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Peso rebounds to P51:$1 level

THE PESO recovered against the dollar on Tuesday to return to the P51 level as market participants took profit ahead of the policy meeting of the US central bank......»»

Category: financeSource:  bworldonlineRelated NewsJun 18th, 2019

Wider trade gap to drain more dollars from PH this year

Theres no end in sight for the Philippines ever-growing trade-related net dollar outflows The post Wider trade gap to drain more dollars from PH this year appeared first on Inquirer Business ......»»

Category: newsSource:  philippinetimesRelated NewsJun 17th, 2019

Analysis: Anthony Davis trade a win-win for both sides

By Tim Reynolds, Associated Press The saga is over. When this trade is done, everybody can say they won. The Lakers, the Pelicans, Rich Paul, LeBron James, they all can take a victory lap. The trade that will be official in the coming weeks sending Anthony Davis from the New Orleans Pelicans to the Los Angeles Lakers for Brandon Ingram, Lonzo Ball, Josh Hart and three first-round draft picks — first reported by ESPN, later confirmed to The Associated Press by several people with knowledge of the matter — is perfect for both sides. James gets the superstar teammate he wanted. Paul, the agent James and Davis share, pulls off a power move. The Lakers instantly become major players in a suddenly open Western Conference. Davis finally gets his wish to leave New Orleans. The Pelicans don’t begin Zion Williamson’s era with a disgruntled superstar in the locker room. They load up on young players and have tons of draft chips to play around with. For the Pelicans, it’s a new beginning. For the Lakers, it’s about winning now. Draft picks, including No. 4 in this year’s class, smartly were not overvalued by the Lakers — a team with a superstar who is turning 35 in December and should be doing anything necessary to help him win a fourth championship before his window closes. The Lakers have tons of money to spend starting June 30 and the sales pitch to Kemba Walker, Kyrie Irving or anyone else changes mightily after this move. Before Saturday (Sunday, PHL time) it would have been Lakers general manager Rob Pelinka saying, “We’re trying to get Anthony Davis.” Now it’ll be Pelinka saying, “We’ve got Davis, we’ve got LeBron and they want you with them.” That’ll be a tough offer for anyone to ignore. James is going to get another Big Three out of this: It was Dwyane Wade, Chris Bosh and him in Miami; Kevin Love, Irving and him in Cleveland; Davis, him and TBA with the Lakers. Clearly, the focus will be on a guard, which is why the rumor mill will be all about either Walker or Irving going to Los Angeles in free agency. The offseason is already in high gear. Hard to believe it really just got started. This deal got agreed to before the newly crowned NBA champion Toronto Raptors — this is true — hoisted the Larry O’Brien Trophy on Canadian soil for the first time. They won Thursday night at Oracle Arena to end Golden State’s reign, then stopped for a party in Las Vegas before the parade in Toronto on Monday (Tuesday, PHL time). Not even 48 hours after they popped corks, the Lakers were starting their own celebration. Williamson will get drafted No. 1 overall on Thursday night (Friday, PHL time), and he’ll go to New Orleans in the awkward spot of being an 18-year-old (he doesn’t turn 19 until July 6) with a franchise on his shoulders. The Lakers will still be drafting No. 4 overall, though they’ll be doing so on New Orleans’ behalf because the trade cannot be consummated beforehand. The Pelicans need a center, and will likely look at the trade market. The Pelicans have to watch an incredible player, one of the league’s very best, leave. But David Griffin — the man tasked with rebuilding the Pelicans — clearly had concluded that there was no way of convincing Davis to not leave as a free agent next summer anyway. Had Griffin waited to make a deal in-season, there’s almost no way he could have pulled off this kind of haul in return. The longer he waited, the less the value. So they push the reset button and move on, which was the most prudent play. Let the ripple effects begin. The Warriors not only have to figure out what to do if Kevin Durant leaves, but how to contend next year without the Achilles-rehabbing Durant and the ACL-rehabbing Klay Thompson (for at least much of the season). Other contenders in the West — Houston, Denver, Portland — will be viewing the Warriors’ woes as opportunity, so they’ll be looking at ways to get better as well. And Boston will be dealing with the reality that not only are its hopes of landing Davis gone, but that Irving is likely leaving as well. There will be countless big moves in the coming weeks. The Lakers, who have missed the playoffs in the last six seasons and have been stuck in dysfunction mode for the last couple months following the resignation of Magic Johnson and soap opera that followed, got the first one of the offseason to go their way. Welcome to summer. Game on. ___ Tim Reynolds is a national basketball writer for The Associated Press. Write to him at treynolds@ap.org.....»»

Category: sportsSource:  abscbnRelated NewsJun 16th, 2019

PH dollar reserves rise to 31-month high in May

THE country’s gross international reserves (GIR), or dollar reserves, rose to a 31-month high of $85.022 billion (P4.42 trillion) last month on the back of the government’s foreign-currency deposits, the…READ The post PH dollar reserves rise to 31-month high in May appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 8th, 2019

PHL dollar reserves climb for 7th straight month

GROSS international reserves (GIR) climbed for the seventh straight month in May, the central bank said on Friday......»»

Category: financeSource:  bworldonlineRelated NewsJun 7th, 2019

Philippine dollar reserves rise in May

The Philippines’ dollar reserves climbed for the seventh consecutive month in May, the Bangko Sentral ng Pilipinas reported Friday......»»

Category: newsSource:  philstarRelated NewsJun 7th, 2019

Five things we learned from Game 3 of the 2019 Finals

By Steve Aschburner, NBA.com OAKLAND – Five things we learned from the Toronto Raptors’ 123-109 victory over the Golden State Warriors in Game 3 of the 2019 Finals Wednesday (Thursday, PHL time) at Oracle Arena: 1. What Stephen Curry learned … Curry was remarkable in Game 3, consciously seizing more of Golden State’s offensive burden to make up for Klay Thompson’s and Kevin Durant’s absences and turning that desperation into something historic. With 47 points, eight rebounds and seven assists, the Warriors point guard became only the ninth man to score at least 45 points in a Finals game. The lesson in that? Curry learned for a night what it has felt like for LeBron James on many such occasions. James put himself on that specific list a year ago when he logged 51 points, eight board and eight assists against Curry’s team in Game 1, same court. Like Curry, James’ team lost that night as well. Struggling mightily in something of a one-against-five predicament is the sort of things James has done often, while Curry never had faced it during Golden State’s five-year run to The Finals. They both -- James in the past and Curry on Wednesday (Thursday, PHL time) -- had legit NBA players around them. But the responsibility to put up points fell in both cases mostly on their shoulders. This was even a chance to revisit the 2015 Finals MVP selection, which attracted some attention on social media Tuesday (Wednesday, PHL time) over bogus speculation about the voting process. Andre Iguodala won the award that June, getting seven votes from the panel of media reps to James’ four. Curry got no votes. The point was, Curry had as a single game Wednesday (Thursday, PHL time) what James had as an entire series in ’15. He averaged 35.8 points, 13.3 rebounds and 8.8 assists, scoring 38.5 percent of Cleveland’s points (215-of-561) while assisting on 52.7 percent of his teammates’ baskets while he was on the court. Now Curry is the guy in position, if Golden State loses the series, to get a few MVP votes in a losing effort. By the way, Jerry West is the only player to win the Finals MVP trophy in a losing effort. And West is one of the nine to score 45 or more – he did it three times, but his Lakers teams went 1-2 in those games. (The others: Michael Jordan three times, Bob Pettit, Elgin Baylor, Rick Barry, Wilt Chamberlain and Allen Iverson once each. Their teams all won on their big scoring nights.) 2. Is the scoreboard broken? It’s tempting to say that the Warriors’ attack is in broken-record mode, except the resurgence of vinyl might not be sufficient yet to bring that phrase back into the mainstream. So we’ll go with a cultural reference that’s more classic than archaic. Think of The Beatles’ “Revolution 9,” but substitute “109… 109… 109…” Yeah, it’s been about as monotonous and unsatisfying for Golden State as it was on the White Album. At least Warriors coach Steve Kerr was somewhat bemused by his team’s scoreboard consistency. In each game of these Finals, Golden State has scored 109 points. “I just knew we were going to score 109 points because that’s all we’re going to do the rest of this series,” Kerr said. “So if we’re going to keep scoring 109, we got to keep them to 108.” The Warriors kept Toronto to 104 points in Game 2. Some of that was to their credit, some to the Raptors’ misfires and mid-game chill. The simplest stat? Toronto launched 38 three-pointers in both games. The night the Raptors made 11, they lost. When they made 17, they won. Getting Thompson back for Game 4 could make a big difference there. He is one of Golden State’s best defenders. For that matter, Durant’s length could assert itself as a defensive weapon, too, if he comes back later in the series. As for 109 being a winning points total, here is some background: taken in isolation, averaged over a full Finals, that would have been plenty to win 19 of the past 20 championships. The lone exception? In 2017, when Cleveland averaged 114.8 ppg yet lost because Golden State was putting up 121.6 nightly. In 2018, the Warriors averaged 116 points to the Cavaliers’ 101. The only other times a Finals team in the past 20 years averaged within five points of 109 were the Spurs in 2015 (105.6) and in 2007 (104.4) and the Lakers in 2002 (106.0) and 2000 (104.8). Obviously, a few of those were in the game’s relative “dark ages” for use of the 3-ball, but all four won championships. The Warriors are scoring enough points to win. 3. ‘Boogie’ fever has broken   DeMarcus Cousins called his decision to sign with Golden State for a cut-rate contract, while rehabbing from an Achilles injury, his “chess move.” He wound up joining the defending champions and favorite to three-peat, and got his game back in time to contribute. Cousins subsequently suffered a quadriceps injury but returned in time to participate in The Finals. Only thing is, he looked like he was back playing checkers in Game 3. The Warriors center stood out Sunday (Monday, PHL time), scoring 11 points with 10 rebounds, six assists and two blocks. But those numbers drooped to four points, three boards, three turnovers and 1-for-7 shooting in Game 3. Cousins went from plus-12 impact in Game 2 to minus-12 Wednesday (Thursday, PHL time). The big man looked a step slow and appeared to be bothered by Toronto’s length, in the forms of Marc Gasol, Pascal Siakam and Serge Ibaka. With little lift these days, he’s playing a little smaller than his 6'11", 270-pound specs. And given how long he was off and the mere eight minutes he got in Game 1, what Cousins did in Game 2 was starting to look more adrenaline-fueled than a reliable return to form. Since Curry handled just about everything else for Golden State in Game 3, he was asked afterward about Cousins’ “regression.” The point guard handled the awkward moment well -- being asked a critical question about a teammate might have tempted Curry to blow it off or lie. Instead, he talked of the Warriors’ shared responsibility on defense and noted a few calls offensively that didn't go Cousins' way. Then Curry added: “Like any great player, if you have a rough game, that resiliency to bounce back and the confidence to know that you can still go out there and impact the game, that’s something that he’ll bring, and we all will follow suit for sure.” 4. Danny Green’s big moment Understandably, when an All-Star and potential Kia MVP candidate gets traded, the deal becomes all about him. Next, folks focus on the key player or players swapped out and how the move might work for the other team. Only then do we play much attention to the guy or guys accompanying the All-Star to his new destination. That’s how it’s been for Danny Green for much of the 2018-19 season. Green and Kawhi Leonard were teammates in San Antonio for seven seasons. They went to two Finals together with the Spurs, winning rings in 2014. But when Leonard wanted out after an injured and rancorous 2017-18, the deal the Spurs put together with Toronto shipped out Danny Green, too. The reality of NBA trades is that salaries must match up, so teammates often become collateral damage to even up the dollar sufficiently to satisfy league rules. Sometimes, a teammate is thrown into a deal because he and the star are chums. A familiar face gives the featured guy some comfort -- or someone to carry his bags. But Green was a helpful playoff performer in his own right with the Spurs -- in his 12 Finals games before this year, he had made 52 percent of his three-pointers. And in 2013 he made 27 of them against the Miami Heat, a Finals record that was his for all of three years until Curry drained 32 in 2016. Green struggled with his shot in the Eastern Conference finals against the Milwaukee Bucks, going 4-for-23 on three-pointers. But his marksmanship early in Game 3 and against near the end of the third quarter propelled the Raptors’ victory. 5. Those rebounds are offensive   Toronto dominated on the offensive glass 15-6 in Game 2 and lost. Golden State dominated on the offensive glass 13-5 in Game 3 and lost. Typically, that’s a positive category for the team that wins it, something coaches hate when the other guys are reclaiming their own misses time and again. But lately, the demerits associated with offensive rebounds have loomed larger than the benefits. You grab a shot you or your teammate missed, that ought to be a good thing. But the Raptors in Game 2 (37.2 percent) and the Warriors in Game 3 (39.6 percent) were beset by inaccuracy, so there were more offensive rebounds to be had, period. The other down side of a generally positive stat is how you go about getting them. If you get overeager and the defense controls the errant shot, you might denude your transition defense. Both the Raptors and the Warriors in Games 2 and 3 respectively built considerable edges in second-chance points off their offensive rebound totals. Toronto had a 23-0 scoring advantage Sunday (Monday, PHL time), yet lost by five. Golden State held it 23-12 Wednesday, yet lost by 14. The losing team in both cases slightly won the battle of fast-break points, but offensive-rebounding strategy still forces a choice on teams. “We have a general kind of rule of thumb that once a shot goes up, we tell our guys to make a really quick, good decision,” Raptors coach Nick Nurse said before Game 3. “Either they're going hard to the offensive rebound or they're going hard to defense transition. … There's certain moments of the game – I mean, some of those late are almost scrambles, right, you're behind five and you're throwing it up there and everybody's trying to rebound, just to keep the game alive as well.” It’s a stat worth watching, even if it’s inversely related lately to the games’ outcomes. Sing it loud, sing it proud ???????? #WeTheNorth pic.twitter.com/8HfjoM9Cht — Toronto Raptors (@Raptors) June 6, 2019 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 7th, 2019

USD May Rise as Singapore Dollar Falls, Philippine Peso Eyes CPI

The US Dollar may benefit from haven demand against the backdrop of trade war fears, gaining against the Singapore Dollar and Malaysian Ringgit. The Philippine Peso eyes local CPI data......»»

Category: newsSource:  manilanewsRelated NewsJun 3rd, 2019

Dollar beware- Serbia & Philippines join global gold hunt - RT

Dollar beware: Serbia & Philippines join global gold hunt RT Two more nations, Serbia and the Philippines, have boosted their national gold reserves. They follow a global trend of other central banks.....»»

Category: newsSource:  manilanewsRelated NewsJun 2nd, 2019

Dollar beware- Serbia & Philippines join global gold hunt RT Business News

Dollar beware: Serbia & Philippines join global gold hunt RT Two more nations, Serbia and the Philippines, have boosted their national gold reserves. They follow a global trend of other central banks.....»»

Category: newsSource:  manilanewsRelated NewsMay 31st, 2019

Peso seen weakening to P54:$1 by yearend

THE government’s infrastructure push in the second half of 2019 could lead to the peso closing weaker against the dollar by yearend, according to HSBC Private Banking. “We expect USD-PHP…READ The post Peso seen weakening to P54:$1 by yearend appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMay 29th, 2019

IT-BPM sector grows, short of program

THE INFORMATION TECHNOLOGY and business process management (IT-BPM) sector, the country’s chief dollar earner aside from overseas Filipino worker remittances and also a key driver of property development, saw “signs of recovery last year” even as revenue growth fell short of target, the IT & Business Process Outsourcing Association of the Philippines (IBPAP) said in a statement last weekend......»»

Category: financeSource:  bworldonlineRelated NewsMay 26th, 2019

EM ASIA FX-Thai baht weakens; Philippine peso, yuan gain

EM ASIA FX-Thai baht weakens; Philippine peso, yuan gain Reuters The following table shows rates for Asian currencies against the dollar at 0140 GMT. CURRENCIES VS U.S. DOLLAR Japan yen 110.170 110.0.....»»

Category: newsSource:  manilanewsRelated NewsMay 21st, 2019

Philippines now in longest dollar inflow winning streak since 2013

MANILA, Philippines – Net dollar inflows into the Philippine economy surged to their highest level in almost six years due to a trifecta of substantial remittances from overseas Filipino workers, and a surge of both short- and long-term investments into the country. More importantly, the strong performance of the country’s balance of payments (BOP) — […] The post Philippines now in longest dollar inflow winning streak since 2013 appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsMay 20th, 2019

P.28-M fake money seized in Pasay casino

Fake dollar bills worth P287,700 were confiscated from three men – a Filipino, a Chinese and a Korean – at a casino in Pasay City on Wednesday night......»»

Category: newsSource:  philstarRelated NewsMay 16th, 2019

Peso rebounds vs dollar

THE PESO recovered against the dollar yesterday following the upbeat statement of US President Donald J. Trump on its trade negotiations with China that slightly boosted the risk appetite of investors......»»

Category: newsSource:  bworldonlineRelated NewsMay 15th, 2019

Peso at one-month low on US-China trade war

THE PESO plunged to a one-month low against the dollar on Tuesday due to China’s retaliation against the United States’ imposition of increased tariffs on Chinese goods......»»

Category: newsSource:  bworldonlineRelated NewsMay 14th, 2019

Blushes over 50-dollar note

Blushes over 50-dollar note.....»»

Category: newsSource:  thestandardRelated NewsMay 9th, 2019

Dollar reserves hit $84B in April

THE country’s dollar reserves rose to a 30-month high of $83.955 billion in April on the back of the Bangko Sentral ng Pilipinas’ (BSP) foreign exchange operations and investment income…READ The post Dollar reserves hit $84B in April appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMay 7th, 2019

Ex-Goldman banker pleads not guilty on 1MDB charges in U.S. court

NEW YORK, USA – A former Goldman Sachs banker pleaded not guilty on Monday, May 6, in New York to bribery and other charges in the multi-billion-dollar 1MDB scandal after being extradited from Malaysia. Malaysian Ng Chong Hwa, 51, a former managing director at the bank charged in both Malaysia ........»»

Category: newsSource:  rapplerRelated NewsMay 7th, 2019