THE national government’s budget deficit in July may have narrowed, but the gap still widened by more than a fifth in seven months.
Latest data from the Bureau of the Treasury (BTr) showed the budget deficit from January to July this year reached P784.4 billion, higher by 22.04 percent from P642.8 billion in the same period last year.
The Treasury said the cumulative fiscal deficit during the 7-month period is “well within” the P1.561-trillion revised fullyear deficit target.
“While the gap appears sizeable, it remains within the expected trajectory under the fiscal program. However, it signals the need to ensure that spending is productive and growth-enhancing,” John Paolo Rivera, senior research fellow at the Philippine Institute for Development Studies, told BusinessMirror
A budget deficit occurs when government spending exceeds the revenues it collects. A wider budget deficit could mean greater borrowing needs for the government to finance its spending requirements.
Rivera said a key issue is not just the size of the deficit, but the composition of the government’s
spending. “If public expenditures are largely directed toward infrastructure, human capital, and digital transformation, then they serve as investments for long-term growth. If not, it raises concerns on fiscal efficiency,” he said.
Data showed government spending amounted to P3.516 trillion as of end-July, while revenues collected totaled P2.732 trillion. Broken down, revenue collection reached P2.732 trillion as of end-July. This was 4.82 percent higher than the P2.606 trillion posted a year ago.
The Bureau of Internal Revenue (BIR) posted a 12.34-percent yearon-year increase in its tax collec-
tions, generating P1.889 trillion. The Bureau of Customs’ (BOC) collections, meanwhile, marginally grew by 1.51 percent to P544 billion as of end-July from last year’s P535.9 billion. As for non-tax revenue collections, this fell by 24.88 percent to P277 billion as of end-July from P368.8 billion a year ago. Meanwhile, government spending rose by 8.22 percent to P3.516 trillion in January to July, compared with P3.249 trillion recorded in the same period in 2024. Interest payments jumped by 14.10 percent year-on-year to P521 billion as of end-July, while other expenditures grew by 7.26
BSP BRINGS KEY RATES TO ‘GOLDILOCKS’ ZONE
By Cai U. Ordinario @caiordinario
Bangko
Sentral ng Pilipinas (BSP) may have ushered policy rates into the “Goldilocks” zone with its latest action, but the Monetary Board is still open to at least one more rate cut this year.
The BSP Monetary Board announced Thursday that it has reduced the Target Reverse Repurchase (RRP) Rate by 25 basis points to 5 percent. The interest rates on the overnight deposit and lending facilities were adjusted to 4.5 percent and 5.5 percent, respectively.
BSP Governor and MB Chairman Eli M. Remolona Jr. said in a press briefing that the 5-percent interest rate is the “Goldilocks” rate as it is “neither too high nor too low.”
“Based on the latest data, I think this puts us at our sweet spot for both inflation and output. The projected inflation rate over the next year or so is where we want it to be.
HEAVY RAINS MAY DAMPEN HOLIDAYS IN SOME REGIONS
By Bless Aubrey Ogerio @blessogerio
THE Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) has formally issued a La Niña Watch, saying that more than half of the indicators point to the development of a weak or short-lived La Niña condition this year.
Ana Liza Solis, chief of Pagasa’s Climate Monitoring and Prediction Section, said the likelihood of La Niña forming in
the coming months is currently between 53 and 58 percent— higher than the climatological average of about 30 percent for this time of year.
“While it’s not expected to develop into a full-blown La Niña lasting six months or longer, we are seeing conditions that could still bring significant rainfall,” Solis said in a mix of English and Filipino during a media forum on Wednesday. Solis noted that certain areas may experience above-average rain as early as September, in -
By Andrea E. San Juan @andreasanjuan
EXPANDED regional engagements will help the country’s economic zones secure as much as P300 billion worth of investments this year, according to the Philippine Economic Zone Authority (Peza).
“What we’re seeing now is still a healthy, robust pipeline of projects—and with our expanded regional engagements, we expect strong growth momentum in the months ahead,” Peza Director General Tereso O. Panga said in a statement on Thursday. Panga made the pronouncement after Peza announced that it greenlit 179 projects worth P105.83 billion in January to August.
This is 71.54 percent higher than the P61.69 billion the agency approved a year ago.
These projects are expected to generate 40,638 direct jobs, Peza also noted, adding that exports from these investments could amount to $3.38 billion.
“With the volume of interest we are receiving, and the quality of projects in our pipeline, we are confident that the coming months will not just achieve our target for the year but also bring even greater gains for our economy and our people,” Panga said.
In a Viber message sent to the BusinessMirror on Thursday, the Peza chief said the agency is still gunning for as high as P300 billion in investments this year.
“Low target at P235 billion to P250
billion versus high target at P300 billion,” Panga told this newspaper.
In terms of sectors, 82 of the projects are into manufacturing; 46, IT-BPM; 17, domestic; 13, facilities; 12 ecozone development; and 5 logistics and 4 utilities.
As to the source of investments, Cayman Islands led the pack, followed by South Korea, Chinese, American, and Dutch investors.
Per region, 147 of the approved projects are expected to locate in Luzon, 25 in Visayas and 7 in Mindanao.
In the month of August alone, Peza approved 29 new and expansion projects worth P14.872 billion, which represents an 8-percent dip.
Peza said this is because the Board held two meetings in August 2024. “This occurrence is common especially as Peza is mandated to
convene as necessary to ensure that projects move forward without delay.”
In a Viber message sent to this paper recently, Panga said Peza is “aggressively” engaging with the local government units (LGUs) to push for an ecozone program to attract investments into their jurisdictions.
“We see more domestic market oriented projects locating in the ecozones. The biggest come-on is our growing domestic market and increasing purchasing power with our growing middle class.”
Peza revealed recently that 10 LGUs manifested their intent to establish an ecozone in their respective areas for the first time. (See: https://businessmirror.com. ph/2025/08/26/ecozones-newboon-for-lgus-says-peza/)
cluding the Cordillera Administrative Region, parts of Region 2, portions of Central Luzon, and some provinces in Mimaropa.
By October through December, heavier rainfall is likely to shift toward Metro Manila, Calabarzon, Mimaropa, Bicol, Eastern and Central Visayas, parts of Davao Region, Zamboanga Peninsula, Caraga, and Bangsamoro.
These conditions may heighten the risk of floods and landslides in vulnerable locations.
The agency also pointed to potential tropical cyclone activity within or near the Philippine Area of Responsibility, noting that even weak La Niña conditions can elevate sea surface temperatures.
This can create a more favorable environment for moisture-laden weather systems, including lowpressure areas, intertropical convergence zones, and shear lines.
Historically, weak La Niña years have coincided with heavy rainfall, often in the form of tropical stormor typhoon-level precipitation.
The state weather bureau urged local governments and communities in flood-prone areas, near rivers, or in other vulnerable zones to prepare for possible flooding.
“We provide regular updates to help our Disaster Risk Reduction offices and residents stay informed. Existing measures are in place, but vigilance is key,” she said.
Even if La Niña does not fully materialize, Solis said the last quarter of the year typically brings heavier rainfall and a higher likelihood of storms making landfall.
Hike investments in human capital, groups tell Congress
By Justine Xyrah Garcia
CIVIL society organizations (CSOs) pressed lawmakers on Thursday to channel more resources into human capital development, warning that failure to invest in research, education, and healthcare would leave Filipinos unprepared for future challenges.
During the People’s Budget Review led by the House CSO Task Force, Jesse M. Robredo Institute of Good Governance Director Francisco Magno underscored the importance of boosting the Department of Science and Technology’s (DOST) funding for research.
“Issues such as climate resilience, public health, education equity, food security, and digital inclusion require robust evidence-based solutions. By empowering research universities to study these pressing challenges, government gains access to innovations and policy recommendations that can guide smarter, future-proof invest-
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Administrative Order No. 25-11 issued by DTI read. Imports originating from developing countries
ments,” Magno said.
For 2026, the DOST is slated to receive P30.4 billion, a slight increase from its P28.77 billion budget in 2025.
Of this, P3.9 billion will support its research and development institutes, covering industrial manufacturing, mineral processing, and energy (P246 million); textiles (P203 million); advanced fields such as microelectronics and information technology (P193 million); wood and non-wood products (P116 million); metal casting, metalworking, and surface engineering (P110 million); and food and nutrition (P93 million).
Multiply-Ed Philippines’ John Lloyd Elsisura likewise pushed the 20th Congress to rethink allocations for the education sector, which is set to receive P1.224 trillion next year.
Elsisura said that instead of funneling government resources to confidential funds and failed flood control projects, it would be more urgent to address the “severe shortage of class -
listed in Annex A of the DAO issued by DTI will not be subject to the provisional safeguard measure.
It is worth noting that the countries mentioned by Teves are not included in the list of exempted countries, which means that Japan, Vietnam and Australia are subjected to the said cash bond for 200 days.
rooms, teachers, textbooks, and digital tools.”
“Ang P4.56-bilyong confidential fund ng Office of the President ay pwede po sanang makapagtatayo ng 2,280 na mga classrooms, lalo na sa ating mga indigenous at geographically isolated communities kung saan pinakamalubha ang kakulangan,” he added.
On health, Democracy Watch Philippines Convenor Lloyd Zaragoza said government must do more to improve hospital facilities nationwide.
“Many provinces still rely on overcrowded hospitals. By building and upgrading hospitals and specialty centers, especially outside Metro Manila, we make quality healthcare accessible to all Filipinos,” he said.
Mark Daniel Alcazar of the Center for Youth Advocacy and Networking also pointed out gaps in the Department of Health’s
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stagnant at 4.1 metric tons (MT) per hectare, while farmers’ incomes remained low.
The agency proposed that such integration of RCEF and NRP should be dubbed National Staple Development Program. Under this program, there would be integrated support for seeds, fertilizers, mechanization, and post-harvest. It also aims to reduce postharvest losses by as much as 20 percent.
Such an initiative is among the DA’s proposals to strengthen the country’s rice industry, which is currently grappling with the slide in farmgate prices of palay. This includes rebuilding the national extension support system.
2026 budget, which does not earmark funds for mental health and adolescent health programs.
“Kung future ready generation ang ating layunin, dapat future ready rin yung ating budget at lalo na ang ating proseso,” Alcazar said.
The DOH is expected to receive P320.5 billion next year, with P99.5 billion allocated for the operations of its regional hospitals.
The CSO Task Force said an open forum will be held in the coming weeks to tackle the issues raised by civil groups.
As of August 24, six organizations have been accredited to participate in the 2026 budget deliberations—Federation of Free Farmers Cooperatives, SafeTravelPH Mobility Innovations Organization, Makati Business Club, Alyansa ng Nagkakaisang Mamamayan, Center for People Empowerment in Governance, and WeSolve Foundation.
Currently, agricultural extension has been devolved to local government units (LGUs) under the Local Government Code of 1991, which severed the DA’s direct ties with agriculturists.
Furthermore, the agency called on lawmakers to include the private sector’s involvement in succeeding legislation through fiscal and non-fiscal incentives.
“Nowhere in the law—the RTL or its succeeding amendment—was the value chain given any attention,” the senior agriculture official said. “It was either the farmer or the consumer, forgetting that the rice will not reach the consumers without an effective and efficient value chain.”
The DA said such interventions would help safeguard the livelihood of 3.4 million farmers and farm workers, secure the P554-billion rice value chain from collapse, and ensure the affordability of rice.
ment would have to borrow money to finance its expenditures.
percent to P2.995 trillion from last year.
July gap FOR the month of July alone, the government’s budget deficit narrowed by 34.42 percent to P18.9 billion, from last year’s P28.8 billion.
Total revenues inched up by 3.26 percent to P472.3 billion in July, driven by higher tax collections from the BIR and BOC.
The BIR generated P335.3 billion, on the back of higher collections of corporate income taxes, personal income taxes, levies on government securities, excise taxes on tobacco, percentage taxes on banks and documentary stamp taxes.
The BOC also posted gains, collecting P85.2 billion, lifted by yearon-year increases in value-added taxes and excise taxes.
Meanwhile, the government spent P491.2 billion in July, 1.02 percent higher than the P486.2 billion posted in the same month last year.
Lower costs
LEFT with a budget hole, the govern-
With the Bangko Sentral ng Pilipinas (BSP) reducing the key policy rate by 25 basis points to 5 percent on Thursday, Rivera said this would make it relatively cheaper for the government to borrow through the issuance of government securities.
“Lower interest rates help reduce the debt service burden and create more fiscal space,” he said.
“However, the actual benefit depends on how market participants price in future rate cuts and macro risks, including PHP volatility and external shocks,” he added.
The government will borrow P2.6 trillion from the local and foreign debt markets this year, based on budget documents.
To support the government’s fiscal health, Rivera said tax administration must be improved instead of imposing new taxes to plug leakages.
The government should also review its spending priorities to ensure efficiency, as well as accelerate privatization and public-private partnerships to ease fiscal pressure, Rivera added.
“With inflation slowing and growth needing support, fiscal policy must remain balanced, not contractionary, but also not reckless. The key is smart spending,” Rivera said.
Output is moving to where we think our capacity is. The policy rate itself is at our goldilocks rate, neither too high nor too low,” he said.
Nonetheless, Remolona said, a policy rate cut could still be in order in the coming meetings, depending on how the economy performs, particularly in terms of domestic demand. It can be noted that domestic demand accounts for 70 percent of the country’s growth.
The Monetary Board still has two more meetings this year—in October and December. Remolona had said two rates cuts may be implemented in the second half of 2025. The BSP noted that risks, such as the impact of US policies on global trade and investment, could temper the outlook for the Philippine economy.
Further, possible electricity rate adjustments and higher rice tariffs could still raise inflationary pressures over the policy horizon.
“I think there is space for one more cut. If the data develops the way we think it develops then maybe one more cut this year,” Remolona said. “I think that’s [end of the easing cycle] the likely….that’s a likely evolution of the policy rate. Of course, if something bad happens to output that suggests there’s a lack of demand, then we cut some more,” he added.
‘Sweet spot’ REMOLONA said the current rate brings the Philippines to a “sweet spot” in terms of inflation and GDP growth. The BSP expects inflation to average 1.7 percent this year; 3.3 percent in 2026; and 3.4 percent in 2027.
BSP Deputy Governor for the Monetary and Economics Sector Zeno Ronald R. Abenoja said the government’s growth target of 5.5 percent to 6 percent for this year remains achievable with lower policy rates. Abenoja also the recent policy rate cuts are also expected to contribute to medium-term economic growth. The Development Budget Coordination Committee (DBCC) projected this to be at 6 percent to 7 percent between 2026 and 2028, when the President steps down from office.
“Given the cumulative policy rate cuts that we have had since August, we think that the NG [national government] numbers, target numbers, could be feasible this year. That is about 5.5 percent. We think we could be there,” Abenoja said.
“The impact, further impact of those policy actions could also be felt moving forward. There could be improvement moving forward, such that by the end of, let’s say, two years from now, we still think that it will be consistent with what the government is targeting,” he added. The latest reduction in policy rate on Thursday is the third policy rate cut for the year. This brought the total reduction in interest rates this year is 75 basis points.
Capital Economics said the latest decision of the Monetary Board was “no surprise” as they expected a 25-basis point reduction in key policy rates. With this decision, policy rates have been reduced by 150 basis points since the BSP entered its easing cycle.
“The economy could certainly do with more support. Although GDP growth held up relatively well in the first half of the year, the economy looks set to slow. Low inflation and falling interest rates will provide some support to demand this year,” Capital Economics Senior Asia Economist Gareth Leather said.
Leather said the country’s economic performance is expected to “struggle” given tighter fiscal policy and the weakening of exports. Nonetheless, the low inflation environment is expected to persist and support growth moving forward. He noted that headline inflation slowed to 0.9 percent in July which was the lowest since November 2019. This was driven by cheaper food and transportation costs.
The economist agreed with the BSP that inflation expectations remained well anchored and is expected to come within its target range of 2 percent to 4 percent next year.
Navies of Exercise Alon participants conduct exercise off Bajo de Masinloc
WARSHIPS from the Philippines, Australia and Canada on Wednesday successfully conducted a multilateral maritime exercise east of Bajo de Masinloc in the West Philippine Sea.
In a statement, the Armed Forces (AFP) said the Navy’s (PN) guided missile frigate BRP Jose Rizal (FF-150), Australian guided missile destroyer HMAS Brisbane (DDG-41), and Canadian guided missile frigate HMCS Ville de Québec (FFH332) departed from El Nido, Palawan, and proceeded “northward” for the drill that was part of this year’s Amphibious Land Operation (Alon) exercises.
The AFP did not provide specific
details on when the ships departed from Palawan and their itinerary for security reasons.
It said, however, that the activity featured two components, including air defense exercise that honed the participants’ capability to counter simulated aerial threats through coordinated defensive measures.
Another component was a photo exercise that showcased precision formation sailing and multinational naval professionalism.
Taiwan’s top envoy makes rare Philippine visit as ties ramp up
By Yian Lee & Cliff Venzon Bloomberg
TAIWAN’s top diplomat made a rare, unofficial visit to the Philippines on Thursday as the two sides quietly expand ties in the face of growing tensions with China.
Minister of Foreign Affairs
Lin Chia-lung is leading a delegation of Taiwanese and American entrepreneurs to Manila and other cities, according an official familiar with the matter, who asked not to be identified because the matter is sensitive. Also present are representatives from semiconductor and electrical manufacturing associations.
The low-key trip marks what appears to be only the second known visit from a Taiwanese foreign minister since Manila and Beijing established diplomatic ties in 1975. Then-minister Chang Hsiao-yen once vacationed in the Philippines back in 1997. China consistently protests trips abroad by Taiwanese politicians—official or not—and accuses host nations of undermining Beijing’s interests.
Hsiao Kuang-wei, the spokesperson for Taiwan’s Ministry of Foreign Affairs, declined to confirm whether Lin was in the Philippines when asked about the trip on Thursday, but said the delegation is seeking opportunities to develop an economic corridor and will meet with representatives from local industries and business associations.
Lin is expected to press for deeper cooperation during the trip, according to another senior official familiar with the trip. Taiwan sees northern Luzon, about 200 miles south of the island, as a strategic opportunity to work with Manila in a mari -
time choke point vital for trade and military activity.
Companies including Foxconn and Pegatron have expressed interest in investing in the Philippines, while Taipei is also pursuing cooperation in agriculture and labor, with a focus on vocational training, said the official, who also spoke anonymously because the matter is sensitive.
While formal diplomatic ties between Taiwan and the Philippines are limited, they have been quietly deepening security cooperation for months now, including combined coast guard patrols in the Bashi Channel and information sharing—all despite Manila officially adhering to a “One China” policy.
Earlier this year, Philippine President Marcos issued a memorandum easing decades-old restrictions on official exchanges with Taiwan, while Taipei announced a one-year extension of visa-free entry for Filipino passport holders.
China accused Marcos earlier this month of “playing with fire” after he said the Southeast Asian nation would be drawn into any conflict between China and the US over Taiwan. “There is no way that the Philippines can stay out of it” he said during a state visit to India.
Tensions between Beijing and Manila are already high over a long-running South China Sea dispute, where Chinese and Philippine ships frequently clash over fishing grounds and resupply missions to contested reefs. Earlier this month, two Chinese vessels collided after one of them chased a Philippine ship near Scarborough Shoal.
Speaking at a Senate inquiry on Thursday, Foreign Affairs Secretary Ma. Theresa Lazaro said Manila’s long-standing One China policy has not changed. “We do not recognize Taiwan as a sovereign state,” she said. “We leave it to the Chinese people to resolve cross-straits matters.”
In response to a senator’s question on Wednesday over whether Lin was in the Philippines, Lazaro said it’s a business delegation headed by the executive vice president of the US-Taiwan Business Council.
“This is how we respond to it because this is the information given to us.”
“As a key component of Exercise Alon 2025, this engagement reaffirms the AFP’s commitment to advance defense cooperation with like-minded nations,” the statement said.
More than 3,600 troops from the Philippines, Australia, the United States, and Canada are taking part in Exercise Alon 2025 that was held at the joint operational area of the AFP’s Northern Luzon Command and Western Command from August 15 to 29.
Live fire
THE AFP and Australian Defence Force (ADF) on Thursday conducted live fire drills on Thursday at Fort Magsaysay, Nueva Ecija. as part of the ongoing Exercise Amphibious Land Operation (Alon) 2025.
The Army (PA) used a self-propelled Atmos 155mm battery while the Australian Army showed the
capabilities of its M777A2 155mm howitzers, Australian Light Armored Vehicle, Javelin Anti-Tank Missile Launchers, MK47 Grenade Launchers, M2 QCB Machine Guns, Blazer 2 Sniper Rifles, AW50F Anti-Material Rifles and Mag58 General Purpose Machine Guns.
During the same live fire exercise, the Air Force (PAF) and the Royal Australian Air Force used fixed and rotary-wing assets to provide simulated close air support to the forces on the ground during the drills.
More than 3,600 troops from the Philippines, Australia, the United States, and Canada are participating in the exercises that started last August 15 and are being conducted in the joint operational area of the Armed Forces of the Philippines’ Northern Luzon Command and Western Command.
Of the said participants, around 700 are military personnel from the PA, which includes 300 soldiers from the 84th Infantry Battalion.
Over the weekend, Filipino, Australian and Canadian forces simulated retaking territory captured by an unnamed enemy country in the town of San Vicente in Palawan.
The Exercise ALON 2025 is the largest drill to be participated by Australian forces outside their country, according to Australian Deputy Prime Minister and Minister for Defence Richard Marles
The Philippines and Australia are expected to sign a defense cooperation agreement next year, which will also include the establishment of facilities for joint exercises between the defense forces of two countries.
Rex Anthony Naval with PNA
Puno seeks probe into ‘funders’ of ghost flood control projects
DEPUTY Speaker Ronaldo V. Puno filed a resolution in the House of Representatives on Wednesday calling for an investigation in aid of legislation into the “funders” or sponsors of anomalous and fictitious construction projects in the 2025 national budget, as well as the role of the Department of Budget and Management (DBM) in the release and withholding of funds.
In House Resolution 201 filed on August 27, Puno said: “Credible reports and legislative inquiries by the Senate Committee on Accountability of Public Officers [Blue-ribbon] have revealed irregularities in public works projects funded in recent budgets, including ‘ghost’ or non-existent projects and signs of collusion among contractors.”
Puno highlighted Sen. Panfilo Lacson’s privileged speech, which “exposed systemic and institutionalized patterns of impunity in the allocation and release of funds for flood control projects, including the coded ‘distinct’ but identical allocations of seventy seven million, forty eight million, and ninety six million pesos for multiple projects, overinflated costs in Pampanga and La Union, and even the ghost projects in Mindoro and Bulacan, revealing not isolated anomalies but a deeply rooted machinery siphoning off public funds while leaving vulnerable communities unprotected.”
In the resolution, Puno further emphasized that the DBM itself had confirmed, during recent budget hearings, that “cer -
tain funds, particularly those stemming from congressional insertions in the 2025 General Appropriations Act, were intentionally withheld for later release and would only be disbursed upon compliance with specific conditions, effectively confirming that while some funds were released, others were not.”
Puno warned that this dual reality of “some funds released, others withheld” heightens the need for transparency: “When billions are moved in and out of the budget without clarity, accountability collapses and public trust erodes. Ghost projects and coded allocations are not the technical glitches they seem, rather these are clear red flags of corruption that demand immediate scrutiny.”
‘Transfer funds for non-essential flood control projects to education, healthcare’
PBy Butch Fernandez @butchfBM
ROJECTS not deemed necessary but are included in the proposed P243billion flood control budget for 2026 should be dropped and the funds redirected to more urgent priorities such as education and healthcare, a senator said.
