Oil price slump a double-edged sword for Indonesia, Sri Mulyani says

first_img“The positive side is the price of energy will be relatively cheap,” Sri Mulyani told reporters in Jakarta. “However, this could lead to bigger uncertainty in the capital market.”Read also: Oil plunges about 30% after Saudi Arabia slashes prices, opens tapsGlobal share markets tumbled on Monday as panicked investors fled to bonds to hedge the economic shock of the coronavirus and the oil price slump.Sri Mulyani added that the government would continue to monitor the low oil price situation and its potential impact on the state budget. “For the state budget, in revenue from oil, as I said, we are facing low prices, and volume is also down because exports and production are declining, as well as the currency rate,” she pointed out. “We will assess its impact on this year’s state budget as well as the assessment for 2021.”Read also: Indonesia’s 2019 budget deficit widens to 2.2 percent amid tax revenue short fallSaudi Arabia, the world’s biggest oil exporter, is attempting to punish Russia, the world’s second-largest producer, for balking on Friday at production cuts proposed by the Organization of the Petroleum Exporting Countries (OPEC).OPEC and other producers supported the cuts to stabilize falling prices caused by the economic fallout from the coronavirus outbreak.Saudi Arabia plans to boost crude output above 10 million barrels per day (bpd) in April after the current supply deal between OPEC and Russia – known as OPEC+ – expires at the end of March, according to Reuters.Topics : Low oil prices may be a double-edged sword for Indonesia after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to boost supply amid falling demand due to the coronavirus outbreak.Finance Minister Sri Mulyani Indrawati said on Monday that the current price war amid the weakening economy due to the outbreak may benefit Indonesia’s imports as a result of lower oil prices. Brent crude futures fell by the most since 1991 on Monday, by US$14.25 or 31.5 percent to $31.02 per barrel.The current circumstance may ease state-owned oil producer Pertamina’s oil import burden, she added.last_img read more

Cricket News Sachin Tendulkar’s son bought for THIS price in T20 Mumbai League Auction

first_img Mumbai : Arjun Tendulkar, son of cricket icon Sachin Tendulkar, was on Saturday picked for Rs 5 lakh by the Aakash Tigers Mumbai Western Suburb for the second season of the T20 Mumbai League after an intense bidding. At the auction, Arjun, a budding left arm pacer and a batsman, who had played unofficial Tests for India-U19, was among the few players in focus. Arjun was included in the all-rounder category with a base price of Rs 1 lakh.Several teams bidded for him but the highest bid was raised to Rs 5 lakh by North Mumbai Panthers, which is the maximum bid amount, after which Charu Sharma, who was conducting the auction, gave the two new teams — Aakash Tigers Mumbai Western Suburb and Eagle Thane Strikers — an option to exercise the OTM (Opportunity to Match). Arjun Tendulkar is bought for 5 lakh rupees in Mumbai T20 League. The likes of Sarfaraz Khan, Dhawal Kulkarni, Shivam Dube will be a part of this league. The league will begin on May 14 at Wankhede Stadium in Mumbai.  highlights Both the new teams opted to exercise the OTM at Rs 5 lakh after which two cards were placed in a bag and Mumbai Cricket Association ad hoc committee member Unmesh Khanvilkar picked up a card which was of Aakash Tigers and that is how they got Jr Tendulkar.Before the auction, players like Suryakumar Yadav, Akash Parkar (Triumph Knights Mumbai North East), Shivam Dube, Siddhesh Lad (Shivaji Park Lions), Prithvi Shaw (North Mumbai Panthers), Jay Bista and Dhurmil Matkar (SoBo Supersonics), Shubham Ranjane, Tushar Deshpande (Arcs Andheri), Shreyas Iyer, Eknath Kerkar (Namo Bandra Blasters) were retained by the six franchises.Aditya Tare, Sarfaraz Khan (Eagle Thane Strikers), Dhawal Kulkarni and Shams Mulani (Aakash Tigers Mumbai Western Suburbs) were chosen by the two new franchises in the eight-team affair.Before the auction, it was announced that seven U-19 players including batsman Yashasvi Jaiswal were not available for the league, which begins on May 14 at the Wankhede stadium. Meanwhile, Sujit Naik also fetched Rs 5 Lakh bid. Sachin Tendulkar is the brand ambassador of the League. For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more

UKGC strengthens commissioner ranks for critical 2020

first_imgShare Share Submit StumbleUpon Winning Post: Swedish regulator pushes back on ‘Storebror’ approach to deposit limits August 24, 2020 The UK Gambling Commission (UKGC) has this morning confirmed the appointment of four new commissioners, strengthening its regulatory oversight for a crucial 2020 agenda and further future proceedings.  The commissioner appointments have been approved by the Department of Digital, Culture, Media and Sport (DCMS) – allowing Terry Babbs, Brian Bannister, Jo Hill and Sir Martin Narey to join UKGC governance ranks.The UKGC confirmed that its new commissioners will join from 30 April, with each appointee beginning a five-year tenure as senior advisors to the regulatory body.A public and private sector governance veteran, Babbs is the current vice-chair of Oxfam’s investment committee overseeing the international charity’s enterprise development programmes.Meanwhile, former KPMG  global communications chief Bannister currently serves as the Executive Director for Strategic Insights at The Law Society of England and Wales.Supporting the development of its research programmes, Hill currently serves as an Executive Director for The Pensions Regulator.Hill was previously Director of Market Intelligence, Data and Analysis at the Financial Conduct Authority (FCA) and also a Trustee of the Money and Mental Health Policy InstituteCompleting the new recruits is former Barnardo Chief Executive Narey. A leading figurehead in UK public service, He was the Director-General of the Prison Service of England and Wales for seven years and also headed the Probation Service for a three-year term. Bill Moyes, Chair of the Gambling Commission, said: “Terry, Brian, Jo and Sir Martin bring a wealth of valuable expertise to the Board of Commissioners.“Their collective experience will help us as we look to implement further protections for consumers and strongly regulate what is a fast-moving and innovative industry. I’d like to welcome them to the Commission and look forward to working closely with them.” Senet Australia appoints Paul Newsom as new client advisory lead  August 27, 2020 Related Articles UKGC launches fourth National Lottery licence competition August 28, 2020last_img read more