Current account deficit to narrow in Q1 as pandemic disrupts trade, tourism: BI

first_img“The third factor is that global restrictions, including the pilgrimage ban and foreign travel ban, have wiped out not only tourism revenue” but also prevented Indonesians from going abroad, he added.“This has reduced the use of foreign exchange for Indonesian tourists.”Indonesia booked a US$743 million trade surplus in March as export and import activities contracted slightly amid the COVID-19 pandemic, Statistics Indonesia (BPS) data shows.A total of $14.09 billion in exports was recorded in March, a 0.2 percent decrease year-on-year (yoy), while total imports fell 0.75 percent yoy to $13.35 billion driven by decreased imports of capital goods.The country’s tourism industry has been badly hit by the coronavirus pandemic. More than 1,260 hotels have closed in the country, affecting more than 150,000 employees, according to the Indonesian Hotel and Restaurant Association (PHRI).Topics : Bank Indonesia (BI) is projecting the current account deficit to reach 1.5 percent in the first quarter this year, lower than an earlier projection of 2.5 to 3 percent, as COVID-19 disrupts trade and tourism activities.BI Governor Perry Warjiyo said the current account deficit would remain lower than the initial projection this year based on three factors, namely a better-than-expected trade surplus, lower import costs and a decline in tourism activities.“The first factor is that imports fell much faster than exports because of slowing domestic production and weak global demand while the second factor is that import costs have become much cheaper due to reduced logistics and insurance costs,” Perry told reporters on Friday.last_img read more

Read More »

Sydneysiders being advised by their agents to invest their money in the Gold Coast

first_img1153/1 Lennie Ave, Main BeachMcGrath Surfers Paradise agent Craig Caughlan said the price differential was encouraging large numbers of Sydney and Melbourne investors to buy on the Coast, with four out of ten sales on the Gold Coast from interstate buyers. “About 80 per cent of interstate investors are buying units while homes are usually more popular for interstate buyers coming to settle down here,” Mr Caughlan said.“Sydney is getting to a point where buyers are having to go further and further out to the western suburbs.“Prices range from $1.5 million to $10 million anywhere close to the city but on the Gold Coast their cheapest is our most expensive and they find better value for their money here.” More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North7 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago15/64 Penkivil Street, Bondi.But on the Gold Coast buyers can nab a beachfront unit off the plan at Palm Beach’s latest development, The Jefferson, for a mere $525,000. Real Estate — 1153/1 Lennie Ave, Main BeachA REMARKABLE three for the price of one deal has Sydney buyers piling into the Gold Coast real estate market.Southern agents are advising investors their money is better spent on the Coast, where the average price for a unit in Surfers Paradise is $370,000 compared $1.041 million at Bondi — almost three times the price. The courtyard of a two bedroom Sydney unit.Mr Caughlan said while Broadbeach and Surfers Paradise were the main targets for interstate investors, Hollywell, Labrador and Main Beach were becoming hot spots.“The vacancy rates are about two per cent, tenants want to rent closer to the water and transport so these units are always popular,” he said. “The biggest driver for interstate buyers is the return they make.” 60 The Jefferson at Palm Beach is located on the beachfrontProminent Sydney agent John McGrath, of McGrath Real Estate, who is on the Gold Cost to host the 20th annual Australasian Real Estate Conference, is among those advising clients to look north.“I am still sending them north, I think this is still the place to be,’’ Mr McGrath said.“I think the value for money is compelling — you can still buy properties here in some instances for a third or a quarter of the equivalent in Sydney.“In Sydney now we are selling for $800,000 or $900,000 one-bedroom units and I look at that and I think well, you can buy one for a third of the price of that on the Gold Coast in an equally beautiful location, or you could buy a house on a canal for a similar money.’’A glimpse at properties on the market at realestate.com.au proves Mr McGrath’s point.In the middle of Sydney a luxury apartment at 18/155 Macquarie St comes with an eye-watering price tag of $4.7 million to $4.8 million. The 214 sqm apartment comes with three bedrooms adorned with crystal louvres. Further north, a two-bedroom, one-bathroom unit at 7/134-138 Ocean St, Narrabeen is on offer for $1.1 million to $1.2 million. 3277 Surfers Paradise blvd, Surfers Paradise.For the same price as a small unit in Sydney, buyers can live in luxury on the Coast in a stunning unit at 1153/1 Lennie Ave, Main Beach on the market for $1.225 million. 60 The Jefferson, Palm Beach.In the heart of Surfers Paradise, a two-bedroom, two-bathroom unit at 3277 Surfers Paradise Blvd is also on the market for $489,000. 7/134-138 Ocean Street, Narrabeen.Head down to Bondi and a dozen blocks from the beach is a stylish unit at 15/64 Penkivil St with “ocean glimpses” will set you back $1.475 million. A Bondi apartment will set you back millions.Harcourts Coastal agent Tolemy Stevens said, in the past 12 months, almost 80 per cent of luxury property sales along the beachfront have been sold to Sydney or Melbourne buyers.“These buyers tend to be very astute and already own a substantial home or multiple investments within their own state and now believe it’s time to look outside of their booming markets for better value and the next best option is the Gold Coast,” Mr Stevens said. “With the Commonwealth Games on the horizon and plenty of cranes in the sky, these buyers are aware that the Coast market is really hot.“They have a focus on absolute beachfront locations from Main Beach to Coolangatta as a safe bet over the next three to five years.”Mr Stevens said the appetite for luxury beachfront properties is currently at an highest and that demand is currently outweighing the supply.last_img read more

