More than 15 tons of medical supplies and medicines from China arrived in Venezuela

This Tuesday, more than 15 tons of medical supplies and medicines arrived on a flight of the Venezuelan Consortium of Aeronautical Industries and Air Services SA (Conviasa), through the air bridge established between Caracas and Beijing, as part of international cooperation and the brotherhood of both peoples in the fight against COVID-19.

This is the eighth flight that arrives in the country in recent months loaded with medicines and medical supplies that already add more than 250 tons from this Asian power, through the agreement between both nations, which is not only commercial, but based on cooperation and brotherhood of peoples, highlighted the Minister of Popular Power for Health, Carlos Alvarado.

The 15 tons of supplies and medicines include:

300 thousand rapid tests for coronavirus diagnosis.
200 thousand kits for PCR tests.
30 thermocyclers.
More than 105 thousand units of drugs for intensive therapy, mainly oriented to the treatment of COVID-19.
55 ventilators (transfer and ICU)
50 oxygen concentrators

The ambassador of the People’s Republic of China in Venezuela, Li Baorong, highlighted in the coming months both countries will work on the cooperation of anti-COVID-19 vaccines, when those developed by the Asian giant are approved for mass distribution, as he emphasized that Venezuela is a strategic partner of China.

Source: VTV

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Horrible Delicious Bank Stock Collection BOOK I, Want To Try?

Jakarta, CNBC Indonesia The Financial Services Authority (OJK) stated that there will be many BUKU I banks (business group commercial banks, with a core capital of IDR 100 billion-IDR 1 trillion) that will merge to meet the minimum capital requirement of IDR 1 trillion this year and IDR 3 trillion in 2022. .

What is the potential for bank stocks with insufficient capital to carry out this corporate action?

Is it better to look from the side, or is it better to try your luck and get into these stocks while their status has not been upgraded from BUKU I Bank to BUKU II Bank (core capital IDR 1 trillion-IDR 5 trillion)?

“Horrified delicious”, perhaps the phrase popularized by the late politician Sutan Bhatoegana is the most suitable to describe the potential and risk of collecting shares in Bank BUKU I.

The horror of collecting BUKU I Banks is due to the OJK ultimatum that if BUKU I banks cannot meet the core capital requirement of more than IDR 1 trillion by the end of the year, the bank will bedowngrade became the People’s Credit Bank (ACA).

This will create new problems because according to OJK regulations, BPRs cannot be owned by foreign investors so that the status of this downgraded bank in the capital market will be a question mark?

Will the regulator later provide a special notation for shares that cannot be purchased by foreign investors and foreign investors who have already entered must be bought back by the company?

Or forced to sell their stake in the market?

Everything is still a question mark.

In fact, it is not impossible that the downgraded bank shares will be ‘kicked’ from the alias stock exchange delisting.

When di-delisting of course investors will lose big because when this happens involuntary delisting then the issuer does not have to buyback public shares, so that later your shares will be converted into scrip and cannot be transacted again on the IDX.

Horrible isn’t it?

But do not forget there is a sweetness behind this horror.

The pleasure of collecting mini bank shares is when it turns out that there are strategic investors who have injected funds and it turns out that these investors are big-scale investors, then it is not impossible that the bank’s share price will jump hundreds of percent.

Take, for example, the shares of PT Bank Jago Tbk (ARTO) which used to be called Bank Artos.

ARTO shares had soared 3,416% or 34 times its highest level after the company reported startup Gojek giants will be ARTO’s strategic investors.

Based on CNBC Indonesia’s records, several banks that are chasing additional capital obligations if they don’t want to go down class include BPD Banten, BPD Central Sulawesi, BPD Lampung, PT Bank Harda Internasional Tbk (BBHI), PT International Business Bank Tbk (BBSI), PT Bank Pembangunan Daerah Banten Tbk (BEKS), Bank Fama, and BPD Bengkulu.

This means that there are three shares of BUKU I Bank whose shares can be collected by risk-loving investors, namely BBHI, BBSI, and BEKS.

Bank Harda only has core capital of IDR 272.03 billion as of June 2020. Thus, in the next 2 months, the company is required to increase its capital of at least IDR 728 billion.

WhereYemen BBHI senot yet revealed that they are still in the process of exploring with several strategic investors who are ready to inject capital into the company this year.

“The total must be Rp 1 trillion, now the core capital is around Rp 300 billion. There is also an OJK regulation regarding consolidation,” he said. Director of Bank Harda, Harry Abbas, to CNBC Indonesia.

The plan to increase Bank Harda’s capital is targeted to be realized this year, but it has not been able to provide information related to potential strategic investors.

As for the company’s Business Bank next month will ask for permission from the EGMS to do so right issue which will be held before the end of the year to meet the core capital obligations of the OJK.

Long story short, if you are a conservative investor who puts his funds in good fundamental stocks that have bright business prospects, mini bank stocks are not for you.

However, if you are an investor who likes to speculate and think that the benefits that will be obtained when collecting these small banks are greater than the risks, then Book I bank shares may be for you.

But again, it’s all back on the investment horizon, and your budget.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]

(trp/trp)


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First estimates: Shanghai Pudong Development Bank presents quarterly results | 16.10.20

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ANALYSIS FLASH: Baader Bank leaves Evonik on ‘Buy’ – target EUR 26.50 | 10/15/20

You are now leaving the finanzen.at website and will be redirected to the Onvista Bank website. Please note that the exchange rate data given on finanzen.at may differ from those on the Onvista Bank website. You should therefore check all the data carefully before you buy or sell on the Onvista Bank website.

The content of external websites to which reference is made here directly or indirectly (through “hyperlinks” or “deep links”) is outside the area of ​​responsibility of Finanz.net GmbH and is not adopted by it. This also applies to stock market, financial and other price-sensitive information that is transferred to these websites online in real time or with a time delay from the systems of external providers.

The offers of further websites are aimed at interested parties and customers in Austria. The offers on these additional Internet pages are expressly not aimed at persons in countries that prohibit the provision or access to the content posted therein or require permission to display them, in particular not to US persons within the meaning of Regulation S of the US Securities Act 1933 as well as internet users in Great Britain, Northern Ireland, Canada and Japan. Each user is responsible for finding out about any restrictions before calling up the website and for complying with them.

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BRI Syariah, Mandiri Syariah and BNI Syariah Merger, Rename Bank Amanah?

DIY NEWS – The government has yet to decide on the official name of the merger of the three banks BUMN sharia whose process had just started on Monday, 12 October 2020, through a signing Conditional Merger Agreement or CMA.

Head of the Project Management Office Team as well as Deputy President Director of PT Bank Mandiri (Persero) Tbk Hery Gunardi said that the government as the shareholder is still thinking about the name of the bank which is predicted to become a bank. sharia the largest in the country.

“Of course, because there are three banks in one, maybe we also want that this bank can” go international “,” go global “, and have strong legs in the domestic market. Most likely the shareholders will later think of a name that can have a” value proposition ” in the international world, of course this is also a “common” name in banking sharia. But not yet, we are thinking about the name, “said Hery as quoted by Antara, Wednesday, October 14, 2020.

Also Read: Prices and Complete Specifications for HP iPhone 12 and iPhone 12 Mini Launched Today

Three banks Association Bank State (Himbara) namely PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, and PT Bank Negara Indonesia (Persero) Tbk has signed a Conditional Merger Agreement (CMA) related to the plan to merge commercial banks sharia together with three banks sharia belong to Himbara.



Government of Indonesia through the Ministry BUMN combine all three banks sharia Himbara so that Indonesia as the country with the largest Muslim population in the world can have a bank sharia large and able to help optimize economic and financial potential sharia nationwide, also strengthen the halal industrial ecosystem.

The result of the merger of these banks has the potential to become 10 banks sharia top globally by market capitalization.

Also Read: These are the Terms and Ways to Get IDR 5 Million Free Money from Telkomsel for 10 People, Last Tomorrow!

