FTK to require Dutch schemes to increase buffers by 5 percentage points [updated]

first_imgIn the new FTK, according to sources, pension funds will be allowed to even out funding shortfalls over a 10-year period.For example, a scheme with a 10% shortfall, that applies a rights cut of 1% in the first year, would be exempt from further discounts if the coverage ratio improved sufficiently.News daily De Telegraaf reported that, in addition to tighter rules for existing nominal arrangements, the new FTK will also introduce rules for pension funds that want to place all risk with the participants.Pensions expert Theo Kocken confirmed that the new FTK is to focus on nominal arrangements, which are more flexible towards recovery from downward shocks, but more strict on adding pension rights following a windfall.He said he was convinced the effect of the new indexation rules would be neutral for both younger and older workers.Another reliable source told IPN the new FTK would only allow indexation if a scheme’s funding was more than 110%, and that indexation would also depend on a pension fund’s population.Kocken concluded that the current concept was the “best possible and maximum achievable” within the current pensions system.However, in his opinion, an essentially different pensions contract, with clear ownership rights, would be needed for the longer term.Initially, Klijnsma recommended an FTK consisting of two different pension contracts: a nominal one with tighter rules and a contract under real terms.However, following widespread criticism from the sector – which warned of overly complicated arrangements and problems with merging existing nominal and new real pension rights – the state secretary said she would draw up new proposals focusing on a hybrid contract.However, her latest thinking on the FTK suggests a continuation of nominal pension plans.If the Cabinet approves, the concept FTK would be put to the Council of State – the highest legal authority – for advice, before it is tabled in Parliament.The advice process could take up to six weeks, potentially leaving only six weeks for reading in Parliament before the summer recess.The new FTK is scheduled to go into effect on 1 January 2015, but many players in the industry have questioned the feasibility of such a tight deadline.The introduction of a new FTK has already been postponed by one year. Dutch pension funds, under the new financial assessment framework (FTK), will have to increase their financial buffers by 5 percentage points to 26.6% of assets, according to leaked details on the proposals. A number of industry sources close have confirmed to IPE sister publication IPNederland that the FTK proposals of Jetta Klijnsma, state secretary for Social Affairs, are to be discussed by the Cabinet today.They also confirmed that the new proposals would focus on nominal arrangements, and said the new FTK would allow pension funds to continue to base contributions on expected returns.The chief reason cited for this break from previous drafts of the FTK was the fact it would enable a decrease in contributions, including employer costs. The Dutch state, being the largest employer, has a significant interest in lower premiums.last_img read more

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Trianel Windpark Borkum II Turbines Halfway There

first_imgThe Trianel Windpark Borkum II (TWBII) offshore wind project has reached the halfway turbine installation point as 16 out of 32 units have been erected.Source: Trianel Windpark Borkum IIJan De Nul’s jack-up vessel Taillevent installed the 16 Senvion 6.2M152 turbines in the northeastern part of the project site offshore Germany, with the installation of the remaining 16 units now continuing on the other side of the transformer platform.According to the project developer, the 200MW wind farm will not be completed by the end of 2019 as initially planned, but in the first half of 2020.Taillevent is picking up the Senvion turbines at Buss Terminal Eemshaven in sets of three and installing them at the site some 40km north of the island of Borkum.Trianel Windpark Borkum II, the developer of the project, is owned by EWE AG (37.5%), a joint venture of the power utility of the city of Zurich (24.51%) and the Stadtwerke-Kooperation Trianel together with 17 municipal utilities from Germany (37.99%).Source: Trianel Windpark Borkum IIlast_img read more

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U.S. banking on experience in women’s World Cup defence

