Indonesia is launching the ‘Work From Bali’ program to revive the Island’s battered economy – but will it go far enough?
The Indonesian Ministry of Tourism and Creative Economy has announced their upcoming ‘Work From Bali’ scheme, which will allow public servants to live and work in Nusa Dua. The program will send 25 per cent of Indonesian public servants from seven different Indonesian ministries to live and work from hotels in Nusa Dua. This comes in an effort to boost tourism on the island.
“We hope that with the arrival of government and state-owned company employees, the gears of Bali’s economy will start moving.”
Hermin Esti Setyowati, ministry of Tourism and Creative Economy
As Bali suffers, does ‘Work From Bali’ go far enough?
The COVID pandemic hasn’t been easy for any of us, but it’s been tougher on Bali than most. International travel bans brought tourism in Bali to a jarring halt.
Official figures released by the Indonesian government suggest over 80% of Balinese locals have been impacted as a result of the island’s COVID tourism slump.
The tourism industry is crucial to Bali’s economy, with many locals relying on international guests for income. In 2019, 6.3 million international tourists visited the island. In 2020, that number dropped to about 1 million.
This year, the island welcomed just 25 foreigners from January to March. Last year 1.1 million tourists visited the island in the same period. The pandemic has seen more than 4.3 million Balinese people out of work.
Kuta’s streets were once bustling with tourists. Now, they’re unrecognisable.
Will the scheme help the people who need it?
Australian expat Amanda runs the ‘Let’s Help Bali’ Facebook group, which has almost 14,000 members. She explains that many Balinese locals leave their villages to get jobs in tourism, which are more often than not in the city.
“This means the impact doesn’t just affect that immediate person but the whole family who rely on that income,” she told Ticker NEWS.
Amanda says she thinks the scheme “will help very few people”, and the Indonesian government needs to reopen Bali’s borders to support locals in a meaningful way.
“Until the borders are open, I don’t see much changing here,” she said.
While support for the program isn’t universal, it appears as though everyone can agree that Bali is suffering. Ketut Ardana, Vice Chairman of the Bali Tourism Board, says the Work From Bali program is a step in the right direction, it doesn’t go far enough.
Health risks of COVID
Despite these efforts to reopen Bali to tourists, COVID remains an issue on the island with almost 2 million total cases, and over 500 active cases.
Nusa Dua is one of Indonesia’s three “green zones,” where the vaccination roll-out has been prioritised. Local newspapers have reported more than 8,000 staff in Nusa Dua, have received a second dose of the vaccine.
Ketut Ardana says he’s “not worried” about the potential health risks of opening borders for travel.
“We are ready and safe to receive tourists,” he said.
Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.
Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.
Gold prices have fallen sharply, dropping over two per cent to below $4,000 per ounce, as investors took profits following the announcement of a Gaza ceasefire agreement. The deal between Israel and Hamas triggered a shift away from safe-haven assets, with silver and platinum also sliding.
The U.S. dollar strengthened as markets responded to the news, making precious metals more expensive for foreign buyers. Analysts say the pullback is likely temporary, with long-term demand for gold and silver expected to remain strong amid global instability and rising debt levels.
Market experts warn that volatility will continue as geopolitical tensions persist, even as short-term optimism grows around the Middle East peace process.
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In Short:
– Gold prices fell over 2% to below $4,000 per ounce due to a stronger dollar and profit-taking.
– Silver eased to $48.93 per ounce, influenced by market activity and ongoing high demand despite supply issues.
Gold prices fell over 2% on Thursday, dropping below $4,000 per ounce. The decline followed a strong rise earlier in the year and was influenced by a stronger dollar and profit-taking after a ceasefire deal between Israel and Hamas.Spot gold decreased to $3,959.48 per ounce, while U.S. gold futures for December delivery settled at $3,972.6.
Silver also experienced a slight decline, easing from its record high to $48.93 per ounce. The dollar index increased, making gold more expensive for overseas buyers.
Traders noted increased activity in the market as profit-taking coincided with reduced tensions in a historically volatile region.
An independent metals trader stated that while gold and silver may need to consolidate further, the underlying demand drivers remain intact.
Market Overview
Gold surpassed $4,000 per ounce on Wednesday, reaching $4,059.05, boosted by geopolitical tensions and strong demand from central banks. The asset has gained about 52% this year, reflecting a significant increase due to various economic factors. The U.S. central bank’s decision to cut rates in September also contributed to the rally, with expectations for future cuts in the coming months.
Silver’s price increase of 69% this year is tied closely to similar economic trends impacting gold. Notably, liquidity issues in the silver market are being exacerbated by strong demand and tight supply conditions. Other precious metals, such as platinum and palladium, also saw declines during this period.
In Short:
– North Korean hackers stole over $2 billion in cryptocurrency in 2025, nearly tripling last year’s total.
– A shift to social engineering tactics has led to increased targeting of high-net-worth individuals for cyber attacks.
North Korean hackers have reportedly stolen over $2 billion in cryptocurrency assets in 2025, setting a record with three months still left in the year.
Data from blockchain analytics firm Elliptic indicates that this amount nearly triples the total stolen last year, accounting for approximately 13% of North Korea’s estimated GDP and raising the regime’s total crypto theft to over $6 billion since 2017.
A significant portion of the 2025 theft is attributed to the February hack of cryptocurrency exchange Bybit, which amounted to $1.46 billion.
The FBI has linked this breach to state-sponsored North Korean hackers, who exploited weaknesses in Bybit’s wallet management system. More than 30 additional cyber attacks have also been associated with North Korea this year, including notable breaches at LND.fi and WOO X.
Shift In Tactics
A shift in methodology among North Korean hackers has been observed, as they now focus on social engineering rather than technical exploits. According to Elliptic, the primary vulnerability lies with individuals rather than technology.
High-net-worth individuals and corporate executives are increasingly targeted due to their relatively weaker security measures.
The hackers utilise deceptive tactics, including phishing schemes and fake job offers, to access private cryptocurrency wallets. Intelligence reports suggest that the stolen funds are used to finance North Korea’s nuclear programmes.
The regime has also improved its money laundering techniques by employing various cryptocurrencies and mixing methods to obscure fund origins. Blockchain analysts are actively tracking these stolen assets, with notable progress achieved in identifying recoverable funds.