Indonesian stocks battered by profit-taking, hit sixth circuit breaker in month

first_imgRead also: First time in history: Shorter trading hours for Indonesian stocks amid COVID-19The rupiah, meanwhile, depreciated by 0.93 percent to Rp 16,320 per US dollar. Since the beginning of the year, the Indonesian currency has weakened by 17.7 percent against the greenback.The plunge in the JCI following last week’s rally was driven by a selling spree among domestic investors. Foreign investors, meanwhile, purchased more Indonesian shares than they sold, registering a net buy of Rp 14.19 billion.“Investors are taking profit out of the stock market after share prices rallied for two consecutive days last week,” Panin Sekuritas analyst William Hartanto told The Jakarta Post on Monday. “Last week’s rally was merely a technical rebound,” said William, referring to the fact that the world’s main problem, the COVID-19 pandemic, had yet to be resolved.The JCI concluded its trade in positive territory on Friday, gaining 4.8 percent in a day. The day before, the index had recorded a 10 percent gain in a session following the United States $2 trillion fiscal support that pushed Wall Street northward.Last week, the main gauge added 8.36 percent to its value, but that still leaves a loss of 28 percent so far this year.On Monday morning, stocks listed in other Asian markets also suffered hard hits. Singapore’s index gauge plummeted by 4.08 percent, Tokyo’s plunged 3.07 percent, while Hong Kong’s and Shanghai’s were also down by more than 1 percent as Wall Street was closed in the red.Read also: Indonesian stocks soar 10% but COVID-19 risks loomThe spread of COVID-19 is still affecting global markets. The pneumonia-like disease has infected more than 700,000 people worldwide and killed almost 34,000. In Indonesia, the latest data shows that the virus has infected almost 1,300 people and killed 114.William projected that the JCI could still decline further than the 3,900 level it hit earlier last week.“Looking back, the JCI could decline by 50 percent during an economic crash, so I think it could still continue to decline to around the 3,200 to 3,400 level,” he said, adding that he expected the index to continue its downtrend.As of 11:31 a.m. after trading had resumed, the JCI’s decline was trimmed to 4.1 percent.Topics : Indonesian stocks hit another circuit breaker on Monday morning, the sixth time this month, as the main gauge, the Jakarta Composite Index (JCI), plunged by 5 percent after last week’s rally.Indonesia Stock Exchange (IDX) halted trading for 30 minutes at 10:20 a.m. as the index was down 5 percent at 4,318.29 points with the transaction volume standing at Rp 1.75 trillion (US$106.68 million), trading director Laksono Widodo told the press via text message.As many as 300 stocks were in the red on Monday morning, led by consumer goods giant PT Unilever Indonesia, which hit the auto-rejection limit of 7 percent, followed by gold miner PT Aneka Tambang (-6.96 percent) and state-owned lender Bank Mandiri (-6.88 percent).last_img read more

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Fitch affirms Indonesia’s BBB rating with stable outlook despite vulnerabilities

first_imgTopics : However, if the central bank financing goes beyond 2020 it may raise the potential for government interference in monetary policymaking and that could undermine investor confidence, Fitch warned. “This may be mitigated by Indonesia’s generally disciplined monetary policy stance of the past few years, which reinforces our belief this will be a one-off [policy].”Fitch warned that Indonesia’s dependence on foreign portfolio financing and commodity exports left it vulnerable to renewed bouts of external risk aversion and other shocks.“The government remains open to any stimulus to boost the economy, but we will also remain accountable. They considered this to be prudent policymaking,” said Finance Minister Sri Mulyani Indrawati responding to Fitch’s announcement, adding that the burden-sharing scheme with the central bank was being executed based on prudent monetary and fiscal practices.“We have succeeded in giving credit rating agencies confidence that the government has a carefully designed policy framework” to support the economy, she went on to say. “Our forecasts are subject to considerable risks, in particular due to a continued spread of COVID-19 within Indonesia,” the rating agency said in a statement. “The government has responded swiftly to the crisis with a broad range of relief measures to support households and companies, including small and medium-sized enterprises.”The government has allocated Rp 695.2 trillion (US$47.5 billion) to stimulate the economy, which shrank 5.32 percent in the second quarter as household spending and investment tumbled. The government has also widened the budget deficit target to 6.34 percent of GDP.“We believe the government is likely to resume adhering to the 3 percent-of-GDP deficit ceiling by 2023” Fitch said, expecting Indonesia’s fiscal deficit to narrow to 5 percent in 2021 and 3.5 percent in 2022 as most of the pandemic-related spending was seen as temporary.The government and Bank Indonesia’s (BI) $40 billion debt monetization scheme is expected to reduce the government’s direct interest costs and “is unlikely to generate inflationary pressures”, according to the rating agency.center_img Credit ratings agency Fitch Ratings has affirmed Indonesia’s long-term foreign currency issuer default rating at “BBB with a stable outlook”, the lower medium investment grade.Fitch cited a favorable medium-term growth outlook and low government debt-to-GDP ratio against high dependence on external financing among the reasons for retaining the rating, but also noted issues around low state revenue and lagging structural indicators.Fitch expects Indonesia’s economy to shrink 2 percent this year due to the impacts of the coronavirus pandemic, which has made a significant dent in household spending and investment. However, it forecast a rebound to 6.6 percent growth next year thanks to low-base effects and 5.5 percent growth in 2022 supported by a renewed push for public infrastructure development.last_img read more

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Governor Wolf Announces Federal Recovery Funds for Allegheny County

first_imgGovernor Wolf Announces Federal Recovery Funds for Allegheny County August 08, 2019 SHARE Email Facebook Twittercenter_img Environment,  Press Release Harrisburg, PA – Governor Tom Wolf announced today that the U.S. Small Business Administration (SBA) approved his request to declare a disaster in Allegheny County after intense storms produced damaging flash flooding between July 21 and 22, 2019.“Increasingly, citizens throughout the commonwealth are being negatively impacted by fast-moving, intense storms that cause damaging flash flooding,” said Governor Wolf. “This flooding occurs with little or no warning, and those affected rarely have time to prepare. We want families to know they have a financial lifeline available to them if they need it through the SBA.”Homeowners, renters and businesses impacted by the flooding in Allegheny County, as well as neighboring counties Armstrong, Beaver, Butler, Washington, and Westmoreland may be eligible for low-interest disaster loans through the SBA Disaster Loan Programs.Low-interest loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. SBA regulations permit loans up to $40,000 to repair or replace personal property. Businesses and nonprofits can borrow up to $2 million to restore damaged or destroyed buildings, inventory, equipment and assets. Loan amounts and terms are set by the SBA and are based on each applicant’s financial qualifications.The SBA will establish a Disaster Loan Outreach Center (DLOC) to assist anyone who wishes to apply for a loan. The DLOC will be open at the following location and times:Renton Volunteer DepartmentPlum Borough1996 Old Mine Rd.Pittsburgh, PA 15239Opening: Friday, Aug. 9 at 11 a.m.Hours: Monday – Friday, 9 a.m. – 6 p.m.Saturday, Aug. 10 & Aug. 17, 10 a.m. – 2 p.m.Closed: SundaysCloses: Tuesday, Aug. 20 at 4 p.m.SBA customer service representatives will be on hand at the disaster loan outreach center to issue loan applications, answer questions about the disaster loan program, explain the application process and help individuals to complete their applications.Individuals and businesses unable to visit the centers in person may obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), or by e-mailing disastercustomerservice@sba.gov.Loan applications can also be downloaded at www.sba.gov/disaster. Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://disasterloan.sba.gov/ela. Completed applications should be returned to the local DLOC or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.The filing deadline to return applications for physical property damage is Oct. 7, 2019. The deadline to return economic injury disaster loan applications is May 7, 2020.last_img read more

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Producer Scott Corfield is selling his home after a dramatic renovation

first_img14 Savoy driveThe Burleigh-born filmmaker’s home at 14 Savoy Drive is staged with classical styles that Mr Corfield picked up from working in London and New York. The home would not be complete without a cinema which has a gallery wall showcasing classic black and white photos of Paul Newman and Marlon Brando. Scott Corfield at his Broadbeach Waters home that he has put on the market. Picture: Richard GoslingCUE the lights and prepare for a curtain call, Gold Coast filmmaker Scott Corfield’s Broadbeach Waters home is in the spotlight after a dramatic renovation.The Australian producer’s home will go under the hammer a week before he releases his new film, Don’t Tell, starring Rachel Griffiths and Jack Thompson. Picture of film maker Scott Corfield at his Broadbeach Waters home that he has put on the market. Picture: Richard Gosling“My friends in the undstry are working back-to-back at Warner Bros. Studio. “The Gold Coast film industry is blossoming. There has been a huge number of movies made in the past few months, and the it is is really evolving as a city and film directors can see that.”Mr Corfield describes his home as a place he goes to seek the solitude of a coffee, a good book and some quiet time.“I do most, if not all, of my work here when I’m not travelling,” the father-of-one said.“It was designed to have lots of spaces to read or think, the front garden was especially made for my daughter Farrah to play in. “It has synthetic grass so we don’t have to worry about ant bites or anything nasty going into her mouth.”Familiar with tight budgets, the producer said he did most of the renovations himself but towards the end blew it out.“In beginning I was really strict with the budget but at the end it was a decision between the cool taps and the taps everyone else has,” Mr Corfield said. “Everything I was capable of doing on my own, I did.” Building the pizza oven with the help of Google and creating the gardens himself, Mr Corfield has produced showpieces for the property with its tropical landscaping, sandstone pavers and porcelain-tiled patio. The split-level house has a quirky barn-house sliding door in the bathroom and a cinema with private access to the pool.A colour palette of whites and timber greys flow throughout.Mr Corfield’s movie will preview at California’s Newport Beach film festival in April.center_img 14 Savoy Drive Broadbeach WatersHat stands, stacks of books and film posters are quintessential elements of the film buffs home.Open-plan living, trendy tapware and a barnhouse-style door are other highlights of the home.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North10 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“I studied acting in New York and I had always been inspired by the city,” he said. “I always knew I would settle on the Gold Coast and now the Australian dollar is down, Americans are really taking advantage of making movies here.last_img read more

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Ocean Rig Poseidon drillship set to spud Prospect S well off Namibia

first_imgOcean Rig Poseidon drillship is sailing towards Chariot’s PEL 71 block offshore Namibia where it will soon begin drilling of the Prospect S well.Azinam, Chariot’s partner in the project, on Friday said the sixth generation drillship would be at the location within the next 24 hours. The spud is expected “shortly thereafter,” with the drilling operation expected to last around 40 days.Chariot will be hoping the rig will have a better luck this time, as the Ocean Rig Poseidon’s last well, drilled for Tullow in Namibia, came up dry.According to Azinam, the Prospect S well has been strategically designed to test multiple zones including Aptian, Albian and Cenomanian-Turonian stacked targets within an overall structural closure.The total gross mean prospective resources are 708mmbls, according to Azinam’s most recent Competent Persons Report by Lloyds Register in September 2018.In addition to Prospect S, Azinam sees considerable follow-on potential within PEL 71 in several analogous adjacent structural closures all of which are clearly defined on 6,100km² of high qualitybroadband 3D seismic data.Daniel McKeown, Managing Director of Azinam Limited, said: “We are delighted to announce the mobilization of the Ocean Rig Poseidon as we approach drilling on Prospect S, the first well of our multi-well, multi-year drilling programme.I look forward to providing further updates on our operations on Prospect S as drilling progresses, as well as across the wider Azinam portfolio. Azinam is unique in this highly prospective part of the Southern African Atlantic Margin due to our license footprint, G&G database and the scale of our drilling plans. We’re delighted to start our drilling campaign with Prospect S alongside our partners, Chariot, NAMCOR and Ignitus Oil & Gas.”Chariot, operates the block with a 65% stake, with partners being Azinam 20%, NAMCOR 10% and Ignitus 5%.last_img read more

