EIOPA appoints ‘extraordinary’ expert group to help with PEPP work

first_imgThe PEPP regulation was approved by the European Parliament in April and by EU leaders in June. Stakeholders have emphasised that the design of the technical measures to accompany the PEPP regulation will be key in determining its take-up.“[T]he framework must be structured to ensure its success, including rules around the fee cap and risk mitigation,” said Anna Driggs, director and associate chief counsel for global funds policy at ICI Global, the international arm of US asset management body the Investment Company Institute.“Defining these sensibly will be critical to developing a product that asset managers will offer and, importantly, savers will want to utilise.”‘Extraordinary group’EIOPA said it had appointed to the panel “an extraordinary group of high-level experts with a diverse set of experiences and expertise, from all the different sectors of eligible PEPP providers”.It includes representatives of consumer and industry associations, asset managers, insurers, pension funds, and academia.In alphabetical order, the members of the group and their affiliation are:Jean-Paul Andre-Dumont, director for the Luxembourg business of consultancy ForsidesPaul Le Bihan, Union Mutualist RetraiteEmanuele Maria Carluccio, University of VeronaSebastian Görgl, Union InvestmentEdward Hiller, FidelityOlav Jones, InsuranceEuropeHerman Kappelle, AegonTil Klein, Vantik, a German pensiontech companyAxel Kleinlein, Bund der Versicherten, German consumer protection association for insurance policyholdersChristian Lemaire, AmundiKristine Lomanovska, SEB in LatviaAndrew Marker, VanguardAidan McLoughlin, independent trusteeJasper De Meyer, Bureau Européen des Unions de ConsommateursSimone Miotto, PensionsEuropeCarlo Parodi, Intesa SanpaoloHugo Prenn, Uniqa, an insurance group in Austria and central and eastern EuropeTobias Rieck, AllianzJens Rosendahl Frederiksen, PFA PensionStefan Voicu, Better FinancePiotr Wrzesinski, PIU, the Polish insurance association The EU’s occupational pensions regulator has appointed a 21-strong panel of specialists to help it with its policy work on so-called Level 2 implementing measures for the pan-European personal pension product (PEPP) regulation.According to the European Insurance and Occupational Pensions Authority (EIOPA), the group will inform the regulator’s policy work on the measures, test proposals, and “act as a sounding board” to help EIOPA deliver on its mandate. “To deliver on the forthcoming PEPP Regulation’s policy perspective to design a PEPP that exhibits high quality product features around information provision, risk-mitigating techniques and a cost cap for the basic PEPP, the feedback and support from practitioners is important,” said EIOPA in a statement.“With the insights of the expert practitioner panel, EIOPA will develop superior solutions and smart policy advice that incentivises financial innovation for the benefit of the European consumers.”last_img read more

Gold Coast house dubbed one of Queensland’s most popular sells

first_imgThe Mermaid Waters residence at 35 Sundowner Court sold under the hammer.A Gold Coast house that was one of the state’s most popular on the market has fetched more than $1 million under the hammer.Local buyers who recently moved from the UK snapped up the renovated Mermaid Waters residence at its weekend auction but it wasn’t without a fight.Ray White Broadbeach Waters principal Mitch Palmer, who marketed the property with Gema Jackson, said about 50 people attended with five registered bidders vying for the keys. MORE NEWS: Fashion family lists $20m Byron icon Several outdoor living areas and a pool overlooking the water are among its highlights.Mr Palmer said house hunters were out in force and determined buy.“We’re still seeing that demand for property to be quite solid,” he said.“There’s still a large amount of buyers that haven’t been satisfied through this summer market.“We’re still going to see that demand so strong until that stock rebalances.” MORE NEWS: Gold Coast property values on the risecenter_img It fetched $1.52 million before a crowd of about 50 people. There were five registered bidders vying for the keys.The bidding started at $1.2 million before quickly climbing to $1.52 million when the hammer came down.Mr Palmer said it was a battle between Queensland and NSW bidders with the locals winning out this time.“All the bidders really went quite hard, we reached that price fairly quickly,” Mr Palmer said.“It was a young family who bought it, it was a bit of a dream for them.”The four-bedroom waterfront house was the most viewed property going to auction in Queensland last weekend on realestate.com.au.Mr Palmer said its location and impressive renovation were behind its popularity.The house is on a 980sq m block and spans two levels with the main living areas and one bedroom on the ground floor and the three remaining bedrooms upstairs. More from news02:37International architect Desmond Brooks selling luxury beach villa8 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoAn extensive renovation was behind it’s popularity. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning 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.This 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 Rate1xFullscreenHow to bid at auction for your dream home? 01:45last_img read more

