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IMF warns against global economic fragmentation from Russia-Ukraine war

Army soldier figurines are displayed in front of the Ukrainian and Russian flag colors background in this illustration taken, Feb. 13, 2022. — REUTERS/DADO RUVIC/ILLUSTRATION

THE INTERNATIONAL Monetary Fund (IMF) warned against global economic fragmentation as a consequence of Russia’s invasion of Ukraine, saying that undoing decades of integration will make the world poorer and more dangerous.

Nations should lower trade barriers to alleviate shortages and lower prices, after more than 30 countries restricted trade in food, energy and other key commodities, IMF Managing Director Kristalina Georgieva said.

Ms. Georgieva made the comments in a blog post with Gita Gopinath, the fund’s first deputy managing director, and Ceyla Pazarbasioglu, the head of the strategy, policy and review department, ahead of the World Economic Forum in Davos, Switzerland this week.

Countries should diversify imports to secure supply chains and reduce output losses from interruptions, they said. The Group of 20 (G20) biggest economies also should improve its common framework for dealing with debt restructuring to help deal with vulnerabilities, the officials wrote.

“The costs of further disintegration would be enormous across countries,” they said. “And people at every income level would be hurt — from highly paid professionals and middle-income factory workers who export, to low-paid workers who depend on food imports to survive. More people will embark on perilous journeys to seek opportunity elsewhere.”

Bloomberg Economics last week released the results of a simulation of what an accelerated reversal of globalization might look like in the longer term. It points to a significantly poorer and less productive planet, with trade back at levels before China joined the World Trade Organization. An additional blow: inflation would likely be higher and more volatile.

Cross-border payment systems should be modernized, with countries working together to create a public digital platform for handling remittances to reduce cost and improve safety, the IMF officials wrote. And nations must collaborate to confront climate change, they said. — Bloomberg

Sri Lankan medicine shortage a death sentence for some, doctors say

TOWFIQU BARBHUIYA-UNSPLASH

COLOMBO — A shortage of medicine caused by an economic crisis in Sri Lanka could soon cause deaths, doctors said, as hospitals are forced to postpone life-saving procedures for their patients because they do not have the necessary drugs.

Sri Lanka imports more than 80% of its medical supplies but with foreign currency reserves running out because of the crisis, essential medications are disappearing from shelves and the healthcare system is close to collapse.

At the 950-bed Apeksha cancer hospital on the outskirts of the commercial capital, Colombo, patients, their loved ones and doctors feel increasingly helpless in the face of the shortages which are forcing the suspension of tests and postponement of procedures including critical surgery.

“It is very bad for cancer patients,” said Dr. Roshan Amaratunga.

“Sometimes, in the morning we plan for some surgeries (but) we may not be able to do on that particular day … as (supplies) are not there.”

If the situation does not improve quickly, several patients would be facing a virtual death sentence, he said.

Sri Lanka is grappling with its most devastating economic crisis since independence in 1948, brought about by COVID-19 battering the tourism-reliant economy, rising oil prices, populist tax cuts and a ban on the import of chemical fertilizers, which devastated agriculture.

A government official working on procuring medical supplies, said about 180 items were running out, including injections for dialysis patients, medicine for patients who have undergone transplants and certain cancer drugs.

The official, Saman Rathnayake, told Reuters that India, Japan and multilateral donors were helping to provide supplies, but it could take up to four months for items to arrive.

In the meantime, Sri Lanka has called on private donors, both at home and abroad, for help, he said.

‘TREMENDOUS FEAR’
Doctors say they are more worried than the patients or their relatives, as they are aware of the gravity of the situation and the consequences.

Referring to the ubiquitous queues for petrol and cooking gas, Dr. Vasan Ratnasingam, a spokesman for the Government Medical Officers’ Association, said the consequences for people awaiting treatment were so much more dire.

“If patients are in a queue for drugs, they will lose their lives,” said Ratnasingam.

The mother of Binuli Bimsara, a four-year-old girl being treated for leukemia, said she and her husband were terrified.

“Earlier, we had at least some hope because we had the medication but now we are living under tremendous fear,” the mother said.

“We are really helpless; our future is really dark when we hear about a shortage of medicines. We don’t have money to take our child abroad for treatment.”

Indian authorities delivered 25 tons of medical supplies, along with other aid, on Sunday, officials said.

“At no time has India assisted any other country to this extent … This is something for which we are deeply grateful,” Sri Lanka’s foreign minister, G.L. Peiris, said at Colombo’s port as he stood by a vessel bringing in thousands of sacks of supplies.

