Retail: Retailer-made

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Keynesian economics is still big in Bucks

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The price of betrayal

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Who will surf the Bluewater tidal wave?

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Investment: The funds’ big dilemma

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Wates lights City touchpaper with pre-2000 celebrations

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Weardale’s hotspot

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PREMIUMReligious representation ‘vital’, experts say after Religious Affairs Ministry blunder

first_imgLinkedin Log in with your social account Forgot Password ? LOG INDon’t have an account? Register here Facebook Google Topics : To ensure the rights of all religious groups in the country are protected, it is vital that representatives of each group hold strategic posts in the Religious Affairs Ministry’s community guidance directorates general, experts have said following the public outcry over the recent appointment of a Muslim official as the acting head of Catholic affairs.Religious Affairs Minister Fachrul Razy’s decision to appoint a Muslim to head the Catholic Affairs Community Guidance Directorate General caused disquiet among followers of the religion.Acknowledging the move was a blunder, the ministry appointed Aloma Sarumaha as the acting director general, replacing the ministry’s secretary-general Nur Kholis Setiawan who was previously appointed to the position. Aloma, who is a Catholic, previously held the position of secretary in the same directorate general.Aloma’s … Religious-Affairs-Minister Religious-Affairs-Ministry Fachrul-Razi Islam Catholic minority-groupslast_img read more

Garlic prices push annual inflation to 2.98% in February

first_imgTopics : “We have conducted many assessments on whether the low inflation rate is structurally caused by the fact that we’re entering a low inflation era or is temporary in nature because the demand side is weak. The conclusion is that it’s a combination of the two,” Destry told attendants of the 2020 CNBC Indonesia Economic Outlook in Jakarta on Wednesday. “On the one hand, our demand side is low. Household spending [growth] reached the lowest [rate] yet in 2019, below 5 percent, at 4.97 percent.”According to BPS data, household spending, which accounts for more than half of Indonesia’s economy, grew at 4.97 percent in the fourth quarter of 2019. “But there are other factors that make us confident that we can keep inflation at low levels going forward,” Destry said.She added that there were three reasons underlying BI’s confidence over Indonesia’s economic outlook: the effectiveness of the inflation monitoring team, a more transparent economic system and the influence of a digital economy.BPS applies a new formula for calculating its consumer price index (CPI), using 2018 as the base year of the CPI instead of 2012, as well as a new consumption pattern since January. Volatile food inflation was recorded at 6.68 percent in February year-on-year (yoy), while core inflation was steady at 2.76 percent. Government-administered prices only saw 0.54 percent yoy increase.Food Resilience Agency (BKP) head Agung Hendriadi said garlic stocks had already fallen to 80,000 tons as of Thursday. With monthly garlic consumption of some 46,000 tons, current stocks would only suffice until April.Read also: Garlic stock will only suffice until April without Chinese imports Headline inflation in Indonesia rose to 2.98 percent in February from 2.68 percent in January, driven by higher prices of garlic and cayenne, among other commodities.“The highest inflation was recorded in the food, beverages and tobacco [category], especially garlic, cayenne and meat,” Statistics Indonesia (BPS) head of statistics distribution and services Yunita Rusanti told a news conference in Jakarta on Monday.“There is a shortage of garlic. It could be due to the coronavirus, as we import the majority of our garlic from China, but what is clear is that the price increase is due to a lack of supply.” The Business Competition Supervisory Commission (KPPU) has rejected claims that the coronavirus disease 2019 (COVID-19) diminished garlic imports from China. KPPU commissioner Guntur Saragih blamed slow import realization for the scarcity, which he said had already happened before the virus broke out.Monthly inflation in February was 0.28 percent, with core inflation at 0.14 percent and volatile food inflation at 1.27 percent. By contrast, government-administered prices fell over the month, dropping 0.11 percent.“The deflation [in government-administered prices], was recorded in the transportation sector thanks to lower gasoline prices for Pertamax and Pertamax Turbo,” said Yunita, adding that lower airfares had also dragged down prices.Bank Mandiri chief economist Andry Asmoro highlighted that annual core inflation at 2.76 percent in February was lower than the 2.88 percent rate seen in January. “This indicates weakening purchasing power,” he added.“Stable inflation may support BI’s [Bank Indonesia] agenda to maintain an accommodative monetary policy in 2020,” Andry wrote. “We see there is still, albeit limited, room for BI to conduct another policy rate cut by 25 basis points to 4.5 percent before the second half.”Andry explained that the limited room would be caused by the adverse effect of COVID-19 on the trade balance and capital flows.BI has an inflation target of between 2 percent and 4 percent for this year and an economic growth forecast of 5 percent to 5.4 percent. Indonesia’s gross domestic product (GDP) grew 5.02 percent in 2019, the slowest in four years.Indonesia recorded inflation of 2.72 percent in 2019, the lowest full-year rate in about two decades as purchasing power was under pressure from a global and domestic economic slowdown.Efforts by the central bank and government to keep consumer prices under control also reined in inflation, according to Bank Indonesia (BI) Deputy Governor Destry Damayanti.BI has an inflation target of between 2 percent and 4 percent for this year.Read also: BI sees weak consumer demand contributing to low inflationlast_img read more

Olympic postponement may be ‘inevitable’, Japan’s PM says

first_img‘Many, many more challenges’ But the IOC warned that the logistics of postponing the Games were extremely complicated, with venues potentially unavailable, millions of hotel nights already booked and a packed international sports calendar.”These are just a few of many, many more challenges.”The IOC is responsible for making any final decision on the Games, and has come under increasing pressure as the coronavirus crisis grows, with more than 14,300 deaths worldwide by Sunday, according to an AFP tally.The virus has already had an impact, with qualifiers cancelled and events to celebrate the Olympic torch arrival and relay scaled back.Despite the measures, tens of thousands of people flocked to a cauldron displaying the flame in northeastern Japan, raising fears about whether the relay can be held safely.The idea of holding the Games on schedule has drawn a swelling chorus of objections.On Sunday, nine-time Olympic track and field champion Carl Lewis, and the head of French athletics, became the latest to urge a delay.”I just think it’s really difficult for an athlete to prepare, to train, to keep their motivation if there’s complete uncertainty. That’s the hardest thing,” Lewis told Houston television station KRIV.”I think a more comfortable situation would be two years and put it in the Olympic year with the Winter Olympics [Beijing 2022] and then make it kind of a celebratory Olympic year.” ‘So irresponsible’ The head of the French athletics federation Andre Giraud also said postponement was inevitable. “Everyone agrees that the Games cannot be held on the dates planned,” Giraud said. And for some athletes, the IOC’s announcement was too little, too late.”So wait… does this mean that athletes face up to another FOUR weeks of finding ways to fit in training — whilst potentially putting ourselves, coaches, support staff and loved ones at risk just to find out they were going to be postponed anyway,” tweeted Britain’s Dina Asher-Smith, the world 200m champion.”So irresponsible,” she added. “I was really hoping to hear an announcement that they’d postponed it to 2021 this week.”Canada said it would not send its athletes to any Games held this summer, calling on the IOC and International Paralympic Committee to “postpone the Games as a part of our collective responsibility to protect our communities”.But Bach, speaking to German outlet SWR on Saturday, warned postponement was “a very complex operation.””Postponing the Olympic Games is not like moving a football game to next Saturday,” he said. “Cancellation is not an option,” Abe said, echoing comments from IOC chief Thomas Bach, who ruled out scrapping the Games, saying it “would not solve any problem and would help nobody”.The IOC has also shifted its position on the Games, issuing a statement on Sunday saying it was stepping up planning for different scenarios, including postponement.It said it would hold “detailed discussions” on the “worldwide health situation and its impact on the Olympic Games, including the scenario of postponement”.A decision should come “within the next four weeks”, the body added.”Human lives take precedence over everything, including the staging of the Games,” Bach wrote in an open letter to athletes. Topics :center_img And Australia’s Olympic committee told athletes to prepare for a Tokyo Olympics in the northern-hemisphere summer of 2021.”It’s clear the Games can’t be held in July,” Australian chef de mission Ian Chesterman said.For weeks, Japan and Olympic officials have held the line that preparations are moving ahead to hold the Games as scheduled, but there has been increasing pressure from sports federations and athletes whose training has been thrown into turmoil.On Monday, Abe told parliament that Japan was still committed to hosting a “complete” Games, but added: “If that becomes difficult, in light of considering athletes first, it may become inevitable that we make a decision to postpone.” Postponing the Olympics over the coronavirus pandemic may become “inevitable”, Japan’s prime minister conceded Monday, after the International Olympic Committee said a delay was being considered as pressure grows from athletes and sports bodies.The comments from Shinzo Abe were his first acknowledgement that the 2020 Games may not open as scheduled on July 24, as the coronavirus marches across the globe causing unprecedented chaos.Canada’s Olympic and Paralympic committees meanwhile announced they will not send teams to the Games if they are held this summer, citing the health of their athletes and the general public.last_img read more