SOUTHCOM Deploys Relief Mission to Haiti

first_imgBy Public Affairs Office, U.S. Southern Command October 06, 2016 MIAMI – A U.S. Southern Command (SOUTHCOM)-directed team will begin deploying to Port-au-Prince, Haiti today on a mission to provide humanitarian and disaster relief assistance. The advance team, comprised of a joint task force commander and a command and control element, will arrive first and will set up operations at Port-au-Prince international airport. The team will prepare for the arrival of additional personnel and equipment via C-130. The helicopters and crew that arrived Tuesday to pre-position at Grand Cayman Island will remain until the weather is safe for helicopter travel to Haiti. When they do arrive, they will provide heavy lift support to ongoing U.S. disaster relief assistance missions requested by the government of Haiti. The mission is led by the U.S. Agency for International Development’s (USAID) Office of Foreign Disaster Assistance (OFDA). The team of approximately 100 military personnel and nine helicopters pre-positioned at Grand Cayman Island Tuesday in anticipation of a request to support the relief efforts. Members from Joint Task Force-Bravo (JTF-B) and Special Purpose Marine Air-Ground Task Force-Southern Command (SPMAGTF-SC) departed Honduras’ Soto Cano Air Base Tuesday aboard CH-53E Super Stallion, CH-47 Chinook, and UH-60L Black Hawk helicopters. The mission of Joint Task Force-Bravo includes being prepared to support disaster relief operations in Central America, South America and the Caribbean, when directed by SOUTHCOM. SPMAGTF-SC deployed to Central America in June to serve as a rapid response force during the hurricane season. It was headquartered out of Soto Cano Air Base in Honduras and was postured to rapidly deploy in support of a disaster relief mission in the region. Historically, U.S. military capabilities are needed most in the critical early stages of a disaster relief operation, when fewer resources, capabilities and disaster-response experts are available to help victims and impacted communities. As those disaster-relief missions progress and more experienced experts arrive to aid longer-term recovery and reconstruction, U.S. military capabilities are no longer requested, and roles previously performed by military units are assumed by other, more experienced relief organizations. Over the last several years, SOUTHCOM has provided disaster assistance to Haiti to help the Caribbean nation prepare for storms like Hurricane Matthew and other natural disasters, including the construction of emergency operations centers, disaster relief warehouses, fire stations and community centers that double as shelters. The command has also donated search and rescue boats, as well as transport vehicles to Haitian emergency response and civil protection agencies. SOUTHCOM is one of the nation’s six geographically-focused unified commands with responsibility for U.S. military operations in the Caribbean, Central America and South America.last_img read more

