Ronaldo strikes as Al-Nassr thrashes Asian Champions League holder Al-Ain, 5-1

November 6, 2024 | 7:29 pm

CRISTIANO RONALDO was on target as Saudi Arabia’s Al-Nassr inflicted a crushing 5-1 defeat on Al-Ain in the Asian Champions League Elite in Riyadh on Tuesday that leaves the titleholders’ hopes of advancing to the last 16 in jeopardy.

The win was Al-Nassr’s third in four matches in the league phase of the continental championship and moves Stefano Pioli’s side up to third and within two points of compatriots Al-Hilal and Al-Ahli, who lead the standings at the halfway point.

The top eight in the 12-team groups in both west and east Asia advance to the last 16 in March and Al-Ain, who defeated Al-Nassr last season on the way to the title, are in danger of missing out on a place in the knockout rounds.

Hernan Crespo’s side have picked up a solitary point in their four games so far and will need a significant turnaround if they are to climb off the bottom of the table in the second half of the league phase.

The side from the United Arab Emirates were comprehensively outplayed throughout with Anderson Talisca putting the home team in front in the fifth minute with a low drive from distance that slid past Khalid Eisa.

Ronaldo doubled that advantage 26 minutes later when Eisa spilt Sadio Mane’s shot from outside the area and the Portuguese striker pounced on the loose ball.

Six minutes later Brazilian winger Angelo Gabriel cut in from the left to hit a shot towards goal that beat Eisa via a deflection off Fabio Cardoso, giving the keeper little chance.

Al-Ain pulled one back 11 minutes after the restart when Park Yong-woo’s drive beat Bento when it struck the post and hit the Al-Nassr goalkeeper on the back to cross the line.

But Wesley scored nine minutes from time to kill off any hope of a comeback and Talisca hit his second of the night in injury time to complete the rout.

Al-Rayyan climbed off the bottom of the table earlier in the evening when the Qatari side picked up their first points of the campaign with a 1-0 win over Pakhtakor of Uzbekistan.

A long punt forward from near the halfway line in the 51st minute by Hazem Shehata, intended for the head of Brazilian forward Roger Guedes, flew over goalkeeper Vladimir Nazarov and into the top corner to give Al-Rayyan victory. — Reuters

Donald Trump declares victory in US presidential elections

November 6, 2024 | 7:14 pm

PALM BEACH, Florida — Republican Donald Trump claimed victory in the 2024 presidential contest after Fox News projected that he had defeated Democrat Kamala Harris, which would cap a stunning political comeback four years after he left the White House.

“America has given us an unprecedented and powerful mandate,” he said early on Wednesday to a roaring crowd of supporters at the Palm Beach County Convention Center, flanked by his vice presidential running mate, Senator JD Vance, Republican leaders and members of Mr. Trump’s family.

He also spent several minutes praising Elon Musk, the richest man in the world, who pumped some $120 million into backing Trump’s campaign. Mr. Trump has said he will appoint Mr. Musk to lead a government efficiency commission.

Other news outlets had yet to call the race for Mr. Trump, but he appeared on the verge of winning after capturing the battleground states of Pennsylvania, North Carolina and Georgia and holding leads in the other four, according to Edison Research.

Ms. Harris did not speak to her supporters, who had gathered at her alma mater Howard University. Her campaign co-chair, Cedric Richmond, briefly addressed the crowd after midnight, saying Harris would speak publicly on Wednesday.

“We still have votes to count,” he said.

The former president was showing strength across broad swaths of the country, improving on his 2020 performance everywhere from rural areas to urban centers.

Republicans won a U.S. Senate majority after flipping Democratic seats in West Virginia and Ohio. Neither party appeared to have an edge in the fight for control of the House of Representatives where Republicans currently hold a narrow majority.

Mr. Trump went into Election Day with a 50-50 chance of reclaiming the White House, a remarkable turnaround from Jan. 6, 2021, when many pundits pronounced his political career to be over. That day, a mob of his supporters stormed Congress in a violent attempt to overturn the results of the 2020 election.

Mr. Trump picked up more support from Hispanics, traditionally Democratic voters, and among lower-income households that have keenly felt the sting of price rises since the last presidential election in 2020, according to exit polls from Edison.

Mr. Trump won 45% of Hispanic voters nationwide, trailing Harris with 53% but up 13 percentage points from 2020.

About 31% of voters said the economy was their top issue, and they voted for Mr. Trump by a 79%-to-20% margin, according to exit polls. Some 45% of voters across the country said their family’s financial situation was worse off today than four years ago, and they favored Trump 80% to 17%.

