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Jokowi criticizes lackluster management of potential $116b foreign investments

first_imgPresident Joko “Jokowi” Widodo has criticized what he claims is the lackluster management of potential foreign investments amounting to Rp 1.6 quadrillion (US$116.8 billion) to date.“It’s a tremendous figure, it’s almost the same as the national state budget. However, it has never been managed properly,” Jokowi said in his speech at the National Investment Coordination Meeting in Jakarta on Thursday.The President went on to say that Indonesia no longer needed to lure in new investors, given the considerable number of potential investments that the country had already managed to attract — but only if all could be realized.  Furthermore, he noted that there were investment projects worth Rp 708 trillion that had been stalled in the country due to a number of factors last year. Read also: BKPM promises to ‘debottleneck’ $50b stalled investment projects“I call on every regional head, every PTSP [One-Stop Integrated Service] head to serve [all investors]. If there’s any issue, please help them resolve it. They can create so many new jobs for our people,” Jokowi said.He said that doubling down on the investment front was a surefire way to create job opportunities for the roughly seven million unemployed citizens across the country.Jokowi said the state budget contributed only 16 percent to the country’s economic growth. The figure increases to 23 percent if the state budget is combined with the budgets of regional administrations.The country’s gross domestic product (GDP) grew 5.02 percent last year, lower than the 5.17 percent recorded in 2018.As the second-largest contributor to GDP after household spending, investments expanded 4.06 percent in the fourth quarter, slower than 6.01 percent growth booked in the same period in 2018, Statistics Indonesia data shows.Topics :last_img read more

Jakarta bar Amigos visited by COVID-19 patient suspends operation amid virus fears

first_imgAmigos Bar and Cantina in Kemang, South Jakarta, has decided to suspend its operation for 14 days as a precautionary measure to stop spread of the novel coronavirus disease (COVID-19). Fears about the outbreak surged after a woman was declared positive for COVID-19 after spending an evening at Amigos on Feb. 14. At the bar, the woman interacted with a Japanese national who was later found to have the illness as well.“We have to keep up the healthy environment of the location. We have been in business for 40 years. Amigos always maintains the safety of the employees and the customers,” Mulles Ron, founder of Amigos, said as quoted by antaranews.com. He said local health agency officers had come to examine the employee and screen the food and drink to make sure that Amigos was free of the virus so that the public could regain confidence in the business.“We have invited a team from the health agency as well as private professionals to confirm the health environment in Amigos restaurant,” he said.Read also: WHO calls for calm after Indonesia confirms cases of COVID-19He said the restaurant had also provided hand sanitizers for the employees and the customers.“We hope that the public will not panic. The employees here are all healthy,” he said.Agus, the manager of Amigos, said that so far there were no employees who complained of being sick. He said there were 30 people working in the restaurant, including himself.Amigos Bar and Cantina is located in the Kemang Villa Club on Jl. Kemang Selatan, Bangka subdistrict, South Jakarta. The Mexican-themed restaurant has been in operation since 1979. (gis)Topics :last_img read more

Mnuchin predicts US economic ‘bounce back’ as pandemic spending rises

first_img‘Grave situation’ “Make no mistake, it’s a really grave situation,” he said on ABC’s “This Week.””This is the biggest negative shock that our economy, I think, has ever seen. We’re going to be looking at an unemployment rate that approaches rates that we saw during the Great Depression.”Hassett said debt levels have reached a point where “it can be a long-term negative for growth,” and should be dealt with along with short-term stimulus in the next phase of legislative action.”Again, you have to understand that this is an unprecedented shock to the economy, that we’re going to be looking at second-quarter negative GDP growth that’s probably north of minus 15, minus 20 percent.”It’s the biggest negative shock that we’ve seen since the Second World War, and with that kind of emergency, the good news is we’ve got this bipartisan action, this build-a-bridge-to-the-other-side, but there’s still going to be a heck of a lot of other problems that pop up.” US Treasury Secretary Steven Mnuchin insisted Sunday the US economy will come roaring back even amid warnings from another White House adviser of longer-term impacts of the coronavirus pandemic’s unprecedented shock to the economy.Mnuchin’s upbeat assessment came amid skyrocketing unemployment figures and forecasts predicting a deep contraction in economic activity this year.In an interview with “Fox News Sunday,” Mnuchin defended the soaring deficit spending as key to reviving the economy, even amid rising signs of Republican pushback in Congress. In a related aside, he said the administration was considering loans to troubled energy companies, but insisted there would be no shareholder bailouts.”I think as we begin to reopen the economy in May and June you’re going to see the economy really bounce back in July, August, September,” he said.”And we are putting in an unprecedented amount of fiscal relief into the economy. You’re seeing trillions of dollars that’s making its way into the economy, and I think this is going to have a significant impact.”Congress this week passed a new $483 billion economic relief bill, adding to the massive $2.2 trillion emergency package passed in mid-March. Another big package, this one for struggling state and local governments, is under discussion.But resistance to more spending appears to be growing among some Republicans, exemplified by Senate Majority Leader Mitch McConnell’s suggestion this week that it would be preferable for states to file for bankruptcy.McConnell’s comments were angrily denounced by Democratic and some Republican governors, and have so far not been echoed by the White House.”As I’ve said, this is a war. We’ll win this war,” Mnuchin said. “If we need to spend more money we will, and we’ll only do it with bipartisan support.”The secretary brushed off concerns that the national debt is expected to exceed GDP this year.”We’re going to need to look at, over time, how we deal with that issue,” he said. “But right now we’re in a war and we have to protect American workers and American business. And we’re going to do whatever we need to take to do that.”White House economic adviser Kevin Hassett, however, warned in a separate television appearance that the impact of the pandemic has been so severe, with some 26 million people filing for unemployment benefits so far, that it could have long-term effects. Topics :last_img read more

