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Brooklyn Nets say Kyrie Irving cannot play or practice until eligible

BROOKLYN Nets’ Kyrie Irving will not be allowed to play or practice with the team until he is “eligible to be a full participant,” the National Basketball Association (NBA) franchise said on Tuesday amid the continuing fallout over the guard’s coronavirus disease 2019 (COVID-19) vaccination status.

Irving, who refused to reveal his vaccination status, was forced to sit out the Nets’ first pre-season home game last week against the Milwaukee Bucks as he was listed as “ineligible” by the team.

A New York City mandate requires proof of at least one shot of the COVID-19 vaccine to enter large indoor spaces such as gyms.

“Given the evolving nature of the situation and after thorough deliberation, we have decided Kyrie Irving will not play or practice with the team until he is eligible to be a full participant,” Nets’ general manager Sean Marks said in a statement.

“Kyrie has made a personal choice and we respect his individual right to choose.

“Currently, the choice restricts his ability to be a full-time member of the team, and we will not permit any member of our team to participate with part-time availability.”

The Nets begin their regular season on the road with games against the Milwaukee Bucks and the Philadelphia 76ers before their first home game at against the Charlotte Hornets on Oct. 24. — Reuters

Denmark reaches World Cup with 1-0 win over Austria

COPENHAGEN — Denmark became the second European nation to reach the 2022 World Cup after a 1-0 home win over Austria on Tuesday left them top of qualifying Group F with an unassailable seven-point lead over second-placed Scotland.

After Germany advanced to the 32-nation tournament in Qatar on Monday, the Danes secured their own berth with two games to spare as a 53rd-minute goal from Joakim Mæhle helped them to an eighth successive qualifying victory.

Denmark and Germany joined Qatar, who gained an automatic spot in the finals as the host nation. Only the group winners from European qualifying advance directly while the runners-up enter the playoffs.

Denmark have scored 27 goals and conceded none so far in World Cup qualifying, with their run to the finals underpinned by some impressive free-flowing football.

Following joyous scenes as the Danes mobbed each other after the final whistle, captain Simon Kjær stressed they now wanted to make an impact in Qatar after romping through qualifying.

“We built up a crew and a mentality that is incredibly healthy and we have been eager to improve all the time,” the 32-year old centerback told the country’s Kanal 5 television.

“We share the best with each other and adding that to the quality we have, we can go a long way. We have come a long way already, but we have only become hungrier.”

For all their flair and attacking potential, the Danes did look jittery for long spells against a well-organized Austria side who packed their midfield to cut off the supply routes.

Visiting goalkeeper Daniel Bachmann denied Andreas Skov Olsen and Mikkel Damsgaard in the first half and then kept out a Thomas Delaney effort in the 48th minute as the home side struggled to create clear-cut chances.

But Bachmann was powerless five minutes later as Denmark’s best moment of the match produced a brilliant goal with Delaney at the heart of a breathtaking move.

The central midfielder weaved his way past four markers through the middle and then teed up Mæhle to plant his shot from eight meters inside the near post and delight the home fans in a packed Parken stadium.

Delaney was elated after the match as Denmark made it to their second successive World Cup, having reached the round of 16 in the 2018 tournament before advancing to the Euro 2020 semifinals this year.

“It’s a pleasure throughout, in every match,” he said.

“The support we’ve had. It is unique, what we have created, we can be proud of.”

Mæhle added: “It means a lot, it’s one of the coolest nights in the Park in a long time. It is fantastic. It’s strong for us to win here, and we got this ticket to the World Cup.” — Reuters

England held 1-1 by Hungary in match marred by crowd violence

LONDON — England took another, somewhat faltering, step towards 2022 World Cup qualification when they drew 1-1 with Hungary at Wembley on Tuesday and are now three points clear at the top of Group I with two matches remaining.

The game was marred by fighting in the stands between Hungary fans and baton-wielding police just after kickoff, with riot police entering the fray as visiting supporters forced stewards and police back down a tunnel.

On the pitch, the visitors went ahead with a Roland Sallai penalty in the 24th minute after England’s Luke Shaw caught a stooping Loïc Négo in the head as he attempted a clearance.

England equalized after 37 minutes when a Phil Foden free kick was flicked on by Tyrone Mings and the ball was turned in by John Stones from close range.

The centerback came close to a second when he headed a corner just wide after an hour while Harry Kane miskicked when well placed in front of goal — the captain’s last contribution before being replaced by Tammy Abraham for the last 15 minutes.

That, and other changes, failed to swing the game England’s way as Gareth Southgate’s experiment of playing Foden, Jack Grealish and Mason Mount together in a miniature midfield proved something of a failure.

Hungary were certainly more energetic and looked more motivated than when they were swept aside 4-0 by England in Budapest last month and Southgate was quick to praise them, while accepting his own side’s shortcomings.

