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MVP

Exactly 11 months ago today, rumors of LeBron James committing to the 2024 Olympics reached hoops circles. As far as National Basketball Association off-seasons went, the news was as big as they came. For all the bits and pieces of information that hogged headlines on slow days, it was worthy of note if for nothing else than because the star of stars was likewise doing a massive recruitment job. Evidently, he had taken it upon himself to convince other marquee names to join the cause. And when the King talks, everybody listens.

Needless to say, the sway James held over his peers manifested itself in the pledges he got off the bat. Such notables as Kevin Durant, already a legend in the Summer Games, and Stephen Curry, who had yet to attend the quadrennial festivities, said yes. So did Lakers teammate Anthony Davis, who, like him, last suited up for the red, white, and blue in 2012 (as a late replacement for the injured Blake Griffin). In short, he did a lot of the work for Grant Hill, managing director of the men’s national basketball team.

To be fair, Hill did get the ball rolling by approaching James shortly after the latter broke the NBA all-time scoring record in April 2023 and getting an affirmative response that was fortified when the United States lost four games in the FIBA World Cup. In other words, the premier league’s senior citizen had a mission to cling to, and one that would further add luster to an already singular career: restore lost glory for Uncle Sam (while, not coincidentally, sporting a similar gray beard) and exit the world stage in a blaze of honor.

The rest, as the cliche goes, is history. James would go on to literally and figuratively lead Team USA to gold in the Paris Games. His imprint on the squad was clear from the outset. He led practices and scrimmages, barked orders from his familiar spot at the top of the key in live-ball situations, and, for good measure, played hero in tuneup matches against would-be opponents in the Olympics. He even went on to serve as Flag Bearer alongside Coco Gauff for the 502-strong contingent across 34 disciplines.

In the contests themselves, there was no questioning James’ influence. He was Team USA’s most consistent performer, and would finish the tournament with norms of 14.2 points, 6.8 rebounds, 8.5 assists, and 1.3 steals. And when the going got tough, he got going. Against Serbia in the semifinal round, he claimed a triple-double to help snatch victory from the throes of defeat. His output in the fourth quarter, during which he, Curry, Durant, Joel Embiid, and Devin Booker overcame a five-point deficit to triumph: six markers, six caroms, four dimes, and outstanding defense on reigning NBA Most Valuable Player Nikola Jokic.

Considering James’ sterling body of work, it was but fitting that he would wind up with Most Valuable Player (MVP) honors and banner the All-Star Five (with Curry, Jokic, Shai Gilgeous-Alexander, and Dennis Schroder) at the close of the Olympics. He got what he aimed for, reaching the pinnacle of success while leaning on, and still learning from, aging stalwarts he called to serve. He was also all fun off the court, making the experience even more memorable. The Avengers assembled, with the Expendables at the forefront, and everything came together as envisioned.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

Trump campaign says it was hacked, blames Iran

Republican presidential nominee and former U.S. President Donald Trump applauds on Day 2 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 16, 2024. — REUTERS

WASHINGTON — Donald Trump’s US presidential campaign said on Saturday some of its internal communications were hacked and blamed the Iranian government, citing past hostilities between Mr. Trump and Iran without providing direct evidence.

The Republican’s campaign statement came shortly after news website Politico reported it had begun receiving emails in July from an anonymous source offering authentic documents from inside Mr. Trump’s operation, including a report about running mate JD Vance’s “potential vulnerabilities.”

“These documents were obtained illegally from foreign sources hostile to the United States, intended to interfere with the 2024 election and sow chaos throughout our Democratic process,” Trump campaign spokesperson Steven Cheung said in a statement.

Late on Saturday, Mr. Trump posted on his Truth Social app that Microsoft had just informed the campaign that Iran had hacked one of its websites. He cast blame on Iran, adding they were “only able to get publicly available information.” He did not elaborate further on the hack.

Reuters has not independently verified the identity of the alleged hackers or their motivation.

The Trump campaign referred to a Friday report from Microsoft researchers that said Iranian government-tied hackers tried breaking into the account of a “high-ranking official” on a US presidential campaign in June. The hackers had taken over an account belonging to a former political advisor and then used it to target the official, the report said. That report did not provide further details on the targets’ identities.

A Microsoft spokesperson declined to name the targeted officials or provide additional details after the report was published.

Iran’s permanent mission to the United Nations in New York said in an email that “the Iranian government neither possesses nor harbors any intent or motive to interfere in the United States presidential election.”

“We do not accord any credence to such reports,” it added in response to the Trump campaign’s allegations.

On Friday, in response to Microsoft’s findings, Iran’s United Nations mission told Reuters its cyber capabilities were “defensive and proportionate to the threats it faces,” and that it had no plans to launch cyberattacks.

The former president had tense relations with Iran while in office. Under Mr. Trump, the United States killed Iranian military commander Qassem Soleimani in 2020 and withdrew from a multilateral Iran nuclear deal.

“The Iranians know that President Trump will stop their reign of terror just like he did in his first four years in the White House,” Mr. Cheung said.

Mr. Trump survived an assassination attempt in July. While there have been no suggestions that the suspect was linked to Iran, CNN reported last month that the US had intelligence about an Iranian plot against Mr. Trump. Iran has denied such charges.

Late last month, a senior intelligence official told reporters in a briefing that Tehran and Moscow maintain their same presidential preferences as in past cycles, where Iranian operatives will attempt to tear down the Republican ticket while Russia has made efforts to smear Democrats, according to prior intelligence community assessments. — Reuters

GPS spoofers ‘hack time’ on commercial airlines, researchers say

REUTERS

LAS VEGAS — A recent surge in Global Positioning System (GPS) “spoofing,” a form of digital attack which can send commercial airliners off course, has entered an intriguing new dimension, according to cybersecurity researchers: The ability to hack time.

There has been a 400% surge in GPS spoofing incidents affecting commercial airliners in recent months, according to aviation advisory body OPSGROUP. Many of those incidents involve illicit ground-based GPS systems, particularly around conflict zones, that broadcast incorrect positions to the surrounding airspace in a bid to confuse incoming drones or missiles.

“We think too much about GPS being a source of position, but it’s actually a source of time,” Ken Munro, founder of Pen Test Partners, a British cybersecurity firm, said during a presentation at the DEF CON hacking convention in Las Vegas on Saturday.

“We’re starting to see reports of the clocks on board airplanes during spoofing events start to do weird things.”

In an interview with Reuters, Mr. Munro cited a recent incident in which an aircraft operated by a major Western airline had its onboard clocks suddenly sent forward by years, causing the plane to lose access to its digitally-encrypted communication systems.

The plane was grounded for weeks while engineers manually reset its onboard systems, said Mr. Munro. He declined to identify the airline or aircraft in question.

In April, Finnair temporarily paused flights to the eastern Estonian city of Tartu due to GPS spoofing which Tallin blamed on neighboring Russia.

GPS, short for Global Positioning System, has largely replaced expensive ground devices that transmit radio beams to guide planes towards landing. However, it is also fairly easy to block or distort GPS signals using relatively cheap and easy to obtain parts, and limited technological knowledge.

“Is it going to make a plane crash? No, it’s not,” Mr. Munro told Reuters.

“What it does is it just creates a little confusion. And you run the risk of starting what we call a cascade of events, where something minor happens, something else minor happens, and then something serious happens.” — Reuters

Zelensky acknowledges Ukraine’s military operation in Russia

UKRAINE’s President Volodymyr Zelensky speaks during a joint news conference with US President Joseph R. Biden (not pictured) in the East Room of the White House in Washington D.C., Dec. 21, 2022. — REUTERS

KYIV — President Volodymyr Zelensky acknowledged for the first time on Saturday that Ukrainian forces were fighting in the surprise offensive in Russia’s Kursk, as the border region’s authorities rushed to evacuate civilians from areas at risk.

Moscow’s forces are in their sixth day of intense battles against Kyiv’s largest incursion into Russian territory since the start of the war, which left southwestern parts of Russia vulnerable before reinforcement started arriving.

In a sign of the gravity of the situation, Russia imposed a sweeping security regime in three border regions on Saturday, while Belarus, a staunch ally of Moscow, sent more troops to its border with Ukraine, accusing Kyiv of violating its air space.

In his nightly video address, Mr. Zelensky said he had discussed the operation with top Ukrainian commander Oleksandr Syrskyi, vowing to restore justice after Russia launched a full-scale aggression on its smaller neighbor in February 2022.

“Today, I received several reports from commander-in-chief Syrskyi regarding the front lines and our actions to push the war onto the aggressor’s territory,” he said.

“Ukraine is proving that it can indeed restore justice and ensure the necessary pressure on the aggressor.”

Russian President Vladimir Putin cast the Ukrainian attack — which military analysts say caught the Kremlin off-guard — as a major provocation.

Russia’s top general, Valery Gerasimov, said on Wednesday the attacks had been halted, but Russia has thus far failed to push the Ukrainian forces back over the border.

Russian military bloggers say the situation had stabilized after Russia’s reinforcements, though they said Ukraine was swiftly building up forces.

Early on Sunday, Kursk officials said that 13 people were injured in the city after debris from a destroyed Ukraine-launched missile fell onto a nine-storey residential building.

Alexei Smirnov, Kursk’s acting governor, ordered local authorities to speed up the evacuation of civilians in areas at risk. On Saturday, Russia’s TASS state news agency reported that more than 76,000 people had been evacuated.

Both Kyiv and Moscow deny targeting civilians in their attacks in the war, which has killed thousands of people and displaced millions of Ukrainians, and has no end in sight.

Russian military bloggers say that fighting is taking place as deep as 20 km (12 miles) inside the Kursk region, prompting some of them to question why Ukraine was able to pierce the Kursk region so easily. — Reuters

Turkey restores access to Instagram after 9-day block

MARIIA SHALABAIEVA-UNSPLASH

ISTANBUL — Turkey said on Saturday it had restored access to social media platform Instagram after the company agreed to cooperate with authorities to address the government’s concerns.

Turkey blocked access to the social media platform on Aug. 2 for failing to comply with the country’s “laws and rules” and public sensitivities.

A top Turkish official accused Instagram of blocking condolence posts over the assassination of Ismail Haniyeh, leader of the Palestinian militant group Hamas.

Turkey has denounced Israel’s attacks on Gaza, called for an immediate ceasefire and criticized what it calls unconditional support for Israel by the West.

The nine-day ban triggered protests from users and small businesses who reach their customers through the platform.

Turkey ranks fifth in the world in terms of Instagram usage, with more than 57 million users, following India, the United States, Brazil and Indonesia, according to data platform Statista.

“As a result of our negotiations with Instagram officials, we will lift the access block…after they promised to work together to meet our demands regarding catalog crimes and on censorship imposed on users,” Transport and Infrastructure Minister Abdulkadir Uraloglu said in a post on X.

Catalog crimes in Turkish law include acts such as murder, sexual assault, drug trafficking, abuse and torture.

“Significant gains have been achieved in increasing security in the digital environment in Turkey, legal compliance, protection of user rights and the development of a fair inspection mechanism,” Mr. Uraloglu said.

Instagram parent Meta had agreed to comply with Turkish law and ensure efficient removal of posts and content if they carry elements of certain crimes or “terrorism propaganda,” Mr. Uraloglu said.

Instagram was not immediately available for comment when contacted by Reuters.

“Live metrics show Instagram is being restored across Turkey’s main internet providers after national restriction spanning nine days. This is the country’s longest ban of a major social media platform in recent years,” Internet monitor NetBlocks said. — Reuters

Los Angeles will push use of public transit at ‘no car’ Olympic Games

PARIS — Los Angeles (LA), a city famous for its passionate car culture and notorious for its traffic, will strongly emphasize the use of public transportation when it hosts the Olympic Games in 2028, LA Mayor Karen Bass said on Saturday.

Los Angeles is the birthplace of the modern freeway system but its decades-long romance with the automobile has come with a cost, including soul-crushing congestion and frequently poor air quality.

“The no car Games means that you will have to take public transportation to get to all of the venues,” Ms. Bass said at a press conference in Paris. “In order to do that, we have been building out our transport and system,” she added.

Ms. Bass said the city will utilize 3,000 buses loaned to it from around the country to ease traffic congestion. The US government last month pledged $900 million to help improve the city’s rail and bus systems in anticipation of the Olympic Games.

While the phrase “no car Games” is sure to raise eyebrows among Angelenos, there will be no prohibition on driving to venues like Dodger Stadium and the Rose Bowl, which have parking lots.

Instead, the idea is to encourage the use of public transit as much as possible.

“We’re already working to create jobs by expanding our public transportation system in order for us to have a no car Games,” Bass said.

“And that’s a feat in Los Angeles, because we’ve always been in love with our cars. But we’re already working to ensure that we can build a greener Los Angeles.” — Reuters

BPI raises P33.7 billion from SEED Bonds

BANK of the Philippine Islands (BPI) raised P33.7 billion from its offering of 1.5-year Sustainable, Environmental, and Equitable Development (SEED) Bonds, well above its P5-billion goal, it said on Friday.

“On behalf of BPI, I am honored to share that our bond offering has been met with remarkable enthusiasm from our investors, resulting in a final issue size of P33.7 billion. I think this is the biggest issue we’ve had, and it’s oversubscribed by more than six times our initial target of P5 billion,” BPI Senior Vice-President, Treasurer and Global Markets Head Dino R. Gasmen said in a speech during the bond listing ceremony held at the Philippine Dealing & Exchange Corp. (PDEx) on Friday.

A third of the issue’s total investors were institutional or non-retail, while the rest came from the high net-worth and retail segment, Mr. Gasmen said.

Demand for the bonds was strong as sustainability-themed investments have been gaining ground in the past years, he added.

“For example, if I’m going to invest in a bond, I want to invest in ESG (environmental, social, and governance) so that I can say that I am doing something on the sustainability side,” he said.

The SEED Bonds issuance marked the third tranche of BPI’s P100-billion bond program approved in May 2022.

The offer marked BPI’s first foray into the sustainable bond space, it said in a disclosure to the stock exchange.

The papers were priced at 6.2% per annum, payable quarterly. BPI sold the bonds from July 19 to Aug. 1, closing the offer period one day ahead of the original schedule amid strong investor demand.

Net proceeds from the SEED Bonds will be used to finance or refinance new or existing eligible green and/or social projects consistent with its Sustainable Funding Framework, BPI previously said.

It added that it will use the offering as an opportunity to promote projects that contribute to the United Nations’ Sustainable Development Goals.

BPI Capital Corp. and Standard Chartered Bank were the joint lead arrangers and selling agents for the bond offer.

Mr. Gasmen said on Friday that the proceeds of the SEED Bonds offer will help fund BPI’s current portfolio of green and social loans.

“The thing is, some of them are going to mature before the bond matures, so there will be a deficit. But our lending units are confident that they will be able to find assets to replace those that are maturing,” he said.

“It’s very important that we find the right assets that conform with our sustainability framework. We don’t want to be accused later on of what they call greenwashing. That’s the most important thing we want to protect because it affects your reputation as an issuer,” Mr. Gasmen added.

The bank’s low-cost current account, savings account (CASA) deposits are also sufficient for BPI’s funding needs, he said.

“We observed that the bank’s CASA deposits are very stable. So, if CASA deposits grow, it will be very difficult for me to justify the issuance of a bond,” Mr. Gasmen said. BPI officials previous said they want to issue sustainability-themed peso bonds every quarter, although this would depend on their funding needs.

BOND LISTINGS ON TRACK TO REACH TARGET
BPI’s latest bond listing brought the total volume of issuances from 14 companies to P266.4 billion year to date, PDEx President and Chief Executive Officer Antonino A. Nakpil told reporters on the sidelines of the ceremony on Friday.

This puts the PDEx on track to reach its target of P400 billion in corporate bond issuances this year, he said.

Trading volume at the exchange reached P1.1 trillion in July, the highest since the P900 billion seen in March 2013, Mr. Nakpil added.

He noted that there were six issuances in the primary market last month, three of which were ESG-themed. Two of these came from the Ayala group, he added.

BPI’s net income grew by 17.5% year on year to P15.3 billion in the second quarter on the back of higher revenues. — A.M.C. Sy

Mediaquest, Cignal TV and DDB Philippines provide spotlight for Filipino Olympians through powerful Fame Swap campaign

The Philippines is embracing a new wave of support for its athletes through the “Fame Swap” campaign by Cignal TV and DDB Philippines. This exciting initiative is designed to highlight and uplift athletes from different sports as they compete at the Olympic Games Paris 2024.

Public figures as media platforms

Players from Philippine Basketball Association (PBA), the country’s premiere basketball league, swap their names for rising athletes competing at the Olympic Games Paris 2024.

The campaign launched on Philippine Independence Day, with Filipino Olympians’ names on Philippine Basketball Association (PBA) players’ shirt warmers and leveraged on the highly-contested PBA Finals series for maximum exposure. Given the wide reach of the PBA Games, the stunt quickly snowballed into a movement that inspired other personalities to swap their names, fame, and influence for our Filipino Olympians.

Philippine Volleyball League (PVL) players don Olympics hopefuls’ names.

Premier Volleyball League (PVL) players; hosts from Eat Bulaga, the country’s #1 noontime variety show; and even Willie Revillame’s Wil to Win soon followed suit. The most followed, most loved public figures in sports and entertainment industries swapped their names for those of their fellow countrymen competing at the Olympic Games Paris 2024.

More support, more chances of winning

Hosts of the country’s #1 noontime show, Eat Bulaga!, use their fame to shine light on Filipino athletes.

Cignal TV, the country’s leader in Pay TV, strategically utilized the top sports properties and entertainment variety shows within its universe to bolster awareness for the Olympians now competing at the games.

Jane Jimenez-Basas, President & CEO of Mediaquest Holdings and Cignal TV, highlights the initiative’s strategic impact: “The movement aims to maximize the ability of the Mediaquest Group in creating excitement for the Olympic Games and inspiring all Filipinos to support our modern-day heroes.”

Sienna G. Olaso, FVP for Channels and Content Management at Cignal TV, notes the campaign’s role in fostering community support: “We maximized our strategic advantage as the leader in sports to shine the spotlight on our Olympians, and with the bigger Mediaquest ecosystem of shows and programs in full support, we’ve extended the execution towards the lifestyle and entertainment space.”

Kelvin Co, Executive Creative Director at DDB Philippines, notes the campaign’s success: “We’re dedicating all our efforts to highlight Filipino athletes from all sports and invite everyone to celebrate their journey and accomplishments”

Willie Revillame’s newest game and public service program “Wil To Win” after a stellar performance of “Isandaang Taong Laban Para sa Bayan,” composed by Vehnee Saturno

As the Philippines’ best athletes compete at the Olympic Games Paris 2024, Cignal TV and DDB Philippines invite everyone to show their support. “Backing our athletes is about celebrating their dedication and inspiring future generations,” adds Mr. Basas.

