VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Tourism and Creative Economy Minister Sandiaga Uno has outlined three policies for handling the impact of the rise in fuel oil prices, which could potentially trigger a price increase in the tourism and creative economy industry.

The first involves the provision of guidance to tourism and creative economy players at the micro and small scale so that they can better manage their operational financing, he informed during “The Weekly Brief with Sandi Uno,” which was streamed online on Monday.

"Secondly, encouraging special interest tourism that can potentially reduce fuel oil consumption, both directly and indirectly. This includes sports tourism, which encompasses running, marathons, trial runs, and others," he said.

The last policy concerns the energy transition to new and renewable energy sources within the tourism and creative economy industry.

This can help reduce the consumption of fossil fuels, whose price is currently rising, and transition to solar energy, electric energy, and new energy sources that are frequently found in tourism destinations.

"Hopefully, this can help the tourism sector, especially the domestic tourism and creative economy sector, in handling the rise in fuel oil prices," the minister remarked.

The tourism and creative economy industry is closely related to human mobility, which is also tied to energy consumption.

The rise in fuel oil prices by up to 30 percent could lead to a potential price hike in the tourism and creative economy industry.

However, in the past few months, there has been a sense of optimism within the tourism sector since the number of tourist visits has increased, especially among middle- to upper-class citizens.

Tourism serves as a form of relaxation for visitors, but it cannot bleed them dry due to high prices, Uno said.

Therefore, the ministry has provided an evaluation, which shows significant impacts from the rise in fuel oil prices on the sector.

Star hotels, where middle- to upper-class citizens prefer to stay, also bear the risk of being affected by the price hike, but the potential is lower compared to other hotels.

Non-star hotels and other accommodations are expected to see their occupancy decline by 5 percent. According to Statistics Indonesia's (BPS') records, these accommodations have an average occupancy rate of 40 percent, while star hotels have a higher rate.

"Non-star hotel accommodations have become our consideration since these are what the people generally use," he informed.

Moreover, the rise in fuel oil prices may pressure tourists to spend 10 percent more of their allowance while traveling, he highlighted. (Antaranews)

 Lithuania's new representative office in Taiwan has already effectively begun operations though its physical location is still being fitted out, a senior Taiwanese diplomat said on Tuesday.

China, which claims Taiwan as its own territory, has downgraded diplomatic ties with Lithuania and pressured multinationals to sever links with the Baltic nation of 2.8 million people after it allowed Taiwan to open a de facto embassy in Vilnius.

Remus Chen, head of Taiwan's Foreign Ministry's Department of European Affairs, told reporters that the new Lithuanian representative Paulius Lukauskas had arrived in Taipei earlier this month, and on Monday had formally applied for his accreditation.

The new Lithuanian office was therefore "basically" now in operation, but office equipment is still being installed, Chen added.

China has repeatedly denounced Lithuania's engagement with Taiwan.

Last month, China imposed sanctions on Lithuanian Deputy Transport and Communications Minister Agne Vaiciukeviciute for visiting Taiwan.

China says Taiwan is one of its provinces with no right to the trappings of a state.

Taiwan's democratically-elected government strongly objects to China's claims, saying that the People's Republic of China has never governed the island and has no right to speak on its behalf globally or decide its future. (Reuters)

Financial advisory group Lazard (LAZ.N) has started talks with India, China and Japan on restructuring Sri Lanka's debt, a spokesman for the Sri Lanka government said on Tuesday, as the crisis-hit island nation seeks an International Monetary Fund (IMF) bailout.

Lazard was hired by Sri Lanka in May, along with international lawyers Clifford Chance, to guide the government through the process of restructuring its debt, for which estimates range from $85 billion to well over $100 billion.

Earlier this month, the IMF said it had reached a preliminary agreement with Sri Lanka for a loan of about $2.9 billion. But for the deal to go through, the country will require debt relief from China, India and Japan, its three main international lenders.

"They are in the process of speaking to India, China, Japan, mainly to ensure we come to some sort of consensus," acting cabinet spokesperson Ramesh Pathirana told reporters, referring to Lazard.

"We will keep our fingers crossed that we will be able to come to an agreement."

The three countries hold about $13 billion of Sri Lanka's debt, while China is Sri Lanka's largest bilateral creditor.

Sri Lanka is also expected to formally reach out to private creditors who hold about $12 billion in bonds later this week, a government source told Reuters.

"The government is planning to start talks with the ambassadors of China, U.S., Japan and India next week on debt restructuring," the source said, declining to be named as he was not authorised to speak to media.

Sri Lanka is in the throes of its worst financial crisis in seven decades, leaving it with paltry foreign exchange reserves to pay for critical imports of fuel, food and medicine. (Reuters)

China's foreign ministry declined to say whether President Xi Jinping will meet Russian President Vladimir Putin or Indian Prime Minister Narendra Modi during the Shanghai Cooperation Organisation regional security bloc summit this week.

The summit will take place in Uzbekistan from Sept. 15.

The foreign ministry was asked about Xi's plans during a daily news briefing on Tuesday. (Reuters)