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Bill lowering tax on stock transactions expected to increase trading activity

REUTERS

By Beatriz Marie D. Cruz, Reporter

A PROPOSAL to lower taxes on stock collections is expected to increase trading activity and even attract more foreign investors, stock market analysts said at the weekend. 

“The proposed House bill strikes a good balance between supporting the stock market and maintaining an appropriate fiscal position,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.

“The reduction in friction costs would create opportunities for active investors to tighten bid-ask spreads and add market liquidity,” he added, noting that the measure would boost the appeal of real estate investment trusts and other dividend stocks to foreign individual investors.

House Bill No. 8958 or the proposed Capital Markets Efficiency Promotion Act, seeks to reduce taxes on stock transactions from 0.6% to 0.1% of the value of the stock, and dividends to non-resident foreigners from 25% to 10%.

It also imposes a tax on debt instruments of 0.1%, at par with the reduced rate for stock transactions.

Albay Rep. Jose Ma. Clemente S. Salceda said the Palace and other agencies have been pushing for measures to improve the “overall liquidity of the Philippine Stock Exchange (PSE).”

“(This tax reform) can be simpler and faster than the Passive Income and Financial Intermediaries Taxation Act or PIFITA, which might be too comprehensive and broad-ranging that time might not be on our side,” he said in a statement last week.

Globalinks Securities and Stocks, Inc. Head of Sales Trading Toby Allan C. Arce said reducing the tax on stock transactions will decrease the cost of buying and selling stocks, leading to more trading activity.

“Investors might be more inclined to engage in the stock market due to the lower transaction costs. Higher trading activity can contribute to market liquidity and better price discovery,” Mr. Arce said in a Viber chat.

Unicapital Securities, Inc. Senior Equity Research Analyst Carlos Angelo O. Temporal said market activity “has remained lackluster for the past six months,” and expressed doubt about tax adjustments enhancing trading and investment.

“Given the prevailing pessimistic sentiment in the equity market stemming from various macroeconomic concerns — such as underwhelming domestic GDP figures, China’s economic deceleration, the weakening peso, heightened chances of another Fed rate hike, and emerging inflationary pressures — it’s improbable that the suggested reduction in taxes on stock transactions will substantially enhance market activity, which has remained lackluster for the past six months,” he said via Viber.

Analysts said that lowering dividends tax of non-resident foreigners will help bring in foreign investment.

“The supplementary net returns from the tax reduction could effectively amplify foreign inflows, offering a beneficial impact to the market,” Mr. Temporal said.

Mr. Arce also said that lowering the dividend tax will make the market more globally competitive.

Mr. Colet noted that reducing the dividend tax could also be problematic for the government’s fiscal position.

“It is understandably not the right time for such a cut as that would have further eroded tax revenue,” he said.

To further encourage trading activity, Mr. Colet said the PSE should prepare for short-selling as well as the development of a derivatives market.

Mr. Arce said that the government should look into financial literacy and investor education initiatives to encourage stock investment.

To make trading fair and efficient, there is also a need for the continuous improvement of trading platforms, settlement systems, and regulatory frameworks, Mr. Arce noted.

He added that improving the business environment, achieving stability in the macroeconomic environment and political stability are also prerequisites.

“A more vibrant stock market can contribute to the overall development of the financial sector. It can encourage the development of new financial products, stimulate innovation, and improve the overall efficiency of capital allocation” according to Mr. Arce.

Die and mold industry expects to regain pre-pandemic business levels by end 2024

PDMA

By Justine Irish D. Tabile, Reporter

THE Die & Mold Association of the Philippines or PDMA, Inc. said the industry could return to pre-pandemic levels of business by the end 2024.

“It is still very hard to say but I hope that it will be by next year. Our projection is 2024 to 2025. Probably if not the end of 2024, maybe mid-year of 2025,” PDMA President George Ong told reporters last week.

Dies are used in stamping sheet metal, and molds in injection molding. They are critical components in mass production, and the industry’s performance is a leading indicator of future manufacturing activity as factors tool up to produce more items.

Asked to describe the industry’s recovery, Mr. Ong said the results vary depending on the business segment.

“Because we are on the software side, we were not that affected. I think our drop was around 15-20% unlike some actual manufacturers which were really affected because of the decline in demand,” he added.