TACTICAL PROBLEM
“Hungary, full credit to them. I thought they caused us a tactical problem. We weren’t fluid and I didn’t think we played at the level that we need to play,” he said.

“We’ll go away and think about the balance of the team a little bit, but I think individually we can do better as well. We made lots of simple mistakes with the ball. Collectively, we did not play at the level we need to.

“I think right across the board from the start we weren’t sharp with our play, gave the ball away. It’s the first time for a long time, but we have to hold our hands up to that.”

The result leaves England top of the group on 20 points ahead of Poland, who beat Albania (15 points) 1-0 away in another match hit by crowd trouble.

Euro 2020 runners-up England are still strong favorites to win the group via their remaining games against Albania and San Marino next month, but have left themselves with work to do.

Hungary, in fourth place on 11 points, need a miracle to have a chance of snatching second place and a playoff berth.

Their entire squad and staff formed a center circle huddle at the end of the game, then stood in front of their supporters — showing their better side after the unpleasant scenes two hours earlier — in a joint rendition of their national anthem, celebrating together as if they had won the World Cup.

England’s players and most of the near-70,000 home fans had already gone by then, but though few will long remember the match, it might prove more useful in Southgate’s World Cup preparations than if it had been a routine victory. — Reuters

Astros blow out White Sox, advance to ALCS

JOSE Altuve slugged a three-run homer, Carlos Correa, Alex Bregman and Michael Brantley each drove in two runs, and the Houston Astros booked a spot in the American League Championship Series (ALCS) for the fifth straight season with a 10-1 trouncing of the host Chicago White Sox in Game 4 of the AL Division Series on Tuesday.

Correa delivered a two-run double in the third inning that put the Astros ahead to stay. Bregman ripped a two-run double one inning later as Houston won the best-of-five series three games to one. Brantley contributed a pair of one-run singles.

Altuve, who went 3-for-5 and scored four runs, turned the game into a laugher with his blast off White Sox right-hander Liam Hendriks in the ninth. He is tied for fourth in postseason history with 19 homers.

The Astros will face the Boston Red Sox in the ALCS. Houston, which has advanced to two of the past four World Series, lost in five games to the Red Sox in the 2018 ALCS.

Houston joins the Oakland Athletics (1971-75) as the lone AL team to reach five straight championship series.

“I think we have good chemistry and some of the guys have good experience being here for five times,” Altuve said afterward on the FS1 broadcast. “We’re playing as a team. We’re a really good team. We’re not trying to be heroes. We’re just trying to win games.”

Martin Maldonado also had an RBI single. Brantley was 3-for-6, Correa was 2-for-4 and Yuli Gurriel was 2-for-5 as Houston racked up 14 hits.

Gavin Sheets went 2-for-4 with a homer for the White Sox, who haven’t won a postseason series since beating the Astros (then in the National League) in the 2005 World Series.

“Obviously, right now, it sucks, it hurts,” Sheets said afterward. “But to have this experience my rookie year, I’m gonna grow from it.”

Houston right-hander Yimi Garcia (1-0) recorded the victory with a perfect fifth inning.

Astros right-hander Lance McCullers, Jr. pitched the first four innings and allowed one run and five hits. He struck out five and walked three.

White Sox left-hander Carlos Rodon (0-1) gave up two runs and three hits over 2 2/3 innings. He struck out three and walked two.

The Astros loaded the bases in the third inning against Rodon as Altuve was hit by a pitch with one out and Bregman and Yordan Alvarez drew two-out walks. Correa followed by lacing a 0-2 fastball for a two-run double to left to give Houston a 2-1 lead.

“I saw he was striking out people with the fastball up and he was yelling and banging his chest,” Correa told FS1. “So I was like, ‘I’m 0-2 right now, bases loaded, the crowd on their feet. He wants to blow a fastball by me so he can bang his chest once again.’

“So I was all over the fastball. I was trying to get on top of it and he threw it. And I capitalized on it, I was ready for it.”

Houston’s Kyle Tucker singled off right-hander Michael Kopech to lead off the fourth and stole second and third. With one out, Maldonado drilled a run-scoring single to center. Altuve followed with a single, and Bregman came up later in the inning and slammed a two-run double to left-center off left-hander Garrett Crochet to make it 5-1.

Brantley had RBI singles in both the sixth and eighth innings as Houston increased its margin to six runs.

“They beat us,” White Sox manager Tony La Russa said. “They played better. We’re disappointed.”

Chicago took a 1-0 lead in the second when Sheets hit a one-out homer to center. Houston’s Jake Meyers (left shoulder discomfort) was injured while leaping in an attempt to catch it and departed the game. — Reuters

Freddie Freeman’s HR sends Braves past Brewers into NLCS

FREDDIE Freeman hammered a tiebreaking homer with two outs in the eighth inning to propel the Atlanta Braves to a clinching 5-4 victory over the visiting Milwaukee Brewers in Game 4 of the National League Division Series (NLDS) on Tuesday.