“If we really concentrate and put the money where the important programs are, ano ba talaga ang dapat pagkagastusan natin nang tama [what is it that we should properly spend for]?” the senator asked.
“The P243 billion in the 2026 budget for flood control, I’m guessing mababawasan [can still be reduced]. That will be slashed significantly. I’m hoping some of that will go to education and maybe some of that will go to healthcare,” Sen. Paolo Benigno Aquino added.
Aquino stressed that free education and healthcare must be prioritized, noting these are basic needs that should be adequately funded for the Filipino people’s welfare.
“If we’re able to cut where we’re supposed to cut and allocate where we’re supposed to
allocate, we can attain that goal. It does not become as impossible as it may seem,” he said, speaking partly in Filipino.
With adequate funding, education issues such as the 166,000-classroom backlog and the lack of school equipment could be addressed sooner than expected, while universal healthcare could be made accessible to all Filipinos, he added.
“Five million children have no chairs. Close to 25 percent of our schoolchildren aren’t even sitting in seats. 166,000 classrooms are lacking. These are all immediate and mediumterm because we cannot do that tomorrow. If we get the funding now, maybe in a year or two years, that can be resolved,” he also said.
During his interpellation on the privileged speech of Sen. JV Ejercito, principal sponsor of the Universal Healthcare Act, Aquino sought to determine the budget needed for the law’s full implementation, ensuring that Filipinos would no longer have to pay out of pocket for their medical needs.
“How much do we really need to achieve the goal of universal
Children of former Moro rebel fighters get ₧23 million windfall from Opapru
By Manuel T. Cayon @awimailbox
DAVAO CITY—The Office of the Presidential Adviser on Peace, Reconciliation, and Unity (Opapru) turned over P23 million to the Mindanao State University system for the education support of the children of former Moro rebels. Some 6,000 students are expected to benefit from the windfall.
The announcement came one month after the Moro Islamic Liberation Front said the government did not comply fully with its financial commitment to its armed fighters who were decommissioned.
The decommissioned fighters turned in their firearms and other field weapons.
MILF Chairman Ahod Balawag Ebrahim, also known as Chairman Murad, earlier this month ordered all MILF field commanders to refrain from cooperating with the government’s normalization activities.
The Bangsamoro Information Office reported that some 900 students received their money checks on August 6 in the most recent distribution of financial aid in Cotabato City. The beneficiaries must come from the families of decommissioned MILF combatants under the peace process’s normalization track.
The educational support from government was coursed through the partnership with the Mindanao State University (MSU) which has a main campus in Marawi City and maintains a string of other campuses in the two Maguindanao provinces, Misamis Oriental and TawiTawi.
The education support to the ex-combatants’ children would be undertaken until they complete their bachelor’s degrees.
healthcare. If that number isn’t too clear, then our goal is also vague,” he said.
Aquino filed Senate Resolution 28 urging the appropriate Senate committees to review how the Department of Public Works and Highways (DPWH) and other implementing agencies have spent the P360 billion flood control budget under the 2025 General Appropriations Act.
He noted that despite the P1.47 trillion allocated for flood control from 2009 to 2024, the country still suffers from poor drainage systems, ineffective flood measures, outdated pumping stations, and a lack of community-based flood risk management.
As a means to address the classroom backlog, Aquino filed Senate Bill 121, or the Classroom-Building Acceleration Program (CAP) Act, which seeks to authorize capable local government units (LGUs) and private sector entities to build classrooms in compliance with national standards and guidelines within their jurisdictions, with funding support from the national government.
Secretary Carlito Galvez Jr., Opapru chief, said the initiative was key to improving the quality of life of the ex-combatants and their families. “We are scaling up our scholarship grants because we are targeting 40,000 families.”
The Opapru said more than P23 million was transferred to the MSU system to cover the educational assistance for the children of ex-rebels. The Opapru said it will provide educational assistance to 6,000 students in 2026.
The Bangsamoro report quoted one Samsudin Saptula, a third-year college student and a child of a decommissioned combatant, that the intervention was the “fruit” of the combatants’ sacrifices. “This educational assistance is not just a gift, but an investment in my future and that of my family,” he added.
Bangsamoro region Chief Minister Abdulraof Macacua said the children of the former government foes are the “symbol of victory” of the peace in the region.
“We are no longer holding weapons; we are choosing the path to peace, laying the foundation for children to learn, grow, and succeed. Today, we are not simply handing over checks, we are handing over grants, the beginning of peace,” he added.
Economy PSA reports hike in milk production
TBy Ada Pelonia @adapelonia
HE country’s milk output grew by over 11 percent to 18.16 million liters in the second quarter, driven by the increase in dairy herd.
Data from the Philippine Statistics Authority (PSA) showed that national milk production rose by 11.4 percent in April to June from the 16.30 million liters recorded in the same period last year.
Dairy cattle remained the leading source of milk, accounting for over half or 60.4 percent of total output to 10.98 million liters. This was followed by carabao’s milk with 2.64 million liters or 14.5 percent of the output and dairy goats with 2.14 million liters or 11.8 percent.
Of the total output, the National Dairy Authority (NDA) said 14.72 million liters came from its assisted and monitored areas, reflecting an 11.9 percent increase
year-on-year.
The remaining 3.44 million liters were produced outside the agency’s oversight but captured by PSA in its livestock and poultry surveys, the NDA added.
Meanwhile, PSA data indicated that the country’s dairy herd also jumped by 16.4 percent to 166,411 heads as of June 2025 from 154,252 heads last year. This included 37,369 dairy cattle, 89,907 carabaos, and 39,035 goats.
NDA Administrator Marcus Antonius Andaya said the uptrend in milk output and dairy herd was proof of dairy farmers’ resilience and the agency’s sustained support programs.
“The steady growth in both milk output and dairy herd shows that our current programs are bearing fruit,” Andaya said in a statement.
“By expanding the herd and improving productivity at the farm level, we are creating more opportunities for our dairy farmers and increasing the availability of fresh, local milk for Filipino families.” He noted that the agency has established five stocks farms General Tinio, Nueva Ecija; Ubay, Bohol; Prosperidad, Agusan del Sur; Malaybalay, Bukidnon; and Carmen, Cotabato, while three more were in the pipeline.
“We are confident that these facilities will further accelerate the increase in both herd population and local milk output in the years ahead,” Andaya said.
As of mid-2025, the NDA said its programs span 70 provinces, 463 towns, and 1,307 dairy entities, supporting 2,355 assisted and monitored farmers nationwide. With production and herd numbers on an upward trend, the NDA said the Philippines is on track to meet its long-term dairy development goals and ensure a steady supply of locally produced milk for Filipino households.
NFA sets auction of 60K MT of rice
THE National Food Authority (NFA) is gearing up to auction off up to 60,000 metric tons (MT) of aging rice stocks next month. The process could last until October.
Agriculture Secretary Francisco Tiu Laurel Jr. said the selling of the stocks would not only prevent waste but also free up warehouses and support rice supply amid the import ban.
“We’re essentially hitting three birds with one stone: avoiding supply shortfalls, clearing space so NFA can buy more palay from local farmers, and preventing spoilage of aging rice,” Laurel said.
For his part, NFA Administrator Larry Lacson said government
relief agencies will have the first opportunity to purchase the rice stock in September, before the auction is opened to the public.
Furthermore, the auction will feature a graduated pricing scheme, with floor prices ranging from P27.96 to P25.01 per kilo, depending on how long the rice has been stored.
The grains agency can only auction off two-month-old rice or older. NFA rice stocks are considered aging starting from the third month after milling.
Currently, the grains agency’s buffer stock stands at 450,000 MT, which is enough to meet 12 days of national demand in case of emergencies.
The DA noted that the upcom -
ing auction represents roughly 1.2 million bags of rice or about 13 percent of the total buffer. Meanwhile, acting NFA department manager Roy Untiveros clarified that the earlier plan to auction off palay was scrapped due to low market prices. With harvest season approaching, the NFA said it aims to strike a balance between market stability, warehouse efficiency, and farmer support.
President Marcos earlier ordered a temporary ban on foreign shipments of the staple grain for 60 days as part of the government’s efforts to prop up farmgate prices of palay, which dropped to as low as P8 per kilo in some areas. Ada Pelonia
Scholarship budget use reaches 57%–DOST
By Bless Aubrey Ogerio
THE government’s science scholarship program has managed to disburse more than half of its budget by midyear despite concerns over delayed stipends, with officials banking on a new direct payment scheme to accelerate releases in the coming months.
The Science Education Institute (SEI) reported during the House of Representatives’ budget deliberations on Wednesday the 57 percent utilization rate of its scholarship funds as of July 2025.
Last year, the program closed with a 92 percent rate. “We’re progressing, we’re expecting to utilize all the funds by the end of the year,” SEI director Jayeel Cornelio said.
For her part, Party-list Rep. Renee Louise Co of Kabataan flagged persistent delays in the release of stipends, citing student complaints and the risk of bureaucratic bottlenecks.
“This has been a recurring concern every month… Is 2 percent sufficient to expand the quality?” she asked in Filipino, pointing out that the allocation for scholarships only rose by less than 2 percent to P136.2 million in 2024.
In response, Cornelio acknowledged the magnitude of the program, with more than 55,000 scholars from undergraduate to doctoral levels. For 2025 alone, 10,907 incoming undergraduates qualified out of nearly 95,000 examinees.
“We continue to aim to expand our coverage,” he said, stressing that the issue lay less in funds than in streamlining disbursement.
To address delays, the agency has shifted from routing stipends through regional offices and universities to direct transfers into scholars’ bank accounts.
Per Cornelio, the system was pilot-tested in Metro Manila earlier this year, covering about 9,000 scholars. Only 69 of them, or less than one percent, experienced delays, which he said were largely due to late submission of requirements.
New system
STARTING August, the new system will be implemented nationwide for undergraduates and extended to graduate students by January 2025. “The system is working, and we have evidence to prove it,” Cornelio said.
Co pressed whether this new
system merely added another bureaucratic step, since universitybased “core groups” had previously been tasked to consolidate stipend documents.
Science Secretary Renato Solidum clarified that while coordinators remain in place, their role is limited to ensuring students submit requirements. “The fastest route is direct payment. The core groups should just ensure students submit their documents,” he said in Filipino.
The Commission on Audit (COA) has previously warned of systemic inefficiencies in the scholarship program. In its 2023 annual report, state auditors flagged delays in fund releases and documentation, with only a fraction of the amounts transferred to universities fully accounted for.
COA also noted that billions in transfers remain unliquidated from the past three years, underscoring the gap between reported spending and actual documentation.
According to Cornelio, the agency has already convened scholarship coordinators nationwide
‘Govt should require technology transfer in auto perks program’
By Andrea San Juan @andreasanjuan
THE government should insert a technology transfer requirement in its auto incentives program to secure the operations and jobs of Filipino manufacturers of foreign auto brands setting up shop in the country.
During the hearing for the Department of Trade and Industry’s (DTI) 2026 budget at the House of Representatives’ Committee on Appropriations, House Deputy Minority Leader Antonio L. Tinio called on the government to insert technology transfer requirement in the incentives program for car manufacturers to ensure long-term benefits for Filipinos working in the car manufacturing sector.
“Meron po bang technology transfer requirement para sa mga nakikinabang sa CARS program? Ibig sabihin, iyong teknolohiya, iyong kapital, iyong IP [intellectual property], etc., meron po bang ganoong requirement?” Tinio, the nominee of the partylist group ACT Teachers, asked the DTI during the agency’s budget hearing.
Comparing the Philippines with its neighboring countries, the lawmaker said: “Kasi sa ibang mga bansa, for example, India, Indonesia, Malaysia, etc., inii-nvite nila iyong mga foreign manufacturers like that, pero ang requirement, magtayo kayo ng planta, pero at some point dapat magiging pag-aari ng mga Filipino iyan and we can then use that for our own.” Tinio stressed the vulnerability in the current approach, citing Ford as an example: “What if Toyota then decides, mas maganda ang incentive sa Thailand? Mas malaki ang ino-offer, sabihin alis na kami...Nangyari na iyan sa Ford, hindi ba? They moved to Thailand. Are we still able to produce ng mga Ford cars? Obviously, we’re not.”
The lawmaker underscored the importance of safeguarding the future of Filipinos working in the manufacturing sector by putting in place the technology transfer requirement in the incentives framework. He added that the government should go beyond merely providing perks for current and would-be international car manufacturers who wish to set up shop in the country.
“Ang punto, walang requirement na ganun. Babayaran namin kayo mag-tayo kayo ng planta rito, pero walang requirement na kung ano man itayo niyo rito at iyong teknolohiya na dadalhin dito, eventually magiging atin, para may kakayahan tayo on our own na mag-produce,” Tinio added. The lawmaker said it is by having this requirement that the Philippines’ neighboring countries have been able to build and grow their manufacturing sectors.
Meanwhile, in the Philippines, he said: “Sa atin, sige magtayo kayo dito pero the moment na mag -decide to pull out, wala na, kagaya nang nangyari sa Ford.”
Tinio was referring to the Comprehensive Automotive Resurgence Strategy (CARS) Program, an incentives program which was crafted in 2015 with the goal of boosting the manufacturing capability of the overall automotive industry, spur the growth of small and medium enterprises (SMEs) and create more jobs.
See “Auto,” A17
DOST. . .
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to standardize the submission of enrollment certificates and grades, ensuring uniform compliance with auditing requirements.
Game changers
WHEN asked by Cagayan de Oro Rep. Rufus Rodriguez, vice chairman of the House Committee on Science and Technology, Solidum highlighted five priority initiatives to supplement the scholarship program.
These include: the P627 million for department-wide computerization improvements; P372 million to support local governments under the Smart and Sustainable Communities program; P413 million to raise stipends for Philippine Science High School scholars, which have not been increased in 10 years.
Moreover, P200 million will also be allotted for the artificial intelligence research and development program aimed at democratizing access in the regions; and P200 million for the technology transfer program to help export local innovations.
Rodriguez encouraged submission of detailed proposals and signaled support, saying they would push not only for budget approval but also for possible augmentations to help DOST reach “higher ground.”
www.businessmirror.com.ph
Senior legislator seeks abolition of travel tax
ASENIOR lawmaker has called on the Congress to abolish the decades-old travel tax imposed on departing Filipino passengers, describing it as “outdated, inequitable, and a burden on ordinary Filipinos.”
In a privileged speech, Cagayan de Oro Rep. Rufus Rodriguez said the travel tax, first imposed through Presidential Decree 1183 in 1977, no longer serves its original purpose of conserving foreign reserves and funding tourism infrastructure.
“At present, every Filipino departing the country by air is required to pay this tax, unless exempted by law. For families traveling abroad, it becomes an even heavier financial burden,” he said.
Rodriguez stressed that the tax disproportionately affects workers, students, retirees, and families traveling in economy class, while wealthier passengers in business and first class are not as burdened.
“This is a tax that is not only outdated but also inequitable. The Constitution itself recognizes the right of Filipinos to travel. Why then do we penalize them simply for exercising that right?” he said.
The Department of Finance earlier estimated that abolishing the travel tax would cost the government about P5.1 billion in foregone revenues in 2023. However, Rodriguez argued that the economic gains from increased outbound travel—such as growth in airlines, airport services, travel agencies, and logistics—would outweigh the loss.
He also cited the Philippines’ commitments under the Association of Southeast Asian Nations (Asean) Tourism Agreement of 2002, which urged member states to remove barriers to regional travel. Among Asean nations, only the Philippines and Cambodia continue to impose a travel tax.
Section 73 of RA 9593, or the Tourism Act of 2009, provides that 50 percent of
the proceeds from the travel tax collection go to the Tourism Infrastructure and Enterprise Zone Authority (Tieza), while 40 percent of the proceeds go to the Commission on Higher Education for tourism-related education programs. The remaining 10 percent goes to the National Commission for Culture and the Arts.
Rodriguez said these allocations could instead be included in the General Appropriations Act.
He urged the Congress to pass a measure abolishing the travel tax for economy-class passengers while retaining it at higher rates for business and firstclass travelers—P3,000 and P5,000, respectively.
“Let us be the Congress that removes this outdated burden and replaces it with a policy more suited to our times. A Congress that does not stand in the way of its people’s dreams but instead opens the doors to opportunity,” he said.
Jovee Marie N. dela Cruz
More local govts comply with garbage disposal law
TBy Jonathan L. Mayuga @jonlmayuga
HE Department of Environment and Natural Resources (DENR) on Thursday reported significant progress in solid waste management during the first three years of the Marcos administration, citing the increased number of local governments (LGU) with approved 10-year solid waste management (SWM) plans.
LGUs are mandated by Republic Act 9003, or the Ecological Solid Waste Management Act of 2000, to develop a 10-year plan for managing their garbage, which requires proper waste characterization and identification of how to dispose of them in engineered sanitary landfills properly.
From July 2022 to June 2025, a total of 328 LGUs had their 10-year SWM plans approved, while 41 LGUs had their plans renewed, data from the DENR-Environment Management Bureau (EMB) indicate.
This brings the total number of cities and towns with approved and implemented SWM plans to 89 percent (1,416 out of 1,592 LGUs), advancing the Philippine Development Plan’s objective of improving waste management at the local level.
“These plans serve as the foundation for maximizing resource recovery and reducing dependence on landfill disposal,” DENR Secretary Raphael PM Lotilla said.
The plans also include strategies for waste collection efficiency, equipment maintenance, and operation of solid waste management facilities, he added.
“Proper implementation of these plans involves segregation at source, waste diversion, and the establishment of local disposal facilities to prevent pollution, especially marine litter,” Lotilla said.
Recognizing that improper solid waste disposal contributes to flooding and environmental degradation, President Marcos has called on local chief executives to intensify the implementation of environmentally sound waste
management practices and waste reduction measures to protect public health and the environment.
Mandated under Republic Act 9003, or the Ecological Solid Waste Management Act of 2000, the 10-year SWM plan requires LGUs to outline programs for reuse, recycling, composting, and the efficient management of waste within their jurisdiction.
In addition, LGUs are expected to conduct public information campaigns, establish materials recovery facilities (MRFs) and sanitary landfills (SLFs), and partner with organizations to enhance recycling and waste processing efforts.
The number of operational MRFs increased from 11,779 in 2022 (serving 17,636 barangays) to 12,864 in 2025, now serving 19,464 barangays—or 49.3% of all barangays nationwide.
Meanwhile, the number of operational SLFs grew from 287 (serving 567 LGUs) to 343, currently servicing 748 LGUs, or 49 percent of the country’s 1,515 cities and towns.
Anti-mining groups hits miners’ support for leader with questionable citizenship
ANTI-MINING advocates under the Alyansa Tigil Mina (ATM) coaliton slammed the Chamber of Mines of the Philippines (COMP) and the Philippine Nickel Industry Association (PNIA) on Thursday for rushing in to support the Chairman of Global Ferronickel Holdings Inc. (FNI), Joseph Sy, who was recently arrested for allegedly misrepresenting himself as a Filipino.
“We condemn COMP and PNIA for their statements of support for Sy. Instead of allowing the justice system to determine the culpability of Sy, these two mining organizations virtually dismissed serious allegations about Sy’s citizenship and disregarded the laws of the land,” Jaybee Garganera, ATM national coordinator said in a statement.
Both COMP and PNIA issued statements calling for on the Bureau of Immigration (BI) to release Sy from custody, citing the BI’s own claim establishing Sy’s citizenship as a Filipino. Sy was arrested on August 21
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The total fiscal support for the program was P27 billion, with each enrolled car model qualified to a fiscal support in an amount not exceeding P9 billion.
During the budget hearing, Board of Investments (BOI) Executive Fe L. del Rosario, emphasized that one benefit of the CARS program is “We do not import anymore those that will be produced locally, and that’s 200,000 [units].”
at the Ninoy Aquino International Airport (Naia) for allegedly using a Philippine passport and other local identity cards when he was allegedly a Chinese citizen.
News reports said that Immigration Commissioner Joel Anthony Viado has stated that Sy was the subject of an investigation based on intelligence reports suggesting he had illegally acquired citizenship documents.
A BI Certification stated that the fingerprints of Joseph Sy in his Philippine Passport application and the Alien Certificate of Registration Identity Card of Chen, Zhong Zhen is verified as one and the same person.
“We agree with Sen. Risa Hontiveros that this is potentially an Alice Guo 2.0. This has serious implications in our natural resources management as it may involve Chinese manipulation and abuse of mining here in our country,” Garganera said.
FNI’s website states that FNI’s subsidiaries include Platinum Group Metals Corporation (PGMC),
With this, del Rosario explained that it’s not just Toyota and Mitsubishi, the two participating car models in the auto incentives program, that benefited and continue to benefit from the program.
“Second, the incentives is for them to expand their operation. Third, that amount in terms of subsidy would really be lower in terms of the benefits that would accrue to the overall economy in terms of labor, employment, improvement in backward linkages,” added the BOI official.
Surigao Integrated Resources Corporation, PGMC-CNEP Shipping Services Corp., and PGMC International Limited.
FNI operates the Cagdianao Mine in Surigao and the Ipilan Nickel Mine in Palawan, both under PGMC.
Ipilan Nickel Corporation (INC) has been accused by local communities and environmental advocates in Palawan for circumventing laws and for destroying the environment with its mining operations.
“Given this situation involving the questionable citizenship of the INC’s owner, Joseph Sy, we are calling on the government, particularly the DENR-MGB [Department of Environment and Natural Resources-Mines and Geosciences Bureau], to temporarily stop the operations of the mining company in Brooke’s Point, Palawan”, said Vic Colili, leader of the indigenous group Barongbarong Ipilan Calasaguen Aribongos Maasin Mambalot (Bicamm). Jonathan L. Mayuga
These discussions developed as it was brought up during the hearing that the government still owes subsidies to Toyota and Mitsubishi.
DTI officials present at the hearing confirmed outstanding payments and revealed that P225 million is allocated for next year to cover arrears. Summing up his concerns, Tinio said: Ang malaking problema po na may
Mass Russian drone and missile attack kills 12, injures 48 in Ukraine’s capital
By Hanna Arhirova & Samya Kullab The Associated Press
KYIV, Ukraine—A mass Russian drone and missile attack on Ukraine’s capital, including a rare strike in the center of the city early Thursday, killed at least 12 people and wounded 48, local authorities said.
It was the first major Russian combined attack on Kyiv in weeks as US-led peace efforts to end the three-year war struggled to gain traction. Russia launched 598 strike drones and decoys and 31 missiles of different types across the country, according to Ukraine’s Air Force, making it one of the war’s biggest air attacks.
Among the dead were three children ages 2, 14 and 17, said Tymur Tkachenko, the head of Kyiv’s city administration. The numbers are expected to rise. Rescue teams were on site to pull people trapped underneath the rubble.
“Russia chooses ballistics instead of the negotiating table,” Ukrainian President Volodymyr Zelenskyy said in a post on X following the attack. “We expect a response from everyone in the world who has called for peace but
now more often stays silent rather than taking principled positions.”
Russia’s Ministry of Defense said Thursday it shot down 102 Ukrainian drones overnight, mostly in the country’s southwest. A drone attack sparked a blaze at the Afipsky oil refinery in the Krasnodar region, local officials said, while a second fire was reported at the Novokuibyshevsk refinery in the Samara region.
Ukrainian drones have repeatedly struck refineries and other oil infrastructure in recent weeks in an attempt to weaken Russia’s war economy, causing gas stations in some Russian regions to run dry and prices to spike.
Russia strikes central Kyiv in a rare attack
RUSSIA launched decoy drones, cruise missiles and ballistic mis -
from the destruction. Crowds of residents stood nearby waiting for relatives to retrieved from the rubble, including a man who was waiting for information about his wife and son. Bodies in black bags were placed to the side of the building.
It was not the first time the district was targeted, neighborhood residents said.
Oleksandr Khilko arrived at the scene after a missile hit the residential building where his sister lives. He heard screams from people who were trapped under the rubble and pulled out three survivors, including a boy.
“It’s inhuman, striking civilians,” he said, his clothes covered in dust and the tips of his fingers black with soot. “With every cell of my body I want this war to end as soon as possible. I wait, but every time the air raid alarm sounds, I am afraid.”
Ukraine’s national railway operator, Ukrzaliznytsia, reported damage to its infrastructure in the Vinnytsia and Kyiv regions, causing delays and requiring trains to use alternative routes.
siles, said Tkachenko.
At least 20 locations across seven districts of Kyiv had impacts. Nearly 100 buildings were damaged, including a shopping mall in the city center, and thousands of windows were shattered, he said.
Ukrainian forces shot down and neutralized 563 drones and decoys and 26 missiles across the country, its Air Force said.
Russian strikes hit the central part of Kyiv, one of the few times Russian attacks have reached the heart of the Ukrainian capital since the start of the full-scale invasion. Residents cleared shattered glass and debris from damaged buildings.
The European Union’s diplomatic mission in Kyiv was damaged in the attack, senior EU diplomats said. European Commissioner for Enlargement Marta Kos condemned the attack as “a clear sign that Russia rejects peace & chooses terror,” in a post on X showing broken windows and doors at the mission.
Sophia Akylina said her home was damaged.
“It’s never happened before that they attacked so close,” the 21-year-old said. “Negotiations haven’t yielded anything yet, unfortunately people are suffering.”
Bodies pulled from the rubble SMOKE billowed from the crumbled column of a five-story residential building in the Darnytskyi district, which suffered a direct hit. An acrid stench of burning material wafted in the air as firefighters worked to contain the blaze.
Emergency responders searched for survivors and pulled bodies
Diplomatic efforts to reach peace have stalled THURSDAY’S attack is the first major combined Russian mass drone and missile attack to strike Kyiv since US President Donald Trump met with Russian President Vladimir Putin in Alaska earlier this month to discuss ending the war in Ukraine.
While a diplomatic push to end the war appeared to gain momentum shortly after that meeting, few details have emerged about the next steps.
Western leaders have accused Putin of dragging his feet in peace efforts and avoiding serious negotiations while Russian troops move deeper into Ukraine. This week, Ukrainian military leaders conceded Russian forces have broken into an eighth region of Ukraine seeking to capture more ground.
Zelenskyy hopes for harsher US sanctions to cripple the Russian economy if Putin does not demonstrate seriousness about ending the war. He reiterated those demands following Thursday’s attack.
“All deadlines have already been broken, dozens of opportunities for diplomacy ruined,” Zelenskyy said.
Trump bristled this week at Putin’s stalling on an American proposal for direct peace talks with Zelenskyy. Trump said Friday he expects to decide on next steps in two weeks if direct talks aren’t scheduled.
Associated Press journalists Yehor Konovalov and Vasilisa Stepanenko contributed to this report.
Pope demands end to ‘collective punishment,’ forced displacement of Palestinians in Gaza
RBy Nicole Winfield The Associated Press
OME—Pope Leo XIV demanded Wednesday that Israel stops the “collective punishment” and forced displacement of Palestinians in Gaza as he pleaded for an immediate and permanent ceasefire in the besieged territory amid preparations by Israel for a new military offensive. Leo was interrupted twice by applause as he read aloud his latest appeal for an end to the 22-month war during his weekly general audience attended by thousands of people in the Vatican’s auditorium.
History’s first American pope also called for the release of hostages taken by Hamas in southern Israel—50 of them remain in Gaza—and for both sides and international powers to end the war “which has caused so much terror, destruction and death.”
“I beg for a permanent ceasefire to be reached, the safe entry of humanitarian aid to be facilitated and humanitarian law to be fully respected,” Leo said. He cited international law requiring the obligation to protect civilians and “the prohibition of collective punishment, indiscriminate use of force and the forced displacement of the population.”
Palestinians in Gaza are bracing for an expanded offensive promised by Israel in some of the territory’s most populated areas including Gaza City, where famine has been documented and declared.
Israeli Prime Minister Benjamin Netanyahu has said Israel will launch its Gaza City offensive while simultaneously pursuing a ceasefire, though Israel has yet to send a negotiating team to discuss a proposal on the table. He has said the offensive is the best way to weaken Hamas and return hostages, but hostages’ families and their supporters have pushed back, saying it will further endanger them.
Hamas took 251 hostages on Oct. 7, 2023, in the attack that also killed about 1,200 people and triggered the war. Most hostages have been released during
previous ceasefires or other deals. Israel has rescued eight hostages alive. Of the 50 still in Gaza, Israeli officials believe around 20 are still alive.
Leo drew attention to a joint statement by the Latin and Greek Orthodox patriarchs of Jerusalem, who announced that the priests and nuns in the two Christian churches in Gaza City would stay put, despite Israeli evacuation orders ahead of the Gaza City offensive. They said the people sheltering in the churches were too weak and malnourished to move and that doing so would be a “death sentence.”
The Holy Family Catholic church and the Saint Porphyrius Orthodox church have sheltered hundreds of Palestinian civilians during the war, including elderly people, women and children as well as people with disabilities. Pope Francis, even during his final days in the hospital, stayed in daily touch with the parish priest of Holy Family to offer his solidarity and support to the people there, cared for by the nuns of Mother Teresa’s Sisters of Charity religious order. In their joint statement, Catholic Cardinal Pierbattista Pizzaballa and Orthodox Patriarch Theophilos III noted that just last weekend, Leo issued a strong statement about the rights of people to remain in their homelands and not be forced to move.
“All peoples, even the smallest and weakest, must be respected by the powerful in their identity and rights, especially the right to live in their own lands; and no one can force them into exile,” Leo said in comments Saturday to a group of forced refugees from the Indian Ocean archipelago Chagos that were clearly destined for a broader audience.
Netanyahu has said Gaza’s population should be relocated to other countries through what his government has described as voluntary emigration. Rights groups have objected, and Palestinians fear that even if they leave temporarily to escape the war, Israel will never allow them to return.
POPE LEO XIV reads his message during the weekly general audience at the Vatican, Wednesday, Aug. 27, 2025. AP PHOTO/GREGORIO BORGIA
FIREFIGHTERS work at the site of a burning building after a Russian attack in Kyiv, Ukraine, Thursday, Aug. 28, 2025. AP PHOTO/EFREM LUKATSKY
Floods affect 1.2 million, displace nearly 250,000 in eastern
By Babar Dogar & Munir Ahmed
The Associated Press
AROWAL, Pakistan—Rescuers in boats
Nraced to reach stranded families in Pakistan’s populous eastern Punjab province Thursday, after three major rivers burst their banks because of heavy rain and the release of water from overflowing dams in neighboring India.
The floods displaced nearly 250,000 people and officials said more than 1 million people were affected, with crops and businesses destroyed and many unable to leave their homes.
At least 15 people were killed a day earlier in Gujranwala district and nearby villages, according to police. Forecasters said more rain was expected Friday, after a two-day pause, and could continue into next week.
Provincial minister Marriyum Aurangzeb said floods hit 1,432 villages located along the Ravi, Sutlej and Chenab rivers, affecting about 1.2 million people and displacing 248,000 others.
Nearly 700 relief and 265 medical camps have been set up in the flood-hit areas, she said, adding that food and other essential supplies are being delivered to flood-hit areas.
Floods have killed more than 800 people in Pakistan since late June.
In Indian-controlled Kashmir’s Jammu region, some of the heaviest rains in decades for the month of August have wrought havoc, triggering flash floods and landslides that also hit two Hindu pilgrimage routes in the Himalayan areas.
Homes have been submerged and roads and bridges damaged, forcing Indian authorities to evacuate thousands of people living in flooded areas. At least 115 people have been killed and scores injured.
In Pakistan, it is also the first time in 38 years that the Ravi, Sutlej and Chenab rivers have been in high flood simultaneously, forcing rescue workers to intensify operations across
Pakistan
multiple districts, according to the provincial irrigation department.
Some families said they were still waiting for government help.
“My family on the rooftop of our house waited for two days for the arrival of a boat,” said Zainab Bibi, 54, as she sat along a road surrounded by floodwater in Narowal district. She admitted to ignoring an earlier government alert because she thought floods would never hit her village, located kilometers (miles) away from the river.
Farmer Mohammad Saleem, 47, said floods from across the Indian border swept away his home and belongings before his family could escape their village in Narowal district. His 38-year-old wife, Kaneez Bibi, said the floods swept away the dowry she had prepared for their eldest daughter’s wedding planned for November.
In Pakistan’s Punjab province, mass evacuations began earlier this week after heavier-thanusual monsoon rains and the release of water from overflowing dams in India triggered flash floods in low-lying border regions.
In a statement, Punjab Chief Minister Maryam Nawaz Sharif credited “timely evacuations” with saving lives. She said advance preparations and the demolition of illegallybuilt structures along waterways had helped prevent large-scale casualties in what officials describe as the province’s worst flood emergency in decades.
“No displaced person should be without food and medical help in the flood-hit areas,” she told officials during a meeting to review the situation. “Try your best to prevent the spread of water-borne disease among the flood-affected people,” she warned.
Ahmed reported from Islamabad. Associated Press writers Asim Tanveer in Multan, Pakistan, Aijaz Hussain in Srinagar, India, and Ishfaq Hussain in Muzaffarabad, Pakistan, contributed to this report.
Iran’s rial currency falls to near-record lows on European ‘snapback’ sanctions threat
By Jon Gambrell The Associated Press
DUBAI, United Arab Emirates — Iran’s rial currency fell to nearrecord lows Thursday as concerns grew in Tehran that European nations will start a process to reimpose United Nations sanctions on the Islamic Republic over its nuclear program, further squeezing the country’s ailing economy.
The move, termed the “snapback” mechanism by the diplomats who negotiated it into Iran’s 2015 nuclear deal with world powers, was designed to be vetoproof before the world body and would be likely to go into effect after a 30-day window. If implemented, the measure would again freeze Iranian assets abroad, halt arms deals with Tehran and penalizes any development of its ballistic missile program, among other measures.
In Tehran on Thursday, the rial traded at over 1 million to $1. At the time of the 2015 accord, it traded at 32,000 to $1, showing the currency’s precipitous collapse in the time since.
The rial hit its lowest point ever in April at 1,043,000 rials to $1.
France, Germany and the United Kingdom warned Aug. 8 that Iran could trigger snapback when it halted inspections by the International Atomic Energy Agency after Israeli strikes at the start of the two countries’ 12day war in June. Israeli attacks then killed Tehran’s top military leaders and saw Supreme Leader Ayatollah Ali Khamenei go into hiding.
Seeking to use the “snapback” mechanism likely will raise tensions further between Iran and the West in a Mideast still burning over the Israel-Hamas war in the Gaza Strip.
“The US and its European partners see invoking the ‘snapback’ as a means of keeping Iran strategically weak and unable to reconstitute the nuclear program damaged by the US and Israeli strikes,” the New York-based Soufan Center think tank said
Thursday.
“Iranian leaders perceive a sanctions snapback as a Western effort to weaken Iran’s economy indefinitely and perhaps stimulate sufficient popular unrest to unseat Iran’s regime.”
Iran appears resigned IRAN initially downplayed the threat of renewed sanctions and engaged in little visible diplomacy for weeks after Europe’s warning, but has engaged in a brief diplomatic push in recent days, highlighting the chaos gripping its theocracy.
Foreign Minister Abbas Araghchi, speaking last week, signaled Iran’s fatalistic view of its diplomacy with the West, particularly as the Israelis started the war just as a sixth round of negotiations with the United States were due to take place.
“Weren’t we in the talks when the war happened? So, negotiation alone cannot prevent war,” Araghchi told the state-run IRNA news agency. “Sometimes war is inevitable and diplomacy alone is not able to prevent it.”
At issue is Iran’s nuclear enrichment BEFORE the war in June, Iran was enriching uranium up to 60 percent purity, a short, technical step away from weapons-grade levels of 90 percent. It also built a stockpile containing enough highly enriched uranium to build multiple atomic bombs, should it choose to do so.
Iran long has insisted its program is peaceful, though Western nations and the IAEA assess Tehran had an active nuclear weapons program up until 2003.
It remains unclear just how much the Israel and US strikes on nuclear sites during the war disrupted Iran’s program.
Under the 2015 deal, Iran agreed to allow the IAEA even greater access to its nuclear program than those the agency has in other member nations. That included permanently installing cameras and sensors at nuclear sites. Other devices, known as online enrichment
monitors, measured the uranium enrichment level at Iran’s Natanz nuclear facility.
The IAEA also regularly sent inspectors into Iranian sites to conduct surveys, sometimes collecting environmental samples with cotton clothes and swabs that would be tested at IAEA labs back in Austria. Others monitor Iranian sites via satellite images.
But IAEA inspectors, who faced increasing restrictions on their activities since the US unilaterally withdrew from Iran’s nuclear deal in 2018, have yet to access those sites. Meanwhile, Iran has said it moved uranium and other equipment out prior to the strikes—possibly to new, undeclared sites that raise the risk that monitors could lose track of the program’s status.
On Wednesday, IAEA inspectors were on hand to watch a fuel replacement at Iran’s Bushehr nuclear reactor, which is run with Russian technical assistance.
European nations set deadline IN their Aug. 8 letter, the three European nations warned Iran they would proceed with “snapback” by the end of August if Tehran didn’t reach a “satisfactory solution” to the nuclear issues. That’s left little time
for Iran to likely reach any agreement with the Europeans, who have grown increasingly skeptical of Iran over years of inconclusive negotiations over its nuclear program. The deal’s snapback mechanism would expire Oct. 18, which put the three European nations in a situation where they likely feel now is the time to act. Under snapback, any party to the deal can find Iran in noncompliance, triggering renewed sanctions.
After it expires, any sanctions effort would face a veto from U.N. Security Council members China and Russia, nations that have provided some support to Iran in the past but stayed out of the June war. China as well has remained a major buyer of Iranian crude oil, something that could be affected in “snapback” happens.
Russia in recent days has floated a proposal to extend the life of the U.N. resolution granting the “snapback” power. Russia also is due to take the presidency of the U.N. Security Council in October, likely putting additional pressure on the Europeans to act.
Associated Press writer Amir Vahdat in Tehran, Iran, contributed to this report.
Climate change intensified deadly Mediterranean wildfires, study finds
By Menelaos Hadjicostis
The Associated Press
THENS, Greece—Climate
Achange that has driven scorching temperatures and dwindling rainfall made massive wildfires in Turkey, Greece and Cyprus this summer burn much more fiercely, said a new study released Thursday.
The study by World Weather Attribution said the fires that killed 20 people, forced 80,000 to evacuate and burned more than 1 million hectares (2.47 million acres) were 22 percent more intense in 2025, Europe’s worst recorded year of wildfires. Hundreds of wildfires that broke out in the eastern Mediterranean in June and July were driven by tempera -
Powerful Thai court again to decide fate of Thaksin-aligned prime minister
By Patpicha Tanakasempipat
APOWERFUL Thai court will decide the fate of yet another prime minister on Friday, potentially forcing out the fifth elected leader since 2008 and deepening the country’s political drift.
The case against Paetongtarn Shinawatra, a scion of the country’s most prominent political dynasty, highlights how the country’s conservative establishment— identified by analysts as an amalgamation of bureaucrats, the military and business elites—can thwart elected governments, disband political parties and engineer long stretches of military-backed rule.
The decision comes at a delicate time for the country, with its sluggish economy lagging regional peers and facing headwinds from new US tariffs. It will also be a test of the Shinawatra clan’s dominance in Thai politics.
The Constitutional Court, established in 1997 and one of the four bodies in the judiciary, has been seen as a tool of the country’s conservative forces, including the Senate, which appoints the judges.
“The court is meant to be a check and balance mechanism, but has been given outsized power to make or break politicians,”
said Olarn Thinbangtieo, deputy dean at Burapha University’s Faculty of Political Science and Law. “Its actions have been viewed as protecting the interests and power of the conservative elites.”
Alongside the Election Commission and National Anti-Corruption Commission, the three Senate-appointed bodies have shaped national politics with their powers to dissolve parties and ban politicians that they deem to have broken the rules, often blocking reforms.
The specifics of the case are rooted in the recent border clash between Thailand and Cambodia. In mid-June, as the tensions first began escalating, Paetongtarn spoke by phone with Cambodia’s de facto leader Hun Sen, who’s had close ties to her father, ex-premier Thaksin Shinawatra.
In a shock move that revealed the frayed ties between the two families, Hun Sen released a recording of the call, in which Paetongtarn came off as obsequious and critical of her own military.
Public backlash HER remarks drew backlash from the public and conservative politicians—who accused her of bowing to a foreign leader and undermining national interests—and
WWA, a group of researchers that examines whether and to what extent extreme weather events are linked to climate change, called its findings “concerning.”
“Our study finds an extremely strong climate change signal towards hotter and drier conditions,” said Theodore Keeping, a researcher at Centre for Environmental Policy at Imperial College in London.
“Today, with 1.3 degrees C of warming, we are seeing new extremes in wildfire behaviour that has pushed firefighters to their limit. But we are heading for up to 3 degrees C this century unless countries more rap -
idly transition away from fossil fuels,”
Keeping said.
The study found winter rainfall ahead of the wildfires had dropped by about 14% since the pre-industrial era, when a heavy reliance on fossil fuels began. It also determined that because of climate change, weeklong periods of dry, hot air that primes vegetation to burn are now 13 times more likely.
The analysis also found an increase in the intensity of high-pressure systems that strengthened extreme northerly winds, known as Etesian winds, that fanned the wildfires.
sparked protests calling for her resignation. She has apologized, saying the call was recorded without her knowledge, while denying wrongdoing and insisting her aim was to ease border tensions with Cambodia.
Under the 2017 military-backed charter, just 10 percent of senators can petition the court to disqualify ministers. In her case, the petition came from 36 of the 200-member Senate. Since last year, members of the Senate come from a complex “self-selection” process, which critics have said favors candidates aligned with conservative political parties. From a coup in 2014 until last year, the Senate was appointed by the military. The constitutional provisions evoked in disqualification cases are often opaque or ill-defined, said Prinya Thaewanarumitkul, a law professor at Thammasat University. Those include “a serious violation of or failure to comply with ethical standards,” which aren’t specified in the constitution.
The court has ousted four prime ministers linked to Thaksin, most recently Srettha Thavisin last year, also for ethics violation. Around the same time, the court dissolved a progressive party that won the 2023 general election for its campaign to amend the controversial royal defamation law, banning its leader Pita Limjaroenrat and executive members from running for public office for 10 years.
With assistance from Philip J. Heijmans/Bloomberg
HBy Kanis Leung The Associated Press
ONG KONG—Final arguments concluded Thursday in the landmark national security trial of Hong Kong pro-democracy newspaper founder Jimmy Lai, who could face up to a life sentence if convicted.
Lai founded the now-defunct Apple Daily, which had been one of the local news outlets most critical of the government. He was arrested in 2020 under a national security law imposed by Beijing following widespread anti-government protests in the territory in 2019.
Lai is charged with colluding with foreign forces to endanger national security and conspiring with others to issue seditious publications. His trial has stretched nearly 160 days, almost double the original estimate. The verdict date is unclear but is expected to be delivered in weeks or months. He could face a sentence ranging from three years in prison to a life term if he is convicted.
His case has drawn international attention as a test of press freedom and judicial independence in the Asian financial hub.
Heated discussion between judges and the defense OVER the past week, defense lawyer Robert Pang repeatedly butted heads with judges
“It seems that they cannot count on this pattern anymore,” Xanthopoulos said. More study is needed to understand how the wind patterns are reaching high velocities more often, he said.
Flavio Lehner, an assistant professor in Earth and atmospheric sciences at Cornell University who was not involved in the WWA research, said its summary and key figures were consistent with existing literature and his understanding of how climate change is making weather more conducive to wildfire.
Climate change is “loading the dice for more bad wildfire seasons” in the Mediterranean, Lehner said.
Gavriil Xanthopoulos, research director at the Institute of Mediterranean Forest Ecosystems of the Hellenic Agricultural Organization in Greece, said firefighters used to be able to wait for such winds to die down to control fires.
Final arguments in publisher Jimmy Lai’s national security trial conclude in HK
when he tried to argue that his client’s comments made online were just armchair punditry, pushing back against the prosecution’s notion that he was requesting sanctions, blockages or hostile activities against China or Hong Kong.
Last Friday, Esther Toh, one of the judges approved by the government to handle the case, challenged Pang’s arguments about freedom of expression. She said that right has its limits, and pointed to the arrests of people who expressed views about Palestinian issues in the US and Britain.
On Wednesday, lawyer Marc Corlett, who was also representing Lai, disputed the allegation that his client was conspiring with others, including those linked with an advocacy group called “Stand with Hong Kong Fight for Freedom,” to call for foreign actions.
Corlett described one of the prosecution witnesses involved in the alleged conspiracy as “a serial liar.” Even if the court took his evidence seriously, it doesn’t mean that Lai had entered into an ongoing agreement with others to work toward the alleged goal, he said.
The prosecution accused Lai of asking foreign countries, especially the United States, to take actions against Beijing “under the guise of fighting for freedom and democracy.”
It said Lai continued to request foreign actions even after his arrest in August 2020, citing Lai’s “persistent” foreign collaborations
as his “unwavering intent” to solicit foreign actions. It argued Lai’s testimony was not credible and that he had used the Apple Daily to seek foreign sanctions, describing the acts as a betrayal of national interest and security.
Lai’s yearslong detention raises concerns LAI, who is 77, has been in jail for about four years and eight months and has reported experiencing heart palpitations. Concerns over his health delayed the start of the final arguments this month. The government said a medical examination of Lai found no abnormalities and that the medical care he received in custody was adequate. When Lai entered the courtroom, he smiled and waved at people sitting in the public gallery. He also pressed his palms together in an apparent expression of gratitude. After Toh said the judges would inform the parties in “good time” about when the verdict may come and left the courtroom, Lai spoke with his lawyers briefly and waved at the public gallery before departing. Hours ahead of the hearing, dozens of people were in line outside the court building for a seat in the main courtroom. Resident Chan Chung-yee said he worried about Lai’s health, likening Lai to a flag representing freedom and democracy.
“Jimmy Lai did a lot of good deeds for us Hong Kongers,” he said.
Agri group assails delay in distribution of fertilizer subsidy
AN agriculture advocacy group on Thursday denounced the delay in the distribution of fertilizer subsidies to farmers, who it said were still recovering from the series of typhoons this year.
The Samahang Industriya ng Agricultura (Sinag) issued the statement on Thursday following reports from farmers in various regions who have not yet received the vital support from the government that was supposed to be distributed in June, coinciding with the start of the planting season.
The group demanded explanation from the Department of Agriculture.
Sinag chairman Rosendo So expressed apprehension that these delays may be a result of fictitious deliveries, which is particularly distressing for farmers who are still struggling to overcome the devastating impact of the typhoons and calamities that occurred earlier this year.
At the hearing of the Senate Committee on Agriculture, Food, and Agrarian Reform on Wednesday, So revealed that there was delay in fertilizer deliveries to Region 1 or Ilocos Region, Region
2 (Cagayan Valley), and Mimaropa region consisting of the islands of Mindoro, Marinduque, Romblon and Palawan.
“Are there ‘ghost deliveries’ of fertilizer subsidies in this situation?” So asked.
