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Norway, Seat of World’s Biggest Sovereign Wealth Fund, Urged to Modernize Its Investment Strategy, Including on Renewables

first_imgNorway, Seat of World’s Biggest Sovereign Wealth Fund, Urged to Modernize Its Investment Strategy, Including on Renewables FacebookTwitterLinkedInEmailPrint分享Reuters:Jobs, taxes and schools will be top of Norwegian voters’ minds when they go to the polls on Sept. 11, but it’s what to do about the nearly $1-trillion sovereign wealth fund that may be the next parliament’s biggest challenge.The world’s largest sovereign wealth fund, pooling Norway’s revenues from oil and gas production, has been managed for nearly two decades with a focus on avoiding risk and conflicts of interest.With prices of crude oil down by more than half in the past three years and returns below target, policymakers and critics agree the fund is due for an overhaul. For Norway, the difficulty is building a political consensus around what it should look like.“It is more an academic topic than a bread-and-butter issue for voters but … the coming months are absolutely crucial,” said Torstein Tvedt Solberg, an opposition Labour Party parliamentary candidate and its spokesman on the fund.Norway’s SWF has returned 3.79 percent per year on average since it opened in 1998. With the pot always growing – now at two-and-a-half times GDP – the fact that that’s short of the target four percent hasn’t been a big problem.Last year, however, the government had to make its first net withdrawal to supplement a state budget hit by the fall in oil prices and lower state revenues from oil and gas production, which accounted for half of Norway’s total exports in 2016. More net withdrawals are expected in the years ahead, economists say.Norway’s returns compare to 6.1 percent over the past 20 years at the world’s second-largest wealth fund, the Abu Dhabi Investment Authority, and 4.76 percent at the third-largest, China Investment Corporation, since it began in 2007.Unlike those funds, Oslo’s SWF is managed by a unit of the central bank that must turn to the government to secure a majority in parliament to make strategic changes, no easy feat given that minority governments are common in Norway.Critics say the process of consensus-building among so many disparate interest groups is agonisingly slow and possibly even fiscally irresponsible, however.“They (Norwegian politicians) do not want to take any risk that will end up in headlines. That is why the fund underperforms,” said Sony Kapoor, managing director of the Re-Define think tank and author of several studies on the fund.The new parliament’s first opportunity to make changes will come in the spring of 2018 when the finance ministry presents its next annual white paper to parliament.The two main issues on the table are whether to make the fund independent of the central bank, as a government-appointed commission recommended in June, and whether to allow the fund into new asset classes, including unlisted shares and unlisted infrastructure projects.The inclusion of unlisted infrastructure projects, in particular, is supported by the current fund managers.Investing in such projects — airports, roads, bridges or wind farms — has been a hot topic in recent months. The opinions of politicians are mixed, however, and not necessarily along party lines.Tom Sanzillo, director of finance at the U.S.-based Institute for Energy Economics and Financial Analysis, said the potential increase in returns is well worth the risk, and expressed frustration about the hesitation.“They seem to be walking away from a market that is a trillion dollar and that is growing exponentially in the coming years. This is not prudent,” said Sanzillo, who wrote a report on renewable energy infrastructure investment and the fund.More: Norway’s risk-averse wealth fund considers next moveslast_img read more

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3 unhealthy habits you can easily break today