first_img(REUTERS) – The United States will be counting on experience as they look to defend their women’s World Cup soccer crown in France, with coach Jill Ellis announcing a squad on Thursday that features 12 members of the team who lifted the trophy in 2015.Leading the squad is veteran forward Carli Lloyd, the Golden Ball winner in 2015 who was named in her fourth World Cup.Defenders Becky Sauerbrunn, Kelley O’Hara and Ali Krieger, and forwards Tobin Heath, Megan Rapinoe and Alex Morgan will be making their third consecutive appearance in the global showcase tournament. The roster averages 80 international caps per player.Although the 23-player roster is dominated by familiar names, there are 11 new faces about to be put in the World Cup pressure cooker for the first time.“Coming out of the Olympics it was looking at not just player personnel but profiles, what kind of players, where were things headed, where we trending and making sure we had players to fill those needs and being able to contribute to where I envisioned the game going four years on,” Ellis said during a conference call. “What we’ve come to is exactly that, a team with great energy, a team with great experience.“Even though there are younger players, I think those players have been with us for a while and have experienced a lot of top quality matches.”The Americans will be bidding to win the World Cup for a fourth time.The U.S. and Japan have clashed in the last two World Cup finals, the Americans winning it in 2015 and Japan taking home the trophy in 2011. “Today a lot of countries have a lot of players with a lot of experience,” said Ellis. “As it relates to my decisions and this team, when you look at a player you say ‘ok, has this player been on that stage before; that is certainly a bonus.“No one, I feel, on this roster, based on her psychological makeup, is going to melt in this pressure cooker.”With their opening match just 40 days away, U.S. squad will report to training camp in Northern California and play three friendlies before heading to Europe. The U.S. take on South Africa in Santa Clara, California on May 12, face New Zealand on May 16 in St Louis and Mexico on May 26 in Harrison, New Jersey.The World Cup will run from June 7 to July 7 with the final to be played at the Stade de Lyon in the south of France.The top-ranked U.S. will open Group F play against Thailand on June 11 in Reims. The U.S. also meet Chile on June 16 in Paris and Sweden on June 20 in Le Havre.last_img read more

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New Zealand crush Sri Lanka to level Test  series

first_imgCOLOMBO (Reuters) – New Zealand skittled Sri Lanka out for 122 on Monday to secure a series-levelling victory by an innings and 65 runs on the final day of a rain-hit second Test in Colombo.New Zealand had batted on for five overs in the morning, allowing BJ Watling to complete a century before declaring their first-innings closed on 431 for six in reply to Sri Lanka’s 244.That gave the tourists, who lost the opening Test in Galle, a lead of 187 with 91 overs of play left and their bowlers provided the early strikes they needed to reduce Sri Lanka to 32 for five.“A great effort to push for victory and ultimately come out on the winning side,” New Zealand captain Kane Williamson said at the presentation ceremony. “Naturally when the game starts coming so close, and the light’s always a factor here as well this time of the year.“But it was an outstanding effort from the first innings itself. And then the batters scored at a rate that allowed us to move the game forward. Deserve to be 1-1.” The hosts did not have regular captain Dimuth Karunaratne available to open the innings after he suffered a torn quadriceps while fielding.He was unable to bat higher than number seven, though when he did take to the field, he and Niroshan Dickwella batted resolutely for a 51-run sixth-wicket partnership that gave Sri Lanka hopes of a draw.Karunaratne fell lbw for 21 to seamer Tim Southee, however, while wicketkeeper Dickwella, who had suffered a finger injury, delayed the inevitable a little longer with a patient 51. The Sri Lanka skipper blamed his side’s batting in the first innings for defeat.“I think it was a pretty good wicket,” he said. “We needed to be patient and put a big score, 240-odd wasn’t enough. “We need some partnerships, we keep losing wickets regularly. That’s the key … once the batters get a start, we need to get a big one.”Watling remained unbeaten on 105, his seventh test century, when captain Kane Williamson declared.Rain had allowed just 66 overs on the first two days of the match, and 48 overs on the fourth. The teams next play three Twenty20 internationals, starting in Pallekele on Sunday.KIWIS CRUSH..SRI LANKA 1st innings 244New Zealand 1st inningsJeet Raval c Dhananjaya de Silva b Dilruwan Perera 0Tom Latham lbw Dilruwan Perera 154Kane Williamson c Kusal Mendis b Lahiru Kumara 20Ross Taylor c Dhananjaya de Silva b Lasith Embuldeniya 23Henry Nicholls c Dhananjaya de Silva b Dilruwan Perera 15BJ Watling Not Out 105Colin de Grandhomme c Lahiru Kumara b Lasith Embuldeniya 83Tim Southee Not Out 24Extras 0b 4lb 0nb 0pen 3w 7Total (115.0 overs) 431 declFall of Wickets : 1-1 Raval, 2-34 Williamson, 3-84 Taylor, 4-126 Nicholls, 5-269 Latham, 6-382 de GrandhommeDid Not Bat : Somerville, Patel, BoultBowling: Dilruwan Perera 37 – 4 – 114 – 3, Dhananjaya de Silva 5 – 1 – 10 – 0,Suranga Lakmal 11 – 2 – 32 – 0, Lahiru Kumara 25 – 0 -115- 1 (3w),Lasith Embuldeniya 37 – 4 – 156 – 2.SRI LANKA 2nd inningsLahiru Thirimanne Run Out Ajaz Patel 0Kusal Perera c BJ Watling b Trent Boult 0Kusal Mendis b William Somerville 20Angelo Mathews c Ross Taylor b Colin de Grandhomme 7Dhananjaya de Silva c Tim Southee b Ajaz Patel 1Niroshan Dickwella c Tom Latham b Ajaz Patel 51Dimuth Karunaratne lbw Tim Southee 21Dilruwan Perera c Ross Taylor b Tim Southee 0Suranga Lakmal c Tom Latham b William Somerville 14Lasith Embuldeniya c Kane Williamson b Trent Boult 5Lahiru Kumara Not Out 0Extras 0b 2lb 0nb 0pen 1w 3Total (70.2 overs) 122 all outFall of Wickets : 1-0 Thirimanne, 2-4 Perera, 3-11 Mathews, 4-22 de Silva, 5-32 Mendis, 6-73 Karunaratne, 7-75 Perera, 8-115 Lakmal, 9-118 Dickwella, 10-122 EmbuldeniyaBowling : Trent Boult 14.2 – 8 – 17 – 2, Tim Southee 12 – 6 – 15 -2 (1w),Ajaz Patel 19 – 3 – 31 – 2, Colin de Grandhomme 4 – 1 – 8 – 1,William Somerville 21 – 6 – 49 – 2last_img read more

