Home Blog Page 5093

General Wholesale Price Index in the Philippines

GROWTH in wholesale prices for general goods in January was 4.6%, the highest since late 2011, according to preliminary data released by the Philippine Statistics Authority (PSA). Read the full story.

General Wholesale Price Index in the Philippines

How PSEi member stocks performed — April 22, 2022

Here’s a quick glance at how PSEi stocks fared on Friday, April 22, 2022.


Philippines lags in green economy list

The Philippines ranked 105th out of 160 nations globally in the 2022 edition of US
consultancy firm Dual Citizen LLC’s Global Green Economy Index (GGEI), which
assessed a nation’s performance in climate change, sector decarbonization, green
markets, and the environment. In a percentile score ranging from 0 (worst) to 1
(best), the country scored an aggregate GGEI result of 0.465. Among the nine
Southeast Asian countries included in the index, the Philippines placed sixth,
ahead only of Myanmar, Malaysia, and Indonesia.

Philippines lags in green economy list

Jayson Tatum, Celtics take 3-0 series lead over Brooklyn Nets

JAYSON Tatum scored 39 points as the Boston Celtics led most of the way and beat the Brooklyn Nets 109-103 on Saturday night in New York to open a commanding three-games-to-none lead in their Eastern Conference first-round series.

Tatum made 13 of 29 shots for his second 30-plus-point game of the series, putting the second-seeded Celtics on the verge of sweeping the seventh-seeded Nets in Game 4 on Monday. Tatum, who scored 14 points on 5-of-8 shooting in the fourth quarter, also finished with six assists and six of Boston’s 13 steals.

Jaylen Brown added 23 points on 9-of-16 shooting as the Celtics led for the final 39:58. Marcus Smart added 14 points as the Celtics shot 50% for the game and heard loud “Let’s Go Celtics” chants in the final minutes.

Bruce Brown led the Nets with 26 points, but superstars Kevin Durant and Kyrie Irving were held to a combined 32 points as the Nets shot 50.6% but also allowed 37 points off 21 turnovers.

Durant and Irving each scored 16 points. Irving made only 6 of 17 shots from the field and missed all seven of his 3-point tries.

Brooklyn remained within striking distance early in the fourth before Boston began pulling away. The Nets got the lead down to 88-84 on a 3-pointer by Blake Griffin with 7:42 remaining. — Reuters

Man City keeps up pace in title race; Arsenal goes fourth

LONDON — Manchester City opened up a four-point lead in the Premier League title race by thrashing Watford 5-1 and Arsenal seized the initiative in the battle for fourth spot on Saturday.

Brazilian Gabriel Jesus scored four goals as City applied pressure on chasing Liverpool ahead of their Merseyside derby on Sunday against struggling Everton.

Watford, meanwhile, suffered a fourth successive league defeat as their hopes of staying up receded.

Arsenal followed up their midweek win at Chelsea with a 3-1 home defeat of Manchester United to move into fourth place, ahead of Tottenham Hotspur who could only draw 0-0 away to Brentford in the day’s late kickoff.

Nuno Tavares struck early for Arsenal with Bukayo Saka doubling their lead from the penalty spot.

A sluggish United finally woke up with Cristiano Ronaldo sweeping in Nemanja Matic’s cross and they squandered a chance to level when Bruno Fernandes hit the post from the penalty spot before Granit Xhaka made sure of the points for the hosts with a 70th-minute thunderbolt.

“It’s a big performance in a game that had everything. We created chances, we had to suffer, there were moments when we lacked energy and they were on top, we were efficient in the boxes, we had luck,” Arsenal boss Mikel Arteta said.

“This is going to be a rollercoaster — today it went in our favor.”

The win took Arsenal into fourth spot, two points above Tottenham Hotspur who was lackluster in a stalemate at Brentford for whom Ivan Toney was twice denied by the woodwork.

Sixth-placed Manchester United, who announced earlier this week that Erik ten Hag would become their new manager, suffered a fourth successive away defeat in the league and their chances of qualifying for the Champions League are dwindling.

