Latin America passes 1 million COVID deaths as IMF proposes $50 billion plan
Latin America and the Caribbean passed one million coronavirus deaths on Friday as the IMF proposed a $50 billion plan to end the pandemic, aiming to expand global immunization drives......»»
PPPs eyed for offshore wind farms in ports
The government may consider public-private partnerships (PPPs) in its plan to transform ports into offshore wind projects, as it could take as much as $80 million to redevelop each one of them......»»
Prevent Pollen From Ruining Your Spring with These Tips
Allergy season has arrived early in the US, affecting more than 80 million Americans, as reported by The Asthma and Allergy Foundation of America. Pollen.....»»
TikTok facing ban in America; penalized $384 million in Europe
The US House of Reps has passed a bill to ban TikTok unless it cuts ties to Communist China. Chinese parent ByteDance must sell TikTok to another nationality in six months or be shut down......»»
Losses to Philippine agriculture due to El Nino reach 31 mln USD
MANILA, March 20 (Xinhua) -- The El Nino dry spell and ensuring drought have caused over 1.75 billion pesos (roughly 31 million U.S. dollars) in damage to Philippine agriculture, a senior government official said Wednesday. This year's losses due to El Nino are still low compared to 2009 when the damage to agriculture reached 17 billion pesos (302 million dollars), Presidential Communications Office Assistant Se.....»»
Belgian wealth fund managers to explore Phl investments
Belgium’s sovereign wealth fund managers are looking to visit the country to explore investments in Philippine firms engaged in a range of public services, the Department of Finance said Saturday. DoF Secretary Benjamin Diokno and officers of the Federal Holding and Investment Company or La Société Fédérale de Participations et d’Investissement discussed opportunities in public-private partnerships in finance, aeronautics and mobility, health, utilities and impact investing. “Koenraad Van Loo, CEO of SFPIM, shared that the company is keen to visit the Philippines to explore partnerships in its priority sectors,” a statement from the DoF said. “SFPIM preserves the long-term stability of the Belgian economy by contributing to the anchoring of strategic assets through smart capital solutions for both promising and established companies,” the DoF added. According to the 2023 World Competitiveness Ranking, Belgium is 13th out of 64 countries in economic performance. The country is also among the top in business efficiency at fifth place and tenth in infrastructure. The Philippines, on the other hand, ranks 40th in economic performance and business efficiency, and 58th in infrastructure. Long-term economic growth President Ferdinand Marcos Jr. has vowed to boost infrastructure development for national long-term economic growth through proceeds from the Maharlika Investment Fund which his administration expects to be activated before the end of the year. The Philippine sovereign fund is open to local and foreign investors in the public and private sectors, and aims to support 197 flagship infrastructure projects worth a total of some $155 billion. Diokno said the DoF has met with foreign government and business leaders at the European Union’s first Global Gateway Forum last 25 to 26 October in Brussels, Belgium to also discuss the Philippine sovereign fund. The Finance Secretary said he talked to the Belgian Investment Company for Developing Countries or BIO led by its chief executive officer Luuk Zonneveld. “Discussed were opportunities to finance projects in the Philippines that drive sustainable development, particularly gender equality, climate action, and decent work,” he said. BIO uses private funds to support small and medium businesses, and financial institutions also in Africa and Latin America. Confident in the administration Meanwhile, Professor Dindo Manhit of business consultancy outfit, Stratbase ADR Institute said he is confident the Marcos administration can attract more foreign investments in agro-industrial and digitalization through its participation in global economic meetings abroad. “By establishing strong links in the economic space, the Philippines can further solidify its role in the global supply chain,” Manhit said. “We are confident that this administration will continue to advocate for reforms that will ensure our economic growth to make the country a premiere investment destination,” he added. The post Belgian wealth fund managers to explore Phl investments appeared first on Daily Tribune......»»
‘They put a price on everything’: extortion hits Mexican economy
Plots of land lie empty among lime and banana plantations in one of Mexico's most violent regions -- abandoned by their owners due to widespread extortion squeezing Latin America's second-largest economy. As in many other agricultural zones around the country, criminal gangs in the western state of Michoacan have become a major market force, driving up costs and hurting not just farmers but also consumers. Take limes, for example: despite a national increase in production, and a slowing of overall consumer price inflation, the cost of the citrus fruit rose by more than 50 percent in the past year, according to the Agricultural Market Consulting Group (GCMA), a consulting firm. The impact is huge in a country where limes are a vital ingredient in many dishes. "The prices are through the roof!" said Gabriela Jacobo, a 53-year-old housewife who now only buys a few limes a week. The threat from organized crime is such that trucks transporting limes now have police escorts, AFP reporters saw during a visit to the region. The fallout has even been felt in Mexico City, where drug and gang violence is often seen as a faraway problem and the ability to source food from all around the country eases supply problems. The price of limes in the capital doubled, reaching almost $4.5 per kilo ($2 per pound) in August. "It's not because of a supply issue," but because of extortion, said GCMA analyst Juan Carlos Anaya. Turf wars Michoacan, which covers an area as big as Costa Rica, is riven by bloody turf wars between rival gangs such as the Jalisco New Generation Cartel, Los Viagras, and La Familia Michoacana. As well as fighting over drug smuggling routes, they also compete to make money through extortion. Payment is taken in the form of a charge of 11 US cents to package each kilo of limes, a farmer told AFP, speaking on condition of anonymity due to fear of reprisal. It may not sound like much, but the region can produce about 900 tons of fruit every day. In