May 12

Volvo to save £7.5m with online induction scheme

first_imgRelated posts:No related photos. Volvo to save £7.5m with online induction schemeOn 3 Sep 2002 in Personnel Today Previous Article Next Article Comments are closed. Swedishcar giant Volvo is hoping a new e-based induction scheme can improve theconsistency of its training and save around £7.5m over the next five years.Thecompany expects to reduce the cost of training inductions by 90 per centthrough the increased efficiency provided by the online system. Theproject will also deliver increased harmonisation around the globe by providingan identical induction process for Volvo’s 57,000 worldwide staff. Itwill be delivered in several European languages, and used as a learning tool byall staff in more than 100 countries.Underthe programme, developed by Line Communications, the firm will monitor itscorporate induction training to ensure it is effective and relevant.Vice-presidentof people and competence development at Volvo, Lisskulla Lindstrom, said thesystem allows staff joining the company to get an immediate induction, whichdrives motivation and performance.”Aconsistent global induction for all our employees will help us develop andmaintain a strong corporate culture and provide financial savings,” shesaid.Theprogramme uses a range of multi-media features to provide an engaging learningexperience, said Lindstrom. She hopes it will develop an integrated trainingculture. “This project represents our ongoing commitment to employees byproviding focused, high-quality training material,” she added.www.volvocars.comByRoss Wighamlast_img read more

May 9

Is current management of the Antarctic krill fishery in the Atlantic sector of the Southern Ocean precautionary?

first_imgThis paper explains the management of the Antarctic krill (Euphausia superba) fishery in the Atlantic sector of the Southern Ocean, and current knowledge about the state of the regional krill stock. In this region, krill fishing is permitted in an area of approximately 3.5 million km2 which is divided into four subareas (labelled Subareas 48.1 to 48.4) for management and reporting purposes. The effective regional catch limit (or ‘trigger level’), established in 1991, is 0.62 million tonnes year–1, equivalent to ~1% of the regional biomass estimated in 2000. Each subarea has also had its own catch limit, between 0.093 and 0.279 million tonnes year–1, since 2009. There is some evidence for a decline in the abundance of krill in the 1980s, but no evidence of a further decline in recent decades. Local-scale monitoring programs have been established in three of the subareas to monitor krill biomass in survey grids covering between 10 000 and 125 000 km2. Cautious extrapolation from these local monitoring programs provides conservative estimates of the regional biomass in recent years. This suggests that fishing at the trigger level would be equivalent to a long-term exploitation rate (annual catch divided by biomass) of <7%, which is below the 9.3% level considered appropriate to maintain the krill stock and support krill predators.Subarea catch limits exceed 9.3% of conservatively estimated subarea biomass in upto 20% of years due to high variability in krill biomass indices. The actual exploitationrate in each subarea has remained <3% because annual catches have been <50% of thetrigger level since 1991. Comparison with the 9.3% reference exploitation rate suggeststhat current management is precautionary at the regional scale. The subarea catch limitshelp prevent excessive concentration of catch at the subarea scale. Finer-scale managementmight be necessary to manage the risk of adverse impacts which might occur as aresult of concentrated fishing in sensitive areas or climate change. Frequent assessmentof the krill stock will enhance CCAMLR’s ability to manage these risks. Continuing thelocal monitoring programs will provide valuable information on krill variability, but moreinformation is required on how the monitored biomass relates to biomass at the subareaand regional scales.last_img read more

