Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 11401

Ex-NFL players back new football league

LOS ANGELES — The Alliance for American Football on Tuesday announced plans for a new gridiron league, aiming to steal a march on the returning XFL in the bid to woo NFL fans.

Former NFL general manager and Pro Football Hall of Famer Bill Polian is a founder of the eight-team league along with television and film producer Charlie Ebersol.

Former NFL players Jared Allen, Troy Polamalu, Hines Ward and Justin Tuck are also involved.

The league plans to launch on Feb. 9, 2019, six days after Super Bowl 53 is played in Atlanta.

That’s a year before world wrestling tycoon Vince McMahon is planning to relaunch the XFL, a competition that lasted for one season in 2001 and which billionaire McMahon said in January he would reopen in 2020.

The Alliance already has broadcast plans lined up.

Its opening game as well as the championship game on the weekend of April 26-28, 2019 are to be televised on the CBS network.

Other games will be telecast on the CBS Sports Network.

Over the next 12 weeks, cities and coaches will be announced.

“I was fortunate to live my dream of playing professional football for 12 years and I am eager to use my experience to help shape The Alliance in a way that will create the best possible environment for players,” said Allen, who had 136 sacks while playing in 187 NFL games with Kansas City, Minnesota, Chicago and Carolina.

“As a former player, The Alliance’s emphasis on player well-being on and off the field is something I’m proud to be a part of.”

Allen said the Alliance will “provide unique opportunities to players who are still pursuing their dream, looking for a second chance to showcase their talents or aiming to extend their careers.”

Allen, along with Polamalu and Ward, will be player relations executives, while Tuck will serve on a board of advisors.

The plan is for each team to have 50 players. Games will have no kickoffs or extra points. After touchdowns, a two-point conversion try will be required. — AFP

2018 Berlin Candidates

FIDE Candidates Tournament
2018 Berlin, Germany
March 10-28, 2018

Standings (9 of 14)

1. Fabiano Caruana USA 2784, 6.0/9

2. Shakhriyar Mamedyarov AZE 2809, 5.5/9

3. Alexander Grischuk RUS 2767, 5.0/9

4-5. Ding Liren CHN 2769, Sergey Karjakin RUS 2763, 4.5/9

6-8. Levon Aronian ARM 2794, Wesley So USA 2799, Vladimir Kramnik RUS 2800, 3.5/9

Average Rating: 2786 Category 22

Time Control: 100 minutes for the first 40 moves, then 50 minutes for the next 20 moves followed by 15 minutes play-to-finish with 30 seconds added to your clock after every move starting move 1.

Fabiano Caruana is now in the solo lead with 5 rounds to go in the Berlin Candidates’ tournament. There is a rest day after every threerounds and Caruana has won games 1 (Wesley So), 4 (Kramnik) and 7 (Aronian), all of his games coming from a break. He was a bit lucky to defeat Kramnik but on the whole his quality of play is of a high standard and his openings solid plus aggressive. The odds are on Fabi to finally win the Candidates. We shouldn’t be too confident though — two years ago in the Moscow Candidates the Italian-American GM was also in the lead three rounds before the end. If you will recall Karjakin won in round 11 to tie for the lead, and then defeated Caruana in the decisive last round to win the tournament.

Mamedyarov is just half a point behind. Apart from beating Karjakin in round 1 and Kramnik in round 6 “Shakh” has taken several short draws and it looks like he is biding his time for a final sprint at the finish line.

Last Tuesday I promised to show you today the Kramnik brilliancy over Levon Aronian in the 3rd round and that is exactly what I am going to do. If you will recall Vladimir Kramnik started out with 2.5/3 with wins against Alexander Grischuk and Levon Aronian and a well-fought draw with Sergey Karjakin; it looked like he was in very good shape to contend for first in this Candidates’ tournament. Remember, whoever wins this tournament will be challenging for the world title this November against Magnus Carlsen for really big bucks.

The next three rounds was a bit of a disaster for him — 0.5/3 with losses against Caruana and Mamedyarov plus a draw with Wesley So. This was very irksome as he was winning against Caruana and had a hallucination vs Mamedyarov in a drawn game.

