Bank Indonesia announces 5 measures to support rupiah amid market rout

first_imgBank Indonesia (BI) announced Monday five measures to stabilize the rupiah as foreign investors sold off Indonesian financial assets from stocks to bonds and after Indonesia officially reported its first coronavirus cases.First, starting March 16, the requirement for banks to store their dollar funds at BI, called the US$ reserve requirement ratio (RRR), would be lowered to 4 percent from 8 percent at present. Second, the rupiah RRR is also being lowered by 50 basis points (bps), but only for banks with clients engaged in export and import activities, starting April 1.“Lowering the foreign exchange RRR will boost banks’ liquidity by $3.2 billion while lowering the rupiah RRR will support export and import activities,” BI Governor Perry Warjiyo told a news conference in Jakarta on Monday after President Joko “Jokowi” Widodo announced the first coronavirus cases in the country. Topics : “We’ve increased the volume [of intervention] so the market is assured and confident that BI is always in the market to guard the market,” Perry said. “BI will intensify intervention in the financial market through triple intervention to stabilize the rupiah to follow its fundamental [value].”Read also: ‘Triple market intervention’: BI buys bonds, rupiah to prop up prices amid viral routFourth, the central bank now allows foreign investors who sell rupiah bonds but place their proceeds in Indonesian banks to turn them into underlying transactions in the domestic non-deliverable forward (DNDF) market. Therefore, foreign investors no longer need to hedge to offshore indexes.“This will enable investors to commit to Indonesia, which would be strong in the future,” Perry said.Fifth, BI also encourages foreign investors to use domestic banks as custodians for investment activities.“The measures could be effective to stabilize the rupiah from the supply-side of the US dollar and anchor the thin domestic foreign exchange market,” Bahana Sekuritas economist Satria Sambijantoro said.“So far, BI’s intervention to support rupiah and bond yields – including daily reverse-auctions over the past few days, amounting to Rp 2 trillion today – is focusing to resolve the demand-side problem.”Exporters of commodities such as palm oil and coal are natural foreign exchange suppliers in the spot currency market, but recently their earnings dried up due to disruption in shipments to China, Satria explained.Meanwhile, massive sell-offs in bond and equity markets have seen foreign investors converting their US dollars to rupiah, disrupting demand for the local currency, he added.Read also: Disappearing act: Market braces for volatile March after $2.4b vanishes in a week Read also: BI cuts reserve ratio, frees up $3.2b liquidity in local banks amid market sell-offJokowi announced on Monday morning that two Indonesians had tested positive for COVID-19. The two people, a 64-year-old and her 31-year-old daughter, had been in contact with a Japanese citizen who tested positive in Malaysia on Feb. 27 after visiting Indonesia in early February. Worldwide, more than 84,000 people have been infected with the virus and more than 3,000 have died with new cases increasingly emerging outside the country in which it is believed to have originated.Third, BI was conducting “triple intervention in the financial market”: stabilizing the rupiah in the domestic non-deliverable forward (DNDF) and spot markets, as well as buying government bonds (SBN) on the secondary market.The central bank has bought Rp 103 trillion (US$7.24 billion) worth of SBNs, Rp 80 trillion of which followed its assessment that the novel coronavirus may pose risks to Indonesia’s economy. Last week, foreign investors sold a net Rp 33.6 trillion (US$2.36 billion) in both Indonesian stocks and bonds, as $5 trillion was wiped off stock markets around the world in the worst week for global shares since the 2008 financial crisis.Over the week, the benchmark stock index, the Jakarta Composite Index (JCI), fell 7.3 percent to 5,452 and the rupiah depreciated by 4.1 percent to 14,234 per US dollar. Ten-year Indonesian government bond yields, which indicate investment risk, rose 35 basis points last week to 6.83 percent, the third-biggest increase after Turkey and Russia.last_img read more

Dirt Road League Basketball Updates

first_imgCongratulations to the 5th, 4th and 3rd grade boys Bulldog Basketball teams for making it to Championship Sunday this coming weekend.The 5th Grade Bulldogs (13-1) are the #2 seed and will play Richmond at 3:00 pm at the Spartan Bowl in Connersville.  In the other contests, Greensburg plays the winner of New Castle and Centerville with the championship slated for 4:00 pm.The 4th Grade Bulldogs (10-4) are the 6 seed and take on New Castle at 1:00 pm at the Spartan Arena in Connersville.  If the Bulldogs advance, they will take on Connersville Red at 3:00 pm with the championship scheduled for 5:00 pm.  Other teams in the bracket are Greensburg, Connersville White and Brownstown Black.The 3rd Grade Bulldogs (14-0) are the 1 seed and received a bye in the first round.  They will play the winner of Centerville vs. Connersville White at 3:00 pm at Batesville High School.  The Championship is at 5:00 pm.  Other teams include Connersville Red, Greensburg, Milan and Eastern Hancock.Good luck to all Bulldog teams!Courtesy of Bulldogs Coach Paul Drake.last_img read more

John wins feature race at 15th annual Hand-in-Hand cycling competition

first_imgJAMAUL John rode away with the top prize in the feature clash of the 15th annual Hand-in-Hand Mutual Fire and Life Insurance Companies cycling competition, which was held yesterday in the National Park.John, who has been in dominant form of recent, stayed with a pack of four other cyclists from the sixth of the 35 laps in the School Boys and Invitational. The riders battled well in the last lap to assert dominance and the distance that separated them was not great, but as has become the norm over the last few weeks, the 22-year-old was the first across the line in 1:15:48secs.Paul De Nobrega finished second ahead Briton John, while Christopher Griffith placed fourth and Curtis Dey fifth.  Some 21 riders started the feature event. John later said that he was elated with the win and thanked his sponsors from Team Coco’s for their continuous support.Along with the feature clash, cyclists battled in four other events.Junior Niles won the Veterans Under-50 five-lap race after finishing in a time of 13:05.45. He was followed by Kwame Ridley and Jaikarran Sukhai.  In the Veterans Over-50, Ian Jackson got the better of Andy Spencer and Kennard Lovell over five laps while in the Juveniles 10-lap, Sherwin Sampson defeated Aaron Newton after clocking 21:56.14.The Mountain Bikes five-lap Novice battle was won by Darius Ramsammy with Nigel London in second and Lennox Jackman third.In the other event, BMX Boys 6-9 two-lap race, Lennox Jackman Jr emerged ahead of Aditya Deokarran and William Green respectively.All three youngsters were presented with new bikes compliments of the sponsors. Meanwhile, Business Development Personnel Shannon Yan pledged Hand-in-Hand’s continued support of the cycling event.last_img read more

MBB : Syracuse receives No. 1 seed in East Region of NCAA Tournament

first_imgEarning a top seed for the second time in three years, Syracuse will take on 16th-seeded UNC-Asheville on Thursday in the Consol Energy Center in Pittsburgh to open its NCAA Tournament.The Orange (31-2) won the regular-season Big East championship and was rewarded with the top seed in the East Region. Syracuse’s opponent, UNC Asheville (24-9, 16-2 Big South), won the Big South conference tournament with an 80-64 win over Virginia Military on March 3.The top eight seeds in the Orange’s bracket include No. 2 Ohio State, No. 3 Florida State, No. 4 Wisconsin, No. 5 Vanderbilt, No. 6 Cincinnati, No. 7 Gonzaga and No. 8 Kansas StateSyracuse’s loss in the Big East tournament semifinals on Friday did not affect where the Orange will travel to play. Syracuse’s first two games are in Pittsburgh, and SU will travel to Boston for the Sweet 16 and Elite 8 as long as it advances.Kentucky earned the overall No. 1 seed, and the other No. 1 seeds are North Carolina and Michigan State.AdvertisementThis is placeholder textSyracuse completed its best regular season in school history, winning 30 of 31 games. The Orange won the Big East regular-season title outright with a 17-1 conference record.Syracuse fell in the Big East tournament semifinals to Cincinnati on Friday, a day after defeating Connecticut in the quarterfinals.The last time the Orange was the top seed, in 2010, it knocked off No. 16 seed Vermont in the first round in Buffalo. Syracuse fell in the Sweet 16 to fifth-seeded Butler in Salt Lake City.Syracuse has not advanced past the Sweet 16 since 2003, when the Orange, led by Carmelo Anthony, won its lone national Published on March 10, 2012 at 12:00 pm Contact Mark: | @mark_cooperjr Facebook Twitter Google+center_img Commentslast_img read more

