Development Bank of Mongolia Announces Early Payment Before Maturity on JPY 30 Billion Samurai Bond

ULAN BATOR, Mongolia, May 13, 2022 (GLOBE NEWSWIRE) — Mongolian Prime Minister Oyunerdene Luvsannamsrai has instructed the Development Bank of Mongolia (DBM) to explore potential options, including an early payment, to settle its outstanding Samurai Bond obligations. Following this, the Bank says it will be able to further manage its future obligations and improve its overall debt profile. The move will reduce Mongolia’s general government debt as the sovereign guarantee on the bond will concurrently mature.

According to Mr. Manduul Nyamdeleg, CEO of DBM, the Bank is waiting on potential options to make an early payment on its first-ever Samurai bond of JPY 30 billion (US $231 million) before its maturity date of December 2023. DBM is the only policy-oriented financial institution in the country with a mandate to finance large-scale, strategically important development projects in Mongolia. DBM serves a unique role in the local economy by filling the gap created by the emerging domestic banking sector, which remains unable to finance large development projects. Since its inception in 2011, the Bank has financed energy, transportation, affordable housing, agriculture, processing factories and mining projects in the country.

Due to its policy nature and the Government backing, DBM has maintained a strong funding base with a longer tenure and lower cost compared to those of the commercial banks in Mongolia.

In 2013, the Bank issued Mongolia’s first-ever Samurai bond in the amount JPY 30 billion with a 10-year maturity and coupon rate of 1.52%. The guarantee from the Government of Mongolia and Japan Bank for International Cooperation (JBIC) made it possible to secure the long-term funding with a lower interest rate at the time. The proceeds from the bond have been used to finance affordable housing, processing factories, and agricultural projects in Mongolia.

Founded in 2011, Development Bank of Mongolia is wholly owned by the Government of Mongolia. Its principal objectives are ensuring sustainable economic growth in Mongolia, fostering value-added, export-driven production, and introducing financial solutions designed to implement Government development policies. As of May 10, 2022, total assets are MNT 4,196,004.38  million (US$1,351 million). Total loans and advances represent MNT 2,592,042 million (US $834.7 million), with the loan portfolio focusing on key sectors such as mining, agriculture and energy. Though the Bank was only established 11 years ago, it has successfully issued a number of notes in the international capital markets.

For more information, please contact: spilcher@atticuscomms.com

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ITA Airways Launches the Summer Season on the French Market With Eleven Daily Flights Between France and Italy at Roadshow Presentation in Paris

A Total of 72 Weekly Flights at the End of July

ITA AIRWAYS LAUNCHES THE SUMMER SEASON ON THE FRENCH MARKET WITH ELEVEN DAILY FLIGHTS BETWEEN FRANCE AND ITALY

Pierfrancesco Carino, VP International Sales at ITA Airways poses for a portrait at a press event at the Hotel Shangri-La on Thursday, May 12, 2022 in Paris. (Adrienne Surprenant/AP Images for ITA Airways)

PARIS, May 13, 2022 (GLOBE NEWSWIRE) — Yesterday, at the Shangri-La Hotel in Paris, ITA Airways, the new Italian national carrier presented the summer season on the French market to representatives of the press as well as to business partners in the French market. The Company aims to offer eleven daily flights between France and Italy by June, in order to meet the travel needs of tourists and business passengers.

ITA Airways which started operations on October 15, 2021, is an efficient and innovative air carrier that will be a reference point to provide Italy with quality connectivity with national, international and intercontinental destinations. ITA puts customers at the center of its strategy, thanks to a strong digitalization of processes that guarantees a first-class experience and personalized services, combining it with environmental sustainability (new green and technologically advanced aircraft, use of sustainable fuels) and the integration of sustainability into internal strategies and processes.

The development of the intercontinental network represents one of the Company’s main assets, a strategy that will also be consolidated thanks to the arrival at the end of May of the new latest-generation Airbus A350, which will join the Airbus A330 already in service with the fleet since the beginning of the summer season on long-haul destinations.

The expansion of ITA Airways’ routes for this summer focuses on the French market, which is the most strategic European market after Italy and the United States, as well as the one with the largest number of Italian-French. Indeed, ITA Airways’ program for the French market will be strengthened with an additional route between Paris CDG and Milan Linate from May 16, which completes the offer with three daily flights. In addition, we are also strengthening the connections between Nice and Rome – already operational – from 1 June, with a second direct flight to Rome Fiumicino.

Additionally, there are three daily flights to Rome Fiumicino from Paris CDG and the three flights from Paris Orly to Milan Linate, the city airport.

