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Puma x Mercedes-AMG Motorsport Collection now out

Puma Southeast Asia Motorsport Ambassador Choo Sung-hoon

SPORTS BRAND Puma launches its latest collaboration with Mercedes-AMG Motorsport, inspired by the iconic AMG 300 CE 6.0, famously known as “The Hammer.” When the vehicle was introduced in 1986, it “turned heads with its sleek design, and formidable AMG modified V8 engine and impressive 283kW,” Puma said in a release. “The sedan version was powerful enough to crack the magical 300-kph barrier and therefore received the affectionate nickname ‘The Hammer.’”

The new collection pays homage to the vehicle’s legacy through vibrant colors, bold accents, and tactile fabrics. The pilot jacket, with its vibrant colors and bold accents; and the tracksuit, made from tactile fabrics, are “standout items that echo the dynamic essence of the Hammer.”

The Hammer Collection is modeled by Puma Southeast Asia Motorsport Ambassador Choo Sung-hoon. Also known as “Sexyama,” he is a renowned Mixed Martial Arts (MMA) athlete and celebrity. The Puma x Mercedes-AMG Motorsport Collection is now available for purchase at select Puma stores.

FAO: Almost 5 in 10 Filipinos experience moderate or severe food insecurity

According to The State of Food Security and Nutrition in the World 2024 by the Food and Agriculture Organization, about 51 million Filipinos experienced moderate or severe food insecurity between 2021 and 2023. This was equivalent to 44.1% of the total population — the lowest share since 43.8% in 2019–2021. It was also the third-highest share in Southeast Asia. It was almost three times higher than the regional average and 1.5 times higher than the global average.

FAO: Almost 5 in 10 Filipinos experience moderate or severe food insecurity

Philippine shares rally as BSP, Fed turn dovish

BW FILE PHOTO

PHILIPPINE SHARES rallied last week, with the benchmark index returning to the 6,900 level for the first time in more than four months, with expectations of monetary easing at home and in the United States boosting sentiment.

The Philippine Stock Exchange index (PSEi) closed at 6,961.96 on Thursday, rising by 1.67% or 114.59 points from its 6,847.37 finish on Aug. 16 and marking its third consecutive weekly gain. Thursday’s close was also the PSEi’s best finish in more than four months or since it ended at 6,979.81 on April 1.

Philippine financial markets were closed on Aug. 23 (Friday) for a special nonworking holiday in observance of Ninoy Aquino Day, which was moved from the original Aug. 21 date. Markets will remain closed on Aug. 26 (Monday) for the National Heroes Day.

“The local market managed to extend its rally last week. It is noticed, however, that the bourse is having a difficult time getting past its 7,000 resistance level,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

The PSEi ended at the 6,800 level on Aug. 19 to begin the shortened trading week amid market optimism after the Bangko Sentral ng Pilipinas (BSP) on Aug. 15 fired off its first rate cut in nearly four years and signaled at least one more reduction before yearend.

The market continued to climb in the following days to breach the 6,900 mark and even hit an intraday high of 7,005.27 intraday on Aug. 20 ahead of the US central bank’s annual economic symposium in Jackson Hole, Wyoming, where US Federal Reserve Chair Jerome H. Powell was set to speak on Friday and was expected to lay out their own rate cut path. Shares only closed in the red on Aug. 21 due to profit taking.

“Momentum carried the local bourse, stimulated by an earlier rate cut from the BSP. Momentum is on the side of the PSEi, getting impetus from the BSP’s ‘ahead of the Fed’ rate cut this month,” online brokerage firm 2TradeAsia.com said in a market note.

The PSEi was also boosted by US markets’ performance last week amid prospects of a September Fed rate cut, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in an e-mail.

Wall Street and global shares jumped on Friday toward all-time highs, while Treasury yields slumped and the dollar languished, after a speech by Mr. Powell confirmed the United States would soon begin interest rate cuts, Reuters reported.

Mr. Powell, in remarks on Friday at the annual economic symposium in Jackson Hole, Wyoming, said “the time has come” to cut interest rates as rising risks to the job market left no room for further weakness and inflation was in reach of the Fed’s 2% target, offering an explicit endorsement of an imminent policy easing.