Reduce the chances of being accused of discriminatory lending practices

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Dennis Child Dennis Child is a 40 year veteran credit union CEO recently retired. He has been associated with TCT for 25 years. Today, Dennis enjoys providing solutions and training for credit … Web: tctconsult.com Details Making the news recently are the charges against some to the largest auto lenders alleging discriminatory pricing of loans and other discriminatory lending practices.American Honda Finance Corp and Toyota Motor Credit Corp are currently embroiled with the U.S. Department of Justice and the Consumer Financial Protection Bureau over accusations of discriminatory loan pricing practices through auto dealerships.In 2013, Ally Financial Inc. paid a total of $98 million in fines and borrower refunds to resolve similar accusations by the Justice Department and the CFPB of discriminatory lending practices.The practices that got Honda, Toyota, and Ally cross-wise with the DOJ and CFPB had to do with allowing dealers the ability and incentives to mark up interest rates. The regulatory agencies had evidence that loans to minorities were being marked up by dealers differently than to non-minorities. CFPB has issued a bulletin that it would hold indirect auto lenders accountable for unlawful discriminatory pricing at partnering dealers.Accusations of discriminatory practices that hit the news are one of the worst nightmares any lender can experience. Resolving allegations of discriminatory pricing of products is very costly in terms of fines, bad public relations, legal fees, and staffing.Reducing the chances of discriminatory loan pricing allegations are well worth the investment. Pricing loans using stochastically derived and statistically validated models will go a long way towards assuring all parties that loan pricing has been done in an objective, non-discriminatory manner.  This article describes how using stochastic methods for pricing loans according to risks and costs unique to each borrower benefits financial institutions and consumers. Using stochastic methods also helps assure regulators that a financial institution is adhering to unfair-lending laws.Most financial institutions engage in some form of discretionary consumer loan pricing using credit grades or some other non-discriminatory criteria that in their minds, reflects risks unique to individual borrowers. Unfortunately, many financial institutions price loans by watching the competition. By now, it should be obvious that this method is fraught with dangers. For lenders, pricing according to the competition or some other subjective method carries the following risks to name a few:No two lenders have the exact same cost structure especially for borrowers of different credit risk levels. There is no assurance that using the competition’s pricing will result in profitability and/or avoid the unfair practice of one class of borrower subsidizing another.Pricing loans differently according to a borrower’s “profile” without assuring such pricing is arrived at by using statistically validated methods based on a lender’s unique costs and experience leaves a lender open to accusations of discrimination. Discrimination accusations can be difficult to fend off unless a lender can show it used stochastic methods based on its data, lending history and experience to create its pricing model.Using subjectivity or some other non-statistically validated process to set prices opens the gates for a myriad of entities including regulators to accuse a financial institution of discrimination.A financial institution wants to engage in activities, including loan pricing, that are defendable if challenged by regulators or other groups. A financial institution can feel confident its loan-pricing model meets regulations, is profitable, and minimizes unfair subsidies between classes of borrowers if its loan program follows these criteria:Uses stochastic methods and its borrower database to determine risks inherent in different credit scores and then establishes its credit grade rangesIdentifies costs (including operational, collections, charge-offs, cost of funds, etc.), both direct and indirect that are incurred in its lending processUses Activity Based Costing (or some equivalent method) to assign lending costs to each risk-grade of borrower, loan type, etc.Converts these costs to interest rates according to risk grade, loan type, etc.Determines an acceptable profit margin and assigns rates accordingly to each risk-grade of borrower, loan type, etc.Statistically validates its pricing structure on a regular basis to assure its pricing model accurately reflects costs unique to each credit-risk grade, loan type, etc.In summary, there are eight primary reasons financial institutions should use stochastic methods for risk-based loan pricing:It allows them to reach “deeper” into the loan pool and profitably serve a wider base of borrowersSo they can identify proper rates for each borrower and avoid subjective pricingIt assists them in determining correct FICO ranges for establishing rates by credit gradeIt helps assure they diversify their loan portfoliosIt assures they are pricing loans such that they can be confident that they are applying the optimum mark-up on loans above their lending costsIt helps maximize yields on overall loan portfoliosIt helps assure that every borrower pays according to their relative risk and that one class of borrower is not subsidizing anotherIt helps assure objectivity in the loan pricing process and therefore helps assure a financial institution engages in loan practices that are considered ethical and legalThe Department of Justice or the Consumer Financial Protection Board are typically not bearers of glad tidings. Use stochastic management tools to reduce the chances of having to cope with them.last_img read more

In 2021, Lufthansa will have 6 lines to Croatia

first_imgThe new Lufthansa line will operate in the evening: departure from Frankfurt is scheduled for 17:35, and arrival in Rijeka at 19:20. The return flight will depart from Rijeka at 21 pm, while the arrival in Frankfurt is planned at 30:XNUMX pm. The company leaves the possibility of adding more weekly flights on this route, which will primarily depend on the state of booking. The line Frankfurt – Rijeka – Frankfurt will be in operation from May 08, once a week, on Saturdays. A320 aircraft with a capacity of 168 to 180 seats have been announced on the route, Lufthansa points out. In the summer flight schedule, Lufthansa from Frankfurt operates to 5 destinations in Croatia: Zagreb, Pula, Zadar, Split and Dubrovnik, and from next summer season, the sixth destination in Croatia – Rijeka Airport will be added to the list. Of course, if the situation around the coronavirus pandemic is stable next year.center_img Germany’s Lufthansa announced today that in summer flight schedule 2021. to introduce 14 new international lines from its base in Frankfurt. Among others, the Frankfurt – Rijeka line is being introduced, reports from Croatian Aviation.last_img read more

