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Global 2% rise in CO2 ‘giant leap backwards for humankind’

The carbon dioxide emissions that drive global warming, flat since 2014, are set to rise two percent this year, dashing hopes they had peaked, scientists reported at UN climate talksMonday. "This is very disappointing," said Corinne Le Quere, director of the Tyndall Centre for Climate Change Research at the University of East Anglia and lead author of a major study detailing the findings. "With global CO2 emissions from human activities estimated at 41 billion tonnes for 2017, time is running out on our ability to keep warming below two degrees Celsius (3.6 degrees Fahrenheit), let alone 1.5 C." The 196-nation Paris Agreement, adopted in 2015, calls for capping global warming at...Keep on reading: Global 2% rise in CO2 ‘giant leap backwards for humankind’.....»»

Category: newsSource: inquirer inquirerNov 13th, 2017

Scientists warn of ‘giant leap backward’ at climate talks

Carbon dioxide emissions are set to rise this year after a three-year pause, scientists said at UN climate talks Monday (Tuesday in Manila), warning that "time is running out", even as White House officials used the occasion to champion the fossil fuels that drive global warming. CO2 emissions, flat since 2014, were forecast to rise two percent in 2017, dashing hopes they had peaked, scientists reported at 12-day negotiations in the German city of Bonn ending Friday. "The news that emissions are rising after a three-year hiatus is a giant leap backward for humankind," said Amy Luers, a climate policy advisor to Barack Obama and executive director of Future Earth, which co-spons...Keep on reading: Scientists warn of ‘giant leap backward’ at climate talks.....»»

Category: newsSource:  inquirerRelated NewsNov 14th, 2017

ZTE woes loom as trade tensions rise

WASHINGTON — With a major Chinese smartphone maker on the rocks following US sanctions, the trade spat between Washington and Beijing appears to be taking a turn for the worse for tech firms in the two global economic powerhouses. Chinese telecom giant ZTE said in the past week its major operations had “ceased” following last […] The post ZTE woes loom as trade tensions rise appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 13th, 2018

Alibaba says annual net profit up 47% in 2017/2018

Beijing — Chinese e-commerce giant Friday announced a massive 47 percent leap in net profit for the fiscal year 2017/2018, helped by a rise in smartphone and tablet transactions on its shopping platform. Profit climbed to 63.985 billion yuan ($10.2 billion), boosted by a 60 percent rise in revenue from its core business, the online […] The post Alibaba says annual net profit up 47% in 2017/2018 appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 4th, 2018

JG Summit’s 2017 profit jumps 169%

Gokongwei-led JG Summit Holdings grew its 2017 net profit by 169 percent to P29.37 billion from year-ago level, when its earnings were weighed down by impairment losses from its investment in telecommunication giant PLDT Inc. Excluding nonoperating and nonrecurring items, JG Summit's consolidated core net income last year hit P29.56 billion, relatively flat from the 2016 level, as the rise in fuel prices gnawed at the earnings of the airline business. This was offset by the double-digit income growth in the petrochemicals business and rise in equity earnings from associates particularly, United Industrial Corp. Ltd. of Singapore, Manila Electric Co. and Global Business Power Corp. ...Keep on reading: JG Summit’s 2017 profit jumps 169%.....»»

Category: newsSource:  inquirerRelated NewsApr 13th, 2018

PayPal bullish on PH as freelance work grows

Freelancing is on the rise in the Philippines and those making a living from contract-based work are optimistic about job opportunities, global electronics payments giant Paypal said on Tuesday. The country, Paypal officials said in a briefing, currently has around 1.5 million freelancers and has “among the largest number of freelance service providers relative to [...] The post PayPal bullish on PH as freelance work grows appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsMar 28th, 2018

