Covid-19 may limit Saudi Arabia tourism expansion | News

first_imgGlobalData forecasts that Saudi Arabia’s international arrivals will reach 21 million by 2024. Ben Cordwell, tourism analyst at GlobalData explains that does not mean that Saudi Arabia cannot become a dominant force in the Middle East destination market.“The Red Sea Project is looking to establish Saudi Arabia as a luxury tourist destination which could attract many of the tourists that travel to Dubai each year, particularly high-spending travellers from the UK and China. – Advertisement – OlderMSC Magnifica suspends sailings until late December “Meanwhile, the capital city of Riyadh has the potential to establish itself as a premium luxury destination to rival Dubai.”Religious attractions and celebrations is already the main source of tourism in the country with millions of international visitors arriving to take part in the Hajj and Umrah. A more accessible Saudi Arabia could attract a greater number of Muslim visitors to these events each year.Cordwell continued: “Saudi Arabia is also home to historical sites dating back thousands of years, and so the country could become a hub for cultural tourism to the Middle East thereby diversifying the type of tourist that the country attracts.”Sports tourism is another area that Saudi Arabia is investing heavily in, recently hosting Anthony Joshua’s world title fight against Andy Ruiz. Hosting major sporting events provides Saudi Arabia with a major opportunity to market itself as a prime tourist destination.Cordwell concluded: “Saudi Arabia offers much that can attract a high number of international visitors each year. “The country has a number of initiatives in place to help achieve its ambitious tourist targets to 2030, but it remains to be seen how much of a limiting factor Covid-19 has on international arrivals over the coming years.”Image: KAEC NewerChile leads winners at 2020 Latin America World Travel Awards Saudi Arabia can become a regional tourism powerhouse, according to new analysis of the region. However, the country is unlikely to reach its optimistic annual visitor goals as the Covid-19 pandemic hits global travel. – Advertisement – The Middle Eastern destination is seeking to welcome 100 million guests annually by 2030, Fahd Hamidaddin, chief executive of the Saudi Tourism Authority, recently stating the country remained on track. However, this would mean a near six-fold increase in tourist arrivals over the next 11 years, from the 17 million visitors the country welcomed in 2019, argues GlobalData, a data and analytics company.An increase on this scale now appears overly ambitious, with the massive impact that the ongoing Covid-19 pandemic has had on global travel and tourism. – Advertisement – – Advertisement –last_img read more

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Bank Indonesia strikes $60b repo facility deal with US Fed as forex reserves drop

first_imgRead also: Indonesia sells Asia’s first 50-year dollar bond to fight pandemic“The Fed only works with a few emerging countries including Indonesia on such deals,” he added. “This shows a vote of confidence in Indonesia’s economic prospects.”The rupiah dropped around 15 percent against the US dollar in March, as investors pulled money out of emerging markets and fled to the safe-haven assets, triggering dollar liquidity shortages.On Tuesday, the currency appreciated 1.3 percent to Rp 16,200 per US dollar, while the yield on 10-year government bonds fell 4 basis points to 8.16 percent, the first decline in seven days, according to Bloomberg data. Bank Indonesia (BI) has reached a repurchase agreement (repo) worth US$60 billion with the United States Federal Reserve to boost dollar liquidity supply following a fall in Indonesia’s foreign exchange reserves in March amid the COVID-19 pandemic.Forex reserves dropped $9.4 billion last month to $121 billion as the central bank stepped up market intervention to stabilize the rupiah exchange rate amid heavy capital outflows, it announced on Tuesday.“This will be the second line of defense other than bilateral currency swaps in case we need dollar liquidity,” BI Governor Perry Warjiyo said in a teleconferenced meeting later on Tuesday, adding that the current forex reserves level was “adequate” for further market interventions and the central bank would use the second line of defense if necessary. BI has a $30 billion bilateral swap agreement with China, $22.7 billion with Japan, around $7 billion with Singapore and an undisclosed amount with Australia and other central banks to buffer the nation’s economy in the COVID-19 battle.Furthermore, the central bank has also sealed a $2.5 billion repo line agreement with the Bank of International Settlements and another $3 billion with the Monetary Authority of Singapore.Read also: BI to dominate ownership of ‘pandemic bonds’ as debt burden grows“Going forward, we see a higher risk of foreign reserve outflows mainly related to the COVID-19 pandemic,” Bank Mandiri chief economist Andry Asmoro wrote in a research note.The ongoing pandemic, he went on to say, caused uncertainty in the financial markets, which made investors dump Indonesian assets and delayed the inflow of foreign direct investment into the country as the global value chain has been seriously damaged.“It is also causing a global recession that weakens major commodity prices, disrupting Indonesia’s export performance,” Andry said, adding that the health crisis had heavily impacted Indonesia’s tourism.“We expect the current account deficit to widen to 2.88 percent of GDP and the financial account balance to notably decline,” he said. “If the pandemic keeps getting worse, we see the balance of payments in 2020 booking a huge deficit.”A group of economic researchers at the University of Indonesia’s Institute for Economic and Social Research (LPEM UI) said that massive capital outflows during the COVID-19 crisis had an impact on slowing money supply growth in the economy as liquidity dried up.Read also: Indonesia’s COVID-19 stimulus worth 2.5% of GDP, lower than Singapore, Malaysia“Considering banks’ liquidity is a central factor in the money circulation cycle, particularly in terms of loan creation, the threat of liquidity shortages needs to be addressed immediately,” the researchers wrote.”Looking at the trend of capital outflows, which suppressed forex liquidity during the pandemic, the rupiah will still be under pressure until the COVID-19 pandemic tapers off,” the LPEM researchers said, projecting that the rupiah would hover at around Rp 16,500 to Rp 17,500 against the greenback this year.Topics :last_img read more

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First homebuyer rush to secure $20,000 grant by June 30

first_imgBeau and partner Lucy who are first home buyers. Time is running our to secure the $20,000 first homeowners grant which will revert back to $15,000 on July 1.IT’S a race to the finish line for first home buyers looking to secure the $20,000 Queensland First Home Owners’ Grant, which has assisted more than 250 locals since July 1.The popular building grant will be cut by $5000 on June 30, reverting back to its original sum of $15,000.So far, 258 first home buyers in Townsville have successfully applied for the grant, which has helped inject close to $5.2 million into local building and construction.With 512 dwellings approved by Townsville City Council between July, 2016, and April this year, first homeowners accounted for more than half of all new builds.Statewide, there have been 4100 grants approved, totalling $82.5 million, with Townsville figures accounting for 6.3 per cent of approved applicants.With 85 dwelling approvals between July and April this year, North Shore attracted the largest number of first home buyers. North Shore project director Andrew Astorquia said the last few months had been particularly busy.“We’ve noticed a big increase in first home buyers, more than last year, who realise that going from $15,000 to $20,000 makes a huge difference when buying a home.“Most of us don’t have a spare $5000.“There’s no doubt the grant has helped more first home buyers get their foot through the door.“I think it’s also important to note that the grant not only helped keep people in Townsville but keeps our builders and tradies working.”Townsville soldier Beau Gordon and wife Lucy are among the 258 Townsville locals spurred on by the $20,000 Queensland First Home Owners’ Grant.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“This is my second posting to Townsville and we decided that we wanted to own our own home, instead of renting,” Mr Gordon said.“We wanted to have a house we could come back to and live in if I get posted to Townsville again or leave the army. “Finance definitely played a part in actually getting the house sooner rather than later and the $20,000 grant definitely helped. With the grant reverting back to $15,000, we didn’t want to risk it.”Townsville MP Scott Stewart said the grant had helped keep the region’s building and construction industry afloat.“It’s hard to know what will happen after June 30, whether there will be the same uptake but with so many jobs on the horizon for us and all the green shoots we’re going to see, there’s no doubt that it will positively affect our building and construction industry well into the future,” Mr Stewart said.With just over a month left till the June 30 deadline, Mr Astorquia said it was not too late to secure the $20,000 grant.“All you need is a signed land and building contract which can be done overnight,” he said.“Of course those contracts are subject to finance so you have to make sure they are approved by the bank.“But besides that, it’s a pretty quick process.“So even though there are only few days left, you absolutely can still get it done and get approval before June 30.”last_img read more

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World’s first successful Penis transplant in South Africa

first_imgStellenbosch University doctors perform the world’s first successful penis transplant in Cape Town, South AfricaThe world’s first penis transplant performed in South African has been declared a success.The 21-year-old patient had his  original organ amputated after undergoing a traditional circumcision which left him with life threatening health complications.The patient received a new Penis after a grueling 9 hour surgery at the Tygerberg Hospital in Cape Town on December 3rd and three three months later Doctors say the man has regained all his urinary and reproductive functions.The organ he received was from a deceased donor, however Doctors had a difficult time trying to  get a perfect  donor, only once they fashioned a penis for the donor did they get approvals.Doctors at the Stellenbosch University say the man, whose identity has not been disclosed, has made a full recovery since the operation on December 11 and had regained all his urinary and reproductive functions.Circumcisions are performed on boys and young men as a rite of passage to adulthood in some rural parts of South Africa ans most parts of Africa.Experts estimate that there could be as many as 250 penis amputations a year in South Africa because of botched circumcisions.The university said it was planning for nine more patients to receive penis transplants.In 2006, a Chinese man had a penis transplant but his doctors removed the organ after two weeks due to “a severe psychological problem of the recipient and his wife”.last_img read more

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Virgil M. Haskamp, 85

first_imgVirgil M. Haskamp, 85, Greensburg, passed away on Wednesday, December 21, 2016 at the Decatur County Memorial Hospital in Greensburg.Born, July 6, 1931 in Franklin County, Indiana, he was the son of Edward H. and Louise C. (Meyer) Haskamp.Virgil graduated in 1949 from Batesville High School and then served in the Army during the Korean War.  When he returned from the service, he farmed and ran a trucking business for many years.He was a member of the St. Catherine of Siena Catholic Church in Enochsburg, the Knights of Columbus in Greensburg, and a former member of the Knights of St. John in Hamburg.He was married to Bertha Daeger on September 5, 1964 and she survives.He is also survived by two sons, Edward (Jan) Haskamp, Greensburg, Doug (Barb) Haskamp, Greensburg; two daughters, Theresa (George) Dury, Indianapolis, Karen (Tom) Poplawski, La Porte; ten grandchildren and 1 step grandchild.He was preceded in death by his parents, two brothers, Louis Haskamp, Bernard “Benny” Haskamp; two sisters, Ruth Wolter, Luella Nobbe.Family and friends will gather at 3:30 p.m. on Tuesday at the funeral home to pray the rosary.  Visitation will follow the rosary until 8:00 p.m. at the Porter-Oliger-Pearson Funeral Home in Greensburg.Funeral Services will be held at 10:00 a.m. on Wednesday, December 28, 2016 at the St. Catherine of Siena Catholic Church in Enochsburg with Rev. Bill Ehalt officiating.Interment with military graveside rites will be held in the St. Anne’s Catholic Cemetery in Hamburg.Memorials may be made to the St. Anne’s Cemetery Fund or the St. Catherine of Siena Catholic Church.Online condolences can be made to the family at www.popfuneralhome.comlast_img read more

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Sebastian Alexander Amos

first_imgSebastian Alexander Amos was stillborn Wednesday, June 21, 2017 at the Columbus Regional Hospital, Columbus, Indiana ……….. and to think the first thing he saw when his little eyes opened was the face of Jesus! His parents were Jerad Reed Amos and Brittany Lee Downey of Holton, Indiana. Also surviving is a brother, Jayden and a sister Kelly Amos of Holton. Surviving grandparents are Allen and Christina Downey of Versailles, Indiana; Phil and Jackie Amos of Holton;  maternal grandmother, Ena and Roy Barret also of Holton.Graveside services will be held at 10:00 am Saturday, June 24, 2017 at Holton West Cemetery. Any memorial donations may go to the family c/o of the funeral home. Neal’s Funeral Home entrusted with the arrangements.www.nealsfuneralhome.netlast_img

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Napoli set to unveil Osimhen on Friday

first_img Osimhen has already passed his medical, taken in Rome’s Villa Stuart clinic on Saturday morning, and it’s suggested he has even signed the contract. His agent is now finalising the details and AOIFootball.com  stated that  Osimhen will be presented to the media on Friday. read also:Look before you leap, Eagles coordinator advises Osimhen With a reported price-tag of €81m, that would make the 21-year-old the most expensive African player of all time, as well as practically doubling the club record for highest transfer fee. FacebookTwitterWhatsAppEmail分享 Plans are almost concluded by the Italian giants, Napoli to unveil Nigeria’s Super Eagles striker, Victor Osimhen,  on Friday. Multiple reports, including Sky Sport Italia, Sportitalia and Osimhen’s close associate Oma Akatugba, are confident would be presented as a Napoli player on Friday. The agreement with Lille had already been reached, there were some issues regarding image rights and commissions that had to be resolved following the change of agent midway through the process. After days of intensive negotiations in Naples and then today in Lille, multiple sources are confident they are down to details.Advertisement Loading…last_img read more

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Kennedale kicks off new race season with March 1-2 special

first_imgKENNEDALE, Texas (Feb. 25) – Four IMCA divisions are on the program for Kennedale Speedway Park’s season-opening Spring Kick-Off special this Saturday and Sunday, March 1-2.IMCA Eagle Motorsports RaceSaver Sprint Cars run for $800 to win on Saturday.Texas Lone Star Series shows are slated both nights for IMCA Xtreme Motor Sports Modifieds, IMCA Sunoco Stock Cars and Scoggin-Dickey Parts Center Southern SportMods.Stock Cars run as part of Wild Child Race Cars and Southern SportMods as part of Southwest Racing Specialties-sponsored series shows.Modifieds race for $600 to win, Stocks and SportMods both for $500 to win. IMCA Speedway Motors Weekly Racing national, regional and Allstar Performance state points will be awarded.An open practice begins at 6 p.m. Friday, Feb. 28. Pit gates open at 3 p.m. and racing starts at 6 p.m. Saturday; gates open at noon and racing starts at 2 p.m. on Sunday. There is no entry fee and pit passes are $25. Grandstand admission is $12 for adults, $8 for seniors and military personnel with ID, $5 for kids ages 6-11 and free for five and under. RACEceivers or NitroBees are required in all divisions. More infor­mation about the Spring Kick-Off is available by call­ing 817 561-9634 and at the www.raceksp.com website. Series races are the fourth and fifth of 2014 for the Modifieds, Stock Cars and Southern SportMods.last_img read more

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Committee seeks feedback on changes to Child Support Guidelines

first_imgIndianapolis, In. — The Domestic Relations Committee of the Judicial Conference of Indiana is seeking comments on proposed changes to Indiana’s Child Support Guidelines, which are used to make decisions about child support in dissolutions of marriage, legal separations, paternity cases, Title IV-D proceedings, and all other actions for child support.The proposed changes address:A parent’s legal duty to support a prior-born child when no court order existsConsideration of whether a child support amount prohibits a parent’s ability to support himself or herselfIn-kind benefits and payments from structured settlements as incomeSituations in which a parent is incarceratedClarification of children’s health insurance costsFeedback will be accepted until noon EDT, Friday, May 17, 2019. Comments may be submitted online or sent by mail to the Indiana Office of Court Services, c/o Domestic Relations Committee, 251 North Illinois Street, Suite 800, Indianapolis, IN 46204.The Domestic Relations Committee is composed of judicial officers from across Indiana and receives staff support from the Indiana Office of Court Services. The Committee will review public comments to assist in recommending amendments of the Child Support Guidelines to the Indiana Supreme Court. The Court has the final authority over the Guidelines.last_img read more

