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Peso strengthens on mixed data

THE PESO strengthened further against the dollar on Monday on the back of continued pressure on the US currency due to economic data there.
The local unit ended Monday’s session at P53.56 against the greenback, eight centavos stronger than the P53.64 close last Friday.
The peso traded stronger the whole day, opening the session at P53.57 per dollar, climbing to as high as P53.54 intraday. Its worst showing meanwhile was at P53.635 versus the dollar.
Trading volume thinned to $645.25 million from the $723 million that switched hands last Friday.
A foreign exchange trader said the peso moved within a tight range yesterday as it traded stronger.
“Today’s intraday [low] was near Friday’s close. In addition, we saw the dollar index peaked,” the trader said in a phone interview on Monday.
Reuters reported that the greenback edged higher against a basket of currencies, with the dollar index standing at 96.446.
Despite this, another trader said the peso moved sideways due to the continued pressure on the dollar due to mixed economic data.
The US economy grew at a 3.5% pace in the third quarter, faster than the 3.4% market consensus. However, the personal consumption expenditure price index, the preferred inflation indicator by the Federal Reserve (Fed), rose 1.6% in the July-September period year-on-year, slower than the 2.2% projected by economists.
“The pressure is still on the dollar due to diminished expectation of another rate hike from the Fed this December,” the second trader said.
Meanwhile, UnionBank of the Philippines chief economist Ruben Carlo O. Asuncion said the peso “barely moved” yesterday, although the currency is expected to strengthen this week and in the coming weeks until the yearend “as the seasonal remittances influx begin.”
For Tuesday, the traders expect the peso to move between P53.45 and P53.65, while Mr. Asuncion gave a P53.20-P53.50 range. — K.A.N. Vidal

Local stocks climb on early window dressing

By Arra B. Francia, Reporter
LOCAL EQUITIES climbed on Monday, bucking the downturn in most international markets over the weekend due to concerns on the global economy.
The 30-member Philippine Stock Exchange index (PSEi) firmed up 0.63% or 44.70 points to close at 7,109.03 yesterday, extending last Friday’s gains. The broader all-shares index also gained 0.48% or 20.80 points to 4,353.39.
“With strong economic data readings from the biggest market, Philippine shares traded cautiously higher to kick start some early window dressing even as investors questioned the growth sustainability of the largest economy,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message.
Mr. Limlingan referred to the 3.5% growth of the United States economy during the third quarter, which beat forecasts of 3.4%. The growth, however, was slower than the second quarter’s 4.2%.
US indices fell last Friday, with the Dow Jones Industrial Average losing 1.19% or 296.24 points to 24,688.31. The S&P 500 index also shed 1.73% or 46.88 points to 2,658.69, while the Nasdaq Composite index plunged 2.07% or 151.12 points to 7,167.21.
Most Asian indices ended mixed on Monday, reflecting Wall Street’s losses last Friday.
Mr. Limlingan noted that concerns are not limited to the US, citing the weakness in Chinese firms amid the country’s ongoing trade war with the former.
“Profit growth in Chinese industrial enterprises slowed for a fifth month amid the ongoing US-China trade spat and a weakening domestic economy,” he said.
The property counter was the lone sub-index that ended with losses back home, dropping 0.48% or 16.98 points to 3,477.51. The rest went up, led by financials which rose 1.35% or 21.22 points to 1,584.78.
Holding firms advanced by 0.68% or 47.86 points to 7,005.75; services added 0.66% or 9.72 points to 1,471.31; mining and oil picked up 0.61% or 57.58 points to 9,468.80; while industrials gained 0.56% or 58.89 points to 10,581.30.
Some 552.99 million issues switched hands, resulting in a value turnover of P4.23 billion, thinner than the previous session’s P4.97 billion.
“Expect today’s low value turnover to continue to persist in the coming days especially with the long weekend ahead of us,” P2P Trade Online Sales Associate Gabriel Jose F. Perez said in an e-mail on Monday.
Mr. Perez also noted that sentiment in the US markets may continue to affect the performance of regional indices.
Net foreign selling was steady at P391.91 million, slightly lower than Friday’s P398.60 million.
Advancers outpaced decliners, 97 to 78, while 45 names remained unchanged.
The list of 20 most actively-traded stocks showed 12 advancers, including DMCI Holdings, Inc. (up 3.51% to P12.40); Universal Robina Corp. (up 2.92% to P133.80); San Miguel Corp. (up 2.19% to P168.10); and BDO Unibank, Inc. (up 1.98% to P118.30).

