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India Today
31 minutes ago
- Sport
- India Today
India announce squad for historic mixed disability IT20 Series in England
The Differently Abled Cricket Council of India (DCCI) named the Indian men's mixed disability squad for a landmark seven-match T20 International Series against England, scheduled for June and July 2025 at premier venues across the historic tour marks the international debut of India's pan-disability cricket team - bringing together athletes with physical, hearing, and intellectual disabilities. It is a powerful testament to India's commitment to inclusive sports and is being held in collaboration with the England & Wales Cricket Board (ECB).advertisementAs part of the team's preparation, a national training camp will be held in Jaipur from 7 to 14 June, with a strong focus on physical fitness, strategic planning, and building team synergy ahead of the tour. The series represents more than competition - it stands as a celebration of empowerment, representation, and national pride. DCCI remains dedicated to advancing equality, dignity, and opportunity through a progressive step towards mainstream integration, select fixtures will be staged as Double Headers alongside major matches in England's cricket the 6th T20I on Tuesday, 1 July in Bristol will be held alongside the England Women vs India Women international match, with live broadcast coverage on Sky Sports - underscoring a strong message of visibility, parity, and respect for athletes with the Indian squad is Mr. Ravindra Gopinath Sante, a seasoned cricketer known for his discipline and inspiring Ravikant Chauhan, General Secretary, DCCI, said, 'This series is about redefining possibilities. Playing at Lord's – the Home of Cricket - is a dream for any cricketer. For our players, it's a symbol of history and pride. We hope the BCCI extends its support to our team, just as the ECB supports their pan-disability squad.'Mr. Abhai Pratap Singh, Joint Secretary, DCCI 'This is not just a team - it's a movement. These athletes are role models for what inclusion, determination, and unity can achieve.'Mr. Sumit Jain, Vice-President, DCCI, said, 'This squad represents the hopes of millions. Their journey is about courage, purpose, and vision. We are confident they will make India proud.'Mr. Rohit Jhalani, Head Coach (Former Rajasthan Ranji Captain), said, 'This team competes with the intensity of any elite squad. Their focus and passion are unmatched - they're ready for the international arena.'Mr. Santosh Kumar Rai, Coach (Deaf Team), said, 'Integrating deaf athletes with other disability categories is a milestone. This team's unity and discipline will leave a global mark.'India mixed disability squad for England IT20I seriesadvertisementRavindra Gopinath Sante (Captain) (PD), Vikrant Ravindra Keni (PD), Radhika Prasad (PD), Rajesh Irappa Kannur (PD), Yogendra Singh (Wicket-Keeper), Narendra Mangore (PD), Sai Akash (Deaf), Umar Ashraf (Deaf), Virendra Singh (Vice-Captain) (Deaf), Sanju Sharma (Deaf), Abhishek Singh (Deaf), Vivek Kumar (Deaf), Vikas Ganeshkumar (ID), Praveen Nailwal (ID), Rishabh Jain (ID), Tarun (ID)Reserves: Majid Magray (PD), Kuldeep Singh (Deaf), Krishna Gowda (Deaf), Jithendra Nagaraju (PD)Disability ClassificationsPD: Physical Disability, Deaf: Hearing Impaired, ID: Intellectual DisabilityMixed Disability Vitality IT20 Series – ScheduleSaturday, 21 June – 1st IT20 – Taunton, 6:30 PMMonday, 23 June – 2nd IT20 – Wormsley, 5:00 PMWednesday, 25 June – 3rd IT20 – Lord's, 3:30 PMFriday, 27 June – 4th IT20 – Worcester, 5:00 PMSunday, 29 June – 5th IT20 – Worcester, 2:30 PMTuesday, 1 July – 6th IT20 – Bristol, 2:00 PM (Double Header)Thursday, 3 July – 7th IT20 – Bristol, 6:30 PM
Yahoo
2 hours ago
- Business
- Yahoo
Economists Warn ECB to Avoid Delaying Over Last Two Rate Cuts
(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here. NYC Congestion Toll Brings In $216 Million in First Four Months The Economic Benefits of Paying Workers to Move Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania NY Wins Order Against US Funding Freeze in Congestion Fight NY Congestion Pricing Is Likely to Stay Until Year End During Court Case The European Central Bank will lower interest rates twice more, according to a Bloomberg survey, but respondents warned it shouldn't wait too long between those moves or investors will conclude that its easing campaign is already over. Respondents predict quarter-point reductions on June 5 and at September's meeting, when new quarterly forecasts should shed more light on the effects of US President Donald Trump's reordering of global trade. That would bring the deposit rate to 1.75%, where the poll sees it settling through the end of 2026. With inflation near 2%, Belgium's Pierre Wunsch and Greece's Yannis Stournaras — who hail from either end of the hawk-dove spectrum — have each discussed the merits of pausing soon. As well as buying time to digest the jolts from Trump's tariffs, a timeout would signal ECB loosening is approaching an end, without formally committing. 'Further easing is still on the cards this year but most likely not before autumn,' said Nerijus Maciulis, chief economist at Swedbank. After June's cut, 'the Governing Council will have a full three months to assess the impact of changes in US trade policy.' Sitting out one or more meetings before continuing to trim borrowing costs would risk communication challenges for President Christine Lagarde that grow with time, the poll showed. Almost 30% of analysts say the ECB can hold just once before markets conclude rates are at a floor. A quarter reckon it can afford a pause stretching for two meetings. The ECB is wary of confusing investors. An account of its last policy meeting revealed that officials saw the need 'to be a beacon of stability' and not cause 'more surprises in an already volatile environment, which might amplify market turbulence.' Asked at which point the ECB would acknowledge that it's finished lowering rates, most survey respondents said it won't. 'The ECB wants to keep all options open,' said Ulrike Kastens, a senior economist at DWS International. 