Population: 652Public lands: Chattahoochee National Forest, Wolf Creek Falls at Vogel State Park, Desoto Falls, Raven Cliff Falls, Anna Ruby Falls, Vogel State Park,Outdoor Highlights: hiking the Appalachian Trail, waterfall viewing, paddling, hiking and biking Brasstown Bald
The rupiah exchange rate strengthened significantly against the US dollar on Thursday, allowing the central bank to reduce market intervention as it expected foreign exchange (forex) reserves to increase over this week.The rupiah was trading at Rp 15,880 to the dollar Thursday, up 2.28 percent from the previous close, according to Bloomberg data.Bank Indonesia (BI) governor Perry Warjiyo said the rupiah exchange rate was still undervalued even after the strong appreciation, adding that the central bank predicted the rupiah would strengthen further to 15,000 against the US dollar by the end of 2020. Foreign investors sold Rp 148.76 trillion (US$9.35 billion) in Indonesian assets, including Rp 135.08 trillion in government bonds and Rp 9.71 trillion in stocks, BI data shows. The central bank has purchased Rp 172.5 trillion worth of government bonds, including Rp 166.2 trillion from foreign investors in the secondary market, to stabilize the currency.“We see now that the strengthening rupiah was due to market dynamics,” Perry said. “This reduces BI’s need to intervene as our intervention has been declining recently.”Read also: BI expects rebound in foreign capital flows later this yearOn that basis, the central bank expects the country’s forex reserves to reach $125 billion this week as uncertainties surrounding financial markets start to subside.The reserves dropped $9.4 billion in March to $121 billion as BI stepped up market intervention to stabilize the rupiah exchange rate, which was volatile throughout the month.The government’s plan to raise funds from dollar-denominated bonds was also expected to help bulk up the country’s reserves, Perry added.The newly enacted Presidential Regulation (Perpres) No. 54/2020 on the 2020 state budget stipulates a steep increase in debt issuance to Rp 1 quadrillion this year from the initially targeted Rp 351.9 billion as the government seeks to fund the fight against the pandemic.The government plans to offer sovereign debt papers worth Rp 549.6 trillion, an increase from the initial Rp 389.3 trillion, while also planning to raise Rp 450 trillion in “pandemic bonds”.The Finance Ministry has raised $4.3 billion in dollar-denominated bonds this week, which could boost the country’s forex reserves by between $4 billion and $125 billion in the next week, Perry said.Read also: Bank Indonesia strikes $60b repo facility deal with US Fed as forex reserves drop“The conversion of dollar-denominated bonds into rupiah-denominated funds to be used by the fiscal authority to finance stimulus would increase the central bank’s foreign exchange reserves,” economists from the University of Indonesia Institute for Economic and Social Research (LPEM UI) wrote in a research note.According to the institution’s calculations, the issuance of Rp 450 trillion in “pandemic bonds” would increase the central bank’s foreign reserves by $15 billion if the debt papers were denominated in dollars.“Meanwhile, if all the pandemic bonds are denominated in rupiah, then the increase of foreign reserves will only reach $9 billion,” the researchers said.Topics : “If we measure the fundamentals of the rupiah exchange rate including against inflation, the current account deficit and interest rate differentials onshore and abroad, the rupiah is still undervalued and has the tendency to strengthen,” Perry said at a livestreamed media briefing on Thursday.Read also: ‘This is not a normal time’: BI to break barriers in COVID-19 battleDespite the jump, the rupiah remains one of the worst-performing Asian currencies as it has lost more than 14 percent of its value against the greenback so far this year after foreign investors dumped Indonesian assets following the novel coronavirus pandemic.The central bank has stepped up intervention, especially in March, in the spot foreign exchange and domestic non-deliverable forward markets. It has bought bonds dumped by foreign investors to anchor the value of the rupiah.
