PREMIUMIndonesia races against time for 2020 London Book Fair

first_imgForgot Password ? #LondonBookFair London-Book-Fair Literature #literature books #books Indonesia #Indonesia National-Book-Committee Tourism-and-Creative-Economy-Ministry Google Log in with your social account Facebook LOG INDon’t have an account? Register here Linkedin Indonesia has less than a month to prepare for the prestigious London Book Fair (LBF), as the government only recently made the decision confirming its participation.The 2020 LBF will be held from March 10 to 12 at the Olympia exhibition center in London. More than 25,000 publishers, booksellers, librarians and literary agents from over 100 countries are set to attend the fair, making it the second-biggest exhibition after the Frankfurt Book Fair.Indonesia has participated in the event since 2015 with the help of the National Book Committee (KBN) under the Education and Culture Ministry. In 2018, the now-defunct creative economy agency (Bekraf) took the lead after Indonesia was chosen to be the market focus at the book fair.Bekraf, however, was merged into the Tourism and Creative Economy Ministry in a Cabinet restructuring last October, with a number of senior ministry offic… Topics :last_img read more

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Buyers getting in before properties hit auction

first_imgThe home at 12 Beeston St, Teneriffe.A FEAR of missing out is driving home hunters in Brisbane’s two most expensive suburbs to snap up properties weeks before they go under the hammer.Buyers suffering from so-called FOMO are making offers on homes within days of them listing to avoid competing for limited stock in the sought-after suburbs of New Farm and Teneriffe, according to local prestige agents. A good example is the sale of a three-bedroom cottage on Teneriffe Hill, sold prior to auction for $2.4 million.The contemporary house on a 304 sqm block at 12 Beeston St was due to go to auction, but received three competing offers within the first week of listing.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 2019Matt Lancashire, of Ray White, negotiated the sale to a local owner-occupier who had been looking for a suitable place in the area for some time and didn’t want to miss out on this one.“Stock’s so tight at the moment there’s not a lot of choice, particularly in that part of Teneriffe,” Mr Lancashire said.“That $2 to $3 million range is so buoyant that there are no issues with a shortage of buyers.”The architecturally designed cottage is perched on an elevated position with amazing city views from the second living zone.A four-bedroom property at 153 James St, New Farm, fetched $2.71 million after receiving multiple offers. Ray White’s Scott Darwon negotiated the sale.Teneriffe has Brisbane’s most expensive median house price of $2.1 million, while New Farm’s is $1.57 million, according to CoreLogic.last_img read more

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Mercer floats alternative valuation approach to reduce IAS 19 P&L charge

first_img“But it is important to air these issues and start a debate. We want to see the IASB or the International Financial Reporting Standards Interpretations Committee look at this question and reach a position on it.”IPE has also learned that Jardine Lloyd Thompson (JLT) has raised the possibility of using a yield-curve valuation method.Executive director Hugh Nolan said: “We don’t see this becoming mainstream because of the potential risks, and smaller companies might find that the expenses outweigh any gains. As a result, the population of sponsors that might seek to benefit from this approach is very limited.”The IASB published its revisions to IAS 19 on 16 June 2011. The changes focus on three areas of pensions accounting – recognition, presentation and disclosure.As a result, from this year, DB sponsors must apply the net interest approach to disaggregate and present items of pension expense.They must also report service cost as a component of profit or loss, net interest income/expense on the total DB asset/liability, and pension plan remeasurements as a component of other comprehensive income.But new doubts over the wording in paragraph 85 of IAS 19 have brought into question the basis on which companies should calculate the net interest income/expense line item.Until now, the mainstream understanding has been that sponsors will calculate the net interest cost/credit by multiplying the balance sheet liability/asset by the discount rate.In its November client briefing, Mercer notes that, although this “simplified approach” is one possible interpretation of the standard, another is to use “a full-yield curve valuation using market-implied discount rates for each individual future year.”The impact of any change in the net interest calculation under current market conditions could lead to a substantial reduction in a DB sponsor’s P&L charge.“While the yield curve is upward sloping,” Mercer said, “a yield curve valuation may also lead to a lower service cost as it will use, on average, the higher discount rates at the longer end of the curve.”On the current shape of the yield curve, any entity adopting the alternative approach could expect to use a one-year forward rate running at less than 1%, with typical discount rates of around 4.5%.The approach is not, however, without its opponents.Simon Robinson, an employee benefits consultant with Aon Hewitt, told IPE: “IAS19 is quite vague in this respect, which is why some people are interpreting it as allowing this approach.”Robinson, who also chairs the Association of Consulting Actuaries’ Accounting Committee, added: “Looking at paragraph 85, it says the discount rate should reflect the timing of the projected benefit payments, but then goes on to say a practical approach is to use a single weighted average discount rate.“So it appears to suggest that the theoretically correct approach is to use more than one discount rate, but a practical expedient is to use a single discount rate.”Early signals suggest any DB sponsor planning to adopt the new approach could run into opposition from their auditors.Audit sources close to the issue, who spoke to IPE on condition of anonymity, signalled a lack of support for the idea among auditors.Securities regulators have also put pensions accounting under the enforcement spotlight.A spokesman at the European Securities and Markets Authority told IPE that, although enforcers have not yet addressed the specific question of yield curve valuations, “employee benefits are included as part of European Common Enforcement Priorities for 2013 year-end”. Mercer has raised a question mark over the calculation of net interest costs on defined benefit pension funds under International Accounting Standard 19 (IAS 19), Employee Benefits.In an online update to clients, the consultancy said it might be appropriate in some circumstances for DB sponsors to calculate their profit or loss charge on the basis of a one-year forward rate in place of the more traditional approach of using the IAS 19 discount rate.In current market conditions, a company showing a deficit on its DB fund could expect to reach a better P&L result were it to make the switch.Deborah Cooper, a partner with Mercer’s UK retirement resource group, told IPE: “On the one hand, this is a legitimate reading of the standard, but, on the other, practice is entrenched, and there is a lot of inertia against any change.last_img read more

