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Sixers await Fultz

When Markelle Fultz treks to the TD Garden today, he will be looking to make a statement. After having spent most of his rookie season on the injured list, he’s bent on showing all and sundry why the Sixers chose him Number One overall in last year’s draft. And all eyes will be on him, especially after he went through a bizarre process of convalescence from a muscle imbalance on his shoulder; en route, he saw fit to change the shooting motion that made him a deadly scorer in college, leading him to become tentative and, more importantly, inaccurate in the games he managed to play in red, white, and blue.
Clearly, though, the Sixers haven’t given up on Fultz. In fact, they consider him an integral part of their future, and to the point of breaking up the most productive lineup in the National Basketball Association. Indeed, he will be going up against the Celtics today from opening tip, in the process relegating erstwhile starting two guard JJ Redick to the bench. And, as far as he’s concerned, the promotion from a veritable scrub who posted “Did Not Play — Coach’s Decision” lines on all but three Box Scores in the 2018 Playoffs to vital cog reflects the extent of his recovery.
How much Fultz has truly improved from his time with basketball’s equivalent of the yips remains to be seen. He didn’t exactly have an outstanding preseason; he posted below-average norms on three-point and overall shooting, as much an indication as any that he’s still a work in progress. And that’s just fine with the Sixers — for as long as he’s on the uptick. They’re patient and prudent, a stance strengthened during Sam Hinkie’s controversial tenure as general manager and head of hoops operations.
How patient and prudent fans are, however, remain to be seen. Denizens of the City of Brotherly Love have normally been anything other than forgiving, but they’ve cut the Sixers an extraordinary amount of slack in recent memory. Still, they’re not wrong to believe that they’re finally entitled to reap the dividends of their waiting, what with all-world talents Joel Embiid and Ben Simmons in the pink of health. And, creditably, Fultz wants them to include him in their heightened expectations.
In this regard, it’s but only fitting that Fultz will formally accept his place under the klieg lights in a match against the Celtics, whom the Sixers regard as their rivals — not just historically, but in the years to come. They’ve decided that they need him at his best if they’re to succeed with consistency, versus the acknowledged East giants and versus other members of the league elite. He’s most certainly willing. Needless to say, he has to be ready and able as well.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Shares up on last-minute buying, lower outflows

By Arra B. Francia, Reporter
SHARES CLIMBED on Tuesday, saved by last-minute buying and minimal foreign outflow compared to previous weeks.
The 30-company Philippine Stock Exchange index (PSEi) gained 0.87% or 60.51 points to 6,987.02, managing to post gains amid muted trading for most of the session. The broader all-shares index likewise rose 0.3% or 13.13 points to 4,289.71.
“The market remained mostly subdued the entire day, moving sideways, until finally surging in the last few minutes to end 60.51 points higher at 6,987.02. The lower net foreign selling of only P223 million today (from figures above P700 million the past three days) may have contributed to the day’s gain,” Papa Securities Corp. trader Gabriel Jose F. Perez said in an e-mail on Tuesday.
Net foreign outflows slimmed to P223.54 million on Tuesday from net sales of P738 million recorded on Monday. This marks the 34th straight session of net foreign outflows since Aug. 30.
The main index was trading mostly in the negative at the start of the day, tracking the sell-off seen in international markets as the United States’ row with Saudi Arabia came into focus.
“It was another uneventful trading session where value turnover was only [P5 billion], but the PSEi managed to finish in the green as focus shifted to developments between the US and Saudi Arabia,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message.
Tensions between the US and Saudi Arabi persisted as the disappearance of Saudi journalist Jamal Khashoggi remained unsolved. Market participants are cautious on how this could impact oil prices.
With this, the Dow Jones Industrial Average dropped 0.35% or 89.44 points to 25,250.55. The S&P 500 index slumped 0.59% or 16.34 points to 2,750.79, while the Nasdaq Composite index shed 0.88% or 66.15 points to 7,430.74.
Asian indices meanwhile ended mixed, dragged by negative sentiment on Wall Street.
Back home, all sectoral indices moved to positive territory, led by industrials which jumped 1.47% or 153.23 points to 10,547.31. Property went up 1.09% or 37.98 points to 3,498.91; mining and oil gained 1.03% or 91.40 points to 8,888.05; financials rose 0.9% or 13.90 points to 1,558.70; services added 0.39% or 5.87 points to 1,477.71; while holding firms increased 0.12% or 8.25 points to 6,742.34.
Value turnover inched up to P4.75 billion after some 425.55 million issues switched hands, compared to Monday’s P4.40 billion.
Market breadth favored advancers versus decliners, 100 to 83, while 51 names ended flat.
Papa Securities’ Mr. Perez advised investors to remain on the lookout for US markets, pegging the main index’s support at 6,790 and initial resistance at 7,130.

