On the eve of their highly anticipated three-night run at the Brooklyn Bowl, our favorite funky ducks will be making their Central Park debut alongside the Eric Krasno Band and young rockers Lawrence on the SummerStage. Vulfpeck will also include performances with frequent collaborators Antwaun Stanley, who you’ll recognize from Vulf staples “Funky Duck” and “1612” and Joey Dosik from “Game Winner,” rounding out a night of excellent funky madness. Both Vulfpeck and Lawrence recently impressed fans at Bonnaroo, earning “Best Bonnaroo Debut” and “Best Club Stage Band” in L4LM’s Music Festival Awards. The crews will reunite on Wednesday, September 7th for an epic night of music that is sure to go down as a night for the books all across the board. Tickets go on sale this Thursday, June 30 at 10AM.Seeming as though their stages continue to get bigger with every performance, we can’t wait to see Vulfpeck take over Central Park! Enjoy this performance of Vulfpeck at Fool’s Paradise from this past April, featuring Antwaun Stanley and Cory Henry!
The economy could have contracted further if the country’s had gone into full quarantine to contain the COVID-19 outbreak, President Joko “Jokowi” Widodo has said.He added that the government had made the right decision in implementing only a partial lockdown.”I can’t imagine if we had imposed a full lockdown, maybe [economic growth] could have reached minus 17 [percent],” Jokowi said during a meeting with governors at the Bogor Palace in West Java on Wednesday. Topics : Read also: World Bank warns of 2% contraction in Indonesia’s economy this yearJokowi compared the country’s economy condition to that of other countries, such as the United States and France, whose economies contracted by 9.7 and 17.2 percent, respectively.”[The economy] is in the minus territory in every country; there is no growth in any country at all. However, the IMF estimated that the economy of Indonesia, China and India could still grow.”The President called the country “very lucky” for not experiencing a double-digit economic contraction, as he predicted the economy to fall 4.3 percent in the second quarter from the 2.97 growth seen in the first quarter.Indonesia has been implementing a partial lockdown, locally known as large-scale social restrictions (PSBB), only in several regions. However, most have eased or lifted their restrictions even though they continue to experience an increase in confirmed COVID-19 cases.According to the World Health Organization, the daily average of new cases increased to 1,716 last week from 1,473 new cases per day in the previous week.Jokowi further compared Indonesia to other countries, including the US and Brazil, in terms of their infection rates, which were “[higher] than Indonesia’s.”He claimed Indonesia was not among the top 10 countries with the highest number of cases, which was laudable considering that the country had one of the highest populations in the world.”It means we can still control the situation. We must not lose control.”Read also: Anies hints at ‘pulling brake’ as Jakarta cases continue to surgeJokowi cited the national COVID-19 task force, which highlighted five provinces for their achievement in containing the pandemic, namely Yogyakarta, Bangka Belitung, Aceh, West Sumatra and Gorontalo.Conversely, Yogyakarta saw its highest single-day increase of COVID-19 cases in the past week.The President asked all regional heads to work harder to manage the health crisis and find a balance between the economy and public health. He urged them to accelerate spending, especially their capital expenditure, as the third quarter of this year would determine the turning point of the country’s economic recovery.Jokowi said he would soon release a presidential instruction requiring each province to issue a regulation stipulating sanctions for health protocol violations. A recording of his speech was uploaded onto the Presidential Secretariat’s official YouTube channel on Thursday.He pointed to an International Monetary Fund (IMF) projection that said the global economy would shrink by 2.5 percent and the World Bank’s prediction of a 5 percent contraction.Meanwhile, the Organization for Economic Cooperation and Development (OECD) estimated the global economy to fall by 6 to 7.6 percent this year.
“Allow the bouquet of ESG to grow first before setting standards, otherwise we could end up with a case of ‘garbage in, garbage out’”Claudio Gligo, CIO, BonusHe added that the OeNB – which runs a €3.1bn portfolio of reserves and buffers – hoped for “further developments” pushed by demand, but it also “believes in the reinforcing effect of regulation”.Standardisation of ESG Partsch was convinced that the standard rating process and the assessment of ESG criteria would merge in the near future.“For investors, the impact is not important but the risk-return profile is,” he said.During a panel discussion at the conference, Claudio Gligo, CIO of the €2.5bn Bonus Group Vorsorgekasse and Pensionskasse, warned against too much standardisation.“Until very recently ESG was still a niche topic and not taken very seriously by many,” he said. It has since reached a different standing and as clients’ awareness of the subject was increasing, hard facts were necessary, Gligo said.However, the CIO warned that too much regulation could mean standardisation at a low quality level. “Allow the bouquet of ESG to grow first before setting standards, otherwise we could end up with a case of ‘garbage in, garbage out’,” he warned.Gligo agreed with Partsch that “any risk analysis not taking ESG factors into account is incomplete”.As the OeNB was part of a global network of national banks, Partsch was able to confirm that there were “strong developments in Asia” regarding ESG topics with Europe being “the frontrunner with its action plan”. However, there was “little interest from North America”, he added. The differences between providers were mainly concerned with how ESG was implemented within company structures, and in the ex-post assessment of ESG issues.“Many areas of sustainable investing are lacking best practice and market standards,” Partsch said. Investors are becoming more aware of the risk elements of environmental, social and governance (ESG) issues, which is increasing their significance, according to Austria’s central bank.Speaking at an industry event in Vienna last week, Franz Partsch, director of the treasury department at the Austrian National Bank (OeNB), said: “We are looking at sustainability from a risk point of view – we do not want to be exposed to ESG risks both because of return as well as reputation.”At the annual summit organised by Barbara Bertolini and aimed at institutional investors from Germany, Austria and Switzerland, the OeNB treasurer called for more standards in ESG investing.“When we tendered an equity mandate last year with an ESG benchmark we saw major differences in the technical implementation of ESG,” Partsch said.
“I’ve never been a ball-dominant guy,” Kuzma said. “I’ve always played off the ball. It is going to be a little bit easier, going to have a lot of open shots. It is my job to trust my summer workouts and what I’ve done. Just breathe, focus and knock those shots down, because I’m going to be open.”The Lakers entered last season with high hopes after signing James in free agency but finished 10th in the Western Conference with a 37-45 record. Los Angeles missed the playoffs for the sixth straight year but made significant changes to its roster during free agency. Jrue Holiday discusses Pelicans trading Anthony Davis to Lakers, drafting Zion Williamson Kyle Kuzma is confident he will be the Lakers’ third star on a roster that looks much different this season. Los Angeles made a blockbuster trade sending several young core players (Lonzo Ball, Brandon Ingram and Josh Hart) to the Pelicans for six-time All-Star Anthony Davis. There’s no doubt now that Davis and veteran LeBron James will lead the Lakers, but Kuzma believes he can step in and be the third star that L.A. will need after Kawhi Leonard signed with the Clippers. “I don’t feel no pressure, but I believe that I am capable of being that superstar,” Kuzma told ESPN. “I put a lot of work in. My progress through my journey shows that I can be there. I developed every single year, dating back to college, and I don’t see that development stunting at all.”Kuzma acknowledged he “didn’t shoot the ball well” last season, but still managed to average 18.7 points and 5.5 rebounds while shooting 45.6% from the field and 30.3% from 3-point range. Related News Klay Thompson on DeMarcus Cousins: ‘I know he’s going to be a huge asset for the Lakers’ “If I can shoot the ball well and keep developing the facets of my game defensively, I don’t see why I can’t [be that third star],” Kuzma said.Kuzma believes his style of play will match well alongside James and Davis. Lakers vs. Clippers to headline slate of Christmas Day games
The management of the Liberian Bank for Development and Investment (LBDI) has defended its policy of financing both government and privately-owned development projects across the country. The Bank’s management has maintained that it won’t shy away from providing resources to help rebuild Liberia and create jobs for its people.According to the management, development financing is the core objective of the LBDI which became a hybrid bank prior to the civil war in 1989. Addressing a crowded news conference at the Bank’s Corporate Headquarters on 9th Street yesterday, the president &CEO Mr. John B. S. Davies, III, insisted that LBDI will not renege on its fiduciary responsibility of financing road infrastructure, housing, and manufacturing projects, amongst others.The LBDI boss was reacting to media reports suggesting that the Bank is near insolvency due to the failure of borrowers, the government of Liberia, mainly, to pay their debt to the Bank. In their Monday, January 13 editions, the Concord Times and the News newspapers alleged that LBDI was on the verge of applying to the Central Bank of Liberia (CBL) for insolvency.The two papers also alleged that the CBL’s US$10 million mortgage financing scheme with LBDI was intended to rescue the Bank from collapse. The papers also published that LBDI is applying to the CBL for the bailout because most of the Bank’s borrowers, mainly the government of Liberia, have failed to repay debts owed the Bank. But Mr. Davies denied these claims and clarified that during the time of the CBL’s US$10 million mortgage initiative, LBDI’s cash balances were in excess of US$40 million. He explained that given the long- term nature of the resources required for financing mortgages and the fact that LBDI’s resources (deposits) are short term, the CBL’s intervention to provide a stimulus for mortgage lending was prudent and necessary.Touching on the Bank’s transaction with the government, Mr. Davies noted that LBDI and GOL through the CBL entered into a two-year bridge financing agreement for the placement of US$10 million for infrastructure lending to enable GOL road contractors to be bridge-financed by LBDI for the successful execution of those contracts.“This approach to infrastructure financing,” the LBDI CEO said “is not new in development financing and Liberia is no exception.”He emphasized that some of the locally generated resources will be needed to finance critical infrastructure projects in the country “and the local banking industry must play its role.” “We will continue to work with all stakeholders to ensure that infrastructure development continues unhindered, as the benefits to our country are immense,” the CEO stated.On the financial soundness of LBDI, the CEO disclosed that as of December 31, 2013, LBDI’s minimum reserve holding at the CBL was US$23.71 million and L$1.29 billion.According to him, the minimum liquidity ratio set by the CBL is 15%, but LBDI’s liquidity ratio as at December 31, 2013 was 47% and reflects a liquidity surplus of 32%.Mr. Davies also clarified that the CBL’s capital adequacy ratio (CAR) requirement is 10%; but the CAR of LBDI is 19%, meaning it is 9% in excess of the minimal capital requirement. The LBDI boss declared that LBDI’s onshore and offshore cash position as at December 31, 2013 is US$53.5 million, while the Bank’s balance sheet grew by 17% last year.“In the writers’ flawed understanding of the relationship between the LBDI and the regulator (CBL), they incorrectly suggested that the US$10 million placement done by the CBL to stimulate the home mortgage sector was meant to rescue the Bank from liquidity problems. But the writers failed to note that LBDI’s cash balances were in excess of US$40 million at the time of the initiation of the mortgage stimulus.”He described the publication as “planted adverts loaded with a barrage of misinformation intended to cause panic and create confidence crises by causing a ‘run on the Bank.’” In the meantime, the LBDI CEO disclosed that the Bank is considering commencing a legal suit against the two papers. He, however, clarified that the Bank’s management will first meet with the management of the two media institutions in order to ascertain (find out) the motives behind the publications.Mr. Davies has meanwhile assured the Bank’s shareholders, customers, investors, and the public at large that LBDI remains strong, viable, and solvent, and is compliant with the requisite financial soundness indicators governing banking in Liberia.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)