Government mulls introducing more measures to curb imports

first_imgThe government is planning to impose several measures to reduce imports in the short and medium term and strengthen the local manufacturing industry.The planned measures included imposing restrictions, raising tariffs, adding new trade remedies and implementing more technical barriers, Industry Minister Agus Gumiwang Kartasasmita said Tuesday. He proposed, for instance, to impose restrictions in the form of an import license requirement and minimum import price and quota application on 28 commodities.However, he stopped short of naming the commodities. “It is way too easy for foreign products to enter Indonesia,” Agus said in a virtual discussion held by news outlet Bisnis Indonesia.Read also: Indonesia books $1.27b trade surplus in June as economic activity resumesThe plan emerged as President Joko “Jokowi” Widodo’s administration gears up to reduce imports of raw materials by 35 percent to US$82 billion in 2022 by nudging local companies to produce import substitutes.It also came at a time when the COVID-19 pandemic brought down global trade, which was projected by the World Trade Organization (WTO) to decline by between 13 percent and 32 percent this year. In the first half of the year, Indonesia booked a trade surplus of $5.49 billion. While its exports declined by 5.49 percent year-on-year (yoy) to $76.41 billion, imports fell faster, namely by 14.29 percent yoy to $70.91 billion.Agus said he was also seeking to reduce “imports that flooded Indonesia” by implementing more trade remedies, arguing that Indonesia had imposed fewer safeguards, antidumping and countervailing duty measures than China, Thailand, the Philippines and India.China, which is Indonesia’s largest trading partner, imposes a total of 1,020 safeguard measures, while Indonesia imposes only a total of 102 safeguard measures, according to data compiled by the ministry.The European Union, Indonesia’s third-largest source of imports, imposes 4,004 technical barriers, equivalent to Indonesia’s national standard certificate, in total. Meanwhile, Indonesia imposes just 172 technical barriers.Indonesia has been hit by trade remedies involving nine trading partners that launched an investigation into alleged unfair practices by the country, resulting in potential foreign exchange losses of up to Rp 26.5 trillion (US$1.9 billion), Trade Ministry acting director general of foreign trade Srie Agustina said in June.Read also: Indonesia’s horticultural products more expensive than neighbors, says Japan’s NanyangTrade remedies are trade defense measures against imports to protect a country’s domestic industries from unfair practices, such as dumping and subsidies, or to cope with a sudden surge of foreign goods, according to the WTO.The three tools accepted by the WTO are antidumping, countervailing and safeguard measures.Agus also proposed a special arrangement on entry points at seaports in Eastern Indonesia for certain commodities.“This is to curb the flows of imported products that are already flooding Indonesia’s market,” he said.Statistics Indonesia (BPS) data show that Indonesia’s imports of consumer goods grew by 37.15 percent yoy in June due to a sharp increase of garlic shipments from China and frozen meat from Australia, among other items. Imports of raw materials plummeted by 13.27 percent, while imports of capital goods grew by 2.63 percent, driven by higher demand for laptops from China.Trade Ministry national export development director general Kasan Muhri said Tuesday the government also had made a plan to push Indonesia’s exports amid the pandemic.The plan included boosting products that are growing in shipment, such as processed food and beverages, healthcare goods, agriculture and fishery products as well as commodities expected to benefit from the pandemic, like pharmaceutical products.The government will focus on tapping into countries that have somewhat curbed the coronavirus pandemic, like Australia and Germany.Read also: Govt seeks to renegotiate trade, investment deal with JapanKasan also said the government was reviewing both tariff and nontariff barriers slapped by other countries on Indonesia’s products as his office started receiving reports that Canada and China were requiring certificates declaring food products to be free from the coronavirus.“This is among the non-tariff barriers that emerge and are related to the handling or situation of the COVID-19 pandemic,” said Kasan.With the pandemic having slowed economic activity in many countries, Indonesia might see a further decline in trade, as its main trading partners, such as Japan and Singapore, were expected to fall into recession, said Indonesian Chamber of Commerce and Industry (Kadin) chairman Rosan Roeslani in the same discussion.“Six of our 10 main trading partners are projected to fall into recession. This will hit our trade going forward,” said Rosan.Singapore, the fifth-largest export destination for Indonesia, entered recession in the April-June period as its economy contracted by 12.6 percent yoy.Topics :last_img read more

