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Hallasgo, Agravante reign supreme in Milo Marathon

FORMER Milo Marathon King Jeson Agravante and Milo Marathon regular Christine Hallasgo embodied discipline, resilience and determination as they reigned supreme in the Milo Nutri-Up 42K race event of the 42nd National Milo Marathon Manila. Almost 28,000 runners hit the streets and braved the damp weather to conquer the race routes that covered the cities of Pasay, Makati, and Taguig in Metro Manila.
In the men’s division, Agravante beat his opponents with the time of 2:35:10, relegating Erick Panique (2:42:41) to second place, and Bryan Quinco (2:43:59) to third place. In the women’s division, Hallasgo clocked in with the time of 3:05:14, placing Jho-An Villarma (3:14:28) to second place, and Cinderella Lorenzo (3:17:46) to third.
Both Agravante and Hallasgo will each take home the top purse of P50,000 in cash and a trophy, and booked their slots to the National Finals in Laoag City on Dec. 9 to try and claim the Milo Marathon King and Queen titles.

Brit Hamilton tops Hungarian Grand Prix to build championship lead to 24 points

WINNER Mercedes’ British driver Lewis Hamilton (R) and second placed Ferrari’s German driver Sebastian Vettel celebrate on the podium after the Formula One Hungarian Grand Prix at the Hungaroring circuit in Mogyorod near Budapest, Hungary, on July 29. — AFP

BUDAPEST — Lewis Hamilton strengthened his push for a fifth world title by increasing his championship lead to 24 points on Sunday as he claimed a convincing victory for Mercedes in the Hungarian Grand Prix.
The defending world champion came home 17.123 seconds ahead of title rival and fellow four-time champion Sebastian Vettel of Ferrari after the German had survived a collision with Valtteri Bottas, in the second Mercedes.
That came on lap 65, of the 70, when Vettel finally passed Bottas, the Finn’s right front wing touching his rear left tire under braking, wrecking Mercedes’ hopes of a one-two finish.
Kimi Raikkonen finished third, his fifth podium finish in a row, in the second Ferrari ahead of Daniel Ricciardo who surged from 12th on the grid to fourth for Red Bull ahead of Bottas, who finished fifth after a late pit stop.
It was Hamilton’s record sixth win in Hungary, his fifth this season and the 67th of his career.
“We came here knowing that the Ferrari would be really quick this weekend,” said Hamilton. “But to come out with these points, we’ll definitely take as a bonus. What a beautiful day and a great crowd — and a great job from the team.”
Hamilton now has 213 points to Vettel’s 189 after the 12th of 21 races this year and before the championship takes a European summer break.
Frenchman Pierre Gasly came home sixth for Toro Rosso ahead of Kevin Magnussen of Haas, Fernando Alonso of McLaren, on his 37th birthday, fellow-Spaniard Carlos Sainz of Toro Rosso and Romain Grosjean in the second Haas.
“P2 is not what we really wanted, but the maximum we could get today,” said Vettel.
The race, preceded by a minute’s silence for former Ferrari boss Sergio Marchionne, began in sweltering conditions with a track temperature of 57 degrees Celsius and air at 34.
After Saturday’s rain-lashed qualifying, the teams had a free choice of tires, which saw Ferrari split their strategy — Vettel, like Sainz, choosing softs, while Raikkonen and the rest started on ultra-softs.
VERSTAPPEN FORCED OUT
The Mercedes men made perfect getaways, Hamilton streaking clear and Bottas staying close to resist attacks as Vettel swept inside into third.
Verstappen, who had moved up to fifth, made an early exit, his Renault engine grumbling into retirement on lap six.
After one lap under Virtual Safety Car (VSC) conditions, Hamilton resumed his charge. He was 4.5 seconds clear of Bottas by lap 10 and 5.7 by lap 14 when Raikkonen pitted, followed immediately by Bottas, both switching to softs.
This left Vettel in pursuit of Hamilton, but despite some swift laps, he remained seven seconds adrift of Hamilton before the champion pitted after 25 laps. He rejoined second between the German and Bottas.
In clear air, Vettel pushed to extend his lead to more than 12 seconds by lap 36, with Bottas further adrift and, in turn, ahead of Raikkonen by just 1.2 seconds.
Held by traffic and still on his original worn softs, Vettel began to struggle and his lead tumbled to 9.5 seconds by lap 39 when he pitted. A slow stop cost him two seconds and he emerged third behind Bottas.
Raikkonen had pitted a lap earlier, falling to fifth behind Ricciardo, who had yet to stop. For Ferrari, it was not an encouraging position given their raw speed advantage in practice. The Australian pitted, finally, after 44 laps, switching to ultras.
By lap 45, Hamilton led Bottas by 10 seconds with Vettel a further three seconds adrift and making little impact, despite fresher tires.
On lap 51, Stoffel Vandoorne slowed and retired from an encouraging ninth at Turn One. A VSC was deployed. On resumption, Vettel closed to within a second of Bottas, but despite tires that were 24 laps younger, he was unable to find a pass as Raikkonen closed in.
For Hamilton, it was a dream scenario and, with 10 laps to go, he was 18 seconds clear of the unyielding Bottas, who had both Ferraris bottled up behind him, within a second, until Vettel lunged by with five laps to go. — AFP

