Tax court sides with financial holding firm in case vs BIR

March 31, 2022 | 12:02 am

THE Court of Tax Appeals (CTA) has granted the appeal of New York Bay Philippines, Inc. or NYB Philippines to reconsider the refund of its unused input value-added tax (VAT) traced to zero-rated sales for the four quarters of 2015.

In a resolution on March 24, the CTA en banc denied the claim of the commissioner of internal revenue (CIR) to deny the appeal and remanded the petition for review to the CTA First Division to decide on the proper refundable amount.

The petitioner is a financial holding company primarily engaged in credit intermediation and related activities.

Under the law, respondent CIR has the authority to decide, approve and grant claims for a tax refund.

The company asked the court to reverse the decision that partially granted P9.6 million of its unutilized input VAT for the four quarters of 2015. It asked the CTA en banc to refund the remaining P37.3 million of the original P46.8 million of excess VAT.

The previous ruling of the CTA division said that the company failed to prove that the services rendered to TF International, one of its foreign clients, were not in the same category as “processing, manufacturing or repacking of goods,” and services rendered were not “performed” in the Philippines.

The court ruled that the addenda to the service agreement between the foreign client and its parent company cover NYB Philippines’ sales of services to both entities. The addenda clarified the complete name of TF International and recognized it as a non-resident foreign corporation not engaged in business in the Philippines.

“Given that the Service Agreement to the TF Remittance extends to TF International pursuant to the Addenda, the relevant provisions in the Service Agreement, insofar as it proves that services rendered are not in the same category as ‘processing, manufacturing or repacking of goods’ and that services were not performed in the Philippines, also apply to TF International,” The CTA en banc’s ruling said. It added that sales to the foreign corporation qualified for a VAT zero-rating.

The Bureau of Internal Revenue (BIR) commissioner argued that the court should not have given due course to the company’s appeal, claiming that the petitioner did not submit complete supporting documents in the claim for refund.

“In any case, the non-submission of complete supporting documents at the administrative level is not fatal to NYB Philippines’ judicial claim for refund as the Court of Tax Appeals is not limited by the evidence presented at the administrative level,” the court said. — John Victor D. Ordoñez

CNN+ subscription streaming news service launches

March 31, 2022 | 12:02 am

CNN launched its streaming news service CNN+ on Tuesday with a mix of familiar faces such as Anderson Cooper and Chris Wallace, original series and new features like the Interview Club, where viewers pose their own questions to experts.

The cable news pioneer is seeking to capitalize on the confluence of two trends, the rising popularity of streaming video and growth of digital subscriptions at major news organizations. With its acquisition of The Athletic, The New York Times in February reported it had surpassed 10 million subscribers, the majority of whom are digital-only subscribers.

“CNN+ is the most important initiative that CNN launched since Ted Turner founded the network 42 years ago,” Andrew Morse, chief digital officer for CNN Worldwide who oversees the new streaming service, said in an interview with Reuters.

The launch comes just days ahead of the anticipated closing of the sale of CNN parent WarnerMedia to Discovery, Inc. Chris Licht, the executive producer of The Late Show with Stephen Colbert on CBS, will become chairman and chief executive of CNN Global in May.

The subscription service made its debut in the United States on Amazon Fire TV and on Android and Apple devices, and it costs $5.99 a month. Those who subscribe within the first four weeks receive a 50% discount permanently until they stop subscribing.

The cable news pioneer won’t re-purpose its newscasts online, as services like NBCUniversal’s Peacock does, which provides viewers with on-demand access to the NBC Nightly News with Lester Holt.

The network also provides NBC News NOW, a free streaming network that provides live breaking news coverage. Its cable news unit, MSNBC, plans to expand streaming this spring with a dedicated hub on Peacock.

CNN+ will offer a combination of live, on-demand and interactive programming, with an emphasis on original content.

