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2nd Indonesian goods expo, business-matching set Nov. 23

THE INDONESIAN Consulate in Davao City is holding the 2nd Indonesia Manufactured Products Expo (IMPE) on Nov. 23 to 25 at Abreeza Mall as part of continuing efforts to boost trade relations.
Indonesian Consul for Information and Socio Cultural Affairs Endah R. Yuliarti Farry said more than 20 Indonesian companies will exhibit their products that are seen as suitable for the Philippine market, particularly Mindanao.
These include construction and building materials, houseware, batik and fashion products, food, beverages, health care, beauty products, and agricultural machinery.
The consulate is also organizing a one-on-one business matching with companies based in Davao City and other parts of Mindanao, as well as arts and cultural performances, tourism promotions, and an Indonesia “food corner.”
Ms. Farry also confirmed the participation of Mitsubishi Motors, which will showcase its Expander, a seven-seater multi-purpose vehicle designed and manufactured in Indonesia.
“This is the first time that an automotive company joins the IMPE. We will include and display the car in the expo,” Ms. Farry said during Wednesday’s Habi at Kape forum.
Attaché Ely Syafitri Handayani said they will collaborate with the Mitsubishi distributor in Davao City for the promotion of the Expander brand.
Ms. Farry noted that trade relations between the two countries has been growing, with total value at US$7 billion in 2017 from US$4 billion in 2015.
“Indonesia is looking forward to (further) increase trade and investment that benefit both countries,” she said, “We are brothers that weaved together with common goals to prosperity.” — Maya M. Padillo

Nograles brother seen to take over Davao district seat

REPRESENTATIVE Jericho B. Nograles of the PBA Party-list is being eyed to take over the Davao City District 1 seat vacated by his brother, Karlo B. Nograles, who has recently been appointed as by President Rodrigo R. Duterte as Cabinet secretary. “(It is just) a matter of formality,” Jericho Nograles told BusinessWorld yesterday when asked if House Speaker Gloria Macapagal-Arroyo has already designated him as the district’s caretaker. He added, however, that he will unlikely take his brother’s previous position as chair of the House committee on appropriations. Karlo Nograles, in a separate interview Wednesday at the sidelines of the 17th Career Executive Service Conference, said, “Speaker Gloria Macapagal Arroyo will assume as caretaker of District 1 to avoid lack of representation for the district, but I am hoping the speaker will appoint somebody from Davao City.” He said the name of his brother Jericho came up as his possible replacement since he also comes from the same district. — Carmencita A. Carillo

Nov. 20 a holiday in ARMM, other Mindanao areas for Prophet Mohammad’s birthday

NOVEMBER 20, Tuesday, will be a holiday in the Autonomous Region in Muslim Mindanao (ARMM) and several provinces and cities for the celebration of the birth of Prophet Mohammad, or the Maulid un-Nabi. Based on Article 170 of Presidential Decree 1083, the other areas covered are: the provinces of Lanao del Norte, Cotabato, Sultan Kudarat, Zamboanga del Norte and Zamboanga del Sur; and the cities of Cotabato, Iligan, Pagadian, and Zamboanga. The law also provides that all Muslim government officials and employees in places other than those specified under Article 170 are excused from work on that day.
NOV. 19
Meanwhile, it will be a long weekend in the ARMM with the 19th also declared a holiday for the region’s 29th founding anniversary. The regional government, in a statement, said it is assuming that this would be the last ARMM anniversary celebration with the expected approval of the Bangsamoro Organic Law (BOL) in the Jan. 2019 plebiscite. Under the BOL, a new Bangsamoro territory and government will replace the ARMM.

Peso extends climb vs dollar

THE PESO rose ahead of the central bank’s policy decision. — PHILSTAR/KRIZ JOHN ROSALES

