Indonesia’s economy heads into turbulence as Q1 growth plunges: Economists

first_imgHe expected the economy to contract 0.8 percent if the pandemic continued into the third quarter, adding that the economy would grow at a range of between 1.2 and 2 percent if the health crisis subsided by June.“It is crucial to immediately end the virus crisis through containment measures,” Fithra said.The Jakarta Composite Index (JCI) erased some of its gains on Tuesday after the announcement but closed trading up 0.53 percent to 4,630.13 while the rupiah appreciated by 0.13 percent to Rp 15,080 per US dollar on the day.Four provinces and 22 regencies/cities nationwide have implemented large scale social restrictions to contain the virus spread, forcing businesses to close and hitting demand as people are required to stay at home. More than 12,000 people have contracted the disease in Indonesia with a death toll reaching at least 870 as of Tuesday afternoon, official data showed. Household spending, which accounts for more than half of GDP, grew sluggishly by 2.84 percent in the first quarter – far lower than the 5.01 percent recorded over the same period in 2019, while investment, the second-largest contributor, grew 1.7 percent versus the 5.03 percent recorded in January-March last year.Government expenditure grew by 3.74 percent in the first quarter, lower than the 5.22 percent growth recorded in the same period last year. Exports increased by 0.24 percent while imports contracted by 2.19 percent as Indonesia’s major trading partners, such as China, went into lockdowns.Fitch Solutions wrote in its research note on April 22 that it expected consumer spending growth to tank to 1.2 percent this year as more Indonesians lose their jobs during the pandemic.“The second quarter GDP growth is expected to be significantly lower than that of the first quarter as the prolonged pandemic limits people’s travel and activities,” Bank Mandiri economist Andry Asmoro said. “Furthermore, high uncertainty about when the COVID-19 pandemic will completely end could drag down the full-year figure to below 2 percent.”The government has forecast the country’s economy to expand by 2.3 percent this year in the baseline scenario, or contract by 0.4 percent in the worst-case scenario.Permata Bank economist Josua Pardede called on the government to expedite its spending on social safety nets, as well as to re-allocate more funds to mitigate the economic devastation caused by the pandemic.“The economy may grow between zero to 1 percent this year if economic activity does not pick up in the third quarter,” Josua told the Post.“The government’s budget re-allocation must be improved to focus more on COVID-19 relief in a bid to protect households’ purchasing power,” he said, adding that the zero growth projection would translate into 5 million to 8 million people losing their jobs in the months ahead as the pandemic chokes companies’ cash flows.Around 2.8 million people had been laid off as of mid-April, according to the Manpower Ministry and the Workers Social Security Agency (BPJS Ketenagakerjaan), with more than half of them on paid or unpaid leave.The Finance Ministry’s Fiscal Policy Agency (BKF) head, Febrio Nathan Kacaribu, said the government would speed up the distribution of its social assistance in the second quarter, especially the stimulus for micro, small and medium businesses.“With this kind of cushion, the government is hoping to ease the pressure on households and businesses, particularly small and medium businesses,” Febrio said in a statement to reporters.The government has allocated funds of Rp 436.1 trillion (US$28.9 billion), mainly for healthcare spending, social safety nets and incentives for laid-off workers, among other things, as it works to soften the pandemic’s impact on the economy.Topics : Indonesia’s economy is heading into turbulence as the COVID-19 pandemic is expected to further batter growth after the country recorded the weakest economic expansion since 2001 in the first quarter of the year, economists have warned.The country’s gross domestic product (GDP) grew 2.97 percent year-on-year (yoy) in the first three months of the year as household spending and investment growth slowed amid the coronavirus outbreak, Statistics Indonesia (BPS) announced on Tuesday. The growth is weaker than the government’s, the central bank’s and economists’ projections of around 4 percent.“The sudden stop in economic activity during the first quarter marks the beginning of weak GDP growth caused by the pandemic,” University of Indonesia economist Fithra Faisal told The Jakarta Post on Tuesday. “We are heading into the weakest growth since the 1998-1999 Asian financial crisis.”last_img read more

Man sent forward for trial for alleged murder of Donegal woman

first_imgA man charged with the murder of a young Donegal woman has been sent forward for trial to the Central Criminal Court.Richard Burke appeared at Letterkenny District Court today where he was served with a book of evidence. Burke, from Forest Park in Killygordon, is charged in connection with the murder of his partner Jasmine McMonagle in Killygordon in January.Detective Sgt Michael Galvin told the court that he served a book of evidence on the 27 year old accused earlier today.Garda Sgt Gerard Dalton said the Director of Public Prosecutions has consented to send the accused forward for trial at the Central Criminal Court on April 29th next.Barrister Gareth McGrory asked for a second counsel to be appointed and also to allow for a psychiatric report to be carried out on the accused.Burke, dressed in blue jeans and a wine-coloured shirt, nodded during the brief court appearance but did not speak.The case was adjourned until April 29th to the Central Criminal Court.The late Jasmine McMonagle.Man sent forward for trial for alleged murder of Donegal woman was last modified: April 16th, 2019 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalKillygordonmurderRichard Burkelast_img read more

Sharks mailbag: Who plays, and who sits once Radim Simek and Dalton Prout return?

first_imgBUFFALO, N.Y. — The Sharks put a miserable first week of the regular season behind them to go 3-1-0 in the last 10 days. Still, there’s a lot of work to do and some questions to be answered over the next few weeks.Here’s a peek at this week’s Sharks mailbag.How close are (Radim) Simek and (Dalton) Prout to returning? Who will be heading out to give them roster spots? (@teal_puck)From your point of view, I’m curious to know which 6D you think the Sharks will play when Simek and Prout are …last_img read more

Habana: 50 test tries for South Africa

first_imgHowever, he was far from alone among the newcomers and they all made meaningful contributions along the way. JJ Engelbrecht, Trevor Nyakane, Siya Kolisi, Jan Serfontein, Piet van Zyl, Arno Botha and Jano Vermaak were given opportunities during the Series and all looked at home in the test arena. South Africa claimed the honours in the Castle Incoming Series on Saturday night after an impressive 56-23 victory over Samoa in the final at Loftus Versfeld. Scotland finished third after scraping a 30-29 win over Italy. With le Roux installed at number 15, one now recalls why former fullbacks Andre Joubert and Gysie Pienaar were such fan favourites; a running fullback, with an understanding of when to attack, adds a new dimension to a backline and it is something that the Springboks have missed in recent seasons. 24 June 2013 Engelbrecht scored tries in each of the three tests, while Kolisi was named man of the match after coming on early for an injured Botha in the test against Scotland, and prop Nyakane rounded off the win over Samoa with a popular try at Loftus Versfeld, which was followed by a celebratory dance. After a few errors at the start of the contest, Willie le Roux, one of the newcomers to international rugby, showed why he deserved to be wearing the green and gold with some exciting incisions into the backline, including setting up Bryan Habana for the opening try of the match. Would you like to use this article in your publication or on your website? See: Using SAinfo material ‘Physical’“It was always going to be a physical game against Samoa, but I think the boys stepped up. It was a physical game from both sides and that’s what makes it exciting. The guys didn’t back away from the challenge and made an impact,” Louw told Jacaranda FM’s Trevor Cramer. “It’s a great effort,” said Bok captain Jean de Villiers at the post-match press conference. “To score 50 in a career is great, to score 50 for your country is really special. “It’s been an unbelievable ride,” he said after the game. “Hopefully I keep on improving, not only on the rugby field, but off it as well, and hopefully I continue contributing to the success of Springbok rugby.” Having introduced so many players to the green and gold jersey, Meyer will no doubt be pleased with what he saw from them. The opposition was not as tough as that the team will face in the Castle Lager Rugby Championship, which begins in August, but they provided just the kind of stepping stone that the coach would have liked to order before the big southern hemisphere showdowns. Before the Series began, coach Heynecke Meyer was surely hoping to see game by game progression from his charges and against Samoa it was clear that the players had begun to gel as a unit. They produced a good, at times excellent, all- round game to overpower a team that had beaten Scotland 27-17 and crushed Italy 39-10 in its two previous outings. Most obvious improvementLe Roux’s contribution was the most obvious improvement for the Springboks and credit to him as a player with Griquas, traditionally not one of the country’s leading provincial teams, for making such an impact that his national team candidacy could not be ignored. “But he’s a classy player. He’s a world class player. He’s been IRB World Player of the Year [in the past] and there always seems to be magic when he touches the ball. He’s a special guy and hopefully he can continue with that form.” ExcitingCiting some of the greats he had played with in his career, including Os du Randt, Percy Montgomery, Victor Matfield, Bakkies Botha, John Smit, Fourie du Preez, Schalk Burger, Habana said it was exciting to have played with them and to now be part of a young team. The two flanks, Francois Louw, who missed the previous test because it clashed with his marriage, and battering ram Willem Alberts, who was out with injury, were singled out by coach Meyer for praise. “I thought Francois and Willem brought a lot of physicality to the game and Francois was brilliant in the loose. I knew he was going to play a great game.” DanceNyakane elaborated: “The dance is something I always do with Free State with Raymond (Rhule), so when I scored the try Bryan was like ‘We have to do it, brother’ and I was like ‘okay’. He’s my senior. He’s been there before me. Why not? It was my first [test] try so I had to celebrate and I enjoyed it quite a lot.” Teamwork“But I think he will be the first to say, as well, that a lot of the hard work was done by the forwards and the other guys on the field, and sometimes he was just there at the end,” De Villiers said. Encouragingly, decisive contributions came from national team veterans and rookies alike. From an individual standpoint, the highlight of the win over the Samoans was produced by Bryan Habana, who, with two tries, became the first Springbok to score 50 test tries. Before they return to international action, the players will complete the Super Rugby season, which resumes on 28 June and finishes on 3 August.last_img read more

Congress to unpack retail success

first_imgThis year’s World Retail Congress Africa will be held in the continent’s economic hub, Johannesburg.(Image: Brand South Africa) Professor David Block, was one of four astronomers who studied the Hypatia pebble.(Image: World Retail Congress)MEDIA CONTACTS • World Retail Congress+44 (0)203 033 2020MediaClub South Africa reporterMore than 250 retail leaders from across the world will meet in Johannesburg at the World Retail Congress Africa, to be held from 4 to 6 November, to discuss, debate and define the future of retail on the continent.The World Retail Congress Africa is new to sub-Saharan Africa, created in response to the rapidly changing and diversifying marketplaces on the continent. It is anticipated that it will go straight to the heart of retail opportunities, and that speakers will look at servicing and understanding the new African consumer across new channels in new markets. They will also provide global retail intelligence, with an Africa market focus.No other continent offers the same growth potential for retailers as Africa. Faced with limited population growth and sluggish economies at home, many American and particularly European retailers are expanding into emerging markets in the hope of finding growth opportunities. But competition is intense in the large markets of China and Brazil, prompting many to look elsewhere to gain an advantage. Africa is a good place to look: although traditional forms of retailing are still dominant on the continent, a growing middle class is demanding branded products and the opportunity to shop in modern retail formats.Africa’s main challenges, however, lie in its enormous size and diversity: Africa is not one country. A thorough understanding of local cultures, beliefs, customs, economics, and practices is necessary for success. With this in mind, the World Retail Congress Africa agenda will focus on specific country case studies to help participants identify the opportunities, and grow their business based on successful examples across the continent.For African groups to expand their presence, they must build brands underpinned by local insights that motivate African consumers while delivering on a global standard.Stakeholders in the sector are encouraged to attend the congress. Effective and prosperous businesses in the most promising countries will explain how they have changed their business models through understanding consumer trends. More than 40 sessions have been planned for the two-day congress, covering a variety of topics, such as:$1·         The informal versus formal retail economy – financing retail development and roll-out through domestic financing, and funding from Brics members and the West;$1·         Identifying sustainable growth markets – market insight and chief executive officer case studies from Angola, Botswana, Egypt, Kenya, Nigeria and South Africa;$1·         Online consumers – introducing the online, mobile, connected African consumer and new retail opportunities;$1·         Entering African retail successfully – business models, including joint ventures, franchises, and acquisitions, and market conditions for launch and expansion; and,$1·         Delivering best practice operational excellence and supply chain management to exceed customer expectations.More than 60 speakers, all leaders in their fields, have been confirmed. They will bring personal and continent-wide insights on successfully adapting to a changing marketplace. They include:$1·         Steve Hammett, president – retail at Al Futtaim, United Arab Emirates (Marks & Spencer);$1·         David Kneale, chief executive, Clicks Group;$1·         Therese Gearhart, president South Africa, Coca-Cola;$1·         Paula Disberry, group planning head, Woolworths;$1·         Jonathan Ciano, chief executive, Uchumi;$1·         Jeremy Hodara, managing director, jumia.com.ng;$1·         Sullivan O’Carroll, chairman and managing director South Africa, Nestlé;$1·         Bill Paladino, chief executive internet, MIH, Naspers Africa (including Kalahari.com);$1·         Andre Farber, executive vice president, Grupo Boticário;$1·         Yaw Nsarkoh, managing director East and South Africa, Unilever;$1·         Suzanne Ackerman, transformation director, Pick n Pay; and,$1·         Mncane Mthunzi, group head – Africa food retail and supplier development, Massmart.Success stories in particular nations will also be unpacked:● Angola: How can one conduct business successfully in Angola? What are the business models that are working? The Angola country session will hear from Grupo Boticário, which after more than 35 years of successful franchising in Brazil, is considered the largest point of sale network in cosmetics and fragrances in the world. In Angola, a well-financed country, it sells to the international consumer base at the heart of the country’s oil economy. The session will look at what changes it effected to remain locally minded and sensitive to the needs of its growing consumer groups. Speakers: Nicolas Borrero Pabon, international business unit manager, and Andre Farber, executive vice-president, Grupo Boticário● Botswana: As one of the leading supermarket brands in Botswana, Choppies addresses the one to three level consumer in Africa. The brand is now in neighbouring countries, including South Africa. Botswana itself has been identified by AT Kearney’s Global Retail Development Index as the top sub-Saharan African country for retail business. This session will look at what it means to address the bottom of the pyramid consumer now and the potential in the sector. Speaker: Ramachandran Ottapathu, chief executive, Choppies● Egypt: The Al-Futtaim Group, founded over 70 years ago, is one of the most respected corporations in the lower Gulf and North Africa. It operates more than 65 companies across diverse retail sectors, including Ikea, Marks & Spencer, Toys R’ Us, Robinsons and Guess. Despite its recent political instability, Egypt is a lucrative market when you manage to get it right. Learn how Marks & Spencer in Egypt has managed to survive and thrive in this environment. Speaker: Steve Hammett, president – retail, Al Futtaim (Marks & Spencer)● Kenya: As the largest retailer in East Africa, including Kenya, Uganda and Rwanda, Nakumatt is still expanding into the wider region and plans to add internet shopping to its direct-to-consumer platforms. Find out how to deliver retail experiences to 41 million people and how to prioritise markets for expansion. Speaker: Thiagarajan Ramamurthy, director of strategy and operations, Nakumatt● Nigeria: Nigeria’s online retail industry is on the rise more so than any other African country. What makes the conditions right in this country to set up and grow your online business? How can online retail businesses survive and negotiate the existing offline challenges of getting product to market? This session will look at funding, accessing core online consumers vis-a-vis mobile network development, and remaining innovative and relevant as new physical and online competition hits the commercial sphere. Speaker: Sim Shagaya, chief executive, Konga.com● South Africa: One of the largest retailers in Africa, Woolworths is a South African chain that extends, through franchise partnerships, throughout Africa and into the Middle East, trading through more than 400 outlets. How does Woolworths split its approach to the rest of Africa’s markets and non-grocery strategy, where supply chain complexities exist? This session will look at best practice in sourcing, trending and keeping the customer at heart. Speaker: Paula Disberry, group director retail operations and international, Woolworths.last_img read more

