SYDNEY — Floods and natural disasters that hit all but one Australian state and territory in 2022 cost the economy A$5 billion ($3.48 billion) and stoked inflation according to Treasury estimates which forecast billions more spending in 2023. Australia suffered four major bouts of flooding last year, with global reinsurer Munich Re estimating that February […]
Tag: economy
GDP grew by at least 7.5% in 2022, says Diokno
THE PHILIPPINE ECONOMY likely expanded by at least 7.5% in 2022, Finance Secretary Benjamin E. Diokno said on Thursday. “We expect the economy to have grown by at least 7.5% last year. Because of the expected slowdown of the global economy, the Philippine economy is forecasted to grow by around 6.5% this year — still […]
Philippine economy at a glance: Looking back on 2022
The Philippine economy continued its recovery from the coronavirus pandemic this year, as evidenced by the improvement in economic indicators. However, elevated inflation and the Russia-Ukraine war may have dented the Philippines’ recovery momentum. The infographic shows the Philippines’ economic performance based on select indicators obtained from latest government data.
Indonesia encourages collaboration to achieve blue economy in AIS Forum
JAKARTA, Dec 21, 2022 – (ACN Newswire via SEAPRWire.com) – Indonesia emphasized the need for collaboration to achieve the blue economy and green economy concepts among the members of the Archipelagic and Island States (AIS) Forum. “Next year (in 2023), through the head of state level meeting, we hope the joint commitment of island and […]
P6.5B needed for proposed subsidy on informal workers’ social insurance contribution
AROUND P6.5 billion in public funds will be needed annually to cover a proposed subsidy for the social insurance contribution of informal sector workers, according to the lawmaker who recommended the provision. Rep. Arlene D. Brosas of women’s rights party-list Gabriela said the latest estimate is based on about 17 million Filipinos considered to be […]
Shenzhen Global Marine Forum to Focus on Ocean Leadership, Sustainability
SHENZHEN, November 28, 2022 – (SEAPRWire) – The Shenzhen Global Marine Economy Forum 2022, the executive strategy session of the high-powered China Marine Economy Expo, opened Thursday with the aim of further developing China’s booming “Blue Economy” and boosting global exchange and cooperation. This year’s marine forum, titled “Leadership for the Sustainable Expansion of the Marine Economy,” will bring together […]
Stocks rise as investors get bullish on economy
PHILIPPINE STOCKS inched higher on Thursday as investors were optimistic that the economy can absorb monetary tightening after the central bank delivered another large rate hike. The Philippine Stock Exchange index (PSEi) went up by 11.65 points or 0.18% to 6,403.74 on Thursday, while the broader all shares index rose by 12.30 points or 0.36% […]
Digital Nigeria 2022: NITDA Director General tasks Tech Innovators with Problem Solving
ABUJA, NG, Oct 31, 2022 – (ACN Newswire via SEAPRWire.com) – The Director General, National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE has challenged Nigerian tech innovators and entrepreneurs to identify problems bedeviling the nation with the view to proffering solutions because the government has provided a level playing field for them to achieve […]
E-commerce seen to drive PHL digital economy surge to $35B
THE Philippines’ digital economy is expected to reach a gross merchandise value (GMV) of $35 billion by 2025, growing at a 20% compound annual growth rate (CAGR) from $20 billion today, according to a report by Google, Temasek, and Bain & Co. The main driver will be the e-commerce sector, which is seen to hit […]
FG Stops Importation of Digital Technology Products, Services, as Nigeria Intends to be Global Talent Supplier: Day#1, Digital Nigeria 2022
ABUJA, NG, Oct 27, 2022 – (ACN Newswire via SEAPRWire.com) – As stakeholders in the Digital Economy sector from both within and outside Nigeria gathered in Abuja to brainstorm on the path to a sustainable digital economy in the country, the Federal Government (FG) declared that it would no longer accept importation of any digital […]
FG Stops Importation of Digital Technology Products, Services, as Nigeria Intends to be Global Talent Supplier
ABUJA, NG, Oct 27, 2022 – (ACN Newswire via SEAPRWire.com) – As stakeholders in the Digital Economy sector from both within and outside Nigeria gathered in Abuja to brainstorm on the path to a sustainable digital economy in the country, the Federal Government (FG) declared that it would no longer accept importation of any digital […]
Nigerian FG to Stop Importing Digital Products and Services says Digital Economy Minister
ABUJA, Nigeria, Oct 26, 2022 – (ACN Newswire via SEAPRWire.com) – With stakeholders in the Digital Economy, from within and outside Nigeria, gathered at Digital Nigeria 2022 to brainstorm on a sustainable digital economy for the nation, the Federal Government declared that it was no longer accepting importation of any digital technological product or service […]
Legislator touts e-commerce bureau measure as key to growing online economy
HOUSE BILLS proposing the creation of an e-commerce bureau at the Department of Trade and Industry (DTI) will safeguard internet transactions and promote the healthy growth of an online economy, one of the bills’ authors said on Tuesday. Davao Rep. Paolo Z. Duterte said in a statement that such a measure will also encourage micro, […]
1,450+ Organisation Identified in the UAE Web3 Space as per the Crypto Oasis Ecosystem Report 2022
DUBAI, Oct 10, 2022 – (ACN Newswire via SEAPRWire.com) – Crypto Oasis, the fastest growing Web3 ecosystem in the world, announced that it had identified more than 1,450 active Web3 organisations in the UAE at the end Q3 2022. The research also identified more than 7,000 individuals working in the industry. The organisations that are […]
NITDA to host Blockchain Day at Digital Nigeria 2022
LAGOS, NG, Oct 1, 2022 – (ACN Newswire via SEAPRWire.com) – The National Information Technology Development Agency (NITDA), under the Federal Ministry of Communications and Digital Economy, in partnership with Domineum Blockchain Solutions, a leading Distributed Ledger Technology Company in Africa, is set to host a one-day National digital economy awareness event: BLOCKCHAIN DAY will […]
How do we know when a recession has begun?
THE economy shrank in the first half of this year, the government confirmed in a report Thursday, Sept. 29, 2022, underscoring fears of a broad-based slowdown that could lead to a recession.At the same time, the number of people seeking unemployment benefits — a figure that often reflects the pace of layoffs — fell to […]
G20 Digital Innovation Network (DIN): Catalyst for Digital Economy Growth in Indonesia
Nusa Dua, Bali, Sep 19, 2022 – (ACN Newswire via SEAPRWire.com) – The G20 Digital Innovation Network (DIN) meeting is able to be a catalyst to expedite the digital economy sector development in Indonesia, said Minister Johnny G Plate, Indonesian Ministry of Communication and Informatics (KOMINFO). The event aims to bring together start-ups, venture capital […]
Russian economy will not return to pre-war levels until 2030 – Scope
BERLIN – Russia’s economy is not likely to return to pre–war levels before the end of this decade as the Ukraine war and stricter sanctions worsen long-standing economic deficiencies, Scope Ratings said in a report seen by Reuters on Friday. By the end of 2023, gross domestic product (GDP) will be about 8% below where […]
AboitizPower promotes elevated sustainable living through the circular economy
As the country’s leading producer of renewable energy, sustainability has always been at the core of AboitizPower’s philosophy and business operations. Alongside the company’s commitment to delivering 4,600 megawatts (MW) of sustainably-sourced energy by 2030 — or around 50% of its targeted 9,200-MW portfolio — AboitizPower continues to go further in its mission for a […]
G20 Digital Ministers yields consensus on 3 priorities
JAKARTA, Sep 3, 2022 – (ACN Newswire via SEAPRWire.com) – The Digital Economy Ministers Meeting (DEMM) was held in Nusa Dua, Bali, Thursday (September 1, 2022). It was the culmination of the Digital Economy Working Group (DEWG) meetings, as one of working group of the G20 that focuses on issues related to the digital economy […]