Global investors were increasingly pricing in a Trump win late on Tuesday. US stock futures and the dollar pushed higher, while Treasury yields climbed and bitcoin rose — all flagged by analysts and investors as trades that favor a Trump victory.

No matter who won the election, history was in the making. Mr. Trump, 78, the only president to be impeached twice and the first former president to be criminally convicted, would also become the first president to win non-consecutive terms in more than a century and would be the oldest presidential candidate ever elected.

If elected, Ms. Harris, 60, the first female vice-president, would become the first woman, Black woman and South Asian American to win the presidency.

TRUMP OUTPERFORMS 2020
Mr. Trump was earning a bigger share of the vote than he did four years ago in nearly every corner of the country.

By 12:30 a.m. ET, officials had nearly completed their count of ballots in more than 1,600 counties – about half the country — and Mr. Trump’s share was up about 2 percentage points compared to 2020, reflecting a broad if not especially deep shift in Americans’ support for the president they ousted four years ago.

He improved his numbers in suburban counties, rural regions and even some large cities that are historically bastions of Democratic support; in high-income counties and low-income ones; and in places where unemployment was comparatively high and in places where it is now at record lows.

Ms. Harris had banked on big margins among urban and suburban voters, but her support in those places was running well behind President Joseph R. Biden’s in the 2020 election.

Nearly three-quarters of voters said American democracy is under threat, according to the exit polls, underscoring the depth of polarization in a nation where divisions have only grown starker during a fiercely competitive race.

Mr. Trump employed increasingly apocalyptic rhetoric while stoking unfounded fears that the election system cannot be trusted. Ms. Harris warned that a second Trump term would threaten the underpinnings of American democracy.

Hours before polls closed, Mr. Trump claimed on his Truth Social site without evidence that there was “a lot of talk about massive CHEATING” in Philadelphia, echoing his false claims in 2020 that fraud had occurred in large, Democratic-dominated cities. In a subsequent post, he also asserted there was fraud in Detroit.

“I don’t respond to nonsense,” Detroit City Clerk Janice Winfrey told Reuters.

A Philadelphia city commissioner, Seth Bluestein, replied on X, “There is absolutely no truth to this allegation.”

Trump voted earlier near his home in Palm Beach, Florida.

“If I lose an election, if it’s a fair election, I’m gonna be the first one to acknowledge it,” Mr. Trump told reporters.

Millions of Americans waited in orderly lines to cast ballots, with only sporadic disruptions reported across a handful of states, including several non-credible bomb threats that the FBI said appeared to originate from Russian e-mail domains.

Tuesday’s vote capped a dizzying race churned by unprecedented events, including two assassination attempts against Mr. Trump, Mr. Biden’s surprise withdrawal and Ms. Harris’ rapid rise. — Reuters

From Taiwan to trade, China braces for four more years of superpower rivalry with US

November 6, 2024 | 7:13 pm

BEIJING — As Republican Donald Trump claimed victory in the US presidential election, defeating Democrat Kamala Harris, China is bracing for four more years of bitter superpower rivalry over trade, technology and security issues.

Mr. Trump showed strength across broad swathes of the country, earning a bigger share of the vote nationwide than he did four years ago, ballots showed.

Chinese strategists said that while they expected more fiery rhetoric and potentially crippling tariffs from Mr. Trump, some said his isolationist foreign policy could give Beijing a vacuum to expand its global influence.

“Beijing anticipated a close race in the US election. Although Trump’s victory is not China’s preferred outcome and raises concerns, it is not entirely unexpected,” said Tong Zhao, senior fellow at the Carnegie Endowment for International Peace.

“The Chinese leadership will likely strive to maintain an appearance of a cordial personal relationship with Trump, while intensifying efforts to project China’s power and strength.”

TRUMP TARIFF THREAT
Mr. Trump has proposed tariffs on Chinese imports in excess of 60% and ending China’s most-favored-nation trading status, and analysts say the prospect of a trade war has rattled China’s leadership.

China sells goods worth more than $400 billion annually to the US and hundreds of billions more in components for products Americans buy from elsewhere.

“Beijing is particularly wary of a potential revival of the trade war under Trump, especially as China currently faces significant internal economic challenges,” said Mr. Zhao.

“China also expects Trump to accelerate the decoupling of technologies and supply chains, a move that could threaten China’s economic growth and indirectly impact its social and political stability.”

In response, China is likely to intensify its push for greater technological and economic self-sufficiency, while feeling more pressure to bolster economic ties with countries like Russia, he added.

