The Indonesian banking industry will face tougher challenges throughout the rest of the year following the sector’s slumping performance in the first quarter as the impacts of COVID-19 continue to batter the economy, experts have said.Moody’s Investors Service financial institutions group analyst Tengfu Li wrote in a research note dated May 29 that the country’s banks would see their asset quality and profitability deteriorate due to the coronavirus, but their capital and liquidity would remain strong, providing ample buffers to absorb the financial stress.“Restructured loans in Indonesia have grown significantly since authorities relaxed rules for debt restructuring in March 2020 to provide financial relief for those impacted by the crisis,” Li said. NPLs slightly increased to 2.89 percent in April, two months after the government announced Indonesia’s first two cases of COVID-19 in early March, versus 2.77 percent at the end of the first quarter. Loan growth slowed to 5.73 percent year-on-year (yoy) in April from 7.95 percent recorded at the end of the first quarter.Banks’ profitability would also deteriorate materially because of increasing credit costs, as they continued to proactively identify weak borrowers and increased provisions for them, Li of Moody’s said. Meanwhile, interest margins would contract because of low interest rates and slowing loan growth, further pressuring profitability.“[The loan restructuring] could cause banks’ revenue to decline, thus affecting their profits,” Samuel Sekuritas equity analyst Suria Dharma told The Jakarta Post on Wednesday. “I even expect some big banks will even see contractions in their profit growth this year.”One of the country’s largest bank by asset value, state-owned Bank Rakyat Indonesia (BRI), saw its net profit contract 0.3 percent in the first three months of the year to Rp 8.17 trillion as its loan disbursement grew slower at 10.1 percent yoy compared to 18.6 percent yoy in the first quarter of 2019.Read also: Indonesian banks have sufficient liquidity despite loan restructuring, pandemic: Economists“We will definitely revise our bank business plan this year [given the situation],” finance director Haru Koesmahargyo said during a virtual press briefing on May 14.State-owned Bank Tabungan Negara (BTN), meanwhile, recorded a contraction of 36.79 percent in profit to Rp 457 billion in the first quarter, while its NPL ratio jumped to 4.91 percent from 2.92 percent.State-owned Bank Negara Indonesia (BNI) recorded a 4.3 percent growth in profit to Rp 4.25 trillion in the first three months of the year. Bank Mandiri has yet to announce its first quarter financial report.Bank Central Asia (BCA), the country’s biggest privately owned bank, also saw slowing growth in profit and loan disbursement in the first three months of the year.During the period, BCA recorded annual profit growth of 8.6 percent to Rp 6.58 trillion, slower than the 10.1 percent growth booked in the first quarter of last year. It also only recorded 12.3 percent yoy growth in loan disbursement, compared to 13.2 percent yoy growth a year before.Privately owned Bank OCBC NISP, too, endured a similar fate as its profit only grew 3 percent yoy to Rp 791 billion in the first quarter, much slower than the growth during the same period in 2019 of 14 percent annually.Despite booking higher growth in loan disbursement, publicly listed Bank Permata’s profit contracted by 99.5 percent yoy during the period to Rp 2 billion.As a result, investors dumped banking stocks. Finance stocks at the Indonesia Stock Exchange (IDX) have lost more than 24 percent of their value so far this year, the fourth-worst performer among all sectors, while the main gauge, the Jakarta Composite Index (JCI), shed 21.57 percent of its value during the period, data from the bourse show.Read also: Indonesia’s financial system at risk amid pandemic: KSSKAlthough this year’s economic conditions might not be favorable for banks, Suria said banking stocks were still attractive as the recent market rout had significantly lowered bank stocks’ valuation, making them inexpensive when compared to their business potentials.“This is a great time for mid-to-long term investors to buy the stocks while they are very cheap,” he said.Moody’s also offered a brighter view over the industry, saying Indonesian banks’ capitalization and liquidity would remain strong despite the challenges ahead.“A slowdown in capital consumption due to slowing loan growth coupled with rising loan-loss provisions will provide banks with ample buffers against potential losses caused by the coronavirus outbreak,” Li wrote. “And while this, along with subsidies for consumers and small businesses, will provide temporary relief for banks, nonperforming loans (NPLs) will still increase substantially in the longer term, given the scope of economic disruptions stemming from the coronavirus crisis.”Read also: Ultra-rich to place more funds in banks amid liquidity crunch: EconomistsThe coronavirus outbreak has disrupted economic activity as it forces offices, businesses and schools to shut down amid social restrictions implemented by the government to contain the disease. It has also affected people’s purchasing power as millions have lost their jobs.The Financial Services Authority (OJK) issued a regulation allowing businesses hit by the pandemic to apply for loan restructuring in an effort to minimize bad credit. The banking industry recorded Rp 517.2 trillion (US$36.5 billion) in loan restructuring from 5.33 million debtors as of May 26, OJK data show. Topics :
On Sunday morning, Ripley County Communications received a report of a female not answering her door due to an unknown problem. The complaint came from the landlord at a residence in Elrod.Emergency services personnel were dispatched and, upon their arrival, were unable to gain immediate access to the apartment. Entry into the apartment was made after Corporal Rob Bradley arrived to assist.Inside the apartment first responders located 37-year-old Hannah L. Walker, of Elrod, formerly of Cincinnati, deceased.“While it is believed that drug use is a contributing factor, the cause of death is still unknown at this time. Results will be released pending return of coroner’s report,” said Ripley County Cpl. Rob Bradley.Results could take up to several weeks.If anyone has any information in this incident, contact the Ripley County Sheriffs Office at (812)689-5555.
Kazakhstan defender Mark Gorman is relishing his showdown with Ireland skipper Robbie Keane. He said: “I wouldn’t say that in this match, we are talking about revenge, but of course we would like to get the most points we can in order to finish as well as possible. “This game is going to be about the national pride of the team. Of course we will be trying our best in order to achieve the best possible result for the team because we are very proud that we are taking part in this game. “We will be doing everything possible to defend ourselves.” Ireland created chances in Germany on Friday and on another night, could have scored two or three goals. However, King has indicated they will not take a gung-ho approach in their mission to round off the qualifying campaign with a victory. But Kazakhstan midfielder Andrei Karpovic is expecting a traditionally robust approach from the Irish. He said: “We completely and totally respect our opponents. However, we do hope that we will be able to achieve the best possible result for our team. “We are determined to show that we are a high-quality team and bring some joy to our supporters. “We are aware of the difficulties we are going to face playing against the Irish team because they are known as a strong, very defensive and very aggressive, in the positive meaning, when playing football.” Gorman said: “I will treat him with absolute respect, but at the same time, I do know how much pressure it puts on me to defend and protect my team. “But I do hope that I will be able to play accordingly to a high level and up to his talent. As a team, we will try our best.” The Kazakhs arrived in Dublin on the back of a 1-1 draw with Group C minnows the Faroe Islands in Torshavn, a result which did not go down well with sections of the fanbase. However, Kazakhstan coach Miroslav Beranek is confident there is more to come from his players. He said: “I was not disappointed with the result. I know that the team can play better, and that’s the goal we will be trying to achieve tomorrow.” The two sides met in the opening round of fixtures in Astana in September last year on a night when Ireland’s campaign very nearly got off to the worst possible start. They trailed 1-0 to Kairat Nurdauletov’s first-half strike with just two minutes of normal time remaining when Keane drew them level for the penalty spot to set the stage for Kevin Doyle to win it at the death. However, Beranek is adamant that revenge will not be on his mind in Dublin. The 24-year-old defender could face the task of trying to keep the LA Galaxy striker at bay as his side attempts to end its World Cup qualifying campaign on a high in Dublin. Keane, 33, has 60 senior international goals to his name and having missed on Ireland’s 3-0 defeat in Germany on Friday evening, will be raring to go if he forces his way back into interim coach Noel King’s starting line-up for the game at the Aviva Stadium. Press Association
Press Association “Unfortunately, the negative is that he has soft muscle damage and at the moment it is looking like it will probably be three to four weeks I would think.” Since Shawcross made his return in October from a back operation, Stoke have lost only five times in all competitions. Hughes added: “It is a blow to us because since Ryan came back into the team, we’ve been on a good run. “It was certainly detrimental to our performance on Saturday.” Hughes was speaking at his press conference to preview Tuesday’s Capital One Cup semi-final second leg at Liverpool, which the Potters head in to trailing 1-0 from the first leg. The Welshman expects forward Marko Arnautovic, who has been carrying a hamstring problem for a while and sat out Saturday’s match, to be available for selection. Hughes said scans had shown there was “just a little bit of tightness” rather than any major damage to Arnautovic’s hamstring and that Stoke would make sure the Austria international, having trained on Monday, was “primed and ready to go” for Tuesday night. Midfielder Geoff Cameron (ankle) remains sidelined but may be able to return in Saturday’s FA Cup game at Crystal Palace. Shawcross came off in the first half of Saturday’s 3-0 Barclays Premier League loss at Leicester. And giving an update on the central defender on Monday, Hughes said: “Thankfully it is not a recurrence of the back injury which required surgery (over the summer) so that is a positive. Stoke captain Ryan Shawcross is set to be sidelined for up to a month by a back injury, Potters boss Mark Hughes has revealed.
