THE Red Bull Cliff Diving World Series-Season 11, which kicks in El Nido, Palawan, next month, will have a familiar face on the sidelines as Olympian Greg Louganis is back to serve as sports director.
Part of the much-anticipated diving event in the past as judge, Mr. Louganis, 59, widely considered “the greatest American diver,” was named sports director in 2017 and said he is enjoying his position and looking forward to working on the 11th season.
“I was invited as a judge on the tour years ago. Then after the passing of my dear friend and former Olympic competitor Niki Stajkovic, who was the original sports director, Red Bull reached out to me and asked if I could step into the role,” shared Mr. Louganis of how he got involved in the Red Bull Cliff Diving World Series.
“I am honored to be back this year on the Red Bull Cliff Diving World Series. I look forward to another exciting year,” he added.
As sports director, the Olympian will oversee every athletic and logistical aspect of the competition, ensuring that all safety measures are met as well as the consistent implementation of competition rules across all the competitors.
“Some of the safety measures we look for is if the diving heights meet the standard requirements of 27 meters for the men and 21 meters for the women. Also making sure that there is at least five meters water depth which the divers would be diving in,” said Mr. Louganis, a bemedalled diver who competed and won medals in the 1976, ’84 and ’88 Olympics as well as in the FINA World Championships.
This year marks the first time that the Red Bull Cliff Diving World Series will make a stop in the Philippines.
It will take place on the weekend of April 12 in the Small and Big Lagoons located in Miniloc Island in El Nido.
It will be the only Asian stop for the year of the series, which will move to Dublin, Ireland, after the Philippines for the second leg.
The Red Bull Cliff Diving World Series-Season 11 will be broadcast live via Red Bull TV.
Viewers in the Philippines may also watch the full event, along with the remaining six stops of the 2019 World Series on S+A and iWant Sports (iwant.ph), 5PLUS and 5plus.com.ph, FOX Sports, FOX Sports GO, FOX+ app, and online at http://www.foxsports.ph. — Michael Angelo S. Murillo
LETRAN-Manila and Durham Crossover-Toronto emerged victorious to earn the first tickets to the Fantastic 8 of the Division 1 in the 2019 Chooks-to-Go NBTC League National Finals presented by SM, Wednesday at SM Mall of Asia Arena.
The 8-seed Squires opened Day Three with a big 60-57 come-from-behind win over 9-seed Hope Christian-Manila behind the efforts of John Tabajen whose relentless effort allowed them to fight back from a 12-point first half deficit.
Tabajen’s putback in the final minute sealed the victory as he finished with a double-double of 12 points and 12 rebounds in the Supreme 16 of the national championship for high school sponsored by Chooks-to-Go, Darlington-Exped Socks, EPSON, Huawei, Freego, Purefoods, Gatorade, Go for Gold, SM, Molten, and presented by 5Plus and Lighthouse Events.
Andrei Romenez topped Letran-Manila with 14 points and three rebounds, CJ Saure got 13 points and 12 boards, and Shawn Umali scored 10 points and hauled down 16 rebounds in the win.
It was a tough defeat for the Soldiers who lost four-time NBTC All-Star and top gun Harvey Pagsanjan with three minutes remaining after his second unsportsmanlike foul, ending his day with a statline of 19 points and five rebounds.
Durham Crossover-Toronto, meanwhile, progressed to its first Fantastic 8 berth with a 109-75 trouncing of Sta. Clarita International-Iloilo to end the 26-seed’s Cinderella run.
Tyler Garcia poured 32 points for 10-seed Toronto as Marc Casilla added 17 points and seven rebounds.
Meanwhile, at Palm Coast Marina, Sto. Domingo National HS-Legazpi held off Narvacan National HS-Candon, 72-62, even as First City Providential College-Bulacan blasted University of San Jose-Recoletos-Cebu, 75-50, to be the first teams to advance to the Division 2 Fantastic 8.
