China air force, referring to Taiwan, vows to safeguard its ‘territorial integrity’

July 31, 2022 | 6:01 pm

China-Taiwan-Chess — CHESS PIECES are seen in front of displayed China and Taiwan’s flags in this illustration taken Jan. 25, 2022. — REUTERS

BEIJING — China will “resolutely safeguard national sovereignty and territorial integrity,” an air force spokesman said on Sunday, referring to Taiwan, as tensions rise over the self-ruled island.

Air force spokesman Shen Jinke was quoted by state media as saying at a military airshow that the air force has many types of fighter jets capable of circling “the precious island of our motherland”.

US House of Representatives Speaker Nancy Pelosi, number 3 in the line of presidential succession, signaled on Friday she was embarking on a trip to Asia. She did not mention Taiwan, but speculation of a visit there has intensified in recent days, fueling tensions beyond the Taiwan Strait.

Beijing claims democratically ruled Taiwan as a Chinese province.

Chinese President Xi Jinping warned his US counterpart Joseph R. Biden on Thursday that Washington should abide by the one-China principle and “those who play with fire will perish by it.”

Shen said on Sunday: “The air force has the firm will, full confidence and sufficient capability to defend national sovereignty and territorial integrity.”

White House national security spokesperson John Kirby said on Friday the United States has seen no evidence of looming Chinese military activity against Taiwan. — Reuters

The ‘Great Resignation’ worked: Most job-swappers got a raise

July 31, 2022 | 6:01 pm

dollar-bills-currency — COLIN WATTS-UNSPLASH

FOR THE MAJORITY of people who quit their job in search of higher pay elsewhere, the wager paid off.

Even as inflation soared, 60% of those who quit between April 2021 and March 2022 realized real wage gains, according to a new report by the Pew Research Center. Less than half of workers who remained loyal to their employers can say the same.

The so-called Great Resignation has brought massive upheaval in the labor market, with quit rates at highs possibly not seen since the 1970s. An average of 4 million workers quit each month from January to March this year, for an annual turnover rate of nearly 50 million workers — about 30% of the workforce — according to Pew’s analysis, which assumes workers don’t change jobs more than once a year.

The report analyzed data from the US Census Bureau, Bureau of Labor Statistics and a survey of about 6,000 American adults conducted in June and July of this year.

As employers have struggled to cope with chronic staffing shortages brought on by rapid turnover, most workers who quit did not immediately jump into a new job. For those who quit this year from January to March, two-thirds were not with a new employer the following month. Instead, almost half left the labor force, while another 18% remained unemployed.

Women who quit were more likely than men to take a break from the labor force, according to the research. Men with children were the least likely to do the same.

The window of opportunity for potential job-switchers may be closing. With fears of recession mounting, many considering a change may stay put for fear that a new, higher-paying gig may be more difficult to get. According to the report, about 20% of workers say they’re likely to look for a new job in the next six months, though nearly 40% say they think landing one will be difficult.

Those with the least sense of stability are more inclined to move, according to Pew, with 45% of those with little job security likely to look for work elsewhere, relative to just 14% of workers who feel most secure. Almost 30% of workers who are financially insecure are likely to consider a change, nearly twice as many who are financially stable. — Bloomberg

British businesses are turning away from China due to political tensions

July 31, 2022 | 6:00 pm

LONDON — British businesses are cutting ties with China due to concerns about political tensions, a shift that is likely to stoke inflationary pressures, the head of the Confederation of British Industry (CBI) said in an interview published on Saturday.

“Every company that I speak to at the moment is engaged in rethinking their supply chains … because they anticipate that our politicians will inevitably accelerate towards a decoupled world from China,” CBI Director-General Tony Danker was quoted as telling the Financial Times newspaper.

China was Britain’s biggest source of imported goods in 2021, accounting for 13% of the total, while it was the sixth-largest destination for goods exports, according to Britain’s official trade statistics.

However, British security concerns have risen in recent years, fueled by disagreements with China over Hong Kong and other issues. Last week, the head of Britain’s foreign intelligence service, Richard Moore, said China was now his top priority, ahead of counter-terrorism work.

Britain has also increasingly blocked Chinese takeovers of companies on national security grounds.