Freeman’s 428-foot blast to left-center off a slider from Brewers left-hander Josh Hader (0-1) helped the Braves win the series 3-1 and reach the NL Championship Series (NLCS) for the second straight season. Atlanta lost to the Los Angeles Dodgers in seven games in 2020.

“I just saw a pitch up (in the zone) and I was able to get a good swing on it,” Freeman said on TBS of the decisive at-bat. “There was no rhyme or reason to it. I was swinging good all game. I worked on stuff before the game, and I was able to get one out.”

He later added, “I’ve had a lot of cool moments in my career. I think it’s going to top them right here, but hopefully, that’s not the last cool one and I have a couple more in these playoffs.”

Brewers manager Craig Counsell said of the Hader-Freeman matchup, “It was our best against their best, and I don’t think you regret having that situation. That’s how the game works. That’s how it’s supposed to work.”

Freeman went 3-for-5 and Eddie Rosario contributed a two-run single for the Braves, who will face either the San Francisco Giants or the Dodgers in the NLCS. San Francisco held a 2-1 edge in that series entering Game 4 on Tuesday night in Los Angeles.

Rowdy Tellez hit a two-run homer for the Brewers, who were eliminated in the playoffs for the fourth straight season.

“Like we said early on, we had a team to do some damage,” Hader said. “All we can do is just look back on what we did and how the season went, but it is what it is now.”

Tyler Matzek (1-0) pitched a flawless eighth for the Braves and fellow left-hander Will Smith worked the ninth for his third save of the series.

Milwaukee’s Eduardo Escobar led off the ninth with a pinch-hit single to center. Kolten Wong popped up on a bunt attempt before Smith struck out Willy Adames and Christian Yelich to end it.

The Braves played without Jorge Soler, who tested positive for COVID-19. He was replaced on the roster prior to the game by fellow outfielder Cristian Pache.

Atlanta third baseman Austin Riley said of the club’s ability to overcome the loss of its leadoff hitter, “It says a lot of good things about this team. That was a big hit. We’re used to it this year.”

Yelich led off the fifth inning with a single to right against Atlanta right-hander Huascar Ynoa. One out later, Tellez clobbered a first-pitch slider, and the 448-foot blast landed well beyond the center field fence to give the Brewers a 4-2 lead.

The Braves knotted the score in the bottom of the frame. Joc Pederson’s fielder’s-choice grounder with the bases loaded drove in the first run, and Travis d’Arnaud followed with an RBI ground single to right.

Braves right-hander Charlie Morton was charged with two runs and four hits over 3 1/3 innings. He struck out five and walked one.

Milwaukee left-hander Eric Lauer gave up two runs and four hits over 3 2/3 innings. He struck out two and walked two.

The game was scoreless through three innings before both teams tallied twice in the fourth.

Omar Narvaez came up with runners on first and second with one out for the Brewers and delivered a run-scoring single to center to score Avisail Garcia. Right-hander Jesse Chavez replaced Morton and was greeted by Lorenzo Cain’s RBI single to center.

Atlanta loaded the bases with two outs in the bottom of the inning. Immediately after right-hander Hunter Strickland replaced Lauer, Rosario came up as a pinch hitter and lined a tying two-run single to center.

Counsell said postgame, “In the moment, right now, we’re all really disappointed. It’s hard to get past the disappointment right now. It just is.

“In the end, we had big goals. We didn’t quite get there. You win 95 games, it’s a special group and they did accomplish some special things.” — Reuters

Long-time national boxing coach Velasco retires

Long-time national boxing coach Nolito “Boy” Velasco is retiring effective Dec. 31, 2021. — JOHN MARVIN FACEBOOK PAGE

Long-time national boxing coach Nolito “Boy” Velasco is retiring effective Dec. 31, 2021, the Association of Boxing Alliances in the Philippines (ABAP) announced.

In a release, the ABAP said Mr. Velasco, 58, has submitted a letter to the boxing federation, expressing his intention to call it a career as a coach and that he was “looking forward to enjoy my retirement with my family, as I give them the time and effort I missed because of working.”

Mr. Velasco is the older brother of Olympic boxing medallists Roel (bronze, Barcelona ’92) and Mansueto (silver, Atlanta ’96).

The ABAP said it has accepted the coach’s request for retirement in a letter signed by president Ricky Vargas and secretary-general Ed Picson just as it wished Mr. Velasco well in his future endeavors.

Mr. Velasco has been a member of the national boxing team for four decades in various capacities, including as a athlete from 1983 to 1985.

In this year’s Tokyo Olympics, he was part of the coaching staff of the team that gave the Philippines two silver medals (Nesthy Petecio and Carlo Paalam) and one bronze (Eumir Felix Marcial).

Does sustainability please the crowd?

TUMISU - PIXABAY

A major concern in pushing the sustainability agenda is whether it will get funding. But the motivation for funding is whether sustainability “sells,” whether people are willing to pay for sustainability. A nice way to understand this problem is by observing and studying crowdfunding platforms. These are online websites wherein everything from a person struggling from an illness, to an artist looking for backing for a project, to a person looking to do a trip around the world, to students in less fortunate areas needing better school equipment, can be met by someone with a little extra to give and who is happy to support. It taps into the human instinct of altruism, giving without expecting much in return. Nowadays, sustainability projects that cater to recycling, climate change prevention, and biodiversity get a fair share of their backing of crowdfunders. However, my former thesis student, Jade Tissier, and I wondered: What makes crowdfunders select to support one project over the thousands available to them? Is a project with a sustainability orientation more attractive than others, like art related or charity related? We examined this question using a unique database of projects from KissKissBankBank, Europe’s oldest crowdfunding platform. In these next weeks, I will share some findings of this thesis, which won the IESEG Best Sustainability Thesis Award in 2016.

To kick off: what is crowdfunding? Crowdfunding pools together people with innovative ideas on the one hand and people who have some funds to contribute to back these ideas on the other via an efficient internet platform. Often, these people do not know each other yet have common interests. It is an interesting development in financing small ventures or advocacies that either will not qualify for traditional means of equity or debt financing or are in need of additional funds. The recent rise in crowdfunding came about during the 2008 US Presidential election when Barak Obama raised $750 million in funding from small donors via a website. Today, there are around 1,250 crowdfunding platforms worldwide. A recent study by Goldman Sachs mentions that 47% of millennials surveyed have backed or are likely to back a crowdfunding campaign with a growth rate of 112% each year.

Crowdfunding involves two main parties: the beneficiaries of the campaign (the project creator/s) and the individuals willing to contribute, called “funders” or “backers.” The internet is the communication intermediary that links these two parties. Typically, a financial objective is set. If this objective is met then the project goes ahead. If it is not, then either the entrepreneur can keep the funds or these are returned to the backers. The latter “all-or-nothing” model is more common.

There are two distinct investment models: one is “crowd-investing” where campaigners either issue equity to the investors or engage in peer-to-peer (P2P) lending and pay back contributors which provided them with debt. The second, called “crowd-sponsoring,” is either a donation wherein the contributor receives no monetary compensation in return or receives a simple reward, usually the product or service it set out to fund. P2P lending comprises three-fourths of all campaigns whereas rewards and donation crowdfunding account for the next biggest chunk. Given the legal limitations to equity ownership, equity crowdfunding is the least popular. North America is the leading crowdfunding geography having over 50% of all funding volume, followed by Asia (31%), and then Europe (19%).

CAMPAIGNERS’ MOTIVATIONS FOR CROWDFUNDING
Studies in entrepreneurship are clear: the startup stage of a business faces difficulties in accessing capital. These firms lack collateral and information asymmetry that poses a risk to banks and equity investors. Without a proven track record, it is challenging to convince investors of future success, yet such businesses need financing because they drive economies. We know from recent history that these innovative startup firms can end up becoming giant enterprises: the likes of Apple, Microsoft, Airbnb, Facebook, and eBay all began as small projects with their entrepreneurs fumbling for financing.

Crowdfunding is jumping on this trend of taking risks to back the next billionaire, but also to back projects that have a non-financial meaning to a person. Yet apart from a new way to access financial capital, having the intellectual input of the internet’s “crowd” is at the heart of crowdfunding success. The internet promotes openness, participation, and collaboration. In fact, the concept of crowdfunding is rooted in the broader concept of crowdsourcing, which refers to using the crowd to obtain ideas, feedback, and solutions to develop corporate activities. Crowdfunding allows for the possibility of creativity and new ideas to emerge. It also highlights the need for a strong collaboration between the parties involved and is no longer just a source of capital but a new way for “connectivity” in investing. As such, crowdfunding not only provides a platform but importantly increases anonymity of the relationship between the funder and the entrepreneur, and democratizes the financial decision by drawing upon a large number of relatively small contributions.

Finally, crowdfunding is a good and inexpensive marketing platform. Crowdfunding becomes a first contact between the entrepreneurs and the future customers. The campaigner can measure the demand for its product or service, the project’s attractiveness, and gather opinions about the price or the design during the crowdfunding campaign. In rewards-based platforms, the final product is often the reward and is thus an inexpensive way to fund and distribute a prototype. Entrepreneurs also use pre-ordering as a screening device to understand product demand.

Why, however, would random individuals back projects of people they do not even know and whose risks are very high? And the million-dollar question: What attracts funders to select to fund one project over hundreds of thousands of projects currently available to them? We know less about this and need empirical evidence.

