Football: Colombia stun Germany at World Cup but New Zealand out in tears

 

SYDNEY, Australia -- Colombia scored a 97th-minute winner to stun Germany 2-1 on a night of Women's World Cup drama Sunday which also saw Norway and Switzerland into the last 16 but co-hosts New Zealand dumped out in tears.

Germany smashed Morocco 6-0 in their opener to underline why they were among the pre-tournament favorites, along with Spain and England, to snatch away the United States' crown.

But they came crashing back down to earth at the hands of a Colombia side inspired by 18-year-old Linda Caicedo and roared on by the majority of a rowdy 40,000 crowd in Sydney.

The Real Madrid attacker scored one of the best goals of the tournament so far, darting past two Germany defenders before curling the ball into the top corner to open the scoring.

Germany thought they had salvaged a point in the 89th minute when skipper Alexandra Popp defied the whistles to score from the penalty spot.

But with a pulsating game that deep into stoppage time appeared destined for a draw, Manuela Vanegas popped up to head home from close range and put Colombia on the verge of the last 16.

"Germany is a world power, that's a reality, but Colombia has been making great strides and today Colombia is a world power," said the defender Vanegas.

"I dreamed of scoring a goal in a World Cup, I knew it was going to come and I decided to do it for today's game."

Going into the last round of group matches, Colombia are top of Group H on six points, Germany and Morocco have three and South Korea have zero.

Germany's fate is still in their own hands when they face the Koreans next, with Colombia against Morocco.

Morocco won a Women's World Cup match for the first time after Ibtissam Jraidi struck early to give them a 1-0 victory over South Korea.

In the match, Moroccan defender Nouhaila Benzina became the first player to wear a hijab at the Women's World Cup.

- Norway through, New Zealand out -

Norway and Switzerland both emerged out of an excruciatingly tight Group A.

Former champions Norway thrashed the Philippines 6-0 in Auckland to squeeze into the last 16 on goal difference from New Zealand.

A full house in Dunedin saw the co-hosts held 0-0 by a stubborn Switzerland as the Football Ferns bowed out of their home tournament in tears.

The 1995 champions Norway needed a win and they did it in style against World Cup debutants the Philippines, who themselves were still in with a chance of reaching the knockouts.

Sophie Roman Haug scored a hat-trick as the Philippines' fairytale journey came to a shuddering halt.

With Norway well ahead, New Zealand now needed to beat Switzerland.

The hosts had the better of the first half with a string of chances, the pick of which saw forward Jacqui Hand rattle the post on 24 minutes.

As Norway chalked up the goals in Auckland, the New Zealanders upped the intensity, knowing only a win would be good enough to advance.

But the goal they so desperately needed never came.

"There are a lot of tears out there, but they should be so proud to finish on four points," captain Ali Riley said.

On Monday, Australia will hope to avoid the same fate as their co-hosts.

The Matildas must beat Olympic champions Canada to guarantee a place in the last 16 but are still sweating on their skipper and talismanic striker Sam Kerr.

She has declared herself available after a calf injury but it remains to be seen how much of a part she plays.

"Everyone involved in sport knows that with calf injuries it's one thing that you're available, but there's also risk when you come back from a muscle injury," said Australia's coach Tony Gustavsson.

Also in Group B, surprise-package Nigeria need just to avoid defeat against already-eliminated Ireland to progress.

Former champions Japan and title contenders Spain meet to decide who tops Group C with both already into the last 16.

Agence France-Presse

Football: Ramos bags hat-trick as Portugal crush Swiss to reach World Cup quarters

DOHA, Qatar -- Goncalo Ramos justified the shock decision to drop Cristiano Ronaldo by scoring a hat-trick on his full debut as Portugal demolished Switzerland 6-1 on Tuesday to power into the World Cup quarter-finals.

The 21-year-old Ramos, who started instead of Ronaldo, became the youngest player to strike three times in a World Cup knockout match since Pele in 1958.

Pepe, Raphael Guerreiro and Rafael Leao were also on target for a rampant Portugal, who booked a showdown with Morocco on Saturday for a place in the last four in Qatar.

"I think not even in my wildest dreams had I thought about being part of the starting XI for the knockout phase," said Ramos, who only made his Portugal debut in a pre-tournament friendly last month.

Switzerland, who had been hoping to reach a first quarter-final since hosting the 1954 World Cup, exited in the last 16 for the third time in a row.

"Defeat is painful. We are sad about how we played, about the result. We wanted to make our country happy but we didn't manage to achieve that," said Switzerland coach Murat Yakin.

Ronaldo, 37 and now without a club after his departure from Manchester United, has hogged the headlines during the tournament while looking a shadow of his former self.

The only man to score at five World Cups, Ronaldo was left out by coach Fernando Santos against the Swiss following his angry response to being substituted in the last group game.

Santos later said the decision to bench the Portugal star had been "strategic and nothing more", unrelated to his substitution against South Korea.

"I said that it was closed and it was closed," Santos said.

It was a bold call to omit a player with a record 118 international goals in favor of giving a first start to Ramos, the Benfica striker who had played just 33 minutes across three previous appearances.

- Instant impact -

But it took just 17 minutes for Ramos to reward Santos' faith, and to achieve something Ronaldo has never done -- score in a World Cup knockout game.

Joao Felix clipped delicately into the feet of Ramos, who quickly swiveled past Fabian Schaer and rifled into the roof of the net past a stunned Yann Sommer.

Otavio, who returned to the Portugal midfield after injury in their opening match, shot straight at Sommer before Ramos did likewise moments later.

Xherdan Shaqiri drew a fingertip stop from Diogo Costa with a dipping free-kick from distance, but Portugal soon had their second. 

Bruno Fernandes whipped in a corner and the 39-year-old Pepe towered above the Swiss defense to powerfully head home.

Diogo Dalot hacked Remo Freuler's header off the line after Diogo Costa failed to properly deal with a cross, but the Swiss simply had no answers against an irresistible Portugal.

Ramos turned in his second from close range six minutes into the second half from Dalot's cross down the right. 

He then turned provider by playing in Guerreiro to lash in another just four minutes later as the Swiss defence was ruthlessly ripped apart.

It was also Ramos who inadvertently glanced a corner towards Manuel Akanji at the far post as the Manchester City centre-back pulled one back for Switzerland.

Ramos completed his treble after more outstanding work from Felix, nonchalantly dinking over Sommer with one of his final touches before making way for Ronaldo.

The five-time Ballon d'Or winner's introduction elicited the biggest roar of the night. Ronaldo did have the ball in the back of the net but it was ruled out for a clear offside.

Leao capped off a sensational Portugal performance with a terrific curling strike in stoppage time. 

Agence France-Presse

Switzerland continues to ease lockdown measures

People watch elephants at the re-opened Zoo Zurich, as Switzerland continues to ease the lockdown measures during the COVID-19 outbreak on Saturday. The Swiss government on Friday said it plans to lift travel and border restrictions from countries in the European Union, the European Free Trade Association, and the United Kingdom on June 15. 

-reuters-

US biotech firm, Swiss drugmaker strike deal on potential COVID-19 vaccine

Moderna Inc and Swiss contract drugmaker Lonza Group AG said Friday they would accelerate the manufacturing of the US drug developer's potential coronavirus vaccine.

The announcement comes at a time when drugmakers are pausing clinical trials for other disease areas as they focus on testing potential treatments for the coronavirus.

The experimental vaccine, mRNA-1273, is being tested in early-stage trial by the US National Institutes of Health, with Moderna expecting to begin mid-stage trial in the second quarter.

Under the 10-year collaboration agreement, the companies aim to manufacture up to a billion doses per year as technology transfer is expected to begin in June, and the first batches of the vaccine are expected to be manufactured in Lonza US in July.

"Over time, the parties intend to establish additional production suites across Lonza's worldwide facilities, ultimately allowing for the manufacture of material equivalent to up to 1 billion doses of mRNA-1273 per year for use worldwide," the statement added.

The disease, which infected more than 3.2 million people worldwide and killed around 232,000, set off a race among drugmakers to find an antidote.

Earlier this month, Moderna got a $483 million funding from a US government agency to accelerate its COVID-19 vaccine development.

Separately, Basel-based Lonza's pharmaceuticals, biotech and nutrition business has received more than 40 inquiries regarding projects relating to COVID-19, the company said earlier in April.

-reuters-

Tennis: Federer donates $1 million to vulnerable Swiss in virus crisis

GENEVA, Switzerland -- Tennis great Roger Federer on Wednesday donated more than a million dollars to help support his "most vulnerable" Swiss compatriots through the coronavirus crisis.

The 20-time Grand Slam champion and his wife donated one million Swiss francs ($1.02 million, 943,000 euros), saying nobody should be left behind as Switzerland battles against the global pandemic.

According to official figures reported to the World Health Organization, Switzerland has the ninth-highest number of infections in the world.

According to the Swiss health ministry, more than 8,800 people have tested positive for COVID-19, while 86 people had died as of Monday.

"These are challenging times for everyone and nobody should be left behind. Mirka and I have personally decided to donate one million Swiss francs for the most vulnerable families in Switzerland," world number four Federer, 38, said on Instagram.


"Our contribution is just a start. We hope that others might join in supporting more families in need. Together we can overcome this crisis! Stay healthy!"

On Friday the Swiss government further tightened measures against the new coronavirus, banning all gatherings of more than five people, while anyone standing closer than two metres to others risks a fine.

The government had already ordered the closure of schools and all places of leisure, including restaurants, bars and non-food shops.

Agence France-Presse

WHO warns of pandemic risk after virus peaks in China

GENEVA - The new coronavirus has peaked in China but could still grow into a pandemic, the World Health Organization has warned, as infections mushroom in other countries.

Financial markets have gone into a tailspin after grim news of deaths and outbreaks in the Middle East, Europe and Asia, even as the Chinese epicenter appeared to be calming, with the death toll at its lowest for 3 weeks.

But the situation is worsening in other countries, with more than 2,000 cases and 30 deaths reported abroad, prompting a raft of restrictions on travelers from infected nations.

South Korea, Italy and Iran have logged particularly sharp increases in infections and deaths, while several countries in the Middle East reported their first cases of the novel coronavirus.

But WHO chief Tedros Adhanom Ghebreyes insisted the virus could still be contained, praising China's drastic quarantine measures in several cities for helping to prevent an even bigger spread.

"For the moment we are not witnessing the uncontained global spread of this virus and we are not witnessing large-scale deaths," Tedros told reporters in Geneva.

He added, however, that countries should be "doing everything we can to prepare for a potential pandemic."

The term "pandemic" is used to describe an illness that spreads across numerous communities.

SOUTH KOREA HOTSPOT

South Korea, which has the largest number of cases outside China, reported 60 more infections and 1 more fatality on Tuesday, raising its death toll to 8 and total patients to nearly 900.

South Korea's outbreak has centered around a religious sect in Daegu, the country's fourth largest city.

The country is on its highest "red" alert. As part of the containment efforts, school holidays were extended nationally while the 2.5 million people of Daegu were told to remain indoors.


The US Centers for Disease Control raised its caution level to warn Americans against "all non-essential travel to South Korea."

Italy, which has reported 7 deaths and over 200 cases, has locked down 11 towns, while upcoming football matches in its Serie A and the Europa League will be played behind closed doors.

With police manning checkpoints to enforce a blockade, Prime Minister Giuseppe Conte has said that residents could face weeks of lockdown.

IRAN FEARS

The disease -- officially known as COVID-19 -- spread to new countries including Afghanistan, Bahrain, Iraq, Kuwait and Oman.

At least 12 people have died in Iran, the highest toll outside China.

But there were concerns the situation might be worse than officially acknowledged. The semi-official ILNA news agency quoted 1 local lawmaker in hard-hit Qom -- a religious center -- who said 50 people had died there.

The Iranian government denied the report, and pledged transparency.

Even so, authorities have only reported 64 infections in Iran, an unusually small number that would mean an extremely high mortality rate.

Michael Ryan, head of WHO's health emergencies program, said a team from the UN agency would be arriving in Iran on Tuesday.

But he cautioned against drawing any conclusions about the mortality rate. Iran "may only be detecting severe cases" because the epidemic was still at an early stage, he said.

Several countries have taken measures to prevent arrivals from Iran.

CHINA PEAK

In China, 508 new cases were reported, with all but 9 at the epicenter in central Hubei province. Although that was up from 409 on Monday it was much lower than new infections being reported just a week ago.

China's death toll reached 2,663 on Tuesday, after 71 more people died.

WHO's Tedros said the epidemic peaked in China between Jan. 23 and Feb. 2.

China has placed some 56 million in Hubei and its capital under quarantine since late last month, while other regions have enacted some forms of travel curbs and measures to keep millions more people indoors.

Bruce Aylward, leader of a WHO mission of international experts, said late Monday it was time for China to start lifting some of the restrictions.

"Obviously they want to get society back to a more normal semblance of what probably is the new normal, because this virus may be around... for months," Aylward said.

Reflecting the disquiet, global markets plunged on Monday, with Wall Street off 3.6 percent.

Bargain buying helped some Asian markets into the green on Tuesday, but disquiet remained, with Tokyo dropping 3 percent by lunchtime.

source: news.abs-cbn.com

Switzerland divided over new law against homophobia

GENEVA - For gay rights campaigner Jean-Pierre Sigrist, the new law being voted on in a referendum in Switzerland on Sunday might have stopped him getting beaten up 4 decades ago.

"And maybe I would not have been laughed at when I went to the police," said the 71-year-old, who believes the law will be "an added safeguard against homophobia."

The new law would widen existing legislation against discrimination or incitement to hatred on ethnic or religious grounds to include sexual orientation.

The change was passed by the Swiss parliament in 2018.

But the populist right wing Swiss People's Party (SVP) and the Federal Democratic Union of Switzerland (EDU), a small party based on Christian values, are opposed.

Critics of the law, who have forced a public referendum on the issue, believe it will end up censoring free speech.

Eric Bertinat, a UDC local lawmaker in Geneva, told AFP that he believed the law was "part of an LGBT plan to slowly move towards same-sex marriage and medically assisted reproduction" for gay couples.

UDF chief Marc Frueh has called it a "censorship law."

But Sigrist, founder of Switzerland's association of gay teachers, said it would counter growing intolerance.

The retired teacher said he supports freedom of expression, "but not the freedom to say anything at all."

All of Switzerland's major parties except the UDC, the biggest political force in parliament, support the law.

NO TO 'SPECIAL TREATMENT'

Under the new law, homophobic comments made in a family setting or among friends would not be criminalized.

But publicly denigrating or discriminating against someone for being gay or inciting hatred against that person in text, speech, images or gestures, would be banned.

The government has said it will still be possible to have opinionated debates on issues such as same-sex marriage, and the new law does not ban jokes -- however off-color.

"Incitement to hatred needs to reach a certain level of intensity in order to be considered criminal in Switzerland," Alexandre Curchod, a media lawyer, told AFP.

But he admitted that there could be exceptions "if it can be shown that, under the cover of artistic production or joking, someone is in fact engaging in incitement."

Gay rights campaigners are divided over the legislation.

A group called "No to Special Rights!" is opposed, arguing that the gay community does not need special protection.

"I fight for the acceptance and normalization of my sexuality. But for me that also means not asking for special treatment," said Michael Frauchiger, co-head of the group.

Opinion polls show that the Swiss as a whole are broadly in favor of the law, but that the margin between supporters and opponents has narrowed in recent months.

source: news.abs-cbn.com

Swiss to auction 25 super cars seized from E. Guinea leader's son

CHÉSEREX, Switzerland - A collection of luxury cars seized from Equatorial Guinea's vice president Teodorin Obiang Nguema will be auctioned off in Switzerland on Sunday and are estimated to bring in 18.5 million Swiss francs ($18.7 million).

"This is an exceptional sale," Philip Kantor, of British auctioneers Bonhams, told AFP. "It's a private collection of supercars, with very low mileage.

Among the cars, to go under the hammer at a Geneva golf club, are seven Ferraris, three Lamborghinis, five Bentleys, a Maserati and a McLaren. 

The most expensive lots are a Lamborghini Veneno Roadster, valued at between 4.8 million and 5.7 million euros ($5.2-6.2 million) and yellow Ferrari hybrid at 2.4-2.6 million euros.

The cars were all confiscated by Swiss justice after the opening in 2016 of a financial wrongdoing case against Obiang, son and likely heir of Equatorial Guinea's authoritarian President Teodoro Obiang Nguema who has ruled for 40 years.

All will be sold with no reserve price. 

In February Swiss prosecutors said they were dropping charges of financial wrongdoing against Teodorin Obiang Nguema but were confiscating the luxury cars as part of the case.

Under the Swiss penal code, prosecutors can choose to drop charges in this category if defendants offer compensation "and restore a situation that is in conformity with the law." 

Playboy reputation 

Equatorial Guinea has also agreed to give Geneva 1.3 million Swiss francs to cover the costs of the case.

Vice president with responsibility for defense and security, Teodorin Obiang has a reputation for a playboy lifestyle.

In October 2017, a Paris court handed him a three-year suspended jail term after convicting Obiang of siphoning off public money to buy assets in France.

He was accused of spending more than 1,000 times his official annual salary on a six-story mansion in a posh part of the French capital, a fleet of fast cars and artworks, among other assets.

He was also given a suspended fine of 30 million euros.

In September, Brazilian media said that more than $16 million in cash and luxury watches were seized by Brazilian police and customs officers from the luggage of a delegation accompanying Obiang on a private visit.

Brazilian daily O Estado de Sao Paulo quoted a diplomatic source from Equatorial Guinea as saying the money was to pay for medical treatment Obiang was to undergo in Sao Paulo. 

The watches were for the "personal use" of the president's son and were engraved with his initials, the report said.

Obiang is reputedly on a fast track to succeed his father.

Last October, he was promoted from colonel directly to division general, without passing through the normal intermediary rank of brigade general.

The following month, he presided over a cabinet meeting for the first time.

The tiny West African nation is one of the continent's top petroleum producers and has a population of just 1.2 million.

The country is regularly cited by NGOs as one of the most corrupt in the world.

source: news.abs-cbn.com

Swiss National Bank posts $14.9 billion loss

ZURICH -- The Swiss National Bank on Monday posted an annual loss of 14.9 billion Swiss francs ($14.9 billion), as it continued to deploy a range of tactics to keep the franc's value under control. 

The Swiss currency has been viewed as a safe haven in turbulent economic times.

Since the 2008 financial crisis, the BNS has broadened its options to guard against the Swiss franc becoming overvalued.

Those tactics involve massive foreign currency holdings, including in equities, which can leave the SNB exposed to stock market swings like those seen at the end of 2018. 

In a statement, the SNB said its foreign currency positions lost 16.3 billion Swiss francs last year. 

But it made 2.0 billion Swiss francs in 2018 from negative interest rates, another measure it uses to dampen the franc's value. 

The SNB charges negative rates on certain accounts in order to keep investors from buying Swiss francs. 

Last year, the SNB posted a record profit of 54 billion Swiss francs thanks to gains on its foreign currency and gold holdings.

In January 2015, the central bank decided to stop trying to hold down the franc's value against the euro.

That decision sent the franc soaring in value against major currencies and contributed to turbulence on global markets.

source: news.abs-cbn.com

Rare pink diamond aims to make $50 million

GENEVA, Switzerland - The Pink Legacy, an exceptionally large pink diamond, is set to go under the hammer at Christie's in Geneva next week, when it is expected to bring in up to $50 million.

At nearly 19 carats, the vividly colored gem is extraordinary, Jean-Marc Lunel, an international jewellery specialist at Christie's, told AFP.

"If you consider that most pink diamonds weigh less than a carat, it is really something," he said.

The gem, which on Nov. 13 will be offered at auction for the first time, has been estimated at between $30 million and $50 million (26.5-44.1 million euros), and Lunel suggested it could hit the high end of that range.

"It is probably the most beautiful (specimen) ever presented at public auction," he said, insisting there was good reason to expect the rock to snatch an extraordinary price.

The rectangular-cut diamond has been graded "fancy vivid" -- the highest possible grade of color intensity.

Christie's pointed out that in the salesroom, fancy vivid pink diamonds over 10 carats are "virtually unheard of" and that only 4 vivid pink diamonds or over 10 carats have ever been offered for sale at auction.

One of them, the nearly 15-carat Pink Promise, was sold last November at a Christie's auction in Hong Kong for $32.5 million. That amounts to $2.176 million per carat, which remains the world auction record price per carat for any pink diamond.

And in 2013, a huge pink diamond weighing 59.60 carats meanwhile went under the hammer at Sotheby's for $83 million, or $1.39 million per carat.

The Pink Legacy, set to headline Christie's annual Magnificent Jewels auction on Tuesday, used to belong to the Oppenheimer family, which for decades ran the De Beers diamond mining company, but Christie's refused to say who the current owner was.

It was discovered in a South African mine around a century ago, Lunel said.

"It was probably cut in the 1920s," he said, adding that it had not been altered since.

The classic rectangular cut is traditionally used for white stones, but is rare for pink diamonds.

"Imagine a domino that you have cut the corners off of," Lunel said, pointing out that the cut is a "classical so-called emerald cut", which stands out from the typical, more rounded, multi-faceted cuts used today.

Rahul Kadakia, Christie's international head of jewellery, meanwhile said in a statement in September that he expected The Pink Legacy to "cause immense excitement with collectors and connoisseurs of diamonds around the world".

"Its exceptional provenance will no doubt propel it into a class of its own as one of the world's greatest diamonds."

source: news.abs-cbn.com

Credit Suisse freezes $5B in Russian money amid U.S. sanctions

ZURICH - One of Switzerland's largest banks, Credit Suisse, has frozen roughly 5 billion Swiss francs ($5 billion) of money linked to Russia to avoid falling foul of U.S. sanctions, according to its accounts, further increasing pressure on Moscow.

The move by Credit Suisse, which owned aircraft surrendered by Russian tycoon Oleg Deripaska and had lent money to Russian oligarch Viktor Vekselberg before the sanctions, underscores a widespread fear among banks of reprisals from Washington for working with targeted Russian individuals and entities.

For Russia's elite, such steps could close off an important avenue for finance as well as a safe haven for billions of roubles of their wealth.

"Credit Suisse works with international regulators wherever it does business to ensure compliance with sanctions, including compliance with sanctions involving Russia," said a spokeswoman for the bank, which did not identify the owners of the money.

Long popular with wealthy Russians for its combination of bank secrecy, political stability and glitzy ski resorts such as Zermatt and St. Moritz, Switzerland has become one of the most important destinations for money leaving Russia.

Roughly $6.2 billion, or 14 percent of total Russian cross-border outflows, went to Switzerland in 2017 — almost three times as much as went to the United States, according to Russian central bank data.

The latest round of sanctions was announced in April by U.S. Treasury Secretary Steven Mnuchin to penalise Russia for its annexation of Crimea, involvement in the war in Syria and "attempting to subvert Western democracies".

More could follow.

U.S. President Donald Trump has said he would like better ties with Moscow, but although he met Russian President Vladimir Putin last month, relations between the countries remain strained.

Earlier this month, members of Congress, where both chambers are controlled by Trump's fellow Republicans, called for more action, including introducing new sanctions legislation "from hell", to punish the Russian "menace".

While U.S. sanctions do not apply to neutral Switzerland, its banks are obliged to follow suit because they depend on access to the dollar and could be blackballed by the United States for any missteps.

The Credit Suisse asset freeze took place in the second quarter. It is rare for a Swiss bank to reveal such details.

Two of its rivals, UBS and Julius Baer, said they also respected international sanctions, but declined to say whether they had taken similar steps.

"UBS ... implements worldwide at least the sanctions currently imposed by Switzerland, the U.N., the EU and the U.S.," said a spokesman for UBS.

A spokesman for Julius Baer said it "cooperates with international regulators ... in the field of sanction regulations".

Credit Suisse is being cautious in part because of earlier bad experiences. In 2009, it reached a $500 million settlement with U.S. authorities over dealings with sanctions-hit Iran.

There have been other instances where European banks have been punished. In 2014, France's BNP Paribas agreed to pay a record $8.9 billion for violating U.S. sanctions against Sudan, Cuba and Iran.

Switzerland's banking watchdog FINMA does not require Swiss banks to enforce foreign sanctions, but has said they have a responsibility to minimise legal and reputational risks.

source: news.abs-cbn.com

FIFA World Cup: Shaqiri snatches last-gasp win for Swiss over Serbia

KALININGRAD, Russia - A thunderous strike by Granit Xhaka and a last-minute breakaway goal by Xherdan Shaqiri gave Switzerland a 2-1 win over Serbia on Friday in a swashbuckling World Cup Group E match tinged with Balkan rivalry.

Serbia went ahead with an Aleksandar Mitrovic header after five minutes to the delight of their fervent supporters at the Kaliningrad stadium.

Xhaka silenced the Serbian contingent in the 52nd minute, however, when he rifled home a loose ball in spectacular style from 25 metres before Shaqiri broke away to win the game at the death.

Xhaka and Shaqiri are among several members of the Swiss squad who are of Kosovar heritage, which added an extra dimension to the match.

Serbia refuses to recognise the independence of its former province Kosovo which broke away 10 years ago.

There was also controversy in the 65th minute when Mitrovic appeared to be held down as he went for a cross but the referee waved play on and there was no video review.

The result left Brazil, 2-0 winners over Costa Rica, top with four points, ahead of Switzerland on goal difference with Serbia on three.

Brazil and Serbia meet in their final game while the Swiss face Costa Rica, already eliminated after losing their first two games.

"We had a rollercoaster ride. They went 1-0 up and we found our balance in the second half," Switzerland coach Vladimir Petkovic told reporters.

Serbia made a flying start and Mitrovic forced Swiss goalkeeper Yann Sommer into an early save with a close-range header.

Sommer was powerless, however, in the fifth minute when Nemanja Matic won the ball and found Dusan Tadic, whose cross was met with a soaring header from Mitrovic.

With Mitrovic proving a handful for the Swiss defence, Serbia threatened to over-run their opponents and missed another chance when a corner flew across the face of goal and Dusko Tosic just failed to make contact.

Switzerland came right back into the game seven minutes after halftime thanks to Xhaka's fulminating strike after a rebound fell nicely into his path.

Xhaka was almost upstaged by Shaqiri who clipped the crossbar with a curling, dipping shot from the unlikeliest of angles and the match turned into a pulsating end-to-end affair which was brilliantly settled by Shaqiri.

Switzerland cleared a Serbia attack and a through pass sent the diminutive forward scuttling away before he slotted the ball neatly into the far corner.

source: news.abs-cbn.com

FIFA World Cup: Brazil held to 1-1 draw by Switzerland in Group E opener

ROSTOV-ON-DON, Russia, - Brazil joined the host of big guns who have failed to fire in their opening World Cup game as lax defending from a corner allowed Switzerland to cancel out Philippe Coutinho's spectacular curling strike and grab a 1-1 draw on Sunday.

The five-times world champions took a deserved lead midway through the first half in the Group E game when Coutinho's irresistible long-distance shot cannoned in off the far post, but Tite's side, who had looked so impressive in the tournament build-up, failed to build on their advantage.

The highly organised Swiss hit back early in the second period from one of their few chances as Brazil's Casemiro and Miranda switched off and the unmarked Steven Zuber barely had to leave his feet to nod in Xherdan Shaqiri's whipped corner.

Brazil went all out in pursuit of a winner and came agonisingly close to finding it but had to settle for a point and joined fellow tournament favourites Germany, Spain and Argentina in failing to win their first game.

Neymar's flamboyant blond 'spaghetti' haircut certainly caught the eye although he only gave glimpses of the spectacular dribbles and plays he is renowned for and which led Paris St Germain to shell out 222 million euros for.

Instead, Brazil's second most expensive player, Coutinho, pulled Tite's side's strings, constantly finding right winger Willian and drifting striker Gabriel Jesus with sweeping passes although Switzerland managed to deal with the threat.

They foolishly offered him the chance to demonstrate his most spectacular quality, however, when a cross from Marcelo was cleared into the path of the Barcelona midfielder, who wrapped his right foot around the ball and delivered an irresistible finish to break the deadlock in the 20th minute.

The whirlwind finish delighted the Rostov Arena, where yellow-shirted Brazil fans vastly outnumbered the red of the Swiss, although Tite's side failed to build further momentum, as Neymar was frequently stopped in his tracks by tactical fouls from Vladimir Petkovic's side.

The PSG forward, who was making only his second start since a metatarsal injury ended his season in February, did not look as if he had fully recovered, as his coach had warned on the eve of the game by admitting his side's talisman was "not 100 percent".

Still, Brazil always looked in control until they ceded a corner and Zuber took full advantage of their collective lapse of concentration.

They made a far bigger effort than the Swiss to find a second goal and were not far from finding it.

Coutinho and Miranda each lashed wide from inside the area while Neymar and substitute Roberto Firmino were denied by Swiss goalkeeper Yann Sommer. (Reporting by Richard Martin, editing by Neil Robinson)

source: news.abs-cbn.com

Switzerland on top after narrow win over N. Ireland in World Cup

BELFAST - Switzerland took a giant step towards qualifying for Russia 2018 on Thursday but needed a controversial penalty to earn a 1-0 win against stubborn Northern Ireland in the first leg of their World Cup play-off.

Vladimir Petkovic's team dominated the match at Windsor Park in Belfast but squandered a succession of chances as Michael O'Neill's team held them at bay in a backs-to-the-wall performance.

The key moment came with just over half an hour to go, when Xherdan Shaqiri's volley from range was blocked by Corry Evans just a few yards away in the box and the referee pointed to the spot, even though the ball struck him on his shoulder as he took evasive action.

Ricardo Rodriguez made no mistake from the penalty spot, sending Michael McGovern the wrong way as the visitors finally made their superiority count to put them in the driving seat in the two-legged tie.

Shaqiri said he did not know whether it was a penalty or not.

"I tried to get a shot on target and I don't know if he touched it with his hand or not. In the end the referee gave the penalty," he said. "That is football.

"We controlled the game over 90 minutes, had a lot of possession and created chances. We played much better than Northern Ireland and deserved to win."

But O'Neill raged at the decision, saying he did not understand how the referee could award the spot kick.

"The referee has no-one in his line of sight," he said. "Corry's arm isn't in an unnatural position, it's by his side. The ball hits him on the back more than anything. I thought the referee had blown for a foul or an offside. Nobody had claimed for it."

"I'm staggered by the decision, staggered by the yellow card but there's nothing we can do about it now," he added. "There's anger in the dressing room in there. They feel very aggrieved about what's happened."

RECKLESS

O'Neill also said Fabian Schaer deserved a red card for a reckless tackle on Stuart Dallas in the opening minutes, adding: "The referee hasn't done us any favors."

The Swiss are unlucky to find themselves in the play-offs after winning nine of their 10 games in Group B but were pipped to top spot by Portugal.

Emerging to a sea of green and white flags, Northern Ireland started brightly in a raucous atmosphere and Schaer was lucky to escape with just a yellow card after his studs-up challenge on Dallas.

But the visitors quickly found their rhythm. Granit Xhaka had a couple of chances before Haris Seferovic latched onto the end of a fine cross from the impressive Shaqiri but McGovern saved smartly.

Despite dominating possession, Switzerland could not find a breakthrough as Northern Ireland, who conceded just six goals in their qualifying campaign, survived until the break.

Within seconds of the restart Shaqiri came close to breaking the deadlock with a curling left-footed effort that whistled just over and Seferovic was inches away from getting his boot to a cross.

But the away side needed a lucky break to finally edge ahead and it came courtesy of the soft penalty, which also saw Evans booked, meaning he will miss Sunday's second leg in Basel.

Northern Ireland, who posed a threat from set-pieces, had a good chance to equalise when Josh Magennis connected with a free-kick from Chris Brunt but he steered his header wide.

Northern Ireland, who finished a distant second in Group C behind world champions Germany, are aiming to reach their first World Cup finals since 1986 and just the fourth in their history, while Switzerland have reached the past three tournaments.

source: news.abs-cbn.com

Macron-style reforms key to growth: World Economic Forum

GENEVA, Switzerland - Policies promoting labor force flexibility, like those pushed through by French President Emmanuel Macron, are key to fostering a competitive economy, the World Economic Forum said in its flagship report on Wednesday.

The Forum's annual Global Competitiveness Report studies a dozen indicators from nations across the globe to assess their growth prospects.

Perennial winner Switzerland remained atop this year's list, with regular front-runners the United States, Singapore, the Netherlands and Germany rounding out the top 5.

But Forum economists told reporters that a key finding this year was that labour force flexibility, combined with worker protection, were vital, arguing that both can be achieved simultaneously.

"Competitiveness is enhanced, not weakened by combining degrees of flexibility within the labour force with adequate protection of workers rights," the Forum said in a statement.

The report's launch comes as French labor unions and leftist leaders mobilize for what they say will be a lengthy battle against Macron's labor law changes.

Macron's signature reforms aim to give businesses more freedom to negotiate conditions with workers, while also making it easier to fire people and giving higher payouts to those made redundant.

"I think in the case of France, what we have seen ... is too much rigidity in the labor market, which in these times of rapid change prevent the evolution of the economy," Thierry Geiger, the head of research in the Future of Economic Progress department at the Forum told AFP.

"We advocate for flexibility but combined with a safety net," he added.

Geiger argued that countries like Switzerland and Denmark had proven there was "no tradeoff" between labor force flexibility and worker protection.

Investing in retraining and unemployment benefits should be a part of the policy mix, the report said.

Richard Samans, a Forum managing board member and former economic adviser to president Bill Clinton's US administration, applauded moves in France toward "greater flexibility" but cautioned that labor leaders needed to be part of any transition process.

France languished in 22nd place on the competitiveness index, falling one place from last year.

Globally, there were no big movers in this year's competitiveness rankings, unlike past reports that have seen Asian giants like India make major strides.

The Geneva-based World Economic Forum is best known for hosting an annual gathering of the global power-players at the Swiss Alpine resort Davos and has been criticized by some for celebrating the influence of elites.

source: news.abs-cbn.com

New digital piggy bank helps Swiss kids save

ZURICH - In Switzerland, one of the world's wealthiest countries, financial planning starts young.

The country's number two bank Credit Suisse on Tuesday unveiled a piggy bank with built-in apps allowing children under 12 to set savings goals, check their balance and make payments.

"The financial education of children is a concern to people in Switzerland," Credit Suisse said in a statement, citing a recent study showing that 90 percent of parents in the wealthy Alpine nation want their children to learn how to handle money.

The study, conducted by the amPuls market research firm on behalf of Credit Suisse, also found that most children in Switzerland not only receive pocket money but "are frugal with it".

According to the research, Swiss parents have asked questions about how to teach children about money when it increasingly exists in digital form instead of coins and notes that can be stored in an old-fashioned piggy bank.

Named Viva Kids, the piggy bank "provides a wide range of options for teaching kids in a simple way how cash and digital money work and how to use them," Credit Suisse said.

source: news.abs-cbn.com

Swatch goes into car batteries as investors question strategy

ZURICH - Three years ago, Swatch Group was riding high. The world's largest watchmaker, known for its colorful plastic watches as well as upscale brands including Breguet, reported record gross sales.

Then in several newspaper interviews in 2015 and in early 2016, chief executive Nick Hayek announced that he was taking the company in a new direction, launching a battery for electric vehicles with the goal of reaching $10-15 billion sales by 2020.

Investors called the plan expensive and unrealistic and with 2016 group sales predicted to be below last year's 8.45 billion Swiss francs ($8.36 billion), inventory rising and Hayek refusing to announce savings despite slowing sales, they are questioning the group's strategy.

Urs Beck, a fund manager at EFG Asset Management who has Swatch among his top 10 holdings, said Hayek had lost some credibility with investors because his forecasts had not always come true.

"When he says 10, you know it can be 5," Beck said.

"There is little information on the Swatch battery. Hayek is known for giving fancy forecasts that often only materialize in the long term."

Carine Menache, who runs a family investment company and has Swatch among her biggest holdings, said it had not been an easy ride, but she had nevertheless added to her position when the share price fell below 250 francs in August.

"It seems to be coming back, but hope is not an investment strategy," she said, adding that Hayek was a good manager but should diversify more into luxury accessories and launch more limited editions or smartwatches.

"I have not heard that they were cutting costs, but they should probably do that."

A spokesman for Swatch Group declined to comment on criticism of its strategy but said in an emailed statement the company was not planning to reduce production capacity now or in the future.

The share price has fallen by 12 percent so far this year on top of a 21 percent drop last year. That compares to 7 and 19 percent declines respectively at rival Richemont. Swatch trades at a 17 percent discount to Richemont relative to 12-month forward earnings.

At over 20 percent, short interest in Swatch's bearer shares is no longer at the peaks seen earlier this year, but still high, IHS Markit data shows, reflecting short sellers' expectation that the shares will fall further.

TIMETABLE UNREALISTIC

The car battery has been jointly developed by Belenos Clean Power, in which Swatch holds a 51 percent stake, and the Swiss Federal Institute of Technology (ETH) in Zurich.

Car batteries are an attractive growth market if numbers of electric vehicles (EVs) explode to two-thirds of all cars by 2030 in wealthy cities, as several studies predict.

But it is also a highly competitive field, where heavyweights like Tesla and Panasonic invest billions to gain scale and bring down costs for the currently dominating Lithium-ion batteries.

Prototypes are being produced at Swatch's Renata battery unit near Basel but have not yet been presented to investors who are waiting for signs of progress.

"The timetable seems unrealistic to me. It is impossible to get from zero to 10 billion sales within just three years," said Paul Wyser, owner of Swiss battery maker Wyon and a former Swatch Group manager who still owns some shares.

"Battery development takes time because of the comprehensive safety tests. You also need to see if it works over the long term."

Technical details have also been scarce. Swatch has said that the new battery uses a vanadium pentoxide compound for the cathodes and a new electrolyte composition, giving it higher energy density, a longer life span, shorter recharging times and a better safety profile than conventional batteries.

Wyser said vanadium pentoxide was available and cheap, but was just one of many materials being tested for car batteries at the moment with an uncertain outcome.

Hayek, who declined to comment for this article, has said publicly that the battery could generate revenue of $10-15 billion by 2020, from use in cars, e-bikes, e-scooters and drones.

EXPENSIVE DEVELOPMENT

Others have questioned the cost associated with the project.

"You need to invest a lot before you get a return," Vontobel analyst Rene Weber said.

Swatch has not provided any financial details on the project, but Hayek said in a newspaper interview that it signed a memorandum of understanding with Chinese car maker Geely in May and that the battery could be jointly produced in China from early 2017 if tests were successful.

But Geely sounded a cautious note: "This is one of many projects, we work with a lot of suppliers," spokesman Ashley Sutcliffe told Reuters by phone.

"It's early stages for both parties right now. Whether we'll develop it together or invest in the project, that is all too far away."

Beck said the outlook for the project was not clear.

"Investors do not have any figures, just this long-term fantasy that something could come of the cooperation with Geely...There are so many joint venture partners, that even if the project becomes a success, Swatch Group will probably only get a small share of it," he said.

Nevertheless, Beck said liked the Swatch's long-term approach and even the high inventory levels.

"It is when the cycle is at its lowest that you can gain market share and Swatch Group is well positioned for that," he said.

source: news.abs-cbn.com

LOOK: Patek Philippe watch fetches record $11M at auction

A stainless steel Patek Philippe watch has sold for a record $11 million (10.2 million euros) in Geneva, an auction house said Monday.

The piece from the Swiss company's 1518 series sold on Saturday for 11,002,000 Swiss francs following a 13-minute bidding war, according to a statement from Phillips, a leading watch auction firm based in London.

When Patek Philippe introduced the 1518 series in 1941, they were the first-ever perpetual calendar chronographs, meaning they were the first timepieces that had both a stop-watch function as well as a calendar designed to keep track of dates for centuries, with leap years factored in.

The piece sold on Saturday was made in 1943, Phillips said, calling its sale price "a new world record for any wristwatch at auction", which more than tripped the pre-sale estimate.

Neither the buyer, nor the seller were identified.

A total of 177 watches were sold over weekend in the Swiss city, fetching $27.5 million collectively.

source: www.abs-cbnnews.com

High-stakes summit eyes anti-doping overhaul

LAUSANNE, SWITZERLAND -- After a Russian doping scandal plunged the Olympic movement into one of its worst crises, top figures in world sport meet on Saturday in a bid to overhaul global drug testing.

Relations between the International Olympic Committee (IOC) and the body it created to promote clean competition, the World Anti-Doping Agency (WADA), hit historic lows ahead of this summer's Rio Games.

Some IOC leaders accused WADA of reacting too slowly to evidence that Russia was running a massive state-sponsored doping programme and questioned the agency's governance.

WADA countered that it has been left dangerously under-resourced.

Saturday's summit in Lausanne, Switzerland is an effort to turn the page and forge "a more robust, more efficient and more independent worldwide anti-doping system," an IOC statement said.

Olympic chief Thomas Bach will huddle behind closed doors with the head of the world athletics governing body (IAAF) Sebastian Coe, FIFA boss Gianni Infantino and WADA president Craig Reedie.

The heads of the Russian, American and Chinese Olympic committees will also be on hand.

Bach will hold a conference call with reporters at 2:30 pm (1230 GMT) to discuss the summit's outcomes, but the prospects for concrete decisions are uncertain.

WHAT DOES THE IOC WANT?

Currently, anti-doping controls are run by individual sports federations, with WADA overseeing global compliance -- essentially trying to ensure that federations follow a broad set of rules.

Bach has said unequivocally that the IOC wants testing to be removed from the federations' hands to do away with a system that is ripe for conflicts of interest.

What that means for WADA's future is not entirely clear.

In October 2015, before the Russia scandal exploded, the IOC floated the idea that global testing could be taken over by an independent body.

It seemed logical to some that a beefed-up WADA could assume responsibility for drug controls across all sports, but months of acrimony and accusations have clouded the situation.

Aside from the Russia doping crisis that saw dozens of its competitors banned from Rio, WADA's integrity took a further hit when hackers seemingly intent on exposing perceived double standards leaked WADA medical records of more than 100 top global athletes.

The hack was carried out by a group calling itself "Fancy Bears", believed to be Russian, and revealed which banned medications major stars were legitimately taking under so-called "therapeutic use exemptions" (TUEs).

WADA's difficulties and its tensions with the IOC fuelled suggestions that a new entity could be created to oversee testing.

Asked about the expectations for Saturday's talks, Bach told AFP that the IOC "will make some constructive proposals", underscoring that Olympic leaders were already looking at overhauling anti-doping measures "well before" the latest crises came to light.

Bach has also backed reforms that would see the Court of Arbitration for Sport (CAS) decide on penalties for anyone caught cheating. At present, sanctions are decided by the sports themselves with CAS only hearing appeals.

Bach argues that letting a single court punish dopers in all sports would improve transparency and save money.

- WADA confident -
WADA, established in 1999, is 50 percent funded by the IOC.

But despite simmering tensions with its powerful parent WADA officials have predicted that the agency will remain a strong presence in the intensifying fight for clean sport.

"I do not think that the situation is critical for WADA," its director general Olivier Niggli said last month.

Highlighting the agency's essential role, he stressed it was WADA that commissioned the bombshell report on Russian doping, unveiling perhaps the largest cheating scandal in Olympic history.

That report, led by Canadian lawyer Richard McLaren, is due to be published in full in the coming weeks.

source: www.abs-cbnnews.com

Here come the robots: Davos bosses brace for big tech shocks

DAVOS, SWITZERLAND - Implantable mobile phones. 3D-printed organs for transplant. Clothes and reading-glasses connected to the Internet.

Such things may be science fiction today but they will be scientific fact by 2025 as the world enters an era of advanced robotics, artificial intelligence and gene editing, according to executives surveyed by the World Economic Forum (WEF).

Nearly half of those questioned also expect an artificial intelligence machine to be sitting on a corporate board of directors within the next decade.

Welcome to the next industrial revolution.

After steam, mass production and information technology, the so-called "fourth industrial revolution" will bring ever faster cycles of innovation, posing huge challenges to companies, workers, governments and societies alike.

The promise is cheaper goods and services, driving a new wave of economic growth. The threat is mass unemployment and a further breakdown of already strained trust between corporations and populations.

"There is an economic surplus that is going to be created as a result of this fourth industrial revolution," Satya Nadella, chief executive of Microsoft, told the WEF's annual meeting in Davos on Wednesday.

"The question is how evenly will it be spread between countries, between people in different economic strata and also different parts of the economy."

Robots are already on the march, moving from factories into homes, hospitals, shops, restaurants and even war zones, while advances in areas like artificial neural networks are starting to blur the barriers between man and machine.

One of the most in-demand participants in Davos this year is not a central banker, CEO or politician but a prize-winning South Korean robot called HUBO, which is strutting its stuff amid a crowd of smartphone-clicking delegates.

But there are deep worries, as well as awe, at what technology can do.

A new report from UBS released in Davos predicts that extreme levels of automation and connectivity will worsen already deepening inequalities by widening the wealth gap between developed and developing economies.

“The fourth industrial revolution has potentially inverted the competitive advantage that emerging markets have had in the form of low-cost labor,” said Lutfey Siddiqi, global head of emerging markets for FX, rates and credit at UBS.

“It is likely, I would think, that it will exacerbate inequality if policy measures are not taken.”

An analysis of major economies by the Swiss bank concludes that Switzerland is the country best-placed to adapt to the new robot world, while Argentina ranks bottom.

WINNERS AND LOSERS

There will be winners and losers among companies, too, as new players move into established industries with disruptive new technologies.

That is something uppermost in the minds of Davos attendees such as General Motors CEO Mary Barra, who is confronting the threat of driverless cars - another science fiction that has become science fact - or bank boss Jamie Dimon at JPMorgan Chase, facing competition from digital "fintech" start-ups.

Such innovations, coupled with the rise of robots in both the manufacturing and service sectors, could automate vast numbers of jobs. Oxford University researchers predicted in 2013, for example, that 47 percent of U.S. jobs were at risk.

Such fears about technology destroying jobs are not new. The economist John Maynard Keynes famously cried wolf in 1931, by issuing a warning of widespread "technological unemployment".

The question is whether this time will be different, given the speed to change and the fact that machines now offer brain as well as brawn, threatening professions previously seen as immune, such as entry-level journalism or routine financial analysis.

Pessimists fear this will hollow out middle-income, middle-class jobs on an unprecedented scale, with the WEF itself predicting that more than 5 million jobs could be lost in 15 major economies by 2020.

But ManpowerGroup CEO Jonas Prising is more upbeat for the long term. "If history is any indicator, we'll have more jobs being created in the end than are going to be destroyed," he said.

However, beyond the Davos talking-shop there are doubts about how well business leaders will actually plan for the future.

"When you have these very big levels of disruptive change you need some pretty serious thinking and action," said Ian Goldin, professor of globalization and development at Oxford University.

"But the CEO who really looks years ahead and looks at broader social issues is rare, even in Davos."

source: www.abs-cbnnews.com