Medwin Ariate poured in 17 points, John Nagar got 16 points, as JD Areno went a rebound shy of a double-double his 15 points and nine rebounds for Sto. Domingo NHS.
Neil Moralejo, on the other hand, starred for FCPC-Bulacan with his all-around effort of 19 points, seven assists, and six rebounds. Theo Pablico also added 15 points, as John Bravo got 12 points, 16 boards, and three dimes.
Big matchups are still in slate at SM Mall of Asia Arena, with the Jalen Green-led FilAm Sports-USA taking on Kai Sotto and the rest of the Ateneo-Quezon City serving as the marquee matchup at 5 p.m.
UAAP titlist NU-Manila also continues its path to back-to-back NBTC titles when it faces Calayan Educational Foundation-Quezon at 2 p.m., followed by NCAA champion Mapua-Manila bracing for contender FEU-Manila at 3:30 p.m.
The week-long tourney is still free of admission, with fans needing just a valid ID to enter SM Mall of Asia Arena.
The tournament semis and finals, alongside the annual All-Star Game, will be aired live on ESPN5. All games, from the seeding round to the championship round, will also be streamed live over at tv5.espn.com.
THE REGIONAL selection camp of Jr. NBA Philippines 2019 moves to Benguet this weekend where it will share its basketball participation program to boys and girls anchored on fundamentals and core values of the game.
Happening at the Benguet State University from March 23 to 24, beginning at 7:30 a.m., participants ages 10-14 will go through a series of skills stations that will test their dexterity in dribbling, passing, shooting, lay-ups and footwork.
Top performers on the first day will progress to Sunday to be coached on advanced basketball concepts and participate in team exercises and exhibition games.
In the camp, boys and girls will vie for slots to represent North Luzon in the Jr. NBA Philippines National Training Camp in Don Bosco Technical Institute Makati on May 17-19.
Athletes selected in the Benguet Regional Selection Camp will comprise part of the top 40 boys and 40 girls gathered from Regional Selection Camps in Lucena (March 9-10), Dumaguete (March 30-31), Butuan (April 13-14), Metro Manila (April 27-28), and the Alaska Power Camp.
Later in the program a new batch of Jr. NBA Philippines All-Stars will be chosen and will participate in the first Jr. NBA Global Championship Asia Pacific Selection Camp, a week-long selection camp in June with top youth players from North Asia, Southeast Asia and the Pacific region.
In addition, the top performing 10 boys and 10 girls will represent Asia-Pacific in the second Jr. NBA Global Championship held Aug. 6-11 at the ESPN Wide World of Sports Complex at Walt Disney World near Orlando, Florida. The international event will feature talented youth from the United States, Canada, Latin America, Europe, the Middle East, China, Mexico, Africa, India and the Asia-Pacific.
Jr. NBA Philippines 2019 is presented by Alaska, with AXA, Gatorade, Globe, Panasonic, Rexona, and Vivo as official partners. ABS-CBN S+A, Basketball TV and NBA Premium TV are the official broadcasters of Jr. NBA Philippines.
Participants can register for the Jr. NBA program online at www.jrnba.asia/philippines, and follow Jr. NBA on Facebook and the NBA at www.nba.com and on Facebook and Twitter. — Michael Angelo S. Murillo
DENNIS Orcollo of Bislig, Surigao del Sur and Warren Kiamco of Pasil, Cebu topped the Billiard Sports Confederation of the Philippines (BSCP) qualifying events of the men’s 9-ball pool single competitions held at the Gameball, PSC building in Rizal Memorial Stadium, Manila on March 17 and 18.
Orcollo defeated Kiamco, 11-9, to top the Qualifier 1. On the other hand, Kiamco outlasted Carlo Biado, 11-9, to top Qualifier 2 via loser’s brackets.
Earlier, Orcollo toppled Jundel “Jano” Mazon, 11-8, and Jeffrey Ignacio, 11-7, to face Kiamco, in the third round of winner’s brackets, who brought down Efren “Bata” Reyes, 11-7, and Biado, 11-4.
According to Jesse Gonzales Cambosa Sr., director of BSCP headed by Philippine Billiards God Father Aristeo “Putch” Puyat that Orcollo and Kiamco, will join Chezka Luy Centeno and Rubilen “Bingkay” Amit to represent the country in the 9-ball pool single competitions of the this year’s Manila Southeast Asian Games.
Meanwhile, the men’s 10-ball pool single competitions gets going on March 25 and 26. Orcollo will face Francisco “Django” Bustamante, Kiamco goes up against Rodrigo “Edgie Marilalo” Geronimo, Biado opposite Roland “Kabuto” Garcia and Reyes versus Johann “Bubwit” Chua.
In the women’s play 10-ball, Centeno will meet Riza Mae dela Cruz, Amit will play against Carmille Buhat, Floriza Andal will test the mettle of Denise Santos, and Iris Ranola versus Geona Gregorio on March 20 and 21. — Marlon Bernardino
The Philippine Olympiad team has had a lot of bad coaches over the years. There was one, for example, who spent the whole day in the casino and only showed up the next morning to announce the line-up for the games in the afternoon. There was another very horrible person who even stole the ball pens furnished by the organizers for the players.
Then there were some very good ones, and I would like to mention in particular GM Jayson Gonzales who handled the women’s Olympiad team for the 2018 Batumi Olympiad.
When I went through the games of our women players I noticed that they were always prepared in the openings and knew how to transition to endgames with minimal complications, always observing the DAUT rule. This is the mark of a good coach. WIM Bernadette Galas
What is the DAUT rule? Many years ago the English GM John Nunn wrote a book on the “Secrets of Practical Chess” and invented that term, which is an acronym for “Don’t Analyze Unnecessary Tactics.” According to him, “tactical analysis is an error-prone activity. Overlooking one important finesse can completely change the result of the analysis. If it is possible to decide on your move on purely positional considerations then you should do so; it is quicker and more reliable. There are, of course, many positions in which concrete analysis is essential, but even in these cases you should not analyze specific variations more than necessary.” And that advice is coming from a great tactician, 3-time world problem-solving champion, and in his time among the Top 10 players in the world.
I have always been impressed with WIM Bernadette Galas. She is the leader of the UAAP Chess Champion Dela Salle University Lady Archers, leading them to the gold medal with an unbeaten 12/13 score in the last season and also being adjudged Most Valuable Player for the entire league.
Bernadette played a huge role in the Philippines’ 3-1 upset of 15th seed Spain. Here is her wonderful win over WGM Monica Calzetta Ruiz who had started the Olympiad strongly with 3.5/4.
This was my first game using 1.d4 and I never thought that this game will turn out just fine. 1.d4 Nf6 2.Bg5 Ne4 3.Bf4 c5 4.f3 Nf6
The Trompowsky. Coach GM Jayson Gonzales noticed that my opponent, WGM Monica Ruiz Calzetta, has a poor score with Black against the Torre/Trompowsky lines and convinced me to go into this. 5.dxc5 Qa5+ 6.Qd2 Qxc5 7.e4 g6
My opponent almost always plays the Sicilian against 1.e4 and I assume that was what she was trying to do here, to transpose to a Sicilian-like formation. When we were going through the various lines our coach GM Jayson pointed out to me that 7…g6 is a blunder because White can win a pawn, and I couldn’t believe my eyes when my opponent actually played it! It is not so easy to see how the pawn can be won, just watch! 8.Nc3 Bg7
So now the trap begins. 9.Be3 Qa5 10.Nb5 Qxd2+
No choice. 10…Qd8? 11.e5 Ng8 12.f4 a6? (12…Nc6 will not lose immediately but Black’s position is unenviable) 13.Qf2! (threatening Bb6) 13…Qa5+ 14.b4 Qxb4+ 15.c3 Black has to give up her queen or else lose a whole rook in the corner. 11.Kxd2
White’s double threat of Nc7+ and Nxa7 cannot both be parried — Black has to give up the pawn on a7. 11…Na6 12.Nxa7 0 — 0
After winning the pawn I was thinking that my kingside pieces have not yet been properly developed so to limit the possibility of my opponent taking advantage of this I decided to immediately exchange pieces and go into the endgame. 13.Bxa6 bxa6 14.Nxc8 Rfxc8 15.Ne2 Rab8 16.Rab1 d5 17.e5 Nd7 18.f4 Nc5 19.c3 Ne4+
And now after this move, I am completely has the advantage, according to engines. 20.Kc2
After this move, I was thinking, what if I played Kd3 instead? but then I realized that she can play again Nc5+ and I dont want to exchange my bishop to her Knight too early. 20…e6 21.Bd4 h5 22.b4 Rc4 23.Kd3 Bh6
All I ever think during this game was to restrict all of my opponent’s pieces so that she will not have the chance to recover and to counter. 24.Rhf1 Rbc8 25.Rb3 Bf8 26.Ng3 Nxg3 27.hxg3 Be7 <D> POSITION AFTER 27…BE7
Now comes my favorite move of the game. 28.Ra1!
Preparing to push my queenside pawns. I have studied this position for several hours after the game and do not see a defense for Black against this plan. Afterwards coach GM Gonzales told me that this was “Karpovian Technique” in reference to the 12th world champion. I was really very happy to hear that! There are hardly any tactics to calculate for the rest of the game — just a plan and to stick to it. 28…R4c6 29.a4 Rb8 30.b5 Rc4 31.b6 Bc5 32.Bxc5 Rxc5 33.a5
In order to win I have to bring my king to the queenside to support the pawns there. It looks like Ra1 — a4 followed by c3 — c4 is the only way to do that. 33…Kf8 34.Ra4 Ke8 35.Kd4 Rcc8 36.c4 dxc4 37.Rxc4 Rd8+ 38.Kc3
OK, my king is in the queenside. Now I have to find a way to bring it up the board. 38…Rd5 39.Kb4 Rbd8 40.Ka4
So that I can play Rc4 — c7 and be able to interpose with the rook on b4 should Black play …Rd5 — d4+. 40…Rb8 41.Rc7 Rd4+ 42.Rb4 Rd2 43.Rbc4 Ra2+ 44.Kb4 Rb2+ 45.Ka3
I did not play 45.Kc5 because of 45…Rb5+ followed by Black taking the a5 — pawn, but in reality 46.Kc6 Rxa5 47.b7 is still won for White. But anyway even if I had seen this I wouldn’t have played it as the text move wins just as easily with no complications. 45…Rb5 46.R7c5 Rxc5 47.Rxc5 Rb7 48.Rc6
[48.Rc8+ wins as well] 48…Kd7 49.Rd6+ Ke7 50.Kb4 f6 51.Kc5 fxe5 52.fxe5 Rb8 53.Kc6 Rc8+ 54.Kb7 Rc5 55.Kxa6 Rxe5 56.Rd3 1 — 0
WIM Marie Antoinette San Diego is Bernadette’s teammate both in the Philippine Olympiad team and in La Salle. Here we get to see her excellent preparation.
San Diego, Marie Antoinette (2102) — Gvetadze, Sofio (2325) [E90]
43rd Olympiad Batumi 2018 Women Batumi (7.3), 01.10.2018
[WIM Marie Antoinette San Diego]
1.d4 Nf6 2.c4 c5 3.d5 g6
I expected this setup from IM Gvetadze, I looked through her recent games and I noticed that this is the setup she usually goes for. 4.Nc3 Bg7 5.e4 0 — 0 6.Nf3 d6 7.h3 e6 8.Bd3 exd5 9.exd5 Re8+ 10.Be3 Nbd7
My coach and I analyzed 10…Bh6 If my opponent went with this move, I think I would already have the advantage. 11.0 — 0 Bxe3 12.fxe3 Nbd7 (12…Rxe3? 13.Qd2 Re8 14.Qh6 Nbd7 15.Ng5 Re7 (15…Qe7 16.Nce4 with a winning attack. Sambuev,B (2562)-Khruschiov,A (2440) Tula 2004 1 — 0 23) 16.Nb5 White has a clear, if not winning, advantage) 13.Qd2 Nh5 14.e4 Ne5 15.Nxe5 Rxe5 16.Rf3 Bd7 17.Raf1 likewise, the first player has the advantage. Alonso Rosell,A (2524)-Latorre,M (2298) Linares 2016 1 — 0 30 11.0 — 0 a6 12.Qd2
Just doing the last thing in the opening principles, to connect the rooks plus the possible threat to exchange dark-squared bishops. 12…Rb8
An over-refinement. Black could have played 12…b5 right away. 13.a4 Nh5N
I spent a lot of time thinking about this move. My idea is to prevent her move f5 and to threaten her Knight to go back to his square. Even though it weakens my King’s position, I think it is worth it because I was gaining space. Little did I know she won’t mind the threat… 14.g4 Ne5 15.Nxe5 Rxe5 16.Rfe1
[16.gxh5 was possible: 16…Bxh3 17.Bf4 Bxf1 18.Bxe5 Bxe5 19.Bxf1 Qh4 20.Bg2 with White a piece up but still under attack] 16…Qh4 17.Bf1 Bxg4 18.hxg4 Qxg4+ 19.Bg2 f5
If she had captured on c4 19…Qxc4 then my plan was to play 20.a5 followed by Ra4 to cover the 4th rank with the rook. 20.Qe2 Qh4 21.Qd3 Rbe8 22.Bd2 Nf6?
Better was 22…Nf4 23.Qg3 Nxg2 24.Kxg2 Qxc4 and Black’s attack is still going strong and in the meantime she already has three pawns for the sacrificed piece. 23.Rxe5 Rxe5 24.f4?
Now is my time to falter. I moved this with the idea of exchanging queens after Qh3 but I missed Black’s next move. Better was 24.Rf1. The f4 square must be kept open for Bf4 in case Black attacks with …Ng4. 24…Ng4 25.fxe5
After this move Black forces perpetual check. 25…Qf2+ 26.Kh1 Qh4+ 27.Kg1 Qf2+ 28.Kh1 Qh4+ 29.Kg1 Qf2+ 30.Kh1 Qh4+ 31.Kg1 ½ — ½
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 for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies. bobby@cpamd.net
The Spurs oozed with extreme confidence heading into their homestand the other day, and not simply because the vaunted Warriors were missing vital cogs DeMarcus Cousins and Andre Iguodala due to injury. Having previously prevailed in 10 straight matches at the AT&T Center and in the midst of an eight-game winning run, they figured they were prepared to take the measure of the still-formidable challenge that awaited them. Success begets more success, with the adage no more evident than in the context of their consistent competitiveness through two decades under the Gregg Popovich dispensation.
To be sure, the Spurs looked nowhere near to being, well, themselves prior to the turn of the month. They emerged from their latest Radio Road Trip foray bruised and battered, their 1-7 slate reflective of their utter lack of identity on defense. Certainly, their poor performances on the side of the court Popovich prefers to have them hang their hats on are reflective of their makeup; certain regulars on their rotation aren’t exactly known for excellent — or, in cases, even serviceable — on-ball coverage. And while they accounted for the departures of Kawhi Leonard, Danny Green, and Kyle Anderson, they didn’t plan on All-Defensive Team selection Dejounte Murray sitting out the season to recover from a torn anterior cruciate ligament.
At the time of the Spurs’ uncharacteristic swoon, Popovich appeared prepared to accept his charges’ shortcomings. Behind the scenes, however, they continued to put in the work required for them to forge ahead. For all their individual deficiencies, they believed the long-standing culture of the black and silver would invariably enable them to be greater than the sum of their parts. And, lo and behold, they’ve been proven right: Since their brutal nosedive, they’ve surged on the strength of defensive metrics at or near the top of the National Basketball Association.
Fool’s gold? Perhaps not. Of the Spurs’ nine straight victories, six have been against squads with records no worse than sixth in conference standings. More importantly, their list of conquests includes the league-leading Bucks, Nuggets, and Warriors. How well they’re able to keep plugging remains to be seen, but one thing’s clear: They understand that excellence has no limits, and that opportunities to improve abound, even in cases where the outcomes aren’t as desired.
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.
DEFENSE SECRETARY Delfin N. Lorenzana said Islamic State (IS) members fleeing Syria, particularly Malaysians and Indonesians, could possibly enter the Philippines through backdoor points, but assured that these extremists will find no “haven” in the country.
“We are not yet certain that those coming from Syria will arrive here because they are still there. Their area is still being contested but we expect some of them to be trickling back soon,” said Mr. Lorenzana in a chance interview with reporters on March 20 at the Philippine Army Headquarters in Taguig City.
“Ang marami ay (Most of them are) Indonesians, Malaysians, and because of our porous border in the south, they can just move from one place to another. That’s why we are intensifying our patrols sa (in the) south,” he said.
Mr. Lorenzana also clarified that the ten foreigner IS members believed to be in the country did not come from Syria.
The Defense chief said intelligence reports also indicate that these foreigner are not located in one stronghold, but are scattered in different parts of Mindanao.
“They are distributed, some are in Jolo, some are in Basilan, some are in central Mindanao, scattered.”
Despite the threat of the possible entry of foreign terrorists from Syria in the country, Mr. Lorenzana said it is unlikely that they would be able to establish enclaves.
“It is worrying, but there’s no safe haven for them here saPilipinas. They move around constantly when there are troops. But there is no such thing like an enclave they can stay here,” he said.
He added, “If they come in by the usual route, by the airport, then we might be able to identify them and grab them. But most probably they will come in through the backdoor.” ABU SAYYAF
Meanwhile, the military reported on Wednesday that two members of the kidnap-for-ransom Abu Sayyaf Group (ASG), which has pledged allegiance to IS, were killed in operations in the island provinces of Basilan and Sulu.
Adam Asarakil, alias Abu Malik, a follower of ASG leader Furidji Indama was killed in a gunfight with military troops on March 19 in Ungkaya Pukan, Basilan.
An ASG camp that can fit up to 15 individuals as well as an M16 rifle were discovered by the military after the firefight.
Lt. Gen. Arnel B. Dela Vega, commander of the Western Mindanao Command, said, “Ground troops are determined to hunt militants and penetrate enemy lairs, taking prudent actions to neutralize terrorists in Basilan.”
In Sulu, an undetermined number of ASG members were encountered by the military troops in Barangay Simusa Island, Banguingui on March 18, where sub-leader Angah Ajid was killed and another wounded.
“The Army will go after those who would want to harm our people and distract us from bringing peace and development to our countrymen in Sulu and in other parts of the country,” Lt. Gen. Macairog S. Alberto, commanding general of the Philippine Army, said in a statement on Wednesday.
Ajid was the last remaining Abu Sayyaf leader involved in the Sipadan, Malaysia kidnapping in 2000.
Mr. Dela Vega said, “We will continuously employ more pressure on them to rescue the remaining captives and gain more enemy strongholds.”
As of December 2018, the military said the Abu Sayyaf were still holding six captives, three of whom are foreigners and the rest Filipinos. — Vince Angelo C. Ferreraswith a report fromTajallih S. Basman
THE PESO traded sideways versus the dollar yesterday, with the mild strength reflecting profit taking as investors await the results of rate-setting meetings by the United States and Philippine central banks.
The peso closed at P52.81 against the greenback, two centavos stronger versus Tuesday’s finish of P52.83.
The local unit opened weaker at P52.90 and even hit an intraday low of P52.95 to a dollar. It touched a peak of P52.80 versus the greenback before settling at the closing rate.
Two traders interviewed by phone said Wednesday’s trading largely reflected the wait-and-see stance taken by market players ahead of two market-moving policy decisions.
“The peso went sideways with the Monetary Board and Fed meetings [today]. The market is waiting for that,” one currency trader said.
The US Federal Reserve will announce their rate decision early Thursday (Manila time). Back home, the seven-member Monetary Board will hold their second rate-setting meeting for this year, which will be the first to be led by new Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.
The second trader noted that while the currency traded higher in the morning, it was then sold later in the session as industry players did not make big bets ahead of the crucial interest rate decisions.
“The market is just taking profit — there’s no position taking.”
Dollars traded yesterday amounted to $870.8 million, down from the $1.141 billion that exchanged hands on Tuesday.
For today, the first trader sees the peso trading within P50.70 to P50.90, while the other trader gave a wider range of P52.75 to P53. The second trader noted that the peso will likely grow “very strong” by Friday should the BSP leave rates unchanged. — Melissa Luz T. Lopez
By Arra B. Francia, Reporter
LOCAL SHARES recovered on Wednesday even as investors remained on the sidelines as they waited for more developments on the US-China trade talks and the Federal Reserve’s policy review.
The bellwether Philippine Stock Exchange index (PSEi) firmed up 0.18% or 14.79 points to close at 7,858.20, slightly bouncing back from the previous session’s losses. The broader all-shares index likewise rose 0.29% or 14.20 points to 4,847.49.
“With the trade talks stalling on differences and the Federal Reserve watch continuing, investors bought into Philippine shares as refuge,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile phone message.
Negotiators for the US and China are reported to meet in Beijing next week for another round of high-level trade talks, after which they will then have another meeting in Washington for more negotiations.
Both sides are seen to come up with a final deal by April or a month later than originally expected.
Investors are also waiting for results of the Federal Reserve’s two-day policy meeting, where the US central bank is seen to set a more dovish tone for the year.
The Bangko Sentral ng Pilipinas (BSP) Monetary Board is also scheduled to meet on Thursday, prompting the market to maintain a wait-and-see mode, according to Papa Securities Corp. Sales Associate Gabriel Jose F. Perez.
“Consensus largely expects policy rates to remain steady, but we might see a cut in the Reserve Requirement in line with BSP Governor (Benjamin E.) Diokno’s recent statements that there could be one cut every quarter for the next four quarters,” Mr. Perez said in an e-mail.
The PSEi bucked the weakness seen in markets overseas, which mostly fell due to uncertainties in the ongoing trade talks.
The Dow Jones Industrial Average slipped 0.1% or 26.72 points to 25,887.38, while the S&P 500 index slumped 0.37 points or 0.01% to 2,832.57. In contrast, the Nasdaq Composite index increased 0.12% or 9.47 points to 7,723.95.
Back home, holding firms was the lone counter that ended in negative territory, losing 0.47% or 36.89 points to end at 7,723.62.
The rest increased, led by mining and oil which soared 2.15% or 175.58 points to 8,323.86. Property followed with a 1.01% increase or 40.71 points to 4,037.02, while industrials climbed 0.6% or 70.11 points to 11,645.28. Services added 0.53% or 8.38 points to 1,581.64 and financials edged higher by 0.17% or 3.11 points to 1,775.30.
Some 594.60 million issues valued at P5.46 billion switched hands, slightly lower than Tuesday’s P5.97 billion.
Foreign investors remained net sellers at P370.72 million, higher than the previous session’s net sales figure of P70.34 million.
Advancers outpaced decliners, 102 to 78, while 68 names were unchanged.
THE COURT of Appeals (CA) denied the petition of Senator Antonio F. Trillanes IV to stop the trial for his revived rebellion case in connection with the 2007 Manila Peninsula siege.
In a three-page resolution on March 18, the appellate court’s ninth division junked the senator’s application for writ of preliminary injunction or a temporary restraining order to stop the Makati City Regional Trial Court (RTC) Branch 150 from proceeding with his reopened case.
“We may not temporarily restrain or preliminary enjoin the prosecution of the criminal action for rebellion at this stage because to do so would be to grant the principal prayer for certiorari, prohibition and/or injunction without the benefit of a hearing,” the CA ruled.
“Accordingly, the application for a temporary restraining order or a writ of preliminary prohibitory injunction is denied at this time,” it added.
The CA, instead, ordered Judge Elmo M. Alameda of Branch 150 and the Department of Justice (DoJ) to file their comment on the petition within 10 days from the receipt of the resolution.
It also asked Mr. Trillanes to file his reply to the comment within five days upon receipt of its copy.
In a statement, Mr. Trillanes’ legal counsel, Reynaldo B. Robles, said they are thankful that the court acted upon the senator’s petition by requiring the RTC to comment on the petition.
“While we note that the Honorable Court has in the ‘in the meantime’ decided to deny our application for a temporary restraining order (TRO) or injunctive relief, the same does not appear to be necessary at this time in the light of the recent ruling of the RTC of Makati — Branch 150 to defer the hearing of the rebellion case to May 27, 2019 due to conflict of schedule,” he said.
“We are hopeful that the Honorable Court of Appeals will eventually uphold the merit of our Petition in due time,” he added.
Mr. Alameda on Sept. 25, 2018 issued an arrest warrant and hold departure order against Mr. Trillanes for his rebellion case following the motion of the DoJ after President Rodrigo R. Duterte revoked his amnesty on Aug. 31 last year. — Vann Marlo M. Villegas
THE BORACAY Inter-Agency Task Force (BIATF) has carried out the demolition of Boracay Plaza Beach Resort’s structures found in violation of the 30-meter easement zone after its operator failed to heed orders for self-demolition.
The Department of Environment and Natural Resources (DENR), the lead agency of the BIATF, said on Wednesday that the resort has not been given the required permits to operate.
The resort, owned by a certain Anita Aguirre, has structures built on approximately 1,000 square meters of land within the easement zone, according to the DENR.
“Erring establishments had already been given more than enough time to shape up since the closure,” DENR Secretary Roy A. Cimatu said in a statement.
“It would be unfair to those who voluntarily demolished and complied with the easement rule if we will not enforce the law to those who did not,” he added.
DENR said Boracay Plaza was issued orders to vacate and self-demolish its structure in April 2018, when the island was closed for rehabilitation.
On Feb. 28 this year, the BIATF gave a 15-day ultimatum to 10 establishments to self demolish their structures for being located within the easement zone, all of which complied except for Boracay Plaza, DENR said.
The other nine establishment are: Blue Lilly Hotel, Calveston International Inc, Exclusive Dawn VIP Boracay Resort, Little Prairie Inn, New Wave Divers, Steve’s Cliff/Boracay Terraces Resort, True Homes, Watercolors Dive Shop, and Willy’s Rock Resort.
Boracay was closed last year for a six-month rehabilitation after President Rodrigo R. Duterte called it a “cesspool” due to waste water from establishments going directly to the sea for lack of sewage treatment facilities. — Reicelene Joy N. Ignacio
PHILIPPINE DRUG Enforcement Agency (PDEA) Director General Aaron N. Aquino warned politicians in the controversial narco-list that they may face charges if they leave the country without proper authorization or violate the terms of such authorization. “First of all, we should know if they were authorized to travel abroad, because they should be authorized first by DILG (Department of Interior and Local Government)… then we will find out if there are some violations in their travel,” said Mr. Aquino, speaking in mixed English and Filipino, in a phone interview with BusinessWorld on Wednesday, March 20. According to a recent report, Sinacaban Mayor Crisinciano Mahilac, one of the 46 alleged narco-politicians, left the country. DILG Spokesperson Jonathan E. Malaya said, “Unless a hold departure order or watchlist order is issued by a competent court or by DOJ (Department of Justice), the foreign travel of mayor in the narco-list is still covered by the provisions of the Local Government Code… So long as he complies with it and there is no legal and compelling reason to prohibit him, he may be allowed to travel.” — Vince Angelo C. Ferreras
