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World no. 2 Rahm grabs four-shot lead at Memorial

TORONTO — Jon Rahm used a sizzling finish on a steamy hot afternoon at the Memorial Tournament to power four shots clear at the top of the leaderboard at Muirfield Village on Saturday, setting himself up for a run at the number one world ranking.

Chasing a fourth career PGA Tour win, the big-hitting Spaniard got his day off to a quiet start by mixing a birdie and a bogey on his outward nine but he caught fire after the turn to card four straight birdies from the 13th for a four-under 68.

It was the third consecutive round in the 60s for the world number two, putting him at 12-under for the tournament and four shots ahead of Americans Tony Finau and Ryan Palmer, who had shared the overnight lead.

Finau had a much more adventurous back nine, mixing a pair of double-bogeys and a bogey with three birdies for a one-over 73, while Palmer also suffered a late stumble with bogeys at 16 and 18 for his 73.

Rahm and American Brendon Todd (68) were the only golfers to dip under 70 on a day of gusting winds that produced lightning-fast greens and challenging scoring conditions. If Rahm can hold on for the win on Sunday he would replace Northern Irishman Rory McIlroy at the top of the world rankings.

“It’s extremely important. It’s obviously a big deal,” said Rahm, who would join Seve Ballesteros as the only Spaniards to reach number one. “I can’t sit here and… try to diminish it and avoid it because it would just be lying to myself because it is a big deal. But it is a consequence of me winning tomorrow.

“What’s important to me tomorrow is hit good shots, be committed and get the job done.”

With a four-shot cushion, Rahm will start Sunday in a commanding position but conditions for the final round are expected to be tougher than on Saturday which will make it even more difficult for someone to mount a charge.

Britain’s Danny Willett, the 2016 Masters champion, had a 70 to sit alone in fourth, six off the lead, with Australia’s Jason Day (72) and Sweden’s Henrik Norlander (71) another stroke adrift at five-under.

McIlroy had an even par 72 for the second consecutive day to stand at two-under, a massive 10 strokes behind the leader. — Reuters

Cojuangco-Jaworski makes history after being elected to IOC Executive Board

Mikee Cojuangco-Jaworski made history on Friday when she was voted to the International Olympic Committee (IOC) Executive Board, becoming the first Filipino and Asian woman to be a member of the powerful sports body.

A representative of the IOC to the Philippines since 2013, Ms. Cojuangco-Jaworski, a 2002 Asian Games gold medal-winning equestrian, figured prominently in the IOC voting held online, garnering 45 majority nods from 93 IOC members in the final round.

For her five-year term, Ms. Cojuangco-Jaworski, 46, joins the IOC President, four Vice-Presidents and nine other members in the Board.

As a member of the board, she is tasked to help in overseeing the affairs of the IOC and assuring that everything adheres to the Olympic Charter.

POC MEETING
Meanwhile, the Philippine Olympic Committee (POC) executive committee meets today to thresh out amendments proposed before the body holds elections later this year.

Among expected to be tackled relates to that barring an individual from holding the position of president for more than one national sports federation.

Such practice has been observed in the past in the POC and deemed problematic as it is susceptible to abuse, especially during elections to favor certain candidates.

Also up for discussion is the disaffiliation of a National Sports Association (NSA) no longer recognized by its international federation and banning officials who are over 70 years old from seeking an elective NSA position. — Michael Angelo S. Murillo

Filipino-American cager Ella Fajardo ticks off another item on bucket list

By Michael Angelo S. Murillo, Senior Reporter

Filipino-American basketball player Ella Fajardo is ticking off another item on her bucket list as she committed to play Division 1 basketball at Fairleigh Dickinson University (FDU) in New Jersey.

Seventeen-year-old Fajardo, a product of the Milo BEST Center, shared last week that she is taking her talent to FDU, owing largely to the good relationship she has developed with the school’s coaching staff. It was also arrived at in consultation with her parents, Allan and Ellen, who have been very supportive of her basketball dreams since taking the sport seriously.

“It’s been a pretty long process,” Fajardo shared, saying that she’s been recruited by various institutions in the United States ever since her freshman year in high school at Gill St. Bernard’s School.

