Indonesia’s factory activity in deepest-ever contraction as pandemic disrupts supply, demand

first_img“The contraction in all of the PMI-BI components was caused by slower demand and a disrupted supply chain as a result of COVID-19,” the central bank said in a statement.Manufacturing industry contributed around 19 percent of Indonesia’s gross domestic product (GDP), which grew by 4.97 percent in the fourth quarter last year, the slowest in four years. Economic growth is expected to reach 2.3 percent this year, a 21-year low, with a possibility of contracting by 0.4 percent contraction under the worst-case scenario, government forecasts estimate.Read also: Indonesia’s factory activity at record low as COVID-19 paralyzes businessBI Governor Perry Warjiyo said on April 9 that GDP growth would reach 4.7 percent in the first quarter but would weaken to 1.1 percent in the second quarter as the government implements stricter COVID-19 containment measures. Growth is seen at 1.3 percent in the third quarter and 2.4 percent in the fourth quarter. Indonesia’s factory production contracted by a record level in the first quarter of the year as a result of weak demand and disruption to the supply chain against the backdrop of the coronavirus pandemic, the latest survey has shown.Bank Indonesia’s Prompt Manufacturing Index (PMI-BI) was recorded at 45.64 percent, the lowest level ever, compared with 51.5 percent in the fourth quarter of 2019. An index reading above 50 indicates expansion while below 50 reflects contraction.The contraction was seen in all component indexes. The order volume index was at 47.28 percent, production volume index at 43.1 percent, goods stock volume at 46.69 percent and the manpower index at 47.63 percent. The virus has infected more than 1.8 million people around the globe including 4,241 in Indonesia, forcing factories, shops and schools to close amid government-imposed lockdowns and social restrictions. This has upended supply chains and crushed demand for goods as consumers stay at home worried about job prospects, reining in consumer spending, which accounts for nearly 60 percent of Indonesia’s GDP.According to the BI-PMI survey, almost all sectors of manufacturing have tumbled in the first quarter except for food, beverages and tobacco. However, the central bank projects an improvement in factory activity in the second quarter due to increasing volume in factories.“Manufacturing activities will slightly recover in the second quarter of 2020 to 48.79 percent,” the central bank projected. “The recovery will be driven by expansion in the order volume and goods stock volume indices.”Read also: COVID-19 impacts across Indonesia’s business sectors: A recapBI’s survey was largely in line with IHS Markit’s Purchasing Managers Index (PMI), the gauge for manufacturing activities. Indonesia’s PMI slumped to 45.3, the worst in the survey’s nine-year history.”Under stricter antivirus measures, demand weakened sharply at the end of the first quarter. New business inflows fell at the fastest rate in the series history, dragged down by a plunge in export sales,” the survey statement reads.”At the same time, factory shutdowns led to a marked drop in production, with output also falling at a survey record rate.”Indonesia has implemented large scale social restrictions (PSBB) measures within the capital city Jakarta, the nation’s virus epicenter, to contain COVID-19. The measures include closing down schools and public places, prohibiting crowds gathering and restricting mobility and commercial activity to those serving essential needs only.Topics :last_img read more

Philippe Coutinho wanted Liverpool return before Bayern Munich transfer

first_imgJurgen Klopp claims Liverpool could not afford the loan deal for Coutinho (AFP/Getty Images)Jurgen Klopp is also said to have privately concluded that Coutinho would not dramatically improve his side, while he is also happy with the various attacking options he has in his squad.AdvertisementAdvertisementKlopp, meanwhile, has admitted that the move was too costly for Liverpool.‘It sounds a bit strange, but we could not afford it [to sign Coutinho], we have already spent the cash that we got for him,’ he told Goal.More: 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 City‘We were reluctant to hand him over, but Barcelona forced us with money, so to speak.‘The move makes sense for both sides. He’s a super player and a great boy. He is a world-class footballer who can change games in the right environment.’More: Manchester United FCRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseEx-Man Utd coach blasts Ed Woodward for two key transfer errors Philippe Coutinho wanted Liverpool return before Bayern Munich transfer Comment Metro Sport ReporterTuesday 20 Aug 2019 1:41 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link128Shares Philippe Coutinho was reportedly keen on returning to Liverpool (AFP/Getty Images)Philippe Coutinho wanted to return to Liverpool before completing his move to Bayern Munich, according to reports.Barcelona were open to selling the Brazil international this summer but he has now joined Bayern on a season-long loan, while the German champions have the option to buy for €120 million (£109.8m).Coutinho was heavily linked with a return to the Premier League with Manchester United, Tottenham and Arsenal all reportedly interested in a deal.But according to The Athletic, Coutinho’s representatives ‘made it clear’ to Liverpool that he would prefer a move back to Anfield.ADVERTISEMENTHowever, the report claims that Liverpool were not interested in an expensive loan deal which would include the option to buy. Advertisement Advertisementlast_img read more

