Home Blog Page 6484

Hawks escape 26-point hole, shock Sixers in Game 5

TRAE Young scored a playoff-career-high 39 points and the Atlanta Hawks rallied from a 26-point, second-half deficit to stun the host Philadelphia 76ers (109-106) on Wednesday and take a 3-2 series lead in the Eastern Conference semifinals.

Game 6 in the best-of-seven series will be played Friday at Atlanta.

The Hawks trailed by 18 points entering the fourth quarter before outscoring the 76ers 40-19 in the final period. Atlanta never led until Young made three free throws with 1:26 to go for a 105-104 advantage.

John Collins added 19 points and 11 rebounds for the Hawks. Danilo Gallinari contributed 16 points, and Lou Williams had 15.

Philadelphia’s Joel Embiid finished with 37 points, 13 rebounds, five assists and four blocked shots but missed two free throws with 10.2 seconds remaining with the Sixers trailing 107-104.

Sixers guard Seth Curry produced a playoff-career-high 36 points, including seven 3-pointers. Ben Simmons continued to struggle from the free throw line, going 4 of 14, and wound up with eight points.

When Curry dropped in his third 3-pointer, the Sixers led 51-31 with 5:25 left in the second quarter.

Embiid soon connected on a tough turnaround jumper from the corner for a 58-34 lead with 2:07 left.

The Hawks struggled early with their halfcourt offensive execution thanks in large part to suffocating defense by the Sixers.

Young led the Hawks with 14 first-half points, but the Hawks trailed 62-40 at halftime. They shot just 13 of 42 (31 percent) before the break to the 76ers’ 23 of 43 (53.3 percent).

Embiid knocked down his first eight shots and had 24 points and 10 rebounds by half time. It was a major upgrade from Game 4, when Embiid went 0-for-12 in the second half.

Atlanta scored four quick points to open the third before the Sixers responded with an 8-0 run for a 70-44 advantage.

The Sixers maintained a large lead and were on top 87-69 at the end of the third. Young missed a deep 3-point attempt from the top of the key in the waning seconds of the third.

Gallinari hit a trey to cap a 15-2 run and the Hawks closed within 87-76 with 10:15 left in the fourth.

Philadelphia soon came back with consecutive baskets from Embiid and Curry and pushed ahead 93-78 with 8:37 remaining.

As the Sixers’ offense stagnated, Collins banked in a 3-pointer with 5:25 to go as the Hawks cut the deficit to 100-92.

Young was fouled by Matisse Thybulle on a 3-point try with 86 seconds left and made all three free throws to put Atlanta ahead by one. Gallinari hit a jumper on the Hawks’ next possession for a 107-104 lead to complete a 13-0 run. — Reuters

Hornets’ LaMelo Ball voted NBA Rookie of the Year

CHARLOTTE Hornets guard LaMelo Ball was named National Basketball Association (NBA) Rookie of the Year on Wednesday, becoming the third player in franchise history to capture the honor, joining Larry Johnson (1991-92) and Emeka Okafor (2004-05).

Ball, 19, received 84 first-place votes and earned 465 total points from a global panel of 99 sportswriters and broadcasters.

Ball was among a group of three finalists for the award, along with Sacramento Kings guard Tyrese Haliburton and Minnesota Timberwolves guard Anthony Edwards.

Edwards received the other 15 first-place votes and finished second with 309 points. Haliburton finished third with 114 points.

While Ball said he expected to win the award, the honor “is probably something I’m never going to forget.” He added it further fuels his motivation to improve next season, according to the Myrtle Beach Sun News.

“Definitely next season, I want to come in with this little boost and pretty much looking forward to next season now. That’s what we’re all working out for. That’s what we’re all here for. Pretty much just trying to get better every day,” he said. The team is in Charlotte for offseason workouts.

Ball, whose older brother Lonzo plays for the New Orleans Pelicans, took an unconventional route to the NBA, playing in Australia and Lithuania instead of US colleges.

The third overall pick in last year’s draft by Charlotte, Ball filled up the scoresheet with 15.7 points per game, 6.1 assists, 5.9 rebounds and 1.6 steals. A wrist injury limited him to only 51 games (31 starts).

Coming back from a fractured right wrist in late March that cost him 21 games gave him a boost, one that benefited the team as well, he said. He finished with 15.0 points, 6.0 assists and 5.7 rebounds per game over the Hornets’ final 11 games, as they finished 10th in the Eastern Conference and qualified for the play-in game.

“I felt like me coming back helped that much more. But I don’t like missing games and just want to help my team win,” he said.

Overall, Ball silenced critics who questioned his long-range ability, connecting on 35.2 percent of his 3-point attempts.

