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Late Mbappé stunner gives PSG 1-0 home win over Real Madrid

KYLIAN Mbappé scored a stunning individual goal in stoppage time to give Paris Saint-Germain (PSG) a 1-0 home victory over Real Madrid and spare Lionel Messi’s blushes after he had missed a penalty in their Champions League last-16, first leg on Tuesday.

It took PSG 94 minutes to find the winner with a brilliant run by Mbappé, who danced in between two defenders and calmly slid the ball into the far corner to earn PSG a deserved victory after they had dominated the encounter.

PSG missed several chances and were thwarted by Real keeper Thibaut Courtois, who denied Mbappé on several occasions before superbly pushing away Messi’s spot kick in the second half.

“It was a great game for us and I’m always ready to help my team, there are no distractions,” said Mbappé, who has now scored 13 goals in his last 13 Champions League matches.

“We have to be humble and the second leg is still open. It will be a hard game, but we will have the advantage and are very confident.”

Real Madrid finished the game with zero shots on target while PSG had eight, with almost 60% of possession.

Real will be without Casemiro and Ferland Mendy for the second leg at home on March 9. The pair were both shown yellow cards and will be suspended for collecting three yellows in the competition.

“Our counterattack didn’t work today,” Courtois told reporters. “It’s hard to lose but the second leg is wide open. We have to win and we will try to do it in front of our fans, what is a great advantage.”

Courtois repeatedly frustrated Messi and Mbappé. His best save came early in the second half when Messi stepped up for the penalty after Mbappé had been fouled inside the area by Dani Carvajal. The Belgian stretched low to his left to stop the Argentinian’s shot with his hand.

But 30 minutes later, Mbappé found the winner and Courtois could only watch as the ball went through his legs and into the corner of the net.

“Mbappé is the best player in European football,” Real manager Carlo Ancelotti said. “We didn’t play well but we are not dead yet.” — Reuters

Giannis Antetokounmpo drops 50 as Bucks top Pacers

GIANNIS Antetokounmpo scored a season-high 50 points as the Milwaukee Bucks earned a 128-119 win over the visiting Indiana Pacers on Tuesday night to complete a four-game sweep of the season series.

Antetokounmpo added 14 rebounds on 17-for-21 shooting to help the Bucks snap their two-game losing streak. Khris Middleton contributed 19 points and eight assists, and Jrue Holiday notched 14 points and eight assists. Reserve Lindell Wiggington had a career-high 12 points.

Milwaukee shot over 50% from the field for the fifth time in the last seven games, cashing in on 48 of its 86 shots (55.8%).

Buddy Hield paced Indiana with 36 points and hit eight of 12 shots from behind the arc. Tyrese Haliburton recorded 17 points and eight assists. Goga Bitadze chipped in 12 points, and Jalen Smith added 11.

In what was a back-and-forth third quarter, the Pacers pulled within one after Haliburton hit a 3-pointer with 55 seconds left in the frame, but Indiana could never take a lead. The Bucks went on to outscore the Pacers 29-24 in the fourth, handing them their seventh consecutive loss.

A 15-7 run in the second quarter put the Pacers up by two, but Milwaukee outscored Indiana 23-15 for the remainder of the half to go into the break with a six-point edge. Antetokounmpo led all scorers with 18 points to go along with nine rebounds, and Middleton had 11 points.

The Bucks were extremely efficient through the first 24 minutes of action, hitting 28 of 46 shots (60.9%).

Indiana’s new duo of Hield and Haliburton kept it within striking distance, as they combined for 27 points on 10-for-15 shooting. The Pacers were also aggressive on the defensive end, nabbing six steals that helped translate to nine fastbreak points.

Milwaukee jumped out to an early seven-point lead thanks to 12 points from Antetokounmpo and a 56.5% shooting performance from the field in the first quarter. Eighteen of its first 34 points came inside the paint. — Reuters

France’s Noel conquers ‘Ice River’ to win slalom gold

YANQING, China — Clement Noel scorched the “Ice River” course in a stunning second run to win the men’s slalom event at the Winter Olympics on Wednesday — France’s first Alpine skiing gold in Beijing.

The 24-year-old, who finished fourth in slalom and the mixed team event four years ago in Pyeongchang, was sixth fastest in the first run, but stormed down in a blistering 49.79 seconds in his second to take the title.

“That was one of the most important races in my career,” Noel said. “It’s not often that you are able to win a medal in the Olympic Games. It’s one shot — one minute and 40 seconds every four years.

“I knew that I was in shape. My races in January were not good but training here was really good, I was fast. This is the best I can do. I have no words to describe it.

“Olympic champion… wooh!”

Austrian Johannes Strolz won silver to go with his gold in the combined, finishing 0.61 second behind Noel, while reigning world champion Sebastian Foss-Solevaag of Norway took bronze.

Noel has struggled for consistency this season and is sixth in the World Cup slalom standings.

He is the first French Olympic slalom winner since Jean-Pierre Vidal won gold at the Games in Salt Lake City in 2002 and the third overall, after Jean-Claude Killy’s win in the discipline at the Grenoble Games in 1968.

Strolz, who was fastest in the first run but a disappointing 13th in his second, matched his father Hubert’s medal haul at the Calgary Games in 1988.

The senior Strolz won Olympic gold in the combined and a silver medal in the giant slalom 34 years before his son repeated the feat by winning a gold and silver medal in China.

“The silver medal, it’s totally crazy,” Strolz said. “I am so happy with it… To share the podium with Clement and Sebastian is amazing.”

Foss-Solevaag, who is second in the World Cup slalom rankings this season behind compatriot Lucas Braathen, who skied out of his opening run, said his podium finish was a massive relief.

The 30-year-old Foss-Solevaag was within touching distance of a medal at the Pyeongchang Games after finishing fifth in his first run, but ended well back in the pack in his final run to come 10th.

“It really hasn’t sunk in yet,” Foss-Solevaag said. “It’s a huge relief and a huge goal but if you have a goal, that doesn’t mean you will reach it.

“I had a good chance in Pyeongchang last Olympics and I didn’t manage to do it. So to do it today was big. I have been thinking a lot since the slalom in Pyeongchang.” — Reuters

Peso climbs vs dollar as geopolitical tensions ease

BW FILE PHOTO
THE PESO strengthened against the dollar on Wednesday as tensions between Russia and Ukraine waned. — BW FILE PHOTO

THE PESO strengthened versus the greenback on Wednesday as some developments in the Ukrainian border brought relief to investors and amid gains in the local stock market.

The local unit closed at P51.285 per dollar on Wednesday, gaining 9.7 centavos from its P51.382 close on Tuesday, data from the Bankers Association of the Philippines showed.

The peso opened Wednesday’s session stronger at P51.319 against the dollar. Its weakest showing was at P51.34, while its intraday best was at P51.27 versus the greenback.

Dollars exchanged increased to $596.1 million on Wednesday from $560.28 million on Tuesday.

“The peso appreciated after Russia announced that it will be withdrawing some military troops situated near the Ukrainian border,” a trader said in an e-mail.

The Russian defense ministry on Tuesday showed footage showing it was returning some troops to base after exercises near the Ukrainian border, Reuters reported. However, US President Joseph R. Biden said they have not verified the move.

The peso strengthened amid the decline in oil prices following Russia’s pronouncement, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Oil prices dropped by 3% on Tuesday, although it already recouped some losses by Wednesday. Brent rose 62 cents or 0.7% to $93.90 a barrel by 0722 GMT, while the US West Texas Intermediate crude was up by 64 cents or 0.7% to $92.71.

Mr. Ricafort said there was also positive sentiment amid gains in the local stock market.

The benchmark Philippine Stock Exchange index closed at 7,452 on Wednesday, up by 142.88 points or 1.95% from its previous finish.

The wider all shares index also gained 1.82% or 70.34 points to end at 3,930.54.

For Thursday, Mr. Ricafort gave a forecast range of P51.20 to P51.35, while the trader expects the local unit to move within P51.20 to P51.45 a dollar. — L.W.T. Noble with Reuters

Stocks up on easing tensions, remittance data

BW FILE PHOTO

PHILIPPINE SHARES rebounded on Wednesday as worries over tensions between Russia and Ukraine eased and after data released on Tuesday showed remittances hit all-time high last year.

The benchmark Philippine Stock Exchange index (PSEi) went up 142.88 points or 1.95% to close at 7,452.82 on Wednesday, while the broader all shares index advanced 70.34 points or 1.82% to 3,930.54.

“The rally is fueled by optimism on signs that diplomacy is working towards further de-escalation of tensions between Russia, Ukraine and the NATO allies,” Cristopher Adrian T. San Pedro, Equity Trader Unicapital Securities, Inc. said in a Viber message.

Kyiv appeared to blame Russia for a cyberattack on Tuesday as US President Joseph R. Biden, Jr. warned that more than 150,000 Russian troops were still amassed near Ukraine’s borders after Moscow’s announcement of a partial pullback was met with skepticism, Reuters reported.

“The country’s robust cash remittances for 2021 also boosted sentiment,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

Data released by the Bangko Sentral ng Pilipinas (BSP) on Tuesday showed cash remittances coursed through banks rose by 5.1% to $31.418 billion in 2021 from $29.903 billion in 2020.

Last year’s remittance growth is a turnaround from the 0.8% drop in 2020 but still slower than the 6% expansion estimated by the central bank.

Cash remittance inflows in 2021 exceeded the previous record of $30.133 billion in 2019 before the pandemic.

The BSP expects cash remittances to grow by 4% this year.

AAA Southeast Equities, Inc. President William M. Cabangon said Converge Information and Communications Technology Solutions, Inc., which gained 8.04%, was the biggest winner among index names.

“This was after reports came out that the company is signing a deal with Elon Musk’s SpaceX. The partnership would allow Musk to offer internet connectivity beamed from satellites to the Philippines,” Mr. Cabangon said in a Viber message.

All sectoral indices ended in the green on Wednesday. Property jumped 133.68 points or 3.98% to 3,484.98; services advanced 45.66 points or 2.39% to 1,950.38; industrials climbed 177.40 or 1.70% to 10,588.65; mining and oil gained 182.91 points or 1.63% to 11,359.29; holding firms rose 74.61 points or 1.06% to 7,101.30; and financials went up 11.94 points or 0.69% to 1,737.86.

Value turnover increased to P9.53 billion with 1.16 billion shares switching hands on Wednesday from the P8.03 billion with 1.21 billion issues traded on Tuesday.

Advancers beat decliners, 123 versus 63, while 49 names closed unchanged.

Foreigners turned buyers with P893.43 million in net purchases seen on Wednesday versus the P263.59 million in net outflows seen the previous trading day. — M.C. Lucenio with Reuters

’Til death do us part: Marriage trends in the PHL keep in step with the pandemic

UNSPLASH

Marriage registrations in the Philippines picked up in 2021 after dropping 44% the previous year, according to a February study by the iPrice Group, a Kuala Lumpur-based online shopping aggregator. Google searches for wedding-related keywords also increased in 2021 as compared to 2019.

Data from the Philippine Statistics Authority show that marriage registrations in the country numbered 240,775 in 2020, down from 431,972 in 2019.

Among the countries surveyed, Malaysia and Indonesia saw the least decline in marriage registrations within the same time period at 9%. Thailand and Singapore also saw a decrease in marriage registrations, at 17% and 11%, respectively.

Between January and October 2021, Filipinos started tying the knot again, as marriage registrations surpassed the previous year’s tally by 7%.

Since couples who exchanged vows over the pandemic had to adhere to public health protocols through physical distancing and reduced seating capacity, they were able to save up to 53% of the cost of a “normal” wedding, iPrice gathered.

Quoting 2018 prices for the average mid-range budget from My Bridesmade, an online wedding resource, iPrice found that a mid-range Filipino wedding at 20% venue capacity (30 guests) amounted to P264,888. This amounts to less than 53% of the pre-pandemic wedding estimate. The same wedding at 50% capacity (75 guests) likewise saved the bride and groom 37% of the original budget (P356,580 versus P566,000).

The quoted budgets include invitations, the reception, and gifts.

KEYWORD SEARCHES
The iPrice study also saw a 254% increase in the number of Google searches among Filipinos for wedding-related keywords in 2021 versus 2019. Among the most-searched keywords were “wedding rings” (152%), “engagement rings” (120%), “wedding dresses” (134%), and “wedding venues” (147%).

Searches peaked in January and March 2021, when restrictions were loosened in Metro Manila; and October 2021, when some form of travel was allowed. 

Overall, the country had the most searches on all wedding-related keywords compared to Malaysia, Singapore, Thailand, and Indonesia. Despite not having the highest Google reach (or the number of signed-in users visiting the said search engine), searches for the wedding-related keywords reached 8.9 million in 2021 in the Philippines — or up to four times the total searches of its other four neighbors. — Patricia B. Mirasol

iPrice collated marriage registration data from psa.gov.ph (for the Philippines), dosm.gov.my (for Malaysia), databoks.katadata.co.id (for Indonesia), stat.bora.dopa.go.th (for Thailand), and singstat.gov.ph (for Singapore). Data on Google searches were collated from Google Keyword Planner.

S.Korea reports record 90,443 COVID cases, daily count doubles in a week

SEOUL – South Korea on Wednesday reported a daily record of 90,443 new coronavirus cases, as numbers nearly doubled within a week amid the spread of the highly infectious Omicron variant.

The record count for Tuesday marked a drastic surge from 57,177 a day before and brought total infections in the country since the pandemic began to 1,552,851. Deaths remain comparatively low, though, with 39 fatalities on Tuesday and a total of 7,202 so far, according to the Korea Disease Control and Prevention Agency (KDCA).

The country of 52 million population has largely been a COVID-19 mitigation success story, thanks mainly to widespread wearing of masks, social distancing and aggressive testing and tracing.

But authorities have shifted testing and tracing policy, in line with the less fatal Omicron variant’s spread, toward self-monitoring and diagnosis and at-home treatment starting this month.

Prime Minister Kim Boo-kyum said the government was considering easing the current strict distancing curbs which include a 9 p.m. curfew for restaurants, cafes and bars, and a ban on gatherings of more than six vaccinated people.

More than 86% of South Koreans have been fully vaccinated and 58% have received a booster shot, KDCA data showed. – Reuters

China’s Xi says Hong Kong needs to stabilize and control COVID surge – media

SCREENSHOT VIA APEC

HONG KONG – China’s President Xi Jinping has told Hong Kong‘s government to stabilize and control a deepening COVID-19 outbreak in the global financial hub as soon as possible, pro-Beijing media reported on Wednesday.

The directive increases pressure on authorities scrambling to keep pace with a deluge of new infections in the financial hub.

Xi instructed Chinese Vice Premier Han Zheng to relay to Hong Kong Chief Executive Carrie Lam his “concern about the pandemic situation” and his care for local residents, according to front page stories in newspapers Wen Wei Po and Ta Kung Pao.

Both media, which typically support Beijing’s interests in Hong Kong, said Xi made the remarks recently but did not specify where he was speaking.

The stories come a day after Lam said her government’s response to the Omicron outbreak had not been satisfactory, with hospitals and medical staff overwhelmed.

Lam, who has not confirmed whether she will seek another five-year term as head of the Chinese-ruled city, said she could “not preclude” the possibility of postponing next month’s chief executive election.

No heavyweight contender has yet declared their candidacy, a highly unusual situation just five weeks before the election.

COVID infections have surged 20 times on a daily basis since the start of February and Lam has said authorities can no longer keep up with testing and isolation mandates.

Dozens of patients were being treated in makeshift open air spaces outside medical centers on Tuesday as several hospitals operated at over 100% capacity.

Health authorities reported 1,619 confirmed infections on Tuesday, a daily record, and another 5,400 preliminary positive cases.

Xi said the government “must mobilize all power and resources to take all necessary measures to ensure the safety and health of the Hong Kong people and ensure the stability of the society in Hong Kong,” according to the newspapers.

Hong Kong has recorded around 26,000 infections since the start of the pandemic, including just over 200 deaths, far fewer than other similar sized major cities.

However, medical experts have warned cases could surge to 28,000 daily by the end of March amid worries about high levels of vaccine hesitancy among the elderly. – Reuters

U.S. sea level to rise by 2050 as much as in past century, NOAA says

STOCK PHOTO | Image by Solène Desjardins from Pixabay

Sea levels around the United States will rise up to a foot over the next 30 years due to climate change, as much as they have risen in the previous century, the National Oceanic and Atmospheric Administration (NOAA) projected in a report on Tuesday.

The study forecasts that sea levels along the U.S. shoreline will rise 10-12 inches (25-30cm) on average by 2050. Sea levels will tend to be higher along the Atlantic and Gulf shores, because of greater land subsidence there, than along the Pacific coasts.

In addition to more frequent bouts of coastal inundation associated with storm surges, rising sea levels are leading to increasing episodes of flooding from high tides alone.

Damaging coastal floods typical of today’s sea levels, weather conditions and infrastructure are expected to occur more than 10 times as often in the next 30 years, Nicole LeBoeuf, director of NOAA‘s National Ocean Service, said in a summary of the report.

“I can tell you with complete confidence that these are not the kind of changes that we grew up with,” said LeBoeuf, a native of the Texas Gulf Coast.

The study, designed as a planning tool to mitigate and adapt to rising sea levels predicted, has a high degree of certainty over the next three decades, regardless of any efforts to curb greenhouse gas emissions that are warming the planet, NOAA officials said. But NOAA suggests additional sea level increases further into the future could be curtailed by tougher action to lower greenhouse gas emissions.

“This new data on sea rise is the latest reconfirmation that our climate crisis ⁠— as the president has said ⁠— is blinking ‘code red,'” Gina McCarthy, the White House national climate advisor to U.S. President Joe Biden, said in the study’s summary.

The NOAA report, prepared in collaboration with several federal agencies, draws on a combination of tide gauge measurements, satellite observations and analysis from the latest report of the Intergovernmental Panel on Climate Change (IPCC) to determine sea level rise projections around the country.

NOAA officials said the report builds on and supports previous findings from the IPCC and other entities about sea level rise, which experts say is caused primarily by melting ice sheets and glaciers as global temperatures increase. – Reuters

Yellen to urge G20 help for developing countries to end pandemic

WASHINGTON – U.S. Treasury Secretary Janet Yellen will urge her G20 counterparts to work towards ending the COVID-19 pandemic in developing countries and ensuring they have the resources needed to support an equitable recovery, a U.S. Treasury official said on Tuesday.

Yellen is due to participate virtually in the meeting of finance ministers and central bank governors from the Group of 20 major economies on Thursday and Friday.

The U.S. Treasury official laid out U.S. priorities for the meeting, which comes as COVID-19 Omicron variant cases are receding in many wealthy countries but are still rising in many developing countries. Host country Indonesia reported a daily record 57,049 new cases on Tuesday.

Southeast Asia’s most populous country had initially planned an in-person G20 finance meeting in Bali, but the venue was moved to Jakarta in January when it became a hybrid gathering with many officials participating virtually.

Yellen will urge the G20 to tailor their policies to individual country circumstances to secure an inclusive recovery and to close the gap in vaccine access for poorer countries, the official said.

This includes supporting efforts by the World Bank, the International Monetary Fund, the World Health Organization and the World Trade Organization to address global bottlenecks in the deployment of vaccines, therapeutics and diagnostics, the official said.

Yellen also will urge G20 countries to support a proposed global fund housed at the World Bank to invest in pandemic prevention and preparedness, with its estimated $75 billion cost a “bargain” compared to COVID-19’s global economic and human costs.

Yellen also will express confidence that momentum will be maintained among 136 countries to finalize an agreement for a 15% global minimum corporate tax this year, so that it can be put into force in 2023.

The official said Democrats in the U.S. Congress broadly support the international tax provisions.

“Secretary Yellen expects they will be part of any Build Back Better bill passed,” the official added, referring to U.S. President Joe Biden’s social and climate investment bill, which is currently stalled in Congress.

Yellen also intends to make a pitch for more intensive climate action to meet carbon emissions reduction goals, including mobilizing more private capital to finance the transition away from fossil fuels. Public resources can help catalyze additional private financing for reducing emissions, the official said. – Reuters

Ukraine defense ministry website, banks, knocked offline

PIXABAY

KYIV – The online networks of Ukraine’s defense ministry and two banks were overwhelmed on Tuesday and Ukraine’s information security centre pointed the finger at neighbouring Russia.“It is not ruled out that the aggressor used tactics of little dirty tricks because its aggressive plans are not working out on a large scale,” the Ukrainian Centre for Strategic Communications and Information Security, which is part of the culture ministry, said in a statement.Kyiv has blamed Moscow for similar actions in the past and since Russia began massing more than 100,000 troops near the frontier, raising East-West tensions as the West fears Russia is planning to attack Ukraine, which Moscow denies.The type of disruption reported by Ukrainian authorities on Tuesday is known as a distributed denial-of-service – often abbreviated DDoS – but the scale of it wasn’t immediately clear. The manoeuvre, which works by directing a fire hose of internet traffic from a multitude of sources against one set of servers or another, is a common across the internet and such attacks happen periodically in Ukraine and beyond.A message on the home page of the Ukrainian defense ministry website said it was under maintenance. The ministry tweeted that its website was apparently under a cyberattack and it was working on restoring the access to it.Oshadbank confirmed the cyberattack saying that it resulted in slowing down of some of its systems. The strategic communications centre said that Privatbank users also had problems with payments and a banking app. Privatbank did not immediately comment.San Francisco-based Cloudflare, a prominent provider of denial-of-service protection, said that it had seen no evidence of “large DDoS activity” in Ukraine against its data centres or customers there.“From our perspective today hasn’t seen unusual attack traffic against us or our customers on Ukraine,” the company said in an email.The United States and its allies have indicated that they are prepared to respond to Russian digital incursions, even if details remain sparse.White House press secretary Jen Psaki said there were “a range of means that we could respond – both seen and unseen – to a cyber attack or any other attack.” — Reuters

Cebu Pacific plans new squeeze on legroom with record number of seats

CEBUPACIFICAIR.COM

A Philippine airline that holds the record for cramming the most seats into a plane is set to do it again with a new Airbus SE jet.

Cebu Air Inc., the biggest carrier in the Southeast Asian nation, plans to configure its newest and upcoming A321 XLR aircraft with the highest seat-density possible, doubling down on a strategy it deployed on wide-body jets used on short-haul routes.

“We always look to optimize the floor space that we have in combination with the number of lavatories, galleys etc.,” Michael Szucs, chief executive adviser of Cebu Pacific, said in an interview on the sidelines of the Singapore Airshow, which began Tuesday. “It will be another high-density configuration on the A321 XLR, but it’s still a very comfortable one.”

Cebu in 2019 decided to move kitchens and bathrooms on some of its new Airbus A330neos to cram in a record 460 seats, 20 more than the plane’s recommended maximum. The A321 XLR, expected to enter service from 2023, can accommodate as many as 244 seats in a higher-density configuration.

The airline uses the A330neo, which is capable of covering as much as 13,334 kilometers (8,300 miles), mostly on short-haul routes, flying to places like Hong Kong and Singapore. While the plane also flies to Dubai and Australia to cater to Filipinos working overseas and backpackers, “it’s a short-haul big bus,” Szucs said.

Filling an aircraft to capacity with basic seats allows airlines to bring down fares by flying more people for the same expense, even at the cost of passenger comfort. They compensate for that by offering an on-time and efficient flying experience. It also helps carriers navigate through scant parking and landing slots at airports.

European low-cost carrier Ryanair Holdings Plc led the charge in 2014 when it ordered high-density jets from Boeing Co. with eight more seats than normal, while Cathay Pacific Airways Ltd. in 2017 started cramming an extra seat into each economy row on its Boeing 777-300s, at the cost of about an inch of personal space for each passenger.

“Airbus is very confident about not only the A330neo, but also about the configuration we got it in. We were the ones that innovated, along with Airbus, to get this number of seats on there,” Szucs said. “They think there will be other buyers as well.” — Bloomberg

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