Former NPR All Things Considered host Audie Cornish will be doing weekly in-depth interviews, and CNN chief media correspondent Brian Stelter will offer daily installments of his Reliable Sources e-mail newsletter and Sunday show.

CNN+ will feature original series including The Murdochs: Empire of Influence, based on Jonathan Mahler and Jim Rutenberg’s New York Times Magazine article about the legacy of media mogul Rupert Murdoch.

“There is a major opportunity for news organizations to capture an audience that they’re not connecting with,” said Christy Tanner, the former general manager of CBS News Digital. — Reuters

RCBC vows to stop financing coal plants by 2031

March 31, 2022 | 12:01 am

RIZAL COMMERCIAL Banking Corp. (RCBC) pledged to entirely remove their exposure to coal financing by 2031 and to boost lending to renewable projects as it moves towards sustainability.

“As part of RCBC’s commitment to the environment and to the world we all live in, we are phasing out lending to coal-fired power plants by 2031,” RCBC President and Chief Executive Officer Eugene S. Acevedo said in a statement.

RCBC’s coal exposure is amortizing every year and will decline until it zeroes out in 2031.

“A call to be part of the net zero revolution has started. Businesses need to redouble efforts in order to reach net zero. Much more needs to be learned on how sustainable finance can contribute to this,” Mr. Acevedo said.

The bank in December 2020 declared it will stop financing new coal-fired power projects in the country. This was following the Department of Energy’s imposition of a nationwide moratorium on coal.

RCBC is in the process of closing funding deals for renewable energy like solar, hydro, and geothermal projects with a combined capacity of 1.6 gigawatts (GW). These deals are expected to be completed in the next one to two years, said RCBC Corporate Banking Group head Elizabeth E. Coronel.

The bank has funded 3.06 GW of renewable energy projects since 2012.

In February, the bank raised P14.756 billion through its offering of sustainability bonds. Its proceeds will be used for purposes that are in line with RCBC’s sustainable finance framework.

In the same month, the bank launched green time deposits where minimum investments start at P5,000. The funds raised will finance sustainability projects related to renewable energy, pollution prevention and control, energy efficiency, sustainable water management, and clean transportation.

RCBC’s net income climbed by 41.1% to P7.083 billion in 2021, which was the highest in five years. This was backed by improved performance of its core businesses and the lower loan loss provisions.

The Yuchengco-led lender’s shares closed unchanged at P20.50 per piece on Wednesday. — Luz Wendy T. Noble

Hackers steal about $600 million in one of the biggest crypto heists

March 31, 2022 | 12:01 am

HACKERS stole about $600 million from a blockchain network connected to the popular Axie Infinity online game in one of the biggest crypto attacks to date.

Computers known as nodes operated by Axie Infinity maker Sky Mavis and the Axie DAO that support a so-called bridge — software that lets people convert tokens into ones that can be used on another network — were attacked, with the hacker draining what’s known as the Ronin Bridge of 173,600 Ether and 25.5 million USDC tokens in two transactions. The breach happened on March 23, but was only discovered on Tuesday, according to Ronin, the blockchain that supports Axie Infinity.

The attack is the latest to show that bridges are often rife with problems. The computer code of many isn’t audited, allowing for hackers to exploit vulnerabilities. It’s often unclear who runs them and exactly how. Identities of validators, who are supposed to order transactions on bridges, are often shrouded in mystery. And yet there are thousands of bridges out there, and they move hundreds of million of dollars worth of crypto.

“The fact that nobody notices for six days screams aloud that some structure should be in place to watch illicit transfers,” said Wilfred Daye, head of Securitize Capital, the asset-management arm of Securitize, Inc.

The price of Ron, a token used on the Ronin blockchain, dropped about 22% after the hack was disclosed. AXS, a token used in Axie Infinity, fell around 8.5%, according to CoinMarketCap.

In its blog, Ronin said it’s in touch with major cryptocurrency exchanges and with blockchain tracer Chainalysis to monitor the move of the stolen funds. Ronin also said it’s working with law enforcement. Ronin didn’t immediately return requests for comment.

