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US official says successful fishery talks crucial for WTO

WASHINGTON — The United States said on Thursday it was pushing hard for the World Trade Organization to reach agreement on cutting fishing subsidies in coming months and viewed those talks as a test of whether the global body can still achieve multilateral deals.

Deputy US Trade Representative Dennis Shea, the US envoy to the Geneva-based WTO, said a successful outcome would have “enormous importance” for the body but that there were still significant challenges ahead.

“In a way, it won’t be the WTO that saves the fish, it’ll be the fish that save the WTO,” Shea told an event hosted by the Asia Society think tank in Washington. Despite the challenges, Shea said he hoped a fishing subsidies deal could be struck in time for a WTO meeting in Kazakhstan in June.

Reaching a deal would contribute to the sustainability of the world’s oceans and meet targets set by world leaders, while providing new momentum for the WTO, he said.

“As the only active multilateral negotiation at the WTO, it will also be a test whether the institution is still capable of achieving meaningful multilateral outcomes,” Shea said.

Experts said global fish stocks could collapse unless a deal is reached soon to ban harmful fisheries subsidies worth over $30 billion annually. More than 90% of fish stocks are overfished or at maximum sustainable levels, according to the UN Food and Agriculture Organization.

Negotiators are battling over claims for carve-outs by some big players such as South Korea, the European Union and China, which is under fire from Washington for claiming exemptions intended for developing nations.

WTO Director General Roberto Azevedo said this week he agreed with US officials about the need for structural changes at the WTO to reflect global economic developments, including the rise of China and emergence of the digital economy.

To make its point, Washington has been blocking appointments to the WTO’s appeals body for two years, leaving it with too few members to make rulings.

The WTO initially hoped to reach an agreement on the issue by the end of 2019.

Shea said some countries remained more focused on protecting their fisheries subsidies than reducing or eliminating them. Many others did not submit required notifications on subsidies.

He said the United States and other partners had submitted five proposals to achieve meaningful reductions in harmful subsidies. — Reuters

Bucks finish season sweep over Magic in rout

ORLANDO — Brook Lopez highlighted a 23-point performance with five 3-pointers as the visiting Milwaukee Bucks completed a four-game season sweep of the Orlando Magic with a 111-95 victory on Saturday.

Giannis Antetokounmpo collected 18 points, 18 rebounds and nine assists for the Bucks, who have won 13 of their last 14 games overall and seven of their last eight versus Orlando.

While impressive numbers to be certain, a slow start and a primarily non-competitive contest led to the reigning NBA MVP seeing his five-game streak of at least 30 points, 16 rebounds and six assists come to a halt.

Khris Middleton recorded 21 points and 13 rebounds and Eric Bledsoe (18) and Wesley Matthews (12) also scored in double digits for Milwaukee.

Nikola Vucevic collected 21 points and 14 rebounds for his team-leading 26th double-double for the Magic, who have lost three in a row and eight of their last nine games.

Antetokounmpo’s dunk, Matthews’ corner 3-pointer and Lopez’s driving layup and short jumper started the Bucks on a 9-0 run to begin the third quarter to push their lead to 71-46. Orlando, however, made a spirited comeback entering the fourth before being held at bay the rest of the way.

The Bucks cleaned up some sloppy play and Kyle Korver and Lopez each made a pair of 3-pointers to create a double-digit advantage for their team in the second quarter. Middleton connected on a long, touchdown pass to Bledsoe for a reverse layup, highlighting an 11-3 run to end the quarter and give Milwaukee a 62-46 advantage at intermission.

Matthews drained a trio of 3-pointers to lift Milwaukee to a 15-10 lead before finishing the quarter with a 29-24 advantage without the benefit of a field goal from Antetokounmpo. Vucevic kept the Magic competitive with nine points and six rebounds.

While Milwaukee stood pat at the NBA trade deadline, it reportedly is set to bolster its roster as soon as Monday. Multiple outlets reported that the team is prepared to sign veteran forward Marvin Williams, who was waived by the Charlotte Hornets on Saturday.

WOLVES THUMP CLIPPERS
The new-look Minnesota Timberwolves were a puzzle too difficult to solve Saturday, getting 24 points from Jordan McLaughlin and 23 from Malik Beasley to earn a resounding 142-115 victory over the Los Angeles Clippers and end a 13-game losing streak.