“Going forward, Beijing would likely be drawing up a list of clear bargains and interest tradeoffs that it could float with Washington, in hope that it can focus on its much needed domestic economic concerns whilst Mr. Trump’s attention is occupied elsewhere,” said Brian Wong, assistant professor at the University of Hong Kong who studies grand strategy.

GLOBAL POWER VACUUM
China is likely to shore up ties with the Global South, Europe and Northeast Asian countries in the event of a Trump win, given his “transactional, isolationist, anti-globalist and anti-multilateral foreign policy,” said Mr. Wong.

Chinese President Xi Jinping and Indian Prime Minister Narendra Modi reached a rare rapprochement last month, while Beijing has tentatively reached out to the new Japanese administration this autumn following years of strained relations.

“China expects the second Trump administration to further disengage from international agreements and commitments, creating opportunities for China to expand its influence in emerging power vacuums,” Mr. Zhao added.

Mr. Trump has unnerved democratically governed Taiwan by saying it should pay Washington for its defense and that it had taken US semiconductor business.

“The Biden administration applied high-pressure tactics to China on Taiwan, with US troops stationed in Taiwan and even selling weapons to Taiwan… in a huge break with the former Trump administration’s Taiwan policy,” said Shen Dingli, an international relations scholar in Shanghai.

“Trump is not too likely to give Taiwan the same support in future.” — Reuters

Impact of floods in Spain could hit over 10B euros

November 6, 2024 | 7:13 pm

Euro-currency — Fifty-euro notes are seen in this file photo. — REUTERS

MADRID — Damages to businesses in towns hit by floods in eastern Spain could rise to over 10 billion euros, with banks loan exposure to the area worth alone around 20 billion euros ($21.82 billion), representatives for local firms and a Bank of Spain official said on Tuesday.

On Tuesday, the government earmarked around 10.6 billion euros to help victims of some of Europe’s worst flooding in decades. At least 217 people died and more are still unaccounted for.

Spanish banks’ loans to areas worst hit by floods mainly in Valencia region would rise to around 13 billion euros to households and 7 billion euros to companies, said Angel Estrada, the central bank’s head of financial stability.

In total, the central bank identified 23,000 companies with outstanding loans and 472,000 loan holders in those regions.

Of those 150,000 were mortgage contracts on which the government and banks agreed to offer loan moratoriums. Clients will be spared from paying monthly installments for the first three months and just pay interests for an additional nine months on their mortgages.

Estrada said it was important to make sure that those moratoriums would not lead to reclassification of credits that might trigger higher provisions.

Jose Vicente Morata, Chairman of Commerce for Valencia region, said that the damage to businesses in the worst affected area of this region would provisionally rise “well over” 10 billion euros.

Estrada said it was still too early to assess the precise economic impact of the floods though he acknowledged that there had been a more “significant destruction of capital” than during the COVID-19 pandemic.

He said the banking sector would be “able to absorb” any impact, though they had laid bare that climate risks were materializing faster than expected and banks should now focus on measuring accelerating physical risks as well as addressing the transition risks of shifting to a lower carbon economy.

Mirenchu del Valle, chairman of Spain’s UNESPA insurance association, said the Valencia floods would represent Spain’s “most significant damages claim for a climate event,” without putting a figure on it.

A spokesperson for the Economy Ministry, which oversees the insurance sector, declined to provide a figure for the claims so far.

So far, the most costly economic event by floods took place in Bilbao in 1983, when claims rose to more than 821 million euros and 1.08 billion included associated damage for high winds, according to data from the Spanish insurance consortium. — Reuters

Exploding parcels in Europe part of plot to target US flights, officials say

November 6, 2024 | 7:09 pm

VILNIUS/WASHINGTON — Parcels that exploded at logistics depots in Europe were part of a test run for a Russian plot to trigger explosions on cargo flights to the United States, according to security officials.

Western governments and intelligence agencies in Europe have previously pointed to Moscow as being the source of a series of fires and acts of sabotage in Europe aimed at destabilizing allies of Ukraine.

However, explosions in courier depots in Britain, Germany and Poland this July, which a Lithuanian presidential adviser said were the work of Russia, had the potential to mark a serious escalation by causing an explosion on an aircraft.

“I can state that this is part of unconventional kinetic operations against NATO countries that are being undertaken by the Russian military intelligence,” Kestutis Budrys, a national security adviser to Lithuanian President Gitanas Nauseda, told Reuters on Tuesday.

“We note that these operations are being escalated: their focus is moving… to harming infrastructure and actions that could end up killing people,” he added.

The Russian government did not immediately respond to a request for comment.

The Wall Street Journal on Monday cited Western security officials as saying that the devices that ignited in DHL depots in Birmingham, central England, and Leipzig were part of a Russian operation that was intended to cause fires on cargo or passenger flights to North America.

The US Transportation Security Administration said over the past several months it “worked with industry partners to put additional security measures for US aircraft operators and foreign air carriers regarding certain cargo shipments bound for the United States.”

EXPLODING PARCELS INVESTIGATION
Poland said in October it had detained four people in an investigation into explosive parcels being sent by courier to EU countries and Britain as part of a plot that ultimately aimed to send such packages to the United States and Canada.

The Canadian government said Tuesday it told Russia directly “that any threat to the safety and security of Canadians is unacceptable” but added “there is no imminent threat to Canadians at this time.”

Transport Canada “takes threats to aviation security very seriously and works closely with key national and international stakeholders,” it added.

Warsaw blamed foreign intelligence services without specifically naming Russia.

Polish daily Gazeta Wyborcza reported in October that a parcel had caused a fire in a truck at a site belonging to a courier firm near Warsaw and that the exploding parcels in Poland, Germany and Britain had been sent from Lithuania.

Lithuanian Prosecutor General Nida Grunskiene told reporters Vilnius was investigating the parcels and arrests had been made in “Lithuania and elsewhere”.

“Our investigation is ongoing quite intensely, in cooperation with institutions in other countries,” she said. “And at this moment we have people under arrest, but I will not say the number to avoid harm to the investigation.”

The FBI declined to comment. Britain’s Home Office, which is responsible for domestic security, declined to comment. — Reuters

Russia, China ‘emerging axis’ troubling, says Australia official

November 6, 2024 | 7:08 pm

Putin-Xi — RUSSIAN PRESIDENT Vladimir Putin and Chinese President Xi Jinping meet in Beijing, China, May 16, 2024. — SPUTNIK/SERGEI GUNEEV/POOL VIA REUTERS

SYDNEY — The head of Australia’s national intelligence office said an “emerging axis” of countries providing support to Russia, including China, Iran and North Korea, was “a profoundly troubling strategic development” that western countries were struggling to catch up with.

Director-General of the Office of National Intelligence, Andrew Shearer, said on Wednesday that the strategic impact of an emerging axis, that had China and Russia at its core, had been underestimated.

“The massive provision by China of dual use assistance to Putin, and economic support and diplomatic support is keeping Putin’s army in the field in Ukraine, killing innocent Ukrainians just as surely as if they were providing artillery ammunition and missiles,” Mr. Shearer said at the Raisina Downunder conference in Canberra.

He also listed the provision of Iranian drones, and North Korean missiles and combat troops to Russia. South Korea and the US say around 10,000 North Korean troops have arrived in Russia to support its war against Ukraine.

“This is a profoundly troubling strategic development and we are all grappling to catch up with it and put in place effective measures, but I think this is one of the strategic challenges of our time,” Mr. Shearer said.

Australia is a member of the Five Eyes intelligence partnership with the US, Britain, Canada and New Zealand. Shearer is the top advisor to Australia’s Prime Minister Anthony Albanese on intelligence matters. — Reuters

Trump claims ‘powerful mandate’ after Fox News projects he has won US presidency

November 6, 2024 | 4:04 pm

PALM BEACH, Florida – Republican Donald Trump claimed victory in the 2024 presidential contest after Fox News projected that he had defeated Democrat Kamala Harris, which would cap a stunning political comeback four years after he left the White House.

“America has given us an unprecedented and powerful mandate,” he said early on Wednesday to a roaring crowd of supporters at the Palm Beach County Convention Center, flanked by his vice presidential running mate, Senator JD Vance, Republican leaders and members of Mr. Trump’s family.

He also spent several minutes praising Elon Musk, the richest man in the world, who pumped some $120 million into backing Mr. Trump’s campaign. Mr. Trump has said he will appoint Mr. Musk to lead a government efficiency commission.

Other news outlets had yet to call the race for Mr. Trump, but he appeared on the verge of winning after capturing the battleground states of Pennsylvania, North Carolina and Georgia and holding leads in the other four, according to Edison Research.

Ms. Harris did not speak to her supporters, who had gathered at her alma mater Howard University. Her campaign co-chair, Cedric Richmond, briefly addressed the crowd after midnight, saying Ms. Harris would speak publicly on Wednesday.

“We still have votes to count,” he said.

The former president was showing strength across broad swaths of the country, improving on his 2020 performance everywhere from rural areas to urban centers.

Republicans won a U.S. Senate majority after flipping Democratic seats in West Virginia and Ohio. Neither party appeared to have an edge in the fight for control of the House of Representatives where Republicans currently hold a narrow majority.

