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UFC seeks to complement growth in Asia with China performance institute

HAVING successfully grown its business in Asia throughout the years, the Ultimate Fighting Championship is out to enhance its ascent further with the establishment of a performance institute in China.
To rise in Shanghai, the UFC Performance Institute, expected to open in the second half of 2019 and the second of its kind in the world after the original institute in Las Vegas, is designed to bring the UFC to more people in Asia, be they athletes or fans, officials said.
Officially announced by the globally known promotion on Tuesday, the UFC Performance Institute Shanghai will serve as a training hub to develop and support mixed martial arts athletes from mainland China and the greater Asia-Pacific region, including the Philippines.
The UFC will also utilize the building as its headquarters in Asia, housing UFC employees and UFC Performance Institute staff, including experts in the fields of MMA, strength and conditioning, sports science, physical therapy, and nutrition.
The facility will also have built-in advanced production capabilities with spectator seating that will allow the UFC to produce and distribute live events and other original programming.
Additional features of the institute will include hospitality suites, dining, retail services, and a fan experience area. When completed, the multimillion-dollar facility will span more than 93,000 square feet, approximately three times the size of the original UFC Performance Institute in Las Vegas.
Speaking to BusinessWorld prior to the announcement of the establishment of the UFC Performance Institute Shanghai, Kevin Chang, UFC Vice-President of Asia-Pacific, said that considering how the UFC brand is being received in this part of the world, the setting up of the facility is a logical next step for them.
“Commercially we have had success here. Our business has grown and we continue to grow as a brand. Our fan base has grown and all indicators such as engagement on social media, viewership level and attendance in our events point upwards. And we believe this is the best time to build something like this. We hope for this to benefit the entire region in establishing a clear path for people to the UFC,” Mr. Chang said.
“The Institute should help MMA athletes bridge the gap for them to go to the next level and progress to their goals of making it to the UFC,” he added.
The UFC official went on to say that Filipinos are among the markets they hope would tap into the establishment of the institute as the Philippines is a place that is important for the UFC.
“The Philippines is one of our important markets in Asia given how passionate the fan base is there for combat sports in general and, recently, mixed martial arts in the UFC. What we really know that will set it on fire is having that transcendent athlete from the Philippines to have a lot of success. That’s not rocket science. It’s just a fact at the end of the day,” Mr. Chang said.
“We do have Filipino athletes competing in the UFC and this institute is for UFC athletes as well, much like that in Las Vegas where UFC athletes can use it. We know that there are still a lot athletes there who can benefit from this,” he added.
Expecting the MMA ecosystem in Asia to grow even further with the UFC figuring in it, Mr. Chang said it is possible that similar institutes could rise in other parts of Asia down the line even as he reaffirmed their commitment to the region with more engaging offering.
“Absolutely. All of those things are possible. We have our original performance institute in Las Vegas. This is only the second such institute and sure there are plans to replicate such as we continue to expand globally,” he said.
The UFC opened the first UFC Performance Institute in Las Vegas in 2017 as the world’s first MMA multidisciplinary research, innovation, and training center. Through the first 17 months of operation, over 400 athletes on the UFC roster have utilized the facility and the services provided remotely. In addition, several dozen National Football League, National Basketball Association, National Hockey League, Major League Baseball and Olympic sports athletes have visited the facility for support during their off-season training. — Michael Angelo S. Murillo

MPBL: Davao Occidental Tigers extend winning streak to nine

DAVAO Occidental, a team from down south in the MPBL Datu Cup, has joined the mix of championship contenders.
For nine straight games, the Cocolife-backed Tigers were able to dispatch their opponents to vault their way to the top capped by their latest 93-68 demolition of the Zamboanga Valientes-Family’s Brand Sardines Tuesday night.
Davao Occidental’s victory over Zamboanga enabled the team to improve to 11-3 mark to lead the pack in the southern division of this tournament put up by Senator Manny Pacquiao with PBA legend and member of 40 Greatest Players Kenneth Duremdes serving as the commissioner.
So steady were the Tigers that they were able to shoot 50% from the field (39-of-78). They were also more active in getting the rebounds as they clobbered the Valientes in the battle of the boards, 53-30. Davao Occidental unleashed its superiority by playing better as a team, dishing out 13 more assists than Zamboanga, 29-16.
Davao Occidental’s surge was led by veteran Mark Yee, the former PBA player, who is also one of the prime candidates for this season’s MVP award. The journeyman had a another double-double effort of 25 points and 12 rebounds.
The Tigers may be sitting comfortably at the top of the standings, but survival is the name of the game for the Classic of Valenzuela, which hammered out a 78-64 triumph over struggling Mandaluyong.
The host team posted its first back-to-back victories since Eric Samson took over as mentor of the Classic, who now improved their win-loss record to 6-9.
Chris de Chavez caught fire, hitting 20 markers highlighted by a steady six-of-10 shooting from the three-point region to lead the way for the Classic, who led by as many as 22 points, 65-43. — Rey Joble

