COVID-19 impact far more complex than 2008 crisis: Sri Mulyani

first_img“The possibility of job terminations comes from companies who cannot operate as usual, such as airlines, hotels and also the manufacturing sector, which is experiencing a disruption in the supply chain. Although there could be effects on the financial sector because it could create NPLs [non-performing loans].”The government is currently preparing a second fiscal stimulus package to cushion the economy from negative effects of the novel coronavirus, especially on tourism and export- and import-oriented industries, especially manufacturing.Read also: Indonesia finalizes second stimulus package to support trade amid virus fearsThis follows last week’s unveiling of a Rp 10.3 trillion (US$722 million) stimulus package to support consumer spending and tourism. Bank Indonesia estimates the country’s economic growth to slow to a three-year low of 4.9 percent in the first quarter, from 4.97 percent in the fourth quarter of 2019. As the government prepares a second fiscal stimulus package to support the economy, Finance Minister Sri Mulyani Indrawati warns that the economic impacts of the COVID-19 coronavirus outbreak will be far more complicated than that of the 2008 financial crisis.Driven by the United States subprime mortgage debacle, the 2008 financial crisis mostly affected financial institutions, banks and the capital market, she explained on Thursday. Meanwhile, COVID-19 is affecting broader business sectors, including tourism, transportation, trade, manufacturing and investment.“[COVID-19] has hit the real economy because it deals with people’s willingness to move around and conduct activities, so the risk would be in the real economy,” Sri Mulyani told reporters after a limited cabinet meeting at the State Palace in Central Jakarta. Sri Mulyani said COVID-19 was also a much more complicated issue as it involves humans and their lives, unlike the 2008 crisis where the effects on the people were more indirect, such as via financial institutions and big corporations.“People’s activities are suddenly partially paralyzed as schools are closed, factories are closed and people are working from home. Therefore, we should pay attention to the impacts [of the virus],” she added.  Read also: Another stimulus package prepared for manufacturing industry as coronavirus spreadsIndonesian Chamber of Commerce and Industry (Kadin) chairman Rosan Roeslani said business players were waiting for policy relaxations related to export and import activities as one of the anticipatory measures to shield Indonesia’s economy from the effects of COVID-19.“Yes, we have talked about fiscal and monetary policies […] We also discussed matters related to exports and imports,” Rosan said, acknowledging that the virus had caused a decline in the sales and production of several industries, including automotive businesses and tourism.However, Rosan denied claims that the coronavirus had resulted in layoffs and a shortage of raw materials, as feared by many business players and policymakers.Indonesian Employers Association (Apindo) chairman Hariyadi Sukamdani said fears over mobility and traveling had severely affected sectors related to travel and tourism, as well as the meeting, incentives, convention and exhibition (MICE) industry.There have been many cancellations of events due to growing concern over the spread of the coronavirus, he said, urging the public to remain vigilant in the short-term.“I think conditions will return to normal within the next three months. However, globally, it really depends on how long it takes for other countries to recover from this issue,” said Hariyadi, who is also chairman of the Indonesian Hotel and Restaurant Association (PHRI). Worldwide, more than 98,000 people have been infected with COVID-19 and 3,300 have died, with China, South Korea, Italy, Iran and Japan the worst affected. Indonesia confirmed on Monday its first two COVID-19 cases and is testing more suspected patients.center_img Topics :last_img read more

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Stocks under pressure as Trump vows to end violent protests

