• Climate change could derail economic progress in the Pacific : ADB

    Ramesh Tiwari
    January 8, 2018
    Climate change could derail economic progress in the Pacific : ADB

    TravelBizNews—

    Manila ( ADB) :  Countries in the Pacific should step up their efforts to adapt to more extreme weather conditions and mitigate disaster risks to improve the region’s economic growth and development prospects, according to the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor.

    “Many Pacific countries have taken steps to improve resilience, such as integrating climate change adaptation and disaster risk reduction into their national policies, climate-proofing infrastructure, and building financial resilience,” said Carmela Locsin, Director General of ADB’s Pacific Department. “This is very good news, but more innovative approaches and greater institutional capacity can help to respond comprehensively to climate change risks.”

    The subregion’s growth outlook for 2018 is adjusted downward slightly to 3.2%, due largely to dampened economic prospects for some of the North Pacific and small island economies. As a positive development, visitor arrivals in the Cook Islands and Fiji—the two largest South Pacific tourist destinations—have recorded strong growth in 2017. Samoa and Vanuatu also saw solid growth from their tourism markets.

    The Monitor, ADB Pacific Department’s flagship economic publication, focuses on country issues as well as current and critical policy themes. This edition focuses on climate change adaptation, featuring articles examining the vulnerability of Pacific economies to the impacts of climate change and disasters, and how they are addressing these impacts.

    The Monitor examines how national governments in the South Pacific are formulating plans and, with the help of development partners, exploring approaches to finance the interventions necessary to address climate change risks.

    A topical policy brief in the Monitor discusses ADB-supported efforts to promote low-carbon development, climate-resilient infrastructure, regional knowledge-sharing, and innovative financing solutions in the Pacific. It also provides a tool kit of options to build financial resilience to the impacts of climate change. These include disaster-contingent lines of credit and sovereign insurance schemes that may be tapped to help Pacific economies recover in the wake of disasters. Another policy brief looks at urban solid waste management in Timor-Leste and strategies to reduce greenhouse gas emissions.

    Countries in the Pacific should step up their efforts to address climate change risks to improve the region’s economic growth and development prospects , ADB says.

    Dec . 18 , 2017

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      Kabul: Afghan security forces have regained control of Intercontinental Hotel, hours after the gunmen burst into the hotel shooting at guests and staff. At least five civilians were killed and six were injured in the siege. Three of the attackers have been killed and more than 150 guests were rescued. No group has said it carried out the attack, but the Taliban targeted the Intercontinental hotel in 2011.

      Beijing: China’s economy grew by 6.9% in 2017 according to official data – the first time in seven years the pace of growth has picked up. The figure beats Beijing’s official annual expansion target of about 6.5%. Gross domestic product (GDP) totaled 82.71 trillion yuan (about 12.84 trillion U.S. dollars) in 2017, with the service sector accounting for more than half of the total.

      Shanghai: China Eastern Airlines and other domestic airlines have begun to allow mobile phone use on their aircraft or announced plans to lift a ban. China Eastern Airlines and Hainan Airlines began to allow passengers to use portable electronic devices (PED), such as smartphones and tablets.China Southern Airlines and Xiamen Airlines announced they would allow mobile phone use on all their flights this week. – Agencies

      2017 in review -Top stories

      January 1 : New year nightclub attack leaves 39 dead in Istanbul
      January 20 : Republican billionaire Donald Trump sworn in as 45th US president
      January 23 : Syria peace talks begin in Kazakh capital Astana
      March 29 :United Kingdom officially launches the Brexit process
      April 4 :Syria launches chemical attack killing 90 people
      April 6 : US cruise missiles destroy Syrian air base
      April 9 : Bombings at two churches in Egypt kill dozens
      April 16 : Refugee death toll passes 1,000 in Mediterranean
      April 16 :Turkey says YES to presidential system
      May 6 :Emmanuel Macron elected French president defeating Marine Le Pen
      May 19 :Iran’s President Hassan Rouhani wins re-election
      May 22 : Terrorist attack kills 22 at Manchester concert
      June 5 : Gulf nations severe ties with Qatar
      June 7 :Suicide bombers attack Iranian parliament killing 13 people
      June 14 :London fire kills 71 in the 24-storey Grenfell Tower
      July 4 :North Korean leader Kim Jong-un’s missile ambitions
      July 28 : Pakistan’s top court disqualifies Prime Minister Nawaz Sharif from office
      August 5 :US withdraws from Paris climate change pact
      August 17 :Storms cause record damage in Caribbean and southern United States
      August 25 :Muslim Rohingya start fleeing Rakhine state in Myanmar
      September 15 : NASA’s 13-year Saturn mission ends
      September 20 : Earthquake kills more than 200 in Mexico
      September 24 : Germany’s Chancellor Angela Merkel wins fourth term
      September 26 : Saudi Arabia lifts ban on women driving
      October 1 : Gunman opens fire on Las Vegas music festival killing 59 people
      October 14 : Massive bombing in Somalia’s capital Modadishu kill more than 500 people
      October 24 : China confirms the elevation of President Xi Jinping to the same status as the nation’s founder, Mao Zedong, and Deng Xiaoping, by enshrining ‘Xi Jinping thought’ in the party’s constitution at the 19th National Congress of the Communist Party of China
      October 27 : Catalonia declares independence from Spain
      November 4 : S audi Arabia detains 11 princes, four ministers and ten former ministers in a corruption probe
      November 12 : Iran-Iraq magnitude 7.3 earthquake kills more than 500
      November 15 : Argentine navy submarine disappears with 44 crew on board
      November 21 : Robert Mugabe resigns as Zimbabwe’s president after 37 years in power. His former deputy Emmerson Mnangagwa will become president.
      November 22 : Bosnian Serb army commander Ratko Mladic convicted of genocide in Srebrenica during the 1990s Bosnian War
      November 24 : Gunmen kill hundreds at Sinai mosque in Egypt
      December 4 : Houthi militants assassinate Yemen’s former President Ali Abdullah Saleh
      December 5 : Russia banned from 2018 Winter Olympics for state-sponsored doping
      December 6 : US President Donald Trump recognises Jerusalem as the capital of Israel
      December 17 : Price of one bitcoin reaches a new high of $19,783.06 dollars
      December 21 : Yemen’s cholera outbreak
      December 22 : Syria peace talks in Astana (compiled)

      Top ten most visited cities

      Between January and August 2017, destinations worldwide welcomed 901 million international tourist arrivals (overnight visitors), 56 million more than in the same period of 2016 .The top ten most visited cities are:
      CityVisitors
      HONG KONG26.6 million
      BANGKOK 21.2 million
      LONDON19.2 million
      SINGAPORE16.6 million
      MACAU15.4 million
      DUBAI14.9 million
      PARIS14.4 million
      NEW YORK12.7 million
      SHENZHEN12.6 million
      KUALA LUMPUR12.3 million

      Source: Euromonitor International

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