Advertisements


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

Peso, stocks bounce back

The stock market made a giant leap yesterday, boosted by bargain hunting and a spate of good news after several days of turmoil which pushed the market deep into bear territory......»»

Category: financeSource:  philstarRelated News12 hr. 11 min. ago

ADB sells $750M global green bonds

ADB’s support for climate change will rise to around 30 percent of its overall financing by the end of this decade The Asian Development Bank (ADB) has raised $750 million to help finance climate change mitigation and adaptation projects with the sale of 10-year green bonds. “Our green bonds issued so far in 2018 have […].....»»

Category: newsSource:  tribuneRelated NewsSep 20th, 2018

EYES ON YOU, KID: NCAA 94 Jrs. players to watch

The first round of the NCAA 94 Juniors Basketball Tournament is over and done with. And with the second round already underway, we’re getting even more glimpses of the future of Philippine basketball courtesy of these players: CLINT ESCAMIS – Mapua High School (yellow jersey with ball) ROUND 1 AVERAGES: 23.3 points, 46.9 percent shooting, 5.7 rebounds, 3.9 assists, 2.7 steals Clint Escamis has spent his first two seasons under the leadership of the likes of Sherwin Concepcion, Mike Enriquez, Warren Bonifacio, and Will Gozum. Now in his third and last season in Mapua, he is proving that he is no slouch as a leader himself. The league’s top scorer and second-best steal-getter has carried the Red Robins right back up there in the standings – and they are the only team to have downed all f the traditional powerhouses in College of St. Benilde-La Salle Greenhills, Arellano High School, and San Beda High School. This version of Mapua may not be as star-studded as it was in the last four years, but they may just have the brightest star in all of the league in their 6-foot-1 swingman. INAND FORNILOS – College of St. Benilde-La Salle Greenhills (green jersey defending white jersey with ball) ROUND 1 AVERAGES: 11.4 points, 51.8 percent shooting, 10.9 rebounds, 2.0 blocks, 1.0 assist On a team as fully loaded as CSB-LSGH, there has to be a workhorse – and Inand Fornilos has been just that and more. Just like he did in their championship campaign last season, he has been a force to reckon with on both ends of the floor for the league-leading Junior Blazers. The rebounds and defense have always been second nature for Fornilos, but this season, he has become better on offense. In fact, he already has a couple of 20-point games to his name – not bad for an undersized big man at 6-foot-2. Without a doubt, the graduating forward is doing all he can to make his former team regret ever letting him go. JOHN AMORES – Jose Rizal High School (blue jersey with ball) ROUND 1 AVERAGES: 20.1 points, 6.8 rebounds, 2.8 assists, 1.0 steal And all of that is because of John Amores, the second-best scorer in all of the league and the undisputed main man of the daring Light Bombers – the only team that will be sweeping contending Mapua in the elimination round. JRU’s rise from the bottom half of the standings to the top four is nothing short of spectacular and that improvement is best personified by Amores who went from role player a year ago to go-to-guy this season. Give the Most Improved Award to the kid already because he’s ready and raring to take much more than that. JOEL CAGULANGAN – College of St. Benilde-La Salle Greenhills (green jersey with ball) ROUND 1 AVERAGES: 15.3 points, 7.3 assists, 4.7 rebounds, 2.1 steals For the high standards he set a year ago, this season has been a quiet one for Joel Cagulangan. With the likes of Escamis and Amores flying high and CSB-LSGH teammates Fornilos and RC Calimag grabbing more headlines than him, last year’s Finals MVP has been under the radar. Quietly, however, he is actually the Junior Blazers’ leading scorer and the NCAA’s best assistman and fourth-best steal-getter. Yes, that’s just how the 5-foot-9 do-it-all dynamo rolls, making an impact even if everybody else doesn’t feel it. Just don’t forget that he could also choose to make everybody feel his impact, okay? AARON FERMIN – Arellano High School (grey jersey, #18) ROUND 1 AVERAGES: 14.2 points, 53.5 percent shooting, 17.6 rebounds, 1.0 block If not for Arellano’s struggles last season, Aaron Fermin would have been MVP. If not for the Braves’ struggle in the ongoing season, Fermin would have been the league’s most tantalizing talent. Standing at 6-foot-5, graced with a wide frame, having timing on lock, and blessed with a non-stop motor, the graduating big man has all the tools to be a game-changer on both ends of the floor. Indeed, he had a stretch of games of posting a 15-point, 20-rebound double-double. Now, if only he could lift Arellano to much-needed wins and back onto a playoff push. DAN ARCHES – Mapua High School (yellow jersey with ball) ROUND 1 AVERAGES: 16.2 points, 3.9 rebounds, 3.9 assists, 1.8 steals Mapua has long been defined by its talented big men, but now, it’s the guys at the wings who have taken center stage. Escamis has been their main man, but he also has a more than capable running mate in Dan Arches. All Escamis could do, Arches could do as well, only without the same sort of consistency. But hey, this is the first time he has been getting time with in his two years as a Red Robins so there’s nothing that all those reps couldn’t improve. And oh, he also has one thing going for him – a fine floater that he could bust out at any time that somehow, some way, has become automatic. JOSHUA DAVID – College of St. Benilde-La Salle Greenhills (green jersey, with ball) ROUND 1 AVERAGES: 14.3 points, 6.4 rebounds, 3.3 assists, 1.9 steals Imagine the dynamic between Escamis and Arches, and then translate that onto Cagulangan and his own partner-in-crime in Joshua David. Like Cagulangan, David could stuff the stat sheet. Like Cagulangan, David could do whatever CSB-LSGH needs for a win. The only difference is that unlike Cagulangan, David already has the size at 6-feet and a big body to make the same sort of noise in the Seniors. Of course, Cagulangan’s clutch genes are also on another level, but who knows? Maybe David is just waiting on the wings to seize those moments for himself? MILO JANAO AND KEAN BACLAAN – San Sebastian College-Recoletos JANAO’S ROUND 1 AVERAGES: 19.0 points, 5.0 rebounds, 1.0 assist (yellow jersey with ball in first photo) BACLAAN’S ROUND 1 AVERAGES: 15.1 points, 5.1 rebounds, 4.1 assists, 1.8 steals (yellow jersey with ball in second photo) It looks like San Sebastian College-Recoletos still wouldn’t be able to get over the hump this year, but the good news is that they remain on the right track. The even better news is that Milo Janao and Kean Baclaan, the two paving the way for them, are here to stay. That backcourt, by themselves, has fueled the Staglets to four wins – and still in the thick of things. While a long-awaited, much-wanted playoff berth is a long shot this year, perhaps it wouldn’t be so when both Janao and Baclaan get a year older and a year more determined to continue doing it all to win. MAC GUADANA AND JOHN BARBA – Lyceum of the Philippines University GUADANA’S ROUND 1 AVERAGES: 19.5 points, 5.0 rebounds, 1.8 assists (grey jersey with ball in first photo) BARBA’S ROUND 1 AVERAGES: 17.6 points, 6.3 rebounds, 2.7 assists, 1.7 steals (grey jersey with ball in second photo) Batang Gilas member Mac Guadana has become the NCAA’s constant – a 6-foot guard who could score at will while also doing his part in rebounding and playmaking. With him showing the way, Lyceum of the Philippines University has proven to be a far from easy out for three seasons now. They are still a ways away from legitimate contention, but the Junior Pirates have reason to believe that would be sooner than later as teaming up with Guadana is John Barba, a 6-foot-2 forward who just has a knack for willing his way to good looks inside. With those two, the boys from Cavite have two of the top six scorers in all of the league. Now, they just have to find the other pieces of the puzzle for their first-ever playoff berth. ROM JUNSAY – Arellano High School (grey jersey with ball) ROUND 1 AVERAGES: 19.4 points, 4.9 rebounds, 2.4 assists, 1.6 steals Rom Junsay was one of the biggest keys to Mapua’s first-ever championship. That was two years ago, though, and since then, the 5-foot-6 has transferred to Arellano and is now only playing his first and last season there. Nonetheless, in just his first game in blue and grey, he wasted no time in reminding everybody about his talents, dropping a career-high 34 points. He and the Braves have trailed off from there, but just as Arellano is a sleeping giant no team wants to wake, Junsay is an active volcano just waiting for the perfect time to erupt. HONORABLE MENTIONS Jonnel Policarpio – Mapua High School RC Calimag – College of St. Benilde-La Salle Greenhills --- Follow this writer on Twitter, @riegogogo......»»

Category: sportsSource:  abscbnRelated NewsSep 17th, 2018

Japan fisheries institute, Google to work on system to monitor illegal fishing

TOKYO --- The Japan Fisheries Research and Education Agency (FRA) will work together with Google and others to operate a system to monitor poaching at sea, as an increasing number of foreign ships fish illegally in waters around Japan. The move aims to step up efforts to investigate marine poaching, because illegal operations by foreign vessels are believed to be one of the reasons behind recent poor catches in Japan of sanma saury and other marine products. The envisioned scheme will use a system called Global Fishing Watch, which was developed by the U.S. information technology giant and other entities. The system can display ships' positions and courses on a map, based on informat...Keep on reading: Japan fisheries institute, Google to work on system to monitor illegal fishing.....»»

Category: newsSource:  inquirerRelated NewsSep 16th, 2018

SM Prime to open 71st mall

Southeast Asian property giant SM Prime Holdings Inc. is set to open its 71st mall in the Philippines---SM City Legazpi in Albay ---this Friday.   Bicolandia's newest lifestyle destination offers 88,000 square meters of gross floor area.   "SM Prime joins the City of Legazpi in bringing fun and adventure to the picturesque province of Albay with the opening of SM City Legazpi. To date, this is the company's biggest mall in the Bicol region. Together with SM City Naga in Camarines Sur, this new lifestyle destination in Bicolandia will elevate the malling experience of both the locals and tourists with offerings from top local and global brands," SM Prime president Je...Keep on reading: SM Prime to open 71st mall.....»»

Category: newsSource:  inquirerRelated NewsSep 12th, 2018

Where do we look next?

A decade ago, US financial services giant Lehman Brothers collapsed. That event triggered the landslide that became the most severe global financial crisis since the 1930s......»»

Category: newsSource:  philstarRelated NewsSep 10th, 2018

Jollibee enters into Mexican restaurant business in US

Jollibee Foods Corp. on Friday announced it is investing $12.4 million in Mexican restaurant Tortas Frontera in the United States, as the homegrown fast-food giant expands its global presence......»»

Category: financeSource:  philstarRelated NewsSep 7th, 2018

Global emissions cuts could start after 2030

  BANGKOK, Thailand --- Radical emissions reductions needed to slow down a warming planet could take effect by 2031, six years after countries submit their pledges to the United Nations. Government representatives are scrambling to craft options for the rulebook of the Paris Agreement --- the landmark climate treaty that seeks to limit global temperature rise to well below 2C. In a meeting among negotiators on Tuesday, countries such as Brazil and Canada proposed an option to report Nationally Determined Contributions (NDCs) by 2025, and communicate again by 2030 to begin the implementation by 2031. NDCs provide an overview of the greenhouse gas (GhG) emissions cuts and ...Keep on reading: Global emissions cuts could start after 2030.....»»

Category: newsSource:  inquirerRelated NewsSep 6th, 2018

Megaworld to build JP Morgan tower

Megaworld Corp. has bagged a deal to build in Fort Bonifacio an 'iconic' 25-story office tower for the global shared services operations of American banking giant JP Morgan Chase. The bui.....»»

Category: newsSource:  philippinetimesRelated NewsSep 5th, 2018

Globe teams up with Amazon

Globe Telecom Inc. is teaming up once more with global e-commerce giant Amazon, this time for its internet video on demand service......»»

Category: financeSource:  philstarRelated NewsSep 3rd, 2018

Globe teams up with Amazon anew

Globe Telecom Inc. is teaming up once more with global e-commerce giant Amazon, this time for its internet video on demand service......»»

Category: financeSource:  philstarRelated NewsSep 2nd, 2018

Global warming could spur more and hungrier crop-eating bugs

  WASHINGTON --- A warmer world likely means more and hungrier insects chomping on crops and less food on dinner plates, a new study suggests. Insects now consume about 10 percent of the globe's food, but that will increase to 15 to 20 percent by the end of the century if climate change isn't stopped, said study lead author Curtis Deutsch, a University of Washington climate scientist. The study looked at the damage bugs like the European corn borer and the Asiatic rice borer could do as temperatures rise. It found that many of them will increase in number at key times for crops. The hotter weather will also speed up their metabolism so they'll eat more, the researchers ...Keep on reading: Global warming could spur more and hungrier crop-eating bugs.....»»

Category: newsSource:  inquirerRelated NewsAug 31st, 2018

H& M launches 2019 Global Change Award

Fast fashion giant H&M is once again on the hunt for innovators looking to make the clothing industry more sustainable. The Swedish retailer's non-profit H&M Foundation has launched the fourth annual edition of its Global Change Award, which challenges trailblazers to submit ideas geared towards the creation of a circular fashion industry. For 2019, it will be focusing on digital innovations in particular. The award, which offers coaching and 1 million euros in funding to its winning inventors, has attracted more than 8,000 entries from 151 different countries since it was launched in 2015, in partnership with Accenture and the KTH Royal Institute of Technology in Stock...Keep on reading: H&M launches 2019 Global Change Award.....»»

Category: newsSource:  inquirerRelated NewsAug 30th, 2018

Asia stocks rise as trade optimism extends Wall Street’s bull run

TOKYO — Asian stocks rose on Thursday as Wall Street hit record highs in the hope that the current North American Free Trade Agreement (NAFTA) negotiations will lead to a further easing of global trade tensions. MSCI’s broadest index of Asia-Pacific shares outside Japan nudged up 0.1 percent. Australian stocks added 0.15 percent, and Japan’s Nikkei rose […].....»»

Category: newsSource:  interaksyonRelated NewsAug 30th, 2018