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Indonesian bourse caps stock drops at 10% as equities start to rebound after bruising day

first_imgTopics : The Indonesia Stock Exchange (IDX) has issued a new regulation that allows stocks, at all price ranges, to fall by a maximum of 10 percent in an effort to anchor the Jakarta Composite Index (JCI) after a deep drop on Monday.The new auto-rejection regulation came into force Tuesday, when stocks rebounded on early trading. The rule stipulates that the bourse will allow stocks with prices ranging from Rp 50 (0.3 US cent) to Rp 200 to rise 35 percent and to fall a maximum of 10 percent.Read also: OJK relaxes buyback rules as Indonesian stocks nosedive more than 6% Stocks with prices of between Rp 200 and Rp 5,000 will be allowed to increase by a maximum of 25 percent and decline by just 10 percent, while equities priced higher than Rp 5,000 will be allowed to jump by a maximum of 20 percent and fall by 10 percent.Previously, the auto-rejection ceiling and floor percentages were set at the same level for each price range.“The Indonesia Stock Exchange’s changes to the auto-rejection limits are intended to ensure orderly, reasonable and efficient equities trading,” the bourse’s statement reads.The JCI, the main gauge, jumped by 0.29 percent at opening on Tuesday and soared a further 2.07 percent to 5,242.94 as of 9:44 a.m. Jakarta time after plunging 6.58 percent on Monday to a three-year low amid virus fears and an oil price war.center_img Read also: Oil crash sparks ‘Black Monday’ meltdown on virus-hit marketsThe Financial Services Authority (OJK) on Monday evening also announced a policy to allow listed companies to buy back their shares without a prior shareholders meeting to ease market volatility.“This is as an effort to stimulate the economy and reduce the impact of the significantly fluctuating market,” the OJK said in a statement. (prm)last_img read more

Mikel Arteta can’t repeat Mesut Ozil mistake with Pierre-Emerick Aubameyang, warns Martin Keown

first_img / Comment 1 min. story Coral BarryThursday 5 Mar 2020 8:33 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link879Shares Mikel Arteta can’t repeat Mesut Ozil mistake with Pierre-Emerick Aubameyang, warns Martin Keown Skip Aubameyang is Arsenal’s leading goalscorer (Picture: Getty)Martin Keown has warned Mikel Arteta off handing Pierre-Emerick Aubameyang a massive new deal with the Arsenal striker’s contract set to expire next summer.Arsenal have been working on convincing Aubameyang to put pen to paper on a new long-term deal amid relentless transfer speculation about their top goalscorer.The Gunners continue to find themselves in tricky contract situations, with Mesut Ozil and Aaron Ramsey running down their deals and demanding massive wage boosts to sign new contracts.Arsenal gave in to Ozil’s demands, but allowed Ramsey to leave the club on a free transfer last summer.ADVERTISEMENT About Connatix V67539 Read More Top articles ‘I wouldn’t want to see him go, but they don’t want to be held to ransom either.‘You could argue with Ozil that’s what happened because at the time [Alexis] Sanchez and Ozil were two big players and they didn’t want to lose both so they invested heavily in Ozil.’Ozil penned a reported £350,000-per-week deal just months before his deal was due to expire, while Alexis Sanchez was sold to Manchester United mid-way through the season.Despite investing heavily in Ozil, the German has failed to deliver consistently on the pitch for Arsenal and reports claim the London club have repeatedly tried to offload the playmaker.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityArteta spoke about the future of Aubameyang ahead of Arsenal’s game against West Ham this weekend and confirmed he wanted his and Lacazette’s contract talks concluded quickly.‘We will have to do that [contract talks] at some stage before the end of the season for sure,’ Arteta said.‘We will see the intentions that we have, his intentions, and where we are sitting at that moment.‘I think it’s difficult to predict that context right now.‘For me, it’s very easy, I want to keep him in any circumstances.’MORE: Arsenal keen on Jonathan David as potential Pierre-Emerick Aubameyang replacementMORE: Arsenal begin talks to sign Feyenoord midfielder Orkun KokcuFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram. For more stories like this, check our sport page. Rio Ferdinand tells Ole Gunnar Solskjaer to drop struggling by Metro Read More Full Screen SPONSORED Read More With Alexander Lacazette’s deal also nearing it’s expiry date, Keown urged Arteta to consider offloading both his strikers.AdvertisementAdvertisement‘Key decisions need to be made [with Aubameyang and Lacazette],’ Keown told Goal.‘Are they going to stay or not? Do Arsenal have to face up to the prospect of perhaps losing Aubameyang? Coming Next 1/1 Manchester United captain Harry Maguire PLAY Skip Ad Visit Advertiser website GO TO PAGE Read More Video Settings Read More Advertisement Advertisementlast_img read more