first_imgAsian stocks were set to come under pressure on Tuesday following a dip in Wall Street futures as US President Donald Trump vowed to use force to end violent protests in American cities, souring a previously upbeat market mood.E-mini futures for the S&P 500 fell 0.38 percent and Japan’s Nikkei 225 futures lost 0.34 percent. Australian S&P/ASX 200 futures rose 0.15 percent in early trading.The early indications came after major US stock indexes closed with gains of about 0.5 percent and continued to hover near three-month highs. As Trump spoke in the Rose Garden of the White House on Monday, live television images showed police firing tear gas to dispel demonstrators in Lafayette Park, across the street.“If American consumers were reluctant to come out of their COVID-19 lockdown cocoon fearing a secondary spreader, it’s unlikely they will feel any safer with military Humvees rolling down Pennsylvania Avenue,” Stephen Innes, Chief Global Markets Strategist at AxiCorp, wrote in a note to clients.As Asian markets prepared to open, dozens of cities across the United States were under curfews with the National Guard deployed in 23 states and Washington, D.C.The curfews followed protests over the death of George Floyd, a 46-year-old African American who died in Minneapolis after being pinned beneath a white police officer’s knee for nearly nine minutes. The dollar index fell 0.4 percent, as risk appetite had increased on optimism that the worst of the global economic downturn caused by the coronavirus may be in the past.The biggest concern for bond markets was growing US government debt with the benchmark 10-year Treasury notes yield rising to 0.677 percent from 0.644 percent on Friday.“Most investors are saying (the protests) aren’t going to destroy the economy,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “It’s a roadblock, but it’s not as big as a pandemic.”The protests were largely peaceful on Sunday but turned violent in the evening. On Monday US President Donald Trump urged state governors to crack down on protests over racial inequality that have engulfed the nation’s major cities, as officials extended curfews to prevent a seventh night of looting and vandalism.Markets were cheered by US manufacturing activity turning up slightly from an 11-year low in May. The report was the strongest sign yet that the worst of the economic downturn had passed as businesses reopened, though the recovery from the COVID-19 crisis could take years because of high unemployment.Similarly, in the euro zone, the IHS Markit’s Manufacturing Purchasing Managers’ Index recovered slightly in May from April’s record low, although factory activity still contracted heavily.Oil futures steadied on Monday despite US-China trade tensions with Brent up 1.3 percent to settle at US$38.32 a barrel and US crude slipping 5 cents to $35.44 a barrel.Spot gold added 0.8 percent to $1,739.75 an ounce. US gold futures gained 0.03 percent to $1,737.40 an ounce.In the trade dispute, sources in China said the government had told them to halt purchases of US soybeans after Trump moved to eliminate special treatment for Hong Kong to punish Beijing over its new security laws for the city.Though investors are closely watching for news on medical advances against the pandemic, to markets took in stride mixed news from Gilead Sciences Inc, whose shares fell about 4 percent. Gilead said that its antiviral drug remdesivir provided a modest benefit in patients with moderate COVID-19 given a five-day course of the treatment, while those who received the medicine for 10 days in the study did not fare as well.Topics :last_img read more

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PREMIUMPrabowo has political capital to run in 2024 presidential race, but ‘not enough to win it’

first_imgForgot Password ? Facebook Linkedin Google The Gerindra Party extraordinary congress has again appointed Prabowo Subianto as its chairman, making him a strong potential candidate for the 2024 presidential election, but experts believe more is needed for him to win.Prabowo, who ran against President Joko “Jokowi” Widodo in the 2014 and 2019 elections, has yet to declare that he will run again in 2024. However, some Gerindra executives have said that the current defense minister would consider the possibility if he garnered support from the party’s cadres and the public.Prabowo in a speech at Saturday’s congress did not publicly address the issue despite all party branch leaders having asked him to run again.”Prabowo said in the congress that he would make a decision one year or one-and-a-half years before the presidential election,” party secretary-general Ahmad Muzani said on Satur… Log in with your social account LOG INDon’t have an account? Register here Topics : Prabowo-Subianto Gerindra-Party 2024-presidential-election megawati-soekarnoputri 2024-presidential-candidate PDI-P Jokowi-second-termlast_img read more