Tata Steel India

Back in the 1980s there was a big push to promote rapid chess events all over the world and Yasser Seirawan’s “Inside Chess” publication even took it upon itself to administer rapid ratings in the United States. This was in addition to the World Blitz Chess Association (WBCA) of GM Walter Shawn Browne. What is the difference between “Rapid” and “Blitz”? Surprisingly a lot of people do not know the demarcation point at which a game becomes either rapid or blitz. For example, what is the classification of a 15-minute game? Take note that the rules for over-the-board games are not the same as in online chess. We will confine our discussion today to over-the-board.
According to FIDE, Rapid chess is when the total time per player for a 60-move game must be more than 10 minutes but less than 60 minutes. For the FIDE World Rapid Championship, each player will have 15 minutes, plus 10 seconds additional time per move starting from move 1.
Blitz chess is when the total time per player for a 60-move game must be 10 minutes or less. For the FIDE World Blitz Championship, each player has three minutes, plus two seconds additional time per move starting from move 1.
Let’s go through some examples. A five-minute game is of course blitz while a five minute + five second increment is still blitz. Going through the numbers, five-second increment over a 60-move game comes up to 300 seconds or exactly five minutes. Five minutes + total five-minute increment over 60 moves equals exactly 10 minutes, which is the upper limit of a blitz game.
More than that, for example five minutes + six seconds, already falls under the realm of Rapid Chess.
After an initial surge of popularity the momentum did not quite carry and both “Inside Chess” and WBCA experienced financial difficulties and folded in the 1990s.
That was then, this is now. Rapid and Blitz chess are currently experiencing a resurgence and even have their own ratings now.
Some people think that the biggest reason for the new interest is that FIDE has started rating games in these new time controls but I do not agree. I think that the biggest reason is the QUALITY of the games.
Back in the early days the greatest compliment that could be paid to a rapid game was that its quality was almost like that of a regular tournament game. Well, it is true that when the time remaining falls to the last minutes a lot of slamming (of pieces) and banging (of clocks) occurs and it becomes a matter of whose flag falls first and not whose moves are better. However with the introduction of Fischer clocks in the 1990s with their time increment added after every move the result of the game becomes less random — the players now have time to think a bit before executing their moves.
Of course, this is to say nothing about the rise of computers and chess databases and that nowadays players can zip through the first 20-25 moves in under a minute.
The Tata Steel Group of India has lately organized the first super-tournament in many years in India and it is a five-day speed chess event — three days for the rapid portion (3 games per day for a total of nine games) and two days for the blitz (total of 18 games). Here are the results.

Tata Steel Rapid
Kolkata, India
November 9-11, 2018

Final Standings

1. Hikaru Nakamura USA 2844, 6.0/9

2-3. Pentala Harikrishna IND 2743, Levon Aronian ARM 2802, 5.5/9

4-5. Wesley So USA 2808, Shakhriyar Mamedyarov AZE 2794, 5.0/9

6. Sergey Karjakin RUS 2792, 4.5/9

7-8. Viswanathan Anand IND 2737, Vidit Santosh Gujrathi IND 2660, 4.0/9

9. Nihal Sarin IND 2127, 3.0/9

10. Surya Shekhar Ganguly IND 2608, 2.5/9

Time Control: 25 minutes for the entire game with 10 seconds added to your clock after every move starting move 1.
The Rapid portion was scheduled for three games a day. Hikaru Nakamura drew all his games in the first day, won all three of them in the second, and then drew all of his games in the third to capture first.
Wesley So came in fourth with a steady two-win one-loss six draws. Here is his best game.

So, Wesley (2808) — Vidit, Santosh Gujrathi (2660) [B33]
Tata Steel Chess India 2018 — Rapid Kolkata (5.3), 10.11.2018

1.e4 c5 2.Nf3 Nc6 3.d4 cxd4 4.Nxd4 Nf6 5.Nc3 e5 6.Ndb5 d6 7.Bg5 a6 8.Na3 b5 9.Nd5 Be7 10.Bxf6 Bxf6 11.c4 b4 12.Nc2 0 — 0
Black used to defend the b4 — pawn with either 12…a5 or 12…Rb8, but why defend the pawn at all? After 12…0-0 13.Ncxb4 Nxb4 14.Nxb4 Qb6 Black wins back the pawn with no problems.
13.h4 a5 14.g3 a4 15.Ndxb4 Nxb4 16.Nxb4 Qa5
A good candidate move is 16…Qb6 17.a3 Bd8! 18.Bd3 Qb7 19.0 — 0 Bb6 Black has good compensation with outposts for his bishops at d4 and h3. Sikula,V (2520) — Konnyu, J (2375)/Hungary 2010.
17.Qd2 Rb8 18.a3 Be6 19.0 — 0 — 0 Rfc8 20.Kb1 Qa8 21.f3 Be7 22.Bh3 Rxc4 23.Bxe6 fxe6 24.Rc1 Rbc8 25.Rxc4 Rxc4 26.Rc1 Qc8 27.Rxc4 Qxc4 28.Qd3 Qc5
[28…Qxd3+ 29.Nxd3 plays into White’s hands as the a4 — pawn is now a glaring weakness].
29.Ka2 Kf7 30.Qa6 d5? <D>
POSITION AFTER 30…D5
[30…Qe3 keeps the balance]
31.Nc6!
Apparently overlooked by Black who probably expected only 31.Qxa4 dxe4 32.fxe4 Qc4+ and Black holds the balance.
31…Bf6 32.Qxa4
White gets to keep his extra pawn.
32…Kg6 33.Na5 Kh6 34.Nb3 Qf2 35.g4 Qxh4 36.Qc6 Qf2 37.Qxe6 dxe4 38.Qf5 Bg5
[38…Qxf3 39.Qh5#]
39.Qxe4 g6 40.Qa8 Bf4 41.Qf8+ Kg5 42.Qd8+ Kh6 43.Qd5 Kg5 44.a4 h5 45.Qd8+ Kh6 46.g5+ Kh7
[46…Bxg5 47.Qh8#]
47.Qe7+ Kg8 48.Qe6+ Kg7 49.Qf6+ Kh7 50.Qf7+ Kh8 51.Qxg6 Qxf3 52.Qe8+ Kg7 53.Qe7+ Kg8 54.g6 Qd5 55.Qh7+ 1 — 0

Tata Steel Blitz
Kolkata, India
November 13-14, 2018

Final Standings

1-2. Viswanathan Anand IND 2786, Hikaru Nakamura USA 2893, 12.5/18

3. Levon Aronian ARM 2854, 12.0/18

4. Wesley So USA 2771, 10.0/18

5-7. Shakhriyar Mamedyarov AZE 2808, Pentala Harikrishna IND 2706, Vidit Santosh Gujrathi IND 2727, 8.0/18

8. Sergey Karjakin RUS 2836, 7.5/18

9. Surya Shekhar Ganguly IND 2547, 6.0/18

10. R Praggnanandthaa IND 2366, 5.5/18

Time Control: five minutes for the entire game with three seconds added to your clock after every move starting move 1.
There was a play-off to break the tie at 1st place. Anand won 1 and drew 1 to clinch the gold medal.
Vishy Anand, the undisputed speed chess for two decades starting the 90s, brought back some of his magic by tying for 1st and prevailing in the tie-breaks to win the blitz portion of Tata Steel Indoa.
It was still very much Nakamura’s show here too as his tactical skills were just devastating.

