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Wharf threatened by bank tenant fallout

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Your starter for £10

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Inside the big deal

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House of Fraser spots gap in City retailing

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Metal fatigue

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British Land fails in rent review fight

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Tin miner Timah to invest Rp 2 trillion this year for expansion

first_imgState-owned tin miner PT Timah is slated to invest around Rp 2 trillion (US$145.6 million) to finance expansion projects this year, including the construction of a tin smelting plant.Timah corporate secretary Abdullah Umar Baswedan said in Jakarta on Monday that  the funds would be partly used to finance the exploration of new tin reserves on the tin-rich Bangka Belitung Island.Investment would also go into developing an US$80 million smelter in the province, repairing old ships, growing company subsidiaries and continuing exploration efforts in Africa, he added. Topics : The publicly listed miner has yet to publish its annual report for the 2019 financial year but Abdullah estimated that production reached between 65,000 and 70,000 tons last year.  This year, production is projected to increase 5 percent. But revenue during the year would rely much on global tin prices, which have begun to decline since January due to the coronavirus epidemic in China, the world’s largest tin consumer.“We cannot control global prices. But we can control and maintain our export volume,” said Abdullah, adding that Indonesia contributed 23 percent of the global tin market, “If we exclude China, it’s more than 40 percent.”Timah president director Mochtar Riza Pahlevi Tabrani, also on Monday, said the company was looking into exploring mineral reserves in Nigeria and Tanzania. The company was particularly close to beginning operations in the former, where it only needs “a sort of environmental impact assessment” to begin.“The biggest challenge in Africa is limited infrastructure,” he said, “The second issue is security.”last_img read more

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Iranian lawmaker dies of novel coronavirus

first_imgAn Iranian lawmaker died from the novel coronavirus on Saturday, state news agency IRNA reported, one of several officials to succumb to the illness in the epidemic-hit country.Fatemeh Rahbar, 55, was a conservative MP and had recently been elected to the parliament from the capital Tehran, the agency said.She is the second lawmaker killed by the virus in Iran and one of seven politicians and government officials who have died in the outbreak since the country reported its first cases in mid-February. Iran has been scrambling to contain the rapid spread of the virus, which so far has infected 4,747 people and killed at least 124.Rahbar was among the top candidates in Tehran for the conservatives, who overwhelmingly won February’s general election marked by the lowest turnout in the Islamic republic’s history.Iran has closed schools and universities, suspended major cultural and sporting events and reduced working hours across the country to slow the contagion, which has spread to all of its 31 provinces.Topics :last_img read more

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[UPDATED] COVID-19 patient, a doctor who traveled to Italy, dies in Medan

first_imgMeanwhile, in Malang, East Java, the administration reported that two patients under COVID-19 surveillance had died. However, the director of Malang Saiful Anwar Public Hospital, Kohar Hari Santoso, said the tests done on them for the coronavirus had come back negative.”It’s true they had lung problems but the cause of their death was not the coronavirus but another type of virus,” Kohar told reporters after meeting East Java Governor Khofifah Indar Parawansa in Surabaya on Tuesday.Kohar, however, said the two patients had met with foreigners several days before being admitted to the hospital.Asip A. Hasani contributed to this story from Surabaya, East JavaEditor’s note: The status of the patient has been updated from suspect to confirmed.  Topics : Alwi said the patient was a medical doctor. “He just got back from Jerusalem and visited Italy afterwards. He went with a group of people and we’re tracing them,” Alwi said on Wednesday. Adam Malik hospital confirmed later that he was tested positive and among 19 people who died of COVID-19 nationwide.As of Tuesday, the hospital had eight patients under COVID-19 surveillance in isolation rooms, including the doctor who just died.The hospital’s coordinator for COVID-19, Ade Rahmaini, said the isolation rooms in the hospital were already full. She said the hospital would refer new patients to other hospitals.Earlier, the North Sumatra administration reported it was tracking about 350 residents of the province who attended a mass religious gathering in Kuala Lumpur, Malaysia, where dozens of people from several countries had contracted the COVID-19 coronavirus. A medical doctor who had been under surveillance and tested positive for COVID-19 at Adam Malik General Hospital in Medan, North Sumatra died on Tuesday night.Authorities reported the doctor had traveled to Jerusalem and Italy before his death but they did not divulge the timeline of his travel history. His death was the first related to COVID-19 in North Sumatra.The head of the North Sumatra Health Agency, Alwi Mujahi Hasibuan, said the patient died at 8:45 p.m. in the hospital. He said the patient had gone to Jerusalem and Italy with several people.last_img read more

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Bulog asks for additional Rp 10 trillion to buy rice

first_imgThe price of medium quality rice is averaging Rp 10,202 per kilogram, about 8 percent higher than the retail price ceiling (HET). The price of unhusked rice is Rp 4,977 per kilogram, 17 percent higher than the government’s reference price (HPP).“We hope the government will give a stimulus for additional funds to buy husked and unhusked rice,” Tri said in an online discussion on Wednesday. “With the government’s permission, we will propose it at the limited coordination meeting so that Bulog can get the opportunity to buy as much as it can above the HPP.”The government has asked the agency to raise stocks of basic commodities to control the rising staple food prices, including rice, to anticipate both surging demand during Ramadan and Idul Fitri and logistical disruptions due to large-scale social restrictions (PSBB).Between March and May, the Agriculture Ministry estimates the demand for rice will total 7.6 million tons. The rice harvest reaches its peak in April, and production is expected to exceed demand by 8.3 million tons by the end of May. The State Logistics Agency (Bulog), a governmental body responsible for securing the staple food supply, plans to ask for an additional Rp 10 trillion (US$637 million) from the government to buy rice from farmers to augment rice stocks.The agency’s director of operations and public service, Tri Wahyudi Saleh, said in Jakarta on Wednesday that the extra funds would be enough to procure about 1.2 million tons of rice from the farmers.Tri said that the increase in prices of milled rice and unhusked rice would make rice procurement more costly. With the high price, the procurement would be too costly if the agency had to borrow from banks, he added. However, consumption tends to rise by 3 percent in the period leading up to Ramadan, set to take place on April 23, and by 20 percent leading up to Idul Fitri on May 24, according to a survey by the Agriculture Ministry’s Food Security Agency. Bulog’s sales usually rise by 10 percent over the period.The introduction of large-scale social restrictions in Greater Jakarta, considered the nation’s COVID-19 epicenter, may pose a challenge to the government’s plan.“We have prepared a banner for Bulog logistics [shipments] saying that the goods inside belong to the agency,” said Tri. “This was very helpful when we distributed sugar and rice from Lampung to Jakarta. We were prioritized by the ASDP [state-owned ferry operator] and we were escorted by the local police traffic unit.”The Jakarta and West Java administrations have suspended public activities and have imposed limitations on transportation for 14 days until late April to slow the spread of coronavirus.As of Tuesday, Jakarta, which accounts for about 20 percent of the national rice market, had confirmed 2,335 cases of COVID-19 – nearly half of the total confirmed cases nationwide.Not all staple food supplies are distributed by Bulog. As private retailers also take part in the distribution of staple food, they should maintain product quality despite logistical disruption due to the government’s measures to contain the fast-spreading coronavirus, said Center for Indonesian Policy Studies researcher Galuh Octania.“Even before the introduction of large-scale social restrictions, some distributors complained about delays,” Galuh said in the same online talk on Wednesday. “The shipment of food commodities usually takes a day, but it was delayed by up to three days for various reasons, such as drivers’ reluctance to work or fear of getting stopped [by authorities].”Topics :last_img read more