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Slow start by offense costs Syracuse in 42-29 loss to Southern California

first_img Published on September 9, 2012 at 12:04 am Contact Chris: cjiseman@syr.edu | @chris_iseman Related Stories DOWNPOUR: Syracuse fails to contain USC playmakers in 42-29 loss at MetLife StadiumGallery: Southern California 42, Syracuse 29Storify: Southern California 42, Syracuse 29 EAST RUTHERFORD, N.J. – Jeremiah Kobena chuckled when he thought back to the play he didn’t make in the remaining seconds of the first half.Syracuse had a first-and-10 on Southern California’s 20-yard line, and quarterback Ryan Nassib lofted him a pass as he crossed into the end zone. The ball hit Kobena, but Trojans defensive back D.J. Morgan batted down the arching pass. Instead of its first touchdown of the game, the Orange had to settle for a field goal.“I know I should’ve made a play on that ball,” Kobena said. “It wasn’t necessarily miscommunicated; the rule is: if the ball’s in the air, it’s mine.”It was a miscue that reflected Syracuse’s first-half offensive struggles that precluded the team from delivering an early punch to No. 2 Southern California. The Orange (0-2) stuck with the Trojans (2-0) for three quarters, but the team couldn’t overcome the offense’s slow start in a 42-29 loss at MetLife Stadium on Saturday night.When it was over, Syracuse had a four-hour trip home to consider how the early interceptions, dropped passes and inconsistency on offense derailed its upset bid.AdvertisementThis is placeholder text“We’ve got to start faster. You could sit there and say it was another great performance, it was great this and that, but that’s coming in the second half,” offensive coordinator Nathaniel Hackett said. “We’ve got to do that right out of the gate, and I think that’s the biggest thing now is, ‘let’s just go.’”Hackett said there wasn’t an extra emphasis on scoring early because the opponent was USC. That’s simply part of the game plan, regardless of who’s on the other sideline. But against the Trojans, a team that would capitalize on any mistake, it could have changed the game.Especially on a day when USC was sluggish early.On Syracuse’s third play of the game, Trojans linebacker Dion Bailey intercepted a Nassib pass. Then, on the second play of the Orange’s next drive, wide receiver Marcus Sales had a pass slip right through his hands.Syracuse’s ensuing possession ended with a three-and-out after wide receiver Jarrod West missed a catch. The miscues saw Syracuse finish the first half with just three points from a field goal by kicker Ross Krautman.The Orange had the chance to make a statement early, but went into halftime trailing by 11.“There were some situations out there you just wish, ‘Golly, you just make one play here or there, it could really change it,’” SU head coach Doug Marrone said. “We felt we were in it. We were in this football game.”Through two weeks, Hackett said the inconsistency of his offense has been a recurring problem.Hackett called them “mishaps.” He said Nassib played a great game, but he made some mistakes. As did Sales and the SU running backs. The mishaps built up, the hole got deeper and the Orange suffered its second loss of the season.In the bowels of the stadium after the game, Hackett could only shake his head when he thought back to the first half. Southern California piled up 102 more yards of total offense and held the ball for nearly twice as long.“We just got off to a slow start, and what we needed to do is just come together, and just get a good drive going,” Kobena said. “And you see how that worked out for us in the second half.”After a long halftime due to a weather delay, the Orange offense ran more efficiently. A well-balanced attack moved the chains, with touchdowns by Sales and running back Prince-Tyson Gulley cutting the deficit to a mere five points heading into the fourth quarter.USC answered with two quick touchdowns to put the game out of reach, but the Orange tacked on two more scores in the final period. Sales hauled in another touchdown and Nassib finished a 19-play, 70-yard drive with a 1-yard touchdown run late to make it 42-29.All told, Syracuse scored 26 second-half points compared to a measly three before the half.The SU offense found a brief rhythm, but the slow start doomed the team in another loss. If inconsistency hadn’t plagued his unit again, Hackett said he could see a different scene playing out on the field.The Orange fell by 13 points, but it could’ve been closer.Said Hackett: “I’d love to play this team again.” Commentscenter_img Facebook Twitter Google+last_img read more

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