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Letting BI supervise banks could backfire, experts warn

first_imgTransferring the Financial Services Authority’s (OJK) supervision over banking back to Bank Indonesia (BI) could cause investors to lose confidence in the country, experts have warned.Institute for Development of Economics and Finance (Indef) economist Eko Listiyanto said on Friday that the move could create more uncertainties in the country’s financial sector amid an already risk-filled COVID-19 situation.Such a move, he added, could signal that institutions that were supposed to be independent of the government were easily influenced by political interests. One Reuters source said the government was looking at the French structure, where an independent administrative authority under the central bank oversees banking.However, presidential expert staff member Dini Shanti Purwono denied the claim. “There has not been any official discussion of the matter so far,” she told the Post.Neither BI nor the OJK had responded to the Post’s request for comment by the time of writing.The report came after a Cabinet meeting on June 18 where Jokowi said he would reshuffle the Cabinet or even disband government agencies if he felt they had not done enough to tackle the crises brought about by the pandemic.The Supreme Audit Agency (BPK) concluded earlier this year that aspects of the OJK’s supervision were not in line with prevailing regulations.Although Eko acknowledged that the OJK’s supervision was far from satisfactory, he said the government should reflect on its response to the pandemic before accusing the OJK of ineffective supervision.“The government should remember that this was caused by its delayed response to the pandemic, which then caused disruptions to the real sector and hit the financial sector,” he said.Indonesia’s loan growth slowed to 5.7 percent year-on-year (yoy) in April, from 7.9 percent recorded in March, Bank Indonesia (BI) data shows. The outbreak has depressed loan demand and disrupted business activity, and some borrowers are facing difficulties repaying their loans.As of June 22, the country’s banks had restructured loans worth a total of Rp 695.3 trillion for 6.35 million borrowers, in accordance with a recent OJK regulation that instructed financial institutions to provide relief for borrowers affected by the COVID-19 pandemic.Banking expert Paul Sutaryono said the central bank would have to carry heavier responsibilities if the plan went ahead.“If OJK’s supervision is deemed unsatisfactory, it doesn’t mean the OJK should be disbanded and its supervisory function brought back to BI,” he said. “It would be wiser if the top management was changed.”“Its supervision needs to be improved – not only its quality, such as human resources and the supervision volume, but also the number of the supervisors,” he added.Heri Gunawan, a Gerindra politician and member of House of Representatives Commission XI overseeing financial affairs, said a proposal currently on the House’s priority legislation list to revise regulations governing BI might also include discussions about returning the supervisory and regulatory function to the central bank.“However, I think we should conduct a comprehensive study before deciding on it because it will make BI’s task a lot harder,” he said.Topics : “This is a political move. President Jokowi [Joko Widodo] should really think about the repercussions and impact on investor confidence in Indonesia,” he told The Jakarta Post, urging the government to focus instead on its efforts to curb the spread of COVID-19.Once foreign investors started to lose their confidence in the country, Eko said, Indonesia would face tougher challenges. Foreign investment could leave the country and weaken the rupiah exchange rate, and it could be harder for the government to obtain funding for pandemic-related measures.According to a Reuters report, Jokowi is considering issuing an emergency decree to return banking regulation to the central bank because of his dissatisfaction with the OJK’s performance during the pandemic.The OJK was established in 2011 to oversee financial institutions. It was modeled on the financial services regulatory structure the prevailed in the United Kingdom at the time. The OJK assumed the role of regulator and supervisor of banks in 2013, taking the responsibility from the central bank.last_img read more

US coronavirus fraud losses near $100m as COVID scams double

first_imgTogether they accounted for about a third of more than 150,000 instances of COVID-related fraud reported nationally by the Federal Trade Commission (FTC) from mid-March, when the World Health Organization declared a global pandemic, through July, the report showed.Those cases have cost victims a total of $97.5 million to date, according to the FTC.Even relatively small states saw huge spikes in COVID-related fraud in recent months, led by Maine, whose monthly complaints of coronavirus scams and identity theft quadrupled between March and July, the study said.The report was published by the internet-based nonprofit group, which helps consumers avoid being defrauded online by determining the true identity of individuals or organizations hiding behind a phony persona.Scams taking advantage of Americans’ desperation in the midst of a deadly pandemic and accompanying economic upheaval “are running rampant,” said Richard Neil, a spokesman for the report’s authors.Several newly flourishing forms of fraud involve fake promises of government stimulus checks, often perpetuated through “robocalls,” texts, or emails seeking personal and financial information the caller supposedly needs to deposit benefits into the victim’s account, according to the report.Price-gouging and other consumer product scams have also become widespread, the study warned.Topics : United States losses from coronavirus-related fraud and identity theft have reached nearly US$100 million since the pandemic emerged in March, while complaints of COVID-19 scams have at least doubled in most states, a consumer protection group said on Tuesday.A report from the group, based on government data, highlighted the vast scope of a fast-growing criminal cottage industry – from phony stimulus-check offers to shopping scams and fake cures – preying on Americans already distressed by the pandemic and its economic fallout.Perhaps not surprisingly, the study found California, Florida, New York, Texas and Pennsylvania – the most populous of the 50 US states – to be the five most targeted by coronavirus scams in the country.last_img read more

BLOG: Home Holiday Safety Tips for Pennsylvanians

first_img December 21, 2015 BLOG: Home Holiday Safety Tips for Pennsylvanians Like Governor Tom Wolf on Facebook: Holidays,  PSA,  The Blog By Teresa Miller, Insurance Commissioner, and Tim Solobay, Fire CommissionerThe holiday season is a festive time, which often means homes are decorated and family and friends visit. In order to keep this season happy and safe, we have tips to offer to Pennsylvanians on how to avoid potentially dangerous and costly situations.Fire SafetyFirst, while holiday lights and candles give a home a holiday glow, they can also pose a fire hazard. One way to avoid this hazard is to purchase artificial candles, which can look very realistic, while also giving you peace of mind.Be sure to choose decorations that are flame resistant or flame retardant, and keep all holiday greenery, including trees, well-watered.In addition, never leave burning candles or cooking appliances unattended, and keep children and pets away from open flames and hot surfaces.If a string of lights has a worn or broken cord, or any loose bulb connections, replace it. Try to avoid connecting more than three strands of lights on a tree. Be sure to turn off all lights before leaving home or going to bed.Holiday Party SafetyHoliday party hosts should also be aware of the legal responsibilities that go with holding a gathering in their home. This is especially true if alcohol is being served.Hosts can be held legally responsible for guests’ actions after they leave a party. Social host liability can have consequences for someone who serves liquor to a guest.Homeowners insurance often provides some liquor liability coverage, but this coverage varies by policy. Party hosts should review their policy or discuss their coverage with their insurance professional.There are several ways to make sure guests get home safely from holiday parties, such as:Stop serving liquor toward the end of the party;Switch to coffee, tea, or soft drinks;If a guest appears to have had too much to drink or seems too tired to drive home, arrange for a ride or offer for that guest to stay at your home.Gift-GivingIf you are planning to give, or expecting to receive, expensive gifts — such as jewelr>y, electronics, or other costly items — you should review your homeowners insurance to make sure you have enough coverage for these expensive items.Unwrapped gifts, especially more expensive ones, should not be left visible through windows.Be Safe, Relax, Enjoy the HolidayThe holidays are a time to relax and enjoy getting together with family and friends. By applying a few common sense safety ideas, you can make sure your holiday gatherings remain happy ones you will want to remember for years to come.For fire safety tips, visit the Office of the State Fire Commissioner on Facebook.For homeowners insurance information, visit, and click on Home under Top Pages. SHARE Email Facebook Twitterlast_img read more

How to turn your home into a holiday paradise

first_imgByron Bay Hanging Chairs, 70s Swing Chair Single, $499. It’s simple really.One hanging chair in a house is never enough.Well, that’s according to Byron Bay Hanging Chairs founder Leanne Dunnings who believes now the holiday season is coming to an end, many are looking to create a similar vibe at home.Ms Dunnings said creating a holiday feel within your home was achievable. “Hanging chairs are a great accent chair, so why not bring them into your home,” she said.“They look great in a corner of a bedroom, sunroom, the living room or, of course, on your deck.”More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoShe said hanging chairs were typically used in outdoor spaces and looked great on any Queensland veranda.“They offer a nostalgic, relaxed vibe that go hand-in-hand with the beautiful Queenslander-style homes,” she said.“We’ve seen them in all styles of homes. “They really are versatile in their look. “For example modern homes may feature black hanging chairs, beach houses often have white, and the natural cane really does look great in any home that wants to offer a relaxed vibe.“They make you feel like you are on holiday.”Ms Dunnings said with busy lifestyles it was important to slow down, kick off your shoes and feel like a kid again by sitting in a hanging chair.last_img read more

Where to buy: Top 10 spots to bag a bargain home

first_imgNew research has identified the top 10 spots in Australia to bag a bargain home. Image: AAP/Darren England.The top 10 spots to score a home for a bargain and bank on capital growth have been revealed — and while the top two spots are in Victoria the next eight are in the sunshine state.The first two spots were secured by Norlane and Lovely Banks in Victoria, but after that it is all Queensland.Property researcher, RiskWise, has run the ruler over the country’s housing market and concluded Hollywell, on the Gold Coast, is the best suburb in Queensland to buy an affordable home for long-term capital gain. Five things you should do when you buy an investment property “For starters, they are relatively affordable and all within 100km of Brisbane which means, provided there is a good public transport and road infrastructure, commuting to work is not too much of an issue.” . The view of the city from Mount Ommaney, which has been named one of the best suburbs to buy a home for a bargain in Queensland.RiskWise chief executive Doron Peleg said buying a ‘bargain’ property didn’t necessarily mean buying a ‘cheap’ one.“It’s more about knowing where to buy for long-term capital gain,” Mr Peleg said.“Sure, there are a lot of well-priced houses out there, but if they are not expected to grow in value down the track, then they really aren’t the best buy.”The RiskWise analysis identified the most affordable suburbs for houses in Queensland where solid capital growth was expected — particularly in the medium and long term — even if Labor was to win the federal election and make changes to negative gearing and capital gains tax. This property at 2 Sapphire St, Hollywell, sold for $2.6 million.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoMount Ommaney, Sinnamon Park and Gordon Park in Brisbane also make RiskWise’s top 10 list, along with Gaven on the Gold Coast and Doonan on the Sunshine Coast.Mount Ommaney has a median house price of $852,729 and the average house in Sinnamon Park costs $747,272, with both suburbs only 14km from Brisbane’s CBD. Hollywell is about 70km south of Brisbane’s CBD and is characterised by many older-style houses ripe for renovation and is close to major shopping centres, good schools and the beach.It has a median house price of $786,614, according to CoreLogic. MORE NEWS: 10 original beach houses for under $500,000center_img Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:17Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:17 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhat does a million dollars buy in Aussie capital cities?01:17 RiskWise chief executive Doron Peleg. Hollywell on the Gold Coast has been identified as the top spot to bag a home for a bargain in Queensland.The waterside lifestyle location is ranked as the third best location in Australia. MORE NEWS: Aussie homeowners get nasty new year surprise VIP’s eye epic $15 million penthouse Georgie Gardner scores the keys to new home “These (Queensland) suburbs, which all enjoyed capital growth of 13 per cent of the past 12 months, are expected to continue to do well as they have a number of things going for them,” Mr Peleg said.last_img read more

China pledges to support Africa’s economic development: envoy

first_imgChinese Foreign Minister Wang Yi started his visit on Saturday to the three African countries worst hit by Ebola — Sierra Leone, Liberia and Guinea. Wang is the first foreign minister of a world major power to visit the West African region after the outbreak of deadly Ebola in 2014.  Such a move once again proves that China has never and will not stop its assistance to and care for those African brothers in need.Quickly after the outbreak of the fatal epidemic, China was the first country to send health workers to the affected countries in West Africa, and one of the first countries making international medical donations.In combating Ebola, China has provided four batches of assistance to 13 countries in and around the affected areas with a total amount of 120 million U.S. dollars.So far, China has sent over 1,000 medical staffers to the affected countries, treated more than 900 patients, and trained some 13,000 medical workers for Sierra Leone, Liberia, Guinea and their neighboring countries.Most recently, China has pledged to donate an extra 5 million dollars to the UN Ebola Response Multi-Partner Trust Fund to support the recovery process of the affected areas.In the post-Ebola recovery, China will actively support and participate in the building of disease control systems in Africa, and help the African countries improve their capacity to respond to public health emergencies.last_img read more

Herb-Butter-Roasted Turkey

first_img 49 Views   no discussions Food & DiningLifestyle Herb-Butter-Roasted Turkey by: – November 24, 2011 Share Share Tweetcenter_img Herb-Butter-Roasted TurkeyThe herb-flavored butter from this recipe is tucked under the skin of the turkey before roasting it. The butter helps provide flavor to the turkey and helps keep its meat moist. This flavored butter can also be used when roasting chicken to provide the same wonderful herb flavor. You can chat with others to find new side-dish recipes to serve with your turkey.Nutrition Facts * Servings Per Recipe 14 servings * Calories771, * Total Fat (g)43, * Saturated Fat (g)15, * Cholesterol (mg)230, * Carbohydrate (g)23, * Fiber (g)2, * Protein (g)71, * Calcium (DV%)11, * Iron (DV%)31, * Percent Daily Values are based on a 2,000 calorie diet.Ingredients:1 14-pound turkey1/2 teaspoon salt1/4 teaspoon freshly ground black pepper1/2 cup butter (no substitutes), softened2 to 3 tablespoons snipped fresh thyme, tarragon, marjoram, and/or rosemary2 cloves garlic, mincedPear-Pecan Stuffing (see Recipe Center)Directions:1.Preheat oven to 425 degrees F.2.Remove giblets and neck from interior cavity of turkey; reserve for gravy stock. Rinse bird; pat dry. Cut off wing tips; reserve for gravy stock. Season cavity with salt and pepper.3.For Herb-Butter Seasoning, combine butter, the fresh herbs, and garlic. Starting at the neck end of the turkey, loosen the skin by sliding your fingers underneath it, being careful not to tear it. Slide your hand as far as you can toward the other end of the turkey, separating the skin from the meat. Rub about two-thirds of the herb-butter seasoning over the entire breast.4.Spoon some of the Pear-Pecan Stuffing into the neck cavity. Skewer neck skin to back. Spoon more of the stuffing loosely into the body cavity. (If you pack stuffing too tightly, it will not get hot enough by the time the turkey is cooked.) Tuck drumsticks under tail skin, or tie to tail. Transfer any remaining stuffing to a 2-quart casserole; cover and chill in the refrigerator.5.Place turkey, breast side up, on a rack in a shallow roasting pan. Insert a meat thermometer into the center of one of the inside thigh muscles. The bulb should not touch the bone.6.Rub remaining herb-butter seasoning over the entire turkey. Cover turkey loosely with foil. Roast in the preheated oven for 20 minutes. Reduce temperature to 350 degrees F. Continue roasting turkey for about 3-1/2 to 4 hours or until thermometer registers 180 degrees F. Cut band of skin between legs after 2-1/2 hours so the thighs will cook evenly. Bake casserole of stuffing alongside turkey during the last 40 minutes or roasting. During the last 30 minutes of roasting, uncover turkey.7.When done, remove turkey from oven; cover. Let turkey stand 20 minutes before carving. To serve, remove stuffing from turkey; transfer to a serving bowl. Carve turkey and serve warm. Makes 14 servings.Recipe source: Better Homes and Gardens Share Sharing is caring!last_img read more

PH records 1st death from novel coronavirus

first_img“The Department of Health iscontinuously improving and scaling up its public health measures and remindsthe public to remain calm and vigilant,” said Duque. MANILA – The Philippines has recordedits first death from the novel coronavirus (2019-nCoV). It is also the firstdeath due to the virus outside China. The Health secretary also said24 patients under investigation (PUIs) for the 2019-nCoV tested negative,based on the samples analyzed by the Research Institute for Tropical Medicine. In his last few days, the patient wasstable and showed signs of improvement. However, his condition deterioratedwithin his last 24 hours, resulting in his demise. Over the course of the male patient’sadmission, he developed severe pneumonia due to viral and bacterial infections(S. pneumoniae and Influenza B), according to Duque. Rabindra Abeyasinghe, the World HealthOrganization representative to the Philippines, urged people to remain calm:“This is the first reported death outside China. However, we need to take intomind that this is not a locally acquired case. This patient came from theepicenter (Wuhan City) of this outbreak.” The fatality, a 44-year-old Chinesemale, was the second 2019-nCoV case in the country. He was a companion of thecountry’s first case, a Chinese woman tourist from Wuhan City, China, accordingto Secretary Francisco Duque of the Department of Health (DOH) yesterday. The Chinese man and woman arrived inthe Philippines via Hong Kong on Jan. 21. The woman was hospitalized forpneumonia on Jan. 25 after experiencing fever, cough and sore throat. People wait outside a store to purchase protective masks in Manila on Jan. 31. Getty Images The man died on Saturday at the SanLazaro Hospital in Metro Manila. center_img Duque also said San Lazaro Hospitalobserved rigorous infection control protocols while caring for the two Chinesepatients. “I would like to emphasize that thisis an imported case with no evidence of local transmission,” Duque stressed ina press conference. The man is thought to have had otherpre-existing health conditions. “DOH is assuring the public that allmeasures needed to contain the spread of the virus is being strictlyimplemented and followed,” Duque said.  “Both patients were isolated followingstrict isolation standards, and all health personnel who came in contact withthem practiced stringent infection control measures and wore appropriatepersonal protective equipment,” said Duque. The new developments, he said, warranta more diligent approach in containing the threats of the 2019-nCoV. “We are currently working withthe Chinese Embassy to ensure the dignified management of the remains accordingto national and international standards to contain the disease,” he added. In China, more than 300 people havedied in the virus outbreak so far, the vast majority from Hubei province whereWuhan City is located. More than 14,000 people have been infected./PNlast_img read more