the past, "the criminals had their fights but they left us to work. Now they don't even leave us to work,'" the farmer said. Tomato, banana, and mango producers, as well as transporters and distributors, must also pay the gangs, he said. "They put a price on everything," he added. Extortion and theft cost companies in Mexico about 120 billion pesos ($6.8 billion) a year, equivalent to 0.67 percent of the country's annual economic output, according to official figures. In the southern state of Chiapas, extortion and violence have caused food shortages in communities bordering Guatemala. "There's no electricity. There's no food. There's no water. There's no gas," a resident told AFP. The region is gripped by a turf war between the Jalisco New Generation and Sinaloa cartels that has led to dozens of business closures and forced locals to buy supplies in Guatemala, at higher cost. Even the ingredients for tortillas -- a Mexican staple -- are being purchased across the border. Cities such as Chilpancingo, the capital of southern Guerrero state, also saw widespread closures of chicken shops in the past after farmers and merchants who allegedly refused to pay extortion were murdered. 'Deep trouble' Avocado growers have also fallen prey to the battle for control of Michoacan's agricultural riches. Last year the United States briefly suspended avocado imports from the state after a US inspector checking export shipments before the Super Bowl received phone threats. To confront crime, lime producers like Hipolito Mora founded self-defense groups in 2013 that were themselves later accused of links to criminals. After vehemently denouncing drug traffickers, Mora was shot dead in June in Michoacan. "We're in deep trouble with the cartels," said his brother Guadalupe Mora, who was being watched over by several bodyguards. "They charge us a fee for everything -- basic foods, soft drinks, beers, chicken. Everything's very expensive because of them," he said. State prosecutor Rodrigo Gonzalez urged people to come forward to report such crimes. "We're committed to fighting these people, identifying them, arresting them, and bringing them to court," he said. But many fear they will suffer the same fate as Mora if they speak up. Despite the risks, the farmer said that he had no intention to leave his land. "Lots of people depend on us and our work, to provide for their families," he said. The post ‘They put a price on everything’: extortion hits Mexican economy appeared first on Daily Tribune......»»
Ukraine military to collapse without U.S. aid, experts warn
Defense and national security experts are sounding the alarm on the cutting of United States assistance to Ukraine’s military after the US Congress passed a stopgap budget law without funding for Kyiv. “It would be devastating for the Ukrainians” if US aid is halted, Mark Cancian, a senior advisor at the national security think tank Center for Strategic and International Studies, said. “The Ukrainian military would weaken and then ultimately perhaps collapse,” though it “might be able to just hold on on the defensive,” Cancian said. The United States has committed more than $43 billion in security aid since Russia invaded Ukraine in February 2022 — over half the total from all Western donors. It has supplied a vast arsenal to help Kyiv fight to regain territory seized by Russia, ranging from small arms ammunition and artillery rounds to vehicles, sophisticated rocket launchers, tanks and mine-clearing equipment. “Militaries in conflict need a continuous flow of weapons and supplies and munitions to replace what’s destroyed and gets used up,” Cancian said. The European Union is prepared to stand by Ukraine “for as long as it takes” and the EU’s foreign policy chief Josep Borrell reiterated this during the gathering of the bloc’s foreign ministers in Kyiv on Monday. Dozens of countries — especially in Europe — have provided military aid to Ukraine, and while they could increase support, picking up all the slack left by Washington would be a major long-term challenge. It would require a “years and decades-long effort to get Europe to a place where (it) could fully replace the US as a kind of military power, or a defense industrial power,” James Black, assistant director of the defense and security research group at RAND Europe, said. US Defense Secretary Lloyd Austin — who played a key role in forging an international coalition to back Ukraine, and then in coordinating assistance — called over the weekend for Congress to take action. Lawmakers should make good on “America’s commitment to provide urgently needed assistance to the people of Ukraine as they fight to defend their own country against the forces of tyranny,” Austin said in a statement. “America must live up to its word and continue to lead.” WITH AFP The post Ukraine military to collapse without U.S. aid, experts warn appeared first on Daily Tribune......»»
Beyonce ‘Renaissance’ film to hit theaters in December
Beyonce over the weekend wrapped her much-touted Renaissance World Tour, a 56-show performance epic promoting her lauded album that pays homage to dance and disco. And it's on to the next one for the 42-year-old megastar, with her latest project "Renaissance: A Film by Beyonce" now slated for release December 1. It's not the first time Beyonce has released elaborate visual companions to her music. She called both her 2013 self-titled album and 2016's "Lemonade" visual albums. She's also released concert films, documentaries, and 2019's "Homecoming," which chronicled her headliner sets at Coachella. But this time she's shifting away from DVD or streaming-only releases, opting for a theatrical release a la Taylor Swift, whose Eras Tour concert film is poised to rule the box office when it is released later this month. Based on surveys conducted by the company QuestionPro, by the time both Swift and Beyonce have finished their blockbuster tours, they're expected to have generated a combined $9 billion in economic activity just in North America. According to a statement from concert promoter Live Nation, Beyonce's global run earned $579 million. Beyonce's film tracks her artistic journey over the course of her tour and is also expected to include behind-the-scenes footage of her and her family, including husband Jay-Z and their three children. "When I am performing, I am nothing but free," Beyonce says in the trailer for her film. "My goal for this tour was to create a place where everyone is free, and no one is judged." The post Beyonce ‘Renaissance’ film to hit theaters in December appeared first on Daily Tribune......»»
Pope appoints 21 new cardinals to fill highest ranks of Church
Pope Francis on Saturday elevated 21 clergymen from distant corners of the world to the rank of cardinal, saying diversity was indispensable to the future of the Catholic Church. Under sunny skies and with a crowd that filled half of Vatican City's grandiose, colonnaded St Peter's Square, the 86-year-old pope welcomed the new, so-called "Princes of the Church" -- one of whom could one day become the successor to the current pontiff. "The College of Cardinals is called to resemble a symphony orchestra, representing the harmony and synodality of the Church," said Francis, seated under a canopy before the gathered cardinals on the steps of St Peter's Basilica. "Diversity is necessary; it is indispensable. However, each sound must contribute to the common design," said the Argentine Jesuit. The choice of the new cardinals, who include diplomats, close advisers and administrators, is closely watched as an indication of the priorities and position of the Church. One of them could also one day be elected by his peers to succeed Francis, who has left the door open to stepping down in the future should his health warrant it. Saturday's ceremony, known as a consistory, is the ninth since Francis in 2013 was named head of the world's 1.3 billion Catholics. One by one, the scarlet-clad cardinals knelt before the pope, who bestowed on them the two symbols of their high office: a scarlet four-cornered cap known as a biretta, and a cardinal's ring. To some, a grinning Francis uttered an encouraging "Bravo!" or "Courage!" as he shook their hand. Eighteen of the 21 newly made cardinals are under the age of 80 and thus currently eligible to vote as "cardinal electors" in the next conclave, when Francis' successor will be decided. They are among 99 cardinal-electors created by Francis, representing about three-quarters of the total That has given rise to speculation that the Church's future spiritual leader will be cast in the same mold as Francis, preaching a more tolerant Church with a greater focus on the poor and marginalized. Bishops taking action Throughout his papacy, Francis has sought to create a more inclusive, universal Church, looking past Europe to clergy in Africa, Asia and Latin America to fill the Church's highest ranks. With his latest roster of cardinals, Francis has again looked to the world's "peripheries" -- where Catholicism is growing -- while breaking with the practice of promoting archbishops of large, powerful dioceses. "He is looking for cardinals who correspond to the times. These are people who have all taken a step away from the Church of the past, who positively ensure a break," an informed observer of the Holy See who asked to remain nameless told AFP ahead of the ceremony. The array of cardinals represent "a richness and a variety of experience, and that's what the Church is all about," the Archbishop of Cape Town, Stephen Brislin, told AFP Thursday before his elevation to cardinal. "The Church encompasses all people, not just a certain group of people," he said. There are three new cardinals from South America, including two Argentinians, and three from Africa, with the promotion of the archbishops of Juba in South Sudan, Tabora in Tanzania, and Cape Town's Brislin. Asia is represented by the Bishop of Penang in Malaysia and the Bishop of Hong Kong, Stephen Chow, who is seen as playing a key role in seeking to improve tense relations between the Vatican and Beijing. Diplomats and managers Some of the new cardinals, like Chow, have experience in sensitive zones of the world where the Holy See hopes to play an important diplomatic role. The list includes the Holy Land's top Catholic authority, Italian Archbishop Pierbattista Pizzaballa, the first seated Latin Patriarch of Jerusalem to be made cardinal. "Jerusalem is a small laboratory, interreligious and intercultural, and that's a challenge that the whole world is facing at this point," Pizzaballa told AFP. Also promoted was the apostolic nuncio, or ambassador, to the United States, France's Christophe Pierre, whose decades-long diplomatic career includes posts in countries including Haiti, Uganda and Mexico. Francis also tapped top administrators in the Curia, the Holy See's government. His new choices include Claudio Gugerotti, the Italian prefect of the Dicastery for the Eastern Churches; Argentina's Victor Manuel Fernandez, whom Francis recently named head of the powerful Dicastery for the Doctrine of the Faith; and Chicago-born Robert Prevost, a former missionary in Peru who leads the Dicastery for Bishops. Following the ceremony, the new cardinals were congratulated by members of the public at the Vatican's sumptuous Apostolic Palace. The post Pope appoints 21 new cardinals to fill highest ranks of Church appeared first on Daily Tribune......»»
Pope to appoint 21 new cardinals, looking past the West
Pope Francis will on Saturday elevate 21 clergymen from all corners of the world to the rank of cardinal -- most of whom may one day cast ballots to elect his successor. The choice of the new "Princes of the Church", who include diplomats, close advisers, and administrators, is closely watched as an indication of the future direction of the Catholic Church. One of them could also one day become the successor to 86-year-old Francis, who has left the door open to resigning -- although he says he is not there yet. Saturday's ceremony, known as a consistory, is the ninth since Francis was elected pope by his peers in 2013. He has since sought to create a more inclusive, universal Church, looking past Europe to clergy in Africa, Asia, and Latin America to fill the Church's highest ranks. Beginning at 10:00 am (0800 GMT) in St Peter's Square in Vatican City, the new cardinals will kneel before the pope to receive the two symbols of their high office: a scarlet four-cornered cap known as a biretta, and a cardinal's ring. Eighteen of the 21 new cardinals are under the age of 80 and thus currently eligible to vote as "cardinal electors" in the next conclave, when Francis' successor will be decided. They are among 99 cardinal electors created by the Argentine pontiff, representing about three-quarters of the total. That has given rise to speculation that the future spiritual leader of the world's 1.3 billion Catholics will be cast in the same mold as Francis, preaching a more tolerant Church with a greater focus on the poor and marginalized. Bishops taking action With his latest roster of cardinals, Francis has again looked to the world's "peripheries" -- where Catholicism is growing -- while also breaking with the practice of promoting archbishops of large, powerful dioceses. "He is looking for cardinals who correspond to the times. These are people who have all taken a step away from the Church of the past, who positively ensure a break," an informed observer of the Holy See who asked to remain nameless told AFP. "He likes bishops who take action." There are three new cardinals from South America, including two Argentinians, and three from Africa, with the promotion of the archbishops of Juba in South Sudan, South Africa's Cape Town, and Tabora in Tanzania. Asia is represented by the Bishop of Penang in Malaysia and the Bishop of Hong Kong, Stephen Chow, who is seen as playing a key role in seeking to improve tense relations between the Vatican and Beijing. "Traditionally, (the Church) was focused on Europe or the United States, but now we need to hear from Africa and Asia," Chow told reporters Thursday. Diplomats and managers Some cardinals-to-be, like Chow, have experience in sensitive zones of the world where the Holy See hopes to play an important diplomatic role. The list includes the Holy Land's top Catholic authority, Italian Archbishop Pierbattista Pizzaballa, the first serving Latin Patriarch of Jerusalem to be made cardinal. "Jerusalem is the center of the world, but it is also the periphery. We know that Pope Francis pays attention to the periphery," Pizzaballa told AFP. "Jerusalem is a small laboratory, interreligious and intercultural, and that's a challenge that the whole world is facing at this point," he said. Also to be promoted is the apostolic nuncio, or ambassador, to the United States, France's Christophe Pierre, whose decades-long diplomatic career includes posts in countries including Haiti, Uganda, and Mexico. Top administrators in the Curia, the government of the Holy See, who are considered close to Francis are also being recognized. There is Italy's Claudio Gugerotti, prefect of the Dicastery for the Eastern Churches; Argentina's Victor Manuel Fernandez, whom the pope recently named head of the powerful Dicastery for the Doctrine of the Faith; and Chicago-born Robert Prevost, a former missionary in Peru who leads the Dicastery for Bishops. The last consistory was held in August 2022. The post Pope to appoint 21 new cardinals, looking past the West appeared first on Daily Tribune......»»
Phl’s IT-BPM employee headcount surpasses global growth rate — IBPAP
With the continuous reputation being the world's second rank as IT-BPM hub next to India, the Philippine IT-BPM sector’s headcount continues to surge, now at 8.7 percent reaching a total of 1.70 million full-time employees and outperforming the global growth rate of 7.7 percent. This was revealed by IT and Business Process Association of the Philippines president and CEO Jack Madrid during the 15th International IT-BPM Summit at Okada Manila on Wednesday. Madrid said the Philippines also soared on the revenue front with a growth rate of 8.8 percent, which translates to an estimated $35.4 billion growth target for this year. Madrid said factors propelling the growth of the Philippine IT-BPM industry in 2023 include the country’s advantage, as US companies are increasingly redirecting work offshore, and they are showing a clear preference for the Philippines. “Our country has become a hub for high-quality IT and BPM services, attracting global giants and startups alike,” he said. Also, Madrid said the persistent talent gap in North America for IT-BPM services has driven companies to look beyond their borders for skilled professionals. “The Philippines has proven time and again that it can provide the talent pool that these companies need,” he added. Madrid also said the industry has strong government support, playing a crucial role in this growth story by instituting supportive remote and hybrid work policies. “These policies have not only helped companies adapt to the changing work landscape but have also attracted foreign investments. With the help of our allies and collaborators, we were able to put into motion programs that align with our acceleration levers and support our 2028 growth targets,” said Madrid. “Given this, our outlook for 2023 is bright—in fact, better than we initially projected—and we are committed to sustaining this trajectory of impactful and positive growth throughout the coming years,” he added. Madrid went on to report that from the start of 2022 until year-end of 2023, the IT-BPM sector expects to add 257,000 full-time employees to its headcount and $5.9 billion to its revenue, placing the Philippines firmly on track to meet its targets for 2028. He expounded by saying that these numbers indicate that the industry is set to achieve 23 percent of the 1.1 million jobs it needs to create and 20 percent of the $29.5 billion it needs to generate by 2028. “The growth of the IT-BPM sector in 2023 is not just a statistic; it is a testament to the industry’s resilience, the dedication of its ecosystem of partners, and the continuing competitiveness of Filipino talent,” Madrid shared. “The Philippines is not just keeping pace with global trends; we are setting the standard. As we move forward, let us continue to invest in talent, innovation, and inclusive growth, ensuring we remain a beacon of excellence in the global IT-BPM industry. Together, we will reach new heights, fulfill our 2028 targets, and secure a brighter future for our nation and our people,” he underlined. The post Phl’s IT-BPM employee headcount surpasses global growth rate — IBPAP appeared first on Daily Tribune......»»
