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8990 profit jumps 13% in 2018

MASS HOUSING developer 8990 Holdings, Inc. posted a 13% profit increase in 2018, driven by higher real estate sales from several projects across the country......»»

Category: financeSource:  bworldonlineRelated NewsMay 8th, 2019

All-Decade Team: Some names to watch in 2020s

By Sekou Smith, NBA.com Picking the best players of the past decade can be a delightful process, a walk down memory lane that highlights the best of the NBA’s best from the most recently completed era. We took care of that for you earlier this week with NBA.com's All-Decade Team for the 2010s. Data and established success provide the context needed to make a strong case when you're looking back. But you can't rely on those conventions when trying to decide what, and perhaps more appropriately, who, comes next. Questions linger for the big stars of the 2010s who would normally transition into the next decade with similar status. How will Kevin Durant look when he comes back from a season lost to an Achilles injury? What will Klay Thompson’s game look like post-ACL injury? There’s no saying how the summer’s superstar free agent and trade shuffle will impact career trajectories for older stars like Durant (going from Golden State to Brooklyn) and Russell Westbrook (going from Oklahoma City to Houston). Young stars just entering the league (or still finding their way) are bound to emerge in the coming years. On the other hand, established veterans will see the inevitable fading of their star status. That uncertain future for so many is part of what makes today’s exercise so much fun. We are peering into our crystal ball and projecting the future, identifying the stars who, a decade from now, might find their names on the best-of-the best list for the 2020s. * * * * = players who made a 2010s All-Decade Team Giannis Antetokounmpo, Milwaukee Bucks * "The Greek Freak" finished off the 2010s with his first Kia MVP and should be poised to compete for more this decade. He’s only scratched the surface of his immense potential and should be in the thick of the race for best player of the decade. Stephen Curry, Golden State Warriors * One half of the sweetest shooting backcourts in NBA history, Curry and his fellow Splash Brother, Thompson, could make the next All-Decade Team, too. That would require them to prove they’re still playing championship-level basketball in the Bay Area post-Durant. Anthony Davis, Los Angeles Lakers * Davis is finally positioned to chase championships and will do so as he enters the physical prime of his career. With Davis and LeBron James leading the way, the Lakers begin the next decade poised for a return to legitimate contender status. Luka Doncic, Dallas Mavericks The reigning Kia Rookie of the Year gave us all a preview of what’s to come. Doncic and Kristaps Porzingis are the foundational players expected to fuel the Mavericks the way Dirk Nowitzki did the past two decades. Joel Embiid, Philadelphia 76ers If Embiid stays healthy, he’s good enough to challenge for the unofficial title of best player of the 2020s. His availability is the most critical component for a Sixers organization that believes it is on the cusp of championship contention. Paul George, LA Clippers * George has fully bounced back from his devastating leg injury in 2014, earning a place among the NBA’s elite by finishing third in the Kia MVP voting to close out the 2010s. The only thing left on his to-do-list is to make the championship dreams of Clippers fans a reality. James Harden, Houston Rockets * Finding a new groove alongside Westbrook will determine the Rockets’ championship fate and perhaps Harden’s legacy. Harden’s Hall of Fame status is secured. He just needs a title to complete his trophy case.   LeBron James, Los Angeles Lakers * Could he win a Kia MVP in three different decades? LeBron has broken the mold in just about every way imaginable to this point of his career, so it would be foolish to doubt him. He’s also got a chance to add to his title haul in the next decade as well. As for Father Time … what does that matter? Kyrie Irving, Brooklyn Nets After winning a title as the supporting star in LeBron’s homecoming story in Cleveland, Irving hopes to revisit that magic in Brooklyn once Durant is healthy again. While Irving has some repair to do to his reputation after his final season in Boston, his talent remains undeniable. Nikola Jokic, Denver Nuggets Some would argue that Jokic (and not Embiid) finished the decade as the NBA’s best big man. The Nuggets are banking on it, as they’ve built their operation around the triple-double versatility of the 24-year-old All-Star known as “The Joker.” Kawhi Leonard, Los Angeles Clippers * Leonard load managed his way to a title in Toronto but has already declared himself ready to play without limitations as he attempts to bring a championship parade to his hometown. He’s at the height of his powers right now and, with good health, will be for the foreseeable future. Damian Lillard, Portland Trail Blazers Lillard was noticeably absent from the 2010s All-Decade Team, but he shouldn’t have to worry about that happening in the 2020s. The face and soul of the franchise in Portland, Lillard knows that the next step for he and CJ McCollum is a Finals berth. Donovan Mitchell, Utah Jazz If the addition of veteran Mike Conley has the impact Utah’s braintrust expects, Mitchell is primed to rise any ranking of the West’s (and NBA’s) top players. Don’t be surprised if he snags a scoring title (or two) in the next decade. Jayson Tatum, Boston Celtics With Kyrie Irving gone, Tatum and the Celtics can get back to the performances he provided during the 2018 playoffs as a rookie. The Celtics have refused to trade Tatum for a reason. He’s got the array of skills that a team values in a wing scorer. Trae Young, Atlanta Hawks Any pre-Draft trepidation about Young was overturned after his strong finish to his rookie season. A splendid passer with Splash Bros.-type range, Young will grow and mature physically into the leader of a franchise revival in Atlanta. Sekou Smith is a veteran NBA reporter and NBA TV analyst. 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 NewsAug 8th, 2019

