Asset managers calm over risk of contagion from Greek election

first_imgEuropean asset managers have remained calm in the face of a potentially unstable Greek election result as the new party aims to renegotiate bailout terms.Yesterday, the left-of-centre and anti-austerity party Syriza won 149 seats in Greece’s 300-seat Parliament, falling just short of being able to form a majority government.Syriza, led by Alexis Tsipras, has now formed a coalition government with the Independent Greek party after it won 17 seats, with renegotiations with the Troika – the name given to the European Central Bank (ECB), International Monetary Fund (IMF) and European Commission (EC) – at the top of its agenda.The negotiations relate to restructuring the debt from Troika bailouts of the Greek government and banks, thereby allowing the government to scale back unpopular austerity measures. Greek GDP has fallen by more than 30% since the onset of the financial crisis, with equity markets falling 90% since 2007.Fidelity head of European equities, Paras Anand said Tsipras was likely to restructure the debt agreements to free the Greek economy from a “seemingly endless period of contraction.”He said much would be made of the threat to euro-zone stability from the left-leaning party’s plans, but that he expected the impact to be modest.“Syriza has repeatedly stated a desire to remain within the single currency,” he said. “The emphasis of key creditors within the euro-zone has already shifted from austerity to reform, and Syriza may find greater support from the mainstream European parties than its ‘radical’ tag would suggest.”Anand also said the risk of contagion to other euro-zone economies was limited given the uniqueness of the Greek situation and the tightening of yields across the euro-zone.Data from Bloomberg showed the yield on 10-year government bonds has risen since the election result, from 8.39% to 8.72%, but was still lower than the 10.68% seen earlier this month, a 15-month high.However, contagion risk in Spain and Italy seems limited, with yields continuing to trade much lower in the wake of the ECB’s quantitative easing announcement.Spanish 10-year government bonds are trading at 1.36%, falling from 1.53% since the ECB action, and more than half the yield from 12 months previous.Italy’s 10-year bonds paint a similar picture.“It is worth taking a step back and reflecting that the financial sector across Europe is in a significantly more robust position today than it was at the last ‘peak’ of the sovereign crisis in 2011,” Anand added.Meanwhile, Rob Burnett, investment director at Neptune’s European opportunities fund, argued that Syriza had no incentive to cause further turmoil in Greece.“Tspiras is taking power, with Greece having just registered its first quarter of GDP growth in seven years, and he is aware he has a tremendous opportunity to gather the plaudits as the economy recovers,” he said.“We expect Syriza’s negotiation with the Troika, comprising the ECB, the European Commission and the International Monetary Fund, will be difficult, but all sides are incentivised to come up with a face-saving compromise.”Viktor Nossek, research director at WisdomTree, said QE was likely to protect Spain and Italy from contagion, and preclude fiscal easing in these countries and Greece.“A compromise struck between the Troika and Greece is [also] likely to stabilise the euro as it dissipates contagion risk to Italy and Spain,” he said. “Nevertheless, a compromise should impact sentiment in Greece’s bond markets negatively.“Pressure on Greece’s bonds to fall further is likely. At risk, too, are Greek bank stocks that hold government debt of Greece.”last_img read more

New E-Government project to speed up doing business within the public sector

first_imgLocalNews New E-Government project to speed up doing business within the public sector by: – November 19, 2011 11 Views   no discussions Sharing is caring! Tweet Sharecenter_img Share Sylvester Cadette. Image via: GIS NewsTelecoms Director Sylvester Cadette says an E-Government project will provide tremendous benefits for Dominica.The Electronic Government for Regional Integration Project has been implemented by the Organization of the Eastern Caribbean States and is used within the public sector to drive efficiency within the public service.Cadette says “it will allow for significant cost reduction in terms of the day to day operations of government. In terms of back office operations and efficiencies as processes and functions are reworked. A lot of times individuals claim that governments are slow and things take too long but these systems will put government officials at a level where they can provide those services in a more efficient manner”.According to him, the individuals will be taught how to utilize the technology to assist and carry out those changes.He said the public also stands to benefit significantly from the project.“It will determine how quickly you can access government services, how quickly you can access certain health services. These are some of the key benefits. Individuals come from the country side to deal with their land issues and in the past in would take ages. With a much improve system and the implementation of the new system, it will improve those policies that have already been advanced,” he said.Dominica Vibes News Sharelast_img read more

