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Local holidays declared in 3 cities for festivals, anniversary celebration

MALACAÑANG HAS declared special non-working days in three cities for their respective local celebrations. These are:
Jan. 10 — Koronadal City, South Cotabato for its 79th founding anniversary and 19th Hinugyaw Festival;
Jan. 12 — Valencia City, Bukidnon for its founding anniversary; and
Jan. 15 — San Pablo City, Laguna for the 24th Coconut Festival and Street Dancing Competition (Mardi Gras).
The corresponding proclamations were signed by Executive Secretary Salvador C. Medialdea on
Jan. 7. — Arjay L. Balinbin

DoH, Comelec regional offices gear up for Bangsamoro vote

WITH AN expected 2.8 million voters for the coming Bangsamoro Organic Law (BOL) plebiscite, the Department of Health (DoH) and Commission on Elections (Comelec) offices in the Autonomous Region in Muslim Mindanao (ARMM) have laid out plans to ensure immediate response to critical situations. All health offices and hospitals in the ARMM have been ordered to be on code white alert status, according to DoH-ARMM Secretary Khadil M. Sinolinding, Jr. “This is an SOP (standard operating procedure) for us, especially in highly-sensitive activities that need the participation of the people. This status puts all our personnel in standby in case the need arises,” Mr. Sinolinding said in an interview with BusinessWorld. “We advise our voters to keep themselves well hydrated during lone lines, bring umbrella and fans to beat the heat, and go to our nearest health stations for health problems during the day,” he added. He also appealed to voters to be alert, saying, “Be very vigilant about any suspicious people and movements — notify our law enforcers.” Comelec-ARMM Chair Rey F. Sumalipao said of the total number of registered voters, about 1.9 million are expected on Jan. 21 covering ARMM and the cities of Isabela and Cotabato. The rest are voters from parts of Lanao del Norte and Cotabato provinces, who will cast their ballots on Feb. 6. Mr. Sumalipao said they are anticipating peace and order challenges during the referendum, and have response systems in place. “Everything is already in place, including the coordination with PNP (police) and AFP (military),” he said, “We are preparing for any eventualities, in case there is, we are ready to respond.” — Tajallih S. Basman

Nation at a Glance — (01/10/19)

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

Spirited showing against Korea could be a blueprint for Azkals

By Michael Angelo S. Murillo<brSenior Reporter
GO-GETTING and fearless in its AFC Asian Cup debut, the Philippine men’s national football team is well advised to following such disposition on the field, and building on it, for the rest of the tournament if it is to make things happen. This is according to one local football analyst.
Giving their opponents more than what they perhaps were expecting, the Philippine Azkals made Korea Republic sweat before bowing to a 1-0 defeat in their Group C opener in the prestigious continental football spectacle.
It was a debut performance by the Philippines which had many left impressed considering that the Azkals were deemed to be beaten big time by the Asian powerhouse Taeguk Warriors.
But the Azkals stood their ground against the two-time Asian Cup champion and 2015 runner-up Korea Republic, holding the latter in check until Hwang Ui-Jo broke through for his team in the 67th minute which turned out to be the winning goal.
“It was an impressive debut for the Azkals. The players showed no fear and defended well throughout the game despite South Korea’s goal. We even provided them some scares thanks to Javier Patino’s attempts,” said analyst Lorenzo del Carmen when asked by BusinessWorld for his thoughts on the Azkals’ performance against the Koreans.
Mr. Del Carmen, who covers and writes for local site Tiebreaker Times, went on to say that the Azkals should pick up from where they left on in the Korea game in their next matches against China and Kyrgyzstan.
“I think the coaching staff will adjust to each opposition accordingly but, regardless, the team needs to consistently defend well throughout its campaign just like it did last night [against Korea],” said the analyst, who is currently in the United Arab Emirates (UAE) to cover and watch the Azkals make history in the Asian Cup.
Adding, “I think we can pull off results against China and Kyrgyzstan but we just have to make sure we play with the same intensity against them just as we did in our first game.”
The Philippines next plays on Friday, Jan. 11, against China, and on Jan. 16 versus Kyrgyztan.
EARLY GOINGS
Meanwhile, as of this writing, all of the teams competing in this year’s edition of the quadrennial AFC Asian Cup have played save for Qatar and Lebanon in Group E and those in Group F which were to make their debut later yesterday.
In Group A, India is on top spot with one win and three points, followed by Bahrain and host UAE, with a point each, and Thailand.
Jordan tops Group B, followed by Syria, Palestine and defending champion Australia.
In Group C, China and Korea are tied for first place followed by Kyrgyzstan and the Philippines.
Iran and Iraq share Group D leadership ahead of Vietnam and Yemen.
Saudi Arabia has three points in Group E with a 4-0 rout of North Korea.
In the Asian Cup, tournament format calls for the top two teams in each of the six groupings at the end of group play advancing to the next round, to be joined by the four best third-place teams.

