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BRI braces for further COVID-19 impacts on financial performance

first_img“The growth in loan disbursement in the first quarter was mainly driven by the micro and medium retail segments,” Sunarso said during the same event.Loan disbursement for the micro segment grew 12.72 percent yoy during the period, while loan disbursement to the retail and medium segment increased 12.25 percent yoy.Meanwhile, Sunarso also expected the loan restructuring program that allows debtors, especially micro, small and medium business players impacted by the pandemic, to defer principal and interest payments to banks, would further affect BRI’s performance this year.“The restructuring [program] will impact our business on two fronts, namely liquidity and revenue,” he said. “Delaying loan principal payments will impact liquidity while delaying interest will impact our revenue.”The bank has restructured loans of 1.4 million micro, small and medium enterprises (MSMEs) totaling Rp 101 trillion as of April, according to Sunarso.Given the situation, the bank expressed hope that the government’s plan to place funds in banks could help relieve its liquidity problems this year.The government recently issued Government Regulation (PP) No. 23/2020 on the national economic recovery program, stipulating that it will carry out efforts to support the recovery of the virus-battered economy. The measures include the placement of funds in certain domestic banks to provide more liquidity.According to Finance Ministry presentation material obtained by The Jakarta Post, the government might allocate Rp 35 trillion for this purpose.For the time being, Sunarso said the bank still had ample liquidity despite the turbulent economic conditions.BRI’s capital adequacy ratio currently clocked in at 18.56 percent as of March, while its loan-to-deposit ratio stood at 90.45 percent, below the minimum requirement of 92 percent.Mirae Asset Sekuritas analyst Lee Young Jun also expects the restructuring efforts to affect the bank’s net interest margin (NIM).“We believe that additional restructured loans will likely drag NIM down going forward,” he said in a research note on Friday, adding that it expected BRI’s NIM to decline by 78 basis points this year from 2019’s 6.98 percent.BRI’s NIM stood at 6.66 percent in the first quarter of this year, slightly lower than 6.89 percent figure recorded in the same period last year.Topics : State-owned lender Bank Rakyat Indonesia (BRI) has lowered its expectations for its financial performance this year amid the unfavorable market conditions due to the COVID-19 pandemic and the government’s loan-restructuring program.The pandemic has impacted the bank’s quarterly figures, as its profit dropped slightly to Rp 8.17 trillion (US$550 million) in the first three months of this year, from Rp 8.2 trillion in the same period last year.BRI finance director Haru Koesmahargyo attributed the decline to unfavorable market conditions that had affected the performance of its subsidiaries, such as insurance firm BRI Life and agriculture-focused lender BRI Agro. “We are definitely revising our bank business plan this year [given the situation],” Haru said during a virtual press conference on Thursday.For example, the bank expects to slash its loan growth target to 5 percent this year from its  initial target of 11 percent, according to presentation material obtained by The Jakarta Post. The figure is far lower than last year’s loan growth of 8.4 percent.Despite the slight drop in profit, the bank still recorded 9.4 percent year-on-year (yoy) growth in loan disbursement during the first quarter to Rp 882.25 trillion.The figure is higher than the average industry growth of 7.95 percent during the same period, according to BRI president director Sunarso.last_img read more

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Governor Wolf Officially Opens 100th Pennsylvania Farm Show; Celebrates Strength, Diversity and Potential of PA Agriculture

