Indonesia police say 129 people killed after stampede at football match - CNA

JAKARTA: At least 129 people were killed and around 180 injured at a football match in Indonesia after a crowd stampede during a riot, police said on Sunday (Oct 2), in what appears to be one of the world's worst stadium disasters.

The stadium had been been filled beyond capacity, said Indonesia's chief security minister Mahfud MD. In an Instagram post, he said 42,000 tickets had been issued for a stadium that was meant to hold 38,000 people. 

After the match in East Java province between Arema FC and Persebaya Surabaya ended on Saturday night, supporters from the losing team invaded the pitch and police had fired tear gas, triggering a stampede and cases of suffocation, East Java police chief Nico Afinta told reporters.

"It had gotten anarchic. They started attacking officers, they damaged cars," Nico said, adding that the crush occurred when fans fled for an exit gate.

Two police officers were among the day, the police chief said, adding that 34 people died inside the stadium and the rest died in hospital.

Video footage from local news channels showed people rushing onto the pitch in the stadium in Malang and images of body bags.

World football's governing body FIFA specifies in its safety regulations that no firearms or "crowd control gas" should be carried or used by stewards or police.

East Java police did not immediately respond to a request for comment on whether they were aware of such regulations.

Indonesia's human rights commission planned to investigate security at the ground, including the use of tear gas, its commissioner told Reuters.

There have been previous outbreaks of trouble at matches in Indonesia, with a strong rivalry between clubs sometimes leading to violence among supporters.

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMibGh0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vc3BvcnQvaW5kb25lc2lhLWZvb3RiYWxsLW1hdGNoLXJpb3Qtc3RhbXBlZGUtZGVhdGhzLXN0YWRpdW0tZGlzYXN0ZXItMjk4MDI3NtIBAA?oc=5

2022-10-02 02:26:15Z
CBMibGh0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vc3BvcnQvaW5kb25lc2lhLWZvb3RiYWxsLW1hdGNoLXJpb3Qtc3RhbXBlZGUtZGVhdGhzLXN0YWRpdW0tZGlzYXN0ZXItMjk4MDI3NtIBAA

To tackle a kimchi crisis, South Korea banks on massive cabbage warehouses - CNA

A climate shift in recent years that has brought higher temperatures and heavier rain has damaged cabbage crops, curtailing supply. This year, prices of cabbages doubled in less than three months, part of a broad spike in inflation to 24-year highs hit in July.

"We used to purchase cabbages in June then store them for use later when cabbage prices climb, but this year we are already out of stock," said Ahn Ik-jin, chief executive of kimchi maker Cheongone Organic.

"We used to produce 15 tonnes of kimchi a day but now we are only producing 10 tonnes or less," he said. His company has had to raise its kimchi price by two-thirds to 5,000 won (US$3.5) per kilogram.

South Korea's kimchi industry has been on a slippery slope for quite some time.

Chinese imports, often priced at about a third of locally made kimchi, have surged over the past two decades to account for 40 per cent of the domestic market for commercially made kimchi.

Add in weak cabbage harvests over recent years and much of the industry has just crumbled. (While kimchi can be made from other ingredients, about three-quarters of commercially made kimchi is cabbage-based.)

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMiamh0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vYXNpYS9zb3V0aC1rb3JlYS1raW1jaGktY3Jpc2lzLWNhYmJhZ2Utc2hvcnRhZ2Utc3RvcmFnZS1mYWNpbGl0aWVzLTI5NzU4MTbSAQA?oc=5

2022-09-30 02:49:00Z
CBMiamh0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vYXNpYS9zb3V0aC1rb3JlYS1raW1jaGktY3Jpc2lzLWNhYmJhZ2Utc2hvcnRhZ2Utc3RvcmFnZS1mYWNpbGl0aWVzLTI5NzU4MTbSAQA

Singapore, US to explore viability of 'green lanes' to advance sustainable aviation - CNA

SUSTAINABLE FUTURE FOR INTERNATIONAL AVIATION

During the assembly, Mr Iswaran also highlighted Singapore’s firm commitment to support ICAO in its efforts to build a resilient, inclusive, and sustainable future for international aviation, MOT said in a separate news release.

“Singapore continues to stand ready to work with all stakeholders to contribute to these efforts for the benefit of all States,” added MOT.

Together with Senior Minister of State for Transport Dr Amy Khor, who also attended the assembly, Mr Iswaran met with Mr Salvatore Sciacchitano, president of the ICAO council and Mr Juan Carlos Salazar, who is ICAO's secretary-general.