Epe Wins Aikwuta Mark Open to End Professional Drought

first_imgOlawale Ajimotokan in AbujaFrancis Epe finally won his first professional title on the Nigerian Tour since he joined the PGA of Nigeria in 2011 following his victory at the 6th Pa Aikwuta Mark Memorial Tournament at Otukpo Golf and Country Club, Akpegede-Otukpo, Benue State over the weekend.The six-year- wait bore every hallmark of specialty given that the Aikwuta Mark Open was the forerunner on the Nigerian Order of Merit Schedule for 2017 with a repertoire of the nation’s leading players in attendance.Epe from Ikoyi Club 1938 reined in the final day pressure when he shot -2 under par 286 to secure victory and take home the winner’s purse. The crunching nerve was in the composition of the final round last group where Epe found himself on the tee playing aside Sunday Olapade and Gift Willy.After they all dropped shots on the opening hole, Epe drilled four birdies and 12 pars to steer ahead of the pack. He hit 14 fairways and all greens in regulation for a closing round of 70, his best round over 72 holes.Emos Korblah from Ghana was three shots off the pace for second place ahead of countryman Vincent Torgah, who finished at +2 over par 290.Elisha Markus, Willy and Olapade, whose opening tee shot rested in the rough to the left, shared fourth position at +3 over par 291.“It was not an easy tournament to win because I was nervous playing in the last group. But I controlled my temperament and struck to my game plan. I reaped from vital birdies and par saves. I hit all par threes and never made another bogey until hole number 15. It is a great feeling to start the Nigerian season as a winner,”Epe summed up afterwards.Apart from Epe’s baptismal triumph as a pro, the individual feats of Idris Garba and Amedu Usman were some of the highlights of the tournament.Garba shot an albatross on the par 4 hole 4, while Usman made a hole-in-one at hole 9.Danjuma Joel won the men Category 2 event with 131 nett, beating S. Igbetua by five shots while Blessing Obaje won the Ladies Handicap 0-36 gross prize with 146.The sponsor of the tournament, Senator David Mark, who organised the tournament in memory of his father, said Nigeria would not be recognised as a great golfing nation unless the professional game was developed by amateur golfers with means and influence.He said the Otukpo Golf Course that runs an academy for children is to encourage the youths to embrace golf and take the boys from the streets by channeling their energy into sports instead of activities detrimental to the society.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

‘Weah Violates Constitution’