first_img 63SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John Pettit John Pettit is the Managing Editor for CUInsight.com. John manages the content on the site, including current news, editorial, press releases, jobs and events. He keeps the credit union … Web: www.cuinsight.com Details As humans, we’re routine creatures. When it comes to being healthy, there are things we should stop doing, and things we should start doing. Here are 3 unhealthy habits you should break today.Late-night fridge runs: Everybody craves a late-night snack. Sometimes you have to say “no” to your stomach. You probably shouldn’t eat much of anything after dinner, but especially cut down on the carbs. If you’re getting ready to run a midnight marathon, by all means, load-up on the carbs. But if you’re only getting ready to count sheep, you can do that just fine without the help of carbs. Last time I checked, sleeping doesn’t take much energy.Not drinking enough H2O: Your body is made up of mostly water. If you’re drinking coffee all morning, a diet soda for lunch, and an energy drink in the afternoon, you’re not doing yourself any favors. I understand a cup of coffee in the morning, but after that you should switch to water for the rest of the day. ¾ to 1 gallon of water is a good rule of thumb for an adult male.Sleeping too little or too much: There really isn’t a magic number when it comes to the amount of sleep that you need every night. Your body will tell you how much sleep you need to function properly. Try going to bed and waking up at different times and see what works best for you. Too little sleep will mess with your immune system, prevent you from losing weight, and lead to depression. Too much sleep can lead to obesity and diabetes. Listen to your body and be consistent with your sleep patterns.last_img read more

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More avian flu confirmed in Vietnam

first_imgFeb 28, 2005 (CIDRAP News) – Three more cases of H5N1 avian influenza in Vietnam, one of them fatal, were confirmed over the weekend and today, sparking concern over a more widespread outbreak, according to numerous news service reports.Health officials in Vietnam said today that the 14-year-old sister of a young Vietnamese man confirmed last Friday as having H5N1 has also tested positive for the disease. The two, from the northern Thai Binh province, ate a traditional chicken meal at a friend’s home during Lunar New Year celebrations recently.The young man and his sister are hospitalized at Hanoi’s Bach Mai Hospital, the former in critical condition. Their family does not raise chickens, but outbreaks of avian influenza in poultry have occurred in their community.Vietnamese officials have also confirmed that a 69-year-old man from Thai Binh province who died last Wednesday had H5N1 influenza, according to numerous news reports. He, like the siblings above, had eaten chicken over the Lunar New Year. No others in his family have exhibited symptoms.Still another H5N1 infection from the Thai Binh province, this one involving a 36-year-old man, has also been confirmed, according to an item in ProMED-mail citing a Xinhuanet News Agency story yesterday. The patient is reportedly being treated in Hanoi.These cases bring the number of patients in Vietnam with confirmed H5N1 disease since mid-December 2004 to 20, with 13 fatalities.See also:CIDRAP’s case count tableslast_img read more

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Iran parades medical gear, not missiles, for Army Day amid outbreak

first_imgIran on Friday paraded disinfection vehicles, mobile hospitals and other medical equipment as it marked its national Army Day, to underscore the military’s role in battling the coronavirus pandemic which has hit the country hard.The small “Defenders of the Homeland, Helpers of Health” parade, held at a training center before a group of commanders in face masks, was a far cry from the typical Army Day parades, which normally feature marching infantry, missiles, submarines and armored vehicles, with warplanes flying overhead.”Due to health and social protocols, it is not possible to hold a parade of soldiers … The enemy now is hidden and doctors and nurses are at the frontlines of the battlefield,” President Hassan Rouhani said in a message to soldiers, disseminated by state media. Army chief Major General Abdolrahim Mousavi thanked the more than 11,000 military medical staff who are fighting the coronavirus.Iran is the Middle East’s worst-hit country by the COVID-19 respiratory disease. The official death toll rose to 4,869 on Thursday, and a parliamentary report said the actual number might be almost twice as many.Deputy Health Minister Iraj Harirchi has warned that the infection could spread further in autumn. Topics :last_img read more

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Middle blocker Thompson leads defensive attack for UW volleyball

