The government expects this year’s economic growth to reach 2.3 percent under the baseline scenario, or to contract by 0.4 percent under the worst-case scenario as consumer spending and investment dry up amid the pandemic. Indonesia’s economy grew by 2.97 percent in the first quarter, the slowest pace in 19 years.Senior World Bank economist for Indonesia Ralph van Doorn said earlier this month that Indonesia’s economy might shrink 3.5 percent this year should the PSBB imposed by several regional administrations last for four months, according to the institution’s worst-case projection.“[The zero percent growth in the baseline scenario] assumes two months of large-scale social restrictions and takes into account a severe global economic slowdown and a very big drop in commodity prices, all of which will have an effect on Indonesia’s economy,” Van Doorn told reporters in a livestreamed news conference.Read also: Indonesia’s economy may shrink 3.5% if PSBB last for 4 months: World Bank“We expect private consumption to slow down due to job losses and a decline in consumer confidence. We also expect a slowdown in investment growth because of weaker economic activity and lower commodity prices.”Domestic consumer spending expanded just 2.84 percent year-on-year (yoy) in the first quarter from 5.01 percent during the same period last year.In the case of the global economy, the World Bank now forecasts it will shrink by 5.2 percent, the worst in 80 years, as the coronavirus pandemic inflicts a “swift and massive shock” on the economy.“This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars and pose major global challenges,” said World Bank Group vice president for equitable growth, finance and institutions Ceyla Pazarbasioglu, as reported by Agence France-Presse.The depth of the crisis will drive 70 to 100 million people into extreme poverty – worse than the prior estimate of 60 million, she told reporters on Monday.Under the worst-case scenario, the global recession could mean a contraction of 8 percent, according to the report.The development lender projects a rebound for 2021 with the global economy growing by as much as 4.2 percent.“The pandemic will likely further slow potential growth in the [East Asia and Pacific] region by weakening investment and the supply chains that have been an important conduit for productivity gains over the last decade,” the report read.Read also: Indonesia’s COVID-19 budget swells but still not enough, observers say“The regional outlook will significantly deteriorate if global trade tensions re-escalate.”Advanced economies, including the United States and the eurozone, are projected to contract by 7 percent this year, while emerging market and developing economies will shrink by 2.5 percent.Meanwhile, the economy in China, Indonesia’s largest trading partner and the country where the outbreak began, is expected to grow by 1 percent this year.Topics : Indonesia’s gross domestic product (GDP) will grow at zero percent this year as the global economy is expected to see its deepest downturn since the Second World War, the World Bank has forecast.Southeast Asia’s biggest economy will see its weakest economic performance since the 1998 Asian financial crisis as the COVID-19 crisis strikes “a devastating blow to an already-fragile” global economy, the Washington, DC-based development bank said in its latest Global Economic Prospect report.“Necessary but economically costly lockdowns have become widespread and resulted in a sharp contraction of economic activity, while an abrupt tightening of global financial conditions has led to sizable capital outflows,” it said in the report. “While not contractions, Indonesia’s growth rate would nevertheless be 5.1 percentage points lower than January forecasts,” the World Bank said. “Regional commodity exporters [including Indonesia] were also hit by a steep decline in commodity prices.”Read also: Pandemic drives broadest economic collapse in 150 years: World BankThe country’s economy is projected to rebound sharply and record 4.8 percent growth in 2021, although still lower than the World Bank’s earlier projection in January.The coronavirus outbreak has disrupted economic activity throughout the archipelago as the government has called on citizens to implement physical-distancing measures to contain the spread of the coronavirus, forcing offices, factories, shops and schools to shut down. Four provinces and 11 regencies/cities have imposed large scale social restrictions (PSBB), which have forced non-essential businesses to close.
Topics : ‘Special club’ But the Boston-based businessman had been unpopular among club fans for his rare appearances in Italy and his handling of player transfers and the departures of club legends Francesco Totti and Daniele De Rossi who were both pushed out of the club.Roma have had recurring financial difficulties and been sanctioned by European football’s governing body UEFA for breaches of financial fair play.As a result the club are very active in the transfer market, regularly selling off their best players, to the chagrin of fans.Pallotta’s great project had been the construction of a new stadium in the south of the capital which was delayed because of legal and bureaucratic issues, and remains at the planning stage.The high-point of Pallotta’s reign was the club’s sensational Champions League 3-0 second leg comeback in 2018 to beat Barcelona, before losing to Liverpool in the semi-finals.Pallotta said: “I would like to wish Dan, Ryan and everyone at AS Roma – the players, the staff and the fans – only good luck for the future. “Like every Roma fan in the world, I truly hope The Friedkin Group can build on what we have done over the last eight years, transforming Roma into a truly international club, and take AS Roma to the next level. “This is an incredibly special football club and I leave with many unforgettable memories.”The club won their third Serie A title in 2001, but have not lifted any silverware since the Italian Cup in 2008.This season they finished fifth, missing out on elite European competition for the second year in a row.Friedkin told Roma fans: “We will stand shoulder to shoulder with you as we develop this club and challenge for trophies in the future.”We can’t wait to get to work and for our new season to start.” “As one fan wrote recently, ‘Take our iconic club and make it one of the greatest names in world football’.”We intend to do just that. Our commitment to Roma is total. We will be very present in Rome, a city that holds a special place in our hearts, as we embark on this exciting journey.”Our vision for the club and the team is to favor a sustainable and long-term investment approach rather than quick fixes.”We recognize that we have been entrusted with a team. which represents a vital part of the soul of Rome, and this is a responsibility that we will always take very seriously and humbly.” Houston-based Friedkin is the chief executive of a consortium notably involved in the automotive and hotel and entertainment industry.The Friedkin Group have through Romulus and Remus Investments LLC, purchased the 86.6 percent majority stake in Roma, and will launch a mandatory tender offer for the remaining 13.4 percent of share capital, the club said in a statement.Friedkin takes over from Pallotta as club chairman, in a new executive committee which includes his son Ryan, with Guido Fienga remaining on as CEO.Pallotta bought two-thirds of the club’s shares in 2012, but had 100 percent ownership since 2014. US billionaire Dan Friedkin on Monday promised to turn Roma into “one of the greatest names in world football” after completing his 591 million euros ($700 million) purchase of the Italian club.Friedkin, 54, takes over the Serie A side after nine-years under the ownership of fellow American James Pallotta, 62.”We are delighted to join the AS Roma family,” said Friedkin.
A Hong Kong news website said on Thursday that authorities had rejected a visa for an Irish journalist working there without providing a reason, stoking concerns about media freedoms under Beijing’s new national security law for the city.Aaron McNicholas, who covered the city’s sometimes-violent anti-government protests last year for Hong Kong Free Press (HKFP), waited almost six months before being told his visa had been denied, the outlet said.”It seems we have been targeted under the climate of the new security law and because of our impartial and fact-based coverage,” HKFP editor-in-chief Tom Grundy said in a statement. The news website would press the government to offer reasons for the denial and would consider an appeal and legal challenge, he added.The Hong Kong government and immigration department did not immediately respond to a request for comment.Media groups said the move reflected an acceleration in the decline of press freedoms under the security law which punishes what Beijing defines as subversion, secession, terrorism and collusion with foreign forces with up to life in jail.”Denial of a work visa to a thriving local news operation bashes the most basic promise of press freedom given repeatedly by the Hong Kong government,” said Steven Butler, Asia Program Coordinator of the Committee to Protect Journalists. “It also severely undermines Hong Kong’s status as an international city and financial center, which cannot flourish unless journalists are free to do their work.”Journalists in the former British colony have told Reuters they fear the legislation could be used to silence media and crack down on freedom of expression, concerns the Hong Kong government has rejected.The semi-autonomous city is guaranteed freedom of speech and the press under Article 27 of the Basic Law, the mini-constitution agreed by China when it took back control of the global financial hub in 1997.The news comes more than a month after The New York Times said it would shift part of its Hong Kong office to Seoul as it faced challenges securing work permits.The Hong Kong government said at the time the city remained a regional media hub. Topics :
BI has trimmed the policy rate four times this year by 1 percent, cut the reserve requirement ratio, eased lending rules and purchased sovereign debt papers in the primary market to support the economy amid the coronavirus pandemic.The central bank will extend the cut of the reserve requirement by 50 bps until June next year for banks that provide loans to micro, small and medium businesses and export-import oriented businesses, among others, after the policy was previously set to end by the end of this year, Perry said.The central bank has bought Rp 99 trillion (US$6.63 billion) worth of government bonds through private placement and has also bought Rp 44.38 trillion in government bonds through the primary market as part of the burden sharing scheme with the government. It has also bought Rp 48.03 trillion through the primary market, private placement and greenshoe options to help fund the fiscal deficit.The government is seeking the central bank’s help to fund the fiscal deficit and bear the debt burden through a $40 billion burden sharing scheme, which will see the central bank buying at least $28 billion.The government has allocated Rp 695.2 trillion for stimulus to rescue an economy reeling from the coronavirus pandemic, widening the budget deficit to 6.34 percent of GDP to account for larger government spending and lower state revenue due slowing economic activity.Indonesia’s economy is widely expected to enter a recession in the third quarter this year after declining 5.32 percent in the second quarter, with the government expecting the economy to shrink 1.1 percent at worst this year or grow by only 0.2 percent at best.The central bank decided not to comment regarding this year’s GDP estimate but said the economy may grow by 4.8 to 5.8 percent next year.The risk of the deeper economic contraction coupled with the prospect of the prolonged spread of the virus in Indonesia, has driven the market to be more volatile than before and may jeopardize the rupiah’s stability, University of Indonesia economist Teuku Riefky said.“BI’s decision to maintain its macroprudential policy and expand the unconventional monetary policy measures will prompt liquidity and thus promote economic growth,” he wrote in a note, adding that the current rate remained attractive to maintain capital inflows and ensure the rupiah’s stability.The new BI bill proposal is ill-designed and ill-advised, according to CIMB Niaga chief economist Adrian Panggabean, adding that the country had four policy instruments to promote economic growth and jobs, namely monetary policy, fiscal policy, income policy, as well as trade and industry policy.“So far, fiscal policy has been ineffective and the latter two have been conspicuously mute,” he told The Jakarta Post, calling for the government to expedite spending to support the economy. Topics : Bank Indonesia (BI) has decided to leave its interest rate unchanged to safeguard financial market stability as the current coronavirus-induced economic downturn and concerns over the central bank’s independence weigh on the currency.The benchmark seven-day reverse repo rate will remain at 4 percent, while deposit facility and lending facility rates were also kept at 3.25 and 4.75 percent, the central bank said following its two-day policy meeting on Thursday,“This decision took into account the need to maintain the stability of the rupiah exchange rate amid the low inflation expectation,” BI Governor Perry Warjiyo told reporters in a press briefing on Thursday. “BI will undertake quantitative measures through liquidity provisions, including BI’s support of the government’s budget absorption to boost economic recovery from the COVID-19 pandemic.”A proposal by the House of Representatives to revise BI laws and a reintroduction of large-scale social restrictions (PSBB) in Jakarta to curb the virus outbreak have knocked around 1.6 percent off the rupiah exchange rate against the greenback since the end of July. The rupiah appreciated 0.02 percent to 14,840 per US dollar shortly after the central bank’s announcement. “BI will continue to strengthen the rupiah exchange rate stabilization policy in line with its fundamentals and smooth functioning of the market through monetary operations and liquidity availability,” Perry went on to say.The proposal by the House includes significant changes to the 1999 BI Law, including giving the central bank a mandate to support economic growth and job creation in addition to maintaining the rupiah’s stability. The bill also proposes the creation of a monetary council, led by the finance minister, to coordinate the government’s and the central bank’s policies, sparking concerns over BI’s independence.Perry reiterated the words of President Joko “Jokowi” Widodo and Finance Minister Sri Mulyani Indrawati that the central bank would “remain credible, effective and independent”. “The President and finance minister have made clear that Bank Indonesia will remain independent,” he said.
Chelsea have picked up successive league wins (Picture: Getty)The Daily Mail claim Sarri is working to get his players back on side and has made major strides with his star men by including them in discussions on tactics.AdvertisementAdvertisementADVERTISEMENTChelsea’s squad now have a greater say and there has been a clear improvement in performances in the last month.Sarri had said he would not be swayed from his tailored style, but has now backed away from that position. Chelsea appear to have turned a corner in recent games (Picture: Getty)Maurizio Sarri is giving his Chelsea squad a say on tactics after proving he is able to compromise on ‘Sarriball’, reports say.Chelsea players were becoming increasingly concerned their manager had no Plan B, and would dig his team deeper into a hole due to his resistance to change.Back-to-back wins in local derbies over Arsenal and Fulham has eased the pressure on Sarri after a dismal start to the year. Advertisement Advertisement Chelsea players are now getting a say in how they play (Picture: Getty)The U-turn has improved Sarri’s standing with the players and the board, despite the club chiefs continuing to make plans should they decide to axe the Italian.After the win over Fulham at Craven Cottage, Chelsea defender Antonio Rudiger hinted Sarri is softening his approach.‘I think everyone has adapted to new things – also the coach,’ he said.‘You saw the way we played against Tottenham and Manchester City. It was different to the way we played in the first three months.‘Everyone needs to adapt, everyone needs to learn and it is good that it has happened in this moment.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 Comment Sarri has strengthen his position as manager after a difficult few months (Picture: Getty)‘In life, you need to adapt to things. This league is different to Italy, you have to adjust a bit.‘The coach learned from that game against Manchester City (where Chelsea lost 6-0). There we went high, we went to press, we wanted to win the ball and everyone knows what happened.’Chelsea are reluctant to pull the trigger on sacking Sarri during the season and would prefer to wait until the end of the campaign to make a decision.The Blues are battling to claim a Champions League spot this season and could leapfrog Manchester United into fourth place if they win their game in hand over the Red Devils.More: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira moves Coral BarryTuesday 5 Mar 2019 10:09 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link844Shares Maurizio Sarri giving Chelsea players greater say in tactics
Advertisement Comment Cardiff City were relegated from the Premier League following a 3-2 defeat against Crystal Palace (Picture: Reuters)Neil Warnock insisted Cardiff’s relegation from the Premier League relegation pales into insignificance as the club continues to mourn for Emiliano Sala.The Welsh club’s demotion to the Championship was confirmed on Saturday after Crystal Palace secured a 3-2 victory and preserved the top flight status of their own arch rivals Brighton.Cardiff broke their club transfer record to sign Sala from Nantes in January but the 28-year-old tragically lost his life in a helicopter crash before he even had a chance to make his debut for the Bluebirds.‘We worked really hard for two months to get the lad signed, that puts it into perspective – yes, we’ve got relegated, but life is far more important,’ said Warnock.AdvertisementAdvertisementADVERTISEMENTMore: 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‘You can’t plan for something like that and I didn’t think it would affect the players in the way it did.‘I did think he would score 10 or 15 goals, he was the type we needed. It wasn’t to be.’Warnock admitted he was disappointed not to take the fight for survival until the final weekend with Brighton facing Champions League chasing Arsenal on Sunday, but the 70-year-old pinpointed last month’s controversial home defeat against Chelsea as the result that broke his side’s resolve. Neil Warnock insists Emiliano Sala tragedy puts Cardiff relegation in perspective Metro Sport ReporterSaturday 4 May 2019 8:29 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link Cardiff broke their transfer record to sign Emiliano Sala from Nantes in January before his tragic death (Picture: Getty)‘They (the fans) knew when I took over the club was in a mess, it’s been reborn – everybody is singing from the same hymn sheet.‘They know we’ve given it our best. We had some great chances in the second half.‘The Chelsea result killed us, that night in the dressing room. It was really low that night, they have kept fighting so I have no complaints.‘The problems we have had to put up with throughout the season, I have nothing but praise for everybody. It makes such a difference when you hear the crowd.’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 Arsenal Advertisement
Advertisement Comment Crystal Palace will hold out for £80m for Zaha (Picture: Getty)An £80m asking price is likely to deter both Arsenal and Tottenham, with Emery having just £45m to spend this summer.Emery is considering offloading a number of players, including Mesut Ozil, in a bid to raise further funds.Zaha is under contract with the Eagles until 2023 and scored ten goals in 34 Premier League appearanceslast season, providing another ten assists in those games.MORE: Arsenal in competition with Barcelona over the signature of AS Nancy teenager Bilel Hassaini Crystal Palace to demand £80m for Arsenal transfer target Wilfried Zaha Coral BarryTuesday 25 Jun 2019 1:23 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link589Shares Arsenal and Spurs are interested in Zaha (Picture: Getty)Crystal Palace will demand £80million for Wilfried Zaha, according to reports.Zaha has made it clear that he wants to leave Palace, but Aaron Wan-Bissaka’s impending exit is set to complicate matters for the attacker.Palace do not want to sell Wan-Bissaka and Zaha in the same window and Manchester United are closing in on a £60m deal for the right-back.The Evening Standard claim Zaha may be forced to stay at the club amid interest from Arsenal and Tottenham.ADVERTISEMENT Advertisement Zaha was Palace’s stand-out creative force last season (Picture: Getty)Unai Emery has requested further cash from the Arsenal board to fund a big-money move for Zaha.Zaha is currently at the Africa Cup of Nations with the Ivory Coast and will delay a decision on his future until after the tournament.AdvertisementAdvertisementBut the 26-year-old could now return to a club reluctant to grant his transfer request.
Manchester United and Arsenal target Thomas Meunier admits he’s ‘frustrated’ at Paris Saint-Germain Meunier made just his second start of the season on Tuesday (Picture: Getty)Ole Gunnar Solskjaer is keen to strengthen at left-back and though Meunier prefers to play on the right, he is adept on either side.AdvertisementAdvertisementAnd the Belgian’s hinted he would be open to leaving PSG by admitting he’s frustrated at a lack of opportunities.‘My philosophy and mentality have never changed,’ said Meunier.‘I have been saying since my first steps here at PSG that I would be devoted to the club until the end of my contract or more.‘He [Thomas Tuchel] will be able to count on me.‘Sometimes it is a bit frustrating and the happiness in football is in playing.‘But choices have been made and the coach will take his own decisions’MORE: Manchester United open contract talks with Angel Gomes amid Barcelona interest Thomas Meunier has hinted he’ll leave PSG (Picture: Getty)Paris Saint-Germain star Thomas Meunier has put Manchester United and Arsenal on red alert after admitting he’s ‘frustrated’ at his lack of game time at the club.The Belgian scored PSG’s third in their 3-0 win against Real Madrid on Tuesday but it was just his second start of the season.The full-back has lost his place under Thomas Tuchel with the German preferring youngster Colin Dagba instead.Meunier was heavily linked with a move to the Emirates last summer and he’s confirmed on a number of occasions that he is a United fan.ADVERTISEMENT Metro Sport ReporterFriday 20 Sep 2019 8:34 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link Advertisement Comment Advertisement
Advertisement Metro Sport ReporterMonday 6 Jan 2020 5:06 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link38Shares When is the FA Cup fourth round draw? Time, TV channel, stream and ball numbers Advertisement Comment A youthful Liverpool side made it into the fourth round of the FA Cup (Picture: Getty Images)The draw for the fourth round of the FA Cup is made on Monday night ahead of the Arsenal vs Leeds tie, with all remaining teams learning their fate.There have been some shocks so far but most of the biggest teams remain, with the likes of Manchester City, Liverpool and Chelsea all winning, while Man Utd and Spurs picked up draws to remain in the hat.Premier League sides Everton, Crystal Palace, Brighton and Aston Villa are the ones to have fallen at the first hurdle and will have to comfort themselves with the ability to focus on league duties.AdvertisementAdvertisementWhen is the FA Cup fourth round draw?The fourth round draw takes place on Monday 6 January at 7.35pm.ADVERTISEMENTWhat TV channel is the FA Cup fourth round draw being shown on and is there a live stream?BBC One will be showing the draw ahead of the third round clash between Arsenal and Leeds United at the Emirates.You can stream the draw on the BBC website or on iPlayer if you have a TV licence.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 CityWhen are the fourth round matches?Fourth round contests begin on Friday 24 January.FA Cup fourth round draw ball numbers1 LEICESTER CITY2 QUEENS PARK RANGERS3 FULHAM4 CHELSEA5 WOLVERHAMPTON WANDERERS or MANCHESTER UNITED6 WEST BROMWICH ALBION7 ROCHDALE or NEWCASTLE UNITED8 CARDIFF CITY or CARLISLE UNITED9 OXFORD UNITED10 SHEFFIELD UNITED11 SOUTHAMPTON12 LIVERPOOL13 BRISTOL CITY or SHREWSBURY TOWN14 AFC BOURNEMOUTH15 SHEFFIELD WEDNESDAY16 BRISTOL ROVERS or COVENTRY CITY17 BARNSLEY18 MANCHESTER CITY19 MIDDLESBROUGH or TOTTENHAM HOTSPUR20 READING or BLACKPOOL21 WATFORD or TRANMERE ROVERS22 NORWICH CITY23 MILLWALL24 DERBY COUNTY25 ROTHERHAM UNITED or HULL CITY26 BRENTFORD27 PORTSMOUTH28 ARSENAL or LEEDS UNITED29 WEST HAM UNITED30 NORTHAMPTON TOWN31 BURNLEY32 BIRMINGHAM CITYMORE: Liverpool have tabled bid to sign Ugurcan Cakir, confirms Trabzonspor presidentMORE: Pedro Chirivella reveals what Jurgen Klopp told Liverpool youngsters before FA Cup win over Everton