Edwards, 19, who put up 14.9 points per game before the All-Star break, scored 23.8 points per game the rest of the way to finish at 19.3 in 72 games (55 starts). The No. 1 overall pick in 2020, he stepped it up in his final eight games, shooting better than 40 percent from 3-point range and scoring 27 points per game.

Haliburton, 21, averaged 13 points and 5.3 assists and hit 40.9 percent on his 3-point tries in 58 games (20 starts). — Reuters

Early reopening

To say that All-Stars are dropping like flies through the second round of the National Basketball Association Playoffs would be an exaggeration. Injuries are, after all, part and parcel of competition. On the other hand, there can be no discounting the correlation between the quick turnaround to the current campaign and marquee names being sidelined with greater frequency than had previously been recorded.

To be sure, strict COVID-19 protocols leading to the forced sidelining of otherwise-healthy vital cogs haven’t helped. The regular season was littered with instances of lineups suddenly changing due to the failure of players to adhere to safety measures designed to prevent the spread of the virus. The good news is that the league managed to avoid the worse-case scenario of an outbreak in light of its unbending application of rules. The bad news is that it likewise had to deal with the offshoots.

Under the circumstances, it’s not without irony that spectators have slowly been allowed entry into hoops arenas even as the principal subjects of their attendance are hard-pressed to stay on the court. From Anthony Davis to James Harden to Kyrie Irving to Joel Embiid to Donovan Mitchell to Mike Conley, Jr., required time away from the team has led to repercussions. And the same will hold true for Chris Paul and Kawhi Leonard, arguably the brightest lights of the postseason thus far.

There’s no value to rehashing the reasons only two and a half months separated the 2019-20 and 2020-21 seasons. Franchise owners and honchos, beginning with commissioner Adam Silver, firmly believed that the schedule, already truncated, represented the best chance for the NBA to maximize revenues. And, lest the players forget, they, too, signed off on the rapid reopening of competition.

At some point in the not-too-distant future, there will be a reckoning of the costs and benefits of the soon-to-be season that was. Meanwhile, fans and favorites alike have no choice but to accept reality. And while the current version of the product seems diminished relative to previous iterations, it’s also fair to contend that the league’s stakeholders can’t have everything, and that something is better than nothing.

 

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 launches crewed spacecraft Shenzhou-12 in historic mission

JIUQUAN – China launched a spacecraft on Thursday carrying three astronauts to part of a space station still under construction for the longest stay in low Earth orbit by any Chinese national.

A Long March 2F rocket transporting the Shenzhou-12, or “Divine Vessel”, bound for the space station module Tianhe blasted off at 9:22 a.m. Beijing time (0122 GMT) from the Jiuquan Satellite Launch Center in northwestern Gansu province.

Shenzhou-12 is the third of 11 missions – four of which will be crewed – needed to complete China’s first full-fledged space station. Construction began in April with the launch of Tianhe, the first and largest of three modules.

The astronauts Nie Haisheng, 56, Liu Boming, 54, and Tang Hongbo, 45, are to work and stay on Tianhe, the living quarters of the future space station, for three months.

During their sojourn on the cylinder-like Tianhe, slightly bigger than a city bus, the three men will test the module’s technologies including its life-support system.

The men will also be monitored for how they fare in space physically and psychologically for an extended period of time. An upcoming mission to the space station will last six months.

“This will be the first crewed flight in the space station (construction) phase, and I’m lucky to be able to have the ‘first baton’,” Nie told reporters in Jiuquan a day before the launch.

The veteran astronaut has been hailed by his team as a bastion of stability and a teacher figure who constantly challenges others with tough questions.

“As long as we have him in our hearts, we have nothing to fear,” fellow astronaut Wang Yaping, who is part of the Shenzhou-12 backup team, told state media previously.

“In our crew, elder brother Nie is like the needle that stills the sea,” she said.

Liu Boming, like Nie, was from the first batch of astronauts selected in the 1990s for China’s space programme.

Known for his intellect, Liu is often addressed by his colleagues as “Little Zhuge”, the renowned military strategist who lived in China two millennia ago.

On the Shenzhou-7 mission in 2008, Liu famously used a crowbar to pry open the hatch after it refused to open.

Former air force pilot Tang Hongbo, 45, was from a later batch of astronauts, and trained for more than a decade before being selected for his first spaceflight on Shenzhou-12.

“I’ve waited for 11 years, and finally I’m ready, and I can contribute my strength,” Tang told reporters on Wednesday.

Since 2003, China has launched six crewed missions and sent 11 astronauts into space, including Zhai Zhigang, who carried out China’s first space walk ever on the 2008 Shenzhou mission. – Reuters

Far apart at first summit, Biden and Putin agree to steps on cybersecurity, arms control

GENEVA – U.S. President Joe Biden and Russian President Vladimir Putin agreed on Wednesday to begin cybersecurity and arms control talks at a summit that highlighted their discord on those issues, human rights and Ukraine.

