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RCBC unveils online forex trading platform

Rizal Commercial Banking Corp. (RCBC) has launched an online platform allowing its clients to buy and sell local and foreign currencies.
In a statement Wednesday, July 5, RCBC said it has launched the Online FX Trading Platform, the first and only online foreign exchange execution platform in the country.
“[The platform eliminates] the need for face-to-face or over-the-phone transactions when exchanging foreign currency,” the Yuchengco-led bank said.
For clients to make use of this platform, RCBC clients have to enroll at least two different currency accounts through RCBC’s online banking platform.
Once eligible, clients can buy and sell between their enrolled accounts major currencies such as US dollar, Euro, British pound, Japanese yen and Singaporean dollar among others. — Karl Angelo N. Vidal

MPTC eyes August to conduct tender offer for PT Nusantara shares

Metro Pacific Tollways Corp. (MPTC) targets to get the green light from Indonesian authorities for the conduct of a tender offer in favor of minority shareholders of infrastructure firm PT Nusantara Infrastructure Tbk by August.
“We are filing sa Indonesia with their SEC (Securities and Exchange Commission). Yun ang magde-determine ng actual, it should be August when we get the final clearance sa Indonesia,” MPTC President and Chief Executive Officer Rodrigo E. Franco told reporters in an interview on Wednesday, July 4.
The Indonesian counterpart for the SEC is called the Financial Services Authority. — Arra B. Francia

TransUnion says record-low delinquency rates driving consumer lending growth

TransUnion Philippines expects sustained lending growth given record-low delinquency rates and despite rising interest rates, with the credit scorer eyeing to capture small businesses in its roster by next year.
TransUnion president and chief executive officer Pia Arellano said in a media briefing on Wednesday, July 4, that consumer lending is expected to sustain rapid growth over the coming years.
“There’s been a very healthy more than 20% increase in total limits extended and total outstanding balances, and even delinquencies have been at an all-time low,” Ms. Arellano said in a media briefing on Wednesday. “Delinquency is managed but portfolios are growing, so that’s definitely a good sign as far as credit is concerned.”
Consumer loans reached P1.527 trillion as of March, up 16.8% from a year ago according to the Bangko Sentral ng Pilipinas. Of the amount, only four percent or P61.048 billion are considered as problem debts.
The credit bureau is also looking to capture data from non-bank institutions to enhance their credit scoring models such as utilities and mobile phone payments. They are likewise eyeing to roll out a credit scores specific to SMEs. — Melissa Luz T. Lopez

Stocks rally as investors hunt for bargains

By Arra B. Francia, Reporter
Local stocks climbed on Wednesday as investors continued to search for bargains given the main index’s historically low valuation.
The benchmark Philippine Stock Exchange index (PSEi) climbed 1.12% or 81.08 points to 7,348.42. The broader all shares index likewise rallied 1.003% or 44.21 points to 4,454.04.
“I think it’s primarily driven by broad bargain-hunting since the index is already trading at the low end of its historical valuation range. Investors might have also positioned in anticipation of a positive inflation release tomorrow,” China Bank Securities Corp. Research Director Garie G. Ouano said in a text message.
This is the first time the PSEi managed to stay in positive territory for four consecutive sessions since February, when the market was trading around the 8,600 level.
“Potential inflation surprises notwithstanding, I do think the rally is sustainable since the index is cheap already and a lot of the risks previously seen are short-term in nature,” Mr. Ouano said.
The mining and oil sector was the lone sub-index that suffered a loss, giving up 0.43% or 42.18 points to 9,669.62.
Services led advancers as the counter soared 1.93% or 26.83 points to 1,418.27, followed by property with an increase of 1.75% or 62.24 points to 3,625.24. Holding firms went up 1% or 71.59 points to 7,252.76; financials rose 0.61% or 10.98 points to 1,798.59, while industrial climbed 0.18% or 18.40 points to 10,465.87.
Some 590.0 million issues switched hands, resulting to a turnover of P4.94 billion, staying just above the P4.8-billion turnover on Tuesday.
The market saw an equal number of advancers and decliners at 100 stocks each, while 56 names ended flat.
Investors continued to pluck up select large cap stocks. Shares in SM Investments Corp were the most actively traded resulting to a 1.09% increase to P925 each. Ayala Corp followed with a rise of 1.42% to P928 apiece, while SM Prime Holdings, Inc.’s shares gained 2.78% to P37 each.

England ends penalty pain to beat Colombia in shoot-out

MOSCOW — England held its nerve against Colombia to win their first-ever penalty shoot-out in a World Cup and reach the quarterfinals in dramatic fashion on Tuesday.
Eric Dier scored the decisive spot-kick to win the shoot-out 4-3 and send Gareth Southgate’s young team through to a meeting with Sweden, who earlier beat Switzerland.
A bad-tempered match at Moscow’s Spartak Stadium that featured eight yellow cards — six for Colombian players — ended 1-1 after 30 tense minutes of extra-time, meaning the game had to be decided by penalties.
The South American side, without injured forward James Rodriguez, appeared on the edge of reaching their second consecutive World Cup quarterfinal when Jordan Henderson’s effort was saved by Colombian goalkeeper David Ospina, keeping the score at 3-2.
But Mateus Uribe then rattled the crossbar and after Kieran Trippier leveled at 3-3, England goalkeeper Jordan Pickford saved from Carlos Bacca, extending his left arm to stop the ball as he dived to his right.
That gave England match point and Eric Dier made no mistake, beating the despairing dive of Ospina before he was mobbed by his teammates.
It is the first time England have won a shoot-out at a World Cup — and comes after six failures in seven attempts at major tournaments before Russia.
Southgate’s team were minutes away from victory during normal time but Yerry Mina rose to head home an equalizer from a corner and cancel out captain Harry Kane’s 57th-minute penalty.
The late, late goal deflated England and the momentum shifted visibly towards the South Americans, who started extra-time with a spring in their step.
“To get knocked down at the end like we did with that goal in added time, you know, it’s difficult to come back from that,” said Dier.
“But we did. We were ready for that. We knew what we had to do, we stayed calm, we stuck to our plan, we never panicked all the way through extra time. We knew that if it has to go to penalties, it has to go to penalties. We were ready for that.”
‘GIVES US BELIEF’
England, for so long underachievers on the international stage, are the only former winners left in the bottom half of the draw and, with Sweden up next, will fancy their chances of reaching the semifinals for just the third time in their history.
Pickford is the first England goalkeeper to save a penalty in a shoot-out at a major tournament since David Seaman at the 1998 World Cup against Argentina.
“It’s a great night to win a penalty shootout,” he said. “Ideally we don’t want to be going to a penalty shoot-out but we are delighted for the fans and the whole country.
“It gives us belief to go into the Sweden game.”
Kane’s penalty in the first half made him the tournament’s top scorer with six goals, two clear of Belgium’s Romelu Lukaku.
With Spain already ejected, England face Sweden in Samara on Saturday, with Russia and Croatia potential semi-final opponents.
Brazil and France lurk in the top half of the draw but Lionel Messi’s Argentina and Cristiano Ronaldo’s Portugal are out.
Even Prince William got caught up in the emotion, tweeting: “I couldn’t be prouder of @England — a victory in a penalty shootout! You have well and truly earned your place in the final eight of the #worldcup.”
FORSBERG STRIKES FOR SWEDEN
In the early game on Tuesday, RB Leipzig striker Emil Forsberg’s deflected 66th-minute shot took Sweden through to their first World Cup quarterfinal since 1994, with the Swiss unable to respond in Saint Petersburg.
Suspensions deprived Switzerland of key defender Fabian Schaer and captain Stephan Lichtsteiner, but they will be disappointed by their limp exit.
Sweden coach Janne Andersson said his side were not finished yet.
“We’re not satisfied with this,” he said. “We want to win the next match as well. If you start to lower the bar or your ambition that’s not going to be satisfying.
“Hopefully in the future I will look back on this with pride but for now, I focus on the next match on Saturday.”
Away from the drama in Russia, the German Football Association (DFB) confirmed that coach Joachim Loew will remain in his job despite the World Cup holders’ shock elimination in the group phase.
“I am very grateful for the confidence that the DFB has again shown in me and I feel a lot of support and encouragement despite the justified criticism of our elimination,” said Loew, who has been in charge for 12 years. — AFP

Argentina staves off Batang Gilas in thriller

By Michael Angelo S. Murillo, Senior Reporter
BATANG Gilas dropped its third straight game at the FIBA U17 Basketball World Cup on Wednesday but not after pushing to the limit host Argentina at the Newell’s Old Boys in Rosario. A battle of two winless teams in Group D of the tournament, the Filipinos crowded the hosts for much of the contest but just could not complete the task, slumping to the 74-71 defeat.
The two teams had it close to start the match before Argentina made a 14-7 run in the last five minutes of the opening frame to build a 20-13 lead at the end of the first canto.
Batang Gilas would find its offensive groove in the second quarter with Terrence Fortea leading the way.
It would outscore Argentina, 19-16, in the period to narrow its deficit to just four points, 36-32, by the halftime break.
The Philippines continued with its charge back in the second half, trailing by just two points, 58-56, at the end of the third period, and taking the lead altogether, 64-61, at the 7:15 mark of the fourth period after Fortea drained a three-pointer.
But Argentina regained its footing, going on a 13-4 run in the next five minutes to hold a 74-68 lead entering the last two minutes.
It tried to build on it but the Philippines would step up their defense.
Fortea pulled the Philippines three points closer, 74-71, with a trifecta with 27 seconds to go.
A passing error by Juan Cruz Scacchi gave the Philippines a window to tie the count and send the game into overtime, but three-point attempts by Kai Sotto and Gerry Abadiano as time expired failed to connect, handing the victory to Argentina.
Fortea and Abadiano led Batang Gilas with 17 points each while Sotto had 13 points, 15 rebounds and four blocks.
Argentina, meanwhile, was paced by Juan Francisco Fernandez with 15 points, followed by Ezequiel Paz and Agustin Cavalin with 11 and 10 points, respectively.
With the loss, Batang Gilas stayed in the cellar of Group D with a 0-3 record.
It will face undefeated and Group C top team Canada in the knockout Round of 16 early Thursday morning (Manila time).

Aussie coach Luc Longley blames Philippine ‘thugs’ for free-for-all

BRISBANE, Australia — Australian basketball legend Luc Longley Wednesday blamed the Philippines coach for a shocking on-court brawl in their World Cup qualifier, alleging he incited his players to act violently.
He also hit out at Filipino players for taking “gangster selfies” after the ugly clash.
The brutal melee in Manila involving players, fans and officials on Monday left the Australian team fearing for their safety, and they sought embassy help to fast-track their departure from the country.
They arrived home on Wednesday morning and assistant coach Longley, the first Australian to play in the NBA, where he spent 10 seasons, said the violence was the worst he had ever seen on court.
“I’ve never seen anything like that, not even on YouTube. I do believe that their coach Chot Reyes incited them to come out and thug us,” said Longley, who won three NBA championships alongside Michael Jordan at the Chicago Bulls.
“I think there’s video evidence of that. Then he substituted a thug out there, who took three or four cheap swings at ‘Bubbles’ (Chris Goulding).”
Thirteen players were ejected after the all-in fight between the Gilas Pilipinas and the Boomers in the third quarter, which was hashtagged #basketbrawl as footage and condemnation went viral.
What was already a bad-tempered game erupted in the third quarter when Philippine player Roger Pogoy knocked Goulding to the ground and Daniel Kickert retaliated by flattening Pogoy with a flying elbow.
Longley, who rushed to the aid of Goulding as he was set upon by a dozen Filipino players and officials, claimed Reyes was “embarrassed” by how his team was playing and urged them to hit back at the Boomers.
He pointed to footage of an angry Reyes during a time-out telling his players to “hit somebody.”
“He wouldn’t look me in the eye at the end of the game when I shook his hand, and I think he was embarrassed and… if you listen to his diatribe after the game, I think it verifies it,” said Longley in Brisbane.
“I’m upset with him more than anybody, and to let his team take selfies, gangster selfies on the line after an event like that, that shows total lack of control or respect.”
Basketball’s governing body FIBA has opened disciplinary proceedings against both teams.
Basketball Australia chief Anthony Moore has said his side accept responsibility for their part in the brawl while the Philippines federation offered apologies to fans and the basketball community, but not Australia.
Kickert, whose retaliatory elbow sparked the fight, said he regretted his actions, with a long suspension likely.
“I regret those things, but I’m going to let FIBA do everything they need to do, to take the time, go through the process and come to the answers that they see fit and bring down the sanctions,” he said. — AFP

Wimbledon: Former champs Sharapova, Kvitova crash out; Nadal, Djokovic through in first round

LONDON — Maria Sharapova suffered her first opening round Wimbledon defeat and earliest Grand Slam exit in eight years on Tuesday when she was shocked by fellow Russian Vitalia Diatchenko, the world no. 132.
Sharapova, the 2004 champion, was joined at the exit by 2011 and 2014 winner Petra Kvitova who was stunned by Belarusian world no. 50 Aliaksandra Sasnovich.
However, two-time men’s champion Rafael Nadal and three-time winner Novak Djokovic eased into the second round.
Sharapova was cruising to victory at one stage on Court Two with a set and 5-2 lead before qualifier Diatchenko shrugged off a back injury to win 6-7 (3/7), 7-6 (7/3), 6-4 after more than three hours of tense action.
Sharapova, playing Wimbledon for the first time in three years after missing 2016 through a drugs ban and 2017 due to injury, gave up the match on her 11th double fault.
It was her earliest exit at a Slam since a first round defeat at the 2010 Australian Open.
Eighth seed Kvitova was the bookmakers’ favorite for a third Wimbledon crown after winning five titles in 2018, including the grass-court tournament at Birmingham last weekend, while amassing an WTA Tour-leading 38 match victories.
But she slumped to a disappointing 6-4, 4-6, 6-0 loss to Sasnovich.
Kvitova is the fourth top 10 women’s seed to lose in the first round.
Number four Sloane Stephens and fifth-seeded Elina Svitolina were eliminated on Monday.
France’s Caroline Garcia, seeded six, was also beaten Tuesday, going down 7-6 (7/2), 6-3 to Switzerland’s Belinda Bencic.
World no. 1 Nadal breezed into the second round with a 6-3, 6-3, 6-2 win over Israel’s Dudi Sela as the Spaniard returned to action for the first time since claiming his 11th French Open title.
Nadal, the 17-time major winner, has not got past the fourth round since finishing runner-up to Novak Djokovic in 2011.
Djokovic reached the second round with a 6-3, 6-1, 6-2 win over Tennys Sandgren of the United States.
After sixth seed Grigor Dimitrov was sent packing on Monday, it was the turn of French Open runner-up Dominic Thiem and Belgium’s David Goffin to pack their bags.
Austrian seventh seed Thiem retired with a back injury against Cypriot veteran Marcos Baghdatis, trailing 6-4, 7-5, 2-0.
Goffin, the 10th seed, slumped to a 6-4, 6-3, 6-4 loss to Australia’s Matthew Ebden.
Argentine fifth seed Juan Martin del Potro made it nine first round wins in nine appearances at the tournament, easing past Germany’s Peter Gojowczyk 6-3, 6-4, 6-3.
Del Potro, who made the semifinals in 2013, next faces Feliciano Lopez of Spain who on Tuesday set a record of playing 66 consecutive Grand Slams when he eased past Federico Delbonis of Argentina 6-3, 6-4, 6-2.
The 36-year-old broke the record for straight Slams which was previously held by Roger Federer.
German fourth seed Alexander Zverev beat world no. 748 James Duckworth of Australia 7-5, 6-2, 6-0.
World no. 1 Simona Halep started her challenge for a first Wimbledon title with a 6-2, 6-4 win over Japan’s Kurumi Nara.
Halep has arrived at the All England Club on a high after finally winning her maiden Grand Slam crown at the French Open last month.
Spain’s Garbine Muguruza opened her title defense with a 6-2, 7-5 win over British wild card Naomi Broady.
Australia’s Nick Kyrgios, who famously stunned Nadal at the tournament in 2014, marked his 50th match at the majors with a 7-6 (7/3), 7-6 (7/4), 6-7 (5/7), 6-3 win over Denis Istomin of Uzbekistan.
Kyrgios, seeded 15, hammered down 42 aces and unleashed 78 winners. — AFP

Arboleda’s perfect game tows Parañaque to second win; Pampanga triumphs

HARDWORKING forward Harold Arboleda had a perfect game and the Parañaque Patriots-F2 Logistics stayed unbeaten after two games in the MPBL Datu Cup at the Olivarez College Gym late Tuesday night.
The former NLEX Road Warriors hit all of his seven attempts from the field on his way to finishing with a career-high 26 points to power the Efren Uy-backed Patriots to an 81-73 win over the Cebu Sharks-Casino Ethyl Alcohol.
He hit five of his shots from beyond the arc then also made two other attempts from the perimeter as the ex-pro kept a hold of the Patriots throughout the match.
Arboleda also finished with a double-double performance as he pulled down 11 rebounds while also adding six assists as his overall performance rubbed off on the Patriots, who gained a share of the lead in the southern division of this event put up by Senator Manny Pacquiao with PBA legend and former MVP Kenneth Duremdes serving as commissioner.
Arboleda attributed his game to the trust being given to him by his teammates, but believes the success was a product of a collective effort.
“Everybody’s been working hard during practice,” added Arboleda. “When you do that, everyone in the team will be pumped up to do their part and make contribution.”
Playing in front of their hometown crowd since winning game one of their semifinals series against Muntinlupa last season, the Patriots struggled in the early goings, trailing by as much as 15 points, 32-17, in the second quarter.
But the Patriots clawed their way back into the contest as they held their rivals to only two field goals for nearly seven minutes in the second quarter and ended the half trailing by only a point, 38-39.
Earlier, Juneric Baloria and Daniel de Guzman returned to Parañaque, but this time, they guided their new team, Pampanga, to an 81-80 squeaker of Bataan in the first game.
The two former stalwarts of the Patriots were key figures in the Lanterns’ first win of the season.
Baloria, a deadshot shooting guard, knocked in 24 points while De Guzman, a hardworking forward, added eight markers and six boards.
But it wasn’t their contribution in the offensive end which keyed the Lanterns’ victory alone.
Marlon Gomez, an undersized center/forward, grabbed 13 boards while also provided the inside presence which Pampanga badly needed.
The Lanterns booked their first win despite missing the services of ex-PBA players Jimbo Aquino and Mike Juico.
Aquino suffered a pulled muscle in his leg while Juico served a one game suspension after getting ejected in his team’s first game of the season. — Rey Joble

The FEU Junior Team

This magnificent FEU Junior Team (yes, I am referring to the HIGH SCHOOL squad). It is composed of:
board 1 IM John Marvin Miciano
board 2 NM John Merill Jacutina
board 3 Jeth Romy Morado
board 4 Istraelito Rilloraza
board 5 Jarvey Labanda
board 6 Dale Bernardo
They ran away with the 2018 UAAP Junior Chess Team Championship. All of the players medaled. Aside from the Most Valuable Player Award going to John Miciano, they won four gold medals (Miciano, Jacutina, Labanda and Dale Bernardo) for best performance on their respective boards. The other members of their squad (Jeth Romy Morada and Istraelito Rilloraza) got silver medals.
This year’s ASEAN Youth Chess Championship was hosted by Davao City from June 18-28 and the FEU team went down south to compete. The results in their age groups (top five places only):
UNDER 20. 1 IM Paulo Bersamina PHI 2413, 7.5/9, 2 FM Lazarya Jodi Setyaki INA 2340, 6.5/9, 3 FM Sai Agni Jeevitesh IND 2362, 6.0/9, 4-5 IM John Marvin Miciano PHI 2459, FM Stephen Rome Pangilinan PHI 2185, 5.5/9. Note: IM Paulo Bersamina gets his 2nd GM norm. He needs one more to get the full title.
UNDER 18. 1-2 Dale Bernardo PHI 1978, CM John Merill Jacutina PHI 2079, 8.0/9, 3 IM Tran Minh Thang VIE 2383, 6.0/9, 4-5 Carl Zirex Sato PHI, Istraelito Rilloraza PHI 2008, 5.5/9. Note: Dale Bernardo won on tiebreaks and was declared Under-18 champion. This brought with it the automatic International Master title. John Merill Jacutina as consolation prize got the outright FIDE Master title and an International Master (IM) norm.
By the way, the FEU women’s squad also came home with a big success.
UNDER 18 (Girls). 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 Marife 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. Note: Shania Mae Mendoza wins the gold and gets the outright Woman International Master (WIM) title.
In the ASEAN Youth Championships there were separate events for Under-20, Under 18, Under-16, etc all the way down to Under-8, with separate boys and girls divisions and also separate competitions in standard, rapid and blitz chess. Then there is the seniors division. A total of 45 separate tournament with individual as well as team golds at stake.
At the end Vietnam dominated by amassing a total of 70 gold, 56 silver and 30 bronze medals. The Philippines came second with 55 gold, 45 silver and 26 bronze medals. What is particularly eye-opening is that out of the Philippines’ total haul the Far Eastern contingent accounted for 17 gold, 8 silver and 2 bronze medals.
Under the leadership of FEU Chairman Aurelio “Gigi” Montinola the Far Eastern University is hitting new levels of excellence, both academically and in athletics. I am sure that most BW readers have noticed the number of board topnotchers lately coming out of FEU. In chess he has slowly built up a winning culture not by pirating top players from other squads but in carefully choosing his people, getting a coach like GM Jayson Gonzales who is a real teacher and builds up his squad through good training methods, wise life guidance and strict but fair instructions.
Chess is no longer the same game as we had before. Now with digital databases and computers to prepare the need for practice and training is felt more and more. Talent is not enough. There was a time when the Philippines was no. 1 in Asia. Now our regional rivals China, India and Vietnam have all overtaken us. We can still reclaim our leadership position though if we all just decide to do it. If ONE University can get 17 gold medals in the ASEAN championships, think of what we might accomplish if we have all our schools making up their mind to be better, to be the best.
The games of the event are not yet available and we will give a more in-depth report once they are. Let me point out though the shocking win of Dale Bernardo in the Under-18 Championship. Dale is a complete unknown, untitled, had not yet made his name in the local chess circuit but came out on top in the Under-18 Championship, one of the most prestigious events in the Championships. By virtue of the win Dale Bernardo is now an International Master.
I was very intrigued and went back to the UAAP games from earlier this year to look up his games. He was only fielded 4 times in the UAAP and scored 3.5/4. Here is one of his wins.

[FEU] BERNARDO,Dale T — [NU] DOROY,Allanney Jia [B07]
2017–18 UAAP Chess (JUNIORS) 1st Flr. QPAV Bldg., UST, Esp (12.3), 25.03.2018

1.e4 g6 2.d4 Bg7 3.Bc4 d6 4.Nc3 Nf6 5.Bg5 Nxe4 6.Bxf7+ Kxf7 7.Nxe4 Rf8
Black does not seem to have any problem in this opening at all:
7…Qd7 8.Be3 Rf8 9.Qd2 Qb5 10.0–0–0 Bf5 11.Nc3 Qc4 12.f3 Nc6 0–1 (83) Kunte,A (2505)-Ftacnik,L (2585) Koszalin 1998;
7…h6 8.Qf3+ Kg8 9.Be3 Qf8 10.Qg3 Bf5 11.Qf3 Nc6 12.c3 Qf7 Black is doing fine: 0–1 (39) Antoniacci,R (2065)-Gofshtein,L (2580) Arco 2000.
8.Qd2
Eyeing the standard Bh6 then h2–h4–h5 attack against Black’s fianchettoed position.
8…d5 9.Ng3 Kg8 10.h4 Qd6 11.h5 Nc6 12.Bh6
Maybe he should have prefaced this move with 12.N1e2 keeping an eye on d4 and f4.
12…Bxh6 13.Qxh6 Nxd4 14.0–0–0 Qf4+
White’s attack is over.
15.Qxf4 Rxf4 16.c3 Nc6 17.f3 Be6 18.hxg6 hxg6 19.N1e2 Rff8 20.Nd4 Nxd4 21.cxd4 c5 22.Rde1 Rf6 23.Kd2 cxd4 24.Ne2 Bf7 25.Nxd4 Rb6 26.b3 e6
Dale hits upon the maneuver f3–f4 followed by doubling rooks on the h-file.
27.f4! a5 28.Rh3 a4?
[28…Kg7 29.Reh1 Bg8 holds]
29.Reh1
Threatening to win the a8 rook with Rh8+
29…Kg7 30.Rh7+ Kf6
[30…Kf8 31.Rh8+ Bg8 32.R1h7 with the deadly threat of Nd4–f3–e5xg6+]
31.g4 axb3 32.axb3 Ra2+ 33.Ke3 Rg2? 34.g5+ Ke7 35.Rc1
Winning the bishop.
35…Rg3+ 36.Ke2 e5 37.fxe5 Rxg5 38.Rc7+ Ke8 39.Rh8+ 1–0
Here is a game, also from the UAAP, of our newest Woman’s International Master (WIM).

[DLSU] MIRANO,Mira T — [FEU] MENDOZA,Shania Mae [B06]
2017–18 UAAP Chess (WOMEN) 1st Flr., QPAV Bldg., UST, Es (14.1), 08.04.2018

1.e4 d6 2.g3 Nf6 3.Nc3 g6 4.Bg2 Bg7 5.d3 0–0 6.Nge2 c6 7.Bd2 e5 8.Qc1 d5 9.exd5 Nxd5 10.Bh6 f5 11.Bxg7 Kxg7 12.f4 Nxc3 13.Nxc3 exf4 14.Qxf4 Be6 15.0–0–0 Nd7 16.Rde1 Re8 17.Re2 Nf6 18.Rhe1 Qd7 19.Bf3 Bf7 20.Re5 Rxe5 21.Rxe5 Re8 22.Qe3 Rxe5 23.Qxe5 Qe6 24.Qxe6 Bxe6
Nothing much going on you say? From this position study carefully what Shania does.
25.a4 a5 26.Ne2 Kf7 27.Nd4 Bd7 28.c4 c5 29.Nb5?
White has no inkling of what is going to happen.
29…Bxb5! 30.axb5 b6
POSITION AFTER 30…B6
Do you see it? Material is completely equal but Black is winning. White has a weakness on d3, his bishop has no targets to attack while Black’s knight can jump around and go after White’s pawns at will.]
31.Kd2
Trying to get in Ke3 and d3–d4.
31…Ke6 32.Ke3 Ke5
Nope! White’s pawn remains on d3. Black’s knight will now go to e6 to support a kingside pawn advance.
33.Bd1 Ne8 34.Bf3 Nc7 35.g4 f4+ 36.Kf2 Ne6 37.h4 h6 38.Be2 Kd4 39.Bf1 g5 40.hxg5 hxg5
Black can now bring her knight to e5 to win one of the white pawns.
41.Ke2 f3+!
Or she can do this.
42.Kd2
[42.Kxf3 Nf4]
42…Nf4 43.b3 Ng2 0–1
A beautiful win.
Two new international masters from FEU! The rise of these stars show that we have a lot of them all around, we just have to identify, nurture and develop their talents.
 
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

Risky move

First off, let’s be clear about one thing: DeMarcus Cousins is damaged goods. He tore his left Achilles in late January, and his convalescence may well keep him off the court until close to Christmas. His return is a matter of when, not if, but it bears noting that the number of players who have come back from such an injury is extremely small. More importantly, the number of big men who have come back from such an injury is even smaller — as in zero.
Of course, Cousins was already far from perfect even before he went under the knife. True, he’s a four-time All-Star capable of filling stat lines and anchoring any given team. Since his arrival as the fifth overall pick in the 2010 draft, he has justified his status as a marquee name. On the other hand, he has also been error prone, with a questionable work ethic that extends to the locker room. Which is to say he checks boxes on both sides of the argument; he’s a unique talent, but he comes with considerable risk.
Certainly, Cousins’ Jekyll-and-Hyde persona did not help his cause any as he entered free agency. He was expecting a bonanza coming from any one of a bunch of suitors; in fact, it’s why he turned down a two-year, $40-million extension offer from the Pelicans before his 2017-18 season abruptly ended. Instead, he was met with the sound of crickets chirping, signifying an utter lack of interest around the league; those in the “Under No Circumstance” and “Only At The Point Of A Barrel” categories weren’t candidates for employment from the outset, but even noted gamblers were turned off by his myriad handicaps.
Parenthetically, Cousins was left with no choice but to get Andrew Rogers, his agent, to press digits. With players being signed to deals left and right, he felt his window closing, and he sought to affix his Hancock on a contract — any contract — fast. And, in this regard, he lucked out on the Warriors, who: 1) lost erstwhile starting center JaVale McGee to the Lakers and needed a replacement on the cheap; 2) possess the wherewithal to weather his protracted return to action; and 3) boast of the championship pedigree to put him and his pouting in place.
And so Cousins finds himself in an interesting dance with the Warriors. He’s a one-year rental at best; they can’t afford to keep him next year. That being so, he’d want to strut his best stuff early and often in an attempt to prove to the rest of the National Basketball Association that he’s a hundred percent recovered from his Achilles tear. Unfortunately, he won’t get nearly enough exposure on a roster already filled with talent, and in a system that isn’t a fit for his plodding predilections.
Which is to say the chess move Cousins is bandying about won’t get him closer to his objective. Checkmate may yet come, but on himself. To prevent an implosion, he would do well to buck history and become the first-ever post-tear big-man success story by making the most of his minutes on the floor and being a model teammate off it. A tall order? Perhaps. Then again, he has no alternative. His career depends on it.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Cherry picking: China looks to replace US farm goods in trade war

American cherries are tantalizingly sweet. They are so loaded with sugar and low on water that China’s home-grown cherries cannot compete on taste or texture.
But this alone may not be enough, said Zhao Xiaoyu, a Beijing fruit merchant, who believes Chinese consumers will be biting into domestic cherries and lower quality fruit from elsewhere after July 6, when China is expected to impose a 25-percent border tax on hundreds of American goods.
Simmering trade tensions between the world’s top two economies are set to erupt into a full-blown trade war Friday, with Washington poised to impose new tariffs on $34 billion in Chinese goods.
Beijing has pledged to hit back dollar for dollar, placing a new tax on American goods like cherries, soybeans, autos, pork and whiskey, putting them at a disadvantage to their global rivals.
Washington’s list is heavy on tech goods, aiming in part to shift supply chains away from China, while Beijing has put politically sensitive US farm goods in the firing line.
“For simple products it’s going to be faster to shift production, but for more complex products it’s going to be difficult,” said Denis Depoux, from consultancy Roland Berger, noting the quickest manufacturers will need at least a year and “won’t make the changes until they know this is real and here to stay.”
Farm products would appear simpler to substitute, Depoux noted, adding it would depend on the volumes available elsewhere and may require a planting season or two.
‘A day without beans’
The Chinese saying “Take a day without meat, but not a day without beans” speaks to the importance of soybeans in the world’s number-two economy.
Providing critical protein in animal feed and used in cooking oil, 1.4 billion Chinese rely on imported soybeans, primarily from the US and Brazil.
Last year, China imported $14 billion of soybeans from the US, its largest imported good.
No other single country grows enough to satiate China’s demand, soybean traders say, with annual imports of about 95 million tonnes — about the weight of 60 million cars — making it hard to move completely away from the US.
“As soon as the tariffs are slapped on, this will be reflected in the price of soybeans,” said Cui, a soybean trader at Scents Holdings Beijing, which has bought tens of millions worth of the beans from the US, according to figures from Panjiva, a trade data firm.
“When it gets to regular people’s dining room table, whether it’s meat or cooking oil, there will be a price effect,” Cui said, asking for his full name not to be used.
To lessen the self-inflicted shock, Beijing is searching for replacements.
“There are prospects for more soybeans from South America, the so-called ‘Stan’ countries in central Asia and even Eastern Europe,” said Si Wei, a professor at China Agricultural University.
“How much we can replace, this still needs to be looked into,” he said, adding China may also substitute rapeseed from Australia and Canada to make animal feed.
At home, Beijing is ramping up production in northern provinces, providing subsidies to farmers and launching an advertising blitz, according to government edicts.
“Expanding soybean production is the chief political task,” declared the agriculture commission in the city of Changchun.
‘Rotting in warehouses’
Sorghum, used in animal feed and liquor making, is another grain the US sends to China in bulk, moving 4.8 million tonnes last year, according to Chinese data.
In recent years, the cheap American grain beat out exports from Australia, which had been China’s primary source in 2013, according to Panjiva. Experts expect Australian growers to benefit from the trade fight.
Trade tensions earlier this year gave a foretaste of what may be to come: when China slapped a new customs deposit on the US grain, several ships carrying sorghum bound for China changed course en-route.
The looming trade war also has US traders and growers worried. US Senator Ron Wyden blasted commerce secretary Wilbur Ross last month, noting growers with 1.5 million boxes of cherries ready for China came to him in a panic.
“They’re worried those cherries are going to end up stuck at the dock or rotting in a warehouse due to China’s retaliation,” Wyden said.
Zhao the Beijing cherry importer said existing contracts for this year’s cherry harvest would make it hard to stop buying American cherries altogether.
“If we lose some money on contracts this year, there’s nothing we can do about it,” said Zhao.
“If it’s still going on next year, we’ll go straight to Turkey and Uzbekistan.” — Ryan McMorrow, AFP

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