“For me, even before the game it wasn’t very likely, but after today’s result it’s gone, yes,” interim boss Ralf Rangnick, who faces a tough task in his final four games, said.

The title race is predicted to go right down to the wire and Man City made sure they retained the slight edge as they swept Watford aside at The Etihad Stadium.

Jesus struck twice in the opening 24 minutes to put City in control but Watford briefly threatened to make a game of it as French defender Hassane Kamara halved the deficit.

A stunning strike from Spain international Rodri restored City’s two-goal advantage in the 34th minute before Jesus completed his first Premier League hat trick early in the second half after converting from the penalty spot.

The 25-year-old tapped home his fourth in the 53rd minute from Kevin De Bruyne’s pass to complete the rout and City took their foot off the gas ahead of Tuesday’s Champions League semifinal first-leg against Real Madrid.

City has 80 points from 33 matches with Liverpool on 76 having played a game less. Watford are in 19th place, seven points from the safety zone.

“We have one month of the season to go, we need players like Gabriel,” City manager Pep Guardiola said.

Time is running out for bottom club Norwich City who look destined for a quick return to the second-tier Championship after a 3-0 home defeat by in-form Newcastle United.

Newcastle’s Brazilian contingent fired Eddie Howe’s side up to ninth place with Joelinton scoring a brace and Bruno Guimaraes also on target at Carrow Road.

While Newcastle is on the up and up, Norwich is now eight points from safety with five matches left to play. — Reuters

PSG clinches record title, but faces rocky off-season after European debacle

PARIS — Paris Saint-Germain (PSG) has clinched a record-equaling 10th French title, but the achievement will do little to soothe the pain of yet another embarrassing exit from the Champions League as the club face a rocky off-season.

PSG secured the Ligue 1 title with four games to spare but has already been knocked out of the French Cup and were eliminated by Real Madrid in the last 16 of Europe’s major competition after squandering a 2-0 aggregate lead in just over 15 minutes at the Bernabeu.

The failure leaves Argentine coach Mauricio Pochettino, who has been unable to give the team a proper playing style since he took charge 16 months ago, on the brink of an early exit, too.

After wasting a four-goal lead against Barcelona in 2017 and a two-goal away advantage against Manchester United in 2019, PSG reached the final in 2020 and the last four in 2021, but this season will remain as one of their most disappointing in the Qatari era.

Whether the club owners, Qatar Sport Investment, who have spent well over one billion euros on transfers in 11 years, will allow Pochettino to stay until his contract expires in June 2023 is anyone’s guess.

On the domestic front, their financial power has helped PSG to once again crush the opposition and they have so far scored goals, 22 of them through Kylian Mbappé.

The France forward was one of the rare players to live up to his reputation after saying he wanted to leave last summer.

Club president Nasser Al Khelaifi and sporting director Leonardo did not let him go — their best decision amid a number of questionable moves.

Lionel Messi, who joined amid much fanfare as a free agent from Barcelona, has not delivered, scoring only four goals in Ligue 1 in 22 appearances.

The Argentine delivered 13 assists, though, but the attacking trio he formed with Mbappé and Neymar clicked only deep into the season, and after the Champions League exit.

Keeper Gianluigi Donnarumma joined from AC Milan after guiding Italy to the European title, but he has had to share his place between the posts with the experienced Keylor Navas — a situation that seemed to prevent both of them performing at their best level.

“I have a very good relationship with Gigi but I want to play every game, it’s a complicated situation,” Navas said last weekend.

“I’m happy in Paris, but somehow, it has to change.”

Center back Sergio Ramos was also announced as a major recruit but was injured for most of the season and featured in only nine league matches.

The biggest challenge for PSG’s management will, however, be to convince Mbappé to extend his stay at the club.

“You must adapt to every circumstance and personal situation involving players with regard to their club and contracts. On a selfish level, I’d like to keep him. And take him on a holiday with me, take him home,” Pochettino told reporters.

“We would like him to renew and stay. That’s very obvious. It would be important for him to stay, but these decisions come down to the player, club and different parties.”

Leonardo said: “There are always discussions with Kylian. He is in a period of reflection. He could be staying, it’s a possibility, and he could leave as after all his contract expires at the end of the season.”

Lagging far behind PSG, second-placed Olympique de Marseille are the favourites to clinch the other direct qualifying spot for next season’s Champions League while the battle rages on between Stade Rennais, Racing Strasbourg, Nice and Monaco to secure third spot, which would send them into the third qualifying round. — Reuters

NFL to stage first-ever Christmas Day tripleheader

The National Football League (NFL) will hold a tripleheader on Christmas Day for the first time in 2022.

NFL vice-president of broadcast planning Mike North told Buffalo’s WGR 550 this week that with Christmas falling on a Sunday this year, the league will expand its footprint on the holiday despite Christmas traditionally being the NBA’s domain.

“We’ll play one game on CBS in the afternoon, one game on Fox in the afternoon and our regular Sunday night game on NBC,” North said. “Christmas, when it falls on an NFL game day, we’ve had a lot of success there, all due respect to our friends at the NBA.”

The NFL will have 11 games on Saturday, Christmas Eve, along with its usual Thursday and Monday night games surrounding the Christmas tripleheader.

The Christmas matchups are expected to be leaked during the week of May 9 before the full schedule is released May 12.

The league scheduled two games on Christmas in 2021, when it fell on a Saturday, and played one Friday evening Christmas game in 2020.

The National Basketball Association (NBA) plays five games back to back every Christmas. — Reuters

Świątek credits balancing act for 21st straight win

WORLD number one Iga Świątek said she found the right balance between taking risks and playing aggressively in her 6-4, 6-4 win over Britain’s Emma Raducanu in Stuttgart on Friday as the Polish star celebrated her 21st victory in a row.

Świątek reached the semifinals of the WTA 500 claycourt tournament after overcoming a strong effort from US Open champion Raducanu in the quarterfinals.

“I think (it was) just about balancing the risk I was taking with some sort of games,” Swiatek after the match. “I still needed to adjust a few things and get used to the surface during the match.

“I played more solid and less risky sometimes, but on the other hand, also aggressively. So, when I balanced that act, it was pretty good.”

Świątek, 20, has not dropped a set in her last 13 matches and also leads the women’s tour with 28 wins this season.

Asked how she has managed to achieve those feats, Świątek said, “Honestly, just step by step. (I’m) not thinking about what’s happened and what’s going to happen. I’m just focusing on the next match.

“I am doing everything well to prepare and recover after each round. It’s huge work, honestly, (from) me and my team. It looks like I am going with the flow but behind it, it is hard work.”

Świątek, who won the French Open in 2020, will meet Liudmila Samsonova in the final four. — Reuters

Force of circumstance

Just as in the regular season, injuries have become part and parcel of the 2022 National Basketball Association Playoffs. For those casting moist eyes on the Larry O’Brien Trophy, acceptance is a boon; all the pregame conditioning can be trumped by force of circumstance, and, once it is, there is no choice but to deal with it by adopting a next-man-up mentality. It’s certainly what the Raptors did in avoiding a sweep yesterday, and it’s what the Sixers plan to do in gunning for the series victory tomorrow.

Not that the favorites didn’t try their best in Game Four. Notwithstanding the right thumb injury that Most Valuable Player candidate Joel Embiid had to play through, the match was close for the most part. Only a third into the fourth quarter did the Raptors pull away on the strength of grit and motivation fueled by the 19,800-strong crowd at the Scotiabank Arena. Significantly, the hosts managed to win even with second-leading scorer Fred VanVleet needing to be sidelined close to the end of the first half due to a strained left hip.

To be sure, the odds of moving on to the next round of the postseason remain in the Sixers’ favor. Owing to their Game Three triumph in overtime off Embiid’s last-second heroics, they’re still up three to one, and will need only one more win over the next three outings to secure a spot in the Eastern Conference semifinals. And if head coach Doc Rivers has any say on it, he figures on closing the deal tomorrow. “We’ll be ready, I can guarantee you that,” he argued. The flipside is that he just so happens to be the only bench tactician in league history to blow three three-one series advantages.

Make no mistake. The Raptors will be ready. Never mind that they’re not fashionable picks. Forget that they lack marquee names. For all their handicaps in talent and skill, they’re never outworked. And if there’s anything they can say at the end of every outing, it’s that they left everything on the floor. They’ll certainly do so once more, VanVleet or no, and whether or not newly minted Rookie of the Year awardee Scottie Barnes will suit up in full strength. In other words, the Sixers are in for a dogfight, and will have to earn the right to advance.

 

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.

Analysts say Leni’s campaign continues to gain momentum

VICE-President Maria Leonor “Leni” G. Robredo attracted more than 400,000 supporters at a campaign rally on April 23. — PHILIPPINE STAR/ MIGUEL DE GUZMAN

By Kyle Aristophere T. Atienza, Reporter

VICE-PRESIDENT Maria Leonor “Leni” G. Robredo’s presidential campaign is expected to gain more momentum two weeks before the elections, political analysts said, as her rally near the Philippine capital drew almost half-a-million supporters at the weekend.

“All available evidence suggests that the Robredo-Pangilinan group has strong momentum heading into the elections,” Ador R. Torneo, a professor and director of De La Salle University’s Institute of Governance, said in an e-mail.

He cited the increasing turnout in the campaign rallies of Ms. Robredo and her running mate, Senator Francis “Kiko” N. Pangilinan.

Ms. Robredo attracted more than 400,000 people — the biggest crowd in her presidential campaign so far — at a rally in Pasay City on Saturday, according to estimates by her office.

In Manila, the only son and namesake of the late Philippine dictator Ferdinand E. Marcos attracted about 14,000 people, the Philippine Star reported, citing police estimates.

Mr. Marcos campaigned with his senatorial candidates who have been endorsed by the PDP-Laban faction headed by President Rodrigo R. Duterte. The President’s party was set to hold rallies with the tandem of Mr. Marcos and his running mate Davao City Mayor and presidential daughter Sara Duterte-Carpio in the coming days.

Mr. Torneo said Ms. Robredo’s campaign has been boosted by endorsements from local leaders and her supporters’ house-to-house activities.

Former Senator Ferdinand “Bongbong” R. Marcos, Jr. kept his lead in Pulse Asia Research, Inc.’s presidential opinion poll last month, with 56% of Filipinos saying they would vote for him, even if his rating fell by 4 points.

Still in second place was Ms. Robredo, whose rating rose by 9 points to 24%. She was followed by Manila Manila Mayor Francisco “Isko” M. Domagoso (8%), Senator and boxing champion Emmanuel “Manny” D. Pacquiao (6%) and Senator Panfilo “Ping” M. Lacson (2%).

“They reinforce each other and provide clear evidence of a strong momentum,” Mr. Torneo said of Ms. Robredo’s rising ratings and crowd number. “However, it is difficult to ascertain this whether buildup of momentum this late in the campaign period would be enough to pose a serious challenge to the Marcos-Duterte tandem in the May 9 elections.”

Mr. Torneo said the heavy involvement of volunteers in the opposition tandem’s campaign activities is something new in Philippine politics.

“The lack of party machinery of the opposition and their lack of presence on the ground is being supplemented by an organic volunteer movement that is largely decentralized and mostly autonomous,” he said.

The grassroots-backed presidential run of Ms. Robredo is similar to that of the late President Corazon C. Aquino, who unexpectedly beat the late dictator — based on the count by the watchdog National Citizens’ Movement for Free Elections — in the 1986 snap elections, said Maria Ela L. Atienza, a political science professor at the University of the Philippines.

“It was more difficult then because of the authoritarian regime, the lack of resources, and the fact that mainstream media at that time was controlled by the regime,” she said in a Viber message. “Now, there are more venues for campaigning.”

Ms. Atienza said the resources of the Marcos camp are “formidable” and should not be underestimated.

She said the advantage of Ms. Robredo’s people-led campaign is the “volunteerism and dedication of supporters who are invested in the campaign compared with paid supporters whose support is transactional or conditional.”

The challenge for a campaign pushed by a movement of volunteers is messaging discipline, Michael Henry Ll. Yusingco, a research fellow at the Ateneo De Manila University.

“Many of her volunteers continue to snipe against the other candidates and continue to attack their supporters,” he said in a Facebook Messenger chat.

“They are more inclined to burn bridges which can diminish the positivity VP Leni is trying to project,” he said. “This lack of messaging discipline can minimize the benefits of an energized and engaged army of volunteer supporters.”

People tend to hold on to ther beliefs if they are attacked, said Jean Encinas-Franco, who teaches political science at UP. “Building bridges is key to understanding each other and where they are coming from,” she said in a Messenger chat.

Arjan P. Aguirre, who teaches political science in Ateneo, said the opposition tandem’s supporters must painstakingly listen to people who have opposing views.

“This necessitates the effort to listen to the potential supporter. To know his or her reasons why he or she is supporting a different candidate,” he said in a Messenger chat. “This listening should evolve into a conversation — an engagement where two or more people exchange their ideas on an equal footing.”

He said conversation efforts must not result in “the antagonization and total negation of the other.”

Meanwhile, Aksyon Demokratiko, the party of Mr. Domagoso, at the weekend said his candidacy is backed by a large group of people who do not express their opinions publicly.

The so-called silent majority “will ultimately be the game changer in his quest for the presidency,” it said in a statement.

The mayor’s spokesman last week said he would use the rest of his campaign period to present himself as an alternative to the top two presidential poll frontrunners.

Mr. Domagoso has been aiming for the endorsement of Mr. Duterte, who joined a campaign rally for his party’s senatorial candidates last week.

The mayor’s claim to be an alternative candidate “remains a claim,” said Jan Robert Go, an assistant political science professor from the University of the Philippines.

He said the Manila mayor had not tried to engage the camp of Mr. Marcos on issues that hound his candidacy, except for his family’s unpaid estate tax that has ballooned to more than P200 billion due to interests and other penalties.

“On a more substantive plane, there is not much discussion — not exactly the alternative that we would expect.”

Comelec threat of arrest  is illegal, lawmakers say

PHILIPPINE STAR/ MIGUEL DE GUZMAN
ELECTION officials sent off a truck containing vote counting machines and other election materials on April 2. — PHILIPPINE STAR/ MIGUEL DE GUZMAN

LAWMAKERS at the weekend slammed an election official’s threat to have people who criticize the Commission on Elections for bias arrested by the military.

Detained Senator Leila M. de Lima, a former human rights commissioner, said Election Commissioner Rey E. Bulay’s threat “is uncalled for and illegal.”

“Under the constitution, the only time the Armed Forces of the Philippines (AFP) is allowed to exercise the law enforcement powers of the Philippine National Police, like arresting people, is when the commander-in-chief calls out the AFP to suppress lawless violence,” she said in a statement.

“Neither Bulay nor the Comelec is the commander-in-chief,” Ms. De Lima, one of President Rodrigo R. Duterte’s most outspoken critics, said. “Not even during elections. The Comelec’s deputization power during elections certainly does not include the power to use the AFP in stifling criticisms and suppressing free speech.”

“We will not hesitate to call upon the AFP, which is now under Comelec control, to round you up and have you jailed,” Mr. Bulay told a news briefing in mixed English and Filipino on Friday.

“There is no basis for such a threat,” Antonio M. La Viña, a constitutional law professor at the Ateneo de Manila University, said in a mobile phone message.

“You can only be arrested if you commit a crime. It is definitely not a crime to criticize the Comelec. Any statements about the elections are also protected speech.”

Ms. de Lima said these people merely exercised their right to freedom of speech and to petition the government for redress.

House Assistant Minority Leader and Party-list Rep. France L. Castro in a separate statement called Comelec hypersensitive.

“Citizens either by themselves or through their organizations are completely within their rights to appeal or call for the holding of orderly, peaceful and credible elections,” he said. “That’s just the Filipinos’ way of telling the poll body ‘Hey, Comelec, do your job.’”

“After all, the holding of orderly, peaceful and credible elections is the Comelec’s job under the Constitution,” he added, noting that calls for the election body not to favor certain candidates neither sow distrust nor condition the minds of the public.

Mr. Castro asked the Comelec en banc to withdraw its statement.

Mr. Bulay’s warning “is a prior restraint on free speech and expression, which includes political speech, and constricts the already shrinking democratic space in the country,” he added.

Election Commissioner Socorro B. Inting earlier said the call by the group AIM Alumni for Leni for honest, orderly and peaceful elections was unnecessary.

The group addressed its call to Comelec, the electoral boards that will manage the elections in voting precincts, Department of Education, police, military and all deputized agencies.

“We, the representatives of the Asian Institute of Management (AIM) Alumni for Leni, ask all charged with administering the elections to be nonpartisan,” it said. “You are tasked to make voting safe, to ensure that voting is secret, and to protect the will of the voters as expressed in the ballot.”

“Our collective interest is for our candidates to be elected through a credible process. When elections are credible, the results will be accepted, and the transition to the new government will be peaceful and orderly,” they added. — Alyssa Nicole O. Tan

Shell’s import facility in Davao del Sur to help stabilize Mindanao fuel supply, prices 

BW FILE PHOTO

PILIPINAS Shell Petroleum Corp.s (PSPC) upcoming import facility in Davao del Sur province, which broke ground on April 22 and expected to be operational by the third quarter of 2024, is seen to help stabilize fuel supply and prices in Mindanao, the countrys southern mainland.  

The project is a 50-50 joint venture between Northern Star Energy Corp. and DMCI Construction and Equipment Resources, Inc. (DMC-CERI), and will be leased exclusively to Shell.   

The Sta. Cruz Storage Corp. (SCSC) will operate the facility. 

Once operational, this facility will allow energy companies such as Shell Philippines to efficiently manage inventory and external volatility,DMC-CERI Chairman Isidro A. Consunji said during the groundbreaking ceremony.  

In doing so, they can mitigate or avoid sudden and dramatic price increases for our countrymen, particularly, those in Mindanao, he said.   

Located in Barangay Darong in Sta. Cruz town, the Darong Import Facility will have a capacity of 67 million liters.  

Mr. Consunji also said the venture will further boost the local economy of Sta. Cruz and its development as an industrial hub.  

The town is already host to several major firms such as San Miguel Brewery, Inc.; Aboitiz Powers Hedcor Sibulan, Inc.; and processed coconut products exporter Franklin Baker Company.   

DMC-CERI President Tulsidas C. Reyes said that once the Darong Import Facility is completed, it will be one of the biggest and most modern of its kind in Mindanao.  

It is also seen to provide fuel supply to ensure mobility during storms, floods, and other natural calamities. 

Kit M. Bermudez, Shell vice president for supply and distribution, said the facility will help protect the Philippines south from external challenges in the fuel supply industry.  

We can ensure that even if there are a lot of challenges with the Ukraine war and in the global economy, once we have a depot here definitely the availability of fuels will be more secure,he said.    

Meanwhile, Mr. Bermudez also announced that Shell is planning to establish more than 80 new Shell mobility sites in the southern part of Mindanao by 2025. 

We believe in the prospect of Mindanao. We are growing the business nationwide and Mindanao is one of the priorities in terms of expanding,he said. Maya M. Padillo