This is also part of the government’s efforts and commitment to make the economy sharia as a new pillar of national economic strength which will also in the long term encourage Indonesia to become one of the economic and financial centers sharia in this world.

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You will also be able to connect to Swedbank Internet Banking with a fingerprint or face image – Banking News – Financenet

Representatives of Swedbank informed that from Wednesday the bank will gradually start introducing biometrics as an option for connecting to the Internet bank, ie customers will be able to use fingerprint or face recognition to connect to the Internet bank. Until now, such technology was available to customers in the Swedbank app to connect to the mobile app and make a single payment of up to 100 euros.

It is expected that soon Swedbank customers will also be able to confirm payments up to 100 euros in the Internet bank, using biometric data sign-in.

Vadim Frolov, Head of Customer Service at Swedbank, noted that the new option will provide an alternative way of connecting users of smart devices, helping to access their funds in cases where, for example, other alternatives are not available for some reason.

The biometrics menu in the Internet bank will be introduced gradually during this day and will be available to all customers.

To use this new feature, the customer must open the “Swedbank” mobile app on the phone and activate the option to sign in using biometric data stored on the smart device in the settings.

In terms of assets, Swedbank is the largest bank in Latvia.

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IFC Announces $ 40 Million Facility for Union Bank

(Agence Ecofin) – Union Bank of Nigeria has joined IFC’s global trade finance program and has thereby benefited from a $ 40 million facility. The amount will allow the bank to improve access to finance for commercial enterprises.

Union Bank of Nigeria will benefit from a $ 40 million facility to be allocated by the International Finance Corporation (IFC).

This facility follows the Bank’s accession to the IFC’s Global Trade Finance Program. The banking establishment headed by Emeka Emuwa will therefore be eligible for the guarantee mechanism of the program which will allow it to protect itself against the risk of non-payment on commercial transactions.

Union Bank therefore plans to increase lending to local business enterprises. Listed on the Nigerian Stock Exchange, the Bank will also have the opportunity to establish partnerships with international banks that are members of the program.

These partnerships could lead to loan agreements for Nigerian companies. Union Bank of Nigeria will also be able to establish bank connections with new financial institutions.

Commenting on this operation, Emeka Emuwa indicated that this facility will expand the Bank’s financing offers for commercial enterprises.

“Even in these special times, we remain focused on contributing to economic growth by developing tailor-made solutions that help our clients exploit the many opportunities that still exist in the Nigerian market.”, did he declare. Fifteen years after its inception, the IFC’s Global Trade Finance Program has supported many financial institutions on the continent.

Apart from Union Bank in Nigeria, Merchant Bank has also joined this program.

Chamberline MOKO

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Merger with Interim Bank, BCA Syariah will be stock split

ILLUSTRATION. Bank BCA Syariah will split the stock value aka stock split with a ratio of 1: 1,000

Reporter: Fencing Septiadi | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. PT Bank BCA Syariah will hold a stock split stock split with a ratio of 1: 1,000 for the purpose of merging with PT Bank Interim Indonesia, previously known as PT Bank Rabobank International Indonesia.

“BCA Syariah as the merged bank will conduct a stock split in which 1 share will be split into 1,000, so that the original share nominal value of Rp. 1,000,000 per share will become Rp. 1,000 per share,” wrote the company in the prospectus of its merger plan.

Before stock split, BCA Syariah will also hold an EGMS to ask for blessings, including requesting approval for the merger. As for the reasons stock split conducted to convert Interim Bank shares into BCA Syariah shares.

In the prospectus, it is explained that the results of the fair market value of Interim Bank as of July 31, 2020 with 3,719,070 shares amounted to IDR 321.98 billion or equivalent to IDR 84,156.52 per share. The fair market value of BCA Syariah as of July 31, 2020 was IDR 2.413 trillion or equivalent to IDR 1,208,977.61 per share.

Also Read: Legitimate, BCA has finally completed the acquisition of Bank Interim Indonesia

With these calculations, all 3,719,070 shares of Interim Bank will be converted into 258,883,207 shares of Bank BCA Syariah, or 1 share of Interim Bank is equivalent to 0.07 shares of BCA Syariah. The conversion represents 11.48% stake in BCA Syariah.

