Category: hkadd

Letting activity takes a downturn in the City

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BRI to pay Rp 20.6 trillion in dividends

first_imgState-owned Bank Rakyat Indonesia (BRI), the nation’s most profitable lender, announced on Tuesday a plan to distribute Rp 20.6 trillion (US$ 1.5 billion) in dividends to its shareholders.The dividends are equal to 60 percent of the bank’s profits of Rp 34.4 trillion, higher than last year’s dividend payout ratio of 50 percent. This means that the value of the dividend of each share will be Rp 168.1, 27.2 percent higher than last year’s dividend of Rp 132.2 per share.BRI, the biggest state bank by market value, also recorded a 6.1 percent yoy increase in earnings per share (EPS) in 2019 of Rp 279 compared with the 2018 EPS of Rp 263. BRI president director Soenarso said on Tuesday that the government, which holds a 56.75 percent stake in BRI, would receive a total of Rp 11.7 trillion of the dividend.“The remaining 40 percent of our profits will be used as retained earnings,” he said during a press briefing after the annual general shareholders’ meeting in Jakarta.BRI’s profits of Rp 34.4 trillion were the lowest in two years as lending growth slowed and the bank recorded a significant rise in bad loans last year, against the backdrop of the global and domestic economic slowdown.Lending grew 8.44 percent yoy in 2019 to Rp 908.88 trillion versus 14 percent yoy in 2018. Net interest income grew 5.2 percent to Rp 81.7 trillion in 2019, slower than the 6.35 percent in 2018. Bad loans as indicated by the non-performing loans (NPL) ratio rose to 2.8 percent last year from 2.27 percent in 2018. Read also: BRI profits slumps as bad credit rises in 2019center_img The shareholders meeting also agreed to appoint Deputy State-Owned Enterprises (SOEs) Minister Kartika “Tiko” Wirjoatmodjo as the bank’s new president commissioner, replacing Andrinof A. Chaniago.It also appointed University of Indonesia (UI) rector and renowned economist Ari Kuncoro as the bank’s deputy president commissioner, who will also act as an independent commissioner, replacing Wahyu Kuncoro.The bank also made changes to its board of directors as it appointed Wisto Prihadi as the bank’s compliance director. The position was previously held by Azizatun Azhimah.SOE Minister Erick Thohir said last week that the ministry would shake up three state banks during their respective shareholders’ meetings that will take place this week, namely BRI, Bank Mandiri and Bank Negara Indonesia (BNI).”It’s normal as long as we can see someone who has great expertise,” Erick said, brushing off concerns about an “overhaul” of state enterprises.Bank Mandiri’s shareholders’ meeting will take place today (Wednesday) and BNI’s on Thursday.Read also: Erick Thohir to shake up executives at state lendersShares in BRI, traded under the code BBRI, closed at Rp 4,400 apiece on Tuesday, down 1.57 percent from the previous trading day. The stocks have risen 12.5 percent in the past year, easily outperforming the broader benchmark Jakarta Composite Index’s (JCI) 9 percent drop.Topics :last_img read more

Foreign envoys extend condolences over death of President Jokowi’s mother

first_imgSeveral foreign envoys in Indonesia have taken to social media to extend their condolences over the death of President Joko “Jokowi” Widodo’s mother, Sudjiatmi Notomihardjo, on Wednesday.Australian Ambassador to Indonesia Gary Quinlan offered his condolences on his official Twitter account, @DubesAustralia.Deepest condolences from myself and all Australians in Indonesia and at home to President @jokowi and his family on the very sad news of the passing of his mother, Sujiatmi Notomiharjo. Turut berduka cita.— Gary Quinlan (@DubesAustralia) March 25, 2020“Deepest condolences from myself and all Australians in Indonesia and at home to President Jokowi and his family on the very sad news of the passing of his mother, Sujiatmi Notomihardjo,” Quinlan tweeted. Responding to the news of the Sujiatmi’s passing, South Korean Ambassador to Indonesia Kim Chang Beom also offered his condolences on Twitter.On behalf of the Korean Embassy and the Korean community, I extend my deepest condolences on the passing of Mrs. Sujiatmi Notomiharjo, mother of President Jokowi. May she Rest In Peace with the Almighty. @jokowi @UmarHad73314840 @korembindonesia @Kemlu_RI @kompascom @jakpost— KIM Chang Beom (@changbkim) March 25, 2020“On behalf of the Korean Embassy and the Korean community, I extend my deepest condolences on the passing of Mrs. Sujiatmi Notomiharjo, mother of President Jokowi. May she rest in peace with the Almighty,” @changbkim tweeted, alongside a picture of Sujiatmi embracing Jokowi.Meanwhile, British Ambassador to Indonesia Owen Jenkins tweeted his condolences in Indonesian on his official Twitter account, @DubesInggris.Turut berduka cita atas meninggalnya Ibunda tercinta dari Presiden RI @jokowi Ibu Sudjiatmi Notomihardjo. Semoga arwah beliau diterima disisiNYA.— Owen Jenkins (@DubesInggris) March 25, 2020“I’m very sorry about the passing of President Jokowi’s beloved mother, Sudjiatmi Notomihardjo. May she rest in peace,” Jenkins wrote.Sujiatmi passed away at age 77 in Surakarta, Central Java on Wednesday, presidential spokesperson Fadjroel Rachman confirmed.President Jokowi departed from Jakarta and arrived in Surakarta at 5:52 p.m. on Wednesday, the Presidential Palace press bureau said in a statement.Jokowi said Sujiatmi had died from an illness she had suffered for the past four years and asked the public to pray for her. Her burial was scheduled for 1 p.m. on Thursday.Topics :last_img read more