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Vikberg to replace Hansson as SPK chief executive

first_imgLars-Åke Vikberg has been named CEO of SPK, Sweden’s pension fund for the banking industry.He will replace Peter Hansson on 1 September, with the current chief executive set to retire after 25 years at the helm.Vikberg is currently an independent consultant, and was chief executive of KPA Pension between 2009 and 2015.Hansson joined SPK in 1993 and became CEO in 2005. Along with chief investment officer Stefan Ros, he oversaw a major overhaul of the fund’s investment strategy in 2014 following a change in discount rate rules in Sweden. The fund shifted from 70% in core fixed income to allocate significant portions of the portfolio to infrastructure, risk premia, and alternative fixed income strategies. Peter Hansson collects one of SPK’s many IPE awardsAlongside his career at SPK, Hansson also chaired the Swedish occupational pension fund association, Tjänstepensionsförbundet, between 2008 and 2017.He told IPE that, following a transition period, he would consider non-executive roles or board memberships. He is currently chair of the investment committee for a Swedish children’s cancer charity.SPK won the award for best Swedish pension fund for the sixth consecutive year at IPE’s annual conference in Prague in November last year.last_img read more

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First home buyers stare down the competition at auction

first_imgA well-researched family swooped on this house at 7 Eliza Lane, Wavell Heights.A YOUNG family renting locally in Chermside have snapped up their first home at an auction this month.The four-bedroom house at 7 Eliza Lane, Wavell Heights sold under the hammer for $847,000, setting a new street record.The same house broke the record when it sold in 2017 for $820,000 as a brand new home. An open plan kitchen and living area with views to the garden and back deck.More from newsFor under $10m you can buy a luxurious home with a two-lane bowling alley5 Apr 2017Military and railway history come together on bush block24 Apr 2019The two-level house was built in 2016 with three living areas, and an alfresco area with built in wine fridge, gas barbecue and hot and cold water. >>>FOLLOW THE COURIER-MAIL REAL ESTATE TEAM ON FACEBOOK<<< The street view of 7 Eliza Lane, Wavell Heights.Mr Treloar said current real estate conditions are good although housing stock levels are tight and the lead-up to a Federal election will traditionally put a pause on the market. The alfresco kitchen area with built in BBQ and wine fridge.David Treloar of Ray White Albion said the local couple were a little nervous to be bidding at auction but were well researched and held their own against a Melbourne phone bidder. While the auction crowd was moderate, Mr Treloar said three people had registered to discuss buying the property if it was passed in at auction.“They couldn’t meet the 30 day settlement and cash contract but that was important to the sellers because they were starting work on the Sunshine Coast,” Mr Treloar said.The property had been on the market for several months prior to the current campaign. SEE WHAT ELSE IS FOR SALE IN WAVELL HEIGHTSlast_img read more

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The cruise to hell.

first_img Share Sharing is caring! Share 76 Views   2 comments Sharecenter_img Jewel Of The Seas. photo credits: caribbean360MIAMI, United States, Wednesday May 23, 2012 – We’re not joking and we’re not going to say anything tacky about Italian cruise ships either, but this is still a scream.“The Barge to Hell,” a cruise billing itself as “The World’s Most Extreme Metal Cruise,” is set to rock out of Miami this December on Royal Caribbean International’s 2,744-passenger Majesty of the Seas.The four-night, heavy metal music festival will feature 40 metal bands playing live shows for over 2,000 “headbangers from around the world.”“Barge to Hell” has proudly announced 23 of the divinely dreadfully-named featured bands so far, including Napalm Death, Behemoth, Enslaved, and Sepultura.The organizers of this devil of a do say there will be no set meal times onboard, and no assigned seating in the ship’s theatre, where seats will be removed, “because at a Metal show, who actually wants assigned seating in front of the stage?”  Who indeed?Cruise activities will include meet and greet sessions with the artists, “Metal Karaoke” and a belly-flop contest, the latter hopefully in the pool. Passengers are hell-bent on rocking the boat.“Barge to Hell” sets sail Monday December 3, 2012, from Miami, will spend two days at sea and one at Nassau, Bahamas, before returning to Miami on December 7.It is expected that tickets for the metalmanic bash will soon be as hard to come by as sno-cones in hell.We can’t wait.Caribbean 360 News Tweet NewsRegional The cruise to hell. by: – May 23, 2012last_img read more

