National COVID-19 task force chief Doni Monardo volunteers for COVID-19 vaccine trial

first_imgNational COVID-19 task force chief Doni Monardo has signed up to become a volunteer for the COVID-19 vaccine clinical trials, task force spokesperson Wiku Adisasmito announced on Thursday.“We would like to announce that the National COVID-19 task force chief Doni Monardo has registered for the clinical trials of the potential COVID-19 vaccine,” Wiku said during a press conference on Thursday. “This is part of the government’s commitment to provide the maximum protection for citizens against the danger of COVID-19.”Wiku said that the government was optimistic about the vaccine development in the country, referring to the phase III clinical trials of a potential COVID-19 vaccine developed by Chinese biopharmaceutical company Sinovac Biotech in partnership with state-owned pharmaceutical PT Bio Farma. Topics : The trials started on Monday in Bandung, West Java, with 120 out of 1,620 volunteers scheduled to receive injections by the end of the week.West Java Governor Ridwan Kamil has also announced that he will volunteer in the vaccine’s clinical trials.Ridwan said that the West Java Police chief Insp. Gen. Rudy Sufahriadi and Siliwangi Military commander Maj. Gen. Nugroho Budi Wiryanto had also volunteered for the trials.last_img read more

Friday people roundup

first_imgSpence Johnson – Yoon Ng has been hired to lead Spence Johnson’s Asia-Pacific business. Her initial focus will be on the consultancy’s data platform, Institutional Money in Motion, which currently tracks close to $5trn (€4.5trn) in institutional assets. She joins from Cerulli Associates. ABP, De Eendragt Pensioen, Shell Pensioenfonds, Sprenkels & Verschuren, Aon Hewitt, Mercer, Spence Johnson, Cerulli AssociatesABP – André van Vliet has been appointed as a board member of the €355bn Dutch civil service pension fund ABP. He was nominated by employee organisation Ambtenarencentrum. Van Vliet has been financial director of pensions insurer De Eendragt Pensioen, taken over by insurer ASR last year. Between 1988 and 2014, he was director of financial risk management for pension funds and insurers at consultancy Ortec. Shell Pensioenfonds – Jeroen Kakebeeke has been appointed investment analyst at the €23bn pension fund of Shell Netherlands. He will be responsible for monitoring and investment advice, together with Henk Sytze Meerema, his manager. During the first six months of last year, Kakebeeke was investment consultant at consultancy Sprenkels & Verschuren. Before then, he was portfolio manager for external managers and socially responsible investment at Timeos, the asset manager for the €20bn pension fund PGB.Aon Hewitt – Dominique Grandchamp has been appointed head of investment consulting in Switzerland. He joins from Mercer, where he was a senior investment consultant, advising on ALM, strategic asset allocation, portfolio management and selection of asset managers. Before then, he served as CIO, portfolio manager and fund analyst at a number of institutional financial companies.last_img read more

Isle of Man appoints Tony Ure as e-Gaming lead

first_img Brazil to issue initial plans on Caixa Loterias sale August 17, 2020 Luke Campbell, Champion Sports: Modular thinking most play the lead role in sportsbook migrations August 26, 2020 Submit Related Articles StumbleUpon Share Luckbox outlines final TSXV roadmap July 29, 2020 Share Tony UreUpdating the market, the Isle of Man Government has confirmed the appointment of Tony Ure as its new Head of e-Gaming.A former IGT Group & GTech executive, Ure takes on the leadership of the Isle of Man’s digital gaming division, promoting the self-governing jurisdiction’s commercial and operational services for industry stakeholders.A seasoned gambling operations veteran, Ure has consulted and worked on major projects for enterprises in both digital and retail sectors including; Ladbrokes, Sheraton Group and Sky Poker.Confirming the appointment of Ure, Jonathan Mills, Director of e-Business, Department of Economic Development said: “Tony has spent over 30 years working for some of the most recognisable names in the industry. His extensive global experience in launching and running products and platforms across online and land-based operations will undoubtedly help drive continued growth in the Isle of Man’s e-Gaming sector, which currently represents around 20% of the Island’s economy.”Tony Ure commented on joining the Isle of Man: ‘I am looking forward to working with the e-Gaming team in the Department of Economic Development. It is an exciting time to join and continue the growth of the Isle of Man as the premier e-Gaming jurisdiction.’last_img read more