Mr Iswaran and Dr Khor reaffirmed Singapore’s strong support for the ICAO’s work and leadership, including in areas of aviation recovery, sustainability, and training, said MOT.

In his statement during the ICAO assembly, the Transport Minister said climate change is an "existential challenge” for all states.

“The global aviation community must adopt sustainability as an urgent long-term priority and act decisively to reduce the sector’s emissions,” Mr Iswaran said.

“Under the leadership of ICAO, the sector has taken important steps in this regard and we must continue working together to sustain the momentum in decarbonising air travel.”

Wrapping up his statement, Mr Iswaran noted that other challenges continue to lie ahead even as countries emerge from the COVID-19 pandemic.

“To prevail, we will need to address the critical areas of capacity, talent, technology, and sustainability, while strengthening the aviation system’s fundamentals,” he added.

On Wednesday, Singapore also signed a Memorandum of Understanding with the United Kingdom to update the Open Skies Agreement between the two countries and work together to promote the sustainable development of aviation.

The agreement allows air carriers to operate any number of flights between and beyond both signatory states.

In the joint media release on Thursday, MOT and CAAS said the agreement with the US is “another step forward” in Singapore’s sustainability aviation journey.

Other efforts include a one-year pilot - starting February 2022 - on the use of sustainable aviation fuel at Changi Airport.

An agreement on sustainable aviation with New Zealand was also signed in April.

Last week, the International Advisory Panel submitted a report on sustainable air hub detailing 15 key initiatives to tackle decarbonisation across the airport, airline and air traffic management domains.

“MOT and CAAS will study the recommendations and incorporate them into the development of the sustainable air hub blueprint,” said the authorities, adding that CAAS will publish the blueprint next year to provide a decarbonisation roadmap for Singapore.

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMieWh0dHBzOi8vd3d3LmNoYW5uZWxuZXdzYXNpYS5jb20vc2luZ2Fwb3JlL3NpbmdhcG9yZS11bml0ZWQtc3RhdGVzLWdyZWVuLWxhbmVzLXN1c3RhaW5hYmxlLWF2aWF0aW9uLWZ1ZWwtcy1pc3dhcmFuLTI5NzM3MzbSAQA?oc=5

2022-09-29 10:27:10Z
1579132337

BOE Ignites Global Rally in Everything From Stocks to Bonds - Bloomberg

[unable to retrieve full-text content]

1. BOE Ignites Global Rally in Everything From Stocks to Bonds  Bloomberg
2. S&P 500 Has Slipped to a Multi-Year Low, But It Doesn’t Register as a Full ‘Break’  DailyFX
3. Stocks Rally On September 28, 2022, As Rates Plunge  Monster Stock Market Commentary
4. S&P 500 Roars Back From Six-Day Slide; Bonds Surge: Markets Wrap  Bloomberg
5. View Full coverage on Google News

https://news.google.com/__i/rss/rd/articles/CBMicGh0dHBzOi8vd3d3LmJsb29tYmVyZy5jb20vbmV3cy9hcnRpY2xlcy8yMDIyLTA5LTI4L3dhbGwtc3RyZWV0LWluLWJlc3QtcmFsbHktc2luY2UtMjAyMC1hcy1ib2Utc2hvY2tzLWV2ZXJ5dGhpbmfSAQA?oc=5

2022-09-29 03:19:00Z
1578068912

Bank of England intervenes in bond market to halt crash - CNA

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMiK2h0dHBzOi8vd3d3LnlvdXR1YmUuY29tL3dhdGNoP3Y9MGxnU2ZGU2diX1XSAQA?oc=5

2022-09-28 13:41:23Z
1579070390

Explainer: What caused the pound's slump and will British travel, imports stay cheaper for S'poreans? - TODAY

SINGAPORE — The British pound sank to an all-time low of US$1.0327 on Monday (Sept 27), prompting jokes amongst some Singaporeans on social media that this might be a good time to import high-end goods from the United Kingdom.

The sterling has slumped 5 per cent since Thursday and 21 per cent this year against a backdrop of an ever stronger US dollar. It has since bounced back to US$1.0683 at the start of the trading day on Tuesday.

The last time the value of the pound was anywhere near US$1.05 was in February 1985.

So how did the British pound, which was trading close to S$2 against the Singapore dollar just over a year ago, fall so steeply to around S$1.50 on Monday?

TODAY takes a closer look.

WHAT LED TO THE POUND’S POUNDING?

In short, economists told TODAY that it is mainly a result of the market reacting to the new fiscal policies implemented under recently-installed Prime Minister Liz Truss.

Investors began dumping the pound last Friday after Chancellor of the Exchequer Kwasi Kwarteng, the UK's chief finance minister, set out plans to slash taxes and big energy subsidies, among other things, in a bid to kickstart the ailing British economy. The government plans to fund this by borrowing money.

Mr Kwarteng then pledged over the weekend to cut taxes further in the new year, which only served to heighten fears of inflation rising again given that Britons will have more money to spend.

CIMB Private Bank economist Song Seng Wun described this move as a “populist” one since it would, in theory, mean that British citizens would pay less taxes, have lower utility bills, and ultimately, more money in their pocket.

“It sounds sensible, if you have the funds to be able to support that spending and the loss in government revenue,” he said.

But because the British government lacks the funds to do so, Ms Selena Ling, head of treasury and research at OCBC bank, said the plan would require substantial funding through increases gilt issuance, a form of borrowing.

Gilts are used by the UK government to raise money, usually to cover shortfall between public spending and income from taxes.

British daily The Guardian, quoting analysts on Friday, reported that investors were “no longer willing to fund the UK’s external deficit position at the current configuration”, which consequently led to the sell-off.

WHAT DOES IT MEAN FOR SINGAPORE?

OCBC’s Ms Ling said that for Singapore, businesses which import goods and services from the UK may benefit from the cheaper pound.

“Ditto for Singaporeans who are travelling to the UK, buying property, or sending their children to study there,” she added.

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMiWGh0dHBzOi8vd3d3LnRvZGF5b25saW5lLmNvbS9zaW5nYXBvcmUvZXhwbGFpbmVyLXBvdW5kLXNsdW1wLWNoZWFwLXRyYXZlbC1pbXBvcnRzLTIwMDQzMjbSAQA?oc=5

2022-09-27 12:42:00Z
1578005664

Tycoon Li Ka-shing loses $2.2 billion in a day as pound slide bites - The Straits Times

HONG KONG - Hong Kong magnate Li Ka-shing lost US$1.5 billion (S$2.2 billion) in a day, with the value of his sprawling business empire tumbling along with the historic decline in the pound.

CK Hutchison Holdings, the flagship conglomerate of Mr Li's group that earned 16 per cent of its revenue from Britain in the first half, saw its shares slump 5.8 per cent on Monday to the lowest since it restructured in 2015. Sister company CK Asset Holdings, a real estate developer that earned almost a third of its revenue from Britain, plunged 8.6 per cent. Both recovered some ground on Tuesday, rising about 3 per cent.

The share slump came amid a global rout as the pound fell to a record low. The US$1.5 billion hit to Mr Li's personal fortune was the fifth-biggest decline among the world's 500 richest people, according to the Bloomberg Billionaires Index. The 94-year-old is still worth about US$26.7 billion, keeping him high in the ranks of Asia's wealthiest people, with his stake in CK Asset accounting for most of his net worth.

After decades of diversification, Mr Li's businesses now span property, telecommunications, ports, retail and utilities, with Europe, Hong Kong and mainland China contributing the bulk of revenue. The CK group's operations in Britain include mobile carrier Three UK, health and beauty chain Savers, the Harwich International port, and utilities firms including Northumbrian Water and Wales & West Gas Networks.

It is one of the few Hong Kong groups with extensive overseas exposure, a strategy that has typically helped it weather risks ranging from protests in Hong Kong in 2019 to the ups and downs of the Covid-19 pandemic.

But currency fluctuations have always been a challenge, with the company reporting results in Hong Kong dollars, which are pegged to the strengthening greenback.

That portends a big hit for the company. CK Hutchison has likely seen HK$15.7 billion (S$2.9 billion), or 11.5 per cent, of the net value of British assets wiped out since June 30 due to the pound's slump, according to Bloomberg News calculations. BLOOMBERG

Adblock test (Why?)

https://news.google.com/__i/rss/rd/articles/CBMibWh0dHBzOi8vd3d3LnN0cmFpdHN0aW1lcy5jb20vYnVzaW5lc3MvY29tcGFuaWVzLW1hcmtldHMvdHljb29uLWxpLWthLXNoaW5ncy11ay1iZXRzLXNvdXItYXMtcG91bmQtc2xpZGUtYml0ZXPSAQA?oc=5

2022-09-27 08:57:26Z
CBMibWh0dHBzOi8vd3d3LnN0cmFpdHN0aW1lcy5jb20vYnVzaW5lc3MvY29tcGFuaWVzLW1hcmtldHMvdHljb29uLWxpLWthLXNoaW5ncy11ay1iZXRzLXNvdXItYXMtcG91bmQtc2xpZGUtYml0ZXPSAQA