Hess raises 2020 budget to $3 billion, puts focus on Guyana and Bakken

first_imgU.S. oil and gas company Hess Corporation has decided to raise its yearly budget to $3 billion with plans to use more than 80% of it on high return investments in Guyana and the Bakken.Liza Destiny FPSO. Source: HessHess’ budget for 2019 was $2.9 billion, which was also an increase compared to the company’s budget in 2018 that totaled $2.1 billion.In an update on Tuesday Hess said that its net production was forecast to average between 330,000 and 335,000 barrels of oil equivalent per day in 2020, excluding Libya. Bakken net production is forecast to average approximately 180,000 barrels of oil equivalent per day in 2020.“We continue to successfully execute our long term strategy, with the majority of our capital budget directed to Guyana and the Bakken — two of the highest return investment opportunities in our industry that will become significant, long term cash generators for our company,” CEO John Hess said.“We are well positioned to deliver industry leading cash flow growth while also achieving significant reductions in our unit costs, which will drive margin expansion and lower our breakeven oil price to below $40 per barrel Brent by 2025.”Chief Operating Officer Greg Hill said: “Offshore Guyana, with the Liza Phase 1 development now on production, our focus in 2020 will be on the Liza Phase 2 development and on front end engineering design work to develop the Payara Field. We also will continue to invest in an active exploration and appraisal program in Guyana on both the Stabroek and Kaieteur Blocks and in the deepwater Gulf of Mexico.”From the $3 billion budget, Hess allocated $1.69 billion (56%) for production, $860 million (29%) for offshore Guyana developments, and $450 million (15%) for exploration and appraisal activities.Relevant in production, Hess has set aside $135 million for production operations in the deepwater Gulf of Mexico, including development of the Esox-1 tieback (Hess 57.14% and operator).In addition, the company has earmarked $170 million for production activities at North Malay Basin (Hess 50% and operator) and the Malaysia/Thailand Joint Development Area (Hess 50%) in the Gulf of Thailand.In developments, Hess has set aside $100 million associated with the Liza Phase 1 development offshore Guyana (Hess 30%), where first production was achieved in December 2019.Hess booked another $400 million for the Liza Phase 2 development, where first production is expected by mid-2022.Furthermore, the company will use $360 million to progress development plans for the Payara field, where production is expected as early as 2023, and for front end engineering and design work for future developments.In the E&P part of business, $450 million to drill exploration and appraisal wells on the Stabroek and Kaieteur Blocks offshore Guyana (Hess 30% and 15%, respectively) and two exploration wells in the Gulf of Mexico.Funds are also included for seismic acquisition and processing in Guyana, Suriname and the deepwater Gulf of Mexico, and for license acquisitions.Spotted 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

