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SGA beats Beirut First to stay unbeaten at Dubai tilt

STRONG GROUP ATHLETICS (SGA) staved off strong resistance from Beirut First in the battle between top squads with a 95-88 win to stay unbeaten in the 34th Dubai International Basketball Championship on Tuesday at the Al Nasr Club.

The Philippine quintet built a 21-point advantage in the payoff period but needed one last stand to repel any comeback left from  the Lebanese ball club for a 3-0 slate in Group A.

SGA could shoot for a group sweep against Amman United on Wednesday for a sure seat in the next round.

Making it happen was former NBA All-Star DeMarcus Cousins, who ran roughshod with a 26-point, 12-rebound outing in only 31 minutes of play.

The 6-foot-10 Mr. Cousins, also a veteran USA national team campaigner as part of the 2016 Rio Olympics gold-medal winning squad, shot eight-of-16 from the field and two assists, two steals and a block.

Gilas Pilipinas naturalized Ange Kouame and Dave Ildefonso contributed 14 and 12 points, respectively, for the wards of coach Charles Tiu in a serious redemption tour after a runner-up finish last year.

SGA pulled away in the second period with a 34-point eruption to erect a 49-34 lead at halftime and was still in full control in the second half, including a massive 75-54 gap early in the payoff period after a booming trey by Mikey Williams.

Beirut, however, would mount a 17-3 uprising capped by Mohamad Ali Haidar’s bucket to strike to within 71-78 in the final three minutes before SGA’s strong finishing kick.

Mr. Williams and Malachi Richardson threw in eight and seven, respectively, as Chris McCullough had six points this time around after leading SGA in its first two wins.

Mr. McCullough, the former PBA champion import with San Miguel, dropped 28 points in SGA’s 99-91 win over the United Arab Emirates national team before scoring 31 in the team’s 99-87 win against Al Nasr.

Lebanon national team veterans Sergio El Darwich and Mohamad Ali Haidar had 26 and 18 points, respectively, for Beirut that fell to second place in Group A with a 2-1 slate. — John Bryan Ulanday

Neymar leaves Al-Hilal by mutual agreement

NEYMAR has parted ways with Al-Hilal by mutual consent, the Saudi Pro League champions said on Monday, after a disappointing spell at the club for Brazil’s all-time top scorer.

The 32-year-old sustained a knee injury in Brazil’s World Cup qualifier against Uruguay in October 2023 and has struggled to get back to his best.

“Al-Hilal Club Company and Neymar Jr. have agreed to terminate their contractual relationship by mutual consent” The Saudi club posted on X.

Neymar has played only seven games for Al-Hilal since moving from Paris Saint-Germain (PSG) for a reported fee of around €90 million ($98 million) in August 2023.

Brazilian media have reported that Neymar, who has scored 79 goals for the national team, will return to his childhood club Santos after leaving in 2013 to join Barcelona.

He moved to PSG from Barca for a world record fee of €222 million in August 2017. — Reuters

Filipinas kick off 9-day training camp at MOA football field

THE Philippine women’s football team set the kickoff for their buildup for coming international sorties right where its heart is — at home.

The Filipinas, who gained prominence with their historic debut in the FIFA Women’s World Cup in 2023, are booked for a nine-day training camp in February culminating in an intrasquad exhibition match on the 25th at the newly completed Mall of Asia (MOA) Football Field.

“I’m really looking forward to having the Filipinas back in action at home, where the supporters in Manila can get a chance to experience the team up close, in one of the city’s new and exciting football venues,” said coach Mark Torcaso.

Countrymen last saw the Filipinas play on home ground then eventually hoist the trophy for the first time in 2022 Asean Women’s Championship at the Rizal Memorial Stadium.

In June in Indonesia, the Pinay booters are going to defend the title in a stacked schedule that also includes stints in the AFC Women’s Asian Cup Qualifiers and the Southeast Asian Games.

