Markets Foster Disillusionment with System

first_img RELATED ARTICLESMORE FROM AUTHOR AvatarChoi Song Min Facebook Twitter News Since taking the helm of North Korea, Kim Jong Eun hasdisplayed consistent efforts to imitate his grandfather Kim Il Sung, the nation’s founder, in order to elicit people’sloyalty. What do North Koreans actually make of this? An increasing number ofpeople are said to have given up hope for the new leadership, believing thatthe young Kim seems focused on mimicking his grandfather rather than improvingtheir lives. “The current society under Kim Jong Eun isneither socialist nor capitalist; it’s a total amalgam,” a source from South Pyongan Province said in a phone call withDaily NK on Tuesday. “Kim Jong Eun may be wearing theclothes of Kim Il Sung on television and trying to revive the era when thegovernment adhered to the Public Distribution System. But how is this really effective when current living conditions aregetting no better?” She went on to point out that residentsturn to the markets for everything they need, so attempting to drum up loyaltyfrom ordinary people is akin to “talking to a statue.” While the older generation may cling to lingering positive memoriesof Kim Il Sung, that era is “long gone” for those middle-aged and under in North Korea, she asserted.“People are disillusioned. They havealready seen their two ‘eternal Suns’ [Kim Il Sung and Kim Jong Il] die like ordinary people, theirbodies lying in the Kumsusan Palace of the Sun; no one sees them as deitiesafter that,” she explained, adding that “the more Kim Jong Eun emulates his grandfather, the moredisenchanted the population grows.”  Kim Jong Eun’s efforts to imitate hisgrandfather are reflected in everything from his attire to his on-site visits to state-runenterprises, military units, and residents’ homes. Just like the senior Kim, the young Kim has worked tirelessly to convey his purported intimacy with the public, posing forphotos with everyday people and engaging in general chitchat with soldiers. According to the source, however, these attempts may actually be having the reverse effect.  North Korean residents are coming to seehow constrained life was during Kim Il Sung’s era,forced to be loyal to the leader despite limited state provisions and forbiddenfrom engaging in individual economic activities. After decades of economicmismanagement and the end of the Cold War brought on the “Arduous March[North Korea’s famine of the mid-1990s],” residents turned to marketactivities to survive; the historical contrast highlighted by these relative economic freedoms continues to spur feelings ofdiscontent among the populace, who are increasingly critical of thethree-generation hereditary dictatorship and its oppressive policies.  “People do not celebrate the Day of theSun, Kim Il Sung’s birthday on April 15th, half asenthusiastically as they celebrate Chuseok [the traditional harvest of theKorean people],” she asserted. “On Seol [Lunar New Year] or Chuseok, people spend money they’ve saved up to really get into the holiday spirit, but on April 15thpeople stick to the bare minimum—offering up flowers—and only those with disposable cash will drink and try to make anenjoyable day out of it.” Although placing flowers beneath thestatues of Kim Il Sung and Kim Jong Il–ubiquitous across the nation–on theseholidays is mandatory, some manage to avoid it altogether or participate in a diminished capacity. Purchasing these flowers isprohibitively expensive for so many North Korean people, who struggle to makeends meet on a daily basis, so they bum a few from friends to use instead. Inother cases, people lie and say they made flower offerings at odd hours when noone was around, according to the source. Even entertaining thoughts of failing to present flowers at the base ofthese statues would have been unfathomable in the 1990s–let alone actually following through; however, what seemslike small shift is actually rather seismic–a clear reflection of people’s waning loyalty and satisfaction with the leadership.*The content of this article was broadcastto the North Korean people via Unification Media Group. North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) US dollar and Chinese reminbi plummet against North Korean won once again By Choi Song Min – 2015.04.30 3:23pm center_img News News NewsEconomy Markets Foster Disillusionment with System SHARE Proposal to shift “general markets” to “specialized markets” finds little support among N. Korean leaderslast_img read more

