Category: General

DAVOS: Businesses worldwide face potential losses of up to 7 percent of their annual earnings by 2035 due to increasing climate risks, according to reports released by World Economic Forum (WEF). The reports, unveiled on Wednesday, underscore the urgency of addressing climate-related challenges, warning that failure to act could result in disruptions comparable to the Covid-19 pandemic every two years. According to Philippines News Agency, the reports identify telecommunications, utilities, and energy industries as particularly vulnerable to climate hazards. Extreme heat and other climate-induced disasters are expected to cause annual fixed asset losses ranging from USD560 to USD610 billion for

MANILA: The Department of Social Welfare and Development (DSWD) has expressed approval for the reinstatement of the budget for the Ayuda para sa Kapos ang Kita Program (AKAP), as confirmed on Thursday. The bicameral conference committee recently approved the final iteration of House of Representatives Bill 10800, which outlines a proposed PHP6.352 trillion national budget for 2025, inclusive of the PHP26 billion restored for AKAP. According to Philippines News Agency, DSWD spokesperson, Assistant Secretary Irene Dumlao, highlighted the department’s satisfaction with the assurance of budget allocation, emphasizing its importance for the uninterrupted delivery of social welfare services. Dumlao noted the

QUEZON CITY: President Ferdinand R. Marcos Jr. has urged local government units (LGUs) to intensify their efforts against illegal Philippine offshore gaming operators (POGOs), emphasizing the importance of vigilance and collective action. Speaking at the 2nd Joint National Peace and Order Council-Regional Peace and Order Councils meeting at Camp Crame, Marcos outlined the need for coordinated efforts to address the myriad issues associated with POGOs. According to Philippines News Agency, President Marcos has instructed law enforcement agencies, including PAGCOR, PAOCC, PNP, and CIDG, to ramp up their operations against illegal POGO and internet gaming licensees. He also called on LGUs

MANILA: Almost half of Filipinos believe their economic situation has improved since the Covid-19 pandemic, according to a report titled “Cost of Living Monitor” by market research company Ipsos. The survey, conducted over two weeks in late October and early November, indicated that 49 percent of Filipinos feel financially better off compared to early 2020, prior to the global pandemic. According to Philippines News Agency, the survey involved 22,720 participants from 32 countries, including 500 from the Philippines. Of those who reported an improved financial situation, 17 percent felt “much better off,” while 32 percent felt “a little better off.”

MANILA: Vice President Sara Duterte has been urged to comply with the rule of law and due process, as emphasized by a senior Department of Justice (DOJ) official, following her absence from a National Bureau of Investigation (NBI) hearing concerning alleged threats against key political figures. According to Philippines News Agency, Justice Undersecretary Jesse Hermogenes Andres expressed the importance of public officials upholding the rule of law by participating in legal proceedings. Andres’ remarks come after Duterte failed to attend an NBI session on Wednesday, where she was expected to submit an affidavit regarding alleged threats towards President Ferdinand R.