Man of auctions

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

Airlines face growth warning as virus curtails Singapore Airshow

first_imgThe Pentagon reduced the size of its delegation to the air show, which had been set to include its chief weapons buyer, US Undersecretary of Defense Ellen Lord, Reuters reported on Friday.Singapore on Friday raised its alert level for the coronavirus outbreak to orange, the same level reached during the 2003 Severe Acute Respiratory System (SARS) pandemic, sparking panic buying at supermarkets across the island.There are 43 confirmed cases of coronavirus in Singapore. The orange alert level advises organizers to cancel or defer non-essential large-scale events and recommends precautions such as temperature screening and more frequent cleaning of common areas for those that do proceed.Health experts, however, said they were concerned that temperature screening might not be effective, given reports the coronavirus could be spread by people without symptoms.”Temperature screening is okay to pick up people already sick – and those people should not be coming to the show anyway – but doesn’t pick up people incubating the virus,” said John McBride, an infectious disease physician and professor at Australia’s James Cook University.SIA Engineering Company Ltd and GE Aviation on Monday said they had postponed plans to hold a groundbreaking ceremony for a new engine overhaul facility in Singapore on Tuesday until further notice because of the raised alert level.Saudi Arabia’s General Authority for Military Industries withdrew from the show late Sunday, citing concerns associated with the coronavirus.The air show’s organizers said on Sunday they were expecting more than 930 companies from 45 countries and 45,000 trade attendees – down from the 54,000 at the last show in 2018. They also plan to limit public attendance.The lobbies of major hotels, usually bustling with attendees, were noticeably quiet.A spokeswoman for the organizers on Monday declined to provide an update on numbers and why the air show was going ahead when many smaller associated events and briefings were being cancelled over coronavirus concerns.Canceling the show would lead to refunds running into the tens of millions of dollars, a source at one of the exhibitors told Reuters on condition of anonymity because of the sensitivity of the matter.Organiser Experia Events, partly owned by ST Engineering and government agencies, charges at least S$1,550 per square meter for space in the show’s exhibition hall, according to its website.That would equate to more than S$3 million (US$2.16 million) for ST Engineering’s booth, the show’s largest at more than 2,000 square meters. ST Engineering is majority owned by Singapore state investor Temasek Holdings.Experia Events managing director Leck Chet Lam on Sunday said he could not comment on the financial terms of a cancellation.”That is between us and the exhibitor,” he told reporters.Topics : Few deals are expected at the biennial event, where the epidemic has triggered new safety measures and cast a shadow over airline profits and demand for airplanes.Before the coronavirus hit, the International Air Transport Association had expected passenger numbers to rise by 4 percent in 2020 and cargo traffic to be 2 percent higher.”All bets are off in terms of traffic forecasts for this year,” Andrew Herdman, the director general of the Association for Asia Pacific Airlines, said in an interview.”If you look at the schedule cuts and the actual operations they have been cut by 50 percent, 60 percent, 70 percent within China. It is pretty drastic,” he said. Asian airlines face “drastic” cuts in their planned growth because of the coronavirus crisis, an industry group warned, adding gloom to an already depleted Singapore Airshow as more companies scaled back plans on Monday.The Singapore Airshow from Feb. 11 to 16 is proceeding, but the exhibition center is pockmarked with empty spaces that would have held displays from Chinese companies and others skipping the show because of the epidemic, which has killed more than 900 people.More than 70 exhibitors, including major United States defense firms Lockheed Martin Corp and Raytheon Co have pulled out over concerns related to the new coronavirus.last_img read more

