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Cris Cyborg dangerous heading into UFC 222

STREAKING Ultimate Fighting Championship (UFC) women’s featherweight champion Cris Cyborg makes her Octagon return on Sunday (Manila time) in “UFC 222” in Las Vegas where she will stake her title against UFC-debuting Yana Kunitskaya of Russia.

Coming off her successful defense against former UFC champion Holly Holm last December by way of unanimous decision, Cyborg, 32, treks back to fight with her all-conquering mind-set that has made her one of the best in the mixed martial arts business and very much dangerous.

“Cris Cyborg definitely is the odds-on favorite heading to this fight. And what’s scarier is that she remains hungry to prove that she’s one of the best female fighters, if not the best. In her fight against Holly Holm, Cyborg showed her patience and adjusted against a strategic fighter like Holm. This goes to show that even with the belt around her waist, she remains a student of the game,” said local combat sports analyst Mike Miguel of RealFight.ph when asked by BusinessWorld for his thoughts.

Including her win over Ms. Holm, the former UFC women’s bantamweight champ, Cyborg (19-1) has won nine straight fights, four in the UFC, with no signs of slowing down.

While the odds are stacked against her, Ms. Kunitskaya, 28, is not to be ruled out outright for the type of skills set that she has, Mr. Miguel said.

“In boxing, everyone with two hands has a fighting chance, how much more in MMA where you got knees, feet and elbows. The thing is how you would utilize those against a fighter like Cyborg. Fortunately for Kunitskaya, her teammate Holm showed some aspects of Cyborg’s game which she could capitalize on,” the analyst said.

“What’s important heading to this fight for the Russian is on the mental side first and foremost. Having the same physical tools and skills set as Holm, who’s pushed the champ to five rounds, she needs to believe that she can beat her. Strategy-wise, I believe stopping Cyborg from bull-rushing as well as how she can utilize angles to launch her attacks would be key for her to have a chance in this fight,” added Mr. Miguel.

Ms. Kunitskaya (10-3), who paraded her wares at Invicta FC prior to coming to the UFC, won in her last fight in August 2017 by way of unanimous decision.

Serving as co-main event for UFC 222 set at T-Mobile Arena, meanwhile, is the featherweight battle between Frankie “The Answer” Edgar (#2) and Brian “T-City” Ortega (#3). Winner of this fight could set up a title showdown with reigning UFC champion Max “Blessed” Holloway.

Mr. Edgar (22-5-1) is riding a two-fight winning streak, the latest of which came over Yair Rodriguez in May last year by way of second-round technical knockout due to doctor stoppage.

Mr. Ortega (13-0), for his part, has been undefeated in his pro MMA career and beat Cub Swanson by submission (guillotine choke) in the second round in his last fight in December.

Other fights in the main card are bantamweight Sean “Sugar” O’Malley versus Andre “The Asian Sensation” Soukhamthath, heavyweight Stefan “Skyscraper” Struve (#10) against Andrei “The Pit Bull” Arlovski (#12), and women’s bantamweight Cat “Alpha” Zingano (#6) versus Ketlen “Fenomeno” Vieira (#5).

UFC 222: Cyborg vs. Kunitskaya will be shown live on Sunday, beginning at 11 a.m. over Hyper Ch. 91 in SD or 261 in HD on Cignal TV. Encore telecast is at 7 p.m. on the same day.

In the Philippines, Cignal TV, the country’s foremost direct-to-home (DTH) company, is the home of the UFC after the two groups agreed to an extensive deal that will see the UFC beamed on various platforms. — Michael Angelo S. Murillo

PSG’s Brazilian superstar Neymar goes under the knife, misses Real Madrid clash

PARIS — Brazilian superstar Neymar will undergo surgery on his fractured foot in Brazil as early as Thursday, ruling the world’s most expensive footballer out of Paris Saint-Germain’s (PSG) do-or-die Champions League clash with Real Madrid.

The 26-year-old suffered a hairline fracture of the fifth metatarsal in his right foot as well as a twisted ankle late in PSG’s 3-0 win over Marseille in Ligue 1 on Sunday.

PSG said Wednesday that Rodrigo Lasmar, the surgeon with the Brazilian national squad, will carry out the operation with several Brazilian media outlets reporting that the surgery would take place as early as Thursday.

Radio Tupi said Neymar, his father and surgeon Lasmar left Paris Wednesday night for Belo Horizonte’s Mater Dei Hospital where the operation is set for Thursday according to O Globo newspaper, one of Brazil’s leading dailies.