Traders increased bets for a bigger rate cut in September following Mr. Powell’s speech, with the fed funds futures now pricing in a 37% chance of a 50-basis-point (bp) cut next month, up from about 25% late on Thursday. Traders are also pricing in about 106 bps of cuts by the end of the year. — Revin Mikhael D. Ochave with Reuters

Quizon 10 points away from GM title, shares first in Abu Dhabi tilt

DANIEL QUIZON — PHILSTAR FILE PHOTO

TO become a chess Grandmaster (GM), one has to beat one in consistency.

And a mercurial Daniel Quizon did just that over the weekend when he ended up tied for first in the super-strong 30th Abu Dhabi International Chess Festival in the United Arab Emirates.

There, the 20-year-old, Olympiad-bound Filipino International Master caught four GMs including 10th seed Sunilduth Lyna Narayana of India whom the former slew in 51 moves of a slam bang King’s Indian showdown that catapulted him to a six-player tie at No. 1 with seven points.

While Mr. Quizon eventually wound up sixth after tiebreaks were applied, there was an air that the reigning Philippine champion had struck gold as he wound up with a performance rating equal to super-GM level — 2749.

Uzbek GM Nodirbek Yakubboev took first while GM David Paravyan of FIDE, Uzbek GM Shamsiddin Vokhidov, Indian GM Leon Luke Mendonca and top seed Iranian GM M. Amin Tabatabaei were second to fifth, respectively.

In all, Mr. Quizon faced six GMs, won against four and lost against two, that earned him 33.3 points, which shoved him to 2490.3 from 2457 more than a week ago or just around 10 away from touching the 2500 level and claiming an automatic GM title.

That moment could happen in Budapest, Hungary where he will join the national team wading into battle in the 45th World Chess Olympiad scheduled Sept. 10 to 22.

The National Chess Federation of the Philippines (NCFP) lauded the Dasmariñas bet for his feat.

“Congratulations to him. NCFP chairman/president Cong. (Butch) Pichay is really delighted with his performance, very impressive,” said NCFP Chief Executive Officer and national coach GM Jayson Gonzales. — Joey Villar

US Open defending champ Novak Djokovic as ambitious as ever after completing Golden Slam

NOVAK DJOKOVIC — REUTERS

NOVAK DJOKOVIC said he remains eager to continue making history as he begins his US Open title defense only three weeks after winning a coveted gold medal at the Paris Games to cement his status as the greatest tennis player in history.

Mr. Djokovic aims to win a record 25th Grand Slam and become the first US Open champion to successfully defend his title since Swiss great Roger Federer in 2008.

The 37-year-old said he was looking forward to playing his first match of the tournament on Monday against Radu Albot under the lights of the Arthur Ashe Stadium.

“The goal is always for me to try to go all the way to the finals and fight for the trophy. That kind of mindset is no different for me this year,” Mr. Djokovic told a news conference on Saturday.

“People ask me ‘now that you have won everything with the golden medal, what else is there to win?’ I still feel the drive. I still have the competitive spirit. I still want to make more history and enjoy myself on the tour.

“The US Open holds the biggest tennis court in the world. Night sessions here are very famous. I’m going to play my first match on Monday night, I can’t wait to be under the lights. The noise, the energy of the stadium is just different. I look forward to it.”

Other than his Paris Games triumph, Mr. Djokovic has claimed no other titles in 2024, losing to younger players such as Jannik Sinner in the Australian Open semifinals and Carlos Alcaraz in the Wimbledon final.

The last time Mr. Djokovic played all four majors in a season without winning one was 14 years ago. Yet the Serb looked like he was in fine form at the Olympics, beating French Open champion Mr. Alcaraz in the final.

Mr. Djokovic claims to be motivated to keep pushing himself forward through his rivalries with younger players.

“These kind of rivalries that I have with Jannik and Carlos are the kind of matchups that still bring that joy of competition to me and inspire me to really push myself to perfect the game,” he added. — Reuters

Keegan Bradley holds 1-shot  lead at BMW Championship

ROBERT RUGGIERO/UNSPLASH

CASTLE ROCK, Colorado — A strong finish on Saturday has Keegan Bradley in the lead by one stroke after the third round of the BMW Championship at Castle Pines Golf Club.

The 2025 United States Ryder Cup captain birdied the last two holes to post a round of 2-under 70, putting him at 12-under 204 for the tournament heading into Sunday. The last man to secure a spot in the 50-player field, Mr. Bradley also led after the first round of the FedEx Cup playoffs’ penultimate event.

