Indonesia’s economy may shrink 3.5% if PSBB last for 4 months: World Bank

first_imgIndonesia’s economy may shrink 3.5 percent this year should the large-scale social restrictions (PSBB) imposed by several regional administrations nationwide last for four months, according to a worst-case projection by the World Bank, as the government rushes to reopen the virus-battered economy.Under its baseline scenario, however, Indonesia’s economy is expected to grow zero percent compared to 5.02 percent last year, said World Bank senior economist for Indonesia Ralph van Doorn on Tuesday.“This [the baseline scenario] assumes two months of large-scale social restrictions and takes into account a severe global economic slowdown and a very big drop in commodity prices, all of which will have an effect on Indonesia’s economy,” van Doorn told reporters in a livestreamed news conference. “We expect private consumption to slow down due to job losses and a decline in consumer confidence,” said van Doorn. “We also expect a slowdown in investment growth because of weaker economic activity and lower commodity prices.”Indonesia’s economy grew 2.97 percent in the first quarter, the weakest since 2001, while household consumption expanded just 2.84 percent year-on-year (yoy) from 5.01 percent during the same period last year. The government’s worst-case scenario sees the economy contracting 0.4 percent this year.Fitch Solutions in its research on May 6 projected private consumption to contract 1.5 percent in 2020 and the economy to shrink 1.3 percent.Four provinces and 11 regencies/cities nationwide had implemented PSBB as of Tuesday afternoon since Indonesia’s outbreak epicenter Jakarta started applying the measure on April 10, forcing offices, factories and retail shops to close and limiting people’s movement. The coronavirus has infected more than 27,500 people and killed at least 1,660 in Indonesia, official data show. The government is now pushing ahead to reopen the economy to prevent further weakening by easing restrictions in areas where infection rates are under control, allowing malls and restaurants to reopen with strict health protocols, despite a surge in coronavirus infections nationwide.The Finance Ministry’s Fiscal Policy Agency director for macroeconomic policy Hidayat Amir said the government’s decision to reopen the economy was aimed at preventing massive bankruptcy and speeding up the economic recovery process after the threat had subsided.“Economic recovery may take place in the third and fourth quarters,” said Hidayat at the same news conference. “We want businesses to survive and prevent massive job losses.”Finance Minister Sri Mulyani Indrawati recently projected that 1.89 million to 4.89 million Indonesians would become poor as a result of the pandemic, while 3 million to 5.23 million would lose their jobs.On Tuesday, Van Doorn of the World Bank expected the country’s poverty rate to surge by 2.1 to 3.6 percentage points, which would mean between 5.6 million and 9.6 million people falling into poverty this year.“There is a need for adequate protection for vulnerable communities,” Van Doorn said. “We are concerned that the value of the stimulus package may not be enough to offset the economic impact on households.”The government is rolling out a Rp 641.17 trillion (US$44.3 billion) economic recovery stimulus package to strengthen its safety net programs, as well as to provide cash injections to state-owned enterprises and subsidized loan interest for micro, small and medium enterprises (MSMEs), among other things.As much as Rp 149.29 trillion of the fund will be used for bailouts for 12 SOEs, mostly as cash compensation and working capital investments, to reduce the impact of the virus crisis. The funding includes Rp 48 trillion in compensation for electricity firm PLN, Rp 45 trillion in compensation for oil company Pertamina and Rp 8.5 trillion in working capital guarantee for flag carrier Garuda Indonesia.The government will also provide Rp 34.15 trillion in loan repayment subsidies to around 60 million borrowers, while Rp 87.59 trillion will be allocated to banks to support their loan-restructuring programs.It is also planning to provide Rp 172.1 trillion for the social safety net, far higher than the previous plan of Rp 110 trillion, as well as increasing its tax incentives program to Rp 123 trillion from the initial plan of Rp 70.1 trillion.“The government will accelerate spending to help MSMEs and SOEs, apart from a consumer spending stimulus and tax incentives for industry,” Sri Mulyani said in May. “These efforts aim to stimulate the supply and demand sides for economic recovery.”Topics :last_img read more

Mark Lawrenson makes prediction for Manchester United’s Premier League clash with Arsenal

first_img Unai Emery on Arsenal’s 5-0 win against Nottingham ForestTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 10:34FullscreenUnai Emery on Arsenal’s 5-0 win against Nottingham Forest is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.MORE: Billy Gilmour reveals advice from Ross Barkley and Frank Lampard following Chelsea’s win over Grimsby Metro Sport ReporterFriday 27 Sep 2019 6:00 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link Teen who scored against Man Utd has psychology exam next dayTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 2:54FullscreenTeen who scored against Man Utd has psychology exam next day is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Michael Owen has also predicted a draw and admits he would be ‘surprised’ if Arsenal fail to find the net at Old Trafford.‘After their loss at West Ham on Sunday, Manchester United have now lost seven of their last 15 games in the Premier League – as many as they had in their previous 40 games in the competition,’ the ex-England striker told BetVictor.‘Arsenal continue to frustrate and excite in equal measure, but they came from behind twice to beat Aston Villa on Sunday and they were a man light for the whole of the second period.More: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira moves‘United kept a clean sheet against Leicester City in their last home league game, but I would be surprised if the Gunners did not find the back of David de Gea’s net in what promises to be a fascinating game between two clubs desperate to return to the automatic Champions League places this term.‘Unai Emery will have been delighted by the return from long term injury of Rob Holding and Hector Bellerin in the midweek 5-0 League Cup success over Nottingham Forest.‘Add the impressive belated debut of summer signing Kieran Tierney and two goals from Brazilian teenage striker Gabriel Martinelli, and the suggestion is that the Gunners’ boss is going to have one or two difficult, but welcome, selection decisions to make in the weeks and months to come.’ Advertisement Advertisementcenter_img Comment Mark Lawrenson makes prediction for Manchester United’s Premier League clash with Arsenal Manchester United play host to Arsenal in the Premier League (Picture: Getty)Liverpool hero Mark Lawrenson has backed Arsenal to come away from Manchester United with a 1-1 draw on Monday evening.The Gunners sit fourth in the Premier League table after three wins from their opening six games and Unai Emery’s men will be buoyed following a thumping 5-0 victory over Nottingham Forest in the Carabao Cup in midweek.United are down in eighth after losing 2-0 away at West Ham last weekend and Ole Gunnar Solskjaer’s side followed this up with a lacklustre performance against Rochdale.Luke Matheson’s stunning volley cancelled out Mason Greenwood’s earlier strike to take the third round tie to penalties where United eventually prevailed.AdvertisementAdvertisementADVERTISEMENTMore: 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 CityLawrenson thinks United’s struggles in front of goal will likely continue at Old, with Marcus Rashford ruled out and Anthony Martial a doubt for the clash.However, the former Liverpool defender believes Arsenal’s problems at the back always make them vulnerable.Predicting a 1-1 draw, Lawrenson told BBC Sport: ‘The Gunners are turning into the comeback kings, although I am sure they would prefer not to be in a situation where they need a fightback in the first place.‘Unlike United, Arsenal do not look short of goals, but it is at the back where Unai Emery’s side still have problems.’last_img read more

One sold out and one about to launch, attached dwellings are hot

first_imgMore from newsMould, age, not enough to stop 17 bidders fighting for this home6 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agoCanopy Bardon“We chose the townhouse because we’ll have room for a garden wall and there’s a lot of space and a beautiful view. We’ve also got a little dog, so she can have some yard space in the grassed area,” Ms Edith said.“The property has three bedrooms and a beautiful bathroom that looks out onto bushland. That was also a deciding factor for us, because the bathroom is just like a room with a beautiful view! We also have a deck outside, which creates even more openness.”Mr Lawrence said Hive would deliver the same high standard as Canopy, offering a mix of three and four-bedroom designs across two and three storeys, all with generous balconies and terraces.“Hive has many of the appealing elements that attracted owner occupiers to Canopy and we’re already receiving strong interest from buyers who are looking for a high standard of living and unique architecture in a bushland setting,” he said.Hive is nestled into a protected nature reserve in the heart of The Gap with breathtaking views to Mt Coot-tha, just 10km’s from the CBD. Hive at The Gap is offering 61 luxury premium townhomes with three and four-bedroom designs.The homes feature cedar timber detailing, double or triple lockup garages, an abundance of natural light, passive design principals to help reduce energy costs and open living spaces.The project also features two barbecue spaces, a pool with a deck looking out to the nature reserve and Mt Coot-tha and an alfresco dining area.“The days are gone when you can simply produce dull and unimaginative unit developments and expect that investors and owner occupiers will turn up just because of the location and price,” Mr Lawrence said.“We are seeing more and more discerning buyers who know there is plenty of product on the market and can afford to pick and choose to get the architecture and style they want. Smart investors also know that the first rule of a successful investment property is that people must want to live there.” Nigel Douglas and Bronwyn Edith have bought into Canopy Bardon and are loving the views.BRISBANE’S attached dwelling market is on the rise in the inner suburbs with Position Property reporting a sell out of 40 town homes in Bardon and a new project of 61 set to launch in The Gap later this month. Canopy Bardon, developed by Pradella Property Ventures, sold out with the first residents moving in earlier this year. Hive, set to be developed in The Gap by Lantona, is hoping for the same success.Position Property director Richard Lawrence said there was a growing demand for townhomes that suited the needs of downsizers and young families.“When designed well, they really are a great low-maintenance alternative to houses,” Mr Lawrence said.With 38 out of the 40 townhomes at Canopy Bardon sold off the plan, Mr Lawrence said demand was on the increase.“This outstanding level of demand provides further evidence that Brisbane’s attached dwelling market remains robust, especially for projects with a unique design that appeals to owner occupiers,” he said.“Infill sites that are within a few kilometres of the city and large enough to accommodate quality projects like this are becoming increasingly rare. This scarcity will only grow given the new target of 60 per cent urban infill development in the draft South East Queensland Regional Plan.”Canopy Bardon buyers Bronwyn Edith and Nigel Douglas consider their move to their new townhome to be both a downsize and an upgrade.last_img read more

Former Townsville croc puts home on the market

first_imgGreg Vanderjagt is selling his West End home. Picture: Shae Beplate.TOWNSVILLE Basketball general manager Greg Vanderjagt has put his West End Queenslander on the market as he prepares to move south.The three-bedroom, two-bathroom property at 23 Ralston St is listed for sale in the high $400,000s.Mr Vanderjagt, a former Townsville Crocodiles player, announced last month he would be moving to Geelong to take a chief operations officer role with the Supercats. He said he would be sad to leave the home he bought with his wife in 2016 and had extensively renovated. 23 Ralston St, West EndMore from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020The house is on a 1012sq m block and has multiple entertaining areas as well as tropical gardens.It has traditional Queenslander features such as high ceilings, arches, casement windows and tongue and groove walls. Outside there is bench seating with a fire pit and waterfall lighting that winds through the backyard mango tree.Mr Vanderjagt said West End had been a great suburb to live in.“It’s a nice quiet street and it’s also close the city, The Strand, the airport and it’s a 10-minute drive to the hospital,” he said.“It’s also a really house proud neighbourhood and everyone keeps their properties neat and tidy.” 23 Ralston St, West End“We actually had our wedding reception in the backyard so we have a lot of happy memories here,” he said.“We’ve re-done the living areas and the back deck and we’ve also done a lot of work to the backyard.“What really attracted us to the house was its character and charm of the traditional Queenslander home.“It’s been more than just a house to us. It was something we wanted to make our own and we’ve loved coming home to it every day.” 23 Ralston St, West EndElite Properties Townsville principal Glenda Worrall is selling the house after also selling it to the Vanderjagts in 2016. She said it had generated strong interest and she didn’t expect it to remain on the market for long.“It’s been renovated beautifully and we had eight groups through the first open home, which was a twilight viewing,” she said.“I sold it in a week last time and it had multiple offers.” 23 Ralston St will be open for inspection on Sunday from 3.30pm to 4pm. For more details call Glenda Worrall on 0417 731 102. Greg Vanderjagt is selling his West End home. Picture: Shae Beplate.last_img read more

Prime location offers opportunity for development

first_img“You can go up five levels with it, so there’s definitely a great opportunity to develop a boutique unit block.”Mr Di Bartolo said the property had received a range of interest from different types of buyers.“We’ve had a mixture of people coming through looking at holding it for future development, and people who are considering selling existing property so they can buy this, live in it and develop it later down the track,” Mr Di Bartolo said. READ MORE “In the next two to three years, I think we will see more development in Townsville, there are quite a few projects that are already starting to come off the ground now.“It’s an investment for the long term.” Situated in the middle of Townsville’s lifestyle hub, it is within walking distance to The Strand and close to plenty of specialty retail stores and entertainment precincts. The property is on the market for $1.2 million. John Gribbin Realty agent Sibby Di Bartolo, who is marketing the property, said it was zoned medium density residential and had the potential to be developed into a multiple dwelling.“Whoever purchases it will have the opportunity in the future to develop it to be whatever they want,” Mr Di Bartolo said.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“It’s in the location where things are just starting to happen in the city and in that area at the moment. center_img 72 Eyre Street, North Ward is on the market for 1.2 Million.A PROPERTY spanning 1012sq m is on the market in one of Townsville’s most in-demand suburbs, presenting a prime opportunity for a developer or resident wanting to invest. The house at 72 Eyre Street in North Ward is two-storey and boasts four bedrooms. There is also a large fully fenced, in-ground pool surrounded by timber decking and lush gardens. READ MORE Transformed pre-war timber cottage named House of The Year Renovation transformation you have to see to believe last_img read more

Fargo-Moorhead Diversion Project Receives $20 Million

first_imgThe U.S. Army Corps of Engineers, St. Paul District, received $20 million to continue construction of the Fargo-Moorhead Metropolitan Flood Risk Management Project.These funds, released yesterday in the U.S. Army Corps of Engineers Fiscal Year 2017 Work Plan, will allow the St. Paul District and its partners, the Diversion Authority and the cities of Fargo and Moorhead, to continue construction of the Diversion Inlet Structure, continue design of the Wild Rice River Control Structure and additional features of the southern embankment, as well as continue environmental monitoring and design of mitigation features associated with the project.“Inclusion in this year’s work plan is good news,” said Col. Sam Calkins, St. Paul District commander. “This shows continued commitment to the project and will allow substantial progress. Our goal is to complete this project as soon as feasible to both save money and reduce flood risk for the community. The project could be completed as early as 2024.”The federal project is a 30-mile long diversion channel in North Dakota with upstream staging. The plan includes a 12-mile long southern embankment, 19 highway bridges, four railroad bridges, three gated control structures and two aqueduct structures.It will reduce flood risk for more than 225,000 people and 70 square miles of infrastructure.last_img read more

Ibrahimovic will quit AC Milan in June due to Boban’s sacking

first_imgZlatan Ibrahimovic has sensationally decided to leave AC Milan less than three months after re-joining the club. Ibrahimovic is set to leave Milan on a free transfer at the end of June, with the striker unhappy about the recent sacking of chief football officer Zvonimir Boban. Zlatan Ibrahimovic will leave AC Milan in the summer with a managerial job his next target Boban had been instrumental in bringing Ibrahimovic back to Milan, where he initially played between 2010 and 2012. The departure of Boban convinced Ibrahimovic to leave at the end of this season as opposed to 2021. Ibrahimovic poses with the No 21 shirt after joining the club at the start of the year According to Sport Mediaset, Ibrahimovic’s decision is irrevocable and will take Milan CEO Ivan Gazidis by surprise.Advertisement Upon his return to Milan Ibrahimovic will formally communicate his decision to Gazidis, who had a falling out with Boban. Ibrahimovic has scored four goals in 10 appearances since returning to Milan in January following his departure from LA Galaxy. According to sources close to Ibrahimovic, the experienced striker is no longer convinced by Milan’s project and had been mulling over the decision for several days. Zvonimir Boban’s sacking from his role at AC Milan has pushed Ibrahimovic to the exit door Read Also: Pogba: Man Utd re-open Raiola talks in bid to find solution Gennaro Gattuso, who played with Ibrahimovic during his first stint at Milan, would like to bring the 38-year-old to Napoli. However, there is a possibility that Ibrahimovic could bring his lengthy playing career to a close and commence a new journey as a manager. FacebookTwitterWhatsAppEmail分享 Loading… center_img Promoted ContentCouples Who Celebrated Their Union In A Unique, Unforgettable WayThe Models Of Paintings Whom The Artists Were Madly In Love With6 Extreme Facts About Hurricanes7 Black Hole Facts That Will Change Your View Of The UniverseFantastic-Looking (and Probably Delicious) Bread ArtWhich Country Is The Most Romantic In The World?Birds Enjoy Living In A Gallery Space Created For Them7 Ways To Understand Your Girlfriend BetterPlaying Games For Hours Can Do This To Your BodyWhat Is A Black Hole And Is It Dangerous For Us All?8 Ways Drones Will Automate Our Future6 Incredibly Strange Facts About Hurricaneslast_img read more


first_imgIt is semi-final night of the boys sectional.  There has been only one upset in the 4 local area sectionals.  Shelbyville defeated Columbus North on North’s home floor.Tonight’s games should produce some very close matches.  Hopefully, you will have a chance to root your team on in person or be able to listen to it on WRBI.  I hope your team is still playing tomorrow night for a sectional championship and comes through as a winner.Good Luck to all!last_img

Photos as Siasia’s mother regains freedom after 75 days in captivity

first_imgRelatedPosts Siasia, Akanni lament as COVID-19 stalls CAS hearing FIFA ban: Odegbami cries for help for Siasia Siasia’s mother, others regain freedom Madam Beauty Siasia, the abducted mother of a former coach of the Super Eagles, Samson Siasia, has regained freedom after 75 days in captivity.The 78-year-old woman was freed in the early hours of Sunday, according to a family source, who pleaded anonymity.The spokesman of the Bayelsa State Police Command, Asmini Butswait, also confirmed her release to the News Agency of Nigeria in Yenagoa.The police spokesman said some personnel of the command had been sent to visit the victim, adding that a statement would be issued afterward.NAN reports that some armed men had around 2am on July 19, taken away the septuagenarian from her home in Odoni, Sagbama Local Government Area of Bayelsa State.Her abduction was the second in three years as she had earlier been kidnapped in November 2015 and released after 12 days in captivity.The former Super Eagles coach had repeatedly made series of appeal for the release of his mother while in captivity until she was finally freed on Sunday. Tags: Samson Siasialast_img read more

Schmeichel signs new Foxes deal

first_img ”I was always confident that my future would be sorted once we achieved our objective of winning promotion to the Premier League and I’d like to thank the owners and the manager for making it happen. “I can’t wait to play for this club in the Premier League. With the management team we have and the squad already here plus new additions arriving, we’ve got a great chance of having a great season.” Since being brought to Leicester from Leeds on a free transfer by former Foxes boss Sven-Goran Eriksson in June 2011, Schmeichel has established himself as a key figure in the City squad and has made over 150 appearances for the club. He has also had spells with Darlington, Bury, Falkirk, Cardiff, Coventry and Notts County during his career, totalling more than 300 appearances. Schmeichel made eight Premier League appearances during his time with Manchester City, which included a clean sheet in a 1-0 win over Manchester United – the club for whom his father, Peter, represented with some distinction for almost a decade during the 1990s. Schmeichel’s performances, which included scoring a stoppage-time equaliser against Yeovil at the King Power Stadium in March, saw him named in the PFA Championship team of the season for the second successive year. Leicester manager Nigel Pearson, himself out of contract this summer and yet to sign a new deal, told the club’s official website, “I’m delighted that Kasper will be staying with us; it’s terrific news for our club and fully deserved recognition for his application and consistency, certainly during my time here. “Kasper has been as driven as anyone to help take this club back to the Premier League and now that we have achieved that, he fully deserves the opportunity to play at that level. “A player of his quality will have had a number of options available to him, but he wants to remain part of what we’re doing at Leicester, which says a lot for where we’re going as a football club.” Schmeichel has always reiterated his desire to remain with Leicester despite interest from several other clubs. Hull tried to sign him last summer while more recently AC Milan, Arsenal and Southampton have all been linked with moves for the former Manchester City trainee. After committing his future to the club, he said: ”I’m tremendously proud to sign for this great club again. “Leicester has felt like home since the day I arrived three years ago and always felt like the right choice for me. Leicester goalkeeper Kasper Schmeichel has signed a new four-year deal with the Barclays Premier League newcomers. Like many of the Foxes’ promotion heroes, Schmeichel was out of contract in the summer but the highly-rated 27-year-old has now committed his long-term future to the club. The Denmark international was an ever-present for Nigel Pearson’s side during the 2013-14 league season as Leicester stormed to the Sky Bet Championship title with a club-record 102 points. Press Associationlast_img read more