Monday, October 7, 2024
25 C
Brunei Town

Firefighters in Greece discover another body, bringing week’s wildfire death toll to 21

Flames burn a forest during wildfires near the village of Sykorrahi, near Alexandroupolis town, in the northeastern Evros region, Greece. PHOTO: AP

ATHENS, GREECE (AP) – Authorities battling a major wildfire in northeastern Greece that has been described as the European Union’s (EU) largest single recorded fire have recovered another body, the fire department said yesterday, bringing the total death toll from wildfires in Greece this week to 21.

The fire department said firefighters recovered the body of a man from the Dadia forest national park, which lies near the border with Turkiye, on Thursday.

Eighteen bodies were discovered on Tuesday near a shack in an area near the northeastern city of Alexandroupolis and the body of one more person had been found on Monday in a forest. In central Greece, a man was found dead on Monday in a sheep pen after reportedly trying to save his livestock from an advancing wildfire.

With no reports of missing people in northeastern Greece, authorities suspect the bodies found in the area are those of migrants who may have crossed into the country recently from the nearby border with Turkiye. Greece’s Disaster Victim Identification Team has been activated to identify the remains, and a telephone hotline has been set up for potential relatives of the victims to call.

Across Greece, hundreds of firefighters were making headway yesterday in tackling multiple wildfires burning for days, including the major blaze near Alexandroupolis and one on the fringes of Athens.

Flames burn a forest during wildfires near the village of Sykorrahi, near Alexandroupolis town, in the northeastern Evros region, Greece. PHOTO: AP

With gale force winds abating, the situation appeared improved, although neither of the two main wildfires had yet been brought under control, the fire department said.

The Alexandroupolis region fire was burning for a seventh day after combining with smaller fires to create a massive blaze that consumed homes and vast tracts of forest.

According to the EU’s Copernicus Emergency Management Service, the Alexandroupolis fire had scorched over 772 square kilometres by Thursday. Copernicus is the EU space programme’s Earth observation component and uses satellite imagery to provide mapping data.

European Commissioner for Crisis Management Janez Lenarcic described it as the largest wildfire on record in the EU.

Authorities were concentrating on two active fronts, the fire department said, with 295 firefighters backed up with 85 vehicles, four planes and two helicopters.

To the south in Athens, a major fire that scorched homes on the fringes of the Greek capital and entered the national park on Mount Parnitha had one main active front, the fire department said. The blaze was being tackled by 260 firefighters backed up by 77 vehicles, eight planes and five helicopters.

Authorities have been faced with dozens of new fires each day, with the fire department saying its forces tackled 104 blazes in the 24 hours between Wednesday and Thursday evening.

Officials said arson has been to blame for some fires. On Thursday, police arrested a 45-year-old man on suspicion of arson for allegedly setting at least three fires in the Avlona area north of Athens. A search of his home revealed kindling, a fire torch gun and pine needles, police said.

The fire department said yesterday another man was arrested on the island of Evia for deliberate arson, while on Thursday a man was arrested for negligent arson after allegedly throwing a burning cigarette into a field of dried grass and olive trees, sparking a fire.

How to breakup

    PHOTO: ENVATO

    ANN/THE DAILY STAR – It’s a common experience. That moment when you realise the ship of love you once thought was unsinkable is taking on water faster than you can bail it out.

    Breaking up might be hard, but it doesn’t have to be a melodramatic soap opera. It’s time to grab life by the heartstrings and master the art of splitting up. This is a guide on how to break up the healthy way, the guy’s edition!

    THE CANDID CHAT: HONESTY IS YOUR WINGMAN

    When the road to romance takes an unexpected turn, it’s time to put on your communication hat on and have the talk. Keeping it real is key. While it might be tempting to dodge the truth, opting for a straight-up, no-nonsense approach is the way to go. Share your reasons thoughtfully and honestly, giving both of you a clear understanding of why it’s time to say goodbye.

    THE HEARTFELT HEART-TO-HEART: LESS DRAMA, MORE DIALOGUE

    Imagine that it’s a friendly coffee chat rather than a dramatic monologue. Create a space where both of you can express your feelings and thoughts openly. Remember, it’s a two-way street, so listen attentively and offer your understanding. Avoid overloading the conversation with heavy emotions – keep it balanced and respectful. The goal? To walk away feeling like mature adults who’ve just tackled a tough situation with grace.

    A NEW CHAPTER OF CONNECTION: THE FRIENDSHIP TRANSITION

    Think of it as a pivot from romantic partners to supportive pals. Express your desire to maintain a friendship, but be prepared for a transition period. Give each other the time and space needed to adjust to this new dynamic. Much like a chameleon adapts to its surroundings, your relationship could evolve into a genuine friendship over time.

    PHOTO: ENVATO

    THE SYMBOLIC EXCHANGE: A FAREWELL TO HOODIES

    Remember that hoodie she lovingly borrowed (and maybe never returned)? It’s time to reunite it with your closet. In the world of breakups, the hoodie exchange has become a symbolic rite, signaling the end of an era while making room for fresh beginnings. So, gather your borrowed items and graciously return them, indicating a mutual understanding that it is time to move on.

    BELIEVE IN THE POWER OF EXERCISE: WORK IT OUT

    Do your feelings appear to be on a rollercoaster? Go to the gym instead! Exercise is an effective stress reliever and endorphin booster. Physical activity, whether lifting weights, strolling around the block or trying out a new sport, will not only make you feel better but will also help you clear your thoughts. It’s a practical approach to managing the stormy rivers of emotions.

    ME, MYSELF, AND FRESH STARTS

    Embrace your solitary status by investing in yourself. Reconnect with old passions, explore new ones, and reflect on your personal growth. This is an excellent opportunity to showcase your individuality. Remember that becoming the best version of yourself is the finest revenge.

    FACE THE UNWRITTEN FUTURE

    As the dust settles, remember that life is an exciting adventure that is only getting started.

    Allow oneself to be receptive to new experiences, people, and opportunities. You are embarking on an adventure with endless possibilities, much like a traveller exploring uncharted land. So, grab your belongings and look to the horizon.

    Breaking up is merely one chapter in a much longer story. You can handle the difficulties of separation with maturity, understanding, and a sense of humour, emerging stronger, wiser, and ready to face whatever the future holds. Keep your heads up, gentlemen – the best is yet to come! – K Tanzeel Zaman

    UN Geneva complex shuts briefly after ‘intruder’ breaks into security perimeter

    The United Nations headquarters in Geneva, Switzerland. PHOTO: AP

    GENEVA (AP) – The sprawling United Nations (UN) compound in Geneva was briefly shut down yesterday after an intruder broke through the security perimeter, a spokesperson said.

    Alessandra Vellucci said the incident lasted no more than about half an hour, and that UN security teams and Geneva police were investigating.

    She declined to identify the “intruder” or say whether he or she was in custody, but called it a “minor” incident.

    The Geneva site, which houses a vast array of operations by the world body, is the second-largest UN facility outside of its headquarters in New York and is home to its European headquarters.

    The United Nations headquarters in Geneva, Switzerland. PHOTO: AP

    A timeless symbol of racial unity

    One of the Nyonya Kebaya designs. PHOTO: BERNAMA Sulaman pada kebaya nyonya yang ditawarkan di butik berusia enam dekad itu dihasilkan menerusi jahitan tangan bagi mendapatkan sulaman yang kemas, teliti dan berkualiti. -- fotoBERNAMA (2023) HAK CIPTA TERPELIHARA

    BERNAMA – Stepping into Ang Eng Boutique at Dataran Palma Ampang, Selangor, is like taking a step back in time.

    This heritage outlet lends rich insight into the Melaka Chinese Peranakan community, as depicted in a popular comedy drama series in the 1990s, ‘Baba Nyonya’.

    The boutique transports visitors back to the home of the Babas and Nyonyas, a unique cultural hybrid with a cosmopolitan persona that flourished for centuries throughout Malaysia.

    In the centre, rows of authentic nyonya Melaka kebaya tops in a rainbow of colours were neatly arranged, with a welcoming signage on the wall depicting its name, ‘Ang Eng’ engraved in red on classic black wood and antique Chinese furniture exuding a warm, cosy and rustic ambience.

    TIMELESS ELEGANCE

    The boutique is akin to an exhibition, allowing visitors to immerse themselves in the artworks on display.   

    Mesmerised by the family collections which had been painstakingly preserved, this writer had the opportunity to enjoy an art and fashion experience that was educational, inspiring and completely breathtaking.

     “Welcome to Butik Ang Eng,” said boutique manager Lim Yu Lin, 53, who was stylishly dressed in maroon-coloured nyonya kebaya paired with jeans, as she warmly greeted this writer.

    One of the Nyonya Kebaya designs. PHOTO: BERNAMA
    Ang Eng Boutique owner Lim Yu Ling. PHOTO: BERNAMA

    Yu Lin, who was born in Alor Setar, Kedah with Hokkien background said the boutique was founded by her late grandmother, Lim Wah Choon in 1955 in Yan, Kedah; the legacy continued with the capable hands of her (Yu Lin) mother Lean Ong, who shared the same vision.

     “It was grandma who gave the name ‘Ang Eng’. The  word ‘Ang’ means ‘red’ while ‘Eng’ means bird in Hokkien. ‘Ang Eng’ or red bird is symbolic of the Chinese community especially among Babas and Nyonyas as it is believed to bring good luck.

    “The embroidery on the Nyonya Kebaya is embellished with intricate patterns and designs that incorporate traditional motifs depicting animals such as fish and dragons other than birds,” Yu Lin, who is the third generation successor, told Bernama.

    Yu Lin and her husband Lim Chung Hau, 57, were running the business at the Great Eastern Mall prior to shifting its operation to the current outlet at Dataran Palma, Ampang last year.

    Butik Ang Eng offers a variety of collections of Nyonya Kebaya including Chinese traditional costumes, which made fashion statements at many international fashion runways.

    She said despite the latest couture-related fashion collections taking centre stage at fashion shows in Malaysia and abroad, the alluring Nyonya Kebaya, known for its timeless elegance and intricate design remains popular.

    “In the past, the Nyonya Kebaya was generally regarded as more suitable for the older women, especially among the Babas and Nyonyas.

    “The revival of the Nyonya Kebaya was best attributed to the late Datin Seri Endon Mahmood (wife of the fifth Prime Minister Tun Abdullah Ahmad Badawi) who successfully turned the attire to a fashion statement.  She was also known for her role in promoting batik and songket, raising their national status while forging an international presence in fashion wear,” she added.

    The late Endon, who was the founder and chairman of Yayasan Budi Penyayang (PENYAYANG) shared her impressions of the Nyonya Kebaya in her 140-page coffee table book, The Nyonya Kebaya devoted to this fashion icon, which was launched in November, 2002. The highlight of this book was a showcase of kebayas from Endon’s own collection.

    Endon died on October 20, 2005 at the age of 64 after a long battle with breast cancer.

    OVER 60 YEARS IN BUSINESS

    Reminiscing the memorable years as a child, Yu Lin said she was brought up in a family who were actively involved in business.

    “My grandfather was the owner of dried seafood while my grandmother was very passionate about the Nyonya Kebaya and learned to sew the dress on her own. In 1955, she started her own baju kebaya business on the floor right above my grandfather’s dried seafood shop.  

    “She hired local women from the neighbourhood, her nieces and her own daughters and my female cousins to help out with the sewing,” she recalled.

    In 1975, her family decided to migrate to the city and open a small boutique at Ampang Park and was operating there for 20 years before shifting their operation to Great Eastern Mall.

    “At that time, my grandmother had already started to receive orders from customers from Nyonyas in Melaka, and from there the sewing patterns were based on the original Nyonya Kebaya designs, while my mother was mainly accepting orders from Malay customers,”  she shared.

    Following in her mother’s footsteps, Yu Lin had been trained at a young age to inherit the traditional kebaya sewing skills besides producing the handmade embroidery to complement the outfit.

    “Our grandmother was very firm and wanted her grand children to master the traditional art of sewing especially embroidered kebaya so that the future generation can appreciate the cultural kebaya heritage.

    “The handmade embroidery is our signature, a product that we inherited over six decades as a maker of authentic Nyonya Kebaya.

    “We believe in every stitch makes a perfect piece.

    “Besides our hand-stitched kebaya, we also produce embroidered Nyonya Kebaya using electric sewing  machines. Customers can choose between kebaya made of soft Japanese kasa cotton or Swiss voile,” she said.

    NYONYA KEBAYA FEATURES

    According to Yu Lin, the classic Nyonya Kebaya is the short kebaya (kebaya pendek) designed with the top covering the shoulders until buttocks and are short-sleeved or three quarter-sleeved.

    “The classic Nyonya Kebaya does not have any button as it is designed like the Japanese kimono, with the central opening of the blouse fastened by kerongsang and dokoh (brooches) where the flaps of the blouse meet.

    “The kerongsang complements the Nyonya Kebaya which is worn over a batik sarung, adding a touch of sophistication and elegance to the wearer’s overall look,” she said.

    Yu Lin said the kebaya is tailor-made to suit the customer’s request and in addition, it should be suitable for the wearer’s skin colour, body shape and type of job.

    “For example, Malay customers prefer the long kebaya, a knee-length, long-sleeved tunic, with the embroidered design using flora and fauna motifs, with dark colours to cover the wearer’s body perfectly.

    “Chinese Peranakan customers in particular prefer vibrant colours such as turquoise, yellow, pink and emerald green, and is paired with embroidered  motifs of animals that are believed to bring good luck to the wearer such as dragons, birds and chicken,” she said.

    Nyonya Kebaya is also gaining popularity among the younger generation of all races, she said, noting that besides its elegance, it can also be worn with a long skirt, pareo and pants.

    “While the Nyonya Kebaya is often regarded as more suitable for older women and worn over batik sarung, the younger generation prefers to pair it with jeans, making kebayas a more fashionable outfit.

    “However, what remains till today is that the kerawang (cutwork) embroidery for every Nyonya Kebaya collection highlights the uniqueness and the Chinese Peranakan heritage. The kerawang design is usually chosen to accentuate the wearer’s personality and is then matched with the fabric before it is sewn,” she said.

    For a pair of Nyonya Kebaya, Yu Lin would assign the sewing and embroidery stitching tasks to her workers, and these usually take about one to three months to complete, depending on the complexity of the design and based on the customer’s request.

    “We’ll start with the dress first; the cutwork will be in the final stage before it is matched with the outfit especially at the bottom section of the kebaya and the sleeves,” she said.

    NYONYA KEBAYA FOR ALL

    Contrary to perceptions that the Nyonya Kebaya is only suitable for slim women, Yu Lin opined that anyone can wear the kebaya or cheongsam as it can accentuate their beauty.

    “While the Malays, Chinese and Indians have their own traditional attire, the Nyonya Kebaya is often the choice as it is comfortable to wear not only during festivals, but also at official events including weddings, engagements and dinner functions, and in fact, it can be worn daily.

    “This indirectly proves that the Nyonya Kebaya is a symbol of unity as all women irrespective of their backgrounds, can wear it,” she said.

    “I’m very fortunate to be born in a family who are skilled in sewing Nyonya Kebaya and for inheriting the embroidery craftsmanship, which is a dying art as many do not have the knowledge in embroidery stitching. 

    “I was at first not really interested in acquiring the sewing skills after spending almost every day behind the sewing machine, and I was determined to enrol in a fashion design course at an international private college after completing my Sijil Pelajaran Malaysia in the 1990s,” said Yu Lin, who is often invited to promote her Nyonya Kebaya collections at fashion shows and beauty pageants.

    NOMINATED AS UNESCO HERITAGE

    Last April, the Ministry of Tourism, Arts and Culture (MOTAC) has said that Malaysia will be leading an initiative to nominate ‘Kebaya: Knowledge, Skills, Traditions and Practices’ as an intangible heritage under the United Nations Educational, Scientific and Cultural Organisation’s (UNESCO) Representative List of the Intangible Cultural Heritage of Humanity for 2023.

    It said the nomination effort is to ensure the kebaya remains protected through the delivery of knowledge, promotional efforts, and documentation or research efforts with the support of the other countries involved in the nomination.

    Malaysia will be doing this alongside Brunei, Indonesia, Singapore and Thailand as the kebaya represents and celebrates a shared historical legacy and is still worn in communities across Southeast Asia, MOTAC said in a statement.