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Buyers are chasing affordable homes in Bald Hills

first_imgThe home at 15 Miles St, Bald Hills sold before auction.A Bald Hills home has sold two days before auction amid a strengthening local market.The four-bedroom home at 15 Miles St sold for an undisclosed amount. Coronis Bracken Ridge marketing agent Jack Harvey said the price was significantly more than a previous asking price when the property was with another agency. “We had quite a bit of interest in the home,” he said. “We had 12 groups through in the two weeks prior to the planned auction.”Mr Harvey said buyers were attracted to the location close to the Bruce Highway, schools and shops, and the renovator-style house. More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019He said the Bald Hills market in general was “moving along nicely”.“We’ve seen a 12.5 per cent price increase in the past three years and the average time on market is down seven days in the last year,” he said. “A lot of properties I’m listing (in the area) are selling at the first or second open home. We’re catching up with Bracken Ridge and the surrounding suburbs.” Mr Harvey said buyers were looking to Bald Hills for value and proximity to the city. “We’re seeing a lot of first-home buyers, families starting out and investors,” he said. “We are seeing significant interest from interstate investors because the numbers stack up. “They can’t buy anything 16km from the Sydney CBD for under $1 million, but in Bald Hills they can get investment properties for $400,000-$450,000, and rental demand is pretty strong and there aren’t a lot vacant properties.”last_img read more

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Climate specialist not satisfied with Caribbean preparations towards climate change

first_imgLocalNews Climate specialist not satisfied with Caribbean preparations towards climate change by: – October 14, 2011 Image via: patrickdriessen.blogspot.comClimate Change Specialist Dr Michael Taylor says he is not satisfied that Caribbean governments are prepared to make necessary changes to mitigate the effects of climate change on the agriculture sector.Taylor who is here as part of the 10th Caribbean Week of Agriculture delegates told an interview with the Government Information Service that some improvements have been made.“I am not satisfied but I believe our Caribbean governments are waking up to the possibilities of climate change. We have the CARICOM Climate Chance center in Belize which is trying to play a leading role in informing ministers and heads of government,’ he said.According to Taylor, the increase variability of the climate is almost forcing Caribbean governments to “stop and take a look”.“The heat, the rain, the drought, the hurricanes…I believe that this is forcing Caribbean governments to stop and take a look and I am sensing receptiveness,” he added. He said farming is a vulnerable sector due to the dependence on rainfall.“We need to start acting now because our action now will be a significant determination of what kind of future we will have. We want to get that message out there. It must be considered,” he added.Dominica Vibes News 6 Views   no discussions Tweet Sharecenter_img Share Share Sharing is caring!last_img read more

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No hugs as China football draws up coronavirus battle plan

first_imgThe Chinese Super League (CSL) will be stripped of exuberant goal celebrations – and fans – as it attempts to start during the coronavirus pandemic, reports said on Wednesday. Hugs after goals will be banned under the new guidelines The CSL has ambitions of launching the season in late June or early July, and Chinese football authorities have drawn up detailed plans to keep players and fans safe. The Chinese Football Association (CFA) has taken a keen interest in South Korea’s K-League and Germany’s Bundesliga, which led the way in restarting despite lingering virus fears. CSL matches will be held initially behind closed doors, in step with the K-League and Bundesliga, before fans are gradually allowed in, state media said. Supporters will then have to sit at least one metre (three feet) apart, the Beijing Youth Daily said, while substitutes will also be spaced out on the sidelines and must wear masks. “In addition, for the game itself, the league will also cancel (child) mascots, team handshakes, group photos and other activities,” the report said. “Photojournalists’ area will be limited to behind the goal line and the sideline. “After a goal is scored players are not allowed to gather and hug, all celebrations will be replaced by applause.” The anti-virus plans need government approval for the season to kick off. Read Also: Tyson Fury Vs Deontay Wilder III in search for new venue, date The CSL, which was supposed to start on February 22, became one of the first sporting casualties of the coronavirus outbreak when it was indefinitely postponed in January. However, Chinese football is edging towards starting the season after authorities declared that they have mostly curbed local infections. FacebookTwitterWhatsAppEmail分享 Loading… Promoted Content2020 Tattoo Trends: Here’s What You’ll See This YearThis Guy Photoshopped Himself Into Celeb Pics And It’s HystericalThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreWhat Are The Most Delicious Foods Out There?Beautiful Mutations: 15 Staggering Photos Of HeterochromiaWho Is The Most Powerful Woman On Earth?6 Stunning Bridges You’ll Want To See With Your Own EyesWhich Country Is The Most Romantic In The World?7 Ways To Understand Your Girlfriend Better7 Black Hole Facts That Will Change Your View Of The UniverseTop 7 Best Car Manufacturers Of All TimeFantastic-Looking (and Probably Delicious) Bread Artlast_img read more

