Manny Pacquiao will enter the ring for boxing’s ‘fight of the century’ with an entire country in his corner as the Philippines grinds to a halt to dementedly cheer on its favourite son against Floyd Mayweather.
Streets will be empty on fight day — Sunday morning local time — as the impoverished nation of 100 million cheers its “National Fist” in huge open-air screenings, cinemas, bars and homes.
Pacquiao’s image is ubiquitous, emblazoned across giant billboards lining major highways and on shirts, dolls and stamps in stores everywhere.
“The world will stop on Sunday. Everybody is excited,” 32-year-old Manila taxi driver Glenn Yago said on Friday.
“There will be mayhem in the streets after the fight,” he said, looking forward to a bumper crop of fares once the bout is over.
Don’t miss any of the build-up to the ‘Fight of the Century’ with The National’s special Mayweather v Pacquiao section
The rags-to-riches story of Pacquiao, along with his famously humble manner, has made him a towering national hero.
For many of his countrymen the 36-year-old, winner of an unprecedented eight world championships in different weight divisions, symbolises their hope of escaping the grinding poverty that afflicts one in four Filipinos.
Hundreds of cinema screens will show the fight from Las Vegas, displacing the Hollywood movie “Avengers: Age of Ultron”, according to screening schedules.
The country’s three biggest networks said they would air it on free television. Giant screens will be set up in covered courts, village halls and military and police camps.
On Palawan Island, the electricity utility has even urged its customers to turn off their refrigerators to avoid power shortages that could blackout TV sets.
In the southern area of Santa Catalina, still reeling from a rebel siege two years ago, hundreds will cram into several houses with pay-per-view access to the fight, said village leader Jimmy Villaflores.
And to ensure uninterrupted viewing free of blackouts, Villaflores said he had rented several generators.
Police expect villains to be just as avidly following the action broadcast from the MGM Grand Garden Arena.
“Pacquiao has a proven impact on the occurrence of crimes. The crime rate goes down because everybody is holed up watching him fight,” national police spokesman Senior Superintendent Bartolome Tobias told AFP.
The fight has taken on an epic hue, pitching the modest David of the Philippines against an American Goliath, the brash — and undefeated — Mayweather.
Listen: Steve Luckings and Jon Turner provide all the information of where to watch the fight in the UAE
The ‘Pac-Man’, who started his career as a fish port worker, is now also a member of parliament, actor, basketball professional and popular singer. His supporters want him to run for the presidency.
“He put the Philippines on the world map ... I’m a huge fan. He is the best boxer in the world,” beef-stew hawker Arvel Oquendo said at his pavement stall in Manila.
“The whole country may be in disarray, but for a few hours, we will forget all our problems.”
Security guard Brando Tachado, 31, is another who sees Pacquiao as a projection of national pride for a country beset by not just poverty but also corruption and serial natural disasters.
“His victory will bring honour to our country,” Tachado said.
But in a nation wearily used to overcoming adversity, Oquendo said he would remain a devoted Pacquiao fan come what may.
The street hawker said: “It’s OK if he loses. We Filipinos know how to handle defeat. We rise from it.”
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Company%20profile
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The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
COMPANY%20PROFILE%20
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Poacher
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
Company profile
Company name: Dharma
Date started: 2018
Founders: Charaf El Mansouri, Nisma Benani, Leah Howe
Based: Abu Dhabi
Sector: TravelTech
Funding stage: Pre-series A
Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
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SPECS
Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now
How to protect yourself when air quality drops
Install an air filter in your home.
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Shower or bath after being outside.
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How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
MATCH INFO
Argentina 47 (Tries: Sanchez, Tuculet (2), Mallia (2), De La Fuente, Bertranou; Cons: Sanchez 5, Urdapilleta)
United States 17 (Tries: Scully (2), Lasike; Cons: MacGinty)