SM Prime profit up 16% to P19.3 B in H1

Property giant SM Prime Holdings Inc. posted a 16 percent growth in net income in the first half of the year to P19.30 billion from P16.62 billion a year ago......»»

Category: financeSource:  philstarRelated NewsJul 16th, 2019

SM Prime net profit reaches P19.3B in H1

LISTED SM Prime Holdings Inc.’s net income increased by 16 percent to P19.30 billion in the first half of 2019 from P16.62 billion in the same period last year, which…READ The post SM Prime net profit reaches P19.3B in H1 appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJul 16th, 2019

BSP Q1 profit jumps 34% to P13.1 billion

Earnings of the Bangko Sentral ng Pilipinas (BSP) jumped 34 percent to P13.13 billion in the first quarter of the year from P9.81 billion in the same quarter last year amid higher revenues......»»

Category: financeSource:  philstarRelated NewsJun 16th, 2019

Seven takeaways from Lakers reported trade for Anthony Davis

By Steve Aschburner, NBA.com Here are seven takeaways on the reported blockbuster trade sending New Orleans star forward Anthony Davis to the Los Angeles Lakers. 1. Davis gets what he wanted all along Davis and his camp, fronted by agent Rich Paul, first made noise about getting out of New Orleans in January, when he still had a year and a half to go before he even reached the player-option year in his Pelicans contract extension. New Orleans management, notably GM Dell Demps, resisted the power play then. Of course, Demps lost his job after resisting the trade demand and seeing the ripple effects undermine his own team’s season. Demps’ replacement, David Griffin, took over on a more traditional timeline -- one year out from the dreaded possibility of having a star free agent walk without compensation. After apparently trying to change Davis’ mind, Griffin did what he felt he had to do. So the six-time All-Star doesn’t have to wait until the summer of 2020, or even the trade deadline in February, to swap a less glamorous market for the bright lights and a franchise that has never won for the Lakers’ legacy of champions built around elite big men. 2. Will future franchise players do the same? What cost did Davis pay for his trade demand? Not much. His playing time plummeted from about 37 minutes in the first four months of 2018-19 to 22 in the 16 games he actually played after Jan. 18 (Jan. 19, PHL time). He did not participate at all in 21 games as New Orleans tried to protect its asset, which derailed any ambitions with which the Pelicans began the season. They went 12-24 in those 36 games to fall into the lottery – and land the No. 1 pick. But that didn’t concern Davis. He got what he wanted. The Pelicans got what they could. 3. Right package at right time for Pelicans There’s a time-value to money and there’s a time-value in trades, too. The best time for Griffin to deal was now, with the No. 4 pick in this year’s Draft in play to team with the No. 1 pick that presumably will be on Duke’s Zion Williamson. Landing that, along with two more first-round picks from the Lakers, a Draft pick swap, and players Brandon Ingram, Lonzo Ball and Josh Hart (per ESPN’s report), shifts New Orleans into full rebuild mode with an exciting core of current and maybe future young players. Could Griffin have gotten more had he waited deeper into the offseason or heading toward the in-season trade deadline? Perhaps. But Boston, the other oft-purported suitor for Davis, no longer could count on teaming Davis with Kyrie Irving, who will explore free agency (and likely leave). Besides, the Celtics never did want to part with Jayson Tatum, so what they could offer the Pelicans was limited. Didn’t matter, anyway. Griffin didn’t want to drag this into a new season. In fact, he might work the phones to find point guard Jrue Holiday’s market value. As strong as Holiday is as a leader and two-way player, at 29 with 10 seasons in, he’s out of sync with the new era in N’Awlins. 