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Alex Hodgkinson revives rugby career after leaving Syracuse football team

first_img Facebook Twitter Google+ Published on October 13, 2015 at 9:59 pm Contact Michael: mdburk01@syr.edu Alex Hodgkinson lay in his bed on a Tuesday night in early August, unable to fall asleep. Doubt crept into his mind after the third day of training camp with the Syracuse football team, for which he was a walk-on kicker and punter.Hodgkinson knew the other punters on the team outperformed him that day. He stayed in Syracuse all summer to work on his craft, but didn’t think he was progressing any longer.The thought never left his mind: He wanted to play rugby.“I just began thinking to myself, ‘Is this really what I want to be doing anymore?’” Hodgkinson said.He stayed up all night. He called his dad, but he didn’t answer. The next day, without talking to anyone, Hodgkinson went to Steve Gregory, SU’s special teams quality control coach, and then to head coach Scott Shafer. His mind was made up.AdvertisementThis is placeholder textHodgkinson and Shafer reflected on his time with the team. They had a heart-to-heart and “shed a few tears.” And then, Hodgkinson left.“It was a very quick decision,” Hodgkinson said. “I’m instinctive like that. I felt it and it was in my heart. I didn’t want to go in there another day without feeling like I was 100 percent in it.”Not long after leaving the football team, he joined the Hammerheads — Syracuse’s club rugby team. He’s hoping to make the men’s collegiate All-American team and, eventually, the United States national team. Without the rigorous commitment to Division I football, Hodgkinson’s honed in on reviving his rugby career and jumpstarting his business-related goals.He first picked up rugby as a kid living in London. He worked his way up the ranks and played for the Wasps, a professional club, until leaving for SU in 2012.As a freshman, he played for the Hammerheads and led the Empire Rugby Conference in both kicking and touchdown points, Syracuse head coach Robert Wilson said.Re-joining the rugby team after leaving the football team was a seamless process. He was already one of the best players on the team three years removed from the last time he took the field.Playing football enhanced Hodgkinson’s physical capabilities, with Wilson adding that Hodgkinson is now bigger, faster and stronger than nearly every player on the rugby team.“He’s also way ahead of most players in terms of technique and skill, which is huge,” Wilson said. “He’s been able to do things that we’re still trying to teach others to do because he’s been doing it since he was 8 years old.”Hodgkinson plays fly-half, which Wilson described as the rugby equivalent of a quarterback. It’s allowed him to use his decision-making skills, something not necessarily required of him as a football kicker.Earlier this year, a director from USA Rugby’s High Performance Player Pathway came to watch the Hammerheads play a game. He was especially impressed with Hodgkinson and invited the senior to a tryout for the men’s collegiate All-American team. That tryout will take place later this academic year.Hodgkinson wants to climb the ladder of national teams, but he has other ambitions to fall back on if rugby doesn’t pan out. He recently started a car-racing club and teaches people in Syracuse how to drive high-performance cars on racetracks. He also plans to start a silver jewelry business with Sam Reimnitz, another player on the rugby team.Despite leaving football behind, his aspirations are not lost on his former head coach.“He’s going to do great,” Shafer said. “I told him that I’m going to stay in touch with him because I want to be a part of some big idea he has and try to make some money off him some day.”Hodgkinson misses Shafer and the football team. He misses the camaraderie of the team. He misses being on the sideline for games and in the locker room after wins. He wishes he could walk into the weight room and say hello to Will Hicks, the assistant athletics director for athletic performance.When he sees his former teammates on campus, he sometimes questions himself.There will always be some reason to doubt the decision he made, Hodgkinson said. But ultimately, he believes he made the right one.“At the end of the day, you want to be playing your sport,” he said. “And when I come out here and I get this buzz, it makes it all worth it.” Commentslast_img read more

