Home » Economy » Page 10602
Category:

Economy

Read the latest economy news, market trends, and financial analysis on Archyde. Stay informed with global economic updates and expert insights.

Economy

Analysis of BI’s Efforts for Exchange Rate Stability Are Appropriate – 2024-04-25 18:40:34

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief
The screen displays the Bank Indonesia (BI) logo in Jakarta (Antara)

The Rupiah exchange rate was once more depressed to around IDR 16,200 per US Dollar. Senior Portfolio Manager, Equity, PT Manulife Asset Management Indonesia (MAMI), Samuel Kesuma, said that the weakening of the rupiah exchange rate was more due to global factors.

One of the current focuses of Bank Indonesia (BI) is also appropriate, namely efforts to stabilize the exchange rate.

“This is what makes BI still maintain its benchmark interest rate unchanged,” said Samuel, Tuesday (23/4).

BI continues to strengthen its policy mix to maintain the exchange rate through intervention in the currency market and purchasing SBN in the secondary market which is also expected to support the bond market.

“If the current exchange rate volatility proves to be just a temporary spike, our projection for the Rupiah exchange rate at the end of the year is in the range of 14,900 – 15,300 per US Dollar,” said Samuel.

Meanwhile, regarding the stock market, he said that in the midst of the current dynamics, we should be grateful that Indonesia’s economic growth momentum is still maintained.

Also read: Keep Inflation, BI Maintains Molded Interest Rates

Since December 2022, the Consumer Confidence Index has been stable at above level 120, while the latest manufacturing sector index is at the highest level since November 2021, and retail sales data since December 2023 has gradually consistently turned positive.

“Continuing recovery makes BI estimate that Indonesia’s GDP can grow in the range of 5.1% in 2024,” said Samuel.

Positive economic momentum amidst low stock market valuations actually opens up opportunities for investors who want to invest early, taking advantage of the transition from an era of high interest rates to more accommodative interest rates.

Also read: US Dollar Strengthens, Minister of Finance: Rupiah Stability Remains Maintained

Several catalysts that are expected to support more sustainable positive sentiment are the release of company performance for the first quarter of 2024, including the company’s direction and outlook for the future post-Idul Fitri, liquidity normalization in line with monetary easing plans.

“As well as economic policies and prospective new government cabinet members to predict the direction of future medium-term economic growth,” said Samuel.

The strategy amidst the current dynamics is to focus on issuers and sectors with good bottom-up fundamentals and which are relatively little affected by short-term volatility in global macro expectations.

The telecommunications sector has attractive prospects going forward. Even though there are concerns regarding worsening competition in the industry, telecommunications issuers stated that they would continue to focus on profitability as the main goal. The defensive characteristics of the telecommunications sector are also an added value in the current market situation.

“For the theme and potential for structural growth, we still maintain sectors related to raw materials related to the new renewable energy industry. The transition to the era of decarbonization benefits Indonesia which has abundant commodities needed in new renewable energy technology,” said Samuel. (Try/Z-7)

#Analysis #BIs #Efforts #Exchange #Rate #Stability

0 comments
0 FacebookTwitterPinterestEmail
Economy

Mayor of Schaerbeek Files Complaint After Insults at Municipal Council Meeting: Updates and Reactions

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

2024-04-25 16:59:00

The mayor of Schaerbeek, Cécile Jodogne (LB-DéFI), filed a complaint following being insulted on Wednesday night by residents during the municipal council.

During a heated session, individuals called the elected official a “filthy whore” and later said she would not be “beautiful, young and efficient” enough, according to information from her office.

► SEE ALSO | Schaerbeek: insults uttered once morest the acting mayor during the municipal council

“We immediately condemned the behavior of these citizens. This is a small group that once once more causes noise. It is important that the debates in the municipal council can take place in a transparent manner, the mayor therefore decided to allow the session to take place. On Thursday we decided to lodge a complaint“, the company specified.

For several months, the municipal council meetings have been far from being a long, quiet river in Eselbyen. The implementation of the Good Move mobility plan has created serious tensions in some neighbourhoods.

On a political level, the Mayor’s List and Ecolo no longer have a majority in the municipal council and the opposition regularly walks out of the session, which makes it impossible to hold votes.

Belga – Photo: Belga


1714069896
#Schaerbeek #Cécile #Jodogne #complains #insults #municipal #council

0 comments
0 FacebookTwitterPinterestEmail
Economy

Russia supplies the UAE with a third of its annual grain needs

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

Russia – Andrei Terekhin, the Russian trade attaché to the UAE, announced that Russia supplies the UAE with a third of its annual grain need.

Terekhin said on the sidelines of the annual international business forum “World of Opportunities”, organized by the Russian “Synergia” University with the support of the “Roscongress” Foundation in Dubai: “One of the most important areas is the supply of Russian agricultural and industrial products and food to the Emirates, which, by its natural conditions, relies heavily on foodstuffs.” “Imported.”

He added: “The UAE imports regarding 90% of its food needs, and this opens opportunities for our exports from agricultural industries. Russia is the largest exporter of grains in the world, and the share of Russian grains in the UAE’s total imports is regarding 30-35%.”

The UAE is considered Russia’s largest trading partner among the countries of the Middle East, as the volume of trade between the two countries has increased significantly over the past few years and continues to grow rapidly and by the end of 2023 it approached $11 billion.

Terekhin pointed out that the UAE is one of the largest producers and exporters of oil and gas, with the share of the oil and gas industry in the UAE’s gross domestic product reaching 30%.

He added: “This opens opportunities for Russian oil and gas equipment manufacturers. Russian oil and gas equipment manufacturers have moved and there is demand for their equipment.”

He pointed out that the most important condition and often an obstacle to the promotion of Russian high-tech equipment is the unification of Russian and international standards.

He added that work is being done successfully with the UAE within the framework of the Russian-Emirati governmental committee to unify standards and technical specifications and issue the necessary certificates for Russian equipment intended to be exported to the UAE.

Source: Novosti

#Russia #supplies #UAE #annual #grain
2024-04-25 17:25:49

0 comments
0 FacebookTwitterPinterestEmail
Economy

Pakistan Stock Exchange returns after long jump in trading, touching new highs – Business & Economy

by Alexandra Hartman Editor-in-Chief
written by Alexandra Hartman Editor-in-Chief

The Pakistan Stock Exchange witnessed another big jump during trading today, with the Trading Hundred Index hitting an all-time high of 72,550.

On Thursday morning, business in Pakistan Stock Market started very positive and the index reached the highest level of 72 thousand 550. An increase of more than 550 points was seen in the 100 index during trading.

However, following some time profit taking trend was seen in the market and 100 index fell by 280 points to 71 thousand 700.

It should be noted that the previous day also A selling trend was also observed in some shares to take profit during market tradingHowever, the index closed at the level of 72050 points following gaining 692 points at the end of market trading.

By amending the tax law, the powers of the ombudsman are limited, what is in the new bill?

Another big increase in gold price in Pakistan

‘Buy an old car, buy a new one’, Suzuki has introduced a great offer

According to experts, there are various reasons for the boom in the market, but the main reason is the visit of the finance minister to Washington, in which he met with the officials of international financial institutions, including the IMF, following which a long-term IMF for Pakistan. The possibilities of the program have increased considerably.