Three players were making their debut for a Timberwolves team that was busy in advance of Thursday’s NBA trade deadline. One player who did not suit up was D’Angelo Russell, who was one of the biggest acquisitions on the final trading day.

Russell was nursing a right quad contusion but did take the microphone to speak to the crowd before the game to promise better things ahead. — Reuters

Strawweight Lito ‘Thunder Kid’ Adiwang earning his keep at ONE Championship

By Michael Angelo S. Murillo
Senior Reporter

JUST months into his ONE Championship career, Filipino strawweight fighter Lito “Thunder Kid” Adiwang is earning his keep. And how!

Started his ONE journey with the promotion’s reality show, “ONE Warriors Series” in 2018, Mr. Adiwang of Team Lakay has made an impressive ascent after securing a contract to be part of ONE’s main draw in the middle of last year.

“[Earning the ONE Championship contract] was the greatest feeling of my life, and I was super excited to show the world what I could do,” said Mr. Adiwang of how things are taking form for him.

And the young fighter has been making a strong impression not only in his division but the entire ONE-dom.

Mr. Adiwang has been unbeaten in two fights to date with the “big boys” at ONE, with his best still ahead of him.

He first saw action in the main draw in October at the historic ONE: Century event in Tokyo, Japan, against highly-touted veteran Senzo Ikeda.

There he was expected to face his first real test against the Japanese warrior, something he passed with flying colors.

Mr. Adiwang wrecked Ikeda, swarming him within the first few moments of the contest with his usual blistering pace. When action hit the mat, Mr. Adiwang brandished his unheralded ground game. He took Mr. Ikeda into a scarf hold and trapped his arm. Within moments, the Filipino stalwart had already latched onto a deep and secure armlock.

From there it was all over as Mr. Adiwang moments later was proclaimed the winner by technical knockout with Mr. Ikeda suffering from a hyperextended elbow joint and could not proceed.

The Filipino then followed it up with another convincing win here in Manila on Jan. 31, beating highly regarded Pongsiri Mitsatit of Thailand.

Playing in front of the hometown fans for the first time under ONE, Mr. Adiwang (11-2) promised to bring the heat and delivered accordingly.

He pounced on Mr. Mitsatit early, overwhelming his counterpart with wild hooks and sharp uppercuts from all directions. The Thai could do little aside from try to defend himself.

Mr. Mitsatit tried to extend the fight by backpedalling but the hometown bet was just unrelenting in his attack, eventually taking down his opponent to the mat.

From there, Mr. Adiwang shifted into grappling mode and again looked for his favorite scarf hold position. He maneuvered Mitsatit’s arm into a kimura from which the latter just could not escape from. After which the fight was waved off in Mr. Adiwang’s favor.

With the two quality finishes, Mr. Adiwang said they are representative of who he is as a fighter.

“I always go for the finish. That’s one thing fans can count on from me. I have an intelligent game plan, but my goal is to always end the fight early,” said the confident fighter.

And he cautioned that he is just beginning on his journey, and has his sights on bigger things moving forward.

“I’ll fight whoever they put in front of me. I’m ready for the big fights,” said Mr. Adiwang.

Asked who among ONE he would like to fight next, the Filipino said it is former strawweight champion Yoshitaka Naito of Japan.

“Now that would be a great challenge,” Mr. Adiwang said of Mr. Naito.

Razon entry drives Manila Water trade volume

NEWS of tycoon Enrique K. Razon, Jr. buying into Manila Water Co., Inc. made the listed water concessionaire the third-most actively traded issue last week.

A total of 173.45 million shares of Manila Water worth P2.37 billion exchanged hands on the trading floor from Feb. 3 to 7, data from the Philippine Stock Exchange showed.

Manila Water shares closed at P13.28 apiece on Friday, up 9.2% from P12.16 a week ago. Year to date, however, the stock’s share price has recovered by 36.9%.

“Several developments impact Manila Water during the week. First was the disclosure that [Razon-owned] Prime Metroline Holdings, Inc. signed a subscription agreement for the acquisition of 820 million common shares of Manila Water at P13 per share, which represents a 25% stake,” Mandarin Securities Corp. research analyst Zoren Philip A. Musngi said in an e-mail.

“Second, was the grant by [the Ayala group] of a 51% voting interest to Mr. Razon. Last was [last Friday’s] announcement of Prime Metroline’s intention to make a mandatory tender offer for Manila Water shares, where they’re looking to increase their stake, aside from the recent 25% buy-in,” he added.

In a separate e-mail, Timson Securities, Inc. Head of Online Trading and Trader Darren Blaine T. Pangan attributed the week-on-week increase to “positive investor sentiment” following Mr. Razon’s entry into the company.

“Foreigners have also been net buying on the stock throughout the week except on Friday as some investors chose to take profits,” Mr. Pangan added.

In its disclosure to the stock exchange on Monday, Manila Water said it had agreed to sell 820 million common shares, or a 25% stake, at P13 each to Mr. Razon’s infrastructure firm Prime Metroline, raising P10.7 billion in additional equity capital that Manila Water would use to “pursue its long-term strategic initiatives.”

Ayala Corp. said in a disclosure on Thursday that its executive committee approved giving Mr. Razon a 51% voting interest in Manila Water. This is through the granting of proxy rights by its wholly owned subsidiary Philwater Holdings Co. to Mr. Razon’s Prime Metroline — until he incorporates Trident Water, which will be the vehicle for the transaction.

Ayala Corp.’s Philwater currently owns four billion of preferred shares in Manila Water, representing 65.95% of voting shares in the company, the disclosure said. It added that upon the grant of proxy rights to Trident Water, Ayala Corp.’s effective voting interest in Manila Water will be reduced to 31.6% but would remain the biggest shareholder at 38.6%.

Moreover, a newspaper bulletin by Prime Metroline on Friday — which was disclosed to the stock exchange by Manila Water — said it is going to conduct the tender offer of Manila Water shares held by the public as part of its subscription to 820 million common shares in the water firm. As disclosed when the listed water firm announced the entry of Prime Metroline earlier last week, the shares will be offered at P13 each.

Manila Water, along with the other Manila water concessionaire Maynilad Water Services, Inc., is waiting on the government for a new concession term after President Rodrigo R. Duterte declared that there were onerous provisions in their previous contracts. These contracts were originally set to last until 2037, but Mr. Duterte threatened to cut this short.

Manila Water shares jumped to as high as P14.60 each on Monday before closing at P12.76. On Friday, however, the stock went down 11.2% to P13.28 per share from Thursday’s P14.96.

The company posted an attributable net income of P4.41 billion as of end-September, 10.6% lower than its bottom line of P4.93 billion in 2018’s comparable nine months.

Timson Securities’ Mr. Pangan said the company’s net income trajectory remains unclear “given the new contracts have not yet been released, and also because the strategic direction of the company under the new leaders have not yet been confirmed.”

“[The] nearest resistance to break may be set at its recent high of P15, while support level at P12.8 may have to hold. If not, P12 would be the next support level to watch,” Mr. Pangan said.

Meanwhile, Mandarin Securities’ Mr. Musgni placed the stock’s immediate support at P13 and resistance at P14 “given recent developments.”

“We expect Manila Water shares to trade in this range as more details regarding the supposed tender offer are released,” he said. — ECAJ

Escape to South Island

Text by Angel Rivero
Photos by Jakob Kurc

WHERE’S the farthest South you’ve ever been?

My answer to this question is New Zealand’s South Island — officially named “Te Waipounamu” — home to some of the most pristine natural wonders left on the planet. Picturesque mountains, aptly called The Remarkables, greeted us as soon as we disembarked from the plane. Immaculate lakes, primeval-looking forests, and mighty glaciers abound. It is totally easy to figure out why this island was chosen as one of the major shooting sites for one of the best fantasy-novels-ever-written-turned-full-feature-films: the Lord of the Rings trilogy.

Our port of entry to the South Island was none other than the picture-perfect, adventure capital of world, Queenstown. The resort town fares especially high in many an adventurer’s bucket list, and that is because it is the birthplace of bungee jumping, is an amazing place to go skydiving, is the place where speedboats are specially engineered so that they could still speed through insanely shallow water, and is home to the highest cliff-jump swing in the world! I could go on and on, but you get the idea. Queenstown is a place of doing. And while you’re at it, you get to enjoy the amenities of an impressively well-equipped town that is gloriously uncrowded.

