Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 10198

Manila Wrestling Federation continues to ring its bells in ‘MWF 6: Noche Buena’ sets at UP Diliman, Bahay ng Alumni

MANILA Wrestling Federation — the hottest and fastest-rising live entertainment spectacle in Metro Manila — continues its unique blend of athleticism and “AksyoNovela” storytelling into its special holiday presentation, “MWF 6: Noche Buena,” to be held at the UP Bahay ng Alumni, Diliman, Quezon City on Dec. 1. Gates open at 5:00 p.m.
Offering more of its ever so highly entertaining and action-packed brand in the jolliest month and closing their first official year with exciting matches and fun-filled stories, MWF shares the gift of awesome wrestling that will have you wanting to be Nice instead of Naughty in Santa’s list.
The Federation’s resident hypebeast Khayl Sison, who is quickly becoming one of Philippine entertainment’s most naughtiest hated villain, has issued an open challenge to anyone who wants to try taking him down. Who will step up to the plate?
The ever-cool MWF resident action hero Gigz Stryker and his trusty sidekick RG, cap off their wild and eccentric cinematic adventure against the charismatic cult leaders of “Ang Bahay ng Liwanag” in “Sagot Kita 6: D’ Final Showdown,” the finale of the film series featuring the MWF performers as well as film and TV star JC Santos.
One of the night’s historic main events involves MWF’s Mr. Lucha continuing his war against “Mr. Philippine Wrestling” Jake De Leon. Will he finally be tamed and get his punishment? Or will he emerge victorious in this bitter, hate-filled rivalry?.
Even when in the crosshairs of “Danger” Rex Lawin, the perfect gift awaits either the high-flying, risk-taking Robin Sane or the streetwise bully from Batasan, Fabio Makisig, who will face off in a match to become the first-ever MWF Champion, along with a cash prize of P20,000.
Watch the most entertaining live event in the metro and experience thrills like no other, because MWF is truly #MakingWrestlingFun!
Visit MWF’s official news site, www.mwfinsiderblog.com, for more awesome content and ticket reservations. You may also download the Ticket2Me app, MWF’s partner in online ticketing, or visit www.ticket2me.net, where “KapaFEDS” can buy tickets online and pay easily through different outlets such as local banks, Paypal or 7-11 stores nationwide.

Sexton’s career-high 29 helps Cavaliers drop Rockets

LOS ANGELES — Cleveland rookie Collin Sexton scored a career-high 29 points in his eighth consecutive start, and Tristan Thompson recorded his third consecutive double-double as the Cavaliers defeated the visiting Houston Rockets 117-108 on Saturday.
Sexton, starting for the injured George Hill, shot 14-for-21 to lead a balanced Cleveland offense.
Thompson finished with 16 points and 20 rebounds, 11 offensive, and Jordan Clarkson came off the bench to score 20 points, grab five rebounds and dish out four assists.
Chris Paul had the night off for the Rockets. James Harden took over the point guard position, and Eric Gordon stepped into the starting lineup.
Harden was his normal self, scoring 40 points with 13 assists, but made just seven of 12 free-throw attempts. Harden committed two free-throw violations on back-to-back attempts midway through the third, and the Cavaliers took advantage, opening up an 87-74 lead when Sexton scored on three straight possessions.
The Cavs, who are now 4-1 when leading after three quarters, took a 93-83 advantage into the fourth and seemed in control.
But Gordon, who came into the game averaging 13.9 points and just 24% from 3-point range, heated up. His 30-foot, 3-point jumper after a turnover by Andrew Harrison cut the Rockets’ deficit to 106-99 with 5:37 remaining in the game.
Gordon finished with a season-high 28 points and made five of 11 from beyond the arc.
After a technical foul on Cleveland assistant James Posey, the Rockets got within six at 106-100. But Clarkson hit two jumpers, and Rodney Hood connected on a 3-pointer from 25 feet and the Cavs were back up 115-104.
Both teams were playing the second of back-to-back nights. The Cavs were coming off a shocking upset win over the Sixers in Philadelphia on Friday night, while the Rockets were losing in overtime to the Pistons in Detroit.
The Cavs led 63-58 at halftime despite Harden scoring 24 and Gordon’s nine points and three steals.
Sexton had 15 first-half points, Kyle Korver added 12 off the bench and Thompson had eight points and 13 rebounds. — Reuters

