Indonesia injects $4.2b into sovereign wealth fund to get big tasks rolling The injection is part of the government’s plan to inject Rp seventy five trillion ($5.3 billion) into the sovereign wealth fund this 12 months to finance infrastructure, tourism and technology projects. The Papua New Guinea Tourism Promotion Authority formally launched the Enga Cultural Festival on Friday ninth August in Wabag, Enga Province. The festival, famend for celebrating the rich tradition of Enga Province, marked a big milestone this yr with its 30th Anniversary. Honourable Sir Peter Ipatas, Governor of Enga Province, expressed his gratitude for TPA’s continued help.
Minister Maru added, “While Indonesia has traditionally relied on imports of manufactured goods, advanced know-how, and technical abilities, it has efficiently transitioned from a major sector economy to one focused on secondary and tertiary industries. “Downstream processing has been extremely profitable in Indonesia, creating hundreds of jobs, transferring higher-value expertise, and introducing advanced technological processes. The nickel SEZ at Weda Bay alone created 80,000 direct jobs and 12,000 oblique jobs—more jobs than PNG’s whole mining and petroleum industries combined. In 2022, funding in downstream mining surged to almost US$9.2 billion, compared to US$4.1 billion in 2019,” Maru noted, emphasising the numerous position these investments have played in Indonesia’s mining industry. The Indonesian Government has recommended that PNG undertake an analogous strategy and implement a ban on raw materials exports.
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FCMB Bank Limited Launches Personal and Business Banking Proposition to Deepen InclusivenessFCMB Bank Limited, an independently included subsidiary of First City Monument… The House of Representatives yesterday waded into the continued controversy between the Nigeria Ports Authority … To drive the enforcement of the obligatory insurance of public buildings throughout the country, The National… After clashing with lawmakers last week over her workplace finances, Vice President Sara Duterte was a no-show at the House of…
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Richard Maru, has highlighted Papua New Guinea’s new focus on attracting Indonesian investments following current high-level engagements between the two nations. These embody State Visits by the Heads of both countries, a commerce and investment mission led by Deputy Prime Minister Hon. John Rosso, and the signing of a Joint Declaration establishing a high-level Dialogue and Cooperation Mechanism. Minister Maru remarked, “Indonesia’s economic Business News system has grown tenfold over the past 20 years, pushed partially by the government’s coverage of banning uncooked materials exports.
He told followers on X he had rejected a “pitiful” provide from the online game giant to make use of the group’s prime ten 1983 monitor Temptation in the upcoming GTA 6. Grand Theft Auto makers Rockstar have battled hackers, tabloids and even US politicians, however they gained’t have expected fightback from an 80s pop star. Fifth of commercial value creation in Germany beneath threat, BDI says Around 20 % of commercial worth creation in Germany is under threat, according to a research printed by the business affiliation BDI on Tuesday. China ‘dissatisfied’ with new Dutch export controls on ASML chipmaking tools China is “dissatisfied” with the Dutch government’s decision to increase export controls on ASML chipmaking equipment, the Chinese commerce ministry mentioned in an announcement on Sunday.
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And meaning the European Central Bank will probably reduce interest rates on Thursday. September 6, 2024 • There was both good news — and dangerous news — in the latest jobs report, offering an unclear picture because the Federal Reserve weighs how much to cut interest rates. September 6, 2024 • There is expected to be plenty of demand for manufacturing jobs in the coming decade, but lots of those positions shall be left unfilled.