Thursday, February 6, 2025
30 C
Brunei Town
More

    Egypt Central Bank hikes interest rates to limit inflation

    CAIRO (AP) – The Central Bank of Egypt raised interest rates on Thursday as the country continues to battle double-digit inflation amid a sharp currency devaluation.

    In a statement, the bank’s monetary policy committee announced that the most basic lending rate, the overnight deposit rate, was increased from 13.25 per cent to 16.25 per cent.

    Egypt’s economy has been hit hard by the coronavirus pandemic, years of government austerity measures, and fallout fromf the war in Ukraine. Egypt is the world’s largest wheat importer, and most of its imports come from Russia and Ukraine.

    Earlier this month, the International Monetary Fund (IMF) approved a USD3 billion support package for Egypt after a series of reforms by the country’s central bank began in March, including a currency devaluation that has seen the Egyptian pound lose 36 per cent of its value to the dollar since then.

    The agreement allows for an additional USD14 billion in possible financing for the Middle Eastern country.

    For months, Egypt has been battling climbing inflation, with the annual rate rising above 18 per cent in November.

    The bank said Thursday’s rate increase was designed “to contain inflationary pressures and to steer annual headline inflation rates towards its upcoming targeted levels”.

    The increase was higher than expected by some observers.

    “While the CBE (Central Bank of Egypt) was widely expected to hike rates, the scale of the move came as a surprise,” chief emerging markets economist at Capital Economics William Jackson wrote in an analysis published by the company.

    Most Egyptians depend on the government to keep basic goods affordable through state subsidies and other similar programmes, most dating back decades. Just less than a third of Egypt’s 104 million people live in poverty, according to government figures.

    As part of its agreement with the IMF, Egypt has said it is increasing its social programmes to help some of the country’s poorest and vulnerable.

    Passengers evacuated after Staten Island Ferry engine fire

    NEW YORK (AP) – Emergency personnel evacuated nearly 900 passengers from a Staten Island Ferry vessel on Thursday evening following a fire in the ship’s engine room.

    The New York City Fire Department said units responded to a report of a fire in the mechanical room of a ship in upper New York Bay shortly after pm, WNBC-TV reported.

    Five people were reported injured, three of them requiring hospital treatment, WNBC-TV said.

    Deputy Assistant Fire Chief Frank Leeb said during a news conference there were approximately 868 people on the vessel, the Sandy Ground, with an additional 16 crew members.

    The United States Coast Guard evacuated the passengers, including several wearing life jackets, to the St George Ferry Terminal on Staten Island. The ferry’s crew members were also taken off the boat. The evacuation took less than an hour, WNBC-TV reported.

    The department will wait a minimum of 24 hours and monitor temperatures before entering the engine room to determine whether the fire is completely extinguished, Leeb said. He credited the ship’s crew with fast action to notify the Coast Guard. “They were also very quick to make sure that they sealed the engine room, evacuated the area and followed the protocol to put the carbon dioxide into that” to remove the room’s oxygen, Leeb said.

    People board the Staten Island Ferry at the Whitehall Terminal. PHOTO: AP

    For the children

    The Juliet Green and White Foundation, in collaboration with Richman Foundation, is holding a holiday event for underprivileged children in Nigeria today.

    The ‘Love for the Children’ event will be part of a mission to orphans around the world to receive gifts in the form of free meals or education through schemes or programmes.

    Dr Jin Wu. PHOTO: RICHMAN FOUNDATION

    Epitome of innovation and engineering

    PARIS (AFP) – Even as animals and plants face widespread extinction from human-driven causes like climate change, the natural world continues to inspire scientific discovery in unexpected ways.

    “Nature has spent hundreds of millions of years optimising elegant solutions to extremely complicated problems,” said a biomedical engineer at the University of California in Irvine Alon Gorodetsky.

    “So if we look to nature, we can shortcut our development process and get to a valuable solution right away,” he told AFP.

    From squid-skin food warmers to a lubricant made of cow mucous, here is a selection of this year’s scientific work inspired by nature.

    Stopping the bleeding hearts and livers of dogs and rabbits without stitches may now be possible with a biodegradable plaster made of sticky okra gel.

    Okra is a fuzzy green vegetable with a slimy texture that inspired Malcolm Xing from Canada’s University of Manitoba to turn it into a medical adhesive.

    “Okra is a fantastic material,” said Xing.

    Fireflies have inspired scientists to build bug-sized robots that could be useful for search and rescue missions PHOTOS: AFP
    ABOVE & BELOW: Researchers extracted the mucous from the salivary glands of cows and turned it into a gel that binds to and constrains viruses; and squids have miniature organs called chromatophores that can drastically change size, and also help them change colour

    In the July study published in Advanced Healthcare Materials, researchers discovered that refining okra in a juicer and then drying it into a powder creates an effective bioadhesive that quickly creates a physical barrier and starts the blood clotting process.

    The researchers plan to test this plaster on humans in the coming years.

    Snot may invoke feelings of disgust, but laboratory tests found that a lubricant made of cow mucous showed promise at curtailing the spread of certain sexually transmitted infections.

    The study, published in Advanced Science in September, is very preliminary, however. It has not yet been tested on humans and should not replace other forms of protection, like condoms.

    Researchers extracted the mucous from the salivary glands of cows and turned it into a gel that binds to and constraints viruses. Mucous is made of a protein called mucin that might have antiviral properties.

    It is also both a solid and a liquid.

    “Being a solid, it can trap bacteria or viruses in the body. Being a liquid, it can clear those pathogens from the body,” said study co-author Hongji Yan from Sweden’s KTH Royal Institute of Technology in Stockholm.

    Fireflies that light up the night sky inspired scientists at the Massachusetts Institute of Technology to create tiny, bug-sized robots that emit light when they fly.

    The glowing artificial muscles help the honey bee-sized robots communicate with each other, which may make them useful for search and rescue missions someday.

    Though the robots can only operate in a laboratory environment so far, the researchers are excited at their potential future uses.

    There are an estimated 20 quadrillion ants in the world, and researchers have discovered that one species might be able to sniff out cancer in human breasts.

    In a study conducted at Sorbonne Paris Nord University and published on the preprint server bioRxiv, which has not yet been peer-reviewed, scientists used a sugar-water reward to train ants to smell the difference between mouse urine implanted with, and without, human tumours.

    While dogs can be trained to use their super noses to detect cancer, this is expensive and takes time.

    Ants might provide a cheaper, albeit less cute, alternative. The strange skin of squids has inspired a packaging material that can keep coffee and food warm for as long, or as little, as wanted, according to a March study published in Nature Sustainability.

    Squids have miniature organs called chromatophores that can drastically change the size, and also help them change colour.

    To mimic “these pigment-filled organs”, study co-author Alon Gorodetsky, from the University of California, Irvine, said they developed “little metal islands that you could move apart” and contract.

    The heat level can then be controlled by how much the material is stretched.

    “If you put it around a warm object – for example, a coffee-filled cup or a hot sandwich – you can control the rate at which it cools down,” he said.

    Australian football club sanctioned after pitch invasion

    MELBOURNE (AP) – The Melbourne Victory football club has been prevented from selling tickets to home games and fans cannot attend away matches under Football Australia’s preliminary sanctions for a violent pitch invasion.

    The Victory were put on notice after 150 spectators stormed the AAMI Park pitch in last Saturday’s A-League match against Melbourne City, forcing the match to be abandoned.

    City goalkeeper Tom Glover sustained a concussion and facial lacerations when he was hit with a metal bucket wielded by a pitch invader. Referee Alex King, a television cameraman and two security guards were also injured.

    Football Australia (FA) has not fully determined final sanctions but has put yesterday’s temporary measures in place until January 15.

    During that time, Victory fans are barred from attending their away men’s Monday match with Western United at AAMI Park. Only United members and fans who had bought a ticket before 11am Friday can attend, with other tickets to be refunded.

    Victoria Police earlier confirmed plans include “a highly visible police presence” at the game.

    Victory fans also cannot attend away men’s games against Central Coast on New Year’s Eve or Adelaide United on January 14.

    Melbourne Victory fans invade the pitch. PHOTO: AP

    Football Australia Chief Executive James Johnson said there will be additional sanctions.

    “There will be a mixture of financial and sporting measures that would be in addition to these immediate sanctions that would come into force in the next one to two weeks,” Johnson said.

    “We did feel that if we had a blanket ban, not only would we be specifically targetting those individuals whose behaviour is unacceptable, but we would also be targeting the many families in particular who are very good fans and who we welcome to football.”

    Victoria Police confirmed 29 persons have been arrested or charged over the pitch invasion, with 24 – including 11 men aged between 18 and 38 dealt with on Friday – so far facing charges. A total of 36 people have so far been identified by police.

    FA has also handed out bans preventing the pitch invaders from attending or participating in football. Two pitch invaders on Tuesday received life bans, while on Thursday eight more people were handed bans of between five and 20 years.

    About USD100,000 worth of damage was caused to AAMI Park during the pitch invasion and about 80 flares or fireworks were set off, police said.

    Max Insanity win scout’s e-sport challenge

    Lyna Mohamad

    Finalist Max Insanity outdid Last Minute, claim victory in the Brunei Scout E-sport Challenge on Thursday at the Brunei Darussalam Scouts Association (PPNBD) headquarters in Beribi, Gadong.

    Freelance Gaming, who fought to the semi-final, held the third spot. International Commissioner of PPNBD Haji Abdul Manan bin Haji Abdul Latif presented prizes to the winners.

    Organised by PPNBD, through its Public Relations and Rover Scout Division, this is the second e-sports competition ever held.

    Present to officiate the event was the Chief Commissioner of Scouts, Skipper Haji Awang Badar bin Haji Awang Ali.

    The event attracted the participation of 100 scout members and members of the public who are active gamers in the local e-sports scene.

    The competition aims to promote e-sports among scout members and the public and providing opportunity for the participants to gain more experience in e-sports.

    It also aims to provide participants with a platform to showcase skills in gaming in a healthy competitive environment and strengthen the relationship among gamers.

    The event was one of the events of Global Day of Action, which falls every December.

    PPNBD International Commissioner Haji Abdul Manan bin Haji Abdul Latif presentds the prize to Max Insanity. PHOTOS: LYNA MOHAMAD
    Members of Last Minute team pose for a group photo
    ABOVE & BELOW: Chief Commissioner of Scouts, Skipper Haji Awang Badar bin Haji Awang Ali; and one of the teams during the challenge

    Arizona to remove shipping container wall from Mexico border

    PHOENIX (AP) – Arizona will take down a makeshift wall made of shipping containers at the Mexico border, settling a lawsuit and political tussle with the United States (US) government over trespassing on federal lands.

    The Biden administration and the Republican governor entered into an agreement that Arizona will cease installing the containers in the Coronado National Forest – the only national forest along the border – according to court documents filed on Wednesday in US District Court in Phoenix.

    The agreement also calls for Arizona to remove the containers that were already installed in the remote San Rafael Valley, in southeastern Cochise County, and in the Yuma area where the US Bureau of Reclamation has an easement on the Cocopah Indian Tribe’s reservation.

    All this must be done by January 4 without damaging any natural resources.

    State agencies will have to consult with US Forest Service representatives.

    Governor Doug Ducey has long maintained that the shipping containers were a temporary fixture.

    A long row of double-stacked shipping containers provide a new wall between the United States and Mexico in the remote section area of San Rafael Valley, Arizona. PHOTO: AP

    Even before the lawsuit, he wanted the federal government to say when it would fill any remaining gaps in the permanent border wall, as it announced it would a year ago.

    “For more than a year, the federal government has been touting their effort to resume construction of a permanent border barrier. Finally, after the situation on our border has turned into a full-blown crisis, they’ve decided to act,” said Ducey’s spokesperson CJ Karamargin. “Better late than never.”

    “Final details are still being worked out on how much it will cost and when it will start,” he told The Associated Press.

    Representatives for US Customs and Border Protection did not immediately return messages seeking comment on Thursday.

    The resolution comes two weeks before Democrat Katie Hobbs, who opposes the construction, takes over as governor.

    The federal government filed a lawsuit last week against Ducey’s administration on behalf of the Bureau of Reclamation, the Department of Agriculture and the Forest Service.

    The federal government “owes it to Arizonans and all Americans to release a timeline”, Ducey wrote last week, responding to news of the pending federal lawsuit.

    The work placing up to 3,000 containers at a cost of USD95 million was about a third complete, but protesters concerned about its impact on the environment held up work in recent days.

    Meanwhile, limits on asylum seekers hoping to enter the US had been set to expire on Wednesday before conservative-leaning states sought the US Supreme Court’s help to keep them in place.

    Micron announces layoffs, cost cutting as chip demand drops

    BOISE, IDAHO (AP) – Micron will reduce its workforce by 10 per cent next year and take other cost-cutting measures as the computer memory chip maker struggles to deal with too much supply amid a drop in demand.

    Micron CEO Sanjay Mehrotra announced the restructuring during during a quarterly conference call with investors on Wednesday, noting that prices for computer memory products had “deteriorated significantly” in recent months, Boise television station KTVB reported.

    The company will cut staff by about 10 per cent throughout 2023 through voluntary departures and layoffs, according to a filing with the Securities and Exchange Commission.

    Employee bonuses will also be suspended next year and executive salaries will be reduced for the remainder of the 2023 fiscal year which runs through August, the company said.

    The Boise, Idaho-based company has about 48,000 employees across 38 sties in North America, Europe and Asia – including more than 5,000 people in Boise. It has not announced where the layoffs will occur.

    In September, Micron announced it was investing USD15 billion through the end of the decade on a new semiconductor plant in Boise expected to create 17,000 American jobs.

    The following month, the company announced another semiconductor plant would be built in upstate New York, promising a long-term investment of up to USD100 billion and a plant that could bring 50,000 jobs to the state.

    The restructure is not expected to affect those plans.

    Micron Technology CEO Sanjay Mehrotra holds up a microchip as he gives a speech in New York. PHOTO: AP

    Japan finds sea urchin cultivation to be a win-win

    NAGATO, YAMAGUCHI (THE JAPAN NEWS) – Opinions of the purple sea urchin – a source of much annoyance for fishermen due to its tendency to eat the seaweed found in fishing grounds – are shifting quickly on Omijima Island in Nagato, Yamaguchi prefecture.

    An initiative is now underway on the island to purchase purple sea urchins from fishermen to cultivate and sell them.

    Sea urchins are a luxury ingredient used in sushi and other dishes, but those growing in areas where they have exhausted the seaweed supply produce little roe and are not suitable for use as food.

    The damage to the seaweed supply also results in poor catches of abalone and sazae turban snails.

    Despite efforts to exterminate sea urchins such as by stabbing them with iron rods, the creatures have survived due to their strong capacity to reproduce.

    Uninomics Inc, a Tokyo-based company with advanced sea urchin cultivation technology, took notice of this situation and began cultivating sea urchins on the island on a trial basis in cooperation with Maruyama Suisan, a local seafood processing company.

    The sea urchins, which grew so well under cultivation that they could be shipped in about two months, were found to be sweet and rich in flavour.

    They have even been well-received by restaurants at tasting events. The two companies have completed the construction of an aquaculture facility with 200 tanks, aiming to start sea urchin shipments in the new year. They have already received inquiries from local sushi restaurants and other businesses.

    Fishers have begun to welcome the sea urchins as no longer a nuisance but a source of income.

    A new sea urchin aquaculture centre in Omijima Island, Yamaguchi prefecture, Japan. PHOTO: THE JAPAN NEWS

    The power of self-awareness

    THE WASHINGTON POST – When William Sparks was a 27-year-old graduate student in psychology, he wrote a paper on his divorce from his high school sweetheart. They had started off as equal partners.

    But she had grown increasingly dependent, he said, and he resented having to make all the decisions.

    His professor, a psychologist known for blunt honesty, called him into his office. “How did you help create this dysfunction?” he asked.

    “I’ll bet you had to have the last word in every argument,” the professor said. “Did you give unwanted advice? Were you always right, which made her always wrong?”

    “It felt like a punch in the stomach,” Sparks recalled. Soon, he admitted to himself, “he was right”.

    It was “a defining moment”, said Sparks, now a leadership development expert and professor at Queens University of Charlotte in North Carolina.

    His professor had given him the gift of self-awareness.

    Psychologists call self-awareness an aspect of emotional intelligence. It’s the capacity to reflect on oneself and “to accurately assess one’s strengths and weaknesses,” said clinical psychologist in Southern California Ramani Durvasula.

    “The other half is being aware of how you affect other people.”

    Being attuned to how our conduct affects others might cause them to reciprocate in kind.

    “By being self-aware, we may actually leave people feeling more comfortable, leading to a far more prosocial and healthier social environment,” she said. “I actually think that self-awareness would change the world overnight if everyone could practice it.”

    Self-awareness is key to a life well lived, said psychologist who is a senior fellow at the University of California at Berkeley’s Greater Good Science Center Rick Hanson.

    “The more aware you are, the more information you have,” he said. “You can be guided by that.”

    In an increasingly distracted and technological world, though, self-awareness seems to be waning, Durvasula said.

    Kara McDuffee realised in her mid-20s that she wasn’t self-aware. Instead, she had followed an often-unquestioned script.

    “We don’t even realise the narratives that we’re subscribing to,” said McDuffee, now 29 and working in communications at a New Hampshire boarding school. She strove for the perfect relationship, the perfect career and the big life mission, she said, but still felt dissatisfied.

    In therapy, she began to figure out what would make her truly happy. Seeing a counsellor also helped her discover blind spots, including in her romantic relationships.

    “Rather than going into those patterns that I used to – which ranged from extreme control issues to being hypercritical and argumentative – I stop that negative cycle,” she said, “and instead, I find a healthier way to outlet those emotions”.

    McDuffee now writes on self-awareness and tries to plant seeds of self-reflection in teens, including those she advises and coaches in sports.

    “We have so many distractions with our phones and technology,” she said.

    “There’s never a moment where kids can pause and daydream.”

    Instead, teens are bombarded with images of a supposedly coveted life that’s “just kind of fabricated on social media”, McDuffee said. “They’re just taking in all this information without necessarily having the skills to question that.”

    Besides introspection, self-awareness also involves regulating how one thinks and acts in the moment and understanding how one affects others and how one is perceived, she said.

    Self-awareness can be an important part of dating, among other things. Janak Jobanputra, 28, was walking home after another disappointing date when he stopped at a doughnut shop.

    The man behind the counter engaged him in friendly small talk. Jobanputra bought a doughnut, and the man handed him another doughnut free.

    “You know what? I like you. You seem like a really nice guy,” Jobanputra recalled him saying.

    Jobanputra, a Manhattan resident who works for a medical device company, tried to reconcile the events of the night.

    Was he the good guy that the doughnut shop owner saw? If so, why couldn’t his dates see that quality? “All of those interactions on dates make me question my self-worth,” he said.

    ” ‘Am I really a good person? Am I really the person who I believe I am?’ “

    The interaction in the shop “reinvigorated my belief in my self-worth. That mismatch triggered something in me,” he said.

    “How am I presenting myself in the wrong light in different areas?”

    Becoming self-aware calls for self-compassion, Durvasula said. “Self-awareness doesn’t mean you walk around and think you’re great,” she said. “It is an accurate self-appraisal.”

    Everyone has strong and weak areas, she said.

    It’s natural to feel defensive, but Sparks had the humility to accept his professor’s critique.

    Now, more than 25 years later, he sees a widespread reluctance to discuss any shortcomings. “I do think that, culturally, we’ve shifted from that and that troubles me greatly,” he said. Instead, society overemphasizes finding one’s strengths.

    “I think too much time and attention has been spent on self-esteem,” Durvasula said. Self-awareness isn’t the same as self-esteem, which describes someone’s subjective sense of personal value.

    “Self-esteem may not always be accurate,” Durvasula said. In some, it’s exaggerated.

    In others, it’s unrealistically deflated. Both lead to distorted self-awareness, she said.

    Self-awareness can bring collective good. “For how many people who are out there knocking themselves out to get good abs,” she said, “I wish people would put that same effort into developing self-awareness.”

    Self-awareness isn’t a fixed state of being either self-aware or not. Rather, “there’s a real dynamic quality,” Durvasula said. It’s possible to build self-awareness, and here are some ways suggested by experts:

    Slow down: “We are all moving so quickly. And in that quickness, that really drives the stress, the anxiety, the distractions,” Durvasula said.

    “It’s very difficult to be self-aware when we’re jumping from thing to thing to thing.”

    Reflect: Think about how your life is going, Hanson said.

    “What patterns aren’t serving you well? What are you afraid of or avoiding? What are you failing to develop, maybe from fear? What’s left out?” he said.

    Consider strengths, too. “Most of the time, people are quite aware of their failings and faults,” Hanson said. “They’re not very aware of their steadfastness, their good intentions, the ordinary kindness in them.

    Spend time with others: Social interactions teach us a lot, Durvasula said, whether we’re hanging out with friends or simply going to the grocery store.

    “Be aware of how you are impacting other people through your conduct, through your words, through your actions,” she said.

    Consider therapy: Therapy can help with inner exploration, Durvasula said. Insights can help stymied clients make progress with major life issues.

    Trending News