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Arellano ousts José Rizal to face Benilde in Finals

ARELLANO University sets a Final showdown with College of St. Benilde. — SYNERGY/GMA NETWORK, INC.

ARELLANO University (AU) put an end to José Rizal University’s (JRU) fairy tale run while bolstering its chances of snaring a four-peat feat with a 19-25, 25-20, 27-25, 25-17 victory on Sunday in the 97th NCAA volleyball tournament at the Filoil EcoOil Centre.

Unheralded Pauline de Guzman came out of nowhere and unleashed a match-best 19 points including 15 on kills and three service aces to carry the Lady Chiefs to their fourth straight finals appearance and a chance for an amazing four-peat feat.

There, AU will clash with the league titan in College of St. Benilde (CSB), which swept its way straight to the best-of-three finals on a magnificent nine-win elimination round record.

The series starts on Wednesday while Game Two on Friday.

A deciding Game Three, if necessary, is Sunday.

It looked like though that AU won’t make it that far after starting the game a little nervous and sluggish and dropped the opening set to the gritty JRU team that was seeking a first finals trip in its history in the first and oldest collegiate league in the land.

But the Lady Chiefs managed to shake off the rust and showed nerves of steel from there to take the final three sets and the match.

“We got a little lucky there,” said AU Obet Javier.

But luck was far from the reason the reigning three-peat champions made it through.

It was actually Mr. Javier’s brilliance of pulling Ms. De Guzman, who was never even in the top 50 in the league’s top scorers, out of his hat of magic tricks that spelled the biggest difference.

“I asked her (Ms. De Guzman) if she wants play and she answered with a firm yes,” said Mr. Javier.

That magic stroke sent the Lady Bombers packing and in tears as they missed the chance of having a date with destiny.

It was AU who will try to test fate instead as it faces an unflappable CSB in a finale that the latter is heavily favored to win.

“It’s like playing a wall, a tower. But we’ll take the challenge,” said Mr. Javier. — Joey Villar

Stocks may drop on bets of aggressive Fed hike

BW FILE PHOTO

PHILIPPINE SHARES may decline further this week on expectations of another aggressive rate hike from the US Federal Reserve due to soaring inflation in the world’s largest economy.

The benchmark Philippine Stock Exchange index (PSEi) went down by 52.87 points or 0.84% to close at 6,195.26 on Friday, while the broader all shares index declined by 21.27 points or 0.63% to 3,345.73.

Week on week, the PSEi sank by 166.56 points or 2.62% from its close of 6,361.82 on July 8.

China Bank Securities Corp. Research Director Rastine Mackie D. Mercado said selling pressure remained strong last week amid US data and developments at home.

“Market weakness prevailed starting Wednesday as investors likely lightened their positions ahead of the US inflation data report. The June US inflation surprised to the downside at 9.1% and the BSP (Bangko Sentral ng Pilipinas) subsequently delivered a 75-basis-point (bp) off-cycle rate hike — its biggest rate hike on record — which resulted in the marked increase in selling pressure,” Mr. Mercado said in an e-mail.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said Philippine shares went down as the BSP’s surprise move could lead to higher financing costs for businesses and could cause a slowdown in economic activity.

“The PSEi [was] also lower, moving in line with the US stock markets that hovered among one-week lows recently amid lingering market concerns over a possible US economic slowdown or even recession amid aggressive Fed rate hikes to bring down elevated US inflation, as well as the continued hawkish signals by Fed officials,” Mr. Ricafort added.

US stocks closed sharply higher on Friday. The Dow Jones Industrial Average rose 658.09 points or 2.15% to 31,288.26; the S&P 500 gained 72.78 points or 1.92% to close at 3,863.16; and the Nasdaq Composite added 201.24 points or 1.79% to end at 11,452.42.

US consumer prices jumped 9.1% annually in June, the fastest in more than 40 years, data released on Wednesday showed. This fueled bets of an even bigger hike by the Fed at its July 27-28 review following the 75-bp increase made in June.