first_imgThe middle blocker is one of the most difficult positions to play in volleyball, but redshirt senior Dominique Thompson has manned that position for Wisconsin the last four seasons.Those who play the position must be tall yet agile to cover a lot of the court and transition quickly along the net. The team’s defense relies on the middle blocker to get some kind of a touch or block on the ball while it’s being cranked to its side of the court.It’s tough to talk about the Badger defense without talking about the senior middle blocker. Thompson is one of the smaller middle blockers in the Big Ten. She stands at only 5-foot-11, while most middle blockers tower over 6 feet tall. But Thompson’s height is deceptive compared to the dexterity of her play. She leads the team’s defensive net play with 33 blocks. On the offensive end, Thompson averages 2.34 kills per set and has a total of 82 kills so far this season.Off the court, Thompson spent a week and a half in Minneapolis training with the U.S. Collegiate National team, where she won a silver medal during the competitive round-robin matches.After Thompson redshirted during the 2012-2013 season, her statistics significantly improved the following year as a junior. Head coach Kelly Sheffield said Thompson is one of his hardest working players, who seems to have it all figured out.“She’s an active learner,” Sheffield said. “She wants to get better, and when you’re in this profession, you want to be around people who really want to get better.”As a senior on the team, Thompson has showed a great amount of leadership and encouragement towards her younger teammates, especially those also playing middle blocker, Sheffield said.“We’ve got two younger ones, Tori [Blake] and Haleigh [Nelson], and she does a great job of helping them and teaching them and mentoring them,” Sheffield said. “You can tell that’s very important to her as well.”Athleticism is in Thompson’s blood. Her mother and father are both successful athletes. Her father played football from 1986-1989 at the University of Minnesota and went on to become the first-round draft pick for the Green Bay Packers in 1990, playing there professionally for five years. But volleyball is a particularly genetic trait for Thompson. Her grandpa, uncle, aunt and mother have all played competitive volleyball. Even Thompson’s sister, Indigo, is currently a setter at Virginia Commonwealth University.Thompson attributes her persistence and success in volleyball to her family, saying they’ve always pushed her to perform to the best of her ability, even when she was a little kid playing outside in her backyard.It’s easy to assume that someone who is so talented at something has loved it from the very beginning, but that’s not the case for Thompson. A surplus of volleyball players in the family caused her to turn away from the sport and focus on basketball from an early age. During her first year of high school, Thompson began to change her mind on which sport she wanted to pursue.“When I was younger, I did not want to play volleyball because there was so much volleyball in my family,” Thompson said. “But I started my freshman year, and it just clicked for me. My coaches gave me little bits of information at a time, and I kept absorbing it, and I realized that what I wanted to do was play the sport of volleyball.”Thompson plans to graduate from UW in the spring with a degree in community and non-profit leadership. She says she may move back to her home state of Minnesota and work for a non-profit organization there after graduating but still stay involved with volleyball in some way.“I will somehow stay connected with volleyball,” Thompson said. “I love volleyball. It’s something that I really know.”Wherever the future may take her, Thompson said she’s enjoyed her time playing Division I volleyball at Wisconsin and will carry the memories she’s made with her for the rest of her life.“I think that Wisconsin is the ultimate college sports town,” Thomson said. “It’s amazing to be able to play for these people who love this college so much. Division I, it’s the best. I love it.  I’ve loved it all four years.”Not only has Thompson helped her team to a national championship game, but off the court, she presents herself as a leader and teacher that her teammates and coaches look up to.“You like to be around really good people, good character people,” Sheffield said about Thompson. “Before even being on the court, you know that you’re around somebody who you have a lot of respect for as a human being.”last_img read more

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Canucks take charge with 3-2 victory over defending Cup champs

first_imgMikael Samuelsson’s third period goal snapped a 2-2 tie to lift the Vancouver Canucks to a 3-2 victory over the Blackhawks in NHL Stanley Cup Playoff action Sunday night at the United Centre in Chicago.The win gives Vancouver a stranglehold on the best-of-seven series leading 3-0. Game four is Tuesday in Chicago at 5 p.m. PDT. Samuelsson backhanded a rebound past Chicago goalie Corey Crawford after the Canucks had just killed off a penalty.Duncan Keith and Patrick Sharp scored power play goals for the Hawks.Christian Ehrhoff and Daniel Sedin scored 54 seconds apart to give the Canucks a brief 2-1 lead.The story of the game was Canuck goalie Roberto Luongo who faced 32 shots. Most of the shots came in the first period where Chicago had four power plays, including a two-man advantage.Luongo stopped Patrick Kane on a point-blank shot at Patrick Sharp on a blast from near the slot area.last_img read more