KPK criticized for official car procurement plan

first_imgIndonesia Corruption Watch (ICW) activist Kurnia Ramadhana said the plan to purchase official cars showed the deterioration of the antigraft body’s integrity under Firli’s leadership. He called the procurement “unethical” because it was occurring during the COVID-19 health and economic crisis.“As leaders of an anticorruption institution, they should understand and be sensitive to our current situation caused by the outbreak, which has devastated the economy,” Kurnia said in a statement on Friday.He added that the plan was part of a long list of “hedonistic” practices by current KPK leaders, following a recent brouhaha surrounding Firli’s use of a private helicopter service for a personal trip in June.The KPK supervisory council found Firli guilty of violating the comission’s code of ethics in September for the taking the helicopter trip – the first time a KPK chair has faced such a sanction. Watchdogs and a former Corruption Eradication Commission (KPK) commissioner have criticized the antigraft body’s recent move to procure cars for its high-ranking officials and supervisory board members, saying the plan is “against the commission’s values”.The House of Representatives recently approved the KPK’s budget for 2021, which includes a plan to procure official cars for the agency’s commissioners and other high-ranking officials.While the budget for the vehicles has yet to be determined, it was previously reported that the KPK had allocated Rp 1.45 billion (US$98,209) for a new car for chairman Firli Bahuri and Rp 1 billion each for cars other commissioners. Read also: Watchdogs’ grim report says KPK has ‘lost public trust’ in six months under FirliFormer KPK commissioner Bambang Widjojanto also criticized the procurement, saying it was in contrast to the commission’s public image as an efficient and effective institution that upheld sensible values.“[Expensive cars] are inefficient and ineffective because they don’t directly improve the quality of the country’s graft eradication campaign,” said Bambang, who served as KPK commissioner from 2011 to 2015.KPK supervisory council chair Tumpak Hatorangan Panggabean said the council would reject the official cars. He claimed the council members were not involved in the decision to purchase the cars.“We never suggested the procurement of official cars for us. We don’t know where the proposal came from,” Tumpak said on Thursday, as quoted by kompas.com.During a press briefing on Friday, KPK secretary-general Cahya Harefa defended the plan, saying official cars were necessary to support the KPK’s high-ranking officials in carrying out their duties.However, he said the commission would reevaluate the plan in response to public criticism by discussing its 2021 budget with the National Development Agency (Bappenas) and the Finance Ministry. Cahya said spending for the cars would follow the government’s standard.“Currently, all high-ranking officials are given transportation benefits that are included in their monthly paycheck,” said Cahya. “If the plan for official cars is approved for next year, they won’t receive the transportation benefits anymore.”Topics :last_img read more

