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GERI& rsquo;s profit up by 14% to P1.29 billion in first nine months

GERI& rsquo;s profit up by 14% to P1.29 billion in first nine months.....»»

Category: financeSource: thestandard thestandardNov 8th, 2018

PLDT& rsquo;s profit declined 25% to P16.48 billion in nine months

PLDT’s profit declined 25% to P16.48 billion in nine months Source link link: PLDT’s profit declined 25% to P16.48 billion in nine months.....»»

Category: newsSource:  manilainformerRelated NewsNov 9th, 2018

PLDT& rsquo;s profit declined 25% to P16.48 billion in nine months

PLDT& rsquo;s profit declined 25% to P16.48 billion in nine months.....»»

Category: financeSource:  thestandardRelated NewsNov 8th, 2018

Panel hopes to end US NCAA one-and-dones

By Ralph D. Russo, Associated Press INDIANAPOLIS (AP) — The most difficult part of the NCAA’s attempt to clean up college basketball begins now. Hours after former Secretary of State Condoleezza Rice presented the Commission on College Basketball’s sweeping recommendations for reforming a sport weighed down by corruption, NCAA leaders set in motion the process for turning those ideas into reality. The NCAA Board of Governors, a group of 16 university presidents and the association’s highest ranking body, unanimously endorsed all the commission’s recommendations Wednesday. Now it’s up to various subcommittees, working groups and college administrators to dig into a mountain of work over the next three months as the NCAA attempts to change NBA draft rules, create a new enforcement body, toughen penalties for rules violations, revamp summer recruiting and certify agents. All while trying to get buy-in from organizations that might not be motivated to help. “It’s going to be a challenge to say the least,” NCAA President Mark Emmert said. “This is a pace of decision making that the association’s really never done on this kind of scale before.” The Division I Council, comprised mostly of athletic directors and headed by Miami AD Blake James, has the job of turning the recommendations into rules. That requires feedback from schools, then council votes with some conference votes counting more heavily than others. Each proposal then goes to the Board of Directors, where a majority vote is needed to send it to the Board of Governors for final approval. It’s a winding path — crossing 351 Division I schools with varied priorities and concerns — and requiring consensus building and compromise for measures to pass. NCAA rule changes can sometimes take a full calendar year to sort out. “We’ve got to make sure we don’t let the good fall victim to the perfect here,” Emmert said. “Nobody believes we’re going to get everything perfect the first time through.” The independent commission Rice led released a much-anticipated and detailed 60-page report , seven months after the group was formed in response to a federal corruption investigation that rocked college basketball. Ten people, including some assistant coaches, have been charged in a bribery and kickback scheme , and high-profile programs such as Arizona, Louisville and Kansas have been tied to possible NCAA violations. “They believe the college basketball enterprise is worth saving,” Rice told the AP of commission members in an interview before addressing NCAA leaders. “We believe there’s a lot of work to do in that regard. That the state of the game is not very strong. We had to be bold in our recommendations.” The proposals were wide-ranging, falling mostly into five categories: NBA draft rules, specifically the league’s 19-year-old age limit that has led to so-called one-and-done college players; non-scholastic basketball such as AAU leagues and summer recruiting events; the relationship between players and agents; relationships with apparel companies; and NCAA enforcement. “Some people like some of (the recommendations) more than others, which is human nature, but as a board we’re unanimous in the endorsement and the acceptance of these recommendations for the NCAA,” said Minnesota President Eric Kaler, chairman of the Division I Board of Directors. It’s not yet clear how the governing body would pay for some of the proposals, though the NCAA reported revenues of more than $1 billion dollars for fiscal year 2017 in its most recent financial disclosures. The commission offered harsh assessments of toothless NCAA enforcement, as well as the shady summer basketball circuit that brings together agents, apparel companies and coaches looking to profit on teenage prodigies. It called the environment surrounding hoops “a toxic mix of perverse incentives to cheat,” and said responsibility for the current mess goes all the way up to university presidents. It also defended the NCAA’s amateurism model, saying paying players a salary isn’t the answer. “The goal should not be to turn college basketball into another professional league,” the commission wrote in its report. The commission did leave open the possibility that college athletes could earn money off their names, images and likenesses, but decided not to commit on the subject while the courts are still weighing in. Rice called the crisis in college basketball “first and foremost a problem of failed accountability and lax responsibility.” ONE-AND-DONE The commission emphasized the need for elite players to have more options when choosing between college and professional basketball, and to separate the two tracks. The commission called for the NBA and its players association to change rules requiring players to be at least 19 years old and a year removed from graduating high school to be draft eligible. The one-and-done rule was implemented in 2006, despite the success of straight-from-high-school stars such as LeBron James, Kobe Bryant and Kevin Garnett. “I’m confident they are going to be very supportive,” Emmert said of the NBA and NBAPA. The NBA and players union praised the recommendations on enforcement and expressed concerns about youth basketball. On draft eligibility rules, however, there was no commitment. “The NBA and NBPA will continue to assess them in order to promote the best interests of players and the game,” they said. The commission did, however, say if the NBA and NBPA refuse to change their rules in time for the next basketball season, it would reconvene and consider other options for the NCAA, such as making freshmen ineligible or locking a scholarship for three or four years if the recipient leaves a program after a single year. “One-and-done has to go one way or another,” Rice told the AP. ENFORCEMENT The commission recommended harsher penalties for rule-breakers and that the NCAA outsource the investigation and adjudication of the most serious infractions cases. Level I violations would be punishable with up to a five-year postseason ban and the forfeiture of all postseason revenue for the time of the ban. That could be worth tens of millions to major conference schools. By comparison, recent Level I infractions cases involving Louisville and Syracuse basketball resulted in postseason bans of one year. Instead of show cause orders, which are meant to limit a coach’s ability to work in college sports after breaking NCAA rules, the report called for lifetime bans. “The rewards of success, athletic success, have become very great. The deterrents sometimes aren’t as effective as they need to be. What we want are deterrents that really impact an institution,” said Notre Dame President Fr. John Jenkins, who was a member of the Rice commission. AGENTS The commission proposed the NCAA create a program for certifying agents , and make them accessible to players from high school through their college careers. AAU AND SUMMER LEAGUES The NCAA, with support from the NBA and USA Basketball, should run its own recruiting events for prospects during the summer , the commission said, and take a more serious approach to certifying events it does not control. APPAREL COMPANIES The commission also called for greater financial transparency from shoe and apparel companies such as Nike, Under Armour and Adidas. These companies have extensive financial relationships with colleges and coaches worth hundreds of millions of dollars, and Adidas had two former executives charged by federal prosecutors in New York in the corruption case......»»