Romeo willing to adjust with San Miguel Beermen

By Michael Angelo S. Murillo<brSenior Reporter
JOINING an already “made” team, Philippine Basketball Association (PBA) star guard Terrence Romeo knows he has to do his share in fitting in with a team like the San Miguel Beermen. It is a process the explosive player said he recognizes and is willing to do.
Acquired by the Beermen from the TNT KaTropa in exchange for auxiliary players David Semerad and Brian Heruela and a 2021 first-round draft pick, the three-time league scoring leader said he is out to get a fresh start with the PBA Philippine Cup defending champions and rise over the bad rap thrown at him of late.
But the former Far Eastern University standout knows to fit in with the Beermen much of the adjustments falls on his shoulders.
“San Miguel is already a champion team. I have nothing to brag about with these players. On my part I’ll just do my best to help the team in any way I can,” said Mr. Romeo in the vernacular as he started practicing with his new team in the lead-up to the new PBA season which rolls off on Jan. 13.
“I’m willing to learn from them as much as I hope to share what I know with my new teammates,” he added.
Used to playing a lot of minutes while with the GlobalPort Batang Pier and TNT, Mr. Romeo shared he has no problems with a reduced log time on the court with San Miguel, especially if it is to be done to give themselves a better chance of winning.
“I have no problems getting limited minutes. All of us have the same goal, which is to win. As long as we are winning I don’t mind my minutes,” he said.
As to the fallout he had with the TNT organization that reportedly led to his exit from the team after a short stay, Mr. Romeo said he is putting everything in the past and is now moving on.
“I’m not mad at Boss MVP (Manny V. Pangilinan); he is a very good person. I have no ill feelings with TNT,” Mr. Romeo reiterated.
Prior to being traded, reports had it that Mr. Romeo had exhausted his welcome with the KaTropa, with some players said to have moved to have him scratched from the team.
Mr. Romeo was acquired by TNT from GlobalPort in a midseason trade last year.
Coming from where he is, Mr. Romeo said there is no other way to go about it but to move forward.
“All the bad memories from 2018 I’ll just leave behind. I’ll just enjoy my time with my new team and move on,” Mr. Romeo said.
With the addition of Mr. Romeo, San Miguel fortified its backcourt some more as he joins forces with old reliables Chris Ross, Alex Cabagnot and Marcio Lassiter and young veteran Von Pessumal as well as fellow add-on Paul Zamar and returning Ronald Tubid.

Qatar keen to prove worth at Asian Cup ahead of 2022

AL AIN, UNITED ARAB EMIRATES — Qatar will be out to prove they are worthy of a World Cup debut in 2022 when they open their Asian Cup campaign on Wednesday.
Qatar, ranked 93 in the world, play Lebanon, ranked 81, in their opening group match of the 24-team tournament in Al Ain in the United Arab Emirates (UAE).
Captain Hassan al-Haydos told reporters on Tuesday the team aims to reach at least the final-16 knockout stages, though head coach Feliz Sanchez warned that “all the groups are really strong.”
The Asian Cup is likely to be the last major test for Qatar before their first World Cup in 2022, for which they automatically qualify as the host nation — the first time since 1934 that the host has never previously played in the tournament.
“The World Cup is still four years (away). This (Asian Cup) is going to be a tournament for us to get more experience to try and to compete in a high level against high level teams,” Sanchez said.
Qatar, whose best-ever Asian Cup performance was in 2000 and 2011 when the team reached the quarterfinals, also face North Korea, ranked 109 in the world, and Saudi Arabia, ranked 69, in the group stage.
“I am sure this group of players are able to compete against all teams in Asia, and now it is the time to show we have the qualities and the commitment,” Sanchez said of his side.
Qatar’s participation in the tournament takes place amid strained political ties, and it is not even clear if its fans will be able to attend its games.
UAE cut ties with Qatar in June 2017, accusing it of supporting terrorism, which Doha denies.
The Local Organising Committee told Reuters fans need to check their entry requirements with UAE diplomatic missions. The UAE ministry of foreign affairs did not immediately respond to a Reuters request for comment on the ban.
Saudi Arabia, who Qatar face in their final group match also cut ties, as did Bahrain which is in a different group.
Sanchez, who won the Under-19 Asian Cup with Qatar in 2014, would not be drawn on how this might impact the team.
“Our focus is only on the games,” he said. — Reuters

Raptors, Leonard steal victory against Hawks

LOS ANGELES — Kawhi Leonard made a key steal to set up the go-ahead field goal in the final minute, and he finished with 31 points as the Toronto Raptors defeated the visiting Atlanta Hawks 104-101 on Tuesday night.
Leonard has scored at least 20 points in a career-best 17 straight games.
Kyle Lowry added 16 points for the Raptors while Pascal Siakam had 13 points and 10 rebounds, OG Anunoby had 14 points and Serge Ibaka 13.
John Collins had 21 points and 14 rebounds for the Hawks, and Jeremy Lin added 20 points. Trae Young had 19 points, Dewayne Dedmon 12 points and nine rebounds and DeAndre’ Bembry 11 points.
The Raptors entered the fourth quarter with a three-point lead, then increased it to five, but the Hawks went on a 7-0 run to lead 88-86 with 8:20 remaining.
Tyler Dorsey’s 3-pointer gave Atlanta a three-point lead, but Leonard’s one-foot jumper gave Toronto a 98-97 edge with 3:20 left. Dedmon scored the next four points to put Atlanta ahead by three with 2:15 to go.
Anunoby’s layup pulled Toronto within one, then Ibaka’s dunk after Leonard’s steal gave Toronto a one-point lead with 17 seconds remaining. Young missed a shot to put Atlanta ahead, and Anunoby’s hoop sealed the result.
LOWRY
Leonard and Lowry were playing together in a game for the first time since Dec. 9. Lowry had been out with an injury for 10 of 11 games before he played Sunday. Leonard has not played both ends of a back-to-back set this season.
Lin’s layup with 4:51 to play in the first quarter gave Atlanta its first lead at 16-15. Vince Carter’s 3-pointer bumped the lead to four.
The Hawks, ahead by as many as six points, led 31-28 after the first quarter. Young’s driving layup with 6:40 left in the first half put Atlanta ahead by nine.
The Raptors used a 9-0 run to lead by two with 2:40 remaining in the second quarter, but the Hawks had a 57-56 advantage at halftime.
The Hawks worked the lead to five before Lowry tied it with a 3-pointer with 6:20 to play in the third quarter.
Neither team scored in the final two minutes of the third quarter that ended with Toronto leading 80-77.
Danny Green was rested for the game by the Raptors, the second game he has missed this season. — Reuters

