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​Icelandic pension funds to hold off forex till September

first_img“It is clear that this hiatus has played an important role in maintaining macroeconomic stability during the shockwave that has struck the domestic economy in recent months,” Jónsson said.Guðrún Hafsteinsdóttir, chair of the Icelandic Pension Fund Association (Landssamtök lífeyrissjóða, LL), also wrote a letter today to the lobby group’s members encouraging them to keep on with the currency buying suspension, following her meeting with Jónsson.In the statement from the central bank, Jónsson said that in the past few years, Iceland had been transformed from a capital-importing country with a sustained current account deficit to a capital exporter with a large current account surplus – a shift he said was in large part down to the growth in pension assets, which had laid entirely new foundations for the maintenance of macroeconomic stability in recent years.“This has certainly been of benefit to Iceland in the past few months,” Jónsson said.Pension funds’ foreign investments in particular were very important in the long run, both for fund members and the nation as a whole, he said.Icelandic pension funds have been focusing on re-building their exposure to foreign investment markets over the last four years after capital controls were finally lifted following their imposition in the island country’s 2008 financial collapse.The governor of the Central Bank of Iceland said today foreign assets were important in order to diversify their risk and prevent pension benefit payments from having an adverse impact on the economy in the future.“Furthermore, the pension funds’ foreign investments are necessary in order to maintain balance of payments equilibrium alongside a current account surplus, export-driven output growth, and job creation,” he said.The bank said it appreciated the social responsibility the pension funds were demonstrating during the ongoing crisis, and that its cooperative relationship with the sector had attracted attention abroad and been mentioned explicitly in statements from international credit rating agencies.“This cooperative relationship is dynamic in nature, in that it will be possible to respond quickly if conditions in the foreign exchange market change in a way that enables the pension funds to resume foreign investment and the associated foreign currency purchases,” said Jónsson.To read the digital edition of IPE’s latest magazine click here. Iceland’s pension funds are to refrain from buying foreign currency for another three months, according to a decision by the country’s central bank today, extending the arrangement which started on 17 March.Ásgeir Jónsson, governor of the Central Bank of Iceland, said: “It has now been decided to extend the hiatus by another three months, or until 17 September 2020.“With this, the pension funds have once again demonstrated their commitment to supporting stability in the foreign exchange market,” he said.The foreign exchange suspension for pension funds was originally agreed three months ago at the beginning of the COVID-19 crisis, in order to avoid adding to the downward pressure on the krona from the big fall in export revenues.last_img read more

In right place at right time, Russell tops Gordon Woolley Classic at HO’T

first_imgTyler Russell was the $1,000 feature winner when the Elite Non-Wing Sprint Car Series opened at Heart O’ Texas Speedway’s Gordon Woolley Classic. (Photo by Karen Davis)ELM MOTT, Texas (March 10) – Tyler Russell didn’t lead the most laps, just the most important one.Russell was in the right place at the right time when leader Paul White lost the handle in Friday’s opening night event for the Elite Non-Wing Sprint Car Series at Heart O’ Texas Speedway.Quick to capitalize on White’s white flag lap misfortune, Russell motored by to win HOT’s Gordon Woolley Classic feature for IMCA RaceSaver Sprint Cars and $1,000.“It was nice to have a little luck,” said Russell, who battled back and forth with Marcus Thomas while chasing White much of the first 19 circuits. “He threw some real haymakers at me. I was running low, Marcus was running high and we were going to have a good three-way race with Paul on that last lap.”A late yellow added to the drama by setting up a green, white, checkered finish. Thomas, Justin Zimmerman, Johnny Miller and Blake Edwards rounded out the top five. White recovered to finish sixth.The classic was the first race of the season for Russell, who drew the third starting spot after finishing second to three-time IMCA national champion Miller in their heat race.“I don’t run a lot of non-wing stuff but Heart O’ Texas is only about 15 minutes from my house,” said Russell, who plans to be a Saturday regular at Kennedale Speedway Park in his third season in the division. “It was really a good race and a good way to start the season.”Woolley, a Waco native, won the IMCA national championship in 1963. He died last month at the age of 94.Feature results – 1. Tyler Russell; 2. Marcus Thomas; 3. Justin Zimmerman; 4. Johnny Miller; 5. Blake Edwards; 6. Paul White; 7. Bryan Debrick; 8. Robert Vetter; 9. Richard Miller; 10. Jason Gunnels; 11. Randy Henderson; 12. Blake Moore; 13. Dustin Welch; 14. Dale Wester; 15. Chris Clark; 16. Jake Bland; 17. Sam Stockton; 18. Nathan Moore; 19. Junior Jenkins.last_img read more

The Latest: Premier League clubs yet to settle on protocols

first_img___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports May 6, 2020 ___German soccer could be cleared to resume when Chancellor Angela Merkel meets with the governors of the country’s 16 states.The dpa news agency reports that May 15 and 22 are being considered by the federal government as start dates for the Bundesliga.The league has introduced blanket coronavirus testing at clubs and is eager to finish the season by the end of June. That is when some player contracts expire.The push to resume has faced a backlash. There have been at least 11 positive tests of players and staff since testing began last week and Hertha Berlin forward Salomon Kalou was suspended after posting a video showing social distancing measures being flouted at the club. Associated Press The league is trying to find a way to resume in June but group practice sessions have not yet started.Purslow tells talkSPORT radio that “we haven’t got to the crucial protocols that relate to actually playing football. Until we crack the code of making our great contact sports safe then the conversation we’re having is hypothetical.”Aston Villa has joined Brighton and West Ham in expressing public opposition to the current “Project Restart” plan that would see all remaining games played at neutral stadiums.Purslow says “we have six home games left to play so any Villa fan would agree that giving up that advantage is a massive decision for somebody running Aston Villa and I certainly wouldn’t agree to that unless the circumstances are right.”Villa is in next-from-last place in the Premier League and two points from safety with 10 games remaining. Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effects of the coronavirus outbreak on sports around the world:___Aston Villa chief executive Christian Purslow says Premier League clubs have yet to settle on protocols to ensure a safe return to playing during the coronavirus pandemic. The Latest: Premier League clubs yet to settle on protocolslast_img read more

Penalty glory, Mannequin Challenge, Powell megs Pep – England v Spain classics

first_img explained England captain Harry Kane will be looking to get the Three Lions off to a positive start in the new tournament 7 Seaman gets congratulated for his heroics in the Euro 96 quarter-finals 7 Second is best Latest England News Guardiola is horrified to see Powell nutmeg him! England and Spain have met in a European Championships on four occasions GETTING READY It was not the most entertaining contest but this game was the first ever competitive clash between England and Spain.Telmo Zarra got the only goal at Rio de Janeiro in a tournament where the Spaniards finished fourth.In contrast, England had a dreadful World Cup, having lost to the amateur USA 1-0 earlier in the group stage.A man called Alf Ramsey represented England as a player at that tournament. What ever happened to him?European Championships 1980 – Spain 1 England 2 have a look The Three Lions should have won the game but goals from Iago Aspas and Isco in the 89th and 90th minute saw England calamitously blow their 2-0 lead.This was the last time the two sides met. sad day Thirty years later, England came out on top against the Spanish thanks to goals from Trevor Brooking and Tony Woodcock.However, this victory was not enough for the Three Lions to advance to the semi-finals as Italy and Belgium played out a goalless draw to occupy the first and second spots.World Cup 1982 – Spain 0 England 0There was more heartbreak for England at the World Cup just two years later as an unfit Kevin Keegan was inches away from booking England’s place in the semi-finals.It all started so well for Ron Greenwood’s men, who advanced to the second group stage alongside West Germany and host nation Spain after finishing top of their first group. The two sides played their first ever match against each other in May 1929 and have played 24 more times since.But which games between England and Spain live long in the memory? Below you can see seven of the best games involving the two sides.World Cup 1950 – Spain 1 England 0 7 England open their UEFA Nations League campaign when they take on Spain at Wembley on Saturday at 19:45 – a game you can listen to live on talkSPORT.How the UEFA Nations League works Martin Peters, 1966 World Cup final goal scorer for England, dies aged 76 How does Euro 2020 draw work? England discover fate live on talkSPORT 2 Jamie Vardy with one of the more unusual celebrations of his career There was only one place in the last four available and England knew they’d be through if they could beat the hosts.In a final roll of the dice, England threw on an injured Kevin Keegan at 0-0 before he missed a glorious headed chance. Another nearly moment for England.European Championships 1996 – England 0 Spain 0 (England win 4-2 on pens)There was no England heartbreak at Euro 96 though as Terry Venables’ men beat Spain in a nerve-wracking penalty shootout in the quarter-finals at Wembley.David Seaman was the hero after saving Fernando Hierro and Miguel Nadal’s spot-kicks to put England through. England announce another friendly to begin preparations for Euro 2020 7 It’s fair to say Guardiola hasn’t spent the rest of his life dwelling on that moment though!International friendly 2015 – Spain 2 England 0This was not the most entertaining of matches but it produced arguably one of the greatest goals to have ever been scored.Mario Gaspar’s improvised overhead kick gave Spain the lead in incredible fashion before Santi Cazorla’s calm finish sealed the 2-0 win.Below you can see highlights of the game including THAT brilliant Spain goal.International friendly 2016 – England 2 Spain 2Anyone remember the Mannequin Challenge? Well, England striker Jamie Vardy got in on the hype in November 2016 when he headed beyond Pepe Reina at Wembley.The striker put England 2-0 up and celebrated by mimicking the challenge which everyone in the world seemed to be attempting at the time. 7 7 Keegan sustained a back injury just before the start of the tournament There is a Group of Death at Euro 2020 and here’s how England can avoid it Tributes to ‘complete gentleman’ Martin Peters following England legend’s death preparation World Cup winning England manager Alf Ramsey represented the Three Lions as a player in this game Until the 2018 World Cup, this was England’s only penalty shootout victory at a major tournament so this will always live long in the memory!International friendly 2001 – England 3 Spain 0Goals from Nick Barmby, Emile Heskey and Ugo Eghiogu ensured England registered a convincing 3-0 triumph over Spain in what was Sven Goran Eriksson’s first game in charge of the Three Lions.It was a huge gamble by the FA to hire England’s first ever foreign coach and this result suggested it was a stroke of genius, however, the Swede was unable to guide the crop of players from really fulfilling their potential in his five years in charge.One of the most memorable part of Eriksson’s first game, however, saw former Charlton left-back Chris Powell nutmeg Pep Guardiola! 7 TALENT Fans given sneak peek into England’s Euro 2020 kit with images leaked online RIP LEGEND England announce Euro 2020 warm-up matches against Austria and Romania ‘Spain and Italy would have built their teams around Jack Grealish’ – Harry Redknapplast_img read more