Spending can be a pain (seriously)

first_imgWhile it seems like a utopian concept, the argument that some consumers could be addicted to saving money might not be as inconceivable as it sounds.A study conducted by professor George Loewenstein of Carnegie Mellon found that despite the challenges people have with saving money, a significant 25 percent of the general population actually found it painful to spend money.Loewenstein studied 13,000 people to examine their brain activity patterns and response to desirable items (e.g., chocolate candy) versus undesirable items (e.g., the candy’s price tag), using functional magnetic resonance imaging techniques.The results uncovered that if participants liked the chocolate, the brain’s reward center (the nucleus accumbens) demonstrated a positive reaction to seeing the candy. Upon seeing the chocolate’s price tag, however, the pain and disgust regions of the brain (the insula) showed activity.These findings suggest that the brain’s negative response to tapping into a bank account is its inherent way of reeling in consumers from seeking out too many pleasure-seeking experiences. This adverse response to the thought of losing money is what might have paved the way for the different types of savers who seek to pad their savings accounts with extra cash. continue reading » 12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Promoting credit union digitization in the “world’s most advanced digital society”

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Thomas Belekevich Thomas Belekevich has been employed by World Council since 2004 and currently serves as Program Manager of its international training and education programs. He is a polyglot – speaking Spanish, Portuguese, … Web: www.woccu.org Details In both established and emerging markets, digitization provides a path to modernizing credit unions and expanding their reach. At the World Council of Credit Unions (WOCCU), we believe so strongly in the power of digitization—we’ve established Challenge 2025: digitization of the global credit union system.And no country shows the possibilities digitization offers like the small Eastern European nation of Estonia.I recently joined a group of professionals from the Virginia Credit Union League (VACUL) and CULedger on a WOCCU Global Classroom exchange to the Estonian capital city of Tallinn, hosted by the Estonian Union of Credit Cooperatives (EUCC).There are fewer than two dozen credit unions in all of Estonia, representing just .01% of the country’s entire financial sector. But the potential to grow that reach is immense, due to Estonia’s unique position as one of the most advanced digital societies in the world. In fact, Wired magazine has called it the most advanced digital society. VCUL representatives learned why—and took home a vast array of information on how far they can advance their digital services as well.  The digital futureThe exchange—dubbed “Tallinn Forum 2019”—included presentations detailing the challenges and opportunities technologies such as cryptocurrencies and blockchain present for credit unions.John Ainsworth, CEO of CULedger, provided an overview of why it’s important for credit unions to build up their technology today, so they can deliver for members tomorrow.But to see the results of what full commitment to a digital future looks like, forum participants were treated to a presentation by E-Estonia—an arm of the Estonian government that promotes and facilitates online services for just about everything.It was fascinating to see the extent to which their e-Governance solutions have digitized life in Estonia. By utilizing a simple government ID card enabled with a special chip, Estonian citizens can select e-solutions for 99% of all public services right on their laptops or phones, at a time and place convenient for them. In most cases, there is never any need to physically visit the agency providing the service. The services include:  employmentpensiontaxesvotingdriver’s licenses (no need for a separate card, stored in ID)healthcareEstonia’s e-Health program was particularly interesting for exchange participants, showing how digital systems can deliver amazing customer service. Citizens’ healthcare is centralized on this system, allowing individuals to access their full medical records—including all procedures done during a surgery and medicines applied. It also allows them to see if anyone has accessed their record. The system is directly linked to pharmacies online to coordinate prescription dispensing and avoid errors. If a person is authorized for sick leave from the doctor, their employer is even notified directly through the system. It is both brilliant and efficient. Needless to say, our exchange participants were in awe of what Estonia has accomplished through digitization. While they will take that knowledge and examine the digital future of their own credit unions, World Council will continue working with its partners—such as CULedger—to examine ways we can get credit unions in Estonia and other developing nations to thrive digitally and grow their membership—as we build to meet our Challenge 2025 goal. last_img read more