MPBL ambassadors

LAMITAN, BASILAN — The Maharlika Pilipinas Basketball League just have a new milestone in holding the first ever regular game in this previously known war-torn province.
There were apprehensions from MPBL teams to go here when the idea of staging a double header of the Datu Cup was first brought up, but Basilan, thru Governor Mujiv Hataman, Vice Mayor Julz Hataman and team owner Hegem Furigay were more than willing to show Basilan in a good light.
True enough, the thirst for the game was much visible as local folks here lined up to get tickets to support their very own Steel.
They packed the Lamitan City New Gymnasium, hoping to watch the Steel play in their first home game.
Regardless of the outcome, being able to bring in the four teams from the MPBL Datu Cup — the Steel, the Davao Occidental Tigers, the General Santos City Warriors and the Pasig Pirates — was a proof of Basilan’s determined stand of changing the image of the province.
The leaders here felt that sports will be a unifying factor as the province has just started creating a sports academy right at the heart of the provincial capitol.
What we saw on Saturday night was a different Basilan — peaceful, organized, passionate in the game of basketball and more importantly, gracious in defeat.
It’s a kind of Basilan far from what we’ve imagined.
This is just the start of the province’s way of refreshing its image. Basilan is ready to make its mark now, not on the cover of the daily newspapers were depressing updates are being put up, but in the headlines of the sports pages where it is determined to show the triumph of human spirit thru perseverance, sportsmanship, and excellence in the field of basketball.
The members of the Basilan Steel are not just your ordinary competitors in the MPBL. They are also the ambassadors of the game while competing in the fastest growing regional amateur league put up by Senator Manny Pacquiao with PBA legend and former MVP Kenneth Duremdes serving as commissioner.
 
Rey Joble is a member of the PBA Press Corps and Philippine Sportswriters Association.
reyjoble09@gmail.com

Pride

When J.R. Smith opted to make public his spat with the Cavaliers, he took pains to note that he no longer believed the franchise to be interested in winning. He struggled with management’s decision to cut his playing time in favor of a youth movement, and he sought — and received — permission to stay away from the team while options were being explored in regard to his employment. The target was to find new digs for him and, in the process, formalize the divorce.
At first glance, pundits could reasonably consider Smith’s arguments. After all, he was a starter for the Cavaliers through their Finals, and championship, stints, and both Tyron Lue and coaching successor Larry Drew seemed to want to keep him on the court despite overtures from general manager Koby Altman for minutes to be apportioned to newer players. On the other hand, there can be no propping up his swooning stats; those from the outside looking in could likewise argue with merit that he was a bane and not a boon to the cause of the wine and gold. Who can forget, for instance, his monuments faux pas at the end of regulation in Game One of the 2018 title series?
Parenthetically, there is likewise the fact that the Cavaliers lavished a lucrative multi-year contract extension on All-Star Kevin Love, hardly the move a tanking franchise would make. If anything, they were bent on proving to all and sundry that they could still be a force to reckon with even with the departure of acknowledged lifeblood LeBron James. They likely tempered their expectations when he went down due to injury and figures to be out until well into the new year, as well as in light of the seemingly slow progress or heralded rookie Collin Sexton. Still, their aim was to do their best for the present and not withhold it for the future.
Under the circumstances, the Cavaliers are right. The time Smith contends he deserves is better spent on others. And if there’s any question on how they approach the contests on their schedule, fans need only point to their spirited stand in the last week. They almost prevailed during the Lakers’ visit to the Q with James in tow and then actually did against the vaunted Sixers and Rockets. If their intent is to put themselves in prime position to claim the top spot in next year’s draft lottery, they’re doing a very bad job of it.
Which is not to say the Cavaliers will wind up in the playoffs sometime soon. Even with Love on active duty, they simply lack the firepower to avoid crowding the Hawks at the bottom of the East. That said, there is nothing to suggest they’re just going through the motions. As Drew so emphatically underscored, it’s not how they roll. They may not have the talent, but they have the pride. And it’s the right kind, not the misplaced one Smith is clinging to contrary to reality.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

BSP to exempt some trust accounts from bank reserves

By Melissa Luz T. Lopez, Senior Reporter
THE central bank will soon exempt certain trust accounts from bank reserves, a senior official said, which refer to special-use funds kept as deposits from companies.
Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier said the Monetary Board has approved the removal of institutional trust accounts from the computation of required reserves (RR) maintained by banks.
“On the trust accounts, for special institutions with trust accounts with a very defined purpose, the BSP is already exempting them from the reserve requirement. This is upon the effectivity of the circular which would still be published,” Ms. Fonacier said.
Asked for more details, the central bank official said the easing of rules covers Specialized Institutional Accounts under Trust (SIT).
This includes arrangements created by institutions, foundations, agencies from both government and private sector players which are “primarily for charitable, religious, educational, athletic, scientific, medical, cultural, specialized lending or developmental projects,” according to existing BSP rules.
Ms. Fonacier added the reform was made following a request made by the industry.
Since June, universal and commercial banks are only required to keep 18% of deposits intact from 20% previously. The two cuts in the reserve requirement ratio have freed up a total of about P200 billion for increased lending and bank investments.
“SIT may be granted exemption from RR as these accounts were established for a defined and specific purpose and determinable beneficiaries. Imposing RRs on these accounts hinders the main purpose for their establishments,” Ms. Fonacier said.
However, she noted that the new rule will have a “minimal impact” in bank liquidity.
BSP Governor Nestor A. Espenilla, Jr. has said that the central bank will hold off further reserve cuts until next year, only until inflation eases back to the 2-4% target in 2019.
Inflation is currently at nine-year highs at 6.7% in September and October, which brought the year-to-date average to 5.1%.
Still, Mr. Espenilla said that they will keep on with a gradual reduction in deposit reserves to eventually reach single-digit levels, in order to reduce borrowing costs and make the local banking system more competitive to regional peers.

Metrobank founder George Ty passes away

Metrobank founder George S.K. Ty — WWW.GTCAPITAL.COM.PH

TYCOON and Metropolitan Bank & Trust Co. (Metrobank) founder George S.K. Ty passed away on Friday, Nov. 23. He was 86.
“It is with deep sadness that we announce the peaceful passing of our beloved Founder and Group Chairman Dr. George S.K.Ty. He was surrounded by family and loved ones at the time,” Metrobank said in a statement.
Mr. Ty, the country’s ninth-richest man, founded Metrobank in 1962 and spent decades expanding its reach at home and abroad. Metrobank is now the second-biggest bank in the country.
Forbes Asia magazine pegged Mr. Ty’s net worth at $2.75 billion in its latest rich list published in September.
Beyond banking, Mr. Ty also diversified his business interests by venturing into insurance, leasing, and car distribution. This has since grown into GT Capital Holdings, Inc., which is one of the biggest conglomerates listed at the Philippine Stock Exchange.
Among the group’s subsidiaries are Toyota Motors Philippines Corp., the Philippine Savings Bank, investment banking arm First Metro Investment Corp., property firm Federal Land, Inc., and the Philippine AXA Life Insurance Corp.
Mr. Ty has been serving as chairman emeritus of the Metrobank Group since 2008, with his sons Arthur and Alfred taking his place. He was also the chairman emeritus of listed GT Capital.
Earlier this month, Mr. Ty was conferred the 2018 MVP Bossing Lifetime Achievement Award by PLDT Inc., in recognition of his successful career in business.
Memorial services will start on Sunday, Nov. 25 at the Heritage Park in Taguig, Metrobank said.
In lieu of flowers, Metrobank said donations to the Philippine National Red Cross, CBCP Caritas Filipinas Foundation and Philippine Disaster Resilience Foundation “will honor his spirit of generosity and memory.” — Melissa Luz T. Lopez

Credit gap in agriculture seen over P360B — BSP

Chuchi Fonacier
BSP Deputy Governor Chuchi G. Fonacier — Photo by Asia Microfinance Forum

BANK financing remains out of reach for most agricultural firms, with the central bank noting that the credit gap worth over P360 billion as lenders skirt lending quotas under the law.
Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier said on Friday that banks have remained stingy towards farmers, fisherfolk and other agribusinesses, amid perceptions that lending to the industry would be “risky and unprofitable.”
This leaves at least P367 billion in unmet funding needs for the sector, which has likewise capped growth and productivity.
“Our figures as of present reveal that the gross domestic product (GDP) contribution of agriculture sits only at 9%. The percentage of loans for production and economic activity for agriculture, along with fisheries and forestry, is a paltry 2.9%, while the credit gap currently sits at P367 billion,” Ms. Fonacier said in a speech during the Agriculture Value Chain Financing forum held at the BSP headquarters in Manila.
Members of the Philippine Chamber of Food & Agriculture, Inc. (PCAFI) even see a wider gap, saying that banks should allot as much as P1.1 trillion for agro-industrial activities.
Passed in 2010, Republic Act 10000 or the Agri-Agra Reform Credit Act mandates banks to allot at least 10% of its total loanable funds to agrarian reform beneficiaries and 15% for farmers and fisherfolk.
Despite this, banks choose to pay fines rather than lend to the sector. Philippine banks only extended P629.98 billion loans to the agriculture sector as of end-June, or just 54.7% of the P1.151 trillion they should have lent out to beneficiaries during that period, according to BSP data.
Compliance has remained dismal even after the value chain framework was introduced in 2016.
Under the scheme, farm sector borrowers are evaluated as part of a bigger and organized “value chain” or a linked sequence of product processing from raw materials to final consumer goods. This should boost their chances in securing loans, as the BSP said that lenders may use accounts receivable and confirmed client orders as basis for checking if they are credit-worthy.
To carry out this reform, the PCAFI said during the forum that banks should devote credit officers to assess agriculture-related loan applications.
“I’m asking that the banks create an agri-banking department for agriculture. They (should) hire people who are knowledgeable in agriculture and the dynamics of agriculture, those will be their loan officers,” PCAFI president Danilo V. Fausto told reporters.
“Look at my business opportunities, rather than my collateral.”
He noted that this entity should be separate from loan officers granting real estate mortgages, and should use a different model in assessing farm sector borrowings.
GDP growth eased to 6.1% in the third quarter, with agriculture posting a 0.4% contraction year-on-year as farm output reeled from typhoons which barrelled the country during the period, according to the Philippine Statistics Authority. — Melissa Luz T. Lopez

Palace deploys more troops to Samar, Negros, Bicol

PRESIDENT Rodrigo R. Duterte has ordered the immediate deployment of more troops to “suppress lawless violence and acts of terror” in the provinces of Samar, Negros, and the Bicol Region.
Executive Secretary Salvador C. Medialdea, by order of the President, signed Memorandum Order No. 32 on Nov. 22 directing the Department of National Defense (DND) and the Department of the Interior and Local Government (DILG) to coordinate the immediate deployment of additional forces of the Philippine National Police (PNP) and the Armed Forces of the Philippines (AFP) to the provinces of Samar, Negros Oriental, Negros Occidental, and the Bicol Region.
The memorandum noted that “a number of sporadic acts of violence have occurred recently” in the said areas, “which appear to have been committed by lawless groups.”
“There is a need to reinforce the directive of the President in order to prevent further loss of innocent lives and destruction of property and bring the whole country back to a state of complete normalcy as quick as possible,” the memorandum stated.
“At all times, the constitutional rights of every individual shall be respected and given due regard” by the AFP and the PNP, it added.
“No civil or political rights are suspended during the existence of a state of national emergency on account of lawless violence. In particular, the AFP and the PNP are enjoined to observe existing rules and jurisprudence in instances that may justify the implementation of warrantless arrests, searches and seizures, as well as ensure compliance with guidelines for police/military checkpoints and stop-and-frisk situations,” the memorandum said.
In a statement, Presidential Spokesperson Salvador S. Panelo cited the “wave of lawless violence” in Samar, Negros, and Bicol.
Mr. Panelo cited incidents in Samar that involved the ambush of soldiers who were providing relief to victims of a typhoon, an armed attack at a police station, an ambush attack against the 63rd Infantry Battalion, and assault on the former mayor of San Jose de Buan.
In the province of Negros Oriental, Mr. Panelo said there were “torching of heavy equipment in Manjuyod, strafing of the house of the barangay chairman, attack of police detachments, and the killing of a police chief in separate occasions in Guihulngan.”
He also mentioned the attack against the 62nd Infantry Battalion while they were conducting clearing and combat operations in preparation for the barangay and Sangguniang Kabataan elections in Kabankalan and the massacre of nine farmers in Sagay in Negros Occidental.
“The Bicol Region has also suffered from a series of instances of lawless violence which include the ambush of the convoy of Food and Drug Administration (FDA) Director-General Nela Charade Puno in Camarines Sur, firefights in Lagonoy, and clash in Bato, among others,” Mr. Panelo added. — Arjay L. Balinbin

5 justices in JBC short list for chief justice

THE Judicial and Bar Council (JBC) released its short list for the next Supreme Court Chief Justice, which include Acting Chief Justice Antonio T. Carpio and Associate Justices Lucas P. Bersamin, Diosdado M. Peralta, Estela Perlas-Bernabe, and Andres B. Reyes Jr.
“All five (are) in the shortlist for CJ after closed-door panel interview,” Justice Secretary and JBC Ex-Officio Member Menardo I. Guevarra said in a message to reporters on Friday evening.
The JBC conducted the closed-door panel interview of all the candidates on Friday afternoon.
Ms. Perlas-Bernabe and Messrs. Bersamin, Carpio, and Peralta received six votes from the JBC, while Mr. Reyes got five votes.
Mr. Guevarra said the list will be sent to President Rodrigo R. Duterte before the end of Friday. Under the Constitution, Mr. Duterte should name a new chief justice within 90 days of the vacancy. Chief Justice Teresita Leonardo-de Castro retired last Oct. 10, 2018. — Gillian M. Cortez

Comelec issues guidelines for election gun ban exemption

THE Commission on Elections (Comelec) has issued guidelines for those seeking to apply for a gun ban exemption during next year’s national and local elections.
In a statement on Friday, the Comelec said those seeking exemption from the gun ban during the election period of Jan. 13, 2019 to June 12, 2019 can apply for a Certificate of Authority (CA) pursuant to Comelec Resolution No. 10446.
“Qualified persons and entities may seek exemption to the Gun Ban and other prohibited acts by applying for the appropriate Certificate of Authority (CA) at the COMELEC through the Committee on the Ban on Firearms and Security Personnel (CBFSP),” Comelec said.
Comelec Spokesperson James B. Jimenez said in a social media message that application for the CA “must be submitted to the Gun Ban Committee” located at the CBFSP Office at the COMELEC Main Office.
He added that application period will be “from December 1, 2018 to May 29, 2019.”
Without a CA, carrying and transporting firearms and other deadly weapons during the election period will be prohibited as this is considered an election offense according to the Omnibus Election Code. — GMC

MMDA launches NCR development plan

THE Metropolitan Manila Development Authority (MMDA) has launched the Regional Development Plan for the National Capital Region (NCR) for 2017 to 2022, a development framework designed to transform Metro Manila into a highly competitive East Asian metropolis.
“The 2017-2022 Regional Development Plan targets to address poverty, expand economic opportunities through Trabaho at Negosyo, continuing free basic education and improvement of technical education, implement modern and seamless transportation, and ensure water security,” MMDA said in a statement.
The development plan, which MMDA Chairperson Danilo D. Lim said will serve as the region’s framework for socioeconomic development for the next four years, was patterned after President Rodrigo R. Duterte’s Socioeconomic Agenda.
Mr. Lim will serve as the plan’s chairperson.
“This is a milestone activity for Metro Manila. We celebrate the completion of a regional development plan for NCR, our own contribution in support of the Philippine Development Plan of the current administration of our President,” said Mr. Lim.
“[It] identifies basic baseline and target indicators that will serve as basis for monitoring the planned implementation and consequently measure NCR’s contribution to making an inclusive, connected and a resilient metropolis in support of Ambisyon Natin 2024,” he said.
NCR is ranked 14th among the world’s largest urban cities and 18th among the world’s largest metropolitan areas. It is home to a 12.9-million population. — VACF

DENR, MICC push for lifting of MPSA applications

THE Department of Environment and Natural Resources (DENR) and the Mining Industry Coordinating Council (MICC) are lobbying for the lifting of the moratorium on applications for mineral production sharing agreement (MPSA), which can only be possible with a new fiscal regime, according to an official.
“We are lobbying, timing lang siguro. DENR and MICC are lobbying for the lifting,” Wilfredo G. Moncano, director of the Mines and Geosciences Bureau (MGB), told reporters.
“Yung EO (Executive Order) 79 says that the moratorium on MPSA application can only be lifted if there is a new fiscal regime, meaning taxation. Our argument is there is already the TRAIN (Tax Reform for Acceleration and Inclusion) 1, doubling the excise tax but DoF (Department of Finance) says that they still need to impose the royalty on mining operations outside mineral reservations which is under TRAIN 2,” Mr. Moncano added, clarifying that applications for exploration are still possible.
EO 79 was signed by former President Benigno S. Aquino III on July 6, 2012. It increased the number of sites restricted for mining, and limited small-scale mining operations within a declared Minahang Bayan. The order aims to increase the government’s share in profit made by mining companies.
“Hindi pa napasa ang TRAIN 2, napasa na ng House. Ang position namin ay much lower. We were suggesting at 3% only,” Mr. Moncano said, in reference to the excise tax increase to 4%. There is also a proposal of an imposition of 5% royalty fee for mining companies.
“May mga mining companies na nag-express na nabibigatan sila. They said it will have inflationary effect because ipapatong nila yan sa presyo ng kanilang products,” Mr. Moncano said. — R.J.N. Ignacio

1...10,19710,19810,199...12,768Page 10,198 of 12,768
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube