VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

VOINews, Jakarta - Singapore expects muted prospects for its economy in the short-term amid global uncertainty, but the second half of 2024 should bring gradual improvement, its central bank said on Monday.

In its semi-annual macroeconomic review, the Monetary Authority of Singapore (MAS) said gross domestic product (GDP) growth, which veered on the edge of a technical recession in the middle of the year, should improve gradually next year while core inflation is expected to ease by December.

"The third quarter of this year likely marked the turning point in the slowdown," it said.

GDP growth was at 0.7% year-on-year in the third quarter of this year, according to advance estimates. The Asian financial hub narrowly avoided a technical recession, with the economy expanding 0.1% quarter-on-quarter in April to June following a 0.4% contraction in the first quarter of 2023.

"In the absence of renewed shocks or setbacks in the global economy, the Singapore economy should benefit as the global tech industry gradually emerges from its trough and global interest rates level off over 2024."

Meanwhile, MAS expects inflation to be on a broad moderating trend and slow to an average of 2.5–3.5% for 2024 as a whole.

Core inflation, which excludes private road transport and accommodation costs, has cooled from a 14-year high of 5.5% in January to 3.0% in September.

There are upside and downside risks to inflation, MAS said.

"Shocks to global food and energy prices or domestic labour costs could bring about additional inflationary pressures. However, a sharper-than-expected downturn in the global economy could induce a general easing of cost and price pressures."

Against this backdrop, MAS said the current appreciating path of the Singapore dollar nominal effective exchange rate, or S$NEER - is sufficiently tight.

The central bank kept monetary policy settings unchanged in April and October after tightening five times in a row from October 2021.

"The sustained appreciation of the policy band will continue to dampen imported inflation and curb domestic cost pressures, and thus ensure medium-term price stability," said the MAS. (Reuters)

VOINews, Jakarta - Minister of Trade Zulkifli Hasan sent off the inaugural exports of areca palms harvested in Lampung province and valued at over Rp542 million (US$34.1 thousand) to Saudi Arabia.

"These areca palms are an original commodity produced in Sumatra, which is home to a plethora of areca palms. In fact, we are currently in the harvesting season," he noted in Bandar Lampung city, Lampung, on Monday.

Minister Hasan said that the Ministry of Trade assisted in the export of the areca palms to Saudi Arabia.

"The initial destination of these areca palms was India. However, the country imposes tax at a too high rate and offers an unfavorable price. The tax is about 115 percent, so it is not possible to sell the areca palms to India," he disclosed.

Hence, farmers in Lampung tried to explore other potential markets for their areca palms and eventually zeroed in on Saudi Arabia, he added.

"Saudi Arabia has become the new export destination for the farmers. The value of the contract of the exports is quite high. However, the exports will be carried out gradually," he elaborated.

The minister noted that a total of 18 tons of areca palms have been exported by PT BUMR BiMU, a company assisted by the Trade Ministry.

Meanwhile, a representative from PT BUMR BiMU, Muhammad Arif Setiawan, informed that the areca palms originated from several regions of Lampung province.

"Most of the areca palms being exported today came from Tanggamus district, Pesisir Barat district, South Lampung district, and several other regions. The areca palms being transported to Saudi Arabia are of premium quality," he informed.

According to him, Lampung has been receiving export demand of 10–15 containers for areca palms each month.

However, Lampung must continue to improve the quality and productivity of its areca palms, he added.

"Non-premium areca palms will be sold to Bangladesh and Pakistan," Setiawan said. (Antaranews)

VOINews, Jakarta - The National Alms Agency (Baznas) distributed humanitarian aid worth Rp12 billion to help victims of the conflict in Gaza, Palestine, due to Israeli aggression.

"We disbursed the assistance through three channels, namely the Foreign Affairs Ministry, the Baznas network in Egypt, and Baznas network in Jordan," Chairman of Baznas, Noor Achmad, noted in a press conference on Monday.

Achmad remarked that the assistance will be distributed in several stages. For the first stage, his side will disburse assistance worth Rp3 billion and send it through two channels, namely Rp1.5 billion through the Foreign Affairs Ministry and another Rp1.5 billion through the Indonesian Embassy in Cairo via the Rafah Route.

"The first batch via the Foreign Affairs Ministry will be sent via Hercules aircraft, consisting of five tons of aid," he remarked.

The aid distributed includes food ingredients, such as rice, milk, corned beef, sardines, instant noodles, and other food items, Achmad noted.

This is then followed by assistance for meeting basic needs, such as blankets, gloves, diapers, sanitary napkins, baby food, medicine, and solar panels, he revealed.

Baznas collaborates with Amil Zakat Institution (LAZ) partners and individual collection partners throughout Indonesia to collect donations for Palestinians.

"We are carrying out a fundraising campaign for Palestine through various channels," he remarked.

Baznas also invites Indonesian people to donate and pray for the safety of Palestinians, who are still under Israeli attack. Assistance can be distributed via the baznas.go.id page or by visiting Baznas RI representative offices in the regions directly.

The war between Hamas, a Palestinian militant group, and Israel reignited on October 7, 2023, when Hamas launched a massive attack on Israel from the Gaza Strip. Until now, the war continues, with casualties reaching eight thousand lives, including more than three thousand children who died. (Antaranews)

VOINews, Jakarta - Foreign Affairs Minister Retno Marsudi discussed the worsening situation in the Gaza Strip due to the latest Israeli-Palestinian conflict during a bilateral meeting with Lithuanian Foreign Minister Gabrielius Landsbergis on Monday.

During the meeting, Marsudi invited Lithuania to join in the call for an immediate end to civilian attacks and provision of sustainable, safe, and smooth humanitarian assistance for victims.

"In 3 weeks, more than 7 thousand people were killed in Gaza, 68 percent of them (were) women and children. Are these numbers not enough to stop the killings, and initiate an immediate and long-lasting humanitarian truce leading to a cessation of conflict?" she asked.

She then emphasized that all countries must defend justice and humanity.

"For this matter, Israel's illegal occupation of Palestinian land must be ended based on internationally agreed parameters," she added.

In response to her invitation, Minister Landsbergis said that Lithuania and Indonesia are countries that adhere to international regulations to guarantee security and prosperity.

He noted that global communities are also facing challenges due to the war between Russia and Ukraine, and the latest conflict in the Middle East could lead to other crises in the future.

"Any disruption to the international order causes harm and impacts us all," Landsbergis said.

Israel launched strikes against Gaza on October 7, in retaliation to cross-border attacks by the Palestinian militant group Hamas, which killed 1,400 people. The group also took around 200 people hostage.

Meanwhile, the number of Palestinians killed in Israeli attacks on Gaza increased to 8,005, including 3,342 children, 2,062 women, and 460 elderly, according to their Health Ministry.

The United Nations General Assembly on October 27 approved a draft resolution calling for an immediate, long-lasting, and sustainable humanitarian truce in Gaza.

The draft resolution received 120 votes in favor, including from Indonesia, while Lithuania was one of the 45 countries that abstained from voting. Fourteen countries rejected the resolution.

The resolution condemned "all acts of violence aimed at Palestinian and Israeli civilians, including all acts of terrorism and indiscriminate attacks, as well as all acts of provocation, incitement, and destruction."

The resolution also demanded that "all parties immediately and fully comply with their obligations under international law," and called for the "immediate and unconditional release of all civilians held hostage illegally."

The UN resolution also highlighted the importance of "preventing further destabilization and escalation of violence in the region." (Antaranews)