Show your cache some love

first_img SharePrint RelatedLove is in the air. And locked to a gate. — Love Lock Eeuwige Liefde !?! (GC41QJY) — Geocache of the WeekFebruary 12, 2014In “Community”Winner Winner Geocache Dinner! — Wheel of Fortune … Spins (GC282CQ) — Geocache of the WeekSeptember 25, 2014In “Geocache of the Week”Four tips for hiding quality geocachesFebruary 19, 2019In “Geocaching Weekly Newsletter” Geocachers show their geocaching love in many ways. For some, it’s as simple as finding and hiding geocaches. Others with trackable stickers and geocaching swag. Some geocachers even show love to each other through geocaching. There have been a lucky few who have used geocaches to propose to their significant other!With Valentine’s Day coming up in many countries, it’s time to think about how to show your love as geocache owner. Start with visiting your cache and follow our simple checklist to make sure geocachers can find and enjoy your cache for years to come!Check if your geocache is there: There are many factors that can affect your geocache, from muggles to animals, make sure your geocache is still hidden in the intended location. Inspect your container: Have the elements been hard on your cache container? If so, consider replacing it.Review your hint: Does it still make sense? Sometimes weather or other forces change the geocache surroundings. Make sure you are still leading people in the right direction!Assess the logbook: Check to see if your logbook is still in good condition and has plenty of space for future geocachers. No one likes a full wet logbook!Check for trackables: If your geocache has trackables, do a quick inventory. Mark trackables as missing if they are listed in the inventory but no longer are in the cache.If there is an issue with your cache that cannot be immediately fixed, please temporarily disable the cache listing, so that people do not search for it, and fix the issue as soon as possible. Although cache maintenance is the cache owner’s responsibility, courteous geocachers often help, which helps increase the quality of the game for all! How do you show your geocaching love? Post your stories in the comments!Share with your Friends:Morelast_img read more