May 4

France: Thales Sonars Pass Qualification Sea Trials for FREMM Frigate Programme

first_img View post tag: News by topic Training & Education France: Thales Sonars Pass Qualification Sea Trials for FREMM Frigate Programme View post tag: sea View post tag: trials View post tag: Qualification View post tag: Pass View post tag: Sonars October 26, 2012 View post tag: Navycenter_img View post tag: Thales View post tag: programme View post tag: Frigate The official qualification trials of the sonars for the FREMM frigate programme took place over a six-week period in June and July 2012 on the FREMM frigate Aquitaine in the Bay of Biscay. The successful trials are the culmination of nine months of testing with the UMS 4110 CL bow-mounted sonar and CAPTAS 4249 towed-array sonar, which have now achieved Level 1 at-sea qualification.The qualification trials covered the active, passive and obstacle-avoidance functions of the sonars and were conducted for DCNS, the European armaments procurement agency OCCAR, the French Defence Procurement Agency (DGA, Direction générale de l’armement) and the French Navy.The Thales sonars demonstrated unparalleled levels of performance, including very long-range anti-submarine detection and simultaneous anti-torpedo defence capabilities.The CAPTAS 4249 sonar is based on very low-frequency passive and active arrays to provide operators with an exceptional reach on silent targets. It is equipped with a quick deployment system for lowering it into the water. Its long-range detection capability will allow FREMM frigates to maintain a tactical advantage over submarines. Thales has more than 20 years’ experience in this field and is the world leader in very low-frequency variable-depth sonars. CAPTAS is the only active low-frequency variable-depth sonar in service with NATO forces and other leading navies around the world.The UMS 4110 CL is a long-range sonar for offensive anti-submarine operations and frigate self-defence. This hull-mounted sonar is designed for multi-mode operation and can operate simultaneously in active surveillance mode for anti-submarine warfare and obstacle avoidance, as well as in passive mode for listening only or for tracking torpedoes. This system incorporates the very latest underwater acoustic technologies, giving FREMM frigates cutting-edge detection capabilities to counter a broad range of threat profiles in all environments.“We are extremely satisfied with the results of these qualification trials,” said Benoit Plantier, CEO of Thales Underwater Systems. “The Thales sonars met all expectations in terms of their performance and are now fully qualified in line with the programme delivery schedules. This success further demonstrates the remarkable capabilities of our systems as well as our ability to satisfy our customers.”FREMM frigates are built under DCNS prime contractorship. They are among the most technologically advanced and competitively priced vessels on the world market. These heavily armed warships carry state-of-the-art weapons and systems including the Herakles multifunction radar, Aster anti-air missiles, Exocet MM40 anti-ship missiles and MU90 torpedoes.Thales is a global leader in underwater acoustics. With their unparalleled detection range, these latest-generation sonars give the FREMM frigates a critical anti-submarine warfare capability and a significant advantage in today’s increasingly diverse threat environment.[mappress]Naval Today Staff,October 26, 2012; Image: Thales View post tag: FREMM View post tag: Naval Back to overview,Home naval-today France: Thales Sonars Pass Qualification Sea Trials for FREMM Frigate Programme Share this articlelast_img read more

April 21

Reporting in

first_img== Nick Harris == Managing director, BFP WholesaleFollowing on from the welcome news that the National Association of Master Bakers (NA) has created an action group to promote the craft baking industry, are there lessons to be learnt from how large companies address their marketing?Household budgets are tighter than for many years, so the supermarkets have entered another price war, grabbing the headlines with some incredible discounts. Should the independent craft baker follow the prices down and, if not, what can they do? One strategy is to promote the heritage and provenance of the branded product, highlighting quality and tradition.Many of our independent craft bakery customers use promotions that we and our competitors run, but does this really help? Surely the real challenge for this sector is to encourage more people into the shops, who will then spend as much as they can afford during their visit.The recently launched NA action group has an objective to remind people that the independent baker has an important commercial and social role in the community and also to inspire the baker to maximise their involvement in this local position.So why not a marketing campaign for all the independent bakeries, highlighting the quality, tradition and convenience of your local master baker? Could the two craft bakery trade organisations and the ingredients’ trade body not work together on a national campaign to promote the sector as a whole? Suppliers would surely support this initiative, so why can’t the independent bakeries have their own national Offer of the Month, highlighting the positive messages as to why this sector is so important?last_img read more

