Government won’t open Bali yet: COVID-19 task force

first_imgThe government has decided not to open tourist destinations in Bali yet as the risk of COVID-19 transmission lingers.National COVID-19 task force chief Doni Monardo said on Wednesday that he had discussed the possibility of opening some tourist destinations in Bali during the transition to the “new normal” with Bali Governor Wayan Koster, and both agreed not to do it.”The result of our discussions with several regional leaders, including the Bali governor, was that we have decided not to open Bali yet,” Doni said in a hearing with House of Representatives Commission X overseeing tourism.  Doni said he wanted the local government to prepare a plan to anticipate the virus.”We want Bali to have a special protocol from other regions, especially in monitoring people [to determine] if they should be allowed to take tours in Bali,” he said.Doni suggested that the Bali administration prepare PCR machines at the airport and ports.Some cities and regencies on the island are red zones and some are orange zones. Areas categorized as red zones have a high risk of COVID-19 transmission. Orange zones have a moderate COVID-19 risk.Topics :last_img read more

GAM completes wind-up of suspended absolute return bond funds

first_img“GAM’s priority throughout the liquidation process has been to maximise liquidity and value for its clients,” the company said.David Jacob, GAM Group CEO, said: “We are very pleased that we will be making the final payment to our [absolute return bond fund] investors over the coming weeks. We would like to thank all our clients for their continued patience during the liquidation process.“We are fully focused on further stabilising the business for future growth, executing our restructuring programme and delivering value for our clients and shareholders. With our distinctive set of investment strategies and a global distribution network, we believe we are well placed to help our clients find attractive returns.”GAM began liquidating the portfolios in September 2018, and has since refunded the majority of the money held in the funds. Investors in funds domiciled in Luxembourg and Ireland had so far received refunds equivalent to 89-95% of the value of the portfolios, the manager stated, while those invested in Cayman Islands-based vehicles and Cayman or Australian feeder funds had received 80-84%.Although GAM stated at the time of the fund suspensions that it had not discovered any “material client detriment” during its investigation, the incident hurt the fund manager’s assets under management and profitability last year. In its full-year report for 2018, GAM said its assets under management had fallen from CHF84.4bn to CHF56.1bn due to the liquidation process and investor redemptions from other funds, while its profit before tax fell by 27%.Further readingOn the Record: Manager due diligence The fallout from Tim Haywood’s exit from GAM revived the discussion about due diligence. IPE spoke to Austria’s APK Pensionskasse, Sweden’s Ericsson Pensionsstiftelse, and Denmark’s Sampension about their approachFitch warns on liquidity risk in European high-yield bond funds More recently, liquidity levels in daily-dealing investment funds has come under scrutiny, with rating agency Fitch warning earlier this month that some fixed income funds appeared to be “operating with significant liquidity risk” Swiss asset manager GAM will make the final payments to investors in its absolute return bond funds by the end of July, marking the end of a 10-month process of liquidation.In a statement yesterday, GAM said it had received “all proceeds from the sale of the remaining absolute return bond investments”. It said an average of 100.5% of the value of the funds, as of 3-4 September, had been realised and was due to be returned to investors.Dealing in and out of nine funds was halted at the start of August 2018 after redemption requests spiked in the wake of the suspension of Tim Haywood, head of the absolute return bond team. An internal investigation had identified problems with Haywood’s risk management and record keeping.The funds were worth CHF7.3bn (€6.6bn) at the end of July 2018. last_img read more

Who is the toughest opponent 6-time Ballon d’Or winner Lionel Messi has ever faced?

first_img“It was all good. I had to mark him and I had to be close to him and not watch the ball. It is difficult, not just from a football perspective, but also psychologically.”Messi’s biggest rival on the pitch, Cristiano Ronaldo also revealed that Ashley Cole was his toughest ever opponent. As one of the best players ever to have played football, Barcelona star, Lionel Messi has come across some of the world’s best defenders in his career.Lots of players, when they face the Argentine, see it as a chance to make a name for themselves, so they bring their A-game.One would expect Messi to name the likes of John Terry, Sergio Ramos, Nemanja Vidic or Thiago Silva as the toughest opponents he has come across.Fans are likely to be surprised by Messi’s choice, however.According to him, Spanish right-back Pablo Maffeo presented the most difficult challenge he has ever tackled on the pitch.Maffeo was tasked to man-mark Messi in a match Barcelona and Girona, an encounter that the Argentine would never forget.“Man-marking doesn’t bother me. You know that there will be tough matches and it can be strange to always have someone around you,” Messi said. “Over the years I had some great battles with Ashley Cole, he does not give you a second to breathe,” he said. “Pablo Maffeo of Girona [was the toughest man-marker]. That was intense! I’ve never been one who complains. I think physical contact and kicks are part of the game. I get more annoyed when I play bad and I get a little angrier. But if I’m not [playing badly], it’s not a problem, it’s part of the game and I don’t take it personally.”Following that match Maffeo revealed that Messi had asked how old he was.“He [Messi] asked me a couple of things, like if I was loaned by City and how old I was,” the defender explained. “He was such a tenacious player when he was at his peak, quick, tough in the tackle. You knew it would never be an easy game.”last_img read more

Origin II sold out

first_imgThe final tickets for the match, which will see NSW chase a first series win since 2014 at ANZ Stadium tonight, were sold this afternoon.”State of Origin is a wonderful sporting contest and it has been fantastic to see our supporters get behind it again this year,” NRL CEO Todd Greenberg said.”The players are the best of the best and the entertainment they produce deserves a full stadium. It will be great to see them get it tonight.”With more than 80,000 people set to attend the match, supporters are encouraged to arrive early to take advantage of activities in the Sydney Olympic Park precinct as well as the pre-game entertainment spectacular.Fans are also reminded to allow extra time for additional security measures at entry points.The pre-match entertainment, which includes a lights-out spectacular and a performance from Aussie rockers Grinspoon, will commence at 7.30pm.With all tickets to Origin including return travel on Sydney Trains and Major Event Buses, fans are strongly encouraged to leave the car at home. Related articleUpdated Teams: NSW v Queensland – read more