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Gilas Pilipinas girls team sweeps Pool A with outright semis berth

GILAS Pilipinas girls youth team. — FIBA

UNDEFEATED Gilas Pilipinas girls youth team bolstered its Division A promotion bid with an outright semifinals berth in the 2022 FIBA U16 Women’s Asian Champion in Amman, Jordan.

The Filipina teens completed a sweep of Pool A highlighted by a 94-65 win against Samoa over the weekend to advance straight to the Final Four of the Division B tilt.

Kristian Yumul led the way with 22 markers, five assists and two steals in only 20 minutes of action as the Gilas girls scored a 29-point victory.

Naomi Panganiban (14) and Princess Villarin (13) threw in help for the wards of coach Brian Rosario and Julie Amos.

Gilas girls youth team previously smothered Indonesia, 104-68, before besting Syria with a close 92-86 victory.

Already in the semis, Gilas will enjoy a one-day breather as second and third-seeded teams scramble for the last two Final Four tickets.

Gilas will face either Kazakhstan or Samoa anew tomorrow while Pool B leader and also semifinalist Lebanon awaits the winner between Syria and Iran.

A championship by the Nationals in Division B would catapult them to the elite Division A featuring Australia, Japan, South Korea, New Zealand and India.

Gilas is eyeing the same route taken by India in 2017 after ruling the Division B to join the prestigious Division A, which is also ongoing with four tickets to the FIBA U17 World Cup at stake.

Meanwhile, the Gilas Pilipinas women’s, under the watch of program director Pat Aquino, for its part is already in the Division A of the senior division with Australia, South Korea, China, Japan, New Zealand, Chinese Taipei and India. — John Bryan Ulanday

Top Gun: Maverick soars past $1B, overtakes Doctor Strange 2 as the highest-grossing movie of the year globally

A SCENE from the film Top Gun: Maverick.

LOS ANGELES — Paramount’s all-American blockbuster Top Gun: Maverick is still flying high at the box office, crossing the coveted $1 billion over the weekend.

With those ticket sales, the movie has overtaken Disney’s Marvel adventure Doctor Strange in the Multiverse of Madness ($943 million) as the highest-grossing movie of the year at the global box office.

Prior to this weekend, the sequel to Tom Cruise’s 1986 action flick Top Gun was already the highest-grossing movie of the year at the domestic North American box office, with revenues currently at $521 million. Along with $484.7 million at the international box office, Maverick has grossed $1.006 billion worldwide.

ELVIS VS MAVERICK
In an unusually close box office battle, Elvis and Top Gun: Maverick have tied for first place in North America, with each film bringing in $30.5 million over the weekend.

The two films were locked in a close battle all weekend as the King of Rock and Roll took the No. 1 spot on Friday and dropped to second place on Saturday. The final results will be tallied on Monday.

Regardless of which film comes out on top, it’s a strong result for both. For Elvis, a $30 million debut is impressive for a movie catering to older audiences. For Maverick, it’s almost unheard of for a movie to generate $30 million in its fifth weekend of release.

Overall, it’s an encouraging weekend at the box office as five movies are putting up sizable results. Four — Elvis and fellow newcomer Universal’s Blumhouse thriller The Black Phone, as well as holdovers Top Gun: Maverick and Jurassic World Dominion each grossed $20 million or more, while a fifth, Disney’s Pixar film Lightyear, came close with $17 million.

Moreover, those ticket sales wouldn’t be far off from pre-COVID projections. Those healthy box-office returns come as audiences have reportedly started to feel safer than ever going to their local cinema. According to a study by the National Research Group, 88% of moviegoers are “very or somewhat comfortable” going to the movies — marking a new all-time high. Around a year ago, that percentage was closer to 59%.

Baz Luhrmann directed Elvis, a kaleidoscopic take on the 20th century icon. Austin Butler stars as the king of rock and roll in Elvis, which chronicles the performer’s meteoric rise to fame through the eyes of his manager, Colonel Tom Parker (played by Tom Hanks). Audiences dug the film, awarding it an A- CinemaScore.