OSC FINRA information sharing agreement approved

Facebook LinkedIn Twitter An agreement to improve information sharing between the Ontario Securities Commission and the U.S. self-regulatory organization, the Financial Industry Regulatory Authority, Inc., has received final approval. The OSC announced Friday that Ontario finance minister Dwight Duncan has approved a memorandum of understanding between the commission and FINRA, which is intended to facilitate the exchange of information about firms that operate across the border, particularly concerning enforcement-related matters. Related news The agreement is intended to bolster market oversight by helping the regulators share information on firms and individuals, enable collaboration on investigations and enforcement cases, and provide a more complete view of market activity. The agreement, which was signed by the regulators’ chiefs, Howard Wetston, chair of the OSC, and Richard Ketchum, FINRA’s chairman and CEO, back in November came into effect in Ontario on December 13. When does poor service become a regulatory issue for online brokerages? IIROC drops expanded OBSI reporting proposal IAP to focus on SROs, taskforce in 2021 James Langton Share this article and your comments with peers on social media Keywords Self-regulatory organizationsCompanies Financial Industry Regulatory Authority, Ontario Securities Commission read more

Actively managed mutual fund costs continue downward march: IFIC

first_img Purpose looks to fill retirement income gap with longevity fund The report, Monitoring Trends in Mutual Fund Cost of Ownership and Expense Ratios – A Canada-U.S. Perspective, 2017 Update, was commissioned by IFIC to update an in-depth study published in 2012 that examined the relative costs of mutual fund ownership in Canada and the United States. The study was last updated in 2015. According to the report, which was commissioned from Toronto-based research firm Strategic Insight, the average cost to advised investors of owning actively managed mutual funds has dropped six basis points (bps) in Canada since 2014 to 2.14% at the end of 2016. The average cost declined through reductions in management fees, expenses, and other fee cuts, the report says, along with the introduction of programs that offer cheaper versions of funds to investors that meet minimum asset levels. “Strategic Insight’s 2017 analysis confirms that market forces are exerting downward pressure on fund fees to the benefit of investors,” says Paul Bourque, president and CEO of IFIC, in a statement. Comparable costs The report also argues that the cost of owning mutual funds is comparable between Canada and the U.S., at least for investors that use advisors. It stresses that one of the fundamental differences between the fund industry in Canada and the U.S. is that the Canadian industry generally uses embedded commission structures, which impose trailer fees to fund the cost of distribution. American investors typically pay for advice and service outside of the fund itself. So, although the total expense ratio of an actively managed mutual fund in the U.S. averages between 60 and 80 bps, the external cost of advice pushed the overall average cost up to an estimated 1.95% at the end of 2016. “When compared head-to-head, the average [cost of ownership] of funds was 19 bps higher in Canada than in the United States at the end of 2016. The difference is largely reflected in the taxes levied on embedded costs and other fees. If taxes are excluded, the average Canadian cost of ownership is 1.96%, nearly equal to the estimated average in the United States,” the report says. These estimates only reflect products sold through advice channels, the report acknowledges. “The overall cost of ownership declines considerably (particularly in the United States) when funds that are purchased without advice, such as through employee-sponsored retirement plans, online/discount brokerages or directly from fund manufacturers, are included,” it says. The research also excludes passively managed funds, and exchange-traded funds (ETFs). In terms of industry asset growth, for the two-year period ended December 2016, mutual fund assets in Canada grew by 8.4% annually, adding almost $200 billion in assets over the two years, the report finds. Almost half (48.8%) of the asset growth came from inflows of new money, with the rest generated by market gains. Photo copyright: garagestock/123RF/123RF Share this article and your comments with peers on social media James Langton The average cost of owning actively managed mutual funds sold by advisors has declined over the past couple of years, as the industry responds to competitive pressures, according to a new report published Wednesday from the Investment Funds Institute of Canada (IFIC). Facebook LinkedIn Twitter IG Wealth amends product shelf Franklin Templeton launches new real asset fund Keywords Embedded commissions,  Mutual fundsCompanies Investment Funds Institute of Canada Related news Weak but mostly positive performance for Canadian funds in August: Morningstar garagestock/123RFlast_img read more

