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Team Korea is first-ever Arena of Valor World Cup champion

THE first ever Arena of Valor World Cup concluded last weekend with Team Korea going away as the champion after beating Team Thailand, 4-3. For winning the championship, Team Korea took home $200,000 in prize money of the $550,000 prize pool, the biggest in mobile eSports history. Team Korea was comprised of Chaser, Rush, Hak, Sun, JJak, and their coach Rn. Rush was named most valuable player of the tournament which took place in California, USA.

AFC Asian Cup tickets now on sale

TICKETS are now on sale to football fans in the Philippines for the AFC Asian Cup UAE 2019 TM, the biggest sporting event ever hosted in the Middle East. The expanded competition takes place across eight world-class stadiums in the UAE from Jan. 5-Feb. 1, 2019 and will see the Philippines compete in Group C against China, South Korea and Kyrgyzstan in their opening three games of the tournament. The Philippine Azkals qualified for the first time with their come-from-behind 2-1 victory over Tajikistan last March.

One-month mark

Free agency in the National Basketball Association (NBA) has reached the one-month mark and so far it has been eventful, marked, among other things, by weighty player movements.
One of the first to take place was that involving superstar and legend LeBron James to the Los Angeles Lakers after four fruitful years back in Cleveland that saw him lead the Cavaliers to an NBA title in 2016.
A lot of talk already circulated that “The King” was on his way out Cleveland even before last season ended and it became official early when free agency opened.
No way to look at James’s move but in preparation as well for a career post-basketball. Considering his stature, Los Angeles should provide him with more opportunities on various platforms than Cleveland.
Basketball-wise, his presence in La-La Land makes the Lakers a force to contend with come next season after years of struggles after Kobe Bryant left.
Joining James in Los Angeles are Lance Stephenson, Rajon Rondo, Michael Beasley and JaVale McGee, playing in tandem with the young guns of the team Lonzo Ball, Kyle Kuzma and Brandon Ingram.
Another noteworthy movement was the swap between the San Antonio Spurs and Toronto Raptors that had former finals most valuable player Kawhi Leonard going North and All-Star DeMar DeRozan heading to the Alamo.
So much emotion was involved in the deal with issues on commitment and loyalty, or lack thereof, thrown left and right.
Leonard had reservations going to Toronto at first but seemingly has committed himself there at least for a year.
If the Raptors and “The Claw” get their act together then there is a strong chance that they may be able to finally go over the hump in the Eastern Conference, with Leonard joining forces with All-Star Kyle Lowry, Jonas Valanciunas, Serge Ibaka and Toronto’s solid reserve crew.
DeRozan is no Leonard but his offensive explosiveness in particular should be a boon to the transitioning Spurs.
One of the left moves to date was All-Star DeMarcus Cousins hooking up with the already-loaded reigning world champions Golden State Warriors. He said his decision was fueled by feeling “insulted” with no offers given to him, even by his former team New Orleans, and now the rest of the NBA could potentially pay for it.
Another surprise move was that of Trevor Ariza leaving Western Conference finalist Houston for tail-ending Phoenix.
Former All-Stars Dwight Howard, Isaiah Thomas and Tony Parker had also moved.
Howard was traded by Charlotte to Brooklyn before being released. He has since hooked up with the Washington Wizards where I think he can still contribute, provided he is used properly relative to the talent of resident stars John Wall and Bradley Beal.
The whirlwind that has hit the career of Thomas of late continued, landing him in Denver this time around. He was an All-Star in Boston, had high hopes for in Cleveland last season but slumped to the Lakers. With the Nuggets, he should shore up their guard rotation but not necessarily on an All-Star level.
Parker ended years of service with the Spurs to play for Charlotte, where he would be a veteran presence but possibly with more playing time than what he had with San Antonio last season.
DeAndre Jordan is headed to Dallas after reneging on a verbal commitment to play for the Mavericks a couple of years back and he should provide steady presence in the paint.
Young guns Jabari Parker and Julius Randle signed up with new teams with the former signing up with rebuilding Chicago and the latter joining New Orleans, possibly cushioning the impact of the loss of Cousins.
Also have moved are Vince Carter (Atlanta), Ersan Ilyasova (Milwaukee), Nerlens Noel (Oklahoma City), Elfrid Payton (New Orleans), Jose Calderon and Zaza Pachulia (Detroit), Michael Carter-Williams (Houston), Wilson Chandler (Philadelphia) and Tyreke Evans (Indiana).
With these movements and more still come, including the about-to-be-completed move of former All-Star Carmelo Anthony to Houston from Oklahoma City by way of Atlanta, the landscape of the NBA is once again altered.
And with it, fans are left with more story lines to look forward to come next season.
 
