Bangladesh hikes fuel prices to highest in history  

An activist displays a banner and shout slogans during a torch rally to protest against rising fuel prices in Dhaka on August 6, 2022. (AFP)
An activist displays a banner and shout slogans during a torch rally to protest against rising fuel prices in Dhaka on August 6, 2022. (AFP)
Short Url
Updated 06 August 2022

Bangladesh hikes fuel prices to highest in history  

Bangladesh hikes fuel prices to highest in history  
  • Price surge comes after state-run oil company recorded $845m loss in six months
  • Economists say poorer people will suffer most as food supply chain affected 

DHAKA: Fuel prices in Bangladesh increased more than 51 percent on Saturday — the steepest rise in the country’s history — as the government said it is trying to keep oil supply normal.

Bangladesh’s $416 billion economy has been one of the fastest growing in the world for years, but the country has struggled with globally rising food and fuel prices, which inflated its import bill. The government in July began a loan application with the International Monetary Fund, which experts said is aimed at creating a buffer in its reserves.

The price of petrol was increased by 51.1 percent and diesel by 42.5 percent, Dhaka announced late on Friday, leading to thousands of Bangladeshis racing to fuel stations nationwide to try to fill their vehicles before the hike went into effect. 

The price rise comes after state-run Bangladesh Petroleum Corporation recorded a loss of more than 80 billion taka ($840 million) between February and July due to fuel subsidies, the Ministry for Power, Energy and Mineral Resources said in a statement. 

“There was no option but to increase the prices to keep the fuel oil supply normal,” Minister for Power, Energy and Mineral Resources Nasrul Hamid told reporters on Saturday. 

Hamid appealed for patience and acknowledged that the new prices “will not seem tolerable to everyone.” 

“We are repeatedly asking everyone to be frugal, to save on fuel and to use cars less often because the transport sector is the biggest user of diesel,” he said. 

“We will readjust the prices if they come down in the international market.” 

Bangladesh’s inflation rate hit 7.48 percent in July amid soaring global energy prices in the wake of Russia’s invasion of Ukraine, though oil has fallen back in recent weeks. 

Economists said that the price hike on Saturday could have been implemented slowly, as the increase is expected to severely affect poorer people already under strain because of the rising cost of living. 

“If the price hike was inevitable to reduce the losses, the government could have done it gradually. Like every six months, the fuel price could be increased by 4 to 5 percent. It would be much easier for the people to bear,” Asaduzzaman, former research director at the Bangladesh Institute of Development Studies, told Arab News. 

Asaduzzaman said that he is worried about the effect on food supply in Dhaka, with many essential items transported from different parts of the country to the capital. 

“This price hike will add to inflation tremendously as it will make the supply chain within the country much costlier. Food supplies will be impacted to the highest level,” he said. 

“The poor will suffer most due to this fuel price hike.” 

Higher fuel prices will “create huge pressure on people’s lives” and stoke inflation, Fahmida Khatun, executive director at the Center for Policy Dialogue in Dhaka, told Arab News. 

Khatun said that the increase will have an immediate effect on transportation, house rental, electricity bills, industrial production and irrigation in Bangladesh. 

Amir Hossain, a farmer from Rajshahi city, told Arab News that the price hike will increase his irrigation costs. 

“An increase in fuel price around 50 percent is truly unbearable for the poor like me. Our cost of living will be increased at an even higher rate. But where will I get the increased earnings?” Hossain said.


Australia upset at Indonesia reducing Bali bomber’s sentence

Australia upset at Indonesia reducing Bali bomber’s sentence
Updated 58 min 21 sec ago

Australia upset at Indonesia reducing Bali bomber’s sentence

Australia upset at Indonesia reducing Bali bomber’s sentence
  • Umar Patek could be released on parole ahead of the 20th anniversary of the bombings in October
  • Australian leader Anthony Albanese: ‘His actions were the actions of a terrorist’