Mamedyarov, Shakhriyar (2817) — Nakamura, Hikaru (2746) [D24]
Tata Steel India Blitz Kolkata IND (5.1), 13.11.2018

1.d4 Nf6 2.c4 e6 3.Nf3 d5 4.Bg5 dxc4 5.Nc3 a6 6.a4 c6 7.e3 b5!?
Offering the exchange for a raging attack on the uncastled King. Watch.
8.axb5 cxb5 9.Bxf6
White can of course take the b5 pawn right away but Shakh prefers to take out the knight first.
9…gxf6
Not 9…Qxf6? 10.Nxb5 axb5 11.Rxa8 is an inferior form of this line as Black’s queen needs to be on d8 so that he can play Bb7.
10.Nxb5 axb5 11.Rxa8 Bb7 12.Ra1 Bb4+ 13.Ke2
No choice. 13.Nd2 e5 opens up the position in the center where White’s king is.
13…0 — 0 14.Qc2?
You will see why this is a bad move soon.
14…f5
With the idea of Be4.
15.Nd2 Nc6 16.Rd1 Qxd4!
The point.
17.Nf3
[17.exd4 Nxd4+ 18.Ke1 Nxc2+ 19.Ke2 Nd4+ 20.Ke3 e5 Black is clearly winning]
17…Qf6 18.b3 Bc3 19.Rc1 Bb2 20.bxc4 Nb4 21.Qb3 Bxc1 22.Qxb4 Ra8 23.Nd4 f4 24.Qxb5 fxe3 25.Qxb7 Ra2+ 26.Kd3 Rd2+ 0 — 1
Even here in the Philippines many tournaments are now held in rapid format. I should caution the National Chess Federation of the Philippines, though. The world championship cycle is still based on standard chess — the difference between standard and speed chess is not only in the time control. Standard chess you take less risks, your openings are different, there is more room for planning and strategy, and endgame play is much more important. Please do not think that a steady diet of speed chess is sufficient for our players — standard chess is still the norm.
 
Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant (CPA), he taught accounting in the University of Santo Tomas for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.
bobby@cpamd.net

Wizards woes

Such was the state of turmoil within the Washington Wizards that only 14,499 fans bothered to show up at the Capital One Arena last night. It wasn’t simply that they had lost their last two contests, and, up against the surging Los Angeles Clippers, looked ready to claim their 12th in 17 since the start of the season. It was why: Their last practice session had players barking at each other and head coach Scott Brooks, a reflection of the disarray that had hitherto marked their gross underachievement.
Indeed, the Wizards had been so plagued by listless play that the competition could not help but count on a triumph even before the opening tip. And, for a while there, they seemed to want to prove all and sundry right; they faced a whopping 24-point deficit with 6:01 left in the second quarter. To their credit, though, they kept plugging away and finally proved able to cut it to single digits shortly before the end of the third.
Significantly, the Wizards were even better in the payoff period, scoring 39 while limiting the Clippers to 23 en route to an emphatic victory. Needless to say, they stepped up their level of engagement in a show of force that underscored their potential. To be sure, it likewise put to the fore their inability — or, as the case may be, unwillingness to compete with consistency. They possess the talent to take the measure of the league’s best, and yet time and again succumb to seeming ennui.
Before the 2018-19 campaign began, the Wizards were tagged among the beasts of the East. With erstwhile conference king LeBron James gone and the race to the top bursting open as a result, they figured to crowd other contenders for the opportunity to make the Finals. Instead, they began their campaign with disappointment. Heading into yesterday’s homestand, they had earned the dubious distinction of compiling losing streaks of five and two games (thrice), with the last breaking a short skein of prosperity.
Only the Wizards know how the rest of the season will fare. If there’s any silver lining, it’s that they still have 65 matches to negotiate. And if they know what’s good for them, they would do well to build on their strong comeback yesterday. Otherwise, it will wind up to be nothing but a forgettable reprieve.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Xi meets Congress leaders, wraps up state visit

