the Philippine economy to post growth of below 5.5 percent until 2027, according to the World Bank.
IBy Andrea E. San Juan @andreasanjuan
NVESTMENTS approved within the country’s economic zones have breached the P200-billion mark in the 11-month period this year and could even reach a three-year high in investment pledges despite the “challenging” global investment climate, according to the Philippine Economic Zone Authority (Peza).
In a statement, PEZA reported that it approved 281 projects worth P207.58 billion in invest-
ments in the January to November 2025 period. This is nearly 3 percent higher than the P201.55 billion approved in the same period a year ago.
“Even amid external shocks and a challenging global investment climate, the ecozone industry remains undeterred,” Peza Director General Tereso O. Panga said. In a Viber message sent to the BusinessMirror, the Peza chief expressed confidence: “We will surpass our 2024 investment performance.”
By Reine Juvierre S. Alberto @reine_alberto
THE Philippine peso fell to another historic low on Tuesday, closing at P59.22 against the US dollar, on rate cut bets, a stronger greenback and weak business confidence.
This is the weakest level since the all-time low of P59.17 to the greenback recorded when it closed on November 12.
The peso is also down by 28.5 centavos from the previous close of P58.935 per $1.
The local currency traded from a high of P59.07 to a low of P59.22, after opening at P59.08, data from
the Bankers Association of the Philippines (BAP) showed.
According to Jonathan Ravelas, senior adviser at professional services firm Reyes Tacandong & Co., the peso’s slide to a record low reflects a strong US dollar and weak local confidence.
“For Filipinos, it’s a mixed bag— remittances gain, but imports and debt cost more. The key now is policy clarity and attracting inflows like tourism and exports. BSP can step in, but lasting stability needs more than intervention—it needs trust and growth,” Ravelas said. Expectations of a BSP rate cut may also have weighed on the local currency.
Reinielle Matt Erece, economist at Oikonomia Advisory and Research, Inc. said that wide expectations of a rate cut may have contributed to weak demand for the peso and related peso-denominated assets.
“This is as their returns are expected to decrease, following the expected movement of benchmark interest rates,” Erece said. In the short term, Erece said a weak peso may be a risk to inflation.
“A depreciated peso can be an advantage in increasing exports. This can be achieved with good industrial policy whose benefits can be felt in the medium to long term,” he added. Meanwhile, a trader said that the peso’s dip to P59.22 reflects a “firmer” US dollar amid persistent capital inflows. With the US Federal Reserve likely to stay cautious on rate cuts and with the Bangko Sentral ng Pilipinas facing pressure of monetary easing, the peso could hover near P59 to P60 in the short term before stabilizing once policy signals clear, the trader said. Another trader added that the local currency might continue to remain weak ahead of the US JOLTS report, with exchange rates possibly moving between 59.10 and 59.35.
By Butch Fernandez @butchfBM
THE Senate on Tuesday approved on third and final reading the P6.7-trillion budget for 2026, with its main sponsor, Finance committee chairman Sherwin Gatchalian, citing four key features that he said reflect the government’s desire to respond to the people’s most vital needs while ensuring a transparent and accountable budget process. The amendments to HB 4058, Gatchalian stressed, ensure that the 2026 General Appropriations Bill reflects a “more transparent, more disciplined and more accountable” budget. This, in contrast to the widely criticized 2025 General Appropriations Act, still facing a legal challenge in court and which
has triggered angry exchanges between officials of the Executive and Congress as a result of the budget insertions and unprogrammed appropriations.
In his manifestation after the chamber voted 17 affirmative, zero objections and zero abstentions, Sen. Gatchalian highlighted the key improvements made in education, health, disaster response and infrastructure. The education sector’s 1.37-trillion outlay is the biggest ever, the senator noted, and is the first to meet the United Nations benchmark on education spending.
According to Gatchalian, the P1.37 trillion given to the education sector is the equivalent of 4.5 percent of Gross Domestic Product (GDP). This meets the 4 to 6 percent benchmark of Unesco on education spending. He highlighted improvements in
the budget of education. For one, the Senate added P19.2 billion to the allocation set in the General Appropriations Bill (GAB), or House Bill No. 4058, to construct more than 24,000 new classrooms.
The Department of Education’s School-Based Feeding Program will receive P28.6 billion to cover 200 school days and benefit 4.8 million learners. The program will cover all Kindergarten and Grade 1 learners, while continuing support for wasted and severely wasted learners from Grades 2 to 6. State Universities and Colleges (SUCs) will receive P139.03 billion, P7.35 billion more than what was allocated in the GAB, to expand their carrying capacity. Gatchalian previously flagged that at least 168,000 qualified students were denied admission because SUCs
lacked sufficient capacity.
Gatchalian also emphasized the P1-billion allocation under the Local Government Support Fund to convert over 3,000 daycare centers into Child Development Centers (CDCs) in 4th and 5th class municipalities, along with the creation of 150 plantilla positions for Child Development Workers. Health amendments
MEANWHILE , Gatchalian credited Senator Pia Cayetano with championing and refining most of the key improvements in the health sector budget, specifically in ensuring that zero balance billing is indeed being enforced. A second improvement is the allotment of P1 billion for pilot implementation of zero balance billing in
Marcos to Congress: Ban political dynasties, fix govt
By Samuel P. Medenilla
PRESIDENT Ferdinand Marcos is pushing for the passage of four bills, which seek to overhaul the government through electoral reforms, including the banning of political dynasties, before the end of his term.
The chief executive made the announcement after his meeting with members of the Legislative-Executive Development Advisory Council (Ledac) last Tuesday morning.
Among those who attended the Ledac meeting were Senate President Vicente Sotto III, House Speaker Faustino Dy III, and Majority Leader Sandro Marcos and other Congressional leaders.
During their discussions, Marcos “directed Congress to prioritize the following proposed legislative measures: Anti-dynasty bill; Independent People’s Commission bill; Party-list System Reform bill; and the Citizens Access and Disclosure of Expenditures for National Accountability [CADENA] bill.”
The Anti-Dynasty bill aims to prevent families from serving at the same time in elected positions, while the Independent People’s Commission Act is expected to create a new body which will take over the role of the Independent Commission for Infrastructure, which is currently investigating public works anomalies.
The Party-list System Reform bill wants to fix the loopholes in the country’s electoral system to ensure party-lists represent the marginalized sector, while the CADENA bill aims to promote budget transparency in the government.
The Anti-Dynasty Bill and the
Party-list Reform Bill, which were both supported by the Commission on Elections, have been proposed in previous Congresses, but were not passed into law.
Palace Press Officer Claire Castro said the four pieces of legislation aim to institutionalize transparency and accountability on public finance.
“In a Ledac Meeting this morning, PBBM also instructed both Houses to take a closer look at the four bills, and prioritize the passage as soon as possible,” Castro said.
The members of Ledac have also agreed on the timeline set for the passage of the 2026 General Appropriations Bill, which is expected to be signed into law by the President within the month.
Malacañang made the announcement as the Marcos administration is faced with credibility issues after billions worth of flood control project anomalies were exposed following the probes initiated by the President on the said public works. The said investigations also led to destabilization efforts and calls for Marcos’ resignation.
Acting Executive Secretary Ralph G. Recto said the administration called on concerned stakeholders to provide their inputs for the crafting of the said proposed measures.
“Given the importance and urgency of these bills, the invitation to participate in their crafting should be extended to groups
of all political persuasions,” he said in a statement.
“Broad consultations result in better laws. It is only by canvassing views and opinions from as many sources as possible is the nation guaranteed of a law that reflects their interest,” he added.
select hospitals under LGUs
Third, Gatchalian cited the ample augmentation (P6.9 billion) given to allow specialty hospitals like Lung Center of the Philippines (LCP), Heart Center of the Philippines, National Kidney Transplant Institute, among others.
Meanwhile, Gatchalian also touted the strong support in the 2026 budget for disaster response, and highlighted the strengthening of disaster recovery in communities.
The National Disaster Risk Reduction Management Fund has been increased significantly by P15.33 billion to accelerate recovery efforts, provide shelter, and restore vital services in disaster-stricken areas.
Infra budget
THE Senate’s GAB sets the DPWH budget at P570.8 billion.
it’s important that the Philippines does not lose this and instead focus on developing this in this new trade paradigm,” Lam explained, taking into account that the Philippines is “not performing as well as other Asean economies in terms of attracting foreign investments.”
This was, however, refuted by one of the country’s business leaders. Management Association of the Philippines (MAP) President Alfred S. Panlilio pointed out that manufacturing is important is important as it would attract investments which will propel the Philippines to long-term economic growth.
“Manufacturing, to me, I don’t completely agree that you shouldn’t focus it. I think we should try to have companies invest. Because when you say manufacturing, they invest in the country,” Panlilio told reporters on the sidelines of the 23rd MAP International CEO Conference.
“And once they invest billions in the country, it’s long term,” added Panlilio.
Meanwhile, the 2025 MAP President said services entails threats.
“Services, yes, we need to continue to upskill. But, there are threats. Technology has threats,” added Panlilio. (See: https://businessmirror.com.ph/2025/09/09/ phl-must-focus-on-beefing-upservices-exports-expert/)
This was echoed by former Socioeconomic Planning Secretary Karl Kendrick Chua who underscored at a forum in November that the Philippines should focus on beefing up “new growth drivers” which are the manufacturing, technology and productivity and tourism sectors instead of relying on the buiness process outsourcing (BPO) sector and remittances which are growing at a slow pace.
Chua, now the Managing Director for Data Science and Artificial Intelligence at Ayala Corporation, said, “For 25 years, we have relied on BPO and remittance to fuel growth, and because of its massive size, P4.5 trillion as of last year, it really fuels a lot of growth but we cannot rely on that because remittance and BPO are growing at no more than 5 percent.”
Chua explained the reason for shifting focus, noting the BPO sector is “facing the biggest threat” or the “lack of skills, lack of educated people brought about by decades of some neglect in the education sector, brought about by neglect in the health sector that prevents students from going to school properly.” (See: https://businessmirror.com. ph/2025/11/20/tap-workingage-group-for-new-growthdrivers-chua/)
Following controversies over ghost and substandard flood control projects, the Senate also reduced the DPWH’s budget by P54.2 billion, based on recalibrated costing following the President’s directive to drive down the cost of construction materials.
The key in the reduction, he explained, was the use of costing adjustment factors, as directed by President Ferdinand Marcos Jr. earlier to the DPWH.
In sum, stressed Gatchalian, the 2026 budget, which started off from the very difficult situation caused by the scandals plaguing the 2025 budget, is something senators can be proud off, because it is “ Pinagpuyatan, pinaghirapan, at ipinaglaban nating lahat [something we spent sleepless nights on, worked hard on, and fought hard for]!!!”
Risa: SUCs funding welcome
MEANWHILE, Sen. Risa Hontiveros welcomed the P3 billion for SUCs, to accommodate 250,000 new students.
She also hailed the fiscal boost given to the Department of Justice to fight Online Sexual Abuse and Exploitation of Children; amendments of the special provisions of
the PUV Modernization Program to ensure a fast and equitable enforcements.
Likewise, bigger funds for the Department of Migrant Workers and the Commission on Audit are vital amendments, she added.
House: Bicam to be livestreamed AS the Senate approved its version of the 2026 national budget, the House of Representatives on Tuesday affirmed its commitment to transparency by pledging to livestream the bicameral conference committee proceedings.
Nueva Ecija Rep. Mika Suansing, House Committee on Appropriations chief, emphasized that the House has long advocated for open and accessible budget deliberations.
“The House has always been very firm on our commitment to opening the bicameral conference committee proceedings, more specifically livestreaming the bicam. As early as August, even before the budget deliberations, the House leadership had already made pronouncements with regard to opening and livestreaming the bicam,” she said. According to Suansing, she and Senator Sherwin Gatchalian have already started discussions on how to implement the livestreaming process.
“From the very beginning, the House of Representatives has maintained a firm stance on livestreaming the bicameral conference,” she added. Earlier, Suansing said the P6.793-trillion 2026 General Appropriations Bill (GAB) is a “peoplecentered budget,” one that is transparent, accountable, and directly responsive to the needs of ordinary Filipinos.
She said the spending plan reflects the chamber’s commitment to direct more resources toward social development.
Suansing also assured the public that there are “no pork barrel funds” in the national budget for 2026, as she stressed that no discretionary allocations remain in the national spending plan. She emphasized that all allocations in the 2026 GAB are itemized, transparent, and publicly accessible, consistent with the House’s efforts to fully open the budget process. With Jovee Marie N. Dela Cruz
Philippine Economic Update report.
Al-Rikabi said the World Bank is now seeing “decelerating growth” domestically, such as in capital formation, industrial and services output and private consumption.
As such, World Bank slashed its growth projections to 5.1 percent in 2025 from its previous outlook of 5.3 percent.
This is below the government’s target range of 5.5 percent to 6.5 percent this year.
World Bank has also cut its GDP forecast to 5.3 percent from 5.4 percent for 2026, and to 5.4 percent from 5.5 percent for 2027.
“We expect decelerating growth, which makes it even more important to double down on reforms,” Al-Rikabi said.
This year, the slowdown is driven by lower domestic investment, weak business confidence, a significant decline in foreign direct investment and domestic shocks—both from typhoon- and flood-related disruptions to governance concerns that have delayed public investments, World Bank said.
Services exports have also slowed, reflecting weaker growth in business services and fewer tourist arrivals, it added.
Over the next two years, growth is expected to recover on the back of strong domestic demand.
Private consumption is likely to pick up as inflation remains subdued, the labor market stays strong and lower interest rates from monetary easing make borrowing more accessible for households and businesses, World Bank said.
Meanwhile, investments are anticipated to rise as public infrastructure projects regain momentum and recent reforms that liberalize investment in telecommunications, transport, logistics and renewable energy start creating a more favorable business climate for companies, World Bank added.
‘Revive tradables sector’ RECOVERY could be further strengthened through measures reviving the tradables sector, according to World Bank.
The Philippines’ recent growth has tilted toward “non-tradables”— such as construction, domestic services and retail.
“Burdensome regulations have kept manufacturing job creation flat, reduced the number of exporting firms, and left exports trailing regional peers,” World Bank said. Enhancing competition in logistics and energy, simplifying and digitizing permits, streamlining customs and improving investment facilitation would reduce costs, attract private investment and revive dynamism in the tradables sector, it added.
Moreover, investing in and effectively managing emerging urban corridors is crucial, as the country progresses toward upper-middleincome status.
World Bank said that over 60 percent of urban local government units (LGUs) across Luzon, Visayas and Mindanao are within the core of these “high-potential” corridors, where wage jobs and productive firms are concentrated.
Improved connectivity, targeted investment, and policy support are essential for these LGUs to reach their full potential, World Bank added.
“To do that, high-potential urban areas—urban corridors—need to be harnessed as engines of job creation and productivity that generate spillover benefits across the country,” Al-Rikabi said.
Cezarah Discaya surrenders despite lack of arrest warrant
BBy Joel R. San Juan @jrsanjuan1573
ILLIONAIRE
contractor
Cezarah “Sarah” Discaya surrendered to the National Bureau of Investigation (NBI) on Tuesday morning after President Marcos’ video statement saying that arrest warrants against her and her co-accused are likely to be issued within the week.
When
home hurts
schooling:
PIDS study shows how violence leaves kids behind
By Bless Aubrey Ogerio
AT age 10, most children are still focused on classrooms, not consequences. But for those growing up in homes marked by violence, the effects surface years later—often quietly, in school registers where names begin to disappear.
A new study by the Philippine Institute for Development Studies (PIDS) found that children exposed to physical or emotional violence from a parent at age 10 were about 50 percent less likely to be enrolled in school by the time they reached ages 14 to 15.
The research, “Early Harm, Lasting Impact: The Effect of Parental Violence on Educational Outcomes Among Filipino Children,” tracked nearly 5,000 children from late childhood to young adulthood using long-term national data.
While school enrollment in the Philippines remains high overall, the study showed that children who fall out of the school system are disproportionately more among those who experienced violence at home.
“For example, out of 1,000 children, enrollment is still very high at 96 percent,” said PIDS Project Technical Specialist Aaron Carlos Manuel during a public webinar presenting the findings.
“But among the few who are not enrolled, a larger share comes from the children who were exposed to parental violence,” he added.
Further, the study found that about 39.5 percent of children reported experiencing physical or emotional violence from a parent in the previous six months.
The share remained high as children grew older, which is about 35 percent at age 11 and 34 percent at age 12 before easing to around 27 percent in later survey waves.
According to the researchers, this early exposure does not immediately push most children out of school, but it weakens their ability to stay engaged over time.
“While a child’s development is expected to flourish at home, for these children, home is where fear and harm begin,” Manuel said.
In addition, he explained that experiences in early childhood shape mental health, affecting how children regulate emotions, behave, and participate in school.
Disparities
BOTH boys and girls showed lower odds of staying enrolled if they had been exposed to parental violence, although the relationship was statistically stronger for
Discaya and her co-accused were charged by the Office of the Ombudsman before the Regional Trial Court in Digos City of graft and malversation in connection with the P96.5-million ghost flood control project in Davao Occidental.
The project was awarded to St. Timothy Construction Corp., a construction company owned by the Discayas, on January 22, 2022 and declared completed on October 2, 2022.
However, it was discovered that the project was never implemented.
Lawyer Cornelio Samaniego III, the spokesperson of the Discayas, confirmed Discaya’s decision to
voluntarily turn herself in despite the lack of an arrest warrant.
“ Wala siyang tinatago [She has nothing to hide],” Samaniego said when asked why she surrendered without an arrest warrant, adding that Sarah was accompanied by her lawyer to the NBI headquarters in Pasay City.
Sarah’s husband, Pacifico Discaya II, is currently detained in the Senate after being cited in contempt by senators for giving inconsistent statements during the Senate Blue-Ribbon committee hearing into the flood control scandal.
The NBI has yet to issue a statement on Discaya’s surrender as of presstime.
The Independent Commission on Infrastructure (ICI), meanwhile, has been disallowed by House of Representatives Majority Leader Sandro Marcos from releasing the video recording of his testimony before the body. Marcos appeared before the ICI on December 4 to voluntarily give his testimony in the commission’s ongoing investigation into the multi-billion anomalous flood control projects of the government.
The lawmaker has been accused by disgraced former Ako Bicol Party-list Rep. Elizaldy Co of receiving kickbacks from budget insertions for the past three years.
Major damage found at Arnedo Dike, local officials seek immediate repairs
The ICI, however, granted Marcos camp’s request to allow the legislator to give his testimony in an executive session, citing critical information that may be elicited from his testimony which may jeopardize or compromise further investigation of the commission.”
During an interview with mediamen, Marcos said he had given the commission the full authority to decide whether to release the video of his testimony.
“I have given the ICI full authority to release if they deem fit to release the video of my testimony—if they believe there’s no information there that might
boys, the study noted.
Academic gaps also appear early. Children who experienced violence tended to enter school with weaker skills, with about one in four scoring low in math, reading, and science tests.
Their average IQ scores were also lower than those of children who did not report violence at home. While differences in later academic performance persisted, they were not large enough to be statistically significant.
Situation so far
DURING the webinar, experts cautioned that existing laws and survey tools may still fall short in capturing the full extent of harm children experience.
Philippine laws and international standards often require elements such as intention and repetition to define violence, concepts not always reflected in household surveys, they said.
“What is not clear is how close we are to measuring that concept,” said Dr. Alejandro Herrin, Visiting Research Fellow at the University of San Carlos–Office of Population Studies.
The primary law is Republic Act 7610, the Special Protection of Children Against Abuse, Exploitation and Discrimination Act, which defines and penalizes child abuse, including physical, sexual, emotional maltreatment, neglect, and exploitation, often requiring proof of intention or repetition.
This is supported by Republic Act 9262 (Anti-Violence Against Women and Their Children Act), covering violence in domestic settings with penalties from one month to 20 years imprisonment.
For the authors, future studies should also look at parental violence alongside other forms of harm, such as bullying by peers or abuse by other adults, to better understand how multiple exposures shape learning outcomes.
They stressed that preventing long-term damage requires early action. Positive parenting programs, school-based initiatives, and stronger community support were identified as key interventions, alongside better data coordination across agencies.
“To ensure the success, multisector collaboration is important,” Manuel said. “With the leadership of the DSWD [Department of Social Welfare and Development and the DILG [Department of the Interior and Local Government], we need to strengthen data systems to allow a more comprehensive understanding of how violence really shapes learning trajectories.”
By Ashley J. Manabat
ARAYAT, Pampanga—Local officials here called on the Department of Public Works and Highways to immediately repair the damaged portion of Arnedo Dike at barangay Cupang here.
The damage to the dike may result in the dike’s collapse that will endanger Arayat, Sta. Ana and Magalang towns from floods.
Following an inspection of the dike’s damaged portion, Pampanga Rep. Mica Gonzales and Arayat Mayor Jeffrey Luriz sought speedy action for the repair of the dike that not only serves to protect communities from floods when Pampanga River overflows but also as a major road that passes through Candaba, Mexico and San Luis.
The levee, a major flood-control structure, sustained significant
damage on December 4. Its compromised condition now poses serious risks to thousands of residents in surrounding towns. Gonzales and Luriz inspected the dike with DPWH officials and engineers from the Pampanga First District Engineering Office after receiving reports of large cracks along portions of the setback levee.
20 Chinese armed ships spotted at WPS
By Rex Anthony Naval
ARANKING Navy (PN) official on Tuesday said that around 20 Chinese coast guard and naval ships were monitored in four key areas of the West Philippine Sea (WPS) during the first week of December.
In a press briefing in Camp General Emilio Aguinaldo, Quezon City, the Navy spokesperson for the WPS, Rear Adm. Roy Vincent Trinidad said these Chinese ships were seen in Bajo de Masinloc, Ayungin Shoal, Escoda Shoal and Pag-asa Island.
“Our monitoring on the four features that we are focusing on has resulted in the following: for
Bajo de Masinloc, five Chinese Coast Guard [CCG] vessels and two PLA [People’s Liberation Army] Navy. For Ayungin Shoal, six CCG vessels and one PLAN. For Escoda [Shoal], two CCG and one PLAN. And for Pag-asa [Island], one CCG and two PLAN ships,” he added.
Regarding reports of 101 Chinese maritime militia ships spotted by a ]Coast Guard (PCG) air patrol over the weekend, Trinidad said these sightings are normal.
“This is a normal number considering that the total number of [Chinese] maritime militia vessels in the West Philippine Sea is from 300 to 350. So the 101 is a
normal number. It is not unusual to have this number in our different features in the WPS. Again, these are the maritime militia, not the Coast Guard and the PLAN,” Trinidad said.
He also called the Chinese maritime militia “double-hatted ships” as sometimes they are fishermen and at times part of Chinese Militia Commission and act as their force multipliers or combatants.
“We address them by monitoring them and by consistently patrolling our areas together with the Coast Guard and the Bfar [Bureau of Fisheries and Aquatic Resources]. We are focusing more on the CCG vessels and our monitoring on PLAN,” Trinidad said.
Election watchdog to Senate ethics panel:
Investigate Marcoleta now
By Justine Xyrah Garcia
ELECTION watchdog Kontra Daya on Tuesday asked the Senate Committee on Ethics and Privileges to investigate Sen. Rodante Marcoleta, saying his public admission that he concealed campaign contributions raises possible violations of election laws.
In a letter addressed to the Committee chairman, Sen. JV Ejercito, the group said Marcoleta’s remarks in a televised interview—where he acknowledged receiving campaign donations but opting not to report them because his contributors did not want to be identified—casts doubt on whether he followed election rules and met the ethical standards expected of senators.
Kontra Daya noted that transparency in campaign funding is central to fair elections, and any intentional withholding of information “undermines public trust.”
“When a sitting Senator publicly admits to intentionally submitting an inaccurate sworn statement required by law, it raises not
Cops brace for revenge by Dawlah Islamiyah
THE acting National Police (PNP) Chief, Lt. Gen. Jose Melencio Nartatez Jr., ordered all police units in the central and western parts of Mindanao to be on alert for possible retaliatory attack following the killing of a high-ranking leader and bomb expert of the terrorist group Dawlah Islamiyah–Hassan Group (DI-HG).
Nartatez said the police are working closely with the Armed Forces (AFP), through its local commanders, to ensure the security and safety of the public.
“Our personnel on the ground maintain high level of alert and continuously strengthen defensive position to deter any possible retaliatory attack while also ensuring the safety and security of the civilian population in coordination with the Armed Forces of the Philippines,” Nartatez said.
The military identified the suspected terrorist as Ustadz Mohammad Usman Solaiman, the alleged amir of DI-HG, who was killed during an operation on Sunday in barangay Satan, Shariff Aguak, Maguindanao del Sur. Solaiman was believed to be an expert bomb maker, and his group was allegedly behind a series of bomb attacks targeting bus units across Mindanao.
Nartatez assured the public that the PNP, together with the military, is fully prepared to secure the area and maintain peace and order, “We are ready to maintain stability in the area with the assistance of our colleagues in the military.” Nartatez also appealed to the public to remain vigilant and report any information regarding the presence of lawless elements or local terror groups in their communities.
