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Excise deny fake reports circulating about liquor shops opened on April 13 - Breaking News

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Sri-lanka , Sri-lanka-tourism-development-authority , Excise-department , Tamil-new , Sri-lanka-tourism-development , Excise , Deny , Fake , Reports , Circulating , About

Freely circulating into major currencies | The Manila Times

ZHENGZHOU, China: Previously, I discussed the extent to which a currency could freely circulate as being crucial in determining whether it can become a major currency regionally or even globally. Some currencies, such as the British pound and Swiss franc, although not issued by the world's major economies, have achieved significant levels of free circulation and thus might also be considered to have joined the ranks of major currencies. Others, like the euro and Japanese yen, backed by sizable economies and free circulation, are as such as well.A year and a half ago, the United Kingdom suddenly announced tax cuts, which originally, at least in the eyes of the British government, seemed reasonable. The British economy had been toying with a slump, and the Conservative British government wanted to pull the same rabbit out of its economic hat. After all, some of us may remember that in the 1980s, then British Prime Minister Margaret Thatcher also implemented significant tax reductions, which might be said to have successfully revived the previously stagnant UK economy. Thatcher also mercilessly slashed what she considered excessive social welfare benefits in Britain. In retrospect, one cannot help but admire Thatcher's resoluteness in bulldozing through the then-British socioeconomic quagmire in what she thought would revamp the seemingly unbearable mess and, in the process, restore some of Britain's global standing.Similarly, another newly appointed prime minister, Liz Truss, intended to follow suit in late 2022. However, times have changed, and in recent years, the UK might be said to have once again fallen sway under welfare-state socioeconomic ideologies. Domestically and internationally, it was widely acknowledged that while the UK government may experience a short-term decrease in revenue due to tax cuts, the necessary expenditures on various social welfare programs were unlikely to decrease in proportion, thus potentially leading to a rise in the fiscal deficit, which was seen to be detrimental to the economy. Therefore, when the tax-cut announcement was made, instead of British businesses celebrating and rallying, the UK's financial markets immediately plummeted, ironically painting a grim picture of the country's struggling economy.At the same time, reflecting the negative sentiment in the markets, the exchange rate of the British pound also plummeted in the aftermath of the tax-cut announcement. As befitting its role as the British central bank, the Bank of England attempted to succor the pound, such as by purchasing the currency in the open market, but that seemed to have little effect. However, it is worth noting that even at the height of the significant drop in the pound's value, the UK did not resort to some aggressive interventions, such as prohibiting the outflow of its currency overseas. It was not until a number of days later, after the UK chancellor of the exchequer and prime minister resigned successively, and the new prime minister (the current one, Rishi Sunak) along with the new chancellor of the exchequer definitively withdrew the tax cut policy, that the UK financial markets and the value of the pound stabilized, albeit at a lower threshold. What we should distill from this valuable perspective and the painful lesson is perhaps that although the pound, as one of the world's major currencies, may still experience fluctuations, it is crucial that the UK authorities were willing to reassess those policies that may have brought about the unintended consequences. They were viewed as unlikely to resort to aggressive or crude currency intervention measures. Therefore, the overall worldwide attitude toward the pound is unlikely to change significantly, and the pound remains a major currency of the world.As for Japan, in recent years, perhaps in an effort to stimulate the Japanese economy, the Bank of Japan, as the island nation's central bank, has implemented a monetary policy of zero or even negative interest rates. For Japanese consumers, depositing money in banks not only yields no interest but may also require paying interest to the bank, so it would be better to hold on to the money and perhaps be tempted to spend the money instead. For Japanese businesses, commercial loans would thus come with almost no interest, making them, at least in principle, more willing to borrow money from financial institutions to expand their business operations. Surprisingly, such low interest rates have not led to significant inflation in Japan as they would have in other major markets or economies, such as the United States or the European Union. This may be somewhat related to Japan's relatively restrained market discipline on both the supply and demand sides. However, with more Japanese yen wallowing in the market, its exchange rate has decreased compared to other major currencies.Yet the Bank of Japan has not been seen to have intervened extensively to 'rescue' the yen from depreciation, nor has the central bank restricted the domestic or international circulation of the yen. This is perhaps because, on the one hand, a lower yen benefits Japan's exports, and on the other hand, it makes Japan a favored destination for international tourists and investors alike. This could explain why, despite the theoretical decrease in outbound tourism due to the low value of many Southeast Asian currencies, Japan still attracts many visitors and prospectors from Southeast Asia. When I was in Japan last year, I was constantly crowded by seas of tourists, many of them Southeast Asians, even in some of the most remote corners. I also learned that many previously abandoned houses all over Japan were being snapped up by foreign buyers, some of whom are Southeast Asians.Indeed, Japan has suddenly become much more 'affordable' for foreigners — tourists, investors, buyers alike — and in the process, hopefully, some new energy could be injected into the stagflating Japanese economy. It is worth noting that despite its declining value, the yen has not ceased to be one of the major international currencies. It is still widely sought after by many around the world. And free circulation in and out of the currency-issuing country has a lot to do with such confidence and demand.

China , United-states , United-kingdom , Manila , Philippines , Switzerland , Japan , Zhengzhou , Henan , Japanese , Britain , British

Queenstown airport latest victim of $3 bag scam

Queenstown Airport has said a purported “$3 luggage sale” its is a scam, warning travellers that adverts circulating on Facebook claiming to be a lost...

Denver , Colorado , United-states , Australia , New-zealand , Mexico , Auckland , Bangladesh , Australian , Bangladeshi , Mexican ,

White House voices alarm over explicit AI Taylor Swift deepfakes

The White House has said explicit doctored images of singer Taylor Swift circulating on social media are “very alarming” and urged Congress to take...

United-kingdom , White-house , District-of-columbia , United-states , Elon-musk , Taylor-swift , Karine-jean-pierre , Facebook , Twitter , Online-safety , White , House

Foo Fighters Christchurch: Cheeky concertgoer arrested after stripping naked in crowd

One keen Foo Fighters fan is taking off on social media, with images of the nude concertgoer, taken by fellow crowd members at the band’s latest concert...

New-zealand , Dave-grohl , Claire-sherwood , Rami-jaffee , Pat-smear , Hauraki-instagram , Chris-shiflett , Glenn-dwight , Nate-mendel , Josh-freese , Instagram , Foo-fighters

Breakfast

children to do? hand hygiene is really important, _ children to do? hand hygiene is really important, washing i children to do? hand hygiene is| really important, washing hands after being in the toilet before eating food, cover your face coughing and sneezing, she is with them, get them vaccinated, childhood diseases, if you have not got your two to three—year—olds to the gp to get a flu vaccination do it this week, there is still a lot of flu circulating. it week, there is still a lot of flu circulating-— week, there is still a lot of flu circulatinu. ., ., ~ ., circulating. it is so hard to know these days, _ circulating. it is so hard to know these days, it's _ circulating. it is so hard to know these days, it's a _ circulating. it is so hard to know these days, it's a much - circulating. it is so hard to know these days, it's a much bigger. these days, it's a much bigger decision. ~ , , time now to get the news, travel and weather where you are. hello, good morning from bbc london. strikes by london underground workers for most of the week have been called off, but passengers are being warned they may still face disruption. members of the rmt union were due to walk out until friday in a dispute over a 5% pay offer. but the action has now been suspended after progress in talks.

Children , Hand-hygiene , Childhood-diseases , Eating-food , Washing-i , Sneezing , Toilet , Coughing , Lot , Flu , Gp , It-week

How to spot fake money: Police offer tips on counterfeit banknotes

Can you tell the difference between a real banknote and a counterfeit? Police say fakes have been circulating recently and are offering tips to discern the...

Jessica-owen , Reserve-bank , How , To , Spot , Fake , Money , Police , Offer , Tips , On

Fake news sparks probe on Christmas party, class suspension claims in Davao City schools

Fake news sparks probe on Christmas party and class suspension claims in Davao City schools. A social media hoax falsely announced the cancellation of Christmas parties and the suspension of classes in public schools in Davao City. The Department of Education-Davao Region has identified this as disinformation and is investigating the matter. Stay informed on the latest developments regarding this issue.

Marawi , Philippines , Davao-city , Davao , Jeneilito-dodong-atillo , Sebastian-duterte , Reynante-solitario , Department-of-education , Facebook , Deped-davao-city-schools-division-superintendent , Adm , Education-davao-region

Police officer chases handcuffed man in Tauranga

Video footage of an exhilarating foot pursuit of a handcuffed man in Mount Maunganui is circulating on social media, leaving viewers in stitches. The...

Mount-maunganui , New-zealand-general- , New-zealand , Tauranga-district-court-on , Facebook , Pacific-coast , Sonya-mabey , Tauranga-district-court , Police , Officer , Chases

Wellington mayor Tory Whanau admits alcohol problem: 'I am a flawed person'

Wellington mayor Tory Whanau has admitted she has a drinking problem, says she is getting “professional help” and hinted that video of another incident of...

Wellington , New-zealand-general- , New-zealand , Rebecca-matthews , Shay-lomas , Tory-whanau , Old-quarter , Wellington-morning-nick-mills , Mayor , Tory , Whanau