The Finnish Cultural Foundation (FCF), which makes grants to groups and individuals working in the arts and sciences, returned 10.5% on its investments over calendar 2014.At end-2014, equities made up 62% of its €1.3bn portfolio, with 17% in fixed income, 15% in real estate and 6% in alternatives, primarily private equity.Equities made a 13.6% return, slightly more than the 13% from the benchmark.Equities are split equally between Finnish and global stocks. However, a large part of the performance was due to the FCF’s legacy holding in Finnish packaging manufacturer Huhtamäki, which has annual sales of more than €2.2bn.The holding, given to the FCF by the company’s founder in 1943, makes up 25% of FCF’s total portfolio, and 12% of Huhtamäki’s own share capital.Over 2014, the shares surged in value by around 40%.Ralf Sunell, CIO at FCF, said: “The company is a strong defensive stock with globally diversified sales – only 1% of revenues come from Finland. And management has done a good job in streamlining operations.”FCF has reduced the Huhtamäki holding from 17% to 12% of the company’s share capital over the past two years as part of its portfolio risk management but has still not reinvested the cash.Sunell said: “The market environment is very challenging, and it is very difficult to price assets.”As a whole, he said, FCF’s domestic portfolio did well because of good stock selection.However, the global equity portfolio underperformed because of its underweight position in the US.Sunell said: “Our managers considered euro-zone equities to be cheaper than US stocks, and this has hurt us a bit. But we are not benchmark investors. Our managers have very concentrated portfolios of 30-50 stocks.”Unlike pension funds with fixed liabilities, FCF can alter the level of grants it makes.It tries to spend 3-4% of net asset value, which leads to a long-term target income of 3-4% plus inflation – effectively 5-6%.“We can’t achieve that target over the long term without equities,” said Sunell.“But we are a true long-term investor, so volatility is not a risk measure for us, more a default.“It also means that when markets slump we try to have the firepower to step in – that’s where long-term returns are made.”And over the short term, he said the euro may continue to weaken but that the global economy could pick up, benefiting local companies.In its fixed income portfolio, FCF has for a couple of years not held government bonds, apart from some paper issued in emerging markets.Sunell said: “Govies are a bubble market and very expensive. We have been hunting coupons in corporate bonds and especially so on the high-yield side.“We have been investing in bonds with short durations. Coupons give us a decent cash flow.”Corporate bonds are mostly Nordic issues, with some from emerging markets.High yield comes from Europe and the US.Sunell said it was a conscious decision not to invest in long-duration government bond markets, and also to run a large cash position, and that has hit performance.He added: “Bonds, especially government bonds, are a very risky asset class when interest rates start to rise.” Meanwhile, FCF’s 2014 return on real estate was 7.1%, mostly from residential holdings, with the funds it invests in buying at good prices and growing value, said Sunell.The portfolio also includes offices, mainly in Helsinki, which are held directly.The foundation enjoys certain tax advantages in holding real estate directly in Finland – rental income is tax-free, for example.
Hundreds of Olimpia fans welcomed their club’s new signing former Real Madrid and Manchester City forward Emmanuel Adebayor as he arrived in Paraguay on Friday at the international airport in Asuncion.Advertisement Fans chanted “Manolito, Manolito” like Real supporters did when the 35-year-old Togo international played in Madrid. Adebayor, who also played for Arsenal, Tottenham and Crystal Palace during a decade-long stay in the English Premier League, held up a banner in Olimpia’s colors saying “I’m already here,” as fans chanted “this is your public”.“I’m part of the Olimpia family now. I have to follow their dream, I have to follow their target, which is to win” the league and Copa Libertadores, Adebayor said in a video message to fans.Togo forward Emmanuel Adebayor holds up a message to his new fans at Paraguay champions Olimpia on his arrival in AsuncionAdebayor will be available for Olimpia’s 2020 Copa Libertadores campaign in which they face Brazilians Santos, Defensa y Justicia of Argentina and Ecuador’s Delfin in Group G.Olimpia are three-time former winners of the Libertadores and have won the last four Paraguayan titles in a row.Adebayor is linking up at Olimpia with former City team-mate Roque Santa Cruz, 38, who was top scorer in the Paraguayan league last year. Read Also: Paraguay’s Olimpia announce signing of Adebayor“Adebayor hasn’t come here on holiday,” said Olimpia president Marcos Trovato.Olimpia treasurer Miguel Brunote said the Togo forward was commanding the biggest ever salary in Paraguayan football.Brunote said Olimpia beat off competition from Argentine giants Buenos Aires to sign Adebayor, who had been a free agent since December when he left Turks Kayserispor.FacebookTwitterWhatsAppEmail分享 Loading… Promoted ContentPlaying Games For Hours Can Do This To Your BodyThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreA Hurricane Can Be As Powerful As 10 Atomic Bombs6 Great Ancient Mysteries That Make China Worth Visiting7 Universities Where Getting An Education Costs A Hefty PennyTop 10 Most Romantic Nations In The WorldThe 10 Best Secondary Education Systems In The World20 Completely Unexpected Facts About ‘The Big Bang Theory’A Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This DayGo Stargazing & Discover The Night Sky At These Cool LocationsLook At Something Beautiful That Wasn’t Made By A Human BeingWho Earns More Than Ronaldo?
