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Asian markets decline as new year surge fades

HONG KONG: Asian markets saw further losses on Thursday, with Tokyo hit by a weaker dollar, as the rally that greeted 2018 gives way to profit-taking though Hong Kong extended a record winning streak to 13 days. Bitcoin tumbled after South Korea said it was planning to close down cryptocurrency exchanges in the country citing [...] The post Asian markets decline as new year surge fades appeared first on The Manila Times Online......»»

Category: newsSource: manilatimes manilatimesJan 12th, 2018

Asian stocks decline; dollar retreats as yen gains

Asian stocks drifted and the dollar retreated from a four-month high as investors digested the latest earnings reports and many markets reopened after holidays. US equity futures edged lower after a report the possibility of a subpoena has been raised for President Donald Trump in an ongoing special-counsel investigation. Ten-year Treasury yields pushed higher, though […] The post Asian stocks decline; dollar retreats as yen gains appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 2nd, 2018

Mitsubishi plans SE Asia exports next year

Mitsubishi Motors Philippines Corp. (MMPC) plans to start exporting vehicles to Southeast Asian markets next year......»»

Category: financeSource:  philstarRelated NewsDec 13th, 2018

Emerging markets face a brighter outlook after 2018

SINGAPORE -- After starting the year on a high note, emerging-nation equities are poised for their fifth annual decline of the past decade......»»

Category: newsSource:  bworldonlineRelated NewsDec 7th, 2018

PH, Asian stock markets decline

PH, Asian stock markets decline.....»»

Category: financeSource:  thestandardRelated NewsDec 6th, 2018

Auto slump worst since ’98

The local vehicle industry is heading to its worst sales decline since the financial crisis of 1998 as manufacturers expect deliveries to fall by as much as 15 percent this year.   The industry was not expecting such dismal showing for 2018, according to Rommel Gutierrez, president of the Chamber of Automotive Manufacturers of the Philippines Inc.   He said the industry earlier expected sales to decline in the first semester due to the Tax Reform for Acceleration and Inclusion (TRAIN) Act, the tax package which made most cars more expensive by hiking excise taxes.   However, it did not anticipate the surge in inflation in recent months that hurt the consu...Keep on reading: Auto slump worst since ’98.....»»

Category: newsSource:  inquirerRelated NewsOct 25th, 2018

Bring on the pain: strategists say go defensive in Southeast Asian stocks

SINGAPORE — With a little less than a quarter left of a year that’s already witnessed a trade war between the world’s two largest economies, higher oil prices and a still ongoing emerging-markets rout, what’s an investor in Southeast Asia to do? The post Bring on the pain: strategists say go defensive in Southeast Asian stocks appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsOct 16th, 2018

Emerging value in Asia’s stocks not enough to win investors

HONG KONG — Asian stocks are trading at a two-year low versus the rest of the world, but most of the region’s emerging markets are still failing to attract investors. The post Emerging value in Asia’s stocks not enough to win investors appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsSep 12th, 2018

Asian markets sink as global trade concerns return

Asian markets started Monday on a negative note as trade tensions returned to the fore with Donald Trump eyeing fresh tariffs on a swathe of Chinese goods and NAFTA talks with Canada hitting a wall. The optimism that flowed through trading floors at the start of last week has been replaced by a now-familiar sense of dread after the US president hit out at Ottawa over the weekend as the two sides struggle to hammer out a new deal. In a tweet over the weekend, Trump threatened to exclude Canada from a new North American Free Trade Agreement after negotiations to rewrite the 25-year-old pact ended without an agreement Friday. He said there was "no political necessity to keep Canada...Keep on reading: Asian markets sink as global trade concerns return.....»»