But let us concentrate on his game with Aronian. This early it is already a contender for Game-of-the-Year. There is a bit of déjà vu here too — in a press conference before the tournament started Kramnik had remarked that one of his contributions to opening theory, his advocacy of the Berlin Defense, might have motivated the Berlin organizers to invite him to this tournament as the wild card entry. Many of his opponents nowadays do not allow him to play the Berlin as even Garry Kasparov during their 2000 World Championship Match could not crack this so-called “Berlin Wall.” Well, in the following game he got his chance to play the Berlin!

The pianist Francesco Tristano was the special guest of the organizers for round 3 and he was invited to make the ceremonial first move. The Baroque Pianist approached the table of Aronian and Kramnik and played 1.e4. Now, Aronian plays 1.d4 or 1.c4 80% of the time and the expectation was that Levon would take that move back and play 1.d4, but he let it stand! Kramnik was delighted to see 1.e4 and looked at Aronian to ensure the correctness of the move. After receiving a slight nod to indicate the affirmative the game began.

Aronian, Levon (2794) — Kramnik, Vladimir (2800) [C65]
FIDE Candidates 2018 Berlin GER (3.4), 12.03.2018

1.e4 e5 2.Nf3 Nc6 3.Bb5 Nf6 4.d3

Back in 2012 Aronian and Kramnik played a 6-game match dubbed “Zurich Chess Challenge.” It ultimately ended in a tie, 1 win each for the two players and 4 draws.

In all of which three white games of the match Aronian played 1.e4 and we had a Berlin Defense on the board in short order. After failing to make any impression at all with 1.e4 e5 2.Nf3 Nc6 3.Bb5 Nf6 4.0–0 Nxe4 5.d4 Nd6 6.Bxc6 dxc6 7.dxe5 Nf5 8.Qxd8+ Kxd8, in the crucial 6th and final game Aronian changed his approach, avoided simplification and played 4.d3.

4…Bc5 5.Bxc6

The 6th and final game we were talking about continued 5.Nbd2 d6 6.c3 0–0 7.0–0 Ne7 8.h3 Ng6 9.Re1 c6 10.Ba4 Re8 11.d4 Bb6 12.Bc2 h6 13.a4!? Be6 14.Nf1 exd4!? 15.Nxd4 Bd7 16.f4 White had a good game although it ultimately ended in a draw. Aronian,L (2820)-Kramnik,V (2801) Zuerich 2012 (game 6) 1/2 43.

5…dxc6 6.0–0

[6.Nxe5?? Qd4]

6…Qe7

The two main moves here are 6…Nd7 and the text. Kramnik prefers to put his queen on e7 — He wants to leave the diagonal of his white-squared bishop open so he can play …Bg4.

7.h3

Seeing that his opponent intends to play …Bg4 Aronian immediately removes that possibility. Kramnik: “The thing is, Black wants … Bg4 after Nbd2. I always considered 7.h3 as a very serious move and I actually spent a lot of time analyzing it, and it was not so easy. But then, a couple of years ago, I found this very strong resource.” <D>

POSITION AFTER 7.H3

7…Rg8!

Kramnik: “I think it’s just a killer. Black is just better after Rg8 and I was waiting for my moment to use it and of course it came at a most unexpected moment. In Candidates, against Levon, who doesn’t play e4. Rg8 is a very strong move here.”

8.Kh1 Nh5

This is the only thing Kramnik remembers from all his previous analysis work. From now on he is playing on his own.

9.c3?!

Good idea, trying to open the center with black’s king still uncastled, but with the benefit of hindsight this seems too slow. Better is 9.Nc3 (this was Aronian’s suggestion immediately after the game) 9…g5 10.Nxe5 g4 11.d4 Bd6 White is still alive and fighting.

9…g5 10.Nxe5 g4

[Not 10…Qxe5? 11.d4 Qe7 12.Qxh5 it is White who is better]

11.d4

No choice. If 11.Nxg4 he is mated by 11…Bxg4 12.hxg4 Qh4+ 13.Kg1 Ng3 and 14…Qh1 mate.

11…Bd6 12.g3

Still not possible is 12.Nxg4 Bxg4 13.hxg4 Qh4+ 14.Kg1 Qh2#

12…Bxe5 13.dxe5 Qxe5 14.Qd4 Qe7 15.h4 c5 16.Qc4

Aronian: “A terrible blunder; I forgot that Black is threatening …f5.” According to Kramnik White should play 16.Qd3 where Black is still much better but White still has a chance to resist.

16…Be6 17.Qb5+ c6 18.Qa4?