Coronavirus less deadly in Germany because of youthful patients

first_imgThe virus has infected more than 350,000 people and killed more than 16,000 around the world since it emerged in China late last year. About a third of those deaths have been in Italy, where some hospitals are overwhelmed. There have been reports of doctors forced to triage patients and ration equipment to save those most likely to live.Health authorities still don’t know exactly how the virus entered Italy, but once there it easily infiltrated the high-risk older generation. To a degree uncommon in most other parts of Europe, Italian adults are in frequent contact with their parents. The “nonna” and “nonno” provide childcare and standing Sunday lunch dates, and they often live in the same city — or even closer.More than 20% of Italians between the ages of 30 and 49 live with their parents, according to Bonn University economists Christian Bayer and Moritz Kuhn. That’s more than double the rate for Germans in that age bracket. Bayer and Moritz have found a correlation between generations living under one roof and case fatality for coronavirus.‘Social network’“Why are so many elderly in some countries getting infected whereas in other countries they don’t?” Bayer said. “The social network is a natural explanation.”While other factors are certainly influencing fatality rates, Bayer said his analysis appears to bear out thus far for most of Europe and the U.S. Countries where multigenerational living is common — including Greece, Bulgaria, Poland and Serbia — should move swiftly to protect the elderly, he said.In Germany, many early cases were in young and healthy people who had just been to ski resorts where the virus was circulating, often in northern Italy or neighboring Austria. The majority of cases have been in people who are 35 to 59 years of age. The average age of those killed by the disease was 82, the Robert Koch Institute’s Wieler said on Monday.Thanks to a “very aggressive testing process” in Germany, more of the mild cases are probably being included in the total numbers, said Michael Ryan, head of the World Health Organization’s health emergencies program. Ryan predicted that mortality rates will evolve in coming weeks, as patients die in the hospital three to four weeks after being diagnosed.Italian authorities have pushed back against the idea that the country’s mortality rate is due to the strain on hospitals overrun by new patients, especially in hard-hit regions such as Lombardy. Areas like Veneto, around Venice, have tested more extensively and have lower mortality rates.Italy’s tollEmergency chief Angelo Borrelli said Friday that the Italian death toll may be skewed higher by an expansive definition of coronavirus deaths, with anyone who tested positive being included, regardless of any other conditions from which they suffered. But Germany’s Koch Institute says it’s following a similar procedure.“The real risk is the geriatric age and also concurring illnesses such as high blood pressure and diabetes,” said Roberto Bernabei, geriatrics professor at Catholic University in Rome. “These lead to a greater aggressiveness from the virus.”Just 2.7% of confirmed infections in Germany are in people over the age of 80, the Koch Institute said on Monday. That compares with 18% of cases in Italy.For now, children should visit their grandparents online instead of in person, German Chancellor Angela Merkel said last week. She suggested Skype, telephone calls and emails, or “maybe writing letters again.” Topics : As the coronavirus death toll surges across much of Europe, one country remains an anomaly.Despite more than 25,000 infections, the fifth-most in the world, Germany’s mortality rate is only 0.4%, according to data compiled by Bloomberg from state health authorities. At the virus’s epicenter in Italy, by contrast, some 9.5% of people confirmed to have the infection have died.There may be many reasons for the disparity, but they all boil down to one thing: Covid-19 has not yet hit as hard among the oldest and frailest members of Germany’s population. Authorities are testing and tracking mild cases aggressively, and more than 80% of those confirmed are in people under the age of 60. In Italy, despite similar demographics, the picture is vastly different, with the virus disproportionately striking the old.center_img Taken together, the two countries are an object lesson for why public health authorities around the world are sealing off nursing homes and asking families not to visit elderly parents or grandparents. Once the virus spreads into an older population, as Italy shows, it can overwhelm health systems and become more deadly for everyone.In Italy, 74% of those who’ve tested positive are over 50. In Germany, 82% of cases are people under 60. The prospect that the outbreak may shift to older people has German health officials worried, too.“We are only at the beginning of the epidemic,” said Lothar Wieler, president of the Robert Koch Institute, Germany’s public health authority.16,000 deathslast_img read more

