Advertisements


World Bank head says trade tensions could worsen poverty

Managing Director of International Monetary Fund (IMF) Christine Lagarde talks during a press conference ahead of the annual meetings of the IMF and World Bank in Bali, Indonesia on Thursday, Oct......»»

Category: newsSource: philippinetimes philippinetimesOct 11th, 2018

Global trade and the Philippine economy

Much talk has been made recently about rising trade tensions putting a hamper on global economic growth among businessmen and financial experts. Releasing a report in July, the World Trade Organization (WTO) recognized the international economic threats posed by trade restrictions among the G20, an international forum for the governments and central bank governors from […].....»»

Category: financeSource:  bworldonlineRelated NewsNov 28th, 2018

IMF-WB calls to brace for risks

NUSA DUA, Indonesia — Global financial leaders wrapped up an annual meeting of the International Monetary Fund and World Bank on Saturday by urging countries to brace for potential risks from trade disputes and other tensions. The meetings in Bali, Indonesia, this week were overshadowed by a spate of financial market turmoil and by the […].....»»

Category: newsSource:  tribuneRelated NewsOct 13th, 2018

HOF preview: Moss went deep to ignite Vikes, transform NFL

By Dave Campbell, Associated Press MINNEAPOLIS (AP) — The ball was flying down the field often for Minnesota during that drizzly night in Green Bay, and Randy Moss kept going over and past the defense to get it. Five games into his NFL career, Moss was a star. He was a revolutionary, too. There was no moment that better defined his arrival as the league's premier deep threat than that breakout prime-time performance against the two-time reigning NFC champion and bitter rival Packers. "Seeing Randall Cunningham smile, seeing him energetic," Moss said, reflecting on his five-catch, 190-yard, two-touchdown connection with Cunningham that carried the Vikings to a 37-24 victory. "It was just a great feeling." When the Vikings landed in Minnesota, his half-brother, Eric Moss, who was briefly his teammate, wondered about celebrating the big win. "I said, 'Going out? No, I want to go home,'" Moss said. Then defensive tackle John Randle tapped him on the shoulder. "Man, we're going to party tonight!" Moss said, recalling Randle's pronouncement to the rookie. "That's when I finally understood what it really meant to the guys for us to go into Lambeau and win." Twenty years later, with Moss set to enter the Pro Football Hall of Fame this weekend after being elected in his first year of eligibility, the swift, sleek and sometimes-sassy wide receiver has finally understood the depth of his impact on the game and the privilege of opportunity to serve as a celebrant of the sport. "I came into the league with, I guess, my head not really screwed on my shoulders properly," Moss said recently on a conference call with reporters. Over time, the "homebody-type guy" from tiny Rand, West Virginia, who ranks second in NFL history in touchdown receptions (156) and fourth in receiving yards (15,292), learned how to soften some of the edges he's carried since he was a kid. "I've been able to open myself up and meet more people, be able to travel the world," said Moss, who's in his third season as an ESPN analyst. "Football here in America is a very powerful sport, and just being in that gold jacket, hopefully I can just be able to continue to reach people and continue to do great things." Moss will become the 14th inductee from the Vikings, joining former teammates Cris Carter, Chris Doleman, Randall McDaniel and Randle. He'll be the 27th wide receiver enshrined at the museum in Canton, Ohio. That's a three-hour drive from his hometown, but it's sure a long way from poverty-ridden Rand where Moss and his sports-loving friends played football as frequently as they could in the heart of coal country next to the Allegheny Mountains just south of the capital city, Charleston. "It was something that just felt good. I loved to compete. I just loved going out there just doing what kids do, just getting dirty," Moss said. He landed at Marshall University after some off-the-field trouble kept him out of Florida State and Notre Dame, and he took the Thundering Herd to what was then the NCAA Division I-AA national championship in 1996. Several NFL teams remained wary of his past, but Vikings head coach Dennis Green didn't flinch when Moss was still on the board in the 1998 draft with the 21st overall pick. Moss never forgot the teams that passed on him, with especially punishing performances against Dallas, Detroit and Green Bay. "I just carried a certain chip on my shoulder because the way I grew up playing was just basically having a tough mentality," Moss said. "Crying, hurting, in pain? So what? Get up, and let's go." The Vikings finished 15-1 in 1998, infamously missing the Super Bowl by a field goal. The next draft, the Packers took cornerbacks with their first three picks. Moss never escaped his reputation as a moody player whose behavior and effort were often questioned. That led to his first departure from Minnesota, via trade to Oakland in 2005. The Raiders dealt him to New England in 2007, when the Patriots became the first 16-0 team before losing in the Super Bowl, to the New York Giants. After a rocky 2010 for Moss, including being traded by the Patriots and released by the Vikings, he took a year off. He returned in 2012 to reach one more Super Bowl with the San Francisco 49ers. Moss was not a particularly physical player, but for his lanky frame he had plenty of strength. His combination of height and speed was exceptional, and his instincts for the game were too. Carter taught him how to watch the video board at the Metrodome to find the ball in the air, and he had a knack for keeping his hands close enough to his body that if the defensive back in coverage had his back to the quarterback he couldn't tell when the ball was about to arrive. In an NFL Films clip that captured a sideline conversation between him and Cunningham during one game, Moss yelled, "Throw it up above his head! They can't jump with me! Golly!" For Vikings wide receiver Adam Thielen, who has lived his entire life in Minnesota, was a sports-loving 8-year-old in 1998 when Moss helped lead the Vikings to what was then the NFL season scoring record with 556 points. The first team to break it was New England in 2007 with, again, Moss as the premier pass-catcher who set the all-time record that year with 23 touchdown catches. "It's fun to look back at his career and watch his old film. I love when that stuff pops up on Instagram, to be able to watch some of those old Randy plays that made me want to play this game," Thielen said. "I try to emulate him as much as I can.".....»»

Category: sportsSource:  abscbnRelated NewsJul 31st, 2018

Jordan s weight reaches farther than court in NC

By Steve Aschburner, NBA.com CHARLOTTE -- Unlike Mark Cuban and James Dolan, the host of the 2019 NBA All-Star Game was voted in 14 times to participate and played in 13. Quite different from Micky Arison and Glen Taylor, the team owner whose arena and city will be the center of All-Star 2019 averaged 20.2 points in those 13 All-Star appearances, was named MVP three times and posted the first triple-double in the game’s history (1997). And not at all like Steve Ballmer and Joe Lacob, the guy most often credited with making Charlotte All-Star worthy this weekend ignited the annual Slam Dunk Contest with his takeoff from the foul line in 1988. He also regularly irritated former NBA commissioner David Stern into a series of fines for golfing when he should have been sitting through mandatory Friday media sessions. With a level of celebrity as arguably the game’s greatest player ever, morphed now into an off-radar role as owner of the Charlotte Hornets, Michael Jordan remains as famous, as popular and as successful as any or all the active All-Star participants who’ll cavort at the Spectrum Center in the city’s Uptown business district. Ain’t no other NBA owner who can say that. “You think about all these wealthy, successful owners in our league,” said Hornets president Fred Whitfield, “no one knew who any of them were, really, until they bought their team. Everybody in the world knew who Michael Jordan was before he bought his team.” Jordan’s place in the All-Star galaxy in the coming days is reflective of his unique position among those who oversee the NBA’s 29 other franchises. His impact on the team, on its fans, on their city and on the state in returning to his native North Carolina -- he grew up in coastal Wilmington before attending college in Chapel Hill -- to anchor and lend stability to the Hornets will be on full display, even if he’s hard to spot this weekend. It’s all a reminder, too, of the old movie line from a remarkably blessed character, wondering “What do you do when your real life exceeds your dreams?” Most don’t dare to imagine playing in an All-Star Game, never mind hosting one as the owner of the local team. “No,” Jordan told some Charlotte reporters Tuesday (Wednesday, PHL time), coming forward for one of his few appearances of the week. “As a kid growing up here in North Carolina, the first thing [was] playing basketball. And then things evolved from there -- from the University of North Carolina to Chicago. Obviously you know the history from that. “[The] opportunity to represent North Carolina in an All-Star Game from a different seat is truly amazing. It tells the path that I have taken. It gives me great pleasure to give that back to the community. It’s been a long-traveled road.” The celebration of the league’s brightest stars, and the ubiquitous banners and signage devoted to it will make it even harder than usual to visibly spot signs of Jordan’s ownership of the Hornets. For a typical regular season game, you might spy a flag emblazoned with his well-known “Jumpman” logo. Occasionally he’ll watch part of the game, rarely all, from seats at the end of his team’s bench, though he’s as likely to retreat to his suite atop the arena’s lower bowl. An in-game, timeout scoreboard video meant to stoke the crowd includes shots of GM Mitch Kupchak (“Architect of Champions”) and coach James Borrego (“Elite Pedigree”) but ends right about the time you expect some dramatic silhouette of His Airness to appear. It’s as if Jordan is as protective of his brand in running the Hornets as he is in maintaining its exclusivity in the marketplace. Doesn’t matter, though. His fingerprints are all over the franchise, as a basketball team, as a business enterprise and as a member of the community. On court, Jordan trusts his team Jordan’s greatest notoriety as an owner in a basketball setting may have come in December, when he was courtside for a tense game against Detroit. Guard Jeremy Lamb drained a 22-foot jumper with 0.3 seconds left, sending reserves Malik Monk and Bismack Biyombo onto the floor in celebration of what would be a 108-107 home victory. Trouble was, that sliver of time on the clock. Too many men. The Hornets were whistled for a one-shot technical foul and Jordan impulsively smacked Monk lightly, twice, on the back of the head. Any other owner does that, the player’s agent might file a grievance with the players union. Jordan does it and, thanks to his in-the-trenches, in-the-fraternity credibility, it comes across as a goof. “A tap of endearment,” Jordan called it later in a statement. “It was like a big brother and little brother tap. No negative intent. Only love!" Said Monk: “Big, big, big brother. But it was nothing. He was just playing.” The arc of Jordan’s career and his reputation as a stone-cold competitor make it OK if he wants to vent -- or swipe -- when things don’t go the Hornets’ way. Doesn’t matter that Jordan, who will turn 56 on All-Star Sunday, is old enough to be any of his players' dad. He still carries himself like an athlete, and their frame of reference remains, “That’s Mike.” “I’ve seen kids come up through camps,” said Buzz Peterson, Charlotte’s assistant general manager under Kupchak. “You could say Julius Erving, you could say Larry Johnson, Karl Malone, whatever, and the kids’ eyes are like, ‘Who?’ But you say Michael Jordan, they’re gonna know. That’s the separation there.” Peterson is among Jordan’s closest friends -- he beat him out as North Carolina’s prep player of the year in 1981, won an NCAA title with him as a Tar Heels teammate and is described by those who know both as someone who can disagree with the boss while staying comfortably in the inner circle. For Borrego, Charlotte’s first-year coach, interviewing to run Jordan’s team could have been intimidating. “We’re all human beings -- there’s a presence that comes with ‘Michael Jordan’ when he’s around,” Borrego told NBA.com in January. “But it’s healthy. He comes with a competitive spirit that you feel. “Michael was straight with me from Day 1. When I interviewed, he said, ‘I’m going to give you space to do your job. Whatever you need, you come to me. I’ll give you the resources you need.’ He has not tried to interfere one time. I feel his full support. … We’re starting to speak each other’s language, which is pretty healthy for us now.” Jordan keeps the coach apprised of his interactions with players, Borrego said. Other coaches should have such a resource at the ready. Hornets guard and 2019 All-Star starter Kemba Walker probably has benefited most from Jordan’s counsel. They text frequently, a pinch-me arrangement to this day for Walker. “I grew up wearing Jordans, grew up wanting to be like Jordan,” Walker said recently. “So for me to get this opportunity to be on his team means the world to me. He’s the one who believed in me -- I had no idea where I was going to go on draft night and he traded up for me. I’ve always heard the story, he was the one who actually drafted me. So it’s unbelievable. “He’s such a good dude. He understands what it is to be good. His delivery is always good. Only in a positive way, honestly.” Said rookie wing Miles Bridges: “You think there’ll be a lot of pressure having MJ as an owner. I’d seen how he got on his teammates when he played. So I was nervous, thinking if I had a bad game, he’d go at me like, ‘What’re you doing?’ But after meeting him and bonding with him, I feel like he’s the coolest owner out there. I don’t feel any pressure, I feel like he wants the best for us.” Big man Frank Kaminsky typically sits at the end of the bench, which puts him cheek to cheek with Jordan when he’s courtside. “He’s talking about what he’s seeing out on the court. Talking to the refs,” Kaminsky said. “Things other players don’t necessarily see. He still thinks the game. “You see things on the court that he sees. One game, the roll, pocket-pass, skip to the corner was open. He was saying that. We made an adjustment in a timeout, but he saw it a couple plays before that. At the end of that game, we had a big play that was a roll, pocket-pass, into the corner that put the game away. It worked the way he’d seen it.” The Hornets’ struggles during Jordan’s tenure as owner wouldn’t suggest it -- the last time this organization won a playoff series (2002), Jordan still was a player -- but there is a prestige to playing for his team. It’s not unlike being welcomed onto the list of elite athletes who endorse Jordan Brand. “I’m one of the lucky ones who’s in both,” Kaminsky said. “You’re talking about the most iconic player in sports history -- I might be biased because I grew up in Chicago -- but when you have his approval, it means a lot. You have it in the back of your mind that he wants you here.” Head smack or no head smack. Jordan grows as owner, businessman Basketball is a zero-sum game and the NBA is full of stars, even if none shines quite as brightly as Jordan. But business has room for negotiation and compromise, and deals get struck daily that leave both sides happy. There, Jordan has been beyond clutch. Funnel down everything he’s accomplished -- six NBA championships, the league’s highest career scoring average (30.1), five MVP awards, six Finals MVP, 10 scoring titles, nine All-Defensive team nods -- and it invariably ends with clammy hands. The “wow” factor is real and the Hornets are extremely careful about leveraging it. “It gives our organization a certain cachet,” said Whitfield, another longtime friend who goes back more than 35 years with Jordan. “For him to be majority owner, for him to do it in his home state as a local hometown hero, and to be able to come back and not just lead the team and the rebranding from the Bobcats to the Hornets, but his commitment to the community in giving back, it’s something that’s so special.” That’s a lot to unpack. When Jordan initially signed on with the Hornets, he did so as head of its basketball operations in 2006, purchasing a small minority stake in the team. The team was bad, the business was worse and trending down. “Back in ’08-09, the economy was in the tank and I was mandated to ‘displace’ 42 of our executives here on the business side,” Whitfield said. “When Michael bought the team, we were losing $30 million a year.’ Brought back into the league in 2004 two years after the original Hornets (1988-2002) were moved to New Orleans by reviled owner George Shinn, the Charlotte expansion team was owned -- and nicknamed -- by Bob Johnson, a co-founder of the BET television network. The Bobcats excelled only at losing and were 122 games under .500 in their first five seasons. The front office was understaffed, Spectrum Center (then known as Time Warner Cable Arena) needed renovations almost from its inception and there was a real sense that, if a buyer with deep pockets and a commitment to the area weren’t found, the franchise could be moved. In March 2010, Jordan ponied up the cash to become majority owner. But it says something that the deal stands as one of the few, if ever, instances of an NBA franchise being sold at a discount. Johnson paid $300 million for the team; Jordan purchased it for $275 million. Forbes.com recently had Charlotte worth $1.25 billion -- which ranks 28th. And Jordan reportedly has one of the biggest stakes of all NBA owners, with his share estimated at upwards of 90 percent, possibly as high as 98 percent. That’s a lot of success in nine years, despite the basketball team’s mostly middling performance. “With MJ being with the team, you got instant credibility in the marketplace,” said Pete Guelli, the chief operating officer who started on the job about 10 months before Jordan took ownership. “There had been a lot of uncertainty previously, but with his brand and his resources and his commitment, that just dissipated immediately. It was much, much easier to walk in the door and tell people about our vision for this franchise.” Rebranding the team as “Hornets” gave the franchise an existential boost -- it suddenly had a history again, complete with records, archives and true alumni. The arena got a makeover and, per Guelli, is credited for events there that generate an alleged $1 billion in revenues for local businesses. “Fortunately, we’ve been profitable pretty much since [Jordan took over],” Whitfield said. “That’s huge, especially since we haven’t gotten where we want to be on the basketball side.” Closing a new kind of game now It’s hard to overstate Jordan’s added value, not so much as some corporate or financial whiz but as a presence who brought instant motivation and energy to the staff. He imported executives with whom he had developed relationships at Nike or in other ventures and, after taking early criticism for an uncertain level of involvement, has been more diligent in recent years. “I love seeing him sitting at the end of the bench encouraging his players when he attends a game” said Charles F. Bowman, Bank of America’s market president for Charlotte and North Carolina. “And as a business person what impresses me is that he has empowered his management team to focus not only on the court but also on building bridges with the community. “He had a vision for where he was taking the team and a clear plan to get there. He has hired good people, gives them latitude to make decisions and he expects them to perform. Michael is unique -- the best player ever who is determined to keep getting better year over year as an owner.” The NBA has gotten a taste of Jordan’s growth and transition at some pivotal times. This is the legendary voice of the players who, during rancorous negotiations in the 1998 lockout, countered Washington owner Abe Pollin’s gripes about losing money by telling Pollin to sell his team. By the lockout of 2011, Jordan had moved to the other side of the table. But several members of the National Basketball Players Association’s executive committee saw him not as an opponent or turncoat but as a role model: someone who had transformed himself from employee to employer at the game’s highest level. “The players understood, he had been in their shoes,” Whitfield said. “He’s not forgetting what it meant to be a player. He was in the process of learning what it meant to be an owner.” When the current collective bargaining agreement was negotiated with commissioner Adam Silver and union director Michele Roberts leading the talks, Jordan was an active, powerful voice. He is an influential member of the NBA’s labor relations and competition committees. One Charlotte insider spoke to Jordan’s clout with his fellow owners in getting this weekend’s showcase -- jeopardized by a political squabble in 2017 -- back onto the league’s short list. “There’s no All-Star Game here in Charlotte if it’s not for MJ,” the person said. Last summer in Las Vegas, Silver lauded Jordan for his ability to straddle the basketball and business worlds. “He brings unique credibility to the table when we're having discussions [with the players],” he said, “and even just among the owners, he's able to represent a player point of view… Michael can say, 'Well, look, this is how I looked at it when I was a player, and these are the kind of issues we need to address if we're going to convince players that something is in everyone's interest.’ ” Jordan’s powers of persuasion apparently have been even more impressive in Charlotte and North Carolina. The executives are careful about relying on him too often -- Jordan’s most precious commodity, now that his net worth is estimated to be upwards of $1.7 billion -- is his time. But when they need Mariano Rivera to walk in from the bullpen, he is lights out. “We’ve had corporate sponsors at a golf outing, and he’s been there, maybe stayed at one hole to tell off with everybody,” Whitfield said. Or they’ll invite certain corporate sponsors to one of a few games each season in which “Club 23” is up and running at the Spectrum Center, a private club built for such purposes. They get a chance to visit, talk with and pick Jordan’s brain on the Hornets and much more. “We’ve closed all those deals,” Whitfield said. Then there was the time a local CEO wanted to finalize a sizeable sponsorship deal with the team, and had his No. 2 invite Jordan over to their headquarters for the meetings. Whitfield told the tale: “This guy says, 'You have to come to our office. Our CEO is the man in our business.' But we’re like, 'Nah, typically, CEOs come and meet in Michael’s office or in ‘Club 23’ over here.' He said no, that wasn’t going to work for them. “So Pete Guelli said, 'Let’s make a deal: We’ll take your CEO and drop him off in Beijing. And we’ll drop off Michael in Beijing. Then we’ll see who more people gravitate to. Whoever gets the least people, he has to come to the other guy’s office.'” Point made. Point taken. Said Whitfield: “The guy says, ‘You know what, I got it. We’ll be over 10 o’clock Friday morning.’” A community he calls home The Michael Jordan who once seemed determined to float above cultural and political frays as the most prudent way to serve commerce has not held back in recent years from making his presence felt. He has been more philanthropist than activist and, let’s face it, in times of the most dire need, cash beats talk every time. Charity and investing in the community can be good for business, sure. Making that a priority after Guelli’s arrival and Jordan’s purchase helped the Hornets build bridges with fans and merchants that Shinn and the original franchise’s departure had torched. More than that, though, giving back for Jordan and his team at this point in his life was the right thing to do. And do, and do, and do. The list of charitable and civic efforts Jordan and the Hornets have undertaken is long, with few outside the region or state aware of most of it. Among the highlights: - Donating $2 million to relief efforts in the wake of Hurricane Florence, particularly meaningful because of the damage it did in Jordan’s hometown of Wilmington. - Dedicated $7 million in partnership with Novant Health to fund two Michael Jordan Family Clinics, set to open in Charlotte in 2020. - Serving as Make-A-Wish’s Chief Wish Ambassador since 2008, while donating more than $5 million to the organization. His relationship with Make-A-Wish began more than 30 years ago. - Contributing $5 million as a founding donor of the Smithsonian’s National Museum of African American History and Culture in Washington, D.C. - Addressing the issue of police shootings and community policing in 2016 by donating $1 million each to the NAACP Legal Defense Fund and the International Association of Chiefs of Police. After the hurricane in September devastated so many homes and businesses in and near Jordan’s roots, he wanted to do more than to stroke a fat check. In a meeting covered by The Associated Press, he met with Stephanie Parker and her family, including four young children, after they lost their apartment in two feet of flooding. A call from the director of the Cape Fear chapter of the Red Cross brought them together. The meeting took place at a Lowe’s home improvement store. “I look around the corner, and it’s Michael Jordan. ‘Oh my God!’" Parker said. “I look at my kids, ‘It’s Michael Jordan!’ I’m not going to lie, some tears came in my eyes, because the first thing that went through my mind was when I was younger, his last game when he was on the Chicago Bulls team, and that flashback just came right in my mind.” Afterward, Jordan was coaxed by the Charlotte Observer to talk about why that disaster resonated so deeply for him. “You gotta take care of home,” he said. “Wilmington truly is my home. Kept thinking about all those places I grew up going to … You don’t want to see any of that anywhere, but when it’s home, that’s tough to swallow.” There’s basketball, there’s business and then there’s real life, which sometimes intrudes in the most desperate ways. “We didn’t know how many people in our community were hungry,” Whitfield said. “There are people in dire need, and it’s special to have that hometown hero have in his heart that ‘This is where I can help.’ “It gives not only him as a person but our organization a platform to really speak out. That commitment is what has made him a special owner, and why he’s even more beloved in our community.” Winning title No. 7 drives Jordan now To date, Jordan’s greatest achievements have come elsewhere, at least since his baseline shot as a freshman propelled North Carolina to the 1982 NCAA championship. Those Bulls championships, the “Dream Team” magnificence, his partnership with that sneaker company in Beaverton, Ore., his Naismith Memorial Basketball Hall of Fame induction, shooting “Space Jam,” all of it -- his legacy has been crafted with others, for others, mostly far from home. (For the record, Jordan, his wife Yvette and their two daughters own a mansion outside Charlotte and an estate in south Florida). “Look, this has always been home for him,” Whitfield said. “Even though he was drafted by Chicago, WGN became a very popular station. And he just continued to elevate, so people in this state were proud to say, even though he’s a Bull, we love him. When the Bulls would come here and play at the old Coliseum, these fans who were avid Hornets fans were all pulling for Michael Jordan. “He’d score, they’d cheer loudly. The Hornets would score, they’d cheer loudly. North Carolina always felt like he was their native son who went off and achieved greatness.” Coming back first to head the franchise’s basketball operations and then as owner, Jordan’s role -- in light of the modest results on the court -- has been custodial. Yes, the club’s improved financial stability is important. But for this driven winner and NBA owner unlike all others, custodial isn’t going to cut it for long. “He did an interview with Cigar Aficionado magazine a while back,” Peterson said, “and the question was asked, ‘What would you like to do?’ And he said, ‘Win a seventh championship. Win as an owner.’ So for me, every day, I’m thinking, here’s a close friend and you want to make your friends happy, right? So each day I think, do the best you can to reach this goal for him.” Said Hornets wing Nicolas Batum: “I understand. He wants to win. He wants to compete since he was born.” It hasn’t been for lack of trying, although Jordan has made sure to keep fiscal responsibility high on every agenda. The team’s payroll for 2018-19 is approximately $122.3 million, which ranks near the middle of the NBA pack. “That Michael Jordan is one cheap dude,” said an impassioned cab driver on a recent airport run. “He’s only going to spend so much and the players they get shows it.” The Hornets never have spent into the league’s luxury-tax, and if Walker is retained when he hits free agency this summer, he’ll likely become the first Charlotte player to sign a full maximum-salary contract (though the five-year, $120 million deal Batum landed in 2016 came awfully close). Injuries and dubious moves have taken a toll, a situation that Kupchak, Borrego and their staffs have been tasked with fixing. Jordan, by all accounts, is engaged yet patient, with a playoff berth and potentially a record above .500 within reach. “I’m sure he feels like,” Whitfield said, “if he were still 30 years old and could lace ‘em up and get out there, he’d help us get over the hump. I think he would cherish it as much or more than the first six. Because I think he realizes how hard it is to get it done. “But it doesn’t bother us if the fans see his frustration sitting next to our bench. It’s important to us that they see he’s not only invested, he’s vested in what our team is trying to do. They can relate to him because they’re feeling that same frustration.” Jordan is theirs again and that’s what matters. For basketball, for business, for community and in time, just maybe, in championship. 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 NewsFeb 16th, 2019

US destroyers sail in disputed South China Sea amid trade tensions

WASHINGTON — Two U.S. warships sailed near islands claimed by China in the South China Sea on Monday, a U.S. official told Reuters, a move likely to anger Beijing at a time of tense relations between the world’s two biggest economies. Beijing and Washington are locked in a trade war and the two sides are trying […] The post US destroyers sail in disputed South China Sea amid trade tensions appeared first on Interaksyon......»»

Category: newsSource:  interaksyonRelated NewsFeb 11th, 2019

Alternative lending in the Philippines

The Philippines develops fast, growing by about 6% yearly since 2010. In the same period, the country has shown the best dynamic, going by the net inflow of foreign investments among Southeast Asian countries. According to the World Bank, the figure increased ninefold from 2010 to 2017. Yet despite the economy growing more than twice since 2001, the high level of poverty has remained and real wages have not changed much......»»

Category: newsSource:  bworldonlineRelated NewsFeb 5th, 2019

LeBron back in fold, but other issues still on Lakers minds

By Shaun Powell, NBA.com Well, scratch one name off the Los Angeles Lakers’ wait list. LeBron James has finally reported for duty, and who would’ve thought he’d beat Anthony Davis to the team’s lineup? Five weeks felt like forever to the franchise as they sweated out LeBron’s 17-game absence from a groin injury. It was the first injury of any concern in his 16-year career, and given his workload over such time, maybe that will serve as one of the more amazing feats by LeBron. A sense of normalcy crept back into the Lakers’ season if only for a night when LeBron suited up Thursday (Friday, PHl time), played 40 minutes without a hiccup, and -- on the surface anyway -- all seemed well. That doesn’t mean all is well. All is very confusing. The Lakers are juggling a pair of sensitive uncertainties: Davis and whether they can swing a deal to acquire the New Orleans Pelicans’ All-NBA player … and the Western Conference playoff chase. The Davis dilemma has the more urgent expiration date. Thursday’s (Friday, PHl time) deadline means one way or another, the Lakers will have clarity on one of the more uncomfortable scenarios in recent memory. And when there’s finally a verdict, and no matter what it is, there will be a sense of relief (to an extent). That’s because the young core of the Lakers are essentially being held hostage while the club enthusiastically tries to pawn one of two or all of them off in order to get Davis. Imagine being Kyle Kuzma, Lonzo Ball, Brandon Ingram and/or Josh Hart now and figuring out what they’re going through. This Davis trade request is in their heads. They don’t know if by next week they’ll be passing the ball to LeBron or … E’Twuan Moore. They don’t know if they’ll be playing in L.A. or … La. They don’t know if LeBron, whose agency also represents Davis and is helping to orchestrate his New Orleans exit, has their back or is sticking a fork in it behind the scenes. There’s so much at work here, so many moving parts, so much head scratching. By all indications, there are exploratory conversations between the Lakers and Pelicans about what it will take to land Davis. The Lakers are dangling young players and Draft picks, and that might not be enough. Meanwhile, the Pelicans are dealing with their own prickly situation. The trade request caused a measure of saltiness and the front office doesn’t appear to be warm to the idea of having Davis around. The Pelicans scrubbed him from their pre-game video intros, as though he doesn’t exist anymore. He’s still on the team bench during games but it’s a weird optic. Davis is with a team he doesn’t feel is good enough for him anymore. In a perfect world, the Pelicans would take their time and weigh considerable offers from other teams, but that may stretch until this summer. Davis’ contract only runs one more season. If he tells other teams he won’t sign an extension with them, he can sabotage deals. Why would those teams surrender assets for a one-year rental? The stare-down continues as the weekend approaches and LeBron returns to face the league-leading Golden State Warriors in Oakland on Saturday (Sunday, PHL time). “With LeBron back, we have to adjust again as to how we play,” said coach Luke Walton. “But he looked fine to me.” He was initially on a 25-minute restriction Thursday (Friday, PHL time), but played the entire overtime in the Lakers’ win. He was feeling and looking stronger as the game progressed, finishing with 24 points, 14 rebounds and nine assists. “I’m about 80 (percent) right now,” James said. “It’s going to take me a while to get my rhythm back. We got a lot of games coming up. I want to see how my body feels tomorrow after playing tonight. Toughest stretch of my career. I worked my butt off to get back to this point. “I wasn’t positive every day throughout this process. There were times when I felt great and thought I could come back faster. It wasn’t reacting the right way so I had to be patient. I’d never been injured before like that. I didn’t come here to put on a suit everyday. I came here to put on a jersey, when you see your team struggle and you can’t help them in a suit and tie, that was frustrating.” The Lakers went 6-11 without LeBron and dropped games to the likes of the New York Knicks, Sacramento Kings, Cleveland Cavaliers and two to the Minnesota Timberwolves. It was unsightly and discouraging at times, and the losing -- combined with LeBron’s sense of mortality -- perhaps kick-started the Davis chase. Perhaps team president Magic Johnson and GM Rob Pelinka (with input from LeBron) decided it’s time to get into the express lane, at the expense of youth, and quicken the process. “I’m excited about being back out there with my guys,” James said. “We’re ready for the challenge. We want to get back into a groove and get a playoff spot. That’s what I’m here fore, that’s what we’re here for.” The playoff chase begins in earnest for any team in the West with those aspirations. To reach 48 wins, which should be enough for a playoff spot, the Lakers need to win 21 of their last 30. And given the stiff competition out West, that likely means LeBron will need to play meaningful games in April -- a time which normally would call for rest -- and perform at a high level, too. Keep in mind if the Lakers are gutted to get Davis, the supporting cast around the two stars will be depleted. In such a case, the real pursuit of the Warriors wouldn’t realistically begin until next season. Even that depends on what else the Lakers can do this summer with their salary-cap surplus. Remember, LeBron is 34 … and just sat for the longest stretch of his career. When you sign LeBron, the end game is a championship or at the very least, a reasonable chase. The Lakers are getting him on the back end, so in this situation, there’s a clock and the Lakers are on it. Time is ticking on their chances of getting Davis this season in what would be a major shakeup. And time is also ticking on their playoff pursuit, which if it fails, would be a major letdown. Veteran NBA writer Shaun Powell has worked for newspapers and other publications for more than 25 years. You can e-mail him here or 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 NewsFeb 2nd, 2019

U.S., China resume trade talks with a chill in the air

WASHINGTON, USA – Top US and Chinese trade officials returned to the bargaining table Wednesday, January 30, working to avoid a sharp escalation in the trade war between the world's two largest economies. At the head of a 30-person delegation from Beijing, Chinese Vice Premier Lie He greeted his counterpart, ........»»

Category: newsSource:  rapplerRelated NewsJan 31st, 2019

High value services to drive Philippines growth

The World Bank is urging the Philippines to ease foreign ownership and other regulatory restrictions in services to enable the sector to drive economic growth further amid slowing global trade in goods......»»

Category: financeSource:  philstarRelated NewsJan 29th, 2019

WB advises Philippines to upgrade service sector

THE GOVERNMENT needs to support the upgrade of services and worker talent, the World Bank (WB) said, noting that global trade in goods will be subdued for quite some time......»»

Category: newsSource:  bworldonlineRelated NewsJan 28th, 2019

China warns the U.S. over its provocative naval maneuver

WASHINGTON, U.S. - With trade tensions already high between the world's two largest economies - the U.S. and China - an issue that has been intensifying simultaneously over the last ten mont.....»»

Category: newsSource:  philippinetimesRelated NewsJan 28th, 2019

U.S. sends warships through Taiwan Strait, China issues warning

WASHINGTON, U.S. - With trade tensions already high between the world's two largest economies - the U.S. and China - an issue that has been intensifying simultaneously over the last ten mont.....»»

Category: newsSource:  manilanewsRelated NewsJan 28th, 2019

Beijing, US to ease tensions

WASHINGTON — The head of the US Navy will visit his Chinese counterpart next week, officials said Friday, as the two powers seek to reduce military risks amid ongoing trade tensions. Chief of Naval Operations Admiral John Richardson will travel to Beijing and Nanjing from 13 to 16 January, when he will meet with Vice […].....»»

Category: newsSource:  tribuneRelated NewsJan 13th, 2019

Dominguez pitches solar power plant in New Clark City | Inquirer Business

The head of the Duterte administrations economic team has sought possible assistance from an arm of the Washington-based World Bank Group for a solar power plant in the soon-to-rise New Clark City. Th.....»»

Category: newsSource:  philippinetimesRelated NewsJan 11th, 2019

WB sees Philippines weathering risks

THE WORLD BANK expects the Philippines to sustain above-average economic growth in the next two years despite a global slowdown triggered largely by the trade spat between the world’s two biggest economies......»»

Category: financeSource:  bworldonlineRelated NewsJan 9th, 2019

Microfinancing: The Micro-step Towards Achieving Financial Inclusion

Financial inclusion is a goal that both the national government and financial institutions continually strive for. According to the World Bank, financial inclusion is the key enabler towards reducing extreme poverty and boosting shared prosperity. It is also an enabler for seven (7) of the 17 Sustainable Development Goals (SDGs) of the United Nations (UN), […].....»»

Category: newsSource:  metrocebuRelated NewsJan 4th, 2019

ANZ Research sees smaller PHL trade deficit next year

THE PHILIPPINES will likely see a narrower external trade gap in 2019, a global bank said, citing help from falling oil prices in the world market......»»

Category: financeSource:  bworldonlineRelated NewsDec 26th, 2018

Kings of the World: Team Lakay s dominance highlights 2018 in Mixed Martial Arts

As always, 2018 offered up another year's worth of memorable moments from the world of mixed martial arts.  From the East to the West, the world's fastest growing sport found a way into sports headlines, and here are some of the biggest stories inside and out of the cage from the past twelve months.    "CHAMPIONS ARE NOT BORN, THEY ARE MADE" 2018 definitely belonged to famed Filipino mixed martial arts stable Team Lakay.  The humble La Trinidad, Benguet-based gym has established themselves as the top team in the Philippines for the past few years, but in 2018, they cemented their status as one of the best in the world.  Building off their elite-level striking skills and continuously-improving grappling accumen, the boys from Baguio City dominated Singapore-based MMA promotion ONE Championship, capturing four world championships in just a span of a single year.  Flyweight star Geje "Gravity" Eustaquio opened the year with an interim championship win over former champion Kairat Akhmetov in Manila back in January. Six months later, Eustaquio dropped the "interim" tag by defeating two-time champion Adriano Moraes in Macau to become the undisputed ONE Flyweight World Champion.  After putting together a tremendous winning streak, young strawweight star Joshua "The Passion" Pacio earned a well-deserved rematch for the ONE Strawweight World Championship against two-time champion Yoshitaka "Nobita" Naito. Back in September, Pacio erased the bitter memory of his previous defeat against Naito two years prior by stifling the Japanese submission specialist with impeccable grappling defense to earn a unanimous decision win and capture the strawweight crown in Jakarta. Much like his stablemate Eustaquio, Kevin "The Silencer" Belingon had to go through two world champions to take his place at the top of the bantamweight division. After blasting former world title challenger Andrew Leone with a now-famous spinning back kick in April, Belingon dominated then-two division world champion Martin Nguyen to become the ONE Interim Bantamweight World Champion and finally earn a long-awaited rematch with long-time bantamweight king Bibiano Fernandes. In November, Belingon did what no other man in ONE has done and defeated Bibiano Fernandes via split decision to become the undisputed ONE Bantamweight World Champion, ending Fernandes' seven-year winning streak and five-year reign as ONE world champion.  Capping off Team Lakay's spectacular 2018 campaign was the return to glory of arguably the biggest homegrown MMA star in the country, Eduard "Landslide" Folayang. After losing his title twelve months prior, Folayang put on a masterclass against dangerous Singaporean contender Amir Khan at ONE: Conquest of Champions in Manila in early December to once again capture the ONE Lightweight World Championship for the second time in his storied career.  Outside the ONE Championship banner, another world champion from Team Lakay continues to reign, as BRAVE Combat Federation Bantamweight World Champion Stephen "The Sniper" Loman successfully defended his title twice in 2018.    THE TRUTH RETURNS Speaking of Filipino world champions, the biggest one of them all finally made his return in 2018.  After a two-year absence due to outside commitments, reigning ONE Heavyweight World Champion Brandon "The Truth" Vera made his way back to the cage, and his comeback was nothing short of explosive.  Taking on the hard-hitting Italian challenger Mauro Cerilli in Manila last December 7th, Vera needed only 64 seconds to dispatch Cerilli via knockout and remain the king of the ONE Championship heavyweight kingdom.    NOTORIOUS Conor "The Notorious" McGregor was arguably the biggest combat sports star of 2017, after crossing over to boxing and facing off against Floyd Mayweather Jr. in the year's biggest combat sports event.  In 2018, the Notorious one was all over the headlines once again.  In April of 2018, McGregor was stripped of the UFC Lightweight World Championship due to inactivity.  Earlier that month, the Irish star was at the forefront of a backstage melee during the UFC 223 media day in Brooklyn, New York that saw McGregor hurl a dolly at a bus full of fighters, leading to a number of minor injuries. McGregor would later be slapped with charges due to the attack.  In August, it was announced that McGregor would be making his return to the Octagon to challenge reigning lightweight king Khabib "The Eagle" Nurmagomedov, who was the initial target of McGregor's backstage bus attack earlier that year.     "I COME FOR SMASH THIS GUY" The drama-filled leadup to the UFC Lightwieght World Championship bout between Khabib Nurmagomedov and Conor McGregor made it no doubt one of the most anticipated matches of the year, and when the two were finally locked inside the Octagon, it didn't disappoint.  Nurmagomedov ultimately imposed his will, grounding McGregor for three rounds, before finishing the Irishman off in the fourth round with a rear-naked choke to remain unbeaten and retain the UFC's 155-pound strap.  What happened after, however, overshadowed everything that came before it.  After forcing McGregor to tap out, Nurmagomedove scaled the Octagon fence and jumped out to the crowd to confront Dillon Danis, McGregor's grappling coach.  It didn't take long for mayhem to ensue, as chaos broke out inside and out of the cage.  Both Nurmagomedov and McGregor have been suspended indefinitely, with the final hearing, which will decide the fate of the two fighters, expected to take place this month.    THE HOME OF MARTIAL ARTS Since ONE Championship's inception in 2011, it has primarily operated as a mixed martial arts promotion. In the past years, ONE has put on grappling superfights and special martial arts bouts.  In 2018 however, ONE took it to a whole new level by introducing the ONE Super Series back in April, which features Muay Thai and kickboxing bouts.  The new wrinkle has attracted some of the world's best strikers, including Giorgio Petrosyan, Yodsanklai IWE Fairtex, Andy Souwer, Cosmo Alexandre, and many more.  ONE also dipped their foot in boxing, bringing in reigning WBC Super Flyweight World Champion Srisaket Sor Rungvisai as the headliner for ONE's October card in Bangkok, where he successfully defended his title against Mexican challenger Iran Diaz in front of a raucous hometown crowd at the Impact Arena.    "DC" ALSO STANDS FOR "DOUBLE CHAMP"  No other fighter has had a better 2018 than Daniel "DC" Cormier.  After being named the UFC Light Heavyweight World Champion after Jon Jones tested positive for banned substances during their 2017 title bout, Cormier successfully defended the 205-pound belt against Volkan Oezdemir.  Six months later, Cormier jumped up to heavyweight and shocked the world by knocking out the once-dominant champion Stipe Miocic to become just the fifth two-division world champion and the second simultaneous two-division world champion in UFC history.  In November, DC made even more history by becoming just the first fighter in UFC history to successfully defend world titles in two weight divisions after submitting Derrick Lewis in the second round.    BIG STARS HEAD EAST Asian mixed martial arts giant ONE Championship made worldwide MMA news in 2018 after snagging a handful of big name talents in former UFC and Bellator Lightweight World Champion Eddie "The Underground King" Alvarez, former long-time UFC Flyweight World Champion and pound-for-pound great Demetrious "Mighty Mouse" Johnson, and former UFC lightweight and welterweight standout  "Super" Sage Northcutt.  Alvarez and Northcutt signed with ONE after their UFC contracts had expired, while Johnson made his way to ONE via the first-ever trade in MMA history, which sent former ONE Welterweight World Champion Ben "Funky" Askren to the UFC.  All three stars are set to make their debuts in 2019.  Aside from bringing in top-tier athletes, ONE also brought in another big name to fill an executive spot, with former UFC and Strikeforce Women's Bantamweight World Champion Miesha Tate coming in as a Vice President. .....»»

Category: sportsSource:  abscbnRelated NewsDec 22nd, 2018

World Bank cuts Philippine growth forecasts on elevated inflation, budget reenactment, weak trade

THE WORLD BANK cut its economic growth forecast for the Philippines as sustained high inflation, lower infrastructure disbursements next semester due to reenactment of the national budget and continued weakness of global trade offset the lift from spending related to the May 13, 2019 mid-term elections......»»

Category: financeSource:  bworldonlineRelated NewsDec 21st, 2018

Saudi prince in Argentina as G20 summit tensions brew

BUENOS AIRES, Argentina – World leaders began arriving in Argentina Wednesday, November 28, ahead of a G20 Summit dogged by increasingly strident warnings about the impact on the world economy of threatened US trade tariffs. US President Donald Trump's trade war with China is a dominant theme at the weekend summit but one sideshow is how ........»»

Category: newsSource:  rapplerRelated NewsNov 29th, 2018