CAITLIN CLARK recorded her franchise-record 14th double-double of the year with 26 points and 12 assists to lead the Indiana Fever to a dramatic 104-100 comeback win in overtime (OT) on Sunday over the visiting Atlanta Dream.
Aliyah Boston scored off an inside move with 1:03 left in overtime to give Indiana a 100-98 lead and the Fever (19-17) held on from there. Boston dominated with a career-high 30 points as well as 13 rebounds as the Fever won for the sixth time in seven games. They are 8-2 since the All-Star/Olympics break.
Kelsey Mitchell added 21 and Lexie Hull scored 12, all from the 3-point line to help lead the Fever.
The Dream lost despite a 36-point effort by Rhyne Howard, who missed a shot in the final minute that would have tied the game for the 13th time.
Atlanta (12-23) had a balanced attack in defeat. Tina Charles scored 17 points, and Allisha Gray and Jordin Canada each finished with 15.
Howard made two free throws with 27 seconds remaining in regulation to give Atlanta a 90-88 edge, but Boston tied the score on a layup with 18 seconds left and the game went to overtime. Clark sank two free throws with 23 seconds remaining in OT for a 102-98 lead for the Fever. — Reuters
La Niña has a 66% chance of occurring between September and November, with recent inclement weather serving as early warning signs, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA).
The recent heavy rains were caused by the enhanced Southwest Monsoon and severe tropical storm Enteng, which has now been downgraded to a tropical depression after battering China.
Also, two low-pressure areas (LPAs) are being monitored outside the Philippine Area of Responsibility (PAR) as they might develop into tropical cyclones.
“These are the precursory signs of developing into La Niña. Our warm waters near our Philippine Sea or the sea surface temperature is becoming more favorable for rain-bearing weather systems,” Ana Liza Solis, chief of the climate monitoring and prediction section of PAGASA said in an interview.
La Niña phenomenon heightens the likelihood of several weather disturbances, including Tropical Cyclones, LPAs, and the Intertropical Convergence Zone (ITCZ), and intensifies the ongoing Southwest Monsoon, Ms. Solis said.
Once declared, La Niña is expected to last until the first quarter of 2025 (January to March) and could trigger an additional six to ten tropical cyclones by the end of the year, which is still below average.
“In general, makikita natin, this is below average from the twenty tropical cyclones that we could receive in a year,” Ms. Solis said.
Areas in the eastern section of the country, including the Bicol region, Eastern Visayas, and Eastern Mindanao, are the most vulnerable to the potential threat of La Niña.
“This La Niña may bring heavy rainfall events which may result in flooding and then induced landslides, lalong-lalo na doon sa mga highly vulnerable areas natin (especially on our highly vulnerable areas), therefore mas high ang risk (therefore the risk is higher) and floodings may become frequent,” she said.
PAGASA is bolstering its La Niña awareness efforts, particularly in highly vulnerable areas, by conducting commissioned forums.
Ms. Solis highlighted the importance of the community’s coordination with local Disaster Risk Reduction and Management Offices (DRRMO) in preparation for La Niña.
For public, “always have your disaster emergency kit ready,” and to regularly check flood warnings and advisories from PAGASA, Ms. Solid said. – Edg Adrian A. Eva
US VICE-PRESIDENT Kamala Harris delivers remarks during a campaign event at West Allis Central High School in West Allis, Wisconsin, US, July 23, 2024. — REUTERS
REPUBLICAN presidential candidate Donald Trump and his Democratic rival Vice-President Kamala Harris are effectively tied heading into the final weeks of the election, according to a national poll conducted by The New York Times and Siena College.
Mr. Trump is up one percentage point, 48%-47%, over Ms. Harris, according to the survey released on Sunday, a difference that is well within the survey’s three-point margin of error, meaning a win for either candidate in the Nov. 5 election is well within reach.
While the Trump campaign endured a relatively rocky stretch in the weeks after Democratic President Joseph R. Biden dropped out of the race in July, the most recent polling indicates the core of his support base is not going anywhere.
The poll notably showed that voters feel they need to learn more about Harris, while their opinions on Trump are largely set. In the survey, 28% of likely voters said they needed more information about the Democratic nominee, while only 9% said the same about Trump.
The poll indicates that Tuesday’s presidential debate could be a crucial moment.
