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The BSP and Inflation: What Mission Creep?

The inflation rate reached 5.2% in June 2018 following 4.6% the month before. The June level is the highest in five years and breached the price target ceiling. Critics are lashing about to find fault. Demonizing TRAIN 1 is everywhere in the media and talks of rejiggering the act is afoot. Sadly, President Duterte revealed that he would leave the fate of his regime’s cornerstone economic program to a Congress that is facing midterm elections! That seems to leave his economic team in a lurch. Meanwhile, the detractors have extended the compass of their blame game to the BSP.
Even Senator Grace Poe, normally better advised and more circumspect, lent her pulpit to the finger pointing.
In May and again in June 2018, BSP raised the policy interest rate by 25 basis points. Banks have lined up to take advantage and have tendered upwards of P125 billion for the P100-billion BSP term deposit auction offers. Critics say that the BSP has sat on its hands and that the BSP should have preempted the subsequent inflationary pressure. Speculation has it that this represented a departure from the BSP’s primary mandate of price stability, and in favor of growth ? a “mission creep,” screamed the PDI editorial (PDI, 2 July 2018) which dignified these brickbats. It insinuated that BSP Governor “Nesting” Espenilla’s personal bias was subverting the mandate of the BSP only to leave a blot on the BSP’s admirable past performance. The critics and PDI are however patently wrong on many counts.
Firstly, when the price spike is due to a cost push (food, coal tax and higher transmission charge, rice and NFA failure, wages and “endo”) which PDI editorial conceded, the BSP’s capacity to combat the root of the spike is very limited. A more aggressive BSP interest rate hike would only raise costs and inflation further. Indeed, the May and June policy rate hike is aimed at dampening the inflation expectation; as well, it serves to mitigate the effect of US rate hike which would surely pull portfolio capital away from the country. Only when the price spike is demand-driven has an interest rate hike considerable leverage at removing root cause — excess liquidity. The latter is hardly the case here.
Secondly, to say that the BSP should have anticipated and preempted all the factors contributing to the current inflationary pressure is a counsel for recklessness. Knowing that an event such as the US interest rate hike is forthcoming is hardly sufficient if how much is the hike and when it comes are up in the air. You need the how much and when to formulate a proper response. The BSP is not God!
Thirdly, the TRAIN version of the DoF, which was public knowledge — and for which the DoF inflation impact simulation was based — did not include the coal tax and the lifting of the VAT-free status of power transmission, which raised electricity bills quickly. This was the folly of Senator Angara and the Senate, which nobody anticipated, but which President Duterte could have and should have vetoed to protect the integrity of the program.
Fourthly, to claim that the BSP and its top brass “have performed admirably for most of its quarter century existence” is a false claim to make the current dispensation look bad. On prices alone, inflation from 1993 (when the new BSP law was enacted) to 2001 averaged 7.4% annually. An annual inflation of 8-9% was something you took in stride in the 1990s. The average annual inflation for the following nine years (2003-2010) was 5.5%. This was above the inflation targets at that time. What record is Gov. Espenilla’s performance a blot on? In those nine years up to 2010 following the adoption of inflation targeting under Gov. Tetangco’s watch, inflation breached 6% four times.
Furthermore, it is a matter of record that the BSP, under Gov. Gabriel Singson, told private business (complaining of BSP’s high interest rate regime to keep the peso from depreciating) to source their borrowing from abroad in dollars. This created the massive currency mismatches which shredded Philippine banks’ balance sheets and the country economy’s vitality during the Asian financial crisis. It was the Jobo bill era surreality reprised: while the Philippine economy was dying of credit starvation, the country’s banks became obese from riskless and high interest placements in the BSP’s Special Deposit Account (SDA). To say that Governor Espenilla’s watch to date is a blot on this record stands evidence on its head.
It is however well known that monetary authorities both here and abroad have, in the past, used — and still do — a high interest rate regime to dampen inflation. High interest rate attracts portfolio capital which, like steroids, artificially bulks up the local currency, cheapening imports, and dampening the inflationary pressure.
Before the era of open capital account, the strong currency-cheap imports nexus was almost canonical to our monetary and fiscal authorities until the 1990s. As chief prop for the “beauty parlor industrialization policy” in the 1950s and 1960s, it saw assembly plants sprout which depended on artificially cheap imported inputs. The result was a “missing middle” problem: the intermediate inputs industry never developed. Why, indeed, produce intermediate inputs when you can import them cheaper! Philippine manufacturing and industrialization remained skin-deep and stunted. Why the Philippines moved from top to bottom in the East Asia economic league table is not a mystery.
In the era of open capital account and interest rate parity theory of the 1990s, the strong peso-cheap import nexus acquired a new ally, mobile capital. Now high interest rate can be enlisted to prop up the peso. The “high interest rate-strong peso-cheap imports” nexus was the rapier that BSP Governor Gabriel Singson wielded in the mid-1990s resulting tragically on the abortion of the hopeful Ramos recovery.
A broadly similar turn of events happened a decade ago when high global grains price spiraled and the global financial crisis came calling in Philippine shores. Let me quote the late former BSP Board member and UP Professor Cayetano “Dondon” Paderanga’s perceptive ruminations (“Slowly but surely,” Introspective, BW, 11 August 2008) on the subject.
“The Bangko Sentral ng Pilipinas (BSP) is under fire these days over its policy moves in fighting inflation. Though its rate hikes are perceived to be in the right direction, some quarters believe that the central bank is acting too slowly, putting its credibility and, consequently, the economy at risk. At the center of the debate are its policy rate changes which were done fairly recently and on a staggered basis.”
At that time of writing in August 2008, core inflation reached 5.8% year-to-date compared to 2.8% in 2007. By yearend, inflation was eight percent! There was a clamor for an “interest rate cure,” a large determined hike in the policy rate. Dr. Paderanga observed that increasing interest rates drastically may dampen an overheating economy if inflation was a demand-pull variety. But the inflationary pressure at this time came from the supply side: fuel prices have risen and global food prices have shot up. Paderanga thought the BSP was right in being cautious. He further observed that the use of the interest rate cure (very high interest rate) to mitigate capital flight in the 1980s under then-Central Bank of the Philippines Governor Jobo Fernandez brandishing the infamous “Jobo bills” led to a massive credit squeeze that reduced supply of just about everything, thus, worsening inflation. It was surreal: while the country’s business starved of credit, the banks that bought Jobo bills grew fat. Dr. Paderanga’s, though a blast from the past, poses the question: What mission creep?
 
