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International
Friday, July 31, 2015
Bali News
International
Dollar up on Fed rate talk, Asia markets mostly rise
With the mood on global markets a little more upbeat than at the start of the week, oil prices edged up although concerns over a supply glut are keeping a lid on rises. Tokyo jumped 1.08 percent, or 219.92 points, to 20,522.83 as the yen weakened against the
greenback and top firms including Nintendo reported strong earnings. Sydney rose 0.81 percent, or 45.3 points, to close at 5,669.5 thanks to a pick-up in iron ore prices. Shanghai suffered a late sell-off to end 2.20 percent lower, dropping 83.40 points to 3,705.77, while
Hong Kong followed the losses to close down 0.49 percent, or 121.47 points, at 24,497.98. Seoul dropped 0.91 percent, or 18.59 points, to 2,019.03, hurt by selling in heavyweight Samsung Electronics after it reported disappointing earnings. After a two-day policy meeting, the Fed said in a statement that the world’s top economy had expanded “moderately” in recent months and the jobs market had
strengthened, but it noted continued “soft” business investment and exports. It also said inflation was below target, though it put much of that down to falling energy prices and to cheaper imports caused by the strong dollar. While it gave no more clues about its plans for raising interest rates, analysts said the wording suggested September was now a strong possibility for a rate rise.
On Wall Street, the Dow rose 0.69 percent, the S&P 500 gained 0.73 percent and the Nasdaq advanced 0.44 percent. The gains were the second in a row after US stocks suffered a five-day losing streak. “The Fed statement was similar to the last and it was a very modest upgrade to previous language,” said Raiko Shareef, a markets strategist at Bank of New Zealand in Wellington. (afp)
Galaxy S6 fails to reverse profit decline at Samsung
SEOUL — Samsung Elec- while operating income dropped earlier this month. It generated compared with 4.4 trillion won a tronics suffered a fifth straight 4 percent to 6.9 trillion won, in 2.8 trillion won operating in- year earlier. The only bright spot came drop in quarterly earnings as line with its earnings preview come from the mobile business the Galaxy S6 failed to reverse its declining fortunes in global smartphone sales. The company’s overall earnings drop during the April-June quarter was 8 percent but it reported a much bigger decline of 38 percent in the mobile division’s income. The sharp profit drop in the mobile business came despite its ambitious start to the quarter with the launch of two flagship smartphones: the Galaxy S6 and the S6 Edge featuring a curved side display. “Total sales of the S6 and S6 Edge during the second quarter were below expectations,” Park Jinyoung, a vice president at Samsung’s mobile communications team, said on a conference call Thursday. The decline in the mobile profit was smaller than the previous quarter’s nearly 60 percent plunge, but it extended the mobile division’s losing streak. Samsung’s sky-high growth in the smartphone industry came to a sudden stop in 2013 as bigger iPhone models lured buyers from Samsung phones and Chinese phone makers squeezed its sales in China. Samsung’s April-June net income was 5.8 trillion won ($5 billion), down 8 percent from 6.3 trillion won a year earlier. A FactSet survey of analysts predicted AP Photo/Ahn Young-joon 5.6 trillion won of net income. An employee of Samsung Electronics Co. watches a mobile phone near an advertisement of Sales fell 7 percent over a Samsung Electronics’ Galaxy S6 and S6 Edge smartphone at a Samsung Electronics shop in year earlier to 48.5 trillion won Seoul, South Korea, Thursday, July 30, 2015.
from sales of components powering smartphones. A robust performance at its semiconductor department helped narrow the overall profit decline. Operating income from its semiconductor division surpassed the 3 trillion won mark for the first time in several years. Samsung pinned high hopes on the S6 and S6 Edge phones when they were introduced in April. So much so that local media dubbed them the “Lee Jae-yong phone,” indicating that they were overseen by the Samsung chairman’s son, Lee Jae-yong. He is a vice chairman at Samsung who is widely expected to succeed his ailing father. But sales of the flagship models fell short, dealing a blow to the 47-year-old heir apparent who is under pressure to demonstrate he is capable of leading the Asian consumer technology giant at a time of serious challenges. The company was hit by two problems with its Galaxy S6 series. The regular version of the phone, the Galaxy S6, wasn’t as popular as expected, while it could not keep up with demand for the S6 Edge model, which features a display that curves on both sides that is more difficult to produce. Market research firm IDC said Samsung, still the world’s largest maker of smartphones, was the only top five smartphone vendor that lost market share during the second quarter, falling to 22 percent, from 25 percent a year earlier. (ap)
5
Bali bids farewell to Consul General of India
BUSINESS
HONG KONG - The dollar pushed higher on Thursday after the Federal Reserve upgraded its outlook on the US economy, fuelling talk of a September interest rate hike, while Asian shares were mostly up after a Wall Street rally.