In their first meeting since he took office in January, Biden asked Putin how he would feel if a ransomware attack hit Russia’s oil network, a pointed question making reference to the May shutdown of a pipeline that caused disruptions and panic-buying along the U.S. East Coast.

While Mr. Biden stressed that he did not make threats during the three-hour meeting, he said he outlined U.S. interests, including cybersecurity, and made clear to Putin that the United States would respond if Russia infringed on those concerns.

Both men used careful pleasantries to describe their talks in a lakeside Swiss villa, with Mr. Putin calling them constructive and without hostility and Biden saying there was no substitute for face-to-face discussions.

They also agreed to send their ambassadors back to each other’s capitals. Russia recalled its envoy after Mr. Biden said in March that he thought Mr. Putin was a “killer.” The United States recalled its ambassador soon after.

Mr. Putin said on Wednesday that he had been satisfied by Mr. Biden’s explanation of the remark.

But there was no hiding their differences on issues such as human rights, where Mr. Biden said the consequences for Russia would be “devastating” if jailed Kremlin critic Alexei Navalny died, or cyberspace, where Washington has demanded Moscow crack down on ransomware attacks emanating from Russian soil.

“I looked at him and said: ‘How would you feel if ransomware took on the pipelines from your oil fields?’ He said: ‘It would matter,'” Mr. Biden told reporters at an unusual solo news conference, itself an illustration of the tensions between the two nations.

The query referred to a cyberattack that closed the Colonial Pipeline Co system for several days in May, preventing millions of barrels of gasoline, diesel and jet fuel from flowing to the East Coast from the Gulf Coast.

Mr. Biden also vowed to take action against any Russian cyberattacks: “I pointed out to him that we have significant cyber capability. And he knows it.”

 

‘THIS IS NOT ABOUT TRUST’

Speaking to reporters before Mr. Biden, Mr. Putin dismissed U.S. concerns about Navalny, Russia’s increased military presence near Ukraine’s eastern border and U.S. suggestions that Russians were responsible for the cyberattacks on the United States.

He also suggested Washington was in no position to lecture Moscow on rights, batting away question about his crackdown on political rivals by saying he was trying to avoid the “disorder” of a popular movement, such as Black Lives Matter.

“What we saw was disorder, disruption, violations of the law, etc. We feel sympathy for the United States of America, but we don’t want that to happen on our territory and we’ll do our utmost in order to not allow it to happen,” he said.

He also seemed to question the legitimacy of arresting the rioters who attacked the U.S. Capitol on Jan. 6, seeking to stop Mr. Biden’s certification as president after he beat his predecessor, Donald Trump, in the November election by over 7 million votes.

Mr. Biden said any comparison between what happened on Jan. 6 and the Black Lives Matter movement was “ridiculous.”

U.S.-Russia relations have been deteriorating for years, notably with Russia’s 2014 annexation of Crimea from Ukraine, its 2015 intervention in Syria and U.S. charges – denied by Moscow – of meddling in the 2016 election won by Trump.

Neither side gave details on how their planned cybersecurity talks might unfold, although Mr. Biden said he told Mr. Putin that critical infrastructure should be “off-limits” to cyberattacks, saying that included 16 sectors that he did not publicly identify.

“We need some basic rules of the road that we can all abide by,” Mr. Biden said he had told Mr. Putin.

Mr. Biden said he raised human rights issues because it was in the “DNA” of his country to do so, and also because of the fate of U.S. citizens jailed in Russia.

Mr. Putin said he believed some compromises could be found, although he gave no indication of any prisoner exchange deal.

Mr. Putin, 68, called Mr. Biden, 78, a constructive, experienced partner, and said they spoke “the same language.” But he added that there had been no friendship, rather a pragmatic dialogue about their two countries’ interests.

“President Biden has miscalculated who he is dealing with,” said U.S. Republican Senator Lindsey Graham, who is close to Trump. He called it “disturbing” to hear Mr. Biden suggest that Mr. Putin cared about his standing in the world.

Trump was accused by both Democrats and some Republicans of not being tough enough on Putin, particularly during a jovial 2018 meeting in Helsinki between the two leaders.

This time, there were separate news conferences and no shared meal.

Both Mr. Biden and Mr. Putin said they shared a responsibility, however, for nuclear stability, and would hold talks on possible changes to their recently extended New START arms limitation treaty.

In February, Russia and the United States extended New START for five years. The treaty caps the number of strategic nuclear warheads they can deploy and limits the land- and submarine-based missiles and bombers to deliver them.

A senior U.S. official told reporters that Biden, Putin, their foreign ministers and interpreters met first for 93 minutes. After a break, the two sides met for 87 minutes in a larger group including their ambassadors.

Mr. Putin said it was “hard to say” if relations would improve, but that there was a “glimpse of hope.”

“This is not about trust, this is about self-interest and verification of self-interest,” Mr. Biden said, but he also cited a “genuine prospect” of improving relations. – Reuters

Market Research: Your business partner in making sense of these uncertain times

As cliché as Heraclitus’ words were, it’s even more true now more than ever: the only thing permanent in life is change. The Covid-19 pandemic has indeed changed every aspect of human life: the way we think, work, and the way we do business. Ready or not, the world is adapting to the ever-changing “new normal” in this Quarantine Age.

For marketers and brand owners, uncertainty can quickly turn into confusion, amidst the many moving parts and hurdles we need to go through to reach the light at the end of this seemingly unending tunnel: infection rate surges,  extended lockdowns, the global battle to acquire vaccines (and ironically, against vaccine hesitancy), among other things. And before confusion turns into anxiety as the world enters another crossroad in this pandemic, it maybe worth your while to read the crossing sign: stop, look and listen. When things seem to go haywire, the best way to untangle is to go back to basics. Start by listening to your target market.

What really does the overused term “new normal” mean, and what does it mean for your business? Needless to say, it comes with challenges, but changes also come with opportunities. Now, more than ever, market research plays a crucial role in making sense of it all. In fact, the ability to make timely data-driven decisions by being equipped with real-time actionable insights may prove to be your best ally in keeping your brand afloat in these challenging times. If used strategically, it may even help grow your business despite the challenging economic climate. But in a time of isolation, physical distancing, and aversion to anything that can lead to super-spreader events, how is market research even possible?

This pandemic has changed the way things are done. Businesses are forced to embrace work-from-home set-ups, court cases are heard through video-telephony platforms and even kids are adapting to online learning classes. Market research is no exception given its very dynamic nature, quickly adapted to changing consumer habits, technology advancements, and evolving market landscapes. By leveraging on innovation and technology, such as mobile applications, social media engagement dynamics, and cloud-based big data analytics solutions, best practices have been quickly established to ensure that the new way of doing things is just as reliable and effective (and in some ways, even more, cost and time-efficient, becoming less logistically demanding with faster turn-around times), while still hinging on key market research principles.

The pandemic has also presented an opportunity for market research to test its muscles to rapidly adapt to changes in how market research initiatives are planned, monitored, and completed. The ongoing pandemic forces companies and research agencies around the world to significantly alter how market research is done in accordance with how brands adapted and changed their tactics and communication plans with the intent of securing consumers with ever-changing habits and behavior.

Quantitative studies or surveys can now be effectively deployed to a pre-profiled online market research panel, that is well-representative of the target market. The pandemic has further accelerated digitalization and even forced technically challenged individuals and households to go online, as part of the new normal. Standard market & UAI studies, brand health monitoring and even hybrid versions of product, concept and ad tests, post-launch evaluations, and even mystery shopper studies have been successfully done through mobile-based or online data collection, with reliable results, as attested by experienced marketers who gave it a shot.

As for qualitative studies, focus group discussions, even in-depth interviews, have been successfully facilitated online through Zoom and other similar platforms, depending on the requirement, coupled with best practices in security, confidentiality, participant qualification processes, to keep the integrity of the studies in check. Of course, Murphy’s Law can take effect when technology comes into play, with its own set of challenges and connectivity glitches from time to time. With this in mind, again, go back to basics: always have backup plans. This may mean planning for respondent buffers, conducting technical checks prior to the actual sessions, stricter qualification screeners, among other practices, to mitigate risks to your study design and methodology, given the limitations of the “new normal”.

Let’s also note that the success of these methodologies also heavily relies on the research tools and design and the experience of those facilitating the studies. Defining who are the target market profiles you want to ask is crucial, but keep an open mind and be cognizant in examining the results of the studies for new possibilities, such as new markets to expand to or new markets that are just within arm’s reach for your taking in the new market landscape. Market research may help uncover those eureka moments or inversely, the sobering realizations about the changing landscape of your market, as brought about by the pandemic.

Now that the world is on reset, it may even be a good thing to ask: how relevant is your brand nowadays? It’s tempting to easily dismiss non-essential category brands, but you’ll never know unless you ask: maybe, it’s still relevant, but in a different way nowadays. Or if it really isn’t as relevant anymore, how can you pivot to make it still relevant to the market?

Market research should also help you diagnose the current market stance, determine or track trends in consumer behavior: how consumers choose, buy and consume products. It is imperative for businesses to monitor these shifts and unlock new trends to serve, as foundations of short-term and long-term strategies. It is also necessary to validate, calibrate and re-assess existing plans and create strategies that complement the current habits of consumers.

The changes brought about by the pandemic certainly mean shifts in consumer behavior, and understanding these changes by being in touch with consumers (and even adapting to changes in doing so) may prove to be more rewarding than just “survival” in these tough times. More so, it may even prove to be transformational in further strengthening your brand in the longer term, way beyond this crisis, which we all hope to be over soon.

Sizzling heat wave blankets U.S. Southwest for third day

LOS ANGELES – Much of the western United States baked for a third day on Wednesday under a punishing heat wave that has set temperature records, prompted health warnings and strained power grids.

Although a shift in the weather has provided some relief to northern states, including Montana and Idaho, the worst was still to come for California and parts of the Southwest, National Weather Service meteorologist Eric Schoening said.

“We’re in a long-duration heat wave across the Western U.S.,” Schoening said. “Across the desert Southwest extending into California we’re still ramping up the temperatures throughout the rest of the week.”

Salt Lake City, Utah, on Tuesday tied its all-time high temperature since record-keeping began in 1894, at 107 degrees Fahrenheit (42 degrees Celsius). Phoenix tied a record for this date at 115 degrees and Needles, California, in the Mojave Desert near the border of both Nevada and Arizona, hit 121 degrees, also tying a daily record.

The National Weather Service has issued excessive heat warnings across the U.S. West, warning that such conditions can be dangerous, even fatal. No deaths had been reported from the brutally hot weather as of Wednesday afternoon.

“Try not to spend too much time outside during the hottest part of the day. Wear light clothing, stay hydrated,” Schoening said, adding that residents should be “keeping an eye on pets, checking on the elderly, not leaving anyone, including kids or pets in hot cars.”

 

WILDFIRE DANGERS

The weather service also issued red flag warnings of high fire danger in Arizona, California, Nevada and Utah. Major wildfires were burning in Colorado and Arizona.

Wildfires scorched more than 6,500 square miles (17,000 square km) of land in 2020, destroying hundreds of Californian homes during a particularly fierce fire season.

The unusually severe late-spring heat wave was the result of a high-pressure ridge that built over southwestern deserts, weather service meteorologists say, and could not be blamed directly on global warming.

“But studies show that as the climate changes and it gets warmer, we will see more of these anomalous events over time,” Schoening said.

The brutal heat triggered a surge in electricity demand as residents cranked up air conditioners and fans. Texas and California, the two most populous U.S. states, urged energy conservation.

California’s grid operator issued a “Flex Alert” for Thursday evening, telling residents to turn off unneeded appliances and office equipment between 5 p.m. and 10 p.m. and thermostats higher.

California and Texas both imposed rolling blackouts over the last year to avoid a power system collapse, California due to the heat in August 2020 and Texas in February 2021 after a deep freeze that left millions without heat.

Much of the U.S. Southwest is also in the grip of a drought that has cut hydropower supplies, leaving rivers running dry and prompting ranchers to sell livestock.

The Electric Reliability Council of Texas (ERCOT), which operates most of the state’s power system, projected demand would break the June record, set on Monday, in the coming days. – Reuters

Which COVID vaccine is best? Here’s why that’s really hard to answer

STOCK PHOTO

With the rollout of COVID-19 vaccines accelerating, people are increasingly asking which vaccine is best?

Even if we tried to answer this question, defining which vaccine is “best” is not simple. Does that mean the vaccine better at protecting you from serious disease? The one that protects you from whichever variant is circulating near you? The one that needs fewer booster shots? The one for your age group? Or is it another measure entirely?

Even if we could define what’s “best”, it’s not as if you get a choice of vaccine. Until a suite of vaccines become available, the vast majority of people around the world will be vaccinated with whichever vaccine is available. That’s based on available clinical data and health authorities’ recommendations, or by what your doctor advises if you have an underlying medical condition. So the candid answer to which COVID vaccine is “best” is simply the one available to you right now.

Still not convinced? Here’s why it’s so difficult to compare COVID vaccines.

You might think clinical trials might provide some answers about which vaccine is “best”, particularly the large phase 3 trials used as the basis of approval by regulatory authorities around the world.

These trials, usually in tens of thousands of people, compare the number of COVID-19 cases in people who get the vaccine, versus those who get a placebo. This gives a measure of efficacy, or how well the vaccine works under the tightly controlled conditions of a clinical trial.

And we know the efficacy of different COVID vaccines differ. For instance, we learned from clinical trials that the Pfizer vaccine reported an efficacy of 95% in preventing symptoms, whereas AstraZeneca had an efficacy of 62-90%, depending on the dosing regime.