NCAA: Red Lions shoot for third win in a row

THE defending champions San Beda Red Lions go for their third win in as many games in Season 94 of the National Collegiate Athletic Association (NCAA) in league action set for today at the FilOil Flying V Centre in San Juan City.
Out on a good start to the tournament once again, Mendiola-based San Beda looks to add the Emilio Aguinaldo College (EAC) Generals to the list of teams it has preyed on in the ongoing tournament when they collide in the 4 p.m. game.
Preceding the match is the battle between the College of St. Benilde Blazers (1-2) and Jose Rizal University Heavy Bombers (0-4) at 12 noon and that between the Arellano Chiefs (2-1) and Mapua Cardinals (1-2) at 2 p.m.
The Lions enter the contest off a narrow 75-69 win over St. Benilde last week, and are now eyeing on building on it as their three-peat bid takes further root.
While EAC is struggling off the starting gates with a 0-3 record, San Beda is mindful not to take the Generals too lightly, more so with a player like Cameroonian Hamadou Laminou on EAC’s side.
“They have a tall and strong import and they have some key pieces who could beat any team so there is no reason to expect an easy game,” said Lions coach Boyet Fernandez.
San Beda will also try to ride on the splendid play to date of floor general Robert Bolick, who has averaged a career-best 20 points a game including a career-high 25-point effort against the Blazers last time around.
Looking to derail the Lions in their push are the Generals, who have yet to barge into the win column.
EAC’s latest loss came on July 26 at the hands of the Perpetual Help Altas, 76-74, at the Generals’ home in Taft.
Meanwhile, reigning league most valuable player CJ Perez of league-leading Lyceum Pirates was the recipient of the player of the week honors.
Perez fired a career-high 31 points to anchor the Pirates’ come-from-behind 82-65 win over Arellano on July 24, wherein they overcame an early 16-point deficit.
He then flirted with a triple-double, tallying 19 points, nine rebounds, and eight assists three days later in a 94-81 victory at the expense of Mapua.
In two games last week, Perez put up averages of 25 markers, 7.5 boards, seven dimes, and four steals in 33 minutes of action.
In winning the weekly plum, Perez bested Bolick, Prince Eze of Perpetual, Levi Dela Cruz of Arellano and fellow Pirate Mike Nzeusseu. — Michael Angelo S. Murillo