THE PESO strengthened further against the dollar on Thursday as market players awaited the policy decision of the local central bank.
The local unit ended Thursday’s session at P52.805 versus the greenback, 28.5 centavos stronger than the P53.09-per-dollar finish the previous day.
The peso traded stronger the whole day, opening the session at P52.98 per dollar. Its intraday high stood at P52.80, while its worst showing for the day was at P53 against the US currency.
Dollars traded rose to $799.3 million from the $731.5 million that exchanged hands on Wednesday.
The Bangko Sentral ng Pilipinas raised its benchmark rates by 25 basis points (bp) yesterday as inflation expectations remain elevated.
Inflation was at 6.7% in October, the same pace as the previous month but surging from 3.1% a year ago.
Another trader added that the stronger peso yesterday “was in anticipation for the BSP rate hike.”
However, Michael L. Ricafort, economist at Rizal Commercial Banking Corp., said the market was divided on the policy rate decision.
“The [25-bp] rate hike came as a surprise for some, thereby turned out positive for the peso,” Mr. Ricafort said in a text message.
Aside from this, he added that the peso strengthened as global oil prices lingered at near one-year lows.
For Friday, Mr. Ricafort expects the peso to move between P52.50 and P52.80 against the dollar, while the first trader gave a P52.60-P52.80 range.
“Moving forward, we will continue to see [stronger] range as the BSP raised rates by 25 bps,” the second trader noted, giving a P52-P52.70 range for today.
Meanwhile, Asian currencies firmed on Thursday on news that China has delivered a written response to US trade demands, raising hopes the two sides will begin negotiations to bring an end to their trade war.
The Korean won led gainers after Reuters reported China had responded to US demands for wide-ranging trade reforms, citing three US government sources.
The positive sentiment was also aided by a softer greenback, as the dollar index reacted to rallies in the euro and sterling, which together constitute around 70% of the weight in the index. — K.A.N. Vidal with Reuters

Nation at a Glance — (11/16/18)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Bets of dovish BSP rate move push up local stocks

INVESTORS betting on dovish monetary policy from the Bangko Sentral ng Pilipinas (BSP) pushed up the main index on Thursday, a few minutes before the central bank announced a 25-basis-point rate hike.
The bellwether Philippine Stock Exchange index (PSEi) rose 0.42% or 29.51 points to close at 6,952.59 yesterday. The broader all-shares index also climbed 0.29% or 12.63 points to 4,254.87.
“Philippine shares climbed higher with bets being made ahead of the BSP’s policy meeting, as there has been no clear consensus with regard to the outcome,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message ahead of Thursday’s policy statement.
Timson Securities, Inc. trader Jervin S. de Celis also cited gains in blue-chip banks such as BDO Unibank, Inc. (up 2.97% to P118 apiece), Bank of the Philippine Islands (up 2.30% to P84.50), and Metropolitan Bank & Trust Co. (up 4.18% to P69.80) as market participants priced in the central bank’s decision.
Mr. De Celis added that the PSEi may have also tracked the performance of some emerging markets that rebounded following news that Chinese officials have threshed out a series of possible concessions with the Trump administration.
“Now, this lessens the worry among investors about the rout of global growth especially when [Federal Reserve Chair] Jerome Powell added that they have an upbeat outlook for the US economy. So, I think that buoyed market sentiment in the emerging markets and the BSP’s move to raise rates amid weaker peso and slower growth may have given investors the assurance that the Monetary Board is closely watching and is willing to take measures to manage whatever is needed to be addressed to keep our economic figures within their target,” Mr. De Celis added.
A few minutes after the market’s close yesterday, the BSP announced that its policy-setting Monetary Board has hiked interest rates by 25 basis points amid lingering upside risks to inflation.
Most counters finished in the red. Holding firms slid 0.37% or 25.88 points to 6,809.60; mining and oil declined 0.31% or 28.76 points to 8,985.55; services fell 0.27% or 3.79 points to 1,372.88; and property dropped less than a percent or 2.29 points to 3,365.98,
Meanwhile, financials jumped 2.52% or 39.56 points to 1,609.19 and industrials edged up 0.63% or 66.17 points to 10,569.72.
Advancers outnumbered decliners by a slim margin, 90 to 89, while 48 names remained unchanged.
Value turnover totaled P6.51 billion as 779.12 million shares switched hands, lower than Wednesday’s P7.05 billion worth.
Foreigners continued to dump shares on Thursday as net selling totaled P21.50 million, albeit going down from the previous day’s P831.56-million net outflow.
Meanwhile, the MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.2% on Thursday. — J.C. Lim

