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Trade back to growth as imports post unconvincing rebound

Trade is back on positive territory in February after imports snapped nearly 2 years of downtrend on the back of low base effects......»»

Category: financeSource: philstar philstarApr 8th, 2021

China’s foreign trade sustains growth momentum

The country’s total imports and exports of goods expanded 32.2 percent year on year to 5.44 trillion yuan (about 838.16 billion US dollars) in the January-February period. The post China’s foreign trade sustains growth momentum appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsMar 9th, 2021

Imports growth hints local business expansion

Department of Trade and Industry (DTI) Secretary Ramon Lopez said the 8.2% month-on-month  import growth recorded in September is indicative of an expansion of the resumption of several business activities  even as imports have continued to decline for 17 consecutive months. The majority of September imports recorded were inputs to manufacturing, mainly on capital goods […] The post Imports growth hints local business expansion appeared first on Daily Tribune......»»

Category: newsSource:  inquirerRelated NewsNov 10th, 2020

Exports post first growth since Feb.

The country’s exports increased in September this year, the first monthly growth in seven months, data from the Philippine Statistics Authority (PSA) showed. As the country’s economy gradually reopened, sales from export during month returned to growth for the first time since February, a month before the government imposed the Luzon-wide community quarantine.Total export receipts reached $6.22 billion in September, up from $6.08 billion in the same month last year.  Seven of the country’s top 10 major exports posted an increase during the month, led by cathodes and sections of cathodes, of refined copper (133.9 percent), other mineral products (73.3 percent); and metal components (32.9 percent).  People’s Republic of China and Japan were the top buyers of Philippine products, with 19.6 percent and 15.7 percent, respectively. They were followed by the United State with 14.5 percent, Hong Kong with 13 percent and Singapore with 5.6 percent. But despite the growth, export earnings at end-September amounted to $45.87 billion, lower by 13.8 percent compared with the same period last year. Imports, on the other hand, contracted for the 17th straight month in September after posting an annual decline of 16.5 percent from $9.49 billion a year ago to $7.92 billion.   Eight out of the top 10 major imports decreased during the month. The fastest were seen in transport equipment (53 percent); mineral fuels, lubricants and related materials (51.4 percent); and industrial machinery and equipment (23.3 percent). The People’s Republic of China was also the country’s biggest supplier of imported goods with 25.3 percent share of the total imports in September, followed by Japan with 9.1 percent, South Korea with 8.1 percent, United States with 7.6 percent, and Indonesia with 7.1 percent. The country’s total external trade in goods in September, meanwhile, declined by 9.2 percent to $14.14 billion, while the balance of trade in goods, which measures the difference between the value of export and import, posted a trade deficit of 49.9 percent......»»

Category: newsSource:  inquirerRelated NewsNov 4th, 2020

Strong peso foreshadows bad economic news, says ING economist

MANILA, Philippines — The strong peso may be a portent of bad economic news because it is being caused primarily by a steep drop in imports that were needed for the Philippines to maintain its growth trajectory, according to an economist. At the same time, ING Bank Manila senior economist Nicholas Mapa warned that a rebound […] The post Strong peso foreshadows bad economic news, says ING economist appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsSep 21st, 2020

Trade deficit narrows in February as virus fears keep factories shut

A sharp pull back in imports narrowed the Philippines’ trade gap in February, the government reported Wednesday, an indication that coronavirus fears are already crippling the country’s growth engines amid falling demand and tepid economic activity......»»