“Additionally,PECO will vigorously pursue all legal remedies to set aside the order,” itadded. ILOILO City– Unprecedented, highly irregular and shocking. She wasreferring to the order issued by Judge Antonio Gerardo Amular of the RegionalTrial Court (RTC), Branch 35. Regardingthe power distribution, Divina Law said PECO will “responsibly continue toprovide service to the city” while “this legal issue is being resolved.” “If thereis standing suspension of proceedings, no order or action can be taken on thecase unless and until the suspension is lifted,” said Elamparo. Elamparoconfirmed that PECO asked the Court of Appeals to stop the takeover. MORE cannot“jump the gun” and preempt the ruling on PECO’s application for TRO, it added. Ininstances when the sheriff is unable to get the acquiescence or possession ofthe properties and he will have to use force, there has to be break-open orderissued by the court for him to have the authority to break-open, Elamparoexplained. It failed to secure an extension or a new one from Congress whichcited the many complaints from consumers over, among others, erroneous billing,poor customer service and high rates. Elamparoalso lamented that PECO as party in the expropriation case was “kept in thedark” about the issuance of a Writ of Possession by RTC Branch 23. Atty.Estrella Elamparo of the law firm Divina Law cited the pending Supreme Courtcase on the constitutionality of MORE Power’s franchise and the standing orderon the suspension of the expropriation proceedings against PECO issued by aprevious judge hearing it. PECO had been Iloilo City’s monopoly power distributor for over 95years. Its franchise expired on Jan. 19, 2019. PECO alsofiled with the Court of Appeals a Petition for Certiorari asking it to reviewthe RTC Branch 23 order reiterating the issuance of a Writ of Possession. Panay Electric Co. administrative manager Marcelo Cacho (left) refuses to receive from court sheriffs the Writ of Possession issued by the court. IAN PAUL CORDERO/PN As toyesterday’s takeover by MORE Power, Elamparo said, “The sheriff does not havethe authority to insist or to force his way into the PECO property because hedoes not have a break-open order.” “We’ve beenfollowing that up since Thursday with the clerk of court. It was only thismorning (Friday) that the clerk admitted to us she was given specificinstruction not to divulge any information regarding the writ to PECO. That isvery irregular. We are a party in the case so we are entitled to know,” she said “Contraryto what’s being circulated via publicity by MORE Power, it will be highlyirregular at this point to insist on the takeover pending resolution of themotion for clarification that PECO has filed with the RTC (Branch 23) of Iloiloto define the parameters of the implementation and, more importantly, in viewof the Petition for Certiorari with prayer for TRO that has been filed with theCourt of Appeals,” the law firm said. In astatement, Manila-based Divina Law said the power firm applied for TemporaryRestraining Order (TRO) and/or a Writ of Preliminary Injunction “to restrainthe implementation of the Order and/or any writ that may be issued by the RTC.” This washow the legal counsel of Panay Electric Co. (PECO) described MORE Electric andPower Corp.’s (MORE Power) takeover of its client’s power distribution facilitiesyesterday. On Feb. 14, 2019 President RodrigoDuterte signed into law MORE Power’s franchise, Republic Act (RA) 11212. Hereyesterday, Atty. Elamparo also said PECO filed a motion to suspend proceedingon the basis of the Petition for Certiorari, and a Urgent Motion for theInhibition of RTC Branch 23’s Judge EmeraldRequina-Contreras “given themanifest bias and impartiality in favor of MORE Power shown by her act ofissuing the order reiterating the grant of a Writ of Possession when there is astanding suspension of proceeding previously issued by Judge Antonio GerardoAmular which has not been lifted.” In March 2019 MORE Power asked RTC Iloilo City Branch 37 to issuea writ of possession authorizing it to take immediate control, operation, use,and disposition of PECO’s power distribution system assets./PN