“Fairleigh loved who I was outside of basketball and I have that personality that would fit into the team. They’re really looking for specific people for Fairleigh’s winning culture, primarily a guard who has leadership skills, and that was definitely what they saw in me while recruiting me and watching my games live,” she added of her recruitment.

The move to commit was a fulfilment of one of her goals in basketball.

“One of my goals is to get a scholarship from a D1 (Division 1) school and play for the Perlas Pilipinas national team because I have a lot of Filipino pride. Being Filipino has taught me a lot to have puso (heart). And No matter what, always laban (fight),” Fajardo shared with BusinessWorld when she visited the country last year.

She got to play for the national team in 2019 when she joined Kristine Cayabyab, Camille Clarin and Angelica Marie Surada in the FIBA 3×3 U18 Cup in Malaysia, where the team won bronze.

Fajardo hopes someday she gets to don the Philippine colors as part of the 5-on-5 team.

Throughout her journey so far, she has been grateful of the “solid fundamentals with a scientific spin” she got from the BEST Center, which in itself was an “adventure.”

Unlike most graduates of the BEST Center, Fajardo flew into the country from the States every summer break with her family to enrol at the center and further hone her skills.

From 2012 to 2015 she immersed herself in the basketball program from the beginners level all the way to the advanced ones.

It was a “sacrifice” that was well worth the effort and time, said Fajardo, especially since she reaped a lot of benefits from it, including earning scholarships and winning awards as well as becoming part of the Nike Elite Youth Basketball League with the New Jersey Sparks.

“The Milo BEST Center was foundational in my basketball career. The difference with the BEST Center and the other camps here in the States is their approach to teaching. They taught me how to dribble, how to play offense and defense, but they really taught me how to be disciplined while pushing you to the best of your abilities. Everything I know today came from them,” said Fajardo.

Now getting ready to take on a new challenge and journey, Fajardo is just thankful to be given the chance to continue what she loves doing.

“I think it’s such a blessing especially during these times of the pandemic …” she said.

Figueiredo is new UFC flyweight champion

Brazilian Deiveson Figueiredo became the new Ultimate Fighting Championship (UFC) flyweight champion after topping American Joseph Benavidez by technical submission (rear-naked choke) in the opening round of their headlining fight on Sunday on the “Fight Island” in Abu Dhabi, United Arab Emirates.

Fighting for the vacant flyweight title, Mr. Figueiredo was just dominant right from the opening bell that saw him dropping Mr. Benavidez three times in the early goings before putting the latter to sleep with a rear-naked choke at the 4:48 mark of the first round.

The win was the second straight for the Brazilian over Mr. Benavidez, who he defeated by technical knockout (punches) in the second round of their first meeting early this year in February.

It was the fourth straight victory for Mr. Figueiredo (19-1) while the loss sent Mr. Benavidez (28-7) to back-to-back losses.

The dominant performance also won for Mr. Figueiredo “Performance of the Night” and the $50,000 bonus that goes with it.

Also winning on Sunday was middleweight Jack Hermansson of Sweden, who made short work of Kelvin Gastelum of the United States with a first-round submission win (heel hook).

Sunday’s action was once again played without an audience as a precaution against the coronavirus disease 2019 (COVID-19) pandemic.

Next for the UFC is the showdown between middleweights Robert Whittaker and Darren Till, which is the headlining fight for July 26 also on the Abu Dhabi Fight Island. — Michael Angelo S. Murillo

Reckoning

The National Basketball Association is ramping up its operations inside the bubble environment at the ESPN Wide World of Sports Complex. Even as a cacophony of social media posts have shown players engaging in various pastimes at the Walt Disney World Resort, the increasing number of practice sessions leading to the start of exhibition games this week underscores the focus of franchises on the ultimate objective. It’s right to push for progression, to be sure; outside of restricted, albeit supervised, workouts at home, those slated to burn rubber when the 2019-20 season resumes at the end of the month practically went on hibernation for close to four months. Going full bore from full stop is a recipe for disaster. Even the truncated run-up presents not inconsiderable risk.

