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AC Energy signs up plastics producer as retail customer

AC Energy Inc., the power unit of Ayala Corp., has signed up a new customer under its retail electricity business which now covers over 100 megawatts (MW) in supply......»»

Category: financeSource: philstar philstarOct 17th, 2018

ERC reiterates opposition to SC order

A Supreme Court-issued restraining order against the retail competition and open access (RCOA) scheme is hampering competition and customer choice, the Energy Regulatory Commission (ERC) said. In a document provided to reporters, the regulator said that while it was complying with the temporary restraining order (TRO) issued in February this year, it had “been unable [...] The post ERC reiterates opposition to SC order appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsOct 20th, 2017

Oil producers see oversupply, eye cutting output

ABU DHABI, United Arab Emirates -- Major oil producers said Sunday that crude supply next year would outstrip demand, calling for new strategies based on production adjustments. Khalid al-Falih, Energy Minister of the world's top supplier Saudi Arabia, said the kingdom would cut its production by 500,000 barrels per day. Russia, the world's second-biggest producer, said it would commit to any new agreement among producers to cut output. Meeting in Abu Dhabi to examine how to curb a sharp slide in oil prices, the producers said they "reviewed current oil supply and demand fundamentals and noted that 2019 prospects point to higher supply growth than global requirements." Th...Keep on reading: Oil producers see oversupply, eye cutting output.....»»

Category: newsSource:  inquirerRelated NewsNov 12th, 2018

2 oil exploration contracts awaiting Duterte s signature – Cusi

MANILA, Philippines – Two oil exploration contracts are already in Malacañang waiting for President Rodrigo Duterte's signature, with one of them likely to be signed with China state-owned oil producer China National Offshore Oil Corporation (CNOOC). This was announced by Energy Secretary Alfonso Cusi on Wednesday, November 7, during a ........»»

Category: newsSource:  rapplerRelated NewsNov 7th, 2018

Duterte signs EO on foreign investment limitations

President Rodrigo Duterte has signed the 11th Foreign Investment Negative List. Duterte signedExecutive Order No. 65 on October 29, which specified areas of economic activity where foreign ownership is prohibited by the Constitution or laws. Mass media Practice of professions Retail trade enterprises with paid up capital of less than US$2, 5000, 000 Cooperatives Organization and operation of private detective, watchmen, or security guard agencies Small-scale mining Utilization of marine resources in archipelagic waters, territorial sea and exclusive economic zoneas well as small-scale utilization of natural resources in rivers, lakes, bays and lagoons Ownersh...Keep on reading: Duterte signs EO on foreign investment limitations.....»»