“There’s a lot to play for in 2025. This camp gives us a great opportunity to continue building the foundation for the way we want to play. We cannot wait to be back home to showcase our Filipinas,” said Mr. Torcaso. — Olmin Leyba

Davis’ monster night leads Los Angeles Lakers past Charlotte Hornets 112-107

ANTHONY DAVIS set season highs with 42 points and 23 rebounds to help the visiting Los Angeles Lakers beat the Charlotte Hornets 112-107 on Monday night.

Davis made 17 of 28 shots from the field and reached the 40-point mark for the third time this season. He grabbed eight offensive boards and finished three rebounds shy of matching his career high.

LeBron James racked up 22 points, seven rebounds and eight assists and Austin Reaves added 17 points for the Lakers, who have won four straight games and six of their past seven.

The Hornets played most of the game without their leading scorer, All-Star guard LaMelo Ball, who exited with 8:42 left in the second quarter.

Ball tripped while backpedaling after draining a 3-pointer that pulled Charlotte within 46-30. He didn’t return because of what the team announced as a left ankle sprain. He scored seven points in nine minutes.

Miles Bridges tallied 26 points and eight rebounds to lead the Hornets, who have lost three of their past four games. Josh Okogie posted 19 points and Josh Green had 15 points.

Charlotte trailed by as many as 23 points in the first half before cutting the deficit to nine at the break.

The Hornets mounted a couple of charges in the second half but couldn’t make enough defensive stops even though center Mark Williams was back after missing Saturday’s game with an injury.

Williams scored to pull the Hornets within 108-102 with 1:27 to play before Dorian Finney-Smith drove for a bucket for the Lakers.

Green sank three free throws with 13.3 seconds remaining to close the gap to 110-107 before Davis sealed it at the line for Los Angeles.

The Lakers, in their first outing of four games in six days on the East Coast, survived despite committing 19 turnovers and shooting 6-for-28 (21.4%) from 3-point range.

Los Angeles bolted to a 42-19 lead less than a minute into the second quarter. Then it was Charlotte’s turn to heat up, closing to within 59-51 by halftime.

The Lakers led by a double-figure margin for most of the third quarter. — Reuters

Heat culture

There was a time when seeing stars go out the door without anyone coming back in was a no-no in the National Basketball Association. It didn’t matter whether the point of assessment was in the offseason or the middle of a campaign. General managers simply had to get a return on their asset, no matter how depressed — and preferably on a dollar-for-dollar scenario. As even casual observers know, however, the importance of not being empty-handed following a necessary divorce has greatly diminished in recent memory. If anything, it’s fair to argue that leaving once-critical resources by the wayside sans any direct recompense has become a valid course of action.

Take the Clippers prior to the start of the 2024-25 season, during which supposed vital cog Paul George was allowed — perhaps even encouraged — to pack his bags once it became clear that the trade market for him was tepid at best. For all his worth as a nine-time All-Star, they saw no future in him and his diminishing returns given his asking price. And though it seemed as if they came up empty-handed while the Sixers were spreading the welcome mat for him, they actually did just fine in retrospect. With astute maneuvering, they turned the salary cap space they got from his departure into signed contracts for the likes of James Harden, Nicolas Batum, Derrick Jones Jr., and Kris Dunn, as well as extensions for Ivica Zubac and Terrence Mann.

In other words, there is a way to move past a sticky situation by not falling prey to the sunk cost fallacy. And this, in a nutshell, is why the Heat can afford to play hardball with foundational-piece-turned-distraction Jimmy Butler. For one thing, they have never been receptive to implicit threats such as those he has been known to issue from time to time. Unlike the Bulls, Timberwolves, or Sixers, they have, in fact, dug down deep into their foxhole when their hand is forced. That they’re doing it in this case is no surprise; once upon a time, not even all-time-great Dwyane Wade was spared of their wrath.