“I urge the public to remain calm and immediately inform authorities if you have information about these lawless elements or other local terror groups,” he said. Rex Anthony Naval
PAMPANGA Rep. Mica Gonzales and Arayat Mayor Jeffrey Luriz inspect the large cracks on the Cupang, Arayat, portion of Arnedo Dike. Right photo shows the damaged portion of the dike.
See “Arnedo Dike,” A4
See “Discaya,” A4
Legislator: Science-based strategies needed to mitigate impact of natural disasters
By Jovee Marie N. dela Cruz
A@joveemarie
LAWMAKER has emphasized the urgent need for the government to adopt science-based strategies to mitigate the impacts of natural disasters and provide vulnerable communities “more than a fighting chance” to reduce losses from destructive events.
Parañaque Rep. Brian Raymund Yamsuan said these measures include the production and regular updating of hazard maps using modern technologies, along with the implementation of infrastructure and nature-based solutions for disaster risk reduction.
“The recent destruction wrought by typhoons Uwan and Tino and the strong earthquakes that shook the Visayas and Mindanao, have overwhelmed frontline responders and strained government resources. These disasters that were once rare but now appear to be coming one after another highlight the need for better planning and preparedness,” Yamsuan said.
The lawmaker has filed House Bill 4305, or the proposed MultiHazard Mapping Act, which seeks to institutionalize the creation and continuous updating of hazard maps for all cities and municipalities. The bill also mandates the integration of these tools into local development planning and disaster risk reduction efforts.
Yamsuan noted that the measure builds on the gains of Project NOAH, which used LiDAR (Light Detection and Ranging) technology to identify danger zones and create 3-D models that predict flooding and map out flood paths. Under the bill, Cabinet-level agencies led by the Department of Environment and Natural Resources (DENR) will be mobilized to produce, update, and maintain hazard maps in coordination with local governments (LGU).
“The growing intensity and frequency of the calamities we
Continued from A3
“Mabilis ang paglaki ng crack ng dike.
Malaking problema ito, lalo na sa lakas ng current ng tubig, pati na rin sa tuloy-tuloy na pag-ulan at pagtaas ng tubig nitong nakaraang buwan,” Luriz said.
The mayor warned that a breach could submerge parts of Arayat and nearby towns.
In a press statement dated December 5, the DPWH Pampanga First District Engineering Office said it is now addressing the damaged concrete slope protection and the newly constructed asphalt overlay and concrete pavement on the setback levee.
It said the damage resulted from structural fatigue caused by heavy vehicle and equipment movement, compounded by natural factors such as rapid water flow and
are experiencing compel us to invest in a unified, comprehensive, science-based disaster risk reduction strategy. We should provide our countrymen with more than a fighting chance in minimizing their risks from typhoons, earthquakes and other disasters,” Yamsuan said.
“Usually our preparations for an imminent disaster are evacuation and pre-positioning of relief supplies to speed up delivery to calamity victims. But these are inadequate, especially now that communities which before were not struck by typhoons, and areas that were once free from flooding, including evacuation centers, now bear the brunt of the calamities we are experiencing,” he added.
“Better planning—made possible by regularly updated hazard maps and risk assessments—will guide the government in choosing which infrastructure projects to pursue; where to safely construct housing, evacuation centers, and other structures; and when to implement nature-based solutions such as mangrove planting, soil erosion control, and bamboo propagation,” he added.
Yamsuan also commended Cagayan Rep. Joseph Lara, chairman of the House Committee on Disaster Resilience, for promptly acting on pending disaster-related measures and forming a subcommittee to consolidate these proposals—including HB 4305—into a single comprehensive disaster resilience strategy tailored for the Philippine setting.
The Philippines, located along the Pacific Typhoon Belt and the Pacific Ring of Fire, topped the 2025 World Risk Index as the most disaster-prone country in the world.
Yamsuan noted that while Japan faces similar extreme hazards, it has long minimized risks and casualties from typhoons and earthquakes through substantial investments in science, technology, and resilient infrastructure designed to strengthen disaster defenses.
scouring that weakened the soil foundation.
“Cracks were measured at 109.50 linear meters long, 0.60 meters wide, with a settlement of 0.20 meters from the original elevation,” DPWH said in its statement.
Gonzales recommended that the repair be undertaken “by administration,” to allow the DPWH to directly supervise and implement the works.
Completed in 2014, the setback levee in barangay Cupang which is part of the Pampanga River system was funded and awarded by the DPWH to LR Tiqui Construction for P124 million.
The project included the installation of steel sheet pile slope protection along the Apalit-Arayat setback levee. Since its completion 11 years ago, thousands of families in Arayat, Sta. Ana, Mexico, and Magalang have benefitted from the project, with no major flooding recorded in the area.
DOE commits to make sure BOI-registered projects are completed
By Lenie Lectura @llectura
THE Department of Energy (DOE) is committed to do its part in guaranteeing that the list of registered energy projects released by the Board of Investments (BOI) will result in tangible energy infrastructure.
“Our direction is clear. We will continue to work closely with the private sector and our partner agencies in the national government and local governments [LGUs] to ensure that these approved investments will ripen into beneficial and tangible energy infrastructure for our people,” Energy Secretary Sharon Garin said.
The agency reaffirmed its commitment to provide strong policy direction, transparent regulatory frameworks, and close coordination with other agencies to sustain the current investment wave and translate it into stable, affordable, and cleaner energy.
From January to November 2025, 261 projects secured BOI approval, with energy infrastructure leading the investment mix, based on data from the Department of Trade and Industry (DTI). The power and electricity sector alone accounted for 58.74 percent of total approvals, equivalent to P479.78 billion, reflecting the country’s continuing push to reinforce energy security and expand access to modern energy services.
Garin said this strong investment momentum affirms investor confidence in the country’s long-term growth trajectory and the government’s resolve to build
Meralco to slash rates
THE Manila Electric Company (Meralco) announced on Tuesday a reduction in power rates this month brought about by lower transmission and generation charges.
Overall electricity rate for a typical household is lower by P0.3557 per kilowatt hour (kWh) at P13.1145 per kWh from the previous month’s P13.4702 per kWh.
For residential customers with a typical consumption of 200 kWh, this translates to a decrease of around P71 in their total electricity bill this month.
“With the holiday season approaching, we hope this rate adjustment gives much-needed relief for our customers,” said Meralco Vice President and Head of Corporate Communications Joe R. Zaldarriaga.
This month’s transmission charge dropped by P0.1462 per kWh for residential customers due to lower ancillary service charges from the Reserve Market incurred by the National Grid Corporation of the Philippines (NGCP).
The generation charge also went down by P0.1358 per kWh, owing to decreased charges from Independent Power Producers (IPPs).
IPP rates were lower by P0.2127 per kWh due to the decrease in natural gas prices and improved plant dispatch, as well as the peso
Discaya. . .
Continued from A3
jeopardize their investigation,” he said.
However, the ICI Executive Director and spokesman, lawyer Brian Keith Hosaka, said a letter from Marcos giving the commission the go-signal to release his testimony to the public was necessary.
“As per Chairman Reyes:
appreciation, which affected 99 percent of supplier costs that are dollar-denominated.
Meanwhile, charges from Power Supply Agreements (PSAs) and the Wholesale Electricity Spot Market (WESM) slightly increased by P0.0706 and P0.8086 per kWh, respectively.
PSA rates inched up mainly due to the scheduled maintenance of San Buenaventura Power Ltd. Co. (SBPL) from October 27 to November 25, 2025; while WESM charges were higher despite the decrease in demand in November, due to lower downward adjustments to the WESM bill.
IPPs, PSAs, and WESM accounted for 21 percent, 73 percent, and 6 percent, respectively, of Meralco’s total energy requirement for the period.
Taxes and other charges similarly registered at P0.0737 per kWh net reduction.
Pass-through charges for generation and transmission are paid to the power suppliers and the grid operator, respectively, while taxes, universal charges, and Feed-in Tariff Allowance (FIT-All) are all remitted to the government.
Meralco’s distribution charge, on the other hand, has not moved since the P0.0360 per kWh reduction for a typical residential customer in August 2022. Lenie
Lectura
Congressman Sandro Marcos declared under oath that he was amenable to livestreaming or public broadcasting of his testimony,” Hosaka said in response to mediamen’s request for a copy of Marcos video testimony.
“However, until the Commission receives a written authority from Cong. Marcos allowing the release, the commission is constrained from releasing the video recording of his testimony,” he added.
a more secure, reliable, and sustainable energy future.
“We welcome the BOI’s robust investment pipeline, particularly in energy infrastructure. These are not just numbers on a board. They represent critical projects that will strengthen our economy, create jobs, and uplift communities,” Garin said.
She underscored that the administration’s policy thrust is to align investment inflows with the country’s energy transition and development goals.
The BOI is also reviewing 10 big-ticket projects, including hydroelectric plants totaling 2.4 gigawatts (GW) and offshore wind developments with a combined capacity of 3.7 GW.
The DOE emphasized that these particular large-scale undertakings, once realized, will significantly boost clean energy capacity, enhance grid stability, and improve connectivity across the archipelago.
“Hydropower and offshore wind are central to our medium- and long-term energy planning. They bring us closer to our renewable energy targets and help shield Filipino consumers from volatile fossil fuel prices,” Garin added.
Marcoleta. . .
Continued from A3 only legal concerns but serious ethical ones as well,” it added.
Kontra Daya said the Senate must determine whether Marcoleta’s conduct aligns with the standards expected of its members, stressing that the public relies on elected officials to demonstrate honesty in disclosures required by law.
It warned that ignoring such admissions risks weakening confidence in the institution.
“We trust in the Committee’s commitment to uphold the highest ethical standards and to preserve the integrity of the Senate as an institution entrusted with the public’s faith and confidence,” it added.
Marcoleta’s statement of contributions and expenditures (Soce) for the 2025 polls indicated that he spent a total of P112.8 million for his senatorial campaign—more than twice of his declared 2025 Statement of Assets, Liabilities, and Net Worth (SALN), which amounts to P51.9 million.
Last month, the Commission on Elections (Comelec) issued a show cause order to the lawmaker to explain the non-declaration of his donors.
Under Section 99 of the Omnibus Election Code, all candidates are required to provide a detailed list of the donors and personal expenses incurred during their respective campaigns.
As far as the poll body is concerned, Comelec Chairman George Erwin M. Garcia said, no candidate is exempt from such rule.
“Donations received during the campaign period must all be declared…Otherwise, what’s the point of taking an oath before us if some items will not be included?,” Garcia said.
Comelec said falsifying a Soce is an election offense punishable by one to six years of imprisonment.
It may also constitute perjury and falsification of a public document.
By Justine Xyrah Garcia
WORKERS in the public sector can soon avail of a “wellness leave” to address rising cases of stress and burnout among government personnel, the Civil Service Commission (CSC) announced on Tuesday. In Resolution 2501292, the CSC approved the grant of a maximum of five days of wellness leave each year for eligible officials and employees.
Unlike existing vacation and sick leave, the new entitlement is intended specifically for mental health care, physical wellness activities, or general break from work.
The commission said the move responds to workplace conditions flagged in recent studies, including a 2025 global survey that found Filipino workers reporting the second-highest stress levels in Southeast Asia, driven largely by heavy workloads and unhealthy lifestyles.
Earlier this year, the labor department’s Institute for Labor Studies (ILS) also found that 72 percent of Filipino workers both in the public and the private sectors experience stress at least twice a week.
ILS also reported that a growing number of workers experiencing burnout, with 31 percent of respondents— or 91 workers—reporting chronic stress that leads to feelings of burnout.
Under the new CSC resolution, employees may use the leave for up to three straight days or spread it out across the year.
Any unused leave credit is forfeited, as the benefit cannot be carried over the next calendar year or converted to cash.
Applications will follow the same filing rules for other leave privileges and must be endorsed by an employee’s immediate supervisor before reaching the head of office for approval.
Workers must file at least five days ahead of their intended schedule unless emergencies prevent advance notice.
CSC Chairperson Marilyn Barua-Yap, in explaining the intent behind the measure, said the commission views the leave as part of a wider shift toward supporting the overall well-being of government personnel.
“The Wellness Leave is a proactive response to the realities faced by our workforce today. By giving employees the space to rest, recover, and care for themselves, we reinforce a public service environment that is compassionate, resilient, and more responsive to the needs of the Filipino people,” she added.
The CSC has yet to made public a copy of the full resolution.
Arnedo Dike. . .
DOJ indicts Ang, 21 others in missing sabungeros case
close aide.
T
By Joel R. San Juan @jrsanjuan1573
HE Department of Justice
(DOJ) has indicted businessman Charlie “Atong” Ang and 21 others for kidnapping with homicide and/or kidnapping with serious illegal detention in connection with the disappearance of 34 cockfighting enthusiasts or “sabungeros” four years ago. In a press statement, the DOJ said it found prima evidence with “reasonable certainty of conviction” to put Ang and his co-respondents on trial for missing sabungeros’s case.
Aside from Ang, also indicted for 10 counts of kidnapping with homicide were Police Lt. Col . Ryan Jay Orapa, Reogelio Borican Jr., Rodelo Anig-ig, Mark Carlo Zabala, Ronquillo Anding, Police Senior Master
Sergeant (PSMS) Joey Natanauan Encarnacion, Police Executive Master Sergeant (PEMS) Aaron Ezrah Lagahit Cabillan, Police Master Sergeant (PMSG) Jaictin Claveria, PSMS Mark Anthony Aquilo Manrique, PSMS Anderson Abary, Police Staff Sergeant (PSSG) Edmon Hernandez Muñoz, Police Maj. Phillip Almedilla, PLt. Henry Sasaluya, Police Chief Master Sergeant (PCMS) Arturo dela Cruz, PSMS Farvy Opalla dela Cruz, PSSG Aldreo Uy Andes, Police Corporal (PCpl) Angel Joseph Martin, Jezrel Lazarte Mahilum, Emman Cayunda Falle, Julious Tagalog Gumuhon and PMSG Renan Lagrosa Fulgencio. Likewise, the panel of prosecutors also found prima facie evidence with reasonable certainty of conviction to indict Ang, Orapa,
CA freezes ₧16-B assets of construction firm owned by congressmen-brothers
PRESIDENT Marcos on Tuesday night said the Court of Appeals has frozen P16 billion assets of a construction company owned by congressmen-brothers involved in alleged anomalous flood control projects.
In a video message, Marcos said that the assets and properties of Silverwolves Construction Corporation were among those frozen by the Court of Appeals (CA) as part of the efforts to recover stolen public funds originally intended for flood control projects.
Marcos noted that most of Silverwolves’ P16-billion assets were tied to the Department of Public Works and Highways’ (DPWH) flood control projects.
“Naglabas na ang Court of Appeals ng freeze order laban sa mga bank accounts, a ri-arian, at sasakyang panghimpapawid na may kaugnayan sa mga maanomalyang flood control projects na iniimbestigahan ngayon ng gobyerno [The Court of Appeals has issued a freeze order against bank accounts, properties and air assets linked to the allegedly anomalous flood control projects under investigation by the government],” he said.
“May mahigit P16 bilyon ang pumasok sa mga transaksiyon ng Silverwolves mula 2022 hanggang 2025, na karamihan ay may kaugnayan sa mga flood control projects ng DPWH [More than P16 billion entered Silverwolves’ transactions from 2022 to 2024, most of which Silverwolves has been linked to unfinished flood control projects in La Union.
The Ombudsman earlier claimed that Benguet Rep. Eric Yap is the “beneficial owner” of Silverwolves although he reportedly divested a few years ago.
Marcos said the CA has also issued a freeze order on the personal accounts and assets of Yap and his brother, ACT-CIS Party-list Rep. Edvic Yap.
The party-list lawmaker was accused of receiving money through bank transfers from controversial contractor couple Pacifico “Curlee” and Cezarah Rowena “Sarah” Discaya.
Claveria, Anig-ig, Borican, Andes, Almedilla, Encarnacion, Cabillan, and several unidentified policemen belonging to Orapa’s group.
Actress Gretchen Barreto, who was earlier implicated in the case being an investor in Ang’s Pitmaster Group, was not among those indicted.
“As to the other respondents, the case/s were dismissed without prejudice to the re-filing of any complaint with the Department of Justice should future evidence arise linking them directly to the acts of unlawful detention,” the DOJ said.
The DOJ has yet to release a copy of its resolution pending the filing motions for reconsideration by the respondents.
“We cannot provide the press a copy of the resolution yet pending receipt and possible filing of
motions for reconsideration by the respondents. Subject to the discretion of the Secretary of Justice, we may eventually provide the press a copy of the resolution on the anticipated MRs,” DOJ spokesman, lawyer Polo Martinez said.
Martinez said the cases will be filed in three different courts – the Regional Trial Court (RTC) in Lipa City; RTC in Sta. Cruz, Laguna and the RTC in San Pablo City, Laguna.
The charges stemmed from the extrajudicial confession made by whistleblower Julie “Dondon” Patidongan, who accused Ang, who operates the e-sabong firm Pitsmasters, as the one who orchestrated the disappearance of the cockfighting enthusiasts after they were caught cheating.
Patidongan initially worked as a security guard in one of Ang’s farms before becoming Ang’s
Ang, however, has deniedPatidongan’s claims and accused the latter of trying to extort P300 million from him in exchange of not dragging his name in the missing sabungeros case.
Patidongan also led authorities to scour Taal Lake where he claimed the bodies of the missing sabungeros were dumped.
He has also filed a complaint before the National Police Commission (Napolcom) against 18 active and former policemen whom he identified as involved in the abduction of the sabungeros.
From July to October 12, divers from the Coast Guard (PCG) have recovered at least 981 bones from Taal Lake, 887 of them were confirmed to be human bones.
However, authorities have yet to confirm if the remains belong
Legislators to Marcos: Don’t prioritize, certify
By Jovee Marie N. dela Cruz @joveemarie
Marcos said the freeze order covers 280 bank accounts, 22 insurance policies, three securities accounts and eight aircraft, aviation company Sky Yard Aviation Corporation, Marcos said.
He said the government sought the freeze order to prevent the sale or transfer of assets, while the investigation into the flood control mess continues.
“Kailangan natin ang mga freeze order na ito para hindi maibenta ang mga ari arian at para maibalik natin sa ating mga kababayan ang bawat pisong pinaghihinalaang ninakaw [We need these freeze orders so that the properties cannot be sold off and so that we can return to our countrymen every peso that was allegedly stolen],” Marcos said.
“Para sa mga Pilipinong paulit-ulit binabaha, nawawalan ng bahay at kabuhayan. Hindi na maaaring nakawin ang pondong para sa inyo at basta na lamang tumakas sa hustisya [For Filipinos who are repeatedly flooded, losing their homes and livelihoods, funds meant for you can no longer be stolen and used to escape justice],” he added
DPWH has already filed charges against some of its officials and contractors involved in the P96.5 million substandard flood control project of Silverwolves Construction Corporation in La Union.
Marcos also reported that eight DPWH officials in Davao Occidental linked to flood control project anomalies have also sent letters to the National Bureau of Investigation for their surrender.
He added that a warrant of arrest will soon be issued for the contractor Cezarah Rowena “Sarah” Discaya for “ghost” or non-existent flood control projects in La Union and Davao Occidental.
The said initiatives, Marcos said, is part of the government’s ongoing drive against those involved in corrupt practices in flood control projects, which has resulted in many Filipinos to suffer.
Samuel P. Medenilla with PNA
LAWMAKERS called on President Marcos “to go beyond mere rhetoric,” urging him to not only have Congress “prioritize” key reforms but also to officially certify essential measures as urgent.
Party-list Rep. Perci Cendaña of Akbayan criticized the Palace’s announcement as a political maneuver. “Ang politikong gipit, sa pangakong reporma kumakapit
The Palace’s support for these reforms seems more like they’re only trying to save face,” Cendaña said. “The President should show his sincerity. Hindi sapat na ‘i-prioritize’ lang. He should certify these bills as urgent.”
When the President certifies a bill as “urgent,” the usual three-day waiting period after the second reading is skipped, allowing the measure to move straight to the third reading on the same day.
Marcos has called on Congress to prioritize several legislative measures aimed at strengthening transparency, accountability, and political reforms.
During a meeting of the LegislativeExecutive Development Advisory Council (Ledac) on Tuesday, Marcos instructed both the House of Representatives and the Senate to closely review the proposed bills and expedite their passage.
MEMBERS of the Mambabatas para sa Karapatang Pantao (Makatao) coalition in the House of Representatives led by Deputy Minority Leader Leila de Lima on Tuesday filed a measure seeking the creation of an independent truth commission on extrajudicial killings (EJKs).
De Lima, nominee of the party-list group and Mamayang Liberal, said House Bill 6686, or the “Truth Commission on Extrajudicial Killings Act,” was crafted in consultation with the Human Rights and People Empowerment Center (HRPEC) and part of the coalition’s priority legislative agenda.
The proposed measure seeks to create an independent truth commission mandated to investigate extrajudicial killings in the Philippines, uncover their causes, patterns, and consequences, complement existing accountability mechanisms such as the Ombudsman, Department of Justice (DOJ), Commission on Human Rights (CHR), and the courts, as well as recommend institutional reforms to guarantee that such violations never happen again.
“As the search for truth is an indispensable requirement for justice and national healing, it is the urgent mandate of the State to determine not only how many were truly killed among the thousands of reported deaths, but also who they were, how they were executed, the operational structures that enabled the killings, who the perpetrators were, who gave the orders, and who bears ultimate command responsibility for this humanitarian crisis,” the bill read.
The measures include the Anti-Dynasty Bill, designed to prevent the perpetuation of political dynasties in the government; the Independent People’s Commission Act, which seeks to establish a commission to safeguard citizens’ rights and ensure government accountability; the Party-List System Reform Act, aimed at improving the party-list system to better represent marginalized sectors; and the Citizens Access and Disclosure of Expenditures for National Accountability (Cadena) Act, which seeks to institutionalize transparency and accountability in public finance.
While welcoming the President’s pronouncement, House Deputy Minority Leader Leila M. de Lima lamented that the proposed Independent People’s Commission Act Bill and Anti-Political Dynasty Bill were not certified as urgent.
De Lima, the nominee of the party-list group Mamamayang Liberal (ML) said: “It’s as if the public is ordering these bills to be certified as urgent, but what was presented to us is just a PR [public relations] move, claiming they are merely priority bills.” She stressed the importance of swift legislative action, especially amid what she called “widespread corruption and collusion in government.”
Meanwhile, the Makabayan bloc emphasized that legislative hearings must be scheduled immediately and called on the
“By establishing this truth commission through a legislative measure, we strengthen the constitutional promise that every Filipino’s life has value, that justice remains attainable, and that no abuse of power should ever be beyond scrutiny,” it added.
De Lima underscored the need to institutionalize the Truth Commission on EJKs, noting that while the International Criminal Court (ICC) is conducting its own probe, it cannot cover all aspects of the drug war.
public to remain vigilant.
“Failure to pass these long-overdue bills, despite the President’s apparent push, will affirm Marcos’ status as a lame-duck president,” the bloc warned. The Makabayan bloc reiterated its long-standing advocacy for political reforms, transparency, and accountability, emphasizing its commitment to empowering the public and curbing entrenched political interests. The bloc has filed several key measures, including HB 209 and HB 4784, which define and prohibit political dynasties; HB 6193, which aims to ensure that the party-list system remains reserved for marginalized and underrepresented sectors; and HB 6682, the People’s Right to Information (Freedom of Information) bill, designed to promote broader transparency in public matters, including national budget allocations and the Statements of Assets, Liabilities, and Net Worth (SALNs) of top officials.
Assistant Minority Leader Renee Co said, “Why did it take such a massive exposé and scandal for these to be treated as priorities? ”
“Regardless, this shows that our anger and persistent pressure on Malacañang can yield results. But this is not enough. We must double our efforts to ensure that everyone involved is truly held accountable—up to the very top,” Co, the nominee of the partylist group Kabataan, added.
“Accountability should extend beyond top officials to include middle-level officers and other personnel who implemented the murderous War on Drugs. Makakamit lang ang tunay na hustisya at paghilom kung lahat ng sangkot ay mapapanagot [Real justice and healing can only be attained if all the perpetrators are made accountable],” she said.
It can be recalled that during the Duterte administration, EJKs rose to unprecedented levels.
At the end of Duterte’s term, the
to any of the missing sabungeros.
The missing sabungeros were believed to have beensummarily executed following their abduction four years ago after they were allegedly caught cheating during games.
In a statement, Ang’s lawyer Gabriel L. Villareal branded the DOJ’s resolution as “ deeply flawed and grossly unfair.”
Villareal said they are likely to file a motion for reconsideration and ask the DOJ for the reversal of the decision.
“The ruling, while likely given the bias apparent from DOJ conduct, suffers from clear factual gaps and substantial inconsistencies. Clearly the panel relied heavily on the flawed testimony of a lone witness whose integrity is irreversibly compromised,” Villareal added.
DHSUD releases
₧21 million for land purchase of Pasig housing community
THE government disbursed P21 million on Tuesday to finance the purchase of land occupied by a housing community in Pasig City, which secured land tenure for beneficiaries under a state-backed housing program. The amount was released through the Department of Human Settlements and Urban Development and its shelter agency, the Social Housing Finance Corporation, and was awarded to the Centennial Sunrise Homeowners’ Association Inc. The funds will be used to acquire the property currently occupied by the group’s members under a community mortgage arrangement.
