The Indonesia Stock Exchange (IDX) is preparing a 50 percent discount on initial listing fees for companies wishing to go public to encourage more firms to seek funding through the stock market.IDX assessment director I Gede Nyoman Yetna told the press on Tuesday that newly listed companies would only have to pay around Rp 12.5 million (US$867) to Rp 125 million for an initial listing fee. The fees would depend on which board the companies were listed on, he added.“This applies to companies that want to list their shares on the bourse [through initial public offering (IPO)], as well as to listed companies that want to issue additional new shares,” he said during a virtual press briefing. Topics : “This initiative could also entice more companies to go public or seek more funding through the stock market,” he told The Jakarta Post on Wednesday.Although many investors are still in wait-and-see mode as the coronavirus continues to spread across the globe, Samsul suggested that companies that were seeking funding in the stock market should maintain intensive communication with investors so as to encourage investment.Despite the pandemic, 29 companies had listed their shares in the bourse thus far this year, the most recent one being packaging manufacturer PT Megalestari Epack Sentosaraya, which was listed on Thursday.In the meantime, the bourse is also considering whether to relax some of the trading regulations that have been issued to minimize pressure on the Indonesian stock market.The pandemic has caused a global stock market rout and caused the Jakarta Composite Index (JCI), the IDX’s main gauge, to lose more than 37 percent of its value as it touched its lowest level of 3,937 on March 27.“As we’ve started to see less volatility in the market compared with three months ago, we might discuss [the relaxation] with the OJK,” IDX trading director Laksono Widodo said.The regulations include the ban on pre-opening trading that takes place before the market opens at 9 a.m. and a halt in trading of stocks that have fallen by 7 percent.Laksono, however, could not predict when those regulations would be relaxed as he expected the bourse and the OJK would need time to discuss the matter.“Once we receive approval from the OJK, the change could be applied in a matter of days,” he added.Meanwhile, the IDX on Tuesday also appointed publicly listed coal miner PT Toba Bara Sejahtera director Pandu Patria Sjahrir as its new commissioner representing listed companies.Pandu, who is also the nephew of Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan, replaces publicly listed coal miner PT Adaro Energy president director Garibaldi “Boy” Thohir and will serve for the 2020-2023 period. The IDX also appointed two other commissioners, Heru Handayanto and Karman Pamurahardjo, to represent brokerage firms. For a new share listing, either a rights issue or private placement, companies would only have to pay around Rp 5 million to Rp 75 million. The new fees are effective from Jun. 18 to Dec. 17.IDX president director Inarno Djajadi said last Friday that the incentive was meant as a stimulus for companies that wanted to list their shares on the stock market.“This is also in line with Pak Wimboh’s instruction that self-regulatory organizations should also share the pain with others during this pandemic,” he said, referring to the Financial Services Authority (OJK) chairman.Publicly Listed Companies Association (AEI) executive director Samsul Hidayat lauded the IDX’s move, saying that the incentive would reduce companies’ expenses in listing their shares on the bourse.
Ministry officials are working to speed up spending of the allocated budget as President Joko “Jokowi” Widodo called on ministers recently to go the extra mile to accelerate policy making on the pandemic and the disbursement of funds. He even threatened, in an uncharacteristic speech, to reshuffle the Cabinet should the ministers fail to expedite spending.The government is borrowing huge sums of money, with the budget deficit rising to 6.34 percent of gross domestic product (GDP), more than double the previous legal ceiling of 3 percent, as it seeks to strengthen the healthcare system amid a spike in cases and bolster the virus-battered economy.As of Wednesday, the government had recorded more than 68,000 cases of coronavirus infection, with a daily infection rate of more than 1,000 in recent weeks, official data show.Medical workers associations across the country have called on the government to provide the promised incentives for medical workers, with many workers still waiting despite being on the front lines in the fight the pandemic.“The incentives are too slow to come through even though they are crucial for medical workers,” said East Java medical workers association chairman Sutrisno as reported by Kompas.com. “This [disbursement of funds] should be improved by public health authorities.”Read also: Government guarantees $6.9b in working capital loans for MSMEsBusiness associations are also anxious as they have yet to receive the incentives promised by the government to bolster the economy.“After the debt restructuring process, we now need working capital loans for micro, small and medium businesses as well as [big] businesses,” said Indonesian Chamber of Commerce and Industry (Kadin) chairman Rosan Roeslani, urging banks to soon disburse the working capital loans.The government has guaranteed the provision of Rp 100 trillion in working capital loans for micro, small and medium enterprises (MSMEs) following the launch of a loan guarantee program to help small businesses survive the pandemic.Finance Minister Sri Mulyani Indrawati said on Tuesday that she expected banks would channel between Rp 65 trillion and Rp 80 trillion in loans over the next 18 months.Topics : “We will now cut the process by allowing regions to verify and [directly] decide who will receive the incentives. We want to make a breakthrough but also maintain good governance,” he added. The government, he went on to say, aimed to provide flexibility in a bid to expedite spending.Read also: Administrative issues hamper COVID-19 budget disbursement: Sri MulyaniThe government has allocated Rp 87.55 trillion from the state budget to strengthen the healthcare system, including Rp 65.8 trillion for COVID-19 management, nearly Rp 6 trillion in incentives for medical workers and tax incentives worth Rp 9 trillion, among other allocations.The funds are part of the government’s Rp 695.2 trillion pandemic response budget to strengthen the nation’s healthcare system and support the economic recovery. The government has pledged to accelerate healthcare spending, including disbursing incentives to medical workers, as bureaucratic red tape hinders the process amid a surge in virus cases.The Finance Ministry’s special staff member for state expenditure Kunta Nugraha told reporters on Wednesday the government had only spent 5.12 percent of the Rp 87.55 trillion (US$6.06 billion) budget for health care due to complicated verification and lengthy approval processes.“The main problem is we need to verify the incentives distributed to medical workers and the process is taking a bit too long, from claims by healthcare facilities to verification by regional administrations and the central government,” Kunta said, adding that the government was taking measures to cut red tape.
However, the judges did not find the defendant guilty of two money-laundering offenses he was facing. The Corruption Eradication Commission (KPK) had accused him of laundering about Rp 1.9 trillion, which he had allegedly obtained from illicit activities.The sentence Wawan received was lighter than the six years of prison sought by the prosecutors.Both Wawan’s lawyer and the prosecution told the court they would consider appealing the sentence.Read also: Atut dynasty’s member accused of embezzling Rp 1.7 trillion over 7 years in Banten The Jakarta Corruption Court has sentenced Tubagus “Wawan” Chaeri Wardana, the younger brother of former Banten governor Ratu Atut Chosiyah, to four years in prison for accepting bribes related to several state projects in the province.The court also fined Wawan Rp 200 million (US$13,679) and will collect Rp 58 billion in restitution.The defendant was found guilty of violating Article 3 and 18 of the 2001 Anticorruption Law, which prohibit individual acts of self-gain that cause state losses. KPK prosecutors indicted Wawan for accepting Rp 58 billion in bribes pertaining to health equipment procurement for hospitals in Banten and community health centers (Puskesmas) in Tangerang in the 2012 fiscal year. The bribes were found to have caused Rp 94.31 billion in state losses.Atut, who served as the governor of Banten from 2007 to 2014, allegedly received Rp 3.8 billion as a result of the illicit practices. The corruption court sentenced her to five years in prison in 2017 after she was previously sentenced to seven years behind bars for bribing then-Constitutional Court chief justice Akil Mochtar to address an election dispute in Banten in 2013. KPK acting spokesperson Ali Fikri said that while he respected the verdict, he was confident about the prosecution’s case for Wawan’s alleged money laundering. “[Prosecutors] will study the judges’ considerations on the verdict for the next seven days before deciding to take any legal steps,” Ali said in a statement on Friday.The Thursday conviction was the third for Wawan. In 2014, he was sentenced to seven years in prison for his involvement in bribery pertaining to a regional election dispute in Lebak regency. Two years later, the judges gave him an additional year of prison in a separate corruption case pertaining to health equipment procurement in Banten.He is also on trial for allegedly bribing Wahid Husen, the former head of Sukamiskin Penitentiary in Bandung, West Java, in exchange for luxurious facilities for graft convicts in the prison.Topics :
Canada’s recent increase in coronavirus infections was expected as the economy reopens, a senior medical official said on Tuesday, while expressing concern about young people contracting the virus.Howard Njoo, Canada’s deputy chief public health officer, said the success of efforts to combat the outbreak was fragile and could be undermined by complacency.The daily case count across Canada is around 460, compared with 300 earlier this month. The 10 provinces are gradually lifting restrictions imposed in March. The premier of Ontario, the most-populous Canadian province, said he was concerned by an uptick in cases among people under 39, blaming a small number of young people “going hog wild.””Just don’t go to a party, simple … you’re hurting people by doing this,” Premier Doug Ford said.The western province of Alberta is also seeing a spike in cases. Premier Jason Kenney said, however, that it would fully reopen schools this autumn.“Evidence is overwhelming that schools can be operated safely and with little health risk for children and teachers, and low risk of causing outbreaks,” Kenney said.Canada has recorded 111,124 cases and 8,858 deaths, far fewer per capita than in the United States.”All of us in Canada … are looking very carefully and I think with some alarm, at what’s happening in the United States,” said Njoo.Topics : “Provinces [are]… trying to reopen at I think a very prudent pace. But everyone recognizes we would expect to get clusters of cases,” Njoo said.Officials in major cities attribute the spike in part to young people gathering in bars and at parties.Njoo said young adults made up around 55% of new cases, compared with one third in May.”That is concerning,” he said, blaming fatigue after months of lockdown and a feeling among the young that they are invincible.
Koca said at the weekend that the “first wave reached the beaches” as Turks and foreign tourists take to the country’s famous turquoise coast, especially during the Muslim Eid al-Adha holiday last week.The outbreak appeared to have worsened in the capital Ankara, the second most populous city in Turkey after Istanbul.The Ankara Medical Chamber (ATO) on Tuesday said “pandemic hospitals and their intensive care units in Ankara were 100 percent full” and unable to take in new COVID-19 patients.But the Ankara provincial health directorate contradicted the statement, saying intensive care units were 63 percent full in the city and insisting the pandemic remained under control.One of the most affected regions is the southeast, especially the provinces of Diyarbakir, Mardin and Sanliurfa, according to the Turkish Medical Association (TTB).A senior TTB official, Halis Yerlikaya, told the Tele1 channel on Monday that intensive care units in public hospitals “had no space left” in the three provinces.Yerlikaya suggested the official figures were not correct, saying the number of daily cases in Diyarbakir was “around 300”, and approximately “300-350” in Sanliurfa. Turkey has expressed concern over the rising number of coronavirus cases as the daily infection toll exceeded 1,000 for the second day in a row on Wednesday.Ankara has eased most of the restrictions that were in place since the first case was recorded in March, rising to a peak of more than 5,000 daily infections in April.But after nearly a month of daily cases numbering around 900, Turkish Health Minister Fahrettin Koca said 1,178 infections were recorded in the past 24 hours. Topics : Koca urged citizens on Wednesday to take precautions to avoid further increases.”We’re CONCERNED about the increase in the number of cases, previously limited to some provinces, spreading in the coming days throughout the country,” he also said on Monday, which saw 995 confirmed cases.The next day Turkey recorded 1,083 infections.The total number of deaths now stands at 5,784 and infections at 236,112.
Advertisement Comment Advertisement Dani Ceballos is reportedly close to joining Arsenal on loan (Picture: Getty)Arsenal manager Unai Emery has refused to rule out a move for ‘very good player’ Dani Ceballos.The Gunners have only brought in 18-year-old forward Gabriel Martinelli so far this summer, but Emery is determined to bring in further reinforcements before the transfer window closes.Reports in Spain suggest Real Madrid’s Ceballos, 22, will be the next through the doors at the Emirates, with the north London giants ‘one step away’ from completing a loan deal for the midfielder.It’s understood Emery has played a key role in convincing Ceballos to join Arsenal over the likes of Tottenham and Liverpool who have also registered an interest in the Spain international.AdvertisementAdvertisementADVERTISEMENTMore: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityCeballos is keen to secure regular playing time next season and understands that a temporary move to Premier League would be beneficial for his career.Asked about the rumours surrounding Ceballos on Arsenal’s pre-season tour, Emery replied: ‘I don’t want to speak about the names but Ceballos is a very good player.’ Ceballos starred for Spain at the 2019 European U21 Championships (Picture: Getty)Though Arsenal reportedly having a measly £45million to spend on new recruits this summer, Emery claimed the club are looking to sign ‘very big, very expensive’ players.‘Our target is to achieve three, four players to really improve our team and squad now,’ the Spaniard added.‘We are being very demanding and we are also first speaking about the possibility to sign very big players, very expensive.‘The first player in our list is the first target and after, if we cannot have that then [we try to sign] the second, but thinking every time that they are going to improve our team.’More: FootballBruno Fernandes responds to Man Utd bust-up rumours with Ole Gunnar SolskjaerNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesArsenal have also being heavily linked with Celtic left-back Kieran Tierney and Emery confirmed that he’s in been in close contact with the club over his targets.‘We are having a lot of meetings with the club, with [technical director] Edu, also with Josh and Stan Kroenke in Denver,’ he said.‘We have a very clear idea: to sign the players who can help us with a good performance and in the positions we need.’MORE: Ole Gunnar Solskjaer names the two Manchester United players who will replace Ander Herrera Metro Sport ReporterWednesday 17 Jul 2019 8:14 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link4.2kShares Arsenal boss Unai Emery refuses to rule out Dani Ceballos transfer move