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NO PROSECUTION INTO THE DEATH OF POPULAR YOUNG DONEGAL GAA STAR

first_imgThe late Conal GildeaThere will be no prosecution into the death of popular Ardara GAA player Conal Gildea, who died last year after falling into the River Liffey. The body of the late Conal Gildea was retrieved from Britton Quay, in Dublin’s city centre on April 29th, 2013. Gildea was a teenage sensation for Ardara, and is regarded as one of the most talented players the club ever produced.Gildea was employed as a plumber in Dublin at the time of his tragic death.At his inquest last year, the cause of death was determined as drowning, although the Gardaí were carrying out an investigation into issues of ‘supply’ that could lead to prosecution.However, at the Coroner’s Court yesterday Inspector Martin Mooney said a file had gone to DPP with instructions returned that there is to be no prosecution.The inquest was then adjourned for a full hearing on January 9th 2015.NO PROSECUTION INTO THE DEATH OF POPULAR YOUNG DONEGAL GAA STAR was last modified: October 18th, 2014 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Conal GildeacourtsdeathDPPinquestnewsProsecutionRiver Liffeytragiclast_img read more

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‘SERIAL ROAD OFFENDER’ BANNED FOR FOUR YEARS

first_imgA Raphoe man who was described by a judge as a serial road traffic offender has been disqualified for failing to give a breath sample. Andrew Galbraith(54) of 28 Cathedral Hill, Raphoe pleaded guilty at Letterkenny District Court to drink driving at Cathedral Hill, Raphoe on July, 14th, 2013 and failing to sign an analysis statement at Letterkenny Garda Station on the same date. he also admitted giving a false name and address to gardai on the same date at Glenmaquinn, Convoy.Inspector David Kelly said Galbraith was stopped by gardaí after the report of a suspected drink driver at Glenmaquinn, Convoy. Gardaí who attended the scene observed a white van which was driving very slowly and swaying from side to side.Gardaí spoke to the driver and detected a strong smell of alcohol. He was arrested at 4.30 a.m.The court heard he was later abusive to gardaí at Letterkenny garda station.The court heard that he had previous convictions for driving without insurance and a previous conviction for drink driving.Solicitor Kieran Dillon said his client apologisied for his behaviour.He said the time had been a difficult one for the separated welder who finds being on his own difficult.Galbraith, he said, works in Northern Ireland and abroad and is actively seeking employment.Judge McLoughlin said Galbraith was a serial offender who has no respect for road traffic law. He was fined €650 and disqualified from driving for four years.‘SERIAL ROAD OFFENDER’ BANNED FOR FOUR YEARS was last modified: November 27th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:courtsnewslast_img read more

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DD Motoring: Testing out the all-new Toyota Corolla Hybrid Saloon and Hatchback