Arsenal face stiff competition in race for Newcastle’s Matty Longstaff on free transfer

first_imgAdvertisement Comment Metro Sport ReporterMonday 23 Mar 2020 1:53 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link1.4kShares Arsenal face stiff competition in race for Newcastle’s Matty Longstaff on free transfercenter_img Matty Longstaff has attracted the attention of clubs across Europe (Picture: Getty Images)Arsenal are one of a number of clubs ready to pounce and snap up Newcastle United midfielder Matty Longstaff on a free transfer this summer, with the youngster’s contract set to expire at the end of the season.The 20-year-old made his debut for the Magpies this season and has scored three goals in nine appearances for Steve Bruce’s side.His elder brother Sean already established his place in the Newcastle side last season, but Matty burst onto the scene in October, scoring the winner in a 1-0 victory over Manchester United.He may not have played much, but such have been the level of his performances that he has gained admirers across the continent, with Newcastle unable to agree a new contract with him.AdvertisementAdvertisementADVERTISEMENTArsenal are considering snapping up the young midfielder, but the Sun credits an incredible list of teams across Europe with wanting to do the same.Everton, West Ham, Borussia Dortmund, Ajax, Club Brugge, Inter Milan and Atalanta are all thought to be monitoring Longstaff’s situation and considering making him an offer in the summer.A compensation fee would need to be paid, but it would only be around £400,000, which would tempt clubs into the signing which would be almost no gamble at all at that price.More: 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 CityOlder brother Sean has also been strongly linked with a Newcastle exit, with Manchester United showing serious interest last summer, but the Magpies set an asking price of £50m for the 22-year-old, who has a contract until 2022.Newcastle boss Steve Bruce is still hoping that both Longstaff brothers will sign new contracts and extend their stays at St James’ Park.‘Look, we always want to keep your best young players, especially if they’re Geordies, of course,’ said Bruce last month,‘Let’s hope they both get tied up.’Negotiations have continued, but club and the player’s representatives cannot agree on terms as yet.MORE: Arsenal vow to pay all staff until end of April despite no Premier League footballMORE: Gabriel Martinelli sets out ambitious trophy targets for his Arsenal careerFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Advertisementlast_img read more

Varma rebounds from first-half loss as market settles after Brexit

first_imgUnlisted equities generated a 15.4% return in the nine-month period, up from 9% in the same period last year, and private equity produced 8.1%, just under the 9% reported for the comparable year-earlier period.The pensions provider said it made good returns from fixed income investments thanks to falling interest-rate levels and lighter credit-risk pricing, with the asset class returning 4.2%, up from a 0.2% loss.Real estate, meanwhile, ended September with a year-to-date loss of 0.4%, down from the 2.3% positive return in the year-earlier period.Property investments were hit by write-downs made in response to renovations and changes in the market situation.Varma’s total assets grew to €42.8bn at the end of September from €40.8bn 12 months before.Its solvency capital increased to €10.1bn from €9.5bn, and the solvency ratio stood at 31% at the end of the reporting period, up slightly from 30.6% at the same point in 2015.Murto warned that low interest rates would be particularly challenging if they continued for long.He said investment returns had been at a good level since the financial crisis, although the investment environment had been “highly exceptional” in this period, notably in terms of interest rates. “It is especially important to note that zero interest rates have not yet had a negative effect on pension investors’ returns,” he said.“If the interest-rate level remains at zero for a long time, however, achieving good returns on accrued pension assets will be a major challenge.” Varma, the €42.8bn Finnish pensions insurance company, saw its investment returns bounce back in the third quarter, bringing the year-to-date return to 3.1% by the end of September after posting a loss of 0.3% at the half-year stage.Risto Murto, Varma’s chief executive, said: “By the end of September, Varma’s investment returns had made a clear recovery from the post-Brexit market shock.”The 3.1% return compares with the 1.1% return produced for the same period last year.Unlisted equity investments and private equity funds generated the highest returns in the period between January and September, Varma said, adding that, in a zero-interest environment, fixed income investments had also produced very good returns.last_img read more

Monday Wrap Up

first_imgCongratulations to the East Central Trojans on winning their 4A sectional title last Friday night against Edgewood High School.  Unfortunately, the Batesville Bulldogs came up one touchdown short against the Brownstown Central Braves.Girls basketball got underway this past week.  It appears that Greensburg, Lawrenceburg, and South Ripley are 3 of the teams to beat in this area.  It is very early, so we will have to wait and see how things progress.In recent blogs I have mentioned athletes who had great fall seasons.  I want to add 2 names to that list.  Lauren Kelley of Franklin County High School who was an individual sectional champion in cross country, and Georgia Gratz of Batesville High School who finished her career as one of the most prolific scorers in soccer for this area.  Congratulations, Ladies!last_img read more