By Arjay L. Balinbin and
Camille A. Aguinaldo, Reporters
CHINESE President Xi Jinping on Wednesday wrapped up his two-day state visit to the Philippines, laying down to leaders of both chambers of the Philippine Congress his plans for the country, including creating more jobs for Filipinos, and a reaffirmation of stronger friendship between the Philippines and China.
President Rodrigo R. Duterte and Mr. Xi witnessed the exchange of 29 signed deals at Malacañang on Tuesday, most of which were memoranda of understanding (MoUs) covering a wide range of development initiatives on energy, infrastructure, agriculture, education, trade, monetary, and humanitarian assistance, among others.
‘EXPLORATORY DOCUMENTS’
Analysts sought for comment on Wednesday said these MoUs are mere “concepts” for now.
“The MoUs are just exploratory documents, but what is worth waiting for is how Congress will respond once these become agreements. We have to remember that all these agreements will not be binding unless Congress authorizes them. The role of Congress is to reaffirm whether all these agreements signed by the President are within the parameters of our Constitution,” University of Santo Tomas political science professor Marlon M. Villarin said in a phone interview.
For his part, international studies professor Renato C. de Castro of De La Salle University said these MoUs are similar to what were signed during Mr. Duterte’s first visit in Beijing in 2016 when he first “announced the country’s pivot to China.”
“Two years later, nothing much has been accomplished,” he said in a phone interview, adding that only a fraction of China’s loan pledges worth US$24 billion was released.
Ateneo Policy Center research fellow Michael Henry Ll. Yusingco said the “Chinese won’t even see the MoUs as merely a preliminary step.”
“I expect the signing of these MoUs will be packaged to them as essentially a done deal. And they will no longer be bothered to think otherwise,” he said in an email.
For his part, Union Bank of the Philippines chief economist Ruben Carlo O. Asuncion said the signing of the MoUs was “really tricky.”
“At least, there is some sort of paper that all parties can go back to. But, that’s really all there is to it. It’s very important that the Philippines be aware of what these supposed agreements really mean and how it can take advantage in the future,” he also said in an email.
Mr. Asuncion added that the visit actually “opens up economic opportunities for the country,” adding that “China is going to be the biggest economic power in the world in the next few years.”
“In terms of strategic sense, the Philippines is in the best position to be on the good side of the future’s biggest economy,” he also said.
Mr. de Castro said, “There is a degree of reluctance [on both sides] and there might be a bureaucratic inertia, and I think they are still having issues regarding the joint development on oil and gas. China wants the joint development but the administration is still wary, so they just settled for an MoU.”
For his part, Mr. Villarin said: “The signing of the MoUs [on oil and gas development] on the part of China is a clear admission and recognition of our sovereign rights or ownership over those contested islands and islets [in the West Philippine Sea].”
Presidential Spokesperson Salvador S. Panelo said that copies of the MoU on oil and gas development and other matters could not be released as of yesterday because the Department of Foreign Affairs (DFA), “which is the Office of Primary Responsibility during the state visit of Chinese President Xi Jinping to the country, [was] still preoccupied with activities on Day 2 of the Chinese leader’s visit.”
Mr. Yusingco for his part said, “Filipinos should not see these MoUs as the final product. We have to push the Duterte administration to be more transparent about their dealings with China, especially matters covered by the MoUs. I expect the DFA to show us the details of the proposed agreement, and listen to what we have to say…. Ramming these agreements on us will be a big mistake.”
The challenge now, Mr. Yusingco added, “is to bring this issue onto the campaign discourse.”
“We must take Senatorial and Congressional candidates to task about our country’s pivot to China; we must pressure them to reveal their stand on these MoUs and with the broader China policy,” he also said.
‘REFERENDUM’
Citing the latest Social Weather Stations (SWS) survey report that said 84% of Filipinos reject the government’s “inaction” on the South China Sea disputes, Mr. Villarin said this issue, which is “both political and economic,” can be a “referendum” whether it will have an impact on the 2019 midterm elections.
Mr. Xi’s visit, Mr. Villarin added, “was a show of economic strength through China’s strong political and economic relationship with the Philippines.”
“They were straight to the business. Their gesture was a show of force, how economically strong and how politically influential they are when it comes to their relations with their neighboring countries,” he said. “The visit shows a good indicator on the diplomacy of the Philippines; because regardless of our economic, political, and social differences, both heads of states are still open to political and economic dialogues.”
Senate President Vicente C. Sotto III said in his statement following his meeting with Mr. Xi that “there is certainly much more that binds the Philippines and China together than what may divide the two, and it is in the spirit of friendship that the Philippine delegation welcomed His Excellency Xi to the Philippines.”
The Senate leader also said in his statement that President Xi “laid down to the members of Congress his future plans for Filipinos, which include increasing job opportunities for Filipino teachers and nurses; multiplying mutual visits from 1 Million to 2 Million; and opening up free trade to the Philippines, among others.”
For her part, House Speaker Gloria M. Arroyo said: “On the part of the House of Representatives, to help maximize the benefits of increased joint activity with China, our legislative agenda is focused on areas that are essential to economic activity such as generating fiscal resources to improve our country’s infrastructures. Going forward, implementation will now be the key to maximizing the benefits of growing economic trade and investment relations between our two countries. In this area, the traditional oversight function of the legislative will be useful in encouraging our implementers from the Executive Branch so that they can maintain focus and strive for maximum results in the shortest possible time.”
In the joint statement of the Philippines and China, both sides “agreed that the milestone visit of President Xi Jinping has contributed to the advancement of friendship and cooperation” between the two countries.
“President Xi Jinping appreciated the warm and friendly hospitality accorded to him and his delegation by President Duterte and the Philippine government, and extended an invitation to President Duterte to attend the second Belt and Road Forum for International Cooperation to be held in Beijing, China in April 2019. President Duterte accepted the invitation with pleasure.”

Faeldon takes oath as BuCor chief

NEW Bureau of Corrections (BuCor) Director General Nicanor E. Faeldon took his oath Thursday before Justice Secretary Menardo I. Guevarra and will formally assume his post next week.
“He will make a number of announcements about what he plans to do with the Bureau of Corrections in due time after the formal turnover of responsibilities which would probably happen by early next week,” Department of Justice (DoJ) spokesperson Markk L. Perete told reporters after the BuCor’s chief oathtaking. He added that Mr. Faeldon will also inspect the New Bilibid Prison.
Mr. Guevarra disclosed Mr. Faeldon’s appointment on Oct. 12 and President Rodrigo R. Duterte signed his appointment papers on Nov. 20.
Mr. Perete also said the justice secretary has briefed Mr. Faeldon about the management of BuCor.
Mr. Guevarra also discussed with Mr. Faeldon the possibility of transferring the facility of BuCor, citing congestion and security concerns.
“(F)rom what I understand, maximum facility would not be transferred but the others may be transferred to a different location,” Mr. Perete said.
Mr. Perete said the New Bilibid Prison has a holding capacity of 10,072 inmates but currently holds 27,071 prisoners or 170% more than the capacity. Nationwide, the overcapacity of BuCor facilities is at 30%.
Mr. Faeldon resigned as Bureau of Customs chief last August 2017 following the controversy over the P6.4 billion-worth of illegal drugs that entered the country in May 2017.
He was then appointed in December last year as deputy administrator III of the Office of Civil Defense. — Vann Marlo M. Villegas

Trillanes files motion seeking travel abroad

SEN. ANTONIO F. Trillanes IV has asked the Makati City Regional Trial Court (RTC) Branch 150 to partially lift his travel ban due to his rebellion case to attend to various meetings and activities abroad.
In the motion for leave of court to travel abroad, Mr. Trillanes said he will travel to Spain, the Netherlands, and the United Kingdom from Dec. 11, 2018 to Jan. 12, 2019 “to perform his official duties” in various capacities abroad including a lecture at the Universiteit van Amsterdam on “Democracy and the Rule of Law in the Philippines.”
Mr. Trillanes will also travel to the United States on Jan. 27 to Feb. 10, 2019 to meet with various groups and organizations in California, Washington D.C. and Maryland.
“As shown by his past actions, particularly by the fact that he voluntarily surrendered and posted bail in the instant case immediately upon the issuance of the warrant of arrest in the case, as well as by the fact that he has always returned to the country as committed in the instances he was permitted by the Courts to travel abroad despite of the filing and dependency of the cases against him, herein former Accused is not at flight risk,” he stated.
Also included in Mr. Trillanes’s motion is the official permission to travel granted by Senate President Vicente C. Sotto III.
The prosecution was given until Nov. 28 to comment on the senator’s motion before its resolution by the court on Dec. 3.
On Sept. 25, Judge Elmo M. Alameda of Makati RTC Branch 150 granted the prosecution’s motion to issue a warrant of arrest and hold-departure order against Mr. Trillanes in connection with his rebellion case. The senator posted P200,000 bail that same day.
The prosecution has moved to issue an arrest warrant against Mr. Trillanes following President Rodrigo R. Duterte’s Proclamation No. 572 which voided his amnesty over his coup d’etat and rebellion cases in connection with the 2003 Oakwood Mutiny and 2007 Manila Peninsula Siege. According to the proclamation, Mr. Trillanes did not avail himself of amnesty, which was granted by then president Benigno S.C. Aquino III in 2010. The cases against Mr. Trillanes were subsequently dismissed the next year. — VMMV

Peso climbs to six-month high

THE PESO strengthened to a six-month high on Wednesday even as the greenback strengthened in the morning session due to a risk-off mode among investors.
The local unit ended the session yesterday at P52.35 versus the greenback, four centavos stronger than its P52.39 finish the previous day.
This was the peso’s best showing in nearly six months or since it ended at P52.195 per dollar last May 22.
The peso continued to trade within a wide range, opening the session weaker at P52.49 versus the dollar. It logged an intraday high at P52.35, which was also yesterday’s closing rate, while the session’s trough stood at P52.61 against the greenback.
Dollars traded declined slightly to $727.65 million from the $763.81 million that switched hands the previous day.
Foreign exchange traders interviewed yesterday said the peso strengthened as it tracked the dollar’s movement.
“The peso still continued the trend of recovery against the dollar,” a trader said in a phone interview yesterday.
“Initially, we saw bids coming up as I think the dollar moved higher against major currencies, but eventually in the afternoon session we saw the dollar being pulled down again.”
Reuters reported that the dollar traded firm against major currencies yesterday as investors flocked to safe haven currencies due to escalating concerns on global growth and the trade war between China and the United States.
“Initially, the dollar traded higher due to risk-off tone overnight, but as the market put the dollar on track of the weaker dollar, it continued to trade lower so it’s more on the dovish comments from the Fed (US Federal Reserve),” another trader said.
Last week, Federal Reserve Vice Chairman Richard Clarida acknowledged signs of slowing global growth, which may affect the US economy. He added that the US central bank is “close to being neutral” and that future policy tightening may be fewer in number.
“The peso showed continued strength due to wavering dollar demand as investors look for policy cues amid prevailing uncertainty from the Fed,” a third trader said.
For today, the first trader said the peso may trade between P52.30 and P52.50 versus the dollar, while the other traders gave a P52.25-P52.45 forecast range. — K.A.N. Vidal with Reuters

Stocks snap rally on negative market sentiment

By Arra B. Francia, Reporter
THE MAIN INDEX snapped its five-day winning streak on Wednesday, weighed down by the negative sentiment in Wall Street overnight due to lingering concerns on the United States’ trade war with China.
The bellwether Philippine Stock Exchange index (PSEi) slumped 0.51% or 37.49 points to 7,265.45 by closing bell yesterday. The broader all-shares index likewise dropped 0.6% or 26.70 points to 4,371.64.
“Seems like index wasn’t able to gather enough strength today to counter the negative sentiment from US markets dropping once again last night (recall how the index was able to power through yesterday to recover from its lows and even close in the green),” P2P Trade Online Sales Associate Gabriel Jose F. Perez said in an e-mail on Wednesday.
Regina Capital Development Corp. Managing Director Luis A. Limlingan noted that there have been lingering concerns over the previous sessions.
“One has been the sustainability of the high growth rate and corporate earnings of the world’s largest economy. Next is the impending tariffs that will hurt both US and China. Next is the impact of the rate hike. Finally is the stumbling price of oil, as the US has now become self sufficient,” Mr. Limlingan said in a mobile phone message.
US officials on Tuesday accused China of not changing its “unfair, unreasonable, and market-distorting practices.” The statement is seen to put further tension on US President Donald J. Trump and Chinese President Xi Jinping’s meeting at the G20 Summit in Argentina at the end of the month.
With this, the Dow Jones Industrial Average plunged 2.21% or 551.80 points to 24,465.64. The S&P 500 index shed 1.82% or 48.84 points to 2,641.89, while the Nasdaq Composite index retreated 1.7% or 119.65 points to 6,908.82.
Locally, only the industrials counter managed to eke out gains, adding 0.27% or 28.72 points to 10,665.83. The rest dropped, led by mining and oil which plummeted 5.03% or 437.16 points to 8,242.48. PXP Energy Corp. and Semirara Mining and Power Corp. dragged down the sub-index after falling by 14.87% and 3.85%, respectively.
Holding firms slipped 0.98% or 71.32 points to 7,153.65; services went down 0.8% or 11.35 points to 1,391.49; property dipped 0.53% or 18.83 points to 3,493.10; while financials was lower by 0.35% or 6.01 points to 1,704.82.
Some 902.68 million issues valued at P7.06 billion switched hands, higher than the previous session’s P6.92 billion. Decliners were about double the advancers, 127 to 64, while 48 names were unchanged.
Foreign investors went back to selling their holdings, recording net foreign outflows of P70.26 million against Tuesday’s net purchases of P526.01 million.
P2P Trade’s Mr. Perez noted that the PSEi may see “some reprieve” in the next session, given that Dow futures were up by 100 points yesterday afternoon.

Defense chief says unveiling of missiles on Xi’s arrival ‘coincidental’

DEFENSE Secretary Delfin N. Lorenzana said yesterday’s unveiling of the country’s first missile system was not intentionally scheduled to coincide with the visit of Chinese President Xi Jinping.
“Coincidental lang ‘yan (Just coincidental),” Mr. Lorenza told reporters during the live test firing activity of the Philippine missiles at the waters off Lamao Point, Bataan on Wednesday, Nov. 21.
“Walang balak tungkol du’n (There’s no plan on that). In fact, this was scheduled with the President long time ago, pero laging napo-postpone (but it was repeatedly postponed),” he said, adding that they simply took advantage of the good weather condition.
The Chinese leader made his first state visit in the country on Nov. 20-21 amid warming relations pursued by President Rodrigo R. Duterte despite the dispute over claims on the West Philippine Sea.
Mr. Lorenzana said the unveiling of Spike Extended Range missiles, which were acquired from Israel, only aims to show the improvement of the Navy.
“[It only shows] that our navy is improving, we are now at par with what’s happening in the neighborhood… kung makikita natin sa mga kapitbahay natin, tayo na lang nahuhuli talaga (If we look at our neighboring countries, we are left behind),” said the Defense chief.
Philippine Navy Flag Officer-in-Command Robert A. Empedrad, for his part, said they cannot use the new missiles and other defense weapons at the disputed West Philippine Sea because the corresponding carrier vessels are not big enough.
“We need big ships to be able to patrol the West Philippine Sea. But internally, if there is a threat to our wellbeing as a nation, we can use these… (like) when a foreign ship comes in (illegally),” said Mr. Empedrad, speaking in mixed Filipino and English.
He added, “We have a doctrine when to fire the missile because it’s P10 million worth. We cannot target a small boat with a missile worth P10 million. That would be a waste.” — Vince Angelo C. Ferreras

Tropical depression Samuel moving out without trail of destruction

NO MAJOR destruction was reported as tropical depression Samuel, which made two landfalls in the Visayas on Nov. 20 and 21, started to move out of the Philippine area. Weather bureau PAGASA, in its 5 p.m., Nov. 21 bulletin, said Samuel, moving with maximum winds of up to 45 kilometers per hour (km/h) near the center and gustiness of up to 60 km/h, was expected to be out by Thursday evening or early Friday. Typhoon warning signal #1 remained up yesterday in the following areas: Romblon; southern Occidental Mindoro; southern Oriental Mindoro; Palawan, including Calamian and Cuyo groups of islands; Guimaras, Iloilo, Capiz, Aklan, and Antique.

Regulated whale shark-watching policy put on hold

THE implementation of the new rules and regulations for whale shark-watching in Oslob, Cebu has been put on hold after local tourism workers and operators complained that the policy favors city-based tour guides. Cebu Vice Governor Agnes A. Magpale told reporters on Tuesday that she found the complaints “valid” and so she ordered that a “status quo” be maintained until further discussions are undertaken. In early Oct., following a consultative meeting, Oslob town stakeholders agreed to reduce the number of daily tourists who can go whale shark-watching to 800 from 1,000 as part of efforts to balance environmental protection with economic gains. Last week, however, Oslob Mayor Jose C. Tumulak, Jr. informed Cebu Governor Hilario P. Davide III that the new scheme has proven disadvantageous to local operators. — The Freeman

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