Ms. Harris will have the opportunity to give more detail of her planned policies as she spars with Trump over the course of 90 minutes. The race is so close that even a marginal boost for either candidate would be significant.
Since Ms. Harris replaced Mr. Biden atop the Democratic ticket over the summer, she has hit the campaign trail hard, but has limited her unscripted appearances and kept interviews with the news media to a minimum.
The key figures from the latest poll are similar to the last comparable New York Times/Siena College survey, released in late July. In that poll, Mr. Trump was also up one percentage point, a difference well within the margin of error.
Polls in the seven key swing states likely to determine the winner of the election have also consistently shown a razor-thin race. — Reuters
ATHENS — Greece plans to impose a 20-euro levy on cruise ship visitors to the islands of Santorini and Mykonos during the peak summer season, in a bid to avert overtourism, Prime Minister Kyriakos Mitsotakis said on Sunday.
Greece relies heavily on tourism, the main driver of the country’s economy which is still recovering from a decade-long crisis that wiped out a fourth of its output.
But some of its most popular destinations, including Santorini, an idyllic island of quaint villages and pristine beaches with 20,000 permanent residents, risk being ruined by mass tourism.
Speaking at a press conference a day after outlining his main economic policies for 2025, Mr. Mitsotakis clarified that excessive tourism was only a problem in a few destinations.
“Greece does not have a structural overtourism problem… Some of its destinations have a significant issue during certain weeks or months of the year, which we need to deal with,” he said.
“Cruise shipping has burdened Santorini and Mykonos and this is why we are proceeding with interventions,” he added, announcing the levy.
Greek tourism revenues stood at about 20 billion euros in 2023 on the back of nearly 31 million tourist arrivals.
In Santorini, protesters have called for curbs on tourism, as in other popular holiday destinations in Europe, including Venice and Barcelona.
Part of the revenues from the cruise shipping tax will be returned to local communities to be invested in infrastructure, Mr.Mitsotakis said.
The government also plans to regulate the number of cruise ships that arrive simultaneously at certain destinations, while rules to protect the environment and tackle water shortages must also be imposed on islands, he said.
Greece also wants to increase a tax on short-term rentals and ban new licenses for such rentals in central Athens to increase the housing stock for permanent residents, Mr. Mitsotakis said on Saturday. — Reuters
TOKYO — Japan will likely see another stimulus package under a new prime minister, with several candidates running in the ruling party’s leadership race pledging fresh spending measures to boost growth and cushion the blow to households from rising inflation.
In announcing his intention to run in the race to replace incumbent Prime Minister Fumio Kishida, Chief Cabinet Secretary Yoshimasa Hayashi said on Monday he would prefer boosting spending, rather than cutting taxes, if the economy requires another stimulus package.
Another candidate and minister in charge of economic security, Sanae Takaichi, also called for more fiscal spending to strengthen the economy.
“Strategic deployment of fiscal spending will increase jobs, household income, and improve consumer sentiment. It will also increase tax revenues without raising the tax rate and help build a strong economy,” Ms. Takaichi told a press conference on Monday to announce her intention to run in the leadership election.
The remarks followed those by leading candidate, Shinjiro Koizumi, on Friday that he would “immediately” work on a new economic package to aid small firms and low-income households hit by rising living costs.
“I’ll aim to beef up the underlying strength of the Japanese economy so that growth can be attained even in an era where inflation and higher interest rates co-exist,” Koizumi said.
The winner of the Liberal Democratic Party’s (LDP) leadership race, scheduled on Sept. 27, will become next prime minister due to the party’s control of parliament.
Mr. Kishida announced last month that he would step down as LDP chief in September, effectively ending a three-year term as leader of the world’s fourth-largest economy.
Mr. Kishida’s successor is likely to dissolve parliament next month after being chosen as prime minister in an extraordinary parliament session, and call a snap election, analysts say.
Ruling party lawmakers traditionally make pledges of big spending packages to lure voters when elections near, a trend that led to a ballooning public debt which, at twice the size of Japan’s economy, is the biggest among advanced nations.
The candidates have offered few clues on their views on monetary policy. Hayashi declined to comment, when asked about market expectations that the Bank of Japan (BOJ) is likely to raise interest rates further.