Category: newsSource:  philstarRelated NewsApr 8th, 2020

30 Teams in 30 Days: Nuggets to keep rolling with Nikola Jokic, Jamal Murray

Like most summers in the NBA, the 2019 edition was chock full of trades, free agent news and player movement. From the defending-champion Toronto Raptors to just about every other team in the league, change was the most applicable word when it came to describing team rosters for the 2019-20 season. With the opening of training camps just around the corner, NBA.com's Shaun Powell will evaluate the state of each franchise as it sits today -- in order of regular-season finish from 2018-19 -- as we look at 30 teams in 30 days. * * * Today's team: Denver Nuggets 2018-19 Record: 54-28, lost in the second round of the playoffs Key additions: Jerami Grant (trade), Bol Bol (draft) Key subtractions: Trey Lyles, Isaiah Thomas The lowdown: The steady growth of the Nuggets was evident in a 50-win season and a first-round victory in the playoffs over the more-experienced Spurs, which was clearly a step forward. Then the journey ended with a sour taste after Denver lost a Game 7 at home to a lower seed, the Blazers. In all, the Nuggets received almost everything they’d hoped for from a developing contender, especially in the form of Nikola Jokic. The multi-skilled Serb established himself as the league’s most talented big man, if not the best period, with a stellar performance that attracted some Kia MVP notice. He averaged 20 points, almost 11 rebounds and seven assists in an offense that ran through him, rare in today’s spread-the-floor league where centers are being phased out or pegged as role players and pick-setters. Jokic reminded many of Bill Walton or maybe Vlade Divac for his precise and sometimes entertaining passing skills from the high post. His co-star was Jamal Murray, who made generous strides as a leader and shot-maker and fit well with Jokic. The Nuggets also played some of the best defense in the league for much of the season and had solid backcourt depth with Monte Morris and Malik Beasley averaging a combined 21 points off the bench. There were mixed reviews, however, for Gary Harris. The starting two-guard didn’t improve and in some areas actually regressed as he struggled with injuries in a 57-game season. Same for Will Barton, who shot 40 percent and played 43 games. But those were nit-picks. The Nuggets finally arrived after going a league-leading 34-7 at home, reaching the second round of the playoffs for the first time in a decade, and using the draft and trades to remake the roster over the last few years to stay in the attic in the very competitive West, which was no easy task. Summer summary: When an NBA team reaches a critical stage of the developing process and checks all the necessary boxes, it’s time to keep the continuity. Which means, time to pay up, and the Nuggets did just that this summer with two of their important figures: Murray and GM Tim Connelly, and both were easy calls. Murray went from a rookie who played behind Emmanuel Mudiay to a dependable, sometimes clutch-shooting guard in just three seasons. While he’s obviously the starter at the point for the Nuggets, Murray’s value lies in his flexibility. He can play off the ball and be just as valuable whenever Jokic assumes the “point-center” role. He averaged 18.2 points and 4.8 assists and showed growth despite struggling at times in his first postseason. He also doesn’t turn 23 until February. So the Nuggets gave him $170 million over five years, banking on his continued growth, which appears to be a safe investment. Therefore, Denver’s two most important players, Jokic and Murray, are under contract together for the next three seasons. Connelly replaced Masai Ujiri in 2013 and repaid the Nuggets’ faith by overseeing a basketball operation that has run mostly smoothly ever since. He drafted Jokic at No. 41 and hired Mike Malone as coach. The Nuggets have gone from 33 wins in Malone’s first season to 54. Even better, the meat of the roster is trending in the right direction and there’s no dead weight. This summer, the Wizards, after firing Ernie Grunfeld, chased after Connelly, a Baltimore native who attended college in D.C. Connelly broke into the business as an intern for the Wizards and has family ties to the D.C area, so the prospect of leaving Denver was a real threat. Ultimately, Nuggets boss Josh Kroenke was successful in persuading Connelly to stay. Usually that comes with a promise of a significant raise, but more importantly, Connelly saw what he’s building in Denver and couldn’t leave unfinished business. Denver has a solid mix of youth and vets and is coming off a season where it was the No. 2 seed in the West. Hard to walk away from that. Paul Millsap also cashed in when the Nuggets agreed to pick up his 2019-20 option year for $30 million. There was some question whether the Nuggets would tie that much into a soon-to-be 35-year-old forward who, statistically anyway, is coming off his worst season since 2009-10 and his fewest minutes since 2008. But Millsap still brings a solid defensive mindset and experience, and anyway, the Nuggets were all about maintaining the flow this summer. Plus, Denver will remain under the luxury tax with with Millsap’s option. Millsap’s minutes could be reduced this season because the Nuggets traded for a more athletic option in Grant. With the Thunder, Grant improved his 3-point shooting last season and became more of a well-rounded forward. If used correctly by Malone, he can thrive in Denver, which badly needs his physical gifts. Of course, there’s also the wild card: Michael Porter Jr. The club’s first-round pick two summers ago sat all last season while recovering from a back issue, then was scratched from summer league play in July because of a minor knee issue which was more of a precautionary move. In a best-case scenario, Porter stays healthy and gives the Nuggets three options at power forward. Connelly didn’t have a first-round pick this summer but swung a deal to fetch a second-rounder once Bol Bol dropped to No. 44 in the draft. The son of former NBA player Manute Bol, he suffered a foot injury last season at Oregon and NBA teams were wary of his potential for recovery. Well, Connelly and the Nuggets will essentially treat Bol as they did Porter; Bol will be an injury red-shirt and prepare for 2020-21. And so, the Nuggets’ summer wasn’t about making wholesale changes, but keeping the pace they’ve set over the last three seasons and rewarding some of the key personnel responsible for it. Patience has allowed the Nuggets to get this far and so there was no reason to panic or rush the process this offseason. 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 NewsSep 28th, 2019

