Indonesia to issue bonds to rescue businesses affected by COVID-19

first_img“The government will handle the proceeds of the funds to finance all businesses. This is to awaken business activities,” Susiwijono said during a media briefing.Companies looking to receive funds from bond sales were barred from employee layoffs, he said. “If they need to lay off employees, then they must keep at least 90 percent of their employees with the same salary amounts [as before the crisis].”Read also: Battered by virus: Businesses across Indonesia feel the pinchThe government’s plan comes as European Central Bank chief Christine Lagarde asks euro zone finance ministers to seriously consider a one-off joint debt issue of “coronabonds” to help fight the coronavirus pandemic, Reuters reported.The COVID-19-driven slowdown was likely to slash Indonesia’s growth to just above 4 percent this year, the lowest in 15 years, Finance Minister Sri Mulyani Indrawati said as the government prepares for the worst-case scenario of zero growth. From empty malls to factory disruptions, micro and small businesses have suffered the most.The government would reallocate Rp 62.3 trillion (US$3.9 billion) of state spending from the 2020 budget to tackle COVID-19 in Indonesia, on top of the Rp 120 trillion allocated to stimulate the economy.BI has also spent Rp 168.2 trillion so far this year, buying government bonds in the secondary market to stabilize the rupiah as foreign investors dump Rp 125.2 trillion worth of government bonds. The rupiah, now at around Rp 16,277 per US dollar, is the worst-performing currency in Asia.“The central bank will continue to intervene through the spot market, domestic non-deliverable forwards and bonds if needed,” Perry pledged as the rupiah weakened almost 20 percent since January.As of Wednesday, Indonesia had 790 confirmed cases of COVID-19 and 58 deaths. Globally, the pneumonia-like illness has infected over 471,000 people and has claimed at least 21,000 lives.President Joko “Jokowi” Widodo has revealed that government officials and legislators are in talks to raise Indonesia’s budget deficit cap, which would allow the state to borrow more money to fund emergency response measures to the pandemic. The budget deficit cap could be raised to 5 percent from the current 3 percent ceiling.Topics : Indonesia is planning to offer government debt papers to the market, the proceeds of which would be used to fund programs that rescue businesses suffering from COVID-19 and prevent layoffs.Secretary to the coordinating economic affairs minister, Susiwijono Moegiarso, said Thursday the government would issue a government regulation in lieu of law (Perppu) on Friday to facilitate the plan.The so-called “recovery bond” can be bought by Bank Indonesia (BI), as well as exporters and importers, Susiwijoyo said, adding the Perppu would enable the central bank to buy government bonds not only in the secondary market. The existing law on BI prohibits the central bank from buying government bonds except in the secondary market.last_img read more

Iker Casillas hospitalized after suffering heart attack in training

first_imgPorto goalkeeper Iker Casillas has been taken to hospital after suffering a heart attack at their training ground, the club has said.The 37-year-old is “stable” in hospital and remains under observation.Spain goalkeeper Casillas won three Champions League titles, and La Liga five times, at Real Madrid.He was also part of the national squad that won two successive European Championships, in 2008 and 2012, and the World Cup in 2010.A Porto statement read: “Casillas suffered an acute myocardial infarction during Wednesday morning training session held at the PortoGaia training centre in Olival.“The work session was promptly interrupted to provide assistance to the Porto goalkeeper, who is currently at the Hospital CUF Porto. Casillas is well, stable and his heart problem [is] solved.”His former club Real Madrid published a statement, sending their former keeper “all the courage of the world”.“Real Madrid wants to transmit all their support to their beloved captain Casillas,” the statement read.“Casillas has taught us throughout his professional career to overcome the most incredible challenges to enhance the glory of our club.“It has taught us that giving up does not fit into our philosophy of life and has shown us countless times that being stronger the harder the challenge is, the way to achieve victory.“Real Madrid want to see their eternal captain recovered as soon as possible and send him all the courage of the world.”Source: BBClast_img read more

B&H Handball Team in the Second Group

first_imgB&H handball representation will find out the name of the opponent in barrage to qualify for World Championship 2015 in Qatar.B&H handball team is classified in the second group and as its opponent will be one of the representations: Austria, Belarus, Hungary, Iceland, Macedonia, Poland, Russia, Serbia or Sweden.With the B&H representation in the second group are four winners of group qualifications: Greece, Lithuania, Romania and Slovenia. The best third qualifying team for European Championship is Germany and the worst three representations of European Championship are: Norway, Czech Republic and Montenegro.The team drawing will be held on 26 January, in Herning.The first barrage matches are scheduled on 7/8 June and return matches are scheduled 7 days later. Winners of these matches will qualify for the World Championship.(Source: Fena)last_img read more

Highway Diner 81 is open in the former building of A&W Restaurant

first_imgby Tracy McCue, Sumner Newscow — A new sign has been erected at the restaurant formerly known as A&W Restaurant. The new digs is called “Highway Diner 81” . This billboard was put in place today. Look for the newly black painted roof.  Follow us on Twitter. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments (7) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. +4 Vote up Vote down Will miss it · 330 weeks ago What is sad is I drove threw Iola the other day by their A&W and they looked packed at noon. Just saying. Report Reply 0 replies · active 330 weeks ago +7 Vote up Vote down Small Town Boy · 330 weeks ago Is it “Highway Diner 81” or “Highway 81 Diner”? Just curious, but the latter sounds better. Either way, good luck to them! Report Reply 0 replies · active 330 weeks ago +8 Vote up Vote down Resident · 330 weeks ago My husband & I ate at the diner last week. Very good food & service was excellent! The new owner has kept a lot of the same old A&W food, just renamed. Everyone should try it out!! Report Reply 0 replies · active 330 weeks ago +3 Vote up Vote down Pokesalad · 329 weeks ago Post a example menu would be nice if possible, stick to the work place bullentin board. Report Reply 0 replies · active 329 weeks ago +3 Vote up Vote down Jim · 329 weeks ago We like highway 81 diner also Report Reply 0 replies · active 329 weeks ago 0 Vote up Vote down Wayfinding Signage · 328 weeks ago Highway Diner 81 in former building. Wow, let’s hope they have some serious plans to keep things going there. Report Reply 0 replies · active 328 weeks ago 0 Vote up Vote down sharon · 313 weeks ago Drove over from Winfield today to eat at A & W…sad it is closed.. Report Reply 0 replies · active 313 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new commentslast_img read more