So said he had previously sought an explanation from the DA regarding the delay in the subsidy, which was expected to be released in time for the June planting season. He expressed disappointment that while some regions have received their fertilizer subsidy, others have not.
“As we approach the end of August, there’s still no fertilizer subsidy for certain regions, which is causing frustration. Some farming areas have already received their subsidy, so it’s concerning why others haven’t. What might be the reason for this delay in providing the subsidy to these regions?” he asked. So also drew attention to the contrast between this year and last year, when the timely release of the fertilizer subsidy coincided with a competitive price for palay. Despite the decrease in palay prices this year, the subsidy has yet to reach the farmers.
Go eyes expansion of free tertiary education
SEN. Christopher Go has pressed the Senate to prioritize expanded access to free tertiary education.
Building on the law that mandated free tuition in state colleges and universities, Go as chairman of the Senate Committee on Youth, filed a bill to expand it further to reach more students.
Speaking during the public hearing of the Senate Committee on Higher, Technical, and Vocational Education on Wednesday, Go reaffirmed his commitment to advance measures that strengthen inclusivity in education and break down persistent barriers for poor and disadvantaged Filipino youth.
Go said that the work remains unfinished. He explained that access to education continues to be a challenge, particularly for students living in remote areas without public universities or colleges, or for those whose desired programs are not available in existing public institutions.
“Even with Republic Act 10931 in place, we acknowledge that access to education can still be improved and expanded, especially for students in areas where public institutions either do not exist or do not offer the courses they wish to pursue. Persistent barriers may prevent many young Filipinos from fully realizing their academic
aspirations, such as geographic isolation, limited program offerings, and resource constraints in public schools,” he said.
This is where Go pointed to his recently filed Senate Bill 169, which seeks to expand the coverage of the Tertiary Education Subsidy (TES).
“I filed Senate Bill 169 by seeking to expand the Tertiary Education Subsidy or TES coverage. This measure proposes the inclusion of qualified poor students enrolled in private higher education institutions and technical-vocational institutions, especially in localities where comparable programs are not offered by nearby public institutions,” Go said. He explained that SBN 169 proposes a voucher system to allow academically qualified but economically disadvantaged students to pursue education in private schools if necessary for their desired academic path.
Go highlighted the urgency of passing the measure by pointing to alarming data on the dropout rate in higher education. Drawing from the report of the Second Congressional Commission on Education (Edcom 2), he emphasized how economic realities continue to derail the dreams of many students
House infrastructure panel to probe other govt projects
By Justine Xyrah Garcia
THE House of Representa -
tives’ Committee on Infrastructure said on Thursday it is also set to investigate other government projects flagged as questionable, not just those involving flood control.
The House InfraComm cochairperson, Bicol Saro Rep Terry L. Ridon, confirmed that the panel will soon release a resolution clarifying the scope of its inquiry.
“We will not be limited to flood control projects alone. Like what we had stated, even slope protection in Benguet can be covered by the InfraComm, even problematic
bridges, for example in Cabagan, Isabela, that can be discussed too,” Ridon said in a media briefing.
The move comes a day after Vice President Sara Duterte urged the Marcos administration to go beyond investigating flood control projects.
Speaking in The Hague, the Netherlands, Duterte stressed that accountability must also look into other government projects and extend its investigation to officials and contractors linked to those questionable projects as well.
Ridon explained that as long as the infrastructure projects were implemented by the Department of Public Works and
Highways (DPWH) or any government agency, the committee will examine them.
“It includes all infrastructure projects and, more importantly, it includes a very expanded timeline. That means if we are able to find projects that have been ghosted, or projects that are substandard at any time but were implemented by any government agency, we will take them up,” he added.
Manila Rep. Bienvenido M. Abante also clarified that the investigation will not be a “witchhunting probe,” stressing that the committee only seeks to determine if there are anomalies in government projects.
“If there is an anomaly—whatever it is, whether ghost projects, whether such a project really exists, or whether it is substandard—that needs to be investigated,” Abante said. He added that the probe would most likely start with flood control projects since these are not easily visible to the public.
The InfraComm is expected to begin its investigation on September 2, starting with flood control projects in Bulacan, including contractors linked to substandard works.
Ridon added that the committee will personally inspect in order assess the state of these projects.
Disaster-affected Antique town farmers get ‘greenhouse’ for veggie production
By Jonathan L. Mayuga @jonlmayuga
THE Department of Agrarian Reform (DAR) recently turned over P300,000 worth of greenhouse facility to agrarian reform beneficiaries (ARBs) in Apgahan, Patnongon, Antique, to boost the group’s vegetable production. A total of 132 ARBs from the Aureliana-Apgahan Agrarian Reform Communities Farmers Association are set to benefit from the facility which was provided through DAR’s
Climate Resilient Farm Productivity Support Project—Sustainable Livelihood Support (CRFPSP-SLS).
CRFPSP-SLS assists agrarian reform communities affected by disasters.
Provincial Agrarian Reform Program Officer (Parpo) Geralyn Cañas said the greenhouse will enable farmers to sustain year-round vegetable production while protecting crops from erratic weather, pests, and diseases.
Tfood on their tables while boosting supply for the local market,” Cañas said.
She encouraged the ARBs to maximize the use of the greenhouse by planting essential daily vegetables that will benefit both their families and the community.
The group’s president, Carlos Marcelino Jr., expressed gratitude to DAR, assuring that members will take care of the project and maximize its benefits. “We are
thankful for this timely intervention. This greenhouse will not only serve our present needs but also help secure the future of our community,” he said. The initiative is part of DAR’s continuing efforts to equip agrarian reform communities with climate-resilient and sustainable livelihood projects that strengthen productivity, improve household incomes, and build resilience against climate change.
By Joel R. San Juan @jrsanjuan1573
HE Pasig City Prosecutors
Office has dismissed the copyright infringement case filed against detained Kingdom Of Jesus Christ founder Apollo Quiboloy in connection with his alleged unauthorized use of a song for his campaign jingle for his senatorial bid last May.
Also cleared by the city prosecutors was Quiboloy’s co-respondent Marlon B. Rosete, president of SMNI Network.
“This Office finds no prima facie evidence with reasonable certainty of conviction that respondents committed the crime,” the resolution read.
The criminal complaint for copyright infringement was filed
against Quiboloy and Rosete by hip-hop artist Omar “Omar Baliw” Manzano.
Manzano claimed that his song “K&B” was used without permission as a campaign jingle for Quiboloy, a criminal offense under Republic Act 8293, or the Intellectual Property Code of the Philippines.
Quiboloy, who lost in his senatorial bid, is currently detained at the Pasig City Jail while undergoing trial for the qualified human trafficking and child abuse and exploitation cases filed against him.
The KOJC founder has also been indicted in a California court in 2021 for allegedly conspiring to engage in sex trafficking by force, fraud and coercion, as well as sex trafficking of children.
Quiboloy’s camp has denied all the accusations against him.
Davao private hospital eyed for partnership with future UP med school
DBy Manuel T. Cayon @awimailbox
AVAO CITY—The technical working group tasked to form the University of the Philippines-Mindanao School of Medicine has identified a private hospital here for possible partnership in training and other medical education programs.
The technical working group visited San Pedro Hospital (SPH) early this week to discuss a potential partnership for the future UP Mindanao School of Medicine.
The visiting team was led by Chancellor Lyre Anni E. Murao, Vice Chancellor for Academic Affairs Maria Stella R. Salazar, Franklin Guillano, and Christine Dayanghirang.
Sr. Ma. Sonia Venus, SPH president and administrator, has expressed willingness of the hospital management to serve as an affiliate hospital for the UP Mindanao School of Medicine, saying that it was the hospital’s commitment to support
the next generation of healthcare professionals.
She said the SPH has been accepting interns from medical schools in the city.
Venus said the hospital management wanted to emphasize the importance of value formation and adherence to institutional policies for UP Mindanao students undertaking clerkships and internship rotations.
UP Mindanao said that “as for the next step, the UP Mindanao School of Medicine Technical Working Group will prepare a letter of intent and a draft Memorandum of Agreement outlining the medical curriculum background, potential arrangements, scheduling, and other pertinent details of the program.”
San Pedro Hospital is a tertiary hospital with accredited training programs in medicine, surgery, obstetrics-gynecology, and pediatrics, making it an ideal training hospital for UP Mindanao’s Doctor of Medicine program.
Breaking down barriers: OneSEC expansion fuels entrepreneurship in PHL
THE Securities and Exchange Commission’s decision to widen access to its One Day Submission and Electronic Registration of Companies (OneSEC)—expanding eligible industries from 33 to 81—is a welcome, concrete step toward modernizing the country’s business environment. (Read the BusinessMirror story: “SEC allows more industries to avail of 1-day registration,” August 27, 2025).
For small entrepreneurs, company registration is crucial for obtaining legal rights, accessing credit, receiving government support, and unlocking investment opportunities for growth. By making registration faster and cheaper, the SEC is removing an important barrier that has kept many small enterprises trapped in informality.
The technological advancements are remarkable. The ability for a company to move from application to a digital certificate of incorporation in just 74 seconds is more than a mere novelty; it demonstrates how well-designed digital systems can revolutionize public service delivery.
The pre-filled forms and streamlined workflows of OneSEC and eSPARC exemplify how automation and user-centered design reduce error, cut processing time, and free up agency staff for higher-value tasks. The exponential rise in registrations—from 1,014 in May to 2,938 in July—demonstrates latent demand: when the path to formality is simpler, entrepreneurs will take it. In a bid to encourage entrepreneurship and facilitate access to capital, the SEC has introduced a discounted fee structure, offering a 20 percent reduction in registration fees for micro, small, and medium enterprises, and up to 50 percent off filing fees for those interested in entering the capital market. These incentives are particularly important in a country where many microbusinesses view incorporation as costly and cumbersome. By lowering costs and simplifying processes, the SEC increases the pool of businesses that can grow into employers, taxpayers, and investment-ready companies.
Yet progress is not automatic, and the gains must be consolidated. Rapid registration is only the first step. New corporations need access to business development services, legal and accounting assistance, financial literacy, affordable credit, and markets. Without these, a certificate of incorporation risks becoming a piece of paper rather than a platform for growth. The SEC, other agencies, and the private sector should therefore coordinate to create post-registration “on-ramps” that guide newly formalized firms toward compliance, financing, and capacity building.
Inclusivity must be central. The expanded OneSEC list should be monitored to ensure it benefits entrepreneurs across regions and sectors, not just better-connected urban startups. Implementation bottlenecks—language barriers, digital literacy gaps, uneven Internet access—can exclude the very micro-entrepreneurs the policy intends to help. The SEC should pair digital processes with outreach, user support, and offline alternatives for those who cannot immediately go online.
The SEC should consider this policy as the beginning of a more extensive reform effort. Chairman Francis Lim’s commitment to regularly evaluate internal policies is commendable. The next step is to integrate company registration with additional services—such as tax registration, social security, and local business permits—to establish a single point of access for entrepreneurs. This integration would enhance the benefits of OneSEC by minimizing redundant compliance processes and fostering better coordination among agencies.
The SEC’s expansion of OneSEC’s coverage is a substantive, pro-growth reform that rightly shifts incentives toward formalization. It demonstrates how digitalization, sensible fee policy, and clear regulatory intent can lower barriers to entrepreneurship. To realize the full promise, however, this achievement must be matched with support services, inclusion measures, strong safeguards, and deeper government integration. If sustained, these reforms can pave the way for more Filipino entrepreneurs to build scalable and investment-ready companies, generating more jobs, increasing tax revenues, and promoting dynamic economic growth that benefits everyone.
Washing machines and the economics of everyday technology
DEAGLE WATCH
EVELOPMENT often hides in plain sight, not only in massive infrastructure projects but in the humble technologies inside people’s homes. One such technology is the washing machine. Far from being just another consumer product, it is an instrument of economic change—freeing up time, reducing unpaid labor, and shaping the rhythms of everyday life.
In a recent industry gathering where I was invited to share insights on appliance trends, I highlighted how the washing machine embodies the intersection of technology, household behavior, and inclusive development. The Philippine market itself is expanding: revenues are projected at $208 million in 2024, with an annual growth of 5.7 percent until 2029 (Statista, 2024). Fully automatic machines now make up more than 60 percent of sales, reflecting the growing preference for convenience.
Sales channels reveal another shift. While physical stores remain the main point of purchase, online washing machine sales are projected to grow by more than 40 percent from 2023 to 2027 (Euromonitor, 2023). Filipino consumers increasingly turn to digital platforms to research, compare, and eventually
decide on big-ticket household purchases. This hybrid buying pattern is reshaping how appliance makers reach households.
Ownership patterns, however, show the gaps still need to be addressed. Just 57 percent of Filipino households owned a washing machine as of 2021 (Philippine Statistics Authority), compared to over 90 percent in Thailand and more than 80 percent in Vietnam (World Bank, 2022). This means many families, especially in rural and low-income areas, still depend on manual handwashing. The time cost is staggering: households spend 6 to 8 hours weekly on laundry (ICM Survey, 2023), time that could otherwise be devoted to work, study, or care.
The economic implications are significant. International studies, such as Greenwood, Seshadri, and
Yorukoglu’s work on household appliances, show that labor-saving devices contributed to rising female labor force participation in the United States. For Asia, the Asian Development Bank (2015) pointed to reducing unpaid domestic work as a pathway to greater productivity. In the Philippines, the diffusion of washing machines could play a similar role—especially in freeing women’s and children’s time for education and income opportunities. But adoption barriers persist. At my presentation, I emphasized three challenges: high costs (particularly for full automatic models), limited space in urban housing, and the country’s second-highest energy costs in Asean (IEA, 2023). For rural families, affordability is decisive: semi-automatic machines, priced 30-40 percent lower, remain the entry point. Without addressing these hurdles, the benefits of time-saving technology will remain skewed toward the middle class.
There is also a new layer of demand. Beyond affordability, many Filipino households are aspiring for “high-end caring” features—machines with fabric-care technology, eco-friendly modes, AI sensors, and water-saving designs. This signals an important consumer shift: people are not only looking to save time but also to care for their clothes better, reduce electricity and water use, and align with more sustainable practices. In fact, the International Energy Agen-
French risk gauge hits seven-month high as political fears grow
By James Hirai, Alice Gledhill & Julien Ponthus
FRANCE’S benchmark bond-yield premium over Germany closed at its highest since January in the latest sign of investor concern about the nation’s political outlook and troubled finances.
Borrowing costs for French 10year debt rose two basis points to 3.52 percent on Wednesday. That increased the compensation investors demand to hold the bonds over their German peers to 82 basis points. The gap was just 65 basis points two weeks ago.
Meanwhile, France’s 30-year bond yields hit a fresh 14-year high at 4.45 percent, the loftiest rate after Italy’s in the euro-area.
French markets were thrust into the spotlight by Prime Minister Francois Bayrou’s decision on Monday to call a vote of confidence in his government for September 8—an attempt to force parties to take a position on his budget plan.
While the bond moves on Wednesday weren’t quite as sharp as those seen earlier in the week—
and the benchmark stock index was trading higher—crowded positioning in French debt markets means a selloff could be steeper than during the last bout of political uncertainty, according to Bank of New York Mellon Corp.
A trio of major credit rating reviews in the coming months could also prove a catalyst for further volatility, with Fitch Ratings scheduled to assess France on September 12—just days after the parliamentary vote.
“If we see some downgrades, that would be a big deal—people may be forced into changing their holdings,” said James Novotny, investment manager at Jupiter Asset Management, adding that the nation’s fiscal position stands out as the worst in the region. “France has got away
with being a core member of Europe for a long time.”
Pushback
BAYROU is facing political pushback against €44 billion ($51 billion) of spending cuts and tax increases that he considers vital to shore up France’s public finances. A similar scenario last year roiled French assets and ultimately led to the ouster of Bayrou’s predecessor after only 90 days.
The French premier’s decision to risk a confidence vote surprised observers and allies, but Macron has given his “total support” for the move as a necessary step to repairing public finances, according to government spokeswoman Sophie Primas.
“He is in perfect harmony, full agreement, and complete support
cy (2023) notes that modern efficient machines use up to 25 percent less electricity and 40 percent less water than older models. This convergence of convenience and sustainability is shaping the next phase of the market. The bigger question is how public policy can support these shifts inclusively. Just as conditional cash transfers (or sometimes called “ayuda”) have improved health and education outcomes, could targeted programs help poor families access time-saving appliances? Could partnerships with microfinance groups make washing machines more affordable for households that stand to benefit the most? These interventions may seem small, but multiplied across millions of households, the impact could be transformative—lifting burdens, freeing time, and contributing to productivity gains at scale. Ultimately, the washing machine deserves attention not simply as a household item, but as an economic enabler. It transforms the way families allocate their time, strengthens opportunities for women, and responds to both aspirations for convenience and demands for sustainability. The challenge now is to ensure that its benefits are not confined to a few but spread widely—helping shape a more inclusive and futureready economy.
Mr. Thomas L. Lazaro III is a graduate student at the Department of Economics of Ateneo de Manila University.
on the issue of producing more and spending public money more efficiently,” Primas said, speaking after a cabinet meeting on Wednesday. Bayrou is likely to lose the confidence vote, however, as he has no majority in the National Assembly and parties from the far-left to the far-right are aligning to force his resignation. If the government falls, it would be up to Macron to appoint a new prime minister. Some opposition parties have called for a more radical step of fresh legislative elections, although Primas said that was not discussed at the cabinet meeting. Should the political crisis deepen, the 10-year yield spread over Germany could spike to 100 basis points for the first time since 2012, according to Guillaume Rigeade, Carmignac’s co-head of fixed income.
“Fiscal consolidation is a national imperative,” said Geoff Yu, EMEA macro strategist at Bank of New York Mellon. “We expect French bonds to continue performing poorly.” He warned that crowded positioning in French government bonds
Thomas L. Lazaro III
Slovenia urges EU to address uneven response to Israel, Russia
By Jan Bratanic & Patrick Donahue
SLOVENIA’S top diplomat warned the European Union risked projecting a double standard if it failed to take Israel to task for the bloodshed in the Gaza Strip even as it moves ahead with additional sanctions against Russia.
Foreign Minister Tanja Fajon accused Prime Minister Benjamin Netanyahu’s government of violating international law and committing “clear genocidal acts” and said that the EU had failed to impose a “single real measure” against Israel.
She contrasted the bloc’s relative inaction on Gaza with the consensus about the need to punish the Kremlin for its war on Ukraine—a policy that she said the Slovenian government “fully” supported.
“I really hear a lot of criticism from our global partners that don’t understand us—the way we are reacting on the distinct conflicts,” Fajon, 54, said in an interview in her office in Ljubljana. “I do hope there will be even more, growing pressure from our societies” on Israel.
The comments lay bare divisions between EU member states on how to respond to the humanitarian crisis in Gaza even as several have become more vocal in rebuking the Israeli government. European nations have stepped up criticism of Israel’s plans to push further into the enclave’s de facto capital, Gaza City.
Slovenia, an Alpine nation of just over 2 million people, has sought to take a lead among EU states in criticizing the spiraling toll. The country became the first member to ban all weapons trade with Israel at the end of July, weeks after it declared two Israeli cabinet members personae non gratae. It followed the measures with a ban on the trade of goods from occupied Palestinian territories.
It’s joined Ireland, Spain and Norway in recognizing Palestine as an independent state. In late July, French President Emmanuel Macron said he’d do the same, provoking backlash from Israel.
Meanwhile, US President Donald Trump called for an end “soon” to Israel’s war with Hamas, even as he continued to back Netanyahu—and declined to urge him by name to stop the stepped up campaign in Gaza.
Going it alone
THE hardening view in Europe reflects increasing frustration with Netanyahu’s government, risking Israel’s deeper global isolation. Germany, one of the bloc’s staunchest allies of Israel, this month halted deliveries of military equipment that could be used in Gaza.
Slovenia’s moves so far have been largely symbolic, with some €214 million ($248 million) in trade with Israel in 2024. However, the government in Ljubljana has said other nations may join its efforts to force Netanyahu to end the war, which has led to more than 62,000 Palestinian fatalities, according to the Hamas-run health ministry. They also represent a dramatic shift for the country, which, under the pre-
poses a bigger threat than during a similar episode of political risk in 2024, with the risk of pent-up outflows “extremely high.”
“Extra risk is being priced into French sovereign bonds as the government faces collapse in a confidence vote due to be held early next month. However, the repricing is measured so far, if we look at asset swap spreads. They are the cleanest way to assess the risk of holding French government bonds. The more negative the spread, the greater the disincentive to hold them.... The spread is becoming more negative, but it still remains higher than it was at the beginning
UST hosts UAAP Season 88 with the theme ‘Strength in Motion, Hope in Action’
The comments lay bare divisions between EU member states on how to respond to the humanitarian crisis in Gaza even as several have become more vocal in rebuking the Israeli government. European nations have stepped up criticism of Israel’s plans to push further into the enclave’s de facto capital, Gaza City.
vious Prime Minister Janez Jansa, was a staunch Israel ally. Fajon, who was a member of the European Parliament from 2009 to 2022, said she pushed for an EU response on Gaza after a review of Israel’s cooperation agreement showed “clear” violations of international law, but member states deadlocked on reaching an agreement for taking action.
“For that reason, we agreed that we will go ahead on our own,” the minister said. While acknowledging that bigger EU states had shifted toward a more critical stance, she said she didn’t “see really sufficient movement.”
More vocal criticism of Israel has proven to be politically difficult in some EU capitals. German Chancellor Friedrich Merz was rebuked by some of his conservative allies for failing to communicate his decision on weapons—and for potentially jeopardizing Berlin’s support for the Jewish state.
Last week, Dutch Foreign Minister Caspar Veldkamp resigned after fellow cabinet members refused to support sanctions against Israel, fracturing the caretaker coalition. Hamas, which is designated a terrorist group by the US and many other countries, triggered the war on Oct. 7, 2023, with an incursion into Israel in which 1,200 people were killed and 250 abducted.
Double standard SLOVENIA will have a greater voice at the United Nations General Assembly next month, with a non-permanent seat on the Security Council. Fajon suggested that as many as 10 more nations will recognize Palestinian sovereignty after the meeting in New York.
Fajon, who is a deputy prime minister in Slovenia, made reference to last week’s declaration of a famine in Gaza by a UN-backed body, which prompted little movement within the EU. And yet, “we are discussing the 18th package of sanctions against Moscow,” the minister said. She emphasized her primary goal was achieving an end to the “brutal war.”
There is a sense “the whole international community failed a test of humanity,” she said. Bloomberg
of the year,” said Bloomberg strategist Simon White.
The latest bout of political instability could endanger a nascent economic recovery as companies hold off on hiring and investment. The government estimates economic growth will come in at 0.7 percent this year.
Still, investors such as PGIM Fixed Income are eying the potential opportunity to add exposure to France after the recent bond market moves.
“We cannot deny that risks have increased and the market is clearly showing some signs of anxiety, but it’s nothing that we are not used to when thinking about France,” said its global investment strategist Guillermo Felices in an interview with Bloomberg TV. With assistance from William Horobin and Alice Atkins/Bloomberg
‘KKuwentong Peyups
AHIT bumaha, tuloy tayo. Hindi kumpleto experience niyo sa UST kung walang ulan o bagyo. Kasama ’yun sa Thomasian experience.”
Fr. Rodel Cansancio, the athletic director of the University of Santo Tomas (UST), declared their readiness to deal with inclement weather conditions once the University Athletic Association of the Philippines (UAAP) Season 88 opens on September 19, 2025 at the UST campus. As this season’s host, UAAP Season 88 President Fr. Cansancio jokingly said that if the UAAP opening ends up rainy, it would perfectly capture the essence of being a Thomasian, including the familiar rains and floods UST is often associated with.
