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July
July
Dollar set for weekly gain as traders weigh US rates, yen steady
Written by nuke Published in International News
U.S Dollar banknotes (Photo : Matatelinga) -
VOInews, Singapore : The dollar was poised to snap a two-week losing streak on Friday as traders pondered the U.S. rates outlook, while the yen was steady after inflation in Japan accelerated for second month in a row, keeping the prospect of a rate hike there on the table.
The U.S. dollar was on the front foot in Asian hours after a stormy week that saw the yen, euro and sterling make significant gains against the greenback as investors fully price in a rate cut from the Federal Reserve as soon as September.
The yen was at 157.35 per dollar after touching a six-week high of 155.375 on Thursday in the wake of suspected interventions by Tokyo last week that could total nearly 6 trillion yen ($38.14 billion), according to data from the Bank of Japan.
Data on Friday showed core consumer prices in Japan rose 2.6% in June, keeping alive market expectations that the central bank could soon raise interest rates.
The BOJ exited negative rates and bond yield control in March, in a shift away from a decade-long radical stimulus programme, with markets warming to the idea of a rate hike at its meeting at the end of the month.
Traders are pricing in a 41% chance of a 10 basis point hike.
The yen has fallen more than 10% against the dollar this year, weighed down by the wide difference in interest rates between the U.S. and Japan and languished around 38-year lows at the beginning of the month, spurring suspected moves by Tokyo.
"While suspected interventions do not seem to stabilize the yen, we believe monetary policy might," said Krishna Bhimavarapu, APAC economist at State Street Global Advisors.
"The time is coming for decisive action from the BoJ, and today's higher inflation has only made it more plausible."
In the U.S., data showed the number of Americans filing new applications for unemployment benefits rose more than expected last week, though there was no material shift in the labour market.
The dollar index , which measures the U.S. currency against six rivals, was 0.1% higher at 104.24, up from a four-month low of 103.64 it touched on Wednesday. The index is set for a 0.17% gain for the week after two weeks of losses.
The Fed is scheduled to meet at the end of July, when markets anticipate a very low chance of the central bank cutting rates. Traders are pricing in 62 basis points of easing this year.
"I think there's a lot of different crosswinds and tug of war that markets are facing right now," Michael Wan, senior currency analyst at MUFG, referring to rising bets of the Fed cutting rates coming at the same time investors are bracing for a potential victory by Republican presidential candidate Donald Trump.
Markets have reacted to the prospect of a Trump presidency by pushing the dollar higher and positioning for a steeper Treasury yield curve.
Meanwhile, the euro was little changed at $1.08880 after a 0.4% drop in the previous session as the European Central Bank kept rates steady and gave no insight into its next move.
The single currency had touched a four-month high of $1.0947 on Wednesday, recouping all the losses of the past few weeks when it came under pressure from uncertainty about the French election.
Sterling was last flat at 1.2941 after a 0.5% slide in the previous session as data showed wages in Britain grew at a slower pace, but was still strong enough to keep doubts about a rate cut from the Bank of England afloat.
In other currencies, the Australian dollar eased to $0.6702, while the New Zealand dollar was 0.26% lower at $0.60295.
The Aussie and the kiwi were set for a more than 1% drop for the week as a high-level meeting in China failed to yield any forceful stimulus steps and the popular carry trades using the yen as funding currency unwound.
($1 = 157.3200 yen)//Reuters-VOI
19
July
July
Indonesia will host the Free Fire World Series SEA 2024 Fall
Written by nuke Published in Indonesia Today
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Free Fire game publisher and developer, Garena, announced that the Grand Finals of the Free Fire World Series Southeast Asia (FFWS SEA) 2024 Fall will take place in Surabaya. ANTARA/HO-Garena Indonesia/pri -
VOInews, Jakarta : Free Fire game publisher and developer, Garena, announced that the Grand Finals of the Free Fire World Series Southeast Asia (FFWS SEA) 2024 Fall will take place in Surabaya.
This news has become new motivation for the teams competing in FFWS Indonesia 2024 Fall, who are struggling to maintain their hopes of qualifying as the fifth Indonesian representative in the Southeast Asia-scale international tournament with one week remaining in the Knockout Stage.
