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Pistons’ offseason

This time last week, Pistons head coach Stan Van Gundy was more or less resigned to an early offseason. They had just won against the Lakers, improving their slate to five and one over their last six outings, but they remained well off the pace for the last spot in the playoffs. It remained a possibility, to be sure, but they needed to both run the table and see the Heat and/or Bucks experience a swoon the rest of the way. And so he stayed grounded while focusing on the positives. If nothing else, he saw in their modest run the potential of his Big Three. “I don’t know if we’re going to see all of it in these last two weeks, but I know that with Reggie [Jackson], Blake [Griffin], and Andre [Drummond], we have the pieces to be really good,” he argued.
As things turned out, “all of it” was a pipe dream. A right ankle injury made Griffin a scratch in the Pistons’ next outing. And the next. And the next. And considering how the description of the five-time All-Star’s ailment changed game to game from “contusion” to “sprain” to “bruise,” it’s anybody’s guess as to when he can and will return to action. To their credit, though, they’ve kept their momentum going. Yesterday’s victory against the Nets was their fifth straight, and, with five matches left on their calendar, they remain in contention for a postseason berth, albeit barely.
The key to their success? The return of Jackson from, coincidentally, a right ankle injury that hitherto compelled him to miss 37 outings. His elbow screen-and-roll action with Drummond had been propelling their offense prior to his sidelining, and it has again done the same through the last one and a half weeks. Yesterday, for instance, they combined for 42 points, never mind that the Big Penguin was ejected close to the end of the third quarter. And in the little that they’ve shared the court with Griffin, they’ve shown promise, hence Van Gundy’s bright outlook.
At this point, the Pistons aren’t likely to make the playoffs, whether or not Drummond gets suspended in their next game, and whether or not Griffin is able to suit up anytime soon. Among the obstacles on tap are the Sixers (who are angling for the third seed currently occupied by the Cavaliers) in two days and the Raptors (who want to hold off the Celtics for the top spot in the East) next week. And even assuming they sweep their remaining contests, their fate depends on a confluence of other events that need to go in their favor. In other words, they’re left to compete for pride and, in the process, wonder what could have been.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Customs beats March revenue target

THE BUREAU of Customs (BoC) revenues grew by a fifth in March to beat its target with the help of the majority of its ports outside Manila, it said in a statement on Monday, April 2.
“Based on the initial report from the BoC Financial Service, a total of P45.398 billion revenue was collected, exceeding the P45.133 billion target for the month of March by P265 million,” Commissioner Isidro S. Lapena was quoted in a statement as saying.
The March take was 19.1% greater than the P38.11 billion collected in the same month last year.
The BoC said that 12 of its 17 ports exceeded their revenue targets, despite having two non-working holidays last month.
The Port of Batangas collected P11.542 billion, exceeding its P10.449 billion target by 10.5%. This was followed by the Limay port recording P2.896 billion in revenues, surpassing the P2.746 billion goal by 5.5%, and the Cebu port collecting P2.189 billion, 7.6% higher than the P2.034 billion target.
Also among BoC ports that exceeded its targets include:

• The Port of Davao, collecting P1.755 billion, 21.1% over its target;
• The Port of Subic, collecting P1.655 billion, 1.9% over its target;
• The Port of Cagayan de Oro, collecting P1.625 billion, 27.4% over its target;
• The Port of San Fernando, collecting P278 million, 13% over its target;
• The Port of Clark, collecting P154 million, 29.8% over its target;
• The Port of Tacloban, collecting P68 million, 241.6% over its target;
• The Port of Legaspi, collecting P22.10 million, 0.5% over its target;
• The Port of Surigao, collecting P4 million, 262.7% over its target and the;
• Port of Aparri, collecting P6 million, 37.5% over its target.

Meanwhile, the ports which failed to hit the target are:

• The Port of Manila, collecting P5.776 billion, missing its target by 14.9%;
• The Manila International Container Port, collecting P12.625 billion, missing its target by 9.28%;
• The Ninoy Aquino International Airport, collecting P3.094 billion, missing its target by 25.9%;
• The Port of Iloilo, collecting P176 million, missing its target by 27.8%, and the;
• Port of Zamboanga, collecting P700,000, missing its target by 96%.

“Following this development, the district collectors of these ports and others concerned will be eventually replaced in compliance to the earlier directive that district collectors, deputy collectors for assessment, chief of Formal Entry Division, examiners, appraisers, and other BOC personnel performing assessment functions will be relieved,” the bureau said.
The BoC is tasked to collect P637.1 billion this year, 39.05% higher than the actual P458.18 billion recorded in 2017. — Elijah Joseph C. Tubayan