“In the Philippines, I would say we have probably gone back to maybe 75% to 80% of pre-pandemic levels. It should be around that number already by this time,” he said.

Mr. Ong is also a managing director at Computrends Systems Technology, Inc. which he said has hit 90% of its pre-pandemic levels of business.

“A lot of firms are coming back from the pandemic. So, I think this year, we will see a lot of growth compared with last year. We had our lowest period in 2021 and then this year we are coming back,” he said.

During the pandemic, the die and mold industry underwent a big contraction, which Mr. Ong estimated at around 50%.

“We were already at the rock-bottom during the pandemic, so I think now everybody is in recovery. But some are faster, some are probably a little bit slower,” he said.

Between Aug. 23 and 26, PDMA hosted the Philippine Die and Mold Machinery and Equipment Exhibition.

In his keynote speech at the opening of the exhibition, Philippine Economic Zone Authority Director General Tereso O. Panga recognized the critical role of the industry to small and medium enterprises.

“It is said that the design and manufacture of dies and molds represent a significant link in the entire production chain because nearly all mass-produced discrete parts are formed using processes that employ dies and molds,” Mr. Panga said.

He also said that the industry is important to the growth of domestic and export manufacturing. 

“Its steady growth over the years is helping to position the Philippines as a reliable source of high-quality molds and dies, catering to both domestic and international markets,” he added.

World Bank: Online gig jobs hold potential to improve job inclusiveness for women

REUTERS

THE online gig economy can be a means for making the labor market more inclusive for women, the young, and low-skilled workers, especially in developing countries, the World Bank said.

“Online gig work can support inclusion on the supply side by providing work opportunities for youth, women, relatively low-skilled workers, or people in areas with insufficient local jobs while also widening the talent pool for micro, small and medium enterprises (MSMEs) on the demand side. (However), people without internet access could remain excluded,” it said in its latest Working Without Borders report.

Low- and middle-income countries account for 40% of traffic to gig platforms, according to the report. One-fifth of the visitors (18%) come from India, Ukraine, the Philippines, Indonesia, Pakistan, and Nigeria.

“Lower middle-income countries — rather than upper middle-income countries — are the second most important contributors to global online labor demand, collectively accounting for 15.4%, which includes demand generated in India, Pakistan, the Philippines, Nigeria, and Ukraine,” it added.

The World Bank said that the online gig economy constitutes a “growing and non-negligible part of the labor market.” It accounts for 4.4-12.5% of the global labor force.

“Women in most regions are participating in the online gig economy to a greater extent than in the general labor market, in the services sector, or in the informal sector, although a considerable wage gap still exists between men and women,” it said.

The report showed that the share of women in the online gig economy is “much more limited” in countries like India, the Philippines, South Africa, and Tunisia.

It also showed that the majority of online gig workers are under 30 years old that seek to “earn income, learn new skills, or have the flexibility to combine gig work with school or another job.”

The World Bank said that governments should capitalize on the opportunities from the online gig economy.

“Governments can use the promise of the gig economy to build digital skills, increase income-earning opportunities, and engage with platforms to expand social protection coverage of informal workers through carefully designed targeted programs and improved access to digital infrastructure and payment options, while also safeguarding against peril and protecting gig workers through modern forms of collective bargaining,” it said.

It recommended that governments partner with platforms to provide support and training for vulnerable and disadvantaged groups.

“Training programs for gig workers need to include socioemotional skills such as teamwork, empathy, conflict resolution, and relationship management in addition to digital technical skills,” it said.

The World Bank also said that governments should make sure to mitigate risks stemming from gig jobs, such as low wages, employer pressure, and harassment. For example, it recommended extending social protection coverage outside standard employment. — Luisa Maria Jacinta C. Jocson

ASEAN ministers agree to step up support for MSMEs

PHILIPPINE STAR/ MICHAEL VARCAS

FINANCE ministers from ASEAN economies committed to provide more support for micro, small and medium enterprises (MSMEs), following the conclusion of the sixth ASEAN Inclusive Business Summit in Bali.

“Recognizing MSMEs as the backbone of the ASEAN economy, playing a crucial role in implementing the sustainable development goals, by driving economic growth, fostering innovation, generating employment, and reducing poverty,” they said in a joint statement.