White’s best is still 18.Qd3 although 18…Rd8 19.Qe3 Bc4 20.Rg1 puts him under great pressure.

18…f5!

The reason why White should have preferred Qd3.

19.Bg5

Played after long thought. The point is that 19.exf5 Nxg3+! 20.fxg3 (20.Kg2 Nxf5) 20…Bd5+ 21.Kg1 Qe2 22.Rf2 Qe1+ 23.Rf1 Qxg3#.

19…Rxg5! 20.hxg5 f4! 21.Qd1

There is no salvation:

21.gxf4 Nxf4 22.Qc2 Qxg5;

21.Kg2 Qxg5 White’s king cannot survive

21…Rd8 22.Qc1

[22.Qe2 Qxg5 23.Nd2 fxg3 24.Kg1 (24.f4 Nxf4) 24…Rxd2 is obviously no good]

22…fxg3 23.Na3 Rd3 24.Rd1 Bd5!

Blow follows blow.

25.f3

Mate cannot be prevented:

25.Rxd3 Qxe4+;

25.exd5 Qe4+ 26.Kg1 gxf2+ 27.Kxf2 Rh3 28.Re1 g3+ 29.Kg1 Rh1#.

25…gxf3 26.exd5

[26.Rxd3 Qxe4 27.Re3 f2+ 28.Rxe4+ Bxe4# would have been a beautiful way to end this game.]

26…Qe2 27.Re1 g2+ 0–1

After 27…g2+ Aronian resigns rather than be mated on the board:

28.Kh2 g1Q+ 29.Kxg1 f2+ 30.Kh1 (30.Kg2 fxe1Q#) 30…Rh3+ 31.Kg2 f1Q#

28.Kg1 f2+ 29.Kh2 g1Q+ 30.Rxg1 f1B+ (just for fun) 31.Kh1 Rh3#

 

Bobby Ang is a founding member of the National Chess Federation of the Philippines and its first Executive Director. A Certified Public Accountant, 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

Jazz blitz

The last time the Jazz met the Hawks in late January, they wound up with a loss that had them at 19 and 28, seemingly out of the running for a playoff spot in the highly competitive West. It was their seventh setback in 10 matches for the month, and they looked on their way to proving pundits’ preseason prognoses right. Following the departure of erstwhile top scorer Gordon Hayward, conventional wisdom had them bound for the lottery; they had grit in abundance, but appeared to lack the talent to compete for the long haul.

Yesterday, the Jazz found themselves bowing to the Hawks anew; it was a contest that could have gone either way, and casual observers may well have concluded that the setback against the holders of worst record in the East reflected their sorry plight. They knew better, however; even as the missed opportunity provided cause for disappointment, they still had ample reason to holds their heads high. After all, it was their first stumble in March; they had won all nine of their previous matches.

Indeed, the Jazz have blitzed the league over the last eight weeks; including yesterday’s set-to, they’ve gone an outstanding 21 and three, resurrecting their postseason hopes with their unique blend of resolve and skill. They acknowledge they’re not heavy on star power, but they likewise understand that perceived handicaps can be overcome by unshakable confidence in the strength of the collective. And, certainly, it helps that they’re steered by a top-notch brain trust.

Under head coach Quinn Snyder’s direction, the Jazz have become a force. As expected, their defense has held up with All-World stopper Rudy Gobert in the middle. The surprise has been in their offense, which has flowed surprisingly well via an egalitarian system headed by the unlikely backcourt pairing of Donovan Mitchell and Ricky Rubio. The trade-deadline acquisition of Jae Crowder vice Rodney Hood has yielded positive results, and they’re bent on improving their standing, four games out of third place in the conference with 11 to go.

At this point, the jury’s still out on whether the Jazz have enough tools to overcome the Rockets or the Warriors, their likely opponents in the first round of the playoffs. That their prospects are being discussed should be deemed progress in an of itself, though. And given where they were prior to the All-Star break, they know well enough to bet on themselves.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Facebook questioned as Cambridge Analytica CEO claims poll influence

LONDON/SAN FRANCISCO — The suspended chief executive officer (CEO) of Cambridge Analytica said in a secretly recorded video broadcast on Tuesday that his UK-based political consultancy’s online campaign played a decisive role in US President Donald Trump’s 2016 election victory.

CEO Alexander Nix’s comments, which could not be verified, are potentially a further problem for Facebook, Inc. as it faces lawmakers’ scrutiny in the US and Europe over Cambridge Analytica’s improper use of 50 million Facebook users’ personal data to target voters.

