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Galedo leads ITT winners in national championships

JOHN Mark Lexer Galedo stayed on the Men’s Elite throne, Nichol Pareja drew the spotlight in Men’s Under-23 and the girls of Standard Insurance wielded the broom in the Women’s category of the individual time trial (ITT) races of the PhilCycling 2019 National Road Cycling Championships on Tuesday in Tagaytay City.

Mr. Galedo, 33, clocked 27 minutes and 26.12 seconds to rule the 18-km Men Elite ITT that started at Sandari Batulao in Nasugbu, Batangas, and finished at the Praying Hands Monument in Tagaytay City of the race presented by Standard Insurance, MVP Sports Foundation and the City of Tagaytay.

Go For Gold’s Jonel Carcueva clinched silver after finishing 9.75 seconds behind than the 7-Eleven Cliqq Air21 Roadbike Philippines rider Galedo, while Marcelo Felipe (28.43 behind), the national champion’s teammate, bagged the bronze.

Nichol Pareja, 19, also of 7-Eleven, stunned the field with his gold medal-winning time of 26:57.60 in the Men’s Under-23 to finish atop the podium over Ismael Gorospe Jr. (Go For Gold, 28:24.20) and Daniel Ven Carino (Go For Gold, 28:28.30).

Tagaytay City Councilor Athena Tolentino welcomed the athletes and officials and awarded the medals to the winners along with Ube Media Inc./Le Tour de Filipinas head Donna Lina and Go For Gold godfather Jeremy Go in the well-attended awarding ceremony at the Sambong Hall of the Tagaytay International Convention Center.

But the day belonged to the Philippine Navy-Standard Insurance women’s team, which underscored its supremacy in the races serving as dry run for the 30th Southeast Asian Games set Nov. 30 to Dec. 11.

Kate Yasmin Velasco topped the Under-23 category, Maritoni Krogg ruled the Women’s Junior race and Jermyn Prado was the fastest in Women’s Elite, gifting Standard Insurance team owner Ernesto “Judes” Echauz, who watched his riders vie in the championships, three gold medals.

Velasco clocked 21:33.10 in the 12-km ITT, shoving Mhay Ann Linda (22:20.60) to the silver and Shagne Paola Yaoyao (22:59.70) to the bronze, while Krogg timed 20:14.19 to win gold and top Nicole Quiñones (22:03.40) and Marlen Marasigan (22:29.00).

Velasco also made her own statement with her winning time of 19:24.50, edging 2015 SEA Games ITT champion Marella Salamat (19:39.00) and Avegail Rombaon (20:56.40) in the race that saw the Highway Patrol Group of the Philippine National Police Region 4A command displaying their expertise in handling road cycling races.

Macryan Lago (17:41.23), John Patrick Pagtalunan (18:07.16) and Efren Reyes (18:15.46) finished 1-2-3 in the Men’s Junior ITT that was raced on the same 12-km route as the Women’s events.

The races resumed on Wednesday with the road races.

Zion Williamson latest Jordan Brand ambassador

THE EVER-growing family of ambassadors of the Jordan Brand has added top National Basketball Association rookie pick Zion Williamson to its roster.

Set to play for the New Orleans Pelicans, Mr. Williamson, who hails from Florence, South Carolina, and played one year of collegiate ball at Duke University, is one of the new faces added by the brand.

He joins Jayson Tatum of the Boston Celtics, fellow Rui Hachimura of the Washington Wizards, WNBA players Asia Durr and Kia Nurse and National Football League rookie quarterback Dwayne Haskins as the latest athletes now affiliated with the brand bearing the “Jumpman” logo.

Other star athletes part of the brand are Blake Griffin of the Detroit Pistons, Jimmy Butler of the Miami Heat, Russell Westbrook of the Houston Rockets and Chris Paul of the Oklahoma City Thunder.

“I feel incredibly blessed to be a part of the Jordan Brand family,” said Mr. Williamson in a statement shared to members of media announcing his signing with the Jordan Brand.

“Since I was a kid, I dreamed of making it to the league and having the type of impact on the game Michael Jordan had and continues to have today. He was one of those special athletes I looked up to, and I really can’t express how happy and excited I am for this journey,” Mr. Williamson, 19, added.

