Eddie Irvine heads for Silverstone

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Inner city

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In the zone

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Local knowledge

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Indonesia joins tender to build 1,050 train cars for Bangladesh

first_imgIndonesia has expressed interest in developing railway infrastructure in Bangladesh by joining a tender for the export of 1,050 train cars to the South Asian country.State-Owned Enterprises (SOE) Minister Erick Thohir welcomed Bangladeshi Railways Minister Md. Nurul Islam Sujon in Jakarta on Thursday to discuss opportunities for Indonesia to join the railway project.The president directors of state-owned firms likely to be involved in such a project also attended the meeting. They represented electronic equipment maker PT Len Industri, train manufacturer PT Industri Kereta Api (Inka) and railway operator PT Kereta Api Indonesia (KAI). “Certainly, this is part of our efforts to develop train industries not only inside the country but also to supply other countries, like Bangladesh,” Erick said.Erick estimated that the railways partnership with Bangladesh had generated US$181.6 million in revenue since 2005. The Bangladeshi minister said Bangladesh and Indonesia were “good friends” and highlighted the fact that both countries had large Muslim populations.The Philippine state railway operator is using two trains made by Inka to serve customers in Makati city, the financial hub of metropolitan Manila. Inca is also set to deliver 30 electrodiesel locomotives worth $91.3 million to Zambia based on a contract signed in January 2018.The state-owned train manufacturer said last year it was expecting to sign Rp 7.2 trillion ($506 million) worth of order contracts in 2019, including for exports of rolling stock to African and Asian countries. “We are not only seeking a business-to-business partnership but also want to help train [workers from Bangladesh] to support our partnership,” Erick told reporters after the meeting in Jakarta.Read also: Trains made by Indonesian state firm to serve commuters in Philippines The move marks yet another effort to push local trainmakers onto the global market. Last year, Inka sent 15 train cars to Bangladesh, part of 250 to be shipped in total, after the company exported 200 train cars to the country in 2006 and 2016. Topics :last_img read more

Bourse announces new trading suspension policy on brink of bear market

first_imgThe JCI has lost 17.12 percent of its value so far this year, with foreign investors selling Rp 7.12 trillion worth of stocks more than they bought during the period. The index crashed 6.58 percent to a three-year-low on Monday amid fears over the spread of COVID-19 and the ensuing oil price war between oil titans Saudi Arabia and Russia.It now tiptoes on the brink of a bear market as the index has fallen almost 21 percent from its record high in January 2018.The JCI closed Tuesday’s session with a 1.64 percent jump on Tuesday and opened 0.54 percent higher at 5.249.27 on Wednesday. Stocks of state-owned Bank Rakyat Indonesia (BRI) and Bank Mandiri jumped by more than 1 percent in the early session.Read also: Panic selling hits Indonesia, Philippine stocks set for bear runThe issuance of the new policy is part of a series of efforts to calm the market. On Monday, the IDX issued a new auto-rejection regulation that capped stock prices falling to a maximum of 10 percent for stocks at all price ranges from a variation of 20 percent to 35 percent depending on the price range. The policy came into force on Tuesday.The bourse also decided to temporarily halt short selling on Monday until further notice to help anchor the index. It stops publishing the list of stocks available for short selling and advises brokerage firms to refuse short sell requests from their clients.Short selling is an investment or trading strategy that speculates on the decline in the price of a particular stock or other security. It is often used by investors and portfolio managers as a hedge against the downside risk of a long position in the same security or a related one.On Monday evening, the OJK also announced it would allow listed companies to buy back shares up to 20 percent of paid-up capital without a prior shareholders meeting to ease market volatility. “This is as an effort to stimulate the economy and reduce the impact of the significantly fluctuating market,” the OJK said in a statement.State-Owned Enterprises (SOEs) Ministry spokesperson Arya Sinulingga told reporters on Tuesday that a total of 12 state-owned companies would buy back shares worth around Rp 7 trillion to Rp 8 trillion. “A few state-owned enterprises believe that their fundamental value exceeds the transaction value in the market,” Arya explained, adding that the buyback had started. (ydp) Topics : Read also: Indonesian bourse caps stock drops at 10% as equities start to rebound after bruising day“In order to maintain orderly, fair and efficient stock trading, it is deemed necessary to change trading halt guidelines on the Indonesia Stock Exchange,” the bourse’s statement reads.Under a 2012 IDX board of directors decree, the bourse can halt stock trading in an emergency situation, such as a natural disaster, political emergency, technological and infrastructure disruptions as well as steep declines in the JCI.The decree stipulates that if the index plunges 10 percent, the bourse will halt trading for 30 minutes. If the decline continues to 15 percent after the first suspension, the IDX will stop trading for an entire session or longer with approval from the Indonesian Capital Market and Nonbank Financial Institutions Supervisory Agency (Bapepam-LK), now the OJK.center_img The Indonesia Stock Exchange (IDX) has announced a new trading suspension policy amid a volatile domestic equity market following the spread of the coronavirus and the ensuing oil price war.In the policy, made public on Tuesday evening, the bourse will halt stock trading for 30 minutes if the main gauge, the Jakarta Composite Index (JCI), falls by more than 5 percent. If the index keeps falling to more than 10 percent after the first suspension is lifted, the bourse will halt trading for another 30 minutes.Trading will be stopped for the whole session if the JCI continues to plunge deeper than 15 percent. The suspension can last for more than one day with approval or upon instruction from the Financial Services Authority (OJK).last_img read more

COVID-19: Hundreds of boxes of masks stolen from West Java hospital

first_img Awie added that the facility currently had 60 boxes left, which would be enough for the next several days. The financial loss caused by the theft is said to be around Rp 100 million (US$ 6,100).Read also: COVID-19: Government to distribute 100,000 protective equipment to medical workersCianjur Police chief Adj. Sr. Comr. Juang Andi Priyanto said his team was currently investigating the matter.“We have questioned a number of witnesses, including hospital workers, security guards and parking attendants. We hope to solve the case as soon as possible,” he said. The COVID-19 pandemic has put a massive strain on Indonesia’s healthcare system, with increasing reports of inadequate medical supplies and the deaths of hospital workers as patient numbers continue to surge. (aly)Topics : A total of 470 boxes of surgical masks have reportedly been stolen from Pagelaran General Hospital in Cianjur, West Java.“When we checked the supply [of masks] for January to March, we found that 470 boxes were gone, 200 of which were supplies for February,” director of the hospital Awie Darwizar said on Tuesday as quoted by Antara News Agency.He said the masks had been prepared for medical workers at the hospital to treat COVID-19 patients.last_img read more

Virus breaks the mold for telework in office-bound Japan

first_img‘It’s actually nice’But the spread of the new coronavirus has forced employers and workers to give telework a try in Japan, and Sato for one has been pleasantly surprised.”Unlike I’d expected, it’s actually nice. Much easier than going to the office,” said Sato, who has been working at home since February when the government began asking workers to telework to avoid spreading the new coronavirus.He works for a Tokyo start-up, Phybbit, which offers services to counter digital fraud, and had never before tried working from home.”This experience has completely changed my image of teleworking,” he told AFP in the small office he has set up in the family home he shares with his wife and two children.For a start, it saves him two hours of commuting a day, meaning he has more time with his daughters, whose schools are currently closed.”I can also give them their bath in the evening, something I could never do during the week before because I was never home before 8pm.”Sato’s wife Hitomi takes primary care of their daughters, six-year-old Yurina and four-year-old Hidano and said she has welcomed the helping hand at home.”I’m glad that he’s here, and the girls are happy to spend time with their dad,” she said.The Japanese government has renewed its push for teleworking and off-peak commuting in recent years, hoping to ease the burden on the notoriously congested Tokyo public transport system, particularly ahead of the Olympics.But there hasn’t been much enthusiasm.  Experts say part of the challenge is the social stigma attached to deviating from the “salaryman” stereotype of the suited-up office worker who proves his dedication by spending long hours at his desk.Polls show “the Japanese still have this image that telework isn’t real work because you’re not physically in the office,” said Haruka Kazama, an economist at the Mizuho research institute.That’s a view familiar to Yuki Sato, 35, currently experimenting with teleworking for the first time.”The image of going to the office is very strong. You have to show that you work hard and long hours and that you help your colleagues,” Sato told AFP. The longstanding stereotype of Japan’s office-bound “salaryman” is being tested as companies cautiously embrace working from home in a bid to stem the spread of the coronavirus.Japan’s government has for years been trying to encourage firms to implement “flexible working patterns”, hoping that less demanding office hours will help women return to work after having children and men share more housework and childcare.But uptake has been slow. A survey published last year found around 19 percent of companies offered a telework option, but just 8.5 percent of employees polled had tried it out. ‘Mindsets are changing’ Kunihiko Higa, a professor at the Tokyo Institute of Technology who specializes in flexible work options, attributes that to reluctant managers.Many of them “consider teleworking only as a tool for workers,” he told AFP. “In other words, they don’t understand that teleworking, if used in the right way, can be a management strategy tool.”The coronavirus outbreak appears to have achieved what government campaigns could not, forcing the hands of firms who may previously have been reluctant.”The situation has put their backs against the wall. They’ve been forced to give their employees the choice to telework,” said Kazama.A poll carried out at the end of February by the Keidanren business association of nearly 400 major firms found nearly 70 percent had already begun implementing teleworking or were planning to because of the pandemic.The switch hasn’t been universal. Workers still cram onto commuter trains — albeit in smaller numbers — and Japan’s parliament is hardly setting the tone, continuing to hold sessions and ministerial press conferences.And there is no guarantee yet that companies will continue to allow teleworking when the crisis eases.But experts said being forced to try teleworking was likely to leave a lasting impact in Japan, with companies beginning to see working from home as a feasible and even attractive option.”I think mindsets are changing,” said Kazama.center_img Topics : “With telework, we can’t show our goodwill and motivation,” he added.last_img read more