“The converted shares will be distributed to BCA amounting to 258,883,137 shares, and 70 shares to BCA Finance,” continued BCA Syariah.

Just so you know, at the end of last September, PT Bank Central Asia Tbk (BBCA) officially acquired Interim Bank. BCA is noted to have narrowed 99.999973% of Bank Interim’s shares, while 0.000027% sida is owned by PT BCA Finance. Meanwhile, the total acquisition value of Bank Interim is IDR 643.65 billion.

Also Read: Rabobank changes its name, what impact will it have on the planned merger with BCA Syariah?

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Disbursement of Bank Credit Crushed, a Recession Phenomenon in RI?

Jakarta, CNBC Indonesia – Bank Indonesia (BI) sees that the Covid-19 pandemic has a profound impact on the Indonesian economy. one of which is the very slow realization of bank credit.

BI noted, credit growth in August 2020 was very low at 1.04% compared to the same period the previous year. In fact, Third Party Funds (DPK) show the opposite direction, namely growing up to 11.64%.

“The credit side is still running slowly, even in August, 1.04% and this question is a factor of banking supply or demand from the business world?” He said at the Commission XI Meeting Room, Monday (28/9/2020)

According to him, if demand for credit is still weak in terms of interest rates, it can be ascertained that the liquidity easing and various macro prudential and microprudential policy relaxation undertaken by BI to reduce the risk premium are still not being implemented by banks.

With this condition, it is only natural that the demand for credit cannot grow and come from the public.

“So the demand for credit has not yet appeared on the ceiling provided by the banking nor has it all been reported,” he said.

However, he hopes that the liquidity easing policy implemented by BI and close coordination with the OJK and the government can revive the economy, especially the demand for credit from the public.

“In the future, with the improvement of the fiscal stimulus ecosystem, monetary and credit restructuring and accommodative policies, it is hoped that credit growth will improve,” he explained.

[Gambas:Video CNBC]

(dru)


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What will happen to the pesos and the rush for the dollar? the report that points to fiscal red

About this year they indicated that “the pandemic disrupted the economic policy objectives” that had planned “to control liquidity” and therefore “the demand for foreign currency, calming exchange and inflationary tensions.” The result: the fiscal deficit soared, as a result of the collapse of income due to the collapse of activity and the expansion of spending to mitigate the damages of the pandemic / quarantine.

Ecolatina remarks that “BCRA assistance to the Treasury reached record levels”, which can be accounted for at 1.6 trillion pesos which represents 6.3% of GDP. The consulting firm also remarks that there was “a strong sterilization via LELIQs and passes”, which imply 0.9 trillion less pesos destined for this area and a reduction of 3.4% in GDP. However, the monetary base would close the year close to 10% of GDP, in line with the 2012-2015 highs.

“In this context of strong aversion to saving in pesos, its excess supply shifted to the parallel dollar first, increasing devaluation expectations and accelerating pressures on the official dollar later” they conclude.

Ecolatina also analyzes that the debt restructuring sought to “calm tensions”, but the result was not as expected: “Although the agreement with private creditors did indeed bring relief at the medium-term macroeconomic level, it did not manage to appease the dollar appetite” .

The consulting firm highlights the continuous loss of Reserves, since the net ones drilled the u $ s7,500 million and the liquid ones are close to u $ s1,000 million, which derived according to the report, in which the Central Bank decided to strengthen the stocks, “further complicating the normal operation of the activity.”

“Going forward, it makes sense to ask what will happen to the fiscal red and what will be its source of financing: between both variables, they will determine what will happen to the pesos and, consequently, what level the exchange rate pressures will reach” they argue.

Regarding the 2021 Budget, the report warns that it is observed that the Ministry of Economy forecasts a primary deficit of 4.5% of GDP for next year, in an economy that would recover part of the lost ground with 5.5% growth projected and a slowdown in the inflation which would go from 32% this year to 29% in 2021.