30 Teams in 30 Days: Solid finish, playoff push prompts Magic to run it back

Like most summers in the NBA, the 2019 edition was chock full of trades, free agent news and player movement. From the defending-champion Toronto Raptors to just about every other team in the league, change was the most applicable word when it came to describing team rosters for the 2019-20 season. With the opening of training camps just around the corner, NBA.com's Shaun Powell will evaluate the state of each franchise as it sits today -- in order of regular-season finish from 2018-19 -- as we look at 30 teams in 30 days. * * * Today's team: Orlando Magic 2018-19 Record: 42-40, lost to Raptors in first round of playoffs Key additions: Al-Farouq Aminu (free agency), Chuma Okeke (Draft) Key departures: Timofey Mozgov The lowdown: It perhaps escaped your notice, but the Magic actually raised a banner in 2018-19. They won the admittedly-weakened Southeast Division, and while that might make folks snicker, any progress is good progress for a franchise still looking to gain traction in this, the unfulfilled post-Dwight Howard era. They were beastly down the stretch, going 11-2 to fight their way out of a midseason slump to reach the playoffs. Plus, they took a game from the eventual-champion Toronto Raptors in the first round. It helps to be in the Eastern Conference, but let’s not water-down what the Magic did too much. They received solid seasons from Aaron Gordon and Evan Fornier, a career season from Terrence Ross and an All-Star season from Nikola Vucevic. (It didn’t hurt that Vucevic and Ross were pending free agents playing for money.) The club also responded well to new coach Steve Clifford. However, there were mild disappointments -- mainly from the last two first-round picks. Jonathan Isaac didn’t take a leap in his second season and seemed unsure whether to be a stretch-four or use his size advantage in the paint. He wound up being just OK at both (9.6 points, 5.5 rebounds per game). Rookie Mo Bamba looked like a project throughout the season as injuries limited him to just 47 games. All told, the Magic made the playoffs for the first time in seven years and won more games in any strike-shortened season since 2010-11. That was enough to pacify the home crowd and finally show up on NBA radar, however faint. Summer summary: For the second time this decade, the Magic arrived at a crossroads regarding their All-Star center and had to make a decision with fairly large future ramifications. Last time, it was Howard. This time, it was the guy who replaced Howard. The decision now, as then: Should they re-sign the big man? Actually, it was a dual decision. Orlando had to want "Vooch" and vice-versa, considering he was an unrestricted free agent, and it wasn’t an automatic call in either case. Vucevic and his family enjoyed Orlando, yet the franchise, despite finally posting a winning season, was hardly in contender condition. He had options as a number of teams -- the LA Clippers among them -- expressed interest in the center with a soft touch and sound footwork. As for the Magic, they’d just drafted Bamba in 2018 with the No. 6 overall pick. The idea, at least you’d think, was having Bamba replace Vucevic at some point. By keeping Vucevic, what signal were they sending to Bamba? Why would they stifle the growth of a player whom they took over Wendell Carter Jr. and Collin Sexton? In the end, both the Magic and Vucevic agreed and Orlando delivered a four-year, $100 million deal. The team's thinking? Vucevic is an asset and so it’s better to keep him, even at a high price, rather than let him walk and get nothing back. Bamba must wait his turn, and he’ll need more time to develop after a raw rookie season. The other investment was in Ross, who spent much of his previous six NBA seasons as an athletic swingman who teased a lot. Last season, he was (for once) a primary option and shot well from deep (38.3 percent), earning himself a four-year, $54 million deal from Orlando. The Magic believe Ross, 27, is tapping into his prime later than usual. Then Orlando added depth at that position with Aminu. He can spread the floor and is decent defensively ... but isn’t a shot creator because of a weak dribble. At three years and $29 million, Aminu was a reasonable buy. In recent years past, Orlando was a fixture at the Draft lottery, and then their fate changed abruptly by making the playoffs. The downside, though, is Orlando had a middle first-round pick, where future superstars don’t normally live. Those picks are where teams take risks, and the Magic did so by selecting Okeke, who missed Auburn’s Final Four appearance after injuring his knee in the Sweet 16. Before the injury, the 6-foot-8 Okeke showed strong instincts around the basket, especially rebounding, while also shooting 3-pointers. Most scouts believe he would’ve been a lottery pick, and perhaps taken in the top-10, if not for the injury. The Magic spent the summer mulling whether to “redshirt” Okeke as they have another young player at his spot in Isaac. Plus, Okeke can heal thoroughly and also get reps in the NBA G League. There's also former No. 1 overall pick Markelle Fultz here, too, whom the Magic added in a deadline-day trade last season with the Philadelphia 76ers. He's still recovering from the thoracic outlet syndrome he was diagnosed with last season and hasn't played a game for the Magic. Still, Orlando believed in him enough to exercise his contract option for 2020-21. If he's ever healthy and shows the talent that made him a star a Washington, Fultz could help Orlando rise up as a real East contender. Other than big-money decisions on Vucevic and Ross, the Magic was content to make only minor changes. They still lack the superstar needed to rise the ranks in the East, yet their core is proven and capable of knocking on playoffs' door for a second straight season. 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 NewsSep 18th, 2019