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Discover Dominica Authority News Update for the week ending Friday October 21, 2011

first_img Sharing is caring! Tweet LocalNews Discover Dominica Authority News Update for the week ending Friday October 21, 2011 by: – October 21, 2011 19 Views   no discussions Sharecenter_img Share Share ** I am Dominica. Are You? Champion**The Discover Dominica Authority promotes another aspect of the I am Dominica. Are You? Campaign through a new initiative called the “I am Dominica Are You? Champion”. As part of the campaign, the authority invites the general public to submit the name(s) of anyone whom they feel deserves an I AM DOMINICA recognition. The person(s) should be considered based on the following criteria: personal characteristics, solidarity and service to his/her community, fellowmen and / or Dominica by extension. The submissions should state in one paragraph why they have nominated this person. Submissions can be sent to the office of the Discover Dominica Authority or via email IADchampion@gmail.com. The first I am Dominica. Are You? Champion will be published on this week’s issue of the Newspapers.**Discover Dominica Authority to participate in Creole In The Park**Discover Dominica Authority will participate in the 9th LIME Creole in the Park from October 24 – 27, 2011. The Authority will promote various components of Dominica’s tourism product, such as the sulphur spas, Waitukubuli National Trail; and provide information on the destination to the general public. The company’s I am Dominica. Are You? Campaign will also be promoted. The Authority’s booth will be opened from 12 noon to 5 pm for the duration of the event at the Botanic Gardens. **I am Dominica. Are You? Campaign outreach to schools**Discover Dominica Authority will launch the first in a series of presentations to schools on the I am Dominica. Are You? Campaign this month. The first presentation will be at the Roseau Primary School on Wednesday October 26. Information about the campaign will be presented to students and they will be asked to provide feedback on how they feel they can be a part of the campaign. Additional presentations to primary and secondary schools throughout the island will be undertaken during the 2011 – 2012 academic year. **Discover Dominica Authority to Hold Discussions with Caribbean Export**The CEO of Discover Dominica Authority and Chairman of DFC Mr. Colin Piper held preliminary talks with a representative of the Caribbean Export this week. This discussion is intended to determine a way forward for assistance from Caribbean Export for the World Creole Music Festival. “Dominica’s World Creole Music Festival is one of the true indeginous festivals in the region and Caribbean Export views this as a marketable export and is willing to discuss potential areas of assistance” as Colin Piper. A representative of Caribbean Export will be in Dominica for the 15th edition of the World Creole Music Festival and will hold talks with other stakeholders with a view to understanding the product offering and the need of the festival. More details on this topic will be provided in a subsequent release.For more information on Dominica, contact Discover Dominica Authority at 767 448 2045. Or, visit Dominica’s official website: www.DiscoverDominica.com or follow Dominica on Twitter and Facebook and take a look at our videos on YouTube.Press ReleaseDiscover Dominica Authoritylast_img read more

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Newcastle United keep vigil on Super Eagles forward

first_imgThe Nigerian forward has been impressive for the Belgian side this season, scoring in European competitions and the domestic league as well.The 21-year-old is said to have caught the attention of Newcastle boss Steve Bruce who is looking for an alternative forward after club-record signing Joelington failed to justify the investment of the club in him.Reports in the Belgian media suggest the Magpies are confident of persuading to move to England, but Club Brugge asking price could make the transfer drag on for sometimes.Club’s Emmanuel Bonaventure Dennis reacts during a game of the 1/16 finals of the UEFA Europa League between Belgian soccer club Club Brugge and English club Manchetser United, in Brugge, Read Also: Barca set to sacrifice Griezmann to bring back NeymarDennis joined Club Brugge in 2017 and has netted 19 goals in 79 appearances for the club and won his first league title with the Belgian outfit this season.At the last count, Dennis has won two caps for the Super Eagles  and he was included in Gernot Robr’s 24 man squad for the 2021 African Cup of Nations qualifiers against Sierra Leone before the game was postponed due to the coronavirus pandemic.FacebookTwitterWhatsAppEmail分享 Loading… English Premier League campaigners Newcastle United are reportedly keeping vigil ahead of summer move for Super Eagles forward Emmanuel Dennis.Advertisementcenter_img Promoted Content10 Most Evil Female Characters In Disney MoviesThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreThe Highest Paid Football Players In The WorldWho’s The Best Car Manufacturer Of All Time?Who Earns More Than Ronaldo?You’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeCouples Who Celebrated Their Union In A Unique, Unforgettable Way8 Superfoods For Growing Hair Back And Stimulating Its GrowthHow They Made Little Simba Look So Lifelike in ‘The Lion King’A Hurricane Can Be As Powerful As 10 Atomic BombsTop 10 TV Friends Who Used To Be EnemiesInsane 3D Spraying Skills Turn In Incredible Street Artlast_img read more