With the theme “Strength in Motion, Hope in Action,” the opening ceremony will aim to recreate the festive spirit of Paskuhan and other iconic UST traditions at the UST Grandstand and Open Field.
Rain or shine, the festivities will begin with a Eucharistic celebration at 2 p.m., followed by the main program at 6 p.m. with the traditional athletes’ parade, the oath of sportsmanship, the lighting of the UAAP cauldron, a drone display, fireworks show, and a concert.
The Season 88 logo features two interlocking number eights forming a flame at the center that represents passion, strength, and teamwork.
The shared strokes between the two figures symbolize the unity among UAAP schools, while the flame captures the collective pursuit of excellence.
The logo’s colors are inspired by the official hues of each UAAP member university: green and maroon for UP, gold and white for UST, gold and green for FEU, gold and blue for NU, blue and white for Ateneo, green and white for DLSU, blue and white for Adamson, and red and white for UE.
The logo serves as a visual rallying cry: that when athletes, schools, and communities move as one, real change can be achieved.
UST alumnus, singer-songwriter Kean Cipriano of Calla Lily, sung the official UAAP 88 theme song “Strength in Motion, Hope in Action” with lines such as “for courage blooms where kindness lies” and “hands will clash yet souls align.”
The sequence of hosting is UST for this year followed by FEU, NU, Ateneo, La Salle, Adamson, UE and back again to Season 87 host UP.
The UAAP is an athletic association of eight Metro Manila universities in the Philippines, composed of UP, (AdU), Ateneo de Manila University, De La Salle University (DLSU), Far Eastern University (FEU), National University (NU), University of the East (UE), and University of Santo Tomas (UST).
FEU, NU, UP, UST are the original members that formed UAAP in 1938. Adamson and UE joined in 1952 followed by Ateneo in 1978 and DLSU in 1986.
Each school has its own moniker: Soaring Falcons for Adamson, Blue Eagles for Ateneo, Green Archers for DLSU, Tamaraws for FEU, Bulldogs for NU, Red Warriors for UE, Fighting Maroons for UP, and Growling Tigers for UST.
They compete in 28 events from 15 sports to vie for the overall championship title.
First semester sports from August to December include athletics, badminton, basketball, beach volleyball, cheer dance, chess, E-sports, football, swimming, and table tennis.
Second semester sports from January to May include baseball, fencing, softball, street dance, tennis, volleyball, and 3×3 basketball. Judo and taekwondo are usually
staged in the first semester but will now be moved to the second semester. High school baseball will be coming back while tennis boys’ tournament for high school will be introduced this Season 88.
Organizers expect up to 30,000 attendees, including Thomasians, alumni, stakeholders, and 1,000 delegates per UAAP school. If weather becomes unfavorable on the opening day, it will be moved to Monday, September 22. The basketball matches, however, will continue over the weekend. The UP Fighting Maroons begins its title defense against the home team Growling Tigers on September 21.
UP was the host of last year’s Season 87 with the opening ceremony highlighted by the performance of the iconic OPM band Eraserheads, who are all UP alumni, with their seven songs—Alapaap, Sembreak, Ligaya, Pare Ko, Minsan, Magasin, and Ang Huling El Bimbo. The opening festivities also included performances of home grown talents—the UP Symphony Orchestra, Concert Chorus, Kontra Gapi, hip-hop dance group ‘UPeepz’, indie musician Johnoy Danao and the Maroon 4 composed of Slapshock guitarist Lean Ansing, Franco bassist Dave Delfin, and Moonstar88’s drummer Bon Sundiang and vocalist Maysh Baay.
Peyups is the moniker of University of the Philippines Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-502580.
Trump foes like Fed Governor Lisa Cook find themselves targeted by top housing regulator
By Chris Megerian, Brian Slodysko & Fatima Hussein The Associated Press
WASHINGTON—When Bill Pulte was nominated as the country’s top housing regulator, he told senators that his “number one mission will be to strengthen and safeguard the housing finance system.”
But since he started the job, he’s distinguished himself by targeting President Donald Trump ‘s political enemies. He’s using property records to make accusations of mortgage fraud and encourage criminal investigations, wielding an obscure position to serve as a presidential enforcer.
This week, Trump used allegations publicized by Pulte in an attempt to fire Lisa Cook, a member of the Federal Reserve board, as he tries to exert more control over the traditionally independent central bank.
Pulte claims that Cook designated two homes as her primary residence to get more favorable mortgage rates. Cook plans to fight her removal, laying the groundwork for a legal battle that could reshape a cornerstone institution in the American economy.
Trump said Tuesday that Cook “seems to have had an infraction, and you can’t have an infraction,” adding that he has “some very good people” in mind to replace her.
Pulte has cheered on the president’s campaign with a Trumpian flourish.
“Fraud will not be tolerated in President Trump’s housing market,” he wrote on social media. “Thank you for your attention to this matter.”
Pulte targets Democrats but not Republicans PULTE , 37, is a housing industry scion whose official job is director of the Federal Housing Finance Agency. He oversees mortgage buyers Fannie Mae and Freddie Mac, which were placed in conservatorship during the Great Recession almost two decades ago.
Like other political appointees, he routinely lavishes praise on his boss.
“President Trump is the greatest,” he posted over the weekend.
Pulte has made additional allegations of mortgage fraud against Sen. Adam Schiff, one of Trump’s top antagonists on Capitol Hill, and New York Attorney General Letitia James, who filed lawsuits against Trump. Those cases are being pursued by Ed Martin, a Justice Department official.
“In a world where housing is too expensive, we do not need to subsidize housing for fraudsters by letting them get better rates than they deserve,” Pulte wrote on social media.
Pulte has ignored a similar case involving Ken Paxton, the Texas attorney general who is friendly with Trump and is running for Senate in his state’s Republican primary. Paxton took out mortgages on three properties that were all identified as his primary residence.
He also has mortgages on two other properties that explicitly prohibit him from renting the properties out, but both have been repeatedly listed for rent, according to real estate listings and posts on short-term rental sites.
Asked about Pulte’s investigations and Trump’s role in them, the White House said that anyone who violates the law should be held accountable.
“President Trump’s only retribution is success and historic achievements for the American people,” said Davis Ingle, White House spokesman. It’s unclear whether Pulte is using government resources to develop the allegations he has made. Mortgage documents are generally public records, but they are typically maintained at the county level across most of the US, making them difficult to comprehensively review. However, Fannie Mae and Freddie Mac, which are both governmentsponsored entities, purchase large tranches of mortgages from lenders,
which could centralize much of that information, real estate and legal experts say.
FHFA did not respond to a detailed list of questions from the AP, including whether Pulte or his aides used government resources to conduct his research.
It’s not just mortgages PULTE’S broadsides go beyond mortgages. He’s been backing Trump’s criticism of Jerome Powell, chair of the Federal Reserve, over expensive renovations at the central bank’s headquarters. Trump is pressuring Powell to cut interest rates in hopes of lowering borrowing costs, and his allies have highlighted cost overruns to suggest that Powell is untrustworthy or should be removed from his position.
“This guy is supposed to be the money manager for the world’s biggest economy, and it doesn’t even look like he can run a construction site,” Pulte said while wearing a neon safety vest outside the building. “So, something doesn’t smell right here.”
Since returning to the White House, Trump has reached deep into the government to advance his agenda. He’s overhauled the federal workforce with the Office of Personnel Management, pushed ideological changes at the Smithsonian network of museums and fired the commissioner of the Bureau of Labor Statistics when he didn’t like a recent report on job numbers.
With Pulte in charge, the Federal Housing Finance Agency is becoming another instrument of Trump’s mission to exert control and retaliate against enemies.
It’s a contrast to the Internal Revenue Service, where Trump has unsuccessfully discussed ways to use tax policies as a pressure point. For example, during battles over higher education, Trump threatened to take away Harvard’s long-standing taxexempt status by saying, “It’s what they deserve.”
However, there are more restrictions there, dating back to the Watergate scandal under President Richard Nixon.
“It’s been hard for the administration to use the inroads it wants to use to pursue its enemies,” said Vanessa Williamson, a senior fellow at the Urban-Brookings Tax Policy Center. She said, “The law is very clear about taxpayer privacy and the criminal penalties at play are not small.”
Before going on the attack, Pulte played nice online PULTE is heir to a home-building fortune amassed by his grandfather, also named William Pulte, who founded a construction company in Detroit in the 1950s that grew into the publicly traded national housing giant now known as the Pulte Group. He spent four years on the company’s board, and he’s the owner of heating and air conditioning businesses across the US. He had never served in government before being nominated by Trump to lead the Federal Housing Finance Agency.
“While many children spent their weekends at sporting events, I spent mine on homebuilding jobsites with my father and grandfather,” Pulte said in written testimony for his nomination hearing. “From the ground up, I learned every aspect of housing—whether it was cleaning job sites, assisting in construction, or helping sell homes.”
He once tried to make a name for himself with good deeds, describing himself as the “Inventor of Twitter Philanthropy” and offering money to needy people online. He was working in private equity at the time, and he told the Detroit Free Press that he funded his donations with some “very good liquidity events” to power his donations.
Even six years ago, he appeared focused on getting attention from Trump.
“If @realDonaldTrump retweets this, my team and I will give Two Beautiful Cars to Two Beautiful Veterans on Twitter.” Trump replied, “Thank you, Bill, say hello to our GREAT VETERANS!” Pulte, whose most recent financial disclosure shows a net worth of at least $180 million, was also ramping up his political donations.
Dennis Gorecho
Friday, August 29, 2025
BusinessMirror
PHL seas, energy program may get chunk of ADB loan
By Cai U. Ordinario @caiordinario
THE Asian Development Bank (ADB) pipeline for the Philippines covers $2.64 billion worth of projects for this year and next year.
Nine projects are slated for approval in 2025 and 2026, according to the Manila-based multilateral development bank.
More than half or five projects worth $1.55 billion are scheduled for approval this year while four projects worth $1.08 billion are expected to secure the green light in 2026.
For 2025, the largest project still to be approved by the ADB Board is the $500-million Marine Ecosystems for Blue Economy Development Program Subprogram 1, which aims to support the development of resilient coastal and marine ecosystems as well as a thriving blue economy.
The other projects slated for approval this year include the $400-million Insurance Reform Program Subprogram 1; $400-million
Business Environment Strengthening with Technology Program Subprogram 1; $190-million Geothermal Resource De-Risking Facility; and the $61- million Baguio Resilient City Tourism Project.
The data also showed the largest in the ADB pipeline for 2026 is the $500-million Energy Efficiency in Public Buildings Program which aims to support the government in implementing the Government Energy Management Program (GEMP).
Project documents stated that the GEMP requires all government buildings to reduce their monthly energy consumption by at least 10 percent.
Other projects slated for approval next year are the $461-million National Total Electrification Support Program; $62.7-million Mindanao
Irrigation Development Project
Phase I; and the $61-million Promoting Sustainability and Productivity for Enterprise Resilience and Upscaling in the Philippines (ProSPER) Project which was formerly the Mindanao Agro-Enterprise Development Project.
The most recent loan approval made by the ADB Board for the Philippines was the $400 million that will be used to finance the government’s new flagship social assistance initiative, the Walang Gutom (Zero Hunger) Food Stamp Program.
The project will help finance the
TARIFF BODY SETS TALKS ON SAFEGUARD MEASURES FOR IMPORTED PAPER PRODUCT
By Andrea E. San Juan
THE Tariff Commission is set to conduct a preliminary conference on the imposition of definitive safeguard measures against the importation of corrugating medium paper from various countries.
In a notice published on the tariff body’s website, TC noted that a Preliminary Conference is scheduled on September 5.
“Matters for discussion would include the timelines, nature of investigation, appearance of counsel and parties, number of witnesses, notification, accessibility of documents and public file, confidentiality of information, submission of position papers and memoranda, conduct of onsite inspection and data verification, schedules of public hearing and other activities, and other topics that may aid in the prompt disposition of the case,” the TC Notice read.
delivery of monthly electronic food vouchers to 750,000 food-insecure households nationwide.
Apart from receiving the food vouchers, the beneficiaries will attend monthly sessions aimed at promoting positive nutrition-related behaviors and addressing knowledge gaps to reduce both malnutrition and poverty.
The project also seeks to enhance the government’s implementation capacity and strengthen systems for shock-responsive social protection, ensuring timely assistance to households during disasters and economic shocks.
The tariff body said it began the formal investigation last August 27 on the merits of imposing such measure against importations of corrugating medium paper from various countries, following receipt of the request from the Secretary of Trade and Industry and the complete case records.
This was published on the website of the country’s tariff body on the same day a lawmaker divulged the woes besetting the paper industry during the budget hearing for the Department of Trade and Industry’s (DTI) 2026 National Expenditure Program (NEP).
During the DTI’s budget hearing before the House Commitee on Appropriations, House Deputy Majority Leader Jose Teves Jr. noted that the local paper industry has been “slowly
NGCP brings environmental protection initiative to Bohol, inks MOA with DENR, LGUs for forest plantation project
estation and environmental sustainabil
By Ada Pelonia
period. NGCP President and CEO Anthony L. Almeda represented the company during the MOA signing, underscoring its commitment to supporting reforestation efforts that address both environmental protection and community development. “This MOA seeks to support refor-
IN PHOTO (from left to right) : Mr. Paquito D. Melicor, Jr. - Regional Executive Director, DENR Central Visayas, Mr. Anthony L. Almeda - President, NGCP, Sec. Raphael Lotilla - DENR, Rizaleo C. Gahit - Chairman, BWSMPC
FROM LILIES TO KANDULI A lone fisherman removes water lilies along the shores of Laguna Lake near the Parola boundary in Tanay. He hopes for a good catch of kanduli (marine catfish) in the brackish waters following recent rains. JOEL C. PAREDES
Editor: Jennifer A. Ng
Companies
BusinessMirror
B1 Friday, August 29, 2025
ACEN expanding in Australia
By Lenie Lectura @llectura
SYDNEY, Australia—ACEN Corp. is expanding its renewable presence in Australia, possibly hitting 2,000 megawatts (MW) more of new projects in the next few years.
“ACEN Australia is building a strong and diverse portfolio that covers wind, solar, pumped hydro and battery storage. We currently have more than 1,000 MW of renewable capacity already in operation, with 200MW under construction and over 2,000MW we expect to put into construction in the next three years,” said Jose Maria Eduardo P. Zabaleta, ACEN Corp. managing director and ACEN Australia Pty. Ltd. executive chairman.
The Ayala group’s listed energy platform, ACEN is one of the fastestgrowing renewable energy platforms
in Asia Pacific, with the Philippines as its core and largest market, accounting for 35 percent of its capacity. Aside from Australia, It also has significant presence in Vietnam, India and Lao PDR, along with strategic investments in Indonesia and other markets. The company currently has about seven gigawatts of attributable renewable energy(RE) capacity spanning projects in operation, under construction and with signed agreements.
ACEN Australia has a diverse portfolio if solar, wind, pumped hydro and battery projects in opera-
tion and under construction across the National Electricity Market. “ACEN Australia has an extensive development pipeline across the National Electricity Market. This positions ACEN to help achieve Australia’s energy transition objectives and reflects our long-term goals and commitments,” added Zabaleta.
The 1,000MW RE capacity consists of the 400-MW alternating current (ac) New England Solar, 400MWac Stubbo Solar in New South Wales and 200MWhour battery energy storage system (BESS).
The New England Solar is being built in stages near Uralla in the NSW New England region. The project sits across a 2,000 hectare site of mostly cleared grazing land, traverse by an existing 330kV power line owned and operated by TransGrid.
The New England BESS project is set to be operational by 2026. Once completed, the New England BESS could be Australia’s largest co-located solar and battery storage facilities that provide stored energy to the
grid. The BESS captures energy from power plants or the grid and stores it for later use.
Stubbo Solar, meanwhile, is a large scale solar project approved by the NSW Department of Planning, Industry, Environment in July 2021. It is currently under construction across 1,250 hectares mostly cleared grazing land in the Central West region of NSW.
Meanwhile, the projects in the pipeline are the 900MWac Valley of the Winds, 600MWac Birriwa Solar and the 600MWh Birriwa BESS.
ACEN Australia aims to contribute to Australia’s clean energy transition by developing and operating renewable energy projects
The company intends to scale up its attributable renewables capacity to 20 GW by 2030 from the current 6.8 GW capacity across operational, under-construction and committed projects. These are located in the Philippines, Australia, Vietnam, India, Indonesia, Laos and the United States.
Ovialand H1 income up on sales, demand
By VG Cabuag @villygc
OVIALAND Inc. disclosed last Thursday that its consolidated net income for the first half of the year rose 37 percent to P420 million on the back of strong sales and continued demand for its premium-affordable homes in Laguna and Bulacan.
The boutique housing developer’s revenues increased 20 percent to P1.14 billion, selling 364 units, from the previous year’s P949.09 million at 305 units, it said.
Homes turned over increased by 19 percent vs the same period last year, showing Ovialand’s increasing annual production capability.
KCC, Biotech Farms tap Berde for power supply
By Lorenz S. Marasigan @lorenzmarasigan
BERDE Renewables Inc. announced it has inked an 8.4-megawatt peak (MWp) solar power purchase agreement (PPA) with KCC Malls operator Koronadal Commercial Corp. (KCC) and agribusiness firm Biotech Farms Inc.
The deal, structured under a zero-capex model, will allow Berde Renewables—a portfolio company of global infrastructure investor I Squared Capital LLC—to finance, build, operate, and maintain rooftop and ground-mounted solar systems for KCC Mall Gensan, KCC Mall Marbel, KCC Mall Zamboanga, and Biotech Farms’s agro-industrial facility in South Cotabato.
Once operational, the systems are projected to generate about 13 million kilowatt-hours (kWh) of renewable energy annually, translating to around P5.8 million in monthly energy savings and avoiding nearly 9,600 tons of carbon dioxide emissions each year.
“This partnership shows how industries can work together to make renewable energy deliver real economic value and lasting impact for communities,” Patrick Zhu, President and Co-founder of Berde Renewables, said last Thursday.
KCC CEO Arvin T. Chan said tap -
ping RE has become a “core part” of the company’s “growth and modernization thrust.”
“By integrating clean energy into our operations, we are elevating our standards in retail sustainability while ensuring that our malls remain resilient, efficient, and aligned with the long-term needs of the communities we serve,” he said. Biotech Farms Director Rainnyl Chiang, meanwhile, highlighted how the agreement supports its pursuit of circular economy practices.
“Adding solar energy to our agroindustrial facility further strengthens our commitment to circular economy principles while ensuring stable, cost-efficient power for our business,” Chiang said.
Berde Renewables has so far built 45.7 MW of solar projects in the Philippines, with 31 MW under construction and a pipeline of 144 MW in development.
Beyond the country, it is also expanding its footprint in Southeast Asia, with a 300 MW pipeline in Thailand.
BDO streamlines SME financial operations with Cash Management
By Vincent Peter Rivera
LAUNCHING a business is a serious undertaking that demands significant investment in time, energy, and money. While establishing a business is a major accomplishment in itself, sustaining and managing it— particularly its finances and cash flow—is even more crucial for longterm success.
BDO, a leading full-service universal bank in the Philippines, has always prided itself in being a companion to businesses, specially to Small and Medium-sized Enterprise (SME), by offering specialized loan products and financial services with digital innovations to promote inclusivity.
Among these is the Cash Management Services (CMS), which automate key financial processes such as payroll, collections, and disbursements, enhancing cash flow visibility, reducing manual errors, and boosting operational efficiency—allowing businesses to focus on growth.
It simplifies the movement of money from collection to payment, helping SMEs manage cash flow more effectively and reduce reliance on manual processes.
“The SME sector is a vital engine of economic growth in the Philippines and we actively support their development through tailored financial solutions and inclusive banking strategies,” Grace Caguioa, Senior Vice President and Head of SME, Cash Management Services, told BusinessMirror.
Echoing this perspective, Senior Vice President and Head of Cash Management Services Carlo B. Nazareno pointed out that BDO’s Cash Management Services are not meant for SMEs to simply survive but rather scale and grow.
“For BDO, supporting SMEs goes beyond keeping them operational—it’s about helping them unlock their next stage of growth,” he said. “Through Cash Management Services, BDO enables SMEs to shift from manual, time-consuming processes to digitized, scalable operations that drive efficiency and business agility.”
With the common cash management issues faced by SMEs today, BDO’s Cash Management
Services (CMS) provides a direct solution through streamlining and operational tools. These include BDO Business Online Banking (BOB), the Payroll Package, and Check Writing Services, which help businesses combat inefficiency in payment and collection, delays in accessing timely information, and unpredictable cash flow.
Caguioa cited an example: “Imagine a bakeshop café owner named Julia. Business Online Banking lets Julia monitor her cash flow, pay bills, and transfer funds anytime—like having a financial dashboard on her computer or phone. The Payroll Package automatically credits salaries to her staff’s BDO accounts, even on weekends, saving hours of manual work. The Check Writing Service helps Julia pay suppliers with printed checks that are accurate and easy to track, avoiding errors and delays.”
Personalized and user-friendly innovation
Since the roll-out of SME Cash Management solutions in 2016, BDO has seen a tenfold increase in annual CMS sign-ups for its SME sector, highlighting both the effectiveness of its outreach and the services’ relevance.
Despite growing demand, BDO continues to offer tailored solutions that align with each SME’s unique needs, helping businesses streamline operations, improve cash flow, and achieve sustainable growth.
“We consider their business size, transaction volume, and industry-specific requirements. For example, retail businesses may prioritize faster collections, while manufacturers may focus on supplier payments,” Caguioa elaborated. “This personalized approach ensures that SMEs receive relevant and practical solutions, not generic
recommendations.”
To reinforce this tailored approach, BDO conducts educational forums where business owners can actively participate and relate the solutions to their own operations.
“These sessions help entrepreneurs visualize time and cost savings in a real-world context,” Caguioa explained.
Hands-on onboarding and training with dedicated officers are also provided—complemented by reference guides and video tutorials—for continued learning and ease of use.
She added: “BDO ensures ongoing support and troubleshooting through dedicated customer service teams, so SMEs never feel left behind after signing up.”
Complementing this, BDO also makes significant investments in its IT infrastructure to support digital adoption.
Nazareno highlighted that BDO has enhanced security protocols and strengthened data privacy protection across all CMS tools and systems, stating, “These efforts ensure that SMEs can operate confidently in a secure digital environment.”
Nazareno also noted that BDO has transformed CMS from a simple productivity tool into a vital business continuity platform.
“It plays a critical role not only during crises but also in helping SMEs stay competitive in an increasingly digital economy,” he added, emphasizing that physical channels remain available alongside digital options, giving SMEs the flexibility to choose the most convenient and effective way to manage their operations.
Future innovations
As the financial needs of SMEs rapidly evolves, Nazareno assured its
Services
customers that the bank is guided by ongoing feedback from business owners through forums and consultations to continually enhance its Cash Management Services (CMS) with a focus on integration, speed, and accessibility.
A key area of improvement includes expanded mobile-first capabilities, allowing entrepreneurs to manage their finances seamlessly while on the go. This ensures that tasks like approving payments, monitoring cash flow, and processing transactions can be done anytime, anywhere.
“BDO is strengthening its payment and collection channels by leveraging its extensive branch network, on-site collection machines, expanded cross-border payment options, and QR Ph-based solutions,” he added.
These enhancements enable faster, more flexible transactions across a wider range of platforms, ultimately supporting SMEs in operating more efficiently and competitively.