Michael Angelo S. Murillo has been a columnist since 2003. He is a BusinessWorld reporter covering the Sports beat.
msmurillo@bworldonline.com

Facing the battle

In the intervening month since LeBron James decided to take his talents to La-La Land, the reasons for his move have been well chronicled and thoroughly scrutinized. It comes with the territory, to be sure; given his history of success and continuing status as first among equals in the National Basketball Association, his transfer was expected to be assessed through critical lenses. For all the deluge of opinions from pundits, fellow players, and fans notwithstanding, no one position emerged as definitive, and with reason: He himself had yet to talk about his choice to become a Laker.
Until yesterday, that is. In free-wheeling interviews conducted on the occasion of the opening of his I Promise School in Akron, Ohio, James spoke freely of his thought process in free agency. It certainly didn’t last long; unlike in previous instances, he made his decision known on the very first day he could. And, unlike in previous instances, he did it sans any fanfare. No broadcast spectacle, no penned missive on a respected publication. Instead, he announced it via a simple press release issued by his agent.
For the record, James noted that he did take his time choosing between such notables as the Sixers and Rockets (along with, of course, the Cavaliers) before latching on to the Lakers. “I definitely thought long and hard about the possibilities of lining up alongside Ben [Simmons] and [Joel] Embiid, or lining up alongside [James] Harden and Chris [Paul],” he told ESPN’s Rachel Nichols. That said, he disclosed that, at this point in his career, “I like the challenge of being able to help a team get to some place they haven’t been in quite a while.”
Of course, it helps that the Lakers have a brand that transcends hoops, and that it’s situated in the entertainment capital of the world. As James pointed out, “it matches up there with all the greats. You can look at the Cowboys, and you can look at the Patriots, you can look at Manchester United, the Boston Celtics. These are historical franchises and for me to be a part of that, I think it’s a great moment for not only me but for my family and for the history of basketball in general.”
Still, the bottom line is clear: James knows he faces a battle unlike any he has seen since being drafted first overall in 2003, and he’s prepared to ride out the inevitably tough early going. “There’s gonna be times, being a young group playing together, where guys are gonna question what’s goin’ on. And that’s just human nature. I understand that. But I’ve always been a part of it. I know a lot about the ups and downs of a season. And one thing we can’t do is lose focus on what the main goal is, and the main goal is to continue to be as great as we can be every day.” In other words, he knows he won’t be competing for the hardware soon, but remains committed to the work required so that he will be again.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Stocks close lower on profit taking

Local shares snapped their five-day winning streak on Tuesday, July 31, after investors resorted to profit taking ahead of the United States’ Federal Reserve’s meeting this week.
The 30-company Philippine Stock Exchange index (PSEi) gave up 1.3% or 101.32 points to close at 7,672. The broader all shares index also lost 0.89% or 41.16 points to 4,604.12.
“Market had a profit taking today after four days run-up following regional market downtrend,” Diversified Securities, Inc. Trader Aniceto K. Pangan said in a text message.
Regina Capital Development Corp. Managing Director Luis A. Limlingan also blamed profit-taking for the index’s slowdown, saying in a separate message: “After five consecutive days of bargain hunting, investors decided to take profit from issues that they had bought earlier.”
All sectoral indices ended in negative territory, led by property which plunged 1.72% or 65.72 points to 3,754.81. Financials went down by 1.19% or 22.33 points to 1,858.92; holding firms slowed by 1.13% or 86.88 points to 7,593.74; mining and oil by 0.99% or 96.88 points to 9,714.41; industrial by 0.82% or 89.7 points to 10,830.18; and services by 0.52% or 7.79 points to 1,493.58.
Turnover accelerated to P7.05 billion after some 842 million issues switched hands, higher than the P5.61-billion turnover recorded in the previous session.
Decliners were more than double the number of stocks that advanced, 130 to 63, while 52 issues ended flat.
The list of 20 most actively traded stocks counted 15 losers, including Ayala Land, Inc. (down 3.2% to P40.85); BDO Unibank, Inc. (down 1.49% to P132); Ayala Corp. (down 1.38% to P999); Universal Robina Corp. (down 5.88% to P128); and PLDT, Inc. (down 1.62% to P1,337).
Gainers for the day included five stocks, namely Metro Pacific Investments Corp. (up 0.43% to P4.71); Jollibee Foods Corp. (up 1.5% to P270); Globe Telecom, Inc. (up 1.21% to P1,835), DMCI Holdings, Inc. (up 0.68% to P11.80), and International Container Terminal Services, Inc. (up 0.68% to P89).
Foreigners continued their buying spree, posting P255.59 million in net purchases, albeit lower than the previous session’s P511 million net foreign inflows. — Arra B. Francia

