Home Blog Page 11782

Grieving Pakistani Christians mark Christmas after IS attack

QUETTA — Pakistan deployed commandos inside and around a church in the southwestern city of Quetta Monday as its grieving but defiant congregation marked Christmas days after they were targeted in a deadly Islamic State-claimed attack.

Snipers were positioned on top of the church, as survivors spoke of their lost loved ones and called for the congregation to be armed at a quiet, somber service.

One injured survivor burst into tears while approaching the altar to receive Communion, with other members of the congregation weeping as they watched.

“It is normally a joyful day, but it is painful… for all of us that attended the service while remembering the day of attack, as well as our near and dear,” said one young worshipper, Aftab.

The suicide bomb attack last Sunday killed nine people and wounded 30 during a service at the Methodist church in Quetta, capital of restive Balochistan province.

Officials have said police intercepted and shot dead one attacker outside the church before he could detonate his bomb. But the second managed to reach the church’s main door, where he blew himself up.

The church had been more crowded than usual that day as it was close to Christmas.

On Monday, the congregation was smaller, down to about 250 instead of its usual 350 or so, despite the heavy deployment of police and paramilitary troops.

“Fear was haunting us during the service,” said Rukhsana Nazir, a mother who added that six of her relatives were wounded in the attack.

However, other survivors, including Nazir’s 13-year-old daughter Sheeza, said they felt no fear as they had put their faith in God.

The service was also attended by some local Muslim leaders and politicians as a show of solidarity.

The church itself was first established in 1890, officials there told AFP. Its Reverend Simon Bashir said he has been calling for greater security there for nearly a decade.

Some worshippers said they should be allowed to carry weapons to services, fearing future attacks.

One of the injured, 40-year-old Kashif Shamshad, said they would raise the issue “as we are under threat.”

The head of the Karachi-Balochistan Diocese, Bishop Sadiq Daniel, who visited Quetta for the service, agreed.

He said the idea has already been proposed to the police, who have asked the community to send them volunteers for weapons training.

Christians make up less than two percent of Pakistan’s 207 million people and have long faced discrimination in the conservative Muslim country — sidelined into low-paying jobs and sometimes the target of trumped-up blasphemy charges.

Along with other religious minorities, the community has also been targeted by Islamist militants over the years.

In 2013, 82 people were killed when suicide bombers attacked a church in the city of Peshawar.

And last year, Lahore suffered one of Pakistan’s deadliest attacks — a suicide bombing in a park that killed more than 70 people, including many children, on Easter. — AFP

Rookie watch

The new season of the Philippine Basketball Association (PBA) is now in full swing with the opening conference Philippine Cup being played.

And much like in years past, this space has been busy observing at this stage of the competition, including, among other things, how the league’s newbies, or rookies, are faring early in their PBA journey.

Some have made strong impressions out of the starting gates while others are still finding their way.

No doubt of all the rookies this season, the NLEX Road Warriors’ Kiefer Ravena has been having it solid so far.

The number two pick in this year’s draft, behind top selection Christian Standhardinger of San Miguel who is set to make his PBA debut in the second conference, Ravena has been living up to his top billing.

Known for the longest time as “The Phenom,” Ravena has been bringing the numbers for NLEX with early norms of 19 points, 4.5 rebounds, 8.5 assists and three steals per ball game while helping the team to an unblemished record in two games to date.

That NLEX has given full confidence on Ravena to do what he does right from the get-go has certainly helped the former Ateneo King Eagle to make waves in the local pro league.

It remains to be seen if Ravena can continue his solid form against the top teams in the league, as their two victories came over middling and/or bottom teams Kia and GlobalPort, but signs are pointing that he has it in him to handle such, good news for NLEX.

Another player that has impressed early is Blackwater Elite’s Raymar Jose.

Albeit they bowed to the Meralco Bolts in their opener, the former Far Eastern University stalwart made a good account of himself with 16 points, six rebounds, two assists and a block.

I must admit that as far as Jose in the PBA I am wait-and-see. It is not so much that I do not believe in his abilities as a player but more of I find him undersized in the power forward position and may have a hard time adjusting early on, if at all, in the PBA.

You cannot blame me though for league history is littered with many undersized big men coming off the draft who eventually fell by the wayside.

But in his first game he made me think, and that he could be different and make a difference after all with his energy and hustle. So let’s see.

La Salle’s Jeron Teng as expected was an offensive force in his first game with the Alaska Aces with 16 points and that dimension of his game should be a boon to the team.

