Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 984

Gauff wins first WTA Finals trophy

RIYADH — American Coco Gauff had a bitterly disappointing summer but on Saturday the youngster was able to celebrate lifting her first WTA Finals trophy, regaining her confidence after a string of frustrating defeats to end her year on a high note.

The 20-year-old showed her mettle against China’s Olympic champion Zheng Qinwen in the Riyadh finale, coming back from a set down and holding her nerve through a gritty three-hour and four-minute affair to win 3-6 6-4 7-6(2).

The first WTA Finals title for Gauff was made sweeter after a mid-year derailment when attempts to rebuild her serve led to repeated frustrations on the tour and a coaching shake-up.

“It’s been a long season,” Gauff said with the gleaming silver trophy in her hand in Riyadh, thanking her family and team for sticking with her through the ups and the downs.

Gauff’s year had started on the right track as she won in Auckland and reached the semifinals at the Australian Open. But the season began to crumble with a fourth-round defeat at Wimbledon and third-round exit at the Paris Games.

She was unable to reset for her US Open title defense after shock early exits in Toronto and Cincinnati and left New York after a dreadful fourth-round defeat by Emma Navarro, when she was plagued by 19 double faults.

Gauff split from coach Brad Gilbert and flipped the script weeks later, however, winning her second WTA 1000 title last month at the China Open before reaching the Wuhan Open semis.

It was clear she had got back to top form in Riyadh as she beat her key antagonist, Poland’s world number two Iga Swiatek, in the group stage and battled past the top-ranked Aryna Sabalenka of Belarus to reach the championship match.

“I know (I) tend to focus on ‘doubters/haters’ but this one is really for all of my supporters! Ya’ll held it down for me win or lose!” Gauff wrote in a post on X after clinching the title.

“I know some of you are a little bit petty like me so it does feel nice to silence them for a bit.”

The youngest player to win the season-ending WTA Finals since Maria Sharapova two decades ago, Gauff leaves the first professional women’s tennis tournament in Saudi Arabia more than $4.8 million richer and with a WTA title at every level.

“Safe to say I beat the bad season allegations,” wrote Gauff. — Reuters

Angry Giannis

Giannis Antetokounmpo once again vented his frustrations in the aftermath of the Bucks’ loss to the Knicks the other day. He had reason to be angry, to be sure; after having come off what seemed to be a statement victory against the admittedly overmatched Jazz, the green and cream started — and stayed — flat at the Garden for yet another disappointing outcome. The 22-point setback in which they failed to claim a single quarter put them at an atrocious 2-7 for the season, second-worst thus far in the so-called Leastern Conference.

To argue that Antetokounmpo has had far better post-match pressers than that which followed the Bucks’ poor showing would be to understate the obvious. He was most definitely in a foul mood; in fact, he even called out a scribe who caught his attention while he was in the midst of replying to a query. “Did we compete today? No,” he contended. “If you don’t compete your ass off, you’re not going to win the game.” And the numbers underscore his point: the Knicks had seven more rebounds, six more steals, and five less turnovers en route to the blowout.

It bears noting that Bucks head coach Doc Rivers hasn’t looked fazed by the turn of events. Their travails notwithstanding, he has all but guaranteed that they would make the playoffs. That said, there can be no discounting the tumult that has visited — and threatened to remain in — the locker room. And when Antetokounmpo is disgruntled, it pays to consider changes to the status quo if for nothing else than to appease him. Which is why the front office has begun making calls around the National Basketball Association to gauge interest in trade deals that can improve the roster for immediate impact.

Exploration is all well and good under any circumstance, and especially in times of duress; after all, no limits can be imposed on excellence. Unfortunately, the Bucks are skirting the second apron, and thus cannot green-light any accord in contravention of salary cap rules. Given the extremely limited options, they are faced with little choice but to make the best of what they have. Needless to say, everything depends on a happy Antetokounmpo. And for as long as he’s not, they have no chance of success.

 

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.

Thai ex-central bank governors warn of interference in selection

THE LOGO of Thailand’s central bank is seen at the Bank of Thailand in Bangkok, Thailand, April 26, 2016. — REUTERS FILE PHOTO

BANGKOK — More than 800 leading Thai economists, including four former governors of the Bank of Thailand (BoT), warned on Saturday of political interference in selecting the central bank’s board chairman, saying it could damage long-term economic stability.

The government’s nomination of former Finance Minister Kittirat na Ranong, a ruling party loyalist and staunch critic of BoT Governor Sethaput Suthiwartnarueput, has sparked concerns over the central bank’s independence.

Since taking office last year, the Pheu Thai-led government, now under Prime Minister Paetongtarn Shinawatra, has been at loggerheads with the BoT, pressuring the central bank to cut interest rates in the Southeast Asian nation and raise its inflation target.

The BoT unexpectedly cut rates last month for the first time since 2020.

Should the BoT “carry out the wishes of the political group, then it would tarnish the credibility of the central bank, which must maintain a strong economic stability for the country in the long term,” the 830 economists said in a statement.

The group has previously expressed concern over having a candidate with close political connections who they say has shown an intention to interfere in BoT monetary policy decisions.

Government spokesman Jirayu Houngsub declined to comment on the statement. Kittirat did not immediately respond to a request for comment.

The independent committee selecting the board chairman meets on Monday after delaying its decision this week, saying it needed more time to “consider all aspects of information” amid the tension between the central bank and the government.

The board chairman is not involved in rate decisions but heads the panel that chooses policy committee members. The chair will also be involved in selecting the next BoT governor when Mr. Sethaput’s term ends in September 2025.

There are two other candidates for the role — a former permanent secretary of energy and a former university dean — who were nominated by BoT. Thai law allows the government to nominate one candidate for every two central bank nominees.

Once the seven-member selection committee picks a chairman, its decision requires the approval of the finance minister, the cabinet and Thailand’s king. — Reuters

Thousands protest over handling of Spanish flood disaster

AN AERIAL VIEW of damaged vehicles as people walk past in the aftermath of the flooding caused by heavy rains in Massanassa, Valencia, Spain, Nov. 8, 2024. — REUTERS

VALENCIA — Tens of thousands of people demonstrated in the eastern Spanish city of Valencia on Saturday over regional authorities’ handling of devastating floods that killed more than 220 people in one of Europe’s worst natural disasters for decades.

In the latest demonstration over the floods, protesters filled the centre of Valencia demanding the resignation of regional government leader Carlos Mazon and chanting “Killers!”

“Our hands are stained with mud, yours with blood,” read one banner. Some demonstrators dumped dirty boots outside the government building while others plastered it with mud.

Residents in stricken areas accuse Mazon of issuing an alert too late, at 8 p.m. on Oct. 29, well after water was already pouring into many nearby towns and villages.

The Valencian leader has said he would have issued an earlier alarm earlier if authorities had been notified of the seriousness of the situation by an official water monitoring body. Mazon did not respond to Reuters’ requests for comment.

“We want to show our indignation and anger over the poor management of this disaster which has affected so many people,” said Anna Oliver, president of Accio Cultural del Pais Valenciano, one of about 30 groups that organized the protest.

Though the demonstration was largely peaceful, police charged stone-throwing protesters at one point and objects hurled at the city council building caused minor damage.

Following days of storm warnings from the national weather service from Oct. 25 onward, some municipalities and local bodies raised the alarm much earlier than the regional government.

For example, Valencia University told its staff on Oct. 28 not to come to work. Several town halls suspended activities, shut down public facilities and told people to stay home.

Weather service AEMET raised its threat level for heavy rains in the area to a red alert at 7:36 a.m. on Oct. 29.

Nearly 80 people are still missing in what is the most deadly deluge in a single European country since floods in Portugal in 1967 killed around 500. — Reuters

China, Indonesia enhance ties with key deals on lithium, green energy, tourism

PIXABAY

BEIJING — China and Indonesia have agreed to strengthen cooperation in key sectors, including lithium, new energy vehicles, green energy and tourism, according to a joint statement released on Saturday.