Super Nepom wins Dortmund

46th Dortmund Sparkassen
Chess Meeting
Dortmund, Germany
July 14-22, 2018

Ian Nepomniachtchi was born July 14, 1990 in Bryansk, a city located 380 kilometers southwest of Moscow. He learned chess at a very young age and at five years old was already attending chess classes.
In Russia there are five categories of their rating pyramid. In most chess schools there are two theory courses of two hours each week, and on Sunday the students played separate tournaments according to their category. There were no open tournaments, only closed 10-12 player round-robins. Each player had to achieve the equivalent of a norm and repeat the performance at least once to pass to the next level. There were beginners, then 5th category, 4th, 3rd, 2nd and by the time they reach 1st category their strength would more or less be equivalent to ELO 2000. After that one becomes a Russian Candidate Master (around ELO 2200) and then a Master, around ELO 2400.
The time control for these tournaments is 15 minutes for each player per game. Only when a player reaches the second category does the time allotment increase. It doesn’t make sense for very young players or beginners to spend two or more hours for a single game.
At the age of seven Nepom won the Under-10 Regional Championship with a 100% score and stopped playing in regional events. In the years 2002-2003 he won several national, European and world championship titles in his age group and, starting 2004 he set his sights a bit higher and concentrated on playing adult events.
Ian’s quantum leap was in 2010. Only 20 years old then, he won the European Individual Championship with a gigantic score of 9/11 in March of that year and then come December he earned a mighty feather in his cap by topping the Russian Super Final after defeating Sergey Karjakin in a playoff. The minor irritant in 2010 is the Russia Junior Championship held in April, the soon-to-be Russian Champion failed to win the tournament for Under-20s and could only come second behind Dmitry Andreikin.
By Jan. 1, 2011 Ian Nepomniachtchi became the no. 15 highest-rated player in the world.
He nearly accomplished the same feat in 2013. In that year the European Individual Chess Championship was held in Legnica, Poland. It was an 11-round Swiss and there was a massive 10-player tie for 1st place between Evgeny Romanov, Evgeny Alekseev, Constantin Lupulescu, Francisco Vallejo Pons, Alexander Beliavsky, Alexey Dreev, Alexander Moiseenko, Sergei Movsesian, Ian Nepomniachtchi and Hrant Melkumyan. Moiseenko was awarded the gold medal after the application of tie-breaks. He was actually leading the tournament for most of the way but lost in the last round (to Nepomniachtchi!) and this allowed his pursuers to catch up with him. In the Russian Super Finals held in October 2013, Nepom tied for 1st once more and again he was not favored by the god of tie-breaks — Peter Svidler got the gold medal.
Anyway it is now 2018 and apparently Nepomniachtchi is making another surge. He finished second in the Poikovsky tournament (an annual event always with a strong lineup) and won the Gideon Japhet Cup in Jerusalem (against Ivanchuk, Gelfand, Svidler and two others). His victory in Dortmund allowed him to overtake Aronian, Grischuk and Yu Yangyi in the ratings list and he is now the 12th highest rated in the world.
In an interview several years ago Ian characterized his style as “I always aim to play for a win and keep fighting until all the resources are depleted. However, there are also last-round situations. If a last-round draw guarantees success, then it is wise to secure a draw.”
In Dortmund’s last round he needed a win to ensure solo first, and he really fought for it until his opponent slipped up.

Nepomniachtchi, Ian (2757) —
Meier, Georg (2628) [C10]
46th Sparkassen Chess Meeting
Dortmund (7), 22.07.2018

