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Omnibus Law On Job Creation
The Job Creation Act ( id, UU Cipta Kerja), officially Law Number 11/2020 on Job Creation (''Undang-Undang Nomor 11 Tahun 2020 Tentang Cipta Kerja'', or UU 11/2020), is a bill that was passed on 5 October 2020 by Indonesia's People's Representative Council (DPR), with the aim of creating jobs and raising foreign and domestic investment by reducing regulatory requirements for business permits and land acquisition processes. Due to its length of 1,035 pages and its coverage of many non-employment sectors, it is also referred to in Indonesia as an omnibus bill. The final draft was changed to 812 pages due to pagination being changed to legal format. After being passed into law, there were various substantial text alterations and deletions, as well as procedural issues, which made its legal status eligible for being formally annulled. The law has been criticized on the basis of concerns it will harm labour rights and indigenous land rights, and increase deforestation in Indonesia b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nasdem Party
The Nasdem Party ( id, Partai NasDem) is a political party in Indonesia. It is partly funded by media baron Surya Paloh who founded the similarly named organization, National Democrats ( id, Nasional Demokrat). Despite this, and logo similarity, Nasional Demokrat has insisted that it is not linked with the party. History The Party has its origins in a youth-focused NGO called Nasional Demokrat (National Democrats) founded by Surya Paloh, who owns the media conglomerate Media Group, and Hamengkubuwono X, the sultan of Yogyakarta in 2010. It received extensive coverage on media owned by Surya Paloh. In 2011, Hamengkubuwono left the organization, unhappy with its transformation into a political party. Less than a month later, Surya Paloh formed the Nasdem Party, and appointed former National Mandate Party (PAN) politician Patrice Rio Capella as its first chairman. The party was officially declared on 26 July 2011, although it had previously registered to the Ministry of Law and Hum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overtime
Overtime is the amount of time someone works beyond normal working hours. The term is also used for the pay received for this time. Normal hours may be determined in several ways: *by custom (what is considered healthy or reasonable by society), *by practices of a given trade or profession, *by legislation, *by agreement between employers and workers or their representatives. Most national countries have overtime labour laws designed to dissuade or prevent employers from forcing their employees to work excessively long hours (such as the situation in the textile mills in the 1920s). These laws may take into account other considerations than humanitarian concerns, such as preserving the health of workers so that they may continue to be productive, or increasing the overall level of employment in the economy. One common approach to regulating overtime is to require employers to pay workers at a higher hourly rate for overtime work. Companies may choose to pay workers higher overt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Severance Pay
Severance may refer to: Arts and entertainment * ''Severance'' (film), a 2006 British horror film * ''Severance'' (novel), a 2018 novel by Ling Ma *''Severance'', a 2006 short-story collection by Robert Olen Butler * ''Severance'' (TV series), a 2022 Apple TV+ sci-fi series * ''Severance'' (album), by Daysend, 2003 *''Severances'', a 1989 album by Masami Akita, recording as SCUM * "Severance", a 1988 song by Dead Can Dance from '' The Serpent's Egg'' *'' Severance: Blade of Darkness'', a 2001 fantasy action video game Finance and law *Severance (land), the division of land that does not require a plan of subdivision *Severance, the ending of a joint tenancy other than by death *Severance package, pay and benefits when an employee leaves a firm * Severance tax, a tax on non-renewable natural resources Structures * Severance Hall, a concert hall in Cleveland, Ohio, US * Severance Hospital, in Seoul, Korea Places in the United States *Severance, Colorado * Severance, Idaho, now ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States. Most economists agree that high levels of inflation as well as hyperinflation—which have severely disruptive effects on the real economy—are caused by persistent excessive growth in the money supply. Views on low to moderate rates of inflation are more varied. Low or moderate inflation may be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minimum Wage
