first_imgFinance Minister Sri Mulyani has said that the country’s economic recovery from the COVID-19 pandemic will depend on the fiscal stimulus package and on economic reforms brought about by the omnibus bills.While the government’s virus handling measures would remain a key determinant of economic activity, the minister said, the economy could recover from the pandemic if the stimulus succeeded in stimulating demand and encouraging production.“We want to make sure that the economy recovers by combining fiscal support with reforms to the investment climate,” Sri Mulyani said at an online seminar hosted by the Asian Development Bank (ADB). “The omnibus bill on job creation will overhaul Indonesia’s investment policy to attract investment and build confidence.” ADB president Masatsugu Asakawa said the bank was ready to assist member countries, including Indonesia, if the outbreak continued, adding that the bank had prepared $20 billion for countries to fight the pandemic.“We estimate that the economic losses from the pandemic could be as high as 8.25 percent of regional GDP in developing Asia,” he said, which would mark the first regional contraction in 60 years. “We stress that if the third wave of the pandemic hits members, the ADB stands ready to provide further assistance.”The ADB expects the Indonesian economy to shrink by 1 percent in 2020, a revision down from the ADB’s previous projection of 2.5 percent growth and one largely in line with the government’s prediction.In the forum, attended by several Asian finance ministers and central bank governors, Sri Mulyani urged stronger global cooperation to develop a COVID-19 vaccine and rebuild the global economy, saying the future of globalization was “not encouraging”.“Although we recognize that this crisis is borderless, the response at the global level is lagging behind […] We all need each other so that there will be a global solution,” she said.Japan’s central bank governor Haruhiko Kuroda said during the discussion that globalization would be sustained and supply chains would be diversified as firms adjusted to the pandemic’s disruption, adding that resorting to protectionism was not the answer and that regional financial cooperation would provide a safety net to weather future economic shocks.Topics : Indonesia’s economy shrank by 5.32 percent in the second quarter and is widely expected to enter a recession in the third quarter, the first since the 1998 Asian financial crisis, as officials spur government spending to deal with the pandemic’s economic fallout.The government has spent about 36 percent of the Rp 695.2 trillion (US$47.19 billion) stimulus package to boost economic growth, but analysts say the stimulus has been ineffective because disbursement has remained slow, even six months into the outbreak.The government hopes the omnibus bill on job creation, which is expected to be passed into law later this year by the House of Representatives, will be able to cut red tape, improve the country’s competitiveness and attract foreign investment to support economic growth and create jobs, despite significant controversies surrounding the bill.Indonesia is formulating an additional omnibus bill to develop and strengthen the country’s financial industry, said the Finance Ministry’s Fiscal Policy Agency head, Febrio Kacaribu, as reported by Reuters. The bill is expected to shape the financial industry “to be more adaptive and responsive to vast developments in technology and business practices”, he added.last_img read more

first_img Players will be allowed out of the hotel or residence once a day to go to training. “It’s a circus,” one Bundesliga player told MARCA. Before and during their arrival, rooms and eating areas have been disinfected and maintained at a certain temperature. There will be limited numbers of hotel staff, as well as a reduced number of coaching staff for the team. Bundesliga players are having to spend 10 days in isolated camps before the restart of Germany’s top two divisions. Players from the 38 clubs in Bundesliga and 2. Bundesliga started these camps last weekend and are due to spend 10 days away from their families. Loading… Promoted ContentWho Earns More Than Ronaldo?World’s Most Delicious Foods12 Countries Whose Technological Progress Amazes7 Ways To Understand Your Girlfriend Better7 Of The Wealthiest Universities In The World7 Black Hole Facts That Will Change Your View Of The UniverseBirds Enjoy Living In A Gallery Space Created For Them11 Most Immersive Game To Play On Your Table Top6 Great Ancient Mysteries That Make China Worth VisitingEverything You Need To Know About Asteroid Armageddon14 Hilarious Comics Made By Women You Need To Follow Right NowYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime Read Also: La Liga plan to restart with Seville derby on Friday night “It’s a task for the players because we’re apart from our families for 10 days. “But we have to do it this way. “It’s a sacrifice in order for football to return, which is what we all want, apart from good health.” FacebookTwitterWhatsAppEmail分享 This measure has been put in place as part of the Bundesliga’s strict safety protocol in order to reduce the risk of infection. During these 10 days, players will either stay in hotels exclusively for their use or private team residences. They will stay in single rooms, practice social distancing, wear masks and avoid contact with anyone in the hotel.last_img read more

first_imgCOLBY, Kan. – The winner of Thomas County Speedway’s inaugural Nutrien IMCA Modified Madness will go home $3,000 richer.  A berth on the Fast Shafts All-Star Invitational ballot is at stake as well at the Saturday, June 1 special, which pays a minimum of $200 to start. IMCA Speedway Motors Weekly Racing National, Jet Racing Central Region and E3 Spark Plugs Kansas State points will be awarded.  Thomas County’s regular weekly program will be Friday, May 31. The Colby speedplant also hosts the $3,000 to win Holly Enterprises Stock Car Stampede on June 15. Modified Madness is presented by Strutt Insurance Services. More information is available by calling 785 443-1469. Grandstand admission is $15 for adults and free for kids 12 and under. Pit passes are $30. Entry fee for the Modifieds is $125. Completing the card are IMCA Sunoco Stock Cars, IMCA Sunoco Hobby Stocks, Karl Kustoms Northern SportMods and Mach-1 Sport Compacts vying for national, regional, state and track points.  Pit gates open at 3 p.m. and the grandstand opens at 4:30 p.m. on race day. Hot laps are at 6 p.m. and racing starts at 7 p.m.last_img read more