The social media network’s shares fell for a second day, closing down 2.5%, as investors worried that its dealings with Cambridge Analytica might damage its reputation, deter advertisers and invite restrictive regulation. The company has lost $60 billion of its stock market value over the last two days.

Cambridge Analytica’s board of directors suspended Mr. Nix on Tuesday, shortly before the second part of British broadcaster Channel 4’s exposé of the firm’s methods.

In the program, Mr. Nix describes questionable practices used to influence foreign elections and said his firm did all the research, analytics and targeting of voters for Mr. Trump’s digital and TV campaigns. He also boasts he met Mr. Trump when he was the Republican presidential candidate “many times.”

Mr. Nix’s comments “do not represent the values or operations of the firm and his suspension reflects the seriousness with which we view this violation,” Cambridge Analytica said in a statement on Tuesday.

Cambridge Analytica has denied all the media claims and said it deleted the data after learning the information did not adhere to data protection rules.

Brad Parscale, the 2016 Mr. Trump campaign’s main digital adviser who dealt regularly with Cambridge Analytica, did not immediately respond to a request for comment on Mr. Nix’s claims.

Jared Kushner, Mr. Trump’s son-in-law and now senior adviser, oversaw the Mr. Trump campaign’s digital operations.

One former Mr. Trump adviser said Mr. Kushner brought Cambridge Analytica into the 2016 campaign effort. Mr. Kushner’s lawyer did not immediately respond to a request for comment.

Cambridge Analytica whistleblower Christopher Wylie told the Washington Post on Tuesday that in 2014 conservative strategist Steve Bannon, who would go on to be Mr. Trump’s White House adviser, oversaw the firm’s early efforts to collect Facebook data to build detailed profiles on millions of American voters.

Mr. Bannon approved spending nearly $1 million to acquire data, including Facebook profiles, in 2014, Mr. Wylie told the Post. It is unclear whether Mr. Bannon knew how Cambridge Analytica was obtaining the Facebook data, the Post reported.

Mr. Bannon, who served on Cambridge Analytica’s board, did not immediately respond to a request for comment from Reuters.

US law bans foreigners from making contributions or spending money on behalf of a US election campaign but it was not illegal for the Mr. Trump campaign to retain Cambridge Analytica’s services, according to Bradley Smith, a former Republican member of the US Federal Election Commission.

“The fact that they are a British company doesn’t add anything to the analysis unless they were giving their services away for free or charging below-market rates,” said Mr. Smith, now a professor at the Capital University Law School in Columbus, Ohio.

US and European lawmakers have demanded an explanation of how Cambridge Analytica gained access to user data in 2014 and why Facebook failed to inform its users, raising broader industry questions about consumer privacy.

Facebook said it had been told by the Federal Trade Commission (FTC), the leading US consumer regulator, that it would receive a letter this week with questions about the data acquired by Cambridge Analytica. It said it had no indication of a formal investigation.

“The entire company is outraged we were deceived,” Facebook said in a statement on Tuesday. “We are committed to vigorously enforcing our policies to protect people’s information and will take whatever steps are required to see that this happens.”

The FTC is reviewing whether Facebook violated a 2011 consent decree it reached with the authority over its privacy practices, a person briefed on the matter told Reuters.

Facebook was also hit on Tuesday in a San Francisco court by the first of what could be many lawsuits by shareholders claiming to suffer losses because the firm misled them about its ability to protect user data. The company could also soon face lawsuits on behalf of users whose personal information was exposed.

Created in 2013, Cambridge Analytica markets itself as a source of consumer research, targeted advertising and other data-related services to both political and corporate clients. According to The New York Times, it was launched with $15 million in backing from billionaire Republican donor Robert Mercer and a name chosen by Mr. Bannon.

Facebook says the data were harvested by a British academic, Aleksandr Kogan, who created an app on the platform that was downloaded by 270,000 people, providing access not only to their own personal data but also data from their friends.

Facebook said Mr. Kogan then violated its policies by passing the data to Cambridge Analytica.

Facebook has since suspended both the consulting firm and SCL (Strategic Communication Laboratories), a government and military contractor. — Reuters

Myanmar president and Suu Kyi ally quits

YANGON — Myanmar’s President Htin Kyaw resigned suddenly on Wednesday leaving the country’s de facto leader Aung San Suu Kyi without a close confidant and political ally as she faces rising international opprobrium over the Rakhine crisis.