Join the celebration using the hashtag #100TaongLaban #ParaSaBayan and follow the journey through Cignal TV’s live coverage. Subscribe to Cignal TV, SatLite, or Cignal Play, and enjoy the action on the Pilipinas Live app to watch anywhere and on any device. For more information, visit cignal.tv/article/3050/paris-2024.

 


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In Gaza, keeping the internet on can cost lives but also save them

CHICKENS walk on top of rubble, at the site of Israeli strikes on houses, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Khan Younis in the southern Gaza Strip, Dec. 10, 2023. — REUTERS

 – Forced to flee his home yet again as war raged across the Gaza Strip, Khalil Salim was desperate to get his family to safety but how could he be sure he wasn’t leading them deeper into danger?

He needed up-to-date information and so he went online and checked out the official social media accounts of the Israeli army and other online sources.

“We would take instructions from the internet. We couldn’t assess the internal fighting … so we would follow the news and channels and look at Facebook and see what people wrote,” Mr. Salim said.

But when he could not get a signal or a connection, he was left in the dark, with no sure way of plotting a safe route.

“What was pitiful is that (the Israeli army) would put instructions on their Facebook and we wouldn’t even have internet. It would be very difficult for us to find out that there were instructions to do this and not that. Sometimes we would spend two days, sometimes a week, without internet.”

In the rubble of Gaza, it can be difficult and dangerous to get online but tech activists and Palestinian engineers are making sure the enclave does not go totally dark, securing a precious digital lifeline for thousands of people.

Preserving this connection comes at a price and the risks can be deadly for desperate users clambering to high ground to get a signal or engineers traveling to dangerous areas to repair damaged cables or telecoms towers.

In May, an Israeli strike hit a gathering of people outside a Gaza City shop that provides an internet signal for customers, killing at least three people and wounding more than 20, medics said.

Mr. Salim knows all too well what drove those people to that shop.

“Internet is life; without the internet, (life) has no meaning, it is like a prison,” the IT engineer and pharmacist told the Thomson Reuters Foundation by phone from Al-Mawasi, an area on the western outskirts of Khan Younis where he now lives with his family after fleeing the border city of Rafah.

 

THE GIFT OF ACCESS

Israel launched its offensive on Gaza after fighters from the Hamas Islamist militant group attacked southern Israel on Oct. 7, killing 1,200 people and capturing 253 hostages, according to Israeli tallies.

Israel responded by assaulting the coastal enclave, vowing to annihilate the group. Almost 40,000 people have since been killed in Israeli strikes, according to Gaza’s health authorities, with thousands more bodies feared buried under the rubble.

Gaza’s economy and infrastructure have been devastated by months of relentless bombing and conflict. Houses, roads, schools, and hospitals have been obliterated and around 70% of the infrastructure needed for communication and technology has been damaged or destroyed.

Tech entrepreneurs outside Gaza are using electronic SIMs, or eSIMs, to help strengthen Gaza’s frayed digital lifeline.

An eSIM gives users the option of activating a mobile network’s cellular data plan without actually having a physical SIM card. They can be activated using a QR code, allowing users to connect in roaming mode to a foreign network.

For example, Gaza Online, a volunteer group, provides free eSIMs to families to help them stay connected to each other. The group relies on in-kind donations of eSIM activation codes and matches them with families in Gaza through WhatsApp.

Early in the war, an eSIM allowed Salim to oversee the evacuation of his daughter, who was wounded in an Israeli bombing in October, to Egypt and then Tunisia. He was also able to advise doctors on her care.

Nadine Hassan, Gaza Online’s chief operating officer who is based in Jordan, said her group’s work is becoming “more challenging every day” with funding a particular issue.

The group has been finding it increasingly difficult to buy eSIMs online as vendors keep closing down their accounts, saying they violated terms of service by buying in bulk.

Activating an eSIM requires a relatively new smartphone model and updated software, Hassan said, a tall order for people in Gaza who are preoccupied with securing access to food and clean water.

Another hurdle, and something of a mystery, is the fact that most of the eSIMs only seem to work at night.

“We have no idea why and we can’t find an explanation for it,” she said.

 

ENGINEERS RISK LIVES

Even before the war, telecoms services in Gaza were fragile; a World Bank report from earlier this year said the enclave was the only place in the world that still relied on “obsolete” 2G technology and had no mobile broadband coverage.

By February, the enclave’s largest telecoms provider, Paltel, had reported more than 10 total collapses in service provision since Oct. 7. Even when its network has been partly working, it has struggled to maintain service in many areas because of the fighting.

Despite the ongoing battles between Israeli forces and Hamas militants, telecoms engineers have been working to restore services, with reports of several being killed while trying to fix damaged infrastructure.

Speaking to the Thomson Reuters Foundation in March, Hani Alami, who heads East Jerusalem-based internet service provider Coolnet, said one of his teams working in the centre of Gaza was hit in February during a suspected Israeli attack, with two engineers killed and one injured.

Mr. Alami said he had coordinated his team’s movements with the Israeli army before they headed out.

“They gave us the green light to move from the first point and while the vehicle was moving on its track, they bombed the vehicle,” he said.

Asked about the alleged incident, the Israeli army said in a statement to the Thomson Reuters Foundation that it “follows international law and takes feasible precautions to mitigate civilian harm.”

Some activists have called on Israel to observe a digital ceasefire as the war drags on.

In an article for the Thomson Reuters Foundation, Brett Solomon, former executive director of Internet advocacy watchdog Access Now, said “digital ceasefires must be annexed to traditional ceasefire agreements, encompassing everything from connectivity to censorship.”

For now, as he tries to rebuild his life in a half-built house close to the sea, Mr. Salim feels more isolated than ever. He can no longer use his eSIM as he is too far from Israeli telecoms towers, he said.

Instead, he must make do with local providers who charge exorbitant fees to go online. It can also take up to a month to get the necessary approvals to get an Internet connection.

That’s just too long for people who might have to flee the bombs and bullets again as the conflict waxes and wanes.

Mr. Salim would like to get his IT business up and running again so that he can provide for his family. But with no internet, there can be no work.

“If they see you cannot even do a meeting, they become convinced that you cannot do the job.” – Reuters

Microsoft researchers report Iran hackers targeting US officials before election

FLATART-FREEPIK

 – Microsoft researchers said on Friday that Iran government-tied hackers tried breaking into the account of a “high ranking official” on the US presidential campaign in June, weeks after breaching the account of a county-level US official.

The breaches were part of Iranian groups’ increasing attempts to influence the US presidential election in November, the researchers said in a report that did not provide any further detail on the “official” in question.

The report follows recent statements by senior US Intelligence officials that they’d seen Iran ramp up use of clandestine social media accounts with the aim to use them to try to sow political discord in the United States.

Iran’s mission to the United Nations in New York told Reuters in a statement that its cyber capabilities were “defensive and proportionate to the threats it faces” and that it had no plans to launch cyber attacks. “The US presidential election is an internal matter in which Iran does not interfere,” the mission added in response to the allegations in the Microsoft report.

“A group run by the Islamic Revolutionary Guard Corps (IRGC) intelligence unit sent a spear-phishing email to a high-ranking official of a presidential campaign” and “another group with assessed links to the IRGC compromised a user account with minimal access permissions at a county-level government,” the report said.

It said the activity appeared part of a broader push by Iranian groups to gain intelligence on US political campaigns and target US swing states. It said the county employee’s account was breached in May as part of a wider “password spray operation” – one where hackers use common or leaked passwords en masse on many accounts until they can break into one.

The hackers weren’t able to access any other accounts through that breach and the targets were notified, the report added.

The researchers also said another Iranian group had been launching “covert” news sites that used artificial intelligence to lift content from legitimate news sites, and targeted US voters on opposite sides of the political spectrum. It named the two sites as Nio Thinker — a left-leaning site — and a conservative site called Savannah Time.

When browsed on Friday, both websites had similar formats on their ‘About Us’ page, and neither listed any contact detail. Nio Thinker calls itself “your go-to destination for insightful, progressive news and analysis that challenges the status quo”, while Savannah Time says it is “a reflection of the values that make Savannah unique” and a place “where conservative values meet local insight.” – Reuters

Philippines’ GCash eyes digital bank license

Globe Fintech, or Mynt, is the parent of GCash, the Philippines’ leading mobile payments service provider. — BLOOMBERG

The company behind the Philippines’ top mobile wallet GCash may seek a digital banking license as it boosts its lending business after Japan’s biggest bank invested in the fintech firm.

Applying for a digital banking license “is being discussed, although nothing is definite as of the moment,” Globe Fintech Innovations Inc. CEO Martha Sazon said in an interview with Bloomberg Television’s Shery Ahn and Haidi Stroud-Watts on Friday.

The Philippine central bank on Thursday said it approved the lifting of a moratorium on the grant of new digital banking licenses starting January next year, opening the door for four new slots on top of six existing licensees.

Globe Fintech, or Mynt, is the parent of GCash, the Philippines’ leading mobile payments service provider.

The possibility of securing a digital bank license comes as Mynt is moving to scale up its lending business following its latest investment round. Japan’s Mitsubishi UFJ Financial Group Inc. took an 8% stake and Ayala Corp. raised its ownership to 13% in transactions collectively worth around $800 million, which Ms. Sazon said is the biggest fintech deal in the Philippines.

That more than doubled Mynt’s valuation to $5 billion. The company is not actively considering new investors as it does not need additional funds at the moment, the CEO said, adding that an initial public offering may happen when market conditions “are right.”

“For the IPO, that’s always on the table, but our priority right now is really to sustainably grow the business,” she said.

Both Ayala and MUFG are expected to strengthen Mynt’s diversification from its core payment business. MUFG can help with “cheap cost of funds when it comes to lending,” Ms. Sazon said.

Mynt has disbursed P155 billion ($2.7 billion) in loans as of end-June, up 73% from a year ago, according to Globe Telecom Inc., which holds around 33% stake in Mynt. The number of its unique borrowers jumped 71% to 5.4 million during the same period.

Mynt’s lending business is focused on “small loans” and the company doesn’t compete with banks, Ms. Sazon said. “Who we compete with would be the loan sharks,” she added.

The company, which is present in 17 countries, also plans to expand its overseas business to cater to more Filipinos abroad, Ms. Sazon said. —Bloomberg

China’s rains and floods led to near doubling of natural disaster losses in July

STOCK PHOTO | Image by Hermann Traub from Pixabay

 – Extreme rainfall and severe flooding in China led to a near doubling in economic losses from natural disasters in July from a year earlier, the government said.

China suffered 76.9 billion yuan ($10.1 billion) in economic losses from natural disasters last month, with 88% of those losses caused by heavy rains, floods or their effects, according to the Ministry of Emergency Management.

It was the biggest amount of losses for the month of July since 2021, ministry data showed.

Natural disasters during the month affected almost 26.4 million people across China, with 328 either dead or missing, the ministry said.

During the month, 1.1 million people were relocated, 12,000 houses collapsed and 157,000 more were damaged. Some 2.42 million hectares of crop area were also affected.

Extreme rainfall poured over vast areas such as the Sichuan Basin, Yellow River, Huai River and parts of the North China Plain, breaking precipitation records at 33 weather stations in Henan, Hunan and Shandong provinces.

Swollen major rivers that were slow to recede after bouts of flooding also worsened the impact of the rains, the ministry said.

In central Henan, one of the country’s main commercial crop production areas, more than 1.13 million hectares were affected with some harvests lost from soaked fields.

In the south, Typhoon Gaemi had the most impact in Hunan.

Thunderstorms, winds and hail also damaged crops and greenhouses in Inner Mongolia and Xinjiang. – Reuters