(To be continued)

Note: This paper is based on a Masters in Finance thesis at IESEG written by Jade Tissier and supervised by the author. References are available upon request.

 

Daniela “Danie” Luz Laurel is a business journalist and anchor-producer of BusinessWorld Live on One News, formerly Bloomberg TV Philippines. Prior to this, she was a permanent professor of Finance at IÉSEG School of Management in Paris and maintains teaching affiliations at IÉSEG and the Ateneo School of Government. She has also worked as an investment banker in The Netherlands. Ms. Laurel holds a Ph.D. in Management Engineering with concentrations in Finance and Accounting from the Politecnico di Milano in Italy and an MBA from the Universidad Carlos III de Madrid.

Better late than never

PHILIPPINE STAR/ MIGUEL DE GUZMAN

Metro Manila is now considered at “moderate risk” with respect to the spread of the COVID-19 virus, and no longer “high risk,” as the virus’s reproduction rate in the National Capital Region continues to drop. In this line, Metro Manila mayors have already decided to shorten curfew hours in the capital. With this, further easing of restrictions may be expected in the coming days.

In Makati City, the number of active COVID cases have gone down considerably since last month. From an all-time high of 3,298 active cases on Sept. 9, the number has dropped to 733 as of Oct. 12. For the period March 1-Oct. 12, the case count was at its lowest on July 11 at 419. Perhaps by November, we can be back at this level from 733.

Given improvements in the active case count, which is down to just over 82,000 nationwide as of Oct. 12, and assuming the downtrend continues, then maybe we can also anticipate a change in the Alert Level, particularly for Metro Manila, by the end of the month. This can potentially mean a rise in economic activity going towards the Christmas season.

But while this may be good for the economy, we are also now grappling with a fuel price crisis that can dampen activity as it impacts prices. Public transportation is already limited because of COVID-19, and now the public also faces seemingly unending increases in fuel prices. The impact is going to be significant on the cost of transport of goods and people, production, and electricity.

Crude oil supply in the international market is now short relative to demand, as more economies reopen. And oil-exporting countries have decided to limit supply, meantime. Oil and fuel prices have thus gone up significantly. Oil importers like the Philippines are hit with a double whammy, especially when the peso-dollar exchange rate is high. Then, there are local fuel taxes, which have also gone up.

Cycling is an option for some, although maybe not for children, seniors, persons with disabilities, and those physically or financially challenged to buy and use a sturdy, roadworthy bicycle for moving around. Public transportation, if available, remains the most viable option for most. That is, if transport costs can remain reasonable amidst the unnerving hikes in fuel costs.

Already, there is talk of fare increases, and possibly government assistance for the transport industry. Retail fuel prices have been increasing for seven consecutive weeks, prompting senators to ask President Duterte to order a freeze on fuel prices. A bill has also been filed at the Senate to suspend the value-added tax on petroleum products.

An option is to immediately suspend all taxes and duties on oil and fuel products while world oil prices remain high. This way, fuel price hikes can be mitigated, to protect the economy from stalling and to ease the burden of consumers. When world oil prices drop and stabilize, then local taxes can be reimposed. The difficulty with this option is that the government is cash-strapped as it is, and suspending oil taxes will result in a major drop in government revenues.

Of course, these are all stop-gap measures. The long-term solution is to actually wean the country from imported oil and fuel by developing more indigenous or local sources, if any, and by shifting consumption and demand to renewable energy sources. For transportation, one of the options is providing support and incentives for the development of the electric vehicle industry.

It is in this line that I laud the Senate and the House for considering bills on establishing an Electric Vehicle (EV) industry. While a bit late, in my opinion, as we could have done this even before the pandemic hit in 2020, I still believe we are finally taking a step in the right direction. Better late than never.

Among others, the proposed law serves as the runway for an EV industry to finally take off by providing for dedicated parking slots and charging points for EVs; tax incentives for EV manufacturers, entities maintaining charging stations, and research and development centers; exemption from customs duties and value-added taxes for EVs, charging stations, and materials for their assembly; and, establishing an Electric Vehicles Advisory Board to formulate policy encouraging the development and commercialization of EVs.

To date, BusinessWorld reported that the Department of Energy has endorsed an investment project to bring in 20,000 imported vehicles, and is targeting the establishment of up to 5,000 electric vehicle charging stations within five years. Bills on establishing the EV industry are now up for discussion at the bicameral conference committee. I hope the Senate and the House, despite the coming elections, will still find time to pass a unified bill before the end of the year.

Now is the time for interest groups and technical experts to start lobbying lawmakers to immediately act on the proposed law. And to present data and research on how best to craft a law that will result in the greatest good. World oil prices will always be out of our control. The country’s transportation sector will always be at the mercy of oil-exporting countries. Shifting to public and private transport to EV, powered by electricity from renewable sources, is a feasible alternative.

But how can we develop and grow the EV market locally if we do not provide for a suitable legal and regulatory framework for the industry to prosper? Such an industry will need incentives and support to grow. Market forces are not enough to prompt the shift to EV and away from fossil fuel-run transportation. There should be a deliberate and concerted effort to develop the EV industry.

 

Marvin Tort is a former managing editor of BusinessWorld, and a former chairman of the Philippine Press Council

matort@yahoo.com

A well-deserved and well-timed award

WWW.NOBELPRIZE.ORG

The above title is a quote from Vergel O. Santos, veteran journalist of more than 40 years. He and the first Filipino Nobel laureate, Rappler CEO Maria Ressa, and thousands of cause-oriented journalists and Filipinos share the same beliefs on misinformation as a serious threat to democracy.

In an interview conducted shortly after Ressa was named the 2021 Nobel Peace prize winner together with equally courageous Russian journalist, Dmitry Muratov, Ressa said that acknowledging and accepting hard reality and facts and communicating these facts are essential for democracy to thrive.

Ressa, 58, and Muratov, 59, have many things in common — being courageous journalists one of them. Both are exercising their craft in the most difficult of environments that do not consider freedom of expression as a necessary ingredient for governance. In fact, for autocrats, freedom of expression hinders their total dominance and control of society.

Muratov is editor-in-chief of Novaya Gazeta, which the committee to Protect Journalists describes as “the only truly critical newspaper with national influence in Russia today,” according to Reuters.

Both Nobel laureates have been subjected to legal harassment and all sorts of pressures for simply being true to the ideals of serious journalists. Ressa’s legal issues according to various reports, include, among others: alleged Rappler ownership irregularities with the Securities and Exchange Commission (SEC), Court of Appeals (Rappler, Inc. vs. SEC) and Pasig City Regional Trial Court; alleged defamation: Manila Regional Trial court; alleged tax evasion: Pasig City RTC and Court of Tax Appeals.

Ressa spent part of her childhood in the Philippines up to grade four at St. Scholastica’s College, ironically also the alma mater of judge Rainelda Montesa who found Ressa and former researcher Reynaldo Santos guilty of cyber libel charges in June 2020. Out on bail, Ressa will not be able to travel to Norway to accept the award.

Reuters quoted Ressa as having said in a Rappler broadcast after being informed of the award, “I am in shock.” In a separate statement and echoing Santos’s statement we adopted as the column’s title, Rappler said it was “honored” and “astounded” by its CEO being awarded at “a time when journalists and the truth are being attacked and undermined.”

I first met Vergel in 1995 when I had barely warmed my seat as Chairman of the Philippine Sports Commission (PSC). I had recently suspended the then Philippine Tennis Association (PhilTA) and locked up its office at the Rizal Memorial Tennis court indefinitely for its refusal to register with the Securities and Exchange Commission, as required of all National Sports Associations (NSAs) per the law creating the PSC.

To my pleasant surprise, it turned out that a large group of tennis stakeholders disagreed with the stubborn stance of the PhilTA leadership. The group, comprised of tennis parents, weekend enthusiasts, and other parties concerned with the development of the sport of tennis, publicly expressed its support for me by staging a media-covered public protest outside the PSC offices in Vito Cruz (Pablo Ocampo) Ave. The group picketed the PSC office and asked for an audience with the head of the PCC.

As a further expression of its support, the group sent its spokesman to my third-floor office. Soon enough, a gentleman in a tennis outfit brandishing a placard and tennis gear, emerged and introduced himself as “Vergel Santos.” I then recalled the name and remembered him as sports journalist writing mainly about tennis. In his usual articulate manner.

Vergel talked about the issues against PhilTA and insisted that its leadership was remiss its duties of promoting the development of the sport by maneuvers to keep new blood out of the association. It was the usual problem of overstaying leaders refusing to let go. Vergel urged me to stay the course.

As the enlightened sectors of Philippine society reveled at the news of Ressa becoming the country’s first Nobel laureate, we sought the thoughts of Santos, founder of the Center for Media Freedom and Responsibility (CMFR). We have always regarded Santos as one of the country’s noted influential opinion makers. I sought his thoughts on the impact of the award on the forthcoming election. Santos observed, “I don’t know the impact of Maria’s award on the votes for this or that candidate. And it doesn’t really matter much to me at this time. The impact should be on the President. He has brought us to the crossroads between democracy and authoritarianism, between free speech and dissent. There are those who say she doesn’t deserve the Nobel prize. I really don’t care what they say.”

Ted Te, Ressa’s counsel in her legal battles said, “The award of Maria shines a light not only on Maria and Rappler who have been tireless in pushing back against disinformation, authoritarianism, and historical revisionism, but also on the plight of journalists and the state of the press freedom and freedom of expression in the country for the past years. There has been a culture of dissent as well as a continuing state of impunity against those who would speak or seek the truth, journalists like Maria among them. The award comes at a time when that light is much needed.”

Te’s comments echo the common refrain that the Nobel award committee showed impeccable timing in giving the award to both Muratov and Ressa at a time when the volume of misinformation has reached most likely record heights. Ressa claims that a misinformation campaign launched from offshore supported the Marcos’ historical revisionism and others in power. The campaign, instigated by a foreign power, clogged social media as early as September 2020 as part of these parties’ 2022 campaign. One is reminded of Trump’s relentless organized lying that is part of his 2024 comeback that, however, continues to undermines democracy.

In complete contrast to these blatant lies commissioned under profitable financial arrangements, sincere commendations on behalf of Ressa continue to pour in. One such heartwarming comment comes from Rappler’s Sydney-based Happy Feraren. Happy, daughter of La Salle classmate Bongo Feraren, texts in jubilation, “She is my integrity rockstar. Very inspiring to work under her.”

Truly, expressions of joy and genuine solidarity, not hate, anger and envy.

 

Philip Ella Juico’s areas of interest include the protection and promotion of democracy, free markets, sustainable development, social responsibility and sports as a tool for social development. He obtained his doctorate in business at De La Salle University. Dr. Juico served as Secretary of Agrarian Reform during the Corazon C. Aquino administration.

False positives

PIXABAY

WHEN being tested for COVID-19 before a trip, even a domestic one to a resort, nothing can be worse than getting a “false positive.” You may be virus-free, but the test says you’re not. And the following day, another test may show a negative result. And yet, the prepaid vacation to the beach is scrapped and hard to untangle when you are required to go on a self-imposed quarantine because of the first test.

The reproduction rate of the virus, which is tracked daily, shows the number of positive cases for the day that have been added to the outstanding level since the start of tracking the numbers in March of 2020. The rise and fall of this daily number drive the pandemic alert levels (formerly designated as Q statuses) for specific areas. Another tracked statistic is the “positivity” rate that measures the number of positives over those being tested. How many of these positives are false?

This is not to start a medical debate or question the numbers, only a reminder that testing protocols are not as infallible as they seem. Always, the watchword is — better to be safe than sorry.

False positives can go undetected for a long time. In life too, we encounter them.

In virtual meetings, it is hard to determine support for a project, especially one that entails unexpectedly high costs that need to be shared by the participants. The search for sponsors is simply a way of shifting the funding problem. Eventually, the project drifts into a simple case study — let’s give it some more thought. The positive support gradually fades, along with the project. (We’re still looking for funding.)

Businesses like restaurants, travel agencies, hotels, office buildings, and malls that are directly affected by restricted mobility and limitations on seating capacity have had their false positives. Announcements of an easing of restrictions can quickly be rescinded even as preparations for regular service are getting readied.

Politicians already declaring as candidates for the top posts may seem to have positive traits, especially for the “Anybody-But-D” (ABD) crowd. They seem fiery, even exchanging insults and ridicule with the Chief Insulting Officer (CIO). But a review of their not-too-distant pronouncements show collaboration and support. Social media can dig up declarations of loyalty to the now-spurned leader. Their positives turn out to be false.

There are also present supporters of this administration who used to attack the top for human rights violations, and now serve as apologists and defenders of their former target. Let’s just call them hypocrites. The word is from the Greek “hypokrites” for actor or stage player.

All politicians staunchly declare that they want to discuss the issues and not engage in personal attacks. (Let’s take a positive perspective on what the country needs, and not engage in name-calling.) Our politics tend to be all personal. Scandals and anomalies are at the top of the narrative themes. So, candidates are defined by who they are against more than what they are for. The positive appeal for an exchange of ideas is simply false.

True negatives are easier to deal with.

A negative list is short. A list of foods to avoid in a diet to achieve good health or to lose weight or contraband items you are not supposed to bring in to a country, like illegal drugs, bullets, or fresh fruits.

It is not surprising that the best approach to politics is going negative. Opposition research tries to surface weaknesses and vulnerabilities of critics and opponents. This is the only option of one whose past actions are not defensible.

Squid tactics are employed by attacking the attacker or simply changing the topic to alert levels and the now no-longer-necessary facial shields. Squids employ this blurring tactic of releasing inky liquid to hide and make their getaway.

Economic recovery and the coming elections are tied together. The prospect of a new beginning for the country is hopefully a true positive.

 

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

Clean energy investments need to triple by 2030 to curb climate change — IEA

STOCK PHOTO

LONDON — Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) said on Wednesday.

“The world is not investing enough to meet its future energy needs … transition-related spending is gradually picking up, but remains far short of what is required to meet rising demand for energy services in a sustainable way,” the IEA said.

“Clear signals and direction from policy makers are essential. If the road ahead is paved only with good intentions, then it will be a bumpy ride indeed,” it added.

The Paris-based watchdog released its annual World Energy Outlook early this year to guide the United Nations COP26 climate change conference, now less than a month away.

It called the Glasgow, Scotland meeting the “first test of the readiness of countries to submit new and more ambitious commitments under the 2015 Paris Agreement” and “an opportunity to provide an ‘unmistakable signal’ that accelerates the transition to clean energy worldwide.”

In recent weeks, power prices surged to record levels as oil and natural gas prices hit multi-year highs and widespread energy shortages engulfed Asia, Europe and the United States. Fossil fuel demand is also recovering as governments ease curbs to contain the spread of coronavirus disease 2019 (COVID-19).

The IEA warned that renewables like solar, wind and hydropower along with bioenergy need to form a far bigger share in the rebound in energy investment after the pandemic.

Renewables will account for more than two-thirds of investment in new power capacity this year, the IEA noted, yet a sizeable gain in coal and oil use have caused the second largest annual increase in climate change-causing CO2 emissions.

The IEA said a faster energy transition will better shield consumers in the future, because a commodity price shock would drive up costs for households 30% less in its most ambitious Net Zero Emissions by 2050 (NZE) scenario versus in its more conservative Stated Policies Scenario (STEPS).

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Still, the leap necessary to make good on pledges in the 2015 Paris Agreement to cap the rise in temperatures to as close as possible to 1.5 degrees Celsius above pre-industrial times remains vast.

Fossil fuels coal, natural gas and oil made up nearly 80% of world energy supply in 2020 and renewables just 12%.

To keep that rise near 1.5 degrees, the IEA’s NZE prediction envisions those fossil fuels shrinking to just under a quarter of the mid-century supply mix and renewables skyrocketing to just over two-thirds.

If the world stays on its current track outlined by STEPS scenario, temperatures will jump 2.6 degrees Celsius by 2100.

The IEA foresees a peak to oil demand in all its scenarios for the first time, in the mid 2030s in the STEPS forecast with a very gradual decline but in the NZE forecast plateauing within a decade and dropping further by nearly three-quarters by 2050.

Doubling down on the agency’s starkest warning yet on the future of fossil fuels that it made in a May report, the IEA said its NZE picture envisioned lower demand and a rise in low emissions fuels making new oil and gas fields beyond 2021 unnecessary.

However, it did say new oil fields would be required in its two most conservative scenarios and provided tips on mitigating their climate impact like reducing methane flaring.

“Every data point showing the speed of change in energy can be countered by another showing the stubbornness of the status quo,” the IEA warned.

“Today’s energy system is not capable of meeting these challenges; a low emissions revolution is long overdue.” — Reuters

Automation that combines data insights and conversational AI is improving customer experience 

By Patricia Mirasol 

The customer experience journey is being enhanced nowadays through technologies that leverage data analytics and conversational automation, or the use of software robots as an extension of human customer service.  

Conversational automation results in higher engagement among customer agents, which in turn results in higher satisfaction among customers, said Ravi Saraogi, co-founder and president for Asia Pacific of Uniphore, a conversational AI (artificial intelligence) company.  

“Over the years, what got missed out was the focus on customer service,” he said on an Oct. 13 Zoom call with BusinessWorld. “A lot of investments were made in the backend, but hardly anything in the front end.” 

The right customer experience, Mr. Saraogi added, not only helps an enterprise retain the customer, but also propels the business forward. 

A 2018 study by multinational technology firm IBM reported that roughly 50% of first calls to call centers go unresolved. The study also reported that 56% of millennials have switched from one company to another because of underwhelming customer service.  

Uniphore’s platform uses artificial intelligence, natural language processing (which makes human language intelligible to machines), and robotic process automation (which frees employees from doing repetitive tasks) to analyze a call from beginning to end, as well as guide customer service agents on how to handle complex conversations.  

“Call centers have now transformed themselves into contact centers. It’s not a call process anymore, but a multichannel omni-present system that is contact-enabled,” Mr. Saraogi said, adding that what has not changed is “how a conversation leads to a solution for the consumer.”  

Because the company’s platform is also equipped with authentication and quality assurance features, it can be utilized remotely by clients with work-from-home staff. 

Uniphore was incubated in Madras, India, in 2008 with the aim of bridging the gap between humans and machines, and ensuring that machines understand and provide real answers to human queries. It now has offices in five countries, and counts Sitel and First Source as some of their global clients. In the Philippines, Uniphore works with companies in the telecommunications and business process outsourcing sectors.

Mr. Saraogi said that delivering the right productivity tools enables an agent to focus on the customer.  

“A happy agent leads to a happy customer. That’s the belief we have,” he added.

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