I want him to see though improving on other facets of the game, particularly rebounding and defense, in line with what the Aces are all about as a team.

Jason Perkins of the Phoenix Petroleum Fuel Masters and Robbie Herndon of the Magnolia Hotshots are a pair of undersized backliners but nonetheless are holding their own so far.

Perkins finished with a near-double double of 10 points and nine rebounds in his PBA debut, a loss to San Miguel, but he was foul-plagued for much of the contest which should be addressed if he is to really make a major dent.

Herndon, for his part, has been repaying the confidence that the Hotshots have given him with steady, not necessarily dominant, play. Whether he will be the next All-Star forward to come out of the Purefoods franchise we will just have to see. But the potential is there.

It still early in the season and I am sure more rookies, like Rey Nambatac of Rain or Shine, Sidney Onwubere of TNT, Lervin Flores of GlobalPort, and, of course. Standhardinger would show what they are capable of doing, something to look forward as the new PBA year progresses.

 

Michael Angelo S. Murillo has been a columnist since 2003. He is a BusinessWorld reporter covering the Sports beat.

msmurillo@www.bworldonline.com

‘Pulong’ weary of issues against him — Duterte

PRESIDENT Rodrigo R. Duterte has admitted that his eldest son Paolo had consulted him before announcing his decision to resign as Davao vice-mayor during a special session of the city council on Christmas Day. He thinks it is possible that his son, nicknamed “Pulong,” had grown weary of the issues and intrigues being hurled his way. “Nagtanong siya kagabi . . . Habang naghihintay kami ng balita, tinanong niya ako. Sabi ko sa kanya, kako ikaw. You are in the position to do what is right. Kung ano lang ang tama sayo ay gawin mo [He asked me last night, while we were waiting for updates on the mall fire, about what I thought of his decision. I said, ‘it’s up to you. Just do what you think is right],” said the President late on Christmas Day, adding that Pulong may have been hurt by insinuations he had abused his influence as presidential son to stage the controversial pictorial in Malacañan Palace of his daughter Isabelle. The pictorial drew flak because the seal of the President was used as backdrop in violation of laws. In his opening statement that shocked the city council as it held a special session on Christmas to approve the release of the balance of Davao’s 2017 disaster funds, Pulong Duterte had alluded to marital problems and his “very public squabble” with his daughter as among the recent incidents that prompted his resignation. But he also cited an earlier controversy: allegations of involvement in the P6.4-billion shabu smuggling. It remained unclear if the President would act on his son’s resignation, after Mayor Sara Duterte-Carpio said this needed approval by the Office of the President and that he is deemed “on leave” in the meantime. — News5/interaksyon.com

Credit Suisse risks loss on Trump tax overhaul

CREDIT SUISSE Group AG is at risk of posting a third consecutive annual loss after predicting it will take a 2.3 billion-francs ($2.33 billion) hit from a US tax overhaul signed into law by President Donald Trump.

Unless the Zurich-based bank made significantly more than 1 billion francs in the final quarter of this year, the write-down could trigger yet another yearly deficit for the lender, which had a net income position of 1.14 billion francs after nine months.

The new tax bill means both “Credit Suisse and UBS will have to book a loss,” Andreas Brun, an analyst at Mirabaud, said by phone.

“It won’t affect Credit Suisse’s share price since they’ve guided for it and the write-down doesn’t affect the regulatory capital,” Brun said. “However, it doesn’t look nice for Credit Suisse to post another full-year loss because of a one-off regardless of all the progress they’ve made.”

Credit Suisse has sought to reassure investors by saying that the policy for returning capital to shareholders remains unchanged and that the one-time accounting adjustment will have a “minimal” effect on the capital position. Tidjane Thiam announced a return on tangible equity target of as much as 12% by 2020 at the investor day in London on Nov. 30, the first profitability target under his tenure.

‘NEGATIVE IMPACT’
The new tax on services and interest payments to affiliates outside the US is “likely to have a negative impact” on tax liabilities in 2018, Credit Suisse said. The bank will provide a more detailed account on the US tax reform’s impact with the release of its full-year results scheduled for Feb. 14.

The lowering of the corporate tax rate from 35% to 21% will benefit most companies but it also requires them to recalculate deferred tax assets that have accumulated on their balance sheets. Bank of America Corp. will also take a $3-billion charge and biotechnology company Amgen, Inc. announced a write-down of $6 billion to $6.5 billion.

“Credit Suisse anticipates that the reform will have a positive impact on the US economy and our activity levels in the US,” the bank said in a statement on Friday, particularly in investment banking activities in advisory and underwriting.

The write-down may result in a loss of between 900 million francs and 1 billion francs for 2017, said Daniel Regli, an analyst at Main First. “I don’t believe that this will be a concern for shareholders, as the write-down isn’t relevant for the CET1 (common equity Tier 1) ratio and thus the dividend,” he said.

UBS AG guided in September that every one percentage point reduction in the tax rate would result in a write-down of approximately 200 million francs. UBS spokesperson Alec Zimmermann confirmed the guidance but wouldn’t comment any further. — Bloomberg

Singer Mariah Carey returns to Times Square New Year’s after debacle

NEW YORK — Mariah Carey must have made a New Year’s resolution to ensure a better sound system.

The pop diva confirmed that she will return to Times Square in New York to ring in 2018, a year after she was humiliated by technical issues at the annual televised ball-drop.

“We can all agree that last year didn’t go exactly as planned and we are thrilled to move forward together to provide America with an incredible night of music and celebration,” Carey said in a joint statement Friday with Dick Clark Productions, which runs the show.

The microphone system last year began to malfunction as Carey sang the opening notes of the New Year’s song “Auld Lang Syne.”

A visibly upset Carey said she was leaving but then stayed, with her back-up dancers still performing and the producers switching to an audio recording of her voice.

She half-heartedly mimed her way through her hit “Emotions,” in what was meant to be the entertainment climax for the throngs waiting hours in the cold in Times Square.

Carey, famed for her sweeping five-octave vocal range, was one of the best-selling artists of the 1990s. She developed a close association with the holiday season through her hit “All I Want for Christmas Is You” and for several years has performed a set of Christmas-themed concerts in New York.

The latest New Year’s Eve celebration will also feature pop singer Nick Jonas and the former Fifth Harmony vocalist Camila Cabello, whose debut solo album is one of the most anticipated releases of early 2018. — AFP

Japan’s Abe extends condolences

PRIME MINISTER Shinzo Abe in his message on Monday, Dec. 25, to President Rodrigo R. Duterte said he was “deeply saddened and worried to learn the news that many precious lives were lost and serious damages were brought, including collapsed houses, forcing many people to evacuate, in your home region of Mindanao and other parts of the Philippines due to the recent typhoon.” He added: “I would also like to convey my sincere condolences on the fire in Davao City which caused many casualties. Japan is ready to provide assistance needed by your country including provision of emergency relief goods to the maximum extent possible and sincerely pray that the affected areas will recover as quickly as possible.” In his message to his Filipino counterpart Alan Peter S. Cayetano, Japanese Foreign Minister Taro Kono also said in part, “The Government of Japan is ready to provide assistance when needed by the Philippines.”

Iraq’s oil minister optimistic crude prices will rise

BAGHDAD — Iraq’s Oil Minister Jabbar Al-Luaibi said he’s optimistic crude prices will increase in 2018, with global stockpiles falling and demand on the rise in China and India.

“I am very optimistic that in the first quarter, oil markets will witness balance,” Mr. Luaibi told reporters in Baghdad.

The Organization of the Petroleum Exporting Countries, of which Iraq is the second-biggest producer, agreed with allies this year to cut output amid efforts to reduce global inventories. The cutbacks contributed to a 15% rise in Brent crude prices this year. Iraq produced 4.36 million barrels a day in October, down from 4.83 million a day at the end of last year, according to Joint Organisations Data Initiative data.

In the meantime, Iraq has taken steps to develop oil fields on its own and to be ready for when output cuts end. China ZhenHua Oil Co. will develop Iraq’s east Baghdad oil field, pending cabinet approval probably next month, Abdul Mahdy Al-Ameedi, director general of Oil Ministry’s licensing department, said. The field will require a $3-billion investment, with the target for output to be 40,000 barrels a day in five years, he said.

In recent weeks, Iraq has started test production at the Subba field in the south, invited companies to take part in building an oil export pipeline from Kirkuk oil fields to Turkish borders, began the takeover of the Majnoon oil field from Royal Dutch Shell Plc and announced plans to invite international oil companies to develop energy fields in areas shared with Kuwait and Iran. — Bloomberg

Must-reads of 2017 come with some behavior lessons

By Cass R. Sunstein

IN 2017, hundreds of thousands of books were published in the United States alone. Many of them were terrific, and some were sensational (OK, I haven’t read all of them, not by a long shot, but still). Here are the five best:

THE ESSEX SERPENT
BY SARAH PERRY

Perry’s tale seems to focus on a search for a mysterious, otherworldly creature, but her novel is really about friendship, female independence, and longing. At its core is a romance, free of clichés, involving misses and near-misses, cluelessness, secrets, understanding and soulmates.

In most years, you can’t find a contemporary novel to put in the same company with the works of Jane Austen, Charles Dickens and Thomas Hardy. The Essex Serpent belongs right there.

THE RISE AND FALL OF D.O.D.O.
BY NEAL STEPHENSON AND NICOLE GALLAND

For many people, science fiction is literature’s pimply faced teenager: awkward, noisy, a bit of an embarrassment. But at its best, science fiction illuminates our world by looking at it sideways — presenting its most familiar features as puzzles, or demonstrating that with a little push here or a tug there, things could be radically different.

Stephenson and Galland start with a bold premise, to the effect that magic was once real but died out. More precisely, it died in 1850, when the rise of photography essentially murdered it. As one character puts it, “Photography breaks magic by embalming a specific moment — one version of reality — into a recorded image.”

That’s brilliant, and in a way, it’s even true. Stephenson and Galland breathe new life into old ideas about counterfactual history and time travel. That’s pretty magical.

RECKLESS DAUGHTER: A PORTRAIT OF JONI MITCHELL
BY DAVID YAFFE

Joni Mitchell belongs at or near the top of any list of the greatest singer-songwriters from 1960 to the present. She was astonishingly inventive. It is true, but not nearly enough, to say that she drew on folk, pop, and jazz. Her music is all her own.

Yaffe demonstrates that Mitchell’s mercurial life has been as bold, creative, and intriguing as her songs. He captures Mitchell’s love-hate relationship with what she called, in one of her early triumphs, an “urge for going” — and with a condition that she described, with both irony and defiance, as “busy being free.”

THE UNDOING PROJECT
BY MICHAEL LEWIS

Amos Tversky and Daniel Kahneman, Israeli psychologists, are more responsible than anyone else for the rise of behavioral science, which explores how human beings deviate from perfect rationality. Even so, the story of their collaboration would not appear to be a promising basis for a book. Who wants to read about two middle-aged men, patiently identifying behavioral biases and cataloging departures from expected utility theory? With equations?

But Lewis’s book is captivating, above all because he brings Tversky and Kahneman to life. Charismatic, quick and disciplined, Tversky was an optimist, not only because it suited his personality but also because, as he put it, “When you are a pessimist and the bad thing happens, you live it twice. Once when you worry about it, and the second time when it happens.” Introverted and self-critical, Kahneman was a pessimist and also a font of ideas, with extraordinary insight into where human intuition goes wrong.

The two had a kind of love affair. They produced extraordinary work independently, but their best work was done together. Lewis explains why.

THE INFLUENTIAL MIND
BY TALI SHAROT

If you want to influence people, what should you do? Sharot, a neuroscientist at University College London, demonstrates that many of our answers are wrong. If, for example, you try to frighten people, they might just tune you out. It’s better to try to get people to want to agree with you — which is why it is often more effective to promise a reward, creating a kind of “Go!” reaction in the brain.

One of Sharot’s most important discussions focuses on a topic to which social scientists have given far too little attention: the importance of maintaining a sense of control. John Locke, a character on the television show “Lost,” captured something universal when he proclaimed, time and again, “Don’t tell me what I can’t do!”

Sharot shows that once we understand the failure of so many of our efforts at influencing others, we can identify more promising strategies. For example, “Offering control, or even perceived control, is ultimately the best way to get people to act.”

Smart parents know that — and so do the best teachers, doctors, investment advisers, and employers.

 

BLOOMBERG

FDC amends terms of share swap deal for Pacific Sugar

FILINVEST Development Corp. (FDC) has amended the terms of its share swap deal with AL Gotianun, Inc. (ALGI) for the purchase of Pacific Sugar Holdings Corp. (PSHC), effectively prompting the latter to return 542.50 million FDC shares.

In a disclosure to the stock exchange on Tuesday, FDC said its board of directors has approved the partial rescission of the deed of exchange between the two parties signed last June 29, 2007. This involves ALGI’s return of 542.50 million shares to FDC priced at P3.91 billion.

ALGI will also be returning a total of 126.51 million shares released as stock dividends and P315.75 million in cash dividends to FDC, since the time of the agreement.

FDC purchased PSHC back in 2007, through a share swap deal where ALGI will receive 1.55 billion FDC shares in exchange for ALGI’s 1.55 million shares in PSHC.

PSHC is considered to be one of the major sugar producers in the country through its wholly owned units Cotabato Sugar Central Co., Inc. and Davao Sugar Central Co. FDC President Josephine Gotianun-Yap earlier said this would allow them to capitalize on the growth of the sugar industry.

The Gotianun-led firm said it decided to amend the agreement to adjust PSHC’s valuation in accordance with its future plans for growth.

“The partial rescission was made at the instance of management who saw the need and propriety to adjust the valuation of PSHC, taking into consideration the fact that the various projects that PSHC had planned to implement will no longer be pursued in the foreseeable future,” FDC said.

The company noted this amendment will benefit its minority shareholders.

“The partial return by ALGI of FDC shares to FDC will reduce ALGI’s shareholdings in FDC from the current 88.62% down to 87.74%. On the other hand, minority shareholders’ interest will increase from 10.08% to 10.86%,” according to FDC.

The agreement will further reduce FDC’s outstanding shares to 8.65 billion shares, from its current 9.32 billion shares, raising its earnings per share.

FDC grew its attributable profit by 17% to P4.81 billion in the first nine months of 2017, following an 18% increase in revenues to P42.53 billion. — Arra B. Francia

Shares seen sideways on 2017’s last trading days

THE MAIN INDEX will likely see thinner volume during the shortened trading week as foreign fund managers take a break for the holiday season.

The 30-member Philippine Stock Exchange index (PSEi) finished in the green last Friday, rising 0.64% or 54.03 points to 8,432.31, before taking a two-day break on Dec. 25 and 26 for the Christmas holidays.

“Local participants might dominate the week’s three-day trading session focusing mostly on second- and third-tier shares. Any weakness in select large-cap stocks would be a good window for players to move in, especially those with good stories to unfold next year,” online brokerage 2TradeAsia.com said in a weekly market note.

The online brokerage added that investors will be watching out for the capital expenditure (capex) programs of listed firms, as this would dictate their growth prospects in 2018.

Among the companies that have already announced their capex programs for 2018 are Metro Pacific Investments, Corp. (MPIC), Ayala Land, Inc. (ALI), and Aboitiz Equity Ventures, Inc. (AEV).

MPIC has set its spending for next year at P100 billion as it focuses to grow its tollroads, power, water, rail, hospital, and logistics businesses. For its part, property giant ALI disclosed that while it has yet to set the final figure, its capex could reach P100 billion in 2018 as they launch more residential projects, counting on the surge of demand for more housing developments.

Meanwhile, AEV will be trimming its capex to around P40-P50 billion in 2018, lower than the P77 billion it allotted this year, while still focusing on the growth of its power business.

As this will be the last week of trading for this year, analysts are already placing bets that the bellwether index could rally to breach the 9,000 mark next year.

First Grade Finance, Inc. Managing Director Astro C. del Castillo noted that this could come on the back of the Tax Reform for Acceleration and Inclusion (TRAIN) Act signed by President Rodrigo R. Duterte earlier this month.

“The political will of the president in getting the necessary legislations passed will help push investor sentiment up, and easily push the index toward the 9,000 level in 2018,” Mr. Del Castillo said in an interview last week.

Changes in the country’s tax program will be implemented come Jan. 1 as part of the first of five packages under TRAIN.

“As the news gets finally absorbed, anticipate some fund managers to lock in on rallies, until the net benefit of the sector gets known,” 2TradeAsia.com said.

Analysts pegged the market’s immediate support within the range of 8,370 to 8,400, with resistance from 8,500 to 8,570.

Meanwhile, Wall Street’s major indexes dipped on Friday in low trading volume before the holiday weekend as several blue-chip stocks slipped, including Nike.

President Donald J. Trump signed a massive $1.5-trillion tax overhaul into law on Friday and also approved a short-term spending bill that averts a possible government shutdown. — A.B. Francia with Reuters

Davao Region focused on boosting output of cacao, coffee, coconut crops

By Carmelito Q. Francisco,
Correspondent

DAVAO CITY — The Department of Trade and Industry in the Davao Region is focusing on developing cacao, coffee and coconut next year via the provision of about P34 million in shared-service facilities.

