Mga Panghitabo (News)

August 20, 2008

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August 12, 2008

Wall Street gains as oil slips

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Wall Street gains as oil slips

Source: ABS-CBN

NEW YORK - Stocks rose on Monday as oil prices closed lower for a sixth day, improving prospects for consumer and business spending.

The gains built on the market’s best week since April. The fall in the price of oil boosted retailers’ stocks before a batch of earnings from Wal-Mart Stores Inc and others, as well as energy-sensitive airline shares.

Apple helped the Nasdaq outperform the Dow and the S&P 500 after Chief Executive Steve Jobs told the Wall Street Journal about heavy demand for iPhone software downloads.

Amazon.com jumped over 9 percent after Citigroup said the online retailer’s Kindle book reader was on track to become one of the top electronics gifts of the 2008 holiday season.

U.S. crude oil futures fell as concerns about slowing global demand combined with a stronger dollar to knock down crude prices, despite the conflict between Russia and Georgia.

But oil prices ended off their lows for the session, which helped take the steam out of the stock market’s rally in the last hour of trading.

"Every time oil falls, stocks rise at the moment. But oil is not going to keep going down every day with all that is going on geopolitically," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.

The Dow Jones industrial average rose 48.03 points, or 0.41 percent, to 11,782.35, while the Standard & Poor’s 500 Index gained 9.00 points, or 0.69 percent, to 1,305.32. The Nasdaq Composite Index jumped 25.85 points, or 1.07 percent, to 2,439.95.

Trading volume was low on the New York Stock Exchange, with about 1.26 billion shares changing hands, sharply below last year’s estimated daily average of roughly 1.90 billion, while on Nasdaq, about 2.31 billion shares traded, above last year’s daily average of 2.17 billion.

Bank shares also rose but cut gains in the last hour of trading after a Federal Reserve survey showed banks in the United States further tightened their lending standards and terms in all major loan categories, especially for consumer loans, in the past three months amid a weakening economic outlook.

Apple Inc’s shares rose 2.4 percent to $173.56 on the Nasdaq after the company’s CEO told The Wall Street Journal that iPhone users had downloaded more than 60 million programs for the device in the month since Apple opened an online software marketplace.

AT&T Inc, the iPhone’s exclusive carrier in the United States, rose 2.8 percent to $31.84 on the NYSE. The stock was among those giving the biggest boost to the S&P 500. It also helped lift the Dow.

Amazon.com Inc soared 9.4 percent to $88.09 on Nasdaq after Citigroup’s note.

Shares of Wal-Mart Stores Inc climbed 1.2 percent to $58.56 on the NYSE after Goldman Sachs wrote in a note to clients that the world’s largest retailer may increase its profit forecast.

Shares of Ciena Corp advanced 6.8 percent to $18.17 on Nasdaq after Morgan Keegan raised its rating on the telecommunications equipment makers’ shares.

Advancing stocks outnumbered declining ones by about 5 to 3 on the NYSE and more than 2 to 1 on the Nasdaq.

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July 4, 2008

Pinay is senior adviser to Obama

Filed under: World News - Administrator @ 11:55 am

Pinay is senior adviser to Obama

By MAR-VIC CAGURANGAN

Special to BusinessMirror

HAGATNA, Guam - If Barack Obama becomes the US president, America’s national policies would somehow be influenced by a Filipino: Charmaine Manansala, who has been selected as a senior adviser to the Democratic party candidate.

Manansala is now the Asian-American and Pacific Islander Vote director for the Obama campaign.

"The Obama campaign acknowledges the extraordinary contributions of the nearly 13 million Asian-Americans and Pacific Islanders who have helped build a strong and vibrant America," Manansala stated in her message to the Asian-American and Pacific Islander Network.

"We realize that despite the growth of our community, there are challenges [that] we still face. For increasing numbers of Asian-Americans and Pacific Islanders [AAPI], the American dream is in danger of slipping away," said Manansala, who served as policy adviser and political strategist for then-Guam gubernatorial candidate Robert Underwood in 2006.

"As president, Senator Obama will work with the AAPI community to ensure that all Americans have access to quality, affordable and portable health insurance that will also reduce the linguistic and cultural barriers that limit access to our medical system," she added.

Manansala was born in Manila. Her family moved to Orange County in Los Angeles in 1983 to join her grandparents.

She went to Smith College in Northampton, Massachusetts, where she majored in biochemistry. She earned her master’s degree in public health at George Washington University in Washington, DC.

Manansala has joined the league of policy analysts and political strategists in the nation’s capital. In 2007, she was on the Filipino Women’s Network’s list of 100 Most Influential Filipinas. In 2001, she was honored by PoliticalCircus.com, as one of the "Top 30 Under 30," which recognizes the most influential Asian-Pacific Americans 30 years and younger in the US.