“Digital transformation isn’t just about technology—it’s about giving yourself the freedom to focus on what truly matters: growing your business, serving your customers, and building a future. The first step may be small, but it’s the beginning of something big,” Nazareno concluded.
Banking&Finance
DOF crafting enhanced climate finance scheme
HE Department of Finance
T(DOF) is crafting an enhanced climate-disaster risk finance and insurance (CDRFI) mechanism to expand the country’s access to pre-arranged funding and ease fiscal burdens from losses and damages.
A statement issued by the DOF last Thursday read that the finance department has partnered with the G7-backed organization Global Shield Secretariat and with the Institute for Climate and Resilient Cities (ICSC) to establish the enhanced CDRFI mechanism for the Philippines.
DOF Chief of Staff and Undersecretary Maria Luwalhati DorotanTiuseco said the initiative seeks to provide “proactive solutions” backed by Global Shield financing vehicles. These solutions are expected to bolster the country’s financial defenses against the adverse effects of climate change and mitigate loss and damage, particularly for the most vulnerable sectors, Dorotan-Tiuseco added.
“By investing in CDRFI tools, we are not just bracing ourselves for the next storm––we are making an investment in long-term economic stability,” she said during the Global Shield Country Workshop on August 13.
The Philippines already implements contingent financing facilities, quick response funds and sovereign insurance under its 2015 Disaster Risk Finance and Insurance (DRFI) Strategy.
The DOF, however, noted that a gap remains in establishing CDRFI as a cost-effective and accessible mechanism to address climate-related losses and damages faced by vulnerable people and communities.
“It is important to note that this is not a new strategy on its own. The Global Shield project will complement and be integrated into our
Busy as a Bee:
broader national efforts,” DorotanTiuseco said.
The Global Shield against Climate Risks, a joint initiative of the Group of Seven countries and the Vulnerable Twenty Group of Finance Ministers (V20), is created to strengthen financial protection in climate-vulnerable countries through pre-arranged financing solutions.
German Ambassador to the Philippines Dr. Andreas Michael Pfaffernoschke expressed support for the in-country process, citing the role of pre-arranged finance in reducing fiscal impacts from climate and disaster shocks.
Germany, as part of the G7, is among the key funding partners of Global Shield Against Climate Risks.
The workshop convened stakeholders from government, civil society, non-government organizations, private sector, academe and bilateral and multilateral development partners to identify priority areas for scaling up pre-arranged finance solutions.
Among the recommendations were the expansion of parametric and micro insurances, full utilization of local government units’ disaster response funds for anticipatory financing.
The DOF, as the national authority on mobilizing climate finance, is currently developing the Philippine Climate Finance Strategy and updating the DRFI Strategy to ensure funding adequacy for climate adaptation and disaster response.
“Resilience is not defined by the lack of vulnerability, but by our capacity to withstand shocks and adapt well in the face of adversity. There will always be challenges over the horizon, but with a strategic approach, we will overcome them,” DorotanTiuseco said. Reine Juvierre S. Alberto
The
Rhythm of Association Management
IREAD stories to my seven-year-old granddaughter before sleeping as part of my daily routine. In one of our storytelling sessions, we encountered the idiom “busy as a bee” so I had to explain it to her in simple terms: “like a bee buzzing around.” The phrase “busy as a bee” means being very active and hardworking, being constantly engaged in tasks with focus and energy. It draws from the image of bees tirelessly flying from flower to flower, gathering nectar, building hives and supporting the colony.
In the world of associations, where activity levels often peak year-round, being busy as a bee aptly captures the spirit and rhythm of association management. Association professionals and volunteer leaders are no strangers to nonstop movement. From planning conferences and managing membership programs to advocacy work, governance, publications and partnerships, there’s always something happening behind the scenes. Like bees in a hive, association teams operate with purpose, often balancing multiple responsibilities that demand both attention to detail and a view of the bigger picture. Being busy as a bee in the association space is more than just being in constant motion; it’s about meaningful, missiondriven work. Every email sent, event coordinated, or policy drafted contributes to something larger: building communities, advancing professions and addressing collective challenges. Much like bees contributing to the survival and growth of their hive, association professionals help strengthen the ecosystem their members rely on.
One of the hallmarks of successful associations is the culture of industriousness. It’s not unusual to find staff members juggling logistics for an upcoming summit while onboarding new members and preparing a grant proposal, all in a single week. Board members, many of whom are volunteers, dedicate their evenings and weekends to strategic planning, fundraising and mentoring.
This high level of engagement, though demanding, often stems from passion for the mission and a deep sense of purpose.
DOF less keen on mandatory system in carbon credit trade
By Reine Juvierre Alberto @reine_alberto
THE Department of Finance (DOF) is pushing for a voluntary carbon market (VCM) in the Philippines, as it targets to complete the policy and legal framework for trading carbon credits within the year, a DOF official told the BusinessMirror.
Finance Undersecretary Maria Luwalhati Dorotan-Tiuseco told the BusinessMirror that a finalized policy and legal framework for Carbon Markets on a VCM could be issued by the Interagency Task Force on Sustainable Finance (ITSF), co-chaired by the DOF, this year.
Dorotan-Tiuseco said the DOF supports VCM, a pricing mechanism that allows individuals, companies and organizations to voluntarily buy
and sell carbon credits to offset their greenhouse gas emissions, rather than a mandatory system.
The DOF also continues to coordinate with the World Bank for its support for the Technical Working Group on Carbon Pricing Instruments to consider the socio-economic impacts to ensure that the carbon policy will be non-inflationary, conducive for investment and well-suited for the country.
Dorotan-Tiuseco recently discussed the Philippines’s decarbonization roadmap and sustainable development agenda with Ravi Menon, Singapore’s Ambassador for Climate Action.
The Philippines is eyeing the use of blended finance and carbon markets to achieve both decarbonization and development in the country.
According to Menon, various initiatives are before the legislature as the Philippines ramps up its commitment to grow the carbon market to generate carbon credits and support decarbonization efforts, bring developmental benefits to the communities involved in these projects and bring in new investments.
“We’re both convinced that carbon credits can offer a very good channel of financing for projects that would otherwise not take place,” Menon said in a video posted on the DOF’s Facebook page.
Dorotan-Tiuseco said the Philippines is looking forward to strengthening its collaboration with Singa-
pore on climate action.
“Among others, this partnership includes ongoing work on blended and sustainable finance, which we believe plays an important role to achieve our national and regional goals and establish a more robust and coordinated climate action in the region,” Dorotan-Tiuseco told the BusinessMirror.
The DOF official said the PublicPrivate Partnership (PPP) Code enables Green Financing for projects, covering investments that create environmental benefits; support low-carbon, carbon avoidance and sustainable development; and tap alternative assets such as carbon credits, under Article VI of the Paris Agreement or ecosystem services.
“By leveraging our combined strengths, we can unlock new avenues for green investment, accelerate the development of innovative financial instruments, grow carbon markets, and create a more resilient and sustainable future for Southeast Asia and beyond,” she added.
Crypto’s new order: What US policy means for global finance and Filipino communities
By signaling it will nurture, not just police, digital assets, Washington is reshaping the global financial landscape. For the Philippines, where remittances are lifelines and fintech is growing, US leadership could unlock cheaper transfers, stricter compliance models and stronger legitimacy for local blockchain innovation.
By Troi Santos
Special to BusinessMirror
NThe metaphor also highlights collaboration. Bees do not work in isolation; their roles are interconnected and their success depends on coordination and communication. In the same way, association management thrives when staff, members, volunteers and stakeholders operate in harmony, sharing knowledge and supporting one another.
Whether it’s pulling off a seamless event or launching a new advocacy campaign, the behind-the-scenes teamwork is what makes visible achievements possible.
That said, being busy as a bee also carries a cautionary note. Constant busyness without moments of reflection, rest, or strategic alignment can lead to burnout and inefficiency. Association leaders must recognize the difference between being busy and being productive. Like a well-run hive, association operations need rhythm, structure and purpose, not just activity for activity’s sake.
To support sustainable busyness, successful associations invest in systems, processes and a strong culture. They prioritize member value, delegate effectively, use technology wisely and revisit their strategic plans regularly. This allows them to channel their collective energy into efforts that truly matter, rather than simply keeping up with the pace.
In the end, being busy as a bee in associations symbolizes more than a packed schedule, but reflects a commitment to shared goals, a spirit of collaboration and an unwavering drive to serve.
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 13th Annual Associations Summit on November 6, 2025 at the Clark Freeport Zone. The views he expressed herein do not necessarily reflect those of the BusinessMirror E-mail: bobby@pcaae.org.
EW York City—The digital economy has reached a critical inflection point. After years of hesitation, fragmented frameworks and “regulation by enforcement,” the United States has declared itself open for business in digital assets. Through new executive orders, landmark legislation and agency coordination, Washington is positioning itself as a global leader in crypto regulation and compliance.
In a briefing organized by the Foreign Press Center New York (FPCNY) in the Office of Crowell & Moring LLP at Two Manhattan West, three authoritative voices explained how this pivot will shape global finance: Ron Quaranta, Chairman and CEO of the Wall Street Blockchain Alliance (WSBA); Joshua Ashley Klayman, US Head of FinTech and Head of Blockchain & Digital Assets at Linklaters; and Carlton Greene, Partner at Crowell & Moring LLP.
Collectively, their backgrounds span capital markets, international law and US Treasury enforcement. Collectively, their message was unambiguous: the US has shifted from policing crypto at the margins to building its rules at the center of global finance.
Trump’s EO
QUARANTA has been shaping this conversation for nearly a decade.
As head of the WSBA, he leads a nonprofit trade association that convenes global banks, brokers, law firms, fintech innovators and regulators to advance blockchain adoption. He has more than 30 years of experience in financial services and technology, including as CEO of DerivaTrust Technologies and is author of “Blockchain in Financial Markets and Beyond.”
Under his leadership, the WSBA has become a translator between the cryptic language of developers and the statutory frameworks of policymakers.
“Our mission has always been to foster a balanced conversation between innovators, regulators and the financial sector, because the future of digital assets will depend on collaboration, not isolation,” Quaranta said.
He highlighted a “180-degree turn” in policy since January, when President Trump signed Executive Order 14178, “Strengthening American Leadership in Digital Financial Technology.” The order directed agencies to accelerate rulemaking, coordinate more closely and—most significantly—prohibited federal agencies from establishing, issuing, or promoting a US central bank digital currency (CBDC). Instead, innovation was left to the private sector under regulatory guardrails.
Quaranta stressed that this was more than legal housekeeping: it signaled to global markets that the US was no longer ambivalent about crypto’s place in finance.
Regulatory whiplash
KLAYMAN, meanwhile, represents the legal bridge between Wall Street’s skyscrapers and crypto’s start-ups. She is widely regarded as one of the world’s most prominent blockchain lawyers, leading Linklaters’ US FinTech practice and serving as Head of Blockchain & Digital Assets. Her firm, one of the Magic Circle of elite international practices, advises investment banks, corporations and governments across 30+ jurisdictions.
Klayman co-founded a blockchain practice at her prior firm, launched her own consultancy and now guides clients ranging from crypto-native innovators to Fortune 500 companies. She also chairs the WSBA Legal Working Group and cofounded the Diversity in Blockchain Inc. Her observation captured the mood: “For the first time, perhaps since the beginning of the digital assets space, the United States has opened for business for crypto.” For her, this is not just rhetoric but regulatory fact.
The administration created a White House “AI and Crypto Czar” to place digital assets alongside artificial intelligence as strategic technologies.
Congress also passed the “Guiding and Empowering National Innovation in US Stablecoins,” or “Genius,” Act. Signed on August 5, 2025, the Genius Act establishes prudential requirements for stablecoin issuers: high-quality liquid reserves, redemption rights at par, independent audits and clear federal-state supervisory coordination. The act also clarified that qualifying payment stablecoins are not securities.
For Klayman’s multinational clients, this clarity is transformative. For the first time, companies can launch or scale stablecoin operations in the US without fearing regulatory whiplash. The SEC’s Project Crypto—launched under Chairman Paul Atkins—and the creation of a dedicated Crypto Task Force led by Commissioner Hester Peirce have replaced ad hoc enforcement with structured dialogue. The CFTC has rolled out its Crypto Sprint initiatives, engaging with industry on market structure and derivatives oversight. Klayman emphasized that clarity itself is opportunity: it enables innovation without the constant shadow of enforcement risk.
Ongoing dialogue GREENE brought the perspective of enforcement.
A partner at Crowell & Moring LLP, he co-chairs the firm’s Financial Services Group and advises banks, exchanges and fintech firms on compliance with antimoney laundering (AML), sanctions and digital asset rules. His credibility comes from 15 years in government, including as Chief Counsel at the Financial Crimes Enforcement Network (FinCEN) and senior roles at the Office of Foreign Assets Control (OFAC). He helped draft early
crypto guidance at FinCEN and was later appointed by the UN Secretary-General to advise the Security Council on sanctions. Greene’s reminder was blunt: “Illicit activity is illicit activity and regulations develop to ensure against that where it can possibly lead.”
While the US is encouraging innovation, agencies like the DOJ, the FinCEN and the OFAC remain intent on preventing crypto misuse by drug cartels, sanctioned states, or terror groups. Compliance is not an afterthought but a cornerstone of legitimacy.
The policy landscape has shifted dramatically in 2025. Alongside the Genius Act, the Digital Asset Market Clarity Act advanced in the House of Representatives in July, delineating jurisdiction between the SEC and the CFTC. While final enactment awaits the Senate, the legislation is already influencing how companies approach token classification. The SEC’s Project Crypto is modernizing disclosure requirements for tokenized assets, while the CFTC’s Crypto Sprint is testing pathways for derivatives and spot-market regulation.
Stablecoins were at the heart of the discussion. Once derided as “shadow money,” they are now recognized as the most practical bridge between traditional finance and blockchain. The Genius Act codifies this by demanding that reserves be held in high-quality assets like Treasuries and cash, linking stablecoin growth to US financial stability.
Quaranta noted that institutional players are preparing to issue or integrate stablecoins into payments. Klayman stressed that innovation is happening within guardrails, not in a regulatory vacuum. Greene highlighted that US banks remain cautious, worried that interest-bearing stablecoins could drain deposits, but he noted that dialogue with regulators is ongoing.
Greene underscored the national security stakes: sanctions enforcement depends on the dollar’s primacy and digital assets could either reinforce or erode that dominance. Klayman added that US frameworks will likely shape how allies— from the EU to Asia—structure their regimes, making Washington a benchmark for global compliance.
Initiatives in PHL FOR the Philippines, the briefing carried direct relevance. The Bangko Sentral ng Pilipinas (BSP) reported $34.49 billion in cash remittances in 2024, with personal remittances higher. These flows sustain millions of households. Stablecoins, if issued under US law with clear redemption and compliance standards, could significantly reduce transaction costs for overseas Filipino workers (OFWs) in the US. The BSP has been regulating Virtual Asset Service Providers (VASPs) since 2017. In 2022, it imposed a three-year moratorium on new VASP license applications to refine oversight. The Philippine SEC, meanwhile, rolled out Crypto-Asset Service Provider (CASP) Rules in 2025, strengthening investor protection and AML requirements. With the US now codifying stablecoin standards, Philippine regulators may
take Washington’s lead. This could mean stricter KYC rules, tighter AML monitoring and higher standards for custody and reserves.
The BSP is also piloting Project Agila, its wholesale CBDC proof-of-concept, which concluded testing in December 2024. While Manila explores CBDCs, Washington has gone the opposite route, prohibiting federal CBDC initiatives. The contrast underscores a choice: adopt a state-led model similar to China or align with the US in supporting private stablecoins under regulation. Given the Philippines’s close economic and security ties to Washington, alignment with US frameworks seems more likely. For Filipino startups, this creates opportunity. Venture capital firms are more likely to fund companies that meet US standards, knowing they can scale globally. For consumers, US-aligned compliance will mean safer access to wallets and exchanges. For regulators, it means pressure to keep pace with Singapore and Hong Kong, which are actively positioning themselves as crypto hubs.
Shared priority THE panel framed crypto as the foundation of an “internet of value.” Just as the internet transformed information exchange, blockchain is reshaping value transfer. Quaranta described how banks are building custody solutions and accounting firms are preparing audit frameworks for tokenized assets. Klayman emphasized the role of user experience in mainstream adoption. Greene noted that regulators now deploy blockchain analytics tools to trace illicit flows, giving them confidence to allow innovation without sacrificing security. The bipartisan nature of US regulation was another theme. Both Republicans and Democrats have advanced legislation, signaling that crypto clarity is a shared priority. Klayman observed that once projects and institutions adopt blockchain, reversing course becomes increasingly difficult. Greene added that the coexistence of federal and state regulatory paths offers resilience against political swings. The briefing underlined how the US has moved from fragmentation to leadership. Through laws like the GENIUS Act, executive actions such as EO 14178 and agency projects like SEC’s Project Crypto, Washington has created an environment where innovation and compliance advance together. For Quaranta, Klayman and Greene, the convergence of regulation, law and enforcement is not an endpoint but the groundwork for what lies ahead. The US is not only regulating crypto, it is defining how it will enter the mainstream of global commerce. For the Philippines, that definition carries weight. It promises cheaper remittances, stronger compliance standards, greater legitimacy for fintech innovation and a clearer path to align with international capital. Crypto may be borderless, but the rules written in Washington will shape how it reaches Manila, Cebu and every OFW household that depends on money sent home.
Octavio Peralta
A ssociation World
From court to cocktails: Filipinos shine on world stage
FILIPINA tennis superstar Alexandra “Alex”
Eala has fired up our nation’s spirit with her recent win at the US Open, the first time any one of our kababayan has reached those tennis heights.
The 20-year-old, honed by hard work and suffused with grit, has been having a great year. Just this March, she mowed down three grand slam champions—Madison Keys, Jelena Ostapenka and, lastly, Iga Świątek—at the Miami Open.
This allowed Alex to reach the WTA (Women’s Tennis Association) 1000 semifinals, again, the first Filipina to do so. She later reached her first WTA final in the Lexus Eastbourne Open in June, though she valiantly lost to Australia’s Maya Joint.
Alex, the prodigy who started playing at four years old, went on to another first—making a stand at the Center Court at the Wimbledon Championships last month. She, however, bowed out to Czech Barbara Krejcikova but still a winner in many of our hearts.
By Eugenia Last
Wherever she goes, Alex, trained at the Rafa Nadal Academy, carries our flag proudly. After winning her first US Open match versus the No. 14-seeded Clara Tauson of Denmark, Alex told reporters: “I take so much pride in representing my country. It makes what I do bigger than myself, and it adds meaning to what I do.”
That the US Open is held in Flushing Meadow, which is near Little Manila—an enclave of FilipinoAmericans—is just another luck of the draw for Alex. They came out noisily for her, carrying their Philippine flags, cheering each game, set and, finally, match point.
The on-court reporter noted their overwhelming support, to which Alex replied: “It’s so special. They make me more and more special. To be Filipino is something I take so much pride in. I don’t have a home tournament, so to be able to have this community here at the US Open, I’m so grateful they made me feel like I’m home.”
Although she lost Thursday’s match against Cristina Bucsa of Spain, ranked no. 95 in the world, Alex didn’t do so miserably. She just had a lot of unforced errors and was a bit slow in running (or not running at all) after some key shots—a common issue I noticed in her matches. More training will hopefully get rid of some of her bad habits. At just 20 years old, Alex, ranked no. 75, isn’t going anywhere. She has more tournaments to play and more opponents to conquer. That is something we tennis lovers eagerly look forward to. Good luck and more topspin power to you, Alex!
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ANOTHER historic win for the Philippines is Destileria Limtuaco, which recently snagged top prizes at the World Drinks Awards 2025, held in London.
Four products from the company’s flagship Philippine Craft Spirits line were recognized specifically under the World Liqueurs Awards category, for excellence in taste, concept and innovation—solidifying the brand’s position as a pioneer in the global liqueur scene.
Intramuros Liqueur de Cacao, described as a silky,
brandy-based chocolate liqueur made from fermented roasted cacao beans, took home the title of World’s Best Chocolate Liqueur. Judges praised its “complex nutty and roasted cacao notes” and its refined creamy mouthfeel.”
The zesty Manille Liqueur de Calamansi won Gold and was also named Country’s (Philippines) Best in the Fruit Liqueur category, thanks to its vibrant citrus blend with hints of vanilla and white pepper—a bold Filipino flavor profile that resonated with the judges.
For coffee lovers, the Amadeo Coffee Liqueur was awarded Country’s (Philippines) Best Coffee Liqueur. This rum-based blend of four Philippine-grown coffee beans was lauded for its sweet intensity, with flavors of pipe tobacco and warm wood spice.”
The newest addition to the brand’s lineup, Cocohogo Coconut Cream Liqueur, received Bronze in the Vegan Alternative (Philippines) category. Its delicate combination of coconut cream, flesh and milk provided a rich, dairy-free indulgence.
These awards reflect the spirit of what we do,” said Olivia Limpe-Aw, President and Master Blender of Destileria Limtuaco.
“We take pride in using native ingredients and transforming them into world-class expressions of Filipino identity,” she told guests attending the cocktail event at the company’s museum in Intramuros to celebrate their win.
Established in 2000, the Philippine Craft Spirits line has introduced unique local flavors to the global market—gaining traction not only for its product excellence but also for its story of heritage, innovation and national pride.
For the sixth-generation master blender of the oldest distillery in the Philippines, this international recognition is a significant starting point for the brand’s debut in the global scene.
“This award validates the vision we had when we created Cocohogo—a fitting vegan alternative for cream liqueur that showcases the richness of our local ingredients and Filipino craftsmanship. This product just proves that the tradition of excellence
and innovations in liquor-making can coexist in every bottle we make,” shared Aaron James Limpe-Aw, the company’s Executive Vice President, and the one who led the product and brand development of Cocohogo.
He recently debuted Cocohogo at the Tagaytay Food Festival, wowing guests with his Easy Piñacolada. (See Why chefs keep opening restaurants in Tagaytay, in BUSINESSMIRROR, August 1, 2025.)
The World Drinks Awards is a distinguished award-giving body that celebrates the best beverages in the world including alcoholic drinks, with criteria ranging from taste to packaging and judged by industry experts from across the globe. One of its subcategories, the World Liqueur Awards, specifically recognizes the best liqueurs in the world based on criteria under various sub-categories.
Today, these award-winning liqueurs are enjoyed not only in the Philippines but also across borders, thanks to Destileria Limtuaco’s growing export presence and global distribution efforts.
I’ve personally tasted all these top-notch liquers of Destileria Limtuaco, which I keep in stock in the event of instant get-togethers with family or friends.
The Amadeo Coffee Liqueur, for instance, lifts any vanilla ice-cream topped coffee jelly dessert, with just a little pour. I’ve also used the Intramuros Liqueur de Cacao in my homemade tiramisu, by dipping the lady fingers in it, to be used as the dessert’s base.
Just a shot of the Manille Liqueur de Calamansi with tonic water also offers a nice, refreshing drink. And I’ll be sure to be using the Cocohogo soon to mix up a nice piñacolada.
All these liqueurs are currently available in retail stores including Kultura, Duty-Free Philippines, and The Marketplace, and can be ordered online through www.liquorexpress.ph, Shopee and Lazada. The Cocohogo Coconut Cream Liqueur will be rolling out nationwide soon, said Olive, still glowing from the company’s triumph.
These multiple wins are testaments to our great Filipino heritage, innovation and unique flavors. Our hearty congratulations to Destileria Limtuaco.
yourself and refuse to let your emotions dictate what happens next. A state of calm will allow you to position yourself for whatever comes your way and deal with circumstances as they unfold. Be smart and make the gains that matter. Strength begins with believing in yourself. ★★
VIRGO (Aug. 23-Sept. 22): You will make strides if you participate in something new and exciting. A little flash and charisma will carry you forward and attract those who have something to offer. High energy will take you to victory and give you the wherewithal to improve your life, current situation or prospects. Selfimprovement will pay off. ★★★★
LIBRA (Sept. 23-Oct. 22): Pay attention to where your money goes. You’ll gain ground if you fish for higher positions and advancement using your imagination and insight to talk your way to the top. Don’t sit at home procrastinating when getting out and having face-toface talks will bring the most effective results. Apply charm and pressure. Romance is favored. ★★★
SCORPIO (Oct. 23-Nov. 21): It’s not what you do or say; it’s how you turn your dreams into a reality. Push for what you want, and be relentless when dealing with those who oppose you. Know what’s best for you, and stick to your course of action until you’re satisfied with the results. Take responsibility and make things happen.
SAGITTARIUS (Nov. 22-Dec. 21): Stick close to home, iron out any confusion or conflict you face and rationalize how you want to move forward. Use your voice, wisdom and physical ability to emphasize your position and expectations, and you’ll weed out the people who are best suited to tag along on your adventure. ★★★
CAPRICORN (Dec. 22-Jan. 19): Consider what it takes to get to the next level. Whether you’re dealing with physical, mental or financial challenges, understanding your attributes and how to apply them will lead to success. Assess, refine and implement
Ballet, theater and symphony weave childhood tales into one stage with ‘Peter and the Wolf,’ ‘Little Red Riding Hood’
By Pauline Joy M. Gutierrez
THERE are moments in the theater when the space between the stage and the seats disappears—when hundreds of strangers lean forward as one, their skepticism undone by a cascade of music and movement that awakens a forgotten sense of childlike wonder. The opening of Peter and the Wolf and Little Red Riding Hood at The Theatre at Solaire earlier this month was one of those rare nights. The twin bill marked a historic collaboration between Ballet Philippines, Repertory Philippines and the Manila Symphony Orchestra, which, for a limited run, brought music, drama and dance together on one stage for a production made for children and the young at heart alike.
“To bring Peter and the Wolf to life on a truly grand scale, I knew Repertory Philippines couldn’t do it alone,” said REP president and CEO Mindy PerezRubio. “So I reached out to two incredible partners— Ballet Philippines and the Manila Symphony Orchestra—who, to my delight, immediately embraced the vision. This marks the first time in the country’s performing arts history that three premier institutions have come together to stage a production especially for children and underserved communities.”
The evening opened with Sergei Prokofiev’s Peter and the Wolf, directed by Jeremy Domingo and choreographed by PJ Rebullida. A classic symphonic tale, it follows young Peter, who “uses his wit, imagination and courage” to outsmart a wolf that threatens his village. Each character comes alive through the instruments in the orchestra: the bird on the flute, the duck on the oboe, the cat on the clarinet, the grandfather on the bassoon, the wolf on the horns, and Peter himself on the strings.
Children’s squeals and giggles filled the hall as Peter triumphed, their laughter rising above the orchestra like a percussion. Adults smiled along, caught up in a story they thought they had long outgrown.
Maria Ressa, usually heard in the cadence of news, softened into a playful storyteller. She paused at just the right moments, her voice tumbling and lifting with the orchestra, letting us linger on danger, then safety, and then delight. She leaned into the music’s rises and pauses, giving audiences cues to marvel, to hold their breath, and finally to cheer.
As the last notes of Peter’s victory faded, the orchestra opened a new chapter. If Peter and the Wolf was an invitation to innocence, Little Red Riding Hood felt like a dream set to movement. The stage seemed to dissolve into something more enchanted. Shadows of a forest flickered, so real you could almost smell damp
bark and hear leaves rustle.
Ballet Philippines’ dancers, choreographed by artistic director Mikhail Martynyuk, stretched and leapt with lightness and grace. The familiar tale was reborn, featuring a lyrical adagio—a dynamic duet between Red and the Wolf—and a jubilant final coda.
Underneath the delicate strings and playful rhythms of Saint-Saëns and Grieg, the story unfurled like a wisp of memory—introducing us to characters we all knew but were glad to meet again.
The Manila Symphony Orchestra, which provided the musical spine for both productions, carried the score with precision, never overpowering the performances but instead deepening every gesture and scene.
Throughout the show, what lingered was the feeling that art could be both grand and intimate: a full orchestra, a ballet company, a theater troupe, and yet what you carried home was the anticipation before the music lifted again. The sense that for one brief evening, the ordinary world receded, and in its place bloomed magic—shared, fleeting, unforgettable.
FRENCH STREAMER’S ON-AIR DEATH PROVOKES OUTCRY AS AUTHORITIES PROBE ALLEGATIONS OF ABUSE
By Sylvie Corbet The Associated Press
PARIS—The death of a French streamer during an extended broadcast has prompted soul-searching and controversy as a government minister said Raphaël Graven had been “humiliated and mistreated for months” on air and a judicial investigation delves into alleged abuse.
Graven, 46, also known as Jean Pormanove, died on Monday in Nice during a broadcast on the Kick livestreaming platform that had been running for more than 298 hours. French media reported the broadcast was interrupted soon after Pormanove’s costreamers found him unconscious and lying on a bed. Damien Martinelli, the prosecutor in the southern French city, said in a statement that the autopsy carried out on Thursday showed the death was not caused by a trauma and “not related” to the intervention of any third party. Some additional medical and toxicological analyses have been ordered, he said.
Pormanove’s death came as a judicial investigation was already underway into alleged violence and humiliations committed against him, prompted by reports from French investigative website Mediapart about what it described as the “online abuse business.” Mediapart said co-streamers were allegedly mistreating Pormanove in live broadcasts, sometimes encouraged by payments from viewers, to generate more subscriptions and money.
The investigation, opened in December, is looking into “deliberate violence against vulnerable persons” and “spreading recordings of images related to offenses involving deliberate violations of physical integrity,” Martinelli’s statement said. It did not specify why Pormanove could be considered vulnerable. The statement said two co-streamers allegedly involved in the case were briefly taken into custody in January but were released pending further investigation.
In parallel, the Nice prosecutor said, investigators interviewed Pormanove and one of his co-streamers who both appeared to be victims of violence and humiliation. They “strongly denied being victims of violence, stating that the events were staged in order to ‘generate a buzz’ and make money.”
PLATFORM BANS CO-STREAMERS
PORMANOVE’S death prompted strong reactions on social media as many users questioned the authorities’ failure to act.
Clara Chappaz, France’s digital media minister, said Pormanove’s death was “absolutely horrific” and she had contacted the platform’s managers for an explanation. “Jean Pormanove was humiliated and mistreated for months live on the Kick platform,” she said in a statement on X.
Kick said all Pormanove’s co-streamers who participated in the broadcast have been banned pending the outcome of the investigation.
“We are deeply saddened by the passing of Jean
BETRAYED
THE actress trusted a family member so much that she entrusted the management of her businesses to that person. It turns out that the family member was apparently addicted to gambling and used the money from the businesses’ bank account to finance that addiction. It’s a sad event not only because the family member is very close to the actress. The family member allegedly unlawfully gambled away tens of millions of the actress’ money. At the moment, the two aren’t on speaking terms and many wonder if they will ever be okay again. What happened is just another heartbreak suffered by actress, who is one of the nicest people in the business.
NEW LIFE
THE actress recently split from her long-time boyfriend. Their relationship survived the pandemic, a big deal considering that the non-showbiz guy does not live in the Philippines. They were still together as of July, according to sources, but rumors say the actress is dating someone again and it is said to be an actor. The break-up could be good for the actress as this means she now has more time for her career, which she sort of neglected when she was in a relationship. Her fans wish she’d make more movies or even do a teleserye as she is quite talented.
JUST FRIENDS?
THE actress is said to be dating an actor and people are happy for her because she is single anyway. The guy has been very supportive of her and her projects, even if they belong to different networks. But there are rumors the guy is gay and that his ex is a dancer. So are the actress and actor a couple, or are they just friends who support each other? To be fair, they have both said they are good friends and while they have been spotted touchy with each other, that could mean a lot of things. One thing is for sure: during a recent important industry event, they were spotted in a corner sharing a bottle of wine.
SECRET PARENTS
THE actor and the starlet have been together for a while and it’s an open secret that they have kids but they are still keeping it a secret. The starlet is said to be the cause of the separation of the actor and his wife but this has been denied even by the guy’s ex. But a recent revelation by the starlet’s family member has confirmed what everybody has suspected and known. The starlet has sidelined her career for the actor and motherhood. This is despite the actor not being rich. Many people are saying that the starlet could have done better by going for a rich guy but she is in love and that’s all that matters.
DINGDONG DANTES, CHRIS TIU, BOY ABUNDA BANNER ‘GMA MASTERCLASS: THE ‘BE JUAN TAMA’ CONVERSATION SERIES’ GMA Network’s award-winning GMA Masterclass and YouScoop+ Bootcamp series came to San Sebastian College-Recoletos (SSC-R), Manila on August 26 and 27, featuring top personalities like Dingdong Dantes, Chris Tiu, and Boy Abunda. The events, organized by GMA Regional TV and Synergy, in collaboration with Entertainment Group, aim to engage, educate, and empower the youth in the digital age. Dingdong Dantes of Family Feud Chris Tiu of i-Bilib, and top talk show host Boy Abunda of Fast Talk with Boy Abunda headlined the GMA Masterclass: The ‘Be Juan Tama’ Conversation Series on August 26 at the Bulwagang Diego Cera San Sebastian College-Recoletos (SSC-R).
The GMA Masterclass: The ‘Be Juan Tama’ Conversation Series focused on GMA Network’s “Matuto. Matuwa. Be Juan Tama.” advocacy campaign. The masterclass sought to reframe the negative persona of “Juan Tamad” into a positive “Juan Tama”—one who makes the right choices in the digital age. Through Dantes, Tiu, and Abunda, the event encouraged participants to be one in their pursuit of accurate and meaningful information for their mental, emotional, and social well-being. Also part of the event was The Clash Season 4 grand champion Mariane Osabel plus fellow Sparkle artist, GMA Synergy sportscaster and 24 Oras “Game Changer” segment host Martin Javier as the host of the event.
Pormanove and extend our sincere condolences to his family, friends, and community,” Kick said in a statement released on X. “We are committed to cooperating fully with the authorities in this process. We are undertaking a comprehensive review of our French-language content.”
‘REMOVE OBVIOUS ILLEGAL CONTENT’
ACCORDING to French media reports, Pormanove was used to take part to so-called “marathon” events on air for an extended period of time, with incentives for viewers to subscribe or make donations. He accumulated over one million followers on several video platforms, including over 192,000 on Kick.
An Australian company, Kick is a video streaming platform similar to Amazon’s Twitch, but with a much more permissive moderation policy that allows gambling activities, sexually suggestive content, or content involving humiliation or violence to be broadcast without automatic sanctions—attracting influencers banned from other platforms.
“All platforms have a legal responsibility to remove obvious illegal content of which they are aware,” Chappaz said.
Mediapart reported that a few hours before he died, Pormanove was the victim of abuse as some co-streamers slapped him and punched him several times. Martinelli, the prosecutor, said investigators conducted several interviews with people who were present at the time of
and
and
On August 27, the YouScoop+ Bootcamp was held at the Fr. Domingo Carceller, OAR, Little Theater at 1 pm. Providing valuable insights into the world of digital news and content creation were some of the most respected names in the journalism field led by GMA Integrated News (GMAIN) pillar Howie Severino.
“GMA Network is steadfast in its mission to encourage Filipinos to ‘be one’ in their pursuit of accurate and useful information, and we believe this starts with our youth. The GMA Masterclass: The ‘Be Juan Tama’ Conversation Series and ‘YouScoop+ Bootcamp’ are more than just events—they are platforms for empowerment, designed to equip the next generation with the knowledge and tools needed to navigate the complexities of our world,” said senior vice president and head of GMA Integrated News, Regional TV, and Synergy Oliver Victor B. Amoroso.
The GMA Masterclass series, which has reached over 50,000 attendees over the years, is an integral part of GMA Network’s commitment to fighting misinformation and disinformation. Meanwhile, the YouScoop+Bootcamp underscores GMA Integrated News’ dedication to fostering responsible journalism and empowering the next generation of media professionals.
Vivant reports 1H2025 core net income of P962M
Vivant Corporation (Vivant or “the Company”) (PSE:VVT) recently reported Consolidated Core Net Income (CCNI) of P962 million in 1H2025, recording an 11 percent increase from the prior year.
Adjusting for non-recurring income which includes a foreign exchange loss (net) of the Parent Company, insurance proceeds and a non-recurring cost reimbursement of certain power subsidiaries. Net Income Attributable to Equity Holders of the Parent Company stood at P959 million, nine percent higher than the level in 1H2024.
“Vivant recorded another double-digit growth in CCNI for the first half of 2025. The performance of vivant Energy Corporation (Vivant Energy), spurred by its participation in the reserve market primarily drove our earnings for the semester. Despite the lower WESM prices in the first half of the year, the team’s collective effort secured strong returns,” said Arlo G. Sarmiento, Vivant Corporation CEO.
Vivant’s energy business contributed a total of P1.4 billion to the Company’s income. Power generation represented 63 percent of the total, contributing P908 million. This was followed by the DU business which recorded P589 million in contribution. However, the retail energy segment had a P62 million loss contribution primarily due to a lower average selling price from the retail electricity supply (RES) sales in 1H2025.
Despite the lower overall volumes delivered from Vivant’s portfolio of conventional plants which saw a 21 percent decline to 1,972 GWh, the power generation business recorded a 25 percent increase in net income contribution driven by healthy margins from the Reserve Market (RM).
Four of Vivant’s plants participated in the RM, namely Cebu Energy Development Corporation (CEDC), Therma Visayas, Inc. (TVI), 1590 Energy Corporation (1590 EC), and Meridian Power, Inc. (MPI). RM nominations from these entities increased over six times year on year, as a result of the full six months of the RM operations in 2025, compared with only a month in 2024 due to a temporary market suspension.
Meanwhile, net income contribution from VECO was largely flat at P589 million. DU revenues from the three percent increase in overall energy sales volumes were offset by the combined effect of the higher operating expenses and finance costs, and an ERCmandated one-time refund to customers for unutilized regulatory related costs.
Vivant’s water business recorded a positive P93 million income contribution in 1H2025, a reversal of the P10 million loss recorded in the same period last year. This was driven by the recognition of finance income from the concession of 100%-owned IMCC.
Recall that in April 2025, a 25-year JVA was signed between VHHI and Metropolitan Cebu Water District (MWCD) to supply Metro Cebu with water from the 20 megaliter per day seawater desalination plant of IMCC.
Furthermore, income contribution from the 45 percent-owned Faith Lived Out Visions 2 Ventures Holdings, Inc. (FLOWS) increased by 13 percent to P5 million due to improved sewage operations of Puerto Princesa Water Reclamation and Learning Center, Inc. (PPWRLC) as revenues from the wastewater business increased with higher volumes and an upward adjustment in service fee per cubic meter as provided by its service contract.
Consolidated revenues recorded at P5.4 billion, three percent lower than the P5.6 billion in 1H2024. The decline was primarily due to lower revenues from the sale of power as overall volumes delivered from Vivant’s generation assets were down during the semester,
tempered by the recognition of finance income from the concession of the bulk water business.
Operating expenses increased by 33 percent to P860 million largely driven by increased headcount and higher professional fees brought about by business expansion initiatives, and higher depreciation and amortization costs due to asset acquisitions in the latter part of 2024.
Vivant’s consolidated assets stood at P32.0 billion while total equity attributable to parent was at P20.4 billion. Total consolidated interestbearing notes amounted to P7.0 billion.
Vivant’s current ratio as of the end of June 2025 stood at 2.02x versus 2.40x at year-end 2024, while debt-to-equity ratio was at 0.46x compared with 0.49x at year-end 2024.
“As we enter the second half of the year, we remain excited about the Company’s future while we aim for continued earnings growth. Our business development teams in energy and water are committed to launching impactful projects that will create solutions for our changing world,” added Sarmiento
Earlier this year, the Department of Energy (DOE) officially commenced the fourth round of the Green Energy Auction (GEA-4) with the release of the Notice of Auction (NOA). In June, the Energy Regulatory Commission (ERC) released the Green Energy Auction Reserve (GEAR) Prices for GEA-4. Thereafter, the DOE announced the timeline of activities.
In support of the government’s push for energy security and sustainability, Vivant is preparing to participate in GEA-4 as the Company builds on the momentum toward its target power generation portfolio of 30 percent renewable energy (RE) (30% by 30) capacity by 2030.
The 100 percent-owned San Ildefonso Alternative Energy Corporation (SIAEC) is a project company that will operate a 22 MW solar facility in San Ildefonso, Bulacan. Project development is underway and target commercial operations date is by the fourth quarter of 2025.
The 100 percent-owned IMCC is in the final stages of testing and commissioning of its utility scale seawater desalination plant. Completion of the plant is expected within the year.
Hotel Okura Manila Chefs Bring Home 14 Medals at the Philippine Culinary Cup 2025
WHEN it comes to sensitive skin, most people think they’ve got it figured out: until they don’t. What many still don’t realize is that sensitive skin is no longer just about occasional redness or dryness. It has evolved. Today, it’s triggered by a complex mix of stress, pollution, lifestyle choices, and climate change, making symptoms harder to decode and manage. While skincare advice is everywhere, the overload of information can often do more harm than good, especially for skin that’s already compromised.
This year, Cetaphil’s National Healthy Skin Mission (NHSM) returns with a bold reminder: “There’s More to Your Sensitive Skin.” Now in its sixth year, the campaign in collaboration with Watsons aims to go deeper, educating Filipinos on the many faces of sensitivity, from redness and irritation to rough texture and post-inflammatory pigmentation. This year’s theme is “There’s More To Your Sensitive Skin,” chosen because Galderma, as Cetaphil’s parent company, noted that most Filipinos don’t know that sensitive skin is a skin condition, not a skin type. “The Philippines is number one in ranking in terms of sensitive skin in Southeast Asia, and number six globally,” said Louie Roxas, General Manager at Galderma Philippines. “With this partnership with Watsons,
T was an inspiring showcase of skill, artistry, and teamwork from the Yawaragi and Yamazato culinary teams. Hotel Okura Manila’s culinary talents shone at the Philippine Culinary Cup 2025, earning an impressive 14 medals across 12 competing chefs, with every participant taking home an award.
Guided by Executive Chef Jerrymie Tamayo and Senior Pastry Chef Vi Serrano, the team’s PCC journey was steered with dedication and precision by Sous Chef Matet Projimo, who served as the hands-on mentor for all participants.
The hotel’s first gold of the competition came from Chef Sean Oblena, whose Bread Showpiece entry, Elysium no Mori, captivated the judges. Meticulously crafted over three months of after-hours work in the hotel’s back kitchens, the piece was assembled bread-by-bread, detail by detail. Judges praised the miniature lion statues guarding the entrance (each no bigger than a thumb) and the terrace “sand” formed from carefully placed breadcrumbs.
The second gold came from Chef Jenny Tanay in the French Touch Challenge – Pastry, where she earned the highest score among all contestants in her category. Chef
our vision is for every Filipino to have healthy skin.”
“This partnership marks a significant milestone in providing topnotch dermatological skincare solutions and expert advice to Filipinos, to help them understand that the way to healing sensitive skin is more than just knowing you have sensitive skin. It’s also having the knowledge on how to improve your skin’s health,” said Frank Patricio, Controller, Skincare, Cosmetics & Fragrances - Beauty Business Unit for Watsons.
Headlining this year’s campaign is the launch of Cetaphil’s latest innovation: the Soothing & Comforting Range, specially developed to instantly reduce redness and provides up to 24 hours of skin barrier protection. More than just
Jenny, who designs many of the pastries showcased at Yawaragi’s buffet and pastry boutique, demonstrated the refinement and technical mastery that have become her hallmark.
Representing Yamazato, Hotel Okura Manila’s signature Japanese fine-dining restaurant, Chef Sherwin Rivera earned a bronze in the Bento Box Challenge. Trained under seasoned Japanese chefs, Chef Sherwin translated traditional technique and refined presentation into an award-winning entry that reflected Yamazato’s culinary lineage.
The Dream Team of Rexander Aspiras, Dyan Manalo, and Katrina Paran, also delivered a standout performance, taking silver in the Dream Team Challenge.
Across multiple categories, the Yawaragi and Yamazato chefs secured two gold, four silver, and eight bronze — 14 medals in total, between the 12 competing chefs returning home with an award.
This year’s achievement is a testament to the team’s talent and to the culture of collaboration, discipline, and mentorship that defines Hotel Okura Manila’s culinary program.
MR.DIY Philippines proudly
its
MR.DIY Philippines Wins Silver at Marketing Excellence Awards 2025
EADING home improvement retailer MR.DIY
LPhilippines proudly took home a Silver award at the Marketing Excellence Awards 2025 held August 8, 2025 at the Grand Hyatt Manila.
The brand was recognized in the “Excellence in Multilingual Marketing” category for its Sinulog 2025 campaign, “Welcome to the FAMILYhan.”
The award-winning campaign brought together culture, community, and commerce by authentically connecting with Cebuano audiences during one of the country’s biggest festivals. Using Cebuano, Tagalog, and English across all touchpoints, digital content, in-store signage, and onground activations, MR.DIY created a localized experience that resonated deeply with festivalgoers.
“This award means more than just recognition,” said Roselle Andaya, Chief Executive Officer of MR.DIY Philippines. “It reflects the value of listening to our communities. We came back to Sinulog with a deeper understanding of Cebuano culture—and the response was truly heartwarming.”
In addition to the win, MR.DIY was also named a finalist in the Excellence in Cause Marketing category
for its “Good Bag Campaign,” an initiative encouraging customers to make sustainable choices through reusable eco-bags while supporting meaningful causes. The recognition solidifies MR.DIY’s standing among the country’s most respected and influential brands. It underscores the brand’s continued commitment to integrating environmental and social responsibility into the core of its everyday retail operations, affirming its impact and leadership in the industry.
The win is a testament to MR.DIY’s ongoing commitment to regional relevance—honoring local traditions, speaking the people’s language, and strengthening community ties. By embracing local languages and celebrating regional identity, MR.DIY reinforces its role as “The Familyhan for Every Filipino Household,” a modern, community-rooted retailer that understands the heart of the communities it serves.
As it celebrates this milestone, the brand looks ahead to more campaigns that reflect the nation’s rich culture and bring practical, affordable solutions to every Filipino home.
THE recently concluded ACTAI Asia Pacific Summit, held at the stunning Ayala-owned Pangulasian Island, brought together some of the most influential figures in the venture capital and tech communities.
With a shared mission to tackle the world’s most pressing challenges, the summit, directed by Maria Serafica, a native of the Philippines, gathered innovators, thought leaders, venture capitalists, conservationists, and entrepreneurs focused on harnessing purpose-driven technologies and innovations to create meaningful change. This was the second event that Serafica brought to the Philippines after discovering Pangulasian Island back in 2019.
ACTAI Global believes in the transformative potential of innovation to create social, environmental, and economic change. By uniting experts across industries, ACTAI fosters collaboration to address global challenges. Its mission is to support entrepreneurs who leverage cutting-edge technologies, including AI, to help provide scalable solutions that improve lives, protect the planet, and build a more sustainable, equitable future.
Another mission of ACTAI Global is ocean conservation, and the gathering included a distinguished panel to discuss ways to help with coral restoration in El Nido and to establish marine protected areas surrounding the Philippines.