PREMIUMJakarta again extends ‘PSBB transition’ as positivity rate hovers just below 10% benchmark

first_imgLinkedin Facebook LOG INDon’t have an account? Register here Jakarta Governor Anies Baswedan on Thursday announced that he would again implement another 14-day extension of the transition period for gradual easing of the large-scale social restrictions (PSBB), effective starting Friday.The extension is the fifth since the capital began its so-called transitional PSBB phase on June 4 to revive the sluggish economy.And this time, Anies is looking to reopen movie theaters, despite the continuing surge in COVID-19 cases.The city recorded 820 new cases on Thursday when Anies announced the extension, its highest daily tally. On Friday, it recorded 816 new cases to bring Jakarta’s cumulative tally to 37,278 confirmed cases, including 6,955 active cases of which 2,827 patients are currently hospitalized.The nation’s capital has recorded a total of 1,154 COVID-19 deaths…. Topics : Log in with your social account Forgot Password ? Google #Jakarta COVID-19 COVID-19-Jakarta #COVID19 PSBB PSBB-transisi #social-distancing social-restrictionlast_img read more

Kieran Tierney must make Premier League debut against Sheffield United, says Arsenal legend Alan Smith

first_img Comment Unai Emery previews Arsenal’s Monday night clash with Sheffield UnitedTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 14:53FullscreenUnai Emery previews Arsenal’s Monday night clash with Sheffield Unitedhttps://metro.co.uk/video/unai-emery-previews-arsenals-monday-night-clash-sheffield-united-2029340/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.‘To put it mildly, that’s not an ideal combination.‘For me, Holding’s calmer presence and good reading of the game make him a better partner for Luiz.‘The lad has been dreadfully unlucky with injuries so far, but if he can only stay fit, the 24-year-old has the ability, I think, to become an Arsenal regular for several years to come.’More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City James GrayMonday 21 Oct 2019 3:26 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link2.1kShares Kieran Tierney is finally fit enough to start for Arsenal (Picture: Getty)Arsenal legend Alan Smith has urged Unai Emery to hand Kieran Tierney his Premier League debut against Sheffield United on Monday evening.The Gunners let in 51 goals in each of their last two Premier League campaigns, more than they had conceded in the previous 33 seasons.They are on track to exceed that figure again having already conceded 11 goals in their first eight league games, despite spending a total of £33million on Tierney from Celtic and David Luiz from Chelsea during the summer transfer window.Tierney is yet to feature in the Premier League due to a pre-existing hip injury but, now that he is fit again, Smith reckons tonight’s clash at Bramall Lane is the perfect opportunity for Emery to show that the left-back is the future of this defence.ADVERTISEMENT Emery has a host of defensive options available to him (Picture: Getty)‘The young Scot is an exciting prospect, as shown by a brilliant display against Standard Liege in the Europa League,’ Smith wrote in his Evening Standard column.AdvertisementAdvertisement‘He’s a better defender than Sead Kolasinac and more mobile going forward, where his crossing ability can become a potent weapon.‘I can’t see any reason why Emery wouldn’t pick the left-back for tonight’s game.’The reception to Arsenal’s other defensive summer signing has been distinctly mixed with Luiz’s mad-cap style often leaving an already-shaky back line exposed.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalAnd Smith would rather see Rob Holding, who has recently returned from nine months out with a serious knee injury, deployed in the middle.‘I’m a big fan of Rob Holding, who could possibly get a run out in central defence,’ Smith added.‘Holding offers a steadier option in an area of the pitch where Sokratis can be hot-headed and David Luiz unpredictable.center_img Kieran Tierney must make Premier League debut against Sheffield United, says Arsenal legend Alan Smith Advertisement Advertisementlast_img read more