Mr. Trump went into Election Day with a 50-50 chance of reclaiming the White House, a remarkable turnaround from Jan. 6, 2021, when many pundits pronounced his political career to be over. That day, a mob of his supporters stormed Congress in a violent attempt to overturn the results of the 2020 election.

Mr. Trump picked up more support from Hispanics, traditionally Democratic voters, and among lower-income households that have keenly felt the sting of price rises since the last presidential election in 2020, according to exit polls from Edison.

Mr. Trump won 45% of Hispanic voters nationwide, trailing Harris with 53% but up 13 percentage points from 2020.

About 31% of voters said the economy was their top issue, and they voted for Mr. Trump by a 79%-to-20% margin, according to exit polls. Some 45% of voters across the country said their family’s financial situation was worse off today than four years ago, and they favored Trump 80% to 17%.

Global investors were increasingly pricing in a Mr. Trump win late on Tuesday. U.S. stock futures and the dollar pushed higher, while Treasury yields climbed and bitcoin rose – all flagged by analysts and investors as trades that favor a Trump victory.

No matter who won the election, history was in the making. Mr. Trump, 78, the only president to be impeached twice and the first former president to be criminally convicted, would also become the first president to win non-consecutive terms in more than a century and would be the oldest presidential candidate ever elected.

If elected, Ms. Harris, 60, the first female vice president, would become the first woman, Black woman and South Asian American to win the presidency.

TRUMP OUTPERFORMS 2020

Mr. Trump was earning a bigger share of the vote than he did four years ago in nearly every corner of the country.

By 12:30 a.m. ET, officials had nearly completed their count of ballots in more than 1,600 counties – about half the country – and Mr. Trump’s share was up about 2 percentage points compared to 2020, reflecting a broad if not especially deep shift in Americans’ support for the president they ousted four years ago.

He improved his numbers in suburban counties, rural regions and even some large cities that are historically bastions of Democratic support; in high-income counties and low-income ones; and in places where unemployment was comparatively high and in places where it is now at record lows.

Ms. Harris had banked on big margins among urban and suburban voters, but her support in those places was running well behind President Joe Biden’s in the 2020 election.

Nearly three-quarters of voters said American democracy is under threat, according to the exit polls, underscoring the depth of polarization in a nation where divisions have only grown starker during a fiercely competitive race.

Mr. Trump employed increasingly apocalyptic rhetoric while stoking unfounded fears that the election system cannot be trusted. Ms. Harris warned that a second Mr. Trump term would threaten the underpinnings of American democracy.

Hours before polls closed, Mr. Trump claimed on his Truth Social site without evidence that there was “a lot of talk about massive CHEATING” in Philadelphia, echoing his false claims in 2020 that fraud had occurred in large, Democratic-dominated cities. In a subsequent post, he also asserted there was fraud in Detroit.

“I don’t respond to nonsense,” Detroit City Clerk Janice Winfrey told Reuters.

A Philadelphia city commissioner, Seth Bluestein, replied on X, “There is absolutely no truth to this allegation.”

Mr. Trump voted earlier near his home in Palm Beach, Florida.

“If I lose an election, if it’s a fair election, I’m gonna be the first one to acknowledge it,” Mr. Trump told reporters.

Millions of Americans waited in orderly lines to cast ballots, with only sporadic disruptions reported across a handful of states, including several non-credible bomb threats that the FBI said appeared to originate from Russian email domains.

Tuesday’s vote capped a dizzying race churned by unprecedented events, including two assassination attempts against Mr. Trump, Mr. Biden’s surprise withdrawal and Ms. Harris’ rapid rise. – Reuters

Commodities under pressure on likely Trump win in US presidential race

November 6, 2024 | 3:23 pm

Global-oil-barrels — MODELS of oil barrels and a pump jack are displayed in this illustration photo taken on Feb. 24, 2022. — REUTERS

SINGAPORE — Commodities from oil to metals and grains slid on Wednesday as the dollar strengthened, with investors increasingly pricing in that Donald Trump will win the U.S. presidential election.

Trump has won the 270 electoral votes needed to claim victory over challenger Kamala Harris, according to Fox News, but other news organizations have yet to declare him the winner though he remains in the lead.

Oil and soybean prices fell about 1.5%, while copper dropped more than 2% in Asian trade on pressure from the U.S. dollar rally. Precious metals, including gold held steady.

“This is the initial response in commodities markets to U.S. vote counting and early results favouring Trump victory,” Ole Hansen, head of commodity strategy at Saxo Bank, told Reuters.

“The main focus is that if we will see a Trump 2.0 scenario, we are likely to see tariffs on Chinese goods, which is negative for metals with China being the big consumer of copper, iron ore and steel. Oil is down on worries over economic growth as tariffs are not good for overall global demand,” he said.

China’s industrial metals and steel industries could face headwinds if Trump returns to office. Trump has pledged to impose blanket 60% tariffs on Chinese goods to boost U.S. manufacturing.

“China’s steel prices will undertake more downward pressure if Trump wins the election, and domestic steelmakers may face even more severe losses,” said Ge Xin, deputy director at Lange Steel Research Centre.

“This is because Trump will be more aggressive in terms of measures against China.”

Global oil supplies could face disruptions if a Trump administration tightens sanctions on oil shipments from Iran, which exports about 1.3 million barrels per day.

“And Trump may support Israel adopting a tougher military posture against Iran which portends higher near-term risk of a military escalation that might impact supply in the region, said Saul Kavonic, senior energy analyst at MST Marquee.

For agriculture, Beijing may be compelled to respond with retaliatory tariffs on U.S. soybeans if Trump wins and imposes new tariffs on Chinese goods.

While Beijing has reduced its reliance on U.S. soybean imports, the oilseed remains the largest U.S. agricultural export to China.

Spot gold held its ground after hitting a record high of $2,790.15 last Thursday. Gold is considered a hedge against geopolitical and economic uncertainties and tends to thrive in a low-interest-rate environment.

The Federal Reserve starts a two-day monetary policy meeting on Wednesday and is expected to deliver another 25-basis-point rate cut, but a Trump win could complicate the U.S. rate outlook.

“While money markets fully back a 25bp cut – and one seems likely this week – they likely won’t want to deliver a dovish message with any cut, given Trump’s policies are deemed inflationary,” said Matt Simpson, senior analyst at City Index.

“And that could dent gold over the near-term, although I suspect any pullback is likely to remain shallow as gold will retain its safe-haven flows in the early days of a Trump presidency.” — Reuters

Global Dominion dominates with P1 billion of loans released in a month

November 6, 2024 | 11:49 am

By Aian Guanzon

Leading Philippine financing company, Global Dominion achieves yet another remarkable milestone in its recent loan releases that reached P1 billion in just one month (October 2024). This beats its former record of P980 million.

“We’ve only just begun,” said its President & Managing Director Patricia Poco-Palacios. With more than 116 branches and marketing offices nationwide, Global Dominion aims to be of service to more Filipinos through its accessible and innovative loan products and services.

Chairman Ruben Y. Lugtu II uttered his appreciation to the company’s employees which he calls “the key to Global Dominion’s success.” The financing business has more than 1,700 employees as of this writing.

“Superb!” exclaimed Robert B. Jordan, Jr., CEO & vice-chairman, when asked about the company’s latest achievement. He explained that more milestones are to come given the team’s efforts to expand its new divisions dedicated to branches, car financing, truck financing, real estate mortgage loans, and real estate financing.

This lending company, which started in 2003, appears to be unstoppable from making it to the top among other industry players. With its aggressive growth, there is no doubt that it will truly live by its battle cry for the upcoming year, “DOMINATE!”

“Global Dominion is a place where people are empowered to make decisions, take ownership of their work, and feel genuinely valued for their contributions,” said Samuel Carino, DCOO and branch division general manager. “It’s a space where everyone feels safe to share ideas, concerns, and opinions without fear of judgment, embraces trial-and-learn approaches to innovation, and receives constructive feedback that drives continuous improvement,” he added — all when asked about the team’s secret to success.

Know more about Global Dominion’s vehicle mortgage loan, vehicle financing, real estate mortgage loan, real estate financing, and doctors’ loan through gdfi.com.ph.

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Pag-IBIG Fund’s assets breached P1 trillion

November 6, 2024 | 11:40 am

Pag-IBIG Fund reached new heights as the agency breached the P1-trillion mark in Total Net Assets in August 2024, reflecting a 14% growth versus September last year. The growth is largely driven by higher net revenues, increased member savings, and strategic management of its investment portfolios, top officials announced.

“We have just celebrated the National Shelter Month and we are proud to share that Pag-IBIG Fund has breached the P1-trillion mark in assets. This serves as a testament to our commitment of fulfilling our mandate. Not only can we assure that our members’ fund is prudently managed, it also means that we are ready and able to finance our Filipino workers’ dream of home ownership. This remains consistent with the directive of President Ferdinand R. Marcos, Jr. to provide quality and accessible social benefits to our countrymen,” said Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development (DHSUD), who serves as chairperson of the 11-member Pag-IBIG Fund Board of Trustees.

As of the end of September 2024, Pag-IBIG Fund’s fiscal performance continues to grow, recording a Total Net Assets of P1.02 trillion – a P125.74 billion increase compared to September last year. The agency’s gross income reached P62.09 billion, while net revenues amounted to P39.54 billion – higher by 17% compared to P33.66 billion in September 2023.

Member savings as of the third quarter of 2024 amounted to P98.72 billion, an increase of 48% from P66.73 billion collected within the same period last year. This double-digit growth was due to the increase in both the Pag-IBIG Regular Savings and Pag-IBIG MP2 Savings.

Buoyed by the implementation of the Maximum Fund Salary (MFS) increase early this year, total collections for the Pag-IBIG Regular Savings amounted to P49.86 billion as of September 2024, while MP2 voluntary savers remitted P48.86 billion collectively, a year-on-year increase of 58% and 39%, respectively.

The agency also reported a net unrealized gain of P320 million, a reversal from the P2.28 billion net unrealized loss in September 2023. This movement is attributed to improved market valuations of investments measured at fair value through other comprehensive income, further strengthening the agency’s financial position.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta remarked that members will benefit the most from the agency’s strong performance.

“Ang panalo po dito ay ating mga miyembro. With our strong fiscal standing, we continue to provide our members with the best benefits and programs, to help them prepare and secure a better future, not just for themselves, but also for their families. They are assured that the money that they entrust with us is not just well accounted for but continues to grow. We remain steadfast in our commitment to help improve the lives of the Filipino workers,” Acosta said.

Acosta emphasized that the growth in Pag-IBIG Savings does not only translate to available funds for the members but also helps the Philippine economy grow.

“As a money multiplier, every P100 saved by members and employers in Pag-IBIG Fund can potentially help generate P1,800 in the economy through future loans and infusion of cash into the economy. Of course, this can be easily achieved if our members and partner-developers continue to avail of our housing loan, development loan, and cash loan programs. For those whose loans have already been approved, on-time repayment is also important so that we can continue the financial cycle. In the end, whatever revenues that Pag-IBIG generates, it will still benefit our members through the crediting of dividends,” she added.

Aside from showcasing proper fiscal management through its exponential growth in assets and revenues, the Commission on Audit also rendered an unmodified opinion on the fairness of the presentation of Pag-IBIG Fund’s 2023 financial statements, in accordance with applicable financial reporting frameworks. It is the 12th consecutive unqualified/unmodified opinion, which the Fund has received from the commission, since 2012.

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Democrat Sarah McBride becomes first openly transgender member of US Congress

November 6, 2024 | 11:12 am

WASHINGTON – Democrat Sarah McBride became the first openly transgender person elected to the U.S. House of Representatives, Edison Research projected on Tuesday, winning election to Delaware’s at-large seat.

Ms. McBride, a 34-year-old state senator, won a competitive primary for Delaware’s at-large congressional district, considered safely Democratic, in September.

She became the first openly transgender person to serve as a state senator when she was elected in 2020, first to speak at a U.S. national political party convention in 2016, and first to intern at the White House in 2012, under Democratic former President Barack Obama.

In an interview with Reuters ahead of her election, Ms. McBride sought to focus instead on the issues she would prioritize, rather than the history-making nature of her candidacy.

“Whenever you are first, you often have to try to be the best version that you can,” she said, acknowledging that comes with “added responsibilities.”

“But none of them matter if I don’t fulfill the responsibility of just being the best member of Congress that I can be for Delaware,” she said.

Lawmakers in 37 U.S. states introduced at least 142 bills to restrict gender-affirming healthcare for trans and gender-expansive people in 2023, Reuters reported, nearly three times as many as the previous year.

In Congress, Republicans have pushed anti-trans bills at the national level for years.

Ms. McBride grew up in Wilmington, Delaware, and came out in 2011 after years of knowing she was trans.

She became involved in politics in part to create a more inclusive environment.

Asked what message young transgender Americans should take from her expected election, Ms. McBride said, “Anyone who worries that the heart of this country is not big enough to love them should know that they belong … Our democracy is big enough for all of us.” – Reuters

Smart holds ‘unbox the future’ event at iPhone 16 midnight launch

November 6, 2024 | 11:10 am

Kyline Alcantara and Kobe Paras take their first selfie using the #PowerfullySmart newest iPhone 16 devices.

Subscribers of Smart Communications, Inc. (Smart) were able to “unbox the future” during the midnight launch of the new iPhone 16 Series, held recently at the Smart Store in SM Megamall, Mandaluyong City.