The president, an old school friend of Ms. Suu Kyi, served as her proxy in an office she was barred from occupying under Myanmar’s military-drafted constitution.

His role was largely ceremonial with Ms. Suu Kyi calling the shots within her civilian administration, under the self-appointed title of State Counsellor.

But he was nonetheless the country’s head of state and a key domestic ally for Ms. Suu Kyi within her party.

Myanmar’s Vice-President Myint Swe, a retired general close to the former junta leader Than Shwe, will temporarily move into the role until a new president is in place, according to the constitution.

Observers say this will likely make some inside Ms. Suu Kyi’s ruling National League for Democracy party queasy as, in theory, decisions could be pushed through — or held back — in this time.

Speculation had swirled for months about the health of Htin Kyaw, 72, who had recently lost weight and has had heart problems in the past.

“Myanmar President U Htin Kyaw resigned on March 21, 2018,” a statement on the president’s official Facebook page said.

His office did not give many details for why he resigned Wednesday, only saying that “he wanted to take a rest from his current duty.”

It added that a new leader will be selected “within seven working days.”

Shortly after the announcement, Speaker of the Lower House and Ms. Suu Kyi ally Win Myint resigned from his position, narrowing his odds of taking up Myanmar’s top civilian office.

“Anyone she selects as president will be someone she has complete trust in,” said independent analyst Richard Horsey.

“That trust is the basis of her being the seat of power in Myanmar. She has no power under the constitution. Any power comes from that relationship with the president.”

Htin Kyaw, the country’s first civilian president since 1962, was widely respected and seen as unerringly devoted to Ms. Suu Kyi, who said she would rule “above” him after he was elected in 2016.

He has stood firmly by her side even as her reputation has been shredded internationally for not speaking up on behalf of the persecuted Rohingya Muslim community. A violent military crackdown has forced some 700,000 Rohingya to flee over the border into squalid camps in Bangladesh, in what the UN has branded “ethnic cleansing” with possible “hallmarks of genocide.” — AFP

Ex-DPWH chief, 33 officials face plunder charges over ‘road right of way’ scam

The National Bureau of Investigation has filed criminal charges against former Department of Public Works and Highways (DPWH) Secretary Rogelio L. Singson and 33 others allegedly involved in the Road Right of Way (RROW) scam in General Santos City, NBI Regional Operations Services Deputy Director Antonio M. Pagatpat said in a press conference.

Mr. Pagatpat said the case was submitted to the Office of the Ombudsman early morning  of Wednesday, March 21, and charged Mr. Singson, several employees of the DPWH, auditors of the Commission on Audit, and private individuals with plunder and violation of Republic Act 3019, or the Anti-Graft and Corrupt Practices law.

In addition, the government employees will also be charged with grave misconduct. — Dane Angelo M. Enerio

G20 fails to defuse trade war threat

BUENOS AIRES — The world’s financial leaders rejected protectionism on Tuesday and urged “further dialogue” on trade, but failed to defuse the threat of a trade war days before US metals tariffs take effect and Washington is to announce measures against China.

Finance ministers and central bankers of the world’s 20 biggest economies, which represent 75% of world trade and 85% of global gross domestic product, discussed trade disruptions as a risk to growth at a two-day meeting.

But after talks described by participants as “polite” and mainly consisting of readout statements with no debate, the G20 agreed only to stand by an ambiguous declaration on trade from 2017 and “recognize” the need for more “dialogue and actions.” “We reaffirm the conclusions of our leaders on trade at the Hamburg Summit and recognize the need for further dialogue and actions. We are working to strengthen contribution of trade to our economies,” the final G20 ministers’ statement said.

But the declaration did little to dispel concern over a global trade war as US tariffs of 25% on imported steel and 10% on aluminum take effect on Friday.

Two officials briefed on the matter said US President Donald Trump would also unveil tariffs on up to $60 billion in Chinese technology and telecoms products by Friday, a move stemming from Beijing’s intellectual property practices.

The 2017 Hamburg declaration, which the financial leaders referred to on Tuesday, said G20 countries would “continue to fight protectionism including all unfair trade practices.”

But it also said G20 leaders “recognize the role of legitimate trade defense instruments,” an ambiguity which provides the United States with a way to argue its cause on the tariffs. US Treasury Secretary Steven Mnuchin made clear in a press conference after the talks that Washington’s tariff action was such a legitimate defense. — Reuters

A ‘millennials party’ dares to break Indonesia’s political mold

JAKARTA — In the Jakarta headquarters of the Indonesian Solidarity Party (PSI), workers call each other “bro” and “sis,” and their leader sets the sartorial standard with a pair of ripped jeans.

Dubbed the “millennials party,” the PSI is an upstart on the political stage of this Southeast Asian nation that hopes to tap into young voters’ contempt for the entrenched corruption and divisive identity politics of the ruling elite.

The downfall of long-serving autocrat Suharto in 1998 — amid a crisis widely blamed on a culture of nepotism and graft — brought an end to a regime of repression.

But two decades later, the 190 million voters of the world’s third-largest democracy are still asked to choose from a crowd of candidates who began their political careers during that period.

The 2019 presidential election looks set to be a repeat of 2014, when current leader Joko Widodo narrowly defeated Prabowo Subianto, an ex-armed forces general who was formerly married to a daughter of Suharto.

The PSI is one of four new parties the General Election Commission is allowing to contest next year’s legislative and presidential elections.

Two of the new parties are fronted by establishment figures. The United Indonesia Party (Perindo) is headed by US President Donald Trump’s business partner in Indonesia, Hary Tanoeseodibjo, while the Berkaya Party is led by Suharto’s youngest son, Tommy, who advocates a return to the “New Order” values of his late father.

PSI leader Grace Natalie, a former television journalist, believes the time has come for a new generation of politicians who would be genuinely accountable to the people.

Her party interviews members seeking nomination for a seat in parliament, and live-streams the discussions on social media platforms. Teachers, corporate lawyers, doctors and bankers are among those whose interviews have aired on Facebook and YouTube.

“No other party is offering what we are in terms of transparency,” she told Reuters at PSI’s headquarters — referred to by party staff as “base camp” — where a wall poster urges “Make Art, Not War.”

CRITICAL DEMOGRAPHIC
Ms. Natalie, a 35-year-old mother of two toddlers, set up PSI in 2014, determined to offer an alternative for young voters.

It’s a critical demographic with people between the ages of 17 and 25 accounting for about 30% of the electorate. Two-thirds of the party’s roughly 400,000 members are under 35.

PSI relies on crowdfunding and donations to run operations across the vast archipelago of Indonesia, and to keep costs down it works from members’ houses and uses donated vehicles.

“This way, no one person can claim that they own the party. Everyone is contributing something,” said Ms. Natalie, who was educated in Jakarta and the Netherlands and speaks proficient English.

So far, PSI has raised 2.6 billion rupiah ($180,000), a tiny sum compared to the coffers of mainstream parties that benefit from poor enforcement of laws limiting political donations.

It will also struggle to get traction with the youth it is targeting.

While the size of the youth vote bank has swelled from 18% of total voters in 2004 to 30% in 2014, the participation of young voters has actually dwindled.

Data from the elections commission showed less than half of voters between 17 and 29 years old cast a ballot in 2014 legislative elections compared with around 90% among those over 30.

Ella Prihatini, a researcher at the University of Western Australia, in a survey of 253 young voters, found many of them were uninterested in politics.

“On parliament, the dominant answer from respondents was that their MPs are not actually representing them, so why bother voting?” Ms. Prihatini said.

POLITICAL ISLAM
Winning support is also likely to be particularly challenging for Ms. Natalie, an ethnic-Chinese Indonesian, in a climate of religious and ethnic tensions.

Indonesia is a secular country but concerns are growing about the Islamization of politics in the world’s largest Muslim-majority country.

Jakarta’s former governor, an ethnic-Chinese Christian, was ousted last year after hardline Muslim groups organized massive protests over allegations he insulted Islam.

He was later jailed for blasphemy.

The 14 parties contesting next year’s polls include the Indonesian Democratic Party of Struggle (PDI-P), which leads the ruling coalition, several other secular parties as well as rising Islamic-oriented parties.

Ms. Natalie, who plans to run for parliament next year, conceded she and PSI need a far bigger budget to win support in rural areas, home to nearly half of Indonesia’s population. Her party will back Widodo — a popular moderate reformer — for re-election as president rather than try to field a candidate of its own.