Iraq stuns Vietnam; Saudi routs N. Korea

AL AIN — Iraq’s Ali Adnan scored with a curling free kick in the final minute as the former champions were twice forced to come from behind to beat Vietnam 3-2 in the Asian Cup on Tuesday and Saudi Arabia eased to a 4-0 win over North Korea.
Italy-based winger Adnan placed his strike high and to the left of Vietnam goalkeeper Dang Van Lam to give 2007 winners Iraq a barely deserved victory in their opening Group D encounter in Abu Dhabi.
“It is very important to get three points in the group stage of this tournament,” said Iraq coach Srecko Katanec.
“It was tough at times, but I am sure we will develop as the competition goes on. If I am honest, we also need to be even better than we were in the second half which was obviously better than the first.
“I saw today who can and cannot play going forward, who is in a good condition and who is not.”
In a game strewn with defensive errors, Vietnam took the lead in the 24th minute when Ali Faez back-heeled the ball into his own goal after a mix-up with goalkeeper Jalal Hassan.
Mohanad Ali leveled for Iraq 11 minutes later when he dispossessed Que Ngoc Hai 25 meters from goal before driving into the penalty area and slotting past Van Lam.
Vietnam reclaimed the lead three minutes before the break when Nguyen Trong Hoang’s low shot was parried by Hassan and Nguyen Cong Phuong tapped in the rebound.
Iraq, however, were level again on the hour mark when Humam Tariq slid home from close range, making the most of Vietnam’s inability to clear the ball following Ali’s downward header.
The teams looked destined to share the points, only for Adnan to give Van Lam no chance with his curling effort into the top corner.
Saudi Arabia had few problems starting their Group E campaign with a win as Juan Antonio Pizzi’s side handed 10-man North Korea a 4-0 defeat in Dubai.
Hatan Bahbri put the three-times winners in front after 28 minutes when he cut inside from the left to hit a right-footed shot past Ri Myong-guk and Saudi Arabia doubled their lead nine minutes later when Mohammed Al Fatil flicked home Hussain Al Mogahwi’s free kick.
Han Kwang Song was sent off for a second booking a minute before the interval while Salem Al Dawsari put the result beyond doubt 20 minutes from fulltime and Fahad Al Muwallad added a fourth in the 87th minute. — Reuters

Sarasadat Khademalsharieh

In the year 2018 rapid and blitz chess have become more popular than ever before. Even in the Grand Chess Tour there were two legs out of the five total which feature exclusively the quicker time controls.
The Kramnik-Topalov world championship match in 2006, Anand vs Gelfand in 2012 and Carlsen-Karjakin 2016 and Carlsen-Caruana 2018 were all decided in the rapid tiebreaks, the latter match because all of the 12 standard games ended in draws, the first time it ever happened.
The just-concluded World Rapid and Blitz Championships in St. Petersburg saw a huge prize fund and thousands of spectators every day during the competition.
Daniil Dubov won the Rapid World Championship with 11/15 ahead of Shakhriyar Mamedyarov, Hikaru Nakamura, Vladislav Artemiev and Magnus Carlsen with 10.5/15. On tiebreaks Mamedyarov and Nakamura were awarded the silver and bronze, respectively. Magnus Carlsen won the blitz section with 17/21, a half point ahead of Poland’s Jan-Krzysztof Duda who chased him all the way and just fell short. As in the rapid portion Hikaru Nakamura took 3rd place.
Top earner was Magnus Carlsen. His rapid earnings ($36,250) added to his blitz win ($60,000) and the special $20,000 first prize for the best combined performance came out to $116,250 for the five-day tournament, approximately P6.1 million.
In the women’s section reigning Women’s World Champion Ju Wenjun won the Rapid Section with Iran’s Sarasadat Khademalsharieh and Aleksandra Goryachkina trailing one full point behind. Kateryna Lagno (Russia) won the women’s blitz ahead of Khademalsharief and China’s Lei Tingjie.
Top money-earned in the women’s side is IM Sarasadat Khademalsharieh who got $25,000 for tying for 2nd-3rd in the rapid and 30,000 for solo second in the blitz. These two, added to the $14,000 she received as the first combined in the women’s section totaled $69,000, approximately P3.6 million, not bad at all.
Never heard of Khademalsharieh? Well, that is precisely what this article is about.
She is also known as Sara Khadem or, the long version, Sara-sadat Khadem Al-Sharieh. Sara was born March 10, 1997 in Tehran, Iran. I first heard about her at the 2016 Tehran Grand Prix. Since the tournament was held in Tehran the organizers were entitled to nominate one player, and that was Sara. She was only 19 years old and the lowest rated player in the field but her play was a revelation and she came close to overall victory — in fact, Sara entered the final round as co-leader but a loss to Ukraine’s Natalia Zhukova knocked her down to shared second place with Zhao Xue (China). Nevertheless, the second place was quite a terrific accomplishment (Ju Wenjun won the event).
And then there is the famous “hijab controversy” during the 2017 Women’s World Championship held in Tehran. It all started when the American chess champion, Nazi Paikidze (an immigrant from Georgia), said she would boycott the games on grounds that female participants would need to wear the “hijab,” or head scarf, which is mandatory for women in Iran. She started an online petition to “stop women’s oppression” and to challenge the chess federation’s decision.
The media of course ate this up and there was even a movement to remove Tehran as host of the championships.
Sara Khadem was one of Iran’s women players who spoke up that the proposed boycott to “stop women’s oppression” is not what Iran’s players want. Participating in international games, and hosting them, she says, only works to give Iranian women opportunities, which many have had to fight bitterly for. “It’s had such a huge effect on me, to play around the world,” she said. “And it is a great encouragement to Iranian young women to have foreign players come here, their presence is so considerable.”
This whole thing seemed rather stupid to me. Aren’t guests supposed to show respect to the host by observing their cultural traditions? In the same way a woman should take off her shoes before entering a Hindu temple or remove her hat in a Christian church, what’s wrong with asking women to wear a hijab, which is just a light scarf? The male chauvinist pig in me also notes that many women actually look very good in hijabs. Any female visitor to Iran is asked to wear a hijab, so what’s the big deal? If Nazi doesn’t agree with it, then a personal boycott is ok. Why call for everybody else to boycott? Sheesh.
The good news is that the women’s world chess championship pushed through in Tehran and the Chinese GM Tan Zhongyi (a recent Philippine visitor who took part in the Asian Continental Chess Championship last December) won.
OK, now that we know a little bit more of Sarasadat let us look at her chess.