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Trojans Win EIAC Track Crown

first_imgBatesville hosted the highly competitive 8 team track conference meet last night on what was a beautiful evening.  Despite the Bulldogs having 28 different personal bests recorded last night, the competition proved to be too much as the girls placed 4th overall and the boys 5th.  The East Central Trojans were crowned team champions for both the girls and the boys.  The EC girls scored an impressive 179 point, almost doubling the runner up team, the Franklin County Wildcats with 93 points, just edging Greensburg by 1 at 92 points.  Then Batesville was 4th with 80 points, followed by Rushville, 63, South Dearborn, 54, Connersville, 37 and Lawrenceburg with 25.  On the boys side, East Central put up 125 points to Franklin County’s 116. Rushville came in third with 101 followed by Lawrenceburg with 84, then Batesville, 70, South Dearborn 45 followed closely by Connersville with 42 and Greensburg came in 8th with 39 points.Franklin County’s Mitchell Orschell was crowned the Conference MVP for the boys and South Dearborn’s, Eva Quinlan was the MVP for the girls.Batesville had two Conference Champions, Haylee Harmeyer in the 400m dash (1:01.02) and Joshua Myers in the 1600m run (4:36.36).Runner up finishes for the Bulldogs were:Stephanie Nobbe-200m dashJake Cruse-long jumpGirls 4 x 800m relays of Liz Loichinger, Emma Gausman, Britany Venis and Haylee Harmeyer3rd place finishers went to:Morgan Meyer-high jumpStephanie Nobbe-100m dashGirls 4 x 100m relay-Gabby Gibbs, Taylor Rowlett, Morgan Meyer and Stephanie NobbeBoys 4 x 800m relay-Joseph Choi, JJ Kuisel, Quinten Gowdy and Adam MosterBoy 4 x 400m relay-Joseph Choi, Ethan Grossman, Isaac Barker and Quinten GowdyGabby Gibbs came in 4th place in the high jump.5th places were:Morgan Meyer-long jumpEmma Gausman-1600m run and 800m runLiz Loichinger-3200m runDylan Flannery-discusChristopher Laymon-pole vaultAdam Moster-3200m runBoys 4 x 100m relay-Ian Yorn, Isaac Barker, Gavin Koester and Jake CruseGirls 4 x 400m relay-Shalee Harrington, Taylor Rowlett, Emma Gausman and Haylee Harmeyer6th place ribbons went to:Roxi Hund-100m hurdlesDylan Flannery-shot putAdam Moster-1600m runJJ Kuisel-400m dashJoseph Choi-300m hurdlesJoshua Myers-3200m run7th places were:Trysta Vierling-3200m runGavin Koester-100m dashZach Harmeyer-400m dashQuinten Gowdy-800m runAnd finishing out the scoring in 8th place were:Gabby Gibbs-200m dashAdam Bedel-shot putChristopher Laymon-800m runIan Yorn-200m dashAgain, as listed above, there were many personal records broken as we hope this trend will continue as we head into sectional competition next week. List by event:100m hurdles: Roxi Hund300m hurdles: Roxi Hund and Sam Robben200m dash-Ian Yorn and Zach Harmeyer400m dash-Shalee Harrington800m run-Christopher Laymon1600m run-Joshua MyersShot Put-Katie Bedel and Adam BedelDiscus-Rebecca Deputy, Adam Bedel and Dylan FlanneryPole Vault-Stephanie Nobbe and Christopher LaymonLong Jump-Morgan Meyer and Jake CruseBoys 4 x 100m relay of Ian Yorn, Isaac Barker, Gavin Koester and Jake CruseBoth girls and boys 4 x 800m relays: Liz Loichinger, Emma Gausman, Britany Venis, Haylee Harmeyer, Joseph Choi, JJ KKuisel, Quinten Gowdy, Adma Moster4 x 800 splits: Britany Venis and JJ KuiselBoys 4 x 400m relay team: Joseph Choi, Ethan Grossman, Isaac Barker and Quinten Gowdy4 x 400 splits: Shalee Harrington, Joseph Choi, Ethan Grossman, Isaac Barker and Quinten GowdyCongratulations to everyone!Next on the agenda is the JV Conference meet which is tomorrow, Saturday, held at East Central with the field events beginning at 10am.  The varsity will now prepare for Sectionals which is next week.  The girls will travel to Franklin County on Tuesday and the boys will compete at East Central on Thursday. Good luck to all!Courtesy of Bulldogs Coach Lisa Gausman.last_img read more

