Category: Trading

The Labor Party’s Executive Committee has expressed optimism that the party is able to meet the administrative requirements of the General Elections Commission’s (KPU’s) fact-checking process to enable it to be enlisted as a participant of the 2024 General Election.

Here, on Friday, President of the Labor Party Said Iqbal stated that the party had readied most of the requirements to clear the verification process, including aspects comprising management at the central, provincial, district, and sub-district level as well as the number of members.

According to KPU’s regulation, the Labor Party should have management in the entire province, with 75 percent from the number of districts or cities in each province and 50 percent from the number of sub-districts in each district or city.

The other important requirement is that the Labor Party should have at least one thousand members, or 1/1,000 of the number of residents in the party’s management at the district or city level.

This membership should be proven with the possession of membership card (KTA) and citizenship card (KTP).

Iqbal stated that the Labor Party had operators working in 34 provinces. Of the total 514 districts or cities, the Labor Party has management in 409 districts or cities.

Furthermore, the Labor Party also has management in 1,650 sub-districts out of the targeted 3,621 districts.

Iqbal added that the number of Labor Party members has exceeded the minimal requirement.

“We have members spread out across 409 districts or cities, with one thousand each,” he clarified.

He highlighted that the number of Labor Party members in industrial cities, such as Greater Jakarta (Jakarta-Bogor-Depok-Tangerang-Bekasi or Jabodetabek), is more or less 100 thousand to 200 thousand people.

To fulfill the remaining requirements, the party still has less than 10 months until the deadline for the registration verification projected to be on August 11, 2022.

Source: Antara News

The Financial Services Authority (OJK) has disseminated six tips so that people do not fall victim to fake financial technology companies, many of which have come under scrutiny lately.

“This way, it is expected that illegal financial technology (services) can be eliminated,” OJK’s digital financial innovation group analyst, Kurniatul Khasanah, said on Friday.

First, people should understand the benefits provided by a financial service and the purpose of registering for the service prior to registration, he advised.

After that, they must check the legality of the company, he said. One way to do this is to check whether the company is registered with the Financial Services Authority, he pointed out.

If the legality of the financial technology service provider company is confirmed, people must read and understand the terms and conditions provided by that company, Khasanah said.

Prospective users should also research the company’s performance and reputation, he added.

To anticipate future problems, it is also important to check whether the financial technology company has an easily accessible complaint channel which provides a response, he advised.

The Financial Literacy and Inclusion National Survey (SNLIK) conducted by the Financial Services Authority in 2019 had pegged the national financial literacy index at 38.03 percent, he noted.

On the other hand, the financial inclusion index was at 76.19 percent, he added. The indicators showed an increase compared to 2016, when the financial literacy index was recorded at 8.33 percent and financial inclusion index was at 8.39 percent, he said.

Despite the positive trend, the level of public awareness regarding digital finance and financial inclusion is still relatively low, Khasanah added.

In the same survey, only 36 percent of the approximately 12 thousand respondents knew about digital financial services, he said.

Moreover, only 31.26 percent of the respondents had used digital financial services, while 68.74 percent had never used digital financial services, he noted.

Those who had never used digital financial services claimed that they did not need them, did not understand them, or did not believe in them, he added.

Source: Antara News

Bank Indonesia (BI) has forecast the consumption of global Muslim fashion to climb to US$311 billion in 2024, while the figure merely reached US$277 billion in 2019.

“As for Indonesia, the spending on the Muslim fashion sector in 2019 had reached US$16 billion and is among the top five countries, with the highest spending, after Iran, Turkey, Saudi Arabia, and Pakistan,” BI’s Director of the Department of Sharia Economics and Finance Bambang Himawan stated during the 2021 ISEF Kick Off Online Exhibition Press Conference in Jakarta on Friday.

Himawan stressed the importance of developing the national Muslim fashion sector, so that it can penetrate the global market.

The central bank is collaborating with various strategic partners to encourage the development of Indonesian halal products, such as Muslim fashion, through various e-commerce platforms to hold exhibitions, which are also part of the 2021 Indonesia Sharia Economic Festival (ISEF) event.

Himawan noted that the Muslim fashion sector, which is the flagship in Indonesia’s halal industry, managed to rank third in the world during the second quarter of 2021.

“Rapid development shows the urgency of developing the halal industry in the framework of a comprehensive Islamic economy and finance to support the national economic recovery,” he remarked.

He believes that Indonesia should be able to develop a halal industry that can both serve the needs of the domestic market as well as capitalize on the global market.

BI remains committed to developing the halal industry sector that employs a halal value chain ecosystem approach that includes five main sectors: integrated agriculture, halal food, Muslim fashion, halal tourism, and renewable energy.

He highlighted that halal food and Muslim fashion could be the leading sectors to drive national economic recovery.

Thus, the central bank also hosted the Indonesian Sharia Creative Industry Program, wherein during the second quarter of 2021, the organization had 505 business members across Indonesia, with membership comprising MSMEs in the halal food and Muslim fashion sectors.

Source: Antara News

The Women’s Empowerment and Child Protection Ministry will be the chair and host of the 4th ASEAN Ministerial Meeting on Women (AMMW), which is scheduled to be held from October 11-15, 2021.

“This is the right momentum to create opportunities, start dialogue and diplomacy to jointly build collaborations with various countries in supporting women’s empowerment and gender equality, especially in relation to digital economy and financial inclusion,” Women’s Empowerment and Child Protection Minister Bintang Puspayoga said here on Thursday.

The 4th AMMW symbolizes the regional grouping’s commitment to realizing gender equality and empowering women, she added. The event will be themed ‘Digital Economy and Financial Inclusion for Improving ASEAN Women’s Competitiveness’.

She said the ministry has carried out several activities and pre-trial coordination meetings involving the ASEAN Secretariat, the Government of Vietnam, which is the chair of AMMW, and related ministries and institutions.

“In addition, we have also collaborated with academics, NGOs, and the business world to enliven the AMMW side event series with webinars and exhibitions of women’s MSME products,” the minister added.

The 4th AMMW session will be attended by the Women’s Affairs Minister and members of the ASEAN Committee on Women (ACW), who are high-ranking officials in the women’s affairs ministries of all ASEAN member countries, she said.

“This meeting is very strategic because Indonesia will only be the host, and the AMMW chair makes its return in the next 30 years,” Puspayoga said.

The meeting will feature five series of sessions, starting from October 11, 2021, which will discuss cooperation programs for resolving women’s issues and facilitate the exchange of practical experiences within the theme of digital economy and financial inclusion, she disclosed.

The five series of activities are the 20th ACW Meeting, 13th ACW+3 Meeting, 23rd ACWC Meeting, 8th ACWC – ACW Consultation Meeting, and 4th AMMW, she informed.

“At the 4th AMMW session on October 15, 2021, the ministers will discuss the theme ‘Digital Economy and Financial Inclusion for Improving ASEAN Women’s Competitiveness’. The meeting is expected to produce a Joint Statement of the 4th AMMW Meeting,” the minister added.

Source: Antara News

The Mandalika circuit, which is expected to host global-level events, will help promote tourism sustainability in Mandalika Special Economic Zone in Lombok, West Nusa Tenggara and its surrounding areas, the Deputy Minister of State-Owned Enterprises said.

“We hope, of course, that this is not something that is just for a moment, not just project based, not just once in a while, but we really hope that with the construction of the Mandalika international circuit, it will become an annual cycle that can be followed by various other activities,” Pahala Nugraha Mansury said at a virtual press conference originating from Jakarta on Thursday.

He said the targets for peak events at Mandalika are MotoGP and World Superbike, but throughout the year, as seen from November 2021 to March 2022, it is expected that other international events will also be held in the Mandalika Special Economic Zone.

“Thus, (the circuit) can garner people’s (interest). As I have said about the MotoGP event, every grand prix is watched by more than 400 million people in the world. So, we hope that this can also push the global community to know that there are many tourist destinations in Indonesia,” he added.

The circuit is expected to encourage foreign tourists to visit Indonesia and also get domestic tourists to come to West Nusa Tenggara, which is one of the five super-priority destinations proclaimed by President Joko Widodo, Mansury said.

“I think that tourism is not only providing infrastructure, culture, and experience in these destinations, but also various other experiences. Including the experience of watching MotoGP races or other events that can be held there,” he added.

“We hope that this is all our effort to realize how Lombok as one of the super-priority tourism destinations can really be developed in the future,” he said

Mansury, West Nusa Tenggara Governor Zulkieflimansyah, and some directors of state-owned companies unveiled the official name of the Mandalika international circuit –Pertamina Mandalika International Street Circuit– on Thursday.

Member of Committee X of the House of Representatives, Andreas Hugo Pareira, said that the Mandalika International Circuit, which is being prepared for the MotoGP event, has had a multiplier effect on the development of the Mandalika SEZ and the welfare of the people in Lombok, NTB, and its surroundings.

Pareira said the Mandalika SEZ is a tourism complex with adequate area and is supported by all existing facilities.

The Mandalika Circuit is expected to push the development and promotion of tourism in the Mandalika SEZ, Lombok, in particular, and Indonesia, in general, he added.

Source: Antara News

The ASEAN+3 Macroeconomic Research Office (AMRO) estimates that the ASEAN+3 region will grow by 6.1 percent this year and five percent in 2022 after posting flat growth in 2020.

The ASEAN+3 Macroeconomic Research Office (AMRO) on Thursday (Oct 7) published the Update to its annual flagship report, the ASEAN+3 Regional Economic Outlook (AREO) 2021.

Earlier in March, the AMRO had forecast that the ASEAN+3 region would grow by 6.7 percent in 2021 and 4.9 percent in 2022, after shrinking slightly by 0.2 percent in 2020.

AMRO’s Chief Economist, Hoe Ee Khor, stated that the research office was updating its annual report due to the third wave of COVID-19 triggered by the Delta variant.

ASEAN countries are currently struggling with the third wave of the coronavirus, he pointed out.

“The road to recovery is paved by vaccinations,” AMRO Chief Economist, Hoe Ee Khor, stated at the virtual launch of AMRO’s Annual Report Update titled “ASEAN+3 Regional Economic Outlook (AREO 2021)” monitored in Jakarta, Thursday.

“With most regional economies on track to achieve their vaccination targets by early 2022, we expect the ASEAN+3 region to grow by five percent next year, slightly better than our March projections,” Khor remarked.

The chief economist believes that the region’s rapid progress in vaccinations will be a game changer for containing the virus and gives cause for cautious optimism.

According to Khor, a year and a half into the pandemic, the goal of achieving herd immunity and protection from the virus through mass vaccinations is becoming a reality for the region even while infections have evolved from a pandemic into an endemic state.

The combination of efficacious vaccines and treatments in addition to greater adeptness at targeting containment and support policies are fueling optimism and providing greater clarity on what a post-pandemic “new normal” could look like, he emphasized.

Khor stated that the pandemic had altered the way businesses and consumers transact, accelerated digitalization, and led to the emergence of new business models and types of firms.

Source: Antara News

East Java’s Christopher Rungkat and David Susanto secured a gold medal in the men’s tennis doubles at the Papua National Sports Week (PON) XX after defeating West Papua’s Achad Imam Ma’ruf and Tio Juliandi Hutauruk.

Rungkat-Susanto claimed victory with a score of 6-2, 6-3 against Ma’ruf-Hutauruk in the final round of the men’s doubles, held at Sian Soor Tennis Center, courtyard of Jayapura Mayor’s office, on Thursday.

“It is as I and David (Susanto) expected. We came to the field full of confidence that we can win in the final today after winning in the previous rounds,” Rungkat remarked after the match.

Rungkat billed his performance with his partner in Thursday’s match as their finest at Papua PON. Therefore, he said he was quite satisfied with his performance in the final. He said that his opponents, Ma’ruf-Hutauruk, were also quite confident, considering the pair had managed to defeat top players Muhammad Rifqi Fitriadi and Anthony Sutanto in the first round.

“I saw them in the second round and in the next playing quite confidently … And the service from Imam (Ma’ruf) was quite solid today, his presentation was also quite high, and Tio (Hutauruk) was also pretty solid in front of the net,” Rungkat commented.

“I believe that these two young players have potential going forward,” he added.

Concurring with Rungkat, Susanto said that the pair had targeted to win gold in the men’s doubles since the beginning.

“We have expected gold, so we are already confident from the beginning. In terms of performance, we were quite solid from the outset,” he remarked.

Susanto also competed in the men’s singles. However, he had to bow out after losing to West Papua’s Muhammad Althaf Daifulla Albaihaqi in the semi final.

Source: Antara News

Communication and Informatics Minister Johnny Gerald Plate on Thursday reviewed telecommunications services at the Papua National Sports Week (PON) XX, which has run for a week.

“One of the success factors of the implementation of XX Papua PON is the support of 5G experience carried out by Telkomsel at the Communication and Informatics Ministry (Kominfo) Media Center,” he said while visiting the media center in Jayapura district, Papua, according to a press statement released the same day.

The 5G service used by the Kominfo Media Center makes information about the event available throughout Indonesia, he noted.

“The services provided at the four Kominfo Media Centers (at Merauke district, Mimika district, as well as Jayapura district and city) are going well. The news about XX Papua PON is also distributed well nationally,” the minister said.

Furthermore, he said he expects information about the national sporting event to also reach neighboring countries.

“Thus, Papua PON XX can be an example to implement a huge national event in the midst of the pandemic properly—it is the thing that we hope for together,” he remarked.

In addition to preparing facilities and infrastructure to support the Papua PON, XX the government has also strengthened health protocols and has continued to monitor COVID-19 tracing and tracking attempts to curb virus transmission.

“Monitoring of COVID-19 tracing and tracking attempts has been going well. Thus, the athletes infected by the virus can be detected quickly and treated properly,” Plate added.

Furthermore, he said that tracing and tracking attempts should be improved to ensure the smooth implementation of the sporting event through the massive utilization of the PeduliLindungi app to prevent further transmission.

Source: Antara News