LATEST STORIES Robert Bolick paced San Beda with 15 points, five rebounds, and two assists, while Donald Tankoua got 14 markers and nine boards.AC Soberano also shot 2-of-5 from three to wound up with nine points, while Javee Mocon got eight markers and 14 rebounds in the win.FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSFederer blasts lack of communication on Australian Open smog“We’re happy we got this win, but we got to go back and think about our priorities,” said coach Boyet Fernandez, obviously disappointed with how the Red Lions played against the Altas.“We only had 11 assists and that’s too low for a San Beda basketball team. Our defense stepped up, but our offense is questionable. We have to go back and review everything. We had a really hard time playing against Perpetual, they’re well-coached. We’re happy we got this one.” Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scene Photo by Tristan Tamayo/ INQUIRER.netSan Beda escaped the tough challenge from Perpetual and scored a 55-50 victory in the NCAA Season 93 men’s basketball tournament Tuesday at Filoil Flying V Centre in San Juan.The Red Lions survived the gallant stand from the pesky Altas as they were forced to play in the low-scoring affair before pulling out their 13th straight win and improve to 14-1.ADVERTISEMENT For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. Sports Related Videospowered by AdSparcRead Next OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson Don’t miss out on the latest news and information. It’s too early to present Duterte’s ‘legacy’ – Lacson Derek Jeter’s group closes on purchase of Miami Marlins Mos Burger to open in Manila; teases with a pop-up In ‘Jojo Rabbit,’ Comedy and Drama Collide DAY6 is for everybody The Scores:SAN BEDA 55 – Bolick 15, Tankoua 14, Soberano 9, Mocon 8, Cabanag 6, Noah 3, Abuda 0, Adamos 0, Bahio 0, Doliguez 0, Oftana 0, Presbitero 0, Tongco 0.PERPETUAL 50 – Coronel 9, Dagangon 9, Pido 9, Eze 8, Ylagan 7, Sadiwa 3, Lucente 2, Yuhico 2, Mangalino 1, Singontiko 0, Tamayo 0.Quarters: 11-11, 27-19, 43-34, 55-50. MOST READ With Perpetual making a huge run late after back-to-back layups from Keith Pido to cut the San Beda lead down to five, 49-44, San Beda went to Tankoua in the last four minutes as he made two timely buckets to quash the uprising.Bolick then put the finishing touches as he canned his freebies in the final minute while also blocking Flash Sadiwa’s late attempt.The Altas fourth straight loss eliminated them out of the playoff race with their 4-10 record.Pido, AJ Coronel, and Gab Dagangon all had nine points and four rebounds in the losing effort.The San Beda defense held Perpetual main man Prince Eze to just eight markers and 11 boards in the loss.ADVERTISEMENT Jake says relationship with Shaina ‘goes beyond physical attraction’ Redemption is sweet for Ginebra, Scottie Thompson 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 How to help the Taal evacuees View comments
…as frustration grows over bank, cambio shortages…Govt maintains scarcity contrivedBoth Finance Minister Winston Jordan and Governor of the Central Bank of Guyana, Dr. Gobind Ganga, are maintaining that there is no shortage of foreign currencies in Guyana.Dr. Ganga has said that despite stern warnings from authorities, businesses are suspected to be hoarding foreign currencies, and commercial banks and cambios are claim shortages in order to cause customers to resort to paying exorbitant rates for foreign currencies, even purchasing elsewhere in light of the contrived scarcity.And Finance Minister Winston Jordan recently announced on a radio programme that the Central Bank has no record of shortages at commercial banks. “The Governor has assured me that he doesn’t know anything about that, because the banks haven’t approached him for foreign exchange,” Jordan stated on the radio programme.Usually, when commercial banks experience a shortage, they turn to the Bank of Guyana to purchase the currency to meet the demands.Jordan recently announced that the foreign exchange reserves at the Bank of Guyana are in excess of US$600 million, but commercial banks and cambios across the country continue to turn away customers, claiming a shortage of the US dollar; and based on the findings of this newspaper’s investigations, popular cambios are turning away regular patrons who are interested in purchasing foreign currencies. This has resulted in businesspersons and the average Guyanese being forced to buy foreign currencies at exploitative rates.Around the city, money changers have already raised their rates for the US dollar to G$220, although the rate currently hovers at G$210.HoardingDuring the mentioned radio programme, the Finance Minister said he believes there is a deliberate attempt to starve the economy of foreign currencies.Junior Finance Minister Jaipaul Sharma has also opined that commercial banks and cambios are hoarding foreign currencies in order to get better prices from preferred markets.He told Guyana Times on Saturday: “Maybe they tell the customers ‘no’ so they could get a higher rate. Maybe they are keeping it for some friend or some special customer.”Nonetheless, he does not believe the situation warrants a probe. According to the Junior Finance Minister, Government cannot control what the commercial banks and cambios tell their customers.QuestionsQuestions are now being raised about why commercial banks and cambios are turning away local customers interesting in purchasing US currency, and why the banks and cambios are not informing the Central Bank if they claim a shortage exists.Sharma explained that the only way Government can launch an investigation is if commercial banks visit the Central Bank with the supportive documents to prove they are experiencing a shortage but are being denied opportunity to purchase foreign currencies.The Junior Finance Minister emphasised that no commercial bank has visited the Central Bank claiming a shortage.WarningGovernment had signalled its intention to move sternly against businesses hoarding foreign currencies, because such a practice has the potential to destabalise the economy.Jordan contemplates the possibility that hoarding is being practised in order to create depreciation in domestic currency.He also noted that some exporters and importers are conducting mutual foreign exchange transactions outside of the exchange market structure.