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Williams legacy assured even if number24 remains out of reach

first_imgBy Steve KeatingNEW YORK (Reuters) – Already regarded as the greatest women’s player ever to pick up a tennis racquet, Serena Williams’s legacy is already assured but the record equalling 24th Grand Slam that would help build statistical proof remains frustratingly out of reach.Twenty years ago a 17-year-old Williams walked away from the U.S. Open with what would be the first of her 23 Grand Slam titles. On Saturday she had the chance to equal Margaret Court’s all-time record but instead it was Canadian teenager Bianca Andreescu grabbing the trophy with a 6-3 7-5 win.That victory not only raised questions about whether Williams would ever get beyond 23 Grand Slam titles, many also viewed 19-year-old Andreescu’s win as a changing of the guard in women’s tennis. Since giving birth to her daughter in 2017, Williams has not won a tournament. Four times now, twice at Wimbledon (2018, 2019) and at the U.S. Open (2018, 2019) Williams has come agonizingly close to that 24th Grand Slam only to fall at the final hurdle. She did not just lose all four finals — she failed to win a single set.The next time Williams can attempt to equal Court’s record at the Australian Open in January she would be 38, the climb to the summit ever steeper.But a defiant Williams refused to accept there would not be another Grand Slam in her future. “All of it honestly, truly is super frustrating,” said Williams. “I’m, like, so close, so close, so close, yet so far away.“I don’t know what to say. I guess I got to keep going if I want to be a professional tennis player. “And I just got to just keep fighting through it. “I’m not necessarily chasing a record. I’m just trying to win Grand Slams.“It’s definitely frustrating. I’m still doing what I can do.”MOVING THE NEEDLE Like Tiger Woods and Michael Jordan, Williams is an athlete who moves the needle.What she wears, eats and says matters.In the Big Apple, where there is no shortage of distractions for A-listers on a Saturday afternoon, it was the Serena Williams show that was the hot ticket.When the Queen of Tennis holds court in New York it attracts sporting royalty and on occasion the real thing. Williams’s good friend Meghan Markle, the Duchess of Sussex, was cheering her on from the players box.But no amount of support, royal or otherwise, could lift Williams to the level she needed on Saturday, Andreescu breaking the former world number one to open the final and never letting her opponent get her nose in front.Williams’s power game has never been in question. Her serve and crushing forehands can still strike fear into opponents. But the rest of Williams’s game has begun to show signs of wear of time. She can no longer command the court the way she once did, and her coach Patrick Mouratoglou suggested Williams’s greatest weapon — her unshakable confidence — had faltered under the weight of her own high expectations.Before the U.S. Open the air of invincibility that once surrounded Williams had all but vanished. Then she arrived at the doors to Flushing Meadows and looked unbeatable, steamrolling her way into her 10th U.S. Open final.This was not an old Williams. This was the Williams of old.Vintage Williams.Any concerns over the back spasms that forced her to quit the Toronto final and pull out of Cincinnati were eased when Williams opened her Flushing Meadows account with a 6-1 6-1 demolition of old rival Maria Sharapova. That was followed by routine wins over Karolina Muchova, Petra Martica and Cat McNally before blasting her way into the last four with a jaw dropping 6-1 6-0 rout of China’s Wang Qiang to register her 100th U.S. Open victory.An even more ruthless 6-3 6-1 semi-final win over fifth seed Elina Svitolina seemed to indicate that the title was there for the taking.But on Saturday she was looking across the net at a mirror image of her younger self. A player with a big serve, thundering forehand, all court game, intensity and a cat burglar’s cool. Down a set and 5-1 the stress and frustration was written all over Williams’s face.Then the spirit of a champion took over, Williams fighting off match point and sweeping through four games to level the set and sending a jolt of electricity through a seething Arthur Ashe Stadium.But in the end youth was served, Andreescu living up to expectations and Williams unable to live up to her own.last_img read more

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Home cooking does trick for UW

first_imgKRIS UGARRIZA/Herald photoThis weekend, the University of Wisconsin volleyball team was able to get back on track, beating Michigan in a five-set victory on Friday and sweeping Ohio State Sunday afternoon.Against the Buckeyes, the Badgers were led by senior outside hitter Morgan Salow, who had 13 kills and a .611 hitting percentage coming off the bench. Senior middle blocker Audra Jeffers also contributed eight kills, which led to Wisconsin beating Ohio State in straight sets to improve its record to 12-4 overall and 2-2 in conference play.“I am so excited with how the team just meshed well today and everybody was just on,” Salow said. “Everything felt good about today, and I think our passing was really good.”The Buckeyes showed the biggest challenge to Wisconsin in the first set by both out-hitting and out-blocking the Badgers, but still lost 28- 26. Ohio State was led by junior outside hitter Anna Szerszen, who had nine kills and a .562 hitting percentage. However, the Badgers were able to adjust their defense to compensate for the French native’s success.“It was very tough to stop her,” Wisconsin head coach Pete Waite said. “She was hitting it down the pipe and doing very well. But we made some adjustments there. I think they at least stop going to it. I think our serving at times was good enough where they were pulling the server off the net, and they needed to change their setter in the third set, which is great. It means they were confused over there a little bit.”The Badgers continued to dominate the next two sets thanks to good blocking and passing. Wisconsin held Ohio State to a .107 hitting percentage in the second set and .071 in the third while out-blocking them 5-3. Meanwhile, their offense continued to fire on all cylinders, hitting above .400 in the last two sets.“We are just starting to mesh well,” sophomore libero Kim Kuzma said. “We switched the lineup a little bit, and I think it worked very well. I think we are having fun.”Friday night’s match against Michigan tested Wisconsin more than Ohio State did Sunday.The Badgers dropped the first two sets against the Wolverines before winning the next three to take the match. During the first two sets, Wisconsin accumulated 10 of 11 service errors and had only three blocks.“It was not looking good in the first two,” Waite said. “We were not playing with confidence. We were not playing aggressively. We came down to the locker room after the second set, and we told them to go after it because we had nothing to lose and we wanted to get the crowd involved and make it fun. You can see they just kept building and building, and it was fun to watch the finish.”Coming out of the locker room after the second set, the Badgers were able to fight back. Jeffers accounted for five kills to add to her career-high 18. The defense also came around, limiting the Wolverines under a .220 hitting percentage for the rest of the match. Sophomore setter Nikki Klingsporn added to the improved defense with a career-high 13 digs.“We went down in the locker room, and we just said believe in each other and believe in the team,” Jeffers said. “Everyone has got each other’s back. Just go out there and be aggressive with everything you do.”Waite said it was the team’s confidence that helped them reduce their service errors and get back into the game. As the final three sets progressed, the team passed better, which allowed Jeffers to achieve her career day. Wisconsin also made a more concerted effort getting the ball to junior outside hitter Brittney Dolgner, who contributed 16 kills of her own.“Everything comes with confidence,” Waite said. “Once you have confidence and you are still going after it, those things will work. They just had to keep plugging away. We knew it was all in there, in terms of the talent of this group, and they found a balance.”The Badgers go back on the road this week, facing Northwestern in Evanston on Wednesday and traveling to East Lansing to play the Michigan State Spartans on Friday.last_img read more

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Football readies for first road game of the season

first_imgEmily Smith | Daily TrojanOn Wednesday, No. 5 USC continued preparation for their first road game of the season against Cal, focusing on containing the Bears’ aggressive defense.Trojans ready for stout Cal defenseLast year, Cal possessed the worst defense in all of the Pac-12, allowing the most points per game (42.6) and the most rushing yards (3,274). However, new head coach Justin Wilcox has injected new life into the Bears’ defense this year, as the unit looked impressive last week in a win over Ole Miss, sacking the quarterback five times. On Wednesday, USC prepared for Wilcox’s aggressive defensive schemes.   “We worked a lot of Cal’s pressures,” head coach Clay Helton said. “I’ve been really impressed with the blitz packages that they do. Each and every week, it seems to change based on your protection … You look up and they have nine sacks on the year in three games and that’s pretty dang impressive.”Cal senior linebacker Devante Downs is one opposing player USC’s offense will need to keep tabs on. He currently leads the team in tackles (32), sacks (3) and interceptions (2) through the first three games.Wilcox served as USC’s defensive coordinator in 2014 and 2015. While the Cal defense is currently excelling under his direction, the Trojans struggled with him at the helm, giving up over 400 yards per game.USC imitates road environmentFor their first three contests, the Trojans had the luxury of playing in front of the comfort of the Coliseum. This weekend, they travel to Berkeley for their first road game at the California Memorial Stadium. “Obviously this is our first road game,” Helton said. “So we filtered in some in-house crowd noise to be able to function there.”For several young key players, like freshman running back Stephen Carr and freshman kicker Chase McGrath, this will be their first experience playing in a hostile environment.“All of a sudden you’re in a new stadium, a new locker room, there’s crowd noise which you didn’t have for three games straight offensively,” Helton said. “It changes things and you’ve got to try to make sure that you give as much adverse conditions out here so it becomes a comfort level once they get there.”last_img read more

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Draws made for Challenge Cup and Intermediate Hurling League

first_imgThese games will be played on Sunday the 1st of March at 2.30pm.Lorrha Dorrha v Templederry KenyonsPortroe v KillenauleBallingarry v Boherlahan DuallaMoneygall v Drom and InchMullinahone v SilverminesUpperchurch Drombane v Eire Og AnnacartyBorris Ileigh v Moycarkey BorrisMoyne Templetuohy v ToomevaraHolycross Ballycahill v BorrisokaneBallina v Loughmore CastleineyBurgess v Kilruane MacDonaghsNenagh Eire Og v KildanganKnockavilla Kickhams v Clonoulty RossmoreThurles Sarsfields v J K BrackensCappawhite v RoscreaCarrick Swans Bye________________________________________County Intermediate Hurling LeagueFirst team out has home venueFirst round games to be played on Sunday the 1st at 12.00pmFour Groups with top team in each group into semi finalsGroup 1Moyle Rovers v Gortnahoe GlengooleSean Treacys v Arravale RoversGroup 2Cashel King Cormacs v Galtee RoversMoycarkey Borris v ClonakennyGroup 3Rockwell Rovers v BallinahinchKilsheelan Kilcash v Holycross BallycahillGroup 4St Marys v Lattin Cullen GaelsGolden Kilfeacle Bye________________________________________County Junior Hurling LeagueFirst team out has home venueFour groups with top team in each group into semi finalsFirst round games to be played on Sunday the 15th.Group 1Fr Sheehys v Knockavilla KickhamsKnockshegowna v CahirGroup 2Clonoulty Rossmore v ToomevaraNewcastle v MarlfieldGroup 3Thurles Sarsfields v CappawhiteSt Patricks v Clonmel OgGroup 4Gortnahoe Glengoole v NewportBallylooby Castlegrace Byelast_img read more