Paraw Regatta postponed

first_imgThe paraw is a small boat with two stabilizers and was widely usedfor travel and trade in the 1200s. Up to this day, it is still being used as ameans of transport as well a source of livelihood. Paraw Regatta was established nearlyhalf a century ago primarily to preserve the paraw as a significant link to the earliest period of Ilonggohistory. Paraw Regatta is a race ofwind-propelled native boats. Now on its 48th year, it is considered the oldestsailing event in Asia and the largest in the Philippines. As of Feb. 4, DOH-6recorded a total of 10 persons under investigation (PUI) for nCoV in WesternVisayas. Six of these PUIs were from Aklan, two from Negros Occidental, and twofrom Iloilo City. Mayor Jerry Treñas announced ParawRegatta’s postponement yesterday after consulting with the Department of Health(DOH) Region 6 and the Iloilo Festivals Foundation, Inc. (IFFI). A strikingly fast boat, the paraw makes 20 kph to 30 kph through thewaves.  It was the prototype that inspired Westerners to develop thetrimaran, the fastest sailboats now on the planet. “The postponement is for everyone’ssafety,” said Treñas. These men harness the power of the wind by adjusting the sails to make their paraw (sailboat) move. Their boat is one of the over 40 entries in 2018 Paraw Regatta in the Iloilo Strait between Iloilo City and the island province of Guimaras. IAN PAUL CORDERO/PN DOH data showed that sevenof the 10 PUI were already discharged from the hospital while five were alreadytested negative for the 2019-nCoV. The test results of the others were yet tobe released. This is the second major local eventpostponed due to the nCoV scare. The 2019-nCoV originatedin China’s Wuhan City. There is no confirmed case yet of nCoVinfection in this city, Iloilo province and the rest of Western Visayas,according to DOH-6 yesterday. ILOILO City – The 2020 edition of theParaw Regatta Festival this Feb. 23 to March 1 has been called off overconcerns on the possible spread of the novel coronavirus scare (2019-nCoV). OnTuesday, the Department of Education Region 6announced the postponement of the 2020 Western Visayas Regional AthleticAssociation Meet in Aklan. PUIs are individuals whohave fever or respiratory infection and a history of travel to China within thelast 14 days or a history of exposure to a confirmed 2019-nCoV case. Treñas said Paraw Regatta may bestaged next month “if the situation gets better.” Those who have travelledto countries with positive 2019-nCoV cases are encouraged to coordinate withtheir local health offices and have themselves checked should they experiencefever or respiratory diseases. But according to Treñas, he decided onthe postponement because “want to protect the Ilonggo people from nCoV.” DOH-6 emphasized that itwas closely working with local government units and concerned governmentagencies to intensify case detection and surveillance as well as infectionprevention and control measures. The public is also advisedto remember “NCOV” when they hear or read information about this virus – Never share unverifiednews/articles; Check yoursources before sharing; Onlysource information from DOH official channels; and Verify news information at www.doh.gov.ph/2019-nCoV and Department of Health Western Visayas CHD facebookpage. The DOH can also bereached through its Health Emergency Management Staff (HEMS) Hotline No. (033)332-2575 and 332-2329 local 149./PNlast_img read more

Hill expands prescription drug education program

first_imgIndianapolis, In. — Attorney General Curtis Hill today announced plans to expand an innovative digital curriculum for high school students that informs them about safe use of prescription drugs and ways to avoid the risks of substance abuse.“By educating students about the dangers of prescription drugs, we can prevent tragedies and promote smart choices,” Attorney General Hill said. “Sadly, almost half of all teens incorrectly believe that prescription drugs are always safer than illegal street drugs. We need to correct these misconceptions and empower teens to be part of the solution to the drug crisis devastating so many lives.”Called the Prescription Drug Safety Network, the program was launched on a pilot basis earlier this year in Indianapolis through support from Walmart. Through interactive scenarios and self-guided activities, students learn facts about drugs, how to properly use and dispose of them, and how to step in when faced with a situation involving another person’s misuse. The course is aligned with the Centers for Disease Control’s National Health Education Standards and state academic standards.The expansion will increase the reach of the program to students across 19 Indiana counties. It occurs at no cost to the schools where it will be implemented. Financial support is provided by the Office of the Attorney General, Walmart and North Central Health Services (a non-profit hospital and grant-making organization).Developed by education technology leader EVERFI, the course uses evidence-based strategies to improve student preparedness, behaviors and attitudes toward making safe decisions about prescription drugs. Data shows that students in the pilot year achieved a 49 percent increase in knowledge from pre- to post-course assessments.“The greatest jumps in knowledge were around how to support a friend who may be at risk for misuse and abuse of prescription drugs,” said Maddy Murphy, director of global partnerships at EVERFI. “The Prescription Drug Safety course is aligned to national health education standards to help schools implement the program seamlessly into their curriculum. Here in Indiana, the course is primarily used within the health education classes.”Walmart Senior Vice President for Health and Wellness Paul Beahm praised the program’s effectiveness.“As a dedicated community partner, Walmart strives to improve the health of families,” Beahm said. “Walmart’s work with the Prescription Drug Safety Network is a critical pillar in Walmart’s broader Opioid Stewardship initiative that addresses the opioid crisis from all angles, including providing disposal services, limiting prescriptions, and supporting policies around Prescription Drug Monitoring Programs.”Stephanie Long, president and CEO of North Central Health Services, spoke of her organization’s financial involvement in bringing the program to eight Indiana counties. “Our organization’s vision,” Long said, “is to create healthier communities through the delivery of behavioral health care and the support of technological and scientific advancement, education, quality of life, and humanitarian community activities.” The 10 counties in which the program is being funded by the Office of the Attorney General are Crawford, Dearborn, Fayette, Henry, Jennings, Ripley, Scott, Starke, Switzerland and Washington. The office will provide $20,000 annually for three years.The eight counties in which the program is being funded by North Central Health Services are Benton, Carroll, Clinton, Fountain, Montgomery, Tippecanoe, Warren and White.Walmart funds the program in Marion County.last_img read more