Raul V. Fabella is a retired professor of the UP School of Economics and a member of the National Academy of Science and Technology. He gets his dopamine fix from hitting tennis balls with wife Teena and bicycling.

Deriving value from E-Learning platforms

Business is an ever-changing landscape. It finds ways to create assets, improve what has been already done, and maximize utility at the least possible cost.
What organizations often disregard is the value of knowledge and training — the value of creating an avenue for delivering knowledge to the workforce. Even the “delivery” of such knowledge and training has to find a way to transcend the traditional channels of delivery of knowledge and training (like face-to-face trainings), and to maximize existing technology. This has paved the way for the emergence of Electronic-Learning or E-Learning, an alternative method of learning and training for members of an organization.
E-Learning provides a platform for people to locate and consume learning and development content.
It may also function as a feedback mechanism where users can evaluate which methods or training are effective. It is also a method for an organization to know which strategies and competencies they need to focus on.
The E-Learning platform’s goal is to provide training and development, anytime and anywhere. It also offers more than what a classroom seminar can provide which may be good for theory, but oftentimes fails to pique the interest of the audience. An E-learning platform, on the other hand, is able to adopt to different learning strategies a person/user has (visual, aural, etc.). It also engages the user to learn more because of an interactive approach, and the simulation of problems which may actually happen in real life.
It cannot be overemphasized that the growth of an organization is dependent on the competence of its human resources or workforce. Human capital is the most fundamental source of intangible assets that, when properly utilized and translated, can create property for the advantage of the organization.
If looked at closely, the establishment of an E-Learning platform is a strategy for the company to take full advantage of one of its biggest assets — human capital.
The interplay of the relationships between creating and managing an E-Learning platform may create legal implications for an organization.
If left unheeded, an organization may suffer the loss of important intangible assets they which they failed to protect, or otherwise exploit. These intangible assets can be developed into Intellectual Property which include copyright and related rights, trademarks, services marks and patents, among others. Organizations merely see the protection of intangible assets as cost, but what they often fail to see is the opportunity of deriving value once assets turn into intellectual properties. Thus, an Intellectual Property Strategy is necessary.
An important part of creating an Intellectual Property Strategy is identifying the possible intellectual property assets involved in order to recognize what should be protected, utilized, or abandoned. Most assets in an E-Learning platform can be subject to copyright which is defined as “works” or “original intellectual creations in the literary and artistic domain protected from the moment of their creation,” as cited in the Intellectual Property Code of the Philippines.
education
These materials, however, are not only limited to those in the artistic domain but also include “computer programs” and “other literary, scholarly, scientific and artistic works.”
Thus, the training modules or materials (also called E-Learning modules) and the translation of these modules into codes to produce different interactive platforms (mobile apps, games) may be considered as the subject of copyright. It must be noted though that an idea, concept, and the operation itself cannot be subject of copyright based on Section 175 of Republic Act No. 8293 or the Intellectual Property Code.
The next step after asset identification is identifying the owner of such asset. Generally, a copyright is owned by the author of the work, unless otherwise stipulated. If there are joint authors then the co-authors, in the absence of an agreement, shall be governed by the rules on co-ownership found in the Civil Code of the Philippines.
If the work is created in the course of employment, the employer owns the asset if its creation is one in the regularly-assigned duties of the employee, unless there is an express or implied agreement to the contrary.
In case of work-commissioned or those who, other than an employer, pays for the work to be done by another person pursuant to the commission, copyright belongs to the creator and the one who commissioned the work only owns the work, meaning the copy of that work, unless there is a written stipulation to the contrary.
It is important to note, though, that all of these parties are bound by contract. Our legal system does not prohibit freedom to contract, as long as it is not contrary to law, public policy, public order, good customs or morals.
Thus, parties can freely stipulate to whom the intellectual property belongs to; and this is without prejudice to other contracts that parties may enter into for the creation and the management of the work.
For the organization to protect itself, a contract must clearly state that for whatever is created for the organization, the underlying copyright belongs to the organization. If this is not possible, then other stipulations can be agreed upon with similar effect. The bottom line is that, in dealing with creators, everything should be clearly stipulated. If it has been established that the company owns an asset, the underlying copyright may be registered to prove such ownership.
The third step in the strategy is leveraging the asset. As stated, training modules and the codes for how they translate such modules into user-friendly and interesting E-Learning platforms can be a potentially valuable IP asset.
Once properly developed, these assets may be licensed out to other organizations which may want to use E-learning platforms as well. This is, however, without prejudice to classified information which the company cannot divulge because it gives the company a competitive advantage.
E-Learning is an emerging concept in the Philippines; but because of its cost-efficiency and effectiveness, it is an industry worth pursuing in the future as a stand-alone business. The bigger challenge now is finding a market that wishes to avail of the same. Hopefully, upon proving the worth of E-Learning, more organizations will choose to adopt the same.
This article is for general informational and educational purposes only and not offered as and does not constitute legal advice or legal opinion.
 
Joan Janneth M. Estremadura is an Associate of the Intellectual Property Department (IPD) of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).
jmestremadura@accralaw.com
(02) 830-8000.