'Although the disinflationary trend is well on track in the short term, the ECB is likely to reiterate that the medium-term outlook for inflation is uncertain.' A stronger euro, cheaper oil and softer economic growth — consequences of the trade uncertainty — suggest inflation will reach the ECB's target sooner than previously thought. But risks including supply-chain disruptions and retaliatory tariffs by the European Union could revive price pressures down the line. Euro-area consumers are showing signs of concern. Their expectations for inflation over the next 12 months ticked higher in both March and April. Analysts predict the ECB's new outlook next week will largely confirm the one presented in March, with weaker inflation this year and slower growth in 2026. But they also warn the forecasts won't fully account for the trade mess the euro zone could find itself in. 'The biggest challenge will be how to deal with ongoing tariff uncertainty,' ING's Carsten Brzeski said. 'The ECB needs to wait until the end of the 90-day pause before it can incorporate tariffs into its projections. This means that, for now, only the disinflationary impact from a stronger euro and lower oil prices will dominate the rate decision.' The alternative outcomes that the ECB will publish alongside its baseline may help determine the best course of action. But the fact that such scenarios are being prepared at all — having not been used since the pandemic and Russia's attack on Ukraine — underscore the ever-changing backdrop with which policymakers are grappling. 'After several months in which ECB policy has been very predictable, the summer could present bigger challenges,' said Fabio Balboni, a senior euro-zone economist at HSBC. 'An increasing divergence seems to emerge within the Council on what's next.' In addition to rates, some officials want to discuss the implications of quantitative tightening as maturing bonds roll off the ECB's balance sheet. Executive Board member Piero Cipollone has said rate cuts, which ease financing conditions, should 'compensate' for QT. Only about a quarter of respondents share his concern and say the ECB should halt the policy — either immediately or once reductions in borrowing costs are over. Traders are betting on at least one more cut this year beyond June, fully pricing it will arrive by October with a 30% chance of further reduction by December. A quarter of economists, however, see next week's rate move as the end of the line. 'The ECB will need to send a message that balances the baseline that the cutting cycle is essentially done, while keeping its options open for any negative shocks that may materialize,' said Bas van Geffen, senior macro strategist at Rabobank. 'That's a tightrope to walk, with the markets pricing further cuts and still biased to look for lower rates.' YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P.
Irish Independent
4 hours ago
- Business
- Irish Independent
Central Bank lost €795m last year, due to interest rate mismatch
The loss was a result of the monetary policy in the eurozone, with central banks buying government bonds during the Covid-19 pandemic at a very low, fixed rate of interest or yield. The ECB raised interest rates by a total of 4.5pc from July 2022 onwards, in a bid to reduce the inflation sparked by Russia's invasion of Ukraine. This meant the low-yielding bonds on the Central Bank's balance sheet were being funded by paying interest at the ECB's new higher rate. 'This balance sheet structure and interest rate environment is forecast to reduce the Central Bank's income over a number of years and to result in losses in 2025, and potentially beyond,' according to the regulator's annual report, published today. 'While these losses are expected to be covered by the Central Bank's financial buffers, their full extent is uncertain and will depend on many factors, in particular the monetary policy set by the ECB's governing council to ensure price stability.' In a blog post published alongside the report, governor Gabriel Makhlouf pointed out that a number of other central banks around the world also recorded losses last year, and said the financial position of the Irish central bank 'remains robust' despite the losses. He pointed out that the Central Bank's role is not to make profits, but to maintain monetary and financial stability. Any surplus income it does generate is transferred to the Exchequer. The bank has a provision for financial risks to cover this interest-rate mismatch on its balance sheet. Some €795.4m of this was used last year, compared to €132.1m in 2023. The Central Bank built up this buffer when it generated substantial profits about a decade ago, driven by gains from selling assets bought in 2013 as part of the liquidation of the Irish Bank Resolution Corporation, the former Anglo Irish Bank. These were all sold by the end of 2023. 'Mindful that both the inflation and interest-rate environments could change markedly over time, realising interest-rate mismatch risk, the Central Bank retained the maximum allowable 20pc of its profits during this period, up until 2022,' the annual report points out. At the end of last year, after using some of the provision to cover the loss, the Central Bank's financial buffers stood at €8.3bn, including capital and reserves of €6.2m and a general risk provision of just over €2bn. Staff expenses increased at the Central Bank last year, following the implementation of a public sector pay agreement. The pay bill came to just over €248m, up from €223m in 2023. The report shows that the number of staff earning between €210,000 and €240,000 a year increased from five to 11, while the number earning in excess of €240,000 per annum went from four to six. The report also shows that the value of gold held by the Central Bank increased to €970m, up from €722m. 'Gold and gold receivables consist of coin stocks held in the Central Bank, together with gold bars held at the Bank of England and Banque de France,' the report says. 'The increase in the balance at year-end 2024 is due to an increase in the market value of gold holdings from the year-end 2023 to 2024.'