Make no mistake. The players are casting moist eyes on the Larry O’Brien Trophy. The hardware provides validation of the work they put into honing their craft, not to mention gives substance to the sacrifice they’re making; they’re literally laying their lives on the line in trekking to Orlando, Florida, a proven pandemic hotbed, and plying their trade. When their campaign was suspended mid-March, they still had a fifth of the regular season to navigate. Now, they’re looking at a severely shortened schedule heading into the playoffs, a fact highlighted all the more by the league’s announcement that their respective standings for individual awards will not be affected by the so-called seeding games.

It’s too bad, really, because a couple of the races looked to have become tighter before Rudy Gobert’s positive test for the novel coronavirus scuttled momentum for the likes of LeBron James and Zion Wiliamson. Not that they’re affected in the grand scheme of things; precisely because of the unique situation, they understand that claiming the Most Valuable Player or Rookie of the Year award is mere icing on the cake. When all is said and done, they’ll be looking back to their experience as a success or a failure based on whether or not they were able to be among the last men standing when the battlesmoke clears.

At this point, the battlesmoke actually clearing is more of a hope than a certainty. The NBA has done all it can to protect the integrity of its campus setting, even going so far as to install a tip line that encourages snitching on players violating established health and safety protocols; while it has been labeled as “petty” by not a few quarters, it proves that the viability of the experiment depends on adherence to even the smallest details. The virus is so insidious and easy to spread due to carelessness that absolute cooperation is key.

Perhaps the players will be so moved by the causes they’re espousing, on the court and off, that they’ll be able to hurdle physical and, yes, mental obstacles all the way to the finish. Buoyed by outstanding work from league commissioner Adam Silver and players association chief Michele Roberts, optimism reigns in the here and now. That said, the real tests will happen farther down the line. So, too, will the real reckoning, and fans are looking forward to celebration and not desuetude.

 

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.

Asia’s world-beating stock rally has bulls betting on more gains

Asian stocks’ outperformance versus the rest of the world driven by the region’s better containment of the coronavirus. Image via Reuters.

In a global market where hardly anything made sense this year, one trend seems to be supported by economic reality: Asian stocks’ outperformance versus the rest of the world driven by the region’s better containment of the coronavirus.

The MSCI Asia Pacific Index is set to beat the S&P 500 and the MSCI Europe Index for a second straight month in July as Asia scores high on curbing the virus as well as reopening economies. That, along with attractive valuations and Asian shares’ relative insulation from risks related to the US presidential election, is prompting money managers to call for more gains.

“We have a heavy bias toward Asian equities,” said Sebastien Galy, senior macro strategist at Nordea Investment Funds SA, which oversees the equivalent of $255 billion in assets. “We expect this theme to prove resilient to what should eventually be a much more difficult time in equity markets in September and October.”

Mr. Galy’s comments echo views from funds like Fidelity International Ltd. and Capital Group Cos., who see Asian stocks winning more allocation from investors. Virus cases in the region—the focal point when the pandemic originated in China—have been below 20% of the global count since world equity markets hit 2020 lows in March, data compiled by Bloomberg and Johns Hopkins University show.

On the other hand, infections in the US now make up for more than a fourth of the global count, while the Europe, Middle East and Africa region accounts for about a third of the total.

While most of the Asian economies have reopened between 70–95%, that run rate for most of the US stands at 45–60% as of last month, according to Cushman & Wakefield’s global economic reopening tracker, which takes into account factors such as essential services, borders, schools, retail and manufacturing.

“Asia and in particular countries like China, South Korea, Taiwan have controlled the virus quite well and we are seeing economic activities picking up quite fast,” according to Tuan Huynh, chief investment officer for Europe and Asia at Deutsche Bank Wealth Management.

Investors also cite a recovery in China’s economy as reason to be bullish on Asian equities. China’s gross domestic product expanded 3.2% in the second quarter from a year ago, data showed Thursday, reversing a decline in the first quarter and beating forecast.

The economic rebound will spread all around Asia Pacific with a lag of a few months, said Mr. Galy of Nordea Investment.

RISKS REMAIN
Nevertheless, there are some risks that can botch the bullish Asia narrative.

For one, a resurgence in virus infections from Hong Kong and Tokyo is forcing policy makers to delay or reverse business re-openings. India’s cases have exceeded 1 million, becoming the third country in the world to cross that tally. Such moves could thwart an economic recovery and dampen appetite for regional stocks.

At the same time, investor enthusiasm may wane if earnings upgrades continue to lag positive revisions seen in the US and Europe.

“I would not agree that Asia will perform the best,” said David Wong, an investment strategist at AllianceBernstein in Hong Kong. “If we’ve learned anything from the pandemic, it is that the equity market is not equal to the economy and that returns have no correlation with GDP growth.”

APPEALING VALUATIONS
That said, advocates of investing in Asian shares also cite better valuations.

“Asian equity valuations are attractive in the context of the long-term growth opportunities and a potential rebound in earnings next year,” said Sumit Mangal, a fund manager for Asia ex-Japan equities at Goldman Sachs Asset Management. “We could see a strong recovery in demand.”

Bloomberg-compiled data on the estimated return on equity show that Asian company valuations are way cheaper than their US and European peers even as the efficiency of Asian companies to generate profits using their assets remains in double digits.

The MSCI Asia Pacific Index has rebounded 35% from its March low. Still, the gauge can rise about 10% over the next one year, according to price forecasts by analysts surveyed by Bloomberg. That’s set to outpace the roughly 5% advance predicted for US and European stocks.

US ELECTION
While the pandemic remains a challenge, investors globally are also starting to factor in risks related to the US presidential election as recent polls show President Donald Trump trailing Democratic nominee Joe Biden. Goldman Sachs Group Inc. analysts have flagged the potential for earnings-depressing tax hikes should Democrats do well in November.

Expectations that Democrats will win the US election will keep a lid on stocks in the US and Europe, while Asian equities remain insulated from that risk, according to John Vail, chief global strategist at Nikko Asset Management Co. in Tokyo.

“Europe also has some correlation with the US stock market,” he said. “We are strongly preferring Asia ex-Japan to the rest of the world.”

Equities in Asia excluding Japan have outperformed the US heading into elections in three of the four previous cycles, with an average outperformance of about 6% in four months until the polls, according to Nomura Holdings Inc. — Bloomberg

Disabled workers, already in a tough spot, now have it worse

The global pandemic is worsening a labor market that already presents obstacles for workers with disabilities.

For America’s almost 30 million working-age disabled citizens—who deal with challenges including seeing and hearing, as well as getting around—the large majority of job opportunities lie in food service, hospitality, and retail. But when virus lockdowns brought those sectors to a standstill, workers with disabilities quickly saw their jobs vanish.

During the peak of pandemic-induced job losses, 18.9% of disabled Americans were unemployed, compared with 14.3% of the non-disabled population, according to unadjusted April data from the Bureau of Labor Statistics (BLS). In June, as states started to reopen their economies, the jobless rate for disabled Americans fell to 16.5%, while the rate for everyone else dropped to 11%—signaling a faster recovery for the general population than for those with disabilities.

“With the recovery, we’re seeing some businesses and industries take people back first that can work full-time and can do a broader array of tasks,” said Thomas Golden, executive director of the Yang-Tan Institute on Employment and Disability at Cornell University. “That further marginalizes the population of people with disabilities who were working part-time or doing specific tasks that they could do.”

‘VERY, VERY HARD’
Having a disability can mean different things. The US Census Bureau breaks disability into six categories: visual, hearing, ambulatory, cognitive, self-care, and independent living.

Of Americans with disabilities that were employed in 2018, the largest share had a hearing disability, at 53.6%, followed by visual disabilities at 45.4% and ambulatory disabilities at 25.6%, according to a Cornell analysis of the bureau’s American Community Survey. The numbers add up to more than 100% because many people have multiple disabilities.

Sherry Bell was working as a janitor at Valley Children’s Ice Center, an ice rink in Bakersfield, California, when she was furloughed in March. Ms. Bell, who has an intellectual disability that affects the speed at which she learns new tasks, says communication in the workplace has been a challenge in the past, with some of her bosses not properly explaining what was expected of her, and others speaking to her disrespectfully.

Ms. Bell is now receiving unemployment benefits and is working with PathPoint, a nonprofit for Californians with developmental disabilities that she has been involved with for five years. She’s trying to find a job to supplement her income in the interim. But finding work environments that accommodate her disability isn’t always easy.

“It was very, very, very hard,” Ms. Bell, 37, said of accommodating her disability at former jobs. “Some bosses were nice, some bosses were not.”