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Grandstands open at Independence Motor Speedway this Saturday

first_imgThe 3/8 mile track, located on the Buchanan County Fairgrounds in Independence, will see the pits open at 3:30 p.m. and grandstand open at 4:30 p.m., with warmups set for 6 p.m. and racing to follow. Independence, promoted by jjamracing, which is comprised of Mick Trier and partner Justin Temeyer, is anxious to continue the racing season with fans in attendance. Racing runs under the IMCA banner with sanctioned divisions including the IMCA Modifieds, IMCA Sunoco Late Models, IMCA Sunoco Stock Cars, IMCA Sunoco Hobby Stocks and Karl Kustoms Northern SportMods. INDEPENDENCE, Iowa – The 2020 Independence Motor Speedway season resumes this coming Saturday, June 6 in front of a live crowd for the first time this year.center_img By Jerry Mackey  last_img read more

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Ole: Ighalo can fire United to Champions League finish

first_imgRelatedPosts Ighalo: My best moment as ‘Red Devil’ Aguero could be out of action until November, Guardiola says UCL: Benfica kicked out by player who left club one week earlier + other results Ole Gunnar Solskjaer believes Manchester United’s January additions can help the team find the consistency they need to secure a Champions League spot. United signed Bruno Fernandes and Odion Ighalo in the transfer window to boost a squad contesting a fierce battle for a top-four place in the Premier League. Solskjaer’s side have enjoyed the highs of an away win at Manchester City and a league double over Chelsea, while they are the only team to have held champions-elect Liverpool to a draw. But United fans have also had to endure embarrassing defeats at home to Crystal Palace and Burnley, and away losses at the likes of Bournemouth and Watford during this campaign. “We’ve had a few disappointing games, definitely,” Solskjaer told Sky Sports. “We’ve had inconsistent periods, we’ve had some great highs, great games… loads of games we’ve played really exciting football. And then we’ve let ourselves down in games we’ve dominated.” However, United are unbeaten since adding Fernandes and Ighalo to their squad last month, with the former having scored in each of his last two appearances. “That little spark he’s given us, he’s come in and the feeling around the place is better, ” Solskjaer said about the Portugal international. “He plays forward passes, he takes chances. He loses the ball a few times but he’s one of the players who looks good when he loses the ball because it’s a good attempt, and he wins the ball back. Delighted with him. “Odion as well, he’s given us something extra. We’ve missed that type of striker who has been in and around the box and having some tap ins. “We’ve had to score more or less perfect goals to score. We don’t need that now. “We’ve got players who can strike the ball from outside, we’ve got a striker in the box so I feel we’re getting closer and closer to that consistency.” United’s next four scheduled league games are all against teams battling for Europe, starting with Sunday’s trip to Goodison Park – a ground where Solskjaer’s side were thrashed 4-0 last season. But United go into the clash with Carlo Ancelotti’s Everton on the back of a seven-match unbeaten run in all competitions that has included six clean sheets. “I don’t want to speak too much about last year’s game because I can see a totally different squad now,” the United boss added. “It’s a reminder for us that going to Goodison Park is always tough and you have to earn the right to get anything. I think Carlo has also got his team playing really, really well. “We’ve had a great improvement in our defending, consistency in clean sheets, a foundation to play from. But we can’t get carried away. “We’ve got close to the top four but we’re not there. Everton, City, Tottenham, Sheffield United, they’re our next four league games.”Tags: Manchester CityOdion IghaloOle Gunnar SolskjaerUEFA Champions Leaguelast_img read more

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