The agency’s regional director, Maria Belenda Q. Ambi, said last week that these facilities will focus on improving the marketability of the crops.

“(The projects) are still subject to review,” Ms. Ambi said, noting that 2018 funding is  about the same as the levels in 2015, the last time its budget was raised by the national office.

This year, the agency was able to fund P1.22 million in shared-service facilities, which were focused on dairy production in the city and virgin coconut oil in Compostela Valley.

The provision of shared-service facilities hopes to enhance the output of micro, small and medium enterprises and to make their products more competitive. A facility is provided to a group of producers to maximize its use.

In the cacao industry, the city government is hoping to build on the gains made by Davao products on the international market. Davao City Mayor Sara Z. Duterte-Carpio has set aside P2 million to fund the cacao production program of the city government.

“We have exponentially grown our economy since the discovery of our potential to produce cacao and chocolate products. As we can supply at least 80% of our country’s total cacao demand, Davao Region is now moving towards becoming the Chocolate Capital of the Philippines,” said Ms. Duterte as the city government opened a cacao outlet at its Pasalubong Center.

According to the Philippine Statistics Authority, the region produced 5,073.83 metric tons last year out of the 6,262.77 metric-ton national total.

The strategy of the industry, said Valente D. Turtur, Cacao Industry Development Association of Mindanao, Inc. executive director, is to improve production with buyers seeking more volume.

To do this, cacao producers — about 20,000 farmers in the region — need to plant high-yielding quality seedlings, he added.

Coffee industry stakeholders have urged producers to focus on producing the so-called specialty coffee as well as enhance the quality of the beans.

In late October, Pacita U. Juan, president of the Philippine Coffee Board, said that the government must help provide facilities to enhance the quality of the crop.

Ms. Juan said the easiest way to do this is to allow coffee producers to tap the research and development facilities of state universities.

The coconut industry, on the other hand, has also been pushing for the establishment of facilities that will help coconut growers in the development of high-value products.

Migdonio C. Clamor, Jr., Davao Region Coconut Industry Cluster executive director, earlier said that aside from rehabilitating coconut farms, there is also a need to help farmers add value to their products and not rely on copra.

Mr. Clamor said that some producers have abandoned copra production by selling whole nuts, saving on labor costs. A few of them, on the other hand, have ventured into producing coconut textiles, sugar both from sap and shell and other similar products.

He said a community in Pantukan, Compostela Valley has started producing these items in small quantities. “They will still need assistance so they could bring their production to commercial quantities,” he said.

Bragging rights

LeBron James was exceedingly gracious in the aftermath of a Christmas Day defeat that brought back bitter memories of the 2017 National Basketball Association Finals. He talked about certified game-changer Kevin Durant in glowing terms; “He’s one of the leaders in shot blocks a game. He had five tonight so he’s been doing a heck of a job of taking the individual matchup and protecting the rim, too,” the four-time league Most Valuable Player noted of the Cavaliers’ biggest thorn during their bridesmaid finish and through yesterday’s set-to.

Significantly, James could have lamented the spotty officiating that marred the highly anticipated contest. On at least two occasions in the crunch, he was fouled by the very player he praised; the armbar contact with 24 and a half ticks left in the match was particularly unsettling, as it turned what should have been a certain dunk into a turnover. And just like that, a one-point deficit turned into five, and the Cavaliers were done. Instead, he willingly gave Durant — with whom he exchanged pleasantries after the buzzer — props, in no small measure because he understood that he outcome was determined by a confluence of self-injurious events.

Given how James was amped for the occasion, he will, no doubt, lament his underwhelming showing; he went below his season averages across the board, with his seven turnovers glaringly making the Cavaliers’ uphill battle all the more Sisyphean in nature. Against the Warriors, whose chances of winning were pegged heading into the home stand to be anywhere between 75% and 90%, not taking care of the rock is fatal. And it certainly didn’t help that the visitors shot an atrocious 31.8% from the field.

Three weeks from now, the Cavaliers will try to return the favor at the Q. As with yesterday’s encounter, the upcoming one will not make or break their title hopes. James knows it, but couldn’t care less. At this point, and with the setback still fresh, bragging rights will be all that’s in his mind. He needs to pay the Warriors back. More importantly, he needs to pay Durant back. His body of work in his 15th year indicates that he’s as good as he has ever been, and he’s bent on showing it.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is the Senior Vice-President and General Manager of Basic Energy Corp.