A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. Because minimum wages increase the cost of labor, companies often try to avoid minimum wage laws by using gig workers, by moving labor to locations with lower or nonexistent minimum wages, or by automating job functions. The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshops, by employers who were thought to have unfair bargaining power over them. Over time, minimum wages came to be seen as a way to help lower-income families. Modern national laws enforcing compulsory union membership which prescribed minimum wages for their members were first passed in New Zealand in 1894. Although minimum wage laws are now in effect in many jurisdictions, differences of opinion exist about the be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indonesia Investment Authority
The Indonesia Investment Authority (INA) is the sovereign wealth fund of Indonesia. The INA was founded by the Indonesian Government in 2021 to strengthen the country's economy by diversifying into new asset classes. INA was launched in February, 2021, with a target of managing $24.5 billion of assets. Unlike sovereign wealth funds of other countries which manage excess oil revenues or foreign exchange reserves, the INA seeks foreign funds as co-investors to finance the country's economic development. INA had received commitments of up to $10 billion prior to its launch from global companies and agencies such as the U.S. International Development Finance Corporation and the Japan Bank for International Cooperation, as well as a few foreign pension funds. The Indonesian government will support the fund with $5 billion in cash and other assets. The United Arab Emirates has announced a plan to invest $10 billion in INA Governance INA reports directly to the President of Indonesia. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Wealth Fund
A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank. Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for the purposes of investment return, and that may not have a significant role in fiscal management. The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Indonesia)
The Ministry of Finance ( id, Kementerian Keuangan) is an Indonesian government ministry responsible for the nation's finance and state assets. The Finance Minister is responsible to the President. The ministry's motto is ''Nagara Dana Rakça'', which means "guardian of state finance". History Colonial Period The Dutch East India Company was given ' to print money during the rule of Governor General Jan Pieterszoon Coen. Since the 17th century, the Dutch East India Company increased state revenue. The company raised state revenue by an obligation to surrender agricultural products ('), restrictions on agricultural production (', which increased the price) and obligations to plant strategic agricultural products such as coffee ('). When the British took over Dutch East India as part of the War of the Sixth Coalition and assigned Stamford Raffles as Lieutenant-Governor, he instituted reformation through land tax ('), which changed the former Dutch system, to enable the public to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prosperous Justice Party
The Prosperous Justice Party ( id, Partai Keadilan Sejahtera, sometimes called the Justice and Prosperity Party), frequently abbreviated to PKS, is an IslamistAl-Hamdi, Ridho. (2017). ''Moving towards a Normalised Path: Political Islam in Contemporary Indonesia''. JURNAL STUDI PEMERINTAHAN (JOURNAL OF GOVERNMENT & POLITICS). Vol. 8 No. 1, February 2017. p.53, pp.56-57, p.62.Al-Hamdi, Ridho. (2013). ''Partai politik Islam: Teori dan praktik di Indonesia''. Yogyakarta: Graha Ilmu. political party in Indonesia. PKS is a metamorphosis from the Justice Party ( id, Partai Keadilan, PK) established in 1998. The party was originally influenced by the Muslim Brotherhood movement of Egypt, and considered an Islamist party for its calls for Islam to play a central role in public life, as well as providing political support to Indonesian Islamist movements such as the Islamic Defenders Front and 212 Movement. Today, it is considered a nationalist Islamist party that conforms with Pancasi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Party (Indonesia)
The Democratic Party ( id, Partai Demokrat) is a centre to centre-right political party in Indonesia. It was founded on 9 September 2001. Its ideology is based on the Indonesian concept of Pancasila, and identifies as centrist. Origins The 2001 Special Session of the People's Consultative Assembly which resulted in Megawati Sukarnoputri's election as President of Indonesia caused a vacancy in the position of vice-president. Susilo Bambang Yudhoyono was one candidate who competed for the vice-presidency, losing out to Hamzah Haz. Yudhoyono's supporters saw Yudhoyono's participation in the vice-presidential election as a sign of his popularity and recognized Yudhoyono's potential as a possible leader for Indonesia. One of these supporters, Vence Rumangkang approached Yudhoyono with the idea of forming a political party to help shore up support for the 2004 presidential elections. Yudhoyono approved of the idea and after going through the basic concepts left Rumangkang in charg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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