Florida is joining 29 other states that are part of an electronic network which is intended to maintain the integrity of voter rolls.According to elections officials, the Electronic Registration Information Center (ERIC) could potentially help local election officials verify existing registration records and detect duplicate registrations to avoid issues at the polls.In making the announcement Wednesday, Governor Ron DeSantis said that he expects our state to join the program before the 2020 election.He also estimated that between 4 million to 5 million Floridians are not registered to vote. However, DeSantis emphasized that our state would be conducting outreach to register new voters only because it is an ERIC requirement, adding, “People spend big money trying to get voters registered. If it was just as easy to send them a postcard in the mail and fill it out, well, that would make it much easier. And typically you’ve [actually] got to do more outreach than that.”Florida, which currently has more than 13.4 million registered voters, would be the largest member of ERIC.The state’s entry to the program follows the release earlier this year of the Mueller Report, which alleged that Russians hacked electronic voter registration records in two Florida counties ahead of the 2016 election.
The annual Springfest event, put on by the Undergraduate Student Government Concerts Committee, was held in McCarthy Quad on Saturday afternoon and lasted into the evening. The concert featured headliners 2 Chainz, Portugal. The Man, BØRNS and GTA (above).
Wisconsin head coach Mike Eaves’ team received a major boost Monday when star freshman forward Nic Kerdiles announced he would serve his suspension and remain a Badger.[/media-credit]More than two weeks after the NCAA suspended Nic Kerdiles, the freshman forward for the Wisconsin men’s hockey team announced Monday he would remain in Madison for the upcoming season. The 18-year-old Kerdiles is a recruit out of the U.S. National Team Developmental Program whom the Anaheim Ducks drafted in the second round of the 2012 NHL Draft. The Irvine, Calif., native saw his season-long suspension taken to 10 games Friday after the school appealed the NCAA’s decision. “I still do not understand everything that has happened to me in this process or why it has happened at all,” Kerdiles said Monday, reading from a statement at head coach Mike Eaves’ weekly press conference.“My goal is not to take this situation and turn it into any adversity that my team would have to overcome,” Kerdiles continued. “Therefore, I am choosing to move forward and put all my energy and focus into being the best student athlete I can be.”Eaves credited the hard work of the UW administration in this whole process as well as Kerdiles for his maturity in handling a challenging situation.“Every once in a while you have a true freshman come in who’s beyond his years in emotional and mental state, and Nick is one of those people,” Eaves said.After the NCAA’s new ruling on the situation, Kerdiles said there was “never a doubt” he would skip out on professional hockey for at least the next year and instead don the cardinal and white. “I’ve loved every second of my first couple months here even with all this stuff going on,” Kerdiles said. “I truly believe that I’m meant to be here and meant to continue pursuing my ultimate goal of playing in the NHL.”Though Kerdiles has decided to serve the suspension, Eaves believes the recent controversy over Kerdiles will now draw more attention to the process of college hockey recruitment. The freshman fell under NCAA scrutiny after he and his family stayed in hotel rooms paid for by an NHL agent that Kerdiles’ family eventually repaid the agent for. “I’m sure that because of Nick’s situation here that there is going to be a lot of attention to detail,” Eaves said. “With the hockey players coming into college hockey and the situation with family advisors, there is no question.”Though Kerdiles will sit out until Nov. 30 when the Badgers face off with Denver on the road, the team will be looking to its younger players to step up on the road this weekend against Duluth. Eaves and Kerdiles both expressed their confidence that the locker room has not been shaken by the controversy surrounding Wisconsin’s high-profile recruit. “We’re excited about getting on the road, ” Eaves said. “That’s always fun to get on the road … We had a good week of practice last week, we will continue to build this week and see what we can get done on the road.”When UW does hit the road this weekend, they will be looking for the offense to increase its offensive production on the road when it faces an aggressive Minnesota-Duluth (2-2) team. The Bulldogs recently returned from a split with Notre Dame Thursday and Friday.“In watching film this past week, I can say this: They play hard,” Eaves said “As a matter of fact, they probably played too hard for their coach, they had to kill off about three five-on-threes Friday night.”The Badgers will hope to counter the aggressive play of the Bulldogs when they head to Minnesota for their third and fourth games of the season. Wisconsin has yet to win a game in the young season and is looking for more offensive efficiency against its first WCHA opponent. They will be facing a UMD team looking to create an identity after losing much of its offensive firepower with the graduation of last year’s senior class.“As we look at their club very quickly,” Eaves said. “They have seven seniors, they have a bunch of highly-touted young freshmen and a couple young goaltenders that they’re trying to figure out who’s going to be there number one.”
