Minister inaugurates S. Java double track rail for partial service

first_imgTransportation Minister Budi Karya Sumadi inaugurated the southern Java double track railway network on Thursday for partial service. The network seeks to boost connectivity between Cirebon, West Java, and Surabaya, East Java.Some 550 kilometers of the railway network, connecting Cirebon and Jombang, East Java, are ready to use. The ministry aims to finish building the remaining part of the track, about 65 km connecting Jombang and Wonokromo, East Java, in the next two years, according to the minister.“With the completion of the southern Java double track railway, we will connect three big city agglomerations, namely Greater Jakarta, Joglosemar [Yogyakarta, Surakarta and Semerang] and Gerbangkertosusila [the Surabaya Metropolitan area],” Minister Budi said in a statement during the soft launch of the segment of rail. He added that the double track rail network, whose construction began in 2015, would boost people’s mobility and the distribution of goods on the island. It is also expected bring more tourists to Borobudur Temple in Central Java, which is one of the government’s “super-priority” tourist destinations.“It’s crucial for Borobudur to be connected with the railway system. Therefore, I’ve pushed for the Borobudur rail track project to be completed on time and be integrated with the Southern Java rail track project,” he said.The minister added that the Southern Java double track project was funded through Sharia sovereign bonds (SBSN) on multiyear contracts, amid the shortage in the state budget for infrastructure development.The National Development Planning Agency (Bappenas) has estimated that the country will need $429.7 billion in infrastructure investment, equal to 6.1 percent of its annual GDP, between 2020 and 2024. However, the government may only be able to finance 30 percent of the spending with the state budget.Read also: RI must reduce risk to attract infrastructure investment amid: IAHouse of Representatives Commission V agreed in September to provide the ministry a Rp 45.6 trillion (US$3.1 billion) budget for 2021, a Rp 4.31 trillion increase from this year’s budget. Of the total budget, infrastructure development has received the largest allocation, at Rp 33.95 trillion, according to a ministry statement. Topics :last_img read more

Chart of the Week: 2018’s most popular asset classes

first_imgUS and UK public pension funds allocated to 52% more mandates in 2018 than in the previous year, according to data from eVestment.The most popular asset class for the second year running was private equity, with 954 new mandates awarded – 27% of the total. In 2017, private equity mandates accounted for 25% of all new allocations monitored by eVestment.Public sector funds awarded 722 new listed equity mandates last year, up from 503 in 2017. Direct real estate allocations were the third most popular in both years.In the UK, public sector allocations have been driven primarily by the ongoing pooling of assets among funds in the Local Government Pension Scheme system. eVestment said the increased appetite for private equity among public sector investors could help improve transparency of costs and portfolios to levels that “may be new to many of these managers”.“Public pensions have a variety of stakeholders to whom they are accountable when making investments,” said John Molesphini, eVestment’s global director of insights.“As a result, private markets and other alternative managers looking to win public plan assets increasingly need to comply with transparency and disclosure standards they may be less familiar with to win these mandates.” New mandates in 2018New mandates by asset class (2018)Chart MakerNew mandates in 2017New mandates by asset class (2017)Chart MakerThe popularity of private equity has caused a huge build up of unspent cash, or ‘dry powder’.According to data firm Preqin, this sector accounted for more than half (58%) of the more than $2.1trn (€1.8trn) of dry powder available across private market asset classes at the end of June 2018.last_img read more

UW opens inagural B1G hockey conference with border battle at Minnesota

first_imgBig Ten hockey has arrived, at least Minnesota has, as the Wisconsin men’s hockey team travels to take on the No. 1 Gophers in a border battle that will inaugurate the new conference for both teams.With the new conference and facing off against the top team in the nation setting the stage, the stakes heading into the Friday-Saturday series could not be higher for the Badgers (4-3-1, 0-0 Big Ten).Yet for University of Wisconsin, they are simply happy to be getting back on the ice.“We’re excited to get back playing. The fact that we’re going into Minnesota and they’re ranked where they are, our kids will be excited,” head coach Mike Eaves said in a press conference Monday. “It’s an opportunity to bang the drum a little bit and make some noise by going in there and playing well, see what we can do.”The Badgers will enter Mariucci Arena coming off a bye week, the team’s third week off in the last five weeks, having played just eight games to Minnesota’s 12 games played so far this season.It is a challenge to keep the veteran squad focused and working hard despite having such little game-time minutes, Eaves said the team has found ways to make practice interesting, incorporating new drills and new techniques, as well as simulating game-like scenarios.“It is a challenge. It’s been kind of a fun one. I think, what it does, it gets us outside of our normal box. We’ve been creative,” Eaves said. “I think we’ve learned some new techniques and training things and drills that have kept our guys’ interest piqued, but at the same time, trying to keep them as close to game ready as we can.”While the Badgers will be coming in well-rested, the Gophers head into the series after splitting a pair of games last weekend with Minnesota-Duluth. Following a decisive 6-1 victory in game one over the Bulldogs, the Gophers went on to drop the second game 6-2, crushing the team’s 10-game unbeaten streak at home after giving up three UMD goals in the opening period.Boasting the second-best offense in the nation, averaging more than four goal-per-game, Minnesota will be a challenge to contain for the Badger defense and goaltending pair of juniors Joel Rumpel and Landon Peterson. Junior Gopher forward Sam Warning leads the way on the attack with a team-high 19 points off five goals and 14 assists, putting him in third on the nation’s assists scoreboard. With goal scoring split across the lines for UM, Wisconsin will need to be firing on all cylinders to contain the explosive offense.Yet the meeting will be no easy task for Minnesota, as the rivalry never sees a dull match, as the Badgers boast a team full of depth and experience. While forward Nic Kerdiles saw his 18-game point streak dating back to last season snapped against Miami two weeks ago, the sophomore continues to be one of the most consistent Badgers on the ice with four goals and four assists on the year. Kerdiles sits tied with three other Badgers with eight points on the year, only to be topped by senior forward Michael Mersch with nine points.The last time the two teams faced off was at the Hockey City Classic hosted at Soldier Field in Chicago last season. After a 3-2 victory for Minnesota in game one at the Kohl Center, the Badgers scored three goals in three minutes and 19 seconds in the second period in the frigid outdoors to lead the team to a 3-2 win over a then-ranked No. 2 Gopher squad.last_img read more

DONEGAL BUILDER GAVE €129,000 TO FIANNA FAIL

first_imgDonegal builder Pat Doherty’s Harcourt Developments, which built the Park West business campus in Dublin and is behind the Titanic Quarter project in Belfast, made substantial donations to Fianna Fail, it is reported today.Harcourt Developments, and its subsidiary Airscape, gave €129,000 to Fianna Fail and €44,900 to the PDs, the Irish Independent reports.Further reading here: http://www.independent.ie/national-news/ff-had-biggest-party-as-boom-builders-handed-over-300000-3021703.htmlThe man who is now leading the party’s fundraising drive – mostly from small donations from private individuals – is  Darragh McShea, 26, from Ballyshannon. DONEGAL BUILDER GAVE €129,000 TO FIANNA FAIL was last modified: February 16th, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more