Jamaican Soldier Top Overseas Student at RAF Training Course

first_imgRelatedJamaican Soldier Top Overseas Student at RAF Training Course Jamaican Soldier Top Overseas Student at RAF Training Course UncategorizedJune 7, 2007 FacebookTwitterWhatsAppEmail Second lieutenant Brandon Chambers of the Jamaica Defence Force (JDF) Air Wing was the winner of the Overseas Students’ Prize at the recent passing out ceremony for the Initial Officer Training Course at the Royal Air Force (RAF) College Cranwell in the United Kingdom.The Overseas Students’ Prize is awarded to the international officer cadet with the best overall performance in leadership, officer qualities and professional studies. Chambers, who placed seventh in the course, was also among the top 10 students, who gained distinctions. “It feels good because in the course, there were quite a few really smart people, so to come seventh out of more than 100 is really good. To come abroad and do well on a course is really great,” he told JIS News.The 22-year old, who returned to Jamaica last weekend, was born and raised in Kingston and is a past student of the St. George’s College and a graduate of the University of the West Indies with a degree in International Relations. While at university, he attended the Caribbean Aviation Training Centre where he acquired his private pilot licence with approximately 69 flight hours on three different aircraft.Mr. Chambers said that as a young child, he wanted to be a soldier and later developed a love for aviation. “When I was younger I wanted to be a soldier .but I fell in love with aviation when I was about 12 and I told my parents that I wanted to be a pilot and it just seemed the best thing was to be a military pilot. It would be fulfilling both dreams,” he said.He credits his success to his parents, who encouraged him to pursue his dream of a military career, the positive rivalry with his older sister Kimberly and the influence of his cousin Kimar, who inspired him to work hard.He has also won praise from RAF College Cranwell for his commitment and drive, which was described as being beyond reproach.“His dress and deportment has been exemplary and he has truly set the standard to which his peers should aspire. He has worked hard to develop his leadership, which steadily improved as the course progressed. He has also eagerly participated in all classroom lessons, making valuable and constructive comments.He is a personable individual and in the social arena he is polite, courteous and always appropriate. He is a shining credit to the JDF,” the College said. RelatedJamaican Soldier Top Overseas Student at RAF Training Coursecenter_img RelatedJamaican Soldier Top Overseas Student at RAF Training Course Advertisementslast_img read more

Catholic sector looks forward to working with new Federal Education and Youth Minister

first_imgCatholic sector looks forward to working with new Federal Education and Youth Minister The National Catholic Education Commission (NCEC) is looking forward to working with the new Minister for Education and Youth, Alan Tudge MP, announced by Prime Minister Scott Morrison today, and thanks outgoing Minister Dan Tehan MP for his work in the education portfolio. NCEC executive director Jacinta Collins said the Catholic sector has had a productive working relationship with Minister Tehan over the past few years.?Catholic education is pleased to have worked with Mr Tehan, particularly in providing funding certainty for our schools by finalising the new school funding arrangements,? Ms Collins said.?Mr Tehan has always engaged with our sector and school communities in a constructive and supportive way. We congratulate him on his appointment as Minister for Trade, Tourism and Investment and wish him well in his new portfolio.?We also congratulate Alan Tudge MP on his appointment as the new Minister for Education and Youth and look forward to working with him,? she said.?Australian Catholic education is celebrating our bicentenary next year and it?s because of the commitment of successive governments over the past 60 years that we have been able to contribute to the educational needs of one in five students in Australia.?We welcome the opportunity to continue our work, and the positive and productive working relationship we have with the Morrison government,? Ms Collins said. In Australia, there are 1,751 Catholic schools educating 768,000 students and employing 98,000 staff. Nearly 40 per cent of Catholic schools are located outside of metropolitan cities in regional, rural and remote communities. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, Catholic, catholic education, Commission, education, Federal, Government, Investment, Minister, Morrison, NCEC, Prime Minister, remote communities, Scott Morrison, students, tourismlast_img read more

JDF gets land for relocation

first_imgFacebookTwitterWhatsAppEmail Prime Minister, the Hon. Bruce Golding has informed the House of Representatives that the Jamaica Defence Force (JDF) has been given the land in St. Catherine, for the construction of its new headquarters.“We have already transferred to the JDF over 4,000 acres of land in Caymanas. That will become their new headquarters. They will have a major training facility there and a major operational base. It is something that will be done over time,” Mr. Golding told the House of Representatives, yesterday (November 23).The Prime Minister was making his contribution to the debate on An Act to Amend the Urban Renewal (Tax Relief) Act, which seeks to enhance and encourage the redevelopment of downtown, Kingston.Mr. Golding said the relocation of the JDF from its current site at Up Park Camp would “free up 270 acres of land sitting in the middle of the city that, in my view, is going to provide an opportunity for us to retrofit the city of Kingston, provide it with the lungs that it does not now have and create the kind of facilities that would completely rejuvenate the city of Kingston.”“It requires very careful planning; it is going to have to be something that engages the entire community of the Corporate Area,” the Prime Minister said.He pointed out that preliminary work on the design of the new JDF headquarters has already been done and the issue will be looked at more closely during a meeting with the Urban Development Corporation (UDC) later this week.In her remarks, Leader of the Opposition, the Most Hon. Portia Simpson Miller expressed reservations about the impending relocation of the JDF to the Caymanas area.“I am not saying we are opposing yet. I am saying I would love to have some further discussions on that. There are security concerns that just jump out at me immediately, and other concerns in terms of our history and the preservation of our heritage,” Mrs. Simpson Miller said. Advertisements RelatedJDF gets land for relocation JDF gets land for relocation National SecurityNovember 24, 2010center_img RelatedJDF gets land for relocation RelatedJDF gets land for relocationlast_img read more

Facebook in Home talks with Apple and Microsoft – report

first_img Author Steve Costello Google taps retail with NYC store Facebook is in talks with Apple and Microsoft about offering a version of the social network’s Home interface for the iPhone and Windows Phone devices, according to Bloomberg.Citing Adam Mosseri, director of product for Facebook, it was said that the company is in “an ongoing conversation” with the companies to offer a version of Home, which was unveiled for Android devices earlier this month.However, website TNW said it had been in contact with “a source inside Facebook”, who said that “right now no discussions have taken place to bring Home to those platforms”.Unlike Android, where Google very much takes a hands-off approach to how the platform is used, both Apple and Microsoft prefer to control the user experience, limiting the potential for third-party modifications.In an interview with Wired at the time of the Home launch, Mark Zuckerberg, the social networking giant’s CEO, said that although the company has a “pretty good partnership with Apple”, the iPhone maker “wants to own the whole experience themselves”.“There aren’t a lot of bridges between us and Google, but we are aligned with their open philosophy,” he continued.As far as Apple is concerned, handing over a significant chunk of its interface to a third party would mark a significant change in strategy – and it is not immediately clear how it would benefit from it.Facebook (alongside Twitter) is already tightly integrated into Apple’s iOS 5 platform.Mosseri told Bloomberg that the version for Home developed for iOS could “look much different” to the Android version.“We could also just bring some of the design values to the iOS app. That might be how it ends up. Or we could build just the lock screen. Maybe then it’s not called Home, it’s called something else,” he suggested.With regard to Windows Phone, The Verge said that the positioning of Home, as a people-centric interface, is similar to that already used by Microsoft as its differentiator – making it unlikely to want to cede too much control to the social networking company.Indeed, Microsoft has already used its official blog to describe the debut of Facebook Home as “remarkably similar to the launch event we did for Windows Phone two years ago”. Tags Devices KT makes LG Electronics trade-in move Relatedcenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 16 APR 2013 HomeDevicesNews Facebook in Home talks with Apple and Microsoft – report Previous ArticleMetroPCS gives thumbs up to improved T-Mobile offerNext ArticleOperators key for subscription music, says Deezer CEO Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more Apple faces 5G modem wait AppleFacebookiOSMicrosoftWindows Phonelast_img read more