Unai Emery drops Nicolas Pepe selection hint ahead of Liverpool clash

first_imgUnai Emery drops Nicolas Pepe selection hint ahead of Liverpool clash Metro Sport ReporterThursday 22 Aug 2019 3:32 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link58Shares Comment Arsenal smashed their transfer record to sign Nicolas Pepe from Lille this summer (Picture: Getty)Unai Emery has hinted Nicolas Pepe is ready to play a more prominent role in Arsenal’s first team ahead of Saturday’s acid test against Liverpool at Anfield.Arsenal shattered their transfer record to sign the Ivory Coast international winger for £72million earlier this month but he has been used sparingly by his new manager thus far.Pepe was brought on as a late substitute in the opening weekend win over Newcastle but played the entire second half in the win over Burnley and showed flashes of his abundant potential.Arsenal suffered a humiliating 5-1 defeat Liverpool last season and slumped to a four-goal defeat the year before, but Emery insists his headline summer purchase is edging closer to full match fitness and would harbour few reservations at throwing him in at the deep end.AdvertisementAdvertisementADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City Unai Emery insists Nicolas Pepe is nearly ready to make his first Arsenal start (Picture: Getty)‘The most important thing is, like a person, to help him and his family to feel comfortable here, he said.‘Now he is three weeks into working here with us. He didn’t do the pre-season here but he’s progressively feeling better.‘For example, in the first match, he played 15 minutes in Newcastle, then he played 45 minutes against Burnley.‘I think his individual performances are progressively getting better. For Saturday, he is maybe ready to have more minutes.‘I am going to decide tomorrow, but really his progress has been positive and has been good for the team and for him.‘The most important piece of the adaptation is to help him to feel easy and be comfortable with us.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal Advertisement Advertisementlast_img read more

An iconic home with plenty of character to sell for over $1M

first_imgInside 69 Kingsley Parade, Yeronga. Photos: suppliedMr Merchant said the current owners had planned to renovate and extend the existing house, as well as build a character home behind it on the vacant lot, once the property was subdivided in order to complement the character of the area.“However, due to a change in their circumstances they will no longer be pursuing their plans for the property and are keen to see it passed on to someone with an equally passionate vision for the property,” Mr Merchant said.With developers, builders, renovators and families looking to build their dream family home, Mr Merchant said the property could “make some money” on the side, with the potential of the block and subdivision.”The property is being sold by negotiation, offers welcome. 69 Kinglsey Parade, YerongaMore from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoHe said the pre-1911 property, which has a three-street frontage, was expected to sell for about $1.5 million.According to CoreLogic data, the current median house price in Yeronga is $802,500.Mr Merchant said the “Pink House” was one of the first houses in the district and became a talking point among Brisbane residents because of its distinct colour scheme, and cute in appearance. “It tends to catch everyone’s eyes easily and it has been around for ages. The character features also help the property stand out, such as the original looking external chimney which has a brick wall going all the way down the side through the house and through the external timber cladding,” he said,“It has just come to be one of those talked about houses in the community where great-grandparents to great-grandkids have all seen it exist over the years in their area.” 69 Kingsley Parade, Yeronga. Photos: suppliedTO some this shabby character home in one of Brisbane’s riverside suburbs might be an absolute eyesore, to others it’s a dream renovation project.Having recently hit the market, and tipped to sell for more than $1 million, the four-bedroom property at 69 Kingsley Parade, Yeronga is known as the iconic “Pink House”.Selling agent Arshan Merchant, from Ray White East Brisbane, said the home was on a massive 1,146sq m flat block of land and had not been affected by the floods.Mr Merchant the opportunities for buyers were “endless”.“The property can be subdivided without moving the existing home, renovated or kept as an investment,” he said.last_img read more