Fuel prices to go up this week

GASOLINE, diesel and kerosene prices will increase this week, oil companies said on Monday, April 2, pointing to the movement of prices in the international market.
Gasoline will rise by P0.90 per liter, while diesel and kerosene will both increase by P1.00 per liter. The price adjustment will take place at 6:00 a.m. on Tuesday, April 3, 2017, the companies said.
For gasoline and diesel, this week’s increase is slightly lower than the previous week’s when they increased by P1.15 and P1.10 per liter, respectively. Kerosene last week rose by P1.00 per liter.
Separately, Eastern Petroleum Corp. said on Monday that it had decided not to adjust the price of its EC Gas liquefied petroleum gas (LPG) this month. It said the move was the second time that the company had opted to reflect a bigger reduction or absorb the adjustment in the international price of LPG.
To date, the net reduction in EC Gas LPG amounts to P4.45 per kilogram, the company said.
On Sunday, Petron Corp. increased its LPG price by P0.25 per kilogram and its autoLPG by P0.15 per liter to reflect the movements in the international contract prices of LPG for this month. — Victor V. Saulon

Stocks rise on positive US economic data

STOCKS opened the second quarter on a positive note, trekking higher on the back of positive economic data from the United States amid thinner trading.

The 30-member Philippine Stock Exchange index rose 0.75% or 59.62 points to finish at 8,039.45 on Monday, April 2. The broader all-shares index likewise climbed 0.6% or 28.99 points to 4,869.55.

“It was up after the economic data coming out from the US on consumer spending. It was lower than the estimate, thereby resulting in the US treasury yields going down to lower than 2.75. This is indicative that aggressive rates increase by the US Fed (Federal Reserve) is still far-fetched,” Diversified Securities, Inc. equities trader Aniceto K. Pangan said by phone.

Mr. Pangan noted that the easing concern for higher interest rates in the US will creative positive sentiment in emerging markets such as the Philippines.

Four sectoral indices moved to positive territory, led by holding firms with a 1.62% uptick or 126.78 points to 7,965.87. The mining and oil counter jumped 1.49% or 162.58 points to 11,049.51; property gained 0.96% or 35.12 points to 3,681.97; while industrial added 0.39% or 44.72 points to 11,474.37.

On the other hand, services dropped 0.34% or 5.68 points to 1,666.14, alongside financials that gave up 0.33% or 6.97 points to 2,082.70.

Some 1.59 billion issues switched hands, valued at P4.55 billion, significantly lower than the P7.82-billion turnover in the previous session. Analysts attributed the day’s thin trading to the absence of investors who are only just returning from the Lenten break.

Advancers prevailed for the day, with 131 against 81 that declined and 36 that closed flat. Net foreign outflows dipped to P625.3 million on Monday, lower than the P1.12-billion in the previous session.

Twelve of the 20 most actively traded stocks saw gains, with Now Corp. soaring 12.33% to P9.20 each. MRC Allied Corp. also gained 6.9% to 62 centavos each, while SM Investments Corp. added 3.05% to P945 each. — Arra B. Francia

Manila to anywhere, without traffic

Taking to the skies with PhilJets.

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Porsche Panamera, in Sport Turismo shooting-brake form, is made for road trips.

At your service

No request is too ridiculous when it comes to hospitality at these hotels (provided you can pay).

Favorite Things | No passport, will travel

AirAsia Chair Marianne B. Hontiveros recalls the time she flew from Frankfurt to Manila sans documents.

Boating paradise

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Dominguez urges Swiss investors to invest in the Philippines

THE DEPARTMENT of Finance (DoF) has invited Swiss businessmen to set up shop in the Philippines as the Duterte administration pursues more reforms to streamline investment amid its wide consumer base.
“We hope Swiss businesses could find a home here — a happy one. We are working very hard to improve the ease of doing business and reducing our (Foreign) Investment Negative List to the bare minimum. From being mocked as ‘The Sick Man of Asia,’ the Philippines is now seen as the region’s next economic powerhouse,” Finance Secretary Carlos G. Dominguez III said during March 6 meeting with members of the Philippine-Swiss Business Council.
He said the Philippines’ “young and talented labor force, our large consumer market and our determined participation in building a Southeast Asian common market produce much headroom for sustainable growth.” — Elijah Joseph C. Tubayan

Travel in style

An ambassador. A member of retail royalty. A sometime-actress, artist, and senator’s spouse.

Philippines’ factory activity improves in March

FACTORY ACTIVITY in the Philippines improved last month despite higher input costs and selling prices due to the tax reform law that took effect on Jan. 1, according to an IHS Markit survey conducted for Nikkei.

The Philippines’ Nikkei Manufacturing Purchasing Managers’ Index (PMI) grew to 51.5 in March from 50.8 in February on output, new order, and export growth.

The first quarter average however was the lowest since the survey started in 2016.

The Philippines placed third among select Association of Southeast Asian Nations member-states, an improvement from placing fifth in February, but was overtaken by Myanmar and Vietnam’s 53.7 and 51.6, respectively.

“Growth in the Philippines manufacturing sector accelerated into the end of the first quarter. Faster rises in output and new business boosted the headline PMI, while a slower fall in employment was seen,” the report read.

“The stronger upturn saw business expectations improve, with optimism at an eight-month high. This encouraged firms to scale up purchasing activity and build-up inventories,” it added.

The report also noted that the new excise taxes “continued to push up inflationary pressures during March,” that led input costs and selling prices to climb “the highest in the survey history.” — Elijah Joseph C. Tubayan