Home Blog Page 6006

BoI says Chinese pharmaceutical firm eyeing to invest in PHL  

A CHINESE biopharmaceutical firm is eyeing to invest in vaccine clinical trial projects and vaccines manufacturing in the Philippines, according to the Board of Investments (BoI).  

In a statement on Tuesday, BoI said it met with Yisheng Biopharma Co., Ltd. officials on May 11 to discuss the companys plans to pursue investment interests in clinical trials and for the co-development/manufacturing and marketing of vaccines with a local company.    

Yisheng Biopharma is planning for its second visit to the country to conduct face-to-face meetings and site visits on potential manufacturing sites/facilities with possible local partners, and work on the preparations for the clinical trials of its vaccines,the BoI said.    

The company already has an ongoing engagement with a known local pharmaceutical company and will be meeting with other local firms for possible partnerships on the commercialization of its vaccines, it added.    

Yisheng is a company that has operations in China, United States, and Singapore. It is engaged in discovering, developing and commercializing bio therapeutics for cancers and infectious diseases using its novel PIKA immunomodulation technology. Revin Mikhael D. Ochave 

Metro Baguio agency gets Congress approval

THE ESTABLISHMENT of an agency for the development of Metro Baguio composed of Baguio City and five neighboring towns in the province of Benguetwas ratified in the Senate on Tuesday.  

The Metropolitan Baguio City, La Trinidad, Itogon, Sablan, Tuba, and Tublay Development Authority (MBLISTTDA) will be in charge of coordinating and regulating both medium- and long-terms plans for the mountain area north of the capital Manila.  

It will be similar to the development bodies in clustered urban areas such as Metro Manila and Metro Cebu, and the newly-formed Metro Davao.   

Its tasks include public service delivery, traffic management, and land use planning.   

Under the reconciled version of the bill, MBLISTTDA must formulate a master plan to serve as a framework for the development of the area and submit this to the National Economic and Development Authority (NEDA).  

It must also coordinate with NEDA and the finance department to interface with foreign assistance agencies to obtain financial support, grants, and donations in support of its programs and projects. Alyssa Nicole O. Tan 

NBI arrests 2 for illegal recruitment, estafa 

NBI FACEBOOK PAGE

TWO suspects for large-scale illegal recruitment and estafa were arrested on Tuesday, the National Bureau of Investigation (NBI) said.  

The arrests stemmed from complaints filed by victims who claimed that the supposed recruiters offered employment abroad, collected fees, but failed to deploy them.   

One complainant said the recruiters demanded a P32,000 processing fee and a P12,500 training fee for a job as a cleaner in Dubai.  

An entrapment operation in Makati City by agents of the NBI Anti-Human Trafficking Division led to the arrests. 

The NBI noted that the suspects posed as representatives of a manpower agency duly registered with the Philippine Overseas Employment Administration (POEA).  

The two suspects were presented before the Office of the Senior State Prosecutor and the Department of Justice for inquest proceedings. 

Also on Tuesday, the NBI said it seized counterfeit products worth over P60 million in three separate operations in Manila, Pasay, Caloocan, and the provinces of Tarlac and Pangasinan. 

Among the items seized were fake Gillette razors, Victorias Secret and Pantene products, and fake Butiki insecticide spray.  

NBI Officer-in-Charge Director Eric B. Distor reminded the public that counterfeit products may be dangerous due to lack of quality control and testing that legitimate products undergo. John Victor D. Ordoñez

Golden State Warriors favored to win versus Celtics in finals

ONE week before the regular season opened, the Golden State Warriors were 12-to-1 to win the NBA Finals.

Now, at the start of Finals week, the Warriors are favored to beat the Eastern Conference champion Boston Celtics and claim a fourth National Basketball Association (NBA) title under Steve Kerr.

Some could be holding even larger potential payoffs on underdog Boston if they took advantage of major sportsbooks installing the new-look team as a 50-1 longshot.

The series underdog at +130 in the 2022 Finals, the Celtics are 3.5-point underdogs in Game 1, scheduled for Thursday at Chase Center in San Francisco.

Just 10 days ago, Boston was still 10-to-1 to win the Finals at DraftKings, BetMGM and Caesars, and 12-to-1 at PointsBet.

A $250 bet before the Eastern Conference finals on the Celtics to win the title would pay $2,500 if Boston can pull the upset.

Warriors star Stephen Curry is the favorite to win Finals MVP at +110, ahead of Jayson Tatum (+175) and Jaylen Brown (+1000) of the Celtics. — Reuters

Menstrual cramps derail Chinese teen Zheng’s French Open dream in loss to Poland’s Świątek

QINWEN Zheng of China during day nine of French Open, also known as Roland-Garros 2022, second Grand Slam tennis tournament of the season on May 30 at Roland-Garros stadium in Paris, France. — REUTERS

CHINESE teenager Qinwen Zheng suffered with menstrual cramps as she lost to Poland’s Iga Świątek in the French Open fourth round on Monday after taking a set off the world number one.

Zheng, 19, looked on track for a major upset when she claimed the opener in a tie-break before Świątek took control to win 6-7(5), 6-0, 6-2 for her 32nd straight victory.

Zheng said she had no pain during the opening set but took a medical time out at 3-0 down in the second, having her back massaged on court before going to the locker room and returning with her right thigh strapped.

“Yeah, the leg was also tough. That, compared to the stomach, was easy… I cannot play my tennis, (my) stomach was too painful,” Zheng, ranked 74 in the world, told reporters.

“It’s just girls things, you know. The first day is always so tough and then I have to do sport and I always have so much pain in the first day. And I couldn’t go against my nature.

“I wish I can be a man on court, but I cannot in that moment… I really wish I can be (a) man (so) that I don’t have to suffer from this.”

“If I don’t talk about today, I’m happy with my performance (on) this run. And to play against the number one in the world, I felt I really enjoyed (it) on the court,” she added.

“If I don’t have my stomach (pain), I think I could enjoy more, like to run better and to hit harder, to give more effort on court. It’s a pity that I couldn’t give what I want to give today.

“I just want (it so that) next time I play against her, I (am in) perfect shape.” — Reuters

Cilic downs Russian second seed Medvedev to set up Rublev clash

PARIS — Croatian Marin Cilic did not put a foot wrong as he crushed Russia’s world number two Daniil Medvedev 6-2, 6-3, 6-2 in a lopsided contest on Monday to return to the French Open quarterfinals after a gap of four years.

The 2014 US Open champion, seeded 20th, dominated proceedings from the start and finished off the contest in an hour and 45 minutes to reach the last eight stage on the Parisian clay for the third time in his career.

Medvedev came into the match having won all three previous meetings against the 33-year-old Croatian but cut a sorry figure under the lights on Court Philippe Chatrier in their first contest on clay.

“It was absolutely a fantastic match from the first point to the last,” Cilic said in his interview on court.

“I enjoyed the atmosphere, enjoyed the night session here, played incredible tennis, one of the best matches of my career from start to finish.”

Such was the Croatian’s domination that he did not face a break point and will next meet another Russian in seventh seed Andrey Rublev for a place in the semifinals.

Cilic played aggressively, pinning Medvedev behind the baseline and advancing to the net at every opportunity as the Russian failed to find any zing behind his flat groundstrokes in the cooler night conditions.

Unable to find a solution to Cilic’s pinpoint winners, Medvedev kept shaking his head and also poured out his frustration at the chair umpire over what he felt was very little time to rest during changeovers.

Medvedev’s form on the night was more reminiscent of his four consecutive first-round exits at Roland Garros before he made the quarterfinals last year.

Cilic won four consecutive games from 2-2 to bag the opening set in 31 minutes and another break in the sixth game was enough for him to take the second set.

Australian Open finalist Medvedev, who won the 2021 US Open, then took a lengthy toilet break but served a double fault on his first point after returning to court.

Another double fault in that opening game led to Medvedev getting broken.

The 26-year-old’s problems with double faults and unforced errors continued as Cilic broke him again to jump into a 4-0 third-set lead.

There was no way back for Medvedev, who briefly rose to world number one earlier this year, and Cilic converted his second match point when the Russian found the net with a backhand return.

“When I’m playing my best tennis, everything is working out, from the serve, return, movement. These last 10-15 days were great for me — great training, great matches, very consistent tennis,” Cilic added.

“Against guys like Daniil, you have to be able to sustain that high level throughout the match and if you give him a chance, he’s going to be back. So I was really focused to keep going and definitely extremely pleased with that.” — Reuters

Świątek extinguishes Zheng’s fire to reach French Open last eight

PARIS — Iga Świątek survived a big scare as she advanced to the French Open quarterfinals by beating Chinese teenager Qinwen Zheng 6-7(5), 6-0, 6-2 for her 32nd consecutive victory on Monday.

The world number one, gunning for a second title in three years at Roland Garros, showed rare signs of nerves as she let a comfortable lead slip through her hands before steamrolling her opponent after Zheng suffered a thigh problem.

Poland’s Świątek, who will next face American 11th seed Jessica Pegula, is unbeaten since last February, claiming titles on clay in Stuttgart and Rome.

The 2020 champion is bidding to become the fourth player since 2000 to lift the Suzanne Lenglen Cup multiple times after Justine Henin, Serena Williams and Maria Sharapova.

The 20-year-old is on the longest unbeaten run in the women’s tour since Serena bagged 34 victories in succession in 2013.

“She’s playing amazing tennis,” Świątek said of Zheng. “I was surprised with some of her shots so congratulations to her. It’s a tough tournament. I’m happy I could come back after a frustrating first set.

“I’m proud of myself that I’m still in the tournament.”

Świątek broke for 2-0 and kept her advantage throughout the first set although she rushed things at time.

The Pole wasted three set points at 5-3 and two more at 6-5 with Zheng forcing a tiebreak after throwing the kitchen sink at her.

Świątek moved 5-2 up in the breaker and it seemed Zheng’s resistance would finally end, only for the Chinese, nicknamed “Fire” at her tennis academy in Spain, to go for her shots and win the remaining five points to take the set.

Zheng took a medical time out at 3-0 down in the second set, having her back massaged on court before going to the locker room and coming back with her right thigh strapped.

The treatment did not seem to help much as she dropped eight games in a row.

She picked herself up to fight back in the third, but the Świątek express train was already going full speed and the Pole wrapped it up when Zheng’s backhand sailed long. — Reuters

Erik Spoelstra: Overturned 3 was shocking, but not why Heat lost

THOUGH he avoided blaming a controversial call for his team’s loss in Game 7 of the Eastern Conference finals, Miami Heat coach Erik Spoelstra admitted he was “in shock” that the National Basketball Association (NBA) replay center took three Miami points off the board during the third quarter of Sunday’s game and said it will provide a “case study” to the league.

Heat guard Max Strus knocked down a 3-pointer with 11:04 left in the third quarter of their 100-96 loss to the visiting Boston Celtics. It cut the Heat’s deficit at the time to 56-54.

But less than three minutes later in game time, the announcement came in saying the NBA’s replay center in New Jersey overturned the basket because Strus’ left foot was barely touching the sideline, making him out of bounds.

“The fact that it happened, three to four, five minutes in game time, that does change the context of how you’re playing,” Spoelstra said after the game. “We were starting to gain some momentum. You feel like it’s a seven-, eight-point game and you look up and it’s a 13-point game, and there’s no other explanation for it other than it’s gone back to the league offices.

“You feel like if it happens like that, it should happen immediately and you can adjust accordingly.”

The longtime Heat coach suggested the NBA will reexamine that decision during future league meetings.

“I’m sure they will look at that, and we’ll probably be the case study for it,” Spoelstra said. “I’m okay if it happens the way it used to. They would look at it at the next foul or break and look at it and notice it, but it was probably 10 minutes of real time — somebody check on that.

“I’m not crying or whining. Come on, we got beat. This was two competitive teams going at it. We had a crack at it at the end. Even as uneven as the game seemed, we had a crack at it. Our guys are never going to, like, not think we have a chance at it.”

Spoelstra insisted more than once that the call was “not the reason we lost,” crediting Boston for taking control early. But the momentum the Heat gained during the third quarter was slashed when they had to watch their score drop by three.

“That was so unusual for us to be grinding and then start to get some momentum, and then it was like, oh, hey, by the way, take away that 3, with no explanation,” Spoelstra said. “That’s the human side of it. That’s not the complaining side of it. Who knows if that would have changed anything, anyway.” — Reuters

Man City not done with transfer business after signing Haaland

MANCHESTER City may have signed Erling Haaland and have Julian Alvarez available from River Plate for next season but the Premier League champions are only just getting started on strengthening the team, chairman Khaldoon Al Mubarak has said.

City reached an agreement to sign Norway striker Haaland from Borussia Dortmund on July 1, with the 21-year-old having scored 86 goals in 89 games for the German side.

Argentina international Alvarez — who scored six goals for River Plate in a Copa Libertadores game last week — was signed on a 5-1/2-year deal in January and the 22-year-old will remain at the Buenos Aires side on loan until July.

“I can confirm that there will be more players coming in. We are looking to strengthen the team in the areas that we need strengthening,” Al Mubarak told the club’s website.

“As you know, every season some players leave, and then we have to continuously refresh the team. Again, we will always look at improving and strengthening.

“I think we’ve made two very important additions already, but I anticipate we’ll be doing a couple more. We’ll try to go as fast as we can, but you know how the market goes — it’s not always entirely in our control.” — Reuters

Argentina’s Di Maria to retire from international soccer after World Cup

BUENOS AIRES — Argentina’s Angel Di Maria will retire from international football after this year’s World Cup in Qatar, the former Paris Saint-Germain (PSG) and Manchester United forward said on Monday.

“After this World Cup, it will be time, there are a lot of lads who are at international level, who are getting better and little by little they are going to show that they are at this standard,” Di Maria told reporters ahead of Argentina’s match against Italy on Wednesday at Wembley.

Di Maria, 34, played 121 times for the national side and scored 24 goals.

He scored the winner last July as Argentina beat Brazil 1-0 to win the Copa America and lift their first major title in 28 years.

Di Maria will leave PSG this summer and he has yet to decide where he will play his club football next season but he said continuing at international level “would be a bit selfish after so many years and having achieved what I wanted to achieve.”

“After (Qatar) I’ll certainly be taking a step sideways.” — Reuters

Poor choice

In the wake of the Heat’s deflating loss in Game Seven of the Eastern Conference Finals, not a few quarters have seen fit to question leading scorer Jimmy Butler’s decision to go for the trey with still 16.7 seconds to go in the fourth quarter. The black and red were down just two points, and he could have pushed the ball straight to the hoop in transition for the tie instead of pull-up for an open, but still lower-percentage, attempt. And because he missed, and they lost, the second-guessing became even more pronounced, if not justified.

Certainly, it didn’t help that Butler’s career percentage from deep was far below the National Basketball Association’s norm, or that he was hitherto one of three in threes for the outing. It was a poor choice, said the naysayers; even if he had made it, there was still more than enough time for the Celtics to retaliate — the exact same scenario that supposedly made a basket closer to the rim with a lot of time on the clock an iffy proposition. Bottom line, the critics argued, you put yourself in the best position to succeed, and then prevent them from doing the same.

It goes without saying, of course, that Butler himself was comfortable taking the shot, his poor clip from beyond the arc notwithstanding. More importantly, he had the support of his teammates and Heat coach Erik Spoelstra, who thought of it as “a good, clean look, better than anything we could have designed.” At the same time, there was no doubting that he earned the right to seal their fate one way or the other; his heroic stand in Game Six and singular effort heading into the fateful moment the other day were precisely why they had a chance to steal the series in the first place.

Perhaps Butler was too tired to soldier on, having played 46 minutes in the penultimate contest and every single second in the rubber match. Perhaps he saw the weary faces of those around him as well, and thus figured the Heat could not survive another five minutes against the decidedly superior Celtics. In any case, he did what he did; after others put up the points to trim a seemingly insurmountable 13-point deficit to two, he thought it was his time to shine. And so he rose. As he disclosed in his post-mortem, “my thought process was go for the win, which I did. Missed the shot, but I’m taking that shot. My teammates like the shot that I took, so I’m living with it.” So is everybody else throughout a long offseason.

 

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.

China unveils stimulus policies to support economy

REUTERS

BEIJING — China’s cabinet unveiled a package of 33 measures covering fiscal, financial, investment and industrial policies on Tuesday to revive a pandemic-ravaged economy, saying it will inspect how provincial governments implement them.

The stimulus package, which was flagged by China’s State Council in a routine meeting last week, underscores Beijing’s shift toward growth, after draconian COVID-19 control measures pounded the economy and threatens Beijing’s 5.5% growth target for the year.

To revive investment and consumption, China will promote healthy development of platform companies, which are expected to play a role in stabilizing jobs, according to the measures.

Platform companies are also encouraged to make breakthroughs in areas including cloud computing, artificial intelligence and blockchain technologies, the State Council said, the latest sign that China is easing a crackdown on the sector.

China will also expand private investment, accelerate infrastructure construction and stimulate purchases of cars and home appliances to stabilize investments, according to the measures.

In terms of monetary and financial policies, China will boost financing efficiency via capital markets, by supporting domestic firms to list in Hong Kong, and promote offshore listings by qualified platform companies.

The State Council also vowed to further reduce real borrowing costs, and strengthen financial support for infrastructure and major projects.

To enhance fiscal support to the economy, China will accelerate local government special bond issuance and cash support for firms that hire college graduates.

Authorities will also provide tax credit rebates to more sectors and allow firms in industries hit hard by COVID-19 curbs to defer social security payments, the State Council said.

Other measures include policies to ensure energy and food security, and stabilize supply chains. — Reuters