Aquatec Establishes Aquatec Rentals

first_imgAquatec Group has launched Aquatec Rentals, a rental service featuring its oceanographic, environmental and offshore instruments.The oceanographic and environmental rental pool includes Aquatec’s powerful AQUAmark 848 marine mammal deterrent, which is designed to deter porpoises, dolphins and similar toothed whales over distances of up to 1500m and is ideally suited for construction work. Also available are AQUAscat 1000 acoustic suspended sediment profilers and AQUAlogger 310TY advanced turbidity loggers. Aquatec Expert can be added to AQUAscat rentals – a service that includes personal consultation, pre-deployment advice and optional post-deployment reporting.An expanding pool of instruments and accessories is also available for hydrotest monitoring, including the new HYDROlog 3000 next generation hydrotest logger, the established HYDROlog 2000 logger, AQUAdisp subsea display, AQUAmodem Op2 optical modem for subsea communication and HYDROgauge high accuracy digital gauge. For subsea leak detection, Aquatec’s LEAKlog system is available, including long range fluorometers (up to 10m range), highly sensitive acoustic sensors and temperature probes for detecting a temperature differential.Aquatec Rental Rewards gives customers the opportunity to benefit from preferential rental rates, a discount on service and calibration for Aquatec instruments, and the opportunity to try out new technology first.Elizabeth Paull, sales & marketing manager, said: “Aquatec Rentals allows our customers to rent fully serviced and factory calibrated instruments directly from us. We offer first class service and competitive rates, as well as providing training and support when needed.”last_img read more

PM Skerrit says resumption of commercial flights at Canefield Airport uneconomical

first_img Sharing is caring! Tweet 31 Views   no discussions LocalNews PM Skerrit says resumption of commercial flights at Canefield Airport uneconomical by: – July 11, 2011 Sharecenter_img Prime Minister Roosevelt Skerrit says it will be uneconomical to resume commercial flights at the Canefield Airport.There have been questions about the future of the airport but PM Skerrit said it’s not a viable and eventually the people of Dominica would have taken a decision on it.His comment comes on the heels of concerns about the route from Roseau to Melville Hall.“We have spent tens of millions of dollars fixing the road. We have done the first phase and the second phase is under construction…we are committed to improving that because the dangerous bends and narrowness of the road will be addressed,” he said.Dominica Vibes News Share Sharelast_img read more

Salaries of city gov’t workers up 10% in 2020

first_img* City Accountant’sOffice – P49,062,702 ILOILO City – Beginning January 2020,the salaries of city government employees would increase by 10 percent. * City General ServiceOffice – P293,473,080 * City Health Office –P162,280,828 * City Engineer’s Office– P87,211,876 Also included in theMOOE of the City Mayor’s Office is P30 million for the Beautification Program. Of the P2.7 billion,57.21 percent (P1,546,449,500) would come from local taxes while the remainingfrom the city’s Internal Revenue Allotment. * Technical Institute ofIloilo City – P11,462,228 The Office of the CityMayor has a total appropriation of P712,195,443 — P73,791,486 for personnelservices (PS); P590,400,957 for the Maintenance and Other Operating Expenses(MOOE); and P48,003,000 for Capital Outlay. * City Planning andDevelopment Office – P24,503,743 Matters not covered bythe 2020 budget may be funded via budget supplements, he added. The Local EconomicEnterprise Office (LEEO), meanwhile, has budget of P60.9 million. The 2020budget is P400-million higher than this year’s budget. * Iloilo City CommunityCollege – P24,684,540/PN * City Budget Office –P21,780,797 * City Social Welfare andDevelopment Office – P76,014,894 * City Assessor’s Office– P56,139,719 City hall departmentsand offices and their respective budgets are:center_img “Most of our departmentswould also be getting budget increases,” said Treñas. * City Treasurer’sOffice – P100,743,054 * City Legal Office –P19,069,075 * City Veterinarian’sOffice – P12,839,002 Iloilo City Hall. IAN PAUL CIRDERO/PN * Public Safety andTransportation Management Office – P136,440,663 The increase is contained in the P2.7-billion 2020 city budget approved by theSangguniang Panlungsod (SP) on Dec. 3, according to CouncilorJay Treñas, chairperson of the Sangguniang Panlungsod’s (SP) Committee onAppropriations. * City AgricultureOffice – P20,630,615 “We adjusted thesalaries of our employees. The increase is 10 percent across the board para ka-function sila properly,”said Treñas. * Sangguniang Panlungsod– P78,821,379 * City Civil Registrar’sOffice – P14,148,892 * City Environment andNatural Resources Office – P67,857,795 * City Tourism andDevelopment Office – P11,265,716 * Human ResourceManagement Office – P20,172,3999 * City Auditor’s Office– P478,500 * City Population Office– P26,065,137 last_img read more

