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Save the economy

Our economic managers had done a fairly good job until the pandemic struck. Although economic reforms towards improving the business climate and attracting foreign capital have been few and far between, they nonetheless managed to eke-out GDP growth of 6.4%, on average, in the last four years. Inflation was tamed, debt levels were controlled and poverty rates were declining.

But the economic team seems to have lost its way during the pandemic. In the early days of the quarantines, the Department of Finance (DoF) announced that the economy could still grow by .08%. A month later, it adjusted its forecast to -3.4%. In September, it adjusted its prognosis yet again to -6.6%. The frequent adjustments suggests miscalculations and a poor grasp of the situation, however volatile it may be.

In a webinar entitled “Philippine Economy Bounce Back Plan,” I distinctly recall being assured by the National Economic and Development Authority (NEDA) and the DoF that a V-shaped recovery was to be expected. The sharp recovery was said come on the back of the combined effects of increased infrastructure spending that would start in the third quarter, coupled with the pump-priming effects of a hefty stimulus fund.

Well, the Department of Budget and Management just announced that infrastructure spending actually plunged by 33% in the third quarter. This, coupled with the lockdown in August, resulted in the economy contracting by a massive 11.5%. Seems like NEDA and the DoF miscalculated infrastructure spending too.

With disappointing third quarter results, the Philippines is now infamous for clocking-in the most severe contraction in the region at 10% for the first nine months of the year. At the rate things are going, it is highly unlikely that the -6.6% forecast of NEDA will be attained. The IMF’s prediction of an 8.3% contraction seems more accurate. Either way, the Philippines will be the worst performer in ASEAN and among the worst in the world for 2020.

As if this were not bad enough, the DoF had appropriated the smallest stimulus fund in the region at only 5.88% of GDP. For context, the stimulus funds of our neighbors are at 10% of GDP for Vietnam, 18% for Indonesia, 22% for Malaysia, and 26% for Singapore. With this, we can expect our economic recovery to be the slowest in ASEAN. Even Bangko Sentral ng Pilipinas Governor Ben Diokono admits that it will take two years for the economy to approximate 2019 levels. With this, the country will fall further behind the region’s development race. How sad for us.

It is said that the DoF’s hesitance to increase the stimulus package stems from its aversion to acquire more debt since doing so may compromise our credit rating score. The last thing this administration wants is to end its term with a credit ranking lower than what it inherited. In other words, the decision to keep the stimulus package to a bare minimum is, in some part, motivated by politics, vanity, or both.

The lack of an appropriate response to the economic crisis has caused civil society to rise up and take action. In a simple ceremony, the Concerned Medical Doctors and Citizens of the Philippines (CDCPH) was recently formed with the purpose of asking the government to transition from a lockdown strategy to a focused protection strategy. The shift is a designed release of many parts of the economy from constriction. CDCPH President, Dr. Benigno Agbayani (Chairman of Orthopedics at the Manila Doctors Hospital), asserts that there is no need to uselessly repress our already battered economy by imposing excessive restrictions. There is room to relax and we should take advantage of it to allow the economy to recover.

The CDCPH has made representations to the Inter-Agency Task Force for the Management of Emerging Infectious Diseases  (commonly referred to as simply IATF) but it fell on deaf ears. It seems the IATF is not open to suggestions even if its militaristic antivirus response has already wrecked many parts of the economy without significantly controlling the virus’ spread. Hubris is a terrible thing.

Since the IATF refuses to grant an audience to the CDCPH, I will instead cite some of the CDCPH’s recommendations in this piece so that the public may know.

First among the recommendations relates to transport. As we all know, public transportation is the veins of the economy. If it is curtailed or blocked, commerce cannot flow. To this end, the CDCPH proposes a sensible system to restore 100% of public transportation capacity whilst still maintaining safety protocols.

Two lines are recommended for queuing and ticketing — one for the elderly, vulnerable and immunocompromised (known as EAVs) as well as people living or exposed to EAVs (known as PLEAVs), and the other for the general public.