Gov. Wolf Proposes Minimum Wage Increase for Sixth Time

first_img Budget News,  Jobs That Pay,  Minimum Wage,  Press Release Governor Tom Wolf is building on his commitment to help hardworking Pennsylvanians. Today, the governor joined legislators and workers to renew his call to raise Pennsylvania’s minimum wage to $12 an hour with a pathway to $15. Later this week, the governor’s plan to extend overtime pay eligibility to 82,000 more workers will be considered by the state’s rule-making board.The General Assembly has not passed a minimum wage increase in more than a decade, despite wide public support and many Pennsylvanians working full-time and multiple jobs but still unable to afford their lives.The governor’s proposal would give a direct wage increase to 1 million workers, provide better financial stability for women, rural and tipped workers, enable thousands of people to work their way off public assistance and grow the economy for everyone.“There’s momentum to finally raise the wage, but momentum in the Capitol doesn’t put food on the table in workers’ homes,” said Governor Wolf. “Too many workers are still struggling to get by because Pennsylvania hasn’t raised the minimum wage in more than a decade. The cost of living goes up and Pennsylvanians wait as 29 other states, including all of our neighbors, raised the minimum wage for their workers.”“Pennsylvanians shouldn’t earn less than workers in West Virginia, Ohio, or New Jersey for the same job. We are a state known for our tremendous work ethic, but when jobs don’t pay enough, people can’t afford basics like food, housing, childcare and transportation. That should be unacceptable to all of us. Hardworking people deserve the dignity of being able to support themselves.”Pennsylvania’s minimum wage has been stuck at $7.25 an hour since 2009, the minimum wage allowed by federal law. A full-time, year-round minimum wage worker earns only $15,080 annually, less than the federal poverty threshold for a family of two. Twenty-nine states have a higher minimum wage and 21 states are increasing the wage floor this year.The governor’s proposal raises the minimum wage to $12 an hour on July 1, 2020 with annual 50 cent increases until reaching $15 an hour in 2026. When workers are paid fairly, fewer people will need public assistance. At $15 an hour, nearly 93,000 adults will leave Medicaid and the workers will generate more than $300 million in state tax revenue in 2026.The governor was joined at a Capitol press conference by Sen. Christine M. Tartaglione, minority chairwoman of the Senate Labor & Industry Committee, and Rep. Patty Kim, both champions of raising the minimum wage.“The unwillingness of Pennsylvania House leaders merely to consider our bipartisan minimum wage legislation is a sad commentary on their commitment to the working people of the Commonwealth,” said Sen. Tartaglione. “Senate Bill 79 is a product of good-faith collaboration and compromise, a process in which all stakeholders were heard, and perspectives considered. It represents what we can achieve as a legislature if we focus on the practical needs of our constituents. Instead, regressive ideologies and nebulous special interests seem to be calling the shots. As a result, millions of low-wage Pennsylvanians continue to suffer.”Raising the minimum wage will improve the economic security of women and is a step toward closing the gender pay gap. Six in ten workers earning less than $12 are women. Additionally, 30 percent of workers getting a boost in pay are age 40 or older, which refutes harmful stereotypes by making clear that hundreds of thousands of adults are stuck making poverty wages. Further, it dispels the harmful myth that low-wage workers are mostly teenagers. All low-wage workers, no matter their age, would benefit from a minimum wage increase and deserve to be paid a living wage“I’m grateful that Governor Wolf has once again included a living wage for Pennsylvanians as a budget priority,” said Rep. Kim. “We can’t sit back for another year and watch other states lead on minimum wage. We have lagged behind for too long while workers are working longer and bringing home less. Let’s lead on this important issue that will help hundreds of thousands of families stop the paycheck-to-paycheck lifestyle. Let’s reward hardworking people and raise the minimum wage to $12 per hour.”Rural workers will also benefit from an increase in the minimum wage. The highest percentage of workers getting a raise are in 29 rural counties. Raising the wage will make the paychecks of hardworking rural workers more competitive with jobs in cities and the suburbs.In 2018, the governor signed an executive order raising the minimum wage for commonwealth employees under the governor’s jurisdiction to $12 an hour with a pathway to $15 by 2024. Today, the minimum wage for state workers is $12.50.“Waiting more than a decade for a minimum wage increase is too long,” said Governor Wolf. “The public overwhelmingly supports raising the wage and it’s time for Harrisburg to listen. The legislature must stand with workers and raise Pennsylvania’s minimum wage.”New Overtime RulesIn addition to fighting for a minimum wage increase, more than 82,000 workers will get the pay increases they deserve if new overtime rules submitted by the Wolf Administration are approved by the Independent Regulatory Review Commission (IRRC) on Jan. 31. That is in addition to the 61,000 Pennsylvania workers who became eligible for time-and-a-half pay when new federal rules took effect Jan. 1 for workers earning less than $35,568.The governor’s proposal would require overtime pay to most full-time salaried workers in executive, administrative, and professional jobs if they make less than $45,500 by 2022. With the combined rule changes, an estimated 142,000 more workers will be eligible for time-and-half pay compared to last year. Gov. Wolf Proposes Minimum Wage Increase for Sixth Time SHARE Email Facebook Twittercenter_img January 28, 2020last_img read more