Breaking: U-17 World Cup: Golden Eaglets in late rally to beat Ecuador

first_imgRelatedPosts Ex-Falcons, Golden Eaglets coach dies in Osun Breaking: Netherland send Eaglet packing from FIFA U17 World Cup FIFA U17 World Cup: Eaglets to battle Netherlands in last-16 It took the Golden Eaglets the last five minutes of the encounter at the FIFA U-17 World Cup tournament ongoing in Brazil to tame Ecuador in their second group match. Nigeria had gone ahead early in the match to score. A fifth minute goal by Ibrahim Said put Nigeria ahead. But in the 10th minute, the Ecuadorians levelled scores with an own goal by Daniel Jinadu. Ecuador’s Johan Mina converted a penalty kick in the 56th minute after Charles Etim committed an infraction. It looked like the match was going to end in favour of Ecuador until the last five minutes when Said scored in the 85th and 89th minutes. The Golden Eaglets have had a perfect beginning to the competition as they had defeated Hungary 4-2 in their first group match.Tags: FIFA Under-17 World CupGolden Eagletslast_img read more

Martinez enjoys victory over Villa

first_img The Toffees struggled in the first half at Goodison Park after Aiden McGeady hit a post and trailed to Leandro Bacuna’s 34th-minute opener. But Everton were a different prospect after the break and pulled level through substitute Steven Naismith 16 minutes from time before Kevin Mirallas earned a 2-1 win with a spectacular free-kick. Roberto Martinez described Everton’s victory over Aston Villa as the most satisfactory three-point haul of the season. “And we are a team that when we enjoy ourselves we are quite difficult to play against. I think that’s what we proved in the second half.” In the absence of Romelu Lukaku and new signing Lacina Traore, Mirallas took over striking duties, and it was generally not a happy experience for the Belgian. But he had the last word, picking himself up after being fouled by Ciaran Clark five minutes from time and placing the ball beyond the reach of Brad Guzan from 30 yards. Leighton Baines has made such strikes his speciality but the England man had a watching brief this time. Martinez said: “Kevin found it very frustrating, as you would expect. He was surrounded by Aston Villa players and we couldn’t get into the final third. “They were trying to stop us really high up the pitch. Kevin was working extremely hard without getting any sort of joy. “I think Kevin Mirallas’ quality is as good as Leighton Baines, obviously with different feet. It would be difficult to separate them. “What I like about the two players, more than the technical aspect, it’s the meaning of scoring a goal to get three points. They’ve both got that mentality of controlling the moment and that’s something you need to be born with.” Villa went into the match on the back of a very different derby experience after beating West Brom 4-3 on Wednesday, and manager Paul Lambert felt they deserved something at Goodison. He said: “The first goal was really poor from our point of view. I think the second goal you hold your hands up and say it’s a world-class free-kick, and you can’t do anything about that. “I don’t think we deserved to lose the game. We took the sting out of the crowd and frustrated Everton, who are a good side. “In the first half, other than Aiden’s shot against the post, there’s not a save that Guzan’s had to make, and we scored a really good goal.” The victory, coupled with dropped points for Tottenham and Manchester United, repaired some of the damage from Tuesday’s Merseryside derby hammering by Liverpool. Everton climbed back to fifth place and to within a point of Liverpool, albeit having played a game more. Manager Martinez said: “From our point of view it’s the most satisfactory victory of the season. “You could see in the first half we were very cagey and wary and that stopped us getting on the ball and having the fluency that we normally have. “When you hit the post and then you concede a goal, it becomes a real test of character, and I thought the way we reacted in the second half was one of the most pleasing aspects that you can have as a manager. “With the character and the talent and the desire in that dressing room, I couldn’t be prouder. It’s a moment to get really excited about the end of the season after that sort of performance.” Martinez denied their first-half display was a hangover from the 4-0 defeat at Anfield, blaming tactical changes he tried to implement. The Spaniard said: “It was my fault more than anything. In the first half we were too responsible. There were too many players who wanted to do the right things without enjoying themselves. Press Associationlast_img read more