CANBERRA: Australia’s leader said Friday that it’s upsetting Indonesia has further reduced the prison sentence of the bombmaker in the Bali terror attack that killed 202 people — which could free him within days if he’s granted parole.
The most recent reduction of Umar Patek’s sentence takes his total reductions to almost two years and means Patek could be released on parole ahead of the 20th anniversary of the bombings in October.
“This will cause further distress to Australians who were the families of victims of the Bali bombings,” Prime Minister Anthony Albanese told Channel 9. “We lost 88 Australian lives in those bombings.”
Albanese said he would continue making “diplomatic representations” to Indonesia about Patek’s sentence and a range of other issues, including Australians currently jailed in Indonesia. Albanese described Patek as “abhorrent.”
“His actions were the actions of a terrorist,” Albanese told Channel 9. ”They did have such dreadful results for Australian families that are ongoing, the trauma which is there.”
Indonesia often grants sentence reductions to prisoners on major holidays such as the nation’s Independence Day, which was Wednesday.
Patek received a 5-month reduction on Independence Day for good behavior and could walk free this month from Porong Prison in East Java province if he gets parole, said Zaeroji, who heads the provincial office for the Ministry of Law and Human Rights.
Zaeroji, who goes by a single name, said Patek had the same rights as other inmates and had fulfilled legal requirements to get sentence reductions. “While in the prison, he behaved very well and he regrets his radical past which has harmed society and the country and he has also vowed to be a good citizen,” Zaeroji said.
Patek was arrested in Pakistan in 2011 and tried in Indonesia, where he was convicted in 2012. He was originally sentenced to 20 years imprisonment.
With his time served plus sentence reductions, he became eligible for parole on Aug. 14. The decision from the Ministry of Law and Human Rights in Jakarta is still pending, Zaeroji said. If refused parole, he could remain jailed until 2029.
Patek was one of several men implicated in the attack, which was widely blamed on Jemaah Islamiyah, a Southeast Asian militant group with ties to Al-Qaeda. Most of those killed in the bombing on the resort island were foreign tourists.
Another conspirator, Ali Imron, was sentenced to life. Earlier this year, a third militant, Aris Sumarsono, whose real name is Arif Sunarso but is better known as Zulkarnaen, was sentenced to 15 years following his capture in 2020 after 18 years on the run.
Jan Laczynski, a survivor of the bombings, told Channel 9 that many Australians will be “devastated” by Patek’s potential release. “This guy should not be going out unsupervised, unmonitored,” he said.


North Korea dismisses Seoul’s aid-for-disarmament offer

North Korea dismisses Seoul’s aid-for-disarmament offer
Updated 19 August 2022

North Korea dismisses Seoul’s aid-for-disarmament offer

North Korea dismisses Seoul’s aid-for-disarmament offer
  • Kim Yo Jong: Country has no intentions to give away nuclear weapons and ballistic missiles program for economic cooperation

SEOUL: The sister of North Korean leader Kim Jong Un said her country will never accept South Korean President Yoon Suk Yeol’s “foolish” offer of economic benefits in exchange for denuclearization steps, accusing Seoul of recycling proposals Pyongyang already rejected.
In a commentary published by state media Friday, Kim Yo Jong stressed that her country has no intentions to give away its nuclear weapons and ballistic missiles program for economic cooperation, saying “no one barters its destiny for corn cake.”
She questioned the sincerity of South Korea’s calls for improved bilateral relations while it continues its combined military exercises with the United States and fails to stop civilian activists from flying anti-Pyongyang propaganda leaflets and other “dirty waste” across their border.
She also ridiculed South Korea’s military capabilities, saying the South misread the launch site of the North’s latest missile tests on Wednesday, hours before Yoon used a news conference to urge Pyongyang to return to diplomacy.
South Korea’s Unification Ministry, which handles inter-Korean affairs, expressed “strong regret” over Kim Yo Jong’s comments that it said were disrespectful to President Yoon Suk Yeol and reaffirmed the North’s desire to continue developing nuclear weapons.
“This attitude from North Korea will not only threaten peace on the Korean Peninsula but result in further difficulties for the North by worsening its international isolation and economic situation,” said Lee Hyo-jung, a ministry spokesperson.
Kim Yo Jong last week had threatened “deadly” retaliation against the South over the COVID-19 outbreak in the North, which it dubiously claims was caused by leaflets and other objects dropped from balloons launched by southern activists.
Yoon during a nationally televised speech on Monday proposed an “audacious” economic assistance package to North Korea if it takes steps to abandon its nuclear weapons and ballistic missiles program. The offers of large-scale aid in food and health care and modernizing electricity generation systems and seaports and airports weren’t meaningfully different from previous South Korean proposals rejected by the North, which is speeding the development of an arsenal Kim Jong Un sees as his strongest guarantee of survival.
Kim Yo Jong, one of the most powerful officials in her brother’s government who oversees inter-Korean affairs, said Yoon displayed the “height of absurdity” with his offer, saying it was realistic as creating “mulberry fields in the dark blue ocean.”
She said South Korea’s words and actions would only incite “surging hatred and wrath” from North Koreans and insisted Pyongyang has no immediate plans to revive long-stalled diplomacy with Seoul. “It is our earnest desire to live without awareness of each other,” she said.
Inter-Korean ties have worsened amid a stalemate in larger nuclear negotiations between North Korea and the US that derailed in 2019 because of disagreements over a relaxation of crippling US-led sanctions on the North in exchange for disarmament steps.
There are concerns that Kim Yo Jong’s threats last week over the leafletting portends a provocation, of which the possibilities may include a nuclear or missile test or even border skirmishes. The United States and South Korea kick off their biggest combined training in years next week to counter the North Korean threat. The North describes such drills as invasion rehearsals and has often responded to them with missile tests or other provocations.
During Wednesday’s news conference, Yoon expressed hope for meaningful dialogue with the North over his aid-for-disarmament proposal. Maintaining a reserved tone, Yoon said his government has no plans to pursue its own nuclear deterrent and doesn’t desire political change in Pyongyang that’s brought by force.
Yoon spoke hours after South Korea’s military detected North Korea firing two suspected cruise missiles toward the sea and identified the western coastal site of Onchon as the launch location. Kim Yo Jong in her column said the weapons were fired from a bridge in the city of Anju, north of Onchon and farther inland, and ridiculed South Korean and US capacities to monitor North Korean missile activity. The South’s military has yet to release its analyzed flight details of those missiles.
“If the data and flight trajectory (of the missiles) are known, (the South) will be so bewildered and afraid,” Kim Yo Jong said. “It will be a thing worthy of seeing how they will explain about it before their people.”
The latest launches extended a record pace in North Korean missile testing in 2022, which has involved more than 30 ballistic launches, including the country’s first demonstrations of intercontinental ballistic missiles in nearly five years.
North Korea’s heighted testing activity underscores its dual intent to advance its arsenal and force the United States to accept the idea of the North as a nuclear power so it can negotiate economic and security concessions from a position of strength, experts say.
Kim Jong Un could up the ante soon as there are indications that the North is preparing to conduct its first nuclear test since September 2017, when it claimed to have developed a thermonuclear weapon to fit on its ICBMs.


Erdogan warns of ‘another Chernobyl’ after talks in Ukraine

Erdogan warns of ‘another Chernobyl’ after talks in Ukraine
Updated 19 August 2022

Erdogan warns of ‘another Chernobyl’ after talks in Ukraine

Erdogan warns of ‘another Chernobyl’ after talks in Ukraine
  • A flare-up in fighting around Europe’s largest nuclear facility in Russian-controlled southern Ukraine has sparked urgent warnings from world leaders

LVIV, Ukraine: Turkish leader Recep Tayyip Erdogan warned Thursday of a nuclear disaster in Ukraine during his first face-to-face talks with President Volodymyr Zelensky since Russia’s invasion began, echoing pleas from the UN’s chief.
A flare-up in fighting around Europe’s largest nuclear facility in Russian-controlled southern Ukraine has sparked urgent warnings from world leaders, and UN chief Antonio Guterres cautioned during talks with Erdogan that any damage to the plant would be akin to “suicide.”
“We are worried. We don’t want another Chernobyl,” Erdogan said during a press conference in the eastern city of Lviv, during which he also assured the Ukrainian leader that Ankara was a firm ally.
“While continuing our efforts to find a solution, we remain on the side of our Ukraine friends,” Erdogan said.
Guterres said he was “gravely concerned” about the situation at the plant and that it had to be demilitarized, adding: “We must tell it like it is — any potential damage to Zaporizhzhia is suicide.”
Erdogan, who has major geopolitical rivalries with the Kremlin but maintains a close working relationship with President Vladimir Putin, met with the Russian leader less than two weeks ago in the Black Sea resort of Sochi.
The Turkish leader and Guterres were key brokers of a deal inked in Istanbul last month allowing for the resumption of grain exports from Ukraine after Russia’s invasion blocked essential global supplies.
The success of the grain deal contrasts with failed peace talks early in the war, and Zelensky on Thursday ruled out peace with Russia unless it withdrew its troops from Ukraine.
He told reporters he was “very surprised” to hear from Erdogan that Russia was “ready for some kind of peace,” adding: “First they should leave our territory and then we’ll see.”
Fighting raged along the front on Thursday and early Friday.
Bombardments across the city of Kharkiv and nearby Krasnograd left at least six dead and 25 injured on Thursday, just one day after Russian bombardments killed 13 in the country’s second-largest urban center.
Early-morning shelling on Friday also targeted the city of Nikopol, according to a local military official, while the mayor of Mykolayiv reported “massive explosions” there around the same time.
Fighting in recent weeks has focused around the southern region of Zaporizhzhia and the nuclear facility there, and Zelensky called on the UN to ensure security at the plant after direct talks with Guterres, while also blaming Russia for “deliberate” attacks on the facility.
Russian forces took the plant in March and uncertainty surrounding it has fueled fears of a nuclear incident.
Moscow dismissed Ukrainian allegations Thursday, saying its forces had not deployed heavy weapons at Zaporizhzhia and accusing Kyiv of preparing a “provocation” there that would see Russia “accused of creating a man-made disaster at the plant.”
Kyiv, however, insisted it was Moscow that was planning a “provocation” at the facility.
Ukrainian military intelligence said in a Facebook post on Thursday night that it had received reports that all but a “small part of operational personnel” at the plant had been ordered to stay home on Friday, while representatives of Russia’s state nuclear operator “actually left the territory” of the facility.
“Considering the number of weapons that are currently located on the territory of the nuclear plant, as well as repeated provocative shelling, there is a high probability of a large-scale terrorist attack at the nuclear facility,” it said.


Xi, Putin to attend G20 summit in Bali, says Indonesia’s Widodo — Bloomberg News

Xi, Putin to attend G20 summit in Bali, says Indonesia’s Widodo — Bloomberg News
Updated 19 August 2022

Xi, Putin to attend G20 summit in Bali, says Indonesia’s Widodo — Bloomberg News

Xi, Putin to attend G20 summit in Bali, says Indonesia’s Widodo — Bloomberg News

Chinese and Russian leaders Xi Jinping and Vladimir Putin will attend the G20 summit in Bali in November, Indonesian President Joko Widodo told Bloomberg News on Thursday.
“Xi Jinping will come. President Putin has also told me he will come,” Jokowi, as he is popularly known, told the news agency.
The Chinese foreign ministry did not immediately respond to a Reuters request for comment. Indonesia presidential palace officials did not immediately respond to requests for comment.
Indonesia is chairing the Group of 20 major economies and has faced pressure from Western countries to withdraw its invitation to Putin over his country’s invasion on Ukraine, which his government calls a “special military operation.”
Jokowi has sought to position himself as mediator between the warring countries, and has traveled to meet both Ukraine’s and Russia’s presidents. This week, Jokowi said both countries have accepted Indonesia as a “bridge of peace.”
Leaders of major countries, including US President Joe Biden, are set to meet in Indonesia’s resort island of Bali in November. Indonesia has also invited Ukrainian leader Volodymyr Zelensky.


UK spy chief says Putin is losing information war in Ukraine — The Economist

UK spy chief says Putin is losing information war in Ukraine — The Economist
Updated 19 August 2022

UK spy chief says Putin is losing information war in Ukraine — The Economist

UK spy chief says Putin is losing information war in Ukraine — The Economist

Russia has failed to gain ground in cyberspace against Ukraine almost six months after its invasion of the country, the head of Britain’s GCHQ intelligence service said on Friday.
Jeremy Fleming, the intelligence head, in an op-ed in The Economist, wrote that both countries have been using their cyber capabilities in the war in Ukraine.
“So far, president Putin has comprehensively lost the information war in Ukraine and in the West. Although that’s cause for celebration, we should not underestimate how Russian disinformation is playing out elsewhere in the world,” Fleming wrote.
“Just as with its land invasion, Russia’s initial online plans appear to have fallen short. The country’s use of offensive cyber tools has been irresponsible and indiscriminate.”
Fleming said Russia had deployed WhisperGate malware to destroy and deface Ukrainian government systems.
He also said Russia has used the same playbook before on Syria and the Balkans and said online disinformation is a major part of Russia’s strategy. However, the GCHQ has been able to intercept and to provide warnings in time, he said.
Without going into much detail, Fleming said the UK’s National Cyber Force could respond to Russia by deploying a UK military unit that employs offensive cyber tools.