DepEd-Antique Schools Division SuperintendentFelisa Beriong said on April 23 that the request of the mayors from the townsof Hamtic, Tibiao, Sibalom, Libertad, and here have been given the go signal bythe regional office. Some schools in San Jose, Antique will be used as coronavirus disease 2019 quarantine centers as approved by the Department of Education. This province will be under moderate community quarantine starting May 1. PIO ANTIQUE SAN JOSE, Antique – The Department ofEducation has approved the use of schools in the five municipalities in thisprovince as quarantine centers for coronavirus disease 2019. “The local government units (LGUs) willhave to sign a document agreeing on the terms and conditions set by DepEd suchas the management of the facility, the cleanliness of the place and theelectricity bills,” Beriong said. The LGUs will also provide security andfood for its constituents under quarantine.Beriong added that the other 13 municipalitiesin this province also requested for the use of their schools as quarantine centers.Antique has 18 towns. The letter of request should be accompanied with a certification from theMunicipal Health Office that the school willing to be used as an isolationcenter has the necessary water system and toilet for those who will beundergoing quarantine there. Gov. Rhodora Cadiao, for herpart instructed the mayors of this province onApril 22 to identify their schools that will serve as quarantine centers. Antique is expecting the arrival of their constituents once the moderatecommunity quarantine is implemented beginning May 1.Homebound Antiqueños will be transported directly to approved facilities for amandatory 14-day quarantine.(With areport from PNA/PN)
EC AquaTrojans picked up two wins on Thursday night as they hosted the Tigers from Lawrenceburg and the Twisters from OA.EC Girls 171 (3-0, 2-0 EIAC), LBurg 90, OA 34.EC Boys 159 (3-0, 2-0 EIAC), LBurg 117, OA 5.Individual winners include Felicity Wray-200 Free, 100 Free; Mackenzie Schantz-200 IM, 100 Fly; Olivia Nixon-50 Free; Nick Weber-50 Free; Aly Bailey-1 meter diving; Jackson Ketcham-100 Fly; Jordan Marro-500 Freestyle; Owen Matthew-500 Freestyle; Ray Krider-100 Backstroke; Kyra Hall-100 Breaststroke; Klay Shipman-100 Breaststroke.EC won all 6 relays.EC will host the Knights from South Dearborn on Tuesday. Come out and support the AquaTrojans!!!Courtesy of AquaTrojans Coach Brandon Loveless.
Indianapolis, IN – Everyone likes a story with a happy ending this time of year. How about this: Tuesday afternoon, a coordinated team effort led to the rescue of a dog who escaped from a crashed vehicle on the city’s west side. 911 dispatchers received a call about a vehicle that ran off I-465 and rolled several times. As troopers were responding to the scene they began receiving information about a dog that had jumped out of the crashed vehicle and was running along the shoulder of the interstate.The first troopers on the scene, along with paramedics, assisted the driver, who suffered minor injuries. Meanwhile, Trooper Brandon Alberts and Trooper Mike Wright began tracking down the dog. State Police Dispatchers along with Dispatchers from INDOT were able to utilize traffic cameras and relay information to troopers about the dog’s location. Trooper Alberts caught up to the dog nearly two miles from the crash scene, he and Trooper Wright blocked a lane of traffic and were able to safely get the dog into a police car. Investigating officers are not sure what caused the vehicle to run off the road. The driver was transported by ambulance to the hospital with non-life threatening injuries. After spending time with Trooper Alberts for a little while, the dog named Poppy, was released to a family member who came to the scene. Poppy did not appear to be injured.
BRILLIANT BABAR POSTS UNBEATEN HUNDRED“If they can massage him and help him through a little bit, keep him away from the new ball a little bit here in Australia, then I think they’ll get the best out of him.”Babar dazzled against the pink ball in Perth as he posted just the fourth first-class century of his career, with his drives through the covers and down the ground catching the eye.Having been in Australia since late October for the recent T20 series against Aussies, Babar said he’s confident he can adjust local conditions in time for the first Test.Babar’s impressive knock was halted by a brilliant run-out“There is just a bit more bounce and pace here so it requires a wee bit of adjustment,” he said.“But the more you practise and play here, the more you get used to it.“My goal always is to perform in every single match. The way my form is right now, I want to continue that and carry it into Test matches.” (Cricket.au) OF all the international superstars who will be on display this Australian summer, there’s one man that Test legend Ricky Ponting is looking forward to seeing the most – Pakistan ace Babar Azam.Babar looms as one of the major batting threats in the Pakistan side for the Domain Test Series against the Aussies, starting tomorrow, despite averaging just 35.28 in his 21-Test career.The 25-year-old, the world’s third-ranked ODI batsman and No.1 in T20 cricket, blazed an eye-catching 157 against a strong Australia A bowling attack in Perth last week and Ponting believes it’s only a matter of time before the right-hander improves on his underwhelming Test record.“We haven’t seen the best of him yet,” Ponting told cricket.com.au.“Twenty-odd Tests for an average of 35 – he’s better than that. He averages 54 in one-day cricket at a strike-rate of about 90.“He’s a very, very classy player.“He’s a really exciting talent and probably the guy I’m looking forward to seeing the most this summer. I’ve seen the Aussies a lot and I’ve seen a lot of the Kiwis, but I’m really excited to see him. He could be anything.”Ponting hasn’t seen much of Babar in the flesh just yet, but he did get a first-hand account of his destructive talents during this year’s World Cup.The three-time Cup winner was an assistant coach for Australia’s campaign and during their group match against Pakistan in Taunton, he watched on in amazement as Babar slammed seven fours in just 28 balls against a potent pace attack before being caught on the boundary.“He looked like he was playing a different game,” Ponting remembers.“As soon as we over-pitched, he banged it through the covers or banged it down the ground. And when we dropped short, he got onto that pretty quickly as well.”Babar was just 22 and three matches into his Test career when he toured Australia three years ago and failed to pass 25 in six innings batting in the crucial No.3 position, with Josh Hazlewood dismissing him four times.Josh Hazlewood had the better of Babar Azam three years ago – what will happen this summer?He has since shifted down to No.6 and his unbeaten century in Perth last week, which featured 24 boundaries, came at No.5 in the order.Ponting believes keeping Babar away from the new ball as much as possible in Test cricket will help unlock his undeniable talent.“What they’ve tried with him before obviously hasn’t worked (because) when you watch him bat, he’s better than a 35 average,” he said.
“Bias is nothing more than recognition or relating to patterns that are familiar to you,” Govahi said. “Our job with this exercise is [to] put you in touch with the patterns that you are familiar with. Then you’re the judge of what aspect or component of your perception and future behavior you’re going to change.” “The scenario is going to reject every single [candidate], just to show you someone else’s biases,” Govahi said. “Simulating an experience comes down to really hijacking all of the senses to really create a sense of presence in the brain,” McCarty said. “This sense of presence is where memories can be formed, experiences can be had and emotions can be provoked . . . We were going fully into the deep end.” “If I sit you down and say, ‘Let’s talk about your unconscious bias,’ it’s already in the conscious level, so it’s a waste of time,” Govahi said. “So I have to come up with a back door … it seemed natural to look at virtual reality as a way to explore unconscious bias.” Govahi said the VR experience is not meant to test users for a right or wrong answer. Suleman said the experience has been designed to invite open conversation without making students defensive about the implicit biases they may have. In every scenario, the candidate the student selects ultimately will not be picked for the job. In the final portion of the exercise, students sit in the selected candidate’s car while he or she is rejected over the phone. “When things like this happen to you, you don’t necessarily want to have a discussion about it,” Suleman said. “But when you are invested with someone and watch it happen, you have the ability to talk about why you think it’s wrong.” After students select the candidate they believe is best for the job, two “higher-ups” take on the task of further evaluating the selected candidate. The student will observe the conversation, which will be tailored to include biased comments — for example, criticizing an applicant’s tattoos. As part of USC’s 2019 Diversity, Equity and Inclusion week, Marshall hosted an event Wednesday called “Exploring Unconscious Bias — A Virtual Reality Exercise.” Presented by Team Building | VR, a VR training and development program, the event detailed a new bias training program that Marshall hopes to pilot this summer in its Experiential Learning Center. McCarty and Suleman spoke of other ways virtual reality is used in order to create social change. The United Nations’ Virtual Reality program, use immersive storytelling to encourage empathy and positive social change. Unconscious bias in the hiring process is alive and well, a recent study published in the Proceedings of the National Academy of Sciences found. The report showed that since 1990, white job applicants receive 36 percent more callbacks than black applicants and 24 percent more than Latinx applicants. The Marshall School of Business is hoping to change that — with the help of virtual reality. Miles Suleman, chief operating officer of Team Building | VR, said one of the goals of the VR experience is to evoke emotion from users. Assistant Marshall Dean Gita Govahi said VR is essential in educating people about their unconscious biases because it makes the subject less “threatening.” The program that the company is currently developing with the center puts users in a scenario in which they are responsible for choosing the best candidate for a job. The exercise will begin with students reading and ranking five applications. Then, students put on the VR headset to complete a 20-minute hiring process, including video interviews with the candidates, who will be played by actors. The presenters said retention levels can be as high as 80 percent one year after a VR experience. Rob McCarty, CEO of Team Building | VR, said the technology is ideal for education and training because it allows users to fail and try again without real-life repercussions. “Having the emotional connection to why [unconscious bias] is wrong and having that near first-hand experience is a very good tool for driving behavior,” Suleman said. “What we wanted to do is create a narrative that created [emotional] investment for the student in the exercise.” USC alumni Miles Suleman (left) and Rob McCarty (right) work for Team Building | VR, a company that uses virtual reality to train and educate employees and students. (Julia Rosher/Daily Trojan)
Accra Open Golf tournament successfully brought together golfers in an effort toward making the relatively unknown sport popular in the country.Vice-Captain of Achimota Golf Club Mr Mark Cofie summed up the tournament as ‘’spectacular’’.According to Mr Cofie, the club could not have achieved the feat without massive support, by way of sponsorship from companies like Tullow Oil Ghana, Emirates, Vanguard Assurance, Equity Insurance, Mercedes Benz (Silver Star Gh. Ltd.) Appah Electricals (Ben Appah), Fairgreen Computers Limited, Blue Cloud Internet Services, Garmin Gadgets, Prime Shades Décor and Portions Bar and Restaurants.Golfers however failed to seize the Hole-in-one opportunity; the provision of a sleek brand new Mercedes Benz by Silver Star Ghana on Hole 18. Notwithstanding that, they recorded impressive scores befitting the much publicized tourney.“As you can see, it has been a keenly-contested competition and the massive crowd here, magnificent trophies tells how successful the event was.“It was spectacular on every level and new standards in golfing were set in Ghana. It showed that the possibilities are truly endless.“Our long standing and healthy relationship with Silver Star Ghana saw the provision of the brand new Mercedes Benz as Prize for Hole-In-One, support make the game more exciting, and I commend them for that,” said Mr Cofie.Club president Nana Atta Nyamekye commended George Y. Amoah (Competition Secretary) and his team for delivering a spectacular tournament as well as golfers who travelled from far and near to make the event an epoch making one. Sampson Asogba recorded a 293 gross score over four days to emerge the winner in the men’s main event, beating Yao Dogbe and Royal Golf Club’s Kwabena Poku who grossed 302 and 304 in second and third place respectively.Young Jessica Tei defended her title after recording a 151 gross over two days to reign in the ladies main event, while Royal Golf Club duo of Felicity Gyeabuor and Mary Prempeh followed in that order.It was Lawson Attiogbe, who won the men’s Group A category, while Georgina Lupiac finished first in the ladies event.Justice Emile Short with 41 net score dominated the men’s Nine Hole event, with Helen Appah picking the ladies event also recording a 41 net.Kofi Ahounu emerged tops with 68 net in the competition which saw the main event(Men and women) winners picking return air tickets to Dubai courtesy Emirates besides their trophies.