Category: sportsSource:  abscbnRelated NewsApr 25th, 2018

SMC’s profit jumps to P43b

Conglomerate San Miguel Corp. said Thursday net income in the first nine-months of the year jumped 125 percent to P42.9 billion from P19.08 billion year-on-year, as all the core businesses posted double digit growth in terms of operating income......»»

Category: financeSource:  thestandardRelated NewsNov 10th, 2016

Top sports headliners in the year that was

From the FIFA World Cup to the NBA, the PBA to the UAAP and NCAA, the Asian Games to Manny Pacquiao, volleyball to MMA, the past 12 months truly was a great year for Filipino sports fans.   Here are some of the most memorable sports headliners that bannered the year that was.    San Miguel Corporation dominates PBA San Miguel Corporation owned 2018. For the first time in the history of the Asia’s first professional basketball league one company dominated all three conferences of the PBA. The San Miguel Beermen annexed their fourth straight Philippine Cup title against sister team Magnolia last May, while Ginebra rode on undersized do-it-all forward Justin Brownlee to the Commissioner's Cup title at the expense of San Miguel last August. Then it was Magnolia's time to shine in December. The Hotshots dismantled Alaska in six games to complete SMC’s domination of PBA 2018. Outside of basketball, SMC also made its presence felt in volleyball as Petron bagged the Grand Prix, Challenge Cup (beach volleyball) and the All-Filipino Conference in the Philippine Superliga.   Kai Sotto stands tall as Ateneo takes title vs NU Kai Sotto became a household name in 2018 as the 7'1" wunderkind showed off in the UAAP Season 80 juniors' basketball tournament. The eventual Finals MVP was a beast in Game 1 of the Finals against the NU Bullpups, tallying a triple-double of 22 points, 16 rebounds, and 11 blocks in the 86-70 win, the first of its kind since 2003. Ateneo finished the season almost unscathed at 16-1, with their lone loss in Game 2 of the series, a very chippy one to say the least. In Game 3, Sotto came up clutch, scoring the go-ahead basket, 60-58, with about 30 seconds left as Ateneo came away with the 63-58 win to take the title.  SJ Belangel, Joaqui Manuel, Dave Ildefonso and Jason Credo, and coach Joe Silva all appeared in their last games for the Blue Eaglets.   DLSU completes three-peat; NU dethrones Ateneo  The UAAP Season 80 volleyball tournament was filled with lasting memories that will surely be remembered for a long time. Numerous upsets in the eliminations, great games, and much more were the name of the game for the women's tournament. However, a long-time rivalry was rekindled when two-time defending champs De La Salle Lady Spikers met 29-time title holders FEU Lady Tamaraws for all the marbles last May. Kim Kianna Dy, Majoy Baron, and Dawn Macandili all ended their careers on a high note as they swept graduating Bernadeth Pons and the Lady Tamaraws in two straight games to win their third straight title. Graduating libero Macandili was named Finals MVP for the first and final time in her collegiate career.  Behind their magnificent floor defense and some stellar play from Finals MVP Bryan Bagunas, the NU Bulldogs also swept three-time defending champions Ateneo Blue Eagles to reclaim a title they last enjoyed in Season 76. Espejo, a five-time UAAP MVP, had an awesome performance for the world's record books, scoring a record-55 points to force the FEU Tamaraws to a do-or-die Final Four. The Blue Eagle legend had played his last, and has since suited up for a semi-pro team in Japan's topflight volleyball league.   Alab fends off Mono Vampire to claim ABL title San Miguel-backed Alab Pilipinas were such a glorious sight to see in the eighth season of the Asean Basketball League (ABL) last March. Coached by perennial fan favorite Jimmy Alapag in his very first season, the trio of Renaldo Balkman, Justin Brownlee, and Local and Finals MVP Bobby Ray Parks to their first title in home soil. Alab faced Thailand-based Mono Vampire, who were led by Mike Singletary, towering Sam Deguara, Fil-Am Jason Brickman and Pinoy Paul Zamar. In the very same day as the coronation of the UAAP volleyball championships, Alab took home the crown in a rousing 102-92 victory in Sta. Rosa, much to the delight of the home crowd. Balkman, the league's Defensive Player of the Year led Alab in scoring with 32, while Brownlee added 24 of his own. Parks added 13 markers. The two imports played in the PBA for the Commissioner's Cup, where Balkman (San Miguel) and Brownlee (Ginebra) would face each other in the Finals.   (AP Photo/Carlos Osorio) Warriors send LeBron packing to Los Angeles The Golden St. Warriors and the Cleveland Cavaliers locked horns in the NBA Finals for the fourth straight season after the two teams were pushed to the brink in the Conference Finals. Both teams were down 3-2 and won Game 7 on the road to win their respective conferences, with both teams banking on experience to forge another bout in the championship series. Game 1 was undoubtedly the most exciting game in the series as LeBron James had an epic performance of 51 points, 8 rebounds, and 8 assists.  However, JR Smith's blunder at the end of regulation became the lasting image of that game, as he dribbled out the clock with the score tied at 107-all. The defending champions rode the surge and took the opening game, 124-114. Stephen Curry's brillant performance throughout the series was overshadowed by Kevin Durant's dagger in Game 3, a few feet away from the spot where he launched the go-ahead three in Game 3 of the 2017 NBA Finals. Durant was named as the Bill Russell Finals MVP after norming 28.8 ppg, 10.8 rpg, and 7.5 apg in the four-game sweep, demolishing the Cavs 108-85 in the series finale last June. It would also be the last game LeBron James had in a Cleveland Cavaliers uniform, as he bolted for the Los Angeles Lakers almost a month later.   (AP Photo/Martin Meissner) France rules 2018 FIFA World Cup The most-coveted title of the beautiful game returned to France after two decades. The youthful French squad celebrated their conquest soaked in a downpour in Moscow after a 4-2 victory over first-time finalist Croatia in the 2018 FIFA World Cup last July. Teenager Kylian Mbappe stood out in the French team composed of a bunch of 25 and under players. Speed, strength and youth became France’s biggest asset during the quadrennial football spectacle watched by almost 3.5 billion viewers around the world.  The 19-year-old migrant scored one of the four goals in the championship match to become the second teen to score a goal in the Finals after the legendary Pele back in 1958. France defeated Belgium in the semifinal, 1-0, while Croatia outlasted the favored Russians in penalty shootout, 4-3 (2-2). The French team also displayed diversity, with players born of migrant parents including Alphonse Areola, whose parents are both Filipinos working in France.   Pac on top, The Filipino Flash returns The most-celebrated Filipino athlete continued make the headlines this year. Manny Pacquaio stripped Lucas Matthysse of his WBA welterweight world championship belt with a seventh round technical knockout win in Kuala Lumpur, Malaysia in July. Pacquiao split with long-time trainer Freddie Roach during his build up for the Matthysse bout back in April but confirmed their partnership once again for the 40-year old boxer’s title defense against Adrien Broner next year. Nonito Donaire Jr. announced that he would be going back down to super bantamweight after a loss to Carl Frampton in April for the interim WBO Featherweight belt and would be taking part in the World Boxing Super Series' super bantamweight tournament.  Matched up in the quarterfinal round against Ryan Burnett back in November, Donaire scored what many consider an upset, winning via TKO after the Irishman suffered a back injury to snatch the WBA (Super) Bantamweight World Championship.  Up next for Donaire will be WBO Super Bantamweight World Champion Zolani Tete of South Africa in the semifinals.           Pinay power in the Asian Games   The Philippines participated in the 18th Asian Games held in Jakarta and Palembang, Indonesia that ran from August 18 to September 2. A total of 272 athletes that participated in 31 sports represented the country in the quadrennial meet with Jordan Clarkson of the Cleveland Cavaliers and medalist Margielyn Didal marching as flagbearers in the opening and closing ceremonies, respectively. Rio Olympian Hidilyn Diaz gave the PHI its first gold medal in women’s -53 kg. weightlifting. Five days after Diaz’s victory, the trio of Yuka Saso, Bianca Pagdanganan and Lois Kaye Go accounted for the women’s golf team mint. Saso also bagged the individual gold. In Palembang, Didal rolled her way into winning the women’s street skateboard gold. The celebrated men’s basketball team started out strong after routing Kazakhstan but lost by two-points to China in the group stage. The Gilas Pilipinas squad advanced in the quarterfinals but bowed down to South Korea by nine points eventually settling for a fifth spot in the classification phase after wins over Japan and Syria. The PHI finished with a 4-2-15 gold-silver-bronze haul and landed at 19th spot, three places higher that its 2014 finish in Incheon, South Korea.      Red Lions roar, Blue Eagles soar San Beda University continued its mastery over the NCAA as it annexed its third straight title and 22nd overall. The Red Lions grabbed its 11th crown in 13 years at the expense of Lyceum of the Philippines University. It was one-sided championship series – just like in their Finals meeting last year – with the San Beda ripping the Pirates apart in Game One with LPU playing sans its best player in CJ Perez, who was banned for one game after failing to notify the league of his intention to join the PBA Draft. Perez returned in Game 2 but even his presence didn’t stop the Red Lions from painting the NCAA red once again. In probably one of the most memorable UAAP season in recent years, Ateneo de Manila University won its second straight crown. Ivorian tower and Rookie of the Year 6-foot-11 Ange Kouame made an immediate impact for the Blue Eagles complementing the already stacked Ateneo squad led by Finals MVP Thirdy Ravena. But the glory of Ateneo was overshadowed by the Cinderalla story of the team it vanquished in the Finals. Climbing up from the cellar in the past years, University of the Philippines made history by making it in the Finals for the first time since winning it all in 1986. But before their championship stint, the Fighting Maroons ended a two-decade Final Four drought. UP then shocked twice-to-beat Adamson University with both games decided by game-winners. Ateneo came in the series as the title favorites but overwhelming support from a very hungry UP community and underdogs fans backed the Fighting Maroons. But in the end, it was the Blue Eagles championship experience that prevailed.       Pinoys make wave in MMA Fighters under Team Lakay flexed their muscles in One Championship. Flyweight star Geje Eustaquio opened the year with an interim championship win over former champion Kairat Akhmetov in Manila back in January. Eustaquio then defeated two-time champion Adriano Moraes in Macau last July to become the undisputed ONE Flyweight World Champion.  Joshua Pacio earned the ONE Strawweight World Championship last September after a unanimous decision win over two-time champion Japanese Yoshitaka Naito. Kevin Belingon dropped former world title challenger Andrew Leone with a now-famous spinning back kick in April. He followed it up with a dominating win over then-two division world champion Martin Nguyen to capture the ONE Interim Bantamweight World Champion. Belingon ended the five-year reign and seven-year winning streak of of long-time bantamweight king Brazilian Bibiano Fernandes in November via split decision.  Eduard Folayang outclassed Singaporean contender Amir Khan at ONE: Conquest of Champions in Manila in early December to bag the ONE Lightweight World Championship for the second time in his storied career.  BRAVE Combat Federation Bantamweight World Champion Stephen Loman successfully defended his title twice in 2018.  Reigning ONE Heavyweight World Champion Brandon Vera needed only 64 seconds to knockout hard-hitting Italian challenger Mauro Cerilli in Manila early December to remain the king of the ONE Championship heavyweight kingdom.    Petron, Creamline rule respective club leagues Creamline claimed its breakthrough championship in the Premier Volleyball League by sweeping PayMaya in the Reinforced Conference Finals series last July. Alyssa Valdez finally ended a two-year title drought with the Cool Smashers' victory. Creamline opposite hitter Michele Gumabao was named Miss Globe-Philippines during the Binibining Pilipinas 2018 last March. Gumabao represented the country in the 2018 Miss Globe in Albania last October and won the Miss Social Media and Dream Girl awards while landing a spot in the Top 15.     The Cool Smashers completed a sweep of the PVL’s Season 2 after claiming the Open Conference crown at the expense of Ateneo-Motolite via an emphatic series sweep this month. In the Philippine Superliga, Petron reigned supreme in the Grand Prix after taking down archrival F2 Logistics last May. Petron extended its supremacy in the sands after the tandem of Sisi Rondina and Bernadethn Pons defeated Dhannylaine Demontano and Jackielyn Estoquia of Sta. Lucia in the Challenge Cup final last May. The Cargo Movers got its revenge in the Invitational Cup, toppling the Blaze Spikers in a series sweep last July. Petron wrapped the year with the All-Filipino Conference in its pocket. The Blaze Spikers won its first 14 games before dropping Game 2 of the Finals. Petron swept F2 Logistics in Game 3......»»

Category: sportsSource:  abscbnRelated NewsDec 30th, 2018

BSP profit hits record P48.3 billion

The Bangko Sentral ng Pilipinas (BSP) booked a record net income of P48.33 billion in the first 10 months, almost four times the P12.38 billion recorded in the same period last year......»»

Category: financeSource:  philstarRelated NewsDec 23rd, 2018

DBP reports 13% growth in third quarter profit

The net income of the Development Bank of the Philippines rose by 13 percent to P4.49 billion in the first nine months from P3.98 billion in the same period last year, driven by increased loan releases and deposits, a top official said yesterday......»»

Category: financeSource:  philstarRelated NewsNov 29th, 2018

DBP& rsquo;s net profit rose 13% to P4.5b in first 9 months

DBP& rsquo;s net profit rose 13% to P4.5b in first 9 months.....»»

Category: financeSource:  thestandardRelated NewsNov 29th, 2018

BSP profit hits record P45.2 B

Earnings of the Bangko Sentral ng Pilipinas (BSP) more than quadrupled to hit a record P45.23 billion in the first nine months from P9.97 billion in the same period last year on the back of record gains from foreign exchange fluctuations......»»

Category: financeSource:  philstarRelated NewsNov 19th, 2018

LT Group& rsquo;s profit surged 84% to P12.6 bllion in 9 months

LT Group& rsquo;s profit surged 84% to P12.6 bllion in 9 months.....»»

Category: financeSource:  thestandardRelated NewsNov 13th, 2018

Shell& rsquo;s net income grew 8% to P7.2 billion in first nine months

Shell& rsquo;s net income grew 8% to P7.2 billion in first nine months.....»»

Category: financeSource:  thestandardRelated NewsNov 13th, 2018

Rental revenues boost Megaworld& rsquo;s profit to P11.29 billion

Rental revenues boost Megaworld& rsquo;s profit to P11.29 billion.....»»

Category: financeSource:  thestandardRelated NewsNov 13th, 2018

Megaworld profit rises to P11.3 billion in 9 months

Megaworld, the Andrew Tan-led property developer, posted a net income of P11.29 billion from January to September, up 13.1 percent from the same period last year......»»

Category: financeSource:  philstarRelated NewsNov 12th, 2018

8990 profit rises 38% to P3.4 billion in 9 months

8990 Holdings Inc. grew its nine month income by 38 percent to P3.4 billion, buoyed by strong demand for its housing projects......»»

Category: financeSource:  philstarRelated NewsNov 10th, 2018

RCBC 9-month profit slips 6% to P3.2 billion

Earnings of Rizal Commercial Banking Corp. slipped six percent to P3.2 billion in the first nine months from P3.4 billion in the same period last year on the back of lower trading gains due to the volatile markets......»»

Category: financeSource:  philstarRelated NewsNov 9th, 2018

Megaworld’s GERI earns 16% more in 9 months

Global-Estate Resorts Inc. (GERI),a subsidiary of Andrew Tan-led Megaword Corp., posted a 16 percent growth in net income in the nine months to September to P1.29 billion......»»

Category: financeSource:  philstarRelated NewsNov 8th, 2018

ICTSI& rsquo;s net profit advances 3% as revenues hit $1 billion

ICTSI’s net profit advances 3% as revenues hit $1 billion Source link link: ICTSI’s net profit advances 3% as revenues hit $1 billion.....»»

Category: newsSource:  manilainformerRelated NewsNov 8th, 2018

Aboitiz Equity increased net profit to P17.3 billion in nine months

Aboitiz Equity increased net profit to P17.3 billion in nine months.....»»

Category: financeSource:  thestandardRelated NewsNov 7th, 2018

SMIC& rsquo;s net earnings rose 10% to P26.2 billion in nine months

SMIC& rsquo;s net earnings rose 10% to P26.2 billion in nine months.....»»

Category: financeSource:  thestandardRelated NewsNov 7th, 2018

ICTSI& rsquo;s net profit advances 3% as revenues hit $1 billion

ICTSI& rsquo;s net profit advances 3% as revenues hit $1 billion.....»»

Category: financeSource:  thestandardRelated NewsNov 7th, 2018