Peso rises to one-month high

THE PESO strengthened to a one-month high on Tuesday as the dollar weakened due to lower-than-expected US retail data and negative sentiment at Wall Street.
The local currency ended Tuesday’s session at P53.96 versus the greenback, 12 centavos stronger than the P54.08-per-dollar finish the previous day.
This was the peso’s best showing in more than a month or since it closed at P53.94 versus the dollar on Sept. 11.
The peso opened the session stronger at P54.03 per US currency, strengthening to its best showing of P53.96, which was yesterday’s closing rate. Its intraday low, on the other hand, was at P54.09 against the greenback.
Trading volume climbed to $777.8 million from the $528.9 million that switched hands the previous session.
A trader said the peso ended stronger as it reflected the weaker dollar overnight due to the weak US retail sales report.
The US Commerce Department reported on Monday that retail sales barely rose in September as a rebound in motor vehicle purchases was offset by a drop in restaurant and bar spending, Reuters reported.
“Intraday, we saw the peso [weaken] to P54.09 as the dollar bounced back in Asia,” the trader added, noting the peso recovered to close at its intraday high “further aggravated by foreign selling.”
Meanwhile, Rizal Commercial Banking Corp. economist Michael L. Ricafort said the dollar declined recently against major currencies after the US stock markets dropped to two- to three-month lows.
“Decline in global crude oil prices to three-week lows, which was down by more than $5 from the highs, also supported the latest gains in the peso as this would reduce the country’s oil import bill as well as narrow the trade deficit,” Mr. Ricafort added.
Ruben Carlo O. Asuncion, chief economist at UnionBank of the Philippines, said the peso has been strengthening since the local central bank hiked its interest rates.
“It seems that the general perception about inflation is that the peak has already been reached,” Mr. Asuncion said in a text message.
For Wednesday, he expects the peso to trade between P53.70 and P54, while the trader gave a P53.90-P54.10 range. — Karl Angelo N. Vidal

Vice-President, Senate leader keep steady ratings in Q3 SWS poll

THE country’s top officials, apart from President Rodrigo R. Duterte, remained at their steady ratings in the latest poll by the Social Weather Stations.
The Third Quarter 2018 Social Weather Survey, conducted September 15-23, found 57% satisfied and 23% dissatisfied with the performance of Vice-President Maria Leonor G. Robredo, which led to a net satisfaction rating (% satisfied minus % dissatisfied) of “good” +34, up two points from Ms. Robredo’s +32 in June.
Ms. Robredo’s two-point improvement was due to increases of 9 points in Metro Manila, 8 points in Mindanao, and 2 points in Balance Luzon, combined with an 11-point decline in the Visayas.
Also in the poll, 68% were satisfied and 13% were dissatisfied with Senate President Vicente C. Sotto III, leading to his net satisfaction rating of “very good” +55, , up by 1 point from +54 in June.
Mr. Sotto’s net satisfaction rating rose 6 points in Balance Luzon and 3 points in Mindanao, but fell 4 points in the Visayas and 11 points in Metro Manila.
In her first rating as House Speaker, Gloria Macapagal-Arroyo had a “neutral” -4 (34% satisfied and 38% dissatisfied). Her net satisfaction was highest in the Visayas at “neutral” +8, followed by Mindanao at “neutral” -3, Balance Luzon at “neutral” -4, and Metro Manila at “poor” -25.
Chief Justice Teresita De Castro’s overall net satisfaction rating was a “neutral” +4 (33% satisfied and 29% dissatisfied). It was “neutral” in all areas and highest in Balance Luzon at +9, followed by Visayas at +5, Mindanao at +2, and Metro Manila at -7.
The noncommissioned survey was conducted using face-to-face interviews of 1,500 adults (18 years old and above) nationwide: 600 in Balance Luzon, and 300 each in Metro Manila, Visayas, and Mindanao (sampling error margins of ±3% for national percentages, ±4% for Balance Luzon, and ±6% each for Metro Manila, Visayas, and Mindanao).

