After winning title, time for LA Tenorio to give back to Batangas folk View comments Sports Related Videospowered by AdSparcRead Next Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Don’t miss out on the latest news and information. OAKLAND, CA – DECEMBER 25: LeBron James #23 of the Los Angeles Lakers looks on from the bench after he was hurt against the Golden State Warriors during the second half of their NBA Basketball game at ORACLE Arena on December 25, 2018 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. Thearon W. Henderson/Getty Images/AFPSACRAMENTO, Calif. — LeBron James was held out of the Lakers’ game against the Sacramento Kings on Thursday night with a groin injury, ending his consecutive games played streak at 156.James was injured during the Lakers’ 127-101 victory over two-time defending NBA champion Golden State on Christmas when he slipped while going for a loose ball.ADVERTISEMENT Japeth Aguilar embraces role, gets rewarded with Finals MVP plum Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award LATEST STORIES Phivolcs: Slim probability of Taal Volcano caldera eruption James Harden’s 45 lead Rockets over Celtics ‘Mia’: Rom-com with a cause a career-boosting showcase for Coleen Garcia An MRI showed that James suffered a left groin strain rather than a tear, but no timetable has been set for his return. Lakers coach Luke Walton said the team will take a cautious approach with the four-time MVP.“It’s one of those things we want to make sure he’s healthy before we get him back out there,” Walton said Thursday. “That could be an injury where if you come back too early you re-injure it and then you’re out longer. We’ll be careful and cautious when he starts playing again.”FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissJames, who remained in Los Angeles while his teammates flew to Sacramento, has played in every game since the final game of the 2016-17 regular season, when he sat out to rest. His last extended absence due to injury was an eight-game stint to deal with back and knee aches midway through the 2014-15 season.James is averaging 27.3 points, 8.3 rebounds and 7.1 assists this season, his 16th in the NBA and first with the Lakers. MOST READ Ginebra beats Meralco again to capture PBA Governors’ Cup title No.13 lucky for Orlando Bloom Nadine Lustre’s phone stolen in Brazil
Foreign exchange crisisPumping foreign currency into the market will not solve the crisis facing the local economy, according to economist Irfaan Ali.The Opposition Member of Parliament said in order to address the problem in the long run, Government must implement policies which stimulate export sectors that generate foreign revenue.He said the recent move by the Bank of Guyana to intervene in the foreign exchange market validated the position that the foreign exchange market was not clearing.Opposition MP Irfaan Ali“It took some time for the Bank of Guyana and Minister of Finance (Winston Jordan) to accept the bitter reality that businesses are unable to access foreign currency and were placed in queues when they approached the cambios. However, as the good book says ‘confession is always good for the soul’,” Ali said in a statement to Guyana Times.However, the MP, who is also Chairman of the Public Accounts Committee (PAC) in Parliament, said while intervention by the central bank would address the prevailing market imbalances, it could only serve to provide temporary ease.“This measure cannot and should not be treated as a permanent or long-term solution to the turbulence in the foreign exchange market. A permanent solution requires measures that would ultimately increase the supply of foreign currency as well as reduce pressures on the demand for foreign currency,” he explained.ControlsAli pointed out that the foreign exchange market, referred to as the cambio system, was established in the early 1990s after the adoption of the Economic Recovery Programme (ERP). In this market, buyers and sellers can trade foreign currencies at market determined prices in accordance with Dealers in Foreign Currency Licensing Act, No 19, of 1989.According to the Act, cambios are permitted to buy, hold and sell foreign currency, and are also allowed to determine the buying and selling rates and display these prices in a prominent position at their business places. The only restriction for cambios is they are not allowed to borrow, lend and accept deposits. Given the legal framework governing the trade in foreign currencies, market prices are expected to be determined by demand and supply conditions.Therefore, Ali argued that the action by the Bank of Guyana to directly control the bid-ask spread (that is, the difference between the buying rate and the selling rate) and force cambios to trade (buy and/or sell) and hold currency could, therefore, be regarded as a subtle form of bullyism and was certainly illegal.He explained that the supply of foreign currency is derived primarily from the export of our major commodities, namely rice, sugar, bauxite, gold, and timber. The other major sources of foreign currency include: workers’ remittances, short-term inflows, Foreign Direct Investments, long-term foreign loans and grants.Poor performanceBased on the 2017 Budget speech, the foreign currency earnings from every major export, except gold, declined during 2016.The poor performance of the key export sectors may be linked directly to the actions of the A Partnership for National Unity/Alliance For Change (APNU/AFC) Government, he noted.“For instance, upon assuming office, the coalition disbanded the Petro-Caribe deal which provided a guaranteed market for rice at preferential prices. To date, the same Government has failed to find alternative markets or re-negotiate the Petro-Caribe deal to help the rice sector. The forestry sector, on the other hand, witnessed sharp decline because of the deliberate efforts of the coalition Government to expel some export companies,” he stated.Moreover, the economist predicted that the decline in export revenue from key sectors was likely to persist in 2017 and beyond. He noted that this was due to the decreased investment in the key export sectors given the unfavourable business climate and onerous taxes that increase the operating cost of export businesses.DemandMeanwhile, the demand for foreign currency is driven by imports, Ali highlighted. Available forecasts suggest that imports will increase further over the next five years by an annual average of 6.8 per cent. It, therefore, means the demand for foreign currency will increase in the near future.But given the contraction in supply of foreign currency and demand pressures, the market participants anticipate continued shortage of foreign currency.“Consequently, they will buy and hold rather than dispose the foreign currency they acquire. This practice is only rational and not necessarily driven by any evil or devious intentions,” Ali explained.“The market is experiencing excess demand for foreign currency, that is, the demand for foreign currency is outstripping the supply. This is evidenced by the continuous complaints from members of the Private Sector that they’re unable to access foreign currency and are placed in queues,” he stated.Ali said at best, any injection of foreign currency by the central bank may only serve to partially satisfy the demand by those currently waiting in the queues to settle outstanding payments.However, he said such an injection would not address the fundamental supply problem in the market and would hardly discourage the market participants from buying and holding.“This behaviour will persist until the market participants are confident that supply of foreign currency will improve to satisfy their demands. In other words, like rational investors, the market participants will buy and hold foreign currency once the export sector – which is responsible for the supply of foreign currency – continues to limp along to the graveyard,” he stated.Ali reiterated that the prevailing crisis in the market, therefore, could not be addressed by merely pumping foreign currency in the market.He reasserted that the only viable solution was to stimulate the export sectors.
Louis van Gaal is confident Marcus Rashford will cope with his new-found fame, saying the Manchester United teenager’s attitude matches the remarkable aptitude displayed over the past week.The 18-year-old has gone from relative unknown to one of the country’s most feted players in a matter of days, having been given a surprise first-team opportunity last Thursday.Anthony Martial’s hamstring complaint ahead of the Europa League tie with FC Midtjylland saw Rashford thrown in a the deep end – an opportunity the striker capitalised on in style, netting twice as United won the do-or-die last-32 second leg 5-1.As if that was not enough, Rashford netted another double at Old Trafford on Sunday as title-chasing Arsenal were defeated 3-2 – a fairytale that could be continued if Martial fails to recover in time for Wednesday’s match with Watford.“First, I think that the media have to let him in peace and rest,” Van Gaal said of Rashford.“When you are in front of his house and that kind of stuff, I don’t think that is beneficial for a boy of 18 years old.“Give him the time also to be 18 years old and we shall guide him also in that way, but he is a very modest guy so I don’t think that shall be the problem.“But of course when you have so much attention of the media, it can go in another way, but I believe that he shall keep his feet on the ground.“Too much attention is not always easy to deal with,” the United boss added. “And, of course, it is remarkable and I can understand that you are praising him, but he still has to show his consistency.”Van Gaal is doing his best to help Rashford deal with his new status, along with the other four youngsters handed a United debut last week.That focus on youth has been borne out of necessity due to United’s lengthy injury list, although Martial, Chris Smalling and Matteo Darmian could return and add more experience for Watford’s visit.Wednesday’s Barclays Premier League match offers United the chance to extend their winning run to four matches in all competitions, but those hoping for more touchline dramatics from Van Gaal look set to be disappointed.Much of the talk after the win against Arsenal was about Van Gaal hitting the deck during a bizarre touchline spat with fourth official Mike Dean, when the United manager attempted to illustrate his frustration at Alexis Sanchez’s supposed diving. The 18-year-old has gone from relative unknown to one of the country’s most feted players in a matter of days The footage has gone viral and it is not the first time the Dutchman has gone over the top on the sidelines, which he compared to his touchline high-kick when Ajax coach during the 1995 Champions League final following a challenge by AC Milan defender Marcel Desailly on Jari Litmanen.“It was too emotional and that’s why you have to deal with the fourth referee, and the referee and the authority of referee,” he said of the most recent incident.“I think that I have to control my emotions, like I say to my players always.“That is why I have apologised but I don’t feel sorry for it because it is me. I think at that time maybe I was right.”Sunday’s colourful outburst certainly appeared to warm the hearts of some doubters, with a rare chorus of ‘Louis Van Gaal’s red and white army’ heard at Old Trafford.“It is not part of my philosophy because I don’t think you can influence the game from that spot,” he said, when asked if he would return to the touchline.“I know (I can influence the fans from there) but I am not a clown, I am Louis van Gaal. I am a human being, a professional manager.“Part of my philosophy is that my players have to think on the pitch and not the manager, but I want to help them.“Sometimes I help them with these actions or something like that, but I help them more to train in the brain with what I have said – and I have been training already for 18 months – (so) that they see the solutions on the pitch.“That’s why I am not dong that because I have the experience that you cannot influence the game. The players can influence the game by themselves.” 2 2
Liverpool have signed midfielder Georginio Wijnaldum from Newcastle in a £25million deal.The Holland international is believed to have signed a five-year contract, and Liverpool will pay an initial £23million with a further £2million in conditional add-ons.Wijnaldum will travel to Palo Alto in California to join his new team-mates on their tour of the United States over the weekend.The 25-year-old is manager Jurgen Klopp’s seventh signing of the summer, following Loris Karius, Joel Matip, Marko Grujic, Sadio Mane, Ragnar Klavan and Alex Manninger to Anfield.Wijnaldum scored 11 goals in 38 league appearances in his maiden season in England, however Newcastle were relegated.On the prospect of working with Klopp, Wijnaldum told liverpoolfc.com: “(He seems) a great man – from the outside – because I don’t know how he works yet and I have to work with him.“(But) I always love to watch him, his passion as a trainer, I like how he enjoys the game. He gives something back to the group (with his passion) so I look forward to working with him.”Klopp is also keen to start working with the Dutchman, which is why he is flying out almost immediately to join the rest of the squad.“I think he can be a great player for us,” said the Reds boss.“He has already shown some really good moments in his career but the most exciting and important thing for me and my staff is that there is still so much extra to come from him.“When I talked to him I could tell that he knows we have to work together to get this level out of him to all be successful for the team.“He has played a lot for his country already, been captain at a young age in Holland and also been involved in a tough Premier League season so this experience gives him a good foundation for the challenge here – which everybody knows is huge.“He can play a few positions for us and players that come through the Dutch system usually have a good tactical understanding and flexibility. That’s really important.“I can’t wait to get him on the training pitch and for the fans to see him play in a Liverpool shirt.” Georginio Wijnaldum 1
AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREPettersson scores another winner, Canucks beat Kings 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! St. Paul High School tried for its first CIF-SS football title since 1981 on Friday when the Swordsmen took on Palmdale High’s Fighting Falcons in the Western Division championship game at St. Paul. St. Paul, coached by Pete Gonzalez, brought a 9-4 record into the game. The school in Santa Fe Springs make its eighth appearance in a CIF-Southern Section football title game, but first since 1998. The Swordsmen have won three football titles in their history. Palmdale brought a 12-1 record into the game and had won 12 straight games. This was the school’s second appearance in a CIF-SS title game. The Fighting Falcons lost in the 2003 finals. La Habra High School also took the field Friday night. The Highlanders played Fullerton High’s Indians for the Southeast Division championship at the Santa Ana Bowl. Both teams play in the Freeway League, but their Oct. 26 league game was canceled because of poor air quality caused by the Southern California wildfires. As a result, they were league co-champions. La Habra, coached by Frank Mazzotta, brought a 12-0 record into the game. This was the Highlanders’ fifth appearance in a CIF-SS football title game. They won championships in 2003 and 2004. Fullerton brought a 9-3 record into the game against their league rivals. For more visit our Prep Sports section.
Ulster manager Paula Cunningham along with her selectors Gary Mallon, Micheal Naughton and John Joe Brady have named a 30 strong panel to defend the MMI Interprovincial trophy this weekend in Kinnegad.Five Donegal players have been named in the panel.Linda Martin (Monaghan)Sharon Courtney (Monaghan)Sinead Greene (Cavan)Caoimhe Morgan (Armagh)Aoife Mc Donnell (Donegal)Donna English (Cavan)Ciara Hegarty (Donegal)Caroline O’ Hanlon (Armagh)Neamh Woods (Tyrone)Ellen Mc Carron (Monaghan)Ciara Mc Anespie (Monaghan)Cathriona Mc Connell (Monaghan)Caoimhe Mohan (Monaghan)Kyla Trainor (Down)Roisin O’ Keeffe (Cavan)Laura Gallagher (Donegal)Aisling Doonan (Cavan)Grainne Mc Nally (Monaghan)Joanne Geoghan (Monaghan)Niamh Hegarty (Donegal)Shannon Quinn (Tyrone)Geraldine Mc Laughlin (Donegal)Aimee Mackin (Armagh)Cathy Donnelly (Tyrone)Kelly Mallon (Armagh)Laura Mc Eneaney (Monaghan)Grainne Smith (Cavan)Cora Courtney (Monaghan)Lauren Mc Conville (Armagh)Grainne Mc Glade (Cavan) LADIES FOOTBALL: FIVE DONEGAL PLAYERS NAMED IN ULSTER SQUAD was last modified: May 18th, 2015 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Inter-provincialLadies FootballUlster
vs. SHSU Live Stats vs. BCU Live Stats Story Links vs. TSU Live Stats Print Friendly Version The Drake University volleyball team begins the 2018 season this weekend at the Sam Houston State Tournament in Huntsville, Texas. The Bulldogs are scheduled to play three matches in two days with contests against the hosts, Bethune-Cookman and Texas Southern. Action for the Bulldogs begins Friday evening at 6:30 p.m. against Sam Houston State. Following Friday’s match against the homestanding Bearkats, the Bulldogs face Bethune-Cookman Saturday at 9:30 a.m. followed by the tournament finale against Texas Southern at 3:30 p.m.The season-opening road trip will be a homecoming for three Bulldogs who hail from the Lone Star State. Senior and Missouri Valley Conference preseason all-conference selection Cathryn Cheek (Coppell, Texas), sophomore Natalie Fry (Allen, Texas) and transfer Callan Holmes (Lorena, Texas) all hail from Texas.Drake opens its season following one of the most successful seasons in school history in 2017 when the team posted a 23-10 record for its best finish since 2010 and third-most wins in a season. The team returns all but one starter from that squad and has added five talented newcomers to mix for 2018.The Bulldogs were projected to finish fourth in the MVC preseason poll coming off their fourth-place finish from 2017 in a league that has earned 30 bids to the NCAA Tournament since 2007, trailing only the Pac 12, Big Ten, Big 12, SEC, ACC & West Coast Conferences.Following this weekend’s season opener, the Bulldogs travel to the East Coast for the Holy Cross Invitational for matches against Columbia, Rhode Island and Holy Cross.
Red Bluff Top Fueler Varsity wrestlers placed at Orland Spider Patch Tournament. Gabe Crump, right, placed second, Tyler Peterson placed third and Adam Peterson placed second. Top Fueler Junior Varsity wrestlers placed in Corning PAL Tournament. Banion Dion placed third, Kyle Azevedo placed second, Corbin Domoe placed second and Julian Philips placed first. 175Care about your community? We do, too.Sign up for our Morning Report newsletter Something went wrong. Please try …
Tom Brady — fun dad or irresponsible father?The New England Patriots quarterback sparked an online debate over the weekend after posting an Instagram video of himself pulling off a daring stunt with his 6-year-old daughter in tow. Literally.In the video, Brady and daughter Vivian are seen jumping off a cliff and landing awkwardly in the water below. As of Monday afternoon, the video had been viewed nearly three million times, and many commenters were questioning Brady’s parenting skills …
23 May 2011 Brazil is a country more likely to conjure up images of beaches, samba and soccer than of people hard at work. Yet the tropical nation’s development bank has become an inspiring model to South Africa in its quest to boost industrial development. The idea that South Africa would look to a development bank in Brazil is even more significant when one considers that for years economists repeatedly wrote off the South American country as one of all talk and no action. But in the last decade or more, things have begun to change. Last year, Brazil grew 7.5% and this year it overtook Italy to become the world’s seventh-largest economy. Much of this growth is being driven by loans to businesses and infrastructure projects by Brazil’s development bank, BNDES. The bank has more than tripled its lending over the last five years, so much so that it is now one of the biggest development banks in the world – exceeding even the mighty World Bank. Last year, the Brazilian development bank lent out 168.4-billion reals (R733-billion) – more than double the World Bank’s US$44.2-billion (R306-billion) in disbursements for 2010. This has taken place while the Brazilian development bank last year posted a record profit of 9.9-million reals and a default rate of a mere 0.15%.IDC starts scaling up BNDES lending dwarves that of South Africa’s Industrial Development Corporation (IDC), which in the 2010 financial year disbursed R6.2-billion, posting a profit of R2.2-billion with a 16.3% impairments ratio. But the IDC too, is scaling up. Last month, Economic Development Minister Ebrahim Patel announced that the IDC would invest R102-billion in funding over the next five years – a 160% increase on the IDC’s loan approvals in the past five years. The IDC is now considering selling off some of its holdings – which include shares in major firms such as ArcelorMittal, Sasol and Kumba Iron Ore, among others – to finance the expected R36-billion shortfall in investment spending. It also hopes to inject more capital into small business lending – with the planned merger of Khula Enterprise Finance and the South African Micro Finance Apex Fund (Samaf) with the IDC’s small business funding portfolio to create a wholly-owned subsidiary under the IDC dedicated to funding small enterprises.A more powerful, strategic funding agency Brazil’s development bank has provided the IDC with several important lessons in how to create a more powerful and strategic funding agency – with Patel noting in June last year that his department is looking at emulating the success of BNDES. The Brazilian development bank’s use of funding from its Worker’s Assistance Fund – the equivalent of South Africa’s Workmen’s Compensation Fund – led the IDC to form a joint R2-billion funding scheme with the Unemployment Insurance Fund (UIF) launched last year. Shakeel Meer, the IDC’s divisional executive of corporate strategy, says the IDC is particularly interested in BNDES’ application of local content development – where the Brazilian development bank insists on a certain percentage of local suppliers or content when it hands out funding. Meer says insight into BNDES’ model had also led to the exposure to various industry specific financing schemes and methods, which has helped the IDC to formulate various financing schemes in recent years.International linkages The IDC has over the years, built strong links with a number of development banks around the world – such as the European Investment Bank, Germany’s KFW/DEG, France’s AFD/Proparco, Japan’s JBIC and the China Development Bank. The IDC first became interested in BNDES in 2005, after an IDC delegation visited its Brazilian counterpart to conduct an institutional benchmarking exercise. In a 2005 study by the IDC’s Jorge Maia and Lumkile Mondi, and economist Simon Roberts, found that BNDES was heavily involved in financing the Brazilian economy such that not a single major undertaking, involving private Brazilian capital after 1950, had taken place in Brazil without BNDES support. The authors also found that despite higher real interest rates in Brazil, BNDES had maintained better rates of investment than South Africa – partly because of the larger role that it plays in Brazil’s economy. They also found that financing at BNDES is closely linked to the bank’s strategic view of the economy and its practice of linking financing requirements to the promotion of local industrialisation. With relations between the IDC and BNDES growing closer, the two, in 2009, signed a technical co-operation agreement aimed at exchanging ideas on industrial strategy, financial products and co-operating in financing projects in Africa.Different operating environments However, Meer cautions that despite the similarity between the corporate mandates and origins, the operating environments and institutional funding models of each institution has evolved in a very different manner. For example, while BNDES has a near monopoly in Brazil’s long-term funding market, the IDC has to compete along side private-sector banks in South Africa. Another difference is that while the IDC has an almost exclusively direct funding approach, BNDES utilises an enormous network of financial intermediaries for indirect funding purposes, largely due to the specific characteristics of the Brazilian financial system. Meer says BNDES use of financial intermediaries accounts for its substantially lower defaults, since this is largely carried by the intermediaries. The IDC’s project development initiatives and its large equity portfolio also means the IDC is forced to assume a “substantially” higher degree of risk than BNDES, he said. Beyond the differences between the two banks, critics have questioned whether BNDES massive scaling up of finance is sustainable, pointing out that the bank’s funding is massively subsidised by Brazil’s treasury, which risks driving up inflation by releasing too much cheap money into the market. Meer however believes the expected increase in IDC financing would not have a negative effect on the South African economy, pointing out that the IDC’s funding activities complement those of the private financial sector. He says IDC also has cooperative funding arrangements with various domestic financiers. The IDC uses a pricing approach that considers both risk and development impact, he says. “In addition, from time to time, IDC introduces specific subsidised funds to promote targeted objectives,” he explains, adding that this was a similar approach to BNDES. The IDC also launched a lower interest rate offering this year which offers prime less three percent for projects with a high employment effect. Meer says the offer of lower interest rates within certain funding schemes is made possible by cross-subsidisation internally, as well as due to specific external funding arrangements with for example the UIF.Too much state control? Speaking to BuaNews recently, BNDES president Luciano Coutinho, disagrees with critics that believe the massive increase in funding by BNDES risks putting the state in too much control of the economy. “In our case there is no danger at all because our bank has a highly professional management and our non-performing loans are much lower than the private banking system,” Coutinho said. “We have a very competent bank and we understand that in order to have an efficient development bank we have got to be absolutely professional in terms of credit rating and independent decision making and we have to be accountable and transparent. “Those are pillars of good governance, because if you don’t have good governance you can’t be a good development bank, because we manage public money so we have to be efficient in managing money.” Coutinho says developing funding priorities was an important step to boosting the role of any developing finance bank and notes that the IDC has already developed priorities such as funding infrastructure development, food security (through loans to agro-processing companies) and the green economy. Last year about 93%, or 568 000, of BNDES funding disbursements were to micro, small and medium-sized companies as well as individuals – with 320 000, or half of all its funding operations were through the BNDES Card – which is a hybrid of an e-commerce and credit card financing system. About R$4.3-billion was disbursed through the card to SMEs – 74% up on 2009. He believes the card might be a product that South Africa could learn from BNDES and that the bank could make available in its technical co-operation agreement with the IDC. Source: BuaNews