Hopes rise for end to Hollywood writers’ strike as talks extend
Hollywood writers and studios were due to meet for a third consecutive day of high-level talks Friday, raising the industry's hopes that an end to the costly 144-day Writers Guild of America strike could finally be near. Thousands of film and television scribes downed their pens back in early May over demands including better pay for writers, greater rewards for creating hit shows, and protection from artificial intelligence. They have manned picket lines for months outside offices including Netflix and Disney and -- having been joined by striking actors in mid-July -- bringing the entertainment industry to a highly expensive standstill. After a lengthy negotiating session Thursday, the WGA wrote to members that talks would continue again the next day, and urged "as many of you as possible to come out to the picket lines" Friday, where the usual protest hours were extended into the early afternoon. The heads of Netflix, Disney, Universal and Warner Bros Discovery have personally attended this week's talks, and were expected to return Friday for a third day, according to Deadline. Analysts say that unusual step could indicate that a deal is close -- or simply a renewed sense of urgency to end a walkout that is preventing work from resuming on a wide array of film and TV projects, leaving studios and networks with vast looming gaps in their release schedules. Among their demands, writers say their salaries have not kept up with inflation, and that the rise of streaming has diminished the "residuals" they earn when a show they work on becomes a smash hit. Studios have offered greater transparency in streaming audience numbers, while stopping short of offering to revise the way residual payments are calculated. Writers have also demanded curbs on the use of AI, which they fear could be used to partially replace them in generating future films or show scripts, and therefore further undercut their pay. This remains a key sticking point between the two sides, according to reports in Hollywood trade publications this week. At 144 days and counting, the WGA strike is already significantly longer than the writers' 2007-08 walkout -- which lasted 100 days and cost the California economy $2.1 billion. The Financial Times reported Milken Institute research at the start of September that put the cost of the current Hollywood standstill at $5 billion. It is approaching the union's longest-ever industrial action, which lasted for 154 days in 1988. Even if the writers agree to a new deal, the actors' strike would continue. There have been no known contract talks between the studios and the actors' 160,000-strong SAG-AFTRA guild since that strike began. But the two unions share many similar demands, and insiders say that a WGA deal could help to pave the way for a resolution to the actors' strike. The post Hopes rise for end to Hollywood writers’ strike as talks extend appeared first on Daily Tribune......»»
The Murdoch business: an empire on three continents
Over the last six decades, Rupert Murdoch built a media empire well beyond his native Australia, amassing key media properties across three continents in a run that was also characterized by multiple scandals. Through his companies, News Corp and Fox Corporation, Murdoch built one of the world's most substantial portfolios of newspaper and broadcast holdings under one roof. Murdoch's wealth was estimated at $17.3 billion by Forbes on Thursday when he announced he was handing the reins to his son Lachlan while shifting to an "emeritus" status at the two companies. Here is a closer look at the two businesses. News Corp The business includes Murdoch's holdings in his birth country of Australia -- led by The Australian, the lone national daily started by Murdoch in 1964. The company also owns Australia The Daily Telegraph and news website News.com.au, as well as television station Sky News Australia and pay television company Foxtel. Murdoch's initial investment in Britain came in 1969 with the purchase of the tabloid News of the World, which was shut down in 2011 following a phone hacking scandal. In 1981, he purchased the prestigious daily The Times, along with The Sunday Times, adding to a print news business that also included The Sun. Holdings in radio and television included talkSPORT, TalkTV, and Virgin Radio UK. News Corp is also present in Ireland with local radio stations. Murdoch's push in North America dates to 1985 with his purchase of the New York Post. In 2007, News Corp landed a major acquisition of the media group Dow Jones, whose holdings include the long-respected Wall Street Journal. The company in 1987 added the publishing house HarperCollins, which originally dates to 1817. HarperCollins bought romance publisher Harlequin in 2014. News Corp also controls Rea Group, which specializes in commercial and residential real estate through websites such as realtor.com and flatmates.com.au. In fiscal 2023, News Corp reported profits of $149 million on revenues of $9.9 billion. Fox Corporation In 1984, Murdoch acquired 20th Century Fox, an entity he reorganized and remade. In 2017, he sold the movie studio, renamed 21st Century Fox, to Disney. Fox Corporation is now comprised of the national television channel Fox and several cable channels, as well as Fox News, which is known for a right-wing spin on news popular with conservative Americans. Other holdings include the entertainment news network TMZ, as well as Studio Ramsay Global, which features British celebrity chef Gordon Ramsay and the MasterChef franchise. In fiscal 2023, Fox reported profits of $1.3 billion on $14.9 billion in revenues. The post The Murdoch business: an empire on three continents appeared first on Daily Tribune......»»
BayaniPay expands North American reach
Backed by an additional funding round of $2.1 million, Filipino-owned financial technology firm BayaniPay is expanding its services in North America to better serve more Asian American immigrants. Speaking to reporters on Wednesday, BayaniPay CEO Winston Damarillo said the company will leverage the large concentration of Filipinos in Canada to grow its reach. Filipino immigrants in Canada recorded a population of almost one million in 2021, while Filipino immigrants in the United States or US numbered around 2 million, comprising more than 4 percent out of over 45.3 million US immigrants. “We aim to sustain this momentum and explore new territories. Our commitment towards improving and growing our platform is driven by the desire to make the lives of Filipinos easier, wherever they may be found,” Damarillo said. BayaniPay currently serves customers in California, Hawaii, New Jersey, and Alaska by allowing them to remit funds to their loved ones and make direct payments to service providers in the Philippines. Its platform allows customers to have easy access to a digital checking account, a debit card that maximizes their spending power, zero fee remittance fees, and market-leading forex rates. According to Damarillo, the company will utilize its new funding, which brought the total seed round of BayaniPay to $6.6 million to date, for the planned expansion. BayaniPay previously raised $4.5 million in seed funding, allowing it to scale its product features and explore new territories. During the first half of the year, BayaniPay saw its average transaction value surge to over P100 million per month, a huge jump from only P30.64 million in average transactions last year. Damarillo attributed this to the strong demand for cross-border payment solutions, including remittances as well as bill payments. BayaniPay thus targets to reach P1 billion in total transaction value before the end of the year. “We are on track to meet this milestone, as we continue to acquire more customers each month. The demand for BayaniPay continues to grow as more and more Filipinos see the value and benefit of convenience while allowing them to enjoy zero fees and competitive foreign exchange rates,” Damarillo said. Early this year, BayaniPay, in partnership with BDO Remit USA, launched its Buena Mano Rate program of $1 = P60 forex rate for its first-time remitters, which exponentially increased BayaniPay’s customer acquisition. The Buena Mano Rate program is applicable for up to $500 of every first remittance or first remittance in six months. BayaniPay plans to launch its loyalty program for active users this fourth quarter, which would grant them preferential high forex rates as incentives. As of end-June, BayaniPay recorded a 36-percent growth in new users. It is also strengthening its partnerships with other institutions to further expand its portfolio of services. BayaniPay targets to increase its current 10,000 user base to 100,000 in the next two years. The post BayaniPay expands North American reach appeared first on Daily Tribune......»»