It was a wild, up-and-down round on Saturday for Mr. Bradley, who had eight birdies and six bogeys and hit only 50 percent of greens in regulation. But Mr. Bradley’s putter bailed him out, as he ranked No. 1 on the day with 1.11 putts per green in regulation.

“It was tough out there today,” Mr. Bradley said. “It was really windy, a lot of elevated tees that were into the wind, which makes it really tough. Proud of the way I fought today. I played some brilliant golf but I hit also some terrible shots, too. I guess that’s the way of the world. But I’m proud of the way I fought there in the end.”

Second-round leader Adam Scott (74 on Saturday) is in second, one shot back at 11 under. The Australian was 4 over through the first four holes and shot a 40 on the front nine, then bounced back with a 2 under on the back nine.

“I kind of felt like I made a meal of (the start), and I didn’t feel like I did that much wrong,” Mr. Scott said. “A couple of drives were just not quite right, and a three-putt, and all of a sudden I’m kind of chasing.”

Ludvig Aberg (71), in the hunt for his second career PGA Tour win, is tied for third with fellow Swede Alex Noren (70) at 10 under. Noren fired a bogey-free back nine and birdied his last three holes.

Mr. Noren’s tee shot on the 193-yard, par-3 16th was almost a hole-in-one, as it settled 9 inches from the cup for a tap-in birdie.

Xander Schauffele (67) posted the second-lowest round of the day and was second with 129 feet of made putts. He is tied for fifth place with Wyndham Clark (69) at 7 under.

A two-time major winner, Mr. Schauffele rode a hot putter to a bogey-free back nine that featured four birdies. He also had birdies at Nos. 2, 7, 8 and 9.

Mr. Clark, a native of nearby Denver, made a late move into the top five by eagling the 524-yard, par-5 17th. He estimated that he knew a “couple hundred” people in the gallery, one being fellow Colorado native Derrick White, fresh off an NBA championship with the Boston Celtics and a gold medal at the Paris Olympics. Mr. White hyped up the crowd on the 18th hole after Clark’s round.

“It’s pretty cool,” Mr. Clark said. “It’s great to see where Derrick has gone in his career. It’s honestly one of those pinch-yourself moments because we were third grade all the way to high school playing basketball against each other, and you would almost never think that he’d be at the highest level and I would be at the highest level at my sport, and two kids coming out of Colorado, it doesn’t happen very often.”

Si Woo Kim of South Korea (71) and Taylor Pendrith of Canada (73) are T7 at 6 under.

After a double bogey on the par-4 second hole, Sepp Straka (69) had four straight birdies at Nos. 7-10 to move up the leaderboard.

The Austrian is tied for ninth at 5 under with eight others, including 2021 FedEx Cup winner Patrick Cantlay (72). — Reuters

Diamond Sports Group reaches NBA, NHL broadcast deals

DIAMOND Sports Group will continue to carry local game broadcasts for 20 National Basketball Association (NBA) and National Hockey League (NHL) teams in the 2024-25 season.

Diamond reached agreements with the NBA and NHL that were disclosed Friday in filings with the US Bankruptcy Court for the Southern District of Texas.

The subsidiary of Sinclair Broadcast Group had been operating the Bally-branded regional sports networks that carried NBA, NHL and Major League Baseball games in many markets around the country. Diamond filed for Chapter 1 bankruptcy in March 2023 and were ordered that spring to pay four MLB teams 50 percent of unpaid media rights fees that were owed to them.

The behind-the-scenes business troubles at Diamond led to uncertainty about where teams would be able to broadcast their games when not on national television.

In the NBA, Diamond will continue to carry local broadcasts for the Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Detroit Pistons, Los Angeles Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, Oklahoma City Thunder and San Antonio Spurs.

In the NHL, the group will keep broadcasting the Anaheim Ducks, Carolina Hurricanes, Columbus Blue Jackets, Detroit Red Wings, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues and Tampa Bay Lightning.

Diamond will no longer go forward with the Dallas Mavericks and New Orleans Pelicans, the latter of whom recently reached a deal with New Orleans’ local Fox affiliate to air games. The Mavericks were long considered likely to part with Bally, and Dallas’ NHL team, the Stars, previously split from Diamond in favor of starting their own streaming platform.

“We are appreciative of the ongoing collaboration and long-term partnerships with the NBA and NHL,” Diamond Sports Chief Executive Officer David Preschlack said in a statement. “Having completed negotiations with key partners that provide certainty around our content and distribution, Diamond is well positioned for the future. With the support of our creditors, we are focused on finalizing our reorganization plan to support our emergence and presenting that plan to the court in due course.”

Diamond’s next bankruptcy hearing is scheduled for Sept. 3. — Reuters

Inter Miami blanks FC Cincinnati, clinches playoff spot

LUIS SUAREZ collected a brace in the first six minutes of Saturday night’s match as CF Inter Miami clinched a spot in the MLS playoffs, blanking Cincinnati FC 2-0 in Fort Lauderdale, Florida.

Miami (17-4-5, 56 points) opened an eight-point lead on Cincinnati (15-8-3, 48 points) in the East and avenged a 6-1 loss on July 6 at Cincinnati, where it played without six starters and had a seventh starter red-carded in the second half.

Mr. Suarez was one of the missing six that night. So was fellow star Lionel Messi, who sat out this one as well with a right ankle injury suffered last month during the Copa America championship match. But Mr. Messi’s presence wasn’t needed in the rematch.

With legendary former NFL quarterback Tom Brady looking on, Mr. Suarez put Miami ahead to stay only 30 seconds into the fixture. Marcelo Weigandt crossed from right to left and Mr. Suarez settled the ball in the middle of the box, then beat goalie Roman Celentano with a clinical finish inside the right post.

After scoring the fastest goal in franchise history, Mr. Suarez made it 2-0 in the sixth minute. Sent in on a pretty through ball by Matias Rojas, Mr. Suarez sailed down the right side and made no mistake in scoring his team-leading 14th goal of the year.

Chasing the game nearly the entire night, Cincinnati enjoyed a 17-4 advantage in shots. But Miami goalie Drake Callender helped lock the result down with four second-half saves. — Reuters

Exception to the rule

Longtime tennis habitues were taken aback when news about Jannik Sinner hogged headlines last week, and with reason. He didn’t simply test positive for a banned substance, even though the development was a shocker in and of itself. He did so twice last March, and had already been cleared by the International Tennis Integrity Agency. In other words, the gravity of the turn of events, the timing of it being made public, and the speed with which it was resolved all contributed to the notable reaction of all and sundry.

Needless to say, reactions were all over the place. Former players, peers on tour, and even casual observers felt compelled to share their two cents’ worth on the matter. Question after question hit the grapevine. Why was Sinner let off easily? What made officials of the sport decide to keep the story to themselves? How could the case have been handled with haste? All these queries, and more, became fodder for speculation. And, certainly, the relative absence of information didn’t help.

That Sinner was in the midst of a surge to the top when his positive test results came back served to add fuel to the fire. Not a few quarters saw fit to compare his position with those of other players who faced the axe and were immediately given lengthy suspensions even prior to the launch of internal probes. To be sure, none of them were World Number Ones who brought much-needed eyeballs to competitions. If anything, the lack of a public reckoning of the facts from the powers-that-be have enabled critics to assume the worst.

Which is too bad, really, because tennis needs all the good news it can get. With Roger Federer, Rafael Nadal, and Andy Murray having all but bowed out of the scene, and with Novak Djokovic likewise slated to exit (albeit in a blaze of glory), the spotlight should be on the new blood — Sinner included. Unfortunately, it’s getting the wrong kind of attention, and all because, for grounds only its honchos know behind the scenes, it did not act with consistency. He became the exception to the rule, and in more ways than one. It deserves better at any instance, and especially now that the United States Open is just around the corner.

 

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.

DoTr could ditch plan to ‘bundle’ MRT-3, LRT-2

PHILSTAR

THE Department of Transportation (DoTr) said its original plan to bundle the operations and maintenance contracts for Metro Rail Transit Line 3 (MRT-3) and Light Rail Transit Line 2 (LRT-2) could be difficult to pull off, due to the different markets served by the two commuter lines.

“We are seeing that maybe bundling is not appropriate at this time because these are two different markets,” Transportation Undersecretary for Railways Jeremy S. Regino told reporters.

No decision has been made pending the conclusion of the feasibility study, which is expected this year at the earliest, he said.

“The International Finance Corp. is studying Line 2 while the ADB (Asian Development Bank) on the other hand is studying MRT-3.”