1.e4 e6
Many years ago I used to meet up with a group of players every Sunday and spend the afternoon playing blitz or rapid chess. We would have a few guest masters, sometimes it was Efren Bagamasbad, a few times it was Erwin and Elmer Carag, I remember once or twice Carlo Lorena and Stewart Manaog, who both worked in Magnolia, would come over.
Anyway in the course of the many many games we played Efren Bagamasbad, at that time working at Quality Control in the Coke Plant, taught me that the f7 square is a weakness for Black even before the game starts, and the point of the French with 1…e6 is to protect f7. Black should try to keep the position closed and then start maneuvering on the side where he is strongest, either kingside or queenside. The slow development, however, requires that Black must be careful as he might fall to a lightning attack. For example Evgeny Bareev, one of the best French players ever, was also known to have a tendency for losing miniatures — it is an occupational hazard when you play the French.
2.d4 d5 3.Nc3 dxe4
After 1.e4 LGeorg Meier almost always responds with the French Defense Rubinstein Variation. So this is no surprise at all.
4.Nxe4 Nd7 5.Nf3 Ngf6 6.Nxf6+
I will show you what I mean by Black needing to be careful. In the 2007 World Cup this game happened: 6.Bd3!? (one of those simple developing moves which carry some poison) 6…Nxe4 7.Bxe4 Nf6 8.Bg5 Qd6!? (The queen move is logical as it breaks the pin and forces White to decide what to do about his hanging bishop on e4) 9.Bd3!? Qb4+ 10.Qd2 Qxb2 11.0–0 (black has won a pawn but now White’s attack comes swiftly) 11…Be7 12.Qf4 Qb6 13.Qg3 c5 14.Rab1 Qd8 15.dxc5 Bxc5 16.Rfd1 Qe7 17.Bb5+ Kf8 18.Ne5 h6 19.Rd7! Bxd7 20.Bxf6 Bxf2+ (20…gxf6 21.Nxd7+ Ke8 22.Nxc5+ wins easily) 21.Qxf2 gxf6 22.Nxd7+ Kg7 23.Rb3 Rhd8 24.Rg3+ Kh8 25.Qf4 1–0 Alekseev,E (2716)-Ismagambetov,A (2479) Khanty-Mansiysk World Cup 2007.
6…Nxf6 7.Ne5!?
Let’s have another example of Black needing to be careful. Ruslan Ponomariov became FIDE World Champion by beating Vassily Ivanchuk in the finals of the Moscow KO World Championship in January 2002. The next month he was invited to play in the super GM tournament in Linares, which was accepted without hesitation. Garry Kasparov of course wanted very much to beat Ruslan and put him in his place. This is what happened: 7.c3 c5 8.Ne5!? (this move was a rarity but after Kasparov played this game it became the no. 1 choice) 8…Nd7? (Ponomariov was not careful! The critical move here is 8…a6 , ruling out Bb5) 9.Bb5! Bd6 10.Qg4! Kf8 (Black is already in difficulties. He can’t castle because of 10…0–0 11.Bxd7 Bxd7 12.Bh6 he loses the exchange) 11.0–0!? Nxe5 12.dxe5 Bxe5 (Ponomariov is a clear pawn up and feeling good about himself, but the initiative in Kasparov’s hands is a dangerous thing) 13.Bg5 Bf6 14.Rad1 Qc7 15.Qh4 Bxg5 16.Qxg5 f6 17.Qh5 g6 18.Qh6+ Kf7 19.Rd3! a6 20.Rh3 Qe7 (Not 20…axb5 White wins with 21.Qxh7+! Rxh7 22.Rxh7+ Kg8 23.Rxc7) 21.Bd3 f5 22.g4! Qf6 23.Rd1 b5 24.Be2 e5 25.Rhd3 Ra7 26.Rd6 Qg7 27.Qe3 Rc7 28.a4 e4 29.axb5 axb5 30.Bxb5 Qe5 31.Qg5 Qe7 32.Qh6 Be6 33.Qf4 Bc8 34.Qh6 Be6 35.gxf5! gxf5 36.Be2! Qf6 37.Bh5+ Ke7 38.Rxe6+! Black resigned as 38…Qxe6 39.Qg7+ mates next move. 1–0 (38) Kasparov,G (2838)-Ponomariov,R (2727) Linares ESP 2002.
7…Bd6 8.Bg5 h6 9.Bh4 0–0 10.Bd3 c5 11.Qe2!?
Nepom is still pushing aggressively.
11…Qa5+
This is Meier being careful. It appears that he can win a pawn by 11…cxd4 12.0–0 Be7! 13.Rad1 Qc7 14.f4 b6 but of course White has compensation because of his initiative. Also this was obviously prepared by Nepom so Meier avoids the main line.
12.c3 cxd4 13.Nc4!
This enables White to destroy Black’s kingside pawns.
13…Qc5 14.Bxf6 gxf6 15.Qg4+ Kh8
Another reason why 13.Nc4 is a good move. Black can’t interpose 15…Qg5 because of 16.Qxg5+ hxg5 17.Nxd6.
16.cxd4 Qb4+ 17.Kf1?! Bc7 18.Qe4 f5 19.Qh4
POSITION AFTER 19.QH4
19…Kg7?
A mistake. I couldn’t believe it but 19…Kh7! seems to hold. After 20.g4 b5! 21.gxf5 (21.g5 Bf4! (this is an incredible move which is very hard to find) 22.Qxf4 bxc4 23.Qh4 Qd2! (another incredible move) 24.Qxh6+ Kg8 White doesn’t have a forced win) 21…bxc4 (and now because the Black king is on h7 instead of g7 White does not have the in-between move f5–f6+) 22.Rg1 Rg8 23.f6+ cxd3 24.Rxg8 Kxg8 25.Qxh6 Qf8 just in the nick of time. White has to content himself with perpetual check.
20.g4!
The difference between Black’s king being on the g-file rather than the h-file is now it is vulnerable to a rook check from g1.
20…f4
For example if we try to follow the previous note then 20…b5 21.gxf5 bxc4 22.f6+ Kh8 23.Qxh6+ Kg8 and White has the choice of various checkmates.
21.Rg1! Bd7 22.Qh5!
An important move. 22.g5? immediately does not work because of 22…h5! 23.g6 (23.Qxh5 Rh8 the tables are turned and it is Black who is willing) 23…f6 and now White cannot play 24.Qxh5 because of 24…Rh8.
22…Rh8 23.g5 hxg5 24.Qxg5+ Kf8 25.Qf6! Rxh2 26.Rg7 Be8 27.Bh7 1–0
Shortly after the Dortmund tournament started the head coach of the Russian national men’s chess team, Russian Chess Federation President Andrey Filatov announced the team composition for the forthcoming World Chess Olympiad to be held in Batumi, Georgia later this year: Vladimir Kramnik, Sergey Karjakin, Ian Nepomniachtchi, Dmitry Jakovenko, and Nikita Vitiugov. It looks like Nepom is really building up for a tremendous performance representing his country.
 