The statement followed a meeting between Chinese President Xi Jinping and Indonesian President Prabowo Subianto, who is visiting China through November 10, the first country he has visited since taking office last month.

Prabowo, who won Indonesia’s presidential election in February, also chose China as the first country to visit as president elect, underscoring Jakarta’s commitment to strengthening its strategic ties with Beijing.

“China and Indonesia will work together to cultivate new drivers of global development, exploring cooperation potential in areas such as new energy vehicles, lithium batteries, and photovoltaics, while seizing opportunities in digital economy and green development sectors,” the statement said.

Both nations also plan to collaborate more closely in the mining sector, leveraging their respective resource endowments and production capacities.

In efforts to revive and surpass pre-pandemic tourism levels, the two countries will introduce new visa measures, including multi-entry long-term visas, and encourage more direct flights and destinations based on demand.

During Prabowo’s visit, both sides signed several cooperation deals, including in housing and the export of fresh coconuts from Indonesia to China. — Reuters

Greece’s mussel harvest wiped out by warming seas

EN.WIKIPEDIA.ORG

THERMAIC GULF  — When Anastasios Zakalkas pulled up the ropes of his mussel farm in the Aegean Sea last month, the devastation was clear: the lines were not heaving with molluscs as they should be at harvest time but were instead filled with cracked, empty shells.

It is the second time in three years that record sea temperatures have hit the mussel harvest in northern Greece, where farmers said they saw a 90% drop in the 2024 catch. Next year will be a dud too, Zakalkas said, because all the seed for the coming season also perished.

“The destruction we suffered (for next year) was 100%,” 35-year-old Zakalkas said aboard his fishing boat on a balmy morning in late October. “We don’t know how we’ll make a living in the new year. Our main and only job is mussels,” he said.

Like other Mediterranean countries, Greece is particularly susceptible to climate change, which this year led to months of above-average temperatures, punishing drought and wildfires. Crops, including chestnuts, apples and cherries have been hit. Scientists say extreme weather linked to global warming could spell bad news for its aquaculture sector too.

A series of heatwaves hit Greece in July, sending sea temperatures in the Thermaic Gulf, its main mussel producing area, above 30 degrees Celsius (86°F) for days — too hot for mussels to survive.

Greece last saw mass mussel deaths in 2021 but scientists forecast that it would not be repeated for another 10 years, said Kostas Koukaras, a biologist who studies marine ecosystems.

“This shows, even to those most sceptical, that the climate crisis is here,” he said.

As world leaders prepare to meet in Azerbaijan’s capital Baku for this month’s United Nations  climate summit Conference of the Parties (COP29) — dubbed the “climate finance COP” — Koukaras said governments should help producers deal with climate-related costs.

“We’re very close to the collapse of mussel farming in Greece, so the state needs to support these people,” he said.

Greece’s aquaculture production was worth over 619 million euros in 2021, the third in Europe after France and Spain, according to the Hellenic Aquaculture Producers Organization (HAPO). It is among Europe’s main producers of the Mediterranean mussel and exports nearly all of the 20,000 tons farmed annually by small family businesses.

Spain has also seen mussel deaths, although Koukaras said Greece’s sector was hit hardest because nearly all its farms are concentrated in the same region.

For the 100 or so mussel farming families in Zakalkas’ small town of Kymina, the future looks dim. They are seeking state compensation to pay off debts, while others are looking for work in factories, he said.

“We’re afraid,” said Sotiris Tsaros, another mussel farmer. “If this happens again next year, we’ll all leave and everything I’ve done as a farmer for the last 30 years will be gone.” — Reuters

DoTr prioritizes safety and digitalization in the railway sector

STOCK PHOTO | Image by Hands off my tags! Michael Gaida from Pixabay

by Almira Louise S. Martinez, Reporter

The safety of workers and digitalization training are top priorities in advancing the country’s railway services, according to the Department of Transportation (DoTr). 

With technical assistance from the Japan International Cooperation Agency (JICA), DoTr Undersecretary Anneli R. Lontoc said the Philippine Railway Institute (PRI) recently started using new technologies to help enhance safety training.  

“That is the latest we are including in our training curriculum – the digitalization,” she said at the 2nd Philippine Railway Conference. 

Ms. Lontoc added that the department has purchased additional equipment and looks forward to developing the role of virtual reality (VR) in safety training. 

“The digitalization of PRI’s training modules is a clear manifestation of leveling up to global standards,” Transportation Secretary Jaime J. Bautista said. 

PRI has produced 3,300 trained personnel out of 3,700 rail workers, making it a steady supplier of skilled operators. 

 

Occupational safety and health policy 

Although the DoTr embraces modern technologies, Mr. Bautista also emphasized the importance of safety and security of workers. 

“The attention to safety and security should not diminish as we promote digitalization and operations at training,” he said. “Training rail workers is just one side, the flip side is taking care of them.” 

The DoTr commits to creating an occupational safety and health (OSH) policy for the railway sector to promote workers’ welfare. 

“This policy will mandate the protection and benefits of rail workers to incentivize them to do their best at all times and ensure the safety and security of all passengers,” Mr. Bautista said. 

Through these initiatives, he added that the department pushes for a ‘renaissance’ in the country’s rail industry. 

“We can reclaim the glory of Philippine railways through modern and eco-friendly trains, comfortable and efficient rides.” 

Disaster preparedness of Filipinos increased, but needs more improvement – 2024 Harvard survey

The Philippines is considered one of the countries that is most vulnerable to the impact of climate change. — PHILIPPINE STAR/EDD GUMBAN

Filipinos are more prepared for natural disasters than they were seven years ago, but material investments and social support still needs improvement, according to a nationwide survey conducted between February to March 2024 by the Harvard Humanitarian Initiative (HHI). 

On average, Filipinos’ self-reported disaster preparedness level increased by 42%, as revealed by the HHI survey on disaster preparedness and climate change perceptions in the Philippines. 

The average score – 19.2 out of 50 points – was an improvement over the 13.5 out of 50 gleaned in a 2017 study conducted by HHI using the same methodology and instrument.  

“For a country as vulnerable to disasters as the Philippines, [however,] this is not enough,” Vincenzo Bollettino, director of the HHI Resilient Communities program and co-lead for this study, said. 

“A score of 19.2 highlights both progress and areas needing urgent attention,” he said in a November 7 press statement. 

“The score suggests that Filipinos are only doing 38.4% of the kinds of disaster preparedness activities needed to be prepared,” he added. 

Among the five objective measures of disaster preparedness, Filipinos scored highest in information (4.9 out of 10) and lowest in social support (2.3 out of 10).  

In terms of specific social support activities, less than a quarter of Filipinos are members of a group or association (23%) and are familiar with their local disaster risk reduction and management officers (16%).  

Social support also declined to 2.3 in 2024 from 2.7 out of 10 in 2017. 

While many Filipinos discuss emergency plans as a family (58%), less than a third prepare their respective disaster management plan (20%), Go bag (27%), adequate supplies of regularly taken medications (32%), and first aid kit (33%). 

Regions-wise, the Cordillera Administrative Region (24.0 out of 50), Central Visayas (21.5), and Western Visayas (21.4) reported the highest levels of preparedness. Davao Region (17.3), Negros Island (15.8), and Bangsamoro Autonomous Region in Muslim Mindanao or BARMM (15.1), on the other hand, reported the lowest levels of such preparedness.  

The Philippine capital of Metro Manila ranked 11th in level of disaster preparedness (19.1) and slightly below the national average (19.2). It is also one of the regions with the least progress in disaster preparedness over time, with an increase in preparedness score by 22%, or 3.4 points from 15.7 in 2017. 

“The [National Capital Region] is the heart of the Philippine economy and home for a significant part of the country’s population, yet it is routinely hit by natural hazards,” Mr. Bollettino said. “Increasing its disaster preparedness is crucial.” 

The Philippines has the highest disaster risk in the world, based on the 2024 WorldRiskReport. 

As Patrick Vinck, HHI’s director of research, said: “enhancing the Philippines’ disaster preparedness requires investing in local leadership and leveraging technology to improve early warning systems and community engagement, among other critical measures.” 

“This should be accompanied by investments in resilient infrastructures, local capacities, and anticipatory actions,” he said in the same November 7 press statement. – Patricia B. Mirasol

Reformulated Filipino lechon and banana sauces get approval for US market

Source: https://www.facebook.com/NutriAsia.Inc/

Mang Tomas lechon sauce, UFC banana sauce, and Jufran specialty sauces have been approved by the US Food and Drug Administration (FDA) to resume shipment into the United States, as announced by Nutri-Asia, Inc., the Philippine manufacturer of the products, on November 7. 

On November 4, a social media post by vlogger Cabalen Foodie went viral, noting the temporary halt in shipments of such sauces to the US.

The US FDA issued import alert No. 99-45 on October 25 on products that are or contain unsafe food additives. 

Among the ingredients found in Philippine-made products were Benzoate, a preservative that has a negative impact on gut microbiome; BHA, another preservative with carcinogenic potential; and Potassium Iodate, a dough strengthener that interferes with thyroid functions in high doses. 

Other Philippine companies whose products had been flagged were Heinz UFC Philippines Inc. and HDR FOODS CORPORATION. 

Manufacturers need to “adequately demonstrate that the firm has resolved the conditions that gave rise to the appearance of the violation” to have their products removed from the Red List. 

NutriAsia ensures that its products are compliant with the regulatory requirements in the countries they are exported to, the company said. 

“In the Philippines, food products are legally required to use [the food additive] Potassium Iodate, while the US FDA just very recently announced new requirements around this ingredient,” the statement read. “As such, the discussion around Potassium Iodate today is not a safety issue but rather a regulatory requirement which varies by country.” 

The company has since reformulated its products and has gained approval for release in the US market. – Patricia B. Mirasol

Philippine president signs new laws to assert South China Sea rights, sovereignty

PHILIPPINE COAST GUARD/HANDOUT VIA REUTERS

MANILA – Philippine President Ferdinand Marcos Jr signed two laws on Friday aimed at strengthening the country’s maritime claims and bolstering its territorial integrity, as tensions with China over disputed areas in the South China Sea persist.

The Maritime Zones Act and the Archipelagic Sea Lanes Act would define the Philippines’ maritime entitlements and set designated sea lanes and air routes to reinforce sovereignty and maritime rights under international law.

Mr. Marcos hailed the laws as a demonstration of the Philippines’ commitment to uphold an international rules-based order, and protect its rights to exploit resources peacefully in its exclusive economic zone (EEZ).

“Our people, especially our fisher folk, should be able to pursue their livelihood free from uncertainty and harassment,” Mr. Marcos said. “We must be able to harness mineral and energy resources in our sea bed.”

While the two laws were envisioned to help U.S. ally the Philippines to monitor and defend against potential encroachment, questions remain about how they will be enforced and if they will impact Chinese activity in the Philippine EEZ.

China asserts its claim of sovereignty over almost the entire South China Sea through an armada of coast guard ships, some of which are accused by its neighbours of aggressive conduct and of trying to disrupt energy and fisheries activity in their EEZs.

Senator Francis Tolentino, one of the authors of the maritime zones measure, said he does not expect tensions in Philippine EEZ will be instantly reduced with the implementation of the new laws.

“China will not recognise these, but the imprimatur that we’ll be getting from the international community would strengthen our position,” Mr. Tolentino told a press conference.

China’s embassy in Manila did not immediately respond to a request for comment on the new laws and senator’s remarks.

Mr. Tolentino also said the laws would reinforce a 2016 arbitration ruling on the South China Sea, which declared China’s expansive claims had no basis under international law. China has rejected the 2016 decision. – Reuters

AmCham Philippines to host ‘AmCham Tourism Summit 2024: Elevating Philippine Tourism and Infrastructure for Global Competitiveness’

The American Chamber of Commerce of the Philippines, Inc. (AmCham) is proud to announce the AmCham Tourism Summit 2024, set to take place on Wednesday, Nov. 13, at the Sheraton Manila Hotel in Pasay City. This landmark summit, themed “Elevating Philippine Tourism and Infrastructure for Global Competitiveness,” will unite prominent industry leaders, government officials, and stakeholders to discuss transformative developments in the Philippine tourism landscape.

The summit will provide a deep dive into critical areas shaping the future of Philippine tourism, including the country’s potential as a healthcare destination in medical tourism, sustainable tourism practices aimed at long-term ecological balance, and measures to enhance security and disaster preparedness for safer travel experiences. Furthermore, discussions will cover urban connectivity and infrastructure development, emphasizing the essential role of seamless transportation networks and modern facilities in creating an accessible and competitive tourism industry.

Bringing this summit to life are event partners whose support underscores their commitment to advancing Philippine tourism. United Airlines joins as the Official Airline Partner, alongside other sponsors, Sheraton Manila Hotel, AGC Development Corp., Converge Business, and Quantity Solutions Inc. Together, these partnerships embody a shared vision for a globally competitive tourism industry that drives economic growth and development.

The AmCham Tourism Summit 2024 offers a valuable platform for fostering strategic dialogue, promoting innovation, and cultivating partnerships among key players in the industry who are collectively working to enhance the Philippines’ position on the global tourism stage.

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

Trump win spurs defense ally Philippines to shield economic ties

PIXABAY

The return of Donald Trump to the White House is unlikely to reshape the US and the Philippines’ longstanding security alliance, but his economic policies and their impact would take center stage, according to Manila’s envoy to Washington.

“Our interests are very much aligned. It is going to be beneficial for both our countries,” Ambassador Jose Manuel Romualdez said in an interview Thursday at his Washington office. “I am convinced and confident that there will be no major changes especially on the defense side.”

Manila plans to capitalize on strengthened defense ties to continue scoring economic benefits from Washington during Trump’s second term, according to the envoy. The Philippines is seeking to sustain the flow of infrastructure aid and investment pledges from the US that ramped up under Joe Biden, as Mr. Trump’s protectionist policies risk roiling the global economy.

“On the economic side, that’s where we need to be able to see what his policies would be and how it would affect the Philippines,” Mr. Romualdez said. “It’s a matter of being able to negotiate a level that we would both agree is good for our countries,” he said of President-elect Trump’s plan to impose steep tariffs on all US imports, especially those from China.

Among the US’ oldest allies in Asia and one of the region’s fast-growing economies, the Philippines is preparing to mount a campaign to convince the Trump administration to consider the Southeast Asian nation as a supply chain partner as the superpower rebuilds its manufacturing sector, the envoy said.

NOT WORRIED
Mr. Romualdez isn’t worried at all that the next US administration could significantly alter Washington’s current strategy of countering China’s aggression in the region. It was during Mr. Trump’s first term, he said, that the US made the assurance that South China Sea is covered under the 1951 Mutual Defense Treaty.

Mr. Romualdez recalled Mr. Trump saying in 2017 when he visited the Philippines that the country “is in a geopolitical place where it is the most expensive piece of real estate” because of its proximity to the South China Sea.

If the South China Sea, which is a key route for trillions of dollars of trade, falls under the control of China, the US will be “severely affected,” the envoy said.

Manila and Washington have bolstered their defense alliance, with President Ferdinand Marcos Jr. expanding US access to Philippine military facilities, and holding joint drills in disputed waters.

Mr. Romualdez, a cousin of President Marcos, has been Manila’s envoy to the US since 2017. He was instrumental in stabilizing the alliance, after the relationship faced headwinds during the past administration of Rodrigo Duterte, who forged warmer ties with China and was critical of Washington.

The ambassador said he had been in touch with former Trump administration officials and other Republican leaders during the campaign.

“Our argument has always been: we want to be economically strong, economically prosperous so we would have the resources to defend ourselves, upgrade our armed forces with our own resources and whatever resources the US would be willing to assist us so that we can be a real partner,” Mr. Romualdez said. — Bloomberg

1...983984985...12,801Page 984 of 12,801
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube