VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

KBRN, Jakarta: The bilateral relationship between the Sultanate of Oman and Indonesia continues to strengthen, especially in the sectors of economy, tourism, and sustainable energy. The Ambassador of the Sultanate of Oman to Indonesia, Muhammed bin Ahmed Salim Al Shanfari, emphasized that the cooperation between the two countries is based on mutual trust and a shared vision for prosperity.

"Since diplomatic relations began in 1970, Oman and Indonesia have shown a strong dedication to supporting each other across various sectors. We want to strengthen this relationship for the benefit of both nations," he said during the 54th National Day Reception of the Sultanate of Oman in Central Jakarta on Tuesday (19/11/2024).

One significant development is the increase in bilateral trade, which reached USD 2.2 million in 2023, up 20% in the last five years. "This figure shows great potential for expanding cooperation in trade, especially in tourism, food security, and energy," added Al Shanfari.

Oman is also prioritizing investments in green energy as part of its efforts to achieve net-zero carbon emissions by 2050. "We are developing an ambitious green hydrogen project with a large production target set for 2030. This is Oman's contribution to the global energy transition toward a more sustainable future," he explained.

In addition to the economy, connectivity between the two countries is also a focus of cooperation. The recently agreed air transport agreement opens up new opportunities in logistics and tourism.

"We believe that increased connectivity will strengthen ties between our people and support economic growth," said Al Shanfari.

In conclusion, Al Shanfari stressed the importance of strategic cooperation between Oman and Indonesia to address global challenges. "We believe in the values of peace, harmony, and human rights. Through this cooperation, we aim to contribute to creating a better world," he said.

FILE PHOTO: People cross the street at Ginza shopping district in Tokyo, Japan, August 11, 2024. REUTERS/Willy Kurniawan/File Photo

VOInews, Tokyo : Japan is considering spending 13.9 trillion yen ($89.7 billion) from its general account to fund a new stimulus package aimed at mitigating the impact of increasing prices on households, public broadcaster NHK said on Thursday.

The proposed spending, exceeding the 13.2 trillion yen allocated for last year's economic stimulus, is set to exacerbate Japan's already strained public finances, with debt currently twice the size of its economy.

The package also includes around 8 trillion yen for government investment and lending, as well as local government spending, putting the overall package at 39 trillion yen when private funding is included, NHK reported without citing sources.

The stimulus package will include 30,000 yen ($193) to low-income households that are exempt from residential taxes and 20,000 yen per child for households with families, according to sources familiar with the matter.

Major hurdles over the package were cleared on Wednesday after Japan's ruling coalition agreed with a key opposition party on the draft of the package.

"I'm not sure whether the economic package of this size is necessary now, when there are emerging signs that private consumption is picking up and real wage growth is turning positive," said Takayuki Sueyoshi, senior economist at Daiwa Institute of Research.

Sueyoshi also said that Japan's goal of running a primary budget surplus in the next fiscal year would now be hard to fulfill.

The government estimated in July that Japan would achieve a primary budget surplus of 0.8 billion yen in fiscal 2025, which means tax revenues will slightly exceed expenditures.

In the past, Japan has used supplementary budgets, typically worth a few trillion yen, to deal with one-off, emergency spending, such as disaster relief. That changed in 2020, when the size ballooned to 73 trillion yen to combat the COVID-19 pandemic.

Since then, Japan has continued to compile outsized, largely debt-funded, supplementary budgets. Last year, nearly 9 trillion yen of the 13-trillion-yen spending was funded by new debt.

The scale of new bonds Japan would need to issue remains unclear. Last year, the government issued close to 9 trillion yen in bonds for the supplementary budget.

The International Monetary Fund has warned that Japan must fund any additional spending plans within its budget rather than issue more debt, urging the government to get its fiscal house in order as the central bank starts to raise interest rates//CNA-VOI

The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. REUTERS/Angus Mordant/File Photo

VOInews, Texas, U.S : Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine.

Brent crude futures for January rose 28 cents, or 0.4 per cent, to $73.09. U.S. West Texas Intermediate crude futures for January rose 28 cents, or 0.4 per cent, at $69.03.

Ukraine fired a volley of British Storm Shadow cruise missiles into Russia on Wednesday, the latest new Western weapon it has been permitted to use on Russian targets a day after it fired U.S. ATACMS missiles.

Moscow has said the use of Western weapons to strike Russian territory far from the border would be a major escalation in the conflict. Kyiv says it needs the capability to defend itself by hitting Russian rear bases used to support Moscow's invasion, which entered its 1,000th day this week.

Meanwhile, U.S. crude stocks rose by 545,000 barrels to 430.3 million barrels in the week ended Nov. 15, the Energy Information Administration said, compared with analysts' expectations in a Reuters poll for a 138,000-barrel rise.

Gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw.

Adding to supply, Norway's Equinor said it had restored full output capacity at the Johan Sverdrup oilfield in the North Sea following a power outage.

Meanwhile, the Organization of the Petroleum Exporting Countries and its allies led by Russia, the group known as OPEC+, may push back output increases again when it meets on Dec. 1 due to weak global oil demand, according to three OPEC+ sources familiar with the discussions.

OPEC+, which pumps around half the world's oil, had initially planned to gradually reverse production cuts with minor increases spread over several months in 2024 and 2025.

However, a slowdown in Chinese and global demand, coupled with rising output outside the group, have potentially thwarted this plan//CNA-VOI

A low pressure storm system known as a "bomb cyclone" forms off the coast of the US Pacific Northwest and western Canada in a composite satellite image on Nov 19, 2024. (Photo: Handout via REUTERS/CIRA/NOAA)

VOInews, Washington DC : A powerful storm was clobbering Washington state on Wednesday (Nov 20), knocking out power to hundreds of thousands while wreaking havoc on road travel and causing at least one death and two injuries. 

A woman was killed on Tuesday when a tree fell on a homeless encampment in Lynnwood, just north of Seattle, local fire department officials said on social media. Two people were also injured when a tree fell on their trailer in Maple Valley, southeast of Seattle.

Schools across western Washington canceled classes or postponed the start of school on Wednesday.

The storm with hurricane force winds of 80kmh and gusts around 70mph felled trees and power lines overnight. It knocked out electricity to more than 600,000 homes and businesses in Washington, Southwest Oregon and Northern California, according to the Poweroutage.us.

"The storm is just beginning," said Rich Otto, a meteorologist with the NWS Weather Prediction Center in College Park, Maryland.

"We haven't gotten a ton of rain yet, just 2-3 inches over Southwest Oregon and Northern California," Otto said.

But the storm, called a "bomb cyclone" which happens when the storm rapidly intensifies, is going to stall over Northern California in the next few days, he said.

"The biggest surge is Thursday. We're looking at 10-15 inches of rain by Friday, some places, 20-inches," Otto said, with the main concerns for southwest Oregon and Northern California.

A bomb cyclone rapidly intensifies in 24 hours or less when a cold air mass from the polar region collides with warm tropical air in a process that meteorologists call bombogenesis.

The weather service has issued a plethora of warnings and watches across the Pacific Northwest for high winds, flood watches and warnings, and including blizzard warnings from Northern Washington to the Sierra Nevada Range.

According to the state's department of transportation, the storm was making road travel treacherous. Downed trees and weather conditions were slowing traffic across the state, as the department warned motorists to be cautious while on the roadways//CNA-VOI