first_img January 09, 2016 SHARE Email Facebook Twitter Governor Wolf Officially Opens 100th Pennsylvania Farm Show; Celebrates Strength, Diversity and Potential of PA Agriculturecenter_img 100th Farm Show Harrisburg, PA – Governor Tom Wolf, presiding over a cavalcade of bands, livestock, farm equipment, agriculture royalty, and volunteers at the opening ceremony of Pennsylvania’s 100th Farm Show today touted the state agriculture industry’s ability to meet food demands and to strengthen Pennsylvania’s economy.“Agriculture is a tremendous resource that fuels our economy,” said Governor Wolf. “Pennsylvania is already a national leader in commodities like milk and mushrooms, apples, eggs and hardwoods. These goods generate billions of dollars for our economy and employ tens of thousands of people.“I envision a Pennsylvania agriculture industry that builds on our existing strengths and expands to meet growing demands for food year round. But to do that requires new investments in technology, in market development, in education and workforce development, and in improving access to food. It requires us to be vigilant on matters of food and animal safety, as well as plant health, and controlling against invasive threats. These are priorities for my administration, and we’re making great progress, which people can see firsthand here at the 100th Farm Show.”Since taking office, the Wolf administration has taken steps to launch new agricultural operations and expand existing businesses; open new markets; safeguard Pennsylvania’s food supply; protect against emerging invasive species; and develop a workforce capable of filling tens of thousands of job vacancies in the agriculture and food industries over the next 10 years. Among other things, the state Department of Agriculture under Governor Wolf has:Prepared Pennsylvania to protect against the threat of Highly Pathogenic Avian Influenza by developing an emergency response plan, encouraging greater biosecurity, and securing $3.5 million in dedicated funding for planning and response;Worked with the U. S. Department of Agriculture to secure nearly $3 million in funding to combat the Spotted Lanternfly, an invasive insect found for the first time in the country in Berks County;Helped farmers with transition planning and  assistance, whether from generation-to–generation or from conventional practices to organic crop production;Invested in young beginning farmers through the Next Generation Farmer Loan Program, as well as Pennsylvania Industrial Development Authority loans;Begun to tackle the problem of Pennsylvanians being at risk for hunger by signing an executive order to coordinate Pennsylvania’s food and nutrition programs and securing additional funding for the first time to implement the Pennsylvania Agricultural Surplus System, which would provide Pennsylvania-sourced commodities to the charitable food system;Placed a renewed focus on meeting Pennsylvania’s obligations to help clean up the Chesapeake Bay, while taking steps to ensure farmers receive full credit for the conservation measures they already have in place; andInitiated the development of a 10-year strategic plan for the state’s agriculture industry, in conjunction with agricultural stakeholders, to discern challenges and opportunities for the industry and position it for continued success.“It is an exciting time to be in agriculture,” said Agriculture Secretary Russell Redding. “People are increasingly interested in knowing where their food comes from. We’ve tried to illustrate the connection between the work of producers on the farm and the food we enjoy three times a day at the dinner table. That is a major theme of this year’s Farm Show. And we’re showcasing how the state is making considerable progress in meeting Governor Wolf’s charge to capitalize on the tremendous resource that is Pennsylvania agriculture.”Following a tour of the Farm Show, which included stops at the show’s new Farm-To-Shelf display, meetings with leading farm organizations, and a stop at the food court, Governor Wolf and Secretary Redding participated in the official opening ceremony. The ceremony included performances by the Pennsylvania State Police Mounted Drill Team and the Harrisburg High School Marching Band. It also featured the Journey of Agriculture parade, which chronicled the progress made in agriculture since the first Pennsylvania Farm Show in 1917.The 100th Pennsylvania Farm Show, themed “Our Commonwealth’s Blue Ribbon Experience,” runs today through Saturday, January 16, and features special exhibits that chronicle the evolution of the show and the development of Pennsylvania’s agriculture industry, as well as the traditional competition, exhibition and food found at the annual state agricultural showcase.The Pennsylvania Farm Show is the nation’s largest indoor agricultural event, featuring 6,000 animals, 10,000 competitive exhibits, and 300 commercial exhibitors. According to a report issued by the Hershey Harrisburg Regional Visitors Bureau, the 2015 show had an estimated economic impact of $95 million to the south-central Pennsylvania region, supporting more than 18,000 jobs over the course of the week-long event.The show runs January 9-15 from 8 a.m. to 9 p.m. and January 16 from 8 a.m. to 5 p.m. Admission is free and parking is $15 in Farm Show lots. The Pennsylvania Farm Show Complex and Expo Center is easily accessible from nearby Interstate 81.For more information or a complete schedule, visit www.farmshow.state.pa.us.View photos from the 2016 Pennsylvania Farm Show here.Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolflast_img read more

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Governor Wolf Joins Bipartisan Governors’ Partnership to Expand Computer Science in Schools

first_img SHARE Email Facebook Twitter December 04, 2017 Education,  Innovation,  Press Release,  Schools That Teach Harrisburg, PA – Building on his support of making computer science education available for all students, Governor Tom Wolf is today joined the bipartisan Governors’ Partnership for K-12 Computer Science, a multi-state initiative organized by Code.org. The national coalition is committed to increasing access and funding for computer science education in K-12 schools.“Over the next decade, seven in ten jobs in Pennsylvania will require workers to use computers and technology,” said Governor Wolf. “We must do more to make computer science education available in our schools and prepare our children for these highest-paying, fastest-growing jobs in the country and bring new opportunities to the commonwealth.”Through the partnership, which includes 13 states, Governor Wolf is supporting policies that enable all high schools to offer at least one rigorous computer science course, fund professional learning opportunities so teachers can teach the courses, and establish standards to ensure quality and equity.All students should have the opportunity to study computer science, regardless of their race, gender or socioeconomic background, however opportunity gaps remain. In 2015, only one in 10 Pennsylvania students in grades 7 through 12 were enrolled in a computer science course, with significant gaps for girls, students of color and low-income students.“There is no greater action we can take to dramatically improve the competitiveness of our state and our country than to prepare our kids for jobs in the digital economy,” said Bob Moul, tech entrepreneur and organizer of CS4Philly. “In the next decade more than 70 percent of all jobs will require technical competency – computer science has become as fundamental to our students as reading, writing, and arithmetic.”The Governors’ Partnership for K-12 Computer Science Education is a multi-state initiative organized by Code.org.  The national nonprofit launched in 2013 is dedicated to expanding access to computer science for all students.“Equitable access to high-quality computer science education is an economic development imperative,” said Sunanna Chand, Director of Remake Learning. “The Pittsburgh region has more computer science job openings than we can fill, and diversity is a challenge, with African Americans comprising only 1 percent of the IT workforce. With leadership from Governor Wolf and Code.org, as well as local partners like Carnegie Mellon University and Google Pittsburgh, among many others, we can close the opportunity gap.”As part of Pennsylvania’s ongoing efforts, the Wolf Administration will work with national, regional, and state partners to promote promising practices for ensuring that students have access a rigorous, well-rounded education, including computer science, regardless of their race, gender, socioeconomic status, or zip code.“Computer science is important to the future of all students, not just those interested in tech careers,” said Leann Tepsich-Cox, Coordinator of Grants and STEM Education at Steelton-Highspire School District. “Learning computer science provides students with critical problem solving skills that will help them succeed in their career and in the community. At Steel-High we are driving toward using innovative Ag Tech as a conduit for STEM learning and computer science is integral to this learning. Steel-High is a district on the rise and computer science is a great way to entice and engage all of our learners.”This partnership builds the commonwealth’s strong commitment to STEM education, where Pennsylvania has been recognized as a national leader. Pennsylvania needs to have a STEM-ready workforce to fill approximately 300,000 jobs requiring STEM skills by 2018.Governor Wolf has taken action to increase access to computer science in schools. Last year, he signed a bill into law that allows computer science courses to count toward high school graduation, making it one of 24 states with the policy. Last month, he urged the State Board of Education to endorse rigorous K-12 computer science education standards that would ensure that each student in Pennsylvania has access to computer science courses in their school.Over the past 19 months the Pennsylvania Department of Education has been convening a cross-sector group of leaders from early childhood through postsecondary education, business and industry, workforce and community development, and other partners to establish the PA STEM coalition, which has worked to develop recommendations for expanding STEM and computer science learning opportunities across the commonwealth. In Pennsylvania, over 1,200 educators are trained in Code.org K-12 resources (DCIU and AIU3 partnership) and 18,332 students took a Computer Science class in high school last year.center_img Governor Wolf Joins Bipartisan Governors’ Partnership to Expand Computer Science in Schoolslast_img read more