"The news that the FFWS SEA 2024 Fall Grand Finals will be present in Surabaya really adds motivation for not only me and Thorrad, but also for all the teams at FFWS ID 2024 Fall. As the host, Indonesia must win because we both adhere to the principles "Guests are not allowed to win here," said Thorrad's coach, Salman Alfa Risiy alias MANTED, in a statement received in Jakarta, Thursday.
The same thing was conveyed by Thorrad player Jonathan Cahyono alias JOJOOO15. According to him, this momentum must be utilized optimally to return Indonesia's name to the list of Free Fire international tournament champions.
"Basically, the FFWS SEA 2024 Fall in Surabaya, the Indonesian team must win. The last time Indonesia won when they were hosts (FFAI 2019). So, this time Indonesia must win too," said Jonathan.
FFWS ID 2024 Fall will soon enter Week 3 and the final week for the Knockout Stage. Teams that are able to finish in the top 12 of this round will qualify for the Point Rush and Grand Finals rounds which will be held in Sabuga, Bandung on 27-28 July 2024.
The winner of FFWS ID 2024 Fall will get one seat to join four other teams to represent Indonesia at FFWS SEA 2024 Fall.
Currently, Thorrad is still ranked 14th in Overall Standing FFWS ID 2024 Fall until week 2. They are 24 points adrift of the community team, Twich is One, which is ranked 12th with a total of 203 points.
MANTED and JOJOOO15 as former champions of the Free Fire Master League (FFML) Season 6 will work hard to ensure they are included in the top 12 teams to qualify for the FFWS ID 2024 Fall Grand Finals.
Not only for Thorrad, the Morph Team, which is currently ranked 11th in Overall Standing with a total of 210 points, also considers the presence of FFWS SEA 2024 Fall in Surabaya to be additional motivation in itself.
Morph Team Coach Laurentius Ade Putra alias LORENZ said Surabaya would be the right moment for him and his team to lift the trophy and make Indonesia proud.
"Hopefully the Morph Team is destined to win (at FFWS ID 2024 Fall) so they can play at FFWS SEA 2024 Fall as one of Indonesia's representatives," said Laurentius.
"The last time Morph Team took part in an international tournament, it was played in Indonesia but in a hybrid (Free Fire SEA Invitational 2023). I'm sure the euphoria in Surabaya will definitely be more lively, definitely bigger than the previous Surabaya for the FFWS ID 2024 Spring Grand Finals. "
Until Week 2, FFWS ID 2024 Fall belonged to Kagendra who succeeded in taking over the top position from MBR Epsilon's grasp.
With a total of 137 kills and an additional five Booyahs in Week 2, Kagendra now leads Overall Standing with a total of 447 points.
Meanwhile, MBR Epsilon was pushed to second place with a total of 394 points after collecting 82 elimination points and one Booyah that week.
Apart from the competition between Kagendra and MBR Epsilon, Vesakha Esports is also one of the most promising teams in the top flight. This team was able to set a record by scoring 84 elimination points on the fourth day of FFWS ID 2024 Fall.
The jumbo points tally became the most productive team in Week 2 with a total of 144 points eliminated. With an additional 74 elimination points, this team was able to rise from seventh place in Week 1 to fourth place.
Vesakha Esports Coach Yudha Firdianto alias JIMMY said that the team's hard work and collaboration was the key to their performance in Week 2 of FFWS ID 2024 Fall.
He wants his team to maintain focus on becoming champions in the FFWS ID 2024 Grand Finals so that they can qualify. Vesakha can qualify for the FFWS SEA 2024 Fall and compete in Surabaya later.
"FFWS SEA 2024 Fall in Surabaya is a double motivation for all of us, especially for me personally, because Surabaya is my hometown," said Yudha.
"If I get the opportunity to play in FFWS SEA 2024 Fall, I want to be with the Vesakha Esports team to prove that Suroboyo areks can have a lot to say on the international Free Fire scene."
