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Unbeaten Ateneo clashes with UP in pivotal Battle of Katipunan

DOMINIC ESCOBAR — UAAP/JOAQUI FLORES

Games on Wednesday
(Mall of Asia Arena)
7:30 a.m. – NUNS vs AdU (16U)
9:30 a.m. – Ateneo vs UPIS (16U)
12:30 p.m. – NU vs AdU (Women)
2 p.m. – NU vs AdU (Men)
5 p.m. – Ateneo vs UP (Men)
7 p.m. – Ateneo vs UP (Women)

UNBEATEN Ateneo de Manila University faces its biggest test just yet, clashing with reigning champion University of the Philippines (UP) in a pivotal Battle of Katipunan while National University eyes to rebound against the struggling Adamson University in the UAAP Season 88 men’s basketball tournament on Wednesday at the Mall of Asia Arena.

Game time is at 5 p.m. with the Blue Eagles staking their perfect slate to protect the pole position against the heating up Fighting Maroons in a two-game run from a flat start after the Bulldogs-Falcons duel at 2 p.m.

Ateneo will march into the battle pit with an 81-74 win against another rival De La Salle University for its fourth straight win, leading by as many as 33 points for a statement win to the rest of the league after missing the Final Four last season for the first time under master tactician Tab Baldwin, who has guided them to four titles including a three-peat before the pandemic.

The Blue Eagles, who bled for just a 4-10 slate in Season 87, sport a chance to surpass that tally in the first round alone but it will be a tough nut to crack against the Fighting Maroons who have regained their groove after a listless start, warned Mr. Baldwin.

University of Santo Tomas is up next for Ateneo after that, ending a dreaded three-game swing against top contenders that could make or break their bid for reemergence as the league’s creme of the crop.

“It’s going to be a battle between two teams playing for a lot. There’s UP fighting to get back into where they belong and us trying to hold to a really outstanding start to the season. That’s always pretty much the case early in the season,” said Mr. Baldwin after needing one last stand to fend off La Salle’s torrid comeback attempt marked by a 22-0 rally before more than 17,000 fans.

UP, indeed, is back in fine form after bowing to Santo Tomas and Adamson in the first two games, taking care of its business against University of the East and just last week against National University with a stellar comeback from 22 points down, 66-59.

The Fighting Maroons are hopeful for that momentum to serve enough in trying to topple the Blue Eagles, made up of string of one-and-done players with a goal of completing a turnaround from last season’s playoff miss.

“It’s the same approach, regardless of who we’re playing. Ateneo is also the only remaining team unbeaten. But for us, it does not matter if it’s Ateneo or another team, we’re going to give them a fight,” said UP deputy coach Christian Luanzon. — John Bryan Ulanday

Elite Link: Philippine Sports Commission unveils mobile hub of undiscovered Filipino athletes

THE Philippine Sports Commission (PSC) has opened a Pandora’s box of opportunities for Filipino athletes with Elite Link, serving as the first-ever database app in history.

PSC Chairman Patrick “Pato” Gregorio on Monday night together with Elite Link launched the groundbreaking mobile app that will become a main hub and community aimed at fostering friendship, connections, network, sponsorship, scholarship and national team opportunities for thousands of undiscovered athletes like every social media platform today.

In Elite Link, all athletes from across the archipelago and even abroad can sign up and create their own profile and backgrounds with video highlights of their chosen sports to serve as their resume for a shot at a university scholarship, sponsorship or brand support and national team call-up.

It’s open to almost 2,000 national junior and elite athletes but is targeted particularly at providing a platform for grassroots and untapped young talents just waiting to be discovered, especially from the far-flung areas of the country.

“It will now be our database to identify young talents, who will soon be elite athletes. This central hub for all athletes is for our future. This will be big for all the athletes from around the Philippines to introduce themselves. Elite Link is for the Philippine sports and the Filipino athletes,” said Mr. Gregorio during the app launch with Elite Link led by general manager JP Campos and senior advisor Akiko Thompson-Gueverra, a decorated Filipina Olympian swimmer.

