BusinessMirror August 20 2025

(EU) list of high-risk third countries on 10 June 2025—its third exit this year, according to the Bangko Sentral ng Pilipinas (BSP).

In its decision, the EU cited improved effectiveness in the country’s anti-money laundering/countering the financing of terrorism regime and resolution of technical deficiencies identified by the Financial Action Task Force (FATF).

BSP Governor Eli M. Remolona said even with this latest development, the central bank remains committed to continue its fight with financial crimes and uphold global standards.

“The BSP remains firmly committed to driving financial sector reforms, strengthening AML/CTPF supervision (antimoney laundering/ countering terrorism and proliferation financing), and building a resilient, inclusive financial system that supports economic growth and global confidence,” Remolona said.

The BSP Governor, who also chairs the Anti-Money Laundering Council (AMLC), said that work is ongoing to identify areas where the Philippines can

SBy Ada Pelonia @adapelonia

CIENTISTS want to help the Philippines regain its status as the world’s secondlargest exporter of bananas by making the local variety pestresistant and prolonging its shelf life through genome editing. Reynante Ordonio, Scientist I of the Philippine Rice Research Institute (PhilRice), said United Kingdom-based biotechnology company Tropic is seeking the country’s approval of a geneedited banana that is resistant to Panama disease.

The same company has received approval of a non-browning gene-edited banana from the Bureau of Plant Industry (BPI) that could potentially extend the crop’s shelf life and reduce wastage.

Ordonio explained that geneediting eliminates the polyphenol oxidase gene that catalyzes the oxidation process, which turns fruits brown. “So, when those genes are lost, [bananas] stay fresh for a longer period of time and won’t turn brown [immediately],” he told the BusinessMirror on the sidelines of

By Andrea E. San Juan

THE Philippines could lose $2.2 billion in export revenues in the latter half of 2025 alone due to the new duties slapped by the United States, according to local think tank UP Center for Integrative and Development Studies (UP CIDS).

In its policy brief, the think tank explained that while the 19-percent tariff imposed by the United States on most Philippine exports excludes some high-value sectors, notably electronics and machinery, it still affects approximately one-third of total Philippine exports to the US, particularly labor-intensive goods such as garments, footwear, and tobacco.

Using detailed 2024 trade data and product-level elasticities, the policy

brief “simulated” the short-term impact of the new tariff regime.

“Results suggest a projected fall in Philippine exports to the US from US$14.6 billion to US$11.5 billion, leading to a projected trade loss of US$2.2 billion in the latter half of 2025 alone,” the think tank noted.

UP CIDS said while some product lines may benefit from a reduced tariff relative to their previous Most Favored Nation (MFN) rates, these are “marginal” and do not offset losses in major product categories.

With this, the think tank pointed to the need for strategic adaptation through domestic procurement reform, industrial upgrading under the Tatak Pinoy Strategy, and regional coalition-building.

The UP CIDS policy brief also ex-

plained that the policy shift brought about by the imposed tariffs of Washington presents a “dual risk” for the Philippines, whose export portfolio is “heavily concentrated” in electronics and labor-intensive consumer goods.

“On one hand, preferential treatment for high-value sectors like semiconductors was preserved. On the other, exposed segments face severe competitive pressure from regional suppliers not subject to similar tariffs,” the think tank noted.

Explaining the sectoral scope of the tariffs, the policy brief said several strategic sectors are exempt, based on the US Customs guidance and Annex II of E.O. No. 14257.

These include electronics, chemicals, fuels, metals, and machinery, primarily those under Harmonized

System (HS) Chapers 27 and 72 to 85 (White House 2025b).

After accounting for exemptions, UP CIDS said approximately 30 percent of 2024 Philippine exports to the US remain covered by the full 19-percent rate. Meanwhile, the “most affected” products are garments, tobacco, leather goods, and footwear.

“These sectors are highly labor-intensive and represent long-standing Philippine strengths in low- to medium-value manufacturing,” the policy brief noted.

On August 7,2025, the United States imposed a uniform 19-percent tariff on most Philippine exports, pursuant to US Executive Order No. 14257 and “subsequent” bilateral negotiations.

of President Manuel L. Quezon, Interior Secretary Jonvic Remulla, Quezon Governor Dr. Helen Tan, and BGen. Jose Ambrocio Rustia lead the

Perez

City on August 19, 2025. Quezon, hailed as the “Father of the Philippine Commonwealth,” championed national unity and the promotion of the Filipino language, which laid the

AI-driven data centers need lots of energy

options tailored for digital infrastructure,” he said.

Furthermore, he also urged the Energy Regulatory Commission (ERC) to act with equal urgency, noting that the regulator plays a central role in determining how fast new power capacity comes online. “The ERC must streamline the process for competitive selection and approvals of power supply agreements. Delays at the regulatory level are holding back critical infrastructure that will support the digital economy,” Manhit said.

He added that infrastructure planning must now include digital demands. “Power corridors must be built where data centers are likely to be located. Permitting must be streamlined. Energy pricing must be competitive. These are non-negotiables if we want to lead in the AI economy.”

“We support the government’s push for digitalization. But it must be matched by a power strategy that’s aggressive, realistic, and future-facing,” Manhit said. He concluded, “No power, no place at the table. That’s the hard truth in the AI economy.

Marcos admin won’t touch MUP pension system issue

By Reine Juvierre S. Alberto @reine_alberto

THEMarcos Jr. administration will leave the reforms to the military and uniformed personnel (MUP) pension system untouched, according to Finance Secretary Ralph G. Recto.

“I think the reform will be more costly at this point in time,” Recto told reporters on Monday night when asked about his stance on the MUP reform.

“ Wala na yung [There is no more] MUP reform, so far, for the remainder of the term,” Recto said.

This is despite earlier remarks by Budget Secretary Amenah F. Pangandaman that the reform will be studied by the Legislative-Executive Development Advisory Council (LEDAC) in September if it is still included among the priority legislation.

Pangandaman said that “there really is no fiscal space” as the current pension system does not require any contribution from the MUPs and is fully funded by taxpayers.

For next year, the government is proposing a higher budget allocation of P197.991 billion for the pension and gratuity fund (PGF) covering MUPs’ pension and retirement gratuity and terminal leave benefits.

The PGF increased by 36.80 percent from this year’s P144.724-billion budget.

When Recto was appointed finance secretary in January last year, he said new entrants must now be required to contribute to their pension, while active personnel and retirees would continue to rely on the current taxpayerfunded scheme.

However, Recto’s stand is different from his immediate predecessor, now Monetary Board member Benjamin E.

Diokno, who has lobbied that the reforms cover both active personnel and new entrants.

Covering both types of personnel, according to Diokno, would create the necessary fiscal space for the national government (See: https://businessmirror. com.ph/2024/01/25/rectodrops-ex-dof-chiefs-stance-onmilitary-pension/).

From 2018, Diokno said pension commitments have consistently exceeded the budget for maintenance and other operating expenses and capital outlay of the military and uniformed services. Allowing the automatic indexation of pensions to continue will also be unsustainable, which, combined with guaranteed increases, will further widen the

deficit, Diokno said. Both chambers are tackling reforms to the MUP pension system, with the House of Representatives approving House Bill No. 8969 in 2023 to require a 9-percent contribution from new entrants matched by a 12-percent government share.

The Senate counterpart measure, Senate Bill No. 2501, has been pending second reading since November and proposes setting a retirement pay at 50 percent of the base salary of a retiree’s last rank while also requiring contributions from new members.

The economic team also conducted a series of dialogues with MUPs to discuss the proposed changes in the pension system.

DA to build ₧2-B cold storage facilities by 2026

THE Department of Agriculture (DA) will build P2 billion worth of mega cold storage facilities by 2026, aimed at extending the shelf life of vegetable produce.

Agriculture Secretary Francisco Tiu Laurel Jr. said the storage facilities will have a capacity of 5,000 metric tons (MT) each that will mostly cater to vegetables.

“We’re targeting to [set up] these large cold storage facilities by the middle of next year,”

Laurel said in a recent interview with DWIZ.

Such a move would prolong the shelf life of vegetables and prevent wastage, which tends to happen during bumper crop harvests.

According to Laurel, the facilities will be built in Nueva Ecija, Mindoro, Taguig, and Camarines Sur. While these facilities are expected to be operationalized next year, the DA chief said the cold storage in Camarines Sur could be established by yearend.

Laurel noted that the budget for the cold storage facilities was earmarked under the agency’s 2024 budget, which has only started to be bid out.

In January, the DA said it is eyeing to build around 99 cold storage facilities worth P3 billion this year to prolong the shelf life of fresh produce and ensure stable supply. (See: https://businessmirror.com.ph/2025/01/27/da-eyeingto-build-%E2%82%B13b-worth-of-coldstorage-facilities-this-year/)

Laurel said President Marcos Jr. had approved the use of P1.5 billion in unprogrammed funds last year to kick start the cold storage network’s

development while the agency allocated another P1.5 billion through the 2025 General Appropriations Act (GAA).

“The unprogrammed funds will be spent to build around 65 small or modular chiller-type cold storage facilities across the country and a large cold storage facility to be built in Camarines Sur,” Laurel said in a statement.

Two large facilities, one possibly in San Jose, Occidental Mindoro, and another in Cabanatuan, Nueva Ecija—along with around 31 modular units across the country are also lined up. Most of the small facilities are expected to start operating this year.

“By improving the cold chain infrastructure, we will strengthen the agricultural sector, reduce farm losses, extend the shelf life of agricultural products, stabilize supply and prices, and ensure food security,” Laurel said.

The DA chief explained that the cold storage facilities’ key features were sustainability and low cost of operation.

He said the refrigerated warehouses are hybrid infrastructure that could be powered by electricity from renewable energy sources such as solar and wind, and those supplied through the grid to ensure efficient and environmentally friendly operations.

The agency said construction of the large storage facilities is expected to take around 18 to 22 months after awarding the contract. Each facility will have a capacity of 2,800 to 3,500 pallet positions, depending on the products. Ada Pelonia

a biotechnology workshop organized by ISAAA and Bayer Philippines in Manila on Tuesday.

“This will have a significant impact because it will reduce waste and prolong bananas’ shelf life, which is great for our exporters.”

The Philippines held a six-year streak as the world’s second-largest exporter of bananas before it slipped to third place in 2023 after being dislodged by Guatemala. It maintained the same spot last year. (See: https://businessmirror.com. ph/2025/07/21/phl-still-the-3rdlargest-banana-exporter/)

The country’s banana output continued to be battered by the persistent spread of the Banana Fusarium Wilt Tropical Race 4 (TR4) also known as Panama disease.

“Panama disease is effectively targeted by gene-edited bananas. It’s another trait. The first trait is the non-browning one, and the other trait is the TR4-resistant banana,” Ordonio said.

For her part, International Service for the Acquisition of Agri-Biotech Applications (ISAAA) Executive Director Rhodora Romero-Aldemita said a disease-resistant banana is crucial for the Philippines.

“Banana is one of the export earners of the Philippines, and it is always affected by virus diseases and fungal diseases,” Aldemita said. She also noted that the Philippines could forge an agreement for a material transfer of a genetically modified or gene-edited banana and ensure that these are adapted to the country’s local conditions.

“We know that they are already in existence in other parts of the world [...] we can just get a material transfer agreement, get the genetically modified or the gene-edited banana, bring them to the Philippines, test it, and make sure that they are resistant or they are adapted to our local conditions,” Aldemita said.

“This is so that our bananas, particularly the Cavendish banana which is very susceptible to diseases, would be growing with high yield and we can export a lot more.”

China’s water lily industry produces more than 150 million heads annually, with a market size estimated at CNY10 billion (about P79.4 billion), according to the China Flower Association.

The plants are used widely in temple offerings, cosmetics, aesthetics, medicine and the commercial flower trade.

Yet, despite large-scale cultivation, it continues to import seeds for specific varieties or to supplement production.

Sources include India, Australia and other Southeast Asian countries.

In the Philippines, water lilies are abundant in water bodies

such as Laguna Lake, Pasig River and Manila Bay, where they are often treated as pests due to their impact on water quality and their role in harboring disease vectors. Government agencies, however, have explored ways to make use of the plants.

In 2020, the Department of Environment and Natural Resources tapped fisherfolk to harvest water lilies, while the Department of Science and Technology developed a water hyacinth harvester in 2012 to clear waterways. Water lilies have also supported community-based enterprises, with associations such as the Cataban Weavers Association and groups in Las Piñas City producing handicrafts like baskets, bags, trays and hats from the plant.

Xu said cooperation with Philippine institutions has yet to be formalized but noted the potential for collaboration on breeding and seed development for aquatic plants.

“The Chinese market is very great. In the Philippines, you can produce much more material, fresh flowers of water lily through trade import into China,” she said.

“We are looking forward to it.”

further improve its capacity to fight financial crimes and keep abreast with global standards.

Earlier, the Philippines was also removed from the United Kingdom’s list of high-risk third countries on 27 March 2025 following the outcomes of the FATF plenary meeting held in February 2025.

BSP said the exit from the FATF, UK, and EU watchlists signals growing international confidence in the Philippines’ anti-money laundering/ countering terrorism and proliferation financing (AML/CTPF) regime.

“This development is expected to generate benefits, including lower remittance fees and improved relationship of Philippine banks with foreign counterparts, which drives business activities,” BSP said.

In February 2025, the Philippines officially exited the Financial Action Task Force’s (FATF) “grey list” after nearly four years, but it was urged to sustain improvements in its AML/CFT measures.

The Paris-based global financial watchdog announced the country’s delisting after a plenary session, citing the Philippines’s completion of its action plan within the agreed timeframe (See: https://businessmirror.com. ph/2025/02/22/phl-exits-fatfsdirty-money-grey-list/).

In June 2025, the European Commission removed the Philippines from its list of “high-risk jurisdictions” when it comes to AML/CFT.

The European Commission said the Philippines is one of the countries that have already addressed their technical deficiencies on AML/CFT.

Apart from the Philippines, other countries that were removed from the “dirty money” list also includes Barbados, Jamaica, Senegal and Uganda (See: https://businessmirror.com. ph/2025/06/12/phl-no-longerdirty-money-hub-says-europeancommission/).

Sanya.

Peace adviser calls for ‘open, sincere’ dialogue with MILF

AN

“open and sincere” dialogue is the best way to address the current impasse between the government and the Moro Islamic Liberation Front (MILF), Presidential Peace Adviser Secretary Carlito Galvez Jr. said on Tuesday.

In a statement, Galvez said despite the current differences, the Bangsamoro peace process remains “robust and dynamic.”

“To address these apparent differences, we believe an open and sincere dialogue between both sides is the best way forward,” the Office of the Presidential Adviser on Peace, Reconciliation and Unity (Opapru) chief said, reiterating that the government remains fully committed to the Comprehensive Agreement on the Bangsamoro (CAB).

The CAB is the peace agreement signed by the government and the MILF in 2014 that aims to resolve the decades-long armed conflict in Mindanao and establish the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

“The Bangsamoro peace process remains robust and dynamic owing to the steadfast commitment of both the government and the MILF to its broader aims,” Galvez said.

On July 19, the MILF Central Committee temporarily suspended the implementation of the fourth and final decommissioning of MILF fighters until there is “substantial compliance” by the Philippine government in the other tracks of the normalization process, including the provision of a socio-economic package as agreed upon by the government and MILF peace implementing panels.

Galvez said they view MILF chairman Al Haj Murad Ebrahim’s MILF Memorandum Order 3— which prohibits its commanders and officials from taking part in any “decommissioning or normalization activities” organized by the national government—as an “internal matter for the organization.”

Meanwhile, Galvez said the government is open to discussing with the MILF leadership which programs can be jointly implemented without violating any prohibition related to the October 13 BARMM parliamentary elections.

An activity that will be affected by the election ban is the decommissioning of combatants and firearms, as the gun ban prevents the government from carrying out such operations. PNA

Teacher-solon to Sara: Look who’s talking

By Jovee Marie N. dela Cruz @joveemarie

AHOUSE of Represen -

tatives deputy minor -

ity leader slammed Vice President Sara Duterte for claiming that the country’s education system remains stuck at the “paper and pencil” stage, saying she has no moral authority to criticize a crisis that deteriorated under her watch as education secretary, when learning materials delivery reached only 11 percent and just 192 classrooms were built in 2023.

Party-list Rep. Antonio Tinio, the nominee of ACT Teachers, cited the Congressional Policy and Budget Research Department (CPBRD) report, which showed dismal budget utilization under Duterte’s leadership—textbook and learning materials delivery had only 11 percent to 17 percent disbursement rates in 2023 and 2024.

“Vice President Duterte has the audacity to criticize the education system when she herself is the worst DepEd secretary ever,” said Tinio.

“VP Duterte even failed to deliver even a tiny fraction of what was expected of her during her tenure as Education secretary,” Tinio declared.

“How can she complain about our students lacking access to modern technology when she couldn’t even ensure they had basic textbooks and learning

materials?” Tinio asked.

The lawmaker also pointed to the Commission on Audit (COA) report showing that DepEd built just 192 out of its 6,379 classroom target in 2023.

“She prioritized confidential funds in the DepEd over addressing the learning crisis. You are definitely the worst DepEd secretary ever!” said Tinio. During the 19th Congress, the House investigated the alleged misuse of P500 million in confidential funds by the Office of the Vice President and P112.5 million by the DepEd under Duterte’s leadership.

Tinio underscored that the learning crisis Duterte now laments is the direct result of her poor performance and the Marcos administration’s “misplaced priorities.”

“Under her watch, school-based feeding programs achieved only 48 percent implementation while billions of pesos allocated for education remained unutilized. How can hungry children without books be expected to learn robotics and coding?” Tinio stated.

He also noted that the reading deficiencies among high school students, which Duterte cited, worsened during her tenure. “The Unicef [United Nations Children’s Fund] statistics she now uses are an indictment of her own failures, not just of the system,” Tinio pointed out.

‘PHL will not be first to provoke’

By Jane Magturo

THE National Maritime Council has ruled out the deployment of Navy ships to drive away intruders at the Panatag or Scarborough Shoal, despite recent harassment by Chinese maritime forces, “since doing so would be seen as warlike.”

Undersecretary Alexander Lopez, spokesman for the council, said President Marcos’ directive is clear: the Philippines must not be the first to provoke.

Speaking at the Second Quarter Maritime Council news conference, Lopez said in Filipino, “First

of all, the President’s directive is very clear—whatever we do, we will not be the one to provoke.” Lopez explained that China had previously deployed a People’s Liberation Army Navy warship to the area, but the Philippines has consistently avoided sending a

Navy vessel.

He noted that deploying a Navy vessel would amount to a “warlike” posture.

“Why? Because once you deploy a Navy vessel there, you come in warlike. It’s like you’re challenging them. That is not the policy stance of our government,” Lopez also said in Filipino.

He added that such encounters could lead to misjudgment and miscalculation, which the Philippines wants to avoid.

“We are not going to escalate because we do not know what will happen if two Navy vessels are there. That’s where miscalculation and misjudgment could happen, and that is what we do not want.”

Lopez maintained that prudence, not weakness, drives the government’s stance, stressing that an escalation would harm not just Manila but also Beijing and the wider region.

“If ever it escalates, it is not in

the best interest of our country. It is not even in the best interest of China for that matter or of the region. So, we might as well tone it down and bring it down to a level that we can manage.”

Meanwhile, the Coast Guard (PCG) spokesperson for the West Philippine Sea, Commo. Jay Tarriela, said contingency measures are in place should tensions further escalate.

“Well, what the government is doing, in particular the Philippine Coast Guard, is to make sure that we are deploying skippers of the vessels who are excellent in seamanship skills,” he said.

“Contingency measures or plans are in place. So, sinasabi naman na iyong  hope, but actually we are planning for the worst scenario,” he added.

“Whatever happens, actually our government is prepared for anything without going into the details.”

DOT, attached agencies to defend lower ’26 budget

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

THE Department of Tourism (DOT) has been obligated to ask for a budget of some P3.137 billion for 2026, almost unchanged from its allocation this year. The proposed budget is just for the Office of the Secretary (Osec).

Of the total, some P1.1 billion will fund the agency’s market and development program, which includes a P500-million branding campaign, documents on the National Expenditure Program 2026 from the Department of Budget and Management show.

The budget also includes a proposed P75-million allocation for a locally funded project called “Culinary Guide Selection and Activation for the Philippines’ Emergence as a Global Gastronomy Tourism Destination,” which will also be implemented by the Central Office. Deliberations on DOT’s budget start on September 2.

In total, the proposed 2026 budget of DOT-Osec and three attached agencies—the Intramuros Administration (IA), National

Court: Insurance

THE Supreme Court (SC) has ruled that an insurance claim for a carjacked vehicle remains valid despite its recovery.

Thus, in a 37-page ruling written by Associate Justice Jean Paul Inting, the Court’s Third Division reinstated the decision issued by the Regional Trial Court in Makati City which granted the insurance claim of Wilfrido Wijangco for his stolen 2003 Jaguar.

The SC decision set aside the Court of Appeals (CA) decision and resolution issued on September 24, 2020 and June 16, 2021, respectively, which nullified the Makati RTC’s ruling.

It held that Wijangco was able to establish the total loss of the subject vehicle by a preponderance of evidence.

Likewise, the SC stressed that the recovery of the said vehicle does not negate its loss through theft.

“Anent the subsequent recovery of the subject vehicle, the Court finds that it is

Parks Development Committee (NPDC), and Philippine Commission for Scuba Sports Diving (PCSSD)—is P3.65 billion, 5-percent less than this year’s programmed P3.84 billion.

Is Frasco staying or going?

THIS developed as rumors were rife over the weekend that Tourism Secretary Christina Garcia Frasco may soon be leaving her post, although sources close to the embattled Cabinet Secretary told the  BusinessMirror  that, “She said she’s okay [i.e., she will be retained] and that she had spoken with the President.” Another source added that the job assurance was made by President Marcos during his recent state visit to India.

Among the supposed candidates for DOT’s top post is actress and former media executive Charo Santos-Concio and former Sen. Grace Poe. Most of the social media posts supporting SantosConcio as DOT Secretary came from pro-Duterte accounts. But a source who knows Santos-Concio shared, “I seriously doubt it. She’s having fun being an actress now.” In previous interviews,

immaterial to the present case. Common sense dictates that the mere recovery of a stolen vehicle does not and will not erase the fact of theft,” the SC stressed.

“Several cases decided by the Court also laid down the rule that the subsequent recovery of a stolen motor vehicle does not negate theft, which is perfected from the moment of unlawful taking,” it added.

Record of the case indicate that the subject vehicle was mortgaged with AMA Rural Bank of Mandaluyong Inc. and insured with respondent UCPB General Insurance Co., Inc in the amount of P1,800,000for the period covering March 12, 2006 to March 12, 2007.

On August 24, 2006, at around 5:00 p.m., Wijangco’s son, Andrew, was at the parking lot along President’s Avenue, Sucat, Parañaque City, when two unidentified men held him at gunpoint.

The armed men threatened him and drove away with the car.

the actress had revealed she had been offered to run as Senator many times.

On the other hand, Poe’s rumored appointment is being discussed among tourism stakeholders with ties to Malacañang. The senator’s name, likewise, came up after Marcos asked for the courtesy resignation of his Cabinet Secretaries in May. Frasco recently received the ire of few legislators from the House of Representatives noting the poor tourist arrivals and Marcos’ lack of any mention of the sector’s performance in his State of the Nation Address.

The DOT chief attributed this toher vocal support of her husband, Cebu Rep. Duke Frasco, who was expelled from the National Unity Party, for not supporting Leyte Rep. Martin Romualdez as Speaker. (See, “Frasco hits back at critics; tourist arrivals still 3 million,” in the BusinessMirror , August 1, 2025.)

Only ‘Scuba’ gets more funds UNLIKE previous budget proposals, the NEP 2026 shows performance indicators for target tourism revenues, instead of

After regaining his composure, Andrew called a friend and both of them reported the incident to the Parañaque City Police at around 9:50 p.m. of August 24, 2006.

On September 1, 2006, Wijangco filed a claim with UCPB Insurance and submitted all the required documents on October 10, 2006.

UCPB later informed Wijangco that the vehicle had been recovered by the Traffic Management Group (TMG) and that his claim was put on hold.

The insurance company also advised the petitioner to submit an investigation clearance from the Traffic Management Group (TMG) as an additional requirement in order to proceed with his claim.

This prompted Wijangco to file a case against UCPB for violation of the Civil Code and Presidential Decree 612, as amended by Republic Act 10607 (Insurance Code), and for damages.

visitor arrivals. For next year, DOT is aiming for P2.17 trillion in tourism revenue, slightly lower than this year’s target of P2.24 trillion. The target revenue was also lower than the agency’s baseline goal of P3.47 trillion for 2026 under its National Tourism Development Plan for 2023-2028, from P3.05 trillion this year. Aside from the proposed appropriation, the DOT also has access to some P4.6 million for marketing and promotions under the Tourism Development Fund (TDF), and around P243.76 million for tourism-related projects. As per the Commission of Audit, the DOT has not been using the TDF, which has accumulated to P78.41 million from 2019 to 2023. (See, “Use tourism development fund, COA tells DOT,” in the BusinessMirror, Dec. 19, 2024.)

Its attached agencies have lower budgets for 2026, except for the PCSSD, which has asked for P43.29 million from P24.34 million this year. IA has a proposed budget of P155.34 million (from P296.10 million), while the NPDC has asked for some P315.6 million (from P379.4 million).

In upholding the Makati RTC’s ruling, the SC noted that Section 249 of the Insurance Code requires insurers to pay claims within specified periods after receiving proof of loss. It added that once this period lapses and before the insured vehicle is recovered, the insurer’s payment for the loss becomes final, and the insured cannot be compelled to accept the recovered vehicle.

In Wijangco’s case, the SC noted that he filed his proof of loss on October 10, 2006, but UCPB informed him of the recovery 162 days later, which is well beyond the 90-day legal limit.

It also noted that even the Jaguar was recovered, it was unserviceable, several of its parts were missing, and showed heavy damage. Thus, the Court ordered UCPB to pay Wijangco P1.8 million in insurance proceeds and P180,000 or 10 percent of the insurance proceeds.

Zero balance billing in DOH hospitals on track

By Samuel P. Medenilla

@sam_medenilla

ITH at least 14,000 pa -

Wtients availing of the zero balance billing policy in hospitals under the Department of Health (DOH), President Marcos said the program is proceeding smoothly and can accommodate more patients.

Marcos made the statement after observing the implementation of the zero balance billing policy or Bayad na ang Bill Mo (BBM)

NBy Lenie Lectura @llectura

EARLY 5,000 households in off-grid areas will be energized this year, the Department of Energy (DOE) said on Tuesday. Under the DOE Locally Funded Project—Total Electrification Program (LFP-TEP) for Fiscal Year 2025, the agency and five electric cooperatives (ECs)

By Lorenz S. Marasigan @lorenzmarasigan

THE Philippine Ports Author -

ity (PPA) said millions of travelers have enjoyed reduced expenses under its Passenger Terminal Fee Exemption (PTFE) program, which has waived terminal fees for 8.77 million passengers since its expansion in 2019. Through PPA Administrative Order 04-2019, the agency grants free terminal fee privileges to

program at the East Avenue Medical Center (EAMC) in Quezon City on Tuesday.

“I’m happy to report that the zero [balance] billing program is proceeding well,” he said after the inspection.

On Monday, the President also visited the Eastern Visayas Medical Center (EVMC) in Tacloban City to check on the roll out of the program.

Since Marcos announced the implementation of the program in his fourth State of the Na -

will energize the first batch of electrification projects.

The Aklan Electric Cooperative Inc., Aurora Electric Cooperative Inc., La Union Electric Cooperative Inc., Quezon II Electric Cooperative Inc., and Southern Leyte Electric Cooperative, Inc. will roll out energization projects for unserved and underserved barangays, sitios, and households, particularly in far-flung, off-grid, and

students, senior citizens, persons with disabilities (PWDs), and uniformed personnel of the Armed Forces (AFP), National Police (PNP), and Coast Guard (PCG), upon presentation of valid IDs at PPA-owned terminals nationwide.

Medal of Valor awardees and their first-degree dependents also benefit from the program.

The policy, which upgraded the previous 20-percent discount to a full exemption, has resulted in P219.26 million worth of waived

tion Address last month, DOH said the program benefited over 12,000 patients at the EVMC and more than 2,400 patients from the EAMC.

Inpatients who will avail of the program do not need to pay for treatment as long as they stay in basic accommodations or wards.

The zero-balance billing program is available for outpatients, wherein they can get free consultations and medicines.

BBM is already being implemented in 83 hospitals, which

geographically isolated areas for 1,492 households.

For P192.8 million, the DOE and the implementing ECs will deploy a mix of on-grid connections and microgrid solutions— or a hybrid system technology with renewable energy component, to deliver reliable, leastcost power.

The National Electrification Administration (NEA), which oversees all ECs, was consulted in

fees over seven years. “PPA remains committed to ensuring equitable access to maritime transport. By continuing to exempt these sectors from terminal fees, we recognize their contributions to society and reduce their travel expenses,” PPA

General Manger Jay Daniel Santiago said.

As of July this year alone, 1.69 million passengers have availed of the exemption, equivalent to P34.27 million in foregone rev -

are run by the DOH nationwide and four government-owned and -controlled corporation medical facilities.

Marcos is optimistic that more patients will avail of BBM once they become aware of the program. “Let us spread the word. Let us inform the public so they will not have second thoughts when it comes to having check up, treatment, and recovery [in DOH hospitals],” he said in Filipino in an interview with reporters at the EAMC. With Claudeth Mocon-Ciriaco

identifying the recipients for the first batch of the LFP-TEP.

The LFP-TEP 2025 is the DOE’s flagship push to accelerate electrification through government funding and aligning strategies with distribution utilities, ECs, local government units, and other stakeholders.

The DOE and its partners will roll out subsequent batches of LFP-TEP projects throughout 2025.

enue. Students comprised the largest group at 814,253 beneficiaries (P17.27 million), followed by 682,371 senior citizens (P12.93 million), 124,519 PWDs (P2.58 million), and 71,234 uniformed personnel (P1.49 million).

PPA records showed that the Port Management Office (PMO) in Batangas logged the highest number of senior citizen beneficiaries at 94,623, while PMO Mindoro posted the highest exemption value at P2.24 million.

Villar pushes free housing in schools for teachers

SEN. Mark Villar is seeking to ease the daily struggles of public school teachers through a bill that would establish free housing facilities within or near school campuses. In filing the “Teachers’ Home in School Act,” Villar said the measure would particularly benefit educators assigned in remote areas who often endure long commutes or are forced to live away from their families.

The ACT Teachers lawmaker urged the government to pursue real reforms instead of rhetoric, including raising education spending to at least 6 percent of gross domestic product, addressing shortages in classrooms, textbooks, and equipment, and increasing teachers’ salaries to prevent brain drain.

“Many of our teachers spend hours on the road or rent small rooms just to be near their students. This bill is about ensuring they have a safe and decent place to live while fulfilling their mission to educate,” Villar, whose family is in the housing development business, said.

The proposal comes as the public school system continues to expand. Department of Education

“The welfare of commuters should come first in implementing these projects. Our proposed Magna Carta for Commuters aims to make sure that their commute will be affordable, comfortable, and safe,” he said. Yamsuan said special focus should be placed on the safety of daily commuting, as he expressed concern over the standard practice done by several transportation companies of allowing drivers to work

(DepEd) records show 20.8 million students are enrolled for school year 2024–2025, while the Department of Budget and Management (DBM) has approved the creation of 16,000 new teaching posts for 2025–2026.

Under the measure, the DepEd and the Department of Public Works and Highways (DPWH) will jointly oversee the construction of houses. Funding will be sourced

beyond eight hours or deliberately ignoring maintenance checks on their vehicles to cut costs.

“Many lives have been lost, and the safety of commuters has been placed in jeopardy as a result of road accidents involving reckless PUV drivers or poorly maintained vehicles. One of the key provisions of our proposed Magna Carta is for the government to promote safe and efficient driving behavior by PUV drivers through mandatory training and more stringent licensing,” Yamsuan said.

The proposed training will cover commuter rights, accessibility for persons with disabilities (PWDs), road safety, and basic emergency response.

Yamsuan also lauded the Department of Transportation (DOTr) under Secretary Vivencio Dizon for advancing inclusive and commuter-friendly measures, noting that the Magna Carta would strengthen these initiatives.

Yamsuan said thousands of commuters from his home city of Parañaque, which is home to the Parañaque Integrated Terminal Exchange (PITX), along with millions of other PUV passengers across the country, stand to benefit from the measure.

Besides ensuring that public transportation is safe and convenient, the Magna Carta also protects the rights of commuters to mobility and the availability of public transportation, inclusive infrastructure, and a fair share of road space. It also safeguards their rights to clean

Tatak Pinoy Council needs 4 private sector representatives

By Andrea San Juan @andreasanjuan

THE Department of Trade and Industry (DTI) is calling for endorsements of private sector representatives who are expected to fill up four seats within the Tatak Pinoy Council, a high level advisory body of the President on industrial development and national competitiveness.

“From August 18 to September 17,2025, the Tatak Pinoy Council invites qualified private sector organizations to endorse outstanding individuals to serve as one of four Private Sector Representatives— key partner in shaping the future of Philippine industries,” DTI said in an advisory.

The advisory noted that Private Sector Representatives are tasked to help ensure that policies are “grounded in industry experience.”

DTI said these representatives are going to be “instrumental” in: Recommending strategic policy reforms to strengthen local businesses; Providing first-hand insights into sectoral challenges and opportunities, and Advancing inclusive, innovation-driven economic growth.

“Their participation ensures that the national policies reflect on-theground realities, which is a vital element in forming sound, forward-looking strategies for the Philippine industry,” DTI said.

from the DepEd’s budget and the Special Education Fund from local government property taxes. Villar stressed that improving teachers’ welfare would have a direct impact on the country’s future. “When we provide our teachers with dignified living conditions, we empower them to better nurture the next generation of leaders, thinkers, and innovators,” he said.

air and environmental protection; travel information; assistance during service breakdowns and compensation for service deficiencies; and representation and participation in transport-related policy making.

Under the Magna Carta, public transportation shall have priority over private motor vehicles in terms of road space.

To uphold and promote these rights, the measure requires local governments (LGUs) to, among others, provide a network of pedestrian-friendly sidewalks, bicycle lanes, roads for spaces for non-motorized modes of transport, and waiting areas with proper amenities.

The measure also proposes discounted fares for students, seniors, and PWDs, as well as adequate, accessible, and safe infrastructure that ensures persons with special needs are not excluded.

To ensure the right to clean air, the government is mandated to implement measures that reduce vehicle emissions and encourage the use of electric and nonmotorized transport.

Commuters also have the right to accurate, real-time, and accessible information on transportation routes, fares, and schedules.

Under the bill, a Commuter Protection Office shall be established by the DOTr at both the national and local levels to monitor and ensure compliance with the provisions of the Magna Carta. Jovee Marie N. dela Cruz

being a regular member of the TP Council by Philippine laws, with proven track record and demonstrated impact or contributions in industry and socio-economic development, must be able, willing and competent to participate in all activities of the TP Council.

The private sector representative must not hold any government position whether appointive or elective.

Another qualification that should be met by the endorsed individual is he or she must have served as one of the “main decisionmakers” in the organization, through membership in the management committee, leadership council or similar capacity.

The guidelines released by the Trade department also pointed out that the endorsed individual should demonstrate “high personal and professional integrity” and have “relevant” knowledge, skills, technical, expertise, and the ability to make sound judgment.

Further, the individual to be endorsed as a private sector representative must have no pending criminal, civil, or administrative cases or investigations before any office, court, or tribunal.

The last on the list of qualifications noted that the individual must have managerial experience of at least five years in industry development, in academe, or in socio-economic groups/ organizations.

Based on the guidelines released by DTI on the endorsement and nomination of private sector representatives to the Tatak Pinoy (TP) Council, the Endorsing Entity must meet the following criteria:

It must be duly registered, recognized, licensed, or accredited by any authorized government agency or instrumentality, and/or local government units (LGUs), preferably with membership and/or operations nationwide.

The entity must also have proven track record as a business organization or academic institution, NGOs, CSOs, labor organizations, or other associations of rendering service and/or conducting activities focused on industry or socioeconomic development.

Another criterion is that the endorsing entity must be in operation for a minimum of three years.

To qualify for the position of Private Sector Representative in the Tatak Pinoy Council, the guidelines noted that he or she must be a Filipino citizen, of legal age, not otherwise disqualified from

Continued from A3

According to the DTI, the Screening Committee shall commence the process for the Endorsement and Nomination of Private Sector Representatives to the TP Council.

Created under Republic Act 11981 or the Tatak Pinoy (Proudly Filipino) Act, the TP Council provides “strategic guidance” in formulating and implementing policies and programs that drive industrial growth and strengthen national competitiveness.

DTI said the Council is chaired by the Secretary of Trade and Industry an co-vice-chaired by the Secretaries of the Department of Economy, Planning, and Development (formerly the National Economic and Development Authority) and of Finance. Other members include the Secretaries of Agriculture, of Budget and Management, of Information and Communications Technology, of the Interior and Local Government, of Labor and Employment, and of Science and Technology, along with four private sector representatives.

Wednesday, August 20, 2025 A5

Hamas accepts Arab ceasefire proposal as Palestinian death toll exceeds 62,000

By Victoria Eastwood, Samy Magdy & Melanie Lidman The Associated Press

RAFAH Egypt—Hamas said Monday it has accepted a new proposal from Arab mediators for a ceasefire in the Gaza Strip as Israel indicated its positions haven’t changed, while Gaza’s Health Ministry said the Palestinian death toll from 22 months of war has passed 62,000. US President Donald Trump appeared to cast doubt on the long-running negotiations that Washington has mediated as well. “We will only see the return of the remaining hostages when Hamas is confronted and destroyed!!! The sooner this takes place, the better the chances of success will be,” he posted on social media.

Israel announced plans to reoccupy Gaza City and other heavily populated areas after ceasefire talks appeared to break down last month, raising the possibility of a worsening humanitarian catastrophe in Gaza, which experts say is sliding into famine.

Plans to expand the offensive, in part aimed at pressuring Hamas, have sparked international outrage and infuriated many Israelis who fear for the remaining hostages taken in the Oct. 7, 2023, attack that started the war. Hundreds of thousands took part in mass protests on Sunday calling for their return.

Egypt says Witkoff invited to join talks

EGYPTIAN Foreign Minister Badr Abdelatty said mediators are “exerting extensive efforts” to revive a US proposal for a 60-day ceasefire, during which some of the remaining 50 hostages would be released and the sides would negotiate a lasting ceasefire and the return of the rest.

Abdelatty told The Associated Press they are inviting US envoy Steve Witkoff to join the ceasefire talks.

Abdelatty spoke to journalists during a visit to Egypt’s Rafah crossing with Gaza, which has not functioned since Israel seized the Palestinian side in May 2024. He was accompanied by Mohammad Mustafa, the prime minister of the Palestinian Authority, which has been largely sidelined since the war began.

Abdelatty said Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani had joined the talks, which include senior Hamas leader Khalil al-Hayya, who arrived in Cairo last week. Abdelatty said they are open to other ideas, including for a comprehensive deal that would release all the hostages at once.

Bassem Naim, a senior Hamas official, told the AP that the militant group had accepted the proposal introduced by the mediators, without elaborating.

An Egyptian official, speaking to the AP on condition of anonymity to discuss the talks, said the proposal includes changes to Israel’s pullback of its forces and guarantees for negotiations on a lasting ceasefire during the initial truce. The official said it is almost identical to an earlier proposal accepted by Israel, which has not yet joined the latest talks.

Diaa Rashwan, head of the Egypt State Information Service, told the AP that Egypt and Qatar have sent the Hamas-accepted proposal to Israel.

An Israeli official said Israel’s positions, including on the release of all hostages, had not changed from previous rounds of talks. The official spoke on condition of anonymity because they were not authorized to speak with the media.

Prime Minister Benjamin Netanyahu has vowed to continue the war until all the hostages are returned and Hamas has been disarmed, and to maintain lasting security control over Gaza. Hamas has said it will only release the remaining hostages in exchange for a lasting ceasefire and an Israeli withdrawal.

Netanyahu said in a video addressing the Israeli public that reports of Hamas’ acceptance of the proposal showed that it is “under massive pressure.”

Palestinian death toll surpasses 62,000

HAMAS -led militants abducted 251 people and killed around 1,200, mostly civilians, in the attack that ignited the war. Around 20 of the hostages still in Gaza are believed by Israel to be alive, after most of the rest were released in ceasefires or other deals.

Gaza’s Health Ministry said the Palestinian death toll from the war had climbed to 62,004, with another 156,230 people wounded. It does not say how many were civilians or combatants, but says women and children make up around half the dead.

The ministry is part of the Hamas-run government and staffed by medical professionals. The UN and many independent experts consider its figures to be the most reliable estimate of wartime casualties. Israel disputes its toll but has not provided its own.

The ministry said 1,965 people have been killed while seeking humanitarian aid since May, either in the chaos around UN convoys or while heading to sites operated by the Gaza Humanitarian Foundation, an Israeli-backed American contractor.

Witnesses, health officials and the UN human rights office say Israeli forces have repeatedly fired toward crowds seeking aid. Israel says it has only fired warning shots at people who approached its forces. GHF says its armed contractors have only used pepper spray or fired into the air on rare occasions to prevent deadly crowding.

More deaths linked to malnutrition EXPERTS have warned that Israel’s ongoing offensive is pushing Gaza toward famine, even after it eased a complete 2 1/2-month blockade on the territory in May. Gaza’s Health Ministry said Monday that five more people, including two children, died of malnutrition-related causes. It says at least 112 children have died of malnutrition-related causes since the war began, and 151 adults have died since the ministry started tracking adult malnutrition deaths in June.

Amnesty International on Monday accused Israel of “carrying out a deliberate campaign of starvation.”

Israel has rejected such allegations, saying it allows in enough food and accusing the UN of failing to promptly deliver it. UN agencies say they are hindered by Israeli restrictions and the breakdown of law and order in the territory, around three-quarters of which is now controlled by Israel. The UN World Food Program said Monday that UN partner organizations reported that community kitchens in north and south Gaza produced 380,000 daily meals daily last week—far fewer than the more than 1 million daily meals they produced in April.

A6 Wednesday, August 20, 2025

Editor: Angel R. Calso

Trump pushes Putin-Zelenskyy meeting in bid to broker peace

By Andrea Palasciano, Daryna Krasnolutska, Jennifer A. Dlouhy & Eric Martin

UNITED STATES President Donald Trump called Vladimir Putin and urged the Russian leader to begin making plans for a summit with Volodymyr Zelenskyy, after meeting the Ukrainian president and European leaders at the White House on Monday.

The proposal—which Trump pitched as a one-on-one summit between Ukraine and Russia’s leaders that would be followed by a trilateral gathering involving all three—represented the latest turn in the US president’s push to broker an end to a

conflict that has lasted over three years. But first was the question of whether Putin would agree to direct talks. Russian presidential aide Yuri Ushakov said only that Trump and Putin had discussed the idea. That left uncertain if the rosy language emanating from Washington represented an actual breakthrough toward peace or simply a strategic reunification by Ukraine and its allies.

“I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelenskyy. After that meeting takes place, we will have a Trilat, which would be the two Presidents, plus myself. Again, this was a very good, early step,” Trump wrote in a social media post.

Trump acknowledged a time and location

for a gathering had not been set, adding that US Vice President JD Vance, Secretary of State Marco Rubio and special envoy Steve Witkoff would work to coordinate the possible meeting.

Zelenskyy told reporters in Washington that a bilateral gathering should not carry any conditions and that it was Russia’s idea to have him meet with Putin first before bringing in Trump. The Ukrainian leader said he would be willing to discuss territorial issues with his Russian counterpart.

Still, the developments suggested that the leaders of Ukraine and top European nations had largely succeeded in convincing Trump to maintain their approach to possible negotiations.

Zelenskyy said he was pleased Trump had agreed to two key asks: participating in security guarantees as part of any peace deal and reserving discussion of territorial exchanges for direct talks with Putin.

Trump also said that he may be able to convince Russia to release as many as 1,000 prisoners as a show of good faith, though that push was not mentioned in his or the Kremlin’s subsequent readout of the call with the Russian leader.

And multiple European officials said that they expected another virtual meeting with Trump as soon as Tuesday to discuss the particulars of security guarantees they could collectively offer to Kyiv.

“Today was really about security guarantees, US getting more involved there, and all the details to be hammered out over the coming days,” NATO Secretary General Mark Rutte told reporters.

Taken in total, Monday’s developments represented a reversal of fortune for Kyiv just days after Trump in Alaska said the onus to end the conflict rested with Ukraine.

In Washington, the leaders—who have often struggled to work harmoniously since Trump’s return to power—spent the afternoon praising each other and underscoring their unity.

“It could have gone differently, but my expectations aren’t only met but exceeded when it comes to today’s meeting,” German Chancellor Friedrich Merz said following the meeting.

A possible Putin-Zelenskyy summit could take place within two weeks, Merz told reporters. French President Emmanuel Macron suggested it could be mere hours

before the details of Putin-Zelenskyy talks were set, while the trilateral summit could come within three weeks.

Monday’s meeting at the White House also included UK Prime Minister Keir Starmer, Italian Prime Minister Giorgia Meloni, European Commission President Ursula von der Leyen and Finnish President Alexander Stubb.

“During the meeting we discussed Security Guarantees for Ukraine, which Guarantees would be provided by the various European Countries, with a coordination with the United States of America,” Trump said. “Everyone is very happy about the possibility of PEACE for Russia/Ukraine.”

Ukraine proposed buying $100 billion in American weapons and another $50 billion deal to produce drones with Ukrainian companies, with financing provided by Europe, the Financial Times reported on Monday. Trump publicly said he had convinced Putin that allowing allied security deals would be necessary for a peace deal, and indicated that he was interested in continuing to sell Kyiv weapons.

Trump told reporters during the meeting that “the European nations are going to take a lot of the burden” and the US would “help them and we’re going to make it very secure.”

The tone between Trump and Zelenskyy was notably improved from the Ukrainian president’s last visit to Washington in February, which erupted into a bitter public clash with Trump and briefly led to the US halting military support. Zelenskyy repeatedly thanked Trump, following criticism from Vance six months ago that he was insufficiently grateful for American military and financial aid.

This time, Zelenskyy arrived at the White House donning a jacket after Trump allies criticized the war fatigues he wore to his last sit-down with the US president.

“It’s the best I have,” Zelenskyy said, referring to his outfit, to which Trump replied, “I love it.”

Show of force

EUROPEAN leaders were intent not to leave a positive outcome to chance. They arrived at the White House in a show of diplomatic force behind Ukraine, determined to secure its territorial integrity and obtain ironclad security assurances from Washington.

Trump has accelerated his push to secure a quick deal to stop Russia’s invasion that has persisted despite months of US diplomatic efforts and his campaign-trail vow to end it on his first day in office.

Despite the stakes, the leaders seemed largely jovial. Trump praised the Europeans

for their summertime tans, chatted about golf and was caught on a hot mic polling the group on whether they wanted to take questions from the media.

But even among the bonhomie, the risks for Ukraine have grown even more intense. Trump, after meeting Putin, backed off his threat of more sanctions on Moscow and dropped demands for a ceasefire as a condition for further talks, aligning himself with the Kremlin’s position that negotiations with Ukraine should focus on a long-term settlement.

Zelenskyy said Ukraine would need “everything” from the US and its allies—including weapons and security guarantees—to be able to strike a deal. He cited a program to provide Patriot air defense batteries—paid for by European allies—to the country as Russia ramps up missile and drone attacks, offering his thanks to Trump.

Tense negotiations

THE mood going into the meeting was tense following Trump’s summit with Putin, whose full-scale invasion of Ukraine has left Europe facing its deadliest conflict in decades.

In his calls with European leaders after the Alaska summit, Trump said Putin wants Ukraine to cede control of its entire Donbas region of the Donetsk and Luhansk provinces, renewing earlier demands. That would hand Russia a victory it has been unable to achieve militarily since fighting first erupted in 2014, and in an area where Ukraine retains heavily fortified defenses.

Russia would also halt advancing its claims over the parts of Ukraine’s Zaporizhzhia and Kherson regions that it doesn’t now control, effectively freezing the battle lines at current positions. The Kremlin could also potentially withdraw troops from areas of northeastern Ukraine near the Russian border where its forces control only small pockets of land. That raises the prospect that the “landswapping” Trump has teased as part of any deal will be lopsided in Putin’s favor by giving him control of areas beyond what he’s seized, offset by modest concessions of land that had been Ukraine’s anyhow. Russia, meanwhile, has continued to make slow but steady advances in eastern Ukraine. Hours after Zelenskyy arrived in Washington, Russian attacks on the Ukrainian cities of Kharkiv and Zaporizhzhia killed at least 10 civilians, including two children, and injured dozens, according to local authorities. With assistance from Jordan Fabian, Samy Adghirni and Justin Sink / Bloomberg

Air Canada, flight attendants’ union reach deal to end strike

By Anthony Palazzo

AIR Canada reached a deal with flight attendants to end a three-day walkout that led to mass cancellations during the busy summer season and forced country’s largest airline to withdraw its financial outlook for this year.

The accord was reached early Tuesday after a mediated negotiation session that lasted more than nine hours, the union’s bargaining committee said in a post on its website.

“The Strike has ended,” the union said, addressing members. “We have a tentative agreement we will bring forward to you.”

Air Canada said separately that it planned to gradually resume service, with the first flights starting Tuesday evening.

“Customers may book and fly with confidence,” the airline said.

About 10,000 flight attendants walked off the job on Saturday in a dispute over pay and conditions such as compensation

policies. The stoppage disrupted travel at airports across Canada, as the airline scrapped hundreds of flights.

The standoff escalated after the union the Air Canada Component of CUPE—defied an order by Canada’s labor board to return to work. Talks resumed Monday evening, however, as both sides sought to break the deadlock.

Air Canada said it would likely take 7 to 10 days to fully restore service, as aircraft and crew are out of position. Some flights will be canceled during this period, it said.

“We ask for our customers’ patience and understanding over the coming days,”’ the company said.

Neither side offered details of the tentative agreement, which the union said was reached at 4:23 a.m. local time.

“We are required to advise our membership that we must fully cooperate with resumption of operations,” the union said. Bloomberg

Modi and China’s top diplomat meet to ease tensions amid border dispute and trade talks

By Sheikh Saaliq & Rajesh Roy

The Associated Press

EW DELHI—Indian Prime Minister

NNarendra Modi will meet with China’s top diplomat on Tuesday in a sign of easing tensions between the nuclear-armed neighbors after a yearslong standoff between the Asian powers.

Chinese Foreign Minister Wang Yi, who arrived in India on Monday, is scheduled to hold talks with Modi and other leaders about the disputed border in the Himalayan mountains. Reducing the number of troops on the border and possibly resuming trade in the contested region are expected to be on the agenda. The rebuilding of ties coincides with friction between New Delhi and Washington after US President Donald Trump imposed steep tariffs on India, a longtime ally seen as a counterbalance against China’s influence in Asia. India is part of the Quad security alliance with the US, along with Australia and Japan.

‘Compromise at the highest political level’ INDIA and China’s decades-old border dispute worsened in 2020 after a deadly clash between their troops in the Ladakh region. The chill in relations affected trade, diplomacy and air travel as both sides deployed tens of thousands of security forces in border areas.

Some progress has been made since then.

Last year, India and China agreed to a pact on border patrols and withdrew additional forces along some border areas. Both countries continue to fortify their border by building roads and rail networks.

In recent months, the countries have increased official visits and discussed easing some trade restrictions, movement of citizens and visas for businesspeople. In June, Beijing allowed pilgrims from India to visit holy sites in Tibet. Both sides are working to restore direct flights.

Last week, the spokesman for India’s foreign ministry, Randhir Jaiswal, said India and China were in discussions to restart trade through three points along their 3,488-kilometer (2,167-mile) border.

Manoj Joshi, a fellow at the Observer Research Foundation, a New Delhi-based think tank, said relations are still at an uneasy level of normalization.

“Settling the boundary issue between the two countries requires political compromise at the highest political level,” said Joshi, who also served as a member of the advisory board for India’s National Security Council. He asserted that the countries are “still talking past each other when it comes to the border dispute and issues surrounding it.”

Ahead of his meeting with Modi, Wang met India’s National Security Adviser Ajit Doval and discussed the way forward to bolster the relationship.

“The setbacks we experienced in the past few years were not in the interest of the people of our two countries. We are heartened to see the stability that is now restored in the borders,” Wang said.

On Monday, C hina’s Foreign Ministry spokesperson Mao Ning said Beijing is willing to take Wang’s India visit as an opportunity to work with the Indian side to “properly handle differences and promote the sustained, sound and stable development of China-India relations.”

Mao said Wang’s meeting with Modi’s national security adviser will “continue indepth communication to jointly safeguard peace and tranquility in the border areas.”

Modi plans to visit China soon THE thaw between Beijing and New Delhi began last October when Modi and Chinese President Xi Jinping met at a summit of emerging economies in Russia. It was the first time the leaders had spoken in person since 2019.

Modi is set to meet Xi when he travels to China late this month—his first visit in seven years—to attend the summit of the Shanghai Cooperation Organization, a regional grouping formed by China, Russia and others to counter US influence in Asia.

Earlier this year, Xi called for India and China’s relations to take the form of a “dragonelephant tango”—a dance between the emblematic animals of the countries.

Last month, India’s external affairs

minister visited Beijing in his first trip to China since 2020.

The US and Pakistan play roles in the thaw

THE renewed engagement comes as New Delhi’s ties with Trump are fraying. Washington has imposed a 50% tariff on

Indian goods, which includes a penalty of 25% for purchasing Russian crude oil. The tariffs take effect Aug. 27.

India has shown no sign of backing down, instead signing more agreements with Russia to deepen economic cooperation.

Trump’s renewed engagement with India’s arch rival, Pakistan, has also

encouraged New Delhi’s overtures to China, said Lt. Gen. D.S. Hooda, who led the Indian military’s Northern Command from 2014 to 2016.

The Associated Press writer Aijaz Hussain in Srinagar, India, and video producer Liu Zheng in Beijing contributed to this report.

A8 Wednesday, August 20, 2025

Japan’s SoftBank to take $2 billion stake in computer chip maker Intel

By Elaine Kurtenbach AP Business Writer

BANGKOK Japanese technology giant SoftBank Group plans to take a $2 billion stake in computer chip maker Intel as it deepens its involvement in US semiconductor manufacturing and other advanced technology in the United States, the companies said Monday.

Shares in SoftBank fell 4% Tuesday in Tokyo following the announcement, which coincided with unconfirmed reports that President Donald Trump is considering having the US government buy a

stake in the chip maker.

SoftBank invests in an array of companies that it sees as holding long-term potential. It has been stepping up investments in

the United States since Trump returned to the White House. In February, its chairman Masayoshi Son joined Trump, Sam Altman of OpenAI and Larry Ellison of Oracle

in announcing a major investment of up to $500 billion in a project to develop artificial intelligence called Stargate.

SoftBank plans to buy $2 billion of Intel’s common stock, paying $23 per share. That would be about a 2% stake. Intel’s shares closed at $23.66 on Monday.

“Semiconductors are the foundation of every industry, Son said in a statement. “This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role.”

SoftBank posted its first profit in four years in the April-June quarter as it raked in gains from its investment portfolios. It is a major shareholder in Arm Holdings, a British semiconductor and

software design company. Intel helped launch Silicon Valley but has fallen behind rivals like Nvidia Corp. and Advanced Micro Devices Inc. and is shedding thousands of workers and slashing costs under its new CEO, Lip-Bu Tan. In the last quarter, the company reported a loss of $2.9 billion. Intel plans to end the year with 75,000 “core” workers excluding subsidiaries, through layoffs and attrition, down from 99,500 core employees at the end of 2024. The company previously announced a 15% workforce reduction. Trump recently said Tan, who was made CEO in March, should resign. But after meeting with him last week Trump relented, saying Tan had an “amazing story.” Intel’s rose 5.4% early Tuesday in pre-market trading.

Europe faces worst wildfire season in 20 years amidst heat waves, dry conditions

By

FOUR major heat waves, dry conditions and strong winds have turned Europe into a tinderbox this summer, fueling the most destructive wildfire season in nearly two decades.

Blazes have scorched about 8,948 square kilometers (3,455 square miles) across the European Union in 2025 more land than in any year since 2006, according to new satellite estimates from the Copernicus space program.

Fire activity has surged in recent weeks as another blast of unseasonable heat sapped the last moisture from Europe’s fields and forests, leaving them primed to ignite. Deadly, wind-whipped blazes have flared from Portugal and Spain to Greece and Albania. Researchers say climate change is making Europe’s summers hotter, drier and more dangerous and

the continent is warming faster than any other in the world.

Though the latest wave is easing, fire crews in Spain are still battling some 40 active blazes. More than 31,000 people have been forced to evacuate in recent days, with flames consuming 3,482 square kilometers (1,344 square miles) of land this year the most since 2006, satellite estimates show. During investigations into the causes of various fires, Spain’s civil guard and national police have arrested 31 people, according to data from the Ministry of the Interior.

Prime Minister Pedro Sanchez is set to visit the provinces of Caceres and Zamora, where officials say the emergency has triggered the largest wave of international firefighting assistance in Spain’s history. Planes and personnel are arriving from as far away as Finland and Slovakia.

Cooler weather is forecast in Spain, breaking a 16-day heat

wave that’s likely the country’s third-longest in more than three decades, according to government forecaster AEMET. But despite the colder air, half the country still faces extremely dangerous fire conditions.

In neighboring Portugal, temperatures are also set to drop, though most of the north, center and the Algarve region remain on the highest alert. Four major blazes are still active. One in the Trancoso area has raged for more than a week and is on track to be the largest wildfire ever recorded in the country. Another is still spreading; almost 1,500 firefighters are currently deployed to stop it.

Prime Minister Luis Montenegro, who has urged calm and national unity, pledged support for devastated regions but has yet to visit the hard-hit north. “We are at war and we must win this war,” he said Monday at a press briefing near Lisbon. So far, fires have

scorched 2,162 square kilometers (835 square miles) Portugal’s worst year since 2006. The blazes are a hot-button issue. Montenegro canceled his summer holidays only after attending a party rally in the Algarve, a move that drew rebuke from across the political spectrum. Critics have also seized on his delay in activating the EU Civil Protection Mechanism, while far-right leader Andre Ventura has gone further, calling for the resignation of Interior Minister Maria Lucia Amaral. Wildfires are a political sensitivity in Portugal, especially post-2017, when more than 100 people died in the country’s deadliest blazes. Many were trapped in cars after receiving conflicting evacuation advice. In the wake of the disaster, the then-interior minister resigned. Some of this year’s worst fires are again burning in those same scarred areas. Bloomberg News

Joe Wertz, Sofia Horta E Costa & Sabrina Nelson Garcinuño

Redistricting battle expands: Texas Democrats get police escorts; California moves to retaliate

By Bill Barrow, Tran Nguyen, Fernanda Figueroa & John Hanna

AThe Associated Press

USTIN, Texas—Texas Democrats who ended a walkout Monday found themselves shadowed by law enforcement officers to keep them from repeating the protest that stalled Republican efforts to redraw congressional districts and fulfill President Donald Trump’s desire to reshape US House maps.

Republicans in the Texas House forced returning Democrats to sign what the Democrats called “permission slips,” agreeing to around-theclock surveillance by state Department of Public Safety officers to leave the floor. However, Democratic Rep. Nicole Collier, of Fort Worth, refused and remained on the House floor Monday night.

The Democrats’ return to Texas puts the Republican-run Legislature in position to satisfy Trump’s demands, possibly later this week, as California Democrats advance new congressional boundaries in retaliation.

Lawmakers had officers posted outside their Capitol offices, and suburban Dallas Rep. Mihaela Plesa said one tailed her on her Monday evening drive back to her apartment in Austin after spending much of the day on a couch in her office. She said he went with her for a staff lunch and even down the hallway with her for restroom breaks.

“We were kind of laughing about it, to be honest, but this is really serious stuff,” Plesa said in a telephone interview. “This is a waste of taxpayer dollars and really performative theater.”

Collier, who represents a minority-majority district, said she would not “sign away my dignity” and allow Republicans to “control my movements and monitor me.”

“I know these maps will harm my constituents,” she said in a statement. “I won’t just go along quietly with their intimidation or

their discrimination.”

2 states at the center of an expanding fight THE tit-for-tat puts the nation’s two most populous states at the center of an expanding fight over control of Congress ahead of the 2026 midterm elections. The battle has rallied Democrats nationally following infighting and frustrations among the party’s voters since Republicans took total control of the federal government in January.

Dozens of Texas Democratic lawmakers left for Illinois and elsewhere on Aug. 3, denying their Republican colleagues the attendance necessary to vote on redrawn maps intended to send five more Texas Republicans to Washington. Republicans now hold 25 of Texas’ 38 US House seats.

They declared victory Friday, pointing to California’s proposal intended to increase Democrats’ US House advantage by five seats. Many absent Democrats left Chicago early Monday and landed hours later at a private airfield in Austin, where several boarded a charter bus to the Capitol. Cheering supporters greeted them inside.

Republican House Speaker Dustin Burrows did not mention redistricting on the floor but promised swift action on the Legislature’s agenda.

“We aren’t playing around,” Republican state Rep. Matt Shaheen, whose district includes part of the Dallas area, said in a post on the X social media platform.

Democrats promise to keep fighting EVEN as they declared victory, Democrats acknowledged Republicans can now approve redrawn districts. Texas House Minority Leader Gene Wu said Democrats would challenge the new designs in court.

Lawmakers did not take up any bills Monday and were not scheduled to return until Wednesday.

Trump has pressured other Republican-run states to consider redistricting, as well, while

Democratic governors in multiple statehouses have indicated they would follow California’s lead in response. Democratic California Gov. Gavin Newsom has said his state will hold a Nov. 4 special referendum on the redrawn districts.

The president wants to shore up Republicans’ narrow House majority and avoid a repeat of the midterms during his first presidency. After gaining House control in 2018, Democrats used their majority to stymie his agenda and twice impeach him.

Nationally, the partisan makeup of existing district lines puts Democrats within three seats of a majority. Of the 435 total House seats, only several dozen districts are competitive. So even slight changes in a few states could affect which party wins control.

Redistricting typically occurs once at the beginning of each decade after the census. Many states, including Texas, give legislators the power to draw maps. California is among those that empower independent commissions, giving Newsom an additional hurdle.

California Democrats start redrawing process DEMOCRATIC legislators introduced new California maps Monday. It was the first official move toward the fall referendum asking voters to override the independent commission’s work after the 2020 census. The proposed boundaries would replace current ones through 2030. Democrats said they will return the mapmaking power to the commission after that.

State Republicans promised lawsuits.

Democrats hold 43 out of California’s 52 US House seats. The proposal would try to expand that advantage by targeting battleground districts in Northern California, San Diego and Orange counties, and the Central Valley. Some Democratic incumbents also get more left-leaning voters in their districts.

“We don’t want this fight, but

with our democracy on the line, we cannot run away from this fight,” said Democrat Marc Berman, a California Assembly member who previously chaired the elections committee.

Republicans expressed opposition in terms that echoed Democrats in Austin, accusing the majority of abusing power. Sacramento Republicans said they will introduce legislation advocating independent redistricting commissions in all states.

Texas’ governor jumped to the president’s aid

TEXAS Republican Gov. Greg Abbott launched the expanding battle when he heeded Trump’s wishes and added redistricting to an initial special session agenda that included multiple issues, including a package responding to devastating floods that killed more than 130 people last month.

Abbott has blamed Democrats’ absence for delaying action on those measures. Democrats have answered that Abbott is responsible because he effectively linked the hyper-partisan matter to nonpartisan flood relief.

Abbott, Burrows and other Republicans tried various threats and legal maneuvers to pressure Democrats’ return, including the governor arguing that Texas judges should remove absent lawmakers from office.

As long as they were out of state, lawmakers were beyond the reach of the civil arrest warrants that Burrows issued. The Democrats who returned Monday did so without being detained by law enforcement.

The lawmakers who left face fines of up to $500 for each legislative day they missed. Burrows has insisted Democratic lawmakers also will pay pick up the tab for law enforcement who attempted to corral them during the walkout.

Barrow reported from Atlanta. Nguyen reported from Sacramento, California. Hanna reported from Topeka, Kansas.

South Sudanese exiles confront uncertain future following release from Sudan prison

By Joseph Falzetta & Adlai Coleman The Associated Press

RENK, South Sudan—As a young man in the mid-1980s, Daud Mahmoud Abdullah left his home in Aweil in South Sudan and headed north. It was a time of war. South Sudan was still part of Sudan and was fighting for independence, in a conflict that would claim about 2 million lives.

He never went back. But now at 60 and after six months in a Sudanese prison, he is closer to home than he’s been in 40 years.

This July, he finally crossed the border back into his native South Sudan, taking a deep breath and reminding himself, “I am alive.”

After everything that has happened to him, it feels like a miracle.

Sudan—once his place of refuge—has been embroiled in a brutal civil war since April 2023 that has killed 40,000 people and displaced nearly 13 million more, according to UN agencies.

Abdullah lived in Wad Madani, the capital of Al Jazirah state, about 135 kilometers (85 miles) south of Khartoum.

There had been incursions into the area by the Rapid Support Forces, a paramilitary force once known as the Janjaweed who were notorious for mass killings, rapes and other atrocities in Darfur two decades ago. More recently, the RSF have again been accused of by the International Criminal Court of committing war crimes, including the attacks on famine-hit Zamzam and other camps in North Darfur.

In January, the Sudanese armed forces began recapturing parts of Al Jazirah state from the RSF and making sweeping arrests. Abdullah got caught up in the incursions on his way home from the market: He was picked up by SAF soldiers and accused of cooperating with the RSF.

Abdullah says that he was “beaten, tortured and burned with cigarettes” to

make him confess. Although he never made a confession, he was thrown in prison.

Held without charge and tortured in prison IN a report released in March, the top UN human rights body detailed how both the SAF and the RSF have detained tens of thousands of people “without charge, with limited or no contact with their families, in squalid and overcrowded facilities” in “a widespread pattern of arbitrary detention, torture, and ill-treatment.”

Abdullah can attest to this. He remembers inmates dying from starvation, beatings or illnesses like cholera daily. One morning, he discovered 28 of his fellow inmates had died in the night. For the next three days the bodies lay inside his cell, and the soldiers refused to remove them. “Even when you shouted to them, they would tell you, ‘If you want to die also, you can die with them,” Abdullah said.

The Associated Press spoke to eight men in total, some of whom were detained in other prisons in Al Jazirah state and Khartoum. All recounted nightmarish conditions during their incarceration. They described being crammed into cells alongside hundreds of other prisoners. Cells were so crowded that they were forced to sleep with their knees tucked under their chin. Beatings occurred regularly; one said he lost the use of his right eye as a result.

Michael Deng Dut, 29, said he had been “tortured with electricity more than 18 times.” Simon Tong, 39, said that he was tortured with a knife during an interrogation, and rolled up his sleeve to expose the scars on his arm. Many of the men said they were given only a handful of food and a small cup of water once a day. “This is the reason many of us passed away, because of the lack of food and water,” Tong said.

Marcos creates new office to lead Pasig River rehabilitation efforts

By Samuel P. Medenilla @sam_medenilla

AMID the ongoing reorganization in Malacañang, President Ferdinand Marcos announced the creation of the Office of the Presidential Adviser on Pasig River Rehabilitation (OPAPRR) to fast track government efforts in reviving iconic waterway in Metro Manila.

Under his Executive Order (EO) No. 92, series of 2025, the Chief Executive said the OPAPRR will be led by the Presidential Adviser for Pasig River Rehabilitation (PAPRR), who will have the rank and entitlements of a Secretary.

Council for the Pasig River Urban Development (IAC-PRUD) and vice chaired by the head of the Metropolitan Manila Development Authority.

of the Pasig River.

Makati grants tax relief to residents and businesses hit by severe flooding

ESIDENTS and businesses

Rin Makati City affected by severe flooding that struck the city will be granted a tax relief after Makati City Mayor Maria Lourdes Nancy Binay signed an ordinance, waiving penalties, surcharges, and interest on business taxes that fell due on July 21, 2025.

The relief measures are designed to help the community recover from the devastating floods that displaced families and disrupted local commerce throughout the city.

The rehabilitation of the Pasig River is a priority initiative of the Marcos administration, which is being spearheaded by First Lady Louise “Liza” A. Marcos.

The PAPRR will serve as the new chairperson of the Inter-Agency

Last June, Marcos announced that he will appoint former Department of Human Settlements and Urban Development (DHSUD) Secretary Jose “Jerry” Rizalino L. Acuazar as PAPRR.

The members of the council will include the secretaries of public works, environment, the interior and local government, labor, tourism, transportation, finance, budget; chairpersons of the National Historical Commission of the Philippines, National Commission for Culture and Arts; the general managers of the Philippine Ports Authority, Laguna Lake Development Authority, National Housing Authority, National Development Company; commandant of the Philippine Coast Guard, and the chief executive officer of the Tourism Infrastructure and Enterprise Zone Authority.

The OPAPRR will have similar functions to the Pasig River Rehabilitation Commission, which was abolished by former President Rodrigo R. Duterte in 2019, particularly in coming out with policies and plans for the rehabilitation

The new office will coordinate with concerned local government units in the rehabilitation, development, and restoration of the banks and tributaries along the Pasig River water system and its nearby water systems.

It will submit a bi-annual report to the President on the status of the implementation of EO 92.   EO 92 justified the creation of the new government office to “ensure the efficient, effective, and timely implementation of the rehabilitation and development of the Pasig River.

The creation of the OPAPRR comes after Marcos abolished Office of the Presidential Adviser on Military and Police Affairs and placed the Presidential Legislative Liaison Office under Office of the Executive Secretary last month as part of his administration’s efforts to streamline its operations.

EO 92 took effect immediately after it was issued by Marcos 13 August 2025.

Students to get 50% discount on MRT and LRT fares with new Beep cards

By Claudeth Mocon-Ciriaco @claudethmc3

STARTING September, students can apply for special white Beep cards in train stations, which will automatically apply 50 percent fare discount for students in MRT and LRT lines and will run until 2028 to ease the cost of education-related travel, following the directive of President Ferdinand Marcos.

The Department of Education (DepEd) will assist the Department of Transportation (DOTr) in the rollout of the saying program.

“This is a concrete step in making education less of a burden for Filipino families.

Kung mas madali at mas mura

By Rex Anthony Naval

Hang biyahe papunta sa paaralan, mas marami ang makakapagtapos, mas marami ang magtatagumpay ,” said Education Secretary Juan Edgardo “Sonny” Angara of the initiative, which began in June this year. It covers learners in basic and higher education—from kindergarten to graduate school—including Alternative Learning System (ALS) and Special Education (SPED) students. The discount applies every time a student rides the train, with no daily or monthly cap. Angara said the measure, which will continue until 2028, is a direct boost to access and equity in education.

Kapag nakakatipid ng pamasahe ang isang pamilya, mas maraming oportunidad para magamit ito

para sa mga aklat at educational tool na kailangan nila. Malaking ginhawa ito para sa ating mga estudyante ,” Angara said, adding that DepEd will do its part to ensure schools and parents know about this benefit.

“We want every learner, from Metro Manila to the farthest regions, to feel the government’s support,” he added.

For its part, the DOTr said all train lines in Metro Manila already honor the 50 percent fare discount. Beyond the capital, Libreng Sakay programs are being piloted in Cebu and Davao, with modern jeepneys and buses deployed in select routes.

More routes in both cities are set to launch soon.

For his part, Transportation

Secretary Vince Dizon said to avail students only need to present a valid school ID or enrollment form.

“Hindi lang yung discount ang importante. Ang sabi ng Pangulo, kailangan ‘yung experience nila hindi sila pinapahirapan. Kung ikaw ay estudyante, pupunta ka sa kahit anong station, papakita mo ang iyong ID at right then and there ipiprint ang inyong student beep card,” he said.

DOTr said student ridership is being tracked through discounted ticket data.

A commuter hotline (0920964-3687) and official social media channels are available for complaints if students are denied access despite eligibility.

DepEd and DOTr will work together to harmonize guidelines and amplify public awareness.

City Ordinance No. 2025-A-001 into law, will provide immediate tax relief to residents and businesses affected by severe flooding that struck the city from July 21 to 25, 2025.

“We recognize the tremendous hardships our constituents have endured. This comprehensive measure demonstrates our resolve to deliver swift, tangible relief that will help our community rebuild and recover,” the mayor declared.

Enacted by the Sangguniang Panlungsod on August 11, 2025, the emergency legislation, likewise, will extend the 5 percent discount on real property taxes for the third quarter of 2025.

Qualified taxpayers may avail themselves of these benefits by settling their obligations from August 26-29 and September 1, 2025. The ordinance ensures fairness to those who have already fulfilled their tax responsibilities before its effectivity.

Taxpayers who previously paid penalties, surcharges, or interest on business taxes due on July 21 may apply these amounts as credits against future local tax liabilities, subject to City Treasurer verification.

The same provision applies to those who paid third-quarter real property taxes but missed the 5 percent discount. All relief benefits will automatically apply to qualified taxpayers with no formal application required. Claudeth Mocon-Ciriaco

DMW ramps up anti-illegal recruitment drive as Pinoy victims in Mekong region exceed 1,200

By Samuel P. Medenilla @sam_medenilla

AS the number of Filipinos who became victims of illegal recruitment and trafficking in the Mekong region breached the 1,200 mark, the Department of Migrant Workers (DMW) has intensified its information drive against fake job offers here and abroad.

The agency has reported that many of the illegal recruitment and trafficking victims from Myanmar, Cambodia, and Laos were third country hires, which means they were recruited abroad without going through the DMW.

Others left the Philippines as tourists bound for Thailand before they went to the three countries.

he said partly in Filipino in a statement.

The said initiatives include partnering local government units, concerned stakeholders, and the Migrant Workers Office in Bangkok, Thailand for their anti-illegal recruitment drive.

In a previous press briefing, DMW Undersecretary Bernard P. Olalia said that most of their reported illegal recruitment and trafficking victims were in Myanmar, Cambodia, and Laos. The victims went into the said countries after being offered attractive economic packages for customer relations roles online. However, they ended up as staff in scam hubs in the Mekong region.

Based on its latest data, DMW said it was able to provide aid to 1,259 victims of illegal recruitment and human trafficking victims from the three countries.

IGHLIGHTING the growing military ties between the Philippines and Australia naval forces of the two nations on Tuesday conducted a series of coordinated maritime activities on August 19 off southwest Lubang Island, Mindoro as part of Exercise “ALON” 2025.

The Armed Forces of the Philippines (AFP), in a statement, said participating naval assets included the Philippine Navy’s BRP Jose Rizal (FF-150) and the Australian Defense Forces (ADF)’s HMAS Brisbane (DD-G41).

The exercise featured a range of operations such as personnel transfer drills, a communications exercise, officer of the watch manning exercise, combined anti-submarine exercise, night steaming in company, and flight quarters drills.

“These activities were designed

to enhance interoperability, improve operational readiness, and strengthen maritime security cooperation between the AFP and ADF,” the AFP said. It also said that the joint naval maneuvers highlight the enduring

See “Aussie,” A11

Aware of these schemes, DMW Assistant Secretary Jerome A. Alcantara said they enhanced their anti-illegal recruitment campaign abroad.

“We are also active in providing information-inside and outside the county to warn our citizens of the perils of illegal recruitment and trafficking. Our investment now is to warn the people,”

These include the 120, who were recently repatriated by the Inter-Agency Council Against Trafficking (IACAT).

Upon their arrival at the Ninoy Aquino International Airport Terminal 3, they received financial, psychosocial, accommodation, legal, and medical assistance.

PHL, Aussie naval forces conduct drills off Mindoro as part of ‘ALON’ exercise

VP Sara urges Supreme Court to uphold ruling that favored her in impeachment case

VBy Joel R. San Juan @jrsanjuan1573

ICE President Sara Duterte

on Tuesday asked the Supreme Court (SC) to junk the motion for reconsideration (MR) filed by the House of Representatives seeking the reversal of its July 25 ruling, which declared as unconstitutional the impeachment complaint it filed against her for violating the one-year-bar rule under the Constitution and her right to due process.

In her 27-page comment filed through her lawyers led by Philip Sigfrid Fortun, Duterte said the Court’s decision “requires no factual correction” as “it rests on an unshaken foundation of truth.”

Duterte’s team also questioned the validity of the motion for reconsideration filed by the House, noting that it is not a continuing body and that it was filed by the Office of the Solicitor General without approval by the members of the 20th Congress.

“Absent this approval by the plenary, the motion is unauthorized and legally infirm. It is a nullity that usurps the institutional

authority of the 20th Congress itself,” Duterte argued. She added that based on their perusal of the Orders of Business published in the website of the House from July 25, 2025 when the decision was issued by the Court until August 4, 2025 when the motion for reconsideration was filed, shows that the matter of seeking the reconsideration of the Court’s decision was not submitted for the deliberation and voting of the plenary of the 20th Congress.

Furthermore, Duterte’s camp said the plea of the House for the prospective application of the new doctrines and requirements laid down by the Court for impeachment process is “improper.”

The Vice President argued that only non-parties where the reversal of doctrines were made are covered by its prospective application.

She noted that prospective application of new doctrines “does not insulate the guilty parties from the consequences of its actions.”

Furthermore, Duterte said the Court’s decision provided “legal guideposts” to ensure compliance

Bangsamoro Science HS now opens with 26 students

DAVAO CITY—The Bangsamoro science high school here officially opened this month in Cotabato City with 26 students in its inaugural school year, the Ministry of Science and Technology (MOST) said.

Most Deputy Minister Jehan Usop said the Bangsamoro government pinned high hopes on the newly opened Bangsamoro Science High School (BSHS) to produce the next-generation science-and-technologyskilled Bangsamoro for the region’s sustained development.

“The BSHS will serve as a beacon of hope, nurturing future scientists, engineers, researchers, and leaders who will carry the torch of development for our communities,” Usop told the ceremonial opening of the school in Sitio Datu Balabaran, Barangay Tamontaka Mother on August 8.

She said the school is designed to cultivate future scientists, technologists, and professionals. “This institution is not just a building; it is a symbol of our shared commitment to excellence in education and empowering our youth through knowledge, skills, and moral values,” she added.

The BSHS admitted 26 Bangsamoro students enrolled in the school year 2025-2026.

The MOST said the requirements for BSHS competitive examination eligibility “are that the applicant must be a 6th grader from a duly recognized school by the Department of Education [DepED] or the Ministry of Basic, Higher, and Technical Education [MBHTE]; must have a final grade of 85 percent or better in Science, Mathematics, and English, as evidenced in the student’s 5th-grade report card; and must be a Filipino citizen with no pending or approved application as an immigrant to any foreign country.”

The student must not be more than 14 years old by July 31, 2026; must have at least a satisfactory rating (or its equivalent) in his/her Character Rating in the S.Y. 2024-25 report card; and preferably in good health and fit to undergo a rigorous academic program.

The creation of the BSHS system was vested under Bangsamoro Autonomy Act No. 40, which institutionalized the establishment of the school and allocated necessary resources to build a premier institution for science education in the region, the MOST said.

Across the whole Bangsamoro educational system the MBHTE has also officially launched in Cotabato City last week the Peace and Justice Education modules, “which are key to educating Bangsamoro learners with peace and justice.”

The modules are contained in the iFlex, the online portal for the trainers’ virtual access to the modules, which the Southeast Asian Ministers of Education Organization Regional Center for Educational Innovation and Technology (Seameo Innotech). This

with the Constitution and to observe due process rights, contrary to the claim of the House that it violates the principle of separation of powers among the three branches of government.

It can be recalled that the SC issued a resolution on August 5 directing Duterte to comment on the House’s appeal within a nonextendible period of 10 days.

In its motion filed through the OSG, the House pleaded for the Court’s reversal of the immediately executory nature of the SC ruling pending resolution on the merits of its appeal.

Duterte also branded the other arguments raised by the House in its motion as “mere diversions.”

These include the claim of the House that the due process requirements laid down in the decision are not sanctioned by the Constitution and “unduly interferes” with its sole authority to conduct impeachment proceedings.”

Duterte’s legal team also countered the House arguments that the Court misconstrued the chronology of events, in that the archiving of the first three im -

peachment complaints preceded the filing of the fourth impeachment complaint; its allegation that the SC wrongly stated that the fourth impeachment complaint was transmitted to the House without voting in plenary; and its claim that the Court erred in ruling that the prior complaints were effectively dismissed due to the adjournment of Congress.

While the transmittal of the fourth impeachment complaint happened before the archival of the three prior complaints during the House’s plenary session on February 5, 2025, Duterte’s camp said it is “misleading” to insinuate that the SC based its ruling on a misapprehension of this supposed sequence.

Duterte pointed out that the Court’s findings that the House violated the one-year-bar rule under the Constitution was based on “substantive legal ground” and not on this “immaterial details.”

“Contrary to the respondent HOR’s belief that the Court misunderstood the sequence of events that led to its disposition, the decision itself shows this Honorable Court’s unequivocal grasp of the

timeline and the HOR’s maneuvers to skit constitutional limits, when it ruled that the HOR circumvented the One-Year-Bar Rule,” Duterte pointed out.

Likewise, the Vice President said the Court did not err when it found that the fourth impeachment complaint was transmitted to the Senate without a plenary vote which is required under the House’s Rules.

Duterte said House Speaker Martin Romualdez merely inquired if there were objections to the motion to transmit the impeachment to the Senate.

“The HORs contention thus rests on a mischaracterization of the Decision. While it is quick to fault the Court for a footnote referencing a media account, it overlooks the broader and more substantive legal foundation upon which the Court’s findings are anchored.

Even if the Court erred in holding that no plenary vote was conducted based on a media account, Duterte’s legal team argued that this does not justify reconsideration of the decision.

Duterte said the Court merely

noted the news report which was “neither the sole nor decisive basis for its ruling.”

The Vice President said the Court’s ruling was based on constitutional considerations pertaining to transmittal process and due process requirements.

Duterte’s legal team branded as “staggeringly ridiculous” the claim of the House that its adjournment on February 5 was not sine die (without day), thus, cannot result in the termination, archival, or dismissal of the first three impeachment complaints.

“This contention collapses under the weight of its own logic and the HOR’s own record. The archival of the first three prior impeachment complaints on February 5, 2025 after it had already decided to push forward with its preferred fourth impeachment complaint was a deliberate act of disposition by the HOR itself,” Duterte said.

“Whether the adjournment of that session was temporary or sine die is immaterial. The fact remains that the respondent HOR, by its own doing, formally set those complaints aside,” she added.

Central Luzon board to discuss possible wage hike in September

Tportal contains the seven co-created modules on peace and justice, which are tailored to the unique context of the Bangsamoro region.

After the pilot run this school year, the course will be rolled out in the school year 2026-2027 for Grade 7, eventually expanding progressively every year up to Grade 10 by 2029-2030.

“This intervention, funded by the European Union and in partnership with Save the Children, connects the curriculum to the region’s history, lived experiences, and values of young people,” said Education Minister Mohagher Iqbal.

“The launch of this Peace and Justice Education pilot is more than just an educational program; it is a transformative journey. The initiative in select schools across the Bangsamoro region will help mold our learners into advocates of peace and justice, proud vanguards of their history and identity,” Iqbal said.

Alberto Muyot, the chief executive officer of Save the Children Philippines, represented by Edwin Horca, the director for Program, Planning, and Technical Design, said religious differences “are never a hindrance in attaining peace and justice, especially in implementing the whole project.”

“We come from different walks of life. If you look into the Bangsamoro pool, we all come from different places. We are all called to care for one another and to live in the right relationship, especially with our communities and the world around us,” Muyot said.

In Parang, Maguindanao del Norte, the MBHTE held a four-day skills competition on August 5-8 at Illana Bay Integrated Computer College, Inc. from 12 technical-vocational institutions in the two Maguindanao provinces to showcase their abilities in cooking, electrical installation, carpentry, and information network cabling.

MBHTE-TESD Provincial Director Salekh Mangelen said he noted a common challenge among the youth who he said have low appreciation for tech-voc careers and who often prefer white-collar jobs. He expressed hope that competitions like this will shift perceptions and inspire more young people to pursue these careers.

“Not all students have parents who can afford a four-year program. We are giving our youth this opportunity because there are many opportunities waiting for them in the tech-voc field,” he said.

Champions in all categories received P15,000 in cash prizes, while the first, second, and third runners-up took home P10,000, P5,000, and P3,000, respectively.

The competition also served as a qualifying round for the upcoming regional skills competition, tentatively set for October, where winners will represent Maguindanao and showcase their skills on a larger stage. Manuel T. Cayon

HE Regional Tripartite Wages and Productivity Board (RTWPB) of Central Luzon will open public hearings on the region’s minimum wage starting next month.

In a social media post, RTWPB Region III said the first round of consultations will be held in Bataan and Zambales on September 3, followed by Nueva Ecija and Tarlac on September 9, and Aurora on September 11.

Workers and employers in Bulacan and Pampanga will have their turn on September 16.

The board encouraged stakeholders who wish to attend the hearings to submit their position papers between September 5 and 15.

These may be filed at the RTWPB-III office in Pampanga, or sent through the board’s official email addresses.

“Parties who intend to partici -

pate in the aforementioned hearing may coordinate with RTWPBIII and may also submit position papers at 2nd Floor, Kingspire Business Centre, KM 71 McArthur Highway, Brgy. San Isidro, City of San Fernando, Pampanga or thru email at rtwpb3@yahoo. com.ph., rtwpb3@gmail.com, and/or rb3@produktiboatsahod. onmicrosoft.com, ” it said.

The hearings come less than a year since the last wage order in the region.

The last minimum wage hike in Central Luzon took effect in October 2024 under Wage Order No. RBIII-25, which granted workers a P50 to P66 increase.  The adjustment differed across provinces and sectors, with the first tranche pushing daily rates to between P410 and P525.  A second tranche followed on April 16, further raising wages to P435 to P550. Justine Xyrah Garcia

CSC: No law, no ban on govt workers’ online gambling

THE Civil Service Commission (CSC) said on Monday it has no legal basis to impose a ban on the use of online gambling among government workers, stressing that only Congress can declare such activities unlawful.

Earlier this month, Senator Joel Villanueva urged the CSC to issue a “clear-cut” prohibition on the use of online gambling among government employees and officials.

However, CSC Chairperson Marilyn Barua-Yap clarified that while government agencies may issue internal guidelines to promote discipline, a blanket prohibition on online gambling

requires legislation.

“We do not have the authority to impose a ban because this should be done through legislation. It must first be declared as illegal gambling before we can issue a ban,” Barua-Yap said in a press briefing.

She emphasized that every government agency has the right to set rules to ensure ethical conduct among their personnel, similar to measures earlier issued by the Department of the Interior and Local Government (DILG).

“Each department, each agency may enjoin its members, its officers, as a matter of internal conduct and discipline, not to

engage in these types of activities,” she said.

Barua-Yap also noted that restrictions on gambling for public officials date back to an executive order issued in the 1990s, which covered traditional gambling such as entering casinos and lottery outlets, particularly during office hours.

“The ban or prohibition by executive issuance, not law, [applies] during office hours and to traditional gambling. That was because it was public, it was seen,” she explained.

The rise of online gambling, however, complicates regulation.

CLARK International Airport operator

Luzon International Premier Airport Development Corp. (Lipad) has adjusted its passenger traffic target for 2025 to about 3 million, down from an earlier projection of 3.2 million.

Lipad President Noel Manankil said the company had to trim its forecast because of the delayed transfer of some turboprop operations from Manila, as well as the closure of Jetstar Asia, removing some capacity for Clark-Singapore. We recalibrated our estimates,” he said in a roundtable interview on Tuesday. “Based on the numbers that we have it [the forecast] is now 3 million passengers [by yearend], which is still in terms of percentage…at least 20

Continued from A10

defense partnership and shared commitment of the Philippines and Australia to promoting peace and stability in the region. Exercise ALON (short for Am -

percent higher.” Originally, all turboprop operations were set for complete transfer to Clark from Manila by October. However, Manankil said the company was informed that six routes will be delayed until March 2026.

Furthermore, Jetstar Asia pulled out of Clark, after it folded down its operations last month.

Nonetheless, he is still upbeat about the prospects for Clark, as some carriers are beefing up their operations, namely: Philippine Airlines (PAL), Jeju Air, Aero K, and Starlux.

In particular, PAL doubled its Busuanga services to twice daily, while increasing its Basco flights to daily. Jeju Air is upgrading its

phibious and Land Operations) formally started in Puerto Princesa, Palawan last August 15. This marks the beginning of the most extensive and complex iteration of the bilateral defense exercise since its inception in 2023. Running from August 15 to

Licensed operations under the Philippine Amusement and Gaming Corp. (PAGCOR), including online platforms, are considered lawful.

Barua-Yap assured that once online gambling is declared illegal by law, the CSC will act accordingly.

“If online gambling will be deemed illegal, we will support and issue appropriate policies and guidelines,” she said.

“Now they ask me, how about online? It’s just clicking on the side, you don’t see it. For all you know, the person is just sending a text to a loved one,” Barua-Yap said. She added that existing rules only distinguish between legal and illegal gambling.

Clark airport adjusts 2025 passenger target to 3 million

Seoul-Clark flights from daily to twice daily by December.

Aero K will ramp up Cheongju services from four times weekly to daily in October and to twice daily by yearend. Starlux Airlines, which now flies daily from Clark, is adding Phoenix, Arizona, to its US network and adjusting schedules via Taipei to improve transit connections for Filipino travelers.

Looking ahead, Manankil said Lipad is targeting to serve 3.4 million passengers by 2026 and a return to its pre-pandemic volume of 4 million by 2027.

The company expects significant growth once the North-South Commuter Railway (NSCR) is completed in 2028, with a direct

connector to Clark Airport’s terminal already in the design stage. We are projecting 30 to 40 percent growth once the train is finished,”Manankil said, adding that construction of a connector

and repair operations in the coming years, should help sustain Clark’s recovery momentum.

As of the first

29, Exercise “ALON” 2025 brings together over 3,600 military personnel from the AFP and ADF, with additional participation from the Royal Canadian Navy and the United States Marine Corps’ Marine Rotation Force-Darwin. Training activities will take place across key locations in Palawan and Luzon, aiming to enhance interoperability, readiness, and regional security cooperation. Exercise ALON continues to serve as a cornerstone of Philippines–Australia defense cooperation, demonstrating a shared commitment to a free, open, and secure Indo-Pacific region.

Justine Xyrah Garcia

From rice to riches: How diversification can boost Philippine agricultural exports

THE report published by the UA&P Center for Food and Agribusiness (CFA), which indicated that rice was the most widely cultivated crop in the Philippines, was not surprising. (See, “Several hurdles deter crop diversity in PHL,” in the BusinessMirror, August 18, 2025). Rice is the staple food in the country and a huge chunk of its population consume the grain. Because of this, nearly a third of the country’s total agricultural land are planted with rice.

Other major cash crops that are also planted in large farm areas are coconut, corn, banana and sugarcane. The European Commission said cash crops are planted for the purpose of selling on the market or for export to make profit. Cash crops that accounted for 75 percent of agricultural land in the Philippines are popular food items in the country or are considered farm export winners.

Unfortunately, these are the same cash crops that local farmers have been planting for decades. UA&P-CFA noted that despite policy initiatives encouraging the cultivation of other cash crops, Filipino planters are wary of growing other crops. This aversion to cultivating other crops are due to several factors, many of which could be addressed by a state that understands its role in stimulating farm sector growth.

According to UA&P-CFA, market issues, weak infrastructure and limited technology adoption discourage planters from trying out other cash crops, such as cacao and coffee. Despite the huge demand for coffee and cacao in the domestic market, which practically guarantees that there is a market for these crops, areas planted with the crops have been expanding at a slow pace.

Cacao and coffee could become the Philippines’s next farm export winners given the huge demand of these two items in other parts of the world. These crops will expand the list of items that the country is famous for, apart from pineapples and bananas. While the Philippines continues to enjoy advantages in pineapple trade, the country is now facing stiff competition in other foreign markets that used to order most of their banana requirements from local plantations.

What is puzzling about the UA&P-CFA report is that the Philippines is a leader in terms of crop diversification in Southeast Asia. Citing data from the Food and Agriculture Organization of the United Nations, the report noted the Philippines recorded the highest diversification index among its Asean peers at 0.738. The indices of Thailand and Malaysia were significantly lower at 0.646 and 0.482, respectively.

Despite this, Thailand and Malaysia are top food exporters in the region because their respective agriculture sector prioritized the cultivation of export-oriented crops and substantial value addition through processing and exports. Their governments have also been actively promoting food products and have put in place effective support mechanisms for farmers and small businesses. As the current administration is bent on turning the Philippines into an export powerhouse, the government can start focusing on resources that are readily available to it and do what is necessary to not only compete in the Asean region, but also bolster the country’s position in international trade.

Infrastructure upgrades lift tourism

IMark Villar

THE BUILDER

SHARE the growing optimism on the local tourism industry, with new infrastructure projects and policy changes underway to support a projected surge in visitors.

Airlines are expanding their flight routes, and developers are planning new hotels to meet the expected demand. Hotel rooms are projected to grow significantly to accommodate both local and foreign visitors.

Key initiatives include the privatization and upgrade of several airports to increase capacity and allow for direct flights to key destinations. The coordinated effort between the government and private sector signals a strong, strategic push to unlock the country’s full tourism potential.

Per the Department of Tourism (DOT), the Philippines currently has over 335,000 hotel rooms, but demand is expected to reach 456,000 by 2028.

New forecasts from the World Travel & Tourism Council (WTTC) predict a record-breaking year for the sector in 2025. In the Philippines, the DOT is working to increase visitor numbers and spending. However, this requires parallel investment in transport and tourism infrastructure projects, such as railways, roads, bridges, airports, hotels, resorts as

Awell as communication facilities.

I agree with Tourism Secretary Christina Frasco’s statement that tourism infrastructure has an important role to play in unlocking the full potential of the country’s top destinations.

The government cited the need to enhance the travel experience in key destinations. This is being addressed through various projects, including the privatization and upgrade of several airports like Iloilo, Davao, Siargao and Caticlan (Boracay).

In particular, the DOT expressed support for the Siargao airport expansion to ensure that the beauty of Siargao “can be fully shared with the world.”

Set to be completed in 2026, the airport expansion project will increase its capacity to accommodate at least 750 passengers from the current 200 at any given time. The project aligns with the strategic objectives of the DOT’s National Tourism Development Plan (NTDP) 20232028, approved by the President, to improve tourism infrastructure and

By Olivia Rudgard

S Londoners struggle to adapt to rising temperatures, some of the city’s wealthier denizens are finding that money can’t always deliver the relief they seek.

With temperatures in some parts of the London Underground recently exceeding levels deemed fit for cattle, climate change is well and truly transforming the experience of living in Britain’s capital. The response has been a surge in demand for air-conditioning units in highend homes.

AC units used to be an infrequent request, says Richard Gill, director at the London-based architecture firm Paul Archer Design. But nowadays roughly 30 percent of his clients— mostly London’s higher earners, including lawyers and finance professionals—want air conditioning. Not all, however, are getting it. That “no” can be hard to hear for people who are accustomed to plush climate-controlled offices, foreign travel and cars, Gill said in an interview.

For Londoners, obstacles to getting AC units installed in their homes vary. There can be technical or aesthetic restrictions on attaching units to old buildings. And sometimes, councils simply reject claims of overheating. Gill says he had a client living in a 1920s home in Highgate, north London, who had sought permission to install air conditioning back in 2022, which is the first year the UK recorded temperatures over 40C (104F). The council blocked the request because it judged that the house wouldn’t overheat.

The client “would beg to differ,” Gill said. “Plenty of my clients go, ‘I understand Richard, it is a first world problem, but my kids can’t sleep and I work long hours.’”

Gary Woodward, managing director at north London-based company Airconco, says even though it’s

accessibility, and enhance the overall tourist experience. The government’s Tourism Road Infrastructure Program (TRIP), a joint initiative of the Department of Public Works and Highways (DPWH) and the DOT, is allocating funds to build and improve roads connecting to tourist destinations.

The private sector is also up to the task. To bring more travelers to local destinations, Cebu Pacific (CEB) announced that it is adding more flights to major domestic routes starting Oct. 26, 2025, to meet the expected surge in holiday travel. The carrier will increase its flight frequencies from its hubs in Clark and Cebu to other cities, which would offer greater flexibility and enhance access for regional travelers.