For this week, AP Securities, Inc. Equity Research Analyst Carlos Angelo O. Temporal said via Viber: “For the early part of [this] week, the local bourse may take a breather before continuing on its downtrend, taking cue from US market’s rebound last Friday which reflected abating expectations for a 100-bp Fed rate hike after policy makers remained firm on a possible 75-bp move this July.”

Mr. Ricafort said aside from the Fed, leads include local budget balance and external position data, as well as reports on US jobless claims and home sales. He placed the PSEi’s immediate support at psychological 6,000 mark and resistance at 6,300-6,500.

“The market was unable to adhere to the 6,300-6,500 range for [last] week, even breaching the 6,200-support level. This opens up the possibility of revisiting the 6,000 level as the index struggles to establish a strong support base,” Mr. Mercado added. — JIDT

How PSEi member stocks performed — July 15, 2022

Here’s a quick glance at how PSEi stocks fared on Friday, July 15, 2022.

EV production to hinge on vehicle takeup levels

REUTERS

THE possibility of domestic electric vehicle (EV) production will depend on the market reaching critical mass in both adoption and the number of charging stations, according to the Department of Trade and Industry (DTI). 

“We will come to a stage where we will assemble the vehicles here (in the country). But we’re not yet there because there’s so many preconditions to bringing in EVs here. You need a critical number so you can have charging stations along the way. Otherwise, there will be no buyers if users cannot bring their EVs out of Metro Manila,” Trade Secretary Alfredo E. Pascual said on the sidelines of the Management Association of the Philippines general membership meeting in Taguig City last week.

He did not provide an estimate for which levels of adoption might make investors believe critical mass has been achieved.

Mr. Pascual said that the DTI is aiming to build a parts ecosystem for EVs from among medium-sized Philippine suppliers.

“I want Philippine manufacturers, particularly, medium-sized companies, to become suppliers of parts and components, to be part of the global value chain,” Mr. Pascual said.

In April, former Trade Secretary Ramon M. Lopez proposed the issuance of an executive order that would grant the remaining slot for local manufacturing under the Comprehensive Automotive Resurgence Strategy (CARS) program to a domestic EV producer.  

Asked to comment, Mr. Pascual said that he is pushing for the CARS program, but maintained that some issues should be dealt with before EVs can be included in the initiative.

“We need to address the fundamental issues. It will take time to set up charging stations and the price of electricity in the country is high,” Mr. Pascual said.

The CARS program offers fiscal support to participating car manufacturers domestically producing at least 200,000 units within six years.

The program was supposed to have three car manufacturers, but only two companies enrolled — Toyota Motor Philippines Corp. (TMPC) and Mitsubishi Motors Philippines Corp. (MMPC).

TMPC manufactures its Vios small sedan while MMPC produces the Mirage under the program. The deadline for MMPC to achieve the Mirage production quota is 2023 while TMPC has until 2024 to manufacture the required number of Vioses.

The DTI has also proposed a zero-tariff policy for EV imports to reduce purchase prices and encourage broader adoption.

The Philippines recently passed Republic Act No. 11697 or the Electric Vehicle Industry Development Act. Under the law, companies, public transport operators, and government units are required to maintain vehicle fleets that include at least 5% EVs. — Revin Mikhael D. Ochave

Supermarkets see goods not subject to price controls becoming more expensive

A woman buys food items at a supermarket in Quezon City, March 4, 2022. — PHILIPPINE STAR/ MICHAEL VARCAS

SUPERMARKETS said prices are rising for goods not subject to government price ceilings.

Steven T. Cua, Philippine Amalgamated Supermarkets Association, Inc. president, said such price behavior has been observed in grocery items not covered by the suggested retail price scheme.

“Prices continue to surge for (grocery) items not monitored by the Department of Trade and Industry (DTI). These products belong to all categories especially if imported, repacked, or re-canned but manufactured abroad such as bread spreads and luncheon meat,” Mr. Cua told BusinessWorld via mobile phone.  

“(The) increases would range from 5% to 10% for local goods and 12% to 25% for imported items during the last few months. This is due to the cost of bringing in imported raw materials, intermediate goods which need repacking or processing, and finished goods,” he added.

Under Republic Act No. 7581 or the Price Act, the DTI issues suggested retail prices (SRPs) for basic necessities and prime commodities that it monitors.

The DTI defines basic necessities as products deemed important to the needs of consumers for their sustenance, while prime commodities are products not considered basic necessities but otherwise deemed essential. 

Some of the basic necessities covered by the DTI include bread, canned fish, detergent, processed milk, and locally manufactured instant noodles, while prime commodities include flour, toilet soap, vinegar, and soy sauce.  

The latest SRP bulletin was issued in May, which reflected price increases ranging from 2% to 10% for 82 stock keeping units (SKUs) such as bread and coffee, while 136 SKU prices were maintained.

On July 12, the DTI said that the current price hike petitions by makers of canned meat, coffee, bread, and detergent are in the final review stages and may take a few more weeks before obtaining approval.

It added that the proposed price increases were caused by rising input costs, which are thus far being absorbed by manufacturers.

“It could take us probably a couple of weeks for us to complete and submit our recommendation for approval, and another couple of weeks probably for the Secretary to approve and for us to (move to) publication,” Trade Undersecretary Ruth B. Castelo said.

Meanwhile, Mr. Cua said foot traffic in supermarkets has increased despite the new surge in coronavirus disease 2019 (COVID-19) cases. 

“There is a need for continuous urging of the population to get their COVID-19 booster shots,” Mr. Cua added.

On Saturday, the Health department announced that there were 2,578 new COVID-19 cases, bringing the country’s case count to 3,730,545. — Revin Mikhael D. Ochave

May debt service bill rises nearly 52%

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THE National Government paid P57.44 billion to service its debt in May, up 51.96% from a year earlier, with both interest and amortization components rising, the Bureau of the Treasury (BTr) said, citing preliminary data.

In May, around 58.9% of debt repayments serviced interest, while the rest went to amortization, it said.

Overall interest payments rose 16.93% to P33.83 billion in May, with interest paid on domestic debt up 19.74% year on year at P28.87 billion. This consisted of P19.41 billion for Treasury bonds, P7.94 billion for retail Treasury bonds, and P1.53 billion for Treasury bills.

Interest paid on foreign debt rose 2.86% to P4.96 billion.

Amortization payments rose 166.3% to P23.61 billion in May. All payments of principal during the month went to foreign creditors. The BTr settled no outstanding principal with domestic lenders.

The five-month debt service bill dropped 33.6% year on year to P414.07 billion, with around 53.24% going towards interest payments, and the rest to amortization.

Principal payments from January to May stood at P193.61 billion, down 56.49% from a year earlier. This consisted of P153.02 billion in domestic debt and P40.59 billion in foreign obligations.

Interest payments rose 23.43% to P220.46 billion in the five months. These included P172.36 billion worth of payments to domestic creditors and P48.11 billion to external creditors.

The government borrows from foreign and local sources to fund its budget deficit as it spends more than the revenue it generates to support programs to stimulate economic growth.

The government wants to raise P2.47 trillion to help fund its budget deficit this year, with about 77% coming from domestic sources.

Fitch Ratings in February maintained the country’s investment grade “BBB” rating, but kept the “negative” outlook as it flagged uncertainties surrounding medium-term growth and hurdles to bringing down debt. A negative outlook means a downgrade is possible within the next 12 to 18 months.

S&P Global Ratings last affirmed the Philippines’ “BBB+” rating with a stable outlook in May 2021. Meanwhile, Moody’s affirmed its “Baa2” credit rating with a stable outlook for the Philippines in July 2020.

The National Government has taken on P883.11 billion in gross borrowing as of May, down 43.38% year on year, according to the BTr data.

The government plans to spend P1.298 trillion on debt payments this year, with P785.21 billion budgeted for principal and the remaining P512.59 billion for interest.

The Philippines registered a debt-to-gross domestic product (GDP) ratio of 63.5% as of the first quarter, higher than the 60% debt-to-GDP ratio considered manageable by multilateral lenders for developing economies. — Diego Gabriel C. Robles

Transforming with humans at center

(First of two parts)

Transformation has always been integral to the long-term success of a business. But for many years, the process by which businesses overhauled their operations to boost productivity and promote sustainable growth was sporadic. In many instances, changes in stakeholder expectations or market sentiment would prompt leaders to rethink their organizations from the ground up or make small changes to adapt.

However, both the nature and rate of transformation have changed in the past few years. In the EY 2021 Global Board Risk survey, as much as 82% of board members and CEOs stated that market disruptions have increased in frequency and severity. Companies have started to transform more regularly to keep up — amplifying the need to successfully transform and do so consistently.

A research collaboration established in 2021 between EY and the Saïd Business School of the University of Oxford determined the need for a more effective and contemporary means to sustain organizational change. Specifically, it has to employ a strategy that takes into account the sentiments of both leaders and workers to focus on human factors, which are frequently cited as one of the main reasons why transformations fail. Moreover, the research posited that apart from the transformation failure rate being too high, organizations can no longer afford the human cost associated with it.

HUMAN EMOTIONS AT THE HEART OF TRANSFORMATION SUCCESS
Leaders usually invest early to create the circumstances for a successful transformation on both an emotional and a rational level. The research observed that, along the way, confidence in the process may ebb as tensions arise, but also noted that the support usually increases to match the pressure. Workers will feel positive by the end of the transformation with proper and timely support. The study has found that positive worker sentiment increased by 50% after successful transformations.

The emotional state of both leaders and employees at the start of a successful transition is comparable, but there will be a point in the transformation when things start to go awry. This is where supportive intervention is needed as up to 66% of employees feel stressed with an underperforming transformation. The impact of a failed transformation can be severe, with up to 75% of the workforce experiencing negative feelings and an extreme of 31% feeling angry, depressed or sad.

This is particularly noteworthy in situations where a series of transformations is planned. While negative emotions in the workforce can rise by 25% during successful transformations, it rises dramatically to 130% during unsuccessful ones. Going into the next transformation with this negativity can be devastating for any new transformation efforts. This makes it even more important for organizations to revisit their transformation plans and keep humans at the center in order to better turn transformation failure into success.

Research findings from the study identified six key drivers that can help increase the likelihood of transformation success. In the first part of this article, we discuss the first three: adapting and nurturing the necessary leadership skills, creating a vision that everyone can believe in, and building a culture that encourages and embraces all opinions.

LEAD: ADAPT AND NURTURE THE NECESSARY LEADERSHIP SKILLS
Regardless of whether a transformation was successful or not, employees in the study ranked leadership as the most important factor. Interestingly, while leaders considered leadership as the primary factor in successful transformations, they also saw it as irrelevant when the transformation failed. Given the importance of personal emotional development, leaders must be aware of their own mental and physical limitations. Moreover, they must be absolutely open and honest about their worries, fears, and self-doubt regarding the transformation journey, as well as admit what they don’t know and still need to learn.

Leaders need to have the courage to admit they may not have all the solutions and be willing to demonstrate the humility to search both inside and outside the company for such solutions. For instance, compared to respondents in low-performing transformations, respondents in high-performing transformations were more likely to say that leaders embraced ideas from more junior staff.

To demonstrate that the entire team is participating in the transformation together, leaders must take responsibility for both the good and the bad. By promoting collaboration, achieving consensus, and establishing consistent two-way communication with those driving the execution, leaders can highlight that everyone contributes. Successful transformation executives have reportedly spoken with employees directly to ascertain their concerns. Others made investments in technological platforms that enabled two-way communication and united diverse viewpoints.

Key driver: Leaders must invest in their own transformation and place a strong emphasis on teamwork and communication.

INSPIRE: CREATE A VISION EVERYONE CAN BELIEVE IN
Vision establishes the transformation tone and foundational framework. In order to find a compelling vision, leaders must look outside of themselves, their company, and their sector. They should cast a wide net to find inspiration and employ future-back planning to locate exciting new opportunities, creating a compelling vision that can inspire everyone. Compared to 26% of respondents in a low-performing transformation, 47% of those in a high-performing transformation thought the vision was compelling and clear.

As much as 71% of employees think that this can increase the success of a transformation, making it imperative for leaders to effectively convey why change is necessary rather than merely state what they must do if they want the vision to become a reality. Instead of just encouraging their people to understand the vision, leaders must nurture genuine belief in it.

Compared to 25% of respondents in low-performing transformations, 50% of respondents in high-performing transformations said that leadership made it obvious why the organization needed to change.

Key driver: Leaders must manifest a vision that everyone can support, motivating employees to go above and beyond.

CARE: BUILD A CULTURE THAT ENCOURAGES AND EMBRACES ALL OPINIONS
Emotions are the key to a successful transition, but if the business is unprepared, it can doom the transformation to failure. In the study, 50% of the employees who went through a successful transformation felt that transformation was merely another word for layoffs. Workers involved in poorly executed transformations reported feeling ignored, unsupported, and stressed both during and after the transition. Leaders admitted in follow-up meetings that they were shocked by these results and were not aware of the severe toll that a poorly executed change had taken on their workforce.

In addition to giving enough emotional support to minimize anxiety and burnout, leaders must be able to manage emotions to keep employees motivated and engaged. According to the prediction model used in the study, extending emotional support increased the average likelihood of transformation success by 17%.

Understanding the emotional condition of the workforce during the transformation process will help leaders spot early warning signs and make the necessary modifications to set the transformation back on track.

Key driver: Leaders will have to pay close attention to what their people are saying, identify the cause of their anxiety, and try to solve problems in a way that is both productive and emotionally supportive.

In the second part of this article, we will discuss the next three key drivers: setting clear responsibilities and preparing for change, using technology to quickly drive visible action, and finding the best ways to connect and collaborate.

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.

 

Rossana A. Fajardo is the EY ASEAN business consulting leader and the consulting service line leader of SGV & Co.

Aaron Judge aims to eclipse Roger Maris homerun mark as New York Yankees host Red Sox

NEW York Yankees center fielder Aaron Judge (99) bats during the game against the Houston Astros at Minute Maid Park. — REUTERS

IN 1961, Roger Maris reached 33 homers before the All-Star break on his way to hitting 61 homers and breaking Babe Ruth’s single-season record.

Sixty-one years later, Aaron Judge has matched the mark set by Maris and gets one more day to see if he can surpass him when the New York Yankees conclude the first half of the season by hosting the struggling Boston Red Sox on Sunday afternoon.

Judge leads the major league home run race by five over Philadelphia slugger Kyle Schwarber after getting his seventh multi-homer game this season with a solo shot and matched Maris with a two-run drive in Saturday’s 14-1 win.

Since the All-Star game began in 1933, Judge is the sixth player in major league history with 30 homers in multiple seasons before the break. Judge also hit 30 of his 52 homers before the break in 2017 on his way to winning AL Rookie of the Year honors.

Judge will play in his 89th game, six more than Maris before the break in 1961.

Judge will make his first attempts at breaking the team record against Chris Sale (0-0, 0.00 ERA). Judge is 5-for-25 against Sale with one homer and 15 strikeouts.

New York is coming off one of its most lopsided wins of the season after dropping five of its previous six games for its first slump this season. The Yankees also cruised to the win by getting a pair of three-run homers and seven RBIs from Matt Carpenter after playing three straight extra-inning games and losing four times in the final at-bat.

The Red Sox head into the finale of an inconsistent first half with five losses in their last six games and still seek their first series win against an AL East opponent, whom they are 12-25 against.

The Red Sox are facing Cole (8-2, 3.05) for the third time this season after tagging him for eight runs and nine hits in their first 10 innings against the right-hander.

Sale is making his second start since returning from a broken rib. In his season debut, Sale pitched five scoreless innings and threw 78 pitches on Tuesday at Tampa Bay when his fastball averaged 95.1 mph and topped out at 96.9.

Sale is 6-8 with a 2.98 ERA in 21 career appearances (18 starts) against the Yankees. He last faced the Yankees Aug. 3, 2019, in New York, where he was tagged for eight runs and nine hits in 3 2/3 innings. — Reuters

Lewandowski set to join Barça after verbal agreement with Bayern

BAYERN Munich striker Robert Lewandowski is set to join Barcelona after the two clubs reached an agreement in principle on the transfer, the clubs said on Saturday.

The 33-year-old has 12 months remaining on his Bayern contract and multiple media reports had said he was expected to sign a three-year deal with the 26-times Spanish champions.

“We have come to a verbal agreement with Barcelona,” Bayern president Herbert Hainer said in a statement.

“It’s good to have clarity for all parties. Robert is an incredible player and he won everything with us. We are incredibly grateful to him.”

Spanish media reported that Barcelona would pay around €45 million ($45.4 million) plus another €5 million in add-ons for the Poland striker.

Lewandowski took part in his last training session with Bayern on Saturday after which he was seen saying goodbye to his teammates, embracing each of them.

He was not present at the team presentation for the 2022-2023 season later in the day. He is expected to join Barcelona on their pre-season US tour, during which he is set to undergo a medical, Spanish media said.

“We spoke at length with our colleagues from Barcelona and clarified the details. He said farewell this morning,” Bayern sports director Hasan Salihamidžić said on the club’s website.

“After our trip to the US, he’ll come back one more time and we’ll have a coffee together. We wish him every success at his new club.”

The player’s contract with Barcelona is still pending, Bayern CEO Oliver Kahn said.

“We know very well what we have to thank Robert for, but great players have also left FC Bayern in the past, and even after that Bayern’s world did not fall apart. On the contrary, it often continued with even more success,” he added.

Lewandowski joined Bayern in 2014 from Borussia Dortmund and has won the Bundesliga every year since then, as well as the Champions League in 2020.

Named FIFA Best Men’s Player for the second straight year in January, Lewandowski said in May that his story with Bayern was over and he could not imagine staying on with the German champions.

The club was not eager to let the Bundesliga’s second-highest all-time scorer go, but Salihamidžić had confirmed Lewandowski did not accept an offer to extend his contract and was looking for a new experience elsewhere.

Bayern also announced that Germany forward Serge Gnabry, who had been linked by British media with a return to the Premier League, had extended his contract until 2026. — Reuters

Spain seals Euro last-eight clash with England after win over Denmark

LONDON — Spain booked a quarterfinal meeting with Women’s Euro host England after a 1-0 win over Denmark on Saturday ensured they finished as runner-up in Group B.

Having beaten Finland in their opening game, a draw was all Jorge Vilda’s side needed to seal a place in the last eight behind group winner Germany but a late header from Marta Cardona put a gloss on their progression.

It was a cagey affair to begin with at a sunny and noisy Brentford Community Stadium, with 2017 runner-up Denmark threatening on the break but unable to find a clear shot on goal.

Spain had numerous efforts from forward Athenea Del Castillo but all were stopped by goalkeeper Lene Christensen, while captain Irene Paredes had a goalbound header cleared off the line on the stroke of half time.

Spain dominated possession in the second half but their end product let them down, while Denmark’s best chance fell to substitute Nadia Nadim in the 78th minute when she was set up by Pernille Harder in the box moments after coming on. However, her right-footed shot was tipped over by Sandra Panos.

Denmark looked out of ideas as the clock ticked down and their fate was sealed in the 90th minute as Cardona drifted in at the far post to get on the end of a deep cross from Olga Carmona and head in the winner.

“We knew their game — they were just waiting for the moment to counterattack, or get a corner to score a goal,” Paredes said. “We knew that but had to trust in ourselves — just keep the ball and try, try, try, and defend. We suffered a lot but we trust in this team a lot and we won the game.”

It is the third successive time Spain have qualified for the quarterfinals but they face a tough battle to reach the last four when they take on England at Brighton’s Amex Stadium on Wednesday.

“To play in this country against them, with the atmosphere there’ll be in that game, is going to be amazing. It’s going to be a tough game but we are ready for that,” Paredes added.

For Denmark, it was a disappointing exit considering their strong showing in 2017 but captain and Chelsea forward Harder was proud of her team’s showing on Saturday evening.

“I think the girls fought fabulously well, and I’m proud of them. We fought our backsides off, but the ball simply wouldn’t go in,” she told TV2. — Reuters

LA at a crossroad

Russell Westbrook is, if nothing else, a proud man. He believes he has earned his place in the upper echelons of the National Basketball Association with his resolute application of his singular skill set — and, yes, he will argue that his body of work bears him out. Not for nothing was he able to wrap his arms around the Maurice Podoloff Trophy in 2017, and his resume includes nine All-NBA selections, nine All-Star berths, four triple-double seasons, three assist titles, and two scoring crowns. Which, in a nutshell, is why he feels he is not being accorded the respect he deserves. Not by the Lakers, who have seemingly resolved to dangle him as trade bait a single year after they wooed him into the fold. And not by the rest of the league, who doesn’t appear to value his services enough to spread the welcome mat for him.

Considering that Westbrook just fired longtime agent Thad Foucher (who had advocated for him to stay with the Lakers), it’s evident that he can’t wait to get out of La-La Land. He simply won’t accept a situation where he’s no longer seen as integral to progress. Heck, he can’t even keep up appearances; last week, he purposely ignored teammate and supposed close friend LeBron James, said to be pining for the mercurial Kyrie Irving at his expense, even though they were both at the Thomas & Mack Center in Las Vegas for the Summer League.

So, yes, everybody seems to be on the same page insofar as the Westbrook experiment is concerned — even Westbrook himself. The problem is his price tag: He’s due to be paid $47.1 million in the last year of his contact, to which he opted in three weeks ago. At the same time, the Lakers want to ensure that they are not being fleeced by the Nets, potential trade partners for Irving, for whom the market is likewise extremely thin. They’re angling to keep their first-round picks, not to mention avoid taking in onerous salaries in turn.

Under the circumstances, the Lakers will need to walk the tightrope between being patient and being proactive. They may want to get Irving on board soonest, but they’re subject to the Nets’ timetable, who are understandably determined to act on Kevin Durant’s trade request first. In other words, they should be ready to play the long game, never mind the obvious difficulties associated with continuing to integrate Westbrook in an environment where all and sundry know the real score.

How the 2022-23 season will unfold for the Lakers is anybody’s guess. That said, they are undeniably at a crossroads, what with James also in the last year of his contract and his inclination to extend it dependent on how competitive they become. He’s an old 37 with an eye towards cementing his status as the best of the best of all time in the sport, so he knows his capacity to chase the hardware is fast dwindling. He has only so many tries left, and far be it for him to waste these by perpetuating a condition that he knows does not work. It’s the very definition of insanity — doing the same thing and expecting a different result. Meanwhile, nobody’s happy. At the very least, fans long used to winning should be prepared for quarters pouting and posting cryptic messages on social media, taking passive-aggressive actions, and doing a whole lot of running in place.

 

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: National security should improve lives

Fisherfolks in Scarborough Shoal area in Masinloc, Zambales. — REUTERS

By Kyle Aristophere T. Atienza, Reporter

The Philippines’ national security strategy should also protect strategic industries, political analysts said on Sunday, as the government resumes free trade talks.

Threats posed by global events such as foreign interventions and cyberattacks should also be considered in the country’s security planning, they added.

“In terms of national security, the contemporary conversation now is on human security at large,” said Hansley A. Juliano, a political economy researcher studying at Nagoya University’s Graduate School of International Development in Japan.

“Developing countries are being confronted with the question of how secure the quality of life of people really is,” he said in a Facebook Messenger chat.

Mr. Juliano said the coronavirus pandemic, climate change and other environmental challenges “already showed us how nontraditional threats to quality of life can cause greater damage than just mere external military invasion or insurgencies.”

Clarita A. Carlos, President Ferdinand R. Marcos, Jr.’s national security adviser, has said the government would veer away from the US concept of national security, which she said has a bias for the military perspective.

The previous government had been criticized for using militarist solutions to national problems, including the global pandemic.

National security should also focus on the “economic life” of the country, Ms. Carlos said last month. Access to food, energy and water should also be considered as a security concern, she added.

The Philippine Senate failed to ratify a free trade agreement involving Australia, China, Japan, South Korea, New Zealand and other Southeast Asian countries.

Senators did not approve the trade deal due to fears that it might damage the agriculture sector and other local industries. Aside from the Philippines, Indonesia and Myanmar also did not approve the trade.

Joseph Purugganan, program coordinator at the policy research group Focus on the Global South, said the Philippines must be prepared because there is “a geopolitical agenda” seeking to cement a free trade agreement landscape in Asia.

“All the big economies are pursuing their own trade and investment strategies using a host of bilateral, regional and international platforms and arrangements in order to advance their economic and security interests,” he said in an e-mail.

“Both the European Union and US are looking at Asia in developing their economic pivot strategies to counter China’s influence in the region and advance their own strategic interests.”

Mr. Purugganan said the government must build and strengthen its domestic economy and manufacturing capacity, while cutting its overdependence on global supply chains.

“Our economic resilience depends  on strengthening our own capacities to withstand global and regional shocks,” he said. “While we should not retreat from international cooperation, our engagement should be driven more by this goal to strengthen the domestic economy rather than a more outward, export-oriented strategy.”

Mr. Marcos, 64, has committed to strengthen the country’s industries, vowing to boost local food production and limit imports as much as possible.

Mr. Purugganan said the government should identify the minerals key to the economic and national security of the Philippines and plan how they should be extracted, used locally and exported. “The big powers are doing that and so should developing countries like the Philippines.”

“Mega free trade agreements pry open our economies, including critical areas that impact food security, natural resource utilization, land ownership, energy and water,” he said. “Yet the government approaches these talks primarily through the lens of corporate interests.”

The experts said the country’s security plan should also consider how the open data market, which is controlled by private companies, poses threats to public security.

“The main currency of the global economy is not exactly material goods or finance anymore, but data,” Mr. Juliano said. “Any data and metadata being produced right now by the global economy is controlled, utilized and upcycled by big tech companies.”

“We are inevitably on the path to digitalization, which means that cyber-security must be a top national security priority,” said Michael Henry Ll. Yusingco, a policy analyst who used to worke with the Ateneo Policy Center.

‘BLUE ECONOMY’

“A lot of great things have been done on this front, but the goal should be for our country to be a leader in this field and not merely the recipient of aid from other nations.”

Mr. Yusingco said the country’s security planners should also consider the fact that the Philippines is an island nation. “This means securing our seas and protecting our maritime resources must be the top priority.”

He said the national security framework should also meet the demands of a blue economy paradigm, which calls for the sustainable use of ocean resources for economic growth.

“There is a vast pool of human resources that can be tapped for national security goals,” Mr. Yusingco said. “This means strategically utilizing this resource to make the country a maritime and cyber-security power.”

Academics have said the Philippines’ security management in relation to its foreign policy has been bogged down by political partisanship and the failure of administrations to involve nongovernment sectors.

Mr. Marcos has canceled China’s funding commitment for railway projects worth $4.9 billion after it failed to respond to the Philippine government’s loan application struck by ex-President Rodrigo R. Duterte.

Mr. Duterte had been criticized for gambling Philippine territories in exchange for investment pledges, most of which have never materialized into actual projects.

“The underpinning principle of the national security framework should always be to protect and defend our maritime resources,” Mr. Yusingco said.

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