Government rejects all bids for 20-year Treasury bonds

The government opted to fully reject all bids on the reissued 20-year Treasury bonds (T-bonds) it offered on Tuesday as the market preference is still on the short-end of the curve ahead of the the August policy meeting of the local central bank.
The Bureau of the Treasury (BTr) decided to reject all tenders for its P15-billion offer of reissued 20-year bonds yesterday.
Total offers placed by banks and other financial institutions amounted to P20.556 billion, above the amount the Treasury intended to borrow.
Had the BTr decided to accept all bids, the papers, which carry a coupon rate of 6.5%, would have fetched an average rate of 7.39%, 41.1 basis points from the 6.979% recorded in the previous 20-year bond auction.
At the secondary market prior to the auction, the debt notes were quoted at 7.5546%. — Karl Angelo N. Vidal

How reliant is the Philippines on renewable energy?

By Christine Joyce S. Castañeda, Senior Researcher
Renewable energy resources — which include geothermal, hydropower, biomass, solar and wind — accounted for 25% of the country’s power generation mix in 2017. Renewable energy-based facilities generated 23.19 million megawatt-hours (MWh) in 2017, up by 5.5% from 2016’s 21.98 million MWh.
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How much renewable energy does the Philippines generate?

MPIC readies proposal for building LNG facility

Metro Pacific Investments Corp. (MPIC) has joined local and foreign companies that have signified their intention to build an integrated liquefied natural gas (LNG) facility as it plans to come up with its own proposal, its chairman said.
MPIC Chairman Manuel V. Pangilinan told reporters the group has undergone initial studies for the project although details have yet to be firmed up as far as the capacity of the LNG terminal as well as whether the project will have a power plant component.
Asked about when the proposal will be ready, he said: “Within the year.”
He said the entity that he expects to handle the project will be MPIC in coordination with other entities. — Victor V. Saulon

World Bank to scale up dev’t program for Bangsamoro

World Bank said it will ramp up development support to the Bangsamoro region after President Rodrigo R. Duterte signed the Bangsamoro Organic Law (BOL) last week.
“The signing of the Bangsamoro Organic Law and its implementation are critical to achieve log lasting peace in the region, and we are committed to scale up our program and double our efforts in support of this promising opportunity,” said Mara Warwick, World Bank Country Director for Brunei, Malaysia, Philippines and Thailand in a statement on Tuesday.
Currently, the multilateral bank is supporting the peace process between the Philippines government and the Moro Islamic Liberation Front through the Mindanao Trust Fund (MTF). — Elijah Joseph C. Tubayan

Bitcoin extends loss after dropping below $8,000 price level

Bitcoin spiked lower after dropping below the $8,000 price level.
Volatility in the biggest cryptocurrency has increased over the last few trading sessions after the U.S. Securities and Exchange Commission rejected the latest attempt to create an exchange-traded fund.
“It looks like the entire market is in a risk-off mood today,” said Mati Greenspan, senior market analyst at eToro, in an e-mail. “The sentiment seems to be spreading fast and very likely influencing the crypto markets as well at the moment. The current level of support is at $7,800 but even if we see a range between $6,000 and $8,000 it wouldn’t be terrible.” — Bloomberg

PHA teams up with Korean firm for foray into tourism, infra, power

Premiere Horizon Alliance Corp. (PHA) is looking to venture into infrastructure, tourism, and power, after signing an agreement with Korean firm D-Eco Energy Co. Ltd. for a joint exploration into the sectors.
In a disclosure to the stock exchange on Tuesday, July 31, PHA said it has signed a memorandum of understanding with D-Eco for the partnership.
“Both companies are studying the possible investment and partnership structures in the envisioned project companies on each of these sectors utilizing their respective resources and expertise,” the company said. — Arra B. Francia

Inflation seen to pick up further this month

The central bank says inflation could pick up further in July as most commodities saw prices rise.
In a statement, the Bangko Sentral ng Pilipinas said July inflation could fall within the 5.1%-5.8% range, coming from June’s 5.2% print.
“The increases in electricity rates in Meralco-serviced areas, water rate adjustments in Maynilad- and Manila Water-serviced areas, domestic gasoline and LPG prices, jeepney fares, scheduled increase of the tobacco excise tax, and prices of rice and other agricultural commodities could lead to upward price pressures during the month. Meanwhile, there was a slight downward adjustment in domestic diesel prices for July. Going forward, the BSP will continue to keep a watchful eye on the risks to the inflation outlook and will take necessary action to help ensure that inflation expectations remain firmly anchored to the target.” — Melissa Luz T. Lopez

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