of Napoleon.  This 80 acre farm is where raised their family of 5 and will always be home.  The two of them provided an environment for their children based on true values and honesty.Ruth Ann was dedicated to being a homemaker for the vast majority of her life.  She did spend 10 years working for the Jac-Cen-Del school system in the cafeteria.  She enjoyed spending time with her family, whether it was a good card game or a social gathering.  She had the great ability to start a conversation with anyone passing by.She is preceded in death by her parents, son Daniel, brothers Paul and Ralph Federle, and daughter in law Lisa (Riehle).  Ruth Ann is survived by husband Phil, sons Tony (Ann) of Knoxville, TN, Jim (Rachel) of Batesville, Ron (Kathy) of St. George, KS, and daughter Mary (Courtney) Franke of Howe, IN, along with brothers Ben (Howard) (Dot) of Batesville, Carl of Columbus and sisters Marlene (Joseph) Griewe of Batesville, and Joann (Anthony) Holzer of Mount Juliet, TN, along with 11 Grandchildren and 4 step Grandchildren.Visitation will be Monday October 30 from 4:00-7:00 pm. at Neal’s Funeral Home.  Funeral services will be held on Tuesday October 31 at 10:00 am. at St Maurice Catholic Church in Napoleon.  Rosary Services will be held at 3:30 on Monday October 30 at the funeral home.  All are invited to attend.last_img read more

NBA names CEO of NBA Africa

first_imgRelatedPosts NBA targeting July 31 to resume season How NBA star Bryant, daughter, seven others died in chopper crash + identities of others NBA heads to India for 2019’s first games The National Basketball Association has named Victor Williams CEO of NBA Africa, effective August 17, 2020.The announcement was announced by NBA Commissioner Adam Silver. Williams, an accomplished investment banking executive with extensive experience growing businesses across the US and Africa, will be based in the league’s Johannesburg, South Africa office and report to NBA Deputy Commissioner and Chief Operating Officer Mark Tatum.In this newly-created role, Williams will oversee the league’s basketball and business development initiatives in Africa and will be responsible for continuing to grow the popularity of basketball and the NBA across the continent through grassroots development, media distribution, corporate partnerships, and more.For the last five years, Williams served as the Executive Head of Corporate and Investment Banking, Africa Regions for Standard Bank Group, where he oversaw the strategy, execution and financial performance for Standard Bank’s business with corporate, sovereign and institutional investor clients in 19 countries across sub-Saharan Africa.In this pan-continental role, Williams was responsible for growing a wide range of business lines across Africa, including global markets, investment banking and transactional products and services, and helped lead Standard Bank’s expansion into Côte d’Ivoire, Ethiopia and South Sudan.“Adding an executive of Victor’s caliber and experience is an important step in our continued efforts to grow basketball across the continent,” said Silver. “We look forward to Victor leading NBA Africa’s operations and helping to accelerate the use of sports as an economic engine across Africa.” “Becoming CEO of NBA Africa is a compelling opportunity to join the NBA – a widely-respected and admired, globally-oriented sports enterprise,” said Williams. “It allows me to blend my professional experience building businesses in Africa with my passion for the sport of basketball. I look forward to working with our colleagues in Johannesburg and Dakar to help grow basketball’s commercial and social impact in Africa and on the world stage.”Williams joined Standard Bank in 2011 as Head of Corporate and Investment Banking for East Africa and subsequently led Standard Bank’s Corporate and Investment banking business in Nigeria.Previously, he worked at Wells Fargo Securities in Charlotte, North Carolina, where he was a Managing Director focused on mergers and acquisitions.In this role, he executed more than $5 billion in merger and acquisition transactions and advised senior executives and boards of directors of corporate and private equity firms on mergers, divestitures, acquisitions, joint ventures, recapitalizations and corporate defence.Prior to Wells Fargo Securities, Williams was Vice President of Investment Banking at Goldman Sachs in New York City, where he provided strategic guidance to Fortune 500 companies in all aspects of merger and financing analysis and execution. Williams, a dual citizen of Sierra Leone and the US, holds an MBA from Harvard Business School and bachelor’s degrees in applied math and economics from Brown University.He is a member of Harvard Business School’s Africa Advisory Board and has also served on the boards of publicly-listed companies and non-profit organizations in the US, Nigeria and Kenya.—Tags: Adam SilverNational Basketball AssociationVictor Williamslast_img read more

Monaco force draw against Reims in Kovac’s first game in charge

first_imgRelatedPosts Neymar, four others sent off as Marseille grab rare win at PSG Everton sign Real Madrid midfielder for £22m Three more PSG players test positive for coronavirus Monaco rallied from two goals down to salvage a point in a 2-2 home draw against Stade de Reims in Ligue 1 on Sunday.It was their first game under new coach Nico Kovac, a former coach of Bayern Munich. Hoping to find some stability after using five coaches in two years, Monaco found themselves trailing 2-0 after 21 minutes following goals by Boulaye Dia and El Bilal Toure.But Axel Disasi and Benoit Badiashile, who both had a catastrophic start in central defence, scored either way of the interval as Monaco stepped up a gear.Angers, the only team with a win so far, are the early leaders after the 2020/2021 Ligue 1 season started on Friday.There was no Ligue 1 matches for five months as the 2019/2020 season was abandoned because of the COVID-19 crisis.Dia outpaced Badiashile and beat Benjamin Lecomte with a low crossed shot in the fifth minute to give the visitors an early advantage. The visitors doubled the tally 16 minutes later when Toure made the most of a defensive misunderstanding between Disasi and Badiashile.Monaco, however, pulled one back on the stroke of half-time as Disasi headed home from point blank range.The hosts equalised 10 minutes into the second half when Badiashile netted with an angled shot from Aleksandr Golovin’s free-kick.Champions Paris St-Germain and Olympique Lyonnais are not playing their respective season-openers for now.They were postponed after both teams reached the UEFA Champions League semi-finals. PSG will face Bayern Munich in the UEFA Champions League final later on Sunday, while Lyon lost on Wednesday to Bayern Munich in the semi-finals.Olympique de Marseille’s home game against St Etienne, which was scheduled for Friday, was postponed after four OM players tested positive for the coronavirus.Reuters/NAN.Tags: Coach Nico KovacLigue 1MonacoReimslast_img read more

O’Brien quartet head for Guineas

first_img Press Association This race has so far eluded trainer Jim Bolger and the Coolcullen handler tries this time with Trading Leather, having removed his four other possibles. First Cornerstone, trained in Northern Ireland by Andy Oliver, is set to make his seasonal debut in the Classic after a slight setback forced him to miss the Derrinstown Stud Derby Trial. Richard Hannon has successfully plundered the Irish 2,000 Guineas three times and the Herridge handler sends a powerful duo in the shape of Van Der Neer, third in the Newmarket equivalent, and Havana Gold, who was fifth in the French version. Aidan O’Brien has declared a team of four as he goes for a ninth triumph in the Tattersalls Irish 2,000 Guineas at the Curragh on Saturday.center_img A field of 10 is set to line up for the colts’ Classic, with the Ballydoyle trainer responsible for ante-post favourite Magician, Flying The Flag, George Vancouver and Gale Force Ten. Johnny Murtagh was aboard three of the eight O’Brien winners and he aims to get his training career off to a flying start when he saddles Ask Dad and Fort Knox in the one-mile showpiece. last_img read more