But direct comparison of phase 3 trials is complex as they take place at different locations and times. This means rates of infection in the community, public health measures and the mix of distinct viral variants can vary. Trial participants can also differ in age, ethnicity and potential underlying medical conditions.

One way we can compare vaccine efficacy directly is to run head-to-head studies. These compare outcomes of people receiving one vaccine with those who receive another, in the same trial.

In these trials, how we measure efficacy, the study population and every other factor is the same. So we know any differences in outcomes must be down to differences between the vaccines.

For instance, a head-to-head trial is under way in the UK to compare the AstraZeneca and Valneva vaccines. The phase 3 trial is expected to be completed later this year.

Until we wait for the results of head-to-head studies, there’s much we can learn from how vaccines work in the general community, outside clinical trials. Real-world data tells us about vaccine effectiveness (not efficacy).

And the effectiveness of COVID vaccines can be compared in countries that have rolled out different vaccines to the same populations.

For instance, the latest data from the UK show both Pfizer and AstraZeneca vaccines have similar effectiveness. They both reliably prevent COVID-19 symptoms, hospitalisation and death, even after a single dose.

So what at first glance looks “best” according to efficacy results from clinical trials doesn’t always translate to the real world.

The COVID vaccine you get today is not likely to be your last. As immunity naturally wanes after immunisation, periodic boosters will become necessary to maintain effective protection.

There is now promising data from Spain that mix-and-matching vaccines is safe and can trigger very potent immune responses. So this may be a viable strategy to maintain high vaccine effectiveness over time.

In other words, the “best” vaccine might in fact be a number of different vaccines.

Variant viruses have started to circulate, and while current vaccines show reduced protection against these variants, they still protect.

Companies, including Moderna, are rapidly updating their vaccines to be administered as variant-specific boosters to combat this.

So, while one vaccine might have a greater efficacy in a phase 3 trial, that vaccine might not necessarily be “best” at protecting against future variants of concern circulating near you.

It is entirely rational to want the “best” vaccine available. But the best vaccine is the one available to you right now because it stops you from catching COVID-19, reduces transmission to vulnerable members of our community and substantially reduces your risk of severe disease.

All available vaccines do this job and do it well. From a collective perspective, these benefits are compounded. The more people get vaccinated, the more the community becomes immune (also known as herd immunity), further curtailing the spread of COVID-19.

The global pandemic is a highly dynamic situation, with emerging viral variants of concern, uncertain global vaccine supply, patchy governmental action and potential for explosive outbreaks in many regions.

So waiting for the perfect vaccine is an unattainable ambition. Every vaccine delivered is a small but significant step towards global normality. – Reuters

Travel curbs may be eased for fully vaccinated Britons – The Telegraph

STOCK PHOTO

Fully vaccinated Britons could be allowed to travel to countries on the government’s ‘amber list’ without quarantining when they return home, The Daily Telegraph reported on Wednesday.

Under the current traffic light system, travellers returning from green list countries take COVID-19 tests but do not need to quarantine. Amber country arrivals require a period of self-isolation at home or in a hotel as well as the tests, and red country arrivals must quarantine in a managed hotel plus tests.

Countries on the amber list include Spain, France, Italy and the United States.

Under the new government plans, people who have had both doses of the COVID-19 vaccine will be allowed to avoid quarantine on their return from amber list countries, although they will still have to be tested, the newspaper said.

According to The Telegraph, Health Secretary Matt Hancock, who wants tougher border restrictions, is “open” to the change.

Officials are still working on whether any new regime would be limited to returning Britons or apply to all arrivals, what exemptions could be made for those who could not be vaccinated, and whether children under 18 should be exempted, the report added.

“Recognising the strong strategic rationale and success of the vaccine programme, we have commenced work to consider the role of vaccinations in shaping a different set of health and testing measures for inbound travel,” the paper quoted a government spokesman as saying.

Britain allowed international travel to resume last month, but nearly all major destinations were left off its list of countries open for quarantine-free holidays. – Reuters

Google launches Android Earthquake Alerts System 

REUTERS

GOOGLE launched a new, free smartphone feature known as the Android Earthquake Alerts System, available in the Philippines and globally.  

The alerts system can detect seismic activity in the area using the built-in accelerometers in active Android smartphonesDevice notifications can then provide early warning alerts for when an earthquake is detected.  

Launching the Android Earthquake Alerts System in the Philippines is part of our mission to bring helpful products and services to Filipinos,” said Bernadette Nacario, the Country Director of Google Philippines. “Our country, located in the Pacific Ring of Fire, is prone to natural calamities and this update will play an important role in disaster preparedness and risk reduction.” 

To confirm the validity of seismic occurrences, the device sends a signal to Google’s earthquake detection server, along with a coarse location of where the shaking occurred. The server will then take information from multiple phones to analyze if an earthquake really is happening, where it is, and its corresponding magnitude.  

In addition to getting a device notification, which people can turn off in settings if they wish, Google Search will also be able to alert people. Since the search engine receives near-instant information from the system, people who look up “earthquake” or “earthquake near me,” they will receive relevant results, along with helpful resources on what to do after an earthquake.  

TWO TYPES OF ALERTS 

The Android Earthquake Alerts System displays two types of alerts on mobile devices, depending on the magnitude and intensity of the earthquake.  

Be Aware alerts people when earthquakes with a magnitude of 4.5 occurwhich is an intensity level of 3 or 4 on the modified Mercalli intensity (MMI) scale. The notification comes with the distance of the phone from the earthquake’s epicenter. The alert uses the phone’s current volume, vibration, and Do Not Disturb settings.  

Take Action is a more urgent, full-screen alert for earthquakes with a magnitude over 4.5, which is an intensity level of 5 and up on the MMI scale. To help people prepare for potential heavy shaking, full-screen instructions are shown and the phone plays a loud sound. 

“Our smartphones are indispensable in moments of crisisWe believe Android devices can help people be prepared and stay connected in times of need,” said Ms. Nacario of Google Philippines, “We will continue to partner with the government, public safety officials, and leading crisis response experts to better surface relevant information in times of adversities, 

The Android Earthquake Alerts System was first introduced in New Zealand and Greece. It is available now in more countries including Kazakhstan, Kyrgyz Republic, Philippines, Tajikistan, Turkey, Turkmenistan and Uzbekistan.  

To see if the alerts are turned on on an Android device, go to Settings > Location > Advanced > Earthquake Alerts.  

For more information, watch this YouTube video or read this blog.

Netbank, a banking as a service platform, launched in the Philippines

The launch proves the Philippines leads the region in fintech innovation.

An experienced team of international and Filipino bankers has launched Netbank, a banking as a service platform in the Philippines. Netbank will offer low-cost, high-quality banking services on a white-labeled basis to Fintech and other financial services companies, allowing them to accelerate their growth.

“Our mission is to provide the full banking services and infrastructure, so Fintech can launch fast, safely and at low cost”, said Co-Founder, Gus Poston. “The Fintech industry in the Philippines should be huge. Filipinos have complex financial lives, with many taking loans and making payments. Most of these transactions happen in the informal sector as banks do not serve Filipinos well; bank penetration levels and electronic transactions are low compared to comparable countries like Thailand or Vietnam. At the same time, Filipinos are tech and social media savvy. This should be a perfect environment for Fintech, yet the industry is developing slowly compared to countries like Indonesia. This is because it is just hard to run a Fintech in the Philippines – it takes a long time to get access to payments, to open accounts, to launch an app. This is the problem that Netbank will solve.”

Netbank is a fully regulated bank, operating under a rural banking license. It is already in operation, booking loans originated by 3 alternative lenders. It has also built the infrastructure needed to provide a full range of banking services, using AWS to run its core banking system. It is now adding a range of best-in-class tools in compliance, fraud management, API services, and so on.

Netbank will launch its API platform in the next month. “Netbank will soon be able to ‘Make Payments’, ‘Open Accounts’, ‘Issue Loans’, and ‘Issue Cards’, all through APIs”, described Dave dela Paz, Co-Founder, and Head of Netbank Virtual. “We can also provide a range of technology tools, such as a white-labeled app and customer interfaces.”

“Netbank is rapidly building its tools,” added Jaymar Mendoza, Co-Founder, and Head of Operations and Infrastructure. “We are already members of PesoNet and Instapay, we have built connections to cash agents, we look forward to expanding our card offering fast. The support of the BSP has been critical as we built out our services; the BSP has been active in promoting innovation.”

“We pride ourselves in solving problems and being fast”, explained Gus. “We are working with a team who will launch a Neo-Bank for OFWs in less than 2 months for a budget of $20,000. That has to be the fastest and cheapest in the world. At the same time, we are ready to work with the largest and most demanding Fintech in the world – our systems are bullet-proof and totally scalable.”

The founding team has deep experience in the banking industry in the Philippines. Jaymar is a former CEO of a bank, Dave is a well-known leader in API-based banking and Gus has run a bank-focused private equity fund in the Philippines, as well as worked for Barclays and Booz Allen.

Netbank has a strong social mission at its heart. “Too often the financial services companies that the poor use and trust are hampered by poor technology and higher costs. We can accelerate the digital transformation of these companies to lower their costs and broaden their banking services.”

Netbank is the first banking as a service platform in Southeast Asia. It provides banking services, on a fully white-labeled basis, so that Filipino Fintechs grow fast and reduce their costs, thus accelerating financial inclusion and innovation. It provides simple, creative, low-cost solutions so that Fintech can open accounts, offer loans and manage payments.

To learn more about Netbank, go to www.netbank.ph, or contact gp@netbank.ph.

Fed signals higher rates in 2023, bond-buying taper talks as virus fades

WASHINGTON – The Federal Reserve on Wednesday began closing the door on its pandemic-driven monetary policy as officials projected an accelerated timetable for interest rate increases, opened talks on how to end crisis-era bond-buying, and said the 15-month-old health emergency was no longer a core constraint on U.S. commerce.

Signaling that broad changes in policy may happen sooner than expected, U.S. central bank officials moved their first projected rate increases from 2024 into 2023, with 13 of 18 policymakers foreseeing a “liftoff” in borrowing costs that year and 11 seeing two quarter-percentage-point rate increases.

Seven of the officials see rates moving higher next year, opening the possibility of even more aggressive action.

Fed Chair Jerome Powell, who spoke to reporters after the release of the central bank’s latest policy statement and economic projections, said there had also been initial discussions about when to pull back on the Fed’s $120 billion in monthly bond purchases, a conversation that would be completed in coming months as the economy continues to heal.

All told, Powell’s comments and the new Fed policy statement marked a strong vote of confidence that the U.S. recovery is on track, with even the pandemic – an ever-present fact of life that has conditioned monetary policy since March of 2020 – of diminishing concern.

The policy statement dropped longstanding language that the health crisis “continues to weigh” on the economy. Instead, Fed officials said the influence of COVID-19 vaccinations would “continue to reduce the effects” of the pandemic – a sentiment offered a day after New York state and California lifted most of their remaining pandemic-related restrictions.

“It is so great to see the re-opening of the economy … and to see people out living their lives again. Who doesn’t want to see that?,” Powell said in a news briefing after the end of the two-day policy meeting, though he noted central bankers would “drag our feet” in declaring any final victory over the virus.

Still, this week’s meeting will be noted as a distinct turn away from the crisis policies the Fed has pursued since the onset of the pandemic, at times crossing into uncharted territory with its broad and open provision of credit to an economy reeling towards a potential depression.

Instead of that dour outcome, Powell said on Wednesday that the talks on the fate of the Fed’s asset-purchase program and the rate increases, whenever they occur, should be seen as a sign of confidence in an economic recovery that has proceeded faster than imagined.

The Fed now expects the economy to grow 7% this year.

“Reaching the conditions for liftoff will mainly signal that the recovery is strong and no longer requires holding rates near zero,” Powell.

U.S. stocks fell after the release of the statement and the economic projections before paring losses, with the S&P 500 index closing down about 0.5%. The yield on the benchmark 10-year U.S. Treasury note rose to 1.58%, from 1.49% before the release, while the two-year U.S. Treasury yield saw its biggest one-day move since February, climbing to its highest level in about a year at about 0.21%.

‘SETTING HARES RUNNING’

The new language does not mean a change in policy is imminent: The Fed on Wednesday held its benchmark short-term interest rate near zero and said it will continue for now to buy $80 billion in Treasury securities and $40 billion in mortgage-backed securities each month to fuel the recovery.

It’s commitment to further healing of the job market remained unchanged. The Fed reiterated it wanted to see “substantial further progress” in employment before making any policy shift.

The economy remains about 7.5 million jobs short of where it stood at the onset of the pandemic. Fed officials still describe that level as “far” from their goal of restoring maximum employment.

Powell declined to offer guidance on the timing for any future policy shift, emphasizing that more economic data needs to be in hand.

But new economic projections appeared to add some urgency to the Fed’s planning.

Alongside higher growth, prices are also rising. Inflation is now on track to exceed the Fed’s 2% target by a wide margin of 3.5% this year and remain slightly elevated for the next two years, the projections showed.

Overall, Powell said he continued to believe that recent higher-than-expected price increases were driven by the peculiarities of trying to reopen the $20 trillion-a-year machine that is the U.S. economy. Supply bottlenecks were jamming up the production of goods, and a variety of dynamics were keeping some workers out of the job market and pushing wages up for others, he said.

A lesson of the recovery and reopening, he added, is that it is “easier to create demand than bring supply up to snuff,” though markets for products and labor would eventually normalize.

But he also acknowledged the rising risk that higher inflation may persist, a possibility apparent in the relative rush, by Fed standards at least, of policymakers toward an earlier rate increase.

Together, the projections were indicative of a recovery moving faster than anticipated, and justifying discussions about the next phase of policy for the Fed.

“This change in stance jars a little with the Fed’s recent claims that the recent spike in inflation is temporary,” said James McCann, deputy chief economist at Aberdeen Standard Investments. “The pressure is on to explain the change in stance without setting hares running.” — Reuters