Tuesday, August 9, 2016

Century Pacific nets P1.36B

LEADING canned food company Century Pacific Food Inc. (CNPF) grew its first half net income by 46 percent to P1.36 billion, driven by robust demand for its branded food products.
For the second quarter alone, net income amounted to P725 million, a 46 percent growth from last year and a 14 percent increase from the quarter before.
Year-to-date revenues grew by 15 percent to P13 billion. Second quarter revenues also grew by 3 percent compared to the first three months of the year.
 
 
Top line growth across our 3 M’s – Marine, Meat, and Milk – continues to be driven almost completely by increases in volume.These can be attributed to our various sales and marketing campaigns, plus a strong local economy boosted by electionspending,” said CNPF’s Chief Finance Officer Oscar Pobre.

PSEi rises on upbeat US jobs data

THE LOCAL stock barometer firmed up just below the 8,000 mark on Monday, drawing strength from regional markets which were buoyed by upbeat US jobs data.
The Philippine Stock Exchange index gained 23.23 points or 0.29 percent to close at 7,993.58.
Across the region, stock markets were lifted by reports that US non-farm payrolls for July had risen by 255,000 while the June increase was revised upward to 292,000. The data exceeded market expectations.
The PSEi was led higher by the financial, industrial, holding firm and property counters while the services and mining/oil counters slipped.

Value turnover for the day amounted to P6.98 billion.
Despite the PSEi’s slight gain, market breadth was negative as decliners (100) outnumbered advancers (90). There was P260 million in net foreign selling for the day. The market is now on its second week of the so-called “ghost month,” a period when investors typically tend to be more cautious in investing.
Investors picked up shares of Megaworld and Metrobank, which both rose by over 3 percent while AP, BPI, GTCAP, AC, BDO, MPI and SMIC contributed modest gains.
Outside of the PSEi, notable gainers included Cebu Air (+3.39 percent) and DNL (+3.42 percent).
On the other hand, PLDT – the day’s most actively traded stock – fell by 1.91 percent while rival Globe also slipped by 0.89 percent. It was reported on Monday that the government was open to allowing a third telecom player to set up shop in the country

No license renewal, extension for PhilWeb






The Philippine government is set to deal embattled online gaming firm PhilWeb Corp. what could be a lethal blow, with the head of the state casino regulator saying the company should not expect a fresh government mandate when its operating license expires tomorrow.
In a text message, Philippine Amusement and Gaming Corp. Chair Andrea Domingo said the contract of the firm controlled by businessman Roberto Ongpin was set to end on Aug. 10, 2016, after having been provisionally renewed for a month.
“It will not be extended or renewed,” she said, adding that PhilWeb should cease operations in its 286 e-Games outlets nationwide starting on the following day, Aug. 11.
President Duterte has directed the government to clamp down on online gambling and has also singled out Ongpin as an “oligarch” whom he wanted to “destroy.” PhilWeb’s share price on the Philippine Stock Exchange (PSE) has dropped from P24.40 on the day Duterte took office to only P5.13 Monday, representing a decline of 79 percent over a six-week period.
The company’s shareholders have since then lost P26.7 billion worth of market capitalization and the firm was worth only P8.3 billion at the end of Monday’s trading session.
In response to the government’s clampdown, PhilWeb Monday said it has written Pagcor’s Domingo requesting for a meeting to clarify the situation.
“PhilWeb is merely a software provider to Pagcor for its network of e-Games outlets,” PhilWeb president Dennis Valdes said. “We are not online gaming. Our software cannot be played from homes or offices.”
Valdes also noted that each e-Games outlet is owned by an individual entrepreneur whose gaming license is issued by Pagcor directly to them. Each e-Games outlet therefore pays all taxes, as does PhilWeb itself.
“The e-Games network contributed a total of P2.1 billion to Pagcor in 2015 and over P14 billion in the past 14 years,” he added.
“We feel that President Duterte may have been misinformed,” Valdes said. “Thus, we are seeking the meeting with Domingo so that we may fully explain our side. As a publicly listed company, our records are fully open to public scrutiny and are available for a full investigation at any time.”
“I sincerely hope that the situation can be clarified,” he added. “Over 5,000 employees work in the e-Games outlets and it would be heartbreaking to see these people’s livelihoods affected. There are also over 1,500 stockholders in PhilWeb and many of these mom-and-pop investors cannot afford to have their savings wiped out overnight.”