From Manila, the airline will add flights to Butuan, Cagayan De Oro, Cebu, Dumaguete, General Santos, Iloilo, Pagadian, Puerto Princesa and Zamboanga.

More hotels are rising in Metro Manila and the provinces. Esquire Financing Inc., an investor in The Farm at San Benito in Batangas, lauded the strong returns from Philippine tourism. It describes the Philippines as “the best place to invest in today.”

The ongoing public-private partnerships in major gateways such as Manila, Cebu and Bohol will certainly boost airport capacity nationwide.

The DOT is optimistic about increased arrivals, with the upcoming Air India’s direct flights to Manila, the rollout of the Digital Nomad Visa, visa-free entry for Indian nationals and a planned VAT refund program

clear that properties in large parts of London are now “extremely hot” during the summer months, existing restrictions prevent or delay installations in 30 percent to 40 percent of residential dwellings.

In Camden, a north-London borough that includes wealthy neighborhoods such as Hampstead, Primrose Hill and Belsize Park, a family was denied permission for two air conditioning units earlier this year because of noise and “visual clutter” concerns, according to public documents reviewed by Bloomberg. The application included images of a thermometer showing evening temperatures exceeding 25C in the home’s south-facing bedrooms.

The family was suffering from a “massive issue of overheating within a property which is difficult to cool to safe temperatures,” the report submitted by their planning consultant stated. “The fundamental issue of this application is not one of comfort, but rather safety for the applicants’ children.”

Claire Coutinho, the Conservative shadow energy secretary who until

for foreign tourists.

The DOT likewise promotes the Special Resident Retirees’ Visa, which has drawn over 55,000 retirees to settle in the country. In terms of policies, the “Value-Added Tax (VAT) Refund Mechanism for NonResident Tourists Act” has been enacted to allow foreign tourists to get a refund on VAT for locally purchased goods. This seeks to incentivize more spending by visitors.

The Department of Foreign Affairs and the DOT are expanding visa-free access for more nationalities to attract tourists from emerging markets. This includes granting visafree entry to Indian and Taiwanese travelers.

I believe the Philippines is poised for a tourism boom, made possible by a strong partnership between the government and the private sector.  With airlines expanding their networks and new hotels in development, the country is actively preparing for an influx of both domestic and international travelers. The government’s strategic focus on upgrading infrastructure, enhancing accessibility and implementing pro-tourism policies—such as the VAT refund program and expanded visa-free access—is creating a robust foundation for sustainable growth.  I believe that with the right policies and improved infrastructure, the Philippines can be a major tourism player soon.

For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph

2024 was the politician in charge of the UK’s energy policy, has been vocal in her criticism of existing regulations, warning that access to air conditioning was being blocked by “bureaucrats in ivory towers.”  In another case, an application for a rooftop unit submitted to Kensington and Chelsea council last year was denied, after neighbors raised concerns it would be too obtrusive, according to documents reviewed by Bloomberg. Aggregate data on AC applications in London wasn’t made available by city authorities. A spokesperson for Camden Council said that applications for air conditioning are assessed against the borough’s development plan, with policies covering sustainability, design and noise all taken into account. A spokesperson for Kensington and Chelsea Council said that there were more restrictions than in other areas because three-quarters of the borough is of special architectural or historic interest.  The examples show that

See “Rich,”

Zelenskyy and his allies turn on charm to keep Trump’s favor

By Natalia Drozdiak & Josh Wingrove

UKRAINE President Volodymyr Zelenskyy made sure to be on his best behavior for a crucial Oval Office meeting with Donald Trump—and it paid off.

Anxious to avoid the disastrous shouting match that ruined his last visit, Zelenskyy repeatedly thanked Trump for his involvement and handed over a letter for Trump’s wife Melania. He wore a black jacket and buttoned-up black dress shirt to deflect MAGA Republican criticism of the less formal wartime garb that’s become his trademark.

And he brought backup: several European leaders also looking to plead his case.

The far more accommodating stance worked. Trump and Zelenskyy got along and, more importantly, he came away with a valuable prize: a commitment from Trump, at least for now, to join security guarantees for any peace deal and reserve discussion on territorial swaps with Russia for later.

“It was our best meeting with President Trump,” Zelenskyy said. “This is a big step forward.”

The gathering was a win for western allies who had flown to Washington in a bid to steer the US president away from a quick deal at Ukraine’s expense—something that appeared more likely when he met President Vladimir Putin in Alaska last week. After that event, Trump had distanced himself from previous demands, shared by Europe and Ukraine, for a ceasefire before peace talks would start.

‘Something has changed’ LIKE Zelenskyy, European leaders also seemed to recognize that flattery was the best way to get what they wanted. During their session with Trump, they went around the table and hailed his efforts to break the deadlock with Putin— a reversal from past wariness about giving the Russian leader the limelight.

“Something is changing,” Italian Prime Minister Giorgia Meloni said. “Something has changed, thanks to you.” Trump reveled in the attention, boasting that “the heads of major countries and respected all over Europe” had come to see him.

He complimented German Chancellor Friedrich Merz on his tan and said Ursula von der Leyen, with whom he recently struck a trade deal, “might be more powerful than all these guys at the table.” He took Zelenskyy and French President Emmanuel Macron to a room displaying campaign-style hats with slogans like ‘MAKE AMERICA GREAT AGAIN’ and ‘TRUMP WAS RIGHT ABOUT EVERYTHING.’ He held one that read ‘4 MORE YEARS.’

The lighter mood showed throughout the day. Zelenskyy even successfully dug into a reporter who needled him about his clothing choice at the ill-fated February meeting. The Ukrainian leader asked him if he was wearing the same suit as last time, prompting guffaws from Trump.

change can be blind to demographic distinctions, including Britain’s famed class divide. The UK, which in recent years has had to deal with recurring sewage leaks into its rivers thanks to the mismanagement of its water utilities, is now struggling to deal with rising temperatures that are affecting all its citizens.

Though data on air conditioning remains sparse, a 2022 government estimate indicated that less than 5% of British households have it. Meanwhile, 55 percent of homes in

Wild power swings are driving Australia’s battery boom

BSecurity guarantee

WHEREAS Trump had previously pressured Zelenskyy to make a deal, the onus is now on Putin to take the next step. After speaking with the European leaders, Trump called Putin, then said a summit between the Russian and Ukrainian leaders was being set up, with European leaders saying that could come within two to three weeks. A separate meeting with Trump joining them would follow afterward.

Much remains unclear. Trump kept stressing that European nations are “going to take a lot of the burden” for security guarantees, though the US would also chip in. The scope of those guarantees isn’t known— and Trump said he wasn’t sure they would be necessary, the type of de facto faith in Putin’s word that raises worries of his allies.

After Trump and Putin spoke, Kremlin aide Yuri Ushakov said the two “discussed the idea of raising the level of Russian and Ukrainian representatives taking part in direct talks.” There was no commitment to Putin’s participation.

Still, the meeting managed to turn the page on Alaska, according to Steven Pifer, a former US ambassador to Ukraine now at the Brookings Institution.

“Zelenskyy may understand that at some point he’s going to have to consider a solution where he has to accept at least de facto some territory will remain in Russian hands,” Pifer said. “But he can’t go very far down that road without having a hard security guarantee.”

When Zelenskyy and his European counterparts spoke with Trump last week before the Alaska summit, the US president pledged he’d be tough on Putin and promised to walk if the Russian leader flinched over a ceasefire. But after the meeting, Trump swung behind Putin’s demands for Ukraine to cede all of the Donbas region— including areas Russia doesn’t control.

This time, Ukrainian officials felt Trump was sincere in the meeting about his desire to help with security guarantees, a person close to the Ukrainian government said. That could open possibilities in reaching a peace deal that Ukrainians would have rejected previously, according to the person, who asked not to be identified discussing private deliberations.

For now, the leaders agreed to continue conversations to first hammer out security guarantees and leave the discussion about territories in the Donbas for Zelenskyy’s meeting with Putin.

“I don’t want to hide that I wasn’t sure it would go as it did,” Merz later told reporters. “It could have gone differently but my expectations aren’t only met but exceeded when it comes to today’s meeting.” With assistance from Eric Martin, Hadriana Lowenkron and Andrea Palasciano/Bloomberg

the UK have bedrooms that are overheating, according to an analysis the same year by Arup, a consultancy.  Arup, which conducted its study for the UK’s Climate Change Committee, concluded that levels of overheating were even higher in London. Small bedrooms, loft rooms and apartments are particularly vulnerable, it said. A separate study published in June found that indoor overheating reported in UK dwellings soared from 20 percent in 2011 to 82 percent in 2022.

It’s a trend playing out across Europe, where demand for air conditioning is on the rise. “We are used to having the heating mindset,” says

By Keira Wright

ATTERY investors are piling into Australia, chasing profits from the world’s most volatile power market by deploying storage that buys low and sells high.

Australia this month overtook the UK to become the world’s thirdlargest market for big batteries by installed capacity, after the US and China, according to Rystad Energy. That growth is set to continue, with utility-scale battery power uptake expected to jump eightfold from 2024 levels by 2035, when most of the coal plants that form the backbone of the grid are set to retire, according to BloombergNEF.

The nation of almost 28 million is phasing out aging coal plants and aims to more than double renewable generation to 82 percent of the total by 2030, making it a test case for the global energy transition. A rooftop solar boom has aided the shift but also created midday power gluts, giving big batteries the chance to buy electricity cheaply and sell it back when prices rebound.

“Australia has a unique situation—or maybe you could call it a challenge—where all this surplus energy spills into the market every day,” said David Guiver, vice president and general manager of trading at the local unit of Shell Plc, which has stakes in several big batteries. “That why we have seen a lot of large scale battery energy storage investment.”

Large amounts of solar coming online, and frequent breakdowns at coal plants, have created an imbalance between supply and demand— even causing an unprecedented market failure in 2022. Prices are often negative around midday—meaning

users are paid to consume electricity—and soar during peak demand hours in the early evening, providing arbitrage opportunities.

Australia is the latest market where energy traders are betting on batteries to pad profits. After making fortunes hauling oil, gas and metals around the world, trading houses in Europe including Vitol Group and Trafigura Group have been turning their attention to opportunities to store and sell energy back to the grid. In the US, batteries have helped to prevent blackouts, although their rapid rollout has been hampered as tariffs add to costs.

Electricity prices in Australia’s main grid were negative or zero during a record 23 percent of the grid’s five-minute intervals in the fourth quarter of last year, which includes most of the southern hemisphere spring. That number fell to almost 11% in the first quarter, but is still above the rates seen in most European markets.

Last year, A$3.7 billion ($2.4 billion) was committed to largescale battery projects in Australia, following a record A$6.9 billion in 2023, according to the Clean Energy Council. Meanwhile, rooftop solar installations were the most since 2021—despite one in three homes already having panels, the highest penetration globally.

“Volatility is a massive opportunity that’s highly undervalued by the market,” said Nick Carter, chief executive officer of Akaysha Energy,

The nation of almost 28 million is phasing out aging coal plants and aims to more than double renewable generation to 82 percent of the total by 2030, making it a test case for the global energy transition. A rooftop solar boom has aided the shift but also created midday power gluts, giving big batteries the chance to buy electricity cheaply and sell it back when prices rebound.

a Blackrock Inc. unit that has battery projects in Australia, Japan and the US. That spread will likely hold or even widen over the next five to 10 years, he said.

Utility-scale batteries connected to the National Energy Market earned A$120.8 million in revenue from arbitrage last quarter—more than quadruple their income a year earlier. Batteries set prices in the grid 8 percent of the time, and were the highest-cost source at more than triple that of hydro, the most frequent price-setter.

That is a relatively new phenomenon—battery owners used to get most of their revenue by being paid to help balance demand and supply in the grid, known as ancillary services. However, the business model and technology have evolved rapidly since Elon Musk’s successful bet in 2017 that he could get the world’s first 100-megawatt model up and running in 100 days to help prevent outages in South Australia.

“Arbitrage is replacing ancillary services as the primary revenue stream for batteries, which we anticipate to remain the case,” said Andrew Steil, head of energy markets at Edify

Energy Pty, a renewables and storage company. “This is the new normal.” Akaysha, which doesn’t own power-generation assets or have retail customers, looks to arbitrage or government contracts for revenue. The company earlier this month started an A$1 billion super battery that’s set to be one of the world’s biggest at more than eight times the size of the original one Tesla Inc. helped build.  However, for traditional power utilities such as AGL Energy Ltd. and Origin Energy Ltd., batteries also serve as a means of limiting financial losses. They help manage portfolio risk due to outages, coal plant retirements and increasing price swings. Origin has committed about A$1.7 billion to developing two utility-scale batteries and has secured offtake agreements for two more that are under construction. Meanwhile, AGL—Australia’s biggest coal generator—operates two grid-scale batteries and expects to start a third early next year.

“Batteries have solved the need for short duration storage and quick response capacity,” said Simon Sarafian, general manager trading and origination at AGL. “We’ve been very happy with how our batteries have been performing, and we’re looking to roll out more.”

Earnings from the units will more than offset higher coal and gas procurement costs from 2028, AGL Chief Executive Officer Damien Nicks said during the company’s half-year earnings presentation on Wednesday.

“So many batteries and so much capacity needs to be built in this market,” he said. “Don’t underestimate the sheer amount of batteries that are required in this market over the coming decade. It is enormous.” Bloomberg

Trump tariffs get seal of approval as S&P affirms credit rating

By Ruth Carson

PRESIDENT Donald Trump’s sweeping tariffs have roiled markets, unnerved trade partners and provoked criticism from leading economists. But there is an upside: The levies will help the US maintain its fiscal health, according to S&P Global Ratings.

The credit rating company has affirmed its AA+ long-term rating for the US, in part because it thinks tariff revenues will reduce the fiscal hit of a recent tax and spending bill. It kept the outlook for the long-term rating stable.

The decision offers a glimmer of good news for Trump, who has pushed back against arguments that his historic program of tariffs will damage the US economy. Although the S&P analysts didn’t contradict that view, they stressed that as Trump embarks on a bold program of tax cuts and spending, tariffs will help soften the blow.

“Amid the rise in effective tariff rates, we expect meaningful tariff revenue to generally offset weaker fiscal outcomes that might otherwise be associated with the recent fiscal legislation, which contains both cuts and increases in tax and spending,” wrote analysts including Lisa Schineller in a note.

S&P’s views matter for investors in the world’s biggest bond market, which has been plagued by persistent questions over the fiscal deficit and debt sustainability. Yields on 30-year Treasuries jumped above 5 percent

Simon Pezzutto, a senior researcher at the research center Eurac. “But now with climate change, we need to switch to the cooling mindset— and most cities in northern Europe are not prepared for that.”

The world is on track for more than 3C of warming, according to the United Nations. After 2C, roughly one in five British homes will likely need air conditioning to stay within an acceptable temperature range, according to the Arup analysis. The rest should be able to make do with ceiling fans, reflective paint and shutters, it said.

Andy Love, founder of Shade the UK, a community interest company

in May as tariff fears and Trump’s multi-trillion dollar tax bill roiled global markets.

Buy America

WHETHER tariffs will give the US a meaningful revenue boost is a subject of debate among economists, who point to an apparent contradiction at the heart of Trump’s approach: Tariff revenues rely on trade, but Trump has also attempted to pull production back to the US and encourage consumers to buy American-made products—moves that would undercut future levy receipts.

The White House didn’t immediately reply to an out of hours request for comment.

So far, the numbers are strong.

Tariff revenue reached a fresh monthly record in July, with customs duties climbing to $28 billion.

Treasury Secretary Scott Bessent said tariff revenues for all of 2025 could be “well in excess of 1 percent of GDP,” revising his previous estimate of $300 billion. But the bipartisan Congressional Budget Office estimates the recently passed budget bill will add $3.4 trillion to the deficit over the next 10 years.

which works with government and authorities to manage overheating risk in buildings, says air conditioning can help keep people safe during periods of extreme heat. But he also encourages homeowners to consider other avenues first. Solutions such as external shutters, rarely used in UK homes, are effective and less expensive to install and to run, he said.

“If we jump straight into an air conditioning country, it’s a shame,” Love said.

Whatever the solution, there are real dangers to overheated buildings. Overheating at night means poor sleep, which as well as being

So far, the numbers are strong. Tariff revenue reached a fresh monthly record in July, with customs duties climbing to $28 billion. Treasury Secretary Scott Bessent said tariff revenues for all of 2025 could be “well in excess of 1 percent of GDP,” revising his previous estimate of $300 billion. But the bipartisan Congressional Budget Office estimates the recently passed budget bill will add $3.4 trillion to the deficit over the next 10 years.

US 30-year yields were close to flat around 4.94 percent in Asia trading Tuesday, while those on benchmark 10-year yields edged higher to 4.34 percent. That pointed to a muted short-term impact from the S&P report, even if it adds an important voice as traders weigh up the impact of tariffs over the coming months.

“These are still small nuances close to the top of the credit ratings hierarchy and it doesn’t signal any material change in the US fiscal health, which is a complex issue,” said Homin Lee, senior macro strategist at Lombard Odier Ltd. in Singapore.

“The pressures on the Fed to again consider defying rates markets and hold next month just received a (rather modest) boost as S&P Global Ratings delivered a solid report card

uncomfortable can lead to longterm health problems like immune system damage and higher risk of heart disease. Not being able to cool down at night also reduces the body’s ability to cope with longer periods of heat, increasing the risk of dehydration and heat stress.

Some UK restrictions on installing AC units are slowly being relaxed. For example, the government this year added air-to-air heat pumps—air conditioning units that can both heat and cool—to a list of building work that can be done without asking for permission. And the government is considering adding air-to-air systems to a subsidy

for the US’s economy and outlook,” said Bloomberg strategist Garfield Reynolds.

The US lost its last top rating from the big three credit companies in May, when Moody’s Ratings lowered the country from Aaa to Aa1. It blamed successive administrations and Congress for swelling budget deficits that it said show little sign of abating. Fitch Ratings and S&P had previously downgraded the US from AAA.

S&P said the stable outlook indicates its expectation that while the fiscal deficit won’t meaningfully improve, it also won’t persistently deteriorate over the next several years. The agency expects net general government debt to surpass 100 percent of GDP over the next three years, but it thinks the general government deficit will average 6 percent from 2025 to 2028, down from 7.5 percent last year. The rating affirmation could be a positive for the dollar after Trump’s tax and spending bill cast doubts on the sustainability of US debt, said Fiona Lim, a senior currency strategist at Malayan Banking Bhd. Still, the more lasting driver for the greenback will come from Federal Reserve minutes, as well as Fed Chair Jerome Powell’s speech in Jackson Hole on Friday, she said.

A gauge of the dollar edged higher during Asia trading hours on Tuesday.  With assistance from Matthew Burgess/ Bloomberg

program d esigned to make heat pumps more accessible, in the interest of helping Britain reach its net zero goals.

But limits are still in place. Apartments and buildings deemed valuable for conservation or aesthetic reasons—often expensive dwellings inhabited by high earners— still require special permission.

“Those rules were written for a cooler climate and a dirtier grid,” says Sam Richards, a former government adviser and chief executive of Britain Remade, a campaign group. “Neither of which exist anymore.” With assistance from Eamon Akil Farhat/ Bloomberg

Rich

August 20, 2025

BusinessMirror

Despite US tariffs, investors keen on economic estates

By Andrea E. San Juan

WASHINGTON’S

tariff policy has not dampened investor appetite within industrial economic zones, with investors seeing the Philippines as an alternative hub particularly for downstream electronics, according to Aboitiz InfraCapital Economic Estates.

“It’s not slowing down. I would say business as usual for us is a constant flow because we’re also constantly expanding, which means when they see us, the international leaders view us... they see their ability to scale, so they always call us. They also see our ecosystem, which is world class,” Monica Lorenzana Trajano, Aboitiz InfraCapital Economic Estates’ Vice President for Commercial Strategy told reporters at a briefing on Tuesday in Makati City. Trajano said investor inquiries for spaces within the economic estates have, by far, stayed “consistent” despite the additional tariff slapped on Philippine exports bound for the United States.

In fact, she said the economic zones,

at least through the lens of Aboitiz InfraCapital, have been benefitting from ‘China +1+1’ a supply chain diversification strategy which has emerged amid the global trade developments. This strategy is being adopted by firms wishing to relocate from China.

“I think it’s still consistent, if not faster for some markets. We’re heavy in the electronics supply chain, downstream right from Southeast Asia. Before they’re looking at China plus one, whether they went to Vietnam or Thailand or Malaysia, there is another plus one after. That’s what we’re seeing right now,” added Trajano.

In a statement early this year, the Philippine Economic Zone Authority (Peza) explained this shift in the global

3% less foreign nationals toured PHL in Jan-July

By Ma. Stella F. Arnaldo

ISpecial

to the BusinessMirror

NTERNATIONAL travelers to the Philippines reached some 3.51 million in the first seven months to July this year, almost unchanged from those who arrived in the same period in 2024.

Data from the Department of Tourism (DOT) showed this year’s tourist numbers were cushioned by a 16- percent rise in overseas Filipinos, as well as double-digit increases in visitors from Japan, Australia, and Canada.

Of the total year-to-date arrivals, some 3.19 million were foreign nationals, while 320,986 were overseas Filipinos (OFs), or Philippine passport holders permanently residing abroad. In the same period last year, there were 2.74-percent more foreign nationals who toured the Philippines, at around 3.28 million, and OFs were recorded at 277,476.

Compared to the prepandemic levels, the seven-month arrivals this year were 26.6-percent less than the 4.85 million who arrived in 2019. Of the seven-months arrivals in 2019, foreign nationals reached some 4.81 million, while OFs were just 45,231.

DOT sees further erosion of arrivals

THIS developed as the DOT admitted that the latest string of advisories by foreign embassies on criminal incidents perpetrated against the latter’s citizens could further impact on the tourism arrivals in the country.

“We note with deep concern that recent events have already prompted advisories from foreign embassies in the country’s top visitor source markets, which could adversely affect tourist confidence and the Philippines’ image as a safe and welcoming destination,” said the agency on Tuesday.

The DOT made this disclosure in a news statement, as it condemned the killing of two Japanese nationals in Manila last August 15. The Japanese nationals were shot dead after alighting from a taxi cab in Malate. A special investiga -

tion task force has been set up by the Manila Police District to probe the killing.

Prior to the incident, the South Korean embassy in Manila warned its nationals about going out in the evening while in the Philippines, after two Koreans were mugged at the Bonifacio Global City. The United States Department of State also reiterated its Level 2 travel advisory on the Philippines, instructing its citizens how to protect themselves, and what areas in the country to avoid.

The DOT said: “We extend our deepest sympathies to their families and loved ones as we call on law enforcement agencies—the Department of the Interior and Local Government (DILG) and the Philippine National Police (PNP)—to pursue a swift and thorough investigation into the incident.”

SoKor still top market

THE agency noted that the “millions of Filipinos” depended on tourism for their jobs and the industry will be strengthened when visitors are assured of peace, safety, and security.

Despite the 18.6-percent drop in its visiting nationals from January to July 2025, South Korea continued to top the list of key tourism markets of the Philippines at 759,009. This was followed by tourists from the US at 631,384 (up 8.8 percent); Japan 253,963 (+18.75 percent); Australia 178,236 (+18.77 percent); and China 159,150 (-27.57 percent). Arrivals from Canada followed at 155,657 (up 19.52 percent); Taiwan 119,016 (-12.7 percent); the United Kingdom 105,707 (+8.58 percent); Singapore 90,102 (-0.4 percent); and Malaysia 54,884 (-3.97 percent).

Speaking at a conference among hotel sales and marketing professionals, DILG Secretary Juanito Victor “Jonvic” Remulla blamed criminal incidents in the country as the reason foreign tourists were avoiding the Philippines. (See, “Tourists aren’t coming to the PHL because they don’t feel safe—Jonvic,” in the BusinessMirror, June 20, 2025.)

trade arena which stemmed from the recent imposition of additional import tariffs by the US government against China, Mexico and India.

Peza said this has put pressure on export manufacturers in China to shift parts of their supply chains and production processes away from China’s factory hubs and into new investment “hotspots” in the region (other than Vietnam and Mexico) to mitigate the impact of US tariffs directed at Chinese imports.

Meanwhile, Trajano shared that a lot of foreign firms are “understanding the strength of our domestic market,” adding that even if these firms are export-oriented, they are aiming to tap the Philippine market.

“They’re seeing proof of concept in our estates. While there’s Epson, for example whose 33 hectares is heavily or entirely export-oriented, there’s also Yamaha, that’s 11 hectares and that’s all domestic market that has been there for almost 15 years,” Trajano explained.

The Aboitiz InfraCapital official said tariff-wise, the estates may be facing a lot of headwinds, but she noted, “I think because of the value that we created in our estates, for us, from where we’re sitting, it’s business as usual.”

In a separate Viber message to the BusinessMirror, Peza Director Gener-

al Tereso O. Panga said many ecozone exporters to the US are adapting “through a combination of cost management, supply chain optimization, and market diversification.”

“While the 19-percent tariff poses added costs, its impact has been somewhat cushioned by the fact that the rate is aligned with Asean peers such as Cambodia, Thailand, Indonesia, and Malaysia, maintaining a level playing field,” Panga told this newspaper.

Citing estimates from former Congressman Joey Sarte Salceda, the Peza chief emphasized that only around 31 percent of Philippine exports to the US are “fully subjected to the 19 percent rate, while the rest particularly electronics, semiconductors, and key industrial products benefit from existing exemptions that reduce the effective tariff to about 6.3 percent.”

Aboitiz InfraCapital’s economic estates are situated in key areas throughout Luzon and Visayas, offering “prime industrial and commercial development opportunities” for planned business expansions.

The firm has four economic estates: LIMA Estate located in Lipa and Malvar, Batangas; Mactan Economic Zone Processing 2 (MEZ2) at Lapu-Lapu City, Cebu; TARI Estate in Tarlac; and West Cebu Estate on the western coast of Cebu.

By Bless Aubrey Ogerio @blessogerio

HAINAN, China—A Chinese research institute is looking at the Philippines as a potential source of tropical water lily seeds and a partner for cultivation and trade.

The Sanya Institute of Nanjing Agricultural University on Tuesday said it sees opportunities to collect and breed water lily varieties from the Philippines for use in China’s domestic market, citing the country’s climate and lower labor costs as advantages.

“We really want to collect seeds from the Philippines . . . Maybe

AI-driven data centers need lots

By Rizal Raoul Reyes @brownindio

TO harness and maximize the full potential of artificial intelligence (AI)driven data center investments sweeping the Asean region, major think tank Stratbase Institute urged the government to deliver a robust power and policy framework to back it up.

“This opportunity is real, but it comes with a caveat—data centers hosting AI technologies need energy on a massive scale,” said Prof. Victor Andres Manhit, President of Stratbase Institute on Tuesday in a

press statement.

“AI also requires robust end-toend connectivity infrastructure. If we can align our energy strategy with this momentum, we have a real shot at attracting AI hyperscalers that can make the Philippines a major player in the global digital ecosystem, “ Manhit added.

Although the interest in the Philippines is growing, Manhit emphasized that reliable power and broadband connectivity readiness will be deal-breaking requisites for data center investors. “There will be no data center boom if we cannot guarantee a power supply that is sufficient,

stable, and clean,” he said. Global trends show that AI workloads require far more electricity than traditional cloud operations.

Southeast Asia’s data center capacity is expected to triple by 2030, and countries like Indonesia and Malaysia are scaling up their energy infrastructure to capture this growth.

“Those countries are pairing smart energy policies with data localization laws to attract longterm investment,” Manhit noted. “Meanwhile, the Philippines is still working to stabilize its grid and untangle energy bottlenecks.” Without a forward-looking ener-

gy plan to keep pace with AI-driven demand, Manhit warned the country risks being bypassed. “We cannot talk about digital transformation if we don’t solve the power equation first,” Manhit said. “Data centers need high-density, roundthe-clock electricity.” Manhit called on the Department of Energy to accelerate new base-load capacities that have long been delayed. “We need the DOE to prioritize expanding gene ration capacity, modernizing the grid, and clearing regulatory roadblocks. There must also be clear support for green energy

Editor: Jennifer A. Ng

Companies

AstraZeneca, govt team up for pharma innovation hub

By Andrea E. San Juan @andreasanjuan

THE Philippine Economic Zone Authority (Peza) has sealed a deal with AstraZeneca Pharmaceuticals (Phils.) to establish the country’s first pharma innovation hub, a flagship project aimed at boosting healthcare innovation and expanding access to affordable medicines in the Philippines.

The Department of Trade and Industry (DTI), the parent agency of Peza, made this pronouncement after DTI Secretary Cristina A. Roque, who also chairs the Peza Board, witnessed the signing of the memorandum of understanding (MOU) on August 19 between Peza Director General Tereso O. Panga and AstraZeneca Philippines Country President Lotis Ramin. Under the agreement, AstraZen-

eca’s Innovation Hub will serve as a “regional center” for digital health technology, research and development collaboration, and patientcentered healthcare solutions.

“The initial project under the hub will be an Oncology Innovation Center, modeled after AstraZeneca’s prestigious pharma hub in the United Kingdom,” DTI said in a statement. In a Viber message, DTI quoted AstraZeneca Asia Area Vice Presi-

dent Sylvia Varela as saying that that the pharmaceutical firm will invest over P7 billion in the country, which includes the multi-stakeholder health innovation hub.

The country’s Trade department noted that this center will use artificial intelligence for early cancer detection, expand patient-support systems, build healthcare workforce capacity, and promote evidencebased policy development.

According to DTI, the MOU also includes initiatives where AstraZeneca will support the Philippines’s investment promotion drive by holding business forums, investment briefings, business-tobusiness match-making sessions, and international delegations to attract local and foreign healthcarerelated investments.

In turn, Peza will help AstraZeneca identify “strategic” ecozone locations for its projects, assist with regulatory processes, and connect the company with support industries and potential joint venture partners.

Panga said this is part of Peza’s plan to establish more medicalcentered ecozones or pharma zones.

“We want to attract more companies that are into development, manufacturing and research in the medical field in order to create a value chain that will lead to the lowering of cost of medicines for Filipinos.”

For her part, Roque said the pharma innovation hub reflects what the country can achieve “when global expertise meets local commitment.”

“This partnership with AstraZeneca and Peza is a big step toward President Ferdinand R. Marcos Jr.’s goal of making medicines more affordable and accessible, while also laying the foundation for the Philippines to become a hub for research, digital health, and new medical investments.”

DTI said the Philippines’s pharmaceutical sector is one of its “fastest-growing” industries, with more than 14 multinational pharma companies.

Under Peza, over 50 manufacturers and medical device firms like Terumo Philippines, Merck Business Solutions, JMS Healthcare, and Royale Life Pharma, among others are currently operating in economic zones nationwide, DTI noted.

PNOC-EC seeks joint venture partners

TBy Lenie Lectura @llectura

HE Philippine National Oil Co.-Exploration Corp. (PNOC-EC) is in search of joint venture (JV) partners to explore over 7,000 square kilometers (km²) in offshore northwest Palawan for oil and gas potential.

The area to be explored is under service contract (SC) 57 in which PNOC-EC holds a 100-per -

cent interest. SC57 covers 7,120 (km²) in offshore northwest Palawan and is about 10 km northeast of the Malampaya field in offshore Palawan.

In a farm-in invite, PNOC-EC said it is in need of a joint venture operator for a minimum of 51 percent to a maximum of 70 percent participating interest in SC57. This means that whoever PNOCEC will have a controlling stake in the project.

The deadline for submission of technical and financial proposal is on September 19. “PNOC EC reserves the right to accept or reject any proposals and to annul the farm-out process at any time to the contract award, without thereby incurring any liability to the affected thirdparty participants,” it said.

In July 2024, the Department of Energy (DOE) said PNOC-EC completed the offshore 3D seismic surveys for SC 57. PNOC-EC engaged

AYALA Land Inc. (ALI) has appointed former Areit Inc. President and CEO Jose Eduardo A. Quimpo II as its new chief financial officer (CFO) and treasurer, effective August 19.

Quimpo succeeds 21-year Ayala Land veteran Augusto D. Bengzon, whose eight-year tenure as CFO shaped the company’s strong capital position, broadened and diversified its portfolio across multiple real estate asset classes and award-winning investor relations, corporate governance and corporate treasury programs. Quimpo, meanwhile, was replaced in Areit by Ayala Corp.’s CFO Alberto M. de Larrazabal

De Larrazabal, who is also expected to step down from his CFO post in Ayala by yearend, will serve the unexpired term of Areit director Augusto D. Bengzon, who stepped down from the board also due to organizational movement within the group.

Quimpo brings extensive experience in corporate finance, capital markets and risk management, having served in leadership roles across the Ayala Land Group and in the banking industry.

He has also held leadership posts within Ayala Land since May 2024, including as CFO of the leasing and hospitality group, chief risk officer and head for corporate finance, strategy and investor relations. VG Cabuag

Park Inn Sta. Rosa to open doors in 2029—SM Hotels

By VG Cabuag @villygc

M Hotels and Conventions

SCorp., the hospitality arm of SM Prime Holdings Inc., said it will open Park Inn by Radisson in Sta. Rosa, Laguna by the first quarter of 2029.

SM Hotels said it spent some P1.5 billion to build the facility, which will have 201 rooms, along with dining outlets, recreational facilities such as a pool and gym and dedicated spaces for meetings and events.

Park Inn hotel will connect directly to a premier SM mall in Sta. Rosa and the upcoming SMX Sta. Rosa Trade Hall via bridgeway. This new 4,000-square meter events hub is poised to draw regional and national MICE organizers and guests, the company said.

The hotel is strategically located within an integrated development of SM Prime along the Sta. RosaTagaytay Road in Laguna.

“With the City of Sta. Rosa’s growth as a business and industrial hub, demand for accommodation from business and leisure travelers continues to rise. The new hotel will meet this need, generate local jobs, and boost the city’s economic activity,” said SM Hotels Executive Vice President Peggy Angeles.

Shearwater GeoServices to deploy seismic survey vessel SW Thuridur. The seismic data collected facilitated a better understanding of the geological characteristics of the Northwest Palawan basin.

The seismic survey was approved by the DOE as part of PNOC-EC’s work commitments in its service contract.

PNOC-EC is either the operator or partner in eight petroleum SCs covering an aggregate area of 57,630 (km²).

Fortune Life inaugurates Tagbilaran branch

FORTUNE Life Insurance Company marked a significant milestone with the inauguration and blessing of its newly relocated Tagbilaran Branch, alongside a sales caravan, held on July 18, 2025, in Bohol. The event highlighted the company’s strengthened presence in the region and its continued commitment to deeper engagement with the Boholano community.

The ribbon-cutting ceremony was led by the guest of honor, Congressman John Geesnell “Baba” Yap, followed by the blessing of the new branch, of -

ficiated by Rev. Fr. Martin Juan Legitimas. As part of the day’s program, a targeted training session was conducted to equip agents with updates on Fortune Life’s latest product offerings and strengthen their engagement in key sales initiatives.

In the afternoon, a lively Motorcade Sales Caravan energized the streets of Tagbilaran and neighboring areas, promoting Fortune Life’s advocacy of protection, savings, and investment for Filipino families. The activity served as a dynamic invitation for residents to visit the branch and explore affordable insurance

options tailored to their needs. Among those present at the event were AVP for Marketing Jefferson II Dumandan, Visayas Regional Sales Manager Gerald Casia, Agency Manager Eunice Hangad, and members of the sales force from the Jabines-Tagbilaran Branch.

This event reflects the company’s vision to expand its reach, empower its agents, and deliver accessible and reliable insurance solutions to every community it serves. Fortune Life is part of the ALC Group of Companies founded by the late Amb. Antonio L. Cabangon Chua.

Designed by H1 Architecture, the hotel blends contemporary hospitality with local character and brand standards.

“The hotel will complement our other existing portfolio by capturing a different demand segment while reinforcing the integrated estate strategy of SM Prime in Santa Rosa, Laguna,” Angeles said. She said rates for the hotel could range from P4,500 to P5,000 per night for 2029 prices. She also said the company is planning for more Park Inn by Radisson properties in other areas.

“Actually, construction is already ongoing in our Park Inn by Radisson in Cebu, which is the largest of the Park Inns that will be 301 rooms. But the remaining locations you will we’re just finalizing them and you will be announcing them in due course.” SM Hotels currently operates 10 hotels with over 2,600 rooms, six convention centers and two trade halls with more than 42,000 square meter of leasable space. Its portfolio includes Park Inn by Radisson, as well as Conrad Manila, Radisson Blu, Lanson Place, Taal Vista Hotel and Pico Sands Hotel.

Park Inn by Radisson SM Sta. Rosa strengthens SM Prime’s vision of developing integrated estates in key growth centers, where hospitality, business and retail converge to deliver a seamless and holistic experience.

THE Manila Electric Co. (Meralco) has forged new partnerships with energy and technology institutions in South Korea.

It said Tuesday that its energy education unit, Meralco Power Academy (MPA), signed a memorandum of understanding (MOU) with Kepco International Nuclear Graduate School (KINGS) where Meralco will be sending scholars beginning March 2026.

This forms part of Meralco’s Filipino Scholars and Interns on Nuclear Engineering (FISSION) program through which the company aims to build a skilled workforce in the highly specialized field of nuclear engineering.

Established by Korea Electric Power Corp. (Kepco), KINGS offers an industry-integrated curriculum as well as access to live plant data, simulators, field visits, and digital learning environments tailored to nuclear operations and reactor management. Meralco also discussed potential collaborations with Kepco on smart grid modernization, storm hardening, and energy transition strategies—particularly on advanced metering infrastructure (AMI) rollout, grid automation, data analytics, and distributed energy resource integration.

Meralco and Kepco also reaffirmed their push for mutual capability-building initiatives. MPA is set to host more than 20 students from KEPCO-operated Sudo Electric Technical High School in the first quarter of 2026. Since 2023, MPA has hosted 71 students as part of the foreign in-

stitution’s Philippine Technical and Cultural Immersion Program. Also, Meralco entered into an agreement with DL Engineering & Construction to explore the deployment of Small Modular Reactors (SMRs) in the Philippines. The MOU covers feasibility studies, site assessments, and long-term strategic planning. Meralco expressed its strong interest in SMRs as a futureready solution, particularly for offgrid areas in the country.

Meralco also held site visits and strategic dialogues with its existing partners, Korea Hydro and Nuclear Power (KHNP), Samsung C&T Corp., and LG Energy Solutions whose Namwon Substation is home to South Korea’s largest Battery Energy Storage System (BESS).

“Our strategic engagements in South Korea underscores our commitment to the responsible development of nuclear energy. By partnering with global leaders with deep institutional knowledge, technical expertise and actual experience in operating nuclear facilities, we are building our own capabilities to ensure sustainable and safe adoption of nuclear energy in the Philippines,” Meralco Executive Vice President and Chief Operating Officer Ronnie L. Aperocho said. Through its NEST program, Meralco is actively exploring a multitrack approach that evaluates all viable deployment pathways for the safe and responsible integration of nuclear power into the Philippine energy mix as a long-term, low-carbon energy solution. Lenie Lectura

PHOTO shows the facade of Park Inn Radisson North Edsa. FROM WWW.RADISSONHOTELS.COM

FORTUNE Life officers and Tagbilaran agents at the newly relocated branch office in Bohol during the sales caravan.

Compounding interest

George S. Chua

FINEX FREE ENTERPRISE

EVERYONE knows that interest is what your money earns as it is used by others. When it is deposited in the bank, they normally pay you an interest for keeping it there, and when you borrow money from say your credit card, you end up paying an interest for using their money. The interest is normally paid on a periodic basis, which in most cases is every month for banks and credit card companies. What happens when this interest is left in the deposit or unpaid in the credit card? It gets compounded! This is when this interest becomes part of the principal and like the original principal earns interest as well! As a simple example, when you have a deposit of 1,000,000 for 1 year and the bank gave you an interest rate of 12 percent per annum, at the end of 1 year you will get an interest of 120,000, which is 1,000,000 x (0.12) = 120,000. Now, what if you are paid that same 12 percent per annum interest every month and you did not touch that interest and just kept it in your deposit?

In the first month you would get an interest of 10,000, which you calculate by 1,000,000 x (0.01) = 10,000. On the second month your principal is no longer 1,000,000 but is now 1,010,000! Therefore of the second month your interest will now be 1,010,000 X (0.01) = 10,100. As if by some magic you now got 100 more. What happens on the third month? Your principal now becomes 1,020,100 and the interest is you will earn is 1,020,100 x (0.01) = 10,201, which is 101 more than the second month! If you keep on doing this for the whole 12 months or 1 year, the total amount you would have would be 1,126,825 = 1,000,000 x (1.01)^12. An increase of 6,825 more interest due to the effect of compounding!

Compounding interest has a snowballing effect that allows interest to become part of the principal hence enabling the interest to earn interest. Is this good or bad? Well it depends on which side you are on, for the depositor or lender, compounding interest will allow them to get more interest. The effect of compounding interest gets magnified as the interest rate becomes higher, the compounding cycle becomes shorter and the tenor becomes longer. Knowing which side of the equation you are on will enable you to negotiate for more favorable terms to your advantage!

After reading this, you should be able to realize that in a stable interest rate environment, choosing a shorter tenor placement and renewing over and over again will give you a higher effective interest rate. However, when the interest rate for longer tenors is higher than shorter one, you need to take into account if the compounding effect will be enough to make up for the lower interest rate. In situations when interest rates are headed lower, you may want to lock in your placement rates at a higher interest rate. Hopefully, learning about these things will help you manage your finances better.

Banking&Finance

Demand for T-bonds nearly quadrupled

By Reine Juvierre Alberto @reine_alberto

THE demand for 10-year Treasury bonds (T-bonds) increased nearly fourfold as investors’ asking yields dropped in response to dovish signals from local monetary authorities and ample market liquidity.

During Tuesday’s public auction, the auction committee of the Bureau of the Treasury (BTr) saw strong demand for the long-term government securities with a remaining life of nine years and seven months to maturity.

Total bids hit P98.910 billion, 3.9 times oversubscribed the P25-billion

programmed amount for the tender.

The average yield of T-bonds, meanwhile, fell by 28.8 basis points to 5.997 percent, down from the 6.285 percent recorded in the previous auction for the same tenor last July 15.

This is also 1.2 basis points lower than the secondary market rate of

6.009 percent, based on the Philippine Bloomberg Valuation Service reference rate for the 10-year tenor.

The debt papers fetched rates between a low of 5.995 percent and a high of 6 percent.

With high demand and declining yields, the Treasury fully awarded the offer, generating the full P25 billion amount.

The demand for T-bonds increased after the Treasury raised P507.16 billion from the sale of retail treasury bonds, ushering in P425.5 billion in new money and P81.65 billion through a bond exchange program.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said another large T-bond maturity could add P288.659 billion to market liquidity on September 9.

“That could again increase the demand for government securities

Cebuana Lhuillier, Maya ink lending deal

ANEW partnership between Cebuana Lhuillier Finance Corp. and the Maya Group will extend “easy loans” to clients and provide micro-enterprises and self-employed Filipinos access to working capital.

A joint statement by the two firms read the agreement is expected to expand the range of financial services available to Filipinos and strengthen the financial health of communities across the country.

The statement failed to disclose the value of the agreement.

Nonetheless, the firms assert that the partnership combines Cebuana Lhuillier’s network and remittance services with Maya’s digital banking and payments business to deliver access to credit, international remittance and digital financial tools for agents and consumers alike.

A ccording to the companies, the agreement would combine Ce -

buana Lhuillier’s network of over 3,500 branches and 25,000 partner doors nationwide with Maya’s digital banking and payments infrastructure in delivering these services at scale.

Under the partnership, Cebuana Lhuillier and Maya will rollout “Easy Loan,” a flexible revolving credit line of P1,000 to P30,000 for clients.

Qualified Cebuana Lhuillier authorized agents, which includes micro-merchants, sari-sari stores, and independent sellers, can avail of up to P350,000 of loan for working capital, the statement read. These funds can be received within minutes and are manageable through flexible direct repayments, which can be done online, it added.

The partnership also unlocks new income streams for Maya Center agents, who can now offer international remittance services and gain access to Cebuana Lhuil-

lier’s network.

With onboarding, agents can boost their earnings and enjoy exclusive discounted subscription— available only to Maya agents—while offering global remittance services to their communities.

“ This partnership allows us to provide our customers with more services on ground and online to add value to their financial journey,” Cebuana Lhuillier President and CEO Jean Henri Lhuillier was quoted in the statement as saying.

“ Inclusion today means more than access—it’s about building resilience. Together with Cebuana Lhuillier, we’re putting simple, practical financial tools in people’s hands so they can take control of their money and their future,” Orlando B. Vea, Maya Group CEO and co-founder of Maya Bank Inc., was quoted in the statement as saying.

Cai U. Ordinario

DOF eyes Austria-PHL finance scheme

THE Philippines and Austria are finalizing a Governmentto-Government (G2G) framework to strengthen financial cooperation, the Department of Finance (DOF) posted on its social media account last Tuesday.

The post read that the framework was discussed during a meeting on August 19 by Finance Secretary Ralph G. Recto and Austrian Ambassador Johann Brieger. The latter

acknowledged Recto’s support to the creation og the framework, according to the DOF.

The DOF quoted Brieger as saying that Austrian businesses are increasingly relocating to the Philippines, with several firms already prepared to begin operations. Austria’s strong interest in investing in infrastructure, education, agriculture and health was also cited by the envoy.

According to the DOF, its chief assured the ambassador that the “best place” to grow their business is the Philippines, which is projected to become the world’s 13th-largest consumer market by 2030.

Recto also underscored the DOF’s commitment to provide the necessary “handholding” for Austrian investors to ensure that they can establish and expand comfortably in the Philippines. Reine Juvierre S. Alberto

Japan’s bond sale stresses fiscal issues

JAPAN’S 20-year government bond auction drew demand that was weaker than its 12-month average, reflecting investor caution about longer dated debt facing fiscal risks like higher government spending and tax cuts.

The sale saw a bid-to-cover ratio of 3.09, compared with 3.15 at the previous auction and a 12-month average of 3.24. Japan’s bond futures extended losses and yields rose after the result. The nation’s longermaturity bonds have been in sharp focus after the ruling coalition lost its majority at last month’s upper house election.

Japanese Prime Minister Shigeru Ishiba’s dismal election performance last month and the prospect of an early leadership race have investors speculating about fiscal expansion. Those concerns also come at a time when the Bank of Japan is gradually reining in its massive bond purchases, leaving a demand gap.

“The results were decent but slightly weak” due to the political situation, said Takahiro Otsuka, senior fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities Co.

“Super-long bonds will remain sensitive to political developments, and fiscal expansion risks could add upward pressure on yields.”

The 20-year bond yield remains near last month’s peaks, its highest level since 1999, despite recent easing. The Ministry of Finance has already trimmed issuance of super-long bonds from July in an attempt to calm the bond market, and the Bank of Japan has also slowed its tapering of debt purchases.

“Japanese bonds are having a knee-jerk shift lower after the bidto-cover ratio came in below its one-year average, even though the average 20-year yield was highest

such as Treasury bills and Treasury bonds (net of the latest RTB exchange program),” Ricafort said.

Sun Life Investment Management and Trust Corp. President and Chief Investment Officer Michael Gerard D. Enriquez said the strong demand also reflected market anticipation of a local key policy rate cut.

Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said a rate cut this month is “quite likely” as inflation could ease to 2 percent this year.

Remolona said delivering two cuts is more possible than three this year, as this would breach what the BSP considers the “Goldilocks rate.”

The seventh BSP Governor will convene the Monetary Board, the BSP’s highest policy-making body, on August 28 for its rate-setting caucus. It will still have two more meetings before the year ends.

Meanwhile, the benchmark 10year US Treasury bond yield stood at 4.34 percent, as the US Federal Reserve is also expected to deliver a 25-basis point rate cut on September 17.

This month, the Treasury seeks to borrow P120 billion from the domestic debt market by offering T-bonds every Tuesday as part

by 1.33 percent from P1.570 trillion in the same period last year.

The government’s outstanding debt climbed to P17.27 trillion as of end-June, 11.5 percent higher yearon-year from P15.483 trillion.

‘Returning funds to PDIC, PhilHealth key to budget’

RETURNING the reserve funds obtained from the Philippine Health Insurance Corp. (PhilHealth) and Philippine Deposit Insurance Corp. (PDIC) transferred to the National Treasury this year could increase the country’s budget deficit, according to Finance Secretary Ralph G. Recto.