Fate of the peace process hangs in the balance

Two years into the Duterte administration, trepidations on the fate of the peace process continue. The proposed Bangsamoro Basic Law (BBL), the political translation of the Comprehensive Agreement on the Bangsamoro (CAB) signed in 2014, hangs in the balance. This week, the Bicameral Committee starts deliberation on the Senate and House version of the BBL.
Among the contentious issues are (a) the fiscal autonomy of the autonomous government, in particular the conditions on the proposed Block Grant; (b) the powers of the autonomous government vis a vis the national government; (c) security matters like policing and decommissioning of armed MILF; (d) control of inland waters; and (e) areas that will be included in the plebiscite.
The BBL has been in a seesaw ride ever since it was crafted. The first time it was submitted to Congress, it was seriously derailed by the Mamasapano incident in January 2015. It failed to pass as a law. This 17th Congress, proponents are again pushing for its passage, but the federalism agenda by the administration looms in the background, threatening its derailment once again.
Yet, the President made a commitment — BBL will be passed first before federalism, easing the anxiety of BBL proponents.
But a week before the Bicameral Committee is set to discuss the Senate and House versions of the BBL, the Constitutional Commission passed the proposed Federal Constitution, creating once again worry that the BBL will be overshadowed by it.
Juxtaposed with the slow-climb of the BBL is the increasing threat of terrorism in the ARMM area, with the confrontation in Marawi as its most serious attempt. The Daulah Islamiya Wilayatul Mashriq (DIWM) alliance by the Abu Sayyaf Group (ASG)-Basilan, Maute Group, and the Bangsamoro Islamic Freedom Fighters (BIFF) must be regarded as a serious concern since it has facilitated the geographically and ethnically separate groups to work as one. The fact that the ISIS-inspired Daulah alliance roused these groups to transcend their primary layer of identity (Tausug, Maranaw, and Maguindanao) and work together to capture Marawi as their wilayat or controlled territory is a serious matter.
While the leadership of the Daulah alliance has been crippled with the death of Hapilon and the Maute brothers in October 2017, recent reports declared that a new leader has emerged.
Note that terrorist organizations’ areas of operation dangerously intersect with the areas populated by MILF and MNLF members, creating a fertile condition of cross-pollination of ideologies and grievance. The longer that the proposed Bangsamoro Basic Law (BBL) is derailed, the more it can fuel frustration, allowing terror groups to use it to radicalize dissent.
It is hence crucial for a CAB compliant BBL to be passed into law as proof that political settlement actually produces positive results, if only to mitigate the possibility of disgruntlement in the ranks of MILF and MNLF, and feed on the manipulation by and eventual recruitment of terrorist organizations.
PEACE TALKS WITH COMMUNIST REBELS
How about the peace process with the Communist Party of the Philippines/New People’s Army/ National Democratic Front?
The negotiations with the CPP/ NPA/NDF have been an on-and-off arrangement. The government has been negotiating with the group for 31 years now. Most, if not all, of the five-member panel of the NDF negotiating team are in their late 70s to mid-80s and have been away from the country for decades. They no longer have control of the organization they represent. Indicators abound that the NPA local commands, especially the Northeast Mindanao area are operating on their own. The CPP/NPA/ NDF is no longer a cohesive, unified communist armed movement — the great splits by the Cordillera Peoples Liberation Army (CPLA) in 1987, and the Rebolusyonaryong Partido ng Manggagawa–Pilipinas/Revolutionary Proletarian Army/Alex Boncayao Brigade (RPM-P/RPA-ABB) in 2000 has left the movement severely weakened; the Philippine military in fact asserts that the NPA has only about four thousand armed members to date.
Clearly it is no longer a force to reckon with; yet it must be noted that it still has ability to derail development and victimize communities through their “revolutionary tax” collections and subsequent punishment (e.g. destroying equipment) against those who are uncooperative.
In the 31 years of negotiation, peace agreement is nowhere near completion with the CPP/ NPA/ NDF. It is therefore valid to ask if negotiating with the Utrecht-based negotiators is the right approach. The local leadership of the NPA has been sending clear signals that it is them, not the NDF panel in Utrecht, who call the shots.
Instead of waiting for the local command(s) to formally declare a split from the party, it is necessary that they be recognized for what and who they really are. If the immediate objective of the government is to end armed violence that victimizes communities, local negotiations/ local peace dialogues should be seriously considered. Otherwise, the group might eventually splinter into smaller local armed groups that are dispersed in a number of villages, engaging in tactical alliances with criminal gangs and syndicates.
President Duterte has committed that his government will do everything in its power to pursue peace and political settlement.
While the peace agreement is not a “magic pill” that will deliver ‘peace,’ it remains to be one of the critical elements of the process. This writer is in full support of the Bangsamoro peace process and the passage of a CAB-compliant BBL; and is fully supportive of local peace negotiations vis a vis the CPP/NPA/NDF peace table, especially one that involves local communities affected by armed conflict in the forefront of negotiations.
 
Jennifer Santiago Oreta is Asst Professor of the Dept. of Political Science and Director of the Ateneo Initiative for Southeast Asian Studies.