OSFI raises capital buffer for banks too big to fail as outlook

first_img Join the conversation → OSFI established the domestic stability buffer, an added cushion to maintain stability of Canada’s systemically important financial institutions, at 1.5 per cent last June. It is reviewed and set twice a year, based on OSFI’s monitoring and analysis of “a range of vulnerabilities,” and was raised to 1.75 per cent in April.When making decisions about the stability buffer, the regulator considers consumer and institutional indebtedness, and whether there are asset imbalances in Canadian markets including housing, analysts said.It “looks like they think the operating environment is more challenging at the margin,” said David Beattie, senior vice president in the financial institutions group of Moody’s Investors Service, on Tuesday.Related Stories:UPDATE 2-EU banks worry about dividends as capital demands jumpSpain’s Banco Santander eyeing Canadian banking licence as more European lenders cross the pond Slow progress on open banking putting Canada further behind, observers warn Bank of Montreal joins Poloz’s push to bolster market for residential mortgage-backed securities Canada’s biggest banks are finding their growth everywhere but Canada The change is not expected to have a large impact on capital decisions at the country’s big banks on issues such as share buybacks because their overall capital buffers exceed the levels set by OSFI, analysts said.“However, what it does speak to is the regulator’s concern about the economic outlook and operating environment for the banks, which apparently in their view, is weakening,” said a Toronto-based analyst who spoke on condition that his name would not be used.The regulator’s “prudent concern” could be driven by the prospect of a slowing economy in which business spending fails to pick up the slack from a declining consumer spend, he said.This would be against a backdrop of already-stretched household balance sheets; a possible trade war between the United States and China could add further stress to the economy, the analyst said.Gabriel Dechaine, an analyst at National Bank of Canada, said OSFI’s decision to raise the capital bar amid recession fears is “a good thing,” particularly since Canadian banks’ total capital buffers are tracking well above OSFI requirements that now set the minimum at 10 per cent.The average was 11.5 per cent at the end of the recently reported second quarter, with a range of 11 per cent to 12 per cent, he said in a note to clients Tuesday.“If a downturn actually does materialize, then banks will not only be in a better position to withstand it, they may be able to deploy capital opportunistically (through buybacks or acquisitions) which would be better for investors in the long term,” Dechaine wrote.He added that increases to the domestic stability buffer in “good times” are phased in, while any reductions in “bad times” would be immediate.In December, when the first increase to the new domestic stability buffer was announced, TD Securities analyst Mario Mendonca said commercial loan growth and credit losses are likely to capture more focus in 2019 and 2020 than the consumer segment.“Commercial loan growth, supported in large part by commercial real estate and construction lending, appears to be running above long-term sustainable levels,” Mendonca wrote in a Dec. 12 note, adding that commercial credit losses in 2018 were “well below the long-term average.”However, he added that he remained positive on the outlook for bank stocks, in part because “the Canadian banks’ business model has proven to be far more resilient than … their global financial services peers” in periods of stress. ← Previous Next → Sponsored By: Featured Stories More Twitter Share this storyOSFI raises capital buffer for banks too big to fail as outlook darkens Tumblr Pinterest Google+ LinkedIn Email While Canadian banks are being told to hold more capital, U.S. banks, have seen some easing in capital level requirements since President Donald Trump took over in 2016.Peter J Thompson/National Post Facebook Recommended For YouCorn pulls back from five-year high as traders eye U.S. weatherOsram says AMS has made non-binding takeover offer at 38.50 euros per shareCharles Schwab in talks to buy USAA wealth-management, brokerage units – WSJCentralSquare Launches ShareBlueSmiles: Spotlighting Dozens of Police Officers Going Above and Beyond for Their CommunitiesFrance’s Macron to speak to Rouhani, Putin and Trump to ease Iran tension June 4, 20194:31 PM EDT Filed under News FP Street Reddit What you need to know about passing the family cottage to the next generation OSFI raises capital buffer for banks too big to fail as outlook darkens The 2% buffer signals that banks still vulnerable to risks like high household and corporate debt Concern about the economic and operating outlook for Canada’s largest banks has prompted the country’s main banking regulator to raise the capital buffer the financial institutions must hold to maintain “resilience to key vulnerabilities and system-wide risks.”The 25-basis-point increase — to two per cent of total risk-weighted assets — will be effective Oct. 31, the Office of the Superintendent of Financial Institutions said Tuesday.What it does speak to is the regulator’s concern about the economic outlook and operating environment for the banks, which apparently in their view, is weakening Comment advertisement 1 Comments Barbara Shecter last_img read more