In addition to the land purchase funding, the housing agency also turned over a grant of more than P84,000 to cover the documentary stamp tax related to the mortgage.
During the same event, officials from the Metropolitan Waterworks and Sewerage System Regulatory Office said qualified members of Centennial Sunrise may apply for the Enhanced Lifeline Program, which offers discounted water rates to low-income households consuming 20 cubic meters of water or less per month. The water discount program covers areas served by both Manila Water and Maynilad. Centennial Sunrise Homeowners’ Association has 175 members. Bless Aubrey Ogerio
National Police (PNP) acknowledged 6,200 deaths of suspects in the anti-drug campaign, while human-rights groups estimated the number of killings to be as high as 30,000.
Aside from de Lima, HB 6686 was coauthored by Reps. Arlene Bag-ao (Dinagat Island, Lone District),
Mindoro). PNA
Renee Louise Co (Kabataan), Sarah Jane Elago (Gabriela Party-list), Cielo Krisel Lagman (Albay), Elijah San Fernando (Kamanggagawa), Antonio Tinio (ACT Teachers), and Alfonso Umali Jr. (Oriental
A6 Wednesday, December 10, 2025
The World
Editor: Angel R. Calso
Cambodia vows fierce fight against Thailand in escalating border conflict
By Jintamas Saksornchai & Sopheng Cheang The Associated Press
SURIN, Thailand—Cambo -
dia’s powerful Senate Presi -
dent Hun Sen on Tuesday vowed that his country would carry out a fierce fight against Thailand as a second day of widespread renewed combat between the Southeast Asian neighbors drove tens of thousands of people to flee border areas.
Fighting broke out following a skirmish in which one Thai soldier was killed Sunday night, despite a ceasefire that ended five days of fighting in July over competing territorial claims along their border, which resulted in dozens of civilian and military dead on both sides, and the evacuation of over 100,000 civilians.
Both sides vow to keep fighting IN a statement posted to Facebook and Telegram, Hun Sen claimed that his country had refrained from firing back on Monday, but
overnight began to shoot back at Thai forces. He wrote that a strategy of concentrating on where Thailand was advancing would allow Cambodia to “to weaken and destroy enemy forces through counterattacks.”
Thailand’s army said Cambodian forces had fired artillery at a village in Sa Kaeo province early Tuesday morning, though the strike caused no casualties. Thailand says that Cambodian forces also fired at its troops Sunday and Monday, as each side blames the other for firing the first shots.
“Cambodia wants peace, but Cambodia is forced to fight back to defend its territory,” Hun Sen said. Hun Sen was Cambodia’s long-serving prime minister until 2023, when he was succeeded by his son Hun Manet, but is still widely seen as the country’s de facto leader.
Cambodia’s military announced Tuesday that the new fighting had killed seven civilians and wounded 20. A spokesperson for the Thai military announced Tuesday that
one solder had been killed and 29 wounded in the new fighting.
Speaking at a news conference,
Thai Rear Adm. Surasant Kongsiri said the navy was strengthening its position in eastern Thailand near the border with Cambodia.
Thailand on Monday carried out airstrikes along the frontier,
which it said were a defensive action targeting military installations. Surasant said such operation would continue “until attacks stop.”
Villagers on both sides flee to safety
A SEPARATE statement from
Thailand’s 2nd Army Region, situated along the border, said almost 500 temporary shelters have been set up in four border provinces, accommodating 125,838 people. Additional refugees from the fighting are expected to stay with relatives in safe areas.
It said Cambodia attacked Thai positions with rocket and drone attacks.
Cambodia said people fled villages near the border.
Thai Prime Minister Anutin Charnvirakul said Monday in a televised speech that military operations would be carried out as necessary to defend the country and protect public safety.
“Thailand has never wished for violence. I’d like to reiterate that Thailand has never initiated a fight or an invasion, but will never tolerate a violation of its sovereignty,” he said.
The two nations have a history of ill will
THAILAND and Cambodia have a history of enmity over centuries and experience periodic tensions along their land border of more
than 800 kilometers (500 miles).
The ceasefire that was agreed to end July’s fighting was brokered by Malaysia and pushed through by pressure from US President Donald Trump, who threatened to withhold trade privileges from the two nations unless they agreed to it.
A more detailed agreement signed in October called for removing heavy weapons and equipment from the border; desisting from disseminating false information, accusations, and harmful rhetoric; implementing measures to restore mutual trust and full diplomatic relations; and coordinating operations to remove land mines.
None of these actions appear to have been implemented in full or in good faith by either side. After the ceasefire, both nations continued to fight a bitter propaganda war using disinformation, alongside minor outbreaks of cross-border violence.
Prisoners and land mines have been sticky issues
A MAJOR Cambodian complaint has been that Thailand continues
Beijing court orders Malaysia Airlines to pay damages to families of 8 MH370 passengers
BEIJING—A Beijing court has ruled
Malaysia Airlines must pay 2.9 million yuan ($410,000) each to the families of eight passengers who went missing in the disappearance of Flight 370 more than a decade ago.
The court ordered the airline to pay each family compensation for the death of their loved one, funeral expenses, and damages stemming from emotional distress, it said in a statement Monday. Although it is not known what happened to the passengers, they have been declared legally dead.
There were 239 passengers and crew
members on the flight that disappeared after departing Kuala Lumpur for Beijing in 2014. Despite years of searches, it’s unknown why the plane went down or what happened to the people on board. Most of the passengers were Chinese, and their families in China have continued to seek answers.
The court said that another 23 cases remain pending. In 47 other cases, families have reached agreements with the airlines and withdrawn their suits.
Last Wednesday, the Malaysian government said a search for the plane would resume Dec. 30. AP
See “Cambodia,” A7
IN this photo released by Agence Kampuchea Press (AKP), Cambodian villagers sit on tractors as they flee from the home in Preah Vihear province, Cambodia, Monday, Dec. 8, 2025. AKP VIA AP
Trump’s ceasefire plan for Israel-Hamas war faces pitfalls as it moves into a new phase
By Josef Federman The Associated Press
DOHA, Qatar—With the remains of one hostage still in Gaza, the first phase of the US-brokered ceasefire in the war between Israel and Hamas is nearly complete, after a two-month process plagued by delays and finger-pointing.
Now, the key players—including Israel, the Palestinian militant Hamas group, the United States and a diverse list of international parties—are to move to a far more complicated second phase that could reshape the Middle East.
US President Donald Trump’s 20-point plan—which was approved by the U.N. Security Council—lays out an ambitious vision for ending Hamas’ rule of Gaza. If successful, it would see the rebuilding of a demilitarized Gaza under international supervision, normalized relations between Israel and the Arab world and a possible pathway to Palestinian independence.
But if the deal stalls, Gaza could be trapped in an unstable limbo for years to come, with Hamas remaining in control of parts of the territory, Israel’s army enforcing an open-ended occupation and its residents stuck homeless, unemployed, unable to travel abroad and dependent on international aid to stay alive.
Sheikh Mohammed bin Abdulrahman Al Thani, the prime minister of Qatar and a key mediator, said over the weekend that the ceasefire is at a critical point, while Israeli Prime Minister Benjamin Netanyahu is set to travel to the White House this month to discuss the next steps.
Here is a closer look at the next stages of the ceasefire and the potential pitfalls. Troops for Gaza
TRUMPS plan calls for the formation of an international force—known as International Stabilization Force—to maintain security and train Palestinian police to one day to take over. That force has not yet been formed, and a deployment date has not been announced.
Some countries—including Egypt, Turkey, Indonesia, Pakistan and Indonesia— have expressed willingness to participate. But no firm decisions have been made.
A US official, speaking on condition of anonymity to discuss diplomatic talks, says partner countries are holding meetings this month to finalize operations. He predicted “boots on the ground” in early 2026. But there are pitfalls. The force’s command structure and authorities remain unknown.
Hamas says it will oppose any attempts by the force to disarm it, and contributing nations may not to want to risk clashes to take away its weapons. Israel, meanwhile, is hesitant to trust an international body with its security needs.
Board of Peace
TRUMP has said he will head an international board to supervise a committee of Palestinian technocrats running Gaza’s day-to-day affairs. The board will oversee reconstruction and an open-ended reform process by the Palestinian Authority, with the goal of one day allowing the internationally recognized authority to govern Gaza.
So far, Trump is the only board member officially named, though former British Prime Minister Tony Blair’s name has been floated as a possibility. Another US official, also speaking on condition of anonymity to discuss closed-door deliberations, says members of the board will be announced in the coming weeks. The key challenge will be forming a board that can work with Israel, Hamas, the mediators and international aid agencies.
Reconstruction TRUMP’S plan calls for an economic development plan to “rebuild and energize Gaza,” which suffered widespread
Pope Leo XIV gets into Christmas spirit with prayer for peace at Spanish Steps
Rdestruction during the war and where most of the territory’s 2 million people are displaced and unemployed. Still, no such plan has been announced. Egypt is expected to host a conference this month for donor nations to pledge reconstruction aid.
The United Nations has estimated the cost of rebuilding Gaza would amount to $70 billion. Raising that money will be difficult. Even more difficult would be finding a plan acceptable to the many governments involved, along with their private sector partners.
Disarmament THE ceasefire deal calls for Hamas to surrender all of its weapons under the supervision of international monitors. Militants who disarm will be granted amnesty and the option to leave Gaza.
However, Hamas, whose ideology is based on armed resistance against Israel, says it will not disarm until Israel ends its occupation of Palestinian territories.
Bassem Naim, a senior Hamas official, told The Associated Press that the group is open to “freezing or storing” its weapons while a political process takes place, perhaps over many years. It is unclear whether that is sufficient for Israel.
Failure to disarm Hamas could lead to renewed fighting with Israel, clashes with international troops and block progress on the rest of the peace plan.
A Palestinian government THE Palestinians are to form a “technocratic, apolitical” committee to run daily affairs in Gaza, under the supervision of the Board of Peace.
The committee’s members have not been announced and Israel’s opposition to having any Palestinians connected to Hamas or the Palestinian Authority on it could make choosing them more difficult.
It is also not clear if the committee will give Palestinians any real voice in the government or will exist only to implement decisions by the Board of Peace. If the committee is seen as just a façade, it risks not gaining public support and some figures may balk at joining it.
Israeli withdrawals
UNDER the ceasefire, Israel is to withdraw from all of Gaza, with the exception of a small buffer zone along the border. At the moment, Israel retains control of just over half of Gaza.
The plan says further withdrawals will be based upon “standards, milestones and timeframes linked to demilitarization” to be negotiated by Israel, the US, the international force and other “guarantors.”
There are no firm timelines for further withdrawals, and Israel may refuse to pull back further. Its military chief, Lt. Gen. Eyal Zamir, called the so-called Yellow Line that divides the Israeli-held part of Gaza from the rest a “new border” that would serve as a “forward defensive line for our communities.”
Palestinian Authority THE plan calls for a reform of the Palestinian Authority, which runs the West Bank, and create conditions for a “credible pathway” to Palestinian statehood.
Palestinian officials have met with Blair and US officials, and have said they have begun reforms in key areas such as corruption, the education system and payments to families of prisoners convicted in attacks on Israelis. Israel rejects the creation of a Palestinian state, opposes any role for the authority in postwar Gaza and may oppose attempts to bring it in even if some reforms are made. Without a pathway to statehood, any Palestinian support for the new system could crumble. The plan also offers no clear benchmarks or timelines for the reform process.
By Nicole Winfield The Associated Press
OME—Pope Leo XIV got into the Christmas spirit Monday by taking part in a very Roman papal tradition: praying for peace at a statue of the Madonna near the Spanish Steps on the Dec. 8 feast day that kicks off the Christmas season.
Leo greeted thousands of wellwishers who braved the cold to watch the American pope on his inaugural outing to the statue. They were treated to a popemobile romp through Rome’s historic center, which has been decked out for the start of the holiday shopping season.
The pope got a special honor from the association of shop owners of the Via Condotti, the chic shopping street that extends from the Spanish Steps and features such brands as Bulgari, Hermes and Prada.
Wearing his formal red mozzetta, or cape, Leo offered a big bouquet of white roses and then a brief prayer at the foot of the statue. He recalled the millions of people who
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to hold 18 prisoners taken prisoner when the ceasefire became active. Thailand accuses Cambo -
have come to Rome this year on a Holy Year pilgrimage that brought them to the Holy Door of St. Peter’s Basilica.
“After the Holy Doors, may other doors now open to homes and oases of peace where dignity can flourish once more, where nonviolence can be taught, and the art of reconciliation can be learned,” he said.
Leo will be presiding over his first Christmas as pope this year, and already has introduced one novelty. The Dec. 24 Christmas Eve Mass, which had been moved up earlier and earlier in recent years to accommodate older popes, this year is due to begin at the 10 p.m. usual start time.
dia of laying new land mines in the areas under dispute, in several cases maiming Thai soldiers. Cambodia says the mines are left over from decades of civil war that ended in 1999.
The mines issue caused Thailand
Leo will have just a few hours of sleep before celebrating Christmas Day Mass in St. Peter’s Basilica the next morning, followed by his return to the loggia—where he first appeared as pope May 8—to deliver his Urbi et Orbi speech (to the city and the world).
He’ll preside over evening prayers known as vespers on New Year’s Eve and then a New Year’s Day Mass and blessing Jan. 1.
The Christmas season comes to an end with Epiphany Mass on Jan. 6, which also marks the official closing of the 2025 Holy Year and the shutting of the Holy Door to the basilica. Usually Holy Years, also known as Jubilees, are held every 25 years, but Leo has already announced the next one, to be celebrated in an off year—2033—to commemorate the 2,000th anniversary of the crucifixion and resurrection of Christ.
to declare earlier this month that it was indefinitely pausing implementation of the details of the ceasefire until Cambodia apologized for the UN Secretary-General Antonio Guterres expressed concern over the new fighting, especially the use of air strikes and heavy weapons, and called on the warring parties to recommit to the ceasefire.
Sopheng Cheang reported from Phnom Penh, Cambodia.
TENTS sheltering displaced Palestinians stand amid the destruction left by the Israeli air and ground offensive in Gaza City Dec. 5, 2025. AP/ABDEL KAREEM HANA
DepEd seeks ₧41.18-B budget to strengthen private education support amid reforms
By Claudeth Mocon-Ciriaco @claudethmc3
FOLLOWING the Department of Education’s (DepEd) proposed P41.18-billion budget for government subsidies to the private education sector in 2026, Education Secretary Juan Edgardo “Sonny” Angara has assured that there are adjustments made as part of his administration’s broader effort to strengthen transparency and accountability in Government Assistance to Students and Teachers in Private Education (GASTPE) programs implementation—including stricter validation of learner data, closer monitoring of participating schools, and safeguards to prevent the entry of ghost beneficiaries.
The figure, contained in the
Sen. Bong Go underscores importance of local cooperatives in Region 9 and 10
SENATOR Christopher “Bong” Go emphasized the importance of strengthening local cooperatives during the Cooperative Development Authority’s (CDA) Malasakit sa Kooperatiba awarding of financial assistance on Saturday, December 6, at Hotel Conchita, Cogon Market, Cagayan de Oro City. “Akoaypatuloynasusuportasa mgaprogramaatpanukalangbatasna makakatulongsapag-unladngsektorng kooperatiba.Akoaynaniniwalanaang kooperatibaayisangmahalaganghaligi ngatingekonomiyaupangmabawasan angkahirapansaatingbansa,” Go said in a message.
As a member of the Senate Committee on Cooperatives, Go mentioned his partnership with CDA to ensure the implementation of cooperative support programs such as the Malasakit sa Koopertiba initiative, focused not only on providing financial assistance but also on expanding opportunities for cooperative members to contribute to the welfare and development of their respective communities.
A total of 56 cooperatives took part in the activity, with 120 participants, representing Regions 9 and 10’s various community livelihood groups.
The participants received food packs, shirts, balls, pens, and fans, while their cooperatives received fare, balls, shirts, pens, fans, shoes, and jackets.
Go reminded beneficiaries on the proper use of government assistance: “Angpondongnatanggapaypuwedeng gamitinbilangkapitalparamapalago angkabuhayan.Puwederinitonggamitingpuhunansamaliitnanegosyo.Ang layuninnatinaymapalakasangkakayahanngmgakooperatibanatumulongsa kanilangmgamiyembroatsakanilang komunidad.”
Go’s advocacy for cooperative development is reflected in his leislative work related to the sector. He is the co-author and co-sponsor of Republic Act No. 11535, which ensures the appointment of cooperative development officers in local government units. The senator also co-authored and co-sponsored RA 11502, institutionalizing October as National Cooperative Month.
Both measures, according to Go, celebrate the success stories of cooperatives and reaffirm his commitment to strengthening the cooperative .movement in the country. “Patuloy poakongsumasaludosainyongmga lideratmgamiyembroatasahanninyogpatuloykongsusuportahanang inyongmgaadbokasya…Sama-sama tayongmagtulunganparasaikabubuti ngbayan,” Go remarked.
Senate-approved budget and subject to bicameral review, is P670 million higher than the 2025 allocation.
DepEd said the proposed allocation positions the department to serve 989,471 junior high school grantees under the Educational Service Contracting program and 1,475,264 senior high school grantees under the voucher program (SHS VP) next year, along with sustaining the P24,000 annual Teachers’ Salary Subsidy (TSS) for eligible teachers in participating schools. It is also set to assist 117,150 senior high school learners with Technical-Vocational Livelihood specializations.
Angara further noted that the increased allocation comes at a time when several reforms have
been introduced to strengthen the Public and Private Basic Education Complementarity Framework, which operationalizes the Constitution’s mandate for both sectors in delivering accessible and equitable education.
Under Angara’s watch, DepEd has focused on strengthening the management of GASTPE programs, responding to long-standing concerns raised in previous reviews.
The Department has tightened implementation oversight, clarified program guidelines, and improved coordination with private school associations to address delays in processing and documentary requirements. DepEd is also working on the guidelines for the recognition of senior high schools as part of its ongoing reforms, which aim to ensure that private school partners
meet consistent quality standards. DepEd also implemented a fivestep validation process to ensure subsidies reach only eligible learners, including cross-checking the Voucher Management System with the Learner Information System (LIS) verifying discrepancies, conducting post-audit monitoring visits to participating private schools and field offices, and revalidating the learner eligibility and enrollment status during the 2nd semester.
DepEd said that the budget increase reflects President Ferdinand R. Marcos Jr.’s continuing effort to strengthen and expand the support system serving around 2.6 million learners who study in private institutions, particularly in communities where public schools face capacity or accessibil -
DA move to expand workforce crucial to food security, says Kiko
TBy Butch Fernandez @butchfBM
HE Department of Agriculture’s (DA)
initiative to expand its workforce by hiring more agriculturists will help farmers access updated technologies, climate-resilient practices, and the proper support needed to improve yields and increase profitability, according to the chairman of the Senate Committee on Agriculture, Food, and Agrarian Reform.
Senator Francis “Kiko” Pangilinan welcomed the move, calling it a crucial step toward strengthening the country’s food security and supporting the long-term growth of the agriculture sector.
The senator was reacting to the DA’s recent announcement that it is ready to hire around 23,000 licensed agriculturists for its new bureau.
Agriculture Secretary Francisco Tiu Laurel Jr. acknowledged that having enough
extension workers on the ground would significantly improve the DA’s programs.
“This has been our advocacy for a long time, so we welcome this move by the DA to hire more agriculture graduates because our farmers and fisherfolk need the expertise and hands-on guidance of trained agricultural professionals,” Pangilinan said.
In a privilege speech he made in August about the state of the country’s agriculture sector, the senator stressed the need to tap some 25,000 graduates of academic degrees in agriculture from state universities and colleges, other government schools, and local universities.
He said they can occupy the 2,500 vacancies in the DA “as the first step to address extension services and strengthening agricultural cooperatives.”
The senator added that deploying additional agriculturists across provinces and municipalities will help farmers access updated technologies, climate-resilient
practices, and the proper support needed to improve yields and increase profitability.
Pangilinan has current proposed measures to renationalize the DA’s extension services and strengthen agricultural cooperatives to empower farmers and fisherfolk, and provide them with the necessary government assistance.
However, he urged the DA to ensure that the hiring process is complemented with continuous training and sufficient field resources. He also said that the agency must offer competitive compensation packages that recognize the importance of technical agricultural work.
“This is a welcome move, but it must come with sustained support,” he noted. “If we want to attract and retain top talent in the sector, we must provide them with the tools and incentives they need to serve effectively.”
Pangilinan vowed to advance policies and legislation to uplift the agriculture sector, empower rural communities, and promote sustainable food systems.
Sen. Risa pushes need to ramp up fight vs tuberculosis amid rise in infections, deaths
NOTING alarming reports showing a steady rise in the incidence of TB infections and deaths, Senator Risa Hontiveros on Tuesday pressed her advocacy for ramping up the fight against the dreaded communicable disease.
The senator cited the World Health Organization’s 2024 Global Tuberculosis Report showing that 1.25 million people died from TB and 10.8 million were infected.
Experts have warned that the risk of TB rises with diabetes, weakened immunity, malnutrition, tobacco use, and harmful alcohol consumption. Alarmingly, cases of multidrug-resistant
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In 2024, Peza approved P214.18 billion in investments. This is 21.89 percent higher than the P175.71 billion in 2023. Panga said, however: “We are keeping our fingers crossed that we will breach as well our 2025 investment target. Unless, we don’t get a quorum on Dec. 22, supposedly our last board meeting for the month/year.
Let’s see.”
Peza had initially set a P250-billion target on investment pledges for 2025.
The growth in investment approvals from the 281 projects reflects a 17.57-percent rise in new and expansion projects from 239 in 2024 and an 89.19-percent increase in projected exports, amounting to $7.39 billion, while providing 69,737 direct jobs for Filipinos.
As to the source of investments, Peza said Japan continues to lead Peza-approved investments, followed by the Cayman
TB are increasing, and two out of five patients with MDR-TB lack access to treatment.
“Unfortunately, the Philippines is in the top five high-burden countries, contributing 6.8 percent to the global TB cases,” Hontiveros said.
“Our dream, is to have a TB-free generation—zero deaths, zero disease, zero suffering. Achieving this requires integrated, patient-centered care; bold policies and strong systems; and intensified research and innovation,” she added, speaking partly in Filipino.
In support of this goal, Hontiveros cited the bill she filed, together with Sen. Jinggoy
Islands, South Korea, China, Singapore, the USA, and other countries.
Of the 281 projects approved by Peza in the 11-month period this year, 134 are Manufacturing, 64 are IT-BPM, 24 are Facilities, 23 are Domestic, 21 are into Ecozone Development, 11 into Logistics and 4 into Utilities.
Meanwhile, Peza noted that domestic market-oriented investments amounted to P110.73 billion, owing to Peza’s “effective collaboration with local government units in unlocking regional economic potential and generate broader opportunities.”
“This momentum underscores Peza’s strategic focus on emerging industries and strengthened partnerships with local government units to expand investor-ready environments nationwide,” the investment promotion agency said.
Out of the 281 projects approved by Peza, 241 will be located in Luzon, 30 will be in Visayas and 10 will be located in Mindanao.
Estrada, to amend Republic Act 10767, the Comprehensive TB Elimination Plan Act. The aim is to further strengthen the country’s response to TB.
“It’s been almost a decade since we started implementing RA 10767, but we remain in the top five of high-burden TB countries,” she lamented.
The amendments proposed in her bill with Estrada would strengthen the diagnosis and treatment of TB, promote the collaborative and multisectoral approach, and carry out promotive and preventive measures for TB elimination.
Butch Fernandez
However, data indicated that in November 2025 alone, investments plunged to P32.21 billion by 58 percent from the P77.79 billion approved in November 2024.
For her part, Trade and Industry Secretary Cristina A. Roque, who also sits as the Chair of Peza Board, said despite the headwinds, there is a “bright light” in Peza as they’re about to breach their 2024 performance.
“Key developments are the approval of five notable big-ticket projects worth P27.26 billion in investments—four of which will manufacture electronic and pharmaceutical products and one dedicated to ecozone development,” added Roque. These projects, Roque said, will locate in the provinces of Camarines Norte, Laguna, Tarlac, and Batangas.
“Investment acquisition is on stream as we enter 2026, and remains bullish on the upcoming investment prospects into the country as we create more ecozones,” the Trade chief said.
ity constraints. The Department also emphasized that the expansion of GASTPE is a strategic congestion-management measure. For every 35 to 40 enrolled learners in private schools through the voucher system, one classroom is effectively decongested in the public school system. The higher funding for 2026 will ensure the continued expansion of and timely delivery of subsidies to meet growing demand.
Ang lahat ng ito ay para siguraduhin ang pagbibigay ng dekalidad na edukasyon, lalo na sa mga lugar na kulang ang pampublikong paaralan... Kaya’t tungkulin ng DepEd na tiyakin na ang mas mataas na pondo para sa vouchers at subsidy ay ginagamit nang tama. Sa pakikipagtulungan sa private sector, sisiguraduhin nating
tuloy at tiyak ang pag-aaral ng mahigit dalawang milyong kabataan ,” Angara said.
In fact, following stricter monitoring and validation, DepEd Central Office is currently handling the investigation of seven cases against erring private schools, and has filed criminal charges against persons responsible for fraudulently claiming subsidies for “ghost” voucher beneficiaries under the SHS voucher system, involving the amount of P37.58 million.