Web site UoL also reported the surgery would take place in the southeastern Brazil city but said it was scheduled for Sunday.

On Tuesday, the Brazilian’s father had claimed the player would be out for “at least six weeks.”

Speaking to ESPN in Brazil before PSG’s announcement, Neymar Senior said: “PSG know that they will not be able to count on Neymar for the upcoming matches. His treatment will last six to eight weeks, whether there is an operation or not.”

PSG coach Unai Emery had said earlier that “no decision” had been taken on whether Neymar would require surgery and that there remained a “small chance” of getting him back in time to face Real next Tuesday, March 6.

PSG lost 3-1 in the first leg in Spain two weeks ago and are in danger of being knocked out of the competition in the last 16 for the second season running.

Neymar appeared to be in tears as he was stretchered off the field at the Parc des Princes on Sunday.

Brazilian newspaper Globo Esporte claimed the former Barcelona player would be sidelined until May while, if his father’s estimate was correct, Neymar would not return before the semifinal stage of the Champions League in late April.

WORLD CUP FEARS
However, Neymar should be fit to play for Brazil at the World Cup in Russia in June and July.

In the meantime, PSG had to do without Neymar for Wednesday’s French Cup quarterfinal at home to Marseille, the second meeting of the clubs in four days.

Argentine star Angel Di Maria replaced the Brazilian at the Parc des Princesand scored twice in a 3-0 win as PSG stayed on course to win the French Cup for the fourth season in a row.

But Emery was then confronted with another injury worry when striker Kylian Mbappe picked up an ankle injury in the game.

“Kylian Mbappe injured his ankle. He asked not to play the second half. I hope that it’s not too serious,” said Emery.

Neymar has scored 28 goals in 30 appearances in all competitions for PSG since his €222-million ($264-million) move from Barcelona last August.

Meanwhile, in Brazil, Neymar’s foot injury has unleashed sharp emotions and concern, rumors and speculation about the player upon whom so many hopes rest for World Cup victory.

Brazilians care little about the impact on PSG. Their attention is entirely trained on the World Cup, where they have ambitions of walking away with a sixth championship.

Images of Sunday’s fateful duel between Neymar and Marseille player Bouna Sarr were being shown incessantly on TV, often in slo-mo, before he was stretchered off.

Newspapers featured close-up illustrations detailing Neymar’s foot and ankle. — AFP

STI Las Piñas fetes Patrimonio, Pingris during annual sportsfest

ALVIN PATRIMONIO and Marc Pingris, two of the best power forwards ever to play in the old Purefoods franchise, were feted by STI Las Piñas during the annual sportsfest held recently at its gymnasium in Alabang, Zapote.

Mr. Patrimonio, one of only three four-time Most Valuable Player Awardees in the PBA, and Mr. Pingris, a many-time all-defensive team member, were given the Hand of Excellence Award crafted by B&G Lifecasting.

Now the team manager of the Magnolia Hotshots, the new team being carried by the old Purefoods franchise, Mr. Patrimonio was feted as he continuously served as a great ambassador of the game, having been involved in many community activities.

Mr. Pingris, on the other hand, served as a role model for the working class and his hard work in every game made him the epitome of those average players who rose to prominence using hustle and defense.

Both key members of the Magnolia Hotshots were given rock star treatment by students, faculty members and staff who were celebrating the annual sportsfest. They were mobbed by fans who were seeking autographs and photo opportunities.

Messrs. Patrimonio and Pingris were welcomed by STI Las Piñas officials headed by senior school administrator Donna Ancheta, academic head Grace Gutierrez, student affairs head Bernadette Rejano and the other program chiefs of the institution. Also gracing the event is well-known courtside reporter Mara Aquino, who was sent by her mother network, ESPN5, to cover the event as part of a segment in the PBA games.

Recognized as two of the best power forwards ever to play in the old Purefoods franchise, Messrs. Patrimonio and Pingris also took time out to join AB Communications in their segment “Breakfast Forum @STI LP” where they answered relevant questions.

They judged the cheerdance competition right before STI Las Piñas feted them with the Hand of Excellence award. — Rey Joble

Destiny theirs to carve

The match was all but over by the time Giannis Antetokounmpo left it with 10:08 left in the fourth quarter. Playing on the second night of a back-to-back set, the Bucks didn’t quite have their A-game; he was himself decidedly pedestrian, putting up 11 (on five-of-13 shooting), three, and two in 30 minutes of play prior to heading to the locker room for good. And so out of it were they that coming back from a 17-point deficit would have been a minor miracle even if he hadn’t been compelled to leave the court following a hit to the head.