New Farm cottage snapped up before auction

first_imgThe home at 193 Annie St, New Farm. Picture supplied.Mr Given said the vendors had kept the cottage’s original facade and extended out the back.Marketed as the “quintessential family home”, the house spans two levels on a 405sq m block with views of Teneriffe Hill.The living area transitions to an outdoor entertaining area, equipped with built-in seating, gas barbecue and outdoor kitchen. It’s close to New Farm State School, New Farm Park and bars and restaurants. New Farm has as median house price of $1.575 million according to property research firm CoreLogic. The home at 193 Annie St, New Farm. Picture supplied.A CENTURY-OLD New Farm cottage has been snapped up before auction after wowing would-be buyers with its meticulous renovation.The three-bedroom, three-bathroom home at 193 Annie St had been on the market for several months before Ray White New Farm’s Nicholas Given took over the listing.It recently sold prior to going to auction for close to $1.7 million.Mr Given said it was a case of new buyers coming into the market at the right time.More from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019He said some parties were interested in buying the home and the vendors accepted an offer before the scheduled auction.last_img read more

Friday people roundup

first_imgInternational Accounting Standards Board, Royal London Asset Management, HSBC Global Asset Management, Willis Towers Watson, Stockholm School of Economics, AP7International Accounting Standards Board – Hans Hoogervorst has been reappointed chairman of the accounting body for a second five-year term, taking effect from July. The board also announced that Hoogervorst’s vice-chairman, Ian Mackintosh, has decided not to seek a second term and will step down at the end of June.Royal London Asset Management – Phil Reid has been named head of wholesale asset management. He joins from HSBC Global Asset Management, where he was head of UK wholesale. He will report to the asset manager’s head of distribution, Rob Williams.Willis Towers Watson – Bart den Hartog has been appointed head of activities for the Benelux. Previously, Den Hartog was head of retirement solutions, as well as managing consultant at Towers Watson. At the same time, the company named Jeroen Everling as head of corporate risk. Until recently, Everling was chief executive officer at Willis Group Nederland. Stockholm School of Economics – Peter Norman has been named chairman of the school’s new four-year research programme on how financial markets can contribute to sustainable developments. Norman was financial markets minister in the previous Swedish government and prior to that spent two years as chairman of AP7. He has also worked at Riksbanken, Sweden’s central bank.last_img read more

Dutch occupational pension funds looking for change, survey shows

first_imgCB said 40% of respondents expected to change their pension arrangements, such as replacing their average salary plans with defined contribution (DC) or collective DC schemes.It said more than two-thirds of respondents were still weighing their options, and that 60% were considering switching to an APF, by establishing one themselves or joining one in the market.DNB, the Dutch regulator, is assessing six applications for APF licences, most of which have been submitted by insurers, including CB, a subsidiary of Achmea Group.CB also found that 58% of the companies surveyed supported measures to increase the sustainability of their pensions, and that 16% had an APF in mind as an alternative.It revealed that sponsors were concerned about “losing their say and identity”, as well as “distance” from their participants as a consequence of changing pension plans.The future Centraal Beheer APF is to operate as an independent foundation.It will employ CB for distribution and the €100bn Achmea IM for asset management, using Achmea’s new online platform for administration.According to DNB statistics, 236 of the remaining 320 pension funds at the end of last year were company schemes.Recently, the regulator indicated that the total number of pension funds was to fall to approximately 265, as dozens are now in the process of liquidation. Most company pension funds in the Netherlands have doubts about their sustainability and are considering changing providers or pension arrangements, according to a survey commissioned by insurer Centraal Beheer (CB).The survey of 30 board members and 36 sponsors found that 93% of the pension funds were thinking of switching to another provider, such as the new general pension fund (APF) or an insurer, or joining a low-cost defined contribution vehicle (PPI).Company schemes are also looking to join a sector scheme or merge with another company pension fund, according to CB.The chief reasons for the possible changes were concerns over board continuity due to increased expertise requirements for trustees, as well as lowering costs by increasing scale.last_img read more