For the Jordan Brand, adding an athlete like Mr. Williamson to its roster is something it is very high on as it sees the NBA rookie representing what it is as brand.

“Zion’s incredible determination, character and play are inspiring. He’s an essential part of the new talent that will help lead the brand into the future. He told us he would ‘shock the world,’ and asked us to believe him. We do,” NBA legend Michael Jordan said of Mr. Williamson.

“Over the last 34 years we’ve built an incredible roster of talent with the same determination and greatness as MJ. There is something special about Zion that reminds me of MJ when he was younger,” Howard White, Vice President of Jordan Brand Affairs, for his part, said.

Mr. Williamson is set to lead a new-look Pelicans team, taking over from the now-departed Anthony Davis, who is now with the Los Angeles Lakers.

Joining the top rookie pick in New Orleans’ NBA recalibration are Lonzo Ball, Brandon Ingram, Josh Hart, JJ Reddick and Derrick Favors along with holdover Jrue Holiday.

The Pelicans finished with a 33-49 record last season, missing the playoffs. — Michael Angelo S. Murillo

Wesley’s queen sacs

The first round of the Riga Grand Prix began last July 12th. Sixteen players competed in a knockout tournament. Each round consists of two games of classical chess, with a time control of 90 minutes for the first 40 moves then 30 minutes to the end of the game, with a 30-second increment from move 1. If the match is tied two 25+10 rapid games are played. If still tied, there are two slow rapid (10+10) games, then two 5-minute blitz games with three seconds increment. Finally, if the two players are still tied, a single Armageddon game is played, where White has five minutes to Black’s four (with a two-second increment from move 61) but Black wins the match with a draw.

In his last tournament (Croatia Grand Chess Tour) Wesley So had won his first round game versus Ding Liren by giving up his queen then forcefully getting his pieces to work together and overwhelm the enemy position. I also annotated this for you a few columns back so here is the bare score.

So, Wesley (2754) — Ding Liren (2805) [A20]
Croatia GCT 2019 Zagreb CRO (1.3), 26.06.2019

1.c4 e5 2.g3 Nf6 3.Bg2 Bc5 4.Nc3 c6 5.e3 0–0 6.Nge2 d5 7.cxd5 Nxd5 8.d4 exd4 9.Nxd5 cxd5 10.exd4 Bb6 11.Nc3 Nc6 12.Be3 Be6 13.0–0 Qd7 14.Na4 Rfd8 15.Nxb6 axb6 16.Qb3 Ra6 17.Rfc1 Bh3 18.Bf3 Bg4 19.Bg2 Bh3 20.Bf3 Bg4 21.Bh1 h5 22.h4 Be2 23.Kh2 Qf5 24.Bg2 Na5 25.Qc3 Nc6 26.b3 b5 27.Qd2 Bf3 28.Bf1 Rb6 29.Bf4 Rc8 30.Rc3 Bg4 31.f3 b4 32.Rd3 Bxf3 33.Rxf3 Ne5 34.dxe5 Rc2 35.Rf2 Rxd2 36.Rxd2 Rc6 37.Bh3 Qg6 38.Rad1 Ra6 39.Bg2 d4 40.Bxb7 Ra5 41.Rxd4 Rxa2+ 42.R1d2 Qb6 43.Rxa2 Qxd4 44.Rd2 Qc3 45.Bd5 Kf8 46.Bc4 Ke7 47.Bg5+ f6 48.exf6+ gxf6 49.Re2+ Kd7 50.Bd2 1–0

Here in the Riga Grand Prix Wesley was matched against India’s Pentala Harikrishna in the first round, a very tough customer. Wesley once again gave up his queen and got a won game but Harikrishna created enough threats to hold the draw.

So, Wesley (2763) — Harikrishna, Pentala (2734) [C54]
Riga FIDE Grand Prix 2019
Riga LAT (1.1), 12.07.2019

1.e4 e5 2.Nf3 Nc6 3.Bc4 Bc5 4.c3 Nf6 5.d3 d6 6.0–0 a6 7.Re1 Ba7 8.a4 0–0 9.h3 h6 10.Nbd2 Re8 11.b4 Be6 12.Bxe6 Rxe6 13.Qc2 Qd7 14.Nf1 d5 15.Be3 Bxe3 16.Nxe3 Rd8

With this rook on a8 White cannot play b4–b5. Now that it has moved White can proceed with his queenside plans.

17.b5 Ne7 18.c4 d4 19.Nd5 Ng6 20.Rab1 axb5

Now most people would have recaptured with 21.axb5 without hesitation, but Wesley paused for 15 minutes here with played …

21.Rxb5!? c6 22.Nb6 Qe7 23.Rbb1 Nh5 24.g3 Rf6

Hari can play 24…Ngf4 right away. If Wesley accepts the sacrifice then he loses: 25.gxf4 Nxf4 26.Kh2 Rg6 27.Rg1 Qe6! the coming …Qxh3+ is devastating. Therefore the proffered knight should be refused. 24…Ngf4 25.Kh2 Rf6 26.gxf4 Rxf4 (26…Nxf4 27.Rg1 Nxh3 28.Rg3 Nf4 29.c5! followed by Nc4 to either d6 or e5) 27.Qd1 Qf6 28.Kg2 Qg6+ Black has at least a draw.

25.Qd1 Ngf4?! 26.gxf4 Nxf4 27.Kh2 Rg6 28.Rg1 Rxg1

[28…Qe6 as in the previous line no longer works because of 29.Qf1]

29.Nxg1 Rd6 30.Nc8!

Wesley invested 12 minutes before playing this move.

30…Qh4 31.Qf3

[31.Nxd6 Qxf2+ followed by mate]

31…Rg6 32.Rxb7 Rg2+ 33.Qxg2 Nxg2 34.Kxg2

With rook and two minor pieces for his queen Wesley should be winning, but the immediate problem now is to coordinate all his pieces. Harikrishna immediately goes Qh4–g5–d2 to attack the white pawns from behind.

34…Qg5+ 35.Kh1 Qd2 36.a5

On the one hand this move does not throw away the win, but on the other hand there was a much simpler way: 36.Nd6! Qxd3 37.Kg2 Qc2 38.a5 d3 39.Nf3 d2 40.Nxd2 Qxd2 41.a6 Qg5+ 42.Kf1 Qc1+ 43.Ke2 Qa3 (43…Qc2+ 44.Kf3 Qd3+ 45.Kg2 there are no more checks, and 45…Qxd6 46.a7 queens the pawn) 44.a7 White wins.

36…Qxa5 37.Ne7+?

The correct follow–0up is 37.Nf3! Qa3 38.Kg2 Qxd3 39.Nd6 c5 40.Rb8+ (40.Nxe5 Qe2) 40…Kh7 41.Nxf7 Qxe4 42.Rh8+ Kg6 43.N7xe5+ Kf6 44.Rc8 d3 45.Re8 d2 46.Nd7+ Kf7 47.Rxe4 d1Q 48.Nxc5 precision is still needed, but White should win this.

37…Kh7 38.Nxc6

It is too late for 38.Nf3 because then Black goes for the d3 pawn and White’s pieces are not coordinated. 38…Qa3 It’s too late to consolidate with a Nf3 and Qg2 setup. Black goes after the pawn on d3, and when it falls, White’s king is still exposed, and the pieces are disorganized.

38…Qa6 39.Nd8 Qa3 40.Nxf7 Qxd3 41.Nd6 Qc2 42.Rd7 Qa4 43.Re7 d3 44.Nf3 d2 45.Nxd2 Qd1+ ½–½

Wesley was not able to win this because of lack of piece coordination. The second classical game was also drawn so they went into tiebreaks. The first game (25 minutes play-to-finish with 10 second increment) was decisive, and Wesley shows that he has learned his lesson.

So, Wesley (2763) — Harikrishna, Pentala (2734) [C54]
Riga FIDE Grand Prix Riga (1.3), 14.07.2019

1.e4 e5 2.Nf3 Nc6 3.Bc4 Bc5 4.c3 Nf6 5.d3 d6 6.0–0 a6 7.Re1 Ba7 8.Bb3 h6 9.Nbd2 0–0 10.h3 Re8 11.Nf1 Be6 12.Bc2 d5 13.Qe2 b5 14.Rd1 Qe7 15.Ng3 Rad8 16.exd5 Nxd5?! 17.Qe4

Threatening Qh7+

17…Nf6 18.Qxc6

Did Hari just blunder his knight? No — he was hoping to trap the enemy queen.

18…Bb6 19.d4 e4

[19…Bd5 does not do the trick as White has 20.Nf5!]

20.Ne5! Rd6 21.Qb7 Bc8 22.Qa8 Bd7 23.Qb7 Bc8 24.Qa8 Bd7 25.Qxa6! Bxd4 <D>

POSITION AFTER 25…BXD4

This was the idea, discovering an attack on the queen. But Mr. Wesley is up to it.

26.Qxd6! Bxf2+ 27.Kxf2 cxd6 28.Nxd7 e3+ 29.Kg1 Qxd7 30.Re1 Qa7 31.Nf5! Nd5 32.Bb3? e2+ 33.Nd4 Nb4 34.Bf4 Nd3 35.Bg3 Qc5

The rook is not going away.

36.Kh2 Qh5 37.Bc2 Nxe1 38.Rxe1 b4 39.Bf5! bxc3 40.bxc3 Re3 41.Bg4 Qa5 42.Rxe2 Rxg3?

Harikrishna misjudges the position. He did not like 42…Rxe2 43.Nxe2 when White gets a passed pawn, either on the a-file or c-file. He figures that by giving up his rook for the dark-squared bishop he can win both of white’s queenside pawns but he did not count on Wesley’s excellent regrouping.

43.Kxg3 Qxc3+ 44.Nf3 d5

Same story as in the previous game, R+2 minor pieces versus Q, Showing that he has learned his lesson Wesley now concentrates on the coordination of his pieces: each should be defended by the other.

45.Bf5! g6 46.Bc2

Trying to save the pawn with 46.Bb1? in fact loses to 46…Qc7+ 47.Kf2 Qb6+ and the bishop falls.

46…Qc7+ 47.Kf2 Qa7+ 48.Kf1 Qxa2

Now that White’s pieces are coordinated he has to try and win the d5–pawn.

49.Rd2 Qa6+ 50.Bd3 Qa1+ 51.Ke2 Kg7 52.Rd1 Qb2+ 53.Kf1 Qb3 54.Be2 h5 55.Nd4

Fixing the pawn on d5, where it is on the same color square as White’s bishop, is important. The next step is to zero in on it with his bishop and rook, starting Bf3.

55…Qa4 56.h4 Kf6 57.g3 Kg7 58.Rd3 Qa1+ 59.Kg2 Qb2 60.Kf2 Qb6 61.Bf3 Qc5 62.Kg2 Qc4 63.Rd2

Better was to put this rook on d1, where it is protected by his bishop. Anyway later on he circles back to this idea.

63…Qb4 64.Rd3 Qc4 65.Be2 Qa2 66.Kf2 Qa7 67.Bf3 Qc5 68.Rd1! Qa5 69.Ne2

Successful! The d5–pawn falls.

69…Qb6+ 70.Kg2 Qb2 71.Rxd5

What is the next step for Wesley? He has to attack the weakest part of Black’s position. As of the moment it is f7.

71…Qc2 72.Rd7 Qb2 73.Rc7 Qa2 74.Rb7 Qc2 75.Re7 Kf8 76.Re4 Kg7 77.Kh2 Qb2 78.Bg2 Qd2 79.Nf4 Kf8 80.Ra4 Qc2 81.Ra7 Ke8 82.Ra8+ Ke7 83.Nd5+! Kd6 84.Ra7 Qf2 85.Ra6+ Ke5

The King has to move up the board as 85…Kd7? 86.Rf6 the f7–pawn falls.

86.Nf4!

We get a theoretical draw after 86.Rf6? Qxf6 87.Nxf6 Kxf6.

86…Kf5

A royal fork with Nd3+ was threatened.

87.Nh3 Qd2 88.Ng5

There is no defense for the f7–pawn. Hari doesn’t see the tactical trick why the pawn cannot save itself by moving to f6.

88…f6? 89.Rxf6+! 1–0

Hari resigns because of 89.Rxf6+ Kg4 (89…Ke5 90.Nf3+; 89…Kxf6 90.Ne4+) 90.Rf4+! Qxf4 91.Bh3#. Wesley ended with 2 minutes 49 seconds on his clock while Harikrishna was down to last 56 seconds.

In less than a month Wesley had given away three queens! Would you believe that three days later he would give up his queen again? Against no less than the “Minister of Defense” Sergey Karjakin? I will tell you about it on Tuesday next week.

 

Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant (CPA), he taught accounting in the University of Santo Tomas (UST) for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.

bobby@cpamd.net

Woods new norm

Fans can reasonably argue that truer words were never spoken when Tiger Woods said “I just want to go home” after an abbreviated stint at the British Open. Even with relatively benign conditions greeting Claret Jug hopefuls through the first two rounds of competition, the reigning Masters champion didn’t just fail to make the weekend; he got nowhere close to the cut line, a seven-over first-18 78 derailing his chances at Royal Portrush. And by the time he met members of the media for his post-mortem, he looked deflated to the point of uttering a sentence that threatened his status as the sport’s ultimate grinder.

Granted, Woods appeared far from prepared when he arrived in Ireland for the year’s last major tournament. He had two rounds to his name in the last month, no prep work relating to the challenge of links golf, and absolutely no knowledge of Royal Portrush prior to his practice sessions with the first round already drawing near. All these, plus mediocre work on the range, led him to admit that his game wasn’t where he wanted it to be. And coupled with the fact that cold weather has become his kryptonite in light of his myriad physical frailties and advancing age, the outcome he carved doesn’t seem all that shocking in retrospect.

Parenthetically, it didn’t help Woods that he tweaked his surgically repaired body on the very first hole of his very first round. Nonetheless, the result of his exertions at Royal Portrush reflected his new normal, which compels him to spend considerably less time honing his craft and more time resting, often with his family. And resting is what he will do until the second week of August. Up next on his agenda is The Northern Trust, triggering his participation in the FedEx Playoffs. How he will fare at Liberty National after yet another long layoff remains to be seen. And all the conjecture will continue to pick up from there, what with two more weeks of play awaiting him.

“Anything can happen,” Woods pointed out as he assessed his schedule. And he’s right. These days, he’s as concerned with the there and then as the here and now — which is why he’s consigned to picking and choosing. “I want to play here as long as I possibly can. And you have to understand, if I play a lot, I won’t be out here that long.” In other words, he has learned to accept that, with his significantly reduced exposure, he won’t always be good enough to contend, let alone win.

 

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.

Human Rights Watch urges dropping of VP raps

PHILIPPINE authorities should drop a “preposterous complaint” of inciting to sedition and other offenses against opposition politicians including Vice-President Maria Leonor G. Robredo, religious leaders and human rights advocates, Human Rights Watch said on Wednesday.

“The preposterous complaint against the vice-president and the others is a transparent attempt to harass and silence critics of President Duterte’s bloody drug war,” Brad Adams, Asia director at Human Rights Watch, said in an emailed statement. “Threatening criminal charges against the vice-president, outspoken bishops and rights lawyers suggests that Duterte’s egregious human rights record is catching up with him.” Police have filed a complaint against Ms. Robredo and the others for allegedly plotting President Rodrigo R. Duterte’s ouster by linking him and his family to the illegal drug trade through a series of videos.

The Office of the Solicitor General, which allegedly helped draft the police complaint at the Ombudsman, in a statement said it is its duty to serve clients seeking legal advice.

Police last week filed a complaint of inciting to sedition, cyberlibel, libel, estafa, harboring a criminal and obstruction of justice against Ms. Robredo, several senators, church leaders and lawyers, as well as Peter Joemel Advincula, the self-confessed drug dealer who was featured in the videos.

Mr. Advincula had sought legal assistance in filing charges against members of the drug syndicate he formerly belonged to. Later that month, he surrendered to police over estafa charges, and tagged the Liberal Party as behind the propaganda.

The Liberal Party has accused the government of political harassment and persecution, saying the complaint is based on lies.

Human Rights Watch said governments and donors should press the Duterte administration to end its persecution of critics of its “murderous war on drugs.” A conviction for incitement to sedition carries a maximum penalty of six years in jail.

The Duterte administration has previously targeted political opposition figures and critics of the drug war, Human Rights Watch said. In February 2017, it accused Senator Leila de Lima, staunch critic of the government’s anti-illegal drug campaign, of involvement in the drug trade. It has also filed sedition charges against a former senator and Duterte critic, Antonio Trillanes IV.

Criticism of the administration centers on the drug war killings that began soon after Mr. Duterte became president in June 2016, the human rights group said. “Since then, police and police-backed gunmen have summarily executed thousands of alleged drug dealers and users in mainly poor urban communities across the Philippines.”

Police have said they have killed more than 6,600 people who “fought back” in the anti-drug campaign, while estimates by domestic rights groups put the number executed at more than 27,000.

The United Nations Human Rights Council passed a resolution on July 11, calling on the UN human rights office to present a comprehensive report on human rights in the Philippines by June next year.

“The sedition complaint looks like little more than a kneejerk reaction to the UN Human Rights Council’s resolution on the Philippines,” Mr Adams said. “Friends of the Philippines should not stay silent when the administration retaliates against those promoting respect for human rights in the country.”

Presidential spokesman Salvador S. Panelo defended the solicitor general. “There’s nothing wrong with that because it’s the duty of the SolGen In a lawyer-client relationship,” he said at a briefing in Manila yesterday.

Justice Secretary Menardo I. Guevarra said the issue of who drafted the complaint-affidavit is not the focus of his department. “What is of utmost importance is whether or not the complainant’s evidence will support its allegations and establish probable cause against all the respondents,” he said in a text message. — Vann Marlo M. Villegas

NBI nabs Sayyaf men in JW kidnapping

GOVERNMENT agents arrested two members of the Islamic State-linked Abu Sayyaf Group accused of abducting members of a religious group in 2002.

The National Bureau of Investigation (NBI) in a statement identified the suspects as Anwar Sabarul Mohotoh and Julmain, who were arrested in separate operations in Quiapo, Manila and Quezon City respectively.

The Abu Sayyaf, the most violent extremist group in the Mindanao region, kidnapped six Jehovah’s Witnesses (JW) in Basilan province on Aug. 20, 2002. The terrorist group beheaded two other victims, according to the NBI statement.

The Abu Sayyaf has used terror both for profit and to promote its jihadist agenda, according to the US National Counterterrorism Center. The group engages in kidnappings for ransom, bombings, assassinations and extortion.

The two suspects have warrants for kidnapping and serious illegal detention. Government agents acted on a report that the two had been spotted in the cities where they got arrested.

The NBI said Jumlain remained an active member of the terrorist group while he was at large and was a “trusted man” of Isnilon Hapilon, the group’s leader who plotted that attack on Marawi City in 2017. Law enforcers later killed Hapilon and Omar Maute at the end of the siege.

Jumlain’s job was to accompany Abu Sayyaf leaders to and from Marawi City and other areas in Mindanao and Palawan province, according to the NBI. — Vann Marlo M. Villegas

Congressman seeks longer House term

A CONGRESSMAN has filed a resolution seeking to extend their term to four years from three years and cut senators’ term to three years from six years.

Cagayan de Oro Rep. Rufus B. Rodriguez wants congressmen like him and other local officials except village chairmen to be allowed to serve for three consecutive terms, just like now.

The lawmaker also wants to allow senators to serve for three consecutive terms from only two, and increase their number to 27 from 24. Under his proposal, three senators should come from each region — the National Capital Region, Northern Luzon, Southern Luzon, Bicol, Eastern Visayas, Western Visayas, Northern Visayas, Southern Visayas and the Bangsamoro Autonomous Region.

Meanwhile, three congressmen have filed separate bills seeking to postpone the May 2020 village and youth council elections to allow incumbent officials to finish their programs.

Congressmen Edgar A. Erice, Joel Z. Almario, and Rufus B. Rodriguez want the elections deferred to October 22. Elections will then be held every three years.

On Monday, President Rodrigo R. Duterte in his yearly address to Congress asked lawmakers to postpone the elections to correct “truncated terms.” — Vince Angelo C. Ferreras

DoH cited for nearly expired medicines

THE COMMISSION on Audit (CoA) has criticized the Health department for excessive allocation of medicines, leading to P367.2 million of drugs that are nearing expiration.

In a report, state auditors also cited the department for allowing P30.4 million of drugs to expire. Aside from over allocation, they blamed delays in the distribution of medicines and allowing transfers without a hospital request.

The Health department should enforce stricter approval to ensure the fast distribution of drugs with at least a year of remaining shelf life, according to the report.

In the report, the agency said its chief accountant would start reconciling the inventory for transactions last year. — Vince Angelo C. Ferreras

Death penalty faces tough Senate hurdle

PRESIDENT Rodrigo R. Duterte’s push to restore the death penalty for drug trafficking, plunder and other heinous crimes, might find it difficult to hurdle the Senate, according to a lawmaker who filed the bill.

Senator Christopher Lawrence T. Go, the president’s former aide, told reporters at a briefing yesterday he was “not very confident” that his measure would get enough backing. To date, only Senate President Vicente C. Sotto III has expressed support, he said.

“I call on my fellow senators to support the bill,” Mr. Go said. “If they have nothing to hide, they have nothing to fear,” he said in Filipino.

Mr. Sotto in a statement said reviving capital punishment could move faster in Congress if it is confined to high-level drug traffickers.

Covering plunder and other heinous crimes “will make committee and plenary debates longer due to expected intense debates between advocates and critics.”

Senator Juan Miguel F. Zubiri in an interview with the ABS-CBN News Channel said the numbers for and against the bill are about even now. The lawmaker, who is against the measure, said he won’t sit on the proposal as the majority leader

Mr. Duterte in his annual address to Congress on Monday said drug traffickers must be put to death, noting that the illegal drug menace persists despite his deadly war on drugs that has killed thousands.

The Philippines under then President Gloria Macapagal Arroyo suspended capital punishment in 2006 through a law. Before that, she commuted the death sentences of 1,230 inmates to life imprisonment, which Amnesty International said was the “largest ever commutation of death sentences.” — ALB

Shares decline as Jollibee plunges on CBTL deal

By Arra B. Francia, Senior Reporter

LOCAL SHARES fell on Wednesday mainly due to the sell-off in index heavyweight Jollibee Foods Corp. (JFC) following its acquisition of California-based The Coffee Bean and Tea Leaf (CBTL).

The benchmark Philippine Stock Exchange index (PSEi) plunged 1.09% or 89.97 points to close at 8,161.49. The broader all-shares index dropped 0.69% or 34.71 points to 4,956.24.

“It’s the negative sentiment in JFC today that pulled the market lower. Although the acquisition of CBTL was good news, the latter’s 2018 bottomline performance was at a loss of $21 million which is equivalent to approximately 12 or 13% of JFC’S profit,” Timson Securities, Inc. Equity Trader Jervin S. de Celis said in a mobile phone message on Wednesday.

JFC announced Wednesday it will acquire CBTL for a total of $350 million, which is seen to expand its total store network by 26%. It will also add 14% to JFC’s global systemwide sales.

Shares in JFC plunged 7.99% or P21.80 to P251 each at the stock exchange yesterday, making it the day’s most actively traded stock.

Mr. De Celis noted that it is unusual for blue-chip stocks to drop by more than five percent on a single day, causing panic selling among investors.

“But this might just be a short term reaction. JFC is backed by an excellent management team so CBTL is in good hands,” he said.

Aside from JFC’s acquisition of CBTL, Regina Capital Development Corp. Head of Sales Luis A. Limlingan said investors also factored in the International Monetary Fund’s (IMF) downward revision of its growth projections.

“Shares traded in the red with news that the IMF revised downward its growth figures. The IMF cut its global growth outlook again and suggested that policy “missteps” on trade and Brexit could derail a projected rebound,” Mr. Limlingan said in a mobile phone message.

The IMF expects the world economy to expand by 3.2% and 3.5% in 2019 and 2020, respectively. The projections are both lower by 0.1% compared to expectations in April due to continuing trade tensions.

Foreign investors turned sellers after eight straight days of net buying, recording P542.01 million in net sales against the previous session’s net inflows worth P45.64 million.

All sectoral indices ended in the red except for the services counter, which climbed 0.3% or 5.09 points to 1,660.34.

Industrials lost 1.86% or 218.36 points to 11,501.78; financials plunged 1.4% or 26.19 points to 1,842.69; holding firms went down 0.89% or 71.31 points to 7,924.89; property declined 0.67% or 29.57 points to 4,359.56; while mining and oil slipped 0.53% or 43.24 points to 8,087.45.

Some 2.89 billion issues valued at P6.44 billion switched hands, slightly lower than Wednesday’s P6.72 billion.

Decliners outpaced advancers, 125 to 73, while 57 names were unchanged.

VP’s satisfaction rating falls in SWS poll

VICE-PRESIDENT Maria Leonor G. Robredo’s net satisfaction rating fell from good to moderate, down by 14 points from the previous quarter to +28, according to a Social Weather Stations (SWS) poll.

Senate President Vicente C. Sotto III’s net satisfaction rating stayed very good, down 1 point down to +60, while former Speaker Gloria Macapagal Arroyo’s final net satisfaction rating fell 3 points to a poor -20. She stepped down as House speaker this month.

Chief Justice Lucas Bersamin’s net satisfaction rating stayed moderate, 1 point down to +13, the SWS said on its website.

Meanwhile, net satisfaction ratings were up one point to +63 or “Very Good” for the Senate as an institution; up one point to +48 or “Good” for the House of Representatives; up four points to +54 or “Very Good” for the high court; and up 7 points to +51 or “Very Good” for the Cabinet.

SWS interviewed 1,200 adults nationwide on June 22 to 26. The poll had an error margin of ±3 points. — Charmaine A. Tadalan

Peso continues to drop

THE PESO weakened further against the dollar on Wednesday ahead of likely upbeat US economic data and following comments from the local central bank’s chief.

The local unit closed yesterday’s session at P51.175 versus the greenback, four centavos weaker than its P51.135-per-dollar finish on Tuesday.

The peso opened the session weaker at P51.225 against the dollar, slipping to as low as P51.295 intraday. Meanwhile, its best showing stood at P51.17 versus the US currency.

Dollars traded reached $1.167 billion, higher than the $754.11 million that switched hands the previous day.

“The peso weakened on expectations of upbeat US manufacturing and services PMI (Purchasing Managers’ Index) reports and after the BSP (Bangko Sentral ng Pilipinas) commented that inflation may go below 2% in the third quarter,” a trader said in an e-mail.

Inflation could settle below the official full-year target this quarter as food and oil prices ease, BSP Governor Benjamin E. Diokno told reporters on Tuesday, citing “base effects” due to multiyear-high rates last year.

“Third quarter na tayo, so baka below two pa nga ‘yan because of the base effects (We’re in the third quarter, so it might settle below two percent because of the base effects),” Mr. Diokno said at the sidelines of a forum, also citing a “significant” drop in oil prices as well as the cost of rice.

Another trader attributed the peso’s weakness to continued dollar strength at the start of the session.

“The dollar-peso continued to gap higher due to dollar strength at least at the start,” the second trader said in a phone interview. “I think it was due to the less aggressive rate cut from the (US Federal Reserve). The initial view was for a very aggressive rate cut, and then we’re getting some news that it may not be as aggressive. The short dollar positioning was reversing.”

The US Federal Reserve is expected to trim interest rates during its July 30-31 meeting. However, the odds for a 50-basis-point cut were trimmed after the Federal Reserve Bank of New York clarified that hawkish comments from its president John Williams were not meant to imply there would be an aggressive rate cut.

The second trader noted that the dollar reversed its gains in the afternoon session on profit-taking ahead of the policy meeting of the European Central Bank today.

For today, the first trader expects the peso to move between P51.10 and P51.40 versus the dollar, while the other gave a P51.05-P51.30 range. — Karl Angelo N. Vidal

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