Still, it’s fair to argue that the Bucks thought they would be more competitive heading into the Little Caesars Arena. After all, they faced the sagging Pistons, who had lost three consecutive outings and six of seven in the last two and a half weeks. The swoon threw shade on what looked to be a major turnaround inspired by the arrival of five-time All-Star Blake Griffin. Disappointing turns against the Raptors and Celtics, not to mention such seemingly easy prey as the Hawks and Hornets, underscored the extent of the work that still had to be done in Motor City.

Parenthetically, the Bucks themselves have issues to contend with. Projected to be beasts in the East in the face of Antetokounmpo’s ascent to superstardom, they have instead floundered. They thought a change in head coaches would help, and, for a while, it did. Along with Jason Kidd’s departure late last month went the scrambling defense that was evidently ill-suited for the pace-and-space era; in its place were switch-heavy sets that worked because of the presence of their Most Valuable Player candidate. Nine victories in 11 contests under erstwhile assistant Joe Prunty certainly highlighted their potential. And then came reality, with yesterday’s blowout extending their dubious slate of setbacks to three straight and four of five.

All things considered, the Bucks are far from a lock for the playoffs. They’re currently seventh in the conference, just four games ahead of the ninth-place Pistons with 21 to go. On the other hand, they’re merely three and a half games behind the third-running Cavaliers. Which, in a nutshell, means their destiny remains theirs to carve. Their negative point differential puts up a red flag, but there are many flaws the presence of an otherworldly player can mask. It’s all up to Antetokounmpo, then, and if the green and white don’t want an early exit, he will have to stop coming up with clunkers like the one that doomed them yesterday.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

US Senate passes legislation promoting ties with Taiwan

WASHINGTON — The United States Senate on Wednesday passed a bill promoting US-Taiwan relations — legislation likely to infuriate China.

The Taiwan Travel Act, intended to encourage visits between the US and Taiwan “at all levels” was passed by unanimous consent, having passed the House of Representatives in January.

The bill adds that it should be US policy for high-level Taiwanese officials to enter the US, meet with US officials and conduct business in the country.

President Donald J. Trump’s signature is now all that is needed for the bill to become law — something that is not likely to be an obstacle, given that the bill was passed unanimously.

Washington cut formal diplomatic ties with Taiwan in 1979, recognizing the Communist mainland rulers in Beijing as the sole government of “One China.”

But, under the terms of the 1979 Taiwan Relations Act, Washington maintains an ambiguous approach to the island, maintains trade relations and sells Taipei weapons.

Mr. Trump sparked protest from China shortly after his election in 2016 by accepting a phone call from Taiwan’s leader Tsai Ing-wen, an action seen as breaking the protocol of the One China policy.

He made amends by vowing to uphold the One China policy shortly before Chinese President Xi Jinping’s visit to his Florida Mar-a-Lago resort — but infuriated Beijing again last summer by approving a $1.3-billion arms sale to Taiwan.

White House officials did not immediately respond when asked if Mr. Trump planned to sign the legislation. It would be unusual for a president to veto a measure that passed unanimously.

China’s Foreign Ministry did not immediately respond to a request for comment on the Senate’s passing of the bill.

Taiwan’s Foreign Ministry thanked the US for the unanimous support for the bill and for the US government’s increasingly friendly and open attitude towards Taiwan.

“The Foreign Ministry will keep developing an even more substantive cooperative relationship with the United States, to promote both sides’ joint values and mutually beneficial interests,” it said.

Taiwan’s Presidential Office said the US was its most important international ally, and that it would discuss the matter with the United States and further strengthen relations.

The US has no formal ties with Taiwan but is bound by law to help it defend itself and is the island’s main source of arms. China regularly says Taiwan is the most sensitive issue in its ties with Washington.

China has become increasingly hostile to Taiwan since the election as president of Tsai Ing-wen from the pro-independence Democratic Progressive Party in 2016.

China suspects Ms. Tsai wants to push for formal independence, a red line for Communist Party leaders in Beijing, though she has said she wants to maintain the status quo and is committed to ensuring peace. — AFP and Reuters

Trump’s closest aide Hope Hicks to resign

WASHINGTON — Hope Hicks, one of Donald J. Trump’s longest-serving aides and perhaps his most trusted confidante, on Wednesday announced her resignation in the latest of a string of departures from the embattled White House.

The 29-year-old former model and PR operative took her first job in politics as spokesperson for the Republican’s victorious campaign, before joining him in the White House where she was named communications director last September.

While she cut a discreet figure in the White House — refusing all interviews — the former advisor to Ivanka Trump was known around the West Wing for her close relationship with the president’s family and as a keen defender of his image.

She was well known to have the ear of the president, who never publicly voiced even the slightest criticism of her.

“There are no words to adequately express my gratitude to President Trump,” the 29-year-old Ms. Hicks said in a statement on her departure.

Mr. Trump paid tribute to Ms. Hicks’ “outstanding” contribution over the past three years, calling her “as smart and thoughtful as they come, a truly great person.”

“I will miss having her by my side but when she approached me about pursuing other opportunities, I totally understood,” he added. “I am sure we will work together again in the future.”

White House Chief of Staff John Kelly said Ms. Hicks had “served her country with great distinction.”

“To say that she will be missed, is an understatement,” Mr. Kelly said.

Ms. Hicks’ announcement came a day after she testified before a Congressional intelligence committee about the Russia election meddling investigation.

She reportedly told lawmakers she had told “white lies” for Mr. Trump in the course of her duties, but never over the Russia probe.

The White House said Ms. Hicks had informed Mr. Trump she wished to leave in order to explore other opportunities. Mr. Trump’s spokeswoman Sarah Sanders said no timeline had been set for her departure, adding that her exit was not linked to her testimony to Congress.

In a sign of the high turnover in Mr. Trump’s administration, Ms. Hicks was the fourth person to head the communications team — her immediate predecessor, the brash Anthony Scaramucci, having lasted just 10 headspinning days in the role.

THRUST INTO SPOTLIGHT
Ms. Hicks’ departure follows that of a succession of senior administration figures: from national security advisor Michael Flynn, to Reince Priebus as chief of staff, Sean Spicer as press secretary and Steve Bannon as the president’s chief strategist.

As communications director she was responsible for shaping the administration’s message, but Ms. Hicks was far less visible to the public than the press secretary Ms. Sanders, and before her Sean Spicer.

But she was brutally thrust into the spotlight in early February when another top Trump aide with whom she had become romantically involved was accused of domestic abuse by an ex-wife.

Former White House staff secretary Rob Porter — who denies the claims — resigned following the allegations.

Ms. Hicks had helped craft the official response to the scandal, despite her personal involvement with Mr. Porter.

Ms. Sanders denied any link between Ms. Hicks’ decision to leave, and her questioning Tuesday by a congressional panel probing Russian meddling in the 2016 presidential election.

During her appearance before the House intelligence committee, Mr. Trump’s communications director had stuck to answering pre-approved questions, and refused to answer many of the other questions put to her.

That meant avoiding questions about her work and White House contacts with Russia, according to lawmakers present at the closed session. — AFP

Trump likely to impose stiff steel, aluminum tariffs

WASHINGTON/NEW YORK — President Donald J. Trump is set to announce steep tariffs on steel and aluminum imports Thursday, people familiar with the matter said, in what would be one of his toughest actions yet to implement a hawkish trade agenda that risks antagonizing friends and foes alike.

Mr. Trump told aides he wants to announce tariffs of 25% on steel and 10% on aluminum from all countries, according to two people who asked not to be identified because the deliberations aren’t public. One person said the details of the decision may still change, and it’s possible some countries may be granted exemptions.

Mr. Trump has been considering a range of options to curb imports of steel and aluminum, after the Commerce department concluded shipments of the two metals hurt US national security. Leading up to the decision, the president told confidantes he was leaning toward a 24% tariff on steel, the harshest of the alternatives given to him by Commerce.

The US move may provoke retaliation from China, the world’s biggest steel and aluminum producer. China has already launched a probe into US imports of sorghum, and is studying whether to restrict shipments of US soybeans — targets that could hurt Mr. Trump’s support in some politically important farming states. While China accounts for just a fraction of US imports of the metals, it’s accused of flooding the global market and dragging down prices.

CANADA, MEXICO
The decision may also harm relations with key allies including Canada and Mexico, which are already locked in discussions over US demands to change the North American Free Trade Agreement. Canada is the biggest foreign supplier of US steel.

The European Union has suggested such an action by the US would face a legal challenge at the World Trade Organization. At home, consumers could see price hikes for everything from cars to beer cans that would be triggered by tariffs.

Defense Secretary James Mattis had lobbied the president for targeted options on steel, warning that sweeping measures could undermine US relations with its allies. European officials have argued that it doesn’t make sense to penalize members of the NATO defense alliance in the name of security.

Mr. Trump was under pressure from lawmakers in his Republican party to soften the blow on foreign steel. Businesses from beverage firms to automakers have warned a crackdown could raise prices in their industries and cost jobs. However, US steel producers and workers have called on Mr. Trump to defend their industry as it grapples with the effects of overcapacity in China.

The decision may play well in Rust Belt states such as Pennsylvania and Ohio that Mr. Trump won after promising a tougher approach to trade.

The announcement will end months of uncertainty over the steel and aluminum market. Last April, the president ordered Commerce to study the impact of steel and aluminum imports on national security under seldom-used section 232 of the 1962 Trade Expansion Act. The department submitted its final reports to the president in January. — Bloomberg

Australia amnesty takes 57,000 guns off the streets

SYDNEY — More than 57,000 illegal firearms, many of them automatic or semi-automatic weapons, have been handed in under an Australian amnesty that authorities Thursday said had made the country safer.

A final count from the three-month campaign to remove weapons from the streets came with debate over gun reform rampant in the United States after a mass school shooting in Florida.

Australia’s strict gun laws, enacted after a 1996 mass shooting that killed 35 people, are often held up by safety activists as a model for the US to follow. The country has had no mass shootings since.

The first national amnesty since Martin Bryant went on the rampage armed with semi-automatic weapons at the historic Tasmanian colonial convict site of Port Arthur 22 years ago netted 57,324 firearms.

Running from July 1 to September 30 last year, almost 2,500 of them were fully automatic and semi-automatic.

Law Enforcement Minister Angus Taylor said it was a great example of what could be achieved “when governments and the Australian public work together to make our communities safer.”

“Taking these unregistered firearms off the streets means they will not fall into the hands of criminals, who might use them to endanger the lives of innocent Australians,” he said.

“The government is committed to removing illegal firearms from our community and tackling gun-related crime.

“The next step of our ambitious agenda is passing our legislation that cracks down on gun trafficking.”

Among more unusual items handed in was a sten machine gun, best known for their use by British forces during World War II, and a small French Garter gun.

A rocket launcher, which the owner said was found at a local tip, was also handed over.

Ahead of the amnesty, which was prompted by fears of terrorism and an influx of illegal guns that saw a spate of gangland shootings, the government said it believed there were as many as 260,000 illicit weapons on the streets.

People were allowed to hand in unregistered or unwanted firearms with no questions asked. Outside this, they face fines of up to Aus$280,000 ($212,000) or 14 years in jail for illegal gun possession.

All guns in Australia must be registered, although many arrive illegally from overseas through organized syndicates. — AFP

Britain sets out new proposals on Brexit citizens’ rights

LONDON — Britain set out new proposals on Wednesday for the rights of European Union (EU) citizens who settle there during a post-Brexit transition period, seeking to bridge the divide with Brussels over the issue.

Europeans will maintain the right to move to Britain to live, study and work after withdrawal from the EU in March 2019 until the end of the transition, which the bloc has said should last around 21 months.

Like those who arrive before Brexit, these EU citizens and their relatives will be able to apply for the right to stay indefinitely after five years of continuous residence, and stay for as long as they need to accrue this.

However, they will have to register with the authorities if they stay more than three months — unlike those who are already in the country.

And relatives who want to join them after the transition will have no special status, instead being subject to normal British immigration rules, including a minimum income requirement.

The EU and Britain agreed a deal in December on the rights of around three million EU citizens living in Britain and their relatives.

But Prime Minister Theresa May rejected the EU’s request for these rights to be extended to those arriving during the transition period.

London is hoping that an agreement can be reached by March on the transition, but EU negotiator Michel Barnier has warned that differences on citizens’ rights could delay it. — AFP

Stocks continue decline

Local share prices extended their decline on Thursday, March 1, as investors tracked movements of global markets alongside the release of economic data.

The 30-member Philippine Stock Exchange index gave up 0.11% or 9.52 points to close at 8,465.77. The broader all-shares index also lost 0.1% or 5.31 points to 5,077.63.

“Philippine shares still sustained losses albeit at a smaller pace compared to Wednesday’s sell down…it didn’t help that the Philippine PMI went down to 50.8, which is 90 basis points lower than last month’s 51.7 and last year’s 53,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile phone message.

“Optimism doesn’t look good in these early days of March especially with February inflation results just around the corner next Tuesday,” Papa Securities Corp. Trader Gabriel F. Perez said in an email on Thursday.

Most Asian indices traded in the red on Thursday, following the bloodshed seen in global markets. The Dow Jones Industrial Average was down by 1.5% or 380.03 points to 25,029.20, the S&P 500 index declined 1.11% or 30.45 points to 2,713.83, while the Nasdaq Composite Index posted a 0.78% decline or 57.35 points to 7,273.01.

Locally, two sectoral counters managed to move to positive territory, as property picked up 1.55% or 57.65 points to 3,779.35, while services moved 0.1% higher or 1.68 points to 1,747.57.

The mining and oil counter posted the largest decline, slipping 1.55% or 57.65 points to 3,779.35. Financials shed 1.05% or 23.25 points to 2,202.40; holding firms went down 0.45% or 38.66 points to 8,546.40; while industrial dipped 0.03% or 3.44 points to 11,437.47.

A total of 6.9 billion issues switched hands, valued at P7.56 billion. This is lower than the P9.97 billion turnover the market saw in the previous session. Decliners outpaced advancers, 110 to 84, while 49 issues were unchanged.

Among the day’s most actively traded stocks were from SM Invesments Corp., recovering from the previous session’s slump as it jumped 1.77% to P966 each. SM Prime Holdings, Inc also added 1.27% to P35.75 apiece.

Speculation for third telco players also boosted the performance of telco firms, with Now Corp., gaining 2.92% to P13.40 each and EasyCall Communications Philippines, Inc. rising 10.05% to P52 each. — Arra B. Francia

Palace defends Duterte’s ‘co-ownership’ remark on joint exploration

Presidential Spokesperson Herminio Harry L. Roque defended the President on Thursday, March 1, on the latter’s ‘co-ownership’ remark on China and the Philippines’ possible joint exploration in the disputed South China Sea, saying it is “not a betrayal of public trust.”

“President just wanted to explain that joint exploration and exploitation will be undertaken by both Philippine and Chinese nationals. Now having said that, you know, ownership is not material here because really the areas that may be subjected to joint development is EEZ (Exclusive Economic Zone), where we only exercise sovereign rights. So let’s not talk about ownership, because a sovereign right is different from title,” Mr. Roque said in a press briefing at the Palace on Thursday, March 1.

Former Solicitor General Florin T. Hilbay, said in social media post on Wednesday night that Mr. Duterte’s latest pronouncement is “a clear example of impeachable offenses involving culpable violation of the Constitution and betrayal of public trust.”

“The West Philippine Sea is exclusively ours under the Constitution and the decision in Philippines v. China. He’s giving it away,” Mr. Hilbay added.

When asked to comment, Mr. Roque argued that it was not an act of betrayal of public trust. “But he’s free to file an impeachment complaint,” he added.

As for Supreme Court (SC) Senior Associate Justice Antonio T. Carpio’s opinion that it is against the constitution to liken the joint exploration in South China Sea to ‘co-ownership’, Mr. Roque said: “Again, Justice Carpio dissented [what] was the minority view in La Bugal. The existing jurisprudence is ‘yes,’ we can enter into joint exploration and joint exploitation with foreign entities provided that it complies with the Constitution among others. It [should] be pursuant to a written agreement signed by the President and submitted to Congress.”

“That’s the majority [decision] and the jurisprudence in La Bugal versus Secretary of Environment and Resources,” he added.

Peso strengthens vs dollar, closes at P51.92

The peso strengthened against the dollar on Thursday, March 1, following the revised fourth-quarter US economic growth, which grew at a slightly slower pace than previously thought.

The local currency ended Thursday’s session at P51.92 versus the greenback, 18 centavos stronger than its P52.10-per-dollar close on Wednesday.

The peso opened Thursday’s session slightly stronger at P52.07 versus the dollar, while its intraday high stood at P51.905. The peso’s worst showing, meanwhile, landed at P52.10 against the greenback.

Dollars traded rose to $863.5 million from the $652.1 million that changed hands in the previous session.

A trader told BusinessWorld in an e-mail that the peso strengthened “due to profit-taking amid slower US GDP (gross domestic product) growth data.”

The US Commerce Department said on Wednesday that the US economy grew at an annualized pace of 2.5%, slower than the 2.6% reading and the 3.2% pace logged in the third quarter of last year.

However, the 2.5% GDP growth was in line with the forecasts of economists. — Karl Angelo N. Vidal

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