Indonesia among ‘world’s largest aviation markets’: Boeing

first_imgAs a result, Southeast Asia is expected to require 4,500 new airplanes, worth US$785 billion, over the next 20 years. The region’s demand for new planes makes up 10.2 percent of projected global demand during the period. Most of the planes will be small, single-aisle units instead of the larger, twin-aisle units.Growing demand for airplanes also translates to a growing market for airline services and industry employees. The manufacturer estimates the region’s airline service demand will be worth $785 billion until 2038 and require 182,000 new employees, including pilots, cabin crew and technicians.Topics : Vietnam, Thailand and Indonesia are in motion to become Southeast Asia’s top three economies in driving future demand for new aircraft, according to one of the world’s top plane manufacturers.United States airplane manufacturer Boeing said in a statement on Wednesday that Indonesia and Thailand were the region’s second-fastest growing aircraft markets after Vietnam. Since 2010, annual demand growth was about 10 percent in the former two and 15 percent in the latter.“With an expanding middle class in a market that continues to liberalize, coupled with a strong domestic, regional and international tourism sector, Southeast Asia has become one of the world’s largest aviation markets,” said Boeing commercial marketing vice president Randy Tinseth.last_img read more

UK government launches consultation on pension consolidators

first_imgIt said, therefore, it had three options: to maintain the status quo and rely on The Pensions Regulator (TPR) to oversee them with its existing powers; to legislate to prevent consolidation; or to create a regulatory regime that would work for all stakeholders.This government chose the third option “to proceed with what is a difficult but potentially worthwhile program to enable a properly regulated superfund consolidation sector”.However, upon the launch of the consultation, the DWP noted that it already aimed to strengthen the power of TPR to oversee the new, burgeoning sector, and ensure those operating in it passed a fit and proper person test. Source: PLSAGuy Opperman addresses the PLSA conference in October 2018Guy Opperman, minister for pensions and financial inclusion, said: “Well-run superfunds have great potential to deliver more secure retirement incomes for workers while allowing employers to concentrate on what they do best – running their businesses.”In the 67-page consultation document, the DWP said it was seeking the views of trustees, companies operating pension funds, and other stakeholders in the corporate landscape.Adam Saron, chief executive of Clara Pensions, welcomed the DWP’s efforts “in embracing innovation while also recognising the need for robust regulation”.Saron said the momentum behind the consolidation of DB schemes had gathered pace and the publication of the consultation was an important next step.He said: “The DWP has clearly put a great deal of work into considering important elements of the consolidation model, such as ensuring sufficient protections for members, financial sustainability and good governance. It is right that we have a debate about the financial sustainability of consolidators.”Luke Webster, CEO of The PensionSuperFund, said there was “nothing in the guidance that is incompatible with our initial transaction” and that it could therefore move to submitting it for regulatory clearance. The government department is also considering how to build an accreditation scheme for existing DB master trusts such as TPT Retirement Solutions, which it felt did not require authorisation or specific legislation as they were already bound by pension scheme regulation.The DWP said it preferred a voluntary, industry-led scheme that would raise awareness of these vehicles for DB schemes and was considering changing the name to avoid confusion with defined contribution master trusts.Opperman said: “We’re clear there needs to be proper regulation, and we’re consulting to ensure we get that right. We’re transforming pensions saving in this country through our radical reforms, and this is yet another innovation which will improve retirement prospects.”The consultation can be found on the DWP’s website and will close on 1 February 2019. The UK’s Department for Work and Pensions (DWP) has launched a long-awaited consultation on defined benefit (DB) scheme consolidators – dubbed “superfunds” – as the sector grows in prominence without appropriate regulation in place.In the last 12 months, two commercial DB consolidators have launched – Clara Pensions and The Pension Superfund – as maturing schemes look to de-risk. However, the two vehicles as yet have not written any business.The consultation document stated: “The current legislative framework does not prevent a superfund setting up and attempting to attract other funds to consolidate. However, there are clear risks in doing so without a suitable regulatory framework to ensure member protection.”The paper said the government wanted to do more to encourage consolidation, recognising the benefits it can bring in reducing scheme costs per member, enabling more effective investment strategies and improving governance.  last_img read more

CIBC First Caribbean Bank on Christmas campaign to raise funds for President’s Charities Foundation

first_imgLocalNews CIBC First Caribbean Bank on Christmas campaign to raise funds for President’s Charities Foundation by: – December 22, 2011 Share Tweet Share 40 Views   no discussionscenter_img Share Sharing is caring! Photo credit: cibcib.comCIBC First Caribbean is determined to give back to those for whom this sentiment might not be true, and for those whom the Christmas spirit may be thwarted by difficult circumstances.In its ongoing Christmas campaign, the Bank has made a pledge to distribute one percent of net retail sales made on its suite of Visa Classic and Visa Gold credit card products to charities in each of 15 countries across the Caribbean.In Dominica, the President’s Charities Foundation Incorporated has been adopted as that special charity. The President’s Charities Foundation Inc. is a registered nonprofit organization founded by His Excellency Dr. Nicholas J. O. Liverpool, President of Dominica, with its prime purpose of raising funds for distribution among charitable organizations in the society.The Foundation was formally incorporated in July 2006 and has from the year 2004 been involved in the hosting of the President’s Charities Foundation Dinner and Dance to raise funds for constructive and worthwhile social and community oriented projects and organizations or individuals throughout Dominica. The foundation also hosts a Christmas party for underprivileged children between the Ages of 5 and 12 from various parts of the Island. While the Foundation always welcomes donations from the community, CIBC First Caribbean wants to make sure that its pledge is extra special. Deputy Chairman of the foundation Mr. Antoine Raffoul expressed profound thanks to the Bank for what he called its thoughtfulness in adopting the Foundation as the recipient of the banks generous offer. He said that the money will augment the amount given to the various organizations which benefit from the President’s foundation.According to Managing Director of Retail Banking of CIBC First Caribbean, Rolf Phillips, the decision was an easy one that is in synch with the Bank’s continued commitment to a wide range of educational, humanitarian, youth development and entrepreneurship programmes that benefit a wide cross-section of people across the region.Country Head Paul Frampton stated that the Bank had a special affiliation with the President’s Charities Foundation Inc. and was always keen on supporting this very special cause.The Christmas campaign will climax on December 31st 2011 and thereafter the funds will be transferred.Dominica Vibes Newslast_img read more

Alpena is the 27th coldest city in the country

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisCan you bear these frigid temperatures? In a 2018 study, Alpena made the list of the top 50 coldest cities in the country.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisContinue ReadingPrevious Art in the Loft host Kids in the Kitchen to teach children how to prepare a meal by themselvesNext Thunder Bay Theatre creates new dance academy for all ageslast_img