The joint statement was signed by finance ministers from the Philippines, Brunei Darussalam, Cambodia, Indonesia, Laos, Myanmar, Singapore, Thailand, and Vietnam.

It said that MSMEs “play a crucial role in implementing the sustainable development goals, by driving economic growth, fostering innovation, generating employment, and reducing poverty.”

“MSMEs and people at the base of the economic pyramid are most vulnerable to natural disasters, economic crises and public health emergencies and thus, must be empowered to be resilient, through the provision of regulatory and policy support, capacity building activities, access to markets and participation in regional and global value chains, access to finance, as well as coaching and advisory services,” it added.

To promote regional collaboration and cross-country adoption of strategies, the ASEAN ministers endorsed guidelines and action plans to promote inclusive business.

These include facilitating knowledge exchange through regular public-private dialogues, creating a regional fund to provide grants to inclusive business innovations, and providing policy advisory to support the establishment of accreditation systems that recognize businesses with inclusive business models, among others.

In a separate statement, Finance Secretary Benjamin E. Diokno, who represented the Philippines during the summit, said that ASEAN should ramp up collaboration to tackle the region’s post-pandemic recovery.

“ASEAN should continue to focus on strengthening the region’s surveillance activities, cooperation on macroeconomic policy, and enhancing regional financial safety nets to cushion our region from external shocks,” Mr. Diokno said.

“ASEAN countries should likewise promote freer flow of goods, services, and capital through the various free trade agreements with our external partners, thereby improving the supply chain,” he added.

Mr. Diokno also urged ASEAN member states to collaborate in exploring digital technology innovations.

“Sustainable finance initiatives at the regional level should also be pursued to solidify ASEAN’s transition towards a low-carbon future,” he added. — Luisa Maria Jacinta C. Jocson

Easy Franchise targets 150 franchisor partners by end of 2023

EASY FRANCHISE

FRANCHISING platform Easy Franchise said it hopes to increase the number of active franchisors in its system to as many as 150 by the end of the year.

“We are looking to end the year with 100 to 150 active franchisors. It is great because it is a community,” Easy Franchise Co-Founder RJ Ledesma said in an interview.

“What we often see from people is revenge spending, but there is also revenge business — people who reoriented their priorities to investing in business,” he added.

To date, the platform has about a hundred registered franchisors but only around 50 active franchisors.

“Right now, we have 30 to 50 franchisors who are very active in our system. And we constantly incubate new franchisors and that’s one of the best things that we have,” he said.

According to Mr. Ledesma, the pandemic, despite affecting foot traffic in bricks-and-mortar stores, also generated opportunities for franchising.

“The great thing is that during the pandemic there were a lot of new and innovative ideas and what we are looking at is how we can turn these ideas into sustainable franchise concepts,” he said.

“Easy Franchise is here to help those people who have great ideas for products and services who think they can turn it into a franchise,” he added.

The shift to work-from-home or hybrid setups, Mr. Ledesma said, has driven innovation in the franchising industry.

“Right now, there are so many franchises that you can do from the house. SariSuki, water franchising, and other services are franchises that can be done from the house. Work-from-home setups opened up many opportunities,” he said.

However, Mr. Ledesma noted that franchisors and franchisees are now faced with a need to technologically develop their operations.

“There are many ways that digital technology can help the franchising industry. The most obvious one is dashboards,” Mr. Ledesma said, noting that it allows both the franchisors and franchisees to monitor their businesses.

“Sometimes they also need help with point-of-sale systems, operational systems, and connecting them to food delivery partners,” he added.

Between Aug. 28 and Sept. 28, Easy Franchise will be conducting an online franchise sale which is hopes will make franchising more accessible to business owners and investors.

According to Mr. Ledesma, the sale could include offers for Mister Donut, Ate Rica’s Bacsilog, Razon’s by Glenn, Aquaskin, H2O Mineral Plus, and Cha Tuk Chak milk tea, among others. — Justine Irish D. Tabile

Megatrends impacting indirect tax

Indirect taxes, such as value-added tax (VAT) and customs duties, are the types of tax that may be shifted or passed on to the buyer, transferee or lessee of the goods, properties, or services. Indirect taxes are levied on goods and services (or consumption), whereas direct taxes are imposed on income and profits. Governments are now turning to indirect taxes to fill their revenue gaps as a result of the pandemic’s severe budgetary pressures.

In a challenging year for the global economy, trade, transformation, and sustainability are three megatrends influencing indirect tax policy. While these megatrends are pressuring indirect tax teams to be flexible, use technology to adapt, and do more with less, these trends also provide opportunities for indirect tax and customs functions to help their organizations succeed.

Indirect tax is receiving more attention as a result of global economic and geopolitical challenges. VAT/sales tax, excise and customs duty, and environmental taxes are becoming more demanding on a global scale. Governments are also leveraging tax and customs policies to advance political objectives and promote change in fields like sustainability.

This has resulted in significant legislative change, additional obligations, and an increased emphasis on technology to support tax and customs compliance processes. Effective indirect tax management is more important than ever to control cash flow, costs, and the risk of audits and legal action from tax and customs authorities.

TRADE DISRUPTION
Global trade and supply chain activities are inextricably linked to indirect taxes, which are significantly impacted by changes in the way businesses conduct their operations. Changes in these taxes could also significantly impact the supply chains of businesses.

The disruption of trade has been a recurring trend in the last year; contributing factors include the war in Ukraine, the ongoing consequences of the pandemic, trade conflicts, new trade agreements and alliances, and a quickly changing regulatory environment. However, the trade function has never had such a strong opportunity to improve the performance of the company or been in such a strong focus than now.

Indirect tax and customs functions can take action in the face of geopolitical uncertainty to remain agile while navigating disruptions, including driving out unnecessary duty costs, concentrating on cash flow, delivering cost-efficient tax processes, and using data analytics to compare indirect tax costs and opportunities from new supply chains.

In the Philippines, in addition to the tax authorities’ resumption of audit investigations, there is an additional challenge of simultaneously managing the customs authorities’ intensification of post-clearance audits — which are geared towards sustaining increased revenue collection even after clearance of imported goods at the border.

TRANSFORMATION
Rising complexity, regulation, as well as the competition for talent are contributing to transformation, but technology is the main motivator. Tax and customs authorities all over the world are quickly embracing technology and automating manual procedures. They are demanding real-time transaction data, and several jurisdictions are starting to employ e-invoicing and real-time reporting. In the Philippines, this is consistent with the tax authorities’ adoption of the electronic invoicing and receipting system, which requires certain taxpayers to electronically report their sales data. Upon establishment of a system capable of storing and processing the required data used by electronic point-of-sale systems, certain categories of Philippine taxpayer will be required to use such electronic systems.

In a mid-year report, Philippine customs authorities showed they are not far behind, highlighting programs focusing on digitizing customs processes, revolutionizing operations, and enhancing trade facilitation. Advanced information communication technology projects are lined up for implementation, such as automated export declaration and overstaying container tracking systems, among others.

 As a result, tax and customs authorities will have increased visibility on how businesses operate on a day-to-day basis, placing additional responsibility on corporations to enhance their data collecting and management. This frequently necessitates identifying data across the company and even throughout the supply chain as new taxes and reporting requirements are implemented.

 These demands are being made at a time when tax departments are under greater pressure to increase efficiency and provide genuine value. Along with effectively utilizing current technology, indirect tax teams must assess the need for extra resources and determine the right balance of in-house and outsourced work for their organizations to satisfy these demands.

In order to help drive transformation within their own organizations, indirect tax and customs functions must become future-proof by implementing a data strategy, harnessing the right technology to support their operating model, creating a tax governance structure that defines responsibilities, considering a centralized approach to VAT management, and using the implementation of tax policies to address long-standing data issues.

SUSTAINABILITY
Governments, businesses, and individuals around the world are prioritizing climate catastrophes and the need to safeguard the environment and human health. Governments are relying more on indirect taxes to support their environmental, social, and governance (ESG) initiatives, and indirect taxes are raising revenue to help fund green policies. New green taxes are also motivating people and companies to make the necessary changes in order to achieve sustainability goals.

The functions of tax and customs are put under pressure by ever-evolving tax and customs regulations. They need to be aware of the taxes that are applicable to their companies, how to comply with their commitments, and how to account for them in costing and supply chain choices. As an example, they can assist in lowering expenses, reducing compliance risks, and finding opportunities for grants and incentives to finance green investments.