Associated Press Television News WATCH US LIVE LIVE TV Last Updated: 22nd August, 2020 07:44 IST Indy 500 Does Its Best To Shine As Show Goes On In Pandemic The Indianapolis 500 has been stripped almost to the bone for the 104th running of “The Greatest Spectacle in Racing.” Written By COMMENT The Indianapolis 500 has been stripped almost to the bone for the 104th running of “The Greatest Spectacle in Racing.”The iconic test of man and machine is too important to new owner Roger Penske to cancel in the year of the coronavirus pandemic. Its importance to the survival of IndyCar teams meant the race had to be staged even if the gates at Indianapolis Motor Speedway will be closed to fans for the first time in its long, storied history.“Virtually every sponsorship you have is tied to this event. It’s the 800-pound gorilla,” said Bobby Rahal, owner of three cars entered in Sunday’s race that was rescheduled from its traditional Memorial Day weekend slot.“I think the idea of not having the Indy 500 would have been disastrous to probably every team,” he said. “It would have been a death knell to some teams, so, yes, this race had to happen.”Penske, the billionaire businessman who closed his purchase of the national landmark speedway and the series itself in January, will host the marquee race practically out of pocket. The Indy 500 was canceled only during World War I and World War II and Penske’s staff has gone to extreme lengths to make the race still feel like a world-class event even without fans.It’s cachet improved when Marco Andretti won the pole, a feat not done by his famous family since Mario Andretti did it in 1987. Marco was just two months old when his grandfather won his last Indy pole and Marco’s father, uncle and cousin all failed to duplicate the effort.Mario’s victory in 1969 is the only Indy 500 win among five Andretti drivers covering 74 starts. It was Marco, as a rookie in 2006, who last came closest to ending the “Andretti Curse” when he was beaten at the finish line.This is his time, a full 15 years later, and Andretti is up for the challenge .“I feel good and I’m not stressed out. My grandfather and I even talked about it, there’s something about our family that lives for this type of good pressure,” Andretti said. “I feel at home. I feel in my element. Feeling pressure means you are playing for something.”His top competition seems to be his very own Andretti Autosport teammates as the Honda-powered cars trounced Chevrolet in qualifying. The Andretti camp starts four drivers in the first three rows, while Honda took all but one of the nine slots.The front of the pack includes a pair of rookies: Alex Palou in a Honda for Dale Coyne Racing, and 19-year-old Rinus VeeKay, the lone Chevrolet driver to crack the fast nine who is mentored by fellow Dutchmen and two-time Indy 500 Arie Luyendyk.The Chevrolet contingent is mostly stuck in the back of the 33-car field — which filled up late. DragonSpeed Racing with driver Ben Hanley announced its entry just last week and missed almost two full days of practice getting a car prepared.The back of the field includes Penske’s entire four-car fleet, which includes the last two winners in Simon Pagenaud and Will Power, defending IndyCar champion Josef Newgarden, and three-time Indy 500 winner Helio Castroneves.For Castroneves, it just might be the winding down of his 20-year relationship with Penske. The sports car arm of Team Penske plans is taking a pause in 2021 and it leaves Castroneves without a full-time job. He very much wants to return to IndyCar next season.