Dani Ceballos to complete Arsenal return on season-long loan today

first_img Metro Sport ReporterThursday 3 Sep 2020 10:33 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link11.4kShares Ceballos is set to re-join the Gunners (Picture: Getty Images)Arsenal are set to complete the re-signing of Dani Ceballos on another season-long loan deal today, according to reports in Spain.The 24-year-old spent the 2019/20 campaign at the Emirates on loan from Real Madrid, helping fire Mikel Arteta’s side to their FA Cup triumph.It was a slow start to life in north London for Ceballos, struggling initially to break into the team under Unai Emery and then suffering an injury in November which kept him out for the best part of two months. Comment Advertisement Dani Ceballos to complete Arsenal return on season-long loan today Ceballos tasted success with the Gunners in the FA Cup (Picture: Getty Images)The Spaniard’s fortunes began to turn around under Arteta, and particularly after the Premier League restart, when he formed a solid partnership with Granit Xhaka in midfield.AdvertisementAdvertisementADVERTISEMENTCeballos returned to Madrid at the end of the domestic campaign to consider his future and even took part in training with the La Liga giants earlier this week.However, the playmaker has been allowed to return to the Gunners on another season-long loan and according to ABC, he jetted into London on Wednesday to complete his medical.The report states that he will sign the contract today to keep him at Arsenal until next summer.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 ArsenalThe news will come as a big boost for Mikel Arteta, who relied heavily on Ceballos as a creative spark in midfield.Ceballos is set to join Willian and Gabriel Magalhaes as Arsenal’s third major summer signing ahead of next season.The Gunners’ Premier League campaign kicks off on September 12 with a trip to Craven Cottage where they take on newly-promoted Fulham.MORE: Why Arsenal failed with bid for Manchester United-bound Donny van de BeekMORE: Napoli want Arsenal defender Sokratis Papastathopoulos without paying transfer feeFollow Metro Sport across our social channels, on Facebook, Twitter and InstagramFor more stories like this, check our sport page Advertisementlast_img read more

Irish regulator recruiting extra staff as IORP II transposition in sight

first_img“Irish occupational pensions are about to undergo the most significant changes in at least a generation,” he said.He highlighted as the most significant changes that trustees would need to demonstrate their focus on members’ interests – as opposed to just on compliance – and that defined benefit schemes would have to prepare and examine a much wider range of financial and actuarial data and “demonstrate that they understand and are managing their scheme so that members have a reasonable chance of receiving the benefits sit out in the scheme rules”.“The new obligations that will result from IORP II will go a long way to ensuring that members are more likely to receive their benefits and that unachievable promises are identified in good time,” he said.Kennedy also suggested that small schemes would find it challenging to comply with the new regime, which he said would specify the obligations of trustees in detail.“Although in the best schemes, these obligations are already being met, for many schemes, this is not so and much change will be needed,” he said, adding that the regulator considered that large schemes were better placed to protect the interests of pension savers.Kennedy said the regulator’s oversight would be “much more interventionist” under the IORP II regime, as it would be adopting a policy of forward-looking risk-based supervision with the objective, where possible, of preventing threats to the interests of pension scheme members.“We recognise that trustees and their advisers will need to understand their new obligations and the expectations of the Authority in considerable detail,” he added. “Communication will be an important part of the Authority’s work in coming years, especially in the immediate aftermath of the IORP II transposition.”To read the digital edition of IPE’s latest magazine click here. The Irish pensions regulator is recruiting extra staff to deliver the enhanced supervision mandated by the IORP II Directive, which it expects to be transposed into domestic law before the end of the year.In a statement on the Irish Pensions Authority’s annual report and accounts, regulator Brendan Kennedy said the organisation had received approval to increase staffing by 17 to a total of 93.5, and that the extra resources would be needed to introduce forward-looking risk-based supervision of occupational pension schemes, as mandated by the new EU pension fund directive.The IORP II requirements are another reason the Authority is looking to increase fees. Last year it said it would do so to meet the cost of delivering data to the EU pensions and insurance regulator EIOPA. At the time there was little indication IORP II would be integrated into Irish law anytime soon.With transposition of the EU legislation now in sight, according to Kennedy, he said “there can be no doubt that significant change is coming to Irish pensions, and the nature and direction of that change is clear”.last_img read more

