Indonesia moves closer to rate cut on virus

first_img“We expect a significant impact on Indonesia’s trade, tourism foreign exchange earnings and GDP growth from the global outbreak of the coronavirus,” said Satria Sambijantoro, an economist at PT Bahama Sekuritas in Jakarta. That’s likely to result in “front-loaded economic stimulus” from Bank Indonesia and the finance ministry, he said.Asia is stepping up efforts to blunt the impact of the coronavirus crisis with the Philippines, Thailand and Sri Lanka cutting interest rates in recent weeks, and others like Singapore planning significant fiscal stimulus.Coronavirus falloutThe government had been forecasting a pickup in growth this year to 5.3 percent but that’s now under threat because of the virus outbreak. Any action by the central bank will come on top of a fiscal boost the government is planning by accelerating spending, including on about US$9.2 billion earmarked for villages and schools. Government revenue is under pressure though, dropping 4.6 percent in January from a year ago as corporate tax collection plunged 29 percent, Finance Minister Sri Mulyani Indrawati said Wednesday.The virus may also have an impact on inflation, which has so far remained subdued, coming in at 2.7 percent in January. Garlic prices surged almost 70 percent in Jakarta in just one week after shipments from China were disrupted. China accounts for about 80 percent of the world’s garlic supply, and Indonesia sources 90 percent of the root vegetable from there.Trade worriesThe outlook for trade has deteriorated with a slump in exports in January set to continue. Indonesia is the world’s biggest exporter of coal and palm oil, and with China a major customer, the Trade Ministry has warned of a deeper hit to exports in the months ahead.A drop in exports would put strain on the current account deficit, a key concern for the central bank. The shortfall widened to 2.8 percent of gross domestic product in the fourth quarter from 2.6 percent in the previous three months.Stable currencyWhile the rupiah has weakened in recent weeks, it’s still up more than 1 percent against the dollar since the start of the year, making it the best-performer in Asia.“The stability of the rupiah, despite external risks, should drive the central bank to prioritize economic growth, which is facing headwinds on multiple fronts,” said Mohamed Faiz Nagutha, an economist with Bank of America Securities in Singapore.“The central bank had also previously communicated that it stands ready to utilize its policy easing space at the ‘right timing’. Given the growing external risks and subdued domestic outlook, we believe the timing is right once again to commence monetary easing,” he said. Topics :center_img Indonesia’s central bank may be ready to cut interest rates again after a three-month pause as policy makers look to head off the impact of the coronavirus on Southeast Asia’s biggest economy.Bank Indonesia will probably lower its benchmark rate by 25 basis points to 4.75 percent Thursday, according to 19 of the 31 economists surveyed by Bloomberg. The rest see no change. The central bank, which reduced rates four times last year, has already flagged room for further easing.While Indonesia — the world’s fourth most-populous nation — is yet to record a single case of the deadly virus, officials are increasingly worried about the fallout from the epidemic. A shutdown of factories in China to contain the outbreak has disrupted supply chains, while travel curbs have hurt tourism across the region.last_img read more

Syracuse’s seniors instrumental in program’s 1st-ever NCAA tournament win

first_img Comments Published on November 30, 2018 at 8:21 pm Contact Eric: [email protected] STATE COLLEGE, Pa. — As “The Twist” by Chubby Checker blasted through the Rec Hall at Penn State between Friday’s second and third set, Syracuse players couldn’t help but dance along and smile. SU head coach Leonid Yelin didn’t seem to have anything to tell them. At that point, the Orange were already up two sets in the match, on their way to their first ever NCAA tournament win in their first ever attempt, powering past Yale (19-5, 13-1 Ivy League) in straight sets, 3-0. It was clear the moment on Friday night was not too big for the Orange (19-8, 4-4 Atlantic Coast). And SU’s seniors were a big reason why.Seniors Santita Ebangwese and Amber Witherspoon each had a team-leading seven kills after the second set. Ebangwese finished with 10 kills and five blocks while Witherspoon came away with nine and six, respectively. Senior Jalissa Trotter accounted for assists on 36 of the team’s 41 kills.“They brought experience,” Yelin said. “That’s what seniors have to do. You don’t have to explain to them it’s the last opportunity. Just have fun and just play.”The Orange got rolling early in the first set on a 7-2 run to take a 10-5 lead. Yale would then never trail by more than four but was never able to tie it. A return error on a Polina Shemanova hit ended the set 25-22 in favor of Syracuse.AdvertisementThis is placeholder textThe second set is where Ebangwese believed the Orange really started clicking. When Yale went up 18-14, the Orange responded with an Ebangwese slide hit after a long rally. Then, one more. The next play resulted in yet another Ebangwese kill. Syracuse went on an 8-0 run to take a 22-14 lead. The Orange won the set, 25-21.“I could hear [Ebangwese] with blocking through the net and she knew the scouting report really well,” Yale junior Frances Arnautou said. “She made some great plays also defensively blocking.”Santita Ebangwese (left) and Christina Oyawale go up for a block against Yale. Courtesy of Syracuse Athletics | Matthew SniegowskiIn the third set, not much changed. Syracuse never trailed and won the set handily by a score of 25-16. Yale head coach Erin Appleman believed “a mismatch” upfront with Syracuse’s seniors was part of the Bulldogs’ undoing. “I think [Ebangwese] is one of the hardest workers I’ve seen,” Appleman said. “All the film I’ve watched on her, she even defensively gets after it… And then [Witherspoon] is just so enormous and has such a high reach. There were definitely some mis-connections between them, and she was still able to come down and hit the ball and get a kill.”The mismatch showed in the boxscore. Syracuse out-blocked Yale, 12-3. Going into the match, the Orange ranked second in the nation in blocks per set with 3.08, only behind No. 1 Stanford.“We talk to each other on the block,” Ebangwese said. “We work on timing. We work on positioning. Maybe one person makes a mistake, but the other person corrects it so we can stay on top of our blocking game.”The Orange will remain in State College, Pennsylvania, to next face the winner of Howard and Penn State on Saturday night at 7 p.m. Penn State is the second best seed in SU’s region and the No. 8 overall seed in the tournament.Yelin did not believe the 3-0 fashion in which SU won will have an impact on Saturday’s game and said that his attitude is “one game at a time.”Despite the anxious anticipation and excitement some Syracuse players have felt all week leading up to the program’s first ever tournament game, the feeling ultimately disappeared once on the court.“It’s another game,” Ebangwese said of how she felt before the game started. “We have to get that dub. We have to do what we’re supposed to do, what we talked about for game plan. I didn’t think of it as, ‘Oh my god it’s our first NCAA debut game.’ No. I think of it as another game, another opponent that we can take. So we have to give it all we got.”center_img Facebook Twitter Google+last_img read more