4. Griffin should have held out for Kyle Kuzma OK, the Lakers had committed publicly to keeping Kuzma, the overachieving forward and No. 27 pick in 2017, out of the deal. And as noted above, the Pelicans were on the clock to make a clean break with Davis pre-Draft. But would the Lakers really have scuttled the deal if Griffin had held out for Kuzma? Some say yes, as the time factor gave them leverage. I’m not so sure. I’m reminded of the blockbuster deal that sent Kevin Garnett from Minnesota to Boston in 2008. Word eventually got out that Kevin McHale, the Wolves’ president of basketball operations, had wanted a raw point guard named Rajon Rondo in the package of players Minnesota received. His Celtics’ counterpart and buddy, Danny Ainge, pushed Sebastian Telfair instead. But with Paul Pierce and Ray Allen on board, and Garnett so close to his wearing o’ the green, would Ainge have blown up the trade over young Rondo? Same applies here. So the positive spin on Kuzma staying put is, the Lakers did well to keep him. 5. LeBron gets his greatest sidekick yet That statement might offend a few folks. Dwyane Wade for one. Maybe Irving, Chris Bosh or Kevin Love, too. Heck, Davis might bristle at the idea of being anyone’s “sidekick” after being the man in Mardi Gras to this point in his career. But the truth can’t be controversial, and the success of this deal will be measured in the short-term by how well Davis meshes with James in the superstar’s quest for a fourth ring and beyond. Some believed that agent Rich Paul, who represents both James and Davis, was more concerned with helping the former than the latter, which Paul refuted a few days before news came out on this blockbuster trade. Who’s to say AD wouldn’t have thrived and won sooner in Boston had the Celtics and Pelicans worked out a Kawhi-like rent-a-player price? What if James not only is past his best years, but his most durable ones, and injuries intervene as he heads to age 35 and beyond to stymie title hopes? For James, though, there’s no downside to this. Ingram, because of the blood clot issue that cut short his 2018-19 season, is an unknown for now. Ball isn’t essential with James as a ball dominator. Hart actually backslid in his second season. And James has little or no use for draft picks at this stage of his career. Davis is good enough to carry the bigger load relative to James, more than any of his past Super Friends who all caught him in his extended prime. But it’s still to be determined how they’ll work that out – the two previous elite big men that he played alongside, Bosh and Love, wound up as No. 3 options once they teamed with James. 6. Kemba Walker might be next in Lakers’ sights Walker is a free agent who has served his time in Charlotte, a team that might not want to be locked into a super-max deal for their lone star anyway. He would be a nice backcourt complement to James and Davis, another scorer if not the pure shooter L.A. would seem to need. Speaking of which, that suggests other free-agent implications as the Lakers search for shooters. Say, if not J.J. Redick himself, then the next Redick perhaps. 7. So long Warriors, hello Lakers in 2020 Finals? You’ve got to admit, it would be something to see LeBron James pop up on the Western Conference’s finalist vying for a championship, in what lately has been Golden State’s accustomed spot. That’s what some anticipated for this June, until the Lakers went sideways with injuries and dysfunction. But with ESPN’s report of the Davis trade, a team that already was ranked atop the NBA’s contenders for 2020 saw its odds improve. Caesars Sportsbook put the Lakers as 7-2 favorites, ahead of the Bucks (6-1), the L.A. Clippers (6-1), the newly crowned Raptors (8-1), the Rockets (8-1) and what would be a distinctly different Warriors team (11-1). 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 16th, 2019