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Winter’s end bring out buyers in the north

first_imgFalling available land stock bodes well for property owners hoping to see their property values increase.BUYERS have woken from hibernation and are heading to North Lakes, said Bridgebury Real Estate principal, Anthony Obee.“The market has been incredibly strong since we’ve come out the winter,” Mr Obee said.Mr Obee said the sale of 14 Belair Street for $525,000 on November 3 showed owner occupiers were on the hunt for good quality property.More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019“It was a very high end finished home, so an owner occupier saw a lot more value in that property than an investor would,” he said“Most potential purchasers were young families — mostly second time buyers,” he said.The four-bedroom, two-bathroom home on a 488sq m block was going to be its vendor’s ‘dream home’, however a chance to relocate for work meant the time to sell came slightly sooner than they’d expected.Mr Obee said the buyers were a couple relocating from north Queensland who’d chosen North Lakes for their first purchase because of the extensive infrastructure and services available in the suburb.Mr Obee said he believes the market will remain strong through to the end of 2017, and a dwindling land supply should shore up values beyond 2018 as well.Follow Kieran Clair on Twitter at @kieranclairlast_img read more

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Number of cross-border IORPs increases for first time since 2011

first_imgThe market for cross-border Institutions for Occupational Retirement Provision (IORPs) has returned to expansion over the last 12 months, after two years of contraction or stagnation, according to official figures.The number of IORPs rose to 86 by 1 June this year, a report on cross-border IORP activity by the European Insurance and Occupational Pension Authority (EIOPA) showed.This compares with 82 IORPs reported to be authorised in last year’s report.The 2013 report showed cross-border IORP numbers had fallen to 82 from 84, with that decline coming on the back of the 2012 figures, where the quantity of workplace schemes remained unchanged from the year previous. In the 12 months to the beginning of June, there were eight new cross-border IORP authorisations and four withdrawals.However, EIOPA said two of the stated withdrawals were simply the result of an error in reporting the previous year, which suggested the growth in overall cross-border IORPs this year was even stronger, with a net increase of six IORPs.The latest report includes new data for the first time, which EIOPA says should give a more comprehensive and detailed overview of the European occupational pensions landscape as a whole.New information includes the total number of IORPs and related insurers in the EEA, an estimate of the assets they hold and data on the number of active cross-border IORPs as opposed to those simply registered as such.For the first time, the survey also gives an overview of the host countries to the active cross-border IORPs as well as an overview of which countries act as home and host countries.Most of the 86 authorised IORPs were from the UK, Ireland or Belgium, with these countries home to 29, 33 and 12 schemes, respectively.Of the 86 cross-border IORPs in the EEA, 75 were actively operating.All of the UK’s 29 authorised IORPs were active, compared with 25 of Ireland’s 33 IORPs and 11 of Belgium’s 12.last_img read more

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Four levels of luxury living at inner-city abode

first_imgThe four-level house at 29 Upper Cairns Tce, Paddington, is for sale.IT IS difficult to believe this Paddington house once had purple walls and maroon carpet.But this was the reality of the 29 Upper Cairns Tce home when it was bought by Richard and Josie Harrison five years ago. Dark floorboards give a dramatic vibe when contrasted with crisp cupboards and walls.“It took us pretty much two years on and off … because we had to change all of the plumbing and electrical,” Mrs Harrison said.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours ago“I wanted to embellish the bones of the property and create a really functional flow.”Embellish she did, with the house now a mixture of French provincial and hamptons styles. The kitchen is hamptons style, with a touch of French provincial influences.“It was purple and maroon carpet, and it had staircases running everywhere,” Mrs Harrison said.It was Mrs Harrison’s vision to create a space that was functional on each of its four levels, and pay homage to its Queensland history while adding some creative flair. There is a balcony off the bedroom.Dark timber floorboards flow through the home, juxtaposed with neutral coloured VJ walls.With this renovation being the “sixth or seventh” on the couple’s resume, Mrs Harrison said her past experiences had allowed her to create the beautiful property.“With every project there are always things you might change or learn,” she said.“For example, texture is something people forget, and texture is just as important as colour.” The bathrooms are glamorous.A fine example of this is the herringbone tiled splashback in the kitchen, which begs for a hand to run over its surface.On the home’s lowest level is a double lockup garage, a bedroom, kitchenette and toilet. Living, dining and kitchen spaces occupy ground level.The master bedroom, which has an ensuite, and another bedroom are on level two. The loft also has a bedroom and ensuite. Three of the four levels also have washing machines.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenStarting your hunt for a dream home00:51last_img read more

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QED Naval Boosts Management

first_imgQED Naval has appointed Keith Murray as chief commercial officer. Murray joins at a particularly exciting time as QED invests further in specifically delivering its EMEA project pipeline, and developing its industry leading, tidal ventures.Murray brings over 25 years of professional experience in the fields of operations, construction and project management, having developed major UK construction and renewable energy projects. He has managed large facilities and businesses taking them from start-up, through turnaround and transformation, to sale, managing sizable operations and change projects, and developing strategies around supply chain and asset management.As a degree qualified, chartered, surveyor with a post graduate masters degree in project management, he has worked for blue chip organisations and led and large projects such as M&S as well as The National Australia Banking Group’s estates and FM strategies, and leading both FirstPort and Reliance Group’s operations in Scotland, where he introduced significant transformation and growth.“We are very confident that, with Keith’s leadership in partnership with Jeremy Smith, the QED team will deliver great value, support and innovation to its customers, and continue to make great strides in developing the tidal industry along with its strategic partners,” the company said.last_img read more

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France makes paying for sex illegal

first_imgMailOnline 3 June 2015A tough new law that will see men jailed for paying for sex is set to come into force in France.The controversial anti-vice bill proposes fines of up to £1,200 – and ultimately a six-month prison sentence – for the clients of prostitutes.The government says the law is aimed at preventing violence against women, with the final goal of seeing prostitution disappear entirely.A draft version of the law was voted through by the Socialist-led parliament today, and its final version will be voted on again on June 12.But the bill has provoked widespread opposition from sex workers, who said numerous ‘hypocritical MPs’ were their main clients.http://www.dailymail.co.uk/news/article-3109799/Men-pay-sex-fined-1-200-new-rules-brought-France.htmllast_img read more

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Season start great for Van Gaal

first_img On the day the fixtures for the 2014/15 season were announced, United were handed an opening visit by Swansea, before travelling to Sunderland. Newly-promoted trio, Burnley, QPR, Leicester are next up, before a home match against West Ham on September 27. Yorke said: “He’s managed to get a home game first and I’m sure he’ll be delighted with their first three. On paper they look relatively easy for him.” Reed said: “I think they’ll give him a fantastic reception – he’s done some fantastic things for this club. “They were disappointed to see him go but they realise the special nature of that transfer and won’t forget what he’s done here. The move’s gone smoothly and he’s been respectful.” Chelsea, who finished third in 2013-14, head north for an opening day match against Burnley. The Clarets, who secured promotion back to the top flight under Sean Dyche, then travel to Swansea before facing United at Turf Moor. Championship-winning Leicester face a challenging start, with a home match against Everton followed by games against Chelsea and Arsenal. The Gunners start at home to Crystal Palace, while north London rivals Tottenham – now managed by Mauricio Pochettino – are at West Ham. The third match in London on the opening weekend of the season sees QPR, promoted courtesy of a Wembley play-off final win over Derby, take on beaten FA Cup finalists Hull. Rangers chief executive Philip Beard added on Sky Sports News: “We’re delighted to be there. We know we need to strengthen a bit and will work hard over the next few weeks. “We don’t need wholesale changes, just to add some quality to what is already a very good squad,” added Beard – who revealed there had been “no discussions at all” on reported transfer target Tom Ince. Alan Irvine’s first Premier League match as West Brom manager is at home to Sunderland, who survived thanks to a stirring revival under the leadership of Gus Poyet, while the other opening day match pairs Stoke and Aston Villa at the Britannia Stadium. There are some appealing Boxing Day fixtures, including two London derbies, with Arsenal at home to QPR and Chelsea facing West Ham. Burnley also tackle Liverpool at Turf Moor. Stoke is Liverpool’s destination on the final week of the season, when City are at home to Southampton and United travel to Hull. Sunday, May 24 also sees Everton take on Tottenham, while Leicester and QPR are set to meet in a game which could be significant at the bottom end of the table. Arsenal finish against West Brom, Burnley go to Villa, Chelsea meet Sunderland, Palace face Swansea and Newcastle take on West Ham. The 42-year-old, who played for the club from 1998 until 2002, believes United can also take advantage of Van Gaal’s positive relationship with striker Robin van Persie. Yorke continued on Sky Sports News: “It’s no secret that they have an outstanding relationship, we’ve seen it at the World Cup (with Holland). He seems to be playing with a great deal of confidence – and every top player wants that understanding with a manager. “That could be crucial for United when they come back to the club. It’s going to be exciting to see who he brings in. “Central defence is an area which needs strengthening, central midfield needs to be looked at – and maybe he can look at the wide areas too and freshen things up.” Elsewhere, champions Manchester City will begin the defence of their title at Newcastle, before Liverpool – the team they pipped to the trophy – visit the Etihad Stadium the following week. The first Manchester derby of the season is scheduled for November 1 at the Etihad Stadium, with the reverse slated for April 11. Liverpool are due to start on August 16 with a home game against Southampton – Ronald Koeman’s first game in charge. Saints executive director Les Reed believes Merseyside-born Rickie Lambert, who moved to Anfield from the south-coast club recently, will get a good reception from the travelling fans. Former Manchester United striker Dwight Yorke believes Louis van Gaal can benefit from the club’s early Barclays Premier League matches. Press Associationlast_img read more

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Mathieu Debuchy looking to leave Arsenal

first_img Asked about the interest from Remi Garde’s side, the France right-back told L’Equipe: “It’s true, they are among the teams interested in me. “I am currently studying everything but it’s not a possibility I have excluded. “Whatever happens, even if it is to return this summer and then start again, I have to go this winter. I cannot stay at Arsenal.” Asked if he regrets not leaving the Emirates in the summer, he replied: “Yes, I clearly lost six months. “I would have preferred to leave last summer but the coach told me I would have my chance – it was not the case. “I do not know who is responsible. Last year I got injured and I’ve been away a long time and Bellerin played some good matches. “This summer, I had a good preparation and I was able to resume the season – but the coach decided otherwise. “It is very hard, I went through difficult times. This is the first time I find myself in this situation. Playing a match every two months, that’s not possible.” The 30-year-old swapped Newcastle for the Emirates Stadium 18 months ago in a reported £12million deal, but has fallen down the pecking order following Hector Bellerin’s emergence. Debuchy has made just seven appearances for the Gunners this season and wants to leave in January, with struggling Aston Villa and Bayer Leverkusen amongst the interested parties. Press Associationcenter_img Out-of-favour Mathieu Debuchy says he “cannot stay at Arsenal” and needs to leave this month, even if it is on loan.last_img read more

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