Certainly, the Heat’s stubbornness is as much borne of their famed culture as of head honcho Pat Riley’s ingrained beliefs against prioritizing the individual over the collective. And because no one wins against The Godfather in a staredown, Butler would do well to expect a drawn-out process leading to his inevitable exit. In other words, he will be able to get what he wants if and only if it dovetails with what they want. If he won’t bend, he’s in a for a long wait — and ultimately landing in disappointment.

 

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.

UN chief Guterres calls for more exemptions from US aid pause

UNITED NATIONS Secretary-General António Guterres — UN PHOTO/PASQUAL GORRIZ

UNITED NATIONS — United Nations (UN) Secretary-General Antonio Guterres on Monday called for the United States to consider additional exemptions to a 90-day pause on its foreign assistance to “ensure continued delivery of critical development and humanitarian activities.”

Just hours after taking office a week ago, US President Donald Trump announced the pause so foreign aid contributions could be reviewed to see if they align with his foreign policy.

The move risks cutting off billions of dollars of life-saving assistance. The United States is the largest single donor of aid globally. In fiscal year 2023, it disbursed $72 billion in assistance.

Mr. Guterres’ spokesperson Stephane Dujarric said the US was one of the UN’s largest contributors of voluntary humanitarian development aid, and that the world body was trying to work out what impact the pause would have.

“We’re extremely appreciative of the generosity the United States has always shown. We want to work together, to assess, to hear and deal with the concerns of the new US administration, while at the same time ensuring that the most vulnerable remain protected,” Mr. Dujarric told reporters.

There was initial confusion among US lawmakers, aid groups and the United Nations over the scope of Trump’s order. That was cleared up on Friday, when the US State Department issued a “stop-work” order for all existing foreign assistance and paused new aid, according to a cable seen by Reuters.

US Secretary of State Marco Rubio can issue waivers and has given an exemption for emergency food assistance.

“The Secretary-General calls for additional exemptions to be considered to ensure the continued delivery of critical development and humanitarian activities for the most vulnerable communities around the world, whose lives and livelihoods depend on this support,” Mr. Dujarric said.

TOUGHER STANCE
Guterres looks forward to working with the new US administration “on the provision of much needed development support to people grappling with the most difficult challenges confronting the developing world,” Mr. Dujarric said.

Aid and rights groups have also expressed concern about Mr. Trump’s order.

“Any new administration is entitled to review existing foreign aid, but continuing the delivery of important assistance is critical while the review is being conducted,” said Sarah Yager, Washington director at Human Rights Watch.

She said in a statement that US assistance supports medical programs, mine clearance, the protection of human rights defenders and other vulnerable communities, “all of which are at risk without steady funding. “When asked about the aid review, State Department spokesperson Tammy Bruce told Fox News on Monday: “It’s about taking a note of what we’ve been doing and whether or not things need to change and how to best proceed to the future for us… We will not be taken advantage of.”

The pause on US foreign aid is a tougher stance than Trump took during his first term in office between 2017 and 2021, when he threatened the measure.

At the annual UN gathering of world leaders in September 2018, Mr. Trump told the General Assembly that his administration would examine whether countries receiving US aid and protection “also have our interests at heart.”

“Moving forward, we are only going to give foreign aid to those who respect us and, frankly, are our friends,” he said.

However, the US Congress sets the federal government budget and pushed back against Trump’s attempts during his first term to make large cuts to US diplomacy and aid budgets. — Reuters

World’s richest people lose $108B after DeepSeek sell-off

A person shows US dollars at a currency exchange stall in Manila, Philippines, Oct. 21, 2022. — REUTERS

THE world’s 500 richest people, led by Nvidia Corp. co-founder Jensen Huang, lost a combined $108 billion on Monday as a tech-led sell-off tied to Chinese artificial intelligence (AI) developer DeepSeek sent major indices plunging.

Billionaires whose fortunes are linked to artificial intelligence were the biggest losers: Huang saw his fortune fall $20.1 billion, a 20% drop, while Oracle Corp. co-founder Larry Ellison’s $22.6 billion loss was larger in absolute terms, but represented just 12% of his fortune, according to the Bloomberg Billionaires Index. Dell, Inc.’s Michael Dell lost $13 billion, and Binance Holdings Ltd. co-founder Changpeng “CZ” Zhao shaved $12.1 billion.

Tech-sector titans as a group saw $94 billion of wealth evaporate — roughly 85% of the Bloomberg index’s total decline. The Nasdaq Composite Index fell 3.1%, and the S&P 500 dropped 1.5%.

Hangzhou-based DeepSeek has been developing AI models since 2023, but the company first came onto the radar of many Western investors this weekend as its free DeepSeek R1 chatbot app topped download charts worldwide. So many new users piled in that DeepSeek struggled to keep the app online, suffering outages and forcing it to restrict sign-ups to users with Chinese phone numbers.

DeepSeek’s dark-horse entry into the AI race, which it says cost just $5.6 million to develop, is a challenge to Silicon Valley’s narrative that massive capital spending is essential to developing the strongest models. That delivered a serious blow to billionaires whose fortunes are tied to the Western AI supply chain that’s been the equities market’s biggest driver over the past two years.

Soaring valuations for so-called AI hyperscalers — including Meta Platforms, Inc., Alphabet,   Inc. and Microsoft Corp. — have generated billions in wealth for their owners since OpenAI unveiled ChatGPT in November 2022. These companies have for the most part operated on a similar playbook: Spend huge sums to develop and run AI systems by hoarding top-of-the-line semiconductors and the energy supplies needed to run them.

Meta Chief Executive Officer Mark Zuckerberg announced Friday that the company planned to spend $60 billion to $65 billion on projects related to AI this year, well above Wall Street estimates. Capital spending across all Big Tech firms is on pace to reach $200 billion in 2025, according to a Bloomberg Intelligence report.

Despite limited revenue to show for all their investment so far, markets have rewarded US tech stocks with record-high valuations, which have in turn generated historic wealth gains for their owners. Nvidia has stood out as the AI boom’s biggest single winner so far, with Huang’s net worth increasing almost eight-fold to $121 billion since the start of 2023 through Friday. Mr. Zuckerberg’s fortune soared 385% to $229 billion over the same period and Amazon.com, Inc.’s Jeff Bezos gained 133% to $254 billion.

While Huang and Ellison suffered losses, other major tech billionaires’ fortunes escaped unscathed. Mr. Zuckerberg’s net worth ended the day up, gaining $4.3 billion as Meta rebounded from an early-session decline. Mr. Bezos’ wealth climbed by about $632 million.

CAPITAL SPENDING
The fact that DeepSeek was able to develop a free model that potentially rivals or beats competitors including ChatGPT and Anthropic’s Claude at a fraction of the development cost led investors to question the logic behind Silicon Valley’s dependence on capital spending.

A key reason why DeepSeek didn’t rely on big investment and top-of-the-line chips to develop its model is that Chinese firms have had limited access to the powerful GPUs, or graphics processing units, most Western companies rely on ever since the US government instituted strict export controls on the most advanced chips.

In an interview with CNBC last week, Alexandr Wang, CEO of training data provider Scale AI, said that despite the export controls, DeepSeek and other Chinese developers likely have more GPUs than Silicon Valley is aware of.

“The Chinese labs have more H100s than people think,” Mr. Wang said, referring to Nvidia’s top-of-the-line AI chip. “My understanding is that DeepSeek has about 50,000 H100s, which they can’t talk about, obviously, because it’s against the export controls that the US has in place.” — Bloomberg

Auschwitz survivors warn of dangers of rising antisemitism at anniversary of camp’s liberation

A GENERAL VIEW of the “Arbeit Macht Frei” gate at Auschwitz, on the day of the 80th anniversary of the liberation of Auschwitz-Birkenau death camp on Jan. 27, 2025. — VICTORIA JONES/POOL VIA REUTERS

OSWIECIM, Poland — Auschwitz survivors warned of the dangers of rising antisemitism on Monday, as they marked the 80th anniversary of the liberation of the Nazi German death camp by Soviet troops in one of the last such gatherings of those who experienced its horrors.

The ceremony at the site of the camp, which Nazi Germany set up in occupied Poland during World War II to murder European Jews on a huge scale, was attended by German Chancellor Olaf Scholz, Ukrainian President Volodymyr Zelensky, Britain’s King Charles, French President Emmanuel Macron, Polish President Andrzej Duda and many other leaders.

They did not make speeches, but rather listened for perhaps the last time to those who suffered and witnessed at first hand one of humanity’s greatest atrocities.

Israel, founded for Jews in the shadow of the Holocaust, sent Education Minister Yoav Kisch.

“We see in the modern world today a great increase in antisemitism, and it was antisemitism that led to the Holocaust,” said Marian Turski, 98, who was sent to Auschwitz in 1944 and survived the westward ‘death march’ to Buchenwald in 1945.

“Let’s not be afraid to convince ourselves that we can solve problems between neighbors.”

Retired physician Leon Weintraub, 99, who was separated from his family and sent to Auschwitz in 1944, warned of the dangers of intolerance.

“I ask you to multiply your efforts to counteract the views whose effects we are commemorating today,” he said.

Author and academic Tova Friedman, 86, said “80 years after the liberation, the world is again in crisis.”

“Our Jewish-Christian values have been overshadowed worldwide by prejudice, fear, suspicion and extremism,” she said, “and the rampant antisemitism that is spreading among the nations is shocking.”

Antisemitic incidents have surged in part along with protests against Israel in many parts of Europe, North America and Australia since Israel launched its assault on the Palestinian enclave of Gaza after attacks on Israel by Hamas militants on Oct. 7, 2023.

Ronald Lauder, president of the World Jewish Congress, said on Monday that hatred of Jews was rising against the backdrop of that war, adding: “Young people are getting most of their information from social media, and that is dangerous.”

Before the ceremony, which took place in a tent built over the gate to the former Auschwitz II-Birkenau camp, leaders stressed how important it was to preserve the memory of the Holocaust.

“The act of remembering the evils of the past remains a vital task, and in so doing we inform our present and shape our future,” King Charles said during a visit to the Jewish Community Center in Krakow.

President Duda told reporters at the camp that “we Poles, on whose land the Germans built this concentration camp, are today the guardians of memory.”

That remembrance of crimes committed in the name of Nazi notions of racial superiority has itself become an acutely political issue in recent years with the rise of far-right parties across Europe.

‘HISTORICAL GUILT’
On Saturday, billionaire Elon Musk, high-profile adviser to US President Donald Trump, made a video address to supporters of Germany’s AfD (Alternative fuer Deutschland), which is running second in polls for the Feb. 23 election on a platform that includes playing down historical guilt for the Holocaust.

“Children should not be guilty of the sins of their parents, let alone their great grandparents,” said Mr. Musk, who himself laid a wreath at Auschwitz a year ago.

The rally prompted Polish Prime Minister Donald Tusk to say that “the words we heard from the main actors of the AfD rally about ‘Great Germany’ and ‘the need to forget German guilt for Nazi crimes’ sounded all too familiar and ominous.”

More than 1.1 million people, mostly Jews, perished in gas chambers or from starvation, cold and disease at Auschwitz, where most had been brought in freight wagons, packed like livestock.

More than three million of Poland’s 3.2 million Jews were murdered by the Nazis.

In all, between 1941 and 1945, Nazi Germany and its collaborators systematically murdered six million Jews across German-occupied Europe, along with gypsies, sexual minorities, disabled people and others who offended Nazi ideas of racial superiority. — Reuters

Google Maps to rename ‘Gulf of Mexico’ to ‘Gulf of America’ for US users

REUTERS

WASHINGTON — Google Maps will change the name of “Gulf of Mexico” to “Gulf of America” once it is officially updated in the U.S. Geographic Names System, Google said in an X post on Monday.

The change will be visible in the U.S., but the name will remain “Gulf of Mexico” in Mexico. Outside of the two countries, users will see both names on Google Maps.

The Trump administration’s Interior Department said on Friday it had officially changed the name of the Gulf of Mexico to the Gulf of America, and the Alaskan peak Denali, the tallest mountain in North America, to Mount McKinley.

Google Maps, which is owned by Alphabet’s Google, will make a similar change with Mount McKinley.

President Donald Trump ordered the name changes as part of a flurry of executive actions hours after taking office on Jan. 20, making good on a campaign promise.

“As directed by the President, the Gulf of Mexico will now officially be known as the Gulf of America and North America’s highest peak will once again bear the name Mount McKinley,” the Interior Department said in a statement last week.

Mexican President Claudia Sheinbaum earlier this month jokingly suggested North America, including the United States, be renamed “Mexican America” — a historic name used on an early map of the region.

Reached for comment, a Google spokesperson referred Reuters to the company’s X post.

Google has applied the same locale-based labeling conventions to other locations subject to naming disputes.

Outside of Japan and South Korea, the body of water bordering both nations is listed as the “Sea of Japan (East Sea).”

In 2012, Iran threatened to take legal action against Google over its decision to drop the term “Persian Gulf” from its Google Maps and leaving the waterway between Iran and the Arabian peninsula nameless. The body of water is now labeled “Persian Gulf (Arabian Gulf)” in other countries. — Reuters

[B-SIDE Podcast] Closer look at childhood cancer care in the Philippines

Follow us on Spotify BusinessWorld B-Side

Cancer affects over 5,000 children in the Philippines annually. Although highly treatable, late diagnoses and other factors contribute to the country’s low survival rate of just 30%.

In this B-Side episode, we speak with Dr. Ana Patricia A. Alcasabas, head of Pediatric Hematology-Oncology at the Philippine General Hospital (PGH) and chair of the National Sub-Technical Working Group for Childhood Cancer, as she discusses the country’s challenges in fighting childhood cancer.

She also talks about childhood cancer care at PGH and how the institution leads initiatives to improve care in the country.

Interview by Edg Adrian A. Eva
Audio editing by Jayson Mariñas

Follow us on Spotify BusinessWorld B-Side

Philippines’ sovereign wealth fund interested in Chinese stake in grid operator

MANILA – The Philippines’ sovereign wealth fund would be interested in the stake held by China’s State Grid Corp in the operator of the country’s power grid, its president said on Tuesday.

Maharlika Investment Corp president and chief executive officer Rafael Consing Jr told a press conference the wealth fund, which on Monday announced it was buying into the National Grid Corp of the Philippines, has not spoken to the Chinese firm but said it would be interested in the stake if it becomes available.

China’s State Grid Corp holds a 40% stake in NGCP, which holds a 25-year concession to run the country’s sole power transmission operator since winning the contract in 2007. — Reuters

Trump says Microsoft is in talks to acquire TikTok

MAY GAUTHIER-UNSPLASH

U.S. President Donald Trump told reporters on Monday that Microsoft is in talks to acquire TikTok and that he would like to see a bidding war over the app.

Microsoft and TikTok did not immediately respond to Reuters’ requests for a comment outside regular business hours.

Mr. Trump has previously said that he was in discussions with several parties about purchasing TikTok and expects to make a decision on the app’s future within the next 30 days.

The app, which has about 170 million American users, was briefly taken offline just before a law requiring ByteDance to either sell it on national security grounds or face a ban took effect on Jan. 19.

Mr. Trump, after taking office on Jan. 20, signed an executive order seeking to delay by 75 days the enforcement of the law that was put in place after U.S. officials warned that there was a risk of Americans’ data being misused under ByteDance. – Reuters