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Chuck Noll

first_imgAnother big time athlete passed away recently.  Chuck Noll who was born in 1932 attended the University of Dayton to play college football.  He is best known for his years with the Pittsburgh Steelers.  His tenure at Pittsburgh started in 1969 and lasted through 1991.  It included 4 Super Bowl Championships.His regular season head coaching record at Pittsburgh was 193-148-1.  His post-season record was 16-8 giving him a combined coaching record of 209-156-1.Chuck Noll’s coaching philosophy was dubbed the “steel curtain defense”.  During those Super Bowl Championship seasons the Steelers defense got most of the credit because of players like Joe Green and Jack Lambert.  The offense was no slouch, either, under the direction of Terry Bradshaw and the running of Franco Harris.  We all know Bradshaw as a commentator on NFL Today and Franco Harris is best remembered for his “immaculate reception”.  This was the unbelievable catch that turned a sure defeat into a last-second championship.last_img read more

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FCCF surpasses $6 million in giving

first_imgFRANKLIN COUNTY, Ind. — The Franklin County Community Foundation has reached a large milestone after their recent 2017 grant cycle.The Foundation surpassed $6.4 million in giving through their grant and scholarship programs.Their first grant provided materials to build 65 bluebird boxes.More recently, funding has been provided for the walking trail in the Brookville town park.The grant program has issued 485 grants benefiting libraries, schools, fire departments, and cemeteries just to name a few.Franklin County students have received 714 scholarships since 1998.last_img

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Greensburg Airport expansion update

first_imgCopywrite: Bob SimmermonGreensburg, In. — Two Airport Improvement Program grants from the Federal Aviation Administration, for a proposed expansion of the Greensburg Airport are moving through the system.The first grant for about $102,500 is intended for preliminary engineering, design, surveying and appraisal was approved following the approval of the Environmental Assessment. After federal and state reimbursement the services will cost the airport about $5,000.The second grant of about $450,000 has also been approved. This grant will fund the design, plans and specifications for the project.Surveys of property considered for the expansion are scheduled to begin in November of this year. Members of the airport board say all land acquisition will be in compliance with the Uniform Relocation Assistance and Real Property Acquisition for Federal and Federally-Assisted Program. Property owners should expect initial offers for land by March of 2019.The next meeting is scheduled for October 22 at 7 p.m. at Greensburg City Hall.last_img read more

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Juventus held talks for Atletico Madrid defender Savic – agent

first_imgThe agent of Atletico de Madrid central defender Stefan Savic has confirmed there have previously been contacts over a move with Italian champions Juventus.The 29-year-old has clocked up 151 first-team appearances for Atleti since a 2015 move from Fiorentina and has become a constant in the back four for Diego Simeone’s side.A report in La Razon carries quotes from TuttoJuve: “In the past there was some conversations with Juventus, but nothing concrete was ever reached.“For now it is only speculation and they are simply rumours, Stefan has a contract until 2023 and he is very happy at Atletico.”A report from Fichajes.net last month claimed the Montenegrin international is now one of a number of central defensive options being considered by Valencia, although his reported €25m asking price may prove to be problematic for any suitors.Read Also: Ex-Eagles star denies begging Hoffenheim for contractSavic has been playing at the top level of European football for the best part of a decade having joined Manchester City from Partizan Belgrade in 2011, before moving on to Italy two years later.His prominence for Atleti has grown this season after a series of defensive exits last summer including Lucas Hernandez and Diego Godin. Loading… Promoted Content8 Superfoods For Growing Hair Back And Stimulating Its Growth8 Ways Drones Are Going To Change Our LivesA Hit Song By Lil Nas X Is Beating A World Record As We Speak!Top Tastiest Foods From All Over The WorldThe Highest Paid Football Players In The WorldCouples Who Celebrated Their Union In A Unique, Unforgettable WayBirds Enjoy Living In A Gallery Space Created For Them6 Incredibly Strange Facts About HurricanesPortuguese Street Artist Creates Hyper-Realistic 3D GraffitiA Hurricane Can Be As Powerful As 10 Atomic BombsBest Car Manufacturers In The World5 Of The World’s Most Unique Theme Parkscenter_img FacebookTwitterWhatsAppEmail分享 last_img read more