UoN lecturer Dr. Ken Ouko laid to rest in Homa Bay

first_img. University of Nairobi lecturer Dr Ken Ouko who succumbed to COVID-19 complications on Saturday was Friday laid to rest at his rural home in Kamuma, Nyandiwa Village, Homa Bay County.Ouko aged 56 years was receiving treatment at the Agha Khan Hospital where he was admitted after a positive COVID-19 diagnosis.Until his death, he was a senior lecturer at the Department of Sociology at the University of Nairobi. Also a, a sombre mood engulfed Nyangii’ela village in Homabay County Friday morning as the body of Marianne Awuor Adumbo, a nurse who died from COVID-19 related complications was being laid to rest at her home in Homa Bay County.Also Read  KNCCI training to help special group SMEs cope during COVID-19Marian who was admitted to a Kisii Hospital died last Sunday a week after giving birth to a baby boy.Also Read  MOH told to vacate, fumigate schools ahead of reopeningMourners who came to witness the final send-off of a fallen frontline worker could not control their emotions as the body of Miss Adumbo was being put to the final resting place in her rural home.The family eulogized their daughter as loving and hardworking.Marian Awuor Adumbo,Those who worked with her knew her as a committed and humble servant to all.Marian reportedly gave birth to a baby boy while under high dependency care including oxygen augmentation. So far, 10 healthcare workers have succumbed to the COVID-19 disease while more than 700 others have been infected by the deadly virus.Also Read  Relief for families as MOH revises Covid-19 burial protocolsAs of Thursday, the national tally of people with COVID-19 was 23, 873 after 538 more tested positive from 6,195 samples tested.Cumulative tests in the country now stands at 335, 318.The number of people who have also died has risen to 399 after 8 more patients died in the last 24 hours.center_img His death brings to five the number of UoN lecturers who have died of COVID-19 since the pandemic struck the country in March.Get breaking news on your Mobile as-it-happens. SMS ‘NEWS’ to 20153last_img read more

Rooney’s options are limited – Owen

first_img Rooney, who slapped in a transfer request in 2010 because he felt United’s squad was not good enough, was surprisingly dropped for the Champions League defeat by Real Madrid on Tuesday night in the kind of snub that is usually followed by a hefty shove through the door marked exit by manager Sir Alex Ferguson. The only problem is, there are not many suitors out there, and Owen told TalkSPORT: “Sometimes when you’re at the level he is at you don’t have many options. If you are a mediocre player you have 20 teams in England and aboard that you can move to. If Wayne Rooney moves, where does he go to? Real Madrid, Barcelona, Bayern Munich, Manchester City, Chelsea and PSG, there’s only half a dozen teams.” Michael Owen believes Wayne Rooney could find himself lacking options if he severs ties with Manchester United at the end of the season. He went on: “It’s just speculation though. “He’s been dropped for one game and I’m sure he will bounce back. “Obviously Wayne has got to get his head down now and start recapturing his best form “He’s certainly got the right attitude and ability to get back into the manager’s thoughts.” Much interest will now be focused on Ferguson’s team selection for Sunday’s FA Cup quarter-final with Chelsea. If Rooney doesn’t make that, it is hard to see a way back. Owen added: “For Rooney not to start is a real kick in the teeth and it’s got to be a big worry for him. It’s the biggest game of the season and the manager has shuffled his pack and not included him. “Wayne will take it one of two ways. He will either get his head down, try and improve and force his way back into the team, or he’ll think, ‘the manager has not picked me for the biggest game, he obviously doesn’t fancy me’, and it might not be the end of the story.” center_img Press Associationlast_img read more