Bayern Munich smash Dortmund 5-0 in Der Klassiker

first_img Source: BBC German champions Bayern Munich thrashed title rivals Borussia Dortmund to move back to the top of the Bundesliga with six games remaining.Dortmund, who were two points clear heading into this match, were shell-shocked following a ruthless first-half display from the hosts.Goals from Robert Lewandowski, Mats Hummels, Serge Gnabry and Javi Martinez gave Bayern a 4-0 lead at half-time.Bayern are chasing a seventh consecutive Bundesliga title.In a showdown described as the “biggest in Europe this season”,Dortmund’s title hopes suffered a blow and extended their losing streak at the Allianz Arena to five games.At the start of December, the title race looked to be over with Dortmund nine points clear at the top, but Bayern took advantage of the stuttering form of their rivals to claw back the deficit.And as if intended as a timely reminder of Bayern’s pedigree, Lewandowski became the second-fastest player to score 200 goals in the German top flight, doing so in 284 games.His Bayern side are aiming to win a 29th league title and could add the German Cup after reaching the semi-finals with a victory over second-division side Heidenheim.Over in a flashDortmund’s free-flowing football had propelled them to the top of the table with seven games remaining but they were taught a lesson by a Bayern side hungry to retain their title.There weren’t any initial signs of a collapse – midfielder Mahmoud Dahoud hit the outside of the post within eight minutes as Dortmund looked bright.But ex-Dortmund centre-back Hummels proved more clinical when his towering header thumped into the back of the net just minutes later.After the opener, Dortmund struggled to keep pace with their title rivals and eventually the pressure took its toll.Dan-Axel Zagadou’s clumsy pass fell straight to Lewandowski and the former Dortmund striker lifted the ball over the keeper and slotted it into an open net to double Bayern’s lead.Bayern’s pressure was relentless – Dortmund keeper Roman Burki was forced to tip Thomas Muller’s header over the bar before making two smart low saves to deny Hummels and Lewandowski.But Burki’s heroics were short-lived as Javi Martinez pounced on a rebound to fire Bayern into a 3-0 lead within 40 minutes.Gnabry rubbed further salt into the wounds two minutes later with a pin-point header from Muller’s cross and Lewandowski picked up his second of the night with a tap-in a minute before full-time.Dortmund’s humiliation was confirmed at half-time but they remain only a point behind in a thrilling title race.Bayern’s slip-up last week against Freiburg suggests there could still be more twists to come.Lewandowski breaks more records – best of the statsFor the first time since 2001-02, there is only a one-point margin between the first two teams in the Bundesliga after 28 games – back then, Dortmund trailed one point behind Bayer Leverkusen, but became champions in the end.Bayern have won their last eight home games in the Bundesliga, scoring 29 goals, while conceding only two.Bayern have also scored 19 goals in their last four home matches against Dortmund and only conceded twice.Centre-back Hummels’ four shots on target in the first half was more than the entire Dortmund team combined.For the first time, Martinez has scored four competitive goals in one season for Bayern.Lewandowski has now scored 15 goals in this fixture (14 for Bayern, one for Dortmund) – surpassing Gerd Muller’s previous record of 14.Lewandowski also became the first player in Bundesliga history to score in five consecutive games against a former club.last_img read more