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Indonesian stocks hit circuit breaker again as dollar nears Rp 16,000

first_imgIndonesian stocks hit yet another circuit breaker on Thursday morning, prompting the Indonesia Stock Exchange (IDX) to halt trading for 30 minutes for the fourth time in a week.The main gauge, the Jakarta Composite Index (JCI), nosedived 5.01 percent a mere 37 minutes after it opened at 9 a.m. in Jakarta to 4,113.65, a level unseen since August 2012.“Trading at the IDX officially halted at 9.37 a.m. and will reopen at 10.07 a.m.,” IDX trading director Laksono Widodo told the press on Thursday, adding that transactions before the market closed totaled Rp 1.22 trillion (US$75 million). Foreign investors dumped Rp 461 billion in stocks more than they bought on Thursday morning.Read also: Rupiah at weakest since 1998 crisis as foreign investors pull out amid virus fearsThe rupiah continued its deep depreciation and reached Rp 15,712 per US dollar, according to the Bank Indonesia Jakarta Interspot Dollar Rate (JISDOR). The last time it touched that level was in June 1998 when it reach reached Rp 16,650 after widespread rioting that led to the downfall of president Soeharto, who led Indonesia for 32 years.“Global investors are still panicking over the spread of the coronavirus and their main concerns is not the virus but its economic impacts, which are still difficult to predict at this time,” said Sucor Sekuritas client coverage head Jason Gozali on Thursday. During the 1998 and 2008 crises, he went on to say, the JCI plunged 50 percent from its recent peak within five to six months. But now, the index has plunged around 35 percent from its recent high in just two weeks.“The panic is shown in the corrections happening in all global capital markets, not just in Indonesia,” he added.Tokyo dropped 0.74 percent, Shanghai fell 1.73 percent, Hong Kong fell 3.74 percent and Singapore plunged almost 4 percent on Thursday morning.Indonesia had reported 227 confirmed COVID-19 cases with 19 dead as of Wednesday, one of the highest death tolls in Southeast Asia.The JCI has lost almost 35 percent of its value since the beginning of the year, slashing its market capitalization to Rp 4.78 quadrillion from more than Rp 7 quadrillion last year.Read also: Indonesia to reallocate $1.8b budget for health care, cash transfers: Sri MulyaniPrivately owned PT Bank Central Asia — traded under the ticker symbol BBCA — led Thursday morning’s decline, as its share prices plummeted 7 percent, hitting the lower limit of price decline set by the bourse last week. The continued decline in the past few weeks has also caused the company to lose almost 30 percent of its market value so far this year.Logistics firm PT Putra Rajawali Kencana (PURA) and food manufacturing giant PT Indofood Sukses Makmur (INDF) also hit the price drop limit, with their shares tumbling 7 percent during morning trading.“In addition to a slowdown in infections, economic growth and corporate financial reports for the first quarter will be the key, as they will help investors estimate the economic impacts of the coronavirus,” Jason said.“If the impacts are not as bad as projected, it will restore investors’ rationality.”Topics :last_img read more

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RGA to help operators with good practice guidelines

first_img Clive Hawkswood joins beBettor as non-executive director April 28, 2020 The Remote Gambling Association (RGA) has published a set of behavioural analytics, drawing on the first-hand experience of its members, with the intention of providing minimum standards for operators to follow.Encapsulating a number of areas, such as operator policies, markers of harm, customer interactions, recording and reporting, staff training and evaluation, the good practice guidelines also take into account the latest research.Clive Hawkswood, the RGA’s Chief Executive, said: “It is important to recognise that data and behavioural analytics are not a silver bullet that will solve all of the problems associated with minimising gambling-related harm online.  However, their effective use will increasingly prove vital when seeking to achieve that. “The use of data in this way is still in its early days and whatever the industry does now will undoubtedly improve with the benefit of additional research and shared learning.  In the meantime we have a collective responsibility to use what we do know, and can do, to the best effect.  “Although many operators already have systems that go far beyond what is described in these guidelines, we hope they will provide a cross-industry benchmark and a sound starting point.”  The RGA stresses the importance of online industry operators utilising the great amounts of data they collect and retain in the correct manner, such as combating crime and creating a safer gambling environment.In addition help is also provided when developing or purchasing systems, enabling them to recognise problematic online gambling behaviour, and to interact with those identified in order to address the behaviours that are of concern.In its guidelines, the trade association concludes: “Safeguarding customers and combating problem gambling present many challenges not just for the gambling industry but for all stakeholders. “They require a range of responses. For the online gambling industry in particular, because of the account-based nature of the gambling that takes place and the data that provides, the proportionate and effective use of behavioural analytics presents a major opportunity to improve the way the sector meets these challenges. “Much can and should be done already and the intention is that these guidelines will assist all operators to at least have structures and processes in place that begin to make it easier and better to identify and limit problematic gambling behaviour.” Share Related Articles StumbleUpon RAiG members back radical overhaul of UK gambling’s affiliate landscape June 30, 2020 Submit Share RAiG – Affiliate representation cannot be withdrawn from industry’s ‘collaborative approach’ April 2, 2020last_img read more

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New CEO Ashish Patel to guide next “growth phase” for SingleShot

first_img Delasport clients get access to Kiron’s BetMan RGS platform April 27, 2020 StumbleUpon Former Merrill Lynch Director Ashish Patel has joined SingleShot Entertainment (SSE) – the Nevada-registered entertainment content firm which counts former snooker world champion Neil Robertson amongst its board of directors, as the company’s new CEO.The appointment marks the start of an exciting period for SSE, as it prepares to roll out UpNdown Virtual Golf next month through a partnership with virtual games provider Kiron Interactive.Patel has extensive experience in corporate finance and spent a number of years working with companies on their growth trajectory. He started his career in Merrill Lynch’s investment banking group in 1995 in Los Angeles, while his final role before leaving the industry was Head of Financial Institutions Group for Merrill Lynch Australia.During his time at Merrill Lynch, Patel was in charge of structuring and organising transactions for companies in the billions of dollars across industries, sectors and the various capital markets.Meanwhile, Australian Lawyer Troy Houghton is another new addition to SSE, joining the board members alongside Robertson and Moshe Adir, the founder of Vegas Kings and golfweather.com.Commenting on the changes, SSE Vice Chairman Shawn Budd said: “The sports betting industry is going mainstream, and it takes quality people to help guide us through our next growth phase. Our former CEO Vinnie Calabrese, will now take up the role as COO. Vinnie did a wonderful job as CEO and we would not be in the position we are in today without all his efforts.“These are very exciting times at SSE, we have our first product – UpNdown Virtual Golf – being released the first week of December, while our Cue Sports offering, Neil Robertson 7BallRun, will be released early in 2019. UpNdown Virtual Golf has been created by Virtual game leader Kiron Interactive and will be available on their BetMan platform.At the recent Global Gaming Expo in Las Vegas, SSE’s Golf offering – UpNdown Live, (due for release late in 2019) was recognised as one of the American Gaming Associations 10 most innovative products.Budd added: “UpNdown Live will allow bettors to wager on every shot in a professional Golf Tournament, giving sportsbooks the ability to offer their clients thousands of markets on each event in real time. It will be a game changer in the Live in Play sports betting space.” Sportradar supports snooker’s Championship League with data deal June 2, 2020 Submit Related Articles Share Digitain enhances virtuals offering with Kiron deal April 17, 2020 Sharelast_img read more

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New player joins lucrative Kenyan betting market

first_imgThe betting firm will have several user-friendly initiatives such as Betmaster news, a weekly newsletter that the firm will be making available every week both online and published inside one of the leading newspapers on Saturdays.The publication will offer advice, detailed analysis, statistics and betting tips on all major leagues that will allow Kenyans to make informed decisions when betting.Betmaster new markets director, Thanos Marinos noted that Africa has become a hub for a lot of foreign investments contributing favorably to economic development and Kenya is one of the 3 largest betting markets in Africa.“Our business will be guided by our ethos of innovativeness and responsible betting. Betmaster Kenya market is launching in tandem with Betmaster Mozambique so all of us, from the shareholders to the management and the customer service employees, are very excited and proud to see our brand positioned strongly in Africa,” Marinos said during the company’s launch.He also disclosed that the company will look to expand its wings to DRC and Uganda.The main drive for the company is to ensure that their clients get a safe and trusted environment where they can place their bets and win via their website betmaster.co.ke and sms-based betting options.0Shares0000(Visited 3 times, 1 visits today) 0Shares0000The company hinges on the campaign of responsible betting and offers a unique user friendly platform for passionate sport fans.NAIROBI, Kenya, Aug 16 – Russian company Betmaster is the latest entrant into the lucrative Kenyan market, launching in Nairobi as its first African home with plans of expanding to Mozambique, Nigeria, Tanzania and Ghana.The company hinges on the campaign of responsible betting and offers a unique user friendly platform for passionate sport fans.last_img read more

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