Subdued maten

SYDNEY: Capital has been flowing out of emerging economies around the world, causing currencies and financial markets to fall. While tightening global liquidity was the initial catalyst, the threat from Donald Trump’s trade war and fear that "contagion" might spread from Turkey and Argentina have added fuel to the fire. Indonesia has found itself at the centre of such concerns in Asia. The Indonesian rupiah has fallen about 10 per cent since the start of the year and is now reaching lows not seen since the Asian Financial Crisis. This has prompted much concern in Jakarta, where the scars from that crisis still run deep and many know all too well that "contagion" is a real thing. Policymakers have thus reacted strongly, happy to crimp economic growth for the sake of greater stability. READ: Asian equities dive as emerging market fears add to trade woes CONCERNS OF CONTAGION OVERBLOWN But is Indonesia really at risk of "contagion"? The rupiah’s fall to date has not … [Read more...] about Commentary: Sliding Indonesia rupiah causes Jakarta jitters

COLOGNE: German police said on Monday (Oct 15) that they had subdued and detained a man who took a woman hostage in a pharmacy in Cologne's central train station. "The perpetrator is under control. Police measures are continuing," Cologne police wrote on Twitter just after 3pm after commandos had stormed the shop. "A female hostage has been lightly wounded and is being cared for," they added, calling on the public to keep their distance from the area. The hostage-taker also suffered injuries, a police spokesperson said, adding that the man's motives were not yet known. An AFP correspondent at the scene said he heard two stun grenade explosions as police stormed and secured the pharmacy. Several heavily armed officers from a special response unit were seen immediately afterwards running across the Breslauer Platz square, on the opposite side of the tracks from the city's famous twin-spired cathedral. Earlier on Monday, eyewitnesses had reported hearing shots and possible … [Read more...] about German police seize man who took woman hostage in Cologne train station