“We want to ensure that subsidies are delivered on time and that program rules are applied consistently and fairly across regions. Bawat pisong inilalabas ng gobyerno para sa edukasyon, dapat makarating sa totoong mag-aaral ,” Angara said.
Bacolod holds 2nd flood summit to craft masterplan, eyeing national blueprint
WITH climate-driven flooding worsening in many parts of the Philippines, Bacolod City is moving to craft a comprehensive response through its second Flood Mitigation Summit, an initiative a lawmaker hopes will not only address the city’s woes but also offer a “blueprint” for other flood-prone areas in the country.
Bacolod Rep. Alfredo B. Benitez said the second summit is designed to synthesize more than a month of consultations following the inaugural summit on October 20, as stakeholders move toward drafting Bacolod’s first Flood Mitigation Masterplan.
“The master plan will be the whole city’s blueprint in solving our long fight with flooding. We are proud to note that as we gear toward this, we have involved as many stakeholders as possible—from national government agencies to civil society organizations and even Bacolodnons themselves,” said the lawmaker, who has been at the forefront of efforts to rally the city’s various sectors to work together to find solutions to persistent flooding.
During the one-day meeting, participants will refine a consolidated matrix of identified problems and proposed short-, medium-, and long-term interventions. The Bacolod Anti-Baha
Alliance, representatives of national agencies, local officials, and several civil society organizations—including DepDev Negros Island Region—are expected to present their position papers and synthesis of earlier discussions. A technical working group will later be formed to convert the completed matrix into a white paper that will become the initial draft of the Flood Mitigation Masterplan.
Benitez expressed hope for another productive summit, thanking stakeholders who have actively participated for their continued concern for the city. According to the lawmaker, “One of the main reasons why I believe we will eventually succeed in solving chronic flooding is because Bacolodnons love their city and are willing to do what it takes to preserve and protect their heritage and well-being.”
“Flooding is a problem that faces many of our kababayan, and we hope this summit can offer a blueprint for the rest of the country. We want to show that when a city’s people work together for a common purpose, we can rise above any challenge. Flooding may be a tragic reality of our history and our present—but we should refuse to make it an accepted reality in our future.” Jovee Marie N. Dela Cruz
DA halts Belgian poultry imports due to Avian flu
THE Philippines has imposed a temporary ban on poultry shipments from Belgium due to a bird flu outbreak.
Agriculture Secretary Francisco Tiu Laurel Jr. signed Memorandum Order (MO) 73, which authorized the ban on the entry of birds, poultry meat, day-old chicks, eggs, and semen from the European nation.
“There is a need to prevent the entry of HPAI virus to protect the health of the local poultry population,” the order read.
The DA decided to issue the import freeze after veterinary authorities from Belgium reported to the World Organisation for Animal Health (WOAH) on October 22 an outbreak of H5N1 Highly Pathogenic Avian Influenza (HPAI) in Diksmuide, WestVlaanderen, affecting domestic birds. Under the order, all previously approved Sanitary and Phytosanitary Import Clearances (SPSICs) for birds and their byproducts from Belgium are automatically revoked.
The DA also directed veterinary quarantine officers at all major ports to stop and confiscate any shipments containing restricted commodities.
Despite this, the agency said all shipments from Belgium that are in transit/ loaded/accepted into ports on or before the effectivity of the order would be permitted, provided these were slaughtered or produced on or before October 7. To prevent trade disruption, the DA has updated its guidelines on implementing bilateral regionalization with accredited countries, allowing trade partners to maintain exports of poultry and its products to the Philippines despite confirmed cases of bird flu. Under the regionalization agreement, the Philippines will restrict shipments of live birds and their products only from certain areas with confirmed avian flu cases instead of imposing a country-wide ban. France recently joined the list of countries with which the Philippines has an existing HPAI regionalization agreement. Other nations include the United States, the United Kingdom, Brazil, the Czech Republic, Russia, and Poland. The DA has stressed that a country-wide ban during outbreaks of bird flu limits the sources of birds and
PHL among 6 malaria-endemic countries with rising cases
By Manuel T. Cayon @awimailbox
DAVAO CITY – The Philippines is one of six countries with rising cases of malaria as the rest of 17 endemic countries in Asia Pacific were successfully stamping out this mosquito-borne plague that often thrives in swampy jungles and watery countryside.
The rising cases of malaria in these six countries were the downside to the overall significant strides achieved by 11 other countries in the Asia Pacific region where malaria is known to be endemic.
all malaria burden in the WHO’s Western Pacific region.” While India has been bothered by persistent outbreaks, the country has reported a drop in malaria burden overall.
Nepal has been pestered with cases traced to some transmission along shared border with India.
But the Asia Pacific region, one of the malaria endemic regions, including most of Africa, “recorded marked progress toward malaria elimination in 2024, with a reduction of over 725,000 estimated cases compared to 2023.”
interventions following the major floods of 2022 and 2023,” the report said.
Beyond Pakistan, it said, ten other countries in Asia Pacific reported declines in Bangladesh (-21 percent), Cambodia (-77 percent), Lao People’s Democratic Republic (-53 percent), Vanuatu (-30 percent), Viet Nam (-36 percent), Myanmar (-17 percent) and Thailand (-14 percent).
Malaysia, Sri Lanka and Bhutan were close to achieving zero cases.
The APLMO and the WHO ascribed the setback in some countries to funding constraints and “systemic challenges and logistical barriers,” as well as “burden remains high in several countries and hardto-reach areas including conflictaffected areas and remote regions.”
and global partners into action.
It said that report from Indonesia indicated that “burden remains high, with increases in 2024 concentrated primarily in Papua.”
The cases in Papua New Guinea of the Solomon Islands were also high, “accounting for 73 percent of
The annual World Malaria Report by the World Health Organization said that aside from the Philippines which recorded an increase by 53 percent of cases between 2023 and 2024, the other countries with poor showing in the battle against malaria were Afghanistan (+38 percent), India (+11 percent), Indonesia (+24 percent), Nepal (+147 percent), and Papua New Guinea (+5 percent). It said the cases in the Philippines were concentrated in Palawan and conflict-affected areas.
DOLE commends heroic act of dismissed Cebu driver
WHEN Typhoon Ti -
no’s floodwater surged through Barangay Cotcot in Liloan, Cebu, on November 4, 2025, one man stood firm, becoming a lifeline and beacon of hope for residents amid the raging typhoon waters.
Instead of seeking shelter, Francis Anthony Narvasa, a wing van driver, let compassion and selflessness guide him. Without hesitation, he used his company van as a shield to rescue six trapped individuals, holding them safe long enough for rescuers to reach them. Working alongside him was Patrolman Niño Divinagracia of the Liloan Police Station, who braved the strong currents to assist Francis in rescuing despite sustaining injuries.
To honor Francis’s courage and compassion for his immediate community, the Department of Labor and Employment, through its Central Visayas Regional Office, awarded him with a plaque of commendation, as part of DOLE’s 92nd Founding Anniversary celebration in Cebu.
“Kami lang tungod kay atong mandato is to take care of our workers nato. So, ako lang nagpasalig ko nga kining driver tagaan nato ug pasidungog. Ato ning imbetahon labi na sa atong umaabot nga anibersaryo sa Department of Labor and Employment karong December 8. Ang driver na bayani kay daghan natabangan atong mga panahona, dili lang bayani sa mga namumuo but bayani sa komunidad,” DOLE 7 Regional Director Roy
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Buenafe said in an earlier interview.
(It is our responsibility to take care of our workers. I assure you that this driver will be given recognition. We will invite him, especially during our upcoming DOLE anniversary on December 8. The driver is a hero who has helped many people, not only a hero to his fellow workers but also a hero to the community.)
According to Regional Director Buenafe, Francis has been terminated by his employer due to the incident. To adhere to the current administration’s call to protect workers and to confirm whether Francis’ rights as an employee were upheld in his termination, DOLE will further investigate the basis of his dismissal, the regional director added. He also appealed to employers to continuously comply with labor laws and ensure that workers receive the benefits and protections they deserve.
DOLE 7 will also be awarding livelihood assistance for the hero driver, as well as PHP 10,000 cash assistance from the Regional Tripartite Industrial Peace Council of Central Visayas to support Francis while the investigation proceeds. He was also hired as a driver at the Cebu Provincial Government.
On its 92nd anniversary, the Labor Department reiterates its commitment to “serbisyong tapat at nararapat” for all hardworking Filipino workers and their families.
“The
The Asia Pacific Leaders Malaria Alliance (APLMA), based on the latest findings the “significant reduction” from 11 of the region’s 17 malaria-endemic countries, brought down the cases from over 9.6 million in 2023 to approximately 8.9 million in 2024.
“Notably, the reduction observed in 2024 was largely attributable to Pakistan, which reported over 1.1 million fewer estimated cases than in 2023, marking a 26.4 percent reduction that effectively halted a two-year rise in cases. This achievement was made possible by the robust restoration of malaria
The WHO has also recently issued Malaria-Free Certification to the newest country, Timor Leste, which the APLMA described as “a Beacon of Hope” in the fight against malaria.
The WHO also reported successes in its anti-malaria campaign along the stretch of the Mekong River, which traverses several Asian mainland countries.
“These reductions reflect the impact of robust public health responses, particularly sustained investments in surveillance, testing, and treatment, and an increased focus on community-based interventions,” the APLMA said in a news release last week.
“Large-scale funding cuts and shortfalls in recent years means resources that are already limited are further constrained. Malaria in Asia Pacific is competing not only against other health issues, but also against other regions with greater health emergencies. What’s at stake is the very safety of our communities, the resilience of health systems, and the promise of a healthier future,” the APLMA said.
The WHO also cast a spotlight on antimalarial drug resistance although it said it has posted success in the Greater Mekong subregion that traverses through Cambodia, Laos, Myanmar, Thailand and Vietnam, which the WHO said “has long been recognised as the hotspot of antimalarial drug resistance.”
“What began as a threat ultimately galvanized countries
Mactan-Cebu International Airport ignites Holiday Spirit with ‘A Christmas of Light and Hope for Every Home’
LAPU -LAPU CITY, Cebu— Mactan-Cebu International Airport (MCIA), the Philippines’ main tourism transfer hub in Visayas and Mindanao, officially welcomed the holiday season with the ceremonial lighting of its iconic Christmas tree on December 4, 2025 at Terminal 1 Airport Village. Embracing the theme “A Christmas of Light and Hope for Every Home,” the event transformed the terminal into a beacon of festive warmth, celebrating the enduring spirit of the Cebuano people and the joy of coming home.
As the envisioned Main Tourism Transfer Gateway to the Philippines, MCIA serves as the emotional backdrop for thousands of Filipino reunions during the holidays. This year’s theme pays tribute to the airport’s role in connecting families and the shared resilience found in every household.
cation to creating a welcoming atmosphere for millions of travelers. “At MCIA, we strive to be more than just a transit point; we are a place where journeys connect and storiesbegin. This year’s theme, ‘A Christmas of Light and Hope for Every Home,’ reflects our commitment tobringing warmth, comfort, and positivity to every passenger passing through our gates. We want this treeto serve not just as a decoration, but as a beacon of optimism for the coming year.”
The centerpiece of the celebration is a towering, sustainably designed Christmas tree adorned with ornaments that reflect the vibrant culture of Cebu. The lighting ceremony was attended by government partners, airline partners, airport stakeholders, employees and media partners, marking the start of a series of holiday activities designed to delight passengers.
Julius Neri Jr., General Manager and CEO of the MactanCebu International Airport Au -
thority (MCIAA), highlighted the importance of unity during the season.“The lighting of our Christmas tree is a cherished tradition that brings the entire airport community together. It is a steadfast reminder that no matter where our passengers are headed or where they are returning from, the spirit of Cebu goes with them. We are proud to share this symbol of hope with the world, and we wish everyone a safe, seamless, and meaningful holiday season.”
Travelers passing through MCIA starting today will be treated to festive musical performances, holiday-themed photo spots, and special treats as part of the airport’s commitment to delivering a world-class passenger experience. As part of the Filipino Christmas tradition, an anticipated Simbang Gabi will also be held at Terminal 1 Airport Chapel from December 15 to December 23, 2025, inviting the airport community to commemorate the essence of Christmas.
NFA eyes January ‘26 for third rice auction
THE National Food Authority (NFA) is planning to conduct a third round of auction in January 2026, following the sale of nearly 16,000 metric tons (MT) of its aging rice stocks.
This, after the NFA awarded 15,750 MT or 315,000 50-kilo bags during its second tender on December 5. The agency is expected to bid out 1.11 million bags of milled rice or 55,579 MT.
NFA Administrator Larry Lacson confirmed to the BusinessMirror that the grains agency would enter into a negotiated bidding with qualified participants for the 796,585 bags or 39,829 MT of remaining stocks.
He noted that the leftover stocks from the negotiation, along with the expected aging rice of 221,608 bags or around 11,000 MT by January, will form part of the final volume in its third tender next month.
Despite expressing confidence that the agency would release the remaining stocks under a negotiated sale, Lacson wants to expedite the trade amid the looming threat brought by the lifting of the ban on foreign rice in January.
“It will be lifted by January, so we have to be fast and negotiate this in December. Under the rules, it can be negotiated, so everything should be exhausted,” Lacson told this newspaper on Tuesday.
“Naturally, there are market forces. If there’s imported rice, then that’s a competition,” he added.
For his part, Agriculture Secretary Francisco Tiu Laurel Jr. called the sale of 16,000 MT of aging rice a critical move to unclog storage and keep palay prices firm.
“We will continue finding ways to dispose of aging rice to bolster palay prices and farmers’ incomes,” Tiu Laurel was quoted in the statement as saying.
During the second tender, 68 sets of bid documents were purchased by 30 prospective bidders covering 618,660 bags. On the opening of auction tenders, only 27 were submitted for 31 lots.
Only 13 bidders with 25 lots advanced and were recommended for award, the agency said. It added that 14 were dropped for insufficient bid bonds, faulty documents, or offers below minimum volume.
Large-scale investments enabled a comprehensive regional response which proved successful, with Cambodia, Laos and Vietnam now nearing eliminatio,” it added In Asia Pacific, the APLMA said the malaria threat “is particularly acute in high-burden regions with persistent social and logistical barriers, such as areas with mobile and migrant populations, and geographically remote communities. These deep-seated barriers demand sustained investment and enduring political will to be effectively dismantled in order to safeguard progress.”
“This means we simply cannot afford to stop here even when confronted with global resource constraints, when the goal post is within sight,” it said. The Singapore-headquartered Asia Pacific Leaders Malaria Alliance (APLMA) Secretariat was formed at the behest of the Prime Ministers of Australia and Viet Nam at the 8th East Asia Summit in 2013 “to unite heads of government across Asia Pacific committed to achieving malaria elimination by 2030.”
AFP pulls out units from former insurgency-strong eastern Mindanao
DAVAO CITY—The military pulled out a brigade and a battalion from the Army’s 10th Infantry Division after clearing the Davao Region of several guerrilla fronts and a year after the government declared the region cleared of insurgents. The 10th ID, which adapted the name Agila Division, said it pulled out the 701st Infantry Brigade and 56th Infantry Battalion from its ranks for redeployment to the Northern Luzon Command. The 10th ID is under the Eastern Mindanao Command. Major General Alvin Luzon, 10th ID commander, presided over the send-off ceremony on Sunday for the 701st Infantry (Kagitingan) Brigade and the 56th Infantry (Tatag) Battalion at the Tactical Operations Group 11, Philippine Air Force Davao Air Station at the Davao airport. He said the redeployment of the two units was part of the armed forces’ ongoing rationalization of forces to sustain internal security operations and further support expanded security obligations. Luzon lauded both units for their exemplary contributions to the declaration of an insurgency-free Davao Region.
Lacson said winning prices landed within the expected P22.52 to P25.16 per kilo range, a signal that traders’ re-entry could help temper retail prices.
“When these stocks move quickly, consumers feel the relief,” he said.
The NFA conducted the first auction of aging rice stocks in October, but Lacson said it failed as only a few participants joined the bidding.
Currently, the grains agency has 1.2 million bags or 60,000 MT of aging stocks in warehouses nationwide, which the DA said prevented the entry of freshly harvested palay.
“With its mandate trimmed to buffer stocking and its ability to sell limited strictly to public bidding, clearing old rice has become a challenge.”
Despite this, Tiu Laurel noted that pending legislation could change the game.
“We are hopeful that once these measures pass, the NFA can swiftly dispose of buffer stocks and become far more effective in supporting rice farmers and lowering rice prices for consumers,” he said.
“For more than a decade since its assignment under the operational control of the 10th ID in October 2011, the 701st Brigade has dismantled six guerrilla fronts of the New People’s Army, two Pulang Bagani Commands, one Sub-Regional Sentro de Grabidad, and two Sub-Regional Committees.
“These paved the way for sustained socio-economic development in Davao Oriental,” he said. The 56th IB, on the other hand, which was also placed under the operational control of the Agila Division since February 2018, “played a crucial role in dismantling one Sub-Regional Guerrilla Unit and one Sub-Regional Committee”.
“Equally remarkable is the steadfast effort and commitment of the 56th IB in gaining full control of Talaingod and the Pantaron Range, once strongholds of the Southern Mindanao Regional Committee [SMRC],” he added.
The success of the two units prevented the NPA’s re-entry and recovery in these areas,” Luzon said. “Through this stability, the Tatag Indigenous People’s Scholarship Program of the 56th IB opened new doors of hope for indigenous children within their area of operations.”
“May you carry the Agila Spirit wherever duty takes you. May the skies be clear and the winds be gentle,” Luzon said. Manuel T. Cayon
Poor man’s fish no more: ‘Galunggong’ prices soar amid production crisis
THE last time roundscad ( galunggong) production exceeded the 200,000-metric ton level in recent years was in 2015, when El Niño struck the Philippines and wreaked havoc on farmlands in the country. That year, fishers caught a total of 225,101.69 MT of galunggong, based on data from the Philippine Statistics Authority (PSA). El Niño continued to affect the country the following year, and may have affected galunggong production as it fell by nearly 6 percent, but it was still above 200,000 MT.
Data from the PSA showed that the drastic cut in galunggong output was recorded in 2017, when it plunged to below 200,000 MT. The production of what is widely considered as a poor man’s fish in the Philippines returned to the 200,000-MT level in 2020, during the pandemic, when it reached 202,000 MT. In 2024, however, galunggong output fell to its lowest level in 10 years, settling at 170,813.53 MT.
Based on the latest figures from the PSA, production of what used to be the most affordable fish species would still be on a par with the level recorded last year. In January to September, the statistics agency estimated that output reached 130,500 MT. This is 10 percent lower than the actual production of 145,644 MT in January to September 2024.
The lower output and the uncertainty created by tight global supply have led to higher galunggong prices at a time when Filipinos are usually more partial to meat dishes, according to the latest data from the Department of Agriculture. Its price monitoring indicated that the average retail price of roundscad surged to P400 per kilogram, which is even more expensive than some cuts of pork and chicken.
(See, “At P400 a kilo, galunggong no longer a poor man’s fish, says DA,” in the BusinessMirror , December 3, 2025). Its current price tag is also half of the minimum daily wage of workers in Metro Manila.
To plug the shortfall in domestic output, the Philippines has been importing the fish species in huge quantities in recent years. For this year, the DA has allowed the importation of 55,000 MT of frozen small pelagic fish species, including roundscad, for wet markets for the fourth quarter. The intent is to ensure that the country will have enough roundscad during the closed fishing season and prevent prices from skyrocketing to unprecedented levels.
However, because of tight global supply, traders may not be able to bring into the Philippines the entire 55,000 MT by yearend, prompting the government to extend the issuance of import permits until the end of January 2026. This highlights the urgency of immediately addressing the decline in the domestic production of roundscad and to put in place a national management plan, which was envisioned during the 1st Galunggong Summit held in 2019. Policymakers must do what is necessary to enable the Philippines to produce enough fish and other food items amid the threat posed by extreme weather events.
Vote of confidence
TTHE BUILDER
HE Philippines is ending the year on a steady note in spite of the headwinds. The economy is demonstrating solid fundamentals and a clear trajectory toward sustained growth, even as it navigates both domestic dynamics and the broader global economic landscape.
As the Christmas season approaches, a seasonal surge in household spending—fueled by the release of 13th-month pay and stable inflation—is poised to provide a significant boost to fourth-quarter gross domestic product (GDP) growth. This momentum builds upon a respectable 5.0-percent growth achieved in the first three quarters of 2025. The positive outlook is strongly underpinned by key macroeconomic indicators. Employment figures remain encouraging, with unemployment averaging a manageable 4.5 percent and underemployment at 14.2 percent. The country’s economic performance has been recently affirmed by S&P Global Ratings, a major credit watcher, which maintained the Philippines’ ‘BBB+’ long-term and ‘A-2’ short-term sovereign credit ratings with a positive outlook.
S&P Global expects the Philippines to maintain its external strength and healthy growth rate, and the fiscal performance to strengthen over the next 12 to 24 months. The agency’s assessment indicates that institutional and policy settings could provide stronger support for sovereign credit metrics during the period.
S&P forecasts a medium-term GDP growth of about 6.2 percent over 2026 to 2028, based on strong public and private consumption, coupled with sustained investments. GDP per capita could rise to about $5,800 by 2028, it says.
The ratings on the Philippines reflect the country’s above-average economic growth potential and strong external position. Policy settings, according to S&P, have helped keep economic performance strong and
The positive outlook is strongly underpinned by key macroeconomic indicators. Employment figures remain encouraging, with unemployment averaging a manageable 4.5 percent and underemployment at 14.2 percent. The country’s economic performance has been recently affirmed by S&P Global Ratings, a major credit watcher, which maintained the Philippines’ ‘BBB+’ long-term and ‘A-2’ shortterm sovereign credit ratings with a positive outlook.
sustained fiscal spending on public investment.
S&P sees the government deficit averaging about 3.0 percent of GDP over the next three years. It believes that a faster increase in fiscal revenue will help lower the general government deficit to 3.5 percent of GDP in 2025 from 3.7 percent in 2024.
The national government’s proposed budget for 2026 is P6.8 trillion, a 7.4-percent increase over the 2025 budget. Economic services, including the “Build Better More” infrastructure program, will receive about 28 percent of the total budget.
S&P, meanwhile, forecasts the net general government debt to stabilize at 41.8 percent of GDP by 2028. It cited the Philippines’ external position
as a rating strength, underpinned by robust personal remittance inflows, which reached a record $38.3 billion in 2024.
Foreign direct investments (FDI) are also steadily coming in, reaching more than $5 billion in the first eight months of 2025. Reforms like the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act are expected to support FDIs. While the account deficit widened to 4 percent of GDP in 2024, it is expected to moderate over the forecast years, per the S&P report. Gross foreign reserves provide a strong external buffer, reaching $110.2 billion as of October 2025. Inflation continues to ease, averaging 1.7 percent in the first 10 months of 2025.
S&P Global lauded the Bangko Sentral ng Pilipinas (BSP) for keeping inflation rate low despite its monetary easing cycle. The BSP has reduced the policy rate by 150 basis points since August 2024 and is likely to take an accommodative stance on monetary policy as inflation is currently below the target range.
The S&P Global’s latest credit rating report is a vote of confidence in the Philippine economy. It highlights the nation’s resilience in navigating this year’s challenges and affirms the potential for stronger growth in the medium term.
See “Villar,” A11
T. Anthony C. Cabangon
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GBy Arne Delfs & Colum Murphy
ERMAN Foreign Minister Johann Wadephul claimed progress in efforts to secure supplies of rare earths from China, saying the government in Beijing had indicated it would be constructive in handling European orders for the metals crucial to electronics manufacturing.
Wadephul is on a two-day visit to the Chinese capital and said before the trip he planned to raise the issue of trade curbs, especially on rare earths, as well as “overcapacities” in electric vehicles and steel with senior officials there.
After a meeting Monday with Commerce Minister Wang Wentao, Wadephul posted a message on social media saying the talks were “very constructive” and the two nations are committed to “balanced economic relations.”
“At the same time, it is important to address imbalances and bridge differences, such as those related to market access and trade restrictions,” Wadephul, a member of Chancellor Friedrich Merz’s Christian Democrats, wrote. He also held separate meetings with his counterpart Wang
Yi and Vice President Han Zheng, part of preparations for a visit to China by Merz expected sometime early next year.
Speaking later Monday to reporters, Wadephul said his Chinese interlocutors were encouraging German and European companies to apply for “general licenses” to import rare earths sourced in the Asian nation.
Beijing recently restricted exports of the minerals — critical to modern technology and military equipment — forcing global industry leaders to confront their excessive reliance on Chinese supplies.
“China has assured us that it will handle these requests very constructively and that there are no intentions to burden German companies with more problems,” Wadephul said. “I think that’s a good offer and
encourage German firms to follow up on that.”
According to a statement from the commerce ministry in Beijing, Wang told Wadephul that China attaches importance to Germany’s concerns over export controls.
The government there has gradually applied a “general licensing” system for rare earths as part of an effort to keep global supply chains stable and smooth, Wang said, according to the statement.
Relations between Germany and China have been strained since Merz took office in May promising to take a tougher line with Beijing. In October, Wadephul abruptly canceled his first official trip to China, citing scheduling issues. Before that he had also criticized China’s “aggressive behavior” around Taiwan, irking Beijing.
