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Philippines’ Marcos signs US$9 bn wealth fund into law
Philippine President Ferdinand Marcos signs a law creating a US$9 billion sovereign wealth fund to stimulate economic growth and infrastructure spending, despite critics warning of potential misuse and public opposition. The fund, named the “Maharlika Investment Fund,” will draw funds from various sources, including the national government, gaming revenue, and private investments. Marcos assures transparency and prudent management of the fund.
Sri Lankan leader seeks to disarm India’s China fears
Sri Lanka’s president visits India amidst concerns over China’s influence and economic crisis, as India aids the island nation while maintaining its own interests in the region. Debt restructuring and infrastructure projects are key topics in discussions between the two nations.
Norway threatens US$100,000 daily fine on Meta over data
Norway’s data protection agency has announced a ban on Meta, the company behind Facebook and Instagram, from using user data for targeted advertising, with the threat of a daily fine of US$100,000.
European scrutiny of big tech’s privacy practices continues to increase.
Childhood routine jabs pick up after COVID backslide: UN
Routine childhood vaccination rates are improving globally after a decline during the COVID-19 pandemic, but significant gaps remain, with millions of children still missing out on vaccines, particularly in low-income countries, according to the United Nations.
While progress has been made, efforts to bridge the disparities in immunization coverage are necessary to protect children from preventable diseases.