Indirect tax and customs functions should consider understanding their organization’s plans to achieve its climate ambitions and get involved, as well as measure the impact of sustainability taxes and related policy measures on operations. Other key sustainability actions include identifying tax credits, grants, and incentives that will support the organization’s green agenda, assigning clear responsibilities, assessing exposure and liaising with relevant stakeholders within the value chain, and planning and implementing responses to the new measures impacting the business.

THRIVING IN TRYING TIMES
Leaders in indirect tax have never had a better chance to add more value to their organizations. By utilizing their abilities, creating connections within the organization, and utilizing innovative technology, they can bring about positive change and produce significant results.

It is imperative that they take into account the bigger picture and how the megatrends of global trade, transformation, and sustainability affect the indirect tax function. This will allow them to better frame the indirect tax issue inside their organizations, navigate hurdles, and seize opportunities that will benefit the whole organization and allow it to thrive instead of merely surviving in trying times.

This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co.

 

Alden C. Labaguis is a tax principal of SGV & Co.

Obiena jumps to silver finish in World Athletics Championships

Mr. Obiena (far left) had outperformed Mr. Duplantis second from left) twice — the first last occurred last year in Brussels, Belgium and the other and most recent one in Monaco a month ago — and it may just be a matter of time he would beat his fiercest of rivals. — REUTERS

ONE by one, Filipino pole-vault star EJ Obiena is breaking every record that he has set his sights on.

And on this one memorable Saturday night (Sunday morning in Manila) in Budapest, Hungary, Mr. Obiena added another historic performance by capturing a breakthrough World Athletics Championships silver medal following a magnificent six-meter clearance.

The recent feat was another record in Mr. Obiena’s book as he had surpassed the bronze he copped in the Worlds in Eugene, Oregon — an accomplishment no other Filipino before him had achieved.

It was also the second time he made the mythical 6.0 meters plateau or just a little more than a month after his first one in Bergen, Norway where he became the first Asian and 28th person in the planet to have ever done so.

Since that same mark was the Asian standard, add that too.

After breezing through the qualifying round along with 13 others following an effortless 5.55m a few days back, the Asian champion and World No. 3 from Tondo, Manila went supernova in bagging the silver.

It was a great effort that only the Herculean Armand Duplantis eclipsed after the Olympic champion and world record-holder did an indomitable 6.10m that was enough to claim the gold.

Mr. Obiena also trumped American Christopher Mr. Nilsen, who recently supplanted the former at World No. 2.

Mr. Nilsen settled for a bronze that he shared with Kurtis Marschall of Australia with an identical 5.95ms.

Mr. Obiena had outperformed Mr. Duplantis twice — the first last occurred last year in Brussels, Belgium and the other and most recent one in Monaco a month ago—and it may just be a matter of time he would beat his fiercest of rivals.

Mr. Obiena is now pursuing is snaring the country’s first Olympic medal since Miguel White brought home a 400m hurdles bronze in the 1936 Berlin Games in next year’s Paris Games where he had already qualified.  — Joey Villar

VP Sara Duterte urges ROTC cadets to be role models

VICE PRESIDENT SARA DUTERTE, Philippine ROTC Games Honorary Chairman Sen. Francis Tolentino and Zamboanga City Mayor John Dalipe in the opening ceremonies of the Philippine ROTC Games — Mindanao Regional Leg at the Joaquin F. Enriquez Memorial Sports Complex.

ZAMBOANGA CITY — Vice President and Education Secretary Sara Z. Duterte urged cadets to be a role model in discipline and unity as she guested the opening rites of the 2023 ROTC Games Mindanao Leg on Sunday at the Joaquin F. Enriquez Memorial Sports Complex here.

“Be a role model in discipline. That’s why we are supporting ROTC,” said the 45-year-old Duterte, also an Army Colonel reservist.

Sen. Francis Tolentino expressed gratitude over the presence of the Vice President from the region, saying “It’s truly significant since she is a genuine advocate of youth and sports development through military service.”

“I am hopeful that our shared goals will be achieved, and that ROTC will be a vital force in ensuring that our young people are shaped and formed to protect this nation, promote unity and peace, and to lead with utmost integrity and honor,” added Mr. Tolentino about the vice president from Davao City.

Ms. Duterte, the eldest daughter of former president “Digong” Duterte, gave P30,000 each of the 11 teams seeing action in the competition as an added boost to their needs.

Over 1,300 cadets from the Philippine Army, Philippine Air Force and Philippine Navy throughout the region are vying for gold in at least seven sports disciplines in four venues with the JFE memorial sports complex as the main venue.

Mayor John M. Dalipe along with Representatives Manuel Jose Dalipe and Khymer Adan T. Olaso and other top local officials led in welcoming the guests and officials.

In the first Leg in Iloilo City, cadets-athletes from the Philippine Army cornered 25 golds, 25 silvers and 34 bronzes, while the Airmen secured 23-23-22 and 9-9-9 from the Navymen.

The three branches of the Armed Forces of the Philippines have its own separate competition participated by their respective cadets so that there are three golds, silver and bronzes at stake in each of the event in the seven sports disciplines contested in the week-long sports gathering aimed at rediscovering the strength and enthusiasm of the ROTC.

A total of 50 medals are at stake in athletics, 67 in arnis, 12 in kickboxing, 19 in E-sports, 16 in boxing, 9 in basketball and six medals in volleyball.

FIFA suspends Spain’s soccer chief Luis Rubiales over kiss

MADRID — Soccer’s world governing body FIFA suspended Spanish federation chief Luis Rubiales from all football-related activities for three months on Saturday as it investigates allegations he gave a player an unwanted kiss on the lips after Spain’s women won the World Cup.

FIFA had opened disciplinary proceedings against Mr. Rubiales two days ago over the incident with player Jenni Hermoso last Sunday in Sydney that has caused an uproar among players and fans. Mr. Rubiales’ suspension from national and international activities takes immediate effect, it said on Saturday.

Mr. Rubiales said he would use the probe to show his innocence.

The Royal Spanish Football Federation (RFEF) issued a statement for him, saying Mr. Rubiales “will defend himself legally in the competent bodies, has full confidence in the FIFA bodies and reiterates that, in this way, he is being given the opportunity to begin his defense so that the truth prevails and his complete innocense is proven”.

Jorge Vilda, the coach of the Spanish Women’s soccer team, said on Saturday that he regretted the “inappropriate behavior” of Mr. Rubiales.

Victor Francos, head of Spain’s state-run National Sports Council, said the government supported FIFA’s decision.

Mr. Rubiales, 46, has been defiant over the kiss — which has been condemned as unwanted by Ms. Hermoso, her team mates and the Spanish government — arguing it was consensual.

Earlier on Saturday the RFEF had said it would stick by Mr. Rubiales as he sought to stay on, but a federation spokesperson said after the FIFA announcement: “We respect all the pronouncements of FIFA.”

Gary Lineker, a former England and Barcelona player, summed up much of the public reaction to the FIFA move, posting in Spanish on X, formerly known as Twitter: “Por fin! (At last).”

Mr. Rubiales played mainly in Spain’s second division in a career spanning 12 years. When he was elected to lead the RFEF in 2018, he promised to modernize its structure, increase turnover and make the federation more transparent.

Feminist groups staged demonstrations in Madrid, Santander and Logrono on Saturday calling for his resignation.

At a federation meeting on Friday where he had been widely expected to step down, Mr. Rubiales instead refused to quit, seeking to defend his behaviour and calling the kiss “spontaneous, mutual, euphoric and consensual.”

Ms. Hermoso said she did not consent to the kiss and felt “vulnerable and the victim of an aggression.”

In a statement hours before FIFA’s move on Saturday, the federation said it would show there had been lies told about what happened by Ms. Hermoso or people speaking for her and that it would “initiate the corresponding legal actions” to defend Mr. Rubiales’ honour, without specifying what that would entail.

The Spanish government cannot fire Rubiales but has strongly denounced his actions and said on Friday it was seeking to get him suspended using a legal procedure before a sports tribunal.

“Impunity for macho actions is over. Mr. Rubiales cannot continue in office,” acting Labor Minister Yolanda Diaz wrote on social media on Friday.

Gender issues have become a prominent topic in Spain in recent years. Tens of thousands of women have taken part in street marches protesting against sexual abuse and violence, and the Socialist-led coalition government has presided over legal reforms including around equal pay or abortion rights.

It was not clear how the FIFA action would affect a players’ revolt against Mr. Rubiales that expanded to include coaching staff on Saturday.

In a joint statement sent via their FUTPRO union on Friday evening, all 23 of Spain’s cup-winning squad including Ms. Hermoso, as well as dozens of other squad members, said they would not play internationals while Mr. Rubiales remained head of the federation. — Reuters

Filipino fans showering LA Lakers star Austin Reaves with adulation

THE MIGHTY United States team descended upon the FIBA World Cup in the Philippines minus the star power equal to Kobe Bryant and LeBron James when the two legendary Americans visited the country multiple times in the past

But it didn’t stop basketball-crazed Filipino fans from showering rising Los Angeles Lakers star Austin Reaves with adulation.

From drawing the loudest cheers during the pregame player introduction versus New Zealand before a sellout MOA Arena crowd to being chased at the Shangri-La Makati where a big group of faithful camped just to see him, Mr. Reaves was undoubtedly the most popular among the Steve Kerr-mentored all-NBA squad that was tipped to rule the biggest event the country hosted in recent years.

The 6-5 spitfire from a tiny town in Newark, Arkansas wasn’t shocked though at the love he received and relished it.

“I kind of seen it coming. I was talking to Phil Handy (Lakers assistant coach) and he was telling me they love the Lakers out here,” said Mr. Reaves during the well-attended post-game presser also graced by Mr. Kerr.

For Mr. Reaves, playing for the country and flag was a dream come true.

“It was just special for me. I was one of those kids watching the World Cup, the Olympics, so I cherish these moments,” said Mr. Reaves. “I’m from a super small town and not a lot of people expected me to be here representing our country.”

“So for them to accept me the way they accept me means a lot to me,” he added.

Mr. Reaves reciprocated the adoration with a performance to remember, helping the US smash a highly physical New Zealand, 99-72, late Saturday night that set in motion its bid to reclaim the crown it lost following a disappointing quarterfinal exit in the last edition four years ago in China. 

He had 12 points, six rebounds, three steals and the usual impactful intangibles that endeared him to the Filipinos. — Joey Villar

Lionel Messi scores in MLS debut as Inter beat Red Bulls

LIONEL Messi entered as a substitute in the 60th minute and scored his first MLS goal in spectacular fashion in the 89th to seal Inter Miami’s 2-0 win over the host New York Red Bulls in front of a raucous crowd in Harrison, New Jersey, on Saturday night.

Moments after his free kick was blocked by New York’s five-man wall, Mr. Messi moved the ball by five New York defenders to Benjamin Cremaschi.

It was Mr. Messi’s 11th goal in all competitions since joining Miami (6-14-3, 21 points) July 15 and sealed the club’s first win since May 13. Before Mr. Messi sealed the win. — Reuters

Japan says seawater radioactivity below limits near Fukushima

An aerial view shows the storage tanks for treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan, Feb. 13, 2021, in this photo taken by Kyodo. Kyodo/via REUTERS

TOKYO — Japan’s environment ministry on Sunday said tests of seawater near the Fukushima nuclear power plant did not detect any radioactivity, days after the discharge of treated water that had been used to cool nuclear reactors.

The east-Asian nation on Thursday started releasing water from the wrecked Fukushima plant into the Pacific Ocean, sparking protests within Japan and neighboring countries and prompting China to ban aquatic product imports from Japan.

The environment ministry’s tests of samples taken from 11 points near the plant concluded concentrations of radioactive isotope tritium below the lower limit of detection — 7 to 8 becquerels of tritium per liter. It said the seawater “would have no adverse impact on human health and the environment.”

The ministry will publish test results weekly at least for the next three months and will then review the timing of further disclosure, an official told Reuters on Sunday.

Japan’s fisheries agency on Saturday said tests of fish in waters around the plant did not detect tritium.

Plant operator Tokyo Electric Power Co. (Tepco) 9501.T on Friday said seawater near the plant contained less than 10 becquerels of tritium per liter, below its self-imposed limit of 700 becquerels and far below the World Health Organization’s limit of 10,000 becquerels for drinking water.

Tepco on Sunday said it had not detected any significant change. — Reuters

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