March 2

EXCLUSIVE: Maddy O’Neal Talks Personal Growth, Getting Big, And Girl Power

first_imgMaddy O’Neal is a name that we’ve been hearing a lot in recent months. The former member of Krooked Drivers has been making a name for herself as a solo artist at huge events this year including Summer Camp, Sonic Bloom, Camp Bisco, Pretty Lights’ recently announced Washington festival at the Gorge Amphitheater, and at Colorado’s Red Rocks as support for Big Gigantic. Not too shabby for an artist who took the plunge and went solo a little over a year ago. The producer and DJ is clearly bound for big things, gaining notoriety nationwide for her effortless style that synthesizes tastes of rock, funk, blues, indie, hip-hop, and more into her fiercely creative, genre-bending and bass-driven electronic tracks. To kick off the summer, Maddy O’Neal has just embarked on a tour with fellow Coloradans SunSquabi, and the two acts are set up to show cities across the Northeast and Midwest just how Colorado gets down.Ahead of her performance at American Beauty in New York City with SunSquabi and Late Night Radio this Saturday (tickets available here), O’Neal was kind enough to take a few moments and give us the low-down on what she’s getting into these days. You can check out her website here for upcoming tour dates and our interview with the pioneering producer below, along with her recently released track “Nunya” featuring Megan Hamilton who co-produced the track and is featured on vocals. L4LM: Thanks for taking the time to speak with us! I know you’re on tour right now, so where are you now and what are you getting into?Maddy O’Neal: Thanks for hitting me up! I appreciate the interest! I just flew into Atlanta yesterday to meet up with the SunSquabi boys because they just finished playing Sweetwater Festival. We are currently in the van heading up east, on our way to Richmond, where the run kicks off this Wednesday at The Broadberry. Super excited because these are mostly all new markets for me!L4LM: With this tour with SunSquabi you’re currently kicking off, they’re also favorites from Colorado. How did that come together and what’s it been like living in Denver and working with other Colorado-based artists?Maddy O’Neal: I’ve known these guys for a while now; I met them in Boulder actually like six years ago or so when I was first starting out producing. We’ve become super close over the years and played a bunch of shows together. That’s one of the coolest parts about living in Colorado and the scene out there is that a lot of the musicians are friends and collaborate and support one another. It really creates this super unique bond that’s unlike anywhere else I’ve been. I did a run with them this winter that went really well, and I am super stoked they invited me back for this run. We’re a good team.L4LM: You used to be with Krooked Drivers but recently went solo. How has that transition been treating you?Maddy O’Neal: yes, I was with Krooked drivers for about six years, and a little over a year ago decided to go solo. Really was just looking for a change and wanted to challenge myself. A lot had happened in my life during that time period too, and I just kinda felt that urge for a new beginning. At first it was definitely scary—walking away from something I had put six years of my life building and essentially starting over—but it pushed me in a great way, in ways I couldn’t even have imagined. I always say the biggest thing I’ve learned is that in order to grow you have to take yourself out of your comfort zone. I faced a lot of fears I had by doing that. And, I am so unbelievably grateful for all the support I’ve had on this new solo journey as well.L4LM: Kind of going off that, how do you feel like your sound been evolving and what’s been influencing those changes?Maddy O’Neal: As with any artist, your sound and style continues to develop and evolve over time. For my first album, I really focused on letting things happen naturally, not forcing anything and really letting my inspiration kind of take hold organically—I had a lot of emotion to work with on that one. I’ve also been trying to listen to a ton of different styles of music that I wouldn’t normally necessarily listen to. The coolest part about the style of music I make is that it is so versatile and genre defying. I can really take it in any direction I want to, so I’ve been experimenting a lot with different styles and techniques within producing to carve out my own sound within it. I know that sounds vague [laughs] but  it’s much easier to hear than describe.L4LM: Can you also talk a little bit about your experiences as a female artist and what it’s like not just holding your own but crushing in a mostly male-dominated scene?Maddy O’Neal: It is definitely an interesting role to fill. I think the coolest part about it is that I get to be a role model in a sense and try to help empower women to get into the scene or just in general. I was raised by a very feminist mother, and I think it’s really cool that I can not only do what I love and share my music with people on that scale but that it also feels like it’s attached to something bigger—in empowering other females by being a force against the stereotype so to speak. Most times, I don’t even really think about the fact that I am such a rarity in the industry because I try to think of myself on the same level as everyone else regardless of gender.L4LM: I feel like we’ve been seeing your name everywhere over the past few months, with big appearances at Summer Camp, Sonic Bloom, Camp Bisco, Red Rocks, and the recently announced Pretty Lights festival at the Gorge. How does it feel to sharing the bill with these huge acts and to see your own name slowly moving higher up these lineups?Maddy O’Neal: This year has been unbelievable. Sometimes seeing my name on those bills doesn’t even feel real. I am so so grateful for all of the support I’ve had, it’s pretty unreal. I really just have to force myself to slow down sometimes and take it all in. It’s hard to turn my brain off sometimes though ’cause with all of these newer and bigger experiences, I just want to keep pushing myself. I gain so much inspiration from it, to improve and continue to push myself artistically on a live-performance level.L4LM: Speaking of which, what acts are you most excited to catch this summer?Maddy O’Neal: There are so many acts on these festivals I hope to be able to catch while I’m out there—one in particular I’ve heard amazing things about is Anderson .Paak, definitely on my list. It’s also really cool to see all of my friends play and how they’ve evolved their live performances. These festivals have just become such a family environment that keeps on growing, which is really really cool.L4LM: Alright, I’ll try to keep things short and sweet, so I’ll end with this. You’ve got a show coming up this Friday at American Beauty in NYC with SunSquabi and Late Night Radio; what should people expect from your set?Maddy O’Neal: I am super excited for that one! I haven’t been to NYC since I was like 13, so I’m feeling pretty giddy in general. But I just finished up a new EP that I’m pretty excited about, so definitely expect to hear a bunch of those new tunes worked into my set. I’m having a blast playing those out live mixed in with some oldies and a couple recent releases, like my collaboration with Megan Hamilton “Nunya” has been one of my favorites to play lately. It’s a sassy funky twist on Salt-N-Pepa’s “None Of Your Business.” It was such a fun track to do especially as the two of us being the rare female producers—it was kind of our girl power anthem.L4LM: Thank you for your time, and looking forward to checking out your show on Friday!Maddy O’Neal: Thank you guys so much for taking the time as well! See you guys this weekend!last_img read more

March 2

Brandon “Taz” Niederauer Scores Original Music For New Versace Campaign

first_imgBrandon “Taz” Niederauer has had the brilliant experiences of playing with members of the Allman Brothers Band including Gregg Allman, Butch Trucks, Warren Haynes, Derek Trucks, and Oteil Burbridge, as well as other notable musicians such as Buddy Guy, Stevie Nicks, Lady Gaga, Slash, Jon Batiste, Dweezil Zappa, Eric Gales, George Clinton & Parliament Funkadelic, Dr. John, Otis Taylor, Gary Clark Jr., Col. Bruce Hampton, Eric Krasno, George Porter Jr., Robert Randolph, Karl Denson, Doug Wimbish, John Popper and countless others. He has also played with Umphrey’s McGee, Scorpions, Dumpsaphunk, The Revivalists, Galactic, and so many more. Keep an eye on this kid! In addition to his enormous roster of musical collaborations, Brandon “Taz” Niederauer is no stranger to the fashion world. Having already appeared in several fashion magazines by the age of fourteen, the guitar kid has even participated in a Lady Gaga fashion video, directed by famed photographer Bruce Weber. Weber, known for his work in ad campaigns for Calvin Klein, Ralph Lauren, Revlon, and Gianni Versace, as well as his work for Vogue, GQ, Vanity Fair, and Rolling Stone magazines, was so impressed with the Brandon’s style–and music–that he tapped Niederauer for a current campaign with Versace.Brandon “Taz” Niederauer Pens Tribute To His Mentor Gregg AllmanNiederauer wrote and recorded the new Versace campaign using his guitar and Pro Tools. “I am so honored to have even gotten the chance,” he tells Live For Live Music. “Things like this don’t happen to everyone. This was a once in a lifetime thing that I am beyond grateful for.” The first clip from the new Versace campaign is below. More extended videos to come. Check it out!last_img read more

March 1

Crime, fear, and loathing

first_imgJean and John Comaroff, professors in the Department of African and African American Studies and Department of Anthropology, and faculty associates of the Weatherhead Center for International Affairs, divide their teaching and research between Harvard and universities in South Africa. A recent joint effort, “The Truth about Crime,” analyzes why societies become obsessed with crime. The Weatherhead Center spoke to them at their home in Cape Town about these findings and their book. WEATHERHEAD CENTER: You say the white elites in South Africa have the highest anxiety about crime, yet they experience the fewest incidents. What accounts for the disconnect?JEAN COMAROFF: They are used to controlling their worlds. So, if they suffer a domestic robbery or a carjacking, it feels momentous, life-threatening — which it sometimes is, although less often than South African whites believe — because life is meant to be safe for people like them. Or so they assume. They buy insurance. They live in well-protected homes. They believe that the state ought to protect them. Those who live on the South Side of Chicago or in black townships — or, for that matter, in U.S. inner cities — are not in control of their worlds in the same way. And do not have the same expectations.WEATHERHEAD CENTER: Do you both feel safe living in Cape Town?JEAN: We feel no less safe living in Cape Town than we did when we lived on the South Side of Chicago, where affluent and deprived communities live in close proximity. In both, crime rates vary enormously across the urban scape. If one knows the social geography and crime maps of the city in which one lives — and one has the means, the capital — one can avoid dangerous areas to a significant degree.WEATHERHEAD CENTER: Is disproportionate fear of crime a global phenomenon?JOHN COMAROFF: Rising fears of crime appear to be popping up all over the world, including in unexpected places. If you read Swedish newspapers, people are panicking about immigrants and lawlessness, even though their actual rates are minuscule. In Singapore there are street signs saying “Low crime is not no crime.” Why in Singapore, of all places? In many parts of the world, moral panics about crime correlate very closely with the shrinkage of the welfare state. But very little public discussion attends to this fact. In the United States, it would be regarded as “too ideological,” even “socialist,” to raise the possibility.WEATHERHEAD CENTER: You point to a loss of trust in government, or the state, to protect people and enforce the law. Can you describe the structural changes that may underlie this crisis of trust?JEAN: Many people from Africa who come to the United States say the first thing they notice is the profound mistrust in government, as if the state is there to rob you, to spy on you, to extract your secrets.We argue in our book that ultimately this is due to the ways in which the relationship among the state, the private sector, and policing has changed. Since many of the classical functions of government, including warfare and enforcement, are now outsourced, we can never really be sure who actually is drawing that line between the law and its transgression, between good and ill, or with what intent: for their own profit or for the interests of those they claim to be serving.WEATHERHEAD CENTER: As you illustrate, corrosion of trust stems from not knowing if your government is good or bad, if law enforcement is on your side or working for some other interest. How has this ambiguity toward the state been reflected in our popular art forms?JEAN: The content of crime television shows has changed a lot sociologically. For a long time our predominant model was the “positive” detective, a “goodie,” who, even if he had to break the law to catch his criminal adversary, even if he was a maverick, managed to solve the puzzle and put the world to rights. That’s why it is often argued that crime fiction is on the side of state power and social order. What has shifted recently is the proportion of shows in which it’s not so clear who is on which side. Or where the line actually is.Think about the popularity in the United States of “The Sopranos” and “Breaking Bad,” TV dramas that do not allow us to draw a clear distinction between the criminal and legitimate. Who are the criminals? Are they the cops? How do we differentiate in “Breaking Bad” between the drug manufacturer Walter White and his police officer brother-in-law? Who’s paying for whose medical care? The officer’s wife is a kleptomaniac, but her husband does not treat her thefts as crime.JOHN: And in these stories, we don’t trust the state to solve the problem. The guy who is supposed to be the law is often now himself in the game.Professors John and Jean Comaroff divide their time between Harvard and universities in South Africa. “We feel no less safe living in Cape Town than we did when we lived on the South Side of Chicago,” said Jean Comaroff. Photo courtesy of the ComaroffsWEATHERHEAD CENTER: So, popular art is acting like a mirror on our modern anxieties about the state?JOHN: Yes. Think about the [Whitey] Bulger trial in Boston. Once it started to play out it wasn’t clear whether he or the FBI was on trial; the feds had allowed this man to operate in the interest of getting at the local mafia. Meanwhile, everybody was on the take, including, allegedly, Bulger’s brother, a long-time state senate president.WEATHERHEAD CENTER: In the United States, we have seen a pattern of homicides of unarmed black men by police. Does your research help us to understand the culture of fear of one another?JOHN: Cops are terrified of black men, and black men are terrified of cops. These are two worlds each reading the other as intensely and universally hostile. Part of the problem is that neither side can, in effect, read the other; they cannot tell apart those of whom they might be legitimately afraid and those who are essentially benign. For both, the signs are largely unreadable.JEAN: We live in a profoundly divided social world, one that “reads” race very quickly, but does not read class terribly well. If cops coming across a black youth on the South Side of Chicago could read the signs that signal “middle-class kid” or “propertied family,” they would probably leave that kid alone. But they can’t. British cops had a similar crisis back when we were teaching there. Black students would tell us that police who saw them carrying a briefcase or a computer simply assumed that they had stolen it. We are, in short, a society very poor at social reading — and one in which it is widely believed that crime lurks everywhere.Racism goes in every direction in our world. In its most innocent form, it arises from the inability to read social signs — and the fears that follow from not knowing how to read them.This interview was edited for clarity and length. To read the full story, visit the Weatherhead Center for International Affairs website.last_img read more

December 18

Soledad O’Brien: Reporting Across Racial Lines

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Long Island native Soledad O’Brien is used to bridging the gaps between people, races and cultures.Her pleasant, inquiring demeanor, epitomized by her inviting smile and her sharp mind, has made her a popular cable TV journalist and anchorwoman—and a fierce pursuer of the truth.After more than a decade at CNN she left early this year when the company’s new president, Jeff Zucker, decided to end her morning show, Starting Point. Then she turned up this summer as a contributor to Bryant Gumbel’s Real Sports series on HBO, and she has other projects in the works through her production company Starfish Media. In fact, CNN just aired her documentary, “Great Expectations: A Black in America Special.” Perhaps the most surprising move is her recently announced affiliation with Al Jazeera America, the inaugural cable news channel, available so far on Long Island through Verizon.Her suburban upbringing is far more complicated than most viewers might think. The daughter of two immigrants, she was born in St. James and raised with her five siblings in Smithtown.Her mother, Estela Lucrecia Maruetti y Mendieta, had left Havana, Cuba, in 1947. She later met Soledad’s father, Edward Ephram O’Brien, who was from Toowoomba, Australia, when they were both students at Johns Hopkins University in Baltimore, Md. After they were married in Washington, D.C., her dad got a job teaching fluid mechanics at the State University of New York at Stony Brook and her mom eventually taught French and English at Smithtown High School West.“We grew up among well-educated white kids, with a nice home and good schools, and pursued a life that seemed limitless,” she recalled in her book, Latino in America, written with Rose Marie Arce, which came out as a companion piece to a CNN special documentary Soledad anchored in 2009. “My parents hoped that the fact that one of them was white and the other black would not define us.”But it clearly did, as Soledad found out the hard way. When she was 13-year-old girl in middle school, other kids would stop her in the hallway and ask her: “If  you’re a n—–, why don’t you have big lips?” Others would query her: “Why is your name so weird?” Yet she mostly ignored them and pursued her studies.“We had plenty of time to study since we didn’t exactly connect with our neighbors, who were mostly white, Jewish, Irish and Italian. It was clear to me I wouldn’t ever date as long as I stayed in Long Island. First of all, my parents would never allow it, and, truth be told, there were no potential suitors. I was also brainy, and that didn’t help.”She went to Harvard, as did her three sisters and two brothers. As Soledad put it, “This ragtag, multi-racial gang from Smithtown did all right.”And that’s the truth.last_img read more

December 17

Is your core open? 3 questions to ask

first_img 125SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John San Filippo John is the co-founder of OmniChannel Communications, Inc., a company that specializes in B2B marketing to community financial institutions. He started out in the savings and loan industry, but wisely … Web: Details Open core systems – systems into which you can integrate, or at least interface, various third-party software packages – have been a thing for decades. And yet, the definition of an open system is … well … still open to interpretation.Every core provider out there will claim to offer an open system. To a certain extent, it’s true, too. With enough brute force and a big enough hammer, you really can jam a square peg into a round hole. Of course, the ill-fitting result won’t necessarily produce the experience your employees or your members deserve.There are a number of larger core processors whose income models are based on selling you core, and then selling you a wide range of ancillary products. These providers are forced to offer open systems. That’s because without an ostensibly open system, they wouldn’t be able to integrate their other products, which are more often than not the result of acquisition rather than true innovation.Typically, to “encourage” your credit union to buy their product, instead of a third-party product that may be better and just as easily integrated, these core providers will charge an exorbitant “integration fee.” In the core processing business, integration fee is shorthand for “we’re going to make this so cost-prohibitive it won’t make financial sense to buy anyone else’s products.” These companies would rather play financial shenanigans than compete on a level playing field.Then there are systems that are open only because their manufacturers have created a layer of middleware to serve as a bridge between their potentially dated technology and the rest of the fintech industry. Naturally, to obtain this middleware, you have to license it from the core provider for a fee. Like the core providers in my earlier scenario, these companies won’t let you choose a third-party product without getting at least a piece of the action.Finally, at the other end of the spectrum are core providers that actually want you to succeed. They understand that each credit union should be able to make its own technology decisions in its own best interests, without being nickeled and dimed into oblivion.Such a provider offers a truly open API and doesn’t charge you anything to access it. What’s more, if you need help integrating a third-party product, they’ll provide that assistance, also without charge. That’s what I call open.How should we define an open system into today’s modern technology world? Consider these three questions:Can you integrate a third-party product without paying an exorbitant integration fee?Can you also do so without licensing expensive middleware?Finally, will your core provider actively support all of your technology decisions without trying to profit from them?If you can answer yes to these three questions, you have a truly open system.last_img read more