Monday, August 8, 2016

Oil prices jump on rumors of Opec output freeze


NEW YORK, United States — Oil prices continued to rise on Monday, with benchmark crude moving up more than a dollar per barrel in both New York and London.
A barrel of West Texas Intermediate for September delivery gained $1.22, rising to $43.02 on the New York Mercantile Exchange.
In London, a barrel of North Sea Brent for October delivery also rose $1.12 to $45.39 on the Intercontinental Exchange.
READ: Oil prices up in Asian trade | Oil continues climb on mixed US data
Oil prices had a very bearish July, given recurring worries on the state of supply and inventories but have been rising for several trading days.
“The market continues to bounce,” said Gene McGillian of Tradition Energy. “We fell all the way to the $40 levels and the correction seemed to be a little extreme.”
“The market is refocusing on the expectations we’ll have a drop in North American production levels and the expected increase in global fuel demand,” said McGillian.
“Right now you see a covering rally,” he added, “and this triggers more buyers jumping in the market.”
According to Mike Lynch of Energy and Economic Research, oil markets may be reacting to rumors that the Organization of Petroleum Exporting Countries may freeze output levels.
“The rumors OPEC is considering a freeze are giving a little bit of impetus to the bulls,” he told AFP. “Not sure it will last very long but for now, that’s the only news that’s really up there.”

French gymnast’s horrific leg break chills gymnastics arena


RIO DE JANEIRO — French gymnast Samir Ait Said landed awkwardly on a vault, and a sickening snap echoed throughout the arena. A split second later, he was clutching his contorted left leg, his tibia fractured and his Olympics over.
Said was trying to fly over the vault and complete two backflips in a pike at men’s qualifying Saturday. The injury highlighted the dangers of a sport that steps into the world’s spotlight every four years and led some to question if the current scoring system is making gymnasts push themselves too far.
Said was attempting his second vault when he crumpled. He used one hand to hold his leg just below the knee and put the other one to his head as he grimaced in pain in the moments just after the fall. Medical personnel rushed to help him, placing him on a stretcher and carrying him off the podium to loud applause from the crowd.

“It is catastrophic … our mental state is very bad but we each have a target and we have to carry on for ourselves,” teammate Cyril Tommasone said.
The International Gymnastics Federation moved away from the 10.0 scoring system a decade ago, favoring a new format that splits each gymnast’s score into two parts. The first score is based on the difficulty of skills a gymnast completes. The second score is based on how well they execute them.
Many gymnasts try to pack as many skills into their routine as they can to pile up points. German gymnast Fabian Hambuechen, a four-time Olympian and two-time medalist on high bar, wonders if the sport has become almost too dangerous, with gymnasts attempting skills they haven’t yet mastered, a stark contrast from the old system that put an emphasis on perfection instead of daring.
“It’s a pity that gymnastics developed like that,” Hambuechen said. “It’s always more, more difficulty, more risk, higher. Everyone wants new records and stuff so it’s getting dangerous. That’s what really is annoying. I don’t like the system anymore. So I hope that it will change after Rio again.”
He misses the days before the difficulty score was implemented and thinks returning to the old scale would make things safer for the athletes.
“I’m one of the guys who still loves the 10.0,” he said. “That was a simple system. It was like everyone had the chance to get the high score of 10.0 with different ways. Now everyone knows if you want to have a high “D” score you have to do these skills and these skills are sometimes too dangerous for some people.”
French team leader Corrine Moustard-Callon didn’t have many details on Said’s injury, but lamented the terrible way his Olympics ended after years of hard work.
“He made a technical mistake,” Moustard-Callon said. “He is in the hospital with a doctor now. We will give more news when we have it. We don’t know what happened, except that it was his tibia. We will do more exams to see if it is just the bone.”
Said’s injury wasn’t the only one that ended Olympic hopes. Germany’s Andreas Toba tore the anterior cruciate ligament in his right knee during the floor exercise.
“I cried like a little kid,” Toba said. “The injury on my knee is big, but the emotional injury is way bigger.”
Toba competed in the pommel horse after the injury, a gutsy move that impressed his teammates and the crowd.
“That was amazing,” Hambuechen said. “It’s an honor to have someone like him on the team.”
Many of the gymnasts who were competing in the same division were jarred by Said’s injury, but none were particularly surprised. While the dangers of contact sports like football are constantly talked about, people sometimes don’t think about the risks gymnasts take when propelling their bodies through the air.
“Everybody knows gymnastics is the hardest sport in the world,” American gymnast Danell Leyva said. “And if you don’t know it, you don’t know about gymnastics

Former WWE champion Charlotte eyes main event in PPV


 
 

                                                                                                                                                                                        
One may think that Charlotte’s wrestling influence came from his father, “Nature Boy” Ric Flair.
But that isn’t the case, as the former WWE Women’s Champion shared that she drew a lot of inspiration from her peers, specifically the group “Four Horsewomen.”
“I learned from the other Four Horsewomen,” she told INQUIRER. “For me, I took pieces from the three of them because they made me more passionate about what we do. I took pieces from Becky (Lynch), I took pieces of Bayley, I took pieces of Sasha (Banks), and that’s kind of how I learned and who I wanted to be.
 
Charlotte, alongside Banks, Lynch, and Bayley, came up the ranks and developed a bond with each other off-screen, branding themselves as the “Four Horsewomen,” a homage to the elder Flair’s influential faction back in the 1980s. All four women became primetime players in the women’s division of the developmental ranks before Charlotte, Banks, and Lynch were all called up to the main roster.
“I didn’t have any wrestling experience prior to NXT. I’m NXT homegrown,” said Charlotte. “I grew up playing volleyball, and this is what they wanted to be their whole lives. I could honestly say that I took pieces from them.”
That’s why it’s such a great honor for Charlotte to face off against Banks and Lynch for the WWE Women’s Championship at WrestleMania 32 in front of a capacity crowd inside the AT&T Stadium in Dallas.
“Believe it or not, a year exactly to the day before Mania, we were doing that three-way match in front of 30 people. So everyone was asking how nervous was I before the match. Honestly, I wasn’t nervous being in the ring with them just because that’s who I trained with and grew up with in the business,” she said. “It was more of just what it was going to be like walking down that ramp. It’s that moment that you dream about over and over. It wasn’t the match or the outcome, it was just wanting to live in the moment because it may never happen again.”
Charlotte also has benefitted from having her father stand by her side for the better part of the year in her foray to the main roster.
Flair, the 16-time world champion, was a fountain of wisdom to his daughter that it allowed her to come to her own as she established herself as a main proponent in the WWE’s women’s division.
And Charlotte would not deny that she learned a lot from her legendary father, saying that the biggest lesson he taught was “to always be confident even when you’re not confident. Don’t let them know that you’re not. And always go there thinking you’re the best.”
With the WWE entering a new era, the women are also partaking in the revolution, being featured prominently more than it has ever been in the company. And Charlotte is one of those leading the charge, something which just leaves her at loss for words.
“You really can’t sum that up in one word. Right now, we have so many amazing talent in the better part of our division, and to be able to represent us as a whole means a lot. It’s a new era and we all look forward working together,” she said.
Charlotte hopes to continue the trend she and her fellow “Four Horsewomen” started in NXT: breaking barriers and making history.
“I want to main event a pay-per-view,” she said. “I’m looking forward to the brand split because more girls are going up and that’s exciting for them. But main eventing a pay-per-view is the number one focus. Hopefully, we’ll get to do that one day.”


      

Alaska IronKids a rousing success


LAPU-LAPU CITY—Perennial champions Wacky Baniqued and Tara Borlain again stamped their class in the boys’ and girls’ 13-14 categories of the highly successful 2016 IronKids Triathtlon Cebu held at Shangri-La’s Mactan Resort & Spa last Saturday.
Antiqued, unbeaten in local competition for the past six years, led from the swim start of the race and went on to atone for his second place finish to a Malaysian in the Singapore International Triathlon three weeks ago.
Borlain  was in second place through the swim and bike part of the race before wresting the lead in the run part from elder sister Samantha to rule her category.
The 2016 Alaska IronKids Triathlon Cebu is the culmination of the  Alaska IronKids series of races for boys and girls, 6 to 14 years old.
Other boys’ winners include Hyonde Keum (11-12 years old), Matthew Justine Hermosa (9-10) and Connor Hodges (6-8).
Other winners in the girls’ category include Catherine Angeli Yu (11-12 years old), Kira Ellis (9-10) and Franchezka Borain (6-8).
Other placers in the boys’ category include Joe Bernard Sarmiento (2nd, 13-14), Jose Manuel Arao (3rd, 13-14), Eduard Russell So (2nd, 11-12), Joco Miguelle Delizo (3rd, 11-12), Mark Grist (2nd, 9-10), Justin Christopher Yu (3rd, 9-10), Ythnmthw Orellana (2nd, 6-8) and Ryonde Keum (3rd, 6-8).
Other placers in the girls’ category include Samantha Borlain (2nd, 13-14), Karen Andrea Manayon (3rd, 13-14), Moira Frances Gabrielle Erediano (2nd, 11-12), Nicole Marie Del Rosario (3rd, 11-12), Isabella Diehl (2nd, 9-10), Mikele Katerina Jopson (3rd, 9-10), Zurielle Kenzie (2nd, 6-8) and Teya Aurelia Mora (3rd, 6-8).