The disabled population faces barriers to entry when it comes to finding work because not all employers provide necessary accommodations, Mr. Golden said. For that reason, only one-fifth of disabled Americans over 16 are included the labor force to begin with, according to labor-force participation-rate data from the BLS.

With coronavirus prevention efforts rapidly changing business operations, even employees who do return to the workplace are met with new constraints such as different office layouts.

The federal stimulus package didn’t include funding for vocational rehabilitation or home and community-based services under Medicaid, meaning that disabled Americans aren’t getting additional workplace support, said Julie Christensen, director of policy and advocacy at the Association of People Supporting Employment First, a nonprofit that advocates for workplace inclusion.

“For many people with disabilities, their ability to be successful in the labor market is having access to services and support that can help them acclimate to the job,” Ms. Christensen said. “Business processes are changing—new equipment, plexiglass—how do you adjust to all of these things when the system there isn’t getting funded?”

While a large portion of disabled workers has been let go from jobs at retail stores and in restaurants, others have voluntarily chosen to leave because of pre-existing conditions that make them vulnerable to disease, said Philip Kahn-Pauli, policy and practices director at RespectAbility, a nonprofit that advances opportunities for people with disabilities.

Many disabled Americans rely on public transportation to commute, so they’ve stopped working to limit exposure and avoid bringing the virus home, especially since a large portion of the population lives in group homes or with roommates.

“There’s reasonable fear—a majority of deaths are people with a pre-existing condition,” Mr. Kahn-Pauli said. “So if you’re a person with a disability, are you going to accept unemployment if it means you’re not going to risk dying?”

Some disabled workers who have lost their jobs and can’t immediately find a new one will wind up applying for Social Security Disability Insurance, a program that provides income supplements to people who are physically restricted in their ability to work. The trouble is, it can take as long as three years to become entitled to benefits, said Mr. Golden, the Cornell University researcher.

Since millions of Americans aren’t working as a result of the pandemic, they’re not paying Social Security taxes, which means income for the fund isn’t growing, Mr. Golden said. That could have a longer-term impact on the fund’s solvency and threaten benefits in the future. The Social Security Administration paid out a record $145 billion in disability-related benefits last year.

The population is “very vulnerable during the application process,” Mr. Golden said. And while benefits provide an “income safety net, they foster a greater reliance on the system rather than developing innovative return-to-work programs.”

One bright spot for workers with disabilities could be the widespread acceptance of at-home work, Mr. Kahn-Pauli said. While many Americans with disabilities have trouble getting to an office, they can more easily work on a computer from home, which opens up avenues that didn’t exist before. Despite that benefit, Mr. Kahn-Pauli says he’s worried about the population’s economic security as the recession continues.

“If this crisis continues in the long term, we could see a lot of depths of despair before people start going on benefits,” Mr. Kahn-Pauli said. — Bloomberg

Former Wall Street trader seeks to make sense of crypto world

Some of the world’s major central banks teamed up earlier this year to assess the potential development of their own digital currencies, an argument that’s gained steam as policy makers try to keep up with new crypto and blockchain technologies.

Hunter Merghart comes from a traditional finance background, having spent over a decade on equity trading desks in New York at investment banks including Credit Suisse Group AG and Barclays Plc. But, like many of his peers, he became interested in the crypto market and made the transition to that world in 2018.

“I really saw it—even then—as a new emerging asset class and market to develop,” says Mr. Merghart, 36. He joined Luxembourg-based Bitstamp, one of the oldest cryptocurrency exchanges, as head of US operations in April 2019, helping to open its New York office.

The coronavirus has forced his New York team to work from home—but, he says they’re keeping up with the ever-evolving trends within the cryptosphere. What follows is a condensed interview on key themes Mr. Merghart and his team have been clued into:

WHAT CLIENTS ARE ASKING
Bitstamp has more than 4 million users globally. When Mr. Merghart speaks with clients on the institutional side, he’s asked about how they can more efficiently trade on the exchange and how Bitstamp can offer regulated derivatives. For retail investors, the demand is a bit different: They want to explore the ecosystem and find ways to participate—and often ask for easier access to various crypto products.

“So for us it’s, ‘OK, let’s think about high-quality assets that we can offer to retail in a regulated manner,” he said. “You’re starting to see movement on that in the US, but retail in general wants to explore this, just like they wanted to explore the early days of the internet. It’s just how do they get trusted counter-parties to do that with.”

ON POTENTIAL IMPLICATIONS OF CBDCS
Some of the world’s major central banks teamed up earlier this year to assess the potential development of their own digital currencies, an argument that’s gained steam as policy makers try to keep up with new crypto and blockchain technologies.

Proponents argue that CBDCs (central bank digital currencies), as they’re known, would allow for the creation of a digital form of fiat money that could become widely available to a large swath of users.

They might have a place in the world, especially if they help expedite the movement of money between users and across borders, says Mr. Merghart. “Maybe as a stop-gap solution, these central bank digital currencies could be a good solution.”

China has begun a pilot program for an official digital version of its currency, Bloomberg News reported. Some proponents say it could bolster the government’s power over the country’s financial system. Mr. Merghart cites privacy concerns. Putting everything on a centralized ledger could mean a lack of privacy on transactions. “So a blockchain or other distributed ledger would not be required or useful—even though they were the original inspiration for the concept,” he said.

ON THE RISE IN STABLECOIN USAGE
Stablecoins—or tokens pegged to other assets that are designed to be less volatile—have seen an increase in usage in certain corners of the market. Mr. Merghart has a simple answer as to why that might be happening: “It’s ease of use.”

He cites examples of stablecoin usage overseas, where they’re used to move money between countries in an expedited way. “You don’t have to deal with multiple banking partners, multiple bank accounts—you just have to deal with the stablecoin and maybe the issuer of that stablecoin,” he said. “The ease of use is pretty phenomenal.”

G20 finance officials eye solution to digital tax row this year

Critics say big tech companies firms profit enormously from local markets while making only limited contributions to public coffers, but Washington contends the taxes discriminate against US tech firms such as Google, Facebook and Apple Inc. — REUTERS

WASHINGTON/BERLIN — Finance officials from the Group of 20 (G20) major economies on Saturday vowed to resolve major differences over taxing big tech companies and reach a broad, consensus-based solution on international taxation this year.

The United States has been at loggerheads over the issue with Britain, France, and other key allies, who have adopted or are considering digital service taxes as a way to raise revenue from the local operations of big tech companies.

Critics say those firms profit enormously from local markets while making only limited contributions to public coffers, but Washington contends the taxes discriminate against US tech firms such as Google, Facebook, and Apple Inc.

The Trump administration this month ratcheted up pressure on France over its 3% digital services tax, saying it would impose additional duties of 25% on French imports valued $1.3 billion but would hold off on implementing the move while talks continued in the Organization for Economic Co-operation and Development.

G20 finance ministers and central bankers on Saturday acknowledged that the coronavirus pandemic had slowed work toward an international plan, but said they expected concrete proposals to emerge before their next meeting in October.

“We remain committed to… overcome remaining differences and reaffirm our commitment to reach a global and consensus-based solution this year,” they said after a virtual meeting.

After the meeting, German Finance Minister Olaf Scholz said, “Fair taxation of international companies and large digital groups is more urgent than ever.”

French Finance Minister Bruno Le Maire said reaching an agreement by year-end was “indispensible.”

“The (pandemic) crisis proved that these digital giants were the big beneficiaries of the crisis. They must pay their fair portion of tax,” he said. — Reuters

Twitter says attackers downloaded data from up to eight non-verified accounts

Twitter app
Twitter said the unidentified attackers targeted 130 accounts, and were able to reset passwords to take control of 45 of them and tweet from those accounts. — REUTERS

Twitter Inc. said on Saturday that hackers were able to download account information from up to eight accounts involved in the hack of its systems this week, but said none of them were verified accounts.

The company said the unidentified attackers targeted 130 accounts, and were able to reset passwords to take control of 45 of them and tweet from those accounts.

Hackers accessed Twitter’s internal systems to hijack some of the platform’s top voices including US presidential candidate Joe Biden, reality TV star Kim Kardashian, former US President Barack Obama, and billionaire Elon Musk and used them to solicit digital currency.

