Irwan Serigar proposes reviving GST at lower rate to cover budget deficit
Former Treasury secretary-general Irwan Serigar Abdullah has proposed that the government revive the goods and services tax next year at a lower rate.He said this will help the government increase revenue to cover an increase in the budget deficit brought on by the Covid-19 crisis and subsequent stimulus packages issued by the government."The deficit will increase, maybe to 4.8 percent or 5 percent [...] but we have ways to reduce the deficit for coming years if we take measures to increase (government) revenue."I propose that the GST be brought back next year so that we don't rely too much on...
Russia’s low rate of coronavirus infections means few fear pandemic
Russia seems to have been largely spared from the global coronavirus pandemic, with official statistics recording just over 1,000 confirmed cases and four COVID-19 deaths since the start of the outbreak. The low figures mean that few Russians feel the need to protect themselves. FRANCE 24 reports from Moscow.Since the start of the coronavirus pandemic, Russia has reported an astonishingly low rate of coronavirus infections, reporting just 1,000 confirmed casesamong its population of 144.5 million. And for most Moscow residents, it is business as usual, with few people seen wearing face masks o...
India's central bank slashes interest rates as virus spreads
Mumbai (AFP) - India's central bank cut interest rates sharply Friday as the coronavirus outbreak deepens fears for Asia's third largest economy, which was already battling a prolonged slowdown. The move, which came ahead of the bank's scheduled meeting next month, followed similar measures around the world as finance chiefs struggle to stave off what could be the worst economic crisis in decades.As manufacturing activity and consumption grinds to a halt under a lockdown, the Reserve Bank of India (RBI) said the benchmark repo rate -- the level at which it lends to commercial banks -- would b...
SM Prime issues P15 billion bonds
SM Prime issues P15 billion bondsIris Gonzales(The Philippine Star) – March 27, 2020 – 12:00amMANILA, Philippines — Property developer SM Prime Holdings Inc. has issued P15 billion worth of fixed rate bonds.The five-year and seven-year fixed rate bonds fetched annual interest rates of 4.8643 percent and 5.0583 percent, respectively.Proceeds will be used to beef up SM Prime’s war chest to fund its expansion projects for the year, including new malls and a 600-hectare reclamation project in Pasay.SM Prime had planned to borrow a total of P100 billion over a three-year period.The company is plann...
BoT holds key rate steady
The Bank of Thailand kept its policy rate unchanged on Wednesday after last Friday’s unscheduled rate cut of 25 basis points, while trimming its economic growth forecast for 2020 to a 5.3% contraction.The Monetary Policy Committee (MPC) voted 4-2 to hold the policy rate at a record low of 0.75%, said MPC secretary Titanun Mallikamas.The rate-setter agreed that fiscal policy should be a main tool to alleviate the impacts from Covid-19 spread, he said.The central bank late Friday slashed the rate by a quarter percentage point, saying the impact of the coronavirus would be more severe than previo...
The Bangkok Post
Group decry increasing rate of drug abuse among youth
Drug abuse prevalent in NigeriaAn Enugu-based group, Society for the Improvement of Rural People (SIRP) have expressed dismay at the rising wave of drug abuse among the youth in the country.According to the News Agency of Nigeria, NAN, the Program Manager of the organisation, Mrs. Evelyn Joseph, said this in Enugu on Friday at a two-day media training organised by the Society and funded by United Nations Office on Drugs and Crime (UNODC)Speaking on the theme of the training: Response to Drugs and Related Organised Crimes in Nigeria; the SIRP Program Manager urged parents to create enough time ...
Seven Tides offers special rates on offices
Dubai: Seven Tides is having a special promotional rate for new business tenants at The Offices at Ibn Battuta Gate. Tenants can secure a 12-month leasing agreement in a range of flexible open-plan, ready-to-move-in spaces at a reduced rate of Dh90 per square foot for units 1,000 square feet and under.All leasing contracts are fully inclusive of utilities such as DEWA and cooling charges as well as Mpower plus service charges.Occupancy is currently at 78 per cent out of a total of 467 units. Currently, 40 per cent of the office space is leased by general trading companies, 20 per cent by techn...
China to Lagos, the frightening timeline of a deadly virus
CoronavirusBy Olusegun FaforeFatality rate across the globe since the outbreak of Coronavirus (COVID-19) in the Chinese town of Wuhan on December 31, 2019 has signalled that this is not the best of times for humanity. With about 8, 988 deaths and 220,877 people infected in 176 countries since the first death was recorded in China on January 11, 2020, the pandemic has boisterously announced its immensity.Frighteningly, the virus claims human lives daily while science is still struggles with an absolute response to the scourge. More than before, humanity has become vulnerable, and at the mercy o...
Bank of Thailand cuts key rate by 25 bps in special meeting
The Bank of Thailand cut its key interest rate by 25 basis points to a record low of 0.75% in a special meeting on Friday, it said in a statement.The Committee viewed that the Covid-19 outbreak in the period ahead would be more severe than previously expected and the situation would take some time before returning to normal. This would severely affect the Thai economy, the statementsaid.The outbreak resulted in concerns among global financial markets, affecting liquidity and the functioning of Thai financial markets despite overall stability of the financial system, it said.The new rate was se...
The Bangkok Post
Friendly Fire Friday: Julie & Mike rate Murphy’s crisis management
Can Americans still have a sensible and friendly political discussion across the partisan divide? The answer is yes, and we intend to prove it. Julie Roginsky, a Democrat, andMike DuHaime,a Republican, are consultants who have worked on opposite teams for their entire careers yet have remained friends throughout. Here, they discuss the week’s events with Tom Moran, editorial page editor of The Star-Ledger.Q. Let’s start with the virus. I visited Holy Name Hospital in Teaneck, the hot spot, on Wednesday and saw heroic people working non-stop. But if this wave doubles or triples, as expected, th...