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Practice focuses on facilitating the running game in anticipation for Cal

first_imgEmily Smith | Daily TrojanThe football team looks to regain control of the Pac-12 South division with a win against its in-state rivals Cal following a much-needed win against Oregon state.The offense focused heavily on its run blocking scheme today, perhaps in anticipation of a heavier workload for the Trojans’ tailbacks. They certainly seem to deserve it, after senior running back Aca’Cedric Ware broke out for a career night last weekend with 205 yards and three touchdowns on 17 carries. Along with sophomore tailback Vavae Malepeai, who picked up 101 yards, and sophomore tailback Stephen Carr’s score, USC’s envisioned three-way ground game finally appears to be coming to fruition, even if a bit later than hoped. Life should get easier for freshman quarterback JT Daniels when opponents have to respect the run as well. But USC will be without Carr, who suffered a high ankle sprain, for the next few weeks.Helton praised all three running backs for their dominant effort.“I thought [Malepeai] and [Ware] and [Carr] really ran the ball violently between the tackles,” Helton said. “It was great to get that running game going, have over 300 yards, and yes, it makes play calling so much more easier cause you get the one on one matchups and those are easy reads for a young quarterback.”Defensive coordinator Clancy Pendergast commended his unit’s scrappy performance as well.“We wanted to come in here and stop the run, and they had 41 yards rushing, so that was our main goal to hold them under 75 yards running,” Pendergast said. “Our guys rose up to the occasion … I thought the guys executed the plan for the most part pretty well.”However, it’s hard to say whether USC’s commanding victory last week was the result of a surprise coaching change that saw Helton assume play calling duties and bring in Tim Drevno to handle the offensive line following the firing of offensive line coach Neil Callaway, or if it had more to do with Oregon State’s talent level. Helton spoke about the adjustments he made prior to the game.“I’m always harder on myself,” Helton said. “The emphasis going in, I just wanted to get us in a flow, let the kids play with tempo, not try to overthink things … let them play fast.”Helton also downplayed his own decisions, giving the credit to his players’ execution.“I though they brought a great attitude, and great effort, and I told them ‘those are the only two things you can control,” Helton said. “I know it’s been a hard week, it’s a tough week, but you’re gonna set the tone.’ And they did.”Either way, the Trojans are still in the thick of the Pac-12 race, sitting one game behind Utah, the South division leaders. That being said, USC will need to win out the remainder of the year in three straight rivalry games, the first coming against the Bears this weekend. Rivalry WeeksWith three-fourths of his freshman season over, Daniels isn’t letting up in the crucial final three weeks that will make or break USC’s season. “I’m just so into it right now,” Daniels said. “You’re coming into the home stretch, your body’s tired, your mind’s tired … it’s college football. It’s USC football. It’s a big stage.”Daniels stressed the importance of film in making sure that he’s ready for the three classic rivalry matchups against Cal, UCLA and No. 3 Notre Dame, while also speaking humbly about his own limitations.“I’m not as good as someone like Sam Darnold, just to be frank,” Daniels said. “I can’t do what a guy like [Darnold] can do. For me, if I’m going to succeed, I know that I have to be the most prepared to know what’s gonna happen. … I just have to know based off of preparation and film study who’s gonna be where and have to know where I gotta throw the ball.” Injury UpdateFreshman cornerback Olaijah Griffin returned to practice Tuesday. He will continue to be monitored as his shoulder injury heals. Sophomore linebacker Levi Jones returned from practice after missing last week with a hip injury.Sophomore quarterback Matt Fink has resumed his throwing routine as he recovers from three broken ribs. He is not yet cleared for contact.Junior wide receiver Michael Pittman sat out due to a bone bruise in his shoulder. He is doubtful to play.last_img read more