Mr. Koizumi did not directly comment on monetary policy, but said he would “basically carry over” the economic policies of Mr. Kishida’s administration. — Reuters
BERLIN — Germany’s domestic intelligence agency has warned against a cyber group belonging to Russian military intelligence (GRU) Unit 29155, saying it has carried out cyberattacks against the North Atlantic Treaty Organization (NATO) and European Union (EU) countries.
In a post on social media platform X on Monday, the Bundesverfassungsschutz said it was issuing the warning against the group known as UNC2589 alongside the FBI, US cybersecurity agency CISA, the NSA and further international partners.
The warning comes at a time of heightened anxiety in Europe over suspected Russian hackers and spies since Moscow’s invasion of Ukraine in 2022.
Earlier this year, Berlin accused Russia of a slew of cyberattacks on Germany’s governing Social Democrats as well as companies in the logistics, defense, aerospace and IT sectors.
In its warning, the intelligence agency said the group, also known as Cadet Blizzard or Ember Bear, conducts activities for the purpose of espionage and sabotage that often involve defacing websites and publishing stolen data.
The GRU unit to which it belongs is known for its suspected involvement in the poisoning of former Russian double agent Sergei Skripal and his daughter Yulia in Britain in 2018, according to the agency. — Reuters
HUMAITA, Brazil — Water levels in the rivers that run through the vast Amazon rainforest have been falling, after a record drought followed by less rain, presenting unprecedented challenges for the Ribeirinhos people living there.
With rivers becoming more difficult to navigate and water too dirty to consume, many of the traditional rural population who live on river banks have been relying on outside supplies of drinking water.
Francisca das Chagas da Silva, a resident, said older people in particular have strugwgled because they needed to walk much further to get water. “We have to carry it from the riverbanks to our homes,” she said.
The Ribeirinhos usually get water directly from rivers or have connected systems — but these means of supply fail when water levels drop so dramatically.
Now, many residents rely on nongovernmental organizations or the state government for drinking water.
Joao Ferreira Mendonca, a community leader, said the river bank was about 800 meters (0.5 miles) away from some homes, a long distance for an older person or one with health problems.
“Now imagine a person in the hot sun, people with high blood pressure, doing this journey,” he said.
The Brazilian Geological Service, SGB, has warned in recent days that all rivers in the Amazon basin were expected to drop below their historical levels.
Ribeirinhos usually live on river banks in pile dwellings — from where they move with motor boats.
Rosicleia Gomes Vieira, another resident, said life in general was becoming much more isolated because the low water levels make navigation more difficult and impossible to carry produce to the city.
Other than the rivers, which have long been the main way of transport for residents, there is only a long dirt road that cuts through the dense rainforest.
In Brazil, where wildfires have also occurred, the low water levels are also hitting soy and corn shipments in center-west states such as Mato Grosso, Brazil’s number one grains growing area. — Reuters
New year, new me. This is what most people have in mind every January when they make a promise to reinvent themselves by making changes and setting New Year’s resolutions like traveling to a new destination, spending more time with loved ones, losing weight and saving more money.
While goal setting is typically done at the start of the year, Metrobank encourages you to take this desire for change a notch higher this year by creating a new tradition of starting your planning now — ideally in August or the third quarter.
Why August or the third quarter? Metrobank believes this is the best time to start planning and setting financial resolutions that are not just realistic, but also doable.
New Year’s resolutions are usually made in January, but these are likely to be missed, with the failure rate at 88 percent to 92 percent as people during this time are still recovering from the holiday spending binge.
By planning your budget and purchases now, Metrobank wants to help you manage your holiday bonus spending wisely so you can start the new year strong with solid financial footing.
To help you plan, Metrobank suggests you take note of this cheat code: GIFT.
G – Get ahead with your holiday goals.
By starting early or in August, you get more time to properly plan how to spend your Christmas bonus that you’ll likely receive within the fourth quarter.Want to spend it on gifts for your loved ones and yourself? Planning early will give you time to compare prices of items to get the best deals.
This is also a good time to set or revisit short-term goals like going on a holiday trip or coming up with long-term goals such as setting aside emergency funds, saving for retirement or preparing for milestone purchases like a car, a house or spending for education.
I – Invest your bonus wisely.
You know you will have more cash after receiving your holiday bonus. Instead of spending it all, set aside a portion for investments in financial instruments like UITF, mutual funds, bonds, stocks or even to start a small business to let your money grow. Thinking about your investment options as early as August will give you a good head start.
F – Follow a budget plan.
Companies usually give employees their Christmas bonus during the season of giving, which is also the time to treat yourself and your loved ones. But this does not mean you have to splurge or spend it all at once. To keep your spending in check, it is important to set a budget and a plan. Using a budget expense worksheet will help you keep tabs on your purchases.
T – Take advantage of opportunities to save.
While it may be tempting to overspend during the holiday season, as long as you stick to your plans and priorities, it will be okay. If you’re planning to make big ticket purchases like a new car or moving to a bigger home, think about these goals and maximize opportunities to save. Be mindful of offers and look for meaningful bargains.
Metrobank hopes this GIFT will help you succeed and reach your financial goals in the year ahead.
For more insights and tools to guide your financial journey, visit Metrobank’s Earnest learning website today at https://earnest.metrobank.com.ph.
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In photo are PDO Operations Manager Engr. Alvin Clerigo (left), PDO Marketing Supervisor Laica Triza Cruz (2nd from right), and IGFI Corporate Social Responsibility Officer Deo Esmabe (right) together with the successful home business owners from Pampanga.
Pueblo de Oro Development Corporation (PDO) recently recognized the value of hard work by extending additional livelihood assistance to dedicated residents of Pampanga who have shown perseverance in sustaining their micro-businesses.
The beneficiaries are graduates of the “Kabalikat sa Negosyo” livelihood training program, in collaboration with the ICCP Group Foundation, Inc. (IGFI), the social development arm of PDO for its host communities in Barangay Del Carmen, San Fernando, Pampanga. Kabalikat sa Negosyo is an ongoing training program that started in 2021 and to date has helped around 120 individuals who are mostly women in Sto. Tomas and Malvar, Batangas, and San Fernando, Pampanga.
Operating home-based eateries, these beneficiaries have demonstrated commendable work ethic, resilience, and aptitude, as observed during IGFI’s regular monitoring visits. Their efforts have allowed them to maintain their small businesses, providing a steady source of income for their families.
Pueblo de Oro and IGFI hope that this additional livelihood assistance will enable these beneficiaries to further grow their businesses and serve as inspirations to other members of their community.
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A La Niña watch alert was issued by the Philippine weather bureau in March, indicating that the phenomenon is likely to occur this year.
Recently, there has been growing concern about whether La Niña has arrived in the Philippines due to the continuous heavy rains caused by several tropical cyclones, such as Enteng and Carina, along with the enhanced effects of the Southwest Monsoon.
In this B-side episode Ana Liza Solis, the assistant weather services chief and the chief of the climate monitoring and prediction section of PAGASA, discusses how the La Niña phenomenon occurs, its effects, and how to prepare for it.
Interview by Edg Adrian A. Eva Editing by Jayson John D. Marinas
Filinvest Hospitality’s Crimson Hotel in Filinvest City, Alabang (left) and EastWest’s Main Office at The Beaufort in BGC (right), showcasing the diversity of FDC’s business portfolio.
The Filinvest Group continues to move fast forward this 2024, reinforcing its commitment to sustainable growth and sharing with its stakeholders the promise of enabling more Filipinos to achieve their dreams.
Founded by Andrew and Mercedes Gotianun in 1955, Filinvest Development Corp. (FDC) has evolved into a leading conglomerate with strategic investments in real estate, banking, power, hospitality, sugar, and infrastructure.
Today, Filinvest is growing and shaping its businesses by driving synergies across the group, making the company more resilient and future-ready.
“As a cohesive group, Filinvest’s portfolio companies can leverage on key platforms that will drive operational excellence and improve ways of working so that our businesses can focus on business building. Armed with a strategic framework, Filinvest’s goal is to Fast Forward Filinvest,” said FDC President and CEO Rhoda Huang.
All efforts aim to achieve and ensure that Filinvest delivers an enhanced experience for its diverse customers.
Fast Forward: The Consumer Dream
Filinvest’s banking arm, East West Banking Corp., one of the largest consumer lending banks in the country, continues to expand its market nationwide. After growing its portfolio to P237.3 billion in 2023, EastWest is enhancing its loan segments and embracing digital transformation to capitalize on its strength as a banking powerhouse.
Under the leadership of CEO Jerry Ngo, EastWest is investing in digital banking capabilities and allocating over P2 billion to bolster the IT and cybersecurity departments. Recently, the bank launched digital products like Easy Way and Easy Biz, aiming to speed up the usual bank processes, including deposits, withdrawals, and loan payments.
This year, EastWest is celebrating its 30th anniversary which kicked off with a golf tournament celebration for its clients and partners at the Filinvest Mimosa Plus Leisure City in Clark. The program was a collaboration among Filinvest brands, namely EastWest, Mimosa Plus Golf Course, and Filigree, showcasing a collective ambition to enhance customer experience.
Fast Forward: Building the Filipino Dream
In real estate, Filinvest is providing value for money homes, sustainable communities, and future ready townships to every Filipino. Through its 51 integrated mixed-use developments, including central business districts and mid-rise townships, it aims to uplift lives, provide more homes and support local communities.
Under the leadership of President and CEO Tristan Las Marias, Filinvest Land Inc. (FLI) as a full-range property developer continues to fulfill their aim to build townships, residential communities, retail and office spaces, and industrial parks. With a landbank of 2,300 hectares, it has more than 200 projects across 22 provinces and towns in the Philippines.
This year, FLI plans to launch P25 billion worth of residential projects. The first mid -rise condominium community project in Bacoor, Cavite called Sydney Oasis is in the works, along with a new sea-side resort-inspired condominium community in Dumaguete City called Futura Shores Dumaguete, among others.
Sorrento Oasis is Filinvest Land Inc.’s largest mid-rise building in Pasig City under the Aspire by Filinvest brand, offering low-density condo communities.
Recently, FLI sealed a lease deal with the Department of Trade and Industry (DTI) for its entire Filinvest Buendia building, spanning 10,668.40 square meters and won the bid to lease office space for the Main Office of the National Bureau of Investigation (NBI) at the Filinvest Cyberzone Bay City (FCBC) in Pasay City.
From a GLA of 250,000 sq.m., Filinvest Malls will be adding 120,000 sq.m. within the next three years in Clark Mimosa+, Iloilo, Bacolod, and Rizal, and mixed-use buildings in Quezon City and Dumaguete, among others.
Furthermore, to bolster the economies of the nation’s emerging regions, Filinvest is spearheading the establishment of expansive industrial parks in both Filinvest New Clark City and Ciudad de Calamba.
Engines of growth
As an engine of growth for the Filinvest Group, Filinvest Hospitality Corp. (FHC) is expanding its portfolio and contributing to the revitalization of the country’s tourism industry.
FHC’s varied portfolio includes well-established brands such as Crimson Hotels & Resorts, Quest Hotels & Resorts, Mimosa Plus Golf Course, Timberland Highlands Resort, and Timberland Mountain Bike Park in San Mateo, Rizal. In addition, it operates renowned F&B brands such as Baker J, Firehouse Pizza, and Alibi Lounge & Bar.
Artist’s perspective of Grafik Hotel Collection’s F&B outlet.
In partnership with the Bases Conversion and Development Authority (BCDA) and John Hay Management Corp. (JHMC), FHC is set to open its newest hotel brand by 2025, the Grafik Hotel Collection in Baguio City.
Meanwhile, Filinvest, through FDC Utilities, Inc. (FDCUI), has also been a key player in the power sector since 2009. As it continuously works to support the country’s energy needs through its 405-megawatt (MW) baseload power plant in Misamis Oriental, FDCUI is also boosting its capacity by means of developing renewable energy projects. Earlier this year, the company successfully completed the 3.4MW Cotabato Sugar Biomass Project in Matalam, North Cotabato. More recently, FDCUI was awarded a green lane certificate of endorsement by the Board of Investments for its 33.400MW Pampang Hydroelectric Power Project.
Other notable projects currently in the pipeline include the 20MW PHIVIDEC Misamis Solar Power Project that can inject 30,450 megawatt-hours of clean energy annually into the grid, the 11MW Cotabato Solar Farm Project, and the commercial and industrial solar rooftop projects in Cebu and Laguna totaling 15MW. These initiatives are among many that Filinvest is pursuing to help attain energy security across the country.
As the Filinvest Group grows as one, it is guided by a common purpose—enabling more Filipinos to achieve their dreams.
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Meralco actively invests in the improvement of its distribution network to improve the delivery of electricity service to its customers. Seen in the photo are Meralco crews conducting maintenance and upgrading activities.
The Manila Electric Company (Meralco) has ramped up investments in energy infrastructure, technology, and innovation as part of its efforts to continuously ensure the delivery of stable and reliable electricity service to its growing number of customers.
As the largest distribution utility in the country, Meralco continuously works to meet the increasing demand for electricity while supporting the country’s energy security and sustainability goals.
“Beyond the core distribution business, we continue to invest in more generation capacity which will help address, if not eliminate, instances of supply insufficiency in the country’s power grid, and support the growing demand for power,” Meralco Chairman and Chief Executive Officer Manuel V. Pangilinan said.
“Our plans are well aligned with the country’s pursuit to develop more energy infrastructure and sustainable energy solutions that can promote energy security that can benefit not just consumers in our franchise area, but also cater to the power needs of our unserved and underserved communities,” he added.
Key distribution network projects
In the first half of 2024, the company already completed several key projects to strengthen and enhance the resiliency of its distribution network.
Among these is the new gas-insulated switchgear (GIS) Pallocan West Substation in Batangas City, which enhances the reliability of power distribution in the area. The company also expanded the Eton Centris 115 kV – 34.5 kV GIS Substation in Quezon City.
Other projects completed by Meralco so far this year are the development of a new control house with switchgear room at the Novaliches Substation; the replacement of the 34.5 kV Switchgear No. 1 at Meycauayan Substation in Bulacan; and the development of the Napindan 115 kV switching station in Taguig City.
Securing sufficient power supply
To secure sufficient power supply at the least cost to consumers, Meralco also conducted multiple Competitive Selection Processes (CSPs) in accordance with its approved Power Supply Procurement Plan. This is critical to securing long-term power supply agreements that provide stable and affordable electricity to its customers.
The distribution utility recently completed CSPs for its 1,200 MW, 1,800 MW, and 400 MW baseload power supply requirements.
As part of its compliance with the Government’s Renewable Portfolio Standards policy that requires distribution utilities to source a portion of their supply from renewable energy (RE), Meralco also recently conducted a CSP for its 500 MW RE mid-merit power supply requirement beginning March 2025 for the first 350 MW which will be increased by 150 MW by March 2026. The best bids are currently undergoing post-qualification evaluation and will be submitted for review and approval of the Energy Regulatory Commission thereafter.
Sustainability and social responsibility
Aligned with the country’s sustainability goals, Meralco’s wholly owned power generation unit, Meralco PowerGen Corp. (MGen), is aggresively expanding its renewable energy portfolio.
As of June 2024, MGen delivered 7,633 GWh of energy and has a total power generation capacity of 2,404 MW (net). This includes a diversified portfolio of power generation assets in the Philippines and Singapore.
Meralco has also progressed with its efforts to explore the adoption of nuclear energy in support of the government’s goal of energy security.
The company recently sent five engineers abroad—three to Harbin Engineering University in China and the remaining two to University of Illinois Urbana-Champaign in the United States—under its Filipino Scholars and Interns on Nuclear Engineering (FISSION) program.
On the social responsibility front, Meralco continues to implement programs and projects that benefit communities in and outside its franchise area through the One Meralco Foundation (OMF).
In the first half of the year alone, OMF has already assisted 475 low-income households through its household electrification program. Additionally, the foundation powered two public schools on an island in Camarines Norte, benefiting over 900 students.
Under its flagship environmental program One for Trees, the foundation has nurtured over 2.3 million trees across various reforestation sites nationwide, providing livelihood opportunities to over 2,000 tree farmers.
Recently, 17,633 new mangroves and trees were planted in reforestation sites in Panay and Cebu as well as in the Del Carmen Mangrove Sanctuary in Siargao Islands, Surigao Del Norte.
“As an active partner of the government in nation-building, we will also endeavor to further contribute to the aggressive infrastructure development and economic missions and support such policies that will attract more investments and create jobs for more Filipinos,” Mr. Pangilinan said.
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