DUTERTE TRANSCRIPTS: Netanyahu and Duterte. 03 Sept 2018

(Note from MindaNews: This is the official transcript of President Rodrigo Duterte’s speech, released by the Presidential News Desk of the Presidential Communications Office) Presidential Communications Operations Office Presidential News Desk REMARKS OF ISRAEL PRIME MINISTER BENJAMIN NETANYAHU AND PHILIPPINE PRESIDENT RODRIGO ROA DUTERTE DURING THE SIGNING OF AGREEMENTS Israel Prime Minister Benjamin Netanyahu: Thank […].....»»

Category: newsSource:  mindanewsRelated NewsJun 12th, 2019

Cousins returns from injury, returns to form and delivers win

By Shaun Powell, NBA.com TORONTO — It was the moment the Warriors waited so long to see, and finally it arrived in the nick of time: The still-recovering former All-Star, out of the starting lineup for more than a minute, returning and dismissing the noise about how the team is better without him by impacting the game in multiple ways and pulling the Warriors to victory. And get this: If the Warriors are truly fortunate, Kevin Durant will recover soon and duplicate what DeMarcus Cousins just did. In the NBA Finals. If he does, it could serve a critical blow to Toronto’s chances of pulling off a late-series surprise. “We know what we’re dealing with here,” said Raptors guard Fred VanVleet. Cousins provided the help that the two-time defending champions needed Sunday (Monday, PHL time) to draw even in the series and snatch momentum with a 109-104 victory at Scotiabank Arena. He played more than anyone thought, rebounded more than anyone imagined, defended and scored more than Toronto bargained for, and gave the Warriors what they missed the last 6 1/2 weeks with him on the shelf. The 11 points, 10 rebounds, six assists and two blocked shots from Cousins didn’t fully encapsulate how much relief he brought to the Warriors. He had a galvanizing effect on a team that used an 18-0 run to start the second half to seize control of Game 3 and then used Andre Iguodala’s three-point shot to ice it. They haven’t been in one piece since April 15 (April 16, PHL time), in the first round against the Clippers, when Cousins chased a loose ball, stumbled and grabbed his left leg. The torn quad required no surgery but a lengthy rehab period, and this after Cousins went through a 10-month rehab for a torn Achilles' tendon in the spring of 2018. He was feeling beat up. Cousins attacked the process anyway, determined to return from an injury that normally would mean the end to his postseason, for the simple reason that he hadn’t been to the playoffs in his career to this point. There’s also a matter of free agency awaiting in July; a strong return could improve his bottom line. “Once they told me I have a chance, a slight chance, of being able to return, it basically was up to me and the work I put in,” he said. “So I put the work and the time in and with God’s grace I’m able to be out here and play the game I love.” Cousins was clearly out of rhythm from the layoff in Game 1, his timing rusty, his execution unsure. He played just eight minutes without scoring a basket or drawing much attention from Toronto. But Warriors coach Steve Kerr made the surprise decision to start Cousins three nights later, and that faith was repaid handsomely. Cousins was active, his confidence growing stronger by the minute -- 27 of them, actually, and he only asked to be subbed out once. “We came in thinking he can maybe play 20 minutes,” said Kerr. “He was fantastic and we needed everything he gave out there: his rebounding, his toughness, his physical presence, getting the ball in the paint, and just playing big, like he does. We needed all of that.” What the Warriors hoped was for Cousins to be the best big man on the floor. In Game 1, that honor went to Raptors center Marc Gasol, who uncharacteristically became a prime scoring option for the Raptors with 20 points, most on open jumpers. Cousins didn’t give him that amount of breathing space in Game 2, and Gasol (six points) was never a factor. Cousins' teammates offered rave reviews. Steph Curry: “Obviously you get more comfortable with more minutes and playing aggressive. He puts a lot of pressure on their defense. It’s a big lift for us. More to come.” Draymond Green: “The more he plays, the better feel he gets. He was great on both ends. It allowed us to play through him in the post. Toronto knows. They’ve got to honor that, and we know what he’s capable of doing if they don’t.” Cousins had an amusing reaction to learning he was in the starting lineup — “I was like, ‘Cool’” — and feels as though he has more to give. “When I step on the floor, I’m going to leave it out there,” he said. “I want to be on this stage. This is what I’ve worked for my entire career, to have this opportunity to play for something.” Cousins spent seven years in purgatory in Sacramento, where he racked up losses and technicals. It was a frustrating time for him; he had no faith in the franchise's leadership and it soured his attitude. His trade to the Pelicans two years ago was met with enthusiasm; he teamed with Anthony Davis to form an intimidating front line, but the Achilles’ injury cut short his time on the floor and, ultimately, in New Orleans. The team refused to offer him a contract last summer, leading him to join the Warriors at a discount. So his purpose is to salvage what’s left of the season, capture a ring for his troubles and see what it brings this summer. And then there’s the matter of Durant. The two-time Finals MVP hasn’t been cleared for full-contact practice, and the Warriors will hold only one prior to Game 3. Kerr said it’s “feasible” that Durant could play with only one practice under his belt, yet that’s not the ideal scenario. What Cousins does is buy them more time with Durant. With the series tied 1-1, and the next two games in Oakland, and Cousins apparently rounding into form, there’s a bit less urgency to see Durant on the floor. Yet it appears to be a matter of when, not if, Durant will see action in this series. And it might be at the perfect moment, with Klay Thompson suffering a hamstring injury in the fourth quarter that forced him off the court. The All-Star guard later told Kerr he’s fine and that the hamstring tightness is minor, but his status will be determined by MRI. Given what’s happened so far, the Warriors can never be too careful or take the rosy view when it comes to muscle issues. They’ve established a theme that tells the story of their 2019 postseason, and it’s not one they designed or even wanted, but it fits their existence nonetheless: “recovery” and their ability to do so on all front. It's not just injuries. Even in sweeping Portland, Golden State had to recover from deficits of 17, 18 and 17 points in the Western Conference Finals. Trailing 1-0 in these NBA Finals, they recovered from 12 down to win on the road for a 23rd straight series, an NBA record. What the Warriors reminded everyone at Scotiabank Arena, in case folks forgot, is that they’re champions and bring plenty of know-how to this series, and are fully capable of winning games by any means necessary. “It’s big respect for them,” said Kawhi Leonard. “They have been here each of the last four years, won the last two, and you’ve got to take the challenge. They’re a great team.” But the Warriors would rather put a fully-loaded and healthy squad -- one that is clearly the class of the NBA -- on the court and win with that. This NBA Finals might finally get the Warriors at full strength. If not, they still might be more than the Raptors can handle. Shaun Powell has covered the NBA for more than 25 years. 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 3rd, 2019

Ramon Ang in high spirits as Ginebra doubles Q1 profit

Ginebra San Miguel Inc., the hard liquor unit of San Miguel Food and Beverage Inc., expects its net income to grow to P2.5 billion this year from P1.05 billion in 2018......»»

Category: financeSource:  philstarRelated NewsMay 31st, 2019

NBA names Amadou Gallo Fall president of Basketball Africa League

NBA press release JOHANNESBURG AND NEW YORK – The National Basketball Association (NBA) today named NBA Vice President and Managing Director for Africa, Amadou Gallo Fall as President of the Basketball Africa League (BAL), a new professional league featuring 12 club teams from across Africa scheduled to begin play next year. Fall will assume his role as BAL President immediately while assisting in the transition and search for a new Managing Director of the NBA in Africa. [Watch the Playoffs on NBA League Pass for 30% less with this limited time offer! Select Annual package and use code SAVE30 at checkout to redeem] “Amadou’s efforts to grow basketball and the NBA’s business across Africa have been extraordinary, and he is an ideal choice to lead the Basketball Africa League,” said NBA Deputy Commissioner and Chief Operating Officer Mark Tatum.  “This historic initiative will not only further enhance the game in Africa but also provide new opportunities in media, technology and infrastructure on the continent.” The announcement about the NBA and FIBA’s launch of the BAL, which would mark the NBA’s first collaboration to operate a league outside of North America, was made at the NBA All-Star 2019 Africa Luncheon in Charlotte on Saturday, Feb. 16. Fall, a Senegalese native who joined the NBA in January 2010, helped open the league’s office in Johannesburg, South Africa in May 2010, and has directed the NBA’s grassroots basketball development initiatives and partnerships with marketing, media and consumer product companies in Africa. He has overseen significant growth in the NBA’s business and basketball development efforts in Africa, highlighted by three sold-out NBA Africa Games - in Johannesburg in 2015 and 2017 and in Pretoria in 2018 - in support of charities including UNICEF, the Nelson Mandela Foundation and SOS Children’s Villages South Africa.   Under Fall’s leadership, the NBA has expanded its grassroots and elite development efforts across the continent, including the Jr. NBA, Basketball Without Borders (BWB) Africa and The NBA Academy Africa.  This year, the NBA plans to reach more than 2.5 million boys and girls ages 16 and under through Jr. NBA programs in 21 African countries.  BWB, the NBA and FIBA’s global basketball development and community outreach program, has been held in Africa 16 times, with 10 former BWB Africa campers drafted into the NBA. Fall was instrumental in opening The NBA Academy Africa in May 2017, where 25 elite male prospects ages 14-20 have received scholarships and training after scouting programs conducted with local federations across the continent.  Three NBA Academy Africa graduates have gone on to commit to NCAA Division 1 schools. Fall is a recipient of multiple leadership awards for his contribution to the growth of the game of basketball and youth development on the African continent.  This includes African Leader 4 Change (2017) and the South African Sport Industry’s Leadership in Sport (2018). Fall previously worked for the Dallas Mavericks, starting as a scout in 1998 before ultimately becoming Director of Player Personnel and Vice President of International Affairs, when he served as the team’s international goodwill ambassador and oversaw scouting assignments.  He helped start Basketball Without Borders Africa in 2003 and served as Camp Director until 2010. Fall is also the Founder of SEED (Sports for Education and Economic Development), a global non-profit organization established in 1998 with the mission of using sport as a vehicle to inspire, empower and support the holistic development of promising African youth, preparing them to become global citizens. He is a magna cum laude graduate of the University of the District of Columbia (UDC), where he played center on the basketball team.  Fall was inducted into the UDC Athletics Hall of Fame on February 15, 2019......»»

Category: sportsSource:  abscbnRelated NewsMay 28th, 2019

LT Group& rsquo;s net profit jumps 22% to P4.42b

LT Group& rsquo;s net profit jumps 22% to P4.42b.....»»

Category: financeSource:  thestandardRelated NewsMay 10th, 2019

SM Prime Holdings nets P8.8B in Q1 2019

Southeast Asian property giant SM Prime Holdings grew net profit in the first three months by 16 percent year-on-year to P8.8 billion. The post SM Prime Holdings nets P8.8B in Q1 2019 appeared first o.....»»

Category: newsSource:  philippinetimesRelated NewsMay 7th, 2019

SM Prime Q1 profit grows 16%

SM PRIME Holdings, Inc. delivered a 16% profit increase in the January to March period, as its shopping mall, residential development, and commercial properties continued to see strong growth......»»

Category: newsSource:  bworldonlineRelated NewsMay 6th, 2019

Insurers post record P37 B profit in 2018

The local insurance industry’s total net income rose to a new record high of P37.43 billion in 2018 as all sectors saw an increase in the premiums they generated, according to the Insurance Commission......»»

Category: financeSource:  philstarRelated NewsMay 6th, 2019

SM Prime& rsquo;s profit climbed 16% to P7.6 billion in 1st quarter

SM Prime& rsquo;s profit climbed 16% to P7.6 billion in 1st quarter.....»»

Category: financeSource:  thestandardRelated NewsMay 6th, 2019

Data usage sends Globe s profit soaring by 40% in Q1 2019

MANILA, Philippines – Telecommunications giant  Globe  reported impressive financials for the 1st quarter of 2019, with its core net income jumping by 40% to P6.7 billion, the company announced on Monday, May 6. Globe's revenues also grew by 13% to P36 billion compared to the same quarter in 2018, on ........»»

Category: newsSource:  rapplerRelated NewsMay 6th, 2019

China Bank Q1 profit jumps 24%

Sy family-led China Banking Corp. grew its net profit in the first three months by 24 percent year-on-year to P1.9 billion on higher interest income, fee-based earnings and treasury gains, boosted by.....»»

Category: newsSource:  philippinetimesRelated NewsMay 4th, 2019

AirAsia Philippines swings to net operating loss in 2018

THE PHILIPPINE UNIT of the AirAsia Group Berhad, Philippines AirAsia, Inc., swung to a net operating loss of P2.11 billion in 2018 from a profit of P710 million in 2017 as it was hit by the rise in price of jet fuel and the weakening of the Philippine peso against the US dollar last year......»»

Category: newsSource:  bworldonlineRelated NewsMay 1st, 2019

FIFA to expand World Cup to 48 teams in 2026

GRAHAM DUNBAR, AP Sports Writer br /> ZURICH (AP) — FIFA will expand the World Cup to 48 teams, adding 16 extra nations to the 2026 tournament which is likely to be held in North America. President Gianni Infantino's favored plan — for 16 three-team groups with the top two advancing to a round of 32 — was unanimously approved Tuesday by the FIFA Council. It meets Infantino's election pledge of a bigger World Cup, and should help fund promised raises for FIFA's 211 member federations. With 80 matches instead of 64, FIFA forecasts the equivalent of $1 billion extra income at current rates from broadcasting and sponsor deals, plus ticket sales, compared to $5.5 billion revenue forecast for the 2018 World Cup in Russia. FIFA projects an increased profit of $640 million despite some extra operating costs and prize money for teams. FIFA's six continents should find out by May how many extra places they will each get. UEFA wants 16 European teams at the tournament, which is strongly favored to be played in North America. The CONCACAF region has not hosted the World Cup since the 1994 tournament in the United States. American, Canadian and Mexican soccer leaders have had informal talks about a co-hosting bid. Africa and Asia could be winners in a bigger World Cup with up to nine places each. They had only five and four teams, respectively, at the 2014 World Cup in Brazil. Still, FIFA said it expects the standard of soccer to drop compared to the 32-team format locked in for the next two World Cups in Russia and Qatar. The 'absolute quality' of play, defined by high-ranked teams facing each other most often, is achieved by 32 teams, FIFA acknowledged in a research document sent to members last month. It made 10,000 tournament simulations to reach that conclusion. Instead, Infantino wants to create fervor and months of anticipation back home in the 16 extra nations which would qualify, some probably making their World Cup debut. FIFA has pointed to Costa Rica, Wales and Iceland as examples of teams which overachieved at recent tournaments. FIFA must break with soccer tradition to make its new format work after an original 48-team plan — with an opening playoff round sending 16 'one-and-done' teams home early — was unpopular. Instead, three-team groups will replace the usual groups of four to create simple progress to a knockout bracket. However, it leaves one team idle for final group games and could risk collusion between the other two teams. FIFA said it could guard against result-rigging by introducing penalty shootouts after group games that end in draws. Despite the 16 extra games, FIFA believes the current maximum of stadiums needed will stay at the 12 used by Brazil and Russia. However, the demand for more training bases and hotels means developed countries would be better equipped to win future hosting contests. North America is the strong favorite for 2026 because European and Asian countries are blocked by a FIFA rule excluding continents which hosted either of the two previous tournaments. Russia will host the World Cup next year and Qatar in 2022. South America has been focused on a centenary tournament including original 1930 host Uruguay, and African nations are seen as lacking existing capacity and unlikely to fund multi-billion dollar infrastructure spending. .....»»

Category: sportsSource:  abscbnRelated NewsJan 10th, 2017

FIFA set to approve bigger, richer World Cup on Tuesday

GRAHAM DUNBAR, AP Sports Writer   FIFA is set to make the World Cup bigger and richer, even if the price to pay is lower quality soccer. FIFA President Gianni Infantino hopes his ruling Council will agree Tuesday to expand the 2026 World Cup to 48 nations, playing in 16 groups of three teams. A decision could be delayed if some Council members demand to know exactly how many qualifying places each continent will get before agreeing to scrap the 32-team format. It has been successful, popular and profitable since 1998 and is locked in for the next two World Cups in Russia and Qatar. The prize of 16 extra places, and the biggest increases to Africa and Asia, has 'overwhelming' support from FIFA's 211 member federations, Infantino has said. Their promise of extra funding from Zurich could also be secured by FIFA's forecast 20 percent rise in rights fees paid by broadcasters and sponsors. 'Financially, the 48-team format is the most appealing or successful simply because the sporting element is prevailing and every match is important,' Infantino said two weeks ago. 'The decision should not be financially driven, neither in terms of revenue or costs ... but the driver should really be the development of football and boosting football all over the world.' World Cup champion Germany is not in favor. It argued that diluting the number of European and South American teams — which won all 20 titles since 1930 — could 'strengthen the imbalance' seen at some tournaments. 'The (German soccer federation) fundamentally believe that the current 32-team format is the best option,' its president Reinhard Grindel said last week. Germany has no delegate at Tuesday's meeting though Grindel is set to join the FIFA Council in May. FIFA acknowledged the risk of lower standards in a research document sent to members last month, as first reported by The Associated Press. The 'absolute quality' of soccer, defined by high-ranked teams playing each other most often, is achieved by 32 teams, FIFA said, citing 10,000 tournament simulations made to reach that conclusion. Still, Infantino promised voters more World Cup places and funding raises before his election last February. FIFA expects $5.5 billion income tied to the 2018 World Cup in Russia, though 25 of 34 sponsorship slots are unsold. The research document predicted the equivalent of $6.5 billion revenue from a 48-team tournament in the '16x3' format, which would send two teams from each group to a new Round of 32 knockout bracket. All 80 matches would play in an exclusive time slot. Currently, 64 World Cup matches have 56 broadcast slots because the eight four-team groups play their last matches simultaneously. FIFA predicts organizing costs for '16x3' rising from $2 billion to $2.3 billion, giving a potential profit rise of $640 million. Though a '16x3' World Cup would still need a maximum of 12 stadiums, the demand for 16 more top-quality training camps and hotels suggests FIFA would look for 2026 hosts with existing capacity. A North American bid from two or three of the United States, Canada and Mexico is currently favored in a contest that could start within weeks. Five options are open Tuesday, including staying with 32 teams. Infantino campaigned last year on a 40-team promise, in either eight groups of five teams or 10 groups of four teams. Neither impressed voters in recent regional meetings of FIFA member federations. When the FIFA leader first proposed 48 teams, it included an opening playoff round. The 16 winners would join 16 seeded teams in a traditional 32-team group stage. FIFA members disliked 'one-and-done' teams going home before the 'real' World Cup kicks off. It would also stretch to a 39-day event with more short-notice travel for fans. Africa and Asia could be the big winners, and FIFA hopes new teams would include another Iceland, Wales and Costa Rica — over-achieving teams and feelgood stories at recent tournaments. Still, hapless Tahiti was outclassed at the 2013 Confederations Cup, conceding 24 goals in three games. 'The goal of expanding the FIFA World Cup,' it has told members, 'is to further advance the vision to promote the game of football, protect its integrity and bring the game to all.' ___ Entry quotas for 2018 World Cup: Europe 14 (including host Russia to qualify direct); Africa 5; Asia and South America 4.5 each; North, Central America and Caribbean 3.5; Oceania 0.5. .....»»

Category: sportsSource:  abscbnRelated NewsJan 9th, 2017