first_imgThis week Donegal Daily’s motoring columnist Brian McDaid was out in two versions of the all-new Toyota Corolla both hybrid, a hatchback, and a saloon.In a time where everyone is looking and demanding the smallest carbon footprint, this new Corolla Hybrid may have the biggest shoes to fill.We had the new hatchback and the new saloon out on the road this week, both based on the same platform but geared at very different markets. Advertisement No one likes change especially when something works well and that has been the case with Corollas over the years.The New Toyota Corolla Hybrid Saloon which went on show at Kelly’s in Letterkenny and and Mountcharles and now is available for a test drive. Photo Brian McDaid.The New Toyota Corolla Hybrid Saloon which went on show at Kelly’s in Letterkenny and and Mountcharles and now is available for a test drive. Photo Brian McDaid.I know, I had three of them and racked up big miles on all them and they never gave any bother.Now car buyers are being guided towards low emissions and away from diesel and have to look towards a different type of car.Toyota and the worlds best ever selling car, the humble Corolla, has evolved yet again, this time 53 years on since it was introduced in 1966. Advertisement Now it’s back as a hybrid.If that wasn’t a big enough transition the Saloon is also a replacement for the old Carina or Avensis range which has faded from the Toyota range.Ahead of the gameToyota has been the leaders in the development of hybrid family cars for over twenty years and that development is now at a stage now with the launch of the new Corolla that you could be mistaken for thinking that these new hybrids are not hybrids at all.The new Corolla Saloon, which was my choice, looks like an ordinary car on the road if you didn’t spot the small blue badge on the boot lid. It just looks like a normal four-door family saloon plus the fact that the petrol engine is that quiet now compared to diesel, it’s very hard to tell when you are running on the petrol engine or on the electric motor.The All New Toyota Corolla Hybrid Saloon which has recently gone on sale in Ireland. Photo Brian McDaid.The All New Corolla Hybrid Saloon which we drove this week. Photo Brian McDaid.The New Toyota Corolla Hybrid Saloon which we drive the week. Photo Brian McDaid.After a while behind the wheel, you will realise that this fact doesn’t matter to you because these cars are more efficient at making decisions, so you really don’t have to worry about it.I had the Corolla Sport Hatchback out for a morning and was managing 4.2L/100Km on a long run and that evening.I was stuck in traffic around Letterkenny in Corolla Luna Saloon which was just perfect for the purpose over heavy urban driving and was getting 4.5L/100Km I know these were short term fuel tests but they were good indications of what this 1.8 Petrol/ battery powered car is capable of doing.The hatchback probably drew the most attention which was in white a black roof and beautiful sports rims and had more of a sports theme with red piping around the dash and a nice sportive bucket seat.All information on both cars is displayed on a big screen in the middle of the dash, and again there is very little to tell you that you are in a hybrid when you are driving this car.Town driving in the New Corolla Hybrid returned an average of 4.5l /100km Photo: Brian McDaid.If you want, you can go in and display a visual on where that car is receiving the power from being it battery, engine or both or when you are going downhill it shows the car harvesting power from the road wheels to recharge the battery.The hatchback starts at €27,000 and the saloon prices start around the €30,000 mark.At a launch of the New Corolla Hybrid, a guest who is already driving a Hybrid Yaris described to me over coffee and canapés what it was like to drive these new cars.“Once you sit behind the wheel of one of these hybrid yokes, that’s you f####d.”What I think they were trying to say was how easy to was to drive these new cars which all have automatic gearboxes and the fact that these would spoil you and would never settle for driving a car with a manual gearbox again.And for me, this is the benefit of driving these new hybrid automatic gearboxs, which are silky smooth0-100kms in 7.9 secondsGone are the days of hybrids and automatics only serving the needs of one driver type. Slow, Noisy and sore on fuel they are not.The new two-litre Corolla Hybrid which is on the way soon to Ireland will put many the hot hatches to shame with 0-100kms in 7.9 seconds. and yet will match any diesel on miles per gallon but most importantly it will do it quietly will satisfy the emissions requirements.The All New Corolla Hybrid Hatchback which we tested this week. Photo Brian McDaid.The All New Corolla Hybrid Hatchback which we tested this week. Photo Brian McDaid.A view of the boot on the All new Corolla Saloon Hybrid. Photo Brian McDaid.But only getting out and in behind the wheel of a hybrid will really give you the benefit of how good this new Corolla feels on the road. In the meantime, I want to end on a story from over 40 years ago which gave automatics the brand some still think they are.Automatic assumptionsMy earliest memories of automatic cars was of an Allegro Vanden Plas which belonged to a cook from India who came to Letterkenny to work in the old Centre Spot Cafe at the Market Square, Bal always wore his long white chef coat everywhere he went.He had an infectious personality and all of Letterkenny knew Bal.An Automatic Allegro Vanden Plas like Bal’s. A familiar sight and sound around Letterkenny many years ago.The mustard coloured Vanden Plas had a Rolls Royce Type grill, massive chrome hubcaps, leather seats and a walnut dash and of course its unique sounding three-speed automatic gearbox which meant you could head Bal’s car long before you could see it as he would head up the Church Lane and in the narrow gateway where I worked as a mechanic to Danny Caddye’s Garage.Hello, Mr. Danny was always the joyful greeting that Bal would give as he presented his rare looking family car for another bit of running repair.For you that are wondering what this car from nearly 40 years ago has to do with hybrid motoring of today the answer is absolutely nothing except for the fact it’s an automatic, which is nothing like the automatic gearboxes that come in any hybrid.But automatic cars from yesteryear like Bal’s Allegro stick in people’s mind and drivers of manual gearbox powered cars still think or believe that automatics have never changed but how wrong and out of touch they could be.Happy motoring FolksDD Motoring: Testing out the all-new Toyota Corolla Hybrid Saloon and Hatchback was last modified: March 8th, 2019 by Brian McDaidShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:dd motoringToyota Corollalast_img read more

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Yahoo Homepage Gets A Risky But Overdue Facelift

first_imgTags:#social media#web#Yahoo Related Posts A Web Developer’s New Best Friend is the AI Wai… taylor hatmaker 8 Best WordPress Hosting Solutions on the Marketcenter_img Top Reasons to Go With Managed WordPress Hosting A homepage redesign would hardly be noteworthy when it comes to most sites on the Web – but for Yahoo, It’s a revolution.Yahoo – long in the tooth among its rivals – doesn’t change early or often, historically speaking. But Wednesday the company rolled out a much-needed update to its cluttered Web hub, Yahoo.com. Marissa Mayer, the company’s refreshingly bright-eyed new CEO, just keeps picking up the pace.Yahoo’s Homepage Enters The Social EraSince taking the top role at the troubled company, the former Googler has overseen a handful of small acquisitions aiming to bolster Yahoo’s set of mobile apps. Now, the iconic purple Yahoo homepage cleans up its look with a flatter, more modern design while adding endless scrolling, stealing a page from the social media playbook of sites like Tumblr and Twitter. Yahoo also updated its core apps today to reflect the changes on Yahoo.com.In a blog post on Yodel Anecdotal, Yahoo’s somewhat obscure and unfortunately named company blog, Mayer writes:“Designed to be more intuitive and personal, the new Yahoo! experience is all about your interests and preferences. Since streams of information have become the paradigm of choice on the web, we’re introducing a newsfeed with infinite scroll, letting you experience a virtually endless feed of news articles.”True to form, Mayer’s mission to inject Yahoo into social and mobile relevance plays out in the redesign. The new homepage cleans up the site’s interest channels (Entertainment, Finance, etc. are moved onto tabs) and allows users signed into Facebook to browse a socially rethought version of the news stream.Back when Facebook’s Timeline first launched, Yahoo was an early partner of the social reading experience, which allows users to passively share the stories they see across the Web. The company continues its evolution in this direction, without sacrificing too much of its DNA. Messing With Imperfection… And An Old FormulaBlame it on Internet Explorer defaults or less-than-savvy Web surfers, but Yahoo’s homepage is still one of the Web’s most trafficked sites. Yahoo.com currently ranks as the #4 most popular website in the U.S. according to Alexa, trailing only Google, Facebook and YouTube.But Yahoo is unique among the top slots – Google’s spartan homepage is a search engine, of course, and YouTube and Facebook are both social platforms. Yahoo’s homepage remains a busy hub of all things Y!, from its curated front page news carousel to Yahoo Mail and everything in between. It might not be pretty, but the Yahoo.com we know keeps vast amounts of traffic churning and ad revenue pouring in. Considering the scale of traffic it drives, tinkering with the homepage formula even a little bit entails significant risk. After all, if it ain’t broke don’t fix it – but if you ask Marissa Mayer, socializing it a little couldnt hurt. Why Tech Companies Need Simpler Terms of Servic…last_img read more

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