“The situations may be with another team. Who knows?” Castroneves said.Castroneves and Tony Kanaan, two wildly popular drivers, are both facing uncertainty after this 500. Kanaan knew he would not run a full IndyCar season but this five-race farewell tour has been ruined by the pandemic and he wants to be back at Indy next year. As the two Brazilians work on their schedules, they have both been among the first drivers announced to compete in Tony Stewart’s upcoming all-star series for veteran drivers.Fernando Alonso is back for a third attempt at closing out the Triple Crown of motorsports. The two-time Formula One champion did not make the Indy 500 last year and this could be his last chance for a bit to add Indianapolis to a resume that includes victories at Monaco and Le Mans.Alonso is returning to F1 next season and will miss the Indy 500 the next two years. He said if he wins Sunday he will have achieved his goal, but the Arrow McLaren SP team has only been mediocre leading into Friday’s final practice. It was only then the McLaren team showed a flicker with teammate Pato O’Ward topping the final speed chart. Alonso, the only driver to crash during Indy 500 practices, was 23rd.Somewhat under the radar of the Andretti-led Honda challenge of Chevrolet is five-time IndyCar champion Scott Dixon, who will start second alongside Andretti. The Iceman has been phenomenal in this abbreviated season with three wins and four podium finishes. He’s got a cozy lead in the IndyCar championship standings and is seeking to add a second Indy 500 win to his stacked resume.Dixon was genuinely pleased for Andretti after Andretti knocked him from the pole, but the fun is over come Sunday.“I hope it’s us winning the Indy 500,” Dixon said. “That’s what we’re thinking about. It’s honestly all just thinking about us trying to win the race and be best prepared.”Image credits: AP SUBSCRIBE TO US First Published: 22nd August, 2020 07:44 IST FOLLOW US
Jackson…killed in his way home from school Detectives from the Miami-Dade Police Department’s Homicide Bureau are investigating a shooting, which resulted in the death of 18-year old Jovantae Jackson.According to investigators, officers were dispatched to the above listed area, reference a man being shot. On arrival they found Jackson suffering from an apparent gunshot wounds.Jackson had been trying to cut ties with a local gang and was beginning to turn over a new leaf when he was shot dead walking home from school.The teen had recently finished a court-ordered house arrest for a gun charge. The senior at Stellar Leadership Academy Charter School had just found a job at a local fast food restaurant and was two weeks from graduating high school.Three weeks ago, he learned he was going to be a father.Jackson was walking with classmates near the intersection of Northwest 82nd Street and 25th Avenue at around 1:30 p.m. Tuesday, when someone pulled up in a car and opened fire. He was struck five times.Jovantae was transported to Jackson Memorial Hospital’s Ryder Trauma Center, where, he died while undergoing surgery.
Ghana forward, Abdul Majeed Waris, has joined French side, RC Strasbourg on a 6-month loan from FC Porto.The deal was announced by the French club on Thursday evening and it added that Waris could make his stay permanent for two years should the club decide so.Waris has struggled for regular playing time at Porto and the move is seen as a great opportunity for him to put his career back on track.He has already played in France for FC Lorient, Valenciennes and FC Nantes and so, he will be in very familiar territory and Waris said in his first interview with that he was eager to play in France again.“I am very happy to be here at Racing Strasbourg. It was my priority to come back to France and Strasbourg is a team I am familiar with. The head of recruitment, Loic Désiré, and the team have pursued me for a some months now.When I recently played for Nantes, I faced Strasbourg. They have a great atmosphere in their stadium and I wish to experience those moments with the fans at the Meinau.I wish to bring my qualities to a team that already has very good forwards. I know Kenny Lala with whom I played at Valenciennes and Lamine Kone who was my team mate at Lorient. I am also to see that my friend, Alexander Djiku here. We spent the last holidays in Ghana together.I am really looking forward to a good start here and also to learn more about this beautiful city of Strasbourg.”It uncertain when Waris will make his first appearance for the club. On January 18, they face Angoulême in the French Cup and on January 25, they take on Monaco in the Ligue 1.Strasbourg are currently 12th on the Ligue 1 table.