The stolen funds went to two cryptocurrency exchanges, according to blockchain forensics firm Elliptic. Several exchanges acknowledged the hack without confirming that the funds had been moved there.

Huobi tweeted that it would “fully support Axie Infinity in the aftermath of the attack. Sam Bankman-Fried, who runs the FTX cryptocurrency exchange, said in an e-mail that it would assist on the blockchain forensics.

The Ronin hack follows the February attack on the Wormhole bridge, which resulted in more than $300 million in losses that one of Wormhole’s sponsors, Jump Crypto, reimbursed. Other crypto bridges have suffered from so-called rug pulls when their founders disappeared and had issues when their key developers have gone rogue.

“In this case, the issue was that the bridge was highly centralized — the theft came as a result of someone hacking the ‘validator nodes’ of the Ronin Bridge,” said Tom Robinson, co-founder of Elliptic. “Funds can be moved out of the bridge if five of the nine validators approve it. The hacker managed to get hold of the private cryptographic keys belonging to five of the validators — so that was enough to steal the crypto assets.”

Hacks at bridges can threaten the entire ecosystem of decentralized apps, called dapps, from games to lending services. A bridge would typically take a user’s Ether and put it in a smart contract. Then it would issue the user an equivalent amount of so-called wrapped Ether, which can be used on this particular non-Ethereum blockchain — like Ronin or Solana — to invest into dapps. If the underlying Ether is stolen, the wrapped Ether becomes worthless, effectively leaving dapps and their users with massive losses.

“If a bridge has the ability to mint tokens, it’s like taking control of the minting machines,” Yat Siu, co-founder of Animoca Brands, an investor into gaming studio Sky Mavis, said in an interview before the hack. “Bridges are authorities at this point, and if they are designed badly or have vulnerabilities, they become a huge risk to the ecosystem.”

To save the entire Solana ecosystem from a direct hit, Jump Crypto bailed out Wormhole last month. Sky Mavis and Ronin haven’t announced any similar plans yet. — Bloomberg

POC ratifies PHILTA’s 90 days suspension, defers PATAFA’s

March 31, 2022 | 12:01 am

POC President Abraham Tolentino — PHILSTAR FILE PHOTO

THE Philippine Olympic Committee (POC) cracked the whip on the Philippine Tennis Association (PHILTA) while deferring making a decision against the Philippine Athletics Track and Field Association (PATAFA) to allow the mediation between the latter and Asian pole vault record-holder Ernest John “EJ” Obiena.

A total of 42 out of 55 voting members, which was more than the required two-thirds vote, ratified PHILTA’s 90-day suspension for failing to follow the International Tennis Federation’s instruction to amend its constitution and by-laws and hold elections.

But while it did not spare PHILTA, the POC showed leniency on PATAFA, which was reported to be close to patching things up with Mr. Obiena.

“In the spirit of sportsmanship and because of the Lenten season, I deferred the move to suspend the PATAFA as decided by the POC Executive Board,” said POC President Abraham Tolentino after the hybrid GA held at the Grandmaster Hotel in Tagaytay City.

“And because of the unfinished mediation procedure between the PATAFA and EJ [Ernest John] Obiena, a vote to suspend the athletics federation wasn’t offered to the GA,” he added.

Philippine Sports Commission chairman William Ramirez happily announced on Tuesday that PATAFA and Mr. Obiena are on the brink of mending fences and could end their row on Thursday.

But if it doesn’t, the congressman from Tagaytay said they could make the harsh decision to ban PATAFA in their GA next month.

“If the Patafa doesn’t endorse EJ [Obiena] in the next GA, the suspension will be decided on the floor,” said Mr. Tolentino. — Joey Villar

Cebu Landmasters launches P1.8-B project in Bacolod

March 31, 2022 | 12:01 am

PROPERTY developer Cebu Landmasters, Inc. (CLI) announced on Wednesday the start of the construction of its four-tower residential complex valued at P1.8 billion in Bacolod City.

