VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The European Union on Friday welcomed a US plan for a transitional government in Venezuela and subsequent lifting of economic sanctions. Washington last month suggested that both hard left President Nicolas Maduro and his rival Juan Guaido -- previously backed by the US -- step aside in favour of a transitional administration made up of members of both their parties. As quoted by AFP.com (04/4) the shift in US tactics came as fears grow that the coronavirus pandemic will spread rapidly both inside and from Venezuela, an oil-wealthy nation now crumbling in an economic crisis. EU's diplomatic chief Josep Borrell said in a statement on behalf of all 27 members of the bloc that the European Union takes positive note of the Democratic Transition Framework on Venezuela proposed by the United States//AFP

President Vladimir Putin on  Friday said  Russia is ready to cooperate with Saudi Arabia and the United States to cut oil production. As quoted by AFP.com (04/4) Putin said Russia was willing to make agreements within the framework of the OPEC+ group and that "we are ready for cooperation with the United States of America on this issue. Putin believes that it is necessary to combine efforts in order to balance the market and reduce production.Oil prices have tumbled in recent weeks in the face of a drop in demand and global economic uncertainty over the new coronavirus pandemic.Last month, OPEC and its allies failed to reach a deal on oil production cuts after OPEC+ leader Moscow refused to tighten supply to counter the effects of the coronavirus outbreak. Speaking with Energy Minister Alexander Novak via conference call, Putin said Russia was prepared to discuss "a reduction in the volume of about 10 million barrels a day, a little less, maybe a little more//AFP

The latest Asian Development Bank (ADB) report projects that Indonesia’s economy will slow down or only record a growth of some 2.5 percent in 2020, down from five percent in 2019 over the COVID-19 pandemic. Although Indonesia has a strong macroeconomic foundation, the ongoing COVID-19 outbreak has changed the direction of the country's economy, with deteriorating external environmental conditions and weakening domestic demand, ADB Director for Indonesia Winfried Wicklein, noted in a statement in Jakarta on Friday as quoted by Antara. Domestic demand is expected to weaken in line with declining business and consumer sentiment. However, in tune with the recovery of the world economy next year, Indonesia's growth is projected to gain momentum, bolstered by reforms in the investment sector//ANT

The price of crude oil surged again Friday after OPEC said it would talk to non-members, notably Russia, giving investors hope for an end to a price war which has created market chaos along with crushed demand because of the coronavirus.As quoted by AFP.com ( 04/4) OPEC oil producers and their allies will meet Monday via video conference, a source close to the cartel said. And Russian President Vladimir Putin said his country was ready to cooperate with Saudi Arabia and the United States on a production cut. OANDA analyst Craig Erlam told AFP that there's certainly a lot of optimism that a deal is going to be done.Despite the happy talk in the oil sector, global stock markets fell following another set of devastating American employment numbers, gloomy eurozone services data and news that the number of declared COVID-19 infections passed one million worldwide//AFP