30 Teams in 30 Days: Nuggets to keep rolling with Nikola Jokic, Jamal Murray

Like most summers in the NBA, the 2019 edition was chock full of trades, free agent news and player movement. From the defending-champion Toronto Raptors to just about every other team in the league, change was the most applicable word when it came to describing team rosters for the 2019-20 season. With the opening of training camps just around the corner, NBA.com's Shaun Powell will evaluate the state of each franchise as it sits today -- in order of regular-season finish from 2018-19 -- as we look at 30 teams in 30 days. * * * Today's team: Denver Nuggets 2018-19 Record: 54-28, lost in the second round of the playoffs Key additions: Jerami Grant, forward (trade); Bol Bol, forward (draft). Key subtractions: Trey Lyles, forward; Isaiah Thomas, guard. The lowdown: The steady growth of the Nuggets was evident in a 50-win season and a first-round victory in the playoffs over the more-experienced Spurs, which was clearly a step forward; then the journey ended with a sour taste after Denver lost a Game 7 at home to a lower seed, the Blazers. In all, the Nuggets received almost everything they’d hoped for from a developing contender, especially in the form of Nikola Jokic. The multi-skilled Serb established himself as the league’s most talented big man, if not the best period, with a stellar performance that attracted some MVP notice. He averaged 20 points, almost 11 rebounds and seven assists in an offense that ran through him, rare in today’s spread-the-floor league where centers are being phased out or pegged as role players and pick-setters. Jokic reminded many of Bill Walton or maybe Vlade Divac for his precise and sometimes entertaining passing skills from the high post. His co-star was Jamal Murray, who made generous strides as a leader and shot-maker and fit well with Jokic. The Nuggets also played some of the best defense in the league for much of the season and had solid back-court depth with Monte Morris and Malik Beasley averaging a combined 21 points off the bench. There were mixed reviews, however, from Gary Harris; the starting two-guard didn’t improve and in some areas actually regressed as he struggled with injuries in a 57-game season. Same for Will Barton, who shot 40 percent and played 43 games. But those were nit-picks. The Nuggets finally arrived after going a league-leading 34-7 at home, reaching the second round of the playoffs for the first time in a decade, and using the draft and trades to remake the roster over the last few years to stay in the attic in the very competitive West, which was no easy task. Summer summary: When an NBA team reaches a critical stage of the developing process and checks all the necessary boxes, it’s time to keep the continuity. Which means, time to pay up, and the Nuggets did just that this summer with two of their important figures: Murray and GM Tim Connelly, and both were easy calls. Murray went from a rookie who played behind Emmanuel Mudiay to a dependable, sometimes clutch-shooting guard in just three seasons. While he’s obviously the starter at the point for the Nuggets, Murray’s value lies in his flexibility; he can play off the ball and be just as valuable whenever Jokic assumes the “point-center” role. He averaged 18.2 points and 4.8 assists and showed growth despite struggling at times in his first postseason. He also doesn’t turn 23 until February. So the Nuggets gave him $170 million over five years, banking on his continued growth, which appears to be a safe investment. Therefore, Denver’s two most important players, Jokic and Murray, are under contract together for the next three seasons. Connelly replaced Masai Ujiri in 2013 and repaid the Nuggets’ faith by overseeing a basketball operation that has run mostly smoothly ever since. He drafted Jokic at No. 41 and hired Mike Malone as coach. The Nuggets have gone from 33 wins in Malone’s first season to 54. Even better, the meat of the roster is trending in the right direction and there’s no dead weight. This summer, the Wizards, after firing Ernie Grunfeld, chased after Connelly, a Baltimore native who attended college in D.C. Connelly broke into the business as an intern for the Wizards and has family ties to the D.C area, so the prospect of leaving Denver was a real threat. Ultimately, Nuggets boss Josh Kroenke was successful in persuading Connelly to stay. Usually that comes with a promise of a significant raise, but more importantly, Connelly saw what he’s building in Denver and couldn’t leave unfinished business. Denver has solid mix of youth and vets and is coming off a season where it was the No. 2 seed in the West. Hard to walk away from that. Paul Millsap also cashed in when the Nuggets agreed to pick up his 2019-20 option year for $30 million. There was some question whether the Nuggets would tie that much into a soon-to-be 35-year-old forward who, statistically anyway, is coming off his worst season since 2009-10 and his fewest minutes since 2008. But Millsap still brings a solid defensive mindset and experience, and anyway, the Nuggets were all about maintaining the flow this summer. Plus, Denver will remain under the luxury tax with with Millsap’s option. Millsap’s minutes could be reduced this season because the Nuggets traded for a more athletic option in Grant. With the Thunder, Grant improved his 3-point shooting last season and became more of a well-rounded forward. If used correctly by Malone, he can thrive in Denver, which badly needs his physical gifts. Of course, there’s also the wild card: Michael Porter Jr. The club’s first-round pick two summers ago sat all last season while recovering from a back issue, then was scratched from summer league play in July because of a minor knee issue which was more of a precautionary move. In a best-case scenario, Porter stays healthy and gives the Nuggets three options at power forward. Connelly didn’t have a first-round pick this summer but swung a deal to fetch a second-rounder once Bol Bol dropped to No. 44 in the draft. The son of former NBA player Manute Bol, he suffered a foot injury last season at Oregon and NBA teams were wary of his potential for recovery. Well, Connelly and the Nuggets will essentially treat Bol as they did Porter; Bol will be an injury red-shirt and prepare for 2020-21. And so, the Nuggets’ summer wasn’t about making wholesale changes, but keeping the pace they’ve set over the last three seasons and rewarding some of the key personnel responsible for it. Patience has allowed the Nuggets to get this far and so there was no reason to panic or rush the process this offseason. 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 NewsSep 15th, 2019