Onazi joins another Turkish club

first_imgRelatedPosts Mikel joins Turkish side in permanent deal Onazi undergoes successful surgery  Onazi committed to playing for Nigeria  Nigerian midfielder Ogenyi Onazi on Wednesday left Trabzonspor to join Yukatel Denizlispor, another club of Turkey’s top-tier football league. Denizlispor confirmed the arrival of Onazi on a free transfer on their Twitter account. The club said Onazi and Denizlispor reached an agreement for a six-month contract with an option for a further one year. Earlier on Wednesday, Super Lig title contenders Trabzonspor terminated their contract with Onazi. The Black Sea club said on their website that Onazi’s deal was ended by mutual termination so he became a free agent. The 27-year-old central midfielder had a contract with Trabzonspor until May 2020. A former Lazio player, Onazi joined Trabzonspor in 2016. He scored seven goals and made four assists in 79 matches for the Turkish club. Onazi was a Nigerian international playing for the African team in the 2014 FIFA World Cup in Brazil. He was a part of the Nigerian team for the 2018 FIFA World Cup but he didn’t play in the tournament. Onazi had 51 appearances for his nation since October 2012.Tags: Ogenyi OnaziYukatel Denizlisporlast_img read more

Cricket News Tim Paine answers reporter’s phone during press conference, replies ‘Check your Emails’

first_imgHowever, Paine dismissed those suggestions. “We always have discussion post game but in terms of being on a different page, no. I think we are pretty clear on what we’re trying to do. Yesterday afternoon – and to be fair probably the first hour in the morning then the first hour after lunch we got it slightly wrong. It can sometimes look like that but we know what we’re trying to do. Sometimes you don’t quite execute and teams can get away from you and that’s what happened,” Paine said. New Delhi: Tim Paine, the Australian cricket team skipper had a very tough day 2 in the Sydney Test against India. Cheteshwar Pujara (193) and Rishabh Pant (159*) had blasted centuries as India notched up their second-highest total in Australia, finishing on 622/7 declared. The total has more or less assured India of a maiden Test series win in Australia. Despite all the adversity facing Paine and his side, there was still a moment of fun in the press conference at the end of the day. The Australian skipper was addressing journalists about the state of play when a reporter’s phone rang. Paine decided to pick up the call and what followed was hilarious.Paine picked up the phone and responded, “Tim Paine speaking? Who is it sorry? Oh, okay. Who are you after? Casey in Hong Kong. Oh, Martin, allright. He is in the middle of a press conference, can I get him to call you back? Alright, no worries. I’ll tell him to check his emails. Alright, thanks Casey. Cheers.” Paine then told the journalist, “Check your emails”. The exchange resulted in plenty of laughter and it lifted the mood.Read More | India vs Australia, live cricket score: Harris 50 after Kuldeep strike However, the exchange did not hide the fact that it was yet another tough day for Australia in the field, thanks mainly to the exploits of Pujara and Pant.Pujara brilliantThe Australian skipper was generous in his praise for Pujara, saying his discipline was outstanding. “We tried to bounce him. We’ve tried lots of different things. He’s faced about a million balls this series. We’ve tried wide of the stumps, at the stumps, Nathan Lyon’s been over and around, I don’t think there’s too many things we haven’t tried and he’s been too good for us,” Paine said.Read More | Cheteshwar Pujara, Rishabh Pant and a day of records at the SCGAustralia have been made to toil for 170 overs in Melbourne and here in Sydney, they were made to bowl 160 overs on a wicket which lacked the pace and bounce of previous years. Paine said the team was frustrated at the quality of pitches but added the onus was on them to perform as a side.Read More | Pujara, Rishabh Pant centuries decimate Australia in Sydney Test“It is what it is. We just have to play better than what we have. The pitch here and the pitch in Melbourne didn’t make us bowl as badly as we probably we have in this test. We’ve just been outplayed. Both teams have had similar conditions. But from me, who also loves watching Test cricket, I’m sure guys would like to see a bit more pace and bounce in Australia. Something we’ve probably become accustomed to in Australia but it is what it is,” Paine said.No confusionAustralia’s approach and planning was also brought into focus after India totally outplayed them on day 2. David Saker, the bowling coach of the side, said there was ‘some confusion’ in the execution of the bowling plan, with some bowlers not happy with the tactics employed. “I think the bowlers wanted one thing, Tim wanted one thing. That’s not been the case as the general rule but when you were watching from the sideline you could see there was some confusion. Last night we talked quite heavily about the day, more because we thought it was a really disappointing day and we just wanted to get our point across. Some of it was quite aggressive and that’s not like me usually. I was quite animated, and I know I was not the only one. JL (Langer) wasn’t happy. The bowlers know that,” Saker told in an interview to ABC Grandstand.center_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more