As Olympics near, South Korea agonizes over post-Games costs

By Kim Tong-Hyung, Associated Press GANGNEUNG, South Korea (AP) — South Korean officials have ruled out turning a state-of-the-art Olympic skating arena into a giant seafood freezer. Other than that, not much is certain about the country's post-Winter Games plans for a host of expensive venues. As officials prepare for the games in and around the small mountain town of Pyeongchang, there are lingering worries over the huge financial burden facing one of the nation's poorest regions. Local officials hope that the Games will provide a badly needed economic boost by marking the area as a world-class tourist destination. But past experience shows that hosts who justified their Olympics with expectations of financial windfalls were often left deeply disappointed when the fanfare ended. This isn't lost on Gangwon province, which governs Pyeongchang and nearby Gangneung, a seaside city that will host Olympic skating and hockey events. Officials there are trying hard to persuade the national government to pay to maintain new stadiums that will have little use once the athletes leave. Seoul, however, is so far balking at the idea. The Olympics, which begin Feb. 9, will cost South Korea about 14 trillion won ($12.9 billion), much more than the 8 to 9 trillion won ($7 to 8 billion) the country projected as the overall cost when Pyeongchang won the bid in 2011. Worries over costs have cast a shadow over the games among residents long frustrated with what they say were decades of neglect in a region that doesn't have much going on other than domestic tourism and fisheries. "What good will a nicely managed global event really do for residents when we are struggling so much to make ends meet?" said Lee Do-sung, a Gangneung restaurant owner. "What will the games even leave? Maybe only debt." ___ TEARING THINGS DOWN The atmosphere was starkly different three decades ago when grand preparations for the 1988 Seoul Summer Games essentially shaped the capital into the modern metropolis it is today. A massive sports complex and huge public parks emerged alongside the city's Han River. Next came new highways, bridges and subway lines. Forests of high-rise buildings rose above the bulldozed ruins of old commercial districts and slums. The legacy of the country's second Olympics will be less clear. In a country that cares much less now about the recognition that large sporting events bring, it will potentially be remembered more for things dismantled than built. Pyeongchang's picturesque Olympic Stadium — a pentagonal 35,000-seat arena that sits in a county of 40,000 people — will only be used for the opening and closing ceremonies of the Olympics and Paralympics before workers tear it down. A scenic downhill course in nearby Jeongseon will also be demolished after the games to restore the area to its natural state. Fierce criticism by environmentalists over the venue being built on a pristine forest sacred to locals caused construction delays that nearly forced pre-Olympic test events to be postponed. Gangwon officials want the national government to share costs for rebuilding the forest, which could be as much as 102 billion won ($95 million). ___ NO FISH Despite more than a decade of planning, Gangwon remains unsure what to do with the Olympic facilities it will keep. Winter sports facilities are often harder to maintain than summer ones because of the higher costs for maintaining ice and snow and the usually smaller number of people they attract. That's especially true in South Korea, which doesn't have a strong winter sports culture. Not all ideas are welcome. Gangwon officials say they never seriously considered a proposal to convert the 8,000-seat Gangneung Oval, the Olympic speed skating venue, into a refrigerated warehouse for seafood. Officials were unwilling to have frozen fish as part of their Olympic legacy. Gangwon officials also dismissed a theme park developer's suggestion to make the stadium a gambling venue where people place bets on skating races, citing the country's strict laws and largely negative view of gambling. A plan to have the 10,000-capacity Gangneung Hockey Center host a corporate league hockey team fell apart. Even worse off are Pyeongchang's bobsleigh track, ski jump hill and the biathlon and cross-country skiing venues, which were built for sports South Koreans are largely uninterested in. After its final inspection visit in August, the International Olympic Committee warned Pyeongchang's organizers that they risked creating white elephants from Olympic venues, though it didn't offer specific suggestions for what to do differently. Cautionary tales come from Athens, which was left with a slew of abandoned stadiums after the 2004 Summer Games that some say contributed to Greece's financial meltdown and Nagano, the Japanese town that never got the tourism bump it expected after spending an estimated $10.5 billion for the 1998 Winter Games. Some Olympic venues have proved to be too costly to maintain. The $100 million luge and bobsled track built in Turin for the 2006 games was later dismantled because of high operating costs. Pyeongchang will be only the second Olympic host to dismantle its ceremonial Olympic Stadium immediately after the games — the 1992 Winter Olympics host Albertville did so as well. ___ 'MONEY-DRINKING HIPPOS' Gangwon has demanded that the national government in Seoul pay for maintaining at least four Olympic facilities after the Games — the speed skating arena, hockey center, bobsleigh track and ski jump hill. This would save the province about 6 billion won ($5.5 million) a year, according to Park Cheol-sin, a Gangwon official. But the national government says doing so would be unfair to other South Korean cities that struggled financially after hosting large sports events. Incheon, the indebted 2014 Asian Games host, has a slew of unused stadiums now mocked as "money-drinking hippos." It would also be a hard sell to taxpayers outside of Gangwon, said Lee Jae-soon, an official from the Ministry of Culture, Sports and Tourism. Unlike the 1988 Olympics and the 2002 World Cup, which were brought to South Korea after bids driven by the national government, the provincial government led the bid for the Pyeongchang games and it did so without any commitment from Seoul over footing the bill. Under current plans, Gangwon will be managing at least six Olympic facilities after the games. These facilities will create a 9.2 billion won ($8.5 million) deficit for the province every year, a sizable burden for a quickly-aging region that had the lowest income level among South Korean provinces in 2013, according to the Korea Industrial Strategy Institute, which was commissioned by Gangwon to analyze costs. Hong Jin-won, a Gangneung resident and activist who has been monitoring Olympic preparations for years, said the real deficit could be even bigger. The institute's calculation is based on assumptions that each facility would generate at least moderate levels of income, which Hong says is no sure thing. He said that could mean welfare spending gets slashed to help make up the lack of money. South Korea, a rapidly-aging country with a worsening job market and widening rich-poor gap, has by far the highest elderly poverty rate among rich nations, according to Organization for Economic Cooperation and Development figures. If Seoul doesn't pay for the Olympic facilities, and Gangwon can't turn them into cultural or leisure facilities, it might make more sense for Gangwon to just tear them down. Park said the national government must step up because the "Olympics are a national event, not a Gangwon event.".....»»

Category: sportsSource:  abscbnRelated NewsDec 15th, 2017

Global growth less even, downside risks mounting

Global economic growth remains on track to hit 3.9 percent this year and the next, the International Monetary Fund (IMF) said on Monday, but the expansion has become “less even” and risks to the outlook are on the rise. “As the global cyclical upswing approaches its two-year mark, the pace of expansion in some economies [...] The post Global growth less even, downside risks mounting appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJul 17th, 2018

3 bedroom Condominium For Sale in Pasig Boulevard for 6,579,700 – Web reference 112824813 – Property for sale Philippines : Property24

Prisma Residences – Pasig Blvd. Bagong Ilog Pasig City – Right in the middle of the Central Business District of Ortigas and Bonifacio Global City 30,337.78 per month for 30% Downpayment until Completion date April 2023! 70% Bank Financing (monthly) 15 years – 45,003.05 20 years – 38,207.41 also, soon to rise! CONDO IN TAFT… link: 3 bedroom Condominium For Sale in Pasig Boulevard for 6,579,700 – Web reference 112824813 – Property for sale Philippines : Property24.....»»

Category: newsSource:  manilainformerRelated NewsJul 14th, 2018

Tech giant to make Philippines its Southeast Asia hub

Global tech parts giant Cal-Comp Technology (Philippines) Inc. is spending the proceeds of its planned P6.77 billion initial public offering to expand its operations, acquire new equipment, and focus on research and development as it grooms the country as its next hub in Southeast Asia......»»

Category: financeSource:  philstarRelated NewsJul 12th, 2018

Starbucks to phase out plastic straws by 2020

WASHINGTON DC, USA – Global coffee giant Starbucks announced Monday, July 9, it is to eliminate all plastic straws from its 28,000 stores by 2020, becoming the latest corporate giant to take steps to combat pollution from disposable plastic. After months of tests, many of them carried out ........»»

Category: newsSource:  rapplerRelated NewsJul 10th, 2018

KD thrills Philippine hoops fans

NBA superstar Kevin Durant gave the hoops-crazed Filipino fans a grand treat during his Rise Grind Shine Again Manila Tour on Sunday. Durant, a two-time champion with the Golden State Warriors, was in the country for the second time, and first under sportswear giant Nike to promote the KD11 basketball shoes. The hoops superstar also [...] The post KD thrills Philippine hoops fans appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJul 9th, 2018

Samsung opens world s biggest smartphone factory in India

NEW DELHI, India – Samsung opened the world's largest smartphone factory in India on Monday, July 9, a move Prime Minister Narendra Modi said would help transform Asia's third-largest economy into a global manufacturing hub. Modi and South Korean President Moon Jae-in inaugurated the giant assembling plant – an expansion of ........»»

Category: newsSource:  rapplerRelated NewsJul 9th, 2018

Samsung Electronics flags 5.2% rise in Q2 profit

South Korean telecom giant Samsung Electronics on Friday flagged a 5.2 percent rise in its second quarter operating profit from a year earlier, missing analyst estimates. Samsung’s operating profit is expected to come to 14.8 trillion won ($13.2 billion) for the April-June period, higher than the 14.07 trillion won in the same period in 2017, […].....»»

Category: financeSource:  bworldonlineRelated NewsJul 6th, 2018

Trump: Gas prices are up and OPEC ‘doing little to help’

  WASHINGTON --- President Donald Trump said the Organization of the Petroleum Exporting Countries (OPEC) is "doing little to help" rising gas prices and claims "if anything, they are driving prices higher."   Trump tweeted Wednesday: "The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $'s. This must be a two way street. REDUCE PRICING NOW!"   Last month, members of the OPEC cartel agreed to pump 1 million barrels more crude oil daily, a move that should help contain the recent rise in global energy price...Keep on reading: Trump: Gas prices are up and OPEC ‘doing little to help’.....»»

Category: newsSource:  inquirerRelated NewsJul 5th, 2018

‘KD’ in Manila

Golden State Warriors star Kevin Durant, who bagged his second straight NBA Finals Most Valuable Player award last month, is slated to visit Manila on Sunday as part of a promotional tour for sportswear giant Nike. It will mark Durant's first visit in Manila for Nike, which has lined up a series of activities for the NBA star. "From the countless hours spent in the gym honing his game, to the sacrifices he makes for love of the game, to going beyond the fear of failure, he wants Filipinos to push harder every time," Nike said in a press release announcing Durant's visit. Durant will be welcomed at the Nike Park store in Bonifacio Global City, Taguig, at 12:30 p.m. on July 8....Keep on reading: ‘KD’ in Manila.....»»

Category: newsSource:  inquirerRelated NewsJul 1st, 2018

The business of wellness

Nutrilite talk magnifies brand’s success In today’s world of scientifically advanced study, the catchphrase “health is wealth” should come in with corporate substance to actually get into the household. Last June 8, wellness pioneer and global giant Nutrilite brought in Vice President for Product Development Audra Davies to talk about the brand’s latest developments in [...] The post The business of wellness appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJul 1st, 2018

How Philippine banks will fare amid rising interest rates

Moody’s Investors Service said Philippine banks will continue to thrive in the wake of back-to-back policy rate increases from the Bangko Sentral ng Pilipinas (BSP) and rising global yields. The global credit rater also see little risk of problem loans even as interest rates rise further, noting that policy adjustments can be expected to temper […].....»»

Category: financeSource:  bworldonlineRelated NewsJun 30th, 2018

Moody’s sees little risk of problem loans despite rising rates

THERE SHOULD BE little risk of problem loans even as interest rates rise further, a global credit rater said, noting that policy adjustments can be expected to temper credit growth......»»

Category: financeSource:  bworldonlineRelated NewsJun 29th, 2018

GERI putting up P1.5 billion Twin Lakes Hotel in Tagaytay

Global-Estate Resorts Inc., a subsidiary of property giant Megaworld Corp., is opening its P1.5 billion Twin Lakes Hotel by the end of the year......»»

Category: financeSource:  philstarRelated NewsJun 28th, 2018

Int l tourist arrivals for 2018 exceed UN expectations so far

Image: Michal Krakowiak/Istock.com via AFP Relaxnews A rise in international travel to countries in Asia-Pacific and Europe helped drive up global tourist arrival numbers by 6 percent in the first.....»»

Category: newsSource:  philippinetimesRelated NewsJun 28th, 2018