Khademalsharieh, Sarasadat (2470) — Arabidze, Meri (2387) [D25]
FIDE Wch Rapid w St. Petersburg (8.10), 27.12.2018

1.d4 d5 2.c4 dxc4 3.e3 Nf6 4.Nf3 Bg4 5.Bxc4 e6 6.Nc3 Nbd7 7.h3 Bh5 8.g4
IM Sara-sadat Khadem Al-Sharieh has a very sweet smile and pleasant countenance but don’t let that fool you — over the board she is a very active player geared to the attack. There are many ways to proceed for White in this position but she goes for the most aggressive setup: castle queenside and then a kingside pawn-storm. Before that though she has to get rid of Black’s light-squared bishop as after queenside castling an enemy bishop on g6 will be very inconvenient.
8…Bg6 9.Nh4 c6 10.Nxg6 hxg6 11.Bd2
The Russian-Israeli IM Ilya Tsesarsky played 11.Qf3! to facilitate queenside castling. Then after 11…Be7 12.Bd2 a6 13.Bb3 Nd5 14.e4 Nc7 (maybe she should have just taken the c3–knight) 15.0–0–0 Bg5 16.Qg3! Bxd2+ 17.Rxd2 Qb8!? 18.f4 White’s offensive is already looking very scary. I want you to see how this game ended: 18…Nb5 19.e5!? c5 (White was going to follow-up with Ne4, so Black gets in this move at once) 20.d5 exd5 21.Bxd5 Nb6 22.e6 Nxd5 23.Nxd5 fxe6 24.Re1 Nd4 25.Rxd4! cxd4 26.Rxe6+ Kf8 27.Qa3+ Kg8 28.Ne7+ Kf7 29.Qb3 Qe8 30.Re5+ Kf8 31.Qe6 1–0. Tsesarsky,I (2458)-Zifroni,D (2531) Ramat Aviv 2000.
11…Nb6 12.Bb3 a5 13.a3 Be7 14.Kf1 Kf8 15.Kg2 c5 16.Qf3 a4
“Winning” the d4 pawn won’t work: 16…cxd4 17.exd4 Qxd4? 18.Be3 is very awkward for Black. If you want we can carry the analysis for a few more moves: 18…Qd6 19.Rhd1 Nfd5 (19…Qc7 20.Rac1) 20.Nxd5 Nxd5 21.Rac1 with Bc5 coming up, Black is in a bind.
17.Ba2 Kg8 18.Rad1 cxd4 19.Bc1 d3 20.Qxb7 Rb8 21.Qa6 Qc7 22.Qxd3 Qc6+ 23.e4 Nfd7 24.Bf4 Rb7 25.Qb5 Qc8
Exchanging queens 25…Qxb5 26.Nxb5 leaves White in the driver’s seat with no counterplay in sight.
26.Qe2 Qc6 27.Rd2 Kh7 28.Rhd1 Bf6 29.Rd6 Qc5 <D>
POSITION AFTER 29…QC5
30.e5! Nxe5?
The alternative is 30…Be7 even though it still leads to a miserable game after 31.Ne4! Qc7 32.Ng5+ Bxg5 (32…Kg8? 33.Nxe6!) 33.Bxg5.
31.Ne4 Qa5 32.Bd2 Qa8 33.Bc3
Threatening Bxe5, Bxe5, Ng5+
33…Ned7 34.Qf3 Bxc3 35.Ng5+ Kh6
[35…Kg8 36.Qxf7#]
36.Nxf7+ Kh7 37.Nxh8 Be5 38.Rxd7 Rxd7 39.Qxa8 Rxd1 40.Qe4 1–0
It is a complete rout.