Owen takes 5-point lead in Barracuda

first_imgRENO, Nev. – Greg Owen of England had nine birdies on Saturday to take five-point third-round lead in the Barracuda Championship. Owen had eight birdies and three pars on 11 holes before a double bogey on 18 to finish a 14-point round in the modified Stableford scoring system that gave him 37 points going into Sunday’s final round. Barracuda Championship: Articles, photos and videos Stuart Appleby and Derek Fathauer both had birdies on 18 to finish Round 3 tied for second with 32 points. Ricky Barnes had 15 points, including five consecutive birdies, to move up 14 spots into fourth place with 31 points. Second-round leader Richy Werenski had three of his four bogeys on the back nine and fell into a tie for fifth with Tom Hoge, Ben Martin and Dicky Pride with 30 points apiece. The tournament is the PGA Tour’s only Stableford scoring event. The system awards eight points for a double eagle, five points for an eagle, two points for a birdie and deducts a point for a bogey and three points for a double bogey or worse.last_img read more

Fodder crisis: INHFA urge progress on Fianna Fail motion

first_img Harps come back to win in Waterford Facebook Previous articleDonegal Clubs and Organisations to benefit from latest round of fundingNext article15 people waiting for a bed at LUH News Highland Twitter Pinterest Derry draw with Pats: Higgins & Thomson Reaction Journey home will be easier – Paul Hegarty RELATED ARTICLESMORE FROM AUTHOR AudioHomepage BannerNews WhatsApp Donegal hoteliers enjoy morale boost as bookings increase Google+center_img By News Highland – April 24, 2018 WhatsApp Pinterest Twitter Facebook 45 new social homes to be built in Dungloe Consultation launched on proposal to limit HGV traffic in Clady Google+ Fodder crisis: INHFA urge progress on Fianna Fail motion The Irish Natura Hill Farmers Association is urging progress on a Dail motion which would, if put into practice, go some way in addressing the fodder crisis.The motion, which was passed last week, calls on the Government to immediately bring forward a hardship fund, a meal voucher scheme, low-cost loans as well as issuing balancing payments for outstanding schemes.President of the INHFA Colm O’Donnell believes all Oireachtas members have dragged their heels on the crisis by not intervening sooner.He’s warning that the situation is worsening with every day and it has to be addressed efficiently:Audio Player Up/Down Arrow keys to increase or decrease volume.last_img read more

Winter Plan: 900 additional acute beds to be provided

first_imgAudioHomepage BannerNews Journey home will be easier – Paul Hegarty Winter Plan: 900 additional acute beds to be provided 900 additional acute beds are to be provided across the hospital system to help deal with demand over the winter.A 600 million euro plan launched today aims to support the country through what will be one of the most challenging flu seasons on record.The main focus of the plan is to build capacity in the system as well as a major drive to increase the uptake of the flu vaccine.Director General of the HSE Paul Reid says the money being provided this winter is a 12 fold increase on last years plan:Audio Player Up/Down Arrow keys to increase or decrease volume. News, Sport and Obituaries on Monday May 24th Google+ WhatsApp WhatsApp Twitter Google+ Pinterest Twittercenter_img By News Highland – September 24, 2020 Harps come back to win in Waterford RELATED ARTICLESMORE FROM AUTHOR Previous articleFears for future of mental health day centre in LetterkennyNext articleDonegal woman returns for trial over false prescriptions charges News Highland DL Debate – 24/05/21 FT Report: Derry City 2 St Pats 2 Derry draw with Pats: Higgins & Thomson Reaction Facebook Facebook Pinterestlast_img read more