Dacotah Speedway’s annual Drive to Survive raises $8,420

first_imgBISMARCK, N.D. – Dacotah Speedway’s fifth annual Drive to Survive is the Mandan race track’s most successful cancer fundraiser to date.“Through gate receipts, hat and T-shirt sales, event sponsorship and donations, and an intermission auction, Dacotah Speedway raised $8,420 to fund patient support services for the Bismarck Cancer Center Foundation,” said Beau Simmons, track promoter.The event was sparked in 2008 when Cody Miller, a track official, issued a challenge to local driver David Falkenstein. Miller, who had recently lost his mother-in-law to breast cancer, remarked that drivers should paint their cars pink like other athletes wear uniforms of that color to support cancer fundraisers.Falkenstein agreed and pledged to go pink in exchange for a charitable contribution. The first event raised $500. Over the past five years, the Drive to Survive has raised approximately $15,000.last_img read more

Pulev in ‘beast mode’ to shred Anthony Joshua

first_imgKubrat Pulev will provide a stern test for Anthony Joshua if he can live up to even ten per cent of what his promoter Ivaylo Gotzev is promising.The unified heavyweight champion is eyeing up a 2021 undisputed title fight with Tyson Fury. However he must first get past his mandatory challenger.Joshua vs Pulev was originally scheduled for June 20 before being postponed by the coronavirus pandemic.Eddie Hearn has now said it is likely to be put back together for November, though Pulev’s camp seemingly aren’t happy with the lack of progress.Gotzev said: “Let’s get after Eddie Hearn and the champ because enough is enough.“He hasn’t got his stuff together, we are still waiting for a new date. “I understand that the whole world has to reset somewhat, but people in the fight game are back in business.“We are hoping Eddie might take note and start making some moves – but we are still waiting for those moves.“I understand that he wrote a nice book, I can’t wait to see his brilliance in this book.“I want to learn from a brilliant guy like Eddie Hearn, meanwhile we’re just sitting here waiting for a date.”Regarding the bout itself, Gotev said: “This is going to be one punch takes it all, I hope they realise they’ve got a fight on their hands. “Because the man standing in our corner is Kubrat Pulev and he’s chomping at the bit, getting ready, getting excited and training hard.“I admired this guy, I really thought he was the second coming the way he disposed of Klitschko.“That was an epic battle. I thought we’ve got something very special here in AJ – and then, what a disappointment“Kubrat was scheduled to fight this man in 2017 and then he got a chest muscle tear that created a hematoma.RelatedPosts Tyson Fury to Anthony Joshua: Don’t risk fighting Usyk Anthony Joshua, Okolie plot world title double Anthony Joshua wants Tyson Fury, Wilder fight “They were laughing, saying he should fight. That’s a nothing injury, that’s what AJ said. AJ was laughing: ‘I would have fought with that injury.’“Well come on son, where are you now?“Kubrat is going to be in his face. Kubrat is in beast mode, he’s ready to take this man and shred him into pieces.“The knockout is coming. You’ve got to be able to take it, not only give it, can he take it? That’s the question.”—Tags: Anthony JoshuaIvaylo GotzevKubrat Pulevlast_img read more

Guyana in ‘Group A’ of CONCACAF Men’s Olympic Qualifying Championship

first_imgGUYANA will play in Group A of the CONCACAF Men’s Olympic Qualifying Championship, alongside Jamaica, St Kitts & Nevis and Dominica, when the tournament is held July 17-21. The Confederation of North, Central America and Caribbean Association Football (CONCACAF) held the draw for the 16-team (Guyana, Antigua and Barbuda, Barbados, Cayman Islands, Cuba, Dominica, Dominican Republic, Grenada, Haiti, Jamaica, Puerto Rico, St Lucia, St Kitts and Nevis, Suriname, Trinidad & Tobago and U.S. Virgin Islands) championship which will see the confederation affiliates vie for a spot in next year’s Olympic Games.After round-robin play, the group winners will advance to a final play-in match (1A v 1D and 1B v 1C). The winner in each play-in match will qualify for the CONCACAF Men’s Olympic Qualifying Championship.In Central America, qualifying will be divided in three individual home-and-away series, with the three series-winners advancing to the CONCACAF Men’s Olympic Qualifying Championship.The matchups – 1 v 6, 2 v 5 and 3 v 4 – will be determined via FIFA World Ranking of March 31, 2019. The matches will take place during the first three weeks of July.The six participating teams in Central America are (in order of ranking): Costa Rica, Honduras, El Salvador, Panama, Nicaragua and Guatemala.The format, host country and dates for the CONCACAF Men’s Olympic Qualifiers will be announced at a later date. Mexico, Canada and the United States are set to participate as the North American representatives.last_img read more

Tickets for Poland vs Nigeria Friendly Sold out

first_img*Ekong, Aina, Ebuehi, Iwobi, Balogun, Idowu are the early birds in campDuro Ikhazuagbe with agency reportWhen Super Eagles turn out at the 42,000 capacity Stadium Wroclaw on Friday to engage Poland in their first tune-up match en-route the World Cup in Russia in less than three months from today, Gernot Rohr and his wards will meet more than they bargained for. The Bialo-Czerwoni (White and Red), as the Polish senior football team is called, will take on the three-time African champions in front of a full house.As at press time last night, only six Super Eagles have arrived the team’s camp in Wroclaw from their respective clubs in Europe. The early birds include; Williams Troost Ekong, Ola Aina, Tyrone Ebuehi, Alex Iwobi, Leon Balogun and Brian Idowu. Others were been expected in late last night with the rest arriving today for training to begin.Top Polish journalist, Piotr Kozminski, hinted SCORENigeria that all the available 42,000 tickets have been picked by Polish football fans who want to gauge their team against an African opposition.“The 42,000 tickets for this game have been sold out, the company responsible for this has announced,” Kozminski revealed yesterday.He hinted that expectations were high in the country for the Bialo-Czerwoni to do well in Russia this coming summer.The clash against Nigeria is to give them an idea of what to expect when they take on robust-playing Senegal in their opening game of Group H.“There is high expectation around the team leading to the World Cup in Russia and it will be a major disappointment if they do not go past a first round group that also has Colombia, Senegal and Japan.“The Polish FA boss, Zbigniew Boniek, a famous player in his playing days, said he expects Poland not to lose their opening game against Senegal and for Colombia and Poland go through,” stressed the top Polish sports journalistAnd four days later, they will take on another World Cup qualifier South Korea so as to prepare for their group game against Japan.Interestingly, while there is frenzy in Wroclaw over the clash, Nigerian midfielder, Ogenyi Onazi who is expected to arrive Eagles’ Radisson Blu Hotel camp today, insisted that there was nothing friendly about the match.“Yes it’s a friendly match, but we don’t see it as friendly, every game is important for us as we start our World Cup build-up,” Onazi observed yesterday.The Trabzonspor of Turkey midfielder who scored a spectacular goal on Sunday for his club in the 4–1 win over Yeni Malatyaspor, is to have a delayed transit in Germany before connecting straight to the Polish city for the Friday night friendly.“I will arrive on Tuesday because I have a very long transit from Frankfurt to Poland,” concludes the Jos-born Onazi.Four days after the game in Wroclaw, Eagles are to take on Serbia in another friendly against Russia 2018-bound team at The Hive in London (home ground of Barnet FC and London Bees).Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Fisher, Dixon share role in replacing suspended Norton

first_imgWith kicker Ryan Norton suspended for Syracuse’s game against Wake Forest on Saturday, punters Riley Dixon and Jonathan Fisher will share a role in the kicking game.“Riley will do the kickoffs and then both of them will have opportunities in the field goal category,” Shafer said. “They’ve both done a good job this week with that.”Norton was arrested on Friday for resisting arrest and underage possession of alcohol. He was suspended by the Orange “due to a violation of team rules,” Shafer said in a statement Wednesday.Norton began the season as Syracuse’s kickoff specialist and took over full-time kicking duties when Ross Krautman suffered a season-ending, hip-related injury against Northwestern. Norton has made 4-of-6 field goals this year with a long of just 34 yards.“Ryan will be out this week,” Shafer said during the press conference. “He’ll be back next week.”AdvertisementThis is placeholder textIn Norton’s absence, Fisher will make his return to the Orange’s kicking game. He began the season as SU’s starting punter, but Dixon replaced him after Syracuse’s loss to the Wildcats. Dixon is listed as both a kicker and punter on the Orange’s roster.Shafer admitted Thursday that he is “concerned,” but he also expressed confidence in, and excitement about, the two specialists who will be filling the role.Said Shafer: “(It’s) also a good opportunity for the other two kids to get a chance to kick some field goals, extra points — hopefully a lot of them.” Comments Published on October 31, 2013 at 11:21 am Contact David: | @DBWilson2 Facebook Twitter Google+last_img read more

Syracuse basketball’s frontcourt handles foul trouble in rout over Wake Forest

first_img Facebook Twitter Google+ Published on January 16, 2016 at 3:58 pm Contact Sam: | @SamBlum3 WINSTON-SALEM, N.C. — Tyler Lydon put his hands on his hips then moved them to interlock on the back of his head. A reach-in foul on a driving Mitchell Wilbekin put Lydon, and Syracuse, in as much trouble they could be in with a 23-point lead.It was Lydon’s fourth foul. That matched with the four fouls on starting center Dajuan Coleman. Forwards Malachi Richardson and Tyler Roberson each had three, which gave the Orange few big-man options with 13 minutes and 59 seconds left to play.“It’s the first time this year where we’ve had so many guys in foul trouble,” SU head coach Jim Boeheim said. “We haven’t had that.”So when that trouble caught up to SU, and when Lydon was forced out of the game, it was Chinonso Obokoh who ran to the scorer’s table to check in. Obokoh had logged just 12 Atlantic Coast Conference minutes to date, but helped secure a game in which the SU big men had a dominant performance shortened due to foul trouble. Lydon and Coleman were limited to 33 effective combined minutes, and Obokoh played 13 of his own in Syracuse’s (12-7, 2-4 ACC) 83-55 blowout win over Wake Forest (10-7, 1-4) on Saturday afternoon.MORE COVERAGE AdvertisementThis is placeholder textTrevor Cooney’s 25 points lead Syracuse in 83-55 romp of Wake ForestJim Boeheim on win over Wake Forest: ‘We had by the far the best defense we’ve played this year’What we learned from Syracuse basketball’s 83-55 win against Wake Forest Roberson had 16 points and 13 rebounds. Lydon found his stroke to the tune of 11 points and Coleman said he’s beginning to feel like his old self after going 3-for-3 from the field. Boeheim said everyone played well, including Obokoh, who helped ensure their strong performance didn’t go to waste.“That’s just the way the game goes sometimes,” Lydon said. “Calls weren’t going our way for a little bit there, but we just fought through it. It’s something we’ve got to be better at … just getting out of foul trouble.”Coleman scored Syracuse’s first two points from a player other than Trevor Cooney with a power dribble under the baseline that preluded a ferocious dunk. Less than four minutes later, he finished on an and-one at the rim. He showed a developing offensive capability, but couldn’t match his 26.5 minutes per game average that he’s posted since Boeheim returned from suspension.Lydon said he felt better shooting in Saturday’s game than he has in the weeks prior. In the first half he knocked down two 3s on the wing and finished a dunk when he was playing at center. But foul trouble prevented a good night from being a much bigger one.And when SU’s primary two center options were forced to sit, Obokoh played well defensively. He drew a charge — he said his first blocking foul should have been a charge too — and collected three rebounds, a block and a steal.“Chino did a good enough job that we didn’t have to go back with Dajuan and Tyler until right at the end there,” Boeheim said. “So that was good experience for Chino. I was glad to see him do what he did. His stat sheet won’t show it, but he was good on defense and I just thought he did a nice job out there.”On the day, Syracuse out-rebounded Wake Forest 43-35 and outscored the Demon Deacons 32-20 in the paint. The Orange out-fouled WFU 27-19, which led to 17 more free throws for Wake Forest. The Orange usually out-rebounds its opponents and takes more free throws. The numbers on Saturday were counterintuitive to the types of games that Syracuse has played this season.And most of them were a reflection of the play from their go-to big men, the ones that have been there all year. It forced Syracuse to use someone else to help finish what it started. Obokoh, by the time he was called upon, was the only option.“I always keep my mind straight,” Obokoh said. “Whenever my name is called, I just go and play the game. I helped my team to win.” Comments Related Stories Trevor Cooney’s 25 points lead Syracuse in 83-55 romp of Wake ForestFast reaction: Syracuse basketball blows out Wake Forest in 28-point winSyracuse community reacts to win over Wake ForestGrade Syracuse’s performance against Wake Forest and vote for the player of the gamelast_img read more