Lawn worker pulled from lake after going missing

first_imgPalm Beach County Fire Rescue officials are reporting that they have pulled a missing lawn worker from a lake in Boynton Beach.The worker was reported missing after going into the lake near Brian Boulevard and Beverly Court.Divers located the victim around 4:45 pm and transported them to a local hospital in unknown condition.Rainbow Cmd *update* @PBCFR #rescuedivers have located one victim, patient being transported to local area hospital— PBC Fire Rescue (@PBCFR) June 10, 2019 It is unclear if the worker fell into the lake or if they went in willingly.last_img read more

Superb Smith shines under Gabba lights … Aussie captain records 16th Test century

first_img(REUTERS) – Australia captain Steve Smith shone in the Gabba floodlights with a sparkling century to put Australia in a commanding position on day one of the first Test against Pakistan yesterday.Smith’s unbeaten 110 drove Australia to 288 for three at stumps, as Pakistan bowlers toiled on a hot day in the field and enjoyed little relief in the cool of the evening as the pink ball made its Brisbane debut.Peter Handscomb, who shared in an unbroken 137-run partnership with Smith, was 64 not out with Australia well placed to build a big first-innings total on day two.“You’d take 3-288 any day of the week,” said Smith. “They’re all special, I love getting hundreds, I love batting out here at the Gabba.”Smith won the toss and sent his team in to bat on a wicket that offered little for the bowlers until the new ball showed some movement late in the final session.Misbah-ul-Haq’s side took two quick wickets before tea to have the match delicately poised at 75-2 but Smith and rookie opener Matt Renshaw (71) steadied the home side with a 76-run partnership.Middle-order batsman Handscomb struck his second half-century to continue his positive start after his debut against South Africa in the day-night dead rubber in Adelaide.Smith was dropped on 53 in the final over before the dinner break, with part-time spinner Azhar Ali coaxing an edge to Sarfraz Ahmed but the wicketkeeper put it down.When the skipper was on 97, the ‘Hotspot’ technology also picked up a nick off his bat off seamer Mohammad Amir but none of the Pakistan team noticed it and the possible caught-behind chance went a-begging.After a nervous wait on 98, Smith smashed a four past mid-off to raise his 16th Test century, featuring 16 boundaries bashed to all corners of the ground.Leaping into the air and ripping off his helmet, Smith brandished his bat with relish as the Gabba crowd roared.Renshaw, who had batted superbly with Smith in his second Test, was earlier removed by a swinging delivery from paceman Wahab Riaz.It was to be the last highlight for the touring side who were defied by Smith and Handscomb for the whole third session.David Warner and Renshaw put on a 70-run opening partnership before Amir struck to remove Warner lbw for 32.Leg-spinner Yasir Shah, recalled after missing the second Test in New Zealand, had number three batsman Usman Khawaja caught for four when he spooned a simple catch straight to Misbah at short midwicket.AUSTRALIA 1st inningsM. Renshaw c S. Ahmed b Riaz 71D. Warner lbw b Amir 32U. Khawaja Misbah-ul-Haq b Shah 4S. Smith not out 110P. Handscomb not out 64Extras: (lb-2, nb-4, w-1) 7Total: (for 3 wickets, 90 overs) 288Fall of wickets: 1-70, 2-75, 3-151,Bowling: M. Amir 18-6-40-1, R. Ali 19-4-69-0, Y. Shah 31-5-97-1, W. Riaz 15-3-52-1 (nb-4, w-1) Az. Ali 7-0-28-0.last_img read more