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Jamaica murder rate passes 900 in 2017

first_imgJamaica’s murder rate continues to climb unabated.Police blotters indicate that more than 900 murders have been committed on the island with some 285 days (seven months and 16 days) gone in 2017.PandemoniumOn the night of Tuesday August 15, pandemonium broke out at Chancery Lane in Kingston, close to the middle class community of Meadowbrook.A man was murdered in full view of people at a bus stop, route taxi operators and other members of the public at the busy intersection.The victim has been identified as 29-year-old Damain Forrester, of a Greater Portmore address in St CatherineForrester had left work and was standing by a section of the bus hub on Chancery Lane in Meadowbrook.  The morning of that fateful day he had received a call that caused him to worry. “He was just not himself,” said a co-worker. “His wife just had a baby about one or two weeks ago. I don’t know but that call bothered him.”Killer dressed in blackAbout 9:47 PM a white car drove up near to where he was and as it stopped a man dressed in black from head to toe exited the vehicle. Then the car drove off. Damian was at the bus stop with co-workers. The man who had stepped out of the car was a killer.The killer calmly walked up to Forrester and shot him once in the head before walking off for a moment, turning back to his victim and pumping at least six more shots in his head as he lay on the ground. The shooting caused a mini stampede as bystanders scampered for cover.The gunman then rushed to the white car parked on another section of the roadway, for an easy escape.Damain had been working at a nearby supermarket for less than a month. Gang related, reprisals, domestic disputesThe troubling murder rate has the Jamaican authorities and law enforcement scratching their heads as lawless marauders run amok. Police in the island claim the majority of murders are gang-related, or reprisal killings. The police also claim a number of murders are the result of domestic disputes.Visitors to the island are rarely killed and make up about two percent of all homicides committed in the last decade.last_img read more

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bettingexpert climbs two places after three wins at Hereford

first_img Russell Yershon: Fan engagement is vital during crisis times  April 7, 2020 Better Collective moves fast to mitigate COVID-19 as esports journey begins May 15, 2020 Submit Stephen Harris from bettingexpert climbed two places in the Tipster Challenge after collecting 11.57 points from three race victories at Hereford.The horse racing guru bypassed Paddy Power and the experts from Timeform to move up to 11th place with a 3.09-point average after 17 weeks of competition.Meanwhile, Russell Yershon endured a frustrating day at Hereford despite landing the first winner on Chef D’Oeuvre. The former Head of Sportsbook for Titanbet picked up just 1.88 points to enter in 14th.Race Winners at Hereford:Yorgonnahearmeroar – 7/1Chef D’Oeuvre – 15/8Ice Cool Champs – 4/7Final Nudge – 4/1Goodtoknow – 4/1Toby Lerone – 11/2Runasimi River – 7/1Tipster Challenge 2016/17 Leaderboard Related Articles Share ‘Better for Bettors’: Better Collective’s formalised approach to sustainable development June 15, 2020center_img StumbleUpon Share bettingexpert, Timeform and a rotation of guests will be providing expert tips for a specific Wednesday race meet.We will keep record of points won each week and the number of race wins for each.The guests will compete individually, with their points going up against the average totals for bettingexpert and Timeform.The new tips will be published on Wednesday ahead of the race meet, and the results will be available on Thursday.For the competition, we will assume that all selections are backed with 1 point.Lost tips will count as 0 and won bets will be added to the leaderboard at SP value.For example, if bettingexpert backs a winning horse at 8/1, they will get 8 points. RankTipsterRace WinsPoints 1Alan Alger – Betway311.41 2Jacob Johns – Easyodds37.72 2Phillip Anderson – Before The Off36.17 3Ciaran O’Brien – William Hill35.29 4Ben Cleminson – Square in the Air14.50 5John Hill – Coral24.25 6Alex Donohue – Ladbrokes24.11 7Michael Shinners – Sky Bet24.00 8Stuart Tilly – Argyll Entertainment14.00 9Trevor Keane – Sportego23.50 10Matthew Hulmes – Betfred23.25 11bettingexpert1.353.09 12Timeform1.763.07 13Paddy Power13.00 14Russell Yershon11.88 15Charlie McCann – BetVictor11.75 16Stephen Power – @racingblogger21.69 17John Cruces – Dafabet11.25 18Michael Whittle – Team FA10.91 19Ed Nicholson – Unibet10.73last_img read more

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