The event was graced by local stars Kyline Alcantara and basketball player Kobe Paras.

The basketball star was particularly excited to try the iPhone 16’s new camera settings. “I love taking pictures, so I decided to see how clear and how improved the camera is,” he shared. The new flagship iPhones can now capture more moments than its predecessors because of its advanced Photographic Styles, Camera Control, and Zero Shutter Lag.

Kyline, meanwhile, is a fan of iPhone 16 series’ battery life.

“I always forget to charge my phone so having a long battery life will be helpful for me,” the actress said. According to Apple, each iPhone 16 model will charge to around 50% in just under 30 minutes.

First 16 owners of the new iPhones

SMART unveiled the iPhone 16 series during a recent midnight launch with Senior Vice President for Consumer Wireless Business Kristine Go (third from left), actress Kyline Alcantara, and basketball star Kobe Paras.

Meanwhile, Smart rewarded the first 16 subscribers who availed of the new iPhone 16 handsets with P3,000 worth of vouchers and phone accessories from Smart at the midnight launch.

“I’ve been with Smart for 10 years,” shared Maylu Mallari, one of the telco’s first 16 iPhone 16 customers. “This is really the Smart choice!”

Filled with fun and games, the event kickstarted with DJ Ish’s party beats, followed by the performance of singer-songwriter Reneé Dominique. The launch also encouraged customers to donate their old devices for recycling at the in-store bin. Sixteen iPads were also given away to lucky Smart subscribers who attended the midnight launch.

“Smart is making it easier for subscribers to get their new iPhone 16 and iPhone 16 Pro. You may try to compare our offers to that of others, and I can guarantee that we have the best offers,” said Kristine Go, Senior Vice President for Smart Consumer Wireless Business.

She added, “New Postpaid subscribers can upgrade to the latest iPhone with a low downpayment under Plans+ 999 for only P1,300 monthly. If you’re on Smart Prepaid, this is the perfect time to upgrade to iPhone 16 because Smart offers it for as low as P2,313 monthly for 24 months at absolutely zero percent interest.”

Available on Postpaid, Infinity, and Prepaid

For those who are looking for the best iPhone16 deals, Smart offers the following options from Smart Postpaid, Smart Infinity, and Smart Prepaid.

New Smart Postpaid subscribers can avail of the iPhone 16 Series starting at Smart Postpaid Plans+ 999 with a low downpayment of P21,000 and a monthly amortization of only P1,300 under a 24-month contract.

Recontracting Smart Postpaid subscribers can get an iPhone 16 (128GB) with Smart Postpaid Plans+ 999 for only P2,121 per month for 24 months — without cashout. The device is also available for an even lower monthly amortization of P1,697 (subject to credit approval) on a 30-month contract. The plans come with UNLI 5G for 12 months, 20 GB of open access data, Netflix mobile subscription, Unlimited Texts, Calls to Mobile and Landline, and exclusive Smart Perks from select restaurants, shopping, beauty and travel partners.

On the other hand, Smart Infinity members may get the iPhone 16 Pro or iPhone16 Pro Max with their Infinity Plans, which comes with Unlimited Data, Texts & Calls, Data Roaming Packs, and Monthly Consumable Allocation plus a suite of exclusive privileges tailored to their premium lifestyle. Smart Infinity Plan 5000 and Plan 8000 members enjoy access to an Infinity Relationship Manager that handles all their account-related concerns, as well as 24/7 access to an Infinity Concierge, a dedicated hotline for round-the-clock mobile assistance and access to exclusive lifestyle events.

For customers who wish to purchase just the device, they may get the iPhone 16 handsets with Smart Prepaid for as low as P2,313 per month for 24 months at 0% monthly installment and with a Smart Prepaid bundle — FREE Smart Prepaid eSIM and FREE 16 GB data valid for 16 days. On the other hand, Home Credit users may pay for up to 15, 18, and 24 months for as low as P2,979 per month to get the latest iPhone from Smart.

Smart now offers a wide range of payment options in Smart Stores nationwide through partner banks and financing institutions. BDO, BPI, Metrobank credit card users can conveniently enjoy up to 12 months installment, while RCBC, Security Bank, and UnionBank credit card users can enjoy 12-month or 24-month installment options on their iPhone purchase with Smart. Home Credit representatives are also ready to accept device financing with flexible terms in select Smart Stores.

The latest iPhones are powered by Smart’s superior 5G mobile network, recently recognized for delivering the Philippines’ Best 5G Coverage Experience by independent network analytics from Opensignal.

For more updates, follow Smart’s pages on Facebook, Instagram, TikTok, X, and YouTube.

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