Elite Link will have a profile designation for all Philippine stakeholders for an inclusive, broad and working community, from athletes to parents, coaches, scouts, managers, brands and sponsors, universities and colleges, National Sports Associations (NSAs) and sport officials.

For Elite Link, it’s talent meeting technology in the world’s digital era, making it easier for Filipino athletes to showcase what they’ve got as early as they can with hopes of becoming the next Hidilyn Diaz and Caloy Yulo.

“This is exciting for our young athletes. We try to create an ecosystem for our young athletes where they will be able to be seen, a challenge in the past that’s hard to navigate for starting athletes. They have big dreams but don’t know how to get there. Now, we finally have a technology for them. Athletes will now have an easier way to find a partner for their dreams,” said Ms. Thompson-Gueverra.

“We really wanted to create an equal playing field for all our Filipino athletes, no matter where you are and what sport you want to pursue. With Elite Link, you can share your progress to coaches, scouts, sponsors and institutions that will guide you along the way. You can also connect with fellow athletes,” added Mr. Campos.

The PSC has already started requiring every athlete on its fold to sign up but will officially begin the rollout in the coming 2025 Batang Pinoy in General Santos City later this month featuring more than 20,000 junior athletes and the 33rd Southeast Asian Games this December in Thailand led by a 1,600-strong delegation.

“We will definitely have regional launches, introducing Elite Link in different PSC events starting in GenSan. This will now be incorporated and promoted in all PSC programs as part of a nationwide launch. — John Bryan Ulanday

Trevor Lawrence’s dramatic late TD lifts Jaguars over KC Chiefs

TREVOR LAWRENCE ran for a touchdown giving Jacksonville a 31-28 over Kansas City Chiefs. — SCREENSHOT FROM NFL.COM

TREVOR LAWRENCE ran for a 1-yard touchdown (TD) with 23 seconds left to give Jacksonville a 31-28 win over the visiting Kansas City (KC) Chiefs on Monday night, as the Jaguars improved to 4-1 for the first time since 2007.

Lawrence stumbled to the turf after receiving the snap when the right guard stepped on his foot, but he got to his feet before being touched, broke an ankle tackle and reached the end zone. That capped off a seven-play, 60-yard drive after the Chiefs grabbed a 28-24 lead with 1:45 left on a 2-yard Kareem Hunt touchdown run.

The fourth quarter featured three lead changes as the Jaguars defeated the Chiefs (2-3) for the first time since 2009, snapping an eight-game losing streak in the series.

Lawrence completed 18 of 25 passes for 221 yards, a touchdown and an interception. He also ran for a team-high 54 yards and his first two rushing touchdowns of the season.

Patrick Mahomes threw for 318 yards with a touchdown and an interception. He also ran for a team-high 60 yards and a score while Hunt had a pair of fourth-quarter touchdowns and 49 rushing yards.

The Jaguars scored 21 consecutive points after falling behind 14-0. Devin Lloyd gave Jacksonville its first lead of the game with 2:19 left in the third quarter when he intercepted a Mahomes pass and returned it 99 yards for a TD, the longest interception return in franchise history.

Brian Thomas, Jr. led Jacksonville with four receptions for 80 yards, and Travis Hunter had three catches for 64 yards.

Tyquan Thornton led the Chiefs with 90 receiving yards on three catches. Travis Kelce had a game-high seven receptions for 61 yards and a TD.

Kansas City opened the scoring with a 2-yard touchdown pass from Mahomes to Kelce for the Chiefs’ first first-quarter touchdown of the season.

The Jaguars nearly tied it up on the ensuing possession, but Lawrence had the ball knocked out of his hands by Nick Bolton while trying to reach across the goal line on fourth-and-1. George Karlaftis recovered the fumble.

Mahomes extended the lead to 14-0 on a 9-yard run with 10:44 left in the half.

Jacksonville finished its response the next time, capping off a 13-play drive with a 3-yard touchdown pass from Lawrence to Parker Washington late in the second quarter.

The Jaguars tied it at 14 early in the third quarter on a 10-yard Lawrence TD run to finish an 87-yard drive.