It’s almost too good to be true.

And you might already know, New Zealand’s South Island is a paradise for driving (in fact, it’s a necessity here if you plan to visit any of the breathtaking national parks). My choice of wheels for this holiday of adventure was the handsome, Ford Escape AWD Titanium 2.0-liter turbodiesel in Ruby Red. Its size was in a sweet spot for my taste — comfortable and commodious, but not gas-guzzling large. I was really happy that it didn’t carry a sharp-angled rear because it offered better storage space this way, without inhibiting rear visibility. My elevated sitting position also lent me an excellent command of the road — with the settings customizable via a 10-way, power adjustable driver’s seat.

The vehicle came with satellite navigation (extremely helpful when driving through the wilderness), an eight-inch display screen, and was equipped with Ford’s Sync3 hands-free media system that is compatible with Apple CarPlay and Android Auto. We also had the luxury of a premium Sony audio system with nine speakers. Best of all, the beautiful drives were ever more immersive, thanks to the Escape’s panoramic sunroof that constantly bathed us in sunlight and sky.

One thing important for visitors to understand about New Zealand, is that there is an earnest and sophisticated hiking culture there. The locals would rather refer to it as “tramping” — and boy, do they set the bar far and high! It is no surprise then that the country is consistently listed as among the best places to visit for hikes of a lifetime. In case you haven’t heard, there is such a thing as the “Nine Great Walks of New Zealand” — lasting anywhere from hour-long hikes to multi-day treks – and most of them are found within the national parks of South Island.

Every trek seduces the frisky hiker with incredible vistas en route, and most certainly at the very end, which often opens up to a breathtaking viewpoint unlike anywhere else. Having said that, getting to these remarkable trails requires driving to the trailhead in the heart of nature. And from my experience, driving the Ford Escape — and in tricky right-hand drive, mind you — never delivered a twinge of doubt, despite having to venture into some rough roads, bumpy surfaces, and an array of ever-changing terrain. There were no squeaks or rattles, and never did I ever feel a shortage in power.

When evening came, the Escape did not fail to please with its delightful driving aids, which includes adaptive lights go into automatic high beam when necessary, and some really cool automatic leveling of its active, bi-xenon headlights. Other generous safety features included are adaptive cruise control, lane-keeping aids, forward collision alert, and autonomous emergency braking. The vehicle is also equipped with intelligent AWD that adjusts the torque delivery to each wheel every 16 milliseconds.

To date, Ford has remained one of New Zealand’s most dominant vehicle brands — and for good reason! In my experience alone, it was a reliable and, very importantly, comfortable vessel that took me right into the middle of the South Island’s beautiful nature, which included the raw grandeur of Fjordland National Park — home to the storied allure of world-famous Milford Sound.

So, no matter its remoteness — a country ever the victim of being forgotten from the world map (yes, it’s true!) — a visit to New Zealand should definitely be up there in one’s bucket list. There are so many rich experiences to take home from this distant land. And as a Maori proverb goes: “Mai i te kopae ki te urupa, tatou ako tonu ai,” which translates to: “From the cradle to the grave, we are forever learning.” So, rattle ya dags… and let’s head to the wop-wops!

Peso to climb further on US, local data

THE PESO is likely to rise this week with the market anticipating better trade deficit data and with the market factoring in the positive US jobs report released late last week.

The local unit closed at P50.755 per dollar on Friday, strengthening by 2.50 centavos compared to its P50.78 finish on Thursday, according to data from the website of the Bankers’ Association of the Philippines.

Week on week, the peso also appreciated by 7.50 centavos from the P50.83-to-a-dollar close on Jan. 31.

Analysts said BSP Governor Benjamin E. Diokno’s hints on another rate cut as well as fresh signals from Beijing and Washington on their commitment to their phase one deal likely boosted the peso.

Mr. Diokno told Bloomberg TV in an interview on Friday that another rate cut may be possible by the middle of the year.

“Peso exchange rate closed stronger after BSP Governor [Benjamin E. Diokno] signalled another rate cut possible by mid-2020, after yesterday’s cut in local policy rates, improving sentiment on the local financial markets,” Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said in a text message.

For his part, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said the peso’s strength came on the back of recent developments in the US-China trade deal.

“Market perception has slightly improved and more confident because of the reaffirmation to the commitment by both the US and China to their phase 1 deal,” Mr. Asuncion said in a text message.

For this week, analysts said among the factors that may affect exchange rates are some key economic data and the latest developments on the coronavirus outbreak.

“This [peso’s] strength is expected [to continue] next week with anticipated better trade data from last year,” Mr. Asuncion said.

“Major market leads that could have an impact on the peso include the latest US jobs data, Philippine trade deficit data, as well as latest developments on coronavirus,” RCBC’s Mr. Ricafort said.

The Philippine Statistics Authority will release the December trade deficit data on Feb. 11.

Both Mr. Ricafort and UnionBank’s Mr. Asuncion gave a forecast range of P50.60-P50.90 per dollar for this week. — L.W.T. Noble with Reuters

Greg Slaughter surprises with ‘taking a break’ announcement

By Michael Angelo S. Murillo
Senior Reporter

BARANGAY Ginebra San Miguel Kings big man Greg Slaughter surprised the Philippine Basketball Association with his decision at the weekend to “take a break” from playing after six years of parading his wares in the league.

In a post on his Instagram account, the 2013 top overall pick said with his contract having expired at the end of the season just passed, he would grab the opportunity to take a break and work on aspects of himself.

“With that, now that my contract has expired, I’ve decided to take a break to be able to work on myself in all aspects,” wrote Mr. Slaughter, 31, on Instagram on Saturday night.

“I may not know what the future holds, but one thing is for sure, the best is yet to come!” he added.

In six years with the Kings, Mr. Slaughter was a four-time champion, the most recent of which was the 2019 Governors’ Cup title won last month.

He was also a best player of the conference awardee in 2017 in the Governors’ Cup.

Mr. Slaughter viewed his Barangay Ginebra journey as an eventful one, thanking San Miguel Corp. and its boss, Ramon S. Ang, and the management on his IG post.

He also nodded on Coach Tim Cone and the rest of the Kings coaching staff and his teammates.

Mr. Slaughter thanked as well the Barangay Ginebra fans, who he considers as the best there is.

“To the best fans in the world — I can’t thank you enough for all the support you have shown me throughout the years. I will forever be grateful! #NSD,” he wrote.

While surprised by his move, many in the PBA expressed support to seven-foot “Gregzilla” and his decision and wished him luck on social media, including his teammates in Barangay Ginebra.

Among them were veteran Mark Caguioa, who is all set to ride into the sunset after the about-to-begin PBA Season 45; Japeth Aguilar and Aljun Mariano.

Also sending message of support were Doug Kramer, JC Intal, Allex Mallari and Juami Tiongson, among others.

Mr. Slaughter’s decision to take a break came amid talks that the Kings were planning to ship him out to another team, in particular for Northport big man Christian Standhardinger.

Mr. Cone and other Kings officials reportedly will try to talk to Mr. Slaughter about his decision and maybe for him to reconsider.

Nike football kits for the Tokyo 2020 Games unveiled

WHILE the 2020 Olympic Games in Tokyo, Japan are still a good five months away, global sports and lifestyle brand Nike has started unveiling gear and apparel that will be showcased at the quadrennial sporting spectacle, the most recent of which are its football kits.

Touted to mesh art and science, the kits, both uniforms and the shoes, were done in extensive collaboration with the federations that will be using the brand. Nike undertook deep cultural immersions and collaborated with each federation, taking a cue from what it did for the 2018 Nigeria Collection used in the FIFA World Cup which was well received since what the country is all about resonated in the designs.

For the 2020 Olympic collection, each team’s look will be celebrated with everything from hand-drawn prints to custom fonts. To further enhance distinction, Nike designers had 65 chassis options available to them across varying necklines, sleeves, cuffs, and badge placement, among others.

To complement their distinct appearance, the kits were infused with much innovation to bring out high performance from those who would wear them.

To achieve this, Nike first captured data on more than 300 footballers and football-specific movements.

The design team leveraged 4D visualization tools to bring the product to life before creating samples. This process helped Nike analyze how the kits would perform on the body with regard to stretching, draping, and fit.

Using generative design, Nike then knitted kits that are 55% faster wicking, 13% more breathable, and with 10% more stretch than Nike’s previous kits.

The precision knitting is reinforced where needed and vented in areas prone to heat.

The results of all these reveal a highly intricate knitting structure.

First to be unveiled were the kits for teams USA, Korea, and Nigeria.

The word “States” is very prominent in the kits of the US team — including the back of the away jersey and the back of the socks.

The home kit is white, elevated by details, while the away kit is a deep obsidian with pops of brighter blue and red accents.

US Soccer’s full collection is loaded with nods to the country’s love of multiple sports.

The Korea kit received a major redesign emblematic of the country’s vibrant culture and Hallyu pop culture.

The Korean Wave is represented on the home kit with a wavy pattern comprised of the trigrams from the national flag, while the away kit makes a bold statement on and off the pitch with a striking white tiger print on the jersey.

Complemented by a metallic gold Swoosh and crest applications, the kit is intended to feel a bit luxurious.

In 2018, Naija changed the game with a collection that set a new standard for how Nike approaches federation design.

For the 2020 Olympics, Nigeria picks up right where it left off with a home kit that fuses the traditional aesthetic of an agbada robe with modern football design

The away kit is inspired by Onaism, a traditional artistic movement central to Nigerian design and craft represented in the trim details.

NIKE AIR ZOOM MERCURIAL
Also unveiled last week was the concept football boot, the Nike Air Zoom Mercurial.

The boot is built around a full-length articulated Zoom Air bag that provides a unique underfoot sensation and enhanced energy return.

It has an internal boot chassis transitioned to the plate, leaving only the sockliner between the foot and the Zoom Air bag for maximum effect.

The boot features an upper made of Nike Flyprint, the brand’s first 3D-printed textile upper in performance footwear. It makes it lighter and more breathable than Nike’s previously employed textiles, while still coated with All Conditions Control (ACC) to battle the elements.

“The Air Zoom Mercurial is a glimpse into the future and where we could take things. With innovations like Air and Flyprint at our disposal, as well as those things still under development, there’s no limit to what football boots can become,” said Jeongwoo Lee, Senior Design Director at Nike Football, in a release. — MASM

Agriculture companies to cooperate in Canadian antitrust probe

MAJOR AGRICULTURE COMPANIES said on Thursday they would cooperate with a Canadian Competition Bureau antitrust probe sparked by allegations that certain businesses tried to block an online farm-supply start-up from operating in Western Canada.

The Canadian regulator confirmed earlier Thursday an inquiry was underway, but did not cite the companies being investigated.

Court documents filed on Jan. 30 in Canadian federal court show Bayer AG, Corteva Inc. and BASF were among those under scrutiny following a complaint from California-based online retailer Farmers Business Network Inc (FBN).

Farm-supply wholesalers, including Cargill Inc and Univar Solutions Inc are also being probed, the documents show, confirming an earlier Wall Street Journal report.

The Competition Bureau told the federal court it was seeking records and communications from the seed, pesticide and wholesaling companies which are alleged to have stopped supplying FBN’s newly acquired Canadian business in 2018. The bureau also said it appeared some company officials might have urged farmers and others in the industry not to do business with FBN.

Founded in 2014, FBN is developing an online marketplace for farmers to order crop inputs like pesticides, seed and other agricultural supplies. The company, which has been selling crop inputs through its e-commerce platform in the United States since 2016, entered Canada in November 2017.

The regulator told the court it believed the alleged conduct by the agriculture companies under inquiry prevents FBN from selling branded crop inputs.

“The foregoing may impede or delay FBN’s successful expansion into the Canadian market place and/or may cause FBN to exit the Canadian market place altogether,” the regulator wrote in its court filings.

BASF Canada, the Canadian affiliate of the German-based chemicals company BASF SE, said in a statement it believed the unit had not contravened Canadian competition legislation and was confident it could address any regulatory concerns.

US seeds and agricultural chemicals maker Corteva, Bayer and Cargill issued statements saying they would cooperate with the investigation. — Reuters

Missed calls

The play was set, and Damian Lillard executed it to perfection. Coming off a timeout, Blazers head coach Terry Stotts set up a high screen for him to exploit any way he chose, and he chose right. With Caleb Swanigan in the way, the Jazz’s Joe Ingles — not fleet of foot to begin with — was toast. It was Dame Time, and he showed it with a quick drive to the hoop that even the 18,306 fans at the Vivint Smart Home Arena figured to be a sure bucket. It didn’t matter that Rudy Gobert got a hand on his layin and prevented it from going through the hoop. It hit glass first, rendering the block illegal and netting him two points to tie the game.

There was just one problem, however: Not a single one of the officials saw the violation. Gobert’s rejection was thus deemed legitimate and, because it drew no whistle, not subject to review. The Blazers were, needless to say, livid. They felt they were robbed of a tie, and, in light of Lillard’s match-long heroics, their sixth win in seven outings. Instead, the Jazz would go on to claim victory, snapping a five-contest losing skein. And so incensed were they that they continued to rant long after the final buzzer. The threat of fines notwithstanding, they were vocal in their protestations. Lillard, Stotts, and CJ McCollum minced no words taking the referees to task.

To be fair, the men in gray did own up to the mistake. Crew chief Josh Tiven admitted that “we missed the play” after going through the standard post mortem. The National Basketball Association’s Last Two Minute Report was likewise clear, deeming it an “Incorrect Non-Call.” Significantly, it likewise underscored the limitations of the current review process. “Goaltending is only a reviewable matter when it is whistled on the floor by officials,” it noted. Argued Lillard, “three referees out there, and they don’t call that. I don’t wanna see no report about, ‘Oh, we should’ve called it’ or none of that. They cost us the game. We in a playoff race, and they cost us the game on an easy call.”

Significantly, the evident goaltend, even on real time, wasn’t the only thing that escaped the arbiters’ eyes. For some reason, the game clock stopped at 1:43 after Royce O’Neal made a trey to push the Jazz’s advantage to five. Not a single tick in the ensuing 12 seconds the Blazers used up to get Swanigan a 12-foot jumper was then officially reflected. Today, league records will show a difference of a single second between the two scores. And, tellingly, there is no mention of it in the Last Two Minute Report.

If there’s anything the Blazers-Jazz tiff proved, it’s that the league’s Replay Center in Secaucus, New Jersey should be given greater leeway. The system was set up to uphold the integrity of proceedings, not place them under even bigger clouds of doubt. It can’t be the cause of letting a wrong stand, or — as in the case of the Christmas Day contest between the Lakers and Clippers — turning a right into a wrong. And unless and until the Competition Committee finds the proper fixes, Lillard and Company won’t be the last to complain with reason.

 

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.

ERC defers new secondary cap on power price spikes

THE Energy Regulatory Commission (ERC) is in no rush to set a new secondary price cap that limits the spike in energy prices at the wholesale electricity spot market (WESM), saying more pressing matters needed faster resolution.

“In the order of things, ang dami kasing pumasok na very urgent (several very urgent matters came in),” ERC Chairperson and Chief Executive Officer Agnes VST Devandera told reporters last week.

“Anyway, there’s one in place,” she added.

The ERC’s stance comes months after it asked market participants to submit until Nov. 4, 2019 their written comments on a draft resolution proposing to lower the secondary price cap to P4,502 per megawatt-hour (MWh) from P6,245/MWh to reflect current market conditions.

In a draft resolution, the secondary price cap will be imposed once the threshold 72-hour rolling generator weighted average price, or GWAP, is breached.

Ms. Devandera said the ERC could not say whether the draft would be issued in its final form in the first quarter or the first half of the year.

“[There’s] one in place for summer. For April or May meron pa naman ‘yung old cap (the old secondary cap is still there,” she said.

The decision comes despite expectations that power supply will be tight during the summer months. A deficiency prompts electricity distribution utilities to source additional supply from the spot market at prices higher than those pre-agreed in power supply deals. The higher prices form part of the charges tucked into consumers’ monthly power bill.

In its draft resolution, the ERC said the country continues to have tight power supply, which is worsened by plant outages, thus leaving consumers vulnerable to high WESM prices.

It said recent developments in the electricity market “impelled the ERC” to review existing threshold levels of the secondary price cap schemes and recalculate the same based on market data using the period 2016-2018.

The commission recalculated the cumulative price threshold level to P6,919/MWh equivalent to the generator weighted average price over a rolling three-day period or 72-hour trading interval in the WESM. The previous threshold was P8,186/MWh.

The ERC first imposed the secondary price cap through a resolution issued on May 5, 2014 as an urgent and interim mitigating measure in the WESM to counter spikes in the market prices of electricity.

On June 16, 2014 and Aug. 5, 2014, the regulator extended the effectivity of the pre-emptive measure for a specified period or until the creation of a permanent one, whichever comes earlier.

On Dec. 15, 2014, it made the measure permanent, thus putting a limit to the impact of extreme price volatilities and excessive levels of prices in the WESM. — Victor V. Saulon

Valentine’s Day (02/10/20)

Salvatore Ferragamo

TWO OF the fashion house’s icons, Fiocco Vara and Gancini, have come together in the Salvatore Ferragamo range of accessories, jewelry and leather goods dedicated to Valentine’s Day. Shades of red, pink, and eternally elegant black color a mini-capsule with contemporary appeal and a romantic feel. For women, the Vara Rainbow mini bag with front flap is available in red and pink. Shades of coral red, black, or bone, for the sandal, in a chunky heel version, featuring the new Vara bow whose color and leather matches the upper. Colorful silk ribbons embellished with a small gold-plated jewel, to be worn as a bracelet or choker. New minimalist earrings and necklaces with pendants with the Gancini symbol embellished with charms in the shape of a heart, a star (also available in a diamanté version), and a pearl. Leather is used instead for the slim bangle, whose enameled metal buckle replicates the Vara bow. For men, accessories continue the red and black theme: a calfskin leather wallet has a sophisticated three-dimensional texture and bears the iconic Gancini logo. The same theme is used again for the casual belts with double Gancini buckle. Eyewear completes the range, with a material combination of leather and metal. In the Philippines, Salvatore Ferragamo is available at Greenbelt 4, Rustan’s Shangri-La, Rustan’s Makati and Solaire Resort & Casino.

Tod’s

TOD’S PRESENTS it’s limited eition collection for Valentine’s Day: two bracelets in gold with charms dedicated to love and a little pouch bag with a sparkling T accessory. Tod’s is located at Greenbelt 4, Rustan’s Shangri-La, and Shangri-La Plaza.

Rustan’s

RUSTAN’S Department Store makes a number of suggestions for the perfect Valentine’s Day gift, an is offering several promotions in this season of love. Gentlemen can show their appreciation with something sparkling from the Silver Vault — precious stones from Roberto Coin, golden keepsakes from John Hardy, fancy earrings from Tamara Comolli, and diamond rings from Cento. In the same section, one will find leather accessories, pens, and watches from Montblanc, which make thoughtful presents for men. On Feb. 8 at Rustan’s Makati, from 4 to 8 p.m., Montblanc shoppers will receive a complimentary tote bag and personalized calligraphy service for a minimum single-receipt purchase worth P15,000. Customers cal also preview the latest timepieces from Piaget that day from 3 to 7 p.m. at Rustan’s Shangri-La. Rustan’s is offering special promotions this month. Those who shop for Valentine’s Day jewelry at Rustan’s Silver Vault in Makati and Shangri-La and spend a minimum of P100,000, can enjoy a three-course lunch for two at French restaurant Mireio at Raffles Makati until Feb. 16. At Rustan’s Cebu, recieve a P2,000 gift certificate from Pig & Palm for a minimum single-receipt purchase worth P100,000 at Silver Vault. All Rustan’s customers take home a box of Royce’ Pure Chocolate for a minimum single-receipt purchase worth P12,000 from Feb. 1 to 14. Each Rustan’s department store will set the mood for love with live musical entertainment on Feb. 8 and 9. Acts such as Saxybeast MNL, Jeremy Alex guitar duo, an instrumental quartet, and pianists will serenade shoppers. Diptyque customers get a complimentary 10 ml-bottle fragrance for every purchase of its newest fragrance, Eau Capitale. Meanwhile, home brands such as Robert Welch, Schott Zwiesel, and Amefa are offering 40% off on selected items. All Conair items are 20% off, while select items from Cuisinart are discounted up to 30%. Get 15% off on select mattresses, pillows and bed accessories from Senso. One can also take home a Swarovski water bottle for a minimum single-receipt purchase worth P18,000 of regular-priced items from Swarovski.

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