Category: newsSource:  inquirerRelated NewsOct 31st, 2018

West take notice: Lakers top unbeaten Nuggets

By Shaun Powell, NBA.com LOS ANGELES -- There are foreign roads to navigate, traffic to curse and weather to bless. Change can be a mixed bag, even for LeBron James, and we haven’t yet mentioned his other new and complex surroundings, meaning, teammates to break in. There’s also a third layer to this unfamiliar skin, and this could be the most uncomfortable of them all. Yes, if LeBron and the Lakers are to deliver more than just must-see TV for insomniacs around most of the country, they must find a way to flex muscle in the Western Conference. As LeBron has already discovered, he ain’t in Kansas anymore. Actually, make that Orlando, Charlotte, Brooklyn, etc., etc., etc. For a superstar who doesn’t take nights off, well, he can’t afford to do so anyway in the West, where there’s seemingly another potential 50-game winner staring from the other bench. That’s what Thursday (Friday, PHL time) was all about, planting concern into the heads of the elite teams of the West and making them notice what’s taking place in Los Angeles. The Nuggets came into Staples Center undefeated and left with some clues about what LeBron and the Lakers can be in the near future, after they deal with the early bonding process. “Growth that’s continuing to happen,” is how Lakers coach Luke Walton described it. LeBron had his first triple-double as a Laker and given the circumstances -- no Rajon Rondo or Brandon Ingram, both suspended, for a second straight game -- they delivered their most impressive 48 minutes of the season with a 121-114 win. “The first couple of games when we fell behind, we stayed behind,” said LeBron, noting how the Lakers seized control from the Nuggets for good late. “The best teacher in life is experience.” These are the type of games he will see more frequently than he did with the Cavaliers and Heat. For someone who spent his entire career in the East, the upgrade in competition will force LeBron and the Lakers to sharpen their learning curve. Already the West shows few signs of fall-off from a year ago when 10 teams finished with winning records; because only the top eight make the playoffs, the remaining two had to go home, wishing they were in the East. It’s a small sample size so far, yet once again, it’s business as usual in the better conference: The Warriors remain the class of the conference and league, with all the usual suspects that delivered three championships in four years accounted for. OK, sure, Klay Thompson might need to dispatch his trusty dog Rocco to search for his missing jumper. But: Did you see Steph Curry drop 51 on the Wizards the other night? Well, then. What’s interesting and most frightening about the Warriors is how they’re still a few months from suiting up DeMarcus Cousins, who has advanced to light work and dropping sweat in non-contact drills. Last season’s West runner-ups, the Rockets, are obviously missing the perimeter defense and shooting of Trevor Ariza, who signed with the lowly Suns (purely a money-grab for him). Meanwhile, Carmelo Anthony is shooting 26 percent from deep and straining while trying to keep this from becoming an extension from his Oklahoma City stop. Also: James Harden is dealing with a tweaky hamstring and Chris Paul, fresh from wiping Rajon Rondo’s DNA off his face, his serving out a suspension. Yet this will not last long; already, Rockets GM Daryl Morey is up to his tricks, scheming to trade a plate of Texas brisket to the Timberwolves for Jimmy Butler. If Morey pulls that off, the Rockets will have three All-Stars in their starting five, second only to the Warriors. LeBron must beware of Rondo’s old team, which is playing like it isn’t missing Rondo as much as some folks were led to believe. The New Orleans Pelicans is flourishing with a breezy style that’s a carryover from their surprising second-round run in last spring’s playoffs, with Niko Mirotic putting up more points than Anthony Davis and ex-Laker Julius Randle fitting right in next to AD. Speaking of the unexpected, the Spurs with DeMar DeRozan off to a good start could make it 22 straight playoff appearances after all the changeover and injuries. And Pat Beverly said the Clippers are the best team in LA; take that for what it’s worth, but it shows you that nobody is rolling out the red carpet for the Lakers just because they added LeBron. The Nuggets missed the playoffs on the final regular season day last season and they’re perhaps wiser for it. Nikola Jokic is making his top-three center case and Denver’s defense is rating No. 1 in efficiency. What they saw Thursday (Friday, PHL time) was a controlled and efficient game from LeBron (28 points, 11 rebounds, 11 assists); Lonzo Ball strip Jamal Murray in the open floor for one of his five steals; former Warriors role player JaVale McGee actually getting 16 shots and doing something with it with 21 points; and highly entertaining energy from Lance Stephenson off the bench. Nuggets coach Mike Malone was an assistant from 2005-10 in Cleveland and therefore saw the LeBron Effect first-hand in those formative years. “Sure, the West is tougher,” Malone said, “but also this is his first time playing with all those guys. As he said, this will take time. It doesn’t happen overnight, just as it didn’t last year in Oklahoma City when they brought in Paul George and Carmelo Anthony and everybody thought they were going to be great right away. Playing with LeBron isn’t easy. It easy, but it isn’t easy. When we traded for guys like Wally Szczerbiak, he comes in and says `I’ve never been this open in my life.’ He had a hard to making shots because he was so open. “LeBron is bringing all those guys confidence up. Josh Hart, Kyle Kuzma, they’ll be better off for it. He’s a great player and slowly the team will round into form. My definition of greatness is, what can you do for everyone around you? Can you take them to new heights? And he has done that repeatedly throughout his career. He’s doing the same thing now in LA.” A week into the season tells us this about the Lakers: They’ve played four of their five games against playoff teams, winning only one but taking the other three well into the fourth quarter. They’re two missed LeBron free throws from a winning record. LeBron is MVP-like and sturdy as ever, and the other pieces are slowly dropping into place. Whether it’ll be good enough to make traction in a tough conference will take months to sort out. Yes, the West is better. But that’s also because the Lakers fueled by LeBron, no longer the post-Kobe pushovers, are better as well. 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 NewsOct 26th, 2018

PHL signs oil exploration deal with Israel’s Ratio Petroleum

THE Philippines on Wednesday formally awarded a petroleum service contract (PSC) to Israeli firm Ratio Petroleum Ltd. for the exploration of an area in the east Palawan basin, a move which the Energy department said bodes well for country’s upstream petroleum industry. The post PHL signs oil exploration deal with Israel’s Ratio Petroleum appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsOct 18th, 2018

PH signs deal with Israeli firm for oil exploration east of Palawan

MANILA, Philippines – The Philippines has signed an oil exploration deal with Israeli firm Ratio Petroleum Ltd, allowing the company to explore for oil and gas resources in an area east of Palawan. The Petroleum Service Contract (PSC) was signed by President Rodrigo Duterte, Energy Secretary Alfonso Cusi, and Ratio ........»»