Both the remaining candidates in the Conservative Party leadership contest — Foreign Secretary Liz Truss and former finance minister Rishi Sunak — have said they intend to take a tougher line on China.

Mr. Danker said growing US concern about China had also made British companies more wary about being dependent on Chinese suppliers, and that going elsewhere would be “more expensive and thus inflationary”.

“It doesn’t take a genius to think cheap goods and cheaper goods may be a thing of the past,” he added.

British inflation hit a 40-year high of 9.4% last month, partly because of the surge in energy prices caused by Russia’s invasion of Ukraine. — Reuters

Biden again tests positive for COVID-19, says he feels fine

July 31, 2022 | 5:59 pm

Joe Biden — PHOTO FROM JOE BIDEN FACEBOOK PAGE

WASHINGTON — US President Joseph R. Biden tested positive for coronavirus disease 2019 (COVID-19) again on Saturday in what the White House doctor described as a “rebound” case seen in a small percentage of patients who take the antiviral drug Paxlovid.

Mr. Biden, 79, who emerged from COVID isolation on Wednesday after testing positive on July 21, said he was feeling fine.

He will now return to strict isolation and will cancel planned trips to his home in Wilmington and work trip in Michigan, the White House said. Mr. Biden held public events on Wednesday and Thursday, but none on Friday.

The forced isolation comes as the White House was hoping to celebrate some recent legislative victories to help boost Mr. Biden’s slumping poll ratings.

Mr. Biden had planned the Michigan trip to tout Thursday’s passage of legislation to boost the US semiconductor chips industry.

Mr. Biden’s positive test is believed to be a “rebound” experienced by some COVID patients who take the anti-viral drug Paxlovid, according to White House physician Dr. Kevin O’Connor. Paxlovid is an antiviral medication from Pfizer. Inc. PFE.N that is used to treat high-risk patients, such as older patients.

A small but significant percentage of people who take Paxlovid will suffer a relapse or a rebound that occurs days after the five-day treatment course has ended, studies have shown.

White House officials had previously suggested a rebound case of COVID was unlikely, based on reports of cases around the country. However, Mr. Biden continued to be tested and monitored.

Mr. Biden tweeted about his positive case, saying it can happen to a “small minority of folks.” He later posted a video on Twitter where he said he was “feeling fine” and “everything’s good.”

A White House official said contact tracing efforts were underway Saturday after Biden’s positive COVID-19 test.

National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci also experienced rebound COVID-19. His symptoms got worse when they returned after treatment, and his doctors prescribed another course of Paxlovid.

Mr. O’Connor said Mr. Biden tested negative for the last four days, and there is no plan to reinitiate treatment given his lack of symptoms. — Reuters

Frayna, Mendoza wins keep women’s squad in the lead

July 31, 2022 | 5:51 pm

Men’s team suffer 3-1 defeat to Azerbaijan

JANELLE Mae Frayna and Shania Mae Mendoza delivered the wins when their team needed it most as the Philippines turned back an unheralded but fighting Nicaragua on Saturday night to firmly keep its stranglehold of the lead after two rounds of the 44^th World Chess Olympiad in Chennai, India.

Mses. Frayna and Mendoza went for the kill early by employing strong opening lines to overpower Maria Esther Granados Diaz and Patricia Alvarez Gutierrez on boards one and three, respectively, that sealed the win and a place for the Filipinas in the 40-nation lead pack with four match points each.

Jan Jodilyn Fronda tried to do the same with Michelle Ferrifino on board two, but she made an opening misstep that allowed her lower-ranked rival to equalize and send the duel to an equal opposite-colored bishops ending before agreeing for a truce.

The triumph softened the impact of Marie Antoinette San Diego’s shock defeat to Maria Jose Granados Ortiz on the last board in a duel where the former was punished by her opening adventurism that resulted to the latter launching an unrelenting and unstoppable kingside onslaught.

The loss forced the hand of national women’s coach Grandmaster (GM) Jayson Gonzales to sit out San Diego and replace her with Woman Grandmaster-candidate Kylen Joy Mordido when the team, which is being bankrolled by the Philippine Sports Commission, collides with 18^th seed Serbia in the third round at press time.

In the men’s side, GMs Mark Paragua and John Paul Gomez prevented a shutout by pulling off upset draws with Rauf Mamedov and Vasif Durarbayli on boards one and three, respectively, in a 3-1 win by sixth pick Azerbaijan.

GM Banjo Barcenilla and IM Paulo Bersamina lost to Gadir Guseinov and Nijat Abasov, on boards two and four, respectively.

It kicked the Filipinos spiraling down to a 65-country tie at 48^th spot with two match points to show in this 11-round, 12-day tournament participated in by 184 teams from 180 nations in the men’s division alone.

GM Darwin Laylo was re-injected into the roster in Mr. Bersamina’s place when the country tackles lowly Cyprus next. — Joey Villar

Philippine campaign goes into overdrive in 11^th ASEAN Para Games today

July 31, 2022 | 5:51 pm

SURAKARTA, Indonesia — The Philippine campaign in the 11^th Association of Southeast Asian Nations (ASEAN) Para Games goes into overdrive on Monday with national para-athletes seeking to contest 32 gold medals in athletics, swimming, and powerlifting in separate venues here and in the neighboring city of Semarang.

Tokyo Paralympians Jerrold Mangliwan and Jeanette Aceveda spearhead the track and field challenge at the Manahan Stadium where 20 golds will be up for grabs in the first major international stint for the majority of these athletes since the 2017 Malaysia edition of the meet.

WHEELCHAIR RACERS
Wheelchair racers Mr. Mangliwan, who won two golds in the 2015 Singapore ASEAN Para Games, and teammate Rodrigo Podiotan, Jr. are vying in the men’s 100-meter T52 race inside the sprawling 20,000-seat arena. Ms. Aceveda, a triple gold medalist in the 2013 Naypyidaw, Myanmar Games, who is visually impaired, is scheduled in the women’s discus throw F11-13 in the overseas stint supported by the Philippine Sports Commission.

National para head coach Joel Deriada said that among the rookies to watch are Daniel Enderes, Jr., a silver medalist in the Asian Youth Para Games in Manama, Bahrain last December, and King James Reyes, who sees action in the men’s 800-meter T20 and T46 events, respectively.

Wheelchair racer Arman Dino will try to surpass his silver-medal finish in the Malaysian capital of Kuala Lumpur five years ago when he competes in the men’s 100-meter run T47 together with Arvie John Arreglado.

TOP PROSPECT
Tokyo Paralympic veteran Ernie Gawilan looms as a top gold prospect in the men’s 400-meter freestyle S7 class at the Jatidiri Sports Complex pool in Semarang, located 104.8 kilometers northwest of Surakarta. Also tipped to make a splash is newcomer Angel Otom, an Asian Youth Para Games bronze medalist, in the women’s 50-meter backstroke S7 event in the swimming competition where nine golds are at stake on opening day.

Flag-bearer and two-time Asian Para Games silver medalist Achelle Guion tries to contribute to the country’s medal production as she competes in the women’s 45-kilogram event of powerlifting at the Solo Paragon Hotel. Also eyeing medals are Marydol Pamati-an and Denesia Esnara in the women’s 41-kg and 50-kg categories, respectively.

In other action, the national men’s and women’s wheelchair squads kick off their bid in the five-a-side basketball tournament both against Cambodia at the GOR Sritex Arena.

President Marcos Jr. confident of Philippine para-athletes’ fruitful stint in 11^th ASEAN Para Games

July 31, 2022 | 5:49 pm

SURAKARTA, Indonesia – President Ferdinand “Bongbong” R. Marcos, Jr. is looking forward to a fruitful campaign of Filipino para-athletes competing in the 11^th Association of Southeast Asian Nations (ASEAN) Para Games.

“Siguro naman mapapantayan ninyo ang mga success stories ng mga ibang atleta na lumaban sa mga international games kagaya nito,” Mr. Marcos said in a videotaped inspirational message released by the Philippine Sports Commission addressed to the country’s campaigners last Friday.

He cited the successes of Filipino athletes in international play such as karateka Junna Tsukii, who won the country’s second gold medal in The World Games in Birmingham, Alabama and the Filipinas capturing the AFF Women’s Championship trophy for the first time in front of a hometown crowd at the Rizal Memorial Stadium in July.