RTÉ News
14 hours ago
- Business
- RTÉ News
Losses at the Central Bank last year increased six fold to €795m
Losses at the Central Bank last year increased six fold to €795m, according to the 2024 Central Bank's annual report which shows that the losses of €795m follow losses of €132m for 2023. The losses of the past two years followed an era of super profits at the Central Bank where it had generated more than €23.5bn of profits in the 15 years to 2022 in the wake of the financial crisis. In a blogpost accompanying the publication of the annual report, Central Bank Governor, Gabriel Makhlouf said: "Our financial position remains robust, despite the losses that we incurred as a result of the necessary monetary policy actions to achieve price stability. "Prior to the use of any provisions, the Central Bank recorded a loss, like a number of other central banks across the world, of €795.4m in 2024," Mr Makhlouf said. "Similar to last year, this result was due to the exposures arising from the use of the Central Bank's balance sheet as a tool for monetary policy - reflecting our mandate to safeguard price stability." Mr Makhlouf said that the Central Bank's role is not to make profits:"Our mission is to serve the public interest by maintaining monetary and financial stability, while ensuring that the financial system operates in the best interests of consumers and the wider economy." "We find ourselves facing into a period of both challenge and opportunity for the Irish economy, against an uncertain international backdrop," he said. "The global geopolitical landscape faces significant strain and complexity, driven by competing interests, shifting alliances with different values and increasingly independent economic blocs." The report states that going forward, the Central Bank's balance sheet structure and interest rate environment is forecast to reduce the Central Bank's income over a number of years and to result in losses in 2025, and potentially beyond. The report states that "while these losses are expected to be covered by the Central Bank's financial buffers, their full extent is uncertain and will depend on many factors, in particular the monetary policy set by the ECB's Governing Council to ensure price stability. The annual report shows that with the rising price of gold, the value of the Central Bank's gold increased from €722m to €970.76m last year. The report shows that Mr Makhlouf's salary last year increased from €316,794 to €331,369 arising from salary increases across the public sector. Mr Makhlouf is also in receipt of a UK public service pension. The annual report shows that six staff received pay in excess of €240,000 last year with a further 11 receiving pay between €210,000 and €240,000. The amount paid out in professional fees last year increased from €15.05m to €21.65m. The spend on legal fees increased from €1.85m to €2.23m and a note states that the costs relate to 26 separate legal cases including €44,000 for settlements in three cases and €400,000 awarded against the Central Bank. The Central Bank's insurance company paid €70,000 relating to legal costs and settlements. Staff expenses, including salaries and allowances of €198m, increased from €221.23m to €246.28m. Numbers employed increased from 2,234 to 2,263 at the end of last year. Staff hospitality last year increased from €250,000 to €279,000.
Irish Times
18 hours ago
- Business
- Irish Times
ECB governing council member convicted of bribery
Peter Kažimír, governor of the National Bank of Slovakia and a member of the European Central Bank's governing council, was convicted of bribery on Thursday and fined €200,000, just days before his term is due to expire. Despite the ruling, Mr Kažimír, an old political ally of Slovakia's prime minister Robert Fico, is expected to remain as the country's central bank governor beyond the scheduled end of his six-year term at the start of June. The verdict can be appealed and does not force him from office. Before Thursday, Slovak lawmakers were deadlocked over whether to reappoint him. Mr Kažimír will continue to take part in ECB rate-setting meetings, with the next decision on June 5th. Mr Kažimír, who served as finance minister under a previous Fico administration, did not attend the court hearing. In a pre-recorded statement, he denied wrongdoing and pledged to appeal against any conviction. READ MORE Presiding judge Milan Cisarik ruled that Mr Kažimír would face a one-year prison sentence should he fail to pay the fine. Prosecutors had sought prison, accusing Mr Kažimír of acting as an intermediary in the payment of a bribe to a former senior tax official while serving as finance minister. The National Bank of Slovakia said on Thursday that it took note of the verdict against its governor, who is currently on a work trip to Hong Kong. 'The bank continues to operate without restrictions and carries out its functions in full,' it added. The case against Kažimír almost collapsed last year after Fico's government pushed through contentious amendments to the criminal code, including a shortened statute of limitations. However, it was revived when the prosecution argued that the alleged bribery offence harmed the financial interests of the EU, placing it outside the reach of the domestic legislation. – Copyright The Financial Times Limited
