Bank Indonesia expects forex reserves to increase to $125b

first_imgThe rupiah exchange rate strengthened significantly against the US dollar on Thursday, allowing the central bank to reduce market intervention as it expected foreign exchange (forex) reserves to increase over this week.The rupiah was trading at Rp 15,880 to the dollar Thursday, up 2.28 percent from the previous close, according to Bloomberg data.Bank Indonesia (BI) governor Perry Warjiyo said the rupiah exchange rate was still undervalued even after the strong appreciation, adding that the central bank predicted the rupiah would strengthen further to 15,000 against the US dollar by the end of 2020. Foreign investors sold Rp 148.76 trillion (US$9.35 billion) in Indonesian assets, including Rp 135.08 trillion in government bonds and Rp 9.71 trillion in stocks, BI data shows. The central bank has purchased Rp 172.5 trillion worth of government bonds, including Rp 166.2 trillion from foreign investors in the secondary market, to stabilize the currency.“We see now that the strengthening rupiah was due to market dynamics,” Perry said. “This reduces BI’s need to intervene as our intervention has been declining recently.”Read also: BI expects rebound in foreign capital flows later this yearOn that basis, the central bank expects the country’s forex reserves to reach $125 billion this week as uncertainties surrounding financial markets start to subside.The reserves dropped $9.4 billion in March to $121 billion as BI stepped up market intervention to stabilize the rupiah exchange rate, which was volatile throughout the month.The government’s plan to raise funds from dollar-denominated bonds was also expected to help bulk up the country’s reserves, Perry added.The newly enacted Presidential Regulation (Perpres) No. 54/2020 on the 2020 state budget stipulates a steep increase in debt issuance to Rp 1 quadrillion this year from the initially targeted Rp 351.9 billion as the government seeks to fund the fight against the pandemic.The government plans to offer sovereign debt papers worth Rp 549.6 trillion, an increase from the initial Rp 389.3 trillion, while also planning to raise Rp 450 trillion in “pandemic bonds”.The Finance Ministry has raised $4.3 billion in dollar-denominated bonds this week, which could boost the country’s forex reserves by between $4 billion and $125 billion in the next week, Perry said.Read also: Bank Indonesia strikes $60b repo facility deal with US Fed as forex reserves drop“The conversion of dollar-denominated bonds into rupiah-denominated funds to be used by the fiscal authority to finance stimulus would increase the central bank’s foreign exchange reserves,” economists from the University of Indonesia Institute for Economic and Social Research (LPEM UI) wrote in a research note.According to the institution’s calculations, the issuance of Rp 450 trillion in “pandemic bonds” would increase the central bank’s foreign reserves by $15 billion if the debt papers were denominated in dollars.“Meanwhile, if all the pandemic bonds are denominated in rupiah, then the increase of foreign reserves will only reach $9 billion,” the researchers said.Topics : “If we measure the fundamentals of the rupiah exchange rate including against inflation, the current account deficit and interest rate differentials onshore and abroad, the rupiah is still undervalued and has the tendency to strengthen,” Perry said at a livestreamed media briefing on Thursday.Read also: ‘This is not a normal time’: BI to break barriers in COVID-19 battleDespite the jump, the rupiah remains one of the worst-performing Asian currencies as it has lost more than 14 percent of its value against the greenback so far this year after foreign investors dumped Indonesian assets following the novel coronavirus pandemic.The central bank has stepped up intervention, especially in March, in the spot foreign exchange and domestic non-deliverable forward markets. It has bought bonds dumped by foreign investors to anchor the value of the rupiah.last_img read more

Ex-Starbucks employees arrested for alleged ‘peeping tom’

first_imgThe North Jakarta Police have arrested two former Starbucks Indonesia employees for alleged sexual harassment after they were caught peering at a female customer’s cleavage through a CCTV camera.Jakarta Police spokesperson Sr. Comr. Yusri Yunus said the two arrestees, identified only by their initials K and D, were apprehended on Thursday evening.“The police are now interrogating them to find out their motives,” Yusri told The Jakarta Post on Friday. He added the police had also identified the victim, since one of the suspects personally recognized her. “The suspect has her phone number. The victim just filed a report to the police.”The spokesperson went on to say the incident occurred on Wednesday in a Starbucks store in the neighborhood of Sunter in North Jakarta.The incident caught public attention after a Twitter user under the handle @LisaAbet uploaded a video of the incident to the Twitter. She tweeted she was angered upon watching the incident in her friend’s Instagram Story.Read also: Public outcry as House plans to delay sexual violence bill – again The footage showed a male employee of the coffee shop zooming on CCTV recordings at the back office to get a clearer look on a female visitor’s cleavage. Another male employee who recorded the event through his phone burst into laughter.The incident drove many internet users raging over the behavior, demanding immediate investigation from Starbucks. @LisaAbet’s post has been retweeted 19,400 times in less than two days.“How they behave is unacceptable and disgusting,” Twitter user @xxnotababexx wrote.“F&B [food and beverage] business is about hospitality. If customers are not respected, it’s fatal […],” user @aguslio17g tweeted.Starbucks responded to the post on Wednesday, apologizing for the incident. The company added that the management was investigating the incident and the employees.The company released a statement on Thursday afternoon, saying “the individual” was no longer employed and the company would ensure similar incidents did not happen in— Starbucks Indonesia (@SbuxIndonesia) July 2, 2020“We were extremely troubled to learn of this incident and it is a matter that we take seriously. It is not consistent with our mission and values, high standards of conduct or the experience we strive to deliver for our customers,” Starbucks stated.Starbucks Indonesia spokesperson Andrea Siahaan confirmed to the Post that the company had fired the two employees implicated in the incident.Opening its first store in Jakarta in 2002, Starbucks now has more than 300 stores in major cities across the country.Topics :last_img read more

Pierre-Emerick Aubameyang reacts to Arsenal hero Ian Wright telling him to ‘sign da ting’

first_imgIt did not take long for Aubameyang to respond, posting a string of smiley faces and laughing emojis.Aubameyang’s latest post is not the first time he has got Arsenal fans excited that he may be staying at the Emirates, having also ‘liked’ a social media post begging him to sign and tweeting a picture of an hour glass emoji.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalOn Thursday evening, meanwhile, he went on Instagram Live with his brother Willy and said: ‘Guys, have a good night, enjoy and hopefully great news for everybody.’Aubameyang’s proposed new deal would make him the second highest paid player at the club behind only Mesut Ozil, with Arteta keen to build his attack around the goalscorer after he hit 22 goals in 36 Premier League appearances last season.MORE: Arsenal set to seal Gabriel transfer as he completes medical despite Manchester United interestMORE: Willian pleads with Pierre-Emerick Aubameyang to stay at Arsenal and help challenge for Premier League titlesFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. The Gunners’ top scorer is widely expected to commit to a new contract (Pictures: Getty / Twitter)Pierre-Emerick Aubameyang continues to tease the possibility he will sign a new contract with Arsenal, this time responding to a plea from Gunners legend Ian Wright.The 31-year-old, who was once again the north London club’s top scorer last season, has less than a year remaining on his current contract which is due to expire in the summer of 2021.It had been suggested that Aubameyang would be sold if he did not agree fresh terms, but Mikel Arteta persuaded the club to offer his star striker the bumper £300,000-a-week deal he wanted. Pierre-Emerick Aubameyang reacts to Arsenal legend Ian Wright telling him to ‘sign da ting’ Metro Sport ReporterFriday 21 Aug 2020 11:59 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link6.9kShares Advertisement Advertisement Aubameyang is believed to have agreed fresh terms with Arsenal (Picture: Getty)An official announcement on Aubameyang’s extension is expected early next week, though the Gabon international has been dropping plenty of hints on social media in the meantime.AdvertisementAdvertisementADVERTISEMENTAlthough all parties are on the same page, Arsenal fans are still holding their breath for the star to put pen to paper – even club icon Ian Wright.The former Gunners striker tagged both Aubameyang and Arsenal on social media, writing: ‘Taking so long gonna sign da ting myself’ alongside a picture of him signing a piece of paper. 😆😂🤣🤣— Aubameyang P-E (@Aubameyang7) August 21, 2020 Commentlast_img read more