JPES holds this year's Equinomix in DLSU-Manila

The Junior Philippine Economics Society invites you to participate in this year’s Equinomix-Economic and Financial Literacy: A Tool towards Rational Decision Making as we celebrate the Economic and Financial Literacy week this November 10, 2018 at the Waldo Perfecto Room in De La Salle University Manila.
Catch our esteemed speakers this Equinomix 2018!

  1. Dr. Rosemarie G. Edillon – NEDA Undersecretary for Policy and Planning 2.
  2. Mr. Edmund Martinez – Assistant Vice President and Head of COL Premium 3.
  3. Mr. Melchor Plabasan – Deputy Director and Group Head of the Core Information Technology Specialist Group (CITSG), Bangko Sentral ng Pilipinas (BSP) 4.
  4. Dr. Benito L. Teehankee – Current trustee and Chair for Research and Vice-Chair for Education of the Shareholders Association of the Philippines, Current Vice-Chair of Corporate Social Responsibility Committee of the Management Association of the Philippines. 5.
  5. Dr. Lawrence Dacuycuy – Vice President of the Philippine Economic Society 6.
  6. Ms. Katie Buenaobra – Market Education team, Head, Sun Life Philippines

This seminar intends to provide the attendees with details about investment, the roles and responsibilities of an investor, stock market, cryptocurrencies, and fraud and scams.
The participants will also be given the chance to participate in various activities such as praxis which situates the players in real life setting where they initially have a job and may avail insurance, health and retirement plans throughout the session. To make the game more exciting, the Praxis Game Master, Mr. Jonathan Avila, may announce health and financial related crisis that will affect the decision making of the individuals. Another fun fact is that there will be a stock market where the players shall decide whether to go for low, medium or high-risk investments given the economic cycle.
Should you wish to participate in this significant gathering, here are the fees:
Member Organization-Registration Fee: PhP 250.00 inclusive of seminar kit, certificates and lunch.
Non-Member Organization- Registration Fee: PhP 300.00 inclusive of seminar kit, certificates and lunch.

Click this link to register: http://bit.do/ey3o7 
Deadline of registration is on October 31, 2018.
For any concerns, you may reach: Josephine Kate Rivera, VP for External and Academic Affairs, at 09551771397 or email her at external.jpes@gmail.com

Amid dour economic outlooks, the local semiconductor industry is still booming

Earlier this year, Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) projected a 6% growth in export sales, which they considered to be conservative amid the projected increase in demand for the commodity.
As of August this year, electronic product exports grew 7% year-on-year to $3.35 billion in free-on-board value, data from the Philippine Statistics Authority shows.
Semiconductors in particular posted a 7.7% year-on-year growth to $2.51 billion, taking up a 40.8% share of the whole commodity group.
But with the impending second package of Tax Reform for Acceleration and Inclusion (TRAIN) law expected to drive out investors by “rationalizing” the tax perks in the Philippines, exports-oriented industries—as well as investment promotions agencies—are less than optimistic about the near future.
US-based Maxim Integrated Products, Inc., however, claims the semiconductor industry will continue to grow for two reasons: Existing infrastructure and the workforce.
In fact, growth in this sector has been so rapid, demand for workers has outpaced labor supply. With 2,600 employees currently working at its testing facility in Cavite, Richard Allen Cohen, vice president for Maxim Integrated’s Asia factory operations, said they are still scrambling to make sure that they don’t run out of workers.
Maxim, a member of SEIPI, has been scouting for talent in colleges and universities throughout the country. To date, they’ve partnered with around 20 colleges and universities to “get the electronic courses to be more applicable in the semiconductor industry,” Cohen said.
Amid its campaign to help steer the country’ education system to suit the needs of the semiconductor industry, Cohen confessed that they still find it “a little hard to influence” as colleges and universities focus on getting their students to pass the board exams, rather than keep up with the demand of the industry.  
“A lot of the courses here [in the Philippines] really focus on the software and communications and those kind of things, specifically the products we make are for analog. They don’t teach a lot of that for school,” said John Nichols, Maxim’s vice president of Philippine operations.
According to Nichols, Maxim has been providing additional training for their workforce to suit their needs for 20 years. This includes both coursework and “hands-on” training where the future employees’ skills are applied on the line with a senior engineer in attendance.
Those who are accepted in their company undergo a three-month long training in its Cavite facility, with a preference for graduates of its internship program—about 60 to 70 a year.
“[O]ur hope is as people learn about the jobs in the industry and how good these jobs are, and how they can really have careers in the Philippines,” Cohen said. “They don’t have to go overseas. Then more and more kids and their parents will be attracted to our industry and provide us with more people.”
“[We have] to continue hiring. We need good people, no matter what,” he said.
 

Red Sox win World Series

LOS ANGELES — Steve Pearce slammed a pair of home runs and David Price tossed a seven-inning gem to power the Boston Red Sox to a 5-1 win over the Los Angeles Dodgers and their fourth World Series title in 15 years on Sunday.
The Red Sox, after winning a franchise record and Major League Baseball best 108 games during the regular season, carried their domination all the way to the World Series and overwhelmed the Dodgers 4-1 in the best-of-seven series.
The Red Sox clinched their ninth World Series title with a lethal combination of power and pitching.
Game Five starter Price surrendered one run on three hits in seven plus innings to collect his third straight postseason win, while all the Red Sox runs were scored via home runs.
Pearce, who was named the World Series most valuable player (MVP), gave Boston a 2-0 lead they would never relinquish with a two-run blast in the first and added a solo shot in the eighth. Mookie Betts and J.D. Martinez hit solo home runs.
Price said winning the World Series was the whole reason he came to Boston.
“Seeing all these grown men over there just acting like little kids, that’s what it’s all about,” he added. “To come out on top the way we did is unreal.
“This is why I came to Boston. I know it is a tough place to play and challenging with everything that was going to go on there.
“I’ve been through a lot the three years I’ve been there but this is why I came.”
The Dodgers and their fans arrived at Chavez Ravine on Sunday knowing only 13 teams had clawed their way back from 3-1 deficits to win a best-of-seven postseason series.
The last to do it was the Chicago Cubs against the Cleveland Indians in 2016 as they claimed their first World Series crown in 108 years.
Backed into a corner and with their bullpen worn out, the Dodgers turned to three-time Cy Young winner Clayton Kershaw, while the Red Sox countered with their Cy Young winner Price.
The chances of a Fall Classic pitchers duel seemed unlikely when both starters were clobbered for first-inning home runs.
After Andrew Binitendi singled, Pearce took the first pitch he saw from Kershaw and launched into the centre field bleachers for a 2-0 lead.
“Baseball is a funny game, great things can happen and I am very blessed to be here right now,” said Pearce, who has played for every team in the American League East. “That’s what our team is about we show up every single day.
“We knew we were going to be here the whole time and it is just a great feeling.”
The Dodgers, who were beaten by the Houston Astros in last season’s World Series, hit back right away when David Freese crushed a leadoff homer to get Los Angeles on the scoreboard.
The first-inning fireworks gave way to the pitching battle many had predicted with Price and Kershaw settling down and tossing four shutout innings.
Boston seized control in the sixth when Betts, in an 0-13 slump at the plate, smashed a solo shot while Martinez connected for a leadoff homer in the seventh.
Kershaw, who has never lived up to his Cy Young credentials in the postseason, endured another rough outing and gave up four runs on seven hits in seven innings of work. — Reuters