Dino Babers on Eric Dungey: ‘We’ll see about next week’

first_imgMoments after Eric Dungey was announced as a starter on the Carrier Dome videoboard, Zack Mahoney jogged out with the SU offense for the first series of the game.Dungey, who was listed as questionable for Saturday’s game, did not play Saturday afternoon after sustaining an unspecified right leg/foot injury last week. The junior quarterback has yet to take a snap in a game past Week 9 over his three-year career.After the game, Orange head coach Dino Babers said sitting Dungey was a game-time decision.“Didn’t know until right before game time,” Babers said following Syracuse’s (4-6, 2-4 Atlantic Coast) 64-43 loss to Wake Forest (6-4, 3-3). “We all want him to play, but he’s somebody else’s son. You want to make sure he can defend himself out there. Just didn’t feel like he was able to totally defend himself, so we’ll see about next week.”Dungey missed three offensive series last week in SU’s 27-24 loss at Florida State. He threw for 278 yards and two touchdowns, but sat out for parts of the first half. He returned and finished the game 24-for-43, two weeks after he was a season-worst 13-for-41 with four interceptions at No. 7 Miami.AdvertisementThis is placeholder textDungey wore a boot on his right foot after the loss to FSU. He walked into the Carrier Dome on Saturday with a boot. On Monday, Babers said Dungey would “be ready to go.”“He’s not going to be able to do all of the reps,” Babers said Monday, “but he’s got a lot of game experience. We’ll just practice the other guys.”But he stood on the sidelines against the Demon Deacons, in uniform and full pads. He looked on as backup QB Zack Mahoney ran the offense, going 33-for-60 with three touchdowns, all in the first half, and two interceptions. He threw for 384 yards and ran for 38 more. Mahoney said he discovered he would start about 14 minutes prior to kickoff.As for Dungey’s future status, Babers said Saturday night: “Same thing. We need to keep getting treatment and keep watching him and seeing if he’s able to go or not.” Comments Facebook Twitter Google+ Published on November 11, 2017 at 8:37 pm Contact Matthew: | @MatthewGut21last_img read more

Three Tipp men in Munster side for trip to Italy

first_imgHe’ll be joined in the second row by Clonmel’s Dave Foley.Tommy O’Donnell from Cahir is retained in the back row alongside Billy Holland and captain CJ Stander.The match day 23 chosen by coach Anthony Foley for the trip to Italy also includes James Cronin, who has recovered from an ankle ligament injury sustained against Leinster last month.last_img