Khademalsharieh, Sarasadat (2470) — Galliamova, Alisa (2444) [D30]
FIDE Wch Blitz w St. Petersburg (13.5), 30.12.2018

1.d4 d5 2.c4 c6 3.Nf3 Nf6 4.e3 e6 5.b3
The problem with rapid and blitz tournaments is that there is hardly any time to study your opponents’ opening repertoire and prepare your plan of attack based on that. IM Sara has had this opening formation six times previously. she won five and drew one. In most games she put one bishop on d3, another bishop on b2, castled kingside, then Qe2 after which, depending on Black’s formation, White plays e3–e4 or Nf3–e5 and f2–f4 and then goes for a kingside attack. Simple but very effective.
5…Nbd7
Here is what might happen if Black just develops pieces without a general plan to counter White’s initiative. 5…Be7 6.Bd3 b6 7.0–0 Bb7 8.Bb2 Nbd7 9.Nc3 0–0 10.Qe2 c5 11.Rad1 cxd4 12.exd4 Rc8 13.Ne5 dxc4 14.bxc4 Qc7 15.Nb5 Qb8 16.d5 Nc5 (16…exd5 17.Nxd7) 17.d6 Bd8 18.Bb1 a6 19.d7 Ncxd7 20.Nxd7 Nxd7 21.Rxd7 axb5 22.Qh5 h6 23.Bxg7! 1–0 (23) Khademalsharieh,S (2423)-Sedaghati,M (2337) Teheran 2016 (23.Bxg7 Kxg7 24.Qg6+ Kh8 25.Qh7#)
6.Bd3 Bb4+ 7.Nbd2 Ne4 8.0–0 Nxd2 9.Bxd2 Bd6 10.e4 dxe4 11.Bxe4 h6
A pointless move. The Greek Gift Sacrifice 11…0–0 12.Bxh7+ Kxh7 13.Ng5+ Kg8 14.Qh5 does not work because Black has 14…Nf6. However, you see this move a lot in blitz games because you don’t want to waste time calculating Bxh7+
12.Bc3 0–0 13.Re1 Nf6 14.Bc2 c5 15.Qd3
Take a long look at White’s attacking formation. This is deadly and almost winning already. There is a mating threat on h7 which is prevented by the Nf6, so White can either attack it by d4–d5 followed by Bxf6 or Nf3–e5–g4. However, at present Black has ways to defend against these maneuvers so you have to prepare it. IM Sara’s execution is most efficient.
15…cxd4 16.Bxd4 Be7
16…Bc7 is better so as to be able to chop off the White knight when it lands on e5.
17.Rad1
I do not see a defense for Black anymore.
17…b6 18.Ne5 Bb7 19.Ng4 g6
[19…Re8 20.Rxe6! fxe6 21.Nxh6+ gxh6 22.Qg6+ it’s game over — mate follows]
20.Nxh6+ Kg7 21.Nxf7 Rxf7 22.Qxg6+ Kf8 23.Bxf6 Qc7 24.Qh6+ Ke8 25.Qh8+ Bf8 26.Rxe6+ 1–0
Nothing much you can say about that, she’s really got the goods. Enough, I daresay, to become woman’s world chess champion in a few years.
 