The most recent triumph came from pole vaulter Ernest John Obiena, who bagged a bronze medal in the World Athletics Championships in Eugene, Oregon with a new Asian and national record of 5.94 meters last week.

“Good luck sa inyong lahat at ako’y nakakasiguro na pasisikatin ninyong muli ang Pilipinas,” said Mr. Marcos in expressing his confidence that the national para-athletes would deliver and bring home the bacon from the 11-nation sportsfest.

Philippine Paralympic Committee was grateful to Mr. Marcos’ show of support for the country’s para-athletes in bringing pride and glory to the country during the ASEAN Para Games.

Núñez on target as Liverpool beats City in Community Shield

July 31, 2022 | 5:49 pm

LEICESTER, England — Darwin Núñez scored a late goal on his debut as Liverpool drew first blood in this season’s rivalry with Manchester City with a 3-1 win in Saturday’s Community Shield.

Trent Alexander-Arnold opened the scoring, firing Jürgen Klopp’s side ahead in the 21^stminute of the 100^th edition of the annual clash between league champions and FA Cup winners.

City’s new Norwegian signing Erling Haaland, brought in from Borussia Dortmund, missed two chances to mark his debut for the champions with a goal but Pep Guardiola’s side were missing their usual fluency.

It was another new striking addition who brought City level though in the 70^th minute when Phil Foden’s shot was parried by Adrian and with the ball spilling loose, Argentine substitute Julian Alvarez pounced to net his first goal for the club.

The effort was initially ruled out for offside, but a VAR review overturned the decision although the technology was soon to work against City.

Referee Craig Pawson went to the monitor before ruling that City defender Ruben Dias had handled at close range from a Núñez header and Mohamed Salah drilled home the penalty to restore Liverpool’s lead in the 83^rd.

Núñez then capped an impactful appearance from the bench, scoring with an angled header after Andy Robertson had nodded the ball into his path. — Reuters

NBA investigates 76ers for possible free-agent tampering

July 31, 2022 | 5:48 pm

THE National Basketball Association (NBA) has begun an investigation into the Philadelphia 76ers’ moves in free agency searching for possible tampering violations, ESPN reported on Friday night.

The inquiry revolves around James Harden, who was open about his decision to decline a $47-million player option for next season and take a pay cut to allow the 76ers more cap room to improve their team.

According to ESPN, it would have been a violation of the collective bargaining agreement had the 76ers and Harden formed a “handshake agreement” for Harden’s new two-year, $68-million deal before he declined the option and briefly became an unrestricted free agent.

With the savings, Philadelphia general manager Daryl Morey signed forward P.J. Tucker and guard/forward Danuel House. Both Tucker and House spent time playing for the Houston Rockets when Morey worked in that front office.

Harden’s new deal also includes a player option for the second year, so the superstar could opt out if he becomes unhappy with the Sixers.

But Harden was open about his desire to try to help Philadelphia make moves to help their championship ambitions.

“I had conversations with Daryl, and it was explained how we could get better and what the market value was for certain players. I told Daryl to improve the roster, sign who we needed to sign and give me whatever is left over,” Harden told Yahoo! Sports earlier this month. “This is how bad I want to win. I want to compete for a championship. That’s all that matters to me at this stage. I’m willing to take less to put us in position to accomplish that.”

The NBA is not shy about doling out punishments for tampering. The league stripped second-round picks from both the Chicago Bulls and Miami Heat in the 2022 draft after determining the teams had made early contact with then-free agents Lonzo Ball and Kyle Lowry, respectively. — Reuters

Opening ceremony

July 31, 2022 | 5:48 pm

THE Philippine para team enters the Manahan Stadium during the opening ceremony of the 11^th ASEAN Para Games on Saturday evening in Surakarta, Indonesia. A total of 144 Philippine para-athletes will be competing in 14 disciplines in the regional sportsfest.