Category: newsSource:  rapplerRelated NewsOct 18th, 2018

Sears files for Chapter 11 bankruptcy amid plunging sales, massive debt

NEW YORK --- Sears filed for Chapter 11 bankruptcy protection Monday, buckling under its massive debt load and staggering losses. The question now is whether a smaller version of the company that once dominated the American retail landscape can remain viable or whether the iconic brand will be forced out of business. Sears, which started as a mail order catalog in the 1880s, has been on a slow march toward extinction as it lagged far behind its peers and incurred massive losses over the years. "This is a company that in the 1950s stood like a colossus over the American retail landscape," said Craig Johnson, president of Customer Growth Partners, a retail consultancy. "Hopefu...Keep on reading: Sears files for Chapter 11 bankruptcy amid plunging sales, massive debt.....»»

Category: newsSource:  inquirerRelated NewsOct 15th, 2018

Vivant units sell 48% stake in renewable energy firm

CEBU-BASED Vivant Corp. said on Friday that two of its subsidiaries sold their shares in a northern Luzon renewable energy company that has an independent power producer (IPP) administrator contract with the government. The post Vivant units sell 48% stake in renewable energy firm appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsOct 12th, 2018

ERC to act on customer complaints vs Iloilo cooperative

The Energy Regulatory Commission has vowed to act on customer complaints against Iloilo’s utility firm Panay Electric Co., which is seeking to renew its franchise and refund customers about P34 million in overpayments......»»

Category: financeSource:  philstarRelated NewsOct 5th, 2018

GBP forges retail power supply contract with Robinsons Land

GLOBAL Business Power Corp. (GBP) said its unit in retail electricity had signed a power supply agreement with Robinsons Land Corp. (RLC) under the Energy Regulatory Commission’s (ERC) retail competition and open access (RCOA) scheme......»»

Category: financeSource:  bworldonlineRelated NewsSep 26th, 2018

Saudis shift own oil diet to supply buyers who are shunning Iran

By Bloomberg As impending U.S. sanctions squeeze Iranian oil supplies, top OPEC member Saudi Arabia is changing its own crude diet to meet customer demand for alternative cargoes. The trading arm of state-run producer Saudi Aramco is said to be offering an ultra-light oil known as Khuff condensate, a rarely traded grade that’s typically processed in […].....»»

Category: financeSource:  bworldonlineRelated NewsSep 26th, 2018

China s economy showing weakness as investment growth hits new low

The Chinese economy revealed fresh signs of softness Friday with data showing the pace of investment slowing to record lows while retail spending and industrial production stabilized. Beijing faces.....»»

Category: newsSource:  philippinetimesRelated NewsSep 16th, 2018

US ‘likely’ has taken over as the world’s top oil producer

      The United States may have reclaimed the title of the world's biggest oil producer sooner than expected.   The U.S. Energy Information Administration said Wednesday that, based on preliminary estimates, America "likely surpassed" Russia in June and August after jumping over Saudi Arabia earlier this year.   If those estimates are right, it would mark the first time since 1973 that the U.S. has led the world in output, according to government figures.   The energy information administration and the International Energy Agency, a global group of oil-consuming nations, had predicted that the U.S. would eventually pass Russia...Keep on reading: US ‘likely’ has taken over as the world’s top oil producer.....»»

Category: newsSource:  inquirerRelated NewsSep 13th, 2018

DoE rolls out inflation buster

The Department of Energy (DoE) has worked closely with oil firms in pursuit of mitigating measures that would help consumers cope with rising electricity prices. Following consultation meetings, ten oil companies with 1,317 total participating retail stations now offer discounts from P1 to P3 to public utility vehicles (PUV). These include Caltex, Filpride, Jetti, Petron, […].....»»

Category: newsSource:  tribuneRelated NewsSep 11th, 2018

PBA: Energetic Standhardinger runs away with Player of the Week honors

Tireless San Miguel Beer rookie big man Christian Standhardinger secured his first Cignal-PBA Press Corps Player of the Week following his impressive conference debut in the 2018 Governors’ Cup against NLEX. Just a few hours after landing in Manila following his stint with Gilas Pilipinas in the Jakarta Asian Games, the 6-foot-8 Standhardinger suited up the moment he arrived at the Smart-Araneta Coliseum. His presence no doubt energized a San Miguel side that missed the services of four-time league Most Valuable Player June Mar Fajardo. The Cebuano slotman came in with a protective boot due to a right shin fracture he sustained in the Commissioner’s Cup. But the Beermen hardly needed the services of the SMB star center as Standhardinger pumped in a PBA career-high 36 points, to go along with 11 rebounds as the Beermen clobbered the NLEX Road Warriors, 125-112 on Saturday. The hard-banging Standhardinger showed no signs of fatigue though he was just a day removed from registering 27 points and 13 rebounds for Gilas in its 54-point rout of Syria to finish fifth place in the Asian Games. Instead, the former Nebraska and Hawaii standout came out with a lot of energy, making his first six attempts on the way to finishing 14-of-17 from the field in close to 28 minuets of action. Standhardinger won the weekly citation after beating Ginebra forward Japet Aguilar, Magnolia guard Mark Barroca, Jio Jalalon and Rome dela Rosa, Phoenix forward Jason Perkins, TNT’s Jayson Castro and NLEX’s Ken Ighalo......»»

Category: sportsSource:  abscbnRelated NewsSep 5th, 2018

Oil firms oppose shift to Euro 2 diesel

INDEPENDENT oil companies are opposing the directive of the Energy department to make Euro 2 diesel available at their fuel retail stations, saying the move would require “significant” spending for a problem of the government’s doing. The post Oil firms oppose shift to Euro 2 diesel appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsAug 20th, 2018

AC Energy signs deal to build solar power plants in Vietnam province

AC Energy, Inc. and its Vietnamese partner have signed an engineering, procurement, and construction (EPC) contract and a financing deal to develop of solar power plants in Vietnam’s Ninh Thuan province, its parent firm Ayala Corp. told the stock exchange on Monday. “We are excited to scale up our development initiatives in Vietnam. We expect […] The post AC Energy signs deal to build solar power plants in Vietnam province appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsAug 13th, 2018

DA s 2018 NBA Offseason Rankings: The Middle 10

By David Aldridge, TNT Analyst Wonder what the rental market is like in San Luis Obispo, Calif. San Luis Obispo is, give or take a few miles, one of the closest cities that is near the midway point between Los Angeles and San Francisco. Given the events of the NBA’s offseason, it’s not hare to imagine national reporters are going to be spending a lot of time in California next season, bouncing back and forth between the Bay and L.A. Catch LeBron James and the Lakers on Wednesday and then, Stephen Curry, Kevin Durant and the Warriors on Thursday. The Western Conference only got stronger and deeper with James leaving Cleveland for a second time, this time to go to the Lakers. Add four of the top five Draft picks -- including No. 1 overall selection Deandre Ayton (Phoenix Suns), No. 2 pick Marvin Bagley III (Sacramento Kings) and international phenom Luka Doncic (No. 3 pick, acquired by Dallas Mavericks) -- going to Western Conference teams, and the talent disparity between conferences only seems greater. But did Eastern Conference teams take advantage of Cleveland deflating to make their teams better? And how effective were West teams in making their teams better prepared to at least compete with the Warriors? That’s where this year’s Offseason Rankings come in -- big, bold, definitive. You love them, if the amount of hate tweets and e-mails I get after they’re published are any indication. Every year, we rank how all 30 teams have done since the end of their respective seasons. We look at everything -- how they drafted, what trades they made, what players they signed in free agency, and for how much -- or if they didn’t participate in free agency much at all. We look at if they’ve changed coaches, executives, owners, or if they’re moving into a new building that can generate big revenues. And you have to decide which ones you liked the most. Here's what these rankings ARE NOT: A predicted order of finish for next season. It's an opinion that seeks to answer a question: is the team better now than at the end of last season? The ranking reflects the belief on whether, and how much, that is so. (I liked certain guys who were in the Draft more than others, so if your team took them, I probably weighed it more positively. Doesn't mean I'm right.) I do not expect the Suns, for example, to have a better record than the Celtics, just because they had a better summer. It is not a ranking of the teams in order from 1 through 30 right now; I do not believe the Mavericks are now a better team than Rockets. This is just one person’s opinion about offseason moves -- offseason moves only. Is your team better now than it was before? - If your team is ranked in the top 10, it doesn't mean I love your team.       - If your team is ranked in the bottom 10, it doesn't mean I hate your team. It's an opinion that seeks to answer a question: is the team better now than at the end of last season? The ranking reflects the belief on whether, and how much, that is so. (I liked certain guys who were in the Draft more than others, so if your team took them, I probably weighed it more positively. Doesn't mean I'm right.) What plays into the rankings: - This isn’t science. It’s an educated guess, weighing the impact both of the Draft and free agency, but also assessing whether teams got value in their free-agent signings. Overpaying the right player is as much a sin as signing the wrong player. A good new coach can coax some more wins out of a roster. But if a team’s players don’t believe in the system their team uses, the best Xs and Os on earth don’t matter.       - Teams that are rebuilding obviously have different priorities than teams making a championship push. That's factored in. So Chicago, for example, gets credit for adding young, affordable players as it stockpiles its talent -- but that talent has to fit together, as Wendell Carter Jr. does with Lauri Markannen. And a team like the Warriors that shows it’s willing to go deep into the luxury tax -- which most teams try to avoid -- in order to keep winning has to be commended, and its rankings reflect that commendation.       - Continuity matters here as well. The most successful teams usually not only identify a core group of players, they keep them together for a while, finding that sweet spot: everyone doesn’t get a max contract, but most get paid well enough to keep the train moving down the tracks. That reflects both good roster construction and good financial management -- and, again, is rewarded. The explosion in the cap means everyone has to spend; keeping your powder dry for another day doesn’t have as much cache as it used to. But you still have to manage your money wisely. Salary numbers, with a couple of exceptions, come from Basketball Insiders, whose Eric Pincus does the best job of anyone in the game of keeping track of all the moving financial parts, quickly and accurately -- which is why we use him at NBA TV during the Draft and free agency to tell us what the hell this all means. The Middle 10 * * * 11. TORONTO RAPTORS 2017-18 RECORD: 59-23; lost in Eastern Conference semifinals ADDED: Coach Nick Nurse; G Danny Green (acquired from Spurs); F Kawhi Leonard (acquired from Spurs) LOST: Former coach Dwane Casey; G DeMar DeRozan (traded to Spurs); F Alfonzo McKinnie (waived); C Jakob Poeltl (traded to Spurs) RETAINED: G Fred VanVleet (two years, $18.1 million) THE KEY MAN: Nurse. The former Raps assistant has extensive G League head coaching experience. But the NBA isn’t just about a coach’s Xs and Os acumen. We know Nurse can do that. But an NBA coach has to have command presence in a locker room not only full of millionaires, but full of Alpha males who have their own very strong opinions on how they should be used and how their teammates should help them. Nurse will have to show he can put his own stamp on a team that will have some new faces while still having extremely high expectations. THE SKINNY: You may well think Toronto should be higher, based on Leonard’s standing as a top-five player in the league when fully healthy. No matter what you think of DeRozan, a four-time All-Star, no one can realistically say he’s better than “The Klaw” when both are 100 percent. But, of course, we don’t know if Leonard’s 100 percent. And, trading DeRozan, who’d been the franchise’s biggest advocate during his nine seasons there -- and who had led the team to its greatest extended run of success ever -- is not a transaction without consequence for the Raptors. He helped get the best out of Kyle Lowry. He could help recruit free agents. And, the circumstances of his departure have not helped the franchise’s reputation. Still, this is a talent-based league, and Leonard has it. His and Green’s presence on the perimeter gives Toronto the chance to be a switching defensive monster -- and will help the Raptors be able to match up better with the likes of the Boston Celtics and Philadelphia 76ers in a late-May playoff matchup, as long as the Raptors’ young core in which it believes so strongly continues to play as well in reserve as it did last season. 12. MILWAUKEE BUCKS 2017-18 RECORD: 44-38; lost in first round ADDED: Coach Mike Budenholzer; G Donte DiVincenzo (No. 17 pick, 2018 Draft); G Trevon Duval; F Ersan Ilyasova (three years, $21 million); C Brook Lopez (one year, $3.32 million); F Pat Connaughton (two years, $3.2 million); LOST: Former interim coach Joe Prunty; G Brandon Jennings (waived); F Jabari Parker (signed with Bulls) RETAINED: None THE KEY MAN: G Eric Bledsoe. His departure from Phoenix early last season was messy. But once he got to Brewtown, Bledsoe solidified the Bucks at the point, averaging 17.8 points and 5.1 assists per game in 71 starts. At 28, Bledsoe faces the last year of his contract and will have to show a new coach he’s capable of running things long-term and playing alongside Giannis Antetokounmpo through the meat of his prime. THE SKINNY: Budenholzer’s arrival should coincide with an improvement in the Bucks’ defense, something that former coach Jason Kidd could never quite accomplish. Ilaysova’s return for a second tour in Milwaukee should help, with his celebrated charge-taking skill and Lopez’s still-substantial size a double-boon to Milwaukee’s interior D as the Bucks were bottom 10 last season in points allowed in the paint (47.4 per game). If the paint becomes a little tougher to traverse, the Bucks should finally able to use their substantial length on the wing to get back to create deflections and turnovers, and get out in transition, where Antetokounmpo and Friends do their best work and their most damage to the opposition. They’ll do so 41 nights a year for the next couple of decades in the 17,500-seat Fiserv Forum, the Bucks’ new arena that will open in early September with a concert and should pump new revenues into the Bucks’ bloodstream, giving them more financial wherewithal to keep “The Greek Freak” surrounded with high-quality talent. 13. UTAH JAZZ 2017-18 RECORD: 48-34; lost in Western Conference semifinals ADDED: G Grayson Allen (No. 21 pick, 2018 Draft); G Jarius Lyles; G Naz Mitrou-Long LOST: F Jonas Jerebko (waived) RETAINED: G Dante Exum (three years, $33 million); F/C Derrick Favors (two years, $37.6 million), G Raul Neto (two years, $4.4 million); F Georges Niang (three years, $4.9 million) THE KEY MAN: C Rudy Gobert. He’s a monster presence, the hub of the Jazz’s defensive wheel and the reigning Kia Defensive Player of the Year. And he has to take a step back in Utah next season for the Jazz to take the next step forward. He has to understand what Utah has in Donovan Mitchell and let that kid eat. Nobody in the league can do what Gobert does defensively. So embrace that and concentrate on that -- take the Draymond Green attitude about being the “defensive guy” on a great team (not that Jazz fans want you to do anything that Green does). Gobert’s handsomely paid and the DPOY award found him in Salt Lake City; there’s no small-market bias at work here. So let Mitchell and Joe Ingles carry the shooting/scoring load, let Ricky Rubio orchestrate, and snuff out opponent dreams at the other end, night after night. It’s what you were born to do. THE SKINNY: My God, Mitchell had a great rookie season. And Utah brought most of the band back from last season to provide advice and consent for him again, re-signing Favors, Exum and Neto each on very reasonable contracts. Doing so leaves Utah over the cap, still comfortably under the tax, and with nothing on the books that should raise an eyebrow financially. (Utah’s front office should handle my checking account for a while.) Anyway, no reason to expect any backsliding next season with the crew returning, though coach Quin Snyder will surely miss the counsel of his longtime friend Igor Kokoskov, off to run the Suns. 14. ATLANTA HAWKS 2017-18 RECORD: 24-58; missed playoffs ADDED: Coach Lloyd Pierce; F Justin Anderson (acquired from 76ers); G Kevin Huerter (No. 19 pick, 2018 Draft); C Alex Len (two years, $8.5 million); G Jeremy Lin (acquired from Nets); F Omari Spellman (No. 30 pick, 2018 Draft); G Trae Young (No. 5 pick, 2018 Draft) LOST: Former coach Mike Budenholzer; G Antonius Cleveland (waived); G Damion Lee (signed with Warriors); F/C Mike Muscala (traded to 76ers); G Dennis Schröder (traded to Thunder); G Isaiah Taylor (waived) RETAINED: C Dewayne Dedmon (picked up player option) THE KEY MAN: GM Travis Schlenk. The second-year executive will be judged on how well Atlanta uses its trove of Draft picks -- three firsts this year, three firsts next year, two firsts in 2022 -- the next few years. And, ultimately, the Hawks will live or die by whether Young or Luka Doncic becomes the bigger NBA producer. Schlenk’s chances of completing the rebuild may well ride on that. THE SKINNY: The Hawks’ roster teardown is nearing completion, but the renovated Philips Arena will come online faster than the team, which now needs Young to live up to all the hype after his one season at Oklahoma. He has incredible range and great potential, but he’ll be challenged every night to stay in front of the legion of great points in this league. Pierce, the former Sixers’ assistant, is going to have a very tough time melding all the newcomers with the small core of players who survived, including John Collins, Kent Bazemore, DeAndre' Bembry and Taurean Prince. 15. LA CLIPPERS 2017-18 RECORD: 42-40; missed playoffs ADDED: C Marcin Gortat (acquired from Wizards); G Shai Gilgeous-Alexander (No. 11 pick, 2018 Draft); F Johnathan Motley (acquired from Mavericks); F Mike Scott (one year, $4.3 million); F Luc Mbah a Moute (one year, $4.3 million), G Jerome Robinson (No. 13 pick, 2018 Draft) LOST: G Austin Rivers (traded to Wizards); C DeAndre Jordan (signed with Mavs); G C.J. Williams (waived) RETAINED: G Avery Bradley (two years, $24.9  million); C Montrezl Harrell (two years, $12 million); G Wesley Johnson (picked up player option); G Milos Teodosic (picked up player option) THE KEY MAN: F Tobias Harris. He was the key tangible piece of the Blake Griffin trade last season (the intangible being the unprotected first from Detroit in the deal that eventually became Gilgeous-Alexander after a Draft night trade with Charlotte). And Harris played quite well in his 32 games with the Clips, averaging 19.3 points and six rebounds per game. Those numbers could each well go up in a contract year and with few others outside of Lou Williams on the roster that can go get their own buckets. THE SKINNY: Amazing, but true: the Clipper player with the longest current tenure is … Wesley Johnson, who came aboard in 2015. “Lob City” is in the history books and change will be the norm here for a while, including next summer, when the Clippers expect to be a free-agent destination. The Clips did what they could with that not-insignificant restriction, but the best stuff was in the Draft, winding up with a potential long-term point in Gilgeous-Alexander and a two in Robinson that rocketed up the pre-Draft charts. Bradley’s on a very team-friendly and controllable contract, as is Patrick Beverley, whose modest 2018-19 salary isn’t guaranteed until January. Those two and Mbah a Moute can give coach Doc Rivers hope that he can get some stops on the perimeter, because while Gortat is still willing defensively and still takes a bunch of charges, he is not Jordan when it comes to rim protection. 16. BROOKLYN NETS 2017-18 RECORD: 28-54; missed playoffs ADDED: F/C Ed Davis (one year, $4.4 million); F Jared Dudley (acquired from Suns); F Kenneth Faried (acquired from Nuggets); G/F Treveon Graham (two years); F Rodions Kurucs (No. 40, 2018 Draft); F Dzanan Musa (No. 29 pick, 2018 Draft); G Shabazz Napier (two years, $3.7 million) LOST: F Darrell Arthur (traded to Suns); F Dante Cunningham (signed with Spurs); C Dwight Howard (waived); G Jeremy Lin (traded to Hawks); C Timofey Mozgov (traded to Hornets); G Nik Stauskas (signed with Blazers); G Isaiah Whitehead (traded to Nuggets) RETAINED: G Joe Harris (two years, $16 million) THE KEY MAN: Co-owner Joseph Tsai. The Alibaba executive and billionaire has 49 percent of the team, and can buy majority control from Mikhail Prokhorov by 2021. Until then, they’ll run the team jointly, so no matter Prokhorov’s ups and downs, Brooklyn’s financial spigot should never run dry. Tsai reportedly has designs on expanding the Nets’ brand further in China, just as Prokhorov believed the Nets had global reach. They didn’t, at least not the post-KG and Pierce squads. THE SKINNY: If you love Ed Davis like smart people who know basketball do, Brooklyn makes the top half by bringing the ex-Blazer in on a short deal. If he plays great, he’ll cost the Nets a pretty penny in 2019, but Brooklyn has to take chances on guys who can outperform their contracts. The only thing the Nets couldn’t do was take on more ’19 salary when they’ll be in line to potentially add two max players. Won’t be easy to lure the elites, but Brooklyn also has accumulated enough assets to be able to make uneven trades for salaries if need be. In the interim comes next season, with coach Kenny Atkinson needing to continue to develop diamonds in the rough like Graham, who Cleveland wanted and who will help the Nets at multiple positions. 17. CHICAGO BULLS 2017-18 RECORD: 27-55; missed playoffs ADDED: G Antonius Cleveland; C Wendell Carter Jr. (No. 7 pick, 2018 Draft); F Chandler Hutchison (No. 22 pick, 2018 Draft); F Jabari Parker (two years, $40 million) LOST: F Jerian Grant (traded to Magic); G Sean Kilpatrick (waived); G Julyan Stone (waived); F Noah Vonleh (signed with Knicks); G Paul Zipser (waived) RETAINED: G Antonio Blakeney; G Zach LaVine (matched four year, $78 million offers sheet from Kings) THE KEY MAN: G Kris Dunn. As the 24-year-old will be every season he’s in Chicago. The Jimmy Butler trade in 2017 yielded the pick that became Lauri Markannen, and he’s also a key piece to the Bulls’ future. But Chicago won’t ever get elevation again if Dunn doesn’t become an elite point guard in a league full of them. He showed signs last season that he could be just that, most notably a December in which Dunn averaged 14.9 points and eight assists, and the Bulls went 10-6. But a concussion in January derailed Dunn’s progress and his production fell sharply the rest of the season. THE SKINNY: Can Parker play the three, as the Bulls insist he can? There isn’t a ton of evidence suggesting so, and Parker’s hypothesis that he isn’t getting paid to play defense does not provide much comfort. But the Bulls will try him there alongside Markannen and rookie Carter Jr. in what would be a huge frontcourt. Almost $20 million annually for LaVine going forward is also a stretch, but less of one if LaVine comes all the way back from his 2017 ACL tear with a full training camp and season. Carter may be more important to the Bulls’ hoped-for resurgence than Parker and LaVine; the Duke big man has that much potential. 18. WASHINGTON WIZARDS 2017-18 RECORD: 43-39; lost in first round ADDED: C Thomas Bryant; G Troy Brown (No. 15 pick, 2018 Draft); F Jeff Green (one year, $2.5 million); C Dwight Howard (two years, $11 million); G Austin Rivers (acquired from Clippers); G Issuf Sanon (No. 44 pick, 2018 Draft) LOST: C Marcin Gortat (traded to Clippers); F Mike Scott (signed with Clippers) RETAINED: G Jodie Meeks (picked up player option); C Jason Smith (picked up player option) THE KEY MAN: Coach Scott Brooks. Entering his third season in Washington, Brooks keeps saying he wants the Wizards to defend and play fast. But he has to follow that up with action, especially when and if John Wall doesn’t provide the on-ball defense Washington needs to have any chance to unleash a still-potent fast break. Wall is 27 and, if healthy, in his prime. The team takes almost all of its cues from him; when he’s locked in, the Wizards can compete with anyone. But when he’s indifferent, so are they -- as evidenced by their horrible record against bad teams. Brooks has to demand Wall’s best, or be ready to limit his minutes. THE SKINNY: NBA protocol almost demands you hate the pickup of Howard, such is his current perceived valued among many after multiple stops the last few seasons. The guess here is that Howard won’t hijack the Wizards’ locker room, as he had been accused of while in with the Houston Rockets and Charlotte Hornets, especially. Howard’s skill set can help Washington, which fell off defensively last season. But there’s also not much sense he’ll be a significant pick-me-up in D.C., either. He can’t stretch the floor and he’s not especially potent finishing in pick and roll, either. But the Wizards should at least be deeper off the bench with Green, who played well for the Cavs last season, and Rivers, who gives Washington legit guard depth along with Tomas Satoransky. 19. SACRAMENTO KINGS 2017-18 RECORD: 27-55; missed playoffs ADDED: F Nemanja Bjelica (three years, $20.4 million); C Marvin Bagley III (No. 2 pick, 2018 Draft); G Yogi Ferrell (two years, $4.1 million); G Ben McLemore (acquired from Kings); F Deyonta Davis (acquired from Grizzlies) LOST: G Garrett Temple (traded to Grizzlies) RETAINED: G Iman Shumpert (picked up player option); C Kosta Koufos (picked up player option) THE KEY MAN: F Harry Giles. The Kings traded for the one-and-done forward on Draft night 2017 and redshirted him, feeling he needed a year to fully recover from the multiple knee surgeries he’d undergone the last three years. Those surgeries stopped his top-five Draft potential in its tracks, before and after a year at Duke. But Giles is back on the floor, having flashed his skills during NBA Summer League, as Sacramento gushed about his progress. If the 20-year-old is ready to roll come October, he could be an enormous boost. He’ll have to at least become a contributor, lest folks remind the Kings they passed on the likes of Kyle Kuzma and O.G Anunoby to trade for his rights. THE SKINNY: Bagley III has superstar potential, and he better become one, or the Doncic Stans among the Kings’ fan base will have aneurysms. The Kings were all over everyone, seemingly, this summer, dropping sheets on Zach LaVine, almost doing the same with Marcus Smart and Jabari Parker, and going after unrestricted free agent Mario Hezonja. All well and good, and getting Bjelica out from under Philly and prying Ferrell from Dallas were decent late July pickups. But it will be Bagley III who’ll be under the microscope. His skill sets are prodigious and he’s been working out feverishly all summer. And he wants to make a mark in restoring the Kings to where they were on the floor during the Webber Years. He worked out for them. He’s enthusiastic about them. That counts for something. 20. HOUSTON ROCKETS 2017-18 RECORD: 65-17; lost in Western Conference finals ADDED: G Michael Carter-Williams (one year, $1.5 million); G De'Anthony Melton (No. 46 pick, 2018 Draft); F Vincent Edwards (No. 52 pick, 2018 Draft) LOST: F Trevor Ariza (signed with Suns); Luc Mbah a Moute (signed with LA Clippers); C Chinanu Onuaku (traded to Mavs) RETAINED: C Clint Capela (five years, $90 million); G/F Gerald Green (one year, $2.3 million); G Aaron Jackson (picked up team option); G Chris Paul (four years, $159 million) THE KEY MAN: Jason Biles, Joe Rogowski, Keith Jones and Javair Gillett -- the Rockets’ athletic trainers, sports performance and rehab staff. Their only mission next season, should they decide to accept it, is to get Paul through an 82-game regular season and a two-month playoff slog without breaking or pulling anything of importance that keeps him out of key games. Of course, should any of the staff be unsuccessful, the Morey will disavow any knowledge of their employment. Good luck, men. THE SKINNY: We have not yet included Carmelo Anthony, who will be signing in Houston any minute now. When he’s officially on the roster, he’ll certainly help, and we all saw that even Houston can go through extended scoring droughts in the playoffs. Having Anthony around should alleviate that. The Rockets may have had the best signing of the summer, keeping the 24-year-old Capela locked up long-term for $18 million per -- incredible value these days, given the way salaries are skyrocketing. But that was mitigated by the losses of Ariza and Mbah a Moute, who were crucial to the switching defense Houston employed and perfected by the playoffs, which threw sand in the gears of the Warriors’ impenetrable offense and would likely have propelled the Rockets to The Finals if Paul hadn’t gotten hurt in Game 5. Ennis and Carter-Williams will help some in that regard, but they don’t have the resume of Mbah a Moute and Ariza -- which means they sometimes won’t get the benefit of the doubt from refs that the old heads do. Houston’s still the clear number two to Golden State in the West, but the gap between the Rockets and the best of the rest has closed. Longtime NBA reporter, columnist and Naismith Memorial Basketball Hall of Famer David Aldridge is an analyst for TNT. 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 NewsAug 8th, 2018

Meralco posts 14% rise in 2018 first half profit

Power distribution giant Manila Electric Co. (Meralco) reported a 14 percent jump in first half profit to P11.97 billion, largely due to the continued increase in energy volume sold and customer count......»»

Category: financeSource:  philstarRelated NewsJul 30th, 2018