Ex-senators rejoin senatorial arena

FORMER SENATORS seeking to return to the Senate were among those who filed their certificates of candidacy (CoCs) at the Commission on Elections on Tuesday, the fourth of a five-day period for the filing of candidacies which ends today, Wednesday.
Former senators Manuel “Mar” A. Roxas II, Pilar Juliana “Pia” S. Cayetano, Jose Pimentel “Jinggoy” Ejercito Estrada Jr. and Juan F. Ponce-Enrile, a former Senate president, were among those who turned up at the Comelec to file their CoCs on Tuesday.
Mr. Roxas said, “Lahat ng mga public servant nais na matulong sa kapakanan ng ating mga kababayan. Para sa akin, bagaman mahirap talaga ang desisyon na ito dahil nagsimula na ang bagong chapter sa buhay kosa katahimikan ng family life, nakita ko na maraming hirap pa rin,” he said. (All public servants aim to help the lives of our countrymen. For me, although it was a hard decision because a new chapter in my life just started — the peace of family life — I see that many are still in need.)
Ms. Cayetano said she biked from Luneta or kilometer zero to the Comelec headquarters in Intramuros because it symbolizes her journey to the Senate. She said, “Zero is the marking point that is used to find (the) distance of Luzon, Visayas, and Mindanao, and as a senator, having had that experience for the last 12 years, I either hike, bike, climb mountains to reach Filipinos in the far-flung areas if given a chance to return to the Senate.”
Mr. Estrada went to the Comelec accompanied by his father, former president and currently Manila Mayor Joseph “Erap” Ejercito Estrada. His half-brother, reelectionist Senator Joseph Victor G. Ejercito, filed his CoC last Monday.
Former Senate president Juan Ponce F. Enrile, who announced his retirement in 2016, returned to the senatorial arena on Tuesday with his lawyer Joseph B. Sagandoy filing his CoC at the Comelec.
Senatorial hopeful Ilocos Governor Maria Imelda Josefa “Imee” R. Marcos filed her CoC, finding herself in the company of senatorial aspirant and Free Legal Assistance group (FLAG) chairman Jose Manuel “Chel” I. Diokno.
Mr. Diokno’s father, the late Senator Jose W. Diokno, was a political prisoner of Ms. Marcos’s father, the late dictator Ferdinand E. Marcos.
He said that there is no denying what the Marcoses have done in the past.
Ms. Marcos said in a press briefing, “Nakailang beses na rin ako mag-apologize sa kung sino man ang nasaktan sa hindi inaasahang pangyayari,” she said. (I’ve apologized how many times to whoever was hurt in events that we did not expect to happen.)
She added: “Kung ang inaasahan ay admission, hindi po pwede ito. Bakit kami mag-a-admit sa hindi namin ginagawa?” (If an admission is hoped for, this cannot be. Why will we admit to what we didn’t do?)
Reelectionist Senator Paolo Benigno A. Aquino IV also filed his CoC on Tuesday.
For his part, Armed Forces of the Philippines Chief-of-Staff Carlito G. Galvez Jr. said on Tuesday that armed groups and gun-for-hire syndicates are considered the biggest threats to next year’s midterm elections.
“Ang nakikita namin ay yung political armed groups at gun-for-hire in order to eliminate opposition (We see political armed groups and gun-for-hire syndicates as threats in order to eliminate opposition),” Mr. Galvez said in his press briefing Tuesday. — Gillian M. Cortez and Vince Angelo C. Ferreras

Suspected ISIS commander deported

THE Bureau of Immigration (BI) deported a suspected former commander of the terrorist group Islamic State of Iraq and Syria (ISIS) on Oct. 6 for violation of the Philippine Immigration Act.
In a statement, BI Commissioner Jaime H. Morente said the alleged ISIS commander, Egyptian national Fehmi Lassoued, 33, was deported following his order on Sept. 6. Mr. Lassoued remains included in the BI blacklist.
“The arrest and subsequent deportation of Lassoued is definitely a big accomplishment of the Bureau. We have strengthened our Anti-Terrorist Group, which actively coordinates with local and foreign counterparts to ensure that we keep our country safe from these foreign terrorists,” Mr. Morente said.
The BI said complaints were filed against Lassoued and his Filipino companion upon their arrest in February by the Philippine National Police and Philippine Army. Allegedly found in Lassoued’s possession were a gun, several improvised explosive devices, an ISIS flag, and maps with drawings of the terrorist group’s alleged operational plans.
The complaints, however, were dismissed in March due to insufficiency of evidence. Nevertheless, the suspect was still deported for submitting false information in his application for a working visa and for using an altered Tunisian passport.
An official of the BI Anti-Terrorist group also disclosed that Mr. Lassoued’s declared employer in his working visa is “fictitious.”
He also has several aliases including Haytham/Haytam Abdulhamid Yusof, Haitam Abdel Hamid Ahmed Youssef, and Youssef Haitham Abdelhamid. — Vann Marlo M. Villegas

Nationwide round-up

Duterte still ‘open to reconciliation’ with Reds, says Panelo

PRESIDENT RODRIGO R. Duterte, despite the suspended peace talks with the country’s communist groups, is still “open to reconciliation,” according to Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo. “Definitely the President always — his mind is always open to reconciliation. As he said, hindi pupuwedeng tayong mga Pilipino ang nagpapatayan (it should not be that Filipinos are killing fellow Filipinos),” Mr. Panelo said in a press briefing at the Palace on Tuesday, Oct. 16. He stressed, however, that resuming the peace negotiation is not yet possible at this time as members of the communist panel have failed to abide by agreed terms in previous talks. He said the President feels there is no sincerity on the part of the communist leaders. On the possible destabilization plot in December, Mr. Panelo said, “Most likely. But you know, hindi naman ako magtataka na palaging mayroon (I am not surprised that there is always a) plot, because that is precisely the rationale of the creation of the Communist Party of the Philippines, to oust the present government… Eh 50 years na nilang pinaplano pero so far nabibigo naman sila (They have been planning in the last 50 years, so far, they have failed).” — Arjay L. Balinbin

Panelo defends melee in Go COC filing

MALACAÑANG ON Tuesday defended former special assistant to the President Christopher Lawrence T. Go for violating the Commission on Elections’ (Comelec) ‘four-companion only’ rule when he filed his certificate of candidacy (COC) last Monday, accompanied by President Rodrigo R. Duterte himself and other top administration members. Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo, in a press briefing at the Palace, initially blamed the Comelec saying it should have “anticipated” such situations. Mr. Panelo then backtracked, “…eh biglang dumating ang Presidente (well, the President suddenly arrived). So I think, you cannot blame any side.” He also denied that Mr. Duterte was “using the government resources” when he escorted his former aide to the Comelec. He said the President, “as a citizen of this country, has the right to endorse and to make a choice kung sinong tutulungan niya (as to whom he will support).” — Arjay L. Balinbin

De Lima asks judge to inhibit from her case

THE CAMP of Senator Leila M. De Lima has asked Muntinlupa Regional Trial Court Branch 206 Judge Lorna Navarro-Domingo to inhibit herself from the drug case against the legislator due to her “manifest bias, partiality and acts of prejudgment” during the trial. In a motion for prohibition submitted on Monday, Ms. De Lima’s camp cited the instances wherein Ms. Domingo prematurely ruled against the senator on the motions filed during the course of the trial. These actions, according to the senator’s camp, have violated Ms. De Lima’s right to due process. The motion will be submitted for consideration and resolution on Oct. 23. Ms. De Lima has previously sought the inhibition of another Muntinlupa RTC judge, Juanita Guerrero of Branch 54, last year, citing partiality as well. Earlier this year, Ms. Guerrero has inhibited herself from the case. — Camille A. Aguinaldo