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 (UST) for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.
bobby@cpamd.net

Off the court tussle

The Warriors and Cavaliers are going at it again, but this time off the court. The subject of their conflict: Patrick McCaw, who, in two full seasons with the defending champions, averaged a whopping four, one, and one in 16 minutes of exposure. Including even more anemic numbers in the playoffs, he proved as crucial to their title runs as just about any other player riding the pine for them. Still, they wanted him back, and offered him a two-year contract worth $5.2 million that he subsequently declined because the second year wasn’t guaranteed. Enter the 2018 runners-up, with whom he signed a deal that his previous employers couldn’t match, and for whom he then wound up playing only three games.
Given the circumstances, the Warriors are crying foul, and have asked the Commissioner’s Office to investigate the manner in which McCaw wound up first with the Cavaliers, and then on waivers after a single week. No doubt, the 38th overall pick in the 2016 draft was miffed that negotiations on his salary dragged on to December, especially coming after an injury that had him missing most of the 2018 playoffs. Even as he understood that the blue and yellow were angling to avoid a huge luxury tax bill in retaining him, he felt that he needed security, and, in light of his contributions to the cause, deserved the cap hit. And though it may well have been what led him and agent Bill Duffy to the doorstep of the wine and gold, the fact that he seemed to hitch his future on non-guaranteed terms (as opposed to partially guaranteed ones) and then promptly secured unrestricted free agency was unacceptable to the titleholders.
True, McCaw was well within his rights to do as he did. And, true, the Cavaliers were well within their rights to get him and then, after seeing him in limited action, to let him go right before his contract would have been guaranteed. Considering how things played out, however, the Warriors evidently believe they conspired to ensure the development from the outset, and they have thus triggered a review of the proceedings. And, yes, the National Basketball Association has broad powers to do so, and can act accordingly. The flipside, of course, is that, even if collusion did occur, its very nature makes it extremely difficult to prove. Moreover, it appears to be counterbalanced by the $300,000 they had to shell out for his short stint.
Interestingly, the Cavaliers have expressed willingness to sign McCaw anew, but to a lower salary in exchange for a longer guaranteed period. Meanwhile, the Warriors are resolved to push their complaint, never mind his meager role in their aspirations for the hardware; broken down to brass tacks, their bid for a threepeat will not be impacted either way by his presence or absence. Clearly, they’re bent on making a point, with their motivations buoyed by the familiar sight of their rivals on the other side. Whether or not the NBA will ultimately enable them to make it, though, is another matter altogether.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Gov’t sells $1.5 billion in global bonds

THE PHILIPPINES sold $1.5 billion in 10-year offshore dollar bonds — priced 110 basis points (bps) above benchmark US treasuries and tighter than an initial 130 bps guidance — in an exercise which Finance officials said reflected investor confidence in the country.
“The Republic of the Philippines (ROP) successfully returned to the international capital markets with its offering of $1.5 billion of 10-year global bonds. The newly issued global bonds were priced at US Treasury spreads of T+110 bps after an initial pricing guidance of T+130 bps area,” the Bureau of the Treasury (BTr) said in a statement e-mailed to journalists on Tuesday.
About 37% of the bonds were allocated to Asia, 35% to Europe, and 28% to the United States, according to the BTr.
Bulk of the ROP bonds, or 52%; went to asset managers; 22% went to banks; 14% to sovereign wealth funds, pension funds and insurance; as well as 12% to private banks and other type of investors.
The debt notes are rated a notch above minimum investment grade at “BBB” by S&P Global Ratings and Fitch Ratings, and “Baa2” by Moody’s Investors Service.
The notes will be settled on January 14.
Funds raised will be used for “general purposes, including budgetary support.”
The government said that it timed the issuance to gain favorable terms, being the first emerging market economy to offer offshore dollar bonds.
“Capitalizing on the recent positive markets trading tone post the strong US employment data release on Friday, the Republic opportunistically announced the issuance on Monday, Jan. 7, 2019. The issuance marks the first EM sovereign USD bond issuance in 2019 and demonstrates the Republic’s ability to respond tactically to conducive market conditions to capture a favorable issuance window,” the BTr said.
INVESTOR CONFIDENCE
The offering attracted $4 billion in demand and signals investor confidence in the Philippines, National Treasurer Rosalia V. de Leon told Reuters.
Finance Assistant Secretary Antonio Joselito G. Lambino II said the tenders were more than double the offer size. “The Bureau of the Treasury priced the Philippines’ $1.5 billion, 10-year USD Global bond at 110 bps over US Treasuries, and an all-in yield of 3.75%. The issue garnered strong demand as the order book peaked at $4 billion,” Mr. Lambino said in a mobile phone message.
Finance officials said the positive result of the country’s first debt sale to foreign investors this year comes amid increased volatility in global markets.
“This transaction further illustrates deepening investor confidence in the Philippines’ growth story and the Duterte administration’s ability to maintain fiscal discipline while spending big on infrastructure modernization, human capital development and social protection for the poor,” Finance Secretary Carlos G. Dominguez III said in a statement.
The same press release quoted Ms. De Leon as noting: “We have garnered strong support from the global fixed-income investor community despite recently heightened volatilities in the global markets.”
“This demonstrates strong conviction from the global investor community on the Republic’s economic fundamentals as well as the depth of the Republic’s investor outreach.”
Bank of China, J.P. Morgan, and Standard Chartered Bank acted as Joint Global Coordinators for the transaction, while Citigroup, Credit Suisse, Goldman Sachs (Asia) L.L.C., and UBS acted as joint bookrunners for the transaction.
The government plans to borrow up to P1.19 trillion this year, with a 75-25 borrowing mix in favor of local creditors.
The administration of President Rodrigo R. Duterte seeks to spend P8-9 trillion throughout its six-year term ending in mid-2022 to boost economic growth to 7-8% annually by then from a 6.3% average in the six years of its predecessor.
The Finance department has said that it also plans to return to other offshore bond markets through renminbi-denominated “Panda” bonds and yen-denominated “Samurai” bonds 12-18 months after their previous issuance in March and August 2018, respectively. It is also exploring to tap bond markets in Europe. — Elijah Joseph C. Tubayan

