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WB tags better jobs as economy’s ‘missing link’

THE WORLD BANK said that better quality jobs and faster real wage growth are the “missing link” to reducing poverty and inequality in the country, even as the government pursues more aggressive infrastructure development. “The key challenge facing the government is not unemployment, but rather the poor quality of jobs in the labor market, as […] The post WB tags better jobs as economy’s ‘missing link’ appeared first on BusinessWorld......»»

Category: financeSource: bworldonline bworldonlineApr 16th, 2018

Asia under water: How 137 million people’s lives are being put at risk – CNN News

Khorsheeda Khatun had been left with nothing &'8212; then that too was washed away. The 28-year-old fled her home country of Myanmar in January with her two daughters, escaping the latest outbreak of violence, and was living in the Kutupalang Makeshift Settlement in Bangladesh when cyclone Mora arrived five months later and displaced up to 500,000 people. &'8220;My house was shattered. It broke the wooden planks supporting my hut and blew away the polythene rooftop. The wind and water destroyed whatever little possessions we had,&'8221; she told UNICEF workers in June. Several weeks later, across the Himalayas in South China, over 12 million people were forced to flee their homes as flood waters rose for yet another year. In China's southeastern Jiangxi province alone, flooding this year has so far caused $430 million in damages and economic losses. In neighboring Hunan province, 53,000 homes have been destroyed &'8212; and the flooding has yet to fully recede. Increasingly severe weather, triggered by climate change, is putting hundreds of millions of people at risk across the rapidly developing countries of southern Asia. &'8220;In the next 30 years, it is projected that heavy rainfall events will be increasing &' in Asia, by about 20% for sure,&'8221; climate scientist Dewi Kirono at Australia's Commonwealth Scientific and Industrial Research Organisation (CSIRO) told CNN. Southern Asia is already the wettest area on the continent and one of the wettest regions in the world,receiving an average of at least 1000mm of rainfall a year. As the rains fall harder, more than 137 million people in India, Bangladesh and China will be put at risk of coastal or inland flooding, more people than in the rest of the Asia-Pacific combined, a study in 2012 found. Aggravating flooding through poor drainage and short-sighted planning is the sprawling, rapid urban growth across South Asia, built to accommodate the millions of rural residents moving to cities. &'8220;You still have to have proper draining. It was a green field and now it's an urban area. Quite often, if you don't do that, (because) you've concreted everything the flood run-off is so much higher and the deaths are much worse,&'8221; Oxford University visiting fellow and WWF advisor Paul Sayers told CNN. The majority of flood-related deaths and injuries worldwide since 1950 have been in three countries: China, India and Bangladesh. According to statistics from Belgium's Universite Catholique de Louvain's Emergency Events Database, since 1950, more than 2.2 million people in these countries have been killed by flooding. That includes the estimated two million people who died during the disastrous 1959 floods in China. The world's leading authority of climate change, the Intergovernmental Panel on Climate Change (IPCC), wrote in its latest report the Asia region was already suffering &'8220;huge economic losses&'8221; from weather and climate disasters, with one quarter of the entire world's economic losses from disasters in Asia alone. As flood swept through central China in July 2017, leaving devastation in its wake and almost 90 people dead or missing, locals took to Weibo to express their horror. &'8220;The road is blocked, the electricity is downed, water is polluted, no phone signal is detected, elderly (people) and children are waiting for food,&'8221; said one user living in Shilong Village in Hunan province. Photos accompanying the post showed cracked walls, piles of trash and mud everywhere. &'8220;The major district has turned to a dead city,&'8221; another user said. Almost every year in the past decade, more than 1,000 people have died in China, India and Bangladesh from flooding, according to the Database, and millions of dollars in damage has been done. The problem centers around three of the great Himalayan rivers of South and East Asia: The Ganges, Brahmaputra and Yangtze. About 500 million people, or 50% of the population in India and Bangladesh, and about 300 million people, or about 25% of the population of China, live within the flood basins of these three rivers. Taken together, the three waterways support an estimated 14% of the world's total population. In China alone, the enormous Yangtze flood plain, full of fertile soil and easy river access, is responsible forabout 40% of China's GDP. &'8220;Many Asian cities, and especially some megacities, have been built in the deltas of major rivers where ports could link the cities to the global economy,&'8221; a report by the Asian Development Bank in 2012 said. When the heavy rains higher up in the flood plains flow into these rivers, water levels rise dramatically &'8212; and floodwaters pour into the surrounding cities and towns. For example, this year, torrential rains caused a Yangtze tributary in Hunan to rise a record 3.2 meters above the warning level, bursting its banks and swamping crops and houses. Still, these factors have been here for years. Why is the danger growing now? Flooding in urban environments is more costly in terms of lives and loss of property because without a natural way to disperse the floodwaters they can cause damage &'8220;beyond the scope of the actual (flood),&'8221; experts say. &'8220;A lot of the urbanization &' has happened in a largely unplanned matter. For instance they don't have risks adequately taken into account, they don't invest enough in sustainable drainage,&'8221; Abhas Jha, the World Bank sector manager for Transport, Urban and Disaster Risk Management for East Asia and the Pacific, said. Of course the huge rush of rural residents to China and India's cities hasn't helped, as cities expand deeper into floodplains and build hurriedly to accommodate their citizens. [&'].....»»

Category: newsSource:  mindanaoexaminerRelated NewsJul 25th, 2017

Moody’s: Shift to federalism a downside risk for PH economy

Debt watcher Moody’s Investors Service on Friday said the Philippines’ planned shift to a federal form of government could be a downside risk for the economy, especially on the country Source link link: Moody’s: Shift to federalism a downside risk for PH economy.....»»

Category: newsSource:  manilainformerRelated News12 hr. 58 min. ago

Indian building collapse kills three, 12 missing

More than 100 Indian rescue workers were using steel cutters and drills on Wednesday to try and free a dozen people feared trapped under the rubble of a collapsed six-story building outside Delhi. Indian building collapse kills three, 12 missing More than 100 Indian rescue workers were using steel cutters and drills on Wednesday to… link: Indian building collapse kills three, 12 missing.....»»

Category: newsSource:  manilainformerRelated NewsJul 18th, 2018

Fitch keeps PH rating, flags overheating risks

Debt watcher Fitch Ratings has affirmed the Philippines’ “BBB” investment grade rating, which carries a stable outlook, but warned of overheating risks to the economy. “The Philippines’ sovereign ratings balance a favorable growth outlook, government debt levels that are below peer medians, a net external creditor position and policies geared towards maintaining macrostability against lower… link: Fitch keeps PH rating, flags overheating risks.....»»

Category: newsSource:  manilainformerRelated NewsJul 18th, 2018

NEDA seeks continuity in infra dev’t

By Elijah Joseph C. Tubayan Reporter THE GOVERNMENT is taking steps to persuade the succeeding administration to carry on stepped-up infrastructure development, even as a looming shift in form of government adds to uncertainties now hounding the economy, the state socioeconomic planner said on Monday. “What we… want to accomplish in this administration is that,… link: NEDA seeks continuity in infra dev’t.....»»

Category: newsSource:  manilainformerRelated NewsJul 17th, 2018

China’s economic growth cools amid trade tensions

BEIJING — China’s economic growth slowed in the quarter ending in June, adding to challenges for Beijing amid a mounting tariff battle with Washington. The world’s second-largest economy expanded by 6.7 percent, down from the previous quarter’s 6.8 percent, the government reported Monday. Even before the dispute with Washington erupted, forecasters expected growth to cool… link: China’s economic growth cools amid trade tensions.....»»

Category: newsSource:  manilainformerRelated NewsJul 16th, 2018

Higher number of people eating out reflects growing PH economy – DTI

The higher number of people eating out in restaurants is reflective of the country’s ‘growing economy’, Trade Secretary Ramon Lopez said on Friday. ‘Yung mga dating ‘di kum Source link link: Higher number of people eating out reflects growing PH economy – DTI.....»»

Category: newsSource:  manilainformerRelated NewsJul 14th, 2018

UN: Migrants a remarkable engine for growth

UN Secretary-General Antonio Guterres is calling migration “a positive global phenomenon,” saying migrants around the globe contribute greatly to the world economy. Source link link: UN: Migrants 'a remarkable engine for growth'.....»»

Category: newsSource:  manilainformerRelated NewsJul 13th, 2018

BAP sees more jobs in the banking sector

The Bankers Association of the Philippines (BAP) said yesterday that the banking industry continues to open its doors to entry-level applicants who are interested to pursue a career in banking. It added that with over 12,000 bank offices in the country, the banking industry plays a big role in providing jobs in the country. BAP… link: BAP sees more jobs in the banking sector.....»»

Category: newsSource:  manilainformerRelated NewsJul 9th, 2018

3 dead, 2 missing as boat capsizes

LEGAZPI CITY: A search and rescue team from Buhi Police and Municipal Disaster Risk Reduction Management Council (MDRRMC) continues to search for two missing minors after a motorized boat they were riding capsized in Lake Buhi in Camarines Sur on Sunday night. Maria Luisa Calubaquib, spokesperson for the Regional Police in Bicol, said three persons… link: 3 dead, 2 missing as boat capsizes.....»»

Category: newsSource:  manilainformerRelated NewsJul 9th, 2018

Global stocks rally despite uncertainties

LONDON: A global stocks rally took root Monday after strong US jobs data, and despite Brexit uncertainty that boosted the pound. Asian and European equities were spurred higher, extending pre-weekend gains, as Friday’s solid jobs report reinforced confidence in the US economy and helped soothe trade war nerves. “European stock markets are higher after a [...] The post Global stocks rally despite uncertainties appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJul 9th, 2018

Asian markets rise again after strong US jobs data

Asian markets rallied on Monday, extending their gains at the end of last week, following another strong US jobs report that reinforced confidence in the US economy and helped settle trade war nerves. While Friday’s tit-for-tat tariffs on billions of dollars of goods by the world’s top two economies were seen as damaging, analysts said […].....»»

Category: financeSource:  bworldonlineRelated NewsJul 9th, 2018

CCLEX Construction Officially Starts

The Cebu-Cordova Link Expressway (CCLEX) has officially started on July 5, 2018 through a blessing ceremony at the Compania Maritima Building at the South Road Properties. Cebu City Mayor Tomas Osmeña and gave his speech about the project. He said that this is a milestone for the improvement of the Cebu’s economy. “We are here […].....»»

Category: newsSource:  metrocebuRelated NewsJul 6th, 2018

Migrant workers the key to Russia’s smooth-running World Cup

MOSCOW --- Behind the veneer of Russia's smooth-running World Cup are legions of migrant workers from Central Asia, who built the stadiums and keep them running, staff concession stands, and clean up after fans who revel through city streets. They are among millions of migrants who perform menial jobs across Russia, and face routine police harassment and ethnic profiling. They are accused of depressing wages and plotting terrorism, yet unlike in Europe or the US, no one talks of building a border wall to keep them out. That's because they form a pillar of the economy and aid Vladimir Putin's geopolitical strategy --- and without them, Russia might not have managed to host a World Cup ...Keep on reading: Migrant workers the key to Russia’s smooth-running World Cup.....»»

Category: newsSource:  inquirerRelated NewsJul 5th, 2018

Dominguez optimistic on 7% GDP growth

CAPAS, Tarlac: Finance Secretary Carlos Dominguez 3rd is confident that the country’s economy could grow by at least seven percent in the medium term on the back of the government’s “mammoth investment” of up to P9 trillion for the rest of Duterte’s presidency. Dominguez made the forecast during an economic briefing at the construction site of the National… link: Dominguez optimistic on 7% GDP growth.....»»

Category: newsSource:  manilainformerRelated NewsJul 4th, 2018

Dole: 6,000 machine operators wanted

The Department of Labor and Employment (Dole) on Monday said more than 6,000 jobs for machine operators were waiting to be filled on its online job portal PhilJobNet.   The demand for machine operators was higher than for call center agents, Dole said.   Other jobs available are for domestic helpers, salesmen, cashiers, food servers,… link: Dole: 6,000 machine operators wanted.....»»

Category: newsSource:  manilainformerRelated NewsJul 3rd, 2018

British divers who found Thai children in cave are no strangers to rescues

Two British volunteer divers who helped find a youth football team trapped in a cave complex in Thailand have a history of difficult rescues around the world. Richard Stanton and John Volanthen, who have day jobs as a fireman and internet engineer respectively, negotiated a long and winding path through flooded caverns to find the 12 young boys and their coach nine days after they went missing. "The British divers Rick and John were at the spearhead" of the forward search party, said Bill Whitehouse of the British Cave Rescue Council, an informal grouping of rescue teams around Britain. "They managed to dive the last section and get through into the chamber where the missing...Keep on reading: British divers who found Thai children in cave are no strangers to rescues.....»»

Category: newsSource:  inquirerRelated NewsJul 3rd, 2018

Searching for missing boys, Thai divers grope way through flooded cave

Thai navy divers had still to navigate their way through three kilometers of dark, flooded cave passages on Sunday to reach the spot rescuers believe would give 12 missing boys and their soccer coach a better chance of survival. Source link link: Searching for missing boys, Thai divers grope way through flooded cave.....»»

Category: newsSource:  manilainformerRelated NewsJul 1st, 2018

7-time champ Serena Williams gets smooth draw at Wimbledon

LONDON — Serena Williams avoided any early matchups against opponents with success to speak of at Wimbledon in a draw on Friday that could put her against No. 5 seed Elina Svitolina in the third round. Williams is returning to the grass-court tournament for the first time since 2016 after missing it last year while… link: 7-time champ Serena Williams gets smooth draw at Wimbledon.....»»

Category: newsSource:  manilainformerRelated NewsJun 30th, 2018

AirAsia : World’s BEST BUDGET Airline ? | Manila – Bangkok | 🇵🇭🇹🇭 – Manila Video

Sometimes they offer dirt cheap fares. This is a comprehensive Review of Air Asia from Manila Airport ( NAIA ) to Don Mueang Airport in Bangkok featuring their economy class cabin. Flying from Manila, Philippines to Bangkok, Thailand. Air Asia is one of the major low cost budget airlines in Asia. Sometimes they offer dirt… link: AirAsia : World’s BEST BUDGET Airline ? | Manila – Bangkok | 🇵🇭🇹🇭 – Manila Video.....»»

Category: newsSource:  manilainformerRelated NewsJun 29th, 2018