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Economy and Finance

Economy and Finance

Entrepreneurs Open Their Voices After Sri Mulyani Rejects 0% New Car Tax

Jakarta - National automotive sector entrepreneurs must accept the fact that Finance Minister Sri Mulyani Indrawati rejects the exemption of new car tax. The plan is for the proposal to take effect in September-December 2020. The Association of Indonesian Automotive Industries (Gaikindo) ensures that it does not question Sri Mulyani's decision to reject the proposal for tax exemption, aka 0% for new cars. Chairman I Gaikindo, Jongkie Sugiarto assessed that the rejection of the proposal would have an impact on the performance of motor vehicle sales (KBM). "If the proposal is rejected due to government considerations, that's okay. "Only the increase in the sales figures for the KBM will also move a bit slowly." Said Jongkie when contacted by Media. Jakarta, Tuesday (20/10/2020). He expl...
Economy and Finance

The World Bank Has Reminded Indonesia Of The Bad Impact Of The Omnibus Law

JAKARTA - The World Bank has not only described the positive impact of the Omnibus Law in Indonesia. This report entitled in 'Long Road to Economic Recovery' which was released last July. In this report, this world institution apparently gave a view regarding the negative impact of the Omnibus Law on Cipta Kerja. "This bill also proposes reforms that could have devastating consequences. Especially in the current economic environment," wrote the World Bank in its report. For example, the proposals in this bill concerning relaxation of requirements for environmental protection. And this law would destroy a wealth of natural resources. Which are essential for the livelihoods of many people and could have a negative impact on investment. "However, the cause of the delay and uncertainty i...
Economy and Finance

If Europe Lockdown Again, Indonesia Hopes It Won’t Interfere With Their Exports

Jakarta - A number of European countries are planning to carry out regional closures or lockdowns to prevent the second wave of transmission of the coronavirus (Covid-19). Director General of Foreign Trade, Didi Sumedi, hopes that the closure of Europe will not disrupt exports. Didi said lockdowns usually focus on limiting the movement of people, the majority of whom use air transportation. "Hopefully it won't affect our exports, because most of them are exported to Europe via sea cargo," said Didi when contacted by Kontan.co.id, Thursday (24/9). Even so, business actors still express concerns. Deputy Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) for International Relations Shinta Widjaja Kamdani said "that the lockdown would create negative risks for Indonesian...
Economy and Finance

A Reason Why Apple Stock Dropped After They Launched The Iphone 12

Apple on Tuesday (13/10) officially released the iPhone 12 line, which many parties have been waiting for. Unfortunately, after its release, Apple's stock fell by 4%. MarketWatch lists shares of Apple Inc. (AAPL), -0.39%, down 2.65% to US $ 121.10 on Tuesday. The fall of Apple's shares halted the gains that had been achieved for two consecutive days. AAPL closed at US $ 16.88, far below the record high on September 2 which reached US $ 137.98. The performance of this Apple stock looks even worse when compared to a number of its competitors in the same sector on the same day. For example, Microsoft Corp. (MSFT), -0.54%, up 0.66% to US $ 222.86, Alphabet Inc. Cl A (GOOGL), -0.51%, up 0.16% to US $ 1,567.07, as well as International Business Machines Corp. (IBM), -0.83%, down 1.66% to US...
Economy and Finance

Philippines Announces Economic Recession Due to CoronaVirus Pandemic

Philippines is officially experiencing a recession due to the coronavirus pandemic. The statistical authority recorded an economic shrinkage of 16.5 percent in the second quarter of this year. The updates on the financial downturn was reported by the Philippine Statistics Authority on Thursday (6/8), considering the current condition the greatest decrease in (GDP) information since 1981.  The nation recorded a GDP shrinkage of 16.5 percent all through April to June quarter. Then, in the past quarter, GDP shrunk by 0.7 percent. Why Philippines Can Get Into A Recession The monetary constriction happened because of the tight lockdown framework set up to smother the spread of the Covid in the nation. Counting, the conclusion of various business exercises and the lockdown renewed intro...
Economy and Finance

Could Indonesian Economy Grow 5% Next Year?

After being battered in 2020, the Indonesian economy is believed to soar in 2021. The government it self is targeting economic growth in 2021 to reach 5%. Deputy Minister of Finance Suahasil Nazara explained why the government is so confident in these projections. One of the reasons is because of the contraction in the economy this year. "The improvement from seeing yesterday we hope that the conditions in the second quarter of 2020 are sufficiently negative. We hope that gradually there will be an improvement in consumption, improvement in investment and with the support of consumption and government activities, we hope that it will contribute to growth. economy 5%, "he said in a virtual press conference, Wednesday (30/9/2020). Suahasil continued, technically if economic growth is nega...
Economy and Finance

Global Survey: Job Loss Concern Threatens Economic Recovery

YouGov's most recent overview of 26 nations, including 27,681 respondents, shows shoppers around the globe are worried about positions and family unit financial plans. They likewise will in general be cautious in going through or putting away cash. The pandemic of Covid making the world monetarily shaky, representing a danger to the worldwide downturn hit economy if individuals want to spare instead of spend. Detailed by Bloomberg, Monday (7/13/2020), YouGov's most recent review in 26 nations including 27,681 respondents, shows that shoppers around the globe are worried about work and family spending plans. They additionally will in general be cautious in going through or putting away cash. This recommends indications of recuperation referred to by some policymakers as purposes behind p...
Economy and Finance

Omnibus Law Becomes A Scenario To Save Indonesia’s Economy From A Crisis

Special Staff of the Minister of Finance Yustinus Prastowo assessed that the Draft on Omnibus Law Job Creation is the policy most likely to be taken by the government to overcome the economic crisis in the midst of the coronavirus pandemic (Covid-19). According to him, the regulatory plan is not the best choice. However, the Job Creation Bill is the most rational option to respond to current conditions. "Omnibus Law In our opinion, is the most likely strategy at this time, not the ideal one. Maybe it is not the best policy, maybe not the second best, but it is the most likely to be taken right now to answer objective needs," he said in a teleconference session, Tuesday (14/7/2020). "That there are definite shortcomings. But whether this is all bad or not. So I believe there are good thin...
Economy and Finance

Beware, The Fed Predicts Tragedy in the US Economy.

Dark clouds are likely to remain clung to the economy of the United States (US). In fact, recovery is still far away and the economy could shift toward danger. This awful figure was repeated by Federal Reserve Chair Jerome Powell. At the yearly gathering of the National Association for Economics and Business, he said the expansion in crown contaminations was again the fundamental factor. "(The second flood of crown) fundamentally restricts financial movement, also the unfortunate impact on life and prosperity," said Powell, cited from CNN International Wednesday (7/10/2020). "Dealing with this danger as extension proceeds will require master clinical direction, including wearing covers and social separating measures." Powell also asked for more fiscal stimulus. This is important, he s...
Economy and Finance

World Bank: ‘Omnibus Law Cipta Kerja Potential To Harm The Indonesian Economy.’

The World Bank assesses that there are several clauses in the Job Creation Omnibus Law that have the potential to harm the Indonesian economy, which is inversely proportional to the purpose of the draft regulation which is to increase economic growth through investment. This was conveyed by the World Bank in Indonesia's economic report released this July under the title Indonesia Economic Prospects: The Long Road to Recovery. Three points highlighted by the World Bank are clauses on employment, licensing and the environment. "The revision of the Manpower Law in the Work Creation Omnibus Law Bill has the potential to reduce the protection provided to workers," wrote the World Bank in its report, on Wednesday (29/7/2020). According to the World Bank, the latest minimum wage schemes as well...