Regret, hope as Season 94 campaign ends for Letran

By Michael Angelo S. Murillo
Senior Reporter
WHAT was a competitive campaign in Season 94 of the National Collegiate Athletic Association (NCAA) for the Letran Knights came to an end on Oct. 26 when they lost to the Lyceum Pirates in their semifinal clash, a turn of events that the team viewed with regret and hope.
Carrying a twice-to-win disadvantage against the second-running Pirates, the third-seeded Knights tried very hard to buck the odds but in the end just could not pull it off as they slumped to the defeat, 109-85.
The loss effectively eliminated Letran, which wound up with a 13-5 record in the elimination round and was one of the more steady teams in the tournament.
Against Lyceum in the Final Four, Letran was in the contest for much of the way until floor general JP Calvo got hurt very early in the third period when they were starting to make their move.
The graduating Calvo was hurt in a loose ball scramble when Lyceum big man Mike Nzeusseu accidentally landed on his ankle.
Calvo had to be carried off the court by teammates after because he could not put much weight on his ankle.
He was able to return to the game but could not do much as his rhythm was no longer there.
Letran coach Jeff Napa lamented that what happened to Calvo changed the complexion of the game for them, believing that had their point guard was there it would have been a better story for them.
“When Toto (Calvo) went down it was a big blow for us because I think we were already ahead at that time. When he went down I saw the team was really concerned and everybody was affected. But we’re not using that as an excuse,” said Mr. Napa.
Also feeling sorry was veteran Bong Quinto, who like Calvo played his last game in the NCAA.
Quinto said he was very disappointed on how he played and felt he could have performed better, more so when Calvo got hurt.
“I could have played better. I wasn’t able to do much to help my team in this game. I’m disappointed because I’m one of the players the team was looking to but I was not able to deliver as much as I wanted to. I’m partly to be blamed for this loss but it’s already done,” said Quinto, who was part of the champion Letran team in Season 91.
LOOKING FORWARD
While their season came to an end earlier than they wanted to, the Knights are nonetheless are hopefully that next year will be a better one for them, armed with the lessons they had in Season 94.
“Next year will be a different story. A lot of players will be coming in from our Team B. We have already prepared ourselves for the departure of Bong and JP and the others who will be leaving. We are looking forward to Season 95,” said Mr. Napa.
“Next year, I expect Jerrick Balanza (had his season abruptly ended this year because of surgery to remove a tumor in his brain) will be a hundred percent. Bonbon (Batiller) is still there, and so do Larry Muyang, Christian Fajarito, and Jeo Ambohot. So I’m pretty confident of those of who will stay with us for next year. I think we can present problems to the other teams next year, more so that we are determined to bounce back,” the coach added, even as he said that he, too, learned a lot as a coach in Season 94.
The finals for of NCAA Season 94 will begin on Nov. 6 and will feature the rematch between defending champions San Beda Red Lions against Lyceum.

Petron Blaze Spikers ready to defend PSL All-Filipino title

THE Philippine Superliga All-Filipino Conference kicks off today with the defending champions Petron Blaze Spikers expressing readiness to defend their crown.
Petron, which won the title in 2017 over the F2 Logistics Cargo Movers, are going to be powered by veteran Ging Balse and a healthy Frances Molina as they set their title retention bid into motion.
Misses Balse and Molina will join forces with Rhea Dimaculangan, Aiza Maizo-Pontillas, Mika Reyes, Jasmine Alcayde, Buding Duremdes, Remy Palma, Pia Gaiser, Chloe Cortez, Angel Legacion, Carmela Tunay, Sisi Rondina, and Bernadeth Pons.
“We’re the defending champion, so there’s really pressure going into this tournament. But we’re confident that we had a good preparation in the off-season and we’re ready to go,” said Ms. Molina, who is coming off a stress fracture injury that led her to withdraw from the national squad that saw action in the 18th Asian Games and AVC Asian Women’s Cup in September.
For the Petron coaching staff, while they feel good of their chances of retaining the title, much work still needs to be done.
“Defending our crown will never be easy as all teams have prepared for this conference. We just have to go there and do our best in every game,” said Petron deputy coach Ian Fernandez.
Petron will begin its campaign against the Cocolife Asset Managers in the 4:15 p.m. game today at the FilOil Flying V Centre in San Juan City.
Other games will feature the Smart-PLDT Giga Hitters against Sta. Lucia Lady Realtors at 2 p.m. and the F2 Logistics versus Cignal HD Spikers at 7 p.m.
The PSL All-Filipino Conference is broadcast over ESPN5, Aksyon TV and Hyper HD. — Michael Angelo S. Murillo

