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Nadhlatul Ulama condemns job creation law as ’oppressive’, calls for judicial review

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first_img“But in fact, it benefits only a handful of people and creates an imbalance. The rich get richer and the poor get poorer,” he said.Muhammadiyah, the country’s second-largest Muslim organization, also voiced its concern about how the government had handled the law.Muhammadiyah general secretary Abdul Mu’ti said that given the widespread protests and strikes against the law across the country, the government should “understand the public’s psychological state and disappointment.”“[The government] should have a dialog with elements of the public, particularly those who are opposed to the law,” Mu’ti said in a statement on Muhammadiyah’s official website, adding that the government should avoid taking an “authoritarian approach.”Earlier this week, a group of religious leaders – including Muslim clerics Maksum Mahfudz, Busyro Muqoddas and Roy Murtadho, Christian pastors Merry Kolimon and Penrad Sagian – had also declared their opposition to the Job Creation Law. Penrad also posted an online petition calling for the public to reject the law. As of the time of writing, the petition has gained over 1.3 million signatures.Topics : “Within the omnibus law, education [institutions], for example, are treated as if they are companies. This is wrong,” he added.Said called for a tasawuth (moderate and balanced) solution in the form of a judicial review. “Our stance is critical [against the omnibus law] but let’s do it in an elegant way and without violence,” he said. “We demand a [judicial] review.” He further appealed to NU members to continue speaking out for the people. He said that Indonesia’s rich natural resources were sufficient for the welfare of the country’s entire population if managed fairly. Said Aqil Siradj, the chairman of Indonesia’s largest Islamic mass organization Nadhlatul Ulama (NU), has stated that the recently passed Job Creation Law is “oppressive” and benefits only the rich.“[The law] only benefits tycoons, capitalists and investors but tramples on the interests of laborers, farmers and the lower classes,” Said said in a video uploaded to NU’s official YouTube account.last_img read more

Most pension funds missed funding recovery targets, says Dutch regulator

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first_imgIf they were to achieve these goals, their funding levels would improve to almost 127% on average, according to the supervisor.However, other factors, such as insufficient contributions and the payment of index-linked uplifts, were a drag on performance relative to scheme recovery plans.Although DNB has previously urged pension funds to increase contributions, it cannot enforce this under current rules.Pension funds are allowed to smooth out their contributions over several years while taking expected returns into account.Benefit cuts imminent for trio of schemes Three quarters of Dutch pension funds have been lagging behind their expected funding recovery plans since 2015, according to regulator De Nederlandsche Bank (DNB).In an evaluation of the recovery plans of 143 underfunded schemes, DNB found that, on balance, their coverage ratios had barely improved during that period.Dutch pension scheme recovery plans are updated annually and must show how schemes expect to reach the required funding level of 125%. Almost all schemes expect to improve without having to apply cuts to benefits, and aim for surplus returns.DNB found that pension funds assumed they would achieve annual results of 4.3-5.1%. Metal industry schemes PME and PMT face benefit cuts in 2020Three pension funds – with 2m participants and pensioners in total – faced having to cut benefits next year, DNB said, as their coverage ratio had been short of the minimum required level of 104.2% for five consecutive years.These included the metal and engineering sector pension funds PMT, which runs €77bn of assets, and PME (€50bn).DNB said that three other schemes, with 7.7m members and pensioners in total, could be forced to reduce payments in 2021 if their coverage ratios were still insufficient at the end of 2020.Unavoidable cuts can be spread out over a 10-year period under Dutch rules.Common features of underfunded pension funds, according to DNB, included contributions that covered no more than 75% of liabilities, and a low interest rate hedging position. The average level of interest rate hedge across the schemes analysed by DNB was 31% of liabilities.Poorly funded schemes also had a relatively high exposure to listed equities (57% on average), according to the supervisor – including, for example, the €431bn civil service scheme ABP, the largest pension fund in the Netherlands.According to DNB, the opposite was the case for well-funded pension funds, which were often company schemes. Their contribution levels covered 108% of liabilities on average, while their interest hedges averaged 72% and equity allocation averaged 38%.However, this could also be down to these schemes’ high funding levels, as well-funded pension funds tended to reduce investment risks.last_img read more

PFA announce awards shortlists

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first_img Press Association Van Persie’ has been hugely impressive in his first season at Old Trafford, while Carrick receives his first nomination at the age of 31 after playing a key role in United’s quest for their 20th league title. The biggest surprise is the absence of Swansea forward Michu, who many believe to be the signing of the season. Like Bale, Hazard has also been listed for the Young Player prize, where he faces competition from Christian Benteke, Romelu Lukaku, Danny Welbeck and Jack Wilshere. Welbeck, Wilshere and Carrick are the only English players out of the 12 men nominated. For the first time, there will be a Women’s Player of the Year prize too, with Scotland’s Kim Little amongst those nominated in addition to 20-year-old Arsenal team-mate Jordan Nobbs, who scored a stunning debut goal against Italy in England’s triumphant Cyprus Cup campaign in March. United duo Robin van Persie and Michael Carrick are in contention for the award, while Chelsea’s Juan Mata and Eden Hazard have also been nominated. Liverpool striker Luis Suarez is not surprisingly on the list after his outstanding season, while Gareth Bale has been nominated for both the Player of the Year and Young Player of the Year award. center_img Manchester United and Chelsea both have two players on the shortlist for the 2012-13 Professional Footballers’ Association’s prestigious Player of the Year award.last_img read more

UCLA looks to sweep Utah

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first_img Associated Press For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.com UCLA looks to sweep Utah LEADING THE WAY: Utah’s Timmy Allen has averaged 17.6 points and 7.2 rebounds while Rylan Jones has put up 10.1 points and 4.4 assists. For the Bruins, Chris Smith has averaged 13.3 points and 5.5 rebounds while Jalen Hill has put up 9.1 points and 6.8 rebounds.SOLID SMITH: Smith has connected on 31.3 percent of the 64 3-pointers he’s attempted and has made 6 of 19 over his last three games. He’s also made 85.8 percent of his foul shots this season.UNDEFEATED WHEN: UCLA is a perfect 14-0 when it holds an opponent to 68 points or fewer. The Bruins are 1-11 when opponents score more than 68.STREAK SCORING: Utah has won its last four home games, scoring an average of 66.8 points while giving up 57.8.DID YOU KNOW: UCLA is ranked first among Pac-12 teams with an offensive rebound percentage of 35 percent. The Bruins have averaged 12.2 offensive boards per game.___center_img Share This StoryFacebookTwitteremailPrintLinkedinRedditUCLA (15-11, 8-5) vs. Utah (14-11, 5-8)Jon M. Huntsman Center, Salt Lake City; Thursday, 10:30 p.m. ESTBOTTOM LINE: Utah seeks revenge on UCLA after dropping the first matchup in Los Angeles. The teams last faced each other on Feb. 2, when the Bruins outshot Utah from the field 49 percent to 39.3 percent and made 13 more foul shots on the way to the 73-57 victory. February 19, 2020last_img read more