Last month, Lars Klingbeil, Germany’s vice chancellor and finance minister, visited China and came away with unenforceable promises on the continued flow of rare earths.
That underscored how vulnerable Berlin now is to Beijing’s leverage and marked the shift in fortunes
between two countries that once vied with one another for the title of the world’s biggest exporter, which China now claims.
The European Union plans to commit at least €3 billion ($3.5 billion) over the next year to help sever its dependence on China. The funding would come from a variety of sources, according to a draft proposal seen by Bloomberg News. Before his trip, Wadephul said he’d broach the subject of Russia’s war on Ukraine and press Beijing to use its influence with Moscow “to ensure that Russia is finally ready for serious negotiations that respect Ukraine’s sovereignty.”
“My clear appeal to the Chinese side remains that it should make clear to Russia that it needs to come to the negotiating table now,” Wadephul told reporters Monday.
“If there’s one country in the world which has influence on Russia then it’s China,” he added. “I have articulated this expectation not only for Germany, but for the whole of Europe, and I think it was heard today in Beijing.” With assistance from Li Liu/Bloomberg
Mark Villar
Bond traders defy Fed and spark heated debate on Wall Street
By Ye Xie & Michael MacKenzie
THE bond market’s reaction to the Federal Reserve’s interestrate cuts has been highly unusual. By some measures, a disconnect like this, with Treasury yields climbing as the central bank lowers rates, hasn’t been seen since the 1990s.
What the divergence indicates is a matter of heated debate. Opinions are all over the place, from the bullish (a sign of confidence that recession will be averted) to the more neutral (a return to pre-2008 market norms) to the favorite culprit of the so-called bond vigilantes (investors are losing confidence the US will ever rein in the constantly swelling national debt).
But one thing is clear: the bond market isn’t buying President Donald Trump’s idea that faster rate cuts will send bond yields sliding down and, in turn, slash the rates on mortgages, credit cards and other types of loans.
With Trump soon able to replace Chair Jerome Powell with his own nominee, on top of everything else is the risk of the Fed squandering its credibility by caving to political pressure to ease policy more aggressively—which could backfire by fanning already elevated inflation and pushing yields higher.
“Trump 2.0 is all about getting long-term yields down,” said Steven Barrow, head of G10 strategy at Standard Bank in London. “Putting a political figure at the Fed will not get bond yields down.”
The Fed started pulling its benchmark rate down from a more than two-decade high in September 2024 and has since cut it by 1.5 percentage points to a range of 3.75 percent to 4 percent. Traders see another quarter point cut after the next meeting on Wednesday as virtually assured and are pricing in two more such moves next year, which would bring its rate to around 3 percent. Yet, key Treasury yields—which serve as the main baseline for the borrowing costs paid by American consumers and corporations—haven’t come down at all. Ten-year yields have risen nearly half a percentage point to 4.1 percent since the Fed started easing policy and 30-year yields are up over 0.8 percentage point.
Normally, when the Fed moves short-term policy rates up and down, long-term bond yields tend to follow. Even in the only two easing cycles outside of recessions over the past four decades—in 1995 and 1998, when the Fed cut only 75 basis points each time—the 10-year yield dropped outright or rose less than they have during the current episode.
Jay Barry, head of global rates strategy at JPMorgan Chase & Co., sees two factors behind it. The scale of the Fed’s hikes during the postpandemic inflation surge was so steep that markets started pricingin the Fed’s about-face well before it started, with 10-year yields peaking in late 2023. That blunted the impact once it began.
Moreover, by slashing interest rates even when inflation remains elevated, he said, the Fed is lessening the risk of a recession, limiting the scope for yields to fall.
“The Fed is looking to sustain this expansion, not end it,” said Barry. “That’s why rates have not moved aggressively lower.”
Others see a less benign interpretation in the so-called term premium, a measure of the extra yield investors demand in return for holding long-term bonds.
That compensates them for potential risks down the line—like elevated inflation or an unsustainable federal debt load. And that premium has risen nearly a full percentage point since the rate-cut cycle began, according to the New York Fed estimates.
For Jim Bianco, president of Bianco Research, it’s a signal that bond traders are worried that the Fed is cutting rates even as inflation remains stubbornly above its 2 percent target and the economy keeps defying recession fears.
Assessment arising from third party information needs re-evaluation
TOne thing is clear: the bond market isn’t buying President Donald Trump’s idea that faster rate cuts will send bond yields sliding down and, in turn, slash the rates on mortgages, credit cards and other types of loans. With Trump soon able to replace Chair Jerome Powell with his own nominee, on top of everything else is the risk of the Fed squandering its credibility by caving to political pressure to ease policy more aggressively—which could backfire by fanning already elevated inflation and pushing yields higher.
“The market is really concerned about the policy,” said Bianco. “The concern is that the Fed has gone too far.” If the Fed continues to cut rates, the mortgage rates will go “vertical,” he added.
There’s also angst that Trump— after breaking sharply from his predecessor’s deference to the Fed’s independence—will succeed in pressuring policymakers to continue cutting rates. Kevin Hassett, the White House National Economic Council Director and a Trump loyalist, is the betting market’s favorite to succeed Powell when his term ends in May.
“If rate cuts increase the likelihood of stronger growth, they won’t be met with lower yields. We’ll end up with higher ones. In many respects, this is because we’re going back to a normal interest rate regime, where 2% real returns and a 2 percent Fed inflation target produces a 4 percent floor for long-term yields. Add in stronger growth and the numbers go higher from there,” said Ed Harrison, Bloomberg Markets Live strategist.
So far, though, the broader bond market has remained relatively stable, with 10-year yields hovering not far from 4% over the past few months. And breakeven rates—a main gauge of the bond market’s inflation expectations—have been stable as well, indicating that fears of a Fed-fueled inflation surge down the line may be overstated.
Treasury Secretary Scott Bessent told CBS’ Face the Nation that the “bond market just had the best year since 2020” and that he expects inflation to “roll down strongly” next year.
The yield on 10-year Treasuries rose one basis point to 4.15 percent at 5:45 a.m. in New York
Robert Tipp, chief investment strategist fixed income at PGIM, said it looks more than anything like a return to the normal levels seen before the Global Financial Crisis, which ushered in a long era of unusually low interest rates that abruptly ended after the pandemic.
“We’re back at the normal level of rates world,” he said.
Standard Bank’s Barrow said the Fed’s lack of control over the longerterm yields reminds him of a similar—if opposite—bind the central bank faced in the mid-2000s that became known as the Greenspan conundrum.
At that time, Chair Alan Greenspan was puzzled why the long-term yields remained low even as he jacked up the short-term policy rate. Greenspan’s successor Ben Bernanke later attributed the conundrum to too much savings from overseas flooding into Treasuries. Today, Barrow said, that dynamic is reversed as governments around major economies are borrowing too much. That saving glut, in other words, has turned into a bond-supply glut that’s keeping consistently upward pressure on yields. Bloomberg
Fulvio D. Dawilan
TAX LAW FOR BUSINESS
HE Bureau of Internal Revenue (BIR) had suspended all audit and other field operations—to give way for a review of the existing audit policies and procedures amidst complaints from stakeholders. Indeed, the whole audit process and its regulatory framework—including the selection of taxpayers for audit, the issuance and implementation of letters of authority, the issuance of findings and audit notices and the collection mechanisms—need recalibration.
Perhaps, one concern that needs thorough review relates to the use of third-party information as basis for assessment. One of the common suspects in an assessment process and the usual source of deficiency tax assessment are the discrepancies noted during examinations. These discrepancies may be uncovered through the use of third-party information—that is, from suppliers or customers or information gathered from other government agencies—either through the Reconciliation of Listings for Enforcement (RELIEF) System or simply through the comparison of information declared by the parties in their respective reports.
The pattern is clear. An assessment is almost certain whenever there are discrepancies noted through the use of third-party information—regardless of which or whose report shows the higher or lower amount. To give context to this, imagine a VAT-registered buyer being the subject of an examination. If its summary list of purchases indicate higher amount compared to the sales declared by the seller, overclaimed costs of purchases and input taxes will be attributed to it and necessarily disallowances will result in deficiency income tax and VAT assessments. Similarly, if the summary list of purchases shows a lower amount compared to the sales declared by the seller, deficiency taxes are still
imposed. Usually, the difference between a lower amount reported by a taxpayer in its summary list of purchases and a higher amount reported by a supplier in its summary list of sales is treated as unrecorded purchases resulting in an unrecorded income. The BIR had coined a phrase for this—“unaccounted source of cash resulting in an unaccounted income” or “unreported purchases or expenses resulting in an unreported income”—to justify the imposition of deficiency income tax and VAT. This approach is dangerous because it always attributes error on the part of the party being examined, even if the supposed discrepancy is attributed to the third party. It presumes that the declaration of the other transacting party is correct and the declaration of the taxpayer who is the subject of the examination is incorrect.
And this situation is not isolated. A review of the recent decisions of the Court of Tax Appeals would show the presence in almost all assessment cases, of deficiency taxes arising from the comparison of a taxpayer’s records versus the information gathered from other parties. And the verdict is also very clear.
For the use of third-party information, the Courts had consistently ruled that the use of unverified/unconfirmed information from third party sources does not result in a valid assessment. An assessment must be based on verified facts and
substantiated by evidence. An unverified third-party information cannot serve as a proper factual basis. As such, the BIR should not rely on unverified third-party information for tax assessment.
Despite clear verdict against the use of unverified third-party information in determining the correctness of tax payments, the BIR continues to use the same. And the burden is shifted to the taxpayer to reconcile the difference. Why give that burden to the taxpayer when it should not be doing it in the first place? Yet if the taxpayer fails to do the reconciliation or the reconciliation is not acceptable, the assessment is pursued. I believe that if the BIR fails to establish the correctness of the third-party data through verification, the same should not be included in the computation of deficiency taxes and avoid further burden to the taxpayer. Zeroing in on the undeclared costs or purchases or unaccounted source of case being treated as undeclared income, I believe this should never be part of an assessment. The Courts had consistently declared that an undeclared or under-declaration of purchases, expenses or other disbursement does not, by itself, result in the imposition of income tax and VAT. Non-declaration or underdeclaration of purchases, costs or expenses is not equivalent to or does not give rise to undeclared income. Simply put, a cost or expense is not equivalent to income—and so no income can be subjected to taxes.
Apparently, the imposition of tax on a supposed unrecorded cost of purchase or other expenses proceeds from the presumption that if there is an unrecorded cost or expense, there is also an unrecorded income. It does not follow. The Courts had affirmed a number of times the three elements in the imposition of income tax: (1) there must be gain or profit; (2) the gain or profit is realized or received, actually or constructively; and (3) it is not exempted by law or treaty from income tax. It is not when there is an underdeclared purchase or expense, but only when there is an income, and such income was received or realized
by the taxpayer, that an imposition or assessment of income tax is proper. Clearly, there is no basis for equating an expense to income. As such, even if there is undeclared purchases or expenses, the same does not give rise to taxable income. In fact, the Courts has also recognized rights of taxpayers to claim deductions lower than what they are rightfully entitled to. They should not be penalized for doing so.
L et me add that the old case of Perez vs. CTA & CIR, L-10507, May 30, 1958, usually cited by the BIR as legal basis for the imposition of income tax and VAT on alleged undeclared expenses or purchases is inapplicable. The income tax assessment in that case was made on the basis of the net worth method of assessment. The basic concept of this net worth method of determining income is that any increase in taxpayer’s net worth constitutes taxable income. Thus, what is being compared is a beginning net worth and the ending net worth. Certainly, this finds no application in an alleged discrepancy between a taxpayer’s declaration and that of another taxpayer. These are just among the concerns related to the use of third-party information. Concededly, the use of third-party information as basis for assessment is not prohibited. It has legal basis. In fact, the Courts have recognized the use of this tool as aid in the determination by the BIR of the correctness of tax payments. But the Courts had also cancelled various assessments arising from use of third-party information more than they have sustained. Use it in proper situations and avoid further burdens to taxpayers.
The author is a managing partner of Du-Baladad and Associates Law Offices (BDB Law) (www. bdblaw.com.ph).
The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal, or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported, therefore, by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at fulvio.dawilan@ bdblaw.com.ph or call 8403-2001 loc 310.
US, India seek to reset ties as trade deal remains elusive
By Shruti Srivastava & Sudhi Ranjan Sen
TWO separate US delegations are in New Delhi this week to hold talks with their Indian counterparts, seeking to repair bilateral ties even as a trade deal remains elusive.
Allison Hooker, undersecretary of state for political affairs, will meet senior Indian officials including Foreign Secretary Vikram Misri during her visit from December 7-11, the US embassy announced on the weekend. A separate delegation led by Rick Switzer, deputy US trade representative, is expected to arrive Tuesday. Officials in New Delhi familiar with the matter said they don’t expect the scheduled talks to result in any immediate announcement of a trade deal. However, the meetings signal that both sides are keeping communication channels open and are willing to keep the broader relationship on track, the people said, asking not to be identified because the discussions are private.
President Donald Trump slapped 50% tariffs on Indian goods in August to penalize it for its trade barriers and purchases of Russian oil. Since then he’s sanctioned two of Russia’s biggest oil producers, forc-
continued from A10
The Department of Economic, Planning and Development (DEPDev) also assessed that domestic fundamentals remain strong. Secretary Arsenio Balisacan notes that price increases remain manageable, the labor market is robust and the
ing refiners in India to seek alternate sources.
Although Trump has since toned down his rhetoric, saying in November he’ll reduce tariffs “at some point,” he remains critical of India’s trade practices. At the White House on Monday, Trump signaled he could take action against the South Asian nation for alleged dumping of Indian rice into the US marketplace.
“They shouldn’t be dumping,” Trump said. “I mean, I heard that, I heard that from others. You can’t do that.”
Putin’s visit
THE US visits come days after Russian President Vladimir Putin’s high-profile trip to India last week to deepen economic ties and showcase his longstanding ties with New Delhi, despite Trump’s pressure.
Switzer is expected to be in India from Dec. 9-11 along with the chief trade negotiator, Brendan Lynch,
banking system is healthy, facilitating continued consumption and investment growth.
These solid fundamentals provide critical buffers for policymakers, allowing them to respond decisively and flexibly to emerging risks during times of uncertainty.
The US visits come days after Russian President Vladimir Putin’s high-profile trip to India last week to deepen economic ties and showcase his longstanding ties with New Delhi, despite Trump’s pressure.
people familiar with the matter said, to advance negotiations on a broad trade agreement. India’s commerce secretary said recently he was optimistic the two sides could clinch an agreement on the first tranche of the deal, which covers the tariff rates, before the end of the year.
India’s Ministry of Commerce and Industry and Ministry of External Affairs didn’t immediately respond to requests for further information.
Officials in New Delhi pointed out that both sides continue to engage at an institutional level, including holding annual military exercises in Alaska in September and discussing security matters at the US-India 2+2 Intersessional Dialogue in August. Last week, the two nations conducted a joint working group meeting on counter-terrorism.
Analysts tracking India-US relations say the nations are making
Secretary Balisacan assured that the government will prioritize social protection programs to assist disaster-affected citizens in their recovery, which is expected to stimulate economic growth.
efforts to bring bilateral ties on an even keel after months of tensions.
“Both sides are trying to move beyond where the relationship was, and after tariffs were imposed, there have been sustained high-level negotiations between the two,” said C. Raja Mohan, a visiting professor at the Institute of South Asian Studies at the National University of Singapore.
Mohan said the engagement shows that the two nations are working on overcoming the “current bumps in the road.”
India-US relations have also soured because of Trump’s assertions he brokered a ceasefire between India and Pakistan during the four-day conflict in May and used trade as a bargaining chip. New Delhi has repeatedly rejected the claims. While the latest talks are a positive sign, there’s still no clarity on the trade deal.
Ajay Srivastava, founder of New Delhi-based think tank Global Trade Research Initiative, said the US should show “goodwill” by removing the 25 percent penalty tariff imposed on India because of its oil purchases from Russia. “The trade deal is the next step,” he said. Bloomberg
For Mr. Balisacan, the combination of strong macroeconomic fundamentals and ongoing structural reforms is establishing a foundation for an economy characterized by flourishing investments and inclusive progress for all Filipinos. With credit affirmation from S&P Global Ratings and a focus on structural reforms and social protection, the country is keeping its macroeconomic fundamentals resilient. The solid foundation supports the government’s trajectory toward higher and inclusive growth.
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Villar. . .
Wednesday, December 10, 2025
9-MO LOANS TO MSME UP 7.1%, SIGNAL STEADY RECOVERY
By Reine Juvierre S. Alberto
LOANS extended by Philip -
pine banks to micro, small and medium enterprises (MSMEs) increased to P536.51 billion as of September 2025, according to the Bangko Sentral ng Pilipinas (BSP).
Data released by the BSP showed bank lending for MSMEs grew by 7.12 percent year-onyear to P536.51 billion as of endSeptember 2025 from P500.809 billion. The amount corresponded to only 4.45 percent of the P12.048 trillion total loan portfolio of all banks in the country.
“It reflects steady recovery in business activity, especially in retail, food, logistics, and service sectors that tend to expand ahead of the holiday season,”
John Paolo R. Rivera, senior research fellow at state-run Philippine Institute for Development Studies, said.
Compared to the pandemic years, Rivera said banks have become more willing to lend as MSMEs show better cash flow and repayment performance.
Micro and small enterprises were loaned a total of P225.17 billion as of September 2025, which accounts for 1.87 percent of the Philippine banking system’s loan books.
Meanwhile, loans to medium businesses were slightly higher at P311.34 billion, or 2.58 percent of all banks’ loan portfolios.
Rivera said medium enterprises received the largest share because they are generally more bankable as they have stronger financial statements, better collateral and clearer expansion plans. This makes lenders more confident to extend credit, he added. “In contrast, micro and small firms remain more cautious and face stricter borrowing requirements, so their loan uptake grows more slowly,” Rivera said.
Previously, banks were mandated to allocate at least 8 percent of their loan portfolios to MSMEs.
Under Section 18 of the amended Magna Carta for MSMEs or Republic Act (RA) 9501, MSMEs are entitled to be given mandatory allocation in the credit resources of all lending institutions as defined under BSP rules.
Still, the BSP said it continues to monitor banks’ MSME lending through quarterly exposure reports submitted by banks as part of its supervisory oversight and policy development. BSP data further showed that most of the financing was provided by universal and commercial
BusinessMirror
FPI: PHL may miss the boat in region’s industrial boom
By Andrea E. San Juan @andreasanjuan
THEPhilippines risks slipping further behind its Asian neighbors in the region’s “industrial boom” unless education reform and industrial policy will move in tandem, according to the Federation of Philippine Industries (FPI).
“The Federation of Philippine Industries [FPI] strongly support both Secretary Sonny Angara’s education reforms and the administration’s Tatak Pinoy industrial strategy and stress that the two must move in lockstep to rebuild national competitiveness,” FPI said in a statement on Tuesday.
FPI Chair Elizabeth H. Lee said education and industry are “mutually reinforcing engines” of growth.
“Tatak Pinoy provides the blueprint for upgrading Philippine industries. Angara’s reforms ensure we have the skilled workforce to power that transformation. Without both, we cannot close the widening gap with Asia,” added Lee.
Lee said education reforms spear-
headed by Education Secretary Juan Edgardo “Sonny” Angara are the “frontline solution” in addressing the demands of the industries.
Lee said these reforms are crucial to supply the skilled workforce that local industries require: Upgrading teacher training, modernizing curricula, and strengthening technicalvocational pathways.
“This can help temper the country’s shortage of industry ready talent with updated skills, and increased innovation capacity,” the business group said.
Meanwhile, FPI underscored the importance of the Tatak Pinoy Act of Republic Act No. 11981, saying this provides the “blueprint” to modernize
DOE: Energy security is a national imperative
EBy Lenie Lectura
@llectura
NERGY security is just as important as energy supply, an official of the Department of Energy (DOE) said on Tuesday.
DOE Undersecretary Mylene Capongcol, who delivered the keynote speech of DOE Secretary Sharon Garin, said during the 2025 Energy Security Forum in Pasay City that energy security is linked with the realization and execution of investment in the energy sector.
“Energy security will ultimately be determined not only by how many megawatts we approve— but by how resilient, integrated, and investable our entire energy
supply chain becomes. Generation alone is not enough. We must urgently direct capital toward ports, transmission, energy storage, system flexibility, domestic manufacturing, critical minerals processing, and last-mile infrastructure.
These backbone investments, Capongcol said, are meant to strengthen system resilience, accelerate project execution, and anchor long-term energy security.
“This forum is not just a platform for discussion—but a call to deploy capital where it matters most for national stability and climate resilience. Let us align public policy, private financing, and technical execution so that the Philippines does not merely transition—but
would secure its energy future,” the DOE official stressed.
Currently, the world’s most disaster-prone country, Capongcol said energy security is no longer a technical aspiration—it is a national imperative. “Every destruction and fuel supply, every spike in global prices and every extreme weather event directly threatens our economy, our communities and most vulnerable citizen.
Typhoons, floods, heat waves and droughts increasingly test not only our infrastructure but our national resilience as well.
Our task is clear: to ensure that our energy system is secure, affordable, reliable and climate resilient. And that the investment we have attracted are fully executed, bank-
able and delivered on the ground,” she said.
The Philippine Energy Plan sets an ambitious target of achieving 35 percent renewable energy share in the power generation mix by 2030 and increase it to 50 percent by 2050. Clean energy scenarios one and two include new and emerging technologies such as offshore wind (OSW), liquefied natural gas, nuclear energy.
The DOE said OSW alone presents a transformative opportunity, with 19 gigawatts (GW) identified under initial targets and up to 50 GW under our clean energy scenarios.
The agency also said that it has recorded over 120 MW of indicative and committed RE capacity.
manufacturing and boost innovation.
“Together they form the twin engines that can power the Philippines into high value, globally competitive growth,” FPI said in its statement on Tuesday.
The Tatak Pinoy Act is a measure that intends to encourage, support, and promote the production and offering of Philippine products and services of increasing diversity, sophistication, and quality by domestic enterprises that are globally competitive.
“Tatak Pinoy tells us what we need to become. Education reforms ensure we have the skilled people who can actually build it,” Lee said.
With Tatak Pinoy setting the direction and education reforms supplying the talent, FPI said the Philippines has a chance to catch up with Asia’s industrial boom.
FPI underscored the importance of these reforms as it highlighted that industrialization is driving “rapid gains” across Asia.
Citing Asean Secretariat and the United Nations Conference on Trade and Development (Unctad), FPI said across the region, Asean attracted a record $230 billion in FDI in 2023, “cementing its position as the largest developing region magnet thanks to robust manufacturing hubs in Indone-
sia, Malaysia, Thailand, and Vietnam.”
Manufacturing vs services WITH this, FPI explained the importance of the role of manufacturing in the country against the services sector.
According to FPI, the Philippines’ services sector may have grown by 6.3 percent in the first quarter of this year, largely in retail and repair, describing this growth “steady but limited in wages and innovation.”
By contrast, the umbrella organization of Philippine manufacturers said industrialization “unlocks high value jobs, stronger incomes, and global competitiveness.”
“Services provide stability, but industry delivers prosperity. That’s the leap our neighbors have made, and it’s the leap we have to take,” Lee said. Earlier stories published by the BusinessMirror presented the glaring differences between the services and manufacturing sectors.
HSBC Asian Economist Ines Lam said at an earlier forum this year that the Philippines’ unique value proposition is its people.
“I’m not saying that manufacturing is not important, but because the Philippines has already found its uniqueness, its comparative advantage, I think
See “FPI,” A2
Daily power outages in award-winning Boracay ‘unacceptable’, says DOT
By Ma. Stella F. Arnaldo Special to the BusinessMirror
JUST fresh from its recent honor at the World Travel Awards (WTA), Boracay Island has been experiencing daily power outages since December 4.
Tourism Secretary Christina Garcia Frasco, in a Viber message to the BusinessMirror, described the situation as “unacceptable,” adding that she had already “reached out to [Energy] Secretary Sharon Garin as we recognize the urgent need for intervention and especially to hold the provider and distributor to account, to ensure reliable power supply.”
She added that, “This is also part of our request for intervention to DOE [Department of Energy], which we relayed back in 2023. We will continue to follow up.”
Boracay was recognized anew as the World’s Leading Luxury Island Destination by the World Travel Awards 2025 held in Bahrain over the weekend. The country beat out Jersey Island in the English Channel, Mustique in St. Vincent and the Grenadines, and the Bahamas (See, “PHL scores big, gets WTA honors for diving, city, island destinations,” in the BusinessMirror, December 9, 2025) According to the Boracay Informer, the island suffered a five-hour power outage on December 4, from 8:22 pm to 1:08 am the next day, then in the evening of December 5 from 8:35 pm to 12:58 am the next day.
Since then, however, “[the outages have] been daily,” said island resident and environmentalist Nenette
A. Graf. “There was an unscheduled power outage from 6 pm last night [December 8] to 2:30 am this morning. There have been many brownouts in the previous days.”
While most businesses on the island have generator sets, “It’s costly,” she said. “Diesel is expensive, so it’s an additional hit on our pockets.” Like other island residents, Graf has appealed to government officials for help to find a more permanent solution to the island’s power issues.
“Boracay is facing a serious power crisis due to NGCP [National Grid Corp. of the Philippines]-related issues and it’s hurting our recovering tourism sector right before the Christmas peak. We urgently call on Tourism Secretary Frasco or even President Bongbong Marcos to step in immediately. This needs action now SOS!” Graf posted on Facebook. It would be recalled that last September, Boracay was plunged in darkness due to a tripped transmission line. A temporary solution was put in place to restore the power after three days of darkness, which resulted in an estimated P300,000 in losses for businesses on the island (See, “BROWNOUT IN BORACAY | 3-day outage hits beach paradise, in the BusinessMirror, September 15, 2025) Boracay Foundation Inc. Chair Dindo Salazar said, based on the information his group has received, the daily power outages have been caused by “high tide, as the temporary [transmission] line is splashed with water and shuts down.” BFI is the pioneering group of tourism stakeholders on Boracay. The Aklan Electric Cooperative (Akelco), which has received most of the public’s lashing for the power outages, said on Facebook that, “We understand the frustration caused by the recurring power interruptions, and we sincerely thank everyone for their patience and understanding.” It underscored though that “the damaged transmission line currently under repair is not owned by Akelco—it is an NGCP-owned facility. However, to help fast-track the restoration and minimize the impact on our communities, Akelco linemen are working side by side with NGCP line workers on the ground.” Salazar, citing the Energy Regulatory Commission’s (ERC) resolution of Case No. 2017-093 RC, said the former approved NGCP’s proposed Nabas-Caticlan-Boracay Transmission Project in a meeting in November 2024.
on
Editor: Jennifer A. Ng
Companies
BusinessMirror
B1 Wednesday, December 10, 2025
SEC to Facebook, Google: Delete scammers’ websites
By VG Cabuag @villygc
THE Securities and Exchange Commission (SEC) said it will talk directly with social media platforms, such as Facebook, messaging applications such as Viber and also Google to take down malicious websites promoting investment scams and other fraudulent activities.
SEC Commissioner Rogelio Quevedo said the problem of online scams, which has even targeted educated people, is now “very serious.”
Quevedo said the crisis has reached the scale of drug syndicates in the region.
The SEC has already signed sign an agreement with TikTok first
and that it is set to sign similar deals with other platforms.
Quevedo said the regulator will sign memoranda of agreement with other platforms until the end of the first quarter of next year.
“As I said, if you did not join anything, then do not expect that your money will just double. And I have seen victims send money (to scammers), not only once, not only twice, but about five times,” Quevedo, a former telecommunications executive, said.
He said the SEC is communicating directly with platforms as the SIM card registration has failed to curb digital crimes such as scams, phishing and fraud.
“Why are they allowing 1,000 sim cards to be registered under just one person,” he said.
Quevedo said when the government banned Philippine offshore gaming operators, the syndicate is now operating in the so-called Golden Triangle, which refers to the country’s Southeast Asian neighbors—Laos, Cambodia and Myanmar.
“And apparently this is now a target also of the Interpol. So, we are cooperating with Interpol. This is now an international syndicate operating with the latest in technology. So, this is a matter not only for SEC or our NBI [National Bureau of Investigation] or PNP (Philippine National Police). But this is already a matter for the Interpol,” he said.
The syndicate, he said, recruits or kidnaps Filipinos to man these investment scams and also other forms of fraud, such as love scams.
Ford, Renault team up for budget EVs
FORD Motor Co. is turning to Renault SA to make affordable electric cars in Europe as both manufacturers come under rising pressure from Chinese manufacturers expanding in the region. Renault will help develop and produce two Ford-branded models in northern France, with the first vehicle expected to reach showrooms in early 2028, the companies said Tuesday. They also agreed to explore jointly making vans.
“The reality of the car business is it takes capital and you have to be competitive on cost,” Ford Chief Executive Officer Jim Farley told reporters during a briefing in Paris. “These are just building blocks to make a successful business in Europe.”
Automakers in Europe are trying to become more competitive as the likes of BYD Co. expand in the region with low-cost electric and hybrid models. At the same time, they’re tapping Chinese technology
expertise to move faster for less. Renault has relied on its Shanghai R&D center to develop the electric Twingo, which will be available for below €20,000 ($23,299) by next summer. Renault shares rose as much as 2.5 percent in Paris. The stock is still down around a fifth this year. For Ford, the move may signal a further reduction of its own production footprint in Europe as the company cuts output and staff in a region that has long lagged its North American arm.
At its plant in Cologne, Germany, where Ford makes EVs based on a Volkswagen AG platform, the automaker is letting go hundreds of workers and plans to move to a single production line, from the current two, beginning in 2026, it said in September. It’s already stopped making cars at a German factory in Saarlouis.
Instead, Ford is turning to part -
nerships to share costs and production for what it promises will be a “new product offensive” in Europe. Farley said the American automaker will not be a full-line manufacturer, as it has been in the past, but instead focus on car categories where it believes it has a competitive advantage. “We will select where we compete very carefully,” the CEO said.
Manufacturers are rethinking EV strategies after their initial efforts stumbled because of a dearth in charging infrastructure and models that proved too expensive. After intense industry lobbying, the European Union may walk back its de-facto ban of combustion-engine car sales slated for 2035 due to a slower-than-expected shift to EVs. An update from Brussels is expected for later this month.
“The approach to regulation— mandate it and they will buy it—has failed,” Farley said Monday in a com-
mentary published by the Financial Times. At the same time, “we face a flood of state-subsidized EV imports from China, structurally designed to undercut European labor and manufacturing.”
Meanwhile, automakers are trying to correct their mistakes by offering cheaper EVs. Stellantis NV in November said it boosted output of Citroëns due to strong demand for the affordable C3 city car. VW is preparing budget EVs including the ID. Polo, which is expected to be priced below €25,000 when it goes on sale next year.
Aside from cooperating on EVs, Ford and Renault intend to work together also on developing and producing vans for both brands.
“There is no other choice than to share resources,” Renault CEO Francois Provost said at the same briefing, adding that Europe’s light commercial vehicle market is “core” for both partners. Bloomberg News
Cebu Pacific will start flights to Riyadh in March
By Lorenz S. Marasigan
B@lorenzmarasigan
UDGET carrier Cebu Pacific will launch direct flights between Manila and Riyadh starting March 1, targeting Filipino migrant workers in Saudi Arabia with more affordable travel options.
The Gokongwei-led carrier will operate the route four times weekly, with Manila-Riyadh flights scheduled on Mondays, Wednesdays, Fridays, and Sundays. Return flights from Riyadh to Manila will depart on Mondays, Tuesdays, Thursdays, and Saturdays.
“Our OFWs in Saudi Arabia and the Middle East make tremendous sacrifices to support their families and contribute to the Philippine economy,” Cebu Pacific President Xander Lao said. “Launching our Manila–Riyadh service is one way we honor their hard work, making it easier and more affordable for them to fly home.”
He said passengers can save “up to 57 percent” on roundtrip fares compared to other travel options. To mark the route launch, Cebu Pacific is offering a seat sale from December 9 to 13 with promotional one-way base fares starting at P1, exclusive of surcharges and fees, for travel between March 1 and October 28, 2026.
Riyadh becomes the fourth longhaul destination in Cebu Pacific’s in-
Novartis strikes $1.7-B deal with UK biotech
NOVARTIS AG will pay UK biotech Relation Therapeutics Ltd. as much as $1.7 billion to help find drug targets to treat allergic diseases.
The deal aims to combine Novartis’s expertise in immuno-dermatology with the British firm’s drug discovery AI platform, which uses patient data including from human tissue to unpack the genetic basis for how diseases present, Relation’s Chief Executive Officer David Roblin said in an interview.
Relation, whose investors include DCVC and Nvidia Corp.’s venture capital arm NVentures, will receive an initial $55 million, consisting of an upfront payment, equity investment and R&D funding. It is also eligible for milestone payments of as much as $1.7 billion, as well as tiered royalties on sales of products, Relation told Bloomberg in a statement.
Novartis has been on a deal spree this year, including the $12 billion acquisition of Avidity Biosciences –its largest in more than a decade. The Swiss drugmaker needs to boost sales beyond 2025 as it’s facing competition from cheaper generics for three key drugs, including its top-selling heart medicine Entresto.
Atopic diseases, which result in an allergic reaction caused by the immune system not functioning cor-
ternational network, joining Dubai, Sydney, and Melbourne.
The airline operates flights to 37 domestic and 27 international destinations across Asia, Australia, and the Middle East.
In another development, Cebu Pacific expects to take delivery of seven aircraft in 2026, including five narrowbody and two widebody planes, according to Lao.
The airline projects capacity growth of 6 percent to 10 percent next year.
The carrier said it has made prog-
ress in addressing supply chain disruptions that affected its fleet. Aircraft on ground due to maintenance issues have fallen to single digits from 14 earlier this year, Lao said.
“The supply chain challenges have gotten better,” he said. “We do think that we will continue to grow (seat capacity) within the range of 6 percent to 10 percent. Now, that could change if the Pratt & Whitney situation improves. We do think that there will be more capacity for growth moving forward.”
Pratt & Whitney supplies the
engines for Cebu Pacific’s fleet of Airbus jets. Since 2023, the engine manufacturer has been struggling to support its airline customers with enough spare parts and engines due to global supply chain issues.
Despite the setback, Cebu Pacific ordered 152 jets from Airbus equipped with Pratt & Whitney’s GTF engines in 2023, a deal that is touted as the “largest aircraft order in Philippine aviation history.”
Currently, Cebu Pacific has 99 aircraft, serving 37 domestic and 26 international destinations.
PAG -IBIG received the Best Sustainability Initiatives Award at the 2025 Governance Commission for GOCCs (GCG) Awards Ceremony held Monday, Dec. 1, in Parañaque City.
The award recognizes the agency’s efforts to integrate sustainability values and responsible practices across its programs, services, and internal operations.
Department of Human Settlements and Urban Development (DHSUD) Secretary and Pag-IBIG Fund Board Chairperson Jose Ramon P. Aliling said the recognition highlights Pag-IBIG Fund’s dedication to responsible governance and meaningful public service.
“We are truly grateful for this honor from the GCG. Receiving this award affirms our commitment to embedding sustainability in every aspect of our work,” Aliling said. “It reflects the progress we have made from the way we manage our resources, to how we serve our members, and to how we support the country’s development goals under the leadership of President Ferdinand R. Marcos Jr. We are proud to contribute to a governance environment that upholds accountability, operational efficiency, and sustainable nation building.” Pag-IBIG Fund has strengthened its sustainability measures in recent years, particularly by expanding access to affordable and resilient housing through responsible lending and the Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program. The agency has also accelerated digital transformation initiatives to reduce paper use, lessen branch foot traffic, and improve service efficiency.
rectly, affect hundreds of millions of people around the world, according to Relation. The company is focused on identifying causal genes more quickly and nominating targets for drug discovery and development which are more likely to make it through trials.
Among drugs that enter phase 2 trials, 75 percent fail because of lack of efficacy or safety, according to Roblin. “That fundamentally means that you didn’t understand the biology well enough at the start,” he said. Talks with Novartis began at JP Morgan’s annual health-care conference, Roblin said, after he bumped into Novartis’s president of biomedical research, Fiona Marshall. “This idea of doing something in immunology and allergy emerged, and over the past year we’ve been building a research plan with them.” Relation previously agreed a similarly structured deal with GSK Plc in 2024.
Earlier this year, Novartis agreed to buy Tourmaline Bio Inc. in a $1.4 billion deal, gaining access to a promising treatment to reduce systemic inflammation. It also agreed to buy US biotech Regulus Therapeutics for as much as $1.7 billion and added to its cardiology portfolio with the acquisition of US biotech Anthos Therapeutics to gain a preventative stroke medicine. Bloomberg News
Supporting greener housing options, Pag-IBIG Fund also allows members to avail of housing loans for the purchase or installation of solar panels, either as part of home improvement or as a built-in feature of newly acquired units. This enables members to invest in clean and costefficient energy solutions. The agency also provides additional appraisal consideration for housing projects of its accredited developers that incorporate green or energy-saving features.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the award reinforces the agency’s mission to deliver programs that are sustainable, impactful, and responsive to the needs of Filipino workers.
“We will continue to champion sustainability as we help Filipino workers build a better future through meaningful savings and affordable home financing,” Acosta said. “We are deeply grateful to the GCG for this honor because it strengthens our resolve to serve with greater purpose. This recognition further inspires us to remain steadfast in fulfilling our mandates with service excellence, integrity, and sustainability. As Lingkod Pag-IBIG, helping our members achieve better and more dignified lives is not just our duty - it is our way of life,” Acosta said. The award comes at a meaningful time as Pag-IBIG Fund marks its 45th anniversary on Dec. 14, celebrated
XANDER
NOVARTIS AG campus in Basel. PHOTOGRAPHER: STEFAN WERMUTH/BLOOMBERG
FINEX FREE ENTERPRISE
Conchita L. Manabat
“All highly competent people continually search for ways to keep learning, growing, and improving. They do that by asking WHY. After all, the person who knows HOW will always have a job, but the person who knows WHY will always be the boss.”
T—Benjamin Franklin
HIS is the time of the year when most of us look back and plan for the coming year. More often than not, the basic question is WHY?
As one ponders, it may be good to consider the macro level. A quick technology-aided search yielded the following WHYs on the global scene—
1. Why are global economic inequalities persisting?
2. Why is climate change still a pressing issue?
3. Why do conflicts and wars continue to plague certain regions?
4. Why is there a growing distrust in institutions and governments?
5. Why are pandemics and health crises becoming more frequent?
6. Why is migration and displacement a persistent issue?
7. Why is the global governance system struggling to address pressing issues?
On the domestic front, the following registered –
1. Why is poverty and inequality still prevalent in the Philippines?
2. Why is corruption still a major issue in the Philippines?
3. Why is the Philippines prone to natural disasters?
4. Why is traffic congestion and urban planning a persistent problem in major cities?
5. Why is the education system struggling to provide quality education?
6. Why is the healthcare system facing challenges in providing accessible and affordable healthcare?
7. Why is the Philippines still struggling with issues related to human rights and press freedom? There are “common” WHY’s in the global and domestic fronts. Top three may be highlighted—inequality, climate change impact, and governance. Can we say, our major domestic concerns parallel the global’s? If so, the how’s and the what’s may represent aligned issues.
With the foregoing as backdrop, on a personal level, what is one’s top WHYs?
If one can identify his/her WHYs, the WHATs and HOWs follow. In doing so, one may have a better vision of what to do.
Wishing all a Happy Christmas & a Blessed 2026!
Conchita L. Manabat is an incorporator and the president of the Development Center for Finance, an incorporator and Trustee of San Carlos School of Cebu Inc., and a Trustee at the Coalition of Services for the Elderly. She is an incorporator of and Lifetime Fellow at Institute of Corporate Directors. She is a member of the Stakeholder Advisory Council of the International Federation for Ethics & Audit (IFEA), and she chairs the Advisory Council of the International Association of Financial Executives Institutes (IAFEI). The views she expressed herein do not necessarily reflect those of the BusinessMirror’s
IN the fast-moving world of sports betting, a few seconds can mean everything. On Crypto.com’s prediction market, those seconds now belong to the pros. Crypto.com, one of the first US regulated exchanges to offer contracts tied to sports events, has put up documentation on its website explaining that customers will face a three-second delay when they place a wager on the outcome of sports games.
The disclosure clarifies that
DOF backs bill extending tax amnesty
By Reine Juvierre Alberto @reine_alberto
THE Department of Finance
(DOF) is pushing for the extension of the estate tax amnesty until 2028 purportedly to provide relief to families settling their obligations on inherited properties.
In a statement on Tuesday, the DOF said it is backing House Bill 6614, which the House Committee on Ways and Means approved on
THE Social Security System (SSS) announced it has credited a total of P18.8 billion to over 3.6 million pensioners as part of its annual 13th-month pension payout to give retirees extra cash for the holiday season.
A statement that the state-run SSS issued last Tuesday read that the first batch of the payout was released on December 1 to around 2.13 million pensioners, with a total value of P10.5 billion credited to their accounts.
The second batch, credited on December 4 covered some 1.53 million pensioners and amounted to P8.3 billion.
According to SSS, this year’s 13thmonth pension is higher for pensioners as of August 31, 2025, following
By Manuel T. Cayon @awimailbox Mindanao Bureau Chief
DAVAO CITY—Depositors of closed banks may not need to file claims to retrieve their deposits, the Philippine Deposit Insurance Corp. (PDIC) said, pointing at its move that expanded the options to reimburse them.
The PDIC last week said it has expanded the option for depositors of closed banks who are eligible for outright payment to reclaim their deposit without filing insurance claims.
“Closed bank depositors who are individuals or registered entities with outstanding balances of up to P500,000 and who are neither borrowers, co-makers, nor spouses of borrowers are not required to file deposit insurance claims,” it said.
Provided that their addresses in the closed banks’ records are complete and updated, these depositors automatically receive their insured deposits from the
THE Federal Reserve may have to turn to quantitative easing to lower long-term borrowing costs if bond markets start to question the independence of the next chairman, according to Man Group. Investors only have to look at what happened in the UK when traders sold off gilts in 2022 due to a lack of confidence in the economic policies of then-Prime Minister Liz Truss, said Kristina Hooper, chief market strategist at the world’s largest publicly traded hedge fund group. UK borrowing costs have been
the delay will not apply to market makers on the exchange, who are often professional traders. This could allow those sophisticated players to change the prices they are offering ahead of any quick moves made by other customers on the exchange, particularly those present at live events who can see odds-shifting moments before everyone else. Separately, Kalshi Inc., another leading prediction market
November 26.
The measure would allow heirs, administrators and beneficiaries to pay long-overdue estate taxes without penalties, surcharges or interest, and give them the option to settle dues in installments for up to two years.
“This will maximize the use of idle assets and boost productivity,” Finance Secretary Frederick D. Go was quoted as saying in the statement.
Imposed under the National Internal Revenue Code (NIRC), estate tax is a one-time payment for the legal transfer of ownership of a deceased person’s assets to their lawful heirs and beneficiaries.
The proposed estate tax amnesty will extend the availment period until December 31, 2028, and expand the coverage to the estates of individuals who died on or before December 31, 2024.
It likewise permits paying the amnesty tax in installments, spreading over one year from the issuance of the Acceptance Payment Form.
Noncompliance with the requirements, however, will subject the estate to the penalties and surcharges imposed under the NIRC.
The extension is among the priority measures identified by the Legislative-Executive Development
the implementation of the Pension Reform Program in September.
Under the program, a 10 percent increase is granted to retirement and disability pensioners, while providing a 5 percent hike to survivorship pensioners to strengthen their financial security.
The 13th-month pension is automatically credited to the accounts of all qualified SSS beneficiaries receiving retirement, disability or survivorship pensions.
The SSS reminded pensioners that their bank details must be updated to avoid delays in future payouts.
SSS President and CEO Robert Joseph M. de Claro said the annual cash gift is part of SSS’s commitment to support its pensioners during the holiday season.
“This is our way of giving back to our pensioners who have contributed to the System during their productive years. We hope this additional benefit brings joy and relief to them and their families this Christmas,” de Claro was quoted as saying in the statement.
The SSS also assured the public of its responsible management of members’ contributions.
The Commission on Audit (COA) has issued an unmodified opinion in 2024, affirming SSS’s fund integrity, overall financial soundness and adherence to good financial governance, even as specific audit observations are being addressed through established corrective measures. Reine Juvierre S. Alberto
PDIC without the need to leave the comfort of their homes, it added.
“Depositors in this category now have the option to be paid through bank transfer and electronic money or electronic wallets (e-wallets), making reimbursement even more convenient,” according to the state deposit insurer.
The PDIC said it has entered into a partnership with the Development Bank of the Philippines to tap onto the latter’s “Multi-Channel Disbursement Facility,” or MCDF, to include bank transfer and electronic money or wallet as additional payment channels to ensure that depositors can securely and timely access their deposit insurance proceeds.
The MCDF is an online payment system that enables bulk processing of payments via a secure file transfer protocol facility through the PESONet platform.
This facility is also being used by the PDIC to pay depositors who are required to file claims.
higher than many other Group-ofSeven economies since then, which is a reminder that “credibility of public officials matters,” Hooper wrote in a LinkedIn post.
“If anyone perceived to be less than independent is chosen as Fed chair and is focused on lowering rates at the long end, I suspect that person will have to resort to quantitative easing to offer the best chance to achieve that objective,” she said.
Treasury 10-year yields have already climbed more than 20 basis points from their October lows, an
exchange, has recently submitted documentation to regulators that would allow it to impose its own delays on orders running through its exchange. The proposal, which is under a 10-business-day review by the Commodity Futures Trading Commission, does not say which customers would be subject to the delays. It could go into effect as soon as this week if the regulator raises no flags. As prediction markets have
By filling out an electronic form to be sent by the PDIC, qualified closed bank depositors can choose how they want to be paid, the PDIC said. If the option is bank transfer or by electronic money or e-wallet, qualified depositors should indicate their bank account or a verified e-money or wallet account, respectively.
It said the other existing payment options are through postal money order (PMO) checks issued by the Philippine Postal Corp. and Visa debit cards of the Landbank.
The PDIC said it implemented the waiver for filing deposit insurance claims gradually since 2009 “which is now allowed up to P500,000 in response to the changing financial landscape and the growing needs of bank depositors.”
It assured that PDIC “remains committed to strengthening public trust in the stability of the Philippine banking system through prompt reimbursement of deposit insurance.”
unusual phenomenon given the Fed is likely to make another quarterpoint interest-rate cut this week.
President Donald Trump has said he’s close to naming his choice to replace Chair Jerome Powell, whose term ends in May. White House National Economic Council Director Kevin Hassett has emerged as the front-runner.
Hassett is widely considered a supporter of Trump’s preference for lower rates. Trump said earlier this month that the race for the central bank chief job is “down to one” while
grown in recent months — in large part due to trading around sports games — they have been eager to attract the kind of market making firms that can improve liquidity and make trading more seamless. The delays could help attract these participants, but they put prediction markets into territory that has been controversial for exchanges in other asset classes.
Equities and derivatives exchanges have faced blowback in
(RA) 11213 and RA 11569, which have expired on June 14, 2025. Data from the Bureau of Internal Revenue (BIR) showed collections on estate tax amnesty amounted to P503.23 million from January to March 2025, availed by 14,758 taxpayers. This contributed 40.31 percent to the P1.248-billion in total estate tax collections in the first quarter of this year. In the first half of the year, a total of 92,066 availed of the amnesty, BIR data showed.
T-bill yields low on bets Fed, BSP to slash rates
TREASURY bill (T-bill) yields continued to edge lower on Tuesday, as investors placed strong bids ahead of the widely expected reduction of key policy rates by the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).
During the public auction last Tuesday, the auction committee was met with overwhelming demand, as total tenders reached P88.225 billion or four times oversubscribed the P22 billion offer.
With all three tenors fetching yields lower than the previous auction’s and the secondary benchmark rates, the Treasury was able to fully award the short-dated debt papers up for sale.
Broken down, bids for the 91day T-bills reached P30.825 billion, or 4.4 times oversubscribed the P7billion offering, which was awarded in full.
The government securities fetched a lower average rate of 4.759 percent, 5.3 basis points below the previous rate of 4.812 percent. Meanwhile, tenders for the 182day tenor security reached P25.850 billion, 3.4 times the P7.5-billion offer.
The average rate of 182-day Tbills slid 5.7 basis points to 4.873 percent from 4.930 percent in the previous auction.
Lastly, the 364-day T-bills’ average rate dropped by 4.9 basis points to 4.962 percent from 5.011 percent in the last auction.
Total bids for the tenor amounted to P31.550 billion, more than four times the P7.5 billion in government IOUs for sale.
referring to Hassett as a “potential Fed chair.”
Hassett said on Monday it would be irresponsible for the Fed to lay out a plan for where it aims to take interest rates over the next six months.
While equity investors typically have “simple motivations” such as loose monetary policy, bond investors are more focused on fiscal sustainability and Fed independence, according to Man Group’s Hooper.
“Cutting the fed funds rate does not ensure that rates on the long end move lower; in fact, it could have the
the past for policies that appeared to give preferred status to high speed market makers. If prediction markets go in a similar direction it could undercut their argument that they offer their customers a level playing field, unlike traditional sports gambling companies.
A spokesperson for Crypto.com said that the three-second change “supports liquidity and fairness.”
“This is a disclosed rule in our FAQs,” the spokesperson for
As of December 9, the Philippine Bloomberg Valuation (PHP BVAL) rates are 4.873 percent for the three-month, 4.999 percent for the six-month and 5.052 percent for the one-year tenors. According to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, investors tried to lock in relatively higher yields before the BSP cut rates further on December 11, matching the Fed. Ricafort said the November 2025 inflation print of 1.5 percent—the lowest in four months and among the lowest in seven years—“justifies” another 25-basis-point rate cut by the central bank.
Improved local sentiment amid progress on governance reforms, recent anti-corruption actions and the Philippines’ BBB+ credit rating with a positive outlook, affirmed by S&P Global, also eased T-bill yields.
BSP Governor Eli M. Remolona Jr. has signaled another reduction in the key policy rate in the upcoming rate-setting meeting of the Monetary Board, which he chairs. The key policy rate currently stands at 4.75 percent, after it was reduced by 25 basis points last October 2025.
The Treasury still has one more T-bill auction for the year. It seeks to raise P20 billion on December 15, by offering 91-day, 182-day and 364-day T-bills. The government has borrowed a total of P2.483 trillion as of the end of October 2025, out of the P2.6 trillion financing program for the year. Reine Juvierre S. Alberto
opposite effect,” she said. PGIM Fixed Income’s co-chief investment officer Gregory Peters last week pointed to the rise in Treasury yields since it was first reported that Hassett had emerged as the leading contender to take over from Powell. The increasing chance of Hassett getting the job has fueled questions about the independence of the Fed, which remains a major concern for investors, said Peters, who is also a member of the Treasury Borrowing Advisory Committee. Bloomberg
Crypto.com said in an email. The company cleared the way for the delays in a filing it made with the CFTC on July 30. After an initial report on the filings, a spokesperson for Kalshi said in an email that the company may not move ahead with the proposed delays.
“This is just a filing,” the spokesperson said. “We haven’t implemented anything and have not decided whether we will.” Bloomberg News
Golden Globe snubs and surprises: ‘Wicked,’ Julia Roberts, Sydney
By Lindsey Bahr The Associated Press
PERHAPS the Wicked team should have called on Madame Morrible to enact some dark magic on Golden Globe voters before nominations were announced Monday. Wicked: For Good wasn’t nominated for best picture or best director, one of several surprising exclusions.
Snubs at the Golden Globes seem even more shocking considering how many people do get nominated. With six nominees in most categories, separate nominations for comedy/musical and drama, television and podcast buckets too, it seems there would be enough to go around. And yet that’s hardly ever the case. Others left out include Joe Rogan, Sydney Sweeney and Gwyneth Paltrow, leaving room for plenty of surprise inclusions. Here are some of the biggest snubs and surprises of the morning.
SNUB: “WICKED: FOR GOOD” AND JON M. CHU
YES, Cynthia Erivo and Ariana Grande got in (although Grande’s inclusion in the supporting category is really stretching the limits of the word “supporting”), but this was supposed to be Wicked’s year at the Golden Globes. Not only was Jon M. Chu looked over (again) for best director, but the film itself didn’t even get into the Musical/ Comedy category for best picture—and this after they so graciously accepted the weird conciliatory box office achievement prize last year. Was it because Wicked: For Good wasn’t as well-received as the first? Either way, it teaches awards bodies a lesson about “waiting” to honor two-parters until the second (see also: Dune).
SURPRISE: JULIA ROBERTS
JULIA Roberts’ turn as a Yale philosophy professor embroiled in a moral conundrum in Luca Guadagnino’s After the Hunt was widely praised as a return to form for the star. But the film itself pretty much died on the vine—a critical and box office flop that seemed to indicate that it was out of the awards conversation entirely. And yet, same as it ever was, the Globes can’t resist a high wattage star like Roberts in their midst.
SNUB: SYDNEY SWEENEY
BY the same skewed Golden Globes logic, it’s actually kind of shocking that Sydney Sweeney didn’t get a best actress, drama nod. Her transformative turn as a boxer in Christy was well-received at the Toronto International Film Festival and had awards prognosticators buzzing. It flopped at the box office, but in the most cynical sense, you’d think the show would want Sweeney, who seemingly can’t help going viral,
DIVA OR BRAT?
THE conflict between a director and an artist at a recent event allegedly started because the latter wanted to perform last when he was supposed to perform first. The singer and his team, when told about the order of performances, said he should go onstage last as he is the bigger star. He refused to play. The truth is that the artist is known to be difficult. This is
gracing the red carpet.
SURPRISE: “KPOP DEMON HUNTERS” FOR BOX OFFICE ACHIEVEMENT
THIS one is more than a little confounding considering Netflix doesn’t report box office results as a company policy. Yes, KPop Demon Hunters unofficially topped the domestic box office charts two months after hitting Netflix, but its theatrical footprint was truly limited. There was an awards qualifying run, a weekend sing-along release at the end of August and another over Halloween weekend that did not spark quite as much enthusiasm. Also not included were A Minecraft Movie, Lilo & Stitch and Superman, currently the top three movies of the year at the domestic box office. The math, as they say, isn’t mathing.
SNUB: “NE ZHA II”
AND then there is the Chinese animated epic Ne Zha II which is actually the biggest movie of the year with over $2 billion earned worldwide, but because it wasn’t a Motion Picture Association movie it’s left off most charts The movie wasn’t among the box office or the animated feature nominees.
SNUB: GWYNETH PALTROW
THIS one stings. Here we have an A-lister making a grand return to prestige movies, and somehow there’s no room for Paltrow in the supporting actress category for her fiercely intelligent performance as a faded movie star in Marty Supreme. This would have been a win-win for the show—both for the sake of its
HARASSMENT CASE
that a young news reporter is allegedly involved in a sexual harassment case filed by another reporter? The male reporter has allegedly resigned or is at least taking a break. He has deleted all of his social media and his wife has restricted comments on hers. The incident allegedly happened outside office hours and not on network premises. The network allegedly did not get involved right away because whatever took place happened in the news reporter’s private time. The incident happened months ago but the news reporter has not been spotted on TV recently.
A NEW PATH
THE actress used to be very active in show business. She was
own legitimacy and red carpet prospects.
SNUB: JOE ROGAN AND ALL POLITICAL PODCASTS
THE Joe Rogan Experience is the most popular podcast of the year and yet somehow was not nominated in the new podcast category. Not only that, but shortlisted political shows including The Ben Shapiro Show, Pod Save America, The Megyn Kelly Show, The Tucker Carlson Show and Candace Owens’ podcast were also left off the list.
SURPRISE: EMILY BLUNT
THE Smashing Machine’s prospects also seemed to wither with mixed reviews, but Blunt and, less surprisingly, Dwayne Johnson both got through. Blunt is exceedingly well-liked, but the character of Dawn Staples was perhaps not the best showcase for her talents. Also, maybe this should have been Paltrow’s spot?
SNUB: “WAKE UP DEAD MAN: A KNIVES OUT MYSTERY”
WE need to get Benoit Blanc on this very silly mystery. Rian Johnson’s third Knives Out movie got zero nominations.
SNUB: “THE GILDED AGE”
THE lush HBO period series was completely looked over. Mrs. Russell would not stand for such a slight.
SNUB: KATHERINE LANASA
MEANWHILE, Katherine LaNasa won the Emmy for her performance as Nurse Dana Evans in The Pitt but doesn’t even get a Golden Globe nomination?
always in a TV series not as the lead but in juicy supporting roles. She is no longer seen on TV and not even active on social media but still living a comfortable life. Years ago, the actress chose to be an escort. At one time, her face and name were on a website for escorts. She found showbiz life lucrative but also expensive to maintain. She also found it difficult to earn during lean months. The actress’ goal is to save money so she can retire early.
THE FAMILY BUSINESS
THE family’s way of laundering its ill-gotten wealth is by doing showbiz projects and paying off people to say that these projects are good. The truth is, these projects are just meant to make them look like they’re hard-working people. The family’s empire has been exposed but there are still projects, in general they are keeping a low profile. Their Christmas gifts and parties have always been legendary but it’s doubtful they will have those this year. If they do, the giftgiving will be done quietly.
By Eugenia Last
your skills or benchmarks you want to conquer. Romance is favored. HHHHH f VIRGO (Aug. 23-Sept. 22): Spend more time at home dealing with domestic matters and personal investments. Consider what will make your life easier and implement the changes that will put your mind at ease. Forward-thinking and executing your plans with discipline and detail will make a difference in how others treat you. HHH
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LIBRA (Sept. 23-Oct. 22): Get moving. The more you fit into your day, the better. Travel, attend events and reunions or sign up for something motivational. The people you encounter will offer insight into potential opportunities to improve your life. Selfimprovement projects will turn out well, and romance will be in the stars. HHH
h SCORPIO (Oct. 23-Nov. 21): A change of heart is likely, but first, understand the consequences. Avoid unsafe situations that can endanger your health or physical well-being. Stick to what and who you know and focus on projects that you find exciting. A networking or social event will lead to a beneficial encounter. HHH
iSAGITTARIUS (Nov. 22-Dec. 21): Take pride in what you do; shortcuts won’t pay off, and relying on someone else to do as good a job as you will fall short of your expectations. Build assets by investing in yourself and your home. Updating your look will be uplifting and encourage physical and emotional growth. HHHHH
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CAPRICORN (Dec. 22-Jan. 19): Work behind the scenes to avoid drama and those trying to force their will on you. Map out your route before you head out. Preparation will allow your intuition to take over and lead you down the path most likely to suit your needs. Personal updates will boost your
Headed for a wintry holiday? Top health institution gives pro-tips for staying healthy and cozy in the cold
MAYBE it’s our perennially hot and humid climate, or our fascination with snow, thanks to K-dramas and memorable movies set in dreamy, icy wonderlands. Whatever it is, spending the holidays in cold and wintry destinations ranks high among Filipino travelers.
In a 2024 report, the Department of Tourism noted that 655,640 Filipinos chose to spend Christmas and New Year abroad. And they didn’t need to go far. Based on studies, Hong Kong (coldest at 14°C in December), Japan (whose temps can dip to as low as 2°C in December), and South Korea (which can be a chilly -1°C) were the preferred countries to go to at year’s end.
While the nippy weather is a welcome reprieve from our scorching-hot and muggy temps, the cold and dry air can trigger certain illnesses that are easily spread when you’re in close contact with a group.
“There’s the common cold, flu, pneumonia, bronchitis, and Covid-19,” cites Sheryll M. Cornejo, MD, General Practitioner at the Philippines’ top hospital Makati Medical Center (MakatiMed, www.makatimed.net.ph). “Cold weather may also be perceived to worsen pre-existing conditions like COPD (chronic obstructive pulmonary disease), asthma, and arthritis.”
Planning to spend most of your time outdoors? You could set yourself up for frostbite (the freezing of skin and underlying tissues, which causes numbness and can lead to permanent damage of skin), hypothermia (when body temperature drops below 35°C), and chilblains (swollen and blistered hands and feet caused by exposure to cold and damp conditions).
While these are realities of a wintry holiday, MakatiMed shares a quick guide on making the vacation not only memorable but also safe and healthy.
n Assess the local weather forecast. The doctor underlines checking the common weather situation of your holiday destination during the time of your visit. “This helps you anticipate potential hazards—something we don’t usually experience in a tropical climate. Beyond extreme cold temperatures, you should check for snowfall, sleets, blizzards, and strong winds,” Dr. Cornejo points out. “This helps you prepare what clothing and essentials to pack.”
n Update your health arsenal. Dr. Cornejo suggests getting flu and pneumonia vaccines before your trip as well as packing a medicine kit with maintenance meds and basic remedies for fever, cough and colds, sore throat, and allergies. The cold, dry wind can be brutal on your skin: bring moisturizer, lotion, and lip balm, the doctor adds. In some countries, you can purchase hand and body warmers that you can slide in your pockets or stick on your shirts to help keep you warm when out and about.
n Dress appropriately. Packing for winter travel requires more than picking from your wardrobe staples. The goal is to stay comfortably warm in weather your body is not used to. The secret? Layering. Start with thermals—Long-sleeved tops and full-length leggings or pants made of breathable, moisture-wicking fabric as your base. Add insulating pieces like fleece, wool, and cashmere sweaters and jackets, and top them with a sturdy coat or insulated outerwear to shield you from the biting cold.
“In cold weather, bring a beanie to cover your head and ears. Wrap a scarf around your neck, and wear waterproof gloves and mittens for your hands,” says Dr. Cornejo. “For places that experience winter, boots are a must. Wear thick socks before getting into waterproof boots with good traction against slippery ice and snow.”
n Be vigilant. Feeling cold or under the weather despite bundling up? Alert your companions and seek immediate medical attention, notes Dr. Cornejo.
“Preparing to travel to a cold climate begins even before you book your flight and hotel,” adds the MakatiMed doctor. “Eating a balanced diet, exercising regularly, and getting the recommended hours of sleep at night go a long way in keeping you healthy and strong for all types of weather and destinations.”
Grow into your younger self
MANY of us look back on our younger years and remember moments of doubt, confusion, or wishing someone had guided us. Those feelings do not vanish as we grow older, but they can become powerful sources of growth when seen differently. Becoming the person you once needed is not just a nice idea but a meaningful way to heal and live more intentionally. By noticing the support you longed for back then, you can start building those qualities within yourself now. It is not about blaming the past. It is about seeing what was missing and choosing to offer it to yourself and to others who might need it.
I once saw a post on social media that asked what we would tell our younger selves. It made me think deeply about whether I had grown up in the way my younger self needed me. The question stayed with me for some time, prompting me to examine the gaps between the encouragement, guidance and reassurance I needed as a child, and the way I lived my life as an adult. This reflection can be uncomfortable because it forces us to confront regrets or missed opportunities. Yet it is also liberating because it opens the door to intentional growth. By considering the advice, support, or even simple kindness we wished someone had offered, we can begin to embody those qualities.
First, take a moment to remember what your younger self craved. Did you need more reassurance that you were good enough? Did you wish for someone to validate your feelings when you were struggling with anxiety or sadness? Perhaps you longed for guidance in making choices or the courage to pursue dreams that seemed impossible at the time. By identifying these unmet needs, you create a roadmap for the traits and behaviors you can develop in your present life. For example, if your younger self often felt lonely, becoming a more compassionate and attentive friend or family member allows you to provide that support. If your younger self lacked confidence in their abilities, investing in your own personal growth and celebrating your accomplishments openly can heal old insecurities. Becoming the person you need requires conscious self-reflection. Journaling can be a powerful tool for this practice. Write letters to your younger self. Speak to them with kindness, understanding and encouragement. Imagine the words you wished someone had spoken during that period. Over time, these exercises can help you internalize the qualities you admired in others or longed to receive. This is not an indulgent exercise in nostalgia. It is a deliberate method of shaping your character and mindset. Through this process, you begin to notice areas in your current life where you can act differently, whether by being more patient with yourself, advocating for your needs, or practicing selfcompassion in moments of challenge.
Another practical step is to develop the skills or habits you wish you had learned earlier. If your younger self struggled with managing emotions, learning
techniques such as mindfulness, meditation, or even simple breathing exercises can equip you to handle stress and disappointment more effectively. If you felt unsupported in pursuing creative interests or hobbies, now is the time to embrace those passions and honor them without guilt. The key is consistency. Change does not happen overnight, and embodying the traits you needed in the past requires regular effort. Each small act of courage, kindness, or self-care accumulates over time, gradually reshaping your identity.
Mentorship and community play a vital role in growth. Seek opportunities to guide and support others, especially those facing challenges similar to yours. This could include volunteering, offering advice, or listening with genuine attention. Sharing your lessons reinforces them within yourself and fosters a sense of purpose. Helping others cultivates empathy and patience while creating a positive impact that extends beyond your own growth.
Finally, remember that becoming the person you needed when you were younger is a lifelong journey rather than a single destination. Life will continue
Why doing good also makes us feel good, during the holidays and beyond
WASHINGTON—The holiday season is a time for giving thanks, giving gifts—and for many, a time for giving back. Food banks, services that deliver meals to seniors and other US charities typically see a surge in volunteering between Thanksgiving and the end of the year. But there are good reasons to volunteer at any time of the year.
Alfred Del Grosso volunteers weekly to work the lunch shift at Shepherd’s Table, a food bank in Silver Spring, Maryland. “I feel more connected to the broader community,” he said.
Most Thursdays, the retired chemist from Kensington, Maryland, also lends an unpaid hand to help clear fallen trees and brush from local trails with the Potomac Appalachian Trail Club. “It’s mostly volunteers who help maintain the trails,” he said.
Researchers who study human evolution and social psychology say that giving back is deeply rooted in human nature. Volunteers say they feel closer ties to the communities they serve.
“When we feel grateful for all we have, that motivates us to do good things for other people who have helped us, and also to do good things for new people,” said Sarah Schnitker, a psychologist at Baylor University.
“There’s a nice upwards reciprocal spiral between gratitude and generosity,” often enhanced at holiday times, she said.
For many in the US, the season most associated with giving, receiving and volunteering runs from Thanksgiving through Hanukkah and Christmas to New Year’s.
But around the world, a giving season or festival is present in many cultures, said Amrisha Vaish, a
developmental psychologist at the University of Virginia.
“Nearly all cultures have events or public festivals that allow people to express gratitude,” she said. “In Hinduism, Divali is a time of lights and festiveness and good eating, but also a time in which people give gifts to really express what people have meant to them.”
For Muslims, Ramadan, which ends with the festival of Eid al-Fitr, is a time for reflection, gratitude and acts of charity. Many Buddhist traditions also emphasize gratitude. The common purpose of such seasons, which also include non-religious acts of service, is to reinforce our natural cooperative tendencies, Vaish said.
“In human evolutionary history over hundreds of thousands of years, we’ve had to become cooperative in order to work together and survive as a species,” she said.
“We don’t have sharp claws, high speed, many other natural abilities. But what we do have is that we’re super cooperators; we can do more in groups than alone.”
Of course, humans aren’t always cooperative and generous—sometimes we’re also selfish and stubborn.
The tension between selfishness and altruism was recognized even by Darwin, said Michael Tomasello, a psychologist at Duke University. “That’s why life is so complicated. We have all these motives mapped together.”
But reflecting with gratitude on what we have, and seeing others do good, can encourage our most generous tendencies, experts say.
On an individual level, “giving, volunteering and generosity have the ability to increase our sense of meaning and purpose in life,” said Jenae Nelson, a
developmental psychologist at Brigham Young University
“There’s a quick dopamine hit sometimes called the ‘helpers high.’ But there’s also that deeper reward of helping us to establish purpose and meaning,” she said. “By helping other people and believing that small acts can change the world, you can bring coherence to your own life.”
After Mia Thelen retired as a nurse in Owosso, Michigan, she began volunteering for the American Red Cross, starting out by minding the office phones during blood drives before gradually taking on more organizational and administrative responsibilities.
“It’s a good way to spend your time, making the lives of others a little easier,” Thelen said. “I wanted to do something that helps the community.”
to present challenges, but the more you integrate these lessons, the more resilient, compassionate and self-aware you will become. You may find that your inner voice shifts from one of doubt to one of encouragement. You may discover a renewed sense of courage in facing uncertainty and a deeper appreciation for your achievements, no matter how small. In this way, your past can become a powerful guide, shaping a present that is more authentic, nurturing and fulfilling. The practice of becoming your younger self’s advocate and companion is both a gift to yourself and a legacy to those around you. It is never too late to step into this role. By listening to the quiet needs of your past and responding with care, patience and understanding, you cultivate a life that honors who you were, who you are, and who you have the potential to become. Every act of self-compassion, guidance and encouragement is a step toward bridging the gap between past and present. In doing so, you do not merely grow older. You grow wiser, kinder and more content.
“And I’m learning a lot: learning computer skills, learning communication skills. I have great co-volunteers.” She enjoys feeling more connected with her neighbors. Another common holiday tradition—sending greeting cards to family and old friends—also provides a chance to enhance or renew social ties, which people are often surprisingly reluctant to do, said Lara Aknin, a social psychologist at Simon Fraser University.
JuanHand secures a Multi-Million Peso Credit Facility in the PHL
WeFund Lending Corporation, operator of the JuanHand online lending application, has secured a multi-million peso credit facility with HSBC in the Philippines. The proceeds will be deployed to expand financial access for underserved yet creditworthy Filipinos.
The credit facility aims to strengthen financial inclusion by providing immediate and sustainable access to financing for individuals with limited or no credit history. This initiative underscores WeFund’s commitment to advancing responsible lending and promoting long-term financial empowerment across the country.
WeFund, operator of the JuanHand lending platform, has disbursed over P85 billion in loans to more than 20 million registered users. Recognized as one of the Philippines’ leading fintech cash lending apps, JuanHand provides fast and reliable access to funds,
Southville International School and Colleges Unveils New State-of-the-Art Learning Hubs during Anniversary Celebration
SOUTHVILLE International School and Colleges (SISC)
marked a historic milestone in its 35th founding anniversary with the grand unveiling of its newest state-of-the-art learning facilities. The ribbon-cutting ceremony, led by SISC President Dr. Jocelyn P. Tizon, welcomed students, faculty, alumni, and distinguished education partners to a momentous celebration of Southville’s continuing growth and forward-looking vision.
“These new hubs are more than just renovations; they are a reflection of our vision for the future,” Dr. Tizon emphasized, underscoring the institution’s commitment to meaningful, future-ready education.
The newly unveiled facilities include modernized hubs that foster creativity, collaboration, and resilience among learners:
A Psychology and Mental Wellness Hub, designed to support emotional and cognitive growth
A Digital Laboratory for IT innovation, equipped for cutting-edge technological exploration
The Monarchs Hub, featuring nursing simulation laboratories and research spaces
A dynamic College Lounge and Activity Center, promoting vibrant student life and leadership
Each space reflects Southville’s dedication to dynamic learning, innovation, and a student-centered environment.
From its humble beginnings in 1990 with just two students, Southville has evolved into one of the Philippines’ most highly accredited international institutions.
approving and disbursing loans in under five minutes. With its strong focus on fair interest rates, regulatory compliance, and customer-centric service, JuanHand continues to lead the way in offering trusted, technology-driven financial solutions to mainstream Filipinos. According to Francisco “Coco” Mauricio, President and CEO of WeFund Lending Corp. | JuanHand. “This credit facility will enable us to extend our reach and impact, ensuring that millions of Filipinos, particularly those historically underserved, can gain access to responsible credit. Empowering individuals through financial inclusion is at the core of what we do, and this collaboration marks a meaningful step toward that goal.”
The credit facility represents a significant milestone in bridging traditional banking and fintech collaboration, demonstrating how collaboration between established financial institutions and agile digital lenders can create scalable and sustainable solutions for inclusive economic growth.
Manila Kicks Off #LightTheWorld Giving Machines Campaign in the Philippines
THE #LightTheWorld Giving Machines recently opened at Ayala Malls Market! Market! in Bonifacio Global City, marking the first of four launches of the 2025 Giving Machine season in the Philippines. Located in the mall’s fifth-floor cinema area, the program to launch the Giving Machines was hosted by actor and host Eric “Eruption” Tai and teen actress Xia Vigor. Elder Chi Hong Sam Wong, First Counselor in the Philippines Area Presidency of The Church of Jesus Christ of Latter-day Saints, presided over the program. “Through the Giving Machines, we follow the example of Jesus Christ by reaching out to those in need,” Wong said. “Every donated item represents an opportunity to bring hope, comfort, and relief to someone who needs it most.”
The Giving Machines at Market Market support three charitable organizations: Caritas Kalookan Kaagapay, HERO Foundation, and NORFIL Foundation.
The charity partners at the launch were represented by Fr. Arvin de Jesus, former Gen. Emmanuel Bautista, and former MGen. Victor Bayani and Teresa Nuqui. Each expressed appreciation for the opportunity to participate in the initiative.
They expressed that the items available from the machines directly support their programs that assist children, families, and vulnerable individuals in various communities.
Taguig City Councilor Commissioner Raul Aquino also attended the launch on behalf of Taguig City Mayor Lani Cayetano and conveyed the city’s support for efforts that bring people together in service, especially during the Christmas season.
The event also welcomed Asia’s Nightingale Lani Misalucha and actor Jairus Aquino, who joined distinguished guests and partner representatives to test the machine’s new features and be among the first to donate.
Around 30 media members attended the program and participated in a press meet that followed. Media guests were given an overview of how the Giving Machines operate, how charity partners are selected, and how locations are chosen to host Giving Machines.
Their questions were answered by a panel composed of key representatives from the Manila charity partners, the celebrity hosts, and Ruth Del Mundo, Director for Temporal Affairs of The Church of Jesus Christ of Latter-day Saints in the Philippines.
The #LightTheWorld Giving Machines allow visitors to purchase items such as food packs, hygiene supplies, educational materials, therapy support, and other essential needs, which will be distributed directly to beneficiaries.
One hundred percent of every donation supports the selected item or a comparable need identified by the participating charity. Funds for operating the machines, marketing, and related expenses are provided separately by the Church. Manila is the first of four Philippine locations to open its Giving Machines this year. Cebu launched on November 28, 2025, at The Mall NUSTAR on Kawit Island and supported Parents Reach Foundation, Kythe Foundation, and Cebu Caritas.
Davao City launched its Giving Machines on December 1, 2025, at Ayala Malls Abreeza and will work with the Archdiocesan Nourishment Center, House of Hope Foundation for Kids with Cancer, and SOS Children’s Village.
The Giving Machines were introduced in Bacolod City for the first time on December 4, 2025, and gathered donations for the USLS Bahay Pag-asa Youth Center, the Corazon Locsin Montelibano Memorial Regional Hospital, and the Kalipay Negrense Foundation.
The event was graced by long-standing institutional partners such as Royal Pentagon Review Specialist, De Montfort University, Carelon Global Solutions Philippines Inc., Unilab Education, AAHRMEI, GAIN Inc., and Asian Hospital and Medical Center. Their presence underscored the strong collaborative spirit that has shaped Southville throughout its 35-year journey. The celebration also featured recognition ceremonies honoring exceptional alumni, followed by a fireside chat that reaffirmed Southville’s commitment to producing globally competitive, values-driven leaders.
Kingsford Hotel Manila’s Jungle Jolly Hampers Make Gifting Easy
AS the Christmas season approaches, Kingsford Hotel Manila proudly unveils its 2025 Jungle Jolly Hampers, a festive collection thoughtfully crafted to elevate the spirit of giving. Whether shared with family, gifted to friends, or presented as a meaningful corporate token, each hamper is designed to spark joy, strengthen connections, and bring the warmth of Filipino holiday traditions to every celebration.
This year’s Jungle Jolly Hamper collection highlights the hotel’s passionate dedication to creating gifts that feel personal, purposeful, and full of festive cheer. From intimate home gatherings to office celebrations and client appreciation, these hampers offer a delightful way to show gratitude, share love, and make every December moment truly memorable.
“Kingsford Hotel Manila is committed to elevating every holiday celebration through products that reflect both quality and heart. Our Jungle Jolly Hamper showcases the craftsmanship of our culinary team and our dedication to creating meaningful experiences for our guests and partners.
This year’s collection is designed to bring families together and to make every gathering feel extra special,” General Manager Jorold Montelibano shared. Guided by this philosophy, each pastry and snack inside the hamper is crafted with intention of comforting, festive, and irresistibly flavorful. From classic Filipino touches like Sampaguita Polvoron to indulgent loaves, cookies, and marshmallows, every item is made to celebrate togetherness.
The Big Hamper (P2,500 NET) is filled with a generous selection of pastries, sweets, and holiday essentials, making it ideal for families, valued clients, or premium gifting.
Inside, you’ll find a delightful assortment that includes a Harri Keychain, Sampaguita Polvoron, Blueberry Banana Muffin, Garlic Parmesan Loaf, Zabana Rum Loaf, Banana Loaf, Kingsford XO Nuts, Pistachio Crisps, Pistachio Crinkles,
Christmas Madeleines, Snickerdoodle and Black Forest Cookies, Chocolate Mango Marshmallows, and a bottle of Emperador Original Classic Brandy Liqueur. Meanwhile, the Small Hamper (Php 1,800 NET) offers a thoughtfully packed array of holiday goodies perfect for
Dusit Thani Davao Host First-Ever Kitchen Arena at Davao Food and Wine Festival 2025
DUSIT Thani Davao took center stage in Mindanao’s culinary calendar as host of the first-ever Kitchen Arena, the highlight of the Davao Food and Wine Festival 2025 which was held November 29, 2025. The three-week festival celebrated Mindanao ingredients, the chefs who champion them, and the community that continues to elevate the region’s culinary identity. Held at Dusit Thani Davao –Madayaw Café, Kitchen Arena delivered a dynamic showcase of talent, precision, and storytelling.
The festival, guided by Chairperson Carmina del Rosario, brought together chefs, producers, partners, and audiences in a shared mission to amplify Mindanao’s culinary voice and bring the region to a broader national and international stage.
The Kitchen Arena program was cohosted by Kyle Jennermann of Becoming Filipino, whose warmth and enthusiasm matched the energy of the evening, and Kim Liu of Varigoods and Kozara Yakitori, who provided insightful culinary commentary and an accessible breakdown of the fast-paced action onstage.
Adding depth and balance to the competition was a distinguished panel
of judges composed of JC Lo, a respected food columnist known for his refined and thoughtful critique; Pepper Teehankee, a veteran food and travel writer with a broad global perspective; and Nicole HaoBian Ledesma, a hospitality entrepreneur and industry leader who heads the JIB International Center for Hospitality and Culinary Arts and plays an active role in DATA (Davao Tourism Authority).
This year’s Kitchen Arena gathered four chefs who each brought a unique culinary identity:
• Chef Rhea Rizzo – Mrs. Saldo’s | refined, heartfelt cooking shaped by global influences
• Chef Andrew Malarkey – Wild Siargao | bold “GLOCAL” cuisine with vibrant island character
• Chef Jeramie Go – Pilgrim | disciplined Toronto-trained technique grounded in Mindanao terroir
• Chef Dinan – Dusit Davao | luxury-hotel precision, calm leadership, and strong homecourt presence
The evening opened with elegant tasting stations paired with Sula welcome cocktails and wines curated by Sommelier Selections, an intimate opportunity for guests to experience each chef’s culinary point of view before the competition unfolded.
In true Kitchen Arena fashion, chefs
crafted two dishes under timed conditions, drawing specialty equipment at random and gathering produce from the festival’s expansive pantry featuring Mindanao’s finest producers, including: Mindanao Butchers & Co., Alsons Aquaculture / Sarangani Bay, Hijo Fresh, Mothers Produce, Italian Specialists, Rafski, Agriya, Sula Spirits, Sommelier Selection, Sonic, Hoh Farm, Sonic, Pilgrim, Buyers Link, and Malagos Farmhouse.
Adding suspense to the night was the Secret Black Box, revealed only moments before the competition began. This year’s box featured Odong, the beloved Visayan noodle; fresh crabs sourced from Surigao; and Malagos Boracho cheese, an internationally recognised Davao icon—ingredients that pushed the chefs to showcase both creativity and mastery under pressure.
These ingredients challenged each chef to reinterpret regional staples with creativity and technical finesse.
The night culminated in a guided tasting and final deliberation, followed by the announcement of the Kitchen Arena Champion, Chef Rhea Rizzo of Mrs. Saldo’s, a moment celebrated not only by the competitors but by the entire culinary community of Davao. The crowd’s favorite award was also presented to Chef Andrew Malarkey of Wild Siargao, whose
In the photo are, from left to right, Joseph Ruan, COO of WeFund Lending Corp. | JuanHand; Tim Li, CEO of FinVolution Group; Francisco “Coco” Mauricio President and CEO of WeFund Lending Corp. | JuanHand; Shaun Sakhrani, Head of Structured Banking Southeast Asia, HSBC Philippines / HSBC Singapore; and Xiaodong Sun, Head of International Business of FinVolution Group.
resonated strongly with guests throughout the evening.
community, and championing Mindanao’s rich heritage, reinforcing the hotel’s role as a proud partner in elevating Davao as one of the Philippines’ most vibrant and compelling culinary destinations.
Kitchen Arena Champion Chef Rhea Rizzo poses with her trophy and Sula spirit bottle, joined by Monica Lorenzo of TLDC, Festival Chair Carmina del Rosario, the judging panel, event hosts, and key sponsors.
Editor: Tet Andolong
BusinessMirror
BEAM Me Up: Arthaland’s Bamboo Revolution
By Rizal Raoul S. Reyes @brownindio
CLIMATE change could create havoc on the country’s future if we don’t make the right moves. Furthermore, climate change could reduce the country’s gross domestic product (GDP) by 13 percent by 2040 if decisive action is not taken.
In her talk, Marta Pėrez Cusō', economic affairs officer of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) s aid the organization is committed to supporting inclusive, resilient, and sustainable development.
“ESCAP helps businesses transition to low-carbon, resource-efficient m odels through its Green Growth project. This initiative is proving that progress doesn’t need to slow down; it's about accelerating progress in a way that respects planetary boundaries,” she said during Arthaland’s l aunching of Project Beam held in Taguig City. ESCAP’s support focuses on several key areas:
n Policy Guidance and Capacity Building: Providing tools and policy guidance to help enterprises, both large and small, adopt green tech -
nologies. The goal is to move beyond mere aspiration and turn sustainability into action.
n The Sustainable Business Network (ESBN): ESCAP convenes this d ynamic platform where business leaders, policymakers, and innovators share best practices and forge p artnerships. This network is a hub for ideas that promote green growth.
n Inclusive Business Models: Recognizing that sustainability is also a bout people, ESCAP champions models that integrate low-income communities into value chains. and the private sector, exemplified by Arthaland, in advancing the Philippine s ustainability objective. This creates jobs, improves livelihoods, and reduces inequality, directly supporting the Philippine objective of
inclusive growth. Successful examples in the Philippines have already integrated thousands of farmers into supply chains, improving their incomes a nd building resilience.
Perěz commended Arthaland commended for its exceptional vision— a chieving something beyond what is currently available—and its ability to engage a wide range of stakeholders. As a private sector leader, she said Arthaland exemplifies the notion that corporations can be catalysts for change and that those who integrate sustainability into their core strategy are “not only future proof, their f uture leaders.”
She said the newly launched Project
Mixed outlook for retail and hotel in 2026
First of two parts
THE Philippine property market continues to post recovery post-covid. The lifting of physical distancing protocols has done wonders for certain property segments but in terms of prognosis over the next 12 months, it appears mixed at this point.
The office sector has been impressive the past 11 months and net take up is likely to breach our initial forecast. The residential market has seen a pick up in investor and end-user confidence with the mid-income market dominating take up for the first nine months of the year.
Meanwhile, retail and hotel segments offer contrasting prospects. The retail sector suffered substantially in 20 and 2021 at the height of implementation of nationwide lockdowns but has recovered exponentially since the lifting of physical distancing protocols. The segment continues to perform well, with major foreign brands either establishing or expanding footprint across the country, banking on a personal consumption-led economy.
Mall developers to continue expansion outside of Metro Manila
THE shift to suburbia has become more pronounced. Colliers data proves that property firms have been expanding their residential footprint outside of Metro Manila and in our opinion, developers should complement these projects with the ideal size of retail component.
For instance, Rockwell will open Power Plant Malls in Angeles City and Bacolod City in 2027 while SM and Ayala Malls are setting their sights on key cities including Cebu, Davao, Iloilo and Bacolod where new malls will be opened and renovated between 2026 and 2028.
Focus on mall refurbishments and refreshed tenancy mix
COLLIERS expects food and beverage (F&B), clothing and footwear and
beauty and wellness retailers to dominate physical mall space take-up over the next 12 months. Foreign brands are also likely to continue occupying massive physical mall space.
Major developers have been earmarking billions for the reinvigoration of their retail centres and this massive retail capex is also likely to benefit other growth areas outside Metro Manila, including Cebu and Pampanga.
Metro Manila retail vacancy to fall to sub-10% level
IN Q3 2025, Metro Manila retail vacancy further improved to 11.4 percent from 13.1 percent in Q1 2025. This is also the lowest since the 9.7 percent recorded in Q1 2020. Colliers retains its forecast that Metro Manila retail vacancy will revert to pre-pandemic level by the end of 2026. In Q3 2019, just before Covid, retail vacancy in the capital region reached 9.3 percent.
In our view, strong absorption of retail space by foreign brands has been resulting in lower vacancy across Metro Manila malls. Lower vacancy and brisk take up should result in gradual increase of lease rates across the capital region. This indicates that business districts enjoying active residential and office take up are likely to see recovery of pre-covid retail lease rates –another impetus for mall developers to refresh and reimagine retail spaces to attract more tenants.
Mall completion down to a third of new supply from 2017 to 2019
FROM 2026, to 2028, we expect the annual average completion of 111,000 sq metres of new retail space in Metro Manila, down from 332,000 sq metres delivered per year from 2017 to 2019.
Colliers believes that the tempered completion of new mall space across Metro Manila partly contributes to sustained improvement in vacancy. This limited new supply in the capital region also indicates that developers are now focused on refreshing existing space to accommodate more lifestyle brands that occupy sizable mall space.
Aggressive improvement of omnichannel presence
THE pandemic helped raise the viability and popularity of online shopping platforms. The shift to online and in-app payments also partly facilitated the growth of e-commerce in key urban areas across the Philippines.
Colliers believes that it is crucial for mall operators and tenants to cash in on the growth of online shopping by improving the e-commerce platforms of retailers. Through this, we can really say that bricks (physical malls) truly complement clicks (online shopping sites).
This aggressive brick-and-click strategy will be the norm in Philippine retail even beyond 2026. To be continued.
BEAM (Bamboo for Ecological Architecture and Materials) is a key i nnovation. It is the Philippines' first commercial-scale bamboo structure, a groundbreaking building constructed entirely with engineered bamboo. This project directly addresses the need for a low-carbon, resourceefficient built environment by using a rapidly renewable, lowcarbon alternative to materials like cement and steel. This effort firmly anchors the company’s sustainability strategy in circular construction and carbon reduction.
n Commitment to Net Zero: Arthaland is a foremost green
developer, with 100 percent of its portfolio globally certified as sustainable. Its flagship office building, the Arthaland Century Pacific Tower, was the first certified net-zero development in the Philippines and has achieved the highest classifications like LEED Platinum and BERDE 5-Star.
n Leadership in ESBN: Arthaland's position on the Executive Council of the ESBN is a testament to its commitment, driving the sustainability agenda not only within its organization but across the broader sector.
Through these bold, collective actions, like Project BEAM, Arthaland is a powerful example of how the private sector can unlock new growth opportunities while safeguarding the planet, working toward a future where growth is green, prosperity is shared, and development is truly sustainable.
She said sustainability is not only about the environment, it's also about people and ESCAP champions inclusive business models that integrate low income communities into value chains, creating jobs, improving livelihoods and reducing inequality.
I n the Philippines, inclusive businesses have already integrated
1000s of farmers into supply chains, improving their incomes and building resilience.
“The future that we want is within reach, but only if we act boldly, like with the BEAM project, and act together at ESCAP, we stand ready to support this transformation through green growth programs, sustainable business networks and inclusive business models,” she said.
The newly launched Project BEAM is heralded as one such vital innovation. Cuso emphasized t hat businesses are not solely profit-driven; they can and must be catalysts for change.
“Companies that integrate sustainability into the core strategy a re not only future proof, their future leaders.”
By embracing sustainability, businesses unlock new growth opportunities while safeguarding the planet.
A rthaland’s BEAM project exemplifies this bold, future-forward approach, integrating sustainable practices into the core of their business model. “Your work and commitment in driving the sustainability agenda, not only within your organization, but also driving the broader sector and industry, is commendable,” she said.
Damosa Land, Davao Light launch new substation to power industrial growth
PANABO City, Davao Del Norte—Damosa Land, Inc. (DLI) and Davao Light and Power Company (DLPC) have officially broken ground on the San Pedro Substation inside the Anflo Industrial Estate (AIE), marking a major infrastructure milestone that will boost the estate’s power capacity and support the accelerating industrial activity in Davao del Norte. The project, formalized through a Memorandum of Agreement signed on August 19, strengthens AIE’s position as an investment-ready hub by ensuring reliable, efficient, and future-proof energy for its growing locator community.
AIE, a 63-hectare PEZA-accredited economic zone, continues to attract global and local locators engaged in manufacturing, agribusiness, food processing, and logistics. The new 43MVA substation is designed to provide sufficient and stable power capacity needed to sustain the estate’s growth trajectory.
“As more global companies invest and expand within AIE, ensuring reliable and cost-efficient power becomes essential,” said Ricardo Lagdameo, President of Damosa Land, Inc. “This substation is a strategic infrastructure investment that strengthens our competitive edge and supports the long-term viability of industrial operations. It demonstrates our commitment to sustaining Mindanao’s
economic momentum and elevating the region as a top investment destination.”
Construction of the substation will proceed in phases, with the first 10 MVA expected to be energized by June 2026, followed by the remaining 33 MVA by December 2027, for a total capacity of 43 MVA. The facility directly supports major global locators inside AIE, including HEAD Sport Philippines, Inc., operator of the world’s largest tennis ball manufacturing facility, GMAC Logitech Refrigeration Corporation, which will operate a 12,000-pallet-capacity cold storage facility, and Thai Coconut Public Company Limited (COCOCO), which is developing a large-scale coconut milk production plant.
“The San Pedro Substation is engineered to ensure uninterrupted power supply for both current and future load growth within the estate,” said Arnel D. Bersabe, Senior Assistant Vice President for Panabo and Davao del Norte at DLPC. “Constructing the substation inside AIE improves reliability, as distribution lines delivering power directly from the facility are less prone to outages. This will also be DLPC’s sixth digital substation, equipped with advanced automation, modern protection systems, a solar PV-powered control room, and a rainwater catchment system.”
Beyond serving AIE, the substa-
tion will strengthen power reliability for the surrounding communities in Panabo City. Integrated into Davao Light’s expanded network in Davao del Norte and parts of Davao de Oro, it can support neighboring substations during emergency interruptions, minimizing disruptions for customers. The continued growth of AIE and the entry of additional locators are also expected to boost employment opportunities for the local workforce. The groundbreaking ceremony gathered executives from Damosa Land and Davao Light, local government officials, and members of the locator community. With construction underway, the substation is set to become a crucial component of AIE’s future expansion and a significant contributor to Mindanao’s rising competitiveness as an industrial and investment destination.
“Looking ahead to 2026, we are planning targeted initiatives to enhance the AIE’s infrastructure and support our locators’ growth,” added Lagdameo. “This substation is just the first of several strategic projects aimed at ensuring that AIE remains a world-class industrial hub that attracts new investors and generates more opportunities for the local workforce.”
To know more about the partnership between Damosa Land and Davao Light and Power Company, visit https://damosaland.com/.
OFFICERS of Damosa Land, headed by its President, Ricardo F. Lagdameo, and Chairperson of the Anflo Group of Companies, Linda F. Lagdameo, join the officers of Davao Light and Power Company, headed by its Chief Operating Officer, Enriczar T. Tia, Davao del Norte Second District Representative Jose Manuel Lagdameo, and other Panabo LGU officials, in breaking ground on the San Pedro Substation inside AIE.
MARTA PĖREZ CUSŌ', economic affairs officer of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) says Arthaland's Project BEAM (Bamboo for Ecological Architecture and Materials) is a key innovation for the country's sustainability agenda .
ARTHALAND vice chairperson and president Jaime C. Gonzalez explains in his video address the company's commitment to promote bamboo technology.
Downhillers target
PHL’s 1st SEAG gold
U22 booters go all out for medal
BANGKOK—As great a feeling as that of reaching the Southeast Asian Games semifinals for the first time after 34 years is, the Philippine U22 team knows this feat won’t be complete without a medal.
So expect the Pinoy booters to continue the hard work as they transition to the Final Four slated for December 15 at the cavernous Rajamangala Stadium in Bangkok. They’re set to face either the Group A topnotcher or the Group B ruler with a historic ticket to the gold medal match on the line. Thailand (three points), Timor Leste (three points) and Singapore (still zero) are disputing the semis ticket in Group A while Malaysia (three) and Vietnam (three0 are contesting the seat in Group B. Aside from the group winners, the best second-placed team will also proceed to the Thai capital for the KO rounds.
The players obviously have set their own goals as a group. Before the tournament, they set themselves the goals of at least semifinals and placing with a medal in this tournament,” said coach Garrath McPherson.
McPherson’s troops had swept their two assignments in Group C, beating Myanmar, 2-0, before following it up with a 1-0 victory over defending champion Indonesia at Chiang Mai’s 700th Anniversary Stadium, to advance ahead of anyone else.
The victory rekindled the magic of the 1991 SEAG in Manila, the last time the Philippine men’s football squad made it past the eliminations. In that celebrated run, the Filipinos finished fourth overall.
Our focus now is on enjoying some rest after playing two games in a span of four days and we now get to have some rest, (time to) recharge, mentally and physically,” said McPherson. Josef Ramos
THE Philippine women’s football team celebrate their 1-0 victory over Vietnam over the weekend and are now poised to finish strong in the games. POC MEDIA POOL
By Jun Lomibao
BANGKOK—They’re grizzled and bruised and at times fractured and including a virtual newcomer, the national mountain bike downhill team in cycling shoot for the Philippines’ first gold medals on Wednesday morning at the Khao Kheow Open Zoo track in Chonburi.
Excited and at the moment sketchy,” said John Derick Farr, 29 and a gold medal winner in the Philippines 2019 edition in Tagaytay but settled for bronze the last time downhill was on the games program in Hanoi.
I need to make adjustments and I need to make them quick,” added Farr, referring to his lines on the steeps and jumps of the 1.35-kilometer course marked by several rocky portions and a 10-jump approach to the finish.
L ike Farr, Lea Denise Belgira—also a gold winner in the women’s race in Tagaytay—admitted she’ll have to make her own adjustments after failing to complete and fully navigate the track because of mechanical issues during the practice run on Monday and the seeding run on Tuesday.
The motivation will always be there, especially because we downhiller are expected to deliver on the first full day of competitions,” said the 29-year-old pride of Buenavista on Guimaras Island.
Her rear rim broke in practice but lucky for the team, they have a spare bike that came in handy from Eleazar
Barba Jr., who clinched silver behind Farr in Tagaytay City and is now part of
the downhill coaching staff. Just get gold,” was the instruction from Philippine Olympic Committee president Abraham “Bambol” Tolentino—also the president of the sport’s national federation, PhilCycling.
Joining Farr in the men’s race is 20-year-old Simon Peter Servillon, the reigning national champion from Davao City, while completing the women’s roster is Naomi Gardoce, who salvaged bronze in Hanoi 2022 when Belgira didn’t finish because of equipment failure.
“I’m as excited as they are” said Servillon—referring to his more veteran teammates—on his SEA Games debut.
The riders are prepared,” said downhill coach Eboy Farr as he lamented restrictions implemented by organizers—only a day’s practice run instead of the ideal two days. “But we remain focused.”
The finals start at 9 a.m. local time with the men’s race, followed by the women’s competition.
Tuesday’s results of the seeding runs were the basis for Wednesday’s start list in reverse order—Thailand’s Chitiphat Arsa starts first at 9 a.m., followed by Servillon, Farr, another local bet Methasit Boonsane and Indonesia’s Rendy Varera—at three-minute intervals.
The women’s race kicks off at 9:18 a.m.—Jacinta Ilda da Costa (Timor Leste), Gardoce, Eddyna Nasuhara Zainal Abidin (Malaysia), Thi Huyen Trang Nguyen (Vietnam), Belgira, Riska Amelia Agustina (Indonesia), Milatul Khaqmiah (Indonesia), Kanokrat Ritthidet (Thailand) and Vipavee Deekaballes (Thailand).
PHILIPPINE Olympic Committee (POC) president Abraham “Bambol” Tolentino and secretary-general Atty. Wharton Chan, along with flag-bearers Alex Eala and Bryan Bagunas (seated, below) and (from left) deputy chefs de mission Jarryd Bello (curling) and Bob Moran (soft tennis), POC director Donaldo Caringal (volleyball), chef de mission Dr. Jose Raul Canlas (surfing) and Asian Volleyball Confederation president Ramon “Tats” Suzara are getting ready for the parade of athletes during the opening ceremony on Wednesday night. POC MEDIA POOL
BANGKOK—The Philippine Tennis Association is banking on Women’s Tennis Association No. 52 Alex Eala in the 33rd Southeast Asian Games here as hostilities begin with the team event on Wednesday.
E ala, 20, is Team Philippines’ flagbearer, alongside Alas Pilipinas’ Bryan Bagunas in the opening ceremony on Tuesday night.
The Filipina is competing in her second SEA Games, bagging three bronze medals in her first stint in Vietnam back in 2022.
PHILTA Secretary General John Rey Tiangco said the team will be feeding off of the excitement surrounding Eala’s inclusion in the lineup, as they hope for a bigger medal haul in Thailand.
“ Our men and women’s teams are in high spirits and have prepared well for the 33rd Southeast Asian Games in Thailand.
Adding to the excitement is Alex Eala’s
By Josef Ramos
I am expecting that we will get there—we will play our best and that will give us a chance of winning the championship,” he said.
“But we’ll take it one game at a time and let’s start off with Malaysia,” he said.
The Philippines starts its titleretention bid against Malaysia on Sunday yet at 11:30 a.m. in Pool A to be followed by Vietnam on Monday both at the Nimibutr Stadium.
Black’s lineup is a mixture of Philippine Basketball Association players, pros who’re playing overseas and collegiate aces—Thirdy Ravena, Matthew Wright, Parks, Jamie Malonzo, Von Pessumal, Robert Bolick, Justin Chua, Dalph Panopio, Abu Tratter, Saint Benilde’s Allen Bryant Liwag, Far Eastern University’s Veejay Pre and Adamson University’s Cedrick Manzano.
H e knows host Thailand that has Thai-Americans—6-foot-8 Frederick Lish, 6-foot-4 Moses Morgan and 6-foot-3 Nikola Franco—while Vietnam, Singapore and Malaysia have improved a lot.
I already saw Vietnam’s lineup, but not yet with Malaysia,” he said. “I have seen some of them play on the internet, obviously, just like what they’re doing with us.” T he team is arriving here on Thursday.
participation as one of the flag bearers for the Philippines, for which I am very happy and grateful.” he said. Not only does her presence inspire our tennis squads, it also inspires the entire 1,600-strong Philippine delegation. We hope that tennis will continue to be a source of pride and honor for the country ,with the help of Alex Eala and her other talented teammates.”
O ther members of the tennis team include Eric Olivarez, Alberto Lim, Alexa Milliam, Fracnis Alcantara, Ruben Gonzales, Shaira Rivera, Tennielle Madis, Stefi Aludo, and Arthur Craig Pantino.
T he SEA Games tennis event begins with the men’s and women’s team competition, with the singles and doubles competitions slated to begin on Sunday, December 14. All tennis events are held at the National Tennis Development Center in Nonthaburi. Josef Ramos
THE national downhill team—(from left) coach Eleazar Barba Jr., Simon Peter Servillon, Naomi Gardoce, head coach Eboy Farr, Lea Denise Belgira and John Derick Farr—are raring to go in Chonburi.