“This is probably the most difficult period that Sri Lanka has had to face since independence.” — Reuters

Beijing urges millions to keep working from home amid COVID outbreak menace

A GENERAL VIEW shows Beijing’s skyline on a sunny day in this file photo. — REUTERS

BEIJING/SHANGHAI — Beijing authorities extended work-from-home guidance for many of its 22 million residents to stem a persistent coronavirus disease 2019 (COVID-19) outbreak, while Shanghai deployed more testing and curbs to hold on to its hard-won ‘zero COVID’ status after two months of lockdown.

On Monday, the Chinese capital reported 99 new cases were detected on May 22, up from 61 the previous day — the largest daily tally so far during a month-old outbreak that has consistently seen dozens of new infections every day.

In Shanghai fewer than 600 daily cases were reported for May 22, with none outside quarantined areas, as there has been the case for much of the past week.

Analysts at Gavekal Dragonomics estimated last week that fewer than 5% of Chinese cities were reporting infections, down from a quarter in late March, in a COVID outbreak that has cast a pall over growth in the world’s no. 2 economy. But vigilance, and concern, remains acute in Shanghai and the capital.

While there were no new announcements of areas being closed in Beijing, five of the city’s 16 districts advised residents to work from home and avoid gatherings. Those who have to go to work should have a negative result on a PCR test taken within 48 hours, and must not deviate from their home-to-work commute.

“The city’s epidemic prevention and control is at a critical moment,” Beijing’s Tongzhou district posted on its WeChat account late on Sunday, asking residents who work in five other districts to do their jobs from home this week.

“One step forward and victory is in sight. One step back, and previous efforts would be wasted.”

‘MASSIVELY HIT’
Beijing had already curtailed public transport, asked some shopping malls and other stores and venues to close and sealed buildings where new cases were detected.

In one large residential compound not under isolation orders, shelves have been set up for deliveries at the entrance, according to residents, fueling concern that preparation was in place for tougher controls on movement.

The curbs in Beijing, Shanghai and elsewhere in China are leaving behind significant economic damage and disruption to global supply chains and international trade.

The highly-transmissible Omicron variant of the virus first discovered in the city of Wuhan in late 2019 has proven hard to defeat even with strict measures that starkly contrast the resumption of normal life elsewhere in the world.

“We’ve been massively hit,” said a convenience store owner surnamed Sun, whose shop in Beijing has only been allowed to operate during daytime rather than its usual 24/7 hours.

“Even during the Wuhan outbreak we could stay open the whole time.”

In Shanghai, which reopened more than 250 bus routes and a small part of its sprawling subway system on Sunday, many towns and districts announced more mass testing for the coming days and asked residents not to leave their compounds.

The commercial hub of 25 million has allowed more people to leave their homes for brief periods over the past week, but it generally plans to keep most restrictions in place this month, before a lifting its two-month-old lockdown from June 1.

However, while more people are being allowed outside, several residents in various areas of Shanghai said they had been told of new infections in their vicinity that required new curbs on movement.

One resident in Hongkou district, which has not reported any new community-level cases since May 7, said he was told last week not to leave his flat, having been allowed to move within his compound previously.

Hongkou was among six districts which have announced some tightening of curbs in recent days to “consolidate” the results of their efforts so far.

But such moves made some people fear the virus was making a comeback.

The top comment on a post by state agency Xinhua on China’s Twitter-like Weibo post on Shanghai’s latest numbers read: “This can’t be accurate, zero COVID cases at community level? Our compound had one new case yesterday.”

Asked to comment, the Shanghai government said that all cases found in recent days were in “sealed” high-risk areas or quarantine centers, and that any community transmission cases would be announced on official channels. — Reuters

Smart is ‘operator to beat’ in the Philippines – Opensignal  

Leading mobile services provider Smart Communications, Inc. (Smart) has won the most number of citations in the latest Mobile Network Experience Awards by Opensignal, underscoring Smart’s superiority as the operator to beat with the widest 5G reach and best 4G coverage experience.

Opensignal’s April 2022 report, which covered the period Jan. 1 to Mar. 31, 2022, showed that Smart won a total of 11 awards, covering the essential aspects of service, especially speed and experience.

These awards include Best Overall Video Experience, Games Experience, Voice App Experience and Download Speed Experience across all technologies; Best 5G Games Experience, 5G Voice App Experience, 5G Download Speed and 5G Upload Speed Experience; Best 5G Availability, 5G Reach, and 4G Coverage Experience.

“These citations are a testament to our sustained investments in our network, and our combined efforts to continuously improve our customers’ experience,” said Al S. Panlilio, PLDT Inc. and Smart Communications President and CEO.

“As the economy reopens, our customers’ shifting needs will entail higher mobile usage. Opensignal’s report validates that we are best positioned to enable hybrid workplaces and online learning, the use of e-commerce and digital payments, and empower businesses to thrive in the post-pandemic next normal,” Panlilio added.

According to Opensignal, their users had their best experience when streaming video over mobile connections on Smart’s network, making Smart the outright winner of the Video Experience award.

The Opensignal study also showed that Smart users observed the fastest average 5G download speeds — 149.9 Mbps, making Smart the winner of the 5G Download Speed award and giving it a lead of 38.8 Mbps (35%) over its nearest competitor.

Smart has also continued its dominance in terms of 4G Coverage Experience. Opensignal said that Smart users were able to find a 4G signal in the most locations out of all the locations visited by their Filipino users and that as a result, Smart is the outright winner of the 4G Coverage Experience award.

“For the first time, we have directly compared the mobile network experience and the 5G experience of our Filipino users in the same report and in another first we have also analyzed the consistency of our users’ experience. Smart is once again the operator to beat in the Philippines,” said Sam Fenwick, Opensignal senior analyst and author of the report.

To support growing mobile data traffic, Smart has deployed base stations nationwide as of end-December 2021, supporting its 4G/LTE and 5G subscribers from Batanes to Tawi-Tawi. This includes around 16,900 3G base stations, 38,600 4G/LTE base stations and 7,200 5G base stations.

Opensignal Awards – Philippines: Mobile Network Experience Report April 2022, based on independent analysis of mobile measurements recorded during the period January 1 – March 31, 2022 © 2022 Opensignal Limited.

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With US help, Japan aims to go from player to power in space

The International Space Station. Image via nasa.gov

TOKYO — Space is a key area of cooperation for Japan with the United States, its closest ally, amid heightened tensions with an increasingly assertive China, which itself aims to become a space power. 

Tokyo has said it hopes to put one of its astronauts on the lunar surface — the first non-American — in the latter half of the 2020s as part of NASA’s Artemis program to return humans to the moon. 

Japan has an extensive space program, mainly focused on developing launchers and space probes. But it doesn’t have a human flight program and has relied on the United States and Russia to carry its astronauts into space. More Japanese have visited the International Space Station other than citizens of the United States and Russia. 

Space cooperation is likely to come up during US President Joseph R. Biden, Jr.’s meeting with Japanese Prime Minister Fumio Kishida, Kyodo news has reported. Mr. Biden is visiting Tokyo this week as part of his first Asian trip since taking office. 

Japan’s space ambitions, and investment, are welcome by the United States as it tries to stay ahead of China in a potential new space race. Beijing plans to complete its first space station by the end of this year. 

Japan’s space agency, JAXA, last year reopened astronaut recruitment for the first time in more than a decade to revive its pool of aging astronauts. 

Japan is due to help the European Space Agency (ESA) build the main habitat module of the US-planned orbiting lunar outpost, Gateway, that will be used in moon landings. 

Japan also built the Kibo experiment module on the International Space Station and resupply missions have been lifted into space by its heavy launch rockets. 

Japan’s aerospace industry was dismantled at the end of World War Two but it has fostered its space industry through industrial heavyweights such as Mitsubishi Heavy Industries and Mitsubishi Electric. 

MHI rockets launching from the Tanegashima Space Centre off the southwestern island of Kyushu have delivered payloads including the Michibiki satellites that have bolstered the US global positioning system (GPS) in Asia. 

The launch of the new H3 rocket being developed by MHI and JAXA was delayed earlier this year due to engine problems. 

The growth of the US private space industry centered on companies such as Elon Musk’s SpaceX has transformed the market for launch services. 

Japan also aims to cultivate its space startup scene with businesses including space debris removal company Astroscale and Ispace, which is developing landers and rovers for lunar exploration. 

Billionaire Yusaku Maezawa became the first private passenger to visit the ISS in more than a decade after launching on a Soyuz rocket in December. — Reuters

Australia’s new PM Albanese sworn in, ahead of Quad meet

REUTERS
Anthony Albanese, leader of Australia’s Labor Party, addresses supporters after incumbent Prime Minister and Liberal Party leader Scott Morrison conceded defeat in the country’s general election, in Sydney, Australia May 21, 2022. — REUTERS

SYDNEY — Australia’s Labor Party leader, Anthony Albanese, was sworn in as the country’s 31st prime minister on Monday, promising to bring the country together after a fractious election campaign as he vowed to tackle climate change and inequality. 

Labor returned to power after nine years in opposition as a wave of unprecedented support for the Greens and climate-focused independents, mostly women, helped end nearly a decade of rule by the conservative coalition in Saturday’s general election. 

“I look forward to leading a government that makes Australians proud, a government that doesn’t seek to divide, that doesn’t seek to have wedges but seeks to bring people together,” Mr. Albanese said during his first media briefing after taking charge as the prime minister. 

Although votes are still being counted and the makeup of government has yet to be finalized, Mr. Albanese was sworn in by Governor-General David Hurley at a ceremony in the national capital, Canberra so he could attend a key meeting of the “Quad” security grouping in Tokyo on Tuesday. 

India, the United States, Japan, and Australia are members of the Quad, an informal group that Washington has been promoting to work as a potential bulwark against China’s increasing political, commercial and military activity in the Indo-Pacific. 

Mr. Albanese said the country’s relationship with China would remain “a difficult one” ahead of the summit with US President Joseph R. Biden, Jr., and the prime ministers of Japan and India. 

Deputy Labor leader Richard Marles and three key ministers — Penny Wong in foreign affairs, Jim Chalmers as treasurer and Katy Gallagher in finance — were also sworn in, with Wong to join Albanese on the Quad trip. 

WORKING CLASS CARD
Labor’s campaign heavily spotlighted Mr. Albanese’s working-class credentials — a boy raised in public housing by a single mother on a disability pension — and his image as a pragmatic unifier. 

Center-left Labor still remains four seats short of a majority of 76 in the 151 seat lower house, with about a dozen races too close to call, according to television channels. 

Independents or Green party looked set to win at least 15 seats, ABC election analysts projected. 

So-called “teal independents” campaigning in affluent, Liberal-held seats on a platform of climate, integrity and equality, could hold significant sway. 

Monique Ryan, an independent who looked to have unseated outgoing Treasurer Josh Frydenberg, said climate was the most important issue to constituents in her seat. 

“We listened to what people wanted, we listened to their values and their desires, and we put together a platform that reflected those.” 

Mr. Albanese said he hoped Labor would get enough seats to govern on their own but added he had struck deals with some independents in which they would not support no-confidence motions against his government. The swearing-in of the full ministry will happen on June 1, he said. 

Official results could be several days away, with the counting of a record 2.7 million postal votes under way. 

Australian financial markets offered a muted reaction to the election verdict on Monday, with the outcome already priced in and no radical change in economic course expected. 

“Our economic forecasts and call on the (Reserve Bank of Australia) are unchanged despite the change of national leadership,” economists at Commonwealth Bank of Australia said. — Renju Jose/Reuters

Millions at risk as India’s severe heatwave exposes cooling gaps

UNSPLASH

NOIDA, India — As the scorching sun beat down on his fruit cart, Mohammad Ikrar dreaded another day of tossing out dozens of rotting mangoes and melons — a regular practice now as India grapples with an unprecedented heatwave.

The 38-year-old does not own a refrigerator, meaning his fruit quickly spoils. By the end of the day, any leftover produce is usually only good to be fed to passing stray cows. 

Since April, Mr. Ikrar said he has lost up to 3,000 rupees ($39) a week — nearly half of his average weekly earnings. 

“This heat is torturous. But if I want to buy an AC (air conditioner) or fridge one day, I have to do this,” said Mr. Ikrar, wearing a full sleeve shirt and white headwrap to keep cool in the 44 degrees Celsius (111.2F) heat. 

At home, Mr. Ikrar and his family suffer hours-long power cuts day and night, rendering the ceiling fan useless in their one-room house in Noida, a satellite city of New Delhi. 

He sends all three of his children to a school fitted with air coolers for “respite” from the heat. 

“I sweat all day, then sweat all night. There is no way to properly cool off. I haven’t experienced anything like this since I moved here eight years ago,” he said. 

Mr. Ikrar provides a snapshot of the threat Indians face from a lack of access to cooling amid widespread blackouts. 