WASHINGTON >> The Dodgers were there when Daniel Murphy became an action hero last October.They were here Saturday and Monday when Murphy came to the plate eight times, got on base six times, had four hits and drove in two runs.It’s not personal. It’s purely professional. Murphy has dropkicked everybody, not just the Dodgers.He did the same thing to the Cubs, except more comprehensively, in last year’s National League Championship Series. And then he didn’t stop. He led the league in doubles, slugging percentage and OPS this season. When he comes to the plate, the people in Nationals Park chant “M-V-P.” Newsroom GuidelinesNews TipsContact UsReport an Error “In the first inning Corey Seager hit a foul ball into that wind and it knocked it down like a pitching wedge,” Murphy said. “So I thought somebody would have to do something special to get one through that wind. Jose did. He hammered that ball.”The victim was Rich Hill, whose curveball was diving viciously in the wind but stayed up nicely for Lobaton. Hill isn’t prepared to pitch with three days’ rest, which means he couldn’t come back for Game 5, which means Clayton Kershaw would pitch that game and not Game 4, in all probability.That is the main consequence of MLB’s inexplicable decision to postpone Game 2 Saturday, just as the rain would stop and never return. There’s an incredible amount of disruption, intrusion and just plain malarkey in the postseason, yet Murphy has managed to tunnel his vision into the game itself. Washington gave him a three-year, $37.5 million deal, strengthening themselves and weakening the Mets simultaneously.“On both sides in the postseason, you can see the senses are so heightened,” Murphy said. “Guys take pitches you’re not used to seeing them take. You get to the end of it, you’re absolutely exhausted.“Facing Clayton and Rich, it’s a poor start for me. I don’t know if they’ve got a righthander over there. I haven’t seen one yet.”That also is playoff baseball, the insatiable urge to find an edge (and, for managers, to protect themselves from second-guessing). The Nationals bullpen got 14 outs and gave up only one hit, as Dusty Baker used all three left-handers.One was Marc Rzepczynski, the Servite grad who was plopped into hot water in the fifth. With two on, he intentionally walked pinch-hitter Yasiel Puig with one out. Then Rzepczynski fanned Yasmani Grandal, fell behind 3-and-0 to Howie Kendrick, and watched Kendrick hit a liner into that wind that was caught by the onrushing Jayson Werth, who gave one of the more vigorous fifth-inning fist pumps yet seen. He knew how tough that play was, and so did Rzepcynski.“The wind kept it down and Jayson came and saved my butt,” said Rzepczynski, who won a World Series ring in Tony La Russa’s lefty-heavy bullpen in St. Louis five years ago. “This is a very similar bullpen. Guys can get one out or five outs, and we feed on each other.”On the other end, Baker said he tells his guys to “hit low fastballs and hit high breaking balls. Except most of us swing at high fastballs and low breaking balls. That’s why we don’t hit.”He was only speaking for the humans. “Outside of Daniel Murphy, who is not human, everybody was struggling to see the ball,” said the Dodgers’ Josh Reddick, as the shadows accumulated during Washington’s 5-2 victory in Game 2 of the NLDS.Murphy didn’t need X-ray vision to get an RBI single in the seventh. He did the same thing in the fifth, and also singled in the second inning after Rich Hill had struck out the side in the first.He is 11 for 27 in seven Division Series games against the Dodgers. Last year he had three homers in the Mets’ five-game win. In Game 5 he memorably trotted to second base on a walk and then sprinted to third when he saw the Dodgers had no one covering. Then he scored the series-clinching run.There is always a playoff ghost for the Dodgers, like Philadelphia’s Matt Stairs or the Cardinals’ Matt Carpenter. You don’t need a long, unobstructed roll to conquer a playoff series. But Murphy was on second base for the biggest hit. It was a three-run homer from Jose Lobaton in the fourth inning that put Washington ahead 3-2 for its first lead of the series. It also pierced a persistent wind that came from the direction of the Capitol (insert punch line here) and through the flagpoles in left field. Lobaton had three home runs in 114 games this year and was only playing because regular catcher Wilson Ramos tore his ACL.