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Indonesia has been refocusing its state spending to fund the fight against the COVID-19 pandemic with a cash-strapped budget. The government has allocated Rp 405 trillion (US$25.79 billion) of funding for the pandemic budget, causing state spending to increase by nearly 3 percent to Rp 2.6 quadrillion while revenue is expected to slump by 21 percent to Rp 1.7 quadrillion.Luhut expected the privately funded projects could continue their development and absorb workers while contributing to the country’s foreign exchange reserves.A project included in the PSN list will be granted an easier licensing process and accelerated land procurement, as well as government guarantees on any political risks.Septian Hario Seto, the Office of the Coordinating Maritime Affairs and Investment Minister’s acting deputy head for investment coordination and mining, said that two of the proposed 11 new projects were an industrial zone and an industrial park. The Obi Island Industrial Zone in South Halmahera regency, North Maluku, he said, had almost 2,000 workers and it already had a phase-two rotary kiln-electric furnace (RKEF) smelter for ferronickel production with an estimated investment of $800 million.“The significant development [in the industrial zone] will be the high-pressure acid leaching [HPAL] smelter construction, which will be completed in the third quarter of 2020,” he said, adding that the investment for the smelter was estimated at $1 billion.The HPAL smelter produces material for lithium batteries, cobalt sulfate and nickel sulfate.Septian went on to say that the second suggested project for the PSN was the Weda Bay Industrial Park project, where a smelter operation was halted due to the coronavirus outbreak. The plan for its 2020 investment was around $4 billion to $5 billion while exports were estimated to reach at least $2 billion by 2024.The other nine projects are six smelter projects, one coal-to-methane processing area in East Kalimantan, a methane industrial area and the construction of the Kediri-Tulungagung toll road in East Java.“The projects’ investors are being financially evaluated to make sure they can finish the projects by 2024 and be included in the PSN,” he said.Coordinating Economic Minister Airlangga Hartarto said there were currently 232 new project proposals to be included in the PSN, 84 of which were proposed by ministries, 123 projects by regional governments and 17 by state and regional-owned enterprises (BUMN/D) and eight projects by private sector investors.At the same time, the government has scrapped 10 projects from the PSN list as their estimated completion times are beyond 2024, the year when President Joko “Jokowi” Widodo’s second term will end. (eyc)Topics : The government has been assessing 11 new infrastructure projects to be included in the National Strategic Projects (PSN) in a bid to attract investment and create jobs.”I had a discussion with the coordinating economic minister as we want to assess which projects [in the PSN] can be funded by the private sector, so that we won’t just rely on the state budget,” Coordinating Maritime and Investment Minister Luhut Pandjaitan told a webstreamed coordination meeting on Wednesday, as quoted in the statement. His office did not elaborate on projects that might need to be scrapped.“Hopefully we can move fast given the current situation caused by the pandemic,” he said.
Edward Jones has made the Fortune 500 list for the second consecutive year. The financial services firm is moving up on the annual FORTUNE 500 list, as published by Fortune magazine.Foetune magazine’s annual listing ranks the largest U.S. companies byrevenue. Edward Jones moved up to 444 on this years list, up 47 spotsfrom No. 491, with more than $5.7 billion in revenue for 2013.“Our success comes from making a significant difference to our clients,”said Edward Jones Managing Partner Jim Weddle. “We offer personal serviceand a solutions-based approach that is tailored to their individual needs,but backed by all the resources of a Fortune 500 firm.”Edward Jones has offices locally including on 111 S. Main St. in Batesville.
Manchester City centre-back Eliaquim Mangala is confident the team will resolve their defensive problems before next week’s season opener. The Frenchman told the club’s website, www.mcfc.co.uk: “I think what happened against Madrid and Stuttgart rang one or two alarm bells and maybe showed we have to change something and be aware, because we can’t play the way we did in those two games against West Brom or we’ll get punished. “That’s why they were valuable games for us, but the fact is that it is better to find out in pre-season friendlies than in the Premier League because the results are not as important. “It also gives us an idea of the areas we need to work on and improve. Everything is focused on our first game against West Brom and by Monday, we’ll be ready and focused.” Mangala had a mixed season after his £42million move from Porto last summer but ended the season well by helping keep four clean sheets in a run of six successive wins. The 24-year-old said: “I am focused on the season ahead and I want to play my part to the full. I know I need to improve and show my best game every time I play and that’s what I intend to do.” Press Association City’s back line has looked vulnerable during pre-season with Manuel Pellegrini’s men losing 4-1 to Real Madrid last month and conceding another four in the first half in Saturday’s defeat at Stuttgart. Defensive frailties were a recurring issue last season and Mangala acknowledges improvement is needed before City begin their 2015-16 Barclays Premier League campaign at West Brom next Monday.