    Meanwhile, the founder and President of Miss Malaysia Kebaya (MMK) Dr Jason Hee said in addition to organising various programmes to promote kebaya-wearing among the local women, the organisation has also showcased the kebaya through beauty pageants and international fashion shows. – Soon Li Wei

    UK probes sale of suicide substances from Canadian website

    PHOTO: ENVATO

    LONDON (AFP) – Britain’s National Crime Agency (NCA) said yesterday it launched an investigation into the deaths of 88 people in the country who bought substances to assist with suicide from Canadian websites.

    “The NCA has taken the decision to conduct an investigation into potential criminal offences committed in the United Kingdom (UK). This operation is under way,” said NCA Deputy Director Craig Turner.

    The law enforcement agency, sometimes called the UK’s FBI, added that “at this early stage there are no confirmed links between the items purchased from the websites and cause of death in any of these cases”.

    The announcement came after Canadian Kenneth Law, 57, was arrested in Ontario and charged with two counts of counselling and aiding suicide.

    He is accused of selling a lethal substance to people across the world, with UK media reporting he sent 1,200 packages to 40 countries.

    Police in the United States, Italy, Australia and New Zealand are also investigating his actions.

    PHOTO: ENVATO

    The power of pink in men’s fashion

      PHOTO: YOURAVERAGEGUYSTYLE.COM, FASHION NOVA, AXELLE/BAUER-GRIFFIN & FACEBOOK/BANGTAN.OFFICIAL

      ANN/THE DAILY STAR – As summer dawns, the sight of stylish men confidently donning pink is more captivating than ever! With the colour pink transcending traditional gender boundaries, it has become a centrepiece in the realm of men’s fashion worldwide. Possibilities and creative styling await exploration within the realm of men’s pink apparel, spanning from laid-back casual wear to sophisticated formal ensembles.

      SHADES AND PINK

      Pink is one of the most versatile colours since it complements so many standard menswear shades. Pink goes well with neutral colours like grey, blue, and brown. It also looks best with darker hues like navy blue, black, grey and white.

      So, the remainder of your colour scheme may be chosen with relative ease. If your complexion is fair, a darker pink will look better on you. On the other hand, a pastel or light pink looks good on darker skin.

      CLASSY PINK

      Every guy needs a pink long-sleeved shirt in his closet. Perhaps you already have one hiding out under the guise of “salmon” colour! A pink Oxford shirt is probably one of the best options for tackling pink with elegance for men. If you want to avoid wearing a suit to work but yet want to seem polished, try pairing a pale pink Oxford shirt with light chinos.

      Moreover, a grey or blue suit paired with a pink shirt is a classic combination that you absolutely must have in your wardrobe.

      Photos show how various shades of pink complement different skin complexions. PHOTO: YOURAVERAGEGUYSTYLE.COM, FASHION NOVA, AXELLE/BAUER-GRIFFIN & FACEBOOK/BANGTAN.OFFICIAL
      PHOTO: YOURAVERAGEGUYSTYLE.COM, FASHION NOVA, AXELLE/BAUER-GRIFFIN & FACEBOOK/BANGTAN.OFFICIAL
      PHOTO: YOURAVERAGEGUYSTYLE.COM, FASHION NOVA, AXELLE/BAUER-GRIFFIN & FACEBOOK/BANGTAN.OFFICIAL

      TRADITIONAL PINK

      Pink kurtas are also amazing to add to your closet! You may pick from a broad choice of basic cotton kurtas, kurtas with block patterns, and embroidered pink silk kurtas depending on the event that you will be attending. Put it on with white trousers or trousers in a colour that stands out from the top to get the perfect festive look. You may also look your best during the celebrations by wearing a pant and a pink kurta with elaborate embroidery.

      FORMAL PINK

      These days, a pink blazer is a wardrobe must. Blazer fabrics range from linen and cotton to polyester and silk, among many others. The finest appearance for weddings or other formal events may be achieved by selecting from a broad variety of patterns, such as floral, checkered, solid and geometric. This season, salmon pink and coral pink, two warm colours that do not fail to impress, are ideal for adorning blazers and coats.

      FUN PINK

      If you want to try out the cheerful pink colour without making a complete commitment to your outfits, go for pink accessories. Pink may be shown off with the help of some cool and fun accessories. Socks, hats, belts, and pocket squares are all easy accessories to play around with.