Almost 323 million people across the country are at high risk from extreme heat and a lack of cooling mechanisms such as fans and refrigerators, found a report released on Tuesday by Sustainable Energy for All (SE4ALL), a UN-backed organization. 

India topped a list of “critical” countries, also including China, Indonesia, and Pakistan, which have the largest populations facing heat-related dangers ranging from immediate overheating deaths to impacts on food security and livelihoods. 

Temperatures in the New Delhi area soared above 49C (120F) in some regions last week after India recorded its hottest March in 122 years and an unusually hot April. 

Temperatures are expected to cool as monsoon rains arrive in June. 

‘WORRYING URBAN TRENDS’ 

India’s electricity demand has hit a record high with a surge in the use of air conditioning triggering the worst power crisis in more than six years. 

But, like Mr. Ikrar, not everyone can beat the heat. 

Although nearly all households in India have access to electricity, only a fraction of its 1.4 billion population owns any cooling appliances, found SE4ALL. 

As demand for cooling appliances will soar in coming years, it will also add pressure to India’s overstretched electricity systems and lead to a potential increase in emissions, said Brian Dean, head of energy efficiency and cooling at SE4ALL. 

“(This) in turn further exacerbates the risk of longer and more extreme heatwaves,” he told the Thomson Reuters Foundation. 

He urged authorities to quickly implement the India Cooling Action Plan, launched in 2019, which aims to cut cooling demands by up to 25% by 2038 through measures including developing new cooling technology and designing buildings with natural airflow. 

Scientists have linked the early onset of an intense summer to climate change, and say more than a billion people in India and neighboring Pakistan are in some way at risk from the extreme heat. 

SE4ALL found Pakistan’s largest city of Karachi — along with many others including Mumbai and Dhaka in South Asia — are among those most at risk from inadequate cooling. 

Farhan Anwar, a Karachi-based urban planning consultant, said the city’s poor were the main victims of extreme heat, likely caused by the so-called “urban heat island effect” in which concrete-heavy landscapes push up temperatures. 

“Unplanned densification, automobile intensive mobility choices and rapidly reducing green cover are worrying urban trends,” Mr. Anwar said, calling for action to boost green spaces. 

ACTION NEEDED 

In India, government data shows at least 25 people have died from heat stroke since late March, the highest toll in the past five years. 

The official number is just “the tip of the iceberg”, said Dileep Mavalankar, head of the Indian Institute of Public Health, a private university in Gandhinagar in the western state of Gujarat. 

Heat is a largely invisible killer which can be hard to pinpoint as a cause of death, he said, especially as it often affects elderly and unwell people and can be caused by indirect exposure such as being trapped in small, poorly ventilated homes. 

Such indirect exposure cases make up about nine in 10 heat deaths, he said, with India likely counting only about 10% of the true total. 

Mr. Mavalankar helped implement South Asia’s first Heat Action Plan (HAP) in Ahmedabad in Gujarat in 2013, after the city saw more than 1,300 deaths in a 2010 heatwave. He credited the HAP for saving up to 1,200 deaths every summer. 

The HAP, which includes early warning text messages to mobile phones, has expanded to nearly two dozen heatwave-prone states and more than 130 cities and districts. 

The plan also directs people to seek respite from heatwaves in “cooling centers” such as air-conditioned public buildings, shops and malls, temples, and parks. For some, they can be life-saving. 

Mr. Mavalankar and SE4ALL’s Mr. Dean both called for the broader use of “cool roofs” with reflective surfaces or coatings to reduce temperatures in low-income and informal housing. 

From building heat-resistant homes to creating more green spaces, Mr. Mavalankar said prompt action is needed to help the poor and vulnerable survive a hotter world. 

“Temperatures may increase by three to five degrees in coming summers,” he warned. 

“We have to prepare right now.” ($1 = 77.6850 Indian rupees) — Annie Banerji/Thomson Reuters Foundation

 

What is on (and off) the agenda of the WHO Assembly?

IMAGE VIA WHO/P. VIROT

GENEVA — More than 100 world health ministers will meet in Geneva next week for the first in-person assembly of the World Health Organization (WHO) in three years as the United Nations agency seeks to define its future role in global health policy.

The agenda of the World Health Assembly (WHA) is the most packed in the WHO’s 75-year history and is seen as an historic opportunity to move on from the coronavirus disease 2019 (COVID-19) pandemic, which has led to 15 million deaths, and prepare for the next global outbreak. 

However, many of the most pressing topics, such as reforms of the rules around disease outbreaks, will be postponed for later or discussed only in the corridors. 

Here’s a summary of what will and won’t be discussed: 

ON THE AGENDA

  • WHO FUNDING BOOST

Donors agreed on a “pivotal” deal last month to gradually raise their mandatory contributions to the WHO budget to reach 50% of the budget by 2028–2029 or 2030–31. In return, the WHO agreed to study their reform proposals. 

Currently, their set fees represent just a fraction (16%) of the WHO’s total budget, which means it cannot fund some programs since the money is earmarked for donors’ pet projects. The assembly is expected to approve the deal on Tuesday. 

  • RE-ELECTION OF TEDROS

WHO’s Ethiopian Director-General Tedros Adhanom Ghebreyesus is all but certain to be re-elected via a secret ballot on Tuesday, having overcome criticism from his own government and a crisis last year following sexual abuse reports against WHO staff in Congo. 

During the assembly, Mr. Tedros is also set to renew the global health agency’s main “triple billion” goals that aim to boost universal health coverage, improve health and well-being and protect people better in health emergencies. 

  • UKRAINE

The WHO’s Europe region passed a resolution against Russia this month and asked Mr. Tedros to prepare a report on Ukraine’s health emergency. 

Members are also preparing a resolution to be submitted to the assembly, although diplomats say it will stop short of suspending Russia’s voting rights, as some initially sought. 

  • IHR REFORMS

Reforms to the legally-binding rules that govern countries’ obligations on public health emergencies, the International Health Regulations (IHR), will be raised. 

However, the focus will be on a US-led effort to expedite the application of future reforms from 24 months to 12 months, WHO principal legal officer Steve Solomon said. 

Negotiations on other proposed changes will take place later amid initial opposition from some members, diplomats said. 

OFF THE AGENDA

  • COVID ORIGINS

The WHO tasked a scientific advisory panel with probing the origins of the SARS-CoV-2 virus after a preliminary investigation into early COVID-19 cases in China last year left some questions unanswered. A WHO spokesperson said the panel’s report was expected soon but would not be released as part of the assembly. 

  • REFORM OF RULES

Most of the IHR reform negotiations will take place in the two years following the meeting, diplomats say. 

These include sensitive items proposed by Washington like the deployment of expert teams to outbreak sites and a new compliance committee to monitor implementation of the rules, a WHO document showed. 

Russia has also submitted reforms, diplomats say. 

  • PANDEMIC TREATY

The IHR are widely seen as insufficient for dealing with a global pandemic and Mr. Tedros is seeking a new pandemic treaty. Proposals for the new pact might include rules on vaccine-sharing and a proposed ban on wildlife markets. 

Negotiations are set to continue in June and a final treaty, whose legal status is yet to be determined, would not be ready until 2024. 

  • PANDEMIC FUND

The Group of 20 (G20) has agreed to set up a multi-billion-dollar global fund for pandemic preparedness that will be set up outside of the WHO, probably at the World Bank. WHO’s role in the fund is still being decided and it is not on the agenda for the assembly. — Emma Farge and Jennifer Rigby/Reuters 

 

Ukraine top of the agenda in Davos as business leaders gather

World Economic Forum / Benedikt von Loebell

DAVOS, Switzerland — Russia would normally have its own “house” at the World Economic Forum (WEF) as a showcase for business leaders and investors.

This year the space on the dressed-up main street in Davos has been transformed by Ukrainian artists into a “Russian War Crimes House,” portraying images of misery and devastation. 

Russia has denied allegations of war crimes in the conflict. 

Ukraine is top of the agenda for the four-day meeting of global business leaders, which kicks off in earnest on Monday with a video address by Ukrainian President Volodymyr Zelenskyy. 

“This is the world’s most influential economic platform, where Ukraine has something to say,” Mr. Zelenskyy said in his daily video address on Sunday night. 

As the WEF meeting emerges from a coronavirus pandemic hiatus of more than two years, a deferral from January to May means that attendees are surrounded by spring flowers and verdant slopes rather than navigating icy streets. 

But not only the weather is different in 2022, with Russian politicians, executives and academics entirely absent. 

Russian institutions such as its sovereign wealth fund, state banks and private companies have in previous years thrown some of the most glitzy parties, serving black caviar, vintage champagne and foie gras. 

They even hired Russia’s most prominent musicians and pop stars to perform for top chief executives. 

MARKET MELTDOWN 

Aside from the Ukraine crisis, the post-pandemic recovery, tackling climate change, the future of work, accelerating stakeholder capitalism and harnessing new technologies are among the topics scheduled for discussion at Davos. 

European Commission President Ursula von der Leyen, German Chancellor Olaf Scholz and NATO Secretary-General Jens Stoltenberg are among the leaders due to address the meeting. 

On the business agenda, discussions are likely to focus on the souring state of financial markets and the global economy. 

After a sharp bounceback from the downturn triggered two years ago by the onset of the pandemic, there are now myriad threats to that recovery, leading the International Monetary Fund to downgrade its global growth forecast for the second time since the year began. 

Inflation due to hobbled supply chains emerged as a problem last year, particularly in the U.S. economy. 

That has been compounded since the beginning of 2022 by events including Russia’s invasion of Ukraine and waves of coronavirus disease 2019 (COVID-19) lockdowns across China that have stalled a recovery. 

‘DEFINE TOMORROW’ 

The Ukrainian artists are hoping to get their message of fighting for a better future to world leaders in Davos. 

Visitors are confronted by images such as a badly burned man in Kharkiv after Russian shelling and a film made up of thousands of pictures of dead civilians and bombed houses. 

“This is a place where all influencers and all decision-makers of the world come together,” the artistic director of the PinchukArtCentre in Kyiv, Bjorn Geldhof, told Reuters TV. 

“What is happening in Ukraine will define tomorrow.” 

Russian President Vladimir Putin calls the invasion of Ukraine a “special military operation” to disarm the country and rid it of radical anti-Russian nationalists. 

Ukraine and its allies have dismissed that as a baseless pretext for the nearly three-month war, which has killed thousands of people, displaced millions and shattered cities 

While the WEF meeting may not be back to pre-pandemic levels, with Zurich’s airport expecting the number of flights to be about two-thirds of previous levels, its return comes as a welcome relief to the ski resort’s hotels and restaurants. 

“It is another step back to normality,” Samuel Rosenast, spokesperson for the local tourism board, said last week. —  Sabine Siebold/Reuters

 

At least seven dead after blaze on Philippine passenger ferry

The remains of the MV MERCRAFT 2 is seen at Baluti Island, Brgy. Cawayan, Real, Quezon, May 23. -- Courtesy of Philippine Coast Guard Facebook page

MANILA – Seven people have died after a high-speed Philippine ferry carrying 134 people caught fire on Monday, with seven passengers still missing, the coast guard said.The ship caught fire just before reaching the port of Real in Quezon province, about 60 km (37.28 miles) east of the capital Manila. It had left Polilio Island at 5:00 a.m. local time (2100 GMT Sunday) and made a distress call at 6:30 a.m.Five women and two men had died, while 120 passengers had been rescued, with 23 of them treated for injuries, the coast guard said in a statement.Pictures shared by the coast guard showed people in life vests floating at sea awaiting rescue, while some were taken to safety by a cargo ship in the area. Fire and thick smoke engulfed the two-storey passenger vessel.It was not immediately clear the cause of the fire, but the Philippines, an archipelago of more than 7,600 islands, has a poor record for maritime safety, with vessels often overcrowded and many vessels ageing.In 1987, around 5,000 people died in the world’s worst peacetime shipping disaster, when an overloaded passenger ferry Dona Paz collided with an oil tanker off Mindoro island south of the capital, Manila. — Reuters

ISOG commences 2022 METAVERSE I AM SECURE cybersecurity virtual forum series

The Information Security Officers Group (ISOG), the leading information security professional organization in the Philippines, successfully held on May 19 the first installment of its 2022 virtual cybersecurity forum series. With the theme Traversing Beyond the Realm of Cyberspace, the METAVERSE I AM SECURE forum gathered more than 500 C-level executives, local and international decision-makers, experts, and cyber leaders for an in-depth discussion on ensuring cybersecurity in the Metaverse.

In the first forum, ISOG focused on how information security professionals must gear up for protecting the banking industry in the Metaverse ecosystem. Highly exposed to cyber threats, financial institutions need to ensure that their cybersecurity capabilities are ready to safeguard institutions in the Metaverse.

“It is imperative that we keep ourselves informed with the new developments offered in the Metaverse, allowing us to be familiar not only with the opportunities it offers, but more importantly the challenges that come with it,” said Archie Tolentino, ISOG President and Land Bank of the Philippines Chief Information Technology Security Officer.

Cybersecurity professionals gained insights and motivation from the keynote speech of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno, Ph.D. The forum participants also learned about mixed reality and metaverse apps from the guest speaker, Microsoft Azure IoT Corporate Vice-President Sam George.