“Big institutional actors end up playing a massive role in that process,” Moya said. “As they expand out, it puts massive upward pressure on home prices.” Since she moved, the building has been remodeled and cleaned. It was infested with cockroaches while she lived there. She also said that the rent for her old apartment before leaving had tripled. Lopez said she will continue speaking out to help people in the community find affordable housing options. She encouraged people to continue pushing for reform and legislation around equitable prices and just housing conditions. Through the workshop, Ramirez, 45, and Rosales, 46, were able to meet with Noah Grynberg, an attorney from the Los Angeles Center for Community Law and Action. Ramirez and Rosales said meeting with Grynberg gave them hope for their future at 28th and Maple streets and that they plan to meet again Tuesday to discuss the details of their case. He said that because LACCLA primarily operates in East Los Angeles, he hasn’t worked with people impacted by evictions and gentrification around University Park Campus. But as the Health Sciences Campus doubles down on its 25-year plan to expand by over 3 million square feet into the surrounding Boyle Heights neighborhood, he expects to see more cases like that of Ramirez and Rosales. When Olga Ramirez and Guilibaldo Rosales received a five-day eviction notice Friday from the home they’ve lived in for nearly 12 years, they had no idea USC was partly responsible for their misfortune. Moya said he views displacement around USC’s campuses as part of a broader issue pervading the United States in the last 30 years, in which the growing appeal of urban environments has raised rent prices and pushed local residents out of homes they can no longer afford. René Christian Moya, director of Housing is a Human Right — the housing advocacy division of the AIDS Healthcare Foundation — led a discussion with event organizers and local residents about the causes of displacement and gentrification. Multiple organizations spoke about the possible actions USC could take to minimize the continuing effects of gentrification. (Josh Dunst/Daily Trojan) Moya also spoke about the Anti-Tenant Harassment Ordinance, a bill that he said is still being reviewed by the Los Angeles City Council. He said landlord-tenant harassment exemplifies some of the auxiliary effects of unregulated gentrification, which USC has the ability to mitigate. Jackelin Lopez lived on Exposition Boulevard for seven years before getting evicted after the building’s new owners decided to renovate it for USC students. While she was able to find a new home in Mid-City, she said it is smaller and more expensive. “Traditionally [LACCLA hasn’t] dealt a lot with USC and with its impact on poor people in the city,” Grynberg said. “We’ve always been aware of USC and its impact on the cost of housing, but we are sort of acutely aware of it now.” Multiple organizers told the crowd USC could lessen the effects of gentrification in the surrounding communities by lobbying for tenant protection, providing more on-campus housing for students and engaging with tenants face-to-face. “Now I’ve woken up. Because of the lawyers I know that I have rights, that we’re still here and that the struggle is going to continue well after my case is over,” Castillo said in Spanish. “The seed has already been planted and now we’re watching it grow.” Moya emphasized the differences between USC and universities like UCLA and Stanford, which, unlike USC, are not located in primarily non-white, lower class neighborhoods. “Gentrification and the housing crisis are not like hurricanes,” Moya said. “These are man-made social problems that can be resolved through social policy [and] political action.” Earlier in the day, nearly 30 protesters from USC Forward, ACCE and other organizations discussed their experiences with eviction and gentrification and what solutions they expect USC to implement moving forward. Grynberg emphasized the importance of local residents using their political power to push back against the University, but said change could take months or even years. Veronica Castillo, a tenant from East L.A., was told in 2017 that she would need to leave her home by 2020 so that the building could be turned from low-income housing into student housing. The landlord told her she could only stay if she was willing to pay $2,800 each month — an increase of about $1,300. Grynberg said that while LACCLA works with organizations that have dealt with USC in the past — like the Alliance of Californians for Community Empowerment, which was present Monday — his organization was only introduced to problems like those facing Rosales and Ramirez about a month ago. “There’s no other country in the world that does university like the way that we do, where it walls off the student community from the rest of the urban area,” Moya said. “You get a lot of students around here who are extremely complacent, who don’t actually see themselves as part of the community, they see themselves as part of something alien.” It wasn’t until their neighbor, Lisa Pulgarin, brought them to an informal tenants’ rights workshop Monday that they learned about USC’s widespread role in gentrification and rising housing costs. The workshop was held by USC Forward and other local organizations that are spending the week protesting USC’s displacement of local communities as a result of the University’s expansions into East and South Los Angeles, among other issues. “We will try to prevent as much displacement as we can,” Grynberg said. “But the way to do that is getting tenants to really exercise serious political power to change the behavior of politicians, developers [and] universities.” “That person who evicted us was evicting people with families, was evicting people with disabilities, threw kids out onto the street, people who had nowhere to go,” Lopez said in Spanish. “That person didn’t even have the decency to offer relocation money and assure that we had a place to go after we were evicted.” When she went door-to-door talking to neighbors about fighting the evictions and asked for help from LACCLA lawyers, she faced pushback from the landlord, who reduced her parking spaces and accused her of various violations. Sergio Vargas, the District 9 organizer at ACCE, told stories of other local tenants who couldn’t make it to the event, but are also being pushed out of their homes due to increasing rents and poor living conditions, including mold and insect infestations. “Talking about infrastructure, how beautiful it looks around here and you go down [Martin Luther King Boulevard] and it’s just broken sidewalks … potholes everywhere, so that’s why we are here,” Vargas said. “We want USC to be a better neighbor, to be able to help out the community.”