David A. Gross, who runs the movie consulting firm Franchise Entertainment Research, called Elvis a “risky proposition,” one that seems like it will pay off.

“The music is dated, the character is not directly familiar, and the lead actor is unproven on the big screen. But critics and audiences are responding,” Mr. Gross said. “This is the Baz Luhrmann show, a music, dance and sex appeal spectacular — it’s a hit.”

The nostalgia-fueled sequel to 1986’s Top Gun has benefitted greatly from stellar word-of-mouth, which has resulted in minuscule week-to-week drops. Now in its fifth weekend of release, Maverick added $30.5 million from 3,948 venues between Friday and Sunday, pushing its domestic total to $521 million. It was already the highest-grossing movie of the year in the US and Canada, but after this weekend, it’s now the highest grossing movie at the global box office as well with $1.006 billion to date. Notably, it’s the first movie of the year and only the second in COVID times (following Sony’s Spider-Man: No Way Home with $1.9 billion) to fly past the $1 billion mark. — Reuters

Lavia, Italians dominate Chinese in straight sets for third place finish

TEAM Italy finished in third place in VNL Philippines. — VOLLEYBALL WORLD
TEAM Italy finished in third place in VNL Philippines. — VOLLEYBALL WORLD

ITALY closed out the way it started Week 2 of the Volleyball Nations League (VNL) on Philippine soil — with a smashing victory.

Drawing strength from Daniele Lavia’s 22-point eruption, the Italians utterly destroyed the great wall of the Chinese in a 25-21, 25-18, 25-19 rout that concluded what had been a memorable VNL edition at the Smart Araneta Coliseum Sunday night.

Mr. Lavia was just totally volcanic with his hits that included 16 crisp, missile-like spikes that propelled the Gli Azzurri to third place with 19 points on six wins in eight outings.

It included a 3-1 effort at the Big Dome with its only defeat coming at the hands of Philippine crowd darling Japan.

Giulio Pinali provided Mr. Lavia the needed support and chipped in 15 points.

“I’m proud of my team and we will focus on the next games,” said setter and captain Simone Giannelli, who contributed three blocks. “It was good atmosphere. We are happy because we won.”

Mr. Gianelli said they learned from their five-set defeat to the Ryuji Nippon.

“We made a lot of mistakes, we have to grow together,” he said.

The European champions seek to sustain their strong effort as they are bracketed in Gdansk, Poland in Week 3.

The Chinese sputtered to No. 13 with six points.

PLDT is a presenting partner while The STAR, Quezon City headed by Mayor Joy Belmonte, Maynilad, Philippine Sports Commission and the Philippine Olympic Committee are among those backing this ultra-competitive 16-country event. — Joey Villar

PHL AirAsia to increase fuel surcharge starting July 1

BW FILE PHOTO

LOW-COST airline Philippines AirAsia, Inc. will be implementing a fuel surcharge increase starting July 1 due to the rising fuel costs, its top official said.

“All airlines right now are following the CAB (Civil Aeronautics Board) with regards to the fuel surcharge increase,” Philippines AirAsia Chief Executive Officer Ricardo P. Isla said in an ABS-CBN News Channel interview.

“The fuel surcharge that we have to charge will be between P350 to about P1,050,” he added.

He said the airline will try to balance the higher fuel surcharge with promotions for both domestic and international flights.

“Fuel covers about 30% to 35% of our costs. We just have to be very cautious on how we will be implementing this based on the CAB guidelines,” he noted.

Whether this will be sufficient for the company to offset the fuel costs, he said: “There is a regular review with all airline companies, namely with the Air Carriers Association of the Philippines. As part of this regular review, we will be looking at the possibility of another increase depending on the impact of the fuel price increase.”

In June, airlines were allowed to collect fuel surcharge under Level 7 or the highest level in a fuel surcharge matrix approved by the CAB.

Under Level 7, the fuel surcharge per passenger ranged from P201 to P769 for domestic flights in June, higher than the P108 to P411 fuel surcharge for domestic flights in May. — Arjay L. Balinbin

Mapua tests the mettle of unbeaten CSB today

UNBEATEN Lady Blazers face with equally tough Lady Cardinals. — SYNERGY/GMA NETWORK, INC.

COLLEGE of St. Benilde (CSB) sets out to sustain one of its best performances in its NCAA history as it clashes with an equally tough Mapua University in today’s Season 97 volleyball action at the Paco Arena.

After four impressive victories, the Lady Blazers have shown they are capable of gaining a crack at their second championship after their breakthrough triumph seven years back.

And their numbers speak for themselves as they either lead or are in the top three in statistical categories like spiking (first), blocking (third), digging (second), setting (first) and receiving (first).

Against the Lady Cardinals, who have dangerously lurked behind the league’s big guns with a solid 3-1 card, CSB coach Jerry Yee warned his charges they must come prepared and ready.

“Have to be prepared especially against their middles, try to execute properly,” said Mr. Yee, who was referring to Mapua’s most lethal weapon in Alyanna Nicole Ong, who leads all the league’s middle blockers in stats.

While CSB’s players will not win produce an MVP winner this season, it has shown cohesiveness anchored on the efficient and workmanlike foursome of Jhasmine Gayle Pascual, Jade Gentapa, skipper Francis Mycah Go and the flamboyant Michelle Gamit.

Meanwhile, Letran (1-4) and Arellano U (4-1) collide at 2:30 p.m. — Joey Villar

On and off screen, Aquaman’s Jason Momoa fights for world’s oceans

JASON MOMOA in a scene from the film Aquaman. — IMDB.COM

CARCAVELOS, Portugal — In superhero blockbuster Aquaman, popular Hollywood actor Jason Momoa plays the role of protector of the deep, but with the world’s oceans under threat in real life, he is also taking the fight off-screen.

“Without a healthy ocean life, our planet as we know would not exist,” Mr. Momoa said with the sea behind him as he took part in an event on a Portuguese beach ahead of the United Nations Ocean Conference in Lisbon, which starts on Monday.

Around 7,000 people, from heads of state to environmental activists, are expected to attend the conference, which was postponed from 2020 to this year due to the coronavirus pandemic.

Dozens of youth activists from various countries clapped and cheered as Mr. Momoa, who will soon become the UN Environment Program advocate for Life Below Water, spoke about the problems facing the world’s oceans.

“We must seek to right the wrongs we have done against our children and grandchildren, turn the tide on our irresponsible stewardship and build momentum for a future where humanity can once again live in harmony with nature,” said Mr. Momoa, 42.

Mr. Momoa is known for his role as Arthur Curry, a half-human, half-Atlantean character in DC Comics’ Aquaman, which takes viewers to the underwater world of the seven seas. Aquaman 2 is scheduled for release in March 2023.

UN Secretary-General António Guterres joined Mr. Momoa at the event and apologized on behalf of his generation for not doing enough at the time to tackle climate change, save the ocean and protect biodiversity.

“Even today we are moving too slowly… we are still moving in the wrong direction,” Mr. Guterres said, also pointing a finger at the fossil fuel industry. “It’s time for these behaviors to be seriously condemned.”

The ocean covers 70% of the planet’s surface, generating over half of the world’s oxygen and absorbing 25% of all carbon dioxide emissions but climate change is increasing its temperature and causing sea levels to rise.

Eleven million metric tons of plastic ends up in the ocean each year, a figure that’s expected to triple by 2040 unless production and use of throwaway are reduced, multiple scientific studies show. — Reuters

CTA affirms canceled P12-M assessment on Kuwait Airways

THE Court of Tax Appeals (CTA) affirmed the cancellation of the tax assessment of Kuwait Airways Corp. for 2016 representing its alleged overpaid income tax worth P12 million.

In a ruling on June 16, the CTA full court said the commissioner of internal revenue (CIR) failed to present new arguments to give the appeal merit and found no reason to overturn its ruling.

“The arguments he presented in this petition for review, lifted verbatim from the answer, the memorandum, and the motion for reconsideration he filed in CTA Case No. 9874, were duly considered and exhaustively discussed in the assailed decision and resolution,” according to the ruling penned by CTA Associate Justice Lanee S. Cui-David.

“Based on the evidence on record and the oft-repeated arguments of the parties, we find that respondent was able to establish its entitlement to the claimed tax credit certificate.”

The tax court noted the airline company sufficiently prove its entitlement to a tax refund by submitting verified certificates of creditable tax withheld at source forms.

The petitioner is a foreign corporation primarily engaged in the air transport services industry.

In a ruling dated May 21 of last year, the CTA Second Division had partially granted the airline company’s petition for a tax credit certificate of the reduced amount of P11.99 million from its initial P12.16 million claim.

The tribunal agreed with its prior ruling as it said Kuwait Airways is entitled to a 1.5% preferential tax rate or exemption as an international carrier, as provided by a treaty entered into by the Philippines and Kuwait.

It ruled the company made an erroneous overpayment of its income tax when it applied the 2.5% tax rate instead of the 1.5% preferential tax rate under the treaty.

Under the National Internal Revenue Code of 1997, international carriers doing business in the Philippines are generally subject to 2.5% on its gross Philippine billings.

“While every citizen must honestly pay the right taxes, the government has a corollary duty to implement tax laws in good faith; to discharge its duty to collect what is due to it, and to justly return what has been erroneously and excessively given to it,” said the CTA.

“Considering all the foregoing, we see no compelling reason to depart from the ruling of the court in division.” — John Victor D. Ordoñez

David Harbour on Stranger Things season finale: ‘You’ll be blown away’

DAVID HARBOUR and Millie Bobby Brown in Stranger Things. — IMDB.COM

LONDON — For fans eagerly awaiting the season four finale of hit Netflix show Stranger Things, cast member David Harbour has a clear message: “You’ll be blown away.”

The sci-fi drama, set in the 1980s, returned in late May with a first volume of episodes showing a new supernatural horror emerging from the Upside Down alternate dimension and besetting the fictional Indiana town of Hawkins.

Fans have lavished praise on the new season, which four weeks after its release remains in the top spot on Netflix’s English TV List with 102.26 million hours viewed, according to the streaming platform.

The last two episodes, with a finale running at more than two hours, are released on July 1.

“If you’ve enjoyed season four up until this point, get ready because the (last two episodes) are the best thing that makes what you’ve seen look like chump change compared to it,” Mr. Harbour, who plays fan favorite character Hopper, told Reuters.

“It’s a masterpiece, it’s beautiful, it’s epic… but it’s also on a scale and a scope that almost gets silly and it’s like wondrous, almost manga-esque… You’re going to be blown away.”

Mr. Harbour, who said season five would start filming next year, is currently in London for new play Mad House, a dark comedy part inspired by his own experiences with mental illness.

Like his young co-stars, Stranger Things has catapulted him into the global spotlight since premiering in 2016.

“It’s a zeitgeist. I’ve never been a part of anything like this but it has been seven years of this, so I’ve gotten used to what it means and my place in it,” he said.

“It’s very gratifying to be a part of something that’s touched… so many young people… I always thought I’d maybe have some career of art films that would maybe appeal to old people and suddenly… I can’t walk past a middle school without being harassed so it’s a very strange thing for me to be a part of.” —  Reuters

Los Angeles Dodgers rally, knock off Atlanta Braves in 11 innings

LOS Angeles Dodgers left fielder Chris Taylor (3) hits a RBI double against the Atlanta Braves in the 11th inning at Truist Park. REUTERS — REUTERS

CHRIS Taylor came off the bench to get three hits, including the go-ahead RBI double in the 11th inning, to help the Los Angeles Dodgers rally late and beat the Atlanta Braves 5-3 on Sunday.

Taylor doubled in a run with one out in the 11th and scored on Trea Turner’s single to center field to spark a two-run rally against reliever Darren O’Day (1-2).

The winning pitcher was Craig Kimbrel (1-3). Brusdar Graterol earned his first save.

Los Angeles won two of the three games in the weekend series and won the season series 4-2.

The Dodgers took the lead in the top of the 10th when Freddie Freeman led off with an RBI double against Will Smith, but the Braves answered with a run in the bottom half on Matt Olson’s leadoff RBI single against Kimbrel.

The Dodgers forced extra innings when they erased a 2-0 deficit in the ninth inning by scoring twice against Atlanta closer Kenley Jansen, who suffered his fourth blown save. After the former Los Angeles reliever struck out the first two batters, the Dodgers put together consecutive singles from Gavin Lux and Taylor, who both scored when Trayce Thompson singled to right on a ball deflected by Olson, the first baseman. A diving catch by Michael Harris II on Turner’s liner to center field prevented further damage.

The Braves broke the scoreless tie in the sixth inning. Travis d’Arnaud led off with a double, went to third on Austin Riley’s grounder and scored on Marcell Ozuna’s two-out single to center.

Atlanta added a run in the seventh inning against Alex Vesia when Riley hit a bases-loaded sacrifice fly that scored Harris, who had stolen third base.

Both starters pitched well, but neither received a decision. — Reuters

Gov’t partially awards T-bills as rates rise further

BW FILE PHOTO

THE GOVERNMENT partially awarded its offer of Treasury bills (T-bills) on Monday at higher rates as investors remained cautious on expectations of further tightening by the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).

The Bureau of the Treasury (BTr) raised just P13.95 billion from its offer of T-bills on Monday, even as total bids reached P27.176 billion, nearly double the P15-billion program.

Broken down, the Treasury raised P5 billion as programmed from its offer of 91-day securities as the tenor attracted P14.93 billion in bids. The average rate of the tenor climbed by 9.6 basis points (bps) to 1.855 from the 1.759% fetched at the previous auction. Accepted rates ranged from 1.8% to 1.91%.

The BTr also made a full P5-billion award of the 364-day debt papers, with total tenders reaching P6.75 billion. The average rate of the one-year tenor climbed by 17.6 bps to 2.63% from the 2.454% seen previously, with the government accepting offers ranging from 2.45% to 2.874%.

Meanwhile, the government partially awarded its offer of the 182-day debt papers, raising just P3.95 billion versus the P5-billion program, even as bids reached P5.5 billion. The average rate of the six-month tenor jumped by 26.8 bps to 2.4% from the 2.132% seen at last week’s auction, with the yields on the awarded bids at the 2.23-2.5% band.

At the secondary market prior to Monday’s auction, the 91-, 182- and 364-day T-bills were quoted at 1.6262%, 1.9347%, and 2.4186%, respectively, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

National Treasurer Rosalia V. de Leon said in a Viber message to reporters that the BTr made a partial award of its T-bill offer as investors asked for higher returns after the BSP’s decision to hike rates by another 25 bps last week.

Ms. De Leon said investors wanted some cushion, with the BSP expected to continue raising borrowing costs to “let steam out of inflationary pressures.”

“Both the BSP and the Fed are expected to unleash another 25 bps [in rate hikes], if not 50 bps for the BSP in August, and a follow-up 75 bps for the Fed,” she added.

The first trader likewise said there was upward pressure on rates due to the BSP’s decision, noting that the bids seen for the longer six-month and one-year T-bills were just above the P5-billion offers for the tenors.

A second trader said in an e-mail that the rise in T-bill yields was expected after the BSP’s move, with the shorter 91-day tenor attracting bulk of bids at Monday’s auction.

The trader added that the BTr partially awarded the six-month tenor to cap the increase in its average yield.

“Overall, good participation from the market but still ways off from the volume we are seeing. We should be back to those once CPI (consumer price index) abates,” the second trader said.

The BSP last week raised benchmark interest rates by 25 bps for a second straight meeting to cool rising prices and continued to signal gradual normalization, even as it said it is prepared “to take all necessary policy action” to bring inflation within its target over the medium term.

The central bank raised its average inflation forecast for this year to 5% from 4.6% previously, well above its 2-4% target. For 2023, the BSP now sees inflation averaging 4.2% from 3.9% previously and then slow to 3.3%, back within target, in 2024.

Inflation rose to 5.4% in May, the highest in three and a half years, amid the continued rise in food and fuel prices.

Meanwhile, a week after hiking rates by 75 bps, which was the biggest increase since 1994, Fed Chair Jerome H. Powell told a US Congress hearing on Thursday that the US central bank is committed to bringing down inflation despite risks of a downturn, but said it is not trying to engineer a recession.

Markets are pricing in another 75-bp hike at the Fed’s July meeting as several Fed officials have said they would support more aggressive hikes as inflation remains high.

Monday’s T-bill auction was the last one for the month. The government raised just P62.414 billion via the shorter-termed debt papers against its P75-billion program for June after a number of partial awards due to rising rates.

On Tuesday, the BTr will offer reissued seven-year Treasury bonds with a remaining life of six years and 10 months at its last auction for June.

The government borrows from local and external sources to help fund a budget deficit capped at P1.65 trillion this year, equivalent to 7.6% of gross domestic product. — T.J. Tomas

RE firms urged to join next green energy auction rounds

RENEWABLE ENERGY companies offered to deliver up to 1,966.93 megawatts (MW) of indigenous power during the government’s first round of auction of green energy, the Energy department said.

In a statement on Monday, the Department of Energy (DoE) said its green energy auction held on June 17 had a success rate of 98.3465%, with the companies committing to deliver renewable energy from 2023 to 2025 at a price that is lower than or equal to the prices set by the Energy Regulatory Commission.

The DoE said that since the auction will be conducted on a yearly basis, RE developers that failed to win in the first round bid, and those that were not able to submit offers may participate in subsequent auction rounds.

The initiative is under the DoE’s Green Energy Auction Program (GEAP) in which mandated participants of the Renewable Portfolio Standards (RPS) are assisted in procuring their energy requirements through a competitive process.

RPS requires electricity sellers to supply a minimum percentage of customer demand with eligible sources of renewable energy (RE). GEAP selects the RE facilities that offer the most competitive prices of electricity.

The competitive process will result in a so-called “green energy tariff” that becomes the benchmark price of RE to reflect the current value of electricity.

Based on the DoE’s auction results, a total of 1,511.18 MW of renewables are to be delivered in Luzon, while 313.2 MW are set for the Visayas and 142.55 MW for Mindanao.

The department said that marginal offers that will exceed the threshold capacities, per technology, per grid, were given up to 20% of their offered capacities as stated in the terms of reference for GEAP.

“Otherwise, the bidder may either opt to reduce its offered capacity without modifying its bid price or withdraw from the auction without forfeiting its [bid bond],” it said.

These winning bids were ranked based on offers from the lowest to the highest bid price and stacked corresponding to the respective RE technology per grid. The auction was conducted through an electronic bidding program.

Rediscover the art of history paintings in an online talk

Filipinos Face Foreign Invaders — GATEWAYGALLERY.ARANETACITY.COM

“HISTORY PAINTINGS: Uso Pa Ba?” an online lecture which aims to reintroduce the overlooked craft and discipline of history painting, and reiterate its role, especially in the postmodern times, is set to be held via Zoom on June 29, from 2-3:30 p.m. The webinar will be headlined by museum curator and published writer Gari Apolonio. He will guide the viewers through the rich history of the genre, its development and how it is produced and seen in the contemporary period. He will also tackle the movement in relation to art appreciation and identity formation. He will provide an in-depth discussion about the landmark exhibit “Siningsaysay: Philippine History in Art,” currently at the Gateway Gallery, of which he is a full-time curator. “History Paintings: Uso Pa Ba?” is free and open to the public as part of the Design Foundation of the De La Salle-College of Saint Benilde’s online education programs. Interested participants may register through this link: https://docs.google.com/forms/d/e/1FAIpQLSfsAfNNW6Tif4QPW5RIYXepK26wCgUcJW8UXlMRN5Jo7ogxGA/viewform.

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