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Wednesday, January 14, 2015

World Bank: Philippines can end poverty within a generation

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MANILA, Philippines (AP) — The World Bank said Wednesday the Philippines can eliminate poverty within a generation as sustained economic growth in recent years has translated into more jobs and higher incomes. The bank said in a report that more than a million jobs were created between October last year and October 2013, pulling unemployment down to a 10-year low of 6 percent. Real incomes of the bottom 20 percent of Filipinos grew much faster than the rest of the population and unemployment among the poor dropped. The government's program of conditional cash transfers is effective in reaching those most in need, the report said. Poverty has remained at high levels in the Philippines relative to some East Asian countries, reflecting a succession of corrupt governments in past decades and the country's vulnerability to natural disasters including typhoons. The bank forecasts the Philippine economy will expand 6.5 percent this year, slightly down its earlier forecast of 6.7 percent. It estimated full-year growth last year at 6 percent, down from an earlier forecast of 6.4 percent due to slower government spending and lower farm production. It said sustaining such high growth and accelerating reforms can lead to massive cuts in poverty and to wealth being shared by more people. Government data shows that about a quarter of the country's 100 million people have income of less than 18,935 pesos ($1,290) a year. "If growth is sustained at 6 percent per year and the current rate at which growth reduces poverty is maintained, poverty could be eradicated within a single generation," said Rogier van den Brink, a World Bank economist. Over the long-term, if growth is sustained at 6 percent per year, per capita income can double within a decade, grow five times in two decades, and increase 11 times in three decades, the report said. But it said a more aggressive approach to addressing stubbornly high underemployment in required. The report said changes needed include increasing investments in infrastructure, health and education; enhancing competition; simplifying regulations to promote job creation and protecting property rights to encourage more investments.

All tied up: No breakdown this time as SMB wallops Alaska

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Not this time. The San Miguel Beermen made sure there would be no collapse this time as they defeated the Alaska Aces 88-70 in Game 4 to turn the PBA Philippine Cup Finals down to a virtual best-of-three duel. The Beermen were dominant for most of the game as they quelled multiple Alaska rallies en route to an easy victory, Wednesday night at the Smart-Araneta Coliseum. After losing Games 1 and 3 where they led by 22 and 21 points, respectively, the Beermen finally figured out how to hold on to their huge lead in Game 4. Playing MVPs Arwind Santos and June Mar Fajardo in the third quarter, head coach Leo Austria kept his best players fresh for a possible Alaska comeback in the fourth quarter. The Aces tried to lean on Ping Exciminiano and Calvin Abueva to start their rally once more but it was not nearly enough to overhaul SMB’s huge lead this time around. Alex Cabagnot exploded for 22 points in the game to lead the Beermen after starting in the finals for the first time. Ronald Tubid added 13 while Chris Lutz, June Mar Fajardo, and Arwind Santos all added 11 apiece for a balanced San Miguel Beer attack. Abueva led Alaska once more with 22 points and seven rebounds but no other Ace scored in double digits. They got a combined 17 points off the bench from Ping Exciminiano and Vic Manuel but outside Abueva, Alaska’s starting five only chipped in a total of 10 points. Just like in Game 1, the Beermen started the game well as they built a 33-16 advantage after the first 12 minutes. They shot an outstanding 57% from the field and made six triples to erect a huge lead once again. The scoring slowed down considerably in the second quarter for SMB but Aces remained cold from the field. The Beermen ended the first half with a 10-2 run to erect a 49-26 lead. Largely absent in their first three games, Cabagnot played big for the Beermen in the first 24 minutes as he scored 16 points for the Beermen. Abueva paced the Aces with 12. The Beermen erected their biggest least of the ballgame at 55-26 after a basket from Doug Kramer, However, Alaska threatened several comeback attempts in the third quarter. Luckily for SMB, Ronald Tubid kept their heads above water as he scored nine points in the period. SMB head coach Leo Austria played a unique lineups in the third as Fajardo and Santos player only eight minutes combined in an effort to keep them fresh for the final quarter and the expected Alaska rally. The Beermen held a 73-49 lead after the third quarter as Tubid ended it with a putback. The Main Man: Cabagnot set the tempo of the game for the Beermen as he scored 16 points in the first half. With points coming from the point guard spot, things opened up for the rest of the Beermen. Honorable Mentions: Outside of Tubid getting 13 and Fajardo, Santos, and Lutz scoring 11 each, Marcio Lassiter also played well with 10 points while adding six rebounds and four assists. Game Turning Point: The Beermen were already up big in the third quarter when they unleashed a 13-0 run to build a 29 point lead at 55-26. Stat of the Game: Alaska got killed on the boards falling 53-35. This equated to a 19-4 advantage in second chance points. Next Game: Game 5 of Friday, January 16, at the Smart-Araneta Coliseum (7 pm) He Said It: SMB head coach Leo Austria: The main thing for this win is that we were able to sustain our energy. Our defense was there from start to finish. Na-match namin yung energy ng Alaska. It’s reduced for a best of 3 and Game 1 is very important in a best of three. We have the momentum pero yung respeto namin sa Alaska mataas. The scores: SAN MIGUEL 88 - Cabagnot 22, Tubid 13, Lutz 11, Fajardo 11, Santos 11, Lassiter 10, Kramer 6, Ross 2, Semerad 2, Omolon 0, Pascual 0, Maierhofer 0, Fortuna 0, Chua 0. ALASKA 70 - Abueva 22, Manuel 9, Exciminiano 8, Baguio 6, Hontiveros 6, Jazul 5, Banchero 4, Thoss 4, Dela Rosa 4, Menk 2, Eman 0, Dela Cruz 0, Casio 0. Quarter scores: 33-16, 49-26, 73-49, 88-70.