Meralco bills lower this month

MANILA ELECTRIC CO. (Meralco) started the year with a reduction in the overall electricity rate to P9.835 per kilowatt-hour (/kWh) for January bills, down P0.3418/kWh from last month.
For typical households using 200 kWh, their monthly power bill will go down by around P68, the power distributor said in a statement on Tuesday.
Households using 300 kWh, 400 kWh and 500 kWh can expect their bills to decrease by P102.54, P136.72 and P170.90, respectively.
Meralco said the reduction, from P10.1803/kWh in December, was mainly due to the lower cost of power from its power supply agreements (PSA).
“[L]ower PSA charges were brought about by a reduction in capacity fees as a result of the annual reconciliation of outage allowances done at the end of each year under the PSAs approved by the Energy Regulatory Commission (ERC),” Meralco Public Information Office Head Joe R. Zaldarriaga said in a statement.
The generation charge for January went down to P4.9119/kWh, a P0.4184/kWh reduction from December’s P5.3303/kWh.
The decrease is largely the result of a P1.2293/kWh reduction in cost of power from Meralco’s PSAs, which provided 40% of the utility’s requirement for the December supply month whose charges appear in January bills.
Mr. Zaldarriaga said early completion of annual capacity payment for the Sual power plant’s unit 1, as well as Ilijan, Pagbilao’s unit 1 and Panay Energy Development Corp. “resulted in savings immediately passed on to consumers by way of lower electricity rates.”
“The capacity fees of PSAs will return to normal levels in January that will impact on February bills after the downward adjustment in December,” he added.
Meanwhile, charges from the Wholesale Electricity Spot Market (WESM) dropped by P0.0165 per kWh because of the improvement in the Luzon power situation. Meralco said demand for power in the Luzon grid went down by 101 megawatts.
The cost of power from the independent power producers (IPP) rose by P0.0847/kWh due to peso’s weakness. The utility said about 92% of IPP charges are dollar-denominated.
WESM and IPPs accounted for 18% and 42%, respectively, of Meralco’s supply.
The transmission charge of residential customers increased by P0.1210/kWh in January due to higher ancillary service charges from the system operator National Grid Corporation of the Philippines (NGCP).
Taxes and other charges slipped by P0.0444/kWh.
Meralco said in its statement that its distribution, supply and metering charges have been unchanged for 42 months, after these were reduced in July 2015.
It reiterated that it does not earn from the pass-through charges, since payments for the generation charge go to power suppliers while payments for the transmission charge go to NGCP. — V. V. Saulon

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