DjoCOVID-19

July 31, 2022 | 5:47 pm

The United States Open gets under way in less than a month, and one of its biggest draws is understandably prepping for the fortnight. There’s just one problem, however; should things remain the same, he will not even be able to set foot in the United States, let alone the home of the last major championship of the year in Flushing Meadows, New York. Indeed, Novak Djokovic’s unvaccinated status has served as a hindrance to his unimpeded arrival in the country. As currently framed, immigration laws prohibit the entry of those with no inoculation against COVID-19.

The easiest path for Djokovic is, of course, to get injected with the vaccine. After all, it’s also the safest; science has proven beyond any reasonable doubt that getting the shots works. That said, he remains steadfast in refusing to do so. It has already led to inability to defend his Australian Open title in January because of his stance, and there remains a big question mark on whether he will be welcome Down Under next year after having been summarily deported. As he argued, missing out on Grand Slam tournaments “is a price I’m willing to pay.”

As head-scratching as Djokovic’s beliefs may be, there is something to be said about the strength of his conviction. He has gone on record as saying his ultimate goal is to accumulate the highest number of major titles. Because of his stubbornness (even against reason), however, he has placed — and continues to place — this objective in jeopardy. In this regard, he winds up being his worst enemy. No doubt, he doesn’t see things that way, and, yes, he will have cause you contend that the very traits hampering him are those that brought him to the top of the sport in the first place.

Djokovic is not alone in pointing out that rules on border entry in countries around the world insofar as they pertain to COVID-19 can’t even be uniformly applied, and not just to visitors. In the US, for example, residents can wander around freely without masks regardless of their vaccination status — as clear an indication of illogic as any. Nonetheless, it is what it is. Bottom line, he has the power to do something about his plight. That he isn’t inclined to help himself is on him, and him alone.

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.

GSIS to continue investing in public, private infrastructure

July 29, 2022 | 4:45 pm

THE Government Service Insurance System (GSIS) is looking to continue investing in state and private infrastructure projects through loans and equities, its new chief said.

GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso told reporters in a briefing on Friday that the GSIS wants to invest in projects to contribute to nation building and economic growth while growing their funds.

“Public sector or private sector, we will look at it. What’s important is the safety of our members’ money and the return that these investments would yield,” Mr. Veloso said in Filipino during the briefing held at its Pasay headquarters. “We want to ramp up our funds while helping the country.”

“We need to be at the table for all discussions relating to infrastructure, specifically as the government pushes for infrastructure as part of the President’s agenda,” he added.

The GSIS chief said the agency will consider investing in projects related to telecommunications, food security, electricity, power, digital infrastructure, medical services, transport, and housing.

They will invest by offering loans or buying shares to help fund these infrastructure projects.

Mr. Veloso said the GSIS also plans pursue joint ventures with the private sector regarding its 65 big-ticket real estate properties, as opposed to selling them outright.

GSIS Executive Vice President for Support Services Sector Dionisio C. Ebdane, Jr. said the state-run pension fund can invest P104 billion in equities and infrastructure. Out of the cap, it has invested only P35 billion, with P16.8 billion going to the Philippine Investment Alliance for Infrastructure (PINAI).

PINAI is a private equity fund partly financed by the Asian Development Bank and managed by Macquarie Infrastructure and Real Assets, which will wind down in 2024.

Mr. Ebdane said GSIS has seen good returns from the fund.

The GSIS expanded its investment portfolio by 5.22% to P890.59 billion in 2021 from P846.4 billion in 2020. The pension fund invests in infrastructure assets, and peso- and foreign-currency denominated instruments like cash, equities, time deposits and fixed income assets.

It booked a net income of P595.8 billion in 2021, a turnaround from the net loss worth P94.2 billion it posted the year prior.

The government wants its spending on infrastructure to reach at least 5% of gross domestic product during the six-year term of President Ferdinand “Bongbong” R. Marcos, Jr.

CALAMITY FUND

Meanwhile, Mr. Veloso said a P5.4-billion calamity fund can be tapped by 5,733 GSIS members and 2,503 pensioners in Abra after a 7.1-magnitude earthquake hit the province on Wednesday.

“GSIS members who have existing emergency loan balance may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000. Those without existing emergency loan may apply for P20,000. Pensioners may likewise apply for a P20,000 loan,” the GSIS said.

An emergency loan is payable in three years and entails a 6% interest. — D.G.C. Robles