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Tag: corona pandemic

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...
World

Global Economic Growth Predicted To Minus 5 Percent, Worst In 80 Years

Chief Economist of PT Bank CIMB Niaga Tbk, Adrian Panggabean, predicted that the global economy will contract by minus 5 percent in 2020. Adrian even said that this contraction was the worst in the last 80 years. In 2021, the global economy will recover (rebound) partially in the range of 3 percent-4 percent. "The projection range of global economic growth is in the range of -5 percent to -4 percent in 2020, the worst in 80 years," said Adrian in his report, Wednesday (14/10/2020). Adrian said that the global economic recovery in 2021 is still marked by high uncertainty. Next year, it seems that there are still sharp business fluctuations. Recovery can be patchy across countries. Especially at this time, the Covid-19 virus still infects more than 140 countries in the world. Hopes for a s...
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

IMF Was Worried Because the World Economy Is Still Horrible

IMF Chief Economist Gita Gopinath voiced pessimism about the current global economic conditions. His side admitted that he was looking for signs of recovery of the global economy, but it was difficult to find them. "Over the course of the year, it has become increasingly difficult to find these bright spots. There is potential for recovery, and we are still looking for it all over the world, but I have to admit it has become increasingly difficult to find them," Gopinath said as quoted by CNBC. The existence of trade tension that occurs is said to be one of the risks threatening the economy. Global growth has been restrained and is considered fragile . "The developments we have seen lately give us great concern about what will happen to future growth. To note, the trade war between th...
Economy and Finance

Reasons for the US Economy Recovering Fast from the Corona Pandemic

Economy in some states of the United States began to recover after a pandemic struck coronavirus during the last six months. Some of these recoveries include the real estate sector starting to develop rapidly in Maine, the unemployment rate dropping below 5 percent in Nebraska and the working hours of MSME employees that have started to increase in Rhode Island. Back to Normal Index Moody's Analytics Shows the state's economy has returned to working almost 88 percent of its pre-pandemic March conditions.  This rate is the most noteworthy throughout the previous half year. Despite the fact that not yet completely recouped, these states' bounce back are additionally among the most grounded in the United States. So for what reason would they say they are recuperating such a great amount...
Economy and Finance

Not the First Time the World Economy is Destroy by the Pandemic

Pandemics that occur in the world have indeed influenced the global economic system and suppressed the economies of all countries. This is because the pandemic forces humans to limit their interactions with others in order to suppress the spread of the virus. Long before the current COVID-19 pandemic, the world economy had also been battered by the Spanish Flu pandemic around 1918. Citing a report compiled by Ally Mintzer on econreview.berkeley.edu, the result of the Spanish Flu at that time also forced world countries to impose restrictions that influencing the consumption pattern of society and the business world so that the wheels of the economy move slowly or even temporarily stop. The incident in 1918 was the worst in the history of the United States (US) because it claimed hundre...
Economy and Finance

No lockdown, Japanese Economy Continues Recession

Japan's economy deepened. The economy contracted again in the second quarter of 2020 by -7.8% on a quarterly basis. Meanwhile, the second-quarter economy was -27.8% year-on-year or yoy. This happened because of the pandemic of the Corona virus that has disrupted the economy. The handling of Corona in Japan was praised by the Indonesian government for failing to achieve a total lockdown in dealing with the pandemic. However, economic activity continued to decline significantly as workers and consumers chose to stay at home. We got a big hit in April and May, but the economy we even reached had bottomed out in May, and in June a pretty big revival, "said Izumi Devalier, the main Japanese economist at Bank of America Merrill Lynch. Times Although the abyss of dein goes recession towards ...