Asia
Indonesia hit with $5.2 billion in forest-fire losses: World Bank
Forest fires that raged across Indonesia dented Southeast Asia’s biggest economy to the tune of some $5.2 billion, the World Bank said Wednesday, not including the health impacts from toxic haze that sent air quality plummeting.
The fires are an annual problem but this year was the worst since 2015 due to dry weather, with 942,000 hectares (2.3 million acres) of land, mostly on Sumatra and Borneo islands, razed by the out-of-control blazes.
Authorities deployed tens of thousands of personnel and water-bombing aircraft to tackle the slash-and-burn blazes set to clear agricultural land, including on palm oil and pulp plantations.
On Wednesday, the World Bank said the economy took a hit of some $5.2 billion, equal to about 0.5 percent of gross domestic product.
That included $157 million in direct damage and another $5 billion from losses in the agriculture, industry, trade, tourism, transportation and environmental sectors, according to the Washington-based bank.
A dozen airports and hundreds of schools in Indonesia — as well as neighbouring Malaysia and Singapore — closed temporarily, while more than 900,000 people reported respiratory illnesses, it said.
“The agriculture and environmental sectors make up over half of the estimated loss, because fires damaged valuable estate crops and released significant greenhouse gas emissions to the atmosphere,” the bank said in its Indonesia Economic Quarterly report.
Many fires were on swampy, carbon-rich peatlands which become highly flammable when they are drained of water to grow crops.
Indonesia’s 2019 fires were estimated to have produced almost double the emissions caused by blazes in the Brazilian Amazon this year.
The World Bank’s cost estimate doesn’t include longer-term effects of repeated exposure to haze, such acute respiratory illnesses, or lost school time after students and teachers were advised to stay home, it added.
The United Nations has warned that Indonesia’s forest fires put nearly 10 million children at risk, as they released vast amounts of greenhouse gases that contribute to global warming.
Last year, Indonesia issued a moratorium on new forest clearance for palm oil plantations, to reduce the outbreak of fires.
– AFP
Asia
Up to 200 athletes tested for doping so far at Asian Games
Between 150 and 200 Asian Games athletes tested for doping, yielding no positive results. Anti-doping efforts emphasized for a clean event, focusing on record-breakers.
HANGZHOU, CHINA — Between 150 and 200 Asian Games athletes have already been tested for doping, the Olympic Council of Asia said on Monday, with no positive results so far.
Speaking at an anti-doping press conference on the second full day of the Games in the Chinese city of Hangzhou, the OCA said dope-testing was “gaining momentum” at the event.
Mani Jegathesan, an adviser to the OCA anti-doping committee, warned that drug cheats would be rooted out.
Up to 200 athletes have been tested so far, he said, but any positive results will take several days to come through.
“Every athlete participating in these Games must understand that they could be picked at any time,” Jegathesan warned.
“That is the best step to ensuring we have a clean event.”
There are about 12,000 athletes at the 19th Asian Games, more competitors than the Olympics, and Jegathesan admitted it would be impossible to test them all.
Instead, they will prioritise, including picking out those who break world or Asian records.
— AFP
Asia
Foodpanda’s restructuring amid sale speculations
Food delivery giant Foodpanda, a subsidiary of Delivery Hero, announces staff layoffs in the Asia-Pacific region, aiming for increased efficiency. This move coincides with ongoing talks about potentially selling parts of its 11-year-old business.
Foodpanda, a subsidiary of Delivery Hero, is initiating undisclosed staff reductions in the Asia-Pacific region, as discussions continue regarding the potential sale of a portion of its 11-year-old food delivery business.
In a memorandum circulated to employees on 21 September, Foodpanda CEO Jakob Angele conveyed the company’s intent to become more streamlined, efficient, and agile.
Although the exact number of affected employees was not disclosed, the emphasis was on enhancing operational efficiency for the future.
No mention was made in the memo regarding the reports of Foodpanda’s potential sale in Singapore and six other Southeast Asian markets, possibly to Grab or other interested buyers.
Foodpanda had previously conducted staff layoffs in February and September 2022. These actions come as the company faces mounting pressure to achieve profitability, particularly in challenging economic conditions.
The regulatory filings of Foodpanda’s Singapore entity for the fiscal year 2022, ending on 31 Dec, indicated a loss of S$42.7 million despite generating revenue of S$256.7 million.
Angele further explained that Foodpanda intends to review its organizational structure, including both regional and country teams, with some reporting lines being reassigned to different leaders. Additionally, certain functions will be consolidated into regional teams.
Expressing regret over the challenging decisions, Angele assured affected employees of a severance package, paid gardening leave, and extended medical insurance coverage where feasible.
Foodpanda will also forego the usual waiting period for long-term incentive plan grants, and vesting will continue until the last employment date. Employees will retain all vested shares as of their last day of employment.
Foodpanda, established in 2012 and headquartered in Singapore, became a part of Delivery Hero in 2016. The company operates in 11 markets across the Asia-Pacific region, excluding its exit from the Japanese market last year.
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