They also learned about the challenges, risks, technologies, and opportunities in the Metaverse from the informative presentations of the event sponsors. The roster of thought leaders who spoke during the forum include Trends and Technologies Inc. Chief Information Security Officer (CISO) Dennis Sanchez, CyCognito Tech Evangelist and Enable Manager Phillip Wylie, Checkmarx Director of Sales Engineering for Asia-Pacific (APAC), Middle East, and Africa LyeHee Tan, Efficient IP APAC Channel Account Manager Donald Teo, and F5 ASEAN Regional Distributed Cloud Specialist (through Westcon) Srinivas Rao.

“This event forum is a great avenue for stakeholders to discuss significant and pressing matters around the metaverse in the banking sector. Our strategic response in forming the standardized regulations in the metaverse for the industry helps us understand the perspectives and, consequently, design an effective solution that benefits all stakeholders,” said Chito Jacinto, ISOG Vice President, and Forum and Awards Chairman.

The forum delegates also participated in an engaging panel discussion entitled Entering the Metaverse Ecosystem, and Addressing Digital Safety in the Metaverse, wherein industry experts answered the delegates’ questions posted on the chat section of the virtual event. The panelists were the event speaker sponsors, Cycognito APAC Director of Sales Engineering Hans Barre, and Red Rock Security Chief Operating Officer Paul Prantilla. The panel discussion was moderated by ISOG Treasurer and CISO of PSBank Dan Duplito and ISOG Asst. Treasurer and CISO of Philippine Veterans Bank Alvin Punsalan.

Hundreds of delegates also won raffle items and received premium giveaways such as the ISOG self-heating hotbox meal & Virtual Reality box.

Organized by XMS, the Metaverse 2022 Forum Series is one of ISOG’s cybersecurity awareness programs in partnership with Banko Sentral ng Pilipinas, Bankers Association of the Philippines, National Privacy Commission, and the Department of Information and Communications Technology. ISOG’s media partners were Philippine Daily Inquirer, BusinessWorld, DIGI.PH, and Backend News.

The remaining events of the Metaverse forum series will be held virtually on June 23, July 2, and Sept. 1.

Since 2015, ISOG has been organizing programs and events to strengthen cybersecurity awareness and secure network infrastructure in the Philippines. For more details about ISOG and their campaigns, visit ISOG’s official website at www.isog-org.ph and socials at LinkedIn: ISOG (Information Security Officers Group), Facebook: ISOGPH, and YouTube Channel: ISOG SUMMIT.

 


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[B-SIDE Podcast] Trolls, TikTok, and the 2022 elections

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The use of social media platforms such as Facebook, Twitter, and YouTube during the 2022 elections in the Philippines has exacerbated polarization and personality-oriented politics.

In this B-Side episode, Jonathan C. Ong, associate professor of global digital media at the University of Massachusetts Amherst, explains to BusinessWorld senior reporter Arjay L. Balinbin how disinformation strategists took advantage of social media to add to the political noise. 

In a political system as fragmented as the Philippines’, the volatile nature of social media makes it an effective political tool for disinformation. 

An earlier study co-authored by Mr. Ong identified four organizational models of disinformation production: the in-house staff model, the advertising and public relations (PR) model, the clickbait model, and the state-sponsored model.

The 2022 national elections demonstrated the diversification of the disinformation industry, as shown by the emergence of political campaigning on TikTok, Instagram, and YouTube, among others; the increased ​use of social media influencers and celebrities to amplify political messages, and the acceleration of investment in social media due to the health crisis.

Fake news or disinformation producers refer to themselves as PR consultants, political marketers, spin consultants, or media strategists. Main indicators of success are if their clients are elected into office and if they are able to influence public discourse.

Philippine presumptive president Ferdinand “Bongbong” Marcos Jr. has benefited the most from social media disinformation or misinformation. According to Mr. Ong, the use of social media played a major role in rehabilitating the Marcos brand.

Everyone has a responsibility to fight disinformation. Journalists and fact-checkers should step up efforts to call out false information being spread online as well as expose disinformation actors such as PR agencies that work with politicians.

Recorded remotely on May 6, 2022. Produced by Earl R. Lagundino and Sam L. Marcelo.

 

For stories of trolls and how they got into troll work, check out Catch Me If You Can, a podcast hosted by Mr. Ong and journalist Kat Ventura.

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