Space Travel News  
TRADE WARS
Bali batik: IMF meets in Indonesia
by Staff Writers
Nusa Dua, Indonesia (AFP) Oct 11, 2018

The world's financial elite are gathering in the Indonesian holiday island Bali for talks with trade spats and emerging markets crises topping the agenda.

Here are some facts and figures about the high-level gathering:

- Quakes, tsunamis, volcanoes -

Disaster-prone Indonesia is no stranger to earthquakes and volcanic eruptions as the sprawling archipelago sits along the Pacific "Ring of Fire", the world's most seismically active region.

Some 32,000 delegates at this week's meeting got a taste of that volatility early Thursday morning when a shallow quake off the coast of Bali and Java island killed at least three people and triggered panic.

Thousands of people staying in hotels near the meetings were jolted awake by the strong shake that sent many running outside.

It came after the city of Palu, more than 1,000 kilometres (620 miles) from Bali, was flattened last month in a quake-tsunami disaster that has killed more than 2,000 people.

Bali's neighbouring Lombok island was also hammered by a series of quakes this summer that killed over 500, while the island's Mt Agung erupted earlier in the year -- leading to thousands of cancelled flights and even more grumbling tourists.

Indonesian organisers have advised participants to stay in the IMF conference centre in case of a quake because it's built to withstand such tremors.

In case of a tsunami warning, attendees would be evacuated to a nearby building.

- Global gabfest -

Finance ministers and central bankers from 180 nations are among the attendees in Bali for the annual meetings of the US-based International Monetary Fund and World Bank, held every three years outside of Washington. Talks run from Tuesday through Sunday.

Local hotels are packed and taxis can be hard to come by as attendees speed by Bali's world-famous beaches to spend a few days in air-conditioned venues in Nusa Dua, home to a string of luxury hotels -- and a safe distance from the island's booze-fuelled tourist party spot Kuta.

- Tight security -

Thousands of security staff have fanned out across key venues, and are confiscating certain items as attendees pass through metal detectors, including cigarette lighters in a country with one of the world's highest smoking rates.

At least one coconut-brandishing participant got his fruit through the scanners unharmed, however. The machine was later taken out of service for unexplained reasons.

Muslim-majority Indonesia, a huge nation of 260 million people, has been on high alert after suicide bombings this year in its second-biggest city Surabaya underlined its long battle with Islamist militancy.

About 15 minutes' drive from the meeting venues stands a monument to more than 200 people -- mostly tourists -- who were killed in the 2002 Bali bombing terror attack.

The majority of Bali's residents practice Hinduism while Christians also make up a sizeable minority group.

- Business batik -

Organisers have advised against heavy suits in the sweltering tropical heat and many participants, including foreign delegates, are donning batik shirts -- a local staple for business or pleasure.

Batik uses a dyeing process that results in a dizzying array of intricate patterns in all colours of the rainbow.

Shirts can cost upwards of several hundred US dollars for top-quality fabric and original designs.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
US worried about China currency depreciation: official
Washington (AFP) Oct 8, 2018
The United States remains concerned about the weakening of China's currency and the trade imbalances but Treasury Secretary Steven Mnuchin has no meetings scheduled with negotiators from Beijing this week, US officials said Monday. President Donald Trump has repeatedly accused China of manipulating its currency - the yuan or renminbi (RMB) - allowing it to weaken to gain the upper hand the trade dispute with Washington. "We continue to closely monitor developments in the RMB. We remain concern ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
TRADE WARS
Curiosity rover operating on backup computer during repairs to main processor

Curiosity Rover to Temporarily Switch 'Brains'

Opportunity Remains Silent For Over Three Months

Software finds the best way to stick a Mars landing

TRADE WARS
Bezos' Blue Origin signs on to ship supplies to Moon by 2023

Lockheed Martin Reveals New Human Lunar Lander Concept

NASA, Israel Space Agency Sign Agreement for Commercial Lunar Cooperation

China planning probes, manned missions, ultimately a base on moon - Space Chief

TRADE WARS
New Horizons sets up for New Year's flyby of Ultima Thule

While seeking Planet X, astronomers find a distant solar system object

Extremely distant Solar System object found

New Horizons Team Rehearses For New Year's Flyby

TRADE WARS
'Spacesuits' protect microbes destined to live in space

Liquid crystals and the origin of life

Astronomers find first evidence of possible moon outside our Solar System

New tool helps scientists better target the search for alien life

TRADE WARS
First SpaceX mission with astronauts set for June 2019: NASA

SpaceX uses dumping to drive Russia out of space launch market claims Roscosmos

SLS chief engineer driven by 'challenge' of building rocket

Nucleus completes successful first launch

TRADE WARS
China launches Centispace-1-s1 satellite

China tests propulsion system of space station's lab capsules

China unveils Chang'e-4 rover to explore Moon's far side

China's SatCom launch marketing not limited to business interest

TRADE WARS
MASCOT lands safely on Asteroid Ryugu

Shooting stars create their own aurora

Hayabusa-2 drops another lander on the surface of Ryugu

Touchdown! Japan space probe lands new robot on asteroid









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.