Prior to her selection as AAPI vote director, Manansala, now based in New Mexico, was the state director for the New Mexico Blue Team, where she was in charge of developing a state plan for political organizers advancing Obama’s candidacy.

Manansala lived in Guam from 2005 to 2006 to lead the campaign strategy for Underwood.

Before her stint in Guam, Manansala served as policy adviser for Speaker Nancy Pelosi from 2003 to 2005.

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Oil price flies to record high beyond 146 dollars

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Oil price flies to record high beyond 146 dollars

Agence France-Presse

LONDON - The price of oil set a record high above 146 dollars a barrel here on Thursday owing to falling reserves of US crude, simmering tensions over Iran and a weak dollar, traders said.

Russian energy giant Gazprom meanwhile forecast that oil would "very soon" hit 250 dollars a barrel.

Brent North Sea oil for August delivery surged to a life-time peak of 146.69 dollars a barrel after breaching 146 dollars for the first time earlier on Thursday.

New York’s main oil contract, light sweet crude for August delivery, leapt to an all-time pinnacle of 145.85 dollars on Thursday.

"Prices rose to set new all-time highs … supported by a decline in US crude oil inventories," said Barclays Capital analyst Kevin Norrish.

After hitting new heights, Brent crude stood at 145.13 dollars a barrel in electronic deals, up 87 cents from Wednesday’s close as traders banked profits. New York crude was 28 cents higher at 143.85 dollars.

Oil prices, which have doubled in value over the past year, were driven by news that American crude stockpiles fell by 2.0 million barrels to stand at 299.8 million barrels in the week to June 27.

The US government’s Energy Information Administration had also revealed on Wednesday that crude inventories were 15.3 percent lower than at the same stage one year ago.

"It was the first time inventory fell below the psychologically critical 300-million-barrel threshold since January," said PetroMatrix analyst Olivier Jakob.

The latest record-breaking price surge also came after Iranian Oil Minister Gholam Hossein Nozari said that Iran would react fiercely to any military attack against the oil exporter.

The OPEC oil exporting group added on Thursday that it would be difficult to replace the crude output of Iran should the country face attack.

"If something happened in Iran, it is difficult to replace (Iran’s output of) 4.1 or 4.2 million barrels a day," OPEC secretary general Abdallah el-Badri told the daily newsletter of the World Petroleum Congress in Madrid.

There has been a surge in speculation recently that Israel might be planning a military strike against Iran’s nuclear sites.

Iran has been locked in a five-year standoff with the West over its nuclear program. Iran claims it is for generating electricity while Western powers fear the development of nuclear weapons.

The oil market also found key support from the struggling US currency, which makes dollar-priced commodities cheaper for foreign buyers and tends to encourage demand, analysts said.

"We expect that the price of oil will reach 250 dollars per barrel very soon," Gazprom chief executive, Alexei Miller, told journalists Thursday on a visit to energy-rich Azerbaijan.

Miller also said he expected Russia’s oil production to level off in the next few years. Analysts say one of the reasons for higher oil prices is that production is failing to catch up with growing global demand.

Russia is the world’s second-biggest producer and exporter of oil after Saudi Arabia.

June 30, 2008

Manny Pacquiao: An Asian phenomenon

Filed under: World News - Administrator @ 2:27 pm

Manny Pacquiao: An Asian phenomenon

By RONNIE NATHANIELSZ

When Filipino ring idol and certified national treasure Manny Pacquiao brutalized a courageous David Diaz to win the World Boxing Council lightweight title with a spectacular ninth round knockout in Las Vegas on Saturday, he fulfilled his quest for world titles in four separate weight divisions and emerged not only as an extraordinary Filipino but an Asian phenomenon as well.

When Filipino ring idol and certified national treasure Manny Pacquiao brutalized a courageous David Diaz to win the World Boxing Council lightweight title with a spectacular ninth round knockout in Las Vegas on Saturday, he fulfilled his quest for world titles in four separate weight divisions and emerged not only as an extraordinary Filipino but an Asian phenomenon as well.

Pacquiao became the ninth boxer in the recorded history of the sport to win four world titles, joining an elite list that includes Tommy "The Hitman" Hearns, Sugar Ray Leonard, Roberto "Hands of Stone" Duran, Pernell "Sweet Pea" Whitaker, Leo Gamez, the "Golden Boy" Oscar De La Hoya, "Pretty Boy" Floyd Mayweather Jr. and Roy Jones Jr.

Interestingly, two other fighters who tried but failed to win a fourth title were somehow linked to Filipino fighters. The great Henry Armstrong, who won world titles in the featherweight, lightweight and welterweight divisions, lost to Filipino Ceferino Garcia, who was famous for his so-called "Bolo Punch", in Armstrong’s quest for the world middleweight title on March 1,1940.

The other fighter who also fell one title short was South Africa’s Lehlohonolo Ledwaba, who was demolished by Pacquiao. Ledwaba lost his IBF super bantamweight title on June 23, 2001 at the MGM Grand in Las Vegas .

Ledwaba had won the fringe organization World Boxing Union’s bantamweight title, the IBF super bantamweight crown which he subsequently lost to Pacquiao, and the WBU featherweight title but was twice beaten by fellow South African Cassius Baloyi in his bid for the super featherweight title of another lesser known world organization, the IBO or International Boxing Organization, the last time in April 2006.

Amazing

The success of Pacquiao has, in many respects, been nothing short of amazing. He started his pro career as a skinny 16-year-old at 106 pounds on the popular weekly boxing show "Blow by Blow" where he quickly carved a name for himself as the show’s biggest attraction with his aggressive style and courageous heart drawing 5,000 fans to the Mandaluyong Gym where the show was regularly staged.

Pacquiao won his first world title on Dec. 4, 1998 on the eve of the Asian Games in Bangkok when he scored a stunning eighth round knockout over Thai hero Chatchai Sasakul.

After losing the title on the scales when he couldn’t make the weight for his second title defense against another Thai, Medgoen Singsurat or 3K Battery on Sept. 17, 1999, Pacquiao moved up to super bantamweight where he won the WBC International title with a smashing second round TKO of Reynante Jamili on Dec. 18, 1999 and then quickly disposed of five challengers put in front of him although he did have more than his fair share of trouble against Australian Nedal Hussein.

Pacquiao went to the US with his business manager Rod Nazario and traveled from one gym to another from East to West but nobody showed any interest until promoter Murad Muhammad signed him up in Los Angeles after watching a tape of the Sasakul fight. It was then that Pacquiao got his first big break.

Enrique Sanchez, who was scheduled to fight Ledwaba for the IBF super bantamweight title, was forced to pull out with an injury 10 days before the fight which was offered to Muhammad.. After a quick consultation with Pacquiao and Nazario, they took the fight and Pacquiao won his second

world title with a smashing sixth round stoppage on June 23, 2001.

Debate or no debate

There is some debate over whether Pacquiao should be credited with a fifth world title today since he annihilated Marco Antonio Barrera on November 15 2003 when the Mexican was the so-called "People’s Champion." Barrera had actually won the featherweight title, beating Erik "El Terrible" Morales, but refused to accept the belt and then scored a 12-round unanimous decision over Johnny Tapia on Nov. 2, 2002 and a fourth round TKO over Kevin Kelley on April 12, 2003. This is the bone of contention because Pacquiao beat Barrera who was recognized as featherweight champion by the "Bible of Boxing" Ring Magazine.

His third or was it fourth title came when he beat Juan Manuel Marquez in a rematch for the WBC super featherweight title in a close fight where Pacquiao prevailed via a split decision which was anchored on his third round knockdown of Marquez on March 15, 2008. Despite being dropped three times in the opening round of their first battle on May 8, 2004, Marquez counter-punched his way to salvage a draw. That too was controversial since one of the judges — Bart Clemens — publicly admitted after the fight that he had made a mistake in scoring in the first round which effectively denied Pacquiao of the victory and the title.

With his virtual execution of Diaz last Saturday, Pacquiao not only sealed his reputation as a "Mexicutioner" he also became the first Asian to win four world titles and assured himself of being a first ballot Hall-of-Famer and the greatest Filipino and Asian fighter of all-time.

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All eyes on Pacquiao as he sets to get fourth title

Filed under: World News - Administrator @ 2:24 pm

All eyes on Pacquiao as he sets to get fourth title

The whole country is expected to tune in on their TV and radio sets, flock to cinemas and public viewing centers as well as to their computers through the Internet to watch or listen to Manny Pacquiao slug it out with WBC lightweight king David Diaz Saturday (Sunday in Manila).

Pacquiao will try to win a fourth title — a fifth if you’ll count his "People’s Champion" belt — a feat no Asian has done before in different divisions.

For several hours on a usually laidback day, streets are expected to be deserted as local boxing fans temporarily set their Sunday chores aside to watch the fight. The crime rate is also expected to go down since even thieves and robbers take time off from their activities to see the bout.

A win by Pacquiao at the "Lethal Combination" fight card is also expected to boost his countrymen’s morale as the Philippines reels from the hundreds of casualties and extensive damage inflicted by typhoon Frank as well as the tragedy of the hundreds of victims of the ill-fated M/V Princess of the Stars.

The People’s Champion had earlier announced that he is offering this fight to the victims of the devastating typhoon.

Analysts see the bout having the makings of an "exciting fight."

"The old cliché that ‘styles make fights’ I think really applies here because we have two guys who likes to mix it up," said Nigel Collins, chief editor of the Ring Magazine.

"Boxing fans around the world, in addition to a rabid Philippines following, know this fighter, Manny Pacquiao, to be among the top handful of most exciting boxers today. Some think he’s also the best. I say he gets a chance to prove he’s the best Saturday night (actually fight day in the US)," said Tim Starks of MVN.com.

"The fight is certainly expected to be messy and bloody. That is what one should expect when two known sluggers who are too proud to back off meet in the center of the ring," said North Cotabato Vice Gov. Manny Piñol, a well-known boxing analyst in the Philippines.

Veteran boxing analyst Ronnie Nathanielsz said he believes Pacquiao would bring home the lightweight championship of the world title.

"He will win. I don’t see any way he can be beaten. He is too fast, he is too strong and he is too smart for David Diaz as a boxer," Nathanielsz said on ANC’s Dateline Philippines on Saturday.


‘Diaz needs a miracle’
Pacquiao’s coach, Freddie Roach, said that although Diaz is the reigning champ, he will need to pull off a miracle to score a win against his ward.

"For Diaz to win he’ll need a miracle," Roach said in an article published by The Philippine Star.

He added that Diaz’s planned strategy to "put pressure" on Pacquiao is not likely to work.

"Manny won’t break down. He won’t get tired in the later rounds. I don’t see that happening. Manny is in great shape. For Diaz to win he’ll need a miracle."

Even Top Rank head honcho Bob Arum, who handles the fight promotion, said that Pacquiao has an advantage over Diaz when it comes to boxing skills.

"Diaz may be good but Pacquiao is the more tactician," said Arum.

He added that Pacquiao not only has the advantage on speed, but he is also a power puncher.

Fight stats show that out of 46 wins, Pacquiao had 35 knockouts. Diaz had 17 out of 34 wins.


Diaz won’t back down
But what about the champion? Surely, he isn’t a title holder for nothing.

"[Diaz is] not the hardest puncher in the world but he is a difficult opponent for anybody," said Arum.

The Mexican-American’s style is similar to that of Jake "the Raging Bull" Lamotta, who had an iron chin and capable to withstand heavy punches. And just like the bull, he charges again and again and again.

"[He is] one of those over-achieving fighters who will stay into the bitter end," said the Top Rank chief.

Diaz’s trainer Mike Garcia said his ward has what it takes to engage Pacquiao in an "all out battle." He added that unlike what other observers say, he believes Diaz is the stronger fighter.

"Manny is quicker but I see David just gets stronger as the rounds go on. I’m confident," he said.

The champion himself said he never lost a fight to a southpaw. Diaz, just like Pacquiao is also a left handed fighter.

"I’ve won against southpaws and I’ve done pretty well against them," he said during the pre-fight conference.

"I will never give up. You hit me and I hit you. I’m still there. I have to go out there and perform," said Diaz. "This (duel with Pacquiao) is something that I worked so hard for. I never imagined this and now that I have it, I will not let it slip away."


A dozen rounds
While Pacquiao’s camp boasts that they can finish the fight in 9 out of 12 rounds, Diaz vows to put up a good fight in defending the title.

Nathanielsz said that he thinks the bout will go 12 rounds since Diaz is a "very strong, determined young man and has trained very hard. He is hard to knockout, hard to put away."

Diaz, he said, is a world champion and has beaten some of the best fighters in his weigh division.

"Pacquiao is up against a guy who is strong, very durable and is in great condition and will come at him for 12 rounds. He will not stop. That’s his style David Diaz. That’s why he will be a difficult opponent in that respect," he said.

However, Nathanielsz said that Diaz will not be able to beat Pacquiao that easily since the Filipino boxing champ has beaten "every Mexican legend in town."

"And if you look at them side by side in terms of their natural abilities Pacquiao is a far more exciting fighter than Diaz. Diaz is a plodder. He just come at you, he will lean on Pacquiao and try and hope for the best. I talked to him a few days ago and he told me my plan is to fight to go the distance. If the fight goes the distance that’s my best chance," said Nathanielsz.

The boxing analyst said Pacquiao has been training his footwork and also working on a variety of punches.

"He has been accentuating his footwork because he has to move in a different way. He is also working on a variety of punches–the hook, the uppercut because normally, Pacquiao’s most devastating weapon is the left straight. That’s the one that kills," he said adding, "But now he is working on the hook because he is fighting a different kind opponent. So he has had to make some changes in strategy and in fight plan in training."


GenSan confident of another Pacman win
In General Santos City, Pacman’s hometown, boxing fans everywhere in the city had an opinion on the possible outcome of the bout.

Some said the Filipino champ will have a hard time with the Mexican fighter, although Pacman will still prevail in the end.

"Pag hindi niya matumba sa seven hanggang eight [rounds], delikado ka kay Diaz," said Edwin Otero.

"Idol, kahit pa angat ang timbang may tiwala kami sa ‘yo na ikaw ang manalo," Arnel Suscano, another kababayan, said.

Pacquiao’s family, however, is confident that with God’s help their beloved kin will be victorious in his latest fight.

"Mahirap magkomento sa kapwa boksidor (sic) kung hanggang kailan niya matatapos ang laban, pero ako naniniwala na si Manny ang mananalo. Nasa tamang training at handang-handa siya," his younger brother Bobby, also a boxer, said.

Manny’s doting mother, meanwhile had this to say to his superstar son.

"Ang dami na niyang natanggap na blessing… dapat makuntento na," Dionesia Pacquiao said.

She also said she hopes this would be Manny’s last fight because he already reached the peak of his career.


Let’s see what happens
Among the things fight fans want to see is how Pacquiao’s ascent to lightweight affects his punching power.

"I don’t know what’s going to happen at an increased weight. The one thing that you notice over the years when great fighters move up in weight they don’t always carry their punch," Collins said.

Collins pointed out that the Filipino has not been knocking out as many opponents in the super featherweight division compared to his stint as a featherweight.

"Now I think part of that had to do with the quality of opponents," he conceded, "obviously fighters like Juan Manuel Marquez, Marco Antonio Barrera are top fighters and harder to knock out."

Collins said fans will know how the Filipino would manage the added weight after the fight.

"I think we’re gonna find out a lot about him," he said.

Pacquiao, however, assured that the added weight will not affect much of his performance.

"Moving up in weight is not a problem for me because I will maintain my speed and power," he said, adding that moving up a division would even save him more energy.

"I am doing well in training because I can eat more than when I was trying to make 130 pounds… Now that I can eat a bit more I feel I have more energy… A lot of people feel (the move up in weight) will be difficult, but I believe I will be stronger at 135 pounds," said the Filipino champion.


Pacquiao all set
In a phone patch from Las Vegas, ABS-CBN correspondent Dyan Castillejo meanwhile reported that the Filipino fighter is in great shape and all set for Saturday evening’s (Las Vegas, USA time) fight.

Castillejo said that majority of the crowd who attended the weigh-in hosted by Michael Buffer were Filipinos. A lot of Filipinos have arrived in Las Vegas from the Philippines and from other US states to support Pacquiao.

"Manny was very appreciative of the overwhelming support of his kababayans and Diaz, he was very cool even if Pacquiao got most of the cheers even from some Mexicans," Castillejo said.

It was Pacquiao who first went up to the scale and was reportedly half a pound below the limit at 134.5 lbs. while Diaz came at exactly at 135 lbs.

"The fighters got together for a very long time. They posed to the audience, showed off their physique which was the fruit of the very hard training," she said.

She added that even the Mandalay Bay Hotel is all set for the Mexican-Filipino match with souvenirs for the fight such as caps, jackets and even Philippine flags are up for sale in the lobby.

Both fighters’ names and posters are also found all over the hotel, she added.

Tickets for the 11,000-capacity arena are now close to 9,500 and are expected to increase on the last day.

Castillejo said that Pacquiao, who had gone from 130 to 135 lbs, had hinted that he may want to go up to 140 lbs next fight.

"His plan is to fight Ricky Hutton who is a 140 pound champion in November. That’s his plan. He and his handlers look ahead. Bob Arum looks ahead, what fight is best suited for Pacquiao next," Nathanielsz said.

However, Nathanielsz has this to say in the event Diaz wins.

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Pacquiao cements his place as a legend

Filed under: World News - Administrator @ 2:21 pm

Pacquiao cements his place as a legend

Pacquiao cements his place as a legend


By RONNIE NATHANIELSZ

 
Filipino ring idol and national treasure Manny Pacquiao cemented his place among the legends of boxing with a spectacular ninth round knockout over Mexican-American David Diaz before Pacquiao’s wildly cheering countrymen at the Mandalay Bay Resort and Casino in Las Vegas.
 
Pacquiao, who has been described by boxing writers as the “Mexecutioner” because of his demolition of Mexican legends Marco Antonio Barrera, Erik “El Terrible Morales and Juan Manuel Marquez and battered pretenders like undefeated Jorge Solis, Hector Velasquez, Emmanuel Lucero and Gabriel Mira, lived up to his billing by an execution-style annihilation of the game but utterly outclassed Diaz.
 
A crowd of 8,326 watched Pacquiao fulfill his quest to re-write history by becoming the first Filipino and indeed the first Asian to win four world titles, not counting the Ring Magazine featherweight championship which he won when he mauled Marco Antonio Barrera into submission in 11 rounds in November 2003 at the Alamadome in Texas,  home of the San Antonio Spurs..
 
This time around it was the NBA champions Boston Celtics who were at special ringside to cheer Pacquiao who had invited them to watch the fight. Pacquiao endeared himself to the Celtics when, despite training in Los Angeles, he picked the Celtics as his favorite team to beat the Lakers and when they did their admiration for one another was strengthened even further.
 
Kevin Garnett, Paul Pierce and Ray Allen went into Pacquiao’s crowded dressing room after the fight to congratulate the No.1 pound-for-pound fighter in the world who put on a display that overwhelmingly justified his Ring Magazine choice.  Even if Floyd Mayweather Jr. hadn’t retired, editor-in-chief Nigel Collins would have had a hard time not recognizing Pacquiao as No.1 based on his near flawless performance against Diaz.
 
Pacquiao, who plays basketball with almost the same passion as he displays in the ring, said he was  “so happy to see my idols, the Boston Celtics.”
 
Despite moving up to 135 pounds, Pacquiao’s speed didn’t seem to diminish at all, especially against a much slower Diaz, who himself admitted he didn’t see the cracking left hook that dropped him face down in the ninth round after Pacquiao set him up with a stinging right straight.
 
It was as clinical an execution fight fans could ever witness and it began from the opening bell when Pacquiao exploded with vicious combinations that accentuated his speed. Pacquiao, whose skills have been honed to perfection by celebrated trainer Freddie Roach, showed exemplary footwork,  new-found weapons in the hook and the uppercut and a stinging right straight that went with his devastating left.
 
No chance

Following Roach’s fight-plan throughout, Pacquiao didn’t allow Diaz the luxury of getting him pinned against the ropes and bludgeoned with body shots but spun out of trouble on a few occasions he was driven there and kept the fight in the center of the ring where his vaunted speed, literally killed any hope that Diaz nursed in his courageous heart.
 
Round after round, Pacquiao ripped into the 1996 Olympian in a gold medal performance, inflicted a cut across the bridge of the lightweight champion’s nose and then opened up a nasty gash on his right eyebrow that began to ooze with blood prompting referee Vic Drakulich to have the ringside physician take a look at it not once but twice.
 
Instructed by assistant trainer Buboy Fernandez to feint with the right and then throw an uppercut, Pacquiao hurt Diaz in round eight. When Diaz went to his corner at the end of the round he was seen shaking his head in disbelief.
 
Pacquiao sensed by this time that the fight had been taken out of the game Diaz. After rocking Diaz with a right he threw a right straight and as the 135-pound champion moved forward, Pacquiao cracked him with a thunderous, perfectly-timed left hook sending Diaz crashing to the canvas flat on his face. Drakulich counted Diaz out at  2:24 of round nine.
 
In a post-fight interview, Pacquiao said it was not easy to move up in weight but he was “lucky that God gave me the strength” Pacquiao said he felt “stronger” at 135 pounds and “it would be better to stay at 135 or I can fight at 140 pounds.”
 
He said he was “not worried about taking the punches” of the naturally heavier Diaz  although he credited Diaz with being “the toughest opponent I ever had. I was surprised that he took a lot of strong punches, power punches and still stood up.” Later on Pacquiao conceded “he did hurt me one time during the fight.”
 
Not that fast?

Diaz said he didn’t think Pacquiao “was that fast.” He said he “saw Manny getting a little tired a little bit at the end” and  said to himself his tactic of trying to wear Pacquiao down was working but “he caught me with a good shot and that’s the way it goes. Sometimes you got to go out and say he was the better man tonight.”
 
Diaz admitted he didn’t see the punch that decked him, coming. “I was thinking he doesn’t hit that hard and then I was on the floor and I looked up and said what the heck. My hats off to him (Pacquiao). He is a great, great fighter and more than what I expected. You got to tip your hat off to him and say you are f—king good and that’s what Manny was.”
 
Top Rank promoter Bob Arum said “Manny is a great fighter and when he trains hard like he did, there’s nobody that can beat him. He really is a phenomenon. People say he is the best pound-for-pound fighter in the world. I believe he is.”
 
Arum said at present there are a lot of good lightweights for Pacquiao to fight but that WBA super featherweight champion Edwin Valero who has won all his fights by knockout would be a good fight. He also mentioned lightweight champion Nate Campbell.
 
Arum said Pacquiao’s lifestyle in the past was a drawback and that he and Roach had decided to put him in the gym in Los Angeles because there is no training in the Philippines anymore. Arum pointed out “look the shape he is in. Look how many punches he threw and didn’t get tired.”
 
For Roach who had predicted Pacquiao would win by a knockout in the eighth or ninth round his prized possession carried out his fight plan “to the tee." He said: "I am very proud of Manny.”
 
Pacquiao dedicated his victory to the victims of the recent devastating typhoon and said his “inspiration was drawn from those who suffered” even as he promised to provide whatever help he could when he returns home.
 
Pacquiao succeeded where the late great Hall-of-Famer Gabriel “Flash” Elorde failed when he twice fought Puerto Rican Carlos Ortiz for the world lightweight title and was stopped on both occasions in the 14th round, the second by knockout which was the first in Elorde’s illustrious career as world junior lightweight champion for almost seven-and-a-half years.

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(UPDATE) Pacquiao wins WBC lightweight belt, makes history

Filed under: World News - Administrator @ 2:17 pm

(UPDATE) Pacquiao wins WBC lightweight belt, makes history

By DENNIS GASGONIA
and ROY MEDINA

abs-cbnNEWS.com

Filipino boxing hero Manny Pacquiao made history by knocking out Mexican-American David Diaz in the ninth round, winning his fourth title before a jampacked crowd at the Mandalay Bay Resort and Casino Saturday (Sunday in Manila).

Pacquiao sent a battered Diaz down the canvas 2:24 in Round 9 to snatch the WBC lightweight title, thus becoming the first Asian to win four titles in four different divisions.

Interviewed after the fight, Pacquiao said he was impressed with Diaz.

"I’m very surprised. You know, Diaz, I think he’s the toughest opponent that I’ve had…and I’m very surprised that he kept a lot of strong punches and power punches," Pacquiao said.

Asked if he will stay at lightweight, the champ said: "It depends on Bob’s decision. I can fight 140 or I can fight 135 lbs."

For his part, Bob Arum, the promoter of the "Lethal Combination" fight card headlined by Pacquiao and Diaz, said the strict regimen he and chief trainer Freddie Roach imposed on Pacquiao paid off.

Arum said that at the onset, he and Roach decided to keep Pacquiao in the gym in Los Angeles, California, to train for the fight instead of opting for a longer stay in the Philippines.

"No fight, no training in the Philippines anymore. Look at the shape he’s in, look at the punches he threw," Arum added.

The Top Rank big boss added that he and Roach are also concerned with Pacquiao’s activities outside the ring, especially immediately before a scheduled match.

"We do. That’s why Freddie and me beat the hell out of him," Arum said of Pacquiao’s post-fight dates in the past, which included politics and entertainment.

Pacquiao ran for a congressional seat in his native General Santos City in the Philippines in the May 2007 elections. He lost.

Aside from politics, the champ also hosts a weekly television show.

Another notch

Before winning the lightweight title, Pacquiao won the WBC super featherweight and flyweight belts and the IBF super bantamweight crown. He also held Ring Magazine’s super featherweight title.

The Filipino’s date with history was unquestioned during the fight, as he outclassed a slower Diaz throughout the match.

Pacquiao was the clear aggressor starting from the opening round as he launched a vastly improved right hand against Diaz.

By Round 4, Diaz already had a puffy left eye and cut on the bridge of his nose. In Round 5, his right brow was badly bleeding.

In Round 6, referee Vic Drakulich had to temporarily stop the fight to have the ringside doctor check on Diaz’s wound.

Pacquiao continued to punish the Mexican-American in the succeeding rounds, until he caught Diaz with a one-two to the chin some late in Round 9.

The Filipino’s left fist sent the champ to the canvas face first.

The fight ended with Diaz lying flat on the canvas.   

Pacquiao’s record improved to 47-3-2 with 36 victories by knockout. Diaz, meanwhile, suffered his second career-loss against 34 wins.

Before the fight, most analysts saw the Filipino having the edge over Diaz in terms of skills, speed and punching power.

However, speculations about his added weight spread as observers expressed concern on how it would affect his performance inside the ring.

Pacquiao was a super featherweight (130 pounds) when he won the division’s WBC crown from Juan Manuel Marquez on March 15. He immediately climbed to lightweight (135 pounds) to challenge Diaz.

The Filipino has been dubbed "The Mexi-cutioner" for his successive victories against Mexican fighters in his last fights.

Diaz is a Mexican-American born and raised in Chicago, Illinois.

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June 17, 2008

Nokia unveils new business phones

Filed under: World News - Administrator @ 9:01 am

 nokia e66 and e71

Nokia unveils new business phones

LONDON - The world’s top cellphone maker, Nokia, unveiled two new models on Monday aimed at the business market dominated by the Blackberry, but Research in Motion Ltd shares rose because investors believe the maker of the popular handset is safe.

The new Nokia phones, meant to refresh the somewhat aging lineup of corporate offerings at the Finnish company, were widely expected after leaks on the Internet.

Nokia shares closed 2 percent lower in Helsinki at 16.57 euros, while RIM stock closed 5 percent higher at C$144.21

"This is not going to change anything," said Nomura analyst Richard Windsor. "They’ve got to do much more, they have to do a complete offering. The problem is they don’t offer device independence and they don’t have the embedded position that RIM does."

The new sliding model E66 and the E71, with full keyboard, both start shipping in July and will retail for around 350 euros ($538), excluding operator subsidies and local taxes.

Both phones will have 3.2 megapixel cameras and built-in GPS receivers for navigation. The Nokia E71 is 10 millimeters thick — the thinnest phone with a full QWERTY keyboard in the world.

"The business market is becoming increasingly competitive and highly segmented, so these new products are critical new additions to Nokia’s E series line up," said Geoff Blaber, an analyst at research firm CCS.

Over the last few months, Nokia’s rivals, including Canada’s RIM and Sony Ericsson, have introduced new models for business users, intensifying competition in the sector.

"We will see a swathe of new products from RIM, Palm and a number of Windows Mobile licensees in the coming quarters, so it was essential that Nokia strengthened its portfolio," CCS’s Blaber said.

No Blackberry support

The new phones do not include Blackberry service, included on all of Nokia’s previous corporate phones.

Analysts said it was not a major problem for Nokia, which has always offered a wide range of e-mails on its devices.

"We do see a number of organizations adopting a ‘RIM plus one’ strategy, but in such cases, they typically provide Blackberry for senior executives and some other device/e-mail platform for mainstream users," said Gartner analyst Nick Jones.

Also Nokia’s Soren Petersen, who heads the phone portfolio, downplayed the fact Nokia will sell the phones without an option for Blackberry e-mail.

"I don’t think its much of an issue. It’s a client they need to develop," he told Reuters in an interview.

RIM was not immediately available to comment.

Nokia sells 40 percent of all phones sold globally, but the market for business users who look for fast access to their e-mails on the road is dominated by RIM.

Petersen said that because only a tiny portion of corporate e-mail accounts are used over mobile, it gives an opportunity for providers such as Nokia to attack RIM’s dominant position.

"To me, the game is wide open. It’s very early days," he said.

Nokia is also looking at developing e-mail devices for its usual consumers, where uptake could be much faster than at companies.

"Consumer e-mail will overtake corporate really fast, really fast," Petersen added.

 

Dollar declines in Asia on US rate hike doubts

Filed under: World News - Administrator @ 8:57 am

Dollar declines in Asia on US rate hike doubts

TOKYO - The dollar lost ground in Asian trade on Tuesday as traders reassessed prospects for an increase in US interest rates in the near future given ongoing economic uncertainty, dealers said.

The dollar declined to 107.80 yen in Tokyo afternoon trade from 108.15 in New York late Monday.

The euro rose to 1.5537 dollars from 1.5477 but was flat at 167.49 yen from 167.50.

The greenback came under pressure as speculation about a possible rate rise by the US Federal Reserve dwindled.

"Players had been pricing a Fed rate hike in too much," Hideki Amikura, a senior trader at Nomura Trust and Banking, told Dow Jones Newswires.

The Wall Street Journal reported Tuesday that the Fed "is almost certain to leave interest rates unchanged when it meets next week, and it currently doesn’t appear to see a compelling case for raising rates before the fall."

Traders were waiting for US data on wholesale inflation, housing starts and industrial output due out later in the day.

"If the results turn out to be weaker than expected, the dollar and the yields on US Treasuries will drop," said Satoshi Tate, senior trader at Mizuho Corporate Bank.

"The dollar’s drop will be especially notable against the euro since it’s almost certain that the European Central Bank is going to raise its rates in the near term."

Markets are also awaiting results from Wall Street giant Goldman Sachs amid concern about possible write-downs due to the credit crunch, while Morgan Stanley is set to announce earnings later this week.

In Germany the ZEW index of economic sentiment is due Tuesday.

The euro was supported by news that inflation in the eurozone hit a record 3.7 percent in May, driven by soaring oil and food prices to the highest level since the single European currency was launched in 1999.

The data added to speculation that the European Central Bank may raise interest rates next month, dealers said.

The dollar fell against regional Asian currencies, easing to 9,310 Indonesian rupiah from 9,325 on Monday, to 44.37 Philippine pesos from 44.41, and to 33.23 Thai baht from 33.27.

It declined to 1.3670 Singapore dollars from 1.3756, to 1,023.00 South Korean won from 1,037.05, and to 30.34 Taiwan dollars from 30.41.

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