Publicly available blockchain records show the apparent scammers received more than $100,000 worth of cryptocurrency.

In the attack that occurred on Wednesday, Twitter said hackers were able to view personal information including e-mail addresses and phone numbers of the 130 targeted accounts, but unable to view previous account passwords.

“In cases where an account was taken over by the attacker, they may have been able to view additional information”, Twitter said in the statement without specifying the type of information accessed.

Hackers may have also attempted to sell the user names of some of the accounts, it said.

The high-profile accounts that were hacked also included rapper Kanye West, Amazon.com founder Jeff Bezos, investor Warren Buffett, Microsoft co-founder Bill Gates, and the corporate accounts for Uber and Apple.

In its latest statement, Twitter said attackers “manipulated a small number of employees” to gain access to the internal support tools used in the hack.

The company said it was holding back some of the details of the attack as it continues its investigation and reiterated that it was working with impacted account owners.

The FBI’s San Francisco division is leading an inquiry into the hacking, with many Washington lawmakers also calling for an account of how it happened. — Reuters

BARMM flags rising virus cases, limited testing, supply chains disruptions amid pandemic

THE BANGSAMORO Autonomous Region in Muslim Mindanao (BARMM) government has flagged several challenges they are facing because of the ongoing coronavirus pandemic such as the recent spike in coronavirus cases in the region, limited testing capacity, and supply chains disruption for their agricutural products.

In an online press briefing on Friday, BARMM Minister for Interior and Local Government Naguib G. Sinarimbo said that they saw a spike in the number of individuals testing positive for the coronavirus disease (COVID-19) in their region as more residents have come home from hotspot cities such as Metro Manila and Cebu City as well as those who had been in North Borneo or Sabah.

On top of this, he said the region is not equipped with enough testing and quarantine facilities so the officials need to quickly adjust to the situation.

“There are two parallel movements of people that enter the region. As a consequence of that, in the first week of June, we had less than 20 cases of COVID-19. Today, we already have 395 to be exact and these are mainly brought about by stranded individuals coming into the region from the NCR and from Cebu,” he said.

On the economic side, he said that due to travel restrictions across the country, the BARMM continues to face challenges in sourcing agricultural inputs for its crops and transporting fresh produce to urban centers.

“We are essentially agricultural and into fisheries and these are not really affected by COVID-19. The only challenge that we need to address is… we cannot market our products from the region going to the centers (and bringing) the essential agricultural inputs from the centers… to the region. If we manage this well, then we resolve the issue of food security for the centers and at the same time we continue to produce in the region,” he said.

Mr. Sinarimbo is part of the Bangsamoro Intergovernmental Agency addressing the COVID-19 pandemic. He said that they continue to meet with their national government counterparts to discuss and help the newly established BARMM government address these challenges.

Metro Manila remains under general community quarantine while Cebu City is still under the stricter modified enhanced community quarantine.

BARMM is under the looser modified general community quarantine. — Beatrice M. Laforga

1,800 new COVID-19 cases: DoH

The Department of Health (DoH) announced that 1,841 more cases of the coronavirus disease 2019 (COVID-19) were reported on July 17, bringing the total case tally to 63,001.
In a briefing on Friday, Health Undersecretary Maria Rosario S. Vergeire said, “Mula sa laboratory submissions kahapon na navalidate as of 4 p.m. today, July 17, ang ating active cases natin ay 39,593 at ang total confirmed cases ay 63,001 kung saan ang nadagdagan sa araw na ito ay 1,841.”

(From our laboratory submissions yesterday which were validated as of 4 p.m. today, July 17, our active cases are 39,593 and the total confirmed cases are 63,001 with 1,841 added today.)

The 1,841 cases were reported from 76 out of the country’s 84 COVID-19 testing labs.

An additional 311 recoveries were also reported, bringing the total recovery count to 21,748. The number of deaths as of today is 1,660, which includes the 17 reported on July 17.

Regarding hospital bed capacity, the DoH said that 976 ICU beds are available from the total 1,661. For isolation beds, 5,374 are unused from the total of 10,410 beds. Of the 3,477 ward beds, 1,492 beds are available.

In terms of COVID-19 testing done so far, the DoH reported that 1,009,511 individual tests have been performed. – Gillian M. Cortez