The launch of these new routes consolidates the expansion process in the French market, which aims to reach a total of 72 weekly flights between France and Italy by July 2022, for a total of 11 daily flights.

The multiple offers of the Rome Fiumicino hub will allow ITA Airways to be the reference carrier of the France to Italy and via Rome to Europe and the Mediterranean for the Italian community and the main communities of the Mediterranean countries.

From Paris-CDG and Nice airports, connectivity is guaranteed with the main Italian destinations: Alghero, Brindisi, Bologna, Bari, Cagliari, Catania, Gene, Milan-Linate, Naples, Olbia, Palermo, Reggio Calabria (from Paris-CDG only), Lamezia Terme, Turin, Trieste, Venice. From July, the destinations of Florence and Verona will be added to the network. From Paris-Orly, the national destinations accessible by Milan-Linate are as follows: Alghero, Brindisi, Bari, Cagliari, Catania, Naples, Palermo, Reggio Calabria, Lamezia Terme.

During the 2022 summer season ITA Airways will also offer the most popular Mediterranean destinations with new flights to the Italian islands, including Sardinia served by both Rome Fiumicino and Milan Linate. As well as seasonal flights, departing from Rome FCO and Milan Linate, during the month of August to Spain, Greece and Croatia, Lampedusa, Pantelleria; (destinations served: Corfu, Heraklion, Thessaloniki, Rhodes, Ibiza, Menorca, Majorca, Kefalonia, Dubrovnik, Split).

In addition to these five routes already operated to North America, a new destination from Rome Fiumicino to Los Angeles will be added in June, bringing Italy’s offer to the United States to a total of six daily flights.

The summer season will also see the addition of new flights from Rome Fiumicino to Buenos Aires and São Paulo from early June. These new routes will allow ITA Airways to expand into South America, which has always been a preferred destination for Italian holidaymakers and a country with the largest community of Italian origin.

The centrality of the French market in ITA Airways’ strategy is also reflected in the major marketing campaigns launched in recent months in Paris and Nice, with billboards in the main French stations and places of passage such as La Défense or the department stores of the Bd Haussmann.

The local presence is also ensured by ITA Airways’ France team who work with travel agencies, business partners and the web to ensure coverage of key customer segments, including business, leisure and affinity traffic.

Finally, thanks to a strong commercial partnership established with the main commercial partners and companies, ITA Airways ensures the complete distribution of its flights covering each passenger segment in France.

Launched in early March, ITA Airways’ 2022 summer season includes 64 new destinations, including 23 domestic, 34 international and 7 intercontinental. Through codeshare agreements with major international carriers, ITA Airways continues to grow its network through partnerships with other global carriers – providing a preferred route to the Company’s most attractive markets, first and foremost in Europe and America, but also in Africa and Saudi Arabia.

The codeshare agreements allow ITA Airways to join the entire national network of other international carriers with direct flights from Rome Fiumicino and Milan Linate to their hubs. A total of 24 codeshare agreements have been signed to date, for a total of more than 270 destinations served on which ITA Airways will use its own codes.

All ITA Airways flights can be purchased on the ita-airways.com website, from the ITA Airways call center or from travel agencies and airport counters.

Volare Programme
With a commitment to maximum customer orientation, ITA Airways launched on October 15, 2021 “Volare”, its new loyalty program, also accessible to French customers. It has been designed as an open ecosystem of services and products, made available by ITA Airways and its partners to ensure customers have a unique 360° travel experience. Since March, the program has been enriched with new features that increase its flexibility and ease of use and offer frequent travelers everything they could want from a program dedicated to them.

Volare expands its strength by relying on the four values on which it was developed: “Freedom”, “Personalization”, “Choice ” and “Login” :

Volare is a “tailor-made” program that consists of four exclusive clubs, on an ascending scale of increasing premium levels and dedicated priority services: Smart, Plus, Premium and Executive. With every purchase on ITA flights, customers can earn the points they need to upgrade to the next Club level and enjoy various premium benefits and services. In addition, from Club Smart, as the access threshold increases, the benefit to the customer also increases in terms of multipliers and services available.

Volare already has many members, both from Italy and abroad. To date, the program has over 361,500 members, of which over 40,000 are Elite members (i.e. Club Plus, Premium and Executive). This result is also important because it is consolidated on the international market: 35% of the participants in the Status Match campaign came from foreign companies.