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Portia Simpson Miller announces retirement from PNP leadership

first_imgCNW 90 SCRIPT – FEB 6 Happy Monday everyone! Today is February 6. We’re taking a look at some of the top stories that are making the news across your Caribbean-American community right here in South Florida.PNP leader and leader of the Jamaican opposition announced yesterday that she will retire as the party’s leader and opposition leader on April 2. The party will convene on March 26 to elect her successor, with nominations opening today February 6 and closing on February 10. Simpson Miller will remain as the MP for South West St. Andrew.South Florida attorney George Crimarco assures Jamaicans they have no need to panic about new travel restrictions imposed by United States President Donald Trump as none of the rules applies to Jamaicans. He, however, cautioned, Jamaicans who hold green cards, against living in Jamaica and making an annual one week entry to the US. He said when the US issues a green card to someone, it intends that individual to live in the US.Hundreds of South Floridians again staged protest rallies in down-town Miami, while thousands more rallied in the vicinity of President Donald Trump’s Maralago estate on Saturday against his executive order banning immigrants from seven nations. Protestors carried protests signs and repeatedly chanted “Hey, hey ho, Donald Trump has got to go”In SportsDown 28-9 at the beginning of the 4th quarter the New England Patriots staged one of the greatest rallies in Super-Bowl history to defeat the Atlanta Falcons 34-28 in the first ever overtime in 51 Super-Bowls.  Playing another phenomenal game, Patriots quarterback Tom Brady won the MVP awardHere’s what’s TrendingA Professor of Pharmaceutical Science at Nova Southeastern University in Davie, South Florida has cautioned people using dietary supplements to improve memory and general brain function there is little scientific proof these supplements have the effect their manufacturers claim.Here is your weather forecast for tomorrowIn Broward it will be partly sunny with occasional showers, with a high of 80 degrees and a low of 66. In Miami-Dade County the high temp will be 81, the low 68 degrees mostly sunny, but with a shower or two.For more information on these and other stories, visit us online at Caribbean nationalweekly.com. Make Sure to pick up your copy of the National Weekly at your nearest Caribbean American outlet.Today’s coverage was brought to you by Grace Soups: Spice up your kitchen with Grace Soups today.  Genuine Caribbean taste enjoyed worldwide!”This has been CNW90, I’m ……………………..last_img read more

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Proven Player… Better Collective lands 7th Børsen Gazelle

first_imgShare Share Submit Better Collective Spotlight: How Betarades.gr is driving engagement through YouTube July 30, 2020 Related Articles Better Collective cautious on quick recovery as COVID drags growth momentum August 25, 2020 Altenar: Supporting expansion plans in Denmark and Portugal August 20, 2020 StumbleUpon Jesper SøgaardLeading industry affiliate Better Collective continues to be recognised as one of Denmark’s fastest growing and most dynamic enterprises, having secured its seventh consecutive Børsen Gazelle Award.Developed by Danish business publication Børsen, the Gazelle Awards recognise the nation’s fastest growth enterprises, who have displayed consistent value for investors and stakeholders.The impressive places Better Collective amongst an elite small group of Danish companies that have been around since the inception of the Børsen Gazelle award.Better Collective, which has built its hyper-successful business by focusing on in-house technology development combined with a deep knowledge of digital consumer trends and communities, is further recognised as a by Børsen as a ‘Super Gazelle’, for its excellent business track record.The Copenhagen based affiliate marketing firm operates leading industry player portal bettingexpert.com. Last October, Better Collective welcomed former Microsoft Europe President Klaus Holse to its board of directors, as the company targets aggressive international market expansion.Jesper Søgaard, Founder and CEO of Better Collective: “I am so proud that we, as a collective, have been able to keep this incredible growth going—and receiving this award is a tangible symbol of our achievements.“For the past seven years, every time we are bestowed with this honour it makes us thankful, and truly motivates us to go further. There will come a point where this type of growth is not feasible as our company expands and our market matures—but that doesn’t deter us from trying to keep the streak going.”last_img read more

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