Institutional investors’ delegation to visit tailings dam communities

first_imgA high-level delegation of institutional investors is to visit the sites of the Mariana and Brumandinho tailings dam collapses in Brazil later this year in order to assess for itself the responses to the tragedies amid “radically divergent” accounts of what has happened. The delegation will be made up of representatives from the Church of England Pensions Board (CEPB), the Council of Ethics for the Swedish Public Pension Funds, UN Principles for Responsible Investment (PRI), and the Local Authority Pension Fund Forum (LAPFF).Last January, the collapse of a tailings dam near a mine in south-east Brazil killed 270 people, while a river of iron ore waste contaminated the countryside. This led to calls from institutional investors for a global independent public classification system to monitor the safety risk of such dams.Immediately afterwards and in response to the disaster, the CEPB and the Council of Ethics set up the Global Mining and Tailings Safety Initiative, a vehicle for engagement which convenes institutional investors active in the extractive industries and which now has over US$14trn (€12.7trn) in assets under management. The CEPB and the Swedish funds also sold their shares in Vale, the company which owns the mine, immediately after the disaster.The delegation to Brazil was announced today at the Initiative’s summit held in London, in which representatives of the communities affected participated. ‘Radically divergent accounts’Doug McMurdo, LAPFF chair, said the organisations behind the initiative sought equally to understand both the company and the community perspectives.“As both human beings and investors, we need clarity not just on what happened, but about how to respond”Doug McMurdo, LAPFF chair“Our difficulty is that we are hearing radically divergent accounts of events and responses, and as both human beings and investors, we need clarity not just on what happened, but about how to respond to where we are now and how to prevent future tragedy.”McMurdo continued: “To this end, the delegation will undertake its own assessment of the responses from companies to the Mariana and Brumadinho disasters. It will report against defined terms of reference, which will be published in due course following engagement with the communities and other stakeholders.”The summit also saw the launch of the first-ever global public database of over 1,900 tailings dams, which captures disclosures made by mining companies in response to the request made by the group.At the summit, investors adopted a set of principles for mining companies as well as principles to guide how investors engage with and finance the sector. These principles will be presented to PRI and all members asked to support them.Meanwhile, the group called on companies and governments to jointly set up a global tailings alert/monitoring system similar to those in aviation and shipping, to establish an urgent process of identifying and then removing the most dangerous tailings dams.John Howchin, secretary general of the Council of Ethics for the Swedish Public Pension Funds and co-chair of the Global Mining and Tailings Safety Initiative said: “One year on from this disaster, that should never have happened, we release the first global tailings database tracking 1,900 of the world’s tailings dams.“This is a fraction of the dams that exist but it is a start, and establishes what we expect from any company seeking finance from investors.”Howchin said: “We are continuing to engage with companies that have not disclosed, and will use votes and company AGMs to ensure this request is responded to. Not reporting is unacceptable and poses a risk to our pension funds.”last_img read more

Attacking Cuba is big business

first_img Tweet 13 Views   no discussions Share NewsRegional Attacking Cuba is big business by: – November 21, 2011 Sharecenter_img Sharing is caring! Share Americo MartinCARACAS, Venezuela (South Journal) — A telephone conversation revealed by Venezuela’s VTV show “La Hojilla”, between a man identified as Fernando and Americo Martin, a long-established anti-Venezuela and anti-Cuba activist, is said to corroborate that the Venezuelan opposition is paid by powerful groups to destabilize the South American nation.The man called Fernando proposed that Martin give a lecture on December 10 about Cuba, but Martin said he was tired of speaking about Cuba and suggesteds another subject, though finally he agreed because in the end “Cuba is best sold”, as Fernando pointed out.“Just tell me the date when you can give a two-hour lecture on the issue you prefer on Saturday, December 10. Cuba is the best subject to sell, because we charge and we pay for this thing,” said Fernando, who also offered Martin money and trips abroad, according to Venezuelan news website Aporrea.On top of that Fernando assured that Martin’s lecture would be promoted by the New York Times, and other media outlets.Martin, part of the opposition against Venezuelan President Hugo Chavez, frequently attacks Cuba and Venezuela with his writings and lectures, mainly published by El Nuevo Herald newspaper and other US-based media. He has also been invited by Florida-based anti-Cuba radio stations to speak against the two countries.Caribbean News Nowlast_img read more

Starting Football Programs

first_imgTwo of the areas’ young coaches are learning how hard it is to either start a football program from scratch or revive one which has taken its lumps for several years. In the case of a new program, like OA, you will fight the numbers game. When your enrollment hovers below 200, you are never going to get the kids out like an East Central will. If you only win one game for two or more years, it is hard to get more than about 30 kids out even if you have 900 in the high school. This is what Chris Nobbe found when he took over the head job at South Dearborn. It is hard to predict which program will prosper faster. OA under Wes Gillman has one advantage in that they will be playing a lot of 1-A schools just like they are. Chris, on the other hand, is faced with playing 3-A to 6-A schools. Even if he has more athletes, his competition level in the EIAC is never going to be easy. Both of these young men had stellar high school careers in football. Coach Gillman came within one game of leading the Wildcats of Franklin County to a state title. A knee injury in the title game probably cost him that achievement. Chris was a 3-sport star at Batesville High School, and despite his size, always played bigger than he really was. He only had one gear and that was wide open. Both of these young men, given enough time, will give their respective schools football programs that they will be proud of.last_img read more

Hassmer Fest To Celebrate Decade Of Mountain Biking

first_img(Image: Facebook)VERSAILLES — Hassmer Fest will celebrate 10 years of mountain biking at Versailles State Park with day and night bike riding, live music, a bonfire and camping from Friday, Sept. 26 through Sunday, Sept. 28.The event costs $25 for those who register in advance and $30 for day-of registration.Register here and enter “Hassmer Fest” into the search bar. The event also includes a tour of Hassmer Hill.Versailles State Park is at 1004 U.S. 50 in Versailles.last_img

Call resigns from council

first_imgMilan, IN—Milan Town Council president, Don Call has resigned his post effective immediately. Ripley County Clerk Ginger Bradford stated, “No reason was given for the abrupt departure.”  Bradford added, ” A Republican caucus will be held in the near future to select a replacement.”last_img

Fellaini to face no action

first_imgMarouane Fellaini will face no action from the Football Association after he was cleared of intentionally spitting at Sergio Aguero in Sunday’s Manchester derby. Fellaini clearly did not feel it was a foul and he bent down to shout at the Argentinian as he lay face down on the floor. TV replays showed that some spit appeared to exit the Belgian’s mouth as he unleashed his tirade at the striker, but after reviewing the incident the FA’s disciplinary panel believe it was not intentional. An FA spokesman confirmed the Belgian would not, therefore, receive any kind of retrospective punishment. Fellaini hit out at suggestions he had spat at the City striker, who scored the derby winner at the Etihad Stadium. The Belgium international tweeted: “The press loves to invent the stories when there aren’t any.” ”Thanks the journalist. #ferity #tospit.” United manager Louis van Gaal defended his player after the match on Sunday. “The TV has shown that he is shouting and sometimes when you shout there’s a little bit of saliva (that comes out) with it,” the United boss told a press conference. ”I don’t think that he’s a spitting figure.” Van Gaal’s opposite number Manuel Pellegrini said he was unaware of the incident when questioned post-match. United midfielder Fellaini and striker Aguero clashed in the first half of City’s 1-0 victory at the Etihad Stadium last weekend. Aguero tumbled to the floor after Fellaini kicked his standing leg and the hosts appealed for a penalty, which was not given. center_img Press Associationlast_img read more