Read More »

Spurs going places – Holtby

first_img Press Association Holtby likens the Tottenham situation to the one Bayern Munich faced last season, when Jupp Heynckes managed to sustain a challenge on all fronts that eventually saw them complete a historic treble. “At Bayern Munich, everyone just did their work,” Holtby said. “The players were always patient and did their jobs for the team. “That’s why they won every title – and that’s how I see it here.” Holtby has no personal animosity towards Eriksen. Indeed, he has struck up a close personal friendship with the Dane, who was long touted as a potential Barclays Premier League player without anyone being willing to take a chance. “I get on very well with Christian,” Holtby said. “Off the pitch we do a lot of things. “On it when I get the opportunity I have to show that I can produce something. I need to keep working hard and putting on pressure. “It is going to be a very tough season because we have so many games. “I just saw the other day that we have eight games in December alone. People are going to get injured and we will need everyone.” The chances are Holtby will be back on the bench this weekend, though, when Chelsea visit White Hart Lane for a crucial Premier League encounter. While the result itself may not mean too much in terms of the title battle, a favourable outcome could generate a sense of belief in the Spurs camp that would push them a long way. “I don’t want to put that word in the mouth but we are aiming for very high things,” he said. “Chelsea is a massive game for us and a positive result can give us the confidence we need for the rest of the season. “We want to get in the top four. We want to play Champions League. That is the main aim.” In particular, the deadline-day arrival of Christian Eriksen from Ajax has closed off an avenue to Villas-Boas’ first-choice line-up, hence the Germany international’s selection for Tuesday night’s 4-0 Capital One Cup triumph at Aston Villa. Holtby could be forgiven for a sense of frustration at how events have conspired against him. He has no such feelings, though. Instead he is looking forward to the campaign with relish. “I wanted to come here,” he said. “I wanted to have this challenge. “I could have stayed at Schalke. I could have played there all the time. “But I wanted to fulfil my dream of playing for a top club in the Premier League. “I know Tottenham are going to do something big and I wanted to be part of it.” The 23-year-old quit Schalke for the lure of White Hart Lane in January. Holtby quickly established himself as a regular under Andre Villas-Boas, only for his status to be undermined by the huge amount of change Spurs have undergone to cope with the world-record exit of Gareth Bale to Real Madrid. Lewis Holtby has no regrets about hitching a ride on the Tottenham bandwagon because he is convinced they are destined for the very top.last_img read more

Read More »