Not quite the right laban

Laban Gilas Pilipinas! Puso! That is the fighting motto of the Philippine basketball team. Though the odds be great or small, but with heart so strong, Gilas Pilipinas will fight to win over all.
The odds indeed were great that evening of July 2 for the Australian Boomers were too tall. Fight the Gilas boys did just the same and they won. But it was a win that Pilipinas cannot be proud of.
Not that they engaged in a free-for-all. Brawls in basketball are inevitable. They break out in FIBA tournaments, in the Olympics, and in the National Basketball Association. Opposing players bump hard against each other, most of the time unintentionally, but sometimes deliberately. Deliberate fouls cause tempers to flare, ultimately fistfights.
RR Pogoy deliberately bumped Chris Goulding. That is basketball. It looked to me though Pogoy didn’t bump him hard enough to cause him to fall. But fall Goulding did, getting the referee to call “Foul!” That is basketball.
In retaliation for his fallen teammate, big Daniel Kickert blindsided Pogoy with a vicious elbow, not only knocking down RR but nearly knocking him out. When something like that happens in the NBA, the injured player is sent to the lockers for medical tests to determine if there is more serious injury.
The Gilas boys were not going to take that nasty blow on one of their own sitting down. They rose from their seats and ran after the Australian bully, naturalized Filipino Andray Blatche joining the hostile pursuit.
This is when “Laban Gilas Pilipinas!” meant “Fight, fair or foul!” and “Puso!” showed a dark color. Outsized and outplayed, but outnumbered Gilas Pilipinas were not. A coach and an official joined reserve players in ganging up on Australian players.
Jason Castro, Blatche, and other Gilas team members rained down punches and kicks on Goulding who was still flat on his back. Assistant Coach Jong Uichico not only joined the pummelling of Goulding, he dropped a chair on him. Brian Cruz hit Kickert from behind. Nathan Sobey was ganged up behind one of the goals by fans. An official hit him with a right hook while the player’s arms were held down by a fan. When he walked away from the melee Peter Aguilar, Japeth’s father, threw a chair at him.
When Sobey was walking towards his bench, Calvin Abueva and Terrence Romeo confronted him and knocked him down. Cruz and Mathew Wright chased a backtracking Australian player, both landing hard punches on the Boomer.
When fight broke out, Chot Reyes and team officials watched from the sidelines. In contrast, the Boomer coach and his assistants were restraining players on the bench from joining the fray. Assistant Coach Luc Longley, like a boxing referee, was bravely separating fighting players.
Longley blamed Chot Reyes for the incident. He accused Chot of inciting his players to act violently. During a huddle with his players, Chot was caught telling his boys: “Hit somebody. Put someone on their ass.”
The Gilas coach explained during an ESPN 5 Sports Center interview that his instruction was typical basketball lingo that means playing physical. He said: “Anyone who understands basketball, if you take offense with that statement, you don’t know basketball.”
Luc Longley is one person who can be safely said to know basketball thoroughly. He played for the University of New Mexico, an NCAA Division 1 school, for four years. He was a member of the Australian basketball team that participated in the Seoul, Barcelona, and Sydney Olympics.
He played in the NBA, first for the Minnesota Timberwolves. His coach there was Bill Musselman, who was known for his trademark intensity and who once said “Defeat is worse than death” because “you have to live with defeat.” He next played for the Chicago Bulls when legend Phil Jackson was the head coach and team members were Michael Jordan, Scottie Pippen, Steve Kerr, and bad boy Dennis Rodman.
He also played for Phoenix Suns under Danny Ainge who when he was a player nobody messed with. He last played for the New York Knicks under Jeff Van Gundy, the annotator of the NBA Finals.
Longley would have understood when Chot told his players to “hit somebody, put someone on their ass” if he had heard any of those NBA coaches give the same instructions to their players. But Longley took offense because he never heard the same words from his coaches.
Chot could have simply told his boys to foul. In fact, during live action, he was seen signalling his players to foul. He didn’t have to use what he calls basketball lingo.
Samahang Basketbol ng Pilipinas was hosting the game and offiicals of the body, including the chair, Senator Sonny Angara, were in the venue. None of them tried to restrain the local players or calm down the fans. It was only when order was restored and the visiting players had been mauled that SBP president Al Panlilio addressed the crowd to calm down and respect the Australian players.
To add insult to injury, ex-Gilas hero Marc Pingris took a selfie of the team members who were all smiles as if saying “we beat up those blokes real good, didn’t we?”
Hours after the unfortunate incident, early Tuesday morning in the Philippines, Basketball Australia Chief Executive Anthony Moore apologized for the involvement of Australian players in the brawl. As of Tuesday afternoon, no apology had been issued by SBP. Instead justifications and excuses were given by Chot and other team officials and supporters.
“This is our house!” says a Gilas Pilipinas poster. The 2023 FIBA World Cup will be held in that house. I wonder what sportswriters from other countries will label that house come 2023, The Rough House, The House with Flying Chairs, or The House Where Visitors Are Put on Their Ass.
 
Oscar P. Lagman, Jr. is a member of Manindigan! a cause-oriented group of businessmen, professionals, and academics.
oplagman@yahoo.com

Determined San Miguel goes 1-0 up over TNT

By Michael Angelo S. Murillo
Senior Reporter
THE defending champions San Miguel Beermen drew first blood in their Philippine Basketball Association (PBA) best-of-three quarterfinal series with the TNT KaTropa, taking Game One, 121-110, yesterday at the Smart Araneta Coliseum coming from behind.
Down by nearly two dozen at one point, the Beermen collectively showed grit and determination in coming back and pulling the rug from under the KaTropa.
TNT got off to a blistering start, racing to a 10-0 lead in the first minute and a half led by Jericho Cruz.
It will hold a 22-10 advantage by the six-minute mark before building a 22-point separation, 40-18, as the quarter wound up.
When the smoked cleared, the KaTropa held a 40-21 lead.
The Beermen played better to start the second quarter, slashing their deficit to as much as 13 points, 50-37, with over four minutes left in the period.
But the KaTropa would eventually nip the San Miguel run, going on a 10-4 run in the next two minutes to extend their lead to 60-41.
The Beermen though finished strong with a 7-2 run to cut down TNT’s lead to just 14 points, 62-48, by the halftime break.
San Miguel tried to build on its strong finish in the opening half to start the third frame, with Marcio Lassiter leading the charge.
But TNT kept staving off its opponent with its own fiery counters.
By the halfway of the quarter, the KaTropa continued to hold sway, 78-63.
San Miguel, however, was not to be deterred by it.
It sustained its pressure on the neck of TNT as the quarter progressed, tying the count at 86-all with six seconds to go.
But Terrence Romeo would give the lead back to TNT with a basket as the period expired, 88-86.
The start of the fourth period saw both teams having it nip-and-tuck.
The score was at 106-all with 5:11 to go before the Beermen went on a 13-0 run after to build a 119-106 crevice with 1:15 to go.
It was a run that proved to be too telling as TNT could not recover from it.
Renaldo Balkman led the way for San Miguel with 36 points while Roger Pogoy led TNT with 17.
“We had a big scare. We thought we could not recover from the big deficit we had early on. But our players showed the experience to handle it and thankfully we won,” said San Miguel coach Leo Austria after game.
Game Two of the best-of-three quarterfinal series between TNT and San Miguel is on Wednesday.
Meanwhile, games today will see the two other quarterfinal pairings — Rain or Shine Elasto Painters against GlobalPort Batang Pier and Alaska Aces versus Magnolia Hotshots Pambasang Manok.
Rain or Shine collides with GlobalPort at 4:30 p.m. while Alaska takes on Magnolia at 7 p.m. in the double-header set at the Smart Araneta Coliseum.
The top seeds Elasto Painters and Aces carry twice-to-beat advantages over their opponents in their respective pairings.

Two-time NBA champ Durant basking in latest title, promises to keep rising

By Michael Angelo S. Murillo
Senior Reporter
NEARLY a month since hoisting the Larry O’Brien trophy after his Golden State Warriors won their second consecutive National Basketball Association (NBA) title, superstar Kevin Durant said he is still in the process of soaking everything they had done since it was a product of their collective hard work even as he said that they are not about done, more so now with a souped-up roster.
In Manila as part of his promotional tour for Nike and his latest shoe, the KD 11, Mr. Durant said his second title with the Warriors was akin to a “perfect piece of art,” and that he takes special pride in it because it was something they really worked hard for all season long.
“[It was like] signing off on a perfect piece of art… We created this amazing masterpiece throughout the season. Now we can just chill and let it dry a bit, which is the whole summer, and get back to it again for next season,” said Mr. Durant when he met members of the local media for a brief session at Whitespace Manila in Makati on Sunday.
In winning the title for the 2017-18 NBA Season, the Warriors swept LeBron James and the Cleveland Cavaliers in their best-of-seven Finals series with “KD” averaging 28.8 points, 10.8 rebounds, 7.5 assists and two blocks per game en route to claiming the Finals most valuable player award anew.
THREE-PEAT
Now back-to-back champions, Mr. Durant said a third straight title is a goal for the Warriors but it’s something that is not a concern for them until after they are in a position to go at it.
“We have a championship team and that (three-peat) is a goal we want to reach. But we never really talk about it until we are there in the finals. If we start talking about it at the start of the season we will not get there. We have to put in the work and continue improving ourselves. Hopefully we get there,” he said.
Nonetheless, the nine-time NBA All-Star said they are excited of their chances for next season after surprisingly landing another All-Star player in big man DeMarcus Cousins, whose arrival he said could give them an added jolt of energy.
In an unexpected turn of events last week, Mr. Cousins, currently convalescing from an Achilles injury, signed with the Warriors for one year worth $5.2 million.
“On July 2nd things kind of change for us by adding somebody like DeMarcus to our team. I’m excited to work with him. I think it’s going to be a fun year for us, a new season for us,” Mr. Durant said of Mr. Cousins who played last year with the New Orleans Pelicans.
“I don’t see how everybody let him fall to us but I guess we ruined it. We need an injection of energy [for next season] and I think DeMarcus is going to provide that for us,” he added.
BASKETBALL JOURNEY
As for his own basketball journey, Mr. Durant, who had stops in Seattle and Oklahoma City before landing in Golden State, said it has been amazing and he is grateful of the opportunities given to him.
“It’s been like a movie. So many different emotions going through this journey. I’m just grateful that I’ve got to do so much with the game of basketball and it has changed my life forever. It’s just been amazing,” he said.
“[Moving forward] I’ll keep sharpening my tools, finding ways to help my team win. I want to keep it simple and have some fun,” Mr. Durant added.
While here in Manila, Mr. Durant took time as well to promote his latest signature kicks with Nike, the KD11, which boasts of the latest React foam for great cushion on the court, a rubber outsole, which safely cups the foot inside and even extends up to the sides for stability, and a plush, lightweight Flyknit finishes the upper to provide breathability, flexibility, and support.

South Korean Kim Sei-young wins Thornberry Creek in historic style

LOS ANGELES — South Korean Kim Sei-young smashed the LPGA 72-hole scoring record Sunday, winning the Thornberry Creek LPGA Classic with a stunning 31-under par total.
Kim, 24-under to start the day, fired a final-round seven-under par 65 on the par-72 Thornberry course in Oneida, Wisconsin.
Her 31-under total of 257 broke the LPGA’s 72-hole scoring record in relation to par of 27-under, first set by Swedish great Annika Sorenstam in 2001 and matched by Kim herself at the 2016 Founders Cup in Phoenix.
She also broke the record for fewest strokes over 72 holes of 258, achieved by Karen Stupples in 2004 and matched by Angela Stanford and Park Hee-Young in 2013.
“I really feel, like, unreal,” Kim said. “I never thought about shooting, like, 31-under. I really feel incredible.”
But the 25-year-old knew setting out on Sunday that she was within striking distance of the record, giving herself a goal of playing the final round without a bogey.
Kim’s only blemish all week was a double bogey at the par-three 17th on Friday.
Her 32 holes of birdie or better were yet another record — improving on the 30 sub-par holes in a tournament achieved previously by three players. — AFP

Veteran guard Denok Miranda thinks he’s not yet over the hill

UP against younger, faster and equally skilled counterparts, former PBA champion Denok Miranda believes he needs to work double time and be in tip-top condition once he plunges to action in the MPBL Datu Cup.
For three games, the former Far Eastern University stalwart has provided what was needed of him by expansion team Laguna Heroes-Krah, which posted its second straight victory capped by a huge triumph over the erstwhile unbeaten Navotas Clutch over the weekend.
“I motivated myself to be better everyday, every game,” Mr. Miranda told BusinessWorld. “But I’m not over the hill yet. I can still play.”
In their 74-61 triumph, Mr. Miranda contributed nine points, four rebounds, and four assists while providing the leadership for the young Heroes squad.
Head coach Alex Angeles added that Mr. Miranda’s leadership is something his team needed down the road.
“It’s good to have a leader like Denok. He makes everybody calm and set the direction for the team inside the court,” said Mr. Angeles.
Even rising star Ralph Olivares, a young player brought in by Mr. Miranda to play for the Heroes in the MPBL, is paying more attention on the grizzled veteran, knowing that he’ll get a lot of pointers.
“I’m focused everyday on practice because I know I could learn a lot from Kuya Denok,” added Mr. Olivares.
For Mr. Miranda, playing in a new league in the MPBL after spending playing in the PBA for 13 seasons, also means continuous commitment to the fans.
“There were fans who were not privileged enough to watch the PBA games, so here in the MPBL, these fans were still here supporting me so I continued to reach out to them,” added Mr. Miranda. — Rey Joble

Team USA clinches fifth straight FIBA U17 crown

THE United States’ dominance in Under-17 World Basketball continued after it bagged its fifth straight FIBA U17 Basketball World Cup title on Monday, defeating France, 95-52, in the final at the Technical University Stadium in Santa Fe, Argentina.
Displaying its full arsenal anew on both ends of the court, the Americans simply were too much to handle for the French as they ran away with the title.
Meanwhile, earlier in the day, Batang Gilas ended its campaign in the tournament with a win, beating New Zealand, 73-51, for its second straight victory to finish at 13th place in the 16-team field.
The US was unstoppable at the start of the final game, racing to a 23-14 lead after the opening quarter.
France made its move back to start the second canto only for the Americans to recover as the period progressed, tightening its grip to extend their lead to 45-25 by the halftime break.
The US onslaught continued in the second half, allowing little headway for a comeback to its opponent.
The third period ended with the Americans on top, 77-38, and the fourth quarter rendered an extended victory lap for the reigning champions.
Isaiah Stewart led the US with 15 points with De’Vion Harmon adding 14.
Romeo Weems and Filipino-American Jalen Green added 12 and 11 points, respectively.
France, for its part, was paced by Killian Hayes’s 10 points.
The US’ Green was later named tournament most valuable player after averaging 15.7 points, 2.3 rebounds, 1.7 assists and 1.4 steals.
Joining Green in the All-Star Five were his teammate Vernon Carey, Jr, France’s Hayes, Andre Curbelo from third-placed Puerto Rico and Mali center Oumar Ballo.
ON WINNING NOTE
Earlier in the day, the Philippine national boys team exited the U17 World Cup on a winning note with an impressive stand against New Zealand and finished at 13th place.
Broke through with its maiden victory in the tournament previously against Egypt, 70-69, Batang Gilas followed it up with another spirited showing with Kai Sotto once again showing the way with 22 points, 10 rebounds and four blocks.
The Filipinos had it strong in the middle quarters to create some distance from the Kiwis and never looked after.
Terrence Fortea added 12 points for the Philippines with Gerry Abadiano and Shaun Chiu chipping in eight points apiece.
Rence Padrigao only had four points but had a game-high nine assists.
Mitchell Dance led New Zealand with 12 points.
The 13th place by Batang Gilas was an improvement from the 15th place the Philippines was at in the 2014 edition of the World Cup.
The final ranking after two weeks of competition had the US, France and Puerto Rico in the top three, followed by Canada, Turkey, Australia, Croatia, Montenegro, Dominican Republic, Serbia, Argentina, Mali, the Philippines, New Zealand, China and Egypt. — Michael Angelo S. Murillo

England dreams of World Cup glory

MOSCOW — England on Sunday was looking forward to its first World Cup semifinal since 1990 as Russian fans thanked their disappointed players after their fairytale World Cup run was halted by Croatia.
Gareth Southgate’s young team swept Sweden aside 2-0 on Saturday, sparking mass celebrations in England, where at least 20 million people watched the match on TV.
They will face Croatia, who had to endure a strength-sapping penalty shoot-out for the second consecutive match, in front of 80,000 people in Moscow’s Luzhniki Stadium on Wednesday.
But first Roberto Martinez’s exciting Belgian side will attempt to reach their first ever World Cup final when they play favorites France in Saint Petersburg on Tuesday.
England is basking in the team’s run to the last four of the World Cup as fans start to believe that they can lift the trophy for the first time since 1966.
“Southgreat” trumpeted the Sun on Sunday. “Cry God for Harry, England and St. George!” said the Sunday Telegraph.
Goals from Leicester defender Harry Maguire and Tottenham’s Dele Alli sealed victory against Sweden in Samara while man-of-the-match Jordan Pickford made three outstanding saves.
“England’s players have guaranteed they will return from the World Cup as heroes. Now they can dream of a grander ambition. Can they come home as legends?” asked former England defender Jamie Carragher in a column for the Sunday Telegraph.
NO FIFA BAN FOR VIDA
Croatia defender Domagoj Vida escaped a FIFA ban on Sunday after posting a clip dedicating his country’s victory over Russia in the quarterfinals to Ukraine.
The former Dynamo Kiev player scored an extra-time goal and one of Croatia’s penalties in a 4-3 shoot-out win over the World Cup hosts in Sochi on Saturday.
The ponytailed 29-year-old shouted “Glory to Ukraine!” in a video posted by former Croatia international Ognjen Vukojevic shortly after the match.
FIFA said it had studied the video and decided to issue a warning to Vida but would take no further measures.
Vida told Russian media after the clip was made public that he had meant no offense. “I love Russian people,” Vida was quoted as saying. “It was just a joke.”
“Glory to Ukraine!” was a slogan of the former Soviet republic’s pro-EU revolution that toppled a Russian-backed president in 2014.
The revolt was condemned as illegal by Moscow and sparked a crisis in relations between the two neighboring states.
Looking forward to the match against England, Croatia coach Zlatko Dalic told a press conference on Sunday that the game would be more open.
Russian fans paid tribute to their team, who exited the tournament after their defeat on penalties following 120 grueling minutes of football.
The Russians were the lowest-ranked of the 32 teams at the World Cup but, just as in the previous round against Spain, they refused to die despite enjoying just 36% of possession against a superior Croatian team.
Coach Stanislav Cherchesov led his players onto a stage to a heroes’ welcome in a Moscow fan zone. — AFP

WIM Shania Mae Mendoza

19th ASEAN Age Group
Championships Girls Under-20
Davao City, Philippines
June 19-24

1. WFM Shania Mae Mendoza PHI 2114, 7.5/9
2-3. WFM Dita Karenza INA 1942, Ella Grace Moulic PHI 1829, 6.5/9
4. WCM Kylen Joy Mordido PHI 1863, 6.0/9
5-8. Marifel dela Torre PHI 1677, WIM Nguyen Thanh Thuy Tien VIE 2011, WFM Vu Thi Dieu Ai VIE 1829, WFM Nguyen Thi Minh Oanh VIE 1882, 5.0/9
9. Viona Nepascua PHI, 4.5/9
10. Vo Thu Thuy Tien VIE 1789, 4.0/9
11-12. Zsuzsa Grace Tabudlong PHI 1649, Laila Camel Nadera PHI 1715, 3.0/9
13. Jearaine Chato PHI 2.0/9
14. Vebien Rafales PHI, 0.0/9
Time Control: 90 minutes for the entire game with 30 seconds added after every move starting move 1.

Shania Mae Mendoza
WIM Shania Mae Mendoza

June has been a great month for Ms. Shania Mae Mendoza. She won the Philippine Women’s Championship in Alphaland Makati, and then enplaned for Davao where she won the ASEAN Under-20 Championship. This brought with it the automatic Woman International Master (WIM) title as well as a Woman International Grandmaster (WGM) title norm. Two more norms and she will get the full WGM title.
The Philippines does not have a whole lot of titled women players. So far, there are:
Woman Grandmaster (WGM): Janelle Mae Frayna
Woman International Master (WIM): Jan Jodilyn Fronda, Chardine Cheradee Camacho, Girme Fontanilla, Bernadette Galas, Cristine Rose Mariano-Wagman, Beverly Mendoza, Marie Antoinette San Diego, Catherine Secopito, Mikee Charlene Suede
Woman FIDE Master (WFM): Shercila Cua, Sherily Cua, Allaney Jia Doroy, Rulp Ylem Jose, Sheerie Joy Lomibao, Cherry Ann Mejia, Shania Mae Mendoza, Samantha Glo Revita, Michelle Yaon
Woman Candidate Master (WCM): Christy Lamiel Bernales, Mira Mirano, Kylen Joy Mordido.
We can now happily remove Shania’s name from the list of WFM and add her to the rolls of the Woman International Masters. This still has to be confirmed in the next FIDE Assembly but there is no problem here as it is an automatic title awarded to the ASEAN Under-20 Champion.
Also, lest we forget, Indonesia’s Dita Karenza and Davao native Ella Grace Moulic tied for second and were both awarded the silver medals, automatically making the La Salle 4th board Ella Grace Moulic a Woman FIDE Master (WFM).
Ms. Shania Mae sent me two games with her notes. I am delighted to share them with BW readers.

Mendoza, Shania Mae (2114) — Moulic, Ella Grace (1829) [B12]
ASEAN ch Under-20 girls Davao City (4), 21.06.2018
[Shania Mae Mendoza]

1.e4 c6 2.d4 d5 3.e5
In previous games I had a hard time dealing with 3.exd5 cxd5 4.Bd3 Nc6 5.c3 Qc7 so this time I chose to change my preferred line.
3…Bf5 4.h4 h6
Some people prefer to play 4…h5 here. On the one hand it stops White’s pawn offensive on the kingside. On the other hand though it weakens the g5–square and the h5–pawn may become a weakness. I guess it is a matter of taste whether Black chooses to move the h-pawn to h6 or h5.
5.g4 Bd7 6.h5
I was inspired by Caruana’s move in his game against GM Erwin L’Ami. 6.h5 prevents the possibility of black to play h5 and to have an outpost on f5 for his knight.
The variation 6.Nc3 e6 7.Be3 c5 8.f4 Nc6 9.Nf3 was the line that I previously played.
6…e6 7.f4 c5 8.c3 Nc6
The Caruana game continued 8…Qb6 9.Nf3 Bb5 10.Bxb5+ Qxb5 11.Na3 Qb6 12.Qa4+ Nc6 13.Nc2 cxd4 14.cxd4 Qa5+ (this is probably a mistake. Black should keep queens on the board as the White King is exposed) 15.Qxa5 Nxa5 16.Ke2 Ne7 17.b3 Rc8 18.Kd3 White went on to dominate the board on both sides and bring home a nice win. Caruana,F (2781)-L’Ami,E (2627) Wijk aan Zee 2013 1–0 53.
9.Nf3 Qc7?!
I prefer 9…Qb6 instead of 9 …Qc7 because it only helps White’s development. 10.Rh2 cxd4 11.cxd4 Bb4+ 12.Nc3 Nge7 13.a3 Bxc3+ 14.bxc3 Na5 followed by Rc8.
10.Be3 Qb6 11.b3
[11.Rh2 is also possible]
11…cxd4 12.cxd4 Rc8 13.Rh2 Bb4+ 14.Kf2 Na5 15.Kg1 Bc3
[15…Bb5 16.Bxb5+ (or 16.Rg2) 16…Qxb5 17.Rc2 White is better]
16.Nxc3 Rxc3
White is better in this position because of the lead of development and space advantage of white.
17.Qe1 Rc8 18.Rf2 Ne7 19.Bd3 Nac6 20.Rd1
My plan is to play Bb1, Nh4 and f4–f5 to open up the position in the kingside and exploit Black’s weaknesses.
20…Kd8
Ella Grace sees the gathering storm in the kingside and decides to transfer her king to the queenside.
21.Bd2 <D>
POSITION AFTER 21.BD2
21…Kc7
After 21…Nxd4 there is a nice trick: 22.Nxd4 (22.Ba5?? does not work because of 22…Nxf3+ 23.Kf1 Nxe1 24.Bxb6+ axb6 25.Rxe1 Black has an extra knight and pawn) 22…Qxd4 23.Ba6! Qc5 (23…Qb6?? 24.Ba5) 24.Bxb7 Rb8 25.Ba6 White has grabbed a clean pawn.
22.b4
It turns out that the Black King is not safe either on the queenside!
22…Kb8
[22…Nxd4?? 23.Nxd4 Qxd4 24.Be3+– the queen is trapped]
23.Bc3
I didn’t want to risk anything but when I got back to my quarters I analyzed 23.b5! Nxd4 24.Nxd4 Qxd4 25.Bb4 Rhe8 26.a4 and White’s position is very strong.
23…a6?
She shouldn’t have allowed me to play a2–a4 without any resistance. The move 23…Nd8 would have kept on fighting.
24.a4 Na7 25.b5 axb5 26.Ba5 Qa6 27.Bb4 Rc4
No choice. 27…Nec6 28.Bd6+ Ka8 (28…Rc7 29.axb5 Nxb5 30.Ra1 Qb6 31.Bc5 wins the queen just the same) 29.axb5 Nxb5 30.Ra1 wins Black’s queen.
28.axb5 Bxb5 29.Bxc4 dxc4 30.Bxe7
The game is already ripe for resignation.
30…Nc8 31.Bb4 Qc6 32.Ra1 Ba4 33.Bc5 b5 34.Qa5 Qb7 35.Kg2 Na7 36.Qc3 Kc8 37.Rb2 Qa6 38.Bxa7 Qxa7 39.Rxb5 1–0