As part of its ongoing commitment to supporting innovation, ACTAI Global partnered with Ayala Land to organize an AI competition aimed at identifying and empowering high-potential startups. The competition was designed to highlight startups developing practical solutions to address some of the world’s most critical problems, ranging from sustainability to healthcare to education.
“We are incredibly honored to be recognized by ACTAI Global,” said Ahmed Rashad, Founder and CEO of Perle AI. “This event is more than just a competition; it’s a convergence of brilliant minds coming together to create meaningful change. Being part of this network is a game-changer for us, and we’re eager to leverage AI to drive real-world impact on sustainability and economic growth.”
Bill Tai, co-founder of ACTAI Global, underscored the importance of leveraging technology to tackle global issues.
“The future of innovation is not just about creating new technologies—it’s about using those technologies to make a positive difference,” Tai stated. “Innovation is at its best when it serves a purpose beyond business success. At ACTAI, we’re not just fostering tech entrepreneurship; we’re championing visionaries who are committed to solving humanity’s biggest challenges.”
He continued, “Perle AI exemplifies the kind of companies we are excited to support—innovators who are using AI not only to drive business growth but to solve some of the world’s most urgent problems. I am thrilled to see how Perle AI and other participants in the competition will continue to push the boundaries of what’s possible.” Beyond the conference discussions and networking opportunities, attendees also indulged in exhilarating outdoor activities, including kite surfing, a sport that has become synonymous with the ACTAI community. Many of today’s top tech leaders and venture capitalists are drawn to kite surfing not only for the adrenaline rush but also for the parallels it shares with innovation—strategic risk-taking, adaptability, and harnessing the forces of nature to
The AI competition provided a platform for entrepreneurs to showcase their groundbreaking ideas, offering them resources, mentorship, and opportunities to scale their innovations. Judges of the competition included Lars Rasmussen, inventor of Google Maps, Bill Tai, Patrick Chang of Dispersion Capital, and members of the Ayala family, Jaime Alfonso Zobel de Ayala and Mariana Zobel de Ayala. By bringing together promising startups with industry leaders and venture capitalists, ACTAI Global seeks to accelerate the development of transformative technologies and empower the next generation of tech innovators. The standout winner of the AI competition was Perle AI (formerly Kiva AI), a leader in delivering innovative AI-driven solutions that optimize operations, enhance decision-making, and accelerate business growth. By harnessing cutting-edge technologies, Perle AI helps organizations across industries unlock the full potential of their data, streamline workflows, and tackle complex challenges. During the competition, Perle distinguished itself by showcasing its ability to tailor solutions that deliver scalable, efficient, and impactful results that empower businesses to stay ahead in today’s fast-paced, data-driven world.
clinched
first-ever Marketing Excellence Award, winning Silver for its “Welcome to the FAMILYhan” campaign at the 2025 Marketing Excellence Awards held August 8, 2025 at the Grand Hyatt Manila.
Chef Jenny Tanay and Chef Sean Oblena donning their gold medals from the 2025 Philippine Culinary Cup held last August 6 to 9, 2025 at the SMX Convention Center.
Editor: Tet Andolong • www.businessmirror.com.ph
Motoring
OF BYD SEALION 5 DM-I AND MARINE SUSTAINABILITY
Story & photos by Randy S.
AFTER its official launch, it was time to experience the Sealion 5 DM-i compact crossover. BYD Cars Philippines invited us to an experiential drive event, with the chosen destination being the Kamana Sanctuary Resort in Subic Bay, Zambales. But unlike the usual itinerary, they incorporated an introduction to a marine sustainability program. We got to see the “Circular Explorer”, a solar-powered waste collection boat, and met with the people behind the One Earth - One Ocean (OEOO), who operate it. One Earth - One Ocean FIRST on the list was to swing by the Manila Bay breakwater area. There, the entire group met Executive Manager Daniel Scheler. The environmental organization, based in Munich, has developed the concept of “Maritime Waste Collection” to clean up waters worldwide from plastic waste (as well as oil and chemicals).
In early 2022, OEOO launched a new cleaning, recycling, and environmental education project in the Philippines, utilizing a new solar-powered waste collection boat, the Circular Explorer. Scheler led us to board the uniquely designed vessel to demonstrate the process of waste collection. He explained that the project’s three focal points are maritime waste collection,
i.e., the collection and sorting of plastic waste, as well as education and science. The Circular Explorer is also very flexible due to its shallow draft and can be used on open waters, inland waters, and on the beach to collect waste. More importantly, it is also used as a platform for education, science, and networking events. It was a great way to start the day with marine sustainability efforts in mind. After all, the Sealion 5 DM-i is part of BYD’s “Ocean Series” lineup. So, it was fitting to align the drive event to the initiative itself.
DM-i DNA BACK to the Sealion 5 DM-i, eleven fresh-from-the-factory units were commissioned for the drive event.
At a glance, the silhouette alone is indicative of its EV sibling, the Atto 3. But dimension-wise, the vehicle measures 4,738 mm in length, 1,860 mm in width, and 1,710 mm in height. Upfront is a pronounced grille featuring a familiar horizontal bar with the brand emblem united with the sleeklooking full LED lighting. Other design features include heated and power-adjustable mirrors, integrated puddle lamps, stylish roof rails, and 18-inch alloy wheels wrapped in 225/60 series tires. The tech-forward interior features premium, soft-to-thetouch materials that are combined with intuitive design elements. Highlighted in the center dash is
BYD’s signature 10.1-inch rotating touchscreen, featuring wireless Apple CarPlay and Android Auto connectivity. The sporty buckettype seats are leather-wrapped and well-padded with bolsters. Some of the standard features include NFC card smart entry, push-start ignition, multiple USB ports, and BYD Cloud Service, which offers over-the-air updates. There is even the BYD App, a mobile phone interface allowing remote control of the vehicle’s security and comfort. Motivation comes from the brand’s advanced Super DM-i system. This electrified powertrain seamlessly combines electrified propulsion from a Permanent Magnet Synchronous Motor with a high-efficiency 1.5-liter gasoline engine as a generator and range extender. On paper, the combined output is 194 hp and 300 N-m of
torque. Selectable drive modes available are Economy, Normal, and Sport. Electric juice is provided by a 12.96 kWh Lithium Iron Phosphate Blade Battery rated for up to 71 km of pure electric driving range, based on the New European Driving Cycle (NEDC) standard. The total range is over 1,000 kilometers.
Plugged in, the BYD DM-i system supports up to 3.3 kW of AC charging, allowing the Blade Battery to reach a full charge from 15 percent in approximately 4.5 hours. For added versatility, Vehicleto-Load (V2L) functionality enables the Sealion 5 DM-i to power external devices and appliances, making it ideal for outdoor and on-the-go use, as well as for emergencies when electricity is needed.
The Sealion 5 DM-i may lack ADAS, but it is still equipped with a comprehensive suite of active
safety and security features. These features include Cruise Control, Traction Control System, Electronic Stability Control, Traction Control, Anti Rollover Control System, Vehicle Dynamic Control System, Hill Hold, and Hill Descent Control. Moreover, the vehicle features a rear camera with radar sensors, as well as a Tire Pressure Monitoring System (TPMS). Other standard features include six airbags, ISOFIX child seat anchors, and advanced safety technologies, such as ABS, EBD, and anti-rollover protection.
Eco-run challenge
WE boarded the Aura White version. Now more accustomed to the DM-i technology, a real-world driving approach while in Eco mode would still deliver good results. Since the entire drive event focused on sustainability, an eco-run activity driving to Subic Bay is a perfect fit. The objective was simple: to register the least based on the theoretical average “Past 50 km AEC reading” on the instrument cluster display. From the BYD Manila Bay dealership, the entire convoy flagged off and took the Skyway, Skyway Stage 3, NLEX, and SCTEX route.
For the initial leg, we took Skyway stages up to the Pampanga stretch of NLEX. With more than 80 percent battery charge, we opted to run on full EV mode. Despite the morning traffic’s mayhem, inside the vehicle was blissful. The dualzone climate control and the light-
themed interior also added to the soothing ambience. Surprisingly, for a compact crossover, the cabin space felt more like that of a bigger car. Just before reaching the first stop, the battery charge dropped to 25 percent, and subsequently switched to HEV mode. Even so, the transition was so seamless and quiet. Had we not anticipated, no one would have felt. Behind the wheel, we resumed the second leg on HEV mode. The remaining stretch of NLEX was a series of constant passing of slower vehicles. Steering feedback was good, enabling smooth and quick lane changes. Whenever the battery charge bumped to a substantial level, we would switch back to full EV mode. Switching the regenerative braking level to high also helped regain lost energy. But on SCTEX, everything was back to bliss. We were traveling at a steady pace within the high-speed limit. Opted not to engage cruise control, speed increments were still smooth and effortless, as expected. The Sealion 5 DM-i was well planted with minimal bounces. Halfway through SCTEX, the charge level was over 50 percent. Inside Subic Bay, we would toggle between EV and HEV modes depending on the situation. Obviously, on climbs, we would toggle to EV mode. Ultimately, we achieved a fuel efficiency of 4.96 liters per 100 kilometers, which is equivalent to 20.16 km/L. Not bad at all.
Changan 5 dealerships open soon in Luzon
IT’S barely two years since Changan barged into the nation’s consciousness and already, it has seemingly established a foothold in the ever-expanding auto industry.
Inchcape Philippines, the exclusive distributor of Changan in the country, is set to open five dealerships across Luzon from the second half of 2025 to the first half of 2026, a move that signals the brand’s continued momentum and deepening presence in the region.
In a statement, Inchcape said the expansion reflects the company’s strategic commitment
to bringing Changan’s “innovative mobility solutions and worldclass automotive experience closer to communities, fueling greater accessibility, mobility and innovation.”
Here is Arianne Colene Jalalon’s report:
“The expansion paves the way for deeper collaboration with key dealer partners, strengthening the brand’s distribution network and enhancing customer access beyond Metro Manila. The dealership openings will foster new collaborations and fortify existing partnerships with several dealer partners.
“Opening this year is the Changan Commonwealth in partnership with Ark Diversified and Auto Motors Group, Inc. It will operate at Blk 11 Lot 2122, Commonwealth Avenue, Don Enrique Heights, Brgy. Holy Spirit, Quezon City.
Plaridel Changan
“IN the first quarter of 2026, the Voltura Motors will open its doors as the Changan Plaridel in Bulacan, Central Luzon, with office address at Voltura Motors Building, 9002, Purok 1, Brgy. Parulan, Plaridel, Bulacan, Changan Plaridel will cater to customers in Nueva Ecija, Aurora and select cities in the region.
“Three more dealerships will open in the first half of 2026 in Cavite, Pampanga and Batangas.
“Inchcape will partner with Gateway Group, beginning with Changan Bacoor located at 6475
Daang Hari Road, Molino III, City of Bacoor, 4102 Cavite.
“Next will be Changan Pampanga at E-Clat Building Fil-Am Friendship Highway, Angeles City, Pampanga.
“The fifth dealership will be Changan Batangas, rising at the Industrial Port City of Calabarzon.
It will be located in Diversion Road, Batangas City, Batangas.
14 dealerships
“WITH the addition of the five dealerships, Changan now has a total of 14 branches nationwide, including those in Alabang, Pasig, E. Rodriguez Sr. Quezon City and Pasay.
“Outside Metro Manila are Changan dealerships in Bacolod, Cebu, Dumaguete, Iloilo, Sta. Rosa, Laguna, Tacloban, Tagbilaran, Cagayan de Oro, Davao and General Santos City.
160 years
“NOW 160 years old, Changan has proven itself as one of the largest and most established automotive brands in China, with more than 18,000 engineers and technicians from 31 countries around the world in its fold.
“Its R&D network is found in 10 cities in six countries, particularly
in Chongqing, Beijing, Shanghai, Dingzhou in Hebei, Hefei in Anhui, Turin in Italy, Yokohama in Japan, Birmingham in the UK, Detroit in the US and Munich in Germany.
“Stay tuned for the announcements of these upcoming dealer openings soon! #GetThatChanganFeeling today! Visit any of the Changan dealerships nationwide or check out Changan’s official Facebook account www.facebook.com/ChanganPH or visit www.changan.ph.”
Motorcycle sales
NOT for anything but Philippine motorcycle sales reached 910,923 units by end of the second quarter of 2025, up by 4.8 percent from the same period in 2024, according to Nicole Lucena of Grupo Agatep Inc. Nicole says growth was driven by affordability, fuel efficiency and the vehicle’s ability to navigate through traffic, making the motorcycle a top
urban mobility choice. Industry stakeholders, includiing MDPPA and brands like Honda, Kawasaki, Suzuki, Yamaha and TVS project a 5-percent growth by yearend.
Nicole adds that safety advocates, like Tropang MAALAM, continue to espouse rider education and security awareness among the nation’s motorcycle buffs. Discipline, respect for traffic laws and road courtesy must be observed to the hilt by all users of the two-wheeled machine at all times. That’s the surest way to avoid accidents and incidents of road rage.
PEE STOP Birthday greetings to MTRCB Board
Peregrino
EJ warming up for athletics’ big event in Tokyo
By Josef Ramos
RNEST JOHN “EJ” OBIENA
Edeclared he’s feeling better from the spine injury that hobbled his performance a year ago at the Paris Olympics but stressed he’s still aiming for a perfect health especially with the world athletics championships coming up in Tokyo next month.
Asked about his physical state, Obiena, who suffered a spine injury after the Paris games, explained that he feels a little bit better compared than the last competition in Madrid.
“Better, not perfect, but good enough in general,” Obiena said.
“But I’m okay.”
The indoor season saw Obiena struggling for form at times but he plans to go a hundred percent healthy in the 20th World Athletics Championships that start September 13.
Obiena continues to religiously train under legendary Ukranian coach Vitaly Petrov with both of them testing how well the current world No. 4 has progressed in the World Athletics Continental Gold Tour in Beijing on September 7 where he’ll be competing anew against world and Olympic record holder Armand Duplantis.
“More or less, I am returning to basic training to get my touch, my rhythm back but we will see how it goes,” Obiena said. “For now, it is still an adjustment period for the season and it’s not easy.”
From Tokyo, Obiena will rush home for the inaugural World Pole Vault Challenge on September 21 at the Ayala Triangle Gardens in Makati City.
The two-time Olympian pole vaulter’s season best stands at 5.80 meters, a height he cleared in bagging silver at the Meeting Madrid 2025 Estadio Vallehermoso in Spain last July 19—China’s Bokai Huang won gold at 5.85m and Belgium’s Ben Broeders got at 5.70m.
“When the tough gets going, it becomes interesting and I love the challenge. I know there are more things that I can do within the sport,” said the reigning Asian champion and record holder.
Alex Eala. Seismic. Enduring.
By Troi Santos Special to the BusinessMirror
ON Wednesday, August 27, 2025, the story of Alexandra “Alex” Eala at the US Open took a pause, but not an end.
Her second-round loss to Spain’s Cristina Bucșa will fade quickly into the score lines of a tournament that moves relentlessly forward and what will endure is something much harder to quantify— the way she carried an entire nation into the heart of Flushing Meadows and returned with a piece of history.
Two days earlier, Eala had been at the center of one of those rare sporting moments when time seems to stretch.
Down 1–5 against 14th seed Denmark’s Clara Tauson in the deciding set, she refused to yield. Every point became an act of defiance—the crowd, sensing the
improbable, began to surge with her.
Filipinos straight off their night shifts, students with flags painted on their cheeks, families who had driven hours just to be there—eight thousand voices thundered “Let’s go Alex!” until it became rhythm, almost prayer.
When Tauson’s last shot fell long and the scoreboard sealed a 6–3, 2–6, 7–6 (13–11) epic, Eala collapsed onto the court, not in defeat but in a kind of surrender to joy.
That victory made her the first Filipino woman ever to win a Grand Slam singles match in the Open Era.
For the Philippines, where tennis has long lived in the margins of basketball dominated dreams, this was seismic.
Diaspora communities from around the world shared the highlight clip as if it were an heirloom. In New York, where the migrant story is stitched into every block, Eala’s win became a mirror. Here was a daughter of the Philippines, raised
on the same language of sacrifice and resilience, breaking through the walls of a sport that often felt distant.
This triumph is not an isolated flash but part of a season of steady blaze.
In March, she stormed into the semifinals of the Miami Open, cutting down Madison Keys and Iga Świątek along the way, the first Filipina to ever stand that deep in a Women’s Tennis Association (WTA) 1000.
In June, she reached her maiden WTA final in Eastbourne and broke into the top 60 of the world rankings. With every step, she has widened the aperture of possibility for Southeast Asian athletes who rarely see themselves reflected on tennis’s most luminous stages.
That is why her loss to Bucșa is not the closing of a door but the opening of a vista and at 20, Eala already understands that legacy is built not only on trophies but on presence, on the courage to step into arenas where no one from your
country has stood before, and to hold that space with dignity.
She spoke after her win of how proud she is to be Filipino. That pride is not ornamental—it is foundational. It is the thread connecting her to the fans in the bleachers, the children clutching Sharpies for autographs, Filipinos across the globe watching on shaky livestreams.
The US Open did not crown Alex Eala a champion this year, it gave her something else: permanence.
She has shown that resilience can rewrite the script, that a Filipino can walk into Flushing Meadows not as a guest but as a contender. For a country still waiting for its first Grand Slam champion, that belief may prove more enduring than any trophy.
n Troi Santos is BusinessMirror’s East Coast correspondent. Besides writing, his passion is photography especially coverage of sports and culture.
By Samuel Medenilla
RESIDENT
Ferdinand Marcos Jr. is expected to attend the 50th anniversary celebration of the historic “Thrilla in Manila” match between Muhammad Ali and Joe Frazier III in October.
Will Big 4 remain untouchable in FIVB worlds?
By Aldrin Quinto
THE Final Four of the last FIVB Men’s World Championships three years ago wound up as the same quartet in the semifinals of the Volleyball Nations League (VNL) just last month.
It could be more of the same, but 28 others including home squad Alas Pilipinas look to seize the spotlight in the 2025 FIVB Men’s World Championships set September 12 to 28 at the Mall of Asia Arena and Smart Araneta Coliseum.
Poland is the VNL titlist and world No. 1, while Italy is the defending world champion and runner-up last month in the FIVB’s flagship annual series.
Tolentino starts gathering notes for Asia trackfest ‘Thrilla in Manila’ 50th anniversary bash thrills PBBM
HILIPPINE Olympic Committee
P(POC) president Abraham “Bambol” Tolentino is observing first-hand the conduct of the 2025 Track Asia Cup in Suphan Buri in Thailand as part of the preparations of the country’s hosting of the Asian Cycling Confederation Track Championships in March at the newlybuilt Tagaytay CT Velodrome.
“It will be the first time in 30 years that the Philippines is hosting an Asian-level track championships and we want to make sure on its success,” said Tolentino, also the president of the national sports association for cycling, PhilCycling. Thailand Cycling Association president General Decha Hemkasri welcomed Tolentino at the opening ceremony on Thursday at the Suphan Buri Velodrome, which has hosted the same competition several times in the past.
The Suphan Buri Velodrome is a 333-meter concrete and open air track facility while the Tagaytay CT Velodrome is wood and indoor with an International Cycling Union Olympic and world championship standard length of 250 meters. Tolentino is also using the
Brazil is No. 3 and VNL bronze medalist, while world No. 7 Slovenia has maintained a pattern of nearpodium finishes and is now looking for a breakthrough.
The Poles dominated the VNL and parades an intact core in the world championship led by the formidable three-pronged offense of Cuban-born Wilfredo Leon, Kewin Sasak and Jakub Kochanowski—they earned the VNL awards for best outside hitter, opposite hitter and middle blocker, respectively, with Kochanowski also earning MVP honors.
They play in Pool B with world No. 19 Netherlands, 20th-ranked Qatar and No. 22 Romania at the Smart Araneta Coliseum.
Alas Pilipinas banners Pool A at the SM MOA Arena, with action starting on September 12 against No. 43 Tunisia and plays No. 23 Egypt on September 16 and No. 13 Iran on September 18. Tickets are available via the official web site https://www. philippineswch2025.com/
Led by VNL Best Setter Simone Gianelli and Best Outside Hitter Alessandro Michieletto, Italy banners
Pool F featuring No. 14 Ukraine 17thranked Belgium and No. 88 Algeria at the Big Dome.
Elite playmaker Maique Nascimento leads Brazil in Pool H, also at the MOA Arena, with 12th-ranked Serbia, No. 21 Czechia and 25th-ranked China.
Slovenia takes on No. 8 Germany, 15thranked Bulgaria and No. 29 Chile in the tournament supported by the Philippine Sports Commission, PAGCOR, Office of the President, and Philippine Olympic Committee.
France is also among the teams to watch after topping the 12-nation Olympic Games on its home court in Paris last year and placing fifth in the VNL, while Asia’s charge will be led by VNL regular and crowd darling Japan in the tournament organized by the Philippine National Volleyball Federation (PNVF) and Asian Volleyball Confederation (AVC) president Ramon “Tats” Suzara.
Led by Olympics MVP Earvin Ngapeth, world No. 4 France plays in Pool C with ninth-ranked Argentina, No. 18 Finland and 26th-ranked South Korea at the Araneta Coliseum. Japan plays in Pool G with 11th-ranked Canada, No. 16 Turkiye and 75thranked Libya also at the Big Dome.
The MOA Arena also hosts Pool
D featuring world No. 6 and Olympic bronze medalist US, No. 10 Cuba, No. 28 Portugal and No. 46 Colombia in the tournament also backed by Rebisco, SM, PLDT, SMART, Metro Pacific Investment, Honda Philippines, Meralco, Sony, Lenovo, LRT Line 2, officially sanctioned by the FIVB, partnered with Volleyball World, Mikasa, the official ball, Mizuno, Gerflor and Senoh Corp.
The Chief Executive made the pronouncement during his courtesy meeting with the boxing legend Emmanuel “Manny” Pacquiao in Malacañang on Thursday. In an interview at the sidelines of the meeting, Pacquiao said he invited the President to join the anniversary event organized by his firm, Manny Pacquiao (MP) Promotions.
“He will watch [the anniversary event]. He is really interested in that concept,” Pacquiao said in Filipino. Marcos expressed his support to Pacquiao in his latest match last month against World Boxing Council (WBC) welterweight champion Mario Barrios. While Pacquiao lost the match via a majority draw, the President said the boxing icon was still successful in inspiring national pride and unity among Filipinos.
During their meeting, Pacquiao presented his WBC belt and gifted Marcos with boxing gloves. He then asked the President to instruct government agencies to support the 50th anniversary of “Thrilla in Manila,” which will be celebrated through several boxing matches.
“We will have cards, which are World Championships, which will be held on October 29 to commemorate and celebrate the fight of Muhammad Ali and Frasier,” Pacquiao said. “The President was happy with the concept and [expressed his] all out support [for it].” While talking to Pacquiao, the President showed the shadow boxing moves of Muhammad Ali during his training.
“He [Marcos] was brought up to the ring, to the stage and then he was shown the punches that Muhammad Ali would do, the speed of Muhammad Ali. So he was happy and he never forgot it,” Pacquiao said. The “Thrilla in Manila” was held at the then Araneta Coliseum (now called Smart Araneta Coliseum) on October 1, 1975, with the President’s father, then president Marcos Sr., in attendance. Ali won the heavyweight fight— considered among the best in the world—by corner retirement after Frazier’s camp asked the referee to stop the fight after the 14th round.
THE US Open did not crown Alex Eala a champion this year, it gave her something else: permanence. TROI SANTOS
OBIENA
MARCOS
PHILIPPINE Olympic Committee president Abraham “Bambol” Tolentino (left) observes the races with Thailand Cycling Association head General Decha Hemkasri. POC PHOTO