Suspect nabbed for ATM, credit card fraud

THE NATIONAL Bureau of Investigation (NBI) Cyber Crime Division has arrested an individual for fraudulent use and illegal production of ATM and credit cards, and is now tracking others involved in the operation.
The suspect, identified as Gerard Joseph Liwag, was arrested on Oct. 9 at a condominium within the Bonifacio Global City. He is facing charges for violation of R.A. 8484 (Access Device Regulation Act of 1998) in relation to R.A. 10175 or the Cyber Crime Prevention Act of 2012.
The NBI, in a statement released yesterday, said the case stemmed from a complaint from a “big commercial bank.”
It also received information that an organized syndicate, which targets malls and casinos in Metro Manila and Metro Cebu, is behind the fraud.
The NBI further stated that the “modus operandi of the group is to secure information and credit card details through call centers and other business establishment skimmers.”
Ferdinand M. Lavin, Forensic Investigation Service deputy director, said that only the information are stolen and Mr. Liwag manufactures the cards.
“So these are not stolen cards. All the information are stolen from legit cards and transferred to blank cards and would make it appear as legit card,” he said.
Seized in the suspect’s condominium unit were HITI card printer, embossing machine, Fargo high definition printer, removable storage device, skimming device, laptops, point-of-sale card terminal, HUB (A4 Tech), Java blank cards, and eighty pieces of various cards. Also discovered were several identification cards, including passports.
Cyber Crime Division Chief Victor V. Lorenzo said Mr. Liwag has been operating for five years and it could be one of the biggest card fraud operations in the country.
Mr. Lavin noted that the suspect’s equipment are far more sophisticated compared with other busted fraud operations in the past.
Mr. Liwag was presented to the Department of Justice on Oct. 10 for inquest proceedings.
The following day, seven commercial banks issued certificates that he is not authorized to produce debit, credit, and other cards. — Vann Marlo M. Villegas

Boracay coliform level down to 18 from ‘thousands, millions’

ENVIRONMENT SECRETARY Roy A. Cimatu reported that the coliform level in Boracay is now at 18.1 most probable number (MPN) per 100 milliliter (ml), significantly down from the “thousands or even millions” level prior to the closing of the island in April. “As you may have observed, there has been not only a visible improvement in water quality. Tests done by the EMB (Environmental Management Bureau) revealed that the coliform level is now down to 18.1 MPN per 100 ml,” Mr. Cimatu said in a statement on Tuesday. Coliform is a class of bacteria found in the environment, including human and animal feces. The standard coliform level is 100 MPN/100 ml. The government started a dry run on the island on Oct. 15, 11 days before Boracay officially reopens on Oct. 26. “The point of the dry-run is to ensure that everything will run smoothly during the soft opening on Oct. 26, We will only see the effects and results of all these interventions on the third day after tourist arrivals,” Mr. Cimatu said. He added that only 6,405 tourists per day will be allowed and a total of 1,000 rooms from accredited hotels will be available for booking during the dry-run. — Reicelene Joy N. Ignacio

Power poles

A team from the Lanao del Sur Electric Cooperative, Inc. (Lasureco) have started going around the most affected areas (MAA) of Marawi City to retrieve steel poles and other materials that can still be used for the reconstruction efforts. Lasureco, in a post on its official Facebook page, said most of its infrastructure in the MAA “were gone and had become inoperative” after last year’s five-month heavy fire fight between government troops and local extremist groups allied with the Islamic State.

Dialogue on future of ARMM workers set Oct. 17; Hataman files COC for Basilan lone district rep

A FORUM is set on Oct. 17 to discuss the future of the employees of the Autonomous Region in Muslim Mindanao (ARMM) as part of the preparations for the transition into the Bangsamoro ARMM (BARMM). The dialogue, to be held at the ARMM compound in Cotabato City, is organized by the peace implementing panels of the government and the Moro Islamic Liberation Front, and the ARMM government. The BARMM will replace the ARMM after the plebiscite in January on Republic Act 11054, the new Bangsamoro Organic Law. Commissioner Jose I. Lorena of the Bangsamoro Transition Commission and representatives of various national government agencies involved in the implementation of the law will be part of the discussion.
HATAMAN
Meanwhile, ARMM Governor Mujiv S. Hataman filed his certificate of candidacy on Tuesday for House representative of the lone district of Basilan, his home province. “We are happy to go back to our hometown to serve once again. It was a challenging but meaningful task to lead and reform ARMM for almost 7 years, especially now that the Bangsamoro Organic Law is in place,” Mr. Hataman said in a message to BusinessWorld.

US pours in another P1.35B for Marawi program

THE UNITED STATES government is rolling out a P1.35 billion program to help residents of Marawi City who were directly affected by last year’s siege, US Ambassador to the Philippines Sung Y. Kim announced yesterday during a visit to the devastated city. The Marawi Response Project, a three-year program to be implemented by the US Agency for International Development (USAID), will focus on improving economic and social conditions, through micro loan grants, among other components. “The U.S. government shares the concern of the Philippine government for ongoing economic, social, health, and education needs of the people of Marawi and neighboring municipalities,” Mr. Kim said. The US envoy also announced the launch of the Empowering Madrasa Educator 2 program, valued at P12.7 million, which is another round of a training program for Madrasa educators and administrators.

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