China exports spike to highest in two decades

BEIJING, China—China’s export growth jumped to the highest in over two decades, official data showed Sunday, with imports also surging in a sharp bounce-back from the coronavirus outbreak that had brought activity to a near halt......»»

Category: financeSource:  thestandardRelated NewsMar 7th, 2021

Palace: Phl economy to rebound with reopening of businesses

The Philippine economy would rebound this year, Malacañang said Thursday, after the country ended 2020 with its worst economic performance since it began releasing growth data in 1947. The Philippine Statistics Authority (PSA) reported that the Philippines’ gross domestic product shrank 9.5 percent last year, in what officials say is a result of the draconian […] The post Palace: Phl economy to rebound with reopening of businesses appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJan 28th, 2021

Good news after good news

These trade deals augur well in our goal of at least bringing the economy back to pre-pandemic days. The post Good news after good news appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJan 20th, 2021

Investors optimistic on strong recovery for earnings, stocks

MANILA, Philippines — After a nerve-wracking year marked by an unprecedented lockdown to contain a coronavirus (COVID-19) pandemic, investors are looking forward to a recovery in corporate earnings and stock prices this 2021. The main-share Philippine Stock Exchange index (PSEi) may rebound to 7,878 this year on the back of a 39.7 percent recovery in […] The post Investors optimistic on strong recovery for earnings, stocks appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsJan 4th, 2021

FocusEconomics sees strong rebound in Philippine trade figures

Barcelona-based think tank FocusEconomics is expecting a strong rebound in Philippine exports and imports over the next two years after a major slump this year as the pandemic took its toll on global trade......»»

Category: financeSource:  philstarRelated NewsDec 1st, 2020

The worst is over

The worst is over for the Philippine economy, says Bangko Sentral Governor Benjamin S. Diokno. Last Friday, he highlighted the recent balance of payments, dollar remittances, and foreign direct investment numbers to back his claim of an impending rebound in growth, from an 8-to-10 percent drop in economic output (GDP) this year in 2021, the worst in the last 30 years......»»

Category: newsSource:  thestandardRelated NewsNov 25th, 2020

Coaching great John Thompson of Georgetown dead at 78

By JOSEPH WHITE AP Sports Writer WASHINGTON (AP) — John Thompson, the imposing Hall of Famer who turned Georgetown into a “Hoya Paranoia” powerhouse and became the first Black coach to lead a team to the NCAA men’s basketball championship, has died. He was 78 His death was announced in a family statement released by Georgetown on Monday. No details were disclosed. “Our father was an inspiration to many and devoted his life to developing young people not simply on but, most importantly, off the basketball court. He is revered as a historic shepherd of the sport, dedicated to the welfare of his community above all else,” the statement said. “However, for us, his greatest legacy remains as a father, grandfather, uncle, and friend. More than a coach, he was our foundation. More than a legend, he was the voice in our ear everyday.” One of the most celebrated and polarizing figures in his sport, Thompson took over a moribund Georgetown program in the 1970s and molded it in his unique style into a perennial contender, culminating with a national championship team anchored by center Patrick Ewing in 1984. Georgetown reached two other title games with Thompson in charge and Ewing patrolling the paint, losing to Michael Jordan’s North Carolina team in 1982 and to Villanova in 1985. At 6-foot-10, with an ever-present white towel slung over his shoulder, Thompson literally and figuratively towered over the Hoyas for decades, becoming a patriarch of sorts after he quit coaching in 1999. One of his sons, John Thompson III, was hired as Georgetown’s coach in 2004. When the son was fired in 2017, the elder Thompson -- known affectionately as “Big John” or “Pops” to many -- was at the news conference announcing Ewing as the successor. Along the way, Thompson said what he thought, shielded his players from the media and took positions that weren’t always popular. He never shied away from sensitive topics -- particularly the role of race in both sports and society -- and he once famously walked off the court before a game to protest an NCAA rule because he felt it hurt minority athletes. “I’ll probably be remembered for all the things that kept me out of the Hall of Fame, ironically, more than for the things that got me into it,” Thompson said on the day he was elected to the Hall in 1999. Thompson became coach of the Hoyas in 1972 and began remaking a team that was 3-23 the previous season. Over the next 27 years, he led Georgetown to 14 straight NCAA tournaments (1979-92), 24 consecutive postseason appearances (20 NCAA, 4 NIT), three Final Fours (1982, 1984, 1985) and won six Big East tournament championships. Employing a physical, defense-focused approach that frequently relied on a dominant center -- Alonzo Mourning and Dikembe Mutombo were among his other pupils -- Thompson compiled a 596-239 record (.715 winning percentage). He had 26 players drafted by the NBA. One of his honors -- his selection as coach of the U.S. team for the 1988 Olympics -- had a sour ending when the Americans had to settle for the bronze medal. It was a result so disappointing that Thompson put himself on a sort of self-imposed leave at Georgetown for a while, coaching practices and games but leaving many other duties to his assistants. Off the court, Thompson was both a role model and a lightning rod. A stickler for academics, he kept a deflated basketball on his desk, a reminder to his players that a degree was a necessity because a career in basketball relied on a tenuous “nine pounds of air.” The school boasted that 76 of 78 players who played four seasons under Thompson received their degrees. He was a Black coach who recruited mostly Black players to a predominantly white Jesuit university in Washington, and Thompson never hesitated to speak out on behalf of his players. One of the most dramatic moments in Georgetown history came on Jan. 14, 1989, when he walked off the court to a standing ovation before the tipoff of a home game against Boston College, demonstrating in a most public way his displeasure against NCAA Proposition 42. The rule denied athletic scholarships to freshmen who didn’t meet certain requirements, and Thompson said it was biased against underprivileged students. Opposition from Thompson, and others, led the NCAA to modify the rule. Thompson’s most daring move came that same year, when he summoned notorious drug kingpin Rayful Edmond III for a meeting in the coach’s office. Thompson warned Edmond to stop associating with Hoyas players and to leave them alone, using his respect in the Black community to become one of the few people to stare down Edmond and not face a reprisal. Though aware of his influence, Thompson did not take pride in becoming the first Black coach to take a team to the Final Four, and he let a room full of reporters know it when asked his feelings on the subject at a news conference in 1982. “I resent the hell out of that question if it implies I am the first Black coach competent enough to take a team to the Final Four,” Thompson said. “Other Blacks have been denied the right in this country; coaches who have the ability. I don’t take any pride in being the first Black coach in the Final Four. I find the question extremely offensive.” Born Sept. 2, 1941, John R. Thompson Jr. grew up in Washington, D.C. His father was always working — on a farm in Maryland and later as a laborer in the city — and could neither read nor write. “I never in my life saw my father’s hands clean,” Thompson told The Associated Press in 2007. “Never. He’d come home and scrub his hands with this ugly brown soap that looked like tar. I thought that was the color of his hands. When I was still coaching, kids would show up late for practice and I’d (say) ... ‘My father got up every morning of his life at 5 a.m. to go to work. Without an alarm.‘” Thompson’s parents emphasized education, but he struggled in part of because of poor eyesight and labored in Catholic grammar school. He was moved to a segregated public school, had a growth spurt and became good enough at basketball to get into John Carroll, a Catholic high school, where he led the team to 55 consecutive victories and two city titles. He went to Providence College as one of the most touted basketball prospects in the country and led the Friars to the first NCAA bid in school history. He graduated in 1964 and played two seasons with Red Auerbach’s Boston Celtics, earning a pair of championship rings as a sparingly used backup to Bill Russell. Thompson returned to Washington, got his master’s degree in guidance and counseling from the University of the District of Columbia and went 122-28 over six seasons at St. Anthony’s before accepting the job at Georgetown, an elite school that had relatively few Black students. Faculty and students rallied around him after a bedsheet with racist words was hung inside the school’s gym before a game during the 1974-75 season. Thompson sheltered his players with closed practices, tightly controlled media access and a prohibition on interviews with freshmen in their first semester -- a restriction that still stands for Georgetown’s basketball team. Combined with Thompson’s flashes of emotion and his players’ rough-and-tumble style of play, it wasn’t long before the words “Hoya Paranoia” came to epitomize the new era of basketball on the Hilltop campus. Georgetown lost the 1982 NCAA championship game when Fred Brown mistakenly passed the ball to North Carolina’s James Worthy in the game’s final seconds. Two years later, Ewing led an 84-75 win over Houston in the title game. The Hoyas were on the verge of a repeat the following year when they were stunned in the championship game by coach Rollie Massimino’s Villanova team in one of the biggest upsets in tournament history. Success allowed Thompson to rake in money through endorsements, but he ran afoul of his Georgetown bosses when he applied for a gambling license for a business venture in Nevada in 1995. Thompson, who liked playing the slot machines in Las Vegas, reluctantly dropped the application after the university president objected. Centers Ewing, Mourning and Mutombo turned Georgetown into “Big Man U” under Thompson, although his last superstar was guard Allen Iverson, who in 1996 also became the first player under Thompson to leave school early for the NBA draft. “Thanks for Saving My Life Coach,” Iverson wrote at the start of an Instagram post Monday with photos of the pair. The Hoyas teams in the 1990s never came close to matching the achievements of the 1980s, and Thompson’s era came to a surprising and sudden end when he resigned in the middle of the 1998-99 season, citing distractions from a pending divorce. Thompson didn’t fade from the limelight. He became a sports radio talk show host and a TV and radio game analyst, joining the very profession he had frustrated so often as a coach. He loosened up, allowing the public to see his lighter side, but he remained pointed and combative when a topic mattered to him. A torch was passed in 2004, when John Thompson III became Georgetown’s coach. The younger Thompson, with “Pops” often watching from the stands or sitting in the back of the room for news conferences, returned the Hoyas to the Final Four in 2007. Another son, Ronny Thompson, was head coach for one season at Ball State and is now a TV analyst. ___ Joseph White, a former AP sports writer in Washington who died in 2019, prepared this obituary. AP Sports Writer Howard Fendrich contributed......»»

Category: sportsSource:  abscbnRelated NewsNov 15th, 2020

PH eyes modest $31-M export deals at China expo participation

The Philippine delegation is targeting to attract over 1,300 buyers and generate a modest  $31 million worth export deals at the upcoming China International Import Expo (CIIE),  significantly lower than the $300 million the Philippines realized during last year’s China International Import Exposition (CIIE). Trade and Industry Secretary Ramon M. Lopez said the apparently lower sales target this year may mean on the spot deals only and may not include post CIIE sales attributed to said expo. “Factoring also that this year is Pandemic year. This is a hybrid show this year, where the goods are displayed but negotiations are done via the online B2B facility.  The target is also based on the reduced pavilion size this year, as well as the projected decrease in the number of buyers attending CIIE this year,” said Lopez. Philippine mango and pili nuts are among the products that will be showcased under the FOODPhilippines Pavilion. Already, DTI’s Export Marketing Board and the Center for International Trade Expositions and Missions (CITEM) facilitated initial talks with the Philippine delegation and 40 Chinese buyers in a video conferencing. These Chinese buyers are importers, distributors, and retailers. During last year’s CIIE, Philippine exhibitors booked around $300 million in sales at the second CIIE, more than double the $124 million recorded sales in 2018. This year’s third CIIE will be held on Nov. 5-10 in Shanghai. In the B2B session, Chinese buyers expressed interest in working together with Philippine companies that produce fresh fruits and vegetables, chocolates, healthy snacks, seafood, beverages, and condiments.  For this hybrid participation, there will be a mix of physical product presentation in the pavilion that will be facilitated by onsite officers from the DTI trade posts in China and online B2B matching activities between our companies in Manila and the Chinese buyers who will visit the Philippine booth in Shanghai, according to CITEM Executive Director Pauline Suaco-Juan. With the theme “Healthy and Natural,” 40 Philippine companies will exhibit and sample the country’s wide range of tropical fruits and vegetables, processed fruits and nuts, healthy snacks, seafood and marine products, and other premium food selections. The FOODPhilippines pavilion will feature interactive conference pods for the first time in CIIE to enable virtual business-to-business (B2B) activities and video conferencing. In place of actual Philippine exhibitors manning the booths, Philippine Commercial Counsellors will represent the government and exhibitors, promote exhibitor brands and products onsite, and relay all business leads and contacts generated during the show. The participation in CIIE is organized in partnership with the Foreign Trade Services Corps (FTSC) through the Philippine Trade & Investment Centers (PTICs) in Beijing, Shanghai, Guangzhou, and Hong Kong, and the Export Marketing Bureau (EMB). Government partners are the Department of Agriculture (DA) through the Office of the Agricultural Counsellor in Beijing (DA-OAC-Beijing) and the Department of Foreign Affairs (DFA). The Philippine mango and pili nuts are among the products that will be showcased under the FOODPhilippines Pavilion.project is likewise supported by business associations such as the Philippine Exporters Confederation, Inc. (PHILEXPORT) and the Federation of Filipino-Chinese Chambers of Commerce & Industry, Inc. (FFCCCII).          Leading the FOODPhilippines’ opening in CIIE are representatives from the Philippines and China, namely the Philippine Ambassador to China Jose Santiago Sta. Romana, Philippines’ DTI Secretary Ramon M. Lopez, FFCCCII President Dr. Henry Lim Bon Liong, and Deputy Director General Yang Weiqun from the Department of Asian Affairs of China’s Ministry of Commerce (MOFCOM). Under the FOODPhilippines delegation, 40 companies that will highlight tropical fruits and vegetables will be Hilas Marketing Corporation, Agrinurture, Inc., Mancoco Food Processing, Inc., Excellent Quality Goods Supply Company, Castillo Import Export Ventures Inc., Doxo International Trading, Magsasakang Progresibo Marketing Cooperative, See’s International Food Mfg, Corp., Century Pacific Agricultural Ventures, Inc., Team Asia Corporation, Eau de Coco, Inc., Eng Seng Food Products, Greenlife Coconut Products Philippines, Inc., Tongsan Industrial Development Corporation, Islandfun Inc., Limketkai Manufacturing Corporation (LMC), KLT Fruits, Inc., Zigmund Enterprise, Business Innovations Gateway, Inc., Sangkutsa Food Products, Inc., AG Grays Farm, Marigold Manufacturing Corporation, and the Federation of People’s Sustainable Development Cooperative. To show its goodwill to the Chinese market, the Philippine delegation will donate healthy products to Food Bank China as part of the launch of the Shanghai Food Bank Project with Liwayway China on November 5. The donation will include 200 packs of banana chips from Excellent Quality Goods Supply Company, 50 tuna packs of premium handline tuna from Century Pacific Food Inc., and bundles of virgin coconut oil (VCO) and various coconut products from Team Asia Corporation. The food donation to the Food Bank China serves as a way of giving back and a token of appreciation to the Chinese community for its continued support towards the Filipino representatives and communities in China, according to Commercial Vice Consul Mario Tani of the PTIC in Shanghai. Meanwhile, healthy snack varieties will be showcased by Magic Melt Foods Inc., Sandria’s Delicious Concept, Vegetari Vegetarian Products, Market Reach International Resources, SL Agritech Corporation, and the Philippine Franchise Association. Tuna and other seafood selections will be presented by Century Pacific Food Inc., Universal Canning, Inc., Fisher Farms, Incorporated, Jam Seafoods, Inc., Phil. Union Frozen Foods, Inc., and Gerabuenas Trading. Likewise, premium food selections will be offered by Global Basic Co., Ltd, Subic Superfood Incorporated, Chocoloco, Inc., Filipinas de Oro de Cacao, Inc., and Seabeth Food Processing......»»

Category: newsSource:  mb.com.phRelated NewsNov 8th, 2020

Exports growth begins a slow trade revival in September

Exports returned to growth in September but a downtrend in imports persisted, albeit at a slower pace, reflecting an economy that is slowly coming out  a pandemic-induced shock......»»

Category: financeSource:  philstarRelated NewsNov 4th, 2020

Trade deficit dips to $14.61 B in 8 months

The country’s trade deficit dropped in August as imports slowed at much faster pace than exports, data from the Philippine Statistics Authority (PSA) showed. The gap in the trade balance, which is the difference between the value of export and import, reached $2.07 billion in August, lower by 31 percent from $3 billion in the same month last year. The August performance brought the country’s first eight-month trade deficit to $14.61 billion, lower by 46 percent compared with P27.07 billion in same period last year. Meanwhile, total export sales in declined anew, marking its sixth consecutive month of negative growth, to $5.1 billion from $6.3 billion last year. Of the top 10 major exports of the country, eight posted an annual declines, with gold (-31.3 percent); electronic products (-20.1 percent); and fresh bananas (-19.4 percent). Despite the double-digit decline, electronic products remained the country’s top export with $2.93 billion, accounting for 57.1 percent of the total. It was followed by other manufactured goods with $267.14 million, and other mineral products with $218.65 million. Exports to Japan comprised the highest value at $887.38 million, or 17.3 percent of the total, followed by the United States with $751.68 million, People’s Republic of China with $732.57 million, Hong Kong with $724.27 million and Singapore with $330.67 million. In January to August, the total export earnings amounted to $39.29 billion, down by 16.6 percent from $41.3 billion in the same period in 2019. For 16th straight month in August, the country’s imports remained at the downtrend, registering  an annual decline of 22.67 percent to $7.2 billion from $9.31 billion a year ago. All major imports of the country contracted during the month. The fastest deceleration was in transport equipment (-50.5 percent), mineral fuels, lubricants and related materials (-47.7 percent); and miscellaneous manufactured articles (-28.3 percent). In August, China was the country’s biggest supplier of imported goods at $1.82 billion, followed by Japan with $623.69 million, US at $517.77 million, Singapore at $495.11 million, and South Korea at $493.11 million. At end-August, the total imports reached $53.9 billion, down by 27 percent compared with P74.2 billion in the same period last year......»»

Category: newsSource:  mb.com.phRelated NewsOct 9th, 2020

Trade remains negative in August as coronavirus shocks linger

Lackluster trade activity continued to hound the Philippines in August on the back of persistent pullback in both imports and exports, a symptom of an economy still struggling to recover from coronavirus shock......»»

Category: newsSource:  philstarRelated NewsOct 9th, 2020

Automakers sue US gov’t over tariffs on Chinese imports

Major automakers Tesla, Volvo, Ford and Mercedes Benz have sued to the US government over tariffs on Chinese goods, demanding customs duties paid on imports be returned, with interest. The lawsuits were filed over the past days in the New York-based Court of International Trade and concern tariffs imposed by the US Trade Representative on […] The post Automakers sue US gov’t over tariffs on Chinese imports appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsSep 24th, 2020