Shooting lands man in hospital

first_imgThe motive in the shooting was notimmediately established.  The 38-year-old resident Jerry Jaronsustained a gunshot wound on the hand, a police report showed. Jerry Jaron was wounded in a shooting incident in Barangay Estefania, Bacolod City on Dec. 20. POLICE STATION 4 According to police investigators, aheated argument ensued between Jaron and Vivero around 9:10 a.m. on Dec.20.    Bacolod City – A man was shot in Barangay Estefania. Officers of Police Station 4 conducteda manhunt operation against Vivero, who fled after the incident./PN Police identified the suspect asresident Michael Vivero. This prompted Vivero to shoot Jaron,police said. Jaron was brought to the CorazonLocsin Montelibano Memorial Regional Hospital here for medical treatment.      last_img

COVID-free ICER resumes operation

first_imgIn the two weeks that ICER stopped operating, Treñas tasked the Bureau of Fire Protection to receive calls seeking emergency assistance./PN “Okay na…balik na sila sa operation,” said Treñas. ILOILO City – The city government’s emergency response unit has resumed its operation. Treñas said ICER has resumed receiving calls for emergency assistance through contact numbers 0955-986-7404 and 0919-066-1554. The first personnel to test positive for COVID-19 was ICER’s 48-year-old male driver from Barangay Sto. Niño Sur, Arevalo district. He was Western Visayas’ Patient No. 66 and was among the frontliners who underwent mass testing by the city government. The second personnel was a 28-year-old female from Jaro district or Patient No. 63. She was an administrative staff at ICER’s office. The rest of the unit’s personnel completed their 14-day quarantine and also tested negative for the illness. Immediately after ICER got its first COVID-19 case – the eighth confirmed COVID-19 case in the city – it suspended its operation and the City Health Office launched contact tracing to stop the spread of SARS-CoV-2, the virus that causes COVID-19. The two personnel of the Iloilo City Emergency Responders (ICER) who tested positive for coronavirus disease 2019 (COVID-19) have recovered, according to Mayor Jerry Treñas.last_img read more

“Hoosiers” weekend at Gibson Theatre

first_imgBATESVILLE, Ind. – The Gibson Theatre in Batesville is hosting a “Hoosiers” weekend, dedicated to the 1954 Milan Indians state championship team.Attendees will have the opportunity to meet members of the team including Bobby Plump, Glen Butte and Roger Schroder beginning at 6 p.m. Friday night. A showing of the movie “Hoosiers” will follow.The movie will also be shown Saturday afternoon at 1 p.m.Gibson Theatre owner Kim Powell said local organizations are encouraged to attend for free by contacting him at (812) 363-5530.last_img

Robert L. Fisher

first_imgRobert L. Fisher, age 89 of Greensburg, died Wednesday, February 10, 2016 at Morning Breeze. Born December 28, 1926 in Batesville, he is the son of Alice (Nee: Schomberg) and Lawrence Fisher. He married Esther Pepper October of 1970 in Peppertown, Indiana. Bob served in the army during World War II.Bob was a bit of a renaissance man. After the service, he bought the farm he worked at as boy and farmed for over 20 years, selling it after he married. He helped build the Fireside Inn at Enochsburg which in its early years was a tavern that he ran. He also helped build the Grotto behind St. Catherine of Sienna’s Church (formerly St. John’s Church) just up the road from the Fireside. He worked at Fernald for 10 years and American Manufacturing for 20. Bob was an avid baseball enthusiast. A lifelong Reds fan, he played and coached Batesville’s Tri County League team into his 40’s. He also worked for Krider’s Studio where the photography bug bit him and would become a lifelong passion. Through the years he photographed countless weddings, did commercial work for manufacturing plants and covered the Reds, becoming friends with Bench, Rose, Morgan and Knuxhall to name a few. Bob was also an accomplished artist. He would tell the story of growing up with no T.V. or radio, just a pencil and notebook, so by the light of an oil lamp, he entertained himself by sketching. Many will remember him for his music. He came from a musical family and started playing the banjo in his early teens. But he was more than just a musician, he was an entertainer. He would dress in period clothing, usually from the 20’s or 30’s which we’ve all seen……the vest, the hat, the garters on his sleeves. He continued to play with his sister and nephew up until recently when his health began to decline.Bob is survived by sisters Naomi Prickel of Batesville, Shirley Giesting of Enochsburg as well as numerous nieces and nephews. In addition to his wife and parents, he is also preceded in death by his sister Wanda Schwegman. Visitation will be Wednesday, February 17th, from 9 – 10:30 a.m. at the Weigel Funeral Home. Funeral services will follow at 11 a.m. at St. Catherine of Sienna (formerly St. John’s Church) in Enochsburg with Rev. Bill Ehalt officiating. Burial will be in St. John’s Huntersville Cemetery. The family requests memorials to Phi Beta Psi Sorority Cancer Research or Margaret Mary Health Foundation Hospicelast_img read more

2017-18 ORVC All-Conference Girls Basketball Team

first_imgThis is the 2017-2018 ORVC All-Conference Girls Basketball Teamas voted on by the head coaches of the conference schools.CICI BAILEY – MILAN; LUCY CARRIGAN – RISING SUN; MORGEN CARROLL – JAC-CEN-DEL; MARIAH DAY – JAC-CEN-DEL; KATE GROTE – SHAWE MEMORIAL; MEGAN HESSE – SHAWE MEMORIAL; PAIGE LEDFORD – JAC-CEN-DEL;MORGAN PEETZ – SOUTH RIPLEY; ABBY RALSTON – SOUTHWESTERN; JULIA REA – SOUTH RIPLEY; ELEXAH ROEPKE – SOUTH RIPLEY; LILLY SIMON – JAC-CEN-DEL; KILEY SPARKS – SOUTH RIPLEY; ALEIAH THOMAS – SWITZERLAND COUNTY; TORIA TUCKER – SOUTH RIPLEY.2017-18 ORVC Champions (Varsity). Jac-Cen-Del – Lady Eagles.2017-18 ORVC Champions (Reserve). Jac-Cen-Del – Lady Eagles.2017-18 ORVC Mental Attitude Award. Jody Breeck – SwitzerlandCounty.2017-18 ORVC Coach of the Year Scott Smith – Jac-Cen-Del.last_img read more

Rummenigge wants Alaba to finish career at Bayern Munich

first_imgBayern Munich chairman, Karl-Heinz Rummenigge, is a firm believer that David Alaba should stay at the club for the rest of his career. The versatile Austrian is being linked with a move to Manchester City, as he stalls over a new contract at Bayern. But Rummenigge is a huge fan of the ability and personality of Alaba, and he feels the player still has a lot to offer Bayern in the coming years. “First of all, I have to say about David that he had a great season,” Rummenigge told Sky Germany. “It was born out of necessity that he had to play at centre-back because we had several injuries, and then Hansi [Flick, Bayern coach] put him in this position. “He did it with flying colours. We haven’t had a ‘chief’ in defence for some time now, one who really takes the reins in hand and sets the tone there and simply acts as the head of the defensive unit – he did that.Advertisement Loading… “This has been seen especially in these coronavirus times. In these empty stadiums, his instructions showed how well he organised it at the back. Even with his style of play he is a very, very important player for us, we don’t need to talk about that. read also:Man City plan mega summer spend for Torres, Alaba, Lautaro “I am nevertheless optimistic that at the end of the day we will find a solution that David will even end his career here. “I have always said that, for me, David is actually something like Franz Beckenbauer. He is the first player to play again at this level like Franz back then. “I think David knows what he has at Bayern, and we know what we have in David.” FacebookTwitterWhatsAppEmail分享 center_img Promoted ContentCare To Try A Glow-In-The-Dark Doughnut?5 Of The World’s Most Unique Theme Parks5 Of The World’s Most Unique Theme ParksCouples Who Celebrated Their Union In A Unique, Unforgettable WayTop 10 Disney Male Role ModelsWho Is The Most Powerful Woman On Earth?13 kids at weddings who just don’t give a hoot7 Ways To Understand Your Girlfriend Better7 Train Stations In The World You Wish To Stay At LongerWhich Country Is The Most Romantic In The World?7 Things That Actually Ruin Your Phone6 Extreme Facts About Hurricaneslast_img read more