East Java policeman investigated for allegedly deceiving man into gay relationship

first_imgEast Java Police spokesperson Sr. Comr. Trunoyudho Wisnu Andiko said on Monday that they would probe the allegations of deception against the police officer, as well as his sexual activities.”The investigation is under way,” Trunoyudho told The Jakarta Post.Read also: Bedroom bill: Proposed ‘family resilience’ law would require LGBT people to report for ‘rehabilitation’Previously, Probolinggo Police chief Adj. Sr. Comr. Ferdy Irawan said that the unit’s internal affairs division had launched an investigation as a result of the allegations, tribunnews.com reported.However, Trunoyudho said the East Java Police decided to take over the case because they had better cybercrime unit facilities to trace the Facebook post, which has since been taken down by the user.Although homosexuality is not illegal in Indonesia, sentiment against the lesbian, gay, bisexual and transgender (LGBT) community has persisted in the country over the years, including in the police force.Last year, Central Java Police dismissed a 29-year-old gay policeman because of his sexual orientation. The Semarang State Administrative Court later rejected his lawsuit against his dismissal.Topics : The East Java Police have launched an investigation into a police officer suspected of having deceived a man into a same-sex relationship after photos depicting them being intimate with each other were published on Facebook.A Facebook account named Bayuangga Probolinggo recently posted photos that purported to show the policeman, an officer with the Probolinggo Police, hugging and kissing another man.The Facebook account published a post seemingly written by the other man, in which he claimed that the officer had promised to help him join the police force in exchange for a sexual relationship. The officer, however, reportedly broke his promise and threatened the man, prompting the latter to seek help and publish the photos.last_img read more

Indonesian airlines resume domestic passenger flights with strict health protocols

first_imgSeveral Indonesian airlines have resumed domestic passenger flights following a letter from the COVID-19 task force allowing certain people to travel despite government travel restrictions. Service will be reopened gradually this month.  Garuda Indonesia officially resumed domestic passenger flights on Thursday after suspending them in compliance with the government’s large scale social restrictions (PSBB). The national flag carrier has implemented augmented health protocols. “Flight reservations can be accessed through all ticket channels of Garuda Indonesia,” the airline’s president-director Irfan Setiaputra said in a statement on Thursday. He added that the company would remain in regular contact with authorities to support the fight against COVID-19. Garuda Indonesia will require passengers to provide ground staff with medical letters from hospitals stating that they are COVID-19 negative. The airline will also require state officials to provide documents, including official letters of duty, employee IDs and letters explaining the purpose of travel. Read also: Garuda Indonesia to test passengers for COVID-19Lion Air, Wings Air and Batik Air ‒ members of the Lion Air Group ‒ will resume domestic passenger flights on Sunday. Tickets for these airlines are available at their counters, call centers and official websites. “[We will apply] the physical distancing policy in the cabin by omitting middle seats in the three-seat configurations in economy class. The passengers will either be seated by the window or by the aisle. “Meanwhile, in the business class with two-seat configurations, we will apply a zig-zag seating arrangement,” said Danang Mandala Prihantoro, Lion Air Group corporate communications strategic officer, in a statement on Thursday.The Lion Air Group will perform pre-flight health checks and worthy-for-flight tests on crew members prior to departure. Transportation Minister Budi Karya Sumadi said on Wednesday that it would possible for the government to allow all modes of public transportation to resume operation on Thursday to accommodate particular individuals while maintaining the ban on this year’s Idul Fitri mudik (exodus).Topics :last_img read more