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Bezos tops Forbes world s rich list as Trump wealth drops

PARIS, France — Amazon chief Jeff Bezos is now the world's richest person, having snatched the top spot from Microsoft founder Bill Gates who slips to second.....»»

Category: newsSource: philstar philstarMar 7th, 2018

Bezos tops Forbes world s rich list as Trump wealth drops

PARIS, France — Amazon chief Jeff Bezos is now the world's richest person, having snatched the top spot from Microsoft founder Bill Gates who slips to second.....»»

Category: newsSource:  philstarRelated NewsMar 7th, 2018

Manny Villar s fortune triples, climbs to 2nd spot in Forbes rich list

Real estate tycoon Manuel Villar is now the Philippines' second richest man after his wealth tripled over the past year, according to Forbes magazine’s 2018 ranking of the country’s 50 wealthiest people, amid a construction boom in the Philippines that has boosted the fortunes of the country’s business magnates......»»

Category: financeSource:  philstarRelated NewsSep 6th, 2018

Hans Sy steps up to forge a legacy in education, environment and the arts

The 2018 Forbes list of richest individuals in the world created a lot of buzz in the Philippines not because people wanted to find out who topped the list of billionaires in the country (everyone knows that Henry Sy is the wealthiest Filipino alive), but how his wealth has increased considerably last year, enough to overtake Canadian-American billionaire Elon Musk......»»

Category: newsSource:  philstarRelated NewsApr 12th, 2018

Tax haven secrets of ultra-rich exposed – BBC News

A huge new leak of financial documents has revealed how the powerful and ultra-wealthy, including the Queen’s private estate, secretly invest vast amounts of cash in offshore tax havens. Donald Trump’s commerce secretary is shown to have a stake in a firm dealing with Russians sanctioned by the US. The leak, dubbed the Paradise Papers, contains 13.4m documents, mostly from one leading firm in offshore finance. BBC Panorama is part of nearly 100 media groups investigating the papers. As with last year’s Panama Papers leak, the documents were obtained by the German newspaper Süddeutsche Zeitung, which called in the International Consortium of Investigative Journalists (ICIJ) to oversee the investigation. The Guardian is also among the organisations investigating the documents. Sunday’s revelations form only a small part of a week of disclosures that will expose the tax and financial affairs of some of the hundreds of people and companies named in the data, some with strong UK connections. Many of the stories focus on how politicians, multinationals, celebrities and high-net-worth individuals use complex structures of trusts, foundations and shell companies to protect their cash from tax officials or hide their dealings behind a veil of secrecy. The Paradise Papers show that about £10m ($13m) of the Queen’s private money was invested offshore. It was put into funds in the Cayman Islands and Bermuda by the Duchy of Lancaster, which provides the Queen with an income and handles investments for her £500m private estate. There is nothing illegal in the investments and no suggestion that the Queen is avoiding tax, but questions may be asked about whether the monarch should be investing offshore. There were small investments in the rent-to-buy retailer BrightHouse, which has been accused of exploiting the poor, and the Threshers chain of off-licences, which later went bust owing £17.5m in tax and costing almost 6,000 people their jobs. The Duchy said it was not involved in decisions made by funds and there is no suggestion the Queen had any knowledge of the specific investments made on her behalf. The Duchy has in the past said it gives “ongoing consideration regarding any of its acts or omissions that could adversely impact the reputation” of the Queen, who it says takes “a keen interest” in the estate. Wilbur Ross helped stave off bankruptcy for Donald Trump in the 1990s and was later appointed commerce secretary in Mr Trump’s administration. The documents reveal Mr Ross has retained an interest in a shipping company which earns millions of dollars a year transporting oil and gas for a Russian energy firm whose shareholders include Vladimir Putin’s son-in-law and two men subject to US sanctions. It will again raise questions about the Russian connections of Donald Trump’s team. His presidency has been dogged by allegations that Russians colluded to try to influence the outcome of last year’s US election. He has called the allegations “fake news”. Democratic Senator Richard Blumenthal has called for an investigation, telling NBC News that Mr Ross had given Congress the impression he no longer held shares in the shipping company. “Our committee was misled, the American people were misled by the concealment of those companies.” Most of the data comes from a company called Appleby, a Bermuda-based legal services provider at the top end of the offshore industry, helping clients set up in overseas jurisdictions with low or zero tax rates. Its documents, and others mainly from corporate registries in Caribbean jurisdictions, were obtained by Süddeutsche Zeitung. It has not revealed the source. The media partners say the investigation is in the public interest because data leaks from the world of offshore have repeatedly exposed wrongdoing. In response to the leaks, Appleby said it was “satisfied that there is no evidence of any wrongdoing, either on the part of ourselves or our clients”, adding: “We do not tolerate illegal behaviour.” Essentially it’s about a place outside of your own nation’s regulations to which companies or individuals can reroute money, assets or profits to take advantage of lower taxes. These jurisdictions are known as tax havens to the layman, or the more stately offshore financial centres (OFCs) to the industry. They are generally stable, secretive and reliable, often small islands but not exclusively so, and can vary on how rigorously they carry out checks on wrongdoing. The UK is a big player here, not simply because so many of its overseas territories and Crown dependencies are OFCs, but many of the lawyers, accountants and bankers working in the offshore industry are in the City of London. It’s also about the mega-rich. Brooke Harrington, author of Capital Without Borders: Wealth Managers and the One Percent, says offshore finance is not for the 1% but the .001%. Assets of around $500,000 (£380,000) would just not meet the offshore fees the schemes would need, she says. Well, it is a lot of cash. The Boston Consulting Group says $10tn is held offshore. That’s about the equivalent of the gross domestic products of the UK, Japan and France – combined. It may also be a conservative estimate. Critics of offshore say it is mainly about secrecy – which opens the door to wrongdoing – and inequality. They also say the action of governments to curb it has often been slow and ineffective. Brooke Harrington says if the rich are avoiding tax, the poor pick up the bill: “There’s a minimal amount the governments need to function and they recoup what they lose from […].....»»

Category: newsSource:  mindanaoexaminerRelated NewsNov 6th, 2017

Amazon s Jeff Bezos was briefly the world s richest man

NEW YORK — Amazon CEO Jeff Bezos briefly became the world's richest man Thursday in Forbes magazine's tracking of wealth, as stock in his e-commerce company.....»»

Category: financeSource:  philstarRelated NewsJul 28th, 2017

Bank that lent $300m to Trump linked to Russian money laundering scam – The Guardian

The German bank that loaned $300m (£260m) to Donald Trump played a prominent role in a money laundering scandal run by Russian criminals with ties to the Kremlin, the Guardian can reveal. Deutsche Bank is one of dozens of western financial institutions that processed at least $20bn – and possibly more – in money of “criminal origin” from Russia. The scheme, dubbed “the Global Laundromat”, ran from 2010 to 2014. Law enforcement agencies are investigating how a group of politically well-connected Russians were able to use UK-registered companies to launder billions of dollars in cash. The companies made fictitious loans to each other, underwritten by Russian businesses. The companies would default on these “debts”. Judges in Moldova then made court rulings enforcing judgments against the firms. This allowed Russian bank accounts to transfer huge sums to Moldova legally. From there, the money went to accounts in Latvia with Trasta Komercbanka. Deutsche, Germany’s biggest lender, acted as a “correspondent bank” for Trasta until 2015. This meant Deutsche provided dollar-denominated services to Trasta’s non-resident Russian clients. This service was used to move money from Latvia to banks across the world. During this period many Wall Street banks got out of Latvia, citing concerns that the small Baltic country had become a centre for international money laundering, especially from neighbouring Russia. In 2013, and under US regulatory pressure, JP Morgan Chase ceased providing dollar clearing services to the country. From 2014, only two western lenders were willing to accept international dollar transfers from Latvian banks. They were Deutsche and Germany’s Commerzbank. Deutsche eventually withdrew correspondent services to Trasta Bank in September 2015. Six months later, Latvian regulators shut down the bank. They cited repeated violations, and said the bank had failed to deal with its money laundering risk. Latvia’s deputy finance minister, Maija Treija, said the money sent via Trasta was “either stolen or with criminal origin”. The defunct bank was being used as vehicle to get money out of the ex-Soviet Union and “into the EU financial system”, she added. Deutsche said it had significantly strengthened its systems and controls. It said that by the end of this year it will have hired more than 1,000 new staff in its compliance and anti-financial crime unit since 2015. It added: “The bank has comprehensively reviewed its client onboarding and know-your-client processes and where necessary is exiting higher risk client relationships and markets.” Commerzbank said it could not comment on its relationships with other banks. It said it put a high value on compliance. It said that suspicious transactions picked up during routine monitoring were reported to the authorities. Deutche Bank ended its relationship with Trasta soon after Latvia’s regulator issued a warning, it is understood. In August 2015, the Financial and Capital Markets Commission stopped all transactions above €100,000. Deutsche severed its relationship with the other key Laundromat bank &'' Moldova’s Moldindconbank – in 2012. Ties with Russia are a matter of acute sensitivity for Deutsche. In February, it emerged that Deutsche had secretly reviewed multiple loans made to President Trump by its private wealth division to see if there was a connection to Russia. Trump owes Deutsche about $300m. Deutsche refused to comment on its internal review. Sources say the bank discovered no evidence of any Moscow link. That covers other members of the US president’s family who are also Deutsche clients. They include Trump’s daughter, Ivanka, her husband, Jared Kushner, and Kushner’s mother, Seryl Stadtmauer. In January, the UK and US imposed record $630m fines on Deutsche for its role in another money laundering scam run out of its Moscow office. The bank failed to prevent $10bn of Russian money being laundered in a complex “mirror trades” operation. The wealthy Russians that used the scheme have not been identified. Deutsche’s Private Bank – the division that lends to Trump – appears in the Global Laundromat scheme. Sources suggest that many of its clients are rich Russians, typically with personal assets of $50m-plus. According to Germany’s Süddeutsche Zeitung, Deutsche processed more than $24m of Laundromat cash in 209 transactions. Records obtained by the Organized Crime and Corruption Project (OCCRP) and Novaya Gazeta from anonymous sources show how the money was spent. Much of it vanished into opaque offshore companies. Some of it went on luxury items including diamonds, leather jackets, and home-cinema equipment. One of Deutsche’s high net worth customers blew €500,000 at Mahlberg, a German jewellery firm. The payment in January 2013 was made by Seabon Limited, a Laundromat company registered in Tooley Street, London. More than $9bn was funnelled via Seabon, records show. Almost €1m went to a Munich electronics firm, Rohde &'38; Schwarz, which produces surveillance technology for security services and police. Often, the explanation for high-volume payments was fake. The money spent on watches was marked down on the bank wire transfer as a payment for “computer equipment”. Another $500,000 payment was made to a London fur broker, Gideon Bartfeld. Bartfeld said the money had arrived from Deutsche Bank New York, before being sent on to the Bank of New York Mellon, which paid the invoice. Trasta – the bank that first sent the money to Deutsche – did not appear in any paperwork, he added. Bartfeld said the payment came via two “highly reputable and respected” global banks. He said: “Consequently, we received this payment in full confidence [as they] were satisfied that the payment met their [&'].....»»

Category: newsSource:  mindanaoexaminerRelated NewsMar 22nd, 2017

Arts & Leisure: Taylor Swift tops Forbes list of highest paid musicians

NEW YORK -- US pop star Taylor Swift, boy band One Direction and British singer Adele were the highest paid musicians in the world this year, Forbes magazine said on Wednesday......»»

Category: financeSource:  bworldonlineRelated NewsDec 1st, 2016

Dwayne Johnson tops Forbes list of best paid actors

LOS ANGELES (AFP) - Dwayne "The Rock" Johnson was named the world's highest paid actor by Forbes on Thursday, raking in $64.5 million and snatching the title held for three consecutive years by Robert Downey Jr......»»

Category: newsSource:  mb.com.phRelated NewsAug 26th, 2016

Henry Sy Tops Forbes Philippines Rich List for Nine Years in a Row

Henry Sy Tops Forbes Philippines Rich List for Nine Years in a Row.....»»

Category: newsSource:  thepinoyRelated NewsAug 26th, 2016

Man City tops list of FIFA payments for World Cup players | Inquirer Sports

ZURICH — Manchester City is at the top of the FIFA list of clubs receiving payments from World Cup revenues for releasing players for national team duty in Russia. FIFA says Man City will get $5 mil Source link link: Man City tops list of FIFA payments for World Cup players | Inquirer Sports.....»»

Category: newsSource:  manilainformerRelated NewsDec 4th, 2018

Man City tops list of FIFA payments for World Cup players | Inquirer Sports

ZURICH --- Manchester City is at the top of the FIFA list of clubs receiving payments from World Cup revenues for releasing players for national team duty in Russia. FIFA says Man City will get $5 mil.....»»

Category: newsSource:  philippinetimesRelated NewsDec 4th, 2018

Iconic beach from popular K-drama named world’s best beach 2018

A beach in Greece that will be instantly recognizable to fans of K-drama tops a new list of theworld'sbest 100 beaches, as voted by journalists, editors and bloggers from around the world. For its list of world's best beaches, airfare agencyFlightNetworktapped 1,200 travel experts around the world on their picks for the most beautiful, postcard-perfect beach destinations around the world. Taking the top spot isNavagioBeach, better known as Shipwreck Beach in Zakynthos, Greece. The slice of paradise takes its rather ominous name from the rusty remains of the shipwrecked Freightliner MV Panagiotis, whichsits anchored againsttowering golden cliffs in the hidden cove. FlightN...Keep on reading: Iconic beach from popular K-drama named world’s best beach 2018.....»»

Category: newsSource:  inquirerRelated NewsDec 3rd, 2018

Tuchel stands up to player power at PSG, and it worked

By Jerome Pugmire, Associated Press PARIS (AP) — Paris Saint-Germain coach Thomas Tuchel made a bold move by standing up to big names at a club where player power usually rules. He dropped 19-year-old France forward Kylian Mbappe, widely tipped as soccer's next superstar, and midfielder Adrien Rabiot for the game at Marseille on Sunday night. Both players are Parisian-born and fully understood the importance of the match for PSG fans against the club's bitter rival. Yet both turned up late to a pre-match team talk, something Tuchel simply could not excuse and he left them out of the starting lineup. "(It was) a disciplinary situation. We needed to do that," Tuchel said unapologetically on Canal Plus television. "It's like that." Mbappe came off the bench in the second half and scored the first goal in a 2-0 win which sent PSG to an 11th straight league win. It was also the World Cup star's 10th league goal so far, in just seven games for him. Rabiot, who refused to be on France's reserves list for the World Cup and has long been negotiating a new PSG contract, came on about 10 minutes from time. Despite his authoritative decision-making, which was backed by PSG winger Julian Draxler, the coach was surprisingly downbeat and sounded almost despondent after the game. "I don't like playing without Kylian," he said. "I hate it." Tuchel was then was then asked if it was a good day for him as a coach. "For me, personally, no," he said, his head dropping and his voice trailing off. "For me it was quite tough today." It has been a topsy-turvy week for Tuchel, who saw his side fall behind twice and dominated for long spells in a 2-2 home draw with Napoli in the Champions League on Wednesday. That draw leaves PSG third in its group and in danger of not qualifying for the Round of 16. If so, Tuchel would become the first PSG coach knocked out of the group stage since cash-rich Qatari investors QSI took over at the club seven years ago. On the other hand, his team is coasting in the league with 39 goals in 11 games and the best defense. Tuchel has earned praise from the French media for his player management skills, often touted as a counterpoint to his predecessor Unai Emery, but the decision to drop Mbappe seemed to weigh heavily on him. Perhaps with good reason, for it puts him in a potentially difficult position because star players often have their own way at PSG. Such is the club's desire to win the Champions League and join Europe's elite, some players have been seemingly indulged. Zlatan Ibrahimovic, for example, was allowed days off to go hunting in the forests of his native Sweden. Others, such as Edinson Cavani and Javier Pastore, returned late from the mid-season winter break — which even led to public criticism from their own captain, Thiago Silva. Pampering stars has not had the necessary outcome, either, with PSG unable to get beyond the quarterfinals of the Champions League since QSI took over. In the last two years, PSG has failed to reach the quarters, leading to Emery's departure and Tuchel's arrival. Despite his friendly and easy-going appearance, Tuchel is a disciplinarian and firm on principles such as cutting out sugary drinks on the team bus and strict time-keeping. At a club with such lofty ambitions, these should be rudimentary. Yet the way Mbappe was comforted before Sunday's game, even by the vastly experienced goalkeeper Gianluigi Buffon, suggests he got the sympathy vote rather than Tuchel getting the understanding. Even Tuchel seemed anxiously keen to encourage Mbappe before the teenage forward went on in the 62nd minute, wrapping a consoling arm around him as if to apologize for the sanction. Still, Tuchel was at least supported by Draxler, who scored the second goal against Marseille. "It's something between the coach and the player, but for me it's clear the club is more important than a single player," Draxler said. "The coach will decide what he wants and we won, so he's right.".....»»

Category: sportsSource:  abscbnRelated NewsOct 29th, 2018

Trump assails Roberts’ moves in Dodgers’ 9-6 loss to Red Sox

LOS ANGELES --- Working on a one-hitter with a 4-0 lead, Rich Hill had just set down Eduardo Nunez swinging for the first out of the seventh inning. Dodgers manager Dave Roberts had seen enough. Walking to the mound, he signaled to the bullpen and Hill was gone. "Big mistake!" President Donald Trumptweeted. It was the beginning of another troubled outing for Los Angeles' bullpen in the World Series. Six relievers combined to give up eight of Boston's nine runs over the final three innings in a 9-6 loss Saturday night that sent the Dodgers to the brink of elimination for the second straight year. "Watching the Dodgers/Red Sox final innings," Trump tweeted. "It is amazing how a mana...Keep on reading: Trump assails Roberts’ moves in Dodgers’ 9-6 loss to Red Sox.....»»

Category: newsSource:  inquirerRelated NewsOct 28th, 2018

China leads the way as world’s billionaires get even richer

BERLIN --- The rich got richer than ever before last year, with China leading the way. Swiss bank UBS said Friday that its annual study of the world's billionaires found their combined wealth rose by $1.4 trillion to an eye-popping $8.9 trillion in 2017. The number of billionaires around the global also increased, from 1,979 in 2016 to 2,158 last year. China alone saw two new billionaires emerge each week, highlighting the rapid rise of a class of super rich in the nominally communist country. Many of the country's 373 billionaires --- almost one in five of the global total --- are self-made tycoons, often involved in the technology and retail sectors. The report forec...Keep on reading: China leads the way as world’s billionaires get even richer.....»»

Category: newsSource:  inquirerRelated NewsOct 27th, 2018

China leads the way as world s billionaires get richer

ZURICH, Switzerland (UPDATED) – China produced two new billionaires a week last year as the fortunes of the world's ultra-rich soared by a record amount, Swiss banking giant UBS and auditors PwC said Friday, October 26. Billionaires’ wealth enjoyed its "greatest-ever" increase in 2017, rising 19 percent to $8.9 trillion ........»»

Category: newsSource:  rapplerRelated NewsOct 26th, 2018

MAJOR POINT: Has the PBA Solved Its Draft Problem?

Late last week on October 12th, the Philippine Basketball Association (PBA) made an announcement that the PBA Board of Governors voted and agreed unanimously that starting 2019, the number 1 overall draft pick can no longer be traded and is exclusively for the worst team in the league to pick who they choose. At first glance, the PBA’s announcement looks like a solution to the draft problem that has gone on for over a decade. If you just read the headline or skimmed through the press release or an article written on the subject maybe you think the PBA has found its solution to the draft problem that caused division in the PBA Board and led to the hiring of a new commissioner after another draft debacle last year. Ever the skeptic, I read more than the headlines. Instead of skimming through the press release and articles, I read the fine print. After my readings and a few discussions with basketball people, do I feel the PBA has found a solution to its draft problem? I’m skeptical. I have questions. But before we get to my questions, lets take a look at how the PBA got itself in a situation where they had to make an actual rule that the worst team in the league CAN’T trade the number one overall pick: 2005: Anthony “Jay” Washington gets drafted number one overall by Air21 Express. Washington gets traded on draft day to the Talk ’N Text Phone Pals. Talk ’N Text was second in wins in the PBA in the three conferences leading up to the 2005 draft. 2008: The Talk ’N Text Phone Pals have picks 2 and 4 in the first round of the draft despite being tied for the most number of wins in the 2006-2007 season. They draft Jared Dillinger and Rob Reyes with those picks. TNT trades Jay Washington to the San Miguel Beermen and acquires the third overall pick, which turns out to be Jayson Castro. 2009: Japeth Aguilar is selected number one overall by the Burger King Whoppers. Aguilar plays one game for the Whoppers, before he is shipped to the Talk N Text Tropang Texters in a three-way trade also involving Barako Bull. Burger King was able to get Barako Bull’s 2010 (previously acquired by Talk ‘N Text) and 2012 first-round picks along with Talk ‘N Text’s 2013 and 2014 first-round picks. 2010: Noy Baclao and Rabeh Al-Hussaini are selected first and second overall by Air21 Express. Midway through their rookie season both Baclao and Al-Hussaini along with Rey Guevarra are traded to Petron Blaze in exchange for Danny Seigle, Dondon Hontiveros, Dorian Peña and Paul Artadi. Baclao and Al-Hussaini help the Petron Blaze win the 2011 PBA Governors’ Cup. Al-Hussaini wins Rookie of the Year. 2012: The Petron Blaze Boosters (from Barako Bull via Air21) select June Mar Fajardo number one overall. 2013: Barangay Ginebra (from Air21) selects Greg Slaughter number one overall. Barako Bull had the fourth, fifth and sixth picks in the first round. Barako Bull decides to trade away all three first round picks. The fifth pick turns out to be Terrence Romeo. 2014: Despite winning the Philippine Cup in a 4-0 sweep, Talk ’N Text lands the second and fourth picks overall and selects Kevin Alas and Matthew Ganuelas-Rosser before the 2014-2015 PBA season begins. Alas & Ganuelas-Rosser help Talk ’N Text win the 2015 Commisioner’s Cup. Kia Sorento with their first pick in franchise history selects Manny Pacquiao 11th overall. 2015: Despite winning the 2015 Commissioner’s Cup, Talk ’N Text has the number one overall pick (from Blackwater). Talk ’N Text selects Moala Tautuaa number one and then two days later trade for the number two overall pick, Troy Rosario (Mahindra). 2016: The “Special” Draft. Gilas players are selected behind closed doors. One Gilas cadet per team, not to be traded for two years. Draft order was never released to the PBA fans/public. 2017: The San Miguel Beerman, despite winning two championships, having the most wins and the best win percentage, select Christian Standhardinger number one overall after a trade from Kia. Losing out on the Standhardinger sweepstakes, TNT blasts Commissioner Narvasa for approving the trade. The PBA divides where seven teams declare they have a “loss of confidence” in Commissioner Narvasa. Five teams support Commissioner Narvasa. After a three-month stalemate, Commissioner Narvasa steps down and the PBA Board appoints a new commissioner, Willie Marcial. As you can see, it is a little more complicated than having the number one overall pick protected from a trade. While the number one overall pick has been traded seven times in the last 13 years, which has to be some kind of record, there have been other issues as well. And that is where my long list of questions begins: -    What’s to stop an already winning team from stacking up multiple first round picks other than the number one overall pick, like in 2008 and 2014? -    This "no trading of the top pick rule" becomes effective in 2019. Why the wait? Why can’t it apply this year? Columbian Dyip has the first pick this season. History says they could likely trade that pick to a championship team. Why do we have to go through this make-believe world another year? -    Hypothetically, how would the PBA handle this situation: Phoenix trades an active player to Rain or Shine for ROS’s 2021 1st round pick. Unfortunately, in 2020, ROS has a variety of injuries and acquires the number one overall pick. What happens then? Who gets the first pick? ROS or Phoenix? -    After the first pick is drafted, when does that player selected first become tradeable? Can it be traded after the draft? If not, for how long? Looking at the draft history of the last 13 years, you have to wonder, what were the objectives of teams like Air21, Barako Bull & Kia? Were those teams in the league to form competitive teams? Were they attempting to build championship teams? Why were those teams trading so many of their top picks? Columbian justified its trading of the number pick last year by saying they were going to play in an “unconventional” way. Their unconventional way has led them to five wins in 31 games so far this season. It has also earned them the number one overall pick for the second year in a row. The PBA Draft is supposed to be fun. It used to be fun. Before 2005, the PBA Draft was a legitimate event. It was something to look forward to. The idea of the draft is still special in theory. It’s a day where dreams come true. Drafted players lives change that day. Many times, the lives of a player's family change forever when their son or husband or father is drafted in the PBA. It's an opportunity for teams who have struggled to get better. It's supposed to give hope to teams drafting high and a challenge to teams drafting low. That is how the draft system is supposed to work. Unfortunately, in the PBA that system has been broke for a long time. I like the idea and the spirit of the draft. However, last year on my podcast, Staying MAJOR, I argued that the PBA should scrap its draft. That made me sad. It made me sad because I feel like the spirit of the PBA Draft has been lost. It's been lost by teams manipulating the system for the improvement of their individual team or their team's objective, but not for the betterment of the league. I’m tired of the PBA Draft getting hijacked every year. And now we have to likely go through it again this year. Even after what happened last year. Not being able to trade the number one pick sounds good. It’s a nice blanket statement. I even think it might be a step in the right direction. But, sometimes when you're bleeding, you need more than a band-aid. Fans aren’t naive. They can figure out what’s going on when year after year the rich get richer and the poor stay poor. Maybe some of my questions will get answered here as the draft approaches? Maybe Columbian Dyip won’t trade their pick again? Maybe that’s just wishful thinking on my part? If there is a silver lining, it is at least the PBA and its Board have acknowledged that there is a problem. At least there was an attempt to fix it. I’d say vetting of new potential franchises, so the PBA doesn’t have members who want to trade their draft picks to already successful teams is the bigger issue, but hopefully this is a start of trying to level the playing field. Wouldn’t it be fun to have teams that haven’t won in a while, keep their picks and build contending teams? Or at least not give them to the already strong teams? Wouldn’t that be fun? Wouldn’t it be fun to celebrate the draft spirit of hope on draft day without trying to figure out how the best teams ended up with the top picks again? The PBA is a professional, competitive, sports league. That’s what it’s supposed to be. The PBA is supposed to be fun too. However, it’s NOT fun or competitive when the top teams keep picking high every year. That’s not real competition to me. So will the PBA’s new rule regarding the number one overall pick change anything? This year, no. Starting next year, maybe. I’d like to be optimistic that there will be change or that this rule will initiate an on-going conversation of how to make the draft better. Unfortunately, we still have a full year of waiting before we find out. Eric Menk played in the PBA from 1999 to 2016. Menk is a four-time PBA champion, three-time PBA Finals MVP and one-time PBA MVP (2005). He will be writing for ABS-CBN Sports weekly. Menk also has his podcast Staying MAJOR as welll as his own YouTube channel ......»»

Category: sportsSource:  abscbnRelated NewsOct 19th, 2018

Asia’s best islands: Siargao, Boracay, Palawan top Conde Nast list

Three Philippine islands remain on the radar of global tourists, grabbing the top spots as the best islands in Asia voted by readers of international travel magazine Conde Nast Traveler, while two hotels have been cited by Forbes Travel Guide in its first annual list of most luxurious hotels in the world......»»

Category: newsSource:  philstarRelated NewsOct 11th, 2018

It’s Trump against the world

UNITED NATIONS — A gaping ideological divide cuts through this year’s gathering of world leaders at the United Nations. It’s not between capitalists and communists, rich and poor, East and West. It’s between multilateralists who advocate nations working together and unilateralists who are pushing for national sovereignty. Despite near universal hand wringing about the UN’s […].....»»

Category: newsSource:  tribuneRelated NewsSep 27th, 2018

Villar breaks into Sy-led 10 richest Filipinos list

HENRY SY, Sr. remains the country’s wealthiest man for the 11th straight year in Forbes Asia’s “Philippines’ 50 Richest” list, which reflected the economy’s overall volatility as many registered shifts in wealth from 2017. The post Villar breaks into Sy-led 10 richest Filipinos list appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsSep 7th, 2018