Facebook Instagram Linkedin X Youtube
Home Blog Page 8813

PHL pavilion at Dubai expo nearing completion

THE Philippine pavilion for the rescheduled Dubai World Expo is nearly complete, a trade official said.

Philippine Commercial Attaché to the Middle East and Africa Charmaine Mignon S. Yalong said that 70% of construction work has been finished.

“By December we expect that the pavilion shell and core will be completed,” she said at an online Philexport meeting on Tuesday.

The government is spending an estimated P800 million to build, maintain, and promote Philippine creative goods at the six-month event, the Department of Trade and Industry said at the media launch last year. The 192-nation expo is expected to attract 25 million visitors.

The Philippine pavilion plot spans more than 3,000 square meters with the structure containing almost 1,400 square meters.

The government is aiming to promote the Philippine brand, trade and investment through business-to-business contacts, and improve business-to-consumer engagement through commercial shops and fairs, Ms. Yalong said.

The Philippines will be highlighted at its expo “national day” on Feb. 11, 2022. The rescheduled 2020 Expo will itself open in October 2021.

The Dubai World Expo was rebranded to “The Safest and Most Connected Show on Earth” from “The World’s Greatest Show” due to the pandemic.

The United Arab Emirates has recorded more than 150,000 COVID-19 cases, with 534 deaths.

The Philippines previously participated in World Expos in Shanghai in 2010 and Yeosu, South Korea in 2012. — Jenina P. Ibañez

Rice researchers urged to focus on heat resistance

THE GOVERNMENT needs to focus rice research on rice varieties that can tolerate high temperatures in anticipation of the rise in global temperatures due to climate change, the Philippine Rice Research Institute (PhilRice) said.

In a webinar organized by the Department of Science and Technology-National Research Council of the Philippines, PhilRice Chief Science Research Specialist Norvie L. Manigbas said that high temperature stress is one of the key issues affecting rice production in the Philippines.

“If high temperature persists, which is predicted to increase by 1.1-2.4 degrees Celsius in the coming decades, future rice varieties should have the tolerance trait… heat stress can cause yield declines of up to 14% in susceptible varieties,” Mr. Manigbas said.

“I think the government should prioritize strengthening the research and development programs not only for high temperatures, but also for multi-trait abiotic stress rice improvement like drought, salinity, and submergence,” he added.

Mr. Manigbas said rice usually thrives at around 20 to 35 degrees Celsius, but becomes increasingly sensitive when temperatures rise above 35 degrees Celsius, especially during its reproductive stage.

According to PhilRice, temperature in fields across the country average 35 degrees Celsius or more, affecting production.

To counter rising global temperatures, Mr. Manigbas said the adoption of cultivars resistant to high temperatures is one of the most effective measures to maintain yields, adding that output will inevitably decline if there are no improvements made to old rice varieties.

Mr. Manigbas said high temperatures during the crop’s reproductive stage can also cause chalkiness in the grains.

The chalkiness results in more broken grains during milling, which affects milling yield, quality, and price.

Manigbas said new heat-tolerant rice varieties are still being evaluated by the Department of Agriculture.

Once approved, the new varieties will be deployed to fields in high temperature areas such as the Cagayan Valley and Camarines Sur in time for the 2021 dry season cropping.

There were 312 rice varieties released in the Philippines between 1990 and 2019, with 15 new varieties set to be released this year. — Revin Mikhael D. Ochave

Consolidated House bill to upgrade building code hurdles TWG

A TECHNICAL working group (TWG) organized by the House committee on public works and highways has cleared a consolidated bill proposing to repeal the 43-year-old building code and replace it with one that will ensure that structures are more resistant to calamities.

“As Chairman of the TWG tasked to deliberate on the various bills concerning the update on the National Building Code, which we now propose to be called the Philippine Building Act (PBA) of 2020, we have accomplished the task of coming up with a consolidated final draft bill which we will be submitting to the mother committee on Thursday, Nov. 19, 2020,” Construction Workers Solidarity Party-list Representative Romeo S. Momo, Sr., one of the bill’s principal authors, said in a statement Wednesday.

Mr. Momo said the still unnumbered bill repeals Presidential Decree No. 1096 or the National Building Code of the Philippines, which would give the country “a new building code that is responsive to the changing times.”

The bill’s purpose is “to ensure safe, liveable and environment-friendly structures, vis a vis the natural and man-made calamities the nation is facing every now and then,” he said.