Karenza, Dita (1942) — Mendoza, Shania Mae (2114) [C56]
ASEAN ch Under-20 girls Davao City (3), 20.06.2018
[Shania Mae Mendoza]

1.e4 e5 2.Nf3 Nc6 3.d4 exd4 4.Bc4
I didn’t expect this. 4.Nxd4 was the move that she always plays after which the game can go 4…Nf6 5.Nxc6 bxc6 6.e5 Qe7 7.Qe2 Nd5 8.c4 (Word of warning, I have seen people play the move order 8.Nd2 first before 9.c4. This is inaccurate because of 8.Nd2 g6 9.c4 Nf4! this move is possible because White’s knight is on d2. 10.Qe3 Bh6 11.Qc3 Bg7 12.Nf3 Ne6 13.Bd3 f6 Black is better) 8…Nb6 9.Nc3 Ba6 intending to follow up with Qe6, Bb4 and d7–d5. According to the Greek openings expert Nikolaos Ntirlis (“Playing 1.e4 e5”) this line is the main reason why elite players’ enthusiasm for the Scotch has stalled.
4…Nf6 5.e5 d5 6.Bb5 Ne4 7.Nxd4 Bc5 8.0–0?!
Ntirlis says that 8.Be3 is the only way for White to maintain equality. Why? I’m afraid you have to buy Ntirlis’ book to get the answer.
8…0–0 9.Nxc6
The same Ntirlis points out that 9.Bxc6 bxc6 10.Nxc6 (10.Be3 Qe8! “White must worry about several ideas, including Qxe5, f7–f6 and Ba6.”) 10…Qd7! 11.Nd4 Qe7! 12.Bf4 f6! is already better for Black, as per Neuvonen-Timmerman, corr 1991. “Timmerman is a living legend among correspondence players and I always trust his analysis in the open games, as he never wastes a chance to punish an opponent for venturing a dubious sideline.”
9…bxc6 10.Bxc6 Ba6!
We are still in Ntirlis’ book! After I played this move my opponent spent about 30 mins figuring things out but wound up worsening her position.
11.b4
Alternatives:
11.Qxd5 Bxf1 12.Qxe4 (12.Kxf1 Qh4 White should resign) 12…Bb5! 13.Nc3 (13.Bxb5 Qd1+ 14.Bf1 Qxc1 winning) 13…Bxc6 14.Qxc6 Bd4 15.Bf4 Rb8! 16.b3 Qe8 17.Qf3 Rb6 Black is better;
11.Bxa8 Bxf1 12.Be3 (12.Kxf1 Qh4 13.Qf3 Rxa8 Black is clearly better; 12.Bxd5 Bc4 Black is winning) 12…Bxe3 13.fxe3 Bxg2! 14.Qg4 (14.Kxg2? Qg5+ followed by Qxe3) 14…Bh3 15.Qxh3 Qg5+ 16.Kf1 Rxa8 Black is likewise winning.
11…Bxb4 12.Bxa8 Bxf1 13.Kxf1 Qh4
In this position I have a huge advantage.
14.Be3 Rxa8 15.h3 Rd8 16.Bxa7? c5! 17.Qe2 Qe7 18.Bb6 Qxe5 19.c3 Qh2 20.Qb5 Nd6 21.Qc6 Re8 22.Qxe8+ Nxe8 23.cxb4 Qh1+ 24.Ke2 Qc1 0–1
Very impressive. I think it is only a matter of time before she becomes the Philippines’s second WGM after Janelle Mae Frayna.
 
Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant (CPA), he taught accounting in the University of Santo Tomas (UST) for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.
bobby@cpamd.net

Bulls stuck in ‘No Man’s Land’

Heading into the offseason, the Bulls privately expressed optimism that they would be able to re-sign free-agent-to-be Zach LaVine to a reasonable contract. Bolstering their positive outlook was the fact that he began his 2017-18 campaign recovering from an anterior cruciate ligament tear and ended it with knee tendinitis, managing to play only 24 games in between. His youth gave him value, but his reliance on his athleticism to prop up his offense and seeming absence of interest at the other end of the court were red flags that they felt would give potential suitors pause.
As things turned out, the Bulls did have competition for LaVine’s services. In fact, the Kings’ offer of $78 million over four years made him a strong candidate for departure. For all his upside, he didn’t appear to be worth burning close to a fifth of their salary cap on. That said, they knew they ultimately had no choice but to match the numbers. Letting him walk away with nothing in return would serve to further alienate a fan base who thought they got pennies to the dollar when they sent lone All-Star Jimmy Butler to the Timberwolves last year. He was the centerpiece of their returns from that deal, never mind that it also netted them All-Rookie First Team selection Lauri Markkanen and eventual starter Kris Dunn.
Certainly, the Bulls were as shocked as the rest of the world when the Kings sought to lure LaVine with the generous terms. After all, the latter already had Buddy Hield and Bojan Bogdanovic playing the same position. In any case, the incumbent employers acted accordingly, prompting the two-time Slam Dunk champion to change his tune from “disappointed that I had to get an offer sheet from another team” to “can’t wait to get back on the court with my brothers in front of the greatest fans in the world.” His emotions went from one extreme to the other in less time than it took for Lazarus to rise from the grave.
The good news is that the Bulls remain significantly under the cap even counting LaVine’s paychecks. At the very least, their favorable position gives them the leeway to plot their strategy moving forward. With the East suddenly more open following LeBron James’ exit, they could ramp up their recruitment and take in more costly talent in hopes of improving their lot. Alternatively, they could go the conservative route and strike only when marquee pieces are on the board.
On the flipside, the Bulls don’t quite possess the cachet to entice big names — not with general manager Gar Heard’s spotty slate across the table, and not when LaVine is the best they can show on the floor. Which, in a nutshell likely keeps them stuck in No Man’s Land, not too bad to snag valuable lottery picks, but not too good to realistically cast a moist eye on the hardware. In stifling the Kings, they may have simply prolonged their agony.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

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