Ibrahim Irsyad Hasibuan, a 20-year-old journalism student from Tangerang outside Jakarta, said young voters are apathetic because they have no faith in the political system, and so PSI could be a wake-up call for his generation.

“But I can’t relate to PSI,” he said. “It is a new political party and has no track record yet.”

Achmad Sukarsono, a Singapore-based political analyst for Control Risks, was dismissive of the new party, arguing that an anti-corruption stance alone will not be enough to win over voters more interested in local and bread-and-butter issues.

“It is a nice utopian effort that shows desire for change from the educated, Westernized elite,” he said. — Reuters

Anti-trust body approves Robinsons Land-Shang Properties joint venture to develop Taguig condo

The Philippine Competition Commission (PCC) has approved the joint venture between listed firms Robinsons Land Corporation (RLC) and Shang Properties, Inc. (SPI) to develop a luxury residential condominium in Bonifacio Global City.

In a Wednesday statement, the antitrust body said the transaction does not result in “substantial” narrowing of competition.

“There are enough existing competitive constraints on the parties after the transaction,” the statement read, quoting decision of the PCC’s Mergers and Acquisitions Office (MAO) signed March 20.

“There is no increased ability nor incentive to engage in input foreclosure or customer foreclosure post-transaction,” it added.

Through the joint venture, Robinsons Land and Shang Properties is set to develop the 9,118-square meter property of the former. It is located at McKinley Parkway corner 5th Avenue, Bonifacio Global City, Taguig.

Robinsons Land is the real estate investment arm of JG Summit Holdings, Inc.

Meanwhile, SPI is a publicly listed real estate property development company. Through its subsidiaries, SPI is engaged in hotels, lease of commercial and office spaces, development and sale of luxury residential condominiums, and property management.

The two firms will subscribe to shares of stock of the joint venture, which will result in each party owning 50% of the outstanding stock. — Janina C. Lim

Chelsea Logistics plans to convert common shares into preferred shares to raise funds

Chelsea Logistics Holdings Corp. (CLC) plans to convert some of its common shares into preferred shares in order to support its capital spending for 2018.

In a disclosure to the stock exchange on Wednesday, March 21, the firm said the funds raised from the conversion of equity will fund acquisition of vessels, for strategic mergers and acquisitions, and the expansion of its shipping, transportation, and logistics projects.

“Aligned with its shipping business, there are a number of business opportunities being presented to the Company for the operation of airports and ports, and also facilities which can be utilized in connection with its logistics business. The creation of Preferred Shares will generate additional funds for the Corporation to utilize for these business opportunities,” the company said. — Arra B. Francia

Enterprise IT solutions boost PLDT revenues to record level

PLDT Inc. posted a record P34.1 billion of revenues in 2017 from its enterprise business, up 11% from the previous year.

In a statement, PLDT said that its information and communications technology (ICT) service revenues increased by 26%, lifted by the 59% increase in Managed IT services and the 49% growth in cloud services, while data center services such as co-location, peering, and managed server hosting services also posted a double-digit 10% year-on-year growth.

Managed IT services include Business Process Outsourcing (BPO), Managed Service Desk, Managed Infrastructure, ERP Implementation, and Application Lifecycle Support while Cloud service include infrastructure-as-a-service (IaaS), Software-as-a-Service (SaaS), Contact Center-as-a-Service, and Cloud Professional Services.

PLDT Enterprise has said that it eyes more business ventures and investments in information and communication technologies and infrastructure expansion this year.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Patrizia Paola C. Marcelo

Filinvest Land grows earnings by 9% in 2017

Filinvest Land, Inc. (FLI) grew its earnings by 9% in 2017, fueled by the expansion of its rental properties alongside demand from both retail and office spaces.

In a statement issued Wednesday, March 21, FLI said it generated a net income of P5.83 billion last year, as revenues rose to P20.27 billion. The company did not mention the revenue growth from the year, but earlier reports show that revenues in 2016 stood at P19.5 billion.

“The company attributed the revenue increase to a major expansion of its rental property portfolio and the continued strong demand for its retail and office spaces,” FLI said.

The Gotianun-led firm booked P4.42 billion in rental revenues, up 30% year-on-year, after opening new office and retail buildings. 2017 saw the opening of Vector Three in Northgate Cyberzone Alabang, which added 36,000 square meters (sq.m.) of office space to FLI’s portfolio. — Arra B. Francia

1...11,40011,40111,402...12,774Page 11,401 of 12,774
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube