WELLNESS IN BUSINESS: Philippines capable of double-digit growth – IMF

The International Monetary Fund (IMF) expects the Philippines to post double-digit economic growth amid a steady improvement in public investment efficiency over the next 15 years.

In a report, IMF economist Takuji Komatsuzaki said the improvement in public investment efficiency generates substantial additional benefits particularly through higher gross domestic product (GDP) growth.

“Assuming half of the inefficiency is eliminated in five years, the increase in real GDP after 15 years is nine percent to 11 percent,” Komatsuzaki said.

The IMF considered two scenarios in the working paper including a permanent increase in public investment by two percent of GDP financed by borrowing as well as the same increase in public investment financed by higher taxes.

“All scenarios exhibited sustained gains in output because improving public infrastructure leads to gains in productivity, which crowds in private investment,” Komatsuzaki said.

Source: http://www.philstar.com/business/2016/03/02/1558449/philippines-capable-double-digit-growth-imf

WELLNESS IN ENVIRONMENT: Smallest of giant flowers ‘accidentally’ discovered in the Philippines

Luzon Island in the Phillipines, a team of scientists have discovered the smallest of these giant flowers.

When fully expanded, this newly discovered flower has an average diameter of 9.73 cm, making it a “dwarf” among all known Rafflesia species, researchers write in a new study published in the journal PhytoKeys. And unlike its larger cousins, this small flower smells like coconut, the New York Times reports.

The discovery was serendipitous, researchers say. Lead researcher Prof Perry S. Ong’s colleague was walking in a forest on Luzon Island when he accidentally tripped over a pile of forest litter, exposing a small decaying flower. This flower, the researchers found, belonged to a new Rafflesia species.

Ong, and his team, have named the new species Rafflesia consueloae in honor of Consuelo ‘Connie’ Rufino Lopez, lifelong partner of Filipino industrialist Oscar M. Lopez.

Rafflesia consueloae may have set a new world record, but this dwarf is on the verge of extinction, researchers say.

Only two populations of R. consueloae are known from two mountain sites, Mt Balukbok and Mt Pantaburon. These mountain are about two kilometers (1.24 miles) apart, and occur within the Pantabangan-Carranglan Watershed. Severely threatened by deforestation, these mountain sites now have only remnants of tropical lowland evergreen rainforests, the authors write.

“Following the IUCN Categories and Criteria, we regard this species as Critically Endangered,” they add. “Continued protection of the R. consueloae populations and other biodiversity in the area needs to be ensured as some local people still hunt wildlife there and forest fires are likely in the dry season.”

R. consueloae is the sixth species of Rafflesia to be discovered from Luzon Island, and the thirteenth from the entire Philippine archipelago. Like its giant cousins,R. consueloae has no distinct roots, stems or leaves of its own, and is a parasite. It depends on its host plants for water and nutrients.

Source: http://www.theguardian.com/environment/2016/mar/02/smallest-of-giant-flowers-accidentally-discovered-in-the-philippines

WELLNESS IN ARTS: Photo series on Philippine politics at international photo competition

Lawrence Sumulong, a Filipino-American photographer based in New York City and Manila, is shortlisted for the "Professional Conceptual" category of one of the world’s biggest photography competition, the Sony World Photography Awards. Sumulong's shortlisted series "Trapo," an ongoing project focusing on politics in the Philippines, was selected from 230,103 images from 186 countries. This year has the highest number of entries in the awards’ nine-year history, with 33 percent increase from 2015. has received great recognition for his original photographic projects challenging the medium. Talking about his success, he adds: "I am extremely grateful to be shortlisted at this prestigious competition considering my project’s obscure subject matter and approach."

Speaking about all the photographers who have been shortlisted this year, Scott Gray, CEO of the World Photography Organisation and organiser of the awards said: "We are extremely pleased with our jurors’ choices this year. Despite the increase in the number of photographers, and the amount of imagery that required judging, this year above all others we have witnessed a wealth of powerful imagery in the traditionally strong social documentary categories as well as the art and conceptual work. It is wonderful for the medium that it can offer such rich diversity."

Source: http://www.philstar.com/arts-and-culture/2016/02/24/1556358/photo-series-philippine-politics-international-photo-competition