In 2023, the DoTr said it was studying the viability of bundling the MRT-3 and LRT-2 contracts once the two lines are privatized.

The Transportation department is hoping to auction the operations and maintenance contract for MRT-3 by the first quarter of 2025.

The DoTr aims to privatize MRT-3 before the build, lease, and transfer contract with Metro Rail Transit Corp. expires next year.

“The best approach in MRT-3 might not be the same approach in Line 2. We are looking into all options and we are looking into the figures,” Mr. Regino said.

The DoTr is looking to rehabilitate and expand LRT-2.

“We need to expand it to the West going to the South harbor. We need to expand it to Cogeo (Antipolo) to cater to more passengers. In short, Line 2 has its own orientation,” Mr. Regino said.

The Light Rail Transit Authority has said that about three more stations will be added to the LRT-2 eastward expansion to Antipolo City. — Ashley Erika O. Jose

Revenue to be raised from plastics excise questioned

PHILIPPINE STAR/EDD GUMBAN

By Justine Irish D. Tabile, Reporter

THE REVENUE to be earned from a single-use plastics tax may not be as strong as the Department of Finance assumes, the former head of the plastics industry association said.

“The government’s assumption that these taxes will generate significant revenue, mirroring the experience with sugar-sweetened beverages, is flawed,” according to Danny Ngo, former president of the Philippine Plastics Industry Association, speaking to BusinessWorld via Viber.

“The Philippines, currently facing economic challenges, may not be in a position to bear the additional burden of excise taxes on essential items like plastic bags,” he added.

The Department of Finance has identified the excise tax on single-use plastics as a priority tax reform measure. It is projected to yield P21.644 billion in revenue between 2025 and 2027.

In May, the National Economic and Development Authority asked legislators to pass a measure that seeks to impose a P100 excise tax for every kilogram of single-use plastics exiting the factory or released by the Bureau of Customs.

The House of Representatives approved its version of the bill in November 2022, while a similar measure is pending with a Senate committee.

Mr. Ngo also warned that taxing plastics could “undermine” the Extended Producer Responsibility (EPR) Act, also known as Republic Act 11898.

“The reality is that consumers, already facing rising costs of living, may resort to alternative, potentially less sustainable, packaging options. This could lead to increased waste generation and undermine the Extended Producer Responsibility  framework’s effectiveness,” he added.

He said that the EPR law already places the responsibility for managing the entire life cycle of a product on the producers, which promotes a circular economy.

“The law’s stringent requirements, exceeding those of developed nations, demonstrate the Philippines’ commitment to achieving a high standard of environmental responsibility,” he added.

He said the government should do more to make policy more coherent, weighing the economic realities, viable alternatives, and potential consequences of the tax.

He added that such a tax could embolden the underground economy, incentivizing tax evasion, smuggling, the manufacture of substandard products, and environmental degradation. He added that the monitoring of single-use plastics so they can be properly taxed will be challenging.

“In light of these considerations, it is imperative to reassess the potential implications of imposing an excise tax on single-use plastic bags in the Philippines and explore alternative strategies that prioritize both economic growth and environmental sustainability,” he said.

Visayas, Mindanao KADIWA store network could launch next month

DA.GOV.PH

THE Department of Agriculture (DA) said it hopes to expand its KADIWA network of direct-to-consumer food stores to the Visayas and Mindanao by September.

“We expect to have at least 60 KADIWA stores across the country next month to provide greater access to affordably priced agricultural products,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. said in a statement on Sunday.

Mr. Laurel added that the government-subsidized stores in the new locations will feature the P29 per kilogram rice program, targeted at vulnerable segments of society.

He added that the agency had identified about 650 potential locations in the Visayas and Mindanao to set up KADIWA stores.

The ultimate goal is a store network of 1,500 outlets.

“For us to reach the 1,500 target we need to open at least one store a day, which is almost impossible. That’s why we need the private sector’s collaboration in this project,” he said.

KADIWA provides farm cooperatives and associations an opportunity to sell directly to consumers, maximizing their returns by cutting out middlemen.

It added that the DA is planning to invite food manufacturers to offer canned sardines, cooking oil, and condiments in KADIWA stores.

“We’re also talking to manufacturers of other basic goods like condiments, sugar and canned goods to help ease the financial challenges faced by consumers,” Mr. Laurel said. — Adrian H. Halili

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