DOLE to hire 5K ‘healthy economic recovery officers’

The Department of Labor and Employment is set to hire some 5,000 workers nationwide who will help them better serve the people, particularly workers in the localities. Labor Assistant Secretary Dominique Tutay said they will be hiring 5,600 Barangay Healthy Economic Recovery Officers or HEROES to gather information from employees on the status of their employment to determine forms of …

PH manufacturing rebounds in June

Manufacturing conditions in the Philippines have rebounded towards the end of the second quarter, the IHS Markit Philippines Manufacturing Purchasing Managers’ Index reported. The manufacturing index for June settled at 50.8 from 49.9 in May. Scores above 50 indicate improvement of the sector and lower than 50 reflect deterioration. An IHS Markit economist said, “June data highlighted a partial rebound …

Gap to close all UK, Ireland shops as COVID-19 stifles offline sales

U.S. apparel company Gap will close its 81 stores in Britain and Ireland by September but remain online there, the retailer said. The retailer is also in talks with its partners to sell its stores in Italy and France as it looks to limit its presence in Europe to online in order to save costs. The company said it was …

Robinhood fined $70m for harming customers via misleading information

Wall Street’s industry regulator fined Robinhood Financial 70 million dollars on June 30 for “systemic” failures, including systems outages, providing “false or misleading” information, and weak options trading controls, saying those factors combined harmed millions of the app’s customers. The Financial Industry Regulatory Authority fine is the latest hit to Robinhood’s reputation. The broker, which has been credited with democratizing …

COA flags MMDA over P3 billion traffic, flood control projects

The Commission on Audit called out the Metropolitan Manila Development Authority for failure to complete 3.2 billion pesos worth of infrastructure projects to address traffic congestion and flooding in NCR. In its audit report on the MMDA, the COA noted that out of 94 projects with funding of 1.1 billion pesos, only 27 projects amounting to 237 million pesos were …

Debt could trap low-income nations in poverty — report

A lasting divide risks emerging between rich and poor countries if the rising debt burden of low-income and emerging nations is not tackled, a report warned. Countries have responded to the Covid-19 pandemic and the economic crisis by stepping up spending, but trajectories of their debt burdens have diverged as only some nations have benefitted from ultra-low interest rates, a …

Japan business confidence hits highest level since 2018

Confidence among major Japanese manufacturers hit its highest level since 2018, a key business survey showed, as they bet on a strong post-pandemic recovery despite setbacks. The headline index for big manufacturers’ sentiment jumped to plus 14 from plus five in March, marking the fourth consecutive quarter of improvement, according to the Bank of Japan’s Tankan business survey, a quarterly …

Who runs the CPC: Understanding the Party structure

It is essential to understand what makes up the Communist Party of China – a century-old party leading the world’s most populous country. The Party is to China what the nervous system is to a human body. The Party performs a range of functions that bear a striking resemblance to those of a nervous system. And it is pretty much …

Flying car makes successful intercity flight in Slovakia

A flying car, designed by Slovak Stefan Klein, has completed a flight between two international airports. The AirCar traveled 80 kilometers in just 35 minutes. After touching down in Slovakia’s capital, the vehicle transformed back into a car and drove around the city center. Klein, a professor of transportation design, said the flight has sparked “a new era of dual-transportation …