Category: newsSource:  inquirerRelated NewsSep 3rd, 2018

Stocks down on inflation worries

The local stock market underperformed regional markets on Tuesday as investors braced for a more aggressive local monetary tightening following the surge in the July year-on-year inflation rate to a new five-year high of 5.7 percent. The main-share Philippine Stock Exchange index (PSEi) tumbled by 91.46 points or 1.17 percent to close at 7,725.85 ahead of the Bangko Sentral ng Pilipinas' monetary setting on Thursday. The 5.7-percent inflation rate in July, which rose from 5.2 percent in June, overshot the market consensus forecast of 5.6 percent. It was at the upper end of the Bangko Sentral ng Pilipinas' forecast range of 5.1-5.8 percent for the month. "With year-to-date CPI (c...Keep on reading: Stocks down on inflation worries.....»»

Category: newsSource:  inquirerRelated NewsAug 8th, 2018

SUPER 8: Inside the Asia League s grand basketball plans for the region

MACAU --- The Summer Super 8 is just the beginning. The Asia League may only have eight teams, including two Pinoy teams, in its tournaments now with the Super 8, but the FIBA-recognized offseason competition platform for club basketball is targeting bigger and better things. All for the continued development of basketball, particularly in this part of Asia. Matt Beyer, CEO of the Asia League, noticed a couple of years back that there's pretty much no international club-to-club basketball competitions in Asia so he made some things happen. While football has tournaments like the UEFA Champions League, basketball has no such thing. There's the FIBA Champions Cup, but that includes all of Asia. What the Asia League tries to focus on is the East Asia and Southeast Asian territory, where top teams from China, Korea, Japan, and the Philippines can go after each other in high-level tournaments. "I just think there's a huge lack in international club-to-club basketball competition in Asia," Beyer said. "And if you look at China, Japan, Korea, the Philippines, Chinese Taipei, if you add the population of these geographies, it's over 2 billion people. So there's a lot of fans but no high level club-to-club competition. That's the reason this was created," he added. For Beyer, Macau seems to be the perfect setting to stage such tournaments and for the Summer Super 8, he's looking at it as something that could become Asia's version of the NBA's Las Vegas Summer League. Asia League has eight teams competing for the Super 8 this year with two teams each from China, Korea, and the Philippines plus one each from Japan and Taipei. Next year, the Super 8 may no longer be as the plan is to have 16 teams see action. "What we're aiming for is to become the East Asian version of the Las Vegas summer league," Beyer said. "Our July events, we will expand the scale of the teams. The eight teams this year, I wanna have 16 next year and that means more PBA teams if that's logistically possible," he added. Speaking of the PBA, the Asia League is aggressive is trying to work with getting Filipino teams to its events. Why? Pinoy teams attract crowds and they generally perform well with these kind of tournaments. For the ongoing Super 8, both NLEX and Blackwater ended up with identical 2-1 records. The Road Warriors are in the semifinals and the Elite missed the playoffs by one basket and ended up with an inferior quotient. And despite group play being played on weekdays, a decent Filipino crowd have showed up to watch the action at the East Asian Games Dome. "We started the dialogue with the PBA and Commissioner Willie (Marcial)," Beyer said. "We're trying to coordinate being able to make things work with the schedule and have teams released for the tournaments or just fit into the windows where they're available. I think we can work it out long term and I think this is good for the PBA and to the teams to play against different types of teams for a technical perspective and it should help to get the news out about PBA teams in other markets," he added. Aside from the Super 8 this year, the Asia League also has the Terrific 12 coming up in September. More than the number of teams involved, that tournament should be fiercer with club teams being allowed to have imports. Beyer ideally wants to have the PBA participate in that as well but with the Governors' Cup ongoing at that time, it might be difficult at least for this year. Still, the Asia League wants Pinoy teams, but not just any Pinoy teams. That's why Alab Pilipinas has been in consideration to compete in September though it's yet to be seen if Jimmy Alapag's crew can join. Ultimately, Beyer's goal is to have the Asia League be a hub for teams across Asia to compete with one another in such a way that their own mother leagues aren't being disrupted. The Asia League wants its July event to be the premier offseason joust. "The ideal situation that I look at is the July event be the summer league and expand it to 32 teams in three years. And that becomes the premier offseason forum just like the Las Vegas summer league is in the West," Beyers said. "September, we can't expand it above 12, that might be a little too big but let's see how it goes. That's gonna be the biggest preseason party for teams. We're gonna have the best rosters, tons of media, and broadcast on over 30 platforms all over the world," he added. That seems grand enough for the Asia League but there's more. Soon enough, full integration is going to be Beyer's target. "What we want starting the 2019-2020 season is to have integration into the seasons. What I look at is a pilot project where we take teams that are on the region and put them into two small groups that play home and way through the season, maybe one game per month to start," Beyer said. "And then we do a Final Four event, probably here in Macau to start. And then maybe that Final Four event can be like Euroleague Final Four before it moves around the region at an annual basis. That would be what I like to see. That would require a deep partnership with FIBA and the associations like the PBA," he added. Ultimately, the Asia League would like to stay true its mission to raise the standard of basketball in the region through greater collaboration with different leagues. It helps that for the current Super 8, teams are in it to win it and are taking things seriously. There should be more to come. "This isn't a one off tournament. We want to have a series of events. FIBA's mandate is a little different than ours but I think the goal is the same, we want to develop basketball and make the level of competition better in the region," Beyers said.   --- Follow this writer on Twitter, @paullintag8.....»»

Category: sportsSource:  abscbnRelated NewsJul 21st, 2018

ETII pursues projects in Visayas

Ecosystem Technologies International Inc. (ETII), part of the Metro Pacific Water portfolio, is eyeing projects with local governments in the Visayas in preparation for an expansion drive into Southeast Asian and African markets.   ETII is joint-venture between Metro Pacific Investment Corp. (MPIC), with a 65 percent stake, and Ecosystem Technology Inc.   It is a pioneer in the Philippines in the recycling and reuse of wastewater, and holds 10 patents for related technologies.   Michael C. Rubio, ETII director for communications, said yesterday in a briefing the 20-year-old firm had completed at least 600 wastewater treatment projects across the country--...Keep on reading: ETII pursues projects in Visayas.....»»

Category: newsSource:  inquirerRelated NewsJul 13th, 2018

LeBron s free agency decision could swing NBA s balance of power

By Steve Aschburner, NBA.com CLEVELAND -- These combo coronation-funerals can be tricky. Imagine the crowning of a new monarch where the royal subjects couldn’t stop chattering about the freshly deposed or deceased predecessor. Where the traditional cry of continuity and succession, “The king is dead! Long live the king!” got flipped, with what was overshadowing what is. That’s pretty much how it went Friday night (Saturday, PHL time) at Quicken Loans Arena, with the Golden State Warriors’ latest NBA championship having to share the stage with speculation, instantly revved up, about LeBron James and the choice he’ll soon make about his next employer. The Warriors are the kings, claiming pro basketball’s throne yet again by completing a sweep of James’ Cleveland Cavaliers in the 2018 Finals. But of course, James is the King, and as so many of us learned in sophomore English – thanks, CliffsNotes! – “Uneasy lies the head (of those who fret and obsess about the future whereabouts of the NBA superstar) that wears a crown.” Long live the kings! The King is ... gone? There was so much energy before, during and after Game 4 Friday (Saturday, PHL time) poured into the last game/next game conjecture about James, the Cavaliers and seismic shifts in the league’s 2018-19 landscape that even the player’s surprise reveal near the end of the night – a bruised and bandaged right hand – couldn’t derail it. Turns out, as James ‘fessed up, the sore shooting paw was an injury he had been playing with ever since Game 1 in Oakland eight days earlier. He had “self-inflicted” it in a fit of pique when he smacked a whiteboard in the visitors’ dressing room at Oracle Arena after Cleveland’s overtime loss in the series-setter, an outcome driven at least in part by some teammates’ mistakes and an arcane wrinkle in the NBA’s replay rules regarding block/charge fouls. Despite the hordes of media people chronicling every waking detail of the Finals, James had kept the injury on the down-low (along with the possibility that J.R. Smith’s nickname amongst his Cavs teammates might be “whiteboard”). The cameras zoomed in and clicked in a paparazzi frenzy of motor drives every time James raised the hand, wrapped in black tape, above the table during his postgame podium remarks. Whether a legit Page-2-the-rest-of-the-story factor in the championship series or a too-late alibi, the contused hand wound up as a sidebar to where James plans to be using it when training camps open in a few months. As of Friday (Saturday, PHL time), it had been 95 months since “The Decision,” the 2010 announcement that James made in a tone-deaf vanity TV production that he was taking his talents from Cleveland to South Beach. Nearly 47 months had passed since he broke the news of his return in a Sports Illustrated ghost-written essay, envisioning much of what actually has unfolded in the four years since. Now savvy insiders and casual observers alike presume James will be on the move again, pushed to leave the franchise he has defined in an urgent search for more and better talent with which he can compete. As in, y’know, some horses, some horses, his kingdom for some horses. James’ free-agency process next month (he can opt out of a $35.6 million deal in the final season of his current contract) is expected to dictate the market of player movement this summer like an oversized domino. It easily could swing the balance of power, if not quite at Golden State’s lofty level then immediately below it. The monster he helped create Dr. Frankenstein eventually was done in by his macabre creation, and it can similarly be argued that James has no one but himself to blame for the predicament in which he again finds himself. He set in motion the machinery of the super team, after all, when he chose to join forces with Dwyane Wade and Chris Bosh in Miami eight years ago. Oh sure, the Boston Celtics in 2007-08 got there first by luring Kevin Garnett and Ray Allen to join Paul Pierce, but that was about knitting together three stars, all age 30 or older, for what would be their last best chance to win in an extremely limited run. That group won one title, went to two Finals in three seasons and was done, Allen leaving to join James & Co. with the Heat while Garnett and Pierce morphed into trade chips for Boston POBO Danny Ainge. When James, Wade and Bosh teamed up, they were in their basketball primes and their initial giddy boasts of “not four, not five, not six” championships turned off fans league-wide as much for its portent as its pretension. That crew went 4-for-4 in Finals, winning two rings before James, nudged by staleness and chafing as well as his grand plan for northeast Ohio, went home. From there, a line can be drawn through the ill-conceived 2012-13 L.A. Lakers of Kobe Bryant, Steve Nash, Dwight Howard and Pau Gasol all the way to this season’s Houston Rockets of James Harden and Chris Paul and the talent-gorged Golden State roster. James was the centerpiece as Cleveland replicated the Big Three concept around him with Kyrie Irving and Kevin Love, two younger, playoff-stymied All-Stars. The new-look Cavaliers went to the Finals in their first season together and clambered atop the basketball world to win the franchise’s first NBA title by the end of the second, becoming the first team in league history to do so after digging a 1-3 hole in the best-of-seven series. In that moment, regardless of the two Finals trips that followed, James’ bill was stamped: Paid In Full. Misguided fans might burn his jersey if he leaves again, but James burned the mortgage after that Game 7 in Oakland in 2016 as far as any remaining obligation to fulfill. “I came back because I felt like I had some unfinished business,” he said after elimination Friday (Saturday, PHL time). “To be able to be a part of a championship team two years ago with the team that we had and in the fashion that we had is something I will always remember. Honestly, I think we'll all remember that. It ended a drought for Cleveland of 50-plus years, so I think we'll all remember that in sports history.” James added: “When you have a goal and you're able to accomplish that goal, it actually – for me personally – made me even more hungry to continue to try to win championships. And I still want to be in championship mode. I think I've shown this year why I will still continue to be in championship mode.” In other words, James intends to sustain his high level of performance. He expects to win. And he presumably will do whatever – and go wherever – is necessary to achieve that. There’s no perfect fit So what does that mean for the NBA’s best player (never mind what the annual MVP balloting says in any given season)? It means this: compromise. There is no ideal situation, certainly no easy answer to the guesswork surrounding James’ looming free agency. He could transform any of the 30 teams, but not without some trade-offs for him, for them or for both. Most of them won’t be in play. Teams in markets such as Indianapolis, Milwaukee, Portland, Sacramento, the Twin Cities and so on can’t scratch James’ itches for either championship-worthy depth chart or spotlight. New York and Chicago, among the biggies, are out of synch with his timeline. Toronto? No way James is resettling his brand north of the border, and given his stated desire for teammates who have not just sufficient basketball skills but also mental toughness, well, the Raptors teams he and the Cavs have dominated do not qualify. The Boston club that stretched Cleveland to seven games in the Eastern Conference finals is built for the long haul and would have to surrender much of that to adjust to James’ career calendar. There’s a little Kyrie problem lurking there and, truth be told, the Celtics look to be on their way and are doing just fine without the 33-year-old heading, one of these years, toward decline. At some point in each of the 2018 Finals’ final three days, James spoke admiringly of the Warriors and the San Antonio Spurs title teams that blocked his path whether in Miami or Cleveland. He was at it again even as the Warriors were dousing the opponent’s locker room at The Q with Moet champagne. “I made the move in 2010 to be able to play with talented players, cerebral players that you could see things that happen before they happened on the floor,” James said. “When you feel like you're really good at your craft, I think it's always great to be able to be around other great minds as well and other great ballplayers. “That's never changed. Even when I came here in '14, I wanted to try to surround myself and surround this franchise with great minds and guys that actually think outside the box of the game and not just go out and play it.” Where might James find that now or recruit that swiftly? Hard to say. There are asterisks and “buts” everywhere: * If he were to sign with the Houston Rockets, James would be hitching his star to Chris Paul, a buddy with an injury history that’s about the mirror opposite of his own. He would be teaming up with an elite coach in Mike D’Antoni, something he’s never had (though Miami’s Erik Spoelstra was just young and unproven, on his way to big things). But it also would require another big ask of James Harden, who had to adapt last summer to Paul’s arrival and need for the ball. * If James chooses the Lakers, he has the chance to hit reset with the league’s glitziest franchise, in a market that can meet his every off-court wish and where he and his family already own one or more ultra-comfortable homes. The Lakers have young talent to help James transition into a lower-usage veteran’s role, favored status as a destination team for other top free agents and the salary-cap space to get it done this summer with the likes of Paul George or his pal Paul. But that roster might not be capable of insta-contending, which could burn a season or two when James’ clock most definitely is clicking. * If it’s San Antonio, James could link up with the elite coach in Gregg Popovich, where the winning culture is in the DNA rather than some acquired taste. The Spurs have talent, particularly if Kawhi Leonard finds happiness again there. But they might not have enough to rattle the Warriors’ cage. And for all their professed admiration, James and Popovich might both fare better by keeping their relationship long-distance vs. the 82-game grind. * If it’s Golden State? Perish the thought. The NBA might have to board up itself if competitive balance were capsized to that extent. And as Draymond Green shrewdly noted on Thursday (Friday, PHL time), if James climbed aboard, it likely would require him and several other Golden State teammates to be dispatched to parts unknown. * If James prefers to stay East, where the winning comes easier, he could pick Philadelphia. The Sixers have two foundational young stars at positions that matter most, center Joel Embiid and point guard Ben Simmons. But Simmons is a non-shooter at the moment, the antithesis of what makes a great complementary LeBron teammate. As for Embiid, James never has had to play off of and service a top center. And Philly might feel like a basketball-only move, with the hungriest and most demanding of any new fan base he would embrace. * If it’s Miami – wait, could it be Miami? Could he go second-home again? The Heat always strive to be competitive and offer a talent base deep enough for the East and lots of familiarity. But they also have players such as Hassan Whiteside and Dion Waiters whose mental approaches don’t seem to fit the model James was cooing about in Golden State and with the Tim Duncan-era Spurs. * That brings us to Cleveland, where it’s possible James might choose to remain. Staying with the Cavaliers, after leading them to four Finals and that heady 2016 title, would be the easiest choice as far as pressure to win. He owes these fans nothing anymore – in fact, had the bargain been offered to them in 2010 (“LeBron will leave and win elsewhere for four years, but will come back and deliver a championship and four Finals trips”), most would have grabbed it. Here, James and the fans who have watched him even through the interruption develop from ridiculously touted high schooler to one of the world’s most famous athletes could grow older together. Then he could partner up and buy the team from owner Dan Gilbert for a long-term future. Certainly, staying has a certain place in his and the rest of the James clan’s hearts. “The one thing that I've always done is considered, obviously, my family,” he said at series end Friday (Saturday, PHL time). “Understanding especially where my boys are at this point in their age. They were a lot younger the last time I made a decision like this four years ago. I've got a teenage boy, a pre-teen and a little girl that wasn't around as well. So sitting down and considering everything, my family is a huge part of whatever I'll decide to do in my career, and it will continue to be that.” It’s worth noting that as James contemplates his options as a modern pursuer of championship excellence, the prospect of him moving again qualifies at some level as a failure. Not just by the support system in Cleveland, where he and Gilbert have their friction and James gets snidely mentioned as the team’s unofficial GM and head coach, but by him too. He’s the one who went off to seek his “college education” in south Florida in what it takes to win, whether on the court, in the front office or in and around the seams 365 days a year, straight out of the Pat Riley handbook. The teams about which James talks so glowingly in Oakland now and in San Antonio then have cultures he covets, stability up and down the flowchart he craves. In Cleveland, for a variety of reasons, his team has been incapable of establishing and maintaining that to a lasting degree. He is part of that missed opportunity and he has to own it, no matter if he goes or stays. James is inseparable from the dynamic of the Cavaliers’ ever-changing and often melodramatic roster maneuvers. Spending big, swapping out draft picks to import current stars and supporting players, and overvaluing secondary guys like Smith and Tristan Thompson are risks the Warriors and the Spurs largely avoided thanks to shrew drafting and laudable continuity. The Cavs’ scrap heap, by contrast, is high with traded picks, scuttled plans, panic deals, short-term patches and folks such as former coach David Blatt and former GM David Griffin. And maybe James could have nurtured a little better relationship with All-Star point guard and 2016 title sidekick Kyrie Irving, enough to have kept Irving from bailing on them all with his trade demand last summer. Now he’s on the verge of casting about again, prioritizing what matters most for however long he continues to play. James is more at peace with it than he was before, particularly in 2010, and surely can enjoy the leverage he wields and the riches it delivers. But there is a burden there as well, one that could be seen as completing a circle. So many of the NBA’s greatest stars have been stuck playing and living in the Age of LeBron, right? Their paths to the Finals blocked, on one whole side of the league, by him and his? Well, LeBron James is stuck now in the Era of the Warriors, freshly swept and anxious to close the gap. What goes around comes around, though the key more pressing of the big W’s now is, where? Steve Aschburner has written about the NBA since 1980. You can e-mail him here, find his archive here and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting......»»

Category: sportsSource:  abscbnRelated NewsJun 11th, 2018

Most Asian markets rise after Wall St rally, ringgit bounces

Hong Kong, China — Most Asia markets rose Monday as investors built on last week’s rally, with another healthy lead from Wall Street providing support, but oil prices retreated from their three-and-a-half-year highs. Malaysia’s ringgit recovered from an early sell-off to sit flat while stocks were up more than one% in Kuala Lumpur as trading […] The post Most Asian markets rise after Wall St rally, ringgit bounces appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 14th, 2018

Asian, European stocks boosted by breakthrough Korea summit

NEW YORK (AFP) - Asian and European stock markets advanced Friday with global investor sentiment boosted by a historic meeting of the leaders of North and South Korea. However Wall Street treaded water as data showed that US economic growth slowed at the beginning of the year, although the annualized….....»»

Category: newsSource:  journalRelated NewsApr 28th, 2018

US leagues are on the verge of going international

By Paul Newberry, Associated Press An NFL team in London? Count on it. An NBA franchise in Mexico City? Yep, that's coming too. What was once a pipe dream — major-league teams based in cities outside the United States and Canada — is now just a matter of time. The aforementioned cities are the ones most likely to break through first, but others will surely follow when everyone sees how much potential revenue is there for the taking. "The market is saturated in the U.S.," said Gil Fried, a professor and chair of sports management at the University of New Haven. "They need to find new markets." The NFL has been trying for years to make inroads in Europe — especially London — and those efforts were turned up to full blast by revelations that Jacksonville Jaguars owner Shahid Khan is attempting to buy Wembley Stadium, a 90,000-seat, state-of-the-art venue known the world over. Khan brushed off the obvious speculation that this is the first step toward moving the Jaguars to London — where they already have been playing "home" games since 2013 — but didn't exactly provide a resounding vote of confidence for Jacksonville, one of the smallest markets in the NFL. "The first thing you want with certainty is you want a venue," he said. "And this gives us a stadium solution, for us or anyone else." In other words, better get used to calling his team the London Jaguars. "Shad Khan's purchase of Wembley Stadium portends that a substantive NFL presence in London, and ultimately a franchise, is inevitable," said Vince Benigni, a professor of sports communication at the College of Charleston. The NBA, which last expanded in 2004, is looking to get the jump on Mexico City, a sprawling metropolis of more than 20 million people that opened an NBA-ready arena in 2012. That facility hosted a pair of NBA regular-season games each of the last two seasons , drawing an average of more than 20,000 fans. "You can feel it, you can smell it, you can breathe it in the streets." said Gilberto Hernández, president of the Mexican Basketball Federation. "They're just craving basketball." Of course, there are a number of challenges that must be addressed before international expansion becomes a reality — especially so for Mexico City, which is 7,350 feet above sea level (more than 2,000 feet higher than Denver), is plagued by crime and economic-disparity issues, and might have trouble signing top players who are reluctant to step outside their cultural comfort zone. But the appeal is enormous. "It's the largest city in the Western Hemisphere," NBA Commissioner Adam Silver said. "It's part of a 130 million-person country. There's a very strong, passionate Mexican-American fan base in the United States. This is also a potential gateway for all of Latin America." The NHL first floated the prospect of a European division in the late 1960s. Detroit Red Wings owner Bruce Norris was so fixated on the idea that he launched his own team, the London Lions, who played a 72-game schedule against top European teams in 1973-74. Unfortunately, the Lions never had a league of their own, so the team quietly disbanded after that single season, leaving behind nothing more than a cool logo . Over the last two decades, the NHL has scheduled regular-season contests in Europe and Japan, including two games in Stockholm this past November. The Asian market also remains a top priority, especially heading into the 2022 Olympics in Beijing — though the league sent mixed signals by refusing to send its players to this year's Winter Games in South Korea. For the NHL and the NBA, the enormous travel times between North America and either Europe or Asia remain the biggest obstacle to adding teams in those markets. Unless some sort of supersonic transportation becomes available, it would simply be too difficult to incorporate such faraway cities as London and Tokyo into an 82-game schedule, which requires teams to play games all through the week and sometimes on back-to-back days. Also working against European expansion: the lack on U.S.-quality arenas (even the most modern facilities generally lack the size and amenities to generate as much revenue as their American counterparts) and established basketball and hockey leagues in many countries would surely object to the NBA or NHL coming in to steal their limelight. For the NFL, the challenges aren't nearly so daunting, and the potential rewards could be even greater for a league that has faced declining TV ratings and lots of bad publicity about the devastating physical toll on its players. There are no major pro football leagues in Europe. Teams play only once a week, generally on Sunday, and the entire regular-season schedule is just 16 games. A team in London would have to make the cross-Atlantic trek no more than eight times a year, and the demands could be lessened by scheduling back-to-back road games, halving the number of long-range roundtrips. A London team could even maintain its base of operations in the U.S., essentially playing all its games on the road but perhaps making it easier to sign players in free agency and cope with legal issues and currency fluctuations. Travel would not be a concern for a Mexican team. The NBA, NFL and Major League Baseball have all played regular-season games south of the border — next weekend, in fact, the Los Angeles Dodgers will meet the San Diego Padres in a three-game series at Monterrey . MLB seems the most logical candidate to launch a Mexican team, given baseball's popularity and the large number of Latin American players in the majors, but the NBA is leading the way. Silver wants to put a G League development team in Mexico City, testing the waters for a possible NBA franchise. "As we look down the road, frankly, to see whether there can be an opportunity to even dream about an NBA franchise here in Mexico City, we believe it makes sense as a first step to have a development league team here to work out some of the issues, to better understand what it would mean to have a team in Mexico," Silver said. There are still plenty of questions to answer, that's for sure. But one is crystal clear. Are U.S. leagues going international? No doubt about it......»»

Category: sportsSource:  abscbnRelated NewsApr 28th, 2018

Asia stocks decline as treasuries extend losses

Asian stocks followed their U.S. counterparts lower as worries about the earnings outlook weighed on industrial and technology shares. The 10-year Treasury yield climbed to a fresh high after piercing the 3 percent level for the first time in four years. Shares from Tokyo to Hong Kong dropped. U.S. equities fell overnight as a slew […] The post Asia stocks decline as treasuries extend losses appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsApr 25th, 2018

Markets surge as investors breathe easier

HONG KONG: A wave of optimism flowed across Asian markets on Tuesday, tracking a surge on Wall Street, as fears of a US-China trade war receded. Speculation that Kim Jong Un was on a surprise secret visit to Beijing also lifted spirits — and the South Korean won — as the North Korean leader prepares [...] The post Markets surge as investors breathe easier appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsMar 28th, 2018

Business sentiment across Asia edges up to hit seven-year high

SYDNEY — Business confidence among Asian companies rose in the first quarter to the highest level in seven years, a Thomson Reuters/INSEAD survey showed, as a fresh surge by the Chinese economy offset concerns about rising trade barriers. The Thomson Reuters/INSEAD Asian Business Sentiment Index, representing the six-month outlook of 67 firms, advanced one notch […] The post Business sentiment across Asia edges up to hit seven-year high appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 21st, 2018

Asian stocks fall; dollar rises with bond yields

Most Asian equity benchmarks declined with US futures and the dollar rose as Treasury yields climbed back toward recent four-year highs. Japan’s Topix index dropped after staging its second-best performance this year, while shares in Australia and South Korea also fell, taking their cue from European markets as US equities and Treasuries took a break […] The post Asian stocks fall; dollar rises with bond yields appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsFeb 20th, 2018

Trade gap widens as imports surge

A sustained double-digit jump in imports and a continued decline in merchandise exports widened the trade deficit to a record-high $4.02 billion in December. Preliminary data released by the Philippine Statistics Authority Friday showed that the value of imported goods last December jumped 17.6 percent to $8.74 billion. On the other hand, exports of Philippine-made goods that month declined 4.9 percent to $4.72 billion. The total external trade in goods rose 8.6 percent to $13.46 billion in December last year. The country's chief economist, Socioeconomic Planning Secretary Ernesto M. Pernia, earlier said that the sustained wider trade in goods deficit was "not good, but trans...Keep on reading: Trade gap widens as imports surge.....»»

Category: newsSource:  inquirerRelated NewsFeb 10th, 2018