About ITA Airways
ITA Airways is a company wholly owned by the Italian Ministry of Economy and Finance for the exercise of activities in the air transport sector. ITA Airways aims to create an efficient and innovative air carrier that will become a reference point to provide Italy with quality connectivity both in terms of international destinations, thus boosting tourism and foreign trade, and within the country, also taking advantage of integrated air-train mobility. ITA Airways will place the best customer service at the center of its strategy (thanks to a strong digitization of processes that guarantee a first-class experience and personalized services), combined with sustainability, in its environmental aspects (new green and technologically advanced aircraft, use of sustainable fuels), social (equality and inclusion for a non-sexist company) and governance (integration of sustainability into strategies and processes) aspects internal). ITA Airways has been a member of the SkyTeam alliance since October 2021.

For more information:
LaPresse SpA Communication and Press Office Director
Barbara Sanicola – barbara.sanicola@lapresse.it

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff07a172-0049-4115-b5ce-e324665ab1ea

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

For Eurovision, Turin and Piedmont Shows Their Vocation for Hospitality on Many Levels

FOR EUROVISION, TURIN AND PIEDMONT SHOWS THEIR VOCATION FOR HOSPITALITY ON MANY LEVELS

Music brings people together, even in the most challenging times. The Eurovision Song Contest, one of the most important international songwriting competitions globally, turns the spotlight on the touristic, cultural, and eno-gastronomic excellence of Turin and the northern-Italian region of Piedmont and the vocation of the region for the hospitality of different cultures.

TURIN, Italy, May 13, 2022 (GLOBE NEWSWIRE) — Music brings people together, even in the most challenging times. The Eurovision Song Contest, one of the most important international songwriting competitions globally, is not only an opportunity to turn the spotlight on the touristic, cultural, and eno-gastronomic excellence of Turin and the northern-Italian region of Piedmont and the vocation of the region for the hospitality of different cultures. Turin and Piedmont are also showing how they embrace populations having a moment of difficulty.

On the occasion of the Eurovision Song Contest, the Youth Symphony Orchestra of Ukraine arrived in Turin to perform at the Eurovision Village, in the beautiful Valentino Park, in collaboration with the European Commission and the European Parliament. The Orchestra was also welcomed in Palazzo Madama, a historic building that houses the Turin City Museum of Ancient Art. “We have been welcomed with great warmth, we feel good, and we love the fact of being here with you,” said Natalia Stets, director of the Orchestra, adding, “I think that Ukrainians and Italians are very close to each other: we share a big heart and a strong feeling of welcome.”

Founded in 2016, the Orchestra aims to develop Ukraine’s very young musical talents and is made up of boys and girls aged between 12 and 22 years old, from different cities, such as Odessa, Chernobyl, Kiev and Kalviv. The presence of the Orchestra shows how peace is a relevant part of the program of the Eurovillage, created by City of Turin and the Piedmont region on the occasion of Eurovision.

The village is open to citizens and free, with the exhibitions of over 200 artists, testimonials and activists. The idea was to represent in a closed space the rich environment of Torino and Piedmont made of culture and events, dealing with peace and human rights. The Eurovillage saw, on Europe Day, also the presence of the European Commissioner for Equality Helena Dalli.

Turin and the Piedmont Region proved again to be one of the most welcoming in the world, not only for Eurovision and not only for the many tourists. After the outbreak of the conflict, it welcomed 10 thousand Ukrainians and activated info centers giving detailed indications for families, individuals, or local authorities wishing to receive those fleeing the country.

For further info on the region, on its touristic and cultural initiatives: visitpiemonte.com.

For more information:
LaPresse SpA Communication and Press Office Director
Barbara Sanicola barbara.sanicola@lapresse.it

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2b0a5968-228f-4d29-9abd-f5dad1973a89

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

BPJS Kesehatan cooperates with BSI to facilitate subscription access

State-owned Healthcare and Social Security Agency (BPJS Kesehatan) cooperates with Bank Syariah Indonesia (BSI) to improve ease of access for National Health Insurance and Healthy Indonesia Card (JKN-KIS) members to pay subscription.

“Cooperation with BSI is the first form of cooperation that BPJS Kesehatan has forged with a sharia banking partner,” the agency’s Finance and Investment Director, Arief Witjaksono Juwono Putro, noted in a statement on Friday.

BSI, as the biggest sharia bank in Indonesia, plays a strategic role in the efforts to expand the JKN-KIS subscription payment channel and not just through the conventional banking channel.

“We expect that the auto debit service in BSI can be utilized as best as possible by all JKN-KIS members in Indonesia,” he stated during the cooperation signing event on Thursday.

This cooperation is also expected to become a solution for Aceh’s residents on account of the fact that the Aceh provincial government has implemented the Qanun Regional Regulation.

