Economist Intelligence Unit Global Economy Report

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Prolonged stockmarket fall and global trade war are biggest threats to global economy, finds new EIU report

• The two top risks to the global economy are a prolonged fall in major stockmarkets that destabilises the global economy, and a trade war provoked by US protectionism.

• The next risks in terms of probability and impact are, in joint 3rd and 4th place, an outbreak of hostilities in the South China Sea as a result of territorial disputes, and a major cyber-attack crippling corporate and government activities.

• Other key risks identified include a disorderly and prolonged Chinese slowdown, a major military confrontation on the Korean peninsula, and outright conflict in the Middle East between Iran and Saudi Arabia.

A new report released today by The Economist Intelligence Unit identifies and assesses the top ten major risks to the global political and economic order. It finds that while the global economy has seen periods of high risk before, what is unique about this period are the risks associated with the US questioning its role in the world at the same time as China is becoming more assertive. But global risk is not just about the two biggest economies; risks also transcend boundaries on the political, military and financial spheres.

The report details how these various risks could morph into threats that destabilise large parts of the world. Each of the risks is not only outlined, but also rated in terms of its likelihood and its potential impact on the global economy. This enables distinction to be drawn between the so-called "black
swan" events of low probability and very high impact from those risks with a higher likelihood that need to be planned for in more detail.

Philip Walker, Risk Practice Director for The Economist Intelligence Unit, said: "There has arguably never been a period of such robust economic growth, low inflation and high employment that has been coupled with such a prevailing sense of unease with global conditions.

Policymakers, companies and populations are facing a wide range of major threats that could well upset the traditional global order in the coming years. It is important to assess and prepare for a likely tumultuous global environment in order not just to mitigate damage, but also take advantage of opportunities that will undoubtedly arise along the way."

TransMit (Transportation Summit) 2018

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The Department of Transportation will hold the TransMit (Transportation Summit) 2018, an annual transportation conference, that will be held on 1 – 3 March 2018 at the Mapúa University Gymnasium, Intramuros, Manila.

The Summit will be hosted by the Eastern Asia Society for Transportation Studies – Transportation Science Society of the Philippines (EASTS-TSSP), a recognized organization at the School of Civil, Environment, and Geological Engineering of the Mapúa University.

With this year’s theme, “Transcend: The Impacts of the 4th Industrial Revolution in Transportation,” the Summit aims to promote awareness in producing sustainable transport policies, such as rural connectivity and public transport, in light of finding and addressing transportation issues. 

TransMit 2018 is expected to gather more than 3,000 engineering graduate students and other transportation stakeholders.

The Day 1 of this three-day activity, 1 March 2018, will solely be devoted on the discussions on railways. 

Further, a Signing of Partnership Memorandum of Agreements (MOAs) with Engineering Universities as part of the DOTr Railways-Academe Partnership Programs, and a Ceremonial Signing of Records of Discussion with JICA for the Establishment of the Philippines Railway Institute (PRI) will likewise be held.

Personalization and Timely Addition of New Features Make AccuWeather the World's Most Popular Weather App

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As Mobile World Congress gets under way, the global leader in weather information and digital media highlights innovative, user-focused approach to updating its award-winning iOS and Android apps.  As mobile technology leaders gather in Barcelona, Spain, for the Mobile World Congress (MWC) from February 26 to March 1, AccuWeather-the world's fastest-growing provider of weather forecasts and warnings and a global leader in digital media and weather-related big data-is highlighting its innovative, user-focused approach to introducing new features to its award-winning mobile apps for iOS and Android. AccuWeather is the world's leading mobile weather information source, and receives more than 300 million unique monthly visitors from around the globe and over 35 billion data requests daily.  "Our users expect the most timely, accurate and personal weather information through the unique features that only AccuWeather is equipped to provide" said Kurt Fulepp, Chief Product Officer at AccuWeather. "Combining what people need and the Superior Accuracy™ they trust has made AccuWeather the No. 1 weather app worldwide, and we're constantly building on our foundation of innovation and precision to help users plan their days, and stay safe during severe weather events."   As a pioneer in the mobile weather category, AccuWeather continues to add design and usability enhancements to its apps, while pairing the introduction of major new features that align to the change of the seasons.  A tropical storm/hurricane map was introduced during the record-setting 2017 hurricane season. And as spring weather approaches, AccuWeather has introduced an extended 7-day Allergy Index. This fall, AccuWeather added its exclusive Snowfall Probability feature, which forecasts probable amounts of snow at a user's exact location. "To maintain our global leadership, our product development timeline ensures we're innovating ahead of each season," Fulepp said. "Seeing the engagement with our Snowfall Probability forecast has been very gratifying, and reminds us of how important timeliness and accuracy is to our users' lives."   During the 2017 hurricane season, AccuWeather app users were able to access new tropical storm map layers. These maps tracked storms using AccuWeather's proprietary hurricane models, which have been shown to be more accurate than those used by government weather services.  Other features added over the past several months can help users make critical decisions. "Our mission also includes providing, well ahead of time, the weather information people need to keep themselves and their families safe," Fulepp said. "For example, users located within 500 miles of a hurricane-status storm will see an alert on the AccuWeather app landing screen. Tapping the alert opens a map that shows the storm's predicted path, and provides access to additional details on rainfall, risk to life and property, and more." Responding to user demand, AccuWeather recently introduced another unique feature: the extended 7-day Allergy Index. Users can access the new allergen forecasts conveniently on the home screen of the app. In addition, AccuWeather has continued making the patented AccuWeather MinuteCast®-the leading minute-by-minute forecast of precipitation over the next two hours, hyper-localized to a user's exact street address or pinpointed to their GPS location-available in more regions throughout the world, including Europe, Australia, and North and South America. It will be rolled out to more locations across Asia in 2018, and AccuWeather is the sole partner of the Chinese government for minute-by-minute precipitation forecasts.  Last year, the Academy of Interactive and Visual Arts (AIVA) recognized AccuWeather with two 2017 W3 digital awards-a Best-in-Show award for the AccuWeather iOS app and a Gold award for the AccuWeather Android app. This is the fourth time AccuWeather's apps have been recognized with W3 awards for providing a superior app experience.  The W3 Awards came on the heels of a study by independent industry tracker ForecastWatch, which confirmed the Superior Accuracy™ of the company's forecasts. This analysis of over 30 million forecasts-the most comprehensive study of forecast accuracy ever undertaken globally-concluded that AccuWeather had the highest level of accuracy in all three categories ForecastWatch verified, temperature, precipitation and wind. The award-winning AccuWeather apps for iOS and Android provide the most accurate, actionable weather forecasts and warnings in an innovative, advanced mobile experience personalized to each user worldwide. The app also includes AccUcast™, the only crowdsourced weather feature that provides current weather conditions and hazards submitted by users in a real-time global animation map display, plus AccuWeather Real Feel®, Future Radar, and much more. The AccuWeather app for Android phone and tablet users is free on the Google Play store. The AccuWeather iOS app is free on www.AppStore.com. Headquartered in State College, Pennsylvania, AccuWeather has additional locations, including a Severe Weather Center in Wichita, Kansas, as well as locations in New York, Oklahoma City, Montreal, Tokyo, Seoul, Beijing and Mumbai.