Lennon undecided over future

first_img Press Association The Northern Irishman has guided the club to the Clydesdale Bank title this season in fine style and could secure the double with victory over Hibernian at Hampden on May 26. But Lennon admits he is not sure what the future holds after that and has not ruled out an exit from Celtic Park this summer. When asked where his future lies on the BBC’s Football Focus programme, Lennon said: “I don’t know.” Neil Lennon will hold talks about his future as Celtic manager after the Scottish Cup final.center_img He added: “I’ve got magnificent support from chief executive Peter (Lawwell) and the board, I’ve got a great club here and a great group of young players. “But you just don’t know what’s around the corner and what challenges lie ahead for you, not just in your professional life, but in your personal life as well. “So we’ll take stock of everything after the Cup final, have a sit down and see what we do for next year.” last_img read more

Phillips remains Guyana’s brightest female sprint prospect.

first_imgIN 2013 she began to gain stride and by 2015 Guyana’s Kenisha Phillips was hailed among the best next generation of Guyanese athletics, driven by the historic fastest-ever 12-second 100m win at the National Schools Championships.Phillips remains Guyana’s brightest female sprint prospect, but despite all her accomplishments locally, the Buxtonian continues to struggle to find her footing regionally.She believes nervousness has been her major issue, but as time progresses, Phillips says working on her confidence will be her top priority when she hits the track at the big meets.Phillips recently was among the 12 athletes who represented Guyana at the CARIFTA Games last month in Curacao, where she took part in the Girls’ youth 100m and 200m but returned medal-less.“A lot of people – with this being my second year – expected me to perform better, but I was nervous,” she declared.Kenisha PhillipsIt was another disappointment for the 16-year-old, who had only last November failed to medal at the South American Youth Championships, and also had a difficult time medalling at CARIFTA 2016.Despite clocking great times prior to attending overseas meets, Phillips clocks some of her slowest times at overseas meets.At CARIFTA, in the 200m, Phillips ended 24.92 seconds, her slowest time of the season, after clocking her personal best 24.47 seconds just a month earlier.In the 100m she finished with a time of 12.15 seconds, despite a SB 11.84 seconds.Nonetheless, she is not worried about the past, adding that she is focused about her future.“I was a little disappointed because I didn’t even run my personal best. But right now I’m trying to put it behind me and hope for the best next year. I just have to try to forget about it and keep training,” she said when Chronicle Sport caught up with her training at the National Park earlier this week.As she moves on, Phillips wants to focus more on building her confidence with the ultimate aim to emulate her idol Usain Bolt.last_img read more

The Latest: UCI says BMX world championships canceled

first_img Associated Press More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___The International Cycling Union says this year’s BMX world championships have been canceled because of the coronavirus pandemic. Sixteen players and officials from Bulgarian soccer club Cherno More have tested positive for coronavirus.The club from the Black Sea town of Varna says 12 players are among the positive cases and adds “all players who tested positive are quarantined and we have taken the necessary precautions.”Cherno More played a league game against Tsarsko Selo in Sofia on Thursday. The laboratory that conducted pre-match tests admitted the following day that it had not announced that one of the players on the team from Sofia had tested positive.Cherno More says the club is still ready to play on Tuesday against Arda Kardzhali despite the positive tests. The quarantined players would be replaced by members of the team’s junior squad.___ The Austrian soccer league has started an investigation into the coronavirus testing procedures of all 16 second-division teams after three players from one club tested positive over the weekend.The league says each club must provide receipts and test results to prove that all players have been tested on a weekly basis since play resumed on June 5 after a 12-week break.The investigation comes after last-place Kapfenberger SV apparently breached the anti-coronavirus rules by failing to structurally test its players.The league opened proceedings against Kapfenberg on Monday.___ The event was scheduled to be held in Houston in May and was at first postponed.The UCI says no new host was found “despite its best efforts to come up with an alternative.”The next BMX worlds are scheduled to start in Papendal, Netherlands, in August 2021. That is one week after the Tokyo Olympics. Four BMX medal events are on the Olympic program.The UCI also says the 2020 season in BMX Freestyle Park and Flatland World Cup will not happen.___ The Latest: UCI says BMX world championships canceled Two more badminton tournaments have been canceled in the revamped calendar because of the coronavirus pandemic.The China Masters in Lingshui was canceled after already being moved from February to May and then to August.It was to be the first comeback event but that’s now expected to be the Chinese Taipei Open in Taipei from Sept. 1-6.The Dutch Open in Almere in October was also put off for this year.___ July 7, 2020last_img read more