MPBL: Manila outshines Quezon City; Gen San wins

THE BATTLE between the nation’s past and present capital ended the way it was expected, the Manila Stars stood out with plenty to spare.
Chris Bitoon and Riel Cervantes had a career game apiece to power the Robust Energy Capsule-backed Stars to a come from behind 76-71 win over the Black Mamba Energy Drink-supported Capitals in the MPBL Datu Cup late Wednesday night at the JCSGO Gym.
Bitoon, the spitfire guard, was practically unstoppable on the offensive end as he came away with a double-double performance of 26 points and 11 rebounds to go along with seven assists. He had 10 points in the pivotal fourth, including the go-ahead lay up with 1:04 left that gave the Stars a 73-71 lead.
After Quezon City’s Joko Tayongtong missed a jumper off an isolation play, the Stars went to Cervantes down low and made a bucket to put his team on safer ground, only 27 seconds remaining in the game, that practically ensured Manila’s 12th win in 14 games to solidify its hold of solo second spot in the tough northern division.
The Capitals absorbed their eighth loss in 11 games. They led by as many as 16 points twice (49-33) and (51-35), but allowed the Stars to mount a comeback.
Like Bitoon, Cervantes also came away with a career-high 25 markers, as the duo proved to be the scourge for Quezon City’s side.
Earlier, General Santos City held off Rizal’s last minute rally before preserving a 65-58 victory in the first game.
Leomar Losentes came up with his most productive game in his MPBL career, scoring 26 points to lead the way for the Golden State College-backed Warriors. He had 11 of his total output in the first period alone, allowing his team to dictate the tempo early.
The win allowed the Warriors to improve their record to 6-7 and keep the eighth spot in the southern division. — Rey Joble

Solar Entertainment through BTV, NBA Premium to bring NBA Action all season long

THE long wait is over as Filipino basketball fans can catch another new season of the NBA. After the Golden State Warriors won back-to-back titles thru a series sweep versus the Cleveland Cavaliers last June.
The excitement and anticipation for the next season happened a few weeks after as talented rookies were drafted, players switched teams thru trades & marquee players signed with teams via free agency. As new storylines surround the NBA heading to the new season, Solar Entertainment channels BTV & NBA Premium TV will make sure you’ll never miss the play by play action – 24 hours a day and 7 days a week from October to June.
As the long time TV partner of the NBA in the Philippines, Solar thru its channels Basketball TV (BTV) & NBA Premium TV again guarantees the most comprehensive coverage by broadcasting the most number of games combined with daily magazine shows & other NBA specials that are exclusive on both channels. Starting last October, BTV & NBA Premium TV airs live games every morning and for those who missed the morning broadcast primetime replays of the games are also available daily. From Regular season to the Finals, around 600 games will be aired combined on both channels.
Basketball TV viewers will enjoy at least one LIVE game every day, with primetime replay at 8 p.m. Games aired on BTV will be complemented by NBA magazine shows — NBA Action, NBA Inside Stuff, NBA Gametime, The Starters, Inside the NBA and NBA Open Court. Thru these programs, NBA fans will be updated with every news and updates surrounding the association. Aside from the NBA programming, BTV also specializes in locally produced on air and digital segments that are updated weekly consisting of events, highlights, insights, and program updates.
NBA Premium TV is the 1st ever HD sports channel in the Philippines that is custom-made for the true NBA fan. NBA Premium offers at least 2 LIVE games every day and can go to a maximum of 4 games. With NBA Premium TV, NBA Fans will get an overdose of NBA Action in Full High Definition everyday.

A ‘purposive’ second staging of Milo-FC Barcelona’s ‘Road to Barcelona’ football program concludes

THE SECOND staging of Milo and FC Barcelona’s “Road to Barcelona” program came to a conclusion recently with the people behind it hailing it as another “success” with the goals they have set for the program having been met.
In line with Milo and FCB’s shared vision of seeing children live better lives through a more healthy and active lifestyle and anchored on the HEART (humility, effort, ambition, respect, and teamwork) values they champion, the program saw another batch of select children train, learn, and play football under the guidance of the FCB Youth Academy in Barcelona, Spain.
From Nov. 4 to 12, Filipino kids who were selected from the invitational camp mounted by organizers joined their counterparts from different parts of the world in taking part in a once-in-lifetime, world-class football training.
Making up the team from the Philippines were Lien Dale D. Manuel (Vicente Lim Elementary School), Heaven Andrei N. Teodosio (Ilaya Barangka Integrated School of Mandaluyong City), Juan Pablo S. Unlay (Ateneo de Manila), Alexander David C. Villarosa (University of San Jose-Recoletos), Breindel O. Medina (Ateneo de Davao Junior High School), Tristan Ybañez (Sacred Heart School Ateneo De Cebu), Dylan Theodore O. Wong (Key School Manila), Carlo Antonio D. Bongocan (Rosevale School), Jelena Loren I. Soon (Singapore School Cebu), and Daniel Isaac N. Cagaanan (Koronadal Central Elementary School I).
Milo said to make it more “purposive” specifically for the team from the Philippines, it set up a friendly match with local club Fundacion Marcet Football Academy so as the kids could use what they learn from the FCB camp in an actual match.
“The second year is another success. We’ve learned a lot from last year’s trip so this year I would say we really made it purposive in terms of designing it in a way that they would really apply their learnings,” said Robbie De Vera, Milo Philippines consumer marketing manager, in an interview with BusinessWorld when asked how they would characterize the second staging of the Road to Barcelona program.
“The key difference from this year from last was the game we set up on our own against Fundacion Marcet which was really not part of the program as the Philippines was the only one which took part in this. What we did was we coordinated with the local club to make short it was set up. And the whole point was for the kids to be able to physically apply what they were learning in the camp in a match-like situation. And it was a complete success,” he added.
The second of what is set to be a four-year program, Mr. De Vera said they are looking forward to the next editions of Road to Barcelona.
“We believe in this program which is why we are supporting it. Milo and FCB believe in the same value, the HEART values, and youth development through sports and we intend to keep on doing this,” he said.
Apart from junior booters from the Philippines, also joining training sessions with FCB Youth Academy’s coaches were delegates from Chile, Colombia, Jamaica, Malaysia, Maldives, South Africa, Trinidad and Tobago, and Venezuela. — Michael Angelo S. Murillo

Bullock’s buzzer-beater pulls Pistons past Raptors

TORONTO — Reggie Bullock hit a 5-foot fade away jumper at the buzzer with an assist from former Raptor Jose Calderon, giving the Detroit Pistons a 106-104 victory at Toronto on Wednesday.
Blake Griffin scored 30 points and grabbed 12 rebounds to help Detroit come back from a 19-point, third-quarter deficit.
The win made it a happy return to Toronto for Pistons coach Dwane Casey, who was fired in the offseason after seven seasons as the Raptors’ coach. Casey received a warm ovation and a video tribute to mark his return.
Langston Galloway and Reggie Jackson each had 13 points for the Pistons, who gave Toronto its second consecutive loss, both at home.
Stanley Johnson added 12 points for Detroit, and Andre Drummond had 11 points and 14 rebounds.
Kawhi Leonard scored 26 points and grabbed nine rebounds for Toronto. Greg Monroe, playing for injured Serge Ibaka (sore right knee), add 17 points and nine rebounds, Pascal Siakam also had 17 points, and Jonas Valanciunas and Kyle Lowry scored 14 points apiece.
The Raptors took an 11-point lead into the fourth quarter, but the Pistons cut the deficit to four on Jackson’s pull-up jumper with 7:57 to play.
Johnson hit a two 3-pointers and Jackson made a jumper and a lay up to put Detroit ahead 100-97 with 4:29 left.
Toronto’s OG Anunoby missed two free throws, but Leonard cut Detroit’s lead to one on a driving lay up.
Leonard missed his first free throw with 3:00 to play on a clear-path foul but made his second to tie the game at 100.
Toronto was called for traveling, and Drummond’s put-back lay up put Detroit back into the lead. Griffin hit a jumper to make the lead four points with two minutes left. Lowry put in lay up and Leonard made a jumper to tie the game at 104 with 38.8 seconds left.
Toronto regained possession with 10 seconds to play, but Leonard lost the ball with two seconds on the clock. After one Toronto block, Bullock put in a lay up to give Detroit the win.
MAGIC COME FROM BEHIND FOR WIN OVER SIXERS
Jimmy Butler’s debut with the Philadelphia 76ers was spoiled by Terrence Ross in the final seconds as Orlando came from behind for a 111-106 win at home on Wednesday night.
Terrence Ross dribbled out the shot clock and hit a 3-pointer from the top of the key to give Orlando a 109-106 lead with 8.7 seconds left.
Philadelphia 76ers had a chance to tie, but J.J. Redick stepped out of bounds on a dribble handoff, and Nikola Vucevic iced the game away with two free throws.
Vucevic scored a season-high 30 points to go along with eight rebounds, and Aaron Gordon added 17 points and six rebounds. Orlando has now won five of its last eight games.
Redick led the 76ers with 22 points. Joel Embiid earned his league-leading 15th double-double with 19 points and 13 rebounds, but was held to just three points in the second half. All seven of Philadelphia’s losses have come on the road.
Butler had 14 points in his first game for Philadelphia after being traded from Minnesota last Saturday along with Justin Patton for Robert Covington, Dario Saric, Jerryd Bayless and a second-round pick.
Orlando overcame a 16-point, fourth-quarter deficit in a hurry. The Magic went on a 21-0 run in just under four minutes early in the fourth quarter.
The run was highlighted by Jonathan Isaac stuffing Embiid at the rim. The Magic went the other way and Ross hit a 3-pointer in transition. After a Sixers’ time out, Jonathon Simmons hit a jumper to give Orlando a 97-92 lead. — Reuters