Ransom seen in 5 Americans’ release
Republicans have described as “ransom payment” the Biden administration’s transfer to Tehran of $6 billion in frozen Iranian funds in exchange for the release of five Americans detained in Iran. Representative Mike McCaul, the Republican chair of the House Foreign Affairs Committee, said the transfer “creates a direct incentive for America’s adversaries to conduct future hostage-taking.” “The administration is demonstrating weakness that only further endangers Americans and freedom-loving people around the world,” he said. The White House confirmed Monday it had signed off on the transfer of the fund, South Korea’s payment for oil sold by Iran, which Seoul froze as per US sanctions on Tehran for its nuclear program. The US State Department said the money transfer is “a critical step in securing the release of Siamak Namazi, a businessman arrested in 2015 and accused of spying, wildlife conservationist Morad Tahbaz, venture capitalist Emad Sharqi and two others who wished to remain anonymous. “As we have said, no money is going to Iran directly and no taxpayer funds are being used. The funds held in South Korea are Iran’s funds,” the State Department spokesperson said. The official IRNA news agency had reported that five Iranians will also be released from the US as part of the deal announced last month. Iran foreign ministry spokesperson Nasser Kanani said Iran expects to have full access to its assets in the coming days. Once the funds are moved to an account in Qatar, the American prisoners fly out of Iran. WITH AFP The post Ransom seen in 5 Americans’ release appeared first on Daily Tribune......»»
G20 members to unveil EU-MidEast-India trade plan
Major G20 partners will unveil ambitious plans Saturday to bolster trade between India, the Middle East, and Europe, a modern-day Spice Route to bind regions that account for about a third of the global economy. Washington, Saudi Arabia, the EU, the United Arab Emirates, and others will sign an agreement on the sidelines of the G20 summit in New Delhi, presenting an alternative to China's wide-ranging strategic infrastructure investments. Officials told AFP the plan would include a slew of data, rail, electricity, and hydrogen pipeline projects. One proposed project would link railway and port facilities across the Middle East -- including the United Arab Emirates, Saudi Arabia, Jordan, and Israel -- potentially speeding trade between India and Europe by up to 40 percent. "The India – Middle East – Europe economic corridor" is "nothing less than historic" European Union leaders are expected to say when the details of the plans are unveiled later Saturday. The agreement would boost trade but is also seen as another significant step towards Arab Gulf states normalizing relations with Israel. Washington is actively prodding Riyadh -- a major oil producer and security partner -- to normalize ties with Israel after decades of conflict and closed borders. US involvement could also help mend deeply damaged ties between Riyadh and Washington, which frayed after the US-Iran nuclear deal and the 2018 murder of dissident journalist Jamal Khashoggi. The initiative "has enormous potential", according to Jon Finer, US deputy national security advisor. He said the public announcement would come after "months of careful diplomacy, quiet, careful diplomacy, bilaterally and in multilateral settings". The Europe-to-India project is still in the early stages, with participants studying how best to link India's vast 1.4 billion population and quick-growing economy with markets to the West. According to details seen by AFP, the India – Middle East – Europe economic corridor would also develop infrastructure to enable the production and transport of "green hydrogen". It would also strengthen telecommunications and data transfers through a new undersea cable connecting the region. Michael Kugelman, South Asia Institute director at The Wilson Center, said the plan could be a significant response to China's much-vaunted Belt and Road Initiative. The so-called BRI has spread Chinese influence, investments, and commerce across Europe, Africa, Asia and Latin America. "If finalised, it would be a game changer that strengthens connectivity between India and the Middle East and would aim to counter BRI," Kugelman posted on X, formerly known as Twitter. The post G20 members to unveil EU-MidEast-India trade plan appeared first on Daily Tribune......»»
Helmut Lang and Ralph Lauren kick off New York Fashion Week
Amid sweltering heat and jitters over the Hollywood strike, New York kicked off its Spring-Summer 2024 Fashion Week on Friday, with heavyweights Ralph Lauren and Helmut Lang returning to the industry's flagship event with fresh ideas. American luxury brand Coach unveiled its collection of sensual translucent dresses at the New York Public Library in Manhattan on Thursday, but the event was briefly disrupted by animal rights activists. As Vogue editor Anna Wintour and Jennifer Lopez watched the show, two female protesters from the animal rights group PETA -- one covered in body paint that mimicked animal flaying and another holding a poster that read "Coach: Leather Kills" -- joined the models on the runway before security led them away. At another unofficial kick-off event on Wednesday, featuring Naomi Campbell, Doja Cat, Naomi Osaka and Gigi Hadid, the iconic lingerie label Victoria's Secret teased a film meant to showcase the brand's new and more inclusive identity after it was criticized for designing garments that objectify women. The film, entitled "The Victoria's Secret World Tour," to be released on Amazon Prime at the end of September, highlights the work of creators and artists from Lagos, London, Bogota, and Tokyo. Yellow taxi This year, New York Fashion Week will feature young talents and emerging brands, along with heavyweights such as Ralph Lauren, Michael Kors, 3.1 Phillip Lim, Altuzarra, Gabriela Hearst, Carolina Herrera, Tory Burch, and Luar. The city will then pass the baton to London, Milan, and Paris. "New York has always been a cornerstone of Fashion Week," said Steven Kolb, CEO of the Council of Fashion Designers of America. "It really underscores how strong it is, in terms of presenting creative thinking." Under the humid heat of the New York summer, the six-day marathon kicked off Friday afternoon in Manhattan's Lower East Side with a show by Helmut Lang, who rose to fame in the 1990s and 2000s, thanks to the minimalist aesthetic of the Austrian artist. Helmut Lang, the designer, left fashion in 2005 but Helmut Lang, the brand, lives on, bought by Prada and then by the Japanese group Fast Retailing, which owns Uniqlo. The brand now returns to the runways of the Big Apple with a collection concocted by its new artistic director, Peter Do, widely considered a fashion prodigy. The show had nostalgic undertones, a bow to the 1990s when it became the first fashion brand to advertise on New York yellow taxi signs. Fewer red carpets Another brand to make its return on Friday, albeit in Brooklyn where many of the fashion shows have migrated, was Ralph Lauren, the legendary brand that defined American elegance and embodied preppy US style with an annual turnover of more than $6 billion. The brand, whose founder was born in the Bronx, has not held a show in New York since 2019. This fashion season is marked by the double strike of Hollywood screenwriters and actors seeking better compensation, which has reduced the number of red carpet previews to a minimum, thus depriving brands of a chance to dress stars and promote themselves in the process. "Certainly, the red carpet is a way to speak to the audience," said Kolb, adding that fashion shows were no less important. The "content that they create for social channels will contribute to a very loud, very visible Fashion Week," he added. The post Helmut Lang and Ralph Lauren kick off New York Fashion Week appeared first on Daily Tribune......»»
Climate change supercharged this summer’s record heat: study
Record-shattering temperatures that impacted billions of people in the northern hemisphere this summer were given a massive boost by human-caused climate change, an analysis showed Thursday. The new paper by the nonprofit Climate Central group examined the period from June to August 2023, finding that greenhouse gas emissions pumped into the atmosphere since the start of the industrial era made the heat waves that baked Asia, Africa, Europe and North America far more likely. Nearly half of the global population -- more than 3.8 billion people -- were exposed to 30 or more days of extreme heat worsened by climate change, while at least 1.5 billion people lived through such temperatures every day over those three months. "Virtually no one on Earth escaped the influence of global warming during the past three months," said Andrew Pershing, Climate Central's vice president for science. "In every country we could analyze, including the southern hemisphere where this is the coolest time of year, we saw temperatures that would be difficult -- and in some cases nearly impossible -- without human-caused climate change. Carbon pollution is clearly responsible for this season's record-setting heat." The analysis relied on peer-reviewed methods to determine the likelihood of daily temperatures in each country of the world with and without today's levels of carbon pollution. A similar approach has allowed scientists to identify the climate influence, or "fingerprint," of extreme weather events, including recently the fire prone weather conditions that led to this year's wildfires in Quebec. Climate Central has developed a Climate Shift Index (CSI) that ranges from -5 to 5, with positive levels indicating temperatures that are becoming more likely due to climate change. A CSI of level 0 means climate change had no detectable influence, while level 3 indicates it made the odds of recording a specific temperature in a given time and place three times greater. According to the team's calculations, 48 percent of the world experienced 30 days during June-August with a CSI level of 3 or higher, while 1.5 billion people had such heat over the whole summer. "There really is this divide between the countries that have been the most responsible for climate change for the pollution that is driving the heat that we're experiencing right now," said Pershing. The world's least-developed nations and small island states, he said, are experiencing heat that is three to four times more climate-supercharged than G20 countries with the largest economies. Global exposure meanwhile peaked on August 16, 2023, when 4.2 billion people worldwide experienced climate-caused extreme heat. "A big part of what we're trying to do with this analysis, is to really come up with ways to try to localize that climate, that experience that individuals are having with climate change," said Pershing. The post Climate change supercharged this summer’s record heat: study appeared first on Daily Tribune......»»
Heat stress could threaten health of one billion cows
By the end of the century, more than one billion cows worldwide could suffer from heat stress if global warming continues unabated, threatening their fertility, milk production, and lives, according to research published on Thursday. Nearly eight out of 10 cows across the planet are already experiencing excessively high body temperatures, spiked respiration rates, bowed heads, and open-mouthed panting -- all symptoms associated with severe heat stress, the study said. In tropical climates, 20 percent of cattle endure those symptoms year-round. These numbers are projected to balloon if cattle farming continues to expand in the Amazon and Congo basins, where temperatures are on track to rise more quickly than the global average. If emissions of climate-heating greenhouse gases continue to rise, the study predicts heat stress will become a year-round problem in Brazil, southern Africa, northern India, northern Australia, and Central America by 2100. "A very important determinant of how many cows are exposed to this heat is decisions about land-use change," lead author Michelle North of the University of KwaZulu-Natal in South Africa told AFP. "Deforestation of tropical forests for livestock expansion is not a viable development future, because it makes climate change worse and will expose hundreds of millions more cattle to severe heat stress," she added. The study, published in Environmental Research Letters, found that in a worst-case scenario, cattle husbandry will nearly double in Asia and Latin America and increase more than fourfold in Africa. Losing livelihoods If greenhouse gases are curbed sufficiently -- including by cutting the use of fossil fuels and by limiting the expansion of cattle farming -- the number of cows suffering could be reduced by half in Asia and by four-fifths in Africa. Commercial ranchers stand to lose a lot of money from heat stress. It already costs as much as 1.7 billion dollars annually in the United States alone. But these farmers usually have insurance, good relations with banks, and the ability to draw on loans to help them recover from heat-related losses, said North. When heat or other climate disasters hit small-scale farmers, however, "it can lead to farmers literally losing their livelihoods, even if the net losses may appear 'negligible'", she said. North and her team found that global milk supplies would be reduced by 11 million tonnes per year by 2050 under a high greenhouse gas emission scenario. If emissions are aggressively reduced, nearly half of that amount would still be lost, mostly in Asia and Africa, where milk supplies are already low. In the near term, overheated cows can be helped by providing them with access to shade and fans, and feeding them earlier in the day. The post Heat stress could threaten health of one billion cows appeared first on Daily Tribune......»»
Biden widens web of US alliances faced with China, Russia, Trump
With a historic three-way summit with Japan and South Korea, President Joe Biden has further deepened the web of US partnerships in a determined signal to adversaries despite question marks on the political climate at home. Since Biden took office in 2021, NATO has expanded and mostly closed ranks over Russia's invasion of Ukraine -- and, in clear if unstated responses to an assertive China, the United States forged a new three-way defense pact with Australia and Britain and ramped up work through the four-way Quad involving Australia, India and Japan. The United States already has security alliances with Japan and South Korea, together the bases for some 84,500 troops, but will now also plan three-way, multi-year military exercises across all domains along with real-time information-sharing and a crisis hotline. Jon Alterman, a senior vice president at the Center for Strategic and International Studies, said that alliances were "baked" into the mindset of Biden, who was a senator at the end of the Cold War. Partnerships can increase other countries' faith in the direction of the United States, Alterman added. "This administration believes deeply in the centrality -- not the importance, the centrality -- of partnerships," he said. "The challenge is, all of our partners remember the previous administration, they look at the polling numbers, and they have absolutely no confidence in where the US is going to be in two years' time, five years' time or 10 years' time," he said. Previous president Donald Trump loudly questioned the value of alliances, insisting that countries such as Germany and South Korea were not paying enough for the US troop presence and scoffing at NATO's commitments of mutual defense to all allies. Trump is again seeking the White House and recent opinion polls have also shown softening support for US military assistance to Ukraine, which has totaled $43 billion since Russia's attack. Asked about Trump at a news conference with South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida at the Camp David presidential retreat, Biden said that his predecessor's "America First policy, walking away from the rest of the world, has made us weaker, not stronger." "America is strong with our allies and our alliances, and that's why we will endure," Biden said. Tougher task in Asia Whereas in Europe the United States has led a common defense for decades under NATO, in Asia -- seen by Biden as the critical region -- Washington has navigated individual alliances with Japan, South Korea, the Philippines, Australia and Thailand. One reason for the hodgepodge has been historical animosity between Japan and South Korea, with the Camp David summit until recently unthinkable. Yoon has turned the page by resolving a dispute over Japan's wartime forced labor of Koreans. Yoon, Kishida and Biden said they shared the same vision of a "rules-based international order" -- a nod to China's muscle-flexing in Asia but also to Ukraine, of which Japan and South Korea have been prominent non-Western supporters. China denounced the Camp David initiative, with state media saying the United States was raising tensions by creating a "mini-NATO," although there was no three-way mutual defense promise. Shihoko Goto, acting director of the Asia program at the Wilson Center, doubted that the three countries were even aspiring to collective self-defense but said their new cooperation was part of an "interweaving" with existing alliance arrangements. "As a single thread it may be weak, but because it is going to be part of that fabric and making it into a multi-layered approach, it would actually be really strong," she said. Risks await Biden has also moved bilaterally with countries concerned about Russia and China. He has said he plans to travel shortly to boost ties with Vietnam, whose tensions with Beijing run deep. But one of his big bets, India, has stood firm on its historic refusal to join alliances and is also taking part this week in a summit with Russia and China of the BRICS bloc of emerging economies. Trump is not the only wild card for the future. In South Korea, Yoon is only allowed a single term, which ends in 2027. "If an ultra-leftist South Korean president and an ultra-right wing Japanese leader are elected in their next cycles, or even if Trump or someone like him wins in the US, then any one of them could derail all the meaningful, hard work the three countries are putting in right now," said Duyeon Kim, an adjunct senior fellow at the Center for a New American Security. The post Biden widens web of US alliances faced with China, Russia, Trump appeared first on Daily Tribune......»»