SlideShare Used to Spread Malware

first_imgFacebook is Becoming Less Personal and More Pro… When it comes to spreading malware on the web, virus writers are nothing if not creative. We’ve seen malware infiltrate everything from Facebook to Twitter to email to IM. Now it seems you can add another site to that list: Slideshare, the community for sharing your slideshow presentations on the web. Over the weekend, security firm ESET discovered that this popular social media resource was being used to spread malware in the form of fake slide decks. Although these initial attacks were relatively simple to detect, future variations could easily become more deceiving. That’s Not a Slideshow, It’s a Virus!According to ESET’s report, the attackers created slide decks which would contain a link to a malware-laden website and would then lure unsuspecting victims to Slideshare using traditional social engineering tactics. The presentations themselves should have raised a red flag for careful users, we think, but we have no way of knowing how successful they were at this time.One of the presentations found included just one slide with a single link. The slideshow was purportedly offering a cracked download of ESET’s own NOD32 scanner, an antivirus software program. To lend credibility to the download, the attackers added in the SourceForge logo (as if the open-source application directory SourceForge was a place to find cracked warez!) Of course, when the user clicked the link, they wouldn’t end up on SourceForge, but on a spoofed site that looked very similar. A window would then pop up prompting the user to download a .EXE file. Since the user already thought they were accessing a link for a software installation program, they would click the link and let their computer be infected with the malware. Guide to Performing Bulk Email Verification Of course you may scoff at these victims since they were trying to get “something for nothing” – in this case, a free anti-virus program when really they were being given a free virus instead. However, while you may not have fallen for this particular scam, it’s only one example of how the SlideShare platform could be used for nefarious purposes such as this. It’s not far-fetched to imagine that in the future attackers could create even harder-to-detect malware-infused slideshows. We foresee them copying a legitimate slideshow from the site and then including an extra page with their malicious link. News like this is all the more reason to run a good anti-virus program on your PC. SlideShare Responds QuicklyIn SlideShare’s defense, they took action quickly against this threat. As soon as it was brought to their attention by way of the ESET blog post, SlideShare CoFounder Amit Ranjan responded in the comments saying: “I just wanted to let readers know that the offending user account has been removed. Thanks a ton for bringing this to our notice. Spam slideshows are a problem for us. And as this example shows, they can be turned malicious as well. In case anyone comes across any other user account from where this is happening, please email us, and we shall take immediate action. As a company we are committed to stop all such malpractices.”However, the rogue account which had been used to spread the malware had joined the SlideShare community in June 2009 and had uploaded as many as 2473 presentations before they were banned this week. Social Sites Need to Think About SecurityThe more popular the site becomes, the more likely it will be used to spread malware, so perhaps SlideShare should be somewhat flattered that they’ve reached this level of notoriety. They’ve now joined the ranks of many other social networking sites who have seen regular malware threats invade their platforms. Facebook, for instance, has come under attack multiple times in the past, the most memorable of which was the Koobface trojan which leaped outside of Facebook to spread to other social networking sites. It continues to evolve, even infecting Twitter as recently as last month. But Facebook isn’t the only example by any means of social sites under attack. Unfortunately, any website or social community where users are allowed to post content could become victim to threats such as this. What’s odd, though, is how many sites seem to think of security as an afterthought. Case in point, it was only on Monday of this week that we saw Twitter start filtering malicious links from being posted. These are the sort of features that really should have been included from the get-go. In SlideShare’s case, they may eventually have to go the same route as Twitter and partner with a malware-scanning service like Google’s Safe Browsing API to make sure their hosted content isn’t dangerous to their users. In fact, they may want to start looking into that right now. The Dos and Don’ts of Brand Awareness Videos Related Posts sarah perez Tags:#news#NYT#social networks#Trends#web A Comprehensive Guide to a Content Auditlast_img read more

Xiaomi launches smartphone dock that checks blood pressure, heart rate

first_imgForget reaching out for those use-at-home devices or the hospital to check your blood pressure and heart rate. Here comes a much handy gadget that can do the job for you, and it is none other than your smartphone!Xiaomi has launched a smartphone dock in partnership with iHealth Labs that will be used to monitor blood pressure and heart rate. The company reportedly invested $25 million in iHealth Labs this week.As reported by a website, the smartphone dock will go on sale exclusively via Xiaomi’s website in China at a price of CNY 199. It can measure both the systolic and diastolic blood pressure along with the heart rate.The dock sports an attached pad that is attached to the person’s arm to take readings using the app on your smartphone. It is easy to use as Xiaomi states, and is ideal for elderly users. The results of the blood pressure and heart rate can be shared with others via the companion app.iHealth Labs has launched similar blood pressure dock for the iPhone which was much expensive than Xiaomi’s dock with a price tag of $79.95. Xiaomi’s debut in health-related gadgets was in July when it launched Mi Band alongside the Mi4 smartphone.last_img read more