Widen the hunt to land your dream home

first_imgTenille Patterson and Zach Strasser posing at their renovated Stafford Heights home. (AAP Image/Josh Woning)Australian buyers are broadening their horizons and are now prepared to buy homes outside their preferred suburbs in a bid to secure exactly what they want.New research by reveals 54 per cent of people buying property will sacrifice living exactly where they want to if it means getting all the features they are after in a house.Coronis chief operating officer Karuna Dimelow had noticed that buyers had changed their way of thinking when it came to investing in property.“Buyers are looking for a property or home that suits their immediate needs,” she said.“They’re acting upon the ‘now proposition’ – they want it all now.“This is why we are seeing buyers purchasing their dream home from day one of property ownership.”She said the trend was heavily influenced by Generation Y’s high expectations.“As these generations are moving out of their family home, or from rental homes into their first (purchased) home, they have a strong expectation to maintain the same standard of living,” she said.“When I bought my first home, the mantra was to buy the worst home on the best street,” she said.“Now, people are settling for their dream home outside their dream suburb in a bid to have everything from day one.”Despite originally looking for a property closer to the city, Tennille Patterson and Zach Strasser gave up the idea of owning an inner-city home and purchased their dream renovator in Stafford Heights instead.Ms Patterson said their priorities were to find the right home and that the location was a secondary concern.“The home was ideal for us,” she said.“We picked it mainly because it was a good house to renovate, and we wanted a yard, which this property offered.”Ms Patterson said the property allowed them to make the changes they wanted.“It’s a two-storey house with a good layout,” she said.“It’s going to be a much better home in terms of size and value to live in than anything else we were looking at closer to the city.”More from newsParks and wildlife the new lust-haves post coronavirus20 hours agoNoosa’s best beachfront penthouse is about to hit the market20 hours agoIn 2017, Tamika and Matt Anson bought their dream home in Gaythorne, a suburb they’d previously never considered buying in.Mrs Anson said the couple began expanding their search after experiencing issues finding a home that matched their criteria in their preferred suburbs of The Grange and Gordon Park.“What we were looking for was quite limited,” she said.“We just couldn’t find what we were after, and we weren’t convinced with the level of value we could get in those suburbs.“Gaythorne came up as a surrounding suburb, so we started looking up properties in the area.”Mrs Anson said that by extending their search just a few kilometres, they were able to secure a home that presented better opportunities for them in the long term.“If we’d bought in Gordon Park or (The) Grange, we would have ended up purchasing a home something similar to what we were already living in, but for more money,” she said.“By stretching the search out just that little bit further, we were able to get a newer build on a bigger block with a fourth bedroom that accommodates our future plans.”Despite many buyers looking at homes in alternate locations, Ms Dimelow said there were still plenty of opportunities to find a good deal in Brisbane’s most sought-after locations.“Micro-pockets offer better value for money compared with these dream suburbs, and still provide the same lifestyle,” she said.She used the example of buyers looking in locations just outside of Ascot.“The Hamilton/Ascot side of Racecourse Rd is occupied by traditional Queenslander homes on larger blocks, with renovated kitchens, media rooms and pools,” she said.“Whereas on the other side of Racecourse Rd, closer to Doomben, there are a range of properties at more affordable prices that still offer the same lifestyle, but the prices differ vastly.”last_img read more

Helix Energy shuffles management team

first_imgOil and gas services company Helix Energy Solutions has announced changes to its executive management team, which became effective Monday, June 5. Helix said on Monday that the changes were consistent with the company’s long-standing succession plan.Namely, Erik Staffeldt, who has served as Helix’s VP of finance and accounting since July of 2015, was promoted to the position of Senior VP and chief financial officer (CFO).Tony Tripodo, Helix’s former Executive VP and CFO since June of 2008, will be transitioning to the position of Executive VP and senior advisor. In his new role, Tripodo will be responsible for assisting Owen Kratz, Helix’s president and CEO with the long-term business and financial strategy of the company.The former CFO will continue to remain involved in the company’s financial planning and assist with the orderly transition of his former responsibilities as a chief financial officer.Owen Kratz, president and CEO of Helix, said: “Erik has earned the confidence of the board and the executive management team and has demonstrated the ability to take on increasing responsibilities since joining Helix in 2009.“In addition, Tony’s demonstrated capabilities in managing the financial affairs of the company and his intimate knowledge of the business make him well suited for the new role we have asked him to perform.”last_img read more

Teekay LNG swings to profit

first_imgTeekay LNG Partners, one of the world’s largest owners of LNG carriers, swung back to profit in the second quarter of 2018.The partnership reported a net income of $2.7 million for the quarter under review, compared to a net loss of $6.9 million in the first quarter of the year and a net loss of $16 million reported in the corresponding period in 2017.The adjusted net income dropped to $13.5 million from $22 million in the previous quarter and $17.8 million in the second quarter of 2017.The net income increase has been positively impacted by the deliveries of seven liquefied natural gas (LNG) and three LPG carrier newbuildings between July 2017 and May 2018 and the commencement of short-term charter contracts for certain of the vessels in the Partnership’s 52 percent-owned joint venture with Marubeni Corporation, the company said in its report.The company’s president and CEO, Mark Kremin said that it has “experienced another quarter of increased earnings and cash flow from” LNG carriers.“We have taken delivery of nine LNG carriers over the past nine months, including the Myrina and the Megara in early-May and mid-July 2018, respectively, both of which are on long-term, fixed-rate charters to Shell, and we are anticipating the delivery of the Bahrain Spirit FSU later this month,” Kremin said.Quarterly voyage revenues increased during the period under review, reaching $122 million compared to $100 million reported in the quarter ending June 30, 2017.last_img read more

Fury, Wilder separated by security in heated stand-off ahead of rematch

first_imgRead Also: Fury: I’m happy no British judge was selected ahead Wilder rematchInsults continued to fly between the two men, even when the broadcast cut to commercials.The tension was eased by the introduction of each fighter’s trainer on stage and the press conference ended without any further fireworks, or the customary final face-off.Fury and Wilder go to war again on Saturday night, with the winner expected to proclaim himself the best heavyweight in the division.FacebookTwitterWhatsAppEmail分享 Tyson Fury and Deontay Wilder had to be separated by security during a heated and lengthy stand-off before the final press conference.Advertisement Wilder was waiting for Fury when he was invited to make his entrance and the pair immediately went nose-to-nose at the centre of the stage.With no security in sight, the exchange quickly escalated before the Gypsy King shoved his rival after receiving a push from the Bronze Bomber. When calm was eventually restored and the fighters were convinced to sit down, Wilder opened with an angry statement rebuking Fury’s claim he had made the WBC champion a star.Wilder and Fury were immediately in each other’s faces‘This is the final countdown and well should be happy,’ he said.‘This is what we’ve been waiting for. ‘The biggest fight of both our lives.‘I’ve been waiting so long to put my hands on a body, but someone put on their running shoes.’The stand-off lasted for five minutes‘Don’t you ever forget who brought you back to big time boxing,’ Wilder said directly to Fury.‘The fans are here to see me do unfinished business.’Fury, who kept his hood up and dark shades on through-out the presser, responded: ‘Wilder is spouting rubbish.‘I gave him his biggest payday and brought him to Vegas.‘And this is how he thanks me? I’ve fed him, looked after him, he owes me.’Wilder shoved Fury Loading… center_img The presser in Las Vegas was delayed by a full five minutes as security and team members tried to pull the heavyweights away from each other. Promoted Content9 Facts You Should Know Before Getting A TattooPretty Awesome Shows That Just Got CanceledTop 10 Tiniest Phones Ever MadeMind-Bending Technology That Was Predicted Before It Appeared8 Things You Didn’t Know About CoffeeBest & Worst Celebrity Endorsed Games Ever MadeWhat Happens To Your Brain When You Play Too Much Video Games?13 kids at weddings who just don’t give a hoot8 Things That Will Happen If An Asteroid Hits EarthBirds Enjoy Living In A Gallery Space Created For Them7 Universities Where Getting An Education Costs A Hefty Penny6 Incredibly Strange Facts About Hurricaneslast_img read more

Healthcare worker is WV’s 105th COVID case; 70 patients recover

first_imgThe four latest recovered patients were the following: Villanueva stressed the importance of wearing facemasks, observing social distancing  and frequent hand-washing to prevent the further spread of COVID-19. But there was good news, too – 70 of the cases have fully recovered, according to Dr. Ma. Julia Villanueva, assistant regional director. * Iloilo City – six These droplets also land on objects and surfaces around the person. Other people then catch COVID-19 by touching these objects or surfaces, then touching their eyes, nose or mouth. In DOH’s COVID-19 pandemic lingo, “healthcare worker” does not only refer to doctors, nurses and medical technologists. They also include drivers of ambulances, emergency responders and barangay health workers, said Villanueva. * Negros Occidental – one * Capiz – one The latest case was a 32-year-old male healthcare worker from Roxas City. He was on home quarantine. * Antique – four * Iloilo province – two The region’s number of COVID-19 deaths still stood at 10. People can catch COVID-19 from others who have the virus. The disease can spread from person to person through small droplets from the nose or mouth which are spread when a person with COVID-19 coughs or exhales. Nationwide, healthcare workers who have recovered from COVID-19 reached over 1,000 as of May 19, the DOH central office announced. It recorded 44 more medical frontliners who beat the deadly respiratory disease, raising the total to 1,018. * 50-year-old male from Molo, Iloilo City (Patient No. 94), repatriate * 30-year-old male from La Paz, Iloilo City (Patient No. 95), repatriate As of yesterday, May 20, Western Visayas had 25 remaining “active” COVID-19 cases. They were from the following areas: According to Villanueva, the 70 patients who recovered made up 67 percent of the region’s 105 COVID-19 cases. * 23-year-old male from City Proper, Iloilo City (Patient No. 96), repatriate On May 19 specimens were extracted from the healthcare worker for COVID-19 testing. The positive result was released yesterday. How the region’s Patient 105 got infected with SARS-CoV-2, the virus that causes COVID-19, was unclear. He had no exposure to a COVID-19-positive patient, according to Villanueva. ILOILO City – Coronavirus disease 2019 (COVID-19) cases in Western Visayas rose to 105 yesterday, according to the Department of Health (DOH) Region 6. With this new case, the number of healthcare workers in Region 6 that became sick with COVID-19 rose to 11, said Villanueva. * 61-year-old female from La Paz, Iloilo City (Patient No. 55) * repatriates – 11 She also reminded the public to observe coughing and sneezing etiquette. The patient had fever on May 14 and had himself checked by a hospital the following day. Possible vaccines and some specific drug treatments are under investigation. They are being tested through clinical trials. The World Health Organization is coordinating efforts to develop vaccines and medicines to prevent and treat COVID-19./PN As to Western Visayas’ COVID-19 patients who have recovered, DOH-6 recorded four more yesterday, bringing the number to 70.last_img read more

World Cup Soccer

first_imgBy now I am sure you saw the publicity that followed the Germany National Team win over Brazil in the World Cup semi-finals.  The reason it made headlines is that the score was 7-1.   In World Cup Soccer most world teams can win the title with 7 goals total through the entire tournament.  Scoring 7 goals in one game, beyond peewee soccer, is unheard of in the sports world.The sad part of these stories is the craziness placed on a single athletic contest.  To the people of Brazil, their national pride was crushed.  To the World Soccer fan this publicity is not such a rare occurrence.  We, in the United States, have not considered soccer as being at this level of athletic prowess.   I suppose it might occur at an NCAA Final Four, a Super Bowl Championship, or the National Football title game.Countries should put this type of national pride into improving the lives of their countrymen instead of thinking of soccer as the “be all-end all”.  Brazil is still there today and will be there next week despite that soccer score.last_img read more

More questions about Laurel Police K-9 death

first_imgLaurel, In. — WRBI News has learned the Indiana Department of Natural Resources is investigating the death of Blade, the Laurel K-9 officer that died at the first of the year.Clint Ellis, Blade’s handler, was recently fired for insubordination and lying about the location of the dog’s body.Town residents showered questions to the town council during a recent meeting where Ellis’s girlfriend, Mallory Carlton is the vice president.On New Year’s Eve Blade began to show signs of lethargy but did not have diarrhea or other serious symptoms according to Carlton and Ellis asked her to keep an eye on the dog. They noted the dog continued to eat and drink water but died News Years Day.Boone conceded they should have taken the dog to the vet but they didn’t think the matter was that serious. EllisFollowing the death of the dog, Ellis called Laurel Town Marshal Brad Spurlock. Spurlock instructed Ellis to call the Franklin County Sheriff’s Department. The sheriff’s department referred them to Indiana State Police, the agency tasked with investigating other departments. Reportedly, the Indiana Department of Natural Resources ended up with the case because the dog was not killed in the line of duty.Carlton said the dog was decommissioned at the direction of the town attorneys in November of 2016 because he was too aggressive. She continued that Blade was out-of-service and technically not a K-9 officer at the time of his death.Indiana State Police have custody of the body while an autopsy is being performed. Town officials say they will have a public burial for Blade when his body is returned.The Indiana Department of Natural Resources has not yet commented on this matter.last_img read more