Revamped Pacers rely on new faces to cut down Nets

first_imgOSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson D’Angelo Russell scored 30 points in his Nets debut but backcourt mate Jeremy Lin limped to the locker room with an injury midway through the fourth quarter. Trevor Booker finished with 20 points and 10 rebounds, but it wasn’t enough to prevent the Nets from losing a franchise-record fifth consecutive season opener.Despite having chances to take control, neither could.Brooklyn led 30-29 after one quarter, the Pacers took a 65-63 halftime lead and then used a 10-0 third-quarter run to build a 75-65 lead. Brooklyn never led again.FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSFederer blasts lack of communication on Australian Open smogBut the Nets charged back in the final minutes, trimming a 10-point deficit to 130-126 before the Pacers finally managed to close it out.TIP-INSNets: Have lost all six road openers since moving to Brooklyn. … The Nets are 3-3 all-time against Indiana in season openers, the opponent they have played most frequently on opening night. … Brooklyn put Timofey Mozgov and Lin in the starting lineup Wednesday, marking the first time in franchise history that more than one undrafted player started a season opener. … Brooklyn was 29 of 32 from the free-throw line. … Lin had 18 points, while Allen Crabbe and Caris LeVert each finished with 12. Pacers: Won their fourth straight game against Brooklyn. … Indiana has won six of its last seven season openers and seven of its last eight home openers. … Bojan Bogdanovic scored 14 points against his former team. … Lance Stephenson and Domantas Sabonis each scored 16 points off the bench. … Oladipo also had four steals. … It’s only the third time since 2000 that Indiana has scored 140 or more points.UP NEXTNets: Host Orlando in home opener on Saturday.Pacers: Host Portland on Friday.Sports Related Videospowered by AdSparcRead Next LATEST STORIES Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Rockets’ Chris Paul still dealing with bruised left knee View comments MOST READ Kiss-and-tell matinee idol’s conquests: True stories or tall tales? Jake says relationship with Shaina ‘goes beyond physical attraction’center_img Don’t miss out on the latest news and information. Judy Ann’s 1st project for 2020 is giving her a ‘stomachache’ Victor Oladipo #4 of the Indiana Pacers dribbles the ball against the Brooklyn Nets at Bankers Life Fieldhouse on October 18, 2017 in Indianapolis, Indiana. Andy Lyons/Getty Images/AFPINDIANAPOLIS — Victor Oladipo scored 22 points in his Indiana debut, Darren Collison added 21 points and 11 assists in his return to Indianapolis, and the Pacers held off the Brooklyn Nets 140-131 on Wednesday night in their season opener.Eight players scored in double figures as the Pacers, in their first game since trading All-Star Paul George, produced their highest point total since a 144-point game against Denver on Nov. 9, 2010. Myles Turner had 21 points and 14 rebounds, and Thaddeus Young added 17 points and 11 rebounds.ADVERTISEMENT Jo Koy: My brain always wants to think funny Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scene Coco’s house rules on ‘Probinsyano’ set It’s too early to present Duterte’s ‘legacy’ – Lacson Jake says relationship with Shaina ‘goes beyond physical attraction’last_img read more