Bobby Ang is a founding member of the National Chess Federation of the Philippines and its first Executive Director. A Certified Public Accountant, 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

Class job

Dustin Johnson isn’t from Canada, but he may as well be given the level of support he received from spectators at Glen Abbey in Oakville, Ontario over the extended weekend. In equal measure, it’s because he’s the son-in-law of living legend Wayne Gretzky and because he lived up to his ranking as World Number One; tied for the lead at the start of the final round of the RBC Canadian Open, he separated himself from the field early on and cruised to victory, in the process rewarding the cheers of hometown fans. They certainly made him one of their own throughout, serenading him with “O Canada” as he stamped his class yesterday.
All told, the win was Johnson’s third of the season, a mark he likewise attained in 2016 and 2017. On one hand, his continued dominance reflects the extent of his talent; as in most other days he tees off, yesterday provided him with an opportunity to showcase the seeming effortlessness with which he went about his business. Long — make that crazy long — and straight with a driver in hand, he made Glen Abbey look easy. The Jack Nicklaus-designed layout, and, by extension, all the others casting furtive glances at the hardware, had no chance.
Interestingly, Johnson didn’t appear ready coming in. His last start was a missed cut at the British Open, the first time in a year he failed to make the weekend in a tournament. As he noted, though, a few sessions on the putting green did the trick. Meanwhile, his ballstriking was on point at usual — which is to say nothing short of outstanding; he finished the event tops in strokes gained off the tee. And considering how sharp his game was, just about the only thing delaying his meeting with destiny was the weather.
With owner ClubLink slated to give Glen Abbey a makeover, the Canadian Open will move to the well-regarded Hamilton Golf and Country Club next year. No doubt, it’s a transfer Johnson would like to avoid in light of his romp to the title. Then again, the way he’s playing makes him a force no matter where he wields his clubs. He’s a perennial favorite, and he invariably proves why.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Meralco’s second-quarter profit gets boost from electricity sales

Manila Electric Co. (Meralco) reported a core net income of P5.93 billion in the second quarter, higher by 7.4% compared with the P5.52-billion profit a year ago, as the country’s biggest power distribution utility posted higher energy sales during the period.
Including one-time items, the company’s reported net income reached P6.66 billion, up 17% from P5.68 billion a year ago, after a 7% revenue rise to P79.74 billion, the bulk of which came from electricity sales.
“The higher revenue is the result of the combined effect of the 7% increase in volume of energy sold, and increase generation charge brought about by higher fuel prices, the weakening of the peso versus the US dollar, higher prices at the wholesale electricity spot market, as well as higher local consumer price index,” said Betty C. Siy-Yap, Meralco senior vice-president and chief finance officer, during the company’s media at its headquarters on Ortigas Ave., Pasig City.
“The average distribution rate of Meralco was at P1.42 per kilowatt-hour, 1 centavo lower than that of 2017 as the sales mix reflected a slightly higher share of industrial over residential volumes,” she added.
In the first half, consolidated core net income rose 7% to P10.9 billion, while reported consolidated net income rose 14% to P12 billion. Revenues reached P150.5 billion, up 7%, while volume of energy sold was at 21,665 gigawatt-hours, also higher by 7%.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Victor V. Saulon