Advertisement Arsenal confirm new deals for David Luiz, Pablo Mari, Cedric Soares and Dani Ceballos David Luiz has put pen to paper on a new one-year contract at Arsenal (Picture: Getty)Arsenal have confirmed that David Luiz, Pablo Mari and Cedric Soares and have all signed contracts to stay at the club beyond the summer. In an official announcement on Wednesday morning, the club also revealed that Dani Ceballos had extended his loan from Real Madrid until the end of the 2019/20 campaign.Much of the talk following Arsenal’s comprehensive defeat at Manchester City surrounded the future of Luiz and the central defender has put an end to the uncertainty by putting pen to paper on a new one-year deal. Ceballos has extended his stay until the end of the season (Picture: Getty)‘With Pablo we’re all disappointed he got injured at Manchester City. Since Mikel arrived here he was asking for a central defender who was left-footed. ‘We were really pleased with Pablo – his behaviour, the way he is training, his mentality and his quality. Unfortunately, he has that injury but of course we are really happy to keep him for the future. ‘Cedric is also going to be an important player. He has been unlucky with the injuries but he is close to being ready and gives us more strength in the right-back position. ‘We’re also pleased Dani will finish the season here. He is making a good contribution and we look forward to him having a strong finish to the season.’ Comment Soares has joined Arsenal on a permanent long-term deal (Picture: Getty)Soares is yet to make a single appearance for Arsenal since his move at the end of the January transfer window. The Portugal right-back arrived with a knee ligament problem and a facial injury prevented him from competing against Charlton Athletic and Brentford earlier this month. He joins the north London giants on a free transfer with his deal at Southampton coming to an end. More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalMari, meanwhile, has played three times for Mikel Arteta’s first-team but the defender looks set for a lengthy spell on the sidelines after suffering an ankle injury at the Etihad.It’s understood the Spaniard could be out of action for up to three months.Follow Metro Sport across our social channels, on Facebook, Twitter and Instagram. For more stories like this, check our sport page.MORE: Dimitar Berbatov sends warning to Scott McTominay after signing new Manchester United contractMORE: Mikel Arteta hits back at Gary Neville and reveals Arsenal’s transfer plans are undecided Advertisement Metro Sport ReporterWednesday 24 Jun 2020 8:53 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link523Shares Mari has signed a long-term deal with the Gunners (Picture: Getty)Mari, who joined on loan from Flamengo in January, has completed a formal move and agreed a new long-term contract at the Emirates while Soares’ switch from Southampton has been made permanent.AdvertisementAdvertisementADVERTISEMENTArsenal technical director Edu told the club’s official website: ‘I am really happy that we will have these players in our squad for the future. ‘They have been part of the long-term technical plan Mikel and I have developed. They bring the right balance to our squad. ‘David is a really important player for us. He has played most of our matches this season and has been important for the team. His passing, his communication with the team on and off the pitch. He helps everyone.
Why William Saliba rejected Manchester United to join Arsenal Gabriel is expected to sign a five-year deal with the club (Picture: Getty)The defender could be joined by Lille star Gabriel in the coming days as the Brazilian was in London on Monday to complete a medical with the Gunners.Arteta’s side have seen off competition from Manchester United, Napoli and Everton for the 22-year-old.Gabriel could become Saliba’s new centre-back partner, though Arteta has a host of other options in central defence including Pablo Mari, David Luiz and Rob Holding.MORE: Arsenal right-back Hector Bellerin offered to Paris Saint-Germain Comment William Saliba rejected Manchester United to join Arsenal (Picture: Getty)William Saliba is yet to kick a ball for Arsenal but, more than a year after he signed a deal with the club, the Frenchman arrives at the Emirates with high expectations. The 19-year-old completed a £27m move to the Gunners last July but he agreed to spend a further season with St Etienne before moving to north London.Though Saliba is still a teenager, supporters are hopeful that the towering centre-back can cure the Gunners’ problems at the back, which were present long before Mikel Arteta took charge. The teenager arrives at the club with plenty of promise and the Gunners were far from the only club that attempted to sign the defender.ADVERTISEMENT Advertisement Saliba arrives with big expectations (Picture: Getty)Tottenham’s interest in Saliba was well known and the Frenchman had a clear choice between Spurs and Arsenal last summer, only to opt for the red half of north London.AdvertisementAdvertisementHowever, the Telegraph claim that Saliba was approached by Manchester United in January 2019 and the Red Devils made a lucrative offer to sign the defender.Ole Gunnar Solskjaer had just taken charge at Old Trafford but he had identified his central defence as an area of high priority, which led to the £80m acquisition of Harry Maguire that summer.Saliba was flattered by United’s interest but according to the Telegraph, the Frenchman was ‘focused’ on Arsenal given the Gunners had long tracked him and had presented the more concrete proposal.Added to this, Saliba is a boyhood Arsenal fan and he’s long dreamed of following a long line of his compatriots in playing for the club. Metro Sport ReporterMonday 24 Aug 2020 8:45 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link5.3kShares Advertisement