After the pick-six, Kansas City responded with an interception of Lawrence that set the offense up at the Jaguars 19. Two plays later, Hunt tied it up again with a 5-yard run with 12:20 left.

Jacksonville reclaimed the lead on the ensuing drive with a 52-yard field goal from Cam Little that made it 24-21 with 8:08 left. — Reuters

Eala jumps to new career-high world ranking at No. 54

ALEX EALA — JIMMIE48/WTA

ALEXANDRA “ALEX” EALA, with a new career-high world ranking at No. 54, is enjoying a little break in Wuhan, China before resuming her campaign in Japan next week in a bid to win her second professional title and barge inside the Top 50 for the first time ever.

Ms. Eala got an early boot from the WTA1000 Wuhan Open last week, absorbing a 4-6, 6-3, 2-6 defeat against Japanese Moyuka of Japan in Round 1 of the qualifiers but proved enough in her WTA rise once more, thanks to a string of playoff finishes before that.

From No. 58 last week, Ms. Eala improved four rungs with 1131 points and is determined to shore up her drive as one of the seeded main draw players in the WTA250 Japan Open in Osaka on Monday alongside Leylah Fernandez and Naomi Osaka.

The grind continues for Ms. Eala from there, strutting her stuff in the Guangzhou Open on Oct. 20 to 26 and the Hong Kong Open on Oct. 27 to Nov. 2.

It’s been a loaded Asian swing for Ms. Eala so far with three stops in China marked by a semifinal stint in the WTA125 Jingshan Open. She had a quarterfinal finish in the WTA125 Suzhou Open after that before an early elimination in Wuhan.

Before that, the 20-year-old Filipina pride won her first WTA Tour crown in the WTA125 Guadalajara Open in Mexico and had a Top-8 finish in the WTA250 Sao Paulo Open in Brazil on top of a US Open milestone as the first Filipina winner in any Grand Slam main draw.

Ms. Eala, after her non-stop Asian tour, is tipped to play in the slated home leg of the WTA Tour to be branded as the Manila or Philippine Open in early 2026 after her possible national team return in the 33rd Southeast Asian Games this December in Thailand. — John Bryan Ulanday

Anvaya Cove wins Southeast Asia’s Best Golf Course, earns GEO Certification

ANVAYA COVE Golf & Sports Club has been named the Best Golf Course in Southeast Asia and awarded the coveted GEO Certification by the GEO Foundation for Sustainable Golf for the club’s sustainable initiatives and activities throughout the years. This recognition makes Anvaya Cove among an elite group of only 18 golf facilities in Asia and just the second in the Philippines to achieve the GEO Certification, the industry’s leading ecolabel for sustainability. According to the GEO Foundation, the certification requires a rigorous review of environmental stewardship, climate action, resource efficiency, and collective participation. For developers and property investors, the designation signals credibility and long-term value at a time when ESG principles are increasingly shaping investment and consumer decisions.

Ryder Cup

It has been said that two things are certain in life: death and taxes. These days, all and sundry can add a third: Europe winning the Ryder Cup. True, the United States managed to salvage some measure of pride after a remarkable comeback bid on the last day of the competition at Bethpage Black. On the other hand, there was still no sugarcoating the shellacking it received, never mind its supposed home-soil advantage and the rowdy — if decidedly unsportsmanlike — crowds that unnerved the visitors.

Interestingly, the US will again be the clear underdog when the Ryder Cup goes to Adare Manor in two years. Notwithstanding the Ireland course being closer to the grip-it-and-rip-it type than to the links-style setup commonly found in the continent, it bears noting that the red, white, and blue have not won abroad in an eye-popping 32 years. There is an overriding reason, to be sure; Europe has become adept at retrofitting venues to favor its stalwarts’ predilections with a club in and on hand.

Too bad the US isn’t nearly as proficient in performing the task. In the aftermath of its latest setback, captain Keegan Bradley admitted he made mistakes in constructing Bethage Black so that his charges would get a leg up against their Europe counterparts. There was no need for him to own up to the gaffe, of course; the historically lopsided 4.5-11.5 score at the end of two days of competition was acknowledgment in and of itself. He said the locker room remained upbeat on the eve of singles play, but, really, no amount of chest-beating could have prevented the denouement.

In truth, the defeat went beyond poor pairings or misjudged layouts. It reflected a deeper malaise, with the US long on talent but short on cohesion and still mistaking individual brilliance for collective resolve. By contrast, Europe continued to thrive on chemistry and clarity of purpose. Every decision of returning skipper Luke Donald seemed deliberate, every move rooted in strategy. And his stalwarts weren’t just swinging well; they were playing for one another, amplifying strengths in ways the competition could not replicate. Against this impressive show of cohesion, Bradley’s collection of world-beaters looked strangely diminished once forced to share the stage, even in familiar territory.

And so the cycle threatens to repeat. Unity honed through shared purpose and institutional memory appears slated to meet disjointed ambition anew in two years. The US may yet tinker with analytics, captains, and lineups, but unless it learns to build from the inside out, the ending will remain the same; another Ryder Cup loss to Europe, another inevitability, another ridiculous constant of the modern game.

 

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.

China takeover of Taiwan would threaten US too, Taiwan president says

A NAVY miniature is seen in front of displayed Chinese and Taiwanese flags in this illustration taken April 11, 2023. — REUTERS

TAIPEI — A Chinese takeover of Taiwan would threaten US homeland interests and further embolden Beijing to compete with Washington on the international stage, President Lai Ching-te told a conservative US radio show and podcast in an interview.

The United States is Chinese-claimed Taiwan’s most important international backer, despite the absence of formal ties, but since President Donald J. Trump took office earlier this year, he has not announced any new arms sales to the island.

Mr. Trump could meet Chinese President Xi Jinping at a meeting of Asia-Pacific leaders in South Korea later this month.

Mr. Lai was asked this week on The Clay Travis and Buck Sexton Show — which is carried on more than 400 talk radio stations — what he would tell the US president if he were to meet him, and he said he would advise Mr. Trump to pay attention to Mr. Xi’s actions.

“I would advise him to pay particular attention to the fact that Xi Jinping is not only conducting increasingly large-scale military exercises in the Taiwan Strait, but is also expanding military forces in the East China Sea and South China Sea,” Mr. Lai said, according to a transcript of his remarks released by the presidential office on Tuesday.

China’s increasing military activities further and further from its own shores are not only a challenge for Taiwan, Mr. Lai said.

“The challenge extends beyond merely annexing Taiwan. Once Taiwan is annexed, China will gain greater strength to compete with the United States on the international stage, undermining the rules-based international order,” he said.

“Ultimately, this will also impact US homeland interests. Therefore, I hope President Trump will continue to uphold peace and stability in the Indo-Pacific.”

China’s foreign ministry did not immediately respond to a request for comment about Mr. Lai’s remarks.

Given the lack of formal ties, Taiwanese presidents do not speak directly to or meet US presidents.

Taiwan, along with major Western allies, has worked to address Washington’s concerns that it is not spending enough on its own defense — Mr. Lai has set a target of defense spending to reach 5% of gross domestic product by 2030.

“I will tell them that Taiwan is absolutely determined to safeguard its national security,” Mr. Lai told the show, when asked about how he would show the United States the island’s resolve to defend itself.

“When Taiwan protects itself, it is also committing to maintaining regional peace and stability,” he added.

The United States, which is bound by law to provide Taiwan with the means to defend itself, has long stuck to a policy of “strategic ambiguity,” not making clear whether it would respond militarily to a Chinese attack on Taiwan.

Mr. Lai rejects Beijing’s sovereignty claims, saying only the island’s people can decide their future. China calls Mr. Lai a “separatist” and has repeatedly rebuffed his offers of talks. — Reuters

US visa no longer a passport to love for Indians after Trump H-1B squeeze

An information sign for passport and visa appointments is displayed outside the US embassy in London, Britain, May 29, 2025. — REUTERS/HANNAH MCKAY

BENGALURU/HYDERABAD — Sidhi Sharma wanted to marry an Indian citizen with a high-flying job in the United States.

But the 19-year-old medical student from India’s northern Haryana state dropped the idea after seeing recent headlines about US President Donald Trump’s immigration crackdown.

“I had always dreamed of settling in the US after marriage,” she said, without elaborating on her reasons. “Trump has shut the door for me.”

Tighter US immigration policies, particularly for the H-1B skilled-worker visa, are making families in India less inclined to marry their children to Indian citizens based in the United States for fear the potential partners might lose their job or immigration status, according to matchmakers, academics and prospective brides and grooms.

There is no official government data on marriages between Indian citizens living at home and overseas.

“Immigration policies may be written in Washington, but its ripple effects are seen at dinner tables of Indian families when they’re talking about marriages,” said Anuradha Gupta, the founder of bespoke matchmaking service ‘Vows For Eternity’.

Traditionally, marriages in India are family-driven decisions, with relatives and matchmaking agencies facilitating “arranged” matches. While marriages for love are gaining ground, especially in the cities, families often still play supportive roles.

FROM PRIZED PROSPECTS TO UNCERTAIN MATCHES
The US has the world’s largest Indian diaspora, according to Indian government data, including around 2.1 million Non-Resident Indians (NRIs), some of the most sought-after marriage prospects.

Since returning to office in January, Trump has launched a broad immigration crackdown, including efforts to limit legal pathways to residency. His overhaul of the H-1B visa marks the most prominent effort to reshape temporary work visas and hit Indians, who accounted for 71% of those visas last year, particularly hard.

For many Indians, marrying a compatriot living in the US was a ticket to financial security, and a better quality of life, while families welcomed the tradition of them sending money home and providing support to extended families.

About 75% of the H-1B visas issued to Indian citizens in 2024 were awarded to men, according to data from US Citizenship and Immigration Services.

“Up until last year, there was a lot of demand and craze for NRI suitors and men settled abroad,” said Vanaja Rao, the managing director of the Vanaja Rao group of companies, popularly known as Vanaja Rao quick marriages.

“We’ve started to see a slowdown ever since Trump took over, and it intensified in the last six months. And of course, after the recent chaos and curbs on H-1B, there’s more panic,” said Rao, who has been in the business for nearly five decades.

In some cases, families are delaying weddings.

“There is a lot of uncertainty in terms of immigration in general and not just H-1B, it has only escalated in the past year,” said a 26-year-old Indian based in Atlanta, Georgia on condition of anonymity because of the issue’s sensitivity.

He is aware of three weddings that have been delayed as a result of Trump’s policy changes, he said.

“Every time there has been speculation about stopping or tightening the restrictions around H-1B visas and skilled-worker migration, there has always been a corresponding impact on the marriage market,” said Harshita Yalamarty, an assistant professor at Toronto Metropolitan University.

She pointed to Trump’s first administration when he also targeted H-1B visas and proposed spouses not be allowed to work. His successor, Joe Biden, later withdrew the policy.

Trump’s visa overhaul has also prompted many Indian students to rethink the ‘American Dream’. There were some 422,335 Indian students in the US in 2024, according to US Immigration and Customs Enforcement data.

VISA STATUS IS OFTEN A DEAL MAKER OR BREAKER
Some matchmakers are adapting to the new reality.

Premium matchmaking platform Knot.dating introduced a ‘US visa filter’ on its app as it expanded into India’s south. The company’s cofounder and CEO Jasveer Singh said many families there were particularly keen on NRIs.

“Families want to see the visa status of the suitor or match from abroad before proceeding further,” Singh said.

Since the feature launched in September, about 1,000 NRIs have signed up, with 60% on H-1B visas and the rest on green cards or other visas, Knot.dating’s Singh said. Of the 1,000 who signed up, 81% were men.

Knot.dating requires male users to earn at least 5 million rupees ($56,332.32) a year but has no income criteria for women.

That figure is “astronomically higher than what a fresh graduate or professional typically earns in India, that’s equivalent to many years’ worth of income here,” said KP Singh of overseas education consultancy IMFS.

“This US salary offers a level of financial security many here can only dream of.”

With the American Dream slipping out of reach, some Indian clients are looking more towards Canada, the UK, Europe, and the Middle East for potential matches, said Nikita Anand, founder of matchmaking agency Wedding Tales Matrimony.

“When families consider marriage, factors like mobility and security are deeply embedded in their decision-making. It’s about long-term stability, not just for themselves but for future generations as well,” Vows For Eternity’s Gupta said. — Reuters

China accelerates oil reserve site build amid stockpiling drive

STOCK PHOTO | Image by Gerhard Traschütz from Pixabay

CHINA is building oil reserve sites at a rapid clip as part of a campaign to boost crude stockpiles that increased in urgency after Russia’s Ukraine invasion upended global energy flows and has accelerated this year, according to public data, traders and industry experts.

State oil companies including Sinopec and CNOOC will add at least 169 million barrels of storage across 11 sites during 2025 and 2026, according to public sources including domestic news reports, government reports and company websites.

Of that, 37 million barrels of capacity have been built, the sources show. Once completed, the new sites will be able to store two weeks of China’s net crude imports, according to Reuters calculations based on Chinese trade data, a significant volume as China is by far the world’s biggest oil importer.

Beijing’s reserve-building — S&P Global Commodity Insight last month estimated China had stockpiled an average of 530,000 barrels per day thus far in 2025 — is soaking up surplus global supply and supporting prices under pressure as the OPEC+ producers group winds down production cuts. Traders and consultancies say they expect the stockpiling, fueled by prices recently below $70 per barrel, to continue at least through the first quarter of 2026.

China’s heavy dependence on foreign oil, carried mainly by tankers, is a strategic vulnerability that Beijing is seeking to mitigate through storage, diversification of import sources and maintaining domestic production. China is also rapidly developing renewable energy and electrifying its vehicle fleet, with both gasoline and diesel demand declining and overall oil consumption likely to peak in 2027.

Its reserve site construction is accelerating. The new additions planned for this year and next, based on Reuters research, nearly match the 180-190 million barrels of capacity that analytics firms Vortexa and Kpler, respectively, estimate were added in the previous five years.

China’s secrecy about its reserves means the list may not be comprehensive and the status of projects could change.

Beijing built its first strategic reserve site in 2006, but its recent push stems from the aftermath of Russia’s 2022 invasion of Ukraine, which triggered a wave of disruptive sanctions on Moscow and highlighted the vulnerability of Beijing’s oil imports, traders and analysts said.

Since late 2023, Beijing has quietly issued mandates to state-owned companies to stockpile oil, traders and analysts say. London-based Energy Aspects in July cited a mandate calling for 140 million barrels to be purchased for strategic reserves, with deliveries through March 2026.

“China’s stock building strategy has always been to have sufficient energy security for the nation that is highly dependent on crude imports,” said June Goh, Singapore-based analyst at Sparta Commodities.

“The agenda has become more urgent this year with heightened geopolitical risks surrounding Russia and Iran,” she said, citing potential conflict-related disruptions.

China is the top crude customer for both countries.

BLURRED LINES
China’s government stockpiles comprise dedicated Strategic Petroleum Reserve (SPR) sites built before 2019, and more recent storage known as “commercial reserves.”

Both serve as emergency reserves, experts say, with the latter operated with more flexibility under the oversight of the national reserve bureau, which allows state refiners to rotate stockpiles to meet commercial needs.

A law passed in January codified the integration by including both government and commercial stocks in a single definition of national reserves, saying companies should maintain government-supervised “social responsibility” reserves.

All the reserves are managed by dedicated divisions under state oil firms that are supervised by the National Food and Strategic Reserves Administration, which holds title to the stockpiles, according to two industry sources who declined to be named given the sensitivity of the matter.

In inland Shaanxi province, two sites under construction with combined capacity of 11 million barrels were described online by the provincial government as part of state reserves, according to local state media reports.

Another site, a 20-million-barrel Sinopec facility under construction on Hainan island, was described in February by a local state media outlet both as commercial storage and a contribution to national reserve capacity.

The National Food and Strategic Reserves Administration, Sinopec and CNOOC did not immediately reply to requests for comment.

MORE TO COME
Beijing’s last public update on its stockpiling capacity dates to 2017, when the National Bureau of Statistics said China had built nine storage bases with capacity totaling 238 million barrels.

In August, the semi-official China Petroleum and Petrochemical Industry Federation was cited in state media as saying state reserve storage capacity should grow to more than 1 billion barrels, equivalent to three months of net imports, without giving a timeline.

That would be in line with the International Energy Agency’s requirement that members hold stocks of at least 90 days of net imports, although China is not a member.

Two trade sources said Beijing aims to grow its stockpile to cover six months of imports, or roughly 2 billion barrels.

By comparison, the US held 404 million barrels of crude in its strategic petroleum reserve at the end of August, although the country is the world’s biggest oil producer and since 2019 has been a net exporter.

Consultancy Kpler pegged China’s total onshore national reserves and commercial stocks, including holdings by state and private firms, at 799 million barrels by early September, 109 million barrels above levels at the start of 2023.

Vortexa estimated state-company controlled stockpiles, including refinery stocks, at 735 million barrels — a 73-million barrel-build over the same period.

Not included in those private estimates is oil stored at four underground SPR sites that Reuters reported in 2021 have capacity to hold 110 million barrels. — Reuters

Japan’s Takaichi picks ex-premier Aso as party vice-president

THE Japanese national flag waves at the Bank of Japan building in Tokyo, Japan on March 18, 2024. — REUTERS/KIM KYUNG-HOON/FILE PHOTO

TOKYO — Sanae Takaichi, who is expected to become Japan’s next prime minister, chose former premier and party heavyweight Taro Aso on Tuesday as vice-president of her ruling party, a move some analysts saw as a restraining force against big fiscal spending.

Ms. Takaichi also chose former finance minister Shunichi Suzuki as secretary-general of the Liberal Democratic Party (LDP), a job that wields huge influence in party affairs, in a lineup of key party posts announced on Tuesday.

The announcements came after the ruling party’s pick of fiscal dove Ms. Takaichi as its head on Saturday, putting her on course to become Japan’s first female prime minister.

Japan’s share prices surged, and the yen slumped this week on market expectations Ms. Takaichi will deploy big fiscal stimulus and pressure the central bank to go slow in raising interest rates.

“During the leadership race, the Aso faction backed Takaichi, so her administration may remain strongly influenced by him,” said Takahide Kiuchi, executive economist at Nomura Research Institute.

“Aso’s influence could moderate aggressive fiscal or overly dovish monetary impulses,” he said, adding Mr. Suzuki is also seen as emphasizing fiscal discipline.

Mr. Aso was prime minister when the collapse of Lehman Brothers in 2008 jolted the global economy.

While he served as finance minister when former Prime Minister Shinzo Abe deployed his “Abenomics” stimulus policies in 2013, Mr. Aso has preached the need to keep heavily indebted Japan’s fiscal house in order. He is thus seen by markets as holding a more balanced approach to fiscal policy than proponents of aggressive spending like Ms. Takaichi.

But bond markets remained jittery on prospects Ms. Takaichi’s minority coalition could form an alliance with an opposition party, and nod to its calls for tax breaks and big spending.

The yield on the 20-year Japanese government bond (JGB) marked a fresh 26-year peak and the benchmark 10-year yield notched 17-year highs on Tuesday, on market views Ms. Takaichi’s policies may strain Japan’s already worsening finances.

Domestic media reported that Ms. Takaichi is in talks to possibly form an alliance with the Democratic Party for the People, which has proposed income tax reforms aimed at boosting take-home pay for working households.

“If Takaichi were to choose the Democratic Party, the size of spending could rise depending on what its leader will demand in exchange for forming an alliance,” said Naomi Muguruma, chief bond strategist at Mitsubishi UFJ Morgan Stanley Securities.

“There’s no guarantee Aso would serve as a counter-force against big spending,” she said. “Given so much uncertainty, there won’t be many investors willing to buy JGBs.” — Reuters

Outgoing French PM Lecornu set to start last-ditch talks to end political crisis

A PROTESTER holds a French national flag as people gather to protest against the French far-right Rassemblement National (National Rally - RN) party, at the Place de la Republique following partial results in the first round of the early 2024 legislative elections, in Paris, France, June 30, 2024. — REUTERS

PARIS — Outgoing French Prime Minister Sebastien Lecornu is starting two days of last-ditch talks on Tuesday with members of various parties, a day after his shock resignation, in an effort to find a way out of the country’s political crisis.

Mr. Lecornu tendered his and his government’s resignation on Monday morning, after his government, announced on Sunday evening, was rejected by both allies and opponents. His government was the shortest-lived administration in modern French history.

French President Emmanuel Macron tasked Lecornu on Monday with holding the talks, setting a deadline for Wednesday evening.

Politicians of various stripes expressed confusion about the president’s moves, with some arguing that Mr. Lecornu’s new task was merely an effort to buy more time nearly a month after the outgoing prime minister’s nomination.

It was not immediately clear what the scope of Mr. Lecornu’s responsibilities would be during these discussions.

“Like many French people, I do not understand the president’s decisions anymore,” said Gabriel Attal, a centrist lawmaker and former prime minister under Macron.

Mr. Lecornu was slated to meet early on Tuesday with several members of the conservative Les Republicains (LR) and center-right Renaissance parties, including Senate head Gerard Larcher and National Assembly head Yael Braun-Pivet.

France’s current political crisis, its deepest since the creation in 1958 of the Fifth Republic, its modern system of government, dates to June of last year.

After the far-right surged in European Parliament elections, Mr. Macron announced snap elections for the lower parliamentary house.

The result was a fractured parliament with no clear majority — in a country with a government designed to have a powerful president with a strong parliamentary majority, and little history of building coalitions and consensus.

Mr. Lecornu was Mr. Macron’s third prime minister since those elections were called, and Mr. Macron’s options are now limited.

The president could name a new prime minister. The Socialists have urged Mr. Macron to name a prime minister from the left, which he has resisted because a leftist prime minister would likely seek to roll back his pension overhaul and tax changes.

Mr. Macron is also not barred by the constitution from naming Mr. Lecornu, a close ally, again.

Opposition parties have also called on him to dissolve parliament or resign. Mr. Macron, whose term ends in 2027, has so far ruled out stepping down or calling new parliamentary elections.

The head of the Medef business chiefs lobby Patrick Martin told Franceinfo radio on Tuesday that the political crisis “adds to the concern that already existed within our ranks”

“We are witnessing this political spectacle that saddens us, and we are calling for a sense of responsibility on the part of all political players,” he said. — Reuters

DepEd qualifies for the highest rate of performance-based bonus 

PHILSTAR FILE PHOTO

The Department of Budget and Management (DBM) and the Department of Education (DepEd) said on Tuesday that the 2023 performance-based bonus (PBB) for qualified teaching and non-teaching personnel reached the highest rate of PBB. 

“The approval of the 2023 PBB for the DepEd workforce reflects our shared commitment to recognizing the hard work and vital contributions of our educators to national development,” said Budget Secretary Amenah F. Pangandaman in a statement.  

The qualified teaching and non-teaching personnel of DepEd had 80 points in the eligibility criteria, which led to a bonus worth 52% of the worker’s monthly basic salary. The 2023 bonus rate is 3.25% higher than it was a year earlier and 6.5% higher than in 2021.  

Based on a Teacher I salary of P27,000 (salary grade 11), a P14,040 bonus is expected for Fiscal Year 2023. 

In a joint statement, both agencies said the approval of the bonus came after the endorsement of DepEd’s eligibility by the Inter-Agency Task Force on the Harmonization of National Gov’t Performance Monitoring, Information, and Reporting Systems (AO25 Task Force). 

It added that the two departments will work together on the issuance of Special Allotment Release Orders (SARO) and Notices of Cash Allocations to facilitate the prompt disbursement of bonuses. 

Regional and division offices will also be notified once the funds are ready for release.  

“Our teachers and education personnel are the backbone of our nation’s future,” Education Secretary Juan Edgardo “Sonny” M. Angara said in a statement. “This bonus is a testament to their unwavering dedication. We thank our partners in government for their continued support in uplifting the teaching profession,” he added. Almira Louise S. Martinez