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Mr. Henry Fredrick Bushman

first_imgMr. Henry Fredrick Bushman, age 92, of Bear Branch, Indiana, entered this life on April 20, 1928 in Ohio County, Indiana. He was the loving son of the late Louis Henry and Marie “Emma” (Poske) Bushman. He was raised in Bear Branch, Indiana where he was a 1945 graduate of Dillsboro High School. Henry was united in marriage to Maxine Knigga on February 3, 1951 at the St. Peter Lutheran Church in Bear Branch, Indiana. This happy union was blessed with three children, Dennis, LuAnne and Lee Jaye. Henry and Maxine shared over 69 loving years of marriage together until his death. Henry was employed for Stedman Foundry in Aurora, Indiana for a few years. He was also employed as a control specialist for the Texas Gas Company, retiring after 30 years of service. He was a member of the St. Peter Lutheran Church in Bear Branch, Indiana where he formerly served on the church council. Henry enjoyed music, computers and working on his ancestry. Henry passed away at 3:30 p.m., Sunday, August 2, 2020, at The Waters of Rising Sun in Rising Sun, Indiana.Henry will be deeply missed by his wife, Maxine (Knigga) Bushman of Bear Branch, IN; his daughters, LuAnne Turner and her husband, Terry of Dillsboro, IN and Lee Jaye Lohide and her husband, Mark of East Enterprise, IN; his daughter-in-law, Sharon Day and her husband, Jim of East Enterprise, IN; his grandchildren, Mike Bushman and his wife, Nicole, Jamie Bushman and his wife, Rhonda, Billy Settles and his wife, Whitney, Bryan Turner and his wife, Stacey, Erin Turner Gregory, Jennifer Parsons and her husband, Jamie, Matthew Lohide and Megan Griffin and her husband, Shane; his great-grandchildren, Damon, Olivia, Peyton, Jillian, Emma, Brody, Maddy, Kameron, Harper Grant and Henlee; his step-great-grandchildren, Ashley, Tyler, Jackson, Julia and Brody; his step-great-great-grandson, Braxton; his brother-in-law, William Knigga; his three nieces, Deborah Todd, Dena Steiner and Dianne Hoffman and his great-nieces and great-nephews.He was preceded in death by his parents, Louis Henry Bushman, died July 9, 1949 and Marie “Emma” (Poske) Bushman, died February 9, 1979; his son, Dennis Duane Bushman, died November 10, 1977 and his sister-in-law Dorothy Knigga.Due to COVID-19, masks are required along with social distancing. Friends may call 5:00 p.m. – 8:00 p.m., Thursday, August 6, 2020, at the Haskell & Morrison Funeral Home, 208 Ferry Street, Vevay, Indiana 47043 and from 10:00 a.m. – 11:00 a.m., Friday, August 7, 2020, at the St. Peter Lutheran Church, 3958 Milton Bear Branch Road, Dillsboro, Indiana 47018.Due to COVID-19, masks are required along with social distancing. Funeral services will be conducted Friday, August 7, 2020, at 11:00 a.m., by Pastor Larry Knigga, at the St. Peter Lutheran Church, 3958 Milton Bear Branch Road, Dillsboro, Indiana 47018.Interment will follow in the St. Peter Lutheran Cemetery, Dillsboro, Indiana.Memorial contributions may be made to the St. Peter Lutheran Church Cemetery Fund or Charity of the Donor’s Choice. Cards are available at the funeral home or online at www.haskellandmorrison.comlast_img read more

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