URC second-quarter profit slips, revenues rise

Universal Robina Corp. (URC)’s attributable profit dropped by more than a third during the second quarter of 2018, taking a hit from the weakening of the peso as well as the depreciation of local currencies of its international subsidiaries.
In a regulatory filing, the Gokongwei-led food and beverage company reported net income attributable to equity holders of the parent reached P1.86 billion, 35% lower than the P2.88 billion it realized in the same quarter a year before.
On a six-month basis, URC’s attributable profit slumped 23% to P4.81 billion.
The listed firm attributed the profit decline to lower operating income and foreign exchange gains. URC said net foreign exchange gains declined by 77% “due to the combined effects of depreciation of international subsidiaries’ local currencies and Philippine peso vis-à-vis US dollar.”
Revenues meanwhile went up by 10% to P33.18 billion during the second quarter, and up 5.89% to P64.37 billion for the first half.
“We are pleased with our overall sales growth momentum, and are working hard to address the short term challenges to profitability brought about by peso devaluation and inflationary pressures,” URC President and Chief Executive Officer Irwin Lee said in a statement. — Arra B. Francia

Megaworld to invest P28 billion in Bacolod township development

Megaworld Corp. is investing P28 billion over the next 10 years to develop its first integrated township in Bacolod City, which is being positioned to be a central business district in the area.
The propery company of tycoon Andrew L. Tan said it will start construction for the 34-hectare project dubbed The Upper East. The project takes inspiration from New York’s upscale lifestyle district of the same name.
“The Upper East will be the city’s first master-planned mixed-use community that integrates the live-work-play components of an integrated urban township…Around 35% of the township will be dedicated to parks and open spaces. We are excited to build Bacolod’s new and modern central business and lifestyle district,” Megaworld Vice President for Sales and Marketing Rachelle Peñaflorida said in a statement. — Arra B. Francia

DTI cites PHL ‘economic breakout’ to lure Japan’s manufacturers

The Department of Trade and Industry is encouraging Japan’s manufacturers to invest in the Philippines, citing the country’s growth in the sector.
“The Philippines is on an economic breakout. It is the perfect time to invest and do business in our country, which has a 6.8% GDP growth and an 8% growth in manufacturing industry. We are the best country to invest in,” said Trade Secretary Ramon M. Lopez in a statement on Monday.
The official was speaking at an event attended by over 400 Japanese manufacturing companies during a series of investment seminars on July 25-28 .
“We are very keen in engaging with Japan, especially on the aspect of manufacturing and innovation, and how we can work together to strengthen not only manufacturing but the MSMEs in their value chain as well,” Mr. Lopez added.
Manufacturing is one of the priority industries under DTI’s Inclusive, Innovation-led, Industrial Strategy (I3S). It covers electronics, automotive, shipbuilding, aerospace, and furniture. — J. C. Lim

Gatchalian: Malampaya fund can be used to bring down electricity rates

Senator Sherwin T. Gatchalian on Monday, July 30, sees the bill allocating the P204 billion Malampaya funds to cover universal charge as the fastest and simplest measure of reducing the cost of electricity in the country.
“After thorough study on the various bills being proposed in the Senate, the chair deems it that this bill is one of the fastest, one of the simplest and one of the clearest ways of reducing our electricity bill,” said Mr. Gatchalian, who chairs the Senate committee on energy, during the legislative hearing on the proposed measure.
Senate Bill No. 924 or the proposed Cheaper Electricity Bill Act, filed by Senate President Pro Tempore Ralph G. Recto in 2016, seeks to allocate the net national government share from the Malampaya natural gas project for the payment of the stranded contract costs (SCC) and stranded debts (SD) of the National Power Corp. (Napocor).
Based on the computations of the Power Sector Assets and Liabilities Management Corp. (PSALM), applying the P204 billion Malampaya fund would avoid an increase of P0.874 per kilowatt hour (kWh) in retail power rates. This would result in annual savings of P2,033.76 for an average household consuming 200 kWh monthly.
Mr. Gatchalian said the committee is now studying the proposed measure on precisely how much of the remaining Malampaya funds should be applied for the purpose.
The Malampaya project is a joint undertaking of the national government and the private companies Shell Philippines Exploration B.V. on behalf of joint venture partners Chevron Malampaya LLC and PNOC Exploration Corp. The gas find is expected to run out around 2022 to 2024. — Camille A. Aguinaldo