Liberian Economy Shrinks to 0.4%

first_imgIn the face of the ongoing Ebola crisis, the Liberian economy is being dealt huge blows, receding by over 6 percent in less than six months. The gross domestic product (GDP) was projected to have grown by 5.9 percent in the first quarter of 2014, but it is now revised downward to 0.4 percent due to the health crisis in the country. In 2013, projected gross domestic product (GDP) growth was 8.0 percent, but it was later revised downward to 5.9 percent prior to the Ebola outbreak.GDP growth was further projected downward to 2.5 percent after the Ebola outbreak and has now shrunk into negative growth. With the increasing threats the Ebola outbreak poses to the economy, the Liberian Government also revised its draft fiscal budget downward reducing revenue projections from over US$540 million to about US$470 million. This is happening in the face of increasing government spending. The Minister of Finance and Development Planning (MFDP), Mr. Amara M. Konneh told reporters at the Ministry of Information, Cultural Affairs and Tourism (MICAT) regular press briefing yesterday that the economy is undergoing serious stress as a result of the Ebola crisis and the need to intervene in further stabilizing the country’s already fragile economy cannot be overemphasized.“The government is challenged in dealing with deficit financing. We have a very huge task in dealing with deficit financing because we don’t want to sink our country into another huge debt,” said Minister Konneh. With the numbers in fiscal deficit lingering around US$305 million, Konneh declared that the government’s Economic Management Team (EMT) has taken several stringent measures towards ensuring strong fiscal discipline in government to create savings, while it is looking for new external sources of funding mainly grants money, to finance the deficit. “We as a nation and people are going through a very difficult period when our efforts to recover from past trials, consolidate the dividends of peace and build a strong and diverse economy still titter on the brink of instability as a result of the prolonged presence of the EVD on our shores,” he said. This massive decline in economic activities can be attributed, in part, to external factors, as the country’s chief export commodity rubber price dipped by 41.2 percent per ton on the world market. Rubber price on the world market has reduced from US$126.8 per ton in 2013 to US$74.6 per ton as of September 2014.  This decline is further exacerbated by a 39.2 percent decline in the price of iron ore from US$135.4 per metric ton in 2013 to US$82.3 per metric ton as of September 2014. Minister Konneh explained that the declines in the prices of the country’s chief export commodities is a consequence of the economic slowdown in China as well as an appreciation of the US dollar, which is up 2.5 percent. The massive decrease in the prices of the country’s primary commodities has meanwhile resulted in a 31 percent and 81 percent decrease in export earnings from rubber and iron ore, respectively. Average inflation rate has been projected at 11.4 percent for 2014, up from 7.6 percent for 2013, while the end-of-period inflation rate for 2014 is projected at 14.7 percent, up from 8.5 per cent in 2013. This is far beyond the single digit inflation requirement by the West African Monetary Zone and other monetary unions, of which Liberia is a part. The domestic causes of the economic decline are even more demanding, as total government revenue and grants are projected at 27.4 percent of GDP for fiscal year 2014/15, down from 29.9 percent of GDP for fiscal year 2013/14. Total expenditure plus net lending for fiscal year 2014/15, on the other hand, is projected at 28.6 percent of GDP, down from 31.4 percent of GDP for fiscal year 2013/14. The overall fiscal balance including grants for 2014/15, registers a projected deficit of 1.2 percent of GDP, as compared to a deficit of 1.6 percent for 2013/14. But the overall fiscal balance, excluding grants for 2014/15, reflects a projected deficit of 4.9 percent of GDP as compared to a deficit of 4.0 percent for 2013/14.“Owing to this widening fiscal deficit,” said Minister Konneh, “the public external debt for 2014/15 is projected at 14.3 percent of GDP, as compared to 11.6 percent of GDP for 2013/14; while the central government’s domestic debt for 2014/15 is projected at 15.0 percent of GDP, as compared to 16.6 percent of GDP for 2013/14.”Despite these numbers showing looming threat, Minister Konneh assured the public that the government cannot afford to lose sight of its responsibility to effectively govern and remain fully accountable to the people.“The successes we have seen in the field owing largely to our health care workers and the resilience of our communities, must invoke a renewed sense of national urgency to deal with the governance issues that all but exposed our country during these trying times,” he said.The Minister released three very important documents to the public including the first quarter fiscal outturn covering the period July 1st to September 30th 2014 and the First Quarter Consolidated Fund Account and the Ebola National Financing Report, reflecting contributions and expenditure on core Ebola response activities, in line with the National Ebola Response Plan.He challenged ministries and agencies including security agencies that received the Ebola fund to compile and submit their reports to the Ministry of Finance and the General Auditing Commission (GAC) for audit purpose.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more