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Ultra Lagree caters to busy bodies who want to stay fit

THE local Lagree Fitness scene has taken further root with the recent opening of a studio dedicated to the workout.

Ultra Lagree, located at the second floor of Estancia Mall at Capital Commons in Pasig City, promises members another good reason to wear their gym clothes and experience a different approach to staying fit.

Introduced in Hollywood by noted fitness practitioner Sebastian Lagree, the 45-minute workout effectively combines strength, endurance, core, cardio, balance and flexibility training.

It is both high intensity and low impact, which means one’s body works harder and burns more calories while the joints and connective tissues are kept safe from potential damage due to overexertion.

Proponents of the fitness workout said is suitable for people who can’t get started or sustain their fitness regimen because of their busy schedules.

The Lagree Fitness workout is done on a machine called the Megaformer, which has tension springs that can be adjusted according to the preference of the client.

It allows one to perform coach-guided routines efficiently and at optimal form, which results in more calories burned. Because of the high intensity of the activity, you continue to burn calories even after the workout — up to 800 calories, studies show.

“You can hit so many things with this one full-body workout which uses tension springs in order for you to get the best workout. You cannot plateau with this. That’s the beautiful thing about this,” said Will Devaughn, master instructor at Ultra Lagree, in an interview with BusinessWorld.

“Forty-five minutes on this is more than enough. Of course, it depends on the intensity of the client and how they want to push themselves. This is for everybody. All walks of life, all shapes and sizes. The instructors here are very skilled and can help members in their fitness journey,” added Mr. Devaughn, who personally trained under Mr. Lagree in Los Angeles.

Mr. Devaughn went on to say that Lagree Fitness is suitable for Filipinos and that part of the reason they put up Ultra Lagree is to grow the community in the Philippines for the workout.

“Fitness is really blowing up in the Philippines and we see this enhancing that. We want to make the workout more accessible to more Filipinos, and, at the same time, create a space for like-minded individuals to thrive together,” he said.

He added, “For me, Lagree is in a class of its own. It really is. It works your mind and body at the same time. It’s very cerebral. This is a lifelong exercise. You can do this for the rest of your life.”

Ultra Lagree is part of a network of less than 300 Lagree Fitness-certified studios all over the world. In the Philippines, it is the only Lagree Fitness-certified studio in a convenient mall setting.

Those who are interested to try the Lagree Fitness workout at Ultra Lagree can inquire at info@ultralagree.ph, or check them out on Facebook (/ultralagree.ph) or Instagram (@ultralagree.ph). The studio is open every day from 6 a.m. to 9 p.m. — Michael Angelo S. Murillo

China fruit prices soar on weather, trade war

BEIJING — China’s consumers are fretting over soaring fruit prices as poor domestic harvests and higher tariffs on US imports take a bite out of supplies.

The rising cost of apples, pears and water melons has fueled consumer fears of inflation at a time when income growth is slowing in a cooling economy.

“How on earth are fruits more expensive than meat these days?” said college student Rachel Zhou as she shopped for lychees in Beijing.

The average national wholesale price of Fuji apples — the most popular variety in China — rose more than 75% this week from a year ago, data from the Ministry of Agriculture showed.

Aksu apples and Korla pears sold at Jiangnan market – one of China’s biggest fruit and vegetable wholesale markets — jumped 90% and 60%, respectively, in May, according to Reuters calculations based on data from the market in Guangzhou city.

In April, the price of fresh fruits pushed the Consumer Price Index up by 0.22 percentage points.

Extreme frost and hail hit major fruit producing regions last year, slashing stocks of staple fruits like apples, growers and traders said.

Apple and pear production fell 25% and 20%, respectively, in 2018 from a year earlier, the Commerce Ministry said.

The shortage was compounded by a trade war with the United States, with oranges, cherries and apples among the US goods that China slapped with higher import tariffs last year.

Importers scrambling to find alternative supplies have pushed up prices for fruits from Europe and Africa, said Loren Zhao, co-founder of the Shanghai-based, e-commerce firm Fruitday that specializes in high-end produce.

“Every type of fruit is now more or less several US dollars more expensive,” Zhao said.

Consumers are going online to vent their frustration at being unable to afford the fruits they want. The phrase “fruit freedom” was among the most searched topics on Chinese social media platform Weibo this month.

The price spike has even caught the attention of Premier Li Keqiang, who visited a fruit shop last week in eastern Shandong province where he called for “appropriate measures” to ensure sufficient supply and stable prices.

Some analysts are worried about the impact on inflation.

High fruit prices are expected to persist through the summer months, fruit traders said, and swine flu outbreaks are driving up pork prices, which added 0.31 percentage points to April CPI.

That could constrain Beijing’s ability to further ease credit conditions to support a slowing economy, analysts say.

The Commerce Ministry said on Thursday pork prices were expected to stabilize and prices for vegetables and fruits would fall as supplies improved.

For now, fruit lovers like Zhou Xiaoyu are avoiding that particular aisle in their supermarket.

“This year my feeling is that fruits are super expensive, and if you can have ‘fruit freedom’, you are really rich,” said the 26-year-old office clerk in the eastern city of Nanjing.

“I used to eat fruits, but now I basically don’t buy anything,” Zhou said. — Reuters

Treasury bill rates likely to decline on demand

RATES OF THE Treasury bills (T-bill) on offer today are likely to decline further amid robust demand, driven by the downward movement of US Treasury yields as well as dovish remarks from the chief of the local central bank.

The Bureau of the Treasury is offering P15 billion worth of Treasury bills (T-bill) today, broken down into P4 billion and P5 billion for the three- and six-month papers, respectively, and P6 billion in the one-year tenor.

Two traders said yields on the T-bills on offer today will likely decline across all tenors versus rates at the previous auction.

“Rates will come down by five to 10 basis points (bp) from the previous auction. The T-bills auction will align with the secondary market because yields went down,” a bond trader said in a phone interview on Friday.

Last week, the Treasury borrowed P15 billion as planned at its T-bills auction, raking in tenders totalling P47.8 billion, more than thrice the amount it wanted to raise.

Rates of the 91-, 182- and 364-day papers went down to 5.15%, 5.59% and 5.683%, respectively.

Meanwhile, at the secondary market on Friday, yields on the three-month and six-month debt instruments closed at 5.298% and 5.569%, respectively, while the one-year tenor fetched a 5.67% rate.

“The local secondary market tracked the downward movement of the US Treasury yields on [the] escalating US-China trade war and the recent statement of Fed (US Federal Reserve) vice chairman of a possibility of a rate cut in the US,” the trader said.

Reuters reported that the US Treasury 10-year yield slipped to a multi-month low of 2.17% last Friday after US President Donald J. Trump threatened to impose tariffs on Mexican imports amid its ongoing trade spat with China.

Meanwhile, last Thursday, Fed Vice Chairman Richard Clarida said that although the current level of interest rates remain appropriate, the central bank could change its position if inflation stays too low or if global economic developments threaten its outlook.

Meanwhile, Robinsons Bank Corp. trader Kevin S. Palma said the rates of the T-bills could decline by 10-20 bps across the board from the previous auction.

“Another strong turnout is expected with the effect of the 1st RRR (reserve requirement ratio) cut now underway, and as investors continue to show appetite for short-term assets amid uncertainties surrounding the US trade outlook,” Mr. Palma said in a text message on Saturday.

The Bangko Sentral ng Pilipinas (BSP) slashed the RRR of lenders by a percentage point effective May 31 to 17% for universal and commercial banks, 7% for thrift banks, and 4% for rural and cooperative banks, unleashing billions of pesos into the financial system.

Mr. Palma added that demand will be reinforced by dovish remarks of BSP Governor Benjamin E. Diokno after he promised to cut policy rates further and lower banks reserves to spur economic growth as inflation is expected to cool.

In an interview with Bloomberg TV in Tokyo, Mr. Diokno said the BSP has “more room for monetary easing” and vowed more cuts, with the timing depending on upcoming economic developments.

The Treasury plans to borrow P315 billion from the domestic market this quarter, broken down into P195 billion in T-bills and P120 billion in Treasury bonds.

The government is looking to raise P1.189 trillion this year from local and foreign sources to fund its budget deficit, which is expected to widen to as much as 3.2% of the country’s gross domestic product. — Karl Angelo N. Vidal

Electric vehicle silence may help improve heart health and noise pollution

WITH TRAFFIC noise now ranking second among the most impactful environmental threats to public health, Nissan Asia & Oceania has undertaken a sound measurement experiment to raise awareness about how electric vehicles (EVs) could help address this increasing risk.

According to the World Health Organization (WHO), long-term exposure to high environmental noise levels such as traffic, above 53 decibels (dB) can result in adverse health effects such as elevated blood pressure, coronary artery disease, hearing loss and even heart attacks.

Noise levels across Asia and Oceania’s major cities, including Bangkok, Ho Chi Minh City, Jakarta, Hong Kong, Manila, Melbourne, Singapore and Seoul average at 76dB — almost four times louder than the recommended noise levels by the WHO.

View of the Nissan noise pollution social experiment in action — blocking an urban street to measure traffic noise, versus electric vehicles.

Noise at these levels are scientifically proven to affect the health of a city’s residents over time and are equivalent to the noise from a ringing alarm clock (about 80db). Conversely, decreased levels of noise pollution bring auxiliary advantages such as fewer road rage instances, increased cognitive performance and productivity.

To creatively educate audiences on this growing health concern, Nissan measured and compared the sound levels of a standard urban street, to that of a street with the sound level of an EV, using a sound level meter. The results showed noise levels peaking at above 90db on the street, compared to 21db, which is the running noise of a Nissan LEAF powertrain, even quieter than a library (around 30db).

When contrasted against the average noise of a stationary petrol or diesel engine at around 76db, EVs are shown to present a viable option to help decrease traffic noise pollution. The benefits even at a societal level can include higher property values and increased levels of pedestrian street activity and social interaction.

“The rate of urbanization in Asia is set to increase, making noise pollution an important issue that we can unite to reduce. As this small test indicates, electric vehicles like the Nissan LEAF’s zero emission, quiet engine has the strong potential to positively improve environmental concerns for societies in Asia and Oceania,” said Yutaka Sanada, regional senior vice president for Nissan Asia & Oceania. “As we journey into the future, Nissan will continue to transform the way vehicles are driven, powered, and integrated, aiming to add value to inspire livable and happier cities of the future.”

TLDC to develop student residences in Loyola Heights

TORRE Lorenzo Development Corp. (TLDC) will offer upscale student residences in Loyola Heights, Quezon City, primarily catering to students of nearby educational institutions.

Torre Lorenzo Loyola is within walking distance to the Ateneo de Manila University and Miriam College, and a short drive to the University of the Philippines-Diliman campus.

“We are expanding our footprint in this vital space as part of our pursuit to sustain the high standards we have long set for our student accommodations. Our upscale university residence strives to upgrade the quality of life of university students in the Philippines,” TLDC President and Chief Executive Officer Tomas P. Lorenzo said in a statement.

TLDC currently has premium student residences along Taft Avenue and the University Belt in Manila. It offers college students with the appropriate and relevant amenities and features not found in other dormitories and condominiums.

The property firm is also aiming to attract foreign students, as the Philippines has become a popular study destination. Government data showed there were 33,000 foreign students in the country in 2017, mainly from South Korea, India, Japan and China.

“TLDC also wants to capitalize on this growing trend by making our properties the top choice for foreign students pursuing their education here in the country,” Mr. Lorenzo said.

Sassa’s whimsy

THE MID-2000s were a great time to be a certain kind of designer. The full effects of the looming financial crunch that would define the latter part of the 2000s would not be felt yet, and it was okay to be rich. The shock and vulgarity of the early 2000s, playing with reality TV and the early days of mainstream internet have slightly worn off. Styles in this present decade have sobered up, but the years before it showed a special kind of wealthy wearer: she wasn’t the teen in metallics and glitter of the early 2000s, best exemplified by Paris Hilton. This was a buttoned-up rich girl with a sense of fun, say like the present Catherine, Duchess of Cambridge.

Designer Sassa Jimenez, who celebrated her 10th anniversary in fashion in a show last week in Makati, came out of this milieu. Her dresses, through the years, show a party girl who finds herself increasingly sober in the mornings. Her early work showed experimentation in cut and fabric, but her work today is exemplified in a giant blue-green ball gown presented in her anniversary show. While it displays the designer’s early sense of frou-frou and fun, with regards to texture and workmanship, it also displays a maturity on both the wearer and the designer.

Other designers from the period have come and gone, but Sassa stays. “The unwavering support of my clients, family, friends and colleagues in the industry are what really brought me here. I think that nature of my job has a lot to do with the people around you and I’m lucky to have found great support from a lot of people,” said Ms. Jimenez in an interview with BusinessWorld.

Ms. Jimenez studied Creative Writing at the Ateneo, but pursued a degree at the Fashion Institute of Design and Merchandising in LA, graduating cum laude. She made her industry debut in 2008 in Philippine Fashion Week. “I truly consider that my big break. Everything snowballed since my first major fashion show and I really owe a lot to that experience. I wouldn’t know half of what I know today if I didn’t take the risk of doing that show,” she said.

Speaking about how her areas of study: that is, literature and design come, together, she said, “I think just being able to express myself creatively through any medium is an advantage. I guess what influenced my work was being around people who shared the same passions as me really inspired me to do more creative work. I’ve always been surrounded by creative people and that really propelled me to pursue something in fashion design.”

We suppose that it’s this little bit of lit that makes her designs just so, which she sometimes describes as “whimsical.” Fashion is usually dominated by men, giving form to an ideal woman to be looked at in a certain way by men. When women take the helm when it comes to clothing — knowing how a woman’s body works, how it moves, and how a woman thinks — results in something different. While other designers usually take this as a cue to release women from bondage, resulting in more freedom of movement, Ms. Jimenez’s creations unleash what a feminine woman thinks she can be.

“Being a woman who designs for other women is so empowering. It’s so nice to be able to talk about what we like wearing, sharing our insecurities about our bodies and going through changes together as we age. It’s always nice to know you have that relationship with the people that wear your clothes because it broadens your knowledge of your market.”

The world can be cruel sometimes, and we often need escape. Speaking about the femininity and fantasy in her clothing, she said, “It’s always healthy to fulfil some sort of fantasy that we have and I think that can be achieved through fashion. Clothes have always been a great avenue for self expression and I want everyone to experience that.” — J.L. Garcia

Blackwater bounces back with 98-92 win over ROS

By Michael Angelo S. Murillo
Senior Reporter

BLACKWATER ELITE’s slip-up in the Philippine Basketball Association Commissioner’s Cup was capped at one game after bouncing back with a 98-92 victory over the Rain or Shine Elasto Painters on Sunday at the Ynares Center in Antipolo City.

Absorbed their first defeat in the midseason PBA tournament last time around, the Elite (3-1) got off to a strong start against the Elasto Painters and hang on late in the game to book the rebound win.

Getting a big boost from its bench, notably from Allein Maliksi and Roi Sumang, Blackwater dictated the tempo of the contest in the opening half.

The Elite battled the Elasto Painters in the early goings of the first quarter but a strong finish pushed them to a 24-17 lead after 12 minutes.

In the second frame, Blackwater continued to hold sway, padding its advantage to double digits, 50-40, by the halftime break.

Rain or Shine tried to claw its way back to begin the third quarter on the lead of import Denzel Bowles and big man Beau Belga.

It managed to come within five points, 55-50, with 5:50 to go in the quarter.

However, another strong finishing kick, in the form of a 21-10 run, would see the Elite creating another separation, 76-60, two-thirds into the match.

The Elasto Painters angled to mount an uprising to start the fourth canto but the Elite had answers for every move the former made to stay in command.

The count was at 87-74 with six minutes remaining after which Rain or Shine made a last-ditch effort to come back.

It narrowed the gap to four points, 96-92, with 10 seconds left but the Elasto Painters were not to get any closer than that as the Elite went for the closeout from there.

Mr. Maliksi led Blackwater with 19 points followed by Ray Parks Jr. and Michael DiGregorio with 16 points apiece.

Import Alex Stepheson only had 13 points but had 20 rebounds. Roi Sumang had 11 points and seven assists for the Elite.

For Rain or Shine (0-2), it was Mr. Bowles who led with 27 points with James Yap finishing with 15 and Mark Borboran and Ed Daquioag 10 points each.

“It was just total team effort for us. When Rain or Shine was coming back we said to ourselves that we have to stick to our execution and our defense and it paid off,” said player-of-the-game Maliksi in the post-game interview.

Blackwater returns to play on June 8 versus the still-winless NLEX Road Warriors (0-4) on June 8 while Rain or Shine plays a day earlier on June 7 against the defending champions Barangay Ginebra San Miguel Kings (2-1).

RCBC sees growth in consumer business

RIZAL COMMERCIAL Banking Corp. (RCBC) expects its consumer lending business to expand further as its thrift banking arm is absorbed by the parent by the second half of the year.

“You set a baseline right now, and the expectations are for more growth coming from the consumer base. I believe the growth targets will even be higher given the synergies we’ve seen. We expect that to happen after the merger,” RCBC Savings Bank President Rommel S. Latinazo told reporters on Friday.

He added that the bank would “like to be guided” by the 20% compounded annual growth of its consumer lending business for the past five years.

“I think the statements have been that the growth areas have been SME (small and medium enterprises) and consumer lending. Definitely, under the merged setup, there will be a stronger push for more growth in the consumer lending.”

In a previous disclosure, the Yuchengco-led commercial lender said it expects to complete its merger with RCBC Savings Bank on July 1, with RCBC assuming all assets and liabilities of the thrift bank.

The bank is absorbing the thrift lender to streamline capital deployment and operational cost efficiencies. Once the merger is complete, RCBC will have a combined branch network of over 400, with 149 offices coming from its savings arm.

With the consolidation of the thrift lender into its parent bank, Mr. Latinazo said the consumer business will continue to be “one of the pillars of growth” for RCBC.

“We continue to be aggressive and optimistic….For the auto loans, I think we see signs of the industry picking up. That’s something that bodes well for us,” Mr. Latinazo said.

“Aside from the auto and mortgage segments, we’re also growing our third product business which is salary loans. We’ve been expanding out tie-ups with our corporate customers and try to serve the financing needs of the employers.”

Apart from the consolidation, the robust growth in the middle market will boost RCBC’s consumer lending going forward.

“There’s more jobs being created. And for us consumer banking, the effect of that is we see an expansion in the middle market. More people are having jobs. Businesses are expanding. More investors coming in. The middle market is expanding,” the bank president added.

Latest central bank data showed RCBC Savings Bank was the third-biggest thrift bank in the country as of end-2018 with P139.92 billion in assets, lagging behind Ayala-led BPI Family Savings Bank, Inc. and Ty-controlled Philippine Savings Bank.

RCBC posted a P1.3-billion net income in the first quarter, up 15% from P1.1 billion booked in the same period in 2018. Its shares closed at P26.45 apiece on Friday, down five centavos or 0.19%. — Karl Angelo N. Vidal

Road Trek 15 celebrates Avanza, old and new

Text and photos by Aries B. Espinosa

IF THE summer months mean weeks-long fiestas for Pinoys, for the motoring media it has also meant three- or four-day-long road trips with the country’s leading automaker and distributor, Toyota Motor Philippines (TMP).

TMP’s annual Road Trek, now on its 15th year, takes the local motoring media to the country’s best island destinations on board its featured vehicles. En route to the destinations, TMP bunches up the participants into teams and engages them in fun in-transit and pit stop games. The teams’ efforts are blissfully rewarded with prizes and — of course — lots of pampering and R&R at the island paradise destinations.

In the Road Trek’s 15 editions, it seems that Palawan — the country’s “final frontier” and its biggest province in terms of jurisdiction — has turned out to be TMP’s favorite destination. The Road Trek has been held here in 2008, 2013, and 2016. Then last May 9 to 11, the Road Trek just made its fourth run here — this time from Puerto Princesa City to Taytay Port in the municipality of Rizal in northern Palawan, a good 170-km drive.

That distance was enough for our group of four to get to enjoy our assigned vehicles. First was the top-of-the-line Vios variant, the 1.5 G Prime, then the monster SUV 4.0-liter FJ Cruiser in cheery bright yellow, and finally the face-lifted Dark Blue SE 1.5 G A/T Avanza, which was the highlight vehicle for this trip.

The other models TMP brought along to transport the other groups were the Vios E Prime, all-new RAV 4, Fortuner G and V models, Innova V, Camry, and Hiace Tourer.

The new-look Avanza rightly held the spotlight this time. Considered as the “front act” to the MPV phenom that is the Innova, the Avanza deserves its own makeover for its 2nd-gen look, especially when it has been positioned as the “MPV of choice for the smart Filipino family.”

Maria Cristina “Tini” Arevalo, First Vice President for TMP’s Brand and Product Planning Cluster, revealed that the Avanza has reached the 100,000 unit sales mark since its introduction to the local market in 2006, and has earned its place as the second bestselling multi-purpose vehicle after the Innova.

“This Road Trek 2019 offers the first official glimpse of the new Avanza, and the Philippines has been among the first countries in Southeast Asia to launch it,” Arevalo announced.

She added, “The new Avanza, the vehicle of choice for the young starting families on the lookout for best value without sacrificing style, will be offered to the public (starting May 14 at all 69 Toyota dealerships nationwide) with its top variants the 1.5 Veloz A/T and the 1.5 G A/T without any price increase.”

Thus, the new Avanza Veloz A/T keeps its price pegged at P1.065 million, while the 1.5G A/T variant stays at P1 million. The Avanza goes for a starting price of P731,000 (for the 1.3 J M/T).

With that price freeze at the top-of-the-line variants, the new Avanza becomes an even more value-driven proposition, as it now comes with a refreshed sporty look, a redesigned dashboard with a new infotainment system, and practical safety features.

The new Avanza’s exterior overhaul includes a brand new fascia, highlighted with new split-type LED head lamps as well as front fog lamps alongside its dark front grille. The redesigned alloy wheels complement the ground clearance. The sporty rear design and the fin-type antenna complete the modern look.

Inside, the new Avanza comes equipped with a 6.8-inch capacitive touch panel display infotainment system also found in premium Toyota models like the RAV 4 and Camry. This multimedia console is enhanced with high-resolution K2 Technology audio that enables 2-phone hands-free and 5-Phone music streaming. Smartphone mirroring is also allowed using the T-Link app.

Boasting a spacious 7-seater cabin and cargo trunk, the interior design cues have been patterned for versatility and practical daily use. Driving and riding comfort and convenience is enhanced with its new digital display air-conditioning and additional accessory connectors for the front and back rows.

As for safety, aside from two SRS airbags for driver and passenger, the new Avanza has 3-point ELR seatbelts for all seats and an ISOFIX child seat restraint system suited for starting families. On top of its Anti-Lock Brake System, the new Avanza also gets upgraded with side mirror-integrated turn signals.

And then there’s the always dependable and satisfying powertrain. The new Toyota Avanza generates a maximum output of 103hp for the 1.5-liter engine (Veloz, G variant) and 95hp for the 1.3-liter engine (E, J variant). There’s still the choice between a 4-speed automatic and a 5-speed manual.

The five-hour drive with the new Avanza from Puerto Princesa to Taytay Port provided our group with enough inputs to conclude that the second iteration of the Avanza makes good on its claims in styling, interior amenities, and drivability. The winding and rolling hills of the well-paved Palawan highway showed that the new Avanza could handle itself well in the twisties at speed, albeit the suspension was a bit rigid (and we felt it when we crossed bridges with uneven lead-ins and lead-outs).

From Taytay Port, our contingent of 37 participants boarded a big outrigger for the 45-minute transfer to the Apulit Island luxury resort (formerly Club Noah). There, TMP President Satoru Suzuki provided the big picture on the Road Trek and on TMP: “The Road Trek tradition has become an enduring symbol of friendship that goes beyond business. The challenging times that we in TMP and our media friends have faced together have made our ties stronger,” he said.

“The first quarter of 2019 looks very favorable, as we successfully launched the full-model change of the RAV 4, and held the Philippines’ first world premiere for the Hiace. We hope that the new Toyota Avanza will receive the same level of enthusiasm from our media friends,” Mr. Suzuki added.

With over 100,000 owners and drivers of the Avanza, plus so many more who will buy its second generation, the motoring media will certainly take a keen interest in this low-key MPV.

Salah, Origi goals bring Liverpool Champions League redemption

MADRID — Liverpool ended an incredible season by winning Europe’s biggest prize after beating Tottenham Hotspur 2-0 in Saturday’s all-English Champions League final, earning sweet redemption after agonizingly missing out on the Premier League title.

Mohamed Salah scored the second-quickest goal in a Champions League final by converting from the penalty spot in the second minute while Divock Origi sealed victory in the 87th after Liverpool had survived some heavy late pressure from Spurs.

Tottenham, in their first European Cup final, kept their heads after the early setback and came to life when semi-final hat-trick hero Lucas Moura was brought on but, with Harry Kane lacking sharpness, another European comeback was beyond them.

Liverpool, who missed out on the Premier League title to Manchester City by one point, did not produce their usual whirlwind attacking game but Salah’s debatable penalty and Origi’s arrowed finish sealed a sixth European Cup triumph.

“Everyone is happy now,” said Salah as the Liverpool fans rejoiced. “I am glad to play the second final in a row and play 90 minutes finally. Everyone did his best today, no great individual performances, all the team was unbelievable.”

Right-back Trent Alexander-Arnold who had marauded down the flank all night, added: “It is hard to put into words. The season we have had, we deserved it more than any other team.”

The win at the Wanda Metropolitano was sweet redemption for Salah and especially Klopp, who had suffered defeat in his last six major finals, including Champions League showpieces with Borussia Dortmund in 2013 and Liverpool last year.

“I am so happy for the boys all these people, and my family. They suffer for me, they deserve it more than anybody,” said the elated German.

“Did you ever see a team like, this, fighting with no fuel in the tank? And we have a keeper (Alisson Becker) who makes difficult things look easy. It is the best night of our professional lives.”

His opposite number Mauricio Pochettino praised his team’s determined efforts to get themselves back into the game.

“We were fighting, and we played so well in the second half. I feel so proud, a little bit unlucky. To be 1-0 down from the start was tough, we changed our plans but we are very proud of these players and these fans. We can be optimistic.”

OUTSTANDING SEASON
Liverpool’s win was reward for an outstanding season in which they picked up a club record 97 points in the Premier League but finished behind Pep Guardiola’s Manchester City, falling just short of a first league title in 29 years.

However, a sixth European Cup, which took them ahead of Barcelona and Bayern Munich on the all-time list and means they only trail AC Milan on seven triumphs and Real Madrid with 13, will help to compensate for that disappointment.

It was Liverpool’s first Champions League triumph since their incredible comeback against Milan in 2005 and, while this victory lacked the blockbuster drama of that night in Istanbul, it was not exactly a smooth ride in a lacklustre affair.

Tottenham manager Pochettino took a bold but ultimately misguided gamble in fielding Kane, who had only returned to full training a week ago after almost two months out with a serious ankle injury and struggled to influence play.

The England striker was far from the only player from both sides who lacked sharpness in a game with few moments of quality, a possible effect of neither side having played any competitive games for three weeks after the domestic season.

Spurs put Liverpool under real pressure in the latter stages as Dele Alli headed over and Son Heung-min and Moura forced impressive saves from Alisson, who also pulled off his best effort to beat away a free kick from Christian Eriksen.

The Brazilian keeper’s reliable display was in stark contrast to what happened last year in Kiev, when Liverpool’s Loris Karius made two horrendous errors which cost his side two goals in their painful 3-1 defeat by Real Madrid.

When the final whistle went, Alisson was mobbed by his team mates while Klopp ran on to the pitch to embrace Origi, one of the heroes in the stunning semi-final second-leg turnaround against Barcelona, who killed the game with a ruthless finish. — Reuters

Shares may climb as market sentiment improves

By Arra B. Francia
Senior Reporter

LOCAL SHARES may firm up in the week ahead as investors turn upbeat on the back of easing domestic concerns and the release of May inflation data.

The bellwether Philippine Stock Exchange index (PSEi) jumped 1.7% or 133.47 points to close at 7,970.02 last Friday. The main index racked up 2.9% or 222 points on a weekly basis, driven by industrials which gained 3.73% and property which soared 3.68%.

Net foreign selling also slimmed to P40 million on a daily average last week, significantly lower than the previous week’s P1.2 billion.

“With most local factors resolved, the budget impasse, local elections and the MSCI rebalancing, investors have more confidence now than they have had since the beginning of the year which will fuel the rally,” Eagle Equities, Inc. Research Head Christopher John Mangun said in a weekly market report.

For online brokerage 2TradeAsia.com, the PSEi could reach as high as 8,200 this week.

“The PSEi could range-trade from its current state, or move closer to 8,200, depending on macro-catalysts that would support investors’ renewed zest. The financial system remains awash with cash, and investors are likely to go hunting for bargains with commendable upside,” 2TradeAsia.com said in a market note.

The company said that fund managers will look at whether more money will go to infrastructure spending for the rest of the year, which could lead to improved hiring and in turn support increased consumer demand.

Other factors that could propel the PSEi are the Bangko Sentral ng Pilipinas (BSP)’s steady monetary policy and developments on the tax reform program.

“Efforts to get the mining industry on its feet will be a plus in improving country-side employment and provide funding support for other fiscal initiatives,” 2TradeAsia.com said.

Eagle Equities’ Mr. Mangun also noted that inflation data for the month of May will be released this week. The BSP’s Department of Economic Research said on Friday that inflation likely settled between 2.8% and 3.6% last month due to lower oil and rice prices as well as cheaper electricity rates.

The BSP said there might be an upside following jeepney fare adjustments in Central Visayas and higher prices of selected food items.

“We are still hoping that inflation comes in below three percent to justify the downtrend in inflation which will be good for capital markets. However, if it comes in at three percent or a little higher, it still maintains the government target of 2-4%,” Mr. Mangun said.

Should any pullback be seen, Mr. Mangun said this should be seen as a buying opportunity, “as we are still very bullish with corporate earnings and the economy as a whole.”

The analyst placed the market’s support for this week from 7,800 to 7,890, with resistance from 8,000 to 8,140.

SMC submits unsolicited proposal for bus terminals

SAN MIGUEL Corp. (SMC) has submitted an unsolicited proposal to the Department of Transportation (DoTr) to build bus terminals, as a solution to the traffic congestion in Metro Manila.

SMC President and Chief Operating Officer Ramon S. Ang said the details of the proposed joint venture project with the government will be revealed by Transportation Secretary Arthur P. Tugade this week.

“’Di na kayo sasakay kung saan-saan, pwede na kayo dumeretso ng Manila bypassing EDSA Skyway 3… Tapos meron ako lugar bababaan ng lahat bus (You can go straight to Manila, bypassing EDSA on the Skyway 3… Then I will have an area where all the buses can unload passengers),” he told reporters last week, adding this was an unsolicited project.

Mr. Ang said the proposed terminals will be able to accommodate 1,000 buses “at any time.”

“(The terminals will be) over the connector road… ’Yung bus ’di na kailangan saan-saan pumunta, may bababaan na (The buses do not have to go anywhere, they can unload passengers there)… We will provide them access to a loading and unloading area,” Mr. Ang added.

The Skyway Stage 3 is the elevated road of SMC’s Citra Central Expressway Corp. (CCEC) that will connect the South Luzon Expressway (SLEx) from Buendia in Makati City, and North Luzon Expressway (NLEx) in Balintawak, Quezon City.

The Skyway 3 is intended to decongest main thoroughfares in the central Metro Manila area, particularly EDSA.

Mr. Ang believes his solution will further ease the traffic congestion on EDSA, as well as issues with provincial buses.

“This is a solution that will solve the perennial problem of provincial buses forever,” he added.

The Metropolitan Manila Development Authority (MMDA) is planning to shutter the provincial bus terminals along EDSA. It has also banned the provincial buses from dropping off passengers along the main road.

Mr. Ang said the Skyway 3 stretch up to Bonifacio, EDSA will be publicly accessible by December 2019 while the rest will open by March 31 next year.

Meanwhile, the Metro Rail Transit Line 7 (MRT-7) will initially open the Don Antonio Station by September 2020, and the rest leading to the Novaliches area will open by December 2020, Mr. Ang said.

According to the Public-Private Partnership Center in its website, about 40.44% of the MRT-7 has been completed as of Feb. 28, 2019. — Janina C. Lim

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