More than 500 hikers stranded on mountain after Indonesia quake

Mataram, Indonesia — Indonesia mounted a rescue operation Monday to reach more than 500 hikers and guides stranded by landslides on an active volcano on Lombok, a day after a powerful earthquake struck the holiday island.
Helicopters and search teams on foot have been deployed to scour the slopes of Mount Rinjani, which is crisscrossed with hiking routes popular with tourists, while rescuers have made airdrops of food supplies to those stranded.
Tonnes of rock and mud were dislodged on the mountain in the 6.4-magnitude quake, which struck early Sunday and was followed by scores of aftershocks, leaving hikers with no easy way down to safety.
“There are still 560 people trapped,” said the head of Rinjani national park Sudiyono, who goes by one name.
Those believed to be stranded include citizens from the United States, France, The Netherlands, Thailand and Germany, as well as many other countries, search and rescue officials said.
At least 16 people were killed in the earthquake across affected areas of Lombok, while hundreds of buildings were destroyed.
Food for two days
The rescue operation on Mount Rinjani is likely to run until at least Tuesday and a military helicopter has dropped supplies at several spots on the mountain, according to search and rescue agency officials.
“For supplies, they can still survive for another one to two days,” Agus Hendra Sanjaya, spokesman for Mataram’s search and rescue agency, told AFP.
No hikers are injured, he added.
Rising some 3,726 metres (12,224 feet) above sea level, the peak is the second-tallest volcano in Indonesia and a favourite among sightseers keen to take in its expansive views.
Hiking trails on the mountain were closed following the quake due to fear of further landslides.
The epicentre of the earthquake was 50 km (30 miles) northeast of Lombok’s main city Mataram, the United States Geological Survey said, far from the main tourist spots on the south and west of the island.
The initial tremor was followed by two strong secondary quakes and more than 100 aftershocks.
Some 160 people were injured as a result, said Mohammad Rum, head of West Nusa Tenggara disaster agency.
Among the dead are one Malaysian, with six injured, the Malaysian foreign ministry said.
President Joko Widodo visited the affected site on Monday and promised financial support for people who had lost their homes.
“We must be aware that our country is in the Ring of Fire, so people need to be prepared to face any disaster,” Widodo said.
Indonesia, one of the most disaster-prone nations on earth, straddles the so-called Pacific ‘Ring of Fire’, where tectonic plates collide and a large portion of the world’s volcanic eruptions and earthquakes occur.
In 2004 a tsunami triggered by a magnitude 9.3 undersea earthquake off the coast of Sumatra in western Indonesia killed 220,000 people in countries around the Indian Ocean, including 168,000 in Indonesia. — AFP

French World Cup glory costs China firm $9 million and counting

Shanghai, China — A Chinese kitchen appliance maker said Monday it has so far made refunds worth nine million dollars, fulfilling a costly pledge to reimburse customers if France won the World Cup.
Vatti, one of the French team’s sponsors, is coughing up after Didier Deschamps’ side beat Croatia 4-2 in the final in Moscow a fortnight ago.
According to Vatti’s latest figures, the Chinese firm has made refunds — either in cash or gift cards — of more than 62 million yuan.
And the cost to Vatti of the success of “Les Bleus” does not stop there, with a portion of refunds still outstanding.
The total payout over the marketing stunt will amount to nearly $12 million.
Vatti, founded in 1992, promised before the World Cup to refund customers who bought their “Championship Package” of selected products if France lifted the trophy.
Vatti stock dived as France made their way through the tournament, but the firm is publicly sanguine.
“The amount to repay could be very significant, but it was included in our annual budget. It will not have huge consequences on the company,” Wang Zhaozhao, a Vatti representative, previously told the China Securities Journal. — AFP

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