Groups rally behind football in uniting people, improving lives

By Michael Angelo S. Murillo
Senior Reporter
ON Oct. 20 the British Embassy Manila and Football for Humanity Foundation (FFH) were joined by cross-sector groups in celebrating “UK-Philippines Friendship Day Football,” an event that was also used as an opportunity to underscore the potential of sports, in particular football, in uniting people and improving lives.
Took place at the Everest Skypitch in Silang, Cavite, the friendship day was marked by a half-day football clinic and game session for children, some disadvantaged from Mindanao.
Present during the event were officials of the British Embassy, led by head of trade and investment Richard Colley, and FFH, along with representatives from the Armed Forces of the Philippines, Mindanao Peace Council, Maharlika Sports Development of Davao, Quota International–Davao, Alorica Philippines, ASDA–UK, Laguna Lions FC, Football Manila and Tala Manila.
The children who participated in the clinic and game session were from the Dar Amanah Children’s Village Foundation and Barangay Hoyo in Silang.
In his message during the event, Mr. Colley, who represented British Ambassador to the Philippines Daniel Pruce, highlighted how British and Philippine relations have been in existence for a long time now and how the two countries have collaborated on various causes.
He went on to say that the British Embassy supports the efforts of different organizations, including FFH, to continue their work of uplifting the lives of Filipino children.
For the Mindanao Peace Council, the friendship day and what it stands for bring much hope to it in relation to what it is trying to do in Mindanao.
“This day gave me hope. It is something to look forward to that there is another avenue to use to bring about peace in Mindanao. We at the Mindanao Peace Council are trying to find different ways to try to stop conflicts and violence in the area. It’s not only the job of the government and the soldiers but it should come from each and every one of us,” said Hope M. Fernandez-Mendoza of the Mindanao Peace Council and lead convenor of H.O.P.E. Foundation, in an interview with BusinessWorld when asked for his thoughts on the event.
She said the partnership of the Mindanao Peace Council and FFH has been in existence for a little over a year but it has been doing its share in promoting peace in the region through football and that they fully support the thrust.
“Balls instead of bullets. Mindanao has the areas and it just needs the programs,” said Ms. Fernandez-Mendoza.
On the part of FFH, a charity dedicated to using football and the power of play to create personal and social transformations, to see its push in the country get added dimension and have more organization coming on board is truly a welcome development.
“It started with a dream basically. When I came here in the Philippines and saw the people and the culture and the great demand for football, we developed a strategy which allowed us to implement our vision,” said FFH founder Chris Thomas in a separate interview.
“Football is just one tool that can help bring peace and development. We hope to continue doing it in Mindanao and going to other places to bring the same opportunities,” added Mr. Thomas, whose organization can be reached through www.footballforhumanity.org.uk and www.facebook.com/footballforhumanity.

Kai Sotto in Gilas line up?

THERE’S a strong possibility that Kai Sotto might crack the line-up of Gilas Pilipinas playing in the next window of FIBA Asia World Cup Qualifier on Nov. 30 and if so, he’ll be the only high school player who could play alongside the men’s team in the elite competition.
Gilas Pilipinas head coach Yeng Guiao had already included the 7-foot-1 Sotto in the pool, which means he could be suiting up for the national men’s basketball team in the next window game against Kazakhstan and against Iran on Dec. 3.
Guiao decided to include Sotto, whom he believes should be accelerated as the high school competition in the country is definitely no match for him. Sotto’s dominance in his age group level, the under-16, caught the attention of many teams in the United States and Europe and the second generation cager received feelers.
Kai’s dad, Ervin, confirmed that his son could be tapped to play next month. Ervin works as one of the assistant coaches of Guiao at NLEX in the PBA as well as the Bataan Risers in the MPBL.
“There’s a big possibility he would play. Coach Yeng already included him in the pool, but Kai is not required to practice with the team since he’s still studying in Ateneo,” added the elder Sotto.
The Philippine men’s basketball team will resume training on the first Monday of November.
Kai had attended several workouts of the men’s national team as well as Guiao’s PBA squad, and the exposure he could receive with Gilas Pilipinas would boost his stock more in the international market. Sotto is one of the top players in the young men’s level as proven by his stint with the Batang Gilas team that went on to qualify in the FIBA World Cup Under-17 division.
But can Sotto make some contribution once he joins the big dogs?
It wouldn’t be surprising if the young Sotto becomes even better as soon as he plays alongside the best players in the country and Guiao, who has the penchant of bringing the best out of his players and noted for developing young talents, could make the young, promising center the next big thing in Philippine basketball. — Rey Joble

Philippines versus Spain

In the Batumi Olympiad our women’s team had a great victory over Spain, the 15th seed, in round 6. As can be seen from the table below we were out rated on every board and yet came away with a 3.0-1.0 victory.

bd01 IM Sabrina Vega Gutierrez 2404 vs WGM Janelle Mae Frayna 2287; 1/2

bd02 FM Marta Garcia Martin 2329 vs WFM Shania Mae Mendoza 2113; 0-1

bd03 IM Ana Matnadze 2362 vs WIM Marie Antoinette San Diego 2102; 1/2

bd04 WGM Monica Calzetta Ruiz 2235 vs WIM Bernadette Galas 2080; 0-1

Our margin of victory could have been much bigger, as top board WGM Janelle Mae Frayna, the first and so far only Woman Grandmaster from the Philippines, had a winning game but nerves got in the way. Janelle told her story:

Vega Guiterrez, Sabrina (2404) — Frayna, Janelle Mae (2287) [C00]
Women’s Chess Olympiad 2018, 28.09.2018 [WGM JM Frayna]

1.e4 e6
I was convinced by coach GM (grandmaster) Jayson to return to my old weapon, the French Defense. Recently, I mostly play 1..g6 and try to stir the game into Modern or Pirc territories.
2.Qe2
Usually my opponent plays the Tarrasch Defense 2.d4 d5 3.Nd2. When I studied her games I came to a conclusion that she has particular inclination to positional chess. Since this is the Olympiad, I always expect my opponents to try and play something they don’t usually do so as to frustrate my opening preparation — this game was no exception.
2…e5!?
My preparation ended here! I just know that Q on e2 isn’t that appealing for 1.e4 e5 lines. Now I just have to trust my instincts.
3.Nf3 Nc6 4.c3!? Nf6
White was obviously planning to push her pawn to d4 and I was not sure how to continue. Here are more or less my thought processes:
4…Bc5 is no good, white can now make good use of her extra Q tempo with 5.Nxe5! typical idea 5…Nxe5 6.d4 Bd6 7.dxe5 Bxe5 8.f4 Bf6 9.Be3 and white has smooth development;
4…d5 I thought for about 25 minutes on this move. I wanted to play ala Ponziani Opening with the added move of Qe2 but I saw that this wouldn’t work in my favor 5.exd5?! (5.Qb5?! During the game I felt so annoyed by this possibility 5…dxe4 but 6.Nxe5 Qd6 and Black is at least fine 7.Nxc6 bxc6 8.Qe2 Nf6 since in exchange of the broken pawn structure, white danced too much with the royal mistress) 5…Qxd5 6.d4 Bg4 7.dxe5 0–0–0 8.Nbd2 if she plays this line, I believe I would be better but taking the pawn isn’t forced at all;
I finally decided against playing 4…d5 because of 5.d4! and I think I am losing a pawn thanks to White’s seemingly misplaced queen!
5.d4 d6 6.d5 Nb8!? 7.c4
Ok. 7. c4 is a normal center grabbing move. But guess what, I’m totally happy she played it. Since I know I could transpose the line to a King’s Indian Defence (KID). IM Sabrina Vega has more than 1,450 games in my database and I noticed that she only plays 1.d4 if she believes that her opponent will reply with 1…d5. In other words she does not like playing against Indian Defenses. So I got this feeling that psychologically, I have won the opening battle already. Maybe it’s too subjective but that’s how I convince myself!
7…g6 8.Nc3 Bg7 9.h3 0–0 10.Be3 Nh5
The King’s Indian Makogonov System goes 1.d4 Nf6 2.c4 g6 3.Nc3 Bg7 4.e4 0–0 5.Nf3 d6 6.h3 e5 7.d5. That is basically the position we have on the board except that White’s queen is on e2.
11.g3 Na6?!
An “automatic” move. It seems to me now that 11…a5 is better in anticipation for a probable queenside castling 12.Bg2 Na6 13.0–0–0 (13.0–0 Bd7 then a4) 13…Qe8! this is far better than the normal developing move 13…Bd7 as I think playing f7–f5 is still a priority even in opposite side castlings. Black should be okay here.
12.Bg2 f5?! 13.exf5 gxf5 14.Ng5! Nf6?!
Played after about 25 minutes. I thought 14…Qe8 was a mistake because of 15.Ne6 Bxe6 16.dxe6 f4 17.gxf4 exf4 18.Bd2 Nc5 19.e7 then I stopped in this line thinking white is simply better but 19…Rf5 saves the day 20.0–0–0 Re5 21.Qf3 c6 with equal chances.
15.0–0–0
[15.g4!? is possible here, this blasting idea is also typical in KID structures]
15…Qe7 16.Ne6 Bxe6 17.dxe6 c6
I don’t think I have a choice here.
18.g4! f4 19.Bd2 Nc5
Improving my worst piece. I felt like I was walking a tightrope but at least I’m hanging well! Now, I have my counter chances. 19…Qxe6 20.Bxf4 Nxg4 21.hxg4 Rxf4 it seemed to me that Black’s position is dangerous.
20.g5 Ne8 21.h4 Nc7
I wanted to put my knight in d4 to create counter possibilities. Both of us are now down to about 10 minutes.
22.h5?!
[22.Ne4 is essential to create some nuisance and counterattacks on the king 22…N7xe6 but during the game I think white may have her chances if I defend poorly]
22…N7xe6 23.h6? <D>
POSITION AFTER 23.H6
Played on instinct, I guess?
23…f3!
Now I am winning.
24.Bxf3 Nd4 25.Bd5+!?
[25.Qf1 Rxf3 is too tame and I think could convert my advantage with 26.hxg7 Nd3+ 27.Kb1 Nxf2 Black is clearly winning]
25…cxd5 26.Qh5
I was surprised that Bh8 was simply winning for me. I was just so worried of the possible opening of the g-file, and some ghost mating ideas. This clearly shows my lack of courage and faith on my calculations. With this game, I have committed too many safe moves that eventually made me miss the win.
26…Nd3+?!
Not the best but it still should be enough for me to win the game. 26…Bh8 27.g6 Rf5! keeping my cool and finding counter attacking moves 28.Nxd5 (28.Qh3 hxg6 29.h7+ Kf7 30.Nxd5 Qe6 White has just given up too much material) 28…Qe6 29.gxh7+ Kxh7 I am simply winning.
27.Kb1 Nxf2 28.g6
This isn’t the best move for a losing position, that’s according to the engine. But for human, I think this is the best effort to make things more scary for me. 28.hxg7 Qxg7 29.Nxd5 Nxh1 30.Nf6+ Rxf6 31.gxf6 Ng3! intermediate move. I have to work more on my tactics and of course get my nerves under control!
28…hxg6?!
Played immediately. 28…Bf6! is a clear win. After 29.Rdg1 (29.Nxd5 Qe6 threatening Nh1 or liquidation with Qf5) 29…Nxh1 White has no good follow-up.
29.Qxg6 Nxh1?
I played two consecutive quick moves. I have about 3 minutes in my clock so I rushed on taking the rook on h1 but this is stupid since I have another choice of capture! 29…Nxd1 and I think it’s over with a pawn and exchange up. This could be an easy endgame win for me 30.Rxd1 Qf7 an irresistible trade as I have access on the crucial f5 square.
30.Rxh1
When she played this move, I broke out in cold sweat because I already saw what’s coming and I realized that what I played was a mistake. I had only expected 30.Rg1 Qf7 of course, parrying the threat (30…Rf7 31.Nxd5 Qe6) 31.Qxg7+ Qxg7 32.Rxg7+ Kh8.
30…Qf7?! 31.Qxg7+ Qxg7 32.hxg7 Kxg7?!
I considered 32…Rfd8 for a long time. Then I thought after 33.Bg5 Rdc8 34.Nxd5 Kxg7 would leave my king exposed and she could somehow force some tricks. What a dummy! I hate it whenever I play too cautiously.
33.Bh6+ Kg6 34.Bxf8 Rxf8 35.Nxd5
With just seconds on my clock, I was so confused on what transpired on the board. From decisive advantage to a slightly better position but I still thought that even with one pawn I could still nail the win. But the files were wide open and I know she’s got some annoying checks on her sleeves.
35…Re8?!
The final dubious move. 35…Rf3 36.Rg1+ Kf7 37.Rh1 b5 38.cxb5 Nxb5 39.a4 Ke6! another in-between move! Black is clearly better.
36.Rg1+ Kf7 37.Rf1+ Kg7
Alas! The king cannot escape! 37…Ke6?? 38.Nc7+
38.Rg1+ Kf7 39.Rf1+ Kg7 40.Rg1+ Kf7 ½–½
I had multiple chances to win but let them slip through my fingers. I understand that for me to win games, I have to be firm with my calculations, work on my nerves and practice a champion’s attitude of being bold and fearless.
This was a thrilling day for the team as we defeated the 15th seed Spain (3–1). It’s just a pity that we had not sustain our good start in the first half of the tournament with 4.5/6. We slumped down to 67th as a result of our poor output of winning just one out of the five remaining rounds. As the first board player, I felt responsible for our team’s final standing. I felt we could have done better, but life goes on. It only means that we still lack of training and the heart to win crucial games. I will be better, we will be better. Hoping to play for our flag again in the 2020 Chess Olympiad but not only just to play but to dominate our category group or even reach the top 10.
 
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

Cavs fire Lue

Yesterday’s firing of Tyronn Lue was no surprise to longtime followers of the National Basketball Association in general, and of the Cavaliers (Cavs) in particular. The contention that players win games and coaches lose them may be cliched, but it’s also essentially true. Which was why he met the news of the change in his employment status with Zen-like calm and acceptance. He was without a victory in six games to start the 2018-19 season, and blame necessarily fell on his shoulders.
No doubt, the decision to move on from Lue wasn’t easy for the Cavaliers. After all, he helped steer them to their first-ever championship since they joined the league in 1970 — and, exponentially adding to the historic significance, as vast underdogs who had to mount a hitherto-unheard-of comeback from a one-and-three deficit in the Finals. He was the rare players’ mentor who didn’t just emerge from the ranks and knew whereof he spoke; he possessed the title cachet to engender respect from marquee names in his fold.
Indeed, it takes a unique blend of talent, communication skills, empathy, and leadership to shepherd today’s superstars and the constantly changing rosters around them. And, as the biggest by far of the current generation, LeBron James is especially difficult to deal with. Yet, Lue managed to rewrite record books with him, and to the point where he continually acknowledged their productive relationship. “Thanks for the memories, and, more importantly, our partnership [in] bringing a title to that deserved city/fan base,” he tweeted yesterday after its subject was shown the door.
Cavaliers general manager Koby Altman is right. There will be other opportunities for Lue, just not the one that requires a playoff berth while in support of a youth movement. Meanwhile, he will be remembered for a great many things, not least of all the successful run for the Larry O’Brien Trophy that culminated in him shedding happy tears alone on the bench as the buzzer sounded in Game Seven of the 2016 Finals. And, if nothing else, his experience captured the thankless job he had. In the highest of highs and the lowest of lows, the joy is in the work itself.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

UnionBank posts lower net income in first nine months

By Anna Gabriela A. Mogato
Union Bank of the Philippines, Inc. (UnionBank) recorded a lower net income in the first nine months of 2018, dipping to P6.1 billion from P6.4 billion in the same period last year, despite sustained double-digit growth in customer business.
In a disclosure to the stock market on Monday, UnionBank Treasurer and Chief Financial Officer Jose Emmanuel U. Hilado said that their margins were affected by the increase in interest rates and lack of new loan releases to teachers.
“We expect margins to improve as assets reprice and now that CitySavings’ access to DepEd’s automatic payroll deduction system has been resolved,” he added. CitySavings is the thrift bank subsidiary of UnionBank
“We remain confident in sustaining our robust earning asset growth which shall be supported by our successful Php10 billion rights offering,” he added.
Overall loans grew 18.6% year-on-year to P315.3 billion, boosting Unionbank’s total assets by 17% year-on-year to P643 billion. The Aboitiz-owned bank’s assets are mainly supported by deposits valued at P441.4 billion.
The company’s net revenues, on the other hand, grew by 3.3% to P18.9 billion from P18.3 billion a year ago.
This third-quarter performance translated to an annualized Return on Equity of 11% and a Return on Average Assets of 1.3%.

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