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Portsmouth & Fareham offices

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Govt housing subsidy program hampers market growth, World Bank says

first_imgIt has also launched a public housing savings program (Tapera), which requires employers and workers to contribute to a mortgage loan scheme similar to universal healthcare insurance.However, the lower-than market interest rate made possible by the subsidy has also made it impossible for private lenders to compete in the housing market, the World Bank warned.The mortgage subsidy allows eligible low-income households to pay mortgage interest rates of 5 percent for a 20-year tenure, far lower than private banks interest rates of around 7 to 9 percent for the first three to five years, the World Bank highlighted.“The subsidy program is designed to distort the housing market, as lenders cannot compete against the FLPP and SSB schemes,” Harrison said.The Washington-based development lender also warned that the SSB loan program mechanism created Rp 7.5 trillion in future liability per year from interest gap payments for 140,000 homes. Between 2015 and 2018, the government accumulated Rp 30 trillion in future liabilities, the World Bank estimates.Responding to the report, the Public Works and Housing Ministry’s financing strategy director Herry Trisaputra Zuna stated that the housing market still required the government’s intervention in the form of subsidies.“The housing market is not ideal, so we cannot rely solely on the market and need to make some interventions,” he said during the same webinar.Herry said the World Bank’s recommendation could also not address the government’s main issue with the country’s housing program, which was lack of funding.“Our problem is we have limited money now, and that’s why we have to modify installments for the mortgage-linked down payment assistance [BP2BT] program,” he said.Real Estate Indonesia (REI) also stated in April that the sector relied heavily on subsidized housing programs, which account for half of the industry’s revenue, according to the association members data.Topics : In addition, the KPR property price cap has also led to developers building houses that are located outside of metro areas to bring down prices. According to World Bank data, 57 percent of FLPP-subsidized housing units were located in rural areas in 2017, a huge increase from 36 percent in 2016.Hence, the housing market’s share of national GDP has stagnated at 3 percent for the last five years, falling behind neighboring countries such as the Philippines and Cambodia, where the housing market’s share of GDP is above 4 percent, Harrison said.The government has been struggling to reduce the country’s housing backlog, which stood at 7.6 million in 2015. President Joko “Jokowi” Widodo’s administration aims to build 1.25 million houses this year to fulfill its commitment to build 1 million houses per year, partially aided by the mortgage subsidy program. Since 2015, the beginning of Jokowi’s tenure, around 4.8 million houses have been constructed, and his administration plans to build an additional 3.9 million houses by 2024.In April, the government rolled out new housing loan subsidies amid the COVID-19 pandemic for 175,000 low-income families nationwide and increased the salary ceiling for eligible recipients to Rp 8 million for all types of housing from the previous Rp 4 million for landed houses and Rp 7 million for low-cost apartments. The government’s housing subsidy program designed to resolve the country’s mounting backlog might backfire by hampering property industry growth and leading to the construction of lower quality homes, the World Bank has warned.World Bank housing specialist Dao Harrison warned on June 25 that the government’s ongoing housing mortgage (KPR) subsidy programs such as the Housing Financing Liquidity Facility (FLPP) and interest rate subsidies for loan installments (SSB), which are reserved for landed houses at around Rp 160 million (US$11,306), slowed lending growth and discouraged developers from building high-quality homes.“Our survey shows that KPR consumers aspire to purchase houses at a far higher price at Rp 300 million. Developers could build better homes worth an additional Rp 140 million on top of the maximum KPR property price and lenders could provide more lending to homeowners, but they don’t,” Harrison said during an online presentation of World Bank’s latest report published on June 22.last_img read more

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Wednesday people roundup

first_imgDexion Capital – Magnus Spence has been appointed head of asset management, responsible for expanding the range of real asset and alternative credit fund offerings. Spence has held a number of leading roles at Mercury Asset Management/Merrill Lynch Investment Managers, and in 2002, he co-founded Dalton Strategic Partnership.Sprenkels & Verschuren – Edward Snieder has joined pensions adviser Sprenkels & Verschuren as partner. Snieder is adviser for several players in the Dutch pensions and asset management market. Since 2009, he has been a partner at KPMG, where he started in 1997 as an adviser.Stamford Associates – Alexandra Haggard has been appointed to the newly created position of chief executive. She joins from Russell Investments, where she was managing director of product and marketing for the EMEA region.Société Générale Securities Services – Christophe Baurand has been appointed global head of commercial, marketing and liquidity management. Based in Paris, Baurand replaces Massimo Cotella, who has left the company.BlueBay Asset Management – Katherine Wentrup-Estupinan has been appointed sales director to support BlueBay’s alternatives business. She joins from Strategic Investments Group, a boutique alternative investments advisory firm, where she led the business development and investor relations effort within Southern Europe.Syntrus Achmea Real Estate – Erik van der Struijs has been appointed team leader for communications and marketing at Syntrus Achmea Real Estate & Finance in Amsterdam. He has been spokesman for pensions and asset management at Syntrus Achmea since 2010. Marco Simmers has been appointed as his successor.Caceis Investor Services – Ronald Borst has started as senior business development manager at Caceis Investor Services. Over the last two years, Borst was institutional services sales director at custodian Kas Bank. Since 1996, he has held several positions at Kas Bank.Mirabaud Asset Management – Patrick Huber has been appointed senior portfolio manager, responsible for Swiss large-cap companies. He joins from Lombard Odier Investment Managers, where he had been responsible for the Swiss equities team. APG, TKP Pensioen, ING Investment Management, Dexion Capital, Sprenkels & Verschuren, Stamford Associates, Société Générale Securities Services, BlueBay Asset Management, Syntrus Achmea Real Estate, Caceis Investor Services, Mirabaud Asset ManagementAPG – Jan Bonenkamp has been appointed strategist for asset-liability management at the €396bn Dutch asset manager APG. Previously, Bonenkamp was scientific researcher at the Dutch Bureau for Economic Policy Analysis (CPB).TKP Pensioen – Aart-Jan Baaijens has started as a senior account manager at pensions provider TKP Pensioen as of 1 January. Until recently, Baaijens was director of Pensioenfonds Campagne, which has liquidated itself and joined PGB, the €18bn industry-wide scheme for the Dutch printing industry.ING Investment Management – The asset manager – soon to become NN Investment Partners – has appointed Hiroshi Kimura as chief executive of ING IM Japan, succeeding Douglas Hymas. He joins from AllianceBernstein, where he was managing director of client relations and communications and a member of the board. He has also held several leadership positions at Credit Suisse Asset Management, Rothschild Asset Management and Taiheiyo Asset Management in Japan.last_img read more

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Modified, Stock Car qualifying begins at Boone

first_imgBOONE, Iowa (Sept. 6) – Twenty Stock Car heats and 30 Modified heats set the stage for a pair of qualifying features in both divisions Wednesday at the IMCA Speedway Motors Super Nationals fueled by Casey’s.What’s ultimately at stake this evening at Boone Speedway are the front eight starting spots on the inside row of championship events Saturday. Defending champion Elijah Zevenbergen starts on the pole of the 17th Stock Car heat while 2016 champion Ricky Thornton Jr. starts last in the 23 Modified heat.Last-chance features decide the last six qualifiers for both Hobby Stock and Northern SportMod main events on Saturday.last_img read more

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The Top 10 Sports Stories from 2018

first_imgBatesville, In. — #10. Local College Football teams do great. UC Bearcats capture winning season in 3 years and Purdue Boilermakers bowl eligible for 2nd year in a row.#9. Colts get a winning season with the return of Andrew Luck and The Bengals despite starting strong, woes continue with 3rd straight losing season.#8 and #7. Lawrenceburg bosting with natives J. R. Todd winning The NHRA Funny Car Series and Nick Goepper capturing the Olympic Silver Medal in snow skiing at The Winter Games in South Korea.#6. The Reds. Another disaster 90 plus losing season. Manager Bryan Price gets axed early. David Bell named manager during off season which features many changes including the recent blockbuster trade with Dodgers.#5. East Central Trojans Football. Coach Justin Roden leaves for Noblesville during off season after Trojans win 4A State Crown. AD and Interim Coach Don Stonefield leads EC to 4th straight Sectional Title. Assistant Head Coach Jake Meiners recently selected as new Head Coach.#4 and #3. Local teams win Regional Crowns and go to Semi-States. Oldenburg Academy Lady Twisters Tennis team goes to Semi-States and Milan Lady Indians Softball team advance to 2A Final 4.#2. Greensburg Lady Pirates reach 3A State Finals.#1. Lawrenceburg Tiger Wrestler Mason Parris wins 3rd consecutive and undefeated State Championship.last_img read more

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Warner century secures ODI series whitewash

first_img((REUTERS) – Opener David Warner smashed his seventh one-day international century for the year to fire Australia to a resounding 117-run win and a 3-0 series sweep of New Zealand at the Melbourne Cricket Ground (MCG) yesterday.The pugnacious left-hander’s majestic 156 from 128 balls rescued the home side after they had stumbled to 73-4 before recovering to a total of 264 for eight at the MCG.Pace spearhead Mitchell Starc took 3-34 as New Zealand’s batsmen were skittled out for 146 in 36.1 overs.Having already scored the most ODI tons in a year by an Australian, Warner drew level with the seven tallied by India’s Sourav Ganguly in 2000.Indian great Sachin Tendulkar, who made nine in 1998, is the only player to have scored more.“It’s always special when you put runs on the board, but credit to the bowlers … they really executed today,” said Warner, who was named man-of-the-match and the series.“I’m hitting the ball well but I’ve got to keep on training.”After his usual run and jump into the air upon raising his hundred, Warner added his new celebration, holding his right hand into the air and his left, holding the bat, to his chin.He said it was a nod to his teammates who had given him a new nickname, ‘the Reverend’.“The boys call me ‘the Rev’ now because they reckon ‘the Bull’s been tamed a little bit,” said vice-captain Warner, a notorious hothead in previous seasons.Warner, who hit a match-winning 119 in the second match in Canberra on Tuesday, was dismissed with the last ball of the innings, run-out by paceman Trent Boult after having blasted 13 fours and four sixes.Openers Martin Guptill and Tom Latham started New Zealand’s chase positively, moving to 44 before Latham threw his wicket away for 28 with a flick straight to square leg.After Kane Williamson’s dismissal for lbw on 13 by James Faulkner, the wheels fell off for the touring side, who lost three wickets for nine runs in three overs.Captain Steve Smith was dismissed for a duck but wrapped up the win by taking a brilliant one-handed, diving catch at slip to remove New Zealand number 11 Trent Boult for one.Whitewashed 5-0 away to South Africa, Australia were back to their best on home pitches.“It was a nice way to finish …. We needed some improvement after South Africa and we certainly showed that here,” said Smith.“We’ve just done the basics really well and when you do that, especially on your home grounds, you go a long way to winning games of cricket.”AUSTRALIA inningsD. Warner run-out 156A. Finch c Nicholls b Boult 3S. Smith c Nicholls b Boult 0G. Bailey c Santner b de Grandhomme 23M. Marsh b de Grandhomme 0T. Head b Santner 37M. Wade c de Grandhomme b Santner 14J. Faulkner c Guptill b Boult 13M. Starc not out 0Extras: (lb-5, nb-2, w-11) 18Total: (for 8 wickets, 50 overs) 264Fall of wickets: 1-6, 2-11, 3-73, 4-73, 5-178, 6-226, 7-262, 8-264.Bowling: T. Southee 10-2-45-0 (w-3), T. Boult 10-1-49-3 (w-2), L. Ferguson 8-0-50-0 (nb-2, w-3), M. Santner 9-0-43-2 (w-1), C. de Grandhomme 10-0-50-2 (w-2), K. Williamson 1-0-3-0, C. Munro 2-0-19-0.NEW ZEALAND inningsM. Guptill c Bailey b Head 34T. Latham c Faulkner b Cummins 28K. Williamson lbw b Faulkner 13H. Nicholls b Starc 3C. Munro b Starc 20B. Watling lbw b Head 8C. de Grandhomme c Head b Hazlewood 11M. Santner lbw b Starc 15T. Southee c Warner b Faulkner 4L. Ferguson not out 4T. Boult c Smith b Cummins 1Extras: (lb-2, w-4) 6Total: (all out, 36.1 overs) 147Fall of wickets: 1-44, 2-74, 3-79, 4-83, 5-98, 6-113, 7-126, 8-139, 9-143.Bowling: M. Starc 10-3-34-3 (w-2), J. Hazlewood 7-1-22-1 (w-1), P. Cummins 5.1-0-26-2 (w-1), J. Faulkner 7-0-26-2, T. Head 7-0-37-2.last_img read more

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Curtain Falls on NOGIG 2018

first_imgThe champion who has been consistent since the commencement of the tournament was too experienced for his opponent as he used a combination of good serves and powerful rebounds which forced him to make some loose shots and couple of errors that led to his retirement on account of injury after the first set had ended 5-2.In the women single’ s event,Anusionwu Ogechi of NNPC defeated Chizoba Onuoha of Shell 6-4, 6-4 to be crowned champion just as she combined with her colleague, Okwukogu Mercedes to defeat Areje Adegoke and Chizoba Onuoha of Shell 4-0, 2-4, 10/8 in the women doubles.The duo of Nelson Adoki and John John of Chevron won the men’s doubles by beating Obinna Iloeje and William Ibiba 4/1,4/2Meanwhile in the table tennis men’s singles final, 2014 winner Joseph Adebsyor of NCDMB overpowered Surajudeen Keye of NNPC 11-8, 11-7, 10-12, 11-7 to emerge champion.Adebayor who also doubles as chairman of the publicity committee of the games, told our correspondent that it was wonderful wining the title and announced that he was dedicating it to his executive secretary.The women’s single title was won by Blessing Brown of Exxon Mobil who recorded a 3-0 victory over Boma Epelle of NAOC.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram All roads lead to the Teslim Balogun Stadium, Surulere, Lagos for the finals of the 17th Nigeria Oil and Gas Industry Games coming up today.The games which began with the preliminaries of the football event in February will be declared closed by the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru while the Lagos State Governor, Akinwunmi Akinbode will be special guest of honour at the ceremony.The Minister of Sports and Youth Development, Solomon Dalung is also expected. Top executives of the participating companies, top government officials and dignitaries from the sports fraternity will also grace the event, touted as one of the most competitive in recent times.Tournament’s favourite Vincent Kiehi of Total proved book makers right when he had an easy victory over Obinna Iiloeje of NNPC in the finals of the men’ s singles tennis event at the 2018 Nigeria Oil and Gas Industry Games decided yesterday at the tennis court of Ikoyi Club 1938.last_img read more

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Conor McGregor teases UFC fans, could choose new weight-class for his return fight

first_imgLast Updated: 22nd November, 2019 20:04 IST Conor McGregor Teases UFC Fans, Could Choose New Weight-class For His Return Fight In a recent tweet, Conor McGregor left his fans wondering about the weight-class for his return. Know what Conor McGregor tweeted and more about his UFC return FOLLOW US COMMENT Also Read- Khabib Nurmagomedov Calls Conor McGregor An “idiot”, Calls For People To Ignore HimUFC: Conor McGregor teases his weight class ahead of 2020 returnMcGregor, who has fought in three different divisions of UFC, recently posted a picture of himself in all those weight classes. Conor McGregor made his debut in the featherweight division (145 lbs) and went on to become the champion of 144 lbs title before heading towards Welterweight (170lbs). After sharing an intense rivalry with Nate Diaz at the welterweight division, Conor McGregor headed towards lightweight division and knocked out Eddie Alvarez for the 155 lbs UFC Gold. Take a look at Conor McGregor’s aura in three different weight classes of UFC through his recent tweet. 9 months ago Khabib Nurmagomedov calls Conor McGregor an “idiot”, calls for people to ignore him First Published: 22nd November, 2019 20:04 IST Conor McGregor has been keeping a lot of fans wondering about the weight class. The Irish giant suffered a humiliating defeat against lightweight champion Khabib Nurmagomedov at UFC 229 and he is expecting a return in 2020 at Las Vegas. According to Conor McGregor’s manager, the former lightweight and featherweight champion of UFC is going to face Donald ‘Cowboy’ Cerrone in his return nothing has been declared officially. 9 months ago Conor McGregor doppelganger opens ‘The Notorious Restaurant’ in Slovakia 9 months ago Will Conor McGregor and Floyd Mayweather fight inside the Octagon? Also Read- Will Conor McGregor And Floyd Mayweather Fight Inside The Octagon?Also Read- Conor McGregor: Fighter’s Salary, Net Worth And Next UFC Opponent Written By LIVE TV Raj Sarkar 10 months ago Conor McGregor: Fighter’s salary, net worth and next UFC opponent SUBSCRIBE TO US WATCH US LIVE WE RECOMMEND Also Read- UFC: Logan Paul Is Interested To Fight In UFC; Wants To Face Conor McGregorUFC: Will the lightweight journey continue?Conor McGregor had an unsuccessful attempt at the lightweight title and he may not make his return in 155 lbs. Donald ‘Cowboy’ Cerrone is a natural lightweight weight who is equally flexible in the 170 lbs weight class and he can fight McGregor at the welterweight division. Conor McGregor avenged his loss against Nate Diaz in his last fight at 170 lbs and he might choose the welterweight division to mark his return.Also Read- Conor McGregor Doppelganger Opens ‘The Notorious Restaurant’ In SlovakiaConor McGregor vs Nate Diaz re-match (Welterweight Division) 9 months ago UFC: Logan Paul is interested to fight in UFC; wants to face Conor McGregorlast_img read more

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Pride At Stake as Nigeria, Egypt Battle for Tokyo 2019 Tickets

first_imgListed as the number one in the men’s event, Nigeria had a smooth sail to the final with wins over Congo DRC and host – Mauritius in the group and got a bye to the last four to set a semifinal clash against Algeria.Unlike Nigeria which played two matches to berth in the last four, Egypt as the second seeded team defeated Seychelles, South Africa and Madagascar to get a bye to the semifinal where they met Togo.Nigeria made nonsense of Algeria in the semifinal with 3-0 win while Egypt recorded same result against resurgence Togolese team.Just like in the men’s final, the women’s final will be between Nigeria and Egypt after both sides ended the dream of South Africa and Algeria in the semifinal.A confident Mohammed El-Beiali believes Egypt has the chance to retain the title in Mauritius despite the absence of their talisman, Omar Assar.“We are surely ready for Nigeria and we can surprise them in the match. But we will not underestimate the quality of Nigeria,” the 2018 Arab Cup champion said.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Pride and places in the 2019 ITTF World Team Cup in Tokyo will be at stake when Africa’s powerhouses in table tennis – Nigeria and Egypt clash today in the finals of men and women team events of the 2018 ITTF African Championships holding in Mauritius.As it was in the last five years, so it is in Mauritius as the continent’s best table tennis playing nations battle for top spot with both sides aiming to represent Africa at the Tokyo show come November 2019.Both teams lived up to their rating as the top seeds in the men and women events and they have maintained 100 percent in all their matches on their way to the final. But today at the Beau Bassin Sports Complex in Mauritius, they will go up against each other in the men and women events finals.last_img read more

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Austin Rivers sheds light on ‘frustrating’ Rockets offense

first_img Warriors, Kevin Durant face reality he might not return in NBA Finals Austin Rivers is speaking out about his time in Houston.The Rockets’ offense centers around perennial MVP contender James Harden, but Rivers said his dominance of the ball was difficult at times. Rivers signed a one-year deal with Houston during 2018-19 and is entering unrestricted free agency this summer. So there’s no guarantee he’ll return to the team for a second stint.The Rockets have consistently been among the top teams in the Western Conference, but they haven’t gotten over the hump to reach the NBA Finals. They might have to change something to accomplish that feat. NBA Finals 2019: Raptors’ Kawhi Leonard praises team’s trust, load managementcenter_img Austin Rivers responds to @maxkellerman’s criticism about James Harden not coming through for the #Rockets in the biggest moments: “The way we play is for him to do the things he does. I think that’s a very hard thing to do in the playoffs.” pic.twitter.com/BF6cM8D9Js— Alykhan Bijani (@Rockets_Insider) June 7, 2019″He’s (Harden) doing exactly what they’re telling him to do,” Rivers said. “…If you told James ‘yo I’m open pass the ball,’ James would be like ‘I got you.’ But the way we play is for him to do the things he does.”Harden led the NBA in scoring this season, averaging 36.1 points. But the Rockets’ season ended after the two-time defending champion Warriors eliminated them in the second round of the playoffs.Houston’s coach Mike D’Antoni has received some heat in recent weeks due to the team’s postseason failures and dedication to maximizing Harden’s touches. However, Rivers insists players love his analytics-centered basketball that emphasizes layups and 3-pointers.Austin Rivers responds to Coach D’Antoni criticism: “From a player’s perspective, EVERYBODY’s dream is to play for Mike.” #Rockets pic.twitter.com/wJKRPeBdjx— Alykhan Bijani (@Rockets_Insider) June 7, 2019″From a player’s perspective, everybody’s dream is to play for Mike,” Rivers said. “Because there’s no wrong shot. Mike literally lets you do whatever you want.” Austin Rivers responds to Coach D’Antoni criticism: “From a player’s perspective, EVERYBODY’s dream is to play for Mike.” #Rockets pic.twitter.com/wJKRPeBdjx— Alykhan Bijani (@Rockets_Insider) June 7, 2019″You have guys like Chris Paul and Eric Gordon, and you have other guys waiting, trying to help even more, but our system is designed around it,” Rivers said on ESPN’s First Take Friday. “It was a circle of everybody trying to figure out how do we change this, who do we talk to? It was frustrating.”But this wasn’t a knock on Harden according to Rivers. The seventh-year guard simply suggested he was following orders. Related Newslast_img read more