“Casa Mira Towers Bacolod Tower 1 opened for selling last month is now 73% sold, generating a sales value of P630 million for 276 units. This is a testament of a robust demand for housing and Bacolod market’s strong acceptance of the project,” the company said in a disclosure.

The residential project offers 1,429 studio and one-bedroom units with areas of 20 to 22 square meters (sq.m.) and 27.75 to 29.75 sq.m., respectively.

It is set to be completed by the fourth quarter of 2026, and will be the second project in Bacolod to carry the Casa Mira brand, which accounted for 41% of the listed company’s record reservation sales of P16.5 billion in 2021.

“Like other Casa Mira properties in VisMin, Casa Mira Towers Bacolod offers a strategic location in Barangay Bata where it is accessible to the city’s business districts, major schools, hospitals and malls,” CLI said.

Around 40% of the project’s 1.12-hectare footprint will be devoted to open space, allowing residents a “more serene in-city living experience.”

Other amenities include a fitness gym, clubhouse, prayer room, viewing deck, play area, an adult and kiddie pool, and ground floor retail spaces.

CLI’s in-house property management firm will prepare backup power measures in case of power outages and provide security systems to “ensure the upkeep and growth in value over the long run of a residential condominium development.”

The real estate company said it is also set to launch more projects in Davao, Palawan, and Cebu.

In 2021, CLI posted an attributable net income of P535.96 million in the third quarter, down 24.5% from P709.78 million in 2020.

From January to September, attributable net income rose 23.3% to P1.85 billion from P1.50 billion previously.

At the stock exchange on Wednesday, CLI shares fell by P0.03 or 1.01% to P2.94 apiece. — Luisa Maria Jacinta C. Jocson

Dining In/Out (03/31/22)

March 31, 2022 | 12:01 am

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Webinar Mga Kuwentong Pagkain tackles folklore and food

THE WEBINAR Mga Kuwentong Pagkain: Pinoy Food Stories — done in partnership with the University of Hawaii at Mānoa’s Center for Philippine Studies, together with the City College of San Francisco’s Department of Philippine Studies — introduces the different facets of Filipino food mythology and mysticism. The still-growing interest in Filipino food has encouraged research on its various aspects — from heirloom produce, recipes, new ways and uses as well. However, there is still very little written about how traditional knowledge and beliefs rooted in folklore have informed the ways we consume food without even thinking about it today. Chef Giney Villar takes a closer look at the various ways food and other edibles have figured in the creation of stories to explain natural phenomena and other things. Specifically, food that have been assigned magical powers and conversely magical powers that have been assigned to certain plants, animal parts and other edibles. Food historian Felice Sta. Maria will also discuss the history of cacao in the Philippines, as well as the creation of champorado using heirloom rice from the Cordilleras in her video, Balatinaw Heirloom Rice Champorado. The northern Luzon’s narrative of the origin of rice will also be presented, through a shadow play narrative. Session 1, hosted by Paolo Paculan and Pia Arboleda, will be held on April 9 at 9 a.m. (Manila), April 8 at 3 p.m. in Hawaii, and April 8 at 6 p.m. in San Francisco. Interested participants may register through this link: https://tinyurl.com/MKPHawaii2022S1.

Tatatito offers meat-free dishes for Lent

ONE of the newest Filipino food joints in Makati, Tatatito Filipino Home Kitchen opened its doors to diners just a week before Alert Level 1 was announced in Metro Manila, and just in time for the start of Lent (March 2 to April 14). As the Christian tradition involves abstaining from meat every Friday until Holy Week, the newest restaurant venture from the Mc Wilson Food Group makes this choice easier with the restaurant’s selection of meat-free dishes (which will be available all year long). These dishes include crispy Shrimp Okoy and Squash Croquettas for appetizers; Sinigang sa Miso Salmon, Lemongrass Clam Soup; Deep Fried Lapu Lapu with Pomelo, Adobong Baby Pusit, Sweet ‘n’ Sour Camaron, Bistek Bangus, and, Tuna Belly Inasal for mains; and sides like Adobong Kangkong, Ginisang Ampalaya and Mushrooms, and Salted Egg Sitaw. One of the most popular dishes in Tatatito’s menu is the Bamboo Rice, which features flavored rice cooked inside bamboo. It comes in three variants, but its Squash & Crab variant is completely free of red meat. Tatatito Filipino Home Kitchen is located at the ground floor of OPL Bldg., 100 Don Carlos Palanca St., Legaspi Village, Makati City. It is open daily (Mondays to Thursdays, 8:30 a.m. to 10 p.m.; Fridays from 8:30 a.m. to 11 p.m.; and Saturdays and days from 8 a.m. to 9 p.m.). For online orders, call 0991-300-5000 or order through GrabFood and FoodPanda (available in select locations).

Hilton Clark Sun Valley’s Xi launches Yum Cha Fest

HILTON Clark Sun Valley Resort’s Cantonese restaurant Xi recently launched an extensive dim sum menu with its Yum Cha Festival, available Wednesdays and Thursdays from 11:30 a.m. to 3 p.m. The festival menu features 30 items to choose from including Barbecued pork buns, Wok-fried “Kung Pao” chicken with nuts, Pork spare ribs, and Har gao. Diners can choose from the Yum Cha menu’s selection of starters, main course, and dessert. Price starts at P1,188 per person. Xi, which offers authentic Cantonese cuisine reinterpreted in a modern way, is open Wednesdays to Sundays for lunch 11:30 a.m. to 3 p.m. and dinner 5:30 to 9:30 p.m. For inquiries and reservations, call +63 45 598-5400 or 0917-823-1580, or visit clarksunvalleyresort.hilton.com.

Burger King launches plant-based ‘chicken’ sandwich

BURGER King Philippines has announced the launch of its Plant-Based X-tra Long Chicken, which offers the same experience as its best-selling original X-tra Long Chicken but without the meat. After the successful launch of the Plant-Based Whopper in 2020, Burger King Philippines extends its plant-based menu with this new sandwich. It is currently available in all Burger King stores in Luzon and will be available nationwide by the end of March. The Plant-Based X-tra Long Chicken consists of a crispy six-inch plant-based patty developed by The Vegetarian Butcher, topped with fresh lettuce, plant-based mayonnaise, on soft sesame seed buns. The sandwich is available for dine-in, take-out, and delivery.

Jacob’s Creek Classic line launched

JACOB’S Creek Classic, a line of premium yet affordable wines, was introduced to the media in an event held virtually via online conferencing on March 17. Jacob’s Creek is Australia’s top bottled wine brand, with over 8,800 awards and over 170 years of heritage. The company estimates that a million glasses of their premium quality wines are enjoyed all around the world every day. The Jacob’s Creek Classic line stretches across a wide variety of red and white wines, including Cabernet Sauvignon, Shiraz Cabernet, Merlot, Chardonnay, and Riesling, just to name a few. The range is ideal for drinkers who seek excellent value for money and top-notch quality in their wines. Jacob’s Creek is also launching a new look for their wine bottles, with a bold, modern curved label harkening to the shape of the water from the namesake creek, as well as the shape of the wine swirling in the glass. The Jacob’s Creek Classic line is available in leading supermarkets and e-commerce sites starting at P449. For more information on Jacob’s Creek wines, follow Jacob’s Creek on Facebook and check out Jacob’s Creek on Boozy.

Philippines’ commitment to low-carbon future dips

March 31, 2022 | 12:00 am

How PSEi member stocks performed — March 30, 2022

March 31, 2022 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Wednesday, March 30, 2022.

Peso strengthens vs dollar on Russia-Ukraine peace talks

March 30, 2022 | 9:00 pm

THE PESO strengthened further against the dollar amid the ongoing peace talks between Russia and Ukraine. — BW FILE PHOTO

THE PESO appreciated versus the greenback on Wednesday as oil prices declined and the local stock market rebounded.

The local unit closed at P52.01 per dollar on Wednesday, stronger by 6.5 centavos from its P52.075 finish on Tuesday, based on data from the Bankers Association of the Philippines.

The peso opened Wednesday’s session at P52.02 per dollar. Its weakest showing was at P52.04, while its intraday best was at P51.92 versus the greenback.

Dollars exchanged increased to $1.119 billion on Wednesday from $1.047 billion on Tuesday.

The peso strengthened as global oil prices continued to decline due to optimism about the progress of ongoing peace talks between Russia and Ukraine, a trader said in an e-mail.

Reuters reported that fuel prices closed 2% lower on Tuesday amid progress in negotiations between Russia and Ukraine.

However, oil prices have rebounded by Wednesday due to concerns regarding new sanctions imposed by Western economies to Russia while their peace talks are ongoing.

Some Russian units suffering heavy losses in Ukraine had been forced to return home and to neighboring Belarus, British military intelligence said a day after Russia promised to scale down military operations around Kyiv and another city.

Ukrainian President Volodymyr Zelensky reacted with skepticism to the offer made by Russia during negotiations in Istanbul aimed at de-escalating a conflict now in its fifth week.

His forces have halted the invasion on most fronts, and some analysts noted that Russia’s promise to reduce fighting mostly covered areas where it has been losing ground, even as civilians remained trapped in besieged cities in the south and east.

Heavy losses and the withdrawal of some troops was impacting Russian operations, said Britain’s defense ministry.

Russia is likely to continue to compensate for its reduced ground maneuver capability through mass artillery and missile strikes, the ministry added.

Russia has failed to capture any major city in its month-long invasion, while Ukrainian forces have made advances, recapturing territory from Russian troops on the outskirts of Kyiv, in the northeast and in the south.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that the peso strengthened following the gains in the local stock market.

“The Philippine Stock Exchange index rose to a new three-week high or since March 8, 2022, as global market risk appetite improved recently with the easing of global oil prices to among one-week lows,” he said.

The benchmark index rose by 51.93 points or 0.73% to close at 7,167.02 on Wednesday. The broader all shares index also increased by 24.22 points or 0.64% to 3,794.75.

For Thursday, both Mr. Ricafort and the trader gave a forecast range of P51.90 to P52.10 per dollar. — L.W.T. Noble with Reuters

Stocks rise as Russia-Ukraine talks show progress

March 30, 2022 | 9:00 pm

SHARES rebounded on Wednesday following signs of progress in peace negotiations between Russia and Ukraine.

The benchmark Philippine Stock Exchange index (PSEi) went up by 51.93 points or 0.73% to close at 7,167.02 on Wednesday, while the broader all shares gained by 24.22 points or 0.64% to 3,794.75.

“Philippine shares continued latching onto the green region ahead of the quarter end as investors monitored ceasefire negotiations in Europe. Russian Deputy Defense Minister Alexander Fomin said that the country would “drastically” reduce military activity near Kyiv,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“The market gained, following the positive cues from the US markets overnight and the drop in global oil prices lifted the sentiment. Investors digest the developments in the Russia-Ukraine war after their face-to-face talks. In addition… the lockdown in China pulled global oil prices down. This, somehow, lifts the market sentiment at home,” Philstocks Financial Research Associate Claire T. Alviar said in a Viber message.

“The market finished higher, consistent with some markets across Asia, as investors expressed optimism over the recently held peace talks between Russia and Ukraine,” Timson Securities, Inc. Trader Darren Blaine T. Pangan added in a Viber message.

Russia said on Tuesday it plans to scale down military operations around the Ukrainian capital, Kyiv, while Ukraine might adopt a neutral status that may help de-escalate the five-week war, Reuters reported.

Talks took place in an Istanbul palace more than a month into the largest attack on a European nation since World War II that has killed or injured thousands, forced nearly 4 million to flee abroad, and pummeled Russia’s economy with sanctions.

Meanwhile, oil prices rose more than 2% on Wednesday. Brent crude futures were up $2.6 or 2.4% at $112.81, while US West Texas Intermediate crude futures rose $2.7 or 2.5% to $106.84 a barrel.

Back home, all sectoral indices closed in the green on Wednesday. Services climbed by 26.68 points or 1.39% to 1,940.40; mining and oil rose by 133.47 points or 1.08% to 12,393.52; holding firms improved by 66.75 points or 0.98% to 6,834.87; property went up by 15.34 points or 0.46% to 3,336.94; industrials advanced by 41.21 points or 0.42% to 9,733.65; and financials added 3.92 points or 0.23% to 1,681.70.

The MidCap index advanced by 10.49 points or 0.89% to close at 1,193.19, while the Dividend Yield index improved by 5.29 points or 0.31% to close at 1,693.75.

Value turnover increased to P6.87 billion with 719.59 million shares changing hands from the P4.87 billion or 788.02 million issues seen the previous day.

Advancers outnumbered decliners, 106 versus 81, while 44 names closed unchanged.

Net foreign selling fell to P48.90 million from P214.40 million seen on the previous trading day. — Luisa Maria Jacinta C. Jocson with Reuters

Doncic’s triple-double leads Mavs over skidding Lakers

March 30, 2022 | 8:15 pm

luka-doncici — DALLAS Mavericks guard Luka Doncic (77) drives to the basket past Los Angeles Lakers center Dwight Howard (39) during the first quarter at the American Airlines Center. — REUTERS

LUKA Doncic collected 34 points, 12 rebounds and 12 assists through three quarters to fuel the host Dallas Mavericks to a 128-110 wire-to-wire victory over the short-handed Los Angeles Lakers on Tuesday.

Doncic made 12 of 23 shots from the floor — including four 3-pointers — before sitting out the entire fourth quarter. The triple-double was Doncic’s 10^th of the season and 46^th career.

Reggie Bullock made five shots from beyond the arc to finish with 17 points for the Mavericks (47-29), who shot 51.7% from the floor and 43.5% from 3-point range (20-for-46).

Dallas recorded its fourth win in a row at home and 19^th in its last 23 to move within one game of the third-place Golden State Warriors in the Western Conference.

The Lakers (31-44) played without four-time NBA MVP LeBron James and Anthony Davis. James sustained a left ankle sprain in Los Angeles’ 116-108 loss to the New Orleans Pelicans on Sunday, while Davis hasn’t played since suffering a right midfoot sprain on Feb. 16.

Malik Monk scored 28 points and Russell Westbrook added 25 for the Lakers, who have lost three in a row. Los Angeles fell below idle San Antonio (31-44) — via tie-breaker — into 11^th place in the Western Conference.

Davis Bertans had four 3-pointers to finish with 14 points for the Mavericks. Spencer Dinwiddie had 13 points while Josh Green, Dwight Powell and Jalen Brunson each added 12.

Doncic scored 15 of his team’s first 23 points as Dallas bolted out of the blocks in the first quarter. Bullock buried back-to-back 3-pointers, Green added one of his own and Maxi Kleber made a layup as time expired to stake the Mavericks to a 43-25 lead at the end of the quarter.

Dallas continued its sharpshooting to seize an 82-56 lead at intermission. The Mavericks’ point total was their most in any half this season.

Doncic secured his triple-double after recording an offensive rebound and putback to stake the Mavericks to a 101-65 lead with 6:58 remaining in the third quarter.

Dallas, which led by as many as 37 points, put it on cruise control the rest of the way. — Reuters