Mr. Momo said the consolidated bill has a provision requiring an assessment of the design and integrity of buildings and structures completed on or before 2005.

“Under the proposed measure, public and private buildings and structures will be put under a classification system based on their type of construction, according to fire resistance rating; use or occupancy; and  required track of permitting process,” Mr. Momo said.

The measure creates a National Building Office to be headed by the Secretary of the Department of Public Works and Highways.

After the inspection has been performed, “building owners are to submit the certifications or findings of appropriate Building Professionals, serving as recognized certifiers, to the concerned Local Building Officials regarding the state of such buildings and structures and their safety and/or need for retrofit.” Mr. Momo said.

The bill also creates a Building Regulations and Standards Council, “which shall appoint Local building officials and members of the Regional Building Appeals Boards.” — Kyle Aristophere T. Atienza

Financial stability council on alert for ‘slow-burn’ contagion as liquidity pressures spread

THE PANDEMIC has stressed corporate finances, raising the possibility of a “slow burn” contagion that could spread across industries as individual firms falter, according to a report issued by the Financial Stability Coordination Council (FSCC).

The FSCC said in its Financial Stability Report that liquidity remains ample because the authorities responded quickly with policies boosting liquidity, but added that it remains wary of the spread of liquidity risk to less vulnerable sectors.

FSCC Chairman and Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the council will gauge exit strategies from the expansionary stance taken during the crisis, while assessing systemic risk factors, particularly small events with the potential to trigger severe instability within entire industries or even the economy.

“I will point out that local conditions matter most in deciding on the timing of the exit,” Mr. Diokno said at the launch of the report Wednesday.

The report also noted how pandemics have long-lasting effects based on historical data.

“At the level of pandemics, the longer-term effect attributed by studies on the Spanish Flu include lower incomes, lower educational attainment, greater physical disabilities, and a greater need for government funding support,” it said.

Looking through earnings of some 234 listed firms, the FSCC found that data on earnings before interest and taxes showed a rising number of firms have reported losses in consecutive periods since the end of 2019.

“Findings indicate that financial difficulties were already present but COVID-19 provided an additional strain on corporate finances,” the report said.

“With debt obligations even before the COVID-19 outbreak, this weaker business results have deeper implications over the near and medium-term,” it added.

While this trend does not necessarily imply company failures, the FSCC said liquidity concerns could escalate, and in certain conditions, become a solvency crisis.

“This converts a one-off operating anomaly into a viability concern, from  temporary to structural effects,” it said.

While the banking industry remains resilient despite the impact of COVID-19, there is still no place for complacency when liquidity risks have become a more urgent discussion, according to Philippine Deposit Insurance Corp. President Roberto B. Tan.

“The deposit insurance fund is adequate based on the model that we are adopting. But we are again updating this model so that we can come up with a more responsive one,” Mr. Tan said.

On the consumer side, the FSCC said that aside from lost income, the recovery of cash flow is also a looming concern. The impact will be uneven, with those “already economically vulnerable” facing greater challenges.

“The natural recourse when recurring income is curtailed is to fall back on household saving. Unfortunately, this is where demographic differences are quite stark, weighing heavier against households which are already vulnerable by their limited financial means,” the report said.

Insurance Commissioner Dennis B. Funa noted how the income squeeze affects savings, and in turn, funds available for investment.

“We need to address the unique requirements of our stakeholders who are naturally long-term investors. We must rely on this ability of markets, the availability of their underlying instruments and the reliability of risk valuations,” Mr. Funa said.

Given the decline in incomes for both corporations and households, the FSCC said there are clear indications of heightened risk aversion.

In the capital market, this risk aversion is apparent in corporate issuers leaning mostly to shorter-term tenors that will be ideal for operations and boosting liquidity rather than capital expenditure.

“Issuers are facing discerning investors who are searching for yield, the same investors who are deciding between mobilizing or retaining liquidity,” Securities and Exchange Commission Chairman Emilio B. Aquino said.

The FSCC is an inter-agency body composed of representatives of the BSP, the Department of Finance, the Insurance Commission, the Philippine Deposit Insurance Corp., and the Securities and Exchange Commission. — Luz Wendy T. Noble

House approves 35-hour workweek bill on second reading

THE House of Representatives approved on second reading a bill authorizing voluntary employment arrangements for private-sector employees capping their hours at 35 per week.

The House on Wednesday approved House Bill No. 309, which amends the Labor Code. The code sets an eight-hour cap on the workday or 40 hours per week.

The new scheme can be entered into voluntarily and is subject to an agreement between management and the worker.

Under the bill, employees on the 35-hour schedule are still entitled to overtime, night differential pay rates, and rest days. — Kyle Aristophere T. Atienza

Deconstructing the tax guidelines on the destruction/disposal of inventory

In a few weeks, 2020 will draw to a close. It is time for corporate taxpayers to revisit their accounts to ascertain that all necessary year-end adjustments are effected and appropriate tax considerations are evaluated before finally closing their books of account. One of the items worth reviewing is the cost of damaged or obsolete inventory written off.

Losses incurred by businesses may be claimed as deductions for income tax purposes under Sections 94 and 96 of Revenue Regulations (RR) No. 2-40. For losses to be generally allowed as deductions, they must: (1) actually be sustained and written off during the year; (2) not compensated for by insurance; and (3) be evidenced by closed and completed transactions.

In theory, the requirements for deductibility seem straightforward. In practice, however, the deduction is only allowed if the Bureau of Internal Revenue (BIR) issues a Certificate of Deductibility of Inventory or Asset Loss. Consequently, the bureaucratic process created concerns among taxpayers. For instance, the taxpayer incurs additional storage costs if the disposal/destruction is put on hold due to unavailability of the designated BIR representative who must witness the destruction. Moreover, the deductions may be disallowed due to the delay in the issuance of the certificate by the BIR.

With the issuance of Revenue Memorandum Order (RMO) No. 21-2020 in July, the policies, guidelines and procedures for the inspection of the destruction/disposal of inventory of goods/assets were streamlined.

Some of the significant revisions and updates in RMO 21-2020 (amending RMO 6-2012) are the inclusion of the timeline to submit the application (i.e., at least seven days before the proposed date of destruction/disposal of the inventory) and when to schedule the destruction of inventory/assets (i.e., on regular working days; weekends must be approved by the BIR). Further, the RMO also clarified that the value of the inventory or asset to be destroyed will be the actual cost. In the case of fixed assets, the carrying value must be used.

For the destruction/disposal of goods, products, and articles subject to Excise Tax, an authorized BIR official from the Excise Tax Division of the Large Taxpayers will be designated to witness/validate the process.

It is also noteworthy that the RMO now provides the taxpayer with an option on who may witness the destruction of inventory or assets, subject to the BIR’s approval. Together with the application for destruction, the taxpayer must submit a letter stating the intention to avail of the services of a third party, who may either be a BIR accredited tax practitioner or external auditor, as a witness to the destruction/disposal.

After the destruction/disposal of the inventory/assets, the taxpayer must submit a Sworn Declaration of Asset Disposal, together with a video, photo files of the activity taken before, during and after the destruction of inventory, and the latest audited financial statements. Also, the taxpayer must submit a notarized Sworn Statement executed by the third party who witnessed the process of destruction stating the accuracy as to the quantity of the items and the manner of destruction of inventory in case the destruction was witnessed by the third party.  The complete documents must be submitted to the BIR Office where the principal place of business of the taxpayers is registered within three days after the actual destruction. After verification, the BIR is to issue the Certificate of Deductibility of Goods/Assets Destructed/Disposed within five days from the date of submission of the complete documents of destruction/disposal.

The detailed procedures under the RMO facilitate the efficient preparation of all requirements and ensure completeness, thereby avoiding delays and rejections in the application process. On the part of the BIR, it can easily scrutinize the application and determine the appropriate manner of witnessing the destruction or disposal, which may either be physical, virtual or through the optional third party witnessing.

Based on the foregoing, taxpayers and the BIR can now set aside arguments during the tax audit. It may perhaps avoid disputes arising from the ruling of the Court of Tax Appeals that a certification from the BIR of the actual destruction of the claimed obsolete inventory is not necessary to claim the cost of inventory loss provided that competent documentary evidence establishes the amount claimed as losses. It is hoped that with clear-cut guidelines and shortened timeframes, delays in the release of the certificate will be minimized and thus also address the issue of deduction timing.

Although the policies and guidelines on the destruction/disposal of inventory of goods/assets were issued due to the pandemic, it should prove useful even past the pandemic because it could help expedite the process because of the option for the third party witness.

I trust that corporate taxpayers will find the above guidelines useful and start to plan ahead for their year-end closing activities.

The views or opinions expressed in this article are solely those of the author and do not necessarily represent those of Isla Lipana & Co. The content is for general information purposes only, and should not be used as a substitute for specific advice.

 

Maybellyn O. Pinpin-Malayao is a senior manager with the Client Accounting Services group of Isla Lipana & Co., the Philippine member firm of the PwC network.

+63 (2) 8845-2728

maybellyn.o.pinpin@pwc.com

Team Lakay adjusting to the call of the times

RECOGNIZING that ONE Championship is no longer the same promotion it saw when it first joined the group nearly a decade ago, Baguio-based Team Lakay is doing its best to adjust to the call of the times for its fighters to compete at a better footing.

With Asia’s largest media property becoming a prime destination now for some of the best fighters not only in the region but from different parts of the world who bring varying skills set, Team Lakay knows that its work has become tougher but shared that it has been shaping up to address it.

“As ONE undergoes changes, so do us at Team Lakay,” said team coach Mark Sangiao in an online interview session with local media on Monday.

“Our mission is to continue to level up our game to better compete in the promotion and not be left behind by the other countries,” he added.

Among the ways Team Lakay is going about it is adding more trainers to cover more bases, Mr. Sangiao said, as well as carefully scheduling their training so as to have less disruption.

“We have a classification of our athletes. We have elite athletes of the team, Class A, B, and C. We try to classify them and try to separate the training of those who have fights,” Mr. Sangiao said.

Since being part of ONE in 2012, Team Lakay has done well in the promotion, producing five champions to date.

Honorio “The Rock” Banario was the first ONE champion from Team Lakay, bagging the world featherweight title in 2013.

Following suit in 2016 was Eduard “Landslide” Folayang, taking home the world lightweight belt and winning it once again in 2018.

The Year 2018 also saw three other Lakay fighters grab world titles in Geje “Gravity” Eustaquio (flyweight), Kevin “The Silencer” Belingon (bantamweight), and Joshua “The Passion” Pacio (strawweight).

Currently, it is only Mr. Pacio who is a titleholder, but Team Lakay warriors remain contenders in different weight divisions.

“The fighters right now are beasts with tremendous skills. The level of competition is very high and we really have to stay at par with the field,” underscored Mr. Eustaquio, who joined Mr. Sangiao in the media availability.

Mr. Eustaquio won his last fight Friday at “ONE: Inside The Matrix III” in Singapore, beating South Korean Song Min Jong by unanimous decision. It was his second straight win.

Moving ahead, Mr. Sangiao assured that Team Lakay will continue to up its game and inspire and develop more talents to represent and bring pride to the country on the international stage.

“We would like to thank the fans and sponsors who are with us and have our backs. Just continue believing and praying for the team.” — Michael Angelo S. Murillo

NBA expands 2021 playoffs with play-in games

THE 2020-21 NBA postseason will be expanded to include a play-in tournament in each conference, the league announced Tuesday.

The pandemic-shortened regular season, reduced to 72 games, will start Dec. 22, and the postseason will open begin May 18.

Ten teams in each conference will advance to the postseason, with teams seeded seventh through 10th participating in a play-in tournament to gain admission to the conference playoffs.

The COVID-19-truncated 2019-20 season necessitated a delayed start to the coming season, and the league continues to finalize details. The NBA Board of Governors noted in announcing the changes that the season would be established in two segments—the first Dec. 22-March 4, followed by the All-Star break (March 5-10), with the second half of the season March 11-May 16.

Intriguing differences in the playoff structure hold that the teams with the seventh-best and eighth-best records in each conference will play one game, with the winner becoming the No. 7 seed in the playoffs.

At the same time, the teams with the ninth- and 10th-best records will play a game, with the winner of that contest then meeting the loser of the “seven-eight” game for the right to become the No. 8 seed in the playoffs.

So, the teams 7 and 8 would need only to win one game in two tries while teams 9 and 10 would have to win two in a row.

Moreover, the 72-game schedule (compared to the traditional 82-game season) will not be perfectly balanced. Pointedly, the league announced, “The Second Half schedule will include the remainder of each team’s 72 games not scheduled in the First Half as well as any games postponed during the First Half that can reasonably be added to the Second Half schedule.”

The schedule will include teams playing three games against each intraconference opponent and two games against each interconference opponent.

The playoffs are due to end by July 22, which is the day before the opening ceremonies of the rescheduled Olympic Games in Tokyo. — Reuters

Manny ‘Pacman’ Pacquiao donates latest endorsement fee to typhoon victims

FILIPINO boxing legend Manny Pacquiao is the newest Globe brand ambassador. — ALVIN S. GO

FILIPINO eight division world boxing champion Manny “Pacman” Pacquiao  recently partnered with Globe to be its newest brand ambassador with the fee he was to get to be channelled to help victims of strong typhoons that recently hit the country.

Mr. Pacquiao, who holds a boxing record of 62-7-2, was unveiled as the latest Globe brand ambassador on Tuesday in ceremonies held at the Mireio, Raffles Hotel in Makati.

In the partnership, Mr. Pacquiao and Globe agreed that the boxing legend’s next fights will be streamed in the country through the telecommunication firm’s Upstream service, its newest transactional video-on-demand (VOD) platform.

The boxing legend was joined in the unveiling by Globe President and CEO Ernest Cu and Globe and Ayala Corp. Chairman Jaime Augusto Zobel de Ayala.

In agreeing to the partnership, Mr. Pacquiao said that apart from being able to work with a respected organization like Globe, the chance to help Filipinos during these difficult times was just hard to pass up on.

“I said yes because I am given another God-given opportunity to be of help to our [countrymen]. That is why my endorsement fee for this will go to relief efforts to help our kababayans who were affected by the devastation of typhoons Rolly and Ulysses,” Mr. Pacquiao said.

“I will give my income from this to those affected by the typhoons who are struggling and having a hard time. This is part of my commitment to help them rise up,” he added.

It is a commitment that Globe and Ayala fully support, seeing it as in line with their corporate thrusts.

“You’re donating the proceeds of the endorsements. I think that’s a very gallant move, and one that is so timely, given the vast devastation that has occurred in the country today,” said Mr. Cu.

 “At a time when the country is facing so many challenges, Manny’s life story has remained a source of inspiration for every Filipino even in this time of pandemic – a constant reminder of the Filipino’s strength, talent, and tenacity to overcome every difficulty,” Mr. Zobel de Ayala, for his part, said.

Globe is a signatory to the United Nations Global Compact and has committed to implement sustainability principles hinged on four pillars including One Digital Nation, Care for the Environment, Care for People and Positive Societal Impact. Globe is actively supporting 10 UN Sustainable Development Goals.

Mr. Pacquiao, who is also a sitting senator of the republic, last fought in the boxing ring in July 2019, beating American Keith Thurman by split decision.

Discussions are now under way for his next fight but nothing concrete has come out of them yet. Among the opponents being floated for him are mixed martial arts star Conor McGregor and World Boxing Organization welterweight champion Terrence Crawford. – Michael Angelo S. Murillo

Israel’s Avdija headlines strong international draft class

DENI Avdija and France’s Killian Hayes are among the international players expected to be selected early on in Wednesday’s National Basketball Association (NBA) draft and the teenagers are already generating buzz in their home countries.

Avdija is a 6-foot-9 forward with the ball-handling skills of a guard who is an outstanding passer and tough defender. He is also reportedly a world-class trash talker, a skill honed during his time in FIBA and EuroLeague.

The 19-year-old is expected to be selected as early as fifth in this year’s draft, which is being held virtually due to the COVID-19 pandemic.

That would make him the highest-drafted Israeli player ever and just the second player from Israel to be drafted in the first round. Omri Casspi was drafted 23rd overall in 2009.

Avdija is already the talk of Israeli sports media.

“Basketball is the second-most popular sport in Israel, after soccer, in terms of watching, playing and media coverage,” Gil Barak, an NBA analyst and commentator with Sport 5 in Israel, told Reuters.

“Deni being among the highest picks in the upcoming draft is the main talking point among almost every Israeli sports fan in general, and the basketball circle in particular and has grown over the last few years.”

It is no surprise the 2020 Israeli League MVP has impressed NBA scouts, given who his parents are.

Avdija’s father, Zufer, won a bronze medal with Yugoslavia at the 1982 FIBA Basketball World Championship and played professionally in Serbia and Israel. His mother, Sharon Artzi, is a former championship runner.

Hayes, also 19, is a crafty left-handed point guard who has been eyed by the New York Knicks, who have the eighth pick and are in the market for guards.

Hayes was born in Florida but raised in France and most recently played in the German Basketball Bundesliga league. He will be the highest-drafted French player if he is taken in the top seven.

“This could be a historic moment for French basketball,” said Remi Reverchon, an NBA analyst and commentator with beIN Sports in France.

Reverchon said basketball has become a cultural phenomenon in France, a country that also produced Tony Parker, Nicolas Batum and Rudy Gobert.

“There is a real sense of anticipation,” he said.

“France has produced a long line of NBA players, so there will be a certain level of expectation.”

Italy’s Leandro Bolmaro, Nigeria’s Precious Achiuwa and Serbia’s Aleksej Pokusevski are also expected to be drafted in the first round. American LaMelo Ball is widely expected to be selected first overall.

The NBA has become a more global league in recent years.

There have been more than 100 international players on NBA rosters for six consecutive seasons, and over the last 10 years, there have been 27 international players drafted in the top 10, including 16 in the top five. — Reuters

Spain hammers Germany 6-0 to reach Nations League final four

Join France in Nations League final four.

SEVILLE — Sparkling Spain crushed hapless Germany 6-0 at home on Tuesday to storm into the final four of the Nations League in style as forward Ferran Torres scored a first career hat-trick.

Germany were powerless to stop Luis Enrique’s relentless side as the visitors suffered their worst defeat in a competitive game and the most humiliating since losing by the same scoreline against Austria in a friendly in 1931.

Alvaro Morata, Ferran and Rodri gave Luis Enrique’s side a 3-0 halftime lead, while Ferran struck again early in the second half and completed his treble with a classy finish.

Substitute Mikel Oyarzabal tapped in the sixth goal in the 89th minute to adorn an incredible Spain display and deepen four-times world champions Germany’s misery.

“We walked all over them in every sense,” said Spain midfielder Rodri. “We scored six but it could have been far more. We are still a group with little experience, but this will give us a lot of confidence.”

Morata meanwhile took pleasure in silencing Spain’s critics after they snatched a 1-1 draw away to Switzerland on Saturday.

“We had the opportunity to send a strong message out to the whole world and we have done just that,” he said.

The victory saw Spain finish top of League A4 with 11 points after six games, joining France in the final four tournament, which will take place in October 2021.

The Germans, who only needed a draw to progress to the final phase, came second with nine.

Spain suffered an early injury setback when Sergio Canales was taken off, but his replacement Fabian Ruiz had an immediate impact, sending in a superb delivery from a corner and Morata rose unmarked at the far post to head home in the 17th minute.

Morata netted again soon after by connecting with a cross from Ferran, but his strike was incorrectly ruled offside, with no VAR in operation in the Nations League.

However, Spain quickly shrugged off any sense of injustice as Ferran smashed in their second goal on the rebound in the 33rd after Dani Olmo had glanced against the post, while Rodri headed home a corner from Koke five minutes later.

Spain lost captain Sergio Ramos to a suspected muscle injury towards the end of the first half on his European record-extending 178th appearance for his country, but they grew ever more confident after the break as Germany continued to wilt.

Dani Olmo spurned a chance to add to Spain’s lead, allowing Manuel Neuer to make a rare save in a match, where his main task was picking the ball out of the net on a night when he became Germany’s most capped keeper with 96 games ahead of Sepp Maier.

But Ferran showed no mercy, taking a pass from ex-Valencia team mate Jose Gaya to net his second and then receiving a ball from Fabian and beating Neuer from outside the box to become the first Spain player to score a hat-trick against Germany. — Reuters

Inspired Thiem outshines Nadal at ATP Finals

LONDON — Austria’s Dominic Thiem produced a stunning display of attacking tennis to beat Rafa Nadal 7-6(7) 7-6(4) in a high-quality duel at the Association of Tennis Professionals (ATP) Finals and seize control of their group on Tuesday.

World number three Thiem saved a couple of set points in the first tiebreak before whipping away a forehand to take an opening set in which there was barely anything between the two.

Spaniard Nadal, bidding to win the only big title to elude him, engineered the first break of the match at 3-3 in the second set only for Thiem to reply in stunning fashion.

Nadal was on the brink of defeat when he slipped 0-40 behind serving at 4-5 after a wayward smash, but the 20-time Grand Slam champion dug himself out of a hole, saving three match points.

US Open champion Thiem was unshakeable, however, and forged his way into a 6-3 lead in the day’s second tiebreak.

Nadal clawed one point back, but Thiem finished it off when his opponent dragged a backhand wide—a rare, unforced error.

Thiem had beaten reigning champion Stefanos Tsitsipas of Greece in his opening round-robin match in the London Group and will qualify for the semi-finals if Tsitsipas beats Andrey Rublev later.

World number two Nadal’s fate will rest on his final group match against Tsitsipas. — Reuters

1...8,8128,8138,814...14,245Page 8,813 of 14,245
ADVERTISEMENT
ADVERTISEMENT
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube