BusinessMirror August 28, 2026

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‘RATE HIKE PHL SHIELD VS. EL NIÑO, INFLATION’ www.businessmirror.com.ph

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Friday, August 28, 2026 Vol. 21 No. 318

P25.00 nationwide | 2 sections 28 pages | 7 DAYS A WEEK

PHL seen missing growth targets

By Andrea E. San Juan

HE Monetary Board raised its key interest rate by 25 basis points for the third time in a row, this time as a “preemptive move” against the threat of El Niño which could worsen in the fourth quarter and drive up food prices. Aside from the El Niño event, the Monetary Board, the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP), said it also took into account the risk

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of further wage increases in its policy action. The policy move of the MB on Thursday brought the BSP’s Target See “Inflation,” A2

NEW PSA INDEX GOES BEYOND INCOME IN MEASURING POVERTY By Justine Xyrah Garcia

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NEW measure from the Philippine Statistics Authority (PSA) showed that a substantial number of Filipinos remained “multidimensionally poor” in 2024. The agency’s newly released Multidimensional Poverty Index (MPI) showed that 12.8 percent of Filipinos were multidimensionally poor, equivalent to roughly 14.4 million people based on the country’s 2024 population. The MPI measures poverty through deprivations in education, health and nutrition, housing, water and sanitation, and employment. Education accounted for the largest share of multidimensional poverty at 40.7 percent,

followed by housing, water and sanitation at 31.3 percent, health and nutrition at 18.5 percent, and employment at 9.5 percent. Among the 17 indicators, educational attainment and housing materials each had a 10.7 percent censored headcount ratio, the highest among the indicators. The PSA also found that some forms of deprivation were widespread across the population, including among people who were not classified as multidimensionally poor. Housing-material deprivation affected 38.7 percent of Filipinos, the highest among the indicators. This was followed by lack of internet access at 26.4 percent, sanitation or toilet facility deprivation at 24.1 percent, ownership of assets at 21.8 percent, and See “Poverty,” A2

A SONG FOR MARRA, A LIFE IN WORDS 2024 Gawad CCP Para sa Sining awardee Jose “Pete” F. Lacaba sings the final part of Kulay Rosas, his Filipino translation of La Vie en Rose, during a tribute for his wife, acclaimed poet, essayist and journalist Marra PL. Lanot, on Wednesday night, August 26, 2026, at St. Peter Chapels in Commonwealth, Quezon City. Marra, who passed away on August 16 at 82, spent a lifetime in poetry and letters. She was among those present when the Philippines Graphic was revived in June 1990, with National Artist for Literature Nick Joaquin as its first editor-in-chief. She and Lacaba were among Joaquin’s protégés during the publication’s early years. She later became Literary Editor of the Philippines Graphic Reader, the literary companion of the Philippines Graphic, and authored 16 books. A Palanca awardee, Catholic Mass Media Awardee and Balagtas awardee, Marra represented the Philippines at major international literary festivals, and her poetry was translated into several languages. BERNARD TESTA

GLACIER COLLAPSE UNLEASHES CATASTROPHIC FLOODS IN NEPAL, TIBET Rescue teams searched Thursday, August 27,

for hundreds of people missing after a catastrophic torrent of floodwater and mud swept through communities along the Nepal-China border a day earlier. The disaster left at least 168 people dead and more than 1,300 missing in Nepal and Tibet, including foreigners and pilgrims, while displacing hundreds across the Himalayan region. The flash floods destroyed homes and bridges, buried vehicles and damaged dozens of bridges and nearly 40 kilometers of roads, hampering rescue operations. Nepal’s army rescued more than 100 people by helicopter Thursday, while relief operations expanded in flood-hit communities. The US Geological Survey determined that the seismic event initially reported as an earthquake was instead a magnitude 5.2 glacier collapse. Climate experts said an avalanche from a glacier likely triggered the exceptionally fast and powerful flood wave, with water levels in the Trishuli River rising as much as 9 meters 30 minutes. The Associated Press photographs show the devastation in Nuwakot district, where residents search for missing relatives, survivors are brought to safety and rescuers clear mud and debris from affected communities. NIRANJAN SHRESTHA / AP

HE Philippine government is expected to miss its growth targets anew, with the Asean+3 Macroeconomic Research Office (Amro) further cutting its outlook for the country for 2026 and 2027. Amro on Thursday lowered its growth forecast for the Philippines to 3.4 percent in 2026 from 4.1 percent previously, and to 4.8 percent in 2027 from 5.5 percent. If realized, both forecasts would fall short of the Development Budget Coordination Committee’s (DBCC) recalibrated growth targets of 3.5 percent to 4.5 percent for 2026 and 5 percent to 6 percent for 2027. The DBCC has yet to hit any of its annual growth targets since the start of the Marcos administration. Amro Mission Chief Jinho Choi said the Philippines is facing two shocks: an external, supply-driven shock and a domestic demand shock. These have contributed to the economy’s slowdown for four consecutive quarters through the second quarter of 2026. “This year’s growth will be mainly made by weaker private consumption amid higher inflation and sharp contraction in public investment,” Choi said during a media briefing. Official data showed that GDP growth slowed for four consecutive quarters, from 3.9 percent in the third quarter of 2025 to 3 percent in the fourth quarter. Growth eased further to 2.8 percent in the first quarter of 2026 and 2.3 percent in the second quarter. Choi said the economy could still draw support from a gradual recovery in public construction and strong exports, which is expected to grow by around 10 percent this year, in the second half. Amro Chief Economist Dong He, meanwhile, said the recovery in public investment will be critical to strengthening domestic demand and supporting growth. “Public construction has to accelerate in order for domestic demand to be stronger to even achieve the 3.4 percent forecast we have,” He said. In the medium-term, He said the Philippines needs to build more resilient infrastructure, improve the affordability and reliability of electricity, and strengthen its capacity to withstand See “Growth,” A2

PESO EXCHANGE RATES n US 61.5820 n JAPAN 0.3867 n UK 83.7515 n HK 7.8566 n CHINA 9.1595 n SINGAPORE 48.4516 n AUSTRALIA 44.1912 n EU 71.7800 n KOREA 0.0445 n SAUDI ARABIA 16.4022 Source: BSP (August 27, 2026)

News

BusinessMirror

A2 Friday, August 28, 2026

Growth…

Continued from A1

climate-related shocks to attract more foreign direct investment. “All these would help the economy to start a path of higher median term growth,” He said. He said, however, that it was too early to determine whether the Philippines could return to its targeted growth path by 2028, as this would depend on developments in 2026 and from 2027 onward.

Inflation seen easing

MEANWHILE, Amro also lowered its inflation forecasts for the Philippines to 5.4 percent in 2026 from 5.7 percent previously, and 3.8 percent in 2027 from 4.1 percent. If realized, inflation would return to within the Bangko Sentral ng Pilipinas’s 2 percent to 4 percent target range by next year. Choi said the revisions reflected recent developments in both headline and core inflation in July, as well as milder expectations for global oil prices. Philippine headline inflation eased to 6.2 percent in July from 6.4 percent in June, while core inflation slipped to 4.2 percent from 4.4 percent. Average headline inflation stood at 5 percent from January to July. “We don’t know whether this is a big down or is going to be a temporary modulation,” Choi said, noting that uncertainty remains over the Middle East conflict and its potential impact on global oil prices. He said Amro’s latest forecast incorporates milder oil-price assumptions, but risks remain on the upside given the uncertainty surrounding the conflict. Justine Xyrah Garcia

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Peso hits new record low on drought fears, Iran war By Andrea E. San Juan

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HE Philippine peso slumped to a new record low of P61.888 against the dollar on Thursday after the central bank raised its inflation forecasts for 2027 and 2028 due to risks seen from a strong El Niño drought. Data from the Bankers Association of the Philippines (BAP) showed the peso closed at P61.888 against the dollar on Thursday, 23.8 centavos weaker than its previous finish of P61.65 on Wednesday. Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation (RCBC) indicated that the local currency weakened “after higher BSP

Poverty…

Continued from A1

educational-attainment deprivation at 20.2 percent. These are uncensored deprivation rates, which cover all Filipinos experiencing a particular deprivation regardless of whether they are classified as multidimensionally poor. The censored headcount ratio, meanwhile, counts only those who are both deprived in a particular indicator and classified as multidimensionally poor.

inflation estimates for 2027 and 2028 due to risk of higher inflation due to possible strong El Niño drought and wage hikes.” Ricafort said, however, that weakness of the peso may have been offset by the latest 25-basis-point (bp) hike delivered by the Bangko Sentral ng Pilipinas (BSP) during its monetary policy meeting on Thursday, bringing the key interest rate to 5 percent. For his part, Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said the peso weakened to 61.888 after the greenback strengthened anew on “Middle East worries.” “Despite the 25-bps BSP rate hike, the peso is likely to trade within the 61.60-62.00 range, with geopolitical

For instance, while 38.7 percent of Filipinos were deprived in housing materials, 10.7 percent were both deprived in housing materials and multidimensionally poor. The PSA reported an MPI of 0.045 and an average deprivation intensity of 34.7 percent at the individual level. This means that among those classified as multidimensionally poor, the average share of weighted indicators in which they were deprived was 34.7 percent. At the household level, the MPI headcount ratio was 12.4 percent, with an MPI of 0.042 and deprivation intensity of 33.9 percent. The MPI uses 17 indicators across four dimensions.

risks continuing to drive sentiment. Stay tuned,” he added. China Banking Corporation (Chinabank) Group Chief Economist Domini S. Velasquez said: “Although we had a different view on today’s policy decision, favoring a pause over a hike, the 25-bp rate increase was largely expected and offered limited fresh support for the peso.” Velasquez said the “preemptive hike” reinforces the BSP’s focus on keeping inflation expectations anchored, “but comes at the cost of further weighing on domestic demand and growth.” “With the economy already losing momentum, this could point to a more prolonged period of weak growth

ahead,” added Velasquez. Prior to plunging to the new alltime low of 61.888 on August 27, the last time the peso slumped to its weakest was on July 24 when it closed at P61.847 against the greenback. Within the trading session on Thursday, the peso traded from as strong as P61.68 to as weak as P61.89 per dollar. At the Monetary Board’s policy meeting on August 27, it revised downwards its inflation forecast for 2026 to 6.1 percent from its 6.4 percent forecast during its June 18 policy meeting. However, it raised its inflation forecast to 5.4 percent for 2027, compared to its 4.5 percent forecast on June 18.

A household is considered multidimensionally poor when its combined deprivation score exceeds the 0.25 poverty cutoff.

enced by people and households. A person may be poor in terms of income, but should not necessarily be deprived because the government should have programs that provide better access to basic services for economically disadvantaged people,” Oplas told the BusinessMirror. She said the MPI is best used to assess how effectively government programs provide access to basic services, noting that poverty should not be a reason for people to remain deprived of health, education and better living standards. The 2024 estimates of MPI were based on preliminary results from the 2024 CommunityBased Monitoring System (CBMS). The PSA excluded Las Piñas, Pasay, Iloilo and General Santos from the national estimate as their data were still undergoing validation. Citylevel MPI results for the four highly urbanized cities will be provided once available.

‘Useful measure’

FOR De La Salle University economist Ma. Ella C. Oplas, the MPI provides a useful measure of poverty beyond income by showing where people experience deprivation. She said the measure could help government identify where people are most deprived and direct resources toward areas such as education, health and living standards. Oplas noted that being poor based on income should not necessarily mean being deprived of basic services, as government programs should help economically disadvantaged households gain better access to these services. “The MPI tells us how effective the government is in addressing the deprivations experi-

Inflation… Continued from A1

Reverse Repurchase (RRP) Rate to 5 percent. The interest rates on the overnight deposit and lending facilities were adjusted to 4.5 percent and 5.5 percent, respectively. During the monetary policy meeting, BSP Governor Eli M. Remolona Jr., who also serves as the chairman of the Monetary Board, said: “It’s true headline inflation has eased. However, core inflation remains above the tolerance range reflecting second-round effects.” “At the same time, oil prices remain volatile. Posing further risks to inflation is the possible impact of a severe El Niño event and potential minimum wage adjustments,” added Remolona. These underlying pressures, the central bank chief emphasized, require “preemptive monetary action.” Remolona explained that while volatile oil prices remain a risk to inflation, “The other risks are bigger.” “We’re even looking beyond just the oil prices, which have been going up and down. We’re looking at other factors as well. They’ve become more prominent than before,” added the BSP governor.

Revised inflation forecasts

WHILE the Monetary Board opted for a preemptive policy move during its August 27 rate-setting meeting, it revised downwards its inflation forecast for 2026 to 6.1 percent from its 6.4 percent forecast during its June 18 policy meeting.

However, it raised its inflation forecast to 5.4 percent for 2027, compared to its 4.5 percent forecast last June 18. BSP Assistant Governor for Monetary Policy Sub-Sector Rogelio V. Mercado Jr. said: “The 6.1 percent inflation is of course driven by lower-than-expected inflation in June and July, as well as declining oil prices. This would be partly offset by the impact of El Niño on rice prices in the fourth quarter.” “For 2027, our inflation forecast is now at 5.4 percent. This is up from 4.5 percent, and it will be driven by the impact of severe El Niño on rice prices, as well as the impact of higher minimum wage increase.” For 2028, Mercado said the latest central forecast is that inflation will return to around 3.3 percent, which is close to the central bank’s target and within the tolerance band.

Severity of El Niño

WITH a lower inflation forecast for 2026, however, Mercado said the central bank is still looking into a “possible large risk that can come in towards the end of the year.” “In particular, of course, we have El Niño, which is projected to be quite severe. And the peak of the severity of El Niño will happen towards, in fact, the fourth quarter of the year,” added Mercado. On the El Niño assumption, BSP Department of Economic Research Director Laga Ganapin said in the central scenario, the BSP is looking at a strong El Niño episode. “So, we look at two channels in terms of the impact on rice output. If rice output would go down, then there would be some pressure on domestic rice prices,” Ganapin said. The other channel, she explained, is in terms of higher import prices because other countries are also affected by El Niño. “So, if there’s pressure on global rice prices, then that could also have some impact on the domestic prices,” added Ganapin.

Wage increase

ANOTHER inflation risk flagged

House panel files spending plan as ₧7.2-T GAB for 2027 Continued from A17

general public services at P1.317 trillion, debt burden at P1.143 trillion, and defense at P452.4 billion. The government said the 2027 spending plan will prioritize the completion of ongoing programs and projects rather than simply starting new initiatives. The proposed budget also contains P111.984 billion in unprogrammed appropriations, equivalent to about 1.5 percent of the expenditure program. The government expects a budget deficit of P1.7 trillion, which will be financed through borrowing. With the filing of HB No. 10858, the 2027 budget now formally enters the House legislative process. Lawmakers will continue examining agency allocations, proposed programs and spending priorities before the measure is brought to the plenary. Suansing has said the House intends to approve the 2027 GAB on the third and final reading by October 9. The House has also committed to transparency in the budget process, with hearings of the Committee on Appropriations and the Budget Amendments Review Subcommittee scheduled to be livestreamed. After House approval, the GAB will undergo deliberations in the Senate before the two chambers reconcile their respective versions through the bicameral conference committee.

by the central bank is the potential wage adjustment which also warrants “close monitoring,” including their implications for broader price setting and second-round effects. Remolona said the BSP was “somewhat surprised” at the 12-percent increase in the daily minimum wage in the National Capital Region (NCR). “In situations like this, we do scenarios. One scenario is everybody will follow NCR. So everybody will do 12 percent, all the different regions. And then we look at the possibility that maybe it will be mainly Metro Manila and not the others,” said Remolona. The BSP governor noted that while the central bank weighs these possibilities, nonetheless, for most scenarios, “We think it will be a significant inflationary factor.” The BSP’s annual minimum wage increase assumption for 2026 was way below the actual minimum wage hike or the P85 approved by the NCR wage board for this year. “The assumed annual minimum wage increase is 6.7 percent for 2026, in line with the previous year’s wage adjustment in the National Capital Region,” BSP said in its Monetary Policy Report. The P85 approved by the NCR wage board is equivalent to a 12.23-percent increase. Looking ahead, Remolona said: “We’re hoping that we won’t need another rate hike.” Still, the BSP governor said: “We will tighten as much as we need to, to bring the inflation rate down to its target.” “The Monetary Board is prepared to take monetary policy action as warranted to ensure that inflation returns to the 3-percent target, in keeping with its price stability mandate,” the BSP said in a statement on Thursday. The central bank said the measured increases in the policy rate will continue to anchor inflation expectations and mitigate the risk of further second-round effects. “Despite the slow growth in the first half of 2026, the fundamentals for growth appear to be intact over the medium term. With the support of fiscal measures, growth is expected to strengthen in the second half of the year,” it added.

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The Nation

Think tank hits attempts to make govt soften action against offending Chinese steel mills By Rizal Raoul Reyes @brownindio

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NDEPENDENT think tank Stratbase Institute on We d n e s d a y a s s a i l e d a t tempts by foreign interests to pressure the government into halting or weakening enforcement actions against Chineselinked steel facilities accused of violating Philippine laws. In a statement, Stratbase Institute President and Professor Victor Andres Manhit expressed concern over reported threats to arrest Filipinos in China if Chinese workers detained during the raids were not released.

“We have seen how simply speaking out against violations of our country’s sovereignty could impact anybody, even our own Defense Secretary Gilberto Teodoro Jr.,” Manhit said, referring to sanctions imposed by the Chinese government last June against the defense secretary over his strong positions and remarks regarding the West Philippine Sea (WPS). “We must assert that no foreign government can dictate how Philippine agencies and courts enforce domestic laws or intimidate officials carrying out their duties,” he added. See “Stell mills,” A16

Friday, August 28, 2026

Issue is Sara’s use of confi funds not aliases–impeach prosecutors By Jovee Marie N. dela Cruz

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@joveemarie

HE issue surrounding the Office of the Vice President’s (OVP) confidential funds concerns the alleged misuse of public funds, not the use of aliases associated with Filipino heroes during the Spanish colonial period, according to spokespersons of the House prosecution team.

They issued the statement after Senator-Judge Robinhood Padilla attempted to provide historical context during Vice President Sara Z. Duterte’s impeachment trial last Wednesday. Padilla pointed out that Filipino revolutionaries also used aliases to conceal and protect their identities. The actor-turned-lawmaker raised the point after the use of unusual names and aliases by the alleged recipients of the OVP’s confidential funds became the subject of public ridicule and criticism. See “Sara,” A16

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Comelec warns vs vote buying in BARMM polls

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INNING cand id ates i n t he Ba ngsa moro Autonomous Region in Muslim Mindanao (BARMM) could have their proclamations suspended if the Commission on Elections (Comelec) finds evidence of vote-buying during the upcoming parliamentary elections. However, the polls body said it has yet to receive a vote-buying complaint. Related story on page B8 Comelec Chairman George Erwin M. Garcia said the poll body has created task forces across See “Polls,” A16

Comelec cuts Dasmariñas polls budget to ₧128-M

Flooding, landslide threats to persist until end-August

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By Mary Jade Jadormio

HE Commission on Elections (Comelec) has reduced its budget for the special elections in Dasmariñas City, Cavite, to P128 million from an initial P191 million. Comelec Chairman George Erwin M. Garcia said the budget was brought down by about P63 million through

measures aimed at reducing election expenses. The cuts did not include the allowance of teachers serving in the polls, which the Comelec kept at an additional P2,000 across the board. “We did not compromise what the teachers will receive,” Garcia said. See “Comelec,” A16

By Jonathan L. Mayuga @jonlmayuga

HILE still reeling from days of non-stop rains, parts of Northern and Central Luzon are experiencing heavy rainfall that may last until the end of the month due to the southwest monsoon, the government weather bureau said. The Philippine Atmospheric, Geophysical and Astronomical Ser v ices Administration (Pagasa) said moderate to heav y rain is forecast over Benguet, La

Union, Pangasinan, Zambales, Bataan and Occidental Mindoro today until tomorrow, August 28; while Pangasinan, Ilocos Sur, Abra, La Union, Cavite and Batangas will experience moderate to heav y rain from Friday until Saturday. The inclement weather will continue until August 29, affecting Ilocos Sur, Abra, La Union, Pangasinan, Bataan, Pampanga, Cavite, and Batangas, and Ilocos Norte. Pagasa said that more areas w i l l e x per ience moderate to

heavy rainfall until August 30, including locos Norte, Ilocos Sur, La Union, Pangasinan, Abra, Tarlac, Nueva Ecija, Pampanga, Bulacan, Metro Manila, Rizal, Cavite, and Batangas. Meanwhile, Heavy rainfall is forecasted over Benguet, Zambales, and Occidental Mindoro until August 30. This means that 100 to 200 mm of rain is expected to pour during the period. Under such conditions, Pagasa said flooding is likely, especially in areas that are urbanized, lowlying, or near rivers. Moreover,

the weather bureau warned that landslide is likely in moderate to highly susceptible areas. Zambales, one of the provinces hardest hit by flooding, remains under a state of calamity. Heavy rainfall over the past three weeks has triggered flashfloods, caused severe flooding and induced landslides that claimed 31 people and injured 19 others, according to the National Disaster Risk Reduction and Management Council (NDRRMC). See “Flooding,” A16

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Economy

Friday, August 28, 2026

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PCA eyes massive planting to replace senile coco trees T

DAR condones ₧57.7 billion farmer-beneficiaries’ arrears

By Ada Pelonia @adapelonia

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HE Philippine Coconut Authority (PCA) wants to prioritize massive tree planting in the proposed amendments to the coco-levy fund law as the country lags in output owing to the increasing number of senile trees. PC A Administrator Dexter Buted said that among their proposed amendments to the Republic Act 11524 or the Coconut Farmers and Industry Trust Fund Act, currently being deliberated in Congress, is the removal of percentage allocations across funded programs, with the PCA taking the helm in the PCA Board. He said this will enable the agency to earmark allocation

on priority projects, such as the massive coconut planting which was not included in the Coconut Farmers and Industry Development Plan (CFIDP). “We don’t have a budget for the massive planting [...] the national government should realize that 10 percent of [coconut trees] become senile every year,” Buted told reporters on the sidelines of an industry event in Pasay City.

He said senile trees drag down local output, since these yield less nuts, thus affecting raw material necessary for value-added products like coconut oil. Buted also addressed why the massive planting should be bankrolled by the coconut levy fund, which was earmarked for the farmers. “Farmers will ultimately benefit from the increase in coconut trees,” he said. “It’s now or never. This is the right time to develop the industry.” Buted also explained that the proposed move would not discount the 15 implementing agencies stipulated under the law, since the allocation per program based on priority will still be evaluated by the PCA Board. “The PCA knows what’s happening in the industry [...] but the [projects to be prioritized] will still be properly deliberated by the PCA Board.” Buted noted that the Philippines’ production of more than

14 billion nuts lags behind leading coconut powerhouses, such as India’s 20 billion and Indonesia’s 18 billion nuts. “We need to amend the law to secure the coconut industry’s sustainability,” he said. Earlier, the PCA said it is optimistic that export earnings from coconut-based products in 2026 could surpass the record $3.57 billion last year despite the threats posed by El Niño on plantations. The agency is banking on government interventions to prevent a plunge in productivity, which could affect coconut shipments, the country’s top farm export. This, after coconut productivity fell by around 20 percent in 2024 when the Philippines was hit by the dry spell. The PCA has ventured into solar drip irrigation programs while continuously working with both cooperatives and other government agencies for mitigation measures.

DOE scouts for coal-blending facility site By Lenie Lectura @llectura

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HE Philippine National Oil Company—Ex ploration Corp. (PNOC) is scouting for a suitable location for the Department of Energy’s (DOE) planned coal-blending facility—a first in the country aimed at maximizing the utilization of local coal to feed the power-hungry nation. “We are also pursuing a coal terminal in the Philippines. We lack a blending facility here, meaning we can only use one type of coal: Indonesian coal. In fact, we import 95 percent of our coal from Indonesia,” said Energy Secretary Sharon Garin during the 15th Energy Smart Forum organized by the European Chamber of Commerce of the Philippines (ECCP) held in Makati City. The importation of Indonesian coal is mostly influenced by the

quality of the coal, citing how this perfectly fits the turbines of coal power producers. Garin said if the Philippines puts up a coal blending facility then it will no longer be restricted to Indonesian coal. “For example, we get from local and it’s not good enough then we can mix it with something else. There are some who get it from Australia. Before, we used to get from Russia also. Other than that, there are not many providers, so our options are limited. We don’t have energy security as far as coal is concerned. Because 95 percent of our coal is imported from Indonesia. Anything can happen, so what we need is to have a diversification of our risk. We need to source it from different countries, if there’s an option, or the best option is to source it incountry. Most of our coal, they say, is not good enough for our coal power plants, but there is a way

to fix that. We can mix our coal with something that can make it useful for our coal power plants,” said Garin. She plans to pitch the proposed terminal to power industry stakeholders since this will be a private-sector led investment in which government will only have a minimal stake. “I hope to sell the idea to our stakeholders. I hope that our gencos [generation companies], or even our coal mining firms or traders, will start thinking about it and maybe they can form an organization that could embark on that. It’s not a complicated project, it just requires a terminal, along with the necessary machines and equipment to do that, but it might take time. There is one location we are looking at in Mindanao, and because we don’t know yet if it’s feasible, so we’re conducting a feasibility study,” Garin said.

The PNOC will take the lead, and it has started studying, scoping areas in Mindanao and the rest of the country. Garin said the government might participate through a minimum shareholding just maintain an overview or supervision. “Other than that, I would not put government as an operator,” she added. She noted that electricity prices are likely not be affected by the capital intensive project that will be financed by the private sector. “That’s part of our feasibility study-ensuring its commercially viable and won’t increase the price of power. “Offhand, I don’t think it will, because we’ll use local materials and probably mix them with some imports. I think local coal should be cheaper.” Garin, as Energy secretary, acts as the ex-officio chairperson of the PNOC-EC.

Legislator seeks total ban on waste imports By Jovee Marie N. dela Cruz @joveemarie

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A R NING that imported foreign waste worsens local flooding and places an additional burden on the country’s sanitation system, a deputy majority leader has filed legislation seeking a total ban on waste imports, with stiff

penalties and mandatory arrests for violators. Quezon City Rep. Patrick Michael Vargas filed House Bill 6267, or the proposed Total Ban on the Importation of Wastes Act. Under the bill, the entry of all foreign waste, processed waste, and waste by-products into Philippine territory would be declared illegal. “We have seen in recent weeks

during the Habagat how garbage has overflowed into our rivers and waterways. It will be even more difficult to address our waste management problems if we continue allowing the Philippines to become a dumping ground for other countries’ waste,” Vargas said. The bill cites a United Nations Environment Programe report identifying Asia as a major dumping ground for illegally traded waste. It also details previous high-profile incidents in which tons of toxic, household, and electronic waste from Canada, South Korea, Japan, and Hong Kong, entered Philippine ports. Vargas emphasized that preventing foreign waste from entering the country is critical to urban flood control and long-term environmental sustainability. “ I mprop er w a ste d i s pos a l further worsens f looding and disasters whenever there are ty phoons and monsoon rains. We must first put our own waste management system in order. Let us close our doors to foreign waste,” Vargas said. To ensure strict compliance at

the country’s borders, HB 6267 mandates the establishment of 24/7 Environmental Protection Desks at all national ports of entry. Misdeclared cargo or shipments containing waste would be prohibited from being unloaded and would be ordered to return immediately to their port of origin at the shipper’s expense. The measure would penalize violators through the seizure of vessels and permanent shipping bans on offending foreign exporters. It would also require the immediate arrest of officers, crew members, and consignees who refuse to comply with orders to leave Philippine ports. Violators would also face prosecution under existing environmental and customs laws, including Republic Act No. 9003 and the Customs Modernization and Tariff Act. “By establishing a total ban, we send a clear message to the international community that the Philippines is not a dumping ground. We must prioritize and address the cleanliness and safety of the Philippines first,” Vargas said.

By Jonathan L. Mayuga

@jonlmayuga

HE Department of Agrarian Reform (DAR) continues to issue condonation as mandated by Republic Act 11953 or the New Agrarian Emancipation Act. A report by the Philippine Information Agency indicates that the DAR has condoned a total of P57.76 billion in farmers’ debt since the law was enacted. RA 11953 provides condonation of unpaid principal loans, amortizations, interest, and penalties for over 610,000 agrarian reform beneficiaries (ARBs) nationwide and exempts them from estate taxes. “That law is good because the principal, interest, and penalties on their obligation to pay to the Land Bank of the Philippines have been condoned. That means it has been erased. They no longer have any obligation to pay,” Bureau of Agrarian Legal Assistance Director Eugene Follante was quoted as saying. “Because of that, they now have 100 percent ownership of the land we gave to our beneficiaries,” he added. Meanwhile, Follante said DAR is also accelerating the issuance of individual electronic titles, or e-Titles, to agrarian reform beneficiaries. “As of January to June, our actual accomplishment consists of 19,967 land titles, e-titles covering 19,006 hectares, benefiting 10,522 agrarian reform beneficiaries,” Follante said. For agrarian reform beneficiaries (ARBs) to get ma ximum benefit from DAR programs and projects, they need to be members of Agrarian Reform Beneficiaries’ Organizations (Arbos), farmers’ cooperatives or irrigators’ associations. Chief Agrarian Reform Program Officer Sol Peralta said that the agency is organizing ARBs into registered organizations and cooperatives so they can better access support for production, processing, and marketing. The DAR reported that it has completed 537 farm-to-market roads (FMR) nationwide from July 2022 to July 2026. A total of 89 FMR projects are currently in various stages of development. To boost farmers’ productivity and income, the DAR said it is looking at forging new ties with the Development Bank of the Philippines (DBP), the Philippine Coconut Authority (PCA), and the Cooperative Development Authority (CDC). The DBP partnership will enhance training and credit programs while the PCA partnership will align coconut farmers with various programs of DAR. Lastly, the partnership with CDA will help boost applications of various ARBOs to form a dulyregistered cooperative. In a statement, the highlighted its priority programs and commitments to protect the rights, strengthen the livelihoods, and improve the lives of ARBs. DAR officials, led by Undersecretary Rowena Niña O. Taduran of the Special Concerns and External Affairs and Communications Operations Office (SC-EACOO), shared updates on key agrarian reform concerns, including land distribution, debt condonation for farmers, land reform cases, land conversion, parcelization, landowner compensation, and the protection of awarded agricultural lands. The discussion emphasized that DAR’s work does not end with the distribution of land. The Department continues to provide ARBs with legal assistance, agricultural mechanization, modern technologies, infrastructure, market access, and other support services to help them make their land more productive and build more sustainable livelihoods. Particular attention was given to strengthening Agrarian Reform Beneficiaries Organizations (ARBOs), improving farmers’ access to markets and value chains, and developing farm-to-market roads that connect farming communities to markets and economic opportunities. Taduran underscored the central role of farmers in the country’s food security, saying, “If you ate today, thank a farmer.” She stressed that DAR seeks to empower ARBs not only to remain productive farmers, but also to become agricultural entrepreneurs capable of creating sustainable income and opportunities for their families and communities. See “DAR,” A16

Red alert at Visayas grid again

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HE National Grid Corporation of the Philippines (NGCP) placed on red and yellow alert the Visayas power grid on Thursday. The red alert takes effect from 5:00 p.m. to 8:00 p.m. A red alert status is issued when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement. From 2:00 p.m. to 5:00 p.m. and from 8:00 p.m. to 9 p.m., the grid is on yellow alert because operating margin is insufficient to meet the transmission grid’s contingency requirement. The NGCP reported that the Visayas’ available capacity stood at 2,344 megawatts (MW) while peak demand reached 2,452MW.

It added that nine plants are on forced outage this month, one plant since July, three plants since June, seven plants since May, one plant since March, three plants since 2025, two plants since 2024, two plants since 2023, and one plant since 2021, while 16 plants are running on derated capacities, for a total of 916.2.MW unavailable to the grid. The NGCP cited other factors that contributed to the red and yellow alert declarations: n Unavailability of Visayas’ large coal plants TVI 1, TVI 2 and KSPC 1. n Limited power import from Mindanao. Lenie Lectura

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DepEd rushes hiring of 10,000 school counselor associates after campus violence By Claudeth Mocon-Ciriaco @claudethmc3

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O support learners’ mental health following recent campus incidents of violence, Education Secretary Juan Edgardo Angara is accelerating the recruitment and deployment of 10,000 School Counselor Associates (SCA) nationwide. Following official approvals from the Civil Service Commission (CSC) on June 30, 2026, and the creation of 10,000 plantilla items for SCA I by the Department of Budget and Management (DBM) on July 15, 2026, DepEd shortened its standard hiring process to 36 days. Under DepEd’s digital hiring portal, the Agile Gateway for Appointments and Placements (AGAP), as of August 27, 2026, 9,702 items have already been posted. Of these, 785 positions are currently open for application, 8,811 are under assessment, and 106 are for appointment. The remaining 298 positions are either awaiting issuance of Notice of Organization, Staffing

and Compensation Action (NOSCA) or are yet to be posted. Candidate assessments and appointments are scheduled for completion, followed immediately by onboarding to place new counselor associates in schools by year-end. “Keeping our schools safe is not just about building fences or installing metal detectors. It is also about making sure our learners have trusted, caring adults to talk to whenever they are going through tough times,” Angara said as he emphasized that safeguarding schools requires a comprehensive strategy that integrates mental health interventions

Sen. Bam seeks to increase social pension for senior citizens to ₧1K By Butch Fernandez @butchfBM

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ITH a view to boosting assistance to more senior citizens, Senator Bam Aquino wants to expand the coverage of the Expanded Senior Citizens Act of 2010 and increase the monthly social pension for qualified senior citizens to P1,000. Aquino’s Senate Bill No. 269 seeks to provide a P1,000 monthly social pension to senior citizens who do not receive a social pension or who receive a pension of no more than P3,000, giving them a regular and predictable source of income they can use for everyday expenses, medical needs, and emergencies. “As we grow older, it becomes more difficult to generate income. Many of our Lolos and Lolas face barriers to staying employed after the age of 60 due to physical limitations, agebased discrimination, or the lack of opportunities tailored to their skills,” he explained. “Unlike irregular or informal sources of support, a pension allows recipients to manage their resources with more certainty. This reduces stress, promotes better well-being, and allows older people to make personal choices about how their money is spent,” he added.

Aquino pointed out that a reliable social pension can also ease the financial burden on families who may already be struggling with their own everyday expenses, such as food, medicine, and educational needs. “A pension can help cover food, medicine, utility bills, or transportation costs, easing the financial pressure on younger relatives who may already be juggling their own expenses,” he explained. Aquino said the proposed increase is also a way of recognizing the contributions of senior citizens to the country. “Our senior citizens have broadly contributed to the development of our nation. It is time for us to return their sacrifices by ensuring that they are cared for in their old age,” he emphasized. Senate Bill No. 269 is part of Aquino’s 10 “Panukalang Batas para sa AbotKayang Pamumuhay,” which seek to provide immediate relief and support to ordinary citizens burdened by high prices, costly health services, low wages, and inadequate government support. Aquino, likewise, filed Senate Bill No. 2386, or the National Disability Support Act, providing qualified persons with disabilities (PWDs) a P2,000 monthly disability support allowance) to help cover disability-related costs and other essential expenses.

with physical security efforts. “While we carry out emergency drills and physical safety checks, we must respond to mental health needs with the same urgency. By speeding up the hiring of our School Counselor Associates, we are creating a stronger safety net for our children,” Angara added. Created under Republic Act No. 12080, or the Basic Education Mental Health and Well-Being Promotion Act of 2024, these

new School Counselor Associate positions will provide frontline mental health and well-being services and support to School Counselors in the schools. The 10,000 SCA I positions will complement School Counselors in providing basic mental health and psychosocial support, information and advocacy, and learner referral services. Angara said schools with documented cases of bullying or high mental health needs are being prioritized

for deployment. DepEd has also requested 5,000 additional SCA I positions under the scrap-andbuild process mostly by converting existing vacant guidance-related items. The rapid deployment marks a critical milestone in the implementation of the Basic Education Mental Health and WellBeing Promotion Act, which was enacted on December 6, 2024. DepEd submitted the proposed qualifi-

cation standards to the CSC on November 27, 2025. The CSC officially approved the standards on June 30, 2026, paving the way for the DBM to authorize the creation of 10,000 SCA I positions on July 15, 2026. This initiative is part of DepEd’s overall school safety strategy, combining improved physical security measures with emergency response training and accessible mental health services.

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Cebu dengue cases rise to 2,324 as PHO steps up community prevention drive

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By Carmel Pedroza

EBU CITY—The Cebu Provincial Health Office (PHO) is stepping up its campaign against dengue as cases in the province reached 2,324 from January to Aug. 18, with health officials placing greater emphasis on community-led efforts to eliminate mosquito-breeding sites.

The province also recorded 17 denguerelated deaths during the period, according to Dr. Sheila Faciol of the PHO. Faciol said the number of cases has increased since July and is higher compared with the same period last year, although she did not provide the corresponding 2025 figures during the interview. She attributed the rise partly to the rainy season, which has resulted in more stagnant water where mosquitoes can lay eggs. However, Faciol stressed that residents should not assume that only dirty or polluted water poses a dengue risk.

Mosquitoes can also breed in clean stagnant water found in flower vases, gutters, and containers or tanks used to store water, she said. The PHO began activating its dengue response as early as July, encouraging LGUs, barangays and households to carry out cleanup activities and remove possible breeding grounds. According to Faciol, dengue brigades were already in place in LGUs, but the rise in cases prompted health authorities to reinforce the campaign and urge residents to clean their own surroundings.

Schools have also been included in the prevention drive. Faciol said general cleaning activities were undertaken to prevent stagnant water from collecting within school premises, including in areas where water is pumped or stored. Talisay City, Toledo City and the municipality of Medellin were among the areas identified as having high case counts. As of the latest reporting period, Talisay had 272 cases, Toledo had 217, and Medellin had 182. The provincial government has extended assistance to these areas as part of efforts to contain the spread of dengue. Faciol said cleanup remains the primary intervention under the province›s dengue campaign, while misting is used only when necessary and after efforts have been made to remove breeding sites. “Misting is our last resort,” she said, noting that it may be conducted in affected areas, including schools, when warranted. She also urged parents and caregivers to bring children and other family members experiencing fever to the nearest rural health unit (RHU) or hospital for assessment. Dengue tests are available in RHUs and the province’s 16 government-owned hospitals, particularly for patients who have had fever for three to five days.

DOJ to evaluate PNP complaint vs AdZU shooter’s father, school security personnel By Joel R. San Juan @jrsanjuan1573

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HE Department of Justice (DOJ) on Thursday said it would subject to evaluation the criminal complaint for reckless imprudence resulting in homicide and physical injury filed by the Philippine National Police (PNP) against the father of the student involved in the August 18 Zamboanga shooting incident and a school security personnel. The complaint against the respondents were filed before the Office of the City Prosecutor of Zamboanga City. The father, the district commander of the Port of Zamboanga Enforcement and

Security Services, has already been relieved from his post following the shooting incident which occurred inside the Ateneo de Zamboanga University Junior High School. He was the registered owner of the .40 pistol and a caliber 9mm pistol that was used by his son during the shooting rampage, which claimed the lives of two students, including the attacker and injured another. “This will undergo proper evaluation, and as a matter of course, we will be expecting that subpoenas will be issued on the respondents so that issues can be properly ventilated and the prosecutors will have the chance to evaluate the complaint,” DOJ Undersecretary Ian Norman Dato said. Dato assured that prosecutors would

act on the complaint based on the evidence presented before them. The PNP, in a statement released on Wednesday, said the father should be held liable for his son’s unauthorized access to the firearms used. On the other hand, the unidentified school security personnel should be held liable for security gaps which allowed the student to bring the guns inside the school premises. Justice Secretary Fredderick Vida earlier said the AdZU shooting incident may be considered as an act of terrorism. Vida said investigators are pursuing the possibilities that there are individuals who mentor young people into committing violent acts.

MILF camps to get boost in entrep, cooperativism By Manuel T. Cayon @awimailbox

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AVAO CITY – Livelihood activities in former major camps of the Moro Islamic Liberation Front will rev up anew as the Bangsamoro government announced it was stepping up efforts to expand opportunities. The Bangsamoro government directed its Cooperatives and Social Enterprise Authority to capacitate the community associations and cooperatives in the 17 barangays lying within the six major military camps in central Mindanao. The CSEA has signed a Memorandum of Agreement (MOA) with the Bangsamoro Development Agency (BDA Inc.) and Community and Family Services International (CFSI) here on August 10 for the implementation of the second phase of the Bangsamoro Camps Transformation Project (BCTP/2). Under the agreement, CSEA will provide capacity-building activities on cooperative governance, financial literacy and enterprise management and the BDA will contribute its expertise in community

mobilization and grassroots participation. The CFSI will provide technical and social development support for project implementation. “Through this partnership, we reaffirm our shared commitment to empowering communities, strengthening local ownership, creating sustainable livelihoods, and building a more peaceful, resilient, and inclusive Bangsamoro,” the CSEA said. CFSI Director for Mindanao Program Noraida Abdullah Karim said the partnership would help strengthen community cooperatives and enterprises in the project areas. “This agreement will empower community cooperatives and enterprises across 17 target barangays in six camp communities under the BCTP/2,” Karim said. The six major camps identified under the normalization track of the 2014 Comprehensive Agreement on the Bangsamoro (CAB) are Camps Abubakar, Omar, Badre, Rajamuda, Bushra Somiorang, and Bilal. These camps are communities where former combatants and their families live alongside other residents, and their transformation into peaceful, productive and

resilient communities is a key component of the normalization process, the Bangsamoro Information Office said. The transformation effort is intended to complement other components of the peace process, including the decommissioning of MILF combatants and weapons, by helping communities build sustainable sources of income and improve access to development opportunities, it added. BDA Executive Director Rhadzni Taalim thanked the CSEA for supporting the project. “Every act we do for this project serving the people in the camps can be considered as part of our worship. We thank CSEA for their continuing support for the project,” Taalim said. The project will also provide opportunities for women, youth, Indigenous Peoples and farmers to participate in development activities, while supporting community resilience through climate adaptation and disaster risk reduction initiatives, Taalim said. The activities are supported by the Bangsamoro Normalization Trust Fund (BNTF).

Cebu PHO probes death of Dumanjug baby following MR vaccination

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EBU CITY—The Cebu Provincial Health Office (PHO) has dispatched a team to Dumanjug to conduct its own investigation into the death of a baby whose family raised concerns about a possible link to a measles-rubella (MR) vaccination received earlier this month. Dr. Sheila Faciol, chief of the Cebu PHO, said on Thursday, Aug. 27, that the team was sent to Dumanjug immediately after

the provincial office received the report on Wednesday. “We received the report yesterday, and right away today, our team is already in Dumanjug investigating the case,” Faciol said during the Hisgutan Ta! Media Forum. The investigation includes information gathering at the Dumanjug Rural Health Unit (RHU) and Barili District Hospital, where the child was brought.

Faciol said the team was expected to complete its initial report by Thursday afternoon. She stressed that the investigation is intended to establish the circumstances surrounding the child’s death and determine whether there is any connection to the vaccination. The Dumanjug Municipal Health Office, in an official announcement, said the child See “Dumanjug,” A13

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License helps education grads land jobs, but matching matters for pay—PIDS

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By Mary Jade Jadormio

PROFESSIONAL license helps education graduates improve their chances of getting employed, but finding work that matches their training matters more when it comes to wages, according to a Philippine Institute for Development Studies (PIDS) study. Licensure significantly increases the probability of employment, while education-to-occupation matching is significantly associated with higher wages, the study found. Wage gains were also stronger among licensed graduates working in the public sector, suggesting that employment setting plays an important role in the returns to a professional credential. “Licensure is positive but not significantly associated with wages,” PIDS said. The findings were based on the July 2024 merged Labor Force Survey-Annual Poverty Indicator Survey covering bachelor’s degree holders aged 22 to 60 from education science and related programs. It covered a weighted sample of about 1.83 million graduates, including more than 1.2 million who had taken and passed a licensure examination. Among licensed graduates, 84 percent were employed, compared with 54 percent among those without a license. Licensure also coincided with a much smaller share of graduates being outside the labor force, with 10 percent among licensed graduates compared with 32 percent among those without a license. Job matching mattered for employment quality as well, according to the study.

Licensed graduates working in jobs aligned with their education had a predicted underemployment probability of 7.20 percent, compared with 8.46 percent among those working outside their field. Public-sector employment produced a wider difference, with licensed graduates in government posting a predicted underemployment probability of 3.98 percent versus 14.73 percent among those in private employment or self-employment. The study noted that professional licensure is particularly relevant to education graduates because a teaching license is required for permanent teaching positions in public schools. However, for graduates without licenses working in an education-related occupation did not produce the same underemployment advantage. Their predicted underemployment probability was 7.89 percent when working in an educationrelated occupation, compared with 7.12 percent when working outside the field. “For education program graduates, having a license alone does not significantly improve one’s labor market experience,” the study said. The researchers recommended stronger career pathways for education graduates, alongside better alignment among teacher education, licensure and labor-market demand.

DAR turns over delivery truck to women-led Cebu ARBO, expands market opportunities

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HE Department of Agrarian Reform Region 7 (DAR 7) has turned over a delivery truck to the Malalay Farmers Beneficiaries Organization Inc. (MFBO Inc.) based in Ronda, Cebu, to boost the group’s logistical capacity to bring products to a wider market. Delivered under the DAR’s Enterprise Development and Economic Support (EDES) through the Partnership Against Hunger and Poverty (PAHP) program during an activity held at the Malalay Covered Court in Ronda, Cebu, on August 26, 2026, the delivery truck is expected to boost productivity and farmers’ income. The women led MFBO Inc., is composed of 124 members, 101 of whom are women ARBs and is led by women leaders Nemesia G. Asentista as Organization President alongside Zenalin N. Gallardo as her vice president. The organization produces a wide range of agricultural commodities, including cacao, corn, vegetables, fruits, and livestock. As production expanded, MFBO Inc. actively sought private and institutional buyers to establish stable markets for its products and prevent the wastage of agricultural produce. “We won’t have as much difficulty anymore

Dumanjug. . . Continued from A12

died on Aug. 24. The child had received the MR vaccine on Aug. 10, prompting the family to raise concerns about a possible connection between the vaccination and the death. The MHO said it immediately reported the incident to the Department of Health Regional Epidemiology and Surveillance Unit (DOH-RESU) and coordinated with the DOH and PHO for a proper review. “At present, there is no conclusion that vaccination was related to the death of the child,” the MHO said, noting that determining a possible link would require a careful review of the child’s medical history, health condition, and other relevant information. Faciol’s statement comes as Cebu continues its MR vaccination campaign targeting children aged six months to 59 months. The campaign, which started

because now we have a vehicle for transporting our products,” MFBO Inc. president Nemesia said. Among the group’s institutional buyers are the Ronda Countryside Development Cooperative (RCDC), represented by Alfredo Reyes, and A2Z Agrivet, represented by Annie and Elias Yonting during the turnover activity. The growing production of the organization has created greater opportunities for its members, but it has also increased the need for reliable transportation. Through the PAHP program, DAR VII provided the organization with a delivery vehicle that can help address this logistical requirement. The newly turned-over truck is expected to support MFBO Inc. in transporting its increasing volume of agricultural products and ensuring timely deliveries to buyers. The vehicle will also help improve the organization’s transportation and marketing operations while reducing post-harvest losses. With more efficient delivery capabilities, MFBO Inc. can strengthen its relationships with existing buyers while exploring additional market opportunities for its farm products. Jonathan L. Mayuga on Aug. 10, was initially scheduled to end Aug. 28 but is expected to be extended. As of Thursday, Faciol said Cebu Province had recorded only a 19.7% accomplishment rate for the MR campaign, which she described as “very, very low.” She attributed part of the challenge to vaccine hesitancy, including the spread of negative and false information on social media that may influence parents and caregivers. Despite the Dumanjug case, Faciol said the PHO would continue encouraging parents to have their eligible children vaccinated. “We will not back down. We continue to encourage our mothers to have their children vaccinated,” she said. Faciol also cited efforts by local governments and the PHO to bring vaccines closer to communities and encourage parents to participate in the campaign. At a recent Cebu Caravan in Tabuelan, she said 10 children received MR vaccinations.

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At least 1,300 missing as flood devastates Nepal-China region By Ben Westcott, Nikita Koirala, Claire Jiao & Dan Strumpf

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washed away roads and bridges in Nepal’s mountainous Rasuwa district and prompted widespread evacuation alerts. Initial geological assessments

said the flood was caused by a collapsing glacier in the Himalayan region between Nepal and Tibet last Wednesday, which occurred alongside a 5.2-magnitude seismic event that sent water, ice and rock downstream. Images and video capturing the catastrophe showed walls of water and rock smashing into villages in the heavily-touristed mountain valley. In one widely circulating video, a wall of debris overtook a border complex in Tibet at Gyirong Port, China’s main gateway to Nepal, washing away buildings and sending people fleeing for their lives. The scale of the devastation is prompting fears that the disaster could be one of the region’s worst in years. China’s state broadcaster cctv said on the Chinese side of the border there were at least three deaths

and 558 missing—including 260 foreigners—as of Thursday morning. Nepalese authorities said 826 people were out of contact, including 579 tourists. “Nobody knows anything,” said Paribesh Chiluwal, a Kathmandu resident whose 28-year-old wife and 2-year-old son were missing after the disaster. His wife, who is eight months pregnant, worked at the local health post in Timure, Nepal’s Rasuwa district. The last several hours have been “traumatic,” he said. Chinese President Xi Jinping called for an all-out rescue effort in Tibet after what could become one of the country’s deadliest natural disasters this year. A Y-20 transport aircraft from the Western Theater Command Air Force is carrying a guidance team to organize joint

rescue operations in Gyirong county, according to Xinhua News Agency. On the India side of Nepal’s border, the states of Bihar and Uttar Pradesh were on high alert for flash flooding, and residents evacuated from some areas, according to a government statement issued late Wednesday. As dawn broke Thursday, the scale of the devastation became more apparent. Thirty Bengali tourists who were traveling on a pilgrimage were missing along with two guides, said Yashojit Basu, project manager at the Kolkata-based Chalo Jaai Travel Club. The group is estimated to have reached an immigration office at around the same time the mudslide hit. Video footage showed people running for their lives ahead of a

deluge that toppled structures and sent debris flying. “No contact has been made yet,” Basu said by phone from Egypt, where he is running a different tour. A local team attempted a searchand-rescue operation several hours later, he said, but was unable to land a helicopter due to the extreme conditions. “What they told us is, based on the devastation, the chance for survival is very thin,” Basu said. As many as 80 bridges and 40 kilometers (25 miles) of paved highway were damaged or swept away, Nepal’s Disaster Risk Reduction and Management Authority said in a post on X. There are 89 security personnel missing, including members of the police and armed forces, it later added.

leakage. Some are in agreement that a single tier will plug that loophole,” Nazal said. Cagayan de Oro Rep. Rufus Rodriguez also cited BIR records showing no payments under nicotine salt despite the separate tax category. He called for a unified P15-per-

milliliter rate that would generate collections while reducing incentives for consumers to move toward illicit products. At the same time, lawmakers raised the need to consider how the eventual rate would compare with the tax treatment of cigarettes.

Quezon City Rep. Jesus Manuel Angel Suntay cited mature markets where cigarettes and vapor products are subject to different tax burdens and urged fiscal agencies to consider the reasoning behind those policies. “Mr. Chair, I’m trying to rationalize why in a lot of European

countries, the tax rates are different between traditional cigarettes and vape products. There should be a reason. They have more advanced studies. They are more mature when it comes to taxation [of these products]. But here, why do we want to equalize the two categories? They should have a reason. I believe that when the wheel is not broken, we should not reinvent it,” Suntay said. Economist Bienvenido Oplas reinforced the point with international examples, citing excise differentials between cigarettes and e-cigarettes of 45 percent in Indonesia, 96 percent in the UK, and 100 percent in New Zealand. Government enforcement data presented at the hearing meanwhile showed the extent of continuing operations against illicit tobacco and vapor products. BIR figures showed 6,196 enforcement activities in 2026 involving tobacco and vape products, with P1.7 billion in excise taxes due. This compared with 2,318 activities and P122 million recorded in 2025. BOC data showed 253 tobacco seizure cases valued at P10 billion in 2026, compared with 317 cases

worth P1.87 billion in 2025. For vapor products, the agency recorded 18 seizure cases valued at P1.6 billion in 2026, versus 37 cases worth P649 million the previous year. Lawyer Dondanon Galera, Head Revenue Executive Assistant of the BIR, said the agency’s enforcement experience points to a continuing increase in illicit products being detected. “Base doon sa experience namin, padami nang padami ang huli namin ng illicit products,” Galera said. Nazal said this enforcement environment must be considered when Congress determines the appropriate tax rate, warning that setting it too high could undermine both revenue objectives and efforts against illicit trade. “As mentioned by the Chairman, we do not want to overtax to the point that we will promote further smuggling and discourage investors from investing in our country,” Nazal said. “That beyond a certain rate, we may not be raising more revenue at all but simply pushing consumers in volume to the illicit market,” he added. Jovee Marie N. dela Cruz

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FLASH flood in a Nepalese valley near the Chinese border unleashed waves of devastation that inundated villages and swept away buildings and people, killing at least 165 and leaving more than 1,300 missing, including hundreds of foreign tourists.

Nearly 300 foreign nationals from countries including India, Malaysia, Australia, the UK and US are unaccounted for more than 24 hours after the disaster, which

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Kuwait, Qatar add to growing oil flows getting through Hormuz By Yongchang Chin & Alex Longley

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UWAIT and Qatar—two of the Persian Gulf’s smaller oil producers—are sending more crude through the Strait of Hormuz, adding to an increase in shipments that are keeping global prices in check.

The two countries, which exported a combined 2 million barrels a day of oil before the outbreak of the Iran war, have managed to get shipments back to 70 percent of pre-conflict levels, according to traders, who asked not to be named as they’re not allowed to speak to media. The United Arab Emirates was the first gulf producer to export large volumes of oil through Hormuz, using ship transfers in the Gulf of Oman in a tactic known as shuttling. It has since been joined

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The additional amount will also cover DepEd Supervisors Officially Designated (Deso) personnel and support staff, according to Garcia. Comelec instead reduced spending on other election requirements, including supplies, food and the mobilization of personnel. Some election materials were recycled to further bring down costs and indelible ink were sourced from nearby towns and provinces instead of procuring

by Saudi Arabia, which has been forced to rely more on exporting through the waterway after Houthi militants started targeting tankers in the Red Sea. A total of around 7 million to 8 million barrels of oil a day is now exiting Hormuz, up from around 4 million barrels a day in mid-July, the traders said. That’s around three-quarters of pre-war levels. Vortexa said last Monday that the 7-day average of oil flows through the waterway was close to 10 million barrels a day. new supplies for the election. The local government of Dasmariñas City turned over P50 million to the poll body for the elections as its contribution for the electoral exercise. Garcia said the commission would prioritize essential election requirements while finding ways to save on items that could be reused or sourced more cheaply. He said the commission had to make these adjustments because of the limited funds available for the election, as it also prepares for the barangay and Sangguniang Kabataan elections, and the national and local elections.

The increasing volumes come as Washington and Tehran remain in a stalemate over the Iran war, with control of Hormuz the main point of contention. Global benchmark Brent oil is trading near $87 a barrel, down from above $120 in late April. Qatar and Kuwait began shuttling cargoes through Hormuz around June, and have ramped up volumes despite the risk of Iranian attacks. A Kuwait Petroleum Corp. supertanker was struck earlier in August as it was transiting the chokepoint, the country said in representations to the UN’s shipping watchdog. QatarEnergy, meanwhile, offered this week to sell its crude on a ship-to-ship transfer basis outside Hormuz in the Gulf of Oman. KPC and QatarEnergy didn’t respond to requests for comment. Several phone calls to Kuwait’s oil ministry went unanswered. The so-called shuttle trade has evolved because few vessels are willing to take the risk of transiting Hormuz. As a result, gulf

Flooding. . . Continued from A3

Search and rescue operations are still ongoing for three other persons. NDRRMC reported that at least 2.2 million families or 7.7 million persons were affected, with 8,200 families or 28,000 persons still seeking refuge in 325 different evacuation centers. The NDRRMC said the severe

Polls. . . Continued from A3

BARMM to intensify its monitoring of vote-buying and act quickly on complaints. Senior Comelec personnel from the main office have been assigned to the task forces covering various provinces and the cities of Cotabato and Basilan. The personnel will monitor possible vote-buying activities and directly receive complaints for immediate action by the Comelec en banc, Garcia said. He also said the commission would act immediately after receiving video evidence or a complaint involving vote-buying. T he wa r n ing comes a s c a nd id ates enter t he f ina l st retc h of c a mpa ig n ing for t he f irst pa rl i a ment a r y elec t ions i n BA R MM. Garcia also pointed to previous Comelec actions involving the

producers have either used their own f leets or hired the tankers that will risk a crossing at exorbitant rates to get cargoes through the waterway and then transfer them onto other ships. Kuwait—which has a fleet of 11 supertankers, according to the Equasis shipping database— has mostly used its own vessels. The majority of those very large crude carriers haven’t issued any satellite signals for more than two months, ship-tracking platforms show, suggesting they have turned their transponders off, or gone dark. The country’s success in getting oil through Hormuz means it has been able to offer cargoes on the spot market, the traders said. Those volumes are in addition to what it had committed to long-term customers in East Asia, they said. Qatar’s oil has generally been carried by the commercial tanker fleet, the traders said. TotalEnergies SE said this week it was one of the biggest carriers of Qatari barrels.

flooding in various low-lying areas in Luzon damaged a total of 2,800 houses. According to authorities, damage to public and private infrastructure has now reached P5.59 billion while damage to crops has now reached P1.91 billion. The government said some P1.56 billion has been spent to assist the affected families. According to the NDRRMC, 104 cities and municipalities are still under states of calamity. cancellation of a political party’s registration and the disqualification of candidates as proof that the commission can impose sanctions for violations. “We will not hesitate to disqualify candidates and cancel the registration or disqualify sectoral organizations,” Garcia said. Garcia urged candidates and voters not to believe claims that the September 14 elections might not push through. “Tuloy na tuloy ang halalan,” he said. He also urged voters to reject intimidation and vote-buying and cast their ballots based on their own choices. Garcia also called on the candidates to observe the rule on election paraphernalia such as tarpaulins. “A lot of posters were stripped from public places. And that one time ‘baklas’ [operation] was very successful,” Garcia said. Mary Jade Jadormio

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DAR. . . Continued from A4

The Department also reaffirmed its commitment to resolving pending agrarian reform cases, protecting awarded lands from illegal occupation and unauthorized use, and ensuring the timely delivery of services and benefits that ARBs rightfully deserve. Moving forward, DAR will continue to pursue agrarian reform

Steel mills. . . Continued from A3

“The Philippines must enforce its laws consistently, protect its people and environment, and defend its sovereign right to govern its territory free from foreign coercion,” Manhit said. He stressed that the government should pursue the investigations transparently, observe due process and hold violators accountable. Manhit’s statement comes amid government raids on Chineselinked steel plants in Pampanga, Misamis Oriental and Davao, where aut hor ities repor ted ly found radioactive materials, toxic waste, illegal emissions and substandard steel products. More than 40 other facilities are reportedly under investigation for suspected illegal activities, raising serious concerns for workers,

Sara. . . Continued from A3

“I think those national heroes whose aliases were referenced would probably be rolling in their graves after their nom de guerre was mentioned in the same context as the allegation of misuse of confidential funds,” prosecution spokesman Lanao del Sur Rep. Ziaur Rahman Alonto Adiong told a press briefing. Adiong explained that the real identities of individuals listed in acknowledgement receipts used to support the disbursement of confidential funds may be kept from public disclosure while still being made available to state auditors for verification. “This is an auditing problem,” Adiong said. “No amount of confidential activity can ever weaken the constitutional mandate of the Commission on Audit in finding out what happened to the money of the people.” He stressed that the controversy is not a question of patriotism but an auditing issue involving both the Office of the Vice President and the Department of Education, which Duterte previously headed as secretary. Deputy Speaker Paolo Ortega drew the distinction more directly, saying that Filipino heroes used aliases in pursuit of their struggle

that goes beyond land ownership—toward productive farms, stronger farmer organizations, sustainable livelihoods, and a better quality of life for Filipino farmers. Guided by Secretary Conrado M. Estrella III’s directive to “put the welfare of our farmers first,” DAR remains committed to making agrarian reform a pathway to greater productivity, economic security, and a more prosperous future for ARBs and their families. communities, consumers and the environment, Manhit said. He also warned against foreign information manipulation and interference aimed at distorting legitimate law enforcement operations, discrediting Philippine officials or evidence, and undermining public trust. The concern was earlier echoed by the Armed Forces (AFP) spokesperson for the WPS, Rear Adm. Roy Vincent Trinidad, who said Tuesday that foreign malign influence activities targeting the Philippines and the WPS have increased significantly since May. At the same time, Manhit cautioned against allowing legitimate law enforcement actions to be portrayed as “xenophobic.” “Legitimate Philippine enforcement must not be mischaracterized as xenophobia, nor should Chinese nationals or FilipinoChinese communities be unfairly targeted,” he said. for the country and the Filipino people, not to deceive the public or misuse government funds. “Our heroes used and were known by such names because they were fighting for the country,” Ortega, who represents La Union, said. For her part, Deputy Speaker Janette Garin acknowledged that aliases may be necessary to protect the identities of legitimate informants and individuals involved in sensitive operations. However, she emphasized that the use of aliases does not remove the need to establish the purpose of an operation, its results, and a verifiable audit trail. The impeachment trial has e x a m i ne d a c k no w le d ge me nt receipts containing questionable n a mes, i nc lud i ng M a r y Grace Piattos, Pusa, Pagong, and Ngitngit. “The question is: What was the money used for?” Garin, who represents Iloilo, asked. “If the output is under an alias, or if even the program itself exists only under an alias, then there is only one implication: the confidential funds may have been spent on a ghost or nonexistent activity.” The prosecution team maintained that the central issue remains whether public funds were properly spent, documented, and accounted for in accordance with government auditing requirements.

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1 IN 3 GEN Z YOUTH IN REGION TREAT AI AS IF THEY’RE FRIENDS By Lorenz S. Marasigan

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NE in three young people in Asia Pacific now interacts with artificial intelligence (AI) the way they would with a friend, according to new research from cybersecurity firm Kaspersky. The study found that 32 percent of Gen Z respondents in Asia Pacific (APAC) say they use AI as a friend—a higher proportion than any other generation. The behavior held across markets, led by Indonesia at 39 percent, followed by Vietnam at 35 percent, Thailand at 34 percent, Malaysia at 33 percent and India at 32 percent. Some 34 percent of Gen Z respondents said they use AI to discuss personal issues they would rather not share with other people, with Vietnam recording the highest share at 42 percent, followed by India at 37 percent and Indonesia at 36 percent. Gen Z remains the most active generation of AI users in the region. Half use the technology every day or almost every day—the highest share across all demographic groups—with 57 percent using it to search for information, 54 percent for studying and 50 percent for generating ideas. The research, however, also flagged a gap between reliance and safe use. While 45 percent of Gen Z respondents in APAC said they consistently take protective measures when interacting with AI services, 51 percent apply precautions only occasionally.

The inconsistency was most pronounced in Malaysia, where 54 percent said they take precautions only occasionally—the second-highest proportion after China at 60 percent—while Indonesia recorded the lowest at 43 percent. Kaspersky warned that conversations that feel private carry real risks, cautioning that anything entered into an AI service should be treated as non-confidential. The firm advised users to verify important information—particularly on educational, financial, legal or medical matters—and to avoid sharing passwords, payment details, identity documents and private correspondence with AI platforms. “An interaction that feels personal should not be mistaken for a private or fully reliable conversation,” said Vladislav Tushkanov, Group Manager at Kaspersky AI Technology Research Centre. “Young users need to combine their confidence and curiosity with habits such as checking information, protecting personal data and thinking critically about the responses they receive.” Adrian Hia, Managing Director for Asia Pacific at Kaspersky, said the findings underscored how deeply the technology has embedded itself in young people’s routines. “When one in three Gen Z users in APAC already sees AI as a friend, it is clearly becoming more than just a tool,” he said. “As that relationship becomes more personal, knowing what to trust, what to share and where to draw the line will be key to using AI safely and responsibly.”

Friday, August 28, 2026 A17

House panel files spending plan as ₧7.2-T GAB for 2027

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By Jovee Marie N. Dela Cruz @joveemarie

HE House Committee on Appropriations has formally filed the proposed P7.2-trillion national budget for 2027 as the General Appropriations Bill (GAB). House Committee on Appropriations Chairperson Mikaela Angela Suansing filed House Bill No. 10858—the House version of the 2027 National Expenditure Program (NEP), the spending plan originally submitted by the executive branch to Congress. “We have also formally filed the House General Appropriations Bill [HB 10858] this Wednesday. Your public servant remains committed to ensuring a thorough review of the national budget for the year 2027,” said Suansing. The filing comes as the House Committee on Appropriations enters the second week of its budget deliberations. Committee-level

hearings are scheduled to continue through September 8, after which the proposed budget is expected to be elevated to the House plenary for further debates and amendments. At P7.2 trillion, the proposed 2027 national budget is about 6 percent higher than the P6.793trillion national budget for 2026 and is equivalent to approximately 21.7 percent of the country’s gross domestic product. Education remains the biggest recipient of the proposed spending program, with the Department of Education allocated P976 billion. The allocation accounts for 13.55 percent of the

proposed national budget and covers basic education programs under DepEd. The education sector’s proposed funding also includes P61.1 billion for universal access to quality tertiary education, P38.1 billion for government assistance and subsidies, P30.6 billion for basic education facilities, and P12.1 billion for the Expanded Career Progression System. The proposed budget also provides for the continued expansion of career opportunities for teachers and the creation of additional teaching and non-teaching positions, including school guidance associates. Higher education, meanwhile, is allocated a combined P176.5 billion for the Commission on Higher Education and state universities and colleges. The Department of Public Works and Highways ranks second among the largest recipients at P644 billion, followed by the health sector at P353.8 billion. The health allocation covers the Department of Health, Philippine Health Insurance Corp. and specialty hospitals. Among the proposed health ex-

penditures are P133.3 billion for health facility operations, P25.4 billion for the National Health Workforce Support System, and P24.2 billion for medical assistance to indigent and financially incapacitated patients. The ZeroBalance Billing Program for national and local government hospitals is also allotted P19 billion. The Department of the Interior and Local Government is next with P332.5 billion, followed by the Department of National Defense with P328.8 billion. The transportation sector is allocated P302.2 billion, while agriculture agencies will receive a combined P261.7 billion. The Department of Social Welfare and Development is allotted P241.6 billion, including P99.1 billion for the Pantawid Pamilyang Pilipino Program and P51.6 billion for the Social Pension for Indigent Senior Citizens. By sector, social services continue to receive the largest share of the proposed budget at P2.456 trillion, or 34.1 percent of the total expenditure program. Economic services account for P1.833 trillion, followed by See “GAB,” A2

Bam calls out Arsi on ‘missing’ Cadena bill in Ledac priority list By Butch Fernandez & Justine Xyrah Garcia

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LRA CHIEF JOINS CREBA MEMBERSHIP MEETING AHEAD OF CEBU CONVENTION Land Registration Authority (LRA) Administrator Atty. Gerardo Sirios graces the Chamber of Real Estate and Builders’ Associations Inc. (CREBA) 5th General Membership Meeting on Thursday, August 27, 2026. The gathering forms part of CREBA’s preparations for its 2026 National Convention, themed “Beyond Shelter: Creating Communities, Transforming Lives,” which will be held in October in Cebu City. NONOY LACZA

PHL, SG eye labor deals on AI, migrants’ protection By Mary Jade Jadormio

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HE Philippines and Singapore are looking to strengthen labor cooperation on artificial intelligence (AI), care work and social protection as emerging technologies and crossborder employment reshape the region’s workforce. Department of Labor and Employment (DOLE) Secretary Francis N. Tolentino and Singapore Acting Minister for Manpower Jasmin Lau discussed possible areas of cooperation during a bilateral meet-

ing in Bangkok on Wednesday. AI emerged as a key area of discussion, with both countries focusing on how technological advances can support more productive, inclusive and future-ready workplaces. Manila and Singapore also discussed the portability of social protection benefits for migrant workers, an issue that has gained importance as workers move across Asean. Care work was another focus of the meeting as both countries considered its growing importance

amid changing labor and demographic conditions in the region. The countries highlighted the need for policies that promote decent work, skills development and adequate protection for workers in the care economy. Lau also recognized the contribution of Filipino workers in Singapore, particularly those engaged in health and allied services. Meanwhile, Tolentino also thanked Singapore for supporting Philippineled labor initiatives during the country’s Asean Chairship. The meeting was held alongside

the 29th Asean Labour Ministers’ Meeting and Related Meetings, where labor officials from the region are advancing the Asean Labour Ministers’ Work Programme 2026–2030. Both leaders affirmed their commitment to expand PhilippinesSingapore labor cooperation in AI, care work and social protection. The two countries said cooperation in these areas should ensure that technological and economic development translates into inclusive opportunities and stronger protection for workers.

HE Executive-generated list of priority measures for the next 12 months has been flagged for including several items that are nowhere near the early stages of lawmaking, while the bill adopting the blockchain for the national budget—touted to boost transparency and cut corruption—is omitted, even though it was passed on third reading by the Senate seven months ago. The glaring absence of the so-called blockchainthe-budget-bill was raised by its main author, Sen. Bam Aquino, before Secretary Arsenio Balisacan of DepDev at the briefing by the Development Budget Coordination Committee (DBCC) held at the Senate Thursday. “In our legislative agenda, there is a [section on] Governance and Anti-Corruption Reforms. I would like to ask Secretary Balisacan, parang kulang po ata [it seems to be missing something]. There is a Ledac [Legislative-Executive Development Advisory Council] measure which I championed and which we passed in the Senate. In 2025, it was listed as a priority measure; in 2026 it was still a priority measure. But now it seems the Cadena or Blockchain the Budget Bill was dropped. What’s the reason why it’s not on this list? Are you not supporting this bill, Secretary?” Aquino asked Balisacan. Balisacan explained that “in the longer list of the Ledac priorities, it’s still there, except when the Ledac met recently, the heads, the leadership of both Congress and Executive, they decided to shorten it at least for the next 12 months, to ensure that we get the measures that are so critical.” Aquino reminded him, “this has passed already on third reading here in the Senate. [Legislative Liaison] Secretary Joey [Salceda] is also here. This has been passed on the Senate. If you want it passed in 12 months, this is one of the measures that can be passed right away. So, I am surprised, was it de-prioritized? This was a priority measure in 2025, number 3 even on the Ledac list in 2025. Now, in 2026, it’s already in the long list.” Referring to newly installed budget chief de Leon, Aquino added, “Secretary Kim here was our consultant, we consulted with him on this bill before he became DBM Secretary.” Aquino stressed that “this bill...will put the budget on blockchain, even the contractors, even the price of cement, of nails, of all purchases of government...it has been discussed in 2025 as very important. I want to understand: why is it not in the priority measure of the DBCC?” Balisacan explained, “No, the way we understand this prioritization measure, Mr. Chair, is that the— all the other measures that are in the priority list can be advanced, with the efforts of all members of

Congress and our leadership, the Executive branch. When we shortened the list, Mr. Chair, we know that those on the final ends, have finished Bicam, or are just for signing, we don’t need to emphasize...” To this, Aquino noted that “many measures on this list are not even in a committee report yet. Philippine Budgeting Code, is there a committee report on that already? None yet. The Right to Information, that one has. But [the bill on] Political Dynasty, is still for interpellation here in the Senate. The Party-List [reform bill] is still up for discussion. But Cadena has been passed since—for seven months already in the Senate.” And, he added, “we know that if the Executive and the DBCC and the people here push it, we know it will get passed. So we’re asking for your support, Secretary. Let’s get this passed.” The senator said that so many groups “from inside the government, outside the government,” have said they want this measure passed. I am wondering why there seems to be no hurry on this one? At the height of the flood control scandal, we all agreed we would push for this, and push for full transparency. “So, I’m just very—I’m bothered, Mr. Secretary, that it’s not among the top priority measures, considering it’s almost near the finish line. It also passed already the Committee on Science and Technology in the House. Passing the Cadena, he said, “can be a legacy of this administration and this Senate and Congress. That finally, we put all of the—all of these measures on the blockchain.” Balisacan promised, “we’ll make the representation, Mr. Chair, we’ll bring that issue, that concern to the leadership of Ledac.” When pressed further, Balisacan told reporters he would recommend including the Cadena bill in the list of priority measures to be passed before June 2027. The chief economist, however, stressed that its inclusion would ultimately depend on the decision of the Legislative-Executive Development Advisory Council (Ledac). Ledac, established under Republic Act 7640, serves as the President’s advisory body on priority policy and legislative matters supporting long-term national development. The Department of Economy, Planning, and Development (DepDev) has served as its principal secretariat since 1992. Balisacan also said the inclusion of the blockchain bill in the reprioritized list would depend on whether lawmakers have enough time to tackle the measure. “The only problem is whether they will have enough time, because they have an impeachment court, right?” he said. Nevertheless, Balisacan said he could “recommend and see it through.”

A18 Friday, August 28, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Moody’s warning: PHL can’t afford political instability

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OODY’S is keeping the Philippines at a solid “Baa2” investment grade, but the agency is raising red flags over political drama. It warned that impeachment proceedings against VP Sara Duterte and premature 2028 campaign maneuvering could undermine economic stability. (Read the BusinessMirror story: “Political noise could stall fiscal reforms,” August 25, 2026). The message from Moody’s is unambiguous: political noise is not merely an inconvenience—it is an economic risk factor with measurable consequences. When a ratings agency explicitly warns that “political developments weighing on policymaking” could put “downward pressure on the rating,” it is signaling that the theater of Philippine politics is beginning to obstruct the work of governance. And in the world of sovereign credit, perception is reality. Investors do not wait for a downgrade to flee; they move at the first whisper of institutional decay. The timing of this warning is particularly consequential. The Marcos administration has staked its economic legacy on fiscal consolidation—promising to narrow deficits, manage debt, and implement structural reforms that previous administrations postponed. Yet the government’s announced tax package remains unlegislated, and Moody’s correctly identifies that any delay or dilution of these revenue measures would slow the path to fiscal health. What makes Moody’s warning especially noteworthy is its specificity. The agency is not issuing vague platitudes about “political risk” in the abstract. It is pointing to concrete developments—the impeachment of the Vice President and the premature 2028 campaign dynamics—as potential disruptors to reform implementation. This is a distinction with a difference. It suggests that international observers see the same thing many domestic analysts do: a political system increasingly unable to separate governance from grudges, and policy from personality. Finance Secretary Frederick Go and National Treasurer Sharon Almanza are correct that the affirmation reflects strong macroeconomic fundamentals—robust access to funding markets, adequate foreign reserves, and proactive debt management. The BSP has maintained its credibility on inflation targeting and financial stability. These are genuine strengths that provide buffer against external shocks. But economic fundamentals do not exist in a vacuum. They require political stewardship. The very institutions that Moody’s cites as strengths—fiscal discipline, reform implementation, governance quality—are precisely what political instability threatens to erode. The path to an “A” rating—the stated ambition of our economic planners— runs through political stability, not around it. Moody’s has laid out the conditions for an upgrade: sustained fiscal consolidation that puts debt on a “firm downward trajectory,” stronger growth through higher private investment, and productivity gains. These are achievable goals, but they require a political environment where capital formation is encouraged rather than deterred by policy uncertainty. There is an irony here that our politicians would do well to contemplate. The impeachment proceedings and early election maneuvering are presumably being pursued to secure political advantage. Yet if they trigger the downgrade that Moody’s warns is possible, the economic consequences—higher borrowing costs, reduced investment, currency pressure—will harm every Filipino, including the very politicians engineering these dramas and the constituencies they claim to represent. The Marcos administration finds itself in a delicate position. It must defend its policy agenda against opponents while avoiding the perception that political vendettas are distracting from economic priorities. The affirmation of the credit rating provides temporary cover, but the stable outlook is conditional. Moody’s has effectively placed Philippine politics on watch. For a nation that has worked diligently to escape the “sick man of Asia” label and achieve investment-grade status, the stakes could not be clearer. The Philippines can keep building toward the coveted “A” rating, or it can fall into the trap of perpetual campaigning. It can’t do both. Moody’s has made its position clear. The issue now is whether political leaders are prepared to listen.

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Bill Gates warns of a turbulent AI era: ‘There’s not even a plan to have a plan’ By Angel R. Calso

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N a nearly 6,000-word essay published on his personal website this week, Microsoft co-founder and philanthropist Bill Gates issued one of his most forceful warnings yet about the risks of artificial intelligence. Titled “The turbulent AI era is here. The choices we make now are critical,” the piece argues that society is barreling into a period of profound disruption with little preparation. (https://www.gatesnotes.com/a-turbulent-ai-era-and-critical-choices-to-make).

Gates describes the coming transition as “one of the most turbulent times in human history,” even under the best circumstances. “Right now, we are not preparing for it,” he wrote. “I don’t see evidence that leaders, experts, and communities are confronting the challenges adequately. There is no plan to ease the entry into the AI era.” In a companion video released alongside the essay, Gates sharpened the critique further, stating that there is “not even a plan to have a plan.” He added that the world still has a window to act “before unemployment rises sharply, communities are hurting, and public trust has eroded.” Gates has long been an optimist about technology’s potential to improve lives, from personal computing to global health. He continues to highlight AI’s possible upsides:

accelerating scientific discovery, improving healthcare and education, and potentially serving as “the greatest equalizer ever invented.” Yet he now stresses that the same technology could become “the worst source of injustice” if left unmanaged. Unlike earlier technological shifts, such as the move from agriculture to industrial or office work that unfolded over generations, AI advances at a “mind-blowing” pace and adapts to humans rather than requiring humans to adapt to it. It runs on existing devices, uses natural language, and can improve rapidly. Gates notes that AI is already crossing thresholds once viewed as distant warning signs—easier cyberattacks, biological risks, emotional dependency on chatbots, widespread job displace-

Gates emphasizes that waiting for crises to become obvious will make effective policy far harder. The choices made now, he argues, will determine whether AI lifts humanity or deepens inequality and instability. ment, and potential loss of control over advanced systems.

Key risks outlined

GATES focuses on several interconnected dangers: Mass job displacement: Both white-collar roles (customer service, software engineering, legal support, medicine) and blue-collar work (via robots in manufacturing, construction, and hospitality) face automation. When AI produces nearerror-free output, companies will have strong economic incentives to reduce human oversight. The result, he warns, could be permanent job losses and far fewer new positions than those eliminated, creating social and economic upheaval on a scale without historical precedent. Security and safety threats: AI lowers the barrier for cyberattacks on critical infrastructure (hospitals, power grids, financial systems) and could make it easier to design dangerous

Trump’s policies find an unlikely beneficiary: Canadian stocks By Geoffrey Morgan

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ERE minutes after markets opened in Toronto on Monday, US President Donald Trump said in a social media post that he would double tariffs on Canada’s automotive sector and he has proceeded to follow up with a barrage of insults targeting the US’s neighbor to the north.

Rather than sparking a selloff, money continued to pour into the Canadian stock market, as it has all year. The episode highlights a stark irony: Trump’s policy choices actually have helped the Canadian market outperform the US for two straight years, even as he ratchets up his verbal attacks. The iShares Core S&P/TSX Capped Composite Index ETF, the largest exchange traded fund listed in Toronto that tracks Canadian stocks, saw another day of net inflows on Mon-

day as it heads for an 11th straight month of positive flows. And it’s not just Canadians buying in their own market. Statistics Canada data shows net inflows into Canadian securities every month this year. “These things have kind of lost their shock and awe value,” Neil Linsdell, head of investment strategy in Canada for Raymond James Ltd. in Montreal, said of Trump’s tariff threats. Linsdell is keeping his target on the S&P/TSX Composite Index at 37,000 points for the year, expecting tariffs to be both short-lived and a

The top-performing stock in the Canadian index this year, Bird Construction Inc., has climbed 134 percent as it benefits from Ottawa’s response to Trump’s tariff threats. Prime Minister Mark Carney has pushed to accelerate major infrastructure projects— including new mines, pipelines and port expansions—to diversify trade away from the US. That has boosted construction firms and industrial equipment dealers, like Caterpillar-dealer Finning International. relatively low probability of a fullblown escalation. Indeed, strategists across Toronto’s Bay Street, including at the Bank of Nova Scotia and IG Wealth Man-

biological agents. Governments might also deploy AI for lethal force without human decision-making in the loop. Advanced systems could eventually act against human interests. Social and psychological harms: AI companions and chatbots risk becoming highly addictive, especially for children and teenagers. By offering friction-free interaction, they may undermine critical thinking, social skills, and real human relationships. Deepfakes and personalized misinformation further erode the ability to distinguish truth from falsehood. In interviews around the essay’s release, Gates expressed frustration that the tech industry often downplays these risks publicly while privately acknowledging them, driven by competitive and fundraising pressures. He has called AI “the most dangerous tool ever invented” in this context.

Calls for action

GATES does not expect a global slowdown in AI development—the economic and geopolitical incentives, particularly competition between the United States and China, are too strong. “If someone had a credible plan for slowing down AI advances globally, I would likely support it. However, I don’t think that’s going See “Bill,” A19

agement, encouraged investors to “stay calm” following Trump’s latest tariffs and insults targeting Canada. Data shows traders didn’t need the encouragement, as total trading volume on the Toronto Stock Exchange dropped below the 100-day moving average. “We’ve seen this movie before, straight out of the bully/bluff playbook,” said Brian Madden, chief investment officer at First Avenue Investment Counsel Inc. He said the breakdown in trade talks will have a short-term effect on investor sentiment in Canada and direct hit to trade-exposed sectors. On the other hand, Madden said he sees a handful of other Trump administration policies providing a boost to a swath of Canadian stocks. The Iran war has lifted oil prices, benefiting the energy proSee “Trump,” A19

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Nordic alliance said to explore region-wide stock exchange By Sara Sjolin, Kirsi Heikel & Rafaela Lindeberg

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OME of the Nordic region’s biggest companies and wealthiest investors are working on a proposal to create a single, unified stock exchange.

The proposal is one idea the group, called Nordic Compass, is considering to more closely integrate the region’s capital markets, according to people familiar with the discussions. The industry alliance, inspired by Mario Draghi’s two-year-old report on European competitiveness, is discussing ways to make the Nordic region more dynamic by breaking down national barriers and help the region take full advantage of its economic and industrial strength. Partners include Wallenberg Investments AB, EQT AB, Nordea Bank Abp, Nasdaq Inc, SEB AB and the Novo Nordisk Foundation. Capital markets are one of four key areas of focus, with members exploring how to harmonize the regulatory frameworks across Sweden, Denmark, Norway and Finland, the people said, asking not to be identified because the plans aren’t public. One option under consideration is to go significantly further and consolidate the existing national exchanges into a single Nordic bourse in an effort to attract more capital, encourage more initial public offerings and strengthen the region’s position amid potential consolidation elsewhere in Europe, the people said. The creation of a unified Scandinavian capital market could face significant hurdles, including securing the support of other market infrastructure providers not currently involved in the initiative. While Nasdaq controls most of the region’s national bourses, other players such as Euroclear Holding NV provide much of the plumbing needed to settle trades and exchange securities for cash. Euronext NV also owns the Oslo stock exchange, so any arrangement would require cooperation from multiple parties. Representatives for Nasdaq and Euronext didn’t respond to emailed requests for comment. The alliance plans to present its vision at a summit in Gothenburg in November. The details are still being worked out, however, and the final proposal may change, the people said. “Nordic Compass’ Capital Markets Track is working to improve opportunities to raise capital to support competitiveness across all stag-

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to happen,” he wrote. Instead, he urges immediate steps to manage the transition: Create new national institutions that coordinate policy across employment, security, education, health, taxation, and other domains, since existing bureaucracies are siloed and ill-equipped for a technology with such broad impacts. Establish an international framework modeled on nuclear inspections, aviation safety standards, and ozone-layer agreements to address cross-border risks. Consider economic measures such as taxing AI usage or robots (to offset the current tax advantages of automation over human labor) and

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ducers that account for a nearly 17 percent weighting in the S&P/TSX. Another tailwind: Gold prices have rallied amid rising US government debt and the Treasury Department’s efforts to rein in bond yields, lifting the Canadian benchmark’s materials sector, which weighs in at nearly 20

Capital markets are one of four key areas of focus, with members exploring how to harmonize the regulatory frameworks across Sweden, Denmark, Norway and Finland, the people said, asking not to be identified because the plans aren’t public. es, from start-up, venture, growth and scale-up to IPOs, as well as the ecosystem for Nordic listings,” said Christian Clausen, BlackRock Inc’s Nordic chairman and former CEO of Nordea, who chairs the track. “This includes analyses of a range of potential initiatives, including issues related to liquidity,” he said, adding that “the work is still at an exploratory stage, and no agreement has yet been reached on specific initiatives or conclusions.” The push comes as the Nordic countries struggle to harness capital into funding for fast-growing companies, prompting some of the region’s most promising businesses to seek financing or listings in the US instead or relocate elsewhere. Nordic pension investors and sovereign wealth funds manage almost $4 trillion and receive more than $175 billion in annual inflows, according to Nordic Compass, but despite this financial strength they struggle to create a capital market capable of funding companies as they scale. Some Nordic companies that have opted to move to the US as they grow bigger include buy-now-pay-later giant Klarna Group Plc., music-streaming platform Spotify Technology SA and Oura Inc., the maker of healthtracking rings founded in Finland. Rather than producing a set of recommendations on European competitiveness, Nordic Compass intends to focus on a limited number of initiatives that can be implemented and scaled relatively quickly. “The Nordics have the capital, the companies, and the innovation. The opportunity lies in connecting it more effectively together,” Nordic Compass said in a post on LinkedIn. “Achieving this requires coordinated action.” With assistance from Pablo Mayo

Opinion BusinessMirror

Glacier collapse, avalanche likely fueled deadly Nepal flood By Lili Pike

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CIENTISTS are rushing to understand the exact causes of the deadly flash flood that sent a wall of mud and water tearing through Himalayan river valleys on the China-Nepal border.

What’s clear so far is that a huge chunk of a glacier collapsed and that a 5.2 magnitude seismic event occurred at around 8:37 a.m. local time Wednesday, which in turn led to a catastrophic flow of debris downstream, the US Geological Survey said. “W hat we’ve certainly confirmed—there was a large ice avalanche, probably a mixture of ice and rock, which detached and then became fluid and then transformed into this devastating flood,” said Simon Allen, a research associate at the University of Zurich who studies glacial hazards in the Himalayas. The mountains have been shrouded in clouds, meaning the precise chain of events is likely to be more fully understood once satellites allow a clearer examination. Initially, a magnitude 4.4 earthquake had been reported, though a subsequent analysis of imagery and nearby seismic stations confirmed the incident was actually a glacial collapse and debris flow, the USGS said. One avenue of investigation is whether a separate larger ice collapse occurred on an adjacent slope, triggering the smaller incident and prompting the flash flood. Scientists at the Nepal-based International Centre for Integrated Mountain Development are working to confirm a preliminary as-

sessment that a large volume of ice and rock debris entered the Lende Khola, a tributary of the Bhote Koshi River, causing an event that triggered an abrupt surge of water, sediment and boulders downstream. The same area was impacted last July by a major flood, according to the center. “It operated like an inland tsunami, traveling nearly 170 kilometers [106 miles],” and impacting a major highway, said Ruth Gamble, director of La Trobe Asia and lead author of Rivers of the Asian Highlands: from Deep-Time to the Climate Crisis. “It is a popular route for international tourists travelling from Kathmandu to Lhasa.” Researchers have long sounded alarm bells on the vulnerability of the so-called Third Pole to warming temperatures, and about the rising potential for disasters. The high-altitude region, with a large population spanning parts of China, India, Nepal and several other countries across the Tibetan plateau, is warming at nearly double the global average pace. That’s leading to rapid glacial retreat, with ice masses in the area shrinking twice as fast since 2000 compared to the previous decades, according to a 2019 study. Records in the region don’t extend back long enough to say with statistical certainty whether ice avalanches

Scientists at the Nepal-based International Centre for Integrated Mountain Development are working to confirm a preliminary assessment that a large volume of ice and rock debris entered the Lende Khola, a tributary of the Bhote Koshi River, causing an event that triggered an abrupt surge of water, sediment and boulders downstream. The same area was impacted last July by a major flood, according to the center. like the one that occurred Wednesday are becoming more frequent, though researchers say that’s the pattern they are observing. Glacial lake outburst floods— when water bursts through the ice or rock holding it in place—“are increasingly common in alpine regions globally as our climate changes,” said Adrian McCallum, a discipline lead in engineering at the University of the Sunshine Coast. As the Nepal disaster struck, many experts in the field were convening in Chengdu, China, for an annual summit to discuss how to mitigate these very risks. “When you put together all the physical understanding that the glaciers are retreating, permafrost is thawing, it certainly adds up,” said the University of Zurich’s Allen. Experts are concluding “that we are seeing and we are expecting these events to become more frequent,” he said. Wednesday’s incident follows a

Shapiro clashes with RFK Jr. after Pennsylvania measles deaths By Liz Skalka & Jessica Nix

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ENNSYLVANIA Governor Josh Shapiro blamed US Health Secretary Robert F. Kennedy Jr. for sowing distrust in vaccines as the state confronts a widening measles outbreak that has killed two people and infected hundreds of others.

designating certain “Human Reserved” jobs—roles that machines could perform but that society deliberately keeps for people, similar to nature reserves. Gates emphasizes that waiting for crises to become obvious will make effective policy far harder. The choices made now, he argues, will determine whether AI lifts humanity or deepens inequality and instability. The essay and accompanying comments mark a notable shift in tone for Gates, who in earlier years expressed more measured optimism about managing AI’s disruption. His latest intervention adds a prominent voice to ongoing debates about regulation, safety, and the societal readiness for transformative technology—debates that remain unresolved as AI capabilities continue to advance rapidly.

Shapiro said Kennedy’s rhetoric and efforts to reshape federal public health policy had contributed to confusion about vaccines at a time when immunization rates are falling. The governor said Kennedy called him to offer federal assistance, which he declined. “There’s real life consequences to spreading misinformation,” Shapiro said at a news conference on Tuesday. Kennedy disputed Shapiro’s claims that he had disseminated misleading information about vaccines in a social-media post, saying the Trump administration was “working to restore public trust.” The Pennsylvania Department of Health said this week that two unvaccinated people had died of measles in Lancaster County amid an outbreak that has infected more than 400 people, including 94 new cases in the past seven days. The deaths were the first related to measles in Pennsylvania in more than 35 years, and first US deaths linked to the disease this year. Vaccination rates in Pennsylvania have slipped below levels that public health experts say are needed to reliably prevent outbreaks. About 92.7 percent of kindergartners in the state received the required two doses of the measles, mumps and rubella

vaccine during the 2025-2026 school year, short of the threshold associated with community immunity. In Lancaster County, the kindergartner rate was about 86 percent. Shapiro, who is seen as a potential contender for the Democratic presidential nomination in 2028, escalated his criticism of Kennedy in a social-media post on Wednesday, accusing him of going down “a rabbit hole of conspiracy theories and false claims” during their phone call. “Secretary Kennedy’s actions to dismantle public health agencies and his language that undermines confidence in vetted medical guidance are contributing to these kinds of outbreaks,” Shapiro wrote. Kennedy rejected the suggestion that he was responsible for Pennsylvania’s declining vaccination rate, arguing that much of the drop predated his tenure and that distrust stemming from government actions during the Covid-19 pandemic had damaged confidence in vaccines. “It’s unfortunately true that the government lockdowns, deceptions, manipulation, and overreach during Covid severely damaged public faith in the vaccine program,” Kennedy wrote. “Governor Shapiro’s press conference was an example of the same species of gaslighting.”

percent of the S&P/TSX. “The TSX is performing not in spite of the Trump policies, but because of the Trump policies,” said Philip Petursson, chief investment strategist at IG Wealth Management in Toronto. Put it all together and the Canadian stocks benchmark is on pace to outperform the S&P 500 Index for a second straight year, rising 16 percent so far in 2026 in US dollar terms

compared with a 12 percent gain for the US gauge. The S&P/TSX, which closed at another record on Tuesday, hasn’t beaten the S&P 500 in backto-back years since the recovery from the financial crisis, in 2009 and 2010. The top-performing stock in the Canadian index this year, Bird Construction Inc., has climbed 134 percent as it benefits from Ottawa’s response to Trump’s tariff threats. Prime Minister Mark Carney has

pushed to accelerate major infrastructure projects—including new mines, pipelines and port expansions—to diversify trade away from the US. That has boosted construction firms and industrial equipment dealers, like Caterpillar-dealer Finning International. “That momentum is going to continue because it seems like we don’t have a dependable trade partner,” said Laura Lau, chief investment of-

Cerqueiro, Charles Daly, Heidi Taksdal Skjeseth and Charles Capel /Bloomberg

Friday, August 28, 2026 A19

The Pennsylvania Department of Health said this week that two unvaccinated people had died of measles in Lancaster County amid an outbreak that has infected more than 400 people, including 94 new cases in the past seven days. The deaths were the first related to measles in Pennsylvania in more than 35 years, and first US deaths linked to the disease this year.

pattern of similar events which have hit the Himalayan region in recent years, including a landslide that triggered a flood in Chamoli, India, in 2021, which left about 200 people dead or missing. “The increasing frequency of cryosphere hazards is now visible more than ever,” said Mohd. Farooq Azam, a senior cryosphere specialist at the ICIMOD. “The pace is so fast that our ongoing efforts are not able to cope with this rapid change.” Regional governments should “take some joint, consolidated steps to react to such cross-border hazards,” he said. Communities have been evacuated ahead of the collapse of other glaciers, including the major slide that buried the Swiss village of Blatten, in recent years. “The Himalayan Region has had a history of deadly flash floods. The event appears to have occurred without warning, catching those downstream unaware,” said Andrew Gissing, chief executive officer of Natural Hazards Research Australia. “Early warning saves lives, and there are efforts globally to improve early warning systems.” Such evacuations could have spared lives Wednesday had the right equipment and communications been in place, according to Allen. “This is looking like it will be the biggest Himalayan disaster that we’ve seen. So I really hope this will be a turning point—that there will be more focus, more emphasis now on reducing the risks for these communities,” Allen said. With assistance from Rachael Dottle and Krishna Karra / Bloomberg

to more people skipping it. During a 2025 outbreak in Texas, Kennedy touted unproven remedies including vitamin A and cod liver oil to treat a measles infection. Two unvaccinated children died of measles last year, the first US deaths from the disease in a decade. Kennedy wrote in his post Tuesday that the rubella component of the MMR shot contained aborted fetal cells, a common anti-vaccine talking point. Some people who reject inoculations use the claim to obtain religious exemptions from getting vaccinated. Some vaccines developed in the 1960s used human cell cultures from two aborted fetuses, according to the American Academy of Pediatrics. A purification process filtered the shots in production and no fetal tissue remains in the final product. “At a time when the global public health goal is to reduce measles deaths, it is unacceptable that federal public health leaders have failed to meet this moment with the urgency, visibility, and leadership it requires,” said James Campbell, chair of the AAP’s committee on infectious diseases. While no vaccine is perfect, the MMR shot is one of the most effective on the market. The vaccine is 97 percent effective after two doses. Pennsylvania’s health department said it has administered 3,100 MMR vaccines since the outbreak began in late April, and 4,600 total in 2026.

A spokesperson for the US Department of Health and Human Services didn’t respond to a request for comment. Measles is a highly infectious respiratory disease that causes flulike symptoms and red splotches on the body. Severe cases can lead to pneumonia or death, according to the US Centers for Disease Control and Prevention. Between one and three people out of 1,000 die from an infection. This year, the US has been grappling with a nationwide outbreak of the disease that has infected 2,777 people across 45 states, a level not seen in more than three decades, according to the CDC. US vaccine policy has been upended by Kennedy and President Donald Trump. Earlier this month, Trump signed an executive order asking for the combined vaccine for measles, mumps and rubella to be split into three separate shots. Health experts say there is no benefit to splitting up the shot, and that it could lead

With assistance from Rachel Cohrs Zhang/ Bloomberg

ficer at Brompton Corp. The recent stretch of gains has some investors taking profits. “One thing I’ve done is just gotten a little bit more defensive across the board as we head into September, which is normally a little bit more volatile anyway,” said Greg Taylor, chief investment officer at PenderFund. “This is a good chance to be a little more defensive.” Still, Taylor said he expects any

weakness to be short-lived. He intends to redeploy cash if there’s a broader market pullback and a return to the negotiating table by Canadian and American officials. “We could be setting up for a decent run into year end,” he said. That’s a view shared across Bay Street. “Relief from the tariffs will be like a sugar rush and the markets will rip when we get this behind us,” First Avenue’s Madden said. Bloomberg

A20 Friday, August 28, 2026 | Editor: Jun Lomibao

Sports BusinessMirror

mirror_sports@yahoo.com.ph

GILAS ALL-PINOY AGAINST JORDAN Cone said. “He’s a game changer.” The 6-foot-4 Harris is averaging 27 points, 4.2 rebound and 2.7 assists in the qualifiers that gave Jordan a 5-1 win-loss record in Group E, where the Philippines is at the bottom with a 2-4 record. The Jordan game is set at 8:30 p.m. and up next for the Philippines is Iran on Sunday at 8 p.m. in the same venue. Gilas’s final 12 are Sotto, Dwight Ramos, Juan Gomez de Liaño, CJ Perez, Chris Newsome, Justine Baltazar, June Mar Fajardo, Scottie Thompson, Troy Rosario, Kevin

Quiambao, Carl Tamayo and AJ Edu. R amos said he expect a highlymotivated Jordan side. “We played Jordan before many times and has fine individual players,” he said, adding that the 28-year-old Harris is a threat they need to muster. Josef Ramos

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Asian Games three years ago, giving the continental back to the Philippines after 61 years. That mission to get back at the Philippines was reiterated by Her Royal Highness, Princess Ayah bint Faisal—president of Jordan’s volleyball federation and a board member and representative to the Asian Volleyball Confederation and the FIVB. “You beat us for the gold medal in Hangzhou—but remember, we defeated your team in the FIBA World Cup qualifiers,” Faisal told the BusinessMirror at the sides of the AVC Gala in Bangkok earlier this month. “We’ll make sure we beat you again.” Jordan edged the Philippines, 91-90, in the FIBA World Cup qualifiers on February 27, 2023, at the Philippine Arena. What could keep Cone and the rest of the team at the edge is Jordan’s naturalized player, Jalen Harris, who played for the Toronto Raptors in the 20202021 season of the National Basketball Association. “Jordan is playing at a general level and their naturalized player, Jalen Harris, is incredibly good,”

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NU topples DLSU in UAAP Mobile Legends action

ATIONAL University (NU) avenged last season’s heartbreak by dethroning De La Salle University, 2-1, to capture the 2026 University Athletic Association of the Philippines Esports Mobile Legends: Bang Bang crown on Wednesday at the MVP Studios in Mandaluyong City. De La Salle appeared to still have NU’s number earlier in the tournament, sweeping the Bulldogs, 2-0, in the group stage, but turned the tables when it mattered most, beating the Green Archers in the finals to capture its first UAAP ML: BB championship. NU head coach Ernest Del Rosario described the championship as a sentimental triumph for a team that used the pain of last season’s finals defeat and its group-stage loss to De La Salle as motivation to complete its redemption. “This championship holds great sentimental value for the team,” Del Rosario said. “As a coach who had just joined the squad, I witnessed how hard they worked—especially

Brennan wins stage, Pogacar keeps Vuelta a Espana overall lead

Britain’s Matthew Brennan captures his second win at the Vuelta a Espana in a sprint finish in Stage 5 on Wednesday—a 173.3km route finishing in Roquetes Terres de l’Ebre as Tadej Pogacar finishes with the main bunch to retain his general classification lead as he’s out on a mission to sweep all three Grand Tours. VUELA A ESPAÑA PHOTO

THE victorious National University (NU) esports bets with league officials—(from left) esports commissioner Cherry Uy-Valdenor, MOONTON Games Community Relations Executive Sean Manlupig, Patrick Palacio, coach Ernest Del Rosario, Johann Estacio, Student Manager Christian Ico, Rendell Bangsal, Harold Blas, Kirk Herrero, Prince Paculan, Angelo Alvarado, NU coordinator Salvador Benedicto, De La Salle representative Emmanuel Calanog and Season 89 president Mark Molina. UAAP PHOTO after their loss last season.” “We also suffered a defeat in the series prior to the semi-finals, now,

the difference is like night and day as we became focused, truly locked in to secure the championship,” he added.

Ironman Laoag opens new chapter in PHL triathlon

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AOAG City is set to open a new chapter in Philippine triathlon history as it welcomes Ironman 70.3 in 2027 bringing one of the world’s most recognized endurance events to Ilocos Norte for the first time and launching what promises to be a landmark season for the country’s growing triathlon community. The inaugural Ironman 70.3 Laoag will mark the first time the Ilocos Norte capital hosts a triathlon of this scale, offering athletes a fast,

accessible course while introducing them and their families to a destination rich in history, culture, cuisine and northern hospitality. Set against the distinctive character of Laoag, the race will combine a 1.9-km swim, 90-km bike and 21.1-km run with a destination experience unlike any other on the Philippine Ironman calendar. From the waters of Sadiri Beach to the wide northern roads and historic streets at the heart of the city, athletes can expect a course

shaped by both speed and scenery. Registration is now open. For details, visit www.ironman.com/ races/im703-laoag. Known as the Sunshine City, the Ilocos Norte capital offers a warm, almost always-summer character that lends itself naturally to a race weekend, while its relatively compact urban setting provides athletes and spectators an accessible base from which to experience the best of the city and the wider province. Laoag City Mayor James Bryan

The Bulldogs seized control of Game 1 from the get-go, building a commanding 9-1 kill advantage by the Alcid said the event provides the city with an opportunity to introduce its character and hospitality to a much wider international audience. “We are proud to welcome Ironman 70.3 and the athletes, families and supporters who will come to experience Laoag City,” Alcid said. “This event gives us an opportunity to share what makes our city special— our history, our culture, our food, our people and the genuine warmth with which we welcome our visitors.” For organizing Sunrise Events Inc., the race represents an opportunity to expand the Philippine Ironman experience into a destination with its own distinct character.

Cool Smashers favored to retain Invitational title

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DWIGHT RAMOS (right) and his Gilas Pilipinas teammates need to limit the production of Jordan’s naturalized player Jalen Harris, a certified National Basketball Association veteran. FIBA PHOTO

HERE won’t be the usual go-to Justin Brownlee around when the push comes to shove as the Philippines plays Jordan without its injured naturalized player on Friday night in the fourth window of the FIBA 2027 World Cup Asia Qualifiers at the SM Mall of Asia Arena in Pasay City. But head coach Tim Cone isn’t treating Brownlee’s absence as a liability but a motivation. “I think all of us are excited to be playing this window as an All-Filipino unit,” Cone said. “The challenge will be great, but the winning will be sweeter.” “Everybody is really motivated to play and Kai certainly gives us a chance,” he added. Sotto, the Philippines tallest agile player thus far at 7-foot-3 with now plenty of international experience, will be around to man the shade, thus complimenting the tough tasks on Cone’s big men against the physical Jordanese. Jordan, for sure, is out for vengeance, too—Cone’s Gilas beat the Jordanians, 70-60, in the final of the Hangzhou 19th

THE league unveils its new logo during its 10th anniversary celebration. PVL IMAGES

eighth minute behind Johann Estacio’s four kills and five assists. Not even Joshua Tating’s Lord steal in the ninth minute could halt NU’s charge, as the Bulldogs cruised to a 14-minute victory after Estacio secured a Savage in the final team fight. De La Salle, however, showed its championship poise in Game 2, pulling off a dominant draft and building an advantage of as much as 8,000 gold before forcing a series decider with a 17-minute victory. Estacio suffered an early setback in Game 3, dying in the opening minute as Tating secured a double kill during a top-lane ambush. The NU star quickly bounced back, though, going on a rampage and finishing with eight kills, three assists, and just one death as the Bulldogs overcame their previous struggles against La Salle to clinch the title in 13 minutes. Estacio was named grand finals MVP after a near-perfect performance in the championship series.

REAMLINE enters Monday’s opening of the six-team Premiere Volleyball League Invitational as the team to beat—but hardly as a sure bet. The Cool Smashers are coming off an impressive two-game run in the PVL On Tour Showdown, have retained an almost intact roster and, most significantly, have added the experience and imposing presence of Sachi Minowa, formerly Jaja Santiago. The 6-foot-5 middle blocker made her much-awaited return to the local volleyball scene last weekend, scoring six points in Creamline’s three-set romp over Galeries Tower in Victorias City, Negros Occidental. “We’re ready, especially now that Jaja is with us. If we can play well, I think it will make things easier for us,” Creamline head coach Sherwin Meneses said. “Of course, everyone will be watching us, so as a team, we have to be ready. With Japan and Creamline, people will definitely be keeping an eye on us.” It was Minowa’s first game on local soil since she helped Cher y Tiggo capture its first and only PVL championship in the 2021 Open Conference inside the Ilocos Norte bubble. And if her first outing is any indication, Minowa looks more than ready to make the most of her limited stint with the Cool Smashers. She will leave for the US after the Invitational to join the San Francisco Signal in League One Volleyball, making this short window an even bigger opportunity for Creamline to maximize her presence at the net. But Minowa is only one of the problems the Cool Smashers can pose. Meneses has a truckload of proven stars capable of taking over a match and a deep bench ready to answer whenever called upon—Jema Galanza, Tots Carlos, Michelle Gumabao, Pangs Panaga and Bea de Leon. Newcomer Ishie Lalongisip adds another weapon to an already formidable lineup and then there is Alyssa Valdez, the team’s heart and soul, who continues to show flashes of the vintage form that made her one of the league’s biggest stars. The PVL, meanwhile, is turning the page on a landmark decade with a new identity and an even bigger mission: To build on 10 years of growth and help take Philippine volleyball to greater heights. CREAMLINE has a tower of power in Sachi Minowa, formerly Jaja Santiago, in the Invitational conference. PVL IMAGES

Editor: Jennifer A. Ng

Companies BusinessMirror

CREC: PROJECT SHOWS CROPS, SOLAR PANELS CAN CO-EXIST By Ada Pelonia @adapelonia

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UY, Batangas—Citicore Renewable Energy Corp. (CREC) wants to scale up its agrosolar initiative, touted as the first of its kind in the Philippines, to optimize the use of land occupied by solar panels for agricultural purposes. Citicore Foundation head Czarina Brodit-Valeros said the firm’s initiative integrates agricultural crop production alongside solar power generation to maximize land productivity. “Through this initiative, we grow crops along the aisles of our solar panels, benefiting from shade, improved soil moisture, and higher yields,” Valeros told reporters in an interview here. Partial shading from the panels also cools the soil, which ensures that plants access sufficient water during warmer periods. “We also made use of this initiative to empower local farmers in the area...and help them with their livelihoods.” From a corporate social responsibility (CSR) project, she said the company saw its potential as a revenue-generating initiative, which now operates in three sites: Barangay Luntal and Barangay Lumbangan in Tuy, Batangas as well as in Arayat, Pampanga.

From 2022 to 2025, Citicore Foundation’s agrosolar initiative yielded 16 metric tons (MT) of high-value crops, such as eggplant, red and green chillis, and okra, among others. At present, however, she said harvested crops across the operational sites are marketed through community-based selling, “since we don’t have institutional offtakers yet” given the limited yield to sustain a commercialized operation. Despite this, Valeros said they plan to increase the agrosolar initiative to a total of six sites by yearend through partnerships with local government units (LGUs) and the Department of Agriculture (DA). Citicore Foundation is in talks with the LGU and the DA to develop the agrosolar project in Binalonan, Pangasinan and the Dalayap, Tarlac, respectively. The LGU of Silay, Negros Occidental also showed interest in the initiative. “The vision is (for) it to become a full-blown enterprise that can serve or at least compete at the commercial level and to utilize more land,” Valeros said. “This is to show that energy and food security don’t have to be compromised. Whether there’s development or industrialization, we can still keep the agricultural intent of our lands.”

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By VG Cabuag

The launch pipeline includes new phases of developments in its Nuvali Estate in Laguna and in Lipa, Batangas and a new residential development in Cresendo Estate in Tarlac. Together, the projects reflect Ayala Land’s focus in markets supported by infrastructure investment, expanding employment centers, and growing economic activity.

“The sustained demand, coupled with more stable operating conditions, gives us confidence to offer new product in these markets” Anna Ma. Margarita B. Dy, the company’s president and CEO, said. “We are starting with a focused pipeline of horizontal developments where our integrated estates continue to create lasting value.”

The move comes as Ayala Land’s residential inventory has been brought down to the pre-pandemic level of 15 months of supply. Mike Jugo, chief commercial officer of Ayala Land, said end-users continue to underpin demand. “The market today is driven by end-users making long-term decisions about where they want to live. We continue to see healthy demand particularly among families seeking larger living spaces, integrated amenities, and strong connectivity.” The projects are located in growth markets benefiting from continued infrastructure investment, including Cavite-Laguna Expressway and the North-South Commuter Railway, alongside expanding economic activity and employment centers, the company said. Ayala Land said its income fell 19 percent to P11.5 billion in the first half from the previous year’s P14.17 billion mainly on jittery market conditions caused by the war in the Middle East.

Revenues for the period fell almost 10 percent to P75 billion from the previous P83.06 billion. Dy said the company had a challenging first quarter and Ayala Land had to stabilize its business in the second quarter by bringing down its inventory to 15 months for the quarter, reducing additional costs and halting projects so as not to clog the market with unsold units. She said the company is still on track on delivering its projects, as Ayala Land will launch mostly horizontal residential projects. Sales for the second quarter fell to P26 billion from the P27 billion in the first quarter. This was done without any launches, which would have given the company a bump in its revenues, Dy said. Ayala Land’s property development business had P41 billion in revenues for the first half, buoyed by second-quarter revenues of P20.6 billion, flat compared to the first quarter of the year.

Celeste Ilagan is new IBPAP head T

HE local information technology-business process management (IT-BPM) industry is turning to one of its longtime insiders to lead its largest industry association, with Ce-

SEC orders firms to use OARS

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@villygc

ROPERTY developer Ayala Land Inc. (ALI) on Thursday said it is beefing up its residential pipeline across three developments in South and Central Luzon as end-user demand outside of the National Capital Region (NCR) supports new supply in the company’s master planned estates.

COMPENSATION

after publication in two newspapers in the country. “The provisions of this circular establishing the use of OARS shall be mandatory for newly initiated applications for registration statements. To ease the transition to and adoption of the use thereof, the existing and pending applications for registration statements shall continue to be processed in accordance with SEC MC No. 9, series of 2025,” the SEC said. Applications submitted through OARS should be processed by the SEC within 40 days upon payment of the initial assessment fee. It will also accept applications

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ALI will expand residential inventory outside of NCR

Samsung Electronics Co. was ordered to pay Swatch Group AG $11.6 million for failing to prevent apps that mimicked the Swiss company’s luxury brands such as Breguet, Longines and Omega on its own smartwatch displays. The High Court’s trademark ruling, published Wednesday, came after the Swiss watchmaker sought about $170 million from the Korean technology giant for displaying the Swatch brands. Samsung argued at trial that the damages weren’t worth more than about $300. A previous judgment found Samsung had infringed the Swiss watchmaker’s trademarks by allowing designs that replicated the appearance of Swatch Group watches for digital watch displays on its app store between 2015 and 2019. “We are carefully considering the High Court’s judgment and will consider all possible countermeasures, including an appeal," a Samsung spokesperson said. BLOOMBERG

HE Securities and Exchange Commission (SEC) is set to require all companies raising funds from the equities and debt markets to use its system called Online Application for Registration Statements (OARS). The said system, according to the SEC’s Memorandum Circular (MC) 24, will be for direct public offering, first tranche of the shelf registration, follow-on offering and initial public offering. OARS is a web-based platform that enables companies to electronically submit registration statements and other required filings The said circular will take effect

Friday, August 28, 2026

under specialized registration programs of the SEC, such as Securing and Expanding Capital for Real Estate Non-Traditional Securities (SEC RENT) and Securing and Expanding Capital for PowerGen Operators and Wholesale of Electricity and Retail Services (SEC POWERS). The OARS also facilitates the generation of International Securities Identification Numbers (ISINs), Classification of Financial Instruments and Financial Instrument Short Names (FISNs) in compliance with the standards of the Association of National Numbering Agencies (ANNA). VG Cabuag

leste Ilagan set to become the first woman to head the group. The Information Technology and Business Process Association of the Philippines (IBPAP) on Thursday named Ila-

gan, its current chief operating officer, as president and chief executive officer (CEO)-designate, succeeding Jack Madrid effective October 11. Ilagan brings nearly three decades of experience in the IT-BPM

industry, including four years in IBPAP’s leadership ranks. She joined the association in 2022 as chief policy and regulatory affairs officer and currently serves as chief operating officer. Bless Aubrey Ogerio

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Companies BusinessMirror

Friday, August 28, 2026

New AI center aims to enable firms to develop applications

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By Bless Aubrey Ogerio

@blessogerio

RTIFICIAL intelligence (AI) is getting a new testing ground in the country, where businesses can see how the technology can be applied to actual operations rather than kept at the pilot stage. IT firm Appistoki and Novare Technologies have recently launched a Salesforce Data and AI Center of Excellence (CoE) at Novare’s headquarters in Bonifacio Global City, Taguig, as a joint space for developing and demonstrating enterprise AI applications. The center will focus on Salesforce’s Agentforce, an agentic AI platform, and Data 360, its data engine,

with the two companies working on potential business applications. Rather than serving solely as a demonstration facility, the CoE will host customer briefings, workshops and collaborative sessions where organizations can explore specific AI use cases and develop applications suited to their operations. Real estate will be among its initial areas of focus, with potential applications including

automated lead engagement, personalized property recommendations and AI-assisted customer support. Data from the Philippine Statistics Authority showed that the real estate industry expanded by 0.8 percent year-on-year in the second quarter of 2026 (or 1.3 percent including ownership of dwellings). Appistoki founder and CEO Abhijeet Kulkarni said the center was intended to give businesses a way to see how AI could work in actual business settings. “We wanted to create a space where organizations can experience AI in action. Through Agentforce, businesses will better understand how intelligent and connected customer engagement can transform industries such as real estate,” Kulkarni said. For his part, Novare Technologies CEO Victor Silvino said the initiative would focus on applying AI

to business and operational needs. “AI should create a meaningful impact for both businesses and people. This initiative reflects our commitment to helping organizations adopt AI in ways that are practical, responsible, and outcome-driven.” Furthermore, Salesforce Asean Senior Vice President and General Manager Paul Carvouni said businesses would increasingly need to move beyond testing AI and apply it to areas where results can be measured. “Business success in the Philippines will be defined by organizations that move beyond AI pilots to apply AI where it delivers measurable outcomes,” Carvouni said. Appistoki, a Salesforce Summit or Platinum Consulting Partner, is headquartered in Singapore and has teams in the Philippines, Indonesia and India. It is also a Novare channel partner.

Globe, Apple testing satellite service G LOBE Telecom Inc. is targeting the completion of its Starlink-powered satellite service rollout to iPhones by yearend, an executive said. In an interview, Globe VP Eric Tan said the telco is currently testing the service with Apple Inc., with connectivity expected to be enabled through an upcoming iOS software update rather than new hardware. “Our target rollout is the end of the year. We are already at the testing phase, so it’s really in collaboration with Apple to deploy it in their next iOS release,” Tan told reporters. Globe’s satellite service currently runs on compatible Android and iOS smartphones, covering about 70 percent of its addressable base. Tan said extending support to iPhones—which account for an estimated 20 percent to 30 percent of that market—would lift coverage to roughly 90 percent. He noted that demand has been climbing nearly two months after the service’s commercial launch. “We’re very happy with the takeup so far. So, as I mentioned, I think today we are on our seventh or eighth week in the market, and our paying customers continue to grow weekon-week.” The company is also broadening satellite connectivity beyond the Philippines through reciprocal roaming arrangements with telcos partnered with Starlink. Tan said Globe is ready to launch a reciprocal roaming tie-up in Japan, while similar arrangements in the United States and Canada remain under testing,

with a possible rollout by yearend. The satellite update was among the developments Globe unveiled at The Blueprint, the company’s event series centered on connectivity that delivers greater convenience and personalized value. “Connectivity means different things at different moments for every customer. Sometimes it’s about being able to reach someone when it matters, while other times it’s about making everyday tasks easier or simply enjoying more of what they love,” said KD Dizon, Globe chief marketing officer. “Our goal is to understand those moments and make the Globe experience work around them, strengthening the systems and applications customers use, making them more dependable and reliable.” Among the announcements, Globe introduced Globe Circle, which rewards customers who rely on the telco for both mobile and home connectivity with added benefits and experiences. It also confirmed the return of 917 GDay 2026, its annual customer celebration. The company unveiled fresh offers spanning roaming, home internet and digital lifestyle partnerships, including tie-ups with short-form entertainment platform ReelShort, fitness app Strava and Meta AI. It also launched Green GSM, an all-electric ride-hailing service using VinFast electric vehicles, giving customers a greener mobility option while opening earning opportunities for drivers. Lorenz S. Marasigan

MUTUAL FUNDS

August 27, 2026

NAV ONE YEARTHREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES)

ALFM GROWTH FUND, INC. -A217.28 -1.25% 2.49% 0.15% -2.19% 1.49% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.3281 13.18% 17.58% 9.46% 5.15% 7.71% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.8932 -1.47% 1.11% -0.54% -4.05% 1.48% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7753 1.99% 5.01% 1.04% N.A 5.6% FIRST METRO CONSUMER FUND, INC. -A 0.5137 -12.74% -6.44% -7.23% N.A -7.62% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.4004 -4.41% -0.75% -1.67% -2.19% 0.63% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.663 -0.91% -0.24% -1.63% N.A 3.17% MBG EQUITY INVESTMENT FUND, INC. -A 74.49 -4.27% -3.54% -5.19% N.A -16.73% PAMI EQUITY INDEX FUND, INC. -A 43.4267 1.56% 1.63% -0.27% -1.87% 5% PHILAM STRATEGIC GROWTH FUND, INC. -A 455.61 -1.57% 2.1% -0.36% -2.08% 1.35% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.6216 6.99% 12.19% 7.19% 2.15% 3.86% PHILEQUITY FUND, INC. -A36.8939 4.63% 4.28% 1.98% -0.21% 7.15% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9808 8.77% 6% 2.64% N.A 10.49% PHILEQUITY PSE INDEX FUND, INC. -A 4.6985 2.52% 2.69% 0.76% -0.99% 5.12% PHILIPPINE STOCK INDEX FUND CORP. -A 773.11 2.05% 2.31% 0.46% -1.22% 5.19% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7232 3.98% 3.34% 0.98% -2.48% 3.01% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.2258 -5.91% -0.1% -1.57% -2.73% 0.51% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8666 1.88% 1.9% 0.08% -1.48% 5.17% UNITED FUND, INC. -A3.72419.07% 7.5% 3.35% 0.61% 13.28% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0849 1.99% 2.32% N.A N.A 5.03% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0775 1% N.A N.A N.A 3.26% PHILEQUITY ALPHA ONE FUND, INC. -A 0.9413 -2.54% -1.62% -2.49% N.A -0.32% PHILIPPINE STOCK INDEX FUND CORP. -A 932.89 2.05% 2.1% N.A N.A 5.24% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 105.4919 2.32% 2.54% 0.78% -0.8% 5.48% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.2498 31.78% 15.12% 1.52% 3.36% 21.99% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.4645 17.83% 16.51% 6.31% 8.9% 10.8% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) N.A N.A N.A N.A PHILEQUITY GLOBAL FUND, INC. -A,2 1.0728 N.A BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2042 3.09% 1.41% 0.28% -0.81% 2.99% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.7273 8.2% 5.99% 0.88% -0.61% 5.56% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.5221 0.21% 0.98% -0.3% -0.56% 2.44% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2323 0.48% 7.17% 4.32% N.A 0.17% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 2.0179 2.56% 1.5% 0.89% 0.41% 0.77% PAMI HORIZON FUND, INC. -A3.8012 1.38% 3.57% 0.94% -0.2% 0.3% PHILAM FUND, INC. -A16.0568 -1.17% 2.29% -0.24% -0.77% 0.29% SOLIDARITAS FUND, INC. -A2.138 1.05% 2.73% 1.07% 0.05% 1.79% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.4474 -1.97% 1.57% -0.27% -1.17% 0.7% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9056 -2.72% 1.39% 0.67% -0.88% -0.56% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) BPI WEALTH BUILDER MULTI-ASSET MUTUAL FUND, INC. -A,3 10.77 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9824 0.86% 2.24% 0.21% N.A 0.37% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8445 -1.72% 1.2% -0.91% N.A 0.32% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.8149 0.76% -1.28% N.A -2.08% 0.46% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.0334 0.97% 1.17% -2.78% -0.8% -2.62% PAMI ASIA BALANCED FUND, INC. -B $1.1634 -1.25% 10.05% 1.54% 2.18% -3.85% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.6966 11.63% 12.1% 3.64% 5.84% 6.71% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.2079 4.96% 6.93% 0.39% 2.31% 2.07% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 424.58 2.61% 3.27% 2.64% 2.52% 1.09% ATRAM CORPORATE BOND FUND, INC. -A 1.9853 2.27% 1.19% 0.62% 0.4% 1.37% COCOLIFE FIXED INCOME FUND, INC. -A 3.6084 1.7% 3.06% 2.19% 3.23% 0.24% EKKLESIA MUTUAL FUND, INC. -A 2.4449 0.89% 3.16% 1.58% 1.38% -0.31% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5122 -1.36% 1.39% 0.59% 1.12% -2.21% PHILAM BOND FUND, INC. -A4.5306 -0.47% 2.78% 0.24% 0.66% -1.72% PHILAM MANAGED INCOME FUND, INC. -A 1.5438 3.15% 4.59% 3.22% 2.94% 1.57% PHILEQUITY PESO BOND FUND, INC. -A 4.3245 1.56% 3.07% 1.68% 1.79% 0.26% SOLDIVO BOND FUND, INC. -A1.1307 2.36% 2.86% 1.75% 1.64% 0.91% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A -1.91% 2.38% 1.45% 3.4554 1.86% -2.41% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8329 -1.76% 1.99% 0.93% 1.26% -2.73% CORPORATE DEBT VEHICLE (UNITS) ATRAM UNITIZED CORPORATE DEBT FUND 2 -A,5 1.0091 N.A N.A N.A N.A N.A PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $532.97 2.04% 2.87% 1.79% 1.94% 0.74% ALFM EURO BOND FUND, INC. -A Є223.11 0.29% 1.84% 0.23% 0.52% -0.3% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.056 -1.97% 0.65% -2.63% -0.64% -1.77% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 -1.15% 2.02% -0.31% 0.28% -2.64% PAMI GLOBAL BOND FUND, INC. -B $1.0472 -1.62% 7.84% -0.14% -0.63% -1.21% PHILAM DOLLAR BOND FUND, INC. -A $2.4283 -0.22% 3.08% -0.83% 0.53% -2.08% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.063662 -0.36% 1.68% 0.18% 1.12% -1.22% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.8643 -0.77% 1.96% -2.22% -0.76% -2.33% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.186 2.76% N.A N.A N.A 1.68% ALFM MONEY MARKET FUND, INC. -A 152.62 4.23% 4.09% 3.17% 2.85% 2.52% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.2234 3.49% 3.77% 3.02% 2.15% N.A SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.5142 3.67% 3.59% 2.97% 2.76% 2.21% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 116.94 4.21% 4.32% N.A N.A 2.62% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1945 2.56% 3.31% 2.45% N.A 1.55% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 48.131 7.88% 3.86% N.A N.A 4.38% MBG ASIA FRONTIER FEEDER UMF, INC. -B,4 1.8233 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.5562 30.73% 22.28% 13.97% N.A 17.79% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1959 12.27% 6.16% N.A N.A 7.19% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.8123 -0.01% 1.37% -3.88% N.A 0.28% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. 2 - LAUNCH DATE IS FEBRUARY 2, 2026. 3 - LAUNCH DATE IS DECEMBER 18, 2024. MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON SEPTEMBER 12, 2025. 4 - MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON MARCH 26, 2026. 5 - LAUNCH DATE IS APRIL 17, 2026, AND IT REPRESENTS THE SECOND TRANCHE OF THE ATRAM UNITIZED CORPORATE DEBT VEHICLE, INC. “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA)

and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest NAVPS/NAVPU.”

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

August 27, 2026

Net Foreign Bid Ask Open High Low Close Volume Value Trade (Peso) Stocks Buy (Sell) FINANCIALS

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK COL FINANCIAL FIRST ABACUS FERRONOUX HLDG LMG CORP NTL REINSURANCE SUN LIFE VANTAGE

50 119.6 10.18 103 53.5 10.78 65.75 6.93 64.9 51.8 22.95 64.65 24.25 1.42 0.51 3.91 0.345 1.25 4,700 0.8

50.15 120 10.28 104 54.3 10.8 65.9 7.06 65.5 52.7 23 65.05 24.5 1.46 0.54 4.03 0.35 1.26 4,750 0.87

50 122 10.26 105 54.05 11.08 67.5 7 67.45 52.7 23 66.2 24.5 1.47 0.54 4.1 0.37 1.18 4,700 0.88

50.15 122 10.3 105.5 54.3 11.08 67.75 7 67.45 52.7 23.1 66.2 24.5 1.47 0.54 4.1 0.38 1.28 4,700 0.88

50 118.6 10.2 101.5 52.9 10.7 65.3 7 64 51.8 23 64.5 24.1 1.41 0.5 3.8 0.35 1.18 4,700 0.86

50 119.6 10.2 104 54.3 10.78 65.75 7 64.9 52.7 23 65.05 24.25 1.42 0.51 3.9 0.35 1.25 4,700 0.87

81,690 5,553,270 27,600 1,565,630 470,030 536,300 5,005,350 7,900 335,520 770 11,700 231,490 25,300 72,000 448,000 55,000 210,000 4,925,000 15 169,000

4,084,659 664,366,535 282,490 161,607,139 25,114,517 5,847,668 331,153,351 55,300 21,881,166 40,570 269,180 15,093,803 613,020 103,260 227,900 217,310 77,650 5,969,420 70,500 147,200

3,965,500 -218,540,747 -26,239,668 883,430 -2,407,020 -169,825,354 55,300 -4,216,903 -2,117 -1,887,286 118,335 -5,880 480 4,570,620 23,500 -20,880

INDUSTRIAL ACEN CORP 2.9 2.94 2.88 2.94 2.85 2.94 16,007,000 46,641,760 -1,811,470 ALSONS CONS 1.21 1.22 1.25 1.26 1.19 1.21 10,965,000 13,381,450 -1,312,320 ALTERNERGY HLDG 0.75 0.76 0.76 0.77 0.75 0.76 1,336,000 1,017,300 -407,310 ABOITIZ POWER 45.3 45.35 45.9 46.1 44.65 45.3 3,378,300 152,827,360 -5,024,770 RASLAG 1.15 1.15 1.14 1.14 1.12 1.14 791,000 896,160 18,900 BASIC ENERGY 0.11 0.112 0.11 0.112 0.11 0.112 2,130,000 236,260 CITICORE RE 4.78 4.98 4.98 5 4.75 4.98 860,000 4,283,620 2,012,710 24.95 25 24.6 25.6 24 25 2,766,300 69,087,135 4,018,930 FIRST GEN 100.3 100.5 107.5 107.5 100.2 100.5 154,390 15,636,868 746,419 FIRST PHIL HLDG 469 470 475.8 475.8 467.2 470 296,980 -41,571,850 MERALCO 139,271,504 35 35.1 35.25 35.45 34.25 35 3,105,800 108,469,650 -51,838,280 MANILA WATER 17.92 17.98 18.16 18.16 17.9 17.98 2,595,100 46,661,898 -14,109,814 MAYNILAD 2.36 2.37 2.38 2.35 2.36 716,000 1,687,530 -195,120 PETRON 2.38 3.94 4 4.12 3.99 4 148,000 600,150 -3,990 PETROENERGY 4.15 PRYCE CORP 15.02 15.28 15.02 15.24 15.02 15.02 6,100 91,776 15,174 REPOWER ENERGY 9.6 9.68 9.7 9.7 9.64 9.65 700 6,764 SEMIRARA MINING 18.4 18.48 18.6 19 18.24 18.48 1,309,200 24,331,258 5,780,702 SYNERGY GRID 26.85 27.1 27.8 28 26.6 26.85 2,616,300 70,910,590 -17,245,060 SHELL PILIPINAS 8 8.13 8.14 8.28 8 8 604,100 4,892,140 -691,188 SPC POWER 9.3 9.48 9.51 9.51 9.28 9.28 93,000 871,137 12,174 SP NEW ENERGY 1.24 1.25 1.26 1.26 1.24 1.25 13,014,000 16,241,040 -2,890,550 1.72 1.73 1.73 1.75 1.7 1.73 859,000 1,472,510 -316,940 TOP LINE 19.2 20.6 19.18 19.18 19.18 100 1,918 VIVANT 19.18 AXELUM 2.82 2.8 2.82 2.78 2.82 719,000 2,017,710 -462,030 2.84 32.2 32.25 32.55 32.8 31.65 32.2 1,331,100 42,925,200 -16,923,495 CENTURY FOOD 3.54 3.5 3.55 3.49 3.54 1,295,000 4,573,560 -56,050 DNL INDUS 3.55 15.54 15.5 15.34 15.88 579,200 9,110,628 -2,492,862 EMPERADOR 15.88 15.88 47.25 47.4 47.45 47.75 47.2 47.2 7,400 350,690 -9,415 SMC FOODANDBEV FIGARO GROUP 0.66 0.67 0.69 0.69 0.65 0.66 454,000 301,050 39,420 FRUITAS HLDG 0.64 0.65 0.64 0.64 0.64 0.64 407,000 260,480 34,562,688 GINEBRA 217.4 218 226 226 215.6 218 157,570 -17,985,266 JOLLIBEE 160.6 156.7 156.9 160.1 156.5 156.7 829,960 130,971,432 -49,360,184 KEEPERS HLDG 1.86 1.89 1.93 1.94 1.85 1.89 1,084,000 2,027,500 -783,910 LIBERTY FLOUR 20.65 21.5 22.15 22.15 20.7 21.5 3,300 68,915 2,080 MAXS GROUP 2.14 2.25 2.3 2.3 2.16 2.25 15,000 33,840 -9,200 6.8 6.94 6.95 6.95 6.76 6.94 3,451,600 23,740,264 366,999 MONDE NISSIN 5.6 5.77 5.77 5.62 5.62 93,000 523,307 224,799 SHAKEYS PIZZA 5.62 2.38 2.42 2.43 2.53 2.38 2.38 12,000 28,890 2,390 ROXAS AND CO 5.27 5.3 5.29 5.32 5.27 5.27 239,200 1,262,806 -766,619 RFM CORP 0.056 0.058 0.056 0.056 0.056 0.056 740,000 41,440 SWIFT FOODS UNIV ROBINA 60 60.75 61 61 59.65 60 1,222,620 73,514,404 -59,539,101 0.495 0.51 0.51 0.51 0.495 0.495 474,000 237,715 VITARICH ATN HLDG A 0.415 0.43 0.415 0.415 0.415 0.415 40,000 16,600 ATN HLDG B 0.41 0.415 0.415 0.415 0.415 0.415 250,000 103,750 58 58 CONCRETE A 54.05 58 58 58 10 580 59.9 59.9 CONCRETE B 54.05 59.9 59.9 59.9 10 599 CONCREAT HLDG 1.27 1.29 1.32 1.32 1.27 1.27 1,461,000 1,885,160 1.9 1.9 EEI CORP 1.89 1.9 1.9 1.9 34,000 64,600 -64,600 MEGAWIDE 4.78 4.55 4.75 4.67 4.53 4.75 2,422,000 11,371,300 -1,264,700 1.85 1.88 1.84 1.9 1.83 1.85 613,000 1,155,560 -108,560 CROWN ASIA 1.12 1.2 1.2 1.13 1.13 140,000 158,750 8,050 EUROMED 1.13 5 5.15 5.15 5.15 100 515 -515 MABUHAY VINYL 5.15 5.15 10.6 10.72 11.12 10.5 11.08 143,100 1,531,278 1,483,020 CONCEPCION 11.06 0.164 0.166 0.173 0.164 0.164 2,700,000 448,350 GREENERGY 0.167 INTEGRATED MICR 7.01 7.06 7.24 7.28 6.95 7.06 4,507,000 32,018,590 -15,511,111 2.13 2.14 2.18 2.22 2.09 2.13 3,370,000 7,322,110 -987,700 IONICS PANASONIC 7.32 7.32 7.19 7.2 7.2 7.32 7,300 52,836 CIRTEK HLDG 1.25 1.29 1.36 1.36 1.25 1.29 4,402,000 5,669,590 332,710

HOLDING & FRIMS

ABACORE CAPITAL 0.355 0.365 0.375 0.38 0.355 0.355 13,910,000 5,076,850 -914,400 ASIABEST GROUP 55 55 54.5 54.5 54.5 54.5 762,410 41,837,545 13,504,466 AYALA CORP 490 493 507 507 484 490 264,930 130,020,635 -8,414,155 ABOITIZ EQUITY 38 38 37 37.7 36.4 38 1,852,700 69,485,295 -9,140,530 ALLIANCE GLOBAL 8.82 8.88 9 9.16 8.79 8.82 1,649,700 14,585,360 -7,087,324 ANSCOR 16.8 16.8 16.76 16.76 16.76 16.8 5,200 87,200 ANGLO PHIL HLDG 1.08 1.11 1.08 1.11 1.07 1.11 1,246,000 1,359,620 52,920 7.86 7.87 8.1 8.1 7.74 7.86 1,191,100 9,371,290 -1,898,760 COSCO CAPITAL 7.8 7.83 7.9 7.9 7.76 7.83 2,310,700 18,052,320 -7,117,094 DMCI HLDG 3.6 3.63 3.63 3.63 4,000 14,520 FILINVEST DEV 3.63 3.63 FJ PRINCE A 2.41 2.88 2.88 2.89 2.88 2.89 2,000 5,770 GT CAPITAL 489 490 497 497 480 489 70,900 34,551,848 -8,309,948 5.19 5.2 5.2 5.2 5.19 5.2 1,103,700 5,739,236 HOUSE OF INV JG SUMMIT 21.3 21.5 21.55 21.7 21.25 21.5 995,500 21,373,850 -11,016,135 LODESTAR 0.365 0.35 0.355 0.37 0.355 0.355 370,000 131,500 LOPEZ HLDG 5.4 5.49 5.55 5.55 5.4 5.49 374,800 2,056,189 20,838 LT GROUP 15.14 15.18 15.2 15.22 15.12 15.14 2,831,100 42,905,464 2,936,354 PACIFICA HLDG 0.85 0.89 0.86 0.86 0.85 0.85 14,000 11,950 1.29 1.29 PRIME MEDIA 1.2 1.25 1.2 1.29 78,000 94,470 SOLID GROUP 1.17 1.19 1.17 1.21 1.17 1.2 12,000 14,140 SM INVESTMENTS 560 564 570 578 554 560 428,860 240,585,650 -124,346,660 63.75 64.9 64.5 64.9 63.1 64.9 73,240 4,701,730 -405,648 SAN MIGUEL CORP 54 56 54 54 54 54 160 8,640 TOP FRONTIER ZEUS HLDG 0.068 0.069 0.069 0.073 400,000 28,740 0.073 0.073 PROPERTY ARTHALAND CORP 0.435 0.465 0.465 0.465 0.465 0.465 10,000 4,650 4,650 AYALA LAND 15.5 15.68 15.56 15.82 15.2 15.5 26,212,700 408,545,118 -16,770,676 AYALA LAND LOG 1.16 1.17 1.18 1.18 1.14 1.17 497,000 573,500 -23,040 ALTUS PROP 11.6 11.86 11.68 11.68 11.68 11.68 4,100 47,888 ARANETA PROP 0.285 0.295 0.285 0.285 0.285 0.285 60,000 17,100 AREIT RT 37 37.1 37.45 37.5 36.85 37.1 1,444,100 53,551,270 -36,937,220 CITYLAND DEVT 0.62 0.62 0.61 0.61 0.61 0.62 5,000 3,070 0.088 0.093 0.094 0.094 0.088 0.088 490,000 44,610 CROWN EQUITIES CEB LANDMASTERS 2.07 2.08 2.12 2.12 2.07 2.08 958,000 2,000,510 14,510 0.66 0.67 0.69 0.69 0.64 0.66 20,730,000 13,620,760 -652,340 CENTURY PROP 3.15 3.2 3.21 3.26 3.15 3.15 4,218,000 13,464,600 -6,038,050 CITICORE RT 11.92 12.1 12.16 11.92 12.08 441,800 5,334,208 -866,688 DOUBLEDRAGON 12.08 1.03 1.04 1.03 1.04 1,913,000 1,976,350 6,180 DDMP RT 1.04 1.04 4.9 5 4.88 4.9 4.88 4.9 4,000 19,580 DM WENCESLAO EVERWOODS 0.029 0.029 0.028 0.029 0.029 0.029 100,000 2,900 EMPIRE EAST 0.099 0.102 0.1 0.1 0.1 0.1 10,000 1,000 FILINVEST RT 2.88 2.89 2.9 2.91 2.89 2.89 929,000 2,687,930 33,410 FILINVEST LAND 0.68 0.69 0.69 0.69 0.68 0.69 34,000 23,300 -680 JACKSTONES 1.99 1.81 1.92 2 1.92 2 2,000 3,920 2.26 MEGAWORLD 2.25 2.3 2.3 2.22 2.25 5,817,000 13,071,120 -6,777,020 MRC ALLIED 0.7 0.7 0.69 0.7 0.69 0.7 46,537,000 32,363,790 13.74 13.78 13.86 13.86 13.7 13.78 433,300 5,966,200 348,952 MREIT RT 0.102 0.104 0.103 0.103 0.103 0.103 430,000 44,290 OMICO CORP PRMIERE HORIZON 0.161 0.162 0.162 0.164 0.162 0.162 1,180,000 191,320 PHIL ESTATES 0.365 0.37 0.37 0.37 10,000 3,700 0.37 0.37 PREMIERE RT 1.01 1.03 1.05 1.06 1.01 1.04 202,000 207,500 -98,120 1.01 1 1 1.1 10,000 10,800 PRIMEX CORP 1.1 1.1 RL COMM RT 7.11 7.35 7.18 7.35 7.03 7.35 5,592,200 40,024,770 -3,297,286 ROBINSONS LAND 17.24 17.3 17.6 17.6 17.12 17.3 2,643,200 45,766,052 1,277,192 PHIL REALTY 0.115 0.118 0.107 0.115 0.107 0.115 730,000 82,240 3.26 ROCKWELL 3.2 3.39 3.39 3.19 3.26 1,828,000 6,021,140 -1,145,580 SHANG PROP 3.24 3.25 3.29 3.29 3.23 3.25 116,000 376,930 -221,000 STA LUCIA LAND 1.85 1.96 1.9 1.97 1.9 1.97 3,080,000 6,035,010 -11,640 SM PRIME HLDG 17.8 17.82 18.1 18.1 17.8 17.8 8,568,600 153,131,470 -119,583,486 SUNTRUST RESORT 0.41 0.425 0.41 0.41 0.41 0.41 10,000 4,100 0.3 0.305 0.3 0.3 510,000 162,150 0.325 0.325 WELLEX INDUS SERVICES ABS CBN 3.62 3.68 3.7 3.73 3.62 3.68 392,000 1,441,440 GMA NETWORK 3.95 3.96 4.1 4.15 3.96 3.96 989,000 3,958,400 DITO CME HLDG 0.71 0.72 0.74 0.74 0.7 0.72 12,966,000 9,264,780 -2,212,490 GLOBE TELECOM 1,645 1,649 1,675 1,675 1,640 1,649 35,755 59,021,650 -22,534,005 PLDT 314,285,745 1,135 1,136 1,159 1,159 1,125 1,135 276,585 -196,813,125 APOLLO GLOBAL 0.0062 0.0063 0.0062 0.0064 0.0062 0.0063 42,000,000 262,300 9.55 CONVERGE 9.35 9.4 9.5 9.35 9.35 5,525,400 52,141,248 -24,187,030 0.12 0.124 0.12 0.126 0.119 0.124 4,410,000 533,510 ISLAND INFO NOW CORP 0.45 0.46 0.47 0.47 0.45 0.46 240,000 110,500 TRANSPACIFIC BR 0.119 0.12 0.12 0.12 100,000 12,000 0.12 0.12 CHELSEA 0.86 0.87 0.87 0.87 100,000 87,000 0.87 0.87 CEBU AIR 27.85 28 27.85 28.4 41,200 1,148,855 250,655 28.4 28.4 881 883 902 914 880.5 881 2,840,040 2,518,989,630 -1,212,691,895 INTL CONTAINER 7.89 7.89 7.89 7.9 6,100 48,163 -2,367 LBC EXPRESS 7.9 7.9 LORENZO SHIPPNG 0.67 0.69 0.67 0.67 0.67 0.67 2,000 1,340 3.74 MACROASIA 3.71 3.78 3.8 3.7 3.74 96,000 358,440 -148,930 PAL HLDG 2.55 2.57 2.45 2.62 2.41 2.55 4,873,000 12,328,360 793,340 HARBOR STAR 1.8 1.85 1.83 1.95 1.8 1.85 4,746,000 8,847,330 378,810 BOULEVARD HLDG 0.032 0.033 0.033 0.035 0.032 0.032 32,200,000 1,075,600 326,700 GRAND PLAZA 5.03 5.03 5.02 5.03 5.02 5.02 900 4,521 503 WATERFRONT 0.445 0.405 0.44 0.42 0.4 0.4 230,000 98,100 14.84 14.94 14.84 15.26 6,500 97,816 8,484 15.26 15.26 CENTRO ESCOLAR 7 6.9 6.9 7.32 200 1,422 690 IPEOPLE 7.32 7.32 1.28 1.3 1.28 1.29 1.28 1.28 619,000 792,390 759,110 STI HLDG 1.15 1.16 1.17 1.17 1.14 1.15 1,200,000 1,378,090 -2,310 BELLE CORP 2.39 2.4 2.43 2.5 2.36 2.4 12,275,000 29,605,930 -8,096,100 BLOOMBERRY 9.59 9.6 9.79 9.51 9.59 2,830,100 27,101,240 -3,905,805 DIGIPLUS 9.79 14.22 14.36 14.7 14.76 14.14 14.22 2,145,800 30,702,692 -10,417,798 PHILWEB BERJAYA 9.26 8.5 9.2 9.26 8.5 9.2 1,200 10,802 1.07 1.07 METRO RETAIL 1.05 1.07 1.07 1.07 16,000 17,120 -5,350 PUREGOLD 39.5 39.7 40 40 39.05 39.5 1,843,800 72,783,560 -6,549,075 PHIL SEVEN CORP 32.5 33 33.5 33.5 32.05 33 19,300 636,705 5,600 SSI GROUP 2.05 2.1 2.07 2.13 2.05 2.06 82,000 169,090 UPSON INTL CORP 0.87 0.9 0.91 0.92 0.88 0.9 206,000 185,620 18,250 WILCON DEPOT 5.87 5.9 6.08 6.08 5.85 5.9 447,200 2,651,882 -2,326,755 0.106 0.112 0.106 0.112 0.106 0.112 140,000 15,310 APC GROUP MEDILINES 0.232 0.232 0.232 0.232 0.232 20,000 4,640 0.233 PAXYS 3.95 4 3.75 3.75 3.95 1,452,000 5,793,410 -461,850 4.15 MINING & OIL APEX MINING 15.72 15.74 15.8 16.08 15.5 15.74 2,248,200 35,509,170 -8,076,374 ATLAS MINING 18.76 18.8 17.8 18.88 17.1 18.8 9,174,600 168,532,368 40,896,626 BENGUET A 7.3 7.57 7.25 7.58 7.25 7.3 41,100 300,824 BENGUET B 7.32 7.64 7.69 7.69 7.68 7.68 800 6,146 2.29 2.29 CENTURY PEAK 2.04 2 2 2.29 4,000 8,580 4,580 EC VULCAN 0.3 0.32 0.31 0.32 0.3 0.3 520,000 165,600 -47,900 2.18 2.19 2.13 2.1 2.18 846,000 1,800,030 -982,980 FERRONICKEL 2.18 0.105 0.1 0.117 0.1 0.109 13,470,000 1,451,490 -77,850 GEOGRACE 0.109 0.238 0.24 0.241 0.241 0.236 0.239 10,000,000 2,391,510 LEPANTO A LEPANTO B 0.232 0.239 0.24 0.24 0.232 0.239 120,000 28,710 MANILA MINING A 0.0085 0.0087 0.0087 0.0087 0.0083 0.0087 20,000,000 173,600 MANILA MINING B 0.0085 0.0087 0.0086 0.0087 0.0086 0.0087 29,000,000 252,200 104,400 0.79 0.8 0.8 0.79 0.79 1,386,000 1,109,340 -39,700 MARCVENTURES 0.82 NIHAO 0.56 0.55 0.55 0.57 0.53 0.55 774,000 432,270 4,950 NICKEL ASIA 4.1 4.24 4.28 4.28 4.05 4.1 3,626,000 14,978,670 -701,220 OCEANAGOLD 35.65 35.7 36.3 36.3 35.3 35.7 187,500 6,708,700 -931,295 ORNTL PENINSULA 0.55 0.56 0.56 0.57 0.55 0.55 220,000 122,570 -61,600 PX MINING 11.2 11.36 11.44 11.44 11.1 11.36 1,508,300 17,014,132 2,064,692 UNITED PARAGON 0.0073 0.0077 0.0074 0.0074 0.0074 0.0074 500,000,000 3,700,000 ORNTL PETROL A 0.013 0.014 0.014 0.014 0.013 0.013 2,300,000 30,000 0.008 0.0083 0.0082 0.0082 55,000,000 452,400 0.0083 0.0083 PHILODRILL PXP ENERGY 3.05 3.06 3.04 3.11 3.02 3.06 208,000 635,880 PREFFERED ACEN PREF B 1,030 1,044 1,030 1,030 1,030 1,030 890 916,700 BRN PREF B 100.1 103.7 100.8 100.8 100 100 300 30,019 BRN PREF C 101.7 102.9 102.5 102.9 102.5 102.5 10,620 1,088,598 CEB PREF 28.25 29.7 28.25 29.75 28.25 28.25 9,600 271,500 CLI PREF A1 932.5 969.5 950 975.5 950 975.5 110 104,755 CLI PREF A2 980 1,000 995 1,000 980 980 605 594,560 CPG PREF B 98 99 99 99 99 99 1,510 149,490 93.2 93.25 93.3 93.35 93.2 93.25 15,110 1,408,893 DD PREF EEI PREF B 95.5 96 96 96 96 96 2,010 192,960 FDC PREF B 987 995 995 995 995 995 420 417,900 GLO PREF ANV 1,931 1,972 1,936 1,936 1,936 1,936 5 9,680 GLO PREF BNV 1,960 2,008 1,960 1,960 1,960 1,960 5 9,800 JFC PREF B 990 995 993 993 990 990 8,060 7,979,580 MWIDE PREF 6A 98.15 100 100 100 100 100 1,500 150,000 MWIDE PREF 6C 103 105 102.5 102.5 102.5 102.5 500 51,250 MWIDE PREF 7A 99.05 101.4 101.4 101.4 101.4 101.4 40 4,056 2,028 PCOR PREF 4C 987 995 990 990 990 990 30 29,700 PCOR PREF 4D 970 975 975 995 975 975 860 840,100 PCOR PREF 4E 997 1,000 995 995 995 995 100 99,500 SMC PREF 2L 78 79.8 79.8 79.8 79.8 79.8 50,000 3,990,000 SMC PREF 2N 77.05 78 77.05 78.9 77 78 7,030 542,368 78.6 79 79.1 79.1 79 79 18,180 1,437,841 SMC PREF 2O SMC PREF 2Q 73.5 76 73.5 73.5 73.5 73.5 790 58,065 14,700 75 78.5 78.5 78.5 78.5 78.5 10 785 SMC PREF 2R SMC PREF 2S 73.6 75 75 75 75 75 1,400 105,000 SMC PREF 2V 79 79.1 79.1 79.1 79.1 79.1 290 22,939 SMC PREF 2W 78 79.5 79.75 80 79.5 79.5 125,070 9,997,647 SMC PREF 2X 79.8 79.9 79.8 79.8 79.8 79.8 1,480 118,104 TECH PREF B2C 8.31 8.99 8.31 8.31 8.31 8.31 300 2,493 TOP PREF A1 100 100.1 100 100 100 100 140 14,000 TOP PREF A2 101 101.6 101.7 101.7 101 101 1,550 156,719 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

3.4 3.51 3.7 4 4.05 4.05 4 4 13,000 52,050

-

1.06

SM A L L, M ED I U M & EM E R G IN G

HAUS TALK ITALPINAS LFM PROP XURPAS

1.36 0.67 0.021 0.198

1.15

-

-

-

-

-

-

-

1.37 0.7 0.025 0.2

1.36 0.7 0.021 0.2

1.37 0.7 0.021 0.2

1.36 0.7 0.021 0.2

1.37 0.7 0.021 0.2

11,000 30,000 100,000 160,000

15,060 21,000 2,100 32,000

-

EXHANGE TRADE FUNDS FIRST METRO ETF

101.8

102

104 104 102 102 6,860 703,145 -62,130

www.businessmirror.com.ph

Banking&Finance

Budget chief vows tight reins as infra spend falls By Reine Juvierre Alberto @reine_alberto

T

HE government will keep strict safeguards on infrastructure projects, even as spending on hard assets tumbled by 40 percent in the first half of the year, still due to strict audits and validations of projects. Budget Secretary Kim Robert C. De Leon said the government will not suggest any relaxation of existing safeguards in order to ramp up the government’s spending for infrastructure. “In fact, we want more safeguards. What we’re looking at to recover is quick implementation and procurement,” De Leon told the BusinessMirror after stepping out the briefing room in the Senate last Thursday. BusinessMirror’s query came after the chief of the Department of Budget and Management (DBM) revealed that infrastructure expenditures and other capital outlays fell to P367.4 billion in the first six months. The amount was nearly half of the P620.2 billion the government spent for infrastructure in the same period a year ago. Last year’s tightening was due to tighter review, audit and validation of public works and implementation of documentary safeguards to protect public funds. These defenses were brought up after the flood control corruption scandal leaked last year, with the government scrutinizing contractor payments and cash releases. Nonetheless, first-quarter infrastructure spending remained higher than the spending target for the period, exceeding the program of P351.8 billion by 4.4 percent or P15.6 billion, data from the DBM showed. Still, De Leon noted that the firsthalf decline was due to the decision by the Department of Public Works and Highways (DPWH) to not award some infrastructure projects. He said the DBM is currently closely coordinating with DPWH to proceed with the awarding and procurement to start the projects in the pipeline. “It’s not about the safeguards, actually. We have to start implementing the projects. We have to start recovery,” De Leon said, adding that allotments have already been made available to DPWH. “We hope they will be able to start implementing the projects this Au-

gust and September so that we can see better figures by the third quarter,” he added. The DBM further showed that total infrastructure disbursements, which include infrastructure components of subsidy and equity to state-run corporations and transfers to local government units, declined by 28.1 percent to P518.1 billion in the first half from P720.3 billion in the same period last year. This was also below the P531.6billion program spending for the sixmonth period by 2.5 percent or P13.5 billion. For the month of June alone, disbursements for infrastructure and other capital outlays fell by 34.1 percent year-on-year to P98 billion from P148.8 billion. According to the DBM, infrastructure proposals must be supported by necessary technical and implementation requirements, including appropriate project documentation, procurement and implementation schedules and clearly defined milestones. For programs and projects to be implemented in the regions, the budget preparation process also requires the endorsement of the concerned Regional Development Councils to ensure that proposed investments are responsive to regional priorities and have undergone coordination among national government agencies, local government units and other regional stakeholders. Government’s budget allocation for infrastructure spending next year is pegged at P1.340 trillion, which is 5.35-percent higher than this year’s program of P1.272 trillion. The amount is equivalent to 4 percent of gross domestic product. Of the amount, P643.95 billion is proposed for DPWH, higher by 21.29 percent than its P530.90-billion budget this year, to bankroll ongoing locally funded and foreign-assisted Infrastructure flagship projects. Among the major Infrastructure flagship projects supported under next year’s proposed allocation are the Laguna Lakeshore Road Network Project, Bataan-Cavite Interlink Bridge Project, Davao City Bypass Construction Project, Package I, Cebu-Mactan Bridge and Coastal Road Construction Project, and Pasig-Marikina River Channel Improvement Project, Phase IV.

BusinessMirror

O

Association World Octavio Peralta requires competence, continuity, and deliberate stewardship. John also highlighted something that many long-established associations may overlook: governance practices should be reviewed regularly. Too often, organizations continue doing things simply because “that’s how we’ve always done it.” Constitutions, bylaws, and governance structures are amended piecemeal over decades until they become difficult to navigate. Conducting an independent governance “health check” can reveal outdated provisions, clarify roles, and ensure that governance documents remain fit for today’s realities rather than yesterday’s circumstances. Another valuable takeaway was the central role of strategic planning. Governance is not about board members managing day-to-day operations. Instead, their responsibility is to define direction, oversee progress, and safeguard the organization’s future. A strategic plan should never belong exclusively to either the board or the chief executive. Rather, it should be developed collaboratively, refined together, and ultimately owned by everyone responsible for leading the association forward. Equally important is maintaining clear boundaries between governance and management. John cautioned against boards drifting into micromanagement, a challenge familiar to many associations regardless of country. Effec-

B3

Beefing up exports to boost savings, buttress peso—BSP

O

By Andrea. E. San Juan

NLY by beefing up exports can government prevent the Philippine peso from weakening further, the central bank governor told lawmakers as the local tender plunged to a new record low on Thursday.

During a briefing at the Senate, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. told lawmakers that the exchange rate itself is “something very hard to fix” for a country like the Philippines. The day the BSP chief spoke, the peso plunged to a new record low of P61.888 against the dollar. The level is 23.8 centavos weaker than its previous finish of P61.65 against the greenback last Wednesday, data from the Bankers Association of the Philippines showed. Remolona explained to members of the Senate Committee on Finance last Thursday that the country’s outbound shipments are “expensive” and “inadequate,” making it difficult to stop the local currency from further weakening. “Our current account deficit is about 13 percent of our GDP [gross domestic product],” Masyadong mahal ang exports natin; kulang na kulang ang exports natin,” the central bank governor said during the briefing by members of the Development Budget Coordination Committee (DBCC). “So mahirap pigilin ang pagbaba ng peso. Pwedeng pigilan para mabagal pero hindi kayang i-fix; hindi pwedeng P60 lang, mauubusan tayo ng reserves, ng dollars.” [Our exports are not only too expensive but sorely lacking in volume. So it’s difficult to stop the peso from falling. You can slow its slide, but it

can’t be fixed. It’s rate can’t be just P60 as we’ll run out of reserves and dollars.]

Pax Silica

REMOLONA, who sits in the DBCC as resource person, shared his hopes for the peso. “Pero sana lumakas ang exports natin; kulang na kulang eh. ’Yun ang ating challenge dito sa exchange rate,” he said. [But I still hope our exports will strengthen as it’s really lacking in volume. That’s our challenge here with the exchange rate.] Remolona, nonetheless, noted government initiatives to boost exports, such as US-led strategic investments in Luzon. “Gumawa tayo ng paraan na palakasin ang exports. Halimbawa yung Pax Silica [manufacturing and industrial hub in New Clark City], maaaring makatulong sa exports yan; also the Luzon Economic Corridor (LEC) nakatutok yan sa exports,” the central bank governor said. A post by the US Embassy in the Philippines last May explained that the LEC is “a trilateral initiative of the United States, Japan, and the Philippines.” “It engages partners—including Australia, Canada, Denmark, France, Italy, the Republic of Korea, Sweden, and the United Kingdom—to catalyze mutual economic growth, create jobs, strengthen connectivity, and

Governance is more than compliance: Lessons from Australian associations

NE of the privileges of hosting the Philippine Council of Associations and Association Executives (PCAAE) podcast “Association Matters” is the opportunity to learn from association leaders who have spent decades helping organizations become more effective. Sometimes, what begins as a simple interview turns into a masterclass. This was exactly my experience with John Peacock AM, CEO of Associations Forum in Australia, who guested on the first episode of the “Australia-New Zealand Insights” series titled, Beyond Compliance: Governance Excellence in Australian Associations. While our discussion focused on Australian associations, I found myself thinking, “These lessons are just as relevant to associations in the Philippines and across Asia.” One message stood out from the very beginning: good governance is far more than compliance. Many organizations understandably equate governance with following laws, filing reports, and ensuring that constitutions or bylaws are up to date. These responsibilities are important, but as John explained, they represent only the foundation. Governance excellence begins when a board is vigilant, strategic, and prepared to respond confidently when unexpected challenges arise. One insight I particularly appreciated was his emphasis on governance as a professional discipline. Rather than relying solely on well-meaning volunteer officers, leading associations increasingly recognize the value of having someone with governance expertise, whether called a Chief Governance Officer, Company Secretary, or another title, to guide the organization in governance matters. Strong governance does not happen by accident; it

Editor: Dennis D. Estopace • Friday, August 28, 2026

tive boards focus on oversight, policy, and long-term direction, while empowering the chief executive and staff to implement agreed strategies. When each group understands its respective role, organizations become more agile, accountable, and effective. One seemingly simple lesson deserves special mention: board minutes matter. They are far more than administrative records. They document decisions, establish accountability, and may one day serve as critical legal evidence. Good governance often reveals itself not in grand policies but in consistent attention to these essential details. As our conversation concluded, I was struck by how universal these governance principles truly are. Whether in Australia, the Philippines, or elsewhere in Asia, associations succeed when boards remain strategic rather than operational, when governance documents are treated as living guides instead of forgotten archives, and when leadership is anchored on purpose rather than procedure. Compliance will always be necessary. But as John reminded us, governance excellence begins where compliance ends. It is about creating organizations that are resilient, future-focused, and capable of delivering lasting value to the members and communities they serve. For Philippine associations seeking to strengthen their governance, that may be the most important lesson of all. Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives (PCAAE), the “association of associations.” The PCAAE will hold its 14th Annual Associations Summit (AS14) on November 24, 2026 at the Asian Institute of Management. The views he expressed herein do not necessarily reflect those of the BusinessMirror. E mail: bobby@pcaae.org.

improve transport and logistics, energy, and digital infrastructure along the corridor connecting Subic Bay, Clark, Manila, and Batangas.” (See https://ph.usembassy.gov/factsheet-luzon-economic-corridor/) However, Remolona said “it may take some time before we can do it [strengthen exports].”

Savings, investments

ANOTHER factor that Remolona considered in the peso-dollar exchange rate is the country’s current account. He explained that the country’s savings is way below the country’s investments, hence the current account deficit. “Ang isa ang consideration dyan ’yung savings rate natin. Kasi pag binilang yung remittances and BPO [revenues], ang diperensya ng pumapasok na pera ang tawag dun ’yung current account,” Remolona told lawmakers. “Matagal nang negative ’yung current account natin. Hangga’t maaari sana tumaas ang savings natin, ’yun ang long-term solution. Medyo mahirap sabihin to pero mayabang tayo. May consumption culture,” he added. And for the country as a whole, the BSP governor said: “Mas malaki ’yung investments kaysa savings e. Para ma-finance ’yun, uutang tayo abroad.” Remolona spoke on the first day of Senate deliberations on the proposed 2027 national budget with the DBCC, a Philippine inter-agency body that reviews and approves macroeconomic targets, revenue projections, borrowing levels, and expenditure priorities for the budget.

Current accounts

IN an article in the BSP-published book launched last June, the central bank emphasized that managing the current account is “becoming increasingly challenging” for the Philippines. The book titled “Current Account Dynamics and the Philippine Economy: Developments and Prospects”

pinned the challenges on the pattern of the country’s economic development that is diverging sharply from the traditional industrialization route followed by many successful East Asian economies, which evolved from agriculture to industry on the way to a services-dominated economy. “This ‘premature de-industrialization’ of the economy, characterized by a weak industrial base and underdeveloped agriculture, combined with excessive dependence on low-productivity services, presents various challenges for CA management in the country,” the BSP book noted. Despite the resilient remittance inflows and the “booming” information technology and business process management (IT-BPM) industry, book authors, who included Remolona, noted that long-standing trade deficits in goods suggest that its structural weaknesses persist.

Trade gap

DATA from the Philippine Statistics Authority (PSA) showed that the country’s trade gap widened in the first half of 2026 as the country’s import payments soared to a 35-year high. Based on the “International Merchandise Trade Statistics,” the country’s import bill in January to June rose by 17.8 percent to $77.53 billion from $65.79 billion in the same period last year. The PSA said the latest figure was the highest first-half import value since the trade series began in 1991. Export earnings rose by 13.1 percent to $46.72 billion in the first half, but this was slower than the recorded increase in imports. As a result, the country’s trade deficit widened by 25.9 percent to $30.81 billion from $24.48 billion a year earlier. (See: https://businessmirror.com.ph/2026/07/30/h1trade-gap-widens-as-importshit-record-high/)

Budget deficit expanded fivefold in July

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HE national government’s budget deficit expanded more than fivefold in July due to higher disbursements for key government programs and to increased interest payments. The gap between the amount spent by the government and its revenues widened by 461.73 percent to P106.3 billion in July from P18.9 billion in the same month last year, latest data from the Bureau of the Treasury showed. Despite the increase in the deficit, which was compared against a very low deficit base a year ago, tax collection performance was actually encouraging, said Union Bank of the Philippines Chief Economist Ruben Carlo O. Asuncion told the BusinessMirror. “The wider deficit mainly resulted from spending growing much faster than revenues, including higher program expenditures and interest payments,” Asuncion said. Revenues grew by 2.12 percent to P482.3 billion in July from P472.3 billion a year earlier. This was comprised mainly of tax revenues, which rose by 7.02 percent to P452.7 billion from P423 billion. The Bureau of Internal Revenue (BIR) raised P358.4 billion during the month, up by 6.92 percent yearon-year, while the Bureau of Customs (BOC) collected P91.6 billion, likewise higher by 7.48 percent from a year ago. However, non-ta x revenues dropped by 39.92 percent year-onyear to P29.6 billion from P49.3 billion. Expenditures, meanwhile, jumped by 19.82 percent to P588.6 billion during the month from P491.2 billion last year to fund the implementation of various social assistance programs under the Unified Package for Livelihood, Industry, Food, and Transport

(Uplift) framework to address the impact of the Middle East conflict. Disbursements also included capital outlay projects under the Revised Armed Forces of the Philippines Modernization Program and direct payments to development partners for various foreign-assisted rail transport projects of the Department of Transportation. Interest payments also went up by 29.14 percent to P137.2 billion from P106.2 billion last year due to coupon servicing on additional domestic debt securities and global bonds, as well as the impact of foreign exchange fluctuations on foreign-currency payments. “In principle, stronger government spending is a positive sign if it supports economic growth and productivity, although the quality and efficiency of spending ultimately matter more than the size of the expenditure increase itself,” Asuncion said. Interest payments, the cost of past borrowings, are necessary to maintain fiscal credibility, Asuncion said, but these do not directly generate economic activity or productive capacity. “[The] increase in interest payments should not automatically be interpreted as high-quality spending,” Asuncion said. “Ideally, the faster growth should come from expenditures that support growth, jobs, and productivity rather than from debt servicing costs.” In the first seven months of the year, the fiscal shortfall expanded by 13.85 percent to P893.1 billion from P784.4 billion in the same period a year earlier. Year-to-date revenue collection rose by 5.05 percent to P2.87 trillion from P2.73 trillion in last year’s comparable period. Tax revenues accounted for 90.38

percent of total collections, increasing by 5.66 percent to P2.59 trillion, while non-tax revenues marginally declined by 0.31 percent to P276.1 billion. The BIR collected a total of P1.99 trillion as of end-July, up by 5.31 percent from P1.89 trillion collected during the same period last year, due to improved taxpayer services to support stronger compliance and boost collections. Likewise, the BOC recorded a 7.25-percent growth in revenue collections, collecting P583.4 billion versus P544 billion in the same period last year. This was driven by the significant increase in duties and value-added tax collection from imports primarily, thanks to the stronger US dollar and higher crude oil price, as well as improved customs procedures, intensified border protection measures, digital transformation initiatives and closer collaboration with stakeholders sustaining collections. Consequently, total disbursements in the seven-month period amounted to P3.76 trillion, 7.02 percent higher than the P3.52 trillion recorded during the same period last year. Primary expenditures reached P3.14 trillion, up by 4.91 percent yearon-year from P2.99 trillion. Cumulative interest payments jumped by 19.16 percent to P620.9 billion as of end-July from P521 billion a year earlier. This year’s deficit is seen to widen to P1.66 trillion, equivalent to 5.4 percent of gross domestic product, from last year’s P1.58 trillion. The budget hole is projected to extend until 2028, reaching P1.695 trillion in 2027 and P1.722 trillion in 2028, before contracting in 2029 and 2030. Reine Juvierre S. Alberto

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Friday, August 28, 2026 • Editor: Gerard S. Ramos

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School shootings: Blame the games?

TODAY’S HOROSCOPE By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Jason Priestley, 57; Jack Black, 57; Shania Twain, 61; Luis Guzman, 70. HAPPY BIRTHDAY: Change may be on your radar, but before you begin, put an end to matters you don’t want to drag into your future. Maintaining a good reputation will help you promote what you want to pursue. Refuse to take a risk with contracts, investments or anything that can disrupt your health and well-being. Be true to yourself, and take care of both personal and professional business. Your numbers are 5, 12, 22, 34, 37, 45, 49.

PHOTO BY THOMAS PARK ON UNSPLASH

ARIES (March 21-April 19): Look for opportunities to expand your interests, meet new people or take a relationship or a personal goal to a higher level. A lifestyle change will lift your spirits and encourage you to use your creative imagination and skills in a unique and entertaining manner. An energetic approach to helping others will pay high dividends. ★★★

TAURUS (April 20-May 20): Refuse to let stubbornness hold you back. Talks will lead to new possibilities that help you let go of what’s no longer working for you while you pursue something that you find rejuvenating. Say no to temptation, overspending and poor behavior, and focus on self-improvement, discipline and making your dreams come true. ★★★★

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T hasn’t been a pleasant few months lately for our country. Aside from the monsoon rains, which have triggered a tremendous amount of flooding and evacuations, we had earthquakes, intermittent volcanic eruptions, and then, more recently, school shootings. In the United States, school shootings have grown in number and fatalities since the 1990s. According to CNN, there have been some 36 school shootings in the US just this year alone, leaving 23 people dead and 32 injured victims. Because of this, children even in kindergarten are shown what to do in case an active shooter enters their schools. Do we now have to do the same in our country? I shudder at the thought. On June 22, two teenagers, aged 14 and 15, shot up the San Jose National High School in Tacloban after the flag-raising ceremony. Using a .38 caliber revolver and a Glock 9mm semi-automatic pistol, the two teens, one of a student at that school, went on a shooting spree, which resulted in the deaths of three students, and the wounding of 15. The revolver was supposedly a service firearm of one of the suspects’ grandfather, who used be a security guard, while the Glock pistol was the service firearm issued to an aunt, a police officer. Then on August 18, a junior high school student of the Ateneo de Zamboanga, armed himself with a Glock 22 .40 caliber semi-automatic pistol and went to school. He shot at a teacher first but missed, then shot a student in another classroom. Reports said the suspect shot at other students fleeing the room, ran to another floor while yelling, and turned the gun on himself. He did all these while using a body camera to livestream the event. Mercifully, there were no other fatalities, although some 23 students were injured. Police also recovered a 9mm pistol with a conversion kit on the teen’s person. Both firearms are owned by the suspect’s father, a Customs police chief. Of course, our talking heads (i.e., legislators and politicians) are quick to blame social media and allegedly violent online games like Gorebox and Roblox as the cause of these shootings. I disagree, for the simple fact that thousands of Filipino kids probably play these online games as well, so why only these three teenagers were emboldened to shoot at fellow students? To my mind, the cause of the shootings is the easy accessibility of guns to these suspects. In the two cases, the teens knew where the guns were located, and they knew they could readily get them. In Tacloban, the police officer-aunt kept her Glock pistol in a “gun box inside a plastic locker,” according to one published report. Her nephew had apparently broken into her locked home, before stealing her gun from the plastic locker. Which means, the nephew had seen her hide the gun before. In the Zamboanga incident, according to Customs Commissioner Ariel F. Nepomuceno, the suspect was

GEMINI (May 21-June 20): Refuse to let your emotions take you down a slippery slope. Be observant, and keep your thoughts to yourself. Do your best to save your money. Be true to yourself and the pastimes that make you happy. Personal growth, selfhelp and exploring your options are favored. ★★

CANCER (June 21-July 22): Engage in activities that make you think, and you’ll gain insight into people and places that offer healthy outlets. It’s time to follow the path that leads to personal joy instead of always doing for others and putting their happiness before your own. Traveling, learning and socializing are encouraged. Let go of what’s holding you back. ★★★★★

LEO (July 23-Aug. 22): Explore what’s available to you, and push yourself to participate in events and activities that give you something to look forward to. It’s time to expand your circle of friends as well as your interests and to take a position of leadership where applicable. If you embrace a positive attitude, gratitude will follow. ★★★

able to get the firearms of his father from the latter’s car. So these were likely hidden in plain sight. So perhaps, instead of banning these online games outright, responsible gun ownership must be first strictly adopted. Entities allowed to legally issue firearms should instruct their personnel to store their firearms better so they remain safe away from the young and others unauthorized to use them. The same goes for private gun owners. And if there are no direct laws right now to make these gun owners suffer the consequences of the unauthorized use of their firearms, then that is what lawmakers ought to address first. Gun owners should be liable when their guns are used by others, especially when these result in deaths and injuries. Meanwhile, I do agree that there should be a minimum age when children can be allowed to go online and use social media. Psychologists have discovered that the brains of children below 16 years are just too undeveloped to absorb the variety of information available online, and are too immature to process these to be able to regulate their emotions. As such, many of kids these days grow up comparing themselves to their friends and try to outdo each other in their posts, become hooked as their screens flicker with one image/text after another in a never-ending quest for immediate satisfaction, and are unable to sleep properly as the blue light emitting from their screens trick their brains into thinking that it’s daylight. For sure, there are also children who may already have mental-health issues to begin with, who are easily drawn to violent and other inappropriate content online. And with the anonymity afforded in social media platforms, some young users become bullies— although they are likely influenced by real-life examples first instead of the online platforms per se— or are victims of bullies themselves. But I think the parents themselves first need to regulate their own personal use of social media. There have been too many times I’ve observed families dining at one table, yet all of them are on their phones,

not even talking to each other. At home, the parents are on their phones or tablets looking through Facebook or doomscrolling with their TVs on, while they leave their kids unchecked in their rooms. The parents hope their kids are studying, but in reality they are playing online games. Many parents often leave it up to their children’s schools to regulate their spawns’ behaviors. Perhaps it’s time for parents to reclaim their authority over their children and keep a closer watch on the latter’s movements, not in a helicopter parent manner, but in that gentle but unintrusive way, in which many of us grew up. First of all, parents have to put down their phones, if they want their kids to get offline. While it’s important to keep in touch with your children, give them regular flip phones instead. These are adequate for your kids to receive your calls and for your kids to call you. (Apple 17? Ano ka, sinuswerte?!) Put your kid’s computer in a main family room (or the primary), so you can monitor what he is doing. Give him a set time to do his assignments, and after that maybe an hour of video games. If you’ve given him a tablet or a mobile phone with the bells and whistles, ask him to surrender it after he’s done his homework. Psychologists advice putting away phones, tablets, even TVs—which all emit blue light—from one to three hours before sleeping time to ensure a restful night. When all else fails, just switch off the family’s internet access when it’s time to go to sleep. Yes, it’s probably a good idea for government to prohibit kids from using major social platforms; for me, the cut-off age should be 18, similar to the drinking age. And social media companies should also be required to install tools that can verify a user’s age. But let’s not forget that the job of policing minors begins at home. It’s easier said than done, of course. Parents need to be good examples of responsible online use, and exercise more vigilance in checking up on their kids. And maybe it’s time to go back to basics. A board game of Snakes and Ladders never hurt anyone.

VIRGO (Aug. 23-Sept. 22): Negotiations will require compromise. Pay attention to detail, and ask for professional help if it will help you avoid regret and long-term consequences. Change can be good, but first you must keep your emotions in check and your goal in sight. Doing what’s best for everyone will help you gain the confidence, respect and desired results. ★★★

LIBRA (Sept. 23-Oct. 22): You can make personal progress if you choose the right path. Refuse to let indecisiveness hold you back. Mistakes are lessons that help you gain insight into new possibilities. Don’t limit what you can do by standing in your own way. Put your energy into pursuing your happiness. Self-improvement and romance are favored. ★★★

SCORPIO (Oct. 23-Nov. 21): Build your own networking group. Be a host, make suggestions and become the go-to person. You’ll gain confidence and a chance to call the shots. Being candid will change how others perceive you and help you weed out those who are to your detriment. Keep your life simple, be direct and watch your plans manifest into something worthwhile. ★★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Stick close to home and decide what’s required of you to up your game and to get ahead. Stop wasting time and energy on people and projects that don’t fulfill your needs. Look for what excites you, and refuse to let anyone use emotional blackmail to intervene and push you in a direction that helps them more than you. ★★

CAPRICORN (Dec. 22-Jan. 19): Consider your plans, and rethink what’s important to you. It’s time to sever your ties with those who are heading in a different direction. Invest in yourself and the prospects that excite you, and let go of the past. Stop worrying about what you cannot change, and focus on what will serve you financially, contractually, emotionally and physically. ★★★★ AQUARIUS (Jan. 20-Feb. 18): It’s all about what you want to pursue. Think big, but don’t lose sight of what makes you tick and brings you joy. Mixing business with pleasure will encourage new beginnings. Don’t hold back. Display what you do best, and you’ll gain ground. A financial gain will stabilize your life and give you the confidence to pursue your dream. ★★★

PISCES (Feb. 19-March 20): Feel it, pursue it and find your way forward. Refuse to let the changes others make lead you down the wrong path. Put your energy into what brings you the highest return. Speak up and say no to those trying to take advantage of you. It’s time to put yourself first and to pursue what satisfies your soul. ★★★ BIRTHDAY BABY: You are compassionate, systematic and enthusiastic. You are frugal and reliable.

‘de-crease’ BY JARED CAPPEL

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit/Andrian Johnson/Taylor Johnson ACROSS 1 Interactive interview sesh on Reddit 4 Go for a run in the winter? 7 “Sick!” 10 Marvel movie franchise, briefly 13 Made bubbly 15 Wolfgang ___ Mozart 17 They get what’s coming to them! 18 Montreal daily 19 Less fresh 20 Tipsy 21 “Great minds think ___” 23 Ex-QB Manning 24 Backgammon or Boggle 26 Good listener? 28 Celebrity gossip show 32 Laid low? 35 Buffalo’s lake 36 Burglarize 37 Sucker 38 “Hamilton” star Phillipa 40 Craft beer letters 41 Apple desktop 43 Learn of 46 Determined to do

48 Greek T 49 Clean between the teeth 50 See 67-Across 52 “Creed” actress Thompson 54 Older “Frozen” sister 58 “Gotcha” 62 Sailing event 63 Resolve ... or a chemical hint for resolving the starred clues’ answers 64 Congressman whose name is an anagram of “general” 65 Old debts 66 Naval letters 67 With 50-Across, “Brokeback Mountain” director 68 12/31 69 ___ G. Biv DOWN 1 Oohs and ___ 2 With 11-Down, rom-com trope of an adorable first encounter 3 Diva’s solo 4 NFL team in black and gold 5 Gymnast Strug 6 Driver’s licenses, passports, etc.

7 Pasta sauce brand 8 Wow 9 Wow 10 Dole (out) 11 See 2-Down 12 Pre-owned 14 On fire 16 Give the meaning of 20 Word after “gummy” or “teddy” 22 “That’s yours now” 24 Bearded garden statue 25 Giant opportunity? 27 Pet adopted from a shelter 29 “Wicked” star Cynthia 30 Premoistened cloths 31 Blackens on the grill 32 Apt name for a florist? 33 It’s hot, but not for long 34 Scooby-___ 39 Where some oil rigs are located 42 Shirt part that might be popped 44 Appease fully 45 Jerry’s ex on “Seinfeld” 47 Snapple rival 51 Consumed

53 “My bad” 54 Herr’s wife 55 Fish that are snakelike 56 Foods dyed on Easter 57 Large canine? 59 Fly high 60 Spanish currency 61 Artisan’s website 63 Actor McKellen Solution to today’s puzzle:

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Show BusinessMirror

Editor: Gerard S. Ramos • Friday, August 28, 2026

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‘Ibarra’ heads for Ilocos; ‘Atang’ to charm Bulacan Dolly Parton, music star, actor and beloved figure who spanned generations, dies at 80 of cancer NASHVILLE, Tennessee—Dolly Parton, the country music icon whose soaring vibrato vocals, poignant songwriting and sparkling costumes defined her rise from a log cabin in the Tennessee mountains to the height of stardom and acclaim, has died in Nashville. She was 80. “After bravely facing a brief battle with cancer, Dolly departed her Earthly life today at the Vanderbilt-Ingram Cancer Center surrounded by loved ones,” her publicist, Marcel Pariseau, said in a statement Tuesday. Known for her curvy physique, massive blond wigs and skin-tight outfits that served her self-deprecating wit, she was among the most beloved personalities in music and beyond—the rare celebrity whose appeal transcended generations, geography and politics. She wrote hundreds of songs, including classics like “Jolene,” “Coat of Many Colors” and “I Will Always Love You,” that totaled more than 100 million worldwide sales and more than 1 billion online streams. Parton, who plucked bejeweled banjos, guitars and dulcimers with her long fingernails during performances, was a generous philanthropist and successful businesswoman whose projects included a theme park in the Smoky Mountain foothills near her birthplace. Her career was forever influenced by her upbringing as one of 12 children born into what she called a “dirt poor” Tennessee family. She started her education nonprofit, Imagination Library, to send free books to children in Tennessee because her father, who quit school to work on the farm, struggled to learn to read. For millions of fans, she was simply “Dolly,” a mixture of Southern charm, humor and glamour. But she was also considered a feminist role model for holding the reins of her own career, writing her own songs, owning her content and looking after her finances in an entertainment world dominated by men. Parton was open to making fun of herself; when she hosted Saturday Night Live in 1989 she told the writers that her only restrictions were she wouldn’t curse and she wouldn’t make fun of Jesus. She regularly joked about her breasts or her dumb blonde appearance, but with a wink that she was the one controlling the laughs. In the memoir My Life So Far, actress Jane Fonda, Parton’s costar in the seminal hit 9 to 5, remembered Parton’s way with a wisecrack, “usually high raunch,” and a laugh that was “somewhere between a girl’s giggle, an explosive shriek, and a cascade of little bells.” With 55 Grammy nominations and 10 wins, Parton is the third-most nominated woman in Grammy history, only behind Beyoncé and Taylor Swift. Parton spanned social and political divides, through multiple generations of fans, urban and rural and in between. In tumultuous election years, it wasn’t uncommon to see “Dolly for President” shirts. But she was strict in not voicing her own political beliefs, often turning aside questions about presidents, candidates, policies and other controversies. “I don’t do politics,” Parton told host Jad Abumrad on his hit podcast Dolly Parton’s America. “I have too many fans on both sides of the fence. Of course, I have my opinion about everything, but I learned years ago to keep your mouth shut about things.” When the Rock & Roll Hall of Fame Foundation sent out a ballot in 2022 with her name on it, though, she said she felt she hadn’t earned it, the voters answered with a “Hello, Dolly.” Parton showed up to the induction ceremony, performed and then put out a rock album. AP

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WO wonderful, original Filipino theatrical productions will be re-staged on the first weekend of September outside Metro Manila. The first is Ibarra...Ngayon, which had a limited performance last June at the GSIS Theater. Directed by Frannie Zamora, the historical musical is based on the character created by Philippine National Hero Jose Rizal in his 1887 novel Noli Me Tangere. Joed Balsamo composed the music from the libretto of Jomar Fleras. Ibarra...Ngayon will have four performances on September 4, 5 and 6 at the Ilocandia Cultural Center in Batac City with basically the same cast that performed in Manila. Ilocos Norte governor Cecilia Araneta-Marcos is elated that the province’s cultural center is emerging as a very visible hub for the province’s many programs for the arts, culture and tourism. “This confirms that the Ilocandia Cultural Center is becoming exactly what we have envisioned it to be—an active space for culture and artistic excellence where every Ilocano can watch shows and witness performances without ever having to leave the province,” the governor said, adding, “We welcome the production and artistic teams of the historical musical Ibarra...Ngayon to Ilocos, and I’m very positive that this is just the beginning of many original Filipino theatrical and dramatic productions that will be made readily available for the student population and Ilocanos of all ages to enjoy, be entertained, and learn from.” Sparkle artist Derrick Monasterio will lead the cast as Crisostomo Ibarra and he told us that he is bursting with excitement. “Being part of a touring musical theater production is something that I haven’t experienced and this opportunity to perform in Ilocos Norte and to share this musical with our Ilokano kababayans is very special. I was told that the audience will be mostly students and I am thankful for this chance to perform for them. This project is certainly a gift that keeps on giving.”

‘ATANG’ IN BULACAN

AS the historic province of Bulacan winds up its celebration of the Singkaban Festival, with festivities

to commemorate the province’s 448th founding anniversary, there is a special place reserved for outstanding theatrical productions that were successfully staged in the past. Bulacan governor Daniel Fernando is more than glad to support arts, culture and traditions, and he shared that the province’s premier theater group Dulaang Filipino Sining Bulakenyo will be mounting Floy Quintos’s Atang at the Hiyas ng Bulacan Cultural Center during the first two weekends of September. “We have a very rich history that we need to appreciate and cherish, and amazing traditions that we need to nurture and pass on. We also have extraordinary talents in Bulacan that we continue to discover and rediscover, that is why we make sure to provide them with platforms and venues to showcase their God-given gifts and talents,” Fernando said. Shamaine Centenera-Buencamino, a multiawarded actress for theater, television and film, will give life to the renowned zarzuela queen Atang de la Rama, a very colorful artist filled with truth, talent and tenacity, and one whose brand of art continues to shape and stir the minds and hearts of people up to

this day. “Every chance to perform a character written by the great Floy Quintos is a big honor for me, especially now that he is no longer with us. I am more than fortunate to have had several collaborations with a genius like Floy during his very colorful lifetime. He gave actors like me not just complex, rich and interesting characters, but the projects he entrusted to me certainly touched my core as a Filipino, especially when he used our history as the source for his materials as a playwright and director. Floy is a league all his own, a visionary, and this chance to give life anew to the character of Atang and share it with a new generation of audience in Bulacan is truly invaluable,” shared Shamaine. Interestingly, this production that will surely charm the Bulakeños is directed by Nonie Buencamino, himself a highly-touted thespian, with musical arrangement by Nonie’s older brother Nonong Buencamino and choreography by Delphine Buencamino-Abesamis, the eldest daughter of the Buencamino couple. Sharing stellar billing is promising actress Jeanna Maurice Lapada.

10 SONGS VIE TO BECOME PHL’S ENTRY FOR EUROVISION SONG CONTEST ASIA 2026 By Patrick Villanueva TEN songs, one winner. The Philippines will finally make its debut in the Eurovision Song Contest and is now looking for its entry to be finalized on the Philippine Selection Night on August 30. The Eurovision Song Contest is a long-running TV music competition held by the European Broadcasting Union (EBU), with only EBU members eligible to participate. However, its expansion into Asia has enabled several countries in the region to host their own events. Participating countries can only enter one song each. As such, the Philippines will hold “Pili, Pinas,”

the Philippine Selection Night, to finalize which original song will be making its way to the world stage. The 10 finalists are as follows: “Between Bituin,” penned by Jungee Marcelo and performed by P-pop group DNA; “Beyond Broken Repair,” penned by Angelo Gonzales and performed by SAGA; “Cheri[e],” written by Nar Cabico, and performed alongside Elha Nympha, Esang de Torres, and Lance Reblando; “Di ‘Yan [Red Flag]” composed by Jason Marvin Hernandez and performed by Jason Dy and Sassa Dagdag; “Good for You” by Hazel Faith and interpreted by Ryssi Avila; “Make It Exist” by Angelo Calucin and performed by AJAA; “Mapadama” by Jungee Marcelo

and Jeremy Glinoga, and performed by JM dela Cerna and Marielle Montellano; “Reason To Leave” by Stephen Tan and interpreted by KHIMO; “Round N’ Round” by Julius James de Belen and John Michael Conchada, and performed by VVINK and WRIVE Russu; and “Sobra Sobra” by Nica del Rosario and Mat Olivades, and performed by Carmelle. Listen to them before the Philippine Selection Night, as these songs were released on streaming platforms on August 17. The winner of this competition will present their song at the Eurovision Song Contest Asia 2026, to be held in Bangkok, Thailand on November 14, with ABS-CBN serving as its broadcast partner.

GMA Network joins DTI in launching AI & Scale-Up Center GMA Network, through its digital arm and subsidiary GMA New Media Inc. (NMI), joined the Department of Trade and Industry (DTI) in launching the AI & Scale-Up Center on August 11 in Makati City, advancing its commitment to technology-driven innovation and digital transformation. Representing the network at the launch was GMA NMI president and chief operating officer Dennis Augusto L. Caharian, who joined Trade Secretary Ma. Cristina A. Roque, Trade assistant secretary Nylah Rizza D. Bautista, and Converge ICT Solutions Inc. co-founder and CEO Dennis Anthony H. Uy. Also in attendance were business leaders and foreign dignitaries.

FROM left: IBM Philippine country general manager and technology leader Leo Capinpin; GMA NMI president and COO Dennis Augusto L. Caharian; SME group senior vice president and head Dino Marzan; Sarah Hulton OBE, British ambassador to the Philippines; Trade Secretary Cristina A. Roque; Converge ICT Solutions Inc. CEO and co-founder Dennis Anthony Uy; Dato’ Abdul Malik Melvin Castelino, ambassador of Malaysia to the Philippines; and Trade assistant secretary competitiveness and innovation group Rizza D. Bautista at the launch of the Department of Trade and Industry (DTI) AI & Scale-Up Center in Makati City on August 11, 2026.

“This AI and Scale-Up Center provides a realistic, accessible entry point for Filipino businesses to explore and adopt modern technology like AI. Scaling a business requires usable tools and expert guidance so that innovative ideas can turn into functional solutions,” shared Secretary Roque. The DTI AI & Scale-Up Center is a practical hub for technology adoption and business growth stemming from the partnership between DTI and Converge. Through the center, companies, startups and local enterprises can learn to integrate artificial intelligence and digital tools directly into their operations. “The real opportunity for MSMEs is not simply to adopt AI para masabi na

AI-enabled sila, but to really understand where it can create meaningful business value in terms of improving productivity, reducing operational costs, creating better customer experiences, or even possibly discovering entirely new business models,” said Caharian. As GMA Network’s innovation and technology center, GMA NMI plays a strategic role in shaping and driving the network’s digital transformation by adopting emerging technologies, developing various platforms, and creating technology-driven experiences for audiences. Key partnerships and collaborations further drive the network’s commitment to innovation and leadership across multiple platforms.

DERRICK MONASTERIO (left) and Shamaine CenteneraBuencamino

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Friday, August 28, 2026

Rainy days, hidden risks: Why year round preventive care matters for dogs

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ersistent rains and flooding across communities make year-round preventive care more important than ever to keep dogs healthy and protected. These conditions can increase their exposure to parasites and other health risks, reinforcing the need for pet owners to stay proactive about their dogs’ health.

This International Dog Day, Boehringer Ingelheim reminds pet owners that preventive care should not take a break when the rain comes. Keeping dogs protected through regular veterinary care, vaccinations, parasite protection, and good hygiene can help prevent health concerns throughout the year and support their overall wellbeing. “International Dog Day is a timely reminder that caring for our dogs means taking proactive steps to protect their health,” said Dr. Vincent Casimero, Head of Business Segment, Pets, Boehringer Ingelheim Animal Health Philippines, Inc. “When we protect our dogs’ health, we also help protect the families and communities around them. Regular preventive care helps pet owners address health risks early and give their dogs the protection they need throughout the year.” One health risk that can become more concerning during periods of rain and flooding is leptospirosis, a bacterial disease that can affect both dogs and humans. Rats are a major source of infection, and dogs can contract the bacteria through contact with water, soil, or other environments contaminated with infected urine. While flooding and stagnant water can increase exposure, leptospirosis can also occur in urban communities where rodents are present. Early signs in dogs can include fever, lethargy, vomiting, and diarrhea, which may resemble other illnesses. Severe infections can damage the kidneys and liver, cause bleeding disorders, and lead to other serious

Celebrating 20 years of local craft as Padday na Lima builds a sustainable future Everyday moments of companionship remind pet owners that keeping dogs healthy means staying proactive with preventive care, from vaccinations and parasite protection to regular veterinary visits. These simple steps can help protect dogs from a range of health risks and support their well-being throughout the year, so they can enjoy more happy moments with their families. complications. Pet owners should consult a veterinarian promptly if their dog shows signs of illness or may have encountered contaminated environments. Leptospirosis is an important health risk to watch for, but it is only one of the concerns that can affect dogs. Changes in weather and the environment can also increase their exposure to parasites and other preventable health risks, reinforcing the importance of year-round preventive care. Rainy weather may bring added risks, but preventive care matters in every season. A consistent preventive care routine helps pet owners protect their dogs from a range of health concerns, while regular veterinary guidance can help ensure their dogs receive care suited to their lifestyle and environment. Pet owners can help protect their dogs by: Keeping vaccinations up to date based on their veterinarian’s advice. Staying consistent with parasite protection. Steering dogs away from puddles, stagnant water, and floodwater. Making sure they have access to clean, safe drinking water.

Keeping homes and surrounding areas clean to help keep rodents away. Scheduling regular veterinary visits to support preventive care and early detection of health concerns. By making these practices part of everyday pet care, owners can help give their dogs the protection they need— not only during the rainy season, but throughout the year. Dogs are more than pets; they are part of the family and share the same homes and environments as the people who care for them. Keeping them healthy can also help protect the people and communities around them. This reflects the need for a One Health approach, recognizing that animal, human, and environmental health are closely linked. Boehringer Ingelheim Animal Health Philippines, Inc. is committed to advancing preventive animal health and responsible pet ownership, working with veterinarians, pet owners, government, and industry partners to support healthier animals, families, and communities. This International Dog Day, show dogs the love they deserve—talk to a veterinarian about year-round preventive care and the protection your dog needs.

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AGAYAN Valley’s vibrant craftsmanship, flavors, and entrepreneurial spirit have arrived in Alabang as the Department of Trade and Industry (DTI) Region 2 opened the 20th Padday na Lima Regional Trade Fair on August 24, 2026, at Festival Mall. With more than 100 MSMEs from the region’s five provinces, this milestone fair invites shoppers to discover products that are proudly local and thoughtfully made with sustainability in mind. Carrying the theme “20 Years of Vibrant Hands: Crafting a Sustainable Legacy of Culture and Community,” this year’s Padday na Lima goes beyond showcasing products as it celebrates the hands, stories, skills, and communities that make them possible. From regional delicacies to handcrafted pieces and other unique finds, visitors can experience Cagayan Valley’s local enterprise way of keeping culture and sustainability alive. The celebration drew distinguished guests including Trade and Industry Undersecretary Blesila A. Lantayona, Muntinlupa City Mayor Rozzano Rufino B. Biazon. Meanwhile, First Lady Louise Araneta-Marcos and the provincial local government units of Batanes, Cagayan and Isabela conveyed their support for the trade fair. Department of Trade and Industry Region 2 Regional Director Ma. Sofia G. Narag, CESO V, and Acting Assistant Regional Directory Atty. Michael

B. Paggabao welcomed them all to the celebration with the fair’s guests. The Padday na Lima Website 2.0 was also relaunched, along with DTI Region 2 and the DOT’s Lakbay Likha: A Creative Tourism Experience, opening new possibilities for local products and craftsmanship by connecting them with the region’s tourism destinations and experiences. The spotlight also shone on enterprises making a difference through the Padday na Lima MSME Awards, which recognized businesses demonstrating innovation and sustainability. Adding flair to the celebration, the 20th Padday na Lima Fashion Show, “Hibla’t Habi ng Rehiyon Dos: Padday na Lima Collections,” transformed local materials and traditional craftsmanship into contemporary fashion under the creative direction of Nueva Vizcaya-born designer and Region 2 Creative Icon Michael Barassi. The opening festivities culminated in a ceremonial bamboo tapping and the launch of the Padday na Lima Song, followed by an exhibit tour that officially opened the fair to shoppers. For 20 years, Padday na Lima has been bringing Cagayan Valley closer to wider markets while helping sustain the people, skills, traditions, and livelihoods behind every product. Now, it’s your turn to experience it. Visit Padday na Lima at Festival Mall until August 30, 2026 and discover your next local favorite.

From QC to the nation: SM Hotels champions hospitality as a pathway to second chances

Park Inn by Radisson North EDSA General Manager Ann Olalo and Marissa Basa

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M Hotels & Conventions Corporation (SMHCC), through its hotel properties Park Inn by Radisson North EDSA and Radisson Blu Hotel Cebu, is utilizing hospitality training to help Persons Deprived of Liberty (PDLs) gain industry-relevant skills and transition into actual employment. Through partnerships with local governments, the Bureau of Jail Management and Penology (BJMP), the Technical Education and Skills Development Authority (TESDA), Radisson Hotel Group, and other stakeholders, SM Hotels is helping create a practical link between skills development, hospitality employment, and life beyond detention. This nationwide advocacy traces its beginnings to the Quezon City Government under Mayor Joy Belmonte, whose “No Woman Left Behind” and “No Juan Left Behind” programs provide PDLs with opportunities to gain practical skills and prepare for their transition back into the workforce. SM Hotels has supported these initiatives by bringing its hospitality expertise and training capabilities into the programs, creating opportunities for qualified graduates to apply their skills in an actual hotel environment. In 2024, Park Inn by Radisson North EDSA launched Basic Housekeeping Skills Training for women PDLs at the Quezon City Jail Female Dormitory. The program expanded in 2026 to the Quezon City Jail Male Dormitory through Basic Food and Beverage Operations Training, providing both women and men with industry-relevant skills aligned with actual hotel operations. For SM Hotels, the impact of these programs goes beyond training completion. The ultimate measure is the ability of graduates to translate their newly acquired skills into meaningful work. In particular, Park Inn by Radisson North EDSA recently welcomed Severino Montallana II, its first hire under the “No Juan Left Behind” program. After completing the Basic Food and Beverage Operations Training while at the Quezon City Jail Male Dormitory, Montallana regained his freedom and subsequently joined the hotel workforce. Montallana joins Marissa Basa, the first graduate of the hotel’s Basic Housekeeping Skills Training for women PDLs to secure employment at Park Inn by Radisson North EDSA after her release. “The stories of Marissa and Severino remind us that rehabilitation becomes truly

meaningful when it leads to a real opportunity beyond the walls. We are proud to be part of a program that gives people the chance to move forward with dignity and purpose,” said Reycie Gutierrez, General Manager of Park Inn by Radisson North EDSA. The programs are anchored on collaboration among the Quezon City Government, BJMP, SM Hotels, Radisson Hotel Group, Multi-Access Cooperative, and training partners, demonstrating how government and the private sector can work together to build a framework that connects rehabilitation and skills development with employment. The said approach has already gained ground beyond Quezon City, with its implementation in another SMHCC property in Cebu. At Radisson Blu Hotel Cebu, a similar hospitality training program is being conducted at the Cebu City Jail Female Dormitory in partnership with BJMP, TESDA, and other stakeholders. Under the “Skills Behind Walls” program, PDLs receive hands-on housekeeping training in a mock-up hotel room built within the jail facility and aligned with hospitality industry standards. The first Cebu batch produced 24 graduates, with Kimberly Cabahug among its success stories after securing employment as a public area attendant at Radisson Blu Hotel Cebu and beginning her journey back into the workforce. “This is not just about giving a job. More importantly, it is about giving people the skills, confidence, and opportunity to rebuild their lives and become productive members of society,” said Ann Olalo, General Manager of Radisson Blu Hotel Cebu, highlighting how employment can help former PDLs transition back into the community and establish more stable livelihoods. The programs in Quezon City and Cebu demonstrate how SM Hotels can use its properties, hospitality expertise, and operational environment to provide training that is directly relevant to the workplace. With hotels requiring skilled personnel across housekeeping, food and beverage, public areas, kitchen operations, and other functions, the hospitality sector can provide practical avenues for qualified PDLs to put their training to work. The model can also be adapted by other cities based on their local needs, available training resources, and employment requirements. At its core is a practical framework: equip PDLs with industry-relevant skills, provide hands-on training, and help qualified graduates transition into the workforce. In the case of SMHCC, its portfolio of hotels across key destinations provides a platform to bring this advocacy to more locations while working alongside local governments, BJMP, TESDA, and other partners. Each program can respond to the needs of its host city while drawing on the hospitality industry’s capacity to provide relevant training and actual employment opportunities. “Mayor Joy Belmonte started this effort with a clear vision of leaving no one behind, and it has now grown into an advocacy with the potential to reach more cities across the country,” said SM Hotels & Conventions Corporation Executive Vice President Peggy Angeles. “As one of the country’s leading hospitality groups with a nationwide footprint, SM Hotels is in a unique position to help turn this vision into reality by bringing together our properties, partners, and stakeholders to help more PDLs gain skills, find meaningful work, and move forward,” Angeles added. SM Hotels is putting the capabilities of the hospitality industry to work beyond its hotels, thus turning industry training into practical skills and actual employment for qualified PDLs. From Quezon City to Cebu, its initiatives demonstrate how hospitality can serve as a platform for skills development and inclusive employment, one skill, one graduate, and one job at a time.

BCCP Executive Vice Chairman Chris Nelson

British Chamber tees off another successful golf tournament

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HE British Chamber of Commerce Philippines successfully concluded the GREAT British Golf Tournament held at Wack Wack Golf & Country Club last Friday, August 14, 2026. With more than 100 players from the wider network of British and Filipino business communities, the tournament not only celebrated the spirit and sportsmanship of golf but also the opportunity to foster meaningful connections among companies across the Philippines. The ceremonial tee off was led by the BCCP Executive Vice Chairman Chris Nelson, joined by a total of over 100 golf players on the 18-hole golf course. Nelson noted that, “Golf has always been a great way to bring people together, and this tournament reflects the Chamber’s longstanding commitment to building connections and supporting the business community. After more than a decade of bringing our community together, we are pleased to continue that tradition and thank all our partners and participants for celebrating with us.” The event was made possible by a strong lineup of sponsors including GETGO Golf Carts, Turkish Airlines, Denza, Fisherman’s

Friend, Shell, Eastern Communications, Pru Life UK, Ortigas Land, G&W Clubshares, Inc., Jollibee Group, Oakley, BritPart, Locally, Brentville International Community, Philippine National Bank, Victor Consunji Development Corporation (VCDC), and Unilever. Other supporting companies include BDO, Melcon Worldwide Logistics, Asia Brewery Incorporated, Crazy Carabao Craft Brew, Philip Stein, The Peninsula Manila, Foreplay Golf, Four Points by Sheraton, Sequoia Hotel, Seda Nuvali, Seda Lio, Grand Hyatt Manila, Home Mavericks Inc., Camp John Hay Hotels, Landco Lifestyle ventures, El Nido Resorts, Pearl Bay Villas Palawan, Lanson Place, Nova Aesthetics, Nurture Wellness Village, PLDT Enterprise, Malbon Golf, Canon Philippines, Slumberland, Mimosa Plus Golf, Island Elephant, Golf Avenue, Amari By Vivere Hospitality Group, Onésimus, Vivere Hotel and Resorts. Shinagawa Healthcare Solutions, Vitaminboost by Suncoast Brands International Corporation, FIC (Fruits in Ice Cream), Dilmah Tea, iWhite KOREA, with BusinessMirror as a media partner.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

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Editor: Tet Andolong • Friday, August 28, 2026

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Beyond Electrification:

XPENG’s physical AI ecosystem approach to mobility Story & photos by Randy S. Peregrino

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PENG is coming to the Philippines this September, and its arrival signals more than just another EV launch—it introduces an AI technology–driven enterprise with ambitions to redefine mobility. Touring its headquarters in Guangzhou, China, revealed breakthrough innovations that extend well beyond electrification. The question now is whether such advancements will translate effectively into the Philippine setting. The immersion was not a typical press junket but a deliberate unveiling of XPENG’s broader vision. Under the banner of “Physical AI,” the company showcased how artificial intelligence, robotics, and aviation converge into a layered ecosystem. This framework demonstrated how mobility solutions can adapt to the challenges of dense urban centers, offering insights directly relevant to Manila’s traffic realities. Founded in 2014, XPENG has steadily positioned itself as a leader in AI-driven mobility. With operations in Beijing, Shanghai, Silicon Valley, Munich, and Amsterdam, the company reflects a global outlook anchored in innovation. The company develops its own driverassistance systems, in-car operating platforms, and core vehicle technologies in-house. For the Philippines, its upcoming debut is not simply the entry of another EV brand—it is the introduction of a mobility philosophy shaped by AI, engineering, and a commitment to redefining transportation.

INSIDE XPENG’S LIVING BLUEPRINT OF PHYSICAL AI

AT the Guangzhou Intelligent Manufacturing Academy, the atmosphere carried an openness rarely seen in automotive facilities. Here, the brand integrated study, exploration, and production into a single spectrum. Media representatives from Southeast Asia were invited to see how AI-enabled visual inspection, smart logistics, and integrated gigacasting redefine precision. The program’s non-profit nature was equally striking—revenues reinvested into operations, underscoring XPENG’s philosophy of inclusive technology and knowledge-sharing. It was not about selling a product, but about cultivating trust in “China Intelligent Manufacturing.” Inside the Smart Factory, the scale of automation was striking. Robotics handled nearly every process, while AI-driven visual systems ensured precision difficult to match with human oversight. The gigacasting technology, integrating front and rear structures, showed how XPENG reduces weight while strengthening crash safety. Seeing this firsthand clarified one thing: the company is not merely building cars, but engineering confidence in its ability to deliver consistent quality to new markets.

FROM LAND TO SKY: ARIDGE CONCEPT MODELS AND THE LAND AIRCRAFT CARRIER

AT XPENG’s HQ, the display of ARIDGE’s flying vehicle models was more than a futuristic showcase—it was a tangible glimpse into mobility’s next frontier. Sleek and purposeful, these eVTOL concepts embodied the company’s vision

of bridging ground and air travel, offering possibilities that extend well beyond conventional roads. The highlight was the docking and demonstration of XPENG’s Land Aircraft Carrier, a platform designed to integrate flying vehicles into the broader intelligent mobility ecosystem. Watching the carrier in action underscored how XPENG envisions a seamless transition between land and air, redefining transport as a multi-domain experience. Together, the Aridge lineup and the Land Aircraft Carrier offered a convincing preview of how the company’s ambitions stretch beyond electrification, toward a future where cars and aircraft converge into one intelligent system of movement.

VLA 2.0 ON THE STREETS: INTELLIGENT DRIVING IN REAL-TIME

EXPERIENCING XPENG’s VLA 2.0 (Vision, Language and Actions) through the L03 fastback coupe SUV was a grounded revelation of how intelligent driving technology can adapt to the chaos of real-world traffic. From an autonomous driving standpoint, it offers near‑Level 4 capability. On Guangzhou’s busy streets, the system was tested against sudden lane changes, erratic vehicles, and shifting traffic flow. What stood out was its ability to anticipate rather than simply react. When an oncoming vehicle cut across unexpectedly, VLA 2.0 adjusted speed and trajectory with composure, avoiding conflict without abruptness. The system’s layered awareness extended to city speed limits and traffic stops. It identified street signs and traffic lights with precision, counted them, and adjusted behavior accordingly. At intersections, it slowed deliberately,

recognized signals, and resumed movement seamlessly. During U-turns— often the most stressful maneuver in dense traffic—the L03 executed them with confidence. It gauged timing, interpreted gaps, and pivoted smoothly, turning what is usually a tense moment into a calculated move. Equally impressive was the advanced auto-parking assist function, even for unmarked non-standard spaces. Back at XPENG’s Guangzhou HQ, the L03 scanned for suitable slots, calculated entry angles, and positioned itself with remarkable accuracy. Whether parallel or perpendicular, the SUV aligned without hesitation, reducing the margin for error that often frustrates drivers. Importantly, VLA 2.0 ensured the driver remained attentive, even as the system took over seamlessly. You can even drag the car icon to the exact spot and rotate it to decide which direction the vehicle should face— next-level auto-parking capability. For the Philippine delegation, these demonstrations carried immediate relevance. Manila’s erratic traffic, sudden stops, and scarce parking spaces mirror Guangzhou’s challenges. VLA 2.0’s foresight, discipline, and assurance in parking precision point to a system designed not as a luxury, but a necessity— an AI mobility solution poised to ease the strain of Philippine urban life.

HEADING TO THE PHILIPPINES: THE L03 AND X9

XPENG is set to introduce two significant battery-electric models to the Philippine market—the L03 fastback coupe SUV and the X9 luxury MPV. Together, they highlight the brand’s intent to deliver performance-driven, intelligent BEVs

tailored for both urban and family mobility. The L03 fastback coupe SUV features a sleek aerodynamic profile and a 71.2-kWh battery pack. It delivers up to 440 km WLTP range, with select configurations extending to 520 km. Performance is equally compelling, with dual-motor AWD producing 285 kW (387 hp) and 431 N-m of torque, enabling 0–100 km/h acceleration in just 4.5 seconds. Charging is efficient, with DC fast-charging capability reaching 236 kW, allowing a 10–80 percent charge in about 20 minutes. Inside, the cabin integrates a 15.6-inch central touchscreen, a panoramic sunroof, and XPENG’s VLA 2.0 intelligent driving system, making the L03 a grounded yet forward-looking SUV for both city and long-distance travel. The X9 luxury MPV, meanwhile, redefines premium family transport. Built on an 800V high-voltage platform, it offers up to 615 km WLTP range, with higher-capacity battery options extending beyond 630 km. Performance is notable for its size, with AWD variants producing 370 kW (496 hp) and 640 N-m of torque, sprinting from 0–100 km/h in 5.9 seconds. Rear-wheel steering reduces the turning radius to just 5.4 meters, enhancing agility in tight city streets. Charging is equally advanced, with 10–80 percent replenishment achievable in only 12 minutes. Inside, the X9 features dualchamber air suspension, zero-gravity seating, a 21.4-inch entertainment screen, and a 27-speaker HiFi system, delivering a “starship cabin” experience. For Filipino families, the X9 combines expansive space, luxury, and intelligent driving assistance with the practicality of rapid charging.

Mitsubishi bares P7-billion investment, EVIS thrust; ‘Make Luxury Personal’ THE rainy season is here and it is but natural that we see our car companies unleashing vehicles with higher ground clearances to beat floodwaters, especially in the Big City. Mitsubishi Motors Philippines Corp. (MMPC) has taken the lead as it recently launched the all-new Outlander PHEV, the electric sport utility vehicle (SUV) with a 199-mm ground clearance to go with a combined driving range of up to 1,000 kms behind a combination of gasoline engine and electric motors. Its introductory price of P2.75 million is good until September 30. The MMPC used the occasion to issue a company policy charting the next stage of its contribution to the Philippine automotive industry through investments, manufacturing expansion and future mobility initiatives. In a statement through Faye Alexis Marcelino, assistant vice president for corporate public relations, the MMPC said the company’s key initiatives are its previously announced P7-billion investment, participation in the government’s Electric Vehicle Incentive Strategy (EVIS) and the planned addition of hybrid electric vehicle (HEV) production to its local manufacturing portfolio in the Philippines.

HIRAKATA PLEDGE

MARCELINO added that MMPC’s planned participation in EVIS “marks an important step in expanding its local manufacturing portfolio through the addition of HEV production, while supporting the government’s vision of strengthening the competitiveness of the Philippine automotive industry. Through this initiative, MMPC aims to

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manufacturing portfolio, we are broadening mobility choices for our customers while supporting the country’s ambition to strengthen its automotive manufacturing capabilities.” “Our ambition extends beyond manufacturing vehicles. We want to help position the Philippines for the future by contributing to a more competitive, innovative and resilient automotive industry,” Hirakata added. Mitsubishi has consistently remained No. 2 in the race ladder with an 18.72-percent share behind perennial pacesetter Toyota Motors Philippines’ leadership of cornering almost half of the total market pie consistently. broaden mobility choices for customers while contributing to the continued growth of Philippine automotive manufacturing. Beyond future mobility, MMPC continues to invest in its people, strengthen partnerships with local suppliers, and enhance the competitiveness of its operations—reinforcing its contribution to a stronger and more resilient automotive ecosystem.” For his part, MMPC chairman Noriaki Hirakata said: “MMPC has always taken a long-term view of the Philippines. We see significant opportunities to strengthen local manufacturing, introduce new technologies, and help shape the next chapter of the country’s automotive industry.” He said expanding Mitsubishi’s operations in the country has been a company priority. “Hybrid electric vehicles represent a practical next step for the Philippine market,” Hirakata said. “By expanding our local

ABLAZA SPEECH

THE following piece from Carlo Ablaza, the youthful president of Lexus Manila, is one of the shortest ever speeches I’ve ever encountered. Here: “To our distinguished guests and the members of our Lexus family, good evening and welcome. “It is a pleasure to have you here at the Lexus Manila Gallery—a space built to inspire passion and create unforgettable experiences. “Tonight, we are here for a very special reason: to celebrate the arrival of the All-New Lexus ES. “For years, the Lexus ES has been the gold standard for luxury sedans, celebrated for its incredible comfort, beautiful craftsmanship and quiet confidence. “Our goal has always been to Make Luxury Personal. That means every single detail of this car is designed around you, ensuring that both driving and riding feel effortless. The All-

New Lexus ES honors that rich history while stepping boldly into the future.

MORE CHOICES

“THIS new model also represents our commitment to a cleaner, electrified future. We have expanded the ES lineup to include both Hybrid Electric and fully Battery Electric options. This gives you more choices to embrace electric driving in a way that fits your personal lifestyle. “On behalf of the entire Lexus team, thank you for sharing this milestone with us. We created this evening to show our deep gratitude to you. At Lexus, we don’t just build exceptional vehicles; we build lasting relationships. “We hope tonight gives you a true sense of that commitment. Without further delay, please join me in welcoming a new standard of luxury. Ladies and gentlemen, the All-New Lexus ES. Have a wonderful evening ahead.” As they say, short but sweet. Cheers, Carlo!

PEE STOP Mary Natalie “Ally” Tiongco says Lexus diehards have until Aug. 31 to avail of huge discounts on several models at Lexus Gallery Manila at BGC. What are you waiting for?....Allana Faith Rufo reports that the TGR Philippine Esports has started on August 17 and will end on September 13. The National Final is on September 27 at the SMX Convention Center in Pasay City, with the winner pocketing P100,000 and the runnerup P75,000. Go to www.facebook. com/group/tgresportschampionship/ for more details. Welcome back, Ms Mixie Flavier! Cheers!

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Aircraft Carrier during its docking demonstration

PHOTOS FROM XPENG

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L03 fastback coupe SUV

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THE XPENG X9 luxury MPV

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Friday, August 28, 2026

PCO briefs Asean communicators on its fake news drive

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HE Presidential Communications Office (PCO) brought its anti-fake news campaign to the Association of Southeast Asian Nations (Asean) stage, presenting its strategy against misinformation and disinformation at a regional media workshop in Phnom Penh, Cambodia from August 26 to 27. PCO Assistant Secretary for Private Media Arthur Los Baños outlined the country’s approach during the workshop dubbed “Minimizing the Negative Impacts of Digital Transformation in Traditional Media,” which was organized by Cambodia’s Ministry of Information. The Philippine strategy combines media partnerships, interagency coordination, law enforcement and media literacy. The campaign was formalized on March 4 through a memorandum of understanding between the PCO and nine national newspapers to strengthen cooperation in fighting false information and protecting the integrity of news and truth. Another agreement followed on April 13, bringing together the PCO, Department of Justice (DOJ) and Department of Information and Communications Technology (DICT) to strengthen the monitoring, investigation and prosecution of purveyors of fake news and disinformation. Los Baños also presented the PCO’s efforts to improve the public’s ability to critically assess information through training and workshops for educators, journalists and government communicators. The campaign has also moved into enforcement, with the PCO endorsing eight Facebook accounts and a website to the National Bureau of Investigation (NBI) for investigation over alleged fake news and false information. The latest referral, filed on Aug. 13, involved a Facebook page posing as a satirical news platform and a website falsely advertising a P30,000 Department of Health medical assistance program. The PCO said it will continue monitoring and referring verified cases of deliberate disinformation, particularly those involving public safety, government programs and matters of national interest. The two-day workshop, attended by representatives from eight ASEAN member states, concluded onThursday. Samuel P. Medenilla with PNA

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SC junks ‘second placer rule’ in local elections

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By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court (SC) has affirmed with finality its 2025 decision which abandoned the “second placer rule” that previously allowed the candidate who received the second highest number of votes to assume office if the winning candidate is later found disqualified or ineligible. The Court made the decision during its regular en banc session on Wednesday where it acted on the motion for reconsideration filed by Datu Pax Ali S. Mangudadatu which sought the reversal of the 2025 ruling that also upheld the cancellation of his certificate of candidacy for governor of Sultan Kudarat. However, the Court clarified that its ruling is limited to local elective positions covered by the Local Government Code. “The case did not address the application or non-application of the second placer rule or succession rules for national elective positions, as these issues were not raised before the Court,” the SC said. On the other hand, the Court noted that succession for national elective positions such as President and Vice President is governed exclusively by Article VII , Section 7 and 8 of the Constitution. Section 7 provides that in case of death, permanent disability, removal from office, or resignation of the President, the Vice-President shall become the President to serve the unexpired term. Section 8, on the other hand,

states that “in case of death, permanent disability, removal from office, or resignation of both the President and VicePresident, the President of the Senate or, in case of his inability, the Speaker of the House of Representatives, shall then act as President until the President or Vice-President shall have been elected and qualified” Likewise, the SC clarified that its ruling applies to other similar pending cases, stressing that second placers “have no inherent right or entitlement to be declared the winner.” In its 2025 ruling, the SC stressed that there is no legal basis for proclaiming the second placer in elections since there is no law authorizing the proclamation of the second placer. The rule on succession under Sections 44 (Permanent Vacancies in the Offices of the Governor, Vice-Governor, Mayor, and Vice-Mayor) and 45 (Permanent Vacancies in the Sanggunian) of the Republic Act 7160 or the Local Government Code (LGC) should apply instead. “The second placer rule undermines the people’s choice in every election and

is repugnant to the people’s constitutional right to suffrage. The Court cannot impose upon the electorate to accept as their representative the candidate whom they did not choose in the elections,” the ruling stated. The case stemmed from the petition for certiorari filed by Datu Pax before the SC against the Commission on Elections and Sharifa Akeel Mangudadatu, his opponent in the 2022 gubernatorial elections in Sultan Kudarat. Pax Ali won the 2022 gubernatorial race with a total of 301,404 votes, over Sharifa Akeel, who received 47,348 votes. Prior to the election, Sharifa Akel filed a petition to deny or cancel the certificate of candidacy of Pax Ali for not meeting the residency requirement. The Comelec ruled in favor of Sharifa Akeel and canceled Datu Pax Ali’s certificate of candidacy. This prompted Pax Ali to elevate the case before the Supreme Court, which ruled in favor of the Comelec and declared that the vice governor of Sultan Kudarat should assume the position of governor for the remainder of the term. The second placer rule was established in the 2012 Jalosjos Jr. v Comelec ruling of the SC. It refers to the practice of declaring the candidate who received the second highest number of votes as the winner after the winning candidate is disqualified. But, the SC said this doctrine has no legal basis. “No law authorizes the proclamation of the second placer in the elections in case the candidate who received the most votes is disqualified or turned out to be ineligible,” it declared.

‘Tangible evidence, not prejudice should govern OMB investigations’ By Jovee Marie N. dela Cruz @joveemarie

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LEGAL expert has raised concerns regarding procedural fairness and evidentiary thresholds in the Office of the Ombudsman’s investigation into the national flood control project allegations, saying that the agency’s primary responsibility is to enforce public accountability, and all official proceedings must be firmly based on “verifiable, tangible evidence rather than prejudice.” Legal expert Antonio Bucoy argued that the watchdog agency is pursuing charges without sufficient backing following recent developments, including the retraction of testimonies by multiple key witnesses and former aides involved in the allegations. Bucoy noted that previous allegations against the Leyte Rep. Martin Romualdez have unraveled following retractions from key witnesses, including former marine Orly Guteza and 25 former aides of former Party-list Rep. Zaldy Co of Ako Bicol. According to Bucoy, no private contractors, local district engineers, or Department of Public Works

DILG all set for first BARMM polls By Jonathan L. Mayuga @jonlmayuga

DTI finds 93% of vape brands unregistered

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EARLY all vape brands monitored in the local market are operating without registration, according to the Department of Trade and Industry (DTI), which said 292 out of 313 brands—or 93 percent—remain unregistered. Trade Assistant Secretary Marcus Valdez II disclosed the figures during the August 25 House of Representatives Committee on Ways and Means hearing on tobacco and vapor excise taxes, where lawmakers and government agencies examined the growing illicit market and proposals to simplify the tax structure for vapor products. “From our survey, there are 313 vape brands in the market; about 292 are not registered. So, it’s at 93 percent,” Valdez said. He said the number of compliant brands could shrink further. Of the 18 registered vape brands he previously cited, two—Shift and Chillax—are now subject to cancellation, consistent with findings submitted by the Bureau of Customs (BOC) to the committee. The DTI official said companies had been given an

opportunity to comply with registration requirements, but some continued to sell their products without doing so. He stressed that the agency filed charges and imposed penalties against violators. Valdez also drew a distinction between legitimate retailers and illicit or noncompliant sellers as the committee examined concerns over vapor products being sold to minors. “I don’t think legitimate traders would be selling to minors. During our monitoring we would see retailers in the malls where they have explicit signs saying that minors are not allowed to enter. I know for a fact that in the big malls they are refusing to cater to minors. But for the establishments outside malls, here you find them [illicit sellers] in the strip malls or in the streets,” Valdez said. “It’s been our experience that when we monitor during daytime these establishments are closed, they open at night when most of the government workers are already at home,” he added. The scale of unregistered products prompted lawmakers to examine whether the

existing tax structure itself has contributed to noncompliance. Marikina Rep. Romero Federico Quimbo of Marikina said the significant tax disparity between nicotine salt and freebase products has been a key reason why few nicotine salt brands have registered with the DTI. “They will not register because the tax is too high. It’s not because of the preferred chemical composition,” Quimbo said. The DTI supported proposals to unify excise tax rates for nicotine salt and traditional freebase vapor products. The Department of Finance (DOF), Bureau of Internal Revenue (BIR), and BOC similarly backed replacing the current two-tier system with a unified rate to strengthen enforcement, while leaving the specific rate for further discussion. Party-list Rep. Roberto Nazal of Bagong Henerasyon said committee members had already found common ground on the role of the two-tier structure in creating opportunities for revenue leakage. See “DTI,” A14

and Highways (DPWH) officials—including former Public Works Secretary Manuel Bonoan—have formally linked the former Speaker to ghost or substandard flood control projects. Bucoy emphasized that while the Ombudsman’s duty is to enforce public accountability, proceedings must be anchored strictly on credible, tangible evidence rather than prejudgment. He also questioned the basis of the Ombudsman’s claim of having 28 new witnesses, noting that the announcement closely coincided with statements from lawyer Levito Baligod, who represents a group of whistleblowers known as the “Maleta Boys.” Bucoy urged the Ombudsman to ensure independent verification of witness testimony rather than relying on shifting narratives, adding that any case lacking solid legal grounding should be dismissed in accordance with due process. Bucoy recalled that before Ombudsman Jesus Crispin Remulla decided to conduct a preliminary investigation on the allegations against Romualdez, he already labelled the lawmaker as a mastermind in the flood control scam.

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HE National Police (PNP) will deploy 5,000 personnel as authorities intensify efforts to ensure the peaceful and orderly conduct of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Parliamentary Elections on September 14. Interior Secretary Jonvic Remulla said preparations are 98 percent complete, confident that the efforts to ensure a peaceful election will prevail. “Just a very little bit more, it’s just fine-tuning now. We’ll make sure that nothing happens again, but [we are] 98 percent [ready]. All the polling precincts are there, all the contingencies are there,” Remulla said following a command conference at the Police Regional OfficeBARMM. Remulla went to Camp Brig. Gen. Salipada K. Pendatun in Parang, Maguindanao del Norte, to assess preparations for the coming elections. He was joined by the National Police chief, Gen. Jose Melencio C. Nartatez Jr. and other key officials. The DILG chief also called on the Bangsamoro electorate to carefully choose the leaders who will help shape the future of the region. “Choose your leader wisely; your future depends on them.”

Remulla said all hands are on deck to ensure that the Bangsamoro electorate can exercise their right to vote in a peaceful and orderly environment. He added that 5,000 police officers and additional personnel will be deployed in the region for the elections. “The peace and order situation [is vigilantly attended to]... 5,000 policemen, and additional personnel will be sent here, so we are confident in what will happen here,” he said. The BARMM Parliamentary Elections were initially scheduled earlier this year but were postponed due to the lack of time for preparations, as announced by the Commission on Elections in January 2026. Remulla said the historic elections are also an opportunity to demonstrate to the international community that “a Muslim nation can exist in a Christian republic.” Addressing police officers who will be deployed for the BARMM Parliamentary Elections, Remulla issued a stern reminder that they will be held accountable for maintaining peace and order throughout the electoral exercise. “I will hold every police officer here accountable; that if any violence happens in this coming elections, you will be accountable to me and to the Chief PNP. Peace must prevail.”