Friday, July 31, 2015
DENPASAR - In an elegant ceremony at Gedung Wiswa Sabha Utama on 27 July 2015, the Balinese community led by the Governor of Bali, Made Mangku Pastika and Ibu Ayu Pastika, along with the prominent members of the Indian community led by Ambassador of India to Indonesia and Timor-Leste, H.E. Mr. Gurjit Singh, and the members of the Bali Consular Corps, bid farewell to Mr. A.S. Takhi and Mrs. Gurinder Kaur Takhi, who are expected to depart Bali early next month on their next assignment.
IBP/Sosiawan
Egg war, a tradition to awaken Tri Kaya Parisudha concept
BANGLI - Lately a number of people often express their sense of excitement by dissipating. Sometimes, this behavior often results in new problems leading to personal grudges. Apparently this matter does not happen to people at Kayubihi village, Bangli. Their joy in life is expressed through the tradition known as Egg War as organized on Wednesday (Jul. 29). Chief of Kayubihi customary village, I Wayan Sadia, said that the tradition poses a heritage passed down from generation to generation. It is implemented on the Ngusabha Pausa or Kelod. This tradition undergoes similar condition to the Mapeed Ngiring Tangas tradition that has not been held for 22 years due to cuntaka or temporary impurity of the village and construction of several temples at local village. “It has become a tradition of local village. However, it has long not been implemented due to impurity of local village and the construction of several temples. This can just be realized after being dormant for 22 years,” he explained. Associated with the name of the tradition, explained Sadia, the egg war is not throwing eggs, but using a ball made from young coconut or palm leaf sizing a small child’s fist. The egg war is organized in a series of Nyunding procession meaning to express people’s excitement having been endowed with prosperity. In addition, when the mutu-
ally throwing action begins, the public is not allowed to be angry or revengeful. “This tradition is intended to implement the Tri Kaya Parisudha (good thought, speech and deed) concept. When throwing, all the participants may not say rude, may not get angry and may not be revengeful. After the event, it must still be applied,” he said. Before the throwing action begins, all the participants, namely Jero Truna and Pamuit village and Uduhan village must say prayers first at Pausa Temple located in the east of Kayubihi meeting hall. After the prayers, participants are divided into two camps and move toward the front area of Pausa Temple. It is the time for distributing eggs to participants and the war immediately begins. In the procession, firstly, Jero Truna is defeated and driven back to Sepat Sikut Temple (north of Pausa Temple). Secondly, customary villagers pushed customary youth to location in the south of the meeting hall. Ultimately, both groups undergo purificatory rite at Pasiraman and Dalem Pingit Temple. Sadia added that after the purificatory rite some participants of the war trigged themselves with young coconut leaf headdress and sarong. After that, all the participants make kawisan gift delivery tradition to widows living at the customary village. Interestingly, prior delivering the gifts, the participants must dance. (sos)
Recalling the pivotal role played by A.S. Takhi in building bridges between the India & Bali, both Governor Pastika & Ambassador Gurjit Singh were effusive in their recognition and praise for the yeoman’s service by the first Consul General of India in Bali in raising the level of connectivity between peoples of both the countries. The Governor wished them well for their future endeavours. He was also appreciative of the role played by the Consul General Takhi & the Indian community in developing a harmonious and prosperous Bali. The Governor also sang an evergreen Hindi song, the Bahasa Indonesia version of which has been popular all over Indonesia and of which the Governor is highly fond of, as he hummed the same during his youthful days. The Ambassador acknowledged that Consul General Takhi has indeed carried out his man-
date in remarkable manner not only in the island of Bali but also in several other provinces in eastern Indonesia. He particularly referred to the huge success of Sahabat India Festival held in different locations in eastern Indonesia and particularly in universities & schools in this region. The Ambassador thanked the Balinese community for their emphatic support to the Consul General and his team in strengthening the friendship between two countries. Earlier, during his farewell address, Consul General Takhi conveyed his greetings to the Balinese community on the Galungan & Kuningan celebrations. He profusely thanked the Governor and his entire administration as well as the entire Balinese community for their consistent support and encouragement. He also expressed his thanks to the provincial & regional adminis-
trations across 15 provinces in eastern Indonesia covering the islands of Bali, Lombok, Sulawesi, Maluku, Papua, East & South Kalimantan which form the consular districts of the Consulate General of India in Bali. He appreciated the assistance received from the universities, schools, socio-cultural institutions, art & cultural personalities and the general public at large across eastern Indonesia, in a show-off enormous goodwill for India, with which Indonesia shares civilizational relations. Bali had record participation in the first International Day of Yoga celebrations held on June 21, 2015 & both Ambassador Gurjit Singh and Consul General A.S. Takhi conveyed their appreciation & thanks for the wholehearted support of the Balinese community to this excellent initiative of Prime Minister Narendra Modi of India. (r)
IBP/Courtesy of Consulate India