Ecolatina analyzed that the budget is “important in terms of activity, too ambitious in terms of inflation” but that to “determine the assistance of the monetary authority to the National Treasury, it is necessary to work with different assumptions of rollover of the services of the debt (principal and interest) of the public sector “.

The consulting firm maintains that “thanks to the successful restructuring of sovereign hard currency bonds, maturities with private companies are practically nil next year” and that if the repayment of the IMF and Paris Club loan were to be extended, “there would be no net disbursements with international financial organizations.” This implies that “a refinancing of total services in foreign currency would be achieved, so that the assistance of the Central Bank to the Treasury in foreign currency would not be necessary.”

Regarding public debt services in pesos, Ecolatina developed three scenarios: “The first is conservative, since it assumes that in 2021 a rollover of only 100% (similar to this year, affected by the antecedent of the April reprofiling). The second assumes a 110% refinancing and the third, 120%. The intermediate scenario seems the most likely, but the extremes cannot be ruled out. “

In the event that the scenario of a rollover of 120% of debt services in pesos in 2021, the Treasury’s net placements would reach about 1.4% of GDP (508,000 million pesos, according to Ecolatina estimates), this would subtract the assistance of the Central Bank, since that it would be necessary to cover a fiscal gap (primary deficit minus net loans) of 3% of GDP. “In this case, the BCRA would have to turn to the Treasury next year (via temporary advances and profits) almost 1,080,000 million pesos, which represents around 40% of the monetary base that we estimate for the end of 2020” they analyze .

In this regard, in the Ecolatina report they project what would happen: “If we assume that in an electoral year the Central Bank does not” want “the monetary base to rise more than inflation, it would have –Other things being equal– to sterilize via LELIQs and pses “only” ARS 210,000 million (almost 20% of the assistance), leaving the stock of sterilization instruments at stable levels (below 10% of GDP) “.

The consultant also analyzed what would happen if the rollover out of 110% of the Treasury services in pesos: “Net placements would reach 254,000 million pesos (0.7% of GDP), so the BCRA would have to turn next year ARS 1,333,000 million (3.8 % of GDP) to the Treasury, equivalent to 45% of the monetary base at the end of 2020 “.

In this regard, they argue that “if the Central Bank does not allow the monetary base to go beyond inflation, it should sterilize about 460,000 million pesos, that is, 1.2% of GDP or 35% of assistance.” In response, the stock LELIQs and repo transactions would exceed 10% of GDP, practically doubling at the end of 2019 (5.5%). “In this framework, although this stock of sterilization instruments would reach the peak of 2018, the level of tension would be significantly lower: unlike the LEBACs, the LELIQs are in the hands of commercial banks that have almost no alternatives other than to stay in these letters “they analyze.

Finally, Ecolatina, projected what would happen if she only managed to do rollover of services in pesos that mature (100%): “As there are no net loans (pessimistic assumption, but not impossible), the Central Bank would have to cover the entire primary deficit (almost 1,600,000 million pesos, 4.5% of the GDP). Without an active sterilization policy, this would mean a 53% expansion of the monetary base in 2021 “.

If the premise that the monetary authority does not allow the monetary base to exceed inflation, it would have –Other things being equal– to sterilize about 460,000 million pesos (1.9% of GDP or 45% of assistance). “In response, the stock of LELIQs and passes would exceed 11% of GDP, a level that a priori it seems unstable “analyzes Ecolatina.

Finally, they conclude: “It is important to highlight that if inflation ends up being higher in 2021 than budgeted, the less will be the sterilization effort of the BCRA necessary for the monetary base to grow in line with the rise in prices, since the higher will be the collection of inflation tax ”.

The consultant allows us to think of three different inflation hypotheses: “30%, aligned with the 2021 budget; 40% aligned with our inflation prospects for next year; and 50%, a little above the price increase projected by the REM by 2021 (47%). As can be seen in the table, the sterilization (measured as the stock of LELIQs and passes in relation to GDP) necessary for the monetary base to grow in line with the rise in prices, is less the higher be the projected inflation rate. “

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