‘No way’ Durant remains Warrior after this season

LOS ANGELES — Draymond Green received a one-game suspension and Kevin Durant had little to say to the media. But in the wake of the sideline dust-up between the two Golden State Warriors stars, multiple reports have surfaced alleging that Durant’s impending free agency had something to do with the exchange, and that the exchange may have cost the club a shot at holding onto Durant.
The incident occurred Monday night, after Green failed to get Durant the ball on the final play of regulation against the Clippers. The Warriors did not score and Los Angeles won 121-116 in overtime.
Some teammates reportedly confronted Green in the locker room for his decision-making on the play, and the following day Green received a one-game suspension without pay from the team for “conduct detrimental to the team.” He served the suspension Tuesday night at home against Atlanta, forfeiting $120,000 in the process.
Tuesday night, The Athletic’s Marcus Thompson II reported that some people in the organization believe the exchange could cost the team the shot at retaining Durant after this season.
“With what was said, there is already no way Durant is coming back,” one Golden State player reportedly told Klay Thompson. “The only hope is that they can say this summer, ‘See, KD. We’ve got your back. We protected you from Draymond.’”
Following the final play in regulation Monday, when Green grabbed a rebound and dribbled up the court before fumbling the ball in traffic at the top of the key, an upset Kevin Durant and Draymond Green exchanged heated words on the sideline.
“We just felt like this rose to the level of acting the way that we did,” Warriors general manager Bob Myers told reporters in comments published by ESPN. “That’s a decision that we have to make. I’m certainly involved in it, so is Steve (Kerr). … This was something that required the action that we decided upon.”
Speaking with the media on Tuesday, Durant would not divulge what was said: “I’m going to keep that in house. That’s what we do here. Obviously, I know you guys got a job to do but I’m not trying to get nobody no headlines. What happened, happened. We’re trying to move on, just trying to play basketball.” — Reuters

Coach of the Year

Yesterday was a veritable roller-coaster ride for Detroit Pistons head coach Dwane Casey. As expected, his first visit to the Scotiabank Arena since he was booted out of Toronto Raptors territory produced mixed emotions. For five years, The North was his home, and he led it — and, just as crucially, its charges — to improvements season after season. For all the strides he made, however, he couldn’t solve the LeBron James puzzle in the playoffs, where the triumphs truly counted, and the perceived ceiling under this watch sent him packing.
To be fair, the Raptors did acknowledge Casey’s contributions in pregame interviews, as well as in a video tribute during the first time out. Nonetheless, they clearly wanted to send a message that they’ve moved on, and are, in fact, all the better for doing so. Even as they sported a league-leading 12-2 slate heading into the contest, they aimed to prevail by way of punctuating their break from his dispensation. Their objective: to show all and sundry that erstwhile assistant Nick Nurse was doing even more wonders in his stead.
Needless to say, Casey likewise meant to convey his thoughts about the divorce through the Pistons’ performance. And, to their credit, they played to their potential, with top dog Blake Griffin proving particularly productive; he put up 30 (on 13 of 23 shooting from the field), 14, and three over 40 minutes for a plus-six rating. True, they remain a work in progress, just as capable of stringing together triumphs as setbacks. If there’s anything yesterday showed, however, it’s that the five-time All-Star relishes, and deserves, his high-usage role as point forward; he’s exactly what DeMar DeRozan used to be for the Raptors, but with more versatility.
All told, yesterday couldn’t have turned out better for Casey. After touching base with the Raptors anew, he emerged with a win crafted to instill maximum heartbreak for the latter. A last-second shot following a spirited rally from 19 points down secured the outcome for the Pistons, who clearly spared no effort in their desire to gift him with good vibes. It was their first in seven — and just the third in 12 — contests against the hosts. Most importantly, it was his first. There will be more encounters in the horizon, but it served his purpose. He’s reigning Coach of the Year for a reason, and he proved it.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

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