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Philippines News Agency

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The Philippines News Agency

The Philippines News Agency (PNA) is a web-based newswire service of the Philippine government. The PNA Headquarters are housed at the 2nd floor of the PIA building along Visayas Avenue, Quezon City. PNA's website address is http://www.pna.gov.ph

It has been 35 years since PNA was launched in an era when newswire operations relied mainly on teletype machines and typewriters. PNA has steadily paced the highly competitive and changing arena of Philippine journalism; it is now slowly but surely coming to par with the challenges posed by the globalization of media communications. This has deeply shaped modern journalism and the news media organizations that have been instrumental in creating the very conditions that made globalization a reality.

PNA has evolved today as an Internet-based news service agency that caters to the global demand for news and information to its subscribers, readers and a host of other clients. PNA's mission is spelled out clearly: to provide the government, the Presidency, the public, as well as its media and non-media clients, both local and foreign based, sober, factual, impartial and objective news and information. PNA provides news 24/7, including photos of major events, feature stories, sports news and events, local and global opinions, general information, as well as global news and feature stories. PNA employs about a hundred journalists and stringers across the country, with several foreign-based correspondents.

PNA beat reporters and stringers are deployed practically in every government office and agency, including the main offices and camps of police and security forces, to provide news 24/7 for local, regional and global subscribers and readers. PNA likewise maintains active news exchanges with news agencies of ASEAN member-countries and the Organization of Asia-Pacific News Agencies (OANA).

www.pna.gov.ph
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Need to strengthen Asia's economic cooperation cited . (PNA)

Need to strengthen Asia's economic cooperation cited . (PNA)

ADB urges PHL, other Asian nations to develop disaster risk financing markets

MANILA, (PNA) -- The Philippines and other Asian countries need to develop disaster risk financing markets to mitigate the impact of natural calamities with costs exceeding economic growth, the Asian Development Bank (ADB) said on Tuesday.

“Economies across Asia urgently need to address their financial disaster readiness if they are to cope with the fallout from events that are both more frequent than costly,” the Bank said in its Asian Economic Integration Monitor (AEIM) report.

The ADB report identified key priorities for developing disaster financing markets and strengthening financial resilience, including business continuity planning, enhancing technical and institutional capacities and coordinating various governmental authorities across all levels.

“Insurance coverage is a powerful component of disaster risk management, ensuring that firms have sufficient liquidity to manage any disruptions,” it said.

However, while it can cover some of the losses, insurance alone is a costly strategy and should not be seen a solution for the difficulties, the report added.

The ADB also underscored the importance of data availability on hazards, exposure, vulnerabilities and losses crucial for strengthening financial resilience and disaster preparedness.

“It will enhance understanding of different calamity risk financing strategies and tools –along with their potential benefits and limitations, including preconditions— that support the development of disaster risk financing instruments,” it said.

“Costs of natural disasters grow faster than GDP (gross domestic product). (This) calls for regional cooperation in disaster risk management,” said Iwan Azis, head of ADB’s Office of Regional Economic Integration, in presenting the AEIM report.

The Annual Global Climate and Catastrophe Report 2013 estimated that losses from natural catastrophes worldwide totaled $ 192 billion last year, with just 7.6 percent of the $ 45 billion insured losses were in Asia.

Over the past 20 years, Asia has borne almost half of the estimated global economic cost of natural disasters –roughly $ 53 billion annually.

“Indeed, natural disaster should be part of the thinking of all institutions in the region precisely because the Pacific Ring of Fire offers not only problems but challenges and opportunities. New industries might arise from this and that’s the half full glass that we should be looking at,” said Dr. Federico Macaranas, Core Faculty of the Asian Institute of Management.(PNA)