Chelsea are set to confirm the return of Jose Mourinho.The 50-year-old, who won two Premier League titles, two League Cups and the FA Cup during his first spell as the club’s manager, will be in London today to finalise the deal.He was widely expected to return to Chelsea this summer and confirmation of his appointment will delight Blues fans.Hugely popular among the Stamford Bridge faithful, Mourinho’s three-year spell at Chelsea ended in 2007.Since then he has led Inter Milan to two Italian titles and the Champions League – a trophy he also won with Porto in 2004 – and more recently managed Real Madrid.Real secured the Spanish title under him last year and recently won this season’s Copa del Rey.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 Follow West London Sport on TwitterFind us on Facebook
Accounting for ‘source’ and ‘site’ energy useThe underlying issue, and DOE’s updated thinking, rests on some rather arcane accounting treatment that distinguishes between “site” energy and “source” energy. Site energy is the amount of electricity used at a home or business (i.e., the kilowatt-hours consumed by lights, appliances and equipment); source energy is the amount of energy used at power plants to generate and deliver that electricity to the site. What’s next?There are a number of other issues that remain to be addressed in improving energy accounting, several of which are raised but not answered in DOE’s paper. These include the appropriate treatment of other low-emissions generation, e.g., nuclear and fossil fuel power plants that use carbon capture and storage technology; consideration of marginal rather than average power plants (marginal power plants are those that are affected by an increase or decrease in load, and don’t necessarily have the same carbon intensity as the average generating fleet); avoiding stakeholder confusion and ensuring continuity with historical data when shifting to a more appropriate methodology; choosing the right source accounting methodology for the decision at hand; and thinking about how to weigh up these issues in policy-making.It would be great if DOE would embark on a broader process to work through some of those important issues, something that NRDC has previously proposed. The constructive contributions of various stakeholders in the current effort indicate that such a process would be valuable and productive.And more broadly, perhaps it’s time to consider adopting metrics that get closer to the core of society’s interests of superior consumer and business impact, reducing carbon and other harmful emissions, cost, reliability, and security. That would surely be a longer-term transition, as much of federal energy policy revolves around energy use and energy savings as key metrics, with a very good track record of success.Finally, the importance of getting these accounting items right will only grow over time as the nation’s energy mix becomes cleaner, leading to a deeply decarbonized, and economically vibrant energy future. DOE has taken a great step in that direction. Because only about 30% of the fuel that goes into the average fossil fuel power plant on the nation’s grid is ultimately delivered as electricity to a consumer’s site (with the rest lost as waste heat at the power plant or in the grid), source energy accounting for fossil fuel plants indicates energy use that is about three times higher than site energy accounting.New high efficiency natural gas power plants, while not nearly as low-emitting as wind or solar, are far more efficient than the average units on the grid and a big step forward, converting closer to 50% of the fuel into useful delivered electricity.Accounting for source energy of different energy options can be informative for good policy; e.g., in comparing the amount of energy used to make hot water for households with either an electric or natural gas water heater, it makes sense to compare the amount of energy that would be used to deliver the natural gas to the water heater and operate it, with the energy that would be used in the grid to make the electricity used in the electric water heater.Ignoring the fact that about two-thirds of the fossil fuel energy used in making electricity is lost as waste heat in the power plant and in the transmission and distribution system would give the incorrect impression that an electric water heater uses much less energy than a gas one. Furnace efficiency standards: source accounting might matterDOE’s current standards-setting process for household natural gas furnaces is an excellent example of where proper source accounting could matter. In developing the proposed standard, DOE’s detailed analysis found that while a stronger standard will deliver great consumer and environmental benefits overall, some fraction of households that currently use natural gas furnaces would switch to electric heating, due to a combination of installation challenges in special circumstances and higher up-front costs.Using its traditional source accounting approach, DOE estimated that while the stronger standard would save about 7 quads (quadrillion Btu) of natural gas energy, electricity used for heating would increase by about 4.3 quads, resulting in a net savings of 2.8 quads.However, if DOE had used an updated source accounting methodology and the assumption that 50% of generation is from non-fossil fuel power plants sources by 2040 (e.g., including wind, solar, hydro, and nuclear), the 7 quads of natural gas energy savings would be offset by closer to only 3 quads of increased fossil fuel used for generating electricity, for a net savings of 4 quads.So would the standard save 2.8 quads or 4 quads of energy? That’s a big difference, and might be enough to sway policy-makers to consider a different choice.Of course, the standards-setting process involves balancing a host of issues — notably including consumer, environmental, and business impacts — and not just total energy savings; there’s not a direct link between the estimated total savings and the ultimate policy decision.Further, while the furnace standards highlight the growing importance of this accounting issue, it makes sense to start thinking about the implications for future policy, rather than suggest a significant and sudden change in the current standards process. A good next step from DOEDOE has proposed a sensible, transparent methodology that it calls “captured energy” for setting the source energy of renewable electricity generation. The captured energy methodology assigns a source energy value to renewable electricity that is exactly equal to the electricity produced, with no losses other than those in transmission and distribution from the generator to the site. This approach is a big improvement.Notably, while the impact of adopting the captured energy methodology is relatively small under today’s energy mix (i.e., with relatively little wind and solar compared to that which is anticipated by 2040), it will grow considerably over the coming decades.For example, DOE’s illustrative example shows that the more sensible captured energy methodology could reduce the estimated grid average source energy by about 30%. And to be clear, a major increase in renewable electricity is already on the way due to improving economics and policies such as strong renewable portfolio standards adopted in several states. Robin Roy is a consultant for the National Resource Defense Council. This post was first posted at the NRDC website. By ROBIN ROYHow much does it matter if energy efficiency programs like Energy Star or appliance energy standards save electricity generated by renewable resources like wind and solar, rather than from fossil fuel power plants? Certainly from the perspective of reducing carbon pollution, there’s a strong case that saving renewable electricity is not as valuable as saving energy generated from burning fossil fuels.As the role of renewable electricity in the nation’s electricity supply grows, this question will become increasingly important to think through.Recognizing this, the U.S. Department of Energy (DOE) took a great step forward to update its thinking and approach, with a report released in October. NRDC joined with the American Public Power Association, the Edison Electric Institute, and the National Rural Electric Cooperatives Association to request that DOE rethink these issues and also joined in commenting on DOE’s initial thoughts earlier this year.DOE’s efforts were further aided by thoughtful input from the natural gas industry, which also has great interest in getting the accounting right. The overall result at DOE shows that constructive, collaborative efforts can deliver real progress. RELATED ARTICLES Understanding Energy UnitsOur All-Renewable Energy FutureShould the DOE Increase Furnace Efficiency Standards?Refrigerators Get New Efficiency StandardsNew Furnaces Will Be More Efficient A key challengeWhile using source accounting makes sense, the key challenge is that DOE has traditionally used “fossil fuel equivalency” when accounting for renewable electricity. In this approach, the source value assigned to renewable electricity is based on the average source energy of all fossil fuel power plants on the grid.That’s entirely artificial, and suggests that a kWh of clean wind or solar power raises the same concern as a kWh from the oldest, least efficient, dirtiest fossil fuel power plant — and that’s just not right. As the supply of clean renewable electricity increases over the coming decades, the fossil fuel equivalency approach would become increasingly misleading and unhelpful for policymakers.So what’s the right number to use? It might be possible to come up with a technically accurate source number for wind and solar (e.g., relating to the fraction of wind energy blowing across the countryside that is captured by a wind turbine, or the fraction of sunlight that is converted into electricity in a photovoltaic panel). However, to be clear, that source accounting approach doesn’t have a bearing on what society cares about, e.g., the carbon emissions of those generators, so that wouldn’t be of much use or interest for policy-making, either.
PBA IMAGESBouncing back from a rare loss in the PBA Governors’ Cup, Barangay Ginebra on Saturday night notched a win to reclaim top ranking—which Tim Cone won’t mind losing again.“I don’t care about being No. 1, 2, 3 or 4,” Cone said after an 89-82 victory over Rain or Shine that sewed up a twice-to-beat advantage for the Kings. “[Being No. 1] just adds extra pressure on you. We want to win as many games as we can and if we end up No. 1, that’s great.ADVERTISEMENT BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight Blackwater suits up new acquisition Allein Maliksi when it clashes with back-to-the-wall GlobalPort in the 4:30 p.m. game. E.T. returns to earth, reunites with grown-up Elliott in new ad “But that’s not our goal, it’s top four,” he said after getting 28 points and 10 rebounds from import Justin Brownlee at Mall of Asia Arena in Pasay where the Kings picked up win No. 8 in 10 games. “It was just really important for us to get that eighth win.”Ginebra will play TNT KaTropa to close out its elimination round schedule, and a win in that Sept. 23 game would most likely give the Kings top ranking and the lightest first-round assignment in the playoffs.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutCone said the team was still smarting from a loss to San Miguel Beer a few nights ago.“We need to get better to reach their level,” he said. “We’re just not there yet.” Brace for potentially devastating typhoon approaching PH – NDRRMC LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary The Grand Slam-seeking Beermen formalized entry into the playoffs earlier by squeaking past KIA Picanto, 118-112.June Mar Fajardo scored 41 points and had 17 rebounds, playing the entire second half and towing the Beermen to their sixth win in nine outings.Fajardo scored 20 of his total in the fourth period to send KIA to its 10th straight loss.Star and TNT KaTropa tangle in a crucial match Sunday at 6:45 p.m. at Smart Araneta Coliseum where the Hotshots debut a third import in Iceland’s Kristofer Acox.The Texters will be gunning to improve a 6-3 card and stay well within top four contention, while the Hotshots, with a 5-3 record, will be shooting for a ticket to the next round.ADVERTISEMENT Frontrow holds fun run to raise funds for young cancer patients Read Next Nonong Araneta re-elected as PFF president LATEST STORIES View comments WATCH: Streetboys show off slick dance moves in Vhong Navarro’s wedding Mondilla gets his redemption MOST READ Fire hits houses in Mandaluyong City Don’t miss out on the latest news and information. Jake Cuenca, Gerald Anderson talk about training for triathlon PLAY LIST 00:52Jake Cuenca, Gerald Anderson talk about training for triathlon00:50Trending Articles00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games
Abdul Sawat. Photo by Tristan Tamayo/ INQUIRER.netJose Rizal University formally booked its Final Four ticket, outlasting Mapua, 62-58, Tuesday in the NCAA Season 93 men’s basketball tournament at Filoil Flying V Centre in San Juan.The Heavy Bombers improved their record to 11-6, sealing the third spot to join Lyceum and San Beda, which have already clinched seats in the playoffs.ADVERTISEMENT For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. Tey Teodoro fired 19 points despite shooting 1-of-7 from beyond the arc, to go with two rebounds and an assist.Jed Mendoza chipped in 10 markers, three boards, and three dimes, while Abdul Sawat just missed out on a double-double with his nine points and seven rebounds.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutThough the victory pushed JRU to the postseason, coach Vergel Meneses once again voiced his displeasure following what he felt was a lackluster showing from his boys.“Honestly, I’m not happy about the win. They don’t want to follow instructions, they thought we can beat them all on offense, and that’s what happened,” he said. The PBA great, then, set this game as a challenge for his wards to bounce back, especially as the Heavy Bombers take on the league-leading Pirates in their final elimination game on Friday.“That’s my challenge to them. We don’t want to enter the Final Four with a loss,” he said.Teodoro gave JRU a seven-point edge, 58-51, midway in the payoff period, but the Cardinals slowly chipped away the lead and got it down to as low as two, 58-56, courtesy of two freebies from Andoy Estrella.Luckily, Ervin Grospe and Jed Mendoza scored cushion-building baskets in the final 3:27 before the Heavy Bombers defense held strong in the end game.Almel Orquina carried Mapua (3-13) with 14 points and three rebounds, while Cedric Pelayo had 11 markers and five boards.ADVERTISEMENT Kammuri turning to super typhoon less likely but possible — Pagasa Fire hits houses in Mandaluyong City Fajardo still leads Govs’ Cup BPC race after semis LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary Read Next Frontrow holds fun run to raise funds for young cancer patients BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight LATEST STORIES Typhoon Kammuri accelerates, gains strength en route to PH MOST READ Nonong Araneta re-elected as PFF president The Scores:JRU 62 – Teodoro 19, Mendoza 10, Sawat 9, Grospe 8, Lasquety 6, Bordon 4, Abdulrazak 2, Poutouochi 2, David 2, Dela Virgen 0.MAPUA 58 – Orquina 14, Pelayo 11, Bunag 10, Victoria 8, Estrella 8, Raflores 6, Aguirre 1, Gabo 0, Jimenez 0.Quarters: 21-17, 36-32, 52-47, 62-58. Trump talks impeachment while meeting NCAA athletes PLAY LIST 01:07Trump talks impeachment while meeting NCAA athletes00:50Trending Articles00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Brace for potentially devastating typhoon approaching PH – NDRRMC Don’t miss out on the latest news and information. View comments
Indian archer Jayanta Talukdar got a 0-6 hammering from America’s Jacob Wukie in the opening men’s individual elimination round at the London Olympics on Tuesday.The archers’ ordinary show at the Olympics continued with Jayanta being outplayed by a superior opponent at Lord’s. The American shot six ten pointers in the maximum nine arrows while Jayanta was able to hit the bulls-eye just once.The writing was on the wall in the first set in which Jayanta shot a five before losing it 22-27. Jayanta’s teammate Rahul Banerjee and Tarundeep Rai play their individual matches later in the day.They bowed out of the team event after losing their opening eliminator to Japan.
About the authorPaul VegasShare the loveHave your say Ref chiefs tell Chelsea: Kane penalty was legitby Paul Vegas10 months agoSend to a friendShare the loveRef chiefs insist Harry Kane’s penalty was legit for Tottenham’s Carabao Cup semifinal victory over Chelsea.Directors from PGMOL – Professional Game Match Officials Limited – have fully backed referee Michael Oliver and VAR official Graham Kavanagh over the Harry Kane penalty decision in Tuesday’s Carabao Cup semi-final first leg at Wembley.The Mirror reports they insist the picture Chelsea offered post-match as proof the Tottenham striker was offside in the lead-up to the penalty incident that produced the only goal of the night was misleading as the ball is blurred in it, and therefore had already been played.PGMOL uses VAR officials at the Premier League’s in-house broadcasting facility at Stockley Park alongside Hawkeye technology which also showed Kane was onside.Prem bosses could use the Hawkeye pictures in stadiums next season to avoid another Kane confusion episode.