In accordance with the regulation, only sharia-based financial services are allowed to operate in Aceh.

Putro expects that the cooperation with BSI for providing the auto debit service also has a positive impact on the growth of JKN-KIS membership that had currently reaches more than 235 million people from the total population of Indonesia.

Moreover, it is expected to boost the collectability of subscription from the non-wage earner member segment.

“We thank BSI for having collectively maintained the sustainability of the JKN-KIS program,” he remarked.

The cooperation for the auto debit service complements several collaborations that had been forged with BSI.

Some of these collaborations encompass Supply Infrastructure Financing (SIF), JKN Caring Public Funding Innovation Program, and other collaborations established to improve the quality of service to JKN-KIS stakeholders.

The method for JKN-KIS subscription auto debit registration is easy. JKN-KIS members only need to bring along documents, such as savings book and identity card, and fill the auto debit power of attorney to be handed to bank tellers, he explained.

Thereafter, the amount will automatically be debited from the JKN-KIS members’ accounts on the fifth or 20th of every month.

The agency also proactively informs JKN-KIS members regarding the auto debit subscription payment method through the telecollection staff, he noted.

Moreover, the agency reminds JKN-KIS members to routinely check for sufficient money in their accounts to be debited, he stressed.

This effort facilitates members in paying for their subscription on time, increasing members’ compliance, and supporting the sustainability of the JKN-KIS program.

Source: Antara News

Mayor presents commendations to students on National Education Day

Mayor of Surabaya Eri Cahyadi presented commendations to student achievers and offered scholarships to memorizers of holy books during the National Education Day commemoration at Surabaya City Hall on Friday.

“In the last two years, so many challenges we faced together, which we never imagined before. Perhaps, we even had never imagined to solve them,” the Mayor said.

The two-year pandemic has provided many lessons, particularly in the education sector, with students learning through the online method, not just face-to-face, he added.

“Knowledge about the Internet is already common, and it’s more fun,” he said.

Through the Freedom in Learning Curriculum initiated by the Education and Culture Ministry, it is expected that there would be potential leaders in the future, who would be ready to answer to future challenges.

Cahyadi described it as one of the good things that emerged from the pandemic.

The mayor said he believes that every trial and tribulation from God provides lessons in the end. Therefore, on National Education Day, rewards were offered to Surabaya students with good academic achievements.

He said he expected their peers to also adopt the spirit and willingness to learn.

The Mayor further said he is confident that National Education Day would strengthen the spirit to improve the education sector in Surabaya city. Moreover, students no longer need to be concerned about the graduation exam because the National Assessment is not meant to burden teachers or students.

“By doing so, there’s a sense of comfort between teachers and students. With this education system, I am sure there will be extraordinary, talented leaders from Surabaya city,” he added.

Meanwhile, head of the Surabaya Education Office, Yusuf Masruh, appealed to all educators to stay motivated in guiding students. In any situation, they must keep their spirits up in educating the children, he said.

Although the pandemic is not fully over yet, Masruh stressed that they must still power through in guiding students, both in academic terms as well as in identifying students’ talents.

In the future, there would be education on character, he said adding, he is confident that good character would impact academic achievements in a good way.

The scholarship selection process for Friday’s event took place from May 9 to 11, 2022.

This year, at least 1,212 students from kindergarten, elementary schools, and middle schools made it through the selection process, becoming eligible for the scholarship. They comprised 680 Muslim children, 243 Christian children, 110 Catholic children, 120 Hindu children, 20 Buddhist children, and 29 Confucian children.

Source: Antara News

Charge those who kidnap Jakarta, Bogor children under TPKS: Maharani

House of Representatives Speaker Puan Maharani has called for charging the kidnappers of dozens of children in Jakarta and Bogor areas under the Sexual Crime Prevention Law (UU TPKS) since they sexually abused their victims.

“The perpetrators must be severely punished. They still have to be charged under the TPKS Law, which has been officially enacted, so that victims and their families get justice,” Maharani said on Friday.

She asked the police to punish the perpetrators under Law Number 12 of 2022 concerning the Crime of Sexual Violence (TPKS) since the examination showed the victims were sexually abused.

The TPKS Law, which was passed by the Indonesian House of Representatives on April 12, 2022, is designed to protect victims of sexual violence, including through the awarding of severe punishment to perpetrators, Maharani said.

“This case must be an example of the implementation of law enforcement by competent authorities in the field,” she added.

Severe punishment, according to Puan, is expected to have a deterrent effect on perpetrators as well as those who try to commit similar acts.

“This is a very serious matter for me. Children as the nation’s next generation must be protected from all forms of sexual violence,” she stressed.

Maharani highlighted that the perpetrators had violated many rules, including those related to child protection. She said that it was important to punish the perpetrators under the TPKS Law and Law Number 35 of 2014 concerning Child Protection.

“As a mother of two, it breaks my heart to hear that children are kidnapped and separated from their parents for days, especially when they receive news that their children are sexually abused,” she added.

She expressed the hope that the police will cooperate with the Ministry of Women’s Empowerment and Child Protection, the Indonesian Child Protection Commission (KPAI), and other policy makers for the recovery of victims. The trauma of victims must be healed as well as possible, she added.

“Make sure that this tragedy does not leave a trauma that affects the future of the child. It is our collective duty to protect the victims from experiencing prolonged psychological effects,” Maharani added.

Source: Antara News

Czech envoy: EU free and inclusive, not anti-China

Special Envoy of the Czech Republic to the Indo-Pacific, Ambassador Libor Secka, said that the European Union’s Indo-Pacific strategy prioritizes open and inclusive cooperation, including with China.

“The European Union adapts this cooperation according to specific areas where partners share common principles, values, or interests. There are two different types of partnerships. First, we work with partners based on common values. Second, we work with partners based on interests,” Secka said when met in Jakarta on Thursday.

The EU’s approach to the region is that the EU’s Indo-Pacific strategy and cooperation do not lead to China, he added.

“With China, the EU is working together based on interests. So, we can together strengthen our interests. For some countries, we work together based on values. So, the European Union is not anti-China. We are balanced and trying to find a way to communicate with China. I said that is another door that we open,” he said.

He acknowledged that China sometimes has different views from the European Union on international issues.

“The European Union Summit with China was held last April. We have relations with China. Many businessmen from European countries invest in China. The European Union has trade cooperation with China,” he noted.

Regarding the conflict in Ukraine, he said China has great influence and must do something to stop the conflict that is happening there.

“China has great instruments and influence. So, China must do something about the conflict in Ukraine,” he added.

The European Union and China held the 23rd bilateral summit via videoconferencing on April 1, 2022.

European Council President Charles Michel and European Commission President Ursula von der Leyen held a summit meeting with Prime Minister of China Li Keqiang, and then with Chinese President Xi Jinping.

European Council President Charles Michel said that as major global powers, the EU and China must work together to stop Russia’s war in Ukraine as soon as possible.

“We have a shared responsibility to maintain peace, stability, and security,” Michel was quoted as saying on the European Commission’s official website.

Meanwhile, von der Leyen underlined that Russia’s invasion of Ukraine was not only a defining moment for the EU, but also for its relations with the rest of the world.

“There must be respect for international law, as well as for Ukraine’s sovereignty and territorial integrity. China, as a permanent member of the UN Security Council, has a special responsibility,” von der Leyen said.

Source: Antara News

Policy normalization will be done at appropriate time: BI

Bank Indonesia (BI) will carry out policy normalization or the exit strategy at the appropriate time, Senior Deputy Governor of BI, Destry Damayanti, said on Friday.

“Premature policy normalization will be very risky for economic recovery and the financial sector. However, if it is done too late, it could also cause faster macro risk acceleration,” she explained at an online event held to launch the Financial System Stability Review Book.

However, Bank Indonesia, along with the government and related authorities, will continue to maintain the momentum of economic recovery by bolstering synergy within the national policy mix framework.

“From the fiscal standpoint, the importance of policy support for economic recovery will be strengthened by the state budget’s strategic role as a shock absorber in maintaining the economic wheel and purchasing power, especially of the most vulnerable groups,” Damayanti said.

Meanwhile, in the financial sector, the government’s support can be seen from several policies, including credit restructuring, which has significantly benefited the people.

“Through the measured policy mix, Bank Indonesia will take normalization policy, which is expected to not halt economic recovery,” Damayanti said.

To encourage economic recovery, Bank Indonesia is also bolstering government policies.

An example of this is the provision of incentives in the form of the Giro Reserve Requirements (GWM) relaxation for banks channeling credit to micro, small, and medium enterprises (MSMEs) and priority sectors.

Incentives are also being provided to banks relaxing the Loan to Value (LTV) ratio.

“BI will also continue to strengthen the prime lending rate transparency policy to encourage credit fee intermediation and efficiency for the business world,” she informed.

During the event, BI Governor Perry Warjiyo unveiled the Financial System Stability Review Book No. 38, March 2022 edition, themed “Synergy and Innovation to Expedite Intermediation Recovery and Maintain Financial System Resiliency.”

Source: Antara News