October 19

Government to accelerate state capital injections for SOEs

first_img“To disburse the funds, we need to be quick, but that doesn’t mean we can violate the rules of governance,” he added, explaining that the capital injection process needed to comply with the relevant government regulations (PP) and that a regulation on the disbursement of the funds was still being processed. The government plans to inject Rp 7.5 trillion into state-owned infrastructure company PT Hutama Karya, while state-owned financing firms PT Bahana Pembinaan Usaha Indonesia (Bahana) and PT Permodalan Nasional Madani will receive Rp 6 trillion and Rp 1.5 trillion, respectively. State-owned PT Indonesia Tourism Development Corporation and state asset management company PT Perusahaan Pengelola Aset will receive Rp 500 billion and Rp 5 trillion, respectively, in state capital injections.The capital injections are part of the Rp 695.2 trillion in stimulus provided by the government to strengthen Indonesia’s healthcare system and cushion the pandemic’s economic impacts. The Finance Ministry’s State Assets Directorate General (DJKN) has said it will accelerate the disbursement of Rp 20.5 trillion (US$1.4 billion) in state capital injections (PMN) for five state-owned companies. State-owned enterprises (SOEs) have an important role to play in supporting the country’s economic recovery, Meirijal Nur, the DJKN’s separated state assets director, said. The capital injection plan is a part of the government’s national economic recovery program.“We are trying to do it as fast as possible. It will be done by September at the latest”, Meirijal said during a media briefing on Friday. Meirijal expressed optimism the funds disbursed to the SOEs would eventually reach the bottom economic layer of society. Permodalan Nasional Madani, for instance, finances ultra-microenterprises through its Mekaar program that targets mostly women entrepreneurs. Aside from backing several SOEs through direct support in the form of capital injections, the government will allocate funds to Bahana, PT Asuransi Kredit Indonesia (Askrindo), PT Jaminan Kredit Indonesia (Jamkrindo) to give loan guarantee to banks and financing companies that will then provide loans to cooperatives and small and medium enterprises (SMEs). The government has also allocated funds to be channeled through the Finance Ministry’s special mission vehicles (SMVs) to several chosen SOEs. National flag carrier PT Garuda Indonesia, railway operator PT Kereta Api Indonesia and steelmaker PT Krakatau Steel will receive loans of Rp 8.5 trillion, Rp 3.5 trillion and Rp 3 trillion, respectively, through the SMVs to support their operations. The SMVs include infrastructure financing guarantee agency PT Penjaminan Infrastruktur Indonesia, infrastructure financing firm PT Sarana Multi Infrastruktur ( SMI), secondary mortgage company PT Sarana Multigriya Finansial (SMF) and Indonesia Export Financing Agency.Meanwhile, state-owned plantation company PT Perkebunan Nusantara and housing company PT Perumnas will receive Rp 4 trillion and Rp 650 billion, respectively, to manage their liquidity. “We have been very selective. We don’t give funds recklessly to SOEs,” Finance Ministry State Assets Director General Isa Rachmatarwata said during the media briefing, adding that the agency designed support schemes based on its assessment of the SOEs’ needs. “We are giving to those that have been really impacted [by the pandemic] but on the other hand, still have the capacity to accelerate the economic recovery,” Isa added.Topics :last_img read more