Twenty-One Southland Athletes Punch Tickets to NCAA Outdoor Championships

first_imgA full schedule of events can be found here. Southeastern LouisianaMen:Devin King (Pole Vault) – 2nd out 39, 17-06.50Adrian Williams (Javelin Throw) – 12th out of 46, 206-04 Northwestern StateMen:Micah Larkins (100m) – 10th out of 24 – 10.134x100m Relay (Kie’Ave Harry, Micah Larkins, Amir James, Tre’Darius Carr) – 10th out of 21 – 39.34Cedric Paul (Shot Put) – 12th out of 47 – 61-03.50 Featured events will broadcast live across the ESPN family of networks, including ESPN, ESPN2, ESPNU and ESPN3. A detailed list of event broadcasts can be found here. McNeese earned a pair of qualifiers and Texas A&M-Corpus Christi garnered one out of their preliminaries. Cowgirl javelin thrower Morgan Woods finished eighth in her prelim while heptathlete Grace McKenzie earned a spot with her point total of 5,619. Islander pole vaulter Hannah McWilliams finished sixth. Sam Houston State will send seven total athletes qualifying out of the West Preliminary. Chris Jefferson qualified in the 100m as well as the 4x100m relay along with Fabian McCall, AJ Tisdel and Lawrence Coleman. Clayton Fritsch earned a spot in Eugene in the pole vault while Joshua Hernandez qualified in the hammer throw and Zachary Johnson nabbed the 12th and final spot in the triple jump. McNeeseWomen:Morgan Woods (Javelin Throw) – 8th out of 47 – 161-07Grace McKenzie (Heptathlon) – 5,619 Sam Houston StateMen:Chris Jefferson (100m) – 6th out of 24 – 10.394x100m Relay (Fabian McCall, Chris Jefferson, AJ Tisdel, Lawrence Coleman) – 10th out of 20 – 39.83Clayton Fritsch (Pole Vault) – 5th out of 38 – 17-02.75Zachary Johnson (Triple Jump) – 12th out of 45 – 51-02.75Joshua Hernandez (Hammer Throw) – 9th out of 45 – 210-08 Women:4x100m Relay (Daeshon Gordon, De’Shalyn Jones, Natashia Jackson, Deja Moore) – 9th out of 21 – 44.74Daeshon Gordon (100m Hurdles) – 8th out of 23 – 13.31 Northwestern State leads the way with nine total athletes qualifying in the East Preliminary. Micah Larkins finished 10th out of 24 in the 100m to qualify for Eugene along with the 4x100m relay with fellow Demons Kie’Ave Harry, Micah Larkins and Tre’Darius Carr. Cedric Paul earned the final qualifying spot in the shot put. On the Lady Demons’ side, the 4x100m relay squad of Daeshon Gordon, De’Shalyn Jones, Natashia Jackson and Deja Moore finished 10th out of 21 to earn a spot in Oregon. Daeshon Gordon finished 8th out of 23 in the 100m hurdles to earn an individual spot at the NCAA championships. Championships Homepage | Final Qualifying Lists | East Prelim Results | West Prelim ResultsEUGENE, Ore. – A total of 21 student-athletes from five Southland Conference universities will represent the league at the 2018 NCAA Division I Outdoor Track & Field Championships. Competition will be held from June 6-9 at University of Oregon’s Hayward Field in Eugene, Ore. Southeastern Louisiana sends one of the nation’s best pole vaulter in Devin King, who finished tied for first in his preliminary with a cleared height of 17-06.50. His top mark of the season (19-0.25) ranks second in Division I. Adrian Williams also qualified in the men’s javelin for the Lions. Texas A&M-Corpus ChristiWomen:Hannah McWilliams (Pole Vault) – 6th out of 40, 13-08.50last_img read more

Putting the Sex Back in Travel

first_imgSource = roomsXML Putting the Sex Back in TravelTravel is romantic, exciting….sexy….is that how you think of it?“Seriously, there’s just something sexy about travel.”When you are having a discussion about pricing, allocation and contracting, dropping a gem like this one is bound to make people sit up. A few drinks often helps.It makes sense. People are going places, disconnecting from the usual reality, even if it’s the same flight the make 12 times a year, it’s just something that little bit different. Eyes open a little wider, smiles are more plentiful, a sense of adventure emerges.Maybe it’s Sydney for the day, that trip of a lifetime to Paris, maybe it’s a quick trip to Hobart  for a quickie.Whilst taxis are seldom sexy, they get you from airport to hotel and suddenly you’re standing in a beautiful foyer.“Welcome Sir/Madam” says the fresh faced, hot, mid 20s staff member who speaks four different languages and is the gateway to a room upgrade with a view. The day-to-day dissappears ; your bed is made, your dishes put away as you step out onto the balcony and watch the sunset in Positano, hand-in-hand with the one you love .I didn’t expect a Middle Eastern airline to pioneer double beds (and the surest fire way to legal mile high club entry) in business class. The marketing shots showed a mum and her young daughter having a cuddle. I imagine it’s not in most people’s minds.Fresh eyes on travel of the inspiration we need for those new ideas . For many of my friends outside of travel, there is palpable excitement at the prospect of travelling. When they say “wow, when are you going to India next” they day dream of temples, spice markets, the  sunset in Goa. My first thought is six hours waiting at two different airports for connections and the personal space adjustment and sweaty arm pits.But if someone said to me they were going to Paris (a close friend said he and his wife went for 10 days and had sex every day… Best holiday he ever had… can’t remember any of the art galleries) I’m thinking “How cool”.You can’t make those promises but when building the dream,  consider building some of that love and affection into your travel talk with customersLadies make a lot of decisions, see use keywords such as “romance”, “intimate” and “great for couples”Get a room with a view, and most definitely a balconyRecommend booking a great restaurant before they go and popping it in the diaryFind some safe babysitting networks your customersFor travel professionals it’s a never-ending procession of peak periods, lulls, changes, contracts and chasing bonuses. But for the person at the other end it can be something very, very different. learn more about herelast_img read more