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Wenger: Walcott can still shine

first_img Press Association Arsene Wenger hopes Arsenal can enjoy Theo Walcott’s “golden age”, if the forward agrees to stay at the Emirates Stadium. Asked if Walcott will play often enough amid the competition within the Arsenal squad, Wenger added: “It’s a good question but it is a question you will ask anywhere he will go because he will only be in a big club – and in a big club the competition is there.” Wenger believes Walcott wants to stay with the Gunners. “He loves the club and I think he wants to stay, personally,” the Arsenal boss added. “Once a player accepts to talk to you, that means his first wish is to stay. I don’t think his desire is to leave. “If then you cannot find an agreement, that has nothing to do with loyalty.” Walcott could start for Arsenal in Monday night’s Premier League clash with Swansea, when the Gunners will look to extend their 10-game unbeaten run, where the only dropped points were a goalless draw with champions Chelsea. Wenger believes Arsenal, without a Premier League title since 2003-04, would have pushed Chelsea close with their end-of-season rally, had the Blues not ground out some late wins. “In a normal championship, I think we would have come back in the race,” Wenger added. “The problem we had this season is Chelsea had no real blip. “Chelsea lost only two games and games like when they won at Hull, games like QPR, where they were not at their best, but could still manage a win. “This is the kind of wins you have when you smell you are close to win it.” Walcott has long been likened to Arsenal’s record goalscorer Thierry Henry and now Wenger believes the 26-year-old is ready to emulate the Frenchman by becoming a full-time striker. “He can be transformed,” Wenger said. “Being 26 to 32 as a striker is the best age as a striker and I wouldn’t like to miss that golden age. He is naturally gifted to play in this position. “I work with him in both situations, as a striker and as a wide player. But the quality of the runs is so fantastic with the pace he has. “When he was younger he was rushing his finishing but he is a good finisher now.” Walcott signed a new three-year deal in January 2013 which expires at the end of next season. Wenger insists the England forward will not leave this summer, even if a new deal is not agreed, and says Walcott is integral to the squad. “He is part of us,” Wenger said. “Of the whole squad he is the player who has played the most games for us. “Nobody has played more for us than Theo Walcott – I think he has played 202 games.” last_img read more

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Cricket News Dean Elgar Hits Maiden Ton Against India, South Africa Fight In Vizag Test

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Dean Elgar had endured a terrible run in the 2015 series against India which South Africa lost 0-3, falling regularly to Ravichandran Ashwin and Ravindra Jadeja. Having managed a top score of 48 on the previous tour, Elgar overcame his troubles and notched up his maiden century against India and his 12th overall. Elgar shared a 115-run stand with South Africa skipper Faf du Plessis, who smashed his 20th fifty. The left-hander was the only South African batsman who showed confidence on a pitch where Ashwin and Jadeja were getting plenty of purchase. Elgar had begun confidently on the previous day with two boundaries off Ishant Sharma and on the second day, the batsman continued to bat confidently. He used his feet confidently to Ashwin and he launched him straight down the ground for a couple of boundaries. The confidence shown by Elgar rubbed off on du Plessis who got off the mark with back-to-back boundaries off Ashwin .After notching up his fifty, Elgar was aggression and confidence personified. He blasted two sixes and a four in one over off Ravindra Jadeja but on 74, Elgar benefited from a life as he was dropped by Wriddhiman Saha off Jadeja. Elgar stayed disciplined and progressed smoothly through the eighties. He entered the 90s with a firm punch down the ground off Mohammed Shami as South Africa continued to make good progress.Also Read | Mayank Agarwal, Ravichandran Ashwin Highlight India’s Dominance In Vizag Test Vs South AfricaHowever, the 115-run stand was broken when Ravichandran Ashwin got rid of du Plessis for 55 with the skipper inside-edging a flatter ball onto his pad and giving short leg a sharp catch. On 94, Elgar seized the moment as he mowed a flighted delivery off Ashwin into the stands at deep midwicket to notch up his landmark. The jubilations and the joy when he reached his landmark signified how important the century was for Elgar, who had endured mixed fortunes in the sub-continent in the last couple of years.Also Read | Rohit Sharma, Mayank Agarwal Shatter Opening Records In Vizag Test Vs South AfricaSouth Africa will be aiming to avoid the follow-on after Mayank Agarwal’ fantastic double century and a blazing 176 from Rohit Sharma. The duo stitched a brilliant 317-run partnership for the opening wicket and it was the best stand in Tests between India and South Africa. The Proteas will be aiming to avoid a repeat of 2015 in which only a washout in the Bangalore test helped them avoid a 4-0 whitewash.last_img read more

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