Seating restrictions in public transportation will depend on whether there is a spike in infections and the available capacities in hospitals. If hospitals are operating at 75% of maximum capacity, transport shall exercise a strict one-seat-apart rule. If hospitals reach 90% capacity, then EAVs will not be allowed to use public transport. Other than that, buses and jeeps should be allowed to operate at 100% capacity for so long as there are plastic curtains between seats and strict mask wearing is enforced.

When it comes to public venues like markets, commercial centers, churches, and recreation facilities, the CDCPH recommends that special designated areas and/or time periods be made available for EAVs and PLAEVs. Other than that, public spaces should be allowed to operate at full capacity with proper mask wearing.

On traveling by land across borders, Dr. Agbayani argues that the virus is already endemic in most parts of the country and is present in our soil, sewers, and atmosphere. That said, road barriers and checkpoints are futile. To limit intercity or provincial travel, at this juncture, only disrupts supply chains. Road boundaries across the LGUs should be removed.

As for curfews and capacity control, the CDCPH maintains that setting time limits on business operations and curtailing capacities of commercial establishments does more economic damage than good in avoiding infections. Experts around the world say that for as long as mask wearing, hand washing, and social distancing are observed, the virus spread can be minimized, regardless of time and level of fullness of a commercial establishment.

Civil society is deeply concerned about the state of the economy and its poor prospects of recovery. We hope these concerns are taken into consideration by the authorities.

 

Andrew J. Masigan is an economist

andrew_rs@yahoo.com

Twitter@aj_masigan

Coherence towards a faster recovery and convergent growth: Vietnam as template

Blades of light piercing the dark COVID-19 clouds at last! The Pfizer, Moderna, and Astra-Zeneca vaccines are inching closer to altering for the better our post-COVID-19 near future. There are still formidable problems of access, financing, and logistics but we could soon be departing the territory of crippling catatonia. Our challenge is to craft a recovery that equips the economy towards long-term growth that leads to a speedier Organisation for Economic Co-operation and Development (OECD) membership.

I cannot, for example, wrap my brain around the timing of the Department of Finance-crafted and Senate-approved CREATE (Corporate Recovery and Tax Incentives for Enterprises) bill to give away P625 billion over five years (P42 billion this year alone) in tax revenues to large corporations while the government is scrimping on its anti-COVID-19 spending program and frantically scrounging to borrow P73.2 billion for vaccine purchase and administration!

Also a mystery to me is why the Bangko Sentral ng Pilipinas (BSP) is reducing the policy rate by 0.25% thus putting the real interest rate at -0.5% and risking another asset bubble, knowing that banks and corporations, rather than lending to the private sector, are flocking to riskless government assets. The three-month T-bill rate has dipped to 0.96%, still viewed as a better option than lending to SMSEs. I have always maintained the Keynes doctrine that in an economic crisis, money in the hands of the government is closer to effective demand and employment creation than money in the hands of the private sector whose bottom-line motive is best served with pro-cyclical behavior.

Finally, it is a puzzle to me that while we are trying to attract a bigger share of the re-balanced global FDI, we are stabbing Philippine Economic Zone Authority (PEZA) locators and exporters in the back with two daggers: a higher effective income tax rate via CREATE and an irresponsible peso appreciation. Incoherence, thy footprint is everywhere!

Vietnam by contrast is a template for coherence: not just in its anti-COVID-19 program but more especially in its chosen pathway for long-term post-COVID-19 growth. It is a safe bet that Vietnam will soon put the Philippines in its rear-view mirror if it hasn’t already, and beyond that attain the holy grail of development: convergence with the OECD community in three to four decades.

Vietnam has positioned itself as the premier direct foreign investment (DFI) destination in the world and they have come flocking. Why? Because coherence is the middle name of Vietnam’s investment ecology. What does the Vietnam package of policies contain? It has clearly and correctly decided to treat Tradables differently from Non-Tradables: Vietnam distinguishes between its new foreign investment (mostly Tradables and Manufacturing) and old investment (mostly Non-tradables). For the former, a 17% CIT for 10 years with a waver (0%) in the first two years and 8% for the next four reverting to 17% in the ultimate four years; a 20% CIT applies for the latter. While that is bold, it will be futile if export-oriented foreign investors know that they can lose the benefits through future currency appreciations. The Vietnamese authorities have signaled their commitment to reject the all-too-familiar and sneaky practice of “giving with one hand and taking away with the other” by resolutely refusing to let the Vietnamese Dong appreciate as shown by the 2020 trajectory of the Dong/US$. (See Figure 1.)

This is fortitude made manifest — in the face of Vietnam’s growing trade surplus and GIR and in defiance of the US Treasury Department probe to declare it a “currency manipulator” for allegedly undervaluing the Dong at 5% against the US dollar already in 2019 (Lawder D., 25 August 2020, https://fr.reuters.com/article/idUKL1N2FR159). Vietnam has effectively demonstrated to the world a credible commitment to live by its word to its foreign investors. Being able to give costly credible commitments to contract partners is the most important signal of stable governance. Global investors responded and how. This year to September, Vietnam received $14 billion DFI which is only 3% lower than that of 2019’s to September! UNCTAD reports a 24% drop in DFI for the Philippines and no better in the rest of the ASEAN region. The trajectory of the Philippines’ own peso-dollar exchange rate in the year of the pandemic 2020 stands in sharp contrast to that of Vietnam’s (see Figure 2).

The lack of backbone suggested by the Philippine peso/dollar trajectory in Figure 2 is actually the herd response in the region. Vietnam’s fortitudinous coherence stands out like a beacon and reaps its just rewards.

Since CREATE is almost a done deal, we should in future legislation work to correct its incoherent features: as long as we need foreign investors, we should make the corporate income tax (CIT) reduction for PEZA exporters 17% rather than 25% which applies to the rest. The CIT equivalence of the 5% gross income tax (GIT) is 17% CIT as per the Department of Finance (DoF) estimate, which is also the Vietnam rate for new entrants; we should partly remedy the supply push frailty of CREATE by making large corporations “earn” the CIT reduction bonanza by some investment pre-condition such as solar PV installation mounted on idle rooftops; we should counterbalance the inherent unfairness of CREATE by including a debt condonation provision for farmer beneficiaries of the Comprehensive Agrarian Reform Program. The bar against an exchange rate policy that coheres with our high investment ambition and with our keeping the faith with our export investors exists only in the minds of our central bankers. Needless to add, the Philippine economy could use a bigger anti-COVID-19 budget sought by Bayanihan III.

 

Raul V. Fabella is a retired professor of the UP School of Economics, a member of the National Academy of Science and Technology, and an honorary professor of the Asian Institute of Management. He gets his dopamine fix from bicycling and tending flowers with wife, Teena.

Co-processing: Addressing the nation’s waste management crisis

DUE TO rapid population growth and continued development in both urban and rural areas, the waste generated every day in the Philippines has steadily increased from over 37,000 tons per day in 2012 to over 40,000 tons per day in 2016. In Metro Manila alone, an average of over 9,000 tons of waste per day was recorded as of 2018. Of this, only 85% of the solid waste is collected and brought to landfills or dumpsites, while the remaining 15% remains uncollected and mostly ends up in waterways and bodies of water.

Despite the passage of Republic Act 9003 or the Ecological Solid Waste Management Act, solid waste management remains a major challenge in the country due to improper waste disposal, inefficient waste collection and the lack of disposal facilities.

Now more than ever, co-processing presents a viable waste management solution to help address this public health and environmental concern. It entails the use of waste as either raw material or source of energy — or both — in industrial processes, especially in energy-intensive sectors. With the reuse or recovery of the thermal and mineral properties of qualified waste materials, natural mineral sources are conserved and non-renewable energy sources such as fossil fuel are avoided.

Since the early 2000s, Republic Cement has been utilizing the cement kiln co-processing method. Pre- and post-consumer waste, primarily plastic, is gathered efficiently in partnership with local government units as well as fast-moving consumer goods (FMCG) manufacturers.

In a single combined operation in the kiln or the main cement production chamber, co-processing completely destroys the qualified waste-turned-fuel at optimal temperatures of 1,450 degrees Celsius. Any waste byproducts such as ash are fully integrated into the microstructures of the clinker, a key ingredient of cement. Upon exiting the kiln, the clinker is quenched and quickly cooled, ensuring complete stability without any other ash residue. Any noxious gases produced are also completely controlled because of the gas and material counterflow within the cement kiln and pollution control devices.

The recovered minerals are similar to the chemical composition of sand and clay, and effectively replace traditional raw materials used in cement production.

While co-processing involves the application of heat to destroy waste, it is distinct from incineration. In cement kiln co-processing, fumes are contained and managed within the kiln and the ash is effectively reused as raw material for cement. Meanwhile, some forms of incineration are purely for waste disposal without any energy or material recovery aspects. There is a higher chance of noxious gases being released into the atmosphere and the ash byproduct usually still ends up in landfills.

Landfilling produces leachate, a highly toxic substance that can pollute land, ground water, and waterways. The decomposition of waste in the landfill also produces greenhouse gases. In the waste management hierarchy, methods such as prevention, minimization, and recovery of materials through recycling and reusing are still preferred over co-processing. However, when these options are no longer available, co-processing remains preferred over unsustainable methods such as incineration, chemical and physical treatment of waste, and landfilling.

The promise of cement kiln co-processing as an institutionalized process in the industry is its far-reaching, collective nature — necessitating collaboration and partnership with other industries and sectors to address the problem of waste at its sources as much as possible. It presents a long-term, sustainable solution that has a massive impact in terms of waste management, environmental conservation, and decarbonization.

Most importantly, it helps keep the local construction materials industry alive and less dependent on external factors such as the geopolitics of fossil fuels and the dangers of substandard imported products. Co-processing is a compelling case for building resiliency, not only of the industry, but overall paves a clear path towards a greener and stronger republic.

 

Angela Edralin-Valencia is the director of Ecoloop, the co-processing arm of Republic Cement. The cement manufacturer is a partnership between diversified Filipino business conglomerate Aboitiz and leading building materials company CRH headquartered in Ireland.

CREATE: Crossing the finish line

On Nov. 26, the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill was passed on third and final reading in the Senate, marking the end of more than two decades of struggle for fiscal incentive reform.

CREATE, first and foremost, is a structural reform measure for the governance of incentives that are time-bound, performance-based, and transparent. As it is a structural reform, the biggest benefits will be cumulative in the long term.

It also addresses the reality of tax competitiveness among emerging markets, especially in the ASEAN region. CREATE lowers the corporate income tax rate, bringing the Philippines closer to the ASEAN average of 23%. The combination of fiscal incentive rationalization and a lower corporate income tax will boost both tax efficiency and investment promotion.

It also serves as a short-term stimulus by giving immediate relief to businesses, which will then spill over to their employees.

Formerly known as the Corporate Income Tax Incentives Rationalization Act (CITIRA) and the Tax Reform for Attracting Better and High-Quality Opportunities (TRABAHO) bill, CREATE has always been met with controversy and opposition from the Philippine Economic Zone Authority (PEZA) locators, foreign chambers of commerce, and some senators. Its provisions that modernize and rationalize our fiscal incentive system have drawn the most flak from these groups.

Up until the very end, the saga of CREATE was a nail-biter. At around 11 p.m. on Nov. 25, the night the Senate planned to finalize key amendments and vote on the bill, Senator Richard Gordon asked to delay its passage until the next morning so he could craft and propose some last minute amendments.

Senator Gordon delivered a long, impassioned speech, even tearing up at one point. He feared that the new fiscal incentive regime would bring about job losses for the Subic Bay Metropolitan Authority (SBMA), which he formerly chaired. He questioned the need for the Fiscal Incentives Review Board (FIRB) and its power to approve or disapprove incentives, saying this would impede the autonomy of local government units. The next morning, he proposed that the SBMA, Aurora Pacific Economic Zone and Freeport (APECO), Tourism Infrastructure and Enterprise Zone Authority (TIEZA), and other ecozones be exempted from the bill, and consequently, FIRB jurisdiction.

But the bill’s sponsor, Senator Pia Cayetano, Senate President pro tempore Ralph Recto, and the Department of Finance had already settled on a compromise on the bill’s provisions on incentives. This compromise came in the form of differentiating the treatment of domestic industries and exporters when it came to availing of incentives. Senator Cayetano emphasized that Gordon’s proposal of exempting certain ecozones from FIRB jurisdiction would defeat the purpose of rationalizing fiscal incentives.

And so Gordon’s proposals, which would have majorly diluted the reform (and would have likely led to a veto from the President), were rejected by both Senator Cayetano and the Senate body. CREATE was finally passed later on that day.

Senator Gordon was not the only senator who proposed controversial amendments. Senator Ralph Recto introduced dual rates for corporate income taxes, which we believe makes the tax system prone to gaming and tax evasion. However, looking at the big picture, we see that the gains outweigh the costs.

All in all, CREATE has achieved its main goal of making incentives targeted, time-bound, and performance-based, and rationalizing the governance of incentives through the Fiscal Incentives Review Board. The sharp reduction of corporate income tax is also significant, as it acts as a stimulus measure amid the pandemic-induced recession and makes Philippine businesses more competitive in the long run.

CREATE provides temporary stimulus measures to respond to the global economic downturn. These include VAT exemption for medicine, vaccines, and medical equipment for COVID-19, and the reduction of the minimum corporate income tax from 2% to 1%.

The passage of CREATE removes policy uncertainty, which has prevented investors from locating in the Philippines for the past years. The new incentive system will provide clarity for both foreign and domestic investors. We also hope to capitalize on CREATE to attract investments from manufacturers looking to exit China and move production sites to Southeast Asia.

Throughout the months of debate on CREATE, what stood out was the diligence of the sponsor of the bill and the Chairperson of the Senate Committee on Ways and Means, Senator Pia Cayetano. Despite the unpopularity and difficulty of tax reform as an advocacy, Senator Pia worked with urgency and dedication to defend the bill. On the Senate floor, she said the amendments she accepted provided “a balance between the need to rationalize our incentives and to provide an environment to keep businesses thriving.”

The struggle to pass CREATE was long and arduous, marked with numerous delays and jockeying from certain interests. It is commendable that after decades of pushing to restructure our outdated fiscal incentive system, reform is finally here, in the form of a strong bill that will hopefully revitalize our economy.

 

Pia Rodrigo, a political science graduate of Ateneo de Manila University, is the communications officer of Action for Economic Reforms

www.aer.ph

Gilas Pilipinas out to sweep Thailand in Manama window

By Michael Angelo S. Murillo, Senior Reporter

DOMINANT in its first outing in the November window of the 2021 International Basketball Association (FIBA) Asia Cup Qualifiers, Gilas Pilipinas looks to complete a sweep of Thailand when the teams collide on Monday in Manama, Bahrain.

Opened its bid with a resounding 93-61 victory on Friday, the youth-laden Gilas crew is out to blank the Thais in their two-game series and keep its record in the qualifiers intact.

Ateneo recruit Dwight Ramos led the charge for the Philippines in the first game, finishing with 20 points on a perfect seven-of-seven shooting, to go along with seven rebounds, three assists and three steals.

It was a tight contest in the opening quarter, with the Philippines up by just two points, 21-19.

But Jong Uichico-coached Gilas blew the game wide open after by outscoring the Thais, 32-10, in the second canto and never looked back from there.

Justine Baltazar of La Salle and Juan Gomez de Liano of the University of the Philippines (UP) tallied 12 points apiece for Gilas.

University of the East’s Rey Suerte and UP’s Javi Gomez de Liano, meanwhile, each had nine markers.

For Thailand, which played sans star Tyler Lamb, it was Montien Womgsawangtham who showed the way with 17 points, followed by Nakorn Jaisanuk with 12.

The win pushed the Philippines (2-0) to a share of the lead in Group A of the qualifiers with Korea (2-0) while Thailand, which also lost to Indonesia (1-2), 90-76, on Saturday, now sports a 0-3 record.   

“This is a good opportunity to showcase what our young players can do, but we are out to compete and win,” said the Samahang Basketbol ng Pilipinas of its decision to field in a team composed of amateur and collegiate stars in the lead-up to the November window of the Asia Cup qualifiers.

Also part of the Gilas team are Matt and Mike Nieto, Isaac Go, Will Navarro, Calvin Oftana, Kenmark Carino, Dave Ildefonso, Jaydee Tungcab, and Kobe Paras.

In the qualifiers, only the top two teams from the groups advance to the 2021 FIBA Asia Cup in August.

Gilas versus Thailand will be broadcast live over One Sports and ONE Sports+ at 9 p.m. (Manila time).

Al Panlilio looks to do more for athletes now as a POC official

ALREADY wearing a number of hats in the corporate and sports worlds, PLDT Chief Revenue Officer and Smart Communications, Inc. President and Chief Executive Officer Alfredo S. Panlilio added another one — first vice-president of the Philippine Olympic Committee (POC).

It is a new role that Mr. Panlilio, also the president of the Samahang Basketbol ng Pilipinas, Inc. (SBP), shared is going to be a challenge but something he is looking forward to taking on as it would allow him to do more for Filipino athletes.

Mr. Panlilio was voted into the POC position in elections held on Friday.

Also winning were Stephen Hontiveros (chairman), Abraham Tolentino (president), Richard Gomez (second vice-president), Chito Loyzaga (auditor), Cynthia Carrion-Norton (treasurer), David Carter, Raul Canlas, Charlie Ho, and Pearl Managuelod (executive board members).

The PLDT-Smart official ran under the ticket of Mr. Tolentino and beat Philip Ella Juico of athletics for the first vice-president position, 30-23. He will begin his four-year POC term on Jan. 1, 2021.

“We are here to serve and not be served. We want to serve, especially the athletes,” said Mr. Panlilio following his election win.

He went on to say that part of their mission in the POC is to make it a stronger organization, anchored only on the best values and practices, something he said they strive for in PLDT and Smart as well as in the SBP.

“We want to bring professionalism, accountability, and good governance to the table. We want to put in the proper policies for the athletes and the people who represent our country in the field of sports,” he said.

Mr. Panlilio also shared that he does not see working in the POC as too much of a burden, underscoring the value of teamwork to get things done and achieve goals.

“Well, I have to manage my time well for sure. But working with good teams would be very helpful. You cannot do it alone,” he said.

“That’s true for the SBP. That’s true for PLDT and Smart. I’m also part of the NGAP (National Golf Association of the Philippines). We have to work together. At the end of the day, this (POC) team will have to perform together like in any sport. We have to excel and work to achieve progress,” added Mr. Panlilio. — Michael Angelo S. Murillo

NBA sets preseason schedule

THE National Basketball Association (NBA) set in place a 49-game preseason schedule on Friday, with practice games taking place Dec. 11-19 in advance of the Dec. 22 start to the regular season.

Each team will play at least two preseason games, with the NBA champion Los Angeles Lakers playing four times before the delayed regular season gets underway just before Christmas.

Five games are scheduled for the Dec. 11 opening night of preseason games, highlighted by a matchup between the Lakers and Los Angeles Clippers. The rivals, who each play at the Staples Center, will play each other two times. The Lakers also will play the Phoenix Suns twice.

The Toronto Raptors will play three preseason games, including a home game at Amalie Arena in Tampa, FL. The Raptors will begin the regular season with home games at Tampa after the Canadian government ruled that the team would not be able to host opponents in its own arena.

Each team will play 72 regular-season games in 2020-21, 10 shy of a typical season.

The NBA will release the regular-season schedule in two segments. The schedule for the first half of the season is expected to be released in the coming days. A second-half schedule will be released later and includes any first-half games that had to be postponed because of COVID-19 concerns. — Reuters

PBA grateful to stakeholders in making bubble a success

THE Philippine Basketball Association (PBA) tournament “bubble” at Clark City in Angeles, Pampanga, is now in its homestretch and has proven to be a success, something the league is very grateful for, giving credit to the cooperation of stakeholders, particularly the players and coaches.

From a full complement of 12 teams in the restart in October, competition in the PBA Philippine Cup is now down to two teams, with the Barangay Ginebra San Miguel Kings and the TNT Tropang Giga getting their best-of-seven finals series going later on Sunday.

The finals series is the culmination of the PBA wanting to squeeze in at least a conference in its coronavirus pandemic-hit season, going the bubble way where it had all tournament participants holed up in a specific area for a duration of time.

This is to allow them to have a close contact in a very defined and exclusive setup to guard against the spread of the coronavirus and operate with less disruption.

While the bubble had its hiccups, especially in the early goings, including a player and a referee initially testing positive for the virus, the PBA has managed to overcome them and has seen its vision for the bubble, by and large, fulfilled.

“Yes. I’m satisfied [with the way the bubble has turned out],” said PBA Commissioner Willie Marcial on the Power & Play with Noli Eala radio program on Saturday.

“I give credit to the players for giving their all during the games and cooperating. They are not holding back on their play. And the coaches, who did not complain about the scheduling where we had them playing almost every day,” said the PBA chief.

He also threw praises to the management and staff of the Clark Development Corp. and the Bases Conversion and Development Authority for hosting them and guiding the league, especially when it hit a rough patch.

“We are lucky we are in Clark. The security is strict to ensure the integrity of the bubble. They have put up good protocols for us to follow. We initially had hiccups with the early positive cases, but with the help of the CDC and BCDA, we were able to deal with them accordingly. And we’re happy to report that there have been no positive cases since then,” Mr Marcial added.

The PBA decided to suspend its 45th season in March as the coronavirus started to make its presence felt in the country.

On Oct. 11, the league started with its bubble, with the Angeles University Foundation Sports Arena serving as the official game venue and the Quest Plus Hotel inside Mimosa serving as home to the 350-strong PBA delegation. — Michael Angelo S. Murillo

Miami Heat sign Bam Adebayo to mega deal, also ink Udonis Haslem

THE Miami Heat reached deals Saturday with two players from their National Basketball Association (NBA) Finals squad, signing center/forward Bam Adebayo to the richest deal in franchise history, while also coming to terms on a one-year deal with veteran forward Udonis Haslem.

Adebayo, 23, officially agreed to a five-year, $163 million deal with escalator clauses that could take it has high as $195 million, multiple outlets reported. Escalators include earning a spot on the All-NBA team, or earning an MVP or defensive player of the year in the upcoming season.

The deal tops the previous high when Jimmy Butler signed a $141 million pact with the team.

Adebayo will make $5.1 million in the upcoming season on the final year of his rookie deal before his season-salary jumps north of $28 million for the 2021-22 season.

Adebayo had a breakout 2019-20 season when he averaged 15.9 points with 10.2 rebounds and 5.1 assists. He was even better in the playoffs with 17.8 points and 10.3 rebounds, while adding 4.4 assists in 19 of the team’s 21 playoff games.

The Heat fell just short of an NBA title this past season, losing to the Los Angeles Lakers during a six-game Finals series.

Miami re-signed Haslem to a $2.6 million veteran minimum deal, according to the Miami Herald. The deal means the 40-year-old will return for his 18th season, all of them with the Heat. — Reuters

Silly-season event

As a silly-season event, The Match: Champions for Charity could not have been more successful. First, it had as participants crossover stars, and arguably the four biggest, from two sports. Second, it had a format that lent well to remote appreciation; with the novel coronavirus pandemic still requiring quarantine protocols that prevented spectators to be on site, it provided ample opportunity for spectacular golf, not to mention friendly ribbing. And, third, it had a good cause; it wound up raising a whopping $20 million to fund COVID-19 relief efforts.

The Match: Champions for Charity ended up generating the highest ratings in cable recession history. And because it managed to exceed already oversized expectations, plans were naturally drawn up for a third iteration. There was one problem, however. The very factors that turned it into a certified hit likewise served to make it untenable for its biggest draw. Indeed, Tiger Woods proved, at best, to be a grudging party to the endless ribbing among the competitors. Make no mistake; he could dish it out just as well as Phil Mickelson, Tom Brady, and Peyton Manning did. He just didn’t want to in front of the cameras. Moving forward, the producers were left with no choice but to exclude him from plans.

In the absence of the extremely private Woods, The Match III: Champions for Change was green-lit with just about nothing left sacred. That Charles Barkley, whose claim to fame involved a notorious hitch that even weekend hackers did not possess, would be tapped was a masterstroke in counter-programming; what skills he lacked while he was swinging a club, he more than made up for in the times he wasn’t. Meanwhile, Mickelson and Manning remained naturals with cameras and microphones nearby, while newcomer Steph Curry had both the low handicap and affable personality to complete the foursome.

Not that Woods didn’t have any presence at all in the Thanksgiving feature. Six months removed from his starring role in the previous event, he got things going with presents for Barkley; he gave the hoops Hall of Famer a traffic cone, a reflectorized vest, and an airhorn — all for assistance in anticipated trouble. The results, however, showed that The Round Mound of Up and Down needed no such gear. Pride got the better of the temptation for self-deprecation, and tons of practice prior to the exhibition paid off.

Indeed, Barkley would go on to win, thanks in large measure to a great start that more than made up for a shaky finish. He had a perfect partner in Mickelson, whose predisposition to teach, and teach, and teach, served him in good stead, calming his nerves under pressure and becoming his sounding board in serious and funny moments alike. To be sure, it helped his cause that Curry and Manning played well below prognoses and thus tilted the odds in his favor. Looking back, he can hold his head high and say he did better — make that much better — than them.

Granted, Barkley wasn’t perfect. Far from it. He still had shots and shanks that he would have liked to take back. That said, he was shocking steady early on, and then often enough, to acquit himself on the course. He and Mickelson won with plenty to spare, and he left Stone Canyon with a deserved smile on his face. In surviving the heckles from his Inside The NBA co-hosts, he made all and sundry remember that golf is entertainment, too. He also made all and sundry forget about Woods, even for just a while.

 

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.

San Francisco sets new curbs, faces ‘dangerous’ period

SAN FRANCISCO was moved to the most restrictive tier by California following a jump in coronavirus cases, prompting a slew of new measures across the city.

“I don’t know how to be more clear — this is the most dangerous time we’ve faced during this pandemic,” said Mayor London Breed.

The new restrictions kicked off Sunday, starting with the closure of movie theaters, gyms, museums, zoos and aquariums, and even houses of worship — a move resisted by Los Angeles on Friday. The capacity at indoor stores, including pharmacies, will be cut by half to 25%.

Outdoor entertainment activities including carousels, ferris wheels, train rides and trampolines will also be shut, though playgrounds, mini-golf, skate parks and batting cages can still operate. Schools that have already opened will be able to stay open. Along with most of the state that faced new restrictions, the 10 p.m. overnight curfew will also start Monday, the city said.

The move is hitting San Francisco just as Thanksgiving kicked off the holiday season, with an expected increase in travel and retail activity. The city also advised its residents against leaving the county and recommended a 14-day quarantine for anyone who has traveled out of the state.

San Francisco county has had over 15,000 coronavirus cases and 160 deaths, much lower than many other parts of California. In all, the state has had over 1.1 million COVID-19 cases and over 19,000 deaths.

A number of California counties were also moved into the most restrictive “purple” tier, including neighboring San Mateo county, where the San Francisco International Airport is located. — Bloomberg

S.Korea mulls stricter social distancing amid virus spike

SEOUL — South Korean authorities will consider tighter social distancing restrictions on Sunday to clamp down on economic activities after last week saw the fastest spread of infections since the early days of the coronavirus disease 2019 (COVID-19) pandemic.

Prime Minister Chung Sye-kyun is to meet with health authority officials at 3 p.m. (0600 GMT) to decide whether virus curbs need to be tightened further to slow transmissions, Yonhap News said.

South Korea reported 450 infections of the new coronavirus on Sunday after reporting more than 500 new coronavirus cases for three days in a row, according to the Korea Disease Control and Prevention Agency.

This third wave marks the highest level of infections in nearly nine months.

South Korea on Tuesday began applying Level 2 social distancing rules, the third-highest in the country’s five-tier system, in greater Seoul area. — Reuters

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