FFWS ID 2024 Fall Week 3 Knockout Round will be held on 19-21 July 2024 via the YouTube, Facebook, TikTok Free Fire Esports ID channels at 16.00 WIB//ANTARA-VOI
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July
July
OIKN shares findings on education sector improvement in Nusantara
Written by nuke Published in Indonesia Today
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File - Students are seen in class at a high vocational school not far from the construction project for the new capital city, Nusantara, in Penajam Paser Utara, East Kalimantan, on October 11, 2022. (ANTARA FOTO/Rivan Awal Lingga/rwa) -
VOInews, Jakarta : The Nusantara Capital Authority (OIKN) shared on Thursday the results of a study on the development of the education sector in Nusantara Capital City (IKN), East Kalimantan.
"We continue to improve and develop the education sector to increase the quality of education, which has a positive impact on society," said Alimudin, OIKN's deputy for sociocultural and community empowerment.
A number of researchers and education observers have conducted research and training to prepare an educational roadmap for eight educational units in Nusantara and its surrounding areas.
The results of the study were disseminated to school heads and supervisors, teaching staff, teachers, and educational staff.
An educational roadmap for all levels of education in Nusantara is very important to ensure schools do not find it difficult to innovate. Education in the new Indonesian capital will be based on the needs of students.
The OIKN will also increase the number of vocational schools to produce work-ready human resources.
The authority will align education with partner regions, thereby carrying out an education process that is slightly different from the current one.
"Education methods in the new capital city must be in harmony with partner or buffer regions so that there is no imbalance in human resources," Alimudin stressed.
He added that the OIKN prioritizes helping local residents compete by accelerating improvements in the quality of education in Nusantara//ANTARA-VOI
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July
July
Jenelata Dam boosts flood control and water security in Makassar: PUPR
Written by nuke Published in Indonesia Today
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The Ministry of Public Works and Public Housing (PUPR) is constructing Jenelata Dam in Gowa district, South Sulawesi, to optimize flood control in Makassar city. (ANTARA/HO-Kementerian PUPR) -
VOInews, Jaarta : The Ministry of Public Works and Public Housing (PUPR) is building the Jenelata Dam in Gowa district, South Sulawesi, to optimize flood control in Makassar city in the province.
PUPR Minister Basuki Hadimuljono said that the construction of dams and reservoirs for water storage in various regions of Indonesia is a real effort to overcome the threat of climate change, especially extreme weather.
Hadimuljono noted that the government has increased water storage, both in reservoirs and dams, to face the threat of climate change.
"We prioritize dams so that during the dry season, there are still quite large water reserves. And in the rainy season, it can become sufficient storage that effectively restrains flood discharge," Hadimuljono explained in Jakarta on Thursday.
The construction of the dam is primarily aimed at optimizing flood control in Makassar city, which has so far solely relied on Bili-Bili Dam, which has a capacity of 375 million cubic meters and was completed in 1997, for the purpose.
The largest dam in South Sulawesi, Bili-Bili Dam is no longer adequate for holding water to control floods when there is heavy rainfall, as seen in 2019, when the impact of flooding was felt in Makassar city.
Jenelata Dam is expected to help hold back the overflow from Jenelata River, which flows down to Jeneberang River, so that it can supplement Bili-Bili Dam, which also dams the upstream Jeneberang River, in flood control.
It is hoped that Jenelata Dam will be more optimal in reducing flooding in Makassar city and supporting water needs during drought.
Jenelata Dam will also function as a source of irrigation water for 26,773 hectares (ha) of agricultural land: 2,400 ha in the Bili-Bili Irrigation Area (D.I), 13,916 ha in D.I. Bissua, and 10,457 ha in D.I. Kampili.
The dam will also serve as a source of water supply with a capacity of 6.05 cubic meters per second for Bili-Bili, Jenelata, sugar factories, and sugar cane fields in Takalar, and the Sungguminasa Intake.
With a storage capacity of 223.6 million cubic meters, the dam also has the potential for hydroelectric power generation of 7 MW as well as water and culinary tourism.
The construction work on the dam is being carried out by PT Adhi Karya (ADHI) along with PT Wijaya Karya and China's KSO CAMC Engineering Co. Ltd. The value of the construction contract is pegged at Rp4.1 trillion (253.5 million US dollars).
Construction work on the dam has been carried out since October 2023 and is planned to be completed in 2028, with work on the excavation of the main dam and spillway area currently underway//ANTARA-VOI