      But if you want to keep things understated, choose just one item in that shade. In fact, a trainer bag or bum bag is one of the most popular pink accessories for guys!

      Put simply, pink is vibrant and strong and complements many men’s natural complexions and personalities. So, now is the time to go and try out your pink fashion to appear confident, attractive, and successful anywhere.

      Starry prints, Gothic edge

      PHOTO: AP

      AP – Charles Jeffrey Loverboy, the label of the self-proclaimed club kid and Scottish-born designer Charles Jeffrey, brought joy to the runway with fanciful storytelling though knitwear, kilting and prints.

      Jeffrey presented his ‘Engine Room’ collection through three subcultures in a mythical floating city: workers, whose toil keeps the city aloft; posers, or former workers who now bask in luxury; and snakes, aka, the media. While other brands hewed toward the minimal, Jeffrey went maximal, with a focus on sartorial details and an explosion of colour.

      The workers were clothed in grey, black and white, faces smudged, with starry prints and clawed footwear. Posers burst with colour, including graphic prints from the archives of the Scottish artist and playwright John Byrne, metallic accents and endearing knitwear with kwai detailing like hoods with ears. The snakes had a Goth edge, dark garments giving way to newsprint prints against a black-white-and-red (read) palette.

      Jeffrey called the collection “a celebration of Scotland, workers and Renaissance people”.

      PHOTO: AP
      PHOTO: AP
      PHOTO: AP
      PHOTO: AP
      PHOTO: AP
      PHOTO: AP
      PHOTO: AP
      PHOTO: AP

      Lebanon’s interim central bank chief vows not to lend money to government, calls for economic reform

      Lebanon’s incoming interim governor Wassim Mansouri. PHOTO: AP

      BEIRUT (AP) – Lebanon’s interim central bank governor called on the country’s ruling class yesterday to quickly implement economic and financial reforms warning that the central bank won’t offer loans to the state and does not plan on printing money to cover the huge budget deficit to avoid worsening inflation.

      Wassim Mansouri’s comments came nearly a month after he took over the leadership at the central bank after the term of his predecessor Riad Salameh ended on July 31.

      Lebanon is in the grips of the worst economic and financial crisis in its modern history. Since the financial meltdown began in October 2019, the country’s political class – blamed for decades of corruption and mismanagement – has been resisting economic and financial reforms requested by the international community.

      Since taking office, Mansouri has been urging the government to pass some reforms, cautioning that the central bank cannot continue to spend money to fund the government’s budget deficit.

      “Every day we waste without drafting laws, losses increase as well as the possibility of a state collapse,” he said yesterday.

      Lebanon’s incoming interim governor Wassim Mansouri. PHOTO: AP

      Mansouri added that the 2023 budget that was approved by the government last week had a 24-per-cent deficit while the central bank had asked for a deficit-free budget.

      “The central bank will for sure not cover the deficit by lending the government neither in US dollars nor in Lebanese pounds,” Mansouri said. “Lebanese pounds will not be printed to cover the deficit because you know what this will lead to.”

      He added that the state should pursue tax collection, reopen state institutions and put more control on what flows through its border for taxation, in an apparent reference to smuggling.

      Mansouri said Lebanon’s economy has become cash-based since the crisis began, warning that this could have repercussions on the country in the future.

      Two weeks ago, a forensic audit into Lebanon’s central bank by a New York-based company revealed years-long misconduct by the bank’s former governor Salameh and USD111 million in “illegitimate commissions”.

      Alvarez and Marsal said the central bank’s “refusal to provide direct access to its systems and to allow work to be conducted” on its premises had “significantly delayed and slowed” the audit.

      Mansouri said yesterday the central bank will cooperate with Alvarez and Marsal and hand over documents needed to the international company as well as Lebanon judicial authorities.

      Bank Indonesia maintains key rates for seven months straight

        Indonesian Finance Minister Sri Mulyani Indrawati, Coordinating Economic Minister Airlangga Hartarto, Bank Indonesia Governor Perry Warjiyo and Financial Services Authority Chairman Mahendra Siregar in a group photo. PHOTO: THE JAKARTA POST

        ANN/THE JAKARTA POST – The Bank of Indonesia (BI) maintained its benchmark interest rate at the same level for a seventh straight month at its monthly monetary meeting.

        Following a meeting on Thursday, BI Governor Perry Warjiyo briefing the media said the benchmark seven-day reverse repo rate will remain unchanged.

        “The decision to maintain the BI 7-Day Repo Rate (BI7DDR) at 5.75 per cent is consistent with the monetary policy to ensure that inflation falls into the target range,” said Perry.

        The central bank’s consumer price index (CPI) target for this year is three plus/minus one per cent. For 2024, it is set to 1.5 to 3.5 per cent.

        Statistics Indonesia (BPS) revealed earlier this month that annual growth of the CPI was 3.08 per cent in July, down from 3.52 per cent in June.

        Following months of high price pressure, inflation in Indonesia has remained within the BI range since May, when the CPI grew at exactly four per cent.

        Indonesian Finance Minister Sri Mulyani Indrawati, Coordinating Economic Minister Airlangga Hartarto, Bank Indonesia Governor Perry Warjiyo and Financial Services Authority Chairman Mahendra Siregar in a group photo. PHOTO: THE JAKARTA POST

        The latest economic growth figures have also been solid as the country beat expectations with second-quarter gross domestic product growth of 5.17 per cent, as revealed by BPS on August 7.

        Overall economic conditions are not without risks though, given the economic slowdown in China, Indonesia’s main trade partner.

        However, Perry said the archipelago’s economy remained solid, driven by domestic spending, and that the central bank was not going to respond by cutting rates just yet.

        BI is currently working off a baseline scenario of the United States Federal Reserve raising its federal funds rate by 25 basis points once more this year in September.

        In the briefing, BI also noted that foreign exchange time deposits had begun to gain traction in response to new rules mandating that commodity firms keep their export receipts (DHE) within the country.

        BI launched seven financial instruments for that purpose.

        BI Deputy Governor Aida Budiman said at the same briefing that DHE time deposits had started to show “signs of upswing”.

        As an incentive, the central bank offered competitive rates for exporters’ deposits, designed to be higher than those offered by foreign banks. The government also offers much lower tax rates on export receipts held in the country than typical time deposits, which were taxed at around 20 per cent.

        Month-long foreign earnings time deposits are taxed at 10 per cent, but the rate drops to 2.5 per cent for tenors of six months and to zero for tenors longer than six months.

        The Finance Ministry offers even lower tax rates if exporters convert their earnings to rupiah, she said.

        Hong Kong struggles to maintain shopper’s haven image

        Tourists waiting in line outside a luxury goods store in the Tsim Sha Tsui district of Hong Kong. PHOTO: AFP

        BLOOMBERG – Hong Kong has failed to reclaim its attraction as a global shopping paradise since the city reopened earlier this year, highlighting the economic damage left by years of seclusion.

        Tourists are not flocking to Hong Kong in the same numbers as they were before demonstrations in 2019 and subsequent restrictions in the years that followed rendered the city a no-go zone.

        Visitor arrivals in June were 42 per cent below the same month in 2018. The result is weak consumer spending. The value of retail sales that month were the lowest for any June since 2011, after stripping out 2019-2022 figures.

        The picture is a markedly different one from the last decade, when ever-rising numbers of mainland tourists crowded the city’s streets and clamoured for luxury goods. In 2018, visitor arrivals totalled 65 million, up 11 per cent from the previous year, putting Hong Kong among the most popular tourist destinations globally. That year, the city held the crown for having the world’s most expensive retail district as international brands competed to get a slice of that spending, a title it has since lost.

        Hong Kong’s fading allure as a shopping hub is one of a number of challenges the former British colony faces as it seeks to resuscitate its economy and global image. Its historically vibrant finance sector is shedding jobs amid a dearth of deals, while office rental prices have plunged after some businesses moved to Singapore.

        Many mainland tourists now prefer local cafes and restaurants as opposed to shelling out for fine dining and luxury goods, according to Hong Kong Federation of Restaurants and Related Trades President Simon Wong.

        Tourists waiting in line outside a luxury goods store in the Tsim Sha Tsui district of Hong Kong. PHOTO: AFP