During the Development Budget Coordination Committee (DBCC) briefing for the House Committee on Appropriations last Monday, Recto said the Department of Finance (DOF) will comply if the Supreme Court tells them to return the funds to PhilHealth and PDIC.

This is in response to Akbayan Party-list Representative Jose Manuel Tadeo “Chel” I. Diokno’s query on what will happen if the Supreme Court requires the DOF to return the reserve funds.

Last year, the Supreme Court issued a temporary restraining order to stop the fund transfer, leaving PhilHealth only remitting P60 billion and PDIC with P107.3 billion to the National Treasury.

“Assuming that the decision is made in the middle of the budget here, then that will increase the deficit,” Recto said.

The country’s budget deficit widened to P765.5 billion in the first half of the year, as government expenditures reached P3.025 trillion and outpaced revenue collections at P2.260 trillion.

As a percentage of gross domes-

Ttic product (GDP), this stood at 5.7 percent in the first semester, and is targeted to be brought down to 5.5 percent by the end of the year. The government seeks to narrow the deficit to P1.551 trillion by 2028 and further down to P1.325 trillion by 2030.

Apart from widening the deficit, Recto said returning the funds would affect the country’s credit ratings, which keeps borrowing costs low for the country and indicates strong investor confidence.

In 2024, the Philippines received its credit rating upgrade of A minus from the Rating and Investment Information, Inc. and an outlook upgrade to Positive from Standard and Poor.

Fitch Ratings’ affirmed the Philippines’ ‘BBB’ credit rating with ‘Stable’ outlook, while the Japan Credit Rating Agency, Ltd. affirmed its high ‘A-’ credit rating and stable outlook this year.

“If we are to comply, we do it in the succeeding year’s budget,” Recto said. To recall, the DOF issued Memorandum Circular No. 003-2024 in July 2024, ordering PhilHealth and PDIC to remit P89.9 billion and P110 billion, respectively, to the National Treasury. The DOF defended that the funds will be used for health, social services and infrastructure projects under unprogrammed appropriations (UA) in the 2024 General Appropriations Act (GAA) amounting to P203.1 billion. Reine Juvierre S. Alberto

OSG deal to fortify

HE Philippine Deposit Insurance Corp. (PDIC) announced that it entered into a Memorandum of Agreement (MOA) with the Office of the Solicitor General (OSG) to strengthen the enforcement of banking laws and streamline the handling of criminal cases against erring bank officials.

this year at auction,” Mark Cranfield, MLIV Strategist at Bloomberg, said. “That’s hardly a vote of confidence when the 20-year sector is yielding around 1 percent more than the benchmark 10-year. This suggests bond traders see next month’s BOJ meeting as still being live for a rate hike.” Tuesday’s auction was a key test for longer tenors which are under pressure globally amid growing concern over widening fiscal deficits. German 30-year yields rose to a 14year high last week. Bloomberg News

PDIC President and CEO Roberto B. Tan and Solicitor General Darlene Marie B. Berberabe signed the MOA in simple ceremonies held at the OSG Building in Makati City on August 7, 2025, a statement issued by the PDIC last Tuesday read.

It added that the agreement “represents more than just institutional cooperation–it is a commitment to upholding justice, protecting depositors and preserving public trust in our financial system.”

According to the PDIC, the OSG is expected to extend other legal services as may be required by the agency. The PDIC also expects the OSG to create a task force to ensure better coordination and efficient handling of referred cases. Tan was quoted in the statement as saying that the agreement “is a milestone in the shared commitment of both agencies ‘to uphold justice and integrity in public trust and the financial system.’” Berberabe was quoted in the same statement as saying that her office is “committed to providing help and assistance” not only with the criminal cases but also in preventing litigation.

As a government instrumentality, the PDIC has the authority to file criminal cases to safeguard the interests of the depositing public and maintain confidence in the banking system against illegal schemes and machinations punishable under the Revised Penal Code.

“With this agreement, the PDIC and the OSG have established a clear framework for coordinated action in criminal cases elevated before the Court of Appeals or the Supreme Court, ensuring the accountability of those entrusted with the hard-earned money of our depositors.”

From confused to convinced

EVERYONE encounters moments when the weight of a decision feels like carrying a backpack filled with heavy stones. Whether it is deciding on a career shift, moving to another city, starting a family, or launching a new business idea, the pressure can be intense. You might feel torn between appealing options, worried about making the wrong move, or frozen by the fear of regret. The truth is that decision-making is a skill, and like any skill, it improves with the right habits and perspective.

First, give yourself the gift of time. Major decisions rarely benefit from being rushed. When possible, set aside a reasonable period to think through your options without unnecessary pressure. This is not an excuse for endless delay. Instead, create a realistic deadline that allows you to explore possibilities thoroughly while avoiding last-minute panic. Time gives emotions space to settle and allows your mind to see patterns and opportunities more clearly.

Remember to separate feelings from facts. Emotions are valuable because they reveal what matters to you, but they can distort judgment if not balanced with objective information. For example, you might feel anxious about leaving a stable job, yet the facts may show that the new role offers better growth, stability, and alignment with your values. Write down the facts in one column and your emotions in another. This side-by-side view makes it easier to notice where fear might be overshadowing opportunity. Listen to your body as well as your mind. Sometimes intuition is not a whisper in your head but something your body feels. For instance, thinking about one job offer might make you feel drained even before you start, while picturing another may leave you feeling alert and motivated. This is not to say that gut feelings are flawless guides, but when paired with thoughtful analysis and concrete facts, they can add another valuable layer of insight. Your body and mind are on the same team, and when they agree you can

move forward with greater confidence.

You also need to weigh the risks and rewards. Every big choice carries both. Create a table listing potential benefits and possible downsides. Then, consider how likely each downside is to occur and whether you could handle it if it did. This transforms vague anxiety into a set of specific possibilities that you can prepare for or manage. This also helps you identify which benefit you are willing to let go, and which risks you are not willing to take.

You can also seek trusted perspectives. Talking with people who know you well or have faced similar decisions can reveal angles or possibilities you may have overlooked. They can share lessons from their experiences or highlight factors you may have not considered. However, their advice is a resource, not a replacement for your own judgment. Ultimately,

Join hands-on running clinic that inspires new warriors to celebrate National Heroes Day

that passion for running—the most fundamental part of conquering any race and a powerful metaphor for overcoming challenges

Top retail destination Shangri-La Plaza marks National Heroes Day by highlighting the importance of perseverance, discipline and finding joy in the journey with the Spartan Run Club hands-on running clinic on August 25. Designed to boost confidence and improve techniques, the session aims to take one’s running skills to the next level.

Led by elite OCR athlete, 2023 World OCR 100-meter gold medalist, and 2023 SEA Games silver medalist Jeffrey Reginio, the clinic is open to runners of all ages and levels with one mission

in mind—progress. The experience presents not just your next step toward greatness but also the wonderful opportunity to connect with the diverse and driven community of runners.

There are limited slots for the session so interested parties should visit the Spartan Race Philippines Facebook page to get the registration details. Fee is P100 only for an action-packed day. Here are details of the event: race day (August 25) at Streetscape, Shangri-La Plaza, starts at 5 am with a warm-up, followed by the running clinic until 7 am. Finish strong with a Coffee Party until 9 am to celebrate everyone’s efforts and results.

More information can be found at www. facebook.com/shangrilaplazaofficial.

the decision must reflect your values, priorities and circumstances, ensuring it aligns with your life vision. Then, imagine your life after each choice. Visualization is a powerful tool for testing possibilities. Picture yourself one year after making the decision. What does a typical day look like? How do you feel as you wake up and go through your routine? What challenges are you handling and what joys fill your time? This exercise can reveal whether an option aligns with your values, priorities, and vision for long term well-being.

Remember that very few decisions are truly permanent. Choices that feel enormous or overwhelming today can often be adjusted, refined, or even reversed as life unfolds. Understanding that you can change course reduces the pressure to be perfect. This perspective eases fear, bolsters courage, and allows you to move forward with clarity and confidence, knowing that flexibility is part of making wise and thoughtful decisions.

Finally, once you decide, commit to it wholeheartedly. Doubt may still linger, but repeated second guessing only drains energy and delays progress. Stand by your choice and give it room to develop before questioning it again. No decision is made with perfect foresight, yet confidence, patience and commitment often transform a good choice into the right one over time.

Clarity in decision making does not mean eliminating all uncertainty. It means cultivating enough understanding, perspective and self-trust to act with confidence even when outcomes are unknown. Big life choices always carry some risk, yet they offer opportunities for growth, discovery, and a more meaningful future. Face each crossroads with thoughtfulness, listen to yourself, and step forward with courage, knowing that every choice you make today is a step toward creating the life you truly want and deserve.

By Eugenia Last

entertainment and network. Expand your circle and see what others are doing to combat boredom or to ensure you spend your time wisely. Let go of the past, and it will be easier to manifest how you want your life to unfold. ★★

SCORPIO (Oct. 23-Nov. 21): What you do will have a more significant influence on your future than what you allude to. Stop worrying about what others think or how they react, and start creating an agenda that gives you the breathing room to expand your interests.

SAGITTARIUS (Nov. 22-Dec. 21): With change comes opportunity. Look around and head in a direction that offers hope for a brighter future. Dwelling on the past doesn’t help promote new beginnings. Invest time, money and experience in building a strong foundation to support your next adventure. Home improvements or a move are favored. ★★★

CAPRICORN (Dec. 22-Jan. 19): Put your cash and possessions in a safe place. Be wary of scammers and unrealistic propositions. Stick to what and who you know and trust. Pay attention to how you present yourself and make physical changes that enhance your confidence. Engaging in talks that lead to long-term plans and promises are in the stars. ★★★

AQUARIUS (Jan. 20-Feb. 18): Putting friendly force behind your voice and the changes you want to implement will make a difference to the outcome. Discipline, hard work and innovative ideas will separate you from any competition you encounter. Take pride in who you are, and your confidence will make you the go-to person among your associates. ★★★

PISCES (Feb. 19-March 20): Peace, love and happiness are the best antidote for getting past unexpected changes that throw you off guard. Don’t dwell on what doesn’t happen; press forward with fortitude and enthusiasm, and you’ll find better opportunities. When one door closes, another will open. Be ready, willing and able to take advantage of whatever comes your way. ★★

BIRTHDAY BABY: You are emotional,

SINGLE AGAIN

SO the celebrity and his young boyfriend, a relationship that resulted in controversy, are said to be no longer together. There is no bad blood between them, according to sources, and there is no major reason for the split. However, the exboyfriend has reportedly been spotted with someone else and there are rumors that he really was looking for someone with a lot of money. The celebrity is wealthy but he does not seem to be the type who would spend a lot of money on a man. The celebrity was in a long-term relationship before he met the young guy, who did not seem to be his type. Clue: He is one of the well-liked celebrities in the business.

ENGAGED?

A controversial influencer is said to be engaged to her actorboyfriend and people are assuming this because she was spotted in a photo wearing what looks like an engagement ring. That’s not really surprising because the influencer and the actor seem to be very much in love. But if they’re are not engaged, the couple seems to be so in love with each other. So many fans hate the influencer because they believe that she “stole” the actor from his well-loved ex-girlfriend but there is no denying that they are in love. The actor seems more amiable and easygoing these days.

GHOSTED

THE socialite ghosted her then-lover after getting a lot of money from him. The lover felt bad but he sort of expected it would happen and even during the relationship, his friends kept warning him about the socialite. They have not talked to or seen each other since the ghosting but now, the socialite realized that she might need to face her ex because they are embroiled in a serious legal matter. The guy is handling it on his end but the socialite is still in hiding because even her partner is hiding from the law.

NO LONGER UNTOUCHABLE

AS an A-list actress, she was untouchable. No one dared to criticize her or point out that she’s had work done on her face to fit today’s beauty standards. Anyone who dared would have been bashed and blacklisted, just like another actress. But these days, the A-lister is fair game for bashers. Even her “face improvements” and other life decisions are being openly criticized by fans. Already a private person, she now guards her privacy even more because people are taking pictures of her even when she isn’t working. Even her rumored romance is not safe from prying eyes as her fans don’t like the guy she is allegedly seeing.

REP TAKES YOUNG AUDIENCES DOWN THE RABBIT HOLE WITH WHIMSICAL ‘ALICE IN WONDERLAND’ MUSICAL

GET ready for a fantastical adventure as Repertory Philippines (REP) presents its latest mind-bending spectacle for all theater enthusiasts: a brand-new musical version of Lewis Carroll’s timeless classic, Alice in Wonderland. This imaginative Repertory Theater for Young Audiences (RTYA) production promises a tuneful, over-the-top entertaining experience for the entire family, which runs from August 23 to December 14 at the REP Eastwood Theater.

Adapted for the stage with music and lyrics by Janet Yates Vogt and Mark Friedman, and directed by RTYA creative director Joy Virata and Cara Barredo, this new take on the beloved story is going to whisk audiences down the rabbit hole into a land filled with zany characters, a mad tea party, flamingo croquet, and tap-dancing playing cards. This spectacular showcase brings together all the colorful characters from Carroll’s cherished books Alice’s Adventures in Wonderland and Through the Looking Glass: the evercurious Alice, the eccentric Mad Hatter, the frantic White Rabbit, the bumbling Tweedle Dee and Tweedle Dum, the clever Caterpillar, the melancholic Mock Turtle, the mysterious Cheshire Cat, and of course the domineering Queen of Hearts. A stellar ensemble of actors has been cast to bring these iconic characters to life. The role of Alice will be shared by Reese De La Vega Iso, Justine Narciso, and Cheska Quimno. The Queen will be played by Cara Barredo, Pinky Marquez, and Mayen Bustamante-Cadd. The musical’s Mad Hatter are Hans Eckstein and Gerhard Krysstopher, while The White Rabbit will be portrayed by Steven Hotchkiss and Gabo Tiongson.

The creative and production team is rounded out by a team of Filipino theater professionals: musical director Phoebe Bitoon, choreographer Stephen Viñas, assistant choreographer and dance captain Deo Dela Cruz, and set designer Lawyn Cruz, among others.

REP’s Alice in Wonderland brings the maddest tea party for the whole family from August 23 to December 14 at the REP Eastwood Theater. Tickets are available at TicketWorld

‘Ketamine Queen’ accused of selling fatal dose to Matthew Perry agrees to plead guilty

By Andrew Dalton The Associated Press

LOS ANGELES—A woman known as the “Ketamine Queen,” charged with selling Matthew Perry the drug that killed him, agreed to plead guilty on Monday. Jasveen Sangha becomes the fifth and final defendant charged in the overdose death of the Friends star to strike a plea agreement with federal prosecutors, avoiding a trial that had been planned for September.

She agreed in a signed statement filed in court to plead guilty to five federal criminal charges, including providing the ketamine that led to Perry’s death.

In a brief statement, Sangha’s lawyer Mark Geragos said only, “She’s taking responsibility for her actions.”

Prosecutors had cast Sangha, a 42-year-old citizen of the US and the UK, as a prolific drug dealer who was known to her customers as the “Ketamine Queen,” using the term often in press releases and court documents.

She agreed to plead guilty to one count of maintaining a drug-involved premises, three counts of distribution of ketamine, and one count of distribution of ketamine resulting in death or serious bodily injury. The final plea deal came a year after federal prosecutors announced that five people had been charged in Perry’s October 28, 2023 death after a sweeping investigation.

Sangha admitted in the agreement to selling four vials of ketamine to another man, Cody McLaury, hours before he died from an overdose in 2019. McLaury had no relationship to Perry.

Prosecutors will drop three other counts related to the distribution of ketamine, and one count of distribution of methamphetamine that was unrelated to the Perry case.

Sangha will officially change her plea to guilty at an upcoming hearing, where sentencing will be scheduled, prosecutors said. She could get up to 45 years in prison. The judge is not bound to follow any terms of the plea agreement, but prosecutors said in the document that they will ask for less than the maximum. She and Dr. Salvador Plasencia, who pleaded guilty last month, had been the primary targets of the investigation. Three other defendants—Dr. Mark Chavez, Kenneth Iwamasa and Erik Fleming—pleaded guilty in exchange for their cooperation, which included statements implicating Sangha and Plasencia.

Perry was found dead in his Los Angeles home by Iwamasa, his assistant. The medical examiner ruled that ketamine, typically used as a surgical anesthetic, was the primary cause of death.

Sangha presented a posh lifestyle on Instagram,

with photos of herself with the rich and famous in cities around the globe. Prosecutors said she privately presented herself as a dealer who sold to the same kind of high-class customers.

Perry had been using ketamine through his regular doctor as a legal, but off-label, treatment for depression, which has become increasingly common. Perry, 54, sought more ketamine than his doctor would give him. He began getting it from Plasencia about a month before his death, then started getting still more from Sangha about two weeks before his death, prosecutors said. Perry and Iwamasa found Sangha through Perry’s friend Fleming. In their plea agreements, both men described the subsequent deals in detail.

Fleming messaged Iwamasa saying Sangha’s ketamine was “unmarked but it’s amazing,” according to court documents. Fleming texted Iwamasa that she only deals “with high end and celebs. If it were not great stuff she’d lose her business.”

With the two men acting as middlemen, Perry bought large amounts of ketamine from Sangha,

including 25 vials for $6,000 in cash four days before his death. That purchase included the doses that killed Perry, prosecutors said. On the day of Perry’s death, Sangha told Fleming they should delete all the messages they had sent each other, according to her indictment.

Her home in North Hollywood, California, was raided in March 2024 by Drug Enforcement Administration agents who found large amounts of methamphetamines and ketamine, according to an affidavit from an agent. She has been held in federal custody for about a year.

None of the defendants has yet been sentenced.

Sangha also agreed in her plea deal not to contest the seizure of her property that went with the investigation, including more than $5,000 in cash.

Perry struggled with addiction for years, dating back to his time on Friends, when he became one of the biggest stars of his generation as Chandler Bing. He starred alongside Jennifer Aniston, Courteney Cox, Lisa Kudrow, Matt LeBlanc and David Schwimmer for 10 seasons from 1994 to 2004 on NBC’s megahit series.

TERENCE STAMP, THE ICONIC STAR OF ‘THE ADVENTURE OF PRISCILLA, QUEEN OF THE DESERT,’ DIES AT 87

LONDON—Terence Stamp, the British actor who often played the role of a complex villain, including that of General Zod in the early died. He was 87.

His death on Sunday was disclosed in a death notice published online, prompting a wave of tributes from an array of fans and those close to him within the industry, including the British Academy of Film and Television Arts, or BAFTA.

The London-born Stamp started his film career with 1962’s seafaring Billy Budd Oscar and BAFTA award nominations.

His six decades in the business were peppered with highlights, including his touching portrayal of the transsexual Bernadette in 1994’s of Priscilla, Queen of the Desert, BAFTA nominations.

Edgar Wright, who directed Stamp in his final feature film, 2021’s Last Night in Soho, the actor in an Instagram post as “kind, funny, and endlessly fascinating.”

“The closer the camera moved, the more hypnotic his presence became. In close-up, his unblinking gaze locked in so powerfully that the effect was extraordinary. Terence was a true movie star: the camera loved him, and he loved it right back,” Wright said. Bill Duke, who starred with Stamp in director

Steven Soderbergh’s 1999 crime drama The Limey, said he was “deeply saddened” to hear of his death.

“He brought a rare intensity to the screen, but off-screen he carried himself with warmth, grace and generosity,” he said on Facebook.

Stamp started his acting career onstage in the late

1950s, where he acted in repertory theater and met Michael Caine, who was five years older than himself. The pair lived together in a flat in central London while looking for their big break.

He got his break with Billy Budd and Stamp embarked on a career that would see him in the early 1960s be part of the “angry young men” movement that was introducing an element of social realism into British moviemaking.

His career took a bit of a hiatus from the late 1960s after he missed out on the role of James Bond to replace Sean Connery, that included a years-long stint in India and which saw him embrace a more holistic approach to his self.

Born in London’s East End on July 22, 1938, Stamp lived a colorful life, particularly during the 1960s when he had a string of romances, including with actress Julie Christie and model Jean Shrimpton. He married 29-year-old Elizabeth O’Rourke in 2002 at the age of 64 but the couple divorced six years later. Stamp did not have any children. Stamp retained his looks as the years ticked by, his natural handsomeness hardened by a more grizzled look. He generally sought to keep his standards high—to a point.

“I don’t do crappy movies, unless I haven’t got the rent,” he said. AP

Okada Manila announces leadership transition

Tiger Resort, Leisure and Entertainment, Inc. (TRLEI), the operator of Okada Manila, announces a significant leadership transition.

Marking seven years of dedicated service, President and Chief Operating Officer Byron Yip is concluding his tenure to embark on the next chapter of his career, while continuing to oversee daily operations and supporting the leadership transition through September 2025.

Effective September 15, 2025, Nobuki Sato, Senior Executive Officer and Chief Financial Officer of Universal Entertainment Corporation (UEC), will assume the role of President and Chief Operating Officer. Sato, who has sat on the TRLEI Board of Directors since March 2023, brings over 20 years of extensive leadership experience in hospitality, finance, and strategic operations.

“Byron Yip’s leadership has been

instrumental in establishing Okada Manila as a leading destination in the region, exemplified by our achievement of the Forbes 5-Star rating—the largest Forbes 5-star Integrated Resort in the Philippines to receive this distinction for the sixth consecutive year and the successful execution of key expansion initiatives,” said Tomohiro Okada, Representative Director and President of Universal Entertainment Corporation.

“We extend our heartfelt appreciation

JuanHand Partners with ECPAY for Seamless Payment Accessibility

Jfor Byron’s contributions and are pleased that he will continue to support the organization to ensure a seamless transition. We are confident that Nobuki Sato’s proven expertise in operational and financial management will guide Okada Manila into its next phase of strategic growth and innovation.”

This leadership transition reflects the company’s ongoing commitment to operational excellence and long-term value creation.

Miming

MIMING and Friends, the beloved animated YouTube miniseries, has released its fourth episode, continuing its journey of educating children and families about environmental sustainability through songs and animated characters. Miming and Friends is a collaboration between Mondelēz International in the Philippines, and husband-and-wife tandem, Ramon del Prado and Meryll Yan, the local animated content creators behind the Miming and Friends YouTube channel. The series is dedicated to promoting sustainable snacking and responsible waste management practices through engaging and educational content. Partnered with the latter is Save Philippine Seas (SPS), a non-profit organization dedicated to conserving coastal and marine resources for collective action and behavior change.

The latest episode tackles the pressing issue of waste mismanagement and its relationship with climate change, bringing the characters together to learn about greenhouse gases and their impact on the world.

“Episode 4 touches into the critical topic of climate change,” said Miming and Friends co-creator, Meryll Yan. “We believe that by understanding the causes and effects of greenhouse gases, we can empower the next generation to become proactive environmental stewards.”

The episode also introduces a new character, one who has a lot to say about

greenhouse gas emissions and where they come from. Named Ghregoryo, the character is painted as a villain and has a very compelling song in the episode, which hopefully shines a light on the importance of individual actions.

“This episode dives into how our choices can affect the ocean and our climate in many unexpected ways,” explained Anna Oposa, Chief Mermaid and Executive Director of SPS. “We hope to help the youth connect their everyday actions like energy consumption or accumulating too much waste to the larger issue of greenhouse gases and the urgent need for responsible stewardship.”

“This newest adventure on greenhouse gases reminds us that building a sustainable future is a shared responsibility, and that everyone has a role to play,” shared Caitlin Punzalan, Corporate and Government Affairs Lead at Mondelēz International in the Philippines. “We are proud to engage with communities across the Philippines and inspire collective action towards a healthier planet.”

Since the release of Episode 3 in 2024, the channel has experienced consistent growth, climbing to over 42,800 total subscribers. This surge in viewership and engagement reflects the series’ ability to resonate with kiddie and family audiences and its effectiveness in delivering important messages about environmental stewardship.

Mondelēz International has been instrumental in supporting the series,

aligning with their commitment to sustainability and waste management. Through the adventures of anthropomorphic cat-fish Miming and her friends, the series aims to inspire young viewers to take action and make a positive impact on the environment.

“At Mondelēz International, we believe that #SustainableSnacking starts at home,” adds Punzalan. “Miming and Friends provides a creative platform for reaching the right audiences with engaging content that inspires real and sustainable change. Sustainability can sometimes seem complex, especially for children. We want to help break down these concepts to show how our daily actions can have a positive impact.”

Beyond the success of the series, Mondelēz International also achieved key sustainability milestones, including the receipt of Plastic Credit Exchange’s (PCX) Plastic Cleanup Partner seal, recognizing the company’s efforts to not only meet but exceed the Extended Producers Responsibility (EPR) law requirement of collecting post-consumer plastic packaging. Through its partnership with waste diverters, the company collects the equivalent weight of the plastic packaging it uses for its snack products and ensures this is diverted through recycling and other means to avoid being marine litter or landfill.

Watch the latest episode of Miming and Friends through this link: https:// youtu.be/0iGoRQU_yGY?feature=shared.

UANHAND has partnered with Electronic Commerce Payments (EC PAY) Inc., or ECPAY, a leading payment solutions provider, to enhance its services and offer customers faster, more convenient transactions. JuanHand now has access to ECPAY’s extensive payment network, enabling effortless transactions for users.

A key feature of this collaboration is the integration of JuanHand as a direct biller within the GCash app, allowing customers to pay for JuanHand services directly through GCash. Starting this August, JuanHand users can just open their GCash wallet, click on the “Bills” icon, search or type in JuanHand, and they can already pay right away. It’s that easy. Transactions are processed in real time, ensuring instant posting and a hassle-free experience.

This partnership not only simplifies transactions for JuanHand users but also expands its reach to millions of GCash

subscribers. By leveraging ECPAY’s robust payment infrastructure, JuanHand continues to innovate, providing efficient and reliable financial solutions for its growing customer base.

Streamlined Customer Experience is at the core of JuanHand’s operations. With the ECPay partnership, JuanHand reinforces its commitment to providing safe, convenient, and accessible digital payments.

JuanHand is operated by WeFund Lending Corp., which has already disbursed over P55 billion in loans and currently has over 15 million registered users. It’s easy to use a loan app with just one valid ID, and a five-minute loan approval process provides quick financial assistance to Filipinos nationwide. The partnership between JuanHand and ECPay demonstrates a strong commitment to financial accessibility, with both companies continue to pave the way for a more financially inclusive future. NOVO NORDISK PHILIPPINES, DOCTOR ANYWHERE PHILIPPINES PARTNER TO COMBAT OBESITY. Novo Nordisk Philippines and Doctor Anywhere Philippines recently formalized their partnership to strengthen the fight against obesity in the country. The collaboration brings together Novo Nordisk’s global leadership in chronic disease management with Doctor Anywhere’s expertise in telehealth, digital healthcare delivery, and personalized chronic care solutions. Together, they aim to raise awareness, educate communities, and provide accessible, tech-enabled care for people living with obesity. The partnership also seeks to empower both healthcare professionals and the public with tools and support to manage the disease effectively. Photo shows, from left, Geraldine Perez, Novo Nordisk Philippines Market Access & Business Development Director; Wei Sun, Novo Nordisk Philippines General Manager; Jerome Sebastian, Doctor Anywhere Philippines General Manager; and Dr. Zetch Cruz-Ram, Doctor Anywhere Philippines Medical Director.

OUR flight is booked. The outfits are curated. The itinerary is dreamy. Now all you need? Travel gear that looks as good as you do and does good for the planet, too. Whether you’re packing for a weekend getaway or a long-haul escape, your travel essentials deserve the same attention as your wardrobe. Enter Travel Sentry® Accessories, the new go-to for eco-conscious jetsetters who want to explore

In the photo are, from left, Francisco “Coco” Mauricio, President and CEO of WeFund Lending Corp.; and Ma. Patricia D. Pascual, President and CEO of ECPay.

Editor: Tet Andolong

Luxury segment contributes in property rebound

By Rizal Raoul S. Reyes @brownindio

THE luxury market is leading the rebound of the residential market as the share of launches of upscale to luxury condominium units is increasing in Metro Manila.

According to Colliers Philippines research director Joey Roi Bondoc, more developers are now tweaking their strategies and recalibrating.

Furthermore, he said a lot of of developers right now have been implementing ready-for-occupancy promos, more innovative, more attractive ready-for-occupancy promos being launched left and right because there is a huge inventory of condominium units in the market still to be absorbed or sold or be leased by residents and investors.

“So let’s see how this will fare over the next few quarters. But what really stands out is that the demand for condominium units outside of Metro Manila, especially horizontal house and lot, not only these property segments continue to grow, especially outside of the capital region,” Bondoc explained.

Colliers Philippines reported that 1,400 of new condominium units were completed in the second quarter of

this year with projects mainly from Ayala Land, Premier Alveo, as well as Federal Land. “We did not see a single condominium unit being turned over in the Bay Area,” Bondoc said. Bondoc said the market would be expecting 7,200 new units for the remainder of the year. Seventy percent of those condo units will be coming from a single location—Bay Area.

SM enters the high-end market

MEANWHILE , SM Prime Holdings, Inc through its premium Signature Series by SM Residences, is set to transform its large tract of land in Susana Heights, Muntinlupa.

Situated on 284 hectares of prime land, Susana Heights has long been admired for its accessibility, natural surroundings, and strategic location. The Signature Series developments will elevate the area’s appeal, introducing a thoughtfully designed masterplanned community that seamlessly

integrates residential, commercial, and civic spaces. It aims to deliver a lifestyle that is dynamic yet serene, purposefully curated for discerning homeowners seeking refined living. With an initial P25 billion capital expenditure, this milestone project marks the beginning of a remarkable renaissance for a community beloved since the 1970s. The investment is in -

Eton Properties launches ‘Beyond Green’ with outreach to children, seniors, and shelter animals

ETON Properties officially launched its long-term sustainability movement, Beyond Green, with a recent heartfelt outreach activity in celebration of Nutrition Month. Through coordinated visits across Metro Manila, Quezon City, and Laguna, the company extended care to children, senior citizens, and rescued animals. The activity marked the beginning of a renewed purpose to build with empathy and give back with intention.

Employees from different departments supported the effort, whether by joining the outreach on-site or contributing goods. While not everyone could physically participate due to logistical constraints, the initiative reflected a shared spirit of compassion and community support across the organization.

Fresh produce and essential supplies were distributed to three partner organizations. Most of the produce came from farmers supported by the Tan Yan Kee Foundation, the corporate social responsibility arm of the Lucio Tan Group. Additional harvests were contributed by Eton’s own Sustainable Garden at Eton City. The gesture brought together environmental awareness and community nourishment in a meaningful way.

“Beyond Green isn’t just a CSR project. It’s a commitment,” said Donna Kristine Salgado, AVP for Marketing, PR, and Corporate Communications, and Lead Sustainability Officer at Eton Properties. “It reflects the kind of real estate we believe in—one that builds not just spaces, but relationships, responsibility, and real impact. This launch is just the beginning of something deeper, a continuing promise to support the communities around our developments.”

A safe space for children who have experienced abuse, neglect, or abandonment, Bahay Tuluyan welcomed Eton volunteers with warmth. Fresh produce and essential supplies were turned over to help sustain the organization’s day-

to-day operations, reinforcing the importance of consistent, tangible care.

At DSWD GRACES, home to more than 200 senior citizens, volunteers spent time listening, sharing stories, and showing presence. They provided food and essentials to assist with the daily needs of residents and caregivers.

Second Chance Aspin Shelter: Supporting Animal Welfare

THIS shelter houses more than 60 rescued dogs and cats. Eton volunteers brought food and hygiene supplies, while also spending time with the animals—many of whom are still waiting for their forever homes.

These partner organizations are located in the same cities and communities where Eton developments stand. From Quezon City to Manila to Laguna, the outreach reflected a deeper intention: to give back to the people and places surrounding the company’s projects and teams.

Beyond Green is Eton’s ongoing sustainability platform. It combines community engagement, environmental care, and inclusive giving under one clear goal: to create meaningful impact beyond property lines. Earlier initiatives this year included:

n Brigada Eskwela 2025— Nearly 200 volunteers helped clean, repair, and revitalize public schools in Laguna, Quezon City, and Manila in time for the new academic year.

n TITOlympics at Centris— A wellness and mental health event for men that used nostalgic Filipino games to connect, uplift, and raise awareness.

n Bahay Liwanag Turnover— Four new homes were turned over to families in Nueva Vizcaya, offering not just shelter, but new beginnings.

n Earth Hour 2025— With a lights-off campaign that promoted mindfulness and eco-promises.

n DENR’s “Trash Talk” Partnership— Encouraging proper waste segregation and environmental awareness across Eton-managed properties.

As Eton marks its 18th year, it continues to embrace the message of its anniversary campaign, Beyond18, and the launch of Beyond Green. These initiatives represent a forward-facing purpose that looks beyond business and toward deeper connection and contribution.

Because in between the foundations and floors, what really matters is what gets built in people’s hearts.

Eton Properties Philippines, Inc. (EPPI) is the real estate brand of the Lucio Tan Group, one of the largest business conglomerates in the Philippines. EPPI’s portfolio includes residential communities, office developments, commercial centers, and mixed-use townships across key locations nationwide.

tended to develop residential clusters, neighborhood retail, civic spaces, and pocket parks—offering a rare combination of exclusivity, lush greenery, and seamless accessibility. Within this vibrant community, an ultra-luxury village is also being planned.

“Susana Heights, in my opinion, really needs no introduction. It’s a property people have known for generations,” said Jose Juan Jugo, Executive Vice President and Signature Series Group Head. “It’s been there, brewing, appreciating in value, and now we are unlocking its full potential. It is a very powerful address, and there is no other parcel of land this size and this scalable in Metro Manila that is going to be developed from scratch.”

“You have access to all the key highways here,” Jugo continued. “It’s

an address people will feel proud to pass on to the next generation.”

The Signature Series will have a range of residential products—entry-level premium at P15 million designed for property upgraders, young executives, and starter families; upscale at P25 million for established professionals and affluent families; and luxury and ultra-luxury at P65 million and above for high-net-worth individuals and legacy families.

The pilot luxury project will be in Susana Heights in Muntinlupa City, which the company is looking to sell at an entry level of P100 million for residential lots that will be at least 700 to 750 square meters.

An extremely challenging market ESTABLISHING a new luxury brand is extremely challenging, even for a

company with the financial strength of SM, according to KMC Solutons cofounder Michael McCullough.

“To ensure success in the highend residential market, I would recommend partnering with a wellestablished international luxury brand. This collaboration can lend immediate credibility, elevate brand perception, and attract a discerning clientele,” he told the BusinessMirror in an email interview.

While there is definite demand in the high-end home segment, McCullough said it remains limited and highly selective. Though sales volumes are naturally smaller, he said introducing more accessible mortgage products—particularly with 15- to 20-year payment terms—could help broaden the buyer base without compromising exclusivity.

BASE Cement-Bamboo Frame Technology Homes, built for resilience through the typhoon season

MANILA, Philippines—With an average of 20 typhoons each year, the concept of “home” for many Filipinos goes beyond shelter. It is a source of comfort and represents safety and security. With Base Bahay Foundation’s (BASE) Cement-Bamboo Frame Technology (CBFT), homes are becoming powerful symbols of resilience, enabling us to build better and smarter.

Building homes is building hope for every family USING CBFT, BASE has built over 2,000 homes, empowering over 10,000 individuals with safe and sustainable homes. One of the first projects is in Jaro, Iloilo, in partnership with the Homeless People’s Federation.

For Helen Villarin, a community worker and a beneficiary living in the housing project, her CBFT home gives her peace of mind during life’s most uncertain moments.

“We have been living in our home since 2019, and I feel that we are safe living here, especially during times like this when there are storms,” Helen shares. “I know that our house is sturdy because it doesn’t shake or move, no matter how strong the wind is outside. Now that storms keep coming one after another, I’m confident that we are safe.”

Like Helen, Richard Gerafusco, who lost his previous home to a fire, found not just a new house but a renewed sense of security.

“Our bamboo house is very safe.

It is beautiful and truly a safe place to live in,” he said.

These are just two of thousands of families whose lives have been transformed. Their new home represents a new beginning.

CBFT as an affordable and sustainable alternative in construction

THE Philippines topped the World Risk Index in 2022, indicating that the country is exposed to various climate challenges with limited coping mechanisms. With 60 percent of homes informally built and vulnerable to disaster, this indicator makes rebuilding more difficult for low-income families.

BASE’s CBFT breaks that cycle. Developed using bamboo, a local and renewable resource, these homes meet the maximum windspeed and magnitude specified in the National Structural Code of the Philippines (NSCP).

Apart from its durability, houses built using this technology are also affordable and a good alternative for private and government institutions, as well as the housing sector, to utilize because it can be constructed in six (6) weeks.

“With CBFT, we are redefining resiliency, especially in times of disasters,” says Engr. Luis Felipe Lopez, BASE General Manager. “At BASE, we believe resilience is about building smarter and building for the future.”

With this technology, families no longer need to constantly rebuild after disasters, as CBFT is designed to

withstand such calamities.

Empowering communities with sustainable livelihoods THE innovation goes beyond construction. BASE supports the local economy by empowering farmers, workers, and builders. With partnerships across nine (9) independent bamboo supply and treatment facilities, and through the Bamboo Academy Program, BASE is shaping a new generation of skilled builders, architects, and engineers. To further position bamboo in the mainstream construction, BASE is working closely with the Association of Structural Engineers of the Philippines (ASEP) to integrate bamboo into the NSCP, laying the groundwork for an inclusive use of bamboo in the built environment.

BASE also positions the Philippines on the global map for bamboo, as it supports other countries in the development of their own bamboo building code, standards, and guidelines.

Build beyond today INITIATED by the Hilti Foundation in 2014, BASE has saved over 35,000 tons of CO2, proof that climate action, affordability, and social impact can go hand in hand.

Celebrating its 11th year, BASE believes that resilience is more than weathering the storm. It is about building forward and shaping a resilient and empowered future deeply rooted in the strength of the Filipino spirit.

AN artist’s perspective of Susana Heights entrance.

AN artist’s perspective of Signature’s clubhouse

JOSE JUAN JUGO

B8 Wednesday, august 20, 2025

Espejo realizes he can’t coast for Alas Pilipinas Sports

By Aldrin Quinto

ALTHOUGH still arguably top of mind in Philippine volleyball, Marck Espejo sees himself as an equal in a talent-rich pool vying for spots on Alas Pilipinas for the FIVB Volleyball Men’s World Championship.  In fact, Espejo admits he has some ground to cover three weeks before first serve in the elite 32-nation meet set September 12 to 28 at the SM Mall of Asia Arena and Smart Araneta Coliseum.

“I’m taking it day by day, training by training, as I work to catch up with the team after coming back from injury,” said Espejo from Santo Tirso, a northern city in Portugal, on Monday.

The 28-year-old Espejo, who sustained an ankle injury in June during the 2025 AVC Men’s Volleyball Nations Cup in Bahrain, noted the team is taking shape just in time for the world meet bannered by No. 1 and Volleyball Nations League titleholder Poland, defending world champion Italy, No. 3 Brazil and seventh-ranked Slovenia.

The 21-member Alas Pilipinas pool is now in Portugal, the last of a three-leg international training stint, and will be trimmed to 14—two of them reserves—for the world championship.

“It’s well-balanced team [Alas] for long-term growth,” Espejo said. “We have experienced veterans and kuyas who provide leadership, and younger players with fresh legs and a lot of energy.”

Bryan Bagunas, the other half of a veteran duo providing Alas Pilipinas a deadly combination of firepower and game sense, is also being eased into the rotation after a knee injury that kept him out for a year.

Alas Pilipinas showed cohesion in winning two of three tuneup matches against the Moroccan national team, world-ranked No. 81, and Espejo is convinced that with the pool, featuring Owa Retamar, Kim Malabunga, Jack Kalingking, Eco Adajar, John Michael Paglaon, Elijah Tae-Yin Kim,, Peng Taguibolos, Lloyd Josafat, Lucca Mamone, Louie Ramirez and Steven Rotter, the Philippine National Volleyball Federation has come up with a potent long-term development team.

The Philippine team also earned a set in a loss to world championship-bound Romania, ranked No. 22, in their tune-up match ahead of the world meet backed by PNVF Official Partners PLDT, Mwell, Meralco,Rebisco, Akari, Nuvali, PNVF official suppliers Asics, Senoh, official ball Mikasa, official television partner Cignal, Honda, BMW, and supported by the Philippine Sports Commission and Philippine Olympic Committee.

A lso proving their worth in the training camps, which had stops in Morocco and Romania, were Ike Andrew Barilea, Kennedy Batas, JP Bugaoan, Vince Lorenzo, Leo Ordiales, Buds Buddin, Josh Ybañez, Jade Disquitado and Lucca Mamone.

W ith these young stars in the mix, Espejo realizes he can’t coast as he looks to earn the right to play in the world championship in front of home fans.

“I will take this challenge seriously and give my very best,”

Espejo said. “But I’m excited, right now we’re focused to bring out the team’s full potential. We’re enjoying the camp, playing against top teams, and learning a lot.”

Alas Pilipinas plays in the opener at the MOA Arena against world No. 42 Tunisia before taking on world No. 23 Egypt on September 16 and No. 13 Iran on September 18.

T ickets are available via the official website www. philippineswch2025.com

“It’s a huge honor and opportunity to be part of the world championship—playing for your country feels different from playing for your club,” he said. “I’ll make the most out of it because this is a once in a lifetime experience.”

Bagunas and Espejo, together with Retamar, Malabunga and Kalingking were part of the squad that earned silver in the 2019 Southeast Asian Games.

Espejo, who earlier this year returned to the local circuit after pro stints in Japan, Bahrain, Thailand and South Korea, is thrilled with the chance to play for flag and country again, this time on the world stage.

“This is a huge opportunity, not just for me, but for the growth of men’s volleyball in the Philippines, I won’t take this opportunity for granted,” he added.

Dungca on track to snatch last ticket to Junior PGT Elite Finals

RONEE DUNGCA moved closer to make the main stage from the backdoor after posting a three-over-par 72 for a commanding lead in the girls’ 7-10 division of the International Container Terminal Services Inc. Junior Philippine Golf Tour Luzon Series at the Camp John Hay JPGT Championship in Baguio City on Tuesday.

P laying under overcast skies and a cool breeze that added another layer of challenge to the already tricky par-69 layout, Dungca rode the momentum of her back-to-back victories at Riviera and Pradera Verde to solidify her late charge for one of four berths to the Elite Junior Finals.

The rising star from Angeles City birdied the first three holes, but struggled to maintain rhythm on the tight, hazard-laden course.

Dungca closed with a 34-38 round she highlighted by four more birdies and offset by three bogeys, two double bogeys and a triple-bogey on the parthree No. 4 which blunted her torrid start in the 36-hole tournament.

“The course is tough, so I had to stay focused to keep making birdies,” said Dungca, 9, playing the challenging upand-down layout for the first time. She admitted to losing her confidence after a few early mistakes. “But I started getting it back and made a good recovery,” she said.

“I st ill need to work on my putting, but I’m feeling a little more confident,” she added. Still, her 72 was more than enough to seize control of the 36-hole event, building a massive eight-shot cushion over Tyra Garingalao (80), with Amiya Tablac (83) in third and Venus delos Santos at fourth with 92. M issing the first four legs of the seven-stage Luzon swing virtually ruled Dungca out of the finals conversation, but victories at Riviera and Pradera Verde, thrust her right back into contention. Now holding 30 points, she stands tied for fifth with Penelope Sy in the standings—another win here would give her 45 points, enough to potentially match current leader Mavis Espedido.

With only the top three scores of each player in the series counted for qualification, the final round looms large for several contenders—a win earns 15 points, followed by 12, 10 and 8 points for the next top finishers.

W inter Serapio (37 pts), de los Santos (34) and Garingalao (32) remain very much in the race, making Wednesday’s final round a decisive showdown.

Z oji Edoc also stayed on track for a third straight title, shooting a twoover 71 to take a three-shot lead over local bet Marco Angheng (74) in the boys’ youngest division.

an abundance of centers

‘Energizer

Bunny’ sightings at PSC: An everyday thing

ENATOR Christopher “Bong” Go

Shas filed Senate Bill No. 678 at the start of the 20th Congress which seeks to establish the National Tertiary Games (NTG) as the country’s multisport collegiate tournament.

Go expressed optimism that the NTG would provide a structured platform for student-athletes from state universities and colleges and private universities and colleges to showcase their athletic abilities.

“The NTG will serve as a bridge from the Palarong Pambansa and the

Go for National Tertiary Games

Philippine National Games (PNG) which serves as the country’s premier national sports competition,” Go said.

The Palarong Pambansa is a national multi-sport tournament organized by the Department of Education involving student-athletes at elementary and secondary levels, while the PNG is a multisport tournament held to determine the possible national pool athletes that will compete in the Southeast Asian Games, Asian Games and the Olympics.

T he NTG shall serve as the country’s collegiate sports competition

providing a platform to discover potential student-athletes who can become national and elite athletes.

SBN 678, o therwise known as the proposed “National Tertiary Games Act of 2025,” if enacted, would establish the NTG held once every year organized by the Commission on Higher Education (CHED).

“The institutionalization of the NTG provides a vital link in the national sports development ladder, ensuring continuity and progression in the athletic careers of the Filipino youth,” Go explained.

TBy Josef Ramos

Go , who has consistently championed grassroots sports initiatives, emphasized that giving young athletes opportunities at the grassroots level ensures they have a fighting chance to succeed, both in sports and life.

“The NTG aims to strengthen grassroots development and contribute to the national sports agenda by identifying and honing young athletes with the potential to become part of the national teams and compete in elite and international competitions,” Go said.

PFF head: We’ll make an impact

THE Philippines aims to put on a great show when it hosts the inaugural FIFA Futsal Women’s World Cup, but also eyes to give some of the world’s best teams a run for their money.

Philippine Football Federation (PFF) president John Gutierrez announced during the Philippine Sportswriters Association Forum on Tuesday that everything is rolling with 93 days to go before one of FIFA’s four major events officially kicks off at the PhilSports Arena in Pasig City and the Victorias City Coliseum in Negros Occidental. We are on time with all of the preparations. We have been closely

University to its second UAAP crown in four years last year. But because he was called one-and-done—meaning, he was only eligible for one season with the Maroons—he would next find himself playing elsewhere. The last time was in Macau. However, QMB, born in the USA and who turned 25 last August 9, has this lifelong dream of joining Gilas Pilipinas. His parents also want him to represent the Philippines in overseas battles. I am almost sure the “Millora” in QMB’s name has roots in my home province of Pangasinan. While growing up in my town of Mangatarem, I vividly remember a prominent Pangasinense, former Assemblyman Vicente “Vic” Alfonso Millora. I think he was from Dasol, Pangasinan.      A nyways, QMB has become a clubhouse talk after hitting the sports headlines last week for having been transformed from naturalized Filipino to Filipino local by the FIBA (World Basketball Federation).

working with FIFA,” Gutierrez told the forum at the Conference Hall of the Rizal Memorial Sports Complex. “We’ve been meeting almost every day, updates on certain developments like venues getting them up to par with FIFA standards. It’s looking good for us.”

sabella “Belay”

That’s as huge as Sofronio Valdez crowning himself the American Idol only a while back, becoming the first Filipino, and Asian for that matter, to achieve the feat. That means QMB is now qualified to join Gilas Pilipinas, making coach Tim Cone’s squad teeming with skyscrapers.  K ai Sotto is 7-foot-2, June Mar Fajardo 6-foot-11, AJ Edu 6-foot-10 and now QMB also at 6-foot-10.  Include the 6-foot-9  Japeth Aguilar

Editor: Jun Lomibao

MARCK ESPEJO (sixth from left) and teammates (from left) Bryan Bagunas, Louie Ramirez, Lloyd Josafat, Vince Lorenzo, Peng Taguibolos and Jade Disquitado, who looks undecided as he looks at the rack, get some snacks during a brief stopover in the five-hour bus ride that took them from the city of Piatra Neamt to Romania’s capital Bucharest to take a flight for Portugal during the weekend. PNVF COMMUNICATIONS PHOTO

Shaina shines for Lady Falcons Shaina Nitura is back at Adamson University following a whirlwind tour of duty with the Alas Pilipinas Women and posts an all-around brilliance with 18 points on 16 attacks and two aces with eight excellent receptions and seven excellent digs