first_imgCllr. Tiawan Gongloe, President, Liberia National Bar Association-LNBA President Cllr. GongloeThe President of the Liberia National Bar Association (LNBA) Cllr. Tiawan Gongloe says President George Weah’s appointment and subsequent commissioning of George S. W. Patten, Sr., to serve as Liberia’s Ambassador to the United States without the confirmation of the Senate as required by the Constitution was a “complete violation” of Article 54 of the 1986 Constitution of Liberia.Article 54 of the Constitution of Liberia specifically provides that: “The President shall nominate and, with the consent of the Senate, appoint and commission — a) cabinet ministers, deputy and assistant cabinet ministers; b) ambassadors, ministers, consuls; and c) the Chief Justice and Associate Justices of the Supreme Court and judges of subordinate courts; d) superintendents, other county officials and officials of other political sub-divisions; e) members of the military from the rank of lieutenant or its equivalent and above; and f) marshals, deputy marshals, and sheriffs.”However, President Weah, in December 2018, appointed and subsequently commissioned Mr. Patten as Liberia’s Ambassador-designate to the United States of America, while members of the Senate were away on their annual break.In his induction address of officers–elect of the LNBA on Friday, January 25, at the Paynesville City Hall, Cllr. Gongloe said the President was in error to have confirmed Patten in the absence of the Senate.According to Gongloe, there is no exception to the Constitution to give a president the right to appoint and confirm without the involvement of the Senate.“For the Senate to be on recess and the President to appoint and confirm an ambassador is a total ‘no’ and ridicule for our democracy, and the bar will not remain silent on that constitutional violation. Even in an emergency situation our Constitution does not give the President the right to do so,” the LNBA president emphasized.In December 2018, President Weah appointed George Patten as Liberia’s Ambassador-designate to the U.S., giving him letters of credence without Senate confirmation. (Photo Credit: Executive Mansion Photo)Gongloe meanwhile assured his audience, mostly lawyers, that his leadership would not remain silent on any issue that would undermine the Constitution and any other international statute to which Liberia is a signatory.“We will be the voice for the voiceless, especially on an issue that would be in violation of the Constitution, and they are going to ensure the sustainability of the peace through the effective administration of the justice system,” he noted.According to Gongloe, these were some of the constitutional lapses that led the country to a  prolonged 14 years of civil war that took the lives of over 250,000 and several millions of dollars of properties destroyed; and so his leadership will not keep silent to see the recurrence as was in the past.“You are going to hear us loudly on all contentious issues that would involve the three branches of the government, especially in the violation of the Constitution and international instruments,” Gongloe vowed. ”We are also going to make clarity on contentious legal issues so as to maintain the peace and sustain our democracy.”Gongloe said the LNBA will get involved with those contentious constitutional issues because, in the absence of peace, they (lawyers) would close their respective law firms; even the courthouses would also be closed.“Lawyers are a part of the country and we have the responsibility to sustain the peace of the country,” Gongloe indicated.Earlier, keynote speaker Yacoub El Hillo, UN Resident Coordinator in Liberia, reminded members of the LNBA to reinforce their advocacy and propagation for the respect of the rule of law and to continue to discourage any act or activity that could jeopardize the security and hard-won peace of the country.“I am confident that the Bar, under the leadership of its president-elect and members of the Executive Committee, will continue to maintain its independence, be the voice of the voiceless, be a watchdog that will let the government know when things are going in the wrong trajectory, and remind them to respect the laws of the land, among others, by all the three branches of government,” El Hillo emphasized. He spoke on the theme “The Role of the LNBA in the Process of Peace Consolidation in Liberia.”The UN Coordinator said to have sustainable peace, “there is the need for the people and Government of Liberia to continue to respect the right and dignity of one another, promote access to justice, ensure inclusive and equitable growth, increase basic quality services for all, address the root causes of why Liberia went to war in the first place, and have capable institutions able to resolve conflicts and enforce laws. “In any country where the rule of law is not effectively administered, he narrated that injustice, violence against women and girls, corruption, and general criminality are more likely to occur with impunity.“It is imperative that Liberia’s observance of the rule of law is reinforced for the country to consolidate peace and realize the Sustainable Development Goals by 2030,” Hillo noted. “In other words, I am confident that the Bar will continue to be in the forefront of defending the rule of law, fundamental liberties and promoting access to justice; this duty is sacred.”He meanwhile informed his audience that the UN strongly believes that addressing the question of accountability is essential to achieving long-lasting peace and fostering full reconciliation.“There is widespread agreement that efforts to build sustainable peace in fragile states cannot succeed without establishing the rule of law, and that without peace, there cannot be development in any society. Peace consolidation cannot be fully attained without the promotion of the rule of law,” El Hillo noted.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

HST referendum ends this week

first_imgThe HST has dominated the political agenda for more than two years, stretching back to the 2009 election when the Liberals said they would not introduce it, then changed their minds.- Advertisement -Former premier Gordon Campbell paid for the debacle with his job, effectively hamstringing his successor from doing much else with her replacement government other than put a prettier face on the HST.Provincewide anger over the HST is barely simmering now, but the outcome of the results will have far-reaching results.A win means the government will take the potentially costly move to reduce the tax to 10 per cent in 2014, but a loss means having to repay Ottawa the $1.6 billion it gave the province to implement the tax.The result of the referendum is expected in late August or early September.Advertisement People who want to voice their opinion of the HST have only until the end of this week to make themselves heard by ensuring Elections BC has their referendum ballot. last_img read more